Rating bond funds against their peers, we awarded A's to these funds

FUND                                  TOTAL RETURN*

CONVERTIBLES
CALAMOS GROWTH & INCOME A**             27.9%

HIGH YIELD
COLUMBIA HIGH-YIELD**                   11.1
MAINSTAY HIGH-YIELD CORP. BOND B        11.4
MAS HIGH-YIELD INSTL.                   13.0
PIMCO HIGH-YIELD INSTL.                 10.8

INTERMEDIATE (GENERAL)
CALVERT INCOME A                        10.2
DREYFUS BASIC GNMA                       7.6
FEDERATED MANAGED INCOME SEL.**          7.5
FPA NEW INCOME                           7.3
HOTCHKIS & WILEY TOTAL RETURN            8.4
MAS FIXED-INCOME INSTL.                  8.3
MAS SPECIAL PURPOSE F/I INSTL.           8.5
MONETTA INTERMEDIATE BOND**              8.0
PIMCO TOTAL RETURN INSTL.                8.6
SMITH BREEDEN INTERM. DUR. GOVT.         7.5
WARBURG PINCUS FIXED-INC. COMM.          7.2
WEITZ FIXED-INCOME**                     7.2

INTERMEDIATE GOVERNMENT
AMERICAN CENTURY GNMA INV.               7.3
ATLAS U.S. GOVT. & MORTGAGE A            6.8
FIDELITY GINNIE MAE                      7.5
FRANKLIN STRATEGIC MORTGAGE**            8.0
HUNTINGTON MORTGAGE SECS. INV.**        10.1
LEXINGTON GNMA INCOME                    7.9
SEI DAILY GNMA  A**                      7.5
VANGUARD GNMA                            7.8

INTERNATIONAL
FFTW WORLDWIDE-HEDGED                    8.9
GOLDMAN SACHS GLOBAL A                   8.9
PAYDEN & RYGEL GLOBAL FIX.-INC. R        8.6
PIMCO FOREIGN BOND INSTL.               12.0

LONG (GENERAL)
STRONG CORPORATE BOND INV.               9.6
VANGUARD PREFERRED STOCK                 9.2

LONG GOVERNMENT
GALAXY II U.S. TREASURY INDEX RET.       7.1

MULTISECTOR
DREYFUS CORE BOND                        9.4
STRONG SHORT-TERM GLOBAL BOND**          7.4

SHORT (GENERAL)
DREYFUS SHORT-TERM INCOME                7.2
HOTCHKIS & WILEY LOW DURATION            7.1
PIMCO LOW DURATION INSTL.                7.3
SEI DAILY CORP. DAILY INCOME A           6.0
STRONG SHORT-TERM BOND INV.              6.9

SHORT GOVERNMENT
EVERGREEN CAP. PRES. & INCOME A**        5.9
MERRILL LYNCH ADJ. RATE SECS. B**        5.5
MONTGOMERY SHORT DUR. GOVT. BD. R        6.7
SEI DAILY SHORT-DUR. GOVT. A             6.4

ULTRASHORT
MSDW PRIME INCOME TRUST                  7.4
MUNICIPAL CALIF. INTERM.
VANGUARD CALIF. INS. INTERM. TAX-EX.     6.3

MUNICIPAL CALIF. LONG
ALLIANCE MUNI. INCOME CALIF. A           8.2%
AMERICAN CENT. CALIF. HI-YLD. MUNI.      7.4
USAA CALIF. BOND                         7.5

MUNICIPAL NATIONAL INTERM.
AMERICAN HIGH-INCOME MUNI. BOND          7.5
FIDELITY SPARTAN INTERM. MUNI.           6.3
MORGAN GRENFELL MUNI BOND                6.2
SIT TAX-FREE INCOME                      6.0
VAN KAMPEN HIGH-YIELD MUNI. A            7.1

MUNICIPAL NATIONAL LONG
FRANKLIN FEDERAL TAX-FREE INCOME A       6.2
FRANKLIN HIGH YIELD TAX-FREE INCOME A    6.7
PAINEWEBBER MUNI. HIGH-INC. A**          6.5
SCUDDER HIGH-YIELD TAX-FREE              7.7
STEIN ROE HIGH-YIELD MUNIS               6.7
STRONG HIGH-YIELD MUNI. BOND             6.4
T. ROWE PRICE SUMMIT MUNI. INCOME**      7.1
UNITED MUNICIPAL HIGH-INCOME A           7.2

MUNICIPAL N.Y. INTERMEDIATE
BERNSTEIN N.Y. MUNICIPAL                 5.5

MUNICIPAL N.Y. LONG
ALLIANCE MUNI. INCOME N.Y. A             7.5
USAA N.Y. BOND**                         6.6

MUNICIPAL SHORT
DREYFUS SHORT-INTERM. MUNI. BOND         4.6
USAA TAX-EXEMPT SHORT-TERM               5.0
VANGUARD SHORT-TERM TAX-EXEMPT           4.1

MUNI. SINGLE-STATE INTERM.
AMERICAN CENT. FLA. INTRM. MUNI. INV.**  6.2
COLORADO BONDSHARES**                    7.3
DUPREE KY. TAX-FREE INCOME               5.9
SEI TAX-EXEMPT PENN. MUNI. BOND A**      5.6
SIT MINN. TAX-FREE INCOME                5.5
THORNBURG FLA. INTERM. MUNI. A**         5.5
THORNBURG N.M. INTERM. MUNI. A           5.3

MUNI. SINGLE-STATE LONG
ALLIANCE MUNI. INCOME II ARIZ. A**       7.6
ALLIANCE MUNI. INCOME II FLA. A**        8.0
ALLIANCE MUNI. INCOME II MASS. A**       7.9
ALLIANCE MUNI. INCOME II MICH. B**       7.7
ALLIANCE MUNI. INCOME II OHIO B**        6.7
ALLIANCE MUNI. INCOME II PENN. A**       7.7
ALLIANCE MUNI. INCOME II VA. B**         7.8
DUPREE TENN. TAX-FREE INCOME**           7.3
EVERGREEN FLA. HIGH-INC. MUNI. A         7.1
FIDELITY SPARTAN CONN. MUNI. INCOME      6.7
FIDELITY SPARTAN FLA. MUNI. INCOME       6.8
FIDELITY SPARTAN MD. MUNI. INCOME**      6.7
FIDELITY SPARTAN MASS. MUNI. INCOME      6.7
FIDELITY SPARTAN MINN. MUNI. INCOME      6.2
FIDELITY SPARTAN N.J. MUNI. INCOME       6.3
FIDELITY SPARTAN PENN. MUNI. INCOME      6.5
FRANKLIN P.R. TAX-FREE INCOME A          6.2
SCUDDER MASS. TAX-FREE                   6.7
SCUDDER OHIO TAX-FREE**                  6.6
T. ROWE PRICE MD. TAX-FREE               6.2
VANGUARD PENN. INS. LONG TAX-EXEMPT      6.3

*1995-99, appreciation plus reinvestment of dividends and capital gains 
before taxes

**More fund data on Business Week Online

DATA: MORNINGSTAR INC.