<SEC-DOCUMENT>0001171200-11-000560.txt : 20110629
<SEC-HEADER>0001171200-11-000560.hdr.sgml : 20110629
<ACCEPTANCE-DATETIME>20110629172913
ACCESSION NUMBER:		0001171200-11-000560
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20101231
FILED AS OF DATE:		20110629
DATE AS OF CHANGE:		20110629

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAPITAL CITY BANK GROUP INC
		CENTRAL INDEX KEY:			0000726601
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				592273542
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-13358
		FILM NUMBER:		11939980

	BUSINESS ADDRESS:	
		STREET 1:		217 N MONROE ST
		CITY:			TALLAHASSEE
		STATE:			FL
		ZIP:			32301
		BUSINESS PHONE:		8506710300

	MAIL ADDRESS:	
		STREET 1:		PO BOX 11248
		CITY:			TALLAHASSEE
		STATE:			FL
		ZIP:			32302-3248
</SEC-HEADER>
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<TYPE>11-K
<SEQUENCE>1
<FILENAME>i00303_ccbg-11k.htm
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>UNITED STATES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SECURITIES AND EXCHANGE COMMISSION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>WASHINGTON, D.C.</font></B><font size=2>&nbsp;&nbsp;</font><b><font size=2>20549</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;<img src="img1.gif"><br> </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>FORM 11-K</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>ANNUAL REPORT PURSUANT TO SECTION 15(d) </font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>OF THE SECURITIES EXCHANGE ACT OF 1934</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>&nbsp;</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>(Mark One)</font></p>


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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>{X}</font></b></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</font></b></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in; text-indent:0.5in;text-align:justify;'><font size=2>For the fiscal year ended December 31, 2010</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in; text-indent:0.5in;text-align:justify;'><B><font SIZE=2>OR</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>{ }</font></b></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</font></b></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in; text-indent:0.5in;text-align:justify;'><font size=2>For the transition period from __to __</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Commission file number </font><u><font size=2>0-13358</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>A. Full title of the plan and the address of the plan, if different from that of the issuer named below:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><u><b><font size=2>CAPITAL CITY BANK GROUP, INC. 401(k) Plan</font></b></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Exact name of the plan)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Capital City Bank Group, Inc.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>217 North Monroe Street</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Tallahassee, Florida 32301</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>
<B><font SIZE=2>REQUIRED INFORMATION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>The following financial statements shall be furnished for the plan:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:justify;'><font size=2>Capital City Bank Group, Inc. 401(k) Plan (&#147;Plan&#148;) is subject to the Employee Retirement Income Security Act of 1974 (&#147;ERISA&#148;).&nbsp;&nbsp;Therefore, in lieu of the requirements of items 1-3 of Form 11-K, the financial statements and schedule of the Plan for the fiscal year ended December 31, 2010 have been prepared in accordance with the financial reporting requirements of ERISA.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>CAPITAL CITY BANK GROUP, INC.</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>401(k) PLAN</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>FINANCIAL STATEMENTS</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>December 31, 2010 and 2009</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Tallahassee, Florida</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=2>FINANCIAL STATEMENTS</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>December 31, 2010 and 2009</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=2>CONTENTS</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>1</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font SIZE=2>FINANCIAL STATEMENTS</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>2</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>3</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>NOTES TO FINANCIAL STATEMENTS</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>4</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font SIZE=2>SUPPLEMENTAL SCHEDULE  </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>9</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>
</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=2>1</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=2>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>The Retirement Committee of</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>  &nbsp;&nbsp;&nbsp;Capital City Bank Group, Inc.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Tallahassee, Florida</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>We have audited the accompanying statements of net assets available for benefits of Capital City Bank Group, Inc. 401(k) Plan (the &#147;Plan&#148;) as of December 31, 2010 and 2009, and the related statement of changes in net assets available for benefits for the year ended December 31, 2010.  These financial statements are the responsibility of the Plan's management.  Our responsibility is to express an opinion on these financial statements based on our audits.  </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States).  Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.  An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.  We believe that our audits provide a reasonable basis for our opinion.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2010 and 2009, and the changes in net assets available for benefits for the year ended December 31, 2010 in conformity with U.S. generally accepted accounting principles.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Our audit was conducted for the purpose of forming an opinion on the basic financial statements taken as a whole.  The supplemental Schedule H, Line 4i &#150; Schedule of Assets (Held at End of Year) is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974.  The supplemental schedule is the responsibility of the Plan's management.  The supplemental schedule has been subjected to the auditing procedures applied in the audit of the basic 2010 financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic 2010 financial statements taken as a whole.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:3in; text-indent:0.5in;text-align:justify;'><font size=2><font size=2>s/s Crowe Horwath LLP</font></font></p>
<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:3in; text-indent:0.5in;text-align:justify;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:3in; text-indent:0.5in;text-align:justify;'><font size=2>Crowe Horwath LLP</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>South Bend, Indiana</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>June 28, 2011</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=2>2</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>CAPITAL CITY BANK GROUP, INC. 401(k) PLAN</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>&nbsp;</p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=2>STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>December 31, 2010 and 2009</font></p>
<table width="100%" border="0" cellpadding=0 cellspacing=0 style='border-collapse:collapse'>
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    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><font size=2>2010</font></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><font size=2>2009</font></u></p></td>
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    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>ASSETS</font></B></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
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    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:18.75pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Cash</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>$   &nbsp;&nbsp;     2,314</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:18.75pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Investments, at fair value (Note 3)</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:7.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>19,111,360</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>16,303,354</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:18.75pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Receivables</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:37.5pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Participant contribution receivable</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:32.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>1,000</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:37.5pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Dividends receivable</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><u><font size=2>531</font></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><u><font size=2>10,671</font></u></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><u><font size=2>1,531</font></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><u><font size=2>10,671</font></u><u></u></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:1.5pt;margin-bottom:0pt'><B><font SIZE=2>TOTAL AND NET ASSETS AVAILABLE FOR BENEFITS</font></B></p></td>
    <td valign=top style='border-bottom:double black 2.25pt; padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>$ 19,115,205</font></p></td>
    <td valign=top style='border-bottom:double black 2.25pt; padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>$16,314,185</font></p></td>
  </tr>
</table>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>See accompanying notes to financial statements.</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=2>3</font></p>

