-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Ae0k/densvvZa6IamwT1106KhEM/mcayKijQjmlVai7H6cPXJ5tmTMyRiM2ntxId
 khjznFmEk3zOi2J+aaXx+Q==

<SEC-DOCUMENT>0000928816-07-000599.txt : 20070427
<SEC-HEADER>0000928816-07-000599.hdr.sgml : 20070427
<ACCEPTANCE-DATETIME>20070427125740
ACCESSION NUMBER:		0000928816-07-000599
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		11
CONFORMED PERIOD OF REPORT:	20070228
FILED AS OF DATE:		20070427
DATE AS OF CHANGE:		20070427
EFFECTIVENESS DATE:		20070427

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUTNAM HIGH INCOME SECURITIES FUND
		CENTRAL INDEX KEY:			0000810943
		IRS NUMBER:				046562068
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		N-CSRS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05133
		FILM NUMBER:		07794506

	BUSINESS ADDRESS:	
		STREET 1:		ONE POST OFFICE SQ
		STREET 2:		MAILSTOP A 14
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		8002251581

	MAIL ADDRESS:	
		STREET 1:		PUTNAM LLC
		STREET 2:		ONE POST OFFICE SQ
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PUTNAM HIGH INCOME BOND FUND
		DATE OF NAME CHANGE:	20030408

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PUTNAM HIGH BOND FUND
		DATE OF NAME CHANGE:	20021107

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PUTNAM HIGH INCOME CONVERTIBLE & BOND FUND
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSRS
<SEQUENCE>1
<FILENAME>a_highincsec.htm
<DESCRIPTION>PUTNAM HIGH INCOME SECURITIES FUND
<TEXT>
<!DOCTYPE HTML PUBLIC "">


<HTML>
<HEAD>
   <TITLE>a_highincsec.htm</TITLE>
   <META name="HandheldFriendly" content="true">
</HEAD>

<BODY bgcolor="#ffffff">































<!--$$/page=-->
<A name="page_1"></A>
<P align=center><FONT face=sans-serif size=2>UNITED STATES</FONT><BR>
<FONT face=sans-serif size=2>SECURITIES AND EXCHANGE COMMISSION </FONT><BR>
<FONT face=sans-serif size=2>Washington, D.C. 20549 </FONT></P>
<P align=center><B><FONT face=sans-serif size=2>FORM N-CSR </FONT></B></P>
<P align=center><B><FONT face=sans-serif size=2>CERTIFIED SHAREHOLDER REPORT OF REGISTERED </FONT></B><BR>
<B><FONT face=sans-serif size=2>MANAGEMENT INVESTMENT COMPANIES</FONT></B><FONT face=sans-serif size=2> </FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="99%" colSpan=3><FONT face=sans-serif size=2>Investment Company Act file number: (811- 05133)</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=3>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="51%"><FONT face=sans-serif size=2>Exact name of registrant as specified in charter:</FONT>&nbsp; </TD>
     <TD noWrap align=left width="48%" colSpan=2><FONT face=sans-serif size=2>Putnam High Income Securities Fund</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=3>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="99%" colSpan=3><FONT face=sans-serif size=2>Address of principal executive offices: One Post Office Square, Boston, Massachusetts 02109</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=3>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="51%"><FONT face=sans-serif size=2>Name and address of agent for service:</FONT>&nbsp; </TD>
     <TD noWrap align=left width="48%" colSpan=2><FONT face=sans-serif size=2>Beth S. Mazor, Vice President</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="51%">&nbsp; </TD>
     <TD noWrap align=left width="48%" colSpan=2><FONT face=sans-serif size=2>One Post Office Square</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="51%">&nbsp; </TD>
     <TD noWrap align=left width="48%" colSpan=2><FONT face=sans-serif size=2>Boston, Massachusetts 02109</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=3>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="51%"><FONT face=sans-serif size=2>Copy to:</FONT>&nbsp; </TD>
     <TD noWrap align=left width="48%" colSpan=2><FONT face=sans-serif size=2>John W. Gerstmayr, Esq.</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="51%">&nbsp; </TD>
     <TD noWrap align=left width="48%" colSpan=2><FONT face=sans-serif size=2>Ropes &amp; Gray LLP</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="51%">&nbsp; </TD>
     <TD noWrap align=left width="48%" colSpan=2><FONT face=sans-serif size=2>One International Place</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="51%">&nbsp; </TD>
     <TD noWrap align=left width="48%" colSpan=2><FONT face=sans-serif size=2>Boston, Massachusetts 02110</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=3>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%" colSpan=2><FONT face=sans-serif size=2>Registrant&#146;s telephone number, including area code:</FONT>&nbsp; </TD>
     <TD noWrap align=left width="42%"><FONT face=sans-serif size=2>(617) 292-1000</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><FONT face=sans-serif size=2>Date of fiscal year end: August 31, 2007 </FONT><BR>
<BR>
<FONT face=sans-serif size=2>Date of reporting period: September 1, 2006&#151; February 28, 2007 </FONT></P>
<P align=left><U><FONT face=sans-serif size=2>Item 1. Report to Stockholders:</FONT></U><FONT face=sans-serif size=2> </FONT></P>
<P align=left><FONT face=sans-serif size=2>The following is a copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Investment Company Act of 1940: </FONT></P>
<HR align=center width="100%" noShade SIZE=2>












































<!--$$/page=-->
<A name="page_1"></A>

<IMG src="highincomex1x1.jpg" border=0>
<BR>

<HR noshade align="center"width="100%"size=2>


<!--$$/page=-->
<A name="page_2"></A>
<P align=left><FONT face="PBDisplay-Book,Times New Roman,Times,serif" size=7>What makes Putnam different?</FONT></P>
<IMG src="highincomex2x1.jpg" border=0>
<BR>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>In 1830, Massachusetts Supreme Judicial Court Justice Samuel Putnam established The Prudent Man Rule, a legal foundation for responsible money management.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>THE PRUDENT MAN RULE</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>All that can be required of a trustee to invest is that he shall conduct himself faithfully and exercise a sound discretion. He is to observe how men of prudence, discretion, and intelligence manage their own affairs, not in regard to speculation, but in regard to the permanent disposition of their funds, considering the probable income, as well as the probable safety of the capital to be invested.</FONT></P>
<IMG src="highincomex2x2.jpg" border=0>
<BR>
<P align=left><FONT face="PBDisplay-Book,Times New Roman,Times,serif">A time-honored tradition in money management</FONT></P>
<P align=left><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>Since 1937, our values have been rooted in a profound sense of responsibility for the money entrusted to us.</FONT></P>
<P align=left><FONT face="PBDisplay-Book,Times New Roman,Times,serif">A prudent approach to investing</FONT></P>
<P align=left><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>We use a research-driven team approach to seek consistent, dependable, superior investment results over time, although there is no guarantee a fund will meet its objectives.</FONT></P>
<P align=left><FONT face="PBDisplay-Book,Times New Roman,Times,serif">Funds for every investment goal</FONT></P>
<P align=left><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>We offer a broad range of mutual funds and other financial products so investors and their financial representatives can build diversified portfolios.</FONT></P>
<P align=left><FONT face="PBDisplay-Book,Times New Roman,Times,serif">A commitment to doing what&#146;s right for investors</FONT></P>
<P align=left><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>We have stringent investor protections and provide a wealth of information about the Putnam funds.</FONT></P>
<P align=left><FONT face="PBDisplay-Book,Times New Roman,Times,serif">Industry-leading service</FONT></P>
<P align=left><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>We help investors, along with their financial representatives, make informed investment decisions with confidence.</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_3"></A>
<P align=left><FONT face="PBDisplay-Book,Times New Roman,Times,serif" size=7>Putnam</FONT><BR>
<FONT face="PBDisplay-Book,Times New Roman,Times,serif" size=7>High Income</FONT><BR>
<FONT face="PBDisplay-Book,Times New Roman,Times,serif" size=7>Securities Fund</FONT></P>
<P align=left><FONT face="PBDisplay-Book,Times New Roman,Times,serif" size=7>2</FONT><FONT face="PBDisplay-Book,Times New Roman,Times,serif" size=7>| </FONT><FONT face="PBDisplay-Book,Times New Roman,Times,serif" size=7>28</FONT><FONT face="PBDisplay-Book,Times New Roman,Times,serif" size=7>| </FONT><FONT face="PBDisplay-Book,Times New Roman,Times,serif" size=7>07 </FONT><BR>
<I><FONT face="PBDisplay-BookItalic,Times New Roman,Times,serif" size=5>Semiannual Report</FONT></I></P>
<TABLE style="WIDTH: 767px; HEIGHT: 223px" cellSpacing=1 cellPadding=0 width=767 border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="77%"><FONT face="PBDisplay-Book,Times New Roman,Times,serif">Message from the Trustees</FONT>&nbsp; </TD>
     <TD noWrap align=right width="22%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>2</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="77%"><FONT face="PBDisplay-Book,Times New Roman,Times,serif">About the fund</FONT>&nbsp; </TD>
     <TD noWrap align=right width="22%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>4</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="77%"><FONT face="PBDisplay-Book,Times New Roman,Times,serif">Report from the fund managers</FONT>&nbsp; </TD>
     <TD noWrap align=right width="22%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>7</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="77%"><FONT face="PBDisplay-Book,Times New Roman,Times,serif">Performance</FONT>&nbsp; </TD>
     <TD noWrap align=right width="22%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>13</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="77%"><FONT face="PBDisplay-Book,Times New Roman,Times,serif">Your fund&#146;s management</FONT>&nbsp; </TD>
     <TD noWrap align=right width="22%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>15</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="77%"><FONT face="PBDisplay-Book,Times New Roman,Times,serif">Terms and definitions</FONT>&nbsp; </TD>
     <TD noWrap align=right width="22%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>18</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="77%"><FONT face="PBDisplay-Book,Times New Roman,Times,serif">Trustee approval of management contract</FONT>&nbsp; </TD>
     <TD noWrap align=right width="22%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>19</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="77%"><FONT face="PBDisplay-Book,Times New Roman,Times,serif">Other information for shareholders</FONT>&nbsp; </TD>
     <TD noWrap align=right width="22%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>25</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="77%"><FONT face="PBDisplay-Book,Times New Roman,Times,serif">Financial statements</FONT>&nbsp; </TD>
     <TD noWrap align=right width="22%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>26</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="77%"><FONT face="PBDisplay-Book,Times New Roman,Times,serif">Shareholder meeting results</FONT>&nbsp; </TD>
     <TD noWrap align=right width="22%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>54</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><I><FONT face=PGTextLH-LightItalic,Arial,Helvetica,sans-serif size=1>Cover photograph: &#169; Richard H. Johnson</FONT></I></P>
<HR align=center width="100%" noShade SIZE=2>


<!--$$/page=-->
<A name="page_4"></A>

<P align="left">
<I><FONT size=5 face="PBDisplay-BookItalic,Times New Roman,Times,serif">Message from the Trustees</FONT></I></P>
<P align="left">
<FONT size=7 face="PBDisplay-Book,Times New Roman,Times,serif">Dear Fellow Shareholder</FONT></P>
<P align="left">
<FONT face="PBText-Book,Times New Roman,Times,serif">From our present vantage point, it has become apparent that certain sectors of the U.S. economy have slowed somewhat, although the global economy continues to demonstrate healthy growth. In recent
weeks, financial markets have reflected increased uncertainty about the effects of the housing market decline and tighter credit standards by mortgage lenders on the U.S. economy. However, we believe that the U.S. economy is flexible enough to adapt
to these challenges, just as it has adapted to other challenges that have arisen in the course of the recent economic expansion.</FONT></P>
<P align="left">
<FONT face="PBText-Book,Times New Roman,Times,serif">As you may have heard, on February 1, 2007, Marsh &amp; McLennan Companies, Inc. announced that it had signed a definitive agreement to sell its ownership interest in Putnam Investments Trust, the
parent company of Putnam Management and its affiliates, to Great-West Lifeco Inc. Great-West Lifeco Inc. is a financial services holding company with operations in Canada, the United States, and Europe and is a member of the Power Financial
Corporation group of companies. This transaction is subject to regulatory approvals and other conditions, including the approval of new management contracts by shareholders of a substantial number of Putnam funds at shareholder meetings scheduled
for May 15, 2007. Proxy solicitation materials related to these meetings, which provide detailed information regarding the proposed transaction, were recently mailed. We currently expect the transaction to be completed by the middle of
2007.</FONT></P>
<P align="left">
<FONT face="PBText-Book,Times New Roman,Times,serif">Putnam&#146;s team of investment and business professionals will continue to be led by Putnam President and Chief Executive Officer Ed Haldeman. Your Trustees have been actively involved through
every step of the discussions, and we will continue in our role of overseeing the Putnam funds on your behalf.</FONT></P>
<P align="left">
<FONT size=2 face="PGText-Roman,Arial,Helvetica,sans-serif">2</FONT></P>

<HR noshade align="center"width="100%"size=2>



<!--$$/page=-->
<A name="page_5"></A>

<P align="left">
<FONT face="PBText-Book,Times New Roman,Times,serif">We would like to take this opportunity to announce that a new independent Trustee, Kenneth R. Leibler, has joined your fund&#146;s Board of Trustees. Mr. Leibler has had a distinguished career as
a leader in the investment management industry. He is a founding partner of and advisor to the Boston Options Exchange; a Trustee of Beth Israel Deaconess Hospital in Boston; a lead director of Ruder Finn Group, a global communications and
advertising firm; and a director of Northeast Utilities. </FONT></P>
<P align="left">
<FONT face="PBText-Book,Times New Roman,Times,serif">In the following pages, members of your fund&#146;s management team discuss the fund&#146;s performance and strategies for the fiscal period ended February 28, 2007, and provide their outlook for
the months ahead. As always, we thank you for your support of the Putnam funds.</FONT></P>
<IMG src="highincomex5x1.jpg" border=0>
<BR>

<HR noshade align="center"width="100%"size=2>


<!--$$/page=-->
<A name="page_6"></A>
<P align=left><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=5>Putnam High Income Securities Fund: opportunities </FONT></B><BR>
<B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=5>from high-yield bonds and convertibles </FONT></B></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>The average investor may think of bonds as government-sponsored securities that offer relatively low risk and less volatility than the stock market. However, high-yield corporate bonds and convertible securities, the types of investments held by Putnam High Income Securities Fund, are different. Both are issued by companies rather than the government. Moreover, high-yield corporates and convertibles can offer greater returns than other bonds &#151; but carry a greater potential for risk, such as the risk of corporate default or periodic illiquidity. </FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>High-yield bonds are deemed to be less than investment-grade status (rated below Baa), which means their issuing companies are considered more likely to default on their loans than more creditworthy counterparts. High-yield bond prices tend to follow </FONT><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>individual companies&#146; fundamentals as well as interest-rate levels. While lower-rated corporate bonds may carry higher risk, they provide potentially higher levels of yield to compensate investors for that risk. That is why extensive research based on credit analysis is vital to identifying better high-yield issuers with a lower risk of default. </FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>What sets convertible securities apart is a unique built-in option that allows the investor to exchange &#151; or convert &#151; the bond for a fixed number of shares of stock of the issuer. Convertible securities pay interest like most bonds, and the amount does not change as the underlying stock&#146;s price increases or decreases. Issuers range from large, well-known S&amp;P 500 corporations to small, rapidly growing companies to those in cyclically depressed industries such as airlines, autos, and utilities. </FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Building a portfolio of high-yield bonds and convertible securities with the appropriate balance of risk and return potential requires intensive research and analysis. In the case of Putnam High Income Securities Fund, Putnam&#146;s global equity and credit research analysts conduct rigorous research to determine the true worth of the issuing company&#146;s business. The fund&#146;s portfolio team then constructs a portfolio that it believes offers the best return potential without undue risk. </FONT></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=2>Lower-rated bonds may offer higher yields in return for more risk. Mutual funds that invest in bonds are subject to certain risks, including interest-rate risk, credit risk, and inflation risk. As interest rates rise, the prices of bonds fall. Long-term bonds are more exposed to interest-rate risk than short-term bonds. Unlike bonds, bond funds have ongoing fees and expenses. The fund&#146;s shares trade on a stock exchange at market prices, which may be lower than the fund&#146;s net asset value.</FONT></I></P>
<P align=left><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=4>The &#147;busted&#148; convertible</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>One kind of security in which your fund may invest is the &#147;busted&#148; convertible. &#147;Busted&#148; refers to a security whose underlying stock price has fallen significantly below the conversion price. It becomes much less sensitive to the volatility of the underlying stock and is more bond-like, responding to interest-rate changes. A busted convertible may pay a higher yield than other convertibles, but may also carry a higher level of risk. (Some companies in this situation may eventually default on their bonds.)</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>The objective of buying a busted convertible is to take advantage of a company&#146;s eventual turnaround despite present challenges. For example, a company undergoing management turmoil may draw negative investor reactions, causing its stock price to tumble. However, if intensive research determines that the management crisis is likely to be resolved, the fund manager could buy the security at a steep discount. The goal is to sell it at a higher premium once the situation is corrected and the price of the security recovers. </FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=4>Putnam High Income Securities Fund has held convertible </FONT><BR>
<FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=4>securities from a variety of sectors and industries.</FONT></P>
<IMG src="highincomex6x1.jpg" border=0>
<BR>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_7"></A>
<P align=left><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=4>Putnam High Income Securities Fund </FONT></B><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>seeks high current income and, </FONT><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>as a secondary objective, capital appreciation by investing in a portfolio of high-yielding convertible and nonconvertible securities.</FONT></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>Highlights</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>&#149; </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>For the six months ended February 28, 2007, Putnam High Income Securities Fund had a total return of 9.76% at net asset value (NAV) and 13.16% at market price.</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>&#149; </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The fund&#146;s primary benchmark, the Merrill Lynch All-Convertibles Speculative Quality Index, returned 10.82% . The fund&#146;s secondary benchmark, the JPMorgan Developed High Yield Index, returned 8.47% .</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>&#149; </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The average return for the fund&#146;s Lipper category, Convertible Securities Funds (closed-end), was 8.42% .</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>&#149; </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Additional fund performance, comparative performance, and Lipper data can be found in the performance section beginning on page 13.</FONT></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>Performance</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>It is important to note that a fund&#146;s performance at market price usually differs from its results at NAV. Although market price performance generally reflects investment results, it may also be influenced by several other factors, including changes in investor perceptions of the fund or its investment manager, market conditions, fluctuations in supply and demand for the fund&#146;s shares, and changes in fund distributions.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Putnam High Income Securities Fund (NYSE ticker: PCF), total return for periods ended 2/28/07<BR>
</FONT><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Since the fund&#146;s inception (7/9/87), average annual return is 10.37% at NAV and 9.53% at market price.</FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%">&nbsp; </TD>
     <TD noWrap align=center width="24%" colSpan=2><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Average annual return</FONT>&nbsp; </TD>
     <TD noWrap align=center width="24%" colSpan=2><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Cumulative return</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%">&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>NAV</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Market price</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>NAV</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Market price</FONT>&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="97%" background="" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>10 years</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>8.76%</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>7.29%</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>131.68%</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>102.18%</FONT>&nbsp; </TD></TR>
<TR>
     <TD align=left width="97%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>5 years</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>14.03</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>11.15</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>92.81</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>69.63</FONT>&nbsp; </TD></TR>
<TR>
     <TD align=left width="97%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>3 years</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>10.48</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>10.27</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>34.84</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>34.08</FONT>&nbsp; </TD></TR>
<TR>
     <TD align=left width="97%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>1 year</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>14.75</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>17.24</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>14.75</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>17.24</FONT>&nbsp; </TD></TR>
<TR>
     <TD align=left width="97%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>6 months</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>9.76</FONT>&nbsp; </TD>
     <TD noWrap align=center width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>13.16</FONT>&nbsp; </TD></TR>
<TR>
     <TD align=left width="97%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR></TABLE><BR>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=2>Data is historical. Past performance does not guarantee future results. More recent returns may be less or more than those shown. Investment return, net asset value, and market price will fluctuate, and you may have a gain or a loss when you sell your shares. Performance assumes reinvestment of distributions and does not account for taxes.</FONT></I></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>6</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_8"></A>
<P align=left><I><FONT face="PBDisplay-BookItalic,Times New Roman,Times,serif" size=5>Report from the fund managers</FONT></I><BR>
<BR>
<FONT face="PBDisplay-Book,Times New Roman,Times,serif" size=7>The period in review</FONT></P>
<P align=left><FONT face="PBText-Book,Times New Roman,Times,serif">Your fund delivered strong returns during the six months ended February 28, 2007. An advancing equity market over most of the period provided a favorable backdrop for both high-yield convertibles and bonds, since these securities tend to be influenced more by fundamentals supportive of common stocks and less by interest-rate trends. Solid overall security selection and a continuing emphasis on prudent risk management enabled your fund to deliver stronger results than both its secondary, high-yield bond benchmark and the average for its Lipper peer group. However, due to the strong performance of certain types of convertible securities that are represented in the fund&#146;s primary benchmark but not generally included in the fund&#146;s portfolio, the fund&#146;s results at NAV lagged those of the primary benchmark.</FONT></P>
<P align=left><FONT face="PBDisplay-Book,Times New Roman,Times,serif" size=5>Market overview</FONT></P>
<P align=left><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>Both high-yield convertibles and high-yield bonds rallied during the semiannual period, reflecting the positive influences of continuing economic growth, a stream of positive earnings reports, historically low default rates, and signs that inflation may be in check. Higher-risk assets in general benefited from the Federal Reserve&#146;s (the Fed&#146;s) decision in August 2006 to hold the federal funds rate &#151; a key benchmark for overnight loans between banks &#151; steady at 5.25% .</FONT></P>
<P align=left><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>Prior to the Fed&#146;s policy change, equity and high-yield securities markets had suffered from rising interest rates and </FONT><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>concern about the potential for income-eroding inflation that these increases signaled. Once investors concluded that the hoped-for &#147;soft landing&#148; the Fed was trying to engineer appeared likely, market sentiment turned positive and equity and high-yield markets rallied. (A soft landing occurs when economic growth slows to less than inflationary levels but is still strong enough to sustain job creation and corporate profits.) This rally lasted until the final days of the period when an equity market sell-off in China sparked a chain reaction across all higher-risk asset classes, including high-yield bonds.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>7</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_9"></A>
<P align=left><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>Despite this downturn, high-yield convertibles and bonds ended the period with healthy returns.</FONT></P>
<P align=left><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>The uptrend in the stock market created a supportive environment in the convertibles market for much of the period. This environment was especially favorable for speculative convertibles that are associated with the volatile stocks of relatively weak companies. These convertibles fall outside the realm of the fund&#146;s normal investment universe, although they do make up a substantial portion of its primary benchmark, the Merrill Lynch All-Convertibles Speculative Quality Index, and their strength during the period accounts for the fund&#146;s underperformance of the index.</FONT></P>
<P align=left><FONT face="PBDisplay-Book,Times New Roman,Times,serif" size=5>Strategy overview</FONT></P>
<P align=left><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>Your fund invests mainly in a combination of convertible securities and high-yield corporate bonds, relying on our in-depth analysis of individual securities to help us identify what we consider to be the most attractive opportunities. In the convertibles market, we prefer to invest in securities with relatively short maturities. If problems develop with a company&#146;s capital structure &#151; as when a firm takes on too much debt when its business is slowing &#151; then debt with shorter maturities, including convertibles, will often be retired first as the company restructures its balance sheet. Therefore, keeping the focus on shorter-maturity convertibles may provide the fund with an added layer of security.</FONT></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>Market sector performance</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>These indexes provide an overview of performance in different market sectors for the six months ended 2/28/07.</FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="91%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Bonds</FONT>&nbsp; </TD>
     <TD noWrap align=left width="8%">&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="99%" background="" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="91%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Merrill Lynch All-Convertibles Speculative Quality Index (high-yield U.S. convertible securities)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="8%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>10.82%</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="91%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>JPMorgan Developed High Yield Index (high-yield corporate bonds)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="8%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>8.47%</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="91%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Lehman Aggregate Bond Index (broad bond market)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="8%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>3.66%</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="91%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Lehman Global Aggregate Bond Index (international bonds)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="8%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>3.12%</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="91%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Equities</FONT>&nbsp; </TD>
     <TD noWrap align=left width="8%">&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="99%" background="" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="91%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>S&amp;P 500 Index (broad stock market)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="8%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>8.93%</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="91%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Russell 2000 Index (small-company stocks)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="8%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>10.76%</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="91%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>MSCI EAFE Index (international stocks)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="8%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>12.17%</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>8</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_10"></A>
<P align=left><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>On the high-yield bond side of the portfolio, we continued to favor the middle-quality tiers of the market while trimming exposure to higher-risk securities as opportunities arose. While we expect this strategy to prove rewarding over the long term, it detracted from results during the period, as lower-rated bonds outperformed.</FONT></P>
<P align=left><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>Against the backdrop of positive fundamental and supply-and-demand factors, high-yield bond spreads &#151; the yield advantage offered by high-yield bonds over comparable Treasuries &#151; remained at historically low levels, meaning investors were not being compensated for taking on the additional risk carried by </FONT><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>lower-quality bonds. For this reason, and in light of the potential for a slowdown in economic growth, we endeavored to reduce the overall risk profile of the fund&#146;s high-yield holdings.</FONT></P>
<P align=left><FONT face="PBDisplay-Book,Times New Roman,Times,serif" size=5>Your fund&#146;s holdings</FONT></P>
<P align=left><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>Among the fund&#146;s convertible holdings, the top contributor to results during the period was a sizable out-of-benchmark position in </FONT><B><FONT face="PBText-Roman,Times New &#13;&#10;Roman,Times,serif" size=2>Pinnacle Airlines</FONT></B><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>, a regional carrier that provides service primarily for Northwest Airlines. In December, Pinnacle renewed its contract with Northwest and negotiated terms that were better than many observers were expecting. The new contract effectively</FONT></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>Portfolio composition comparison*</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>This chart shows how the fund&#146;s weightings have changed over the last six months. Weightings are shown as a percentage of portfolio value. Holdings will vary over time.</FONT></P>
<IMG src="highincomex10x1.jpg" border=0>
<BR>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>* Excludes short-term investments held as collateral for loaned securities. </FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>&#134; Amount represents less than 0.1% .</FONT></I></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>9</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_11"></A>
<P align=left><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>guaranteed that Pinnacle would continue to play a major role as a feeder airline for Northwest. As a result, the price of Pinnacle&#146;s stock appreciated dramatically toward the end of 2006, driving up the price of the firm&#146;s convertibles accordingly. Because the convertible had a high yield when initially purchased by the fund, the total return on the fund&#146;s position &#151; yield plus price appreciation &#151; was outstanding. In many respects, the fund&#146;s investment in Pinnacle provides an ideal example of what is possible when an equity-sensitive, high-yield convertible reflects developments that are highly favorable for its issuer&#146;s business prospects. Given the strong advance in the convertible&#146;s price, we </FONT><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>took profits and sold the position prior to the end of the period.</FONT></P>
<P align=left><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>Other notable contributors to performance during the period were real estate investment trust </FONT><B><FONT face="PBText-Roman,Times New Roman,Times,serif" size=2>Simon Property Group</FONT></B><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>, electric utility </FONT><B><FONT face="PBText-Roman,Times New Roman,Times,serif" size=2>Entergy Corporation</FONT></B><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>, and property and casualty insurer </FONT><B><FONT face="PBText-Roman,Times New &#13;&#10;Roman,Times,serif" size=2>Alleghany Corporation</FONT></B><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>. Simon Property benefited from a favorable operating environment; many of its retail tenants posted strong sales results, which translated into higher minimum rents for the mall developer and operator. Entergy, meanwhile, enjoyed improved earnings thanks to higher nuclear and fossil-fuel wholesale pric
es, and fewer plant outages. Lastly, Alleghany was helped by better-than-expected earnings</FONT></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>Top holdings</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>This table shows the fund&#146;s top holdings, and the percentage of the fund&#146;s net assets that each comprised, as of 2/28/07. The fund&#146;s holdings will change over time.</FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="39%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Holding (percent of fund&#146;s net assets)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Security information</FONT>&nbsp; </TD>
     <TD noWrap align=left width="25%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Sector</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="39%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Convertible securities</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%">&nbsp; </TD>
     <TD noWrap align=left width="25%">&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="98%" background="" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="39%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Northrop Grumman Corp. </FONT><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(2.3%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ser. B, $7.00 cum. cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=left width="25%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Capital goods</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="39%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>General Motors Corp. </FONT><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(1.7%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ser. A, $1.125 cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=left width="25%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Consumer cyclicals</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="39%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Schering-Plough Corp. </FONT><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(1.5%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$3.00 cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=left width="25%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Health care</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="39%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Nash Finch Co. </FONT><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(1.3%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Cv. sr. sub. notes stepped-coupon</FONT>&nbsp; </TD>
     <TD noWrap align=left width="25%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Consumer staples</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="39%">&nbsp; </TD>
     <TD noWrap align=left width="34%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1.631% (zero %, 3/15/13) 2035</FONT>&nbsp; </TD>
     <TD noWrap align=left width="25%">&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="39%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Crown Castle International Corp. </FONT><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(1.3%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$3.125 cum. cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=left width="25%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Communications services</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="39%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Corporate bonds and notes</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%">&nbsp; </TD>
     <TD noWrap align=left width="25%">&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="98%" background="" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="39%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>General Motors Corp. </FONT><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(0.4%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Notes 7.2%, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=left width="25%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Consumer cyclicals</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="39%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>NRG Energy, Inc. </FONT><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(0.4%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Sr. notes 7.375%, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=left width="25%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Utilities and power</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="39%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>CCH I, LLC/Capital Corp. </FONT><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(0.4%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Sec. notes 11%, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=left width="25%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Consumer staples</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="39%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>HCA, Inc. </FONT><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(0.3%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>144A sec. notes 9.25%, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=left width="25%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Health care</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="39%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Baldor Electric Co. </FONT><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(0.3%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Company guaranty 8.625%, 2017</FONT>&nbsp; </TD>
     <TD noWrap align=left width="25%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Capital goods</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>10</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_12"></A>
<P align=left><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>during its most recent fiscal quarter (many analysts were forecasting a quarterly loss), and strong underwriting performance within all of the company&#146;s insurance subsidiaries.</FONT></P>
<P align=left><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>Compared to the fund&#146;s primary benchmark, the fund&#146;s underweight positions in </FONT><B><FONT face="PBText-Roman,Times New Roman,Times,serif" size=2>General Motors </FONT></B><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>and </FONT><B><FONT face="PBText-Roman,Times New Roman,Times,serif" size=2>Ford </FONT></B><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>were the principal detractors from relative performance during the period. Under most circumstances, we believe that holding the concentrated positions in these securities that would be necessary to match their representation in the benchmark would not be appropriate under the fund&#146;s investment strategy.</FONT></P>
<P align=left><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>The fund continued to benefit from exposure to high-yield securities in the energy sector, where business fundamentals remained strong due to relatively high global demand. In fact, the overall top contributor among the fund&#146;s high-yield holdings was </FONT><B><FONT face="PBText-Roman,Times New Roman,Times,serif" size=2>XCL</FONT></B><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>, an oil and natural gas exploration and production company. XCL&#146;s securities rose significantly on news reports of potential acquirers bidding for the company. In addition, positive fundamentals drove up the value of bonds issued by natural gas companies </FONT><B><FONT face="PBText-Roman,Times New Roman,Times,serif" size=2>El Paso Corp. </FONT></B><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>and the </FONT><B><FONT face="PBText-Roman,Times New Roman,Times,serif" size=2>Williams Companies, Inc. </FONT></B><FONT face="PBTe
xt-Book,Times New Roman,Times,serif" size=2>El Paso owns North America&#146;s largest natural gas pipeline system and is one of the biggest independent natural gas producers on the continent. Williams is also in the business of natural gas exploration, production, processing, and transportation. Natural gas demand from both electrical power-generation </FONT><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>companies and individual consumers has continued to grow.</FONT></P>
<P align=left><FONT face="PBText-Book,Times New Roman,Times,serif" size=2>Our avoidance of distressed bonds (bonds rated CCC and below) was the primary detractor from high-yield bond results during the period. The lowest-rated securities rallied amid strong demand for yield and a willingness among investors to take on additional risk. Bonds issued by companies in the midst of bankruptcy proceedings, including electric utility Calpine, airline giants Delta and Northwest, and automotive component maker Delphi, were among the strongest performers during the period, but the fund did not benefit from their strength because it didn&#146;t own them. However, we continue to believe that over the long term, limiting the fund&#146;s exposure to distressed bonds is one of the best ways to provide investors with relatively stable returns.</FONT></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=2>Please note that the holdings discussed in this report may not have been held by the fund for the entire period. Portfolio composition is subject to review in accordance with the fund&#146;s investment strategy and may vary in the future.</FONT></I></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>11</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_13"></A>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>The outlook for your fund</FONT></B></P>
<P align=left><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=2>The following commentary reflects anticipated developments that could affect your fund over the next six months, as well as your management team&#146;s plans for responding to them.</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>In light of the exceptionally robust total return generated by the fund&#146;s convertible holdings during the period, we believe the strength of recent convertible performance may not be sustainable. Broader trends in convertible prices are influenced primarily by two key factors: credit spreads, or the difference in yield between higher- and lower-quality bonds, and the direction of the broad equity market. While we remain generally optimistic about the prospects for equity performance, credit spreads have tightened dramatically. This limits the price appreciation potential of high-yielding, lower-quality bonds in comparison to U.S. Treasury securities. Given this combination of circumstances, we believe that during the balance of the fund&#146;s 2007 fiscal year, returns from the fund&#146;s convertible holdings will be driven by yield rather than capital appreciation potential.</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>As we progress through the second half of fiscal 2007, our strategy in the convertibles market will be to maintain our focus on high-yielding issues that are more sensitive to movements in the underlying common stock. We will continue our efforts to avoid companies that exhibit significant credit risk. After a period of sustained economic expansion such as we have recently seen in the United States, companies that carry substantial credit risk are often in extremely poor financial condition.</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>In the high-yield bond market, while the business fundamentals of many issuers are solid, our approach to risk management calls for avoiding the lowest-quality segments of the market. As noted above, high-yield spreads relative to Treasuries are tight based on historical averages, indicating that high-yield bonds are selling at relatively high valuations. Ordinarily, this would be of significant concern. However, defaults remain at low levels and show no sign of spiking. Therefore, we find valuations to be reasonable, as long as the default rate does not increase. Nevertheless, as with the fund&#146;s high-yield convertible holdings, over the near term we believe returns from high-yield bonds will be driven primarily by yield rather than price appreciation potential.</FONT></P>
<P align=left><I><FONT face=PGTextLH-LightItalic,Arial,Helvetica,sans-serif size=2>The views expressed in this report are exclusively those of Putnam Management. They are not meant as investment advice.</FONT></I></P>
<P align=left><I><FONT face=PGTextLH-LightItalic,Arial,Helvetica,sans-serif size=2>Lower-rated bonds may offer higher yields in return for more risk. Mutual funds that invest in bonds are subject to certain risks, including interest-rate risk, credit risk, and inflation risk. As interest rates rise, the prices of bonds fall. Long-term bonds are more exposed to interest-rate risk than short-term bonds. Unlike bonds, bond funds have ongoing fees and expenses. The fund&#146;s shares trade on a stock exchange at market prices, which may be higher or lower than the fund&#146;s net asset value.</FONT></I></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>12</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_14"></A>
<P align=left><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=4>Your fund&#146;s performance</FONT></B></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>This section shows your fund&#146;s performance for periods ended February 28, 2007, the end of the first half of its current fiscal year. In accordance with regulatory requirements for mutual funds, we also include performance as of the most recent calendar quarter-end. Performance should always be considered in light of a fund&#146;s investment strategy. Data represents past performance. Past performance does not guarantee future results. More recent returns may be less or more than those shown. Investment return, net asset value, and market price will fluctuate, and you may have a gain or a loss when you sell your shares.</FONT></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>Fund performance</FONT></B><BR>
<FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Total return for periods ended 2/28/07</FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%">&nbsp; </TD>
     <TD noWrap align=right width="36%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>NAV</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>Market price</FONT>&nbsp; </TD></TR>
<TR>
     <TD align=left width="99%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Annual average</FONT>&nbsp; </TD>
     <TD noWrap align=right width="36%">&nbsp; </TD>
     <TD noWrap align=right width="19%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Life of fund (since 7/9/87)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>10.37%</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>9.53%</FONT>&nbsp; </TD></TR>
<TR>
     <TD align=left width="99%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>10 years</FONT>&nbsp; </TD>
     <TD noWrap align=right width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>131.68</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>102.18</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Annual average</FONT>&nbsp; </TD>
     <TD noWrap align=right width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>8.76</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>7.29</FONT>&nbsp; </TD></TR>
<TR>
     <TD align=left width="99%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>5 years</FONT>&nbsp; </TD>
     <TD noWrap align=right width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>92.81</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>69.63</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Annual average</FONT>&nbsp; </TD>
     <TD noWrap align=right width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>14.03</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>11.15</FONT>&nbsp; </TD></TR>
<TR>
     <TD align=left width="99%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>3 years</FONT>&nbsp; </TD>
     <TD noWrap align=right width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>34.84</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>34.08</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Annual average</FONT>&nbsp; </TD>
     <TD noWrap align=right width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>10.48</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>10.27</FONT>&nbsp; </TD></TR>
<TR>
     <TD align=left width="99%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>1 year</FONT>&nbsp; </TD>
     <TD noWrap align=right width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>14.75</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>17.24</FONT>&nbsp; </TD></TR>
<TR>
     <TD align=left width="99%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>6 months</FONT>&nbsp; </TD>
     <TD noWrap align=right width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>9.76</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>13.16</FONT>&nbsp; </TD></TR>
<TR>
     <TD align=left width="99%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR></TABLE><BR>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>Performance assumes reinvestment of distributions and does not account for taxes.</FONT></I></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>Fund performance as of most recent calendar quarter</FONT></B><BR>
<FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Total return for periods ended 3/31/07</FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%">&nbsp; </TD>
     <TD noWrap align=right width="36%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>NAV</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>Market price</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Annual average</FONT>&nbsp; </TD>
     <TD noWrap align=right width="36%">&nbsp; </TD>
     <TD noWrap align=right width="19%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Life of fund (since 7/9/87)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>10.36%</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>9.58%</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>10 years</FONT>&nbsp; </TD>
     <TD noWrap align=right width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>136.21</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>109.08</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Annual average</FONT>&nbsp; </TD>
     <TD noWrap align=right width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>8.98</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>7.65</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>5 years</FONT>&nbsp; </TD>
     <TD noWrap align=right width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>88.20</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>72.14</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Annual average</FONT>&nbsp; </TD>
     <TD noWrap align=right width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>13.48</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>11.47</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>3 years</FONT>&nbsp; </TD>
     <TD noWrap align=right width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>35.36</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>36.06</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Annual average</FONT>&nbsp; </TD>
     <TD noWrap align=right width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>10.62</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>10.81</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>1 year</FONT>&nbsp; </TD>
     <TD noWrap align=right width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>14.41</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>18.55</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="44%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>6 months</FONT>&nbsp; </TD>
     <TD noWrap align=right width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>9.19</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>12.41</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>13</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_15"></A>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>Comparative index returns</FONT></B><BR>
<FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>For periods ended 2/28/07</FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="37%">&nbsp; </TD>
     <TD noWrap align=right width="30%">&nbsp; </TD>
     <TD noWrap align=right width="14%">&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>Lipper</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="37%">&nbsp; </TD>
     <TD noWrap align=right width="30%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>Merrill Lynch</FONT>&nbsp; </TD>
     <TD noWrap align=right width="14%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>JPMorgan</FONT>&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>Convertible</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="37%">&nbsp; </TD>
     <TD noWrap align=right width="30%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>All-Convertibles</FONT>&nbsp; </TD>
     <TD noWrap align=right width="14%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>Developed</FONT>&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>Securities Funds</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="37%">&nbsp; </TD>
     <TD noWrap align=right width="30%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>Speculative</FONT>&nbsp; </TD>
     <TD noWrap align=right width="14%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>High Yield</FONT>&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>(closed-end)</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="37%">&nbsp; </TD>
     <TD noWrap align=right width="30%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>Quality Index</FONT>&nbsp; </TD>
     <TD noWrap align=right width="14%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>Index</FONT>&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>category average&#135;</FONT>&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="99%" background="" colSpan=4>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="37%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Annual average</FONT>&nbsp; </TD>
     <TD noWrap align=right width="30%">&nbsp; </TD>
     <TD noWrap align=right width="14%">&nbsp; </TD>
     <TD noWrap align=right width="18%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="37%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Life of fund (since 7/9/87)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="30%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>&#151;*</FONT>&nbsp; </TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>&#151;&#134;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>9.53%</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=4>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="37%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>10 years</FONT>&nbsp; </TD>
     <TD noWrap align=right width="30%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>149.11%</FONT>&nbsp; </TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>92.79%</FONT>&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>100.96</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="37%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Annual average</FONT>&nbsp; </TD>
     <TD noWrap align=right width="30%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>9.56</FONT>&nbsp; </TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>6.78</FONT>&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>7.20</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=4>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="37%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>5 years</FONT>&nbsp; </TD>
     <TD noWrap align=right width="30%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>84.95</FONT>&nbsp; </TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>70.25</FONT>&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>48.35</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="37%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Annual average</FONT>&nbsp; </TD>
     <TD noWrap align=right width="30%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>13.09</FONT>&nbsp; </TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>11.23</FONT>&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>8.06</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=4>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="37%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>3 years</FONT>&nbsp; </TD>
     <TD noWrap align=right width="30%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>30.28</FONT>&nbsp; </TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>28.37</FONT>&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>29.42</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="37%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Annual average</FONT>&nbsp; </TD>
     <TD noWrap align=right width="30%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>9.22</FONT>&nbsp; </TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>8.68</FONT>&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>8.95</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=4>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="37%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>1 year</FONT>&nbsp; </TD>
     <TD noWrap align=right width="30%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>15.87</FONT>&nbsp; </TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>12.08</FONT>&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>12.03</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=4>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="37%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>6 months</FONT>&nbsp; </TD>
     <TD noWrap align=right width="30%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>10.82</FONT>&nbsp; </TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>8.47</FONT>&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>8.42</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=4>
<HR noShade SIZE=1>
</TD></TR></TABLE><BR>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>Index and Lipper results should be compared to fund performance at net asset value. </FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>* The Merrill Lynch All-Convertibles Speculative Quality Index began operations on 12/31/92. </FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>&#134; The JPMorgan Developed High Yield Index began operations on 12/31/94.</FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>&#135; Over the 6-month and 1-, 3-, 5-, and 10-year periods ended 2/28/07, there were 10, 10, 10, 5, and 5 funds, respectively, in this Lipper category.</FONT></I></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif></FONT></B>&nbsp;</P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>Fund price and distribution information</FONT></B><BR>
<FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>For the six-month period ended 2/28/07</FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="69%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>Distributions*</FONT>&nbsp; </TD>
     <TD noWrap align=left width="15%">&nbsp; </TD>
     <TD noWrap align=right width="15%" colSpan=3>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="69%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Number</FONT>&nbsp; </TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>6</FONT>&nbsp; </TD>
     <TD noWrap align=right width="15%" colSpan=3>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="69%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Income</FONT>&nbsp; </TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$0.2754</FONT>&nbsp; </TD>
     <TD noWrap align=right width="15%" colSpan=3>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="69%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Capital gains</FONT>&nbsp; </TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="15%" colSpan=3>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="69%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Total</FONT>&nbsp; </TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$0.2754</FONT>&nbsp; </TD>
     <TD noWrap align=right width="15%" colSpan=3>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="69%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Share value:</FONT>&nbsp; </TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>NAV</FONT>&nbsp; </TD>
     <TD noWrap align=right width="4%"></TD>
     <TD noWrap align=right width="4%" background=""><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Market price</FONT>&nbsp;&nbsp;</TD>
     <TD noWrap align=center width="7%" background="">&nbsp;</TD></TR>
<TR>
     <TD noWrap align=left width="99%" background="" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="69%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>8/31/06</FONT>&nbsp; </TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$8.82</FONT>&nbsp; </TD>
     <TD noWrap align=right width="4%"></TD>
     <TD noWrap align=right width="4%" background=""><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$7.87</FONT>&nbsp;&nbsp;&nbsp;</TD>
     <TD noWrap align=center width="7%" background="">&nbsp;</TD></TR>
<TR>
     <TD width="99%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="69%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2/28/07</FONT>&nbsp; </TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>9.37</FONT>&nbsp; </TD>
     <TD noWrap align=right width="4%"></TD>
     <TD noWrap align=right width="4%" background=""><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>8.62</FONT>&nbsp;&nbsp;&nbsp;</TD>
     <TD noWrap align=center width="7%" background="">&nbsp;</TD></TR>
<TR>
     <TD width="99%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="69%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Current yield (end of period)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="15%">&nbsp; </TD>
     <TD noWrap align=right width="15%" colSpan=3>&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="99%" background="" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="69%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Current dividend rate</FONT><SUP><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>1</FONT></SUP>&nbsp; </TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>5.88%</FONT>&nbsp; </TD>
     <TD noWrap align=right width="4%"></TD>
     <TD noWrap align=right width="4%" background=""><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>6.39%</FONT>&nbsp;</TD>
     <TD noWrap align=center width="7%" background="">&nbsp;</TD></TR>
<TR>
     <TD width="99%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR></TABLE><BR>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>* Dividend sources are estimated and may vary based on final tax calculations after the fund's fiscal year-end.</FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>1 </FONT></I><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>Most recent distribution, excluding capital gains, annualized and divided by NAV or market price at end of period.</FONT></I></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>14</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_16"></A>
<P align=left><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=4>Your fund&#146;s management</FONT></B></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Your fund is managed by the members of the Putnam Large-Cap Value and Core Fixed-Income High-Yield teams. David King and Robert Salvin are Portfolio Leaders of your fund. The Portfolio Leaders coordinate the team&#146;s management of the fund.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>For a complete listing of the members of the Putnam Large-Cap Value and Core Fixed-Income High-Yield teams, including those who are not Portfolio Leaders or Portfolio Members of your fund, visit Putnam&#146;s Individual Investor Web site at www.putnam.com.</FONT></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>Investment team fund ownership</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The table below shows how much the fund&#146;s current Portfolio Leaders have invested in the fund and in all Putnam mutual funds (in dollar ranges). Information shown is as of February 28, 2007, and February 28, 2006.</FONT></P>
<IMG src="highincomex16x1.jpg" border=0>
<BR>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>Trustee and Putnam employee fund ownership</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>As of February 28, 2007, all of the Trustees of the Putnam funds owned fund shares. The table below shows the approximate value of investments in the fund and all Putnam funds as of that date by the Trustees and Putnam employees. These amounts include investments by the Trustees&#146; and employees&#146; immediate family members and investments through retirement and deferred compensation plans.</FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%">&nbsp; </TD>
     <TD noWrap align=left width="41%">&nbsp; </TD>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>Total assets in</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%">&nbsp; </TD>
     <TD noWrap align=left width="41%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>Assets in the fund</FONT>&nbsp; </TD>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>all Putnam funds</FONT>&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="99%" background="" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Trustees</FONT>&nbsp; </TD>
     <TD noWrap align=left width="41%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$809,000</FONT>&nbsp; </TD>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$101,000,000</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Putnam employees</FONT>&nbsp; </TD>
     <TD noWrap align=left width="41%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$ 27,000</FONT>&nbsp; </TD>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$459,000,000</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>15</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_17"></A>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>Fund manager compensation</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The total 2006 fund manager compensation that is attributable to your fund is approximately $70,000. This amount includes a portion of 2006 compensation paid by Putnam Management to the fund managers listed in this section for their portfolio management responsibilities, calculated based on the fund assets they manage taken as a percentage of the total assets they manage. The compensation amount also includes a portion of the 2006 compensation paid to the Group Chief Investment Officers of the fund&#146;s broader investment categories for their oversight responsibilities, calculated based on the fund assets they oversee taken as a percentage of the total assets they oversee. This amount does not include compensation of other personnel involved in research, trading, administration, systems, compliance, or fund operations; nor does it include non-compensation costs. These percentages are determined as of the fund&#146;s fiscal period-end. 
For personnel who joined Putnam Management during or after 2006, the calculation reflects annualized 2006 compensation or an estimate of 2007 compensation, as applicable.</FONT></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>Other Putnam funds managed by the Portfolio Leaders</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>David King is also a Portfolio Leader of Putnam Convertible Income-Growth Trust and Putnam New Value Fund. He is also a Portfolio Member of The Putnam Fund for Growth and Income. </FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Robert Salvin is also a Portfolio Member of Putnam Convertible Income-Growth Trust, Putnam High Yield Advantage Fund, and Putnam High Yield Trust.</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>David King and Robert Salvin may also manage other accounts and variable trust funds advised by Putnam Management or an affiliate.</FONT></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>Changes in your fund&#146;s Portfolio Leaders</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Your fund&#146;s Portfolio Leaders did not change during the year ended February 28, 2007.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>16</FONT></P>
<HR align=center width="100%" noShade SIZE=2>


<A name="page_18"></A>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>Putnam fund ownership by Putnam&#146;s Executive Board</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The table below shows how much the members of Putnam&#146;s Executive Board have invested in all Putnam mutual funds (in dollar ranges). Information shown is as of February 28, 2007, and February 28, 2006.</FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%">&nbsp;</TD>
     <TD noWrap align=left width="7%">&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>$1 &#150;</FONT>&nbsp;</TD>
     <TD noWrap align=left width="10%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>$10,001 &#150;</FONT>&nbsp;</TD>
     <TD noWrap align=left width="10%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>$50,001 &#150;</FONT>&nbsp;</TD>
     <TD noWrap align=left width="10%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>$100,001 &#150;</FONT>&nbsp;</TD>
     <TD noWrap align=left width="11%" background=""><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>$500,001 &#150;</FONT></TD>
     <TD noWrap align=left width="10%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>$1,000,001</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%">&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>Year&nbsp;</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""><FONT face=PGTextLH-Light,Arial,Helveti><FONT size=1>$0</FONT></FONT></TD>
     <TD noWrap align=left width="10%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>$10,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="10%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>$50,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="10%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>$100,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="10%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>$500,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="11%" background=""><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>$1,000,000</FONT></TD>
     <TD noWrap align=left width="10%"><FONT face=PGTextLH-Light,Arial,Helvetica,sans-serif size=1>and over</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="98%" colSpan=9>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=2>Philippe Bibi</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2007</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""></TD>
     <TD noWrap align=center width="10%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="30%" colSpan=2></TD>
     <TD width="68%" background="" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><I><FONT face=PGTextLH-LightItalic,Arial,Helvetica,sans-serif size=1>Chief Technology Officer</FONT></I>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2006</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""></TD>
     <TD noWrap align=center width="10%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="98%" colSpan=9>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=2>Joshua Brooks</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2007</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""></TD>
     <TD noWrap align=center width="10%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="30%" colSpan=2></TD>
     <TD width="68%" background="" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><I><FONT face=PGTextLH-LightItalic,Arial,Helvetica,sans-serif size=1>Deputy Head of Investments</FONT></I>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2006</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""></TD>
     <TD noWrap align=center width="10%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="98%" colSpan=9>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=2>William Connolly</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2007</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""></TD>
     <TD noWrap align=center width="10%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="30%" colSpan=2></TD>
     <TD width="68%" background="" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><I><FONT face=PGTextLH-LightItalic,Arial,Helvetica,sans-serif size=1>Head of Retail Management</FONT></I>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2006</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""></TD>
     <TD noWrap align=center width="10%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="98%" colSpan=9>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=2>Kevin Cronin</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2007</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""></TD>
     <TD noWrap align=center width="10%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="30%" colSpan=2></TD>
     <TD width="68%" background="" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><I><FONT face=PGTextLH-LightItalic,Arial,Helvetica,sans-serif size=1>Head of Investments</FONT></I>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2006</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""></TD>
     <TD noWrap align=center width="10%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="98%" colSpan=9>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=2>Charles Haldeman, Jr.</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2007</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""></TD>
     <TD noWrap align=center width="10%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="30%" colSpan=2></TD>
     <TD width="68%" background="" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><I><FONT face=PGTextLH-LightItalic,Arial,Helvetica,sans-serif size=1>President and CEO</FONT></I>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2006</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""></TD>
     <TD noWrap align=center width="10%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="98%" colSpan=9>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=2>Amrit Kanwal</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2007</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD>
     <TD noWrap align=center width="10%"></TD></TR>
<TR>
     <TD width="30%" colSpan=2></TD>
     <TD width="68%" background="" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><I><FONT face=PGTextLH-LightItalic,Arial,Helvetica,sans-serif size=1>Chief Financial Officer</FONT></I>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2006</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""></TD>
     <TD noWrap align=center width="10%">&nbsp;</TD></TR>
<TR>
     <TD width="98%" colSpan=9>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=2>Steven Krichmar</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2007</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""></TD>
     <TD noWrap align=center width="10%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="30%" colSpan=2></TD>
     <TD width="68%" background="" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><I><FONT face=PGTextLH-LightItalic,Arial,Helvetica,sans-serif size=1>Chief of Operations</FONT></I>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2006</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD>
     <TD noWrap align=center width="10%"></TD></TR>
<TR>
     <TD width="98%" colSpan=9>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=2>Francis McNamara, III</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2007</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""></TD>
     <TD noWrap align=center width="10%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="30%" colSpan=2></TD>
     <TD width="68%" background="" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><I><FONT face=PGTextLH-LightItalic,Arial,Helvetica,sans-serif size=1>General Counsel</FONT></I>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2006</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""></TD>
     <TD noWrap align=center width="10%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="98%" colSpan=9>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=2>Jeffrey Peters</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2007</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""></TD>
     <TD noWrap align=center width="10%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="30%" colSpan=2></TD>
     <TD width="68%" background="" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><I><FONT face=PGTextLH-LightItalic,Arial,Helvetica,sans-serif size=1>Head of International Business</FONT></I>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>N/A</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""></TD>
     <TD noWrap align=center width="10%">&nbsp;</TD></TR>
<TR>
     <TD width="98%" colSpan=9>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=2>Richard Robie, III</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2007</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD>
     <TD noWrap align=center width="10%"></TD></TR>
<TR>
     <TD width="30%" colSpan=2></TD>
     <TD width="68%" background="" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><I><FONT face=PGTextLH-LightItalic,Arial,Helvetica,sans-serif size=1>Chief Administrative Officer</FONT></I>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2006</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD>
     <TD noWrap align=center width="10%"></TD></TR>
<TR>
     <TD width="98%" colSpan=9>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=2>Edward Shadek</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2007</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""></TD>
     <TD noWrap align=center width="10%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="30%" colSpan=2></TD>
     <TD width="68%" background="" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><I><FONT face=PGTextLH-LightItalic,Arial,Helvetica,sans-serif size=1>Deputy Head of Investments</FONT></I>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2006</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""></TD>
     <TD noWrap align=center width="10%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="98%" colSpan=9>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=2>Sandra Whiston</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2007</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""></TD>
     <TD noWrap align=center width="10%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="30%" colSpan=2></TD>
     <TD width="68%" background="" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="23%"><I><FONT face=PGTextLH-LightItalic,Arial,Helvetica,sans-serif size=1>Head of Institutional Management</FONT></I>&nbsp;</TD>
     <TD noWrap align=left width="7%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2006</FONT>&nbsp;</TD>
     <TD noWrap align=left width="7%" background=""></TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=left width="10%">&nbsp;</TD>
     <TD noWrap align=center width="10%">&nbsp;</TD>
     <TD noWrap align=center width="11%" background=""><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif>&#149;</FONT>&nbsp;</TD>
     <TD noWrap align=center width="10%"></TD></TR>
<TR>
     <TD width="98%" colSpan=9>
<HR noShade SIZE=1>
</TD></TR></TABLE><BR>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>N/A indicates the individual was not a member of Putnam&#146;s Executive Board as of 2/28/06.</FONT></I></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>17</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_19"></A>
<P align=left><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=4>Terms and definitions</FONT></B></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>Important terms</FONT></B></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Total return </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>shows how the value of the fund&#146;s shares changed over time, assuming you held the shares through the entire period and reinvested all distributions in the fund.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Net asset value (NAV) </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>is the value of all your fund&#146;s assets, minus any liabilities, divided by the number of outstanding shares.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Market price </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>is the current trading price of one share of the fund. Market prices are set by transactions between buyers and sellers on exchanges such as the New York Stock Exchange and the American Stock Exchange.</FONT></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>Comparative indexes</FONT></B></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>JPMorgan Developed High Yield Index </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>is an unmanaged index of high-yield fixed-income securities issued in developed countries.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Lehman Aggregate Bond Index </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>is an unmanaged index of U.S. investment-grade fixed-income securities.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Lehman Global Aggregate Bond Index </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>is an unmanaged index of global investment-grade fixed-income securities.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Merrill Lynch All-Convertibles Speculative Quality Index </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>is an unmanaged index of high-yield U.S. convertible securities.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Morgan Stanley Capital International (MSCI) EAFE Index </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>is an unmanaged index of equity securities from developed countries in Western Europe, the Far East, and Australasia. </FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Russell 2000 Index </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>is an unmanaged index of the 2,000 smallest companies in the Russell 3000 Index.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>S&amp;P 500 Index </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>is an unmanaged index of common stock performance.</FONT></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>Indexes assume reinvestment of all distributions and do not account for fees. Securities and performance of a fund and an index will differ. You cannot invest directly in an index.</FONT></I></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Lipper </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>is a third-party industry-ranking entity that ranks mutual funds. Its rankings do not reflect sales charges. Lipper rankings are based on total return at net asset value relative to other funds that have similar current investment styles or objectives as determined by Lipper. Lipper may change a fund&#146;s category assignment at its discretion. Lipper category averages reflect performance trends for funds within a category.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>18</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_20"></A>
<P align=left><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=4>Trustee approval of </FONT></B><BR>
<B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=4>management contract</FONT></B></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>General conclusions</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The Board of Trustees of the Putnam funds oversees the management of each fund and, as required by law, determines annually whether to approve the continuance of your fund&#146;s management contract with Putnam Management and the sub-management contract between Putnam Management&#146;s affiliate, Putnam Investments Limited (&#147;PIL&#148;), and Putnam Management. In this regard, the Board of Trustees, with the assistance of its Contract Committee consisting solely of Trustees who are not &#147;interested persons&#148; (as such term is defined in the Investment Company Act of 1940, as amended) of the Putnam funds (the &#147;Independent Trustees&#148;), requests and evaluates all information it deems reasonably necessary under the circumstances. Over the course of several months ending in June 2006, the Contract Committee met four times to consider the information provided by Putnam Management and other information developed with the assi
stance of the Board&#146;s independent counsel and independent staff. The Contract Committee reviewed and discussed key aspects of this information with all of the Independent Trustees. Upon completion of this review, the Contract Committee recommended, and the Independent Trustees approved, the continuance of your fund&#146;s management contract and sub-management contract, effective July 1, 2006. (Because PIL is an affiliate of Putnam Management and Putnam Management remain fully responsible for all services provided by PIL, the Trustees have not evaluated PIL as a separate entity, and all subsequent references to Putnam Management below include reference to PIL as necessary or appropriate in the context.) </FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>This approval was based on the following conclusions: </FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>&#149; </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>That the fee schedule in effect for your fund represented reasonable compensation in light of the nature and quality of the services being provided to the fund, the fees paid by competitive funds and the costs incurred by Putnam Management in providing such services, and </FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>&#149; </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>That such fee schedule represented an appropriate sharing between fund shareholders and Putnam Management of such economies of scale as may exist in the management of the fund at current asset levels.</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>These conclusions were based on a comprehensive consideration of all information provided to the Trustees and were not the result of any single factor. Some of the factors that figured particularly in the Trustees&#146; deliberations and how the Trustees considered these factors are described below, although individual Trustees may have evaluated the information presented differently, giving different weights to various factors. It is also important to recognize that the fee arrangements for your fund and the other Putnam funds are the result of many years of review and discussion between the Independent Trustees and Putnam Management, that certain aspects of such arrangements may receive greater scrutiny in some years than others, and that the Trustees&#146; conclusions may be based, in part, on their consideration of these same arrangements in prior years.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>19</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_21"></A>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>Management fee schedules and categories; total expenses</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The Trustees reviewed the management fee schedules in effect for all Putnam funds, including fee levels and breakpoints, and the assignment of funds to particular fee categories. In reviewing fees and expenses, the Trustees generally focused their attention on material changes in circumstances &#151; for example, changes in a fund&#146;s size or investment style, changes in Putnam Management&#146;s operating costs, or changes in competitive practices in the mutual fund industry &#151; that suggest that consideration of fee changes might be warranted. The Trustees concluded that the circumstances did not warrant changes to the management fee structure of your fund, which had been carefully developed over the years, re-examined on many occasions and adjusted where appropriate. The Trustees focused on two areas of particular interest, as discussed further below: </FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>&#149; </FONT><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Competitiveness. </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The Trustees reviewed comparative fee and expense information for competitive funds, which indicated that, in a custom peer group of competitive funds selected by Lipper Inc., your fund ranked in the 67th percentile in management fees and in the 33rd percentile in total expenses as of December 31, 2005 (the first percentile being the least expensive funds and the 100th percentile being the most expensive funds). The Trustees expressed their intention to monitor this information closely to ensure that fees and expenses of your fund continue to meet evolving competitive standards. </FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>&#149; </FONT><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Economies of scale. </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>In recent years, the Trustees have examined the operation of the existing breakpoint structure during periods of both growth and decline in asset levels. (A &#147;breakpoint&#148; is a reduction in fee rates that applies to additional assets once specified asset levels are reached.) The Trustees concluded that the fee schedules in effect for the funds represented an appropriate sharing of economies of scale at current asset levels. In reaching this conclusion, the Trustees considered the Contract Committee&#146;s stated intent to continue to work with Putnam Management to plan for an eventual resumption in the growth of assets, including a study of potential economies that might be produced under various growth assumptions. </FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>In connection with their review of the management fees and total expenses of the Putnam funds, the Trustees also reviewed the costs of the services to be provided and profits to be realized by Putnam Management and its affiliates from the relationship with the funds. This information included trends in revenues, expenses and profitability of Putnam Management and its affiliates relating to the investment management and distribution services provided to the funds. In this regard, the Trustees also reviewed an analysis of Putnam Management&#146;s revenues, expenses and profitability with respect to the funds&#146; management contracts, allocated on a fund-by-fund basis. Because many of the costs incurred by Putnam Management in managing the funds are not readily identifiable to particular funds, the Trustees observed that the methodology for allocating costs is an important factor in evaluating Putnam Management&#146;s costs and profitabil
ity, both as to</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>20</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_22"></A>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>the Putnam funds in the aggregate and as to individual funds. The Trustees reviewed Putnam Management&#146;s cost allocation methodology with the assistance of independent consultants and concluded that this methodology was reasonable and well-considered.</FONT></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>Investment performance</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The quality of the investment process provided by Putnam Management represented a major factor in the Trustees&#146; evaluation of the quality of services provided by Putnam Management under your fund&#146;s management contract. The Trustees were assisted in their review of the Putnam funds&#146; investment process and performance by the work of the Investment Process Committee of the Trustees and the Investment Oversight Committees of the Trustees, which meet on a regular monthly basis with the funds&#146; portfolio teams throughout the year. The Trustees concluded that Putnam Management generally provides a high-quality investment process &#151; as measured by the experience and skills of the individuals assigned to the management of fund portfolios, the resources made available to such personnel, and in general the ability of Putnam Management to attract and retain high-quality personnel &#151; but also recognize that this does not gu
arantee favorable investment results for every fund in every time period. The Trustees considered the investment performance of each fund over multiple time periods and considered information comparing each fund&#146;s performance with various benchmarks and with the performance of competitive funds. </FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The Trustees noted the satisfactory investment performance of many Putnam funds. They also noted the disappointing investment performance of certain funds in recent years and discussed with senior management of Putnam Management the factors contributing to such underperformance and actions being taken to improve performance. The Trustees recognized that, in recent years, Putnam Management has made significant changes in its investment personnel and processes and in the fund product line to address areas of underperformance. In particular, they noted the important contributions of Putnam Management&#146;s leadership in attracting, retaining and supporting high-quality investment professionals and in systematically implementing an investment process that seeks to merge the best features of fundamental and quantitative analysis. The Trustees indicated their intention to continue to monitor performance trends to assess the effectiveness of t
hese changes and to evaluate whether additional changes to address areas of underperformance are warranted.</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>In the case of your fund, the Trustees considered that your fund&#146;s common share cumulative total return performance at net asset value was in the following percentiles of its Lipper Inc. peer group (Lipper Convertible Securities Funds (closed-end)) for the one-, three- and five-year periods ended March 31, 2006 (the first percentile being the best performing funds and the 100th percentile being the worst performing funds):</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>21</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_23"></A>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=center width="30%"><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>One-year period</FONT>&nbsp; </TD>
     <TD noWrap align=center width="39%"><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Three-year period</FONT>&nbsp; </TD>
     <TD noWrap align=center width="30%"><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Five-year period</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center width="30%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>75th</FONT>&nbsp; </TD>
     <TD noWrap align=center width="39%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>23rd</FONT>&nbsp; </TD>
     <TD noWrap align=center width="30%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>15th</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>(Because of the passage of time, these performance results may differ from the performance results for more recent periods shown elsewhere in this report. Over the one-, three- and five-year periods ended March 31, 2006, there were 11, 8, and 6 funds, respectively, in your fund&#146;s Lipper peer group.* Past performance is no guarantee of future performance.) </FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>As a general matter, the Trustees concluded that cooperative efforts between the Trustees and Putnam Management represent the most effective way to address investment performance problems. The Trustees noted that investors in the Putnam funds have, in effect, placed their trust in the Putnam organization, under the oversight of the funds&#146; Trustees, to make appropriate decisions regarding the management of the funds. Based on the responsiveness of Putnam Management in the recent past to Trustee concerns about investment performance, the Trustees concluded that it is preferable to seek change within Putnam Management to address performance shortcomings. In the Trustees&#146; view, the alternative of terminating a management contract and engaging a new investment adviser for an underperforming fund would entail significant disruptions and would not provide any greater assurance of improved investment performance.</FONT></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>Brokerage and soft-dollar allocations; other benefits</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The Trustees considered various potential benefits that Putnam Management may receive in connection with the services it provides under the management contract with your fund. These include benefits related to brokerage and soft-dollar allocations, whereby a portion of the commissions paid by a fund for brokerage may be used to acquire research services that may be useful to Putnam Management in managing the assets of the fund and of other clients. The Trustees indicated their continued intent to monitor the potential benefits associated with the allocation of fund brokerage to ensure that the principle of seeking &#147;best price and execution&#148; remains paramount in the portfolio trading process.</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The Trustees&#146; annual review of your fund&#146;s management contract also included the review of your fund&#146;s custodian and investor servicing agreements with Putnam Fiduciary Trust Company, which provide benefits to affiliates of Putnam Management. </FONT></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>* The percentile rankings for your fund&#146;s common share annualized total return performance in the Lipper Convertible Securities Funds (closed-end) category for the one-, five- and ten-year periods ended March 31, 2007, were 10%, 17%, and 17%, respectively. </FONT></I><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>Over the one-, five- and ten-year periods ended March 31, 2007, the fund ranked 1st out of 10, 1st out of 5, and 1st out of 5 funds, respectively. Note that this more recent information was not available when the Trustees approved the continuance of your fund&#146;s management contract.</FONT></I></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>22</FONT></P>
<HR align=center width="100%" noShade SIZE=2>


<!--$$/page=-->
<A name="page_24"></A>

<P align="left">
<B><FONT face="PGTextLH-Bold,Arial,Helvetica,sans-serif">Comparison of retail and institutional fee schedules</FONT></B></P>
<P align="left">
<FONT size=2 face="PGText-Light,Arial,Helvetica,sans-serif">The information examined by the Trustees as part of their annual contract review has included for many years information regarding fees charged by Putnam Management and its affiliates to
institutional clients such as defined benefit pension plans, college endowments, etc. This information included comparison of such fees with fees charged to the funds, as well as a detailed assessment of the differences in the services provided to
these two types of clients. The Trustees observed, in this regard, that the differences in fee rates between institutional clients and the funds are by no means uniform when examined by individual asset sectors, suggesting that differences in the
pricing of investment management services to these types of clients reflect to a substantial degree historical competitive forces operating in separate market places. The Trustees considered the fact that fee rates across all asset sectors are
higher on average for funds than for institutional clients, as well as the differences between the services that Putnam Management provides to the Putnam funds and those that it provides to institutional clients of the firm, but did not rely on such
comparisons to any significant extent in concluding that the management fees paid by your fund are reasonable.</FONT></P>
<P align="left">
<B><FONT face="PGTextLH-Bold,Arial,Helvetica,sans-serif">Approval of new management and sub-management contracts in connection with pending change in control</FONT></B></P>
<P align="left">
<FONT size=2 face="PGText-Light,Arial,Helvetica,sans-serif">As discussed in the &#147;Message from the Trustees&#148; at the beginning of this shareholder report, on February 1, 2007, Marsh &amp; McLennan Companies, Inc. announced that it had signed
a definitive agreement to sell its ownership interest in Putnam Investments Trust, the parent company of Putnam Management and its affiliates, to Great-West Lifeco Inc., a member of the Power Financial Corporation group of companies. This
transaction is subject to regulatory approvals and other conditions, including the approval of new management contracts by shareholders of a substantial number of Putnam funds at shareholder meetings scheduled for May 15, 2007. Proxy solicitation
materials related to these meetings, which provide detailed information regarding the transaction, were recently mailed. The transaction is currently expected to be completed by the middle of 2007.</FONT></P>
<P align="left">
<FONT size=2 face="PGText-Light,Arial,Helvetica,sans-serif">At an in-person meeting on February 8-9, 2007, the Trustees considered the approval of new management contracts for each Putnam fund (and, in the case of your fund, a new sub-management
contract) proposed to become effective upon the closing of the transaction, and the filing of a preliminary proxy statement. At an in-person meeting on March 8-9, 2007, the Trustees considered the approval of the final forms of the proposed new
management contracts for each Putnam fund (and, in the case of your fund, the new sub-management contract) and the proxy statement. They reviewed the terms of the proposed new management contracts and the differences between the proposed new
management contracts and the current management contracts. They noted that the terms of the proposed new management contracts were substantially identical to the current management contracts, except for certain changes developed at the initiative of
the Trustees and</FONT></P>
<P align="left">
<FONT size=2 face="PGText-Roman,Arial,Helvetica,sans-serif">23</FONT></P>

<HR noshade align="center"width="100%"size=2>



<!--$$/page=-->
<A name="page_25"></A>

<P align="left">
<FONT size=2 face="PGText-Light,Arial,Helvetica,sans-serif">designed largely to address inconsistencies among various of the existing contracts, which had been developed and implemented at different times in the past. They noted, in the case of your
fund, that the terms of the proposed new sub-management contract were identical to the current sub-management contract, except for the effective date. In considering the approval of the proposed new management contracts (and, in the case of your
fund, the new sub-management contract), the Trustees also considered, as discussed further in the proxy statement, various matters relating to the transaction. Finally, in considering the proposed new management contracts (and, in the case of your
fund, the new sub-management contract), the Trustees also took into account their deliberations and conclusions (discussed above in the preceding paragraphs of the &#147;Trustee Approval of Management Contract&#148; section) in connection with the
most recent annual approval of the continuance of the Putnam funds&#146; management (and, in the case of your fund, sub-management) contracts effective July 1, 2006, and the extensive materials that they had reviewed in connection with that approval
process. Based upon the foregoing considerations, on March 9, 2007, the Trustees, including all of the Independent Trustees, unanimously approved the proposed new management contracts (and, in the case of your fund, the new sub-management contract)
and determined to recommend their approval to the shareholders of the Putnam funds. </FONT></P>
<P align="left">
<FONT size=2 face="PGText-Roman,Arial,Helvetica,sans-serif">24</FONT></P>

<HR noshade align="center"width="100%"size=2>



<!--$$/page=-->
<A name="page_26"></A>

<P align="left">
<B><FONT size=4 face="PGText-Bold,Arial,Helvetica,sans-serif">Other information</FONT></B><BR>
<B><FONT size=4 face="PGText-Bold,Arial,Helvetica,sans-serif">for shareholders</FONT></B></P>
<P align="left">
<B><FONT face="PGTextLH-Bold,Arial,Helvetica,sans-serif">Important notice regarding share repurchase program</FONT></B></P>
<P align="left">
<FONT size=2 face="PGText-Light,Arial,Helvetica,sans-serif">In September 2006, the Trustees of your fund approved an extension of the current share repurchase program being implemented by Putnam Investments on behalf of your fund. The plan, as
extended, allows your fund to repurchase, in the 24 months ending October 6, 2007, up to 10% of the common shares outstanding as of October 7, 2005. </FONT></P>
<P align="left">
<B><FONT face="PGTextLH-Bold,Arial,Helvetica,sans-serif">Important notice regarding delivery of shareholder documents</FONT></B></P>
<P align="left">
<FONT size=2 face="PGText-Light,Arial,Helvetica,sans-serif">In accordance with SEC regulations, Putnam sends a single copy of annual and semiannual shareholder reports, prospectuses, and proxy statements to Putnam shareholders who share the same
address, unless a shareholder requests otherwise. If you prefer to receive your own copy of these documents, please call Putnam at 1-800-225-1581, and Putnam will begin sending individual copies within 30 days.</FONT></P>
<P align="left">
<B><FONT face="PGTextLH-Bold,Arial,Helvetica,sans-serif">Proxy voting</FONT></B></P>
<P align="left">
<FONT size=2 face="PGText-Light,Arial,Helvetica,sans-serif">Putnam is committed to managing our mutual funds in the best interests of our shareholders. The Putnam funds&#146; proxy voting guidelines and procedures, as well as information regarding
how your fund voted proxies relating to portfolio securities during the 12-month period ended June 30, 2006, are available on the Putnam Individual Investor Web site, www.putnam.com/individual, and on the SEC&#146;s Web site, www.sec.gov. If you
have questions about finding forms on the SEC&#146;s Web site, you may call the SEC at 1-800-SEC-0330. You may also obtain the Putnam funds&#146; proxy voting guidelines and procedures at no charge by calling Putnam&#146;s Shareholder Services at
1-800-225-1581.</FONT></P>
<P align="left">
<B><FONT face="PGTextLH-Bold,Arial,Helvetica,sans-serif">Fund portfolio holdings</FONT></B></P>
<P align="left">
<FONT size=2 face="PGText-Light,Arial,Helvetica,sans-serif">The fund will file a complete schedule of its portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Shareholders may obtain the fund&#146;s Forms
N-Q on the SEC&#146;s Web site at www.sec.gov. In addition, the fund&#146;s Forms N-Q may be reviewed and copied at the SEC&#146;s Public Reference Room in Washington, D.C. You may call the SEC at 1-800-SEC-0330 for information about the SEC&#146;s
Web site or the operation of the Public Reference Room.</FONT></P>
<P align="left">
<FONT size=2 face="PGText-Roman,Arial,Helvetica,sans-serif">25</FONT></P>

