<SEC-DOCUMENT>0001157523-16-005894.txt : 20160616
<SEC-HEADER>0001157523-16-005894.hdr.sgml : 20160616
<ACCEPTANCE-DATETIME>20160616140556
ACCESSION NUMBER:		0001157523-16-005894
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20151231
FILED AS OF DATE:		20160616
DATE AS OF CHANGE:		20160616

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CULP INC
		CENTRAL INDEX KEY:			0000723603
		STANDARD INDUSTRIAL CLASSIFICATION:	BROADWOVEN FABRIC MILLS, COTTON [2211]
		IRS NUMBER:				561001967
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			0429

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12597
		FILM NUMBER:		161717269

	BUSINESS ADDRESS:	
		STREET 1:		1823 EASTCHESTER DRIVE
		CITY:			HIGH POINT
		STATE:			NC
		ZIP:			27265
		BUSINESS PHONE:		3368895161

	MAIL ADDRESS:	
		STREET 1:		P O BOX 2686
		CITY:			HIGH POINT
		STATE:			NC
		ZIP:			27265
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>a51359612.htm
<DESCRIPTION>CULP, INC. 11-K
<TEXT>
<html>
<head>
<title></title>
<!--Licensed to: Business Wire
    Document created using EDGARfilings PROfile 4.1.0.0
    Copyright 1995 - 2016 Summit Financial Printing, LLC.  All rights reserved.-->
</head>
<body style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" bgcolor="#ffffff" text="#000000">
<div>
<div><br>
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 16pt; FONT-WEIGHT: bold">UNITED STATES</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 16pt; FONT-WEIGHT: bold">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Washington, DC&#160; 20549</div>

<div><br>
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 16pt; FONT-WEIGHT: bold">FORM 11-K</div>

<div><br>
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Annual Report pursuant to Section 15(d) of the Securities Exchange Act of 1934</div>

<div><br>
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">For the fiscal year ended December 31, 2015</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">COMMISSION FILE NO. 1-12597</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">A.</font><font style="FONT-SIZE: 5.14pt" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Full title of the Plan and the address of the Plan, if different from that of the issuer named below:</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-WEIGHT: bold">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="z136a07aff20846ae827ffb0de82d0662" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #dbdbdb; WIDTH: 100%; BORDER-TOP: #000000 2px solid; FONT-WEIGHT: bold; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: center">CULP, INC. EMPLOYEES&#8217; RETIREMENT BUILDER PLAN</div>
</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: justify; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">B.</font><font style="FONT-SIZE: 5.14pt" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Name of issuer of the securities held pursuant to the Plan and the address of its principal executive office:</font></div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;&#160;&#160;<font style="FONT-SIZE: 16pt">CULP, INC.</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;&#160;&#160;1823 EASTCHESTER DRIVE</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;&#160;&#160;HIGH POINT, NORTH CAROLINA 27265</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">There were no material changes in the Plan or the Investment Policy of the Plan.&#160; Culp, Inc. has made no profit sharing contributions during the past five years.&#160; The number of participants in the Plan at December 31, 2015 was 727. The Retirement Committee administers the Plan, and its members are Franklin N. Saxon, Kenneth R. Bowling, and Teresa A. Huffman, all employees of Culp, Inc.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 72pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Financial Statements and Exhibits</u></div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(a)&#160; Financial Statements.&#160; A list of all financial statements filed as part of this report, beginning on page 1, is set forth below:</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<table style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 80%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" id="be5148a449a54945b7491c4b00fe0347" border="0" cellspacing="0" cellpadding="0" align="center">
<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none"><u>Financial Statements</u>&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none"><u>Page of Report</u>&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">Report of Independent Registered Public Accounting Firm&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">1&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">Statements of Net Assets Available for Benefits&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">2&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">Statements of Changes in Net Assets Available for Benefits&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">3&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">Notes to Financial Statements&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">4&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">Schedule of Assets (Held at End of Year)&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">10</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(b)&#160; <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Exhibits</u></font></div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Exhibit 23(a) &#8211; Consent of Independent Registered Public</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Accounting Firm</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SIGNATURES</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Pursuant to the requirements of the Securities Exchange Act of 1934, the plan administrator has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><br>
 &#160;</div>