        <hr align="center" size="4" width="100%" noshade>
        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>CAPITAL CITY BANK GROUP, INC. 401(k) PLAN</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=2>STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Year ended December 31, 2010</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<table width="100%" border="0" cellpadding=0 cellspacing=0 style='border-collapse:collapse'>
  <tr >
    <td width="92%" valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Additions to net assets attributed to:</font></b></p></td>
    <td width="8%" valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:18.75pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Investment income</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:37.5pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Net appreciation in fair value of investments (Note 3)</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>$ 1,221,485</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:37.5pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Dividends and interest income</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><u><font size=2>252,604</font></u></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:7.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>1,474,089</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:18.75pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Contributions</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:37.5pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Participant</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:7.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>1,728,903</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:37.5pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Employer</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:15.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>366,289</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:37.5pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Rollover</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:21.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><u><font size=2>35,320</font></u><u></u></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:7.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><u><font size=2>2,130,512</font></u></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:56.25pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Total additions</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:7.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>3,604,601</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Deductions from net assets attributed to:</font></b></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:18.75pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Benefits paid to participants</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:15.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>773,465</font><u></u></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:18.75pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Plan expenses</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:21.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><u><font size=2>30,116</font></u></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:56.25pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Total deductions</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:15.75pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><u><font size=2>803,581</font></u></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Net increase</font></b></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:7.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>2,801,020</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Net assets available for benefits</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:18.75pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Beginning of year</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><u><font size=2>16,314,185</font></u></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:18.75pt;text-align:justify;margin-top:1.5pt;margin-bottom:0pt'><font size=2>End of year</font></p></td>
    <td valign=top style='border-bottom:double black 2.25pt; padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>$ 19,115,205</font></p></td>
  </tr>
</table>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>See accompanying notes to financial statements.</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=2>4</font></p>