<HR noshade align="center"width="100%"size=2>


<!--$$/page=-->
<A name="page_27"></A>
<P align=left><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=4>Financial statements</FONT></B></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>A guide to financial statements</FONT></B></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>These sections of the report, as well as the accompanying Notes, constitute the fund&#146;s financial statements. </FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>The fund&#146;s portfolio </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>lists all the fund&#146;s investments and their values as of the last day of the reporting period. Holdings are organized by asset type and industry sector, country, or state to show areas of concentration and diversification.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Statement of assets and liabilities </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>shows how the fund&#146;s net assets and share price are determined. All investment and noninvestment assets are added together. Any unpaid expenses and other liabilities are subtracted from this total. The result is divided by the number of shares to determine the net asset value per share. (For funds with preferred shares, the amount subtracted from total assets includes the liquidation preference of preferred shares.) </FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Statement of operations </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>shows the fund&#146;s net investment gain or loss. This is done by first adding up all the fund&#146;s earnings &#151; from dividends and interest income &#151; and subtracting its operating expenses to determine net investment income (or loss). Then, any net gain or loss the fund realized on the sales of its holdings &#151; as well as any unrealized gains or losses over the period &#151; is added to or subtracted from the net investment result to determine the fund&#146;s net gain or loss for the fiscal period.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Statement of changes in net assets </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>shows how the fund&#146;s net assets were affected by the fund&#146;s net investment gain or loss, by distributions to shareholders, and by changes in the number of the fund&#146;s shares. It lists distributions and their sources (net investment income or realized capital gains) over the current reporting period and the most recent fiscal year-end. The distributions listed here may not match the sources listed in the Statement of operations because the distributions are determined on a tax basis and may be paid in a different period from the one in which they were earned. Dividend sources are estimated at the time of declaration. Actual results may vary. Any non-taxable return of capital cannot be determined until final tax calculations are completed after the end of the fund&#146;s fiscal year.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Financial highlights </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>provide an overview of the fund&#146;s investment results, per-share distributions, expense ratios, net investment income ratios, and portfolio turnover in one summary table, reflecting the five most recent reporting periods. In a semiannual report, the highlight table also includes the current reporting period. </FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>26</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_28"></A>
<P align=left><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=4>The fund&#146;s portfolio </FONT></B><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>2/28/07 (Unaudited)</FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>CONVERTIBLE PREFERRED STOCKS (40.0%)*</FONT>&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Shares</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=4>
<HR noShade SIZE=1>
&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Banking (2.6%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Marshall &amp; Ilsley Corp. $1.625 cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>58,500</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,563,705</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Sovereign Capital Trust IV $2.188 cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>46,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,294,250</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Washington Mutual Capital Trust I $2.688 cum. cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>29,200</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,612,716</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>5,470,671</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=4>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="98%" colSpan=4>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Basic Materials (3.6%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Bunge, Ltd. 4.875% cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>10,775</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,210,804</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Freeport-McMoRan Copper &amp; Gold, Inc. 5.50% cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,900</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,568,563</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Huntsman Corp. $2.50 cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>25,500</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,115,625</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Smurfit-Stone Container Corp. Ser. A, $1.75 cum. cv. pfd. (S)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>101,920</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,484,300</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>7,379,292</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=4>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="98%" colSpan=4>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Capital Goods (4.2%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Allied Waste Industries Ser. D, 6.25% cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>4,060</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,380,400</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Northrop Grumman Corp. Ser. B, $7.00 cum. cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>33,465</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>4,597,254</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Owens-Illinois, Inc. $2.375 cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>63,770</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,423,260</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>8,400,914</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=4>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="98%" colSpan=4>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Communication Services (2.1%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Cincinnati Bell, Inc. Ser. B, $3.378 cum. cv. pfd. (S)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>35,300</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,623,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Crown Castle International Corp. $3.125 cum. cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>46,095</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,627,415</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>4,251,215</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=4>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="98%" colSpan=4>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Consumer Cyclicals (5.4%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Emmis Communications Corp. Ser. A, $3.125 cum. cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>24,100</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,018,225</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Co. Capital Trust II $3.25 cum. cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>66,700</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,467,900</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>General Motors Corp. Ser. A, $1.125 cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>141,300</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>3,479,513</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Retail Ventures, Inc. $3.312 cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>12,720</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>876,090</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Six Flags, Inc. $1.813 cum. cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>63,200</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,485,200</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>United Rentals Trust I $3.25 cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>32,103</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,573,047</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>10,899,975</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=4>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="98%" colSpan=4>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Consumer Staples (2.1%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Newell Financial Trust I $2.625 cum. cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>35,400</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,681,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Rite Aid Corp. $1.375 cum. cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>36,400</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,116,024</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Universal Corp. 6.75% cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,070</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,377,759</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>4,175,283</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=4>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="98%" colSpan=4>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Energy (2.1%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Chesapeake Energy Corp. 6.25% cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>8,620</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,239,045</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Edge Petroleum Corp. Ser. A, $2.875 cum. cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>20,650</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,073,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Hanover Compressor Capital Trust $3.625 cum. cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>13,715</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>872,617</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>4,185,462</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>27</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_29"></A>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>CONVERTIBLE PREFERRED STOCKS (40.0%)* </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="5%" background=""></TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%">&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Shares</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=5>
<HR noShade SIZE=1>
&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Financial (1.0%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="5%" background=""></TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Fannie Mae Ser. 04-1, 5.375% cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>20</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2,027,408</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="99%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Health Care (1.5%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="5%" background=""></TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Schering-Plough Corp. $3.00 cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>55,300</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>3,076,063</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="99%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Insurance (2.5%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="5%" background=""></TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Alleghany Corp. 5.75% cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>3,800</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,378,450</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Aspen Insurance Holdings, Ltd. $2.813 cv. pfd. (Bermuda)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>20,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,102,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Conseco, Inc. $1.375 cum. cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>58,300</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,450,213</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Platinum Underwriters Holdings, Ltd. Ser. A, 6.00% cv. pfd. (Bermuda)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>34,500</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,060,875</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%">&nbsp; </TD>
     <TD noWrap align=left width="5%" background=""></TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>4,992,038</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="99%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Investment Banking/Brokerage (3.1%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="5%" background=""></TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Affiliated Managers Group, Inc. 144A $2.55 cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>21,500</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,190,563</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>E*Trade Financial Corp. $1.531 cum. cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>55,500</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,658,063</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Lehman Brothers Holdings, Inc. $1.563 cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>80,190</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,185,178</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Merrill Lynch &amp; Co., Inc. Ser. JNC, 6.75% cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>30,260</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,269,710</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%">&nbsp; </TD>
     <TD noWrap align=left width="5%" background=""></TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>6,303,514</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="99%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Real Estate (3.6%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="5%" background=""></TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Entertainment Properties Trust Ser. C, $1.437 cum. cv. pfd. (R)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>37,230</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,001,115</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>FelCor Lodging Trust, Inc. Ser. A, $0.488 cum. cv. pfd. (R)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>99,200</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,492,400</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Nationwide Health Properties, Inc. 7.75% cv. pfd. (R)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>16,100</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,398,900</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Simon Property Group LP $3.00 cv. pfd. (R)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>15,100</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,366,550</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%">&nbsp; </TD>
     <TD noWrap align=left width="5%" background=""></TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>7,258,965</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="99%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Technology (1.1%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="5%" background=""></TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Lucent Technologies Capital Trust I 7.75% cum. cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,100</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2,170,088</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="99%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Utilities &amp; Power (5.1%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="5%" background=""></TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>AES Trust III $3.375 cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>33,400</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,624,075</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>El Paso Corp. 144A 4.99% cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,300</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,650,675</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>El Paso Energy Capital Trust I $2.375 cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>38,950</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,519,050</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Entergy Corp. $3.813 cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>40,900</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,520,463</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>NRG Energy, Inc. 5.75% cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>4,100</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,245,888</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Southern Union Co. $2.50 cv. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>30,700</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,703,850</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%">&nbsp; </TD>
     <TD noWrap align=left width="5%" background=""></TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>10,264,001</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="99%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Total convertible preferred stocks (cost $72,535,406)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="5%" background=""></TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>80,854,889</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=5></TD></TR>
<TR>
     <TD width="99%" colSpan=5>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>CORPORATE BONDS AND NOTES (39.8%)*</FONT>&nbsp; </TD>
     <TD noWrap align=left width="5%" background=""></TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=right width="60%"></TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%" background=""><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Principal amount</FONT>&nbsp;</TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=5>
<HR noShade SIZE=1>
&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Basic Materials (4.5%)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="5%" background=""></TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Abitibi-Consolidated, Inc. debs. 8.85s, 2030 (Canada)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </FONT></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>60,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>55,200</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Abitibi-Consolidated, Inc. notes 7 3/4s, 2011 (Canada)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>130,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>127,400</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Abitibi-Consolidated, Inc. notes 6s, 2013 (Canada)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>122,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>107,360</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>AK Steel Corp. company guaranty 7 3/4s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background=""></TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>345,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>349,313</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="60%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Aleris International, Inc. 144A sr. notes 9s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%" background="">&nbsp;</TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>160,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>169,600</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>28</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_30"></A>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>CORPORATE BONDS AND NOTES (39.8%)* </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%">&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Principal amount</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Basic Materials </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Aleris International, Inc. 144A sr. sub. notes 10s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>180,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>189,900</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>ARCO Chemical Co. debs. 10 1/4s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>220,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>244,200</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>BCP Crystal US Holdings Corp. sr. sub. notes 9 5/8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>105,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>116,681</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Builders FirstSource, Inc. company guaranty FRN 9.61s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>115,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>117,300</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Century Aluminum Co. company guaranty 7 1/2s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>80,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>81,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Chaparral Steel Co. company guaranty 10s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>460,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>514,050</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Chesapeake Corp. sr. sub. notes 7s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>EUR</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>120,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>153,747</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Clondalkin Industries BV 144A sr. notes 8s,</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2014 (Netherlands)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>EUR</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>245,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>345,178</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Cognis Holding GmbH &amp; Co. 144A sr. notes 12.876s,</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2015 (Germany) &#135;&#135;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>EUR</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>218,706</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>301,261</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Covalence Specialty Materials Corp. 144A sr. sub. notes</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>10 1/4s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>405,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>385,763</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Crystal US Holdings, LLC sr. disc. notes stepped-coupon</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ser. A, zero % (10s, 10/1/09), 2014 &#134;&#134;</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>520,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>455,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Domtar, Inc. notes 7 1/8s, 2015 (Canada)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>15,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>15,056</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Domtar, Inc. notes 5 3/8s, 2013 (Canada)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>300,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>277,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Georgia-Pacific Corp. debs. 9 1/2s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>370,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>413,475</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Gerdau Ameristeel Corp. sr. notes 10 3/8s, 2011 (Canada)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>40,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>42,600</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Hercules, Inc. company guaranty 6 3/4s, 2029</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>205,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>205,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Huntsman, LLC company guaranty 11 5/8s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,170</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Jefferson Smurfit Corp. company guaranty 8 1/4s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>119,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>121,380</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Jefferson Smurfit Corp. company guaranty 7 1/2s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>150,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>149,250</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>JSG Holding PLC 144A sr. notes 11 1/2s, 2015 (Ireland) &#135;&#135;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>EUR</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>124,931</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>176,014</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Lyondell Chemical Co. company guaranty 8 1/4s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>95,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>102,125</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Lyondell Chemical Co. company guaranty 8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>155,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>163,138</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>MDP Acquisitions PLC sr. notes 9 5/8s, 2012 (Ireland)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>255,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>270,619</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Metals USA, Inc. sec. notes 11 1/8s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>340,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>377,400</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Momentive Performance Materials, Inc. 144A sr. notes</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9 3/4s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>345,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>361,388</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Nalco Co. sr. sub. notes 8 7/8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>265,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>282,225</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Nell AF S.a.r.l. 144A sr. notes 8 3/8s, 2015 (Luxembourg)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>265,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>279,575</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Nell AF S.a.r.l. 144A sr. notes 8 3/8s, 2015 (Luxembourg)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>EUR</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>50,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>73,024</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>NewPage Corp. company guaranty 10s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>220,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>239,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Newpage Holding Corp. sr. notes FRN 12.389s, 2013 &#135;&#135;</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>85,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>85,850</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Norske Skog Canada, Ltd. company guaranty Ser. D,</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>8 5/8s, 2011 (Canada)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>290,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>295,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Novelis, Inc. company guaranty 7 1/4s, 2015 (acquired</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>various dates from 8/10/05 to 2/5/07, cost $162,988) &#135;</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>160,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>166,400</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>PCI Chemicals Canada sec. sr. notes 10s, 2008 (Canada)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>48,980</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>50,327</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>PQ Corp. company guaranty 7 1/2s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>230,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>231,725</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Rockwood Specialties Group, Inc. company guaranty</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7 5/8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>EUR</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>245,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>343,881</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Stone Container Corp. sr. notes 9 3/4s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>285,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>295,331</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Stone Container Corp. sr. notes 8 3/8s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>40,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>40,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Tube City IMS Corp. 144A sr. sub. notes 9 3/4s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>160,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>168,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ucar Finance, Inc. company guaranty 10 1/4s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=left width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>29,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>30,523</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>29</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_31"></A>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>CORPORATE BONDS AND NOTES (39.8%)* </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%">&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Principal amount</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Basic Materials </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Wheeling-Pittsburgh Steel Corp. sr. notes Ser. A, 5s, 2011 &#135;&#135;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>23,486</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>18,260</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Wheeling-Pittsburgh Steel Corp. sr. notes Ser. B, 6s, 2010 &#135;&#135;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>13,329</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>10,363</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%">&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>9,002,752</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="98%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Capital Goods (3.6%)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Alliant Techsystems, Inc. sr. sub. notes 6 3/4s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>230,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>230,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Allied Waste North America, Inc. company guaranty</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6 7/8s, 2017</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>295,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>292,788</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Allied Waste North America, Inc. company guaranty Ser. B,</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>8 1/2s, 2008</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>233,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>244,941</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Allied Waste North America, Inc. sec. notes Ser. B,</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>5 3/4s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>30,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>29,288</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>American Railcar Industries, Inc. 144A sr. unsec. notes</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7 1/2s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>40,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>40,700</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Amsted Industries, Inc. 144A sr. notes 10 1/4s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>475,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>508,844</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Baldor Electric Co. company guaranty 8 5/8s, 2017</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>565,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>593,250</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Blount, Inc. sr. sub. notes 8 7/8s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>150,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>156,375</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Bombardier, Inc. 144A sr. notes 8s, 2014 (Canada)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>75,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>78,375</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Browning-Ferris Industries, Inc. sr. notes 6 3/8s, 2008</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>140,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>140,175</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Crown Americas, LLC/Crown Americas Capital Corp.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>sr. notes 7 5/8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>335,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>345,888</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Crown Euro Holdings SA company guaranty 6 1/4s,</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2011 (France)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>EUR</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>155,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>211,816</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Graham Packaging Co., Inc. sub. notes 9 7/8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>140,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>144,200</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Greenbrier Cos., Inc. company guaranty 8 3/8s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>325,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>329,875</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Hexcel Corp. sr. sub. notes 6 3/4s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>125,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>124,063</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>K&amp;F Acquisitions, Inc. company guaranty 7 3/4s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>335,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>345,888</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>L-3 Communications Corp. company guaranty 7 5/8s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>100,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>103,750</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>L-3 Communications Corp. company guaranty 6 1/8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>120,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>118,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>L-3 Communications Corp. sr. sub. notes 5 7/8s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>75,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>73,125</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>L-3 Communications Corp. sr. sub. notes Class B,</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6 3/8s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>215,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>213,925</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Legrand SA debs. 8 1/2s, 2025 (France)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>425,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>495,125</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Manitowoc Co., Inc. (The) company guaranty 10 1/2s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>170,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>181,900</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Milacron Escrow Corp. sec. notes 11 1/2s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>325,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>318,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Owens-Brockway Glass Container, Inc. company guaranty</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6 3/4s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>EUR</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>230,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>313,547</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Owens-Brockway Glass Container, Inc. sr. sec. notes</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>8 3/4s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>65,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>68,250</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Owens-Illinois, Inc. debs. 7 1/2s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>55,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>56,375</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ray Acquisition SCA 144A sec. notes 9 3/8s, 2015 (France)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>EUR</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>180,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>271,935</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>RBS Global, Inc. / Rexnord Corp. 144A company guaranty</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9 1/2s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>355,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>374,525</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>RBS Global, Inc. / Rexnord Corp. 144A sr. notes 8 7/8s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>40,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>40,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Solo Cup Co. sr. sub. notes 8 1/2s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>235,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>203,863</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>TD Funding Corp. 144A sr. sub. notes 7 3/4s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>140,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>143,850</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Tekni-Plex, Inc. 144A sec. notes 10 7/8s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>320,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>358,400</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Titan International, Inc. 144A sr. notes 8s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>140,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>142,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="57%">&nbsp; </TD>
     <TD noWrap align=right width="7%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>7,295,636</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>30</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_32"></A>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>CORPORATE BONDS AND NOTES (39.8%)* </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Principal amount</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Communication Services (3.9%)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>American Cellular Corp. company guaranty 9 1/2s, 2009</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>45,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>44,550</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>American Cellular Corp. sr. notes Ser. B, 10s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>320,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>340,400</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Centennial Cellular Operating Co., LLC company guaranty</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>10 1/8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>90,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>97,313</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Centennial Communications Corp. sr. notes 10s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>145,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>156,600</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Centennial Communications Corp. sr. notes FRN</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>11.11s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>40,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>42,200</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Citizens Communications Co. notes 9 1/4s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>240,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>267,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Cricket Communications, Inc. 144A sr. notes 9 3/8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>335,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>353,425</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Digicel Group, Ltd. 144A sr. notes 8 7/8s, 2015 (Bermuda)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>160,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>156,200</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Digicel, Ltd. 144A sr. notes 9 1/4s, 2012 (Jamaica)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>165,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>175,725</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Dobson Cellular Systems sec. notes 9 7/8s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>160,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>174,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Dobson Communications Corp. sr. notes FRN 9.61s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>75,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>77,438</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Idearc Inc. 144A sr. notes 8s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>535,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>549,713</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Inmarsat Finance PLC company guaranty 7 5/8s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(United Kingdom)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>100,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>103,750</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Inmarsat Finance PLC company guaranty stepped-coupon</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>zero % (10 3/8s, 11/15/08), 2012 (United Kingdom) &#134;&#134;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>280,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>262,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Intelsat Bermuda, Ltd. 144A sr. notes 11 1/4s,</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2016 (Bermuda)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>385,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>436,013</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Intelsat Bermuda, Ltd. 144A sr. unsec. FRN 8.872s,</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2015 (Bermuda)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>70,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>71,663</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Intelsat Subsidiary Holding Co., Ltd.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>sr. notes 8 1/2s, 2013 (Bermuda)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>70,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>72,975</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>iPCS, Inc. sr. notes 11 1/2s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>70,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>77,350</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Level 3 Communications, Inc. sr. notes 11 1/2s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>195,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>216,450</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Level 3 Financing, Inc. company guaranty 12 1/4s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>100,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>116,750</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Level 3 Financing, Inc. 144A sr. notes 9 1/4s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>200,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>205,250</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Level 3 Financing, Inc. 144A sr. notes 8 3/4s, 2017</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>115,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>115,431</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>MetroPCS Wireless Inc. 144A sr. notes 9 1/4s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>255,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>267,750</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>PanAmSat Corp. company guaranty 9s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>335,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>361,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Qwest Communications International, Inc. company</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>guaranty 7 1/2s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>450,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>466,313</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Qwest Corp. debs. 7 1/4s, 2025</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>65,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>67,194</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Qwest Corp. notes 8 7/8s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>430,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>475,150</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Qwest Corp. sr. notes 7 5/8s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>150,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>160,125</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Qwest Corp. sr. unsec. notes 7 1/2s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>90,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>95,513</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Rogers Wireless, Inc. sec. notes 6 3/8s, 2014 (Canada)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>330,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>338,663</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Rural Cellular Corp. sr. notes 9 7/8s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>150,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>158,625</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Rural Cellular Corp. sr. sub. FRN 11.11s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>50,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>52,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Rural Cellular Corp. sr. sub. notes 9 3/4s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>70,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>71,838</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Syniverse Technologies, Inc. sr. sub. notes Ser. B, 7 3/4s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>345,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>346,725</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Time Warner Telecom, Inc. company guaranty 9 1/4s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>325,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>348,563</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Windstream Corp. company guaranty 8 5/8s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>295,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>323,025</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Windstream Corp. company guaranty 8 1/8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>155,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>167,206</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>7,813,186</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>31</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_33"></A>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>CORPORATE BONDS AND NOTES (39.8%)* </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Principal amount</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Consumer Cyclicals (7.6%)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>American Axle &amp; Manufacturing, Inc. company guaranty</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7 7/8s, 2017</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>160,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>160,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>American Media, Inc. company guaranty 8 7/8s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>75,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>68,250</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>American Media, Inc. company guaranty Ser. B, 10 1/4s, 2009</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>260,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>247,650</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Asbury Automotive Group, Inc. sr. sub. notes 8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>105,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>107,231</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Associated Materials, Inc. company guaranty 9 3/4s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>350,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>365,750</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Autonation, Inc. company guaranty 7s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>40,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>40,550</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Autonation, Inc. company guaranty FRN 7.374s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>60,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>60,900</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Boyd Gaming Corp. sr. sub. notes 7 3/4s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>25,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>25,750</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Boyd Gaming Corp. sr. sub. notes 7 1/8s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>210,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>206,325</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Boyd Gaming Corp. sr. sub. notes 6 3/4s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>290,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>288,550</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>CanWest Media, Inc. company guaranty 8s, 2012 (Canada)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>4,956</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>5,105</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Dex Media West, LLC/Dex Media Finance Co. sr. notes</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ser. B, 8 1/2s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>245,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>256,638</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Dex Media, Inc. disc. notes stepped-coupon zero %</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(9s, 11/15/08), 2013 &#134;&#134;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>100,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>92,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Dex Media, Inc. notes 8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>55,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>57,475</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>FelCor Lodging LP company guaranty 8 1/2s, 2008 (R)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>100,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>107,375</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Co. notes 7.45s, 2031</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>350,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>280,875</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Credit Corp. bonds 7 3/8s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>90,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>89,493</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Credit Corp. notes 7 7/8s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>545,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>554,388</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Credit Corp. notes 7 3/8s, 2009</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>105,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>105,788</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Credit Corp. sr. notes 9 7/8s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>550,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>592,813</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Credit Corp. 144A sr. unsec. notes 9 3/4s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>179,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>191,788</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>General Motors Corp. debs. 9.4s, 2021</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>45,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>45,113</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>General Motors Corp. notes 7.2s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>770,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>750,750</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Goodyear Tire &amp; Rubber Co. (The) notes 8 1/2s, 2007</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>60,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>60,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Goodyear Tire &amp; Rubber Co. (The) sr. notes 9s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>405,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>439,931</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Hanesbrands, Inc. 144A sr. notes FRN 8.735s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>285,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>291,413</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Harry &amp; David Holdings, Inc. company guaranty FRN</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>10.36s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>40,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>40,700</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Harry &amp; David Holdings, Inc. company guaranty 9s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>115,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>117,588</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Host Marriott LP sr. notes 7 1/8s, 2013 (R)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>120,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>122,400</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Host Marriott LP sr. notes Ser. M, 7s, 2012 (R)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>215,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>218,225</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>iPayment, Inc. company guaranty 9 3/4s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>75,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>76,875</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Jostens IH Corp. company guaranty 7 5/8s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>500,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>512,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>K. Hovnanian Enterprises, Inc. company guaranty</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>8 7/8s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>50,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>51,250</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>K. Hovnanian Enterprises, Inc. company guaranty</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7 3/4s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>50,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>49,875</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>KB Home sr. sub. notes 9 1/2s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,065</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Lamar Media Corp. company guaranty 7 1/4s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>130,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>131,950</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Lamar Media Corp. company guaranty Ser. B, 6 5/8s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>80,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>78,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Levi Strauss &amp; Co. sr. notes 9 3/4s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>253,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>278,300</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Levi Strauss &amp; Co. sr. notes 8 7/8s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>145,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>156,238</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Meritage Homes Corp. company guaranty 6 1/4s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>60,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>56,400</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>MGM Mirage, Inc. company guaranty 8 1/2s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>95,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>101,769</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>MGM Mirage, Inc. company guaranty 6s, 2009</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>280,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>279,650</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>MGM Mirage, Inc. sr. notes 6 3/4s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,995</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>32</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_34"></A>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>CORPORATE BONDS AND NOTES (39.8%)* </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Principal amount</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="97%" colSpan=5>
<HR noShade SIZE=1>
&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Consumer Cyclicals </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Michaels Stores, Inc. 144A sr. sub. notes 11 3/8s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>155,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>168,175</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Mirage Resorts, Inc. debs. 7 1/4s, 2017</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>25,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>24,875</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Movie Gallery, Inc. sr. unsecd. notes 11s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>70,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>62,650</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Neiman-Marcus Group, Inc. company guaranty 9s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>450,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>495,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>NTK Holdings, Inc. sr. disc. notes zero %, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>260,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>204,100</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Oxford Industries, Inc. sr. notes 8 7/8s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>100,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>104,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Park Place Entertainment Corp. sr. sub. notes 7 7/8s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>278,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>293,290</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Pinnacle Entertainment, Inc. sr. sub. notes 8 1/4s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>340,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>350,200</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>PRIMEDIA, Inc. company guaranty 8 7/8s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>70,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>71,925</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>PRIMEDIA, Inc. sr. notes 8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>260,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>267,150</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>R.H. Donnelley Corp. sr. disc. notes Ser. A-1, 6 7/8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>20,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>19,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>R.H. Donnelley Corp. sr. disc. notes Ser. A-2, 6 7/8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>145,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>141,375</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>R.H. Donnelley Corp. sr. notes 6 7/8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>85,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>82,875</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>R.H. Donnelley Corp. sr. notes Ser. A-3, 8 7/8s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>160,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>170,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Reader&#146;s Digest Association, Inc. (The) 144A sr. sub. notes</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9s, 2017</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>160,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>159,200</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Resorts International Hotel and Casino, Inc. company</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>guaranty 11 1/2s, 2009</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>328,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>342,760</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Scientific Games Corp. company guaranty 6 1/4s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>175,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>172,813</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Sealy Mattress Co. sr. sub. notes 8 1/4s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>260,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>274,300</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Standard Pacific Corp. sr. notes 7s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>115,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>110,400</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Standard Pacific Corp. sr. notes 6 1/2s, 2008</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>55,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>55,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Station Casinos, Inc. sr. notes 6s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>259,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>251,230</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Technical Olympic USA, Inc. company guaranty 9s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>145,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>142,825</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Tenneco Automotive, Inc. company guaranty 8 5/8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>150,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>156,375</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Texas Industries, Inc. sr. unsecd. notes 7 1/4s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>310,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>316,200</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>THL Buildco, Inc. (Nortek Holdings, Inc.) sr. sub. notes</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>8 1/2s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>300,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>305,250</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Trump Entertainment Resorts, Inc. sec. notes 8 1/2s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>345,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>345,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>TRW Automotive, Inc. sr. notes 9 3/8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>270,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>289,913</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>TRW Automotive, Inc. sr. sub. notes 11s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>160,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>175,400</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>UCI Holdco, Inc. 144A sr. notes 12.37s, 2013 &#135;&#135;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>200,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>204,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>United Auto Group, Inc. 144A sr. sub. notes 7 3/4s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>180,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>183,150</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Vertis, Inc. company guaranty Ser. B, 10 7/8s, 2009</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>446,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>454,920</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Vertis, Inc. 144A sub. notes 13 1/2s, 2009</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>130,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>123,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Wimar Opco, LLC. 144A sr. sub. notes 9 5/8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>525,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>528,281</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Wynn Las Vegas, LLC/Wynn Las Vegas Capital Corp.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1st mtge. 6 5/8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>365,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>361,350</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Yankee Acquisition Corp. 144A sr. notes 8 1/2s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>80,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>81,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Yankee Acquisition Corp. 144A sr. sub. notes 9 3/4s, 2017</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>40,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>41,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>15,300,063</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="97%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="97%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Consumer Staples (6.7%)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Adelphia Communications zero %, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>20,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>5,950</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Adelphia Communications zero %, 2008</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>235,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>70,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Affinion Group, Inc. company guaranty 11 1/2s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>135,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>146,475</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Affinion Group, Inc. company guaranty 10 1/8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>335,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>361,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Affinity Group, Inc. sr. sub. notes 9s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>360,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>367,200</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>AMC Entertainment, Inc. company guaranty 11s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>217,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>246,566</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>33</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_35"></A>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>CORPORATE BONDS AND NOTES (39.8%)* </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Principal amount</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Consumer Staples </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>AMC Entertainment, Inc. sr. sub. notes 8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>117,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>119,925</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Atlantic Broadband Finance, LLC company guaranty</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9 3/8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>285,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>292,125</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Avis Budget Car Rental, LLC 144A sr. notes 7 3/4s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>150,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>152,250</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Avis Budget Car Rental, LLC 144A sr. notes 7 5/8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>100,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>101,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Buffets, Inc. company guaranty 12 1/2s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>375,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>393,750</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Cablevision Systems Corp. sr. notes Ser. B, 8s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>100,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>101,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>CCH I, LLC/Capital Corp. sec. notes 11s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>692,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>719,680</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>CCH II, LLC/Capital Corp. sr. notes Ser. B, 10 1/4s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>430,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>451,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>CCH, LLC/Capital Corp. sr. notes 10 1/4s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>280,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>294,700</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Chiquita Brands International, Inc. sr. notes 8 7/8s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>30,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>28,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Chiquita Brands International, Inc. sr. notes 7 1/2s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>380,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>343,900</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Church &amp; Dwight Co., Inc. company guaranty 6s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>130,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>127,075</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Cinemark USA, Inc. sr. sub. notes 9s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>55,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>58,438</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Cinemark, Inc. sr. disc. notes stepped-coupon zero %</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(9 3/4s, 3/15/09), 2014 &#134;&#134;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>325,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>291,688</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Constellation Brands, Inc. company guaranty Ser. B, 8s, 2008</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>115,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>117,013</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Constellation Brands, Inc. sr. sub. notes Ser. B, 8 1/8s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>10,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>10,400</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>CSC Holdings, Inc. debs. Ser. B, 8 1/8s, 2009</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>3,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>3,105</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>CSC Holdings, Inc. sr. notes Ser. B, 7 5/8s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>255,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>262,013</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>CSC Holdings, Inc. 144A sr. notes 6 3/4s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>205,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>202,950</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Dean Foods Co. company guaranty 7s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>240,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>247,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Del Monte Corp. company guaranty 6 3/4s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>105,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>103,425</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Del Monte Corp. sr. sub. notes 8 5/8s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>270,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>283,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>DirecTV Holdings, LLC company guaranty 6 3/8s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>375,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>360,469</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Domino&#146;s, Inc. sr. sub. notes 8 1/4s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>106,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>111,141</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Echostar DBS Corp. company guaranty 7s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>155,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>159,263</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Echostar DBS Corp. company guaranty 6 5/8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>30,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>30,300</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Echostar DBS Corp. sr. notes 6 3/8s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>430,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>432,150</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Elizabeth Arden, Inc. company guaranty 7 3/4s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>155,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>158,875</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Hertz Corp. company guaranty 8 7/8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>185,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>199,338</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Intelsat Intermediate Holding Co., Ltd. company guaranty</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>stepped-coupon zero % (9 1/4s, 2/1/10), 2015 (Bermuda) &#134;&#134;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>70,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>57,925</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ion Media Networks, Inc. 144A sec. FRN 11.61s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>95,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>99,275</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ion Media Networks, Inc. 144A sec. FRN 8.61s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>120,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>122,100</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Jarden Corp. company guaranty 7 1/2s, 2017</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>155,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>157,131</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>LIN Television Corp. company guaranty Ser. B, 6 1/2s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>315,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>307,125</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Marquee Holdings, Inc. sr. disc.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>notes stepped-coupon zero % (12s, 8/15/09), 2014 &#134;&#134;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>185,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>162,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Nutro Products, Inc. 144A sr. notes FRN 9.4s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>340,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>353,175</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Pathmark Stores, Inc. company guaranty 8 3/4s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>335,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>344,631</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Pilgrim&#146;s Pride Corp. sr. unsec 7 5/8s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>356,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>352,440</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Pinnacle Foods Holding Corp. sr. sub. notes 8 1/4s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>375,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>403,125</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Playtex Products, Inc. sec. notes 8s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>480,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>501,600</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Prestige Brands, Inc. sr. sub. notes 9 1/4s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>457,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>472,995</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Rainbow National Services, LLC 144A sr. notes 8 3/4s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>205,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>217,813</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Rainbow National Services, LLC 144A sr. sub. debs.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>10 3/8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>75,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>84,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Rental Services Corp. 144A bonds 9 1/2s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>115,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>122,475</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>34</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_36"></A>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>CORPORATE BONDS AND NOTES (39.8%)* </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Principal amount</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="97%" colSpan=5>
<HR noShade SIZE=1>
&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Consumer Staples </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Rite Aid Corp. company guaranty 7 1/2s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>105,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>104,475</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Rite Aid Corp. sec. notes 8 1/8s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>115,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>118,019</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Sirius Satellite Radio, Inc. sr. unsecd. notes 9 5/8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>180,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>181,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Spectrum Brands, Inc. company guaranty 7 3/8s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>350,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>297,938</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Spectrum Brands, Inc. sr. sub. notes 8 1/2s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>90,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>82,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Swift &amp; Co. company guaranty 10 1/8s, 2009</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>245,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>251,738</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Swift &amp; Co. sr. sub. notes 12 1/2s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>165,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>172,838</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>United Rentals NA, Inc. company guaranty 6 1/2s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>100,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>100,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>United Rentals NA, Inc. sr. sub. notes 7s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>345,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>346,725</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Universal City Florida Holding Co. sr. notes 8 3/8s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>290,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>300,875</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Universal City Florida Holding Co. sr. notes FRN 10.11s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>107,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>110,745</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Young Broadcasting, Inc. company guaranty 10s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>264,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>262,020</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Young Broadcasting, Inc. sr. sub. notes 8 3/4s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>70,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>65,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>13,511,647</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="97%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="97%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Energy (3.7%)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Arch Western Finance, LLC sr. notes 6 3/4s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>445,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>437,213</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Bluewater Finance, Ltd. company guaranty 10 1/4s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(Cayman Islands)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>76,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>79,230</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Chaparral Energy, Inc. 144A sr. notes 8 7/8s, 2017</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>160,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>163,200</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>CHC Helicopter Corp. sr. sub. notes 7 3/8s, 2014 (Canada)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>240,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>235,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Chesapeake Energy Corp. company guaranty 7 3/4s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>60,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>62,550</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Chesapeake Energy Corp. sr. notes 7 1/2s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>190,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>198,075</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Chesapeake Energy Corp. sr. notes 7s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>250,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>256,875</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Complete Production Services, Inc. 144A sr. notes 8s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>270,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>276,075</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Compton Petroleum Corp. company guaranty 7 5/8s,</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2013 (Canada)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>395,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>387,100</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Comstock Resources, Inc. sr. notes 6 7/8s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>120,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>116,100</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Denbury Resources, Inc. sr. sub. notes 7 1/2s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>100,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>101,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Dresser-Rand Group, Inc. company guaranty 7 3/8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>27,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>27,405</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Encore Acquisition Co. sr. sub. notes 6 1/4s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>60,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>55,350</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Encore Acquisition Co. sr. sub. notes 6s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>213,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>190,635</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>EXCO Resources, Inc. company guaranty 7 1/4s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>235,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>237,938</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Forest Oil Corp. sr. notes 8s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>135,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>140,738</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Hanover Compressor Co. sr. notes 9s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>90,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>97,650</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Hanover Equipment Trust sec. notes Ser. B, 8 3/4s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>40,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>41,600</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Harvest Operations Corp. sr. notes 7 7/8s, 2011 (Canada)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>365,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>352,225</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Hilcorp Energy I LP/Hilcorp Finance Co. 144A sr. notes</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>320,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>340,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Inergy LP/Inergy Finance Corp. sr. notes 6 7/8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>485,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>477,725</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Massey Energy Co. sr. notes 6 5/8s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>385,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>389,813</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Newfield Exploration Co. sr. notes 7 5/8s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>150,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>158,063</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Newfield Exploration Co. sr. sub. notes 6 5/8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>210,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>208,425</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Pacific Energy Partners/Pacific Energy Finance Corp.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>sr. notes 7 1/8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>95,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>99,614</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Peabody Energy Corp. company guaranty 7 3/8s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>95,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>99,275</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Peabody Energy Corp. sr. notes 5 7/8s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>180,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>171,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>PetroHawk Energy Corp. company guaranty 9 1/8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>440,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>467,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Pogo Producing Co. sr. sub. notes 7 7/8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>95,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>96,188</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>35</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_37"></A>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>CORPORATE BONDS AND NOTES (39.8%)* </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Principal amount</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Energy </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Pogo Producing Co. sr. sub. notes 6 7/8s, 2017</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>185,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>180,375</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Pride International, Inc. sr. notes 7 3/8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>210,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>215,250</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Stallion Oilfield Services/Stallion Oilfield</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Finance Corp. 144A sr. unsec 9 3/4s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>200,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>209,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Targa Resources, Inc. 144A company guaranty 8 1/2s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>410,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>416,150</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Whiting Petroleum Corp. company guaranty 7s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>575,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>567,813</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>7,553,750</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="98%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Financial (1.2%)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Crescent Real Estate Equities LP notes 7 1/2s, 2007 (R)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>60,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>60,300</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>E*Trade Financial Corp. sr. unsec. notes 8s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>230,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>240,925</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Finova Group, Inc. notes 7 1/2s, 2009</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>210,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>61,950</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>General Motors Acceptance Corp. notes 7 3/4s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>555,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>573,325</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>General Motors Acceptance Corp. notes 7s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>75,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>76,227</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>General Motors Acceptance Corp. notes 6 7/8s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>520,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>523,963</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>General Motors Acceptance Corp. notes 6 3/4s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>570,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>568,474</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>General Motors Acceptance Corp. notes 5 1/8s, 2008</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>135,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>133,285</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>General Motors Acceptance Corp. sr. unsub. notes</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>5.85s, 2009</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>270,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>267,843</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2,506,292</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="98%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Health Care (2.7%)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Accellent, Inc. company guaranty 10 1/2s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>320,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>332,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>AMR Holding Co., Inc./EmCare Holding Co., Inc.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>sr. sub. notes 10s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>320,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>352,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Community Health Systems, Inc.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>sr. sub. notes 6 1/2s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>123,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>123,615</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>DaVita, Inc. company guaranty 6 5/8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>285,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>284,288</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>HCA, Inc. notes 6 3/8s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>65,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>56,063</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>HCA, Inc. sr. notes 6.95s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>70,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>67,200</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>HCA, Inc. 144A sec. notes 9 1/4s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>600,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>642,750</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>HCA, Inc. 144A sec. sr. notes 9 5/8s, 2016 &#135;&#135;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>285,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>307,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Health Management Associates, Inc. sr. notes 6 1/8s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>365,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>358,120</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>MedQuest, Inc. company guaranty Ser. B, 11 7/8s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>321,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>295,320</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Omnicare, Inc. sr. sub. notes 6 7/8s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>50,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>49,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Omnicare, Inc. sr. sub. notes 6 1/8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>155,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>149,381</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Psychiatric Solutions, Inc. company guaranty 7 3/4s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>360,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>365,400</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Select Medical Corp. company guaranty 7 5/8s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>395,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>347,600</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Service Corporation International sr. notes 7s, 2017</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>65,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>65,650</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Service Corporation International sr. notes 6 3/4s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>180,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>179,550</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Stewart Enterprises, Inc. sr. notes 6 1/4s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>340,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>328,100</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Tenet Healthcare Corp. notes 7 3/8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>265,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>247,775</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Tenet Healthcare Corp. sr. notes 9 7/8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>130,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>132,275</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Universal Hospital Services, Inc. sr. notes 10 1/8s,</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2011 (Canada)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>100,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>106,250</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>US Oncology, Inc. company guaranty 9s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>160,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>169,200</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Vanguard Health Holding Co. II, LLC sr. sub. notes 9s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>210,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>215,775</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ventas Realty LP/Capital Corp. company guaranty</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9s, 2012 (R)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>65,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>73,044</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>36</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_38"></A>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>CORPORATE BONDS AND NOTES (39.8%)* </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Principal amount</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Health Care </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ventas Realty LP/Capital Corp. company guaranty</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6 3/4s, 2010 (R)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>75,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>76,594</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ventas Realty LP/Capital Corp. sr. notes 6 5/8s, 2014 (R)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>50,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>50,813</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ventas Realty LP/Capital Corp. sr. notes 6 1/2s, 2016 (R)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>80,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>80,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>5,457,663</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="98%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Technology (2.9%)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Activant Solutions, Inc. company guaranty 9 1/2s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>280,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>275,100</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Advanced Micro Devices, Inc. sr. notes 7 3/4s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>73,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>75,190</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Amkor Technologies, Inc. sr. notes 7 3/4s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>289,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>280,330</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Avago Technologies Finance company guaranty 10 1/8s,</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2013 (Singapore)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>120,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>128,400</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Celestica, Inc. sr. sub. notes 7 7/8s, 2011 (Canada)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>85,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>83,513</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Celestica, Inc. sr. sub. notes 7 5/8s, 2013 (Canada)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>280,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>266,700</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Compucom Systems, Inc. 144A sr. notes 12s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>165,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>172,838</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Freescale Semiconductor, Inc. 144A sr. notes 9 1/8s, 2014 &#135;&#135;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>220,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>223,025</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Freescale Semiconductor, Inc. 144A sr. notes 8 7/8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>510,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>517,013</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Freescale Semiconductor, Inc. 144A sr. sub. notes</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>10 1/8s, 2016 (S)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>335,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>342,956</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Iron Mountain, Inc. company guaranty 8 3/4s, 2018</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>70,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>74,725</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Iron Mountain, Inc. company guaranty 8 5/8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>355,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>364,763</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Iron Mountain, Inc. company guaranty 6 5/8s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>45,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>43,200</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Lucent Technologies, Inc. debs. 6.45s, 2029</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>355,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>323,050</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Lucent Technologies, Inc. notes 5 1/2s, 2008</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>50,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>49,625</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>New ASAT Finance, Ltd. company guaranty 9 1/4s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(Cayman Islands)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>90,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>84,600</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Nortel Networks, Ltd. 144A company guaranty 10 3/4s,</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2016 (Canada)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>165,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>183,975</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Nortel Networks, Ltd. 144A company guaranty FRN</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9.61s, 2011 (Canada)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>180,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>192,600</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>NXP BV/NXP Funding, LLC 144A sec. FRN 8.11s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(Netherlands)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>170,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>173,825</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>NXP BV/NXP Funding, LLC 144A sec. notes 7 7/8s,</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2014 (Netherlands)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>275,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>283,938</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Open Solutions, Inc. 144A sr. sub. notes 9 3/4s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>290,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>299,425</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>SunGard Data Systems, Inc. company guaranty 10 1/4s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>278,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>302,325</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>SunGard Data Systems, Inc. company guaranty 9 1/8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>506,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>540,155</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>UGS Capital Corp. II 144A sr. notes 10.348s, 2011 &#135;&#135;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>84,036</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>85,507</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>UGS Corp. company guaranty 10s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>240,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>262,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Xerox Capital Trust I company guaranty 8s, 2027 (S)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>100,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>102,125</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Xerox Corp. company guaranty 9 3/4s, 2009</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>3,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>3,227</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Xerox Corp. sr. notes 7 5/8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>41,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>44,492</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Xerox Corp. sr. notes 6 7/8s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>120,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>127,064</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Xerox Corp. unsec. sr. notes 6 3/4s, 2017</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>55,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>58,140</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>5,964,626</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>37</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_39"></A>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>CORPORATE BONDS AND NOTES (39.8%)* </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Principal amount</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Transportation (0.3%)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>CalAir, LLC/CalAir Capital Corp. company guaranty</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>8 1/8s, 2008</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>230,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>229,713</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Kansas City Southern Railway Co. company guaranty</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9 1/2s, 2008</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>275,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>287,719</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>517,432</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="98%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Utilities &amp; Power (2.7%)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>AES Corp. (The) sr. notes 8 7/8s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>22,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>23,595</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>AES Corp. (The) 144A sec. notes 9s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>175,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>187,469</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>AES Corp. (The) 144A sec. notes 8 3/4s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>240,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>256,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>CMS Energy Corp. sr. notes 8.9s, 2008</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>60,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>62,250</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>CMS Energy Corp. sr. notes 8 1/2s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>70,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>75,950</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>CMS Energy Corp. sr. notes 7 3/4s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>40,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>42,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Colorado Interstate Gas Co. debs. 6.85s, 2037</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>95,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>102,816</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Colorado Interstate Gas Co. sr. notes 5.95s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>30,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>30,377</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Dynegy-Roseton Danskamme company guaranty Ser. A,</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7.27s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>90,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>91,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Dynegy-Roseton Danskamme company guaranty Ser. B,</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7.67s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>125,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>132,813</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Edison Mission Energy sr. unsec. notes 7 3/4s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>75,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>79,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Edison Mission Energy sr. unsec. notes 7 1/2s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>90,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>94,050</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>El Paso Corp. sr. notes 8.05s, 2030</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>115,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>128,800</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>El Paso Corp. sr. notes 7 3/8s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>75,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>79,875</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>El Paso Corp. sr. notes Ser. MTN, 7.8s, 2031</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>85,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>92,756</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>El Paso Natural Gas Co. debs. 8 5/8s, 2022</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>40,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>49,455</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>El Paso Production Holding Co. company guaranty</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7 3/4s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>360,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>376,200</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ferrellgas LP/Finance sr. notes 8 3/4s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>280,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>291,200</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ferrellgas LP/Finance sr. notes 6 3/4s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>155,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>151,900</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Midwest Generation, LLC sec. sr. notes 8 3/4s, 2034</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>280,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>301,700</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Mirant Americas Generation, Inc. sr. notes 8.3s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>170,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>174,250</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Mirant North America, LLC company guaranty 7 3/8s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>230,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>236,325</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Mission Energy Holding Co. sec. notes 13 1/2s, 2008</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>155,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>169,144</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Nevada Power Co. 2nd mtge. 9s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>62,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>67,052</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>NRG Energy, Inc. company guaranty 7 3/8s, 2017</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>100,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>101,750</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>NRG Energy, Inc. sr. notes 7 3/8s, 2016</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>720,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>734,400</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Orion Power Holdings, Inc. sr. notes 12s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>125,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>145,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>SEMCO Energy, Inc. sr. notes 7 3/4s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>110,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>112,403</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>SEMCO Energy, Inc. 144A sr. notes 7 3/4s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>145,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>147,900</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Sierra Pacific Power Co. general ref. mtge. 6 1/4s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>35,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>36,163</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Sierra Pacific Resources sr. notes 8 5/8s, 2014</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>165,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>178,685</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Southern Union Co. jr. sub. FRB 7.2s, 2066</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>220,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>220,623</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Teco Energy, Inc. notes 7.2s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>35,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>37,100</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Teco Energy, Inc. notes 7s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>60,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>63,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Teco Energy, Inc. sr. notes 6 3/4s, 2015</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>10,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>10,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Tennessee Gas Pipeline Co. debs. 7s, 2028</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>15,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>16,415</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Tennessee Gas Pipeline Co. unsec. notes 7 1/2s, 2017</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>40,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>44,961</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>38</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_40"></A>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>CORPORATE BONDS AND NOTES (39.8%)* </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Principal amount</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Utilities &amp; Power </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Transcontinental Gas Pipeline Corp. debs. 7 1/4s, 2026</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>150,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>164,438</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Utilicorp United, Inc. sr. notes 9.95s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>5,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>5,475</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Williams Cos., Inc. (The) notes 8 3/4s, 2032</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>30,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>34,350</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Williams Cos., Inc. (The) notes 8 1/8s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>35,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>37,975</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Williams Cos., Inc. (The) 144A notes 6 3/8s, 2010</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>65,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>65,894</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Williams Partners LP/ Williams Partners Finance Corp.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>144A bonds 7 1/4s, 2017</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>75,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>78,750</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>5,533,859</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="98%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Total corporate bonds and notes (cost $78,408,489)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>80,456,906</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5></TD></TR>
<TR>
     <TD width="98%" colSpan=5>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>CONVERTIBLE BONDS AND NOTES (14.3%)*</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Principal amount</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Capital Goods (1.2%)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>DRS Technologies, Inc. 144A cv. unsec. notes 2s, 2026</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>365,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>389,638</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>GenCorp, Inc. cv. sub. notes 5 3/4s, 2007</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,030,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,085,825</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2,475,463</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="98%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Communication Services (0.4%)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Charter Communications, Inc. cv. sr. notes 5 7/8s, 2009</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>500,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>711,250</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Charter Communications, Inc. 144A cv. sr. notes 5 7/8s, 2009</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>130,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>184,925</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>896,175</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="98%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Consumer Cyclicals (2.7%)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Fleetwood Enterprises, Inc. cv. sr. sub. notes 5s, 2023</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,700,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,816,875</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Pier 1 Imports, Inc. 144A cv. sr. unsub. notes stepped-coupon</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6 3/8s (6 1/8s, 2/15/11) 2036 &#134;&#134;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,541,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,467,803</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Rewards Network, Inc. cv. sub. debs. 3 1/4s, 2023</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,300,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,202,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>WCI Communities, Inc. cv. sr. sub. notes 4s, 2023</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>900,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>896,625</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>5,383,803</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="98%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Consumer Staples (2.5%)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Nash Finch Co. cv. sr. sub. notes stepped-coupon</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1.631s (zero %, 3/15/13) 2035 &#134;&#134;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6,170,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,629,963</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Sinclair Broadcast Group, Inc. cv. bonds 6s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,055,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,001,056</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Sinclair Broadcast Group, Inc. cv. sr. sub. notes</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>stepped-coupon 4 7/8s (2s, 1/15/11) 2018 &#134;&#134;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>420,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>406,350</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>5,037,369</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="98%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Energy (0.4%)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>McMoRan Exploration Co. cv. sr. notes 6s, 2008</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>690,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>771,938</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="98%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Health Care (1.1%)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>CV Therapeutics, Inc. cv. sub. notes 3 1/4s, 2013</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,300,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,131,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>EPIX Medical, Inc. cv. sr. notes 3s, 2024</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,253,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,054,086</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="59%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2,185,086</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>39</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_41"></A>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>CONVERTIBLE BONDS AND NOTES (14.3%)* </FONT><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Principal amount</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="97%" colSpan=5>
<HR noShade SIZE=1>
&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Technology (4.5%)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Acquicor Technology, Inc. 144A cv. notes 8s, 2011</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>532,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>555,940</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Agere Systems, Inc. cv. sub. notes 6 1/2s, 2009</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>980,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,003,275</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Fairchild Semiconductor International, Inc. cv. company</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>guaranty 5s, 2008</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>980,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>968,975</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Kulicke &amp; Soffa Industries, Inc. cv. sub. notes 1/2s, 2008</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,050,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,862,938</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Lucent Technologies, Inc. cv. sr. debs. Ser. B, 2 3/4s, 2025</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>450,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>487,125</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Mentor Graphics Corp. cv. sub. notes FRN 7.01s, 2023</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,700,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,729,240</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Safeguard Scientifics, Inc. cv. sr. notes 2 5/8s, 2024</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>200,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>164,500</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Safeguard Scientifics, Inc. 144A cv. sr. notes 2 5/8s, 2024</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,800,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,303,000</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>9,074,993</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="97%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="97%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Transportation (0.8%)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>JetBlue Airways Corp. cv. sr. bonds 3 1/2s, 2033</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,750,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>1,684,375</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="97%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="97%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Utilities &amp; Power (0.7%)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>XCEL Energy, Inc. 144A cv. notes 7 1/2s, 2007</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>720,000</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>1,384,200</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="97%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="97%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Total convertible bonds and notes (cost $26,516,131)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>28,893,402</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="97%" colSpan=5></TD></TR>
<TR>
     <TD width="97%" colSpan=5>&nbsp; </TD></TR>
<TR>
     <TD width="97%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>UNITS (1.5%)*</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Units</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="97%" colSpan=5>
<HR noShade SIZE=1>
&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Elf Special Financing, Ltd. 144A cv. units FRN Ser. B, 5.71s,</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2009 (Cayman Islands)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>10</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,237,100</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Hercules, Inc. cv. units 6.50%, 2029</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,020</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,757,400</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="97%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Total units (cost $2,614,009)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2,994,500</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="97%" colSpan=5></TD></TR>
<TR>
     <TD width="97%" colSpan=5>&nbsp; </TD></TR>
<TR>
     <TD width="97%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>COMMON STOCKS (1.0%)*</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Shares</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="97%" colSpan=5>
<HR noShade SIZE=1>
&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Adelphia Contingent Value Vehicle &#134;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>248,982</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>20,840</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Bohai Bay Litigation, LLC (Units) (F)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>406</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>5,747</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Contifinancial Corp. Liquidating Trust Units (F)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>574,207</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>57</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Hanover Compressor Co. &#134;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>51,146</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,122,655</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Jarden Corp. &#134;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>3,570</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>130,769</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Playtex Products, Inc. &#134;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>3,205</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>43,941</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Pride International, Inc. &#134;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>4,547</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>130,954</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Samsonite Corp.</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>155,734</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>155,734</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Time Warner Cable, Inc. Class A &#134;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>3,771</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>146,126</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>WHX Corp. &#134;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>3,863</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>34,767</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Williams Cos., Inc. (The)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6,420</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>173,147</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>XCL Warranty Escrow (F)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="17%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>406</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>57,972</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="97%" colSpan=5>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="58%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Total common stocks (cost $2,106,878)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="17%">&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>2,022,709</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>40</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_42"></A>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="64%" colSpan=3><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>FOREIGN GOVERNMENT BONDS AND NOTES (0.1%)* (cost $156,553)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="18%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="40%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=right width="12%"></TD>
     <TD noWrap align=right width="18%" background=""><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Principal amount</FONT>&nbsp;</TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="99%" background="" colSpan=6>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="40%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Argentina (Republic of ) FRB 5.475s, 2012</FONT>&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>168,750</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>159,773</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=6>
<HR noShade SIZE=1>
</TD></TR>
<TR>
     <TD width="99%" colSpan=6>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="40%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>PREFERRED STOCKS (&#151;%)* (cost $31,174)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=left width="18%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=6>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="40%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Shares</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="52%" colSpan=2><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Rural Cellular Corp. Ser. B, 11.375% cum. pfd.</FONT>&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>43</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>53,750</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=6></TD></TR>
<TR>
     <TD width="99%" colSpan=6>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="40%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>WARRANTS (&#151;%)* &#134;</FONT>&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=left width="18%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="40%">&nbsp; </TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Expiration</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Strike</FONT>&nbsp; </TD>
     <TD noWrap align=left width="18%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="40%">&nbsp; </TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>date</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>price</FONT>&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Warrants</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="99%" background="" colSpan=6>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="40%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Dayton Superior Corp. 144A (F)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6/15/09</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$ 0.01</FONT>&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>270</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>3,945</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="40%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>MDP Acquisitions PLC 144A (Ireland)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>10/1/13</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>EUR 0.001</FONT>&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>119</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>3,332</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="40%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ubiquitel, Inc. 144A</FONT>&nbsp; </TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>4/15/10</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$22.74</FONT>&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>420</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>4</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=6>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="40%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Total warrants (cost $28,984)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=left width="18%">&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>7,281</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=6></TD></TR>
<TR>
     <TD width="99%" colSpan=6>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="40%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>SHORT-TERM INVESTMENTS (4.3%)*</FONT>&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=left width="18%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="40%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=right width="12%"></TD>
     <TD noWrap align=right width="18%" background=""><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Principal amount/shares</FONT>&nbsp;</TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="99%" background="" colSpan=6>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="40%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Putnam Prime Money Market Fund (e)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6,550,431</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6,550,431</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="52%" colSpan=2><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Short-term investments held as collateral for loaned</FONT>&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=left width="18%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="52%" colSpan=2><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>securities with yields ranging from 5.29% to 5.46%</FONT>&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=left width="18%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="52%" colSpan=2><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>and due dates ranging from March 1, 2007 to</FONT>&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=left width="18%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="40%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>April 29, 2007 (d)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="18%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,185,889</FONT>&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,181,810</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=6>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="52%" colSpan=2><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Total short-term investments (cost $8,732,241)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=left width="18%">&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>8,732,241</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=6></TD></TR>
<TR>
     <TD width="99%" colSpan=6>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="40%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>TOTAL INVESTMENTS</FONT>&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=left width="18%">&nbsp; </TD>
     <TD noWrap align=right width="5%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="99%" background="" colSpan=6>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="40%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Total investments (cost $191,129,865)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=left width="12%">&nbsp; </TD>
     <TD noWrap align=left width="18%">&nbsp; </TD>
     <TD noWrap align=right width="5%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$</FONT>&nbsp; </TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>204,175,451</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>* Percentages indicated are based on net assets of $201,954,385. </FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>&#134; Non-income-producing security.</FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>&#134;</FONT></I><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>&#134;</FONT></I> The interest rate and date shown parenthetically represent the new interest rate to be paid and the date the fund will begin accruing interest at this rate.</FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>&#135; Restricted, excluding 144A securities, as to public resale. The total market value of restricted securities held at February 28, 2007 was $166,400 or 0.1% of net assets.</FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>&#135;&#135; Income may be received in cash or additional securities at the discretion of the issuer. </FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>(d) See Note 1 to the financial statements.</FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>(e) See Note 5 to the financial statements regarding investments in Putnam Prime Money Market Fund. </FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>(F) Security is valued at fair value following procedures approved by the Trustees.</FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>(R) Real Estate Investment Trust.</FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>(S) Securities on loan, in part or in entirety, at February 28, 2007.</FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>At February 28, 2007, liquid assets totaling $2,792,160 have been designated as collateral for open swap contracts and forward contracts.</FONT></I></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>41</FONT></P>
<HR align=center width="100%" noShade SIZE=2>


<A name="page_43"></A>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>144A after the name of an issuer represents securities exempt from registration under Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.</FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>The rates shown on Floating Rate Bonds (FRB) and Floating Rate Notes (FRN) are the current interest rates at February 28, 2007. </FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>The dates shown on debt obligations are the original maturity dates.</FONT></I></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="99%" colSpan=6><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>FORWARD CURRENCY CONTRACTS TO BUY at 2/28/07 (aggregate face value $546,699) (Unaudited)</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="19%">&nbsp;</TD>
     <TD noWrap align=left width="29%">&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Aggregate</FONT>&nbsp;</TD>
     <TD noWrap align=left width="12%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Delivery</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Unrealized</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="19%">&nbsp;</TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>face value</FONT>&nbsp;</TD>
     <TD noWrap align=left width="12%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>date</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>appreciation</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="99%" colSpan=6>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="19%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Euro</FONT>&nbsp;</TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$553,328</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$546,699</FONT>&nbsp;</TD>
     <TD noWrap align=left width="12%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>3/22/07</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$6,629</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="99%" colSpan=6></TD></TR>
<TR>
     <TD width="99%" colSpan=6>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="99%" colSpan=6><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>FORWARD CURRENCY CONTRACTS TO SELL at 2/28/07 (aggregate face value $2,813,612) (Unaudited)</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="99%" colSpan=6>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="19%">&nbsp;</TD>
     <TD noWrap align=left width="29%">&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Aggregate</FONT>&nbsp;</TD>
     <TD noWrap align=left width="12%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Delivery</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Unrealized</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="19%">&nbsp;</TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Value</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>face value</FONT>&nbsp;</TD>
     <TD noWrap align=left width="12%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>date</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>appreciation</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="19%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Euro</FONT>&nbsp;</TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$2,781,070</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$2,813,612</FONT>&nbsp;</TD>
     <TD noWrap align=left width="12%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>3/22/07</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$32,542</FONT>&nbsp;</TD></TR></TABLE><BR>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="72%" colSpan=5><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>CREDIT DEFAULT CONTRACTS OUTSTANDING at 2/28/07 (Unaudited)</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD></TR>
<TR>
     <TD width="97%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%">&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Upfront</FONT>&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=left width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Fixed payments</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Unrealized</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Swap counterparty /</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>premium</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Notional</FONT>&nbsp;</TD>
     <TD noWrap align=left width="9%" background="">&nbsp;</TD>
     <TD noWrap align=left width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Termination</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>received (paid) by&nbsp;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%" background=""><FONT face=PGTable-Light,Arial,Helvetica,><FONT size=1>&nbsp;appreciation/</FONT></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Referenced debt*</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>received**</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>amount</FONT>&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>date</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>fund per annum</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(depreciation)</FONT>&nbsp;</TD></TR>
<TR>
     <TD noWrap align=left width="97%" background="" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Bank of America, N.A.</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>DJ CDX NA HY</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Series 7 Index</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$20,250</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$450,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>12/20/11</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(325 bp)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$ 4,790</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="97%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Citibank, N.A.</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Co., 7.45%,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7/16/31</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>80,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6/20/07</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>620 bp</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,332</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="97%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Visteon Corp., 7%,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>3/10/14</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>100,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6/20/09</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>605 bp</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7,529</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="97%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="40%" colSpan=2><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Credit Suisse First Boston International</FONT>&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Co., 7.45%,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7/16/31</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>175,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9/20/07</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(487.5 bp)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(4,729)</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="97%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Co., 7.45%,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7/16/31</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>210,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9/20/08</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>725 bp</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>18,923</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="97%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Co., 7.45%,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7/16/31</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>35,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9/20/07</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(485 bp)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(939)</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="97%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Deutsche Bank AG</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Co., 7.45%,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7/16/31</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>112,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6/20/07</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>595 bp</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,903</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="97%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Visteon Corp., 7%,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>3/10/14</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>100,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6/20/09</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>535 bp</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>4,611</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="97%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Goldman Sachs Capital Markets, L.P.</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Co., 7.45%,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7/16/31</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>80,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6/20/07</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>630 bp</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,252</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="97%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Goldman Sachs International</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Any one of the</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>underlying securities</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>in the basket of BB</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>CMBS securities</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>108,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(a)</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2.461%</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9,117</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="97%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>General Motors Corp.,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=left width="14%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="26%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7 1/8%, 7/15/13</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>175,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="9%" background=""></TD>
     <TD noWrap align=left width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9/20/08</FONT>&nbsp;</TD>
     <TD noWrap align=left width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>620 bp</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>13,223</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="97%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>42</FONT></P>
<HR align=center width="100%" noShade SIZE=2>


<A name="page_44"></A>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="88%" colSpan=6><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>CREDIT DEFAULT CONTRACTS OUTSTANDING at 2/28/07 (Unaudited)</FONT> <I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%">&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Upfront</FONT>&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Fixed payments</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Unrealized</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Swap counterparty /</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>premium</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Notional</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Termination</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>received (paid) by&nbsp;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%" background=""><FONT face=PGTable-Light,Arial,Helvetica,><FONT size=1>&nbsp;appreciation/</FONT></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Referenced debt*</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>received**</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>amount</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background="">&nbsp;</TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>date</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>fund per annum</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(depreciation)</FONT>&nbsp;</TD></TR>
<TR>
     <TD noWrap align=left width="100%" background="" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="42%" colSpan=2><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Goldman Sachs International</FONT> <I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>continued</FONT></I>&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>General Motors Corp.,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7 1/8%, 7/15/13</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$ &#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$175,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9/20/07</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(427.5 bp)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$ (4,621)</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="100%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>General Motors Corp.,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7 1/8%, 7/15/13</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>35,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9/20/07</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(425 bp)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(917)</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="100%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>General Motors Corp.,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7 1/8%, 7/15/13</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>35,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9/20/08</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>620 bp</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,639</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="100%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>L-3 Communications</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Corp. 7 5/8%, 6/15/12</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>40,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9/20/11</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(108 bp)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(554)</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="100%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>JPMorgan Chase Bank, N.A.</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Co., 7.45%,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7/16/31</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>80,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6/20/07</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>635 bp</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,392</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="100%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Co., 7.45%,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7/16/31</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>100,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6/20/07</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>665 bp</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,852</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="100%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Co., 7.45%,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7/16/31</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>30,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9/20/07</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(345 bp)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(516)</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="100%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Co., 7.45%,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7/16/31</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>30,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9/20/08</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>550 bp</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,820</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="100%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>General Motors Corp.,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7 1/8%, 7/15/13</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>30,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9/20/07</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(350 bp)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(560)</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="100%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>General Motors Corp.,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7 1/8%, 7/15/13</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>30,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9/20/08</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>500 bp</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,659</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="100%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="42%" colSpan=2><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Lehman Brothers Special Financing, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Goodyear Tire &amp; Rubber,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7.857%, 8/15/11</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>15,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>3/20/12</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>185 bp</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(47)</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="100%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Merrill Lynch Capital Services, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Co., 7.45%,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7/16/31</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>85,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9/20/07</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(345 bp)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(1,789)</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="100%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Co., 7.45%,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7/16/31</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>85,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9/20/08</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>570 bp</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>5,443</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="100%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>General Motors Corp.,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7 1/8%, 7/15/13</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>120,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9/20/07</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(335 bp)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(2,308)</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="100%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>General Motors Corp.,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7 1/8%, 7/15/13</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>120,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9/20/08</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>500 bp</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6,633</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="100%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Morgan Stanley Capital Services, Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Co., 7.45%,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7/16/31</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>30,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9/20/07</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(345 bp)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(631)</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="100%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ford Motor Co., 7.45%,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7/16/31</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>30,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9/20/08</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>560 bp</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,870</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="100%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>General Motors Corp.,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7 1/8%, 7/15/13</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>30,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9/20/07</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(335 bp)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(583)</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="100%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>General Motors Corp.,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="12%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7 1/8%, 7/15/13</FONT>&nbsp;</TD>
     <TD noWrap align=right width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>30,000</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9/20/08</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>500 bp</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,659</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="100%" colSpan=7>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Total</FONT>&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=left width="13%">&nbsp;</TD>
     <TD noWrap align=left width="6%" background=""></TD>
     <TD noWrap align=left width="12%">&nbsp;</TD>
     <TD noWrap align=left width="15%">&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$74,453</FONT>&nbsp;</TD></TR></TABLE><BR>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>* Payments related to the reference debt are made upon a credit default event.</FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>** Upfront premium is based on the difference between the original spread on issue and the market spread on day of execution. </FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>(a) Terminating on the date on which the notional amount is reduced to zero or the date on which the assets securing the reference entity are liquidated.</FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>The accompanying notes are an integral part of these financial statements.</FONT></I></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>43</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_45"></A>
<P align=left><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=4>Statement of assets and liabilities </FONT></B><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>2/28/07 (Unaudited)</FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>ASSETS</FONT>&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="99%" background="" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Investment in securities, at value, including $2,128,328 of securities on loan (Note 1):</FONT>&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Unaffiliated issuers (identified cost $184,579,434)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$197,625,020</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Affiliated issuers (identified cost $6,550,431) (Note 5)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6,550,431</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Cash</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6,788</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Dividends, interest and other receivables</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,258,350</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Receivable for securities sold</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>675,315</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Unrealized appreciation on swap contracts (Note 1)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>92,647</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Receivable for open forward currency contracts (Note 1)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>39,171</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Receivable for closed forward currency contracts (Note 1)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>16,815</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Total assets</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>207,264,537</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>LIABILITIES</FONT>&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="99%" background="" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Distributions payable to shareholders</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>981,471</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Payable for securities purchased</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,555,379</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Payable for compensation of Manager (Notes 2 and 5)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>331,872</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Payable for investor servicing and custodian fees (Note 2)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>30,326</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Payable for Trustee compensation and expenses (Note 2)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>79,076</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Payable for administrative services (Note 2)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,115</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Premiums received on swap contracts (Note 1)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>20,250</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Unrealized depreciation on swap contracts (Note 1)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>18,194</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Collateral on securities loaned, at value (Note 1)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,181,810</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Other accrued expenses</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>110,659</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Total liabilities</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>5,310,152</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Net assets</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$201,954,385</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>REPRESENTED BY</FONT>&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="99%" background="" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Paid-in capital (Unlimited shares authorized) (Note 4)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$211,467,455</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Undistributed net investment income (Note 1)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>223,359</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Accumulated net realized loss on investments and foreign currency transactions (Note 1)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(22,897,208)</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Net unrealized appreciation of investments and assets and liabilities in foreign currencies</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>13,160,779</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Total &#151; Representing net assets applicable to capital shares outstanding</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$201,954,385</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>COMPUTATION OF NET ASSET VALUE</FONT>&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="99%" background="" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Net asset value per share</FONT>&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="83%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>($201,954,385 divided by 21,546,967 shares)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$9.37</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>The accompanying notes are an integral part of these financial statements.</FONT></I></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>44</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_46"></A>
<P align=left><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=4>Statement of operations </FONT></B><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Six months ended 2/28/07 (Unaudited)</FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>INVESTMENT INCOME</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%">&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="99%" background="" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Interest (including interest income of $116,023</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>from investments in affiliated issuers) (Note 5)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$ 4,535,400</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Dividends</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,183,106</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Securities lending</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>46,285</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Total investment income</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>6,764,791</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>&nbsp;&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>EXPENSES</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%">&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="99%" background="" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Compensation of Manager (Note 2)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>670,719</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Investor servicing fees (Note 2)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>48,993</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Custodian fees (Note 2)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>64,914</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Trustee compensation and expenses (Note 2)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>13,039</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Administrative services (Note 2)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>10,549</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Auditing fees</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>52,188</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Other</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>79,044</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Fees waived and reimbursed by Manager (Note 5)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(2,059)</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Total expenses</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>937,387</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Expense reduction (Note 2)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(3,086)</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Net expenses</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>934,301</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Net investment income</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>5,830,490</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Net realized gain on investments (Notes 1 and 3)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,818,612</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Net increase from payments by affiliates (Note 2)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6,055</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Net realized gain on swap contracts (Note 1)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>59,599</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Net realized loss on foreign currency transactions (Note 1)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(62,283)</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Net unrealized appreciation of assets and liabilities</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>in foreign currencies during the period</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1,056</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Net unrealized appreciation of investments</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>and swap contracts during the period</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9,208,036</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Net gain on investments</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>12,031,075</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="70%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Net increase in net assets resulting from operations</FONT>&nbsp; </TD>
     <TD noWrap align=right width="29%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$17,861,565</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>The accompanying notes are an integral part of these financial statements.</FONT></I></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>45</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_47"></A>
<P align=left><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=4>Statement of changes in net assets </FONT></B></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>INCREASE (DECREASE) IN NET ASSETS</FONT>&nbsp; </TD>
     <TD noWrap align=left width="24%">&nbsp; </TD>
     <TD noWrap align=left width="19%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%">&nbsp; </TD>
     <TD noWrap align=right width="24%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Six months ended</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Year ended</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%">&nbsp; </TD>
     <TD noWrap align=right width="24%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2/28/07*</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>8/31/06</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>Operations:</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="24%">&nbsp; </TD>
     <TD noWrap align=left width="19%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Net investment income</FONT>&nbsp; </TD>
     <TD noWrap align=right width="24%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$ 5,830,490</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$ 11,892,110</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Net realized gain on investments</FONT>&nbsp; </TD>
     <TD noWrap align=left width="24%">&nbsp; </TD>
     <TD noWrap align=left width="19%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>and foreign currency transactions</FONT>&nbsp; </TD>
     <TD noWrap align=right width="24%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2,821,983</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>7,421,921</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Net unrealized appreciation (depreciation) of investments</FONT>&nbsp; </TD>
     <TD noWrap align=left width="24%">&nbsp; </TD>
     <TD noWrap align=left width="19%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>and assets and liabilities in foreign currencies</FONT>&nbsp; </TD>
     <TD noWrap align=right width="24%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9,209,092</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(6,018,739)</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Net increase in net assets resulting from operations</FONT>&nbsp; </TD>
     <TD noWrap align=right width="24%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>17,861,565</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>13,295,292</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Distributions to shareholders: (Note 1)</FONT>&nbsp; </TD>
     <TD noWrap align=left width="24%">&nbsp; </TD>
     <TD noWrap align=left width="19%">&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>From ordinary income</FONT>&nbsp; </TD>
     <TD noWrap align=left width="24%">&nbsp; </TD>
     <TD noWrap align=left width="19%">&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Net investment income</FONT>&nbsp; </TD>
     <TD noWrap align=right width="24%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(5,934,087)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(11,792,306)</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Decrease from capital shares repurchased (Note 4)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="24%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(554,881)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(6,969,459)</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Increase from payments by affiliates (Note 2)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="24%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>404,272</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Total increase (decrease) in net assets</FONT>&nbsp; </TD>
     <TD noWrap align=right width="24%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>11,372,597</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>(5,062,201)</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>&nbsp;&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>NET ASSETS</FONT>&nbsp; </TD>
     <TD noWrap align=left width="24%">&nbsp; </TD>
     <TD noWrap align=left width="19%">&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="98%" background="" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Beginning of period</FONT>&nbsp; </TD>
     <TD noWrap align=right width="24%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>190,581,788</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>195,643,989</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>End of period </FONT><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(including undistributed net investment</FONT>&nbsp; </TD>
     <TD noWrap align=left width="24%">&nbsp; </TD>
     <TD noWrap align=left width="19%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>income of $223,359 and $326,956, respectively)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="24%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$201,954,385</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$190,581,788</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>&nbsp;&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>NUMBER OF FUND SHARES</FONT>&nbsp; </TD>
     <TD noWrap align=left width="24%">&nbsp; </TD>
     <TD noWrap align=left width="19%">&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="98%" background="" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Shares outstanding at beginning of period</FONT>&nbsp; </TD>
     <TD noWrap align=right width="24%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>21,616,241</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>22,519,551</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Shares repurchased (Note 4)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="24%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(69,274)</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(903,310)</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="55%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Shares outstanding at end of period</FONT>&nbsp; </TD>
     <TD noWrap align=right width="24%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>21,546,967</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>21,616,241</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>* Unaudited</FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>The accompanying notes are an integral part of these financial statements.</FONT></I></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>46</FONT></P>
<HR align=center width="100%" noShade SIZE=2>


<A name="page_48"></A>
<P align=left><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=4>Financial highlights</FONT></B> <FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>(For a common share outstanding throughout the period)</FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="51%" colSpan=4><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>PER-SHARE OPERATING PERFORMANCE</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="10%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="21%">&nbsp;</TD>
     <TD noWrap align=center width="30%" colSpan=3><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Six months ended**</FONT>&nbsp;</TD>
     <TD noWrap align=right width="26%" colSpan=2><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Year ended</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="10%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="21%">&nbsp;</TD>
     <TD noWrap align=left width="6%">&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2/28/07</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>8/31/06</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>8/31/05</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>8/31/04</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>8/31/03</FONT>&nbsp;</TD>
     <TD noWrap align=right width="10%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>8/31/02</FONT>&nbsp;</TD></TR>
<TR>
     <TD noWrap align=left width="99%" background="" colSpan=8>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="21%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Net asset value,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=right width="13%">&nbsp;</TD>
     <TD noWrap align=right width="14%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="10%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="21%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>beginning of period</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%">&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>$8.82</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>$8.69</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>$8.37</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>$7.73</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>$6.56</FONT>&nbsp;</TD>
     <TD noWrap align=right width="10%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>$7.30</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="99%" colSpan=8>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="21%"><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>Investment operations:</FONT></I>&nbsp;</TD>
     <TD noWrap align=left width="6%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=right width="13%">&nbsp;</TD>
     <TD noWrap align=right width="14%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="10%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%" colSpan=2><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Net investment income (a)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>.27(d)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>.54(d)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>.52(d,g)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>.57(d)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>.58</FONT>&nbsp;</TD>
     <TD noWrap align=right width="10%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>.60</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="99%" colSpan=8>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%" colSpan=2><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Net realized and unrealized</FONT>&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=right width="13%">&nbsp;</TD>
     <TD noWrap align=right width="14%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="10%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%" colSpan=2><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>gain (loss) on investments</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>.56</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>.06</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>.36</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>.63</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1.15</FONT>&nbsp;</TD>
     <TD noWrap align=right width="10%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(.72)</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="99%" colSpan=8>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="21%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Total from</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=right width="13%">&nbsp;</TD>
     <TD noWrap align=right width="14%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="10%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="21%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>investment operations</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%">&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>.83</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>.60</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>.88</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>1.20</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>1.73</FONT>&nbsp;</TD>
     <TD noWrap align=right width="10%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>(.12)</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="99%" colSpan=8>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="21%"><I><FONT face=PGTable-Italic,Arial,Helvetica,sans-serif size=1>Less distributions:</FONT></I>&nbsp;</TD>
     <TD noWrap align=left width="6%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=right width="13%">&nbsp;</TD>
     <TD noWrap align=right width="14%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="10%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%" colSpan=2><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>From net investment income</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(.28)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(.53)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(.56)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(.56)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(.56)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="10%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(.62)</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="99%" colSpan=8>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="21%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Total distributions</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%">&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(.28)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(.53)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(.56)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(.56)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(.56)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="10%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(.62)</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="99%" colSpan=8>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%" colSpan=2><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Increase from repurchase of shares&nbsp;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%" background="">&nbsp;<FONT face=PGTable-Roman,Arial,Helvetic><FONT size=1>&#151;(e)</FONT></FONT></TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>.04</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="10%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="99%" colSpan=8>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%" colSpan=2><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Increase from payments by affiliates&nbsp;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%" background="">
<P align=right><FONT face=PGTable-Roman,Arial,Helvetic><FONT size=1>&#151;&nbsp;</FONT></FONT></P></TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>.02(f )</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD>
     <TD noWrap align=right width="10%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>&#151;</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="99%" colSpan=8>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="21%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Net asset value,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=right width="13%">&nbsp;</TD>
     <TD noWrap align=right width="14%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="10%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="21%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>end of period</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%">&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$9.37</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$8.82</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$8.69</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$8.37</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$7.73</FONT>&nbsp;</TD>
     <TD noWrap align=right width="10%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$6.56</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="99%" colSpan=8>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="21%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Market price,</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=right width="13%">&nbsp;</TD>
     <TD noWrap align=right width="14%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="10%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="21%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>end of period</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%">&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$8.62</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$7.87</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$7.80</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$7.62</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$7.31</FONT>&nbsp;</TD>
     <TD noWrap align=right width="10%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>$6.35</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="99%" colSpan=8>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="21%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Total return at</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=right width="13%">&nbsp;</TD>
     <TD noWrap align=right width="14%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="10%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="21%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>market price (%)</FONT><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>(b)</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%">&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>13.16</FONT><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>*</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>8.05</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>9.89</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>12.06</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>24.73</FONT>&nbsp;</TD>
     <TD noWrap align=right width="10%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>(6.77)</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="99%" colSpan=8></TD></TR>
<TR>
     <TD width="99%" colSpan=8>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="38%" colSpan=3><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>RATIOS AND SUPPLEMENTAL DATA</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%">&nbsp;</TD>
     <TD noWrap align=right width="14%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="10%">&nbsp;</TD></TR>
<TR>
     <TD noWrap align=left width="99%" background="" colSpan=8>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%" colSpan=2><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>Net assets, end of period</FONT>&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=right width="13%">&nbsp;</TD>
     <TD noWrap align=right width="14%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="10%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="21%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=1>(in thousands)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="17%" colSpan=2><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>$201,954</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>$190,582</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>$195,644</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>$115,776</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>$106,934</FONT>&nbsp;</TD>
     <TD noWrap align=right width="10%"><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>$90,561</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="99%" colSpan=8>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="21%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ratio of expenses to</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%">&nbsp;</TD>
     <TD noWrap align=left width="11%">&nbsp;</TD>
     <TD noWrap align=right width="13%">&nbsp;</TD>
     <TD noWrap align=right width="14%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="10%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%" colSpan=2><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>average net assets (%)(c)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>.48*(d)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1.05(d)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1.06(d)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1.09(d)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1.13</FONT>&nbsp;</TD>
     <TD noWrap align=right width="10%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>1.10</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="99%" colSpan=8>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="38%" colSpan=3><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Ratio of net investment income</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%">&nbsp;</TD>
     <TD noWrap align=right width="14%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="12%">&nbsp;</TD>
     <TD noWrap align=right width="10%">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="27%" colSpan=2><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>to average net assets (%)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>2.97*(d)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6.18(d)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6.13(d,g)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>6.88(d)</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>8.20</FONT>&nbsp;</TD>
     <TD noWrap align=right width="10%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>8.65</FONT>&nbsp;</TD></TR>
<TR>
     <TD width="99%" colSpan=8>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="21%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Portfolio turnover (%)</FONT>&nbsp;</TD>
     <TD noWrap align=left width="6%">&nbsp;</TD>
     <TD noWrap align=right width="11%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>21.26*</FONT>&nbsp;</TD>
     <TD noWrap align=right width="13%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>47.76</FONT>&nbsp;</TD>
     <TD noWrap align=right width="14%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>46.13</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>61.92</FONT>&nbsp;</TD>
     <TD noWrap align=right width="12%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>69.94</FONT>&nbsp;</TD>
     <TD noWrap align=right width="10%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>56.70</FONT>&nbsp;</TD></TR></TABLE><BR>
<P align=left><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>*</FONT> <I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>Not annualized.</FONT></I> </P>
<P align=left><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>**</FONT> <I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>Unaudited.</FONT></I></P>
<P align=left><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>(a)</FONT> <I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>Per share net investment income has been determined on the basis of the weighted average number of shares outstanding during the period.</FONT></I></P>
<P align=left><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>(b)</FONT> <I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>Total return assumes dividend reinvestment.</FONT></I></P>
<P align=left><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>(c)</FONT> <I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>Includes amounts paid through expense offset and brokerage service arrangements (Note 2).</FONT></I></P>
<P align=left><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>(d)</FONT> <I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>Reflects waivers of certain fund expenses in connection with investments in Putnam Prime Money Market Fund during the period. As a result of such waivers, the expenses of the fund for the periods ended February 28, 2007, August 31, 2006, August 31, 2005 and August 31, 2004 reflect a reduction of less than 0.01% of average net assets (Note 5).</FONT></I></P>
<P align=left><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>(e)</FONT> <I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>Amount represents less than $0.01 per share.</FONT></I></P>
<P align=left><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>(f)</FONT> <I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>Reflects a voluntary reimbursement of $404,272 from Putnam Management relating to an operational error. The reimbursement had no impact on total return at market price and increased total return at net asset value by 0.24% (Note 2).</FONT></I></P>
<P align=left><FONT face=PGTextLH-Roman,Arial,Helvetica,sans-serif size=1>(g)</FONT> <I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>Reflects a non-recurring accrual related to Putnam Management&#146;s settlement with the SEC regarding brokerage allocation practices, which amounted to less than $0.01 per share and less than 0.01% of average net assets.</FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>The accompanying notes are an integral part of these financial statements.</FONT></I></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>47</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_49"></A>
<P align=left><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=4>Notes to financial statements </FONT></B><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>2/28/07 (Unaudited)</FONT></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif size=2>Note 1: Significant accounting policies</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam High Income Securities Fund (the &#147;fund&#148;), a Massachusetts business trust, is registered under the Investment Company Act of 1940, as amended, as a diversified, closed-end management investment company. The fund seeks to provide high current income as a primary objective and capital appreciation as a secondary objective by investing in a portfolio primarily consisting of high-yielding convertible and nonconvertible securities with the potential for capital appreciation. The fund invests in higher yielding, lower rated bonds that may have a higher rate of default.</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>In the normal course of business, the fund enters into contracts that may include agreements to indemnify another party under given circumstances. The fund&#146;s maximum exposure under these arrangements is unknown as this would involve future claims that may be, but have not yet been, made against the fund. However, the fund expects the risk of material loss to be remote. </FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The following is a summary of significant accounting policies consistently followed by the fund in the preparation of its financial statements. The preparation of financial statements is in conformity with accounting principles generally accepted in the United States of America and requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>A) Security valuation </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets. If no sales are reported &#151; as in the case of some securities traded over-the-counter &#151; a security is valued at its last reported bid price. Market quotations are not considered to be readily available for certain debt obligations; such investments are valued on the basis of valuations </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>furnished by an independent pricing service approved by the Trustees or dealers selected by Putnam Investment Management, LLC (&#147;Putnam Management&#148;), the fund&#146;s manager, an indirect wholly-owned subsidiary of Putnam, LLC. Such services or dealers determine valuations for normal institutional-size trading u
nits of such securities using methods based on market transactions for comparable securities and various relationships, generally recognized by institutional traders, between securities. Many securities markets and exchanges outside the U.S. close prior to the close of the New York Stock Exchange and therefore the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur after such close but before the close of the New York Stock Exchange. Accordingly, on certain days, the fund will fair value foreign equity securities taking into account multiple factors, including movements in the U.S. securities markets. The number of days on which fair value prices will be used will depend on market activity and it is possible that fair value prices will be used by the fund to a significant extent. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate. Certain investments, including certain restricted securities, are
 also valued at fair value following procedures approved by the Trustees. Such valuations and procedures are reviewed periodically by the Trustees. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security at a given point in time and does not reflect an actual market price, which may be different by a material amount.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>B) Joint trading account </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Pursuant to an exemptive order from the Securities and Exchange Commission (the &#147;SEC&#148;), the fund may transfer uninvested cash balances, including cash collateral received under security lending arrangements, into a joint trading account along with the cash of other registered investment companies and</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>48</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_50"></A>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>certain other accounts managed by Putnam Management. These balances may be invested in issues of high-grade short-term investments having maturities of up to 397 days for collateral received under security lending arrangements and up to 90 days for other cash investments.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>C) Security transactions and related investment income </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Gains or losses on securities sold are determined on the identified cost basis. </FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Interest income is recorded on the accrual basis. Dividend income, net of applicable withholding taxes, is recognized on the ex-dividend date except that certain dividends from foreign securities, if any, are recognized as soon as the fund is informed of the ex-dividend date. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Dividends representing a return of capital or capital gains, if any, are reflected as a reduction of cost and/or as a realized gain.</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>All premiums/discounts are amortized/accreted on a yield-to-maturity basis.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>D) Foreign currency translation </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The accounting records of the fund are maintained in U.S. dollars. The market value of foreign securities, currency holdings, and other assets and liabilities are recorded in the books and records of the fund after translation to U.S. dollars based on the exchange rates on that day. The cost of each security is determined using historical exchange rates. Income and withholding taxes are translated at prevailing exchange rates when earned or incurred. The fund does not isolate that portion of realized or unrealized gains or losses resulting from changes in the foreign exchange rate on investments from fluctuations arising from changes in the market prices of the securities. Such gains and losses are included with the net realized and unrealized gain or loss on investments. Net realized gains and losses on foreign currency transactions represen
t net realized exchange gains or losses on closed forward </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>currency contracts, disposition of foreign currencies, currency gains and losses realized between the trade and settlement dates on securities transactions and the difference between the amount of investment income and foreign withholding taxes recorded on the fund&#146;s books and the U.S. dollar equivalent amounts actually received or paid. Net unrealized appreciation and depreciation of assets and liabilities in foreign currencies arise from changes in the value of open forward currency contracts and assets and liabilities other than investments at the period end, resulting from changes in the exchange rate. Investments in foreign securities involve certain risks, including those related to economic instability, unfavorable political developments, and currency fluctuations, not present with domestic investments.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>E) Forward currency contracts </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The fund may buy and sell forward currency contracts, which are agreements between two parties to buy and sell currencies at a set price on a future date. These contracts are used to protect against a decline in value relative to the U.S. dollar of the currencies in which its portfolio securities are denominated or quoted (or an increase in the value of a currency in which securities a fund intends to buy are denominated, when a fund holds cash reserves and short term investments), or for other investment purposes. The U.S. dollar value of forward currency contracts is determined using current forward currency exchange rates supplied by a quotation service. The market value of the contract will fluctuate with changes in currency exchange rates. The contract is marked to market daily and the change in market value is recorded as an unrealized ga
in or loss. When the contract is closed, the fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. The fund could be exposed to risk if the value of the currency changes unfavorably, if the counterparties to the contracts are unable to meet the terms of their contracts or if the fund is unable to enter into a closing position. Risks may exceed amounts recognized on the statement of assets and liabilities.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>49</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_51"></A>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Forward currency contracts outstanding at period end, if any, are listed after the fund&#146;s portfolio.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>F) Credit default contracts </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The fund may enter into credit default contracts where one party, the protection buyer, makes an upfront or periodic payment to a counter party, the protection seller, in exchange for the right to receive a contingent payment. The maximum amount of the payment may equal the notional amount, at par, of the underlying index or security as a result of a related credit event. Payments are made upon a credit default event of the disclosed primary referenced obligation or all other equally ranked obligations of the reference entity. An upfront payment received by the fund, as the protection seller, is recorded as a liability on the fund&#146;s books. An upfront payment made by the fund, as the protection buyer, is recorded as an asset on the fund&#146;s books. Periodic payments received or paid by the fund are recorded as realized gains or losses. The 
credit default contracts are marked to market daily based upon quotations from an independent pricing service or market makers and the change, if any, is recorded as unrealized gain or loss. Payments received or made as a result of a credit event or termination of the contract are recognized, net of a proportional amount of the upfront payment, as realized gains or losses. In addition to bearing the risk that the credit event will occur, the fund could be exposed to market risk due to unfavorable changes in interest rates or in the price of the underlying security or index, the possibility that the fund may be unable to close out its position at the same time or at the same price as if it had purchased comparable publicly traded securities or that the counterparty may default on its obligation to perform. Risks of loss may exceed amounts recognized on the statement of assets and liabilities. Credit default contracts outstanding at period end, if any, are listed after the fund&#146;s portfolio.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>G) Securities lending </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The fund may lend securities, through its agents, to qualified borrowers in order to earn additional income. The loans are collateralized by cash and/or securities in an </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>amount at least equal to the market value of the securities loaned. The market value of securities loaned is determined daily and any additional required collateral is allocated to the fund on the next business day. The risk of borrower default will be borne by the fund&#146;s agents; the fund will bear the risk of loss with respect to the investment of the cash collateral. Income from securities lending is included in investment income on the statement of operations. At February 28, 2007, the value of securities loaned amounted to $2,128,328. The fund received cash collateral of $2,181,810 which is pooled with collateral
 of other Putnam funds into 28 issues of high grade short-term investments.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>H) Federal taxes </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>It is the policy of the fund to distribute all of its taxable income within the prescribed time and otherwise comply with the provisions of the Internal Revenue Code of 1986 (the &#147;Code&#148;) applicable to regulated investment companies. It is also the intention of the fund to distribute an amount sufficient to avoid imposition of any excise tax under Section 4982 of the Code, as amended. Therefore, no provision has been made for federal taxes on income, capital gains or unrealized appreciation on securities held nor for excise tax on income and capital gains.</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>At August 31, 2006, the fund had a capital loss carryover of $25,677,813 available to the extent allowed by the Code to offset future net capital gain, if any. The amount of the carryover and the expiration dates are:</FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=right width="48%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Loss Carryover</FONT>&nbsp; </TD>
     <TD noWrap align=right width="51%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>Expiration</FONT>&nbsp; </TD></TR>
<TR>
     <TD noWrap align=right width="99%" background="" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=right width="48%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>$6,254,785</FONT>&nbsp; </TD>
     <TD noWrap align=right width="51%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>August 31, 2009</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=right width="48%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9,828,332</FONT>&nbsp; </TD>
     <TD noWrap align=right width="51%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>August 31, 2010</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=right width="48%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>9,594,696</FONT>&nbsp; </TD>
     <TD noWrap align=right width="51%"><FONT face=PGTable-Light,Arial,Helvetica,sans-serif size=1>August 31, 2011</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>
<HR noShade SIZE=1>
</TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The aggregate identified cost on a tax basis is $191,000,786, resulting in gross unrealized appreciation and depreciation of $15,938,420 and $2,763,755, respectively, or net unrealized appreciation of $13,174,665.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>50</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_52"></A>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>I) Distributions to shareholders </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Distributions to shareholders from net investment income are recorded by the fund on the ex-dividend date. Distributions from capital gains, if any, are recorded on the ex-dividend date and paid at least annually. The amount and character of income and gains to be distributed are determined in accordance with income tax regulations, which may differ from generally accepted accounting principles. Dividend sources are estimated at the time of declaration. Actual results may vary. Any non-taxable return of capital cannot be determined until final tax calculations are completed after the end of the fund&#146;s fiscal year. Reclassifications are made to the fund&#146;s capital accounts to reflect income and gains available for distribution (or available capital loss carryovers) under income tax regulations.</FONT></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif size=2>Note 2: Management fee, administrative <BR>
services and other transactions</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam Management is paid for management and investment advisory services quarterly based on the &#147;average weekly assets&#148; of the fund. &#147;Average weekly assets&#148; is defined to mean the average of the weekly determinations of the difference between the total assets of the fund (including any assets attributable to leverage for investment purposes through incurrence of indebtedness) and the total liabilities of the fund (excluding liabilities incurred in connection with leverage of investment purposes through incurrence of indebtedness). This fee is based on the following annual rates: 0.70% of the first $500 million of average weekly assets, 0.60% of the next $500 million, 0.55% of the next $500 million, and 0.50% of the next $5 billion, with additional breakpoints at higher asset levels.</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam Investments Limited (&#147;PIL&#148;), an affiliate of Putnam Management, is authorized by the Trustees to manage a separate portion of the assets of the fund as determined by Putnam Management from time to time. Putnam Management pays a quarterly sub-management fee to PIL for its services at an </FONT><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>annual rate of 0.40% of the average weekly assets of the portion of the fund managed by PIL. </FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam Management voluntarily reimbursed the fund $6,055 for a trading error which occurred during the period ended February 28, 2007. The effect of the losses incurred and the reimbursement by Putnam Management of such losses had no effect on total return.</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>During the year ended August 31, 2006, Putnam Management voluntarily reimbursed the fund $404,272 relating to an operational error that occurred during the prior fiscal year.</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The fund reimburses Putnam Management an allocated amount for the compensation and related expenses of certain officers of the fund and their staff who provide administrative services to the fund. The aggregate amount of all such reimbursements is determined annually by the Trustees.</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Custodial functions for the fund&#146;s assets were provided by Putnam Fiduciary Trust Company (&#147;PFTC&#148;), a subsidiary of Putnam, LLC, and by State Street Bank and Trust Company. Custody fees are based on the fund&#146;s asset level, the number of its security holdings and transaction volumes. Putnam Investor Services, a division of PFTC, provided investor servicing agent functions to the fund. Putnam Investor Services was paid a monthly fee for investor servicing at an annual rate of 0.05% of the fund&#146;s average net assets. During the period ended February 28, 2007, the fund incurred $112,773 for custody and investor servicing agent functions provided by PFTC. </FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The fund has entered into arrangements with PFTC and State Street Bank and Trust Company whereby credits realized as a result of uninvested cash balances are used to reduce a portion of the fund&#146;s expenses. The fund also reduced expenses through brokerage service arrangements. For the six months ended February 28, 2007, the fund&#146;s expenses were reduced by $3,086 under these arrangements.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>51</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_53"></A>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Each independent Trustee of the fund receives an annual Trustee fee, of which $282, as a quarterly retainer, has been allocated to the fund, and an additional fee for each Trustees meeting attended. Trustees receive additional fees for attendance at certain committee meetings, industry seminars and for certain compliance-related matters. Trustees also are reimbursed for expenses they incur relating to their services as Trustees. George Putnam, III, who is not an independent Trustee, also receives the foregoing fees for his services as Trustee.</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The fund has adopted a Trustee Fee Deferral Plan (the &#147;Deferral Plan&#148;) which allows the Trustees to defer the receipt of all or a portion of Trustees fees payable on or after July 1, 1995. The deferred fees remain invested in certain Putnam funds until distribution in accordance with the Deferral Plan. </FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The fund has adopted an unfunded noncontributory defined benefit pension plan (the &#147;Pension Plan&#148;) covering all Trustees of the fund who have served as a Trustee for at least five years and were first elected prior to 2004. Benefits under the Pension Plan are equal to 50% of the Trustee&#146;s average annual attendance and retainer fees for the three years ended December 31, 2005. The retirement benefit is payable during a Trustee&#146;s lifetime, beginning the year following retirement, for the number of years of service through December 31, 2006. Pension expense for the fund is included in Trustee compensation and expenses in the statement of operations. Accrued pension liability is included in Payable for Trustee compensation and expenses in the statement of assets and liabilities. The Trustees have terminated the Pension Plan with respect to any Trustee first elected after 2003.</FONT></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif size=2>Note 3: Purchases and sales of securities</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>During the six months ended February 28, 2007, cost of purchases and proceeds from sales of investment securities other than short-term investments aggregated $40,529,272 and $42,325,842, respectively. There were no purchases or sales of U.S. government securities.</FONT></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif size=2>Note 4: Share repurchase program</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>In October 2005, the Trustees of your fund authorized Putnam Investments to implement a repurchase program on behalf of your fund, which would allow your fund to repurchase up to 5% of its outstanding common shares over the 12 months ending October 6, 2006 (based on shares outstanding as of October 7, 2005). In March 2006, the Trustees approved an increase in this repurchase program to allow the fund to repurchase a total of up to 10% of its outstanding common shares over the same period. In September 2006, the Trustees extended the program on its existing terms through October 6, 2007. Repurchases will only be made when the fund&#146;s shares are trading at less than net asset value and in accordance with procedures approved by the fund&#146;s Trustees.</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>For the six months ended February 28, 2007, the fund repurchased 69,274 common shares for an aggregate purchase price of $554,881, which reflects a weighted-average discount from net asset value per share of 9.8% .</FONT></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif size=2>Note 5: Investment in Putnam Prime Money Market Fund</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The fund invests in Putnam Prime Money Market Fund, an open-end management investment company managed by Putnam Management. Investments in Putnam Prime Money Market Fund are valued at its closing net asset value each business day. Management fees paid by the fund are reduced by an amount equal to the management and administrative services fees paid by Putnam Prime Money Market Fund with respect to assets invested by the fund in Putnam Prime Money Market Fund. For the period ended February 28, 2007, management fees paid were reduced by $2,059 relating to the fund&#146;s investment in Putnam Prime Money Market Fund. Income distributions earned by the fund are recorded as income in the statement of operations and totaled $116,023 for the period ended February 28, 2007. During the period ended February 28, 2007, cost of purchases and proceeds of sales of investments in</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>52</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_54"></A>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam Prime Money Market Fund aggregated $34,415,617 and $30,165,815, respectively.</FONT></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif size=2>Note 6: Regulatory matters and litigation</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>In late 2003 and 2004, Putnam Management settled charges brought by the SEC and the Massachusetts Securities Division (&#147;MSD&#148;) in connection with excessive short-term trading by certain former Putnam employees and, in the case of charges brought by the MSD, excessive short-term trading by participants in some Putnam-administered 401(k) plans. Putnam Management agreed to pay $193.5 million in penalties and restitution, of which $153.5 million will be distributed to certain open-end Putnam funds and their shareholders after the SEC and MSD approve a distribution plan being developed by an independent consultant. The allegations of the SEC and MSD and related matters have served as the general basis for certain lawsuits, including purported class action lawsuits filed against Putnam Management and, in a limited number of cases, against some Putnam funds. Putnam Management believes that these lawsuits will have no material adverse e
ffect on the funds or on Putnam Management&#146;s ability to provide investment management services. In addition, Putnam Management has agreed to bear any costs incurred by the Putnam funds as a result of these matters.</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam Management and Putnam Retail Management are named as defendants in a civil suit in which the plaintiffs allege that the management and distribution fees paid by certain Putnam funds were excessive and seek recovery under the Investment Company Act of 1940. Putnam Management and Putnam Retail Management have contested the plaintiffs&#146; claims and the matter is currently pending in the U.S. District Court for the District of Massachusetts. Based on currently available information, Putnam Management believes that this action is without merit and that it is unlikely to have a material effect on Putnam Management&#146;s and Putnam Retail Management&#146;s ability to provide services to their clients, including the fund.</FONT></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif size=2>Note 7: New accounting pronouncements</FONT></B></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>In June 2006, the Financial Accounting Standards Board (&#147;FASB&#148;) issued Interpretation No. 48, </FONT><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Accounting for Uncertainty in Income Taxes </FONT></I><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>(the &#147;Interpretation&#148;). The Interpretation prescribes a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken by a filer in the filer&#146;s tax return. The Interpretation will become effective for fiscal years beginning after December 15, 2006 but will also apply to tax positions reflected in the fund&#146;s financial statements as of that date. No determination has been made whether the adoption of the Interpretation will require the fund to make any adjustments to its net assets or have any other effect on the fund&#146;s financial statements. The effects of implementing this pr
onouncement, if any, will be noted in the fund&#146;s next semiannual financial statements.</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>In September 2006, the FASB issued Statement of Financial Accounting Standards No. 157, </FONT><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Fair Value Measurements </FONT></I><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>(the &#147;Standard&#148;). The Standard defines fair value, sets out a framework for measuring fair value and requires additional disclosures about fair value measurements. The Standard applies to fair value measurements already required or permitted by existing standards. The Standard is effective for financial statements issued for fiscal years beginning after November 15, 2007 and interim periods within those fiscal years. Putnam Management is currently evaluating what impact the adoption of the Standard will have on the fund&#146;s financial statements.</FONT></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>53</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_55"></A>
<P align=left><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=4>Shareholder meeting </FONT></B><BR>
<B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=4>results (Unaudited)</FONT></B></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>The annual meeting of shareholders of the fund was held on January 11, 2007.</FONT></P>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>At the meeting, each of the nominees for Trustees was elected, as follows:</FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="35%">&nbsp; </TD>
     <TD noWrap align=center width="36%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=1>Votes for</FONT>&nbsp; </TD>
     <TD noWrap align=center width="27%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=1>Votes withheld</FONT>&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="98%" background="" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="35%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>Jameson A. Baxter</FONT>&nbsp; </TD>
     <TD noWrap align=center width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>19,321,122</FONT>&nbsp; </TD>
     <TD noWrap align=center width="27%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>568,396</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="35%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>Charles B. Curtis</FONT>&nbsp; </TD>
     <TD noWrap align=center width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>19,335,526</FONT>&nbsp; </TD>
     <TD noWrap align=center width="27%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>553,992</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="35%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>Myra R. Drucker</FONT>&nbsp; </TD>
     <TD noWrap align=center width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>19,336,293</FONT>&nbsp; </TD>
     <TD noWrap align=center width="27%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>553,225</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="35%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>Charles E. Haldeman, Jr.</FONT>&nbsp; </TD>
     <TD noWrap align=center width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>19,341,606</FONT>&nbsp; </TD>
     <TD noWrap align=center width="27%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>547,912</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="35%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>John A. Hill</FONT>&nbsp; </TD>
     <TD noWrap align=center width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>19,325,305</FONT>&nbsp; </TD>
     <TD noWrap align=center width="27%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>564,213</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="35%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>Paul L. Joskow</FONT>&nbsp; </TD>
     <TD noWrap align=center width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>19,339,494</FONT>&nbsp; </TD>
     <TD noWrap align=center width="27%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>550,024</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="35%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>Elizabeth T. Kennan</FONT>&nbsp; </TD>
     <TD noWrap align=center width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>19,338,779</FONT>&nbsp; </TD>
     <TD noWrap align=center width="27%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>550,739</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="35%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>Kenneth R. Leibler</FONT>&nbsp; </TD>
     <TD noWrap align=center width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>19,331,503</FONT>&nbsp; </TD>
     <TD noWrap align=center width="27%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>558,015</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="35%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>Robert E. Patterson</FONT>&nbsp; </TD>
     <TD noWrap align=center width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>19,320,976</FONT>&nbsp; </TD>
     <TD noWrap align=center width="27%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>568,542</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="35%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>George Putnam, III</FONT>&nbsp; </TD>
     <TD noWrap align=center width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>19,335,875</FONT>&nbsp; </TD>
     <TD noWrap align=center width="27%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>553,643</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="35%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>W. Thomas Stephens</FONT>&nbsp; </TD>
     <TD noWrap align=center width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>19,338,651</FONT>&nbsp; </TD>
     <TD noWrap align=center width="27%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>550,867</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="35%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>Richard B. Worley</FONT>&nbsp; </TD>
     <TD noWrap align=center width="36%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>19,333,988</FONT>&nbsp; </TD>
     <TD noWrap align=center width="27%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>555,530</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=3>
<HR noShade SIZE=1>
</TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>A proposal to convert your fund to an open-end investment company was defeated as follows:</FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=center width="19%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=1>Votes for</FONT>&nbsp; </TD>
     <TD noWrap align=center width="30%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=1>Votes against</FONT>&nbsp; </TD>
     <TD noWrap align=center width="26%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=1>Abstentions</FONT>&nbsp; </TD>
     <TD noWrap align=center width="23%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=1>Broker non-votes</FONT>&nbsp; </TD></TR>
<TR>
     <TD noWrap align=center width="98%" background="" colSpan=4>
<HR noShade SIZE=1>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center width="19%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>1,623,353</FONT>&nbsp; </TD>
     <TD noWrap align=center width="30%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>8,239,200</FONT>&nbsp; </TD>
     <TD noWrap align=center width="26%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>296,940</FONT>&nbsp; </TD>
     <TD noWrap align=center width="23%"><FONT face=PGTable-Roman,Arial,Helvetica,sans-serif size=2>9,730,025</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=4>
<HR noShade SIZE=1>
</TD></TR></TABLE><BR>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>All tabulations are rounded to the nearest whole number.</FONT></I></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>54</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_56"></A>
<P align=left><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=4>The Putnam </FONT></B><BR>
<B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=4>family of funds</FONT></B></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>The following is a list of Putnam&#146;s open-end mutual funds offered to the public. </FONT><I><FONT face=PGText-Italic,Arial,Helvetica,sans-serif size=2>Investors should carefully consider the investment objective, risks, charges, and expenses of a fund before investing. For a prospectus containing this and other information for any Putnam fund or product, call your financial advisor at 1-800-225-1581 and ask for a prospectus. Please read the prospectus carefully before investing.</FONT></I></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=2>Growth funds</FONT></B>&nbsp; </TD>
     <TD noWrap align=left width="50%"><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=2>Value funds</FONT></B>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Discovery Growth Fund</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Classic Equity Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Growth Opportunities Fund</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Convertible Income-Growth Trust</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Health Sciences Trust</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Equity Income Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>International New Opportunities Fund*</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The George Putnam Fund of Boston</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>New Opportunities Fund</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>The Putnam Fund for Growth</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>OTC &amp; Emerging Growth Fund</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>and Income</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Small Cap Growth Fund*</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>International Growth and Income Fund*</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Vista Fund</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Mid Cap Value Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Voyager Fund</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>New Value Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%">&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Small Cap Value Fund*</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="99%" colSpan=2>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=2>Blend funds</FONT></B>&nbsp; </TD>
     <TD noWrap align=left width="50%"><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=2>Income funds</FONT></B>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Capital Appreciation Fund</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>American Government Income Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Capital Opportunities Fund*</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Diversified Income Trust</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Europe Equity Fund*</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Floating Rate Income Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Global Equity Fund*</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Global Income Trust*</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Global Natural Resources Fund*</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>High Yield Advantage Fund*</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>International Capital</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>High Yield Trust*</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Opportunities Fund*</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Income Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>International Equity Fund*</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Limited Duration Government</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Investors Fund</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Income Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Research Fund</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Money Market Fund&#134;</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Tax Smart Equity Fund&#174;</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>U.S. Government Income Trust</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Utilities Growth and Income Fund</FONT>&nbsp; </TD>
     <TD noWrap align=left width="50%">&nbsp; </TD></TR></TABLE><BR>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>* A 1% redemption fee on total assets redeemed or exchanged within 90 days of purchase may be imposed for all share classes of these funds.</FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>&#134; An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve your investment at $1.00 per share, it is possible to lose money by investing in the fund.</FONT></I></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>55</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_57"></A>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%"><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=2>Tax-free income funds</FONT></B>&nbsp; </TD>
     <TD noWrap align=left width="49%"><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=2>Putnam RetirementReady&#174; Funds</FONT></B>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>AMT-Free Insured Municipal Fund</FONT>&nbsp; </TD>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam RetirementReady Funds &#151; ten</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Tax Exempt Income Fund</FONT>&nbsp; </TD>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>investment portfolios that offer diversifica-</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Tax Exempt Money Market Fund&#167;</FONT>&nbsp; </TD>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>tion among stocks, bonds, and money</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Tax-Free High Yield Fund</FONT>&nbsp; </TD>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>market instruments and adjust to become</FONT>&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="50%" background="">&nbsp;</TD>
     <TD noWrap align=left width="49%" background=""><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>more conservative over time based on a</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>State tax-free income funds:</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>target date for withdrawing assets.</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Arizona, California, Massachusetts, Michigan,</FONT>&nbsp; </TD>
     <TD noWrap align=left width="49%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Minnesota, New Jersey, New York, Ohio,</FONT>&nbsp; </TD>
     <TD noWrap align=left width="49%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>The ten funds:</FONT></I>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>and Pennsylvania</FONT>&nbsp; </TD>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam RetirementReady 2050 Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%">&nbsp; </TD>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam RetirementReady 2045 Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%"><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=2>Asset allocation funds</FONT></B>&nbsp; </TD>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam RetirementReady 2040 Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Income Strategies Fund</FONT>&nbsp; </TD>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam RetirementReady 2035 Fund</FONT>&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="50%" background="">&nbsp;</TD>
     <TD noWrap align=left width="49%" background=""><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam RetirementReady 2030 Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam Asset Allocation Funds &#151; three</FONT>&nbsp; </TD>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam RetirementReady 2025 Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>investment portfolios that spread your</FONT>&nbsp; </TD>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam RetirementReady 2020 Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>money across a variety of stocks, bonds,</FONT>&nbsp; </TD>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam RetirementReady 2015 Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>and money market investments.</FONT>&nbsp; </TD>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam RetirementReady 2010 Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%">&nbsp; </TD>
     <TD noWrap align=left width="49%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam RetirementReady Maturity Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>The three portfolios:</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="49%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Asset Allocation: Balanced Portfolio</FONT>&nbsp; </TD>
     <TD noWrap align=left width="49%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Asset Allocation: Conservative Portfolio</FONT>&nbsp; </TD>
     <TD noWrap align=left width="49%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="50%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Asset Allocation: Growth Portfolio</FONT>&nbsp; </TD>
     <TD noWrap align=left width="49%">&nbsp; </TD></TR></TABLE><BR>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>With the exception of money market funds, a 1% redemption fee may be applied to shares exchanged or sold within 7 days of purchase (90 days, for certain funds). </FONT></I></P>
<P align=left><I><FONT face=PGTextLH-Italic,Arial,Helvetica,sans-serif size=1>Check your account balances and the most recent month-end performance at www.putnam.com.</FONT></I></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>56</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_58"></A>
<P align=left><B><FONT face=PGText-Bold,Arial,Helvetica,sans-serif size=4>Fund information</FONT></B></P>
<P align=left><B><FONT face=PGTextLH-Bold,Arial,Helvetica,sans-serif>About Putnam Investments</FONT></B></P>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Founded over 65 years ago, Putnam Investments was built around the concept that a balance between risk and reward is the hallmark of a well-rounded financial program. We manage over 100 mutual funds in growth, value, blend, fixed income, and international.</FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Investment Manager</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Elizabeth T. Kennan</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Beth S. Mazor</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam Investment</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Kenneth R. Leibler</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Vice President</FONT></I>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Management, LLC</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Robert E. Patterson</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>One Post Office Square</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>George Putnam, III</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>James P. Pappas</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Boston, MA 02109</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>W. Thomas Stephens</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Vice President</FONT></I>&nbsp;&nbsp;&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="31%" background="">&nbsp;</TD>
     <TD noWrap align=left width="33%" background=""><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Richard B. Worley</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%" background=""></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Investment Sub-Manager</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"></TD>
     <TD noWrap align=left width="34%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Richard S. Robie, III</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam Investments Limited</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Officers</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Vice President</FONT></I>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>57&#150;59 St. James&#146;s Street</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>George Putnam, III</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>London, England SW1A 1LD</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>President</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="34%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Francis J. McNamara, III</FONT>&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="31%" background="">&nbsp;</TD>
     <TD noWrap align=left width="33%" background=""></TD>
     <TD noWrap align=left width="34%" background=""><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Vice President and</FONT></I>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Marketing Services</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Charles E. Porter</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Chief Legal Officer</FONT></I>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam Retail Management</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Executive Vice President,</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="34%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>One Post Office Square</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Principal Executive Officer,</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="34%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Robert R. Leveille</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Boston, MA 02109</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Associate Treasurer and</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="34%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Chief Compliance Officer</FONT></I>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%">&nbsp; </TD>
     <TD noWrap align=left width="33%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Compliance Liaison</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="34%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Custodians</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%">&nbsp; </TD>
     <TD noWrap align=left width="34%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Mark C. Trenchard</FONT>&nbsp;&nbsp;&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Putnam Fiduciary Trust</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Jonathan S. Horwitz</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Vice President and</FONT></I>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Company, State Street Bank</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Senior Vice President</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="34%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>BSA Compliance Officer</FONT></I>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>and Trust Company</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>and Treasurer</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="34%"></TD></TR>
<TR>
     <TD noWrap align=left width="31%" background="">&nbsp;</TD>
     <TD noWrap align=left width="33%" background=""></TD>
     <TD noWrap align=left width="34%" background=""><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Judith Cohen</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Legal Counsel</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Steven D. Krichmar</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Vice President, Clerk and</FONT></I>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Ropes &amp; Gray LLP</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Vice President and</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="34%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Assistant Treasurer</FONT></I>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%">&nbsp; </TD>
     <TD noWrap align=left width="33%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Principal Financial Officer</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="34%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Trustees</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%">&nbsp; </TD>
     <TD noWrap align=left width="34%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Wanda M. McManus</FONT>&nbsp;&nbsp;&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>John A. Hill, </FONT><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Chairman</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="33%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Janet C. Smith</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Vice President, Senior Associate</FONT></I>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Jameson Adkins Baxter,</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Vice President, Principal</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="34%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Treasurer and Assistant Clerk</FONT></I>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Vice Chairman</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="33%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Accounting Officer and</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="34%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Charles B. Curtis</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Assistant Treasurer</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="34%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Nancy E. Florek</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Myra R. Drucker</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"></TD>
     <TD noWrap align=left width="34%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Vice President, Assistant Clerk,</FONT></I>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Charles E. Haldeman, Jr.</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Susan G. Malloy</FONT>&nbsp; </TD>
     <TD noWrap align=left width="34%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Assistant Treasurer and</FONT></I>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="31%"><FONT face=PGText-Light,Arial,Helvetica,sans-serif size=2>Paul L. Joskow</FONT>&nbsp; </TD>
     <TD noWrap align=left width="33%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Vice President and</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="34%"><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Proxy Manager</FONT></I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="31%" background=""></TD>
     <TD noWrap align=left width="33%" background=""><I><FONT face=PGText-LightItalic,Arial,Helvetica,sans-serif size=2>Assistant Treasurer</FONT></I>&nbsp; </TD>
     <TD noWrap align=left width="34%" background=""></TD></TR></TABLE><BR>
<P align=left><FONT face=PGText-Roman,Arial,Helvetica,sans-serif size=2>Call 1-800-225-1581 weekdays between 9:00 a.m. and 5:00 p.m. Eastern Time, or visit our Web site (www.putnam.com) anytime for up-to-date information about the fund&#146;s NAV.</FONT></P>
<HR align=center width="100%" noShade SIZE=2>