<table style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" id="61d323a79563433fa1ae2108f6165482" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none" colspan="2">CULP, INC. EMPLOYEES' RETIREMENT BUILDER PLAN&#160;&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 40%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none" colspan="2">By: Culp, Inc., Plan Administrator&#160;&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 40%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none" colspan="2">By: The Culp, Inc. Retirement Committee&#160;&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 40%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">Date: June 16, 2016&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 40%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 40%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 40%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; FONT-VARIANT: normal; FONT-STYLE: normal; WIDTH: 30%; FONT-FAMILY: 'Times New Roman'; FONT-SIZE: 10pt; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none"><u>/s/ Franklin N. Saxon</u></td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 40%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;Franklin N. Saxon</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 40%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 40%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none"><u>/s/ Kenneth R. Bowling</u>&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 40%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">Kenneth R. Bowling&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 40%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 40%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none"><u>/s/ Teresa A. Huffman</u>&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 40%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;Teresa A. Huffman</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 40%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>
</table>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 144pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div><br>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Culp, Inc. Employees&#8217; Retirement Builder Plan</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">
<hr style="TEXT-ALIGN: center; BACKGROUND-COLOR: #000000; HEIGHT: 4px; COLOR: #000000; MARGIN-LEFT: auto; MARGIN-RIGHT: auto" noshade="noshade">
</div>

<div>&#160;</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TABLE OF CONTENTS</div>

<div>&#160;</div>

<div><br>
</div>

<table style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" id="3497a51edd4843828ce73b7faac7d784" border="0" cellspacing="0" cellpadding="0" align="center">
<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: normal; BORDER-RIGHT: medium none">&#160;<u>Page No.</u></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">Report of Independent Registered Public Accounting Firm&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none"><font style="FONT-WEIGHT: normal">1</font>&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">Financial Statements&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; TEXT-INDENT: 9pt; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none"><font style="FONT-WEIGHT: normal">Statements of Net Assets Available for Benefits</font>&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none"><font style="FONT-WEIGHT: normal">2</font>&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; TEXT-INDENT: 9pt; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none"><font style="FONT-WEIGHT: normal">Statements of Changes in Net Assets Available for Benefits</font>&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;<font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">3</font>&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; TEXT-INDENT: 9pt; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none"><font style="FONT-WEIGHT: normal">Notes to Financial Statements</font>&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none"><font style="FONT-WEIGHT: normal">4-9</font>&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">Supplemental Information&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; TEXT-INDENT: 9pt; WIDTH: 80%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none"><font style="FONT-WEIGHT: normal">Schedule H, Line 4i - Schedule of Assets (Held at End of Year)</font>&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 20%; BORDER-TOP: medium none; FONT-WEIGHT: normal; BORDER-RIGHT: medium none">10</td>
</tr>
</table>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div><br>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div style="TEXT-ALIGN: left; FONT-WEIGHT: normal">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>

<div><br>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">To the Retirement Committee of the</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Culp, Inc. Employees&#8217; Retirement Builder Plan</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">High Point, North Carolina</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">We have audited the accompanying statements of net assets available for benefits of the Culp, Inc. Employees&#8217; Retirement Builder Plan (the "Plan") as of December 31, 2015 and 2014 and the related statements of changes in net assets available for benefits for the years ended December 31, 2015, 2014, and 2013.&#160; These financial statements are the responsibility of the Plan&#8217;s management.&#160; Our responsibility is to express an opinion on these financial statements based on our audits.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States).&#160; Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.&#160; The Plan is not required to have, nor were we engaged to perform, an audit of the Plan&#8217;s internal control over financial reporting.&#160; Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan&#8217;s internal control over financial reporting.&#160; Accordingly, we express no such opinion.&#160; An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.&#160; We believe that our audits provide a reasonable basis for our opinion.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2015 and 2014 and the changes in its net assets available for benefits for the years ended December 31, 2015, 2014, and 2013, in conformity with accounting principles generally accepted in the United States of America.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The supplemental information in the accompanying schedule of assets (held at end of year) as of December 31, 2015, has been subjected to audit procedures performed in conjunction with the audit of the Plan&#8217;s financial statements. The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial statements, but includes information required by the Department of Labor&#8217;s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information is the responsibility of the Plan&#8217;s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information in the accompanying schedule, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor&#8217;s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information in the accompanying schedule is fairly stated in all material respects in relation to the financial statements taken as a whole.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">/s/ Smith Leonard PLLC</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">High Point, NC</div>