        <hr align="center" size="4" width="100%" noshade>
        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>CAPITAL CITY BANK GROUP, INC. 401(k) PLAN</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>NOTES TO FINANCIAL STATEMENTS</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;border-bottom:solid black 1px'><font size=2>December 31, 2010 and 2009</font><br>
  <br>
</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>&nbsp;</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><B><font SIZE=2>NOTE 1 - DESCRIPTION OF PLAN</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>The following description of the Capital City Bank Group, Inc. 401(k) Plan (the "Plan") provides general information only.  More complete information regarding the Plan&#146;s provisions may be found in the Plan document.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>General</font></u><font size=2>:  The Plan, established on October 1, 1997, effective retroactive to January 1, 1997, is a defined contribution retirement plan under the provisions of Section 401(a) of the Internal Revenue Code (the &#147;IRC&#148;), which includes a qualified deferred arrangement as described in Section 401(k) of the IRC. The Plan is intended to provide benefits to all eligible employees of Capital City Bank Group, Inc. (the &#147;Company&#148;). Employees of the Company become eligible to participate in the Plan at the time of employment. Employees may enter the Plan on the first day of the month coinciding with or next following the date on which the employee becomes eligible to participate in the Plan.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Plan Administration</font></u><font size=2>: The overall responsibility for administering the Plan rests with the Company. However, the Company has delegated administration of the Plan to the Retirement Committee (the &#147;Plan Administrator&#148;). The Plan&#146;s trustee, Capital City Trust Company (the &#147;Trustee&#148;), a subsidiary of the Company, is responsible for the management and control of the Plan&#146;s assets.  </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Participant Contributions</font></u><font size=2>: Each year, participants may elect to contribute up to 100% of pretax annual compensation, as defined in the Plan and subject to certain limitations under the IRC. Participants may choose to change their deferral percentage at any time.  The Plan also includes an automatic contribution arrangement that applies to new participants or re-hired participants as they enter the Plan.  The automatic deferral amount is 3 percent of eligible compensation.  Participants who do not wish to be automatically enrolled may elect not to defer or to defer another percentage.  The Plan also allows participants who reach the age of 50 during the taxable year to make catch-up contributions.  Catch-up contributions are 401 (k) elective deferral contributions in excess of any limit on such contributions under the Plan.</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Employer Contributions</font></u><font size=2>:  For 2010, the Company provided a 50% match on participant contributions of 6% or less. Only employees hired after January 1, 2002 and have completed 90 days of service are eligible for this match.  No additional discretionary employer contributions were made for 2010.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Participant Accounts</font></u><font size=2>:  Each participant&#146;s account is credited with the participant&#146;s contribution, the Company matching contributions, and allocations of Plan earnings based on the participant&#146;s investment elections, administrative expenses, and is charged with his or her withdrawals. Allocations are based on account balances, as defined in the Plan. The benefit to which a participant is entitled is the benefit that can be provided from the participant&#146;s vested account.  Each participant directs the investment of his or her account to any of the investment options available under the Plan.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Investment Options</font></u><font size=2>: Participants can direct their contributions into 25 investment options. Participants can change their investment elections and balances daily by way of internet, with their contributions being changed the next trading day.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Benefits Paid to Participants</font></u><font size=2>: Upon termination of service due to death, disability, retirement or other reason, a participant will receive a lump-sum amount equal to the value of the vested interest in his or her account. Participants may also receive a distribution while in service upon demonstration of financial hardship.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Retirement, Death and Disability</font></u><font size=2>:  A participant becomes fully vested in his or her account balance upon retirement, death or disability.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Continued)</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=2>5</font></p>

