C FUND Activity through 3/28/08

3/24/08 buy 8,000 ABP @ 3.27

3/28/08

Alpha -17.43
Beta 0.71
R-sq 0.64


STOCKS $835,451.70
CASH $165,798.78
TOTAL $1,001,250.48

NAV $10.01

C Fund Activity through 3/21/08

3/17/08 sell 10,000 SCLN @ 1.83
3/17/08 buy 4,600 HTZ @ 10.15
3/17/08 buy 2,200 NATL @ 21.97
3/18/08 sell 15,000 IMNY @ 2.61
3/20/08 sell 10,000 PTIX @ 4.43

3/20/08

Alpha -34.29%
Beta 0.67%
R-sq 0.66

STOCKS $800,962.10
CASH $192,415.47
TOTAL $993,377.57

NAV $ 9.93

C Fund Activity through 3/14/08

3/10/08 sell 2300 ESC @ 23.09
3/10/08 buy 2800 AFFX @ 17.36
3/10/08 buy 1300 INFY @ 35.81

3/14/08

Alpha -45.69%
Beta 0.03%
R-sq 0.04

STOCKS $790,422.10
CASH $186,121.46
TOTAL $976,543.56

NAV $9.77

C Fund Activity through 3/07/08

2/25/08 sell SYNT 1800 @ $28.95
sell ACGY 2600 @ $21.01
3/03/08 sell MCGC 4100 @ $11.99
buy SCLN 10,000 @ $2.05
buy RMTR 7,000 @ $3.89

3/07/08

Alpha -40.82%
Beta 0.52%
R-Squared 0.43%

STOCKS $761,264.90
CASH $228,211.92
TOTAL $989,476.82

NAV $9.89

C Fund Activity through 2/29/08

2/25/08
sell SYNT 1800 @ $28.95
sell ACGY 2600 @ $21.01

2/29/08

Alpha -6.04%
Beta 0.49%
R-Squared 0.40%

STOCKS $797,638.20
CASH $227,039.75
TOTAL $1,024,677.95

NAV $ 10.25