<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">June 16, 2016</div>

<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: right" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold" id="DSPFPageNumber">Page 1</font></div>

<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div>&#160;</div>

<div>
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="z34b06bee36b34394bb0162c9721d618d" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CULP, INC. EMPLOYEES&#8217; RETIREMENT BUILDER PLAN</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="4">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 4px solid; WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">December 31, 2015 and 2014</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px solid; VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px solid; VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ASSETS</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2015</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2014</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Investments, at fair value (Note C)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Registered investment companies</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">28,033,530</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">27,239,791</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Common and collective trust fund</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">8,565,248</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">6,489,104</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Culp, Inc. common stock</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2,767,978</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">3,853,316</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Money market fund</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">123,138</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">149,440</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">39,489,894</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">37,731,651</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Receivables</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Employer contributions</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">28,268</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Participant contributions</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">59,984</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">88,252</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">NET ASSETS AVAILABLE</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; WIDTH: 72%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">FOR BENEFITS</div>
</td>
<td style="PADDING-BOTTOM: 4px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">39,578,146</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">37,731,651</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div>&#160;</div>

<div>See accompanying notes to the financial statements.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: right" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold" id="DSPFPageNumber">Page 2</font></div>

<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div>&#160;</div>

<div>
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="z458b9efa3b5748be889d91a2500103a3" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="4">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CULP, INC. EMPLOYEES&#8217; RETIREMENT BUILDER PLAN</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="12">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 4px solid; VERTICAL-ALIGN: top" valign="bottom" colspan="4">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Years Ended December 31, 2015, 2014 and 2013</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px solid; VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px solid; VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2015</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2014</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2013</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CHANGES IN NET ASSETS ATTRIBUTED TO :</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Investment income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Net (depreciation) appreciation in fair value</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 27pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">of investments</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(1,009,681</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">636,651</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">4,286,236</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Interest and dividends</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,614,975</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,471,573</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,098,390</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 27pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Total investment income</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">605,294</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2,108,224</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">5,384,626</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Contributions</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Employer</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">845,755</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">760,439</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">698,728</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Participant</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,509,090</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,322,568</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,213,352</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Direct rollovers</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">135,665</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">142,087</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">64,904</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 27pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Total contributions</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2,490,510</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2,225,094</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,976,984</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Benefits paid to participants</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,249,309</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,181,870</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,820,655</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">NET INCREASE</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,846,495</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">3,151,448</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">5,540,955</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">NET ASSETS AVAILABLE</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">FOR BENEFITS</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Beginning of year</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">37,731,651</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">34,580,203</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">29,039,248</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; WIDTH: 58%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">End of year</div>
</td>
<td style="PADDING-BOTTOM: 4px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">39,578,146</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">37,731,651</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 11%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">34,580,203</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div>&#160;</div>

<div>See accompanying notes to the financial statements.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: right" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold" id="DSPFPageNumber">Page 3</font></div>

<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div>&#160;</div>

<div>
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CULP, INC. EMPLOYEES' RETIREMENT BUILDER PLAN</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTES TO FINANCIAL STATEMENTS</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">DECEMBER 31, 2015, 2014 AND 2013</div>
</div>

