PERFORMANCE DISCLOSURE

Past performance may not be indicative of future results and the performance of a specific individual client account may vary substantially from the composite performance results. Therefore, no current or prospective client should assume that future performance will be profitable, or equal either the Draughn Partners composite performance results reflected above, nor the performance results for any of the comparative index benchmarks provided. The historical performance results of the comparative index benchmarks do reflect the deduction of transaction and custodial charges, but not the deduction of an investment management fee, the incurrence of which would have the effect of decreasing indicated gross historical performance results. The historical index performance results are provided exclusively for comparison purposes only, so as to provide general comparative information to assist an individual client or prospective client in determining whether a specific Portfolio meets, or continues to meet, his/her investment objective(s). It should not be assumed that account holdings will correspond directly to any of the comparative index benchmarks. For reasons including variances in Portfolio account holdings, variances in the investment management fee incurred, market fluctuation, the date on which a client engaged Draughn Partners investment management services, and any account contributions or withdrawals, the performance of a specific client's account may vary substantially from the indicated Draughn Partners composite performance results.

To the extent that there has been a change in a client's investment objectives or financial situation, he/she/it is encouraged to advise Draughn Partners immediately. Different types of investments and/or investment strategies involve varying levels of risk, and there can be no assurance that any specific investment or investment strategy (including the investments purchased and/or investment strategies devised by Draughn Partners) will be either suitable or profitable for a client's or prospective client's portfolio. Information pertaining to Draughn Partners advisory operations, services, and fees is set forth in Draughn Partners current written disclosure statement, a copy of which is available from Draughn Partners upon request.

Actual composite performance results for the Moderate composite represents the performance of all discretionary moderate client accounts managed by Draughn Partners commencing March 2003. The composite performance results reflect the reinvestment of dividends and other account earnings, and are net of applicable account transaction and custodial charges, and Draughn Partners investment management fee. (Actual performance results (11/98-3/03) represent the results for one discretionary client account continuously managed by Cliff Draughn while serving as a portfolio manager at a prior firm.)