Winans International Performance Information

7-Year   Summary 2009 2008   2007   2006   2005   2004   2003 Winans International Growth Portfolio IRR-ROI (Black) vs. S&P Index (Red)   Winans International Income Portfolio IRR-ROI (Black) vs. Corporate Income Composite (Red)

Definitions:

1. Growth Investments - 100% growth oriented mid to large capitalized U.S. stocks
2. Income Investments - 100% income oriented investments (corporate bonds, reits, preferred stocks, mlps, etc.)
3. Benchmarks - Price Appreciation and Income of the S&P 500 Index and a corporate income composite (50% Dow Jones Corporate Bond Index, 50% S&P Preferred Stock Index) . S&P Preferred Stock Index Inception date was 09/13/2009 – Only DJCBI was used for Statistics in 2003
4. Winans International Statistics – Net Internal Rate of Return (IRR-ROI)

Disclosures:

Benchmark performance for each portfolio category is based on the strategic weightings described above differ from actual weightings of client holdings during the period displayed. Client portfolios included in each portfolio category are based on client’s stated investment strategy and not on actual asset class weightings within each client’s portfolio. The volatility of each benchmark may be materially different from that of the investment portfolio. The percentage of clients outperforming their benchmark may be less than shown if benchmark weightings were adjusted to reflect actual client asset weightings over the same period. The Difference % in performance between WI Net Return % and Benchmark % may be less than shown, or negative, if benchmark weightings were adjusted to reflect actual client asset weightings over same period.

Past performance should not be taken as representative of future results. A portfolio's performance is a simple or straight average of the time weighted performance of the client portfolios included in each portfolio category and do not meet the requirements of an AIMR track record. The portfolio performance presented may be materially different if using an asset-weighted average of the client portfolios’ performance included in each portfolio category. The information supplied and the formula calculations used are considered reliable but cannot be guaranteed. Information supplied can change without notice.

The performance results portrayed reflect the following: the deduction of expenses paid by the client during the period shown; and, the reinvestment of dividends, capital gains, and other earnings when appropriate (such may be invested in a money market fund or other cash equivalent pending reinvestment).

The results portrayed relate only to a select group of WI’s clients and excludes portfolios that:

1. Accounts opened for less than 12 months
2. Portfolio size is less than $50,000 as of the year-end balance.
3. Clients have changed their investment goal and asset allocation by greater than or equal to 11% during at year-end.
4. Net deposits and withdrawals are greater than or equal to 25% of the year-end balance.
5. Client selected investments are greater than or equal to 10% of portfolio at year-end.
6. Clients have placed restrictions on the investment activities of WI at any time during year.
7. Winans International retirement plan and employee accounts.

The results portrayed may be materially different if excluded accounts were otherwise included in the performance presented. Additional information is available upon request.