13F-HR 1 a2152048z13f-hr.txt 13F-HR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 12/31/2004 ----------------------- Check Here if Amendment / /; Amendment Number: --------- This Amendment (Check only one.): / / is a restatement. / / adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Dresdner Bank AG ------------------------------- Address: Juergen Ponto Platz 1 ------------------------------- Frankfurt am Main ------------------------------- Germany ------------------------------- Form 13F File Number: 28-6198 --------------------- The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: D. Christian Southwick ------------------------------- Title: Attorney-in-Fact ------------------------------- Phone: 212-895-1909 ------------------------------- Signature, Place, and Date of Signing: D. Christian Southwick NY, NY 2/16/2005 ------------------------------- ----------------- ------------- /s/ D. Christian Southwick New York, NY 2/16/05 Report Type (Check only one.): /X/ 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) / / 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) / / 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: None. Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 -------------------- Form 13F Information Table Entry Total: 1359 -------------------- Form 13F Information Table Value Total: 11,632,785.74 -------------------- (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- --------------- --------- -------- ---------------------- ------------ ---------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- --------------- --------- -------- --------- ----- ------ ------------ ---------- ------ -------- ------ ABB LTD SPONSORED ADR 000375204 11.10 2,000 SH SOLE X ADC TELECOMMUNCAT.INC. COM 000886101 18.26 6,430 SH SOLE X AFLAC INC. COM 001055102 754.78 18,495 SH SOLE X AES CORP. COM 00130H105 115.71 11,653 SH SOLE X AMB PROPERTY CORP. COM 00163T109 6.93 200 SH SOLE X AMR CORP. COM 001765106 16.23 1,340 SH SOLE X AT & T (NEW) COM 001957505 559.89 38,270 SH SOLE X ASAT HLDGS SP.ADR SPONSORED ADR 00208B105 1.00 500 SH SOLE X AT & T WIRELESS SERVICES INC. COM 00209A106 1168.55 81,603 SH SOLE X ABBOTT LABORATORIES COM 002824100 1587.44 38,946 SH SOLE X ABERCROMBIE & FTCH CL A 002896207 7.75 200 SH SOLE X ABBEY NATL ADR-B ADR PRF B7.375 002920700 392.38 15,005 SH SOLE X ABGENIX INC COM 00339B107 9.38 800 SH SOLE X ACCLAIM ENTERTAINMENT INC. COM PAR $0.02 004325205 1.53 4,500 SH SOLE X ACTIVE POWER INC. COM 00504W100 1.60 500 SH SOLE X ADAPTEC INC COM 00651F108 0.45 53 SH SOLE X ADOBE SYSTEMS INC. COM 00724F101 44.18 950 SH SOLE X ADTRAN INC. COM 00738A106 6.67 200 SH SOLE X ADVANCED FIBRE COMMUNICATION COM 00754A105 26.26 1,300 SH SOLE X ADVANCED MICRO DEV. COM 007903107 414.99 26,100 SH SOLE X AEGON N V ORD AMER REG 007924103 12.52 1,033 SH SOLE X AETNA INC. COM 00817Y108 21105.50 248,300 SH SOLE X AFFILIATED COMP. - CLASS A - CL A 008190100 213.08 4,025 SH SOLE X AFFYMETRIX INC. COM 00826T108 34.37 1,050 SH SOLE X AFFORDABLE RESID. COMMUNIT. INC. COM 08273104 83.00 5,000 SH SOLE X AGERE SYSTEMS INC. CL A 00845V100 11270.49 4,900,212 SH SOLE X AGERE SYSTEMS INC. CL.B CL B 00845V209 107.21 49,863 SH SOLE X AGILENT TECHNOLOGIES INC. COM 00846U101 67.70 2,312 SH SOLE X AGNICO EAGLE MINES LTD COM 008474108 7.94 601 SH SOLE X AIR PRODUCTS & CHEMICALS. PLC COM 009158106 25.18 480 SH SOLE X AKAMAI TECHNOLOGIES INC. COM 00971T101 134.63 7,500 SH SOLE X AKTIEBOLAGETT ELECTROLUX SPONSORED ADR 010198208 7.69 200 SH SOLE X ALBERTO CULVER CO. CL.B COM 013068101 10.03 200 SH SOLE X ALBERTSON'S INC. COM 013104104 20.65 778 SH SOLE X ALCOA INC. COM 013817101 6561.38 198,649 SH SOLE X ALCATEL S.A. (SPONS.ADR'S) SPONSORED ADR 013904305 4796.71 309,665 SH SOLE X ALKERMES INC COM 01642T108 19.72 1,450 SH SOLE X ALLERGAN INC. COM 018490102 26.86 300 SH SOLE X ALLIANT TECHSYSTEMS INC COM 018804104 6.33 100 SH SOLE X ALLIANZ -V.NAM.-(SP.ADRS)1/10 SP ADR 1/10 SHR 018805101 376.63 34,395 SH SOLE X ALLIED CAPITAL CORP.(NEW) COM 01903Q108 8.06 330 SH SOLE X ALLSCRIPTS HEALTHCARE SOL.INC. COM 01988P108 7.84 1,000 SH SOLE X THE*ALLSTATE CORP. COM 020002101 713.33 15,324 SH SOLE X ALLTEL CORP. COM 020039103 124.78 2,465 SH SOLE X ALSTOM SPONSORED ADR 021244108 10.26 8,920 SH SOLE X ALTERA CORP. COM 021441100 88.64 4,000 SH SOLE X ALTEON INC. COM 02144G107 0.24 200 SH SOLE X ALTRIA GROUP INC. COM 02209S103 14571.91 291,147 SH SOLE X AMAZON COM.INC. COM 023135106 163.20 3,000 SH SOLE X

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- --------------- --------- -------- ---------------------- ------------ ---------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- --------------- --------- -------- --------- ----- ------ ------------ ---------- ------ -------- ------ AMBAC FINANCIAL GROUP INC. COM 023139108 17.99 245 SH SOLE X AMERADA HESS CORP. COM 023551104 15.84 200 SH SOLE X AMEREN CORP. COM 023608102 106.54 2,480 SH SOLE X AMERICA MOVIL-L-SP.ADR'S SPON ADR L SHS 02364W105 94.93 2,610 SH SOLE X AMERICA ONLINE LATIN AMER.INC CL A 02365B100 0.21 300 SH SOLE X AMER.ACCESS TECHNOLOGIES INC. COM 02368F108 0.83 500 SH SOLE X AMERICAN ELECTRIC POWER CO. COM 025537101 24.96 780 SH SOLE X AMERICAN EXPRESS CO. COM 025816109 8614.83 167,669 SH SOLE X AMERICAN ITL.GROUP COM 026874107 41715.41 585,233 SH SOLE X AMERICAN POW.CONV.CORP. COM 029066107 9.24 470 SH SOLE X AMER.STANDARD COMPANIES INC. COM 029712106 80.22 1,990 SH SOLE X AMER.SUPERCONDUCTOR CORP. COM 030111108 43.16 3,300 SH SOLE X AMERISOURCEBERGEN CORP. COM 03073E105 197.87 3,310 SH SOLE X AMGEN INC. COM 031162100 20540.15 376,400 SH SOLE X AMKOR TECHNOLOGY INC. COM 031652100 3.27 400 SH SOLE X AMSOUTH BANCORPORATION COM 032165102 18.08 710 SH SOLE X AMYLIN PHARMACEUTICALS INC. COM 032346108 135.20 5,930 SH SOLE X ANADARKO PETROCEUM CORP. COM 032511107 31.76 542 SH SOLE X ANALOG DEVICES INC. COM 032654105 170.90 3,630 SH SOLE X ANDRX GROUP COM 034553107 94.96 3,400 SH SOLE X ANHEUSER BUSCH COS.INC. COM 035229103 5022.27 93,005 SH SOLE X ANTHEM INC. COM 03674B104 46115.16 514,908 SH SOLE X AO TATNEFT SPON ADR REG S 03737P306 79.71 3,000 SH SOLE X AON CORP. COM 037389103 17.51 615 SH SOLE X APACHE CORP. COM 037411105 27.96 642 SH SOLE X APARTMENT INVT & MGMT CO.-A- CL A 03748R101 7.16 230 SH SOLE X APOLLO GROUP INC.-A- CL A 037604105 491.78 5,570 SH SOLE X APPLE COMPUTER INC. COM 037833100 1015.87 31,219 SH SOLE X APPLERA CORP. -APPL. BIOSYST.- COM AP BIO GRP 038020103 26.10 1,200 SH SOLE X APPLERA CORP. -CELERA GR.- COM CE GEN GRP 038020202 0.73 63 SH SOLE X APPLIED MATERIALS INC. COM 038222105 1261.64 64,304 SH SOLE X ARCHER DANIELS-MIDLAND CO COM 039483102 55.37 3,300 SH SOLE X ARCHST.-SMITH TRUST COM 039583109 14.08 480 SH SOLE X ARIBA INC. COM 04033V104 323.17 27,066 SH SOLE X ARRIS GROUP INC. COM 04269Q100 5.23 880 SH SOLE X ARROW ELECTRONICS INC. COM 042735100 9.12 340 SH SOLE X ASHLAND INC. COM 044204105 10.56 200 SH SOLE X ASIA TIGERS FUND INC. COM 04516T105 9.70 996 SH SOLE X ASSOCIATED BANC-CORP. COM 045487105 8.59 290 SH SOLE X ASTORIA FINANCIAL CORP. COM 046265104 7.32 200 SH SOLE X ATMEL CORP. COM 049513104 65.12 11,000 SH SOLE X AUTHENTIDATE HOLDING CORP. COM 052666104 32.82 3,000 SH SOLE X AUTOMA.DATA PROCES.INC. -SPLIT- COM 053015103 413.98 9,885 SH SOLE X AUTONATION INC. COM 05329W102 8.89 520 SH SOLE X AUTOZONE INC. COM 053332102 9.61 120 SH SOLE X AVALONBAY COMMUNITIES INC. COM 053484101 11.30 200 SH SOLE X AVANEX CORP COM 05348W109 38.90 10,000 SH SOLE X AVANT IMMUNOTHERAPEUTICS INC. COM 053491106 1.46 550 SH SOLE X AVAYA INC. COM 053499109 660.57 41,835 SH SOLE X AVERY DENNISON CORP. COM 053611109 16.64 260 SH SOLE X AVNET INC. COM 053807103 29.51 1,300 SH SOLE X AVON PRODUCTS INC. COM 054303102 5691.83 123,360 SH SOLE X

