The Worst Returns

                                      TOTAL RETURN*
MATTHEWS KOREA                          -68.31%
MIDAS                                   -62.33
U.S. GLOBAL INVESTORS GOLD SHS.         -60.43
INVESCO STRATEGIC GOLD                  -59.89
GABELLI GOLD                            -57.47
BULL & BEAR GOLD INVESTORS              -56.63
IDS PRECIOUS METALS A                   -54.34
PIMCO PRECIOUS METALS C                 -53.27
BLANCHARD PRECIOUS METALS               -53.25
FIDELITY SEL. PREC. METALS & MIN.       -50.98
LEXINGTON STRAT. INVESTMENTS            -50.44
MERRILL LYNCH EMERG. TIGERS B           -50.00
CAPPIELLO-RUSHMORE GOLD                 -49.30
DEAN WITTER PREC. MTL. & MIN. B         -48.38
MORGAN STANLEY ASIAN GROWTH A           -48.05
AMERICAN CENTURY GLOBAL GOLD            -47.87
FONTAINE GLOBAL GROWTH                  -47.60
LEXINGTON GOLDFUND                      -47.52
U.S. GLOBAL INVSTRS. WORLD GOLD         -46.14
BT INVESTMENT PAC. BASIN EQ.            -45.82
VANGUARD SP. GOLD & PREC. MTLS.         -45.70
FIDELITY SELECT AMERICAN GOLD           -45.69
VAN ECK GOLD/RESOURCES A                -45.45
KEYSTONE PREC. MTLS. HOLDINGS           -45.32
SCUDDER GOLD                            -44.24
USAA GOLD                               -44.23%
FIDELITY EMERGING MARKETS               -44.04
GT GLOBAL NEW PACIFIC GRWTH A           -43.82
PILGRIM AM. MSTRS. AS.-PAC. EQ. A       -42.80
RYDEX PRECIOUS METALS                   -42.76
PIONEER GOLD A                          -42.72
GOLDMAN SACHS ASIA GROWTH A             -41.46
VAN ECK INTL. INVESTORS GOLD A          -41.42
MONTEREY OCM GOLD                       -41.23
JAPAN ALPHA A                           -41.18
MERRILL LYNCH DRAGON B                  -41.08
FRANKLIN GOLD I                         -40.73
EATON VANCE WORLD. DEV. RES. B          -39.73
MATTHEWS PACIFIC TIGER                  -39.23
GUINNESS FLIGHT ASIA BLUE CHIP          -39.15
FIDELITY SOUTHEAST ASIA                 -38.75
INVESCO ASIAN GROWTH                    -38.75
DEAN WITTER PACIFIC GROWTH B            -38.64
T. ROWE PRICE NEW ASIA                  -37.47
TEMPLETON PACIFIC GROWTH I              -37.20
LEX. CROSBY SM. CAP ASIA GRTH.          -36.93
INVESCO PACIFIC BASIN                   -36.69
SCUDDER PACIFIC OPPORTUNITIES           -36.39
ALLIANCE ALL-ASIA INVESTMENT B          -36.13
FRONTIER EQUITY                         -35.66

*Appreciation plus reinvestment of dividends and capital gains before taxes, 
Jan. 1 through Dec. 12, 1997

DATA: MORNINGSTAR INC.