C Fund Activity through 2/15/08

2/11/08
Sell FUL 2500 @21.11
Buy RYAAAY 1600 @ 31.30
NETL 2000 @ 23.87
FRP 4800 @ 10.30

FUND positions by SECTORS:

INFORMATION TECH 52.44% ** INDUSTRIALS 15.83% ** ENERGY 13.35% ** HEALTH CARE 6.56% ** FINANCIALS 6.21% ** TELECOMMUNICATIONS 5.61%

FUND position by STYLE:

MICRO CAP VALUE 16.74%
GROWTH 3.76%
BLEND 17.10%
SMALL CAP VALUE 6.10%
GROWTH 5.80%
BLEND 5.71%
MID CAP GROWTH 10.92%
BLEND 6.63%
LARGE CAP GROWTH 11.47%
UNCLASSIFIED 15.77%

2/15/08
STOCK VALUE $884,309.80
CASH $163,469.86

TOTAL $1,047,779.66 NAV $10.48