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TING:2 STAR - Avoid PROVIDER:Standard 6 POOr'S 03 26,100 (5) FRANKLIN RESOURCES INC 92.88000 2,424,168.00- 10,440.00- .431 03 98,300 IS) GENERAL MOTORS 21.90000 2,152,770.00- 196,600.00- 9.132 'CSFB RATING :OUTPERFORM INDEPENDENT RATING:2 STAR - Avoid PROVIDER:Standard 6 POOr'S 03 70,080 I

.90000 2,152,770.00- 196,600.00- 9.132 'CSFB RATING :OUTPERFORM INDEPENDENT RATING:2 STAR - Avoid PROVIDER:Standard 6 POOr'S 03 70,080 IS) HCC INSURANCE HOLDINGS INC 30.55000 2,140,944.00- 21,024.00- .982 03 16,130 IS) INTERNATIONAL GAME TECHNOLOGIES 29.35000 473,415.50- 8,065.00- 1.704 01 1 INVITRO

(S) EDO CORPORATION 27.06000 649,440.00- *CSFB RATING :NEUTRAL INDEPENDENT RATING:3 STAR - Hold PROVIDER:Standard 4 Poor's 03 98,300 (S) GENERAL MOTORS 19.42000 1,908,986.00- *CSFR RATING :OUTPERFORM INDEPENDENT RATING:3 STAR - Hold PROVIDER:Standard & Poor's )3 70,080 (S) HCC INSURANCE HOL

) GENERAL MOTORS 19.42000 1,908,986.00- *CSFR RATING :OUTPERFORM INDEPENDENT RATING:3 STAR - Hold PROVIDER:Standard & Poor's )3 70,080 (S) HCC INSURANCE HOLDINGS INC 29.68000 2,079,974.40- )1 2,646 INTERNATIONAL GAME TECHNOLOGIES 30.78000 81,443.88 3 2,646 (S) INTERNATIONAL GAME TECHNOLOGIES 30.78000

FFSHORE ARRANGING FLIP TO 736FY0 FROM 746FY0 125,000 LNG 2.25 08/01/12 02.2500 08/01/2012 OFFSHORE ARRANGING FLIP TO 736FY0 FROM 746FY0 -29,450 GENERAL MOTORS OFFSHORE ARRANGING FLIP TO 736FY0 FROM 746FY0 1,000 CENTERPOINT ENERGY INC OFFSHORE ARRANGING FLIP TO 736FY0 FROM 746FY0 75 PPL CORP OFFSHORE

CBRL GROUP INC OFFSHORE ARRANGING FLIP TO 736FY0 FROM 746FY0 4,000 CENTERPOINT ENERGY INC OFFSHORE ARRANGING FLIP TO 736FY0 FROM 746FY0 -1,000 HCC INSURANCE HOLDINGS INC DONE AT EDGETRADE.COM INC. EFTA01593170 -1,500 CMS ENERGY CORP -400 CBRL GROUP INC DONE AT EDGETRADE.COM INC. DONE AT EDGETRADE.COM INC. 33.574

E.COM INC. -200,000 CONSECO INC CVT 03.5000 09/30/2035 CORRECTION DONE AT BANC OF AMERICA SECURITIES LLC 03 04/11 BOUGHT 01 04/11 SOLD 39,350 GENERAL MOTORS DONE AT GOLDMAN SACHS AND COMPANY -100,000 GENERAL MTRS CORP CV C 33 06.2500 07/15/2033 CORRECTION DONE AT GOLDMAN SACHS AND COMPANY 03 04/11

746FY0 485 CSX CORPORATION OFFSHORE ARRANGING FLIP TO 736FY0 FROM 746FY0 -1,360 RPM INCORPORATED EFTA01593374 DONE AT EDGETRADE.COM INC. -270 HCC INSURANCE HOLDINGS INC DONE AT EDGETRADE.COM INC. 34.02980 19.20525 26,110.85 9,186.27 34,059.02 9,186.27 34,678.06 26,110.85 19.29030 66.34460 41,460.65 24,876.

ER ID. STATEMENT PERIOD PAGE UNDISCLOSED 08/01/06 TO 08/31/06 17 OF TYPE LONG OR SHORT(S) DESCRIPTION PRICE MARKET VALUE 03 29,450 (S) GENERAL MOTORS 29.18000 859,351.00- *CSSU RATING :NEUTRAL INDEPENDENT RATING:3 STAR - Hold PROVIDER:Standard & Poor's 03 72,460 (S) HCC INSURANCE HOLDINGS

50 (S) GENERAL MOTORS 29.18000 859,351.00- *CSSU RATING :NEUTRAL INDEPENDENT RATING:3 STAR - Hold PROVIDER:Standard & Poor's 03 72,460 (S) HCC INSURANCE HOLDINGS INC 32.49000 2,354,225.40- 01 3,277 MASCO CORP 27.41000 89,822.57 •CSSU RATING :NEUTRAL INDEPENDENT RATING:4 STAR - Accumulate PROVIDER:Standard

