<SUBMISSION>
<ACCESSION-NUMBER>0001104659-05-029569
<TYPE>11-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20041231
<FILING-DATE>20050624
<DATE-OF-FILING-DATE-CHANGE>20050624
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>AXSYS TECHNOLOGIES INC
<CIK>0000206030
<ASSIGNED-SIC>3827
<IRS-NUMBER>111962029
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1228
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>11-K
<ACT>34
<FILE-NUMBER>000-16182
<FILM-NUMBER>05914014
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>175 CAPITAL BLVD SUITE 103
<CITY>ROCKY HILL
<STATE>CT
<ZIP>06067
<PHONE>2018711500
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>175 CAPITAL BLVD SUITE 103
<CITY>ROCKY HILL
<STATE>CT
<ZIP>06067
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>VERNITRON CORP
<DATE-CHANGED>19920703
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>a05-11221_111k.htm
<DESCRIPTION>11-K
<TEXT>
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<p style="border:none;color:windowtext;margin:0pt 0pt .0001pt;padding:0pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

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<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES
AND EXCHANGE COMMISSION</font></b></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WASHINGTON, D.C. 20549</font></b></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;11-K</font></b></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(Mark one)</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="100%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:100.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="3" face="Wingdings" style="font-size:12.0pt;font-weight:bold;">&#253;</font></b><b><font size="3" style="font-size:12.0pt;font-weight:bold;"> ANNUAL REPORT PURSUANT TO SECTION&nbsp;15(d)&nbsp;OF THE SECURITIES
  EXCHANGE ACT OF 1934</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:100.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">For the
  fiscal year ended December&nbsp;31, 2004</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:100.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:100.0%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">OR</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:100.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:100.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="3" face="Wingdings" style="font-size:12.0pt;font-weight:bold;">o</font></b><b><font size="3" style="font-size:12.0pt;font-weight:bold;"> TRANSITION REPORT PURSUANT TO SECTION&nbsp;15(d)&nbsp;OF THE
  SECURITIES EXCHANGE ACT OF 1934</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:100.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">For the
  transition period from &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b></p>
  </td>
 </tr>
</table>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Commission
file</font></b><b><font style="font-weight:bold;"> number 0-16182</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0pt 0pt .0001pt 54.0pt;text-autospace:none;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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>Full
title of the plan and the address of the plan, if different from that of the
issuer named below:</p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 54.0pt;text-autospace:none;text-indent:-36.0pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0pt 0pt .0001pt 54.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Axsys</font> Technologies,&nbsp;Inc. 401(k)
Retirement Plan</p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 54.0pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0pt 0pt .0001pt 54.0pt;text-autospace:none;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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>Name
of issuer of the securities held pursuant to the plan and the address of its
principal executive office:</p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 54.0pt;text-autospace:none;text-indent:-36.0pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 54.0pt;text-autospace:none;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">Axsys</font></b><b><font size="5" style="font-size:18.0pt;font-weight:bold;"> Technologies,&nbsp;Inc.</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 54.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">175 Capital Boulevard, Suite&nbsp;103</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 54.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rocky Hill, CT 06067</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 54.0pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">REQUIRED INFORMATION</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following financial
statements shall be furnished for the plan:</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0pt 0pt .0001pt 54.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Axsys</font> Technologies,&nbsp;Inc. 401(k)
Retirement Plan Financial Statements and Supplemental Schedule</p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 54.0pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 54.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Report of Independent Registered Public Accounting Firm</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 54.0pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 54.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Statements of Net Assets Available for Plan Benefits as of December&nbsp;31,
2004 and 2003</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 54.0pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 54.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Statements of Changes in Net Assets Available for Plan Benefits for the
years ended December&nbsp;31, 2004 and 2003</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 54.0pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 54.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notes to Financial Statements</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 54.0pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 18.0pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Schedule&nbsp;H, Line 4(i)&nbsp;&#150; Schedule&nbsp;of
Assets (Held at End of Year)</font></p>

<div style="border:none;border-bottom:double windowtext 9.0pt;padding:0pt 0pt 0pt 0pt;">

<p style="border:none;color:windowtext;margin:0pt 0pt .0001pt;padding:0pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