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- --------------- --------- -------- ---------------------- ------------ ---------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- --------------- --------- -------- --------- ----- ------ ------------ ---------- ------ -------- ------ AXA S.A.SP.ADR'S 1/2 SPONSORED ADR 054536107 73.15 3,304 SH SOLE X BB&T CORP. COM 054937107 42.63 1,153 SH SOLE X BASF AG (SP.ADR'S) SPONSORED ADR 055262505 28.00 520 SH SOLE X BISYS GROUP INC COM 055472104 53.43 3,800 SH SOLE X BJ SERVICES CO. COM 055482103 1418.75 30,950 SH SOLE X BP PLC -ADR'S- SPONSORED ADR 055622104 92.68 1,730 SH SOLE X BT GROUP PLC -SP.ADR'S10- ADR 05577E101 15.74 430 SH SOLE X BMC SOFTWARE INC. COM 055921100 7.22 390 SH SOLE X BAKER HUGHES INC. COM 057224107 8658.11 229,963 SH SOLE X BALDWIN TECHNOLOGY CO. INC. -A- CL A 058264102 1.79 500 SH SOLE X BALL CORP. COM 058498106 68.45 950 SH SOLE X BALLARD PWR SYS INC COM 05858H104 13.76 1,500 SH SOLE X BANCO BRADESCO S A SP ADR PFD NEW 059460303 3.91 85 SH SOLE X BCO.SANTAND.CENT.HISP. -ADR'S- ADR 05964H105 22.50 2,143 SH SOLE X BANCOLOMBIA S.A. ADR'S4PREF. SPON ADR PREF 05968L102 167.00 25,000 SH SOLE X BANK OF AMERICA CORP. COM 060505104 4479.02 52,931 SH SOLE X BK.OF NEW YORK CO.INC. COM 064057102 224.49 7,615 SH SOLE X BANK ONE CORP. COM 06423A103 123.37 2,419 SH SOLE X BANKNORTH INC. (NEW) COM 06646R107 12.99 400 SH SOLE X C.R.*BARD INC. COM 067383109 56.65 1,000 SH SOLE X BARRICK GOLD CORP COM 067901108 103.49 5,240 SH SOLE X BARR LABORATORIES INC. COM 068306109 699.28 20,750 SH SOLE X BAUSCH & LOMB INC. COM 071707103 5.86 90 SH SOLE X BAXTER INTERNATIONAL COM 071813109 605.72 17,552 SH SOLE X BEA SYSTEMS INC. COM 073325102 12.10 1,472 SH SOLE X BEAR STEARNS COS.INC. COM 073902108 18.46 219 SH SOLE X BEARINGPOINT INC. COM 074002106 83.82 9,450 SH SOLE X BECKMAN COULTER INC. COM 075811109 12.20 200 SH SOLE X BECTON,DICKINSON & CO. COM 075887109 1196.84 23,105 SH SOLE X BED BATH & BEYOND INC. COM 075896100 103.82 2,700 SH SOLE X BELLSOUTH CORP. COM 079860102 1887.58 71,990 SH SOLE X BEMA GOLD CORP COM 08135F107 9.52 3,500 SH SOLE X BEMIS INC. COM 081437105 8.48 300 SH SOLE X BERKLEY W.R. CORP. COM 084423102 8.59 200 SH SOLE X BERKSHIRE HATHAWAY INC. CL.A CL A 084670108 1423.20 16 SH SOLE X BERKSHIRE HATHAWAY INC. -B- CL B 084670207 2860.44 968 SH SOLE X BEST BUY CO.INC. COM 086516101 34.25 675 SH SOLE X BIOMET INC. COM 090613100 199.98 4,500 SH SOLE X BIOMARIN PHARMACEUTICAL INC. COM 09061G101 9.30 1,550 SH SOLE X BIOGEN IDEC COM 09062X103 429.78 6,795 SH SOLE X BIOTECH HOLDERS TRUST DEP. DEPOSTRY RCPTS 09067D201 73.23 500 SH SOLE X BIOLASE TECHNOLOGY INC. COM 090911108 40.38 3,000 SH SOLE X THE*BLACK & DECKER CORP. COM 091797100 12.43 200 SH SOLE X H.&R.*BLOCK INC. COM 093671105 174.99 3,670 SH SOLE X BLUEFLY INC. COM 096227103 2.15 1,000 SH SOLE X BOEING CO. COM 097023105 362.33 7,092 SH SOLE X BOISE CASCADE CORP COM 097383103 16399.75 435,700 SH SOLE X BOSTON PROPERTIES INC. COM 101121101 279.20 5,575 SH SOLE X BOSTON SCIENTIFIC CORP. COM 101137107 9566.27 223,511 SH SOLE X BOWATER INC. COM 102183100 20.30 488 SH SOLE X BRASIL TELECOM PARTICIP. SP.ADR SPONS ADR PFD 105530109 33.49 1,091 SH SOLE X THE BRAZIL FUND INC. COM 105759104 21.51 1,000 SH SOLE X

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- --------------- --------- -------- ---------------------- ------------ ---------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- --------------- --------- -------- --------- ----- ------ ------------ ---------- ------ -------- ------ BRAZILIAN EQUITY FUND INC. COM 105884100 36.75 6,645 SH SOLE X BRINKER INTERNAT.INC. COM 109641100 94.51 2,770 SH SOLE X BRISTOL-MYERS SQUIBB CO. COM 110122108 1207.19 49,273 SH SOLE X BROADCOM CORP.-A- CL A 111320107 85.28 1,830 SH SOLE X BROADVISION INC. COM NEW 111412607 0.27 65 SH SOLE X BROCADE COMMUNICAT. SYSTEMS INC COM 111621108 2.87 480 SH SOLE X BROWN-FORMAN CORP.CL. -B-SPLIT CL B 115637209 5.79 120 SH SOLE X BUFFALO WILD WINGS INC COM 119848109 27.65 1,000 SH SOLE X BURLINGTON NORTH.SANTA FE COM 12189T104 26.30 750 SH SOLE X BURLINGTON RESOURCES INC. COM 122014103 199.71 5,520 SH SOLE X CDW CORP. COM 12512N105 32.52 510 SH SOLE X C.H.ROBINSON WORLDWIDE INC. COM 12541W100 9.17 200 SH SOLE X CIGNA CORP. COM 125509109 35.23 512 SH SOLE X CIT GROUP INC. NEW COM 125581108 28594.36 746,784 SH SOLE X CMGI INC. COM 125750109 23.64 12,125 SH SOLE X CSK AUTO CORP. -REG.- COM 125965103 52.40 3,057 SH SOLE X CNET NETWORKS INC COM 12613R104 22.14 2,000 SH SOLE X CSX CORP. COM 126408103 19.66 600 SH SOLE X C.T.S.CORP. COM 126501105 8.02 665 SH SOLE X CVS CORP. COM 126650100 1630.80 38,810 SH SOLE X CABLEVISION SYS.CORP.OF NY GRP CL A NY CABLVS 12686C109 70.35 3,580 SH SOLE X CABOT CORP. COM 127055101 8.95 220 SH SOLE X CABOT MICROELECTRONICS CORP COM 12709P103 6.12 200 SH SOLE X CADENCE DESIGN SYSTEM INC. COM 127387108 85.91 5,872 SH SOLE X CALPINE CORP. COM 131347106 86.40 20,001 SH SOLE X CAMBIOR INC COM 13201L103 26.50 10,000 SH SOLE X CAMPBELL SOUP CO. COM 134429109 338.69 12,600 SH SOLE X CAPITAL ONE FINANC. -SPLIT- COM 14040H105 39.66 580 SH SOLE X CAPITALSOURCE INC COM 14055X102 20.78 850 SH SOLE X CAPSTONE TURBINE CORP. COM 14067D102 3.70 1,714 SH SOLE X CARDINAL HEALTH INC. COM 14149Y108 731.39 10,441 SH SOLE X CAREER EDUCATION CORP. COM 141665109 8923.38 195,860 SH SOLE X CAREMARK RX INC. COM 141705103 66.47 2,018 SH SOLE X CARTER COM 146229109 29.11 1,000 SH SOLE X CASTLE ENERGY CORP. PAR$0.50N 148449309 336.07 26,800 SH SOLE X CATERPILLAR INC. COM 149123101 977.11 12,300 SH SOLE X CELSION CORP. COM 15117N107 12.60 20,000 SH SOLE X CEMEX S.A.(SPONS.ADR'S)5 SPON ADR 5 ORD 151290889 261.90 9,000 SH SOLE X CENDANT CORP. COM 151313103 28605.88 1,168,541 SH SOLE X CENTERPOINT ENERGY INC. COM 15189T107 10.24 890 SH SOLE X CENTURYTEL INC. COM 156700106 9.01 300 SH SOLE X CEPHALON INC. COM 156708109 10.80 200 SH SOLE X CEPHED COM 15670R107 5.77 500 SH SOLE X CERIDIAN CORP. COM 156779100 10.80 480 SH SOLE X CERTEGY INC. COM 156880106 7.37 190 SH SOLE X CHARTER ONE FINANCIAL INC. COM 160903100 22.10 500 SH SOLE X CHARTER COMM. INC.CL.A CL A 16117M107 25.42 6,500 SH SOLE X CHEESECAKE FACTORY INC. COM 163072101 46.16 1,160 SH SOLE X CHESAPEAKE ENERGY CORP COM 165167107 568.93 38,650 SH SOLE X CHEVRONTEXACO CORP. COM 166764100 2319.81 24,650 SH SOLE X THE*CHILE FUND INC. COM 168834109 15.54 1,284 SH SOLE X THE*CHINA FUND INC. COM 169373107 857.38 29,770 SH SOLE X

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- --------------- --------- --------- ---------------------- ------------ ---------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- --------------- --------- --------- --------- ----- ------ ------------ ---------- ------ -------- ------ CHINA LIFE INS CO LTD SPON ADR REP H 16939P106 94.76 4,000 SH SOLE X CHINA MOBILE (HK) ADR'S SPONSORED ADR 16941M109 15.16 1,000 SH SOLE X CHINA PETRO.+CHEM. (SP.ADRS)-H- SPON ADR H SHS 16941R108 11.09 300 SH SOLE X CHINA TEL.CORP.LTD. (ADRS) S.H SPON ADR H SHS 169426103 40.58 1,150 SH SOLE X CHINA UNICOM LTD. (SP.ADR'S)-H- SPONSORED ADR 16945R104 31.60 4,000 SH SOLE X CHIRON CORP. COM 170040109 29.02 650 SH SOLE X CHOICEPOINT INC. COM 170388102 9.13 200 SH SOLE X THE*CHUBB CORP. COM 171232101 27.95 410 SH SOLE X CIENA CORP. COM 171779101 171.53 46,360 SH SOLE X CINCINNATI FINANCIAL CORP. COM 172062101 15.49 356 SH SOLE X CINERGY CORP. COM 172474108 54.72 1,440 SH SOLE X CISCO SYSTEM INC. COM 17275R102 60874.52 2,568,545 SH SOLE X CINTAS CORP. COM 172908105 93.43 1,960 SH SOLE X CITIGROUP INC. COM 172967101 103489.38 2,225,578 SH SOLE X CITIZENS COMMUNICATIONS CO.-B- COM 17453B101 108.39 8,958 SH SOLE X CITRIX SYSTEMS INC. COM 177376100 358.54 17,610 SH SOLE X CITY NATIONAL CORP. COM 178566105 93.29 1,420 SH SOLE X CLEAR CHANNEL COMMUN.INC. COM 184502102 8275.51 223,965 SH SOLE X THE*CLOROX CO. COM 189054109 162.74 3,026 SH SOLE X COACH INC. COM 189754104 1690.78 37,415 SH SOLE X THE*COCA COLA CO. COM 191216100 3209.87 63,587 SH SOLE X COCA-COLA ENTERPR.INC. COM 191219104 13145.23 453,440 SH SOLE X COCA-COLA FEMSA S.A. DE-ADR'S- SPON ADR REP L 191241108 22.19 1,000 SH SOLE X COEUR D'ALENE MINES CORP. COM 192108108 10.20 2,500 SH SOLE X COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 10.16 400 SH SOLE X COLGATE-PALMOLIVE CO. COM 194162103 11724.72 200,594 SH SOLE X COLUMBIA SPORTSWEAR COMPANY COM 198516106 174.78 3,200 SH SOLE X COMCAST CORP.NEW CL.A CL A 20030N101 6734.53 239,663 SH SOLE X COMCAST CORP. NEW CL.A (SPEZ) CL A SPL 20030N200 345.95 12,530 SH SOLE X COMERCIA INC. COM 200340107 18.11 330 SH SOLE X COMMERCE BANCORP. INC. (N.J.) COM 200519106 11.00 200 SH SOLE X COMMERCE BANCSHARES INC. COM 200525103 9.19 200 SH SOLE X COMMERCE ONE INC. DEL. COM NEW 200693208 2.48 2,615 SH SOLE X COMMUNITY HEALTH SYS INC NEW COM 203668108 8.03 300 SH SOLE X CEMIG NON VOT.PR.STOCK ADR'S SP ADR N-V PFD 204409601 2.28 152 SH SOLE X CIA SIDERURGICA NAC.SP. ADR'S SPONSORED ADR 20440W105 8.76 720 SH SOLE X COMPANHIA VALE DO RIO DOCE SPONSORED ADR 204412209 4642.07 97,625 SH SOLE X CIA.PARANAENSE ENER. /B/PR.ADRS SPON ADR PFD 20441B407 512.57 158,200 SH SOLE X AMBEV-CIA DE BEB.-SP. ADR'S- SPON ADR PFD 20441W203 471.04 23,470 SH SOLE X CIA AN.NAC.TEL.DE VENEZ. ADR'S SPON ADR D 204421101 109.33 5,426 SH SOLE X COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104 21.44 970 SH SOLE X CIA.TELEC.CHILE-A- ADR'S SPON ADR NEW 204449300 10.36 850 SH SOLE X COMPASS BANCSHARES INC. COM 20449H109 12.90 300 SH SOLE X COMPUTER ASSOC.INTERNAT. INC. COM 204912109 2021.72 72,050 SH SOLE X COMPUTER SCIENCES CORP. COM 205363104 465.23 10,020 SH SOLE X COMPUWARE CORP. COM 205638109 6.60 1,000 SH SOLE X COMVERSE TECHNOLOGY INC. COM PAR $0.10 205862402 69.79 3,500 SH SOLE X CONAGRA FOODS INC. COM 205887102 37.91 1,400 SH SOLE X COMPUTER HORIZONS CORP. COM 205908106 2.39 600 SH SOLE X CONEXANT SYSTEMS INC. COM 207142100 2.17 500 SH SOLE X CONOCOPHILLIPS COM 20825C104 2393.68 31,376 SH SOLE X CONSOLIDATED EDISON INC. COM 209115104 17.49 440 SH SOLE X