<div>
<hr style="TEXT-ALIGN: center; BACKGROUND-COLOR: #000000; HEIGHT: 4px; COLOR: #000000; MARGIN-LEFT: auto; MARGIN-RIGHT: auto" noshade="noshade">
</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE A - DESCRIPTION OF PLAN</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The following description of the Culp, Inc. Employees&#8217; Retirement Builder Plan (the &#8220;Plan&#8221;) provides only general information.&#160; Participants should refer to the summary plan description for a more complete description of the Plan&#8217;s provisions.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><u>General</u></div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The Plan is a defined contribution plan covering all full-time employees of Culp, Inc. and its subsidiaries (the &#8220;Company&#8221;) who have three months of continuous service and are at least 21 years of age.&#160; Employees who elect to participate in the Plan may do so in the next available payroll period.&#160; The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (&#8220;ERISA&#8221;).</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><u>Contributions</u></div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Each year, participants may contribute compensation, as defined in the Plan document, subject to certain Internal Revenue Code (&#8220;IRC&#8221;) limitations.&#160; Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.&#160; Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans.&#160; Participants direct the investment of their contributions into various investment options offered by the Plan.&#160; The Plan currently offers various registered investment company funds, one common and collective trust fund, and Culp, Inc. common stock as investment options for participants.&#160; The Company makes matching contributions equal to 100% of the participant&#8217;s contribution up to the first 3% of annual compensation plus 50% of the next 2% of compensation contributed to the Plan which qualifies under safe harbor provisions.&#160; An employee who is eligible to participate in the Plan, but does not either affirmatively elect to decline participation or designate a specified amount to be contributed to the Plan, is required to have their compensation reduced by 2%, which is in turn contributed into the Plan&#8217;s Moderate Allocation Fund.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Additional profit sharing amounts may be contributed at the option of the Company.&#160; No profit-sharing contributions were made during the years ended December 31, 2015, 2014 or 2013.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><u>Participant Accounts</u></div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Each participant&#8217;s account is credited with the participant&#8217;s contributions and Company matching contributions, as well as allocations of (a) the Company&#8217;s profit sharing contributions and (b) Plan earnings.&#160; Allocations are based on participant earnings or account balances, as defined.&#160; The benefit to which a participant is entitled is the benefit that can be provided from the participant&#8217;s vested account.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><u>Vesting</u></div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Participants are immediately vested in their own voluntary contributions and the Company&#8217;s matching contributions plus actual earnings thereon.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><u>Notes Receivable from Participants</u></div>

<div style="FONT-WEIGHT: normal">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Notes receivable from participants are not permitted by the Plan.</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: right" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold" id="DSPFPageNumber">Page 4</font></div>

<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div style="FONT-WEIGHT: normal">&#160;</div>

<div style="FONT-WEIGHT: normal">
<div>
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CULP, INC. EMPLOYEES' RETIREMENT BUILDER PLAN</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTES TO FINANCIAL STATEMENTS</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">DECEMBER 31, 2015, 2014 AND 2013</div>
</div>

<div>
<hr style="TEXT-ALIGN: center; BACKGROUND-COLOR: #000000; HEIGHT: 4px; COLOR: #000000; MARGIN-LEFT: auto; MARGIN-RIGHT: auto" noshade="noshade">
</div>
</div>

<div style="FONT-WEIGHT: normal">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><u>Payment of Benefits</u></div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Upon termination of service due to death, disability, retirement, or other reasons as defined by the Plan, participants receive a lump-sum distribution equal to the value of the participant&#8217;s vested interest in the Plan. In-service distributions may be made to participants who have reached age 59 1/2. Withdrawals from the Plan may also be made upon circumstances of financial hardship, in accordance with provisions specified by the Plan.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><u>Basis of Accounting</u></div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The financial statements of the Plan are prepared under the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><u>Recently Adopted Accounting Pronouncements</u></div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">In May 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU 2015-07), <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset per Share (or Its Equivalent), </font>which removes the requirement to present investments for which the practical expedient is used to measure the fair value at net asset value (NAV) within the fair value hierarchy table. Instead, an entity would be required to include those investments as a reconciling item so that the total fair value amount of investments in the disclosure is consistent with the fair value investment balance on the statement of net assets available for benefits. The Plan elected to early adopt ASU 2015-07 as of December 31, 2015, as permitted and has applied ASU 2015-07 retrospectively, as required. The adoption has been reflected in Note C &#8211; Fair Value Measurements of the financial statements. This adoption had no impact on the Statements of Net Assets Available for Benefits as of December 31, 2015 and 2014 or the Statements of Changes in Net Assets Available for Benefits for the years ended December 31, 2015, 2014, and 2013.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">In July 2015, the FASB issued ASU 2015-12, <font style="FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): (Part I) Fully Benefit-Responsive Investment Contract, (Part II) Plan Investment Disclosures, (Part III) Measurement Date Practical Expedient, </font>which simplifies the required disclosures related to employee benefit plans. Part I eliminates the requirement to measure and disclose the fair value of fully benefit-responsive contracts, including common and collective trust assets. Contract value is the only required measure for fully benefit-responsive contracts. Part II eliminates the requirement to disclose individual investments which comprise 5% or more of total net assets available for benefits, as well as the net appreciation or depreciation of fair values by type. Part II also requires plans to continue to disaggregate investments that are measured using fair value by general type; however, plans are no longer required to disaggregate investments by nature, characteristics and risks. Furthermore, the disclosure information about fair value of investments shall be provided by general type of plan asset. Part III allows plans to measure investments using values from the end of the calendar month closest to the Plan&#8217;s fiscal year end. The Plan elected to early adopt ASU 2015-12 Parts I and II as of December 31, 2015 and has applied the provisions retrospectively. The provisions of ASU 2015-12 Part III are not applicable to the Plan.</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: right" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold" id="DSPFPageNumber">Page 5</font></div>