</div>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<div style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AXSYS TECHNOLOGIES, INC.</font></b></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">401 (K) RETIREMENT PLAN</font></b></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">FINANCIAL STATEMENTS AND SUPPLEMENTAL
SCHEDULE</font></b></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">FOR THE YEARS ENDED DECEMBER&nbsp;31, 2004
and 2003</font></b></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WITH REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</font></b></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AXSYS TECHNOLOGIES, INC.</font></b></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">401 (K) RETIREMENT PLAN</font></b></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">FINANCIAL STATEMENTS AND SUPPLEMENTAL
SCHEDULE</font></b></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">YEAR ENDED DECEMBER&nbsp;31, 2004</font></b></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">CONTENTS</font></u></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="95%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:95.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#ReportOfIndependentRegisteredPubl_203032" title="Click to goto Report of Independent Registered Public Accounting Firm">Report of Independent Registered Public
  Accounting Firm</a></font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:4.74%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="95%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:95.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:4.74%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="95%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:95.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FINANCIAL
  STATEMENTS:</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:4.74%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="95%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:95.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:4.74%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="95%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:95.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#StatementOfNetAssetsAvailableForP_212027" title="Click to goto STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS ">Statement of Net Assets Available for Plan
  Benefits</a></font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:4.74%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="95%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:95.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:4.74%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="95%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:95.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#StatementOfChangesInNetAssetsAvai_212115" title="Click to goto STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS ">Statement of Changes in Net Assets
  Available for Plan Benefits</a></font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:4.74%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="95%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:95.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:4.74%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
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  <td width="95%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:95.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#NotesToTheFinancial_212122" title="Click to goto NOTES TO THE FINANCIAL ">Notes to the Financial Statements</a></font></p>
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  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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  <td width="4%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:4.74%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Supplemental
  Schedule:</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:4.74%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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  <p style="color:windowtext;margin:0pt 0pt .0001pt 20.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="#SchedulehLine4i_212221" title="Click to goto SCHEDULE&#160;H, LINE 4i ">Schedule&nbsp;H, Line 4(i)&nbsp;&#150;
  Schedule&nbsp;of Assets (Held at End of Year)</a></font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:4.74%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
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</table>

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<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:ideograph-numeric ideograph-other;"><a name="ReportOfIndependentRegisteredPubl_203032"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Report of Independent Registered Public Accounting Firm</font></a></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Plan Investment Committee</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Axsys</font>
Technologies,&nbsp;Inc. 401(k) Retirement Plan</p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have audited the
accompanying statements of net assets available for plan benefits of Axsys Technologies,&nbsp;Inc. 401(k) Retirement Plan as of December&nbsp;31,
2004 and 2003, and the related statements of changes in net assets available
for plan benefits for the years then ended.&#160;
These financial statements are the responsibility of the Plan&#146;s
management.&#160; Our responsibility is to
express an opinion on these financial statements based on our audits.</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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; We were not engaged to perform an audit of
the Plan&#146;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&#146;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, and evaluating the overall financial
statements presentation.&#160; We believe that
our audits provide a reasonable basis for our opinion.</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In our opinion, the financial
statements referred to above present fairly, in all material respects, the net
assets available for plan benefits of the Plan at December&nbsp;31, 2004 and
2003 and the changes in its net assets available for plan benefits for the
years then ended, in conformity with U.S. generally accepted accounting principles.</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our audits were performed for
the purpose of forming an opinion on the financial statements taken as a whole.
The accompanying supplemental schedule&nbsp;of assets (held at end of year) as
of December&nbsp;31, 2004, is presented for purposes of additional analysis and
is not a required part of the financial statements but is supplementary
information required by the Department of Labor&#146;s Rules&nbsp;and Regulations
for Reporting and Disclosure under the Employee Retirement Income Security Act
of 1974. This supplemental schedule&nbsp;is the responsibility of the Plan&#146;s
management. The supplemental schedule&nbsp;has been subjected to the auditing
procedures applied in our audits of the financial statements and, in our
opinion, is fairly stated in all material respects in relation to the financial
statements taken as a whole.</font></p>

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<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

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 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:18.16%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/
  Ernst&nbsp;&amp; Young LLP</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:31.84%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Hartford, Connecticut</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;14, 2005</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>