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- --------------- --------- -------- ---------------------- ------------ ---------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- --------------- --------- -------- --------- ----- ------ ------------ ---------- ------ -------- ------ CONSTELLATION BRANDS -A- CL A 21036P108 154.83 4,170 SH SOLE X CONSTELLATION ENERGY GROUP COM 210371100 12.89 340 SH SOLE X CONVERGYS CORP. COM 212485106 6.16 400 SH SOLE X COOPER CAMERON CORP. COM 216640102 9.74 200 SH SOLE X CORNING INC. COM 219350105 26013.20 1,991,822 SH SOLE X COSTCO WHOLESALE CORP. COM 22160K105 234.31 5,690 SH SOLE X COUNTRYWIDE FINANCIAL CORP. COM 222372104 42.78 609 SH SOLE X COVANCE INC COM 222816100 19.29 500 SH SOLE X COX COMMUNICATIONS INC. CL.-A- CL A 224044107 115.88 4,170 SH SOLE X CRANE CO. COM 224399105 2895.57 92,245 SH SOLE X CRISTALERIAS DE CHILE S A SPONSORED ADR 226714103 13.10 540 SH SOLE X CROWN HOLDINGS INC. COM 228368106 210.37 21,100 SH SOLE X CUMMINS INC. COM 231021106 75.00 1,200 SH SOLE X D.R.HORTON INC. COM 23331A109 12.78 450 SH SOLE X DST SYSTEMS INC. COM 233326107 10.58 220 SH SOLE X DTE ENERGY CO. COM 233331107 12.57 310 SH SOLE X DANA CORP. COM 235811106 19.60 1,000 SH SOLE X DANAHER CORP. COM 235851102 3493.34 67,374 SH SOLE X DARDEN RESTAURANTS INC. COM 237194105 44.29 2,155 SH SOLE X DEAN FOODS CO. COM 242370104 7891.07 211,500 SH SOLE X DEERE & CO. COM 244199105 561.82 8,010 SH SOLE X DEL MONTE FOODS CO. COM 24522P103 5.70 561 SH SOLE X DELL COM 24702R101 15684.32 437,865 SH SOLE X DELPHI CORP. COM 247126105 54.75 5,126 SH SOLE X DELTA AIR LINES INC. COM 247361108 5.27 740 SH SOLE X DELTATHREE INC COM 24783N102 4.30 2,000 SH SOLE X DELUXE CORP COM 248019101 8.70 200 SH SOLE X DENTSPLY INTERN.INC. COM 249030107 10.42 200 SH SOLE X DEUTSCHE TELEKOM AG -ADR'S- SPONSORED ADR 251566105 100.22 5,659 SH SOLE X DEVON ENERGY CORP. COM 25179M103 273.24 4,140 SH SOLE X DIAGNOSTIC PRODS CORP COM 252450101 57.12 1,300 SH SOLE X DIAMOND OFFSHORE DRILL. COM 25271C102 7.15 300 SH SOLE X DIAMONDS TRUST-UNIT SR.1 UNIT SER 1 252787106 1285.48 12,286 SH SOLE X DIEBOLD INC. COM 253651103 10.57 200 SH SOLE X DIGITAL RIVER INC. COM 25388B104 81.58 2,500 SH SOLE X DIRECTV GROUP INC COM 25459L106 179.48 10,496 SH SOLE X THE*WALT DISNEY CO. COM 254687106 4042.59 158,595 SH SOLE X DISTRIBUTED ENERGY SYS CORP COM 25475V104 1.63 600 SH SOLE X DR REDDYS LABS (SP.ADR'S) ADR 256135203 48.66 2,800 SH SOLE X DOCUMENT SEC SYS INC COM 25614T101 0.19 20 SH SOLE X DOLLAR GENERAL CORP. COM 256669102 201.21 10,287 SH SOLE X DOLLAR TREE STORES INC. COM 256747106 1176.75 42,900 SH SOLE X DOMINION RESOURCES INC. (NEW) COM 25746U109 4113.26 65,207 SH SOLE X R.R.DONNELLEY & SONS CO. COM 257867101 19.81 600 SH SOLE X DOUBLECLICK INC. COM 258609304 1.17 150 SH SOLE X DOVER CORP. COM 260003108 786.55 18,683 SH SOLE X THE*DOW CHEMICAL CO. COM 260543103 31945.51 784,902 SH SOLE X DOW JONES & CO. INC. COM 260561105 2855.28 63,310 SH SOLE X E.I.*DU PONT DE NEMOURS COM 263534109 10471.08 235,729 SH SOLE X DUKE ENERGY CORP. COM 264399106 860.95 42,432 SH SOLE X DUKE REALTY CORP. COM NEW 264411505 41.35 1,300 SH SOLE X DUN & BRADSTREET CORP. (DEL.) COM 26483E100 8.09 150 SH SOLE X

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- --------------- --------- -------- ---------------------- ------------ ---------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- --------------- --------- -------- --------- ----- ------ ------------ ---------- ------ -------- ------ DURBAN ROODEPOORT DEEP ADR'S SPONSORED ADR 266597301 349.11 138,537 SH SOLE X DUSA PHARMACEUTICALS INC. COM 266898105 4.75 500 SH SOLE X DYNEGY INC. -A- CL A 26816Q101 4.26 1,000 SH SOLE X EMC CORP.(MASS.) COM 268648102 1142.99 100,262 SH SOLE X ENSCO INTERNATIONAL INC. COM 26874Q100 11.64 400 SH SOLE X EOG RESOURCES INC. COM 26875P101 18.51 310 SH SOLE X VEBA AG SPONS ADR'S SPONSORED ADR 268780103 79.74 1,100 SH SOLE X E TRADE GROUP INC. COM 269246104 25.09 2,250 SH SOLE X EAGLE MATERIALS INC COM 26969P108 0.57 8 SH SOLE X EARTHLINK INC COM 270321102 10.35 1,000 SH SOLE X EASTMAN CHEMICAL CO. COM 277432100 11.56 250 SH SOLE X EASTMAN KODAK CO. COM 277461109 212.60 7,880 SH SOLE X EATON CORP. COM 278058102 25.90 400 SH SOLE X EBAY INC. COM 278642103 187.21 2,036 SH SOLE X ECHOSTAR COMMUN.CORP -A- CL A 278762109 280.13 9,110 SH SOLE X ECOLAB INC. COM 278865100 17.75 560 SH SOLE X EDISON INTERNATIONAL COM 281020107 52.93 2,070 SH SOLE X A.G.*EDWARDS INC. COM 281760108 6.81 200 SH SOLE X EDWARDS LIFESCIENCES CORP COM 28176E108 13.94 400 SH SOLE X 8 X 8 INC. COM 282914100 2.70 1,200 SH SOLE X EL PASO CORP. COM 28336L109 13.38 1,698 SH SOLE X ELAN CORP.PLC ADR'S ADR 284131208 21.03 850 SH SOLE X ELECTROGLAS INC COM 285324109 24.29 4,541 SH SOLE X ELECTRONIC ARTS INC. COM 285512109 5024.76 92,113 SH SOLE X ELECTRONIC DATA SYSTEMS CORP. COM 285661104 337.48 17,623 SH SOLE X EMAGIN CORP. COM 29076N107 45.32 26,974 SH SOLE X EM.EM.BRAS.D.AERON. (SP.ADRS) SP ADR PFD SHS 29081M102 85.77 3,000 SH SOLE X EMBRATEL PARICIP.PFD (ADR'S) SP ADR PFD NEW 29081N209 96.24 6,959 SH SOLE X EMERGE INTERACTIVE INC. CL.A CL A 29088W103 0.40 210 SH SOLE X EMERSON ELECTRIC CO. COM 291011104 487.43 7,670 SH SOLE X EMPRESAS SOC.CONTROL. -ADR'S- SPONSORED ADR 292448107 358.80 195,000 SH SOLE X EMPRESA NACIONAL DE ELCTRCID SPONSORED ADR 29244T101 5.08 410 SH SOLE X EMULEX CORP. COM NEW 292475209 7.44 520 SH SOLE X ENERGY EAST CORP. COM 29266M109 9.70 400 SH SOLE X ENERGIZER HOLDINGS INC. COM 29266R108 4.50 100 SH SOLE X ENERSIS S.A.(SPONS. ADR'S)50 SPONSORED ADR 29274F104 2.70 453 SH SOLE X ENGELHARD CORP. COM 292845104 37.80 1,170 SH SOLE X ENTERASYS NETWORKS INC. COM 293637104 6.75 3,200 SH SOLE X ENTERGY CORP. COM 29364G103 69.45 1,240 SH SOLE X ENZON PHARMACEUTICALS INC. COM 293904108 127.60 10,000 SH SOLE X EQUIFAX INC. COM 294429105 9.41 380 SH SOLE X EQUITABLE RESOURCES INC. COM 294549100 10.34 200 SH SOLE X EQUITY OFFICE PROPERTIES TRUST COM 294741103 990.35 36,410 SH SOLE X EQTY 5.25%CCPSBI-B PFD CV B 5.25% 294741509 7.28 145 SH SOLE X EQUITY RESIDENTIAL -BENEF. INT- SH BEN INT 29476L107 17.84 600 SH SOLE X ERICSSON -B- ADR'S ADR B SEK 10 294821608 155.36 5,196 SH SOLE X ERIE INDEMNITY-A CL A 29530P102 90.52 1,935 SH SOLE X THE EUROPE FUND INC. COM 29874M103 12.21 1,174 SH SOLE X EXELON CORP. COM 30161N101 89.62 2,692 SH SOLE X EXPEDITORS INT.OF WASH. COM 302130109 3522.93 71,300 SH SOLE X EXPRESS SCRIPTS -A- COM 302182100 93.10 1,175 SH SOLE X EXXON MOBIL CORP. COM 30231G102 90742.06 2,043,280 SH SOLE X