<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="FONT-WEIGHT: normal">
<div>
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CULP, INC. EMPLOYEES' RETIREMENT BUILDER PLAN</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTES TO FINANCIAL STATEMENTS</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">DECEMBER 31, 2015, 2014 AND 2013</div>
</div>

<div>
<hr style="TEXT-ALIGN: center; BACKGROUND-COLOR: #000000; HEIGHT: 4px; COLOR: #000000; MARGIN-LEFT: auto; MARGIN-RIGHT: auto" noshade="noshade">
</div>
</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><u>Investment Valuation and Income Recognition</u></div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The Plan&#8217;s investments are stated at fair value.&#160; Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Purchases and sales of securities are recorded on a trade-date basis.&#160; Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation or depreciation includes the Plan's gains and losses on investments bought and sold as well as held during the year.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><u>Use of Estimates</u></div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and changes therein, and disclosures.&#160; Actual results could differ from those estimates.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><u>Payment of Benefits</u></div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Benefits are recorded when paid.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><u>Subsequent Events</u></div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The Company has evaluated the effects subsequent events would have on the financial statements through June 16, 2016, which is the date the financial statements were available to be issued. No issues were noted which would impact the financial statements.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE C - FAIR VALUE MEASUREMENTS</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The FASB issued a statement that defines fair value and establishes a framework for measuring fair value.&#160; That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value.&#160; The hierarchy gives the highest priority to unadjusted quoted market prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of fair value hierarchy are described as follows:</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 22.8pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Level 1 - Inputs to the valuation methodology are quoted prices available in active markets for identical investments as of the reporting date;</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 22.8pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Level 2 - Inputs to the valuation methodology are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value can be determined through the use of models or other valuation methodologies; and</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 22.8pt; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Level 3 - Inputs to the valuation methodology are unobservable inputs in situations where there is little or no market activity for the asset or liability and the reporting entity makes estimates and assumptions related to the pricing of the asset or liability including assumptions regarding risk.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The following is a description of the valuation methodologies used for instruments measured at fair value, including the general classification of such instruments pursuant to the valuation hierarchy. There have been no changes in the methodologies used at December 31, 2015 and 2014.</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: right" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold" id="DSPFPageNumber">Page 6</font></div>

<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div style="FONT-WEIGHT: normal">&#160;</div>

<div style="FONT-WEIGHT: normal">
<div>
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CULP, INC. EMPLOYEES' RETIREMENT BUILDER PLAN</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTES TO FINANCIAL STATEMENTS</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">DECEMBER 31, 2015, 2014 AND 2013</div>
</div>

<div>
<hr style="TEXT-ALIGN: center; BACKGROUND-COLOR: #000000; HEIGHT: 4px; COLOR: #000000; MARGIN-LEFT: auto; MARGIN-RIGHT: auto" noshade="noshade">
</div>
</div>

<div style="FONT-WEIGHT: normal">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><u>Registered Investment Companies</u></div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">These investments are public investment vehicles valued using the NAV provided by the administrator of the fund.&#160; The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding.&#160; The NAV is a quoted price in an active market and classified within Level 1 of the valuation hierarchy.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><u>Common and Collective Trust Fund</u></div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">This investment is measured using the net asset value per share practical expedient as of December 31, 2015 and 2014, respectively. There are no participant redemption restrictions for these investments; the redemption notice period is applicable only to the Plan.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The following tables present information for which the net asset value per share practical expedient was used:</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="ze924b9659c8a40b091248572de0c4746" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; VERTICAL-ALIGN: top" colspan="4">&#160;&#160;&#160;&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; VERTICAL-ALIGN: top" colspan="4">&#160;December 31, 2015</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: top">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Redemption</div>
</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: top">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Frequency (If</div>
</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: top">&#160;&#160;&#160;&#160;&#160;</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Unfunded</div>
</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Currently</div>
</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Redemption</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Description&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Fair Value</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Commitments</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Eligible)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Notice Period</div>
</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: top">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Invesco Stable Value V Trust Fund</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;$8,565,248</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">N/A</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Daily</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 15%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">24 months</div>
</td>
</tr>
</table>

