foy, rsi 2003 - conservative transparency

1 ~ T

Foy, 9g0-PF Return of Private Foundat RSIor Section 4947(a)(1) Nonexempt Charitable Trus t

Department of the Treasury Treated as a Private Foundatio nInternal Revenue Se rvice Note : The organization may be ab le to use a copy of this return to sa tisfy state repo rting requiremen ts.

FEB 29, 200 4For calendar yea r 2003 , o r tax year beg i nn ing MAR 1, 2003 , and en d in g

G Chec k all t ha t apply 0 Initial return Final re t urn Amended return

Use the IRS N ame of organization

label .Otherwise, RV ILLE D . & RUTH A . MERILLAT FOUNDATION

pr int Number and street (or P 0 box number If ma il is not deliv ered to street address) Room /su i te

or typ e. 1800 WEST U . S . 22 3See Spec i fi c

City or town, state, and ZIP codeInst ruc ti ons .DRIAN , MI 4922 1

H Ch eck ty pe of organization 0 Sect ion 501 (c)(3) e xempt private foun d at io nQ Section 4947(a)(1) nonexempt char ta b l e t ru st OX Other ta xa bl e private f oundat io n

I Fair mar ke t value of all assets at en d of year J Accounting me thod' Q C ash Accrual

(from Pa rt ll, col. (c), line 16) Q Ot her (s pecify )►$ 7 9 9 8 4 6 4 6 . (Part 1, column (0 must be on cash basis .)

l Analysis of Revenue and Expenses (a) R eve nu e and (b) Net investmen t(The total of amounts i n columns (b) , (c), and (d) may notbooks incomenecessar ily equal the amounts i n column (e ) I expenses pe r

1 Contribut ions, gi fts, gran ts, etc , receive dCheck 10- EX:] it the foundation Is not requ ired to attach Sch B

2 Dis tri butions from split -in terest t rus tsInterest on sav ings and tempor

ary 28 181 . 2 83 cas h Inv estmen ts , 181 .

4 Dividends and int erest f rom securities 6 3 9 1 4 1 . 639,141 .jg=D 5a Gross rents

1Cm~ b (Ne t rental income or (loss)

Be lNet10

n or Qoss) from sale of assets not on 2,381,408 .C-0 I= b Gross sales price for al l 36f820,959 .~~ assets on line 6a ~] o A

o: 7 Cap ital gain net i ncome (from Pa rt IV, line2) 2 J v 1 Y ~ 0 oO

8 N e t s ho rt-term capi tal gai n

- '~ 9 Income modifications110a Gross sales less returns

and allowan cesLJJ~ b Less Cost of goods sold

~E c Gross pro fi t or (loss)

11 O ther incom e1 2 Total . Add lines l through 11 3,048,730 . 3,048,730 .1 3 Compensat ion of officers, d irecto rs, trustees,etc 0 . 0 .

14 Oth er e mp loyee sala ri es a nd wage s

15 Pen sion plans, employee benefits

1 6a legal fees STMT 3 4f534 . 3 4 0 0 .b Accounting fees STMT 4 27r850 . 26,850 .c Oth er pro fession a l fees STMT 5 559t886 . 559,866 .

17 Interest .1 8 Taxes STMT 6 45,026 . 15,026 .

•~ 19 Depreciat ion and d epl et io n

20 Occu pan cy

Q 21 Tra ve l, conferences, an d me et ings22 P rint ing and pu b lica tion s

im 23 Other expenses STMT 7 372 . 362 .24 Total operating and administrativ e

n expenses . Adflmes 13 thp 637f668 . 6 0 5 5 0 4 .~ 6 9 7 8 2 0 0 .25 Con tribu t ns, gif"0~t aWE

26 Tota l exp ns s e m e n s. 0Add lines d 25 C0 7 615 86 8 .

27 Sub t rac t I ~, f e f!1a Excess of o~~ e„aai,~,

Cr< 4,567,138 .

b Ne t invest ant lc eDc Ad]uste d

:03 LHA For Paperwork Reduct i on Act Notice , see the Instructions .

605,504 .

2,443,226 .

address change U Name cha

Employe r i de nti f ic ation n um be r

38-247681 3B Telephone nu m be r

(517)265-542 5C If exemption application is pending, check hereD 1 . F oreign organizat ions, check h er e ►~

2 . Fo reign organizations meeti ng the 85% test , ►Ocheck here a n d attach computatio n

E If private foun d at io n status was termin atedunder sect ion 507(b)( 1 )(A), c hec k he r e ►

F If t h e f ounda tion is in a 60-month te rmina tio nunder sect ion 507(b)(1 B ,ch e c k h e re ►~

(c) Adjusted net b ~dna iisbieP ~oincome (cas h basis only)

0 .

OMB No 1545- 0052

2003

0 . 1 134 .0 . 1,000 .0 . 0 .

0 .

0 .

0 . 2r144 .6,978,200 .

0 . 1 6,980,344 .

0 .Form 990 -PF (2003)

r !

Form 990 :PF (2003) ORVILLE D . & RUTH A . MERILLAT FOUNDATION

Balance SheetsAttached schedules and amounts in the description Begin ni ng of year

Fair Market Valuecolumn should Oetwend-ol-yearartaun+s only (a) Book Value (b) Book Valu e

1 Ca sh -non-int erest-beari n g 8, 0 31, 0 81 . 4,431,787 .2 Sa vings and t emporary cash inv estme n ts

3 Accoun t s receivable 01

L ess a llowance for doubtful accoun ts

4 P ledges receivable 1

Less a l lowance for doubtfu l accounts

5 G ra nts receivabl e

6 Receivables due from o fficers, directors, t rustees, a nd other

d is qu alified person s

7 Other notes and lourts receivabl e

Less allowance for d oubtful accounts

8 Inventories for sale or us e

9 P repai d expe nses and de fe r re d cha rge s

10a Invest m e n ts - U S an d state gov e rn men t oblig a ti o n s

b Investments - corporate stock STMT 8

c Investments - corporate bonds STMT 9

11 Investments -land, buildings . and equipment basis

Lest accurtwlaled depredaCOn

12 Investm ents - mortgage loan s

1 3 Investments - other STMT 1014 La nd , buildings, an d e q uipm e nt b asis 10i

Less accumulated depreciation 110-

15 Oth er assets (describe 10'

4,431,787 .

5,462,217 .1 55 726,162 . 75 477,859 .1,754,794 . 433,005 .1 - 0 .

0 .1 90,000 .1 75,000 .

17 Account s pa yable a n d accrued expenses

18 G ra nts payable

d 19 De fer re d revenu e

20 Loans from offic ers, directors, trustees, and other disqualified persons

21 M ort gages a n d ot her no tes payable

22 Other liabilities (describe 00-

Organ izations that fol l ow SFAS 117 , check her e

H and complete lines 24 through 26 and lines 30 and 31 .

, 24 Un rest rictedC

25 Te mp ora ri l y re s t ricted

e2 26 Perma n e n tly re st rict e d

Organizations that do not follow SFAS 117 , check here 10"LL and complete lines 27 through 31 .

27 Cap ita l st o ck , trus t p ri n cipa l , or c urre nt fund s

28 Pa id -in o r capital s u rplu s, or l an d , b ldg , and equipment fun d

29 Retained e arnings, accu m ulated income , endowment , o r othe r f un d s

Z 30 Tota l n et ass e t s o r f u nd ba l ance s

65,248,092 .1 60,680,954 .1 79,984,646 .

0 .

0 .0 .

65,248,092 .65,248,092 .

38-2476813 PagetE nd of yea r

0 .

0 .0 .

60,680,954 .60 .680 .954 .

65,248,092 .1 60,680,954 .

Analysis of Changes in Net Assets or Fund Balances

1 Total net assets or fund balances at beginning of year - Part II, column (a), line 30

(mus t agree with end-o f-year figure reported on prior year's return )

2 En ter amount from Part I, line 27a

3 Other increases not included in line 2 (itemize )

4 Add lines 1, 2, and 3

5 Decreases no t included in line 2 (itemize) ►6 Total net assets or fund balances at end of year (line 4 minus line 5) - Part II, column (b), line 3 0

32351112 -05-03

65,248,092 .<4,567,138 . >

0 .60,680,954 .

0 .6 0 ,680,9 5 4 .Form 990-PF (2003)

r

Form 990;PF 2003 ORVILLE D . & RUTH A . MER IiY Capital Gains and Losses for Tax on Investme n

(a) List an d describe th e kin d (s) of property sold ( e g ,real estate,2-s to ry b rick ware h ouse, or common stock, 20 0 s h s M LC Co )

1 ab SEE ATTACHED STATEMENT

C

(e) Gross sales price

ab

c

d8 36,820,959 .

Co mp le te o n ly for a ssets showi

(1) F M V as o f 12/3 1 /6 9

a

b

c

d

(1) Depreciation allowed(or allowa ble )

gain in colu m n (h) and owne d

( 1 ) Adjusted basisas of 12 /31/69

( g ) Cost or other basisplus expense of sal e

I 34,439,!th e foun dat ion on 12/3 1 /6 9

( k ) Excess of col (i)over col (J), if any

(b H ow acq uired (c) Dat e acquired 11 (d) D ate sold

D- - Purchase I mo , day, yr) (mo , day, yr )

(h) Gain or (loss)(e) plus ( f ) minus (g )

(I) Gains (Col (h) gain minuscol ( k ), but no t less th an -0 -) or

posses (from col (h))

3

2,381,408 .

If ain, also enter in P art I, li ne 72 C ap ital gain n et income o r (net capi tal loss) ~ If loss), en ter -0- in P art I, lin e 7

3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6 )If gai n , a lso en ter in Pa rt I , lin e 8 , colum n (c) .If (loss), e nte r -0- in P art I, lin e 8 N/A

2,381,408 .

[ Fort v. I Qualittcation under Section 4940 (e) tor Kecfuced Tax on Net Investment Income

(For opt ional use b y d omes tic private fou n dations subject to t h e section 4 940 (a) ta x o n net inv es tmen t incom e

If se ct ion 4 940 ( d)( 2 ) ap p lies, leave th is p art b la n k

Was the o rgan i zat i on liable for th e sect ion 49 4 2 tax on the distributable am o u n t of an y year in t h e bas eperiod? Q Yes EX-1 N o

If Yes, the o rga n izat ion d oes not qualify un der se ction 4940(e ) Do not com plet e t his p art1 Ente r the appropriate amoun t in e a ch colu mn for ea c h year; see instruct ions bef ore makin g any entries

dBase period years

A djuste d qualifying (col . (b) divided b y col (c))

2002 10 922,285 . 71,319,953 . .15314492001 10 309 650 . 89 640 298 . .11501132000 10 770 727 . 112 296,210 . .09591351999 15,451,179 . 109,551 422 . .14104041998 16,999,338 . 107,073,681 . .158763 0

2 Total of li ne 1 , colu m n (d )

3 Av erag e dist ribut ion r at io f or the 5 -yea r bas e period -divide the total o n line 2 by 5 , o r b y the n umb er of y ea rs

the fou n datio n has b een in exis te nc e if less tha n 5 yea rs

4 Enter the net va l u e of n o nch antabl e-u s e a ssets fo r 2003 fr om Part X , line 5

5 Multiply line 4 by lin e 3

6 Enter 1 % of net inve stm ent income ( 1 % of Pa rt I, li n e 2 7 b )

7 Add lines 5 a nd 6

2 .6638731

3 .1327746

4 70 509 251 .

5 9,361,838 .

S 24,432 .

7 I 9,386,270 .

8 Enter qualifying d istr ibut ions fr o m Pa rt X II, lin e 4 1 8 6,980,344 .

If li ne 8 is equal to o r g reate r than line 7 , c heck the box i n Part V I , lin e 1b, and c ompl ete that pa rt using a 1 % tax rat eSee the Pa rt VI inst ructi ons .

323521n 2-05- 03 Form 990-PF (2003 )

SLAT FOUNDATION 38-24768Income

Form 990:PF (2003) ORVILLE D . & RUTH A . MERILLAT FOUNDATIOPart ut Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 41a Exempt operating foundations described in section 4940(d)(2), check here ► 0 and enter 'N/A' on line 1

Date of ruling letter (attach copy of ruling letter If necessary-see Instructions )b Domestic organizations that meet the section 4940(e) requirements in Part V, check here ► Q and enter 1 %

of Part I, line 27b

c All o ther domes t ic organiza tions en ter 2 % of line 27b E xem pt forei g n organizat ions enter 4 % of Part I, li ne 12 , col (b )2 Tax un d er section 51 1 ( d o mest ic sec t ion 4 9 4 7(a)(1) t rus ts and t axa ble fou nda tions only O t hers enter -0-)3 Add lines 1 an d 2

4 Subt itle A (income) t ax (d o m estic sect ion 49 4 7(a)(1) trusts an d taxable f oun d a tio n s only Others ente r -0- )5 Tax based on I nvestment Income . Su b tract line 4 f rom line 3 If zero or less, enter -0 -6 Credits/Payment s

a 20 03 estimat ed ta x p aymen ts an d 2002 over p aymen t credited t o 2003 6ab Exempt foreign organizations - tax withheld at source 6bc Ta x paid wi th applica t io n f or e xtens i on of ti m e t o file (Form 8868 ) 6c

d B ack u p wit h holdi ng e rro n eously wit hh eld 6d7 T otal cred its a nd pay ments . Add lin es 6a t hrou gh 6 d

8 E nte r any penally fo r u nd erpay m e nt o f e s tima ted tax Ch ec k h ere = if Form 22 20 is attached9 Tax due . If the total of lines 5 and 8 is more than line 7, enter amou n t owe d

10 Overpayment . I t line 7 is more th an the to tal of lines 5 an d 8 , ent e r the amount overpai d11 En ter th e a mount of li ne 1 0 to b e Credited to 2004 estimated tax ► 1

Activities

0 .5 .0 .

48,865 .

30,000 .

35,000 .

65,000 .

6 , 135 .1 Refunded ►5 .0 .

la During the tax year, did the organization attempt to influence any national, state, or local legislation or did it participate or intervene inany political campaign ?

b Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see instructions for definition )

If the answer is "Yes" to 1 a or 1 b, attach a detailed description of the activities and copies of any materials published ordistributed by the organization in connec ti on with the activities.

c Did the organization file Form 1120-POL for this year s

d Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the yea r

(1) On the organization ►$ 0. (2) On organization managers ►$ 0.

a Enter the reimbursement (if any) paid by the organization during the year for political expenditure tax imposed on organizationmanagers .►$ 0.

2 Has the organization engaged in any activities that have not pre viously been reported to the IRS?

If " Yes, " attach a detailed descrip tion of the activities3 Has t he o rga niza tion m a d e a ny c hange s, n ot pre viously reported to the IR S, in its go ve rning ins tr um ent , a rticles o f incorpo ra t ion, or

bylaws, or ot h er sim ilar inst rumen ts If " Yes, " a t tach a confo rmed copy of the changes4a D id th e or g aniz ation h ave unrelat ed b usiness g ross inc om e of $1 ,000 or more d uri ng t he years

b It *Yes,' has it filed a tax return on Form 990 -T for this years . . N/A

5 Was th ere a liq u idat io n, te rm ination, diss o lu tion, or subs ta n ti al contrac tio n during t h e year?If "Yes, " attach the statemen t required by General Instruction T.

6 Are the require m ent s of s e ct io n 508 ( e ) ( re lat ing t o sect ions 4941 th ro ugh 4945 ) sa tisf ied e it her• B y la ngu age'm the g ove r n ing ins t rume n t o r• B y s tat e leg islation that effe ct iv e ly amends the g ove rni ng i nst rumen t so that n o ma nd a tory d irect io n s that co nflic t w ith the state law

rema in i n the g overning instrument ?7 D id the o rganizati on hav e at l east $5 , 0 0 0 in assets at a n y ti me d u ring th e y ea r?

If " Yes," complete Part 11, col. (c), and Part XV.

8a E nter the s tate s to wh ich the fo un dation rep orts or with wh ic h it is reg iste red (see i nst ruc t io n s)MICHIGAN

b If th e an sw er is'Yes 't o line 7 , has the o r ga nizati on furn i shed a copy of Fo r m 990- PF t o th e Attorne y Gene ra l ( or de sign ate )of ea ch st ate a s required b y Ge n e ra l In st ructio n G? If "No," attach exp lanation

9 Is the o rg a n izat ion cl a i min g stat us as a private op erat ing f o u n d at ion with i n the m ea n in g of se ct io n 4942 (j)(3 ) o r 4942 (j)(5 ) for ca le nd aryea r 200 3 o r t he taxa bl e year b eginning i n 2003 (see ins t ructi o ns f or Pa rt X I V )9 If "Yes," comp le te Part XIV

10 D i d a ny pe rso n s be co me su bs ta ntia l c o ntribu t o rs du ring the ta x yea rs If 'Yes," attach a schedule l isti ng thei r names and addresses

11 D i d the organ izatio n c omply w ith th e public insp e ct ion requirements f or i ts an n ual re tu rns and exemptio n application ?

Web site address ► N/A

48,865 .

NoXX

X

X

XX

X

X

X

XX

12 The books are in care of ► JOHN D . THURMAN Telephone no . ► (517) 265-5425l .ocatedat ► 8 10 RICHLYN DRIVE, ADRIAN, MI ZiP+4 ►4922 1

13 Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 - Check here . . ►Q

and enter the amount of tax-exempt interest received or accrued during the year ► ~ 13 ~ N/A

i23o~s-'act Form 990-PF (2003)

38-2476813or 4948 - see instrL

Form 990FF(2003) ORV ILLE D . & RUTH A . MERILLAT FOUNDATIONStatements He ,

File Form 4720 if any item is c hec k ed in the " Yes" column, unless an exception applies .

ch Form 4720 May B e

1 a During t he year did the orga nizat ion (eithe r direc t ly or ind i re ctly )

(1) E nga g e in t he sale o r exc h ange, or lea sin g of p rope rty with a d is q ualified person?(2) B orrow money f rom, lend money to, or otherwise extend cred it t o (or acce pt it from)

a disqualified person ?

(3) F urnish goods, services, o r facili t ies to (or accept t hem fro m ) a dis qu ali fi ed person(4) P ay com p ensa tion to, or pay or reimburse t he e xpenses o f , a dis q ua lifie d p erson( 5 ) Trans fer a ny income or assets to a d isqualified person ( o r m a ke any of ei ther available

for the be nefi t or u se of a d isq ualifi e d person)

38-2476813 Page s

Yes No

Yes 0 No

Yes EKI No

O Yes D NoD Yes D No

Yes OX No(6 ) Agree to pay money or p roperty to a government o fficial? ( Exception . Check "No'

if th e o rgan i zat ion agreed to m a k e a g ran t to or t o emp l oy the official f or a period aft e rte rmina tio n of g overnm ent s ervice , if termina ting wi thin 90 da ys .) . , Q Yes Q No

b If an y a nswe r is 'Ye s 't o 1a ( 1 )-(6), d id any o f th e acts fail t o q u a li fy unde r th e excep tions descri bed in Re g u lation s

sec tio n 53 4941 (d )-3 or in a curre nt notic e regard ing d isaste r assis ta n ce (see p age 1 9 of t he instructions)?Organizations relying on a current notice regarding disaster assistance check here

c D id the o rga n iza t ion en ga ge i n a p rior ye a r in a ny o f the acts described i n 1a , ot her th a n exce pte d acts, th at we re n o t correcte dbefore the firs t day of th e tax year beginnin g in 2003 ?

2 Taxes o n failure t o dis t ribute income (section 4 9 4 2) ( d oes not a pply for y ears the organi z at ion was a p rivate o p e rating fou n da tiond efin ed in sec tio n 4 9 42(j)( 3) or 4942 (j)( 5 ) )

a At the en d o f tax year 2003 , d id th e org ani zat ion h ave any und ist ri bute d i n c om e (lines 6d and 6e, Pa rt X III) for tax year(s) b eg innin gb ef ore 2003? Yes ~X NoIf 'Yes," list t he years ►

b Ar e t h ere any years lis te d in 2a for which the organization is not ap p lying the p rovisions o f sectio n 4 9 42 (a)( 2 ) (re lating t o in correctvaluation of asse ts) t o the ye a r's u nd is tributed income? (I f appl ying sect ion 4942 (a)(2) to all ye a rs list ed , answer *No" and attac hstat e m ent - see instr u ct ions.) _ N/A

c If the provisions o f sec tio n 4 942 (a)(2) are b eing ap plied to any o f the y ea rs liste d in 2 a, lis t the years h ere

3a Di d th e o rganization h o ld more th an a 2 % d irect or indire c t in terest in an y business en terp rise at any t imed u rin g the years _ Q Yes EKI No

b If "Yes," d i d it have excess bu siness h oldings in 2003 as a res u l t of (1) any pu rc h ase by th e organization or d isq ualified persons aft e rMay 26, 1969, (2) t he la p se o f the 5-yea r p eriod (o r lo nger pe riod a pp roved by the Commissio n er u nd er sectio n 4943(c)(7)) to disposeof ho ld ings acquired by gift or b e q uest , or (3) t he lapse of the 10 -, 15 -, or 20-ye a r f irst p has e holdin g period'? (Us e S ch edule C,Form 4720, to determin e if the organization had exce ss business holdings in 2003) N/A

4a D id t he organization invest d uring the year any amo u n t in a ma nner th a t would jeop a rd iz e i t s ch ari ta b le p urposesb D id the organization ma k e any inve s tment i n a p rior ye ar ( but after De cembe r 3 1 , 19 69) t ha t could jeopard ize its charitable purp ose that

h ad n ot b een removed f rom jeo pa rdy b ef ore the first day of the tax y ear b e g inn ing in 2 0035a D urin g the yea r did t h e org ani z at ion pay or incur any amo un t t o

(1) Carry on propagan da , o r o t h er wise attempt t o inf lu en ce l e gislat ion (s ectio n 4945(e))9 Yes ~X No(2) Inf lue nc e th e outcome of an y specific public e lect io n (s ee sectio n 4955 ) ; o r to c a rry on, d ire ct ly or indire c t ly ,

a ny vo ter re g is t rat io ndrive? El Yes FRI No(3) P rovid e a g ra n t to an in dividua l for t ravel, stud y, or oth e r s im il ar purposes? Q Yes Q No(4) Provide a g ran t to an o rga n i z at ion o the r th an a c haritable, etc ,organ iza tion d escribed in sectio n

509 ( a )( 1 ), (2 ), or ( 3), or sect ion 494 0( d )( 2)? E= Yes M No( 5) Provide for a n y pu rpos e othe r than religious, cha rita b l e , scie ntific, lite rary, or edu cat io n al pu rposes, o r fo r

th e pre ve nt io n of cru e lty to c h ildren o r animals? . . D Yes EKI Nob If an y answe r is 'Yes* to 5 a ( 1 )-(5 ), did any of the t ransact io n s fail to qualify unde r th e e xc ept ions d escri be d in Reg ul at io ns

section 53 4945 or in a current notice regarding disaste r assistance (see instructions)? N/AOrg a n i zat io n s re lyi ng o n a cu rre nt n ot ic e regard ing d isaster a ssistan ce c heck h ere 10- 0

c I f the an swe r is 'Yes' to que st io n 5a( 4 ), doe s the org anizatio n cla i m exempt ion from the ta x be ca use i t mai ntain ed

X

X

X

X

expend it ure r es po nsi b ility for thegrant? N/A Q Yes El NoIf " Yes, " attach the stateme n t required by Regulations section 53 . 4945-5 (d9 .

6a D id the organization, duri ng the year, rec eive a ny fu nds, d irect ly or i nd ire ctly, to pay p rem ium s ona pe rsona l benefit c o n tracts _ Q Yes ~X No

b Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contracts 6b XIf you ans wered " Yes " to 6b, also file Fo rm 8870.

Form 990 -PF (2003 )

32354112 -05-03

ORVILLE D . & RUTH A . MERILLAT FOUNDATION 38-2476813

I nformation About Officers, D i rectors, Trustees, Foundation Man agers, H ighly Paid Employees, and Contractors

1 L ist all officers, directors , trustees, foundat i on managers and thei r compensation :

(b) Title, and average (c) Compensation (d~cono+eueonsto (e) Expense(a) Name and address hours per week devoted (I f n ot pa id , emp aytldheenians account, other

to position enter -0-) compensation allowancesRUTH A . MERILLAT RESIDENT, SECRETAR Y860 RICHLYN DRIVEADRIAN, MI 49221 ART 0. 0. 0 .RICHARD D . MERILLAT ICE PRESIDENT, DIRECTOR2600 GORDON DRIVENAPLES, FL 34102 ART 0. 0. 0.JOHN D . THURMAN TREASURER810 RICHLYN DRIVEADRIAN. MI 49221 ART 0. 0. 0 .

2 Compensation of five highest - paid employees (other than those included on line 1) . If none , enter "NONE."

(b) Tit le an d averag e(a) Name and address o f each employee paid more than $50,000 h ours per week (c) Compensation

devoted to osition

NONE

tnI (e) Expenseaccount, othe r

allowance s

Total n um b er of oth er employees paid over $50,000 ►3 Five highest - p aid independent contractors for professional se rvices . If none, enter "NONE . "

(a) Name and address of each person paid m ore tha n $50,000 (b) T ype o f se rv ice

MERRILL LYNCH TRUST COMPANY FS B INVESTMENT

P .O . BOX 1525 PENNINGTON, NJ 0853 4 MANAGEMENT

Total numbe r of oth ers re c e iwnn ove r $50,000 f or p rofessio na l se rvic es

List the foundation 's four largest direct charitable activit ies during the tax year. Include relevant statistical in formation such as thenumber of organizations and other beneficiaries se rved , conferences convened , research papers produced , etc .

t N/ A

2

3

4

110.

0

(c) Compensat io n

559,886 .

Expens e s

Form 990 -PF (2003)

Form 990 ;PF (2003) ORVILLE D . & RUTH A . MERILLAT FOUNDATION 38-2476813

Summary of Program -Related Inve stments

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 21 N/ A

2

All other program-related in v estme n ts See in st r uctions

3

Total . Ad d lines 1 th rough 3

P Xi Minimum Investment Return (Al l domestic foundations must complete this pa rt . Fore i gn foundat ions , see instructions . )

1 Fair market value of assets not used (or held for use) directly in carrying out charitable, etc , purposes :a Average monthly fair market value of securitie s

b Average of monthly cash balances

c Fair market value of all other assets

d Tot a l (add lines ya, b, and c) _

e Reduction claimed for blockage or other factors reported on lines la an d1c (attach detailed explanation) _ le

2 Acquisition indebtedness applicable to line 1 asset s3 Subtract line 2 from line 1 d

4 Cash deemed held for charitable activities Enter 1 1/2% of line 3 (for greater amount, see instructions)5 N et value o f noncharita ble-use a ssets . Subtract line 4 from line 3 Enter here and on Part V, line 46 M inimum Investment return . Enter 5% of line 5

P~ ~ Distributable Amount (see instruct ions) (Sect ion 4942 (j)(3) and (j)(5) p rivat e oper ating f oundations and certainforeign organizations check here ► = an d do no t comple te th is part )

1 Minimu m invest m e nt re turn from Part X , line 6 _

2a Tax o n i nve stm ent income for 20 0 3 fro m Par t VI, line 5 2a

b I nco me tax f or 2(103 (Th is does not inclu de th e tax f rom Pa rt VI) 2bc Add lines 2a a n d 2b

3 D istribu table amoun t before adjust ments Sub t ract line 2c from line 14a Recoveries o f am ounts trea ted as qualifyin g d is t ribu t ions 4a

b I n come d is t ri butions f rom s e ction 494 7(a)(2) trusts 4b

c Ad d lines 4 a a n d 4 b5 Ad d li ne s 3 a n d 4 c

6 De d u ction f ro m dis tributable amou nt (see inst ruc tions )7 Distributable amount as a d j us ted Subt ract line 6 from line 5 E n te r here a nd o n Par t XIII, lin e 1

#~~rt 1 Qualifying Distributions (see instructions)

66,149,383 .5,433,613 .

71,582,996 .

Amo u nt

0 .71,582,996 .1,073,745 .

70,509,251 .3,525,463 .

3,525,463 .

48,865 .3,476,598 .

0 .3,476,598 .

0 .

1 Amou nts pa id (inclu d in g adm inis t ra tiv e expen ses) t o acc ompl is h c ha ritabl e , e tc , purpose sa Exp e n s es, contributions, gifts, etc - total from P art I, colu mn (d), line26 1 a 6 , 9 8 0 3 4 4 .

b P ro gram-re lated i n ve stment s - Total f ro m P art I X -B 1 b 0.

2 Amou nts pai d to acquire assets use d (o r held f or us e ) d irec tly i n ca rryi ng out charita bl e , etc , purposes 2

3 Amou nts s et asi de for s p ecific c h arita b le pr oject s th a t s at is fy t h e .a Suitability tes t ( p rio r I R S approval required) _ 3ab Cas h dist ributio n t es t (attac h the required schedule) 3 b

4 Qualifying distributions . Add lines la th rough 3 b Enter he re a nd on Part V, line 8 , and Part XII I , line 4 4 6,980,344 .

5 Orga n izatio n s that qu alify und er se ct ion 4 9 40 (e) fo r the red uce d rate o f tax on ne t inve st me nt

income . E nter 1 %. of Pa rt I, line 27b 5 0.6 Adjusted qualifying d is t r i b u ti ons . Subtract line 5 from line4 6 6r980,344 .

Note : The amount on line 6 will be used in Part V, column (b), in subsequen t years when calculating whether the foun dation q ualifies for the section4940(efteaduc tion o f tax in those years.

Form 990 -PF (2003 )

0 .

48,865 .

0 .

32356112-05-03

Form 990 - PF (2003) ORVILLE D . & RUTH A . MERILLAT FOUNDATION 38-2476813

#~~`t 1! Undistributed Income (see instructions )

(a) (b) WCorpus Years prior to 2002 2002

(d)

200 3

1 Distributable a m ou n tfor 2003 f ro m Part X I, line 7

2 Und istri buted Income, if any, as of the end of 2002

a E nt er amount for 200 2 onl y

b Total for prior yea rs .

3 Excess dist ribut ion s ca rryover, if an y, to 2003

a From 1998 11,751,772 .b From 1999 10 28 5 1 46 .c From 2000 5,388,058 .dFrom 2001 5,849,046 .e From 2002 7,371,237 .f Total of lines 3 a th rough e

4 Qualifyin g distri b u tio n s for 2 003 f ro m

Part X II, line 4 ► , $ 6,980,344 .

a Ap p li ed to 20 0 2, b ut n ot m ore than line 2 a

b Ap pli ed to u ndis tri buted income of prior

ye a rs (Election req uired - see i n structions)

c T reat ed as d ist rib u t ions ou t of corpu s

(Election r equired - see in s t ru ctions)

d Applied to 2003 distributable amoun t

e Re maining a m oun t d istributed out o f corpus

5 Excess distributions carryover applied to 2003Of an amount appears in column (d), the same amountmust be shown In column ( a) )

6 Enter the net total of each column asi nd i cated be l ow :

a Corpus Add li nes 3f. 4c, and 4e Subtract line 5

b P rio rye ars' u nd is tri b uted inco me Su b trac t

line 4b f rom line 2 ?bc Enter t h e a m oun t of p rior ye a rs'

u n d istribu ted i ncom e for wh ic h a n ot ice ofdefici ency ha s been issu ed , or on w h ichthe sect ion 4942 (a) tax h as be e n previouslyassesse d

d Subt ra ct line 6c fro m li n e 6b Taxabl e

amount - see instruction s

e Undis tribute d i n co me fo r 2002 Subt ract line

4a f rom line 2a Taxable am oun t - see inst r

1 Undistributed income for 2003 . Subtract

li n es 4d a nd 5 from line 1 Th is a mo unt must

be d ist ri bute d in 2004

7 Amou nts trea ted as d ist rib utio n s o ut of

co rpu s t o satis fy r equ ireme nts im p osed by

s ection 1 7 0 ( b )( 1 )( E ) or494 2(g )(3 )

8 Excess distributio n s carryover from 1998

not app lied o n line 5 or line 7 _

9 Excess distributions car ryover to 2004 .

Subtract lines 7 and 8 f rom line 6a

10 An alysis of line 9

a Ex ce ss fro m 1999 10,285,146 .b Excess from 2000 5,388,058 .c Excess from 200 5,849,046 .d Excess from 2002 7r371,237 .e Excess from 2003 6,980,344 .

323571

0 .

40,645,259 .

0 .

6,980,344 .

0 .3,476,598 .

44,149,005 .

0 .

0 .

0 .

3,476,598 .

0 .

476,598 .

0 .

0 .

0 .

8,275,174 .

35,873,831 .

Form 990 -PF (2003)

ORVILLE D . & RUTH A . MERILLAT FOUNDATIONperating Foundations (see instructions and Part VII-A, question 9) N

1 a If th e f oun d at ion has receive d a ruling or dete rmina t ion l ett er t ha t it is a private opera tin g

f oundat ion, and the ruli n g is e ffective f or 2003, e n te r th e d a te o f the ruling lo.b C h eck box to indicate whe ther the orga niz a tion is a privat e o p erat ing foundation desc ri bed in s ectio n

2 a E n te r th e lesser of the adj uste d net T ax year

income f rom P art I or the mi n imum (a) 2003

investment re tu i n f rom P art X fo r

each year listed

b 8 5% of line 2 a

c Qualifying distributions from Part XII,

line 4 for ea c h year lis te d

d Am o u n ts incl u ded in line 2c not

used d ire ct ly fo r act ive con du ct o f

exem pt activit ies _

e Qualifying distri butions made directly

for act ive condu ct ofex em p t activi tiesSu bt ract line 2d fro m li n e 2 c

3 Complete 3a , b, or c f or theal t ernative te s t relied upon-

a 'A sset s' alte rn ative te st - enter(1) Value of a ll asse ts

(2 ) Value of assets qualifyingunder section 4942(j)(3)(0)(i)

b 'End owme ntal

te r n at iv e test - Ente r2/3 of minimum investment returns h own in Pa r t X , li ne 6 for e ach yearlis te d

c "Supporr alte rnative test - enter :

(1) Tot al s uppo r t o th er th an grossinvestment income (interest,dividen ds, rents, p ayments onsecurities'loans (section512(a)(5)), or royalties )

(2 ) Suppor t from general publica n d 5 o r m o re e xemptorganizations as provide d insec tio n 4 942 (j)(3)( B )(ui )

(3) La rge s t am oun t of su pport from

an exe mpt organization

P ri or 3 ye a rs(b) 2002 (c) 200 1

Supplementary Information (Complete this part only if the organization had $5,000 or more in assetsat any time during the year-see page 25 of the instructions. )

1 Information Regarding Foundation Managers :

a L is t any man ag ers o f the fo und a tio n wh o hav e co ntri b uted mo re than 2 % o f t he to tal con tri b ut ions re ceived by the found a t ion befo re the close of any taxyea r (but only i f they h ave con t ributed m o re t ha n $5 ,000 ). (See s e ct io n 507(d )(2) )

RUTH A . MERILLATb List an y managers of the fo u nd at ion w ho ow n 10 % or m ore of th e st oc k of a corp ora tio n (or a n eq ual ly l a rge p or t i o n of the ow ne rs h i p of a pa rtn e rship or

othe r ent ity) of w hic h the fou n d at ion has a 10 % or g reater inte res t

NONE2 Information Regarding Contribution , Grant, Gift, Loan, Scholarship , etc., Programs:

Chec k here 10, [:X:j if the orga nization on ly make s cont ri butio ns to p res e lect ed charitab le o rga nizat ions and does not a ccept u nso licited reque st s for fund s Ifthe o rgan i zati on makes g ift s, g rant s, etc (s ee instru ct ions) to in d ivid uals or org anizatio n s und e r other c ondit ion s, c omplete i te m s 2a , b , c, and d .

a The name, add ress, a nd te lepho ne nu mber of th e pers on to whom app lic at io ns sh ou ld be add re ss ed '

b The form in which applications should be submitted and information and materials they should include :

c Any su bm issio n d ead li nes

d Any restrictions or limitations on awards, s uc h as by g eo g raph ical a re as, c ha rit able fields, k in d s of in s titut ions, or o ther fa ctors

38-2476813A

)(3) or Q 49426)(5)

(d) 2000 (e) Tota l

323e 81/01 -20-04 Form 990-PF (2003)

323601/1 2-05-03 Form 990 -PF (2003)

Form 990-PF (2003) ORVILLE D . & RUTH A . ME R ILLAT FOUNDATION 38-2476813 Pa pe 11

~~fi't ,7 C1t (4 Ana lysis of Income -Producing Ac t i vit i es

Unrelated bus in ess income Excluded by sect ion 512, 513, or 51 4E nte r g ross a mo u nt s unless otherwise indicated (e )

(a) (b) E19. . (d) R elat ed or exem ptB usiness Amount ode A mount func tion income

1 P ro g r am se rvice rev enue code

a

b

c

d

e

f

g Fe es an d cont ract s f rom government agencie s

2 M embe rs h ip d ues and assessments

3 In terest on savings and temporary cash

investments 1 4 28,181 .

4 Dividends and int erest f rom securit ies 14 639,141 .

5 Ne t rent al inco m e or (loss) from real es ta te

a De bt-finance d p roperty

b N ot debt -fina n ced p roperty

6 Ne t renta l incom e or (loss) f rom personal

p ro per ty

7 Othe r investm e nt incom e

8 Gai n or (loss) f ro m sales of assets ot he r

than inventory 18 2,381,408 .

9 Net income or (loss) from special event s10 Gros s profit o r (loss) f rom sales of inv e nt ory

11 Othe r revenu e

ab

C

de

12 S u bt ota l . A d d colu mns (b), (d), and (e) 0 . 3,048,730 .1 0 .13 Total . Add line 1 2, columns (b), (d), an d (e) 13 3,048,730 .

(See wor k sheet m line 13 instructions to verify calculati on s

I Pad XYt -B Relationship of Activities to the Accomplishment of Exempt Purposes

Form 990•pF (2003) O RV I LLE D . & RUTH A . MERILLAT FOUNDAT I ON 38-2476813 P ?I'll Information Regarding Transfers To and Transactions and Relationships With Noncharitable

Exempt Organization s

o f

D i d the organiza tion d irect ly or ind irec tly enga g e in any of t he following wi th a n y oth er o rganiza tion describe d in section 50 1 (c) of

t he Co de (oth er than sect ion 50 1 (c)(3) org anizations) or in se ctio n 527, rel ati ng to political org a n izations

T ransf ers f rom th e report ing organizat io n to a noncharitable exempt organi z at ion of(1) Cas h

(2) Othe r ass ets

Oth er t ransaction s

(1) Sales of a ssets to a noncharitable exempt organization 1 b(l)(2) Pu rch ases of asse ts from a noncharitable exempt organizat ion 1 b(2)(3 ) Rental of facilities, equipment, or other assets 1 b(3)

( 4 ) Reimbursement arrangements 1 b(4)

(5) L o a ns or loan guar a ntees 1 b(5)

(6) Pe rformance of services or m emb e rs h ip or fundraisin g solicita tions 1 b(6)

S h ari ng o f facilities, equipment, mailing lis ts, o ther asse ts, or paid employee s 1 cI f the a nsw er to any of t he abov e is 'Yes ; compl ete th e f ollowin g sched ul e . C olumn (b ) s h ould always s h ow the fair mark et value of th e g oods, o ther a ssets,or service s g iven by the reportin g organiz at ion If t h e org anizatio n rece iv ed less tha n fair m arket value in any tran saction or s haring arra n geme n t , s h o w incolumn (d) the value of t he goods, othe r a sset s, or services re ceive d

Name o f

SIX`O

am ya` 0

pe of ofN/A

o f

d ecla re that I h ave exa min e d this retu rn, Inclu d ing accompanying schedules and stateme n ts, and to the bes t of my knowledge and belief, It is true, correctkp reparer (other than taxpa y er o r fiduciary) Is based on all Information o f which pre parer has any knowledge

of officer or trustee

Prepuer' ssignature ' /-Z-~

Arm's name (or yours DELOITTE TAX LL Pif self-erro ioyec)

, ,101 N . MAIN ST . , 6TH FL

aom~,andZlP code ANN ARBOR, MI 48104-141

No

XX

XXXXXXX

32362 112-05-0 3

2a Is the org anization d irect ly or indir ec tly aff ilia te d wi th, or re lated to, o ne or m ore tax- exe mp t org aniza tions describ ed

in sect io n 501 (c) o f the Code (othe r than s e ct ion 501 (c)(3)) or i n sect io n 527 = Yes [XI N o

ORVILLE 'D . & RUTH A . MERILLAT FOUNDATION~~ JV 1 Cap ital Gains a nd Losses for Tax on Investment Incom e

( a ) List and describe the kind(s) of property sold, e g ., real estate,2-sto ry brick warehouse ; or common stock, 200 shs MLC Co

1a SEE ATTACHED STATEMENT - 656-04J0 6

b SEE ATTACHED STATEMENTcSEE ATTACHED STATEMENTd TELEFONICA SA SPAIN - RETURN OF CAPITALe 100 SHS AMERICAN WOODMARKt450 SHS YORK INTL

h

k

n

b

c

d

e

f

9

h

(a) Gross sales pric e

912,427 .35,885,466 .

8,265 ..1,25 6

3,825 .9,720 .

(i) Dep reciation allowed(or allowable)

CONTINUATION FOR 990-PF, PART IV38-2476813 PAGE 1 OF 1

rurci- D o n a

PPPPPP

(c~ Date acquired (d) Date s oldm o , day, yr .) (m o , da y, yr )

VARIOUS VARIOUSVARIOUS VARIOUSVARIOUS VARIOUSVARIOUS VARIOUSD9/06/0203/ 0 1/0312/11/0203/01/0 3

(g) C os t or o th er ba sispl u s expense of sal e

1,504,102 .32,910,939 .

8,156 .

4,944 .11,410 .

,974,527 .109 .

1,256 .<1,119 .><1,690 . >

k

n

Complete only fo r assets showing gain in column (h) and owned by the foundation on 12/31/69 (1 ) Losses (from col (h) )

(j) Adjusted basis (k) Excess of col . (i) Gains (excess of col (h) gain over col (k ),(i) F .M V as of 12/31/69 as of 12/31/69 over col (1), ifany but not less than '-02 )

a

e

<591,675 . >2,974,527 .

109 .1,256 .

<1,119 .><1,690 . >

k

n

0

2 Ca ital ain net income or net ca ital loss r If gain, also enter in Part I, line7

P 9 ( P ) l It (loss), enter'-0= m Part I, line 7 f

3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6) .If gain, also enter in Part I, line 8, column (c)If (loss), enter °-0=' in Part I, line 8

323591OS-01 -03

( h) Gain or (loss)( e ) p lus ( f ) minus (g )

2,381,408 .

N/A

ORVILLE D . & RUTH A . MER I L LAT FOUNDATIO NGAIN/LOSS FROM S ALE OF ASSE TS - ACCOUNT 656-04J06FORM 990- P F Y EAR ENDING 2/2 9/200 4

DESCRIPTION OF PR O P E R TYMANNER DATE DATEACQUIRED ACQUIRED SOLD PROCEE DS

1 62000 PAR I NTL C ABLT L I N C3800 0 PAR NTL CO MM CORP 1 1 .5%1 53000 PAR N TL I N C 1 0% 2/15/071 24000 PAR NTL I N C48 000 PAR ENTERCOM RAD I O/CA 7 .62%75000 PAR VST R W I RE CON STR WR HLD184000 PA R VSTR WI RE CONST 10 . 37%229000 PAR G B TELEWEST C O MM457 SHS IC G CO MMUN ICAT ION S I NC3749 SH S NTL INC38000 PAR L I BERTY GROUP 9 .37%9 5 SHS IC G CO MMUNIC ATI ONS INC47 SHS IC G CO MMUNIC ATI ONS INC97 SHS WT06 071CG COM MN CT NS INC1 2 4000 PAR U S TREAS URY BO N D96000 PAR U S TREAS UR Y BOND 5 .375%9 8 000 PAR U S T REAS URY BOND 4 .625%3 SHS PTV I N C

TOTAL LOSS ON SALE OF ASSETS

PURCHASEPURCHASEPURCHASEPURCHASEPURCHASEPURCHASEPURCHASEPURCHASEPURCHASEPURCHASEPURCHASEPURCHASEPURCHASEPURCHASEPURCHASEPURCHASEPURCHASEPURCHASE

VAR IOU SVARIOUSVAR IOU SVAR IOU S

7/2/20027/2/20027/2/20027/2/200 2

VAR IOUSVAR IOU S

7/2/200 2VAR I OU SVAR I OU SVA R IOU S

7/2/20027/2/20027/2/20027/2/2002

5/5/20035/5/20035/5/20035/5/20036/4/20036/3/20036/3/20036/3/2003

6/19/20036/19/200310/9/20039/26/20039/26/20039/26/20032/6/20042/6/20042/6/2004

2/13/2004

0 970 .220910 .7 4

51816 .3373500 .00

2 11 793 .5 86641 0 00

2559 .0 81 33582 .9833250 .0 0

660 .21326 .6 4

0 .0 012 8983 .8 510 4583. 911 0 4 94 6.5 2

1 1 .30

BASIS

1 52625 .0039653 .00

156983 001 0386 4 .004818 2 .2857381 50

18 7322 .25228323 .39

0 .0018 3254 .0038708 .73

0 . 000 . 000 . 00

11395 1 .989377 1 .67

100081 .590 . 00

38 -247681 3

GAIN/(LOSS)

- 1 52624 .03-39652 .78

- 1 5698 2 09- 1 03 863.26

3634 .051 6 118.502 4 47 1 .33

- 1 6 1 9 1 3 .39255908

-4 9 67 1 .02-5 458 73

660 2 132 6 .64

0 .001 5 03 1 .8710812 . 24486 4 .93

11 .30

9 1 2,427 . 24 1 ,50 4 , 1 02.39 (59 1 ,675. 1 5)

STATEMENT I

ACCT H268 656D4000 MERRIL~ LYNCH TRUST COMPANY FSB PAGE 256FROM 03/01/2003 • STATEMENT OF CAPITAL GAINS AND LOSSE STO 02/29/2004 ORVILLE & RUTH MERILLAT FDN RUN 06/04/2004

TRUST YEAR ENDING 02/29/200 4

TAX PREPARER: EXETRUST ADMINISTRATOR : MG1INVESTMENT OFFICER :, CBH

PROPERTY DESCRIPTION SHARES DATE-------------------- ------ ----

3973 .0000 MAKHTESHIM AGAM IND - 00009107 1SOLD 06/04/2003AC 3973.0000 07/11/2002

"CHANGED05926/04 BML500 .0000 AXFOOD AB - 000091P6 8

SOLD 05/15/2003AC 500.0000 11/13/2002

**CHANGED** 05 26/64 BML700 .0000 AXFOOD AB - 000091P68

SOLD 05/30/2003ACQ 700.0000 11/13/2002

**CHANGED** 05/26/04 BML12700 .0000 ABX AIR INC - 00080S10 1

SOLD 11/28/2003ACQ 12700.0000 08/18/2003

22300.0000 ABX AIR INC - 00080S10 1SOLD 12/01/2003ACQ 22300 0000 08/18/2003

5300 .0000 AFLAC INC - 001055102SOLD 06/17/2003ACQ 5300.0000 11/07/2002

10200 0000 AFLAC INC - 001055102SOLD 07/22/2003ACQ 10200 .0000 11/07/2002

825 .0000 AMN HEALTHCARE SVCS INC - 00174410 1SOLD 04/04/2003ACQ 825.0000 09/11/2002

1025 .0000 AMN HEALTHCARE SVCS INC - 00174410 1SOLD 10/16/2003ACQ 75.0000 09/19/2002

950 0000 09/11/200 2380 .0000 AARON RENTS INC 5OCTS GA - 002535201

SOLD 07/09/2003ACQ 80.0000 09/06/2002

300.0000 09/06/2002775 0000 ACCREDO HEALTH INC - 00437V104

SOLD 1 08/26/2003ACQ 775 0000 09/11/2002

300 0000 ACTU,4NT CORP CL A - 00508X203SOLD 06/11/2003ACQ 100.0000 05/19/2003

100 0000 10/15/200250 0000 09/06/200250 0000 09/06/200 2

550 .0000 ACXIOM CORP COM - 005125109SOLD , 05/09/2003ACQ 550 0000 12/11/200 2

600 .0000 ACXIOM CORP COM - 005125109SOLD 06/06/2003ACQ 600 0000 12/11/2002

4300 .0000 ADVO SYSTEMS INC COM - 007585102SOLD 06/25/2003ACQ 4300 0000 10/03/2002

100 0000 ADVO SYSTEMS INC COM - 007585102SOLD 02/03/2004ACQ 100 0000 06/23/2003

100 .0000 ADVANCED MEDICAL OPTICS - 00763M108SOLD 12/18/2003ACQ 100.0000 07/09/2003



17000 0000 ADVNCD MICRO D INC - 007903107SOLD , 08/25/2003ACQ 17000 .0000 09/17/2002

33000 .0000 ADVNCD MICRO D INC - 007903107SOLD 08/27/2003ACQ 33000 .0000 09/17/200 2

70000 .0000 ADVNCD MICRO D INC - 007903107SOLD 10/14/2003ACQ 70000.0000 09/17/2002

6800 .0000 AFFILIATED COMPUTER SVCS INC - 008190100SOLD • 04/09/2003ACQ 4400 0000 12/17/2002

2400 0000 01/29/2003***ADDED*** 10/21/03 JEH

35000 .0000 AIRBORNE FREIGHT CORP - 009269101SOLD 08/18/2003ACQ 35000 0000 07/24/2003

400 0000 ALARIS MEDICAL SYSTEMS - 011637105SOLD 02/19/2004ACQ 400 0000 11/20/2003

LEGEND : F - FEDERAL S - STATE I - INHERITEDE - EXEMPT FR OM STATE U - A CQ COST UNKNOWN

SALES PR ICE COST BASIS GAIN/LOSS TERM----------- ---------- --------- ----

9932 . 509932 . 50

9736 . 809736 . 80

13 880.3013880 . 30

50162 . 6550162 . 65

88080 . 8788080 . 87

163536 .03163536 .03

320851 . 48320851 . 48

8627 . 698627 . 69

18450 . 001350 00

17100 00

10677 . 502247 . 898429 . 6 1

17303 241 7303 .24

12749 404249 804249 802124 . 902124 90

7830 . 047830 .04

9584 . 259584 . 25

190390 .78190390 78

3342 843342 . 84

1864 . 311864 . 31

5189 . 755189 . 75

5401 . 345401 . 34

173221 .89173221 .89

336584 . 24336584 24

946110 . 71946110 . 71

286962 . 88185681 . 86101281 . 02

800800 .00800800 .00

8820 188820 18

7982 . 47

9189 . 50

12865 . 30

20700 . 99

36349 . 01

164 319 . 07

3 16 2 36 .7 3

16788 .7 4

1 58 8 . 4 91 933 2 .5 1

1830 . 406864 00

26879 . 79

3988 003646 . 001902 . 501902 . 50

8106 06

8842 99

119724 4 7

2933 .07

1854 65

4636 .62

4636 .62

118343 .80

229726.19

487298 00

214426 .52124833 .12

755625 5 0

6135.59

1950 .03 POST-ST

547 30 POST - ST

1015 .00 POST-ST

29 46 1 .66 POST -ST

5173 1 .86 PO ST - ST

-783 . 04 POST- ST

4614 . 75

- 8161 . 05

-238 . 49-2232 51

417 . 491 565 . 6 1

-9576 5 5

261 80603 80222 40222 40

POST -ST

PRE-ST

LT1 5LT1 5

POST-STPOST-ST

POST-ST

POST-STPO ST-STPOST-STPOST-ST

-276 .02 POST-ST

741 26 POST-S T

70666 31 POST -ST

409 77 POST-ST

9 .66 POST-ST

553 .13 POST-ST

764 72 POST-ST

54878 .09 POST-ST

106858 .05 POST-ST

458812 .71 LT1 5

-28744 .66 PRE-ST- 23552 . 10 PRE - ST

45174 50 POST-ST

2684 59 POST-ST

ACCT H268 656D4000FROM 03 /01 /2003TO 02 /29/2004

TAX PREPARER : EXETRUST ADMINISTRATOR : MG1INVESTMENT OFFICER : CBH

PROPERTY DESCRIPTION--------------------

MERRILL LYNCH TRUST COMPANY FSB PAGE 257STATEMENT OF CAPITAL GAINS AND LOSSE SORVILLE & RUTH MER I LLAT FDN RUN 06 /04/2004

