Table: The BusinessWeek Midyear Economic Forecast Survey for 2003-2004

PERCENT CHANGE IN REAL GDP (ANNUAL RATE) -------2003------ ---2004--- NAME Firm II III IV I II DAVID BERSON Fannie Mae 1.6 3.7 4.5 4.3 3.9 ROBERT BRUSCA Native American Securities 1.2 2.7 3.4 3.2 3.5 MICHAEL CAREY Credit Lyonnais 1.4 3.5 3.9 4.1 3.7 BILL CHENEY John Hancock Financial Services 2.3 3.5 3.7 4.1 3.8 MICHAEL ENGLUND MMS International 2.5 4.5 4.0 3.5 4.0 ETHAN HARRIS Lehman Brothers 1.5 3.0 3.2 3.5 3.5 STUART HOFFMAN PNC Financial 2.0 3.3 3.3 4.0 3.0 GENE HUANG FedEx 1.9 3.7 3.8 3.2 3.0 KURT KARL Swiss Re 1.7 3.0 3.3 3.8 3.7 CYNTHIA LATTA Global Insight 1.5 3.8 4.5 5.2 4.1 DANIEL LAUFENBERG American Express Financial 2.5 4.5 3.8 4.0 3.3 JOSEPH LIRO Stone & McCarthy Research 2.5 3.0 4.0 4.0 4.5 KEN MAYLAND ClearView Economics 3.2 3.8 4.6 4.0 3.7 ROBERT McGEE / THOMAS SYNNOTT US Trust 2.5 4.5 4.1 3.5 3.5 ED McKELVEY Goldman Sachs 1.0 4.0 2.5 2.0 2.5 MICHAEL MORAN Daiwa Securities America 1.7 3.4 3.7 3.3 4.1 IAN MORRIS HSBC 1.5 1.5 1.5 2.4 2.4 MICHAEL NIEMIRA Bank of Tokyo-Mitsubishi 2.2 3.3 3.2 3.2 3.5 JOEL PRAKKEN / CHRIS VARVARES Macroeconomic 1.9 4.4 4.5 4.1 3.8 Advisers DAVID RESLER Nomura Securities International 2.0 3.8 3.7 3.3 3.4 IAN SHEPHERDSON High Frequency Economics 3.0 4.0 4.0 5.0 5.0 ROBERT SHROUDS DuPont 1.9 3.0 4.5 4.5 4.0 JOHN SILVIA Wachovia 2.3 3.3 3.3 3.6 3.9 ALLEN SINAI Decision Economics 2.0 2.7 3.2 4.0 4.2 DONALD STRASZHEIM Straszheim Global Advisors 2.0 2.5 3.0 4.0 4.0 DIANE SWONK Bank One 2.0 3.1 3.3 3.3 3.0 HENRY WILLMORE Barclays Capital 2.5 4.5 3.0 3.5 3.5 DAVID WYSS Standard & Poor's 2.2 3.0 4.5 5.1 4.6 RICHARD YAMARONE Argus Research 1.0 2.3 2.5 3.0 2.1 MARK ZANDI Economy.com 1.7 3.0 3.9 4.2 4.3 CONSENSUS 2.0% 3.4% 3.6% 3.8% 3.7%

ANNUAL QUARTERLY PERCENT AVERAGE S&P CHANGE FED 500 CPI FUNDS 10-YEAR STOCK RATE RATE TREASURY INDEX 2004 2004 2004 AS OF NAME Firm II Q II Q II Q 6/30/04 DAVID BERSON Fannie Mae 2.3 1.35 3.81 1105 ROBERT BRUSCA Native American Securities 1.5 1.00 4.50 1075 MICHAEL CAREY Credit Lyonnais 1.8 1.25 4.20 1050 BILL CHENEY John Hancock Financial Services 2.2 2.00 4.60 1050 MICHAEL ENGLUND MMS International 2.2 2.25 4.90 1100 ETHAN HARRIS Lehman Brothers 1.3 0.75 3.80 NA STUART HOFFMAN PNC Financial 2.4 1.00 3.85 1050 GENE HUANG FedEx 2.7 1.80 5.30 1100 KURT KARL Swiss Re 1.6 1.13 4.90 1000 CYNTHIA LATTA Global Insight 1.3 1.51 4.30 1035 DANIEL LAUFENBERG American Express Financial 2.6 2.50 5.00 1040 JOSEPH LIRO Stone & McCarthy Research 1.5 1.50 4.50 1100 KEN MAYLAND ClearView Economics 2.5 2.98 4.74 1075 ROBERT McGEE / THOMAS SYNNOTT US Trust 2.0 1.25 3.25 950 ED McKELVEY Goldman Sachs 1.2 0.75 4.00 NA MICHAEL MORAN Daiwa Securities America 1.5 1.25 4.00 1100 IAN MORRIS HSBC 1.5 0.75 2.50 825 MICHAEL NIEMIRA Bank of Tokyo-Mitsubishi 1.2 1.50 3.90 1050 JOEL PRAKKEN / CHRIS VARVARES Macroeconomic 0.9 2.42 4.92 1125 Advisers DAVID RESLER Nomura Securities International 1.7 1.25 3.85 1155 IAN SHEPHERDSON High Frequency Economics 1.8 2.00 5.00 1200 ROBERT SHROUDS DuPont 2.0 1.50 4.50 1150 JOHN SILVIA Wachovia 2.4 1.50 4.75 1020 ALLEN SINAI Decision Economics 1.8 1.25 4.03 1106 DONALD STRASZHEIM Straszheim Global Advisors 2.0 1.25 4.50 1050 DIANE SWONK Bank One 2.2 3.25 6.50 1100 HENRY WILLMORE Barclays Capital 2.5 1.25 5.00 1010 DAVID WYSS Standard & Poor's 1.5 1.40 5.50 1070 RICHARD YAMARONE Argus Research 2.8 1.25 4.05 1125 MARK ZANDI Economy.com 2.2 3.00 4.75 1150 CONSENSUS 1.9% 1.60% 4.40% 1070

CURRENT READINGS (AS OF JUNE 16): GDP(1Q): 1.9% CPI (MAY): 2.1% FED FUNDS:1.25% 10-YEAR TREASURY: 3.17% S&P 500: 1011

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