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</font></div>

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<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">AXSYS TECHNOLOGIES, INC.</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">401(K) RETIREMENT PLAN</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><a name="StatementOfNetAssetsAvailableForP_212027"><font size="2" face="Times New Roman" style="font-size:10.0pt;">STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS</font></a></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="66%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:66.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="29%" colspan="5" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:29.18%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">December&nbsp;31,</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:66.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.38%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">2004</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.4%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">2003</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:66.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Assets:</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt 0pt 0pt 0pt;width:13.38%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt 0pt 0pt 0pt;width:13.4%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:66.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 20.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investments at Fair Value</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.74%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:11.64%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">29,130,207</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.74%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:11.66%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23,136,022</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:66.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.38%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.4%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:66.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Contributions receivable:</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:13.38%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:13.4%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:66.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 20.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Employees</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.38%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">169,633</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.4%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">183,536</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:66.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 20.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Employer</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.38%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">239,168</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.4%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">207,007</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:66.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total contributions receivable</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.38%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">408,801</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.4%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">390,543</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:66.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;padding:0pt 0pt 0pt 0pt;width:13.38%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;padding:0pt 0pt 0pt 0pt;width:13.4%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:66.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net assets available for plan benefits</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:double windowtext 1.5pt;padding:0pt 0pt 0pt 0pt;width:1.74%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:double windowtext 1.5pt;padding:0pt 0pt 0pt 0pt;width:11.64%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">29,539,008</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.42%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:double windowtext 1.5pt;padding:0pt 0pt 0pt 0pt;width:1.74%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:double windowtext 1.5pt;padding:0pt 0pt 0pt 0pt;width:11.66%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23,526,565</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-style:italic;letter-spacing:-.15pt;margin:0pt 0pt .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">See accompanying notes</font></i></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">AXSYS TECHNOLOGIES, INC.</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">401(K) RETIREMENT PLAN</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><a name="StatementOfChangesInNetAssetsAvai_212115"><font size="2" face="Times New Roman" style="font-size:10.0pt;">STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS</font></a></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="66%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="28%" colspan="5" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:28.8%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Year ended December&nbsp;31</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">2004</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">2003</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Additions</font></b></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investment income:</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net appreciation in fair value of
  investments</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.52%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:11.68%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,553,196</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.52%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:11.68%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,736,005</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest and dividends</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">747,657</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">562,960</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,300,853</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,298,965</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Contributions:</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Participants</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,749,020</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,478,296</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Employer</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">914,218</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">742,093</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rollovers</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,372,509</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">39,457</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,035,747</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,259,846</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total additions</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7,336,600</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,558,811</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Deductions</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Benefit payments</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,274,733</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,783,498</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Administrative expenses</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">49,424</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">48,729</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total deductions</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,324,157</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,832,227</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net increase</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6,012,443</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,726,584</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net assets available for benefits at
  beginning of year</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23,526,565</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.2%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19,799,981</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="66%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:66.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net assets available for benefits at end of
  year</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:double windowtext 1.5pt;padding:0pt 0pt 0pt 0pt;width:1.52%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:double windowtext 1.5pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:11.68%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">29,539,008</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:double windowtext 1.5pt;padding:0pt 0pt 0pt 0pt;width:1.52%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:double windowtext 1.5pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:11.68%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23,526,565</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">See accompanying notes.</font></i></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AXSYS TECHNOLOGIES, INC.</font></b></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">401(K) RETIREMENT PLAN</font></b></p>

<p align="center" style="color:windowtext;font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><a name="NotesToTheFinancial_212122"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">NOTES
TO THE FINANCIAL </font></b></a><b><font style="font-weight:bold;">STATEMENTS</font></b></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DECEMBER&nbsp;31, 2004</font></b></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Note A &#150; Plan Description</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 36.0pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following description of
the Axsys Technologies,&nbsp;Inc. 401(k) Retirement
Plan (the &#147;Plan&#148;) provides only general information.&#160; Participants should refer to the Plan
document and Summary Plan Description for a more complete description of the
Plan&#146;s provisions.</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">General</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Axsys</font>
Technologies,&nbsp;Inc. (the &#147;Company&#148;) has maintained the Plan, which
qualifies under section&nbsp;401(a)&nbsp;and 401(k) of the Internal Revenue
Code (the &#147;Code&#148;), since April&nbsp;1, 1985.&#160;
All employees who are not members of collective bargaining groups and
who are 21 years of age or older and have completed six months of continuous
employment are eligible to participate in the Plan.&#160; The Plan is subject to the provisions of the
Employee Retirement Income Security Act of 1974 (&#147;ERISA&#148;).</p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Background</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On April&nbsp;8, 2004
(the &#147;Closing Date&#148;), Axsys acquired all of the stock
of Telic Optics,&nbsp;Inc. (&#147;Telic&#148;), a privately-owned manufacturer of
infrared optical products.&#160;&#160; The Company
approved an amendment to the Plan to give Telic employees who are employees as
of the Closing Date credit for their prior service with Telic for purposes of
determining vesting and eligibility in the Plan.&#160; The Directors of the Company also approved an
amendment to the Plan to provide Telic employees who have satisfied the Plan&#146;s
requirements participation in the Plan as of the Closing Date.</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Effective September&nbsp;1, 2000, the Company amended and restated the
Plan pursuant to an Adoption Agreement adopting The CORPORATE<i><font style="font-style:italic;">plan</font></i><i><font style="font-style:italic;"> for Retirement</font></i>
Prototype Basic Plan Document, sponsored by Fidelity, (the &#147;Fidelity Plan&#148;).&#160; The Company has appointed Fidelity Management
Trust Company (&#147;Fidelity&#148;) as trustee of a separate trust established pursuant
to the Fidelity Plan effective as of September&nbsp;1, 2000 (the &#147;Fidelity
Trust&#148;).&#160; Fidelity will be the trustee of
all Plan assets, other than the guaranteed interest accounts under the New
England Life Insurance Company annuity contracts, which, effective September&nbsp;1,
2000, comprise part of the Axsys Stable Value Fund
along with certain assets in the Fidelity Trust&#160; (the transferred assets being referred
to as &#147;Transferred Assets&#148; and the remaining assets being referred to as the &#147;Insurance
Contracts&#148;).&#160; Stephen W. Bershad and David A. Almeida continue to be the co-trustees
of the Insurance Contract Trust, which, effective September&nbsp;1, 2000, holds
assets exclusively attributable to the Insurance Contracts.</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In connection with the
amendment and restatement of the Plan, the Company intends to maintain the
Insurance Contract Trust separately from the Fidelity Trust until the maturity
or liquidation of the Insurance Contracts or participant withdrawals or
participant-directed investment transfers from the Axsys
Stable Value Fund to another investment fund, at which time those assets will
be transferred to the Fidelity Trust (unless otherwise directed by the Company&#146;s
Investment Committee).</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Once all assets
attributable to the Insurance Contracts are transferred to the Fidelity Trust
or otherwise are distributed to satisfy withdrawals from the Axsys Stable Value Fund, Stephen W. Bershad
and David A. Almeida will no longer serve as co-trustees of the Insurance
Contract Trust.</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Although the Plan assets will
be held in two separate trusts, the Plan is a &#147;single plan&#148; as described in
Treasury Regulation Section&nbsp;1.414(l)-1(b)(1)&nbsp;and
all assets of both the Insurance Contract Trust and the Fidelity Trust will be
available to pay benefits to participants and beneficiaries of the Plan.</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Contributions</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Participating employees may
elect to defer a portion of their compensation and contribute it to the Plan on
a pre-tax basis.&#160; The minimum allowable
contribution under the Plan is 1% of annual gross pay.&#160; The maximum contribution to the Plan is</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">limited</font>
by the Tax Reform Act of 1986 and was $13,000 in 2004 and $12,000 in 2003.&#160; The Company matched 100% of the first 3%
contributed and 50% of the next 2% contributed, for a maximum of 4% during 2004
and 2003.</p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