<!--$$/page=-->
<A name="page_59"></A>

<IMG src="highincomex59x1.jpg" border=0>
<BR>

<HR noshade align="center"width="100%"size=2>












































<!--$$/page=-->
<A name="page_1"></A>
<P align=left><U><FONT face=sans-serif size=2>Item 2. Code of Ethics:</FONT></U><FONT face=sans-serif size=2> </FONT><BR>
<BR>
<FONT face=sans-serif size=2>Not Applicable </FONT><BR>
<BR>
<U><FONT face=sans-serif size=2>Item 3. Audit Committee Financial Expert:</FONT></U><FONT face=sans-serif size=2> </FONT><BR>
<BR>
<FONT face=sans-serif size=2>Not Applicable </FONT><BR>
<BR>
<U><FONT face=sans-serif size=2>Item 4. Principal Accountant Fees and Services:</FONT></U><FONT face=sans-serif size=2> </FONT><BR>
<BR>
<FONT face=sans-serif size=2>Not Applicable </FONT><BR>
<BR>
<U><FONT face=sans-serif size=2>Item 5. Audit Committee</FONT></U><FONT face=sans-serif size=2> </FONT><BR>
<BR>
<FONT face=sans-serif size=2>Not Applicable </FONT><BR>
<BR>
<U><FONT face=sans-serif size=2>Item 6. Schedule of Investments:</FONT></U></P>
<P align=left><FONT face=sans-serif size=2>The registrant&#146;s schedule of investments in unaffiliated issuers is included in the report to shareholders in Item 1 above. </FONT></P>
<P align=left><U><FONT face=sans-serif size=2>Item 7. Disclosure of Proxy Voting Policies and Procedures For Closed-End Management</FONT></U><FONT face=sans-serif size=2> </FONT><U><FONT face=sans-serif size=2>Investment Companies:</FONT></U><FONT face=sans-serif size=2> </FONT></P>
<P align=left><FONT face=sans-serif size=2>Not applicable </FONT></P>
<P align=left><U><FONT face=sans-serif size=2>Item 8. Portfolio Managers of Closed-End Management Investment Companies</FONT></U><FONT face=sans-serif size=2> </FONT></P>
<P align=left><FONT face=sans-serif size=2>(a) Not applicable </FONT></P>
<P align=left><FONT face=sans-serif size=2>(b) There have been no changes to the list of the registrant&#146;s identified portfolio managers included in the registrant&#146;s report on Form N-CSR for the most recent completed fiscal year. </FONT></P>
<P align=left><U><FONT face=sans-serif size=2>Item 9. Purchases of Equity Securities by Closed-End Management Investment Companies and</FONT></U><BR><FONT face=sans-serif size=2> </FONT><U><FONT face=sans-serif size=2>Affiliated Purchasers:</FONT></U><FONT face=sans-serif size=2> </FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="54%" colSpan=3><FONT face=sans-serif size=2>Registrant Purchase of Equity Securities</FONT>&nbsp; </TD>
     <TD noWrap align=left width="21%">&nbsp; </TD>
     <TD noWrap align=left width="23%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%">&nbsp; </TD>
     <TD noWrap align=left width="20%">&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD>
     <TD noWrap align=left width="21%">&nbsp; </TD>
     <TD noWrap align=right width="23%"><FONT face=sans-serif size=2>Maximum</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=right width="18%">&nbsp; </TD>
     <TD noWrap align=left width="20%">&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD>
     <TD noWrap align=right width="21%"><FONT face=sans-serif size=2>Total Number</FONT>&nbsp; </TD>
     <TD noWrap align=right width="23%"><FONT face=sans-serif size=2>Number (or</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%">&nbsp; </TD>
     <TD noWrap align=left width="20%">&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD>
     <TD noWrap align=right width="21%"><FONT face=sans-serif size=2>of Shares</FONT>&nbsp; </TD>
     <TD noWrap align=right width="23%"><FONT face=sans-serif size=2>Approximate</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%">&nbsp; </TD>
     <TD noWrap align=left width="20%">&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD>
     <TD noWrap align=right width="21%"><FONT face=sans-serif size=2>Purchased</FONT>&nbsp; </TD>
     <TD noWrap align=right width="23%"><FONT face=sans-serif size=2>Dollar Value )</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%">&nbsp; </TD>
     <TD noWrap align=left width="20%">&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD>
     <TD noWrap align=right width="21%"><FONT face=sans-serif size=2>as Part</FONT>&nbsp; </TD>
     <TD noWrap align=right width="23%"><FONT face=sans-serif size=2>of Shares</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%">&nbsp; </TD>
     <TD noWrap align=left width="20%">&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD>
     <TD noWrap align=right width="21%"><FONT face=sans-serif size=2>of Publicly</FONT>&nbsp; </TD>
     <TD noWrap align=right width="23%"><FONT face=sans-serif size=2>that May Yet Be</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%">&nbsp; </TD>
     <TD noWrap align=right width="20%"><FONT face=sans-serif size=2>Total Number</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=sans-serif size=2>Average</FONT>&nbsp; </TD>
     <TD noWrap align=right width="21%"><FONT face=sans-serif size=2>Announced</FONT>&nbsp; </TD>
     <TD noWrap align=right width="23%"><FONT face=sans-serif size=2>Purchased</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%">&nbsp; </TD>
     <TD noWrap align=right width="20%"><FONT face=sans-serif size=2>of Shares</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=sans-serif size=2>Price Paid</FONT>&nbsp; </TD>
     <TD noWrap align=right width="21%"><FONT face=sans-serif size=2>Plans or</FONT>&nbsp; </TD>
     <TD noWrap align=right width="23%"><FONT face=sans-serif size=2>under the Plans</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%"><U><FONT face=sans-serif size=2>Period</FONT></U>&nbsp; </TD>
     <TD noWrap align=right width="20%"><U><FONT face=sans-serif size=2>Purchased</FONT></U>&nbsp; </TD>
     <TD noWrap align=right width="16%"><U><FONT face=sans-serif size=2>per Share</FONT></U>&nbsp; </TD>
     <TD noWrap align=right width="21%"><U><FONT face=sans-serif size=2>Programs</FONT></U>&nbsp; </TD>
     <TD noWrap align=right width="23%"><U><FONT face=sans-serif size=2>or Programs *</FONT></U>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>&nbsp; </TD></TR>
<TR>
     <TD width="98%" colSpan=5>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%"><FONT face=sans-serif size=2>September 1 -</FONT>&nbsp; </TD>
     <TD noWrap align=left width="20%">&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD>
     <TD noWrap align=left width="21%">&nbsp; </TD>
     <TD noWrap align=left width="23%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%"><FONT face=sans-serif size=2>September 30,</FONT>&nbsp; </TD>
     <TD noWrap align=left width="20%">&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD>
     <TD noWrap align=left width="21%">&nbsp; </TD>
     <TD noWrap align=left width="23%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%"><FONT face=sans-serif size=2>2006</FONT>&nbsp; </TD>
     <TD noWrap align=right width="20%"><FONT face=sans-serif size=2>60,874</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=sans-serif size=2>$7.99</FONT>&nbsp; </TD>
     <TD noWrap align=right width="21%"><FONT face=sans-serif size=2>60,874</FONT>&nbsp; </TD>
     <TD noWrap align=right width="23%"><FONT face=sans-serif size=2>1,287,771</FONT>&nbsp; </TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

<!--$$/page=-->
<A name="page_2"></A>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%"><FONT face=sans-serif size=2>October 1 -</FONT>&nbsp; </TD>
     <TD noWrap align=left width="19%">&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD>
     <TD noWrap align=left width="21%">&nbsp; </TD>
     <TD noWrap align=left width="23%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%"><FONT face=sans-serif size=2>October 31,</FONT>&nbsp; </TD>
     <TD noWrap align=left width="19%">&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD>
     <TD noWrap align=left width="21%">&nbsp; </TD>
     <TD noWrap align=left width="23%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%"><FONT face=sans-serif size=2>2006</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=sans-serif size=2>8,400</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=sans-serif size=2>$8.13</FONT>&nbsp; </TD>
     <TD noWrap align=right width="21%"><FONT face=sans-serif size=2>8,400</FONT>&nbsp; </TD>
     <TD noWrap align=right width="23%"><FONT face=sans-serif size=2>1,279,371</FONT>&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="18%" background=""></TD>
     <TD noWrap align=left width="19%" background=""></TD>
     <TD noWrap align=left width="16%" background=""></TD>
     <TD noWrap align=left width="21%" background=""></TD>
     <TD noWrap align=left width="23%" background=""></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%"><FONT face=sans-serif size=2>November 1 -</FONT>&nbsp; </TD>
     <TD noWrap align=left width="19%">&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD>
     <TD noWrap align=left width="21%">&nbsp; </TD>
     <TD noWrap align=left width="23%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%"><FONT face=sans-serif size=2>November 30,</FONT>&nbsp; </TD>
     <TD noWrap align=left width="19%">&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD>
     <TD noWrap align=left width="21%">&nbsp; </TD>
     <TD noWrap align=left width="23%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%"><FONT face=sans-serif size=2>2006</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=sans-serif size=2>-</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=sans-serif size=2>-</FONT>&nbsp; </TD>
     <TD noWrap align=right width="21%"><FONT face=sans-serif size=2>-</FONT>&nbsp; </TD>
     <TD noWrap align=right width="23%"><FONT face=sans-serif size=2>1,279,371</FONT>&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="18%" background=""></TD>
     <TD noWrap align=left width="19%" background=""></TD>
     <TD noWrap align=left width="16%" background=""></TD>
     <TD noWrap align=left width="21%" background=""></TD>
     <TD noWrap align=left width="23%" background=""></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%"><FONT face=sans-serif size=2>December 1 -</FONT>&nbsp; </TD>
     <TD noWrap align=left width="19%">&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD>
     <TD noWrap align=left width="21%">&nbsp; </TD>
     <TD noWrap align=left width="23%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%"><FONT face=sans-serif size=2>December 31,</FONT>&nbsp; </TD>
     <TD noWrap align=left width="19%">&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD>
     <TD noWrap align=left width="21%">&nbsp; </TD>
     <TD noWrap align=left width="23%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%"><FONT face=sans-serif size=2>2006</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=sans-serif size=2>-</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=sans-serif size=2>-</FONT>&nbsp; </TD>
     <TD noWrap align=right width="21%"><FONT face=sans-serif size=2>-</FONT>&nbsp; </TD>
     <TD noWrap align=right width="23%"><FONT face=sans-serif size=2>1,279,371</FONT>&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="18%" background=""></TD>
     <TD noWrap align=left width="19%" background=""></TD>
     <TD noWrap align=left width="16%" background=""></TD>
     <TD noWrap align=left width="21%" background=""></TD>
     <TD noWrap align=left width="23%" background=""></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%"><FONT face=sans-serif size=2>January 1 -</FONT>&nbsp; </TD>
     <TD noWrap align=left width="19%">&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD>
     <TD noWrap align=left width="21%">&nbsp; </TD>
     <TD noWrap align=left width="23%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%"><FONT face=sans-serif size=2>January 31,</FONT>&nbsp; </TD>
     <TD noWrap align=left width="19%">&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD>
     <TD noWrap align=left width="21%">&nbsp; </TD>
     <TD noWrap align=left width="23%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%"><FONT face=sans-serif size=2>2007</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=sans-serif size=2>-</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=sans-serif size=2>-</FONT>&nbsp; </TD>
     <TD noWrap align=right width="21%"><FONT face=sans-serif size=2>-</FONT>&nbsp; </TD>
     <TD noWrap align=right width="23%"><FONT face=sans-serif size=2>1,279,371</FONT>&nbsp; </TD></TR>
<TR>
     <TD noWrap align=left width="18%" background=""></TD>
     <TD noWrap align=left width="19%" background=""></TD>
     <TD noWrap align=left width="16%" background=""></TD>
     <TD noWrap align=left width="21%" background=""></TD>
     <TD noWrap align=left width="23%" background=""></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%"><FONT face=sans-serif size=2>February 1 -</FONT>&nbsp; </TD>
     <TD noWrap align=left width="19%">&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD>
     <TD noWrap align=left width="21%">&nbsp; </TD>
     <TD noWrap align=left width="23%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%"><FONT face=sans-serif size=2>February 28,</FONT>&nbsp; </TD>
     <TD noWrap align=left width="19%">&nbsp; </TD>
     <TD noWrap align=left width="16%">&nbsp; </TD>
     <TD noWrap align=left width="21%">&nbsp; </TD>
     <TD noWrap align=left width="23%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="18%"><FONT face=sans-serif size=2>2007</FONT>&nbsp; </TD>
     <TD noWrap align=right width="19%"><FONT face=sans-serif size=2>-</FONT>&nbsp; </TD>
     <TD noWrap align=right width="16%"><FONT face=sans-serif size=2>-</FONT>&nbsp; </TD>
     <TD noWrap align=right width="21%"><FONT face=sans-serif size=2>-</FONT>&nbsp; </TD>
     <TD noWrap align=right width="23%"><FONT face=sans-serif size=2>1,279,371</FONT>&nbsp; </TD></TR></TABLE><BR>
<P align=left><FONT face=sans-serif size=2>The Board of Trustees announced a repurchase plan on October 7, 2005 for which </FONT><B><FONT face=sans-serif size=2>1,125,978</FONT></B><FONT face=sans-serif size=2> shares were approved for repurchase by the fund. The repurchase plan was approved through </FONT><FONT face=sans-serif size=2>October 6, 2006</FONT><FONT face=sans-serif size=2>. . On March 10, 2006, the Trustees announced that the repurchase program was increased to allow repurchases of up to a total of 2,251,955 shares over the original term of the program. On September 15, 2006, the Trustees voted to extend the term of the repurchase program through October 6, 2007. This extension did not affect the number of shares eligible for repurchase under the program. </FONT></P>
<P align=left><FONT face=sans-serif size=2>*Information is based on the total number of shares eligible for repurchase under the program, as amended through September 15, 2006.</FONT></P>
<P align=left><U><FONT face=sans-serif size=2>Item 10. Submission of Matters to a Vote of Security Holders:</FONT></U><FONT face=sans-serif size=2> </FONT><BR>
<BR>
<FONT face=sans-serif size=2>Not applicable </FONT><BR>
<BR>
<U><FONT face=sans-serif size=2>Item 11. Controls and Procedures:</FONT></U><FONT face=sans-serif size=2> </FONT></P>
<P align=left><FONT face=sans-serif size=2>(a) The registrant's principal executive officer and principal financial officer have concluded, based on their evaluation of the effectiveness of the design and operation of the registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the design and operation of such procedures are generally effective to provide reasonable assurance that information required to be disclosed by the registrant in this report is recorded, processed, summarized and reported within the time periods specified in the Commission's rules and forms. </FONT></P>
<P align=left><FONT face=sans-serif size=2>(b) Changes in internal control over financial reporting: </FONT><FONT face=sans-serif size=2>Effective January 1, 2007, the fund retained State Street Bank and Trust Company ("State Street") as its custodian. Putnam Fiduciary Trust Company, the fund's previous custodian, is managing the transfer of the fund's assets to State Street. This transfer is expected to be completed for all Putnam funds during the first half of 2007, with PFTC remaining as custodian with respect to fund assets until the assets are transferred.&nbsp; </FONT><FONT face=sans-serif size=2>Also effective January 1, 2007, the fund's investment manager, Putnam Investment Management, LLC entered into a Master Sub-Accounting Services Agreement with State Street, under which the investment manager has delegated to State Street responsibility for providing certain administrative, pricing, and bookkeeping services for the fund. </FONT></P>
<HR align=center width="100%" noShade SIZE=2>


<!--$$/page=-->
<A name="page_3"></A>

<P align="left">
<U><FONT size=2 face="sans-serif">Item 12. Exhibits:</FONT></U><FONT size=2 face="sans-serif"> </FONT><BR>
<BR>
<FONT size=2 face="sans-serif">(a)(1) Not applicable </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">(a)(2) Separate certifications for the principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended, are filed
herewith. </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">(b) The certifications required by Rule 30a-2(b) under the Investment Company Act of 1940, as amended, are filed herewith. </FONT></P>
<P align="left">
<U><FONT size=2 face="sans-serif">SIGNATURES</FONT></U><FONT size=2 face="sans-serif"> </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized. </FONT></P>
<P align="left">
<U><FONT size=2 face="sans-serif">Putnam High Income Strategies Fund</FONT></U><FONT size=2 face="sans-serif"> </FONT><BR>
<BR>
<FONT size=2 face="sans-serif">By (Signature and Title): </FONT><BR>
<BR>
<U><FONT size=2 face="sans-serif">/s/Janet C. Smith</FONT></U><FONT size=2 face="sans-serif"> </FONT><BR>
<FONT size=2 face="sans-serif">Janet C. Smith </FONT><BR>
<FONT size=2 face="sans-serif">Principal Accounting Officer </FONT><BR>
<BR>
<FONT size=2 face="sans-serif">Date: April 27, 2007 </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities
and on the dates indicated. </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">By (Signature and Title): </FONT><BR>
<BR>
<U><FONT size=2 face="sans-serif">/s/Charles E. Porter</FONT></U><FONT size=2 face="sans-serif"> </FONT><BR>
<FONT size=2 face="sans-serif">Charles E. Porter </FONT><BR>
<FONT size=2 face="sans-serif">Principal Executive Officer </FONT><BR>
<BR>
<FONT size=2 face="sans-serif">Date: April 27, 2007 </FONT><BR>
<FONT size=2 face="sans-serif">By (Signature and Title): </FONT><BR>
<BR>
<U><FONT size=2 face="sans-serif">/s/Steven D. Krichmar</FONT></U><FONT size=2 face="sans-serif"> </FONT><BR>
<FONT size=2 face="sans-serif">Steven D. Krichmar </FONT><BR>
<FONT size=2 face="sans-serif">Principal Financial Officer </FONT><BR>
<BR>
<FONT size=2 face="sans-serif">Date: April 27, 2007</FONT><FONT face="sans-serif"> </FONT></P>

<HR noshade align="center"width="100%"size=2>





























</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>b_cert.htm
<DESCRIPTION>EX-99.CERT
<TEXT>

<HTML>
<HEAD>
   <TITLE>b_cert.htm</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

<!--$$/page=-->
<A name="page_1"></A>
<P align=left><U><FONT face=sans-serif size=2>Certifications</FONT></U><FONT face=sans-serif size=2> </FONT></P>
<P align=left><FONT face=sans-serif size=2>I, Charles E. Porter, the Principal Executive Officer of the funds listed on Attachment A, certify that: </FONT></P>
<P align=left><FONT face=sans-serif size=2>1. I have reviewed each report on Form N-CSR of the funds listed on Attachment A: </FONT></P>
<P align=left><FONT face=sans-serif size=2>2. Based on my knowledge, each report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by each report;</FONT></P>
<P align=left><FONT face=sans-serif size=2>3. Based on my knowledge, the financial statements, and other financial information included in each report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in each report; </FONT></P>
<P align=left><FONT face=sans-serif size=2>4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: </FONT></P>
<P align=left><FONT face=sans-serif size=2>a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which each report is being prepared; </FONT></P>
<P align=left><FONT face=sans-serif size=2>b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; </FONT></P>
<P align=left><FONT face=sans-serif size=2>c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of each report based on such evaluation; and </FONT></P>
<P align=left><FONT face=sans-serif size=2>d) disclosed in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the registrant&#146;s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and </FONT></P>
<P align=left><FONT face=sans-serif size=2>5. The registrant's other certifying officer and I have disclosed to each registrant's auditors and the audit committee of each registrant's board of directors (or persons performing the equivalent functions): </FONT></P>
<P align=left><FONT face=sans-serif size=2>a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect each registrant's ability to record, process, summarize, and report financial information; and </FONT></P>
<P align=left><FONT face=sans-serif size=2>b) any fraud, whether or not material, that involves management or other employees who have a significant role in each registrant's internal control over financial reporting. </FONT></P>
<P align=left><FONT face=sans-serif size=2>Date: April 26, 2007 </FONT><BR>
<BR>
<FONT face=sans-serif size=2>/s/ Charles E. Porter </FONT><BR>
<FONT face=sans-serif size=2>_______________________ </FONT><BR>
<FONT face=sans-serif size=2>Charles E. Porter </FONT><BR>
<FONT face=sans-serif size=2>Principal Executive Officer </FONT></P>
<HR align=center width="100%" noShade SIZE=2>


<!--$$/page=-->
<A name="page_2"></A>

<P align="left">
<U><FONT size=2 face="sans-serif">Certifications</FONT></U><FONT size=2 face="sans-serif"> </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">I, Steven D. Krichmar, the Principal Financial Officer of the funds listed on Attachment A, certify that: </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">1. I have reviewed each report on Form N-CSR of the funds listed on Attachment A: </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">2. Based on my knowledge, each report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by each report;</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">3. Based on my knowledge, the financial statements, and other financial information included in each report, fairly present in all material respects the financial condition, results of operations, changes in net
assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in each report; </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal
control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its
consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which each report is being prepared; </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within
90 days prior to the filing date of each report based on such evaluation; and </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">d) disclosed in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the registrant&#146;s most recent fiscal quarter that has materially affected, or is
reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">5. The registrant's other certifying officer and I have disclosed to each registrant's auditors and the audit committee of each registrant's board of directors (or persons performing the equivalent functions):
</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect each registrant's ability to record,
process, summarize, and report financial information; and </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">b) any fraud, whether or not material, that involves management or other employees who have a significant role in each registrant's internal control over financial reporting. </FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">Date: April 26, 2007 </FONT><BR>
<BR>
<FONT size=2 face="sans-serif">/s/ Steven D. Krichmar </FONT><BR>
<FONT size=2 face="sans-serif">_______________________ </FONT><BR>
<FONT size=2 face="sans-serif">Steven D. Krichmar </FONT><BR>
<FONT size=2 face="sans-serif">Principal Financial Officer </FONT></P>

<HR noshade align="center"width="100%"size=2>


<!--$$/page=-->
<A name="page_3"></A>
<P align=center><FONT face=sans-serif size=2>Attachment A </FONT><BR>
<FONT face=sans-serif size=2>N-CSR </FONT><BR>
<FONT face=sans-serif size=2>Period (s) ended February 28, 2007 </FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="8%"><FONT face=sans-serif size=2>29X</FONT>&nbsp; </TD>
     <TD noWrap align=left width="91%"><FONT face=sans-serif size=2>Putnam Floating Rate Income Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="8%"><FONT face=sans-serif size=2>7BF</FONT>&nbsp; </TD>
     <TD noWrap align=left width="91%"><FONT face=sans-serif size=2>Putnam Income Strategies Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="8%"><FONT face=sans-serif size=2>2MF</FONT>&nbsp; </TD>
     <TD noWrap align=left width="91%"><FONT face=sans-serif size=2>Putnam Small Cap Value Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="8%"><FONT face=sans-serif size=2>061</FONT>&nbsp; </TD>
     <TD noWrap align=left width="91%"><FONT face=sans-serif size=2>Putnam High Income Securities Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="8%"><FONT face=sans-serif size=2>274</FONT>&nbsp; </TD>
     <TD noWrap align=left width="91%"><FONT face=sans-serif size=2>Putnam New Value Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="8%"><FONT face=sans-serif size=2>014</FONT>&nbsp; </TD>
     <TD noWrap align=left width="91%"><FONT face=sans-serif size=2>Putnam High Yield Trust</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="8%"><FONT face=sans-serif size=2>021</FONT>&nbsp; </TD>
     <TD noWrap align=left width="91%"><FONT face=sans-serif size=2>Putnam Health Sciences Trust</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="8%"><FONT face=sans-serif size=2>2AZ</FONT>&nbsp; </TD>
     <TD noWrap align=left width="91%"><FONT face=sans-serif size=2>Putnam International Capital Opportunities Fund</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="8%"><FONT face=sans-serif size=2>018</FONT>&nbsp; </TD>
     <TD noWrap align=left width="91%"><FONT face=sans-serif size=2>Putnam Global Natural Resources Fund</FONT>&nbsp; </TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.906 CERT
<SEQUENCE>3
<FILENAME>c_certnos.htm
<DESCRIPTION>EX-99.906 CERT
<TEXT>

<HTML>
<HEAD>
   <TITLE>c_certnos.htm</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">


<A name="page_1"></A>
<P align=left><U><FONT face=sans-serif size=1><FONT size=2>Section 906 Certifications</FONT></FONT></U><FONT face=sans-serif size=1></FONT></P>
<P align=left><FONT face=sans-serif size=1><FONT size=2>I, Charles E. Porter, the Principal Executive Officer of the Funds listed on Attachment A, certify that, to my knowledge: <BR>
<BR>
1. The form N-CSR of the Funds listed on Attachment A for the period ended February 28, 2007 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</FONT></FONT></P>
<P align=left><FONT face=sans-serif size=1><FONT size=2>2. The information contained in the Form N-CSR of the Funds listed on Attachment A for the period ended February 28, 2007 fairly presents, in all material respects, the financial condition and results of operations of the Funds listed on Attachment A.</FONT></FONT></P>
<P align=left><FONT face=sans-serif size=1><FONT size=2>Date: April 26, 2007</FONT></FONT> <BR>
<BR>
<FONT face=sans-serif size=1><FONT size=2>/s/ Charles E. Porter</FONT></FONT> <BR>
<FONT face=sans-serif size=1><FONT size=2>______________________</FONT></FONT> <BR>
<FONT face=sans-serif size=1><FONT size=2>Charles E. Porter</FONT></FONT> <BR>
<FONT face=sans-serif size=1><FONT size=2>Principal Executive Officer</FONT></FONT></P>
<HR align=center width="100%" noShade SIZE=2>


<A name="page_2"></A>
<P align=left><U><FONT face=sans-serif size=1><FONT size=2>Section 906 Certifications</FONT></FONT></U></P>
<P align=left><FONT face=sans-serif size=1><FONT size=2>I, Steven D. Krichmar, the Principal Financial Officer of the Funds listed on Attachment A, certify that, to my knowledge:<BR>
<BR>
1. The form N-CSR of the Funds listed on Attachment A for the period ended February 28, 2007 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</FONT></FONT></P>
<P align=left><FONT face=sans-serif size=1><FONT size=2>2. The information contained in the Form N-CSR of the Funds listed on Attachment A for the period ended February 28, 2007 fairly presents, in all material respects, the financial condition and results of operations of the Funds listed on Attachment A.</FONT></FONT></P>
<P align=left><FONT face=sans-serif size=1><FONT size=2>Date: April 26, 2007</FONT></FONT> <BR>
<BR>
<FONT face=sans-serif size=1><FONT size=2>/s/ Steven D. Krichmar</FONT></FONT> <BR>
<FONT face=sans-serif size=1><FONT size=2>______________________</FONT></FONT> <BR>
<FONT face=sans-serif size=1><FONT size=2>Steven D. Krichmar</FONT></FONT> <BR>
<FONT face=sans-serif size=1><FONT size=2>Principal Financial Officer</FONT></FONT></P>
<HR align=center width="100%" noShade SIZE=2>