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- --------------- --------- --------- ---------------------- ------------ ---------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- --------------- --------- --------- --------- ----- ------ ------------ ---------- ------ -------- ------ FPL GROUP INC. COM 302571104 60.75 950 SH SOLE X FAIR,ISAAC & CO. INC. COM 303250104 5.67 170 SH SOLE X FAMILY DOLLAR STORES INC. COM 307000109 178.44 5,866 SH SOLE X FASTENAL CO. COM 311900104 11.37 200 SH SOLE X FED.HOME LOAN MTG. COM 313400301 1089.39 17,210 SH SOLE X FANNIE MAE COM 313586109 4129.60 57,870 SH SOLE X FEDERATED DEPARTMENT STORES COM 31410H101 19.15 390 SH SOLE X FEDERATED INVESTORS INC. (PA.) CL B 314211103 6.07 200 SH SOLE X FEDEX CORP. COM 31428X106 329.21 4,030 SH SOLE X F5 NETWORKS INC. COM 315616102 27.80 1,050 SH SOLE X FIDELITY NATIONAL FINANCL.INC. COM 316326107 13.07 350 SH SOLE X FIFTH THIRD BANCORP COM 316773100 6229.01 115,824 SH SOLE X FIRST DATA CORP. COM 319963104 475.43 10,679 SH SOLE X FIRST HORIZON NATL CORP COM 320517105 846.01 18,606 SH SOLE X FIRST HEALTH GROUP.CORP. COM 320960107 84.29 5,400 SH SOLE X FISERV INC. COM 337738108 19.45 500 SH SOLE X FIRSTENERGY CORP. COM 337932107 26.15 699 SH SOLE X FISHER SCIENTIFIC INTL INC. COM NEW 338032204 37.54 650 SH SOLE X FLEETWOOD ENTERPRISES INC COM 339099103 14.55 1,000 SH SOLE X FLUOR CORP.(NEW) COM 343412102 2569.89 53,910 SH SOLE X FOMENTO ECONOMICO MEX.SP ADR'S SPON ADR UNITS 344419106 366.72 8,000 SH SOLE X FORD MOTOR CO. COM PAR $0.01 345370860 525.06 33,550 SH SOLE X FORD MOTOR C.C.TR.II 6,5% PFD PFD TR CV6.5% 345395206 52.02 950 SH SOLE X FOREST LABORATORIES INC. COM 345838106 104.20 1,840 SH SOLE X FORTUNE BRANDS INC. COM 349631101 565.73 7,500 SH SOLE X FOUNDRY NETWORKS INC COM 35063R100 42.21 3,000 SH SOLE X FOX ENTERTAIN GROUP INC. -A- CL A 35138T107 13.08 490 SH SOLE X FRANKLIN RESOURCES INC. COM 354613101 481.77 9,620 SH SOLE X FREEMARKETS INC. COM 356602102 0.65 100 SH SOLE X FREEPORT-MCMORAN COPPER & GOLD CL B 35671D857 9.95 300 SH SOLE X FURNITURE BRANDS INTL INC COM 360921100 50.10 2,000 SH SOLE X GSI COMMERCE INC. COM 36238G102 0.65 67 SH SOLE X GALLAGHER & CO.,ARTHUR J. COM 363576109 6.09 200 SH SOLE X GANDER MOUNTAIN CO COM 36471P108 160.51 7,000 SH SOLE X GANNETT CO.INC. COM 364730101 1122.31 13,227 SH SOLE X GAP INC. COM 364760108 34.56 1,425 SH SOLE X GEMSTAR-TV GUIDE INTL. INC. COM 36866W106 5.75 1,198 SH SOLE X GENAISSANCE PHARMACEUTIC. INC. COM 36867W105 27.36 6,531 SH SOLE X GENENTECH INC. COM NEW 368710406 994.85 17,702 SH SOLE X GENERAL DYNAMICS CORP. COM 369550108 1741.23 17,535 SH SOLE X GENERAL ELECTRIC CO. COM 369604103 126320.34 3,898,776 SH SOLE X GENERAL GROWTH PROPERTIES INC. COM 370021107 14.79 500 SH SOLE X GENERAL MILLS INC. COM 370334104 38.97 820 SH SOLE X GENERAL MOTORS CORP. COM 370442105 1754.91 37,667 SH SOLE X GENL.MOT.4 1/2% PFD-A- DEB SR CONV A 370442741 10.48 410 PRN SOLE X GENTEX CORP. COM 371901109 3.97 100 SH SOLE X GENUINE PARTS CO. COM 372460105 11.90 300 SH SOLE X GENUS INC. COM 372461103 5.13 1,500 SH SOLE X GENWORTH FINL INC CL A 37247D106 2267.46 98,800 SH SOLE X GENZYME CORP.GEN DIV. COM GENL DIV 372917104 41.18 870 SH SOLE X GEORGIA-PACIFIC CORP. COM 373298108 462.32 12,502 SH SOLE X GERDAU S A SPONSORED ADR 373737105 36.36 3,000 SH SOLE X

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- --------------- --------- -------- ---------------------- ------------ ---------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- --------------- --------- -------- --------- ----- ------ ------------ ---------- ------ -------- ------ GETTY IMAGES INC. COM 374276103 240.00 4,000 SH SOLE X GILEAD SCIENCES INC. COM 375558103 325.62 4,860 SH SOLE X THE*GILLETTE CO. COM 375766102 1823.84 43,015 SH SOLE X GLAMIS GOLD LTD COM 376775102 34.43 1,964 SH SOLE X GLAXOSMITHKLINE PLC (SP.ADR'S) SPONSORED ADR 37733W105 4769.35 115,035 SH SOLE X GOLD FIELDS LTD. (SP.ADR'S) SPONSORED ADR 38059T106 34.68 3,300 SH SOLE X GOLDCORP INC NEW COM 380956409 21.60 1,851 SH SOLE X GOLDEN WEST FINANCIAL COM 381317106 37.22 350 SH SOLE X GOLDMAN SACHS GROUP INC. COM 38141G104 23414.01 248,662 SH SOLE X GOODRICH CORP. COM 382388106 8.08 250 SH SOLE X GOODYEAR TIRE & RUBBER COM 382550101 45.45 5,000 SH SOLE X W.W.GRAINGER INC. COM 384802104 13.23 230 SH SOLE X GREENPOINT FIN.CORP. COM 395384100 15.48 390 SH SOLE X GRP. FIN.GALICIA -B- SP.ADRS SP ADR 10 SH B 399909100 428.83 81,217 SH SOLE X GRUMA SA DE C.V.-B- -ADR'S-4 SPON ADR CL B 400131306 0.56 84 SH SOLE X GTECH HOLDINGS CORP. COM 400518106 301.02 13,000 SH SOLE X GUIDANT CORP. COM 401698105 463.25 8,290 SH SOLE X HCA INC. COM 404119109 1853.54 44,567 SH SOLE X HSBC HOLDINGS PLC SPONS. ADR'S SPON ADR NEW 404280406 33.93 453 SH SOLE X HALLIBURTON CO. COM 406216101 9466.84 312,850 SH SOLE X HARLEY-DAVIDSON INC. COM 412822108 945.02 15,257 SH SOLE X HARMAN INTERN,INDUSTRIES COM 413086109 596.05 6,550 SH SOLE X HARMONY GOLD MINING ADR'S SPONSORED ADR 413216300 25.31 2,390 SH SOLE X HARRAHS ENTERTAINMENT INC. COM 413619107 9.20 170 SH SOLE X HARRIS CORP. COM 413875105 11.67 230 SH SOLE X HARTFORD FIN.SERV.GROUP COM 416515104 29238.01 425,342 SH SOLE X HASBRO INC. COM 418056107 9.69 510 SH SOLE X HEALTH CARE PROPERTY INV. INC. COM 421915109 3627.64 150,900 SH SOLE X HEALTH MANAGEMENT ASSOC. -A- CL A 421933102 73.99 3,300 SH SOLE X HEADWATERS INC COM 42210P102 77.79 3,000 SH SOLE X HEALTH NET INC. COM 42222G108 10.60 400 SH SOLE X HEARTLAND EXPRESS INC. COM 422347104 87.55 3,200 SH SOLE X HECLA MINING CO. COM 422704106 6.27 1,100 SH SOLE X H-J.*HEINZ CO. COM 423074103 37.63 960 SH SOLE X HERSHEY FOODS CORP. COM 427866108 18.51 400 SH SOLE X HEWLETT - PACKARD CO. COM 428236103 26703.36 1,265,562 SH SOLE X HIBERNIA CORP. -A- CL A 428656102 9.72 400 SH SOLE X HILLENBRAND INDUSTRIES INC. COM 431573104 12.69 210 SH SOLE X HILTON HOTELS CORP. COM 432848109 27.24 1,460 SH SOLE X HITACHI LIMITED ADR 10 COM 433578507 17.40 250 SH SOLE X HOLLYWOOD MEDIA CORP. COM 436233100 0.18 50 SH SOLE X THE*HOME DEPOT INC. COM 437076102 23736.63 674,336 SH SOLE X HONDA MOTOR SHS.2 (ADR'S) AMERN SHS 438128308 311.30 12,800 SH SOLE X HONEYWELL INTERNATIONAL INC. COM 438516106 37100.66 1,012,849 SH SOLE X HORMEL FOODS CORP. COM 440452100 9.33 300 SH SOLE X HOSPIRA INC COM 441060100 59.26 2,147 SH SOLE X HOST MARRIOTT CORP. COM 44107P104 12.36 1,000 SH SOLE X HUANENG POW.INT.-N-SPON. ADRS40 SPON ADR N 443304100 90.50 2,500 SH SOLE X HUDSON CITY BANCORP COM 443683107 3.34 100 SH SOLE X HUDSON HIGHLAND GROUP INC. COM 443792106 6.65 217 SH SOLE X HUNTINGTON BANCSHARES INC. COM 446150104 15.28 665 SH SOLE X IMS HEALTH INC. COM 449934108 16.41 700 SH SOLE X

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- --------------- --------- -------- ---------------------- ------------ ---------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- --------------- --------- -------- --------- ----- ------ ------------ ---------- ------ -------- ------ ITT INDUSTRIES INC. COM 450911102 153.55 1,850 SH SOLE X ICICI BK LTD ADR 45104G104 5374.82 444,200 SH SOLE X IGATE CORP COM 45169U105 7.96 2,000 SH SOLE X ILLINOIS TOOL WORKS INC. COM 452308109 6552.07 68,329 SH SOLE X IMPERAL CHEM.IND. SHAR.4 ADR'S ADR NEW 452704505 74.58 4,400 SH SOLE X THE*INDIA FUND INC. COM 454089103 1410.48 65,665 SH SOLE X INFOSYS TECH.SP.ADR'S SPONSORED ADR 456788108 23.30 500 SH SOLE X INFOSPACE INC. COM NEW 45678T201 7.61 200 SH SOLE X ING GROEP N.V. ADR'S SPONSORED ADR 456837103 88.88 3,750 SH SOLE X INTEL CORP. COM 458140100 64076.38 2,321,608 SH SOLE X INTERACTIVECORP. COM 45840Q101 27.13 900 SH SOLE X IBM CORP. COM 459200101 37920.98 430,187 SH SOLE X INTERNAT.FLAVORS & FRAG. COM 459506101 7.48 200 SH SOLE X INTERNATIONAL GAME TECHNOLOGY COM 459902102 11857.53 307,190 SH SOLE X INTERNATIONAL PAPER CO. COM 460146103 8350.23 186,806 SH SOLE X INTERNET CAP GROUP INC COM NEW 46059C205 73.03 9,485 SH SOLE X INTERPUBLIC GR.OF COMP. INC. COM 460690100 225.73 16,441 SH SOLE X INTERSTATE HOTELS & RESORTS COM 46088S106 470.83 87,353 SH SOLE X INTUIT COM 461202103 335.26 8,690 SH SOLE X ISHS MSCI AUS INDX MSCI AUSTRALIA 464286103 67.10 5,000 SH SOLE X ISHS MSCI BRA INDX MSCI BRAZIL 464286400 1025.65 69,725 SH SOLE X ISHS MSCI EMU INDX MSCI EMU INDEX 464286608 524.67 8,368 SH SOLE X ISHARES INC.-MSCI PAC. -REG.- MSCI PAC J IDX 464286665 150.45 2,055 SH SOLE X ISHARES INC.-SING.FREE IDX SER MSCI SINGAPORE 464286673 93.90 15,000 SH SOLE X ISHARES INC.-UK INDEX SERIES MSCI UTD KINGD 464286699 758.69 46,978 SH SOLE X ISHARES INC.-TAIWAN WEBS INDEX MSCI TAIWAN 464286731 2836.35 262,140 SH SOLE X ISHARES INC.-KOREA WEBS INDEX MSCI S KOREA 464286772 1491.43 61,275 SH SOLE X ISHARES INC MSCI STH AFRCA 464286780 693.48 12,000 SH SOLE X ISHARES INC.-GERMANY WEBS I.S. MSCI GERMAN 464286806 89.03 5,513 SH SOLE X ISHS MSCI MEX INDX MSCI MEXICO 464286822 682.15 35,000 SH SOLE X ISHARES INC.-MSCI MAL.FR. MSCI MALAYSIA 464286830 1461.25 226,550 SH SOLE X ISHARES INC.-JAPAN WEBS I.S. MSCI JAPAN 464286848 3674.21 345,971 SH SOLE X ISHARES INC.-HONGKONG WEBS I.S MSCI HONG KONG 464286871 743.54 73,400 SH SOLE X ISHARES TR DJ SEL DIV INX 464287168 111.30 2,000 SH SOLE X ISHARES TR US TIPS BD FD 464287176 8.66 85 SH SOLE X ISHARES TRUST - SHS OF S&P500 S&P 500 INDEX 464287200 1814.22 15,835 SH SOLE X ISHS MSCI EMG INDX MSCI EMRG MKT 464287234 59.16 366 SH SOLE X ISHS S&P GLBL TELE S&P GBL TELCM 464287275 40.28 900 SH SOLE X ISHARE TR. S&P500/B. VAL. INDEX S&P500/BAR VAL 464287408 286.40 5,000 SH SOLE X ISHS LEHMN 7-10Y TR 7-10 YR TRS BD 464287440 88.70 1,068 SH SOLE X ISHARES TR.-MSCI EAFE INDEX FD MSCI EAFE IDX 464287465 44.19 309 SH SOLE X ISHARES TR.-GLDM.S.SEMIC. I.FD GLDM SCHS SEMI 464287523 35.55 600 SH SOLE X ISHS GS NETWK FD GLDM SCHS NETW 464287531 25.34 800 SH SOLE X ISHARES TR.-RUSSEL 2000 IND.- RUSSELL 2000 464287655 720.92 6,110 SH SOLE X ISHARES TR RUSL 3000 GROW 464287671 50.53 1,300 SH SOLE X ISHARES TR DJ US TECH SEC 464287721 24.10 500 SH SOLE X ISHS DJ US FIN FD DJ US FINL SVC 464287770 43.85 425 SH SOLE X ISHARES TR DJ CON NON CYCL 464287812 34.67 661 SH SOLE X ISHARES TR DJ US BAS MATL 464287838 6.55 145 SH SOLE X ISHS DJ US MKT FD DJ US TOTL MKT 464287846 20.11 370 SH SOLE X ISHARES TRUST, SHS.S&P EUR.350 S&P EURO PLUS 464287861 1707.24 25,665 SH SOLE X IVANHOE MINES LTD COM 46579N103 5.45 1,000 SH SOLE X

