CM Value I Composite - 3 Year Performance
                                          12/31/04 - 12/31/07
CM Value I Composite Gross of Fees
CM Value I Composite Net of Fees
7.20%
6.10%
 
Dow Jones 30 ADJ**
S&P 500 ADJ**
NASDAQ**
RUSSELL 2000 ADJ**
RUSSELL 3000 ADJ**
9.70%
  8.61%

 6.83%

6.80%
 8.89%
 
CM Value I Composite
(Stocks, Bonds, Cash)
1 Year
3 Years
5 Years
10 Years
33.25 Years

IMPORTANT PERFORMANCE DISCLOSURES
PLEASE READ

THE ROLLING YEAR RETURNS WERE PREPARED BY CENTURY MANAGEMENT AND PRESENTED TO AND VERIFIED BY ASHLAND PARTNERS & COMPANY LLP. ASHLAND PARTNERS & COMPANY LLP HAS VERIFIED THE COMPLIANCE OF CENTURY MANAGEMENT WITH THE REQUIREMENTS OF THE GLOBAL INVESTMENT PERFORMANCE STANDARDS (GIPS®) ON A FIRMWIDE BASIS FROM SEPTEMBER 16, 1974 THROUGH DECEMBER 31, 2007.

PAST PERFORMANCE OF MARKETS, COMPOSITES, OR ANY INDIVIDUAL SECURITIES MAY NOT BE INDICATIVE OF FUTURE RESULTS
.

**Source of index returns: FT Interactive Data Corp.

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