TRUST YEAR ENDING 02 /29/2004

LEGEND : F - FEDERAL S - STATE I - I NHERITEDE - EXEMPT FROM STATE U - ACQ COST UNKNOWN

SHARES DATE SALES PR I CE COST BASIS GA I N /LOSS TERM------ ---- ----------- ---------- --------- ----

100.0000 ALBANY INTL CRP NEW CL A - 01234810 8SOLD 01/30/2004 3249 .84ACQ 100.0000 03/05/2003 3249 .84

100.0000 ALBANY INTL CRP NEW CL A - 01234810 8SOLD 02/09/2004 3154 .85ACO 100 .0000 03/05/2003 3154 .85

100 .0000 ALBANY INTL CRP NEW CL A - 01234810 8SOLD 02/12/2004 3160 .85ACQ 100.0000 03/05/2003 3160 .85

4000 .0000 ALLERGAN INC - 01849010 2SOLD 11/25/2003 287859.72ACQ 4000.0000 09/04/2003 287859.72

1000 .0000 ALLIANCE DATA SYS CORP - 01858110 8SOLD 03/17/2003 15449 .53ACQ 550.0000 02/26/2003 8497 .24

450.0000 02/19/2003 6952 .29300 .0000 ALPHARMA INC - 02081310 1

SOLD 10/08/2003 5594 .73ACO 300.0000 04/16/2003 5594 .73

600.0000 ALPHARMA INC - 02081310 1SOLD 10/09/2003 11099 .48ACQ 150.0000 06/11/2003 2774 .87

50 .0000 05/29/2003 924 .96400 .0000 04/16/2003 7399 .65

100.0000 AMCORE FINANCIAL INC COM - 02391210 8SOLD 05/19/2003 2380 .14ACQ 100.0000 04/17/2003 2380 .14

800 .0000 AMCORE FINANCIAL INC COM - 023912108SOLD 06/02/2003 19230.77ACQ 350 0000 05/01/2003 8413 .46

450 .0000 04/17/2003 10817 .31100 .0000 AMERICAN HEALTHWAYS INC - 02649V10 4

SOLD 06/25/2003 3247 .70ACQ 100.0000 12/12/2002 3247 .70

400 .0000 AMERICAN HEALTHWAYS INC - 02649V10 4SOLD 09/24/2003 16973 24ACO 250 .0000 12/12/2002 10608 28

150.0000 12/19/2002 6364 .97825 .0000 AMERICAN MED SYS HLDGS - 02744M10 8

SOLD 12/23/2003 17821 .88ACQ 325.0000 12/27/2002 -7020 .74

425 .0000 11/25/2002 9180 .9775 .0000 05/22/2003 1620 .17

200 .0000 AMER MEDICAL SECURITY GRP IN - 02744P10 1SOLD 12/02/2003 4493 .00ACQ 200.0000 10/27/2003 4493 .00

200.0000 AMERICAN WOODMARK CORP - 03050610 9SOLD 03/03/2003 7902 .42ACQ 200.0000 09/06/2002 7902 .42

2300 .0000 AMGEN INC COM PV $0 .0001 - 031162100SOLD 04/21/2003 137265 .16ACp 2300.0000 01/16/2003 137265.16

"CHANGED" 10/21/U3 JEH4700 .0000 AMGEN INC COM PV $0 .0001 - 031162100

SOLD 12/11/2003 273872 .63ACQ 4700.0000 01/16/2003 273872 .63

5100 .0000 AMGEN INC COM PV $0 .0001 - 03116210 0SOLD 01/14/2004 325704 .41ACQ 100 0000 01/16/2003 6386 .36

5000 .0000 01/24/2003 319318 .05200 .0000 AMPFIENOL CORP CL A NEW AMPHENOL CORP NEW - 032095101

SOLD 12/19/2003 12551 .91ACQ 200.0000 09/06/2002 12551 .9 1

260 .0000 AMPHENOL CORP CL A NEW AMPHENOL CORP NEW - 032095101SOLD 12/22/2003 16340 .23ACQ 200.0000 09/06/2002 12569 .4 1

60.0000 09/06/2002 3770 .82600 0000 AMSURG CORP TENN COM - 03232P40 5

SOLD 12/24/2003 22714 .69ACQ 600.0000 09/11/2002 22714 .69

5300 .0000 ANADARKO PETE CORP - 032511107SOLD 07/08/2003 228500 .39ACQ 4500.0000 12/06/2002 194009 .77

800 .0000 12/17/2002 34490 .625400 .0000 ANADARKO PETE CORP - 03251110 7

SOLD 07/10/2003 236717 .36ACQ 2000.0000 12/17/2002 87673 .10

3400 .0000 01/30/2003 149044 .26330 .0000 ANALOGIC CORP NEW - 03265720 7

SOLD 10/10/2003 16273 .18ACQ 30.0000 09/06/2002 1479 .38

300 .0000 09/23/2002 14793 .80400 .0000 ANCHOR BANCORP WIS INC - 03283910 2

SOLD 11/25/2003 10113 .04ACQ 300.0000 06/06/2003 7584 .78

100 .0000 07/11/2003 2528 .26

2209 . 99

2210 . 00

2210 . 00

320570 . 40

8800 .007443 .00

5334 . 00

3262 . 501030 .507112 . 00

2299 . 23

8198 . 7210346 . 54

1884 .00

4710 002550 . 21

5340 . 016513 . 761145 . 10

4460 . 00

9888 . 01

120045 50

245310 . 40

5219 . 37260900 . 00

7584 . 00

7584 002275 . 20

18380 . 94

220146 . 3038800 . 00

97000 . 00155541 . 84

1296 0012299 . 70

7098 . 002595 . 31

1 039 . 8 5 POST -ST

944 . 85 POST-ST

950 . 85 POS T- ST

-32 7 1 0 68 POST - ST

-302 .76 PRE -ST-490 . 71 PRE -ST

260 7 3 POST -ST

- 48 7 . 63 POST -ST- 105 . 54 POST -ST287 . 65 POST - ST

80 .91 POST - ST

21 4 .74 POST -ST470.77 POS T -ST

1363 .70 POST-ST

5898 28 POST-ST3814 .76 POST-ST

1680 73 POST-ST2667 21 LT1 5475 07 POST-ST

33 .00 POST-ST

-1985 59 PRE-ST

17219 66 PRE-ST

28562 23 POST-ST

1166 .99 POST-ST58418 .05 POST-S T

4967 .91 LT15

4985 .41 LT151495 62 LT15

4333 75 LT1 5

-26136 53 POST-ST-4309 .38 POST-ST

-9326 .90 POST-ST-6497 .58 POST-ST

183 .38 LT152494 10 LT15

486 .78 POST-ST-67 .05 POST-ST

ACCT H268 656D4000 MERRILL LYNCH TRUST COMPANY FSB PAGE 258FROM 03/01/2003 STATEMENT OF CAPITAL GAINS AND LOSSE STO 02/29/2004 ORVILLE & RUTH MERILLAT FDN RUN 06/04/2004

TRUST YEAR ENDING 02/29/2004

TAX PREPARER : EXETRUST ADMINISTRATOR : MG1INVESTMENT OFFICER: CBH


400.0000 ANCHOR BANCORP WIS INC - 032839102SOLD 12/01/2003ACQ 400.0000 07/11/2003

1135 .0000 ANDREW CORP - 03442510 8SOLD 07/23/2003ACQ 1135.0000 12/11/2002

1350 .0000 ANDREW CORP - 03442510 8SOLD 07/23/2003ACQ 1350.0000 12/11/2002

1550 .0000 ANDREW CORP - 034425108SOLD 12/01/2003ACQ 1550 .0000 09/25/2003

100.0000 ANGELICA CORP - 03466310 4SOLD 12/30/2003ACQ 100.0000 10/22/2002

100.0000 ANGELICA CORP - 03466310 4SOLD 12/31/2003ACQ 100.0000 10/22/2002

100 0000 ANGELICA CORP - 03466310 4SOLD 01/05/2004ACQ 100.0000 10/22/2002

150.0000 ANGELICA CORP - 034663104SOLD 01/14/2004ACQ 150.0000 10/22/2002

100 .0000 ANGELICA CORP - 034663104SOLD 01/21/2004ACQ 100.0000 10/22/2002

200 0000 ANGELICA CORP - 03466310 4SOLD 01/22/2004ACQ 200.0000 10/22/2002

250 .0000 ANGELICA CORP - 034663104SOLD 01/26/2004ACQ 100 0000 11/11/2002

50.0000 10/22/200 2100.0000 11/11/2002

4000.0000 ANHEUSER BUSCH COS INC - 035229103SOLD 08/21/2003ACQ 880.0000 02/11/2002

3120 0000 11/07/20023880 0000 ANHEUSER BUSCH COS INC - 035229103

SOLD 08/22/2003ACQ 3880.0000 11/07/2002

50 .0000 APOLLO GRP UNV PHNX ONLN - 037604204SOLD 02/11/2004ACQ 50.0000 12/10/200 2

880 0000 APRIA HEALTHCARE GP INC - 037933108SOLD 06/11/2003ACQ 250 0000 01/06/200 3

30 .0000 09/06/2002200.0000 09/06/2002400.0000 09/06/2002

50 0000 APPLIED FILMS CORP - 038197109SOLD 07/24/2003ACQ 50.0000 06/11/2003

550 0000 APPLIED FILMS CORP - 038197109SOLD 10/15/2003ACQ 550.0000 06/11/200 3

725 0000 APPLIED MLCLR EVOLUTION - 03823E108SOLD 12/12/2003ACO 725 .0000 10/17/200 3

50 .0000 ARTISAN COMPONENTS INC - 042923102SOLD 05/20/2003ACQ 50,0000 11/25/200 2

1150 .0000 ARTISAN COMPONENTS INC - 042923102SOLD 05/29/2003ACQ 50.0000 01/17/200 3

150 .0000 12/11/2002950 .0000 11/25/2002

500 .0000 ATRIX LABS INC - 049621-101SOLD 06/06/2003ACQ 500.0000 09/11/2002

375 .0000 ATRIX LABS INC - 049621-10 1SOLD 08/21/2003ACQ 375 0000 09/11/2002

425 .0000 ATRIY, LABS INC - 049621-10 1SOLD 11/26/2003ACQ 425.0000 09/11/2002

2800 0000 AUTOiONE INC - 05333210 2SOLD 08/05/2003ACO 1700 .0000 05/27/2003

1100 .0000 06/03/200 3150 .0000 AVID TECHNOLOGY INC - 05367P100

SOLD 01/13/2004ACQ 150 0000 08/08/2003


SALES PRICE COST BAS I S GAIN/LOSS TERM----------- ---------- --------- ----

10023 .8510023 .85

11462 . 9611462 . 96

14379 . 7914379 . 79

18037 . 7418037 . 74

2230 . 892230 . 89

2222 .292222 . 29

2245 . 892245 . 89

3448 . 633448 . 63

2240 . 392240 . 39

4432 . 674432 67

5587 . 232234 . 891117 . 452234 . 89

203058 0944672 . 78158385 . 31

196748 . 31196748 . 3 1

4121 . 354121 35

21822 9 76199 . 71743 . 96

4959 . 779919 . 53

1454 931454 . 93

17106 . 1717106 . 17

12860 . 8912860 . 89

1014 .881014 . 88

25066 . 871089 . 863269 . 59

20707 . 41

11374 .4611374 . 46

10799 .4910799 . 49

8697 . 988697 . 98

225575 . 081369 56 . 3088618 .76

7890 . 467890 . 46

10381 . 24

577 5 . 96

6870 . 1 0

19765 . 76

2200 . 00

2199 . 99

2200 . 00

3300 . 00

2200 .00

4400 . 00

2041 . 001100 012051 00

42627 20162895 20

202574 80

1783 92

5607 50731 . 70

4878 . 009764 00

1118 5 8

12304 44

8793 . 96

999 . 00

792 . 002736 . 0018981 00

8016 . 75

6012 . 56

6814 . 2 4

148809 1688616 . 00

6557 . 8 5

- 357 . 39 POST - ST

5687 . 00 POST -ST

7509 . 69 POST -ST

- 1728 . 02 PO ST-ST

30 . 89 LT1 5

22 . 30 LT1 5

45 .89 LT15

14 8 .63 LT15

40 .39 LT1 5

32 .67 LT1 5

193 . 89 LT1517 .44 LT15

183 . 89 LT1 5

204 5 .58 LT1 5-4509 89 POST-ST

-5826 .49 POST-ST

2337 . 43 LT15

592 . 21 POST - ST12 . 26 POST -ST81 . 77 POST -ST

155 . 53 POST-ST

3 36 .35 POST-ST

4801 . 7 3 POST-S T

40 66 . 93 POST-ST

15 .88 POST-ST

297 . 86 POST-ST533 .59 POST-ST

1 726 .41 POST-ST

3357 . 71 POST-ST

4 786 . 93 POST-ST

1883 .74 LT 1 5

-11852 . 86 POST-ST2 .78 POST-ST

13 32 61 POST-ST

ACCT H268 656D4000 MERRILL LYNCH TRUST COMPANY FSB PAGE 259FROM 03/01/2003 STATEMENT OF CAPITAL GAINS AND LOSSESTO 02/29/2004 ORVILLE & RUTH MERILLAT FDN RUN 06/04/2004


TAX PREPARER : EXETRUST ADMINISTRATOR : M61INVESTMENT OFFICER : CBH

PROPERTY DESCRIPTION SHARES DATE----------- - - ------- ----- - ----

100 .0000 AVID TECHNOLOGY INC - 05367P100SOLD 01/21/2004ACQ 100 .0000 08/08/2003

100 . 0000 AVID TECHNOLOGY INC - 05367P100SOLD 01/22/2004ACQ 50 . 0000 08/13/2003

50 . 0000 08/18/2003300 0000 AVID TECHNOLOGY INC - 05367P100

SOLD 01/26/2004ACQ 150 . 0000 08/18/2003

50 . 0000 11/11/2003100 .0000 11/10/2003

500 . 0000 AVOCENT CORP COM - 053893103SOLD 08/19/2003ACQ 500 .0000 09/06/2002

560 .0000 AVOCENT CORP COM - 05389310 3SOLD 08/20/2003ACQ 300 .0000 09/06/2002

260.0000 09/06/20023900 . 0000 AVON PROD INC - 054303102

SOLD 02/03/2004ACQ 3900 . 0000 12/11/2002

2600 . 0000 AVON PROD INC - 054303102SOLD 02/03/2004ACQ 2500 . 0000 12/19/2002

100 . 0000 12/11/2002950 .0000 BJS WHOLESALE CLUB INC - 05548J106

SOLD 01/28/2004ACO 200 .0000 12/03/200 3

750 .0000 12/01/2003400,0000 BANCO ITAU HLDG FIN ADR - 059602201

SOLD 06/12/2003ACQ 400 . 0000 04/25/2003

900 . 0000 BANCO ITAU HLDG FIN ADR - 059602201SOLD 02/03/2004ACO 900 . 0000 01/24/2003

1362 . 0000 BK POLSKA KASA GDR REG S - 064451206SOLD 05/13/2003ACQ 1362 0000 07/05/2002

300 . 0000 BANTA CORP - 066821109SOLD 09/15/2003ACQ 40 . 0000 01/09/2003

60 0000 09/06/200 2200 .0000 09/06/2002

310 .0000 BANTA CORP - 066821109SOLD 09/18/2003ACQ 310.0000 01/09/2003

300 .0000 BEAZER HOMES U S A INC - 07556Q10 5SOLD 01/21/2004ACQ 50.0000 11/13/2003

250.0000 11/12/20035300 . 0000 BED 'BATH & BEYOND INC - 075896100

SOLD 04/25/2003ACQ 5300.0000 12/30/2002

***ADDED*** 09/22/03 CER7400 0000 BED BATH & BEYOND INC - 075896100

SOLD ~ 12/11/2003ACQ 2800 . 0000 12/30/2002

4600 . 0000 01/24/20031250 0000 BEDFORD PPTY INVS INC - 076446301

SOLD 07/31/2003ACQ 50 . 0000 09/06/2002

1200 . 0000 09/06/2002100 .0000 BENCHMARK ELECTRS INC - 08160H101

SOLD 12/04/2003ACQ 100 . 0000 09/06/2002

2555 .0000 BENE 'fTON GROUP SPA - 081795403SOLD 04/03/2003ACQ 855 . 0000 10/17/2002

1700 . 0000 09/10/20022500 . 0000 BEST BUY CO INC - 08651610 1

SOLD 02/24/2004ACQ 2500 .0000 07/18/2003

1700 . 0000 BHP LIMITED SPON ADR - 088606108SOLD 11/21/2003ACQ 1700 . 0000 09/10/2002

800 . 0000 BIOVAIL CORP - 09067J109SOLD 1 06/12/2003ACQ 800 0000 11/25/2002

50 . 0000 BLACKROCK INC CL A - 09247X10 1SOLD 07/22/2003ACQ 50 . 0000 09/06/2002

550 .0000 BLOCKBUSTER INC CL A - 09367910 8SOLD 12/05/2003ACQ 550 0000 09/06/2002

LEGEND : F - FEDERAL S - STATE I - INHERITEDE - EXEMPT FROM STATE U - ACQ COST UNKNOWN

SALES PRICE COST BASIS GA I N/LOSS TERM----------- ---------- --------- ----

5314 .755314 .75

5301 .192650 .602650.60

1 5905 . 407952 .702650 .90530 1 . 80

14407 . 4214407 .42

16084 . 628616 .767467 . 86

249591 .0 4249591 .0 4

163569 . 001572 7 7 . 886291 12

21087 . 404439 . 45

16647 95

13817 . 1113817 .11

44043.6644043 .66

29827 .8029827 .80

1044 5 .5 11 392 .732089 106963 .67

11150 .171 1 1 50 . 17

28207 .8 54 70 1 . 31

23506 .54

206539 .28206539 .28

43 7 1 .90

2303 .002285 .47

6856 . 432444 .804931 .3 1

7715 .00

4629 .00401 1 .80

21 1 569 .15

1 33750 . 005424 .85

5096 001 944 7 .50

1 293 2 .20

18900 .00

26633 .52

1279 .5922 1 8 .20739 4 00

991 6 9 1

5227 .50257 45 .48

18441 5 .09

9742 6 .8 4156127 .2 2

1265 .0030360 . 00

1779 33

942 . 85 POST -ST

347 . 60 POST -ST365 . 13 POST - ST

1096 . 27 POST -ST206 . 10 POST -ST370 . 49 POST -ST

6692 . 42 POST - ST

3987 . 76 POST-ST3456 . 06 POST-ST

38021 . 89 LT15

23527 . 88 LT15866 . 27 LT15

-656 . 55 POST -ST-2799 . 55 POST -ST

884 . 91 POST -ST

25143 . 66 LT1 5

299345 .58113265 . 90186079 . 68

32579 . 601303 . 1831276 .42

3727 . 823727 . 82

37914 . 4212687 . 6025226 . 82

126950 . 29126950 . 29

26705 . 7526705 . 75

39542 .8639542 .86

2254 . 892254 . 89

9742 419742 41

3194 . 28

1 1 3 .1 4-1 29 .10-4 30.33

1233 .26

-526 .19-2238 .94

2212 4 . 19

POST-ST

POST-STLT1 5LT1 5

POST-ST

POST-STPOST-ST

PRE-S T

15839 .06 POST-ST29952 . 46 POST-ST

38 . 18 POST-ST9 16 . 42 POST-ST

19 48 49 LT1 5

17186 .36 -4498.76 PRE-ST35360 00 -10133.18 PRE-ST

111067 . 99

17501 . 50

26520 . 00

2157 . 50

12776 . 49

15882 . 30 POST -ST

9204 . 25 LT15

13022 . 86 POST - ST

97 39 POST -ST

- 3034 . 08 LT 1 5

ACCT H268 6 56D4000FROM 03/01/2003TO 02/29/2,004



MERRILL LYNCH TRUST COMPANY FSB PAGE 260STATEMENT OF CAPITAL GAINS AND LOSSE SORVILLE & RUTH MERILLAT FDN RUN 06/04 /2004


LEGEND . F - FEDERAL S - STATE I - INHER I TEDE - EXEMPT FROM STATE U - ACQ COST UNKNOWN

SHARES DATE SALES PR ICE COST BASIS GAIN/LOSS TERM------ ---- ----------- ---------- --------- ----

970 .0000 BLOCKBUSTER INC CL A - 09367910 8SOLD 12/18/2003 16881 .37ACQ 750.0000 09/06/2002 13052 .61

20.0000 09/06/2002 348 .07200.0000 07/25/2003 3480 .69

460.0000 BORE WARNER AUTOMOTIVE INC - 09972410 6SOLD 09/25/2003 32796.46ACQ 400.0000 09/06/2002 28518 .66

60 .0000 09/06/2002 4277 .801300 .0000 BOSTON COMMUNICATIONS GROUP - 100582105

SOLD 11/12/2003 11706 .21ACQ 400.0000 10/29/2002 3601 .91

700 .0000 10/29/2002 6303 .34200 .0000 10/29/2002 1800 .96

4600 .0000 BRINKER INTL INC - 10964110 0SOLD 08/18/2003 145168 .74ACQ 4600.0000 12/18/2002 145168 74

540 0000 BRINKS CO - 10969610 4SOLD 06/03/2003 8374 .24ACQ 40.0000 09/06/2002 620.31

500.0000 09/06/2002 7753 .93100.0000 BROWN SHOE CO INC COM - 11573610 0

SOLD 02/27/2004 3926 .84ACQ 100.0000 01/09/2004 3926 .84

7400.0000 BURLINGTON RESOURCES INC - 12201410 3SOLD 09/18/2003 338201 .17ACQ 2900.0000 05/22/2003 132538 .30

4500 .0000 06/20/2003 205662 .872500 0000 CIGNA CORP - 12550910 9

SOLD 11/05/2003 140035 .44ACQ 2500.0000 10/04/2002 140035 .44

800 .0000 CABOT OIL & GAS CORP - 127097103SOLD 11/19/2003 21070 85ACQ 800.0000 01/13/2003 21070.85

250 .0000 CABOT MICROELECTRS CORP - 12709P10 3SOLD 08/07/2003 14970.57ACQ 250.0000 09/11/2002 14970 57

200 .0000 CABOT MICROELECTRS CORP - 12709P10 3SOLD 10/29/2003 11619 45ACQ 200.0000 09/11/2002 11619 45

700 0000 CACI INTL INC CL A - 127190304SOLD 01/28/2004 31952 .52ACQ 200.0000 06/17/2003 9129 .29

250.0000 06/12/2003 11411 .6 150.0000 06/11/2003 2282 32

100 .0000 06/10/2003 4564 65100 .0000 06/25/2003 4564 65

16900.0000 CALLAWAY GOLF CORP - 13119310 4SOLD 07/01/2003 221606 .08ACQ 10500.0000 09/06/2002 137684 .25

6400 .0000 10/03/2002 83921 .832300 .0000 CANON INC ADR REP5SH - 138006309

SOLD 12/15/2003 106032 .85ACQ 2300.0000 08/04/2003 106032 .85

920 .0000 CAPITAL AUTOMOTIVE REIT CAPITAL AUTOMOTIVE REIT - 13973310 9SOLD 11/05/2003 29240.74ACQ 550.0000 02/28/2003 17480.88

370 .0000 09/06/2002 11759 .863500 0000 CARDINAL HEALTH INC OHIO - 14149Y10 8

SOLD 08/07/2003 199840 .64ACQ 3500.0000 06/27/2003 199840 64

275 .0000 CAREER EDUCATION CAREER ED CORP - 14166510 9SOLD 03/13/2003 12970 .14ACQ 50.0000 10/31/2002 2358 .21

225.0000 11/05/2002 10611 93225 .0000 CAREER EDUCATION CAREER ED CORP - 14166510 9

SOLD 04/03/2003 11593 .66ACQ 100.0000 11/29/2002 5152 74

50.0000 11/25/2002 2576 3775 .0000 11/05/2002 3864 55

3400 0000 CAREER EDUCATION CAREER ED CORP - 14166510 9SOLD 12/19/2003 124832 63ACQ 3400.0000 08/22/2003 124832 .63

4600 .0000 CARMAX INC - 14313010 2SOLD 12/16/2003 136613 60ACQ 4600.0000 09/26/2003 136613 .60

100 0000 CATHAY GENERAL BANCORP - 149150104SOLD 12/18/2003 5349 .74ACQ 100 0000 12/03/2003 5349 .74

50 .0000 CATHAY GENERAL BANCORP - 14915010 4SOLD 12/22/2003 2700 44ACQ 50.0000 12/03/2003 2700 44

350 0000 CATHAY GENERAL BANCORP - 14915010 4SOLD 12/31/2003 19537 .97ACQ 350.0000 12/03/2003 19537 97

17422 .51464 .603260 .00

23960.003594 .00

5147 .609009 .002574 .00

147 1 08 . 92

930.0011625.00

3690.00

149048 . 98236148 .30

1 55500 .00

1 9480 00

11 5 1 1 .25

9209 00

6820 .008625 001721 .503 461 .0032 10 .00

155860 .9565599 .36

10748 1 .5 3

13777 .509 153 80

22 8659 . 90

1999 .879040 .74

3861 .2619 48 .503013 5 9

156 1 62 00

1 53 1 98 . 40

5140.45

2570 22

17991 .58

- 4 369 . 90 LT15-116 .53 LT15220 .69 POST-ST

4558 . 66 LT15683 . 80 LT1 5

-1545 . 69 LT15-2705 . 66 LT15-77 3 .04 LT15

- 1940 . 18 POST -ST

-309 . 69 POST - ST- 3871 . 07 POST - ST

236 . 84 POST -ST

- 16510 . 68 POST -ST- 30485 .43 POST -ST

- 1 5 46 4 .56 LT15

1590 . 85 POST - ST

3459 . 32 POST - ST

2410 . 45 LT15

2309 .29 POST -ST2786 . 61 POST -ST560 . 82 POST -ST

1103 . 65 POST -ST1354 . 65 POST -ST

- 18176 70 POST -ST18322 . 47 POST -ST

-1448 . 68 POST-ST

3703 . 38 POST -ST260 6 .06 LT 1 5

-28819 . 26 POST -ST

358 . 34 PRE -ST1 571 . 19 PRE -ST

1 291 . 48 PRE -ST627 . 87 PRE -ST8 50 . 96 PRE-ST

- 31329 . 37 POST -ST

- 16584 . 80 POST -ST

209 . 29 POST -ST

130 . 22 POST -ST

1546 . 39 POST - ST

ACCT H268 656D4000FROM 03/01/2003TO 02/29/2Q04

TAX PREPARER: EXETRUST ADM I N ISTRATOR : MG1I NVESTMENT OFFICER : CBH


YERRILL LYNCH TRUST COMPANY FSB PAGE 261STATEMENT OF CAPITAL GAINS AND LOSSE SORVILLE & RUTH MERILLAT FDN RUN 06/04/2004

TRUST YEAR ENDING 02 /29/200 4


SHARES DATE SALES PRICE COST BASIS GA I N /LOSS TERM------ ---- ----------- ---------- --------- ----

350.0000 CELESTICA SUB VTG SHS - 15101Q108SOLD 03/11/2003ACQ 350.0000 11/08/2002

1900.0000 CENTEX CORP - 15231210 4SOLD 01/09/2004ACQ 1900 .0000 10/03/2003

2300 .0000 CENTEX CORP - 152312104SOLD 01/21/2004ACQ 2300 .0000 10/03/2003

225 .0000 CEPHALON INC - 15670810 9SOLD 02/17/2004ACQ 75.0000 08/29/2003

150 .0000 08/08/2003490 .0000 CHARLES RIVER LABS INTL - 159864107

SOLD 10/01/2003ACQ 200.0000 06/11/2003

90 .0000 09/06/2002200 .0000 09/06/2002

150 .0000 CHATTEM INC - 16245610 7SOLD 07/29/2003ACQ 150.0000 09/06/2002

870 .0000 CHATfEM INC - 16245610 7SOLD 09/10/2003ACQ 770.0000 09/06/2002

100.0000 12/16/2002850.0000 CHECKPOINT SYS INC - 162825103

SOLD 03/05/2003ACQ 50.0000 09/06/2002

800.0000 09/06/2002600 .0000 CHIPPAC INC DELAWARE COM - 169657103

SOLD 01/07/2004ACQ 600.0000 05/29/200 3

2650 .0000 CHIPPAC INC DELAWARE COM - 169657103SOLD 01/28/2004ACQ 2400 .0000 05/29/200 3

250 .0000 10/17/2003200 .0000 CHRISTOPHER AND BKS CORP - 171046105

SOLD 06/17/2003ACQ 200.0000 09/11/200 2

1837 .0000 CHRISTOPHER AND BKS CORP - 171046105SOLD 02/06/2004ACQ 226.0000 04/21/200 3

675 .0000 12/19/2002412 .0000 12/06/2002150 .0000 11/19/2002262 .0000 10/10/2002112 0000 09/11/2002

200 .0000 CHROIJIMED INC - 17116410 6SOLD 10/24/2003ACQ 200.0000 05/02/2003

300.0000 CHRONIMED INC - 171164106SOLD 10/27/2003ACQ 300.0000 05/02/2003

200 0000 CHRONIMED INC - 171164106SOLD 10/28/2003ACQ 200 0000 05/02/2003

500 .0000 CIBER INC - 17163810 2SOLD 12/17/2003ACQ 500.0000 08/28/2003

1750 .0000 CIBER INC - 17163810 2SOLD 02/25/2004ACQ 1750.0000 08/28/2003

10200 .0000 CITIGROUP INC - 172967101SOLD 09/04/2003ACQ 10200.0000 07/28/2003

400 .0000 CITY HOLDING CO CHARLSTN - 17783510 5SOLD 10/21/2003ACQ 400,0000 03/03/2003

325 .0000 COGNIZANT TECHNOLOGY SOLUTIO - 19244610 2SOLD 08/08/2003ACQ 25.0000 01/14/2003

300 .0000 10/08/2002500 .0000 COGNIZANT TECHNOLOGY SOLUTIO - 19244610 2

SOLD 10/21/2003ACQ 275.0000 01/14/2003

225 .0000 01/22/2003825 .0000 COGNIZANT TECHNOLOGY SOLUTIO - 19244610 2

SOLD 10/29/2003ACQ 825 0000 01/22/2003

450.0000 COGNIZANT TECHNOLOGY SOLUTIO - 19244610 2SOLD 11/03/2003ACQ 300.0000 04/22/2003

150 .0000 01/22/2003

4122 .874122 .8 7

191586 .46191586 .46

238380.16238380 . 1 6

12831 .144277 .058554 .09

14978 .596113 .7 1275 1 . 176113 .7 1

272 1 .252721 .25

12099 . 0410708 .351 390 .69

7989 .75469 . 99

7519.76

53 30 . 4 55330 . 4 5

21314 . 8119303 .982010 . 8 3

6800 646800 64

31824 .353915 24

11 693 .767137 .522598 . 614538 . 911940 30

1814 911814 .9 1

2750 1 22750 1 2

180 1 .151801 .15

4249 . 804249.80

15780 . 1 815780 . 1 8

451918 .4045 1 918 .40

13735 .511 3735 .51

9601 .32738 .56

8862 .76

21 302 .0011 716 109585 .90

35351 .4935351 . 49

20699 031 3799 356899 .68

4621 . 22

157238 . 48

190341 . 3 4

3312 . 746886 . 50

6430 .003391 . 207536 . 00

2913 . 00

14953 . 402064 . 00

572 . 509160 . 00

3560 . 70

14242 . 801717 . 50

6932 . 00

3510 . 008586 . 686186 . 242255 . 003823 . 752599 . 50

1690 . 00

2535 . 00

1690 . 00

5218 89

18266 . 16

466894 80

11289 . 88

512 . 584864 27

5638 424392 . 00

16104 . 00

5724 . 812928 . 00

-698 . 35 PRE -ST

34347 98 POST -ST

48038 . 82 POST -ST

964 . 31 POST -ST166 7 . 59 POST -ST

-316 . 29 POST - ST-640 .03 LT1 5

-1422 . 29 LT15

- 19 1 .75 POST -ST

-4245 05 LT1 5-673 . 31 POST -ST

- 102 .51 PRE - ST- 1640 .24 PRE - ST

1769 . 75 POST -ST

5061 18 POST -ST293 . 33 POST - ST

- 131 . 36 POST -ST

405 24 POS T-ST3107 .08 LT1 5951 28 LT1 534 3 . 61 LT1 57 15 .1 6 LT1 5

-659 .20 LT1 5

1 24 . 91 POST-ST

215 . 12 PO ST-ST

111 .15 POST-ST

-969 09 POST-ST

-2485 .98 POST-ST

-14976 40 POST-ST

2445 63 POST-ST

225 .98 POST-ST3998 49 POST-ST

6077.68 POST-ST5193 .90 POST-ST

19247 49 POST-ST

8074 .54 POST-ST3971 .68 POST-ST

ACCT H268 656D40Q0FROM 03/01 /2003TO 02/29 /2004



MERRILL LYNCH TRUST COMPANY FSB PAGE 262STATEMENT OF CAPITAL GAINS AND LOSSE SORVILLE & RUTH MERILLAT FDN RUN 06/04/2004


LEGEND : F - FEDERAL S - STATE I - INHERITEDE - EXEMPT FROM STATE U - ACQ COST U NKNOWN

SHARES DATE SALES PR I CE COST BASI S GAIN/L OSS TERM------ ---- ----------- ---------- --------- ----

125 .0000 COGN I ZANT TECHNOLOGY SOLUTIO - 192446 102SOLD 01 /2 7/2004ACQ 125 . 0000 04 /22/2003

275 .0000 COMMERCE BANCORP INC N J - 2 00519106SOLD 04/02 /200 3ACQ 275 .0000 11 /26/2002

320 . 0000 COMMONWLTH TEL ENTERPRI SE - 203349105SOLD 08/27/200 3ACQ 320 .0000 09/06/2002

200 .0000 CMN1Y BANK SYS INC DEL - 20360710 6SOLD 02/13/2004ACQ 200 .0000 01/07/2004

3550 .0000 COMP UCOM SYSTEMS PV1CT - 204780100SOLD 03/18/2003ACQ 800 .0000 01 /17/2003

850 .0000 12/1 9/20021900 .0000 10/2 9/2002

200.0000 COMPUTER NETWRK TECHNLGY - 20492510 1SOLD 10/2 3/2003ACQ 200 . 0000 08/19/2003

100 0000 COMPUTER NETWRK TECHNLGY - 204925101SOLD 12/18/2003ACQ 100 . 0000 08 /19/2003

400 . 0000 COMPUTER NETWRK TECHNLGY - 20492510 1SOLD 12/22/2003ACQ 250 . 0000 09 /26 /2003

150 . 0000 08/19/20031 50 . 0000 COMTECH TELECMNS CRP NEW - 205826209SOLD 01/28/2004ACQ 150 . 0000 12/10/2003

1 50 . 0000 COMTECH TELECMNS CRP NEW - 20 5826209SOLD 01/29/2004ACQ 150 . 0000 12/10/2003

450 .0000 COMT ECH TELECMNS CRP NEW - 205826209SO LD 01/30/2004ACQ 450 .0000 1 2/10/2003

675 0000 CONN ET I CS CORP - 208 192 104SO LD 0 3/12/2003ACQ 675 .0000 12/26/2002

225 .0000 CONN ETICS CORP - 20 8192104SOLD 04 / 1 5/2003ACQ 22 5 0000 1 2/2 6/2002

475 . 0000 CONN ET I CS CORP - 208192 104SOLD 01 /26 /200 4ACQ 12 5 . 0000 12/26/200 2

350 . 0000 06 /17/200 3150 . 0000 COOPER COS INC COM NEW - 216648402

SOLD 07/23/200 3ACQ 1 50 . 0000 03/27/200 3

250 0000 COOPER COS INC COM NEW - 21664840 2SOLD 08 /04/200 3ACQ 2 50 .0000 03 /27/200 3

50 . 0000 COOPER COS I NC COM NEW - 2 1 6648402SOLD 09 /10/2003ACQ 10 .0000 03/27/2003

40 .0000 06/1 9/20031 50 0000 COOP ER COS INC COM NEW - 216648402

SO LD 09/15/2003ACQ 1 50 .0000 06/19/2003

610 .0000 COOPER COS INC COM NEW - 216648402SOLD 10/17/2003ACQ 200 .0000 10/02/200 3

350 .0000 08 /19/200 360 . 0000 06 / 19/2003

660 .0000 CORRECT IONS CORP OF AMER - 22025Y407SOLD 06 /06/200 3ACQ 660 .0000 03/05/2003

3600 . 0000 COUNTRYWIDE CRDT IND DEL - 2 2237210 4SOLD 06 / 11 /2003ACQ 3600.0000 1 1/07/2002

1000 0000 COUNTRYW I DE CRDT IND D EL - 22237210 4SOLD 10/29/2003ACQ 1000.0000 11 /07/2002

2400 .0000 COUNTRYW I DE CRDT I ND DEL - 22 372104SOLD 01/09/2004ACQ 2400.0000 11/07/2002

420 0000 COVENTRY HE ALTH CARE INC - 222862104SOLD 06/ 13/ 2003ACQ 420 . 0000 09/06/2002

150 0000 COVENTRY HEALTH CARE I NC - 222862104SOLD 06/16/2003ACQ 1 50 . 0000 09/06/2002

280 0000 COVEN TRY HEALTH CARE I NC - 22286210 4SO LD 06/17/2003A CQ 280 .0000 09/06/2002

6985 436985 . 43

11037 . 4311037 . 43

11894 . 4511894 . 45

9419 . 699419 . 69

12012 . 482707 . 042876 . 236429 . 21

1801 . 091801 09

923 03923 . 03

3697 . 582310 . 991386 . 59

5235 895235 . 89

5144 . 905144 90

14515 1114515 11

10090 . 9410090 . 94

3671 . 103671 . 10

9955 582619 . 897335 . 69

5344 245344 24

8749 . 598749 59

2192 . 89438 . 58

1754 . 31

6470 . 696470 . 69

26161 . 248577 . 4615010 . 552573 . 24

16763 . 2116763 . 2 1

275619 . 30275619 30

105695 .05105695 .0 5

173349 64173349 6 4

19379 . 1919379 . 19

6912 . 896912 . 89

12935 3912935 . 39

2385 . 33

12518 . 00

12015 . 68

9796 . 80

4000 .004 386 .00

10127 .00

1446 .59

723 .30

2194 . 521084 . 96

4686 . 37

468 6 .3 7

14059 .14

8089 .80

2696 .60

1498 12517 5 .70

4437 .00

7394 . 99

295 . 811381 . 60

5180 99

8160 . 0012463 . 502072 . 41

11728 40

184323 . 96

51201 10

92169 41

12978 00

4635 00

8651 . 99

4600 .10 POST-ST

-1480.57 PRE-ST

-121 .23 POST-ST

-377 .11 POST-ST

-1292 96 PRE-ST-1509 .77 PRE-ST-3697 79 PRE-ST

354 .50 POST-ST

199 .73 POST-ST

116 .47 POST-ST301 .63 POST-ST

549 .52 POST-ST

458 .53 POST-ST

455 97 POST-ST

2001 14

974 50

1121 . 772159 . 99

907 24

1354 6 0

142 77372 7 1

1 289 .70

4 17 . 4625 47 .05500 .83

5034 .8 1

91295 .34

54493 95

PRE-ST

PRE-ST

LT15POST-ST

POST-ST

POST-ST

POST-STPOST-ST

POST-ST

POST-STPOST-STPOST-ST

POST-ST

POST-ST

POST-ST

81180 . 23 LT15

6401 . 19 POST-ST

2277 .89 POST-ST

4283 .40 POST - ST

ACCT H268 656D4000 MERRILL LYNCH TRUST COMPANY FSB PAGE 263FROM 03/01 /2003 STATEMENT OF CAPITAL GAINS AND LOSSESTO 02/29/2004 ORVILLE & RUTH MERILLAT FDN RUN 06 /04/2004


TAX PREPARER: EXETRUST ADMINISTRATOR : MG1INVESTMENT OFFICER: CBH


180 .0000 COVENTRY HEALTH CARE INC - 22286210 4SOLD 06/23/2003ACQ 30.0000 09/06/2002

150.0000 09/06/20023000.0000 CREDIT SUISSE GP SP ADR - 225401108

SOLD 10/01/2003ACQ 400.0000 10/16/2002

2600 .0000 09/10/2002400 .0000 CREE INC - 22544710 1

SOLD 03/25/2003ACQ 400 0000 02/05/2003

1200 .0000 CTI MOLECULAR IMAGING - 229430105SOLD 11/24/2003ACQ 375 .0000 06/06/2003

425 .0000 07/11/2003400.0000 06/30/2003

1125 .0000 CTI MOLECULAR IMAGING - 22943D105SOLD 12/22/2003ACO 375 .0000 07/11/200 3

525 .0000 08/07/2003225 .0000 07/14/2003

600 .0000 CULLEN FROST BANKERS - 22989910 9SOLD 07/10/2003ACQ 600.0000 06/11/2003

625 .0000 CURATIVE TECHNOLOGIES INC - 231264102SOLD 04/15/2003ACQ 625.0000 04/02/2003

100 .0000 CURTISS WRIGHT - 23156110 1SOLD 05/02/2003ACQ 100 0000 09/06/2002

260.0000 CURTISS WRIGHT - 23156110 1SOLD 05/05/2003ACQ 200.0000 09/06/2002

60 .0000 09/06/2002275 .0000 CYBERONICS INC - 23251P102

SOLD 10/23/2003ACQ 275.0000 03/12/2003

550 .0000 CYTYC CORP - 23294610 3SOLD 01/21/2004ACQ 550.0000 11/20/2003

300 .0000 CYTYG CORP - 232946103SOLD 02/09/2004ACQ 300 0000 11/20/2003

250 .0000 CYTYC CORP - 232946103SOLD 02/10/2004ACQ 250.0000 11/20/2003

350.0000 DSP GROUP INC - 233328106SOLD 04/16/2003ACQ 350.0000 12/10/2002

750 .0000 DSP GROUP INC - 233328106SOLD 06/11/2003ACQ 150.0000 12/11/2002

600 .0000 12/10/2002450 .0000 DAKTRONICS INC S .D COM - 234264109

SOLD 01/05/2004ACQ 350.0000 06/13/2003

100 0000 06/16/2003150 .0000 DAKTRONICS INC S .D COM - 234264109

SOLD 01/21/2004ACQ 150.0000 06/16/200 3

550.0000 DAKTRONICS INC S .D COM - 234264109SOLD 01/22/2004ACQ 550.0000 06/16/2003

1950 .0000 DANA CORP - 235811106SOLD 10/07/2003ACQ 1950 .0000 06/06/2003

300 .0000 DAVE & BUSTERS INC - 23833N10 4SOLD 10/24/2003ACQ 300.0000 07/23/2003

1400 .0000 DAVE & BUSTERS INC - 23833N10 4SOLD 10/28/2003ACQ 100.0000 07/23/2003

400 .0000 07/28/2003400 .0000 07/25/2003350.0000 08/04/2003150 .0000 07/30/2003

15300.0000 DELL INC - 247028101SOLD 08/14/2003ACQ 10000 0000 05/28/2003

5300 .0000 06/09/2003100 .0000 DENDRITE INTL INC - 248239105

SOLD 10/14/2003ACQ 100 0000 09/22/2003


SALES PRICE CO ST BAS IS GA I N/LO SS TERM----------- ---------- --------- ----

7935 . 821322 . 646613 . 1 8

97549 . 4313006 . 5984542 . 84

7421 . 207421 . 20

18059 .035643 . 456395 . 916019 . 68

18112 . 896037 . 638452 . 683622 5 8

19919 .0619919 .06

9521 . 619521 . 61

6159 . 716159 . 7 1

15859 . 2512199 . 423659 83

7303 . 687303 . 68

8125 . 488125 . 48

5114 . 825114 82

4280 424280 . 42

6667 046667 0 4

16153 . 423230 . 68

12922 . 74

11976 . 059314 . 712661 . 34

4030 844030 . 84

14772 .8514772 .85

30360 . 0730360 0 7

3674 . 823674 . 82

17289 . 191234 . 944939 774939 . 774322 . 301852 .4 1

478451 . 44312713 . 36165738 .0 8

1510 . 861510 86

927 .004635 .01

6999 .9958821 .10

6725 .32

7024 207437 .507705 .16

6562 .506808 . 1 03937 .50

20292 .00

11 587 .50

5739 .99

11480 .0 13444 .00

4955 .50

6979 50

3806 . 99

3172 50

5662 . 99

2418 . 009708 01

6068 . 511724 . 63

2586 . 94

9485 . 47

20670 00

3375 . 00

1125 . 004280 . 004264 . 003790 . 501647 . 00

305258 . 00165519 00

395 . 64 POST - ST19 78 . 17 POST-ST

6006.60 POST-ST25721 74 LT1 5

695 . 88 PRE -ST

-1380 . 75 POST -ST-1041 .59 POST -ST-1685 . 48 POST -ST

-52 4 .87 POST-ST1644 . 58 POST -ST- 314 . 92 POST-ST

-3 72 . 94 POST -ST

- 2065 . 89 PRE -ST

419 .72 PRE - ST

719 . 41 P RE -ST2 15 . 83 PRE-ST

23 48 18 POST-ST

1 14 5 .98

1 307 . 8 3

11 07 . 9 2

100 4 .05

812 . 683214 .73

32 46 .20936 .7 1

1443 .90

5287 .38

9690 07

299 82

109 .94659 .77675 77531 80205 .4 1

7455 .36219 08

POST -ST

POST - ST

POST - ST

PRE -ST

POST-STPOST-ST

POST-STPO ST-ST

POST-ST

POST-ST

PO ST-ST

POST -ST

POST-STPOST-STPOST-STPOST-STPOST-ST

POST-STPOST-S T

1455 17 55 69 POST -ST

ACCT H268 656D4000 MERRILL LYNCH TRUST COMPANY FSB PAGE 264FROM 03/01 /2003 STATEMENT OF CAPITAL GA I NS AND LOSSE STO 02/29/2Q04 ORVILLE & RUTH MERILLAT FDN RUN 06 /04/2004

TRUST YEAR ENDING 02 /29 / 2004

TAX PREPARER: EXETRUST ADMINISTRATOR : MG1 LEGEND : F - FEDERAL S - STATE I - INHERITED

INVESTMENT OFFICER : CBH E - EXEMPT FROM STATE U - ACQ COST UNKNOWN

PROPERTY DESCRIPTION SHARES DATE SALES PRICE COST BAS IS GAIN/LOSS TERM-------------------- ------ ---- ----------- ---------- --------- ----

650 .0000 DENDRITE INTL INC - 248239105SOLD 10/15/2003ACQ 650.0000 09/22/200 3

1500.0000 DENDRITE INTL INC - 248239105SOLD 11/18/2003ACQ 1500 .0000 09/22/2003

150 .0000 DIGITAL RIVER INC DEL - 253888104SOLD 11/13/2003ACQ 150 0000 05/12/2003

250 .0000 DIGITAL RIVER INC DEL - 253886104SOLD 01/15/2004ACQ 250.0000 05/12/2003

100 .0000 DIGITAL RIVER INC DEL - 253886104SOLD 01/15/2004ACQ 50.0000 05/29/2003

50 .0000 05/12/2003100 .0000 DIME CMNTY BANCORP INC - 253922108

SOLD 01/16/2004ACQ 100.0000 06/11/2003

100 .0000 DIME CMNTY BANCORP INC - 253922108SOLD 01/20/2004ACQ 100.0000 06/11/2003

150 .0000 DIME CMNTY BANCORP INC - 253922108SOLD 02/03/2004ACQ 100.0000 06/11/200 3

50.0000 07/11/200350 .0000 DIME CMNTY BANCORP INC - 253922108

SOLD 02/04/2004ACQ 50.0000 07/11/200 3

500 .0000 DIME CMNTY BANCORP INC - 253922108SOLD 02/05/2004ACQ 300.0000 10/01/200 3

200.0000 07/11/2003100 .0000 DIME CMNTY BANCORP INC - 253922108

SOLD 02/11/2004ACQ 50.0000 10/21/2003

50 0000 10/01/2003925 .0000 DIVERSA CORP COM - 255064107

SOLD 08/07/2003ACQ 925.0000 09/11/2002

950 .0000 DIVERSA CORP COM - 255064107SOLD 10/23/2003ACQ 950.0000 09/11/2002

650 .0000 DOLLAR TREE STORES INC - 256747106SOLD 06/12/2003ACQ 650.0000 09/23/2002

450 .0000 DOLLAR TREE STORES INC - 256747106SOLD 08/08/2003ACQ 225.0000 09/23/2002

100 .0000 12/26/2002100 .0000 12/19/200225 .0000 02/03/2003

7900 .0000 DOLLAR TREE STORES INC - 256747106SOLD 12/01/2003ACQ 4100 .0000 08/25/2003

3800 .0000 09/04/2003375 0000 DOLLAR TREE STORES INC - 256747106

SOLD 02/17/2004ACQ 375.0000 02/03/2003

610 .0000 DORAL FINANCIAL CORP - 25811P100SOLD 03/28/2003ACQ 310.0000 09/06/200 2

300.0000 09/06/2002365 .0000 DORAL FINANCIAL CORP - 25811P100

SOLD 06/03/2003ACQ 150.0000 09/06/200 2

215 .0000 09/06/20024500 0000 DOW JONES CO INC - 260561105

SOLD 10/29/2003ACQ 4500.0000 11/14/2002

175 .0000 EPIQ SYSTEMS INC COM - 26882D109SOLD 03/04/2003ACQ 175.0000 09/11/2002

450 .0000 EPIQ SYSTEMS INC COM - 26882D109SOLD 03/14/2003ACQ 450 0000 09/11/2002

225 .0000 EPIQ SYSTEMS INC COM - 26882D109SOLD 04/22/2003ACQ 150.0000 09/25/2002

75 .0000 09/11/20025600 .0000 ECOLAB INC - 278865100

SOLD 07/18/2003ACQ 5600 .0000 11/26/2002

10149 . 2710149 . 27

24058 . 8724058 . 87

4110 . 134110 . 13

6034 . 966034 . 96

2388 . 791194 . 401194 . 40

3145 . 983145 . 98

3087 . 853087 . 85

4617 . 733078 . 491539 . 24

1550 . 421550 . 42

15220 . 639132 . 386088 . 25

3197 . 851598 . 931598 . 93

7093 867093 .86

7787 167787 . 16

21448 . 9921448 99

16100 . 968050 . 483577 993577 . 99894 . 50

256423 . 57133080 59123342 . 98

12543 . 1612543 16

20753 . 5610546 . 8910206 . 67

15664 . 446437 . 449227 0 0

233262 78233262 78

3324 893324 89

8549 748549 74

5132 113421 . 411710 70

135431 . 90135431 . 90

9458 .60

21827 .5 6

2575 .49

4292 .50

932 . 3785 8 .5 1

253 4 .13

2534 .14

2534 . 151 330 00

1330 .00

6990 . 935320 .00

1285 .641165 1 6

834 6 .73

8572 33

1 4949 99

5175 012 475 . 002521 .00549 .00

153517 94145301 7 4

8235 .00

8876.338586 00

4293 .006156 1 7

1 71369 . 4 5

334 2 .50

8595 00

2535 751432 .50

1 37225 75

690 . 6 7

223 1 .31

1534 .64

1742 .46

262 .03335 .89

611 .85

553 . 71

544 . 34209 2 4

2 20 . 42

2141 . 45768 .25

313 .29433 77

-1252 .8 7

-785 1 7

6499 . 00

2875 . 471102 .991056 .99345 .50

-20 4 37 35- 21958 76

4308 . 1 6

1670.561620.67

2 144 . 443070 8 3

61893 33

-17 .61

-45 .26

8 85 66278 .20

-1793 85

POST-ST

POST-ST

POST-ST

POST-ST

PO S T -STPO ST -ST

POS T-ST

POST-S T

POST-STPOST -ST

POST-ST

POST-STPO ST-ST

POST-STPOST-ST

POST-ST

LT15

POST-ST

POST-STPOST-STPO ST-STPOST-ST

POST-S TPOST-ST

LT1 5

PRE -STPRE-ST

POST-STPOST-ST

POST-ST

P R E-ST

PRE-ST

PRE-STPRE-ST

POST-ST

ACCT H268 656D4000 MERRILL LYNCH TRUST COMPANY FSB PAGE 265FROM 03/01/2003 STATEMENT OF CAPITAL GAINS AND LOSSESTO 02/29/2004 ORVILLE & RUTH MERILLAT FDN RUN 06/04/2004


TAX PREPARER: EXETRUST ADMINISTRATOR : MG1INVESTMENT OFFICER : CBH


6000 .0000 ECOLAB INC - 278865100SOLD 07/24/2003ACQ 200.0000 11/26/2002

2000.0000 01/28/20033800 .0000 01/29/2003

160 .0000 EDWARDS LIFESCIENCES CRP - 28176E108SOLD ' 03/27/2003ACQ 160.0000 09/06/2002

300 0000 EDWARDS LIFESCIENCES CRP - 28176E108SOLD 08/06/2003ACQ 300.0000 09/06/2002

150.0000 EDWARDS LIFESCIENCES CRP - 28176E108SOLD 08/11/2003ACQ 150.0000 09/06/2002

50 .0000 EDWARDS LIFESCIENCES CRP - 28176E108SOLD 08/12/2003ACQ 50.0000 09/06/2002

50 .0000 EDWARDS LIFESCIENCES CRP - 2 8176E108SOLD 08/13/2003ACQ 50.0000 09/06/2002

350.0000 EDWARDS LIFESCIENCES CRP - 28176E108SOLD 10/03/2003ACQ 60.0000 09/06/2002

290 .0000 09/06/20021400.0000 EFUNDS CORP COM - 28224R10 1

SOLD 02/27/2004ACQ 500.0000 12/04/2003

900 .0000 12/01/20036300 0000 ELECTRONIC ARTS INC DEL - 285512109

SOLD 12/10/2003ACQ 5200 .0000 08/15/2003

7300 .0000 ELECTRONIC

1100 .0000AC DEL e/2855~2109

SOLD 12/11/2003ACQ 700.0000 08/21/2003

1800 .0000 08/29/20034800 .0000 09/04/2003

5500 .0000 ELECTRONICS FOR IMAGING INC - 28608210 2SOLD 08/28/2003ACQ 5500 .0000 10/17/2002

LEGEND : F - FEDERAL S - STATE I - INHERITEDE - EXEMPT FROM STATE U - ACQ COST UNKNOW N

SALES PRICE COST BASIS GAIN /LOSS TERM----------- ---------- --------- ----

14849 7 844949 .9 349499 .2894048,63

4300 .694300 .69

7868 .637868 .63

402 7 .3 14027 .3 1

1 368 . 431368 . 43

141 5 .931415 .93

98 3 1 .031685 . 328145 . 7 1

22501 .6080 3 6 .29

1 4465 .3 1

25 7506 . 112 12544 .734496 1 .3 8

315711 .6830273 .7277846 .7 2

20759 1 .24

1 1 8141 .071 1 8141 .07

1050 .0000 EMBRAER EMPRESA BRAS ADR - 29081M102SOLD 06/12/2003ACQ 1050 .0000 05/13/2003

1250 .0000 ENDO PHARMACEUTCLS HLDGS - 29264F205SOLD 09/23/2003ACQ 1250 .0000 01/29/2003

350 .0000 ENTERTAINMENT PPTYS TR - 293807105SOLD 06/06/2003ACQ 350.0000 10/17/2002

550 .0000 ENTERTAINMENT PPTYS TR - 293807105SOLD 06/18/2003ACQ 150.0000 02/10/2003

300 .0000 10/17/2002100 .0000 02/28/2003

500.0000 EXPRESS SCRIPTS INC - 302182100SOLD 03/18/2003ACQ 500.0000 09/11/2002

625 .0000 EXPRESS SCRIPTS INC - 302182100SOLD 04/08/2003ACQ 625.0000 09/11/2002




75 .0000 10/04/200250.0000 11/08/200250.0000 11/12/2002

350.0000 FEI CO - 302411-109SOLD 11/19/2003ACQ 10.0000 09/06/2002

40 .0000 09/06/2002100 .0000 09/06/2002100 .0000 09/06/2002100 .0000 09/06/2002

20852 0220852 02

26370 . 5126370 5 1

9799 . 549799 . 54

15135 . 404127 . 848255 672751 . 89

27657 . 1127657 . 11

34238 . 7034238 . 70

23439 . 2423439 24

33135 . 9433135 94

16348 285944 834458 . 622972 .412972 41

8150 . 45232 . 87931 . 482328 . 702328 702328 70

4900 . 9348207 . 4090286 . 29

3872 .00

7260 .00

3630 . 00

1210 . 00

1209 .99

1452 .007018 .01

8800 . 0016006 . 41

223860 .0048871 .51

31100.0680 13 6 .362175 1 1 .28

85250 .00

16233 . 00

11702 . 88

7441 . 00

3525 . 006378 . 002490 . 00

25821 . 35

32276 . 69

18074 . 94

28403 . 49

5164 . 283684 . 752713 .002600 .00

173 . 00692 801732 001732 . 001732 . 00

49 .00 POST-ST1291 .88 POST-ST3762 .34 POST-ST

428 . 69 PRE-ST

608 .63 POST-ST

397 . 31 POST -ST

158 . 43 POST -ST

205 . 94 POST -ST

233 . 32 LT151127 . 70 LT15

-763 . 71 POST - ST- 1541 . 10 POST-ST

-11315 . 27 POST -ST- 3910 . 13 POST -ST

-826 . 34 POST -ST-2289 . 64 POST -ST-9920 .04 POST -ST

32891 07 POST - ST

4619 .02 POS T-ST

14667 .63 POST - ST

2358 . 54 POST-ST

602 . 84 POST -ST1877 . 67 POST -ST261 . 89 POST -ST

1835 . 76 PRE - ST

1962 . 01 PRE -ST

5364 30 POST -ST

4732 . 45 LT1 5

780 55 LT15773 . 87 POST -ST259 . 41 POST - ST372 41 POST - ST

59 . 87238 . 68596 . 70596 . 70596 70

LT 1 5LT15LT1 5LT 1 5LT15

ACCT H268 656D4000FROM 03/01/2003TO 02/29/Z00 4

TAX PREPARER : EXETRUST ADMINISTRATOR : MG1INVESTMENT OFFICER ; CBH


MERRILL LYNCH TRUST COMPANY FSB PAGE 266STATEMENT OF CAPITAL GAINS AND LOSSE SORVILLE & RUTH MERILLAT FDN RUN 06 /04 /2004


