These 98 funds earned A's, our ratings for superior risk-adjusted returns 
over the past five years

FUND                                    AVERAGE ANNUAL   INVESTMENT
                                        TOTAL RETURN*     CATEGORY

AIM TAX-FREE INTERMEDIATE                    5.0%        Muni. Short
AMERICAN CENT.-BENHAM CALIF. MUNI.
 HIGH-YIELD                                  6.9         Muni. Calif. Long
AMERICAN CENT.-BENHAM CALIF. T/F LIM.**      4.3         Muni. Short
ASSET MGMT. ADJUSTABLE RATE                  5.7         Ultrashort
BOSTON 1784 T/E MED.-TERM INCOME             6.1         Muni. Ntl. Interm.
BT INVESTMENT LIFECYCLE SHORT**              9.1         Short (Gen.)
CALAMOS GROWTH & INCOME A**                 16.2         Convertibles
CALVERT TAX-FREE RES. LIMITED-TERM A         4.0         Muni. Short
COLONIAL HIGH-YIELD MUNI. B**                6.1         Muni. Ntl. Long
COLORADO BONDSHARES**                        7.9         Muni. S-S Interm.
COLUMBIA HIGH-YIELD**                        9.1         High-Yield
DAVIS TAX-FREE HIGH INCOME B                 5.3         Muni. Short
DELAWARE NATL. HIGH-YIELD MUNI. A**          6.9         Muni. Ntl. Interm.
DREYFUS PA. INTERM. MUNI. BOND**             6.2         Muni. S-S Interm.
DREYFUS SHORT-INTERM. MUNI. BOND**           4.1         Muni. Short
DUPREE KENTUCKY TAX-FREE SHORT-MED.          4.2         Muni. Short
DUPREE TENNESSEE TAX-FREE INCOME**           7.6         Muni. S-S Long
EATON VANCE PRIME RATE RESERVES              7.0         Ultrashort
EQUITRUST HIGH-YIELD BOND**                  7.1         High-Yield
EVERGREEN FLORIDA HIGH-INCOME MUNI. A        7.1         Muni. S-S Long
EXCELSIOR SHORT-TERM TAX-EXEMPT SECS.**      4.0         Muni. Short
FEDERATED SHORT-TERM MUNI. INST.             4.3         Muni. Short
FFTW LIMITED DURATION**                      6.1         Short Government
FFTW U.S. SHORT-TERM FIXED-INCOME            5.1         Ultrashort
FFTW WORLDWIDE FIXED-INCOME HEDGED          10.6         International
FIDELITY HIGH-INCOME                        10.8         High-Yield
FIDELITY MORTGAGE SECURITIES INIT.           7.8         Interm. Govt.
FIDELITY SPARTAN SHORT-INTERMEDIATE MUNI.    4.4         Muni. Short
59 WALL STREET TAX-FREE SHORT-INTERM.**      3.9         Muni. Short
FIRST AMERICAN LIMITED-TERM INCOME A**       5.5         Short (Gen.)
FPA NEW INCOME                               6.9         Intermediate (Gen.)
FRANKLIN CALIF. HIGH-YIELD MUNI. A           7.3         Muni. Calif. Long
FRANKLIN CALIF. TAX-FREE INCOME A            6.3         Muni. Calif. Long
FRANKLIN HIGH YIELD TAX-FREE INCOME A        6.9         Muni. Ntl. Long
HARBOR SHORT DURATION                        5.8         Short (Gen.)
HOMESTEAD SHORT-TERM BOND                    5.8         Short (Gen.)
HOTCHKIS & WILEY LOW DURATION                7.5         Short (Gen.)
HOTCHKIS & WILEY SHORT-TERM INVMT.**         6.1         Ultrashort
HOUGH FL. TAX-FREE SHORT**                   4.3         Muni. Short
IDAHO TAX-EXEMPT**                           5.6         Muni. S-S Interm.
INVESCO SELECT INCOME                        8.4         Long (Gen.)
JANUS FLEXIBLE INCOME                        8.7         Multisector
KENT MI. MUNICIPAL BOND INVMT.**             4.3         Muni. Short
LEXINGTON GNMA INCOME                        7.3         Interm. Govt.
LIMITED-TERM N.Y. MUNICIPAL A                5.6         Muni. Short
LOOMIS SAYLES SHORT-TERM BD. INSTL.**        6.1         Short-Term (Gen.)
MAINSTAY HIGH-YIELD CORPORATE BOND B         9.7         High-Yield
MARSHALL SHORT-TERM INCOME                   5.4         Short-Term (Gen.)
MERRILL LYNCH SENIOR FLOATING-RATE**         6.2         Ultrashort (Gen.)