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- --------------- --------- -------- ---------------------- ------------ ---------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- --------------- --------- -------- --------- ----- ------ ------------ ---------- ------ -------- ------ IVAX CORP. COM 465823102 53.98 2,250 SH SOLE X IVILLAGE INC. COM 46588H105 24.64 3,881 SH SOLE X JDS UNIPHASE CORP. COM 46612J101 542.73 143,200 SH SOLE X JP MORGAN CHASE & CO. COM 46625H100 6220.84 160,455 SH SOLE X J2 GLOBAL COMMUNICATIONS INC. COM NEW 46626E205 2.78 100 SH SOLE X JABIL CIROUIT INC. COM 466313103 81.08 3,220 SH SOLE X JACOBS ENGR GROUP INC DEL COM 469814107 7.88 200 SH SOLE X JACUZZI BRANDS INC. COM 469865109 39.45 4,895 SH SOLE X JANUS CAPITAL GROUP INC. COM 47102X105 9.89 600 SH SOLE X JEFFERSON-PILOT CORP. COM 475070108 12.70 250 SH SOLE X JOHNSON & JOHNSON COM 478160104 29834.70 535,632 SH SOLE X JOHNSON CONTROLS INC. COM 478366107 23.49 440 SH SOLE X JONES APPAREL GROUP INC. COM 480074103 11.84 300 SH SOLE X JUNIPER NETWORKS INC COM 48203R104 721.94 29,383 SH SOLE X KLA-TENCOR CORP. COM 482480100 225.67 4,570 SH SOLE X KT-CORP. -SPONS.ADRS- 1/2 SPONSORED ADR 48268K101 18.04 1,000 SH SOLE X KANA SOFTWARE INC. COM NEW 483600300 1.19 500 SH SOLE X KAYDON CORP. COM 486587108 24.74 800 SH SOLE X KELLOGG CO. COM 487836108 219.29 5,240 SH SOLE X KERR-MCGEE CORP. COM 492386107 31.72 590 SH SOLE X KEYCORP.-NEW- COM 493267108 26.00 870 SH SOLE X KEYSPAN CORP. COM 49337W100 12.11 330 SH SOLE X KIMBERLY-CLARK CORP. COM 494368103 159.69 2,424 SH SOLE X KIMCO REALTY CO. SHARES COM 49446R109 13.20 290 SH SOLE X KINDER MORGAN INC. COM 49455P101 35.57 600 SH SOLE X KINETIC CONCEPTS INC COM NEW 49460W208 49.90 1,000 SH SOLE X KING PHARMACEUTICALS COM 495582108 54.96 4,800 SH SOLE X KINROSS GOLD CORP COM NEW 496902206 3.71 667 SH SOLE X KMART HLDG-WI COM 498780105 382.91 5,333 SH SOLE X KNIGHT-RIDDER INC. COM 499040103 4150.80 57,650 SH SOLE X KOHL'S CORP. COM 500255104 85.62 2,025 SH SOLE X PHILIPS ELECTR.NV -SP.ADR'S- NY REG SH NEW 500472303 142.96 5,256 SH SOLE X KOOKMIN BANK (NEW) (SP.ADRS) SPONSORED ADR 50049M109 2574.13 82,031 SH SOLE X KOREA EL.POWER -ADR'S- SPONSORED ADR 500631106 64.12 7,000 SH SOLE X THE KOREA FUND INC. COM 500634100 10.67 566 SH SOLE X KOS PHARMACEUTICALS INC COM 500648100 27.20 825 SH SOLE X KRAFT FOODS INC. CL A 50075N104 1035.62 32,690 SH SOLE X KRISPY KREME DOUGHNUTS INC COM 501014104 19.09 1,000 SH SOLE X THE*KROGER CO. COM 501044101 28.76 1,580 SH SOLE X LSI LOGIC CORP. COM 502161102 33.38 4,380 SH SOLE X LTX CORP COM 502392103 0.04 4 SH SOLE X L-3 COMMUNICATIONS HLDGS INC. COM 502424104 370.74 5,550 SH SOLE X LA JOLLA PHARMACEUTICAL CO COM 503459109 12.15 5,000 SH SOLE X LABORATORY CORP.AMERICA COM NEW 50540R409 592.32 14,920 SH SOLE X LAM RESEARCH CORP COM 512807108 53.60 2,000 SH SOLE X LAMAR ADVERTISING CO. -A- CL A 512815101 8.67 200 SH SOLE X THE*ESTEE LAUDER COMP.-A- CL A 518439104 23592.15 483,644 SH SOLE X LEAR CORP. COM 521865105 11.80 200 SH SOLE X LEGGETT & PLATT INC. COM 524660107 13.36 500 SH SOLE X LEGG MASON INC. COM 524901105 671.38 7,377 SH SOLE X LEHM.BROTHERS HOLD.INC. COM 524908100 2336.89 31,055 SH SOLE X LEVEL 3 COMMUNICATIONS INC. COM 52729N100 37.91 10,800 SH SOLE X

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- --------------- --------- -------- ---------------------- ------------ ---------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- --------------- --------- -------- --------- ----- ------ ------------ ---------- ------ -------- ------ LEXMARK INTERNATIONAL INC. -A- CL A 529771107 28.96 300 SH SOLE X LIBERTY MEDIA CORP. NEW -CL.A COM SER A 530718105 361.86 40,251 SH SOLE X LIBERTY MEDIA INTL INC COM SER A 530719103 78.54 2,117 SH SOLE X LIBERTY PROPERTY TRUST SH BEN INT 531172104 4.02 100 SH SOLE X LIFECELL CORP. COM 531927101 22.46 2,000 SH SOLE X ELI*LILLY & CO. COM 532457108 3387.00 48,448 SH SOLE X LIMITED BRANDS INC. COM 532716107 19.75 1,056 SH SOLE X LINCARE HOLDINGS INC. COM 532791100 9.86 300 SH SOLE X LINCOLN NATIONAL CORP. COM 534187109 791.11 16,743 SH SOLE X LINEAR TECHNOLOGY CORP. COM 535678106 25.66 650 SH SOLE X LIZ CLAIBORNE INC. COM 539320101 7.20 200 SH SOLE X LOCKHEED MARTIN CORP. COM 539830109 1600.52 30,732 SH SOLE X LOEW'S CORP. COM 540424108 17.99 300 SH SOLE X LOWE'S COMPANIES INC. COM 548661107 1027.88 19,560 SH SOLE X LUCENT TECHNOLOGIES INC. COM 549463107 2185.12 578,073 SH SOLE X M AND T BANK CORP. COM 55261F104 619.83 7,100 SH SOLE X MBIA INC. COM 55262C100 22.56 395 SH SOLE X MBNA CORP. COM 55262L100 125.75 4,876 SH SOLE X MGIC INVESTMENT CORP. COM 552848103 15.17 200 SH SOLE X MGM MIRAGE COM 552953101 9.39 200 SH SOLE X MRV COMMUNICATIONS INC COM 553477100 8.22 3,000 SH SOLE X MTC TECH COM 55377A106 4.39 170 SH SOLE X MACROVISION CORP. COM 555904101 1.00 40 SH SOLE X MACROMEDIA INC COM 556100105 13.75 560 SH SOLE X THE*MALAYSIA FUND INC. COM 560905101 2.66 500 SH SOLE X MANOR CARE INC. COM 564055101 6.54 200 SH SOLE X MANPOWER INC. COM 56418H100 2414.27 47,553 SH SOLE X MANULIFE FINL CORP COM 56501R106 139.93 3,455 SH SOLE X MARATHON OIL CORP. COM 565849106 461.35 12,192 SH SOLE X MARLTON TECHNOLOGIES INC COM 571263102 4.03 7,000 SH SOLE X MARSH & MCLENNAN COS.INC. COM 571748102 4911.34 108,227 SH SOLE X MARSHALL & ILSLEY CORP. COM 571834100 16.42 420 SH SOLE X MARRIOTT INTERNATIONAL INC.-A- CL A 571903202 46.39 930 SH SOLE X MARTEK BIOSCIENCES CORP COM 572901106 943.66 16,800 SH SOLE X MARVEL ENTERPRISES INC. COM 57383M108 36.70 1,880 SH SOLE X MASCO CORP. COM 574599106 90.64 2,907 SH SOLE X MATTEL INC. COM 577081102 6120.87 335,390 SH SOLE X MATTHEWS INC.CORP.-A- CL A 577128101 75.76 2,300 SH SOLE X MAXTOR CORP. COM NEW 577729205 3.65 550 SH SOLE X MAXIM INTERGR.PROD.INC. COM 57772K101 487.24 9,295 SH SOLE X MAY DEPARTMENT STORES COM 577778103 16.49 600 SH SOLE X MAYTAG CORP. COM 578592107 6.13 250 SH SOLE X MCCORMICK & CO.INC. COM 579780206 10.20 300 SH SOLE X MCDATA CORP. -A- CL A 580031201 8.90 1,655 SH SOLE X MCDONALD'S CORP. COM 580135101 49164.93 1,890,959 SH SOLE X MC GRAW HILL COMP.INC. COM 580645109 1509.65 19,716 SH SOLE X MCKESSON CORP. COM 58155Q103 74.05 2,157 SH SOLE X MCLEODUSA INC. SHARES CL.A CL A 582266706 0.96 2,000 SH SOLE X MEADVESTVACO CORP. COM 583334107 32.62 1,110 SH SOLE X MECHANICAL TECHN.INC. COM 583538103 3.59 600 SH SOLE X MEDAREX INC. COM 583916101 0.15 20 SH SOLE X MEDCOHEALTH SOLUTIONS INC. COM 58405U102 38.18 1,018 SH SOLE X

