CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN. 10 Year Backtesting Results The following charts show historical backtesting results from March 15, 1993 to December 20, 2004 on 3 different U.S. fund families and 1 Exchange Traded Fund (ETF) family. AIM-INVESCO Funds AMEX Sector SPDRs Fidelity Sector Funds Vanguard Sector Funds NOTE: The results shown represent testing performance only, using historical securities data in a controlled environment. While they are roughly indicative of actual historical trading returns, system performance may vary depending upon securities traded, market conditions, transaction costs, and economic factors which cannot be controlled or predicted. Past performance is not an indication or guarantee of future returns.