<div style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Payment of Benefits</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Employees participating in the
Plan are eligible to receive a benefit upon their normal retirement date, early
retirement date, or disability retirement date equal to the amount in their
individual accounts.&#160; Participant
contributions and related investment returns are 100% vested.&#160; Employer matching contributions and related
investment returns vest as follows:</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="45%" style="border-collapse:collapse;margin-left:72.0pt;width:45.42%;">
 <tr>
  <td width="58%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:58.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Completed Years of Service</font></b></p>
  </td>
  <td width="5%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.44%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="31%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:31.9%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Percentage Vested</font></b></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:4.22%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="58%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt 0pt 0pt 0pt;width:58.44%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">less than 1</font></p>
  </td>
  <td width="5%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:5.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt 0pt 0pt 0pt;width:31.9%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">0</font></p>
  </td>
  <td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:4.22%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="58%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:58.44%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>
  </td>
  <td width="5%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:31.9%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:4.22%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="58%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:58.44%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>
  </td>
  <td width="5%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:5.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:31.9%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">50</font></p>
  </td>
  <td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:4.22%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="58%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:58.44%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  </td>
  <td width="5%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:5.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:31.9%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">75</font></p>
  </td>
  <td width="4%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:4.22%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
 <tr>
  <td width="58%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:58.44%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>
  </td>
  <td width="5%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:5.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:31.9%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100</font></p>
  </td>
  <td width="4%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:4.22%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">%</font></p>
  </td>
 </tr>
</table>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Participant Loans</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Participants are eligible to
borrow from their vested accounts in accordance with the Plan provisions.&#160; The maximum amount of any loan is the lesser
of (a)&nbsp;$50,000 or (b)&nbsp;one-half of the participant&#146;s vested balance.
Loans are not made for less than $1,000.&#160;
Only one loan can be received per plan year and no more than two loans
may be outstanding at any one time.&#160; All
loans must be repaid, by payroll deductions within five years, except those
loans used for the purchase of a principal residence, which must be repaid
within twenty years.&#160; Participant loans
are charged interest at the prime rate.</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Plan Termination</font></b></p>

<p style="color:windowtext;font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">While the Company has not
expressed any intention to discontinue the Plan, it is free to do so subject to
the provisions of ERISA.&#160; No such
termination, however, shall permit the Plan&#146;s assets to be used for any purpose
other than the exclusive benefit of the participating employees.&#160; In the event of Plan termination,
participants will become 100% vested in their accounts.</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Note B &#150; Summary of Accounting Policies</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investment Valuation and Income Recognition</font></b></p>

<p style="color:windowtext;font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investments are made as
directed by the Plan&#146;s participants.&#160;
Investments consisting of guaranteed investment contracts are recorded
at contract value.&#160; All other investments
are valued at fair value which equals the quoted market price on December&nbsp;31,
2004 and 2003 using share values of the funds as reported by Fidelity
Investments Institutional Services Inc., the custodian of the Plan.</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Participant loans are valued at
their outstanding balances, which approximate fair value.</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Purchases and sales of
securities are recorded on a trade-date basis.&#160;
Interest income is recorded on the accrual basis.</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Use
of Estimates</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The preparation of financial
statements in conformity with U.S. generally accepted accounting principles
requires management to make estimates and assumptions that can affect the
amounts reported in the financial statements and</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>

<div style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">accompanying</font>
notes.&#160; Actual results could differ from
those estimates.</p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Reclassification</font></b></p>

<p style="color:windowtext;font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Certain 2003 financial
statement amounts have been reclassified to conform to the 2004 financial
statement presentation.</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Note C &#150; Investments</font></b></p>