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- --------------- --------- --------- ---------------------- ------------ ---------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- --------------- --------- --------- --------- ----- ------ ------------ ---------- ------ -------- ------ MEDIMMUNE INC. COM 584699102 310.15 13,260 SH SOLE X MEDTRONIC INC. COM 585055106 11655.53 239,235 SH SOLE X MELLON FINANCIAL CORP. COM 58551A108 324.10 11,050 SH SOLE X MERCANTILE BANKSHARES CORP. COM 587405101 4.68 100 SH SOLE X MERCK & CO.INC. COM 589331107 9930.59 209,065 SH SOLE X MERCURY INTERACTIVE CORP. COM 589405109 43.85 880 SH SOLE X MERIDIAN GOLD INC COM 589975101 5.99 462 SH SOLE X MERRILL LYNCH & CO. COM 590188108 27638.95 512,022 SH SOLE X METLIFE INC. COM 59156R108 363.52 10,140 SH SOLE X METROGAS SA -B- ADR'S SPON ADR B 591673207 3.71 1,000 SH SOLE X THE*MEXICO EQUITY INCOME FUND COM 592834105 24.00 2,000 SH SOLE X THE MEXICO FUND INC. COM 592835102 78.39 4,072 SH SOLE X MICHAELS STORES INC. COM 594087108 11.00 200 SH SOLE X MICROSOFT CORP.-SPLIT- COM 594918104 111066.64 3,888,888 SH SOLE X MICROSTRATEGY INC. -CL.A- NEW CL A NEW 594972408 2.14 50 SH SOLE X MICROCHIP TECHNOLOGY COM 595017104 336.85 10,680 SH SOLE X MICRON TECHNOLOGY INC. COM 595112103 75.19 4,911 SH SOLE X MIDCAP SPDR TRUST UNITS. SER.1 UNIT SER 1 595635103 234.42 2,110 SH SOLE X MILLENIUM PHARMACEUTIC. INC. COM 599902103 12.16 881 SH SOLE X MILLENNIUM CHEMICALS INC. COM 599903101 24.94 1,440 SH SOLE X MILLIPORE CORP. COM 601073109 6.76 120 SH SOLE X MINDSPEED TECHNOLOGIES INC. COM 602682106 0.82 166 SH SOLE X MOBILE TELESYST.SP.ADR'S SPONSORED ADR 607409109 156.16 1,280 SH SOLE X MOHAWK INDUSTRIES INC. COM 608190104 14.67 200 SH SOLE X MOLEX INC. COM 608554101 32.08 1,000 SH SOLE X MOLEX INC.-A- CL A 608554200 3.55 130 SH SOLE X MONSANTO CO. COM 61166W101 9017.28 234,215 SH SOLE X MOODY'S CORP. COM 615369105 803.08 12,420 SH SOLE X MORGAN STANLEY COM NEW 617446448 529.18 10,028 SH SOLE X MORGAN STANLEY ASIA PAC FD I COM 61744U106 43.88 3,900 SH SOLE X MORGAN STANLEY INDIA INVS FD COM 61745C105 60.45 3,000 SH SOLE X MOTOROLA INC. COM 620076109 25456.27 1,394,864 SH SOLE X MTROLA 7% EQT SEC04 EQTY UNIT 7% 620076208 8.15 165 SH SOLE X MURPHY OIL CORP. COM 626717102 14.74 200 SH SOLE X MYLAN LABORAT.INC. COM 628530107 52.83 2,609 SH SOLE X MYRIAD GENETICS INC. COM 62855J104 14.92 1,000 SH SOLE X NCR CORP. COM 62886E108 17.36 350 SH SOLE X NII HOLDINGS B CL B NEW 62913F201 50.54 1,500 SH SOLE X NTL INC DEL COM 62940M104 63.38 1,100 SH SOLE X NTL INC.(DEL.)WTS. 03 10.1.11 W EXP 01/13/201 62940M138 0.01 1 SH SOLE X NTT DOCOMO INC. (SP.ADR'S) SPONS ADR 62942M201 18.11 1,000 SH SOLE X NABI BIOGHARMACEUTICALS COM 629519109 1.42 100 SH SOLE X NAM TAI ELECTRONICS INC. COM PAR $0.02 629865205 43.04 2,000 SH SOLE X NASDAQ-100 TRUST-S.1 UNITS UNIT SER 1 631100104 4231.30 112,117 SH SOLE X NATIONAL CITY CORP. COM 635405103 1116.78 31,899 SH SOLE X NATIONAL COMMERCE FINL CORP. COM 63545P104 13.00 400 SH SOLE X NATIONAL FINL PRTNS COM 63607P208 529.05 15,000 SH SOLE X NATIONAL SEMICONDUCTOR CORP. COM 637640103 41.78 1,900 SH SOLE X NAVISTAR INTL CORP NEW COM 63934E108 65.50 1,690 SH SOLE X NEKTAR THERAPEUTICS COM 640268108 40.92 2,050 SH SOLE X NETBANK INC COM 640933107 5.79 530 SH SOLE X NETWORK ASSOCIATES INC. COM 640938106 9.61 530 SH SOLE X

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- --------------- --------- --------- ---------------------- ------------ ---------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- --------------- --------- --------- --------- ----- ------ ------------ ---------- ------ -------- ------ NET SERV.COM. PFD. SHS(SP.ADRS) SPONSORED ADR 64109T102 0.59 300 SH SOLE X NETFLIX INC. COM 64110L106 36.00 1,000 SH SOLE X NETEASE.COM INC. (SP.ADR'S) SPONSORED ADR 64110W102 4.96 120 SH SOLE X NETWORK APPLIANCE INC. COM 64120L104 38.54 1,790 SH SOLE X NEUROCRINE BIOSCIENCES INC COM 64125C109 18.15 350 SH SOLE X NEW PLAN EXCEL REALTY TR. INC. COM 648053106 11.68 500 SH SOLE X NEW YORK COMMUN.BANCORP COM 649445103 14.39 733 SH SOLE X NEW YORK TIM.CL.A NON-VOT. CL A 650111107 124.29 2,780 SH SOLE X NEWELL RUBBERMAID INC. COM 651229106 96.70 4,115 SH SOLE X NEWMONT MINING CORP. COM 651639106 914.97 23,606 SH SOLE X NEWPARK RESOURCES INC. COM PAR $.01NEW 651718504 6.20 1,000 SH SOLE X NEWS CORP.VGT.PREF.ADRS/4 SP ADR PFD 652487802 4.34 132 SH SOLE X NEXTEL COMM. -A- CL A 65332V103 40823.50 1,531,264 SH SOLE X NEXTEL PARTNERS INC. CL A 65333F107 60.66 3,810 SH SOLE X NIKE INC.-CLASS B- CL B NEW 654106103 1065.50 14,066 SH SOLE X NISOURCE INC. COM 65473P105 14.43 700 SH SOLE X NOKIA CORP.-A- SP.ADR'S SPONSORED ADR 654902204 1179.66 81,132 SH SOLE X NOMURA HOLDINGS ADR SPONSORED ADR 65535H208 61.30 4,100 SH SOLE X NORDSTROM INC. COM 655664100 16.19 380 SH SOLE X NORFOLK & SOUTHERN CORP. COM 655844108 21.22 800 SH SOLE X NORTEL INV.PREF.SHS.B SP. ADR'S SPON ADR PFD B 656567401 11.08 2,000 SH SOLE X NORTEL NETWORKS CORP COM 656568102 223.58 44,805 SH SOLE X NORTH FORK BANCORPORATION INC. COM 659424105 15.22 400 SH SOLE X NORTHEAST UTILITIES INC. COM 664397106 8.96 460 SH SOLE X NOTHERN TRUST CORP. COM 665859104 19.45 460 SH SOLE X NORTHROP GRUMMAN CORP. COM 666807102 7287.52 135,708 SH SOLE X NOVARTIS AG -ADR'S- SPONSORED ADR 66987V109 110.58 2,485 SH SOLE X NOVELL INC. COM 670006105 7349.66 876,002 SH SOLE X NOVELLUS SYSTEMS INC. COM 670008101 12.58 400 SH SOLE X NOVOGEN LTD. SHS(SPONS.ADRS) SPONSORED ADR 67010F103 27.84 1,500 SH SOLE X NSTAR COM 67019E107 9.58 200 SH SOLE X NUCOR CORP. COM 670346105 11.51 150 SH SOLE X NUVEEN DIVIDEND-SBI COM SH BEN INT 67070X101 53.32 4,000 SH SOLE X NUVEEN RL EST INCM COM 67071B108 23.56 1,400 SH SOLE X OSI PHARMACEUTICALS INC COM 671040103 179.62 2,550 SH SOLE X OAKLEY INC. COM 673662102 60.82 4,700 SH SOLE X OCCIDENTAL PETROL.CORP. COM 674599105 19577.78 404,416 SH SOLE X OFFICE DEPOT INC. COM 676220106 16.12 900 SH SOLE X OLD REPUBLIC INTERNAT. CORP. COM 680223104 7.83 330 SH SOLE X OMNICARE INC. COM 681904108 152.62 3,565 SH SOLE X OMNICOM GROUP INC. COM 681919106 557.56 7,347 SH SOLE X ON2 TECHNOLOGIES INC. COM 68338A107 10.28 14,900 SH SOLE X VYMPELKOM. -NAM. (SP.ADR'S)- SPONSORED ADR 68370R109 368.44 3,820 SH SOLE X ORACLE CORP. COM 68389X105 34820.89 2,918,767 SH SOLE X OUTBACK STEAKHOUSE INC. COM 689899102 8.27 200 SH SOLE X OXFORD HEALTH PLANS INC. COM 691471106 11.56 210 SH SOLE X PG & E CORP. COM 69331C108 25.70 920 SH SOLE X THE PMI GROUP INC. COM 69344M101 13.06 300 SH SOLE X PNC FINANCIAL SERVICES GROUP. COM 693475105 33.97 640 SH SOLE X POSCO -SP.ADRS- SPONSORED ADR 693483109 7320.83 218,467 SH SOLE X PPG INDUSTRIES INC. COM 693506107 321.82 5,150 SH SOLE X PPL CORP. COM 69351T106 22.49 490 SH SOLE X

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- --------------- --------- --------- ---------------------- ------------ ---------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- --------------- --------- --------- --------- ----- ------ ------------ ---------- ------ -------- ------ PACCAR INC. COM 693718108 22.15 382 SH SOLE X PAC-WEST TELECOMM INC. COM 69371Y101 0.23 210 SH SOLE X PACIFIC.HEALTH SYS.INC. COM 695112102 42.53 1,100 SH SOLE X PACTIV CORP. COM 695257105 10.23 410 SH SOLE X PAIN THERAPEUTICS INC COM 69562K100 14.09 1,748 SH SOLE X PALL CORP. COM 696429307 5.24 200 SH SOLE X PALMONE INC. COM 69713P107 61.58 1,771 SH SOLE X PALMSOURCE-WI COM 697154102 7.61 444 SH SOLE X PARAMETRIC TECHNOLOGY CORP. COM 699173100 1.50 300 SH SOLE X PARKER-HANNIFIN CORP. COM 701094104 11.30 190 SH SOLE X PATH 1 NETWORK TECHN. INC. COM 703186205 36.50 10,000 SH SOLE X PATTERSON DENTAL COMP. COM 703412106 15.30 200 SH SOLE X PATTERSON-UTI ENERGY INC. COM 703481101 3.34 200 SH SOLE X PAYCHEX INC. COM 704326107 5692.86 168,030 SH SOLE X J.C.*PENNEY CO.INC. COM 708160106 19.64 520 SH SOLE X PEOPLESOFT INC. COM 712713106 401.88 21,723 SH SOLE X PEPCO HOLDINGS INC. COM 713291102 6.76 370 SH SOLE X PEPSI BOTTLING GROUP INC. COM 713409100 15.27 500 SH SOLE X PEPSICO INC. COM 713448108 34503.24 640,372 SH SOLE X PERUS.PERSER. -B-(SPON.ADR'S)20 SPONSORED ADR 715684106 3396.12 218,400 SH SOLE X PETROCHINA CO. LTD. (SP.ADR'S) SPONSORED ADR 71646E100 27.78 600 SH SOLE X PETROBR.ENERG.PA.B. (ADRS)AP SP ADR B SHS 71646M102 257.90 26,424 SH SOLE X PETROFUND ENERGY TRUST TR UNIT 71648W108 19.53 1,750 SH SOLE X PETROKAZAKHSTAN INC COM 71649P102 27.22 1,000 SH SOLE X PETROLEO BRAS.PREF. SP.ADR'S SPONSORED ADR 71654V101 172.62 6,850 SH SOLE X PETROLEO BRASI.PETROBR. (ADR'S) SPONSORED ADR 71654V408 64.56 2,300 SH SOLE X PETSMART INC. COM 716768106 12.98 400 SH SOLE X PFIZER INC. COM 717081103 156076.91 4,553,002 SH SOLE X PHARMOS CORP. COM 717139208 6.17 1,500 SH SOLE X PHELPS DODGE CORP. COM 717265102 5497.78 70,930 SH SOLE X PINNACLE WEST CAPITAL CORP. COM 723484101 10.91 270 SH SOLE X PIONEER CORP JAPAN SPONSORED ADR 723646105 6.52 250 SH SOLE X PIONEER NATURAL RESOURCES CO. COM 723787107 10.52 300 SH SOLE X PIPER JAFFRAY COS COM 724078100 9.41 208 SH SOLE X PITNEY-BOWES INC. COM 724479100 19.91 450 SH SOLE X PIXAR INC. COM 725811103 2.29 33 SH SOLE X PLUG POWER INC. COM 72919P103 21.69 2,900 SH SOLE X PLUM CREEK TIMBER CO.INC. COM 729251108 16.29 500 SH SOLE X POGO PRODUCING CO. COM 730448107 9.88 200 SH SOLE X POLO RALPH LAUREN CORP. -A- CL A 731572103 41.34 1,200 SH SOLE X POPULAR INC COM 733174106 27.80 1,300 SH SOLE X PORTAL SOFTWARE INC. -REG.- COM NEW 736126301 0.20 56 SH SOLE X PORTUGAL TELEC. (ADR)-STOCKD.- SPONSORED ADR 737273102 30.96 2,856 SH SOLE X PRAXAIR INC. COM 74005P104 1538.93 38,560 SH SOLE X T.ROWE PRICE GROUP INC. COM 74144T108 15.12 300 SH SOLE X PRICELINE.COM INC. COM NEW 741503403 21.81 810 SH SOLE X PRICESMART COM 741511109 23.44 3,750 SH SOLE X PRIDE INTL INC DEL COM 74153Q102 5.13 300 SH SOLE X PRINCIPAL FINANCIAL GROUP INC. COM 74251V102 180.86 5,200 SH SOLE X PRIVATE MEDIA GROUP INC. COM 74266R104 1.80 800 SH SOLE X PROCTER & GAMBLE CO. COM 742718109 56662.19 1,040,819 SH SOLE X PROGRESS ENERGY INC. COM 743263105 21.14 480 SH SOLE X