LEGEND : F - FEDERAL S - STATE I - INHER I TEDE - EXEMPT FROM STATE U - ACQ COST UNKNOWN

SHARES DATE SALES PRI CE COST BASIS GAIN/LOSS TERM------ ---- ----------- ---------- --------- ----

150.0000 FEI CO - 30241L109SOLD 11/20/2003ACQ 90.0000 09/06/2002

60 .0000 09/06/2002470 .0000 FEI CO - 30241L10 9

SOLD 11/25/2003ACQ 170.0000 09/06/2002

300 .0000 05/19/20031450 .0000 FAIRCHILD SEMICNDCT CL A - 303726103

SOLD 04/03/2003ACQ 1450 0000 12/10/2002

8000 .0000 FIDELITY NTL FINL INC - 316326107SOLD 08/27/2003ACQ 5500.0000 12/18/200 2

2500.0000 04/23/2003450.0000 FIRST AMERN FINL CORP CALIF - 318522307

SOLD 10/01/2003ACQ 450.0000 08/14/200 3

200 .0000 FIRST BANCORP P .R . - 318672102SOLD 05/01/2003ACQ 200.0000 01/21/2003

550 .0000 FIRST BANCORP P R . - 318672102SOLD 10/21/2003ACQ 300 0000 10/01/2003

250 .0000 01/21/2003190 .0000 FIRST COMMUNITY BANCORP - 319838101

SOLD 08/05/2003ACQ 190.0000 06/23/2003

13700.0000 FIRST DATA CORP - 31996310 4SOLD 08/22/2003ACQ 9900 .0000 03/31/2003

3800 .0000 04/01/200 33700 .0000 151 TENN NATL CORP - 337162101

SOLD 08/18/2003ACQ 3700 0000 02/11/2003

50 .0000 FIRSTFED FINL CORP DEL - 337907109SOLD 06/23/2003ACQ 50.0000 06/03/200 3

360 .0000 FIRSTFED FINL CORP DEL - 337907109SOLD 06/26/2003ACQ 360.0000 06/03/2003

4000 .0000 FOREST LABS INC - 34583810 6SOLD 06/27/2003ACQ 4000 .0000 01/10/2003

5500 .0000 FOREST LABS INC - 34583810 6SOLD 07/16/2003ACQ 1300 .0000 01/10/2003

4200 .0000 01/23/20038900 .0000 FOX ENTMT GROUP INC CL A - 351387107

SOLD 04/28/2003ACQ 8182 .0000 12/16/2002

718 .0000 12/17/2002***ADDED*** 10/21/03 JEH

9400 .0000 FOX ENTMT GROUP INC CL A - 35138T107SOLD 05/08/2003ACQ 2100 .0000 12/17/2002

7300 .0000 01/28/2003***ADDED*** 10/21/03 JEH

2700 .0000 FRANCE TELECOM ADR - 35177Q105SOLD 03/27/2003ACQ 500.0000 11/18/200 2

1700 .0000 10/31/2002100 .0000 11/18/2002400 .0000 11/18/2002

375 .0000 FREDS INC CL A - 356108100SOLD 06/17/2003ACQ 200.0000 05/01/2003

175 .0000 04/21/2003100 .0000 FRONTIER FNCL WASH COM - 35907K105

SOLD 01/26/2004ACQ 100.0000 12/08/2003

1030 .0000 H B FULLER CO - 35969410 6SOLD 10/06/2003ACQ 130.0000 09/06/2002

100.0000 09/06/2002100 0000 09/06/2002100.0000 09/06/2002100.0000 09/06/2002500.0000 09/06/2002

4900 .0000 FURNITURE BRANDS INTL INC - 360921100SOLD 07/23/2003ACQ 4900 .0000 09/12/2002

350 .0000 GAMESTOP CORP DEL CL A - 36466R101SOLD 01/09/2004ACQ 350.0000 12/10/2002

3491 . 832095 . 101396 .73

11445 . 184139 . 757305 43

16340 7316340 . 73

225877 . 42155290 . 7 370586 . 69

11190 . 9711190 97

6173 . 716173 . 7 1

17773 . 079694 . 408078 67

6108 . 326108 . 32

522916 . 85377874 . 22145042 . 63

152977 . 85152977 . 85

1734 911734 91

12023 4312023 . 4 3

222582 . 38222582 . 38

268937 4 163567 .02

205370 . 39

218353 06200737 6 117615 . 45

248324 1555 476 67

1 92847 . 48

57427 . 5510634 . 7336158 . 092126 . 958507 . 79

13777 . 457347 . 976429 . 48

3430 . 043430 . 04

25471 . 633214 . 872472 .972472 .972472 .972472 .97

12364 . 87

131117 86131117 . 86

6300 . 826300 . 82

1558 . 801039 . 20

2944 . 405154 . 66

17470 .04

140999 .7669820 . 00

11164 . 50

4649 . 99

9300 .0058 1 2 .51

5698 .10

366 277 .2 3130 721 . 90

140445 .34

1 730 . 46

12459 .39

219422 .79

71312 . 4222049 1 .1 8

217662 .4719360 .86

56626 .5 1197056 .20

6575 .0019035 .08

1 300.005212 .00

6380 . 445502 65

3333 20

3580 .202754 .002753.002750.002750.0013750.00

113556 .03

6422 .50

536 . 30 LT15357 . 53 LT15

1 195 .35 LT152150 . 77 POST - ST

-1 129 .31 PRE-ST

14290 . 97 POST-ST766 . 69 POST-ST

26 . 47 PO ST-ST

1523 . 72 PRE -ST

394 . 40 POST -ST2266 . 16 POST -ST

410 . 22 POST -ST

11596 . 99 POST -ST14320 . 73 POST - ST

12532 . 51 POST -ST

4 45 POST -ST

-435 96 POST - ST

3159 . 59 POST -ST

-7745 .40 POST-ST-15120 79 POST-ST

-16924 86 PRE-ST-1745 41 PRE-ST

-1149 .84 POST-ST-4208 .72 POST-ST

4059 .73 PRE-ST17123 .01 PRE-ST826 .95 PRE-ST

3295 .79 PRE-ST

967 53 POST-ST926 .83 POST-ST

96 84 POST-ST

-365 .33 LT15-281 .03 LT15-280.03 LT15-277 03 LT15-277 .03 LT1 5

-1385 .13 LT1 5

1756 1 . 83 POST -ST

-1 21 . 68 LT15

ACCT H268 656D4000 MERRILL LYNCH TRUST COMPANY FSB PAGE 267FROM 03/01 /2003 STATEMENT OF CAPITAL GAINS AND LOSSESTO 02/29/2004 ORVILLE & RUTH MER ILLAT FDN RUN 06/04/2004


TAX PREPARER : EXETRUST ADMIN ISTRATOR : MG1 LEGEND- F - FEDERAL S - STATE I - INHERITEDINVESTMENT OFFICER :CBH E - EXEMPT FROM STATE U - ACQ COST UNKNOWN

PROPERTY DESCRIPTION SHARE S DATE SALES PRI CE COST BAS IS GAIN/LOSS TERM-------------------- ------ ---- ----------- ---------- --------- ----

1700.0000 GANNETT CO - 364730101SOLD 06/18/2003ACQ 1700 .0000 11/07/2002

3100.0000 GANNETT CO - 36473010 1SOLD 07/25/2003ACQ 3100.0000 11/07/2002

12400 0000 GAP INC DELAWARE - 36476010 8SOLD 01/28/2004ACQ 100.0000 08/20/2003

12300,0000 08/13/200316800 0000 GAP INC DELAWARE - 364760108

SOLD 02/04/2004ACQ 4200 .0000 08/20/2003

9300 .0000 12/02/20033300 .0000 08/21/2003

100 .0000 GEN-PROBE INC DELAWARE - 36866710 3SOLD 12/02/2003ACQ 100.0000 06/02/2003

800.0000 GEN-PROBE INC DELAWARE - 36866710 3SOLD 12/03/2003ACQ 400.0000 06/02/2003

400 .0000 06/03/20031473750 0000 GAMCO ACCESS LTD - 36899B87 1

SOLD 06/30/2003AC 1473750 .0000 07/30/2002

***ADDED*** 10 20/03 K0 11000.0000 GENERAL CABLE CORP - 369300108

SOLD 01/07/2004ACQ 950.0000 09/19/200 3

50.0000 09/23/20031400 .0000 GENERAL CABLE CORP - 369300108

SOLD 01/09/2004ACQ 550.0000 09/23/2003

850 .0000 11/06/2003325 .0000 GENESIS MICROCHIP INC DE - 371840103

SOLD 07/22/2003ACQ 150 0000 04/17/2003

175 .0000 03/18/2003400 0000 GEORGIA GULF CORP COM PAR $0 .01 - 373200203

SOLD 04/10/2003ACQ 400.0000 09/06/2002

3100 .0000 GILEAD SCIENCES INC - 375558103SOLD 10/30/2003ACQ 3100 .0000 08/18/2003

2900 0000 GILEAD SCIENCES INC - 375558103SOLD 01/30/2004ACQ 1200 0000 08/29/2003

1700 0000 08/18/200312365 0000 GIORDANO INTL LTD SPN ADR - 376112108

SOLD 04/03/2003ACQ 6065 .0000 10/17/2002

6300 0000 09/11/2002800.0000 GLOBESPAN VIRATA INC COM - 37957V106

SOLD 01/21/2004ACQ 800.0000 09/11/2003

500.0000 GLOBESPAN VIRATA INC COM - 37957V106SOLD 01/26/2004ACQ 500.0000 09/11/200 3

400 .0000 GLOBESPAN VIRATA INC COM - 37957V106SOLD 01/28/2004ACQ 50.0000 09/11/200 3

350 .0000 10/01/2003400 .0000 GLOBESPAN VIRATA INC COM - 37957V106

SOLD 01/29/2004ACQ 400.0000 10/01/2003

1200 .0000 GLOBESPAN VIRATA INC COM - 37957V106SOLD 02/02/2004ACQ 700.0000 10/01/2003

500 .0000 10/17/2003250 .0000 GOLD BANC CORP INC COM - 379907108

SOLD 04/11/2003ACQ 250.0000 03/06/2003

900 0000 GOLD BANC CORP INC COM - 379907108SOLD 05/01/2003ACQ 900.0000 03/06/2003

920 0000 GRIFFON CORP - 398433102SOLD 07/11/2003ACQ 920.0000 12/27/2002

100.0000 GROUP I SOFTWARE NEW DEL - 39943Y10 3SOLD 12/11/2003ACQ 100.0000 10/13/2003

100 .0000 GROUP I SOFTWARE NEW DEL - 39943Y10 3SOLD 12/15/2003ACQ 100.0000 10/13/2003

131033 .09131033 .09

238031 .96238031 .96

229921 .1 91 8 5 4 .20

22 8066 .99

320644 . 9180 1 6 1 .23

1 7 7499 . 8662983 .8 2

3442 . 8 33442 .83

26839 .9 413419 . 971 3419 .97

152 1204 .751521204 .7 5

81 52 417744 79407 62

115 38 .254532 . 887005 37

4 22 3 .05194 9 . 102273 95

8453 368453 .36

1 67 812 .8 11 67 812 .8 1

157 1 34 9465021 3592 1 13 59

36475 .041 7890 .911 8584 13

6455.376455 37

3908 76390 8 .76

33 10 . 4 4413 .81

289 6 . 64

3123 .853123 .85

9527 .555557 .743969 . 81

2135 .232135 .23

7892 637892 .63

15050.491 5050 49

1693 .341 693 3 4

1771 .681771 68

129695 .04

236502 .72

19 2 8 . 7023 29 7 1 .84

81005 .831 9980 4 . 9265010 .00

1947 50

7790 . 007394 96

1 500000 .00

9292 .0 54 7 9 . 6 1

5275 .778086 .99

2088 .052318 .75

9996 .00

1961 48 1 5

7968 7 . 44107565 . 1 3

25776 .2528350 . 00

6624 . 56

4140 . 35

414 . 042562 . 10

2928 . 1 2

5124 . 223765 . 00

2539 . 99

9144 . 01

12438 . 40

1956 . 04

1956 .03

1338 . 05 POST - ST

1 529 . 24 POST -ST

-74 .50 POST-ST- 4904 . 85 POST -ST

-844 . 60 POST -ST-22305 . 06 POST-ST

-2026 . 18 POST -ST

1495 . 33 POST - ST

5629 . 97 POST -ST6025 .01 POST -ST

21204 . 75 POST -ST

- 1 547 . 26 POST -ST-71 . 99 POST -ST

- 742 . 89 POST - ST- 1081 62 POST -ST

- 138 .95 POST -ST-44 .80 POST -ST

-1542 . 64 PRE - ST

- 28335 . 34 POST-ST

- 14666 . 09 POST -ST- 15451 . 54 POST -ST

- 7885 . 34 PRE -ST-9765 . 87 PRE -ST

- 169 . 19 POST -ST

-2 31 .59 POST -ST

-0 . 24 POST -ST334 . 54 POST -ST

195 . 73 POST - ST

433 . 52 POST - ST204 . 81 POST - ST

-404 .76 PRE-ST

-1251 .38 PRE -ST

2612 .09 POST-ST

-262 .70 POST-ST

-184 . 35 POST - ST

ACCT H268 656D40Q0FROM 03/01/200 3TO 02/29/2004


PROPERTY DESCRIPTI ON--------------------

MERRILL LYNCH TRUST COMPANY FSB PAGE 268STATEMENT OF CAPITAL GA I NS AND LOSSESORVILLE & RUTH MERILLAT FDN RUN 06/04/2004

TRUST YEAR END I NG 02/29/200 4


SHARES DATE SALES PRICE CO ST BASIS GAIN/LOSS TERM------ ---- ----------- ---------- --------- ----

100.0000 GROUP I SOFTWARE NEW DEL - 39943Y103SOLD 12/17/2003ACQ 100.0000 10/13/2003

100.0000 GROUP I SOFTWARE NEW DEL - 39943Y103SOLD 12/23/2003ACQ 100.0000 10/13/2003

100 .0000 GROUP I SOFTWARE NEW DEL - 39943Y103SOLD 12/31/2003ACQ 100.0000 10/13/2003

350 0000 GROUP I SOFTWARE NEW DEL - 39943Y103SOLD 02/06/2004ACQ 350.0000 10/13/200 3

450.0000 GTECH HLDGS CORP - 400518106SOLD 09/22/2003ACQ 450.0000 09/06/2002

200.0000 GTECH HLDGS CORP - 400518106SOLD 09/29/2003ACQ 200.0000 09/06/2002

360 .0000 GTECH HLDGS CORP - 400518106SOLD 12/15/2003ACQ 10.0000 09/06/2002

100.0000 09/06/2002250.0000 09/06/2002

1600 .0000 HRPT PPTYS T COM BEN INT - 40426W10 1SOLD 05/29/2003ACQ 1600.0000 02/19/2003

150 .0000 HANDLEMAN CO PV 1CT COM - 41025210 0SOLD 04/28/2003ACQ 150.0000 03/31/2003

50.0000 HANDLEMAN CO PV 1CT COM - 410252100SOLD 06/25/2003ACQ 50.0000 03/31/2003



350 .0000 HANDLEMAN CO PV 1CT COM - 41025210 0SOLD 07/11/2003ACQ 350 0000 03/31/2003

500 .0000 HANDLEMAN CO PV 1CT COM - 410252100SOLD 07/22/2003ACQ 350.0000 03/31/2003

150 0000 05/29/2003600.0000 HANGER ORTHOPEDIC GROUP INC - 41043F20 8

SOLD 07/25/2003ACQ 410.0000 09/23/2002

90 .0000 09/06/2002100.0000 09/06/2002

400 .0000 HANGER ORTHOPEDIC GROUP INC - 41043F208SOLD 07/28/2003ACQ 400.0000 09/23/2002

350 .0000 HANGER ORTHOPEDIC GROUP INC - 41043F208SOLD 08/27/2003ACQ 290 0000 09/23/200 2

60.0000 02/19/2003740 0000 HANGER ORTHOPEDIC GROUP INC - 41043F208

SOLD 10/16/2003ACQ 200 0000 05/19/200 3

540 .0000 02/19/2003250.0000 JOHN H HARLAND CO - 412693103

SOLD 12/02/2003ACQ 250.0000 09/06/2002

200 .0000 JOHN H HARLAND CO - 412693103SOLD 12/03/2003ACQ 200.0000 09/06/2002

450 .0000 HARRIS CORP DEL - 41387510 5SOLD 12/05/2003ACQ 400.0000 04/02/2003

50 .0000 04/21/2003250 0000 HARRIS CORP DEL - 41387510 5

SOLD 12/22/2003ACQ 250.0000 04/21/2003

9200 .0000 HELLENIC TELECOM ORG ADR - 42332530 7SOLD 03/27/2003ACQ 5825.0000 01/07/2003

3375 0000 01/06/20035300 0000 HIBERNIA CORP CL A - 428656102

SOLD 11/03/2003ACQ 5300 .0000 10/04/2002

275 .0000 HILB ROGAL & HAMLTN COM - 431294107SOLD 01/21/2004ACQ 275 0000 09/16/2003

1683 . 121683 . 12

1779 . 571779 . 57

1764 . 511764 . 51

4442 . 314442 . 3 1

19456 . 5019456 . 50

8468 . 788468 . 78

17418 . 79483 . 86

4838 . 5 512096 . 38

14991 . 2914991 . 29

2489 . 882489 . 88

783 . 96783 . 96

1544 . 921544 . 92

797 . 46797 . 46

5757 . 235757 . 23

8149 . 615704 . 732444 . 88

7327 . 215006 . 931099 . 081221 . 20

4899 . 774899 . 77

4644 . 283848 . 12796 . 16

11987 .063239 . 758747 . 31

6814 . 686814 . 68

5469 . 745469 .7 4

16785 . 2014920 . 18

1865 .02

9399 . 569399 5 6

47429 .4030030 .0317399 . 3 7

12189 6 94121896 . 94

9048 369048 36

1956 .0 4

1956 . 04

1 956 .04

6846 .15

8703 .00

386 7 . 99

19 3 .001930 .004835 . 01

13376 .00

2 143 .0 1

714 . 34

1428 . 68

714 3 4

5000 . 38

5000 392614 . 50

5916 .291525 501695 00

5772 .00

418 4 .7 170 8 .00

2030 006372 .00

6427 50

5142 00

11220 001418 .00

7090 .00

33504 .8219813 95

95029 00

8683 59

-272 .92 POST-ST

-176 .47 POST-ST

-191 53 POST-ST

-2403 .84 POST-ST

10753 .50 LT15

4600 .79 LT1 5

290.86 LT152908 .55 LT157261 37 LT15

1615 .29 POST-ST

346 .87 PRE-ST

69 62 POST-ST

116 .24 POST-ST

83 12 POST-ST

756 . 85 POST -ST

704 . 34 POST -ST- 169 62 POST -ST

-909 .36-426 .42-473 80

- 872 23

-336 .5988 16

1 209 752375 .3 1

387 18

327 74

3700 . 1 8447 .02

2309 .56

-3474 .79-2414 58

26867 9 4


POST-ST

POST-STPOST-ST

POST-STPOST-S T

LT1 5

LT15

POST-STPOST-ST

POST-ST

PRE-STPRE-ST

LT15

364 77 POST - ST

ACCT H268 656 04000FROM 03/01/200 3TO 02/29/200 4

TAX PREPARER: EXETRUST ADMINISTRA TOR : MG1INVESTMENT OFFICER : CBH


MERRILL LYNCH TRUST COMPANY FSB PAGE 269STATEMENT OF CAPITA L GAINS AND LOSSESORVILLE & RUTH MER I LLAT FDN RUN 06/04/2004

TRUST YEAR END ING 02/29/2004


SHARES DAT E SALES PR ICE COST BASIS GAIN/LOSS TERM------ ---- ----------- ---------- --------- ----

150 .0000 HOLLYWOOD ENTMT CORP - 436141105SOLD 09/10/2003ACQ 150.0000 09/06/2002

1190 .0000 HOLLYWOOD ENTMT CORP - 436141105SOLD 11/25/2003ACQ 340.0000 09/06/2002

500 .0000 09/23/2002350 .0000 09/23/2002

14100 0000 HOME DEPOT INC - 43707610 2SOLD 09/10/2003ACQ 14100.0000 07/16/2003

1350 .0000 HOMESTORE .COM INC COM - 437852106SOLD 08/19/2003ACQ 1350.0000 06/11/2003

1100 .0000 HOMESTORE .COM INC COM - 43785210 6SOLD 08/20/2003ACQ 1100 .0000 06/11/2003

950 0000 HOMESTORE.COM INC COM - 43785210 6SOLD 08/22/2003ACQ 950.0000 06/11/2003

800 .0000 HOMESTORE .COM INC COM - 43785210 6SOLD 08/25/2003ACQ 800 .0000 06/11/2003

650 .0000 HOMESTORE .COM INC COM - 437852106SOLD 08/26/2003ACQ 650 .0000 06/11/2003

400.0000 HOMESTORE .COM INC COM - 437852106SOLD 08/27/2003ACQ 400.0000 06/11/2003

2550.0000 HOMESTORE .COM INC COM - 437852106SOLD 08/28/2003ACQ 2350.0000 06/17/2003

200.0000 06/11/2003825 .0000 HOT TOPIC INC - 441339108

SOLD 12/22/2003ACQ 450 0000 07/11/2003

375 .0000 05/09/2003830 0000 HOUSTON EXPL CO - 44212010 1

SOLD 11/11/2003ACQ 700.0000 09/06/2002

30 .0000 09/06/200 2100 .0000 09/06/2002

350 .0000 HUDSON UNITED BANCORP - 444165104SOLD 10/14/2003ACQ 350.0000 09/06/2002


150.0000 HUDSON UNITED BANCORP - 444165104SOLD 01/13/2004ACQ 150 0000 09/06/2002


820 .0000 HUDSON UNITED BANCORP - 444165104SOLD 01/22/2004ACQ 20 0000 09/06/200 2

500.0000 09/06/2002200.0000 11/03/2003100.0000 09/15/200 3

450 .0000 HUGOTON ROYALTY TR UBI - 444717102SOLD 12/12/2003ACQ 450.0000 10/16/200 3

700 .0000 HUTCHINSON TECHNOLOGY - 448407106SOLD 02/11/2004ACQ 700.0000 11/05/2003

1350 0000 HYPERCOM CORP - 44913M105SOLD 12/10/2003ACQ 1350 .0000 11/25/2003

650 0000 HYPERION SOLUTIONS CORP - 44914M10 4SOLD 03/03/2003ACQ 650.0000 12/05/2002

150 .0000 HYPERION SOLUTIONS CORP - 44914M10 4SOLD 06/23/2003ACQ 150.0000 05/23/2003

400 .0000 HYPER ION SOLUTIONS CORP - 44914M10 4SOLD 08/26/2003ACQ 400.0000 05/23/2003

1900 .0000 HYUNDAI MOTOR - GDR - 449187707SOLD 03/07/2003ACQ 1900.0000 12/02/2002

690 0000 IMATION CORP - 45245A10 7SOLD 08/14/2003ACO 200 0000 02/12/2003

390.0000 01/08/2003100 0000 05/02/2003

267 7 .0 42677 .04

16483 224709.496925 .724848 .0 1

453320 . 5 7453320 .57

4177 .114177 .11

3461 . 973461 .97

294 4 .862944 86

2401 .96240 1 .96

1983 .5 71983 .57

1279 .9412 79 .9 4

8108 6274 72 65635 .97

23314 .6412717 0810597 .56

29730 7825074 1 51074 .613582.02

12564 4 112564 4 1

354 7 8 335 47 . 83

5220 165220 .16

3459 . 833459 .83

28569 02696 .81

17420 .1 36968 0534 84 03

101 73 . 2610173 .26

19774 9819774 .98

6466 736466 .73

16896 .1816896 .18

5139 .205139 .20

12443 .1712443 .17

17536 .4317536 43

23674 .386862 1 413381 .173431 .07

2 1 27 .00

4821 .207020 .00491 4 .00

472206 .1 8

2451 .4 6

1997 . 49

1 7 25 .10

1452.72

1180 .34

726.36

4329 .17363 .19

8 420 .856251 .05

21350 00911 . 40

3038 0 0

10185 . 00

2910 . 00

4365 . 00

2910 . 00

582 .0014550 . 007407 . 483575 . 00

8860 . 49

23055 .83

6993 .00

18050 .37

4468 .66

11916 .45

28310 00

6862 .0014628 .903446 .00

550 .04 LT15

-111 .71 LT1 5-94 .28 LT15-65 .99 LT15

-18885 .61 POST-ST

1725 .65 POST-ST

1464 48 POST-ST

1219 76 POST-ST

949 24 POST-ST

803 .23 POST-ST

553 .58 POST-ST

3143 48 POST-ST272 78 POST-S T

4296 .23 POST-ST4346 51 POST-ST

3724 15 LT1 5163 .21 LT15544 02 LT15

2379 41 LT1 5

637 . 83

855 16

549 83

114 .8 12870 13-439 . 43

-90 . 97

1312 77

- 3280 85

LT1 5

LT1 5

LT 15

LT15LT1 5PO ST-STPO ST - ST

POST-ST

POST-ST

- 526 27 POST - ST

- 1154 . 19 PRE -ST

670 54 POST -ST

526 . 72 POST -ST

- 10773 57 PRE - ST

0 14 POST -ST- 124 7 73 POST - ST-14 93 POST - ST

ACCT H268 656D4000FROM 03/01/2003TO 02/29/2004

TAX PREPARER : EXETRUST ADMINISTRATOR : MG1INVESTMENT OFF I CER : CBH

PROPERTY DESCRIPT ION--------------------

MERRILL LYNCH TRUST COMPANY FSB PAGE 270STATEMENT OF CAPITAL GAINS AND LOSSE SORVILLE & RUTH MERILLAT FDN RUN 06/04/2004


LEGEND- F - FEDERAL S - STATE I - INHERITEDE - EXEMPT FROM STATE U - ACQ COST UNKNOWN

SHARES DATE SALES PRI CE COST BAS IS GAIN/LOSS TERM------ ---- ----------- ---------- --------- ----

695 0000 IMMUCOR INC - 45252610 6SOLD 05/20/2003ACO 200.0000 04/16/2003

195 .0000 09/06/2002300 .0000 09/06/2002

150.0000 (NAMED CORP COM - 453235103SOLD 04/03/2003ACQ 150.0000 12/27/2002

240 .0000 (NAMED CORP COM - 453235103SOLD 05/14/2003ACQ 240.0000 12/27/2002

500 .0000 (NET TECHNOLOGIES INC - 45662V105SOLD 02/11/2004ACQ 500.0000 12/16/2003

321 .0000 INFOSYS TECH LTD ADR - 456788108SOLD 05/12/2003ACQ 221 .0000 07/05/2002

100.0000 01/07/20033300 0000 ING GP NV SPSD ADR - 456837103

SOLD 09/08/2003ACQ 3300.0000 09/10/2002

875 .0000 INTGRTD CIRCUIT SYS NEW - 45811K208SOLD 03/06/2003ACO 875 .0000 09/11/2002

250 .0000 INTGRTD CIRCUIT SYS NEW - 458111(208SOLD 05/29/2003ACQ 250.0000 09/11/200 2

650 .0000 INTGRTD CIRCUIT SYS NEW - 45811K208SOLD 06/06/2003ACQ 650.0000 09/11/200 2

475 .0000 INTGRTD CIRCUIT SYS NEW - 458111(208SOLD 07/02/2003ACQ 75.0000 12/26/2002

125 .0000 12/11/200250 .0000 10/09/2002

225 .0000 09/11/2002475 0000 INTGRTD CIRCUIT SYS NEW - 45811K208

SOLD 10/29/2003ACQ 200.0000 12/26/2002

275 0000 12/31/20021350 0000 INTER TEL INC - 458372109

SOLD 04/16/2003ACQ 250.0000 03/20/2003

100.0000 09/06/2002500.0000 09/06/2002500.0000 09/06/2002

150 .0000 INTER TEL INC - 45837210 9SOLD 11/25/2003ACQ 150.0000 07/30/2003

100 .0000 INTER TEL INC - 45837210 9SOLD 12/29/2003ACO 100 .0000 09/18/2003

450 .0000 INTER TEL INC - 45837210 9SOLD 01/09/2004ACQ 450.0000 09/18/2003

340 .0000 INTERACTIVECORP - 45840010 1SOLD 08/15/2003ACQ 340.0000 06/06/2003

2000 0000 INTL GAME TECHNOLOGY - 45990210 2SOLD 10/30/2003ACQ 2000.0000 09/18/2002

1000 0000 INTL GAME TECHNOLOGY - 459902102SOLD 01/27/2004ACQ 1000.0000 09/18/2002

250 .0000 INTL RECTIFIER CORP - 460254105SOLD 09/18/2003ACQ 250.0000 11/18/2002

500 .0000 INTL RECTIFIER CORP - 46025410 5SOLD 09/25/2003ACQ 460.0000 11/18/2002

40 .0000 01/15/200 3260 0000 INTL RECTIFIER CORP - 460254105

SOLD 09/30/2003ACQ 110.0000 01/15/2003

150 .0000 05/09/2003550 .0000 INTERNET SEC SYS INC COM - 46060X107

SOLD 03/31/2003ACQ 550.0000 01/22/2003

800 .0000 INVISION TECHNOLOGIES INC - 461851107SOLD 04/17/2003ACQ 450.0000 10/28/2002

100 .0000 02/03/2003250 .0000 12/10/2002

139 30 5 54008 .793908 .576013 .19

5482 .905482 .90

10 283 .5 110283 51

7435 .857435 .8 5

13249.0991 2 1 654127 44

68911 .6668911 . 66

20272 172027 2 . 1 7

6152 .216152 .2 1

18726 2 118726 .21

14902 .5723 53.0 4392 1 .731 568.6 97059 .1 1

15 453 406506 .698946 7 1

18 32 5 .933393 .691 357 486787 386787 38

36 28 1136 28 1 1

2509.882509 8 8

11 597 .1211 597 .12

12302 .051 2302 .05

64996 .9564996 .95

37999 .6237999 .62

10467 .791 0467 79

20349 0418721 .1 21627 .92

10062 664257 285805 .38

5682 075682 .07

17799 .161001 2 032224 .905562 24

4279 . 063476 . 205348 . 00

4642 . 49

7428 . 01

5749 . 05

23716 . 927197 . 00

68870 .99

16187 . 50

4625 . 00

1 2025.00

1 395 .972570.2 3616 50

4162 .5 1

3722 6 14972 00

4213 .752385 00

1 1925.001 1925 00

3914 . 34

2755 5 5

12400 03

13190 . 27

32557 . 80

16278 90

5490 00

10101 60904 . 40

2487 103475 . 50

11291 50

15385 502505 . 006195 00

-270 .27 POST-ST432 .37 POST-ST665 .19 POST-ST

840 .41 PRE-ST

2855 .50 POST-ST

1686 80 POST-ST

-14595 .27 POST-ST-3069 .56 POST-ST

40 .67 POST-ST

4084 . 67 PRE -ST

1527 . 21 POST -ST

6701 . 21 POST -ST

957 071351 50952 .1 9

2896 .60

278 4 .083974 71

-820 06- 1027 .52-5 1 37 62-5137 .6 2

-286 .23

POST -STPOST - STPOST-STPOST - ST

POS T-STPOS T-S T

PRE - STPRE -STPRE -STPRE -ST

POST-ST

-245 . 67 POST-ST

- 802 91 POST -ST

-888 . 22 POST-ST

32439 . 15 LT15

21720 . 72 LT15

4977 79 POST -ST

8619 . 52 POST-ST723 . 52 POST -ST

1770 1 8 POST - ST2329 . 88 POST -ST

-5609 43 PRE -ST

- 5373 . 47 PRE - ST-280 . 11 PRE - ST-632 76 PRE -ST





400.0000 INVISION TECHNOLOGIES INC - 46185110 7SOLD 08/14/2003ACO 400 .0000 05/29/2003

400.0000 INVISION TECHNOLOGIES INC - 46185110 7SOLD 08/20/2003ACQ 400.0000 05/29/2003

250.0000 INVESTORS FINL SERVICES CORP - 46191510 0SOLD 03/20/2003ACQ 250.0000 03/03/2003

350 .0000 INVESTORS FINL SERVICES CORP - 461915100SOLD 04/03/2003ACQ 350.0000 03/03/2003

400 .0000 INVESTORS FINL SERVICES CORP - 461915100SOLD 05/07/2003ACQ 400 0000 03/03/2003

600 .0000 IOMEGA CORP - 462030305SOLD 05/02/2003ACQ 600.0000 04/01/2003

1330 .0000 IRWIN FINL CORP - 46411910 6SOLD 02/02/2004ACQ 350 0000 10/01/2003

680 .0000 08/11/2003300 .0000 07/23/200 3

200 0000 J2 GLOBAL COMMNCTNS NEW - 46626E205SOLD 04/03/2003ACQ 200.0000 10/24/200 2

200.0000 J2 GLOBAL COMMNCTNS NEW - 46626E205SOLD 09/10/2003ACQ 100 0000 10/24/200 2

100 .0000 11/19/2002150.0000 J2 GLOBAL COMMNCTNS NEW - 46626E205

SOLD 09/12/2003ACQ 150.0000 11/19/2002

1150.0000 J2 GLOBAL COMMNCTNS NEW - 46626E205SOLD 11/12/2003ACQ 750 0000 11/19/2002

400 0000 12/11/2002300 0000 JABIL CIRCUIT INC - 466313103

SOLD 05/23/2003ACQ 300.0000 11/08/2002

2000 0000 JACUZZI BRANDS INC - 469865109SOLD 09/12/2003ACO 300 0000 06/23/200 3

1700 .0000 06/19/20031750 .0000 JACUZZI BRANDS INC - 469865109

SOLD 09/15/2003ACQ 1150 .0000 06/30/2003

600 .0000 06/23/20032200 .0000 JOHNSON&JOHNSON - 47816010 4

SOLD 05/23/2003ACQ 55 0000 07/02/2002

2145 0000 07/02/2002***ADDED*** 10/21/03 JEH

5589 0000 JOHNSON&JOHNSON - 478160104SOLD 06/06/2003ACO 3163 0000 07/02/2002

2426,0000 07/02/2002310 0000 JOURNAL REGISTER COMPANY - 481138105

SOLD 04/01/2003ACQ 310 0000 07/02/2002

1246 .0000 KT CORP ADR - 48268K101SOLD 05/13/2003ACQ 1246 .0000 07/05/2002

550 .0000 KEANE INC - 48666510 2SOLD 01/07/2004ACQ 550.0000 06/26/2003

300 0000 KEANE INC - 486665102SOLD 01/09/2004ACQ 50 0000 07/01/2003

250 .0000 06/26/2003220 .0000 KB HOME - 48666K10 9

SOLD 04/29/2003ACQ 220 0000 07/02/2002

260 .0000 KB HOME - 48666K10 9SOLD 06/12/2003ACO 260 .0000 07/02/2002

700 .0000 KELL'NOOD CO - 488044108SOLD 06/06/2003ACQ 500 0000 03/20/2003

200 .0000 04/02/20031300 .0000 KOMAG INC - 500453204

SOLD 02/26/2004ACQ 200 0000 01/29/2004

1100 0000 01/29/2004


SALES PR ICE COST BASIS GAIN/LOSS TERM----------- ---------- --------- ----

9566 .279566 .27

10030.2510030 .25

6246 .696246 .69

8890 . 328 890 .32

9300 .569300 .56

5513 . 745513 74

42982 . 1 211311 .0821975 .829695 .22

6549 . 496549 .49

7290 .59364 5 . 30364 5 .30

6422 . 3 36 422 .33

30440 .6819852 .6210588 .06

5916 .98591 6 . 98

1 15 4 5 .2517 3 1 .7998 1 3 .46

10429 5 16853 .6835 7 5 . 8 3

1 1 691 0 .00292 2 75

11 398 7 .25

9386 . 76

9386 . 76

6309 50

8833 . 30

10095 . 20

6660 .00

8585 . 5015348 . 216855 . 00

5472 . 00

1 368 .001 186 50

17 79 . 75

8898 . 753868 0 0

4763 .76

1634 . 998925 . 00

6382 .503270 . 01

2690 . 69121233 .35

179 .5 1 POST - ST

6 43 .49 POST-ST

-62 .81 PRE-ST

57 .02 PRE -ST

-794 .64 POST-ST

-1146 26 PRE-ST

2725 .58 POST-ST6627 .61 POST-ST2840 22 POST-ST

1077 .49 PRE-ST

2277 .30 POST-ST2458 .80 POST-ST

4642 .58 POST-ST

10953 .87 POST-ST6720 06 POST-ST

1153 .22 POST-ST


471 18 POST-ST305 .82 POST-ST

232 .06 POST-ST-7246 10 POST-S T

293967 . 64166366 . 01127601 . 63

4733 . 474733 . 47

24372 . 3524372 35

9503 559503 . 55

5119 . 6 2853 . 274266 35

10815 . 5010815 . 50

17481 . 5817481 . 58

21663 . 9815474 . 276189 . 7 1

29502 . 474538 8424963 63

178769 76119273 . 93

5372 55

54045 65

7177 50

675 003262 50

5128 50

6060 96

14340 005780 .00

0 .0021380 04

- 12403 . 75 POST - ST8327 . 70 POST -ST

-639 08 PRE - ST

-29673 30 POST-ST

2326 05 PO ST-ST

178 27 POST- ST1003 . 85 POST- ST

5687 .00 PRE-S T

11 420.62 POST-ST

1134 . 27 POST -ST40 9 . 7 1 PO ST- ST

4538 . 84 PO ST-ST3583 59 POST-ST

ACCT H268 656D4000FROM 03/01/2003TO 02/29/2004


PROPERTY DESCRIPT I ON--------------------

MERR I LL LYNCH TRUST COMPANY FSB PAGE 272STATEMENT OF CAPITAL GAINS AND LOSSE SORV ILLE & RUTH MERILLAT FDN RUN 06 /04/2004



SHARES DATE SALES PRICE COST BASIS GAIN/LOSS TERM------ ---- ----------- ---------- --------- ----

2257 .0000 KOMERCNI BKA SPNADR 3REP - 500459409SOLD 05/13/2003ACQ 411 .0000 07/05/2002

1846 .0000 07/05/2002150 .0000 LANDAMERICA FINANCIAL GRP IN - 514936103

SOLD 09/22/2003ACO 150 .0000 12/19/2002

400 .0000 LANUAMERICA FINANCIAL GRP IN - 514936103SOLD 09/25/2003ACQ 350.0000 12/19/200 2

50 0000 12/20/2002100 .0000 LANDSTAR SYS INC COM - 515098101

SOLD 09/09/2003ACQ 100.0000 09/06/2002

230 .0000 LANDSTAR SYS INC COM - 515098101SOLD 09/23/2003ACQ 30.0000 09/06/2002

150 .0000 04/24/200350 .0000 04/22/2003

4400 .0000 LEXMARK INTL INC CL A - 529771107SOLD 07/30/2003ACQ 4400.0000 02/25/2003

625 .0000 LIFEPOINT HOSPS INC - 53219L109SOLD 12/15/2003ACQ 225.0000 03/28/2003

100 .0000 04/29/2003300 .0000 04/17/200 3

4800 .0000 LINCARE HLDGS INC - 532791100SOLD 04/14/2003ACQ 4800 0000 11/07/2002

***ADDED*** 09/22/03 CER3200 .0000 LONMIN PLC SPON ADR - 54336Q203

SOLD 02/04/2004ACQ 3200.0000 08/05/2003

5600.0000 LOWES COMPANIES INC - 548661107SOLD 01/12/2004ACQ 5600 0000 08/28/2003

1000 0000 LUBRIZOL CORP - 54927110 4SOLD 11/20/2003ACQ 200 0000 07/14/2003

600 0000 06/19/2003100 0000 09/17/2003100 .0000 08/27/2003

500 .0000 MGI PHARMA INC - 552880106SOLD 12/01/2003ACQ 500.0000 09/25/2003

200 .0000 M / I SCHOTTENSTEIN HOMES IN - 55305810 1SOLD 12/15/2003ACQ 200.0000 08/28/2003

450.0000 M / I SCHOTTENSTEIN HOMES IN - 55305610 1SOLD 01/07/2004ACO 150 .0000 09/24/2003

150 .0000 08/28/2003150 .0000 09/30/200 3

350 .0000 MSC INDL DIRECT INC - 553530106SOLD 04/30/2003ACQ 350.0000 01/23/200 3

1050 .0000 MSC INDL DIRECT INC - 553530106SOLD 07/23/2003ACQ 450 0000 06/26/2003

600 .0000 01/23/2003100 .0000 MACERICH CO - 55438210 1

SOLD 12/17/2003ACQ 100.0000 09/06/2002

200 .0000 MACERICH CO - 55438210 1SOLD 12/19/2003ACQ 200 0000 09/06/2002

100 0000 MACERICH CO - 554382101SOLD 01/29/2004ACO 50 .0000 09/06/2002

50 .0000 09/06/2002280 0000 MACERICH CO - 55438210 1

SOLD 02/19/2004ACQ 50.0000 09/06/2002

150 0000 01/03/200380.0000 09/06/200 2

250 .0000 MACROVISION CORP COM - 555904101SOLD 09/23/2003ACQ 250.0000 06/03/200 3

150 .0000 MACROVISION CORP COM - 555904101SOLD 09/25/2003ACQ 150 0000 06/03/200 3

725 .0000 MAGMA DESIGN AUTOMATION - 559181102SOLD 05/23/2003ACQ 725.0000 12/03/2002

55293 .9110069 . 034 5224 . 88

7072 . 167072 . 16

18505 0116191 . 8823 13 . 13

6199 .706199.70

1512 5 . 10197 2 . 84986 4 203288 . 07

283345 . 41283345 41

1 7994 .9664 78 . 192879 . 198637 .5 8

146900 . 00146900.00

63997 0063997 .00

286758 .09286758 .09

29711 .0 05942 .20

1782 6 . 60297 1 . 102971 .10

19275 6919 275 .69

7888 .3378 88 .3 3

1 717 1 . 1 05723.705723.705723 70

6474 . 696474 69

20369 048729 . 5911639 . 45

4466 964466 . 96

8760 788760 . 78

4753 772376 . 892376 . 89

13892 . 212480 757442 263969 20

4790 . 604790 . 60

2915 .862915 8 6

12305 5712305 57

6870 8419868 . 83

5404 . 50

12610 . 501799 . 00

5170 . 90

1 55 1 .279292 .0 130 2 7 . 4 5

27083 4 .96

5494 .501 799 . 006495 . 48

163728 .00

43800 . 64

305943 . 68

6454 . 0019440 .003305 . 003370 00

20069 . 25

8638 . 79

6067 . 506479 . 116042 . 00

6369 . 99

7911 0010920 .01

3070 .00

6140 00

1535 . 001534 . 50

1534 . 504611 002455 . 20

4747 .67

2848 60

8743 50

3198 . 19 POST -ST25356 . 05 POST -ST

166 7 .66 POST-ST

3581 38 POST-ST514 . 13 POST -ST

1028 . 80 LT15

421 . 57 LT15572 . 19 POST - ST260 . 62 POST - ST

12510 . 45 POST -ST

983 . 69 POST -ST1080 . 19 POST -ST2142 . 10 POST - ST

- 16828 . 00 PRE -ST

20196 . 36 POST -ST

- 19185 59 POST -ST

-5 11 . 80 PO ST-ST- 1613 . 40 POST -ST-333 . 90 POST-ST-398 . 90 POST -ST

-793 56 POST -ST

-750 . 46 POST - ST

-343 . 80 POST -ST- 755 . 41 POST -ST- 318 . 30 POST -ST

104 . 70 PRE -ST

818 . 59 POST-ST719 . 44 POST- ST

1 396 . 96 LT1 5

2620 .78 LT15

841 .89 LT 1 5842.39 LT1 5

946 25 L T1 52 83 1 . 26 LT151514 . 00 L T15

42 .93 POST-ST

67 .26 POST -ST

356 2 .07 POS T-ST



TAX PREPARER: EXETRUST ADMINISTRATOR : MG1INVESTMENT OFFICER: CBH

PROPERTY DESCRIPTION SHARES DATE-------------------- ------

750 0000 MAGMA DESIGN AUTOMATION - 559181102SOLD 07/09/2003ACQ 300.0000 01/23/200 3

450.0000 12/03/2002500 .0000 MAGUIRE PROPERTIES INC - 559775101

SOLD 01/22/2004ACQ 300.0000 01/07/2004

200 .0000 12/29/2003475 .0000 MANHATTAN ASSOCS INC - 562750109

SOLD 06/05/2003ACQ 475.0000 03/03/200 3

5900 .0000 MARSH & MCLENNAN COS INC - 571748102SOLD 08/21/2003ACQ 5900 .0000 06/12/2003

1750 .0000 MAXTOR CORP NEW - 577729205SOLD 07/10/2003ACQ 1750 .0000 05/02/2003

500 .0000 MAXTOR CORP NEW - 57772920 5SOLD 09/19/2003ACQ 500.0000 05/02/2003

1300.0000 MAXTOR CORP NEW - 577729205SOLD 09/26/2003ACQ 650.0000 05/05/2003

650 .0000 05/02/2003320.0000 MCCLATCHY NEWSPAPERS A - 579489105

SOLD 09/24/2003ACQ 200.0000 09/06/2002

20 .0000 09/06/200250 .0000 10/02/200250 .0000 12/11/2002

4500 .0000 MEDTRONIC INC - 585055106SOLD 10/06/2003ACQ 4500 .0000 11/13/2002

3400 .0000 MEDTRONIC INC - 585055106SOLD 10/07/2003ACQ 3400.0000 11/13/2002

160.0000 MEMBERWORKS INC - 58600210 7SOLD 05/02/2003ACQ 160.0000 11/25/2002

1160.0000 MENTOR CRP MINN 1OCT - 58718810 3SOLD 07/09/2003ACQ 1160 0000 09/06/2002

7400 .0000 MERCK & CO INC - 589331107SOLD 08/05/2003ACQ 7400 .0000 12/09/2002

350 0000 MERIT MEDICAL SYS INC - 589889104SOLD 07/14/2003ACQ 250.0000 06/06/2003

100 .0000 09/06/2002650 .0000 METHODE ELECTRNCS CL A - 591520200

SOLD 12/16/2003ACQ 650.0000 07/02/2002

600 0000 METHODE ELECTRNCS CL A - 591520200SOLD 02/13/2004ACQ 600 0000 07/02/200 2

400 .0000 METHODE ELECTRNCS CL A - 591520200SOLD 02/19/2004ACQ 400.0000 07/02/200 2

250 .0000 METTLER-TOLEDO INTL INC - 592688105SOLD 02/25/2004ACQ 250.0000 04/14/200 3

850 .0000 METTLER-TOLEDO INTL INC - 592688105SOLD 02/26/2004ACQ 315.0000 04/14/200 3

535 .0000 04/24/20031575 .0000 MICREL INC - 59479310 1

SOLD 11/26/2003ACO 1575 .0000 09/11/2002

400.0000 MICREL INC - 59479310 1SOLD 01/26/2004ACQ 400.0000 09/11/2002

100.0000 MICROSTRATEGY INC CLA NE - 59497240 8SOLD 01/16/2004ACQ 100 0000 07/22/2003

1900 .0000 MICROMUSE INC - 595094103SOLD 05/19/2003ACQ 1850 .0000 04/16/2003

50 0000 04/24/2003950 .0000 MICROMUSE INC - 595094103

SOLD 05/29/2003ACQ 950 0000 04/24/2003

950 .0000 MICROMUSE INC - 595094103SOLD 06/02/2003ACQ 950 0000 04/24/2003


SALES PRICE COST BASIS GAIN/LOSS TERM----------- -- - - ------ --------- ----

1495 7 895983 .1689 74 .7 3

11819 .447091 .664727 .7 8

1 3346 . 4 913346 .49

295002 .71295002 .7 1

16624 2216624 22

6174 .716174 7 1

1 5692 .607846 . 307846 30

19823 .0712389 . 4212 38 . 943097 353097 .3 5

20 1365 .5720 1365 .5 7

153137 33153 1 37 .3 3

3 457 063 457 06

22305 .9822305 .98

404016 654040 1 6 .65

8056 87575 4 .912301 .96

7 1 51 687 1 5 1 68

7654 .867654 .86

5 1 39 795139 .79

10699 5 810699.58

35958 .781 3325 .9022632 88

26775 .0026775 00

6821 52682 1 .52

5727 .955727 .9 5

1 5710.7 415297 .30413 44

8806 278806 .27

8864 328864 32

2702 . 495427 . 00

7064 . 164828 . 00

9779 . 2 5

315806 . 35

9450 . 00

2700 . 00

3659 . 503510 .00

11380 . 001138 . 003100 . 002804 . 00

209 348 . 99

158 1 74 .8 1

3020 .80

18757 .20

440539 .02

496 9 .501729 .90

5503 .62

5080 . 26

3386 . 85

8131 . 10

10245 . 1918184 . 65

14175 . 00

3599 . 99

4087 . 6 7

10726 . 86351 . 30

6674 80

6674 . 80

3280 . 67 POST -ST3547 . 73 POST -ST

27 .50 POST-ST- 100 .22 POST-ST

3567 .24 POST-ST

-20803 . 64 POST-ST

7 17 4 . 22 POS T -ST

347 4 .71 POST -ST

4186 80 POST - ST43 36 . 30 POST -ST

1009 .42 LT15100 . 94 LT1 5- 2 . 65 POST -ST

293 . 35 POST -ST

- 7983 . 42 POST - ST

-5037 . 48 POST -ST

436 26 PRE-ST

3548 78 POS T-ST

-36522 . 37 PO ST-ST

785 4 1 POST-ST572 .06 POST-ST

1648 06 LT 15

2574 .60 LT15

1752 .94 LT15

2568 48 POST-ST

3080 714448 . 23

12600 00

3221 . 53

1640 . 28

4570 . 4462 14

2131 47

2 1 89 52

PO ST-STPOST -ST

LT15

L T 15

POST-ST

POST- STPOST-S T

POST -ST

POST -ST

ACCT H268 656D4000FROM 03/01/2003TO 02/29/2004



MERRILL LYNCH TRUST COMPANY FSB PAGE 274STATEMENT OF CAPITAL GAINS AND LOSSESORVILLE & RUTH MER ILLAT FDN RUN 06 /04/2004

