September 2003 Select Advisors Manager Performance* Firm / Program Name 2001  2002  YTD   thru 8/29/03    Keystone Financial Planning: Seasonal Switching -36.72% +1.20% +27.42% The Ord Oracle: Nasdaq Timing   -17.69%   +39.14%   +8.06% Spring Creek Investment Advisors: 2889x   -0.70%   +41.10%   +7.32% Strategis Financial Group: Long / Short Strategy   +15.59%   +2.66%   +4.95% Schreiner Capital Management: ContraTrend   +8.97%   +12.38%   +2.50% Czar Suzick: Conservative Growth   -0.34%   +14.58%   +2.43% Flexible Plan Investments: Leibovit VR Trader   +27.56%   +0.32%   +1.77% Enhanced Asset Performance: EAP Fund 5   +30.94%   +13.49%   -5.09% Weiss Money Management: Bear Strategy   +15.52%   +24.78%   -6.35% SCM Inc.: The Volume Investor GST   +14.33%   +89.82%   -9.59% Standard & Poor's 500 Index   -11.87%   -22.48%   +14.57% NASDAQ Composite Index   -21.02%   -31.52%   +35.57% * Performance Disclosure: Schreiner Capital Management's ("SCM") composite performance results reflect time-weighted rates of return of a model portfolio which has actually traded equities based upon SCM's proprietary analysis. Performance results reflect the re-investment of dividends and other earnings, and do not include applicable brokerage commissions and transaction fees. Results also reflect the deduction of a model investment management fee of 2.50%, which is the highest fee charged by SCM for accounts managed using the programs represented above. This annual management fee percentage is calculated quarterly and based on Average Daily Account Balance for the previous quarter and assessed to the account on the first day of the next quarter. Investment management fees vary by individual client account depending upon the market value of assets under management, but generally range between 1.50% and 2.50% of the market value of assets under management. Investment management fees and practices are set forth in SCM's written disclosure statement as same is on file with the United States Securities and Exchange Commission and is available from SCM upon written request. Past performance may not be indicative of future results and the performance of a specific individual client account may vary substantially from the foregoing model performance results. Therefore, no current or prospective client should assume that future performance will be profitable or equal the composite performance results reflected herein. In calculating account performance, SCM has relied upon information provided by various sources, primarily the account's custodian(s). Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will be profitable. SCM's investment strategies may involve above-average portfolio turnover, which could negatively impact upon the net after-tax gain experienced by an individual client. Specific Securities, Recommendations, or Timely Commentary: The above information was last updated on 8/29/2003. Due to various factors, including changing market conditions, the above information may no longer be reflective of SCM's current position(s). Moreover, no client or prospective client should assume that an investment in the securities or sectors mentioned herein will be suitable or profitable, nor that the above information serves as a substitute for personalized investment management services from SCM. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will be either suitable or profitable for a client's investment portfolio. [Back] Copyright © 2003 Schreiner Capital Management, Inc. All Rights Reserved.