<p style="color:windowtext;font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following investments represent 5% or more of the Plan&#146;s net
assets:</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="85%" style="border-collapse:collapse;margin-left:18.0pt;width:85.0%;">
 <tr>
  <td width="65%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:65.98%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-autospace:none;text-indent:-10.0pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="29%" colspan="5" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:29.16%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">December&nbsp;31,</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:65.98%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-autospace:none;text-indent:-10.0pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.36%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">2004</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.36%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">2003</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:65.98%;">
  <p style="color:windowtext;font-size:10.0pt;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Axsys</font> Stable
  Value Fund</p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt 0pt 0pt 0pt;width:1.62%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:11.74%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,709,641</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt 0pt 0pt 0pt;width:1.62%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:11.74%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,484,076</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:65.98%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fidelity Blue Chip Growth Fund</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:13.36%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,355,397</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:13.36%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,025,355</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:65.98%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fidelity Balanced Fund</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.36%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,438,392</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.36%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,167,134</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:65.98%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fidelity Growth Company Fund</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:13.36%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,398,845</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:13.36%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,011,202</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:65.98%;">
  <p style="color:windowtext;font-size:10.0pt;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Axsys</font>
  Technologies,&nbsp;Inc. Common Stock</p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.36%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,326,186</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.36%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,290,963</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:65.98%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fidelity Diversified International Fund</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:13.36%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,875,752</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:13.36%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,207,788</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:65.98%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fidelity Investment Grade Bond Fund</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.36%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.36%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,346,806</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:65.98%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fidelity Stock Selector Fund</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:13.36%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:13.36%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,234,078</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="426" style="border:none;"></td>
  <td width="16" style="border:none;"></td>
  <td width="10" style="border:none;"></td>
  <td width="76" style="border:none;"></td>
  <td width="16" style="border:none;"></td>
  <td width="10" style="border:none;"></td>
  <td width="76" style="border:none;"></td>
  <td width="6" style="border:none;"></td>
 </tr>
</table>

<p style="color:windowtext;margin:0pt 0pt .0001pt 36.0pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Plan&#146;s investments
(including investments bought, sold, as well as held during the year)
appreciated in fair value as reflected below:</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 36.0pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="80%" style="border-collapse:collapse;margin-left:18.0pt;width:80.0%;">
 <tr>
  <td width="65%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:65.94%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-autospace:none;text-indent:-10.0pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.5%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.12%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">2004</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.24%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.8%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">2003</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:65.94%;">
  <p style="color:windowtext;font-size:10.0pt;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Axsys</font> Common
  Stock</p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.5%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt 0pt 0pt 0pt;width:1.62%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:11.5%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,114,023</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.24%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt 0pt 0pt 0pt;width:1.62%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:12.18%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">629,898</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:65.94%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investment in Registered Investment Co.&#146;s
  (Mutual Funds)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.5%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.12%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,439,173</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.24%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.8%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,106,107</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:65.94%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.5%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:double windowtext 1.5pt;padding:0pt 0pt 0pt 0pt;width:1.62%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:double windowtext 1.5pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:11.5%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,553,196</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.24%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:double windowtext 1.5pt;padding:0pt 0pt 0pt 0pt;width:1.62%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:double windowtext 1.5pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:12.18%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,736,005</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Plan has investments in
guaranteed investment contracts that are recorded at contract value, which are
included in the Axsys Stable Value Fund.&#160; Contract value represents contributions made
under the contract, plus interest at the contract rate, less withdrawals from
the contract.&#160; The interest rate and
yield for the guaranteed investment contracts were 5.92% in 2004 and 6.03% in
2003.&#160; No valuation reserves have been
established to adjust contract amounts since, at December&nbsp;31, 2004, there is no concern with the credit worthiness of the
contract issuer, New England Life Insurance Company.</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Board of Directors
announced on June&nbsp;1, 2004, the declaration of a 3:2 stock split effected
as a stock dividend payable on June&nbsp;30, 2004 to stockholders of record on June&nbsp;15,
2004.&#160; Stockholders received a dividend
of one additional share of Axsys Technologies,&nbsp;Inc.
$0.01 par value common stock for every two shares owned on the record date.</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p>

<div style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Note D &#150; Reconciliation between Financial Statements and Form&nbsp;5500</font></b></p>