        <hr align="center" size="4" width="100%" noshade>
        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>CAPITAL CITY BANK GROUP, INC. 401(k) PLAN</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>NOTES TO FINANCIAL STATEMENTS</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;border-bottom:solid black 1px'><font size=2>December 31, 2010 and 2009</font><br>
</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>&nbsp;</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><B><font SIZE=2>NOTE 1 - DESCRIPTION OF PLAN</font></B><font size=2> (Continued)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Vesting</font></u><font size=2>:  Participants are immediately vested in their contributions plus actual earnings thereon. Vesting in the Company&#146;s matching portion of their accounts plus actual earnings thereon is based on years of continuous service. A participant is 100% vested in the Company&#146;s matching and discretionary contributions, and related earnings thereon, after three years of credited service (on a cliff basis). Credited service for vesting purposed requires 1,000 hours during the plan year.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Forfeitures</font></u><font size=2>: Forfeitures are used to reduce the employer contribution. Forfeitures were immaterial for 2010 and 2009.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><B><font SIZE=2>NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Basis of Accounting</font></u><font size=2>: The financial statements of the Plan are prepared under the accrual basis of accounting in accordance with U.S. generally accepted accounting principles.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Use of Estimates</font></u><font size=2>:  The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions related to the reported amounts of assets, liabilities, and changes therein and the disclosure of contingent assets and liabilities. Actual results could differ from those estimates.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Payment of Benefits:</font></u><font size=2>  Benefits are recorded when paid.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Risks and Uncertainties</font></u><font size=2>:  The Plan holds various investment securities, including Company common stock.  The fair value of Company stock held by the Plan was $1,131,518 and $1,018,735 at December 31, 2010 and 2009 respectively, representing 6% of net assets available for benefits.  Investment securities are exposed to various risks such as interest rate, market, liquidity and credit risks.  Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the fair values of investment securities will occur in the near term and that such changes could materially affect participants&#146; account balances and the amounts reported in the statement of net assets available for benefits.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Investment Valuation and Income Recognition</font></u><font size=2>:  The Plan&#146;s investments are reported at fair value.  Purchases and sales of securities are recorded on a trade-date basis.  Interest income is recorded on the accrual basis.  Dividends are recorded on the ex-dividend date.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Fair value is the price that would be received by the Plan for an asset or paid by the Plan to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date in the Plan&#146;s principal or most advantageous market for the asset or liability.  The effect of a change in valuation technique or its application on a fair value estimate is accounted for prospectively as a change in accounting estimate. When evaluating indications of fair value resulting from the use of multiple valuation techniques, the Plan is to select the point within the resulting range of reasonable</font><b><font size=2> </font></b><font size=2>estimates of fair value that is most representative of fair value under current market conditions.  Fair value measurements are determined by maximizing the use of observable inputs and minimizing the use of
unobservable inputs.  The hierarchy places the highest priority on unadjusted quoted market prices in active markets for identical assets or liabilities (level 1 measurements) and gives the lowest priority to unobservable inputs (level 3 measurements).  The three levels of inputs within the fair value hierarchy are defined as follows:</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Continued)</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=2>6</font></p>