IS) EDO CORPORATION 29.13000 674,213.85- •CSSU RATING :NEUTRAL INDEPENDENT RATING:3 STAR - Hold PROVIDER:Standard 6 POOr'S 03 98,300 IS) GENERAL MOTORS 20.31000 1,996,473.00- •CSSU RATING :NEUTRAL INDEPENDENT RATING:2 STAR - Avoid PROVIDER:Standard 6 Poor's 03 70,080 IS) HCC INSURANCE HOLDI

IS) GENERAL MOTORS 20.31000 1,996,473.00- •CSSU RATING :NEUTRAL INDEPENDENT RATING:2 STAR - Avoid PROVIDER:Standard 6 Poor's 03 70,080 IS) HCC INSURANCE HOLDINGS INC 32.19000 2,255,875.20- 03 24,073 IS) MASCO CORP 31.19000 750,836.87- •CSSU RATING :OUTPERFORM INDEPENDENT RATING:4 STAR - Accumulate PROVIDE

OUNTS IN US DOLLAR *** PORTFOLIO LONG OR DESCRIPTION SHORT(S) PRICE MARKET VALUE ESTIMATED ANNUAL INCOME CURRENT YIELD % 03 58,950 IS) GENERAL MOTORS 26.93000 1,587,523.50- 58,950.00- 3.713 •CSSU RATING :NEUTRAL INDEPENDENT RATING:2 STAR - Avoid PROVIDER:Standard 6 Poor's 03 72,460 IS) H

S 26.93000 1,587,523.50- 58,950.00- 3.713 •CSSU RATING :NEUTRAL INDEPENDENT RATING:2 STAR - Avoid PROVIDER:Standard 6 Poor's 03 72,460 IS) HCC INSURANCE HOLDINGS INC 30.69000 2,223,797.40- 28,984.00- 1.303 03 14,723 IS) MASCO CORP 31.02000 456,707.46- 12,956.24- 2.837 •CSSU RATING :NEUTRAL INDEPENDENT

D. STATEMENT PERIOD PAGE UNDISCLOSED 07/01/06 TO 07/31/06 19 OF 20 TYPE LONG OR SHORT(S) DESCRIPTION PRICE MARKET VALUE 03 58,950 (S) GENERAL MOTORS 32.23000 1,899,958.50- *CSSU RATING :NEUTRAL INDEPENDENT RATING:3 STAR - Hold PROVIDER:Standard & Poor's 03 72,460 (S) HCC INSURANCE HOLDIN

(S) GENERAL MOTORS 32.23000 1,899,958.50- *CSSU RATING :NEUTRAL INDEPENDENT RATING:3 STAR - Hold PROVIDER:Standard & Poor's 03 72,460 (S) HCC INSURANCE HOLDINGS INC 30.49000 2,209,305.40- 03 2,723 (S) MASCO CORP 26.73000 72,785.79- "CSSU RATING :NEUTRAL INDEPENDENT RATING:4 STAR - Accumulate PROVIDER:

EDO CORPORATION 24.34000 502,499.30- •CSSU RATING :UNDERPERFORM INDEPENDENT RATING:2 STAR - Avoid PROVIDER:Standard 6 Poor's 03 58,950 IS) GENERAL MOTORS 29.79000 1,756,120.50- *CSSU RATING :NEUTRAL INDEPENDENT RATING:2 STAR - Avoid PROVIDER:Standard 6 Poor's 03 72,460 IS) HCC INSURANCE HOLDI

IS) GENERAL MOTORS 29.79000 1,756,120.50- *CSSU RATING :NEUTRAL INDEPENDENT RATING:2 STAR - Avoid PROVIDER:Standard 6 Poor's 03 72,460 IS) HCC INSURANCE HOLDINGS INC 29.44000 2,133,222.40- 03 5,223 IS) MASCO CORP 29.64000 154,809.72- *CSSU RATING :NEUTRAL INDEPENDENT RATING:4 STAR - Accumulate PROVIDER

26.13000 604,778.85- 2,777.40- .459 'CSSU RATING :UNDERPERFORM INDEPENDENT RATING:3 STAR - Hold PROVIDER:Standard 6 Poor's 03 58,950 IS) GENERAL MOTORS 22.88000 1,348,776.00- 58,950.00- 4.371 'CSSU RATING :NEUTRAL INDEPENDENT RATING:2 STAR - Avoid PROVIDER:Standard 6 Poor's 03 73,030 (S)

22.88000 1,348,776.00- 58,950.00- 4.371 'CSSU RATING :NEUTRAL INDEPENDENT RATING:2 STAR - Avoid PROVIDER:Standard 6 Poor's 03 73,030 (S) HCC INSURANCE HOLDINGS INC 33.49000 2,445,774.70- 21,909.00- .896 01 1,200 MASCO CORP 31.90000 38,280.00 1,056.00 2.759 •CSSU RATING :NEUTRAL INDEPENDENT RATING:4 S