<div>&#160;</div>

<div><br>
</div>

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="z042c524684334a2f8d15b994bc9af91e" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: top" colspan="9">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 19pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.05%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: top" colspan="7">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">December 31, 2014</div>
</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid">&#160;</td>
<td style="WIDTH: 1.05%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Redemption</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1.05%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Frequency (If</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1.05%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Unfunded</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Currently</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Redemption</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Description&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.05%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Fair Value</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Commitments</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Eligible)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Notice Period</div>
</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid">&#160;</td>
<td style="WIDTH: 1.05%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: top; BORDER-TOP: #000000 2px solid">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1.05%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Invesco Stable Value V Trust Fund</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1.05%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;$6,489,104</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">N/A</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Daily</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 14%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">24 months</div>
</td>
</tr>
</table>

<div>&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><u>Culp, Inc. Common Stock</u></div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">This investment is valued at the closing price reported on the active market in which the individual security is traded. This investment is classified within Level 1 of the valuation hierarchy.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The Plan held 108,676 and 177,736 shares of the Company&#8217;s common stock at December 31, 2015 and 2014, respectively. The cost basis of these shares of the Company&#8217;s common stock was $804,290 and $1,224,531 at December 31, 2015 and 2014, respectively.</div>

<div style="FONT-WEIGHT: normal">&#160;</div>

<div style="FONT-WEIGHT: normal"><br>
 &#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: right" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold" id="DSPFPageNumber">Page 7</font></div>

<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div style="FONT-WEIGHT: normal">&#160;</div>

<div style="FONT-WEIGHT: normal">
<div>
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CULP, INC. EMPLOYEES' RETIREMENT BUILDER PLAN</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTES TO FINANCIAL STATEMENTS</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">DECEMBER 31, 2015, 2014 AND 2013</div>
</div>

<div>
<hr style="TEXT-ALIGN: center; BACKGROUND-COLOR: #000000; HEIGHT: 4px; COLOR: #000000; MARGIN-LEFT: auto; MARGIN-RIGHT: auto" noshade="noshade">
</div>
</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><u>Money Market Fund</u></div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">This investment is a public investment vehicle valued using $1 for the NAV.&#160; The money market fund is classified within Level 2 of the valuation hierarchy.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values.&#160; Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The following tables present information about assets and liabilities measured at fair value on a recurring basis:</div>

<div>&#160;</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="zd4a68b86b8c04811a2c8efac1ede777f" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: top" valign="bottom" colspan="16">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Fair Value Measurements at December 31, 2015 using:</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Quoted Prices in</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Active Markets</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">for Identical</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Assets</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Significant other</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Observable Inputs</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Significant</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Unobservable</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Inputs</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Description&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Level 1</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Level 2</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Level 3</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Total</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Investments at fair value:</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Registered investment companies</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">28,033,530</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">28,033,530</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Culp, Inc. common stock</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2,767,978</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2,767,978</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Money market fund</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">123,138</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">123,138</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Total investments in the fair value</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 4px double; WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">hierarchy</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">30,801,508</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">123,138</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 4px; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">30,924,646</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Investments at net asset value:</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Common and collective trust fund</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">8,565,248</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 4px double; WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">Total investments at fair value&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">$</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">39,489,894</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="TEXT-ALIGN: justify"><font style="FONT-SIZE: 5.02pt" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160; </font></div>

<div>&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: right" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold" id="DSPFPageNumber">Page 8</font></div>

<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div>&#160;</div>

<div style="FONT-WEIGHT: normal">
<div>
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CULP, INC. EMPLOYEES' RETIREMENT BUILDER PLAN</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTES TO FINANCIAL STATEMENTS</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">DECEMBER 31, 2015, 2014 AND 2013</div>
</div>

<div>
<hr style="TEXT-ALIGN: center; BACKGROUND-COLOR: #000000; HEIGHT: 4px; COLOR: #000000; MARGIN-LEFT: auto; MARGIN-RIGHT: auto" noshade="noshade">
</div>
</div>