<p style="color:windowtext;font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following is a
reconciliation of the net assets available for plan benefits per the financial
statements to the Plan&#146;s Form&nbsp;5500:</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 36.0pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="90%" style="border-collapse:collapse;margin-left:18.0pt;width:90.0%;">
 <tr>
  <td width="65%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:65.28%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-autospace:none;text-indent:-10.0pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.48%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="29%" colspan="5" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:29.76%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">December&nbsp;31,</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:65.28%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-autospace:none;text-indent:-10.0pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.48%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.64%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">2004</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.48%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.64%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">2003</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:65.28%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net assets available for plan benefits per
  the financial statements</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.48%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt 0pt 0pt 0pt;width:1.62%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">29,539,008</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.48%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt 0pt 0pt 0pt;width:1.62%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23,526,565</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:65.28%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Loan repayment/contribution receivable</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.48%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:13.64%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.48%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:13.64%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(52,326</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt .7pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:65.28%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Loans in default</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.48%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.64%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1,859</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt .7pt 0pt;width:2.48%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.64%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(18,632</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt .7pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:65.28%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Benefit payable</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.48%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.64%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(178</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt .7pt 0pt;width:2.48%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.64%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(69,752</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt .7pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>
  </td>
 </tr>
 <tr>
  <td width="65%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:65.28%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Net assets available for plan benefits per
  the Form&nbsp;5500</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.48%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:double windowtext 1.5pt;padding:0pt 0pt 0pt 0pt;width:1.62%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:double windowtext 1.5pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">29,536,971</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.48%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:double windowtext 1.5pt;padding:0pt 0pt 0pt 0pt;width:1.62%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border-bottom:double windowtext 1.5pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23,385,855</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The following is a reconciliation of the contributions per the
financial statements to the Form&nbsp;5500:</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 18.0pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="90%" style="border-collapse:collapse;margin-left:18.0pt;width:90.0%;">
 <tr>
  <td width="46%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:46.12%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-autospace:none;text-indent:-10.0pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.96%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="49%" colspan="11" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:49.98%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Year Ended December&nbsp;31,</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="46%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:46.12%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-autospace:none;text-indent:-10.0pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.96%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="24%" colspan="5" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:24.0%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">2004</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.96%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="24%" colspan="5" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:24.02%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">2003</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="46%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:46.12%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-autospace:none;text-indent:-10.0pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.96%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="11%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:11.02%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Participant</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.96%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="11%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:11.02%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Employer</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.96%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="11%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:11.02%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Participant</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.98%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="11%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:11.02%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Employer</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="46%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:46.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Contributions per the financial statements</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.96%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt 0pt 0pt 0pt;width:1.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="9%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:9.58%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,121,529</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.96%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt 0pt 0pt 0pt;width:1.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="9%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:9.58%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">914,218</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.96%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt 0pt 0pt 0pt;width:1.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="9%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:9.58%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,517,753</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.98%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt 0pt 0pt 0pt;width:1.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="9%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:9.58%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">742,093</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="46%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:46.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Change in contribution and other
  receivables from beginning of year to end of year</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.96%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:11.02%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">53,133</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.96%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:11.02%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.96%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:11.02%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(13,457</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.98%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">)</font></p>
  </td>
  <td width="11%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:11.02%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#151;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="46%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:46.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.96%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt 0pt 0pt 0pt;width:11.02%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.96%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:11.02%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.96%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:11.02%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.98%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="11%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:11.02%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="46%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:46.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt 10.0pt;text-autospace:none;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Contributions per the Form&nbsp;5500</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.96%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0pt 0pt 0pt 0pt;width:1.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="9%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0pt 0pt 0pt 0pt;width:9.58%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,174,662</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.96%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0pt 0pt 0pt 0pt;width:1.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="9%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0pt 0pt 0pt 0pt;width:9.58%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">914,218</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.96%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0pt 0pt 0pt 0pt;width:1.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="9%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0pt 0pt 0pt 0pt;width:9.58%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,504,296</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.98%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0pt 0pt 0pt 0pt;width:1.44%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="9%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0pt 0pt 0pt 0pt;width:9.58%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">742,093</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="color:windowtext;margin:0pt 0pt .0001pt 18.0pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Note
E </font></b>&#150;<b><font style="font-weight:bold;"> Income Tax
Status</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The underlying non-standardized
prototype plan has received an opinion letter from the Internal Revenue Service
(IRS) dated October&nbsp;9, 2003 stating that the form of the plan is qualified
under Section&nbsp;401 of the Internal Revenue Code, and therefore, the related
trust is tax exempt.&#160; In accordance with
Revenue Procedure 2002-6 and Announcement 2001-77, the Plan Sponsor has
determined that it is eligible to and has chosen to rely on the current IRS
prototype plan opinion letter.&#160; Once
qualified, the Plan is required to operate in conformity with the Code to
maintain its qualification.&#160; The plan
administrator believes the Plan is being operated in compliance with the
applicable requirements of the Code and, therefore, believes that the Plan is
qualified and the related trust is tax exempt.</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8</font></p>

<div style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Note F &#150; Risks and Uncertainties</font></b></p>

<p style="color:windowtext;font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Plan invests in various
investment securities.&#160; Investment
securities are exposed to various risks such as interest rate, market and
credit risks.&#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 participants&#146; account
balances and the amounts reported in the statements of net assets available for
plan benefits.</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Note G &#150; Subsequent Events</font></b></p>

<p style="color:windowtext;font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On May&nbsp;2, 2005, the
Company acquired all of the outstanding capital stock of Diversified Optical
Products,&nbsp;Inc., a New York corporation (&#147;DiOP&#148;).&#160; Upon closing the acquisition, the Company
authorized and approved an amendment to the Plan to allow DiOP
to become a participating employer in the Plan and to provide DiOP employees who were employees of DiOP
as of the date of the Transaction credit for their prior service with DiOP for purposes of determining vesting and eligibility
under the Plan.</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9</font></p>