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- --------------- --------- --------- ---------------------- ------------ ---------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- --------------- --------- --------- --------- ----- ------ ------------ ---------- ------ -------- ------ PROGRESSIVE CORP. COM 743315103 116.69 1,368 SH SOLE X PRUDENTIAL FINANCIAL INC. COM 744320102 23668.24 509,323 SH SOLE X PUBLIC SERV.ENTERP.GROUP INC. COM 744573106 188.54 4,710 SH SOLE X PUBLIC STORAGE INC. COM 74460D109 13.80 300 SH SOLE X PUGET ENERGY INC. COM 745310102 6.79 310 SH SOLE X QLOGIC CORP. COM 747277101 122.05 4,590 SH SOLE X QUALCOMM INC. COM 747525103 6012.46 82,385 SH SOLE X QUANTUM CORP COM DSSG 747906204 15.50 5,000 SH SOLE X QUEST DIAGNOSTICS INC. COM 74834L100 16.99 200 SH SOLE X QUESTAR CORP. COM 748356102 7.73 200 SH SOLE X QUILMES SP.ADR-B SP ADR CL B 74838Y207 35.34 2,100 SH SOLE X QWEST COMM.INT.INC COM 749121109 18.47 5,145 SH SOLE X QUOVADX INC. COM 74913K106 1.12 1,000 SH SOLE X RSA SECURITY INC. COM 749719100 6.14 300 SH SOLE X RADIAN GROUP INC. COM 750236101 9.58 200 SH SOLE X RADIOSHACK CORP. COM 750438103 14.32 500 SH SOLE X RAE SYS INC COM 75061P102 27.00 5,000 SH SOLE X RAMBUS INC.(DEL.) COM 750917106 42.55 2,400 SH SOLE X RAYTHEON CO. COM NEW 755111507 339.89 9,502 SH SOLE X READER'S DIGEST ASS. CLASS A COM 755267101 24.78 1,550 SH SOLE X RED HAT INC. COM 756577102 176.87 7,700 SH SOLE X REGIS CORP MINN COM 758932107 58.41 1,310 SH SOLE X REGIONS FINANCIAL CORP. COM 758940100 14.56 490 SH SOLE X REPSOL YPF -ADR'S- SPONSORED ADR 76026T205 12.24 560 SH SOLE X REPUBLIC SERVICES INC. -A- COM 760759100 11.58 400 SH SOLE X R.J.REYNOL.TOBACCO HLDGS. INC. COM 76182K105 358.90 5,310 SH SOLE X RICA FOODS INC. COM NEW 762582203 220.46 35,500 SH SOLE X RIO TINTO SP ADR SPONSORED ADR 767204100 160.02 1,632 SH SOLE X ROBERT HALF INTERNATIONAL INC. COM 770323103 8.93 300 SH SOLE X ROCKWELL AUTOMATION INC. COM 773903109 18.76 500 SH SOLE X ROCKWELL COLLINS INC. COM 774341101 23.32 700 SH SOLE X ROFIN SINAR TECHNOLOGIES INC. COM 775043102 10.16 400 SH SOLE X ROHM & HAAS CO. COM 775371107 12.39 298 SH SOLE X ROPER INDUSTRIES INC. COM 776696106 398.53 7,004 SH SOLE X ROSS STORES INC. COM 778296103 10.70 400 SH SOLE X ROSTELEKOM OAO M.-SPONS. ADR'S- SPONSORED ADR 778529107 19.38 1,500 SH SOLE X THE*ROUSE CO. COM 779273101 522.98 11,010 SH SOLE X ROXIO INC COM 780008108 0.04 8 SH SOLE X ROYAL DUTCH PETROL. NEW YORK NY REG EUR .56 780257804 250.08 4,840 SH SOLE X ROYAL GOLD INC. COM 780287108 13.60 960 SH SOLE X SBC COMMUNICATIONS SOM 78387G103 1154.59 47,612 SH SOLE X SCM MICROSYSTEMS INC. COM 784018103 7.80 1,200 SH SOLE X SEI INVESTMENT CO. COM 784117103 104.54 3,600 SH SOLE X SK TELECOM -SP.ADR'S 1/9- SPONSORED ADR 78440P108 2800.07 133,400 SH SOLE X SLM CORP. COM 78442P106 38.43 950 SH SOLE X SPDR TRUST S & P DEPOS. REC. UNIT SER 1 78462F103 14345.23 125,253 SH SOLE X SPX CORP. COM 784635104 41.80 900 SH SOLE X S R TELECOM INC COM NEW 78464P208 0.27 73 SH SOLE X SABRE HOLDINGS CORP.CL.A CL A 785905100 11.08 400 SH SOLE X SAFECO CORP. COM 786429100 1352.34 30,735 SH SOLE X SAFEWAY INC. COM NEW 786514208 148.75 5,870 SH SOLE X ST.JOE CO. COM 790148100 5.96 150 SH SOLE X

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- --------------- --------- --------- ---------------------- ------------ ---------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- --------------- --------- --------- --------- ----- ------ ------------ ---------- ------ -------- ------ ST.JUDE MEDICAL INC. COM 790849103 1799.71 23,790 SH SOLE X ST.PAUL COMPANIES INC. COM 792860108 8753.48 215,922 SH SOLE X SANDISK CORP. COM 80004C101 2092.43 96,470 SH SOLE X SANMINA-SCI CORP. COM 800907107 11.67 1,282 SH SOLE X SAP VORZ.SPONS.ADR'S SPONSORED ADR 803054204 87.38 2,090 SH SOLE X SARA LEE CORP. COM 803111103 51.50 2,240 SH SOLE X SAVVIS COMMUNICATIONS CORP COM 805423100 20.70 15,000 SH SOLE X SCANA CORP. COM 80589M102 7.27 200 SH SOLE X HENRY SCHEIN INC. COM 806407102 6.31 100 SH SOLE X SCHERING-PLOUGH CORP. COM 806605101 200.14 10,830 SH SOLE X SCHLUMBERGER LTD COM 806857108 793.56 12,495 SH SOLE X CHARLES SCHWAB COM 808513105 68.14 7,091 SH SOLE X SCRIPPS (E.W.)CO. CL.-A- CL A 811054204 6.30 60 SH SOLE X SCUDDER NEW ASIA FUND INC. COM 811183102 6.38 500 SH SOLE X SEALED AIR CORP. COM 81211K100 9.59 180 SH SOLE X SEARS,ROEBUCK & CO. COM 812387108 22.66 600 SH SOLE X SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 48.90 1,600 SH SOLE X SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 36.00 1,559 SH SOLE X SECTOR SPDR TRUST-BENEF. INT.- SBI INT-TECH 81369Y803 57.96 2,800 SH SOLE X SEMPRA ENERGY COM 816851109 20.66 600 SH SOLE X SEPRACOR INC COM 817315104 34.39 650 SH SOLE X SERENA SOFTWARE INC COM 817492101 35.91 1,881 SH SOLE X SERONO S.A. SPONSORED ADR 81752M101 56.70 3,600 SH SOLE X SERVICE CORP. INT. COM 817565104 35.85 4,864 SH SOLE X SERVICE MASTER CO. COM 81760N109 9.86 800 SH SOLE X 724 SOLUTIONS INC COM NEW 81788Q209 0.06 20 SH SOLE X THE*SHAW GROUP INC. COM 820280105 82.05 8,100 SH SOLE X THE*SHELL TRANSP.TR. -ADR/6- ADR NY SHS NEW 822703609 134.10 3,000 SH SOLE X SHERWIN-WILLIAMS CO. SOM 824348106 10.39 250 SH SOLE X SIEBEL SYSTEMS INC. SOM 826170102 161.63 15,120 SH SOLE X SIEMENS AG (SP.ADR'S) SPONSORED ADR 826197501 145.04 2,000 SH SOLE X SIERRA WIRELESS INC COM 826516106 14.81 400 SH SOLE X SIGMA-ALDRICH CORP. COM 826552101 8.35 140 SH SOLE X SILICON GRAPHICS INC. COM 827056102 1914.00 870,000 SH SOLE X SILICON IMAGE INC COM 82705T102 26.22 2,000 SH SOLE X SIMON PROPERTY GROUP INC. COM 828806109 13.37 260 SH SOLE X SIRIUS SATELLITE RADIO INC. COM 82966U103 18.33 5,950 SH SOLE X SKYWEST INC. COM 830879102 77.47 4,450 SH SOLE X SKYWORKS SOLUTIONS INC. COM 83088M102 1.53 175 SH SOLE X SMITH INTERNATIONAL INC-SPLIT- COM 832110100 399.24 7,160 SH SOLE X SMITHFIELD FOODS INC. COM 832248108 32.93 1,120 SH SOLE X J.M.SMUCKER CO. COM NEW 832696405 0.32 7 SH SOLE X SMURFIT-STONE CONTAINER CORP. COM 832727101 12.81 642 SH SOLE X SOC.QUIMICA MIN.CHILE ADR'S-B- SPON ADR SER B 833635105 20.45 500 SH SOLE X SOC.QUIMICA MIN.SPONS. ADR'S SPONSORED ADR 833636103 1.16 28 SH SOLE X SOHU.COM INC. SOM 83408W103 29.82 1,500 SH SOLE X SOLEKTRON CORP. COM 834182107 34.69 5,361 SH SOLE X SONIC CORP COM 835451105 48.69 2,140 SH SOLE X SONOCO PRODUCTS CO. COM 835495102 22.95 900 SH SOLE X SONY CORP.ADR'S ADR NEW 835699307 9.51 250 SH SOLE X THE*SOUTHERN CO. COM 842587107 133.22 4,570 SH SOLE X SOUTHTRUST CORP. COM 844730101 956.67 24,650 SH SOLE X