<div><br>
</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="za650b6a9ef0c4f66b608763cde246d16" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: top" valign="bottom" colspan="16">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Fair Value Measurements at December 31, 2014 using: </div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Quoted Prices in</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Active Markets</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">for Identical</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Assets</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Significant other</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Observable Inputs</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Significant</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Unobservable</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Inputs</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Description&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Level 1</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Level 2</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Level 3</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Total</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Investments at fair value:</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Registered investment companies</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">27,239,791</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">27,239,791</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Culp, Inc. common stock</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">3,853,316</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">3,853,316</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Money market fund</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">149,440</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">149,440</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Total investments in the fair value</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 4px double; WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">hierarchy</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">31,093,107</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">149,440</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">-</div>
</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 4px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 4px; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">31,242,547</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Investments at net asset value:</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Common and collective trust fund</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2px; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">6,489,104</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 4px double; WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">Total investments at fair value<font style="FONT-SIZE: 5.02pt">&#160;&#160;</font>&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">$</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; WIDTH: 12%; VERTICAL-ALIGN: bottom" valign="bottom">37,731,651</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="TEXT-ALIGN: justify"><font style="FONT-SIZE: 5.02pt" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160; </font></div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE D - EXEMPT PARTY-IN-INTEREST TRANSACTIONS</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Plan investments include shares of the Company&#8217;s common stock. Transactions in the Company&#8217;s common stock also qualify as party-in-interest.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE E - PLAN TERMINATION</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE F - TAX STATUS</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Effective January 1, 2013, the Plan adopted a prototype plan document sponsored by an affiliate of the Plan&#8217;s trustee. The Internal Revenue Service has determined and informed the Plan&#8217;s trustee by a letter dated March 31, 2014, that the Plan is designed and in compliance with the applicable requirements of the IRC. The Plan administrator and the Plan&#8217;s tax counsel believe that the Plan is designed and currently being operated in compliance with the applicable requirements of the IRC and, therefore, believe that the Plan is qualified, and the related trust is tax-exempt.</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE G - RISKS AND UNCERTAINTIES</div>

<div style="FONT-WEIGHT: normal"><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The Plan invests in various investment securities.&#160; Investment securities are exposed to various risks, such as interest rate, credit, and overall market volatility.&#160; Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the participants&#8217; account balances and the amounts reported in the Statements of Net Assets Available for Benefits.</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</div>

<div><br>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: right" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold" id="DSPFPageNumber">Page 9</font></div>

<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>

<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>

<div><br>
</div>

<div style="TEXT-ALIGN: center; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SUPPLEMENTAL INFORMATION</div>

<div style="TEXT-ALIGN: center; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div>
<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="z62e50f4b0aba46348687f5e40c294cdd" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: top" colspan="5">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CULP, INC. EMPLOYEES&#8217; RETIREMENT BUILDER PLAN</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" colspan="10">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" colspan="3">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">EIN: 56-1001967</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" colspan="3">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">PLAN NUMBER: 001</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 4px solid; VERTICAL-ALIGN: top" colspan="10">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">December 31, 2015&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Current</div>
</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 5%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(a)</div>
</td>
<td style="BORDER-BOTTOM-COLOR: ; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 36%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(b) Borrower, Lessor or Similar Party</div>
</td>
<td style="BORDER-BOTTOM-COLOR: ; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(c) Description of Investment</div>
</td>
<td style="BORDER-BOTTOM-COLOR: ; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 11%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(d) Cost **</div>
</td>
<td style="BORDER-BOTTOM-COLOR: ; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(e) Value</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Invesco Stable Value V Trust Fund</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">8,565,248 units</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">$&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160; 8,565,248</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">MFS Value Fund</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">141,827 units</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">4,650,521</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">MFS Moderate Allocation Fund</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">257,782 units</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">4,018,828</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">MFS Total Return Fund</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">174,446 units</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2,995,242</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Franklin Dynatech Fund</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">57,191 units</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2,794,913</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">MFS Growth Allocation Fund</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">136,450 units</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2,363,311</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Lord Abbett Developing Growth Fund</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">115,068 units</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2,076,981</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Ridgeworth Mid-Cap Value Equity Fund</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">143,973 units</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,714,716</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">MFS International Diversification Fund</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">103,103 units</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,581,595</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">MFS Core Equity Fund</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">61,828 units</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,532,108</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">DWS RREEF Real Estate Securities Fund</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">54,336 units</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">1,151,930</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Pioneer Bond Fund</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">86,956 units</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">826,951</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">MFS Aggressive Growth Allocation Fund</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">38,019 units</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">713,623</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">MFS Conservative Allocation Fund</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">42,038 units</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">597,364</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">MFS Bond Fund</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">38,816 units</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">520,904</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Lord Abbett Bond Debenture Fund</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">66,921 units</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">494,543</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">MFS Money Market Fund</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;123,138 units</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">123,138</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 5%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">*</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 36%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Culp, Inc. Common Stock</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">108,676 shares</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 11%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="BORDER-BOTTOM-COLOR: ; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2,767,978</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="WIDTH: 13%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 4px; WIDTH: 5%; VERTICAL-ALIGN: top">&#160;</td>
<td style="PADDING-BOTTOM: 4px; WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="PADDING-BOTTOM: 4px; WIDTH: 36%; VERTICAL-ALIGN: top">&#160;</td>
<td style="PADDING-BOTTOM: 4px; WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="PADDING-BOTTOM: 4px; WIDTH: 30%; VERTICAL-ALIGN: top">&#160;</td>
<td style="PADDING-BOTTOM: 4px; WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="PADDING-BOTTOM: 4px; WIDTH: 11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-BOTTOM-COLOR: ; PADDING-BOTTOM: 4px; WIDTH: 1%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; WIDTH: 1%; VERTICAL-ALIGN: top">$&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; WIDTH: 13%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">39,489,894</div>
</td>
</tr>
</table>

