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uity performance in Europe. As of May 2005, the MSCI Europe Index consisted of the following 16 developed market country indices: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom. The MSCI
state Investment Trusts, commodities, and cash. The RIC currently recognizes four basic investment strategies: Income, Growth & Income, Growth, and Maximum Growth. The strategy selected is based upon the individual investor's objectives and risk tolerance. Your selected portfolio will determine the specific a
uity performance in Europe. As of May 2005, the MSCI Europe Index consisted of the following 16 developed market country indices: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom. The MSCI
state Investment Trusts, commodities, and cash. The RIC currently recognizes four basic investment strategies: Income, Growth & Income, Growth, and Maximum Growth. The strategy selected is based upon the individual investor's objectives and risk tolerance. Your selected portfolio will determine the specific a
equity performance in Europe. As of May 2005. the MSCI Europe Index consisted of the following 16 developed market country indices' Austria. Bgium. Denmark. Finland. France. Germany. Greece. Irancl. Italy. the Netherlands. Norway, Portugal, Spain. Sweden, Switzerland and the United Kingdom. —The MSCI J
Estate €nvestment Trusts. commodities, and cash The AIC currently recognizes four basic investment strategies. Income. Growth & Income. Growth. and Maximum Growth. The strategy selected is based upon the individual investors obtedives and risk tolerance. Yote selected portfolio will determine the specific al€o
Entities connected to both Denmark and Maximum Growth

Finland
LOCATION
Norway
LOCATION
Belgium
LOCATION
United States
LOCATION
Luxembourg
LOCATION
Julie K. Brown
PERSON
New Zealand
LOCATION
Bloomberg L.P.
ORGANIZATION
New York
LOCATION
Vienna
LOCATION
Deutsche Bank
ORGANIZATION
Baltimore
LOCATION
Moody's
ORGANIZATION
The Wall Street Journal
ORGANIZATION
Milan
LOCATIONTreasury Inflation Protected Securities
ORGANIZATION
Zurich
LOCATION
Madrid
LOCATIONDeutsche Asset & Wealth Management
ORGANIZATIONthe Frank Russell Company
ORGANIZATION