<div style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

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<div style="font-family:Times New Roman;">

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">AXSYS TECHNOLOGIES, INC.</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">401(K) RETIREMENT PLAN</font></p>

<p align="center" style="color:windowtext;font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><a name="SchedulehLine4i_212221"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SCHEDULE&nbsp;H,
LINE 4i </font></a>&#150; SCHEDULE&nbsp;OF ASSETS (HELD AT END OF
YEAR)</p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">PLAN SPONSOR EIN 11-1962029</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">PLAN # 011</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DECEMBER&nbsp;31, 2004</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="39%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <h1 align="left" style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-align:left;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Identity of Issue, Borrower or Similar Party</font></b></h1>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <h1 align="center" style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></h1>
  </td>
  <td width="41%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:41.04%;">
  <h1 align="center" style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description of Investment<br>
  (Including Number of Shares or<br>
  Maturity Date and Rate of Interest)</font></b></h1>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <h1 align="center" style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></h1>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <h1 align="center" style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Current<br>
  Value</font></b></h1>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <h1 align="center" style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></h1>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="border:none;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="41%" colspan="2" valign="top" style="border:none;padding:0pt 0pt 0pt 0pt;width:41.04%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="border:none;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="border:none;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;font-size:10.0pt;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Axsys</font> Stable Value Fund</p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,709,641</font></p>
  </td>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;shares</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.3%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:12.24%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,709,641</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fidelity Blue Chip Growth
  Fund*</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">104,421</font></p>
  </td>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;shares</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4,355,397</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fidelity Balanced Fund*</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">192,951</font></p>
  </td>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;shares</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,438,392</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fidelity Growth Company
  Fund*</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">42,783</font></p>
  </td>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;shares</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,398,845</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;font-size:10.0pt;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Axsys</font> Technologies,&nbsp;Inc. Common Stock *</p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">132,849</font></p>
  </td>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;shares</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2,326,186</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fidelity Diversified
  International Fund*</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">65,494</font></p>
  </td>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;shares</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,875,752</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fidelity Investment Grade
  Bond Fund*</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">194,330</font></p>
  </td>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;shares</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,463,304</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fidelity Freedom 2020
  Fund*</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">104,819</font></p>
  </td>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;shares</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,463,274</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Spartan US Equity Index
  Fund*</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">33,874</font></p>
  </td>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;shares</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,451,850</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fidelity Stock Selector
  Fund*</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">59,415</font></p>
  </td>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;shares</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,355,260</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fidelity Freedom 2030
  Fund*</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">65,841</font></p>
  </td>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;shares</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">927,042</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Strong Advisor Smallcap Fund</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22,617</font></p>
  </td>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;shares</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">664,932</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fidelity Equity Income II
  Fund*</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26,106</font></p>
  </td>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;shares</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">626,814</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fidelity Freedom 2010
  Fund*</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22,786</font></p>
  </td>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;shares</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">310,347</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">MSI Small Company Growth
  Fund</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21,469</font></p>
  </td>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;shares</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">258,060</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fidelity Freedom 2040*</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5,547</font></p>
  </td>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;shares</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">45,871</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fidelity Freedom Income
  Fund*</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,471</font></p>
  </td>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;shares</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">39,116</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Retirement Money Market*</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,383</font></p>
  </td>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;shares</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,383</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fidelity Freedom 2015*</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">296</font></p>
  </td>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;shares</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3,276</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fidelity Freedom 2025*</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:22.86%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">53</font></p>
  </td>
  <td width="18%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:18.18%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;shares</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">601</font></p>
  </td>
  <td width="1%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="41%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:41.04%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Participant loans*</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="41%" colspan="2" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:41.04%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Bear interest at rates
  ranging from 4.00% to 10.5% with varying maturity dates</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:13.54%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,412,864</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="39%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:39.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.26%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="41%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:41.04%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.78%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0pt 0pt 0pt 0pt;width:1.3%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="border-bottom:double windowtext 1.5pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:12.24%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">29,130,207</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0pt 0pt 0pt 0pt;width:1.26%;">
  <p align="right" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="1" width="25%" noshade color="black" align="left">

</font></div>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">* Indicates party-in-interest to the Plan.</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10</font></p>

<div style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
<!-- SEQ.=1,FOLIO='10',FILE='C:\JMS\eudelhofen\05-11221-1\task476944\11221-1-ba.htm',USER='eudelho',CD='Jun 24 08:53 2005' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h3 style="color:windowtext;font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:auto;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBITS</font></b></h3>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0pt 0pt .0001pt 18.0pt;text-autospace:none;text-indent:-18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Exhibits</p>