<A name="page_3"></A>
<P align=center><FONT face=sans-serif size=1><FONT size=2>Attachment A</FONT></FONT> <BR>
<FONT face=sans-serif size=1><FONT size=2>N-CSR</FONT></FONT> <BR>
<FONT face=sans-serif size=1><FONT size=2>Period (s) ended February 28, 2007</FONT></FONT></P>
<TABLE cellSpacing=1 cellPadding=0 width="80%" border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="8%"><FONT face=sans-serif size=1><FONT size=2>29X&nbsp;</FONT></FONT></TD>
     <TD noWrap align=left width="91%"><FONT face=sans-serif size=1><FONT size=2>Putnam Floating Rate Income Fund&nbsp;</FONT></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="8%"><FONT face=sans-serif size=1><FONT size=2>7BF&nbsp;</FONT></FONT></TD>
     <TD noWrap align=left width="91%"><FONT face=sans-serif size=1><FONT size=2>Putnam Income Strategies Fund&nbsp;</FONT></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="8%"><FONT face=sans-serif size=1><FONT size=2>2MF&nbsp;</FONT></FONT></TD>
     <TD noWrap align=left width="91%"><FONT face=sans-serif size=1><FONT size=2>Putnam Small Cap Value Fund&nbsp;</FONT></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="8%"><FONT face=sans-serif size=1><FONT size=2>061&nbsp;</FONT></FONT></TD>
     <TD noWrap align=left width="91%"><FONT face=sans-serif size=1><FONT size=2>Putnam High Income Securities Fund&nbsp;</FONT></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="8%"><FONT face=sans-serif size=1><FONT size=2>274&nbsp;</FONT></FONT></TD>
     <TD noWrap align=left width="91%"><FONT face=sans-serif size=1><FONT size=2>Putnam New Value Fund&nbsp;</FONT></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="8%"><FONT face=sans-serif size=1><FONT size=2>014&nbsp;</FONT></FONT></TD>
     <TD noWrap align=left width="91%"><FONT face=sans-serif size=1><FONT size=2>Putnam High Yield Trust&nbsp;</FONT></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="8%"><FONT face=sans-serif size=1><FONT size=2>021&nbsp;</FONT></FONT></TD>
     <TD noWrap align=left width="91%"><FONT face=sans-serif size=1><FONT size=2>Putnam Health Sciences Trust&nbsp;</FONT></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="8%"><FONT face=sans-serif size=1><FONT size=2>2AZ&nbsp;</FONT></FONT></TD>
     <TD noWrap align=left width="91%"><FONT face=sans-serif size=1><FONT size=2>Putnam International Capital Opportunities Fund&nbsp;</FONT></FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="8%"><FONT face=sans-serif size=1><FONT size=2>018&nbsp;</FONT></FONT></TD>
     <TD noWrap align=left width="91%"><FONT face=sans-serif size=1><FONT size=2>Putnam Global Natural Resources Fund&nbsp;</FONT></FONT></TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>highincomex59x1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 highincomex59x1.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#`!`+#`X,"A`.#0X2$1`3&"@:&!86
M&#$C)1TH.C,]/#DS.#=`2%Q.0$1713<X4&U15U]B9VAG/DUQ>7!D>%QE9V/_
MVP!#`1$2$A@5&"\:&B]C0CA"8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C
M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V/_P``1"`-N`D8#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P"W1117C'L!
M1110`44"EH`04M%%*X@HHI:D`HHHH`2BBEH`2BEI*`"BBB@`HHHH`****`"B
MBB@`HHHH`****8!1110`4444`%%%%`!1110`4444`%%%%`!1112&%%%%`!12
MT4@`44"B@04M)2T@$HHHH`***6D,2BEHH`2EHHH`04M%%`!1110`4444""BB
MB@&+1110(***6@!**6B@8E%+10!%12T5L,2@57NQN>W3<P5I,':Q4GY6/4?2
ME^QQ?WI_^_[_`.-.R6Y-WT+%%5_L<?\`>G_[_O\`XTOV.+^]/_W_`'_QI>Z&
MI/0*@%G%_>G_`._[_P"-+]CB_O3_`/?]_P#&I]T-2>BH/L<7]Z?_`+_O_C1]
MCB_O3_\`?]_\:?N]PU)Z*K_8XO[T_P#W_?\`QH^QQ?WI_P#O^_\`C1[O<-2Q
M15:T&U[A-SE5D`&YBQ'RJ>I^M6:35@3N)2T44A@:2EHH`2BEHH`2EHI*`%I*
M6B@!*6BDH`****`"BBBF`4444`%%%%`!1112`****`"BEHHN`4444F`48HHI
M`+1244`%%%%`!2BBBD,****`"BBB@`HHHH`****!!1110`444M`!1110(**6
MB@!**6B@`HHHH`**,48H`**,44`1T445J,KW'^NM?^NI_P#0&JQ4%S_KK7_K
MJ?\`T!JL8IR>B$MV)4%\[QVCM'NW<#*C)`)`)'X59Q3)E5XF5V95[E6*D?C4
MIZJX/8H021K=Q+;-<,K9$@D#D8P2#\W?/\ZTJS[5K=KH+;RW$Q7[S>8S(.#U
MR<&M#%54W)AL%)2TE06%%%%`%>V_U]U_UU'_`*`M6*KVW^ONO^NH_P#0%JQ5
M2W%'8****D84444`%%%+0`E%+24`%%%%`!24M)0`4444`%%%%`!1110`4448
MH`**444`%%%%(`I:*2D`M%)10`444M`"44M%(84444`%%%%`!1110(**,48H
M`***6@`HHHH$)12XHH`,48I:*`$I:*`*`"C%+BB@!,4N***`"C%+12$%%%%`
M!1110!#12BBM+E$%Q_K[3_KJ?_0&J>H+G_7VG_74_P#H#5/1+9"6[%JMJ!_T
M*3]V).@VE2PZCG`].OX59J&[E>"W,B+N(*\8)XR,\#VS1'XD$MF9^E@)<$+)
M)DG;AHFVLH'!!/W>I[UKU0AOWFNEC6-MAD(R8V'R[<YR??BKU75NW=DPM;0#
M24M)69845F@23^:&F_=K(^`)"K,<X`]@/;K5^$,L,8D;<X4!F]3CK5RC8E2N
M16W^ONO^NH_]`6K%06W^ON_^NH_]`6IZ);CCL&***6I&)12T4@"BBB@!****
M8!111F@`S2444`%%%%`!12XI,4`%%%+0`"BBBD`4M%%(`HHHH`*2EHQ0`E+B
MC%%(84444""BBB@`HHHH`****`%HHHH$%%%%`!BC%+10`4444`%%+BC%`""E
MHQ2T`)BBEHI""BBB@84444""BBEQ0`E%&**`"BBB@".BBBJ**]S_`*^T_P"N
MI_\`0&JQ5>Y_U]I_UU/_`*`U%Y(T:QJC;&E<)OQG;P3G]*NU[(F]KEBH+SS!
M:N8MVX8/R]<9&<?AFHX'=+OR&F,RLA<,<9&"`1Q]:GGD,,+.$+D=%!`)_.BU
MI(+W13CD6;4%>WN'D4DEU!.U!MQC'3.>?7K6@:SK.\FNKMED98@B@^4!R<YX
M.>>/:M&JJ*SLQ0U5Q****@LRI4AMC(TNG>;ND8AV"$L2<\<YK3B`$2838-H^
M7^[[5G%7:Z,PNTR69$#0D[,9R!S[=:T('\R"-]V[<H.0,9X]*UJ;+_@F<-R.
MV_U]W_UU'_H"U/4%M_K[O_KJ/_0%JQ6<MRX[!1114C"BBBD`444E,`HHHI@)
MFEHQ10`E%%+B@!**7%&*`"BBBD`44M&*0!1110`4444`%%%%(84444""BBB@
M`I:**`"BBB@04444#"BC%&*`"BC%%`A:**6@!**7%%`!BBBEH`***!2$%%%%
M`!111B@`HI<48H`2EHQ13`,4444""BEHH`3%%.HH`@HHHIED%S_KK3_KJ?\`
MT!JBU%OE@4PK,&EP4(!S\I]:EN?]=:?]=3_Z`U%U'*ZQF'&Y'#;2<!N#QG\:
MU3LT0]F1VB*LA(L!;G'W@$Y]N#3M27=9,-VWYDY]/F%);V\T4^]Y2X9/GRQP
M6SV'8"GWS*MJ^]-X.`%)QDD@#GMSBB_OIA;W65XQ$+U5:ZFED0G`=1C..1G;
MUQ[U>JA%$UO/;QRB-@2VPH"-K8R>I.>,\]?SK0I3WT"!EP-/)<2QF_<JAX=5
M3!]NG6M.L<R6LUPL%M90*S,5W2Q@8XS]WKV]JV:JKI85-F+)9%]1>+S%4L3(
MNT.<9ZYPPQU_&M:&/RH8XQC"*%X]A68@M6DF9X+G>96#&/S"#@D=JU8@OE)M
M#!=HQNSG\<\TZK;23%32U:(;;_7W?_74?^@+5BJ]O_K[O_KJ/_0%JQ64MS2.
MP4445(PHHHH`2BBBF`4444P$I:**`"BBBBX!12TE*X"T4E+2`****`"BBBD,
M****!!1110`44M%`!112T"$HI:*`"DI:*`$HI:*`$I:,4HH`2C%+2T`)12T4
M""BBB@`HI:*0"4"EHH`****8!1110(****`"BE%%`!B@4M&*`"C%*!2XH$)1
M3L44`5:***9H5[C_`%]I_P!=3_Z`U,U'>%@9)%CVRY9VZ*-IZ\BGW'^OM/\`
MKJ?_`$!J2^3S!"!*(V$@*[DW`G!XQ^OX5K'=$/9B6TCF<H]S'-\N["1XQ[YR
M:=J#I'92-(H9>`03CJ<=>W7K5?3-L3O"LZ.!N;`B*Y.>2#GD#I^5:!`(P1D4
M2M&7]((ZQ,W3I8993ON!).A*J#*&&,9RO`S]?8UI4SY$=0$Y;T7I]:?4S=W<
M<596,NX6YGF$.+69P?F;RV'ECZ[N#]*U*Q;..)K:-_L5V6<;BR2D`D]_OUMU
M=72R)I]S."W7[R-<Q*'=]Z;<MSD`?US5V$N8(S+C>5&['3..:S/)+7!1;M(V
M65W5'A()W9SC)YZ]JT[>+R;>*+.[8@7.,9P,45+6"%R*V_U]W_UU'_H"U8JO
M;?Z^[_ZZC_T!:L5G+<N.P4445(P-%&:2F`4444P"BC%&*0!12T47`****0!1
M110`4444AA1110(****`N%%%**`"BBEH$)2T44`%%%%`!BBEHH`2BEHH`2@4
MM%`!12T4A!1113`***6@!**6B@`HHHH`****!!112T`%%&**`%Q12T8H`3%&
M*7%`%`A,4H%+BEQ0`F*6BEQ3$%%&**`*E%+13-2O<_Z^T_ZZG_T!JAU5T6",
M.57=(`'8D!#@\\$'MC\:FN?]?:?]=3_Z`U-OA,T:"%7;Y_G",%.W!Z'([XK2
M.Z(>S*NF21SS;Q)$&2,QK%&>@!Z_C@?I5R]5'MG$DBQKP=S=!SQFF6+W&P1W
M$+J5S\[,IR,\#@]<58EW>6=B*[=E8X!_'!HF_?T"*]TH6Z6[744B7"3398NR
M<DY'0X/"^WTK2JFD4TEQ%))#'"(\GY'W%LC&.@XJY2F[L<49)GBC3_1=0:61
M?N194AO;`%:U9=L;Z)U:2WF?*?.#(I&[(Y'/`ZUIU52Q,#(ODN6E(G$<Z,_[
MJ$.1D=L@#^9Q6I&"(U!4*0!D#H*SI+><74LJ)>;F.-RO'C';&>0*T8MWE)NW
M;MHSNQG\<<45'H@ANR*V_P!?=_\`74?^@+5BJ]M_K[O_`*ZC_P!`6IZB6Y<=
MA:2BBIL,****`"EHH%%P"BBBD`4M)11<`HHHI#"BBB@`HI:2@5PH%%+0`48H
M%+0(04M%+B@!O>EI<44@"DIU%`#:6EHH`2EHHH`****!!12BB@!**6BG8!*6
MBB@`HHHH`**6B@0E+110`4"C%+B@!*7%&*,4`&*,4M**!"8I:,4N*`$Q2T4M
M`F)2XHI:8A,4M+10%Q**,44`4Z***9L5[L[7MGVN564D[5+$#8PZ#ZBE^V1?
MW9_^_#_X58HJKJVHK/H5_MD7]V?_`+\/_A1]LB_NS_\`?A_\*L4E'N]@U(/M
MD7]V?_OP_P#A1]LB_NS_`/?A_P#"IZ*+Q[!J0?;(O[L__?A_\*3[9%_<G_[\
M/_A5BEH]WL&I7^V1?W9_^_#_`.%'VR+^[/\`]^'_`,*GHH]WL&I6M#N>X?:X
M5I`1N4J3\BCH?I5BEHI-Z@E82BEQ12N,****`"@444@"BBB@84444@"BBB@`
MHHI:!!112T"#%&*6EH`;BBG4E`"4HHQ10`M%%%(`HHHH`****!!1113`*!2T
M46$%%%+0`E%+24`%+10*`"BEQ1B@!**6B@!*6BC%`!2XHI:!!BC%+2XH`;BE
MQ2XHQ3%<04N*7%%`"8HQ3J*!"8HQ2T4`%%&*6@0E%+13L!2HHHH-PI*6DH`*
M*,44`%%%%`!1FBB@`I*7%&*`"EHHH`2B@T4``HHHI`%%%%`!1112&%+110(2
MBEHH`**6B@0"M+0O^/Q_^N9_F*SJTM#_`./Q_P#KF?YBM:'\1&=7X&;M%%%>
MT>:%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!535
M/^0?+^'\Q5NJFJ?\@^7\/YBLZO\`#EZ,J'Q(Y^C%.Q17B'HB4M&*7%`!12XH
MQ3%<**4"C%`KB4HI0*,4`%&*,4M.PA,48I:*+`)BEHHHL`4444`%%%%`%*BB
MDH-Q:2B@T`%%)10`44M&*`"BBB@`S2TF*6@`I*6DH`****0!1112`****!A1
M12XH$%%%+0(*,4M+0`F*,4M%(`K1T/\`X_'_`.N9_F*SJT=#_P"/Q_\`KF?Y
MBMJ'\1&57X&;M%%%>T><%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11
M10`4444`%%%%`!534_\`CPE_#^8JW574O^/&3\/YBLZOP2]&5#XD8-&*7%+7
MBGH7&BEI<44"$HIU`%``*7%%%,04444`%%+24`%%%+0`4E+24`%%%%`!1110
M!1HHHH-Q****0"T448I@%%%%`!1110`4M)2T`)1112`****`"BBEI`)2T8HH
M`,4N*!2T"$Q2XI:*0!1110(****`"M'0_P#C\?\`ZYG^8K.K1T3_`(_'_P"N
M9_F*VH?Q$9U?@9NT445[1YP4444`%%%%`!1110`4444`%%%%`!1110`4444`
M%%%%`!1110`4444`%5=1_P"/&3\/YBK55M1_X\I/P_F*SJ_!+T*A\2,/%+BB
MBO&.X***6@!,48I:*`$HI:*`$I:**`"BBB@`HHHH`*2EHH`2BBB@`HHHH`HT
M444&X4444@`4M(*6F`E%+10`4E+24F`4444`%%%%(84M`HH$`I<4"E%`@`HQ
M2T4@"BBEH$)12T4`)12T4`%%%%`!6CHG_'X__7,_S%9U:.B?\?C_`/7,_P`Q
M6U#^(C.K\#-RBBBO:/."BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH
MH`****`"BBB@`JMJ'_'E)^'\Q5FJVH?\>4GX?S%15^!^A4/B1BXHI:*\8[A*
M*6B@!**6B@!***6@!**6B@!**6B@!**6BD`E%+24`%%%%`!1110!0HHHI&X"
MB@4M,!*6BB@`I*6DI,`HHHI#"BBEH$)2T8HQ0`M**3%+B@04M%%(044"EH`!
M1110`4444`%%%%`!112T""M#1/\`C[?_`*YG^8JA6AHO_'V__7,_S%;4/XB,
MZOP,VZ***]H\\****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH
M`****`"JVH?\><GX?S%6:K7_`/QYR?A_,5%7X'Z%1^)&-1117C'8%%%%`!11
M104)2T44`%%%%`!1110`4444`(:6DI:0"44M)0`4444`4****1N`HHHH`***
M*0!2T44`PHI:,4"$Q2XJS8QH\Q#J&.TE%8X#-Z58U"%(H@2B1R,P(5?3:,_K
M6BIMPYR'-*7*9]+1161844"EH$)0*6B@`HHHH`***OP(5M8VAMDG9B0Y9=V/
M0>U7"',R92L4I(WB<I(,,.HIM37B)'=2+']T'IG./45%BE)6DT"=U<2BEQ2@
M4AB8I:,44`+VJ_HP_P!+?_</\Q5`5HZ/_P`?3?[A_F*VH?Q$9U?@9LT445[)
MYX4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%5K__
M`(\Y/P_F*LU6O_\`CSD_#^8J*OP/T*C\2,>DHHKQCL%HHHH`#24M)0`444"@
M`HH-%`!BC%+24`%%%%`T%%%)0,****0!1110!0HHHJ3H"EI*6@0444N*!"4H
M'%&*6@`Q12T4@+=I([XB2"W;`)+2(.!ZDTZ]#^4I*6VPGAX1W]*;8[5+%S&5
MD!C*L^W'?/TXJS,UM#;[?*C="^<).2<X^E=45>GJ_P"ON,&[2T1F48I3@DD#
M`]*2N8V"BBBD!>:P,D0EMR2IZ+(-I_#L:INC1L5=2K#L16E);">4+++*\@8*
MQ.`HRI/'MQ6<\CR8WL6P,#)[5T58J/2QE"3?4912@48KG-!4(#`L-P!Y&<9K
M23RS`DEO9LV_(8)(W'UK,Q5F"";RC(D@C&"0-V"V.N*VI-IZ(B:3ZC;Q$CN7
M6,;5&.,YP<<_K4.*DEB:*0H^"1Z4W%9R^)Z#6PF*`*6EQ2&)BC%+BB@0F*T-
M'_X^F_W#_,50J_H__'TW^X?YBMJ'\1$5/@9LT445[)P!1110`4444`%%%%`!
M1110`4444`%%%%`!1110`4444`%%%%`!1110`56O_P#CSD_#^8JS5:__`./.
M3\/YBHJ_`_0J/Q(Q\4445XQV!1110`4444`!I*4TE`!1110`4444#"BBDH&+
M244E(!:*2BDP%HI**`*-%+12-Q*6EQ1B@04M%+0(*,44M(!*,4M%`%BR95E9
M6W8D0IE1DC-27*+#:+"N]LON+%"HZ=.:33\B1SED#*5#JI.#[8IUY'(D0+W$
MLHW='1@/UKIBOW=S%_&4J**,5S&H44M&*`-5B8D\@F\=0,94#!^G'2LJM7=^
M^^R>;<>9C'F>8>N/3TK+Q737Z&5,FM4CD=ED95^4[2QP,U+<);"$&$_,K;<[
MN6&.N.U-L_F;!6+:F79G7/'2I+MX6B`C:$G=_!$5/YTDE[/H#?O%/%7[=I%M
ME)@69`"!@\J#U!Q5&M*P`$)<)Y3?\]VY'Y&B@KR"H]"C-(TTK.W4^E,J2<EI
MF)D$AS]X=ZCK*6[*6P444M2,***6F(2K^D?\?3?[A_F*HXJ_I/\`Q]-_N'^8
MK:A_$1%3X6:]%%%>P<(4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%
M`!1110`4444`%5K_`/X\Y/P_F*LU6O\`_CSD_#^8J*OP/T*C\2,BDI:2O&.P
M****`"BBB@`H-%(:`"BBB@8444E`PHHHI`%)11FD`444E`"T4W-%`%7%`%+B
MEI7-1*7%%**07$Q2XHI:`$HI:*!"44N*,4`6;$Y=E:0(-I*EGV@-TS27*2K&
M#)=)*,_=63=^-.L-HE<ED5@AV%S@9XJQ-&9X`);BW:4-PV\#Y:Z8QYJ9DW:1
MGIM#J7&5!&0.XJW);V>%9;O;NR<%2<<_I50C#$9!QZ5?MC+]F3[*4#9/F9QG
MVZ]JFDD[IJ_]?(<W;5,HR*JN0C[U'1L8S3<5/=E#<OY>-N>W3WJ&LI*S:+3N
MC3>>&$&)WD,@&TR*BY(^M9F*U6N5+?N[X(G91$>/TK,K>N[M:_U][,J>A;24
MVUO$PBA;S`W)7G&>_-0RS^:NWR8DYSE%P:F%X\5M"D+X(!W#:#W]ZBFN9IU"
MR/N`.>@%*4E:R?0$G>]B&K:6HE@BQ*V]@Q5",C@G\JJXJ[#(L%JN^2;$A/"8
MX_.E22;?-L.;=M".6U6.`G<WF*H9@1Q@U6JQ<7+2@HK$IZL!N/U-08J:G+?W
M0C>VHE+BC%+4%"8I<4H%+B@0E7M*_P"/EO\`</\`,52J[I0_TEO]P_S%;T/X
MB(J?"S6HHHKUSB"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`***
M*`"BBB@`JO?_`/'G)^'\Q5BJ]_\`\><GX?S%15^!^A4?B1CTE%%>,=@4444`
M!I*#10,***2@8M)1FBD`9HI**`"C-)12`6DI,TF:!BYHI,T9H"P44E%`[$6*
M***DL*,4HI<4"$Q12XHQ0`E%+BE`I@)BBEI:`'00F9R-P4`;F8]A4L]MY2%P
MX=0P'3'49%%D&\TE650%)8L,C'TJ:]E62-0DR,`?NHA7MUYK91C[.[W,FWS6
M*6*D$#L@=5W`G;QZTU2`P++N`/(]:OK/'!$LD<`'F9!`D;BIIP4K\S')M;%*
M6,Q2%"02.N*93Y"K.2B;%/1<YQ3:AVOH-7L6Q8\A?-&_=M*A>AP3U_"JE:[B
M0EHX7W%6"LQ3D`]\]ZH7,,<85HBQ4DCYNN1715I)*\49PG?<CAB,KD9"@#))
M["I9H?+@(!5E#CYMN#RN?RI+02>:3&5&`=V_ICWJ6[9V1<R0%0?NQ'VZU,4O
M9M]1MOFL4\5H6TI"%8S<E`>-B`U24`L`QP,\G'2KS"-8(@+IT'."%///UIT;
MJ[0I]BI<DM<,3OSQ]\8/2H\5+<1E)V4N7(Q\Q[\5'64T^9W*6PF*7%+BC%(8
MF*7%+BEIDW$Q5W3/^/AO]P_S%4ZN:9_Q\-_N'^8K6C_$1$_A9J4445ZYR!11
M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`56O\`_CSD
M_#^8JS5:_P#^/.3\/YBHJ_`_0J/Q(QZ*3-%>,=H9HS110`&BDHS0,*#0:;2`
M6C-)FBBX"YI":2C-(849I*0T`+29HIN:!BYHS32:,TABYHII-%`P`HQ2T4`%
M+2"EH`****!!2T4M`"4M%+0)EVQ9V1U2*$E5/+#EN>AYI+M2MN/,BBC??P$Z
MD8^M001&1F&\(H4EF]J66.)%!CG$ASTVD5T<S]G_`,%&5O>(:T;1F2W0>;(-
MP8JJ`=NW/>L_%7[=9!;1F&%'.227/?VYI4+\SL.IL5[[/VM\Y[=>O05!BI;C
M?Y[>8JJW<+TIF*B>LFQQV1II&NX)YEPY0X(#8'3K]*SI99)B#(V<=*T&@9&P
MMJSC&-QE(R*S:VKW22_S,Z=MRS8J3*^U=YV'"GH?K2W*RK&#);QQC/51_P#7
MIMLKL&V1*^SYN5SGMBGSAS`&>%(_FQ@)M/2A+]V-_$515Z&2=X56&52RCE2!
MG]>M4@*N`3?9(Q"&P<[MJ^_K4TG9O]`F5I=YD)ESO/7--Q4SO+M\N3/'9AR*
MCJ)6N-#<4H%%+2L.X4E+10(*N:;_`,?#?[G]15.KFF_\?#?[G]16M'^(B9_"
MS3HHHKUCD"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB
MB@`JMJ'_`!Y2?A_,59JMJ'_'E)^'\Q6=7X'Z%1^)&-1125XYW"TF:,TF:`%I
M*3-!-*X"DTAI,T9H&)11FDS2&+FD)I,TA-`"YI":3-)FD,=FFYI*,T#`T4F:
M,T#"BBBD`_%+2T8IDB8I:,4N*`$HQ2XI<4P$Q2T8HQ0(**4"C%`BY:-(8V$<
M$;;5.25))]J2=7-N&>!(OGQ@(03Q269(;:BY;O\`/MW#T_K2W3[L*871@>K.
M3_.NF_[O5_U]QE]HK8JPKP-#&DHERF>5QW-08JY!;J\`81EV8-R#]TCI6=--
MMI#DUU*DFS>?+W;>V[K25+<QK'<,J=![]*9BIDK-HI/0OI%;ARHB4[?XF?J,
M=:S\5I.95?"30QJ.B'&1^E9^*VK6T21G"Y)`'R_EOMPI)]Q3&9FQN8M]3FIK
M3<)"ROMVJ22!GBI;HLT62Y*AA@$`=1GM24;PN%_>*8J];9,&V,C)#;LMR#VQ
M5*K<$2O#F5%"#/S+]ZG1OS:!/8AN2#<.5.1ZU%3W4*Y"YP/[PP:;6<M9-C6P
M4444AA24M)0`5;TS_CX;_<_J*J5;TS_CX;_<_J*UH_Q$1/X6:E%%%>J<H444
M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%5M0_X\I/P
M_F*LU5U'_CRD_#^8K.K\$O0J'Q(Q<T9II-&:\:YW"YI":3-&:5QV#-&:3-)F
M@=A<T9II-)FD.PXFFYI":,T`*329I,T9HN,*,TF:*!AFBBFYI`+1FDS13&+F
MBDHH`GQ2XHQ2XID7$%+2XHQ02&*!2XHQ0`E+BEQ10(0"EQ2T8IV`EM%#3`&(
MRC'W0?UJ>^).T>:K`=$`^[4$$9=F`?8`N6/M3I(XU7*3;SGIM(K9-JG8S?Q$
M2J2<`9)Z`5=CC:&)3Y$C,V=V"1C\JJ#(((.#5O*&)#]J96QSU-%*VK_R_44B
MK*/WI^0Q_P"R>U-Q4L[*\S,A)7WJ.HDM64MB<W18Y:&$GU*__7J"M#RHP,E(
MQ&I'/<C!SGWS5"M:D9*W,R8M="2W.)1RX/8J,G-2W:RC;YL@8=NQ_*F6N0['
M+`!23MZFEE"/$)4#+\V""<YIK^&)_$05:AEC\H([LF`P(`R#FJM6$A0Q!F+;
MF#$8Z<5-.]]!RM;4CG<23,P&`>E1U).@CE9`>!ZU'42OS.XUL%%%%(8E%%%`
M!5O3/^/AO]S^HJI5O3/^/AO]S^HK6C_$1$_A9J4445ZIRA1110`4444`%%%%
M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`55U+_`(\9/P_F*M55U/\`
MX\)/P_F*SJ_PY>C*A\2,,FFYI":3->*>@+FDS32:,TACLTA--S1F@8449I":
M`%S29HI*!BYI,TA-)F@8[-%-S1F@+#LTE)10`4444`%%%%`%NE%&*7%48B8I
M<44N*+`)BC%+BEQ0(3%&*7%+BF`F*7%+BEQ0(EM-PD.T(?E.=_0"I;E-L7(A
M!#8_=@^E1VJ[F?YB,(>@SG\*L-"VP"5W,0QMP,'FNF$6X6,I.TBC5B.W#1K(
MS$)@ECZ>U0NNQV7.=I(J598@"#"2,Y`WGBLX))^\4V^@R:/RY60'(%1T^1@[
ME@"`>Q.:;4RM=V&MB^</!D#[2?7H5_K5"I6FEEP@Z=E48%1$$'!&#5U)*5K"
MBK#XMX;='D%1G(I\_GLJO+G!Z46PDR[1J&PO((R#[4Z7S3`6E&,OGD8)XII>
MYU$WJ5ZMQ,1`GES)&<G<">M4ZN0%_(7R"H.3OSC/Z]J*6["6Q6D!$A!8,?4'
M.:;3[C:9VV8V^W2HZSENREL+1245(PHHHH`*MZ9_Q\-_N?U%5*MZ9_Q\-_N?
MU%:T?XB)G\+-2BBBO6.0****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB
MB@`HHHH`****`"JFJ?\`(/E_#^8JW5/5?^0=+^'\Q6=7^'+T94/B1@9I":2D
MS7B'I"TA-%)0,7-(:*3-`Q<T9II-%`6%S1FDHH`6BDHH`****`"BBB@!****
M!A1110%B]BBEI<59SB"E`I<4M`"4N*,4M`A,44M%,04444P)K5<RD@ME02`I
MY/M5B9GB4NI926'!.>P/?WJ"VC+,7*N5521CC/XT^X&^(2%70AMN&)/\ZZ(W
M5,S>LBN#\P+#<,\CUJV%C:-72VWYR"`QXJGFK**&@39*D;<[LM@FHIO<<B*X
M54F94&`,<9SCBHZ=(I1RI()'<4U59CA02?85G+63*6Q<81)@NPBF_P"F?./K
MZ56F4JW+A\C((.:O(`'PL2*%Y#%.2,?SK-K:JK(B!9M0K<+YV_'.P@#%+=1[
M4#$2YSC+L"*AA568[PV`,_+BI9U"6ZA4<*S9R^/2A:PV!_$5JL)&LT,:AE1@
M3G(ZU7JTLOE6T9V_-@A6STYY-13MK?8J7D0W!5IV*C`^F*CJ2>022LX!`/K4
M=1)WDQI:!111FI*"BBDH`7-6],_X^&_W#_,52JYI?_'PW^X?YBM:/\1$3^%F
MK1117K'(%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%
M`!5/5?\`D'2_A_,5<JGJW_(.E_#^8K.K_#EZ,NG\2.<S1245XAZ89HHHH&%)
M2TE`@-%%%`!1110`4444`%%)2T`%%%%`"44M%`"44M%`[FABEQ2T5I8YA*6B
MB@04444P"BBBD`4444`2Q-,0521@%&<!B*=.DX0&5RPST+9P:+5)&9VB;#*O
MMS2S)(D'[UOF+YVY!SQUK9)\EW?]".I7JY%(8H(S@JIR"VW/T-4ZNV6-AV;B
M_P#M9V?I11OS:#GL5KAQ),S*20<<GZ4Q79#E&*GU!Q3I<^:V0H.?X>E(B%]V
M/X1DU#NY,:M8O;SO^T><?*Z[<GKZ5GU?RWF;]X^S8Z9XQCICUJA6E9[$P)K4
ML)"5VXV_-NZ8J2XW^6Q+A@7!)Q@G(R*99@F5MHR=AP.Q^M.NO/V#S8PBY[>M
M"_A@_B*U78"%ME#(K9#%?EST]:I+@L`3@9Y/I5Q-L*`K=LJOR/DI4=&V$R"Z
M`6X<``#C@#':HJ?.NR9E+%NAR>^14>:SG\3+6PN:2BDJ!BT4E)0`5=TO_CY;
M_</\Q5$U=TK_`(^6_P!P_P`Q6M#^(B:GPLUJ***]<XPHHHH`****`"BBB@`H
MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*I:M_P`@V7\/YBKM4]6_Y!LO
MX?S%9U?X<O1ET_C1S=)1FBO$/3#-&:**!AFBC%%`!10:*!!1110`4444`)BE
MHHH`*,T4E`Q<T4E%`"T4E%`&G12TE:G*%%%%`!1110`4444@"BBB@9/:+ND;
M"[B%)`/0TMPL@C&^!(QGJHIELJM(0P!./E!.`34MVBHF2JJY((`],<_K6Z7[
MNYF_B*M7(E+VH7#."&Z'A3VXJEFK2*&@0I*D;<[LM@FII;L<B*X18YF5>@IU
MK((S(3M^X<!NAY%12+M8KN5O=3Q3:CFM*Z':ZL3_`&K_`*80?]\U!FK$5I*Q
M!>-]A],9JM3GS63D"MT'JK/NQ_",GZ4;#Y?F?PYQ4MF[*SX<JH4DX&<TMS.L
MJ@!Y6(/\0&/TI\L>6]PN[V*]6X6$<"F210K$E59-V*IU;AEB$*J[QY&>&BW8
M_&BD]0GL03,&E8A]^?XL8S4>:DNAMN&`V]ONC`Z>E0YK.?Q,I+06BDHS4CL&
M:,TAI,T#L+FKND_\?3?[A_F*H9J]I!_TIO\`</\`,5K0_B(BHO=9L4445[!Q
M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`53U;_D
M&R_A_,5<JGJW_(-E_#^8K.K_``Y>C+I_&CFL44M%>(>H)BBEHH`**2C-`!11
MFB@0444AH`*,T44##-+244`+2444`%%%%`PHHHH`TZ***U.0****`"BBBD,*
M***`"BDHH`GM5#2-E5.%)&[H/K2W.?+&?L_7_EGC-%H&)D/EEQL.0.]$\:B`
M.(&B.['S$\\5NE^[,W\177!8`G`SR<=*L-!"JJQN#ANG[NJV:MPL(X%\R10K
M9*ADW8J*:3NFOZ^]%2N031^5*4#;@,<XQVJ.GSL&E8A]^?XL8S4>:B5KNPUL
M7YXXVE)=)V;C)4<'Z50S6FBC?L\VX=E.#A^.G7Z5EUK75M2:99LB1,2I.0I.
M!U;VJ:^9C""V5&X8!'^S5>VC$A?,@0A<KDXYI;@`1#?,)9-W!#$X%.+:I6!K
MWBN35B&5]FU+='QWV9-5LU<C8FVC"S>3@DG.1NYZCUK.GN5+8K22-)(6?[QZ
MU'FI;QLW3D`CGN,=NM0YK.6DFBUL+FDS29I":FX["YHS3<TF:!V'$U>T8YNV
M_P!P_P`Q6<35_1#_`*6__7,_S%:T/XB(J+W&;E%%%>R<`4444`%%%%`!1110
M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%4M6_Y!LOX?S%7:IZM_P`@
MV7\/YBLZO\.7HRZ?QHYNDI:2O$/4"BBB@`HHHH$%%%%`!2&EI*!H****!A11
M10`4444`%%%+0)B44M%`C2HHHK4YPHHI*0"T4E%`"TAHS29H`6BDS29I`6+5
M69V",5;:<8.,TZX0"(,)6<AMIR>"<=JCM642G<5!P=I;H#4MXR;,;T=RP.5[
M?+@_K71&WLV0[\Q4J];_`/'NN\Q`<D!DW''>J%/$LB!<,1M.5]JSIR47=E2C
M<?=@"X8*`!QT&!TJ&ED9V<F3.X\G-,)J).\FRHK0OSB)I2WV@QDC&WRV&/:J
M3JR'#J5/H1BM)I-Z>=)'*Z$AP-H^7%4KR99`@60R$$DL1CKVK>M%;F<&]@M3
MACNC=E8%?E&3FI+J1F@"M"T8#?+E<`#'3-0VA!9E:79P2I+8&ZI+MXV@&R1F
M*OCYGSNXZX[5,?X;U*:]XJ9JS]M_=HA@B;:,99:IDU>@E06RLL;-+&#_``9`
MS_$3["LZ=[NSL5):;%6:5I9"[8R?2HR:EO65KIRH('IC'..>*KYJ)?$S2*T0
M[=2;J3-%2.PN:3-&:3-`6%S6CHG_`!^/_P!<S_,5FUHZ'_Q^/_US/\Q6M#^(
MB*OP,W:***]H\X****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH
MH`****`"J>K?\@V7\/YBKE4M7_Y!LWX?S%9U?X<O1ET_C1SE)125XAZ@M%%%
M`@I*6B@!****!BTE+10(2BG4E`"44M%`Q,48IV*,4"$Q1BG8HQ0%QN**=BBB
MX7+]%)FC-:&`M)29HS2%86C--S1F@=A:,TW-&:0["YHIN:0F@+%FTSYQPZKQ
MSN&<CTQWIUV(Q@QPNGJQ&`?PJ.SE5)'W2>7E"`V"<&EN&!08NVFY^Z0>/?FM
MDU[,BWO$((+`,<`GDXSBM"W2(*J>9YJL24!B/7\ZRR:OQLPMS$)+<%<KO,F#
M@\G%%%J^J'-:%>ZR+APS%SGDD8_2H":DNWW7+DE#T^ZV1T]:@+5E/XF7%:(U
M798[K[0\H48_U1SNZ=,>E9F:TI$67,CVJF0KDIY_S8^F*R<UK7W_`.')IERQ
M8><_S(K;#M9R,`TZ\>8Q#S)X9!NZ(1G]*BL-IG/"E]IV!NF[M4M[O^SK]I""
M?=QC&=N.^/>G'^$#^,HYK3M"7M54B=5`8?*A96SWX[BLO-7K6-I(05N9UQU5
M(V('Y5%%OFT*J+0@O7WW;L49.G##!Z5!4]\V^[D;:R].'&#TJO6=3XV5%>ZA
M:*2EJ"Q,T9HHH`,UHZ%_Q^/_`-<S_,5G5HZ%_P`?C_\`7,_S%;4/XD3.K\#-
MZBBBO:/-"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB
M@`JEJ_\`R#9?P_F*NU2U?_D&S?A_,5G5_AR]&73^-'-4445XAZ@M%%%`A*6B
MEH&)111B@`H%&*7%`A*7%+2XH`:!2XI<4N*!7&XI<4[%&*`N)BBEQ1B@5Q**
M=BB@+EG-&:2D)JS*PN:3-(329I#L.S29I,TF:!V'9IN:3-(32'8=FDS3<TF:
M!V+4-W<HHBA<X'10H-%S+=M&!<!PF>-R8YI+!L22DLRJ(SDKU[=*;<RQ/&!'
M)<,<])",5M=\FLC.RYM$0$U:4V\MK$DD_ENI.<1YZFJ>:LI';);QR3F4E\X"
M8P,?6HI]2Y(AE"+(1&^]>S8QG\*9FEE*>8?*W;.V[K2PR^4Q;RTDR,8<9%3I
M<KH7/M\'VCS_`+*?,SG/FG_"JDSQ.1Y41C'<;MV:TTB8D>9'8)DX(VDD''3'
MK616M;F2UZ^1G3Y7L3V9C,CK*5&Y"%9AP#ZT^=(X;41^9')*7W90YP,=,TRS
M@2=Y`Y8!4+#:,GJ.U6/[.5"7E:3RCMV%1@G/U]*(1DX:(<I)2U9GYK7@M99+
M5(Q-)$T9(8*/7GU]ZRI8_+E>/.=K$9^E7HXK::WBQ%<%E!#&-`><]S11T;3"
MIJE8JWD;17+HSLY&/F8<GBH:GO&W73GRVCZ?*PP1Q4-93MS.Q<=D)2T45!0E
M1S&8)^X5&;/1V(&/P!J6BFA&=;7L\KP;XX0LN1\CDLN`3R,>V*Z'0O\`C]?_
M`*YG^8KFK$7'VMC)"5<N?,<H`"-HX!QS\V?PKIM#_P"/Q_\`KF?YBNJ"2K1L
M8R;=-W-VBBBO5.`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH
MHH`****`"J6K_P#(-E_#^8J[5/5O^0;+^'\Q6=7^'+T9=/XT<U12XHQ7B'IA
M12@48H"XF*4"EQ1B@5Q,4N*7%&*!7$Q1BG4`4!<0"C%+BEQ0%QN*<!2XI<4Q
M7$Q2XI0*,4!<3%&*=BC%`KC<44[%%`7'9II-)FFDT!8?FD)IF:3-`[#\TA:F
MYI,TAV'$TVDS10%AV:3-)FB@=BWIS%9V8.RX0GY0"3[#-6=2<-9H0S,I<%6;
M;R,'T%5=/C\V9QY8D94)53T)]Z6]2=8@9;2*%=WWD&"?;K75%M4F8M+G*=:E
MH\D=FN)I!N5V15`P,9/)K+K2M-\5KN6:53(KLH7&T$#OGZ5%#XBJNQ6OPPO)
M`S%CQR>O05#&JLX#OL7NV,XJ2\C\J[D7<6YSENO(S4-9S^-W[EQ^%&E%,N[>
M;I!(X!*F$G!QU^M9M:JA6G%ZL<Y<C(C$9QG&.OI656E:]E\R*?4LZ>,SLWSD
MHA8!#@GVJ::[EC7='#+"Q/+.Q8'\"/\`.*@M2JG(,X89W&(X^7'^-273K+;;
MT>Y=0X'[U@1G!_6G&35/1B:O+4IDDDDG)-:%OB:TC19Y8V3.X1QL>I]JSZOP
MMOM(ECN1`4)W9)&[WXZU-%ZLJILBG/CSFQ(91_>88)IE37KK)=R,H.">XQGW
MJ&LI_$RH[(****DH*0C*D`D'U':EHH`Q[!T,ULGGSRJJ_(650`=IX..<X_I7
M4Z'_`,?C_P#7,_S%<OI[3&Y".F"LC,QV`#!4=#W^;/X=:ZC0_P#C\?\`ZYG^
M8KLC_&B<[_ALW:***]0X0HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**
M**`"BBB@`HHHH`*IZM_R#I?P_F*N53U7_D'2_A_,5G5_AR]&7#XD<Z*,4[%&
M*\0]$;BEQ3L4X"@+C`*7%/Q1BF*XW;1MIV*7%`7&8I<4[%&*!7&XI<4[%&*`
MN-Q2XI<4N*!7&XI0*<!1BF%Q,4N**6@5Q,44M%`7*V:3-&:2I-;"TF:3-%`6
M%S2444`!HS0:3%`PS1FEQ1B@"U8Q13&59"0=GRX4G'O2W,,<%L%7>S%\[VC*
MX&.G-%A:SREI(W>)0/OJ#S[<4MW,IMA$+E[AM^[)!&!CWKH22IW:,6_?T93K
M3L`YM_W;RP8R3(<%#^=9E:$$RVMJC2%Y1("1$<;>N.]31:4KL=35613F!$K9
M<2'/+`YS3*DN5*7#@HJ'KM7H*CK*6C9HMC6/^D/O47XW=-H`7\.:R:VD-PSE
MVADV'#*OF`8..G7I6+71B%L_4RI=2W9B'<A4W'G_`/3,#%2ZEM*C"2IM;&T@
M!1QGMWY%0Z?GSV4*2K(0Q!Q@>N:L:CA8=D8)0.N6)'78,?I3CK18G_$1FU;1
MK>6VCCFD:,QD]%R&!.:J5:2*V2WCDG,I+YP$Q@8^M84[W9I*Q%=RB>Y>100#
MC&?IBHJ=+Y?F'RMVSMNZTVIDVVVREH@HHHJ1A1124`8UO)9QW"2M<6";,_ZF
M/:3D8Y.:ZK02&NF93D&/(/XBN9LG1I80'<Q(Q6%2H'\.02<\_*>*Z;0S_IC_
M`/7,_P`Q79'^-$YW_#9O4445ZAPA1110`4444`%%%%`!1110`4444`%%%%`!
M1110`4444`%%%%`!1110`54U/_CPE_#^8JW574O^/&3\/YBLZOP2]&5#XD<_
MBEQ3L45XIZ-QN*<!2XI:!7&TM+B@4Q`!1BEHH$)BEQ2BC%.P"8HQ3L446`3%
M%+BB@0E%+BEQ0%QM+BEQ2XI@)12XHH$4**2BLSH%HHHH`***6@`I*6B@0E%+
M1B@#0MY;?RK4O<&-H225"$YY_P`*KW26^2\,_F%FSMV$8'UIMK;BXD92X0!2
MV3TXJ9[,16[,Z/(2?EDC(*XKH]Z<=M#+2,MRE6M!-*+-,R-DHY3"`CCU)K*K
M0M7%M;J[W$B"4G:J`'&.,G-*@[28ZBNBM?*5O)`S%CD')Z]*CBB:4L%Q\JEB
M2<8%.ND:.X=6;><YW>N><TD$S0.64*<C!##((K-VYWS%*_+H:<L<$DA:1+?>
M>O\`I./Z5D5<DU`22,WV6#G^\N3^=4ZNM*,GH33BTM2Q9E@\A55=0AWJ3C*_
MYQ5G4/,\A/W:1ID;E#;B#C`S^%4H))8I08"0YXX&<TZ5KCR\2API;=\RXR?K
M3C->S:!Q]ZY$C%'#*<,IR#6GY][);1/"[NS$A\`''/%9=:%G/%#"BCRPS[@S
M/G@]L^U*B]6KV05%I>Q7U#_C]D^;=TR?P%5ZGOF5[MV0J1QRO3I4%9U/C?J7
M#X4%%%%04)4-S.857:F]W;:JYQD]>OX&IJCGMXKA`DT:NH.<,.]4K7U$[VT*
M-B@>Y::*V6%0S"0LV26Z$+V`XZ^U='H7_'X__7,_S%<_:IIWG*UO$BN&*JP3
M'.,G'X&N@T,?Z8__`%S/\Q73!WK1,9?PV;U%%%>J<`4444`%%%%`!1110`44
M44`%%%%`!1110`4444`%%%%`!1110`4444`%5=1_X\9/P_F*M56U#_CRD_#^
M8J*OP/T*A\2,/%&*=BC%>,=UQ,48IV*,46`2BEI:!7$Q28IU%,!,44X"B@!*
M,4M+0(2C%+BB@`HHHIB$I<444`%%+BB@#-I:*,5D=`444&@`I124M`!1110`
M4444`6;(,TD@#*J^6V]F&<+5B&V,)5HKT*9/]7@'#_7TJO8KNDDRS!1&2P49
M)'I5C[-"Z0O;N\<C9,:R<@D&NJFO=3M^)C-ZV*.627<P!8-DAAG)]ZM"\FD3
MBUA9$R>(LA:IN69V+_>)R?K5^WFC6T197DB7#KP,A\]_PS44V[M7L5-:7L4[
MB1Y9F>4;7/48QBDAGD@<M$V"1CH#_.I+YB]W(2I7IP>O2J]9R;4W9EI7B;?G
M3&X$PDC^R?>S\O3'3US6+6P(8-H;9#Y"D$/QDKM.<^^<5CUMB+Z7\_Z]#.E;
M6Q9L'5)7W2&/<A4,`20?;%.O`50*UW)*<_<=6&/?FF6+JDS9<(Q0A7/\)]:D
MNW_T98Y)UFE#Y!4[L#'3-2OX7]?Y_H-_&4ZT;4S?94^R,@;)\W.,^W7MBLZM
M&WM5O+.,!F5HR<XCSU/K2H)N3L.I:VI4O#&;J0Q8V9_AZ>^/QJ&GS(L<K(K%
M@.,E<?I3*RE\3N5'9!124M(8444UTWK@DCW!P:`,FQ6);F+R]Q<DF2,GB'Y<
M<?D!S74Z'_Q^/_US/\Q7/VSQ&[\MGG2<`MY3R$C'\JZ#0_\`C\?_`*YG^8KJ
M@[UHF$OX;-VBBBO5.$****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@
M`HHHH`****`"JU__`,><GX?S%6:KW_\`QYR?A_,5%3X'Z%1^)&-BC%.Q1BO(
ML=@W%+BEHH"XF*,4M%%A7"C%+118+B44446"X448I:8"4444@%HHHH`****`
M%HI,T4`9]%%%9'0%%%%`!1110`444E`"T4E%`%BRE2&?S),_*IP`2,FGWEVE
MU@B)E<'[QD)X],4RRB261]ZLX5"P5>K'TI;D((QMLWA.?O,Q.?;D5NG+V=KZ
M&;MS^96K1M8OM%J@D@=EC)VLKA<^W-9U:5O"MS:1AH9VV9`9"H')]Z5%7DT.
MH[(JWI=KMS(H1N/E!S@8X_2HX9I('+1-@D8Z`_SIUW$L-P\:[@!C[QR>E0U$
MFU-OJ4DG%&WYTQN!,)(_LGWL_+TQT]<UBUJN%5L0_P!G[.V\@G\:R16V(;=K
MF=(FMX&G9PO55+8`SGVJ2XL_(B#^8&(;:Z@?=.,X]Z;:,4F+")Y#CHC%2/?B
MI[I5-F&$,D/[S&&<G/'7FHC&+@WU^8W)\Q0K3M[<7=G"%D=#%G.$)YS6;6A$
MB3VD*^;(ACSD+&6YS[44=W<*FR([\0O*\B3$N2`4*$>QYJG5[44B\YW$I,AQ
ME"F.WK5+%*LO?8Z;]U"4N*4"EP:S*&XHQ3@*CFE6$QA@29'"*!Z]?Z&A*XKE
M#3&:/$`CM\9*LZ2Y8D>HQR>F:Z/11B[?_KF?YBN7L(TCO@H>1HM[")BH`+!=
MI&<Y.`#V]:ZG1O\`C[;_`'#_`#%=45^^B8O^&S:HHHKU#B"BBB@`HHHH`***
M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`JO??\>C_`(?SJQ5>]_X]
M'_#^=14^!^A4=T9.**6BO*.H3%%+10`E%+12`2BEHH`2BEHH`*2EHH`2DI31
M0,****`"BBB@`HHHH`SZ*2BL3H%-(***`%HI**`%I***!A111B@">WG6`@[&
M+9Y*N5R,=./?FGW5V+B,($=<'.6E+?H:DL9$;,+0P%MIV%UY9O0FEO5*VH\V
M"*&4OP$'.,?6NA*7L]'IZ&+:YM4447<ZKD#)QDG`%:2(RI&AFM6"9!!E^\#V
MK,K1M/*\E`(HW8[MS.I.T]L^U*CO8=38JWAW73GY.WW#D=/6H<5/>E7NW9"I
M''*].E0XK.?Q,N.R-5"H;,W]G[.^P`G\*R0*V-K^=Y7E+]CV]=HQC'7/K63B
MMJ_0SI]2Q8#,K@,5<H0F&VY/UJ2ZCD2U7[2Q,Q?@,^2%Q_C3+*-7E;<N\JI9
M4_O'TJ2Y0-;K*T(ADW;<`8R,=<4HK]V)_&4:N07ACBCC^<!=P;:V,@]_K5=`
M`P+#<`>1ZUH".%X4DBLM^[((5V^4U-)2U<6.;74HW+B:X:0`@''4Y/2F!:L7
M:(ERZQC:HQQG...:AQ43OS.XXO16$Q1BG8I=M38=QN*9-!'<1[)5RN<]2"/Q
M%38HQ36@C.CN-/\`*BFB.5B`"*JMD!O1?P/ZUNZ,5><NIRK1Y!]1D5REK%%=
M7$92:*)OX`ESND0`'`VXQQS],FNKT6-89!&@PJ1[0/88KKC%*I$QE)N#-FBB
MBO2.0****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"J
M][_QZ/\`A_.K%07O_'J_X?SJ*GP/T''=&31117E'6%%%%`!110:`"BDHS0`M
M%)2&@!:*2BD`M%)10,6BDI*0#J*;2T`+13<T4`4****R.D***!0`44M%`A*6
ME%%`"44M+BF%R:Q1'F(=0QVDHK'`9O2K&H0I'$"8T21F!"KZ;1G]:2RD1LPM
M#"6VG86');T)IUVI6V'FPQ12E^`@YQBNE)>R,&WSE!5W.%R!DXR>@K2"M';Q
M1PWD*%22V'QDYX[5G8JW#9J\0=Y@F02!M)X'6LZ3>J2*G;J17I1KN1D((..1
MT)QS^M08JQ<1+%,R*20,8)^E)##YK;=Z)QG+G`J9)N;[C322+<Z0RY<712(X
M&T1MM!Q6>!5X6[>1Y/GV^W=NSYG.<8JKBKJW;NT3!VT+%O);"("5&#J#M9.I
MY_G3+AX9`"C3,^>LA!XHMH5D=@Y;"J3A>I^E3W-O#';AX@QW,,,S#D8JK2E#
MI85TI%+%:%FO^CXBV;F5@Y)Y!QQ5'%6D2.6"-?,2-DSNW=Z5+1A/5$5T$^T/
MY>-N>W3WJ("I[AD>=F0?+VJ/%1/XF-;#<4M+BEQ2"XT"H;N3R8MW[WD@?NXR
MY_("K&*7%-"N9%G<1R7416:<K(3L#VVQ6X)^]CT'Z5T6EC_2&_W#_,5SNF0O
M')$L\%WE,[2Y3RT//0`YZ<=ZZ33?^/AO]S^HKIBE[56,F_<9IT445Z)S!111
M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`5!>_\`'J_X
M?SJ>J][_`,>C_A_.HJ?`_0<=T95%%%>4=844E%`[!03124A!1110,***2@!:
M*3-%(+"TE)FC-`Q<T4F:,T@%HIN:,T`!HI,T47&5**6BH-KB4H%%+B@+B48I
MP%+B@5QE+BG8I<4"&XI0*=BEVT6"Y/8Q"25OW8D8(2JGIFGW22K$/,MHXAGJ
MHY_G4=JKF4B.))3CHPR*L72%;<>9#'$^_@*.2,5T15Z?]?Y&+?O%#%3!IHDC
M8$@<E#_.F8K1A>4P)F=4`!(&S<<"II1NV.<K%&=9/.;S3E^YHBD>%MT9P2,=
M`:DN@1<-EBW0Y/?BHL5,KJ3L-:HT1]HR%^T+OSM($8X.">OX5FXK49G,!8$0
MG_IH!D_0_P#UJS<5M6Z&=-[CX8O-8@L%`&23V%+)%$JYCF#G/3:15BU9RC!(
M8VVJ<DJ23[4DRL8`S0I'\V.%(/2ER+DN/F=RH%J["S"W013QQGG<">3S595+
M,%`R2<"K\,<T<:*$*]=QP#]#3HQ=V*;*4X?SF\Q@[=R.]1XJ>[S]I?.<\=?I
M46*SFO>92>@W%+BEQ12L%Q,4N**6@1B:=;A[N*5;@2.@)E#N^_."/NGIG(/3
MCI72Z;_Q\-_N_P!17.Z7!))=F[V>9"XRDTY!E_#'`7\JZ/3A^_;_`'?ZBNF/
M\5&;^%FE1117H'.%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44
M44`%%%%`!5>]_P"/1_P_G5BJ]]_QZ/\`A_.HJ?`_0J.Z,G-&:2BO).H6DHHH
MN,**0FDS2N`ZD-)FDS0,6BFYHI#L+FC--HH&.S29I,TF:06'9HS3<T9H`4FD
MS29I,TKC'9HIA-%.X6&8HQ3\4N*DH9BEQ3L4N*=A7&XHQ3P*7%%A7&8I0*=B
MEQ3L%QH%+BG8I<4["N/M(U>1MR[R%)"_WC4DZ`P+(T0B?=C`&,CZ5-;6^X6\
M@7CG><X[U#/#.H#S9/;);-='*XPV,N:\MR#%68UVQQL\YCY)4!<XJ!3M8'`.
M#G!%7\[H8R/LPR"2&`'Y5-*-[L)LI3?-*QWE\_Q$8S3,5-<;3.VS&W_9''2H
MZB2]YE)Z%EYXQ'LP9C_>?M].]5<5>2VAW[<2.P.#TQTZ_2J>*TJ*6G,1%KH3
M6I.["KEN_P`^W(]*+A\_*8F1@?XF)_G26R@R@&,R>P-27A/`\T$#^`#[M4K^
MS%]HJU:A2'RUW+N9L_Q8P?2JZJ68`=2<"KBQ311((T7<<[LX-*E'6]AR96N%
M43,%``XX'TJ.IKA0L[!0`/05%43^)C6PE&*6BD`F*,4M5;^Z:T$#@$HTNV0A
M"Q"[2<X'N!0E?0+E#3U"7$$@6989\^3FX=NQ/S*>!QDUT>G?Z]O]W^HKGM*F
MM'E#>4Z7+L^!Y3A0,DC&1@9`!KHM/_U[?[O]16\?XJ(?PLT:***]`YPHHHH`
M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*KWW_'H_X?S%
M6*K7_P#QYR?A_,5%3X'Z%1^)&3FDS3=U&:\BYV6'$TF:0FDS0.PI-)FD-&:0
M["YI,TF:3-*X6%HS2$TF:!V'9I,TW-&:5QV'9I,TF:0F@+#LTF:;FDS0.P_-
M)FF9H)I!8=FBF9HH"Q/CVI=M/VTH%78BXS%*!3\48IV%<;BEQ2XI<46%<;BE
MQ2XI<4[!<;BEQ2XI<46%<;2XI<44["$Q2T44`%+0**`%W-_>/3'6DI:*8@!(
MS@D9I*6B@!*,4M%(!*6BB@`HHI*`%HI**`"E5V0Y5BI]CBDI,TP)//E_YZ/_
M`-]&CSY?^>C_`/?1J/-%/F?<+(D\^7_GH_\`WT:7SY?^>K_]]&HJ,T<S[A9$
MGGR_\]7_`.^C1Y\O_/1_^^C46:,T<S[A9$GGR_\`/5_^^C1Y\O\`SU?_`+Z-
M1TE+F?<?*B7SY?\`GJ__`'T://E_YZO_`-]&HJ*.=]PY42^?+_SU?_OHTGVB
M7_GJ_P#WT:CS29HYWW#E1+]HE_YZO_WT:/M$W_/5_P#OHU%FC-+G?<?*B7[1
M+_SU?_OHTAN)?^>K_P#?1J+-)1SON'*B7[1-_P`]I/\`OHT?:)O^>TG_`'T:
MBS2$TN=]Q\J)OM$W_/63_OHTGVB;_GM)_P!]&HLTA-'.^X^5$WVB;_GM)_WT
M:3[3-_SVD_[Z-19I,BCF?<.5$WVF;_GM)_WT::T\K`JTCL#V+&HLT9I<[[AR
MH=FDS29I,U-RK#LT9IF:3-%QV'YI,TW-)FD%AVZC-,S29H'8?FD+4W-)FD.P
M[-)FFYHS0%AV:":;FD)H'8=FDS24E`6'9I,TVC-`[#LT4VB@+&EBC%.`HQ6U
MCEN)BC%+BC%%@N)BBG8HQ3L(2EHHH`****`"BEHI@)12T4`%%%)2`6BDHI`%
M%%%`"TE%%`!1244QBTE%%(`S1FBDH`*,T9I*+CL+FC-)0:5PL+FDS29HHN%A
M<T4E)F@=A:3-&:3-*X["YHS32:,T@L+FC--S29H"P[-&::329HN.PXFC--S2
M9I7"P[-)FDS29HN.P[-!-,)HS0.PXFDS3=U)FD.P[-&:;FDS0%AV:"U-S29H
M'8<329II-(32"PXFDS3<T4#L.S29IN:,T#L+FC-)10`M)1FB@`S1FBDH`6BB
MDS188N32449HL`449HHL!K8HI:*Z#C"B@T4``HHHH`#1110`444E)@+129HS
M0`M%-S1F@!:*3-%`Q<TAI":,TKA86BDS1FBX["YI,TF:,T7"PN:,TF:3-*X6
M'9I,TW-&:+A8=FC--S2$TKCL.S29I,T9HN%A<TF::31FE<=AV:,TW-)FBX6'
M$TF:3-)FBX[#LTF:;FC-*X[#LTF:;FDS1<=AQ-)FDS29H'8<332:3--)H"P_
M-&:9NHS2'8?FDW4W-)NH"P_-(33=U&:`L+FDS29HI#L+FC--S10%A<T9I*3-
M`[#J0TF:*0!1124P%I**,T[#"BC-)FBP"T4F:,T6`7-&:2DIV`6BBDHL`N:*
M2BG8!:*2BBP&S1245J<8IHI,T9H`6DHS2$T@%S1FDS29HN.PN:*3-&:5PL+1
M3<T9HN.PM&:;FC-*X6%S1FDS29HN%AV:,TW-)FBX[#LT9IN:3-*X6'$TF:;F
MC-%QV'9HIF:,TKCL.S1FF;J-U%PL/S29INZDW47'8?FDIN:3=2N%AY--)I-U
M)FBX[#LTF:;G%)NI7'8?FD)IA-)F@+#\TA--S1F@=A<T9IN:,T!8=FDS3<T9
MH'8=FFD\4F:0FD%A0:7-,4TN:&%A6/%1%^:5S5=FYJHH"PK\T\561JL+THDA
MH=249HJ0"BDHI@+244F:+`+129HIV&&:,T4AHL`M%)13L`&BBBBP!11118`H
MHS1FG8`HI,TM%@"C-%)3L`N:*2BE89L9HS3<T9JKG'8=24F:0FBX[#J0FDS1
MFE<+"YI,TF:3-%QV'9HS3<TF:5QV'YI,TW-(31<+#LT9IF:,TKA8?FDS3":,
MT7'8=FDS29I,TKCL.S033":,T7"P[-)FFYI,T7'8?FD)IF:3)I!8?FDS3<T9
MH'8=FDS3<TF:!V'YHS3,T9H"P[-)FDS29H"P[-)FF\T4AV'9I,TE%`[!1FDS
M10%A<T9IM+0`N:*3-&:`%I#THS24T`S.#3ZC<X-.5LBG88V3I55CS5J7I51N
MM7%"9)&:M*>*J1FK*GBE)`A^:,TF:3-388N:,T4E.P"YHHI*+`+244M%@$HH
MHI@%%%%`!FDI:2F`4444`%%%%`"TE+24#"BBB@04444`<#_:VI?]!"[_`._S
M?XT?VMJ7_00N_P#O\W^-4Z*]?E78\B[+G]K:E_T$+O\`[_-_C1_:VI?]!"Z_
M[_-_C5.BCE78+LN?VMJ7_00NO^_S?XT?VMJ/_00NO^_S?XU3HHY5V"[+G]JZ
MC_T$+K_O\W^-)_:NH_\`/_=?]_F_QJI11RQ[#NS?\-:A>S:[;1S7EQ(AW95Y
M&(/RGMFN[S7G?A;_`)&"U_X'_P"@&O0<UY^*LIJW8ZJ&L1^:3-,S1S7+<WL)
M-,L,3RR'"("Q/M5:+4HWG,,D4L+\8\P#!STY!/H:DNWC2TF:9=T80EE]1CI5
M.R3RY&@G@4-(/,!,ADR`1P2?3(JXI.+;)=[FF329IN:,UF78=FD)II-)F@=A
MV:,TW-(30%AQ-)FDS29H'8=FDS29HS0%@S1FDI*0[#LT9IM%`6%S129HH'84
MFDS124"%S1249IV&+S1S29HS18`HI**+`+1244[`%%&:2BP"T4AX&333(@ZN
M*=A"24D9YQ5:\N64HL2@YSG([4^(N"/,7:_?'0UIRNQ/,KV)I#Q55NM6I.E5
M6ZT10V/CZU:7I56/K5I>E*0T+1114V&%%%%`!1129IC%HI*6@044E&:!BTE%
M!H`****8!1112$%%%%`!1113&%%%%(04444`>:T44Z(!I4!Z%@#7LGD#:*ZQ
M_"D$CEDG9%/.W;TJ.?PU!:6MQ.9FDV1,0I&.<<5BJ\&[7+]FSEZ*TM/@5[25
MQ:-=2A@`JYRH]<"KDEJFG01QFT6>_F^9HB"WE#L,#O6CDD38P:*NZM!]GN45
MH?(D,89X_P"Z3G^F*I4T[B-7PQQK]K_P/_T`UW^:\_\`#/\`R'K7_@?_`*":
M[W=7G8SXUZ';A_A'9HS3,T9KD.BPRZ)^RS8"D[#@/]T\=_:L_2P$FSY\4N]#
MC:68@`CC))XYZ5<O!&UG,LK%8RAW$=ABJ]ML>]\UX7AF\K&&Q\ZY'/![8_6M
M8OW&1)>\C0S1FFYHK$NPN:,TVB@8N:,TF:*`%S1FFT4#%I<TE%`@S1129HL`
M449I*=ABT4E)FG8!:*2BBP"YHS1C\?I3"ZCJPZXXYIV"X_-!IGF<95&/X8H.
M\]`%Y/4T<HKH=2TS:Y/+]^PHV+C!Y^M.P7%+`#)(%(9`!D!B,X.!TIPXZ44:
M!J,W.<[4Q@XY/:D*RG_EH%P>R]:DHIA89Y2G.2Q_&G*BJ00H!'?'-+10%C.O
ML-(3Z#%3+,9(8B>H4#-7;_3"@3:<ENN:H21&W;RR0<<UMY,YE*[T+!Y05`PY
MJ>/E,4UEYK-,Z1L8YJP.E,48I])Z@@HS112*"EI*,T`+249HH`****`"BBB@
M`Z44&B@`HHHI@%%%%(`HHHH`****`"BBB@`HHHH`\UI5)#`KU!XI*?#_`*^/
M_>'\Z]D\<['3GU*]B"WD30ICY95;:WY5#J-EJ%K;3RK>&>`Q,&24\@8JY=ZU
M:)F*.[6.1<`L4W8^E8\PMKU9WFU1[IEB=DC8%0"!QWKC@FY7M;Y&KM8R["SF
MFBDGCG6%8R`3G!ICI=PSNT;2LQZR+GFK>DZHMA;3(7GC=V!#Q$?KD&B7Q#J0
MD/E7TNSMN`S_`"KI?-?8ST,ZX$P=3<%BS+D;CSBHJL7M[-?3++<-ND"[2WKR
M?\:KU2$:GAK_`)#MM_P+_P!!-=W7!^&_^0[;?\#_`/037=UYN,_B+T.[#?`,
MG<QP2.N-RJ2,G`SBJ>G7$]P07W%`K99DVY.[Y<?\!JW<;!;R&0X38=Q]!CFJ
M5A(?/\O==$!#@3%,<$>G/>L8J\&:R^)%Z5%DB=)/N,I#?2H+>%4E):Y::0+@
M;B,JOX>OK3[PXLYLH7^0_*O4\54L53[2&1)<^6=SR+M))(]N>GZ413Y6-_$:
M-%)2UF6%%)FBBP"YHS244["%I***!BYI,TE%%@%S29I:,4P$HHHH`4]*FCLY
MY8_,5/E/3)QGZ56E+;&"E5/3+=!4RV\DC!UN6N&(`RV$VX]!Z5<8IZLSE)IV
M0Q@5SD$8.#D4`<\<TZ0M+N8R["X`;N>F*:Y^?,9D``&,$!L_6CE0<[[$T%M)
M(_*E4'WF;@8IMTT)N"8%54'`P,5#+<S,%6X9P<=SE?T-,`DY)D&#TPM/96!:
MN[)/YT4S#Y^^O/\`L]*,/CAE_(U-B[CJ*:/,_P!FDS*!T0GZFBP7)*2F9ES]
MU#]&I29,?<!P>F:+!<?140>7O$/^^J7>^?\`5,1[4[!=#Z,XYJ/S7SS"^,=J
M;)*VQU\MMV#Q18&T6+S4O,C3!Z50+-+ESUJKO8HH/7'(JY`N;=C6K.2*L20G
MG%3X%50=LE6ATK.2L=:V"BBBI&&*,4M%`Q*,4M%`"8I:**`"DHHH`*,T8HQ0
M`448HQ0`448HQ0`4448H`**,44A!1BC%+0`E%+10`E%+10!YI112H`SJ"<`G
M!/I7M'D"5HVFD7-Q!-<,K10QQL^YAUP.E=AIGA_2;.U%V)4N0%R96(*K^`JO
MK6M62VCP(2R7$#['4<9Q@#%8.JW*T47R65V8.A6\UW;R10VL$H#@L\V=JC'M
MS6A(EA:#$NG"[E]((75!^)/]*Q+%-1EMI%LDD,88%V3C!]S387U">8PQS/O'
M8R!?YFK<;O<2>@FJ'=<JPM$M%*9$:YZ9/)SWJE5O4H[N*=8[Y2LJH,9.<CG'
M-5*M;$LT_#?_`"'+;_@7_H)KN<UPWAS_`)#EM_P+_P!!-=S7GXOXUZ'=AO@&
M3<POR?NGH,G\N]4;%&^U,_[UEV8+20A#VP.@)J[<*7A>-'V.ZD*<XP<5GVL7
MG3GY[A!&,.IN"3N_`].OYUC!>ZS67Q(O7:H]K*LC%$*'<P[#'-5K(QF56\R9
MY"C`>;C@!L'I[@5;G)$$A";SM.%_O<=*HZ<FR8[82J,I*LQ8D<^_3))/X41^
M%A+XD:.:**AGG,3(J1/*[9("D#@>Y^M0E<MNQ/1BF1NSQAG0QL>JD@D?E3J+
M#N+129HS0`&BBB@`HHHH`,T9HHH`***2G8!LB!QSVYYK0LDBGX-NBXX!#GT]
M*HU:C4P637.X@YP!ZU<;W,:J2C<@D0QR,A/*G%,H+ESO/5N:*AFJV$==RD<<
M^M1QB2-`K`-CT-2T4[A8:'Y.Y67'J/\`"E#J>`PSC./04M!`8?,`?J*6@:AU
MY]?2BFB-5.0"/H:0JX'R-T'0B@-1]%,)D']P^N#C-+O`'S`C'7BBP7'8HI`Z
MD\&EHL.X8ILPS"X']TT^D(R"/44(&KF)""$%;MM:M_9GF]F_QK.,&U,XX%;`
MN572((%^\1S^M;2=T<?5&9,-KU/&XV#FH[@<9%5]Y'>HM='47QS2U'"VY:DJ
M"@HHHH`****`"BBBD`E%+10`4444`%%%%`!1110`4444`%%%%`!1112`***,
M4`%%&**`/-***?"%,R!ONEAGZ9KVSR">RU"ZL'WVTS1D]<'@UL)J]KJ%M,M]
M;1)<)`XBE7@9QTQZU*=(T6[U!H;:[N"Y/W(X\A?QJWJ7@F&RTZ>Z%V[&*,N`
M0.?:LW*-]2K,Q-,FLDTV6.]DE"M("%B/)XJ[/J6DW%LD$DMV40>@R?K5#2-+
MAU*"0-=1P2JPQO/48JW+X96'[^HQ#WVG%#Y;ZL%>QFZK)!)-%]F=VB6(`;SR
M.35&K>I6L5I.D<4HE&P$NO0G)JI5K8EFEX<_Y#EM_P`"_P#037<UPWAS_D.6
MW_`O_037<UP8KXUZ'=AO@*]S!)*R/%((W0$9*YX/]>*2"T6"563`58]@'<\Y
MR?\`/K4EP<6TI+E,(?F'\/'6J6GQR13*LNU3L8JJDG(+9R?IG%9*[CN:NW,7
MY1NB==JME2,-T/UJAIZ1"Y9H_LJML(*0/N)Y')_SWJQ?K(UM)MD"H$;>"FXD
M8[<BH[4R).L;R1N&BW#9'MQR.^:(Z18/XD7JH:FH/E,ZQ.H)&R0GD^H`!]ZO
M55N=QN8/+8++AMI897'&>_TI0TD.>Q)9A1:IM6-5QD",Y7\*GJO8[?LJ[23R
MV2>YW')_.K%3+=CCLA#10:*104444`%+24M`"4444#"BBB@!T:&214'\1Q4^
MK.&DCM8^(XQD_6H%8JP(ZBK%K):2I)%<MY4I/#'H:TAKHCGJ[IO8J@45/<PI
M"P5'W^IJ&LWH[&T6FKH2BB@4#"BEHI`)12T4`%%%%`"$`G)`)]2*0*!T'Y4Z
MBBXK(:4X^5B/UI")!G!5O8\4^BBX6&7=\#;"/[+L*]2,<^]013!RI!^51@4^
MX0/@DD>WK5<$*,*.!T%:W31E&%G<MR89,U2F0HY`/&,BK4K>7:>:Y`08);VJ
M,[9H%E1@P/<=QVIQTU)J2UT"T?<HJW5"+]W/MZ!N15X=!43T9M%W0M%%%9E!
M11BC%`!12XHI`)12XHH`2BEQ10`E%+10`E%+10`E%+10`E+110`A('4@=J6J
MU\%,*AU5QO'RO]T_6F6VZ.X\LD;2I(57W`<^XR.OTJN6ZN3S:V+E%%%04%%%
M%`'F=.B4/*B'@,P%-IT;[)%<#.T@U[IY!ZE!#IWAC35>.!V9QR57<[G'Z"N/
MUK4]6UUY`89(+:-2_EX(&!U)/<U2F\3:I)*SK=,BD\*,$+2?\)%J+1RQSS&5
M)8V0JP'<=:QC3:=WJRW)!H[Z3#$\NJ123,&`1$;''J:TV\16L2F/3Q]DC/80
M[C^K&J&BZ;!>VD\DB!G1@%#3B(?F:?-X;N&D+12V2)V4W2G]:I\M]1)LSM4F
M6XN5E64REDRS%`O.3V'%4ZM:A9-83K"[H[%0Q*-N'?O56K5K:$FEX<_Y#EM_
MP+_T$UW-<-X=_P"0W;?\"_\`037<5PXKXUZ'=AO@*U]="V3YU!1E;)8\<#@?
MC5?37C,S!6A8[?X9F<@>G(X%2ZD7$:^2["5@55`,ALCN/PZT64L[2,EPP#*O
MW#'M/UR"0:S5N0T=^<M2L5B=E7<P4D+Z^U4;%7CN74Q1(I7<?+B*@],<G\>*
MMW1_T2;[P^1ON]>G:J&GDM>%LEMR'YQT;!`X'8#H/QI17NL<OB1J57O&M]JI
M<1^;NY"!"QX[X%6*J7T<CO$421U&<^6X0]L<Y%1'<J6Q-;'-NF`0.P*;,#Z=
MJ=+(L,9=^@]*;:_\>Z\..O#ON/7UR:?)&LL91QE3UH=KZC6QG1M$;C+/=Y\S
MG<Q"J2<A2,_2M.LB*$M<>7$'259&)9PY7`/RDY."?>M2"0R0([#:Q'(]#WJZ
MB(@/%!HI:R-!*6DQ1BBX"TF*6BD`445'.7&W:5`!R=Q./TIK703=B2HY[B&V
M0-/,L8)P-Y`S397EVY4P]N`&R?S%-DT^2_N`!Y091A=W7GK51BKZF<IWB[(=
M<ZI8)%&SW<>6P.#4JD,`RD,IY!!SFJTOAVX2.03B(ICNPI-/1H+58T"%$.%.
M3T_*KG%="*<FM"T"#T.>:6HX%G:3$LMM\Q4X+9;%7GL'+DB2+_OJH<&BO:HJ
MT5:&GR?WHC_P*G#39?2,_C2Y!.LBG^-)D>HJ]_9LWI'^=']FS'^&/\Z?(Q>W
M11R/449'J/SJZ=,G_P"F?YTPZ9/W,?YT<C#VY5R/4?G1D#N*L-ILO]^+\ZBD
ML9HTR)8NH'WJ7('MR)I,$;02.<MVX_R*/,QC<,9Z<@U`UA>2!93+'(J-_"X.
M!FGPZ;.&0N`%<97GZU;IJPO:L63YAP<57,1&<$&M/^SV&/F%$FF2&-L8Z'O2
M6@.I<2SBAEADMBXD7&#Z8-8.AR-'Y]C-D/"[*0:U(8)].F)D`^9.!GKT-9JR
M0W.NSO$C+("`Y[$\5JMFC*Y=EC)3<O5>15F)MR`]C4I@CR<L^![BH8$VQ@=L
MDC/I6$]C>D^A)12XHQ65S<2BEI:`&T8IU%`#:,4ZB@!N*6EHH`3%)3J*`&T4
MII*`%HI**8"TE%%`$5UCR&RDC@=HS@_Y]JK:<S$ML3;#S@X7D_53_3\:NL0H
M)8@`=2:8CQ%F6-D+#E@I&1GUJD_=M8EK6Y+2445)044E%`'FE/@`:>,'H6`/
MYTRI+?\`X^(_]\?SKW&>0=;J]I>2,T&G:&BP[<>9Y>2WN*Q!X<U)(Y9;BVD@
MCBC9RSKQP.E=/J'B*ZTJ;8]ANCQ\KY.#5&?QD+ZQN;6:W$0DB8!@<G..*YX2
MG966AHTC#TN34#!-%9VOVB,D%QY>[%1Q6%[J$DKP6V`AP^WY54^E%C<PK;26
MT\DD*2,"73G/L15N[OK.Y2"QA=[>RA&=VW+2-W)%;:W(,NZBG@F\FY5DD08V
MMV'6H:N:G);O.BVKL\,<856<8)ZD_J:ITT)FEX=_Y#=M_P`"_P#037<5P_AS
M_D.6W_`O_037<UP8KXUZ'=AO@*US')YD<T2AFCR-I.,@]?QX%)"DLEP9Y4$>
M%V*F<GKDD]NPJ6X9TMY'B4,X4E0?6HK>>6:;#1B-0F2"RDY/3H>G6L5?E-G:
MY-.Y2)MI7?M.T,<`FJEGYWVH^9*TB!.,[0.W8<^M)K#6RPH)PID)_=9QP?QX
MQZT^Q:S)`@^SF;;\QB4#Z_A5)6A<3=Y6+M4=2C21HU9'D)#815!].>2.G]:O
M52OC$9HDEAF<88AH]W!X_NU$/B'/8EL8S':(I381GY<`8Y/8$U8J&T&+9?D9
M.N%8DG&??FIJF3U94=D41"$O!NEG(.Z3=YI"CYAA<=._Z5>K)40&Y,<TT<L8
ME;$>P_>9OR.,XK2@C,4"1L<E1C/M5S)@Q^*6BBLKEA12T4K@)12T47`3%&,X
MR,TZDH`*:R!AAL_@>13\4UY6@7S4`)7G!IK<3V9`+=G+"6XE8*<;34X4*H4`
M`=A1)/+?!97"(P&,JO)^O-*!@5=22ON94D[$<4*1H`%&>I..IJ3'M2XHK-NY
MK:P9/J:7<XZ,WYT4E*X60[S9!_RT;\Z7S9?^>C?F:911<++L.\V0_P`;?G2%
MF_O'\Z2BBX678,GKDTUU61<.,C-.H)`ZD#\:+L+(K26H#J\1*D$94=#4D,)A
M=F\UF)Z9[42S;$^7)/KBF6]PTC;77&>A'?\`"M+S:N9M0O8L27$BC@U5DO)V
M1EWXR,<5-*,BJ;#FG%C<(]A!/,T0,[?<R,GL!5;P_#F628G<7<N2/:K@B#PM
M["I[%%2%BJA1T``Q]:UY]&CGE'E+$I/ED#J3BDZ<#I2$Y<#T&32USR>IO25E
M<*6DI:DU"BBDH`****06%HI,T9I@%%%)0`M%)FC-%@%-)113L`44E%%@%S12
M49IV`@O.8@/XMPV].OO5?3U`8;MRE=X4$#GYN3D=>15B\P8/FQC(R"I;=[8'
M6H+78DD2QO\`P-O'(Y&.QZ=:U7P$/XB]1249K.Q8M%)FBBP'FM*FXNH7[V>/
MK24Z(D2H5&2&&!ZU[1Y!I7$^LC?!-)=,O1E.2*SGBDC_`-8C)]1BM2YUS5%N
M'!E:+!_U>!\M6M/NKG5K:\@O<2HL+.KE0"K#I6=W%7:15DV5-*M$GLII/L+7
M<H<*H#D!>/8U;.AR0(D\=G)<,^28'0@+STR&S6;9+>M:O]EFV+OY`?:2:))=
M4B^_+=*/7<V*;O<6@NM1)%>($M?LN8P6BR3@\^M9]23SRW#AIG+L!C+')Q4=
M4A,TO#G_`"'+;_@7_H)KN:X;PY_R'+;_`(%_Z":[G%>?B_C7H=V&^`BN=GV:
M7S<A-AW8],<U4L8_+N!YB,LK(6!+`[@2,DX[]*?J,_EO%$TRPK(&)=@#TQQS
M]:;I4MM)&IC<&<H"RERQ4>@ST%9)-0N:MISL7F8*I9B`H&23VJO'=>?.%A.4
M`RVY&!_`D8J:YV"VE\S(38=Q'ICFJMEYB3;)GFR4W*KLK#''H!ST_.HBE9LI
MO6Q=JEJ2Q[$:1+9E!(S.V,?3@U>JK=1EKB$I<)%(`P577=NSCH,C_)H@_>"2
MT'V40BM8T!4CDC9TY.>*FQ5:PAEBCP\@9,G"^7M(Y^IJWBE-^\QQV,AG3;&O
MV=C']I_=N2.&W\_3G-:U5/-B^W"%739@[EV]7R".<=>M7*<WL3$2EQ2T5F6)
M1112`****`"BBBBX!FC@\'I111<"))1!F!P-O5#[>E2]0"*>]M!);9GD*,QP
MF!G!JO:*Z0!)`0P)ZUI)>[=F4&E)I$M%+3)R4C)!VM_#D=3]*A(T;'T4Q5;`
MW.Q/MQ3BH[Y/XT:!J&0.I`IIE7MD_P"Z,TNU0<X&:7M1H&H@8DX$9^IHP_JH
M^@IWY_E11<+#=N>K,>?6@*HZ`9IU%%V%D5[Q&>,;1\JG)JK`S!DW9&&[UIFY
M2&VF1L'>.*SGF,Q4]-OI71%>Z<[?OEUAFJSI@U:'04A0'M6"=CH&0KA:>B[(
ME0'.*4``4M',Q2@I;C5!RQ/4FG44E+?4:5A:*3-&:+#%I*2C-.P"TE%%%@#-
M&:**=@"BDS1FG8!:*3-&:+`+129I*+`+1244[`+FDHHHL,CN$:2+$94."&7=
MG&1]*@M4E:4RS[=XRH&S!QD>_2IYXQ,@4XQD$@C((]*8ELD<RNA*J%("=AG'
M3TZ5:>EB&M;D]&:**DL****8'FU/A_U\?^\/YTR@<GBO7/'.ZEU32HY"DLL8
M<?>RA//Y51U/7;%+&6*R(:252ORK@#-0V_A;S;%9))F6=UW`#H/:N;D0QR,C
M=5.#7+"E3D]'L:N31=L9[.&V?[3$9GW@JH;':K@\1R01F.SMHHE]6^8U7TR!
M[J%XH[83'<"68X"CZU<:+2[12+E%GEQ]R$G`^IK65KZZDJ]C&NKF2[F,LN-Q
M]!BH:L7I1I@T<'D(RY5<YX]:KUHMB#3\-_\`(<MO^!?^@FNZQ7"^&_\`D.VW
M_`O_`$$UW=>=B_C7H=V&^#YC)7$43R-G"@L<>U5[6\%PX0IM)5C][.,-MJ><
MLL$A09<*2HQG)Q5+3(UCD8)YR[ER5:W$8S]<"N=).+9LV^9(N7+^7;2OY9DV
MJ3L'\7M56R"><?*AF5=G+2[N/0#/;Z5<N`#;RAGV`H<M_=XZU1T]?])+LT@D
M9"2&7;N&1@@9Z#I^-./P,3^)&A5#5@7B2-?F+$_NPF2_X\[?K6ABJ6J-)%$L
MD>\%<Y<-P@]2._Y5-/XD.?PLL6ZE;=%*,F!]UFW$?C4E,MG\RW1_,63(SN48
M!_"G32+#&9'/RCT%2[ME)Z&<H3[4+?[2GEB7>$V'=NSNQNZ=?QK3K)1\SB(E
MQ`)MQW1X*N3D*3GU/IW%:U74Z$0"BC%+698F**6B@8F**6C%(!****`"BBB@
M!MRHN+-H'`Z[D;^ZWK4P4;%+-#\H^Z@/)J.CFKYW:Q')K<;M;D%P02>,'`%2
M)9HP)CE#2<D#;S]!G--_"E1F1@R$!AR#Z&FI@XD85L`&0D^N!2[3_?/Y"C+Y
M.2K=_2D+D'YD;Z]:3OT&A=IQ]]J3R_\`;?\`.CS%[G'UIV<C(HNQV0T1CGYG
M.?5J3RUSG+G_`(%3Z,XI7860SREXSDX_VC1Y*>A_.GYHS1=A9&??*J21@<`J
M:9;IN1R.W-3:@A8Q,.Q(J?2XU:WNW?C:@Q]>:Z8_"<\]&2H?D7Z4N:8.%`]A
M2USV.E"FBDI*=@%HS2446`6BDHIV`6DI**=@%HI**+`+FBDHIV`****+#"BB
MBF`4444`%%%%`!1110(BN/,$?[O.<C)7&0/;-1VYD,O#2M'CGS%Q@^W`/K3K
MR,RQ*@"G+C[R[A^(IEND<4^S[/#')MSNCQR,_GZ5:MRD._,6J***@L****`/
M-J?#_KH_]X?SIE.1MKJV,X(->N>0=;)I.H/?BX2]94W`A=QX'I52^T!U:[O)
MI%*!&<*OKCBJDGB:^+GRBJ)_""N2/QI#XBNYHI8KC:Z2(RX`Q@D5S*-5=C1N
M!0@N+J&W98&=$+9)4D<^E'VV\_Y^)O\`OHU)9ZE)90.D2H69LY=014W]NW?]
MRW_[\K6SO?1$%*XEFE9&G)+;<`GJ1DU#5B]NVO95D<`,%VG:,#J?\:KU2$:?
MAO\`Y#MM_P`"_P#037=UPGAK_D.VW_`O_037>8KS<9_$7H=V&^#YE2\R\T$!
M=DCD+;BIP3@<#/\`GI20+Y%Z8(W9HS'OVLV[8<X[\\_TJS-#'.FR5`R]<&D@
MMHK=2(DVY.2<Y)^I-<_,N6QK;6Y%>3!0(3"TQE!&Q<<COU^M5M.<O.&?>V^(
MF%G8$[,CT`P>GK5VXM(;ED:56)3.TARN,]>A]J;;V-O;/OA0J0NT9=C@>G)]
MJI2BHVZB:ES7)ZS]5(012[=S(3M#("G;EB>GUK1Q44]NEQM$A8J.JAL!OKZU
M$&HRNRI*ZL+"S/$K.%W$<[#D?@:)8UEC:-QE6ZC-/1%C0(BA5'0`8`I<4NMT
M/H4$L42\0JCF,*68F1CEP1C///&?RJ_BJJZ?:I*9?)4R%R^XCG.<U:S53=^H
MHJP8HQ1FDS4%"TF:,TE`"T9I**0!1110,**2C-.P!11FC-`"TE)F@T[`+FBF
MT46`6FE5)SC\J6BFD%A"#_"V/J,T9<'HI^AQ2TF:=@L&XCJI_"F^8O<X^HIV
M:*=D+4%$#D&:3;&.2<9ID0'ES-&3Y;-M'OBB2))$*L.HQFF00^2N#(SXZ`]!
M5II*QE*#<KDU%)14V-A:2BBF,****`"BBB@`HHHI@%%%%`!1110`4444""BB
MB@`HHHI`%%%%`!1110!'.NZ(KYAC+'`8=:K6.(II8?E9B=VY3UP`._.?SJW)
M&)%VDD8.00<$&FI`B%"N?D!`Y]>I^M6I*UB&M;DE%%%1<L****+@>;4445[!
MY`4444`%%%%`!1110!J>&O\`D/6W_`__`$$UWM<%X9_Y#UK_`,#_`/037>UY
MF,^->AVX;X0HI,T9KD.D6BDS24`+1FDHS0`N:,TW-&:`%SFDHS29H`7-%)FD
MS0,6BDHIV`7-%-HHL`N:,TE%58!<TF:**+`&:*2BBPQ:*2BG809HS2446`7-
M&:2BG88N:2BBG8`HHHH`****!!1110,****`"BBB@`HHHH$%%%%`!12T47`2
MBEHHN`E%+11<`HHHHN`4444`%%%&*0!1BEHH`3%&*6B@!,48I:*`$Q12T4`?
"_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>highincomex1x1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 highincomex1x1.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#`!`+#`X,"A`.#0X2$1`3&"@:&!86
M&#$C)1TH.C,]/#DS.#=`2%Q.0$1713<X4&U15U]B9VAG/DUQ>7!D>%QE9V/_
MVP!#`1$2$A@5&"\:&B]C0CA"8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C
M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V/_P``1"`-M`D8#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P"6DI:2O,/4
M"BBE`H`0"G**4"G@8I7&A,8I:#12N,****0PHHHH`****`"BBB@`HHHH`***
M*`"C-)1B@!:**6@`I*6DH`****`"BBBD`4444#"BBBE<`HHHH`****`"BEI*
M`"BBB@`HHHH`*2EHH`****`"BBB@`HHHH`****0!1110`44447`***6@!**7
M%%`@HHHH&%%+12N`E+124K@+12447`6BBBG<044447`@-%./M0!6Y(T"G@4N
M*6E<88HI:2I`***6@8E%+24`%%%%`!112T`)12TE(`HHHH`****8!12T4@"B
MBB@!****`"BBBE<8444M*X"44M%`A**6B@8E%+10`E%+24`%%%%`!1110`44
M44`%%%%`!1110`4444`%%%%`!10*6@`HHHI`%&***+@%%%%(!:*2EH`****`
M"BBB@`I*6B@!**6BD`44M%%Q"<T4M%%P(@*7%+16]Q!1112`****!A2T44`%
M%%)0`M)112`*6DI:`"DI:2@`HHHH`***6@`HHHI7`****+@%%%%(848I:*`$
MQ2T44"$HI:2@89HHQ12$%%+10,2BBB@!****8!1110`4444`+124M`"44N*,
M4""BBBD,*,4447`*6DHI7`6BDI:5P"BBBBX"44M%%P"BBBBX!112TK@)12T4
M7`2EHQ2T7`2BEHHN(2EHHI`%%&:*`(Z**6N@!*6BBD`#DU:BTZ>8D1&)R.NU
MP:JUK^'?]=-_NC^=:4XJ4K,SJ2<8W10>RDC<J[PJPZ@R#BD:RN%3>$WI_>0A
MA^E/U/\`Y",_^]4FBRM'J"*#\KY##\*=H\_*+FER\Q1I*U-=MD@N$DC`42@Y
M`]1_^NLRHG'EE9EPES1NA**6BH*$I:L?8)_LOVG:/*QG.:KTVFMP33V"BBBD
M,***2BX"T4"BE<04"EHI7`,44447`****+@%%%%*X!1113N`4444`%%%%(`H
MHHH&)12T4"$Q12T50Q*,4M%(!,48I:2@`Q2TE%%P%HI**5P%HHHI7`****+@
M)13L48I`)12XHQ1<!**6CBE<`Q1BBBBX@Q1BBEH`2EHHH`2BBE%(8E+11B@0
M448HH`**6B@!,44M%`$=%%%=`!1110`5K^'?]=-_NC^=9%:_AW_73?[H_G6M
M'^(C*M\#*6I_\A&?_>J?1H&^TBX?Y(HP26;@=*;J-Q,E_,%D(`;C%4Y)Y9?]
M9([_`%.:&XQFWY@DY02-*^ECU.[2..95"G:F0?F)[U3OK)[*14=E8L,\4FG?
M\A"#_?%7O$/_`!\Q?[G]:;M.#F]Q+W)J"V*EI8B[8)'.F_&2I!XJ&6#R;EH9
M'`VG!;!Q5W0/^/\`/^X?YBJ^I_\`(1G_`-ZI<5[-2\QJ3]HXFOL3^P=OF#;M
M^_@XZUAF*(,H%PI!SD[3Q^E;/_,N?\`_K6#5UVO=TZ$T5\6O4ORZ6T=F+A90
MX;&U0IYS4<5G$\@B>Z5)"<8"D@'TS6M))Y6@HXZ^6H'L36#%_K4_WA2J*,&K
M+<*<I23NR2\LY+.79)@YY!'0BFPP&12[,J1KP7;I]/<UK^(0-D#=\D?RJ'3;
MT1VK6XMWE8Y("C.<^M3*G%5'%O0%4DZ:D06]A'=;E@N5,@&=K*1FJDD;12M'
M(-K*<&M+2;>6*_4N`O!XW#/Y57UC_D)S?\!_]!%*4$J:E:SN5&3Y^6]T/MM+
M%S&SQW"E5.#\IJLEN@4-/,(MW*C:22/6M?0<?8Y<]-_]!6)*YEE9SU8Y^E.<
M8QA&5MQ1E)R:OL6;O3I+>-)5<2Q/C#+[TU+2/>(Y;E8Y"<;0I.#Z$UK1MLT`
M.1DJF1GL<\&N?HJ1C!II;A3E*2:;V+-[9264@63!#?=8=ZK5N:]S;0$]<_TK
M#J*T%";2*I2<HW84445B:!1113`****`"BBB@`HHHH&%%%%`!1110(****`"
MBBB@`I*6BE<8"C%%+2N`F*7%%%%P#%&***5Q!2T44`%)2TE`!12T4AB4M%%`
M@HHHH`****`"BEHH`*2EHH`2EHQ1B@044N*,4`)12XHH`BHHHK<84444`%:_
MAW_73?[HK)'!JQ'J%Q$28F1">NV)1_2M*<E&2DS.I%RBTA=3_P"0A/\`[U5:
MGDNYI=Q?RV+=3Y2Y_/%05$FFVT7%-))D]@P6^@8]-XJ_XA!^T1''&S^M9-7/
M[1N#&(Y-DH'3S$#8JXS7(XLB47SJ2+>@)MG9VX+J0H]1D9/\JI:G_P`A&?\`
MWJ2*]GBG,RL"Y7;DCH/I3)[F2X),FPDG.0@!_,#-$IQ]FHH2A)3YC8'/ASC^
MY_6L0QD1K(>C$@?A_P#KJ:WO9[>-HT(,;=589%,,\AD#G;D#`&P$`?3I2J5(
MS2"$'%LV+K_D7T_W4_I6+$/WJ_458.H7+1B-G4I_=,:X_+%0I,Z,64)DG/**
M?RR.**E2,FF@IP<4T:_B#_5P_4T7:_9M%C^S\;]N]AU.16=+?W,PQ*ZN!TW1
MJ<?I20W]S!'Y:."G]U@"*MUH.4GW(5*2BEV+.AQDWGF'A0"`?4^E1ZLC'4)V
M`^5=N3^`J`W<YE63S"&3[N!@#\*6XO9[G'FL#@YX4#-0YP]GR%\LN?F-70O^
M/*;_`'C_`"%81JU'J-S$I6-U0'J%C4?TJ`RL9`Y"9'H@`_+&*4YQE&*70(1:
MDV^IM?\`,N_\`_K6#S5O^T;GR_+WKL_N^6N/RQ4*S.KEP$R>N44C\L8HJU(S
MM;H%.+C>YKZ]_P`>L'U_I6'5N34+F4`2,C@=`T:G'Z55I5JBG*Z'2BX1LPHH
MHK(T$HI:2@`HHHH`****8!1110`4444`%%&*6E<!**6BE<`HI:2BX!BC%%%*
MX!12T4#$HI:*0A*6BB@`HHHH`****`"BBEH`2BG8HQ0*XVBG8HQ0`E&*7%+B
M@!**7%&*`$HQ2XI:`$Q1BEHI`)BC%+2XH$-Q13L44`5Z***Z"PHHHI`+24M%
M`A*6BBD`44=Z4"E<!,4N*7%%*X"4N*!12N`444&@`I***`"B@"EH`2BEHI@)
M2T44@"DHHH`****8!24M)0`44M%`"448I:`$I:*6E<!**6BBX"8HQ2T4K@)B
MBEHH&)2T44A!1110`4444`%%%%`!12TM`A**7%&*`$Q12TN*`$HQ2XHQ0`8H
MHI:0!1110`4448H`*!12XH$)BC%+1B@`Q1BEI<4Q"`4N*4"EQ0%QN**?BB@+
ME*EHQ16MRPHHHHN`#@UK:4D-Y)(LMO'A0"-N1_6LG%:_A_\`UTW^Z*UH.]1(
MRK:0;*E^4CN)88X(U4'`/.?YU7B<1DYC1\_WL\58U+_D(3?[U5:SJ2M-E07N
MHVWMK==+%R+=/,V!N^/YUE(/M-PB!4CW$+QTK:E_Y`(_ZY+_`$K`Z5MB+)QT
MZ&5&[3+NHV(LBFV3<'SU'(JE3GD>0Y=V8CC+'--KGFTY7BK(VBFE9L*5&VL&
M*AL=CTI**DHV&@@;1C.(460KG('3FL8UN_\`,O?\`_K6%73727+Z&-%[^HE%
M+17,S8?'*(P<Q(^?[P/%;%];V]O8B9+=-QQUSCG\:Q*W]5_Y!*_\!KIHZPE?
MHC"KI*)A2,';(55]EZ4VBBN;<W"BBBA`)1113`***,4`%%%'%)L`HI:*+@%%
M%%(`Q24M%`!111BD`448I<4`)2XHQ2T"$HI<48H`3%%+1B@!**7%&*`$HI:4
M"@!,4N*7%%`"4M&*,4`&*,44M(0E%+10`F*7%%%`!BBBC%,044N*,4`&*,4X
M"E`H"XW%.Q2XI:!-C0*,4\48H%<;BEI<48H"XE%+BB@+E&BG8H`JVS40"C%+
M12N`8K6\/_ZZ;_=%9-:V@?ZZ;_=%;8?^*C*M_#9!J#P"^E#0LS;N2'Q_2J_F
M6W_/N_\`W\_^M3]2_P"0A-_O55J:DWSO_)%0BN5'0SD'0LJ,#RQ@9SCI6-9R
MLEQ&HQAG`.5![UL2_P#(!'_7)?Z5B6O_`!]0_P"^O\ZZ*[?-'T,:2]V7J:6O
M*%:`*`.#T'TI%MUM-*^T[09G`PQ&=H/I^%.\0??@^A_I38I3=Z4T$F$*8"NQ
MPIQVS3E;VLN]M/N%&_LX]B/37-U,T%Q^\1E)&[J#[&DOY_+1[+R4`1OE8>G4
M4:>4LI6GG=.%(548,2?PJG<3-<3O*W!8YQZ5FYVII=?T-%&\[]/U-N)`^A!2
M<#;R?09YK*2^DB<>4%2,'[F!R/<UI?\`,O?\`_K6'55Y./+;L32BGS7[FKK=
MO&@CFC4*7X(`ZUE5M:Y_QZP?7^E8M9XE)5'8J@[P5Q#6_JO_`""5_P"`U@&M
M_5?^02O_``&JH?!/T%5^*)G:5(WVR*([2A)R"H]*LZOL@N%D"J7*@*".![XJ
MGI7_`"$8?J?Y&IM>/^G+_N#^9IQE^X;\Q-?O5Z%C2IC>>;!<A9%QD9'2LJ:(
MI<O"N20Y4>_-:'A__CYE_P!S^M1$J-=RW3SOZT-<U.+?<$^6<DB6ZA73+:,(
