POTENTIAL TAX BOMBS

                                  UNREALIZED
FUND                                GAINS %*

SMITH BARNEY TELECOMM. INCOME        99.3%
ARMADA TAX MANAGED EQUITY            83.4
CENTURY SHARES                       65.7
GALAXY GROWTH II TRUST               65.7
WELLS FARGO EQUITY INDEX             60.5




POTENTIAL TAX SHELTERS

                                   UNREALIZED
FUND                               LOSSES %*

JACOB INTERNET                       429.4%
INVESCO GOLD                         313.5
PROFUNDS ULTRASHORT OTC              304.1
AM. CENTURY GLOBAL GOLD              182.1
FIDELITY EMERGING MARKET             181.2



* Biggest gains and losses as a percentage of total assets for funds with 
more than $50 million

Data: Standard & Poor's