Market Updates through November 30, 2002
Year to Date
12/31/01 thru
11/30/02
3 Year Return
11/30/99 thru
11/30/02
5 Year Return
11/30/97 thru
11/30/02
10 Year Return
11/30/92 thru
11/30/02
Inception Return
27 Years
9/16/74 thru
11/30/02
CM TotalAccount
Gross of Fees
4.61%
23.65%
18.83%
16.47%
17.45%
CM Total Account
Net of Fees
3.65%
22.47%
17.65%
15.52%
15.92%
CM Equities
Gross of Fees
-0.78%
25.81%
20.11%
19.83%
20.66%
CM Equities
Net of Fees
-1.69%
24.61%
18.91%
18.57%
19.08%
 
Dow Jones 30
ADJ
-9.64%
-4.85%
4.38%
12.74%
13.99%
S&P 500
ADJ
-17.26%
-11.15%
0.94%
10.12%
13.67%
Russell 2000
ADJ
-16.81%
-3.63%
-1.12%
6.63%
N/A
NASDAQ
ADJ
-24.18%
-23.73%
-1.57%
8.52%
12.21%
 
ROLLING YEAR RETURNS HAVE BEEN AUDITED FROM INCEPTION THROUGH 12/31/01. THE 2002 YEAR-TO-DATE PORTION OF THIS RETURN HAS NOT BEEN AUDITED. THE PURPOSE OF SHOWING BOTH THE AUDITED RETURN AND THE UNAUDITED 2002 YEAR-TO-DATE RETURN IS TO PROVIDE YOU WITH THE MOST UPDATED PERFORMANCE INFORMATION. FOR THE COMPLETE AUDITED PERFORMANCE AND STANDARD DEVIATION REPORTS FROM INCEPTION THROUGH THE PERIOD ENDING DECEMBER 31, 2001, PLEASE SEE OUR ERNST & YOUNG AUDIT. ALL PERFORMANCE COMPOSITES AVAILABLE UPON REQUEST. PAST PERFORMANCE OF MARKETS, COMPOSITES, OR ANY INDIVIDUAL SECURITIES MAY NOT BE INDICATIVE OF FUTURE RESULTS. NET OF FEES PERFORMANCE NUMBERS ARE AVAILABLE IN THE ERNST & YOUNG AUDIT. ERNST & YOUNG LLP HAS PREPARED AND PRESENTED THEIR PERFORMANCE AUDIT OF CENTURY MAMAGEMENT IN COMPLIANCE WITH THE PERFORMANCE PRESENTATION STANDARDS OF THE ASSOCIATION FOR INVESTMENT MANAGEMENT AND RESEARCH (AIMR-PPS). AIMR HAS NOT BEEN INVOLVED WITH THE PREPARATION OR REVIEW OF THE ERNST & YOUNG AUDITED REPORT.

Past performance is no guarantee of future results.

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