TRUST YEAR ENDING 02 /29 /200 4


SHARES DATE SALES PRICE COST BASIS GA I N/LOSS TERM------ ---- ----------- ---------- --------- ----

590.0000 MID-ATLANTIC RLTY TR - 595232109SOLD 08/13/2003ACQ 100.0000 12/11/2002

300 .0000 11/13/2002190 .0000 12/19/2002

710 .0000 MID-ATLANTIC RLTY TR - 59523210 9SOLD 08/14/2003ACQ 260.0000 12/19/2002

450 .0000 01/09/200 3310.0000 MID ATLANTIC MED SVCS INC - 59523C107

SOLD 07/30/2003ACQ 100.0000 09/06/200 2

150 .0000 01/06/200360 .0000 09/06/2002

300.0000 MINE SAFETY APPL CO NPV - 602720104SOLD 02/17/2004ACQ 300.0000 11/25/2003

2825 .0000 MONOLITHIC SYSTEM TECH - 60984210 9SOLD 05/09/2003ACQ 2825 .0000 09/11/2002

450 0000 MONOLITHIC SYSTEM TECH - 60984210 9SOLD 07/01/2003ACQ 450.0000 09/11/2002

150 0000 MOTHERS WORK INC - 61990310 7SOLD 11/14/2003ACQ 150.0000 08/08/2003

250 .0000 MOVIE GALLERY INC - 624581104SOLD 09/10/2003ACQ 250.0000 09/06/2002

250.0000 MOVIE GALLERY INC - 624581104SOLD 09/26/2003ACQ 250.0000 09/06/2002

840.0000 MOVIE GALLERY INC - 624581104SOLD 12/17/2003ACQ 840.0000 09/06/2002

150.0000 MULTIMEDIA GAMES INC - 62545310 5SOLD 08/20/2003ACQ 150.0000 06/11/2003

250 .0000 MULTIMEDIA GAMES INC - 62545310 5SOLD 02/26/2004ACQ 250 0000 06/11/2003

350 .0000 MULTIMEDIA GAMES INC - 62545310 5SOLD 02/27/2004ACQ 350.0000 06/11/2003

4100 .0000 MYLAN LABORATORS INC - 62853010 7SOLD 02/17/2004ACQ 4100 .0000 07/30/2003

600.0000 NAM TAI ELECTRS INCSO .02 - 62986520 5SOLD 08/05/2003ACQ 600.0000 06/13/2003

400.0000 NAM TAI ELECTRS INC$0 02 - 62986520 5SOLD 08/06/2003ACQ 400.0000 06/13/2003

450.0000 NAM TAI ELECTRS INC$0 02 - 62986520 5SOLD 08/11/2003ACQ 450.0000 06/13/2003

450 .0000 NAM TAI ELECTRS INCSO 02 - 62986520 5SOLD 08/21/2003ACQ 200.0000 06/13/2003

250 .0000 07/23/20032025 .0000 NASSDA CORP - 63172M10 1

SOLD 06/24/2003ACQ 450.0000 09/25/2002

1575 .0000 09/11/200 2550 .0000 NATIONAL FUEL GAS - 636180101

SOLD 08/08/2003ACQ 550.0000 01/22/200 3

150 .0000 NATIONAL HEALTH INVS INC - 63633D104SOLD 01/30/2004ACQ 150.0000 12/29/200 3

250.0000 NATIONAL HEALTH INVS INC - 63633D104SOLD 02/02/2004ACO 150 0000 01/07/2004

100 .0000 12/29/2003250.0000 NATIONAL HEALTH INVS INC - 63633D104

SOLD 02/03/2004ACQ 100.0000 01/13/2004

150 .0000 01/07/2004200 .0000 NATIONAL-OILWELL INC - 637071101

SOLD 05/05/2003ACQ 200.0000 10/14/2002

600 0000 NATIONAL-OILWELL INC - 637071101SOLD 05/29/2003ACS 450 0000 10/14/200 2

150 0000 01/06/2003

12348 . 122092 . 906278 . 713976 . 5 1

14852 . 505438 .949413 . 5 6

18461 . 275955 . 258932 . 873573 . 15

7598 . 797598 . 79

20601 1920601 . 1 9

4113 .304113 .30

36 6 6 . 833666 . 83

526 4 .535264 .53

5000 .515000 .5 1

14825 .3014825 .30

3859.313859 31

9968 949968.9 4

15595 .3915595 39

10039 2 . 82100392 .82

14009 3 414009 .3 4

9083 .579083.57

9382 0 69382 06

1 0902 9848 45 776057 21

1 5919 . 403537 .6 4

12381 .76

12730 .861 2730 86

3863 .813863 .81

6 4 7 4 693884 .812589 .88

6478 .522591 413887 .11

4319 794319 .79

14279 3310709 .503569 .83

1720 . 004830 .003220 . 49

4407 . 017537 . 50

3511 . 004959 . 002106 . 60

6660 . 38

28645 . 50

4563 . 00

372 . 90 POST -ST1448 .71 POST-ST756 .02 POST-ST

1 03 1 .93 POST - ST1 876 .06 POST - ST

2444 . 25 POST-ST3973 . 87 POST-ST1466 .55 POST -ST

938 . 41 POST -ST

- 8044 .31 POST - ST

- 449 . 70 POST -ST

4700 . 70 - 1033 . 87 POST -ST

3477 .50 178 7 03 LT15

3 477 .50 1523 01 LT1 5

11 68 4 . 40 31 40 .90 LT 15

3551 .53 307 78 POST-S T

5919.22 40 49 72 POST-ST

8286 . 93

8 9465 .00

6536 .30

4357 .53

4902 .23

2 1 78 .773950.00

3055 .4 91 3432 39

1 1 423 50

3750 .00

37 4 1 002500.00

2519 493741 .00

3970 00

8932 503351 00

7308 46 POST-ST

10927 .82 POST-ST

7473 .04 POST-ST

4726 04 POST-ST

4479 .83 POST-ST

2667 00 POST-ST2107 .21 POST-ST

482 .15 POST-ST-1050 .63 POST-ST

1307 36 POST-S T

113 81 POST-ST

143 81 POST-ST89 88 POST-ST


349 79 PRE -ST

1777 00 POST -ST218 83 POST -ST

ACCT H268 656D4000FROM 03/01/2003TO 02/29/2004

MERRILL LYNCH TRUST COMPANY FSBSTATEMENT OF CAPITAL GAINS AND LOSSESORVILLE & RUTH MER I LLAT FDN


TAX PREPARER: EXETRUST ADMINISTRATOR : MG1INVESTMENT OFFICER : CBH


5000 .0000 NATUZZI S P A ADR - 63905A10 1SOLD 02/26/2004ACQ 5000.0000 09/10/2002

3300 .0000 NEIMAN MARCUS GROUP INC - 64020430 1SOLD 10/09/2003ACQ 3300 .0000 10/03/2002

250 .0000 NEW CENTURY FINCL CORP - 64352D10 1SOLD 02/26/2004ACQ 250.0000 05/05/2003

100 .0000 NEWFIELD EXPL CO - 651290108SOLD 01/13/2004ACQ 100.0000 09/06/2002

100.0000 NEWFIELD EXPL CO - 651290108SOLD 01/26/2004ACQ 100.0000 09/06/2002

100.0000 NEWFIELD EXPL CO - 65129010 8SOLD 01/28/2004ACQ 40 0000 11/26/2002

60.0000 09/06/200 2150 .0000 NEWFIELD EXPL CO - 651290108

SOLD 01/29/2004ACQ 150.0000 11/26/200 2

260 .0000 NEWFIELD EXPL CO - 651290108SOLD 01/30/2004ACQ 130.0000 11/26/2002

130.0000 11/26/20022800 .0000 NOKIA CORP SPONSORED ADR - 654902204

SOLD 04/10/2003ACQ 2800 .0000 09/25/2002

100 .0000 NU SKIN ENTERPRS A E .001 - 670187105SOLD 01/13/2004ACQ 100 0000 09/06/2002

600.0000 NU SKIN ENTERPRS A $ .001 - 67018T105SOLD 01/22/2004ACQ 600.0000 09/06/2002

300.0000 NU SKIN ENTERPRS A $ .001 - 670187105SOLD 01/28/2004ACQ 300 0000 09/06/2002

970 .0000 NU SKIN ENTERPRS A $ .001 - 670187105SOLD 02/24/2004ACQ 300.0000 01/13/2003

150.0000 09/26/200220.0000 09/06/2002200.0000 09/06/2002300.0000 06/11/2003

230 .0000 NUVEEN INVESTMENTS CL A - 67090F106SOLD 11/17/2003ACQ 200.0000 09/06/2002

30.0000 09/06/2002450 .0000 OSI SYSTEM INC - 671044105

SOLD 05/29/2003ACQ 450.0000 05/01/2003

850 0000 OSI SYSTEM INC - 67104410 5SOLD 06/13/2003ACQ 850.0000 05/01/2003

500.0000 ODYSSEY HEALTHCARE INC - 67611V101SOLD 07/02/2003ACQ 500.0000 09/11/2002

375 0000 ODYSSEY HEALTHCARE INC - 67611V10 1SOLD 07/07/2003ACQ 375.0000 09/11/2002

250 0000 ODYSSEY HEALTHCARE INC - 67611V10 1SOLD 08/07/2003ACQ 250.0000 09/11/2002

350 0000 OFFSHORE LOGISTICS INC - 67625510 2SOLD 03/04/2003ACQ 350.0000 01/02/2003

400 .0000 OFFSHORE LOGISTICS INC - 67625510 2SOLD 03/05/2003ACQ 200 .0000 01/02/2003

200.0000 02/06/20031300 0000 OIL STS INTL INC DEL COM - 678026105

SOLD 11/11/2003ACQ 400.0000 05/29/2003

900 .0000 02/27/2003600 0000 ONEOK INC (OKLAHOMA) - 682680103

SOLD 06/11/2003ACQ 600.0000 01/09/2003

1100 .0000 OPEN TEXT CORP - 683715106SOLD 12/08/2003ACQ 500.0000 11/05/2002

600 0000 11/25/2002700 0000 OPEN TEXT CORP - 683715106

SOLD 12/10/2003ACQ 200.0000 05/09/2003

500 .0000 11/25/2002

PAGE 27 5

RUN 06/04/2004


SALES PRICE COST BAS IS GAIN /LOSS TERM----------- ---------- --------- ----

52100 . 9652100 . 96

141224 . 81141224 . 81

11975 . 1111975 . 1 1

4600 . 234600 . 23

4874 . 774874 . 77

4869 . 771947 . 912921 . 86

7349 . 657349 . 65

12302 . 626151 . 316151 . 3 1

41046 .0741046 .07

2036 102036 . 1 0

12011 . 4312011 . 43

6000 . 886000 . 88

17965 245556 262778 1 3370 . 42

3704 . 175556 . 26

6038 .025250 4 5787 . 57

6724 . 176724 . 1 7

13599 . 3613599 36

18369 . 3918369 . 39

13712 . 9513712 . 95

10339 . 8610339 8 6

6422 306422 . 30

7047 783523 .893523 . 89

16114 434958 . 29

11156 14

12269 . 4212269 . 42

2161 7 . 2 89826 . 04

11791 24

13594 . 4 83884 . 149710 . 34

58750 . 00

79511 . 19

6745 . 66

3247 . 00

3247 . 00

1418 . 401 948 .20

5319 .00

4609 .804609 .80

3584 0 . 01

1198 99

7 194 00

3597 .00

3585 .001770.00239 80

239 8 012865 . 00

4448 00667 .20

68 47 . 92

12934.96

9344.90

7008.67

4672 .4 5

7783 68

4447 834150 .00

5260 0 00 00

11820 . 00

6475 . 007983 . 00

3070 . 006652 50

-6649 . 04 LT15

61713 . 62 LT15

5229 . 45 POST - ST

1353 . 23 LT1 5

1 62 7 .77 LT15

529 . 51 LT159 73 . 66 LT15

2030 . 65 LT15

1541 . 51 LT151541 . 51 LT1 5

5206 .0 6

837 .1 1

4817 . 43

2403 88

19 7 1 .261008 1 3130 . 6 2

130 6 . 16269 1 .26

802 . 451 20 .37

- 123 .75

664 . 40

9024 . 49

6704 .28

566 7 41

-1361 .38

-923 94-626 .11

-301 7 111156 .14

PRE -ST

LT15

LT 15

LT1 5

LT1 5LT15LT1 5LT15POST-ST

LT1 5LT 15

POST-ST

POST-ST

POST-ST

POST-ST

PO ST - ST

PRE-ST

PRE- STPRE - ST

POST-STPO ST -ST

449 .42 POST-ST

3351 .04 LT153808 .24 LT15

814 .14 POST-ST3057 .84 LT15

ACCT H268 656D4000FROM 03/01/200 3TO 02/29/2Q04



NERRILL LYNCH TRUST COMPANY FSB PAGE 276STATEMENT OF CAPITAL GAINS AND LOSSE SORVILLE & RUTH MERILLAT FDN RUN 06 /04/2004


LEGEND : F - FEDERAL S - STATE I - INHERITEDE - EXEMPT FR OM STATE U - ACQ COST UNKNOWN

SHARES DATE SALES PR I CE COST BAS IS GAIN/LOSS TERM------ ---- ----------- ---------- --------- ----

350 .0000 OPNE1 TECHNOLOGIES INC - 683757108SOLD 06/20/2003 4323 .55ACQ 350.0000 09/11/2002 4323 .55

1025 .0000 OPNET TECHNOLOGIES INC - 683757108SOLD 07/03/2003 12303.73ACQ 1025.0000 09/11/2002 12303 .73

250 .0000 OPNE1 TECHNOLOGIES INC - 683757108SOLD 12/24/2003 4174 73ACQ 250.0000 09/11/2002 4174 .73

1100 .0000 OPNET TECHNOLOGIES INC - 683757108SOLD 01/30/2004 18703.30ACQ 1100.0000 09/11/2002 18703 30

650.0000 OPTION CARE INC - 683948103SOLD 07/21/2003 7457.43ACQ 650.0000 06/18/2003 7457 .43

2100.0000 ORIX CORPORATION SP ADR - 68633010 1SOLD 04/15/2003 46197 83ACQ 100.0000 09/10/2002 2199 .90

1400.0000 11/19/2002 30798.55100 .0000 11/18/2002 2199 .90100 .0000 11/18/2002 2199 .90100 .0000 11/18/2002 2199 .90100 .0000 11/18/2002 2199 .90200 .0000 11/18/2002 4399 .79

350 .0000 OSHKOSH TRUCK CORP CL B - 68823920 1SOLD 05/23/2003 18965 .61ACQ 250.0000 09/23/2002 13546 .86

100 .0000 09/06/2002 5418 .751050 .0000 OWENS ILL INC - 69076840 3

SOLD 04/03/2003 9733 04ACQ 100.0000 09/06/2002 926 .96

900 .0000 09/06/2002 8342 .6150 .0000 09/06/2002 463 .48

2025 .0000 PDF SOLUTIONS INC COM - 69328210 5SOLD 03/14/2003 14390.43ACQ 1000.0000 09/12/2002 7106 .39

1025 .0000 09/11/2002 7284 .04500 0000 PDF SOLUTIONS INC COM - 69328210 5

SOLD 07/07/2003 5999 .71ACQ 500 0000 09/12/2002 5999 71

200.0000 PDF SOLUTIONS INC COM - 69328210 5SOLD 08/08/2003 2459 88ACQ 200.0000 09/12/2002 2459 .88

950 .0000 PDF SOLUTIONS INC CAM - 69328210 5SOLD 08/11/2003 11399.46ACQ 950.0000 09/12/2002 11399.46

100 .0000 PFF BANCORP INC - 69331W104SOLD 01/29/2004 3900.21ACQ 100.0000 10/14/2003 3900 21

100 .0000 PFF BANCORP INC - 69331W104SOLD 02/04/2004 3734 82ACQ 100 0000 10/14/2003 3734 .82

100 .0000 PFF BANCORP INC - 69331W104SOLD 02/11/2004 3831 82ACQ 50.0000 10/14/2003 1915 .91

50.0000 11/07/2003 1915 .91550 .0000 PFF BANCORP INC - 69331W10 4

SOLD 02/17/2004 19997.50ACQ 50.0000 11/07/2003 1817 95

200.0000 01/13/2004 7271 .82200.0000 01/07/2004 7271 .82100.0000 02/02/2004 3635 .91

150 .0000 PAC CAP BANCORP NEW NPV - 69404P10 1SOLD 09/11/2003 4755 39ACQ 150.0000 02/06/2003 4755 .39

710 0000 PAC CAP BANCORP NEW NPV - 69404P101SOLD 12/01/2003 26248.68ACQ 260.0000 02/12/2003 9612 .19

250.0000 02/06/2003 9242 .49200 .0000 03/03/2003 7393 99

100 .0000 PACARE HLTH SYS A NEW PACIFICARE HEALTH SYS INC NE - 695112102SOLD 10/21/2003 5522 74ACO 100 0000 07/02/2003 5522 .74

450 0000 PACARE HLTH SYS A NEW PACIFICARE HEALTH SYS INC NE - 695112102SOLD 11/25/2003 27646 .48ACQ 150.0000 07/23/2003 9215 .49

300 .0000 07/02/2003 18430 9950 .0000 PAXAR CORP COM - 704227107

SOLD 05/29/2003 547 47ACQ 50.0000 09/06/2002 547 .47

1620 .0000 PAXAR CORP COM - 70422710 7SOLD 06/03/2003 17911 .34ACQ 70.0000 09/06/2002 773 95

200 .0000 09/06/2002 2211 281350 0000 09/06/2002 14926 .12

2549 .15

7465 .38

1 820 .82

8011 .64

7572 50

3260 0041 300 002840 .002840 .002840.002840.005680 . 00

1 3572 .505760 .00

1 250 .0011340 .00

625 .00

6407 .806447 .25

3203 90

1281 .56

6087 .41

34 8 2 .48

3482 48

17 4 1 .2 41880 .00

1880 00739 9 . 887380 .003752 .20

4072 .50

6960 .206787 .505 694 .66

5000 00

8 1 30 .0015000 .00

804 .00

1 1 2 4 .203212 .00

21708 .00

17 74 . 40 POST -ST

4838 . 35 POST -ST

2353 .91 LT1 5

1069 1 . 66 LT1 5

-11 5 . 07 POST -ST

-1060 . 10 PRE -ST- 10501 . 4 5 PRE -ST

-640 . 10 PRE -ST-640 . 10 PRE -ST-640 . 10 PRE - ST-640 . 10 PRE -ST

- 1280 . 21 PRE -ST

-25 . 64 POST -ST-341 . 25 POST-ST

-323 04 PRE -ST- 2997 .39 PRE -ST-161 . 52 PRE -ST

698 .59 PRE-ST836 . 79 PRE -ST

2795 81 POST -ST

1178 . 32 POST -ST

5312 . 05 POST -ST

417 . 73 POST -ST

252 34 POST - ST

174 . 6 7 POST-ST35 91 POST-ST

-62 05 POST -ST-128 . 06 POST -ST- 108 . 18 POST -ST-1 16 .29 POST -ST

682 . 89 POST -ST

2651 99 POST - ST24 54 .99 POST - ST1699 33 POST - ST

522 .74 POST-ST

1085 49 POST-ST3430.99 POST-ST

-256 .53 POST-ST

-350 25 POST -ST- 1000 . 72 POST -ST- 6781 . 88 POST -ST

ACCT H268 656D4000 MERRILL LYNCH TRUST COMPANY FSBFROM 03/01/2003 STATEMENT OF CAPITAL GAINS AND LOSSESTO 02/29/2004 ORVILLE & RUTH MERILLAT FDN

PAGE 277

RUN 06 /04 /2004


TAX PREPARER : EXETRUST ADMINISTRATOR : MG1 LEGEND : F - FEDERAL S - STATE I - INHERITEDINVESTMENT OFFICER :CBH E - EXEMPT FROM STATE U - ACQ COST UNKNOWN

PROPERTY DESCRIPTION SHARES DATE SALES PRICE COST BAS IS GA I N/LOSS TE RM-------------------- ------ ---- ----------- ---------- --------- ----

1000 .0000 PEC SOLUTIONS INC COM - 705107100SOLD 05/09/2003ACQ 1000 .0000 09/11/2002

850.0000 PEC SOLUTIONS INC COM - 705107100SOLD 06/06/2003ACQ 350.0000 09/19/2002

500 .0000 09/11/2002900.0000 PEC SOLUTIONS INC COM - 705107100

SOLD 08/15/2003ACQ 250.0000 12/31/2002

200 .0000 09/19/2002450 .0000 03/05/2003

400 .0000 PEC SOLUTIONS INC COM - 705107100SOLD 08/18/2003ACQ 400.0000 03/05/2003

200.0000 PEC SOLUTIONS INC COM - 70510710 0SOLD 08/19/2003ACQ 25 .0000 03/06/2003

75 .0000 03/05/2003100.0000 03/07/2003

525 .0000 PEC SOLUTIONS INC COM - 705107100SOLD 11/11/2003ACQ 525.0000 03/07/2003

1050 .0000 PEC SOLUTIONS INC COM - 705107100SOLD 11/26/2003ACQ 150.0000 07/17/200 3

275 .0000 07/07/2003450 .0000 04/15/2003175 .0000 04/02/2003

50 0000 PEC SOLUTIONS INC COM - 705107100SOLD 12/01/2003ACQ 50.0000 07/17/2003

450 .0000 PEC SOLUTIONS INC COM - 705107100SOLD 12/15/2003ACQ 450 0000 07/17/2003

975 0000 PEC SOLUTIONS INC COM - 705107100SOLD 12/24/2003ACQ 800.0000 07/17/2003

175 .0000 09/09/20033100 0000 PECHINEY SPONSORED ADR - 705151207

SOLD 05/23/2003ACQ 3100 .0000 09/10/200 2

100 .0000 PEDIATRIX MED GROUP - 705324101SOLD 12/16/2003ACQ 100 0000 10/08/2002

100 0000 PEDIATRIX MED GROUP - 705324101SOLD 12/24/2003ACQ 100.0000 10/08/2002

450.0000 PEDIATRIX MED GROUP - 705324101SOLD 01/05/2004ACQ 450 0000 10/08/200 2

275 .0000 PEDIATRIX MED GROUP - 705324101SOLD 01/20/2004ACQ 275.0000 10/08/200 2

100 .0000 PEDIATRIX MED GROUP - 705324101SOLD 02/17/2004ACQ 100.0000 10/08/2002

250 .0000 PENN VIRGINIA CORP - 707882106SOLD 03/25/2003ACQ 250.0000 01/13/2003

300 .0000 PENN VIRGINIA CORP - 707882106SOLD 04/03/2003ACQ 150.0000 02/03/2003

150.0000 02/04/2003450.0000 PEOPLES ENERGY CORP - 711030106

SOLD 10/20/2003ACQ 450.0000 08/19/2003

500 .0000 PERRIGO CO - 714290103SOLD 09/11/2003ACQ 500.0000 01/29/2003

1500 .0000 PETRLEO BRAS VTG SPD ADR - 71654V40 8SOLD 01/21/2004ACQ 1500 .0000 11/04/2002

5000 .0000 PFIZER INC DEL PVS0 .05 - 71708110 3SOLD 08/15/2003ACQ 5000 .0000 04/14/2003

6800 0000 PFIZER INC DEL PV$0 05 - 717081103SOLD 08/21/2003ACQ 6800 .0000 04/14/2003

7700 .0000 PFIZER INC DEL PV$0 .05 - 717081103SOLD 08/22/2003ACQ 6300,0000 04/14/2003

1400 .0000 06/18/2003

13866 . 9513866 . 95

13114 . 885400 . 247714 . 64

18908 . 1 15252 . 254201 . 809454 .06

8399 . 608399 . 60

4201 80525 . 23

1575 . 682100 . 90

8961 . 338961 . 3 3

18984 .902712 . 134972 . 248136 . 393164 . 1 5

900 . 85900 . 85

7661 . 307661 . 30

16199 9413292 .262907 .68

43087 . 9843087 . 98

5339 . 975339 . 97

5499 295499 . 29

24856 .8324856 .83

15991 9315991 . 93

5872 . 535872 . 53

9252 . 549252 . 54

11639 . 455819 . 735819 . 73

18426 .6318426 .63

6917 . 126917 . 1 2

50208 . 2050208 . 20

156992 . 65156992 . 65

200683 .76200683 .76

228878 . 71187264 . 4041614 31

24920 .00

7857 .5012460 .01

7499.754490.007555 .09

6715 .64

406 .731 259 .191635 .47

8586 .22

2698 .504829 . 475509 . 442173 .33

899 .50

8095 .50

1 4392 00284 7 .33

54527 45

3218 82

3218 .83

14484 .73

8851 .79

321 8 . 83

899 7 .50

5220 . 005340 .00

18187 07

6050.00

20100.00

159068 .99

216333 84

200426.955 1068.78

-11053 .05

-2457 .26-47 45 37

-224 7 .5 0-288 .201898 .97

1683 .96

118 .50316 .49465 . 43

375 .1 1

13 . 63142 . 77

26 26 . 95990 . 82

1 .35

- 43 4 .20

-1099 .7460 .35

- 114 39 . 47

2121 15

2280 . 46

103 72 . 10

7140 14

2653 70

255 0 4

599 . 73479 .73

239 56

867 .1 2

30108 .20

-2076 34

-15650 .08

-13162 .5 5-9 454 . 47

POST-ST

POST-STPOST-ST


POST-ST


POST-ST

POST-STPOST-STPOST-STPOST-ST

POST-ST

POST-ST

POST-STPOST-ST

POST-ST

171 5

LT15

LT15

LT15

LT15

PRE-ST

PRE-STPRE-ST

POST-ST

POST-ST

LT15

POST-ST

POST-ST

POST-STPOST-ST

ACCT H268 656D4000FROM 03/01/200 3TO 02/29/2004



MERRILL LYNCH TRUST COMPANY FSBSTATEMENT OF CAPITAL GAINS AND LOSSESORVILLE & RUTH MERILLAT FDN


PAGE 27 8

RUN 06 /04/2004


SHARES DATE SALES PR ICE COST BASIS GAIN/LOSS TERM------ ---- ----------- ---------- --------- ----

1050 .0000 PHOTRONIC LABS INC COM - 71940510 2SOLD 12/12/2003 19683.00ACQ 350.0000 11/18/2003 6561 .00

100 .0000 10/22/2003 1874 .57600 .0000 09/10/2003 11247 .43

1410 .0000 PIONEER STD ELECTRNC - 723877106SOLD 06/03/2003 12547.99ACQ 1410.0000 04/03/2003 12547 .99

1400 .0000 PIXELWORKS INC COM - 72581M107SOLD 08/06/2003 10558.72ACQ 650.0000 04/22/2003 4902 .26

750 .0000 03/19/2003 5656 .46600 .0000 PIXELWORKS INC COM - 72581M107

SOLD 08/14/2003 4646 .30ACQ 600.0000 06/23/2003 4646 .30

1800 .0000 PIXELWORKS INC COM - 72581M107SOLD 08/25/2003 16210.76ACQ 1800.0000 06/23/2003 16210 .76

950 .0000 PLEXUS CORP COM - 729132100SOLD 01/26/2004 21700 .21ACQ 875.0000 11/11/2002 19987 .04

75 .0000 11/25/2002 1713 .17940 .0000 POLO RALPH LAUREN COR - 73157210 3

SOLD 10/08/2003 26479.88ACQ 150.0000 04/16/2003 4225 .51

350 .0000 09/24/2002 9859 .5340 .0000 09/06/2002 1126 .80400 0000 09/06/2002 11268.03

1325 .0000 POLYCOM INC - 73172K104SOLD 03/12/2003 11925 .17ACQ 1325 .0000 09/11/2002 11925 17

1100 .0000 POLYCOM INC - 73172K104SOLD 04/25/2003 10584 .91ACO 450.0000 10/30/2002 4330 .19

650 .0000 09/11/2002 6254 .72300 .0000 POLYMEDICA INDS INC - 731738100

SOLD 12/10/2003 7009 .68ACQ 300 0000 09/16/2003 7009 .68

200 .0000 POLYMEDICA INDS INC - 731738100SOLD 12/11/2003 4459 .79ACQ 200.0000 10/13/2003 4459 79

550 .0000 POLYMEDICA INDS INC - 731738100SOLD 12/12/2003 12443 .22ACQ 150.0000 10/13/2003 3393 .61

400 .0000 10/17/2003 9049 .61900 .0000 POSSIS CORP - 737407106

SOLD 10/30/2003 14407 .69ACQ 375.0000 05/15/2003 6003 .20

525 .0000 06/24/2003 8404 .492400 0000 PRIORITY HEALTHCARE 'B' PRIORITY HEALTHCARE CORP - 74264710 2

SOLD 09/25/2003 51237 .12ACO 900 .0000 07/15/2003 19213 92

550 .0000 11/26/2002 11741 .84100 .0000 03/05/2003 2134 .88525 .0000 06/18/2003 11208 12325 .0000 06/24/2003 6938 36

4432 .0000 PROCTOR GAMBLE - 74271810 9SOLD 07/24/2003 394262 .45ACQ 1232 0000 06/12/2000 109596 .42

3200.0000 11/07/2002 284666 .0350 .0000 PROVIDENT FINCL GP INC - 74386610 5

SOLD 06/06/2003 1305 .93ACQ 50.0000 05/02/2003 1305 .93

500 .0000 PROVIDENT FINCL GP INC - 74386610 5SOLD 10/28/2003 14379 .97ACQ 300 0000 05/05/2003 8627 .98

200 0000 05/02/2003 5751 .99200 .0000 PROVIDENT FINCL GP INC - 74386610 5

SOLD 11/13/2003 5976 .38ACO 200 .0000 05/05/2003 5976 .38

600 .0000 PROVIDENT FINCL GP INC - 74386610 5SOLD 11/14/2003 17806 .20ACQ 250.0000 09/23/2003 7419 .25

250 .0000 07/10/2003 7419 .25100 .0000 05/05/2003 2967 .70

50 .0000 QLOGIC CORP - 747277101SOLD 07/01/2003 2374 .39ACQ 50.0000 02/05/2003 2374 .39

150 .0000 QLOGIC CORP - 74727710 1SOLD 12/04/2003 8190 .71ACQ 150.0000 02/05/2003 8190 71

540 .0000 QUANEX CORP - 747620102SOLD 10/07/2003 18629 12ACQ 40.0000 09/06/2002 1379 .93

100 .0000 09/06/2002 3449 .84400 .0000 09/06/2002 13799 35

6576 .502188 .00

1 5184 . 44

12548 .01

4177 . 164207 .50

3762 . 90

11 288 70

9555 .001057 .50

3516 .007402 .50904 . 40

9044 00

1269 8 .53

4469 . 136229 .48

8047 .50

5562 .82

4 172 .121111 7 .0 4

6261 .71806 4 .16

17466 .0312375 .002420 .009 975 006053 .39

69405 .23281888 .00

1177 .37

7098 .004709 . 48

4732 00

7091 286604 .282366 00

17 48 .00

5244 .00

1581 603954 .0015820 00

-15 . 50 POST -ST-313 . 43 POST -ST

-3937 . 01 POST -ST

-0 . 02 POST -ST

725 .10 POST - ST1448 . 96 POST-ST

883 . 40 POST -ST

4922 . 06 POST -ST

10432 . 04655 67

709 . 512457 .03222 402224 .03

-7 7 3 . 36

- 138 . 9425 .2 4

-1037 .82

-1103 .03

-778 .51-2067 43

-258 .5 1340 .3 3

LT15LT1 5

POST-STLT15LT15LT1 5

PRE-ST

PRE-STPRE-ST

POST-ST

POST-ST

POST-STPOST-ST

POST-STPOST-ST

1747 .89 POST -ST-633 . 16 POST -ST-285 . 12 POST -ST1233 . 12 POST - ST884 . 97 POST -ST

40191 . 19 LT152778 .03 POST - ST

128 . 56 POST-ST

1529 . 98 POST -ST1042 51 POST -ST

1244 . 38 POST -ST

327 . 97 POST - ST814 . 97 POST - ST601 70 POST -ST

626 39 POST -ST

2946 . 71 POST -ST

-201 . 67 LT15-504 . 16 LT15

- 2020 . 65 LT15

ACCT H268 65604000FROM 03/01/200 3TO 02/29/2004

TAX PREPARER : EXETRUST ADMIN I STRATOR : MG1INVESTMENT OFFICER : CBH

PROPERTY DESCR I PTION--------------------

MERRILL LYNCH TRUST COMPANY FSB PAGE 279STATEMENT OF CAPITAL GAINS AND LOSSESORVILLE & RUTH MER ILLAT FDN RUN 06 /04/2004

TRUST YEAR ENDING 02 /29 /20 0 4


SHARES DATE SALES PRICE COST BASIS GAIN /LOSS TERM------ ---- ----------- ---------- --------- ----

1650 . 0000 RC2 CORP - 749388104SOLD 0 6/ 11 /2003ACO 500 . 0000 11 /01 /2002

150 .0000 11 /01 /2002200 . 0000 11 /01 /2002700 . 0000 04 /30 /2003100 . 0000 12 /11 /200 2

550 . 0000 RSA SECURITY INC COM - 749719100SOLD 02 /12/200 4ACQ 550 . 0000 10/28/2003

1 200 . 0000 RSA SECURITY INC COM - 749719 100SOLD 02/2 4/2004ACQ 1200 .0000 10/28/200 3

730 0000 RALCORP HLDGS INC NEW - 751028101SOLD 0 1/07/2004ACQ 580 .0000 10/18/2002

150 . 0000 12/20/20021 50 . 0000 REG IS CORP M INN - 7589 32107SOLD 0 1/29/2004ACQ 1 50 .0000 11 /26/2002

100 . 0000 RENT-A -CENTER I NC COM - 76009N100SOLD 04 /28 /2003ACQ 100 .0000 09 /06 /2002

230 .0000 RENT -A - CENTER INC COM - 76009N100SOLD 06/25/2003ACQ 50 . 0000 09/24/2002

180 . 0000 09/06/20022000 . 0000 REPSOL S A - 76026720 5

SOLD 04/24/2003ACQ 2000 .0000 1 1/25/2002

1 25 . 0000 RESOURCES CONNECTION I NC - 76122Q1 05SOLD 0 3/1 2/2003ACQ 1 25 . 0000 09/11 /2002

8 75 . 0000 RESOURCES CONN EC T ION I NC - 76 122Q105SOLD 04 /07/2003ACQ 87 5 .0000 09/11 /2002

700 0000 REY N OLDS&REYNOLDS A - 761695105SOLD 06/25/2003ACQ 700 0000 03/28/2003

1 265 0000 RI GHT MGMT CONSULTNS INC - 766573 109SOLD 11/20/ 2003ACQ 300 .0000 1 0/10/ 2003

200 .0000 1 0/08/2003500 . 0000 1 1/05/2002100 .0000 11/05/20021 65 0000 09/06/2002

550 . 0000 ROADWAY EXPRES S I NC D EL - 7697 42107SOLD 0 7/09/2003ACQ 5 50 . 0000 09/06/2002

250 .0000 ROADWAY EXPRESS I NC DEL - 7 6974 2 107SOLD 08 /11 /2003ACQ 2 50 .0000 09/06 /2002

120 0000 ROADWAY E XPRESS INC DEL - 76 9742107SOLD 08 /14/2003ACQ 1 20 .0000 09 /06/2002

120 0000 ROADWAY EXPRESS INC DE L - 7697 42107SOLD 08/18/2003ACQ 120 . 0000 09/06/2002

150 .0000 ROF I N S I NAR TECHNOLOGI ES I NC - 775043102SOLD 1 1/06/2003ACQ 150 . 0000 07/10/ 2003

100 . 0000 ROFIN S I NAR TECHNO LOGI ES I NC - 77 504 3 1 02SOLD 02/0 6/2004ACQ 1 00 . 0000 07/10/2003

310 . 0000 ROLLINS I NC - 77571110 4SOLD 04/29/2003ACQ 1 0 .0000 1 1 / 1 3/2002

300 .0000 11 / 13/20025000 0000 ROLLS-ROYCE PLC SPONSORED AD R - 775781206

SOLD 10/01/200 3ACQ 5000.0000 12/04/2002

50.0000 ROS L YN BANCORP INC COM - 778162107SOLD 04 / 23/2003ACQ 50.0000 09/06/2002

1640 .0000 ROSLY N BANCORP INC COM - 77816210 7SOLD 06/06/2003ACQ 750 .0000 09 /06/2002

790 .0000 0 9/06/2002100 . 0000 09 /06/2002

9800 .0000 ROSLYN BANCORP I NC COM - 77816 2107SO LD 07/30/2003ACQ 6700 0000 09/18/2002

3100 .0000 1 1/14/2002

29552 . 598955 . 332686 . 603582 . 1 3

12537 . 461791 .07

9718 .049718 0 4

19299 2019299 . 20

23126 6218374 . 574752 .05

6342 . 666342 .66

6179 . 716179 . 7 1

17289 . 233758 . 5313530 . 70

29738 . 6029738 . 60

2446 . 412446 . 41

18821 . 4118821 41

19284 . 0919284 . 09

22552 . 755348 483565 658914 . 131782 . 832941 6 6

25438 . 9425438 94

11904 . 6711904 . 67

5749 . 345749 34

5764 . 635764 . 63

4234 . 514234 . 51

3170 .053170 . 05

7501 64241 997259 65

67746 . 8267746 . 82

960 48960 48

34115 . 1615601 .4516433 . 522080 . 1 9

222594 62152182 . 0470412 58

6390 .001917 . 00255 6 . 00

11151 . 981524 . 00

7272 .81

15867 .97

12263 . 8 73675 .00

3979 .50

575 7 . 90

2527 .0010364 .2 2

24612 . 40

2238 .28

1 5668 . 0 1

1 7556 .00

556 5 .003750 .006970 .001393 . 002497 .00

160 21 . 49

7282 . 50

3495 . 60

3495 . 61

2379 5 1

1586 . 34

161 3 34840 . 00

50342 . 50

1093 . 50

16402 . 5117340 . 502190 . 00

120499 5054250 . 00

2565 . 33 POST - ST769 .60 POST- ST

1026 . 13 POST-ST1 385 . 48 POST-ST267 . 07 POST-ST

2445 . 23 POST -ST

3431 . 23 PO ST-ST

6110.70 LT151077 . 0 5 LT1 5

2363 . 16 LT15

421 . 81 PRE - ST

1231 . 53 POST-ST3166 . 48 POST -ST

512 6 . 20 PRE -ST

208 . 13 PRE- ST

3 1 53 . 40

1 728 .09

- 21 6 .52- 184 . 3 51944 . 1 3389 . 83444 . 66

941 7 . 45

4622 1 7

2253 . 74

2269 . 02

1855 .00

1583 . 71

80 . 662419 . 65

17404 . 32

- 133 .02

-801 06-906 . 98-109 8 1

31682 5416162 58

PRE -ST

POST-ST

POST-STPOST-STLT 15LT15LT1 5

POST-ST

POST-ST

POST-ST

POST-ST

POST-ST

POST-ST

PRE-STPRE -ST

POST-ST

PRE-ST


POST-STPOST-ST

AGGI N268 65604000FROM 03/01/2003TO 02/29/2004

TAX PREPARER : EXETRUST ADMIN I STRATOR : MG1I NVESTMENT OFFICER : CBH


MERR ILL LYNCH TRUST COMPANY FSB PAGE 280STATEMENT OF CAPITAL GAINS AND LOSSE SORV I LLE & RUTH MERILLAT FDN RUN 06/04/2004

TRUST YEAR ENDING 02 /29 /2004


SHARES DATE SALES PRICE COST BAS IS GAIN /LOSS TERM------ ---- ----------- ---------- --------- ----

825 .0000 RUDOLPH TECHNOLOGIES INC - 781270103SOLD 04/07/2003ACQ 150 0000 10/07/2002

675 .0000 09/11/2002850 .0000 RUDOLPH TECHNOLOGIES INC - 781270103

SOLD 06/06/2003ACQ 25.0000 12/09/2002

825 .0000 10/07/2002200 0000 RUDOLPH TECHNOLOGIES INC - 781270103

SOLD 06/18/2003ACQ 200.0000 12/09/2002

350 .0000 RYANAIR HLDGS PLC SP ADR - 783513104SOLD 06/12/2003ACQ 350.0000 09/16/2002

3600.0000 RYANAIR HLDGS PLC SP ADR - 783513104SOLD 09/03/2003ACQ 3600.0000 05/13/200 3

100.0000 S & T BANCORP INC - 783859101SOLD 09/09/2003ACQ 100.0000 03/04/2003

100 .0000 S & T BANCORP INC - 783859101SOLD 09/10/2003ACQ 100.0000 03/04/2003

100 .0000 S & T BANCORP INC - 783859101SOLD 09/11/2003ACQ 100.0000 03/04/2003

480 0000 S & i BANCORP INC - 783859101SOLD 11/06/2003ACQ 100.0000 03/17/2003

180 0000 03/06/2003200 .0000 03/04/2003

35300 0000 SCMP GROUP LTD SPON ADR - 78402H10 2SOLD 03/27/2003ACQ 35300.0000 09/10/2002

1200 .0000 SLM CORP - 78442P10 6SOLD 10/29/2003ACQ 1200.0000 11/07/2002

7700 .0000 SLM CORP - 78442P10 6SOLD 12/19/2003ACQ 7700.0000 11/07/2002

4300 .0000 SLM CORP - 78442P10 6SOLD 01/29/2004ACQ 4300 .0000 11/07/2002

4200 .0000 SLM CORP - 78442P106SOLD 02/04/2004ACQ 4200 .0000 11/07/2002

350 .0000 SRA INTERNATIONAL INC A - 78464810 5SOLD 07/01/2003ACQ 350.0000 04/29/2003

400 .0000 SRA INTERNATIONAL INC A - 78464810 5SOLD 07/02/2003ACQ 150.0000 04/29/2003

50 .0000 06/10/2003200 .0000 06/03/2003

2400 .0000 SANMINA CORP - 80090710 7SOLD 07/02/2003ACQ 2400.0000 09/11/2002

1175 .0000 SANMINA CORP - 800907107SOLD 10/24/2003ACQ 250.0000 11/25/2002

925 .0000 11/11/2002400 .0000 SANMINA CORP - 800907107

SOLD 01/21/2004ACQ 400.0000 11/25/2002

1375 .0000 SANMINA CORP - 80090710 7SOLD 01/26/2004ACQ 675 0000 07/22/2003

700 0000 11/25/20021230 .0000 SCHERING AG ADR - 806585204

SOLD 02/06/2004ACQ 1230 0000 11/13/2002

560 .0000 SCHERING AG ADR - 806585204SOLD 02/09/2004ACQ 365 0000 04/03/200 3

195 0000 11/13/2002

11072 .052013 109058 .95

12831 .67377 .40

1245 4 .27

34 58.153 458 1 5

14198 .8314198 . 8 3

158104 . 601 58104 . 60

2855 .002855 .00

285 1 .7228 5 1 .72

2790.002790 . 00

14657 453053 645 496 546 1 07 27

60008 4860008 . 48

47265 .7847265 7 8

276 467 .88276467 88

162967 .53162967 .53

167751 .90167751 .90

11 1 46 971 1 1 46 .97

1 2322 .264620 .8 51540 .28616 1 . 1 3

16368 .4316368 . 4 3

1 101 5 .112343 .648671 .47

5583 735583 .7 3

17869 .218772 . 1 69097 .0 5

62690 .4162690 . 41

28821 6818785 5610036 12

1488 . 719679 . 98

387 . 008187 . 97

3096 .02

11229 . 37

146919 . 24

2564 . 99

2564 . 99

2564 . 98

2610 . 004677 . 415129 . 99

81190 . 00

41318 . 12

265124 . 60

148056 . 59

144613 . 43

9051 . 00

3879 . 001527 . 505810 . 00

9545 . 28

1047 . 952662 89

1676 . 71

5197 . 432934 . 2 7

58666 . 45

15257 . 009300 78

524 .39-62 1 .03

-9.604266.30

362 . 1 3

2969 . 46

11185 .36

290 .01

286 . 73

225 .02

443 .64819 . 13977 . 28

-2 1 181 52

5947 .66

11343 28

14 910 94

23138 . 47

2095 .97

741 . 8 512 .78

35 1 .13

6823 .15

1295 .696008 .58

3907 .02

357 4 .736162 .78

4023 .96

3528 .56735 34

PRE-STPRE-ST

POST-STPOST-ST

POST-ST

POST-ST

POST-ST

POST-ST

POST-ST

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PRE-ST

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ACCT H268 656D40 90 MERRILL LYNCH TRUST COMPANY FSBFROM 03/01/2003 STATEMENT OF CAPITAL GAINS AND LOSSESTO 02/29/2004 ORVILLE & RUTH MERILLAT FON

PAGE 28 1

RUN 06 /04/2004


TAX PREPARER : EXETRUST ADMINISTRATOR : MG1 LEGEND : F - FEDERAL S - STATE I - INHERITEDINVESTMENT OFFICER :CBH E - EXEMPT FROM STATE U - ACQ COST UNKNOWN

PROPERTY DESCRIPT ION SHARES DATE SALES PRICE COST BAS IS GA I N /LOSS TERM-------------------- ------ ---- ----------- ---------- --------- --- -

1200 .0000 A SCHULMAN INC - 808194104SOLD 06/18/2003 20771 .38ACQ 200.0000 02/12/2003 3461 .90

500 .0000 10/23/2002 8654 .74500.0000 10/23/2002 8654 .74

3400.0000 SCIENTIFIC ATLANTA - 80865510 4SOLD 07/07/2003 86246.48ACQ 3400 0000 09/06/2002 86246 .48

2300.0000 SCIENTIFIC ATLANTA - 80865510 4SOLD 07/07/2003 59464 .40ACQ 2300.0000 09/06/2002 59464.40

1300.0000 SCIENTIFIC ATLANTA - 808655104SOLD 09/04/2003 45497 .87ACQ 1300.0000 09/06/2002 45497 .87

200.0000 SCIENTIFIC GAMES CORP A - 80874P109SOLD 02/09/2004 3208 .90ACQ 200.0000 12/17/2003 3208 .90

950 .0000 SCIENTIFIC GAMES CORP A - 80874P10 9SOLD 02/10/2004 15248 .78ACQ 950.0000 12/17/2003 15248 78

250 .0000 SELECT COMFORT CORP - 81616X103SOLD 02/10/2004 5783 .25ACQ 250.0000 01/16/2004 5783 .25

850 .0000 SELECT COMFORT CORP - 81616X103SOLD 02/11/2004 20118 .55ACQ 850.0000 01/16/2004 20118 .55

450 .0000 SEROLOGICALS CORP - 81752310 3SOLD 01/30/2004 7274.26ACQ 450.0000 09/06/2002 7274 26

770.0000 SEROLOGICALS CORP - 817523103SOLD 02/05/2004 12142 .56ACQ 50.0000 09/06/2002 788.48

200.0000 09/06/2002 3153 .91250.0000 09/06/2002 3942 .39170 .0000 09/06/2002 2680 .82100 .0000 09/06/2002 1576 .96

275 .0000 SHIRE PHARMECEU GP ADR SHIRE PHARMACEUTICALS GROUP - 82481810 6SOLD 05/16/2003 5890.22ACQ 275 0000 09/12/2002 5890 22

200 0000 SHIRE PHARMECEU GP ADR SHIRE PHARMACEUTICALS GROUP - 824818106SOLD 07/03/2003 3837 90ACQ 200.0000 09/12/2002 3837 90

2250 .0000 SHIRE PHARMECEU GP ADR SHIRE PHARMACEUTICALS GROUP - 824818106SOLD 12/17/2003 60919 27ACQ 825.0000 09/12/2002 22337 .07

650 .0000 04/21/2003 17598 90775 .0000 10/04/2002 20983 30

350 .0000 SHOPKO STORES INC - 82491110 1SOLD 09/22/2003 5617 .23ACQ 350.0000 09/06/2002 5617 .23

450 .0000 SHOPKO STORES INC - 82491110 1SOLD 09/25/2003 7290 .73ACQ 350.0000 09/06/2002 5670 .57

40 .0000 09/06/2002 648 0660 .0000 09/24/2002 972 10

640 .0000 SHOPKO STORES INC - 82491110 1SOLD 01/09/2004 9352 84ACQ 640.0000 09/24/2002 9352 .84

650 .0000 SHOPPERS DRUG MART INC - 82509W10 3SOLD 06/06/2003 4103 .19ACQ 650.0000 03/12/2003 4103 .19

400 .0000 SICOR INC - 825846108SOLD 03/05/2003 6058 .25ACQ 400.0000 09/06/2002 6058 .25

1220 .0000 SICOR INC - 82584610 8SOLD 06/19/2003 26545 10ACQ 620.0000 09/06/2002 13490 .13

600 .0000 09/06/2002 13054 97700 .0000 SIEMENS AG ADR - 82619750 1

SOLD 02/26/2004 54835 .86ACQ 700.0000 09/10/2002 54835 .86

350.0000 SIERRA HEALTH SVCS INC - 82632210 9SOLD 01/09/2004 9005 .39ACQ 200.0000 09/06/2002 5145 94

50 .0000 09/06/2002 1286 48100 .0000 09/06/2002 2572 .97

550 .0000 SKY FINCL GROUP - 83080P103SOLD 01/26/2004 14971 .39ACQ 550.0000 08/04/2003 14971 .39

3000 .0000 SOCIETE GENERALE FRANCE - 83364L10 9SOLD 08/22/2003 39479 95ACQ 3000.0000 09/10/2002 39479 .95

3125 .0000 SOLECTRON CORP - 834182107SOLD 03/11/2003 9655 95ACQ 3125 0000 11/13/2002 9655 .95

601 .90 POST-ST874 .74 POST-ST874 .74 POST-ST

37921 .60 POST-ST

26774 .04 POST-ST

27020 .71 POST-ST

20 .07 POST-ST

101 .78 POST-ST

-490.05 POST-ST

2860 . 007780 . 007780 . 00

48324 . 88

32690 . 36

18477 . 1 6

3188 . 83

15147 . 00

6273 . 30

21329 . 22

5220 00

- 1210 67

2054 .26

208 48833 .91

1 042 . 39708 .82416 .96

-2367 8 3

-2167 9 6

-2437 . 124927 .992736 . 47

POST-ST

LT15

LT15LT15LT15LT15LT1 5

POST-ST

POST-ST

LT15POST-STLT1 5

342 . 73 LT15

396 . 07 LT1545 26 LT15

195 . 10 LT1 5

580 002320 .002900 . 001 972 .001 160 .00

8258 05

6005 8 6

2477 4 .1912 670 . 9 118246 .83

527 4 .50

527 4 .50602 .80777 .00

8288 00

10409 . 88

6240 00

9672 009360 .00

30786 .00

3690 . 18921 . 991844 00

12461 . 46

34050 . 00

9781 . 25

1064 . 84

-6306 . 69

- 181 . 75

3818 133694 9 7

24049 . 86

1455 . 76364 . 49728 . 97

2509 . 93

5429 . 95

- 125 . 30

LT15

PO ST - ST

PRE-ST

POST-STPOST-ST

LT15

LT1 5LT1 5LT1 5

POST-ST

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PRE-ST

ACCT H268 656D40Q0 MERRILL LYNCH TRUST COMPANY FSB PAGE 282FROM 03/01/2003 STATEMENT OF CAPITAL GA I NS AND LOSSE STO 02/29/2004 ORVILLE & RUTH MER ILLAT FDN RUN 06/04 /2004

TRUST YEAR ENDING 0 2/29/2004

TAX PREPARER : EX ETRUST ADMIN I STRATOR :MG1 LEGEND : F - FEDERAL S - STATE I - I NHERITEDINVESTMENT OFFICER : CBH E - EXEMPT FROM STATE U - ACQ COST UNKNOWN

PROPERTY DESCR I PTION SHARES DATE SALES PRICE CO ST BASIS GAIN/LOSS TERM-------------------- ------ ---- ----------- ---------- --------- ----

100 .0000 SOUTH FINL GROUP INC COM - 837841105SOLD 01/08/2004ACQ 100.0000 09/06/2002

250.0000 STAGE STORES INC COM NEW - 85254C305SOLD 06/18/2003ACQ 250.0000 12/10/2002

350 .0000 STAGE STORES INC COM NEW - 85254c30 5SOLD 10/03/2003ACQ 150.0000 01/15/2003

200.0000 12/10/2002100.0000 STANCORP FINANCE GRP INC - 852891100

SOLD 02/12/2004ACQ 100.0000 05/08/2003

300.0000 STA14CORP FINANCE GRP INC - 852891100SOLD 02/25/2004ACQ 300.0000 05/08/2003

650 .0000 STATEN ISLAND BANCORP - 857550107SOLD 05/02/2003ACQ 650.0000 10/04/2002

690 .0000 STATEN ISLAND BANCORP - 857550107SOLD 05/06/2003ACQ 440.0000 10/04/2002

250 .0000 12/06/2002400 .0000 STATEN ISLAND BANCORP - 857550107

SOLD 10/15/2003ACQ 400.0000 06/06/2003

1050 .0000 STATEN ISLAND BANCORP - 857550107SOLD 11/03/2003ACQ 1050 .0000 06/06/2003

100 .0000 STERIS CORP - 859152100SOLD 01/22/2004ACQ 100.0000 08/13/2003

250 .0000 STEWART INFO SVC CRP - 86037210 1SOLD 08/27/2003ACQ 250.0000 12/20/2002

100 .0000 STEWART INFO SVC CRP - 86037210 1SOLD 09/15/2003ACQ 100 0000 12/20/2002

310 .0000 STEWART INFO SVC CRP - 86037210 1SOLD 09/17/2003ACQ 150.0000 05/07/2003

160 0000 05/06/200 34800 .0000 STORA ENSO OYJ SPD ADR - 86210M106

SOLD 10/06/2003ACQ 3400 0000 09/10/200 2

1400 .0000 10/17/2002230 .0000 STORAGE TECHNLGY CP$O 10 - 862111200

SOLD 04/24/2003ACQ 230.0000 09/06/2002

250 .0000 STORAGE TECHNLGY CP$O 10 - 862111200SOLD 04/29/2003ACO 250 .0000 09/06/2002

540 .0000 STORAGE TECHNLGY CP$O 10 -- 862111200SOLD 06/25/2003ACQ 40.0000 09/06/2002

200.0000 09/06/2002300.0000 09/06/2002

900 .0000 STRIDE RITE CORP - 863314100SOLD 04/28/2003ACQ 900.0000 01/22/2003

3300 .0000 SUNCOR INC - 86722910 6SOLD 06/11/2003ACQ 3300 .0000 11/07/2002

5000 .0000 SUNCOR INC - 86722910 6SOLD 10/29/2003ACQ 5000 0000 11/07/2002

2400 .0000 SUPERIOR IND INTL - 86816810 5SOLD 11/04/2003ACQ 2400 .0000 10/08/2002

3520 .0000 SWIRL PAC LTD SPSD ADR A - 870794302SOLD 11/17/2003ACQ 3520 .0000 04/08/2003

6010 .0000 SWIRE PAC LTD SPSD ADR A - 870794302SOLD 11/18/2003ACQ 4310 .0000 04/08/2003

1700 .0000 05/01/20037600 .0000 SYMANTEC CORP - 87150310 8

SOLD 04/03/2003AC 7600 0000 01/30/2003

***ADDED*** 09/22/03 CER1000 .0000 SYMYX TECH INC - 87155S10 8

SOLD 04/16/2003ACQ 1000 0000 09/11/2002

2782 . 862782 . 86

5864 .225864 . 22

9362 . 064012 . 315349 . 75

6674 . 686674 . 68

19676 2319676 23

10854 . 4910854 . 49

11869 . 307568 . 834300 . 47

8819 . 588819 .58

20988 . 5120988 51

2441 . 882441 88

7237 . 167237 . 16

2879 . 862879 86

8989 . 574349 . 794639 . 78

59504 . 2542148 . 8417355 . 4 1

5570 335570 . 33

6062 546062 . 54

13243 . 58981 . 01

4905 . 037357 . 54

7604 . 647604 . 64

64146 . 6864146 . 68

102509 . 20102509 . 20

100985 . 83100985 . 83

20239 .0520239 . 05

34255 .3924565 . 8 59689 . 54

298182 . 28298182 . 28

15586 . 9715586 . 97

2124 . 90

5681 . 40

2769 . 004545 . 12

5312 .00

15936 . 00

10363 . 92

7015 . 594930 .00

8000 . 00

21000 . 00

2189 . 99

5345 . 49

2138 . 21

3900 . 004160 . 00

36360 . 6214544 . 74

3146 . 40

3420 . 00

546 . 402732 .004104 .01

7020 .00

48678 . 29

73755 00

89990 . 40

14431 . 99

1767 1 .016800 .00

352133 . 08

10300 00

657 .96

1 82 .82

12 43 .31804 .63

1 36 2 . 68

3740 .23

490 .57

553 .24-6 29 . 53

819 .58

- 11 .49

251 .8 9

1891 .67

7 4 1 65

449 79479 78

5788 222810 .67

2 423 93

2642 .54

4 3 4 .6 12173 .033253 .53

58 4 6 4

15468 .39

28754 20

10995 43

5807 .06

6894 842889 .5 4

-53950 80

5286 97 PRE-ST

LT 15

POST-ST

POST -STPOST -ST

POST -ST

POST-ST

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ACCT H268 656D40Q0 MERRILL LYNCH TRUST COMPANY FSB PAGE 283FROM 03/01/2003 STATEMENT OF CAPITAL GAINS AND LOSSE STO 02/29/2004 ORVILLE & RUTH MERILLAT FDN RUN 06/04/2004


