Report Detail Summary

The LJE Asset Allocation Process, the Third Quarter Performance and the Fourth Quarter Outlook

September 26, 2003

The asset allocation tilts produced by the model are easily described: the model increases exposure to both U.S. and international equities at the expense of the fixed income. Within the domestic stocks the tilt is in favor of the larger cap stocks and the only domestic groups underweighted by our process are the small-cap growth and mid-cap value stocks.

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