C Fund Activity through 5/30/08

5/27/08 sell 1560 ISH @ 23.62
5/27/08 sell 2200 NATL @ 20.71
5/27/08 buy 6000 RGEN @ 5.83

Alpha -1.85
Beta 1.10
R-sq 0.51

STOCKS $ 766,660.00
CASH $ 324,867.51
TOTAL $ 1,091,527.51

NAV $ 10.92