Rising interest rates took their toll on most bond funds

                                   (AVERAGE ANNUAL TOTAL RETURN*)
CATEGORY                            1999     1997-99     1995-99
                                    ----------------------------

CONVERTIBLES                        31.9%     16.7%       17.5%
EMERGING MARKETS BOND               25.9       1.7        11.2
ULTRASHORT                           4.7       5.2         5.6
HIGH-YIELD                           4.3       5.5         9.3
MULTISECTOR                          2.3       4.1         7.6
SHORT (GENERAL)                      2.1       5.0         6.2
SHORT GOVERNMENT                     1.6       4.7         5.9
MUNICIPAL SHORT                      0.7       3.6         4.5
INTERMEDIATE GOVERNMENT             -1.2       4.8         6.7
INTERMEDIATE (GENERAL)              -1.2       4.9         6.9
MUNI. CALIF. INTERMEDIATE           -2.0       3.7         6.0
MUNI. NATIONAL INTERMEDIATE         -2.0       3.7         5.7
MUNI. N.Y. INTERMEDIATE             -2.5       3.6         5.7
MUNI. SINGLE-STATE INTERMEDIATE     -2.5       3.3         5.5
LONG (GENERAL)                      -2.7       4.7         7.6
INTERNATIONAL BOND                  -3.6       2.4         6.2
MUNI. SINGLE-STATE LONG             -4.3       3.3         5.9
MUNI. NATIONAL LONG                 -4.5       3.3         6.0
MUNI. N.Y. LONG                     -4.8       3.2         5.9
MUNI. CALIFORNIA LONG               -5.1       3.3         6.3
LONG GOVERNMENT                     -8.0       5.1         7.7
TAXABLE BOND FUNDS                   1.3       5.0         7.3
TAX-FREE BOND FUNDS                 -3.5       3.4         5.8
ALL BOND FUNDS                      -1.0       4.2         6.5


*Appreciation plus reinvestment of dividends and capital gains before 
taxes

DATA: MORNINGSTAR INC.