M`UQ)U<C.WZ4NDAKQY1</YB*/N-SG/?VIWB#[\'T/]*R`2#D$CZ4ZDO9U+=%T
M"$>>G?JRU'9>=J#6\;94,?F]`*FU"06LWV:U_=J@&YA]YC]:ET(;+N17!#E.
M,CZ55U7_`)",WU'\A4/W:7,MVQIWJ<KZ(L6*+J,<D,X'FJ,I)CG\?6JMN9+>
M\6$@#]X%8%0>]6M!S]L<]O+/\Q3+L@ZWE>GF*/Y4]X1GUO8+^_*/2Q<UE8XA
M%*44[<A5QP3[^U0:7=//<F"?;(C*>"HXI_B#[T`]F_I5;1O^0@GT/\JN<FL1
M9$12]C=BWL:6%PXC4%V.4SSM7_'K^56M,?[?#-%<@/MQAL<C-5-:_P"0@W^Z
M/Y59\/\`WI_H/ZTH/]_R+;4<OX7-U,DH1*8QR=VT>]:5W$--MXEC`\^3EGQG
M'L*K6Y`U1"W3S?ZUHZU/-"T/E2,F0<X/7I40BE"4BIR;E&)#IN+])8+D;R!E
M7_B'XUFS1F&9XVZJ<5-]NNO^?B3\ZBF\PR$RY+GDYZUG.<917==2HIJ3[#**
M7%)BL30**7%&*0!BC%+24`%&**6@!,44M&*8A,4M+BB@!*6BB@`HHHH`**6B
M@048I<4H%`#:44N*7%`A,9HQ3@*,4!<3%*!2THH"XW%**7%`%%B;A1BEQ1BF
M%Q*6BC%`!1110(****`*=%)13-PHHHI``ZUJ:7-;V<DC27"$,,#:K?X5ET5<
M)N#YD3./,K,MWWE2W$LT<Z$,<A<-G^55XT5R=TBQ_P"\#S^0-,HI2E=WL-*R
ML;3W=JVF"V%PN_8%SM;'\JSH4C2X1FN(\*P/1N>?I5:EK255R:;6Q$::BFD]
MS4U6>WNS&8IU^0'(*MS^E.MK>WO[6(&4H\2X91CUZUD@9(&<>]:6K(+9(8(A
MMB(R<?Q'WK6,^;FJ21#CRVA%D_\`9%M_S]?J*IWFGFV9#YJF)^`Y'3ZXS5*K
M<N8=/6%_ON^_:?X1C^M2Y0DG:-AVE%KWKES[3;?V7]E^T+OVXSM;'7Z5EK&I
M<J9D`'\1#8/Z9J.BLYU'.UUL7&"C>S-?4KBVNX8TCN$!4Y.Y6_PK(I:2E4J.
M;NPA!05D/C17!W2I'C^\#S^0-:][=VMQ8B!+A0PQR5;''X5BTM.%1Q326X2@
MI--]"W8^5;W:2O<1[4/8-SQ]*?JLD-S/YT4RD!0-N&!/Z8JA11[3W>2V@<GO
M<US2TJ:"TD:26=?F7&`K$C]*K7I1KEYHI58,V0`""/S%5J*'4;@H`H)2YC2E
MNXK^V2.=O+F3HY'!_P`*K"&&,[I9D<#^"/)+?X56HH=3FU:U!0MHMB9;J1;K
M[0IP^<^WTJS=O#?.)DD6.0C#H_'X@U0HJ54=FGJAN*O=&C;7$>GPOL82SOQQ
M]U?Q[U6MRIG66695PX8[@23S["J^*7%#J-V[(7(M?,T]6GM[O8T4Z_(#P58$
M_I4.F/%!<+-+,J@`C;@D_P`JIXHQ3=9N?/;42II1Y;ES4WBGN&FBE5@0!MP0
M?Y58TJ:"TWF6=?G`X"MQ^E9F**%6:GSVU$Z:<>6Y+.JB0LDJON)/R@\?F*MO
M<QWULD<[^7,GW7(X/UK/I:E5&F^S&XIV\B<10PG=)*DF.B)DY^I[5#([22,[
M=6.3245+E?1#2"BBBI*"BBB@0448I:8"8I<44M`!BC%%%`@HI:,4`)BC%+1B
M@!*6E`I<4"$`I<4N*,4!<3%+BE`I<4"N-Q2XIV*,4PN)BC%+BEQ0*XW%+2XH
MQ0`8HQ2T4"$HI:*`$HHH%`!1110`4444`4:***1T!1110`444^*)YGV1J6/\
MJ:5]$+8915C[*,X-S;Y]-Q_GC%(UI.I8;,A5W;AR,>N:KDEV%S(@HHH-(85:
M2^E6(1.$E0=!(,XJI134G'832>Y:^V,O,<4,9_O*O/ZYJNS%F+,22>I-)1BA
MR;W!)+8,4`44M(8444E`"T4E%`!12[6"AL'![TE(`HHI54L<*"3["@!**7%&
M*0!0*7%`%`@Q2XI:*`"BBIHK9YMH1H\MT&\9_*A1<M$)M+<AHJS)831$"0QH
M3TRX%(EG)(VU'B8^@D%5[.=[6)YX[W*]%3W%I+:[?-`&[.,'-0U+BXNS&FFK
MH2BEHI#$I:6B@!,48IV*,4Q"48IZ)O8+D#/<G`J<V,H@,V4*#N&S5*,I;(ER
M2W*N*,4[%+@5)5QH%+BEQ2XH%<:!2XI0*7%`7&XI0*=BEQ3L*XW%`%/Q2X%%
MA7&8HI^*3%%@N)2TM%`KABC%%+3`3%%+10`E%+10`E%%%`!1110P"DI:*0"4
M4M%`"44M%`%"BBBD=`4444Q!6B(S'H9D0<R/\Y_V>1_.LZM?2;R$0FUN-H!)
MP6Z'/:MJ"3DT]+HSJW2NC(J_87)$%Q;,25>-BH]#BM";1;:3YHV://IR*S;K
M2I[92XQ(@ZE>WX5I[&I2?-8CVD*BL4J*,9.!5E[00!?M,GELPR$"[B![USJ+
M>QLVD5J*M7%D\4*SHPDA;HX[?45!%$\T@2-2S'H!3<&G9@I)JXREJQ);Q0ML
MEG^<=0B[L?C1/:/"L;D@Q2='P?Y4^22%S(KT5>CTUI;=IHYD9%SV(Z53C56;
M#.$'J03_`"I.$HVOU!23V&TE79]/:&U%QYBLAQC&>]16MLMRZH)E5V/"D&AT
MY7Y>H*<;7*]%7I=-:*Y$)D7&`2Q'`R<`47>G&T=`\R['S\V#P?I3=&:3;0O:
M1?4DFU*.73EMQ$0^`,]ACN*J6UM+=,5B`)`R<G%6)M-,5G]I$H93@@`=<U9T
M-%65V$@)*<K@\<UKRRJ5%&H9<T80;@94D;12-&XPRG!J[IEZEF9-Z%MV.5ZT
ME]'']JF;SEW;B=NTTMIIXNL[)UR`,C:>*B,9QJ>YO\BI2C*'O%65Q),[A=H9
MB<>E-Q3I$\N1DSG:2,U-]E,<2R3OY8;[HQEC^%9<LI-E\R2*^*,5:>S/V?SX
M7$L8ZX&"/PJ*"%YY-B8SC))Z`>M#A).UA<R:N18HJP((G.V.<%NV5P#^-1S1
M-#*8W^\,9I.#2N"DGH1U9T[_`(_X?]ZJ]6=/_P"/Z'_>JJ?QKU"?PLMZY_K8
MO]TUF;3C=@XSC-:VL0RRRQ^7&[X!^Z,U5GMGM[%/,&&9\X].*WKP;J29E2DE
M!(2XF,]E`7)+HS+GUZ54Q5FVMOM!"+*`QYVD&F7%N;:8QL02.XK*:E)<[+32
M?*B'%+BKEO8?:"?+F4XZ\&JXC'F%&8*`<9Q4N$DDWU'S)Z$>*7%77T\I;"99
M`X.,`#KFFQVT;.(VG57/&,9&?3-4Z4T[-"YX[E7%&*GN+=[:38^.>01WHM[=
M[A]J#IU)Z"IY)<W+;4.96N0XK53_`)`9^A_]"JF8(BVU)U9NV1@'\:O!2-&*
MD8(!!'_`JZ*$6G*_9F522=O4R,4`4[%.Q7+8VN-Q1BG8I<4["N-Q2@4[%`%%
MA7$P*,4[%&*`N-Q2TN**8"48HHH`*,48HI`%%%%`!1110`4444`%%%%`!24M
M%`"44&BD`4E+10`E%+10!0HI*7%%C<**!13`*5T9-NX8W#(]Q29K4N;83:=;
M/&0953[O<K_]:KA#F3MT(E+E:,^*YGA_U4KK[`\5K:;JCS2B"XP2W`8#^=8E
M7--3_21,QVQQ?,S'M5T9S4DDR:D(N+;1<LK1!K,PQ\L664?RJ+4DMVOY3).Z
MMQP(\XX^M)8WP74WEDX24D'/;TJ/5XV34'8CY7P0?7BM9./LM%U(BI>TU[%F
M"\M(K%[9GD<-GG9CK^-3:'$$M9)L?,Q(!]A63;Q!V9I,B)!EC_(?C6IH<ZF)
M[=CALY7WIT9\TX\WR%5C:+M\S&)W$DG)-7[[4_M=NL0BV8.2<_RJE)&T4C(X
MPRG!IZQ#[,TKY&2%3W]:Y8RFKQ7S-VHNS9KZ9_R")?\`@7\JPZW-*.[2YE'+
M#<,?A6-'&TCA%')K:MK"%NQC3TE(U[O_`)`47T6J&EC_`(F,/U/\C6EJ&W^Q
MTV<J`H'TK/TS_D(0_4_R-75TJP^1,/X<OF6-;D(N41<C`W9'K5&>XFN2IF<M
MMZ<"KFM?\?H_W!_6L_%8UY/VDD:4DN5&U<_\@)/]U?Z5!H?_`!\2?[G]:GN?
M^0&G^ZO]*@T/_CXD'^Q_6NA_QH>A@OX<O4J7_P#Q_3?[YJ]H7WYOH/ZU3NT+
MW\X'8DG/H*N:%]^;Z#^M94E^_P#FS2I_"(+>$3:JRL,J'8D?2I]66%KH>9,R
M$(,`)GU]ZK1S"WU-I#]T.P/TJ765S.DJ\HR<$=*::]E+3J+7G7H.LKNUM(W0
MN\@8_P!S']:;I31?:98R<+("%SW%4H(O-D"]%ZL?0=S4L=OYT<[Q`_NR"![5
M,:DGRZ;%2@M==RU+HTJDF*16'8'@U1N1+Y[>>N).,U+%>7,1&V5B/1CD58U5
MQ(T!(P^S+#TSVI2]G*#<-`7,I)2U,X59T_'VV+_>J#%6+`?Z;%_O5E3^->I<
M_A9;UDD2QX)'RGH:K22O+9(')8J^`3Z8JSK/^MC_`-TUG5M7DU4DC*FKP1;T
MK_C^7Z'^5&J?\?K?0?RHTPA;U,]\C]*=J@_TUO<"G_S#_,/^7OR)M%^]+]!_
M6L^4?O7_`-XUJ:2FQ'S]YL''MV_K6;(/WK_[QHJ*U&'S"+]^1J._EZ2K#KL&
M*R4^^OU%:L__`""%_P!U:S$'SK]:>(?O1]$*ELS1UA05B/?)IUNGE:4Y'#,I
M)-&K?<C^IHM7\W3WB'WU4C%;NWMI>AE_R[1E@5JEM^DDGKC!_.LT*2<`<UJ,
M@32RHYP.?KGFL,.G[WH:5.ADXI<4[%&*YS2XW%+BEHH$&*2G4E`"44N**`$H
MQ110,,44M)0`4444`)1BEHH&)BBEHH`2BE-)2`*2B@T""BBB@844E%(`HH-)
M0,,T4W-%`6*M%%%,V"DHHH`*>99"R-N.4&%(XQ3**+V"Q8^V.W,D4,C?WF09
M_2F37$LRA6("#HBC`'X"HJ*;G)Z7$HI!5A+R98Q&VV1!T$BAL5!1BDI..P-)
M[DDUQ),`K$!1T51@#\*C4E2"I((Z$48I0*3DV[L-$M"P;V5\&58Y"/XG0$U%
M)*\K9D;..!V`^@I,48IN<GNQ));$EO<2VSEHGVYZCL:=)=22`C")N^]L4#/U
MJ'%+BCGDE:^A-E>]BP;Z<PK%E-B@``H#_.F1W,L3;DV*V<Y\M<C]*BQ2T<\G
MK<.5=B:6[FFSYA5B1C)1<_GBHD8HVX`$^X!'ZTE%)R;=VQI):(L&_N#'L+J4
M_NE%Q^6*B2:2.7S4;:_L`/TIE&*;G)ZMBY4NA--=R39W;06^\57!/UIT5Y/$
M,1LJ?1%Y_2H,4H%'/*][BY5:UA\DC2G+[<YSD*!G\J?%<21IL!#)_=89%1@4
M8I*4D[W"RM8>\[NNSY53^ZH`!I$D>,'8Q7)!X]J;BEQ3YG>]PLMB7[0V<[(]
MW][8,U&Q+L68DD]2:3%+BAR;W%HA*ECGDCQLV`CH=@S^>*CQ2XH3:V!V>Y*]
MW-(07*L1_>13_2H2"23ZTX"EQ3;<MV+1;#1D$$<$=#5EKN5P`^QB.A902*@Q
M2XIQDX[,32>Y+%<RQ,S*WS/U)YI#*S,&(3(_V!_A3,4H%/FE:UQ61*;J8IL+
M*5]-@Q_*HU=E8L`N3ZJ#1BC%#E)[L5D2O<RR##L&^JC_``J-&:-@R$@CN*3%
M%#E)N[862)3<.22`H8]6"@&A;F58A&"-H[$`U%13YY;W"R!B6.3C\!BBBBH&
M%)2T4`%%%%`"44M%`"4444`%%%)F@!:0T9I,T`+2444ABTE&:2@8M(:,TA-`
M!11FD)]*0"TE)FC-`["YI,TF:0FD.PXFDS3"U-+4!8D)HJ(DT4#L14444[F@
M448I<&@!*7%`%+BD`F*7%+BEQ1<5QN*7%+2BD*XF*`*=0!0(**7%*!3"XVBE
MQ2@4@N-HQ3\48H%<;BEVT[`I0*87&;:7%.HH%<3%`%.Q2@4!<;1BG8I<4["N
M-Q2XIP%+BBPKC-M*!3L4N*=@N-Q2XIV*7%`KC<4N*7%+BG85QN*7%+BDI@%`
MI<44`%%%%`!1110`4444`%%%%`"4444@"BBDH`***2@!:2BDH`=2&DS10,**
M0FD-(8M%-S1FD%A<T9II-)F@=AV:0FFDTA-`[#LT9IA-)NI7'8?FFDTS<:":
M!I#B:;FDS1FD%A:2DS030.PM%-S10%AM*!3L"@"G<=Q,4N*7%%(5Q`*7%+BC
M%`!BC%*!2XIB&XI0*=BC%(!,4HI<48IB$QS2TN*7%`#<4N*7%+B@5QN*7%+B
ME`IA<3%+BG`48HL*XW;2XIV*4"G85QN*`*?BC%%@N-`I<4[%+BG8FXW%+BEQ
M1BG85Q,4N**6BP"8HHHHL`M%%%`Q**6B@!**6DH`***,T`!HHHH`**2B@!:2
MBB@`-)0329I`+1FDS29H&*329I":3-(+#LTF:;FC-%QV'9I,TPFC-*X[#LTA
M-,W4A:BX[#\TA-,W4A:D.P\M2;JCS2YH'84FDS29I,T!8=FDS3<T`TBK"YHS
M29I*8"YHS244`&:2BB@84444`28I13L4`4B+B8HQ3Z,4!<;BJLES*SM':0B5
ME.&9FVJI],]S5W%8.CZE.UVNGRVX4H"&8=<CDD_4_P`ZUIPNF^Q$I6:1)=:G
M?6&UKNS1HB<%XGZ?G6E9W45Y;K-"V5/KU!]#2:E$LFG7*O@#RV.3VXZUC^$-
M_E76<[-RX^O.?Z5IRQE3<K6:(YFI6-C)_M+;DX\G./QJR!5?'_$T_P"V/_LU
M6L5C);%IE.6YE:1H[.$2LIPSLVU%/IGN?I5*ZU._T_:]Y9HT)."\3]/SJ+1=
M3N&O%TZ:V"E`0S#KD<DGZG^=:^IQI)IMRCX`\MCD]N.M;<JA)1DC.[DKIBV=
MU%>VZSP-E#Z]0?0U4.IF>]:TL8Q*R?ZR1CA%_P`:S/"OFFROPN<8&S_>P?\`
MZU/\'!?+NNF_<N?7'/\`]>KE1C#F>]A*;=O,U+NYNK*$SR11S1+]_P`LD,H]
M<'K5FTN(;R!9H&W(WZ>QIUV%%E.9/N>6V[Z8K#\&"0V]T3_J]Z[?KCG^E0H*
M5-RZH;E:5C8O25^S[21F90<'K5K%5[X?\>W_`%W7^M6L5FUHAWU(IY8[:%YI
MF"1H,DFH8I;N>,2QQ1Q(>564G<1[XZ?K6/XAN?/U6RT[_EF9$,@]<G`'Y?SK
MI0*T<.6*;ZDWNRI9WJW$DD+IY5Q%]^,G/X@]Q5/6M;72I(HQ!YS."2-^W`[=
MC[_E5+Q#/_9VLV-ZG!(*OC^)0?\`Z];L$`6XFN"0S2X"D#HH'`_/)_&JY8QM
M)K1BNWH<[_PF/_3A_P"1O_L:L6/B=KV]BMDL<&1L$^;G`[GIZ5T54X#]HNY)
M^J19BC]S_$?SX_`T^:FT[1_$5I=RW2TE%8EBT444`)1110`4444@%HI**!A1
M0:2@!:":3-%(`S1129H`6C-)FD)H"PN:3-)FDS0.P[-(33<TA:E<=AV:":9N
MII:E<=B3-(34>^D+47'8DS2$TS=3=U%QV)"U-W4S-)FD.P\M2;C32:3-`[#L
MTFZD)I,T!8=FD)IN:7-`[!FC-)10%A<T9I**!B4444`%%%%`!1110,****`"
MBBB@"SBEHHH,@Q2BC%+BG8388I-O.<<TX"J]S<,C"&W4/<,,@'HH_O'V_G34
M;LF]BCK4SRH-.M1NN)_O?["=R:O:?8QV%HD$?..6;^\>YI;*R2U#-GS)I#F2
M4CEC_0>U3K(C3/$#\Z*&(]CG'\C6DG[O+'8GK=E;'_$U_P"V'_LU6\57Q_Q-
MO^V'_LU6P*F2V!,:%&<XYK)UR9Y5&FVHW7%Q][_83N36A=7#(P@MU#W##(!Z
M(/[S>W\Z+*Q2T#,3YD\AS)*1RQ_H/:JA[OO,3UT&Z=81Z?9I!'SCEF_O'N:R
M_P!R-8D.D9:X/^O'_++\3V/TK0U>Z\JPO%A8B:.(-QV#9`/Z&LWP8B_8)WP-
MQEP3[8'^-:Q3Y939+>JBBSJ_VHVI%RFVT(_>FW.Y\?CCC\ZO:8+3[#']A*F#
M'&/Z^]6F4.A5AE2,$5R7@R:07D\`)\LQ[SZ`@@?U_2A+FIOR!NTO4Z2_'_'M
M_P!=U_K5K%5;_P#Y=O\`KNO]:M5D]D,XO4"3XR3)Z3Q#_P!!KM:Y37H/L_B*
MRN\821TR?=2/Z8KJJVK.\8OR(@M6<KXU_P!99_1_Z5T.FL7TRT9CEFA0D_\`
M`16!XLC:YOK&WCY=\@?B1731J(XU0=%``HF_W44$?B9!J$[06V(O]=*PCC_W
MCW_#K^%300K!`D2?=0`"LEKE;GQ1';YRMK$S?\#./Z&MC-9R7*DBUJ+11169
M044E%`"TE%)2`7-&:3-)F@+#LT9IN:3-`[#B:,TPFDW4KA8?FC-,W4FZBX[#
MR:3-,+4FZBX[#\XI,TS=32U*X[$N:0FHMQI"U%QV)":0M4>[WH)I#L/W4TFF
MYHS0%A<TF:0FDH*L.S29I*2@+#B:3-)10`N:3-%%`!1124#%I*6B@`I*6DH`
M*6BB@`HI*6@04E+24#04444#"BBB@044M%`%L"EQ3MM."U5C"XP"EQ3]M+BG
M85RO<^:MM*;=0TP4[`>A/:N=@C\1P!MENF6.YF)0EC[G-=5BC%:0GRJUDR)*
MYS6_Q1_SPC_-/\:TM$BU!?M$NI#$KL,#(Z`>WUK4HJI5+JUDA*-GN5,?\3;_
M`+8?^S5-<F9;:4VZAI@IV`]">U-\IOM_G<;/*V_CG-3U#>Q1RT">)8`VRW3+
MG<S$H2Q]SFI/,\4?\\(_S3_&NEHK7VU_LHGD\S)TFWO9(KHZL@+3$+MR"-N.
MG'UJ&PL;K19Y5A0W5I(<X4@.A^AZUN&DJ?:/7S'RHH7ES=20M%9VLGFN,!Y,
M*J>_O3-$TA-*@8%M\TGWV'3Z"M*BIYW;E06UN5;_`/Y=O^NZ_P!:M5!=1-+Y
M.W'R2JQSZ"IZE[(95U&QBU&T:"7C/*L.JGUJ.&YNH8A'<VLDDB#&^+!5_?DC
M'XU>HIJ6EF%NIG6MD[W[:A=J!,5VQQ@Y\M?KZUHTE&:ER;W!)(YJWTR^B\4-
M<E#Y)D9O,SQM(/'ZXKIJ3-)FJG4<[7",;#J2DS29J"K#LT9IF:0FE<=A^:0F
MF[J:6HN%A^:3--W4TM2N.Q)NI"U1EJ3=1<=B3=32:CW4;J0[#RU)NIF:3-`[
M#]U)FFYHS0%A<T9IN:,T#L+FD)I,T4`&:,TE+0,,T9I**`%-%%%`"4M%%`Q*
M*6DH`****`"BBB@`HHHH$%)110-!1110,****!!112T`)12XHH`2BEQ2XH%<
M;13L44!<T>**6DK4YQ:*2B@!::TB)C>ZKGIDXI:RM+O(WN;FWN2%O!(V0_!9
M<\8]1BFHW38F[&MD457M;5;8S;3Q(^X#^Z,#@>U2":(YQ(G')^8<4GY`/HJ+
M[3!A3YT>&.%^8<GT%.$L9D,8D4R`9*YYQ]*+`2456D$4UQ$/M!62)BVQ'QNX
MQR.XJ9Y%3&YE7/3)Q0P'TE1^='ACYBX4X;GI]:;]I@VAO.CPQP#N')I:C)J*
MB>:.,@/(JD]`2!FA9HW=D6169>H!Y%+4"6DJ)9HW8JDBL1U`;.*59%<91@P!
MQD'/-`R3--9@!DD`>]1-/&N[,B#;URPXJKJ\WEZ;,RX+L-J?4\#^=-)MI`]$
M7]P(R#D4TR*#@LH/UJ&VC6WMHH5Z1J%_*LV<+<>(84V@K;Q&1OJ>!1%)M@]#
M9#`C(.1[4A-9%RY.L6J6HY7<9RHX"]@:T7E1/ONJ_4XI25K>8UJ2[J3=4!N(
MPP4R(&/0;N:%E5P2C!@/0YJ=2K$Q:FEZB:55.&=0?0FD>6-"`[JI/3)QF@=B
M7?2;JIW5]%;0-*6#[3C:K#).>GZU85MR@C!!]#19VN/38?NI,TW-&:06'4E)
M12'84TE%+0`E(32TAH&&:,T44P#-&:**`"BBB@`HHHH`****`"BDHH`6BDI*
M!BYHI**`%HHHH$%%%%`"44M`%`"4M+BC%`#:,4[%+BBX7&XHQ3\48H%<:!2X
MIP%*%H"XW%&*>%I=M`KD>*4"G[:7;0%QFVBI,44!<LT4E%:F(M%%)2`9/,D"
MJS]&=4'U)Q575-.M[V!FE7;(@RDHX9<>]69X8KA0LR!U!W`'IFF_9XRNUF=D
M_NLQ(_'U_&JB[:H&KF49KJXMM*MWSNN!NF).-P49P?K5J\Q:^;?2NH:&!ECC
M7@`<?GSBKDT4<VW>.4.58'!4^QIDMK#-$8Y5+J2"<L<G!R*KG6@N5F5+:>3I
M=E89_>3R('/?CYFJR=CZVO9+2+K_`+3G_`?K5UX8WG29ES)&"%.3QGK3%MH5
MN'G"G>Y!;DX)`P#BCVG]?UY!RE:!Q+K%S.Q^6(+;I]3R?YBFZ9/YEK-J-PV-
MY8\_P(I(Q^AJW';Q0N[HI!=BYY)&3U--^SP[63;\C$DID[<GKQ4N:V]!J+*-
ME,MGHDER>'D5I\?7I_05%+;"#1[:Q_Y:7#*C'OUW-_6M`VEN;<0,I:,8X+'M
MTIT\$4[QNX.Z,DJ02",C!Z4_:*]_/_A@Y'8JWS+=WUE;*<HK&9OHO`_4T1.K
MZQ-+P$@18%P.Y.3_`$JRL423F95`DV!,_P"R.V*;'!%%(\B*078N>3C)X)Q4
M\ZM8?([E.WN5BM[_`%%S]]VV^X7@#\\_G3'>2STBWMXV*SRLB,P_A+G)/UZU
M:-C;F!H=A,9S\NXX&3GCTJ1H8VCV,,C(;DDG(Z'-4ZD;AR,JZDL?E6M@H&))
M`-O^R.3_`)]Z6]D6XO;.$'Y%8S-Z87@?J:F>VB=U=@Q=>C;CFE:WB:82E?F"
M[.#@8],5*FE;YE<C)PX901T/-9>FJMS<7US(H822;%W#/RKQ6@R[A@Y_`D5'
M;VT5J@2!2J^FXG^=3&247YC<;M%71YF(N;=CD6\I1?7;VIMAY]S:R7#%5><G
MYFY*KT`Q5L6L0F:55*N^-Q5B-V/6@6\48./E0G)7/RY^E4YIWMU$HOJ4X(D;
M48HD):*TA&,^K?\`UA2B=Q>W\Z`F.*(+[,P!/_UJ-,19XY;DD[II"V0<';T`
M_2KZ1I&FQ%`7TISE9M/^NX1C=7*$1\C16EE^9WC+N3SN)'3^0J,H\K:=:S$E
MT7S9/P&!^IK06WC`48)5?NJ3D#\*<(8Q.9@O[PKM+9[4O:+5CY2C<Q(;VVMX
MT507,TF!C.WI^N/RK05@RAAT/(J.2VBDF$K*=X7;D$C(]#4V*B4KI%)6;$HI
M<45!0E%+10`E+244`+1244`+28HHS0`8I*6DI@%&:*0T`&:,T44#"DI:,4`)
M12XHQ0(*2G8HQ0`E%.`HVT!<;2XIP6G;:`N1XI<4_;2[30*Y'BEQ3]M+MH%<
M8!2[:?M%+B@&Q@6C;4F*7%.PKD>VC;4N*,46%<CVTNVI,48HL*XS%+BG8I<4
M6"XS%+BG8I<4[!<9MHI^**+!<6C-,W4A:G<5A^:3-1[J0O2N.Q*329J+?2;Z
M5QV)2U(6J(O2;J+CL2%J3=4>:3-`6)"U-W&FYHS0.PN:3)I**0["YHS24&@`
MS1FDI:!A2TE%(`Q112TP"D(!&",BEHI`(%"]`!]*6BB@`HHHH`****`"BDHH
M`**2B@!:,TE%,`HHHH`,T9HHQ0`8HI:,4`)BC%.`I<4"&8I<4_%&V@+C,4;:
MDVTH6BPKD>*7;4FVE"T[!<BVTH6I=M&VBPKD>VE"U)MHVT6%<:%I<4[%+MIV
M%<9MI=M/`HQ18+C=M&VGXHQ185QFT48I^*7%.P7&8I<4X"EVT6"XS%*!3L4N
M*+"N,Q2[:=BBG8+B;:-M+1185Q,48IU%%@N-Q13N:*+!<IEZ;NIE+FHN;6%+
M4F:2BD.PN?>C-)1B@`S29I<48H&(30#2XHQ0`9HHQ2T`)12T4`)1BEHH$)BC
M%+10`F*,4M%`!1110`444E`"T4E%(8M%%%`"44M&*`$I*=BC%`AN*7%+BEQ3
M"XW%+BG;:4+3L%QF*`*DVTNVBPKD>VC%2A:7;0*Y%MI=IJ0+2XHL%Q@6C;4@
M%+BG85R,+2[:>!2A:+"N,VT;:EVT;:=A7(]M*!4FVC%.PKC,4;:DQ1BBP7&8
MHQ3\48HL*XW;2XIV*,46"XW%&*?BC%.P7&8%+@4[%&*+"N-Q2XI<446"XE%+
M118+B8HQ2T46`3%+BBB@`Q1110`4444`%%)10!G44N#1BLCI$HI<44""BBB@
M`HHHH`****`"BBB@`HHHH`*2EI*!A111B@`HHQ1B@`HI<48H`2@4N*=B@0S%
M+BGA:7;185QF*-M2!:7;185R/;0%J7;2[:=@N1;:7;4FVEVT6%<C"TNVI0M+
MMIV%<BVTNVI-M+MIV"Y'MHVU)MH"T6%<8%I=M28HQ3L*XS;1MJ3%&*=A7&8I
M=N:?BC%%@N,VTN*=BC%.PKB8HQ3L48HL%Q*3%.Q1BG85Q*,4M%%@#%&**2@!
M<44E%`"T4E%(`HHI*`%HI*,T#%HHS1D4@"BDI#1<+#J2DS1FBX["T4TFC-*X
M6'9I,TTFDS1<=A^:*9FBD%BI165_PD>E?\_7_D-_\*3_`(2+2O\`GZ_\AM_A
M5>RG_*_N+YX]S5-)67_PD6E?\_7_`)#;_"C_`(2+2O\`GZ_\AO\`X4O95/Y7
M]P_:0[FK25E_\)%I7_/U_P"0W_PH_P"$BTK_`)^O_(;_`.%'LJG\K^X/:0[F
MI167_P`)%I7_`#]?^0W_`,*7_A(M)_Y^O_(;_P"%'LJG\K^X/:1[FG169_PD
M6D_\_7_D-_\`"C_A(M)_Y^O_`"&_^%'LJG\K^X/:0[FG169_PD6D_P#/U_Y#
M?_"C_A(])_Y^_P#R&_\`A1[*I_*_N#VD>YJ45F?\)'I/_/W_`.0W_P`*/^$C
MTC_G[_\`(;_X4>RG_*_N%[2/<TZ,5F?\)'I'_/W_`.0W_P`*7_A(](_Y^_\`
MR&_^%'L9_P`K^X/:1[FGBC%9O_"2:1_S]_\`D-_\*7_A)-'_`.?O_P`AO_A3
M]E/^5B=2/<T@M+LK-_X271_^?O\`\AO_`(4?\)+H_P#S]_\`D)_\*/93_E8O
M:1[FELI0E9O_``DNC?\`/Y_Y"?\`PI?^$FT;_G\_\A/_`(4_93[,/:1[FF%I
M=E9G_"3:-_S^?^0G_P`*7_A)]%_Y_/\`R$_^%'LI]F+VD>YI[:7%9?\`PD^B
M_P#/Y_Y"?_"E_P"$GT7_`)_/_(3_`.%/V,^S%[2/<TPM+MK+'BC1?^?S_P`A
M/_A2_P#"4:+_`,_G_D)_\*/93[,7.NYJA:7;63_PE.B_\_G_`)"?_"E_X2G1
M?^?W_P`A/_A3]E/LPYUW-4+3MM9'_"4Z+_S^_P#D)_\`"E_X2K1?^?W_`,A/
M_A1[*?9BYUW-?;1BLC_A*M%_Y_?_`"$_^%'_``E6B_\`/[_Y"?\`PI^RGV8N
M==S7Q1BLC_A*M%_Y_?\`R$_^%'_"5:)_S^_^0G_PH]E/LPYUW-C%&*R/^$JT
M3_G]_P#(3_X4?\)5HG_/[_Y"?_"CV4^P<Z[FOBC%9'_"5Z+_`,_G_D)_\*3_
M`(2K1?\`G]_\A/\`X4_9S["YEW-D"BL?_A*M%_Y_?_(3_P"%'_"5:)_S^_\`
MD)_\*/9S[,.9=S9HK&_X2O1?^?W_`,A/_A1_PE>B_P#/[_Y"?_"CV<^S#F7<
MV:*QO^$KT7_G]_\`(3_X4?\`"5Z+_P`_O_D)_P#"CV<^S#F7<V*6L;_A*M%_
MY_?_`"$_^%'_``E>B_\`/[_Y"?\`PH]G/LPYEW-FDK'_`.$KT7_G]_\`(3_X
M4A\5:+_S^_\`D)_\*/9S[,.9=S9HS6+_`,)5HO\`S^_^0G_PH_X2K1O^?W_R
M$_\`A1[.?9CYH]S:I*QO^$JT;_G]_P#(3_X4?\)5HW_/Y_Y"?_"E[.?9AS1[
MFS25C?\`"5:-_P`_G_D)_P#"C_A*=&_Y_/\`R$_^%'LY]F/FCW-FBL;_`(2G
M1O\`G\_\A/\`X4G_``E.C?\`/Y_Y"?\`PI>SGV8<T>YM9I,UC?\`"4Z/_P`_
MG_D)_P#"D_X2G1_^?S_R$_\`A1[.?9CYH]S:S1FL7_A*='_Y_/\`R$_^%'_"
M4:/_`,_G_D)_\*7LY]F'-'N;.:,UB_\`"4:/_P`_G_D)_P#"C_A*-'_Y_/\`
MR$_^%'LY_P`K#FCW-K-(6K&_X2C1_P#G\_\`(;_X4G_"3Z/_`,_G_D-_\*/9
MS_E8<T>YLYI,UCGQ/I'_`#]_^0W_`,*;_P`)/I'_`#]_^0W_`,*/9S_E8^:/
M<V2:,UC?\)/I'_/W_P"0W_PH_P"$FTC_`)^__(;_`.%+V=3^5CYH]S8)I,UC
M_P#"3:3_`,_?_D-_\*/^$ETG_G[_`/(;_P"%+V=3^5_</FCW-C-%8W_"2Z3_
M`,_?_D-_\**/9U/Y7]P<T>YY_1117M'GA1110`4444`%%%%`!1110`4444`%
M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44
M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111
M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%7=+T
MNYU6X\FV7/JW85#9V[7=W%`@R78#]:]:TC3(=-L4AB0`@98]SWK*I4Y-BHQN
M8VG>"K"W0?:OW\G?D@?SK0_X1S2`O_'F,>NX_P"-4%\2W=Q<31VFGF58SC/^
M344FLZW]K3_B783;RF>2>?>N=^T?4T5D27_A#3;B,^0IA;'!!)_K7%:SHMSI
M,N)1NC)^5Q777/B*\M@ANM/,2NP&?\FM"Y2&]M=DRY210<'MD4U4E"W-L)Q3
M/+J*NZM8MI]\\)^[U4^U4JZT[JYD%%%%,`HHHH`****`"BBB@`HHHH`****`
M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*
MFM?)\]//4M&3@@'!J&G1_P"L3ZB@#K?^$<T_[.)\R[2H;&:S]/TW3M5\Q+<R
MPN@[_-73$;M-&2%!B')^E<_HSV.E&626]1]X`P@^M<<*DY1EKK<V<4FC'U"P
M?3;L13G<O7([BM^QT+3KVS2X42*&'3=[XK&US4QJ=V'1=L:+M`KJ?#W_`"!+
M?GLW\S5U9SC33V9,4G(Y+44LX+XQ0)($C<J^6ZX-7=1LM.M]+AN88Y=TX.W+
M?=K.U7_D*77_`%U;^=:>K_\`(O:;^/\`2MM=">Y'X=TVUU`W!NRP6)-V0<>E
M:VFZ!I.I1RO")@J/MR6Z]?\`"N:MKY[:TN8%'^O4`MZ<@_TKL_`:[M+EYZ2#
M^M9U7**;N.%F[%.#0M%EU633V,J3)]TEN&KE+F-(;QXP"8U?'OBMK7KIK+Q<
MURHW&*0-@]\&L*XE,\[RD8+G.*TA=I-BE8[31?#&EZOIT=VBRINR,%L\@X_I
M63XE\/+HMQ%(F][1SSZCVJW#?RZ=X6TRXB8_+.=P]1EZ[(_9=?T?((,<R\=]
MIQ_.L93E%W>Q5DT<#K-AI=GIUO/#'+YERFY<MPO^-<]75^,K9K*RTRU<Y,49
M&17,VT#7-Q'"@)9V`K>+O&Y#6MCHO#'AJ+5;22XNF94Z1X[GO7/7=NUK=2P/
MU1B#FO1],G\B8Z6MNZ1V\2X<J<,V!GGZUSOC6Q`ECOHQP_RO]?\`)K&-1^TL
MR^7W;G+1[1(OF`E,\@5UMIX=TVZM(YU\P!QG&ZN0KL[*[^S1Z4C'"2QLI_,_
MX559R2]TF%KZF%JND&TU-+:')67&S-;G_"+V*KAGD)`Y(-:-^L42?:Y1\UN"
M5SZ_Y%&EN9=-AD8\LN2:YI5IN":9JH*]CA;\0)=.ENK*B\<G-5JFO/\`C\F_
MWS_.H:[EL8,****8!1110`4444`%%%%`'4^`K99=6>9E!\H`CV_SBNYU2Z^R
M:?<3_P!Q"1]:XKP!*$O+E,\LHQ^M;_B>X*6&'MWFA)RVU\8X/M7'5UJ6-8_"
M4]+3^SKZU/(%U&0Y/][)/\A3;V4_\)G;`G@1'C\&JE)XDM]0>&%+.3>C93:_
M(X^E)=RLWB^W8KM;RCE<YYPW>GROKV"YH:JAOM26#G;'$Q/U(X_E4FE3%[%5
M8_-&2A_`X_I67<ZXEA?S>=;2"1^I+]AGVJQHETER9GBA=(W.XDMWY]JRFGR:
MEJUREXPB!BAF`YW8S^=<I77>+Y!]BB3N7S_.N1KJH.\$95-PHHHK8@****`"
MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**
M**`"BBB@`HHHH`****`"IK18FN$$\GEQYR6QG%0U)`J/*JRL54G!*C)H`[`Z
MWIC6OD?:<?(%W;&_PKCYUC29EA?S$!X;&,U<U2PCL#&BRL[N`W*XX(I^GZ6F
MH6TSQ2MYL2[BI7@_YQ64(Q@FUU+DW(S*Z/0-=BM+<6MT2$'W6`K)^RV_V$S^
M:^\':5VCK^=2V6GP75K++Y[AHEW,NWW^M5.,9QM(4;IZ&K>6VAW-PUPU\4W'
M<R@'D_E69K6HPW?DP6BLMO`N%![GUJ">T@BL(;@2N7D)`7:.W7O[U9ATJV?2
M_MSW+K&'V$;!P>/?WI*-K78-W,D=:[7PUK.DZ/8F.6Z+L^&("'@_E7,:K8)8
M2QB*;SHY4WJV,5-#ID&V$75P8GG&4`7(`]Z<XJ2U$FTR;Q+/97E\UW:7/FF0
MG*E2,?I6.N-P#'`)Y/H*NRZ88M;_`+-,@SYHB+CZXK57PW;,GF"^8IYWDYV?
MQ<>_O35HJP;L6ZGTN3P[#8)?$O"V\90\DYXZ>],\*>(/[)G,5RY^ROUXSM/K
M60UM%%J3VTTK!$<IO5<GKBKNKZ$VFW=M")O,6X`*MC'I_C2<8VL^H:[E[QEJ
M]GJLELUG(7"`YR",?G4'AV73+%Q=W5UB?:0J;"=IZ9Z56US28=(F$`N&EFP&
M(VX&/SI=-TJVO;*:<W,B&%=SJ$![XXY]Z$DHV6P^I/;ZO(-68R:@PMPQ(?;U
M&?IFMR]UO1[VVE@DNN)`>=C<'\JY?4-.@M[""[M[AI4F)&"N"I_.IM.T:/4;
M*::&=A+"N2A7@GGI^53*$79OH--[&=)'"MV8TFW0Y^_@]*V=2N+"33[9+>\S
M);#"C8PSSGTJC]@MAIANS/)N#E-FP=>/?WJ73M(BN[19Y;@Q[Y/+50N><$_T
MJVD]63J7-5UJ&^L+:!9=I;!G.#Q_GFM&SUK2[6TC@%T3L7&=C<_I6#JVD16$
M6^.Y\TB0HPVXP14$%E%]E6XNI3&LC;4"KD]N3[<UDZ4)1MT*YW<AU`0?:W-O
M+YJ,<YQBJU6]2L_L-P(Q()%*A@P]ZJ5LMB&%%%%,`HHHH`****`"BBB@#1T&
M^-AJD,N<*6"M],UZ.[)/$`VUXW&?6O)ZZ30_$9MU6WO"S1CA6`'%<]:FY:K<
MN$K:,Z)+'3K)S.L4<7^VV!BN>N[R!O%44PF0QA2"^X8'WJZ.1;?4+?:2)8CZ
M$C^55O[$T['_`!Z?^/-_C7-"HHOWS62>EB2:VL=1P[".?;_$N#4T,,-O'MC0
M1Q@<U'%!;:?$QC`B0\G+$_SK`UOQ`'5H+,GT9L#FIC%U'RK8IM+4H>(K[[7?
M%%.8X^E9%!))R:*]&,5%61S-W844450@HHHH`****`"BBB@`HHHH`****`"B
MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*='
M_K%^HIM20+OF09`YZD\4`:GB,8N8/^N*_P`A3=%N?LB23?PB2,-],G-+K[)+
M+"\<BN!&JG!S@X%5[>/_`(ETXWQ@N5(!;GC-9I7A9E7LR_K=M]G@E*\QRR;U
M(Z=!3/"Y#WLMN1GSHBO\C3;N_6Z\/0Q.P\V.0C'MQ5+2+G[)J<$Q.`IYI)-P
M:87UN3:PAMVM[5AAHHQN!]2!G^5:VCP0W'AKRYY/+C-V`3C.?NUB:Q<"ZU:Z
MF4Y1I&VGVSQ6E`\?_"+FU\Z-9VGW@;N@^7G]#3:;2#J9FJ.QNC'UCBRL9'3&
M:VK9;/6;&WMII1:7T*A8V?A9!VZX]JS]:6WC@LHH)UF9(SYA'J6)J:^A@NH[
M*2TN(_-6)1*I;;M(`[GK3Z"*5Q)=6FLF6\0BXCD#,#QR#6Q'.5\(&<#D7F_'
MO\M9.O7<=YJ3R1-O4#;NZ;O>KX>,>$FM?.C\[S]^W=VPO^%#Z`C&DE\^],VW
M;O?./QKN+TB_2UG(S]AD8/\`3C_"N%MTWS*,@8.22<5TAU&.*VU2!94)G<>6
M0>WS?XBE-/2PT[(J^,W\S5HW/>$']33_``TJO8:BKMM5D`+8SCYAVJ'Q3)%<
M7L<T,J.@C"_*>^3_`(T[1&CBTZ]626-6F0!`6Z\C_"E;W$@ZE76E%NT=K"P:
MW5$8,!U)7)_K5OP_=_8;22X)PJSQ[OIDYJ"\CB@T*)/.22=I02%.2``?_K4R
MV0'1;B/S(P\CHP!8=!FJ:NK,.IH:];"UT^95.4>YWJ1Z%5K/T:YS=V=N%P%E
MW9S['_&K>H7R7?ABV4NOFQR%2N>?K6=HN%U.&5G1%0Y)8XI1ORZ@WJ6=?N"+
M^\M\=9RV?Q-2Z?):7VFK8WK&!U8F*7L<@=?RJGKI635;B6-U=)'9@0<]ZL-#
M!=Z/;K',@N8R<JQQQQW/XT6]U!U*FK6T]K="*=@V%&QQT851K2U>972UA#J[
M0Q[68>N2?ZUFU:VU)>X4444P"BBB@`HHHH`****`"BBB@"6&YF@YBD*_2K8U
MO4`NWSSCZ5GT4G%/<+LGGNY[D_OI"U0444[6V`****`"BBB@`HHHH`****`"
MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**
M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH
MH`****`"BBB@`HHHH`****`"BBB@#IAX=M/^>D__`'T/\*4^'+3_`)Z3_P#?
M0_PK5IPZ8ID7,E?#ED>LD_\`WT/\*>/#-E_SUN/^^E_PK37K4BCWH%=F1_PC
M-E_SUN/^^E_PI?\`A&++_GK<?]]+_A6R"#WH)Q[T@NS)7PMIY7/G7&?]Y?\`
M"G?\(II^?]=<X_WE_P#B:UE/'-*&QPW3UH"[,Q?"&FNORW%R#Z%E_P`*:W@V
MU_AEN#_P)?\`"M8L>W2I(IY(^G2D4F8+>$[9/O-=#\1_A31X8L,',MSG_>7_
M``KIDNGZD_C4_P!IAE7;+$IST/2BXSDAX8L#_P`M;C_OI?\`"G?\(K88_P!;
M<_\`?2_X5U"6MM*3M<HWIUI)--F0$KAA3N+4Y?\`X1>PS_K;C_OI?\*0^%[+
MM+<?]]+_`(5LW"R1,-RD?A4,CD+G-%Q:F4WABR`_UT__`'T/\*KS>';=%W"2
M4CZC_"M?S&QG.<T[!=<$\4!J80T.W_B:;'L1_A4G_"/VQY#S8^H_PK7"=@:F
M&QAM88..#0PU,'^P;3IOGS_O#_"GKX>M#UDG_P"^A_A6BRXFQG]:F4'CBF,R
MQX<LC_RUG_[Z'^%(?#MF.DD__?0_PK96/-2>230!@_\`".6O_/2?_OH?X4\>
M&K0]9)_^^A_A6YY)STI_EX%`&"/#-F?^6D__`'T/\*7_`(1BS_YZW'_?0_PK
M>5#Z4XIB@#`7PO9D_P"MN/\`OI?\*</"ME_SUN/^^E_PK<5<&I%&Y@!UI`88
M\)6!_P"6US_WTO\`A2_\(C8?\];G_OI?_B:Z=(1'@N,^U.*(?FQ@4N9#LSEC
MX0L0?];<_P#?2_\`Q-(?"=AMSYUS_P!]+_A72MN9]JXIK0G:ROUSUIW"QS1\
M*6'_`#UN?^^E_P`*;_PBME_SUN/^^E_PK?9&["D/R_6GH(Y\^%[(?\M;C/\`
MO+_A3/\`A&K+_GK/GTW#_"N@0*<E^:2295==J#`%(#GF\.6@_CN/^^A_A4$N
MA6L?_+2;'U'^%=)+()EPWR^A%9LC#.!S@T+4&9/]BV^3AY<?4?X4AT:`?Q2_
MF/\`"M'=R<FGA<CJ#3"Y6L=`T^8-Y\UP#CY0C#_"BY\,PQ!)!YXB<XR6!/\`
M*M*`P10N7)+G[M2K??Z$8F13@A@3[5E*3W1HEW,__A$(E@$CO.I)``..<_A6
MDO@33N-UQ<GUPZC_`-EIQU1KJ6%Y<",D$`'@5K7;M*PDMMHV<[R>#[5QU*E5
M/<Z/9Q,@>!])+E?M-X=O7#K_`/$U&?`U@H8M/=*N[@EEZ?\`?-;:Z@T4D9E5
M<2*.0W>B]EM[R86JW(7(Y*D=:A5*O<GECV.;O?!]C`BO#/<.`1O)9>!^52KX
M1T>3`CN[@DC_`)Z)_P#$UK6]K;PSR127>X`=,CFBXNEC:&"S02%SVYVBB56I
MLF7&G%O8QO\`A#K`NZ^=<KM&=Q9<$?E44'A2PN$<I+<@(2"Y9<'Z?+72ZF7%
MON1PK+P449S[51NEN'CM8(HF2-@"6`/!Q1"I-I>\#A'L<O)HME&^SS)W.>,,
M/\*N1>%K<QI+,+Q8VZD`?X5L7^C/;0">-2Q7ECGK^%3Z7?//(1,RHL2@;3U[
M5O.J[7BR(I=49B>#]-%MYTLUX%)XY4<'I_#3V\%Z:(]WVBYYZ$NN/_0:TY]2
M'VL6[Q'R2>I&<_2F7=U:P@*&)0GE#QCFN>52K?<T4(,PM4\+V-I9O)!+</*H
M!P64CK["J.E:%;WELTLTDJD-M`4@?TKME=)8967:P*G./I7/:!>A8[Z!P/D#
M,,_7']:NG5G*#5]1\D$]CE+JV6&YDC4EE5B`?7!J_I&CQWT4TDK2HJ#@KT)_
M*J,S;[AV/`9CTKKXP(O#D7EG8KXR,<FNJK4<8JQC",6WV*T/A33Y+991+=L3
M_=Q_A65JFD6EGA8I)GE/\!QD?7BNAN/$4<4$-K:IL0*`SMV]:FTZ>QDD9HCO
MDZ;F[FL'4G#5FBA%W5CE['2;.6T,ES.ZR%L*JL!]>HJS/HVDI$YBNY7<#(&Y
M?\*N:_>I"6M5MXC*W+,#G&>:P8W:-@[KPO;M6L>>2YMB&HIVL3'0IVC$D<,V
MTC.2,_TI(M#D>Z$#N(SC.21^E=3H=Q<ZA#+OC'D;<<<<TNH:.@-M+&&60$;I
M%/M6?MVI.++]E%]#(7PM!'&SSRS%>Q7`_I4!T"T91Y4DSG_>'^%=,]RR,(X]
MS`<$L.3468XV)8'G/'2L57FWJS948=4<V^A0>4Y1I@Z?WL8_E5*"QMRZQS>;
MO?[I5P!_*NH;=+E`?E(P<5A166[4C#YA0(Q()XXKHIS;3YF9SIQB]$6(_#=L
MR_--(&_NAA_A39="L8I%C:6<%CC.1C^57DDDA9F)$BC(W`<T\&VN8B;AAQR"
M3BHYYK=E^RAV*!\/V6<":8^^Y?\`"BK\@B1%VC,0X4YZT5493:W(E&">Q.K<
M8IP-1`\U(IKN/.'`\U(N.]1^].![B@!^VEZGBE4@BG!1CKS4@-'!IPR>,4AX
M^M`?!S0`H`]:4C`]JB9CGBE5SR#THL`X.5R.U.$VY2K8'I49Y7*TWH,C\:15
MR5)60Y/YU9&HRJOWLY'I6?(Q(J)F`')HL%S6;4MZ!'56]ZA:WMYCE_D)'&#6
M86!`((J17+QA32"XMQ920']VPF7KQU%,#$)SP?0U-"\:M\Y([8S39"L@P>G8
M^E-`R`.#S4P/0G(_"JA!C?&<^E31N=V#S3:`MK`)1O&,U&`0^"*6&7'':K`5
M6;)%%QC57`J=1P*?#%&^!N`^M7$TW?\`<D4GVIB*1-(!DU=.F3`XVDCUIIL6
M'4-0!6V^G%*5-65LV/W6&?>GBQ?'7!^E(+%#!S4L*8;<R\5,]K*O\.:4(^S!
M2AC0\.A]>*2:1&BPHQ3<E>-N*B,GS$$U'+K<JXP/M;C-*[EBI!^M,.#)][BB
M0KQBJ9)*N'4J>*K/N4D&IC)@X%,F;<<D#@4D#*V1NR>E13#:N?6GR,><5"[X
M0@\FK$BK,7="5QQ5-G.>34TA8,0,\U%*F`,=*$,%9/QJW9V_VB38)%C4<EC5
M'<,8I5D((0$#/>E)75D5%:F]'HV+E!-*/*89##O2'3;-Q<*EQ@ITW$<U-!`T
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MQLXW`@X_F*K2ZGJ`RS;Q"3\I85GRN[##L3@8YJZEO')%!Y4OF.?O(>BUM[.*
M]XCF;T+.FRRR2B:XNMD:=1N&:Z`6EK.1.%+;E')[UE)I43,I2!F!QOVN/\*N
MQPR:?9O(JNS;L!2<X&>*Y:S37NEQOU)+FW^:-@B[8SQFGRP"[!WA5YR/EYIN
M])DC,\B(%P<9[XJ4NQ!RHV@9WCM7,U,TT()2+<B,J6:7^XO3BN,EE.GW=^B@
M-NR,GJ.17<64PG0G8<C(W$8S7,/I$LVIW,DJJD!E)+-P#SQ6V'DDWS"EV.4"
MLS9P>OI76QVZW5M%`6=5CC#.W0`59O[^QT^%K=E0NH!4*.#6+JFM?:HEB@C$
M;.`&P>OM74Y.I:R(24="G)%+J-[]GMLNBDA2?2M*\M(M(TI5:8_:G/*@CBKL
M4C:-I$<WD!&9>_4FL>QMGU:YDN;ICY:Y8_G1S<V^D4.UMMR.WMGFLYKM@'((
MR2W-;.F68N=.VO;JZL?G<'D?2JFJ7%F+58;>-LJ0N\=&%,TL//;R`W(@1!D@
M\42<I1NM`2LSH["V>",QJ1M3*C/I4CM''%YG!P?F_P#U5GPZ@/(C42!\<$]-
MW%*MZDKE00,'!/I7%*G-NYT1L2R7*S?+"I!SSN&,52NY2Q"A<'IQSFM241)"
M'W#;GYL=::(HIXVVKD`9'T^E.,E'H:7,ZS1]QR,]ZR=6$L6H_:&7Y,XK=C$D
M<R')CBSC+#K6=XHW-&NPE@&S@=!6].5Y^IG5UC=%RTEAEMEDY.[VJ&^MD=XQ
MOQ'GD$50\/\`VFY'D0$$HV\Y]/\`)KK$B;.)62/!R,C.>*4[TYV3$I)QN<;K
M#?9H8X%?+;MW!X`YQ1577;CSM5G8$8#;1^'%%=U.'NJYR3E[QT@`IP/`J):>
M.F*V.0DI0<?2F`\TI-`$R\\BGY_O5`IIZM[5($OWAG--HSVHS3`=P5R.M,R2
M"N!2$]:9NH`4[E&#TI"1MX/-(_*CFH^YH&2K@KR:BDV[J9DAO:ED(..>:!B*
M`=W;BHR20,'I0/K01SQ2$.4L6'7FGJ3R`>E-4$KZ5(%.T^](".X^:/.`"#UJ
M)&8'BII8\1GGWJ!`130RS&QXR*M*X[=:HJ2"*F]Q18"ZLF3UQ6EI[$DMNY%8
M\7N:T+"3YV`[BG8#H8GW*#3BH(Y%4[9_EQ5M6Z4#$$>TY'-.'M2TM(8A4'J*
M0*H["G4E`#&B1NH%1/9P-G*\^M6:1CQ0!SU[;FUE]5/2H-XX)K;U&$2VQ]1R
M*Y\C%,0]I!GI4+N"#VHR3VJ%Z+`-:0@5"SC/2GMGN.*B;!%,"-FQDCBH)/G&
M&&*E;TI">@(Z4`5-@4]S4]JH:=`_W1SFAQL/..:BYS\O!ZU,E=%Q=F=C97,,
MY9(9,,B@#/>K$2M'(2TBNQ[XX%<QI\B6,1NBRN_\*5=2^O+]B8$7RWP#@?=K
MS9T6FVGH=*D7-<O)+:)&#Q-EP#&PYQ^=06T%Y-'YRW&0K@[4&:H>)+1X;.`,
MXD<N![G@U<T&1IK,VKL%_B`[XHY;0O<9M0W,<H8JY9U'S)_.L^>\6Y4QK`'#
M.%`/7'?^55K]EM9/*LL";^)B>H-067V^VMV=XMR!MW!^85'L[*X1[#-<LQ9W
M$4D2"%2`0%/>M/25MIT29Y&>X=3NR:AGN7U%?*6VWHXX..4/O4-[;7EE!`OF
M*$'RA@,5LWS)1OJ1;E)=<M1LA$055)V\\5FW&CW-I`\H(<<<J<UH0Z83$SW>
MYP2'5U.1BK<]W"D:6]HPEW$*W/.*49RA'E6HK7=RI;ZM$E@BLI22-1@CN:I7
M6M2S6\D)!#N0,@]JGU:XA=!;P0A%1OQ)K'>!U3>$;YC@L:UITH[L3FR6Q8&<
MJZ-*IX"@]ZZ.QT^=%99B0CC@9Z5SUE92,1(6,2=0Y%;+WTY@%O:MYL@7YG-3
M65](CC)VU-+,5L0@G#*H^[GGZ5ROBNY=@B1,R*3GRS4L4J0SF.;>+G</G/W5
M%4/$]TJZFC1L)'B`Y['BHA2<9ZE<UT8UW;3VZQO/@&09`[U:T2V22X,TXS%&
MI8Y/6J,T[W=PSN>6.?I5U[F211:0`!<`':.3BNR5^6QDMS0@NSJNI;KIMMM%
M]U3R`.@K>C@>)'CMHM\<AW<#&16+HMJS)]DD<1*YW,3UK034/L%^;=9C*B_*
M#7'5B[^Z;PD:*VT6Y48)N`Z'^&H)HHTBDAN$,BDD+QCO4XSY,DPC<OUSMZBN
M>U/4([NY#*S!(QR"<'-84E.;:OH:-J*&2V[I<>59ER,_=;MQ5A=."1J&+AU^
M9B.!3--599?.$@5WZ#-7]2,R@VPE4[E!)QR*VG-\RB."3]XBB``<%R,CJ:E#
M+$RRCDK[^U5H5EB7,L9:->/<TRXC>5"]N-J<;AG)%'+J:W+XN)K^-XE(`/1O
M2LNX>.V;[+=J3&PX<^M6K.ZM85(#D$<$.><U7U*6WU)?*650Z_=YS2@FI6Z$
MRM:XZW$6F7<$T9\N*5<$D\'_`#BMFZO$:SW&3'<>]<S=RM_9Z6\C!VM\$$?R
M_6K-W?PC2$8C,K`=:<J?,TS/F2.=NG\RXD<G(+$]/>BH2<DFBO12:1PMW9V2
MFI%ZU$M.!Q3,AYZXI0:0'-*`:`'`T]2*CS2KUH`>3W%*#Q3*<#0`X<4TX/6G
M#K3><F@!AZ<5&1GO4I%-*=Z`(B.E(<'MS3Z-M`#-M`&":DQ28YZ4`"Y(%2(<
M'!Z4@^M+BDP&3_,2!TJ/;BIB-QI"O--#&(O-3A>E(BXJ04`"C!Z59LSME_"H
M,_+[U+`<.*$!L6SX?%7E;BLN!L2"M"-NE`T65.13JBC-2CI2&+24M%`A*#11
M0!$PW1D&N?NH=DK#/>NA/4BL?4XSYH9:8&=MX^]417+=S5HH0!N-1'F3"F@1
M!,F$],U5:/&,&KTQ5CMQG'6H)5C)&W`.*+C(8X#-*JKDLW`&*NMH4FPYD428
MR%[D56CDDM_WBD`CI1YTDC%V<D]<U$E-O0M6MJ5S:L;A8#@'U]#5O4+*VM;5
M8R<S\<BEA1KA<[UC!/4U"D0-RZR[Y5&0&'K4RO>XU:QGE<D`G"]/I5V&Z_LU
MB+28.I'S9'0U+;Z5-=[S&=JJ>])+H-RG)97)&>N*F<H2?*-)K49JEV+RS4W*
M#*D'S%'2K.EJ)K:-HHV?/RAU7&,<?R%13^=%HHC?8J>8%.3[UJ".#3X1<J[%
M2`=JGY:YZEDN5(VBQ\<-JURULMLX8')D/YU!=VUW$T]W%-M&1\@&<BHO+D.V
MY6\`\UMVT=0.PS2:I;W416.*:219N#D<5FK\UFQO:XL.I7,$K221!A*N553T
M^M.:*\U51(^%C'0`5)81SZ8OE&`S,RYX&<4W=>Q)Y[RB)"V-AZ@9J]+^[N3K
MU)5N)HHI(O*#K&NT$_+5!I+9[==ZB,[NW)Z&M2.YGG1UAV.N,;L=:PH;26]U
M80M\L<;;FR.":<4HIO9CT;L:MG:K;>7<2L"9!@*>H%7+JU26S*1KM3[W!ZFG
M7$\=FJR2*,CY1S@U4?5?/F6-2R(QZXYKGYIR]Y;#LALM_;BS\IXR^%`*@8P:
MR;6WM[AFDGN#"-V`OM73&*W$91D#;QS[UAO;0SR2001R)(/7I6M*I"S0<C81
M:*9G+I(##NP&/4USOBJTBM-3*1$D%1G/KBNEL))K:)T``>,\[SQ7(^()I9M3
MD:;&[VZ5M3E-U-7H1*-HF=&<$G'2M_P=M&I.SHK'80"WK6+;0/<SI"G+-TKL
M=)TB6UG6-OX1DGI6E:45%JY$$[W+=YH\UQ-YGFKUR<#H*RKF"VTR\BEMY/-<
M'Y@?6NEN;>XDMRD+JN>N>35"ST.`JS7`+R9/-<4*WN^^S9Q=]"HFNFZC,)41
MODX(;M67_9?G76"',;MDOBMM]*CMMSVS+YA&-K54OK&]^Q)B<N4(?:!TIQG"
M+]S2Y3U6I2TK3RFN.J`M'%GEA6G=P+)=\G$F?2J"ZM+)-'!/$L;M_P`M.@(]
M:NMJ*RK)%"IDD3JZ\#BG-2YE(T@T)>L$1HA@L,98<%:;9$6Y5_OJ::;0W!C*
MJ3O&YCTYJREAY>5Z-]>!4-Q2L:ID<Y6XN"S(8QD\GI5>VMHS.6B(0@_>QFGW
MT4L%N)XIS(ZGE,<8JE'J/G;C,P0@<`"M(QE:Z(YXWLR;5)(S$Z3R+\PP,#%<
MQ=3/)M1B,(,#%;]U#'=1<R*S@9`7K7.2@AV!Z@FNF@M+'+B-]"/GU%%%%=-T
M<UF=ADXIRG-,'-+R#0229.:<&-1@TH.:!$G/K3EJ,'M3Q0`_&#3L^U,#4HR!
M0,=N&?2E`RU1^YI^[`!H`&P.*:>F"*<6!.2*;GU-`#`.<4H%'0\=*.E`A0*3
M'-2`X6FT``QTQ36ZT_'%-Q2L,4<TI%(M/(R*8Q>,4H%,%/H$%21'YA3!3DX>
M@1I1]5-7XSP*SD/R"KJ'Y10,N(:F4U7C/%2J:!DM%)GBBD,**#24`-8?,*I7
MB!@#BKKU6NA\I^E,1D31D$_-G':H2<+\^1GI3IINHQS52XN3M`!Z4`#>5NYR
M:B9A%NQCKQ4;7!88JO(Q/4\T6`FDO%Y&P&HDO_*3;M!&>]0.<5"W-.P%D7K8
M;@8)SBKD&L,D!A,:D'O61G'I3D('05$HIK4I,Z6REFBM5;:ODRMUS5#4)$FN
MR8LJ%'KWIZ:@;&S2.W;(8?-O'`/M5":0B0.)-S$YR/6N:$$Y\QJVTK"WP9=/
M96!`X(SZYJ)C*ZVZ[_W9`!_G6SBXU+3V:Z0^2BC;COR!5*^TYA>0+;1OL\H$
M\>PJO:1;LP46M2[:6]C->*BI+A5`W+TS6X+7)5I6)V=`>?QJE%:/_9R0I*JR
M*`V`,'_/-5].CN'\Q!=!%1L'/.:Y914[M&B=C2E@N5E,T4B("N#D?_7JE]AN
MY"1)(K"3DMCI5SS)U67<0RIC!'&14,-T"KF+<RA<_.,`>V:B',M@MH98NH]*
M,X8[Y`-J$=*N?:6L=+4GF:3#;NO+<_UKG]0E-QJ"@1<9+$+5VP0B8F7+[AR!
MV%=-2E]I[DQEK82Z%PTJO=N)#]Y0.`!5>5_WNZ(%>>!G)K>>RB5U\N/Y",Y;
MD?A0FD0[VDWL2?NXXVT*M3C&P<C;*]I=OA9[Q^`<+D]ZMDO-/NCRD9&`V.IJ
M"2T<;%G/G1@]`,8]\U=BC959-BK$!P5.37!*U^9'3L9U["TK&)RS2@\L#QCU
MQ7%:RP.HR[3D*=O-=];V[%)MXRISAV'->=WZ[+V9<_=<CI[UVX:5Y-&5:7NV
M+WAN)6U-)'^[&"W`KL]/OA</*[QD+'GYL=>:YCPS,8(W&P;9#M9FZ8K76Y^S
MW#6MN`\#G^"C$1YI,45:*)-0UT[P+4_+W]:JMK4[0NC1A0Y^4BI5T?S+H^:1
M%'C(!ZTQ]+BN3+%$2A3C<>14+V*2"TS&-Z_VC=!,5=>N>];8\0P?8F5]R3;`
M,^IJOI_A\0(QGVR9/'%2:II\3VJ^7$`5(YQ1)TIR40M.*N<U-<RW$F7<L0<C
M/:KVD7B6\X2;/EM][WJ/[$3(VT'/TIGV1U8DJ<UVN"E&QBJCBSHKG4($G"QE
M45A@;3U':D-R$`!0KGI(&K"%HY`9>U7(IF:`Q.,D#`-<T\.E8WC75F+<PL\Y
M,,C/N!)P*LVEA&EL/,C4D\Y[TVQC"L6=\$]!5J5T++M5G*]@:51M>[$(6?O,
MB:SC$WF@;-JG)KD+L@W4F#D;CS74:Q=-!:G]WC>,$^E<D26:M<.G:[,Z[6R+
M%E9M=$@,!@9HK=T?3XY+)'"L78<XHHE7L[&D:":U)UZ9IW4=:C4]NU/!%=1P
MBCK4@'>H^G2G[P!B@!<=Z<#@<TS>!TI-U`B3=GFGA_>H,T[O0!-D4A^[3,T9
MH`=FDSS24X"@`QFESS3@*0KB@8#YJ>!BF@4^@!#P:,`U)$H:3!Z&I5B$$^9D
MW1$XS64IJ.AI&+94[XI_\-7)K=&4O`,*>,>M5O+81;F.*4:JD5*DT,4&G4Z*
M-G<`@D=:1P`[!?6M.97L9N+M<7M2`_-0!2@<U1-B_!\T0J]&/DJA;'Y:O1'*
M4P+,1XJ8=J@BZXJ8&D,F%+34IU(84E+0:`&MTJK<CY15L]*K7(_=TT(YVZ^6
M5A[U1F6M*_&)"?6LV4Y!H`@/%1L,TX]:<>`<#F@"HZG/6HVR!TJSGYL8J.0K
MG&<&@"JQ.>15W29HH[K=,$V$?Q#-0J"V`><TD?[FY#*!E3WJ9JZ+BTF=1&J7
M)+2Q,;-0-@/&#5.ZL)A.]Q+$!$"0BCT[5'=>(9)H!`D8`*@,1S5NS6.2".2V
MFW2A</&WITKB]Z&K-[W*EI/;RI]G0-'(W`;=Q[UJ1ZK!;7$=I*QPD>-_TP*8
MUEY*R^5``VPY8MGMGTKG]+M'U"[*2,05B)W'D=14<L9MMZ%;(ZB:(7I,D4I4
M,!R/2J=[;?8;B.9!N51@JQ^\:IYMH%$<=U(TBL`QQ@`5L6<37`\QY?-@!PJL
M.U2HN&KV$W?89;:A-,&^14V]?850U[4XE@4Q,,D<*IZ^]:E_';P6S%8@3U"C
MN:Y.>W9KK%P@65VW,O\`=7_.*TI*,G="EHA^G1/MWG)>4[B3716QBNX#&%$+
MH!TYS44=F##YUD2J[,?6JVGW$ENQ0*N]SAL]15RGSQ?+T%&-F:8M'=P)`JH!
MV'6K26ZQ@F)=I(QGM5&%KX3%73="#D'N:GGF\E/E5E+<9;@"N"=VS>UB46J_
M\M<MD<\U2N;G[*OE,I6,/P1V%66E>.%"&5CW+-4^\2C!`9L=QQ4J5M&&I`+H
M>49%7]WM)#,>M>9W\OGWDTG`WN3^M=_K430Z3.ZLVX#@=NM><M]XXKMP45K(
MRJNUCJ?#L(AL5GD&8W8\?GS706-W;-)Y<,8\SDGT`JIX30+HB,PS@GC\35]?
ML<4K2AU5FZKZUC5G>;1JK6M86_GBCMW:5ERO(YKCY];NA=%(-H61AQ70ZTL<
M-E--)"IC(&T]ZY73+5VWWIX1&P,^]7AX)1<F)ZNR-_\`M:Y150QC9P"V.AQS
M_6F17JW,Q$F%A7."3U-6%;[D(N%90F2.^2*RM5MGA,2P_*K<L^.]5#DOR[%-
M=29+^`W3AUV(,@$=Z9+=Q@DJO!_O5#;Z=/<OD%0A[GO2:G:?8Y$16W9'-=46
MD[7.:<.HY;D#GMZ9H6[(8%5&/3-4,C;Q@&MVQM;=;5'(\R1QG'I14FH*[%"'
M,]"H]S(K8"GGI4L4RP0M<R.N?3\:G:0L"J[20>-O45E72M?W[12?NEC7/UK'
MFY]#5PY-44]7U-[P;!C964.O6I9AAFYR`V,U#75"*2LCFDVW=G4V6HF+3HO*
M=$(^4[CUHKE]Y(QD@>E%9NA!LZ%B&D=4@PN.]29`7KS40;G)II8'O70<A*7Q
M3<FD`S10(<#3Q48IPH`>#3P:C%/Z"@!U*!2`TX'-`A1BG`\TT`TX"E<8Y<YI
MV,TF:,T`*!2XXH':IH,!_F7=[5,I6125V.M%5I"C=QP:M7$4I9(U.]<YY%11
M6XWD-D'/'%:2(1C`!QQ7!6J).Z.J$6HV*:LRSM&(U`'/`I9I5:/RF7D],5;6
M!!*TF/F-0,BVTQDVYW\9':L5--^95BJ)V@"*$RXXR>XH-LTA\V3Y%//':KF4
M#`R%0>Q-2AD8$I\U7[9QU2!QN8S(<$@':#UI@/S<5H3PAXV?:0<\YZ52`R37
M?2J<Z.:I#E>A9MC6A!TK.M^#6C!TK=&9.A^:IP:KKPU3`T@)D-/J)#S4M(8M
M!HH-`"5%,,H14O>F2#@TQ&!J:8.:R)*W]37]UGWKG)]RDGM0(C)R>G2D+@9[
M4C'NIYJNSL,ADSD]<T#)E;+#G%1S*.-AZG!IRL'3GA?K4BX"!>.O%`$(5U.5
MX'K3[2P:ZD`!Y.2<U*Q&WGFK=I)8I"HG#;SUP:B;LM"HJ[":PMTM5B,@%PO4
M`9W4R+39U=$:-@'Y!QTJU8VJ7<SM&S(O\(VYJS$'1WMA.$8'@,,D>]<W/9<I
MK;J6%BM[>V?S)F)VE2#QS63811^>H:4Q[HGQ[@-WILDCV]ZSDF;RSRWK6=J.
MJK?AVC`C>-=O)Z\BH5-J5^A?-H2R$?:`0N[#'FME-17R,>6(U7DOUP*KV5FI
MLDEG#X"`L<<`51%O)<3F9@ZV@;Y`?XJVGR35F9QNC;@:2[D2_EV^2N?+&<9]
MZ((([F66\F4$2OM0'T'_`.JJ-]J=K%8"*.(%G^3`XP?6K>G0+"L+1RHOEH,J
MW/..M<CBXZF]TR_*LD-L?)*1C^$8Z5`L85?-D8N<<`<9HEG2_26**3<RCD$<
M?A5:**Y@=([F1U0CC::B*:5KZC5B[:WZS`A$D)7@C'2IN)&&\#:>0",8JNT=
MP`HMU54/4XYJ1S'$R12/F0C.6%9275#T)-FV3``V=A[TV&</*\`#93J:5G6+
M=CYCC[HJ"V>))7$2NH<Y.X5DM5J,SO$6IQ6]I)"-Q8\8QQFN!QN?GJ379>+X
MTCL=Z$_O)03^1KD;4;KF,?[8KU,*E&G=&,U=I'<:<TNF:3"LP)B('S9QMSS6
MHMM#,BL3YG&1SD?6FB*21?LTJAXC&%!`QCI44!DTT_9G&Y`/D?T'I7%)WU6Y
MLF8_C!P(8+95)D)&/IBH8M%O7T1(%=4#'<P/4TLVHQS^(P\CJJP<+[FNBMW:
M8F43*>VT#I6LIRIQ2^8)7,;2]'.GIO)WR'ACZ5;F"W3^2XRF.2?6M-AN*B1^
M>^.,U2:T8W;1^9L&,KD9K!3<WS/<M6M8RY5%K#)"L2F)1]YNM8DEV[_(7+*O
M2NG>-)9FBGD^?[N`,#%<]=6`M[MD4%HP>,C%=N'DGN95MM"&RC-S<A%P".>M
M=%*72!5=@`O&1UK%MI4M+O<F,]\BMB,M<0^:5(3.<@YHQ%[^0Z"5BA';3B7S
M+=]IR2S$<FJ5_<>2XNW(D=\ICITXS^E:NH3;;4K$#YCG:IS6%J\/DQ6T1;.T
M<_6G3U>H5+I&5(V5^IS4?>GS?>('04ZVA,LH`KKV1Q;L5(<KN/(-%;L@LOLT
M8GB=".,@=:*R]HV:^R%/&><TJ=:C!^7FE5C708$YST!I"<4;CMY%)G-`#UIV
M:8":7-`$@-.SFHQ[4X4"'J:D7%1`D\"I0G2D(>&S3^,<4S.T8`I0>E(H>#P*
M48]*;D4]2*!$D<3.X502:OQ6((<GKVJ*P)\S:,=*T$<EPN"N!VKBKU))V1TT
MXJUQJQ`@-W7C`I^X("S=,]:?VIKKG[K<=ZX6[O4W'*P91@YXJ"YM_,5=N`<Y
MR:>F`23C)J1N4X.,U-^5@0-&)(A'(=W'%"[H`B```\9%,<>6X+*&XPN*>D8'
MWR=QY/M5.6@[#G7S?E<<`\D]ZIW4"1!F'.3P`.E:"KUYS4,UMYUP&<_(HZ5=
M"I9^1$E=%"W/S'`XK0@-!\M(G"*`#Z4D')KU*53VBN<LX<I9'WJF%0CK4HZ5
ML02+UJ<<BJRFK"=*0T.%+312T`)36'!IQH(R#0(R-1&86]JYR4']:Z2^^ZX-
M<[+PY`%,17<Q^F#5>1MZ;!P:FD;G!;!/:HP2I*NN/ZT#*C1LF`2<$U(8W4`_
M>6IEV[@Q/'I1)(BDJO(ZT`5-S#K\H/-.1Y"P<'MQGO3^"F['3L:W-+5;Y8OM
M,*B./@-652;BKFD8W*=G=WKLD4)*EN<>M.U-YR/WT(#IP9%/6M75+993&$N(
MT5>``*JO9BUMYE^TKN*@@?WNE8*=]4:6Z&1+=W"6ZQ*[%2>AXK#;*7FXCY@P
M.2:V9B[`/L&`!U[U2OMEU>0*J*IQR!6]]"$:#:J]_+']I#&WC_A5L9/:MS3[
MM[=$:>-Q;OG8#T6JMO:S6T%OOCC,$A^ZWI5G5+"UB@W1!D>7"JJG(KEG*-[6
M-$9-RQU/5I'AAQ&I(4YR"?7%=)IUA'#!OEBVOM^8D5DVUG/:1K)+;,RQ#@GC
M\:VK2\-Q`C[-H;^\:BM+1):HJ,2K;6$/VF22-V'<<XJ](\XD3`_=D?-3U:4C
MF,*I..*<'\H%G<D$X^E<SE>1=AT>`@*9Q]:IS?Z9F-54A&`W$T^3%WD13;57
MKQ4D,2V\1P^<]^F368"_+D`'&T8/M2G#+@=*JS*K0LHD`ESD9[9J"&Y-GMC,
M)E.#EUXR:7(V48WC*2%;2.)'._?G:?H:YC3$WZC`#W>M3Q;<"XO4(0H0HR#4
M'A6/S-<@P>F3^AKU*:Y*#]#%N\ST:,@HN&R,<8[U5O)(%M7,Q"Q@X)J1WDCB
M<EE#9.">GL*Q-4BAFM$AN9!%,[`[0>":\V$.9FR5BW]@T]A')'%%N."&/4U9
M^SHDJM$B`J<YSUJLC-'"B&(-&B`)[8[U';W"R;@^<#BF[[7N6D:3)&V7V;6`
M^]CI4"QNA\UF#,!@$>E2VZB-?*`SG))Q2-,H<J/E8>M9\S6B$BC>".[LV#1G
MS%R5P>2<US'VW4'$ED@+"0[2".]=9+Y<[H[$B1<XQ6?K%U]FLU-Q`75_ND/C
M!_*NJA4M[MB9P.6E$]C+LEC(<=FXIUK=WCR+%!(P+'[H/2G1K<ZDQB+G:@+`
M-Z5<T_2[E)?M$,Z*$'+`?I7?*<>6TC&$7?0M3Q$1QB\4!P_WLYSP:Q]6E#7.
MW'$8K:OHY[A!YV/E&[*GJ:Y>X;=O8GEFK.BKZEUI-*Q7)R2:T]"17N7##/RU
MEG^5;.A*5\V4,J\8Y'6MZFD684M9&I)'NQ$Y+!>GRYQ15J%O,C#.I(/H:*XT
MSK:,(.<U(K5%@@^U2)C%>C<\XF+EP`3TIR\5$#AL5,.@-`#ADTZF#EA@\4I/
M.!0!(#BE!SU-1@G'6E!_&D!.IPI`IZ'I4&[!%.1N]`BR&%(S#-0YQ1NH&3`C
M-/4BH%<YIX/-(1IV"B1RI4D8K2\I%1=A(Q6':3B)SNS@C'%:<4O[D-&2PZXK
M@KQE>YU4VFK#96E21B&`4=`*L)/($42+M4C)8FDC*3)DJ`PYQ2R20L@2;&#Z
MFN5M;6-AD#222,[?*H'R^X]:='<KYQB?CTSWJ*X8H%\EU*MA57'0?Y%036TD
MA1S("5ZAN,52BF]1-LM-=#S"D8R5.*FB)QEL@].:IVK1F-D)')))7ZU+Y@CE
M"*Q(QWJ)16R&62>>`,4JL",CK4'GX.$7/KGBJDVI,KNA7C&!@]*4*4YO03DD
MM1UW,6F"XP`<58MSTK(20NP+$FM.V;I7LTX<D;''.5W<T*E7I4*\BI1TK0D<
M.M6$Z55%6(SQ0P)*44E**0`:::<:::`,R^X9AZUSEZQC?KS72Z@OS9]:YG4P
M0YS3$4Y7$C`CJ*K33/OV@?C2.5W9P01[U$GSRY!ZT#$!._:P.>N:DDSYBMTR
M*=Y860DY-(0ISD]>U`#G.0`1U]*?`2DJ@28B/7U%57//0X'>GJN%YSSTQ4N-
MU8I.QN(]C*JB,&9QDLIX)_&LIW,\C[254'C/;VJ-!L;>#G%(\H?*HNTMZ#-9
MQ@H%N7-L.EO);C:DCC:HPK'MBH]+WOK(Q.B%1]YN_P!*DM]*GN(_,9]L`8C>
M1TI=$F@T[4;J650S1(0H7H3D"IG).+42HP>[+S+=6MV\HE=K<-US@D^U;19K
M<Q7,VV2+9A1WYYS65#J%U/9RR21A4N7VQY&<\]/\^E;>G6QL81'(_`49+#O7
M'4=EJ;I$4M]YD:Q/"T@<\+MXQ]:>DR6V^*%$C8]`/2HKPQSW+&&%I"!]Y&P/
MQK-FL[V*5MS?>&Y45N1^-*,4]`9KQWX89!C$RY5@SXZ=^E1+JA,>1$S,#R"<
M#\ZPKR!=T?EQE)<J26Y)]:UVMG&PW1$L)&,#Y>OYT2A%:L$R\7F:`L72'=SA
M>?\`"HK21TDD=UEE7'W^H_"D^S_98A&C`9&Y=W/X5%&\CWOFQYV!?G(.1]!6
M25[C>Q'JK^<T1/RQ,P&1QFL;6=6$&^P,1"KCY@W/3Z5H:O<I>69CBSO>3*IC
MI@XK&UNS^SV,330%9B<%CU-;T8QNKBFW8Q;FXDG*F1BVT8&3SBM/PPDQU'S(
MI%CV+DEN?;^M8Q^]FM/0HHWN&>5V1$4DD#KQTKMJ)<C1A!MR._"KY+S2/O4#
M)/8XKF;2&#6K^YGN`WEJ<`@]/2DN)99-("Q;D4#(!/WO4U:T.[&GV%O$(O,E
MF);"GG'/45Y\*;A%M;LZ;W-BVC2SL6,1D>-.!NY)K/#07(\Q@5._(7=@\5KB
MZ66/S%+$_P`*`U"[IEFD&V1@!STK#F=W<:W&QW!<J45N0<@U1,CSWC&2#<HZ
M<TYUD2223=Y<8&=QZ&IH8UF02+GA><=Z%9:FJ:(T$D$7F0VS'<3@9X'Z5`8;
M29C>SR!7/#(W.UO:DNKR0CR(6903MI+][>.S\II5*G'RD]ZM77JQ23)XD2==
MRLQ&/E?')_&L:[O(=.D*6>^2XD/S,6XSWJ=-ES93J)&WPC[I;@#/85F0F)I<
M(2\2#=G;R#W'YFNF$'=\VIE.5MC:BN/M-C*92%E1<DUQD[$MCL.16Y=W6Z`J
MH*^OTK`D;<V>V:WHPY;LYJD^9:C0"36_;:7<M8QE&^]\Q4UBVHS<(.OS5V,4
MYP%&>F,4ZTVK)&E""=V0:78AHS]JF=2.`%-%)8J$NYVFCDE.<``XQ17++FN;
MJQDLVU<D4L4@VC'>HHU\Q<#KBG*`I`SBO1//L6-^X>I]*>O`J)<*/O<FI%?`
MYYIW%8D4]Q3E[TU2"*=0("<#%*O`S33S2CCDT`2#MZTY<Y/I40.>>E.)PG%`
M$A<$<4FX]ZB5]O&*-^30!.C[3G%/$F>U5PU/'(ZTF!.'R>OM6I!'%;[&><'<
M/NUBAN@[TXRLS#)SCI652',:0DD;LM^D9VJORGC(/2H2[R",AP26Z8]C6:\C
MNH7;EA3[9\*KLF'5C@`=>#7-*FH;&T97+D9=+EVD8?+V%3W#,(4"R<N>IZ"J
M<D16+S6<!Y.2/2D^V#RV>09$:[5`]?6LW'FU1I>VA;M[C<WEC#/TZ8Q3WW-<
M>4ARQYSZ53MQ)&IEFV_/S6A"R2(,8P!D>HJ)KE=T-;%:;=E3YG[S.TD]*BDB
M0QDJ2TP//O6M$HD7>!DC]33?M"!MDORM50K-;$RA<Q5)W5I6AR!56_G$DX`Q
MQW%2V39->E3E=79QR6MD:T9XJ=>E58SQ5B-JLD?4L9XJ+UJ2,T#)A3J:*44@
M%---.--/2@"E?KE0:Y;5B0YS76W@S%FN3U89E-,3,-\LQQUI8U`>I2@!-1Y`
M-`R5W4#U/TJO(X;@*`?6G--M?YN14;21[B5.*`(U<9PP_6I`WEJ1D8/J:AD8
M;L@TGG`\$"@>Y-&X5L\;:L07TEG/YT!`.,8]15'S1UX-;.GN+6R>ZDLBS]G;
MIBLJDDEJ:0C=ES3Y+F^9A_RPQO=&.,]ZYF>Z:&XNHH0/+>0\'GO77W"QZCHO
MVQ5V2>7]X'IVKA4)3<Q/>N>@^9O0UEHC3^TO-*FY1$``%56[\<UOAX80J72.
M5(S^[;*YQ6+HUA%J*M'(RQA6RTA;DCTQ6H8K.W$Z*^R%"`H)Y<^M*IRWL.-R
MY90R_+.)P$+?+'WQ5O4;$W1#,\D8QA<'/;TK*M=1=@[B,X4`"/.#]:N)>+&T
M<K%H0>K,N3G\ZRG%H:8^`KI=F!/%(^>"[+W/H*OQ-M4/(S-&5!3(Z<>E)(\3
MI'++('3:#\Q]NM,NI81'`(]RB0[<1GG&#6#;92*5V(+CRWG;?$6.#]T]^/I5
MBWGM[>!8X$'W2P8<&J,FFA+EG$#R@'[K],4V\A233S+:0A)E/S+GH!6C2=K,
MI%2:XB65.&:=I/O,>`.M0ZVZSV#R,29/,X]!C(-07,L+?8FV;2X);OD\UM3R
M07V@2PJH0HN<>XK6W*TR9.^AP?Y9K8TFZ#6S:?L&)G!+GJ`*QR,-@=?2NH\,
MV<"PB[FB#$9^8OTQ[8KJK-*-S"G>XSQ%>O!Y=G$W[M5&1ZC'%,T2.:\U-7DD
M,6U,+CTQV_"J5R'U+6FVC.]SMX[`UWD,4<$,,,@`P`,[<<XKFJ2C3@H]6:Q3
M;N5(ML1>#S,2Q]'_`+P]*D^R_;)$%U&V%8,`#G''>K-S]G6=4<#>1P6YS]*5
MO*$9X4OSG`KBYNIKN)>`>0T;H=A^4`<Y%4H92(GMHW\M5'`9>U789HY%'E@'
M`[<8-5;SSE!9PH!XZYJ4];#B4&'*-&!AFP:9?6T,EY$J1KNA.YL_Q?YS4\DB
M,$2,?..F/6F3Q2I"'0@R`Y9C6Z;NC1V>A;EM+62W,S1[9-O5:QK71U032SO@
M#)7!J\]T79?-VE3RQ`J/6K@O8$0Y1!S_`+U.'M%[MR)05KG-ZG*A7"<UE58N
MCR,`C-5P,FO3@K(\]ZLT]$MC-=!\@!/6M\2$3%0@!'<'K63I.Z.#_>K1>?#A
M#^>*YJGO2.ZC%*);CDD4L5(R>2:*DLBV257(Q17(YV=C8Y-E=%`"_6I4V!E5
M5;'?TJK#YF?,9CGL*MB5G^\.*]4\R]B=<;@6[5-\A7(-5%/S4,YQ]3@4R;-E
MD'CVIVY>*C165-S'B@L,Y!XH0FK$@;+4N[-0JX#<U(/7I3$/QD9S0<@<&D)&
M.N:1<=<T"%R>]`;!Y%-W9Z4F:!DX/?'%.-0"3'%3PPRSXV+NS2;LK@-SWIZ'
MIM/-6_L"Q&/>Y))P5VU;?2U9HR@9`3T`K&5:"-(P;&:9"3,7EW*"O#"KJ6QA
MDW))\I.1GUJQ%'&(@@4X48YI!:1N^]G8@=LUY\ZO,V=48\J(+NU,B/,"&R/N
MCUJI8V<2*S3ERY_A%;"%-H1!P.QJ"YNX(E#E`9,XQW_.HC4E;E';4J2P"51&
M(WVYZ$XI6@-LOF+`IR,8)J\DJ3`$<.!U(SBJK/,7(D"N@.-W0_E5*;>C'8L0
M7:"!=Z^6>F,4VY,>2$@^9APV*D7:-O1E`Z'M2R/N5HP&(8=1]:A-*5T*Q@%2
M'*=<'MZUH643J26!&/:I7TY88M]N6\Y?>F"XP%RQ,AX;)S7J0K<R7*<LH6;;
M-)!4T=11\H#[5)%S728DM/C-,Z4Y.#BD,L+3J8M/Z4#%[4AZ4M(:0B"X&8C7
M):F/WK5V$BY1A7*:FI$S&F)F,RGGBJLO7&*NR/BJTCDC.V@95<#T--V@]JF9
MSD@BF>8<\4#(6`["HV0GM5@R,><=*:S-U%($0\\8'(]:TI]8DN-/2SE7"J1D
M@]AVJB"Q&3GBHF8D]\5$HJ6Y<9.)JS:C`MG)';0[$5-O(^]TYI=(T=)85O;@
M#R`!QG))S6;+9S_8UG*$1EMNZMSPLQCN)HN2I&-Q.,>V*PG:,&XFT&V]34@:
MPLIIEY$<N,;5PM1W8>:Z^T12E5C3:"XZ5--(EJ'C-NJ.6R`.=W?--T^XDN;:
M:6,9?/,1&<\^M<VWO&ER*WT]KDQ3SW+%QU=?FR,4P/##-/<1R"Y"$83T[?A2
M(9H;IH9BT*,#N`Z'O3;JXMEA$.GQC+\/A>01WS5M-RU8DRUJ,:ZG;P=F+@;4
M?../2I?-MK*U*\A4;@=<$?Y-9EK)$$+L`7C;#Y/S&K*20QS,($E<39.P'`'%
M9N+V*T-0W\-[8&6,?("`0:J7,T45O(P8)&1MPH]35&RCCD"RPJ8W!*;2<G/^
M14\%A?()?-C8*S;@<Y[TN2,=1)ZF,+,2:@J0PF143.UN,]#5/59G0NJJ8-WW
MD!XK>$+)JTB[&\QU##*]L"H/$MC;VVDK,!F:27DD8]:Z(S3DDQ25T<?U/0DU
MJ?;GMK;R0N`4`X/XUEG^M/7YW&>>V:ZY)/<YHR-[2Y,S0W4RLZK\JA3TKIH+
MR>654:,^422<')%8]K8V\-M;R+<@.2"RCI6EK.H):Q1"%C*%Y^7L:\^I:<M#
MK6FYH32QQE5,OS`?=8\&JEIJ"I,T+(WSG.0.!5*VU&_WQL;9G#CY"W4#KUK5
M66..,S,S%\<JYS6,H<JLQIC+BX:&1!!&'61L%5X/3.:2[NF\LQM"58C/7I5*
M*[=[XM:;=C$ARPY4^U.F6996<RXW'`XJ7"TM2XZD-M*8`SA"^[J1UJR!*\^Y
M(D$)&%/I5?RYHD9WY4'J:?:W.9Q!&&7<,L2>/RJVKZHMZ#X[8I.ZRQ`[CU(X
MK.OXC)#-$[`!3VJ_J:2).OEY*XX^:L^Z+P6TA?EBN<GMGM5PO=,4GHSE)V)E
M..<4MM$9YDC7JYJ-R-Q/O5S3(O,F9P^WRUS7I/1'G1UD;R1B)H[>;&8L9QW&
M*G=L.`I_"J4<$ES$)9"2[#Y67L/>K5M$$B&YQ(5ZGI7%*QZ"NM#120+""QP<
M]O2BH`\;89#QC&**Y^6X[G)XV$AATZ9J2-N1[]*A!+J2&^8'I21,R2[0F7/K
M7J7//:N7H^&/RGVJ%Y,2KC!YJ1W=4*@_,.M0L8RI<`9.*+C4;,G\X&7YEQTX
M'?B@/G(`Z5"DI1U)YVKQD<5,C+L+*X#$\J1Q1>PG&X*_[P`#FK(-45D_?G'!
MST%7F==BD*1QSDTTR&@)`-,=L=#0&#4QES3)L"L2:EWX[5&I`XIK'F@"1"6?
M"`DGTJ:$O'+D9!'4&JJ.T;AT."#FMNWFCN0)<'[0!SQQBHG*Q44.BO'E5E"D
M/C(*FK-K>,V4ED(('.:HE`LGF<J#VQ5L^1./F3!V_,0*YI*-BXR=R_;W*F-H
MXY=S9_B/2H9H[LL2TP$8[*:IZ?/'$9!&C'!XSWJ^+]Y(BLL85AG)]:YI1<7H
MCIB[Q&V=ZJN4>1R`O-6]JW15\$`#(/:L1[E8I-^P#=^M1IJ<L-T$9B(G[9IN
MDWJ@YT=!M"J2#SZ@565GE<D.,`8R>E01"-)@V7*MT/7!J_*I:V_=*"P-9:QT
M99!;[PI'R[LGD]Q4Z+.(RI8*N<@@YJ&W5_)>1U7<#VJP'RH&2I(ZT,"&:Y2*
MW;,C"0G&:S(G+2[B3R:TY+&#`5<"5SG<>:CDMG6=0%+L>20.E=E&I"&B.><6
MS2M3NA6I8^'Q4=ON*Y/&.QJ0#$E=T9*2N<S5B9NU(#\U*WW<TT=:8%I*?449
MJ2D,6@THH-`##T-<[JL?+FNC-8VJIP]-$LY1P"2#43%,%<5-*0"><<U6D`;D
M<TF4,=58`#K4;8'3&12@9;'2FR94\#-(!A8,2I&#2`;3RV:7'&3UI2P<=,8H
M;&D-)/5>GI3,Y/S"M'2+=GG,F]4'W>1G-:8T5893+N2X)/"#O6$ZJB[&L:=[
M-F!JDH73[6W4,,98^Y_R:U_#8EBTJ5XWVY;/3D_C6;XC++<QPM`80@P!FM;P
MQ;FYLCO;"KG:.F>?6LYZT[FB5I6!HIY+GSY@^[`*LIZ?6MVU9FLE_>X+'!('
M>J]KISB5I"QCVC`!;?G^55[@W$<^]Y2$B_V<$GZ9KF;YM$7H-U&VGCO8F93<
M0DG`[DX-8=Q*8KMHY(RJ`_ZLM6Y]KAF58RP5V.=Q7!!J.^T258GD=Q*3\Q?;
MSGZUK!\OQ$R1EHREPK(%##&1U6MJ*[^T(+;*EH0-KN.HZ5S\8C$[B8%$Q@<]
MZT[:T9HXY_.R<[0I'&*JI9B@GU+\4@LW;S!R3NVI]UJN6VJ&6;RS$0AZ''2L
MN2SDM+B,SN\RM\I53@#O4VI21V5@T=LC!Y!ECNZ5CRI[ERT)OM#MJ%T[`R(B
MB-77H,XK+\93J-/M;<8;&#N'L*=HD[0VMN`R/YC%F`."!S5/QC+$6@CC!&`2
M01ZU4(_O4B9;',`9;CO5ZTA'VR,1J7(()%4HSB1>,\YQ73Z9:7CL[P$(9!N)
M`Q@=:[:LE%;F,$;*K9O;EPF9,XQC&".*I6BW,3W*R#,#')51S4*->V[HDX(&
M=X*]?\\U,-=2#S&9'WJ201R7^M</+)?#J=-[ER/R4\K8Z@A<JC'=^%1F^\U_
M*,RI*QPC#G`K+74H9H-QME,LC%MW4]ZBBBFAGCVK&TK#(W=![4U3[AS=C;MX
MYEN\W&V5HL@[>I)[TMQ;RJV_"X=ON9Y^M5K.\F:]</$FXK@@#TJR;TMM"A$*
MY'%9RB[E08\@27!$D@6-5'!]:ISZ:8+Z.7>PBEX##M5^RG^T/OEC0;#M!]:G
MO(8[J-'1,K&V<#CM24N5V*<KD4Z(ML(R%<]GQS6/K9$.E$-]XG%69)!)<B&-
M77Z\@&L;Q.#$T<3R^8Y&3BKI0]Y(B;M%G/'J2*WM%LTDM2[GACCIFL&NNT>$
M1Z?'@DL1GCZUVUW:)A05Y%ZW(4-`Z,HQM!4=:IWZ6UB0\LGS`\*.N,4NH:]]
MFB,,;EIQP,=A7-LMS?WF'+,[G/S5RTJ3>LM$;RJ6T1/?ZF;A\0@J@/!ZDT5N
M:5H20Q$W"+*S?I15.O3B[(CED]6SDD91G+X(Z>E/6?CA=[GO4`![CI5A49MC
M*0%Z?C78SGN.`V@%FSGJNZG@Q[-J$9QWI;A"7^<%7`P`/YT(_P"[4+&-_3<1
MUI%:7(<Y4MG'.!FGB1MI&T8!Y-1LI7*MU!XI=Y=?+`!`.>!UIA<LVOFQ2I/]
MT=B:M37F]V+@-G@>E4!M6V<[E#J>!FFHQE5=S9`Z>U*Q-RXAXZ\TXL<5"C@=
M^*D1D.01UIHS8]3STH88I@.#QT%#MGO5`!.15FRO)+;(C.0:J9]Z<N0,=J+7
M`NS7DDS;F]/6G17,RH<@L".]4P0#UK1L[]$1HW7Y2*SDK+8:W([<2/EOF('(
MP<"D^T_,T+AE!((/6K4=[$R^68OW?8"F0LCWY)/R!?NXZ"L9.^Z-5;HRY#:M
M+'E6W<94'I5&Y1HI-TT(9P.QS6@VH+$5C57*`\;N<"J.J7&]\(=N\]`,5G#F
M<M2I))#8;^2/G'0\#TK1MM8$<;%E.\^@K"W$\4[)*]:Z9482W1DJLD:%SJ,L
MS'R_W8/4#C-7-.U`-LB)<R$X^;D5AACFI8I&C<.I(8=,4I48N-D@522>IU"O
M#]I+8.]>,*>*O$-)%ECL_I6-9:J)%`D)#^I/6K\=[$ZNLA'RC)![UYTZ<HR6
MATJ2:N26TF+ADR3[U</#BLBUFC:Y+1#:I[9K48_=(KUX*T4<4G=LL'_5U'GI
M3@<H:B4\XJA%R(U+4$1XJ;M2&.%+313J`&FLK5!E6^E:IK.U,?(330/8XV:,
M%R#ZU`8]IZ\5/>`B5B/6JLFXX9:EC6PCJ5Y[4A<,O0\4YMVS=2?=`SWJ6,A=
M3U`J-U.01^56'0,.":8H:-@V,E>F30-%B-+FP02YV>:O;DXJ_I>GSW2+/#<8
ME3D@BLIII)F+OD]A@]/:M2*>\C2&6.W$4:J59L_>KGJ)V-D8>O7$L^I.9\;Q
MQQ74>'[?=ID#RE3&G.W')KC[B027%PX7&YCU^M=A:R3#3+=(I(X5,?WFZCBE
M6^%)#CNS0N-3B25%B0,P^7:>"E5Y(FG3=)"K!R2'4Y-9*7?D?,!N<`AY%[\T
MD[,8D87#-$0&("X"G\ZQ]G9CYC4BLK-V990YGP<*S<FI;)FC1XBG[E1G!.6%
M8<5P/-6Y5"#'QN'/-2IJ,@N3,PW2/G(//%4Z;:'<VYK"WFMP-RC=A@Q'/YTD
M@,=LUJ"S[<%6[8SFJ>F7+'SV,;EN2K*H^7VJ&>Z8XDDEE9E.-H')'US6?)+9
MLNY:U".>:QD0*6=<%2.C=_Y5F:A++'I"R",IOQG\:U([J)45P[!2Q#`OR00<
M5S.H71N`(,;0LI52?3)K2E%W(E+0T-'U(6+QP&!&9%#&0=3GM^M9_BVY-UJ@
M;:54*,`_05-I]KY\LQ#9,8"GWY%9NN<:BZ;-A7`P3GM6\(Q]I=&;?NE:P@DN
M+M$C7<Q/2O0K>VN[(0JLBLA4`K)QCCH*Y7P9M&JEWZ(A.?2NKOKJTCD2Y<,S
MIR&'0YKGQ4VY\I=-:$\T=L?W\I0@`Y!'4U2M[.&59)3&3%-G"XY49_\`K56G
M:UN+I8_WK>?\V&.`O&:N0V]U:`;)<@'[IYP/K7,[Q6YJD5KO2+:WB:X@WY(^
M7GI]:HP1&='6:1O-7+(N.:Z!IC*[+N\O!P0>]5WAVR+A0Y_@?/(]J<:LDO>#
ME,"2W>Z11*JI-V;^+\:O64,EM;);LN6!)W`9QFM":)6E'FJ<XQFH`BPRJRR;
M!G''6J=3F5BU&Q-'$J`1P.RM]YR4SG]:DNHRJI_K$+@99%Z_K5;SY))Q\V&'
M&X<FK8GD<N%<Y_O'@&LO>O<+,J6EHCRLH8AU/5EZUR'B"X:?5)@<81MG'3CB
MN_!8$.3M;;C`YYQ7FVJ,SZC<%_O&1L_G77A/>FVS&O+0KQ*6D51W.*U;W49(
MD%M`<;%`+"LVU@:>=8EZDUT$6GV\?[MHPVT_?QU-==645;F,Z46UH9VFZ;)=
MS!W^[G.3W-=&88S*&/R.@P*01^5&&"8QT`-6XT^T(S!SNP"!7)5J.3-U!11&
MMPD1(+YQ^E%220"WD9B4(?!QMSSBBL.5,HX)5D93(4++TR:GC:/#9=@57(3M
MFJV7^X&.T\XS2HZQ$DCYEZ5ZMCBO8F21F;S2V#SFGJCSD9)"CD\U&ER?G+QJ
MS.."!TID<C+)\XSGJ!Q0"=R01_,4&!GH2:<(6CC#_=#COWJ/.^7*<^V>E+)-
M.Y5"S8'``H*T(Y-@7"\L>]/!VJJ=?6GI`-GF$9;WIZ@[-V!UZ"F0]147HQ`X
MIY?![`5&Y.S.0".U0KN8@4R7H60Q/W:=C.#FD1<?>IX)4\`&@FX8ST%/$??-
M-5B,FEWENU`#PJCK2J03A131&<;B:51M]Z0%VUB8$ETR.QJZ[DH2T;A",`9K
M/AG)7RN1GC.:L0B2*0!G..0`6KFG<UC8LVYA6(OM)(..3G%0WB>>-^PA5'+`
M=Z:HV[Q*[+NSU]<TZ.6<Q^5%N(Z9SUJ4K.Z+;NBCM`10NXN>HQ2A!C#@@GI5
MQA/;Q>8P4-V)ZBJLDK2?,[$GWKIBVS&2L1[<4H..]#-Q43,<59&Y9#\=<U*)
M&=@2<G`YJ@DGK4\3^AHL,W-.;]X*W"?W8-<U8/AQS71KS#5D[%J,Y3\*:/O&
MD@.5'THZ/0,L1'BK`Z56B-6%Z4ACA3NU,%/[4@&FL_4A^[K1/2L[5/\`4_C3
M0/8Y"^(69N>]9K2D$G'6K^J?ZPXZYK*+X;DTFAHM*Y*"D=@<9Z]JA=BP&T\4
M`LO/6IL,EVODD&AB`GH33!,Z\D9![4Q9R&V^5FE899ANY(21&0!UZ=:F?7KU
MPB"3!7T]*JRRJ(^5P:J-.RQNRG'%0XIC4I7(Y)%<NY&96GW9]1SVK8GU`SVZ
M02Q``<#;Q6%8QR3SJ%!)')S6GN8X;!';'I1)*^H.4DR_IVE+)YLDWS1(N1M/
M6I;&[=;R*".0"$`[@S8_"LEI9%1D@D<#/S#/6FB";RS.=VP'\JSY;WN:W70U
MKC4(8)Y`D;(I^4[#P?>IK6]1_*>2.-F?@$C!STSFJMJ'-B)G$<JOPH8?-2)(
MT9V[,E#G;GH*5EL%[%J_\Z*95WI^\'WNHJ9;6ZM4CF5P?5=Q)(^E+;R_:X7:
M)3&P^;!/%5Y[QXY2$`P[#(W9.>]9ZO1%:$L<2&^,DZ9=VR@]>,=*S+^WD76'
M4Q$[/G*D8`'^35O4#(DD<LKC((,:=^>WZU$VK,^K.LF4^01XQGGC_"G&ZU07
M3-+2M-A2![N.7!D&67'"FN+U&1IK^9V<L2[<^O-=IJ<\HL6FCF2%54@A.=W:
MN"<DL3GKS5X>[;DR*CZ(W?"DL4=X3*A?<N,=J[8S0F'/D,T0;:%`XX]OPKDO
M#-C++9S317'DOT!`Y_.MNV^W6,R&YN!)`WR\$YSZUAB$G.Z9K!/E)+NX4S%?
ML3KQD'`Z5)!=F50"N0O8FK$L*2,7<LT@SM);`JE<65P5/E[0[$$E>E<K<7N:
MQ+#!)'5V"[E;D]Z=AL;%DQ\WRY%,6.X2/;)Y6X@*".M-=FA8B7:=HY(Z^U2T
M.UR<NC%/-R">/QIEQ;([JH3+#^+L:9"=LVZ3YMPRH-%PES<0.4;:P.<;CZTD
MK/<-45E0DD,I')[]*7[("J[9"2>YJ1(MXB&[#$\_6AX9%N#A05JVV5<IWEZU
MG!+&%/F`'FN&F<R3,['EB3FNS\1O';Z<Q#?O&('%<5U;K7HX5+EYDCDKN[L:
MVB1@%ICR1P*Z%LMM1&PIP3@=\54TBWB72XBL8$K9);N:L0D`,9$?(SCZ5G5E
MS-V-Z=E$2;S!+L,GM@]J2U$J3'<A8=%]Z1,"Y$A7*GG);!K18*ACF7S&1ATS
MT-9R=M"V684G*!MJ@8P%(HK.O9Y(#YP^;<<=>:*SL0SB5Q)G("`=/>F.W&#C
MKTQUJQ+!-`B[V!P,A?2JF[<X..?>O51PW+=I>+;L-D.2?4Y'Y5>U"%)6C?Y1
M))CA1TXJE%'Y,X:1,#;D$<UI6J)(QN2X+DY`/H*B7D*Y4N+1;5P@&]B!N)Z4
MZWMW>3A_+SG;GI5XO!+&KR\,&W*IYR*9=+'(IN`S*5Y``&/YU/,S2QG-O\YX
M@/NGDXJ3:K<*QQQVJ2%F:4F0J#(#@XIT4&YW`95*^AZU5QD90L[#8.F!E:;&
MH#`.!^%#7#9="27SU)Z4@#A-X(.:HSDB5QA\=NOI3H1V'?UI@E:2/+`$CBFC
MAPR^G(S018E+HK%2!^5.&#C`J'AFS4BN#0!,5!2D1B'Z9]J%QD8/!IQ*C(/\
MJ!7L7)((@H(;$F,FJPN099#OQM7`!Z4Q3PRG@$<&JZ`Q7#!<,<UGREIEJ-C.
M[1R3Y*].34R0N)!B8A1R#GI3HK8@[QM)/MSFH96:/Y78YI)7T0V7;RW;9YBS
M>8.^:SFSMYIWVB0(5#G;W&:C))0YK2$7$F34AAD[4C-D5&3@]*`><5H*PK$!
ML@T^-N?6H3Z4Z,G/%,1JV#XD'-=5;-F(#U%<=9DB09KK+)MR)]*:$R];]*<W
M#4RW_B'H:=+UH&3Q'BIUZ56@JRM(8\4X4T=:<*0`>E4-3'^CGZU?-4K\9@/U
MI@]CB-4)\Y@*R&/)]:V]24_:6XK+>'))!YI@B%9`O!!J1&!R1FH22.&&::)?
M?&:DLMCYS@#D#O0&9'C0@#)Y(HB884AAFIE3>^3C@\5#);LS5NK?3K.!5G4R
MR2IN4CM7/MY,<$_G*3D?(!ZYJ:^64OO)9L<=>@J":W8Z<T[,-I(4`GG-91A9