<div>&#160;</div>

<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" id="z25b1a5e379d34d00a41a9b772af70d64" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">*</div>
</td>
<td style="WIDTH: 95%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Indicates party-in-interest.</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">**</div>
</td>
<td style="WIDTH: 95%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Cost information omitted for participant-directed investments.</div>
</td>
</tr>
</table>

<br>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: right" id="DSPFPageNumberArea"><font style="FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold" id="DSPFPageNumber">Page 10</font></div>

<div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
<hr style="BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" noshade="noshade">
</div>
</div>
</div>

<div>&#160;</div>

<div>
<div><br>
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">EXHIBIT INDEX</div>

<div><br>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify">&#160;</div>

<table style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; BORDER-TOP: medium none; BORDER-RIGHT: medium none" id="fc6e5789af7b4f8992433fd7b2f1fe4f" border="0" cellspacing="0" cellpadding="0" align="center">
<tr>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none"><u style="FONT-WEIGHT: normal">Exhibit Number</u>&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; TEXT-INDENT: 81pt; WIDTH: 40%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none"><u style="FONT-WEIGHT: normal">Exhibit</u>&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; TEXT-INDENT: 81pt; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 40%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; FONT-WEIGHT: normal; BORDER-RIGHT: medium none">23A</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; WIDTH: 40%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none"><font style="FONT-WEIGHT: normal">Consent of Independent Registered Public<br>
Accounting Firm in connection with the<br>
registration statement of Culp, Inc. on<br>
 FormS-8 (File No. 33-13310).</font> &#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; FONT-WEIGHT: bold; BORDER-RIGHT: medium none">&#160;</td>
</tr>
</table>

<div style="TEXT-ALIGN: justify">&#160;</div>
</div>
</body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.A
<SEQUENCE>2
<FILENAME>a51359612_ex23a.htm
<DESCRIPTION>EXHIBIT 23A
<TEXT>
<html>
<head>
<title></title>
<!--Licensed to: Business Wire
    Document created using EDGARfilings PROfile 4.1.0.0
    Copyright 1995 - 2016 Summit Financial Printing, LLC.  All rights reserved.-->
</head>
<body style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" bgcolor="#ffffff" text="#000000">
<div>
<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">EXHIBIT 23A</div>

<div><br>
</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>

<div><br>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The Retirement Committee of the</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Culp, Inc. Employees&#8217; Retirement Builder Plan</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">High Point, North Carolina</div>

<div><br>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">We consent to the incorporation by reference in the Registration Statement No. 33-13310 on Form S-8 of our report dated June 16, 2016, with respect to the financial statements and schedules of the Culp, Inc. Employees&#8217; Retirement Builder Plan included in this Annual Report on Form 11-K for the years ended December 31, 2015, 2014, and 2013.</div>

<div><br>
</div>

<div><br>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">/s/ Smith Leonard PLLC</div>

<div><br>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">High Point, North Carolina</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">June 16, 2016</div>
</div>
</body>
</html>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