TAX PREPARER : EXETRUST ADMINISTRATOR : MG1INVESTMENT OFFICER: CBH


300.0000 SYMYX TECH INC - 87155S10 8SOLD 07/07/2003ACQ 300.0000 09/11/2002

350 .0000 SYMYX TECH INC - 87155S10 8SOLD 07/08/2003ACQ 350.0000 09/11/2002

925 .0000 SYMYX TECH INC - 87155S10 8SOLD 02/17/2004ACQ 925.0000 09/11/2002

6000 .0000 SYSCO CORPORATION - 87182910 7SOLD 05/13/2003ACq 6000.0000 11/07/2002

"'CHANGED" 10/21/03 JE H10200 .0000 SYSCO CORPORATION - 871829107

SOLD 08/0 /2003ACQ 10200 .0000 11/07/200 2

2100.0000 TAIWAN S MANUFCTRING ADR - 874039100SOLD 07/29/2003ACID 2100.0000 09/10/2002

6324 0000 TAIWAN S MANUFCTRING ADR - 874039100SOLD 11/19/2003ACQ 168 .0000 09/10/2002

6156 .0000 09/10/2002200.0000 TAKE TWO INTER SOFTWARE - 874054109

SOLD 09/10/2003ACQ 200.0000 06/12/200 3

650 .0000 TAKE. TWO INTER SOFTWARE - 874054109SOLD 01/08/2004ACQ 650.0000 06/12/200 3

600.0000 TALK AMER HLDGS INC NEW - 87426R202SOLD 07/30/2003ACQ 600.0000 06/06/2003

950 .0000 TALK AMER HLDGS INC NEW - 874268202SOLD' 10/08/2003ACQ 550 0000 06/11/2003

400 .0000 06/06/2003250 0000 TANGER FACTORY OUTLET CTRS I - 875465106

SOLD 01/14/2004ACQ 200.0000 12/15/2003

50 0000 12/29/2003300.0000 TANGER FACTORY OUTLET CTRS I - 875465106

SOLD 01/15/2004ACQ 300 0000 12/29/2003

250.0000 TECHNIP SP ADR - 878546209SOLD 02/26/2004ACQ 250.0000 01/09/2003

400.0000 TECHTRONIC INDS SPD ADR - 878738101SOLD 07/21/2003ACQ 400.0000 09/10/2002

1450.0000 TECHTRONIC INDS SPD ADR - 878738101SOLD 08/12/2003ACQ 1450 0000 09/10/200 2

1500.0000 TECHTRONIC INDS SPD ADR - 87873R101SOLD 01/29/2004ACQ 1500.0000 09/10/200 2

150.0000 TELEDYNE TECH INC - 879360105SOLD 01/16/2004ACQ 150.0000 09/23/200 3

100 .0000 TELEDYNE TECH INC - 879360105SOLD 01/20/2004ACQ 100.0000 09/23/2003

350 .0000 TELEDYNE TECH INC - 879360105SOLD 01/22/2004ACQ 50.0000 09/26/2003

300 0000 09/23/20031100 .0000 TELEDYNE TECH INC - 879360105

SOLD 01/29/2404ACQ 250 0000 10/28/2003

850 .0000 09/26/20031500 .0000 TELEFNCA DE ESPNA SA ADR - 879382208

SOLD 02/27/2004ACQ 1500.0000 09/10/2002

13192 0000 TELECOM POLSKA - 87943D207SOLD 06/13/2003ACQ 12165 .0000 07/05/2002

1027 .0000 07/05/20023900 0000 TELESP CEL PART SPN ADR - 87952L108

SOLD 06/12/2003ACQ 3900 .0000 04/25/2003

5500 .0000 TESCO PLC - 881575302SOLD 05/29/2003ACQ 1400.0000 09/17/2002

4100 0000 09/10/2002


SALES PRICE COST BAS IS GAIN /LOSS TERM----------- ---------- --------- ----

5099 .785099 .76

59 49 .725949 .72

26218 .822 6218 .8 2

167803 . 14167803 .1 4

302167 .9 930216 7 .9 9

20369 .0420369 .04

6734 7 .4 41 789 . 1265558 .32

7468 .317468 .3 1

20474 .0420474 .04

7017 33701 7 .3 3

12451 .827208 .95524 2 . 8 7

10352 0 18281 .612070 40

12326 .9912326 .99

8 749 .658 749 65

15399 .2715399 .27

56188 .64561 88 .6 4

2077 4 . 0 2207 74 .0 2

2870 . 8 62870 . 8 6

1899 .9 11899 .91

6721 .5 4960.22

5761 .32

20929 .7 14756 75

16 1 72 .96

73969 .9 173969 .91

47755 .0444037 .303717 .74

15804 4015804 40

57197 .3214559.3242638 00

30 9 0 .00

3605 . 00

9527 . 49

191818 . 79

326091 .97

16469 44

1317 .5 648279 .00

5496 .00

1 7862 .00

7258 .08

6787 .944838.72

8104 002042 99

12258 01

4175 00

6719 99

24360 .00

6300 .00

2276.99

1518 .00

731 954554 .01

3850 .0012443 .24

37709 26

47949 8 33377 .64

14973 .66

13790 0042845 .00

2009 . 76 POST -ST

2344 . 72 POST-ST

16691 . 33 LT15

-24015 . 65 POST - ST

- 23923 98 POST -ST

3899 60 POST -ST

47 1 .56 LT1 517279 . 32 LT15

1972 .31 POST-ST

2612 . 04 POST - ST

-240 75 POST -ST

421 . 01 POST -ST404 . 15 POST -ST

177 . 61 POST -ST27 . 41 POST -ST

68 . 98 POST - ST

4574 65 LT15

8679 . 28 POST-ST

31828 64 POST-ST

14474 . 02 LT1 5

593 87 POST-ST

381 . 91 POST - ST


906 .75 POST-ST3729.72 POST-ST

36260 65 LT1 5

- 3912 . 53 POST -ST340 10 POST -ST

830 . 74 POST- ST

769 . 32 POST- S T-207 00 POST-ST

ACCT H268 656D40Q0FROM 03/01 /200 3TO 02/29 /200 4


PROPERTY DES CR I PTION--------------------

MERRILL LYNCH TRUST COMPANY FSB PAGE 284STATEMENT OF CAPITAL GAINS AND LOSSE SORVILLE & RUTH MERILLAT FDN RUN 06/04 /2004

TRUST YEAR END ING 02 /29/2004

LEGEND : F - FEDERAL S - STATE I - I NHER I TEDE - EXEMPT FROM STA TE U - ACQ CO ST UNKNOWN

SHARES DATE SALES PR I CE COST BASIS GAIN/LOSS T ERM------ ---- ----------- ---------- --------- ----

400 0000 TEVA PHARMACTCL INDS ADR - 88162420 9SOLD 06/12/2003 21993 .25ACQ 400.0000 09/16/2002 21993 .25

475 .0000 THORATEC LABS CORP COM NEW - 88517530 7SOLD 12/23/2003 5872 .57ACQ 475.0000 05/13/2003 5872 .57

750 .0000 THORNBURG MTG ASSET CORP - 88521810 7SOLD 01/14/2004 20236 .98ACQ 750.0000 09/06/2002 20236 98

780 .0000 TORO CO DELAWARE - 89109210 8SOLD 12/23/2003 36469 .69ACQ 180.0000 09/06/2002 8416 .08

600 .0000 09/06/2002 28053 .61950.0000 TRANSACTION SYS ARCHITECTS I CL A - 893416107

SOLD 10/16/2003 18152.80ACQ 950.0000 09/23/2003 18152 .80

500.0000 TRIMBLE NAV LTD - 896239100SOLD 02/25/2004 16452 .05ACO 500 .0000 01/28/2004 16452 .05

600 0000 TRUSTMARK CORP - 89840210 2SOLD 03/06/2003 14166 59ACQ 600.0000 12/10/2002 14166 .59

300 .0000 TRUSTMARK CORP - 89840210 2SOLD 09/10/2003 8038 .27ACQ 300.0000 06/11/2003 8038 .27

12800 .0000 TYSCIN FOODS INC CL A - 90249410 3SOLD 06/11/2003 130294 .06ACQ 8600.0000 09/18/2002 87541 .32

4200 .0000 10/07/2002 42752 .74100.0000 UGI CORP NEW COM - 90268110 5

SOLD 01/21/2004 3383 .84ACQ 100 0000 09/06/2002 3383 84

100 0000 UGI CORP NEW COM - 90268110 5SOLD 01/22/2004 3274.47ACQ 100.0000 09/06/2002 3274 .47

300 0000 UGI CORP NEW COM - 902681105SOLD 01/23/2004 9586.05ACQ 300.0000 09/06/2002 9586 . 0 5

100 .0000 UGI CORP NEW COM - 902681105SOLD 01/29/2004 3210 84ACQ 100.0000 09/06/2002 3210 .84

100 .0000 UMB FINL CORP - 902788108SOLD 02/12/2004 4935 66ACO 100 0000 01/07/2004 4935 66

100 .0000 UMB FINL CORP - 902788108SOLD 02/19/2004 4958 .50ACQ 100 0000 01/13/2004 4958 .50

1050 .0000 US ONCOLOGY INC COM - 90338W10 3SOLD 02/26/2004 13254 37ACQ 1000.0000 07/31/2003 12623.21

50 .0000 08/04/2003 631 .163900 .0000 UNITED NATL BANCORP N J - 91090910 0

SOLD 01/08/2004 139740.51ACQ 2600 0000 10/16/2002 93160.34

1300 .0000 10/15/2002 46580.1726000.0000 UNITED STS STL CORP NEW - 91290910 8

SOLD 08/04/2003 424242 97ACQ 26000 .0000 09/17/2002 424242 97

1100 0000 UNITED UTLTES PLC-SP ADR - 91311Q10 5SOLD 05/23/2003 22290 45ACQ 1100.0000 09/12/2002 22290 .45

1100 0000 UNITED UTLTES PLC-SP ADR - 91311Q10 5SOLD 07/14/2003 21317 .00ACQ 1100.0000 09/12/2002 21317 .00

2100 0000 UNITED UTLTES PLC-SP ADR - 91311Q10 5SOLD 07/31/2003 37280 18ACQ 700.0000 10/02/2002 12426 73

1400.0000 09/12/2002 24853 .45510 .0000 UNIVERSAL CORP VA - 913456109

SOLD 08/27/2003 21497 .58ACQ 200 0000 09/06/2002 8430.42

10 .0000 09/06/2002 421 .52300 .0000 01/06/2003 12645 64

450 0000 UNIVERSAL CORP VA - 913456109SOLD 12/04/2003 19216 .53ACQ 450.0000 10/22/2003 19216 53

1500 0000 UNOVA INC - 91529610 6SOLD 10/02/2003 21414 .94ACQ 950.0000 08/21/2003 13562 .80

300 .0000 09/04/2003 4282 .99250 0000 09/02/2003 3569 .16

3425 .0000 UTSTARCOM INC DEL COM - 91807610 0SOLD 04/17/2003 73209 .03ACQ 3425 0000 09/11/2002 73209 .03

13834 .00

6784 .7 1

15254 99

5137 .201 7 12 4 .00

16331 .07

19205 .00

13807 . 38

7988 .76

106333 .8 444265 48

2346 .66

23 46 .66

7040 00

2346 .66

4757 45

4815 00

81 40 20392 91

5 4730 0027482 00

332326 80

21614 . 01

21614 . 01

13265 . 0027508 74

7782 .00389 10

1 1207 . 01

19737 00

15519 . 494890 . 003997 . 50

49325 82

8159 .25 POST-ST

-912 .14 POST-ST

4981 .99 LT15

3278 88 LT1 510929 .61 LT15

1821 .73 POST-ST

-2752 .95 POST-ST

359 .21 PRE-ST

49 .51 POST-ST

-18792 .52 POST-ST-1512 .74 POST-ST

1037 .18 LT15

927 .81 LT1 5

2546 05 LT15

864 . 18 LT15

178 . 21 POST -ST

143 50 POST -ST

4483 01 POST -ST238 . 25 POST - ST

38430 . 34 LT1519098 . 17 LT15

91916 17 POST -ST

676 44 POST -ST

-297 . 01 POST - ST

-838 . 27 POST- ST-2655 . 29 POST-ST

648 . 42 POST -ST32 42 POST -ST

1438 63 POST -ST

-520 47 POST -ST

-1956 69 POST - ST-607 . 01 POST - ST-428 34 POST - ST

23883 .21 PRE-ST

ACCT H268 656D4000FROM 03/01 /2003TO 02/29/2004



MERRILL LYNCH TRUST COMPANY FSB PAGE 285STATEMENT OF CAPITAL GAINS AND LOSSE SORVILLE & RUTH MERILLAT FON R UN 06/04/2004



SHARES DATE SALES PRICE COST BASI S GAIN /LOSS TERM------ ---- ----------- ---------- --------- ----

375 .0000 UTSTARCOM INC DEL COM - 918076100SOLD 04/22/2003ACQ 375.0000 09/11/2002

1075 .0000 UTSTARCOM INC DEL COM - 918076100SOLD 05/15/2003ACQ 1075 .0000 09/11/2002

400 .0000 UTSTARCOM INC DEL COM - 918076100SOLD 06/19/2003ACQ 400.0000 09/11/200 2

150 .0000 UTS7ARCOM INC DEL COM - 918076100SOLD 06/27/2003ACQ 150.0000 09/11/200 2

200.0000 UTSTARCOM INC DEL COM - 918076100SOLD 08/07/2003ACQ 200.0000 09/11/2002

6100.0000 UTSTARCOM INC DEL COM - 918076100SOLD 09/29/2003ACQ 2500 .0000 06/18/2003

1700 0000 08/25/20031900 .0000 09/08/2003

900.0000 UTSTARCOM INC DEL COM - 918076100SOLD 12/15/2003ACQ 900.0000 09/11/2002

75 .0000 UTSTARCOM INC DEL COM - 918076100SOLD 12/16/2003ACQ 75.0000 09/11/2002

450 .0000 VALASSIS COMMUNICATIONS INC - 91886610 4SOLD 08/26/2003ACQ 450.0000 12/11/2002

450.0000 VALASSIS COMMUNICATIONS INC - 918866104SOLD 09/11/2003ACQ 200.0000 06/18/2003

150 0000 12/11/2002100 0000 06/11/2003

4800.0000 VALASSIS COMMUNICATIONS INC - 91886610 4SOLD 09/19/2003ACQ 1800 0000 10/31/2002

3000 .0000 10/24/200 21150 .0000 VARCO INTL INC PV $0 .01 - 922122106

SOLD 02/25/2004ACQ 950 0000 03/17/200 3

100 0000 10/17/2003100 0000 09/12/2003

350 .0000 VARIAN SEMICNDCTR EQ ASC - 92220710 5SOLD 08/05/2003ACQ 350 0000 05/19/2003

350 .0000 VARIAN SEMICNDCTR EQ ASC - 922207105SOLD 08/08/2003ACQ 350.0000 05/19/2003

2100.0000 VINTAGE PETE INC - 927460105SOLD 12/02/2003ACQ 1300 .0000 04/03/2003

800 0000 10/16/200 313000 .0000 VODAFONE GRP PLC SPN ADR - 92857W100

SOLD 08/20/2003ACQ 13000.0000 12/03/200 2

15700 .0000 VODAFONE GRP PLC SPN ADR - 92857W100SOLD 08/26/2003ACQ 10100 0000 12/03/2002

5600 0000 05/23/20031700 0000 W HOLDING CO INC COM - 929251106

SOLD 12/01/2003ACQ 1700.0000 06/ 06/2003

803 .0000 WASHINGTON FEDL INC - 938824109SOLD 03/03/2003ACQ 803 0000 09/06/2002

190 .0000 WATTS INDS INC COM CL A - 942749102SOLD 08/26/2003ACQ 100.0000 09/06/2002

90 0000 09/06/2002500 .0000 WEBSTER FINL CORP CONN - 947890109

SOLD 03/03/2003ACQ 200.0000 09/06/200 2

300.0000 09/06/20022000 .0000 WELLPOINT HEALTH NETWORKS IN - 94973H108

SOLD 08/18/2003ACQ 813.0000 07/02/2002

1187 0000 11/07/20021913 .0000 WELLPOINT HEALTH NETWORKS IN - 94973H108

SOLD 08/19/2003ACQ 113 0000 11/07/2002

1800 0000 04/21/20033500 0000 WELLS FARGO & CO NEW DEL - 949746101

SOLD 06/13/2003ACQ 1672 0000 08/02/199 9

1828 0000 11/07/2002

8580.758580 .7 5

29016 .0 129016 .01

1 3487 .361 3487 .36

5312.755312.75

7909.747909 .7 4

194320 .4379639 .5254154 .8760526 .04

35237 .4035237 . 40

2785 .792785 .79

12960.9212960 .9 2

12779 . 405679 .734259 . 802839 87

1332 23 . 0449958 .6483264 40

22840.2918868 . 0 7198 6 .1 11 986 . 11

1 1 707 161 1 707 . 16

1 1369 . 4211369 . 42

225 1 3 . 881 3937 . 168576 72

251633 . 1 2251633 .12

284627 .671831 04 . 4210 1 523 2 5

45168 .2445 1 68 . 24

1 79 22 . 5017922 .50

3 486 .33183 4 . 911651 .4 2

17749 .467099 .7810649 .68

158515 . 1864436 .4294078 .76

150998 . 658919 . 42

142079 .23

178489 . 1985266 . 8493222 . 35

5400 . 63

15481 . 82

5760 68

2160 . 2 5

2880 . 34

84728 . 5071910 . 0074179 . 42

12961 . 5 3

1080 . 12

12901 . 50

5240 .004 300 .502530 .00

47250 0078450.00

16739 .001655 .001654 .00

8537 .27

8537 .2 7

1 24 7 4 .029440.00

2 4894 9 .99

19341 5 .0 111 7040 .00

28900 00

18184 .3 1

1697 .001527 30

7542 .0011313 .00

52463 .909341 6 .8 9

8893 .11133276 68

64631 1686334 .24

3180 . 12 PRE -ST

13534 19 POST - ST

7726 . 68 POST -ST

3152 . 50 POST -ST

5029 . 40 POST - ST

-5088 . 98 POST -ST-17755 . 13 POST -ST-13653 38 POST -ST

22275 87 LT1 5

1705 . 67 LT15

59 . 42 POST -ST

439 . 73 POST -ST-40 .70 POST -ST309 . 87 POST -ST

2708 64 POST-ST4814 40 POST -ST

2129 07 POST -ST331 . 11 POST-ST332 . 11 POST -ST

3169 . 89 POST -ST

2832 15 POST -ST

1463 14 POST - ST-863 . 28 POST -ST

2683 . 13 POST -ST

-10310 59 POST-ST-15516 75 POST-ST

16268 24 POST-S T

-261 .81 PRE-ST


-442 .22 PRE-ST-663 .32 PRE-ST

11972 52 LT15661 . 87 POST -ST

26 31 POST - ST8802 55 POST -ST

20635 .68 LT 1 56888 . 11 POST - ST

ACCT H268 656D4000 MERRILL LYNCH TRUST COMPANY FSB PAGE 286FROM 03/01/2003 STATEMENT OF CAPITAL GA I NS AND LOSSE STO 02/29/2004 ORVILLE & RUTH MERILLAT FDN RUN 06 /04/2004

TRUST YEAR END I NG 02/29 /200 4

TAX PREPARER : EXETRUST ADMINISTRATOR :MG1 LEGEND : F - FEDERAL S - STATE I - I NHERITEDINVESTMENT OFF I CER :CBH E - EXEMPT FROM STATE U - ACQ COST UNKN OWN

PROPERTY DESCRIPTION SHARES DATE SAL ES PR ICE COST BASIS GAIN /LOSS TERM-------------------- ------ ---- ----------- ---------- --------- ----

4572 .0000 WELLS FARGO & CO NEW DEL - 94974610 1SOLD 07/28/2003 237504 .28ACQ 4572.0000 11/07/2002 237504 .28

3053 .0000 WENDYS INTL INC - 950590109SOLD 09/03/2003 99067 .65ACQ 753.0000 07/02/2002 24434 .31

2300 .0000 09/12/2002 74633 .34450.0000 WHITNEY HOLDING CORP - 96661210 3

SOLD 06/06/2003 15307 .29ACQ 150.0000 01/21/2003 5102 43

300 .0000 12/10/2002 10204 .86350.0000 WHITNEY HOLDING CORP - 96661210 3

SOLD 06/11/2003 11666 .56ACQ 350.0000 01/21/2003 11666 .56

3550 .0000 WIRELESS FACILITIES INC - 97653A10 3SOLD 04/02/2003 21315 .69ACQ 3550.0000 09/13/2002 21315 .69



525 .0000 WIRELESS FACILITIES INC - 97653A103SOLD 07/02/2003 6162 .21ACQ 525.0000 09/13/2002 6162 .21

575 .0000 WIRELESS FACILITIES INC - 97653A10 3SOLD 08/08/2003 7546 .52ACQ 575.0000 09/13/2002 7546 52

2100 0000 WOLYERS KLUWER N V - 97787420 5SOLD 04/11/2003 26784 .24ACO 2100 .0000 09/10/2002 26784 .24

800.0000 YELLOW ROADWAY CORP - 985577105SOLD 02/11/2004 25741 .51ACQ 350.0000 11/11/2003 11261 .91

450 .0000 10/03/2003 14479.60100 0000 ZORAN CORP - 98975F10 1

SOLD 05/01/2003 1750.35ACQ 100.0000 10/17/2002 1750.35

100 .0000 ZORAN CORP - 98975 1`10 1SOLD 05/05/2003 1569 .92ACQ 100.0000 10/17/2002 1569 .92

600 .0000 ZORAN CORP - 98975F10 1SOLD 06/11/2003 11436 .66ACQ 100 0000 10/17/2002 1906 .11

500 0000 10/17/2002 9530 .55650 0000 ZORAN CORP - 98975F101

SOLD 06/12/2003 12381 92ACQ 150.0000 05/20/2003 2857 .37

500.0000 10/17/2002 9524 .55200 .0000 ER57E BANK DER OEST FN EUR PAR ORDINARY - A19494102

SOLD 06/13/2003 17820.00ACQ 100 0000 06/04/2003 8910.00

100 0000 05/14/2003 8910.00225 .0000 BAYER MOTORENWERKE 50 ON - D1209610 9

SOLD 03/12/2003 5214 .83ACQ 225.0000 10/16/2002 5214 .83

535 0000 BAYER MOTORENWERKE 50 DM - D12096109SOLD 06/13/2003 19741 .50ACQ 535.0000 10/16/2002 19741 .50

775 .0000 MEDION - D12144107SOLD 06/13/2003 34487 .50ACQ 275.0000 09/16/2002 12237 .50

500 0000 02/27/2003 22250 .001800 .0000 CELANESE AG - D1497A10 1

SOLD 10/02/2003 59397 22ACQ 1800 0000 03/27/2003 59397 22

1100 0000 DAIMLER CHRYSLER AG - D1668R12 3SOLD 06/06/2003 34219 .39ACQ 1100.0000 02/03/2003 34219 39

1700 .0000 DEUTSCHE BK REGD NPV EUR PAR ORDINARY - D1819089 8SOLD 08/01/2003 105038 .08ACQ 200.0000 04/29/2003 12357 .42

1500.0000 09/10/2002 92680 .66400 .0000 MERCK KGAA FN EUR PAR ORDINARY - D5357W103

SOLD 06/13/2003 13700.00ACQ 400.0000 05/28/2003 13700.00

22 .0000 PORSCHE AG PREF 50 DEM PAR PREFERRED - 061577108SOLD 03/04/2003 6359 .90ACQ 22.0000 11/13/2002 6359 .90

43 0000 PORSCHE AG PREF 50 .DEM PAR PREFERRED - D6157710 8SOLD 06/13/2003 16125 .00ACQ 43.0000 11/13/2002 16125 .00

215930 08

29740 . 5273200 . 95

4949 . 689930 . 00

11549 . 27

17821 00

6526 . 00

5522 . 00

2635 . 50

2886 . 50

39165 . 00

11335 . 9114674 . 46

1231 . 99

1232 . 00

1232 .0 16 160 . 00

2644 .206160 .00

8877 . 40879 3 .00

75 40 .53

17929 .73

9517 .2 815975 .00

31500 .00

34573 .00

10216 0088578 .90

13996 .80

10235 .00

20004 78

21574 . 20 POST - ST

- 5306 . 21 LT151432 . 39 POST -ST

152 . 75 POST - ST274 . 86 POST - ST

117 . 29 POST - ST

3494 . 69 PRE -ST

6343 . 39 POST -ST

6137 . 45 POST -ST

3526 71 POST-ST

4660 .02 POST-ST

- 1 2380 76 PRE -ST

-74 00 POST-ST-194 .86 POST-ST

518 36 PRE-ST

337 92 PRE-ST

67 4 10 POST-ST3370 55 POST-ST

213 . 1 7 POST-ST3364 55 PO ST-ST

32 . 60 POST - ST117 . 00 POST - ST

-2325 . 70 PRE -ST

1811 . 77 POST -ST

2720 22 POST-ST6275 . 00 POST - ST

27897 22 POST-ST

-353 61 POST-ST

2141 .42 POST-ST4101 76 POST-ST

-296 .80 POST-ST

- 3875 . 10 PRE -ST

-3879 . 78 POST -ST

ACCT H268 656D4000FROM 03/01/2003TO 02/29/2004



MERRILL LYNCH TRUST COMPANY FSB PAGE 287STATEMENT OF CAPITAL GAINS AND LOSSESORVILLE & RUTH MERILLAT FDN RUN 06/04/2004



SHARES DATE SALES PRICE COST BAS IS GAIN/LOSS TERM------ ---- ----------- ---------- --------- ----

300.0000 SAP AG ORD NO PAR VALUE EUR PAR ORDINARY - D66992104SOLD 04/02/2003 22970 58ACQ 300 0000 11/13/2002 22970 .58

150.0000 SAP AG ORD NO PAR VALUE EUR PAR ORDINARY - D66992104SOLD 06/13/2003 19050.00ACQ 150.0000 11/13/2002 19050 .00

500 0000 SGL CARBON AG EUR PAR ORDINARY - D6949M108SOLD 06/13/2003 7375 00ACQ 500.0000 05/12/2003 7375 .00

450 .0000 STADA ARZNEIMITTEL 50 .EUR PAR ORDINARY - D7622611 3SOLD 06/13/2003 28350.00ACQ 200.0000 03/18/2003 12600 .00

250 .0000 03/07/2003 15750 00700 .0000 UNITED INTERNET AG EUR PAR ORDINARY - D8542B12 5

SOLD 06/13/2003 12449.99ACQ 700.0000 06/04/2003 12449 .99

2750 .0000 AMADEUS GLOBAL TRAVEL A - E0463L19 9SOLD 06/13/2003 16500.00ACO 1350 .0000 05/13/2003 8100 .00

1400 0000 05/07/2003 8400 .001300.0000 BNCO BLBAO VZCYA ARGTRIA .49EUR PAR ORDINARY - E11805103

SOLD . 06/13/2003 13780 .00ACQ 1300.0000 04/04/2003 13780 .00

650 .0000 CIA DISTRIB INTEGRAL LOG - E1674710 2SOLD 05/13/2003 14613.04ACQ 650.0000 11/13/2002 14613 .04

2450 .0000 BCO SNTDR CNT RG S SPAIN EUR PAR ORDINARY - E1979010 9SOLD 06/13/2003 21560.00ACQ 2450 0000 03/17/2003 21560.00

300 .0000 GRUPO FERROVIAL EUR PAR ORDINARY CL"F" - E5701R10 6SOLD 06/03/2003 8210 .10ACQ 300.0000 10/11/2002 8210 .10

400 .0000 GRUPO FERROVIAL EUR PAR ORDINARY CL"F" - E5701R10 6SOLD 06/13/2003 11196.28ACQ 400.0000 10/11/2002 11196 28

2050.0000 INDRA SISTEMAS SA FN - E6271Z15 5SOLD 06/13/2003 21012 50ACQ 2050 0000 03/24/2003 21012 50

1300 0000 INDITEX EUR PAR ORDINARY - E6282J109SOLD 06/13/2003 31590.00ACQ 1300.0000 11/26/2002 31590.00

650 0000 BNP PARIBAS 2 EUR PAR ORDINARY - F1058Q238SOLD 06/13/2003 34125.00ACQ 650.0000 11/13/2002 34125 .00

750 .0000 CAP GEMINI - F135 87120SOLD 06/13/2003 29062 50ACQ 600.0000 11/22/2002 23250 .00

150.0000 04/30/2003 5812 .50250 .0000 SOCIETE GENERALE A SH 1 .25EUR PAR ORDINARY - F43638141

SOLD 06/13/2003 16687.50ACQ 250.0000 04/22/2003 16687 .50

125 .0000 HERMES INTL S A - F48051100SOLD 06/13/2003 18375 00ACQ 75.0000 05/16/2003 11025 .00

50 .0000 06/02/2003 7350 001000 .0000 PUBLICIS GROUPE .4EUR PAR ORDINARY - F7607Z165

SOLD 06/13/2003 28350 00ACQ 1000.0000 11/13/2002 28350 00

800 .0000 TELEVISION FRANCAISE TFI 2FRF PAR ORDINARY - F9125510 3SOLD 06/13/2003 24200.00ACQ 700.0000 12/03/2002 21175 .00

100 .0000 04/24/2003 3025 .001000 .0000 ALLIED IRISH BANK EUR PAR ORDINARY - 60207211 7

SOLD 06/13/2003 14850.00ACQ 1000 0000 11/13/2002 14850 00

800 .0000 AMDOCS LIMITED AMDOCS LTD - 60260210 3SOLD 04/29/2003 14079 34ACQ 800 0000 11/04/2002 14079 34

1100 .0000 AMDOCS LIMITED AMDOCS LTD - 60260210 3SOLD 05/07/2003 19799.07ACQ 1100.0000 11/04/2002 19799 .07

5700 .0000 ANGLO IRISH BKO .25PNT FN - 60380810 5SOLD 06/13/2003 52792 26ACQ 2900 0000 11/13/2002 26859 22

2800 0000 03/19/2003 25933 .047400 .0000 BT GROUP GBP 0 .05 - G16612106

SOLD 06/13/2003 24129.92ACQ 7400.0000 11/26/2002 24129 .92

9500 .0000 ESPRIT HOLDINGS LTD - G3122U12 9SOLD 05/08/2003 17516 .10ACQ 9500.0000 11/25/2002 17516 10

7500.0000 ESPRIT HOLDINGS LTD - G3122U129SOLD 06/13/2003 17254 50ACQ 7500 0000 11/25/2002 17254 50

23336 . 02

11668 . 02

7907 . 05

9542 . 6012012 . 83

11890 . 20

7842 . 027980 . 00

12296 . 31

12757 . 49

14753 . 17

7589 . 37

10119 . 16

16045 15

29489 . 46

25654 .66

1815 1 .3747 1 1 0 5

1 5472 .50

1 1 247 .98772 1 .00

21255 40

21534 662973 40

144 45 80

6255 04

8600 .68

19371 57193 41 00

24146 94

17729 .86

1 3997 27

-365 44 PRE -ST

7381 98 POST-ST

-532 . 05 POST-ST

3057 . 40 POST -ST3737 . 17 POST-ST

559 . 79 PO ST-ST

257 .98 POST -ST420 .00 POST -ST

1483 . 69 POST-ST

1855 . 55

6806 . 83

620 73

1 07 7 . 1 2

4967 3 5

2 1 00 .5 4

8470 .34

5098 . 631 10 1 . 45

1215 .00

- 222 . 98- 371 00

7094 . 60

-359 . 6651 . 60

404 20

7824 .30

11198 .39

7487 .656592 .04

POST-ST

POST -ST

POST-ST

POST-ST

POST-ST

POST-ST

POST-ST

POST-STPOST-ST

POST-ST

PO ST-STPO ST-ST

PO ST-ST

POST-STPOST-ST

POST-ST

PRE-ST

POST-S T

POST-STPOS T -ST

- 17 02 POST -ST

- 213 . 76 POST -ST

3257 23 POST - ST

ACCT H268 656D400 0 MERRILL LYNCH TRUST COMPANY FSB PAGE 288FROM 03 /01 /2003 STATEMENT OF CAPITAL GAINS AND LOSS E STO 02 /29/2004 ORVILLE & RUTH MERILLAT FDN RUN 06/04/2004


TAX PREPARER : EXETRUST ADMINISTRATOR . MG1 LEGEND : F - FEDERAL S - STATE I - INHERITEDINVESTMENT OFFICER : CBH E - EX EMPT FROM STATE U - ACQ COST UNKNOWN

PROPERTY DESCRIPTION SHARES DATE SALES PR I CE COST BASIS GA I N/LOSS TERM-------------------- ------ ---- ----------- ---------- --------- ----

380 0000 FRESH DEL MONTE PROD INC - G36738105SOLD 03/27/2003 5895 63ACQ 300.0000 09/06/2002 4654 .44

80 .0000 09/06/2002 1241 .19200.0000 GARMIN LTD (KAYMAN IS) - 637260109

SOLD' 06/12/2003 10029 53ACQ 200.0000 06/10/2003 10029.53

3700 .0000 GARIdIN LTD (KAYMAN IS) - G37260109SOLD, 06/26/2003 143127 80ACQ 3700.0000 06/23/2003 143127 .80

66000 0000 GLOBAL BIO-CHEM TECH GRP 1HKD PAR ORDINARY - G3919S10 5SOLD 03/27/2003 14922 60ACQ 66000.0000 02/05/2003 14922 .60

450 .0000 HELEN OF TROY LTD-NEW - G4388N106SOLD 02/27/2004 13108 12ACQ 450.0000 01/28/2004 13108 .12

50 .0000 IPC HOLDINGS LTD - G4933P10 1SOLD 03/05/2003 1422 16ACQ 50.0000 09/06/2002 1422 .16

500 .0000 IPC HOLDINGS LTD - G4933P10 1SOLD 05/05/2003 17684 .62ACQ 50.0000 09/06/2002 1768 .46

450 .0000 09/06/2002 15916.164680.0000 KESA ELECTRICALS - G5244H10 0

SOLD 01/14/2004 23488.92ACQ 280.0000 11/21/2002 1405 .32

4400 .0000 09/10/2002 22083 .604000.0000 NOBLE CORPORATION - 665422100

SOLD 04/22/2003 126290 88ACQ 4000 .0000 12/19/2002 126290 .88

***ADDED*** 09/22/03 CER325 .0000 02 MICRO INTL LTD - G6797E10 6

SOLD 06/06/2003 5167 25ACQ 325.0000 09/11/2002 5167 .25

225 .0000 02 MICRO INTL LTD - G6797E10 6SOLD 06/20/2003 3549 .93ACQ 225 0000 09/11/2002 3549 93

825 0000 02 MICRO INTL LTD - G6797E10 6SOLD 01/08/2004 19462.23ACQ 825 0000 09/11/2002 19462 23

650 .0000 02 MICRO INTL LTD - G6797E10 6SOLD 01/09/2004 15609 .99ACQ 650.0000 09/11/2002 15609 99

800 0000 ROYAL BANK OF SCOTLAND - G7689111 1SOLD 06/13/2003 23160 00ACQ 450.0000 11/13/2002 13027 .50

350 .0000 09/16/2002 10132 5024000.0000 TCL INTL HLDGS LTD - G8701T10 4

SOLD 04/10/2003 5330.40ACQ 24000.0000 01/09/2003 5330 40

8200 0000 TESCO PLC 5P FN - 68762110 1SOLD 06/13/2003 28973 06ACQ 8200.0000 04/14/2003 28973 06

183 .0000 TESCO PLC 5P FN - G87621101SOLD 10/07/2003 741 15ACQ 183.0000 07/03/2003 741 .15

26000 .0000 TEXWINCA HOLDINGS LTD 05HKD PAR ORDINARY - G8770Z10 6SOLD 06/13/2003 20311 .20ACQ 26000.0000 02/05/2003 20311 .20

15000 .0000 VODAFONE GROUP PLC 1GBP PAR ORDINARY - 69388210 1SOLD 06/13/2003 31270.50ACQ 15000.0000 11/26/2002 31270 .50

780 .0000 WILLIS GROUP HLDINGS LTD - 696655108SOLD 06/12/2003 25484 36ACQ 400.0000 06/04/2003 13068 .90

380 0000 09/16/2002 12415 .463500 .0000 WPP GROUP PLC 10P FN GBP PAR ORDINARY - 697974102

SOLD 06/13/2003 28858 55ACQ 1700.0000 04/25/2003 14017 .0 1

1800 .0000 04/25/2003 14841 5430 0000 GIVAUDAN AG DUEBENDORF - H3238Q10 2

SOLD 03/05/2003 10756 29ACQ 30.0000 10/11/2002 10756.29

880 .0000 LOGI'fECH INTL SA REG 1 .CHF PAR ORDINARY - H50430208SOLD 06/13/2003 34100.00ACQ 880.0000 11/26/2002 34100 00

250 .0000 SWISS REINSURANCE PV10 1CHF PAR ORDINARY - H8404613 7SOLD 06/13/2003 16312 50ACQ 250.0000 04/29/2003 16312 50

400 0000 UBS NG (REGD) 1O .CHF PAR ORDINARY - H8920G55 1SOLD 06/13/2003 22830.96ACQ 400.0000 11/26/2002 22830 96

1000 0000 NOK CORP 7240 FN JPY PAR ORDINARY - J5496710 4SOLD 06/13/2003 15316 60ACQ 1000 0000 04/04/2003 15316 60

8043 .002144 . 80

9734 .50

1 577 18 .79

20803 .20

13050 .76

1485 .00

1484 .9913365 .00

730 . 0710566 .8 6

143332 . 40

3389 . 75

234 6 .75

860 4 75

6779 50

10828 628185 60

7440 00

26449 92

580 30

21244 60

28425 .00

12884 0012262 .60

11871 1012522 60

13081 04

32502 .18

1 685 1 .50

20216 .60

12829 13

-3388.56 PRE-ST-903 .61 PRE-ST

295 .03 POST-ST

-14590 .99 POST-ST

-5880 .60 PRE-ST

57 36 POST-ST

-62 .84 PRE-ST

283 .47 PRE-ST2551 .16 PRE-ST

675 . 25 LT1511 516 . 74 LT1 5

- 17041 .52 PRE -ST

177 7 .50 POST-ST

1203 1 8 POST-ST

10857 48 LT15

8830 49 LT15

2198 88 POST-ST1946 .90 POST-ST

-2109.60 PRE-ST

2523 .14 POST-ST

160 .85 POST-S T

-933 40 POST-ST

2845.50 POST-ST

184.90 POST-ST152.86 POST-S T

2145 . 91 POST -ST2318 94 POST -ST

-2324 . 75 PRE - ST

1597 . 82 POST - ST

- 539 00 POST -ST

2614 . 36 POST-ST

2487 . 47 POST -ST

ACCT H268 656D4000FROM 03/01/200 3TO 02/29/2004


PROPERTY DESCR IPTION--------------------

MERRILL LYNCH TRUST COMPANY FSBSTATEMENT OF CAPITAL GAINS AND LOSSESORVILLE & RUTH MERILLAT FD N


PAGE 289

RUN 06/04/2004


SHARES DATE SALES PRICE COST BAS IS GAIN/LOSS TERM------ ---- ----------- ---------- --------- ----

450 .0000 NISHIMATSUYA CHAIN 7545 JPY PAR ORDINARY - J56741101SOLD 03/13/2003 7819 .65ACQ 150.0000 01/10/2003 2606 .55

300 .0000 10/11/2002 5213 .105000.0000 NISSAN MOTORS 7201 JPY PAR ORDINARY - J5716012 9

SOLD 06/13/2003 42031 .00ACQ 5000.0000 11/25/2002 42031 .00

300 .0000 ROHM 6963 - J65328122SOLD 04/14/2003 27150.00ACQ 300.0000 11/25/2002 27150.00

850 .0000 LUNDBECK (H) AS EUR PAR ORDINARY - K4406L12 9SOLD 03/11/2003 13338 .12ACQ 850.0000 11/13/2002 13338 .12

1500 .0000 VESTA WIND SYSTEMS 1 .DKK PAR ORDINARY - K9773J12 8SOLD 06/13/2003 16200 .00ACQ 1500.0000 06/06/2003 16200 .00

650 .0000 CHECK POINT SOFTWARE TECH LT - M2246510 4SOLD 06/12/2003 12816 .95ACQ 650.0000 05/05/2003 12816 .95

340.0000 ELBIT SYSTEMS LTD - M3760D10 1SOLD 06/13/2003 6408 .70ACQ 340.0000 07/11/2002 6408 .70

675 .0000 GIVEN IMAGING LTD COM - M52020100SOLD 05/01/2003 5096 .21ACQ 675.0000 04/01/2003 5096 .21

500 .0000 ORBOTECH LTD ORD - M7525310 0SOLD 01/05/2004 12149 .43ACQ 500.0000 09/10/2002 12149 .43

275 .0000 RADWARE LTD COM - M81873107SOLD 01/07/2004 8256 .40ACQ 275.0000 05/05/2003 8256 .40

200.0000 RADWARE LTD COM - M81873107SOLD 01/09/2004 5811 .64ACQ 200.0000 05/05/2003 5811 .64

570.0000 TARO PHARMACEUTICAL INDS - M8737E10 8SOLD 06/12/2003 31905 .79ACQ 570.0000 07/05/2002 31905 .79

100 .0000 TARO PHARMACEUTICAL INDS - M8737E10 8SOLD 08/07/2003 4933 76ACQ 100.0000 09/11/2002 4933 .76

375 .0000 TARO PHARMACEUTICAL INDS - M8737E10 8SOLD 12/24/2003 24311 01ACQ 375.0000 09/11/2002 24311 01

1250 .0000 AEGON NV(AMSTERDAM) .12EUR PAR ORDINARY - N0089J11 5SOLD 03/11/2003 8379 .88ACQ 1250.0000 11/27/2002 8379 88

1196 0000 AEGON NV(AMSTERDAM) 12EUR PAR ORDINARY - N0089J11 5SOLD 06/13/2003 12536 .47ACQ 1196.0000 11/27/2002 12536 .47

975 .0000 ASM LITHOGRAPHY HLDG N V - N0705911 1SOLD 12/22/2003 18326 .61ACQ 975.0000 09/11/2002 18326 .61

1075 .0000 QIAGEN NV - N7248210 7SOLD 12/01/2003 12361 92ACQ 1075.0000 01/22/2003 12361 .92

1700 .0000 QIAGFN NV - N7248210 7SOLD 12/02/2003 19798 .12ACQ 625.0000 04/25/2003 7278 .72

1075.0000 01/22/2003 12519 4031200 .0000 GRUPO FINANC BBVA BANC B MXN PAR ORDINARY - P49505145

SOLD 06/13/2003 26903 .76ACQ 31200.0000 03/18/2003 26903 .76

2700 .0000 TANDBERG ASA 1 .NOK PAR ORDINARY - 88639110 8SOLD 03/07/2003 11860.56ACQ 2700.0000 11/26/2002 11860 .56

4700.0000 TOMRA SYSTEMS ASA 4 .NOK PAR ORDINARY - R9173311 4SOLD 06/13/2003 23047 39ACQ 4700.0000 11/22/2002 23047 .39

1275.0000 RAS INSURANCE .6EUR PAR ORDINARY - 779470109SOLD 06/13/2003 20718 .75ACQ 1275.0000 11/26/2002 20718 .75

2600.0000 SAECO INTERNATIONAL 1000.17E PAR ORDINARY - T8123S10 2SOLD 06/13/2003 9621 .30ACQ 2600.0000 12/04/2002 9621 .30

3100 .0000 TELECOM ITALIA MOBILE - T9276A104SOLD 06/13/2003 15655.00ACQ 3100.0000 11/26/2002 15655 .00

7600 .0000 UNICREDITO ITALIANO - 79513210 5SOLD 06/13/2003 36400.20ACQ 1800.0000 11/22/2002 8621 .10

5800 .0000 11/19/2002 27779 .102400.0000 ROYAL CARRIBBEAN CRUISES LTD - V7780T10 3

SOLD 10/01/2003 68038 .01ACQ 2400 0000 09/10/2002 68038 .01

0 .0011261 . 10

39989 . 50

41861 . 67

24172 . 56

17475 .00

11206 . 00

5748 . 96

597 1 .39

8635 . 49

3638 . 25

2646 .00

1 6594 . 17

3 16 5 . 23

11869 . 62

18625 . 4 9

17135 . 47

8763.11

657 1 . 04

3747 .5065 7 1 . 0 5

24900 . 72

34823 . 52

36251 . 81

15223 . 76

9027 46

15683 . 2 1

7383 . 2922259 .24

39695 .52

260 6 .55 PRE -ST-6048 . 00 PR E- ST

2041 .50 POST-ST

- 14711 67 PRE -ST

-10834 . 44 PRE - ST

- 1 2 75 .00 POST -ST

161 0 95 POST -ST

65 9 .74 POS T -ST

-875 . 18 PRE -ST

3 5 1 3 . 94 LT15

4618 15 POST-ST

3 165 . 64 POST-S T

153 11 .62 POST-ST

1768 .53 POST-ST

12441 39 LT 1 5

- 10245 . 61 PRE -ST

- 4599 00 POST -ST

9563 50 LT15

5790 88 POST -ST

3531 . 22 POST-ST5948 . 35 POST -ST

2003 . 04 POST - ST

-22962 .96 PRE -ST

-13204 .42 POST -ST

5494 . 99 POST -ST

593 84 POST -ST

-28 21 POST - ST

1237 81 POST-ST5519 86 POST-S T

28342 49 LT15

ACCT H268 6561)4000FROM 03/01/2003TO 02/29/2004



MERRILL LYNCH TRUST COMPANY FSBSTATEMENT OF CAPITAL GAINS AND LOSSESORVILLE & RUTH MERILLAT FD N


PAGE 290

RUN 06/04/200 4

LEGEND . F - FEDERAL S - STATE I - INHER ITEDE - EXEMP T FROM STATE U - ACQ COST UNKNOWN

SHARES DATE SALES PR ICE COST BASIS GA I N /LOSS TERM------ ---- ----------- ---------- --------- ----

20000 .0000 KEPPEL LAND - V87778102SOLD 04/24/2003 11832 00ACQ 20000.0000 02/26/2003 11832 00

2600 .0000 ELEKTA CL B SEK PAR ORDINARY - W2479G107SOLD 06/13/2003 35914.32ACQ 2600.0000 11/13/2002 35914 .32

30500.0000 ERICSSON LM SEK1 SER B SEK PAR ORDINARY - W2604911 9SOLD 03/11/2003 17284.96ACQ 30500.0000 11/26/2002 17284 96

450 .0000 HENNES MAURITZ CL B FRIE SEK PAR ORDINARY - W4142210 1SOLD 06/05/2003 10035.00ACQ 450.0000 03/18/2003 10035 .00

1900 .0000 MODERN TIMES GROUP 5 .SEK PAR ORD CL"B" - W5652311 6SOLD 06/13/2003 28070 .22ACQ 1900.0000 12/03/2002 28070 .22

450 .0000 MUNTERS AB - W5679510 2SOLD 04/28/2003 8933 .40ACQ 450.0000 09/16/2002 8933 40

2643 .0000 CESKE ENERGETICKE ZAVODY CZK PAR ORDINARY - X2337V10 5SOLD 06/13/2003 10572 00ACQ 2643.0000 07/15/2002 10572 .00

3209 .0000 OTP BANK GDR REGS - X6074611 6SOLD 06/13/2003 65303 15

2000 .OOOA~ONOKIA(AB)OY 9EUR00 06 .06EUR5PAR ORDINARY - X618731335

SOLD 06/13/2003 33800.00ACQ 2000.0000 11/13/2002 33800 .00

28000 .0000 ANHUI EXPRESSWAY CO-H - Y01374100SOLD 04/23/2003 5759.60ACQ 28000.0000 02/27/2003 5759 .60

30000 .0000 CHINA UNICOM LTD 1HKD PAR ORDINARY - Y1512510 0SOLD 03/06/2003 16287 00ACQ 30000.0000 11/20/2002 16287 00

25000 .0000 CITIC INTERNATIONAL FINL - Y1636Y10 8SOLD 04/23/2003 5812 .50ACQ 25000.0000 03/17/2003 5812 50

1700 .0000 FLEXiRONICS INTERNATIONAL LT - Y2573F10 2SOLD 06/12/2003 18258 67ACQ 1700.0000 11/22/2002 18258 67

1075 .0000 FLEXTRONICS INTERNATIONAL LT - Y2573F10 2SOLD 10/24/2003 14590 .61ACQ 525.0000 11/11/2002 7125 65

550.0000 11/08/2002 7464 .965300 .0000 FLEXfRONICS INTERNATIONAL LT - Y2573F10 2

SOLD 11/19/2003 75771 08ACQ 5300.0000 11/15/2002 75771 .08

1498 .0000 GENTING BERHAD .5MYR PAR ORDINARY - Y26926116SOLD 06/20/2003 5654 20ACQ 1498.0000 07/05/2002 5654 20

2997 .0000 HENDERSON LAND DEVELOPMT - Y31476107SOLD 05/13/2003 7865 33ACQ 2997.0000 07/05/2002 7865 33

7000 .0000 HONG KONG & CHINA GAS CO - Y3337010 0SOLD 04/24/2003 8182 30ACQ 7000.0000 09/16/2002 8182 .30

18094 .0000 KASIKORNBANK PCL 10 .TH6 PAR ORDINARY - Y4591R11 8SOLD 06/13/2003 17960.10ACQ 10094 .0000 07/05/2002 10019 .30

8000 0000 06/06/2003 7940 .8077000.0000 LAND & HOUSE PUB(F) PV1 1 .TH6 PAR ORDINARY - Y5172C198

SOLD 06/13/2003 16393 30ACQ 77000.0000 06/05/2003 16393 30

2997 .0000 MAHINDRA & MAHINDRA GDR 10 .USD PAR ORDINARY - Y54164119SOLD 06/12/2003 8331 .66ACQ' 2997.0000 07/08/2002 8331 .66

152587 .0000 LIPPO BANK TBK 5000 .IDR PAR ORDINARY - Y71289253SOLD 06/13/2003 9658 76ACQ 152587 .0000 12/19/2002 9658 76

35170 .0000 TELEKOMUNIKASI INDON(SL) - Y7147412 9SOLD 06/13/2003 18865 19ACQ 35170.0000 07/05/2002 18865 .19

5000 0000 SIAM CEMENT PCL (F) 1 .THB PAR ORDINARY - Y7866P14 7SOLD 06/13/2003 18069.00ACQ 5000.0000 06/05/2003 18069.00

9305 .0000 SIAM COMMERCIAL BANK (F) 10 THB PAR ORDINARY - Y7905M11 3SOLD 06/13/2003 8739 .26ACQ 9305.0000 07/05/2002 8739 .26

18000 0000 TECHIRONIC INDUSTRIES - Y8563610 0SOLD 06/13/2003 28742.40ACQ 18000 .0000 09/16/2002 28742 .40

3785 .0000 TATA MOTORS LTD GDR - Y85740127SOLD 05/02/2003 11536 30ACQ 3785.0000 07/08/2002 11536 30

14824 . 00

25336 .06

31524 . 80

9679 . 05

23583 . 18

10650 .06

6391 . 81

48299 . 28

33424 . 20

7266 .00

2 29 71 .00

707 7 .50

18632 .00

4347 . 004737 . 48

49524 . 26

4395 . 33

13295 .25

9547 . 27

4063 . 537615 . 20

16732 . 10

24472 . 87

0 00

8091 . 57

16176 . 50

5364 . 53

15040 . 66

6434 . 50

-2992 00 PRE-ST

10578 .26 POST-ST

-14239 .84 PRE-ST

355 .95 POST-ST

4487 .04 POST-ST

-1716 .66 PRE-ST

4180 .19 POST-ST

17003 87 POST-ST

375 .80 POST-ST

-1506 40 PRE-ST

-6 684 .00

-1265 .00

-373 . 33

2778 . 652727 . 48

26246 82

12 58 . 8 7

-5429 92

-1364 .97

5955 .7 7325 .60

-338 .80

PRE-ST

PRE-ST

POST-ST

PO ST-STPO ST-ST

LT1 5

POST-ST

POST-ST

PRE-ST

POST-STPOST-ST

POST-S T

- 16141 21 POST -ST

9658 76 POST-ST

10773 .62 PO ST-ST

1 892 50 POST-ST

3374 73 POST-ST

13701 .74 POST-ST

5101 .80 PRE-ST

ACCT H268 •656D4000 MERRILL LYNCH TRUST COMPANY FSB PAGE 291FROM 03/01/2003 STATEMENT OF CAPITAL GAINS AND LOSSESTO 02/29/2004 ORVILLE & RUTH MERILLAT FDN RUN 06/04/2004


TAX PREPARER : EXETRUST ADMINISTRATOR- MG1 LEGEND : F - FEDERAL S - STATE I - I NHER I TEDINVESTMENT OFFI CER :CBH E - EXEMPT FROM STATE U - ACQ COST UNKNOWN

PROPERTY DESCR I PTION SHARES DATE SALES PRICE COST BASIS GA I N /LOSS-------------------- ------ ---- ----------- ---------- ---------

28000 .0000 TSI NGTAO BREWERY CO H 1 . HKD PAR ORD INARY- Y8997 D102SOLD 06 /13/2003 20028 40ACQ 28000 .0000 01 /09/2003 20028 .40 14840 ,00 5188 .40

26000 .0000 ZHE J I ANG EXPRESSWAY CO H 1 . HKD PAR ORD I NARY - Y9891F102SOLD 04 /16 /2003 9763 . 00ACQ 26000 . 0000 02/05 /2003 9763 .00 10957 . 72 - 1194 . 72

38000 .0000 ZHE J I ANG EXPRES SWAY CO H 1 . HKD PAR ORDINARY - Y9891F10 2SOLD 04/24/2003 12619 . 80ACQ 38000 . 0000 02 /05 /2003 12619 .80 16015 . 14 -3395 . 34

-------------- ---------------TOTALS 3588546644 3291093858

--------------- ------------------------------ ---------------

TERM

POST -ST

PRE - ST

PRE -ST

ORVILLE D . & RUTH A . MERILLAT FOUNDATIONGAIN OR (LOSS) FROM SALE OF ASSETSFORM 990-I' F

DESCRIPTIONMANNER DATE DATE

ACQUIRED ACQUIRED SOL D

ALLINZ AKNGSLST SPDAXA HOLDINGTELEFONICA SA SPAINCOUNTRYWIDE FINANCIAL CORPCOMMERCE BANCSHARESCHRISTOPHER & BKS CORPDORAL FINANCIAL CORPTELEFONICA SA SPAINICG COMMUNICATIONS INCICG COMMUNICATIONS INC

PURCHASE

PURCHASE

PURCHASEPURCHASE

PURCHASE

PURCHASE

PURCHASE

PURCHASE

PURCHASEPURCHASE

VARIOUSVARIOUSVARIOUSVARIOUSVARIOUSVARIOUSVARIOUSVARIOUSVARIOUSVARIOUS

5/9/200310/10/200311/10/200312/30/200 31/12/20049/8/2003

12/23/20035/21/2003

10/21/200310/21/2003

38-247681 3

PROCEEDS BASIS GAIN/(LOSS )

6873 . 70309 . 10973 . 64

51 . 3911 . 9614 . 0416 . 435 . 205 . 714. 31

6873 . 70309 . 10973 . 64

0 . 000 .000 .000 .000 .000 .000 . 00

0 . 000 . 000 00

51 . 3911 . 9614 . 0416 . 43

5 . 205 . 714 . 3 1

8265 .48 8156 .44 109 .04

ORVILLE D . & RUTH A . MERILLAT FOUNDATION 38-247681 3

FORM 990-PF INTEREST ON SAVINGS AND TEMPORARY CASH INVESTMENTS STATEMENT 1

SOURCE AMOUNT

INTEREST INCOME - CHECKING 1,402 .MERRILL LYNCH 656-04J06 26,779 .