        <hr align="center" size="4" width="100%" noshade>
        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>CAPITAL CITY BANK GROUP, INC. 401(k) PLAN</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>NOTES TO FINANCIAL STATEMENTS</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;border-bottom:solid black 1px'><font size=2>December 31, 2010 and 2009</font><br>
  <br>
</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>&nbsp;</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>
<B><font SIZE=2>NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES </font></B><font size=2>(Continued)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:justify;'><font size=2>Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the Plan has the ability to access as of the measurement date.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:justify;'><font size=2>Level 2: Significant other observable inputs other than level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:justify;'><font size=2>Level 3: Significant unobservable inputs that reflect the Plan&#146;s own assumptions about the assumptions that market participants would use in pricing an asset or liability.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>The following are descriptions of the valuation methods and assumptions used by the Plan to estimate the fair values of investments held directly by the Plan.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><i><font size=2>Mutual funds</font></i><font size=2>:  The fair values of mutual fund investments are determined by obtaining quoted prices on nationally recognized security exchanges (Level 1 inputs).</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><i><font size=2>Company common stock</font></i><font size=2>:  Investments in Company common stock are valued by obtaining quoted prices on a national recognized security exchanges (Level 1 inputs). </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values.  Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of</font><font color="#FF0000"><font size=2> </font></font><font size=2>different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Investments measured at fair value on a recurring basis are summarized below: </font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>&nbsp;</p>
<table width="100%" border="0" cellpadding=0 cellspacing=0 style='border-collapse:collapse'>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td  colspan="3" valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Fair Value Measurements</font><br>
            <u><font size=2>at December 31, 2010 Using</font></u></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Quoted
    Prices in</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Significant</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Active Markets</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Other</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Significant</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>for Identical</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Observable</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Unobservable</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Assets</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Inputs</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Inputs</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><font size=2>(Level 1)</font></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><font size=2>(Level 2)</font></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><font size=2>(Level 3)</font></u><u></u></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Mutual funds</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:11.25pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Money market</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>$5,607,574</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>$ -</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>$-</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:11.25pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Fixed income</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>2,088,438</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:2.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:11.25pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Balanced funds</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>274,112</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:2.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:11.25pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Large cap domestic equities</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>3,282,322</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:2.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:11.25pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Mid cap domestic equities</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>1,516,054</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:11.25pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Small cap domestic equities</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>720,853</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:11.25pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Real estate domestic equities</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>234,189</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:11.25pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Growth domestic equities</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>1,455,506</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:11.25pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Diversified domestic equities</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>65,330</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:11.25pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Indexed domestic equities</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>886,307</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:11.25pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>International equities</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><u><font size=2>1,849,157</font></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:2.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><u><font size=2>-</font></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><u><font size=2>-</font></u></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:11.25pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Total mutual funds</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>17,979,842</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:2.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Company common stock</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>1,131,518</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:2.25pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
  </tr>
</table>
<p style="margin-bottom: 0pt"><font size=2>There were no transfers between levels in 2010.</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Continued)</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=2>7</font></p>

        <hr align="center" size="4" width="100%" noshade>
        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>CAPITAL CITY BANK GROUP, INC. 401(k) PLAN</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>NOTES TO FINANCIAL STATEMENTS</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;border-bottom:solid black 1px'><font size=2>December 31, 2010 and 2009</font><br>
  <br>
</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>&nbsp;</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>
<B><font SIZE=2>NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES </font></B><font size=2>(Continued)</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>&nbsp;</p>
<table width="100%" border="0" cellpadding=0 cellspacing=0 style='border-collapse:collapse'>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td  colspan="3" valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Fair Value Measurements </font><br>
            <u><font size=2>at December 31, 2009 Using</font></u></p>
        <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p
style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Quoted Prices in</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Significant</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Active Markets</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Other</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Significant</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>for Identical</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Observable</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Unobservable</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Assets</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Inputs</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Inputs</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><font size=2>(Level 1)</font></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><font size=2>(Level 2)</font></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><font size=2>(Level 3)</font></u><u></u></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Mutual funds</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:6.75pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Money market</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>5,362,098</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>$        -</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:6.75pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Fixed income</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>3,681,973</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:4.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:6.75pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Balanced funds</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>163,417</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:4.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:6.75pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Domestic equities</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>4,679,708</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:4.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:6.75pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>International equities</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><u><font size=2>1,397,423</font></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:4.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:6.75pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Total mutual funds</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>15,284,619</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:4.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Company common stock</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>1,018,735</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:19.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:4.5pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>-</font></p></td>
  </tr>
</table>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><B><font SIZE=2>NOTE 3 - INVESTMENTS</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>The investments of the Plan are held in a trust fund administered by the Trustee.  Investments that represent 5% or more of the Plan's net assets available for benefits are separately identified as follows:</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>&nbsp;</p>
<table width="100%" border="0" cellpadding=0 cellspacing=0 style='border-collapse:collapse'>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td  colspan="2" valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><font size=2>December 31,</font></u><u></u></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><font size=2>2010</font></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p
style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><font size=2>2009</font></u></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Investments at fair value</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Vanguard Prime Obligation Fund</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>$  5,546,902</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>$5,314,573</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>(5,546,902 and 5,314,573 shares)</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Vanguard Index 500 Fund</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:9.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>2,612,478</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>2,120,921</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>(27,304 and 25,008 shares)</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>American Fund Europacific Fund</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:9.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>1,500,855</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>1,301,472</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>(36,332 and 33,999 shares)</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Capital City Bank Group, Inc. Common Stock <sup>(1)</sup></font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:9.0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>1,131,518</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>1,018,735</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>(89,803 and 73,608 shares)</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
</table>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>&nbsp;</p>
<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse; '>
    <tr >