MONTGOMERY CALIF. T/F INTERMEDIATE BD. R**   5.8%        Muni. Calif. Interm.
MONTGOMERY SHORT-DURATION GOVT. BD. R        6.4         Short Government
MORGAN GRENFELL MUNICIPAL BOND**             6.2         Muni. Ntl. Interm.
MSDW PRIME INCOME TRUST**                    7.6         Ultrashort (Gen.)
NATIONS SHORT-TERM MUNI. INV. A**            4.2         Muni. Short
NORTHEAST INVESTORS                         10.4         High-Yield
ONE GROUP MUNICIPAL INCOME A**               5.6         Muni. Ntl. Interm.
PAYDEN & RYGEL GLOBAL FIXED-INCOME R         8.1         International
PERMANENT PORTFOLIO VERSATILE BOND**         5.0         Short (Gen.)
PIMCO FOREIGN BOND INSTL.                   10.0         International
PIMCO HIGH-YIELD INSTL.                     10.7         High-Yield
PIMCO LOW DURATION INSTL.                    6.8         Short (Gen.)
PIMCO LOW DURATION II INSTL.                 6.2         Short (Gen.)
PIMCO SHORT-TERM INSTL.                      6.3         Ultrashort (Gen.)
T. ROWE PRICE MARYLAND SHORT-TERM T/F**      4.1         Muni. Short
T. ROWE PRICE SPECTRUM INCOME                8.6         Multisector Bond
T. ROWE PRICE SUMMIT MUNICIPAL INCOME        7.0         Muni. Ntl. Long
T. ROWE PRICE SUMMIT MUNICIPAL INTERM.       6.1         Muni. Ntl. Interm.
T. ROWE PRICE TAX-FREE HIGH-YIELD            6.4         Muni. Ntl. Long
T. ROWE PRICE TAX-FREE SHORT-INTERM.         4.5         Muni. Short
SEI DAILY CORP. DAILY INCOME A**             5.7         Ultrashort
SEI DAILY SHORT-DURATION GOVT. A**           5.9         Short Government
SEI TAX-EXEMPT PA. MUNI. BOND A**            5.3         Muni. S-S Interm.
SIT MINNESOTA TAX-FREE INCOME                6.5         Muni. Short
SIT TAX-FREE INCOME                          6.7         Muni. Ntl. Interm.
SIT U.S. GOVERNMENT SECURITIES               6.6         Short Government
SMITH BARNEY MUNI. LIMITED-TERM A            5.4         Muni. Ntl. Interm.
SMITH BREEDEN SHORT DUR. U.S. GOV.**         5.5         Ultrashort
SSGA YIELD PLUS                              5.3         Ultrashort
STEIN ROE HIGH-YIELD MUNIS                   6.4         Muni. Ntl. Long
STI CLASSIC INVESTMENT GRADE T/E INV.**      6.5         Muni. Ntl. Interm.
STRONG ADVANTAGE                             5.8         Ultrashort
STRONG CORPORATE BOND                        9.4         Intermediate (Gen.)
STRONG HIGH-YIELD MUNI BOND                  7.4         Muni. Ntl. Long
TAX-FREE FUND OF VERMONT                     5.5         Muni. S-S Long
U.S. GLOBAL INV. NEAR-TERM TAX-FREE          4.4         Muni. Short
UNITED MUNICIPAL HIGH-INCOME A               7.6         Muni. Ntl. Long
USAA TAX-EXEMPT INTERMEDIATE-TERM            6.1         Muni. Ntl. Interm.
USAA TAX-EXEMPT SHORT-TERM                   4.8         Muni. Short
VAN KAMPEN HIGH-YIELD MUNI. A                7.4         Muni. Ntl. Interm.
VAN KAMPEN PRIME-RATE INCOME                 6.9         Ultrashort
VANGUARD GNMA                                7.4         Interm. Govt.
VANGUARD HIGH-YIELD CORP                     8.7         High Yield
VANGUARD INTERMEDIATE-TERM TAX-EXEMPT        5.6         Muni. Ntl. Interm.
VANGUARD LIMITED-TERM TAX-EXEMPT             4.6         Muni. Short
VANGUARD SHORT-TERM CORPORATE                6.1         Short (Gen.)
VANGUARD SHORT-TERM TAX-EXEMPT               3.9         Muni. Short
WARBURG PINCUS N.Y. INT. MUNI. **            4.9         Muni. Short
WASATCH-HOISINGTON U.S. TREASURY**          10.1         Long Government


*1994-1998 pretax returns, includes appreciation plus reinvestment of 
dividends and capital gains   
**More fund data on Business Week Online

DATA: MORNINGSTAR INC.