TOTAL TO FORM 990-PF, PART I, LINE 3, COLUMN A 28,181 .

FORM 990-PF DIVIDENDS AND INTEREST FROM SECURITIES STATEMENT 2

SOURCE

MERRILL LYNCH 656-04J06MERRILL LYNCH 656-74D40MERRILL LYNCH 656-74E07MERRILL LYNCH 656-74E08MERRILL LYNCH 656-74E09MERRILL LYNCH 656-74E10MERRILL LYNCH 656-74E11MERRILL LYNCH 656-74E12MERRILL LYNCH 656-74E13MERRILL LYNCH 656-74E1 4

TOTAL TO FM 990-PF, PART I, LN 4

CAPITAL GAINS COLUMN (A)GROSS AMOUNT DIVIDENDS AMOUNT

981. 0.10,162. 0.

110,197. 0.229,636. 0.137,776. 0.2,211. 0.34,519. 0.18,262. 0.95,178. 0.

219. 0.

639,141. 0.

981 .10,162 .

110,197 .229,636 .137,776 .

2,211 .34,519 .18,262 .95,178 .

219 .

639,141 .

FORM 990-PF LEGAL FEES STATEMENT 3

DESCRIPTION

ATTORNEY FEES

TO FM 990-PF, PG 1, LN 16A

(A) (B) (C) (D)EXPENSES NET INVEST- ADJUSTED CHARITABLEPER BOOKS MENT INCOME NET INCOME PURPOSE S

4,534 . 3,400. 0. 1,134 .

4,534 . 3,400. 0. 1,134 .

STATEMENT(S) 1, 2, 3

ORVILLE D . & RUTH A . MERILLAT FOUNDATION

FORM 990-PF

DESCRIPTION

ACCOUNTING FEE S

TO FORM 990-PF, PG 1, LN 16B

ACCOUNTING FEES

(A) (B)EXPENSES NET INVEST-PER BOOKS MENT INCOME

27,850 . 26,850 .

27,850 . 26,850 .

(C)ADJUSTEDNET INCOME

0 .

0 .

38-247681 3

STATEMENT 4

(D)

CHARITABLE

PURPOSES

1,000 .

1,000 .

FORM 990-PF OTHER PROFESSIONAL FEES STATEMENT 5

EXPENSES NET INVEST- ADJUSTEDDESCRIPTION PER BOOKS MENT INCOME NET INCOME

MANAGEMENT FEES 559,886 . 559,866. 0.

TO FORM 990-PF, PG 1, LN 16C 559,886 . 559,866. 0.

FORM 990-PF

DESCRIPTION

FOREIGN TAXES PAIDEXCISE TAXE S

TO FORM 990-PF, PG 1, LN 18

TAXE S


15,026 . 15,026 .30,000. 0.

45,026 . 15,026 .

(D)CHARITABLEPURPOSES

0 .

0 .

STATEMENT 6

(C) (D)ADJUSTED CHARITABLENET INCOME PURPOSES

0. 0.0. 0.

0. 0.

FORM 990-PF OTHER EXPENSES STATEMENT 7

DESCRIPTION

MISCELLANEOUS EXPENSE S

TO FORM 990-PF, PG 1, LN 23


372. 362 .

372. 362 .

(C)ADJUSTEDNET INCOME

0 .

0 .

(D)CHARITABLEPURPOSES

10 .

10 .

STATEMENT(S) 4, 5, 6, 7

ORVILLE D . & RUTH A. MERILLAT FOUNDATION 38-2476813

FORM 990-PF CORPORATE STOCK STATEMENT 8

DESCRIPTION BOOK VALUEFAIR MARKET

VALUE

SEE ATTACHED STATEMEN T

TOTAL TO FORM 990-PF, PART II, LINE lOB

55,726,162 . 75,477,859 .

55,726,162 . 75,477,859 .

FORM 990-PF CORPORATE BONDS STATEMENT 9

DESCRIPTION

SEE ATTACHED STATEMENT

TOTAL TO FORM 990-PF, PART II, LINE lOC

FAIR MARKETBOOK VALUE VALUE

433,005. 0.

433,005. 0.

FORM 990-PF OTHER INVESTMENTS STATEMENT 10

FAIR MARKE TDESCRIPTION BOOK VALUE VALUE

SEE ATTACHED STATEMENT 90,000 . 75,000 .

TOTAL TO FORM 990-PF, PART II, LINE 13 90,000 . 75,000 .

STATEMENT(S) 8, 9, 10

ORVILLE D . & RUTH A. MERILLAT FOUNDATION 38 -2476813

BOOK VALUE FAIR MARKET VALU ECORP CORP

ACCOUNT EQUITIES BONDS OTHER EQ UITIES BONDS OTHER

656-04JOfi656-74D40656-74EO7656-74E08656-74E09656-74E1 0656 -74E1 1656-74E1 3656 -74E14

TOTAL

433,00515,591 90,000 33,873 75,000

12,856,440 16,458,39512,223,779 17,331,4756,705,150 10,359,5152,705,766 3,556,4662,786,195 3,424,8533,412,040 5,039,78715,021,201 19,273,495

55,726,162 433,005 90,000 75, 477,859 0 75,000

0

V10CM ACCOUNT Uxr.IDmui,ADVANTAGE

Corporate Bond129, o0o E.SPIRE COM MUNICATIONS 07/02/02 91 . 02 117, 418 N/A N/A N/A

SR DN 0% UNTI L 11 /01 /2 00 073 00 0% NOV 01 20 05MOODY'S : "' S&P: " '

134 , 000 ICO HOLDINGS I NC ESCROW N/A N/A 1a5,44d, N /A N/71 N/ACOMP GTD NOTE SMULTI% MAR 16 2007MOODY 'S: "' S&P: "'

61, 0 0 0 IN7ELCOM GROUP E SCROW N/A N/A 47,53 N/A N/A N/ANON-INT SRDN TI LL 5/0 11 2 .500% MAY 01 2008M OO DY' S : "' S&P : "'

96 , 000 E . SP IRE COMM INC 07/02/02 61 .49 59,023 N/A N /A N/AS R D IS COUNT NOTESM ULT I% JUL 012008MOODYS : "' S&P : "'

iis, o oo E .;cP IRECOMMUN ICATIONS 07/02/02 90 . 06 103,559 N/A N/A N/AS ENIOR N OTES13.750% JULY 15 2007MOOD Y'S : "' S&P: "'

To tal Corporate Bonds 433,005

Totalof Long Portfolio ~jla 0-1r-{- 379 ,069• • 909 .24Rating curren tly unavail able or not reled lunrated as provided by Rating Agency or recognized Indu stry wide th ird party v en dor so urces

- Excludes N/A Items

+ ORVILLE D. & RUTH A MERILLAT

Pege Statement Period Account No.6 Of 9 01/3 1 / 04 TO 07!27/0 4 85604 J08 010013 1019

TRUST MANAGEMENT ACCOUNT

Statement of Principal Investments Adjusf/Unk Total Estimated Estimated Unrealized Estimated CurrentDate Cost Cost Market Market Gain or Annual Yield

Quantity Security Description Symbol Sector Acquired Basis B asis Price Value (Loss) Income %

Equities

29,11 0

2,029

LLP PO BANK TBK PLP%F (K) N /A N/ ASD O O . ID R PAR O RDINARY

ROHM POLSKA MID GDR AEG3 Z K6IP ( R) 0 7/05/02 7 .6 8U9D PAR ORDINARY

0 .07 2,322

15,591 1 5 .55 31,550 1 5,959

001013 1019

+ ORVI LLE & RUTH MERILLAT FOUNDA

Pege Statement Period Account No5 of '131 01 /311 04 TO 04/ 27/04 656-741340


Statement of Principal Investments AdJust/UnR Total Estimated Estimated Unrealized Estimated CurrentQuantity Security

Cost Cost Market Market Gain or Annual Yiel dDescription Symbol Sector Acquired Basis Basis Price Value (Loss) Income %

Total Equities 15,591 33,873 15,95 9Other

75 GII.-SILVER LAKE OFFSHORE 01/22/04 1200 .00 90,000 1,000 .00 75,000 (15,000)IT CL A-QUANTITY REFLECTONLY PAID-IN CONTRIBUTNS

Total Other 90,000 75,000 (15,000 )

Total of Long PortfolIo 651,319 654,601 959 3,056 .47- Excludes N/A Items

+ ORVILLE & RUTH MERILLAT FOUNDA

Page State ment Period Account No6 of 131 01/ 31 / 04 TO 01J 27/04 65674 1340 000,3 1019


Statement of Prlnclpal Investments Ad)usflUnit Total Estimated Estimated Unrealized Estimated CurrentDate Cost Cost Market Market Gain or Annual Yield

Quantity Security Descriptlon Symbol Sector Acquired Basis Basis Price Value (Loss) Income %

6qul tle s

6,700 APOLLO GROUP INC CL A APOL 11/07/02 4 1 . 40 277,380 76 .23 510,741 233,36 1

6,800 AMERICA MOVIL SER L ADA Al9C 08/26/03 22 .25 151,300 35 .66 242, 488 91,188 741 .303,300 AMERICA MOVIL 98R L ADR 08/28/03 22 .75 75,075 35 . 66 117,678 42,603 359 .303,300 AMERICA MOViL SER L ADR 09 /10/03 23 .12 76 , 309 35 .66 117,678 41,368 359 .303,200 4MERICA MOVIL 9ER L ADR 09/11/03 23 .14 74,077 35 . 66 1 14, 112 40,034 348 . 3 016,600 Security Sub-Total 376,762 591,956 215 ,193 1 , 809 .30

2,000 ANTHf24 INC CAM ATH 02/03/04 83 .14 166 , 283 85 . 95 171 ,900 5,616

4,600 APACHE CORP APA 06/05/03 33 .05 152,050 41 .17 189,387 37,331 1,103 .588,000 APACHE CORP 06/19 /03 31 .24 257,991 41 .17 329,360 71,368 1,919 .5812,600 Security Sub-Total 410 ,041 518,742 108,699 3,023 . 5 8

9,900 ARCHER DANIELS MIDLD ADM 02/06 /04 17 .19 170,216 17 . 20 170,280 63 2,375 1 . 39

2,700 BEST BUY CO INC BBY 07/18/03 44 .42 119 ,953 53 . 25 143 , 775 23,821 1,080 . 755,200 13E9T BUY COINC 08 /05 /03 40 . 83 212, 355 53 . 25 276,900 6 4,545 2 , 080 . 757,900 Security Sub-Total 332,308 420,675 88,366 3 , 160 . 75

2,900 BLOCK HkR INC HRH 12/22/03 53 .15 154,144 54.05 156,745 2,600 2,319 1 .48

9,400 BOSTON SCIENTIFIC CORP BSX 08/05 /03 32 .00 300,801 4 0 . 85 383,990 83,1884,600 BOSTON SCIENTIFIC CORP 08/20 /03 32 .32 148,695 40.85 187,910 39,2153, 200 BOSTON SCIENTIFIC CORP 08/29/03 30 . 21 96,690 40 .85 130,720 34,0293,200 BOSTON SCIENTIFIC CORP 08/29/03 29 . 72 95,125 40 .85 130,720 35,594

20 ,400 Security Sub -Total 641 ,313 833,340 192,02 6

2,700 BURLINGTON RESOURCES INC BR 01/12/04 57 .20 154,440 58 . 54 158,058 3,618 1,619 1 .023,300 BURLINGTON RESOURCES INC 02/05/04 53 . 54 176,714 58 .54 193 ,182 16,467 1 ,979 1 .016 ,000 Security Sub-Total 331 ,154 351 , 1 40 20 ,085 3 , 599 1 .02

+ ORVILLE & RUTH MERILLAT FOUND A

P?1

e Statement Period Account No .12 31 01/31/04 TO 02127104 65674E07 001013 1019


Statement of Principal Investments AdJusNUnit Total Estimated Estimated Unrealized Estimated CurrentDate Cost Cost Mar ket M arket Gain or Annual Yield

Quantity Security Description Symbol Sector Acquired B asis B asis Price Value (Loss) Income %

Equitie s

3,700 CAPITAL ONE PINL CA P 06/ 13/03 52 81 195,4 10 70 .72 261,664 66,253 3 95 . 1 53,700 CAPITAL ONE FINL 07/2 4 /03 48 .3 1 178,772 70 . 72 26 1 ,6 64 82,891 3 95 157, 400 Security Sub-Tot al 37 4,183 523,328 149,144 791 15

6,500 CARF29ARR RX INC CM4[ 08/ 11/03 24 .65 1 60, 22 5 32 .26 20 9 , 69 0 4 9, 4 6 5

15,600 CEND ANT COR P $0 .01 CD 1 2/0 1 /03 22 . 14 345,468 2 2 .70 354,120 8,651 4 ,368 1 .235,900 CENDANT CORP $0 .01 12 / 12 / 0 3 2 1 .09 1 2 4 , 48 3 22 .70 13 3 ,930 9,446 1 , 6 52 1 23

21,500 Security Sub-Tot a l 4 6 9 , 9 51 488 ,050 18 ,097 6,020 1 .2 3

2 , 4 00 COACH INC CAH 02/26/03 1 6 .91 40,595 39 .63 95,1 12 5 4 ,51 65,600 COACH INC 02/27/03 17 .02 95,329 39 .63 221,918 126,5988,000 Security Sub-Total 135,925 317,0 4 0 181,114

24,300 CIS CA SYSTEMS INC CAM CSCO 07/ 28/03 1 9 .03 462,582 2 3 .16 562,788 100,2056 , 400 C I S CA SYSTEMS INC COM 09/03/03 20 .49 13 1 , 19 6 2 3 . 1 6 148,224 17,02730,700 S ecurity Sub-Tot al 593,77 8 7 11 ,012 117,23 2

1 ,73 3 COUNTRYWIDE FINANCIAL CFC 1 1/07/ 0 2 38 . 6 0 6 6, 554 9 1 . 63 15 8 ,794 92,240 1 ,52 5 .96COR P

3, 4 66 COUNTRYWIDE FINANCIAL. 07/25/03 53 .44 1 85, 249 91 .63 3 17,5 89 13 2 ,3 40 3,050 .96COR P

1, 2 01 COUNTRYWIDE F INANCIAI. 07/ 29/03 5 3 .39 6 4 , 12 3 9 1 .6 3 1 10,04 7 45,923 1,05 6 .96COR P

6, 400 Security Sub -Total 315,9 27 586,432 270,503 5,632 .96

2 , 1 00 DANAHER CORP D EL CAM DHR 09/30/03 73 .48 15 4,311 89 .6 3 188,223 33,9 11 2 10 . 113,00 0 DANAHER CORP DEL CAM 12/15/03 89 .10 2 67,321 89 .63 268 , 890 1 ,56 8 300 . 115, 1 0 0 S ecuri ty Sub -Tota l 421,6 33 4 57 ,1 1 3 35 , 479 51 0 . 11

5,800 SHAY INC CAM EB AY 0 8/19/03 55 03 319, 213 68 .70 39 8,4 60 79,2 4 65,600 EBAY I NC CAM 0 8/21/03 5 5 .78 312,38 4 68 .70 3 84,7 20 72,33 5

1 1,400 Security Sub-Total 631,598 7 8 3, 18 0 15 1 ,58 1

4 , 400 FORTUNE BR ANDS I N C FO 12/16/03 69 .79 3 07,11 9 71 .48 3 1 4 , 5 1 2 7,392 5 ,280 1 .67

3 , 9 0 0 GOLDN WST FIN CP DEL GDW 12/26/02 73 . 11 2 8 5, 155 1 1 5 4 2 4 50,138 1 6 4 ,9 8 2 1 ,5 60 . 368 00 GOLDN WST FIN CP DEL 01/ 23/03 73 .97 5 9 , 18 2 115 . 42 92 ,33 6 33, 1 53 320 . 3 4

4,700 Security Sub- Total 3 44,337 54 1 , 0 74 1 98, 1 35 1 , 88 0 . 3 4

1 1,200 INTL GAME TECHNOLOGY IGT 11/21/02 1 9 .80 2 21,821 39 .24 439, 488 217,666 4, 480 1 .0 18,400 INTL GAME TECHNOLOGY 01/0 8 /03 1 8 .54 1 5 5 ,806 3 9 . 24 329,6 1 6 173,809 3, 36 0 1 . 0 1

19,600 Security Sub-Total 377,628 769,10 4 391, 475 7, 840 1 .01


P e Statement Period Account No13 or 1 3 1 01/31/04 TO 0 71 271 04 65674817 001013 1019


Statement of' Prlnclpallnvestments Adjust/ U nit Total Estimated Estimated Un reali zed Esti m ated C urrentDate Co st Cost Market Market Gain or Annual Yiel d

Quantity Security Description Symbol Sector Acquired B asis B asis Price Value (Loss) Income %

Equities

1,100 JOHNSON CONTROLS INC JCI 01/ 15/0 4 5 9 .0 4 6 4 ,9 45 58 .32 64,152 (793) 98 9 1 .5 41,600 JOHNSON CON TROLS INC 0 1/16/0 4 59 .20 9 4 ,720 58 .32 93 ,312 (1, 408) 1,439 1.542,700 Secu rity Sub-Total 159,665 157,46 6 (2,201) 2 ,429 1 .54

2, 100 LEGG MASON INC LM 09/22/03 7 6 .14 1 59, 9 04 96 .34 19 8 , 1 1 4 3 8 , 209 1,260 . 6 3700 LEGG MA SON INC 11/11/03 83 .20 58,2 40 9 4.34 6 6 ,038 7,798 4 20 . 6 3

2,800 S ecu ri t y Sub -Tot al 218,144 26 4 ,152 4 6,007 1,680 .63

1 ,600 LOWE'S COMPANIES I NC LOW 08/28/03 5 4 .63 8 7, 412 56 .00 89,600 2,1 87 1 9 2 .2 12 ,700 LOWE'S COMPANIES INC 08/29/03 54 .45 1 4 7,015 5 6 .00 1 5 1,200 4 ,1 8 5 324 .211 ,800 ?AWE'S COMPANIES INC 0 9 /16/03 52 .5 0 94,517 56 .00 100, 800 6, 282 216 .2 16, 100 Secur i t y Sub-Tot al 328,944 341,600 1 2 ,6 54 732 .2 1

1 3,000 1+IDNA CORP CAM RRB 09/04/03 23 .64 307,372 27 .33 355, 290 47,9 18 6,23 9 1 .75

6,400 IdYLAN LABORATORS INC M YL 07/30/03 21 .e2 139,652 23 .50 1 50, 400 10,747 767 .5 1

3,900 NEWMONT MINING CORP NEM 01/29/04 41 .30 161,070 43 45 16 9, 455 8,3 8 5 78 0 . 46

1,700 HIRE INC C L B NKE 0 1/16/0 4 69 .48 1181118 73 .25 12 4,525 6, 406 1,360 1 .091,800 14 IRE INC CL B 01/26/0 4 69 .78 125,61 2 73 .25 131,850 6,237 1, 660 1.093,500 Secu rity Sub-Tot al 2 43,731 256,375 12,643 2, 8 00 1 . 0 9

15,400 Ii ORIA CORP ADR NOR 02/02/04 2 0 .93 33 1 , 600 2 1 . 77 335, 2 5 8 1 1,857 4,974 1 .484 , 100 li ORI A CORP ADR 02/04/04 20 .41 8 3,71 5 21 .77 89,257 5,541 1,324 1 . 48

1 9 ,500 Securi ty Sub -Tot a l 4 0 6 , 115 424,515 1 8,398 6,298 1 .4 8

1 ,900 QUEST DIA GNOSTICS INC DG X 02/0 2 /04 84 .3 1 160,192 82 . 87 157,453 (2,739) 1 , 139 .72900 QUEST DIAGNOSTICS INC 02 /09 /04 84 . 26 75,842 8 1 .87 74 ,583 (1,259) 539 .72800 QUEST DIAGNOS TICS INC 02/ 13/04 83 .09 6 6, 4 7 6 82 . 87 66,296 (1 80 ) 479 .7 2

3,600 S ecurity Su b -Total 302,5 1 1 298 ,332 ( 4 , 1 7 8 ) 2,159 .7 2

2 ,900 QUALCANAS INC QCAM 02/10/0 4 5 8 .04 16 8 ,3 28 63 .09 1 82 ,961 14 ,632 8 1 1 .444,900 QUALCAtM7INC 02/2 4 /04 60 .84 29 8 , 1 5 8 63 .09 30 9 ,141 10,982 1,371 .447, 800 S ecurity Sub-Tot al 466,486 492,102 25,61 4 2,18 3 .4 4

15,9 00 STAPLES INC SP L S 11/ 21/02 1 8 .70 297,3 80 26 .15 615,7 8 5 118,4043, 400 STAPLES I NC 04/29/03 1 9 . 09 64 , 915 2 6 .15 88, 930 23,9941, 400 STAPLES INC 11/05/03 26 .72 37,410 26 .15 36,610 (800)20,700 Security Sub-Total 399,706 54 1, 305 141,598

1,078 STRYKER CORP SYK 07/0 2 /0 2 5 6 .7 4 61,173 88.73 95,650 3 4 , 4 772 , 300 9TRY KER CORP 11/15/02 64.96 149,415 8 8 .73 20 4,079 5 4 ,6631, 100 sTRYKER CORP 02/05/04 88 . 40 97, 24 0 8 8 .73 97, 603 363

+ ORVI L LE & RUTH MERILLAT FOUNDA

Pa e Statement Period Account N o1 4 o f131 01131104 TO 02127104 65674ED7 001013 1019


Statemen t of Principal Inves tments AdJustlUnit Total Estimated Estimated Unrealized Estimated CurrentData cost cost Market Market Gain or Annual Yield

Quantity Sec urity Description Symb o l Sector Acquired Basis Bas is Price Val u e ( Loss) I ncome %

Equities

4,478 S ecu rity Sub-Total 307,82 9 397, 3 3 2 89,50 3

1 1,100 SUNCOR ENERGY I NC NPV SD 11/07/02 1d .75 1 6 3,736 2 5 .98 2 8 8 ,378 12 4 , 64 1 2 ,219 .76

4 ,700 SYMANTEC CORP COM SYMC 13/ 15/0 3 33 .11 155,649 d 0 .95 192,465 36, 81 54,000 SYMANTEC CORP CAM 01/21/04 37 .8 2 151,30 2 40 .95 163,800 12,4978,700 Sec urity Sub-Total 3 0 6 ,952 3 56, 26 5 4 9, 3 1 2

8,600 TEVA PHARMA CTCL INDS ADR TEVA 1 1/07/02 36 .93 317, 636 6 5 .09 559,77 d 242,137 2,209 .391, 800 TEVA PHARMACTCL I NDS ADR 11/13/02 35.75 6 4,350 6 5.09 117,162 52,812 46 2 .3 9

10, 400 Security Sub-Total 3 8 1,986 6 76, 936 29 4 ,9 49 2, 6 72 .3 9

3,700 3M COMPANY FIIMf 12/23/03 8 4.95 31 4,319 78 02 288,67 d (25,645) 5,328 1 8 42,000 3M COMPANY 01/09/0 4 82 . d2 16 d ,8 47 78 .02 156,0 d0 (8,807) 2,880 1 845,700 Security Sub-Total 479,166 444,714 (3 4 , 452) 8,208 1 .8 4

6,552 UNITEDHEALTH GROU P INC UNH 07/02/02 32 .24 211,247 62 .00 d06,224 1 9 d , 9 76 1 96 . 042,600 UNITEDHEALTN GROUP INC 06/ 25/03 50 .08 130, 210 6 2.00 161,200 30,989 78 .049 , 152 Secu rity Sub- Total 341,457 5 6 7, d 2 4 22 5 , 965 274 .0 4

1,200 VARIAN MED I CAL SYS INC VAR 0 1 /1 6/04 74 .92 89, 907 8 3 .74 100,488 10,5801,100 VARIAN MED I CAL SYS INC 01/15/0 4 7 4 . 8 9 8 2,3 82 83 .74 92 , 1 1 4 9,731

600 VARIAN MEDICAL SYS INC 02/06/04 82 .91 49,746 83 .74 50,244 6 972, 900 Security Sub-Total 222,036 2 4 1 ,8 46 20,80 8

3 , 000 ZItM ER HOLD INGS INC CAM Z1'24 09/22/03 53 . 95 1 61 , 853 75 .64 22 6, 920 65,0671 ,5 00 ZIMME R HOLD INGS INC CAM 02/09/04 7 8.23 1 17 , 355 75 .6d 11 3, d 6 0 (3, 89 5)d,500 S ecur ity Sub-Total 279,208 340,380 6 1 , 1 7 2

5, 400 XTO ENERGY INC XTO 12/22/03 28 .23 15 2 , 456 29 .84 16 1, 136 8 ,679 2 70 .163 ,500 XTO ENERGY INC 01/28/04 27 . 51 96,294 29 .84 10 d , 44 0 8,1 d 5 175 . 1 68 , 900 Secur i ty Sub- Total 248 ,7 51 265,576 1 6,e24 445 .1 6

Total Equities 11 , 856 ,440 16 , 458 ,395 3,601,933 84 , 136 . 5 1

Total of Long Portfolio 12,868,094 16 , 470 , 049 3 , 601 , 933 84,201 . 5 1


Pag e Statement Period Account No .1 5 OT 131 01/31/04 TO 02127104 65674 7 001013 1010


Statement ofPrincipal Investments Adjust/Unit Total Estimated Estimated Unrealized Estimated CurrentDate Cost Cost Market Market Gain Annual Yield

Quantity Security Description Sym bol Sector Acquired Basis Basis Pric e Value (Loss) I ncome %

Equitie s

50 , 0 0 0 ADVNCD MI CRO D INC AMID 09 /17/02 6 .9 6 348 ,070 15 . 00 750,000 401,929

3,500 ANN NAIL INS CO CQM ANAT 10/02/02 71.75 251,125 9 d . 41 330, d35 79,310 10,360 3 .138 ,500 AMN NATL INS CO CAM 10 / 03 /02 7 1 . 00 603 , 5 00 9d .d1 802, d85 198 , 985 25,160 3 . 131 , 4 00 ANN NATL INS CO COM 10 /0d /03 6 9 .01 96 ,620 94 . d1 132,174 35 ,553 4 ,144 3 . 1313,400 Security Sub -To tal 951,245 1,265,094 313 , 848 3 9 ,664 3 . 13

18 , 000 COLA FINANCIAL CORP DEL COLA 09/24/02 25 .30 d 5 5 , 463 27 .50 495 ,000 39 , 53 720,000 CNA FZNAldCIAI, CORP D EL 09/25/02 25.33 506, 7 5 6 27 .50 550, 000 43,2446 , 000 COLA FINANCIAL CORP DEL 0 9/ 26/0 2 25 . 25 15 1,500 27 .50 1 65,0 00 13,500

d4, 000 Security Sub-Total 1,113,7 1 9 1 , 210,000 96, 2 8 1

60,400 DILLARD 9 INC CL A DDS 10/04/02 17 . 42 1,052,204 1 7 . 60 1,063,0 4 0 1 0, 835 9,664 9 0

5, 210 GENERAL MOTORS CORP GM 07/02/02 59 .60 310,568 d 8 .12 250,705 (59,862) 10, 42 0 4 .1 5

ORVILLE & RUTH MER ILLAT FO UNDA

Pa e Statement Period Accou nt No .23 Of 131 01/31/04 TO 02/27104 65&74B8 001013 1019

TRUST MANAGEMENT ACCOUN T

Statement of Principal Investments Adjust/Unit Total Estimated Estimated Unrealized Estimate d CurrentDate Cost Cost Market M arket Gain or Annual Yiel d

Quantity Security Description Sym bol Sector Acquired Basis Basis Price Value ( Loss) I ncome %

Equitie s

2,668 GENERAL MOTORS CORP 07/02/02 66 53 177, 506 48.13 1 2 8,3 84 (49 ,122) 5 , 3 3 620,600 GENERAL MOTORS CORP 1 0/0 9/02 37 .50 772,500 48.12 9 9 1, 272 218,772 41 , 2 0 02 8 , 478 S ecur ity Sub -Total 1,360, 574 1 ,370,36 1 109,788 5 6 ,956

77,000 KIM ROY AL DTCH NY SHARES KLM 10/09/03 15 .78 1,215,760 2 3 . 42 1,803,340 58 7 ,579 6 , 6 9 9

3,700 LOEWS CORP L TR 12/18/02 4 2 . 1 0 155,770 60 . 2 9 223,073 67 , 30 3 2 , 2 2 05, 400 LOEWS CORP 13/19/02 42 . 1 0 12 7,3 4 0 6 0 . 29 3 25,566 98,226 3,2 4 0900 LOEWS CORP 12/26/02 43 .13 38, 817 60.29 5 4 ,26 1 15,444 5 4 0

10,000 Security Sub-Total 421,927 602,900 180,973 6,000

70,000 NORTHEAST UTILITIES CAM NU 10/02/02 16 . 67 1,167,299 1 9 .2 4 1,346,800 179,50 1 41,999

43,000 OVRSEAS SHIPHLD GRP OSG 03/21/03 1 6 .76 720, 938 3 5 . 90 1,543,700 e22,762 30, 1 00

145 , 000 RELIANT RESOUR CES INC RRI 06 / 20 /03 6 .43 93 2, 828 7 .60 1 , 102,000 169 , 17 1

6,500 TOYS R US TOY 02/03/03 9.01 5 8,590 1 5 .70 102,050 43, 4 5 97 6,700 TOYS R US 02/04/03 8 . 80 675,535 1 5.70 1,204,190 5 28 , 6 5 483,200 Security Sub-Total 734,1 75 1,306,240 572,1 1 3

6 4,000 UNITED STS STL CORP NEW X 09/17/02 12 78 818,035 36 .75 2,35 2,000 1,533,96 4 1 2 ,799

1 10, 000 VIS TEON CORP DELAWARE VC 09/20/02 1 0 . 3 6 1 ,139, 622 10 . 1 0 1 , 111,000 ( 28 ,622) 26,3995 0 , 000 VI STEON CORP DELAWARE 1 1/ 11/02 6 . 94 347,430 10 . 10 50 5 ,000 1 57, 5 7 0 1 1 , 9 9 9160,000 Security Sub-Total 1, 487,052 1,616,000 128,948 38,399

Total Equities 12,223,779 17 ,331 , 975 S,107,692 74 2,183

Total of Long Portfolio 13 ,712 ,566 18 , 820,2 62 5,107,692 950 , 6 2 1

4 . 154 . 154 . 1 5

. 37

. 99

.99

.9 9

.9 9

3 . 11

1 .9 4

.5 4

2 .372 .3 72 .37

1 . 4 0

1 . 3 3

+ ORVILLE & RUTH M E RILLAT FOUND A

Pag e Statement Period Account No24 ON131 01/ 31 / 04 TO 02127 104 656-74E08 001013 1019


Statement of Principal Investments Adjust/ Unit Total Estimated Estimated U nrealized Estimated CurrentDate cost cost M arket Market Gain or Annual Yield

Quantity Security Description Symbol Sector Acquired Basis B asis Price Value ( Lo ss) I ncome %

Equitie s

6,5003,1009 , 60 0

10,900

ALLTEL CORP DEL AT

ALLTEL CORP DE LSecurity Sub-Total

APPLE COMPUTER INC AAP L

ORVILL E & RUTH M ERILLAT FOUNDA

Pag~ Statement Period Account N o28 of 131 01131104 TO 02J2710 4 656.7409 001013 low

09/06/02 43 .06 279,91910/04/02 42 .83 132,789

412,708

09/ 06 /02 14 33 156 , 251

51 . 8051 .8 0

23 .92

336,700 56,780 9,619 2 . 85160,580 27,790 4,5e7 2 .85497,280 8 4,570 14 ,207 1 .85

260,728 104, 4 76


Statement of Principal Investments Adjust/UnitDate Cost

Quantity Security D escription Symbol Sector A cquired Basis

Equitie s

3, 4 00 APPLE COMPUTER INC 10/1 8/02 1 4 3 014,300 Security Sub-Tota l

8,700 B O YD GAMING CORP COM BYD 07/31/03 15 .95

2,500 BLACK BOX CO RP DEL CAM BBOX 10/0 3/02 32 . 12

4,000 BANKNORTH GROUP MAINE BNK 09/12/02 2 4 611,200 BANKNORTH GROU P MAINE 10/15/02 2 3 .885,200 Security Sub-Tota l

2,200 BEAR STEARN9 COS INC BSC 09/30/02 56 771,100 BEAR STEARNS COS INC 10/07/02 52 .763,300 Security Sub-Tota l

5,200 BELO CORP SER A BLC 10/0 1/02 21 .803,500 BELO CORP SER A 06/26/03 22 .668,700 Security Sub-Tota l

2,75 0 CAPITAL CITY BR GRP INC CCBG 09/06/02 27 .65

2,300 CONNECTICUT BANCSHR3 INC SBMC 10/15/02 37 07

2,700 CliITTENDEN CORP CFIZ 10/0 3/02 2 8 .9 6

2,315 COMMERCE BANCSHARES C BSH 10/15/0 2 36 .29

5,600 COMMERCIAL FEDERAL CORP CFB 10/01/02 21 . 6 9

25, 100 COMPUTER ASSOC INTL INC CA 09/06/02 11 .13

14,500 COMPUTER ASSOC INTL INC 10/ 03 / 02 9 8 639,600 Security Sub-Total

2, 266 COUNTRYWIDE FINANCIAL CFC 10/03/02 3 6 .1 1

CORP1 , 200 COUNTRYWIDE FINANCIAL 12/ 12 / 02 37 . 8 0

CORP1, 300 COUNTRYWIDE FINANCIAL 0 1/2 8 /04 8 4 6 1

CORP4,766 Security Sub-Tota l

4,400 EASTMAN KODAK EK 1 2/29/03 25 31

5,100 ELECTRO SCI ENTFC IND INC ESIO 10/16/02 15 .4 2

+ ORVILLE & R U TH MERI LLAT FOU NDA

Pa e Statement Period Account No29 0131 01/31/04 TO 071771 04 656-74ED9

Total Estimated Estimated Unre aliz e d Estimated CurrentCost Market Market Gain or Annual Yield

Basis Price Value (Loss) Income %

48,620 23 .92204 , 87 1

138,765 20 .38

80,305 5 1 . 56

9 8 , 44 0 33 .3328,666 33 .33

127, 1 0 6

12 4 ,9 12 87 .8458,044 87 .8 4

1 82, 9 5 7

1 1 3,3 60 2 7 . 9 079, 3 1 0 27 .9 0

19 2 , 67 0

76,04 6 43 .00

85,263 51 .90

78,192 32 .98

84,028 49 .4 1

121,500 28 .04

27 9 , 4 68 2 6 .5 6143,043 2 6 .56422,51 2

81,8 47 91 .63

4 5,360 91 .63

10 9 , 9 94 9 1 .63

237,20 2

1 11, 400 28 .54

78,685 23 .90

81 ,32 8342,056

177,306

128,900

133,32 039,996

173,316

193,2 4 896,624

289,872

145,08 097,650

2 42,730

1 1 8, 2 50

119,37 0

89,0 4 6

114,384

157,024

666,65 6385,12 0

1,051,776

2 07, 633

109,956

1 1 9 , 11 9

436,708

125,576

121,890

32,708137,18 4

38,541

48, 595

3 4 ,87911,32946,208

68,33538,57 9

106,914

31,72018,34050,060

42,203

3 6 ,106

10,85 4

30,356

35,52 3

387,187242,076629,263

125,78 5

6 4,596

9,1 2 4

199,50 5

1 4 ,175

43,204

2,609

50 0

3,1 1 9935

4 ,055

1,75 9879

2,639

1,9751,329

3,305

1,979

1,839

2,159

2 ,129

2,800

2,0071 ,1593, 167

1 , 9 9 6

1,056

1, 144

4 ,19 4

2,199

1 .47

. 3 8

2 .342 .342 .3 4

. 91

.9 1

. 9 1

1 .361 . 36

1 .3 6

1 .67

1 .54

2 .42

1 . 86

1 . 7 8

.3 0

. 3030

. 96

.96

.96

9 6

1 . 7 5

001013 1019


Sta tement ofPrincipal Investments adjustlunic Total Estimated Estimated Unrealized Estimated CurrentD ate Cost Co st Ma rket Market Gain or Annual Yie ld

Quantity Security Description Symbol Sector Acquired Basis Basis Price Value ( Loss) Income %

Equities

6,000 FIRST SENTINEL BANCORP FSLA 11/18/02 1 4 66 88 ,003 21 . 62 1 29,720 41 ,7 16 2,519 1 .94

4 ,700 OPPENHEIMER HLDG INC A OP Y 10/07/02 21 00 98,700 3 2 . 95 15 4 ,865 56, 165 1,692 1 .09

2,50 0 FOREST CITY ENTRPRS C L A FCEA 09/09/02 3 4 50 86,250 53 .25 133,125 4 6, 875 900 . 6 7400 FORES T C ITY ENTRPRS CL A 09/ 1 6/02 3 4 .98 13,99 4 5 3 . 25 21,300 7,305 1 44 .67

2, 2 0 0 FOREST CITY ENTRPRS CL A 10/18/ 02 3 1 . 82 70,025 5 3 . 2 5 117,150 6 7, 12d 792 .6 75,100 Security Sub-Total 170,270 271,575 101,304 1, 836 .67

1, 100 GANNETT CO GCI 10/29/02 77 .06 84,772 86 . 27 9 4,897 10,124 1 , 100 1 .1 5800 GANNETT CO 12/12/02 70 .70 56,560 86 . 27 69,016 12, 456 800 1 .15900 GANNETT CO 09/09/03 78 .25 70,425 86 . 2 7 77,6 d 3 7,218 900 1 .15

2 ,800 Security Sub-Tot al 21 1 ,7 5 7 241,556 29,798 2,800 1 .1 5

407 78A EtRA} i ' 3 ENTERTAINMT INC HET 07/02/ 0 2 4 3 .10 17,542 5 1.95 21,143 3,600 d 88 2 .3 02 ,800 HARRAH '9 ENTERTAINMT INC 12/06/02 39 .59 110, 852 51 .95 145,460 3 4 ,60 8 3,359 2 .303, 207 Securi ty Sub- Tot a l 128,39 4 166,603 38 , 208 3,8 4 8 2 .30

2, 80 0 INDE PENDENCE COMM BANK I CBC 09/ 12/0 2 28 .3 4 79,371 39 .59 1 1 0, 852 3 1 , 480 2, 6 6 d 2 .221,100 INDE PENDENCE COMM BANK 09/18/0 2 25 20 27,720 39 .59 4 3,5 d9 15, 829 968 2.221,100 INDEPENDENCE COMM BANK 10/31/02 25 75 28,325 3 9 .59 43,549 15,2 24 968 2 .225,000 Security Sub-To t al 135, 416 197,950 62,533 4 , 400 2 . 2 2

1 1, 80 0 INTL GAME TECHNOLOGY IGT 09/1 8 /0 2 1 6 .27 1 9 2 , 091 39 .24 463,032 270,9 4 0 4 ,720 1 . 0 1

1 , 400 KNIGHT RIDDER INC KRI 0 9/0 6 / 02 6 1 .31 8 5, 8 3 4 7 4 . 76 10 4 ,664 18 , 830 1 ,791 1 .7 11,500 KNIGHT RIDDER INC 10/01/01 56 .03 8 4 , 051 74 .76 112,140 28,088 1 1919 1 .7 1600 KNIGHT RIDDER INC 11/13/02 60 00 36,000 74 .76 44,856 8,856 767 1 .71

3,500 Security Sub-Tot al 205, 8 85 261,660 55,774 d , 4 79 1 .71

9,700 LAM RESEAR CH CORP CAM LRCX 10/16/02 8 .69 8 d,325 2 5 .57 248,029 163,703

3,800 LEE ENTERPRISES INC LEE 13/06/0 2 33 .99 12 9 ,18 1 4 5 .09 1 7 1 , 34 2 42,160 2 ,735 1 .5 9

2 , 4 00 MGM M IRAGE INC 1 CT CAM MGG 10/15/0 2 35 .30 8 d ,7 2 3 d3 .55 10 d ,5 2 0 19,79 6 9 6 0 . 911 ,200 MGM M IRAGE INC 1 CT CAM 10/23/0 2 32 .0 9 3 8,513 4 3 .55 52,260 13,7 4 6 48 0 .9 11,200 MGM MIRAGE INC 1 CT CAM 30/29/02 30 . d9 36, 59 6 4 3 .55 52,260 1 5,6 6 3 48 0 .914, 800 Secu rity Sub-Total 159, 834 209,040 4 9 , 2 05 1 ,920 . 9 1

900 MARCUS CORP MCS 10/21/02 13 .43 12,092 17 . d9 15,7 41 3,6 4 8 198 1 .251, 2 00 MARCUS CORP 10/22/0 2 13 .42 16, 1 10 1 7 . 49 20, 988 4,877 2 64 1 .254 ,200 MARCUS CORP 10/28/02 1 4 59 61, 306 1 7 . d9 73, d 5 8 1 2,151 92 4 1 .256,300 Security Sub-Total 89,509 110,187 20,676 1,386 1 . 2 5


Paye Statement Penod Account N o30oT 131 01 / 31 /04 TO 07/27104 656r741509 001013 1019


Sta tement ofPrincipal Investmen ts Adjust/Unit Total Estimated Estimated Unrealized Estimate d CurrentDate Cost Cost Market Market Gain or Annua l Yield

Quantity Security Description Symbol Sector Acquired Basis Basis Price Value (Loss) Income %

Equities

2 , 300 MCCLATCHY COMPANY CL A MNI 12/12/02 56 .49 12 9, 9 46 68 .58 157 ,734 27 ,787 1 , 103 . 69

2 , 200 MERCANTLE BNKSHRSPV2 MRBK 09/12/02 38 .44 84 , 573 44 .98 98 ,956 1 4, 3 81 2 ,903 2 . 93

12,900 MINE SAFETY APPL CO NPV MSA 11/14/02 9 .43 121 , 690 23 .42 302,118 180,428 3 ,612 1 . 1 9

2 , 700 N Y TIMES CO A NYT 10 /01/02 45 .53 122 , 955 45 .64 123 ,228 272 1 ,565 1 . 27000 N Y TIMES CO A 11 / 14 /02 48 .35 38 , 680 45 64 36,512 (2 , 168) 463 1 .27

3,500 Security Sub -Total 161 ,635 159 , 740 (1,896) 2,029 1 .27

8,400 NEWPORT CORP NEWP 10 / 18 /02 11 .95 100 , 448 17 .53 147,252 46,80 32,100 NEWPORT CORP 10 / 21 /02 11 .94 25 , 085 17 53 36 , 813 11,72710,500 Security Sub-Total 125 ,534 184 , 065 58,530

2,500 OCEANFIRST FINCL CRP DEL OCFC 10/21 /02 21 .97 5 4, 9 45 25 .25 63 ,125 8 ,179 1 ,999 3 . 161,600 OCEANFIRST FINCL CRP DEL 10/22/02 21 .99 35 , 190 25 .25 40,400 5,209 1 ,279 3 . 164 , 100 S ecurity Sub -To tal 90, 135 103,52 5 1 3,3 88 3, 279 3 .16

9,300 PEOPLESOFT INC PSFT 08 / 22 /03 16 . 77 155 , 976 21 . 58 200 , 694 44,71 7

2 , 600 PROGRESS SOFTWARE CORP PRG9 10 / 28 /02 12 50 32 , 500 20 .81 54 ,106 21 , 6064,000 PROGRESS SOFTWARE CORP 10 / 30 /02 12 .50 50 , 000 20 .81 83 , 240 33,2406 , 600 Securit y Sub- Total 82 ,500 137,3 46 54,84 6

3,200 RAYMOND JAMES FINL INC RJF 10/16/02 26 .91 86 , 118 38 . 32 122 ,304 36 , 185 1,344 1 . 09

5,500 RADIOSHACIC CORP RSH 09/06/02 21 . 75 119 , 625 34 . 56 190 , 080 70,455 1 , 3 7 5 . 7 2

2,500 10U99 BERRIE & CO INC RUS 10/ 16 /02 29 .03 72 , 593 36 .00 90 ,000 17 ,407 2 ,999 3 . 3 3400 RUSS BERRIE & COINC 10 / 18 /02 30 71 12 , 286 36 . 00 14,400 2, 113 480 3 .33

2 , 900 Security Sub -Total 84 , 879 104,400 19,520 3 ,479 3 .33

3 , 000 RYANS FAMILY STEAK HOUSE RYAN 09 / 06 /02 12 .75 38 , 250 17 .40 52 ,200 13 , 95 05 , 000 RYANS FAMILY STEAK HOUSE 09/10/02 12 .26 61 , 333 17 .40 87 , 000 25,6668 , 000 Security Sub -Total 99 ,583 139 , 200 39,616

3 , 900 SCIENTIFIC ATLANTA SFA 09/06 /02 14 .21 55 , 431 33 . 10 129 ,090 73,658 155 . 1 28 , 300 SCIENTIFIC ATLANTA 10/18 /02 10 .90 90 , 499 33 . 10 274 , 730 18 4,230 331 . 12

12 , 200 Security Sub -Total 145 ,931 403 , 820 257 , 888 487 . 12

5 , 900 TIERONE CORP TONE 10/17 / 0 2 13 . 80 8 1 ,4 20 22 . 49 132 , 691 51,27 1

2 , 000 T 0PP9 INC CAM TOPP 10 /15 / 02 8 05 16 , 100 9 .19 18 ,380 2,280 320 1 . 7 4

+ ORVILLE & RUTH MER I LLAT FO UNDA

Pey e Statem ent Period Account No31 of l31 01/ 31 / 04 TO 0 1J 27/04 65674E09 001013 1019


Statement o fPrincipal Investments AdJust/Unk Total Estimated Estimated Unrealized Estimated CurrentDate cost cost Market Market Gain or Annual Yield


Equities

8,100 TOPPS INC COM 10/16/02 8.01 6 d ,955 9 .19 74,439 9, d83 1,295 1 .7 d10,100 Security Sub-Total 81,055 9 7,819 11,763 1,615 1.7 4

2,600 UNIVERSAL HEALTH SVCS B UH9 11/08/02 45 .86 119,258 53 .93 1 d 0, 118 20,959 832 .5 91,300 UNIVERSAL HEALTH SVCS B 12/12/02 4 6 .7 6 50,169 53 .93 70,109 11,939 41 6 .5 9800 IINIVEAeAI. H E ALTH SVCS B 02/12/03 d 3 .15 3 d ,520 53 .93 43,144 8,6 7d 256 .5 9

1,600 UNIVERSAL HEALTH SVGS B 02/14/03 33 .96 5 d ,3 42 53 .93 86,28 8 31,945 512 .5 9300 UNIVERSAL HEALTH SVCS B 02/18/03 36 .05 10,815 53.93 16,179 5,364 96 .5 9

6,600 Security Sub-Total 277,105 355,938 78,831 2,112 .59

3,700 WEBSTER FINL CP PV $0 .01 WBS 09/2 4/02 32.71 121,032 50 .35 186,295 65,262 3,107 1 .6 6

3,300 WHITNEY HOLDING CORP WTNY 12/09/02 32 .96 108,773 4 2 .87 1 d 1, 471 32,697 4,356 3 .07

1,700 WILEY JOHN & SONS CS, A JWA 09/30/02 21 .86 37,171 26 .29 4d ,693 7,521 dd 2 .984,600 WILEY JOHN & SONS CL A 10/01/02 21.80 100,280 26 .29 120,936 20,65 4 1,196 .9 86,300 Security Sub-Total 137, d51 165,627 28,175 1,63 8 .9 8

2,300 WEST PHARMACTL SVCS INC W8T 10/15/02 17 .91 d 1,195 36 .88 8 d ,82 4 43,628 1,931 2 .272,300 WEST PHARM ACTL SVGS INC 10/16/02 18 .00 d 1, d00 36 .88 8 d ,824 d 3,614 1,931 2 .274,600 Security Sub-Total 82,595 169,6 48 87,052 3,862 2 .2 7

Total Equities 6 ,70 5 , 150 10, 3 5 9 ,5 15 3 , 6 5 4 ,340 116,439 1 .12

Total of Long Portfolio 7,406,747 11,061,112 7,654,340 120,368 1 . 0 9

Pa e Statement Period Account No32 0131 011 31 / 04 TO 021 27/04 656748D9 001013 1019


Statement of Principal Investments Ad)ust(unttDate Cost

Quantity Security Description Symbol Sector Acquired Basis

Equities

150 ADVISORY BOARD CO ABCA 05/02/03 37 .38200 ADVISORY BOARD CO 06/23/03 39 .07100 ADVISORY BOARD CO 30/14/03 35 .04250 ADVISORY BOARD CO 12/09/03 36 .6 175 ADVISORY BOARD CO 12/18/03 32 .71

275 ADVISORY BOARD co 12 / 2 a/ 03 33 .49300 ADVISORY BOARD CO 01/26/04 35 .40

1,350 Security Sub-Tota l

175 AFFILIATED CAMP SVCS A ACS 02/13/04 51 .40

350 ANOIOTECA PHARMACEUTICL9 ANPI 09/25/03 22 .54

1,175 1JT9TARCOM INC DEL COM OTBI 09/11/02 14 .4 0150 UTBTAACAM INC DEL CAM 10/09/02 15 .92200 UTSTARCOM INC DEL CAM 10/18/02 16 .53

300 UTSTARCOM INC DEL CAM 10/30/02 16 .60275 UTSTARCOM INC DEL CAM 11/25/02 19 .1 4

915 UTSTARCOM INC DEL CAM 10/24/03 31 .81

600 UTSTARCOM INC DEL CAM 10/27/03 39 .47375 UTSTARCOM INC DEL CAM 01/26/04 35 .7 2

25 UTSTARCOM INC DEL CAM 01/27/04 35 .53375 UTSTARCOM INC DEL CAM 01/17/04 33 .94

4,400 Security Sub-Total

2,112 ACCR2D0 HEALTH INC ACDO 09/11/02 34 .68112 ACCREDO HEALTH INC 09/13/02 33 .42

300 ACCREDO HEALTH INC 09/19/02 31 .08412 ACCREDO HEALTH INC 09/30/07 29 .41162 ACCREDO HEALTH INC 30/04/02 28 .82

187 ACCREDO HEALTH INC 10/08/02 27 .73

637 ACCREDO HEALTH INC 10/29/02 29 .9 7


71'31Statement Period Account No

39 011 31 1 04 TO 02/27/04 656- 74E10

Total Estimated Estimated Unrealized Estimated CurrentCost Market M arket Gain or Annual YieldBasis Price Value (Loss) Income %