        <td width="24" valign=top >
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>

        <td width="24" valign=top >
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2><sup>(1)</sup></font></p> </td>

        <td  valign=top >
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Party-in-interest</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>During the year ended December 31, 2010 the Plan&#146;s investments, including gains and losses on investments bought and sold as well as held during the year, appreciated (depreciated) in value as follows:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>
<table width="100%" border="0" cellpadding=0 cellspacing=0 style='border-collapse:collapse'>
  <tr >
    <td valign=top ><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Mutual Funds</font></p></td>
    <td valign=top ><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>$  1,313,769</font></p></td>
  </tr>
  <tr >
    <td valign=top ><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Company common stock</font></p></td>
    <td valign=top ><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><u><font size=2>(92,284)</font></u></p></td>
  </tr>
  <tr >
    <td valign=top ><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top ><p
style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top ><p style='margin-left:0pt;text-indent:12.0pt;text-align:justify;margin-top:1.5pt;margin-bottom:0pt'><font size=2>Net appreciation in fair value of investments</font></p></td>
    <td valign=top style='border-bottom:double black 2.25pt; '><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>$  1,221,485</font></p></td>
  </tr>
</table>
<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:justify;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Continued)</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=2>8</font></p>

        <hr align="center" size="4" width="100%" noshade>
        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>CAPITAL CITY BANK GROUP, INC. 401(k) PLAN</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>NOTES TO FINANCIAL STATEMENTS</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;border-bottom:solid black 1px'><font size=2>December 31, 2010 and 2009</font><br>
  <br>
</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>&nbsp;</p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><b><font size=2>NOTE 4 &#150; RIGHTS UPON PLAN TERMINATION</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of the Employee Retirement Income Security Act of 1974.  In the event of plan termination, participants would become 100% vested in their employer contributions and earnings thereon.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><B><font SIZE=2>NOTE 5 - TAX STATUS</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>The Internal Revenue Service issued an opinion letter dated March 31, 2008 indicating that the prototype adopted by the Plan, as then designed, was in compliance with applicable requirements of the Internal Revenue Code.  Although the Plan has been amended from the original prototype document, Plan management believes that the Plan is currently being operated in accordance with the Internal Revenue Code.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><b><font size=2>NOTE 6 &#150; PARTY IN INTEREST TRANSACTIONS</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Parties-in-interest are defined under Department of Labor regulations as any fiduciary of the Plan, any party rendering service to the plan, the employer, and certain others.  The Plan owns 89,803 and 73,608 shares of the Company's common stock at December 31, 2010 and 2009, respectively, which represents approximately .53% and .43% of the outstanding common stock of the Company.  Dividend income of $39,453 was recognized during 2010 from the Plan&#146;s investment in the Company&#146;s common stock.  This investment qualifies as a party-in-interest investment. The Trustee is a subsidiary of the Company. Certain administrative functions are performed by officers or employees of the Company. No such officer or employee receives compensation from the Plan.  Some administrative expenses of the Plan are absorbed by the Company.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>NOTE 7 &#150; PLAN AMENDMENTS</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>There were no Plan amendments for the 2010 plan year. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=2>9</font></p>

        <hr align="center" size="4" width="100%" noshade>
        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>&nbsp;</p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SUPPLEMENTAL SCHEDULE</font></B></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=2>&nbsp;</font></p>