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- --------------- --------- --------- ---------------------- ------------ ---------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- --------------- --------- --------- --------- ----- ------ ------------ ---------- ------ -------- ------ SOUTHWEST AIRLINES CO. COM 844741108 4742.17 282,777 SH SOLE X SOVEREIGN BANCORP.INC. COM 845905108 13.26 600 SH SOLE X SPINNAKER EXPL COM 84855W109 27.57 700 SH SOLE X SPRINT CORP.-FON SER.1 COM FON GROUP 852061100 72.34 4,110 SH SOLE X THE*STANLEY WORKS COM 854616109 4.56 100 SH SOLE X STAPLES INC. COM 855030102 63.53 2,160 SH SOLE X STARBUCKS CORP. COM 855244109 2605.88 59,919 SH SOLE X STARWOOD HOTELS&RES. WORLDW.INC PAIRED CTF 85590A203 18.07 403 SH SOLE X STATE STREET CORP. COM 857477103 3858.47 78,680 SH SOLE X STERIS CORP. COM 859152100 72.19 3,200 SH SOLE X STORAGE TECHN.CORP. COM PAR $0.10 862111200 8.70 300 SH SOLE X STRYKER CORP. COM 863667101 4365.08 79,365 SH SOLE X SUN LIFE FINL INC COM 866796105 349.91 12,091 SH SOLE X SUN MICROSYSTEMS COM 866810104 1246.75 287,932 SH SOLE X SUNGARD DATA SYST.INC. COM 867363103 615.94 23,690 SH SOLE X SUN CO. COM 86764P109 14.00 220 SH SOLE X SUNTRUST BKS INC COM 867914103 42.11 648 SH SOLE X SUPERVALU INC. COM 868536103 9.49 310 SH SOLE X SWISS HELVETIA FD INC COM 870875101 16.40 1,259 SH SOLE X SYCAMORE NETWORKS INC. COM 871206108 1.48 350 SH SOLE X SYMANTEC CORP. COM 871503108 6427.34 146,810 SH SOLE X SYMYX TECHNOLOGIES COM 87155S108 26.05 1,080 SH SOLE X SYNOPSYS INC. COM 871607107 11.37 400 SH SOLE X SYNGENTA NAM.SPONS.ADR'S SPONSORED ADR 87160A100 1.81 108 SH SOLE X SYNOVUS FINANCIAL CORP. COM 87161C105 14.94 590 SH SOLE X SYSCO CORP. COM 871829107 2438.73 67,988 SH SOLE X TCF FINANCIAL CORP. COM 872275102 11.61 200 SH SOLE X TECO ENERGY INC. COM 872375100 5.04 420 SH SOLE X TUX COMPANIES INC COM 872540109 38.62 1,600 SH SOLE X TRW AUTOMOTIVE HLDGS CORP COM 87264S106 1035.81 54,950 SH SOLE X TXU CORP. COM 873168108 28.36 700 SH SOLE X TAIWAN SEMCOND.MANUF. ADR'S SPONSORED ADR 874039100 1102.99 132,731 SH SOLE X TARGET CORP. COM 87612E106 11876.91 279,654 SH SOLE X TASER INTL INC COM 87651B104 43.23 1,000 SH SOLE X TEAMSTAFF INC. COM NEW 87815U204 10.29 4,255 SH SOLE X TEJON RANCH CO. COM 879080109 20.88 600 SH SOLE X TEKTRONIX INC. COM 879131100 4.76 140 SH SOLE X TELE CELULAR PARTICIP. (ADR'S) SPON ADR PFD 879238103 0.18 14 SH SOLE X TELE CENTRO (SPONS.ADR'S)PREF. SPON ADR PFD 87923P105 59.24 6,460 SH SOLE X TELEMAR-TELE NOR.L.PREF. SP.ADR SPON ADR PFD 879246106 2692.27 211,490 SH SOLE X TELE NE.CELULAR PART. PREF.ADRS SPON ADR PFD 87924W109 0.16 7 SH SOLE X TELE NORTE CELULAR ADR'S/PFD SPON ADR PFD 87924Y105 0.02 2 SH SOLE X TELE SUDESTE CEL. PREF.SP.ADR'S SPON ADR PFD 879252104 182.32 18,510 SH SOLE X TELEC.ARGEN. STET-FRANCE-B-ADRS SPON ADR REP B 879273209 1133.44 125,380 SH SOLE X TELEBRAS UNITS SPONSORED ADR 879287308 269.38 9,241 SH SOLE X TELECOMMUNICATIONS SYSTEMS INC CL A 87929J103 12.50 2,200 SH SOLE X TELEF.ARG.CL.B SP.ADR'S 10/AP SP ADR .8156 B 879378404 1.55 200 SH SOLE X TELEFONICA S.A.ADR'S SPONSORED ADR 879382208 218.06 4,886 SH SOLE X TELEF.DE MEX.S:L20 ADR'S SPON ADR ORD L 879403780 565.42 16,995 SH SOLE X TELEPHONE & DATA SYSTEMS INC. COM 879433100 9.26 130 SH SOLE X TELE LESTE CEL.ADR'S/PREF.SPON ADR PFD 87943B102 0.03 2 SH SOLE X TELEMIG CELULAR PART.PF. ADR'S SPON ADR PFD 87944E105 59.21 2,007 SH SOLE X

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- --------------- --------- --------- ---------------------- ------------ ---------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- --------------- --------- --------- --------- ----- ------ ------------ ---------- ------ -------- ------ TELESP CELULAR PREF.SP. ADR'S SPON ADR PFD 87952L108 0.47 60 SH SOLE X TELLABS INC. COM 879664100 163.91 18,754 SH SOLE X TEMPLE-INLAND INC. COM 879868107 6.93 100 SH SOLE X TEMPLETON DRAGON FUND INC. COM 88018T101 75.61 5,200 SH SOLE X TEMPLETON EMERGING MARKETS FD. COM 880191101 49.84 4,000 SH SOLE X TEMPLETON RUS AND EAST EUR F COM 88022F105 656.93 18,350 SH SOLE X TENARIS ADR SPONSORED ADR 88031M109 15.26 466 SH SOLE X TENET HEALTHCARE CORP. COM 88033G100 12.47 930 SH SOLE X TERADYNE INC. COM 880770102 13.96 615 SH SOLE X TERRA NETWORKS S.A. (SPONS ADR) SPONSORED ADR 88100W103 7.27 1,236 SH SOLE X TERREMARK WORLDWIDE INC. COM 881448104 4.42 5,200 SH SOLE X TEVA PHARMACEUTICAL IND. ADR'S ADR 881624209 3658.69 108,922 SH SOLE X TEXAS INSTRUMENTS INC. COM 882508104 3375.04 139,580 SH SOLE X THE THAI FUND INC. COM NEW 882904105 1091.35 126,901 SH SOLE X TEXTRON INC. COM 883203101 17.81 300 SH SOLE X THERMO ELECTRON CORP. COM 883556102 12.30 400 SH SOLE X 3*COM CORP. COM 885535104 43.13 6,900 SH SOLE X 3M CO. COM 88579Y101 13784.31 153,142 SH SOLE X TIBCO SOFTWARE INC. COM 88632Q103 169.97 20,115 SH SOLE X TIFFANY & CO. COM 886547108 19.90 540 SH SOLE X TIME WARNER INC. COM 887317105 17357.81 987,361 SH SOLE X TIVO INC. COM 888706108 39.56 5,580 SH SOLE X TORCHMARK CORP. COM 891027104 16.68 310 SH SOLE X TOYS "R" US INC. COM 892335100 6.37 400 SH SOLE X TRANSATLANTIC HOLD COM 893521104 5.18 80 SH SOLE X TRI- CONTINENTAL CORP. COM 895436103 7.57 450 SH SOLE X TRIAD HOSPITALS INC. COM 89579K109 167.54 4,500 SH SOLE X TRIBUNE CO.(DEL.) COM 896047107 847.32 18,606 SH SOLE X TRIQUINT SEMICONDUCTOR INC. COM 89674K103 2.73 500 SH SOLE X TUPPERWARE CORP. COM 899896104 25.26 1,300 SH SOLE X TURKCELL ILETISIM H. ADR-NAM. SPON ADR NEW 900111204 0.06 6 SH SOLE X TV AZTECA DE CV SPONS. ADR'S SPONSORED ADR 901145102 26.35 3,050 SH SOLE X TYCO INTL LTD NEW COM 902124106 195.72 5,906 SH SOLE X TYSON FOODS INC.-A- CL A 902494103 35.62 1,700 SH SOLE X UST INC. COM 902911106 11.52 320 SH SOLE X U.S.BANCORP. COM NEW 902973304 29793.13 1,081,028 SH SOLE X UNIBANCO GDR'S GDR REP PFD UT 90458E107 4238.19 214,375 SH SOLE X UNILEVER N.V. NEW YORK NY SHS NEW 904784709 129.83 1,895 SH SOLE X UNION PACIFIC CORP. COM 907818108 89.18 1,500 SH SOLE X UNION PLANTERS CORP. COM 908068109 9.84 330 SH SOLE X UNIONBANCAL CORP. COM 908906100 11.28 200 SH SOLE X UNISYS CORP. COM 909214108 8.47 610 SH SOLE X UNITED MICROELECTR. (SP.ADR'S) SPONSORED ADR 910873207 1985.56 497,541 SH SOLE X UNITED NATIONAL GROUP LTD. -A- CL A 91103X102 930.24 61,200 SH SOLE X UNITED PARCEL SERVICE INC. -B- CL B 911312106 896.03 11,920 SH SOLE X UNITED STATES STEEL CORP. COM 912909108 3870.22 110,200 SH SOLE X UNITED TECHNOLOGIES COM 913017109 26029.08 284,533 SH SOLE X UNITEDGLOBAL.COM INC.-A- CL A 913247508 0.37 51 SH SOLE X UNITED HEALTH GROUP INC. COM 91324P102 1560.23 25,064 SH SOLE X UNITRIN INC. COM 913275103 6.39 150 SH SOLE X UNIVERSAL HEALTH SERV. INC.CL.B CL B 913903100 100.96 2,200 SH SOLE X UNIVISION COMMUN.-A- CL A 914906102 15.97 500 SH SOLE X

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------- --------------- --------- --------- ---------------------- ------------ ---------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------- --------------- --------- --------- --------- ----- ------ ------------ ---------- ------ -------- ------ UNOCAL CORP. COM 915289102 1236.14 32,530 SH SOLE X UNUMPROVIDENT CORP. COM 91529Y106 11.00 692 SH SOLE X URSTADT BIDDLE PROP. -CLASS A- CL A 917286205 59.24 4,000 SH SOLE X UTSTARCOM INC. COM 918076100 69.58 2,300 SH SOLE X VF CORP. COM 918204108 12.18 250 SH SOLE X VALENCE TECHNOLOGY INC. COM 918914102 8.58 2,500 SH SOLE X VALERO ENERGY CORPORATION COM 91913Y100 1290.80 17,500 SH SOLE X VALLEY NATL BANCORP COM 919794107 3.03 120 SH SOLE X VALUECLICK INC. COM 92046N102 7.09 592 SH SOLE X VARIAN MEDICAL SYSTEMS INC. COM 92220P105 7.94 200 SH SOLE X VERITAS SOFTWARE CO. COM 923436109 7944.97 285,893 SH SOLE X VERISIGN INC. COM 92343E102 80.30 4,035 SH SOLE X VERIZON COMMUNICATIONS INC. COM 92343V104 9306.33 257,152 SH SOLE X VERTEX PHARMACEUTICALS COM 92532F100 7.76 716 SH SOLE X VIACOM INC. -A- CL A 925524100 7153.86 196,805 SH SOLE X VIACOM INC. -B- CL B 925524308 25942.51 726,274 SH SOLE X VIAD CORP. COM 92552R109 33.49 310 SH SOLE X VIA NET.WORKS INC. COM 925912107 0.40 500 SH SOLE X VIGNETTE CORP. COM 926734104 1.25 750 SH SOLE X VISTA GOLD CORP COM NEW 927926204 2.01 500 SH SOLE X VISHAY INTERTECHNOL.INC. COM 928298108 18.58 1,000 SH SOLE X VISTEON CORP. COM 92839U107 0.55 47 SH SOLE X VISX INC. COM 92844S105 32.06 1,200 SH SOLE X VITRO S.A. SPONS.ADR'S SPONSORED ADR 928502301 35.28 12,000 SH SOLE X VIVENDI UNIVERSAL (SPONS.ADRS) SPON ADR NEW 92851S204 45.53 1,632 SH SOLE X VODAFONE GROUP PLC (SP.ADR'S) SPONSORED ADR 92857W100 470.95 21,310 SH SOLE X VORNADO REAL.TR.SHS BENEF.INT SH BEN INT 929042109 11.42 200 SH SOLE X VULCAN MATERIALS COM 929160109 11.89 250 SH SOLE X WACHOVIA CORP. COM 929903102 13805.72 310,241 SH SOLE X WAL-MART STORES INC. COM 931142103 32321.88 612,621 SH SOLE X WALGREEN CO. COM 931422109 7977.61 220,315 SH SOLE X WASHINGTON MUTUAL INC. COM 939322103 351.93 9,108 SH SOLE X WASHINGTON POST CO. -B- CL B 939640108 9.30 10 SH SOLE X WASTE MANAGEMENT INC. (DEL.) COM 94106L109 39.14 1,277 SH SOLE X WATERS CORP. COM 941848103 158.39 3,315 SH SOLE X WATSON PHARMACEUTICALS INC. COM 942683103 33.63 1,250 SH SOLE X WEBMD CORP. COM 94769M105 13.05 1,400 SH SOLE X WEIGHT WATCHERS INTL INC NEW COM 948626106 93.94 2,400 SH SOLE X WELLPOINT HEALTH NETWORKS INC. COM 94973H108 815.99 7,285 SH SOLE X WELLS FARGO & CO. COM 949746101 6268.00 109,523 SH SOLE X WENDY'S INTERNATIONAL INC. COM 950590109 12.89 370 SH SOLE X WESTELL TECHN.INC.CL.A CL A 957541105 12.75 2,500 SH SOLE X WESTWOOD ONE INC. COM 961815107 129.23 5,430 SH SOLE X WEYERHAEUSER CO. COM 962166104 36.61 580 SH SOLE X WHEATON RIV MINERALS LTD COM 962902102 30.91 11,000 SH SOLE X WHIRLPOOL CORP. COM 963320106 8.92 130 SH SOLE X WHOLE FOODS MARKET INC. COM 966837106 19.09 200 SH SOLE X WILLIAMS COS.INC. COM 969457100 1168.71 98,211 SH SOLE X WILLIAMS-SONOMA INC. COM 969904101 9.89 300 SH SOLE X WINN-DIXIE STORES INC. COM 974280109 1.44 200 SH SOLE X WISCONSIN ENERGY CORP. COM 976657106 13.04 400 SH SOLE X WRIGHT MEDICAL GROUP INC COM 98235T107 110.36 3,100 SH SOLE X

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