5,6077,8153,5049 , 1532,4539,21 2

10 , 61148 , 367

8 ,99 5

7 , 89 1

16,2012,3883,3044 , 9805 , 76 3

31,02319 ,48613 , 39 5

88812,728

1 0 9 , 65 9

7 3 , 7 513,7439,32 4

1 2, 1187,5525 .18 719,0 9 5

36 .0536 .0536 .0536 .0536 .053 6 . 0536.05

48 .26

25 .53

33 . 1333 . 133 3 . 133 3 .1 33 3 . 1333 .1333 . 1333 .133 3 . 1333 .13

35 7035 .7035 .7035 703 5 .7035 7035 70

5,4077,2103 , 60 59, 0 122,7 0 39 , 9 1 3

10 , 81 548,667

8,445

8 ,93 5

3 7 , 2 7 14,9696,6269,9399 ,1 1 0

32,30119 , 87812,42 3

82812,423

1d5, 77 2

7 5,39 83,998

10,71014,70 89,3536,675

22,740

(199)(605 )

100(1 4 0)25070119229 9

(5 4 9)

1,044

21,06 91,5 9 13,322419593,84 71,27 8

391(971)(60 )

(304 )36,112

2,10 6254

1,3862,5901,80 01,4883,64 5

001013 IM


Statement of Principal Investments AdJust/Unlt Total Estimated Estimated Unrealized Estimated CurrentDate cost cost M arket Market Gain or Annual Yield


Equities

49 0 ACCREDO HEALTH INC

525 ACCREDO HEALTH INC5 0 ACCR EDO HEALTH INC

4 00 ACCREDO HEALTH INC3 50 ACCRED O HEALTH INC

1 75 ACCREDO HEALTH INC

1,1 2 5 ACCREDO HEAL TH INC

50 ACCREDO HEALTH INC

4 50 ACCREDO HEALTH INC425 ACC R EDO HEALTH INC

300 ACCREDO HEALTH INC700 ACCREDO HEALTH INC

9,062 Security 8ub-Total

100 AMSURG CORP TENN CAM AM9 G

25 AMSURG CORP T ENN CAM

175 AMSURG CORP TENN CAM

4 25 AMSURG CORP TENN CAM

12 5 AMSURG CORP TENN CON


50 AMSURG CORP TENN CAM50 AMSURG CORP TENN CAM


1 7 5 AMSURG CORP T ENN CAM

250 AMSURG CORP T ENN CAM

275 AMSURG CORP T ENN CAM2 ,100 Security Sub-Total

250 AMD1 HEALTHCARE SVCS INC AH9

27 5 ANN HEALTHCARE SVCS INC

625 ANN HEALTHCARE SVCS INC

2 25 ANN HEALTHCARE SVCS INC775 XMN HEALTHCARE SVCS INC

65 0 ANN HEALTHCARE SVCS INC

325 AMN HEALTHCARE SVCS INC3,125 Security Sub-Total

11/25/0202 /03 / 0302 / 07 /0302 / 11/03

02/18/0303/05 /03

04/28/0305 /22 / 03

06 / 19/03

08 /07/03

08 / 18 / 0310/23/0 3

09/11/0 2

io/ai/oa1 1/ 07/0211/08/0211 /1 2/0211/12/0211/19/0 204 /24 /0306/19/0307/23/0308/07/0 301/ 20/04

09/19/0209/ 25/O a10/08/02

10/29/0210/30/0208/07/0311 /0 5 /03

3 3 .992 8 . 4426 .7 227 .1325 .4123 .7914 .5 51 9 . 912 1 . 2823 .002 3 .5928 .9 0

3 0 . 6 330 . 2 127 .4927 .7826 .712 6 .6 124 .2724 .6328 . 4 628 .3928 .813 6 . 6 2

21 .181 8 .5515 . 4016 .0516 .3316 . 0914 .5 0

1,150 AMERICAN HEALR7iF7AY9 INC AMfiC 1 2/1 9/02 8 . 5 0300 AMERICAN HEALTHWAYS INC 12/26/02 8 35

50 AMERICAN HEAL THWAYS INC 0 1 /22/03 9 .8 6

800 AMERICAN HEALTFiWAYS INC 03/12/03 7 .97

450 AME R ICAN HEALTHWAYS INC 0 4/01/03 9 .6 4

350 AMERICAN HEAI. THWAYS INC 07/21/03 15 .76

550 AMERICAN HEALTHWAYS INC 11/05/03 1 9 .7 0


Pay e Statement Penod Account No

40 of 131 01/31/04 TO 02127104 65674E10

16, 65514,93 2

1 ,33610,854

8 ,89 44,16 3

16,37299 5

9,5769,7757,07 7

20, 2 3 125 1,139

3,06 3755

4 , 81 01 1 ,80 73,3388,6 4 91,2131,2 313,5574,9697 ,20 3

10,07 160, 673

5,2955,1019,6253,61 1

12,662

9,1614,71 2

5 0 ,169

9,7752 ,50 5

4936,3774,3425,51 7

10,83 5

0010 13 1019

35 .7035 .7035 .7035 .7035 .7035 .7035 .7035 .7035 .7035 .7035 .7035 .7 0

3 4 .603 4 6034 .603 4 .6034 .6034 .6034 .6034 .603 4 .603 4 .6034 .6034 .6 0

18 .2218 .2218 .2218 .2218 .2218 .2218 .2 2

28 .0928 .09

28 0928 .09

28 .0928 .0928 .09

17 , d9 31 8 ,7 4 21,7 8 5

14,2801 2 , 4 9 56,247

40,1621 ,78 5

16,06515,17210,71024,99 0

323,5 1 3

3, 4608 6 5

6 , 05514 , 7054 ,3 2 5

11,2451,7301 , 7304 ,3256 , 0558 , 6509 , 51 5

72 , 660

4 , 5555 , 01 0

11 , 3874 , 099

14,12011,84 35,921

56 , 937

3 2, 30 38 , 427

1,40422,47212 , 64 0

9 , 83115,449

8373, 8 09

4483,4253,6002,08 323,789

7896,4885,3973, 6 334,75 8

72 , 36 5

396109

1,2442,897

9862,595

51649876 7

1,0851,446(556 )

11,983

(740)(90)

1,762488

1,457

2,6811,2096,76 7

22,527

5,92291 1

16,0948,2984,3144,614

MUST MANAGEMENT ACCOUNT

Sta tement ofPrincipal Inves tments AdJusg Unit Total Estimated Estimated Unrealized Estimated CurrentData Cost Cost Market Market Gain or Annual Yield

Quantity Security Description Symbol Sector Acquired B asis Basis Price Value ( Loss) Income %

Equities

3, 650 Security sub - Total 39,846 102,52 8 62,680

425 ATRIX LABORATORIES INC ATRX 09/11/02 1 6.03 6, 8 1 4 27 .08 11,509 6 ,6 9 4

350 BIOSITE INC DEL CAM BSTE 03/03/03 31 .5 3 11,03 8 30 .50 1 0, 675 (363)325 BIOSITS INC D EL CAM 03/05/ 03 3 1 . 89 10,36 4 30 .50 9 ,91 2 ( 4 51)

675 Securi tySub-Total 21, 402 20,587 (8 16 )

425 B IACARE INTL AS ADR BCOR 10/03/02 15 .0 2 6,383 2 4 .66 10,480 4,096 134 1 .28

150 BIACORE INTL AB A DR 11/ 19/02 21.58 3,237 2 4.66 3,699 461 4 7 1 .28

100 BIACORE INTL AS ADR 12/10/02 22.25 2,225 74.66 2, 466 2 41 31 1.28

500 BIACORE INTL AB ADR 12/16/02 2 2 .48 1 1 , 24 0 24 .66 12,330 1,08 9 158 1 .3 8

100 BIACORE INTL AB ADR 06/26/03 2 1 . 6 0 2,160 24 .66 2, 466 305 31 1.28

100 BIACORE INTL AB ADR 08/08/03 21 . 49 2,14 9 24.66 2, 466 317 31 1.2e

50 BIACORE I NTL AB ADR 08/11/03 21 .24 1,062 24.66 1,233 171 15 1.2825 BIACORE INTL AB A DR 0 8/20/03 2 4 .00 600 24 66 616 16 7 1.2850 BIACORE INT L AS ADR 0 8/27/03 2 4.00 1,200 2 4.66 1, 233 33 15 1.2 8150 BIACORE INTL AB ADR 08/28/03 23 .63 3,545 2 4.66 3,699 153 47 1 .28

1,650 Secu r itySub-Total 33, 803 40, 6 89 6 ,882 521 1 .28

700 COMMERCIAL CAP BANCORP CCBI 09/16/03 1 2 .05 8 , 438 20 .60 14, 430 5, 98 1

3 66 COMMERCIAL CAP BANCORP 12/1 2/03 16 .60 6,076 20 .60 7 , 539 1, 4621 , 066 Secu ri tySub-Total 1 4,515 21, 959 7, 44 3

75 COGNIZANT TE CH SO LUTNS A CTSH 0 4 / 22/0 3 19 .08 1,431 47 .27 3 ,545 2 ,1 1 4

400 COGNIZANT TE CH 90LL7TN9 A 0 5/02 / 0 3 17 .97 7, 188 4 7 . 27 1 8 ,908 11 ,7 2 0

675 COGNIZANT TECH SOLUTNSA 05/ 15/03 19 .73 13,323 4 7 .27 31, 9 07 18 ,5 8 3

2 25 COGNIZANT TE CH 90LDTNS A 06/ 23/0 3 22 .92 5,1 58 47 .27 1 0, 635 5, 4 7 7

1,375 Security Sub-Total 27,100 6 4 ,996 37,89 4

450 CONNETICS CO RP CNCT 0 6/2 4/03 14 .90 6,705 22.03 9, 913 3, 208

550 CONCORD CAMIIMIIiCATN3 INC CLAD 02/10/0 4 1 8 .9 8 10,441 18 .50 10, 175 ( 2 66)

550 CAREER EDUCATION CECO 11/29/02 19.30 10, 6 18 4 9 .83 27, 406 16,788

50 CAREE R EDUCATION 12/02/02 18 .96 948 49.83 2,491 1,5 4 3100 CAREE R EDUCATION 11 / 16/02 1 9 .5 0 1, 9 50 4 9 .83 4 ,9 83 3, 033

200 CAREE R EDUCATION 12/30/02 20 .30 4 , 0 60 4 9 . 83 9, 9 6 6 5, 905425 CAREER EDUCATION 10/23/03 49 .88 21, 20 0 4 9 . 83 2 1,177 (22)

100 CAREER EDUCATION 11/17 / 0 3 4 8 .09 4,809 49 .83 4,983 17 325 C AREE R EDUCATION 11/ 17/03 4 6 .30 1 , 157 4 9 .83 1,245 88

150 CAREE R EDUCATION 12/0 4/03 39 . 25 5,8 8 7 4 9 . 83 7, 4 74 1 ,587

275 CAREER EDUCATION 12/04/03 3 4 .0 8 9,373 4 9 . 83 13,703 4 ,330875 CAREER EDUCATION 12/04/03 42 33 37,0 4 6 4 9 .83 43,601 6,55 4


Peg e Statement Period Account N o41 Ot 131 01131 104 TO 07 1 27104 656 .7400 00+03 +9+e

'IRusT MaxacEmErrr AccovxT

Statement of Principal Investments AdJusHUnlt Total Es ti mated Estimated Unrealized Estimated CurrentDate Cost Cost Market Market Gain or Annual Yield


Equities

475 CAREER EDUCATION 12/04/03 32 .17 15 ,2e2 49 .83 23,669 8,386525 CAREER EDUCATION 12/2 4/03 38 .2 4 20,078 49 .83 26,160 6,082

3,750 Security Sub-Total 132,414 186,862 54,44 7

800 CABOT MICROELECTR3 CORP C(7P 09/11/02 46 .04 36,836 6 4 .55 35,640 (1,196)25 CBOT MICROELECTRS CORP 12/26/02 48 .49 1,212 44 .55 1,113 (98)300 CABOT MICAOELECTR9 CORP 12/27/02 46 .97 14,091 4 4 .55 13,365 (726 )50 CABOT MICROELECTRS CORP 01/22/03 48 .00 2, 4 00 4 4 .55 2,227 (172)175 CABOT MICROELECTRS CORP 02/20/03 42 .29 7,400 44 .55 7,796 395175 CABOT MICROELECTRS CORP 03/05/03 40 .07 7,013 44 .55 7,796 782

175 CABOT MICROELECTRS CORP 03/06/03 39 .92 6,986 44 .55 7,796 810225 CABOT MICROELECTRS CORP 04 /01/03 4 1 .65 9,597 4 4 .55 10,023 4 2 6

75 CABOT MICROELECTR9 CORP 05/01/03 43 .12 3,234 44.55 3,341 107275 CABOT MICROELECTRS CORP 05/23/03 43 .06 11,561 44 .55 12,251 69025 CABOT MICROELECTR9 CORP 07/02/03 53 .09 1,327 44.55 1,113 (213)25 CABOT MICROELECTR9 CORP 10/23/03 52 .82 1,320 4 6 .55 1,113 (206)225 CABOT MICROELECTRS CORP 12/30/03 49 .31 11,095 4 4 .55 10,023 (1,071)200 CABOT MICROELECTRS CORP 01/02/04 50 .86 10,172 4 4 .55 8,910 (1,262)

2,750 Security Sub-Total 124,248 122,512 (1,734 )

150 CORINTHIAN COLLEGES INC COCO 0 1/38/ 04 61 .10 9,166 60 .14 9,021 (145)

150 CORPORATE EXEC BOARD CO EXBD 05/02/03 40 .10 6,015 49 . 84 7,476 1,461 45 .60200 CORPORATE EXEC BOARD CO 06/23/03 40.67 8,135 49 .84 9,968 1,832 60 .6050 CORPORATE EXEC BOARD CO 01/26/04 48 •30 2,415 49 .84 3, 493 77 15 .60400 Security Sub-Total 16,565 19,936 3,370 120 .60

425 COSTAR GROUP INC CAM CSGP 10/30/03 39 .12 16,626 39 .00 16,575 (51)125 COSTAR GROUP INC CAM 12/17/03 38 .50 4,811 39 .00 4,875 62

1 2 5 COSTAR GROUP INC CAM 12/19/03 38 .49 4,811 39.00 4,875 63

25 COSTAR GROUP INC CAM 01/26/04 40 .68 1,017 39 .00 975 (42 )275 COSTAR GROUP INC COM 02/05/04 37 .12 10,210 39 .00 10,725 514175 COSTAR GROUP INC CAM 02/24/04 38 .74 6,780 39 .00 6,825 4 6

1,150 Security Sub-Total 44,258 6 4,850 590

300 CENTENE CORP CNC 04/01/03 19 .65 5,895 30 .26 9,078 3,182375 CENTENE CORP 08/08/03 25 .91 9,716 30.26 11,347 1,631475 CENTENE CORP 09/02/03 28 .47 13,525 30 .26 14,373 84 81,150 Security Sub-Total 29,136 34,799 5,661

150 CEPHALON INC CAM CEPH 08/29/03 44 17 6,625 59 33 8,899 2,27 3

375 COMMERCE BANCORP INC N J CBH 09/12/03 43 .48 16,305 60.67 22,751 6,446 285 1 .25


Pa e Statement Per iod Account N o42 0131 01/31/04 TO 071 27/04 656r74E10 001013 1019


Statement of Principal Investments Adjust/Unit Total Estimated Estimated Unrealized Estimated CurrentDate Cost Cost Market Market Gain or Annual Yiel d


Equities

375 CREE INC CREE 02/05/04 24 .09 9,036 23.95 8,981 (55)

30 0 CYBERONICS INC CYBX 01/26/04 32 .0 9,720 24 .37 7,311 (2,409)375 CYBERONICS INC 02/11/04 27 .43 10,288 24 .37 9,138 (1,150)675 Security Sub-Total 20,009 16,449 (3,559)

125 DOLLAR TREE STORES INC DLTR 02/03/03 21 .96 2,745 30.90 3,862 1,11775 DOLLAR TREE STORES INC 03/11/03 18 .76 1,407 30.90 2,317 910275 DOLLAR TREE STORES INC 04/15/03 22 .86 6,286 30.90 8,497 2,211400 DOLLAR TREE STORES INC 04/17/03 23 .74 9,498 30.90 12,360 2,861475 DOLLAR TREE STORES INC 12/24/03 30.39 14,437 30 .90 14,677 240350 DOLLAR TREE STORES INC 01/02/04 30 .06 10,521 30.90 10,815 2941,700 Security Sub-Total 44,895 52,530 7,633

262 DORM. FINANCIAL CORP DRL 09/16/03 30 .52 7,996 34.12 8,939 942 125 1 .40

175 DORAL FINANCIAL CORP 12/12/03 32 .81 5,741 34 .12 5,971 229 84 1 .40

400 DORM. FINANCIAL CORP 01/26/04 34 .71 13,884 34 .12 13,648 (236) 192 1 .40

837 Security Sub-Total 27,622 28,558 935 401 1 .40

425 EXPRESS SCRIPTS INC CAM ESRX 11/12/02 52 .00 22,300 7 2.99 31,020 8,920

175 EXPRESS SCRIPTS INC CAM 11/25/02 48 .92 8,561 72 .99 12,773 4,212

450 EXPRESS SCRIPTS INC COM 04/21/03 55 .35 24,910 71 .99 32,845 7,93525 EXPRESS SCRIPTS INC CAM 07/23/03 70 .80 1,770 72.99 1,824 54

1,075 Security Sub-Total 57,341 78,464 21,121

875 EPIX MEDICAL INC CAM EPIX 02/19/04 20 .96 18,345 21 .07 18,636 90

1,475 ENCORE CAPITAL GROUP INC ECPG 09/26/03 11 .37 16,770 14 .30 21,092 4,321

375 ENCORE CAPITAL GROUP INC 10/06/03 11 .98 4,493 14.30 5,362 869

125 ENCORE CAPITAL GROUP INC 10/13/03 12 .19 1,524 14.30 1,787 262

200 ENCORE CAPITAL GROUP INC 12/12/03 14 .43 2,886 14 .30 2,860 (26)

225 ENCORE CAPITAL GROUP INC 01/02/04 14 .83 3,338 14 .30 3,217 (121)


385 EPIp SYSTEMS INC CAM EPIQ 09/25/02 16 .90 5,494 17.50 5,687 193

825 EPIQ SYSTEMS INC CAM 10/29/02 17 .20 14,190 17 .50 14,437 947

1,175 EPIQ SYSTEMS INC CAM 11/07/02 17 .00 19,975 17 50 20,562 587350 EPIQ SYSTEMS INC CAM 11/20/02 14 .30 5,005 17.50 6,125 1,12050 EPIQ SYSTEMS INC CAM 12/04/02 14.93 746 17.50 875 128500 EPIQ SYSTEMS INC CAM 05/15/03 19 85 9,925 17 .50 8,750 (1,175)

75 EPIQ SYSTEMS INC CAM 05/22/03 19 .00 1,425 17 .50 1,312 (112)

375 EPIQ SYSTEMS INC COM 06/25/03 16 .87 6,326 17 .50 6,562 236

450 EPIQ SYSTEMS INC CAM 07/10/03 16 .91 7,610 17.50 7,875 264

350 EPIQ SYSTEMS INC CAM 07/11/03 17 .31 6,059 17.50 6,125 65


Pa e Statement Period Account No43 0131 01/31/04 TO 07127/04 656-74E10 001013 1019


Statement of Principal Investments AdJusNUnit Total Estimated Estimated Unrealized Estimated CurrentDate Cost Cost Market Market Gain or Annual Yield


Equities

4,475 Security sub-Total 76,757 78,312 1,553

325 FLIR 9Y3TE 49 INC FLIR 10/15/03 26 79 8,708 38 .d3 12,489 3,781

75 FLEXTRONICS INTL LTD FLEX 11/11/02 8 .28 621 18.01 1,350 729500 FLEXTRONICS INTL LTD 12/11/02 9 .36 4,684 18 01 9,005 4,320575 Security Sub-Total 5,305 10,355 5,049

425 HUB INTL LTD HBG 04/01/03 13 .50 5,737 16.50 7,012 1,275 85 1 21400 HUB INTL LTD 07/03/03 17 .88 7,153 16.50 6,600 (553) 80 1.21825 Security Sub-Total 12,890 13,612 722 165 1 .21

450 I L E X ONCOLOGY ILXO 07/30/03 17 .51 7,882 25.00 11,250 3,36775 I L E X ONCOLOGY 08/07/03 14 .82 1,112 25 .00 1,875 762

525 Security Sub-Total 8,99 4 13,125 4 ,129

1,050 IMPCO TECHNOLOGIES INC IMCO 01/06/04 8 .76 9,207 7 .05 7,402 (1,805 )

225 ICON PLC SPONSORED ADR ICLR 10/16/03 39 .67 8,926 33 .29 7,490 (1, 4 36)d00 ICON PLC SPONSORED ADR 10/30/03 d3 .49 16,997 33 .29 13,316 (3,681)50 ICON PLC SPONSORED ADS 11/24/03 39 .69 1,984 33 .29 1,664 (320)675 Security Sub-Total 27,908 22 ,470 (5,437)

350 INTGRTD CIRCUIT SYS NEW ICST 01/26/04 26 .54 9,291 27.54 9,639 347400 INTGRTD CIRCUIT SYS NEW 02/05/04 3 4.69 9,879 37 . 54 11,016 1,136750 Security Sub-Total 19,171 10,655 1,483

350 IPAYMENT INC IPMT 11/2 4 /03 25 .10 8,785 33 .20 11,620 2,835150 IPAYMP.NT INC 02/17/04 36.66 5,500 33.50 4,980 (520)350 IPAYMENT INC 02/19/04 34 .29 12,004 33 20 11,620 (384)850 Security Sub-Total 26,290 28,220 1,93 1

1, 425 IPASS INC IPAS 02/18/ 04 13 .16 18,757 12 .24 17, 4 62 (1,315)

475 INV6RESR RESEARCH GP INC IRGI 07/11/03 17 .00 8,079 27.08 12,863 4,783500 INVERESK RE9EARCF! GP INC 08/07/03 15 .43 7,717 27 .08 13, 5d0 5,822975 Security Sub-Total 15,796 26,403 10,605

300 JOS A BANK CLOTHIERS INC JOSE 02/24/ 04 30 .41 9,124 33.00 9,900 775

275 RStOLL INC DELAWARE CAM KROL 05 127/03 23 .63 6,499 23 .39 6,432 (67)250 KROLL INC DELAWARE CAM 06/23/03 26 .63 6,659 23 .39 5,8d7 (811)175 [LOLL INC DELAWARE COM 07/31/03 23 .10 4, 04 2 23.39 4,093 50100 !(ROLL INC DELAWARE CAM 09/17/03 21 .72 2,172 23 .39 2,339 166


PStatement Period Account N o44 01131 01/31/04 TO 02127/04 658- 7400 001013 1078

BUST MANAGEMENT ACCOUN T

Statement of Principal Investments AdJustlUnil Total Estimated Estimated Unrealized Estimated CurrentDate Cost Cost Market Market Gain or Annual Yield

Quan ti ty Security Description Symbol Sector Acquired Basis Basis Price Value (Loss) Income %

Equities

350 KROLL INC DELAWARE CAM 02 / 13 /04 25 .00 8 , 750 23 .39 8 , 186 ( 563)1 , 150 Security Sub -Total 28 ,123 26 , 898 (1,225)

2 , 825 KINTERA INC KNTA 12/22 /03 10 .05 28 , 391 15 31 4 3 , 250 14,85 9650 KINTERA INC 12/24/03 10 .42 6 , 779 15 .31 9 ,951 3 , 172225 RIN1`ERA INC 0 1/26 /04 10 .52 2 , 369 15 . 31 3,444 1 , 075

3 ,700 Security Sub -Total 37 ,539 56 , 647 19,106

2,250 LOGICVISION INC DEL CAM LGVN 09/11/02 3 19 7,184 4 .61 10,372 3,188

1 , 625 LECG CORP XPRT 11/17 /03 21 .03 3 4 ,173 19 . 65 31,931 ( 2,2 4 2 )

1,675 MICREL INC MCRL 09/11/02 9 .00 15,075 15 .04 25,192 10,116

475 MOLECULAR DEVICES MDCC 07/17/03 16 . 40 7,790 1B 70 8,882 1,092825 MOLECULAR DEVICES 08/07/03 17 .58 14,511 18 .70 15,427 915

1 ,300 Security Sub-Total 22 ,301 24 ,310 2 , 007

8,100 MANAGEMENT NETWORK GROUP TMNG 09/19/02 1 .50 12,150 4 .07 32,967 20,81 7

5 027517567 550

1,225

65067560 0

1 , 1 50

1 253,20 0

4 7525

50 01, 00 0

2,42585 0

3,275

775

MANHATTAN ASSOCS INC MANHMANHATTAN ASSOCS INC

MANHATTAN ASSOCS INCMANHATTAN ASSOCS INCMANHAT TAN ASSOCS INC

Secur i ty Sub-Total

MONOLITHIC SYSTEM TECH MOSYMONOLITHIC SY STEM TECHMONOLITHIC SYSTEM TECH

M ONOLITHIC SYSTEM TECHMONOL ITHIC SYSTEM TEC H

Secur i ty Sub-Tota l

9 9 CENTS ONLY STORES NDN99 CENTS ON LY STORES

99 CENTS ONLY STORESSecu rity Sub- Tota l

NEXTEL PART NERS INC CL A NXTP

NEXTEL PART N ERS INC CL A

Security Sub-Total

NEUROCFIEM INC CAM NRMX

03/03/03 20 . 5 8 1 , 0290 3 / 11 /03 19.35 5,32 104/17/03 22 .83 3,99607/2 3 /03 2 6 .93 18 , 1 8110/39/03 2 8 .11 1 , 40 5

29,93 4

09/ 11/02 10 .14 6 ,59111/08/02 1 0 4 9 7,0 8711 / 08/02 10 .49 6,29904/01/03 7 .0 8 0,14201/23/04 7.28 910

29,031

03/0 3 / 03 22.57 10,7 2 003/05/ 03 21 .09 53 703/ 11/03 21 .12 1 0,56 0

21,808

06/02/03 5 .60 13,5801 1/1 4 /03 1 1 .17 9,500

23,080

09/18/03 11 .58 8,974

29 . 6978 . 6928 .6 928 .6928 . 6 9

13 .1313 .1313 . 1 313 .1313 .13

2 5 .8525 . 8 525 . 85

12 .8212 .82

2 0 .2 1

1,4347,8895,02 0

19,3651,434

35,14 5

8,5348,8627,87 8

15 , 0991,641

42,016

12,27 8646

12 , 92525,850

31 , 088

10 , 89 7

41,985

15 , 66 3

4052,5681,0241,18 4

285,209

1,9431,7751,5786,95 7730

12,983

1,55 8119

2,3654,04 2

17,5081,396

18,90 4

6,68 8


P?1 e Statement Penod Account No45 31 01 1311 04 TO 021 27/04 65674E10 00101 3 1019


Statement ofPrincipal Investments Adjust/Unit Total Estimated Estimated Unrealized Estimated CurrentDate cost cost Market Market Gain or Annual Yield


Equitie s

3,850 NASSDA CORP NSDA 09/25/02 6 .79 26,141 7.95 30,607 6, 465

250 OPNET TECHNOLOGIES INC OPNT 09/11/02 7 .28 1,820 16 .53 4,132 3,311825 OPNET TECHNOLOGIES INC 04/21/03 5 .91 4,880 16 .53 13,637 8,7561,075 Security Sub-Total 6,701 17,769 11,067

5,025 02MICR0 INTL LTD OIIM 09/11/02 10 .43 52,410 18 .27 91,806 39,39525 02MICR0 INTL LTD 10/09/02 5.45 136 18.27 456 320550 02MICR0 INTL LTD 12/ 2O/02 10 64 5,852 1 e .27 10,048 4,19625 02MICR0 INTL LTD 01/30/03 8.55 213 18 .27 456 242

425 02MICR0 INTL LTD 07/31/03 14 .63 6,320 18.27 7,764 1, 54 46,050 Security Sub-Total 64,833 110,533 45,697

4,162 ODYSSEY HEALTHCARE INC ODSY 09/11/02 12 .46 51,864 21 .70 90,315 38, 4517 68 ODYSSEY HEALTHCARE INC 11/25/02 14 .96 11,795 21 .70 17,099 5,304175 ODYSSEY HEALTHCARE INC 12/10/03 29 .78 5,211 2 1.70 3,797 (l,dld)300 ODYSSEY HEALTHCARE INC 01/02/04 29 .68 8,904 21 .70 6,510 (2,394)425 ODYSSEY HEALTHCARE INC 01/06/04 26 .49 11,262 21 .70 9,222 (2,039 )

5 , 850 Security Sub-Total 89,037 126,945 37,908

375 0 REILLY AUTOMOTIVE INC ORLY 05/05/03 31 .28 11,733 40 .63 15,236 3,502525 0 REILLY AUTOMOTIVE INC 12/24/03 39 .17 20,567 40.63 21,330 763375 0 REILLY AUTOMOTIVE INC 02/06/04 37.80 14,175 40 .63 15,236 1,0611,275 Security Sub-Total 46,475 51,803 5,326

2 50 PORTFOLIO RECOVERY ASSOC PRAA 05/19/03 27 .19 6,798 24 .70 6,175 (623)INC

300 PORTFOLIO RECOVERY ASSOC 07/08/03 28.15 8,445 24 .70 7,410 (1,035)

INC25 PORTFOLIO RECOVERY ASSOC 07/15/03 27.68 692 24 .70 617 (74)

INC575 Security Sub-Total 15,935 14 ,202 (1,732)

175 PEDIATRIX MED GROUP PDX 10/08/02 32.18 5,632 62 .25 10,893 5,260750 PEDIATRIR MED GROUP 10/09/02 32 .04 24,033 62 .25 46,687 22,653375 PEDIATRIX MED GROUP 10/29/02 36.25 13,596 62 .25 23,343 9,74 675 PEDIATRIX MED GROUP 11/08/02 37 93 2, 846 62 .25 4,668 1,824

175 PEDIATRIX MED GROUP 11/25/02 39.98 6,996 62 .25 10,893 3,897100 PEDIATRIX MED GROUP 11/27/02 39 .75 3,975 62 .25 6,225 2,250150 PEDIATRIX MED GROUP 05/02/03 32 .65 4,897 62 . 25 9,337 4,440125 PEDIATRIX MED GROUP 06/13/03 40.66 5,058 62 .25 7,781 2,723150 PEDIATRIX MED GROUP 06/20/03 61.17 6,190 62 .25 9,337 3,147125 PEDIATRIX MED GROUP 06/26/03 32 17 4,021 62 .25 7,781 3,760


Pa e Statement Penod Account N o46 0131 01/31 / 04 TO 07)27/04 65674E10 001013 1019


Statement of Principal Investments Adjust/Unit Total Estimated Estimated Unrealized Estimated CurrentDate Cost Cost M arket M arket Gain or Annual Yield


Equitie s

2,200 Security Sub-Total 77,2 47 136,950 59,700

275 PHARM PRO D DEV INC PPDI 07/ 11 /03 28.89 7,945 29 . 4 6 8 , 1 07 161375 PHARM PROD DEV INC 07/18/03 2 d.06 9,023 29 . 48 11,055 3,031

200 PHARM PROD DEV INC 10/30/03 30 37 6,07 4 29 . 48 5,896 (178)850 Security Sub-Total 23,0 44 25,058 2,014,

]75 POP SOLUT IONS INC CAM POPS 09/1 2/02 6 . 4 0 2 , 6 02 1 1 . 5 5 4 ,3 31 1,9 28850 POP SOLUTIONS INC CAM 12/ 20/02 7 .3 8 6,277 1 1 . 55 9,817 3,5 d 01,225 Security Sub-Total 8,680 1 4,168 5,466

1,075 PEC SOLUTIONS INC CAM PECS 09/09/03 16 .27 17, d9 0 12 .61 13,555 (3,935)

950 PRINCETON REVIEW VTG A REVU 10/24/03 6 .99 6,642 8 .5 6 8,113 1, 470150 PRINCETON REVIEW VTG A 10/27/03 7 .00 1 ,050 8 .54 1,281 2 3 15 0 PRINCETON REVIEW VTG A 10/30/03 7 . 47 373 8 .54 4 27 53550 PRINCETON REVIEW VTG A 01/39/0 6 9 .03 4,967 8.54 4,697 (270)1,700 Security Sub-Total 13,033 1 4,518 1, 4 8 4

1,250 QUANTUM FUEL 3Y3 TECH QTWW 12/12/03 6 .98 8,725 9.20 11,500 2,77 5

550 RUD OLPH TECHNOLOGIES INC RTEC 12/09/02 15 .48 8 ,516 2 0 .51 1 1, 28 0 2 ,7 6 6150 RUDOLPH TECHNOLOGIES INC 12/3 1/0 2 19.10 2,865 2 0 . 51 3, 0 7 6 2 1 1550 RUDO LPH TECHNOLOGIES INC 0 d/2 8/ 0 3 14 . 46 7, 953 20 .51 1 1 ,2 80 3, 3 27400 RUDOLPH TECHNOLOGIES INC 05/21/ 03 11 .29 4 ,5 19 20.51 8 , 2 0 4 3, 68 475 RUDOLPH TECHNOLOGIES INC 02/05/04 21 .26 1 , 595 2 0 .51 1 ,53 8 (5 6 )

1,725 Security Sub-Total 25, 446 35,379 9,932

1,850 RFMEC INC R41C 07/31/03 9 .60 17,760 7 .00 12,950 ( 6 ,810 )575 REMEC INC 02/11/0 d 7 84 4 ,513 7.00 4,025 (488)2,425 Security Sub-Total 22,273 16,975 (5,298)

100 RESOURCES CONNECTION INC RECN 09/11/02 17 .90 1,790 33.23 3,223 1,432d25 RESOURCES CONNECTION INC 10/07/02 12 .23 5,197 32 .23 13,697 8,500525 Security Sub-Total 61988 16,920 9,932

400 S ELECT COMFO RT CORP SCSS 0 8 /0 8 /03 18 d9 7,398 27 .07 1 0, 828 3, d 3 9250 SELECT COMFORT CORP 11/17/03 26 .10 6,525 27.07 6,767 2 4 250 SELECT COMFORT CORP 12/09/03 25 . 00 1,250 27.07 1, 3 53 103

375 S E LECT COMFORT CORP 13/3 d/03 2 d 53 9,20 1 27 .07 1 0 , 1 51 9d9150 SELECT COMFORT CORP 02/02/04 2 2 .7 4 3, 411 27 07 d ,060 6d 91,225 Security Sub-Total 27,786 33,160 5,372

1, 425 SYMYR TECH INC S6IId7C 09/11/02 10 .30 14,677 26 70 38,047 23,36 9


Pa~ge Statement Period Account N o47 Of 131 07 1 31 1 04 TO 021 271 04 65674E10 001013 1010

nUST MANAGEMENT ACCOUNT

Statement of Principal Investments AdJusUUnft Total Estimated Estimated Unrealized Estimated CurrentDate Cost Cost Market Market Gain or Annual Yield


Equitie s

100 SYMYX TECH INC 1 1 / 19/02 1 0 .63 1 ,063 26.70 2,670 1,607

1, 150 SYMYX TECH INC 07/ 28/03 22 .00 25,30 0 2 6.70 30,705 5, 4 052,675 Secur i t y Sub-Total 41 ,040 71,422 3 0 , 381

1 , 300 9IR EHZA MICROD EVICES INC SFIDI 09/13 /02 1 . 76 2,288 5 .21 6,773 4 , 485

4,400 9IR EN2A M ICRODEVICES INC 09/ 1 7/02 1.65 7, 260 5 . 21 2 2 ,92 4 15,664

1,55 0 SIRENZA MICRODBViCE3 INC 07/07/03 2 .09 3,252 5 . 21 8,975 4,8237,250 Security Sub-Total 1 2,800 37,772 24,97 2

675 SMtFA WINS 06/ 20/03 10 . 46 7,063 10 . 41 7,026 (36)

825 SM6A 11/28/03 12 00 9,906 10 . 4 1 0,588 (1,318)

300 9 M6A 01/ 0 9/0 4 12 .30 3,691 10 . 41 3,123 (56 8 )1,800 Security Sub-Total 20,661 18,738 (1,9 2 2)

4 2 5 3RA I NTERNATIONAL INC A 3RX 09 / 26/03 38 .34 16,29 4 3 8 .50 16,362 68

425 9RA INTERNATIONAL INC A 10/2 4 /03 40 .46 1 7, 187 3 8.50 16,362 (824)

850 Securit y Sub-Tota l 33,481 32,725 (756)

500 SHUFFLE MASTER INC SHFL 05/02/03 23 .58 11,790 41 .68 20,8 4 0 9,050

575 SHUFFLE MASTER INC 06/1 8/03 26 .81 15, 4 15 4 1 .68 23,966 8,550250 SHUFFLE MASTER INC 07/08/03 28 .40 7,100 41 .68 10, 420 3,320

1,325 S ecurity Sub-Total 3 4,305 55,226 20,920

525 TECHNE CORP TECH 02/04/03 22 .29 11 , 70 2 40 .49 21,257 9 , 554

600 TECHN E CORP 0 4/21/03 19.81 1 1 , 890 40 .49 24,294 12,40 31,125 S ecurity Sub-Total 23,59 2 4 5,551 21 , 9 57

150 TARO PHARMACEUTICAL A TARO 09/ 11/02 31 .65 4 ,7 4 7 62.93 9, 4 39 4 , 6 9 112 5 TAR O PHARMACEU TICAL A 01/14/03 3 4 .3 9 4,299 62 .93 7 , 866 3,56 6200 TARO PHARMACEUTICAL A 03 /12/03 3 3 .03 6 , 607 6 2 . 9 3 13,5 8 6 5 ,97 85 0 TARO PHARMACEU TICAL A 04/21/03 4 5 .76 8, 288 6 2 .93 3 , 146 858

225 TAR O PHARMACEUT ICAL A 02/0 5 /0 4 61 . 44 13,824 62 .93 14 , 159 33 4

75 0 Security Sub-Tota l 3 1 ,767 4 7, 1 97 1 5, 6 27

1 25 UNIVERSAL TECH NICAL INST UTI 02/05/0 4 3 2 .09 4 , 01 1 37 .88 4,735 723

INC175 UNIVERSAL TECFINICN. INST 02/11/04 32 .77 5,73 6 37 . 88 6, 6 29 892

INC

300 S ecurity Sub-Total 9,747 11,36 4 1,615

325 UN ITED SUROICAI. P INTL USPI 06/19/03 2 4.19 7, 861 36 . 4 7 11,852 3,99 1

325 UNITE D SURGICAL P I NTL 0 6/27/03 21 .97 7, 14 1 36 . 4 7 11,852 4 ,711

325 UNITED SURGICAL P INTL 07/14/03 24.08 7,826 36 . 47 11,852 4 ,02 6

750 UNITED SURGICAL P INTL 09/ 29/03 28 .16 21,12 4 36 .47 27,352 6,227

ORVILLE & R UTH MERILLAT FOUNDA

Pey e Statement Period Account N o48 OT 131 01 131/ 04 TO 0 21 27104 656 . 74E10 001013 1019


Statement of Principal Investments AdJusNUnlt Total Estlmated Estimated Unrealized Estimated CurrentData cost cost Market Market Gain or Annual Yield

Quantity Security Description Symbol Sector Acquired B asis Basis Price Value (Loss) Income %

Equitie s

325 UNITED SURGICAL P INTL 11/04/03 33 .94 11,033 36 .47 11,852 819600 UNITED SURGICAL P INTL 11/11/03 32 .15 19,290 36 . 07 21,882 21592700 UNITED SURGICAL P INTL 01/07/04 32 .59 22,813 36 . 47 25,529 2,7153,350 Security Sub-Total 97,090 122,174 25,081

3,275 VERISITY LTD VRST 09/11/02 14 .04 45,981 10 .20 33,405 (12,576)375 VERIeiTY LTD 07/22/03 10.37 3,891 10.20 3,825 (66 )3,650 Security Sub-Total 49,872 37,230 (12,642)

250 WILSHIRE STATE BR CALIF W9HR 09/26/03 11 . 49 2,872 25.19 6,297 3, 49 5450 WILSHIRE STATE BR CALI F 10/02/03 11 .79 5,30 9 25 .19 11,335 6,025700 Security Sub-Total 8,182 17,633 9,45 0

4,925 WIRELESS FACILITIES INC WFII 09/13/02 5 .02 24,723 13 .06 64,320 39,5961,825 WIRELESS FACILITIES INC 10/39/01 4 .41 8,061 1 3 .06 23,83 4 15,7721,275 WIRELESS FACILITIES INC 11/18/03 1 7 .9 4 16,499 13 .06 16,651 152325 WIRELESS FACILITIES INC 12/05/03 12 .87 4,185 13 .06 4,2 44 5942 5 WIRELESS FACILITIES INC 01/21/04 16 .22 6,897 13 .06 5,550 (1,346)825 WIRELESS FACILITIES INC 01/ 2 9/0 4 14 .81 12,218 13 .06 10,774 (1,4 4 3 )

9,600 Security Sub-Tot al 72,585 125,376 52,790

Total Equities 2,705,766 3,556,466 850,632 1,493 . 0 4

Total of Long Portfolio 2,752,382 3,603,082 850 , 632 1 , 754 .0 5

+ OR VILL E & RUTH MERI LLAT FOUNDA

Pa e Statement Period Acc ount No49 0131 01/31/04 TO 02127/04 658-74E10 001013 1019


Statement of Principal Investments AdJusUUnlt Total Estimated Estimated Unrealized Estimated CurrentData cost cost Market Market Gain or Annual Yield


Equities

1,050 ACUITY BRANDS INC AYI 01/09/03 16 .41 15,137 24 .43 25,651 10,513 630 2 .45300 ACUITY BRANDS INC 10/01/03 18 .06 5,418 24 .43 7,329 1,911 180 7. 4 51,350 Security Sub-Total 20,555 32,980 12,424 810 2 .45

400 AMERICAN ]1XLEr.MFQ HLD69 AXL 12/18/03 38 .06 15,226 38 .01 15,204 (22)

550 ADE CORP MASS CAM ADEX 12/15 /03 17 .95 9 , 876 91 .80 11,990 2,113400 ADS CORP MASS CAM 01/09/04 20 .30 8,122 21 .80 8,720 597

200 ADE CORP MASS CAM 01/26/04 20 .55 4,110 21 .80 4,360 2491,150 Security Sub-Total 22,109 25,070 2,959

500 AXCAN PHARMA INC AXCA 11/18/03 14 .32 7,160 19 . 63 9,815 2,654500 AXCAN PHARMA INC 12/10/03 14 .33 7,167 19 . 63 9,815 2 ,64 750 AXCAN PHARMA INC 12/11/03 16 . 2 4 712 19 .63 981 269550 AXCAN PHARMA INC 12/15/03 14 .40 7,920 19 . 63 10,796 2,876200 AXCAN PHARMA INC 01/16/04 17 . 10 3,421 19 .63 3,926 504


400 ALBANY INTL. CRP NEW CL A AIN 03/05/03 22 .10 8,840 31 .92 12,768 3,927 112 . 87

350 ALARIS MffiDSCAI. 9Y3T@43 AMI 11/20/03 15 .33 5,368 21 .40 7,490 2,121INC

450 ALARIS MEDICAL SYSTEMS 12/02/03 15 . 36 6,912 21.40 9,630 2,718INC

700 ALARIB MEDICAL SYSTEMS 12/04/03 15 . 20 10,640 21.40 14,980 4,340INC

1,500 Security Sub-Total 22,920 32 ,100 9 , 179

300 AVIBTA CORP AVA 12/02/03 18 .00 5 , 400 18 .07 5,421 21 150 1.76450 AVISTA CORP 02/13/04 18 .19 8 ,186 18 .07 8 ,131 (54) 225 1 . 76750 Security Sub-Total 13,586 13,552 (33) 375 2.76

1,050 ASPECT CAiPSNCATN9 CORP ASPT 02/19/04 18 . 29 19,210 18 .06 18 ,963 (247 )400 ASPECT CAFAII7CATN9 CORP 02/24/04 17 . 61 7,046 18 . 06 7,224 177

1,650 Security Sub-Total 26,256 26 ,187 (70)

100 APOLLO GRP UNV PANX ONLN VOPX 12/1 0 /02 35 .67 3,567 80 .36 8,036 4,468150 APOLLO GRP UNV PHNX ONLN 01 / 22 /03 36 .36 5 , 154 80 . 36 12,054 6,900

150 APOLLO GRP UNV PHNX ONLN 01/24/03 33 .53 5 , 029 80 .36 12 , 056 7,024400 Security Sub-Total 13,751 32,144 18,392

650 ADVANCED MEDICAL OPTICS AVO 07/09/03 18 .54 12,055 23 .00 14,950 2,89 4

+ ORVILLE 8 RUTH MERILLAT FOUND APa e Statement Per iod Account N o

64 0131 01/ 31/ 04 TO 0 21 27/04 6 56-74H1 00,0,3 1019


Statement of Principal Investments acqustlunk Total Estimated Estimated Unrealized Estimated C~ srent

Quantity Security Description Symbol Sector Acquire dei d e~as°~is ss°~is ~ ~ vaiuet Gain or Income Yiel d %

Equities

200 ADVANCED MED ICAL OPTICS 0 8 / 17103 16 .53 3 , 3 0 6 23 .00 4,600 1,2948 5 0 Security Sub-Total 15 ,361 19,55 0 4,18 8

185 ADVO INC AD 06/33/03 29 .33 5 ,416 32.31 5 , 977 551 81 1 .365 9 5 ADVO INC 06/25/03 39 .d8 1 5, d80 32 .31 16,962 1,482 7 31 1 . 36710 Secu rity Sub-Total 20,906 99 ,9d0 2,033 312 1 .36

600 ANNTAYLOR STRS CORP ANN 08/21/03 33 .55 20,130 4 5.80 17, d80 7,350100 ANNTAYLOR 8TR9 CORP 06/22/03 3 3 .75 3,375 d 5 . 80 d ,58 0 1,20550 ANN TAYLO& STRS CORP 08/25/03 32 .35 1 , 617 45.80 2,290 672750 Security Sub-Total 25,122 34,350 9 ,2 17

1 5 0 APTARGROUP INC ATR 11/25/03 35 .00 5,250 40.45 6,067 817 d1 .69300 APTARGROUP INC 11/02/03 35 .50 1 0 , 6 5 0 40.45 12 , 1 35 1 ,4 85 Bt .6945 0 S ecur ity Sub-Total 15,900 28,202 2,302 126 .69

350 BRIGHTPOINT INC CELL 11/ 75/03 23 .55 8 , 166 1 7 . 03 5, 960 (2,283 )250 BRI(&tTPO I NT INC 12/01/03 22.83 5,708 17 . 0 3 6 ,257 ( 1 ,45 0 )35 0 BRIGHTPOINT INC 12/03/03 23.78 8,324 17.03 5,9 6 0 ( 2 ,3 6 3)95 0 Security Sub-Total 22,276 16 ,17 8 ( 6 , 096)

700 B LYTH INC 8TH 09/25/03 9 8.66 20,064 33.95 23,765 3, 700 71 0 . 8815 0 BLYTH INC 10/0 9 /03 28.15 4,222 33.95 5,092 870 45 . 8 88 5 0 S ecurity Sub-Total 24,286 18 ,857 4 , 5 7 0 255 .ee

1~,o BROWN SHOE CO INC COX BW8 01/09/04 36 .90 $1535 39.39 5,709 622 100 1 .01

50 0 B ENCH14ARR ELECTRONICS HHB 09/0 6/02 17 .7 9 6 , 9 9 6 34.81 17 ,405 8 , 5 0 8450 BENCHMARK ELECTRONICS 09/06/02 17 . 80 8,0 30 3 6 . 81 15,664 7, 6544 5 BEN(9IIdARA ELECTRONICS 09/06/02 17 .79 8 0 0 34.81 1 , 5 6 6 765995 S ecurity Sub-Total 17,707 3 4 , 635 16,927

400 BRIGGS 6 STRATTON PfI91CT BOG 11/12/03 6 4 .99 75,997 6 8 .35 2 7, 34 0 1 ,342 59 7 1 . 93150 BRIGGS 6 STRATTON WI81CT 01/09/0 4 6 6 . 85 10,027 6 8.35 10,252 225 196 1 . 93550 Secur ity Sub-Total 3 6,096 37,592 1 ,567 725 1 . 93

75 0 C-COR .NET CORP CON CCBL 02/11/04 17 .00 12,750 1 6.35 12,262 ( 487 )350 C-CARNET CORP COM 02/12/04 17 .40 6,090 1 6.35 5,72 2 (3 6 7)550 C-COR .NET CORP CAM 02/13/04 17 .12 9, 416 1 6 .35 8 ,99 7 (423)1,650 Security Sub-Total 28,256 26,977 (1,277 )

150 CONS GRAPHICS INC COX 1 2/ 03/03 30 .48 4,572 3 7 .26 5 ,58 9 1 , 01 7

+ ORVILL E & RUTH M ERILLAT F OUNDA

PStatement Period Account N o65 0101'31 01/31/ 04 TO 01/27/04 656 74E11 aow13 1019


Statement of Principal Investments AdJusNUnk Total Estimated Estimated Unrealized Estimated CurrentDate cost cost Market Market Gain or Annual Yield

Quantity Security Description Sy mbol Sector Acquired Basis Basis Price Value (Loss) Income %

Equities

200 CONS GRAPHICS INC 12/18/03 31 .95 6,390 37 . 26 7,452 1 , 06150 CONS GRAPHICS INC 02/06/04 34 .50 1,725 37 .26 1,863 138

4 00 Security Sub-Total 12,687 1 4 ,90 4 2 , 216

750 CYTYC CORP CAM CYTC 11/20/03 12 .69 9,517 16 .49 12,367 2, 84 9

900 CAMPIICREDIT CORP CCRT 06/ 26/03 12 . 00 10,800 21 .66 19,49 4 8 , 694400 COMPUCREDIT CORP 07/10/03 12 .94 5,179 21 .66 8,66 4 3, 4 8 41,300 Security Sub-Total 15,979 28,158 12,178

800 CINCINNATI BELL INC NEW C8H 07/23/03 6 .50 5,200 5 .15 4,120 (1,080)50 CINCINNATI BELL INC NEW 07/25/03 6 .15 307 5 .15 257 (50)

2,400 CINCINNATI BELL INC NEW 10/02/03 5 .34 12,830 5 .15 12 ,360 ( 4 70)1,000 CINCINNATI BELL INC NEW 11/1 4/03 5 .39 5,396 5 .15 5 , 150 (246)4,250 SecuritySub-Total 2 3,73 4 21,887 (1,846 )

650 CHOICE HOTELS INTL NEW 0341 10/08 /03 30 .76 19 , 999 4 3 . 85 28,502 8,502 520 1 .82

500 CSR AUTO CORP CAO 02/06/04 18 .34 9,171 19 .28 9 , 64 0 4 6 8800 CSR AUTO CORP 02/09/04 19 .78 15 ,e2e 19 .28 15,424 (40 4 )1,300 Security Sub-Total 25 ,000 15,06 4 64

500 CEC SNTMT INC FANS 40 . 1 CEC 11/19/03 48 .76 24,380 54 .57 27,2e5 2 , 905100 CEC ENTMT INC FANS $0 .1 11/25/03 49.60 4,960 54 . 57 5,457 4 96150 CEC ENTMT INC KAN9 6 0 .1 12/02/03 51 .53 7,730 54 .57 8,185 4 54750 Security Sub-Total 37 , 071 4 0 , 9 27 3,855

300 CBRL GROUP INC CAM CBRL 11/25/03 40 . 50 12,150 37 .99 11,397 (753) 132 1 .15200 CBRL GROUP INC COM 12/08/03 40 .05 8,010 37 .99 7,598 (412) 88 1.15500 security Sub-Total 20,160 18,995 (1 , 165) 220 1 . 15

200 CAPITAL CROSSING BANK CAPE 02/19/06 64 .23 17,847 65 .90 13,180 332

350 CARLISLE COS INC CSL 09/ 27/03 43 . 92 15,374 56 .95 19,932 4,557 308 1 .54200 CARLISLE COS INC 09/10/03 45 .47 9,094 56 . 95 11,390 2,296 176 1 .54550 Security Sub - Total 24,468 31,322 6,853 484 1 .54

250 CHECKPOINT 9Y3 INC CRP 09/23/03 16 . 33 4,084 18 .65 6 ,663 577250 CHECKPOINT 9Y3 INC 09/23/03 16 .14 4,035 18 .65 4 ,662 626750 CHECKPOINT 3Y3 INC 10 /01 /03 15 . 95 11,962 18 .65 13,987 2,025

1,250 Security Sub -Total 20,083 23 ,312 3,778

400 CLAIRE9 STORES INC FLA CLE 07/30/03 13.75 5,500 20.22 8,088 2,588 96 1.181,100 CWIREB STORES INC FLA 08/13/03 15.02 16,527 20 .22 42,242 5,714 263 1.18

+ ORVILLE & RUTH MERILLAT FOUN D A

71 e Statement Period Account N o.66 31 0113 1/04 TO 02J27/04 656 74E17 001013 1019


Statement of Principal Investments AcQusf/Unk Total Estimated Estimated Unrealized Estimated CuretsData Cost Cost Market Market Gain or Annual Yield

Quantity, Security Description Symbo l Sector Acquired Basis Basis Price Value (Cosa) Income %

Equities

200 C,.LAIR89 STORES INC PLA 0 8/19/ 0 3 1 5 .80 3 , 160 20 .22 4,044 8 84 dB 1 .181 ,700 Security Sub -To tal 2 5 ,187 3 4 , 374 9 , 1 86 407 1 .18