        <hr align="center" size="4" width="100%" noshade>
        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>CAPITAL CITY BANK GROUP, INC. 401(k) PLAN</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>December 31, 2010</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Name of plan sponsor:  Capital City Bank Group, Inc.</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Employer identification number:  59-2273542</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Three-digit plan number:  003</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>
<table width="100%" border="0" cellpadding=0 cellspacing=0 style='border-collapse:collapse'>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>(c)</font></b></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p
style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=center style='text-align:center'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=center style='text-align:center'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=center style='text-align:center'><font size=2>Description of Investment</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=center style='text-align:center'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=center style='text-align:center'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>(b)</font></b></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Including Maturity Date,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Identity of Issuer,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Rate of Interest,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>(e)</font></b></p></td>
  </tr>
  <tr style='height:8.1pt'>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Borrower, Lessor,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Collateral, Par or</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>(d)</font></b></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt; height:8.1pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Current</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><b><font size=2>(a)</font></b></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><font size=2>or Similar Party</font></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Maturity Value</font></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>**</font><u><font size=2>Cost</font></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Value</font></u><u></u></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Vanguard</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Mid-Cap Index,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>13,516 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=2>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>$393,170</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Vanguard</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Total Bond Index,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>40,458 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=2>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>428,852</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>DWS Reef</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Real Estate Securities Fund,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>8,851 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=2>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>156,390</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>American Funds</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>High Income Fund,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>25,500 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=2>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>287,383</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Vanguard</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Developed Market Index Fund,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>12,026 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>120,983</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>DWS Dreman</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Small Cap Fund,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>5,165 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=2>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>193,108</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Blackrock</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Mid-Cap Value Fund,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>21,666 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=2>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>255,441</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>American Funds</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Small-Cap Fund,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>5,798 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=2>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>227,320</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Van Kampen Funds</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Equity Fund,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>31,911 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=2>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>274,112</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Goldman Sachs</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Structured U.S. Equity Fund,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>2,739 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=2>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>65,330</font></p></td>
  </tr>
</table>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Continued)</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=2>9</font></p>

        <hr align="center" size="4" width="100%" noshade>
        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>
<font size=2>SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>December 31, 2010</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Name of plan sponsor:  Capital City Bank Group, Inc.</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Employer identification number:  59-2273542</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Three-digit plan number:  003</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>
<table width="100%" border="0" cellpadding=0 cellspacing=0 style='border-collapse:collapse'>
  <tr style='height:4.95pt'>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt; height:4.95pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt; height:4.95pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt; height:4.95pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>(c)</font></b></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt; height:4.95pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top
style='padding:0in 5.4pt 0in 5.4pt; height:4.95pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=center style='text-align:center'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=center style='text-align:center'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=center style='text-align:center'><font size=2>Description of Investment</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=center style='text-align:center'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=center style='text-align:center'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>(b)</font></b></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Including Maturity Date,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Identity of Issuer,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Rate of Interest,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>(e)</font></b></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Borrower, Lessor,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Collateral, Par or</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>(d)</font></b></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Current</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><b><font size=2>(a)</font></b></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><font size=2>or Similar Party</font></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Maturity Value</font></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>**</font><u><font size=2>Cost</font></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Value</font></u><u></u></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=center style='text-align:center'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=center style='text-align:center'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=center style='text-align:center'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=center style='text-align:center'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=center style='text-align:center'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>T Rowe Price</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Real Estate Retail Shares,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>4,446 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>$77,798</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Vanguard</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Inflation Protected Reinvestment,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>1,101 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>14,311</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Vanguard</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Prime Obligation Fund,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>5,546,902 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>5,546,902</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Vanguard</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Index 500 Fund,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>27,304 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>2,612,478</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>American Funds</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Europacific,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>36,332 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>1,500,855</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>American Funds</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Fundamental Growth,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>16,572 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>608,355</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>American Funds</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Growth Fund of America,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>27,876 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>847,150</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Royce</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Premier Investment,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>25,756 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>527,745</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Select</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Selected American Shares,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>16,176 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>669,845</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Vanguard</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Total Stock Market,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>28,083 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>886,307</font></p></td>
  </tr>
</table>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Continued)</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=2>10</font></p>