M:LUYD]B#2+AK:\\Q0IPN,,,UMS3";]_#!Y:XVN%Z9K'TRW'FXDRH/M6U_9\G
MG&WLW!1UWX8XXQ3GRWN)79#;6RRJ9!P5.6]ZT%TY+B-V@<A`060]11HH,<\D
M,I78J]&Z9K02R/F">%_+W#+<8[US5*EG8UC'0Q)D5+D^5^[V\#`QFF>9)-,6
M!W2#CYNXK3OK1Y7>0RH1GO52!,;]RX/17':K4KJYFT^;4FB+R0")(_FB!)?/
M:J@B=2LC2!-WS*[=?I4:2MYP$;$E\JX;H*&0"0AHPL>>`O6FE887TLTL'F2J
M%<X(?KG!J&V,<TIEN!YDXF`#9QQM-375P@B:&%&3?@8)Y-92J\5TXD.-KG#=
M^,BJBKH+FGJRE;)S]H+AF^Z>W-<S_%UK0NI3]E))8[F[UG`9/7%:TX\J(E*[
M.GT%"UF?*D0,V<HPY/-;HOA'"OVN12L8&^+8#CMG-<C`!%Y:JQ!9,YS5UIB\
M:AXQ,<\N3R:YJE+FD;0GT.C2YLGN!*I)WCY0>@J[&8'995E4(!AE'0FLN&>Q
M185NHXMK)QE1U]*U(+>#RBT2;58<#H/RKAFDM;&]RGJ,[H-\4#`(P.1W%684
M6X@6=@2&^;#5+*B"`B64*N,'/2L"?6UL#Y5O,;@9X&.GMFB,7-6B%TC7N]\<
M:;8V6($$LHZ"JL]Y)&8[F)F>,$J1['/)K%O_`!'>/;[!$4SP3FLJ*:68*D+2
M"5VP1GY<5TPP[M>1+F=:]PBNDPD4;N<9JPVJVJ1*Q\Q@V.?>L"RTJ[M;N-)\
M.L@R><X[UJ91"#Y9(!^4,>,U$Z<;V*O<PO%=VLUVJ1[MJC.#6#&NZ50"!DBK
M6K3O-J,SN<G>>E,TV#[1>QIG`)Y->C3CR0L<DO>F=K%`D<%OM"R.$&1WJA>L
MBH4RRSNQ`"GH,UK!MD:Q1$'`&2PK(UB(R:A"`J)(QQD#M7GTW>6IU/38GME1
M-F_!(X/%37<D2D[20B`'ZU&D063RWF'8`BDU"TW_`"><60XR/2C1R&WH*VHV
MDP'F+O)`.#SBBH+?1DAF<I=(I/8\X%%6XQZ,C4Y>XN"Y"*V,=<<"F221;$\M
M`,=3WJNKE?<>E.W%W^50/8"O0L<9)+<2DD;R00,@T`R\,@('08-1L&9R7R#4
MB'9(,\CM0P1*LKLZ^:Q*C@CK7:3:-I`OM7AN$:&"W\H1N&8^66P,]>1D]ZXZ
M%EA#,T?F*QZ>E:MUXC-S/JKK;!#?^6,%\^7LQ[<YQ[5)1(^C?9K;6/MT.9[5
M8FA=2<89\9'8@BK-U;Z=H[K:RZ>U]<)&KS2-.T84D`X7'UZFJEOK\[:%+IDL
M2NC@!)6;F,!@<=.1Q^%6EUFT<(FK6*W,B((Q,DA4LHZ!O7ZT7%?H%O::5]BN
M-5DM97A$HBC@,G)8C."W7`%,FMK"^TB>\L[<V<EJR^9'YA=65C@$$\@YHM=7
MC1KB,6<4EE.0?L^XC;CH0>H/O4=[J<<EBUE96@M('8-(-Y=G(Z9)[>U-,39J
MRZ#8/:V<L4PMPMM'-=@DDE2,[ESWR,8]Q0FDV7_"47]K':^9##;>9%"TA4%M
MJD9;/J3W[UB:AJ0O1;`1F,PP)!USNV]ZO/KJ#6+N\FM"Z7-OY)B$N,`J`?FQ
M[>G>G<FY5UB(6]RB?88[,[-Q1)O-#<GG.3CI6K:Z;%_85G<QZ7'=2RB0R.]S
MY>W#$#C<,\?RK!NIK29D-K9M;*/O`R^9G\<"I[B_^T6-E:K%C[*'&[=G=N;/
M3M0)LM75O"FD:9.B8DF$F\Y/.'P/TK5ATZP^VQ">(^2=.%P^UCG=C)(_PZ5E
M0:E;_88K6]LA<I"28B)#&5R<D<=1FI#K3-=SS-"H62V:V2-3@1J1@?7%(1;3
M2DBNKE9@)H?LDDT$@)`;`X/X>E0;--LK33IYM/$\UT)2\GG.N-K8'`..GM4%
MIK4UE97%GL$T4T;(N3@QEAC(_P`*ACUJS:VL[2\TUKAK4.%D%P4!W')X`_K0
M4C:AL[&/5$1G)BGMQ/`DC[=Q/12?SK'UHM]M,9M&M&4#=$S;L'U!]*5]6CN;
MQI[RT2:,H(UB5B@C4=-I[8Q^IJ'5;\:C<(XC\F.*-8D7<6(`]3WZT)#N50>N
M!S3F/[OBH`QW`"IF.(<BJ$5V)Q2(?6D9J:&XJACSG=4B?2F(-W-2KP:+$LLV
M^5<9KJ-,?,:URL;?,*Z+2GX`]J:$S9A.)&%2R]*BC^^#ZBIGY6@!8#5M:IPU
M<3H*10[O3A24HI`*:JW@S":M'I5>Y&8B*8,Y#44'G&LM[5MVY&X-:^K'RYSQ
MFL\,K9(/X4F00/:H5&>#WQWIK6T8CP`/RJ;?UP!^-03NR(6(%2%V1K:HK`@\
M^E68T<-\N,50CG829P#GM6G$"8@?EW5,BF.=-PY_&LO5ALBC`XRW&*OF0\@#
M!%8^JDF[4$CC&/:I2U""9J6$\4D*+<"1G4<'/O6K9H%WRKYD3\_(?XEJE%;0
M&)<388(';;U[5=.J/L1<;PHZR#)Z5G)7V-[I+4FLD8W"O&K;&)PO?\:LZA/(
MA^9`R`@$@]*IVU\(P"^]GSD)V%-N+]W;:08@V<L.I]JYY0;D6I+E+*&WNX2)
MB8^>&%5)8TA)2-O,5ONMFK]K`B01>3,-[#++FE\NWE\Q45$*-R_4FES68^6Z
M.:O(9[>'S%7Y7Z\TZVG,EHCK@2+R/>KEW&C3L@G#Q=03VJLT,"3Q+;-N=CAA
MT!KH3NM3*SN5=0N&NYXR@VRD8;`P*JV\<DEQ<)RQ`()/UZUJZII<<$$DQ:3S
M-N["C@<COFL[2CNAEXZ<D]S51:Y=!M6*=Y\L21MD$540;I`#S3K@_P"D.><9
M.,T^Q9%NXVD!*@Y(`K?97(ZEZZCC>6,6SL2%`(/K5R*[)A-O+$JN#C<1S5K2
MRAU":Y%OP>50J#U-:6HG2KC(G0I-G@H,M7)*IK:QNH#-,T>,+YDJ)*S+G##A
M?I[U5U"\32W:&*8N.H7<?EJJ=5N[#,8$NS!V;O2H]*T^?499+J6/>@!(W'J:
ME0WE-Z#O]E!:S76KSF,LPC3YFY_SZUK6%E:VB`2Q*Y+'ED!V\U/I.G_9H&@,
M2!\Y9@W;KZ58<,]T45(]H'&6[_E64YW;C'8UBDEJ,N+2)U421+)\V<8ZBE^R
M6:/^XB0`GA0O(QWJ;R6V?,560<$9_E4/E-$GF(K;CUP>:RNTK7*23$D4*[-"
M2/EYSV-5)G6.W>4-NVJ3@]B:F&1'O92K,V<Y_G6=J8)M;D(@&U02P[Y(JX1O
M)!+1'*3,7E=CU)S6OX<MQ)</(QP$3/ZBL9N]=1X6$:VD[-]\D`?2O0K.T'8Y
M:2O(THY58'8<$]<U!<^<)HBAW^7R0&]?_P!=/N=D;!HY"0W48Z41;]N\9&1U
M!KA2MJ=>C$E5HBN86);':FM;OR\KR(V>@/&,U-#=2E=DK^8%(Y(J>9H[IP&!
MVXQ2;:8DB.6,B/,:><21QCH,44I4VH"Q.<>YHJ=QV//@IX)X'K4L0?)9&"E?
MPS6ZT<#P;70!<\8%9CI:M*R>8R,IX)Z&O34[GG-$<]V9D*.`2>^T9_.H@70*
MC*N#TXJRT$+&,A@"<YS_`#IBH4?Y4W<Y&:+CBK$A79AHR$('(Z9JT\#POM=&
M28C+AEVD?44YHC-&AE"Y/4`5V&LK#IMO=3Q6L,\HNU0&=?,.WR\XR>3T[TEJ
M2SC-JHI^\,]L<&HV9&&"#FN^N-.L)KJ5'CC1=/F\U@!]^,KG;[\\?0U3T^SM
M6LK>Y>TMG^TS2>>#;O(RC=@*FT';QSVJDA'(*K1?O43CN6JPL3-$78[<C.,5
MT]Q;HNDR):V<8-LI+BZ@.9%!X=7_`*50\72W?]I%!"L5HNS9(D>W=E!P6[]Z
MEH=SG+E98Q&)8O*)`=25QN!Z$>HI_#Q@,3NKJ$M8%E$KP).4T43*L^9`'R.>
M>GT%8_B2%%FL9XXDB,]HDKI&N%W'(.!VZ55A;E*\ADTV8PW4>V5<97(/49'3
MV-0^:&E^05W%]$+[6[NTN]-A^Q^0&-WY6&7$8.[?]>*@BL;=;Z*P3386TU[?
M>;S9\WW,[]_UXQ3L%CE%8]&''8U)'#)/)'#&-TLK!47/4DX`KJ+-;=[K2+%[
M*U*75FK2N8QO)(;D'MTZTRR'V631?LEA%/'<%'EN7CWE6+8(!_AQ185CF)T>
M`M#*-LJDJPST(JHB_P"DC_=]:[*[@6?3M0\NRC$\;SR-+-#GS$WGE'[$=,52
M\)VOF`RR6ML\)F6-I)8C(Y)`^51V'7GW%*Q1E&%!;$@_.,'BJDJ/'@.>>O!K
MNHH(+)'7[)`V[43#^\CR=G&!6;=0+9P7]S:V$-Y<)>&`*\?F".,#@[?TS2BW
M<=M#G+JWELKF2VN4,<R8!7(..,]13`W[L\\5>\8.1XGO1_M+_P"@BLDO^ZK0
MEC7/--!.*0<C-2QQDXJD!9MQE14S)Z4V!2%/%3D96F20KG-;^DMRH]JQ`,'F
MM;2V_>"@#I8N0*F8?+4,!X%6",BDP0R*K:=*J)P:M1]*0R6E%)2BD,7M4,XR
MAJ8=*CD'RT`<CKGRSX'I6'N9"649/I6]XA'[_-8!W<E3@U0">:=V2OUS3&<-
MD$L!2EY,$<?E02S``CGVI6`0^6``.OKBI-^X#9)M(J+:>Z?K4ZP;AD*!2M<&
M3P71@)W*CA@.6&:PM0E,NI,V!G/0=*V!"`,-_*L<A6U3"]G-3R).Y2D;=L(A
M;/N4^<<8([5*J(8ER2SGJ,=*KKPV3DU*)&"_*<-TJ7&PKW+,,D3'$R@!1QCO
M4;RHX(C0`YZU$P8<$@'&?K2J<ID]:SY.I5RQ!(T<;Q.P*$=#U//:KR36``8D
M@?Q1LN<FLLSHDJ$*"R]-PS27<GG2>82@)ZE1@5E.G<N,VD+=RP"5A#$"K-QC
ML/I4=S#"`);4[G4!L*,8]J8%,O\`RR0"/G<J]:DBGCCMI$&#*Y^4[<TUHAW;
M9%JFH32:?YAG`67Y3%DY4CU_*L^P'E0;ANRX/-1WB$7*P2':&8')]_\`]=6)
M8D@MBT<F0C%>#U[5JDDK(F3,B=B\K$]<U+I\@BNT=DWA><5#,1O.*L6#;':3
M&0HSBM7L0MSIH+YM1M6BB'V6;=@NHV@C/3BMBRM(["V1%(>7NX'6L/1K>>6T
M\\EF65S@9YXS_A6O%)NAD=S*C1]0>@_6O.J[V3.N.B,OQ5)+,\9$?R#C=5VS
MO+6WTM$-R0R@9"C'..]9/]K?;K]4GD*6T;%@N,CBM%HX-2F>2UCC)9<-N7"_
M_KJG&T5"01?5"_V]8^>JK)(C-@%ATHFNX$9]SAR6RH!R?UK*%G`9;F"8+'=1
M_,K+PI`]*:+6]U..)?(CB"C_`%G`W4_906H7;-K[9`<EY\@D<'J/:GK=6IN?
M+>[.`,XW'!K$.ARV9\Z=UD"G[G7=3;B""_F6.",021C,F>/RQUH]E&3NF',T
MC=ED"YV@8ZC%8NL7+B&4><"K8`49J2PDD286L:M-"/XF&#5+Q`X4^2%P0<TZ
M<+3L$Y>Z8O4UV&@6;KI:3HH);/6N.7EA7>Z?+*FGV\:X`"CCUXS6N);4=#.C
MNRG=0G?#$VXO(<X'0=ZNVJI"X4CCG.:HM_I&HB8,=T0(PHQS5YMJH"Y))'(K
MEE>R1T(B>,X;;CDD^G&:525VJORXIZA'3YS\HX]Z3Y8R&RS;B1R.E3<JXV2=
MA]X!CG^+FBE""=22Z\'^+BBF*YB./+1OESCVK&5U$O[V+`;...:Z7$<<IRV"
M>QIMY`EU;Y6-&<'CBNV,['G,Q57]P5"EG4>O2HXG(0EFRWH><5/AK*<J4RO0
MFD%N\[MY:!`#G)/6J$KD\3&170<G`(R*D;4+WYA<2331EMV2Y.6QC//?'%3Q
MQK\LA0DHNTX[U/<64R0+*EK((F'WY$.!^-0F4RFVI73R%A,[M(/F+L<D>_KV
M_*B*]O+4'R;F8!S\VQRH-7+;P_=WEW:QW4#P1S*S+,(\@8#$9]SM_6J,EM<0
M,D<L$T0?E3(A7?\`3/6M$2]-AQN[A[?R6NIS&W2+S#M'X9Q4;7%S+$L-Q<22
M(GW%9R0OT':I397$,XC:VG$KC*(8VR1Z@5%=6L\)7S(Y(F<9`=2N10KDCUNI
MRW-Q+CR_*^^?N?W?I[5!=7+S85G=M@"*6.<*.P]!4QT^]AV+-;3JSG"AD(W'
MV]:9+9SI/Y3V\JR]HV0[C^%4"(Y=3O)(1')=W$D?38\A*_EFA;ZZ,`MA<S+`
M?^68<[?RZ43Z?=0JYFM)XPH!<O&P"@G`SQQSQ1%9W6X*MK,Q:,2*!&3E?[WT
M]Z=BR47<\;QN+F421+M1@YRH]`>PY-10W][:J5MKRXA0G[L<C*/T-3G2[LA5
M"8N&E\L6[9$O(SG:>WO4=WIMU:^?]KV0/"1B.0E6D!)&4'<<=:$)"Q7URX,,
MMS.T3DEHS(<,>N2,XZU;M[E[%'\F:2)92"0KD9_*J`M;B"2-[FVGC23[A:,C
M=]/6G:A8SPSPH894+C.R5"IQ^-3)%(W5N[F=2?.D.2&^9R<-Z_7BL.XN[JUO
MII+>[F21SEW20@L?<]ZTHK>XM'97@E!1,L`IRH]35#[!-.S2/B-2C21F3*^;
M@XPOJ>>E136H-Z&;-++<2M+/*\LC?>=V+$_B:>5'DUL1^&[PRSI<12P&.W:=
M28R1(0`=H/KS^%9MQ;3VJE+F"2%B,A9$*G'XUT$E6%@'"GI6G#&./2L=F^:K
MEG=['"R'*FF!J"/THV$4J2*PRK9IX.>U,DCV9%7=/RLRU"%JU:+B530!TEMT
M%7`.*JVP^4?2K8'%)@B/&#5B/I4+#FI8Z11-VI11VH%(!136'%/I#3`Y;74_
M?'BL,0[VP!FNHUBV+DMZU!96:*N63)^E,1BK8D]5J*2U"'D&NM-LC+]T"JLU
MBI!^44`<ZENK=S5F.V.*O_8]IZ4H@H%<SIH-JL2.QKF;&(W&J<''S$UV=W%M
MM96/937*>'DWZHWL":E[E+8V6@/TJ/R3D[F`]S6FRA3R*ADC4BFU<5S.,;[0
M<C_&HB[1(-K!BQY'I6C%;[A(5.-HR.*H26\L<RLR\..`O6L6^AI:^I&3(<MM
M).?X>*GM%)<DB/"C++)R*FL)/*E9#"I)!7>1T-%I`LD\D,@+8!R0V,8-9.6A
MI8OVS-]G!B,8+]0I(_#&*CFC%K.CF)GC"_/NQUZ>M/+QK!OCCVXX#8YZ52CB
M`+_;&9=_S1N3R#7.KW-'8P]2).J;G3`.#CVJ2X9#:N`I5&Y4#ZT_6T87L0DP
MI8`>8#]X>M69M+Q8XBG5_ESN.0.M=7,M#)HYINIXJ6`91AG&1@>_-1NNUV4D
M$@]JFM0=\8*Y^8'\*W>QFCJ--FGC@A2-O+2-=S`$C)_R:=J&HS"U(5F<L/F;
M)IJ7L-TY@B_<*%.3ZXJG&EQ>W:0QL?+4?-D]JXN57NSH\D.TO3;2\A,D[$,S
M<8%:2B:WN1:I'O@08!7@'ZU=+65A;JI4*.@P.":A@NHI`460KW(7@`5BYN3?
M8M)+0ADLXIIF:?YB.A8YP/2BVMO*D!21TA[`L2OX"J\OE)<FY1A)[=JM)?)-
M$JD%<=@./RI2YK#3)+DL^-VTA5X]_>L.\LTN8Q/%@.6VXSR3GM6Q<3GRU)S&
MI&S/3/Y52AM72,H!&&'S*1R>?PJZ?NH&KE-Y;G391:DD`X..^<5D:E*\MRQD
M'S9YS6_);*SO),Q\Q`"2W4\5S,[&29CUY[UUTK-W.:;>S'6R[YT7U(KL?/2"
MV"M\SD;5&.WK7,:-%OO0V0`@+'/>M^(1W3B;&T]!6=?5FM)65RXD7DQA8_E9
MAG-1!F=MARSCJW:G(P!&'.!QNSWI\G4CIQVKEUN;$>"&&.HY'I2NQ90[8+9[
M=JHK=F.\,#;0N.,5::5(F.Y"01UJW&PKDJ8V#Y2?PHJ%Y;DA7MR(E(ZD]:*5
MAF3);O>'S4<D'H3Q4@BO(T5`ZL,<\U5;4((9',7F[">%P/\`&A9Y+IUP609Z
M"NQIK4\]LOPP^6$\R)9.>0_(%/:2(S.@E2/'IGCVJ-H&NF5XIB@BX8$=2*M_
M989"7DB0LPY)`K-L$]".WN8H61Y'1XHV&X8^\,]*WY+T1WES?2:C!/8-&^V!
M7RS@CA=O;%<5?VJF\\B%-B=<@\$U;CBV6P'F8<<%:T6@WYG56=V)KG2KTWT"
M0Q6VV5'FPP?:W;\1S572=3MTLK*:_N02EZS?.^YE!CP#ZXW&N8E7&(T<AR><
M'%/@\N13;RIM(Z$\DT^:P'96]S;Q75B&NH7$<DCB4W8E(!C8<G:,`G%<Q]IN
M)[J!Y;DEE<;7D)8)SG//:D5X(V$;#=A<8[TQ$9ED9`3&#D9ZXHYR;-['6_;+
M-;N*>XO(A<2JZD0W&^-6(X<'G9Z?C587MM!>VL;W$*NL,T:3BY\XH6QM+-M&
M,<US4BQK#DY63^Z*KR?-$"BX-7<5]3>$#G3]0L+G5K::6YC0Q.UQN0;7R1N/
M`SZ5+]L@M;C;%?0%XM$\D21R#'F!N@/K^M<S&[@8=3Z5#-$`Q8<#VIW*OW.G
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MK[%_A['(^M8.JW7VCPYI0:<2SH9A)E]S*-PQGO\`2L%RV:D`_<&K0RJQ.:,=
MZ&!'6DW8&*8RU:W#1L,$_G6Y!,'0'O7,J<&K\-V8D'<4T2T=`N#5JW&&%9%G
M=B7`[XK3MWW-P:9)TUF<HOTJ\.E9U@V%7Z5I+TI,:&L*DCI-M.08I#)0.*6@
M=**0"T444P();=9?O4BP(HP!5C%&*`*YAIIA]:M8I",T!8HM;`U"]KCH*T]H
MI"H]*`L<UK0,&EW#'CY<#\ZYKPA;F2\FDSPJX_45TOC?*:,`#@EQ^/6J'@BR
M/V.:=A]\X'^?PJ7N5;0O31KGDGKVJO,H)(4#;ZD5LS69*':!FLXP2139,>Y0
M>_2DWU)2*'FM#OC7:%?U'\JSWEDCE,R2N"HPNTG(K=U+9*-H0`@@?<``_*DM
M=*^4R;XG`4Y7O_*L'-;LUL]D8L=Y*&V[WV/\QP<9-(DY#R;1M+]V-3>4%\PK
MD88C![<U&(GN7V0J3(#WZ54DDKDZW%%P3!Y"OG!W%C]>@J&ZN[B5HO-3=#D8
M/<<=,UH'2Y8XP\[Q#C!ZD#]*K,+$VKQ22R.4[H/E!K!.-]#7WNHQM$ENYHYG
MF"0?PJ221Q2:SI_V332?MQ8?PISTHBU%XK2/_2,;3F./'+#GK6?K>KG48(U(
M4%1S\HH2J.:OL4^5(Q#4T4KHN58^PS4(7)ZU8A5/E+'(!Y`KM;[G.NQI:?;,
M4+R2;=HW8&?FK2T[+B5HTY?Y<YP?\\4UV"P*JQE5*CJ<Y&*LZ5;,L7F2J-G)
M!4UQ5):79T0CJ1NK7&RW=FVJ<L7Z#CI5FWB6*(K:S1D/QPN"/K1O!E`BCZ')
MW#M4I@6.59P,G'*HN*Q<M#1+6Y2$4".\<S,.NW`P#]:FLX(I;9Y=K`ID#'W?
MRIU]),ULQ-MN+`':<`BF)>2K8E)89$"KQD#'\Z-7$!@W11[9W#*3O)(R*?:S
M*\;!'#')`;'.*S([PR!C(A,0&`!W.:LV<)BC\P;D+GA2:TE#34=]2U=2^19R
MF10PV_>/.:XISEB?4UT>MR&/3EC+`EGZ>G6L*VMFN&P"%4=6-;X=6BV85=96
M1JZ"BB*:8@'C:*U8[?SI%&T1IMZXY%95I;362LX=61L8.<Y_"M=KD1!68.>`
M2*SJWYKHTCI&S'2PRF."&!$(#=<8/0TR\#V3F2>Y>9PN-HSD5:AO(BX9-QP.
M".U07+/EL?,9CR7Y(K%-WU*,^0B1HFMU+2O\SL_;/:K[Q)&$W%"^/O$9Q3([
M01S;<E@1UZ4LL)8[2V#T^M6VF]"N1%:VGDCFD61LCMGI14T$3)GJ2./FYHJO
M='RF.UE%-^]$S*H/&:LQ0OY9:`CDX#T^ZD6&/R?)*@?Q`]J@6>-;3;%N#YY.
M>M;7N><XZZ%FVM+VS,K_`.L1N<DY)I$CGGR&D9%#<@GFE>]=5C\EW5,#.:MA
M+:9S*LQ5B.6]ZS;[FG*NA4_LL"X62.9L$X;V'K6\FBZ?;:E>P"X\QELW+>;%
MGRCM4[@>YYSQTK*1&@`/VE3N/&X9!JS>:NIFN)Q8J+BYMV@>7[0<'*A<A<8'
M0?XUI3E?1DRC;<BB\.17#0S17WF6[QM+YOEE2`APWRY]:BO]/^PSV\RS>?!,
MA:-V4J?<8[5>T?5Q86=O$8\"!9$)#\N';<<>F*;>ZM;:H5"EXRA(^>0R']:4
MFM;#2;'IH43^<1=?Z4D:2-$(B?O_`'0&)]Q2S:2(XKD6]TLTULN9H@I4`#K@
M]\5M7L&W3HP+B5(K6-620,/+E('''7KTK,N==A%K<.ENL4THQ(X;KGK@=LTY
M670$B*#2HB(KD3BX5)XTD#1$+\S8P"?O#M56\L&GUN6UM(T3=<,B`<`#)_("
MM#_A)+62W!\CEO+PID(`*'(P,<5E1:C++K$FH0A8F$I<*>0/8TVT)QN3RZ7;
MRP.+;4%F,!#3`1$%4S@L.><?A5G6;6T.K1:9;I%&BE4)$>&!..I_B['/O2/+
M`UO<)86\=O-<`+(WF%N#R0,]!4-U,]QXCAGFB$#231L06W``$=_PH4HO1`XV
M)!X<2*X<VEZ&\J412@QE2N3C/7GFHKW0(I;TQ1WR9BW-.3$0$5>K>_TK1O-6
MB@N[A+>``?:-\K;\F3:V>/052&H2BZFNU@66*XWAXB>JL>1FIYDF5?0JQ^'Q
M>1H;/4Q+#)N2,M&5/F@;@A!/&1GG]*K)HQ6TS*D<LS64ER8W8H80&`5LC.XG
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M-;0^?*J#@'J:!D*1EAD5/#!)(=H'%7WM88G"1<^IJ5(RHY`Q[4T*Y+80);Q$
MR8+&M6R16`[&J=G&DA'KZ5TFGV`P&(%,AEJPB8`>E:J+Q4<,00``5.O`H92%
MQ1MQ2BG4@$%%+12&)2T44`%%%%`"4444`%-;CD4$TTN,XS1=(#E?'EQ']@C@
MW?O"X./;!JSX)CQH2DY^9B1^9K!\=RAM11`>0!_*NC\(M_Q((1W!/\S4K<KH
M;#+U/45%)'DXQQZ5-YHR1W%0M(N[CD]Z4NXD,,2GY?+4@]B*KW$<,88+F,OU
M91TJP[C=M4$$]ZKN9)5*;NIQG-<+BYRU-EHC#998HFC8*P+DA^YY[U!`\_F>
M6P`13G(XW5N7$<,;A"BR$C@YYSBLY)]Z-'*K(X/`)ZBNA*ZY69MV=Q5U:%4:
M&:%1$21TSFLI_+,UPEN0(3A@I'(JW/"'C;:,8Y'UK*M#)+?2'D-C##L:GV2B
M[Q94:G-NB2PT^T*RS7A;><[`>U<_>(8IG3&`&./I6C.ETMS*$F(VG[H8FG/;
MR7%EOGMY'D)^60'_`.O5J\7>3-G!2CHC$!YSZ5<LT$]PJ!0-Y`X[4K:7=+)M
M*#<1GK3K&.7[2-H(9<YYZ5JY)K0P4))FAJER(V$"2%BAVAOI5RTN'CMDC8,0
MQR<$UC-;3/,970[=W)R*T[2\VS^6Y9\+@;1@#ZUSSC>)K%.YJ27$:1':Z\+Q
MCJ*J1ZR(5^4R22-QN%)-$TD&U"GS]6--MV2WPA575N#QP*Q48M:HVY9-B7]]
M>>9&\:%&5>N<DTIBNYQYET\F2A."W%2O!(R[DV`C(7/.>>*24W"63+<R!I&^
MZN,TTTMB.5HPK.1TO0&Q@,>HKH9@7,19`>_'%5-+M`TC2-MCV<`/W-:DC!OE
ME,1\OD%1V_*BK*\E8232.7UR=GN63(*`Y`]*S$<J>#S5O5IEFOI&4`*.`!56
M$`RJ&X7/:NV&D;'.W[QNP(DR!)Y-JJH("\<U,V]E,<6Y7(P)&Z$53DMYFG1H
MPXA)``)[5J29&P!-P!Z$USNR.R-I+4J1BXMLF27/I@\5=AN"Q!?G`[FH+JWE
MN)0H/R'M4HM-B#<0<8^@J)--%7MI8LI+*1G<H[<TR7<650-Q/5A49AWDX<`9
MSNR:E#!8PF06['I63TV#J*SF(;3DD44QHYB<EQBBF,S;>[6]$H=!QTS58P2G
M=(Q6.,-D#'2I$@>!O,0G#\D>E6F:*2U=697W#GU%=6B>AP/1D"7*)`5:57/4
M`C-,64NQ&T#(Z@8S3HK>W91^[&T<`D\FH'M7WY6<'#9V$D#%"L#V'?O@XBWE
M8T&>O`IDUQO3/7'`R.M3V3DWPC>,2,[X$?9LGIFNCUVS2/P^TCVMJL\%P(W\
MB$HJC'(&>O..:JW4SUN<Q!<&(QO-$!&P["M&%($1Y8B$+#/S)UK9TR&.\T-8
M([.)I0K,K3P[DD7T#?PD5:4"ZNM(M9;.,6TELCNZQ<`_-\N[L"<<>]2X7-XS
M43F(UEN<JSQJN.N,47^CW+V882QOCCKS75?8()"DOV2V\^/?N/V=UC"XSD@@
M9(YHNK:-)'N+>V\Z06B2QP;"J,Q8@MM]A@X]Z%%IW0.:ET.5@TJ2UM(9)P"D
MH)3G/(X/TJE%<>5=M%)N().1GBNZPEY:6-K=6\<37,<JKMCV^6P;((]/?ZUS
M&J6\4VN(EK:J;>%TB"H`#,!U)/<DYY^E/3J2+8[1)F,Y5^`:L/"ERS@R`%3P
M&)]*Z*WBB34;*6"U@BMY)&4+Y'ENAQG!'?ZU2:0Q:6]W-86WGFX"@/#M`&WT
M_"H=/6]Q-W5C`D0VT)8[3D\X-,M[LPR'/^J/:NF33;:6Q@62"`PSV^]V6%VD
M#D$_*P!P`<#&:8VGK_PCKA[:`2)%&\95/FP3@DMWSR<=J;AIJ2C"F?[1MDMP
M/D;(YQ5>^LI+PJ7F!ST4]*Z-VC&MZK9IIUFL-I!YL1$>#O`4\GTY/%5-=@1F
MM9(T6)Y(4D(08`/.<#\*3CR["ZF#=6DL5LJ2`9'<&J5SI=Y'9QWLD.VVD;:K
MEAS^'7''7%=_+!$UT]E)8QFP$!?[25Y^[G=N^M<WXPE6:/2BL4*1FU1@4C`8
M`YXSZ>U;1NEJ"1S31@*,&A1E2!BDD."RJ<CM5S3[99!EC^%6-E2.U+R`,>#Z
M5L0Z3<PQ&5(CL]3UQ6E:Z7;-&'SMD!R">E:XE?R/*DD5QTX%<]2NT[11I&G=
M:G*10%C@#.:N0V+8Y4DYK3;3#'B:(DC/3TJ999`P\Q`!G'I1*NK>Z9<CZE.R
MM=D@R,&NFM1A0*RX]JR$O@*.GO6O:O&PPA!XK:%121+5BXE2"HU(IX-6,=2T
MW-+F@!:6FBES0,6BDS1F@!:**2@`I#1FD9L"@!KML&2<`5&[QXW`"H;F7"'>
M/EK.EN2XQ'P!2LP;.4\;,'U=<=2H_D*ZS1H%ATBV5#M;8"<''6N'\12F76".
M<C`_E796$ZK:PH['B,=O:DK(;V2-`R?.`W!]?6H9)_L^6YP6ZTU)XGE1=Y/.
M.:DNB@^01*ZDC)]*YJD[2-(1NB3S_P!VA52X-0ADC<%,\$D@GO2RAXK5C&<,
M1\I]/:L^5I6=`Y56=1U&,G\*YZ4O>U+DFEH&JRI]G#J/WJON^G^<UFW;G87S
M\P&0:ENI]JNDN`X!&#4?F12:>I?)8KT`KMTBMS#5O4I17<LT19=I..15:"64
MS3*JX;:&.#]*<A,!,\:*%'\&<YJ33;N&>^FDNE(7;M`C4`?TJ6[;C2[&1'=2
M6MX=LGRLWS5JO(9HVCM[K8S<J!\M8=V$DO'$(8J7;;GZT>9Y*E2#Y@XZ]*IQ
MO:QM"HUHS51D;-O/N,J?\M(^I'N>]/D54TQ4@"HQ)^9N';FLFS9GF+^8%'4@
ML16C+;/>HBQF/KG)8DG]*F4;-&J?-&XS24,DP$I:1>FTY-;,%N@GEP%1<'[Q
MYJM#,;2,(P\ED^7(7BK"6?GR-.DHD)7JQQ64W>5S16@DALL$SPA89%8*>GM2
M*A41QRHOJ2.M3V6^/<)FR>@"GG_"I9`AQSQU/K67,TS1-/48I\M]J)E6Z-Z5
M79&0/^^QS\NX[N/;/2I6E^;`R1V(`_6J\OEB7=*<(H]\9HBM3.2'1AI8&0G`
M1@WS\[A4S%H[.:90%5AT!X'/:H8Y8S'N";O4@5!J-W$-,>)=R,Q&/>G9MD2M
M8YF4EY7/7)R:L:?"6ND.W*CKD4W&^-2$"A>&;/6MJV>T@MDB#[F;DD"NR<K*
MR,*<+O4NO%$709!XXI(H%^T%CN`'4%N!^%1>>N\*L3",='`JQ,GF(55L$X)-
M<FJ.IVZ$RLTB,(MI8]#D\55DAW(RR2'?C&03@&GZ=;F!9-\A#-R`I/%/2)5W
M;B9"3G)J=F2E?5D%I%)%$=\AE)..>U2_+$?G//8FF3LQR!E4SSBG$((P'^<'
MI[4V[C=N@Z<,T8"/WS1446S<WF,<=AS12L3<L>5;72AAM(]1Q^E,DT^-8LQ1
M)DGJ.N*P].U!XI.!B,CC':M>*XRRL6?'7K6SBTSD;6Y#<6ZVLB"./=&WS'V-
M(;83CS&MR$ZD`X-3SZQ#`RA8-[9[FEGU43VY"+MYY%"YBM"E#8Q_:&:0G:/N
M8/(I[WEZ[2VSWES<A_X78L,#IG-51,TEP2C-UQ@]*V);:^A)%K$UP<XWVREE
M)QG@BKU)NNI1BN+NVMO*$MQ&@X9%D8*?PSBE%W<W$:PBY?RT.?++G`/7.*EM
MWO;MGC6W=Y1]Y-A8C'K4$&G7KW,I2UD+`Y;:I.WZXZ4:CT+DM]=?(WVFY<IT
M99#N'T.<BF&]NC)'*DER&085GE)(SU`YXIMG%=32,R6TLD>=I,:LW/X"IY8I
MTM\/:R"(G`D=3U],U-VBDHK6Y=MM59&>2>5Y)O+*(7<G83U(K.LY9+LR#;M\
ML_*PXIDUB\4<<LT;QH>A92`WX]ZEMH)I08K(,QQN(C4G\\5+3!2CN6&EGF<%
M[F1WCZ%I"2OTJ&ZU!G"PS3RR`MEMQ)Y]>:KW,$\&)Q$Z9;8QP<;L=/K1##=B
M>2.2REDD09<^43M!YYXXXIJ+>Y,GI=%@:CY+""&[9(G'W-Q`/X4C7UPA,/G2
MB(#"H)3@CZ>E5I-*DO(U=;>1H\$AE0],\\^U+8V4\JSB&UGG\E0"0-W4C&/7
M_"JMV%#N6I+MR6E=Y%DD&'=6.6'H3W[4Y97=`SRM(%4*NXYP/2JAMYI$C\L>
M<SAB8XLLT8!Q\P[59M+6XA\T26TZ;5W-NC;@>O3BIDF.VI5O/MOE-;)<2O#(
M>(RYV^O3I61<FYR(;AY'\L!5W,3M`Z`>@KI1#+-#YT2OY2<[]IP/QJF\\9?=
M<1!D/!(`Y-7&;2U13BFM#G0@[C(JW9F1)1L8KS6JUNDEJ&CB1"6P1CFEM;6.
MW?\`>*2YYX&0*OVJL0X-%Z!3&"9<N6'-78O)P-KL._(JJP*G<KOANA-,N':(
M[2<MM'?(KEDN8I.QJ"4#+'`CSCY3UJ1U0J4=@,\Y)K'C(>/@G([5*EP4VY3)
M'7(K%TFGH:*<>I>E9(PJB4%<#@+S1YSQ2'!^0]/4UFMJ`:?(CPF<8`'-7[*X
M6ZD.Y#\O`#5:4H$2:D;-F7R-Q."N>M6@W/6L%+V7[2$VE1G!Q6G%(-Y`<$"N
MRG531DXV+P8>M+N%0H01G-.S6XB4&G5#NIZGBF(=FE!IM'-(8[-(33<D&D)S
MS0`XU&6'0FFNYZ8JE*6!."<T"8EU,-Q7GZ509E(;`VD=JG<2-VY-5IHGV-M4
MAP#2N(X;4':75W.>1)C]:["!MRI#G#%1SG&.*X^-3+K.US@F7G\Z[R?3TX:,
M9QCC)YK&I44=&S91;5R-+*9)D*R@CUZTX73QR-&^?G;@XQGFK5ND\:_.@XXX
M-+M3S/,EC/RJ>&.>:X95')ZFZBDM"MJ%T7C-O"S(P&=Q/I4$<AGM$$^YBQX?
M.",5*IAN$E+0E7R1E1U_&JD\?V9$\PN6`PH!SCWHC9:`UU*TNZZD-K-$SE6)
M1^,D>])->6T,;6S0@,%^5B/N_E4;N]K<K=#<Z,#C)ZG'-4(KCSD9Y,9+GCKW
M-=48MF3:L-BGA9L+M`((()/)J*V&/,*E5).<GTI7ME='8J`5Y'%10QI-#))&
MQ5E'*]*TZ6,KJY5>["7BSI&HV=O4XQFJ]S<&=M[*`Q))([TDI!?IC(]*D6T=
MX&ESB,'`SW-:I)6N/5Z%;)%7K*66*&22-RN.A':H%MUR?,E50!^.:N-Y4&G>
M7MW.Y!W#T]Z4FK6&KHGDD,EDHENRSR-G'7'UJY;65P]GF.5=@'&#C=S6+;;F
MN`J*&R,8/TK2EN9H(TMHXPAQD^]8SB]D:QDG\1HV:-"/)ED5N,@#^M*1M8B'
MCC)P>*HV][(8^1&><<#!'Y586ZC,3D<%3@G)R:R<6GJ=4&B4AW\M8LJ<9)]:
M;,)G7&R/!&"A)Y]ZEM7``W<YY)YXIZ'+X8?+DX&.U0Y69;294YAA8B)A\O*H
MV!53[39R,C-&S$#E>M:\\2/&4"XX^E9O]GVT&2V\X'+*35P:>K,Y1UT*5_"K
MQ%HDCC3.0I'S?I3M&M@6,K%6`!^6KEK;P@-D[@3D*PYJUY,:@[4"9X!7BK=2
MRL1[.[N1SW"QPJI(&[A120I+A0TF3U-(+6-R$92V#G.<\U9CPWR+@8K-Z(IQ
M&EG1QC`'>D,LKR;MBE%_*G.1NP5!'UI4C61#GY5QTJ=!L8SL01R%]*KB9&D$
M9RI'K3W)9ML>0%ID_#JZH&D`YX[521$FB<2;CA<,!WQ15*YE(B6.$%6!RQ6B
MJ22W)N4I+(P98.%`Y"GTI()GD(3?A13IEFD@0R[W"G!P*%MW:1,$JJ\C<,9%
M;'*HMZCX[<7DZ[HV('?/M3Y$-J6&THO7FD.HI:SA2K`Y_2KHNK>^C9%;<1UR
M*EWZFBBC/50<!9,Y()S],UU_B#5HTL[TVETID-VI`CDY*[!R,=L_K7)S96:-
M0@&#U'IBH)YF+D.,(#][UJD3:S.RU&^AO6U.VTW4+>VN#,C^<9`J2+MY&\>]
M-BNFGTZ&VBU2WBN8)3Y\AF($A[.&_BXKCH6C!<JQ5">?>KMO*)8FB0CV&,$5
M38VDCH-7U.*2SNFT^ZV-)?J2$;:Q`CP3CK@L,UH3:I;M=ZKYMPDD`:$QC>"&
M&1G;Z]^E<U8)"(9A<1%F#85@:4R)D*NT>H('%1SZF<HLZ'6KNWGL[E4FAF6=
ME9!]HW$8/9-O'&>]4-+E5M-GLX+B.UN%G#EG;8)$QC&?UK(A01[Y<AWW'Y2:
M8MVBNS>6!)ZGUHYKL6J.LCO[.XU"6&>02VYC3?)V:1.21]>GO4L%Y'<P1S-*
ML4R3F5U-QY08\8SP=PP,8KA8KV2PDE\UMPD.Y<<@9YJVCS71!B<,I&<'`H;:
M=RVM#H+Z[,>GP):W`7,L[,D3]`6X].,$U#IDJM87UFL\=O)*J%"S[!D'GGZ5
MF(K*-IZCK47ES?-,D6_'8G%2I:W$[K0Z.QFCM=,BS<H9(K2X4['Y),@(QWR<
M<5)9Z@C2Z1NG"QA9?.#R_=YXW<_SKF3.ODJRPR!V&#@]#4:+<Q)@`MG@'(S^
M-5S#:L[(ZNPN[8VEF\<T>(HBDD3W'EC)SG*;3NSFN=EM4C\IWFB*/GY0>4(.
M.1VS43,1)$A4^:/OG'2I%BCF8!C\XR3GH:ERON.S6PKS&1O)AQ&F<97D,*?B
M5'^5PP;TJ&`@-)@(.RXZTI<!`&9E8=QQBI8)OJ322JJ@RROM'&"<X_"H(B9B
M[QRC`/&X=14,\;2QE@=S#N.N*6VMB4."`3R#WII$LN1EXBCS#,9Z[>*LLT;P
MF8$JJC&TGK69YT\>`Y)0$\8J0N\D:MR(STXJ7&^K+3MHAK,9'#QJ%&>/:I8Y
M91)R>?44ZWS+N141<C&>!TIZV[AL;BP'>DY*S#E;M8F29T?S`>?2M"UN"=S=
M"3TK+"9.X/RIY%6HKA4?HV#GG%.$K"E%FS;7>>#5[SA@>]<['.JR95LU;6^4
M\'.179%W1BS7,G-2QL"*R?M8QD$U-;W@'!)-4!IYH9L+G-5#<C%5I+T@GD8I
M#+AN1NV@TPW!Z`BL5KH><6!)&:M+(LN&08]CWJ)2LQI7+[7:*>H-1&>-MV3C
M-49F7*OC`)QCO48E5F/!55ZYHYDV*S%EN)(W^5LC/%)/J0-N[,,,%/-5IGW/
MD=.U9^H.!9SXR<+_`%H;0EN8NCE)=>0R8.69N1GGFN^@N<XC/4"O/_#P7^UH
MW<`I&"37:12BX=WB'DC^^>E85DGNC>+L7I9XL8+-D=!DBLRWNIY9KC>N2.%!
MZ=:N-"#&K^=NYR?>JTUS&LGEL`<]"HQ@UQ*VQO;2X6\T@EG%P=@4?<4@8]ZE
M#!XQ</Y8'0LW)(^E4V^R0[[AB99#@-&V?7UJ+49#930RQ8(<#Y2/E`J[)L6R
M)Y["-&2?YIK5^%3/"D_R%00:=8_:G=5*@<[/?V/UJ^=7LC:J)709(X5>*9<+
M::@ICLY"KJ0<KP*:E-;BLF<WJ4^)90%(/3&*HVZ;+)Y2?F)Z>U=+J/AXM;EH
MY"\_).37.26LUI9@S(RJ2>375"I"2T9BZ;1ER-ND&`!3Y+B62-(@<*/X1T)I
M@_>3$JI.>@H#&&5#CE3DUO8A$]Q'Y<<8:)U<\EF[U)=B/R5\IR2V,YHO-1;4
M)HA*,(G``ILI43Q@`E<],5*O;4IZDD2/;(KX*D\YIYG,C&:8Y=AA<=A5O4KM
M7\F%4Z`9!4#M5&0QL3M7;D_E[5*UU:':PU)FCD^0A6Z@BK:26T<BNY9I6&2<
M<`U"^GR%(V0?>/'(J-K=O.6/.Z0$@@=J'RLN*DMC<@OD=,8S[D8I\%R;F0K'
M)ROHHQ68MI+)+''*-D:`\@\FM.)8K>%5C/E_W1W-<\HI'3&4NI+<8W?O&;=Z
M`U7%T!&WR[E/'3I3X+8;G?>TDCD\MV-.6UDPR21Q@=BO>H5D7=B`*Z@Q@$XY
M+=:4HTOR@C'L:18TB5\2`$<=:KI,JOMCR6Z%JJUPYK#I%=>$8C'IQ2Q)^Z8%
MMJD9)!Y-*)0IP>>.:210ZKM)QZ8IO85[D9E\DA0A(ZYSBI(9I6)+1A4['-1R
MPB>%S(Y'88[5'!(P585))7KD=:=KHSUN6'NHT8C(+'CBHI+SR+=O,=3NZ''-
M4KZW+2F1,J<C@4TVHG;RVER$Y/%-13,W<NV9A\CG#L3DD"BH(]D1^5R@QC`%
M%#C%L=BS;9A4K*V0>PI\K1R0.I(88X`JI-)(D?[I-S$U1<W:L)`K+ZKQ5\MS
MB4F4)W<RG><X.!1#,\;81BN[J14EQ()2J[`'R<\8K8M].CM[-99`@E`R`><B
MM7)):FJN%JCF$2S(KC'R^N*=/!!-!N5\LIR8ZH1WTTQ:*1L(>@`H@<6TK#DG
M.-P-0XNX-W+%M9>>[!5=<\Y(J_;60@B?#H6YZ'D542\E:1668[5XITRL,NC/
MN;DU#N&X)*QW#)1<XZ=ZCN1M7<JLP/?-2R+YL,<1D&XC.,4V-FBD"J!LZ$&G
MH@"!R8]PRH)P#CH:22TENKE%D9F(&2%`&:G:XEBB=Q$#'Z$5#'-*Q%P[M$'X
M4"A,'$;=6;O;NOR_N_S'-)I^WRPT1Y'!S5B60I$QQG=]XU5^Y&)8UPN>F*+M
MZ%71<DNS`H9@`3QFG)>#"Y.`W!K,FF%R`LAV;3GI4BP,2C!\D'\Z.5#;C(UP
M&$9!.1U'M4,4Z3JZB7!'!XY-!>6<+$N$&,$YJ460MKZ-B4P,-CL>*CH0HV9-
M:7D`=8WCP^,%G`)Q44\+,S20A]C-@<\9]*CU*U\V[,RC&3T5N@J$3SI+'"K_
M`"(<C=G%*UM4.SN6I-/NX0&1/G/8XJ)HI&D8-]]?O#BK5P+I4:Y9V+#[NQCC
M'T---J'LQ=>>%E8Y*K24GNS1JR(075U``!;C@#@4IA:-VVN3@?PT*$C?YBQD
M(X/8U)&\T6Z1(E<CL<<T$)="NVYQLF/0=NU316\GRYDPA'0],4@8/%F1-CR-
M]P=A4@V0$!]SQ,O7KBDWT+Y>I%(J1;MN<YP,$T0W<R@021[3U'/44C>09R4W
M``]<T]\<,T8)!ZY[4_4I618BN$\O>0`V><BD%XQ8,1^[(/%5E+%?NY4>M(5)
M*D+QCH#Q5023N8RFRR9D+*.1GJ*LB>`<`L.*S9%5U!7>K#DYJ`RG<%4GBNA-
M/8R-<7('`/?K4T5R5/-8R.V_J:L+(V#FJ30K&X;Q#'COBJQ?<"3T]:SQ+G//
M2GQSEAM]*&T%B[`\7FX=-P/:I9&W$&,G9D[>V/:LP3,IR#@^HI4N'W`.PD0'
M@&LYJ^J-(M+<UU*+@>6Q)&1R/\:0P[D3S$(+<%O2J$<18+(DX9U/*!B,#TJ:
M6Y<-N3S%Z@J6SFN=W3W-DTT-F!R64JRJ<9%9^IW*0V%P`HRX"C/KFK_FQQ6Q
M/E@2YSN/-8OB1MUG&VU>6&2#[5I"7-HS+EL[HH^'8IGO&:--RXPU=&RO$_E.
MS^7GYPA[UG>"^7N=P`39UQWR*Z:1X$5E*`9(.Y5ZU%:LU+EL:1IIJY&@@1=R
M>:65<;3TJE!/:?:Y8KLLC`\!N0#^%:<L\$4#CA`5W`D?>KG;(H3*]U$)!*YV
ML!D]:QCK=FC[%JYT^0E9XE8PAB2`?O=><5!:L)A,EVLH4?=WD\<\#\JV8$G6
M:#RU<P^I?H,>F:JZG/&UQ)#(\93(;YL@_I1S-NPGH4[O0FE@!MR`"!P35RPT
MJ/2U\\/(\N!QGOBH;6^NKJ\:W615A"D(1TXJ[9W:W$$D4FTS1DANQ/OZ4YRG
M:S!6*=UJEQ+B-)%AY/S-U/M69J`NM1\NU5L@<LQ'`I^I+:*AD>5B=_.!R*FD
MO]+MHHTCED;*YY9J<8\MG%#4M'<R+C3AIL#,98FD/`PQR*Q)&+.2>2>];]ML
ME>>XFA\U&R$Y''X5@RXWG`P">!Z5UTV]F832Z%ZRBMKAEC)V/CCCJ:F&G7$4
MN_KMZ9.3532Y#%>HW4?6M:9KB=@T)"Y.-P;I3DVF;4U&:U,YC+)(7F)W=.>*
M%5<_O`WUK1F@W,HEE5MO/`Y-131')((<CC;_`':E2*]B26Q9(1Z`YVD<U;BF
M9GS';Q+N[XY-5K4;$/V@XQ_$>:NVQ3`,6YD'(<XY_"LIV-MD9]W!.MT66X&.
MH4MT]J@;46*F/RPS9QN8]*U988)V9[B,'/OC^549],A>0+;@`>H)/\Z<9)K4
MQES="_83F*WPV'9NX[59WAL;9#[CK69Y$T0`+DQ)V7`S4AE=7!5"J-P0*S<$
MW=&D6^I8O8[=XR,@$<EJJJT(P(]Q)[XQ5V)XF7:(O8DB@V\0=9#M!'`QTJ4[
M#W*;08`*\D_Q,:!+Y2MYIYZ#%3RB6:;RQA4;JV0*CDM\1JG!.>XSFK3$]"K&
M7QC)"D\`FK$0P6?86(].]0"/%P`6QL]N*FF$[J=DH7/3'%5+5V)<AC7T0#JZ
ME3VR.]4+=+F5GD(?RVS\R@4DUNZ@-.^23CCO5N6:=(XUC4X`Y4#BK7NJR,]]
M2Q$L'E*"?G[_`"\T4%=JA\E6;L!THK)V'<I6UVK^:TI"*O(IJZI$S[=K?457
MM4CDND0I\A_ASFFW&V">4QH`5;`^E=/*<B@F-U%8V'FQGD'!XJM)>32!`TC$
M(,"K&H1A8H'!/[Q=Q%4*J*T*?NZ%B&Y*3F1AG/0`5-M$TI:,E23\V:J1G#`X
MS5Z*?RU+!%SG\Z)">P['E$*/FXYXJ6.XE5?E)SV'M4L3BXC)*A2/2K$<:06P
MG"AF/'(K-L(HH+,[WJ[P5`Y/:K,Y0R#8QX.<52\PS7&U\X4\<FGN#Y\C!B,9
MIM%:DWVJ=W,29V'@\9I]]&T@A4/C:>*JVDK-+))G#*N.*DA=I,EF)(&0?2DU
M8M:[EBW#)(5EDRN?NXJ[<O#]F&P!0"*J0L'MQ(P^?N<]:JNQ"ELG@]*FUR&K
M$C%'D9&VA?7'6IHRJW";B`F/O>E5702,I^[N`SBF"(F8@R-A>,9]JJQ-C0:Y
M6XN&:(DQQG&X`@&K[M'<Q!5!;CKW%9D$AMK7RXN`W7/-+;W3D@K\IQS@]:EK
ML4X\UK$X;R]J*"&&<MFFSL)]CA3OZ<5',Y*/("0R\\&I-(5IU)9SG&<XI6LK
MC5[ZBCS@H6223:P[L34T41(`\X)%CO3Q&;B2>%G(6-<C'U%0QDA%BX*MUR*G
M=%I:C99)$887>H)Q@\TZ-V;YPQ)'09JK*Q!89X!XHVA/N9`SG!.:IK0)JQ<>
M9LJ6.)57L.U3K(C0X*Y;'`SQ^-,50$#GYBV.O;BAE42948+XS^50T5`55!D;
MA%)&3BH[D&)1*K;N/N@4^4B.,$#G=C-1R<Q]3SQUH1370DMMTT2R%E4$8P:E
M#+$2L8R1ZU0LOEDVGYE7G!I]S(R/A3ZT-79DXHLNV]6;(R1P*S_WD>&:,C<:
ML0$RQ')QM-22O\JI@8%4G;0SY;:D:,=VYN`>])+*0O'!I0N04/0&AV,43@8.
M>,D=*TN2MQD;D%06(#=<U.LB!BP!/;`K)5V97#,3M/!IZSL'4>BYH931?67=
M*V`=H[4^,[ERISGL:K6H,\LH8E=@)!'%78U$=AN`R<]34.=A\A,DBL?D^7`Y
M)'>E:125#RY(]*H>8\:'G(8]/QJ12&.XCD':*AE(U%*39#9V8ZBL3Q`UL+)!
M$"6+=R?>KT0VJ=I(ZYP:QM?38L6"<'G%%->\5+8N^$QA+AR^WCN3CJ*WIYEO
M(RR3,-BX*`[<^]<IHP86,[JY`#`%>QK0,XN&1!&(\+@E>^*J<+RN)2T-=;!C
M;&20MN*_*C.3\M8\=V\=HT)3;^]8A@>G)J6>2XVK_I$G"X'/05GQ.RQ&3.6W
MG[W/>G"/<),V=.O;H@+;ECDX;=SBJFKP?9GC;S':1R<D_P`JS%O)XK@2Q2%&
M)_AXJ_\`96O+-+R:>0R,YZGZTN11?-T&G=6+FE:G%80,DT&XYX(`)IFH7MI.
MYFM-\<K</QBJ<LJ*R[8E`C`XSG)K6TRRAU.'S9D"MN_AXJ9**]\:4K6.:NF=
MX&R'(!ZGFJ)`$B>:&V\9]<5W\EM!8J]K'$K*6!RXR?6N3\3$?VH5"JH7C"C%
M:4ZMY<MB7"RN7M.BMGL93;F3/)56]*YF0D2-UZUV&GVD8\,FX3*R[3\P^M<<
MYRY/>G1=Y2"ILB2VXDSZ=JTUO(EC3:N&'4"LVU/W^.JU8MD!MVD/7=BM96ZA
M";CH:5K(TI+DHI]#4TC^5RVQB?[IK)4[F_2K%O"#=J&)/&:S<>YM"LWN7_-F
M>']W`&]><T@+H$S&R,>BCI^5()WMYOW7RYX-/FG=Y8F)^;.,UFU8U\Q9K>60
M8!P",T[:R0[<@OC!XP:L3/Y:@#G/O67+J$BLR*B@@_>J4F]"6RT(?W85@Q`Y
M.7)Q4B,@49).?QJK;SO,[*>.ASZU.7)E.>@X`'%)KH"9)-+,A`B08]21FB9)
M$A1ER9<YQVI(P0PD8E_8U-,>25RN1V/2IV$0RP&Z@C5@5<<DJ<4DT;@A$EVJ
MHYR!FHS/(J+&&YS][O44D[-))G'&!5)/8'J,&/-^=F#`=>H:GRR!(MY;!'(4
MBI41!;,=N6SD'TK(NBSR`NQ)/6K2N]2&]"U;1/=3-(\F[:>$!XK1>6,0YVG<
M/X<YK),S1P`Q_)SCCO5I5\NW#JS;GYR3FG*-]24Q\U^$5=R'GL:*HWY9MI)H
&IJ"&?__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>highincomex2x1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 highincomex2x1.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#`!`+#`X,"A`.#0X2$1`3&"@:&!86
M&#$C)1TH.C,]/#DS.#=`2%Q.0$1713<X4&U15U]B9VAG/DUQ>7!D>%QE9V/_
MVP!#`1$2$A@5&"\:&B]C0CA"8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C
M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V/_P``1"`"&`(,#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#O:#THI#T-
M8%";@#@L`:-X_O"N.U-YKB_G*L<J.`#60;F8`[F(/H6J'/6QHH75STC>OK1N
M7UKS=;N3M(*=]HF_O#\Z.9]@]GYGH^X>HHWCU%><_:9#U8?G2_:IN@8?G2YW
MV#V?F>B;U]11N'J*\[^T3]W'YT^.]E7@,A_&CG?8?L_,]"W#U%)N7UK@!=S$
MGI3C=2CDD4<_D+V?F=[N7UHW#UKA5O7Q][]:D^T2D@+@^IHY[![,[<$'H:7M
M6+H1;S)`WH*VJM.ZN1)6=@HHHIDA4<Y(A8BI*BG_`-2U`SE)!B_E/7(%<QK(
MS+'D8^6NGE;_`$Z4>PKF]9'[V+_=K*&M1FTM(&;L&<@4N.:7!Q0!799&-V(0
M/2E`&>E*12@46078HQVS3T'/2K&G6JW4^QR0/:MZ/0[7:=R.1_>!J+I;E)-G
M.#K2GFM"_P!.%M\T3%X_<8Q5#O3T$[AR.]:6D%B9@,G@5F&M70^LV?;^M9UK
M*#*I_$=;HHQ*_P#NBM?O63I'_'P_^X*UZRI?"%3X@HHHK0S"HY_]4U25'/\`
MZEJ:&<G.O^FR?A7.:L/GAY_@KH[EL7LE<YJOS/%CLM94_P"*;R^`I`#%+@=J
M0#`I176<XF.:".*7'-2;:8&EH5REO)EUR3W%=`;X!E7:3N[USND,(I7RH.17
M002`H"P%<M2USH@M!MZ8VM)8V^\1D5RY49&*V=2NTMU*MG>W2L8<G(/-7"Y,
MK",HQ6CHXQYOX?UK/(-:&C$[Y0/;^M*M\#%!>\==I'_'Q)_N"M?M61I&/M<@
M_P!A:U^U9T_A1-3X@HHHK0@*CG_U+5)4<_\`J330SD;O_C]D/I7/ZB"'CSUV
MUT%V?].E'M6!J!R\?KM%94_XAM/X"GC-*JT#([4]>.:ZC$78`,FH6EQ]VIY6
MQ$2*HRL(T&.I%`T7]-O6BN/+"!]_`S74PPW.&\T)&@&6<^E<OX:"'68]_1>>
M:O\`BC7/M4OV2V8K"GWB.YHE"XE,R]4NQ<W;%"3&IPN:CCDW#Y>M5B<<TBL1
MR.*IQTLB4^K+P=AUK6T1MS2XZ\?UK$BEWC!ZUL:%]^7ZK_6N>M\#.B&YU^D<
M7DO^XM;%8VC'-W)_N+6R*BG\*(G\044459F%1S_ZHU)4<W^J-,9R5XO^ER'V
MK"OD^:/']P5OW@_TN4>U8EXI8QD]E%8T_P"(;3^`J)'EL4%#GFIXL&1?>H+N
M=(&);N>,5UF)%=,$A/K67N+-S3YIFF;+'CL*BS\U6D0V6(9W@D,D9PQ&,BF*
M3W-,I<],4Q#B:7=Q36Z4#@4P'QOAZWM#8;Y2,]OZUSH^]70>'S_KA_N_UKFQ
M'PLWH[G9Z+_Q]R?[@K:K%T4DWDF?[BUM5E3^%!4^(****LS"HYO]4:DJ.;_5
M&F,Y6[_X_I/I6+<C(0$_PBMN[.;N;GM6+)ITEW,KF7:@4=#6-/\`B,VE\`6-
MONE,CGY1T%9NN6:1>7-&S$$G.:V6MYK<,$!*=`<\U7;302HNG>7O@]!6Z=GJ
M39-(Y@*Q7(4GWQ2$$'GK7<6\5ND9C5$'M7(7X`OIL#`WD#%:QGS&<H<I6S0#
MS010!5F8I-+VI,4N:`')RU;NA?>G(/0C^M8<7&36SH1R)B3C[O\`6N:OK%G1
M2T9VVA$FZD)_YYK6Y6#X?.ZXE/\`LBMVLJ?PH4_B%HHHK0S"HYO]4U25',/W
M9IC.6N_^/N?_`':Y^[U1[&:-54,A0'!KHKH#[5<GOLKB=:.;B/MA*RI_Q&;3
M^$V?^$F@\KB%C)[XQ6;>Z]=3@X81@_W:QLX/K3F8$5UV1SW9(+F8.7$K!CWS
M39[AIG#-C=CG'?WJ$MVH7UIK<'<?NH#4VG@C;FJ$&ZDSFC@TT_2E<"V@!7I6
MIHV!YQ],?UK(1E*\9K3T=L+.1QG']:PJJ\6;T]SN/#1#33$>@KH*Y[PL!B1A
MWKHJRA\(JGQ!1115F85'-_JS4E1R_P"K.*8',7S+'<RY(!9<5C/;J=OF)#(0
M,`LH/]*ZFYL(+A][QY/O59M+@Z>6*R<&W=&RFK6.=-I`?^6%L/H@_P`*!91?
M\\+8_P#`!_A6\=*@S_JJ/[,A'_+*CDEW#GCV,$:=&3_JK;_O@?X4Y[&%0`+>
MW;_@`K;_`++A_P">5']F0C_EC1R2[ASKL82V4>?^/:#_`+X%3+I\##_56X/I
MY:UL?V9`>L5*-,@'2$4.$NX<Z[&6NG1;<&.V'_;):5=*@_N0?]^EK6&FP_\`
M/(4\:?#_`,\A^5+V<^X^>/8QCI<(Z>0/I$M!TR((Q21%./X4`S6W_9T)_P"6
M(_*G1Z5`[8\E?RH]G+N+VB&>%D,<<@;KFM^JUE9QVBD(`">M6JT2LK&<G=W"
MBBBF2%(1GK110,38OH*3RU_NBBB@`\I/[HI/)3T%%%`!Y*>@H\E/0444`+Y2
F>E'EKZ"BB@!?+7T%&Q?0444`&Q?04H`':BB@!:***`"BBB@#_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>highincomex2x2.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 highincomex2x2.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#`!`+#`X,"A`.#0X2$1`3&"@:&!86
M&#$C)1TH.C,]/#DS.#=`2%Q.0$1713<X4&U15U]B9VAG/DUQ>7!D>%QE9V/_
MVP!#`1$2$A@5&"\:&B]C0CA"8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C
M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V/_P``1"`!$`,<#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#O:**1F"C)
M.!6!0M%,$A;[BDCU/%+ACU('TI7`=2!U8D`YQ43Y9Q&K'/4GTJ55"C`&*+C%
MHI"<#)INUGY8X'H*!#BRCJ0/QH#`]"#2!%7HH%*0#U`H`6BDZ'%#,%!).`*8
M`S!1DT`Y`/K42J97\QONC[HJ:DG<;"BBD)YP.M,0M)FC'XTI.!DT`)GV-&10
MI##(Z4,0!\Q&*`%HI@.U@/X6Z>U/H`****`"BBB@!KML7/7T'K35CR=TG+>G
M84I&9![#-/I;C$)`Q[TR60H`%&6/04]V"J6/:HD_UF]_O-T'H*3?0$.B0HO(
MRQY)]:?N/]TTWS5VENW\Z8&;.,_.W;^[1=(!WFAG"A3GOGM3\@]"*:I15X/&
M?SH\Q"0.I/:G<!])D9QGFDVJ3T%!(0<8H$#L`RCJ<U"X,L@0]!RW^%+NQENK
M'IGTI8V5`%4%BW?UJ7J5L3#@8%%,\U,L,].M`E1BH!SFJNB;#STI`,"D,B@$
MYZ4%QN"]SVHN`ZH<F5^/NC]:5\R'8IPO\1IX"HN!P!2W'L!(1:15.=S_`'OY
M4T'+!FX[*/ZTXC<2"W3J!0`C,&D`SPO)-/!R`?6H0J8R3A,\<]:D!4DX)XZG
M-"8,?13`PR?F/'6A9$/1J=Q6'T4BD,,CI13`",D'N*"2!VQZTM1OF1MO8=:3
M`:H,I#$_*.F>]#0L<_-R3^E3````=!12L.Y"+?YLD\#H!2F(X;!QNZ_2I:*?
M*@NR,1G=G/;`]J$BV?7UJ2D)YP.M%D%QI?LH/Y4GSD85<#U-2=**+"(C#P.<
MGN3WH6(C<=V2>A]*EHHLAW(1;@*`3U.6]Z7RB"VU@,]..@J6BERH+LA$)&WD
M$*.![^M`B8(<$;B.6J:BGRH+C57:H'0"D(,AY^[Z>M#$*0,$D]*>.10!&R,7
MW`C@<4TQML"C'7YN>M3446"Y')%OP.@`IGE/@`8"]>O4U/11RH+D)B+(%)Z]
M<=Z/(P#CKT^@J:BERH+L0#_]5%+15""D50HXI:*`"BBB@`HHHH`*0#!)]:6B
M@`HHHH`****`"BDYSTH/`R>?:@!DCG(1.I[^@IW")R>`.II`-H9SRU-P9,`\
M]S[>U2,(]S$R'C/3Z5(2%!)/%+3)&P-H&6/04]D&X(6))/"GIFD+%F(3@#JU
M.((CVKUQBDV?($'"_P`Z6H"H=R`C/([TZ@#`P**H04444`%%%%`!1110`444
M4`%%%%`!1110`4444`%%%%`!1110`4444`%(`!110`M%%%`!1110`4444`%%
%%%`'_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>highincomex5x1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 highincomex5x1.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#`!`+#`X,"A`.#0X2$1`3&"@:&!86
M&#$C)1TH.C,]/#DS.#=`2%Q.0$1713<X4&U15U]B9VAG/DUQ>7!D>%QE9V/_
MVP!#`1$2$A@5&"\:&B]C0CA"8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C
M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V/_P``1"`':`B4#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#T"H9[J*W9
M%D+`N<+A"<G\!4U9^I[C/8[2`?/X)&?X30!<BGCF#>6V2IPP(((/N#4E8Z7#
M6T5[(%W7/GJCL>AS@`X[#!J>2>[C0J5#MYG1"I?9C/3IG/Z4`:-%9<-U//=1
M1K,%5H"Y)3!W`XZ'I4<.H7=TB^4BH_D"0[N`22?TX_6@#8ILCK%&SNP55&23
MV%41=3RR3>6400NBX8\$$`DY_'BJ=UN_LK4LRDXD?`..F10!L0S1SH6C)(#%
M3D$8(ZTR2[ACE:)V8.J&0@(3\H[].>M02SR17,D9D&U;<R9('!!JFLK3S12O
MC<^GLQQZDK0!KQ2+-$DJ'*.H93Z@T^LE+B2UT[3Y=V(#&BR8&2,KP?SX_&K<
M_P!J33RT;`W"KNQ@8)[B@"W16:+V218'C8F.XE"(Q`^48R3]<@B@7DV0I(^6
MZ\DG'WAZ_6@#2HK)>^N,2".1<K=K`"5R,''7\Z?/<W-M(JR,7157?)&@(!).
M=PSD#'I0!IT4T.K,RA@67J`>13J`"BBB@`HHHH`****`"BBB@`HHHH`****`
M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`I*6DH`*:\BQKN<[14%[>):
MQY;[QZ#-<Y<74UW(22=N>!2;L-1;-FXUJ&$D*I<_6JI\0E>3"/\`OK_ZU930
M8&2:JRQ8Z&L_:&JI&\OB:+^*''_`_P#ZU6(O$%H[`29C]STKB9U92>351IF4
M]::G<3IV/5(I4FC#QL&4]Q3Q7G>A:V]A<88YB/4$]*[RROH+V(20.&'?VJT9
MM6+-%)FEIB"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`J*2"&9E:6)'*
M]"PSBI:*`(S!$S,S1H2XPQ(ZCWI/LT&P+Y28!R!CH?6I:*`*+V(>_65HXC"L
M7EA3U'.>F/PJR\$,FW?$C;>!E>E2T4`1M#$T@D:-2XZ,1S36M;=]^Z&-MYRV
M5'S?6IJ*`(GMH'V[XD;:,#*]!Z4P65J,8MXN!M'RCIZ58JA!J]M/J,EDHD$B
M$@,RX5R.H![D4`3O;\1Q1K&MNO)4#G@@@#MBI)?,V?N=F_(^]TJ2B@")8(U@
M6$J&10``1Z4&"%HO+,2%,YVXXSUS4M%`%?[%:_\`/O%US]P=?6I&@B9][1J6
M]2.:DHH`B2!$GDE50'DQD@8SBI:**`"BBB@`HHHH`****`"BBB@!****`%I*
M**`"BBB@`I:2EH`****`"BBB@`HHHH`****`$HHHH`*@N[A;>$N>O:IZP=9G
M,DPC3IG%)Z#2NS/>22\N&=SE<U82(`<4D$84#%6`O%8-W.F*2(&7(JI,@]*T
M"*KRIU-38M,Q[J/K65.I&:W+E<YK*NH\`T(;,_;W/:M+2=4ETZY69.4SAU]1
M5`CBD0>@YK2+,I1NCU>SN8[NVCGB(*N,U-7#>$]4:UN1:RG]U(3CGH:[D5JF
M<[5A:***8@HHHH`****`"BBB@`HHHH`****`"BBB@`K-U^TFO-*DCM]QD4AP
M@8KOP<E<CU%:5%`&'HURT1AC\][FSN@3;22'+HP!)C8]^`<?0CM6Y7/:WIOV
M.SN+ZQEDA,;BX:)0"NX'E@".#C.>QJV6GL)8+@WDES:3$))YH7*$_=8$`<9P
M"/?-`&M1110`4444`%8D=L;ZQO8X7,=Q%=R-%)_=<'(_#G!]B:U;JX2TMI)Y
M0Q2,;FVJ6./H*HZ0ZF]U-$;<IG656!X(:-?Z@T`6]/NOMEG',5V.<JZ?W6!P
MP_`@U9K,M@UMKMU`/]3<1BX4>C9VM^?RG\Z<^KK#(4GLKZ(`GY_(+K]<IF@#
M1HK"TWQ197:S_:'%L\4A78^<E>QZ?I6M:727D/FQ+($R0"Z%=WN`><4`3T44
M4`%%%-9T4X9@#UY-`#J*K2ZA90_ZZ\MX_P#?E4?UHMM0LKMREM=V\S@9*QR!
MB!Z\&@"S1110`4444`%%)10`44C,`I)X`KEM<U]V5X+5>`<%]U)NPTKF]<ZG
M:6IQ+,H([9YJL/$.GDG$I/X5P<_[\<%C(>H:HX7`8Q7'RX'TJ>8KE/09?$.F
M1`;[I`2,XR,TZVU_3;EML5RF?<UYO<W5M%^ZR6!XSFH0$XDA;<,<T[ARGKT<
MB2+NC8,/44ZO)M.UZ[TJ<>6Y\HGE2>#7H^BZS;ZM;"2(C?CYEST-.Y-C3HI,
MTM,04444`%%%%`!1110`E%%%`"'@$^U<Y<#-RS>I-=%+_JW_`-TUSS<D9]>M
M3/8TI[CHQ@5-VIBBGE@.#UK!&[(VJ"884U,[``UGWEVJ(2><4%(BE'![UE7@
M.2"*5]1N)3^ZB^7US5>269S\R\TK!<@E7`J%3\U.>3KD\U&'4'.:M"994F.1
M''8@YKT_3Y#-802-U*`G\J\G^TJQQFO3?#LOG:);..?E(_(D5K$YYKJC3I:2
MEJC,****`"BBB@`HHHH`****`"BBB@`HHHH`****`&R(LL;1N,JP*D>H-9FE
M1B\\.Q6UP-P\HV[^Y7*$_I6E+O\`*?RMOF;3MW=,]L^U8EEI>H:6HGAE6XEF
M9GNX2VU78DG<GH><>A]J`-#29Y)+9H;ALW-LWE2G^\0.&_$$'\:O5FVRW7GW
MEVUJ(FDC54A,@)9EW<DC@9R!^%1Q7.M20A&T^WBGSS(TV8P/4`<GZ<?6@#6H
MK)F;7887=5L+@JI(55="?8<FM"SN4O+2&YCSLE0,,]LT`/E9DB9HT\QP.%!Q
MD^F:Y/3)[W3?$$UFUBQ\V$&%/-7A%9B,GVW$?0"NM1TD7<C!ADC(]0<']165
MX@(MDM-1"%GM9USM&3L;Y6'Z@_@*`)[:WDCN9]1OF17:,*$4Y6)!SU[G/)/^
M%78Y$EC62-@Z.`RL#D$'H:5E5U*L`RD8((R"*Q+/2M4LXV@M]0CBMXF/D(8M
MY*DD@,3V&<<>E`$,5U!9^,;Q"-B7"1JTA.%\T`D`^Y4UL-J=@CA&OK96/13*
MH/\`.J>E:?*8+IM5@@>6XN#*4P'4#``Z^P_6KZV-HHPMK`![1B@"2*:*==T,
MJ2#U1@:DJC+H^G2MN>R@W_WE0*WYCFH_["L0>!<`>@NI0/\`T*@"W=7=M9Q^
M9=3QPKV+L!FLXOHFLW*K)'#/-M^7S(B"5'H2.1SVJY;:98VK;X;:,/\`WR-S
M?]]'FB:WDGU*WD90L5MN<-GEF(*XQZ`$_I0!RMM=6VB:X^FR64'V>//[]HQN
M!8[DRWI@A:V_#E]=3P^1J*@77EK,K*H`=&''3N.A_"H-0T:YGN[N62&&[CN8
MA%A7\IT`.0>003TYXZ=*?.-4^TV<L&EJOV;*G_2%^9",%>GK@_A0!OT5!:2S
MS1%KFV-N^<;"X;CUR*GH`****`$J&[N$M;=YY3A$&2:F[US?BN9Y3%8Q]'.Y
MSZ"D]!I7,C4?%,]W,8[="D#<#GEJSA'/&WFX)7.2F*L_V?.V4MT`QQN/>KUA
MIUU$")W!%9.1NHF'+'*\GG1@X/8CD4CQ22QE""">Y%=2UJH3`%5Q:$MR*GF*
M43E6TEB!M_'BFKI4T#[E.%/48KL3;JB\BJ-P`3M`I<['R)G+WD&U0#UIFF7L
M^F7B7$3'"GYO0BM:\@7)SWJH-/41LW!^M7&1G*!Z?IE['J%C%<1,"&'.#T-6
MZ\S\,:N='OS#)S;2''7[M>E(RNBLIRI&0?6M48M6'T4E+3$%%%%`!1110`44
M44`-894CUKFYI%621'."K'K]:Z6N;UFTC?4,NAP5!!%3+8TI[E6YD:0<2^4H
MZM6/+>6]O<`/-)(Q]*U;BP#[<$A<YILFD6N\2``S8QQ6*9OU"RODG`4*Q)Z"
ML?6+B07!0J$'IG.:Z"&Q2&575<%5Q7/:W"/M)+D\G.#2OJ6BS&LDEFS1L0Y7
M"[:R38W@3=-*2WN:TM+C`CS&6QWQ5F1(0"9/,/UI\PN4P5C)&77D5&P^88`Z
MUI7$D0)51@8K./7Z'-+4+"2Q*K;B.:[WP1="?1?+Z>4Q7]<UP-Q+ND`QPW%=
MIX`B=+"X<_=:0XK2.YE424#K:6DI:U.<****`"BBB@`HHHH`****`"BBB@`H
MHHH`****`"BBB@`HHHH`*YVQEEP^C6A8-%-()9?^>418D8/]X@X'IR>U;UP9
M5MY3`H:4(2BL<`MC@'\:S?#FGW&GZ>XO7#W,\AEE.<\D#O\`A0!I0Q1P0I%$
M@2-!M51V%/I:*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@!*Y;5@)];
MDB!^Z`?T%=37,W10:C+)CYB<9J)[%PW)T7``[5,JTQ.<5*.!6)N1R+BHF^[3
MYF.*C7)%(:*]R=J\51*[FS5RY.#50G&<FD:&=J`P:IH^Z-DS5K4#D\<UF[MK
MCZTTQ25T13KU/?M7H/@V_>^T5!(<O"=AK@Y<$FNF^'[;7NH\_P"UC\JWB<TS
MM:6DI:LR"BBB@`HHHH`****`$K*UL%4CD';BM:J][")[9T[XXI-71479F!&=
M\>*E".5Y<`#T%5H\J6!&"&P:=<S,L!`/)X%<YUI"B9%#%FX]3WKG-=NXM^0"
MU;K6$,T<7F;MRC)Q6?=Z3#+(ZKN!'2A#,.UU`VTJO']T_>6MV2=;BW#KT8=/
M2LAK!86;)Z>M6[`;R8T/'I0P*%P/WE0$<UH:C`8I*H,>*$(C\DS.@7ELX`KT
M_0+'^S])@A/W\9;\>?ZUP/A]!+KENA'\6?TKU#%:P1SU7K8*6DI:T,@HHHH`
M****`"BBB@`HHHH`****`"BBB@`IKNL:EG8*HZDG`IU4+QF.JV"'_5G>V.Q8
M#C^M`%R.6.7/ENK8ZX.<4^L^XO8+:6=E1VG`16&"`<DA?YFE-[*I2-X=LDDO
MEH2,`C&<X_`\4`7Z*SI-0D6,[8U,BW`@8$\'.,$?G23W\\&4>)/-6,-M!/[P
MDXPO^>]`&E44MQ#"0)9HT)Z!F`S507TS3/&L&\Q,J2;>G(!)!]L_C1J9(GL2
MHR?/Z9Q_":`+R2)(NZ-U=?53D4ZLW;+9W+SMM/VJ9$*`G"C&,_6FS7<[L%0J
MA2[6(D?Q#&?ZT`:E%9MQ?SQ2785(V6VC5R22-V<\?I3K[4&M02J!@L?F'OWZ
M<=/KTH`T**S;B_GBDNPL<96V19,DG)SGC].M3P74CW9@D11^Z648/3)(P?RH
M`L22QPIOE=47U8X%,%U;LRJ)XBS?=`<9/TJ'5O\`D%77_7)OY5!_S$[#_K@_
M_LM`%Z.>&5BL<L;LO4*P)%2U0L/^/[4/^NJ_^@BK]`!1110`4444`%%%%`"9
MKDKV4'49@>,2`5UN*X_Q-$T&IB6W(+.NYE/M4RV+AN:D0QBI<KT)&:Y6SUJ:
M^=O-!MXD.W@Y)(Z\TRZN?,20P`%5ZL_-8V.A*YU$A4C%0O(L2$FN-L9;N5RT
M,N`1T4<'\*GDU'4[BV:)+4-LR&8'T-*P[6-BYNH@Y+L`![U2FU6VZ*X./>N?
M^USRX#C#$D$5,VGS.D3QC<6Z^U/E!R[%N>^@FR$D4D^]5))%7KTIS:<SYCD&
M<C@U6M[01Q$ODD,0/SH25@N[D$ERS2_)TKJ?`C;M5=LXS&01[USDZ!L``?2G
M*[VA$L;'>,<U:=C)P;9[%16=H%RUYH]O._WBN#^!Q6C6I@]!:***`"BBB@`H
MHHH`*0TM)0!@ZI#Y-T7`^5_YU1="S+C[H.370:E;F:V)4?.O(K`W<,#QVQ6$
MU9W.FG*Z(Q=M(S"%"P!QGM3)?-VEF=8R1C`&:NQ(!&,`<TR6!#\S5)JCF[NV
M,CG:SM[]JLZ/;):2&5\Y/K6A.$3[N*R[F\V'`Z4BANM29F.#P:RF.!4MQ.97
MR:KN>M40:'ALG_A(;?;ZG^1KU&O-O!84Z_&6[`X_(UZ0*VCL<U3XA:6BBJ,P
MHHHH`****`"BBB@`HHHH`****`"BBB@`J.6%)E`<9P<@@X(/J#4E5;NZ>WE@
M1(E?SGV`E\8."?0^E`#OL<!60,FXR8WEB23CIS[4IM(BN&#$[@VXL2P([YIM
MM=>=--"R;)82-P!R.1D$&K-`%9[&!T5"K85_,X8@ENN2>]07-M))=L^)P"@5
M3#+M!Z_>Y]ZT*CC=GBW&,HW/RL?\*`(DM$PK2Y:4A?,()`<@=2*=/:Q7#HTF
M[,9RN&(P?PHLK@W5L)2@0EF&`<]&(_I4]`$4T$<Z!9`2%8,"#@@CH:A73K95
M8!6&YQ(?G/WO7K5AI$61$9@&?.T>N*?0!5>PMW\W<K?OE"O\YY`Z#K1+I]M-
MNWJQW($;YS\P'3//-+=W)@,:1Q^9+*2$7.,X!/7\*E,H78K8$C@[5)ZD#UH`
MA.GV["4%7/FJ%?,C<@=.]#V,+%VPQ9H_+.7;E?3K3[.<W-JDQ786SQG..<5/
M0!7-K&]F+:0LR!0I^8C(Q0+*$2QR_/OC&U27/`_.F3W<D5Y'`L2$.C-N:3&,
M8SV]ZEMY'E0F2,(P8C`;<#[@X%`!#:Q02221AMTARV6)R?QJ:BD.<'')[9H`
M6BH+*X-U;"4H$)9A@'/1B/Z5/0`4444`%%%%`#:YS7%8ZD@\O[PR'],#_P"M
M725GZK$&5),<@_E4SV-*32EJ<WIT",]S`R_Q[OS&?ZU8%C&@=-@*&D\F3SA-
M"P$JDY!Z,/2I?M;!CYUK-N/9%W"L$=!!'8K$Q*J%5><"FV4(@T^>3O*['\,D
M58=Y+C""-HD)YW]3^%+?;8K4@$!0,4;#6IQ,4:MJ;Q=-S$J?UKI(T,<('3BL
M"XP9]P/`.01VK7M+BYEMAY;QRX]?E(_G0P5TQ_EJA+DC(Z5C2'Y6'JQ/ZU;N
MI[A&82``'L*HEBW-(=B(J02P[5"K&964@<G^M6G#>6VWJ>*33;/S-1@B09W.
M-U6A/0].T2#[-H]K%Z1@_GS5\4V-1'&J#HH`IU;G$]Q:***`"BBB@`HHHH`*
M2EI*``UC:KIQ):X@Z]67UK9Q1C-)JZU'%N+T.02^CSM+<CC&:@NK^./^(4W6
M+<6^I3*RY!.X?CS6?-"K0L54<5S[,[$[HCNM2:3@=*H2/N!)IDO#!:5E)7VJ
MF@U(\[J8YYQ3FX.!5ZQL=Q$DHXZ@4TKDN5B;3(I;5/M$9VS8)4^E;.@^-3+=
MBQU1%23.!*IX/X50GD\N(GI@5QEZ^^[D?U-:(YI.[/=E8,`0<@C(-**\_P#"
M7C**&".QU$D;?E27/'L#7?12)+&LD;!E89!'>J)'T4E+0`4444`%%%%`!111
M0`4444`%%%%`!6=J@+368`D(67<Q12<#!]*T:*`,S4;=(XHO*23<UPC.R[BV
M,\DGKTIEQ;,LYBW2K;B(",H"Q#9.>>QZ5K44`93+,+_?@NNX;E9""HVX)!'!
M'MZU#:"39:^>DODJ90RE6SNW97(Z].E;=%`&#;1S?9[9'$J0@RAP4)(8L2,C
MZ'K4WE$WD8D$[HMJ02RGYCD8SCOBMBB@#'B5F33))HY&94*N2I)!V]_QJW=A
MC>0%U+6VUMP`R-W&,C\ZNT4`8R1RF33?M".S*SY)4DA2#MR?RJU?*!>VDK1L
MZIOR54MCCCI5^B@#$LT:+[`0DP8NXDRK<`YP#[9Q4]M',;K=,\HE$S'`7@KV
MR?3&/QK4HH`R[^$7&I0(PE">4ZED#``G&.13KD-%=-\DC(UL5&U206!_G6E1
M0!C(K2)I0D24X7$ORM_=[_C26PDS")EE-NK2@@JW!S\O'7ITK:HH`P(HYOL$
M*J'5D\W*2QL0<MD<CD-CH?<UN1$F)"R[6VC(SG%/HH`****`"BBB@!*BND\R
M!E]JEI#R,&EN"=F8,R!%##UJ.2YVKQU-7KRUF&[RP&4\UGA0`3T(KGDFF=<9
M70V*$ONDEX9Q@>HJCJ=A<-;>7%*6(_O=ZL_:KD[RD(P#QEL?TILES<K$S_9@
MS>QH+29Q[:?=(Y!4YSS5VQ62W?'Z5;GN[T`DP*N>>M9Z3W,ER,QC&?6AC:L6
M+LM(215(@C%:MQ%Y=IO;J3Q662,#\:2"XQR2RH!DL<`5V7A+0WMF-[=(5=AA
M%(Y%<=;EVO;?8,L)5P/QKUF//E)D8.!D5M!7U,*LFM!]%':BM#G%HHHH`***
M*`"BBB@`HHHH`*2@]*SM6UFRTB$R7<H4_P`*9Y:@#.\41Q[XG+#>W&.^*PI,
M):O]*=I5\WB+6KJ]="L*IY<:GMTYI]U;/;2F-N1V/M6,X]3II25K,Q(;4NYE
M?H*5XRY`4<MP!6F(FN66"-<LQ_*N@T_1X;8!S\TF.6(I1394YI&'IGAX\2W&
M<]ABK\]F(LC&`*Z`(%7I6??+DG`K9)(YG)MW9RNI1EHV4<`#)-<;,,RL1TS7
M;>)YEM+'R5_ULV/P%<4R\X%`B*MS0O$]]HK!4/FP=XF/'X5DA.*`OSX]J8CV
M#0?$5GK4*F)MDW\41/(K8KPJ-GBE#QL48=P<&NFTCQO?V6Q+M1=1CC);##\>
M<T`>GTM86E^*],U+:BR^5*?^6;G!K<4@@$=*`%HHHH`****`"BBB@`HHHH`*
M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH
MHH`2BEHH`0@$8(K"OX#;S$_P-T/I6[44\*SQE'Z&IE&Z*C+E9A(/DXJ*82?P
MCBI"3;W#0/U4\'UITLB@>]8;:'4GU,.^BE?.#Q52W@:-@2/QK7O)8U7+&L.[
MORP9$X%)E7':E=AT6,'H:S&.%I"><GDTUVXJK"1-8W`MKV&8]$<$UZE8WD5]
M:K<0-E&'Y5Y)WQW-:EOJ<_A^XLY@Q,3<2IZ@YK2!C61ZA15>RO(;ZTCN+=@T
M;C(YJP#FM#`6BBB@`HHI*`%HI*:[K&I9SA0,DGM0`ZHKBXCMH6EF<)&O5F.`
M*Y37?'=K9;H;!/M$PXW;L*O^->?ZIK%[JLQDNYBWHO84`=IK_CY4WV^EIN;I
MYY/'X#_Z]<'<W,UW.TUQ(TDC'))J&I((S-,D:]78+0!W_@>$0:.T[C`D8MGV
M'']*34O$'VAFAMX1L4XW,>M5]4O/L6G0:7;_`'BH$A';UK%N9!!&(U.21S[5
M25]P3['2Z'K=K;R^3<J%9S_K/2NN1E900<@C(([BO(K*"34;Q;>/G/WF/.!7
MHFE2+86,4+$E%XR?K3Y.PG/4V6/&:I2*"S,Y^51DGTJWN#H"#P>E8'BV^-GI
MCQH</)@'!Z"HMJ,XKQ#>F^U.9P?D4[5^@K)7K4[#-1E<&F``TAXE^HIRTU^)
M%]:0#B,4TBI2*:10!%BMG1_%&HZ0P5',T(_Y9N>*R<4TB@#U/1O&5AJ6V.4_
M99S_``NV03[&NBW`@$'((S7@Q&,ULZ/XJU'22JK(98!_RR<\?AZ4`>PTM8?A
M_P`36>N1A8_W<X&6B)R?PK;S0`M%)2T`%%%%`!1110`4444`%%9]YK%K:2^0
M"\]R>D$"[W_'T_'%5O)UG4/^/B9--A/\$!#RGZL>!^`H`TYKJWMR!//%$3T#
MN!G\ZFKG=9T33K70KZ7R!),(6;SICO<MCKN/OZ5MV>?L4&[.?+7.?I0!/111
M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`"44M%`&)K<'S+,!U
MX)KG[L3A<H_3UKL;^+S;5AW'(K`\L$%6'-936IT4W='+3RSN=LE5F&!717=B
MG)Z5ASPD,5'K4W-"FQPU1N><5:^RMR>3[>M7[70GV+<3C:I^ZN*:5P<N5:E3
M3;0NPE<'`Z>]4?$EP)+I8A_`.:Z611!$QQ@**X:[D,US)(W\3&M4K'+*5S9\
M+>(Y=$NE5\O:N<.N>GO7K-I<Q7=M'<0N&CD&017A*J6Z#-:^CZYJ.DN%M9B(
M^IC;E33)/9:*Y#2?'=I<;8[^,V\AX+9RIKJX)XKB,20N'4C((H`EI**#0!C^
M(]>AT.R,KC?*WW(\XS7ENK:_?ZM*S3S,(R>(U/`JUXSU)M0U^?G]W$=BCZ#G
M]:P:`"BBB@`K6\.Q%]1WJ/FC4E?8XQ6370>'L0V5Q-CYC\J_I3BKL3+.I7!4
M;%.X[N3ZGO6?J,?RY']T<U;9"\X/3O[TV\4,AXQ@<U8&OX6MT32C*@RSG!/X
MUMJIE=%/W(^OO6+X2<G3'ST5CBMZV&%8^M:+8R>Y8@N665@!E%X_&N)\6WOV
MK4VC4_+'@'!ZFNIO;E+&SDD/5!GZD_\`ZZ\\GD:69Y&/+DL?QK.6A<1O'6BD
MI?:H+(W?!VI]XT](@G+<M2.G\0ZBG+)O&#P118!3C`%(:6C%(!N*:14F*1AQ
M0!"RGM3=JIDGDU,QP*K,V30`Z&XD@G2:%RDB'*D=0:]-\'>*?[706EWA;I!P
M0?OBO+:L6%W)87L5S$2'C;/U%`'NPZTM5-,NUO\`3[>Z7I*@/XU;H`****`"
MBBF2RI!"\LK!(T4LS'H`.IH`;<W,-I`T]Q(L<2#)9CP*RS_:&KX*M)I]B>O:
M:4?^R#]?I186[ZG+'J=^N%^]:VYZ1CLQ]6/Z5LT`5K*QMK"+RK6%8U/)QU8^
MI/4_C5FBB@#&\3'S[6WTX<M?3K&?9`=S'\A^M;`&!@5BZ<?[3UJ?4>MO;@V]
MM[G^-OSX_"FZAXMTFPN/(:5IG&=WE#<%([$^O;^>*`-VBJVGW,EW9QSRV[6[
M.,^6YR0.V:LT`%%5+_4;73HP]S)M+'"(!EG/H!U-1:;J%Q>RRK-IT]HB@%&E
M(^;/MV-`&A1574+);^U,+22Q'(97B;:RD="#6>D'B*W&U+RQNE'1IXV1O_'>
M*`-JBN1EU/Q%=7ILK![&1T.)98$8I$?0LW&?8"M73-&^PS&_O[Z6ZNMIW2.V
M$0=\#TH`U9YHK>%IIY%CC099F.`*BL;ZVU"`SVDADCW;=VTKD^V1S]:Q[6$^
M(KH7UVA_LZ)L6L#=)"/XV'?V'^3T`````P!0`M%%(6`(!(R>@]:`%HHHH`**
M**`"BDS3)9HX$+RL$4=2>E`#Z*YK4/&FGVQ9(%:X<>AP/SKFK_Q;J=YN6,K;
MQGIM//YT`=Y>ZE:VC+'/*JNY"A>YS5&[AV2DCH>17GU@[S:M;R2L7;S%R6//
M6O5)XT>`[V``'WC2DKE0ERLYB]8E"%'/>J<=FTA`"DENE;#QQRS*J2(VXX!!
MZUL6EE';(.[]S62C=G0ZBBC,L-%2$++.`TG9<<"EO(LMSC-:=S<)$I`ZUC3S
M%FR>E:I6.>4G+<Y_Q')]GL2@/S2''X5QACW/TK?URY^U7;@?=3@5F!.<TQ,C
M2,4A7$ZCU%65`J&<;71O0T"%:/`]*L:?J5YIDH>UF:/'49X-(PS4+KZ4`=SI
M7CJ.552_@*'IYB'(K;NM<LWTJXN+:X1RD9(`;G->4!<'-'8_K[T`4II&FFDE
M;[SL6/XFF5:>!&^[\IJ"2-HS@T`,HHHH`*Z6UC\C3K>-N"WSG]:Y^VC\VYC0
M=V`KK+H;9P@(Q&@`S]!5Q$1!>Y-5[O\`U+MDD!>]6L#&"<55OVQ:2`'.1C]:
ML#:\,1>7H<9_YZ,3^IK>0!(2?J:S](MS%I]I%Z)D_CS_`%JSJ<XM[%F)JC)[
MG->)KXD);*>IW-7.&I[N8SW+R,<Y/Z5!6,G=FJ5A11WI.M+VI#!C@9S4,1WS
M%NPHN'Q\@I]NN$SZT`29S12T@]*0"CF@TU3C-+U&:`(I/2JS=:L/UJ!NM`#:
M***`/4OAS=F?0C`3_J'('XG/]:ZVO-_AG=;+^YMB>'3</KQ7H]`"T4E%`"U5
MU.T^WZ;<6@;898RH;T-6J*`,O3-4C=5M+H?9KR,!6BDXW8[J>X^E:E5[NRMK
MZ+RKN".9.P=<X^GI5/\`L.!%"VMU>VJCH(KAB!^#9%`&I6/X@O62)+"WD"7-
MUD;R<"*,#YG/I@?K4>IO<:38O<SZQ)Y:#`#0H68]AT%<M:3F^OG?699U,T:L
M\2KA[@<[40`9V]SZ_K0`FJ:I]IM6L].<Q:9:@1(`VTSM_,^N/Q-/TF'3[=CJ
M.I0^3!98BCB89>67`))'MQQT'YYZ?1]$BBN&U&XM((;AP!'$BC$*CH/=O4U<
MBT6PBU&6_6`&XD.=S<A3C!(';-`%R":.X@2:%P\;J&5AW%9VJ:G+%<)8:?&)
MKZ5=PW?<B7^\W^%7[:U@M(S';Q+$A8MM48&3UK(;2-174KR6WO8H8;IE9I/+
MW3#`QM&>,4`1%M-T*;[3J5RUUJ,@^9RNYE'?"C[JUT",KH'4@JPR".XJA;Z+
M8V]K-!Y1D\]2LTDC$O)GKENM78(8[>!(85VQQJ%5?0"@"2L34KBXU"];2;"0
MQ!5#75P.L:GHJ_[1_2MNLW0K.2SL76X3%Q),[RMD'>2QP?RQ0!1U,)H$>FR6
MV8K&"4K,B=6#+C)'\6.M1:SJEKJ1@TZWO(A;3+YMU,)!A8AVSV)/%:&O"\\N
MS:QMOM$B7*L5W!1C#=3V[5!IWAJSB!GOX(;B\D;S';9\JGT`Z8%`$MAKVE2:
M:LZ3);0)E%61@IP.!@9J+3-:GUC42;*$#38LAYI`0TC=MH_QJ[#HNF02B6*P
MMU<'(;RQD'VJC;Z#=6D7V6TU:2"RW$B-85WJ"<D!_P#ZU`#O$-S"?L]JB27%
MV)5ECMXC]XKT+GLN>?PI^FZ.Z79U'4Y1<7[9VX^Y"/11_7_)N:?IEKIR,+=#
MO<Y>1SN=SZDGK5R@`HHHH`2AF"J6)P!U-(S!5+$X`&37GGBCQ%+?SR6=J2EL
MIPS`\M0!MZSXRMK(M%9@7$O3(;"@UQ=_J5YJDI>ZE8J>B#@"JJJ!U%+U-`"`
M8_PI">W4THY)IP'<T`/MU<2IMY<L,?G71^);J=I+>WN2ZP(JAD4]3MS6?X:M
MA=:W;JPRJY8_@#C]<5T?C:W0V'G$8.5_F*!IV=SC5F2"[6:W4@JV1SSQ7HEI
MJRWFG13)P67GGH>E>9W%V<%(0$7N:W_!+32M-!M)BQN#GU]*25C2I-RW1T\C
M-)SZU4UG_0=+DF<X9OE4>I-;MK:*N';KZ5QWC6^\Z_6UC/R0]?KU_K3,CF3R
M2?4\TF*=_6@]30`AX&<5!<D;,,<'M3;BX(;RXE^8]Z6"V.[S)CEO2@">,YA4
MGKB@CBG'I24`1%::PQ4V.:C<XR:`(RN.6X%5I73)"@T^7=(>N!59A@XH`#[4
ME**2@#6\.VIFU!92/DBR3^5:\DF^XD;`(+''TJEHK_9]/DDQU_7M0D@ZXK1:
M(DO?PY(%5KH!O+CX!:11CVS3@X...*C9P+NW&./,%4-G;6Z;4`_NJ%KG_%UY
MM"P*>N,BNBC8"$,3QC)K@=9NOM6HROGY0<"B3LC-*[,\^U*!0*4"LC0,4C-Y
M:%C^%.JK</N?:O04#&H#)*,]S5P<'%5HDVX;O5GT-(!#QFD[9I6J)WVK0`%O
MG`]:E;"C%5K<%YLGH*GD/)Q0!$]0-UJ=AFH7ZT`-HHHH`V_!UU]E\2VCDX!)
M4_B#7L=>$Z<YCU&V<'!$JG]:]TC;?$C>J@T`.HHHH`6BBB@`JO?7D&GVDES<
MN$B09)]?8>]6*QFT>:]U8W>IRK)!"W^C6Z_='^TWJ:`*UGI\NN7,>IZM'MA7
MFVM&Z*/[S>I/I70;5W!MHW`8SCFG44`%%%%`!1110`4444`%%%%`!1110`44
M44`%%%%`!24M(:`.>\8ZDUCI9BC)$DYVYST'4_RQ7G2\#GJ:V/%E_)=ZO,"?
MW<1"(/3U_K60/:@`_E0*#1ZT`&.!2]J0G@"C/%`'3>!5SJD[?W8NOIR*O>-K
MP"&.VZF3!QZ]ZA\!PC;=7+=/N_R-9FJWT=UXCFFF;]S'\B#\*3=D:TE>1SFS
MS;MT''&17>>%VCCT:"*'_6&0[_UKB6"B^9P,*V<5N^$[HK?"+U<XI)W"I%IM
MGH%Y,+:QEG8X"+FO*KF8W%S),QY=BU=EXUOC'8);J>92,C/8?_JKB!5&0=!2
M-\H^M+G-(PYH`8\>Y`1PPZ4Z-MPYX8=13S@+\W:J\1,DY<?=''UH`GI.]+Q0
M>#0`C56E;&:FD;"^]5V&1S0!`[,W`J)A@XJPY"J<"J_4YH`2@T&B@#12Y$=D
MD><9ZTZ.?<?O50<YVCT%"L5Z&JN(V%D&``QIK/NO8%Q_$.:HQW!&`W%6K,^;
MJ$(ZX-4F#V.PU2\%OI$CCAMH4?C7"EBQ/J>:WO$5T##%`#WR:P5ZYHF]116@
MM.H`XS1TZYJ"B6TM6O;J.V0X:0XR!G%;%OX*NAJ4D$\RI$O_`"T"YW#'85O>
M#='2&S%Y,@,KDE3CI6]=JLBXR%=3E:0'`W'A"]$]PD#"1(<%6(QOX!X_.L0J
MT;M'(NUU."/2O7+8^:@.,.M<AXXTM(YH]1CPOF';(/4XZ_I0!R+X"\U2=B2:
MMW!`6J?4_6@"U;C;'GN:<XIR`*J^PILAR:`(W/%0/UJPW:H)/O4`,HHHH`D@
M.+B,^CC^=>YV)S96Y]8U/Z5X2IVL&'8YKVOP]=K>Z%9SKT,84_AQ_2@#2HHH
MH`6BBJFIW$MI8R3P[-T8SAP2#^HH`MT4P.%VH[KO/;IGZ"H(KDF[N(I60*A4
M(>F<C/K0!:HIAEC!P9$!!QC<.M/H`**IV%X;IIU9=IC?CW4C*G\:MG.#CK0`
MM%9B7MR=-NKDF+?"7"C8<';GKSWQ4PN)_(W9A+>3YF>>O^[GI^-`%VBL^.\F
M8Z<3LQ<IEQ@\'9NXYK0H`****`"BBB@`HHHH`****`$JKJ5TME837+'A%R/K
MT%6JY7QY>^7816JGYI6R?H/_`*XH`X2ZG:XG>5_O2.6-+CI49'S8I]``:.U!
M-%``:1N$-+2/]SZT`==HUP-.\%370^])N`'ONQ7)A65%=^=_.:W+UQ_PAUK`
M&P0Q8CU^8_XUEV[*\7D2=/X32-%>'O(JLI+9[@5H>%V(U:($<Y)_0U2=61F5
MNHJSH\OE--<=-BD#Z]*1I4:E&Z+7B2\^UZK(0<JGRC^M90'O2NY=R[=2<FD]
MZHYQQ]*.M)TH=Q'&6[T`5[ER[B!.IZGTJ95\M`@[5';Q[09'^\_/TJ4<T`+_
M`%J-CEPHI['`JO$VZ9W[#B@!['&341)J3:7/M2/@<4`59!P<U&,`4Z:3)(%-
MC0L<]J`&OUH'49I9>&P.U,H`<3\U`]:04HH$.!%7M(;%V6/4"J`/%6M/;89)
M/054=&!/J$_GWC'.0O%0K3`<DD]3S4@Z4F]1H4<TB3".Y0%=P!R1G%#L$0M^
M50PC.9">32`[)/')AA2*.P&$&T?O?_K56F\:SR,,6:@_]=/_`*U<T3VS3"?F
MZT`=*_C#4-O[I4B)[CFL35=4O;['VFX>0`Y`)Z4S/`XJK<MEJ`(22<9I8QEU
M`]:;4MN,RB@"U43]:D<\<5$>30`AJ.4<U+CBHY10!%1110`5Z5\-KWS-,EM"
M>86)`]B?\37FM=3\/;S[/XA6$GB="OX@9_I0!ZK1110`M9VLEY;22UCBD9Y5
M^4@<9R./\^E:-)0!F7-I._VQ`I8SLICDS]S&/RP1FH[NTFE_M`K;LS2HJQME
M><#Z\5K@@C(/%+0!C7%K-,VH/]F8M-"J1DE>N#GO]*T)S+]CPD;EV4+@$97/
M?KVJS10!G"WDM]3CEA21XGCV2$D?+C[O]:NQN[>9OB*;6(7D'</6I**`,9;%
MCIMVCV?[^1I"F0N3DG'.:>89S,K_`&=\"T:(\K][CW]JUJ*`,N*"=?[*!A;]
MPN).1\OR;?7UK4HI*`%HHHH`****`"BBB@`HHHH`2O-_&USYVN-'VA4+^8!K
MTBO)_$+EM;NRW7?0!0ZG-.I@Z@@\4^@`/:E---.(H`;WI),X`QWI>]+&0+J$
MG@;P30!/=ERZ(^0(U&!]1_\`7J/G&>GI5B_R;N1B<JQR*6ZECD@B"`AD7#<=
M\UF[W.Z"C*%AA_TF$X_UB#\ZKV[%+/9_?8D_G2HS(2R]:3.!@U:U.247!VZ#
M3R32KVI".:<!@"F0*.3S43@2RX_A3G\:>[;$/J>E(B;5`]>30`IY-*.*3H:8
MSXS0`RXDVH33+128LG^(YJ"Z<GY:F#E8$`Z[10!,7!8(G6JUS)M)7O5A`(86
ME;[U9KL7<L>]``BEW`]:N.!%"/6DLX3]\]JBNY=[[1T%`$#'))I***``4M)2
MT`*>E3(=EN?]HXJ"GN>57T%`B5>34J<BHH^U/<[(SZT#&2'S91&.@J4`#@=!
M4-M]YFJ7O0`UCAJ4D8]Z&7-,X#[:`)0V1524Y<U;8!8\U28Y)H`2I;?_`%GX
M5%3X3B04`6FZ5$:D?CBF4``IDGW:DZBHW^[0!#1110`5H:#<&VUNSE'&)`/S
MX_K6?3X7\N>-_P"ZP/ZT`>]@Y`([T5!I\GFZ?;2?WHE/Z44`6*H7KE]0L[9N
M8I-[,/[V!P/US5^H9[=9]A)*O&=R.O4&@"CJ%O%!)!-''\S3QC:H'OT],Y_2