<p style="color:windowtext;margin:0pt 0pt .0001pt 18.0pt;text-autospace:none;text-indent:-18.0pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="90%" style="border-collapse:collapse;margin-left:18.0pt;width:90.0%;">
 <tr>
  <td width="6%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:6.38%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;23</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:1.5%;">
  <p align="left" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="92%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:92.12%;">
  <p align="left" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of Independent Registered Public Accounting Firm</font></p>
  </td>
 </tr>
</table>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURES</font></b></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;font-size:10.0pt;margin:0pt 0pt .0001pt;text-autospace:none;"><i><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-style:italic;">The</font>
Plan.</font></i>&#160; Pursuant to the
requirements of the Securities Exchange Act of 1934, the trustees (or other
person who administer the employee benefit plan) have duly caused this annual
report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="96%" style="border-collapse:collapse;margin-left:18.0pt;width:96.0%;">
 <tr>
  <td width="28%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:28.38%;">
  <h4 style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></h4>
  </td>
  <td width="27%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:27.22%;">
  <h4 style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></h4>
  </td>
  <td width="39%" colspan="3" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:39.3%;">
  <h4 style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Axsys</font><font size="2" style="font-size:10.0pt;">
  Technologies,&nbsp;Inc. 401(k) Retirement Plan</font></h4>
  </td>
  <td width="5%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:5.1%;">
  <h4 style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></h4>
  </td>
 </tr>
 <tr>
  <td width="28%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:28.38%;">
  <h4 style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></h4>
  </td>
  <td width="27%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:27.22%;">
  <h4 style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></h4>
  </td>
  <td width="44%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:44.4%;">
  <h4 style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">(Plan Name)</font></i></h4>
  </td>
 </tr>
 <tr>
  <td width="28%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:28.38%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="27%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:27.22%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="44%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:44.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="28%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:28.38%;">
  <h4 style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h4>
  </td>
  <td width="27%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:27.22%;">
  <h4 style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h4>
  </td>
  <td width="44%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:44.4%;">
  <h4 style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h4>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:7.12%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DATE: </font></p>
  </td>
  <td width="11%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:11.58%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;24,
  2005</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:9.66%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="27%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:27.22%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="19%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:19.04%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Stephen
  W. Bershad</font></p>
  </td>
  <td width="25%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:25.36%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="28%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:28.38%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="27%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:27.22%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="44%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:44.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stephen W. Bershad</font></p>
  </td>
 </tr>
 <tr>
  <td width="28%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:28.38%;">
  <h4 style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></h4>
  </td>
  <td width="27%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:27.22%;">
  <h4 style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></h4>
  </td>
  <td width="44%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:44.4%;">
  <h4 style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Executive Officer</font></h4>
  </td>
 </tr>
 <tr>
  <td width="28%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:28.38%;">
  <h4 style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h4>
  </td>
  <td width="27%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:27.22%;">
  <h4 style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h4>
  </td>
  <td width="44%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:44.4%;">
  <h4 style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h4>
  </td>
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  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DATE: </font></p>
  </td>
  <td width="11%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:11.58%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;24,
  2005</font></p>
  </td>
  <td width="9%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:9.66%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="27%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:27.22%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:17.5%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ David A.
  Almeida</font></p>
  </td>
  <td width="26%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:26.9%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="28%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:28.38%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="27%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:27.22%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="44%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:44.4%;">
  <p style="color:windowtext;margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">David A.
  Almeida</font></p>
  </td>
 </tr>
 <tr>
  <td width="28%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:28.38%;">
  <h4 style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></h4>
  </td>
  <td width="27%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:27.22%;">
  <h4 style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></h4>
  </td>
  <td width="44%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:44.4%;">
  <h4 style="color:windowtext;font-weight:normal;margin:0pt 0pt .0001pt;page-break-after:auto;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President&nbsp;&amp;
  Chief Financial Officer</font></h4>
  </td>
 </tr>
 <tr height="0">
  <td width="51" style="border:none;"></td>
  <td width="83" style="border:none;"></td>
  <td width="70" style="border:none;"></td>
  <td width="195" style="border:none;"></td>
  <td width="126" style="border:none;"></td>
  <td width="11" style="border:none;"></td>
  <td width="145" style="border:none;"></td>
  <td width="37" style="border:none;"></td>
 </tr>
</table>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="color:windowtext;margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>

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<FILENAME>a05-11221_1ex23.htm
<DESCRIPTION>EX-23
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;23</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of Independent Registered Public
Accounting Firm</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We consent to the incorporation by reference in the Registration
Statements (Form&nbsp;S-8 No.&nbsp;33-79996, Post-Effective Amendment No.1 to Form&nbsp;S-8
No.&nbsp;33-79996, and Form&nbsp;S-8 No.&nbsp;333-118158) pertaining to the
Axsys Technologies,&nbsp;Inc. 401(k) Retirement Plan of our report dated June&nbsp;14,
2005, with respect to the financial statements and schedule&nbsp;of the Axsys
Technologies,&nbsp;Inc. 401(k) Retirement Plan and Trust included in this
Annual Report (Form&nbsp;11-K) for the year ended December&nbsp;31, 2004.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="56%" valign="top" style="padding:0in 0in 0in 0in;width:56.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:18.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Ernst&nbsp;&amp; Young LLP</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.58%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Hartford, Connecticut</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp; 21, 2005</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

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