        <hr align="center" size="4" width="100%" noshade>
        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>CAPITAL CITY BANK GROUP, INC. 401(k) PLAN</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>December 31, 2010</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Name of plan sponsor:  Capital City Bank Group, Inc.</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Employer identification number:  59-2273542</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><u><font size=2>Three-digit plan number:  003</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>
<table width="100%" border="0" cellpadding=0 cellspacing=0 style='border-collapse:collapse'>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>(c)</font></b></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p
style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=center style='text-align:center'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=center style='text-align:center'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=center style='text-align:center'><font size=2>Description of Investment</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=center style='text-align:center'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=center style='text-align:center'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>(b)</font></b></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Including Maturity Date,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Identity of Issuer,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Rate of Interest,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>(e)</font></b></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Borrower, Lessor,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Collateral, Par or</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>(d)</font></b></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>Current</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><b><font size=2>(a)</font></b></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><font size=2>or Similar Party</font></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Maturity Value</font></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>**</font><u><font size=2>Cost</font></u></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Value</font></u><u></u></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Dreyfus Fund</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Bond Market Index,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>39,671 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>$418,922</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Van Kampen</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Mid-Cap Growth,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>28,742 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>roo</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Federated</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Total Return Bond,</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>84,212 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>938,385</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Goldman Sachs</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Financial Square Prime </font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:9.0pt; '><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>Obligations, 60,672 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=2>60,673</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=2>*</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Capital City Bank</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=2>Capital City Bank Group, Inc. </font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
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  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>Group, Inc. </font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left;text-indent:4.5pt; '><font size=2>common stock, 89,803 shares</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><u><font size=2>1,131,518</font></u></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=left style='text-align:left'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  ><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p  align=right style='text-align:right'><font size=1>&nbsp;</font></p></td>
  </tr>
  <tr >
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:1.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p></td>
    <td valign=top style='border-bottom:double black 2.25pt; padding:0in 5.4pt 0in 5.4pt'><p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=2>$19,111,360</font></p></td>
  </tr>
</table>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:justify;'><font size=2>*  Represents party-in-interest</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:justify;'><font size=2>** Investment is participant directed; therefore historical cost is not required.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=2>11</font></p>

        <hr align="center" size="4" width="100%" noshade>
        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:center;'><b><font size=2>CAPITAL CITY BANK GROUP, INC. 401(k) PLAN</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:center;'><B><font SIZE=2>EXHIBIT INDEX</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:justify;'><font size=2>&nbsp;</font></p>


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<table border="0" cellspacing=0 cellpadding=0 width="237" style='margin-left:0pt;border-collapse:collapse; '>
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        <td width="156" nowrap valign=top >
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Exhibit No.</font></u></p> </td>

        <td width="81" nowrap valign=top >
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Document</font></u></p> </td> </tr></table>
</div>



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        <td width="156" nowrap valign=top >
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>23.1</font></p> </td>

        <td width="205" nowrap valign=top >
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>Consent of Crowe Horwath LLP</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'>&nbsp;</p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=2>12</font></p>

        <hr align="center" size="4" width="100%" noshade>
        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.25in;text-align:center;'><B><font SIZE=2>SIGNATURES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><i><font size=2>The Plan.</font></i><font size=2> Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><b><font size=2>CAPITAL CITY BANK GROUP, INC. PROFIT SHARING 401(K) PLAN</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>By:&nbsp;&nbsp;Capital City Trust Company, Trustee</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


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        <td width="36" nowrap valign=top >
<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>

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<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>By: </font><u><font size=2>/s/ Randolph M. Pople</font></u></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.62in;text-align:justify;'><font size=2>Randolph M. Pople, President</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Dated: June 29, 2011</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=2>13</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=2>Exhibit 23.1 &#150; Consent </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>We consent to the incorporation by reference in Registration Statement No. 333-36693 on Form  S-8 of Capital City Bank Group, Inc. of our report dated June 28, 2011 appearing in this Annual Report on Form 11-K of Capital City Bank Group, Inc. 401(k) Plan for the year ended December 31, 2010.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:3in; text-indent:0.5in;text-align:justify;'><font size=2>s/s Crowe Horwath LLP</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:3in; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:3in; text-indent:0.5in;text-align:justify;'><font size=2>Crowe Horwath LLP</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:3in; text-indent:0.5in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>South Bend, Indiana</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>June 28, 2011</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

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