Buford, Dickson, Harper & Sparrow, Inc.

Effective Annual Return

Annual Performance Comparison

1. The investment results for BDHS Large Cap Portfolio begin 1/1/96.
2. The rate of return presented above depicts the dollar weighted rate of return of all actual fully discretionary equity funds under management on a calendar year basis. Deviations within the individual accounts do occur on a yearly basis, however, these averages are generally indicative of our equity investment results generated over time.
3. The rate of return considers the following. a) All money flows into or out of the funds b) All realized gains and losses c) All unrealized gains or losses d) All dividend and interest income.
4. There is no statistical correlation between past and future performance. As such there is no assurance that results approximating these returns will continue in the future.
5. Gross means before fees and commissions. Net returns are after fees and commissions.
6. The Wilshire Large Growth Index is a market cap weighted index, selected by Wilshire Associates Incorporated, including a selection of securities from the Wilshire Large Cap 750 Index that meet Wilshire's definition of growth.
7. Dow Jones Wilshire Indexes were discontinued as of April 1, 2009.
8. The S&P500 is an unmanaged index of 500 stocks selected by Standard & Poors.
9. The Russell 1000 Growth Index is an unmanaged index of 1000 stocks selected by the Frank Russell Company.
10. Returns are calculated using AIMR/GIPS guidelines.