1/12/2004

Encouraging First Week for the Year

Hello:

For the first 5 trading sessions of this year, the S&P 500 rose approximately 1.8%. Since 1950, the S&P 500 has risen for the year 85% of the time after the index gains during its first five trading sessions. While past performance does not guarantee future results, this may be a very bullish indicator for the year. (Please note: the S&P 500 is an unmanaged index which cannot be invested into directly).

The contribution limit for 401k and 403b plans rises to $13,000 for 2004. Catch up provisions for individuals over 50 increase to $3000. You may wish to check with your benefits representative about updating your contribution election for the new year.

Terri G. Millson, CIMC President

Ray Dicius, GEPC LPL Branch Manager