MK*WP,$\C1-N@8JRKSD\'C\Z;)IXEF65[B4N"IXQCC..,>YH;3D9)E,LG[V02
M$\<$8]NG`ZT`1O?1S1HQ1CMN5B.Q^-W&#D=1S3UOW=Y@MLQ6%F5FW#&0`?ZT
MATQ26_?R_-*)C]W[PQ[>U2QV0C2X42N?/8LQ.."1CCCVH`BBU%I3"HMV!GC\
MQ,L.G'7TZTIU)#:0W"QMB521N.`,#.":='8+$T#+-)F&(Q+TZ<>WL*8FEQI'
M"BS2XB1D'3E3U[>W6@!?[1WO$L4+-YL/G*<XXXZ_G4RW<1L1>'*QF/S.>H&,
MU#%IRQ-&5GE)CA\E<[?N_E["IH[2-+$6C$O$$V?-U(_"@")[P[739LE,)E3G
M.1_B.*328E2PAD"X>6-&<YSN.T<T_P"PKR6D=G,?E!CC(7\JFMX1;V\<*L66
M-0H)ZX%`$M%%%`!1110`4444`%%%%`#3@=:\G\1RI+KEW+&/EW[?R&#7I^J3
MBWTVYE)QMC.#[UY&S&5F+=6R2?>@")<@C'0]*E[5#&61MA''8U.>E`#>]/[4
MP<M3^]`"#J*C8_OP*D':BWC62Z?<<!5R*+Z%05Y)%M/W\!C)RZ<@U!ZYYH5S
M'('';J*EN%&1,G*/U]J5KHWC>E-Q>S(50[&?^$'%19YJ9YF$/E?PYS5<<FA+
M0SJRO+0?GFG]J:HI)GV)QU/`IF0G^LF)[+4A--C7:@'?O0Q`%`#7?BJ[O1,Y
M[55=SB@!CG<Q-6K8;\,WW5XS5:)#)(JCN:OS;88O+2@""[F+G:/NBH[>$R.!
MVJ5("YR>]6P%MTX]*`([J000[%(SBLWJ:?-(99":=''A2QH`B;@TE*3DTE`!
M2TE%`"]Z4G+YIM*.M`%B/K4<S;WP*4MM3WI(5R2Q[4`31#:`M!/-`/-(3S0`
M\<BHS]\FGJ>*;W:@!6;*<FJS]:F>0`8Q4#')S0`E/B_U@IE.C.'%`%J3K3!V
MIS\TU10`['%12=*FQQ4,G2@"&BBB@`HHHH`]N\/-OT*R)_YXK_*BET!=FAV0
M_P"F*_RHH`T*0G`).>/09I:HW>[^T;/$A5?GS^5`%J&9)XEEB.4;H<8J2L?3
MYIHHK%2P*3.ZE<=`,D'/KQ4]O=7,\N_:JQ"5HR&/89`Q[YH`L3WUO;EQ*S#8
M`6(C8@9Z<@5)#/',7"%LH<,&4J1^=4]:4+I=P0.6VD_F*=>O,EW;I;NJ-.65
MBRYZ*2*`+]%9=S>3V\-\3(NZW52I*]21_C4EW=S0SC`;R0JEF4!MI)YW#KC'
MI0!H45D+<26UO=R*Q=OM)10W;)`S^M2R75U$4B95+23!%((R%QGGMGB@#2HK
M+FNKR.),J&8;]YBPQ&#P<>GKBM&-P\:N#D,`0?6@!]%%%`!1110`4444`%%%
M%`&!XTN/)T"5.\I51^8/]*\V%=E\0ISBV@!_VOYUQ(DP=K#\:`'GK3CTI@Y-
M/[4``ZT[O31UIW>@!,\&H[<YE<U(WW2:9:QGR7E[;L4F73=I*Y,1GH#G%26\
MH&8G^XWZ5)93QPO)Y@R"I`JJ1Z]ZE/6QUU8J:&RX0L!R*8HSS2OUQVH3KBK1
MPDB_RJ(*99=V?E7I3IWVJ%'WFXI5&Q`!0`I/-1M[TXM[5%(>*`(92`#55CDU
M),23BH:`+%B,SY]!5WRMS9-5;`<N?PJYNR<=*`'#"U0NYMS%15J5MH-4HXC*
MY)X&:`$AB+L">E37&$CQ4A9$PJ]:K7).10!!1110`4444`%*HR:2E'`H`5SD
MXJ=?E0#UJ",9;-2L>:`'CK1WI!UH)YH`44C'@GWHS3&;J*`(W.33:5CDTE`!
M2K]X4E`ZT`6VZ4@I3]T4)S0`[M4$O2K!'RU6EH`BHHHH`*?$NZ5%]6`IE26W
M_'S%_OC^=`'N.FIY>FVJCM$H_044^S_X\H/^N:_RHH`GJ.6&*;'FQJ^.FX9Q
M4E%`$"VELNS;!&-ARN%'RGVIXAB$OFB-0_\`>QS4E%`$<L,<R[98U=?1AD4A
MMX69&,2$Q_<)7[OTJ6B@"&2U@E8M)#&Y(P25!R*7[/"6#>4F0``=O8=*EHH`
MC\B'+GRD_>??^4?-]:3[/#Y9C\I-A.=N.,^M2T4`1&V@(4&%,*,#Y1Q4E+10
M`4444`%%%%`!1110`E%%!/'-`'G'C:X\W7FC[1*!^8!_K7..H=<XY[5HZ[<>
M?K5W(><R$?EQ_2J&1B@"./(.#4W:F`?-FG]J`$'WJ?3!]ZG]Q0`R0XB;Z4_2
MY`D6Q^4?_&H;MML+4MK_`,>J>O\`]>D7"'-=%J:/RI=N3@\BHW;CWJU&?M$'
ME-]].0:IR<9SUHL7[1J/*R(GFGQK@;C2*F>:KW<^%\I>IZFF8CXV\ZZ9OX5Z
M58[57LXRD.[NW-6&/%`##Q44S#;TJ1C4,O(H`J2'FHZ?(?FIE`%RU;9"Q'<U
M-&A8[V.!4%HNX8["I;J<1IY:=30!%<3`L1GBHO/;;M6FI&\E6X;4*`S<T`,M
MX"?G:HKHC?@5=E<1H:S'8LQ)H`2BBB@`HHHH`****`)81P33C21_=I2:`%4\
MT-3!]ZG`Y.*`&9-,/6GMPU,/>@!****`"BBB@"SG*"GITJ-?N"I`,+0`K\"J
MKG)-6)6PE53S0`E%%%`!4MH-UW"/611^M158T[_D(VV?^>J?S%`'N5JNVUA7
MT11^E%/C_P!6OT%%`#J**BN93#;NZKN<#Y5]6/`'YT`2T57M;I)[**X8A0ZC
M.3C![C\ZE\V/:6\Q<`X)ST-`#Z*A:7,L:H8V!)#?-R,#L.]16<\L_P!I#[-T
M4IC4@$`C`//YT`6Z*H)?NT$;&-=\DQAZ\#!//Z5/:SF?S0RX:*0H2.A]Q^=`
M%BBJUQ<,DRPQA?,92PWYP<=JB@OVNDC\B,!VB$I#'IGH/QYH`O4532^6=;?R
M`"TZEAN_A`ZY_E4?VVXEC9X(HL1[A*9'("D$@XP/;/XB@#0HJ.!G>!&E4([*
M"5!Z5)0`4444`%%%%`"5!?2B"QGE/\*$_I4]87C&Y^SZ!.,X,A51^8H`\VF<
MRR22'JS%OS-1$8`Q0LBDXI2/RH`-W-.#@J,TTC@FHL'-`%@'FGU$O%2^E`%6
M_;]V!ZU/:C_1XU')JI?MEP*OVK^28F*YV@$CUJ9&]#XAWS1/GHPJ-OF?/K4U
MU+Y\[2A=NX],YQ4$SB)"QZTT*M;FT(;J;R5*CJ:SN6?GJ32R.9'+&EB&95'O
M3,3608C4>@II.!2Y[4QJ`(I6/:F2\1@^U/?D&H)3F(&@"N3DTE%36J;YAGH.
M:`+$>8+?I\[4V.V+MOD/6K13<V6I2<"@!%14&!2.^!BFNPSUIA()H`@NFS@5
M6J6<'S":CH`2BE"DTE`!1110`4444`3+]RD!XH'^KIN:`'9IH;YJ;FC-`#GY
MYIIH)H-`"4444`%%%%`%J+!05)QMJHC[13A+B@!\V2.*AVX'-3!PR'UJ`]>:
M`$HHHH`*FLVVWL#>DBG]:AJ2V&;F(#^^/YT`>[6[;K>)O5`?THIMF,64`/41
MK_*B@">JURKRS11A7"`[F=2.#V']?PJS10!A7<,MOIVH0-&WDEM\;,1SDC(_
M//YU)>VD\R730P%0\"Q+'D#+`DYZXX'%:L\$=Q$8Y5W(>HR1G\J>!@`#/'J<
MT`9\EMMN[)H+?;&C,SXP,94CGFI+!)8FNS)$R[YBZ\CD8`]?:KM%`&1';W!@
M1)(6\L7#/)&2/G4DD=^W!Q4T!FM-W[DF&28!$W`&-3W_`#[5HTF`<<=*`*=\
M\Y81);2R1,/G9&4$_P"SR13(XY8KC[2+<_O(@AC4CY2"<=\=#6A10!F6]@UF
MMFR@R&%&1PO?/.1^-`MIH;8*L>XSW7F2KD?*I;)^O``K3HH`****`"BBB@`H
MHHH`2N+^(<A\NVA_A)W?7K7:5R7C]H/[/A#D"0/D?2@#@@HQR,"D+XX'2D:X
MB7C(-0M<IV'Y4`3!\G%*!S599P9!@=ZM`\F@!>]2'I49XI9&PI^E`%"=MUUZ
M\BMN6-9(1*G50`16'%^\NE]S6U;R[)<-]QNHI%I-+F1$#W]*S+N<RR$#[HJS
MJ$P7=&G<_I6=3)E+F=PJ>T7=+GTJ"KUDF!F@1:[TQNIIY/-1L>M`$3GY355S
M^[4?6IY&P#50G-`"5;L1RQ_"JE3V\HC!H`O33!![XZ56:5G/`J:)XYCD]?2@
MG:>1@4`0&-B,DTJU*S;AQ401CGG%`$3N-U(&0]14HM><EJ>+=%Y)H`K2.,;5
M&!452W!4O\G05%0`4444`%%%%`#R?W8IF:>!E/I3*!!112XH&)0:6@T`)111
M0`4444`*!DXJ=(5SR:CB(SBI@0HR30`A@*G*\CTJ"3AC4S7/&%'XU`26.30`
ME%*`2>!2LA49-`AM6M+B,VJ6L:C):5?YU5K?\#VIN?$UMQE8]SM_WR:!GKR+
ML15]`!12T4`+1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%)0`
M,0%)/05Y%XMU47^NSYRT4;;%&?08KUB[#-:3*O#%"!^5>,RVHCNI1+\SASNS
MZYH`J$6[=#BG>1$1\KY/H*FD,"=4!^@J(R`<Q08/K0`WR`KK@GK5H"J8$C-N
M9\?6KBCCKVH`4]*BNGVQ_45*3Q5:^.-HH`33UW7(/H*T[E3!!YS<`]!6;IV#
M(WTJ]JER\UFD;8PG`XJ7N=,':FS(=R[ECWIM.*X4$]Z;5',*HW,!6G`FV,52
MMDRV:T%X7%``QYJ)CS3VZU"YZT`5YFY-04^4_,:90`4^.-I&PHJ2*U:1=[':
MOKBK:;8XL1<'O[T`1):8&6)!]JF*%%Z[E]ZC\Y@<GFG"X4\$8H`3=%Z?E3C&
M#'N7/XTT/$K%E45#/=LPV*,#VH`=NVC+&H))BW`Z5&23UI*`"BBB@`HHHH`*
M***`)(^XIKC!I8_O4Z09H`C'6@FDHH`****`"BBB@`HI0,TK8``'6@!8ERV?
M2I6QC(Y]J(@0N",>]#3(&X6@",@8X%*,]=HH>4$$*N,U'DXH`D#A?_K4QW+'
MFFT4""O0?AI8;8[B_8?>_=K]*X*"%[B>.&,99V"C\:]JT+3UTO2;>U4#*+\W
MU/)_G0,T****`%HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"D-+
M24`<WXSU:73K)(K<[9)SC=GH*\[+%^68DD\DUT_CVX\[54@'_+%!GZGG^M<O
MLH`9*JD87Y:K/%*1P^1]:N;5%0W$OR[%'-`%0PL#@D9J[#Q&H.,XJ.&(\NY^
ME/A.X<=B:`).IZ54OC^^`]!5U>M9MPV^9C[T`7])1&\Q2<,R\4ZZ7$;*PY7K
M4.G9^9AU%:4\?VFS:0<.HY]Z.I>J1S[$GK24K?>-)007K1?E!JR>!4%K_JQ4
MQQZT`-8U6F;`J>0X%4Y7YQ0!$3FK-K;EB'<<>GK2VMMN(=^GI5X$#('3M0`W
M+$8'0=J:5!.0-K4FXJ?FH.\YP:`(9E,;DKT--PKCWJ;#$X/-0SQE#E:`&[2O
M6J[CYJL*V[AJ;)%N'RT`5Z*",'%%`!1110`4444`%%%%`"H<-4V,BH!4Z'*X
MH`A88-)4DB]ZCH`,9I=M/08.:<2-HYH`01<4\1\<T@D&.`32,QV],4`-=@`0
M*8.HH/6@<D4`6.G?-1R+W%.\L>XI53:>&R/2@"'&>E(1BI)(\-QWIIX/K0`R
MBGG:12P1^=<1Q=-[!?S-`';?#W03)*-5N%^1<B($=3T)_G7HE5=+MDL]-M[>
M,`*D8''KCFK=`"44M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444
M4`%)2TAZ4`>8>+9`WB.[(]5'Y*!6/UJ[K3%]8NR>?WA%4L4`-E;`P*CBBS\Q
MIY&7R:4G:IH`BGD"QXJ.S;Y6^M1W!X'O3[/HQH`L,^U6/H*S2<DGUJW='"D>
MM4Z`-;2;9I;:9P>$Y/%2J[(#[@@^]5]/E>.V=5<A7/(SP:EZFHV9UJ*<$C*9
M?WC#@<TTC!ZYITW^M?ZTRK.3J:%O_JZE.,5';C]W3I6PO%`$%R^T<5':PF:3
M+?='6GK:M,VYCA:N11I&N%'%``?8=.@H&>ZTK$XXJ,DD]30`YR#UIF]`.*9)
MR.M0E>>M`$[3J@JO)<[SC%,EZ5#0!+YWM1Y[8P.*BHH`"<G)HHHH`****`"B
MBB@`HHHH`*DC-1TY3@T`2N,BHB,5-_#FFD9%``@Z4_:-N,4S<`M!?O0`I;`Z
MU$S$T,<FFT`%*,YXI63:H)[TJM\NW\:`)U=@I4_>QQ3/,;&12`[L'N/TIL@(
M;/K0`CEB>:93CS3:`"K6EIOU2T7UF7^=5:UO"T/G^(K),?QY_($_TH`]G084
M#T%.I!2T`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%(>
ME+2&@#R3604UB[4]1*35+GTK2\2LI\07;+TW`?H*SAG%`#3Q]:8YR*D/7FHF
M.3B@"K<C&*DM/N-1*`77/2EA;Y6^N*`(KIOF"U!4DYS*:CH`O6,@P8SVYK1M
MU1IT#L%7G)-8MN^QR<9XK1B?>N<8S2:-Z4[:,S[P!;J4*<@,<&H:EN>)W^M1
MJ"6`'6F8/<T8#^[IX7)R11"A$8S4G2@!F2A]O2ER&Z<5&TP&>,U$UR`>E`%@
MYZ#FF%2!4'VM?0T?:U'8T`6`HQS5>3`;K36NL]!4#2%CF@"5BO4FH&.3Q29H
MH`****`"BBB@`HHHH`****`"BBB@`IX7C-,%3QC(H`(_NXH8<4N-IH/2@"(B
MFYIQ-,H`*F@CR=QZ"F1H78#M5D_(N!T%`$$Q^;%1CK0QRQ-*@RV*`'D?+O7I
M498YYJ1."5/2DE3;@T`,+4E%%`@KL?AO8^=J[W;#Y8$.#[GC^1KCJ]+^&<07
M29Y,<M)0,[.EI.]+0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`
M!1110`4G>EI*`/)_$,1CU^\5O[^?S&:HUL^,`/\`A([K'^Q_Z"*Q:`!JA88.
M:F-0R]*`(I#R#44,F`RGOS2S\*#4*\!C[4`(3DDTE%*JEC@"@"2WQOYJYYVT
M@=J2*$+&-PYIPLQ+RJL1W([472!)E.<;[AMHSFKEK;",!FY-638-;KY@4,I`
M^84TG'-`"GG)II(QBAFQ43&@"-DY)%-\O/85*>*09ZT`0FW!]J8\"IR6J>;*
M)NJG(VXT`)L)Z8I",4E%`!1110`4444`%%%%`!1110`4444`%%%%`!4T)J&I
M(CS0!9"[J;*`J&G*:@F8YQ0!#FBBGQ)O<"@"Q;Q_N\^M).VU<58QM7V%496+
MR&@!BC<:,[6R*?\`<&.YIA%`$G#G/0TLC@ICO40.*2@`HHHH`*]2^'"E?#Y)
M'#2''YFO+>M>S^%+$:?X?M(@VXLF\G&/O<_UH`UZ6BB@`HHHH`****`"BBB@
M`HHHH`****`"BBB@`HHHH`****`"BBB@`I*6DH`\L\4/O\1WASW4?^.BLP5;
MUIM^MWC?]-2/RXJ*RM3>RD!Q'$OWI&Z#_P"O0!`:@E92,`BNFBTO3%`#6U[=
M_P"T``I_6B_\,V5S;;[*&:"7^ZXI717*SD)<L<+S41X4"MY/"FHAMVZ(#W)_
MPJS#X.E;YIKE57T49I<Z&J<CEJNV5O-)_JT8Y/85U]GX8M(2"R^8?4UN06<<
M"!4C51["H=1="U2[G+:;X>GG*O<?(G=3U-=/!8P00&)(UVXYXZU9V[5[U%-<
M*D9<_A6<I-FBBD<C<O)!=3)$R[0V/+Z[O;VI+[2Y$A$\:!2PRT?I]*6Z)BU^
M.XF`\N1ACZXXKH;EDV^>[;5(P>>!70MCGGN<,><@\8H"U8U*[MY97>`\AMI'
MK5:*17SD;".WK3)'!1W-(\JH#FJ\UR`2$JJSLQR30!+<3F7"CH*@HI<&@!**
M7:?2C::`$HI=I%)0`4444`%%%%`!1110`4444`%%%%`!3X^M,I5.#0!:!XJJ
MYRQJ>1L1CU-5Z`"KMM'M0-W-5H(][C/0=:GDE"\#M0!))+M!JD6^8D<9H=RY
MS3:`%!P<]:4DL,TWK4Q3;%SUH`AHHHH`****`-3PYI4FK:M#`@^0'<Y]`*]H
MAC6*)(T&%10H_"N1^'>F?9M*-XZ_/<$XXZ`'']*[`4`+1110`4444`%%%%`!
M1110`4444`%%%%`!1110`4444`%%%%`!1110`4USA"?04ZF2*6C90<9!%`'B
MNM7)DU.[53@><V??FM_PTHD&YU&R,`(O;..M<_KUC-8:O<Q3C!+E@?4$YK?\
M+/NL^>H-9U-$:TE>1TDA;.Y3@BHI-6,+;70LQXXI^TRG`Z4A/EEE*9QT-<QU
M617O]4,=ID)M)X`IVABXDMS)<'Y6/R@TYK5)7$LXSCD`U=BD382,`"FD$M%H
M60@'I39'6-22:@EN@$^7GWJ@]P6;FJ,TBS)<&3/I52Y)=,,=J@T2RI%"9'[#
MBL*]U!W5B6QNZ#/2BUQO0EU&:SE1DE4-COCD5S5P99':*.5VA'0,QP*5G>>4
M@GY<\U;5550`*W@FCGG),I0J(3RF]O:IF`F4\%&-2Y(SCBHW`;[QS5F93EMW
MC/3/TI@B<]JNB3R^.HI^0W*GZT`5$MB>M2B(+VJ4GG(II/&:`&;1BF2%5%.>
M0`55=BQH`5WW'CI3***!!1110,****`"BBB@`HHHH`****``T=Z.U%`$A&_`
M!I1$=V#49.:-[8ZF@"9Y`B[(_P`34)))YI**`"@4H4L>*L10[2"U`"018Y84
MD[<XJ9V`!-4V.230`E%%%`!5G3;5K[4(+9!DR.!^'?\`2JU=E\.-/$^J27K#
M(@4A>.YX_D:`/1K.W6TM(K=``L:!1CVJ:CK10`M%%%`!1110`4444`%%%%`!
M1110`4444`%%%%`!1110`4444`%%%%`!2&EIK'`]J`..^(D=H^GQ[U!NB?W9
M'4"N7\+3;)#$WKQ4_BK4&U#6I=I)1&\M1]/_`*]6](TV.RC6[N"/-.<+Z"HF
MU8TIIWT-^+(YQQ[TRXGCC!8D$^YK+GU=6D\J'<[^BUD:G%JC@N;=]AZ8K!(Z
MF[:FP]\]Q)MC/RCWJTDCB/'&!ZUG>&;*6*VDN;E<%N%!["H]7U<QL885R*+.
MXE)-%I[EWR$VX]*#=QPKF3!;T':LZSED:'<_RYR33%=75Y6/RBBP[V':E?>:
M,G*I_"*QYW+*!GDTVXNO/F9^B#H*;$I9M[?@*TC$PG,D@B$:^I-2'K2]!3<U
ML8#2>:C;DT]CBHR>,T`-9:9O\HY!X]*<6XS43C(H`F$@<9!X[U$S]:A5BC>U
M*_3B@!K-FFT44`%%%%`!1110`4444`%%%%`!1110`4444`%!HH%`!4BQ[AD&
MHS3XFVF@!_V<^M*(#GFIP<XQ2T`-1`HR!0STC2!:KO(2>*`%D;J,U%2DYI*`
M"BBB@`KTGX9@?V7<GOYO/Y5YM7H_PQ;_`(E]V/\`II_04`=O2TE+0`4444`%
M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`)6+XIU3^S-*8Q
MG]])\B<_Y[9K98@`D]NM>9>+=3_M'5V2-B8H3M7^OZT`8\4I6Z65ANP^XY[^
MM6]2U1[ESL.R,]>:SWD6,>I]!47EM(=TAX[+2<4WJ4I-&KH5_%;:H&9?E9<`
M_A76#5X'!&Y3VKE-$L?M-T&90(4Y)(JQKD-FKEHR8_\`=K"25]#>#=M3?DU2
MT!$94`-Q7.:H+>?4X1;R84GYAVK'^QWLJEHTD*#H34&V>W8F164^IIJ%NHG4
MZ6-W5KJWMX#%&=S'TK%^URM`5+80=AWJL[LYR3FG0CS)%0]*T4;&4IMDEN"[
M$G[H[5>4>M1QP)$3M!YJ8G`Z59`A.:83DFE)XIC&@!">:8QH-,)H`0FF,:4G
MFHV;GB@!C4F<C%!-)0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%
M`"]:3I3AUIS)QD4`20R=C3I'(Z5`G7!J93V(XH`A.YC3TAYRU2\#FF/,,$`4
M`12`!B!3*,YHH`****`"O0_A@W^CWB_[0/Z"O/*[_P"&!_X_!^/\J`._I:2E
MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`2BEI*`,+Q;
MJHT[2W5#^^F&U<=AW_3->6M-ND*+U/5JZ?XANW]J(NX[0HXSQTKEU`V+Q0!(
MH53UY]:DA0SSI$HY<@9-11BK,)Q.A'!W=J4MAI79MZC=QZ39BVC7''..YKFI
MI9I6$S\@'./:K.IL7OEW$M]>:KW'"''%9QBMS2<WHCH+'Q-;A%C="H`Y!Z5>
M^W:7??*ZQMGU`KB&`\LU!D@\<4<EQJH[6.ROM%TRYA=[7",HZKTKF?L,L0\T
M%653C-264THC8"5P,=`QID#,4.6)Y/>B-PE9]"PIRH/2E)-(/NT'[M:F(TFF
M&G'I4;4`-)YJ-VI6Z5$U``S]JC)H/6DH`****`"BBB@`HHHH`****`"BBB@`
MHHHH`****`"BBB@`HHHH`6G+(RC&:92T`+N.<T[S3BF4E`#BY--HHH`****`
J"BBB@`KOOA@/FO/H/Z5P-=_\,/\`E\_#^E`'H%%%%`!1110`4444`?_9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>9
<FILENAME>highincomex6x1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 highincomex6x1.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#`!`+#`X,"A`.#0X2$1`3&"@:&!86
M&#$C)1TH.C,]/#DS.#=`2%Q.0$1713<X4&U15U]B9VAG/DUQ>7!D>%QE9V/_
MVP!#`1$2$A@5&"\:&B]C0CA"8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C
M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V/_P``1"`$E!)(#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#T"BBB@`HH
MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB
M@`HHHH`CDBCEV>8@;8VY<]CZU)110`4444`%%%%`!1110`4444`%%%%`!111
M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`
M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%
M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44
M44`%%%%`#****P&%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44
M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`^BBBMQ!1110`4E
M+4<_^HD_W3_*@"I<:UI]L8O-N/\`6KN3:C-D>O`-,_M[32,B<G_MFW^%8.J&
M)!:(A4!8%&`>G)JAYB?WU_.KY4!UG]O:?_SV;_OVW^%(?$&G`<S-UQ_JV_PK
ME/,3^\OYU+;A7N41@#\PXHY4%CL[6[ANXEEA8E6Z;E*Y_.IZR])YTR'/H?YF
MKJR,O7D?K4,">BFJP89%.H`****`"BBB@`HHHH`****`"BBB@`J":YC@8*^[
M)&<`9J>JE[@E0?0TF`L5_!)(L8WAG.%#*1GC-6JR[:.-;V,JBJ3GD#&>*U*$
M`4444P"BBB@`HHHH`****`"BBB@`HHHH`*S)==LHKXVKLP(.&?'RJ??T'OTJ
M+7]773[<QQL//<'&#RH]?\/_`*U</(^Q@7;DGJ?YC';/<=34MVV&D>G@@@$'
M(/>EK@M+UNXTYMH^>+@>63Q]?;@$DC(]JZ[3-6MM23]TVV0=8V//U'J/>FG<
M&B_1113$%%%%`!1110`4444`%%%%`!1110`444E`",X7&>I[4SSUSCFF.<MF
MHW()X&*`+"2!V('3M4E4EZ^E68V)&#U%`$E%%%`!1110`4444`%%%%`!1110
M`4444`%%%%`!114<L@C'J3T%`#R0H))``[FF^:O.#G'M4&"[!FY/;VJ55H`3
M[0-V"C@>IQ_C2)=P.X02`,>@8%2?IGK3V3(K.O(`4(8`@]0:`-6BN:CU&>PD
MY)DA[H3T^GI_*MZSNX;V`30/N0\>X/H:=@)Z***0!1110`4444`%%%%`!136
M944L[!5'4DX`K*NO$=A;L41VF<?\\QQ^=)M(F4XQW9ISSQ6T+33R+'&@RS,<
M`5STOBF2YD:/2+"6Z"G'F;3C\A_4BLWQ-KR:AHCP)`ZR%@2-V<@&EBN]8U!%
MAM<Q0@;0L2[%4>F?_KU+FC-UH]-0U+7=:L@7N)H()`-_V=4#$#T)[?@35V/Q
ME$,-<6X5"/X7R1_C44/A02?-?R@@CE5/)_&M1--TZ&/8EK&PX^\,Y_.C5A'V
MDM]#1L;^WU"W6>V8E&]00?UJS6?"2TR*.%!X`XJ_5FPM%%%`!1110`4444`%
M%%%`!1110`4444`,HHHK`84444`%%%%`!1110`4444`%%%%`!1110`4444`%
M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`#Z***W$%
M%%%`!4-TZ);R%V5?D)Y..U35@>(1*+J)U5RA@E#%>GW3U_2@#AI91)=/*Q/W
M^!GCBD$RAB?*B.3GE:KS0/-(WEQE_G;H,]ZC-A<8S]ED_P"^#6@W)ES>A4C8
MHR=V0.1]*LZ?^YU>%=S,I&2Q]Q6.;611\T++]5K0LPT6HAG!QC`^E2RXMM.Y
MZ)I!SID)]<_S-6S5/2#G3(".X/\`,U;-(S)XON"GTR+_`%8I](`HHHH`****
M`"BBB@`I*6B@"F+PL,!=K#@ANU)]I?\`O"H9\)/-G'WL_H*CWKCMBHN,N)=.
MTJI@,2>W:H[ILW!']T`4VUD4RAAT`/;VJDVH6[L6>55).<$XQ1?0"<MLN(),
M_=D&?H>/ZUKUSDEQ:R@A;A23VW5NVLGFVL;]RHS]:<6!-1115""BBB@`HHHH
M`****`"BBB@`JM?WB6-JTS\XX5<XR:FDD2*-I)&"HHR2>PKA=:U,ZI<[1Q"#
MM4$\#W/Y9)&<<"DW8:5RG>7;W5P\T\F-Q+=R!Z8_0`CM4FC:6=2E:28LL*]Q
MW]A5>TMI=2NU@C)VY+,W;W/I7;6\"6L*0QC"(,"L9RY5IN4M3D=1TBXTYMR`
MS0=<@=/KZ53AG*LDB%BRG<<'#9Z_F?4=!7?,,Y]ZYKQ%86,*?:`YBE8\(HX/
MOCM2C.[LQM6+ND>)RH2"_.X$[1*.3]3ZCW'/'(KJ(I8YHUDB=71AD,IR#7EZ
M9*!G(!;C@'Z9([_AS71>#!,UY.RD^2L>UAVW9X^I`ZD\\UJF[V):.QHHHJR0
MHHHH`****`"BBB@`HHHH`*1N`:6FO]V@"$\`DU29I)#\IVCMQ5R7[F/6HXTR
M,D8I#(`UQ&!NPP/J,5;MY%9B,X.!P:;)AR,]AQ40B#`J3@GG</6F!?I:KVQE
M&1*<^AJQ0(****`"BBB@`HHHH`****`"BBB@`HHHH`2J(D\R0L>_2KDF3$X'
M7!Q69$_3(H&BZ&52`>IZ`"I`S'HGYG%4I[J.V\J>7.SE>!GK_P#JJRMW$03N
M&!W)`_F:!$<%U++<2J8=JJ2O7GC^A[4ZZ`V$G`'O3HG\TNR,`,X/&>E0W"*/
MF.6/8F@9SVHD$L`:KZ!?O8:JL)Y@N&"L,]&/`/\`3_\`55J_1=[,>IK#N6*M
MN4X*G(/H:M:DL]*HIJDE03U(YIU0,****`"BBB@`HHHH`QO$\+2Z<&&=J."P
M]NE<_IN@S7Y+[_+@SC?W_"NQOHO/LIHL9+(<?7M6+H<[?898E.&0Y_`_Y-9M
M>\<]2C&=1-E&T\(6EO();^Z>>0'(5>!_C6^UT%`6-0H'`JF,D]:@O[Q;&)7*
M%RQP!FK-]B_O9CEC^=1)=0//Y*2!Y.O'.*I:=</?P2R2`9!PJCH.*-,T\VMP
M&DD!<H?E';I0*_8V[49ESZ"KE5[4`;C5BF4%%%%`!1110`4444`%%%%`!111
M0`4444`,HHHK`84444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111
M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`#Z***W$%%%%`!5'6
M@&TJ<-TP/YBKU<UXOO9K;[*D05E;<65U)4],9HW`Y=I'MXF:%V0O+S@_6HA?
MW?'[]^32DF6W`.Q&#YQGJ/6H?(88^9.#_>J@-))9)])+2L7.XC)I--/ELZ=1
MM')^JFJRR-!;QQ_(PW$L-W`Z?G4ZW$LJ231QQJ$8;DB3MR?Z4K=37G7*HG8:
M3(@TR$%AW_\`0C5T,&Z$'Z&O.Y[^]TY+>6"\D\N?+;'^8("?2I;/Q5J,MPL(
M6"1F)`9T(_D:1FST:+_5BI*K6"7"6B+=^5YW.?*)*^V,U9H$%%%%`!1110`4
M444`%%%)0!SVM:A]DNY0L88\9RV!T%9QUEQ'D&/([]OSJ/Q)<@:M)M;&0N.?
M:LHS3'N]<524N;0[Z-%2C=FRVL%[&;Y=K%=H93D'/_ULU2M=,M;B$7$RDNY.
M2S$_UJO:M'<S&*8G(^8`FM=&6-%1,A1P`*.9VU.'$I0GRHK?V)9E@VTJ1RI1
MR"*WO"\S&WNK5W9FMYSC<<G:W(_K68)>>3GVJ[H;01:E)M&)+A>>?O;>GZ9K
M2G)WU,8/4Z*BBBNDU"BBB@`HHHH`****`"BBB@#(\2V]Y<:=MLSEE8,R`X+#
MV/J.OX5PV!N:(J4=>"C\$>F1^&217I]9>K:%::FF74I*!\LB'!%2U<:=CA(W
MEMI-]L[*>#P<'VKH],\0QSXCN\1R<`-C@UCW]C>:9(PN@WDABRSH#C)ZDX^Z
M3@#/2J;1*P.002,A@./<\=ASR*B2ON4O([F:X2&!IG8"-1N)KB;RYDU2^:5@
M=O1%`S]`/7GTIDDUT\*VKN3'G<!G(Z9_K33M6,`$X`X(YY]<=\GIW&*F,.77
MJ-NY+;02WEU'!"H+OP#C(]"3Z@#IWS7H>FV4>GV4=O'T4<D]2>YK+\,:0+2#
M[7.F+F8=_P"%>PK?K9*Q#84444Q!1110`4444`%%%%`!1110`5!=S+!$';IG
M!J>N8U;6'^WR1)L:"WZ@C.6%)NR&E<V3*LH1DY4CBIB`%KG-,\46%S=>7<C[
M/,>`?X6_'M^-=,!GF@&-1.[=?Y4NP4^EQ3$-`Q3P:3%`ZT`.HHHH`****`"B
MBB@`HHHH`****`"BBB@`K+>-H967C&<K]*U*BN(O-C(&-PZ$T#1295DA,<@!
M!/&1G![4X1VUV")H$+CALCG\_2HG#Q';(I'U[TPMN(;)##H13&6HXX+-,0IM
M4=LDXS5>XG#`X-1&X?!#X)]1WJE*WS$Y(I`5[PEF.,8JE:6,E]J$42J"NX%_
M0*.M7/*FN9?+A0NQ].U=%I.GBPM_FP9GY<C^55>Q%B_1114C"BBB@`HHHH`*
M***`"N<MD%MKMS`!A7!P/U%='6#K:_9M1MKM>C':W^?H:F7<F7<>!AB*J:E'
M#(L/VDXB#Y)SC^$U?E&)35/4[9KNT\M>H8$4QO82TN(&LI6M%V)'D#C&3BFZ
M+'*&FFN&W.V!R<D4^QT];6,AF^7G(SU[<_A5Z-))L+`H6/\`OD?R%`DNY=M2
M"K`$9SR*L5!;6J6X.W)8]6/>IZ904444`%%%%`!1110`4444`%%%%`!1110`
MRBBBL!A1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`/HHHK<04444`(2!U(%<EXVN
MHX)+7=N(D!`V#/((_P`:Z2ZL(+LYEW?@Q%49/#6G2XWI(V#D9<G!H`XVXF>T
MM([F2*6..8D+O3G@#MZ'/'TIMG<I?2&.U@:655W,.%&!]3[UVO\`PC>GY&Y9
M6QZRL:<?#VF-UM\_5C0!QEPMQ\N;:5SCH%)VU5MKTP6D]VA^0N(^!SNQ_AFN
M^7P]I:]+5?S-6;33+*R+&VMHXRQR2!U-`''6D.F:KIT$]^MQA`5"PC@\]\#M
MQ7/Z?87<>IQL+28JK\$(>E>M;5`P`,?2EV@=A0`V-0L:J"2`.K')I])2T`%%
M%%`!1110`4444`%)2T4`9.KZ!::J,R-)$X_CC;'YUCCP+"!M-[,5S_=7/YXS
M7744N5%*36S.(U'PDEK+;RPI)/"K8E&<L!ZBI18Z5',L2/*"PR#Y[+^==C4<
MEO!*<R0QN1W90:F4+D25W<Y-;'39)C&]S("1P8[EB#]>>*M:'HB0:P][&L@@
M1=L;2')<GJ?IUKH8[6WB;=%!&A]54"IJ%"PE$****LH****`"BBB@`HHHH`*
M***`"BBB@!DL22H4D4,I[&N2U;PM+#^]TO!0'<8&/`QG&T]NO3I784E`'EY.
MUFB9&7:WS1N,-S_(G'45M>&M+:^N_M<Q#01MQ_MN._I@=*Z34]"LM2(:6/;(
M.DB':P_&KEI:Q6=LD$"!$08`%2HV'<F`P,"EHHJA!1110`4444`%%%%`!111
M0`4444`)7FNLV]W:B9!*)"7)D13NP?QYKTNLS5M'M=0`E>(><O1UX;'U'6DU
M<:=CS/1H'N+Q9&3(1@3D>AZ5Z1!J$UPR*J!,GDU1@TF.W)")C)R?<UI6\/EL
M"!TIB-$4M-7)%.Q0`4`44M`!1110`4444`%%%%`!1110`4444`%%%%`!1110
M`V2-)$*NH93V-9BVD<EX\4$CB.(?O,G.&/0`GGIR>>X]:U:8D:1@A%"@DL<#
MJ3U-`&!JUK<6<:2K-&R,X0YC/RYZ'KZX'XU;M],M[J".?SY&1U##;A<@_K6G
M-#'/&8YD5T/56&0:6**.&,1Q(J(,X51@<\T#N-@@CMX]D2!1_.I:**!!1110
M`4444`%%%%`!1110`52U2R^W6IC!PRG<I]ZNT4-7!JYC$LT<;,"&*@$'U[TY
M%9CA5+'T':M"2VCD.3D?2I$C6-<(H`H`K160SNF.X_W>PJV``,`8%+10`444
M4`%%%%`!1110`4444`%%%%`!1110`4444`,HHHK`84444`%%%%`!1110`444
M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110
M`4444`%%%%`',_VO??\`/?\`\<7_``H_M>^_Y[_^.+_A5&BN3GEW//YY=R]_
M:]]_SW_\<7_"C^U[[_GO_P".+_A5&BCGEW#GEW+W]KWW_/?_`,<7_"C^U[[_
M`)[_`/CB_P"%4:GMH%G$N7*LB%P-N<X'Z4U.;ZC4I/J3_P!KWW_/?_QQ?\*/
M[7OO^>__`(XO^%2P:>J7*;F$H1PLBE<`<$_B.*E\F+/FXA_U.?,V_N]V['3]
M.E:)5.K+2GW*O]KWW_/?_P`<7_"C^U[[_GO_`..+_A4.H(L=[*J+M7/`'TJO
M6;G-.UR'*2=KE[^U[[_GO_XXO^%']KWW_/?_`,<7_"J-%+GEW%SR[E[^U[[_
M`)[_`/CB_P"%']KWW_/?_P`<7_"J-%'/+N'/+N7O[7OO^>__`(XO^%']KWW_
M`#W_`/'%_P`*HT4<\NX<\NY>_M>^_P">_P#XXO\`A1_:]]_SW_\`'%_PJC11
MSR[ASR[E[^U[[_GO_P".+_A1_:]]_P`]_P#QQ?\`"J-%'/+N'/+N7O[7OO\`
MGO\`^.+_`(4?VO??\]__`!Q?\*HT4<\NX<\NY>_M>^_Y[_\`CB_X4?VO??\`
M/?\`\<7_``J.VLQ<Q%DDPX=5*E>.>^:D^P)M\T3GR0I);9R,$#I^-6O:/6_X
ME>_O</[7OO\`GO\`^.+_`(4?VO??\]__`!Q?\*:]B%,R^;EXANQMX(P#U[=:
MIU+E-;L3E-;LO?VO??\`/?\`\<7_``H_M>^_Y[_^.+_A5&BESR[BYY=R]_:]
M]_SW_P#'%_PH_M>^_P">_P#XXO\`A5&BCGEW#GEW+W]KWW_/?_QQ?\*/[7OO
M^>__`(XO^%4:*.>7<.>7<O?VO??\]_\`QQ?\*/[7OO\`GO\`^.+_`(51HHYY
M=PYY=R]_:]]_SW_\<7_"C^U[[_GO_P".+_A5&BCGEW#GEW+W]KWW_/?_`,<7
M_"C^U[[_`)[_`/CB_P"%4:*.>7<.>7<O?VO??\]__'%_PH_M>^_Y[_\`CB_X
M51JY#8K-"DBRD9+!@5^[@9XYYIJ4WLQJ4WLQW]KWW_/?_P`<7_"C^U[[_GO_
M`..+_A2C3EX8SXC;;L;9DG=G&1VZ4Z2R\JS91Y9G^9F!/(53CC\C5?O.Y7O]
MQG]KWW_/?_QQ?\*/[7OO^>__`(XO^%4:*CGEW(YY=R]_:]]_SW_\<7_"C^U[
M[_GO_P".+_A5&BCGEW#GEW+W]KWW_/?_`,<7_"C^U[[_`)[_`/CB_P"%4:*.
M>7<.>7<O?VO??\]__'%_PH_M>^_Y[_\`CB_X51HHYY=PYY=R]_:]]_SW_P#'
M%_PH_M>^_P">_P#XXO\`A5&BCGEW#GEW+W]KWW_/?_QQ?\*/[7OO^>__`(XO
M^%4:*.>7<.>7<O?VO??\]_\`QQ?\*/[7OO\`GO\`^.+_`(51HHYY=PYY=R]_
M:]]_SW_\<7_"C^U[[_GO_P".+_A0;!``YG/E%%;=LYY)`&,^U#::R`JT@\SY
MRJA<@A>O/:K_`'G?\2O?[C?[5O#UE'_?"_X4?VK>C_EJ/^^%_P`*L:A#$ML^
MQ(P8V48489,CD-Z\UETI.<7:X2<HNUR]_:]]_P`]_P#QQ?\`"C^U[[_GO_XX
MO^%4:*GGEW)YY=R]_:]]_P`]_P#QQ?\`"C^U[[_GO_XXO^%4:*.>7<.>7<O?
MVO??\]__`!Q?\*/[7OO^>_\`XXO^%4:*.>7<.>7<O?VO??\`/?\`\<7_``H_
MM>^_Y[_^.+_A5&BCGEW#GEW+W]KWW_/?_P`<7_"C^U[[_GO_`..+_A5&BCGE
MW#GEW+W]KWW_`#W_`/'%_P`*/[7OO^>__CB_X51HHYY=PYY=R]_:]]_SW_\`
M'%_PH_M>^_Y[_P#CB_X51HHYY=PYY=R]_:]]_P`]_P#QQ?\`"C^U[[_GO_XX
MO^%4:*.>7<.>7<O?VO??\]__`!Q?\*/[7OO^>_\`XXO^%)#8+.BM%.#\P5LJ
M0!P2<>O2A;!9$\V.?,(#%F*8(QCMWZBK_>=_Q*]_N+_:]]_SW_\`'%_PH_M>
M^_Y[_P#CB_X4AL4\II%F+#R_,7Y,9`.#GGCFJ5)RFMV)RFMV7O[7OO\`GO\`
M^.+_`(4?VO??\]__`!Q?\*HT5//+N+GEW+W]KWW_`#W_`/'%_P`*/[7OO^>_
M_CB_X51HHYY=PYY=R]_:]]_SW_\`'%_PH_M>^_Y[_P#CB_X51HHYY=PYY=R]
M_:]]_P`]_P#QQ?\`"C^U[[_GO_XXO^%4:*.>7<.>7<O?VO??\]__`!Q?\*/[
M7OO^>_\`XXO^%4:*.>7<.>7<O?VO??\`/?\`\<7_``H_M>^_Y[_^.+_A5&BC
MGEW#GEW+W]KWW_/?_P`<7_"C^U[[_GO_`..+_A5&I8(XY'VR2%/3"[B334YO
MJ/FD^I9_M>^_Y[_^.+_A1_:]]_SW_P#'%_PI3IH218WN`'=BL>%R#@XY].:1
M=/&Y8WFVRLF_8%SQUZYZXJOWG?\`$KW^X?VO??\`/?\`\<7_``H_M>^_Y[_^
M.+_A4-U;QPQQ.DI?S`2`4VX'YU7J7*:T;)<I+J7O[7OO^>__`(XO^%']KWW_
M`#W_`/'%_P`*HT4N>7<7/+N7O[7OO^>__CB_X4?VO??\]_\`QQ?\*HT4<\NX
M<\NY>_M>^_Y[_P#CB_X4?VO??\]__'%_PJC11SR[ASR[E[^U[[_GO_XXO^%'
M]KWW_/?_`,<7_"J-%'/+N'/+N7O[7OO^>_\`XXO^%']KWW_/?_QQ?\*HT4<\
MNX<\NY>_M>^_Y[_^.+_A1_:]]_SW_P#'%_PJC11SR[ASR[E[^U[[_GO_`..+
M_A1_:]]_SW_\<7_"J-%'/+N'/+N7?[6OO^>__CB_X4?VM??\]_\`QQ?\*I44
MN:7<.>7<N_VM??\`/?\`\<7_``H_M:^_Y[_^.+_A5*BCFEW#GEW+O]K7W_/?
M_P`<7_"C^UK[_GO_`..+_A5*BCFEW#GEW+O]K7W_`#W_`/'%_P`*/[6OO^>_
M_CB_X52HHYI=PYY=R[_:U]_SW_\`'%_PH_M:^_Y[_P#CB_X52HHYI=PYY=R[
M_:U]_P`]_P#QQ?\`"C^UK[_GO_XXO^%4J*.:7<.>7<N_VM??\]__`!Q?\*/[
M6OO^>_\`XXO^%4J*.:7<.>7<N_VM??\`/?\`\<7_``H_M:^_Y[_^.+_A5*BC
MFEW#GEW+O]K7W_/?_P`<7_"C^UK[_GO_`..+_A5*BCFEW#GEW+O]K7W_`#W_
M`/'%_P`*/[6OO^>__CB_X52HHYI=PYY=R[_:U]_SW_\`'%_PH_M:^_Y[_P#C
MB_X52HHYI=PYY=R[_:U]_P`]_P#QQ?\`"C^UK[_GO_XXO^%4J*.:7<.>7<N_
MVM??\]__`!Q?\*/[6OO^>_\`XXO^%4J*.:7<.>7<N_VM??\`/?\`\<7_``H_
MM:^_Y[_^.+_A5*BCFEW#GEW+O]K7W_/?_P`<7_"C^UK[_GO_`..+_A5*BCFE
MW#GEW+O]K7W_`#W_`/'%_P`*/[6OO^>__CB_X52HHYI=PYY=R[_:U]_SW_\`
M'%_PH_M:^_Y[_P#CB_X52HHYI=PYY=R[_:U]_P`]_P#QQ?\`"BJ5%'-+N'/+
MN%%:/V"+^\_YC_"C[!%_>?\`,?X5E[2)T_4ZIG45H_8(O[S_`)C_``H^P1?W
MG_,?X4>TB'U.J9U/BE:(L4Q\RE3GT-7OL$7]Y_S'^%'V"+^\_P"8_P`*/:H/
MJ=4A?4)?)ACC=QY9SN+9)/\`A[4S[;<>9O\`,YQMQM&,>F.E6?L$7]Y_S'^%
M'V"+^\_YC_"J]OYE?5:Q0DD>60O(Q9FY)--K1^P1?WG_`#'^%'V"+^\_YC_"
MI]K$GZG5,ZBM'[!%_>?\Q_A1]@B_O/\`F/\`"CVD0^IU3.HK1^P1?WG_`#'^
M%'V"+^\_YC_"CVD0^IU3.HK1^P1?WG_,?X4?8(O[S_F/\*/:1#ZG5,ZBM'[!
M%_>?\Q_A1]@B_O/^8_PH]I$/J=4SJ*T?L$7]Y_S'^%'V"+^\_P"8_P`*/:1#
MZG5,ZBM'[!%_>?\`,?X4?8(O[S_F/\*/:1#ZG5*4<SQQNBG`<@GUR.E6FU%V
MNHY#YFR,8`W\GZFG_8(O[S_F/\*/L$7]Y_S'^%4JUBEA*R(A>@BX=][2S@@C
M/R^QQ[53K1^P1?WG_,?X4?8(O[S_`)C_``I.LGN)X2JS.HK1^P1?WG_,?X4?
M8(O[S_F/\*7M(B^IU3.HK1^P1?WG_,?X4?8(O[S_`)C_``H]I$/J=4SJ*T?L
M$7]Y_P`Q_A1]@B_O/^8_PH]I$/J=4SJ*T?L$7]Y_S'^%'V"+^\_YC_"CVD0^
MIU3.HK1^P1?WG_,?X4?8(O[S_F/\*/:1#ZG5,ZBM'[!%_>?\Q_A1]@B_O/\`
MF/\`"CVD0^IU3.J:*Y>-43)"*^_Y3@^AYJW]@B_O/^8_PH^P1?WG_,?X4U52
M&L'50Q=3D%V]P=V=N%4-QQTSZU`;RX,;1F0[6SG@=^O-6OL$7]Y_S'^%'V"+
M^\_YC_"FZ]^H_JM8SJ*T?L$7]Y_S'^%'V"+^\_YC_"I]I$GZG5,ZBM'[!%_>
M?\Q_A1]@B_O/^8_PH]I$/J=4SJ*T?L$7]Y_S'^%'V"+^\_YC_"CVD0^IU3.H
MK1^P1?WG_,?X4?8(O[S_`)C_``H]I$/J=4SJ*T?L$7]Y_P`Q_A1]@B_O/^8_
MPH]I$/J=4SJ*T?L$7]Y_S'^%'V"+^\_YC_"CVD0^IU3.HK1^P1?WG_,?X4?8
M(O[S_F/\*/:1#ZG5(8+YXI4<[CY:;%"G&?3/KUH2_E6&9=SEYB<G=P`>O'K4
MWV"+^\_YC_"C[!%_>?\`,?X57M_,KZK6*DMU/-&$DDRH]AS]?6H:T?L$7]Y_
MS'^%'V"+^\_YC_"DZJ>XG@ZK,ZBM'[!%_>?\Q_A1]@B_O/\`F/\`"E[2(OJ=
M4SJ*T?L$7]Y_S'^%'V"+^\_YC_"CVD0^IU3.HK1^P1?WG_,?X4?8(O[S_F/\
M*/:1#ZG5,ZBM'[!%_>?\Q_A1]@B_O/\`F/\`"CVD0^IU3.HK1^P1?WG_`#'^
M%'V"+^\_YC_"CVD0^IU3.HK1^P1?WG_,?X4?8(O[S_F/\*/:1#ZG5,ZBM'[!
M%_>?\Q_A1]@B_O/^8_PH]I$/J=4SJ*T?L$7]Y_S'^%'V"+^\_P"8_P`*/:1#
MZG5*XOK@1J@<!4^[A`,?CBD-[<%U?S,%00```.>O'2K/V"+^\_YC_"C[!%_>
M?\Q_A5>V\Q_5*W],JF[F9G+,"738>.@]O2H*T?L$7]Y_S'^%'V"+^\_YC_"D
MZJ>X/!U69U%:/V"+^\_YC_"C[!%_>?\`,?X4O:1%]3JF=16C]@B_O/\`F/\`
M"C[!%_>?\Q_A1[2(?4ZIG45H_8(O[S_F/\*/L$7]Y_S'^%'M(A]3JF=16C]@
MB_O/^8_PH^P1?WG_`#'^%'M(A]3JF=16C]@B_O/^8_PH^P1?WG_,?X4>TB'U
M.J9U%:/V"+^\_P"8_P`*/L$7]Y_S'^%'M(A]3JF=4D$\EN^^(@-ZE0?YU=^P
M1?WG_,?X4?8(O[S_`)C_``H55(/J=5%<7]R,XD`SSPHX^G''X4T7DXB\KS#L
MQCH,X],]:M?8(O[S_F/\*/L$7]Y_S'^%5[;S']4K?TRI=3">8LHVH`%5?0"H
M:T?L$7]Y_P`Q_A1]@B_O/^8_PI.JGJ#P=5F=16C]@B_O/^8_PH^P1?WG_,?X
M4O:1%]3JF=16C]@B_O/^8_PH^P1?WG_,?X4>TB'U.J9U%:/V"+^\_P"8_P`*
M/L$7]Y_S'^%'M(A]3JF=16C]@B_O/^8_PH^P1?WG_,?X4>TB'U.J9U%:/V"+
M^\_YC_"C[!%_>?\`,?X4>TB'U.J9U%:/V"+^\_YC_"C[!%_>?\Q_A1[2(?4Z
MIG45H_8(O[S_`)C_``H^P1?WG_,?X4>TB'U.J9U%:/V"+^\_YC_"C[!%_>?\
MQ_A1[2(?4ZIG45H_8(O[S_F/\*/L$7]Y_P`Q_A1[2(?4ZIG45H_8(O[S_F/\
M*/L$7]Y_S'^%'M(A]3JF=16C]@B_O/\`F/\`"C[!%_>?\Q_A1[2(?4ZIG45H
M_8(O[S_F/\*/L$7]Y_S'^%'M(A]3JF=16C]@B_O/^8_PH^P1?WG_`#'^%'M(
MA]3JF=16C]@B_O/^8_PH^P1?WG_,?X4>TB'U.J9U%:/V"+^\_P"8_P`*/L$7
M]Y_S'^%'M(A]3JF=16C]@B_O/^8_PH^P1?WG_,?X4>TB'U.J9U%:/V"+^\_Y
MC_"C[!%_>?\`,?X4>TB'U.J9U%:/V"+^\_YC_"C[!%_>?\Q_A1[2(?4ZIG45
MH_8(O[S_`)C_``H^P1?WG_,?X4>TB'U.J9U%:/V"+^\_YC_"C[!%_>?\Q_A1
M[2(?4ZIG45H_8(O[S_F/\*/L$7]Y_P`Q_A1[2(?4ZIG45H_8(O[S_F/\*/L$
M7]Y_S'^%'M(A]3JF=16C]@B_O/\`F/\`"C[!%_>?\Q_A1[2(?4ZIG45H_8(O
M[S_F/\*/L$7]Y_S'^%'M(A]3JF=16C]@B_O/^8_PHH]I$/J=4M4445SGL!11
M10`4UY$C`+NJY.T;CC)]*=67K\2S6MO$^=KW,:G!P<$U4%S22$W97-*21(D+
MR.J(O5F.`*=7/:G<R0:7=6%XV91'F*4_\M5R/_'AWJQ>WMQ'=JL-P6#3K"RB
M,;8]W^T>K<@_TJ_9,GG-FBL.+4)[F%T<C=;02?:EQ]YQD`>V<$\>U.^U7,;V
MK,Y@M&CCVLJ!E#'J&)Y';!H]D]A\Z-JBL:UDN!_:,TM\52*9D&]`57`7GU_#
M-0R:E>16U\JNS20&(QO)&%)#G'(_SUH]DV[)ASHWZ*AMHYXU83SB8DY!";<#
MTJ:LF4%%%%`!1110`4444`0),S7TL!`VI&C@]\DL#_Z"*GJM&Q.ISKQ@0QGH
M,\L_?\*LTY;@@HK.U1G>YL[0.T<=P[>8RG!(`SMSVS5>_M(M+A6ZL0T4BR*"
M@8D2`D`@@]>O6J4+VUW)<C9HK*?4YET^ZN`L>^&Y,2C!P1O"\\]<&G2ZC+#J
M$4+&!DDE\O8I)=<@D$GIVZ4>SD',C3HK'M]3NG6UFE2'R9YFAPN=P(+8/_CO
M2F#4+^.UN[EV@98YS$J[#D?.%ZYZ8S3]E+8.=&W165>ZG-;M?!$C;[.(=@.>
M=YP<TR74+^/[8NRV+6B"1C\V&4@G`'8\'G]*%2D_Z_KN'.C8HID3B6))`,!U
M#8^M/K,H****`"BBB@`J"TF:>%G8`$22)QZ*Y4?H*GJMI[%K=R<?ZZ4<`#I(
MP[4^@=2S3?,3S?*WKYF-VW/./7'I3JQ+ZWEFU\R6[[+B*U5H\GAOG;(/L:<(
MJ3U%)V-GS$\SR]Z^9C=MSSCUQ3JQ(;U;G5O.0B)TLW#J_P#RS8,,@_2J]Y?W
M0M[Q$N'91;K*DC1A&P6QQ[>_6M%1;=B>='1T5E74KV=Q:B0FY<1S/O88;@`X
M`&!^E-BN;N/[#-+.DR7;!3&J`;,J2"I]!CO4^S=KCYC7I&(52S$``9)/:L2T
MO;PVVG7,TX<7,GEM'L``R#SGUXI4O9I);F!IO.B:V>0-LV@$'!"^HY_2G[)W
M#G1M(RNBNC!E89!!R"*6JNE?\@FS_P"N"?\`H(JU6;5G8I:H****0!1110`4
M444`064S7%C;SN`&DC5R!TR1FIZK:8Q?3+1CC+0H3@`#[H[#I5FG+1L%L1S3
MPP+NFE2-?5V`'ZT&>)83,94$0&=Y8;?SK-LHHKC4[YKI%>>.3:BN,[8\#!`]
M^:S]31(/[3AM0!!]G5I%7[JR;NP[9%:QIIOE(<FE<Z:BL/4+V\L#<I]H$C?9
M_.1B@&TA@"/ISWJ<F^_M'[']MX>$R[_*7*D$#`]N>^:GV3M>X^8U:*J:7<O=
MZ;!<2`;W3+8]:MU#5G9E)W5PHHHI`%%%%`!1110`4444`%%%%`!1110`4444
M`5Y;^SAD,<MW!&XZJT@!'X58!!`(.0:PECN'UO4OL\-M(`8\^<2,?(.F`:MV
MLEU=W,SK<+%%!-Y?E!`=P&,Y/7GMBM94TEN2I&A'(DJ!XW5U/=3D4ZN?T^6X
MMK&SE6;,4ER8C%L'1G89SUSFIFOKO[&^HB51&LI7[/L'0-MQGKN[T.D[Z,2G
MH:S3PK*(FEC$C=$+#)_"I*QKB);*ZDN98HKBVFF4LQ`WQ-P!]1G'N*+62X']
MHS2WQ5(IF0;T!5<!>?7\,T>STNF/F[FS16"=0O`)(EE.];F*-7DC`)5P.HK:
MMTECBVS2^:^3\VT+Q]!4R@X[C4KD<=_9RN$CNX'8]%60$_SI\]S;V^WSYXXM
MWW=[A<_3-9.D6UI+X<A-S''LV,69@,CD\YJH#=3KHI*1R3-'+Q/G!&!@GKVQ
M6GLH\S7;_@D<[L=&\T<<?F22(D?7<S`#\Z5'610R,&4]"#D&L*UMC<:;;1PE
M#/92LICEY1V&01].>#VK4TR:.:TS'"(-KLKQC&%8'GI[U$H***4KENBBBLR@
MJ!YF6^B@`&UXW<GOD%0/_0C4]5I&(U.!>,&&0]!GAD[_`(TX[@RS2.RHI9V"
MJ.I)P!2U3U.U-W;JB.BNKAT$@RK$=B.XHBDWJ#V+,4L<R!XI$D4_Q*P(I3(B
MNJ,ZAVSM4GDXZXK%6\?S%M(84L[EYMDK*H91\N[(]21CK4EW#<?VEIT?VG]Y
MMF_>[!G&%[=,UI[/6S9'-H;%%8*:K<3I:Q[VC9T=G>.$R$E6V\``X]:DBNK^
M[N+>$2?9F>W9WW1<A@V,X/3_``H=&2W'SHVJ*P[B[GCOY(H"D;M<Q1-)MSN!
MC)Z$_P`J=)?7,`NHI)\B"9%,_E@E58`YP.IR<=*/9,.=&U4#7EJDWDO<PK+_
M`'"X#?E6=97\\,#/<B[NE>1A$RV_.T8Y(`&,Y[^E5IH9KG4M6@BMHI/,$:EY
M&QY>4ZXP<TU2U=Q.>FAOB1&=D5U+KC<H/(STS3JY_P`R6QNKM(V#2%;:'S'&
M0"<C<:DOKR\LDNX?/$CI`)DDV`%?FQ@CI2]DV[)AS]S<IKR)'C>ZKN(4;CC)
M/05F:E>W5O=R);X;;:-*$('W@P&?R)XK/EEN;E4<73RP_:8!$[PA1DGGC`)Q
MQ1&DWJV#G;0Z6BJ-C--]LN[6:7S?)V,KE0#A@>./I5ZLY*SL6G<****0!111
M0`4444`%%%9$6H2)!*54RR.\SKO?`5$;&<\^W%5&+EL)NQKT5AZ?J\QLH%:U
MF=BJ*KL2-Y.`3DC'OP34ZZI.\B$0HD(BD>4[\D%6V\<>WX^V.:=*28E-&K17
M/KJ,T5RTUP)"B'8H63[V%!Y7&"26'T/TYNG59#!Q:LLVUV*N2H"KC+9*Y[CM
M0Z4D"FC3HK%>ZN+-+-B'F\JT+S`OC<?EY/J>N*==:FTLD=O&K()9@J2*W)"R
M`/QV[_7FCV3Z!SHV**P[C4Y6N8)5#);E"R[7!+@LH!(Q@<9]?PJPFK,869[8
M1N!&5#2<?/TR<<=/Y4.E*UPYT:E%9VGZE)>2*CVPAW1B0?O,D@]P,#(_K4/]
MOQ#*F/YPN2`W&<D,,X[`9/M2]E*]K!S(UZ*R1K4A0$V4B9)/SY4;0I)/*^W;
M/7J:LV=^US#+));R0A!N&\$9&,]P/T_.ATY+5H:DF7:*PK;5YH+:&WEMY);G
MRD;[Q8L".2<`D=/?J*FAU"0/.P1F>1R4CD;:$547.>N.3TQU--TI(7.C7HK+
MCO);?3;92IEN&M_-8N^,``9)//J*ABU5[73HO,B:61?W9)?EB(]Q/3UXH]E)
M[!SHVJ*S)-2FCNO)^SDR%1E#(`J\,<YQGL/SIL.L-<7$$<5N-LFW):3#+E-V
M=N.F#C/K2]G(.9&K16+-?7C7>U8EVQW!"A9"-ZB,D[CCIDC_`".;%CJWVZ9%
MCMI1$R_ZPJ<`XR0>,>W7KVINE)*X<R-*BLK^V1Y19;<LP(0JI)_>9(V\#/`!
M/3\*#K#[%<6C`!E24.Q4H3Z`C)XYYQQ2]E/L'.C5HJ@]\XTEKN6,PDJ"H#`D
M9QCJ,=^],AU4M$[2VYC8+&54-G=O.`/;FCV<A\R-*BL6WU"9;N9906E>3:D0
M?*`X`QDCC[K'\^M3S:I-&=JVR,581OF7`#[=V!\O/'?BFZ4KV%SHTZ*R+35Y
MI#!'+:DNRJ96C#%4W#([8Z8)R>,]Z?#=W%U?1R1QXA\C>B^9]X,RX8C&!P#C
MK^%#IR6X<R-2BBBLR@HHHH`****`"BBB@`J*XMX[@1B0']VZR#![@Y%2UF^(
MO^0+-_O)_P"AK505Y)"EHBU?6-OJ$'DW*;ESD=B#[&F2:99RR,[PY9F#G#$#
M<.AQGK5*34[I/M$VR'R+>X$+#G<P)49'8?>HEU"Z@NM0D<Q&WM0/DVG<<KD8
M.?4CM6BC/9/^M/\`@$MQ-'['#BX`7'VC_6$'KQC^51_V9:%HV:+<8PH&6.#C
MID=#TK.;7'2"Y^>UFDCB$JF%LKUP0>>W'YU:N+J^MTAWQV_F33B-0"<`$$\^
M_%')-=0O%EB33K2221WA!,HP_)P?PZ9]Z8VDV95QY;`R!0S;R2=IR.I]J@74
M+AK=\M;QR13&)W;.TD8(P.N3GIFH!J5Y=+IS6_E1&X+A@ZEAE0?H<<4*-3N%
MX]C;HK)6_<,T,*EIY+EXU\ULJ,#)/T]!39]3N[:86LD<+3EXPK+D*RL2/J#D
M>]3[*0^=&Q168+ZY4W4,IMUE@*GS"2$VMGDCUX]:JO>->K9EPH>+4!&2H(#8
M4G(!Y'6A4F'.C=HHHK,H****`*T>W^TYP`=WDQY.>,;GQQ^=6:K1D?VG.NT9
M$,9W<Y/S/Q_GUJS3EN)$-U:Q7<7ES`D`Y!!P5/J#V-9R:9=)?QR2W'VN%#E!
M,Q!C]\#@G\JGUB#=93W"SSQO%"S+Y<I49`)Y`ZU5M96M5@6'[1=7$L`E=99S
MM4<<\YY)Z5K"_+HR7:^I;FTF"4RYEF5)'$C1JV%W9SGI[4-I,+2E_-F7]]YP
M4,,!^Y'%,353<E!96QGS&LC9<+M!Z#Z\&JYU":UO]0=XWD@C:/<2_P#JP5&<
M#\<T)5-@;B6TTQ$M[:$2,1;S&8''4Y8X_P#'J5M*@8S@O+Y<Y+-&&^4,?XA[
MY&:BN-6,$UROV8M%;%!))O`P&`.0.^,T^;4%MY;H$O(4:-5B"@?,W0`]\^]+
M]YO_`%_6H>Z(^D1-'.IFF9Y_+WNY!/R'(J633TD:]8NP^UQB-N/N@`CC\Z0W
M5VL.YK,*^>09AM`]=V/Z56COOMEYIDL3,L<J3;DW<$C`Y['!S37.^O\`7](/
M=-.&,10I&#D(H7/TI]%%8EA1110`4444`%5M/VFW?:"!YTO4YY\QL_K5FJVG
MD-;N0H7]]*,#/_/1N>:?V1=2S47V>,79N<'S"@CZ\8SG^M2UC:I`$O&NKN%Y
M[38!E&(,!&<G`^O4<\4X*[M<).Q?.GVQNY+HQCS)(_+?T9?<?A35TJR7I!GY
M/+^9B?E].35*]UK[/-*D4EOM@16(E?#2Y&<+^&.>>M%QJURGVN6*.)H+;8Q#
M9W,&4'\.M:*%0GFB7X]/MXI(716!A#!<L3][&<YZ]!1#IUI!+YL4*JXS@Y)V
MYZX';\*HW=_/#]IAN@,K&DJM`Q4X+8QDY_.K,=U=7-W,MNL(A@D\MB^=S'`)
MQCIUI.,[7O\`U_3"\25-/MT@MX5#;+=P\?/0C/\`B::NE6:,62':=K+D,>`W
M4`9JJ=3N/L[7PBB^QJY7;D[\!MI;TZ]J;+J=VD=W.$A\BUF*,#G<PXZ>AYI\
MM3N%XFK#$L$$<,>=D:A5SZ`8I]8.M7-Q<V&H+$L:V\!\MBV2S'@G'IU%79+^
M5/[4PJ?Z(FY.#S\F[GGUJ?9NU_ZZ?YCYEL:-%9D=[>74ICM4@'EQHTADSR6&
M<#'3ZU%%J%U$FH7-P8VAMY&4(JG=D`8Y].?2CV;#F1L45F/?7=LZI=1PDR1N
MR&//#*,X.>OUJ?39[JY@2>X6%4DC5U"$Y&1WS4N#2N-23T+E%%%2,K:9M.F6
MA0$+Y*8!.2!M'>K-5M,(;3+1@H4&%"%&<#Y1QS5FG+XF);%:ZL+6\8-/$&9>
M`P)5A^(YI#IUK]B>T6()"_W@G&?QJ@VH7BS7L21^9^\*0-CA"%!.[VYS^!%6
M+74U-M:^=O9WCC,D@4;59QQGZGTK3EFEN3>+9/=:?;W;,TP8EH_*.#CY<@_S
M%2FWC-V+G!\P(8^O&,Y_I5&YU)C`LEO'*%,T:ARHQ(I8`XY_GBI7U2%+83M'
M*$#%7X'[L@X.>?7TS2Y9V'>)9M;>.TMT@B!"(,#)S4M9\NJQ*LN%=-OF`.RY
M4L@.1P<]B:F6^5I&1(I9-@^9T7@'&<=<YP14N,MV--%JBLX:AY]Q:B+<@:9H
MY48#.0A;'&?8\&I9=2BAEE21)%,<;29('S!>N.?YXHY)!S(N452&IQ88&*42
M`J!&0-S;LXQSCL>OI3M+GDN;(2RYWEW'(`P`Y`''L*'!I7873T+=%%%2,***
M*`"BBB@`HHHH`****`*4VE6<\[SR1OYCXW%977.!@=#3SIMH9UF\D>8,'()&
M<=,^OXU5#W<CWTJ71`@D*I&R+M("J>3C/<]Z?'JL;*&*NV]T5$1>063?@Y-:
MVGT9'N]B==/MUMXH`&V12>:O/\6=W\S0=.M#<>>85\S=NSDXW>N.F?>HQJMO
M\S.LB(H;YV'&5^\/J/Z4K:@5:!?LDX:9R@4[01@9SUI6F/W1[:;9O<_:&@4R
M9W9R<9]<=,^]$FG6DDDCO""91A^3@_ATS[U!<7[6VHR)(LC0+`KDJ`=G+9)[
MXP!ZU(-4B;=MBF8!S&I"CYV!Q@<_C1:8>Z']E6@96$;!@ZOG>225Z9R:NU1D
MU2&.'S6CE"JQ63@?NR/7G^6:9<:@?M5O'"'">>8Y)"!M.%8E?7J!^5'+.6X7
M2V%CT33X\!;<E5Z*TC,OY$XJ>[T^VO#&9XRQCSL*NRXSUZ$>E1C4E-N9UMYV
MCX*M@#</49/3ZXIK:M`$D:-))%CA\XD`#Y2,CJ<]*?[QNX>Z2MIMFUND!@41
MH<J%)!!]<CFIH((K:)8H4"(O0"B"0S0I(T;1EAG:V,C\JDK-M[-C204444AA
M5:3;_:<`(.[R9,'/&-R9X_*K-5I"/[3@7:,F&0[N<CYDX_SZ4X[B99J*YMH;
MJ+RYXPZYS@]CZU+5:_G>&.-8L"2:01J6Z+GG/Y`T1O?0;VU&C3+,6QM_(7RR
MVX@DYSZYZY]Z='86\3PO&I!A#!/F)^]C.<]>E4Y[B2WBE5+X32I)&"I5=R9<
M`YQZ@^E6#J,18HJN`2R)(1\K,,Y`_(_E6C4[;D^Z+_9=H;>.%HRRQDE3N(8$
MG)Y'-2164$,R2QIM9(S&`#Q@G)_6JEEJF^QC:2*9YQ$CN`H!;(^\.<8X/I4M
ME>?:[N8HV8/)B=!C&-V[/\A0U-7N"<>A(^GV[W!G(;>9%EZ_Q*-H_2JNI:>9
M"TD*,XDD5YD5]K-M&!M/8YP>W2IDU2)X@Z12MN?8B@#+GGISQT/7%']HJLCH
M4D=PP58E3YA\H8YYQWH7.F)\K%TR*YB23[07"%LQI(^]E&.Y[\_6IXK:.*XF
MG0'?-M+\^@P*K_VK;EE"K(R,$8N`-JASA<\YZTXZE'\Q$4K*&V*P48=LXP.?
M7\*34V]AIHD:R@>2=W3?YX59`W((&<?SI(K"UBCDC6$;91A]Q+%A[DTL=TDU
ML9(R5.&&UNH(R"#^(JI9:IOL8VDBF><1([@*`6R/O#G&.#Z46FT'NB7FDQ_9
MG%I$!*RA&+,263()7)SV%,L]/E:3$ZS);1E'CCDEWL'4GG(SQTXS5I=5MV*X
MW[##YQ<C`5>>O?MVI1J4?EDF*4/N"B(@;FSTQSCG![]JJ]2UA6C>Y/';QQW$
MLZ@[Y0H;GTSC^=2U4TN>2YLA++G>7<<@#`#D`<>PJW64KIV9:V"BBBD`4444
M`%%%%`!5*33[)XDMI%!X;:-Y#$'[W(.<<\U=KF$FGP\L=XTD\"2L=P!(+.`%
MZ<?=_7C%:4XM[.Q,FD;J:=;1E3&A4(^]0&.`>>@Z`<]!36TRU>,(5;`1DR'(
MR&ZY]>O>L^XOKX3W926-%@W'RLY?:O.<;>_KGH?6I+B[O8[:WECR9+EF5$*C
MY21E,_0#G\:KEGIJ*\>Q:&GVZI(]SM<9D.XD@*K$'U]`.?:E-C974`3'F(N5
MW"5B>>H+9S]1FLF[NY[S38W?`6Y+!%91E5V[<CZD_D:M+.]GHT=U$&8&8NRJ
M!EPSGC_QX?E5.,DEKK<5UV-&6SAE+%P?F0(<'L#FF_V=:B<3"/#A]^<GKSV[
M=<_6LN6_NH9`DMR%EC8!D"K\XV;BQXZ=0,>E3V<]^;N.VFEWDQI,SA``%P05
M_P"^OTS4\DTMQ\R;V+3Z39MN_=LN[KASQUZ#MU[5'?Z<98<6Q"L64L&8C(4<
M`'!Q^1JG=:A=+),T<O,3.7A"CY$7D-T_BQ^OM3?[0O\`SBSR1Q*%\SRG.&*$
M$]-IS@8'4<@YJE"IO<3<=K&M;6:Q,LTAWW&S:SY.">,X'09QVI%TZU602"(%
M@7//J_WJI71N%TFW::\>-WDC,DB@+M!QD=.G^?:JZ75U)<7#03*B"Y6(#RQ\
MQR5))[\`>G0?C*A)ZW'=+2QJQZ?;1E2J-A00`S%A@XSU^E-DCLK.U:*2588I
M`5S)+[=`2:S/MU\QBC6>-<L^UY<+YN'*@<*>PZ#'6KVJO%/I4FTAUD81@CU+
M!3_6AQDFE)A=6T');Z?=-NC=)6P"#'+R`..H/3K4CZ=:O$8W0E2S-PQ!R>O(
MYQ5*9I(]5>2!PH#PPE`HY!))_1LT65W=3BY>6:-5",=BG+1'MQMXX]2?RH<9
M6NF%ULT7);>QO@8&*2&(;2J2890>QP<X..GM0^EVCN7,1#$YX8\'CH.@Z"LB
M&[EL+-8?._>!(6P5&<'+.>G(QD9]O6K"WEW$A6>X&,1;YB@'E;@2Q_0=?6J<
M)K9BYD]T:)M+::=YP=SD%&(;IP`1]>*JVFG7%MJ+3+*HA;J,YR,848QQC`YS
MSZ57@DF2RMEBN"IF::9Y-H)*Y)SZ=Q2QWUY'$[2R*Q\J%BQ4`1%R03]`!GFC
MEDKI/R"Z-$Z=;&=IMK!W#`X<XYZG'0'BG064%N^^)"IQC[QQ^73/O65!>7CS
MQQ).TJSLZI(47Y0C#)X'<9_2K"75RVH#$NZ)II$$>T?=5?7KG</UJ7">S8TU
MV+,.GQBT,4RAF>0RN5)7YR<Y!'(]*:^G6,S.-N64;6`D/!Q@$C/7!ZGFLN&\
MN+F\M/,NW2-F5FV@*`Y#9CZ<XXX]S[8F\^>"\GGB.]9)9,Q!1\VR/'7KG*@?
MC5.$T]Q778U;BTBN;7[-(#Y?'`..AR/Y4ALH"LBLFY9`H8$_W>GTK&&H7GG9
MAN?M"2%8EPB[5D92<\#H/KZU<M;F[DU1XGEC\N,E3&3\^`.&QM[GWQ[5+A.*
MW'S)EA=*LU#`1M\V.=[9!!)SG.<Y8\YIYTZU,@D,1+#U<D'C;DC."<<9K/%_
M(UL)6N_+9W"RKM7%L.?;KQCGUZ5''?7[#?O+;)(T$8109,D^O0E<'MS3Y)]Q
M7CV-2+3[:%U>-&!48&9&.?KD\_C35TRVC<-$K1G<I.UST4D@#G@9/058@=Y(
M@TD31,>J,02/RXJ2LN:7<NR"BBBI&%%%%`!1110`4444`%5[^T6^M'MV8J&(
M.1[$'^E6*J:G=2VELLD*"1S(B!3WR<?G3C?F5MQ.UM2-],1[>YA,C`7$PF)Q
MT.5./_':?-ID$T\LC-(!,N)(PWROQ@$_A5>+6%FO=JKBU\DN)"IRS`J,`?\`
M`L?6K+:E:+&CF4X<,5`1B?EZ\8R,5H_:+^OZ[$^ZR*32EDM98&NKAQ(NW+ON
MVC.>!5FZM5N6@+,5\F42#'<@$8_6FB_MB,K+N!?RQA2<MMW8_+FJ]CJD<\,3
MS-L:<Y10C``'H">F?Y]J7OO4?NCO[*C\QI/-D5S.9@RX!!(`(^F*1=(A2"*)
M)9U,3LZ.&&Y<YR.G3DU))JEK&K-N=@KA/EC8Y)....?PJ3[;;YQYF#YGE\J?
MO;=V/RHO4"T2%=+A$3HSR$F8S*X.&5CZ&FG28B58RRO()4D:1SEFVG('L/I4
MHU.S,8D$I*GH0C<\9STZ>]21WD$LQBCDW..N`<#@'KTZ&B]1!:)!-I<<\T\K
M2.K2F-@5P"I3."/SIHTF)7#+-*3]H%P=Q!RV,?K4S:A;*[IYA+H"<!2<XZ@'
M')]AS2Z=</=V,5PX`,@W`!2,#TYZ_7O1>:5PM%LLT445F4%%%%`%:/;_`&G.
M03N\F/(QQC<^.?SJS5:-2-3G;C!AC'49X9^WXU9IRW$B&\A-Q9SP`A3+&R`G
MMD8JA/HRS+;MNC\V*(1$R1"16`]C^/YU-?7DT5W#:P>2C2J6#S$[3C'`QU/-
M2R7L=K%']M=8Y6'*IEOJ1QG'O5QYXI6$^5[D"Z8\+A[2Y$#E`CXB4JV,X..,
M'DTVYTN2:/4%\U<W>S!(Z8`'/Y58FU.S@($DZC*"08!.5/?BGF^MA'+(9/EB
M;8_!X/'&._44^:IN*T2I=:8\Z:BHD4?:]NW(^[@`?TI\VF>?-=.TFWS6C=&4
M<HR]#4S7\,43R7#+&!(8QAMQ8CV'?VZTCZE9I$DK3#;)G;\I)..O&,\47J=/
MZ_JP[1(I-/N)EB,UXLCQ2;QF$;3QC!7/XYIEII3VTMJ?/#K;^;U7!.\@U9;4
M;1)%C,P+,`1@$C!Z<C@9JU2<YI6863"BBBLR@HHHH`****`"JVG[1;OM)(\Z
M7J,<^8V?UJS5;3U*V[@X_P!=*>"#UD8]J?V1=2S5.ZTZ.Z=B\TZJXPZ(^%<>
MX_PJY5-]2MXKR6WN)8H=BJP9Y`-V<^OIC]:<>:_N@[=0ETZ)Y?,CEF@8@*WE
M/M#`=,TR;2HY8[Q#(P%T%![[<`#^E);:M#-$97*(F.,-N)^=E&`!SG;Q]::N
MKPM=E2Q$!B5E8QL#DLP.>.!P.M7:HOD3[I)>:8EW++(TC*9(EC(`Z`-NS3VT
M^,W1GCFFB+$%UC?"N1ZC_"I;FZAM$5IF8!VVKM0L2<$]`#Z&F'4+4",^<").
MA`)[XY].>.:E.=M!VB1'2K=I"2TOE%_,,.[Y"V<YQ]><=*233$DM;R`R,!=2
M%V./NYQT_*FWNK0PQD0MOD\P1?<9@IW8.<#G'I]/6K"WUN93"909!G.%."1U
M`/0GVJOWB5P]W8@N])ANO.'G31+-S(L;##'UY!]!3[G3(KB25S),@F7;(J-@
M/Q@9H.K6056\[Y6&X'8W(XYZ=.1S3SJ-J%9O,8[3@@(Q/UQC./?I2O40>Z1O
MI<1=7CEGA<($9HWQN`Z9IW]FP^9,Q:0I/G?$6^0DC!./6GG4+42*GFC+!2,`
MD8;[O/09H;4+56=3)]PX)"DC.<8!QR<]AS1>8>Z1+I<2[BTLTC>68T:1MVP'
MKBK-M"+>VB@4DB)`@)[X&*=#*D\0DB;<AZ&GU+E)Z,:2Z!1114C*VF;1IEH$
M)*^2F"1@D;1VJS5;3%*:9:*<96%`<$$?='<=:LTY?$Q+8@BM5C%QAB?/<N?;
M(`_I59-(MT:!LL6B14S@'=M&!G(_EBJ]YJRO#>1184K'*J.LGS!E4YXZCIP:
MD&L1H^QU!1,JS;P6R%W$[?3@C/K6O+42)O$G_LU`JHLTHC1U=4)!"[6S@<>U
M1RZ/#,C(TLH#&0G;C^,Y/4'\Z);Z[2.`BUC#S2!%5I>VTGD@<'B@Z@[9;RC'
M$L_E;PP))#;>F.E"]H'NBR:3')!Y32OC=*V>,Y<,#_Z$:D;38V\P"65%E7$B
MHP`8XQGIG.!VIBZA,UH+D6Z!)-ICW2XW`^O'!]AGK3=.NS=W<T@+"-H(G5"?
MNYW9_P`^U+W[-OH'NCX=,CAF2199&*R&3YL<G9L[`=J;+I$,CROYLH,JR*1D
M8&\8/;/8=_TJ.#5R]NLLUOY9>,21JK[MP)`QT&#DBGOJOD.4NH1%L^^0^X#@
MD=N^TCZ_6G:I</=)7TZ-Y&D\QU<A`K+C*E<X(_[Z-36ELMI;B%69P"QW/C))
M))Z>YJA_;:&-"(@K-A2'?:%<YRI..,;3^GK4UOJ37,R1PP9!0.S%QA<L5/U^
MZ:3C.VHTXWT+]%%%9%!1110`4444`%%%%`!1110!1;3(WDF+3S^7.VZ2($!6
M.`/3/0>M..GQ_:/.#$'S1+M'3(39CZ8IAU%A)<)Y*J83@!Y-N[GKTZ>XS4,.
ML-(SN8%6".$RR'>=PP6!P,<\J?2M;5+$7B3'2+0S2N5R)=VY<#&6SDYQGOZU
M(U@&2,-<3EXWW(Y(W#@C'3T-49=2:X\@(0C"8;O+DW`J4<CD?3I[4VSU*<6M
MLB+YTC&*,^:^.3$&SD`G\ZKEJ6W%>)H7.GQW,S2/)*N]!&ZJ0`Z\\'C/<]*!
MI\8@,09A^]:56'!5B2>/S-1PZG'->FW4+C<R`AP6W+URO8<'FJ]]/)+#>E9'
M01S10KL8J?O(2>/7=C\*E*=U%C;CN3S:/!-'M:27)#!VR,ONQDG(Z\#IBG_V
M;'YZ2>;+M5S)Y>1M+$$$],]SWJG?&2R$\,,\K(UI+)\SEF1E`P03SW_2F6[7
M3PSPQM.C[8W1)GRY7/S8;)Z]!SQ[55I-7N*ZOL7O[+C\M(_/GV1D%%R"%&,8
M&1TP>](ND0!41Y)9$2(Q*K$?=*[>P]/PJ.VN0);38\I2;?&5E.65ER<'Z88?
ME6G42E*/4I),C@B\F)8_,>3'\3XS^E2445F4%%%%`!5:3;_:<!).[R9,#'&-
MR9Y_*K-5I%)U.!N,"&0=1GED[?A3CN)EFH[B".XB\N0'&000<$$="#4E4=3D
MEC>S\G)9KC:5W;0PV-P?:B*;>@/8&TM'WEYYI'?9EW(SA6W`<`=Z>-.A$N_<
MY4,S+'GY58YR1^9_.JIUN,!<HH."T@:0`C#%3M_O<J?2F7VI.2]NH\M@Z%72
M3.0)%!!].O3FM>6HW8F\2PNCP+&JB68E=NUB02`N<+TQCD]JEL=/CL2WEN[`
MHJ`-C@+G'\ZI27MW*T++&JXO&B4+*?G`#@[N.!D`]ZL#5[86IEE=4D"LQBW`
ML=I(./7[IHDJEK`G$<-+B!9O-F\TL&$F1N4@$>F.A/7--DTB&5G:1W9F8/N(
M!((4+W&.WI1=:A-:6WG36R`C)*^=V`SQQR?;VZTV35BID(@'EI((@[2!<L0"
M.W`YY^G>A>TW0>Z2-ID1#@.P#"(8`'&QLBB32X9%="\GELV\1Y!56SG(R/7\
M*<NH*VGFZV=#MV@YRV[;P?3/>FO>W"'R_LJF54\QU$O`7M@XY/!]*7OC]TDB
MT^VB5<1(SJ"!(47<`<]P..IJ%='@6-5$LQ*[=K$@D!<X7IC')[4PZL68F*WW
M1;XT#%\$EP"O&/\`:&::VL,H_P"/8'8DC2_O/NA&P<<<_I3M4%>),-(M_+AC
M=Y7CB0HJ,1C!!'89Z'%$>E011%$=U.X,K@*&4C.,8&.YZYIDNK"*696B!"1/
M(I5\D[0"0>..H]::VL>3(1<0>6J@%F#[L!@2O;OM(^N.N:+5&'NEZTMEM+<0
MJS.`6.Y\9)))/3W-34R)G>)&D38Y4%ESG!],T^L7=O4M!1110`4444`%%%%`
M!3&,>X!MNYN!GJ<<XI]<ZJSP6@AA%RCL92Y;=D,6`&"?][J/0FKA#F)D[&]<
M0I<0M%)G8WW@.X]/I4F`<<=.E8$AO4DNXXS=N&#QPL-S8)V\D]L<D?7BGRC4
M/M5PZ2S`JV!&(V(*<<@YVDXR>F<U?L_,7-Y&NKPR.\8VEHB`PQ]TD`C^E2!5
M"A0!@=!BL)K7?8R-LNMDEVKD'?YFT8'(^]V_#\*LV_VHZEEO/&'??NSY?EX^
M7'8GH?7K2<%;1@I&C')'.C;"&4,4;CN#@BF*(8;L_,?.G&0#Z+C@>PS^M8T*
M74<1:!IOWL;2,O/&Z0'@>NTM[T*MWY[O&MP51?W9?)D$;.N>O.<*QYYZ4_9[
MZAS>1N++'*TB*<F,[7&.AP#C\B*(Y(YT;80RABAX[@X(K%:VWZ:<QW6Q[L.1
M\_F%00,G^(\`?H>U0A+Q(XS`\ZI,K22C:S;0SY&%&#GKTYYH]DGU#G9TE-"(
M.B*.<]._K69=+<)I4(#W$LH;)V*RLXY^4X)([<Y[<U7E&HBXG=99P5.`@C)!
M3@9!SM)QD],YJ53OU&Y>1N``#```]J1F3<$8KN/(!ZG'?^58RF;SS'"+W9))
M$0TF_A0<MR>F>F/I5:6&>=8&E:[=&(DD52Q(!DR,`>@']>U4J6NK$YG1[5SG
M:,YST[TQUCN8'0D-&X*':?P/(JA9^<VHW*N[^1;N=N6)W%@#@_3^M5+<W<IB
ME:2=6WPC9D@<_,V1]#BDJ?F/F-EWBB$<;D`.?+48SDX)Q^0-2``$D`#-8$EL
M3J$V1<J3*\Q8%L8"8&#^)Z?3M4T"WSW=MYTTJA8XS@1L5?CYLD$`'.>H/M0Z
M:MN)2\C9(5CR`2!^AH"@=`!6*WFOK-PT!E,JR1ID`B/8`"P)Z'[Q]\U!$M_+
M-&CO=*IC+2`EE)D`.0#V7)7IQQQ1[+S#G\C8N'M[>=;B5FWLNQ`%+''4X`&?
M3/T%22300R*LC*C$,XR,<#&3GMU%8D-LZ)`;83>?!9-L5RP^<G'0^X/'T]!2
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MK(L****`"BBB@`HHHH`****`"J]Y;FY2-0P79*DG/^RP./TJQ5>]NOLD*R>4
M\A9U0*N,Y)QWIQO?0'MJ0W5@\T_F13>3^Z:,%1W+*?Z?K4<&EM#(C><K!?-X
M"X^^0?4],&I%U2(\^3,%\WRMQ48W;MN.OJ:=_:41.V.*61][KL4#/RG!/7IF
MM/WB5B/=W*]KI#6_D#[0"D3+(5V=6";.N>F*1=(E$5M&;H8@$>`4R,JV<CGO
M3[?4P$G\XL[1/*3M7[J*Q`S^6!]*MK<AK07`BDP1D(,%OT./UIRE43U!*+*Q
MTZ3[,+=;@".-E:+,?*E6R,\\]/:D;3':;>;@%3)YI79U?9M/.>GM0=8@$8<1
MRGY7=@`/D"G#9Y[>V:+C4";RWA@W%3,$D?`V_<+;?7/0T+V@>Z(^E%K:T19B
MDEO'Y>X9PPP`>`0>WK5BPL_L:RJ&!#N&''0!57'_`([1-?10S^4RN<%0S@?*
MA8X7/U-1KJT!W$I*JA7(8@8;:<-CGUJ??:L/W4Q!II#@>=^Y1VD1-O(9LYR>
MX^8U9M(3;6<$!;<8HU3/K@8JH-63]ZTD<D2PHS.C*-W&/0D=ZD_M*/E?)F,H
M?9Y04;LXW>N,8YZ_K0U-[@G%%VBJEOJ$-S.(X0[?('W8&,$9'O\`I5NH::W*
M3N%%%%("M&!_:<[;ADPQC;SD?,_/^?2K-5HU8:G.Y4[3#&`<<$AGS_,?G5FG
M+<2*.I))*GE?84NX6'*EPI!_&L_^S]0@^S2B225UA\IQ&ZAA\V>K@@CM^`K9
MN+B*V4-,X4$X`QDD^@`ZT6]Q%<H6B8D`X.000?<'FM(SE%;:"<4V9NG6+VVH
M1DQ,$2T6,,Q#8.XG&<#MBGSZ?(^LQRI_Q[/B28>KI]W^8_[YK4HI>T=[ARJU
MC$BL[J.7[0D(=HKN9_+8XW*W0@^M/NK>^DNH[R..1&,1C:*.1-R_-G.6!'/?
MZ5L4R65(8VDD;:J]33]JV]@Y58Q4L+JW-N+2!XY$"J9#,"I4'D..,XYP0*W:
M1&#HK+G##(R,?I2U$YN6XTK!113#-&)UA+?O&4N!CL"`?YBI&/HHHH`****`
M"JVG@+;N`P;]]*<C/_/1N.:LU6T]62W<,I4^=*<$8X,C$?I3^R+J6:K):[;Z
M>X8AA(J*!CIMS_C5FJLU]'#<K#(D@W<*^!M)QG'7/0>F*(WV0.W4R[G2YH+=
MMC;RV!E%),>)&?<`.3]X#CFIHM/DN+2;($'FP>0%(.>&8[CGGG.<'FK,>JQR
M1ET@G)V+(%P,LK9P>N,<'K3%U-#<F3<3;M!&Z*%Y+,S#\SP*WYJEB+1"]LG\
MR![0L'-QO9G9G"_*W.">!SVQ3&T5<[A.V7!$N<X?+%N@(QRQ]:F?584C+&*;
MS%)#18&Y<#)[XZ$'K4MQ>B*%"(Y&DE4E8UP6'&3GG''UJ;U%9#M$B_L]O(\O
MS!_Q]>?G';?NQ_2@::0X'G?N4=I$3;R&;.<GN/F-1P:JJV5NTRR2.88VD9%&
M`S#CTY)]/7M4W]HQ.%,1^4F/YB,CYNW7KC^8I/VB#W2&32V>T@A$H!BM7MR<
M=2RJ,_I3I=-DDF9UG"!E12NW(8*&SGD?WOT[U(NI1M$)!#,5<@1<#][D9^7G
MT'?%.AU"*>=(8TD)9-Y)``7DC!Y]0>E%ZB"T2JFDND!C\X-\D"`[<?ZML_K4
MCZ8[1M$MP5B\PR(-O*L23U!Y')]/K4\U]'#<K#(D@W<*^!M)QG'7/0>F*BCU
M:!XB^R5?E1U5@,N'.%QSW/%%ZCU"T2S:6_V:`1[MQR6)YY).2>2?YU-5/3+B
M2YMW>4$,)I%`8#*@,0`<>E7*SE>[N4MM`HHHI#*VF`+IEHH8,!"@##.#\HYY
MJS5;3%9-,M$=2K+"@((P0=HJS3E\3$MBM)86TGFY0CS5*N`Q`.1@G&<9YZTH
MLK=9/,"'<1@_,<'C'(Z5ESZA=PWDH203!'V^4H&,$[5'3(.XCZC)%6))[B&]
MAMVN2Y:+&%49+8.6(QT^G'KUK7DGW)NNQ:_L^V\KR]C;=P8#>W!'H<\?A3EL
MH5C"`':)?-QG^+.?YUBQ:E<K#;@3O(WE*2S;/GD_B0DXZ>W/-3Q7-Y*R#[45
M$HG/"+\NQ\#''OSFFZ<UNQ*4>QH_V;:A=HC8`,&`#L-I'ISQU/2BTMK6VDD6
MVP&"JK*'SM`SCZ=3533+Z6YN5$L@;S(%D"(!A,@9SW!R3['\*JP32P;PUT88
MWGF)F*J?F#X"]._/]*7)+5-CNMTC1L=+AM;,0NHD8H$=B2<_3/0>PJ7[!;>2
M8O+RK,&.YB22"",D\]JJV,]W=7.)7\H)#$[1A1U;=D<\CI3+J]GCN+@";RV0
M@1P[0=ZX&7]3C)Z>E#4W*U]0O%+8O-8V[+(ICXD?S&()!W8QD$<@TZ*UBBE\
MQ`0Q0)RQ/`)/?ZFLP7=P\D<45UYD3SJ@G"+D@HQ(Z8X('..]0R:C>16ID,VY
MFBG(R@X,;``_CWH]G-Z7#F78WZ*QOM=W%,1YIF"W)@V%0-P\O>#P.N>*B@O[
MR9X4$V!)(JLQ5<J2K%A@9QT&,\^M+V3WN/G1O4UW6-=SL%&0,DXY/`K'FN9!
M%=+-<`R(&`@9!@@=&]>>OI5>\OGDF>`S;XRZX5@`5994&,#GH>_UHC2;8G-(
MZ*BF12),@>-@RDD9'L<&GUD6%%%%`!1110!5?3[5V=FC)9SDG>V1SGCGCD9X
MIJ6%DDFQ4&\`DKO)X8GJ,\C.>OO6?/?3P3W2FXD_UX&,+^[CV@[AGWXYXJ,W
MEPLS3]',$8=U"G"^8XW=<=/PYK=0G;<SYH]C6_L^W"J`K85MXRY.#@CN>F">
M*:FF6J1>6$.W*G[QR"JA1@_052M;R]DEAB9BPF.Y)`%.$4G=G''(V_BQHAO)
M%FM4\Q5C=F!C11DG>1G![<=NE+EFNH[Q[&E':01S&5$*L>N&./KC.,^]1O81
MR-<+(-T,Y5V4$@[ACG(^B_E66E_.MC"RNL)^SJ\4:H")GYROZ#ISS5E+NY^W
M?-)^[-UY'E[1@#R]V<]<YHY)KJ',F74L+9(I8Q&2)5V.68LS#TR3GO2)IMJB
M,@C)W``EG8MQTY)R*HRWLRZG/&EQN99HT2VVCE2%W'IGC).<TD5U=?V;:W$U
MUM6?!DEV*!$-I.?Q.!S1RSM>X7CV+WV6&WD27*QPP(V`3T)ZL2?\\FK=<YJ-
MY-)ILJSS>4AB?8VT#S_F('7IP`>/6KK7TZWQ@W_-]JVA,#)C\O/Y;N]#IR:N
MP4D:U%81NYI+>W=K]D9I5\\*JCR<J>.1ZX'-7;*Z>74+B)Y?,"Y*A0,*,]#W
M!^O7J*ETVD-23-"BBBLR@JM(!_:<#;AD0R#;SD_,G/\`GUJS5:16.IP.%.T0
MR`G'`)9,?R/Y4X[B99J.6%)FB9P28GWKSWP1_4U)12&51IUL`N$.5)((<@G)
M)(.#R,D\&FMI=HS;O+8'.[AVP/F#=,XZ@&KE%5SR[BLBM]@M_.$H0AA)YG#'
M&[!&<=.YJ2.VBC@,`7,;%B5;G.XDG^9J6BES-]1V14;3+1D"-&Q49`S(W0]1
MUZ>W2G+86ZQ21;"5=@QRQSD``'/7L*LT4<TNXK(B%O%]G,!7=&1@AB3G\343
M:=:LJJR,0N>3(V2#V)SDCV-6J*.9KJ.R*YL8"S':1ND20X/=<8_D*KOI,#W:
MR,,Q@.2A8\LS!CGU'!X-:%%-3DNHN5%1],M'+DQG+AP<.V/F'S<9QS236"22
MJPQM)3S`>=P3)4?F<U<HHYY=PY4%%%%2,****`"BBB@`HHHH`*BMYUN$9D!`
M5V3GN5.#_*I:P$T^Y55>*)E=XR90&P7S(&*YSUQD?C5PBGNQ-M&_17/C2KG>
M!#$ENDOF%QQ\H#9C''^>M6["Q>"QN$9)PTJX*LZ9)Q@D%>Y]3S5.$4MQ*3[&
MK58WT0LY[G#>7"7#<#)VD@X_*LG^S;IH8XS;JOR;4((`A;<?G(SC.,=,\YH;
M3[B2"-9+;S%<`@%A^Y)<ER0?8]L]*:IQZL7,^QMF:-9%1FVLV,`\9SG@>_!X
MJ2LBYLGFUF.X>W\V.-E`R1QP>>>V3^@IE]83W-XQ>W64&3*2,1A4V?=QU^]U
MX[U/)'34?,^QL1NDJ*\;!D89#`Y!%,FG2%X58$F5]BX]<$_TK.%I(FF6<"VI
MV(1YT`907&#UYP><$\TU;*Y6TLXD01RQQ2'(Z(Y7`_5C^5')'N',^QL45SZZ
M;.+B*1;,H@9?W;.I`_O,>>I[$9/'O5_28);97C>W,:EB0Q923T^]@\GD\^W/
M-$H)*Z8*3?0FCU")[QK;9("'*!R!M9@,D#GTJS)(L4;22$*B`LQ/8"L*729I
MX6E<S,YN7?R05'RDD<9&,D8Z]J;-IRI9W7GQL?D2*(R$$C)[8XZMC\*OV<'L
MR>:78V;)E>(LD$D(9BV'QEL\YZG]:L5@7^F7#R.L,6U-P"NA`Q&5"[`/J23_
M`(U(-+'GAC;G;YTA([%`N`/H>#[TG"+UN/F>UC;HK!;3[I[>VBEA,P6&)068
M8B8'YS@GKCH1Z4BZ?<A5>.-E=XR91NP7S(&*YSP<9'XTO9Q_F#F?8W(XDC+E
M%`+MN;W.,9_04LDBQ1M)(0J("S$]@*QX=.;^T(Y?L\D$2X,:H8PL?J#U/)].
MN:AUBREE>=Y8P49P%E)'W2H4(!_O'=Z<"A03E:X<S2V->WF25A,;>2)Y/D!=
M1E@!D=,X')ZXJ2*=)99HU!S"P5B>F2`>/P(JEJ%M,QABM$V1I&W"G:.J_+[9
M&ZJ"Z3,TVXV\D,3N66.-HQY9X&3G/8#D<]?6FH1:NV#;6EC?D**IDD*A4!8L
MW\/O4$]]'$P0))*Y/"HO)&`2>>HY'2LAM,EDMW'D'?+`V\$]6+A@.>XYQ]:B
M;3S/>2C[*%DVC;&V/D0LJ\?0*W3U--4X=6)R?8Z6JLE]%'YV5<^5(D;8'4MC
M&/\`OH5FP:==)'<,?-\]^&)=0LGS9.,<],@9/&:?'8-]F$?V7R4ENQ(T8(^5
M1CT/^R/SJ>2*W8^9]C9JF+JWCMKJ\5&"H6\P]V*<<<^U9O\`9URT,<?DG&TB
M,E@/(8N3NQ]"`,>E(VGW$D$:R6WF*X!`+#]R2Y+D@^Q[9Z4U"/<')]C=1Q(N
M1D<D<C'2G5SRV<JA[F='5EE1][-]U02[']2*K6EF+BV9X[??=@1[HV0+ZD%]
MWWL]\>GJ*?LEO<7.^QU5%(HVJ!TP,4M8&@4444`%%%%`!1110`5#=6ZW4/EN
MS+A@P9>JD'(/Z5-10G;4"FNG1BT:W,DAS(90^1N#;MV?3K2+ID:!3'+,DBLQ
M\P$;CN.6!XQC-7:*KGEW%RHHQ:8D+N\4LB-(S%R,?-N)/YC/!IXT^(6!M`S[
M"22V1G.<^F.O;&*MT4<\GU#E1G#1X@LH$LA$D<D9SCC>02>GJ*D_LV(7"3"2
M0;7$FP$;2P7;GIGI[U=HHYY=PY45)M.@FNQ<L"'&,\`@XZ=1_+%5[C3"+;;`
MQ9U610#QD2,"WX^E:=%"G)`XHR+;2VDM9(IAY*F-HD`500IP22%XSD'I5F?2
MH)Y)9)"VYW#@X!VG:%[@CH*O44W4E>XN5%2.PBCN(Y0[GREVHO&!QCT_3I5N
MBBI;;W*2L%%%%("M&I&ISMQ@PQCJ,\,_;\:LU5C_`.0M<?\`7"+_`-"DJU3E
MN)%&[5XKZ"Z\MY8T1D8(,E2<'=COTQ^-1SW$KSQ31Q7*Q!9$(V')8A=IQ^?)
MK2HJE+R"Q@;+YH?+/VEI'M`.2RA'V>O0Y/XY]JF82"*-5%Z(A%A-N[?YF?XL
M\XZ8SQ6HDZ/<RP`'?&JL3V^;./Y&I:IU'V)43#C6\>53/).&-R(W",0NWR@3
MC_@7>GS)+/H2K+YK.)P.I#%1+@'UZ<Y_&MFF&5`5&<Y;;P,\_P!*/:-M:;#Y
M3*7[6MQUN/,#OYF<^7Y?S;<=L_=Z<]<TR.&=DLM\UU^\MF>7]XP^?"X^G>MN
MBE[3R#E,%&O0D;;KALQ6\T@Y)SN^<`?0?='Y4T_:?M!D>.Y;*S`8W!@IE7'3
MGIV'.!Q7044_:^0N3S,&(7A:"1UN#(L<L:D[@-^_Y"WMCN:=(;H0MY+7:J1&
M',F=P?>N=N>V,YQQ6Y11[7R#D&11B*,(&9@.[-D_G3Z**R+"JVGJ5MW!Q_KI
M3P0>LC'M5FJNF_\`'L__`%WF_P#1C4_LL74M52GTR*:Y\\R2*VX-@$8R`1W&
M>A/%7:H76I&WEG0P\11&0%GQOP,\<?A_2G#FO[H.W43^R(L1?O9!Y4<<:D8_
M@S@G(QWI8])@C4+OD*B-8UR1E=K%@0?4$_I4%[?3&[@A@3YED1L>9M#ADDX/
M'3Y:D&J.[QHEO\S;E^=\#>I(*@XYY'Y5HU4L3[I#?:9(1$(E:<;S)(S;2S/@
M!<@X&,9_(8J]+:FYBB,KM%.JX+1$<9'S`9!XJM_:^^W:>*W+(I56);&UCU!X
M.,<9/O0=4=#=/+%&(82JAA)R68*1VQCYNN:&JCLNP>Z2+I%LKPL-V8D5.0IW
M!>F<C^6*>FFPQQ>6F0IF\X^YSG'TZ"JIUH[6*0*YC1WDVRY`"XS@XYX;VI\F
MJO&65K8`J5))D^4*V<$G''3']:+5`O$D;28'MQ`TDK1H08PV#Y>!@8R/YYIZ
M:=$DD#AWQ#G:O`&3G)X'N?:KE%9\\NY7*BE/ID4USYYDD5MP;`(QD`CN,]">
M*:NE0A%4N_RPQQ*1P1L.0WUS5^BCGEW#E1#:6RVL)C5W?+,Y9\9))R>@'K4U
M%%2W=W8PHHHH`K:8I33+13C*PH#@@C[H[CK5FJNE?\@FS_ZX)_Z"*M4Y?$Q+
M8B9([AHWW;O*<D!3QNY'/TYITLT<*JTC;0S!!QW)P/UK(Q<33*CO.J;KG.PE
M>C#;R/;I4'^E3K;/<K<M*98&4*K;`OREB<<`YW=:U5.^[)YCH:38O]T<>U8:
MF]:".-FND:.V*2/M8Y?<OY\9Y';.*;(+A5DG*7:.;-A&`SMAQNZ_AMQGG\:7
MLO,.?R-T,@81@J#C(7V^E-66/SV@4@2!0Y7'8D\_H:RYQ-"553<RJT.6PQW`
MEE'4<^IP/?%,TZ66*>26[67Y80A9D.3^\<#KUX(H]GI<?-K8VL#).!D]32UE
M:J]PMS$8$N,KM;*;BI&[YA@<9QZ_A5=#?!-T+3-+)'<<.20"K_)@'@<?G25.
MZO<'*SL;*RQRR2(I#-$P##'0XS_(T[8A&"JX^E9^D(5DO&"SA'D4J9@P8_(H
M/WN>N:TJF2Y79#3NA-J_W1UST[T$`XR`<<BEHJ1B$`C!`(]#00",$`CWI:*`
M$551=J@`>U+110`4444`%%%%`!28&<X&>F:P;F6\5[PQK=*##)C.XX<$;2#T
M&1GI_.I6$Z7,L3M=&T27JA9GY12.1SC);I6OLO,CG-:&6.XB2:([D=<JV,9!
MIX``P``/:LA8YX_#]HBB9)%5=RJK9/'0XY%-D>_^U@[)4&%*?,Q`7:-P.!C.
M<\D_2CV=V[,?,;(`48```["FCRV9@NTLI^8#J#CO^%9(6\ATRUN8GFEN"B[T
M=B<EEQT[8)!_`TC+<QM)$6N'@CE179,[ROE#D$<GYNN.:/9^8<WD:T<"1RRR
M*#NE8,W/<`#^0IX`48```["L4?;3=,`;A5YPQW'Y-O'&,;L\\G.:OZ49?LF)
M1)N#$9D+9;W^;D?0TI0LKW!.Y<HHHK,H****`"BBB@`JM(I.IP-Q@0R#J,\L
MG;\*LU5D_P"0M;_]<)?_`$*.G'<3+5%%%(84444`%%%%`!1110`4444`%%%%
M`!1110`4444`%%%%`!1110`4444`%4QJ5M]I>W:51(KA`!D]>F>..>/R]:N5
MF1:6ZO(SRAM]R)NAX`8L!^9JHJ.O,)WZ%N:]MX)DBD<AV(``4G!)P,X'&3ZT
M2WUM"7$DH4H0K9!X)&?Y5#)I[/>&838C:19&0IDDJ,#G/3@=J@N=-%]?7#R;
ME3RU1<C(+9)W8[\$#\ZI*'5B;D6SJ-JL(E,AVDD8V-NR.ORXS^E`U*T*R,)?
MEB7<YVG`&`?3W%57T@^4!%+%"Y1XV,<("D-C)`SP>!SS4HT\BRFMPZ_O9-Q.
M.V1Q^0Q3M3[A>1)'J5I+*L22Y=F*@;2.<9QT].1Z]J!J5H9&3S>5!8G:<8'7
M!Q@].U,_L\F<2,XQY[3$#OE-H_*J+:,WVFT1Y#(D8"Y";<(H/!.>2<C/3I0H
MTWU$W(TY]0M;?9YTNW>N\94]..>G'6H[K5;2U$N]V+1`DJJDY/H#TS1>6+73
MRG>`'A\K!'3G)_3%0SZ1YWF*9\(6=T79]UFZY.>1R>..M$53TNQMRZ$MUJ`@
M%JX5@DS'=F-BP7:3T'.<XJ:.]MY)A$DH9R,C`.#QGKTSCG%175G-.\#K<JC1
MJRL?+SNR!R.>.GOUIEEI,5E/OC$94?=S$-XXQ]_TI6AR^8>]<D_M2SSCSC]X
MK]QL#!P><=,]^E-_M6TWSI(Y3R202RG!P`3@]\>G7BH5T=?W!<PNR+M</$'!
MY)R,]#DFH4TN6YA8S.$7SG=(]F,`L1R<\_+TZ=:KEI]Q7D7VU*T3&^;:"-V2
MI``]^..AZ]:4ZC:A$8R$!^F48$>Y&.![FH9]+26\>X_<DN!_K(0Y!`P,$]![
M5$NC*#"7>.7RU*D20AAC)("Y/RXSCOQ2M3[A>1+-K-E$.'>1MVW:D;$D[MI[
M=C_3U%.NM6M+42;V=F0$D+&QZ#IG&,_C4']DR$0$3J'A7@[,@MNW'C/L*631
MV<.OVD>7^\V#R^07()R<\_IP:=J7?^ON"\RR-0AW,'.P!4;D$'YC@#&.O3\Z
MDBNH)Y7BC?<R=1@XZ]CT//I51=+=M12[FFW;26VJ,`G:H'ZJ3^(J2QTV.S+X
M\LY!4,L05\>[=ZEJ%M&-.1'<:O%NCBM6WS22!`3&Q4=?FXZC@]/?T-))JH2&
M4`9E@E2)V:,JA)(!(_,TVWTQ[:]MF+>:L:;0VT#:%!"CKU^9N:G^P/YI;S5,
M9N!-MV\\#IG//./RJOW:%[Q(FHVDC1JDN3)T^4\<XP>.#D'@^E01ZAYNI/"I
M5(XW\L[HVW.VTL<'H`/Q_44RUT98+@3,8G8MO;=$"P;)/RMVI?L$TIDD$GD2
M&:0Y*[LJ1M!Z]<`46IJ]F'O%A=3LV:-1-S(%*_*>C?=[<9]ZA?47DO4@LU61
M<%I'92`!N4<'H>"W3/(%"Z7M`7>-@:+`Q_"@X'YT^RT][5CF?>JQ+#'\F"JC
M/7GD_ETI?NUJ@]YEFVN8KJ/?"Q9?4J1G\^WO4M5K"U-I"T9D#Y8L`J[57V`R
M<#_&K-9RM?0M7MJ!&1@]*CA@A@4K#$D8)R0B@9/X5)12N`4444`%%%%`!111
M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110!6C9CJ<Z%CM
M$,9`SP"6?/\`(?E5FJT9']ISKM&1#&=W.3\S\?Y]:LTY;B1E:K;7$US$\$`8
MIM99`1N!#9(Y/'&>G7O5=]/N3EH5,<[S3@R9Y"D-MY],[:U;B]M[5@LTFTD%
MOND\#J>.W--.HVH5F\QCM."`C$_7&,X]^E:QG-)61+4;[E;3;5H;JZ=;4VJ.
MB*HRIR1NR>"?4=:ACLI5LUC-K\ZLIF^<?Z1@<\Y]>><>E:!U"U$BIYHRP4C`
M)&&^[ST&:ANM5@ALC<1DR$PF5%"GYAP/3CDBB\V]MPM%+<H75A=M:E(K8<EV
MB&X$PGC:!DX'?D9QG%/6RGB;$=ML+7+2.ZD?,I#X!QZ9`K0@OX77;)*!(J%V
M)1D&!UQGT[^E(-3MFEBC4R%I20O[INV/;IR.>E/GGM87+'>YCRVTMK9H@B*M
M)#`I3M)*"2P/KP.?7UJSIUJ%GMI;:(%$#)(S`*%(+9`&<@YX[@COQ5Z6^L)+
M=3,Z-%*F\;T)!7(&>1ZL*='>V:>7#&P3.`JA"`.<`'CCD'K3<Y..P**ON6Z*
MAMKN"[7=`^]<`YP0.?K4U<[36C-`HHHH`****`"JVGLSV[EF+'SI1DG/`D8#
M]*LU6T\AK=R%"_OI1@9_YZ-SS3^R+J6:@>S@>8RO'N<@@Y)(Z8Z=.G%3T4DV
MMAE/^R[/:1Y;9R#N\QMW&<<YSW/YT_[!;C84B`,?W!N.,YR,COSSDU9HJN>7
M<5D5(K"/[&L$WS')=V4E<L<DG@Y[FG?8+7)_=#YE"D`G&!TXZ=AS5FBES2[A
M9%0Z=;%6!5R&C:(Y<DE6QGD\]A2R:=;2LQD0MO55/S$9`S@<?4U:HHYY=PL@
M`P,#I1112&%%%%`!1110`4444`5M,9GTRT=V+,T*$DG))VBK-5M,(;3+1@H4
M&%"%&<#Y1QS5FG+XF);#4=7!*YX)'((Y%.)`!).`*Q?L,LTRBXB+QAK@X;D<
ML"OZ=*9#I]U)#,LD.'GM-CO(P)W[0..^,]<]^G6M/9Q[D\S[&UYJ;B-W3')Z
M<].>]/K#>PDD@9!9A44PL(#MP=K$L!VY'\Z>UE</-M\C;&UQYV=PP`8MNW'L
M:.2/<.9]C6$B,P53G<NX$#@CZ]*>1GK6'!97*6L<"0>04M]C`,,.V5SR/7!Y
MZT[[!(TD7^C>7;F=6,&00H","3@XY)'%#A'N',^QM55%_$;&.["OLD"[%Q\Q
M+'`'UYK*6SO`;<BVYAD!5PPR%\PY7D\#;CIUJ?["\FBV%O+`&>-XMZ,`<`$;
MOTS3Y(K=]0YF^AK@Y`.",]C4-Q=1VRDN&."H.!_>;:.>G6LB.QO,SXMQ$L@0
MLBN`'*N2PSG/*\9/7OBI)K69MRQ6K0Q;(=L>1@$2DMT..G-'LXWW#F?8UUE1
MER#V)P00>.O'6G*P=0PS@C(R,5C"SF\V"9[?S&5)4R2,H2^5;GVST]:;%97H
MN(7=<X6/#\;D`4!ESN[G/8]:7)'N',^QN451TFWDMK=XWB\M0YV9(+$8'+8X
MS[]ZO5G)6=BT[H****0!1110`4444`%%%%`!1110`4444`%%%%`!1110`444
M4`%%%%`!5:1F&IP(&.TPR$C/!(9,?S/YU9JM(1_:<"[1DPR'=SD?,G'^?2G'
M<3+-%%%(84444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444
M4`%9TFM6T4/FNLBJ7*+NVC>03G&3[5HU3&G((8$661'AR!(N`3GKU'>JCR_:
M$[]"*UU9+B9E\F14W[4<XPPV[B>O'_UQ[X(]9@EB\U(9RA*J#M')8`@=?]JG
M/I4;NS>?.NXD_*PXR,'MWI\6G1Q11QJ[;4E\WZ^@_E^56_9D^\);ZG%<3)%'
M'+N*DG('R8)'//J#TS4%_JODRQB))#&LA$CJH(.%)*C)ZYQ_C4\&FQPRQ2>9
M(QBW%0<8R<Y/3/?UQ39=)AE=V,DH5BQ"`C"L3DL..N?PH7LU+R#WK#CJ</VM
M[94E9T)#$`8&`I)Z]/F'ZU#%K=OY2M*)`N.9-F%)";N.<]/Y5+%IB1/,RRR,
MTR%2S8)R>I_E^507.E%;%H[=BSC?MS@?>&/T'2FO9[`^8E;5<6=U.+68-;<%
M'V@DXSV)]1_]>H4U@0S3F\62.,/A,J,*0@8KD=3G-265F[:8]M<H(@Q.-F`V
M.,$\D9_.G'28GC5)99'P[/N.,[CW^HH_=JZ8>\.35;>2P>\4,40[6`()SQW!
MQW'?%#:I$KJIBFZA6.!A"1G!YZXYXS4[6Q:V,+3RDGK(<;C^F/TJI_8T`39'
M+,B@9"Y!&[9LW=,YQ_*I7)U&^85-9@;!\FX4'8<E!P'.`3SZ\>OX4^#5[2XD
MF1'_`-4I8G(.0.">#G\\4XZ=&3]YL9C./]PY`IK6306-Q%;.[%HV6)'(PI(.
M`/\`Z]/]V]A>\11:U#]C\ZYC>!]J-L8CY@W3!SC'!ZXZ<XI5UB&;8(%<[BGS
ME05&YL8.#UX/2GII4:Q`-+*91MQ+D;EVYP!QC')[=Z>+!?,+F5V)D5SN[[1@
M#^M-^S#WA@U:`L%"2DO_`*KY1^]YQ\O/\\5)IT\MQ:--("&:1]JM@8`8@#CZ
M5$ND0*%Q)*&C_P!4V1F(>B\?SS5B"S6"`Q++*5*[>2,CKR,#KS4RY+:#7-?4
MS8-9CMXU^VSEIW/SQ[57RB.H[9'YFKQU&/S-JQ2LGF"/S`!MW9QCKGCZ=C38
MM+2*8S+<3^:Q_>.6&9.F`>/;MB@Z8G(6>=%W^8JJ5PC9R2./<]?6J;IMB7,,
M;5X62?RTD_<JQ9RF5&"P]>>5IL>KJ;<3SQFW3<X(8`E@N1D8/'./\\U)%I<4
M4$T*R.5E(R6Y/'^//YTG]DPD!6EE9%#!02/EW$'@X[%:/W8>\$.KV\YB$22,
MTC$8&T[<8SR#@]1TS2IJJ&ZEB:-Q&KF-9>-K,%W$>H/7VXZU(U@LAA,D\S^4
MP?YB/F(Z9X_EBH;?3=S2R73.2\DC+'D;5!R`>.^WWI?NP]X<=6A\R.,13,\B
M*X4*,@,">>?]DU%/J;$V[00S&-Y/O!1^]7:Q^7GU`Y.*F@TN*&X6;S9)&"[?
MG(.>,#H/3^=(FF+'L"W$Q2-&1%;!"`C'''8>M/\`=H/>%&JP.T0C25UDV_.H
M&%+#(!R>N.>,U$==M%2-W#H).5W%1\OKU_3KUXJ1-*AC="LDJJA#!`1MW!=N
M>F>GO2PZ7'#*94GG$C'+MD?/['C^6*7[L/>&O?-+?6\,`?RS(P>3`VMM4Y`[
M]<4D>K1-)Y961OW@3>J8498J,Y/J*FBT^.&Z\]9),#=MC)&U2QRQ'&>OO4<.
MEQQ#'F,W[Q9#D=U_^OS1>`>\7Z***R+"BBB@`HHHH`****`"BBB@`HHHH`**
M**`"BBB@`HHHH`****`"BBB@`HHHH`K1L3J<Z\8$,9Z#/+/W_"K-5H]O]IS@
M`[O)CR<\8W/CC\ZLTY;B12O;%KIY&#A=UM)#T[MCG]*CETV229G6<(&5%*[<
MA@H;.>1_>_3O6C134Y)6#E1E)I+I`8_.#?)`@.W'^K;/ZTC:,QMVB%P"H@:"
M,;,8!(///)XK6HJO:R%R(S)=),]Q(\UP61U=,;>0K8XSGMCCBIOL<YFAF>Y4
MR1;AD18!4XR,9Z\#G]*NT5/M)#Y49)T9MD:BX!6)0B#9C"AU;DYY/RXJQ/IH
MFN_.\TA6*ET.<$J>.A`_,&KU%/VDNX<J(+&W-I90VY8,8T"Y'?%3T45#=W=C
M6@4444`%%%%`!5;3V+6[DX_UTHX`'21AVJS5;3]IMWV@@>=+U.>?,;/ZT_LB
MZEFBBBD,****`"BBB@`HHHH`****`"BBB@`HHHH`****`*VF,7TRT8XRT*$X
M``^Z.PZ59JMIFTZ9:%`0ODI@$Y(&T=ZLTY?$Q+8****0PHHHH`****`"BBB@
M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"
MBBB@`HHHH`*K2,1J<"\8,,AZ#/#)W_&K-5I-O]IP`@[O)DP<\8W)GC\J<=Q,
MLT444AA1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`
M5@_VG=[EN)(5V1I*S(DAP5#``GCD\''K[9XWJIC2[5?,VHP$@`8;R1C.>,].
M:N$HKXD3)-[#8M1,U^UNEO(8U)7S=IQN'7MC';KU[51M[^9/M%U<1LSA)'"K
M,2H"MM``QCD@\X_G@:R6L,<[3(I#MR?F.,^N.F:IM9V4$$"7TD>\#:&9]@<Y
MSTSSS5Q<.PFI!::C.Z1M<0HOF22`;'SA5SSTYZ8_7VJ./6G>U\_[(P!*H@#$
MEF(!Q@#.!D\^W2K"6-A<6X\L"2(LS`I*2.>"`0>GMTJ46%N+<P;#Y9;?]X@@
M^Q'(I-T[[!:7<A?4)!!;NMJWF3;OD=MFW`)R<C../3O446KM(54VQ5Y$1HE+
MCYMV<9]/ND]^/RJZUI$VS(/R*R+R>AZ_RIATZV;JAZ*`0Q!&W.,$<CJ?SI)P
MZH=I%6SU9KF586MPDK-PHDS\G.6Z?[/ZBG3:N()9/,@(A1G7S`W)*INZ?F/R
MI]C;6Z7#S0-$RK&L481MVU>O)]R?Y5,;"W;[R;@2Y()R#NZTVX*6PES6W*MO
MJ-S/J8M3;QHJ*3+^\R0<*1CC_:'Z^G*7&L>1=21>0&2,'<0_S9&.-N.Y8`<U
M;BL+:&1)(T(=<_-O8DY]>>?QJM#I\WVNY-PZ/;SY)4'[W3';C`'J?PIITV[V
M#WB-M9E6,LUDX*(SN&)7`!'3(!.<^@Z4JZRSDF.SD968+&QRH?)QU(Q[\$\5
M;_LZWPPPY#*$.7))`.>IH73[9'5D1AM?>!N.`>>@[#GH*7-3[!:7<HWNL3PQ
M,T-JC?>3<TG1E'/&.0#QVS5BUU&2:[\AK9@!E6D4,5#`<\XQCMUS[5*^F6DC
MN[1$E\Y^=L<]<#/!X[5)#9P02&2-6#$<Y=B/K@GK[T.5.UD@M*^Y3FU-E\\-
M$8_*E5,AAN.3U((X!&?7CT--75Y2`7L]H_=$_O`<!S@=NN>WI^569-,M9`^4
M;+G+'><]_7H.3P*<;6V:4KG+@HY7=R-OW>/3(HO3[!:7<H0:A(UY*5#R%R(X
MHV8`$[G))QT&`.>N,58M-3>YW'[.%1(P[MYF0,YX''/3]:E73+54*[&.6#9W
MD$$#'!'/3^9I\=A;Q0RPQJ5210I`)X&,<?A1*4'T!*13.KR!8?\`0I"\B"0H
MF6*J>G1>O7@XZ=:;%JTXMY9)[=,HDD@"/U"M@#IWYY]O?`T'LX'>-F0[HQA2
M&(X]#CJ/K47]E61/,1ZYQO;'7/3/3/;M0I4^P6EW(9-3F$[1QV@;#L@8R8R0
MN2>G3M4EIJ!NIU00[%:)9`6;D@@'@8Z<XZ]:>EI;2*)(SN5MY#*V0=_4TJZ?
M;+(KA&W*``=[<8QVSCL/KBDW"UK#]XJZG$&OK?\`?SH&5V=4F9055?0'U(J*
MROYA9Q13)()@(?F#!BV\]\_0_A6E/:17#[I`<^6T?!QPV,_RIIL8"V2IZJ<9
M]!@?SIJ<>5)BY7>Z($OVETZ2=D,39V@*V64D@8.1P<GI0FI,UA/=-!M,61Y>
M_G/H>.#_`)YJ<6%NL)B"G87$ARQ)+`@C)/)Z#\J:UG:Q6[1GY(W=2Q9SDG(Q
MR3[`?I2O#L.TBM)K#1B4&V_>0[RZ^9P%4*2<XY/S#CU[U9TRXGNK8RSHB9=@
MH1B>`2/3VI7T^UD.7CW'>7Y)ZG&1[C@<=.*E@MX[9"D2E5+%L;B>3Z9Z?2B3
MARV2U!*5]26BBBLR@HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"
MBBB@`HHHH`****`*T9']ISKM&1#&=W.3\S\?Y]:LU6CV_P!ISD$[O)CR,<8W
M/CG\ZLTY;B04444AA1110`4444`%%%%`!1110`4444`%%%%`!5;3R&MW(4+^
M^E&!G_GHW/-6:K:?M%N^TDCSI>HQSYC9_6G]D74LT444AA1110`4444`%%%%
M`!1110`4444`%%%%`!1110!6TPAM,M&"A084(49P/E''-6:K:9M&F6@0DKY*
M8)&"1M':K-.7Q,2V"BBBD,****`"BBB@`HHHH`****`"BBB@`HHHH`****`"
MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"JLG_`"%K?_KA
M+_Z%'5JJTFW^TX"2=WDR8&.,;DSS^5..XF6:***0PHHHH`****`"BBB@`HHH
MH`****`"BBB@`HHHH`****`"BBB@`HHHH`*P+C4KGS7\NXV/^\7R=H.S#!5)
MXSDY!]*WZ:Y0`>85`)`&[USQ^M7"2B]5<4E<S#=7,5G<LTNXQSB,2E0-JG;E
MB/;)_+FLQXY[Z5VEN7(9XXE^5>5WDYQCN`&]\^G%=()(_/:%2/,"[RH'8DC/
MZ&F&TA,OFE3OWB3.X]0NT?I5QJ*/0EQOU,>&]OI6"B>)#)*$V#!:/GD$;1C@
M'J35J\EFAU",B=V*6SLL7`$KCVQ_^K\ZT8I([B))HR&1AN4X_6I*3FK[#4=-
MS)MKN=[6Z<7*2*J`I.R@*'(.1QV'%5(]3NW((G58T3<1*0&D'.2,+R!V((''
MO70TTLA8QDJ3C)7/8^WYT*:U]T7*^YB:>7L]&GDCQO#JNXC[N%5"?PP3^%36
M-Q=7-[Y8N2T"`L'V+F5<C!Z?[PX]*U@`HP`!]*@BNX);AXH]QD7*L?+;'';=
MC'ZT.?-=V#EM;4HVUY-/J:H9L#,@>`*/D"G`).,Y.<]:K?;;]GAVW,:B;+IY
MF%#?,0%'RG/&,]#TK?I``H````Z`4>T78?*^YD37\H-PWVCRWCDV>5M'R)N`
M\P\9Z<^E00WM_,6*W`"K,D29C'S@L?F/_`<'BM^DVKG.T9SGIWH51);"Y7W,
M%KV],,A2XYB21LE%R^)"JYXXZ'I3KB]O8VDB%P@`F*><^$`^13MZ$=2<<=NN
M:VE$3%E4(2O#`8X[\_GFF1W$+SO#&277EL(<9^N,9]J?.OY0Y7W,DWU^F90X
ME.Z1?)5>#M3L>OWA^M0?;3'<W$@O<JXVFXVKU5=VQ>,?Q'KD\&NB"J#D*,_2
MEH51=@Y7W,"RGF)VW%P;B9[A`8V`^7";L@8XY4TV'4+V>5$%QM5H_,D8(,QD
M`[D'';Y>O-;[E%!=RH"#.3V]Z4A6Y(!X_2CVB[!RON94\TS+I3R3M"7PT@7`
M#MLZ<^_:F6E_/):74TK[T2`2'Y<;'P2R?A@=>:V>@P**GG5K6'RON<]:7SVB
MP)]HWVB(`'*C#$(?D!`YYP?7K5O2;F]GD\NX<DPJ#(VT#>64$#\,G]*UJCAA
M2'?MR2[EV)ZDG_('X4W433T$HM=3#74+J>XB6*ZVF7`>/8I$1+=/7.`V<G\J
MFBN[UVM8A(6-P'`?:/E"O]X^Y7\,ULD`XR`<<BHQ!&L_G8^8)L'H!G)Q]>/R
M%'M(]@Y7W,RYN93J$L<,@BP2'<("2%3=W]V%59KV6<0+<R^6ZM&_DA1\^$#E
MO7&01QZ5MRS6\4R1N/WDG0*A8\\9.!P.G)J;`(Q@8Z8IJ:5M`Y;]2IIDDK6L
M:2VQAVHN#E=K<=@#P/K5RF22QQ&-7;:7;8HQU."<?H:?64G=W+04444@"BBB
M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`K1J1J
M<[<8,,8ZC/#/V_&K-0)"RWTLY(VO&B`=\@L3_P"A"IZ<MP04444@"BBB@`HH
MHH`****`"BBB@`HHHH`****`"JVGJ5MW!Q_KI3P0>LC'M5FH+2%H(61B"3)(
M_'HSEA^AI]`ZD]%%%(`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`K:8I
M33+13C*PH#@@C[H[CK5FH+*%K>QMX'(+1QJA(Z9`Q4].6K8+8****0!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1
M110`4444`%%%%`!1110`56D4G4X&XP(9!U&>63M^%6:@>%FOHIP1M2-T([Y)
M4C_T$TX[@R>BBBD`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1
M110`4444`%8*G41'QYAD$K0Q!B2&"ACN.?4@#/M6]45O.MPC,@("NR<]RIP?
MY5<9<J>@FKF'%Y\5Z;E8[UEP%.Y6)9@K=O3+?3(HF^V)#&DANR\2QD%-VT@+
MEBQ'4D@C!K<:=%N8X""7D5F&.@`QG/YBDBNHY9Y(E#;HVVDXX)P#U_X$*T]H
M][$<O2YGR12PPZ;%&)\(%5ECR`>`,DCTZX/!YJLGV\%GEEN"&?$R)$P*C)^Z
M<G/8?*.A]:WZ*E5/(KE,-7N$)"+=A$>24E]Q^41X49/7GG'K4<=K-]OM?/>Z
ME2,ID[F/S[#R<=LD?KZFN@HH]KY"Y#+TJ28NQF:5E#M#&<E@0I.6)]^GX5%!
M%=1Z9/-')+OED9O+"CY09.2.,YVUJVXB6()!MV(2N`<X(X(J2DYZ[#4=#'L8
M[B2^P\ERMN@+QJ[,"02,;L\GHW![&JSK=M;O*)[K<UO))M#$?,6^0>V/\\5T
M-5[J[2VV@I)([`D)&`3@=3R?<52J-O1"<=#)U$ZAYT@C:=6W!0RYV>65`SZ;
MMQ^HQZ58LHKI=2?S)YMB%@$96*E>WS$XSWZ9[=*TXI%FB26,Y1U#*?4&GTG4
M=K6'RZW,&Y-W)/>%)9U"`F,*2!G(`^O*D_C20Q2164)C-RT4KRR,8F8L6)^3
MGJ!ZG\ZUS=KF<)')(T+!2J@9)(!XY]Q56+4H42W2*SG6*1A&F%4!3R",9[8/
MY5:E*UDOZL397W*4:7;[3<3W`8ERX1R!A5`P,>K<TL?VR/:'DN71HX?.(R6!
M(;=M`Z=%''KGWK>HJ/:^0^0YRWAN(DNI6^UB>2$+&TA9L`L>.>,C(X]C4KB^
M>]1-]Q&'F*RD9"@;LKM[?=!R1Z\UO44_;7=[!R&2#<#2H,F<@RGS"N3)Y>6Q
MTYS]T>M5X!>F16DDN`RRQH%+'&W))SZG:0#[UO45/M/(?*8^H^>TMPN+H$`>
M3Y.X+C'S$[>_7@^@Q3)7N9'=R;F-"\D@7E3M5``/;)YK;HH52W0.4Y_R[Z!P
M6N+G$<2N/E9P_P`OS9.<`YXP0?:B2WG:$Q3/=2QJT!?#,6SR6(QSZ?CSUYKH
M**KVS["Y#%N(V74YKB,SG:848(6)`!)/'Y?F?4U%)]M>!B9+E)!$[@9(^9I#
MM!^@'2MU8T5F95`9SEB!U.,4ZE[7R#D,A8YI=6B,RSYBD=N_EA<$+CMGGZ]:
MUZ**B4N8I*P4445(PHHHH`****`*6I7\=DB(9(TEE.$+G`'J3["FZ)<_:M,B
MD:82N,AV]_\`.*OU#:6ZVMLD"L6"="?K5WCR6MJ*SO<FHHHJ!A1110`4444`
M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4
M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11
M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%
M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`
M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!6"FGW`C+1QLDDD1,@W8+%I
M`Q7/KC(_&MZBJC-QV$XW,%=/N@\ICA\I"`4B#`84LNY`1P"0O_CU,339C-$I
MM6AA:0LT:D`*-V1G!QT0?G70T5?MI$\B.5^SHUU';7"?(A4`,N0C%V8(#T7(
M*CZ8K7TE7M5:V:W9#RX)(Y'`&[!QN///?%7V@A:83-%&95Z.5&X?C4E.=7F5
M@4+,YR/2KDS`20R)`#\FQH]X.?O-G//;(YX]ZOZ592V\TLL_FB1@0S%DVN<Y
MR,#/Y]*U**4JLI*PU!(YRSM)Y;59[>%D#J3(=X#7`9PWK_=R,G'6HY+6,7$5
MM<1+#&SERFP,(\N-HXX!(&/QKIE4*H50`H&`!T%,>")Y4D>)&D3[K%02OT/:
MJ]N[D^ST,1=,G$%QYD<[ROPWS1[7.[(..,CCHQZ<5;N[*66WM5BWPW&WRF:(
M_*BD#<.>W''?I6I14.K)NY7(C'U+3Y)@MO';^;`(EC0;@!&<\G!/IC&/2HH]
M/N%3=&C)(\1,GS8+$R!BN>QQD>V:W:*%5DE8.17N9$4-S:6$_P!DLRDLTI(C
M5D&P8`SUQT'KUI\$,JR1N+614M8L1QLP)9SU.<XSCOG^(UJ44>T?8.4****S
M*"BBB@`HHHH`****`"BBB@`HHHH`K:BDTEA,MON\TK\NUMIS['M46EO&R2HI
MN!(C8=+ARS*<>N3QBK<R-)$R+(T1/\:8R/S!%1VMHEJ'VL[O(=SNYRS'IS5I
MKEL*VMR>BBBH&%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444
M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1
M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%
M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444
M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1
M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%
M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444
M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1
M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%
M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444
7`%%%%`!1110`4444`%%%%`!1110!_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>10
<FILENAME>highincomex10x1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 highincomex10x1.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#`!`+#`X,"A`.#0X2$1`3&"@:&!86
M&#$C)1TH.C,]/#DS.#=`2%Q.0$1713<X4&U15U]B9VAG/DUQ>7!D>%QE9V/_
MVP!#`1$2$A@5&"\:&B]C0CA"8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C
M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V/_P``1"`$&`?8#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#T"BBF221P
MQF25U1%ZLQP!^-`#Z*C@GAN(Q)!*DJ'HR,&'YBI*`"BBB@`HII=%8*S*">`"
M>O\`G!HW+O*;AN`R1GG%`#J***`"BBB@`HHHH`0D`9/`%-\V/_GHG_?0HF_U
M+_[I_E6-)/#&Z))*B.YPBLP!;Z>M<U:LZ;22-:=-26IL^;'_`,]$_P"^A1YL
M?_/1/^^A6-'/#-O\J5'V'#;6!VGT/I5:;4H%2,P2P3-+)Y:?O0%W8S@D9Q_^
MJL5BIO[)?L5W.B\V/_GHG_?0H\V/_GHG_?0KG'U$+?BU*(#N"X,F'.1G*KCE
M??/8^E`U!C+!^[C\N<D)^]^=AZA<<C&#U[T_K,^P>RCW.C\V/_GHG_?0H\V/
M_GHG_?0KG_MI"W>Z,`P2!%`;.\D*1VXSN`IJ:AT>6,)`X)CD#9)`YY&.,CD=
M:/K,^P>RCW.B\V/_`)Z)_P!]"CS8_P#GHG_?0K'B9GC#,A0G^$GD4^I^MR[#
M]BNYJ^;'_P`]$_[Z%'FQ_P#/1/\`OH5E44?7)=@]@NYJ^;'_`,]$_P"^A1YL
M?_/1/^^A6511]<EV#V"[FKYL?_/1/^^A1YL?_/1/^^A6511]<EV#V"[FKYL?
M_/1/^^A1YL?_`#T3_OH5E44?7)=@]@NYJ^;'_P`]$_[Z%'FQ_P#/1/\`OH5E
M44?7)=@]@NYJ^;'_`,]$_P"^A1YL?_/1/^^A6511]<EV#V"[FKYL?_/1/^^A
M1YL?_/1/^^A6511]<EV#V"[FKYL?_/1/^^A1YL?_`#T3_OH5E44?7)=@]@NY
MJ^;'_P`]$_[Z%'FQ_P#/1/\`OH5E44?7)=@]@NYJ^;'_`,]$_P"^A1YL?_/1
M/^^A6511]<EV#V"[FKYL?_/1/^^A1YL?_/1/^^A6511]<EV#V"[FKYL?_/1/
M^^A1YL?_`#T3_OH5E44?7)=@]@NYJ^;'_P`]$_[Z%'FQ_P#/1/\`OH5E44?7
M)=@]@NYJ^;'_`,]$_P"^A1YL?_/1/^^A6511]<EV#V"[FKYL?_/1/^^A1YL?
M_/1/^^A6511]<EV#V"[FKYL?_/1/^^A1YL?_`#T3_OH5E44?7)=@]@NYL445
M5U&Z:RLVG6,2$,JX9MHY8#).#@#.>G:O0.8M45FS:LMMI9O)5CD.UG"6TGF!
M@.I#8'&.IJ34[]K%8"J1-YLFS=++Y:+\I.2<'TQ^-`%ZBLR/52^J&Q$`W\GA
M\E5'5F&.!R,=<Y[5IT`%%%%`!6=JD;?:+2=H6G@A+%XU7<02.&QWQS[\UHU%
M-<0P;?.ECCWG:N]@,GT&:`,V>YD94:UAN;:!F/F2);_O"<#'RD$X//)':J_G
MZN[?,)8P/)7"Q#D,[*S'C@A=K$#H?:MD7-N6D43QEHN9!O&4^OI35O[1UW)=
M0LN%.5<$88[1^9XH`QY9]92S65T97,FQQ&N2JJ"-P&UOO-['C'UIX.KSVM\Y
ME>.:.+$*)$%#L8E.06&?O9_6M)]0M4E6,3Q,Q;:P$BY7ACD\_P"R?R/I21ZG
M:2A7CGB:$QF3S1(-H`('//O0!AW:W;WEI*#>&.,1LT_V;,@.)@>-O/5>,=P<
M<U)OU5)+BX$+F8PQH'V8)42R<XP1NVD'&#UZ=JWA=VQ:)1<19E&8QO'SCV]:
MFH`J:9)/)8QO=9\TYSE2IQGC(('.,=A]!5NBB@`HHHH`****`&3?ZE_]T_RK
MG;ZSENGC:.X$:J0=I4D$A@>S#T[YKH+G_CVE_P!P_P`JYYIHT=4>1%=ONJ6`
M)^E>9C:KA.-D=5"-T[BQV!^S7$$LH*3*5`12`@(QQDGU^GM2+I[M=1W,TRM(
MC`_)'M!`5P!U//SGGVI4DC<L$=6*'#`'.#Z&JUQJ-O#`9%EBD.\(`)!]XG')
M[>OX&N)5YMV2-W!+J3W.G/,TVR<1K*PD_P!7EE8``$'/3@<8]>>:EDM7=HD#
MHMO&5*H$.[(Z?-GI^%59KF2&6,-#^[=@A<-R"?;'2HY;YHVW"#=")!&7W\Y)
MV\#ZTU6F[67Y!RQ+OV+]^\GF?*\PE9=O7"!0/S`-0R:7YL?DR2JT*9\I-GW?
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M1[?R#D+=%5**/;^0<A;HJI5BP`:\C#`$<\'Z&JA5YY*-MQ2C9-FW44ZS-$1;
MR)')V9T+C\@1_.I:K:A=?8M/N+K9O\F-GVYQG`SC-?1'FE.XT.WN[*>.Y6&2
MXF#?OC"/D8C&5!SCMWJU+!<E"D$\,:$X"M!NPF`,#YASG//OTJ"YU9+/2/MU
MTJ9P2$AD\P-UQ@X&>.>G'/I4VIWCV%HURL(ECC!:3,FTA1Z<<GVH`A72VCN8
M)4NI`(L*5Y^9`,!>OUZYZGIQC2K+M]92;4#:>5ACNV@-EQ@@99<?*#G(.>1^
M5:E`!1110`51U*P:],)280M&3\X4EL''0Y'IWR/:KCHKC#J&'H1FF?9X?^>,
M?_?(J6Y=$-6,I?#Z!YLW!*ODID$E"7#GJV",@<8&>]22Z1+/());I-[",2;(
M<!MC[UP,\<YSUK1^SP_\\8_^^11]GA_YXQ_]\BE>?;\?^`&A132%2.!?,&8K
MF2<D)@MNW\=>V_K[57.@,]M!"]W_`,>\8CC94*\!E*YP?]GG&,Y[5K?9X?\`
MGC'_`-\BC[/#_P`\8_\`OD47GV_'_@!H9L.BM#+;.MPJF(Y<JA!?+%B,ECP2
M>^?;!K7J+[/#_P`\8_\`OD4?9X?^>,?_`'R*+S[?C_P`T):*B^SP_P#/&/\`
M[Y%'V>'_`)XQ_P#?(HO/M^/_```T):*B^SP_\\8_^^11]GA_YXQ_]\BB\^WX
M_P#`#0EHJ+[/#_SQC_[Y%'V>'_GC'_WR*+S[?C_P`T"Y_P"/:7_</\JY6]LG
MNI%99@BC:=NW/(;(/4?K75?9X?\`GC'_`-\BC[/#_P`\8_\`OD5R5\/4JR4D
MTK?,VIU(P33.6CLMJW*-)E)\_*HV[<YS^/-1'36=D:2928RNW;'M&`P;GGKQ
M77?9X?\`GC'_`-\BC[/#_P`\8_\`OD5@L#56O,C3V\>QR]Q;32W44JS(J1\A
M&CW<]SG(YQQ^-1O8SG[/LN4`BY(:+.YO[W4>_P"==9]GA_YXQ_\`?(H^SP_\
M\8_^^10L#57VE]P>WCV...D`W!D\T#+%B=GS,">59L\C'`]./2IC8'SBRS80
M.TB)M^ZY!!.>_4G'O75_9X?^>,?_`'R*/L\/_/&/_OD4W@JSWG^`>WAV.=@A
M6"!(DSM08R>]25O?9X?^>,?_`'R*/L\/_/&/_OD5D\MFW=R']9CV,&BM[[/#
M_P`\8_\`OD4?9X?^>,?_`'R*/[-G_,/ZRNQ@T5O?9X?^>,?_`'R*/L\/_/&/
M_OD4?V;/^8/K*[&#16]]GA_YXQ_]\BC[/#_SQC_[Y%']FS_F#ZRNQ@T5O?9X
M?^>,?_?(H^SP_P#/&/\`[Y%']FS_`)@^LKL8-%;WV>'_`)XQ_P#?(H^SP_\`
M/&/_`+Y%']FS_F#ZRNQ@T5O?9X?^>,?_`'R*/L\/_/&/_OD4?V;/^8/K*[&#
M16]]GA_YXQ_]\BC[/#_SQC_[Y%']FS_F#ZRNQ@T5O?9X?^>,?_?(H^SP_P#/
M&/\`[Y%']FS_`)@^LKL8-%;WV>'_`)XQ_P#?(H^SP_\`/&/_`+Y%']FS_F#Z
MRNQ@T5O?9X?^>,?_`'R*/L\/_/&/_OD4?V;/^8/K*[&#16]]GA_YXQ_]\BC[
M/#_SQC_[Y%']FS_F#ZRNQ@T5O?9X?^>,?_?(H^SP_P#/&/\`[Y%']FS_`)@^
MLKL8-%;WV>'_`)XQ_P#?(H^SP_\`/&/_`+Y%']FS_F#ZRNQ@T5O?9X?^>,?_
M`'R*/L\/_/&/_OD4?V;/^8/K*[&#16]]GA_YXQ_]\BC[/#_SQC_[Y%']FS_F
M#ZRNQ@U9T_\`X_8_Q_D:U?L\/_/&/_OD4?9X?^>,?_?(JZ>7SA-2OL3+$)IJ
MQ+4<Z/)"RQ.$<]&*[@/P[TGV>'_GC'_WR*/L\/\`SQC_`.^17IWGV_'_`(!R
MZ&5/X=@N---L\K^;B0B52RA6<Y/R@@8SV-6;[39;RU-L;A1$3CYHMY"X&,$G
M[PZ[JN?9X?\`GC'_`-\BC[/#_P`\8_\`OD47GV_'_@!H4YM)22Y@G$SAXVW$
MMR6&00,]NF/H6]<UHU%]GA_YXQ_]\BC[/#_SQC_[Y%%Y]OQ_X`:$M%-551=J
M@*!V`HJQ#J**HW\TWVFVM8)!$T^XF4KNP%'0`\9.>_H:`+U%4#.]B$AEDEO9
MI,E`J*&*C&<]!QD>G6H9->MECE=8IY%AC\R0JH^0?,,')ZY0CZT`:M%9W]L1
M^;]G^S7'VK&[[/A=^W^]][&/QH36(991'##/*=F]BJCY!EEYR>H*D8H`T:*R
MH-<BN;J*"&WF9G+!CE,1[=N<_-S]]>F>M2VNKVU[)-%`3N1203CY@.">#D<^
MN*`-"BL6QUU6L[07,,PNIX59%"K^^)`)*\X_/%32ZY;Q*=\4^Y0[2)M&8P@4
MMGGT8'C-`&I167<ZG_I]M;VZL5,_ERO@;?\`5L^WUS]T]*MV-XE];">-'122
M,/C/'T)Q].OK0!9HHHH`9(2L3D=0"15#[5-_?_05?F_U+_[I_E657#BIRBU9
MG112:=R;[5-_?_04?:IO[_Z"H:*Y/:S_`)F;<D>Q-]JF_O\`Z"C[5-_?_05#
M11[6?\S#DCV)OM4W]_\`04?:IO[_`.@J&BCVL_YF')'L3?:IO[_Z"C[5-_?_
M`$%0T4>UG_,PY(]B;[5-_?\`T%'VJ;^_^@J&BCVL_P"9AR1[$WVJ;^_^@H^U
M3?W_`-!4-%'M9_S,.2/8F^U3?W_T%'VJ;^_^@J&BCVL_YF')'L3?:IO[_P"@
MH^U3?W_T%0T4>UG_`#,.2/8F^U3?W_T%'VJ;^_\`H*AHH]K/^9AR1[$WVJ;^
M_P#H*/M4W]_]!4-%'M9_S,.2/8F^U3?W_P!!1]JF_O\`Z"H:*/:S_F8<D>Q-
M]JF_O_H*/M4W]_\`05#11[6?\S#DCV)OM4W]_P#04?:IO[_Z"H:*/:S_`)F'
M)'L3?:IO[_Z"C[5-_?\`T%0T4>UG_,PY(]B;[5-_?_04?:IO[_Z"H:*/:S_F
M8<D>QHVDC21$N<G.*GJM8_ZD_P"]_059KU*+;@FSDGI)A1116I`4444`%%%%
M`!1110`445!>1336S1V\RPNW\90M@=^A'YYH`<]Q!'LWS1KO;8FY@-S>@]3[
M43W$-L@>XFCB0G&YV"C/IS6+;6=Q#H<5NT?S)?!@J1E<*+C.<9/&.?I^=6=7
MWRO'L-S"L;,K2Q0EVR5&`!@Y!SR<=1C(H`T1<P-*T8GC,B$!E#C*YZ9'O4M<
M[:6TL&I6<KVDNT)L"9RD3D`NPX_#)(Z''4`]%0`4444`%0W-K#=QA)XPZ@Y'
M."#Z@CD'Z5-65KMQ>6\"FQ65I<,0$CW`D#(!X/7\/J.X!8&E68B""-^#N#>:
MV_.,?>SG]:BN=,MI;*\MK4)%)-#Y#$'.T8.,C_@1/OFJJ7.K;I72-Y-RW)CC
M>/:%*N!'S@=0>_7%-M&NH[/69XA</,27A:6$JSL(E`PN!GD8Z=N]`&C_`&59
M[<>6^<YW^:V__OK.?UIZZ?:('"PJ`\0A89."@SQ_X\?SK/:?4425&:;8DX!F
M6$%Q&8PV57&#\QQT/Z4RUEU,WFZ<S[3`?*3RP$=@SX+\?*=NPXR.3^%`%^+2
M;*%UD2)PZMN#&5R<X`Y)//"CZX%2P6-O;R.\2,I?.1O8KSUP"<#\*QH[O5C:
M;G$V\2ID"`[VZ[E&4``SCG!_WN]=%0!0CT>QCC\M83C`"DR,2H'0*2<K^&*<
M=*LFC*&'(*/&<NV2KXW9.<DG`YZ\5=HH`J-IMHUTER8CYJ'<"'8#.W;DC."<
M<9-2VUK#:(R0*5#,6.6+$GU)/-344`%%%%`$=P<6\I']P_RK#\U_7]*V[G_C
MVE_W#_*L&O'S*34HV.S#+1C_`#7]?TH\U_7]*917F<\NYU60_P`U_7]*/-?U
M_2F44<\NX60_S7]?TH\U_7]*911SR[A9#_-?U_2CS7]?TIE%'/+N%D/\U_7]
M*/-?U_2F44<\NX60_P`U_7]*/-?U_2F44<\NX60_S7]?TH\U_7]*911SR[A9
M#_-?U_2CS7]?TIE%'/+N%D/\U_7]*/-?U_2F44<\NX60_P`U_7]*/-?U_2F4
M4<\NX60_S7]?TH\U_7]*911SR[A9#_-?U_2CS7]?TIE%'/+N%D/\U_7]*/-?
MU_2F44<\NX60_P`U_7]*/-?U_2F44<\NX61-"S/,B$\,P!K4^Q1_WG_,5DVW
M_'S%_OC^=;]>K@(*<6Y:G)B).+5B.*)8E*J203GFI***]5))61RMWU84444Q
M!1110`4444`%%%%`!3)98X(FEFD2.->69V``_$T^H+UQ':R,59L#@+&9"#V.
MT<F@!S7,"+&S31JLA`0EQAC[>M+-/#;IOGE2)2<;G8*,^G-<W+I-Q-H]LJ*8
M[EEEA*M'D!7;);&?DZ`CTZ5;UM9Y1#Y$<A\HNC.T!DZJ!]WOG/WN@P:`-A)X
M9)7B26-I$^\BL"5^H[5+7,VEA=VD^GR>1*(P-OD,V_RR2I8EA[Y;G(^7U(QT
MU`!1110`UPQ'R$`^XS3-LW_/2/\`[X/^-2T5+BF.Y%MF_P">D?\`WP?\:-LW
M_/2/_O@_XU+12Y%_38<S(MLW_/2/_O@_XT;9O^>D?_?!_P`:EHHY%_38<S(M
MLW_/2/\`[X/^-&V;_GI'_P!\'_&I:*.1?TV',R+;-_STC_[X/^-&V;_GI'_W
MP?\`&I:*.1?TV',R+;-_STC_`.^#_C1MF_YZ1_\`?!_QJ6BCD7]-AS,BVS?\
M](_^^#_C1MF_YZ1_]\'_`!J6BCD7]-AS,A>.9T9#(F&!!PA_QJG_`&5_TV_\
M=_\`KUH,P52QZ`9J%;N-F"@-DG'2L*M&A)KVGYLTA.:7NE7^RO\`IM_X[_\`
M7H_LK_IM_P"._P#UZTJ*7U&A_+^+'[>IW,W^RO\`IM_X[_\`7H_LK_IM_P".
M_P#UZTJ*/J-#^7\6'MZG<S?[*_Z;?^.__7H_LK_IM_X[_P#7K2HH^HT/Y?Q8
M>WJ=S-_LK_IM_P"._P#UZ/[*_P"FW_CO_P!>M*BCZC0_E_%A[>IW,W^RO^FW
M_CO_`->C^RO^FW_CO_UZTJ*/J-#^7\6'MZG<S?[*_P"FW_CO_P!>C^RO^FW_
M`([_`/7K2HH^HT/Y?Q8>WJ=S-_LK_IM_X[_]>C^RO^FW_CO_`->M*BCZC0_E
M_%A[>IW,W^RO^FW_`([_`/7H_LK_`*;?^.__`%ZTJ*/J-#^7\6'MZG<S?[*_
MZ;?^._\`UZ/[*_Z;?^.__7K2HH^HT/Y?Q8>WJ=S-_LK_`*;?^.__`%Z/[*_Z
M;?\`CO\`]>M*BCZC0_E_%A[>IW,W^RO^FW_CO_UZ/[*_Z;?^._\`UZTJ*/J-
M#^7\6'MZG<S?[*_Z;?\`CO\`]>C^RO\`IM_X[_\`7K2HH^HT/Y?Q8>WJ=S-_
MLK_IM_X[_P#7H_LK_IM_X[_]>M*BCZC0_E_%A[>IW,W^RO\`IM_X[_\`7H_L
MK_IM_P"._P#UZTJ*/J-#^7\6'MZG<STTTHZN)N5((RG_`->K>V;_`)Z1_P#?
M!_QJ6BM88>G3T@K?-D2J2EN1;9O^>D?_`'P?\:-LW_/2/_O@_P"-2T5?(OZ;
M)YF1;9O^>D?_`'P?\:-LW_/2/_O@_P"-2T4<B_IL.9D6V;_GI'_WP?\`&C;-
M_P`](_\`O@_XU+11R+^FPYF1;9O^>D?_`'P?\:-LW_/2/_O@_P"-2T4<B_IL
M.9D6V;_GI'_WP?\`&C;-_P`](_\`O@_XU+11R+^FPYF1;9O^>D?_`'P?\:-L
MW_/2/_O@_P"-2T4<B_IL.9D6V;_GI'_WP?\`&C;-_P`](_\`O@_XU+11R+^F
MPYF1;9O^>D?_`'P?\:-LW_/2/_O@_P"-2T4<B_IL.9C5W!?F()]0,44ZBK$%
M4=0OS9O!&D:,\Q(4R2;%X[9P>3V'?!J]5/4;22\A\I)41&!5UDB$BL#[9'-`
M!::A%<3SP-MCFA?:8RX)/RJV<>GS8_"I%O;1U9DN865#M8B0$`^AK/&@H!M-
MRY4R%B<?,08?*QG/7OFE?16F:-IKA&,90*$BV@JKJV",\D[<9[<\4`7X+ZTN
M96BM[F*5U`8JC@G!Z'Z<BEDN[>*XCMY)XTFE!*(S`%OI5;^S%,]T6D/DW!5F
M1"48,`!PRD'&%'%#:6JSV[P2LBQ(\;!R9"RL03\Q.0<CKS0!8-_9A&<W<`12
M59O,&`1R0:0W]F"P-W`"HRW[P<#..>:S;/P\MM/!(TXD$##`9225",H!RQZ;
MB>`![5872`IB_>C]W<2S_<Z[P_'7MOZ^U`&D""`0<@]Z6H+*W^R6-O;%]_DQ
MK'NQC=@8S4]`!1110`4444`,F_U+_P"Z?Y5FP_ZY/]X?SK1G.()#Z*?Y5DQW
M"+(K$-@$&O/Q<XQG&[.FBFXNQM452_M.'^[)^0_QJQ;SK<(70$`''-=4*].;
MM%W9BZ<HJ[1+1116Q`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`
M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`4
M-7++!`Z.Z,MS"/E8C(,B@@XZC!/!IVI",VS,SS;D^ZL,I1F<]!P1GZ'CFK;H
MK@!U#`$$`C/(.0?SJ&:QL[@$3VL$H+;SOC#9;&,\]\`#\*`,B![B+6DBNKPE
M2!OVLQ#R8&%QC"`9]LY6M^H([*UB$8CMH4$1)C"Q@;">I'I4]`!1110`51U/
M4%T\1R29\OYRX"Y)"H6]?:KCN$&2#^`)_E56[AM+V/9<Q2.N",;''4$'I[$U
M+G%:-C2;*YUN!9W@>&9)E.T(P&6;Y>!@XS\ZG\?8TY];M$N9H/G9X@V=H!+%
M1D@`'.<>V/>I?(LS.9S`QD,GF[C&Q^;;MS^7%(;:S,[S>7,'<$-CS`#QC.!Q
MGWZTO:0[AROL5SKL0WL;:?RH[<7#N"A"J=V.C<_=/3-3+J\)G\F2*:)MYC)<
M#"MMWX.">J\__7IC:;IS1^6;>7;Y9C./,&Y3G(/KU)R?4U,UO9M,93"Y<R"4
MG8_WMFS/_?/%'M(=PY7V*T/B"TN-@A261G<*BKM.[(8@]<#A3UP1W`I\.M1S
MS.D=M.52(R.V%.W!8%<9R3E".,T^*RL860I#,/+?>@/F$*<$<`]!@GCI0ME8
MHVY(958A@2!(,AB2<^O+,?;/%'M(=PY7V+5I<+=VL<Z*5609`8@G]"1^M355
MMEM[6$0P1R*@)/*.223DDD\DYJ7ST])/^_;?X4>TAW#E?8EHJ+ST])/^_;?X
M4>>GI)_W[;_"CVD.X<K[$M%1>>GI)_W[;_"CST])/^_;?X4>TAW#E?8+G_CV
ME_W#_*L&MN>57@D55D)*D#]VWI]*R/L\W_/&3_ODUY.8>_*/+J=F'T3N1UK:
M5_Q[-_OG^0K-^SS?\\9/^^36AIY,,#+(DBDMG[A]![5E@4XU;RT*KN\+(OT5
M%YZ>DG_?MO\`"CST])/^_;?X5[?M(=SAY7V):*B\]/23_OVW^%'GIZ2?]^V_
MPH]I#N'*^Q+147GIZ2?]^V_PH\]/23_OVW^%'M(=PY7V):*B\]/23_OVW^%'
MGIZ2?]^V_P`*/:0[AROL2T5%YZ>DG_?MO\*//3TD_P"_;?X4>TAW#E?8EHJ+
MST])/^_;?X4>>GI)_P!^V_PH]I#N'*^Q+147GIZ2?]^V_P`*//3TD_[]M_A1
M[2'<.5]B6BHO/3TD_P"_;?X4>>GI)_W[;_"CVD.X<K[$M%1>>GI)_P!^V_PH
M\]/23_OVW^%'M(=PY7V):*B\]/23_OVW^%'GIZ2?]^V_PH]I#N'*^Q+147GI
MZ2?]^V_PH\]/23_OVW^%'M(=PY7V):*B\]/23_OVW^%'GIZ2?]^V_P`*/:0[
MAROL2T5%YZ>DG_?MO\*//3TD_P"_;?X4>TAW#E?8EHJ+ST])/^_;?X4>>GI)
M_P!^V_PH]I#N'*^Q+147GIZ2?]^V_P`*//3TD_[]M_A1[2'<.5]B6BHO/3TD
M_P"_;?X4>>GI)_W[;_"CVD.X<K[$M%1>>GI)_P!^V_PH\]/23_OVW^%'M(=P
MY7V):*B\]/23_OVW^%'GIZ2?]^V_PH]I#N'*^Q+147GIZ2?]^V_PH\]/23_O
MVW^%'M(=PY7V):*B\]/23_OVW^%'GIZ2?]^V_P`*/:0[AROL4==GGM+,7,$S
M1F,_=V!E;_>./E7WXIVLR7$%FT]M<>6Z`[$V!O-<_=7GL3QQSSUJ2ZAM;LJ9
MXY7"]MK@'V('!'L:CN;*RNR#-'<$JYD!5I5PQ&,\8[4>TAW#E?8IQZC=QZP+
M:X8!'8@DX*+R-H4CG."`=W<CU`.[5(P6;>3F%SY)RF4?@Y!Y]>0#SW`/6K'G
MIZ2?]^V_PH]I#N'*^Q+1358,N1G'N,45>XAU%%%`!1110`4444`%%%%`!111
M0`4444`%%%%`"$@#)X`IOFQ_\]$_[Z%$W^I?_=/\JRJYJ]=TVDD:TZ:DC65E
M894@CV-.JM8_ZD_[W]!5FMJ<N:*D1)6=@HHHJR0HHHH`****`"BBB@`HHHH`
M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H
MHHH`****`"BBB@`HHHH`**JWUTUHD3K&'5YDC;+8*AF"Y'!SR1QQ3+Z]>VFC
MBBB21W1Y"7DV`*N,\X//S#CZ\B@"[165;:T+F_6VC@SO7>IW_,J?WF&.,Y&.
MN<]JU:`"BBB@`HHJO=7<=J$W!G>0X2-!EF/7B@"Q152VOXYW:-TD@F4`F.8`
M'!.`>"0>>.#4L%Q'.\R)G,,GEOD=\`_R84`34444`%%%%`!1110`4444`%%%
M%`#)O]2_^Z?Y5E5IW/\`Q[2_[A_E6#7E8^IR26AUX>-TS:L?]2?][^@JS5;3
MP!9I[Y_G5FN^A_"B_(YZGQ,****V("BBB@`HHHH`****`"BBB@`HHHH`****
M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`
M****`"BBB@"O>6WVJ)(R^W;+')G&?NL&Q^.*CO++[;$T,[(T3.#CR^0N.@.>
M#GOZ'\:?>7BV8A+QR.)95BRF/E+'`)R>F3VJ/4M1_L^/S&M+B:,#+-$%./;E
M@<_2@!C:<_VV.X2Y9`AY100"F.%X/;GKGJ>G&-"J,6J027(@*NC,65"P&'*G
M#`8.>#Z_7I5Z@`HHHH`*IWMK+)-!<V[()H-P`?[K*W4''3H.?:K3HKC#J&'H
M1FF?9X?^>,?_`'R*E\W1#T,B^TBYU$&:Z%L95V!(<DQX#AF!8C)SC'3CWI4T
M>9;MKA6BB9YF8M&3D(80FT<=F`./85K?9X?^>,?_`'R*/L\/_/&/_OD4KS[?
MC_P`T,.UT"93"ER8GA63=)'NR'&QES@*.26!.<].IKH``H``P!P*C^SP_P#/
M&/\`[Y%'V>'_`)XQ_P#?(HO/M^/_```T):*B^SP_\\8_^^11]GA_YXQ_]\BB
M\^WX_P#`#0EHJ+[/#_SQC_[Y%'V>'_GC'_WR*+S[?C_P`T):*B^SP_\`/&/_
M`+Y%'V>'_GC'_P!\BB\^WX_\`-"6BHOL\/\`SQC_`.^11]GA_P">,?\`WR*+
MS[?C_P``-`N?^/:7_</\JP:WOL\/_/&/_OD4?9X?^>,?_?(KCQ.%G7:=[6-Z
M554U8CT__CRC_'^9JS47V>'_`)XQ_P#?(H^SP_\`/&/_`+Y%=-.,X04>W]=C
M*33;9+147V>'_GC'_P!\BC[/#_SQC_[Y%7>?;\?^`3H2T5%]GA_YXQ_]\BC[
M/#_SQC_[Y%%Y]OQ_X`:$M%1?9X?^>,?_`'R*/L\/_/&/_OD47GV_'_@!H2T5
M%]GA_P">,?\`WR*/L\/_`#QC_P"^11>?;\?^`&A+147V>'_GC'_WR*/L\/\`
MSQC_`.^11>?;\?\`@!H2T5%]GA_YXQ_]\BC[/#_SQC_[Y%%Y]OQ_X`:$M%1?
M9X?^>,?_`'R*/L\/_/&/_OD47GV_'_@!H2T5%]GA_P">,?\`WR*/L\/_`#QC
M_P"^11>?;\?^`&A+147V>'_GC'_WR*/L\/\`SQC_`.^11>?;\?\`@!H2T5%]
MGA_YXQ_]\BC[/#_SQC_[Y%%Y]OQ_X`:$M%1?9X?^>,?_`'R*/L\/_/&/_OD4
M7GV_'_@!H2T5%]GA_P">,?\`WR*/L\/_`#QC_P"^11>?;\?^`&A+147V>'_G
MC'_WR*/L\/\`SQC_`.^11>?;\?\`@!H2T5%]GA_YXQ_]\BC[/#_SQC_[Y%%Y
M]OQ_X`:$M%1?9X?^>,?_`'R*/L\/_/&/_OD47GV_'_@!H2T5%]GA_P">,?\`
MWR*/L\/_`#QC_P"^11>?;\?^`&A+147V>'_GC'_WR*/L\/\`SQC_`.^11>?;
M\?\`@!H2T5%]GA_YXQ_]\BC[/#_SQC_[Y%%Y]OQ_X`:$M%1?9X?^>,?_`'R*
M/L\/_/&/_OD47GV_'_@!H2T5%]GA_P">,?\`WR*/L\/_`#QC_P"^11>?;\?^
M`&A#J-J]W#"D94%)XI3N]%<$_C@4VXMIKJ:$2F,012^9M!)+X'RYX]>?P%6/
ML\/_`#QC_P"^11]GA_YXQ_\`?(HO/M^/_`#0SYM);^TX[Z!T24M^]8#:2N1@
M<=>`1S_>SV`K5J+[/#_SQC_[Y%'V>'_GC'_WR*+S[?C_`,`-"6BFJJHNU0%`
M[`458AU%%%`!1110`4444`%%%%`!1110`4444`%%%%`#)"5B<CJ`2*CM)&DB
M)<Y.<5)-_J7_`-T_RJ&Q_P!2?][^@K&3?M4O(T2]QLLT445L9A1110`4444`
M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4
M444`%%%%`!1110`4444`%%%%`!1110`4444`137,%OL\^:.+>VU=[!=Q]!GJ
M:2YNK>T0/<SQ0H3@-(X4$^G-4K_]W=N\D,DT<L!B4)&6^;)R#CH#QR>..34=
MP!]EMEE:[6XMF`62&$OE]F#_``D$$,>>G7GB@#16YMVD:-9XBZ8#*'&1GID>
M]35@10S)K%O<26LK`Y7'\$3D`NPX[GCDCH<=0#OT`%%%%`!3))(X8S)*ZHB]
M68X`_&GUG:I&WVBTG:%IX(2Q>-5W$$CAL=\<^_-`%V">&XC$D$J2H>C(P8?F
M*DK(GN9&5&M8;FV@9CYDB6_[PG`Q\I!.#SR1VJN)]89QN$D8!A&%B!#!I&5F
M/'4+M8CL>O%`&_17/&XUC9>$&;-M&QB'DC]\P>0#/'.553QCK[U.\^H(\D;M
M<"%)F7SXX0TA&U2N%VX(R6&0.WXT`;5%84=SJQE5I$D"J81L$0PX:1E8GC@A
M=I(!XJ759-0%Q)'9F7#6SE`D8P)`#@EB,<G`QD?0]0`;%-9E099@HSC).*PY
M;C44C3R6NF(B!B+0#,LF3E9/E&T?=YXZ]:9J#7\Z3QLLS2">,QPB+]UM$JD-
MO`SG`R>>.>.*`.AHK%\^_5K'_CX),A6X00]3D=\$!1SW&1WSP=J@`HHHH`CN
M#BWD/HA_E6?873F98<+M8DD]^G_UJOW/_'M+_N'^596G_P#'['^/\C7G8F<H
MUZ=G_5SII).G*YM4445Z)S!1110`4444`%%%%`!1110`4444`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1
M110`4444`1RSPPE!-*D9D8(F]@-S'H!ZFB:>*W3?/*D29`W.P49].:IZS$\L
M%N(T9RMU"QVC.`)!D_E4.I$M=P3-;3300F2-XQ$6)8@88#N.HS[T`:*3PR2O
M$DL;2)]Y%8$K]1VJ6N6T_3;VQ?33)&[A5VM'G<$)*EF)'J<MR2/EQU(QU-`!
M1110`UPQ'R$`^XS3-LW_`#TC_P"^#_C4M%2XICN1;9O^>D?_`'P?\:-LW_/2
M/_O@_P"-2T4N1?TV',R+;-_STC_[X/\`C1MF_P">D?\`WP?\:EHHY%_38<S(
MMLW_`#TC_P"^#_C1MF_YZ1_]\'_&I:*.1?TV',R+;-_STC_[X/\`C1MF_P">
MD?\`WP?\:EHHY%_38<S(MLW_`#TC_P"^#_C1MF_YZ1_]\'_&I:*.1?TV',R+
M;-_STC_[X/\`C1MF_P">D?\`WP?\:EHHY%_38<S(7CF=&0R)A@0<(?\`&JT.
MGM#*)%F!(]4_^O5UF"J6/0#-.K.5"G*2;6J\V4JDDK(BVS?\](_^^#_C1MF_
MYZ1_]\'_`!J6BM.1?TV3S,BVS?\`/2/_`+X/^-&V;_GI'_WP?\:EHHY%_38<
MS(MLW_/2/_O@_P"-&V;_`)Z1_P#?!_QJ6BCD7]-AS,BVS?\`/2/_`+X/^-&V
M;_GI'_WP?\:EHHY%_38<S(MLW_/2/_O@_P"-&V;_`)Z1_P#?!_QJ6BCD7]-A
MS,BVS?\`/2/_`+X/^-&V;_GI'_WP?\:EHHY%_38<S(MLW_/2/_O@_P"-&V;_
M`)Z1_P#?!_QJ6BCD7]-AS,BVS?\`/2/_`+X/^-&V;_GI'_WP?\:EHHY%_38<
MS(MLW_/2/_O@_P"-&V;_`)Z1_P#?!_QJ6BCD7]-AS,BVS?\`/2/_`+X/^-&V
M;_GI'_WP?\:EHHY%_38<S(MLW_/2/_O@_P"-&V;_`)Z1_P#?!_QJ6BCD7]-A
MS,BVS?\`/2/_`+X/^-&V;_GI'_WP?\:EHHY%_38<S(MLW_/2/_O@_P"-&V;_
M`)Z1_P#?!_QJ6BCD7]-AS,BVS?\`/2/_`+X/^-&V;_GI'_WP?\:EHHY%_38<
MS(MLW_/2/_O@_P"-&V;_`)Z1_P#?!_QJ6BCD7]-AS,BVS?\`/2/_`+X/^-&V
M;_GI'_WP?\:EHHY%_38<S(MLW_/2/_O@_P"-&V;_`)Z1_P#?!_QJ6BCD7]-A
MS,BVS?\`/2/_`+X/^-&V;_GI'_WP?\:EHHY%_38<S(MLW_/2/_O@_P"-&V;_
M`)Z1_P#?!_QJ6BCD7]-AS,BVS?\`/2/_`+X/^-&V;_GI'_WP?\:EHHY%_38<
MS(MLW_/2/_O@_P"-&V;_`)Z1_P#?!_QJ6BCD7]-AS,BVS?\`/2/_`+X/^-&V
M;_GI'_WP?\:EHHY%_38<S(MLW_/2/_O@_P"-&V;_`)Z1_P#?!_QJ6BCD7]-A
MS,:NX+\Q!/J!BBG458@HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`9-_J
M7_W3_*GU'.<02'T4_P`JDJ5\3'T"BBBJ$%%%%`!1110`4444`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1
M110`4444`%%%%`!1110!GWDD[W30PSF`10^;D*#O.2`#D'CCG&#R.13;RZE_
MLRVNHF,3/)!D8!R'=00<CT;ZU:N;."Z*F922N1\KE<@]0<'D'T/%*]I"ZLK(
M2K.LA!8_>7&,>GW1P*`,X75VNN_99)E2)OF&XISZ*@ZYQDG.>G&,UL56:QMF
MF68Q_O%<OG<>2<=?7H.O3`]*LT`%%%%`!63KEU-;O9)#--$)92KF&(2.0$8@
M`8/<"M1W"#)!_`$_RJ"002RQ2/'(7A8LAV-P2"#V]":ESBM&QI-F?#KGE6@-
M]!(DL05)F4*$$A"G;DG_`&A[>],EUQ6N;=T\Q+3R9)9'PIR58+MZ],GJ.N5P
M<9J^]O9NDRM#(1,XD?Y7Y8``$'L?E'3TIOV2RVJ##*VV-HQN#L=K$$\GKR!S
MUI>TAW'ROL11:Y;S%%BBFD=@Q*IM.T*5SD@X_B!X)I&UZV6UBN'BF1)L&+?M
M7>",Y&6QCGOSZ5-#:V<#JZ1S%E5D#-YC'#8SR<_W1^5#VMD]M#;F*41P`+'M
M$BE0!@88<]/>CVD.X<K[$$FK"6[LX[0,T<DP223:-O,9<+ZY^Z>E/N]9CMI9
MXQ;S2/"4!`VC<6(`QD^K#GI[\&G_`&.Q^TQW`AE$D9RI`D`SMVY(Z$XXR:)K
M.QGE>66&5W<;22'XY!X]#D`Y&.@H]I#N+E?84ZK$LNQHI@JLL<CX&V-VQA3S
MU^8=,CGK56ZUM42UG59([62;:9748D78Y^7!SU`["K7V2R\Y93#*77!Y#D$C
MH2.A(P.3S318V`8-Y$AP^\*1(5!P1PO0##'CIS1[2'<.5]B5-04WD5J\,J2R
M1^9\V,+[=>3QVSCCUJY5!+6S26&013;H1B/(D(7J.AXS@D9JUYZ>DG_?MO\`
M"CVD.X<K[$M%1>>GI)_W[;_"CST])/\`OVW^%'M(=PY7V"Y_X]I?]P_RJ6J\
M\JO!(JK(25('[MO3Z4_ST])/^_;?X5*G'F>O]:E<KML2T5%YZ>DG_?MO\*//
M3TD_[]M_A5>TAW)Y7V):*B\]/23_`+]M_A1YZ>DG_?MO\*/:0[AROL2T5%YZ
M>DG_`'[;_"CST])/^_;?X4>TAW#E?8EHJ+ST])/^_;?X4>>GI)_W[;_"CVD.
MX<K[$M%1>>GI)_W[;_"CST])/^_;?X4>TAW#E?8EHJ+ST])/^_;?X4>>GI)_
MW[;_``H]I#N'*^Q+147GIZ2?]^V_PH\]/23_`+]M_A1[2'<.5]B6BHO/3TD_
M[]M_A1YZ>DG_`'[;_"CVD.X<K[$M%1>>GI)_W[;_``H\]/23_OVW^%'M(=PY
M7V):*B\]/23_`+]M_A1YZ>DG_?MO\*/:0[AROL2T5%YZ>DG_`'[;_"CST])/
M^_;?X4>TAW#E?8EHJ+ST])/^_;?X4>>GI)_W[;_"CVD.X<K[$M%1>>GI)_W[
M;_"CST])/^_;?X4>TAW#E?8EHJ+ST])/^_;?X4>>GI)_W[;_``H]I#N'*^Q+
M147GIZ2?]^V_PH\]/23_`+]M_A1[2'<.5]B6BHO/3TD_[]M_A1YZ>DG_`'[;
M_"CVD.X<K[$M%1>>GI)_W[;_``H\]/23_OVW^%'M(=PY7V):*B\]/23_`+]M
M_A1YZ>DG_?MO\*/:0[AROL2T5%YZ>DG_`'[;_"CST])/^_;?X4>TAW#E?8EH
MJ+ST])/^_;?X4>>GI)_W[;_"CVD.X<K[$M%1>>GI)_W[;_"CST])/^_;?X4>
MTAW#E?8EJG+JNG02-'-?VL<BG#*\R@CZC-3^>GI)_P!^V_PH\]/23_OVW^%'
MM(=PY7V(IYI`]MY&QDD?!);J-I/'!],U:J!WB=D9ED)1MR_(W!P1Z>A-.\]/
M23_OVW^%'M(=PY7V):*:K!ER,X]QBBKW$.HHHH`****`"BBB@`HHHH`****`
M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*
M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH
5HH`****`"BBB@`HHHH`****`/__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>11
<FILENAME>highincomex16x1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 highincomex16x1.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#`!`+#`X,"A`.#0X2$1`3&"@:&!86
M&#$C)1TH.C,]/#DS.#=`2%Q.0$1713<X4&U15U]B9VAG/DUQ>7!D>%QE9V/_
MVP!#`1$2$A@5&"\:&B]C0CA"8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C
M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V/_P``1"`"(`?@#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#T"BBH[AWC
MMY'C3>ZH2JC^(@=*`)**Q?#NJ7>I"?[5$%"$;652![BF:WJT]I>PQVR2ND.)
M;C9"SY4G&W(''&YO^`CUH`W:*R+C6S%)<I';B3RD5X_WG,BG&2``>!GMD^W(
MS6G\2[&G$-H95BB+^8"=I/E[^NW&,=\Y]L<T`=!169!J<CWEO;301H9H]VY9
M=PW<_*..3@9YQ^.#5677GMTD/D&41^>[EI`"$CDV\87D\\#]>]`&[16-KFI7
M-GYL-NB#_0YIO-9\%2N`,#!SR1Q_DQR:^]O;XDM=URLHAVJS,I)3?G(4GIVQ
MU]N:`-VBL#6=2FCM=/N(XW6)]TTL?F&-\+&S[<@>WXXQT-6)M;(G,$%L))/,
M\L;I-H_U7F9S@]N*`->BL!=;EO+FQ^S1^7;O,BR,S#<=T1<+MQTP1SGJ*WZ`
M"BJ]Y*\,!>-<G/Y4ZVD:6!7==K&L_:1Y^3KN5ROEYB:BN:<FRUV2-)+J9CY0
MACDNW$>YA(3NR3QA/0U:@UYYIY1]GB2**$R.SS8Y#.I`XP1E#SZ<^U:$FW16
M-I^J27VHP#:8D,,V^/K\Z2*N<D`^O8=>E1#Q&<2$VRX1D)<2G9L;=AL[?]GL
M".>N,D`&]16%<^(3`\L9M"91-Y:)N8EAACN.%/!VG&,_A@X5]<N-\ICL<HD$
M4H5G*OE\\8P>F#G'/'&<T`;E%95]JPM[.VNT&]71Y"J.,,!&SXSCV]OZ5)!J
M?F6]V\L2Q/:_>'F97&T,#N('8^G%`&C17,3:W<SW5CY1,"N^R6/&>1.B'D@'
MH3V'6IM5%[-KCPV9N-ZVT;(4FVQQL7?YF7/S=!V/2@#H:*PG\0L\$+6UJ&>5
M('`>3``D<K@D#MC]:<-?;+!K>-03(L9,W#,CA"#\O&=PQC.?2@#;HK!7Q&[H
MK+9<!5W[I""I:5H\`;>?F7OC@].U/U#4)YM"DE@3RYA.('`D(P?-"-A@,\^N
M`><T`;=%8CZ\L42!+=F8[@`TG]V98N3@_P![-07^NW#:?="UA6.YAC<R,9.$
M*LRY7Y?FY4]AVH`Z*BJ5C?F[FN8FC$;0/MQNR2.<-TZ'';/Y@BKM`!1110`4
M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11
M10`4444`%%%%`!145Q]P?6J]`%VF"*-6=EC4-(<N0.6XQSZ\<55HH`D_L^RV
MLOV.WVLH5AY2X('0'CH*<;.U,PF-M"90NP/L&[;Z9]/:H:*`)8K*T@9&AM88
MV12JE(P"H/.!Z"G&TMF#!K>(A@P(*#D,<L/Q/)]:@HH`GGM;>Y`%Q!%,%SCS
M$#8SP>M))9VTJ.DMO"Z2$%U9`0Q&`"?7H/RJ&B@"R8(B$!B0B/[@*CY>,<>G
M!(J.*RM(0HBM88PIW`+&!@XQG\N/I45%`$JV-FLL<JVL`DB4*CB,90#@`'L*
ML52HH`NT52HH`GEM;>8.)H(I/,`#[T!W`=`?7&3^=(UE:L4+6T)**47,8^53
MP0/05#10!-#:6UN08+>*(@$#8@7&<9Z?0?D*C&F6`;<+&VSG.?*7KG.>GK3:
M*`)&L+-TD1K2!EE;=(#&,.?4\<FEEL;.;'G6D$FU=@W1@X7T^E144`6'MX)(
MQ')#&Z*"`K*"`",8Q]"1]*7R(<2#RDQ)]\;1\W&.?7@`53'^M;_=']:?0!(E
MA9Q[=EI`NTY7$8&#D'CCU`/X"IA&@D,@1=Y`4MCD@9P,_B?SJK10!(+"S"R*
M+2`++_K!Y8P_.>?6E-C:&/RS:P%,,-OEC&"<GCW(!-144`2I8VD8(2U@4'!(
M6,#.#D?D>?K3_L\.PIY4>PMO*[1@MG.?KGG/K5))$2.)6=5+@!03C<<9P/RJ
M165U#(P93T(.0:`)OL-IYC2?98/,<Y9O+&6.0>3]0#^`I)M/LIU"S6=O(`Q8
M!XE."3DGD=2:CHH`LQ00PES%$D9D.YRJ@;CZGUJ2J5,D^Z/]X?S%`&A16>)H
MBQ42(2&VD;AP<9Q]<4JNC*65E*CJ0>*`+]%4!+&0I#KA_N\]?I2JRNH9&#*>
MA!R#0!>HJE3,XE8G^Z/ZT`:%%9RSPL$*RH1(,IAA\P]O6E\V/87WKL'5L\"@
M#0HJ@TL:_>=1QNY/;UIP((!!R#0!=HJE422(D<2LZJ7`"@G&XXS@?E0!I45G
MK+&Q4+(IW#(P>HH\V/87WKL'5L\"@#0HJ@TL:_>=1QNY/;UIP((!!R#0!=HK
M/D^Z/]X?S%!FB#,ID0,@#,"PR`>A/Y&@#0HK/$L9QB1#D9'/4>M+YB>7YF]=
MF,[L\?G0!?HJ@TL:_>=1QNY/;UIP((!!R#0!=HK/SB5B?[H_K1'+'*`8Y$<,
MH8;6!R#W^E`&A16>)8SC$B')P.1R?2G*ZL2%8$J<$`]*`+U%9_FQ[=WF)MSC
M.1C/I3E96SM8'!P<'H:`+U%1P_ZH44`)<?<'UJO5BX^X/K5>@`HHHH`****`
M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBFLZJZJS`,V<`]\4`.HIL;K(BN
MA#*PR".XIU`#!_K6_P!T?UI]07%S#:++/<2!(T0$L?QI5NH&D1%E4LXRN#U_
MS@_E3`FHHHI`%%%%`&-J-M(]UI\T,#2LK`'<%9,;6ZYY'7J/UP*OV\4\<!52
MB'S9&^89X+DCH?0TK7EO;BWCFE5'EPJ`GJ<9_I3OMEO\G[T#><+GCG./PYX^
MM`$XSCGK14)NH%=T:50R#+`GH._\Q^=)]LM\)^]7YSA?KG'X<\?6@">F2?='
M^\/YBGTR3[H_WA_,4P.?33KDQ:A!!$T6^5/+DD"[QC9W!^8#!.3SQW.:NF*5
MDEC2U>%7*$1_+@A-NX'G'(^7\*N#4K-C(%G4F-@C`<X.,_C4JW,+RF-9`7`R
M1_GZC\Z0&6;6X+RO]F;$Q`C7*_N3OR6//?AN/3UJ_;Q3QP%5*(?-D;YAG@N2
M.A]#3OMUKY?F><NS.,_AG^7/TYJ1;B)IC"L@,@&2O^?J/SH`D&<<]:K7D0FB
MEC*NV57A",]3Z\?@>#5FHV=8V=W8*JJ"23P.M,#!MK.\.F6Z10M;W'DA`^U%
M4*>I8<D,.3QWQ[@6_+E$R%;.1(MZL8AMP0JX]<=2,?[GTJ['J-I)$DJ3JR.N
MY3@\CI^?(XZ\U(MU`SHBRJ6<97!ZCM_(_E2`S;6TGC:,/`<M(KALKB%`OW.O
MU'']ZKUI%<16=M'E$*1*KJRY.0.>0:>]Y;QNR-*H9>H[]OS/(_,4JW4#.B+*
MI9QE<'J.W\C^5`$U8VHVTCW6GS0P-*RL`=P5DQM;KGD=>H_7`K9JLUY;VXMX
MYI51Y<*@)ZG&?Z4`9AL+HK<1*A62:=WCGRO[I3NP.N?_`-OZU+Y<HF0K9R)%
MO5C$-N"%7'KCJ1C_`'/I5_[=;;-YE`7.,D&GQW$,K.(Y%8I][';_`#@_E0!F
M6MI/&T8>`Y:17#97$*!?N=?J./[U7K2*XBL[:/*(4B575ER<@<\@T[[=:^7Y
MGG+LSC/X9_ES].:D6XB:8PK(#(!DK_GZC\Z`%D^Z/]X?S%8KV;C5;LBVE:&1
M%);"%@=S'Y6)Y]<'M^`K:D^Z/]X?S%0MJ%HLTD)G7S(E#.OH#_\`J_"@#+:T
MO&C(DMO-D:97#$H,1KQM/N0#T&,N>U60DIQ_HT@59_.,7R\J<C'7&<_-C^M7
MI;J"%]DDJJV,X)[?Y!_*D^V6^$_>K\YPOUSC\.>/K0!G6MI/&T8>`Y:17#97
M$*!?N=?J./[U7K2*XBL[:/*(4B575ER<@<\@U*UQ"LPB:11(1D#_`#]#^5,^
MW6OE^9YR[,XS^&?Y<_3F@!+R(312QE7;*KPA&>I]>/P/!K*LK>Z73K5/),+M
M;/$&50I0D+AF&>.A_P#K9K;'^M;_`'1_6GT`8IMIFFF9;`QI(L:1\K^[((RW
M7IT_[XZ=,NCM[A(C"(WCD:`PF88^9SD[^#T[_P#`OK6LKJ^=IS@X/UIU`&,U
MM*97F%BWD["@M\IRVT#=UQV*_P#UJOV,,D/G"7DLZD-_>^103^8-6J*`+,/^
MJ%%$/^J%%`"7'W!]:KU;90PP1FF^4G]W]:`*U%6?*3^[^M'E)_=_6@"M15GR
MD_N_K1Y2?W?UH`K459\I/[OZT>4G]W]:`*U%6?*3^[^M'E)_=_6@"M15GRD_
MN_K1Y2?W?UH`K459\I/[OZT>4G]W]:`*U%6?*3^[^M'E)_=_6@"M15GRD_N_
MK1Y2?W?UH`K57OK?[5;^7A3\ZGYO0$9_,9'XUH^4G]W]:/*3^[^M`'.C3KY;
M>:/SR[R8&YI?KR!MXZCKGI["K]C;O#'NF.9GY?#EA]!G_"M/RD_N_K1Y2?W?
MUH`QM8MGN[.>..,/)Y?R?.4(.&&01WYQ[Y(--BL[I7'FLCAY%ED?=R"%`P!C
MGH/3J>*V%B3[0XQ_"O?W-/\`*3^[^M`%:BK/E)_=_6CRD_N_K0!6HJSY2?W?
MUH\I/[OZT`8-Y:3RSV,ULH5T(W2;\<;6X*XP1S]>3TR31+8W*).85CD:4,""
MY&!YC,,<=<-^8%;=O$AMXR1_"._M3_*3^[^M`&#+I]Q)A1L")*TZDN<LQ;=M
M/'3J/IBC[#<EYGQ%FYP'&\XC`8\CCDX/MSCZUO>4G]W]:/*3^[^M`%:F2?='
M^\/YBKGE)_=_6F31($&!_$O?_:%`'/P:?<QO<IY*B!I`8XQ<,-OR`95@,@<8
MQ^6,<N_L^[%I]G=EEX?,H;#,S\$XQQC<QZ]A70^4G]W]:/*3^[^M`&$UI=F=
MKK9!YI0Q"/>=N"!SG'7(].E26EE+;R11DJT,1=@^X[F+=B,>Y[]A6SY2?W?U
MH\I/[OZT`5JKW,7G+)'L#Y5<`L5Y!)SD<@CJ"*T?*3^[^M,6)/M#C'\*]_<T
M`<_::?>K#ITDI4R6J$;&?U"C!('.!G\<=>M216-U`APL;[G$[_.<A@/NKQTR
M!SQU-;_E)_=_6CRD_N_K0!A&SNUGB9!$4BE>;YG.6W9^7IQC<?7H/P+:PN(2
MJMY95Y5FD8,<J0/NJ,=,@>G4UN^4G]W]:/*3^[^M`%:LJ\M)Y9[&:V4*Z$;I
M-^.-K<%<8(Y^O)Z9)K>\I/[OZTRWB0V\9(_A'?VH`PUL+N.9IHEC`\MD6!IF
M903U;)''1>,=,]S2I8W(MQ;2;"OD?9O,1SD@@Y<@CKP.,GDG\=[RD_N_K1Y2
M?W?UH`PFM+LSM=;(/-*&(1[SMP0.<XZY'ITJ2TLI;>2*,E6AB+L'W'<Q;L1C
MW/?L*V?*3^[^M'E)_=_6@"G)]T?[P_F*RI-/N6O;WRE6*&>`KC>2&8[^<8^7
MDY...3U)K>FB0(,#^)>_^T*?Y2?W?UH`P9K2[FRR+$GF2I.P=R2I4#Y>!T.T
M?F?Q/L-R7F?$6;G`<;SB,!CR..3@^W./K6]Y2?W?UH\I/[OZT`8,]C<7:2HP
M6)+DAW.\EHSLVX''L/S-*UI=F=KK9!YI0Q"/>=N"!SG'7(].E;OE)_=_6CRD
M_N_K0!ER0R"V:&(AF$:KECC('7]*HC3+TV\69]LZ.-Q\YB&0*1MS@=>.<<=>
MPK?6)/M#C'\*]_<T_P`I/[OZT`8JV<RVNP*JYF+F(2'#*>V['X_ABJ\NFWS*
MJBY/EAO,90YW9Y&T,0?E"XZCDCWR.B\I/[OZT>4G]W]:`,NSM&A.^5W=PJJ"
M9"W``!]!G/?%6ZL^4G]W]:/*3^[^M`!#_JA13P`HP.E%`"UF>("1IR@.Z;IX
ME)1BIP9%!Y'/2M.HIX(;F(Q7$22QGJCJ"#^!H`R'D&F7_E6D[/$87>5)IF<1
MD%0IR<D9R>.^*!KDP2/?;#?*SQ1XS@RAL`'C(!'/M@UIQV%G%;O!':PI"_WH
MUC`5OJ.].BL[:$`16\2`-O`5`/FQC/UQ0!D/J4\ED\4"J)"EPQ:1SP$<KQCO
M_*HM1NKN&>P-NTAW6C&0K\Q49CRX7^(@$_\`U^E;4VGV<\0BFM()(PQ8*T8(
M!)R3]22:E$,0='$:;D4JK8Y4<<#VX'Y4`8W]I"V8I9G[1'BV6-GE+!O,=ESG
M\,TY]9N@4B2VC,Q9T(W,0Q5PO&![YYZ5II86D98I:PJ68.V$`RP.0?J"2:IW
MVBI=SB5)?).TKE5Y7)R64Y&&/<\]!0!ICISUI:2EH`****`"BBB@`HHHH`**
M**`"LO4LKJ%GY5S(L[R#]WYF$\L'YR5Z'@XSZD5J57FL;.XF6:>U@EE7&UWC
M#,,=,$T`<U'=W+RV,;7$P2]&ZZ(E(\ELG`!_AR?EX]/6K-J)+RXT_P#TFY\S
M+O(1.P5HD8JI(!QEOE^HS6Z;.U*RJ;:$B8YD!C'S_7UJ1(HT.4C53M"Y`QP.
M@^E`#5_X^7_W%_FU2U`0YN7V,H^1<Y7/<^].VS?\](_^^#_C0`MPLCV\BPML
MD*$(Q[''!K)\.V>HVHG_`+0D)#$;%9]QSW-:NV;_`)Z1_P#?!_QHVS?\](_^
M^#_C0!+146V;_GI'_P!\'_&C;-_STC_[X/\`C0`6_P#Q[1?[@_E4M5X!+]GC
MPZ`;1C*'T^M/VS?\](_^^#_C0!+146V;_GI'_P!\'_&C;-_STC_[X/\`C0!+
M44_^K'^^O_H0HVS?\](_^^#_`(TR82[!ET^\O\!]1[T`6**BVS?\](_^^#_C
M1MF_YZ1_]\'_`!H`EHJ+;-_STC_[X/\`C1MF_P">D?\`WP?\:`):B7_CY?\`
MW%_FU&V;_GI'_P!\'_&F`2_:'^=,[5_@/J?>@"Q146V;_GI'_P!\'_&C;-_S
MTC_[X/\`C0!+146V;_GI'_WP?\:-LW_/2/\`[X/^-`$M16__`![1?[@_E1MF
M_P">D?\`WP?\:9`)?L\>'0#:,90^GUH`L45%MF_YZ1_]\'_&C;-_STC_`.^#
M_C0!+146V;_GI'_WP?\`&C;-_P`](_\`O@_XT`$_^K'^^O\`Z$*EJO,)=@RZ
M?>7^`^H]Z?MF_P">D?\`WP?\:`):*BVS?\](_P#O@_XT;9O^>D?_`'P?\:`)
M:*BVS?\`/2/_`+X/^-&V;_GI'_WP?\:`!?\`CY?_`'%_FU2U7`E^T/\`.F=J
M_P`!]3[T_;-_STC_`.^#_C0`7"N\#K&<.1P:CLHYHX2)CDYX!.<5)MF_YZ1_
M]\'_`!HVS?\`/2/_`+X/^-9NFG-3*YGR\I+146V;_GI'_P!\'_&C;-_STC_[
MX/\`C6A)+135W;?F()]0,44`.JEJLLL=J@@$AD>5%`C(#$9R0,D#H#WJV[%1
MD(6]AC^M1,=[(S6S$H=RD[?E.",CGT)'XU+DD-(R[?5;B*VS/")"7D2(^9\S
M$2;`K#&`>0,@G)I-2U*^MXKEFCMXXXA'DK(Q8=WQ\O\`=Z?G[#1\B$2/)]A&
M]V#,VU,DC!!//48'Y4V:WCFN(YFMG#H<DC9\PP1@\].<_@*7.OZ3'RLIRWTZ
M%+=LPRHQ#!)`Y8$`+R1URZ]NN.M/?4I;FPF:)1$TD(>WD#;CA^%)&!@YYQS5
MI+:WC1%33U54^Z`J?+R#QSZJI_`>E'V:W\J2+^SU\N0[G7:F&.<Y(SZT<Z_I
M,7*R+4-56QE*&)G$:"65@&.Q"3SPI_NMUQTI?[0F$IA>V19694C`ER"2I;YC
MCC`4^M/^R6VU%_LY<)]T;4P.<^OK2K;6Z1-&M@`C'<P"IR?7KUX%'.OZ3#E9
MEQZ[/%$P:V:X<3&-BA;`+-\B@[<8PR#)(//2MV,N8U,BJKXY"MD#\<#^55?L
MEL6C8Z<I:/&PE4^7'3'/:K'FO_SPD_-?\:.=?TF'*R6BHO-?_GA)^:_XT>:_
M_/"3\U_QHYU_28<K):*B\U_^>$GYK_C1YK_\\)/S7_&CG7])ARLEHJ+S7_YX
M2?FO^-'FO_SPD_-?\:.=?TF'*R6BHO-?_GA)^:_XT>:__/"3\U_QHYU_28<K
M):R]2RNH6?E7,BSO(/W?F83RP?G)7H>#C/J15_S7_P">$GYK_C5>:UMKB99I
M].265<;7=$9ACI@DT<Z_I,.5G/QW=R\MC&UQ,$O1NNB)2/);)P`?X<GY>/3U
MJ>TUJ<7%K%-YGD)P\@VDN6=DCSDYP0`<@=3^>V;>`K*IT]2)CF0%$^?Z\\TI
MAA,D4AL07B&(V*IE!['/%'.OZ3'RLE7_`(^7_P!Q?YM4M5Q(WVASY+_=7C*^
MI]Z?YK_\\)/S7_&CG7])BLQ;@R"WD,`!EV'8#TW8XK)\.R:I()_[25PH(V%U
MVG/?\.E:OFO_`,\)/S7_`!H\U_\`GA)^:_XT<Z_I,.5DM%1>:_\`SPD_-?\`
M&CS7_P">$GYK_C1SK^DPY6%O_P`>T7^X/Y5+5>"1A;Q@0N?E'(*^GUI_FO\`
M\\)/S7_&CG7])A9DM%1>:_\`SPD_-?\`&CS7_P">$GYK_C1SK^DPY62U%/\`
MZL?[Z_\`H0H\U_\`GA)^:_XTR:1B@_<N/F7NOJ/>CG7])A9EBBHO-?\`YX2?
MFO\`C1YK_P#/"3\U_P`:.=?TF'*R6BHO-?\`YX2?FO\`C1YK_P#/"3\U_P`:
M.=?TF'*R6HE_X^7_`-Q?YM1YK_\`/"3\U_QI@D;[0Y\E_NKQE?4^]'.OZ3"S
M+%%1>:__`#PD_-?\:/-?_GA)^:_XT<Z_I,.5DM%1>:__`#PD_-?\:/-?_GA)
M^:_XT<Z_I,.5DM16_P#Q[1?[@_E1YK_\\)/S7_&F02,+>,"%S\HY!7T^M'.O
MZ3"S+%%1>:__`#PD_-?\:/-?_GA)^:_XT<Z_I,.5DM%1>:__`#PD_-?\:/-?
M_GA)^:_XT<Z_I,.5A/\`ZL?[Z_\`H0J6J\TC%!^Y<?,O=?4>]/\`-?\`YX2?
MFO\`C1SK^DPLR6BHO-?_`)X2?FO^-'FO_P`\)/S7_&CG7])ARLEHJ+S7_P">
M$GYK_C1YK_\`/"3\U_QHYU_28<K!?^/E_P#<7^;5+5<2-]H<^2_W5XROJ?>G
M^:__`#PD_-?\:.=?TF%F%P9!`YB^_CBH[(S-"3.#G/&1@XJ3S7_YX2?FO^-'
MFO\`\\)/S7_&LW9S4[OTUL5]FQ+147FO_P`\)/S7_&CS7_YX2?FO^-:<Z_I,
MGE9+135)*Y*E3Z&BK$.JKJ%XMC;><T;R?.J!$QDEB`.I`ZFK54=7LFU"R$"[
M?];&S;B0"H8$_H*`)+6^CN+=I65H=C%'60@%6';(./UIR7D+W;V^X!U56&2/
MFW9QC\JRVTF>#:D$=O-;PS&6*&4D9#`Y!.#R"<@\]<>]5X]"N49D,=J5D*GS
M-QW08=FP@QVR`.1TZ4`=#YL>6&]<K]X9Z?6F_:(=ZIYT>YL[1N&3CK6`^@W3
M17L0\HM*DJI,9#EMYS\R[?ISD]*T9M.V:C:7-K;V^R-61U/RX!*G<,`Y(VGC
MCKUH`GBO_.O'@CMY2D;%&FRNT-C.,9S^.*?+>PQR6Z[MPG<H&4C`(4L<_@IJ
ME/87,NJ>>D=O&@#!I`QW2J5("LN,<$YSGM[U6LM'NDN8WN$MQ&)O,=4;.<PE
M"``H'4C\*`-IYD5T3J7].W!.3^5.21),['5L=<'-8L&B30F!C,LC1RM\S'D1
MB-D1?PW9/U-6=)TQK`Q$B(;;2*%]G\3KG)Z>_6@#4HHHH`****`"BBB@`HHH
MH`*J7-^EM<Q1213;9&5?-"C8&)P`3G/)]!5NL[4(+Z>]MC"ENUM$V]A)(RL6
M['`4\#K]<>E`#?[<MSD+%.S$_NE"C,W.,KST^N*#K4>^W"VERR7#!$D`7`8Y
MR#ELY&#GCL:HKH=RDEK(K0%K`;;8%FPZ]]W'!QQQGUJ[8Z6]O-;M*ZLL*.0%
MS_K'8EC].<#ZF@"^O_'R_P#N+_-JEJ)?^/E_]Q?YM4M`!1110`4444`16_\`
MQ[1?[@_E4M16_P#Q[1?[@_E4M`!1110`5%/_`*L?[Z_^A"I:BG_U8_WU_P#0
MA0!+1110!EQ:[:RZLVGJK[PQ7?C@L.HK4JJNG6BWIO%@47!ZO_GO5J@`J)?^
M/E_]Q?YM4M1+_P`?+_[B_P`VH`EHHHH`****`"HK?_CVB_W!_*I:BM_^/:+_
M`'!_*@"6H+FY2V"E@26Z`5/4<L,<P`D4,!TJ*BDXODW*C:_O;#D<2(KKT89%
M.I``H``P!P!2U2O;4ED4_P#JQ_OK_P"A"I:BG_U8_P!]?_0A4M,`HHHH`***
M*`(E_P"/E_\`<7^;5+42_P#'R_\`N+_-JEH`****`"BBB@`HHHH`*BN)TMHO
M,DW8W*H"C)))``_,BI:JW]J;Q(HR2(Q(&?:Y1L`$C!'.<X[B@":"9+B(21G*
MDD<C!!!P0?<$$4V:YA@#;W&5VY4')^8X7CW/`K(&B2#S$1(45I#ND#'=+&T@
M8AN,Y"[AU.3SW-)J.D*\CQ06T$?V@JB2K&"8RJDC(QTR!W]!0!KR721+&9%=
M3(2`H0D\`D\#/8'_`":=<3I;6\L\IQ'$A=CC.`!DUE+I<^4*16\$9;<T*,<+
MRF<'`R2H?GCDCWHBTRZCM)5V0><Z*CD,0)B#\SL<<$CV./6@#:HK%U#3[Z^D
M60-'$X3"`,&$3@D[P2A)[=,=,9YX<NFR#>XMX(U:12\*MD2J%(^8XZY.>^<#
MUH`U(9DG0O&<J&9#]5)4_J#4E<V_A^XD**3&$\Q6(5@OEID%T&%SS\W0@<^W
M/0QQI%&L<:*B*,!5&`/PH`?1110`4444`%%%%`!1110`54N;]+:YBBDBFVR,
MJ^:%&P,3@`G.>3Z"K=9VH07T][;&%+=K:)M["21E8MV.`IX'7ZX]*`&_VY;G
M(6*=F)_=*%&9N<97GI]<58AU&VF\@*YWS@E$VG/'7/I@\<]ZR5T.Y22UD5H"
MU@-ML"S8=>^[C@XXXSZT1:#=07D$\4Z@C!D8.PV_.SL`O1@=Q'/3K0!M&-'N
M7WHK81<9&>YIWV>'_GC'_P!\BA?^/E_]Q?YM4M`$7V>'_GC'_P!\BC[/#_SQ
MC_[Y%2T4`1?9X?\`GC'_`-\BC[/#_P`\8_\`OD5+10!7@@B-O&3$A)49)4>E
M/^SP_P#/&/\`[Y%%O_Q[1?[@_E4M`$7V>'_GC'_WR*/L\/\`SQC_`.^14M%`
M$7V>'_GC'_WR*9-!$$&(D'S+_"/458J*?_5C_?7_`-"%`!]GA_YXQ_\`?(H^
MSP_\\8_^^14M%`%19+!KDVZF`S#DIQG\JF^SP_\`/&/_`+Y%9D6@11:RVHB9
MSEBXCQ_$>O/IS6Q0!%]GA_YXQ_\`?(I@@B^T./*3&U>-H]35BHE_X^7_`-Q?
MYM0`?9X?^>,?_?(H^SP_\\8_^^14M%`$7V>'_GC'_P!\BC[/#_SQC_[Y%2T4
M`1?9X?\`GC'_`-\BF001&WC)B0DJ,DJ/2K%16_\`Q[1?[@_E0`?9X?\`GC'_
M`-\BFO';1C+I$H]U%3U7N[47*J"Q4KWQFHJ.2BW!7944F]1X@@(R(HR/]T4?
M9X?^>,?_`'R*=&@CC5!T48YI]4KVU)97F@B"#$2#YE_A'J*?]GA_YXQ_]\BB
M?_5C_?7_`-"%2TP(OL\/_/&/_OD4?9X?^>,?_?(J6B@"+[/#_P`\8_\`OD4?
M9X?^>,?_`'R*EHH`KB"+[0X\I,;5XVCU-/\`L\/_`#QC_P"^10O_`!\O_N+_
M`#:I:`(OL\/_`#QC_P"^11]GA_YXQ_\`?(J6B@"+[/#_`,\8_P#OD4?9X?\`
MGC'_`-\BI:*`&JJJNU0`!V`HIU%`#74L,!RON,?UIGE/_P`]Y/R7_"BBI<4Q
MW#RG_P">\GY+_A1Y3_\`/>3\E_PHHI<B_IL.9AY3_P#/>3\E_P`*/*?_`)[R
M?DO^%%%'(OZ;#F8>4_\`SWD_)?\`"CRG_P">\GY+_A111R+^FPYF'E/_`,]Y
M/R7_``H\I_\`GO)^2_X444<B_IL.9AY3_P#/>3\E_P`*/*?_`)[R?DO^%%%'
M(OZ;#F8>4_\`SWD_)?\`"CRG_P">\GY+_A111R+^FPYF'E/_`,]Y/R7_``H\
MI_\`GO)^2_X444<B_IL.9AY3_P#/>3\E_P`*/*?_`)[R?DO^%%%'(OZ;#F8>
M4_\`SWD_)?\`"CRG_P">\GY+_A111R+^FPYF'E/_`,]Y/R7_``H\I_\`GO)^
M2_X444<B_IL.9B>2VXMYTF2,'A?\/>E\I_\`GO)^2_X444<B_IL+L/*?_GO)
M^2_X4>4__/>3\E_PHHHY%_38<S#RG_Y[R?DO^%'E/_SWD_)?\***.1?TV',Q
M%A95"K-(`!@<+_A2^4__`#WD_)?\***.1?TV%V'E/_SWD_)?\*/*?_GO)^2_
MX444<B_IL.9AY3_\]Y/R7_"D:%F&#-(1D'HO^%%%'(OZ;"[%\I_^>\GY+_A1
MY3_\]Y/R7_"BBCD7]-AS,/*?_GO)^2_X4>4__/>3\E_PHHHY%_38<S#RG_Y[
MR?DO^%)Y+;BWG29(P>%_P]Z**.1?TV%V+Y3_`//>3\E_PH\I_P#GO)^2_P"%
M%%'(OZ;#F8>4_P#SWD_)?\*/*?\`Y[R?DO\`A111R+^FPYF'E/\`\]Y/R7_"
MD6%E4*LT@`&!PO\`A111R+^FPNQ?*?\`Y[R?DO\`A1Y3_P#/>3\E_P`***.1
M?TV',P\I_P#GO)^2_P"%'E/_`,]Y/R7_``HHHY%_38<S$:%F&#-(1D'HO^%+
MY3_\]Y/R7_"BBCD7]-A=AY3_`//>3\E_PH\I_P#GO)^2_P"%%%'(OZ;#F8>4
M_P#SWD_)?\*/*?\`Y[R?DO\`A111R+^FPYF)Y+;BWG29(P>%_P`/>E\I_P#G
MO)^2_P"%%%'(OZ;"[#RG_P">\GY+_A1Y3_\`/>3\E_PHHHY%_38<S#RG_P">
C\GY+_A1Y3_\`/>3\E_PHHHY%_38<S'J"%P6+'U-%%%6(_]D_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