1 ,050 COMPUTER NSTD7EtR TECfIIiI.QY CMdT 09/26/03 8.77 9,217 1 0 .16 10 ,668 1 ,45 0550 COMPUTER NETNEtR TSCFRdLC )Y 09/29/03 9.11 5,015 10.16 5,588 572


6 0 0 CRANE CO D ELAWARE CR 1 7/0 2/03 29 .97 17,98 3 32 .1 4 1 9,284 1, 3 00 740 1.24

450 DIME COMMUNITY HANC8HA8 DCAM 10/21/03 25 .71 11,570 31 .5 3 1 0 , 188 2,617 360 2 .53

400 DIGITAL RIVER INC DEL DRN 05/29/03 18 .64 7,45 9 21 .89 8 ,75 6 1,29 650 DIGI TAL RIVER INC DEL 0 6/0 6/03 1 9.65 982 2 1.89 1,096 112

100 DIGITAL RIVER INC DEL 06/ 11/03 17 .89 1 ,789 21 . 89 2,189 3 9 9550 Security Sub -Tota l 1 0,230 17 ,03 9 1, 8 0 7

480 DELPH I P INANCiAI. CARP A DFO 01/0 7 /0 3 25 .53 12,256 3 8 .98 18,710 6,454 153 . 8 2

300 DIODES INC CAM DIOD 07/ 75/03 14 . 94 4, 773 22.88 6,864 2,5903 0 0 DIODES INC CAM 07/30/03 13 .38 4,0 1 6 29 .8 8 6, 8 6 4 3, 84845 0 DIODES INC COM 07/31/ 03 1 3.53 6,09 0 22.88 10,296 4,2061 0 0 DIODES INC CON 01/1 6 /0 4 23 .73 2,373 13 . 8 8 7 , 1 8 8 ( 8 5 )

1, 150 S ecurity Sub-Total 16,752 26,312 9,559

80030 0

1,100

900650S0 0

2,050

1,100

45 0

1,550

1,300

ELECTRONICS FOR IMAGING EFIIELECTRONICS FOR IMAGING

Security Sub-Total

IIXPRB88JBT HOLDINGS IN C %J TIflCPRE98J6T HOLDINGS INC

IIXPRBBBJET HOLDINGS rNCSecurity Sub-Total

EQUITY ONE EQYRE IT

EQUITY ONEitE I T

Security Sub-Total

FiARTHLINR INC CAM ELNR

12/02/03 28.03 77 ,41 612/12/03 26.11 7,833

30,257

07/10/03 15.75 14,17507/ 79/03 14 .60 9, 4 9010/02/03 14 .25 7,125

30,790

01/21/04 17 .57 19,33 4

07/17/Od 18 .35 8,257

39,591

12/18/03 9 .86 12,818

25 . 33 2 0 ,164 (2,160)75 .33 7 ,599 (73 4 )

27 ,863 (2,394)

13 . 73 12,357 (1 , 818)13 .73 8 , 92 4 (565)13 .73 6 , 865 (260 )

18 ,14 6 (2, 6 43 )

18 .71 20 ,581 1 ,246 1 , 73 2 5 . 98

1 8 .71 8 , 419 162 50 4 5 . 98

29,000 1 , 4 08 1 ,736 5 . 98

9 . 1 3 1 1, 869 (949 )


Pa e Statement Period Account No .67 0131 01/31/ 04 TO 02J27/04 656-74E" 001013 1019


Statement ofPrincipal Investments AcU ustlUnk Total Estimated Estimated Unrealized Estimated CurrentDate cost cost Market Market Gain or Annual Yiel d


Equities

700 6ARTHLINK INC CAM 02/13/04 10 .06 7,031 9 . 13 6,391 (640)2,000 Security sub-Total 19,850 18,260 (1,589)

350 EAGLE MATERIALS INC EXP 08/28/03 64 .97 15,7 4 1 58 .35 20, 4 21 4,680100 E AGLE MATERIALS INC 01/21/04 56 . 56 5,656 58 .35 5,835 179450 Security Sub-Total 21,397 26,757 4,85 9

350 ENERGEN CRP CAM PV 1C.ENT EGN 08/06/03 33 . 53 11,735 41 .52 14,532 2,796 259 1 .78100 ENER6EN CRP COM PV 1CENP 08/11/03 33 .74 3,374 41 .52 4 ,15 2 778 74 1 .78250 ENERGEN CRP CAM PV KENT 10/17/03 37 . 25 9,312 41 .52 10,380 1,067 185 1 . 78700 Security Sub-Total 34,422 29 ,064 4,661 518 1 . 78

100 FIRST AMERICAN CORP CAM PAP 08/14/03 24 .81 2,481 30 .55 3 ,055 574 60 1 .96350 FIRST AMERICAN CORP CAM 08/19/03 16 .84 8,694 30.55 10,692 1,998 210 1 .96450 Security Sub-Total 11,175 13,747 2,572 270 1 . 9 6

1,200 FLAGSTAR BANCARP INC COM FBC 01/30/04 33 .06 27,680 25 .85 31,020 3,339 1,200 3 . 86300 FLAGSTAR BANCORP INC CAM 02/09/04 23 .06 6,918 25 .85 7 ,755 836 300 3 . 86

1,500 Security Sub-Total 34,598 38 ,775 4,175 1,500 3 . 86

450 FIRST BANCORP P .R . FBP 12/12/03 38 .50 17,327 42 .45 19,102 1,775 215 1 .13250 FIRST BANCORP P R. 02/ 02/04 40 .85 10, 216 43 .45 10,612 398 120 1 .13100 FIRST BANCARP P .R . 02/10/04 41 .73 4,173 42 .45 4,245 7 2 4 8 1 .13800 Security Sub -Total 31,714 33 , 960 2,245 383 1 . 1 3

1,400 FRffiQONR' OENL CORP PMT 07/01/03 13 .70 19,180 22 .45 31,430 12,250 280 .89200 PREMONT GENL CORP 08/22/03 13 .65 2,730 22 .45 4,490 1,760 40 . 8 9250 FREMON1' OENL CORP 08/27/03 19 .95 3,237 22 .45 5 ,611 2,375 50 . 8 9

1 , 850 Security Sub - Total 25,147 41,532 16,385 370 . 8 9

1 , 000 GLOBAL IMAGING SYSTEMS Q19X 09/06/02 17 .65 17 , 650 30 .16 30 ,160 12, 51 0600 GLOBAL IMAGING SYSTEMS 09/06/02 17 .65 10 , 590 30 .16 18,096 7 , 506

1,600 Security Sub-Total 20, 240 48,256 20,01 6

100 GLACIER BANCARP INC NEW GBCI 02/04/04 30 .41 3,041 32 .31 3 ,231 189 BO 2 .47200 GLACIER BANCARP INC NEW 02/05/04 30 . 11 6,023 32 .31 6 ,662 438 160 2 .47100 GLACIER BANCARP INC NEW 02/06/04 30 .81 3 , 081 32 .31 3 , 231 149 80 2 .47400 Security Sub-Total 12,146 12,924 776 320 2 .47

500 QAME9TOP CORP DEL CL A ONE 12/10/02 18 .35 9,175 18.65 9,325 150150 GAMESTOP CORP DEL CL A 12/11/02 18 .09 2 ,713 18.65 2,797 8 6500 QA14E6T 0 E CORP DEL CL A 05/29/03 12 .65 6,325 18 .65 9,325 3,000

1,150 Security Sub-Total 18 , 213 21,447 3,234

ORVILLE & RUTH MERILLAT FOUNDA

Pagg Statement Period Account No68 Of 131 01/31/04 TO 02J27/04 65674E11 001013 1019


Statement of PilncIpaI Investments AcqustlUnR Total Estimated Estimated Unrealized Estimated Cin~e rttDataCost Cost Market M arket Gain or Annual Y leld

Quantlty S e curity Description Symbol Sector Acquired Basis Basis Pric e Valu e ( Loss) I ncom e 'K

Equities

600 6ENLYTS GROUP INC 6LYT 1 0/ 16 /03 4 4 . 13 17,692 5 6 .78 11 ,711 5, 02 0

500 HELEN OF TRY LTD PV$0.10 HELE 01/28/04 29 .00 I i~, 500 29 .13 27,673 121

900 H060TON ROYALTY TR UBI HOT 10/ 16/03 19 .69 17 ,721 19 . 9 5 17 , 955 2 33 1 ,6 7 0 9 .021 00 H040TON ROYALTY TRIIBY 1 1/1 3/0 3 20 .15 2,015 19 .95 1 , 9 9 5 (20) 1 60 9 .02

1,000 S ecuritySub-Total 19 ,736 19 , 950 213 1 , 8 01 9 .0 3

450 JOHN H HARLAND CO JH 09/0 6/02 25 .7 1 1 1 ,569 30 .17 13,576 2 ,007 180 1.3230 JOHN H HARLAND CO 09/06/02 25 .71 771 30.17 905 1 3 3 17 1 .32350 JOHN H NAEtLANDCO 0 1 / 11/04 27 .97 9,790 3 0 . 17 1 0,559 7 68 140 1 .32830 Security Sub-Tot al 2 9 , 131 25,041 2 ,908 332 1 . 72

2,350 HERCULES INC HPC 11/25/03 1Q . 49 24, 6 59 1 1.90 27,965 3 , 3 0 5

400 IPC HOLDINGS LTD IPC R 09/06/02 29 .70 11 , 880 3 8 .95 15,580 3 , 699 320 7 .054 00 IPC HOLDINGS LTD 12/12/03 37 .86 15,145 3 8 . 9 5 15 ,580 434 320 2 .05800 security sub-Total 57,025 3 1,160 4, 133 640 9 .05

350 LMAD I6TICB INTL. INC 161 02/10/04 39 .72 13,904 44 .95 15,732 1 , 87 8100 IHAQI8TIC9 INTL INC 02/11/04 40.24 4,024 44.95 4,495 470450 security sub-Total 17,928 20,227 2,29e

110 [DSXR LAS INC DEL $0 .10 IDXX 09/06/02 30 .0 2 3,303 5 1.07 5, 6 17 2 ,314500 ID83IX LAB INC DEL 30 .10 09/06/02 30 .02 15,01 4 51 .07 75,535 10,5 10500 IDEIIX LAB INC DEL 3 0 . 10 09/06/02 30 .02 15,014 51 .07 25 ,535 10,5203 00 1057 IX LAD INC DEL 30 .1 0 09/06/02 30 .05 9 , 015 51.07 15,32 1 6 , 3061 0 0 IDEXIt LAB INC Dom. 3 0 . 10 09/06/02 30 .04 3,004 5 1 . 07 5 , 107 4 , 1 0 3

1,510 S ecuritySub-Total 45,351 7 7 , 115 3 1 ,7 6 3

400 INVACAAS CORP IVC 02/11/04 45.28 1 8 ,111 44.68 17,e72 (340) 20 .11

115 JO-ANN STORES INC JAS 09/06/02 27 .39 3, 15 0 26.88 3,09 1 (5 6 )34 JO-ANN STORES INC 09/06/02 9 7 .79 945 16 . 88 913 (31)575 JO-ANN STORES INC 09/23/02 24.71 14,210 26.88 15,456 1,246724 Security sub-Total 18,305 19,461 1 ,157

550 KENNETH COLE PRODUCTIONS RCP 01/23/04 34.61 1 9 , 039 33 .76 18 , 568 (471) 264 1 .42100 KENNETH COLE PRODUCTIONS 01/26/0 4 3 4.63 3,463 33.76 3,376 ( 87) 48 1.42650 Security Sub-Total 22,502 21,944 (558) 312 1 .67

400 R09 PHARMACEUTICALS INC 1090 11/19/03 46 .60 18,642 66 .01 17,60 4 (1,038 )100 R08 PHARMACEUTICALS INC 11/20/03 42.84 6 ,28 6 44 .01 4,401 117100 ROB PHARMACEUTICALS INC 12/01/03 44 .42 4,442 44.01 4,401 (41)

+ ORVILL E & RUTH M ER ILLAT FOUND A

7731 Statement Period Account No .69 01l31104 TO 02127/04 65674E1 1 001013 1019


Statement of Principal Investments AcQust/Unk Total Estimated Estimated Unrealized Estimated CurrentDate cost cost M arket Market Gain or Annual Yiel d

Quantity Sec u rity Description Symbol Sector Acquired Basi s Basis Price Valu e (Loss) I ncome %

Equitie s

600 Se curi ty Sub-Tot al 27,368 7 6, 4 0 6 (962 )

300

20 0soo300250

1 ,250

4505 0

500

700

1 , 15 0450

1 , 600

250

150

150

200

150

150

800

450

1 0 0

200

ICERZNER INTL LIMITED KZL

KEANE INC ERAiCF.ANB IN C

ICBANB INCICHANE INC

Security Bub-Total

I03I.LPIOOD CO END

KELLWOOD COSecurity Sub-Total

I.ANDAMLRYG FNCL GROUP LPG

LENNOX INTL INC LIILENNOX iNr[. INC

Security Sub-Total

!1 D C HOLDINGS INC DEL MIDC

NID AMERICA APT CMNTYS MAAEMITMID AMERICA APT CMNTYSEMITMID AMERICA APT CMNTYSRBIT

MID AMERICA APT CMNTYSEMI T)MD AMERICA APT CMNTYSLIMIT

Security cub-Total

HILLS CORPORATION CAM ML9FLEI THILLS CORPORATION COM

FtEI T

MILLS CORPORATION CAMFIEI T


Pa~ge Statement Period70 oT 131 01/37/ 04 TO 02f711 04

12/18/03

07/01/0307/08/0308/19/0302/11/04

02/02/0402/06/04

11/13/03

01/29/0402/10/04

02/13/04

17/19/03

01/07/04

01/09/04

01/21/04

01/22/04

36 . 99

1 3 . 5 01 3 . 5 514 .5514 .67

40 .8141 .66

51.28

16 .721 8 .33

6 7 . 8 5

3 3 . 94

34 .13

33 .79

33 .49

33 .8 4

01/10/03 35 .20

09/0 8 /03 38 . 10

09/ 1 010 3 3 8 .1 9

Account No .85674E11

11,0 97 3 8 .50

2,700 10 .816,775 14 .824,365 14 . 8 23,7 17 14 .8217,55 7

18,367 41 .962,083 41 .96

20,45 1

35, 89 6 46 .80

19,234 1 8 . 618,207 18 . 61

27,44 2

16 , 963 70.43

5,091 35 . 8 6

5 ,119 35 . 86

6 ,75 8 35 .86

5,023 3 5 .86

5, 077 3 5 . 86

27,06 9

15,8 4 0 4 9 . 8 6

3,810 4 9 .86

7,638 4 9 .8 6

001013 019

11,550

2,9647,4104,4463,70 5

18 ,5 1 5

18,6822,09 8

20,980

32,760

21,40 18,374

29,776

17,60 7

5 .37 9

5,379

7,172

5,379

5,37 9

28,688

92, 037

6,986

91972

452

26463 581

(12)968

51 414

518

(3,136 )

2,166167

2,33 3

644

288

359

aia

355

30 1

1,617

6,597

1,176

2,334

2883 2

320

280

437171608

175

351

351

468

351

35 1

1,872

1,071

238

476

1 .521 .521 .5 2

.85

2 .042 .042 .0 4

.70

6 .52

6 . 54

6 .52

6 . 5 2

6 .52

6 . 5 2

4 .77

4 .77

4 .77


Statement ofPrincipalInvestments aAusUUnn Total Estimated Estimated Unrealized Estimated currarrtDate cost cost Market Market Gain or Annual Yield

Qu a ntity S ecuri ty Description Sym bo l Sector Acqui red Basis Basis Price Val ue (Loss) Incom e %

Equitie s

750 S ecurity Sub -Total 27,288 3 7 ,3 95 10,107 1 ,785 4 . 7 7

15020035 0

40100100350150740

800

400

210315525

75 01 50900

200300soo

4051507 751 5015 0

1,080

550250800

1,600

200

1I0VAD0 GROUP INC CAM MOV140VAD0 GROUP MC COM

Security Sub - Total

tU fBSAWORR 9 INC CAM MRSIMMexwoxxe INC coMHEMIDERSPORR9 INC CAMlMfBBRWORR9 INC CAM!MMBA4PORR 8 INC CAM

Security Sub -Tota l

1lACROVI9 ION CORP COM M V9N

l4t0 SOFTWARE INC CAM FIItOI

t(B FINANCIAL INC NEW FIDFI

HI3 F INANCIAL INC NEWSecurity Sub-Total

IONS PiBARH0II9H I NC COM H67KEN8 W6 11RFIOIIB B INC CAM

Security Sub-Total

H ICR03 8Y8 T@4B I NC MCRBMICROS SYSTEMS INC

Se curity Sub-Total

i100a INC CL A MOG AtSOOO IN C CL APf00G INC Q. A

tf00 0 INC CL A1400 0 INC CL A

Security Sub-Total

1 RJSV0 ENERGY CO NEVNUEVO ENERGY CO

11UEVO ENERGY COSecu rity Sub-Total

pATL HEALTH INVS INC NHI

oa/li/o a02/12/04

11/25/0211/25/0211/25/0211/25/0209/24/03

06 / 03 /03

12/09/03

09/06/0205 /06/03

08/25/0308/75/03

09/25/0309/29/03

07/03/0201/24/0302/12/0302/13/0311 /03 /03

09/17/0309/22/0309/25/03

01/13 /04

26 .1126 .6 8

1 8 . 8818 .8 81 8 .8718 .8730 .10

1 8 .99

13 . 4 7

23 .141 5 . 7 4

26 .1226 .12

35 . 9833 . 68

15 .5220 .0221 .0320 .3228 .12

17 .7 61 7 .7 718 .3 9

25 1 9

ORVI LLE & RUTH MERILLAT FO UNDA

Pa 99 Statement Period Account No.71 Of 131 01 1 31/04 TO 021 27/04 656-74E11

3, 9 1 65 , 3379,25 3

7551,8881 , 8876,6044,51 515,649

15,192

5 ,390

4 , 8607 ,95 1

12,812

19 , 5903 , 91 8

13 , 508

7 , 19610,10417 , 30 0

6 , 2883 , 0034 , 7373 , 0484,21 8

71 , 790

9 ,7684,44 2

14,71228,922

5, 0 3 9

001013 10%

3 0 .5 130 . 51

36 . 0734 . 0734 .0734 .0734 .07

19 .52

13 .87

37 .3937 .39

76 . 1326 .13

43 .6443 .64

35 . 9335 .9335 .9335 .9335 . 9 3

28 .4728 .4729 .47

7 7 . 9 0

4,5766,10 2

10 , 678

1,3623,4073,40 7

11,9245 , 11 0

as, 2ii

1 5, 616

S ,SdB

7,85 111 ,77719 , 629

19 , 59 73 , 919

73 , 517

8,72 813,09221,820

14,55 15 , 3898,0845 ,3895 ,38 9

38,804

1 5,6587 ,11 7

22,77645,552

5,590

6 607 64

1,434

6071 , 519i,sao5,32 0

59 59 , 561

423

15 7

2,9913 , 8266,8 17

718

1 , 5312 , 9874,518

8,2622 , 3863,3512,3411 , 17 1

17 , 511

5,8902,6758 ,0 6 3

16,628

540

36 .7 848 .788t .7 8

100 1 .28151 1.28252 1.2 8

320 5 .7 3


Statement of Principal Investments AcQustlUnk Total Estimated Estimated Unrealized Estimated CurrentData cost cost Market Market Gain or Annual Yield


Equities

REIT

rj' 06 NEW CENTURY FINCL CORP NCEN 05/05/03 26 .98 13 , q-9 1 4 9 .00 2 4.500 479 1.3075 NEW CENTURY FINCL CORP 06 /06 /03 33 .97 9 ,54 7 49 . 00 3, 675 1,127 48 1 .3 0

,rj' jrj Security Sub-Total 28, 175 527 1.30

350 NEIMAN MARCUS 6RP CL A NMGA 01 /98 /04 56 .13 19 , 64 8 56 .48 19 ,768 119 182 . 92350 NEIMAN MARCUS GRP CL A 0 1 /30/04 54.54 19,092 56 .49 19 ,768 675 182 . 99700 Security Sub-Total 38,740 39,536 794 364 .92

400 NATIONAL PINL PARTNERS NFP 12/01/03 25.88 10,355 32 .18 12,871 2,51 6CORP

300 NATIONAL FINL PARTNERS 01/15/04 30.26 9,078 32 .18 9,654 576CORP

700 Security Sub-Total 19 ,433 22, 596 3,09 2

650 OWENS eMINOR INC NEW CAM OMI 08/20/03 23 .99 15,593 2 4.77 16,100 507 285 1 .77350 OWENS sslINOR INC NEW CAM 09 / 04 / 03 23 .95 8 , 382 2 4 . 7 9 8 ,669 787 151 1 . 77

1,000 Security Sub-Total 23,976 3 4,770 794 439 1 .77

500 PENN NATL GAMING CORP PENN 07/17/04 26 .93 13, 468 26 .26 13,130 (338 )

1,100 PRIMUS TELECOM 6P INC PRTL 11/20/03 9 .74 10,717 7 . 57 8,327 (2,390)1,200 PRIMUS TELECOM OP INC 11/25/03 10 .16 12,703 7 . 57 9,084 (3,119)2,300 SecuritySub-Total 2 1 ,911 17 ,411 ( 5 ,509 )

600 PAC CAP BANCORP NEW NPV 4080 01/22/04 36 .20 11 , 716 39 .42 13,65 2 1 ,917 528 1 .23150 PAC CAP BANCORP NEW NPV 01/28/04 37 .28 5,592 39 . 49 5,913 321 13 2 1 .93100 PAC CAP BANCORP NEW NPV 02/05/04 36 .99 3 , 699 39 .41 3,942 242 88 2 .2 3850 Security Sub-Total 31,015 33,507 2,490 7 48 1.73

250 P Exx I NBtaII+.R INC CAM PKI 08/04/03 14.93 3,732 20.84 5 ,210 1 ,677 70 1 . 341,100 PERRINBI M A.R INC COM 10/28/03 17.91 19,71 2 20 .84 22,924 3,212 308 1.341 ,350 Security Sub-Total 23,444 18 , 1 34 4 ,689 378 1 .34

1 ,600 PIER Fff.D69 INC GA COW PTER 11 / 25 /03 8 .53 13 ,65 4 9 .88 15 ,808 2 , 15 3350 PIER 111.063 INC GA CON 12/09/03 8 .51 2 ,978 9 .88 3 ,458 4793 50 PTSK HI.Da9 INC GA COW 12 /11/03 8 .28 2 ,899 9 .88 3 ,458 558700 PTER HLDa9 INC GA COM 12/12/03 8 .52 1 ,704 9 .88 1,976 271

2,500 Security Sub-Total 91, 237 24,700 3,461

350 PDI INC DELAWARE COM PDII 02 / 12/04 30 .61 10 , 715 24 .93 8,725 (1,989)

750 PLAINS SXPL AND PRODCTN PRY 01/ 26/O 4 16 . 01 12,013 16 .31 12 ,932 2 1 9

ORVILLE & RUTH MERILLAT FOUNDA

Pa-99 Statement Period Account No72 of 737 01/31/04 TO 02127/04 65674E11 00103 1019


~• -

Statement of Principal investments Ad)usUUnit Total Estimated Estimated Unrealized Estimated CurrentData cost cost Market Market Gain or Annual Yield

Quantity Socurity Description Symbol Sector Acquired Basis Basis Price Value (Loss) Income %

Equities

1,000 PLAINS EXPL AND PRODCTN 01/27/ 04 16 .00 16,000 16 .31 16,310 310 -1,750 Security Sub-Total 28,013 28,542 529

400 P.EDWOOD TRUST INC RWT 01/07/04 49 .09 19,637 60.75 7 4 ,300 4,662 1,039 4 . 77REIT

200 REDWOOD TRUST INC 01/09/04 49 .98 9 , 996 60.75 12,150 2,154 520 4 . 27P.EIT

600 Security Sub -Total 29 , 633 36,450 6,816 1,559 4 . 77

2,700 E tfiG FINCL CORP CL H RGF 09/06/02 15 . 4 9 41,832 31 .34 8 4,618 42,786 947 1 .12

700 ROFIN SINAR TECH INC RSTI 07/10/03 15 .86 11,104 29 .94 20,958 9,853350 ROFIN SINAR TECH INC 07/22/03 15 .03 5,260 29 .94 10, 4 79 5,218200 ROFIN SINAR TECH INC 07/23/03 15 . 15 3,030 29 .94 5,9 88 2,958

1,250 Security Sub -Total 19,39 4 37,6 25 18,029

330 REGIS CORP MINN R69 11/26/02 26 . 53 8,754 43 .22 14,262 5,507 52 . 372 8 0 REGIS CORP MINN 06/18/03 19 .35 5 ,870 43 .22 8,640 2,774 1 2 . 37530 Security Sub-Total 14,624 29,906 8 , 281 8 4 . 37

130 FtE9PIRONICB INC RESP 09/06/03 33 . 87 4 , 403 52 .23 6,789 2,38 6400 RE9PIRONICB INC 10/38/03 40 .35 16,140 57 . 23 20,892 4 ,752530 Security Sub -Total 20,543 27,681 7,13 8

1 4 0 ROLLINS INC ROL 11/13/ 02 16 .13 1,358 33 .2 3 3,252 993 33 1 . 03225 ROLLINS INC 01/06/03 17 .90 4, 019 23 .23 5,226 1,197 54 1 . 03400 ROLLINS INC 06/18/03 19.00 7,600 23 .23 9,292 1,692 96 1 .03150 ROLLINS INC 07/10/03 18 .95 2,842 23 .23 3,484 642 36 1 .03915 Security hub-Total 16,730 21,255 4 ,590 219 1 . 03

500 RYLAND GROUP INC RYL 09/06/01 41 .81 20 , 905 85.72 42,860 11,955 199 . 4 680 FtYLAND GROUP INC 09/06/02 4 1 . 81 3,344 85.72 6 , 857 3,512 3 2 . 46580 SecuritySub-Total 24,249 49,717 25,467 231 .46

150 :ICHFIIT2ER STEEL 17408 A 9CfIN 12/02/03 49 .38 7,407 48.29 7,243 (163) 15 . 20300 SCHNITZER STEEL INDS A 12/23/03 57 .63 17,289 48.29 14,487 (7,807) 30 . 20450 Security Sub - Total 24,696 21,730 (2,965) 45 .70

900 SUPERIOR ENERGY SVGS INC SPN 08/ 08 /03 9 .02 8,118 9.53 8,577 459

400 SUPERIOR ENERGY SVGS INC 01/22/04 9 .58 3 , 833 9 .53 3 ,812 (21)1 ,300 Security Sub-Total 11 ,951 12 ,389 438

500 EIS & C TECHNOLOGIES INC SSNC 07 / 09 /03 17 . 38 6, 69 4 50 .79 25 ,395 16 ,700 105 .41200 98 & C TECHNOLOGIES INC 01/76/04 39 .94 7 , 988 50 .79 10 ,158 2 , 170 42 .4 1

+ ORVILLE & RUTH M ERILLAT FOUND A

P Statement Period Account No73 01131 01 /31104 TO 02127/04 65674 E11 001013 1019


Statement of Principal Investments AcUustlUnt! Total Wmatea Estimated Unrealized Estimated CurrentDate cost cost Market Market Gain or Annual Ylel d

Quantity Socurity Description Symbol Sector Acquired B asis Basis Price Value (Loss) Income %

Equities

700 security sub-Total 16,682 35,553 18, 870 111 .61

3 0 0 :tILGAN HLDG9 INC COX SLON 17/30/03 6 3 .85 13, 157 44 .49 13, 36 7 1 6 9

400 SRI PINCL GROUP B RY P 08/0 4/03 22 .65 9 ,06 2 26.91 10,764 1 ,70 1 336 3 .12

250 fJFBC INTL INC DEL CON BFCC 08/06/03 22 .93 5,7 3 3 19.94 7,4 8 5 1 , 7 5 1

30 0 JFeC INTL INC DEL CAM 08/1 4/03 25 .48 7,644 29.94 8,962 1 , 3 3 8

50 E1PBC INTL INC D EL CON 0 8/25/0 7 2 6.29 1,3 14 29.94 1 , 697 10 2

150 JFBC INTL INC DEL CON 09/29/03 27 .19 4, 078 29 .94 4,4 91 412

1 0 0 OPEC INTL INC DEL CAM 01/14/0 4 29.33 2,933 29.94 2 , 994 61

850 S ecurity Sub-Total 21,703 25,449 3,744

25020080040 0

1,65 0

9050020015010010 0

1 , 140

85010095 0

201001003003 5 030 0

1,170

aoo4006 0 0

EICB TRANSPORTATION INC 8C8TSCS TRANSPORTATION INCSea TRANSPORTATION INC'JCS TRANSPORTATION INC

Security Sub-Tota l

SOUTH PINL GROUP INC CAM TBPaSOUTH FINL GROUP INC C014SOUTH FINL GROUP INC 0024SOUTH FINL GROUP INC CONSOUTH PINL GROUP I= comSOUTH FINL GROUP INC CON

Security Sub-Total

:iYBRON DENTAL SPCLTS INC 8YD

SYBRON DENTAL SPCLTS INCSecurity Sub-Total

SIERRA HEALTH 3VC8 INC Big

SIERRA HEALTH BVCB INC

SIERRA HEALTH 9VC9 INCSIERRA HEALTH BVCB INCSIERRA HEALTH 9VC8 INC

SIERRA HEALTH SVCS INC

Security Sub-Total

STERIS CORP STE

;iT2RIS CORPSecurity Sub-Total

08 /06 /03 1 4 .30 3 ,57710 /01 /03 15 .57 3,11410/10 /03 15.12 12,09710/16 /03 1 4 .69 5 , 87 6

24 , 666

09 /06 /02 21.24 1 ,91 209 /30 /02 21 .11 10 ,55509/30/02 21 .01 6 ,10101/07 /04 29 .38 4,60701/06/04 29 . 15 2,91507 /09 /04 29 .69 9 ,96 9

96 ,960

12 /11 /03 78 .55 34 ,26702/03/04 27 . 75 2,77 5

27,042

09 /06 /02 18 .44 36809/06/02 18 .44 1 , 94409 /06 /02 18.44 1 , 84412 /11 /02 11 .95 3 ,58507 /06 /03 13.24 6 ,63 410 /10 /03 22.10 6 ,63 0

16,906

0 8 / 1 3/03 21 .90 4 ,3 8 00 8 /18/03 22.50 9 ,0 0 1

13 ,38 1

ORVILLE 8 RUTH MERILLAT FOUNDA

Pa.gQ Statement Period Account N o74 of 73 1 01131/ 04 TO 07127104 656 .74E11 0o+013 1019

ai . os21 .0521 .05ai .os

30 .823 0 . 8230 .8230 .8230 .823 0 . 8 4

28 .4128 .4 1

33 . 4333 .4333 . 4333 .4333 .4333 .4 3

35 . 1975 . 19

5,2624,21 0

16,8408,420

36 , 73 9

1 , 77315,410

6 , 1644,6233,0823,06 2

35 ,134

16 ,1682,84 1

]6 , 989

6683,3433,34 3

10,02911 , 70010 , 07939 , 11 3

5 , 0381 0, 07 615,114

1, 68 51 ,0 9 54,7428,5 310,065

86 14 , 85 51,962

216167112

8, 173

(119)6 6

(53)

2991,4981 , 4986,4447, 0 663,39 9

20,204

6571, 0 7 41,731

5430012 090606 0

684

1 . 9!1 . 9 41 .941 . 9 41 . 9 41 . 9 41 . 9 4


Statement ofPrincipal Investments AdJust/ U nR Total Estimated Estimated Unrealized Estimated ConantDate cost cost Market Market Gain or A nnu a l Yield

Quantity Security Description Symbol Sector Acquired Basis Basis Price Value ( Cosa) Income %

Equities

2,100 8YBA88 INC CAM BY 09/06/02 13 .62 98,60 9 21 .51 45,171 1 6 ,56 91 00 8YBA8B INC CAM 09/06/02 13 .62 1,362 21.51 2,151 78 91 0 BYBA98 INC CAM 09/06/02 13 .62 136 21.51 215 7 8

1 ,210 S ecurity Sub-Total 3 0 , 100 47,5 3 7 17,43 6

3 50 THORNBIIR6 M'l43 INC CAM TMA 09/06/02 20 .34 7,11 9 29 . 4 5 10,307 3 ,18 8 896 8 . 69200 tHORNBURU MTO INC CAM 09/06/02 20 .34 4 ,06 8 2 9 . 45 5,090 1, 821 512 8 . 69

3 0 THORNBURG MT(i INC CAM 09/06/02 20 .34 610 29 .45 883 273 76 8. 695 80 Security Sub-Total 1 1 ,7 9 7 17,081 5,283 1,484 8 . 69

100 'PRIIeTM11RR CORP CAM TRMK 01/0 4 /04 19 .64 9 ,964 30 .49 3 ,0 4 9 85 76 2.49250 TRUSTDfARR CORP CAM 02/05/04 29 .39 7,348 30.49 7,622 2 7 4 190 2 .49200 'tRIISTMARR CORP CAM 03/09/04 29 .91 5, 981 30 .49 6,09 8 llfi 152 2 .49150 '1'RQBTpAFtR CORP CAM 02/11/04 30 .00 4,500 30. 49 4,573 7 3 111 7 . 41 9 '700 S ecu rity Sub-Total 20,794 21,343 548 532 2 .49

150350500

65 01,000

350350

2,350

70020030 0

1,200

850

30 0

1,150

700

550400

'T'EXAS REOL HC8HR9 A VTG TRB9'TEXAS RSOL BCSHRS A VTO

Security Sub-Total

'PE80R0 PETE CORP TSOTEBORO PETE CORP'l'E80R0 PETE CORPTESORO PETE CORP

Security Sub-Total

'PRAN3ACTION 9Y9 ARCATC A TSAI

TRANSACTION SYS ARCNTC ATRANSACTION 9Y8 ARCHTC A

Security Sub-Total

TRIIIRC COMPANIES INC TRYBSER 1 CL BTFtIARC COMPANIES INC

3ER 1 CL BSecurity Sub-Total

TENNECO AUTOMOTIVE INC TEN

TANOX INC CAM TNORTANOX INC CAM

01/28/04OZ /06/04

12/12/0312/30/0301 /07/0401/13/04

12/16/0312/22/0301/22/04

01/15/04

of/ae/oa

02/19/0 4

12/12/0301/07/04

38 . 1238 . 25

13 .0814.8215 .0015 .00

20 .1920 . 9523 .30

11 .44

11 . 5 1

13 . 56

14 . 8914 .5 4


pa-99- Statement Period Account No .75 01 01/31/04 TO 02/ 771 04 65 6-74E11

5,71 8 39 .60 5,940 2211 3,3 87 39 .60 13, 86 0 4721 9 ,10 6 19, 800 6 93

8,502 18 .25 1 1 , 8 67 3 ,3 6014,823 1e .25 1e,250 3,4265,252 18 .25 6 , 38 7 1 , 1 345,250 1 8.25 6 , 38 7 1 , 137

33 , 8 2 8 42,887 9 , 057

14,134 17 .9 9 12,593 (1,5 41)4,190 1 7 .99 3,598 (592)6,9 9 0 17.99 5,3 97 ( 1 , 59 3 )25,315 31,588 (3,726)

9,778 11 . 10 9,435 (293)

3,453 11.10 3,330 (123)

13,181 1 7,765 ( 4 16)

9, 498 13 .39 9,373 (1 7 5)

8,192 16 .52 9,086 8935 , 819 16.52 6,608 788

001013 1010

72 1 .21168 1 .714d 0 1 .91

TRUST MANAGBMENT ACCOUNT

Statement of Principal Investments Musdunit Total Estimated Mmated Unrealized Estimated c uRSr rtQuantlty, 3Security Description Symbol Sect o

r Date cost cost Market Market Gain ~Income YieldQuantity Acquired Basis Basis Price Va l u e

Equities300 TANOX INC CAM 01/ 17/04 1 5.73 4,7 70 16.52 4,956 23 5

1 1150 Security Sub-Total 18 ,733 20,650 1,91 6

1 ,200 TEREX CORP DEL NEW CAM TEX 10/20/03 20.72 24,864 35 .03 42,036 17,172150 TP1tE7[ CORP DEL NEW CAM 11 /11 / 03 22 .85 3,427 35 .03 5 , 954 1,827

1,350 SecuritySub-Total 28,291 47 ,290 18 , 99 9

200 TORO CO TTC 01/21/04 46 .05 9,210 55 .05 11 , 010 1,800 4 8 .4 3d00 TORO CO 0 2/03 / 06 4 7 .67 19 , 069 55 .05 21 , 0 2 0 2,950 96 . 1 3600 Security Sub-Total 28,279 33 , 030 4,750 1 4 1 .4 3

900 L rpI CORP NEW UOI 09 /06 /07 23 . 46 21,120 33 . 10 29 .790 8 , 669 1,026 3 .46

I,450 US ONCOLOGY INC CAM 08/04/03 7 . 85 11 ~ 3q4- 12 .43 16 , 6 45 6,857600 08 ONCOLOGY INC CAM 08/11/03 7 .59 4,556 17 .43 7 ,458 2 ,901

1 . 900 P 8 ONCOLOGY INC CAM 09 /25/03 7 .43 14,124 12.43 33 , 617 9,492

3 950 Security Sub -Total 30 0-74- 67 ,150 23,S39

1,725 UNITED ONLINE INC ONTD 01 / 17 /03 11 .06 19 ,090 17.22 29 , 7 04 10 ,61 4

600 IINIT3D STATIONERS INC USTR 09 / 14/03 39 .84 23 ,907 39 .71 2 3,816 (81)150 UNITED STATIONERS INC 10 / 17 / 03 4 0 .00 6 ,000 39 .71 5 ,956 ( 4 3)750 Security Sub-Total 29 ,907 39 , 78 2 (17 4 )

260 UNIVERSAL FOREST PRODS UPPI 09/06/02 19 .7 1 5,126 31 .77 8 ,260 3 , 133 26 . 31450 DNSVffit9AI. FOREST PRODS 10 /14/03 79 .18 13 ,176 31 .77 14, 996 1,120 45 .31710 Security Sub-Total 18,303 1 2, 556 4,753 71 .31

600 VIA9AT INC COM VSAT 12/04/03 ]1 . ]8 12,771 26 .75 16 , 050 3,27 9250 YIA91 1T INC CAM 12/12/03 19 . 35 4,839 76 .75 6 , 68 7 1 , 868200 VIASAT INC COW 02/11/04 2 5 .98 5 , 196 26 .75 5 ,350 153

1 ,050 Security Sub-Total 22,806 28,087 5,28 0

1,250 VE27['A8 INC VTR 01/21/04 23 .50 2 9 , 3 7 5 26 . 45 33,062 3,686 1 , 337 4 .04REI T

1,400 WE9TBLL TECH A WSTL1,350 WESTELL TECH A


P qg Statement Period76 Of ~31 01/ 31/ 04 TO 011 271 04

05/29/03 7 . 1 5 1 0, 1 61 7 . 66 10,724 5 6106 / 02 /03 7 .75 10,471 7 . 66 10,341 ( 130 )

Account No6%74E1 1 001013 1019

TRUST MANAGEMENT AccouNT

Statement of Principal Investments acqustfunn Total Estimated Estimated Unrealized Estimated cuntDate cost cost Market Market Gain or Annual Ylkl

Quantity Security Description Symbol Sector Acquired Basis Basis Price Value (Lose) Incom e

Equities

2,750 Security Sub-Total 90,634 21,065 431

750 1OR1C INTL CORP LIEN YA& 09/12/03 31 .50 24,377 37.33 27,997 3,619 450 1.60100 YORK INTL CORP NEW 01/26/04 38 .33 3,833 37.33 3,733 (100) 60 1.60850 Security Sub-Total 28,710 31,730 3,519 510 1 .60

34 W HOLDING CO INC CON WHI N/A A N/A 20.04 681 7 1.0917 A7 HOLDING co INC CON N/11 0 N/ A 20.04 3 40 3 1.0 9

1,100 N HOLDING co INC CON 01/09/01 18 .41 20,251 20.04 24,04 4 1,793 241 1 .0 9400 W HOLDING CO INC CAM 01/13/04 18 .78 7,512 70.04 8,016 506 67 1 .0 9300 9P HOLDING CO INC CAD! 01/21/04 19 .67 5,901 20.04 6,012 111 65 1 .0 91,051 Security Sub-Total 33,664 37,094 9,408 406 1.09

700 WASHINGTON 4P INTL NEW PiOII 01/29/0 1 37 .29 26,103 38.28 26,796 69 2

Total Equities a '7 g~~~45 3,424,853

Total of Long Portfolio• - Excludes N/A Items


P Statement Period Account No.77 01131 01131104 TO 02127104 656-74E11 00013 10%

f 4


Statement of Principal Investments Adjust! Unit Total Estimated Estimated Unrealized estimated CurrentDate Cost Cost Market Market Gain or Annual Yiel d

Quantity Security Description Symbol Sector Acq uired Basis Basis Price Value (Loss) I ncom e %

Equities

2,400 AXA APR AXA 10/22/02 13 .54 32,505 23 .10 55,440 22,934 7e7 1 .412,300 AXA ADR 10/29/02 13 .62 31,332 2 3 . 10 53, 130 2 1,797 75 4 1 4 1

800 AXA ADR 01 / 13/03 1 4 .39 1 1 ,515 23 .10 18, 48 0 6 ,96 4 262 1 .4 1

5,500 S ecurity Sub -Tot al 75,35 2 1 27,050 51,695 1 , 803 1.41

2,300 ARZO NOBEL N V SPNSD ADR ARZOY 05/08 /03 2 3 . 51 5 4 ,081 3 8 .85 89,355 35,273 2,941 3 . 2 9

4,800 A1400C9 LI MITED DOX 11/ 04/02 7 . 81 37,530 27 . 8 8 133, 824 96,29 31 ,7 40 AbIDOC3 LIMITED ` 12/ 18/02 10 .37 18,043 2 7 .8 8 4 8 ,5 11 30,4671,5 95 ANDOCS L IMITED 1 2 / 19/03 10 .25 16,340 27.ee 44,469 2 8,1198,135 S ecurity Sub-Tot al 71,925 2 2 6,8 03 154,879

3,200 ANGLO AMERN PLC A DR AAUR 08 /01 / 0 3 1 7 . 45 55, 84 0 2 5 . 30 80,960 25, 12 0 1 , 631 2 . 01

1 ,000 AVENTIS SPON AD R AVE 05/14/03 5 2 .99 5 2 ,9 90 7 7 . 25 77, 2 5 0 2 6 , 260 609 .78400 AVENTIS SPON A DR 10 /17/0 3 54 .33 2 1,7 32 77.25 30, 900 9 , 1 6 8 343 .78300 AVENTIS SPON AD R 12/01/03 5 8 . 4 7 17 ,541 77 . 25 23,175 5, 6 34 1 82 . 7 81,700 S ecurity Sub-Total 92, 2 63 131,325 3 9 , 062 1,036 .7 8

4 , 680 PS .LI NZ AKNGSLST SPD A DR AZ 04 / 03/03 4 .43 20,7 6 1 1 2.55 58,734 37,97 2 613 1 .041 , 200 ALLINZ AKNGSLST SPD A D R 04/16/03 6 .73 8 ,083 12 .55 15 ,060 6 ,976 157 1 .0 4900 P.LLIN 2 ARN6SL9T SPD ADR 04/2 3/03 6 . 85 6, 170 12.55 1 1,29 5 5,1 24 1 17 1.04

6, 780 S ecurity Sub -Total 35,0 15 8 5, 089 5 0 , 072 888 1.04

1,500 AEO N COMPANY LTD ADR AONNY 12/01/03 34 .75 52,125 3 6 .55 54 , 8 25 2,700 265 .4 8

1 , 100 BANCO ITAU HLD6 FIN ADR ITU 01/24/03 21 . 0 0 23 ,1 0 0 4 7 . 50 52,250 2 9 , 1 5 0 1,5 4 2 2 . 9 5

800 BASF AG SPONSO RED ADR BF 03/27/03 3 8.36 30, 694 53 . 46 42,768 12 ,074 1,000 2.34

3,000 BHP BILL ITON LTD A DR BHP 09/ 10 / 02 10.29 30, 8 85 19 . 11 57,3 3 0 26,445 44 9 .7 8

975 COCA COLA F EM SA L SP ADR KOF 1 0/3 0/0 2 2 0 .75 20,231 23 .78 2 3,1 85 2,954

625 COCA COLA FEMSA L 9 P ADR 10/31 /02 21 . 11 13, 193 23 .78 14,862 1 , 6 6 8700 COCA COLA F E MSA L SP ADR 04/10/03 18 .57 13,001 2 3 .78 16 ,646 3,644

2,300 S ecur i ty Sub-Total 4 6, 426 54,694 8 , 2 6 6

700 CRE D IT SUI99E GP 3P ADR CSR 1 0/1 6 /02 17 .50 12,250 36 .63 25,641 13,39 0 32 . 1 2

300 CREDIT SUISSE GP 9P ADR 11/15/02 20.75 6,225 36 .63 10,989 4,764 1 4 12

400 CREDIT SUISSE GP SP A DR 04/29/03 23 .24 9,296 36 63 1 4,652 5, 356 18 . 12

1, 400 Security Sub-Total 27,771 51,282 33,510 65 1 2


Pa e Statement Penod Account No113 of 131 01/31104 TO 02/ 27104 65674E13 wiaia 1019

e 6


Statement of Principal Investments AdJust/Unlt Total Estimated Estimated Unrealized Estimated CurrentDate Cost Cost Market Market Gain or Annual Yield

Quanti ty Security Description Symbol Sector Acquired Basis Basis Price Value (Loss) Income %

6qultl e a

1,600 CANON INC ADR REPSSN CAJ 09/10/02 33 .40 53, 455 49.15 78,640 25,184 6E3 .85400 CANON INC ADR REP59H 10/16/02 32 .67 13,069 49 .15 19,660 6,590 167 .85

2,000 Security Sub-Total 66, 524 98,300 31,77 4 836 .85

1,900 CONTINENTAL AG SPNRD ADR CTTAY 06/06/03 21.75 41,325 41 .00 77,904 36,579 752 .96

1,000 DIAGEO PLC 9P9D ADR NEW DEO 10/2 4/03 46 .80 46,800 56 .65 56,650 9,850 1,864 3 .2 9400 DIAGEO PLC SPSD ADR NEW 11/24/03 49 .02 19,611 56 .65 22,660 3, 048 7 45 3 .29900 DIAGEO PLC 9P90 ADR NEW 01/30/04 53 .38 48,042 56 .65 50,985 2,943 1,670 3 .29

2,300 Security Sub-Total 114, 453 130,295 15,8 41 4,289 3 .29

180 F:ISAI CO LTD SPN ADR ESALY 02/23/ 04 25 .60 4,608 27 .13 4,884 276 46 .95

6,000 FRESENIUS M C AG SPN ADR F143 10/30/02 10 .51 63,109 22 .35 134,100 70,990 1,73 4 1 .29

800 (:LAX09MITHKLINE PLC ADR 09K 09/30/02 37 .88 30,304 42 .62 34,096 3,792 697 2 .04200 ULAXOSMITF[RLINE PLC AIR 01/29/03 36 .84 7,368 42 .62 8,52 4 1,155 17 4 2 . 04355 CLA7C09MITHRLINE PLC ADR 04/03/03 37 .15 13,188 42.62 15,130 1,941 309 2 .04955 (:LA7COSMITHRLINE PLC ADR 01/15/04 44 .6 4 42,634 42 .62 40,702 (1,931) 832 2.04600 CiLAXOSMITHRLINE PLC ADR 01/28/04 44 .52 26,712 4 2.62 25,572 (1,140) 523 2 .0 4

2,910 Security Sub-Total 120,206 124,024 3,817 2,537 2.04

1,860 INTL POWER PLC SPON ADR IPR 02/19/04 2 5 .91 48,208 26.40 49,104 89595 INTL POWER PLC 3P034 ADR 02/20/04 25 .75 2,446 26. 40 2,508 61

1,955 Security Sub-Total 50,65 4 51,612 956

400 ING GP NV SPSD ADR INa 09/10/02 20.87 8,348 24.59 9,836 1,487 343 3 .49500 ING GP NV SPSD ADR 10/16/02 16.84 8,421 2 4.59 12,295 3,873 429 3 .49700 ING GP NV SPSD ADR 10/29/02 16.51 11,557 24 .59 17,213 5,656 601 3 . 4 9600 ZNG GP NV SPSD ADR 04/29/03 16.45 9,872 24 .59 1 4,756 4 , 881 515 3 .49

2,200 Security Sub-Total 38,198 54,098 15,897 1,889 3 .49

870 KIRIN BREWERY LTD 3P ADR KNBWY 11/05/03 8 .15 7,090 9.25 8,047 9574,830 FCIRIN BREWERY LTD SP ADR 11/06/03 8 .1 4 39,330 9 .25 44,677 5,3461,565 F:IRIN BREWERY LTD 8P ADR 02/02/04 8 .80 13,772 9 .25 1 4 , 476 704150 }CIRIN BREWERY LTD 9P ADR 02/03/04 8 .80 1,320 9.25 1,387 67885 KIRIN BREWERY LTD 9P ADR 02/04/04 8 .90 7,876 9 .25 8,186 30 9

1,000 ICIRIN BREWERY LTD 9P ADR 02/10/04 8 .99 8,998 9.25 9,250 2519,300 Security Sub-Total 78,388 86,025 7,634

9,625 KINGFISHER PLC 3P ADR KGFHY 09/10/02 6 .90 66,433 11 . 40 109,725 43,291612 KINGFISHER PLC SP ADR 11/21/02 7 .49 4,589 11 .40 6,976 2,386



Page Statement Period Account No .114 OT 131 01/31/04 TO 07127I04 65674E13 001013 1019

c '


Statement ofPrincipal Investments AcQ ust/Unit Total Estim ated Estimated Unrealized Estimated CurrentDate Cost Cost Market Market Gain or Annual Yield

Quantity Security Description Symbol Sector Acquired Basis Basis Price Value (Loss) Income Yo

Equitie s

1,000 HOOIQ7IN BANK NEW BPN ADR KB 09/10/02 4 3 .57 43,576 41.53 41,530 (2, 046) 7 61 1.69300 I :OOINSIN BANK NEW SPN ADR 09/30/02 35 . 44 10,632 41.53 12,459 1,827 210 1.69

1,300 Security Sub-Total 54,208 53,989 (219) 912 1 .69

3,200 LAFARGE ADR NEW Lit 08/01/03 16 . 79 53,755 21 .76 69,632 15,876 1,561 2 .2 4

30010010010020010030010010010010070018010 0

2,580

50030080 0

4,4001,3002,2007,90 0

1 , 10020040 0

1,700

2,100

lfILLEA HOLDINGS INC ADR PLEATff LLEA HOLDINGS INC AD RlIILLEA HOLDINGS INC ADR

lfILLE11 HOLDINGS INC ADRMILLER HOLDINGS INC ADR

!'IILLEA HOLDINGS INC ADRMILLE71 HOLDINGS INC ADR

DIILLEA HOLDINGS INC ADR

DiILLEA HOLDINGS INC ADRDfILLEA HOLDINGS INC ADR

MILLFA HOLDINGS INC ADRHILLEA HOLDINGS INC ADRlfILLEA HOLDINGS INC ADR

!lI LLEA HOLDINGS INC ADRSecuri t y Sub-Total

MITSUBISHI ESTATE ADR MITEY

MITSUBISHI ESTATE ADRSecurity Sub-Total

NOMURA HLDGS INC ADR DMIItNOMURA HLD69 INC ADRNOMURA RLDO9 INC ADS.

Security Sub-Tota l

NESTLE 8 A REP RO 8H ADR NSRGYNESTLE S A RE P RG 9H ADRNESTLE S A REP RQ SH AD R

S ecur ity Su b -Total

URBOTECH LTD CA M ORBK

ORVILL E & RUTH MERILLAT FOUN DA

Page Statement Period11 5 o f 1 3 1 01/31/04 TO 021 71I04

0 9 / 10/0 211/18/0211/18/0 2line/oa11/18/0211/18/0211/18/0211/18/0211/18/0211/18/0211/18/0211/18/0201/09 / 0301/16 / 03

38 . 5536 . 0 036 .0036 .0036 .0036 .0036 . 0036 . 0036 . 0036 . 0036 . 0036 . 0036 . 5036 . 1 5

09 / 0 2/03 91 . 3012/01/03 91 . 50

02/04/03 12 .5005/ 0 7/ 0 3 10 . 550e/12/03 13 .25

11/0 6 /03 S4 .7011/18/03 55 . 6012/01/03 5 8 . 65

09/10/02 17 . 2 7

Account N o.65674E13

11 , 5653 , 6003 , 6003 , 6007,2003 , 60 0

10 , 8003 , 6003 , 6003 ,6003,60 0

25,2006 ,5703 ,61 5

93 ,750

45 , 65027,4507 3 , 100

55,01713 , 72 779 , 1 5 09 7, 89 4

60, 17 011,12023,46094,750

36,26 9

001013 1010

64 .1266 . 176 0 . 1364 .1264 .1264 .1260 . 1264 .1264 .1260 . 1264 .1264 .1264 .1264 .12

118 .00118 .0 0

15 .9615 .9615.96

65 .9 465 .9465 .94

24 .80

19,2366, 4 126,4126, 4 1 7

12,8246,412

19,23 66,4126,4126,4126,41 2

44,88411,5 41

6,41 2165,429

59,00035,40094,400

70,22420,74835,1 1 2

126,08 4

7 2 , 53613 ,1 8826,37 6

112,101

52,080

7 , 6 7 12,8122,8122,8125,6242,8128,4362,8122,8122,8122,81 2

19,6844 , 9712,79 7

7 1 , 679

13, 3 5 07 , 95 0

21 , 300

15 , 2067,0205 , 962

28 , 188

12,3662,0682 ,91 6

17,350

1 5, 81 0

107353 5357 13 5

1 0 73535353 5

249643 5

921

295177472

76122438 0

1 , 36 6

1 ,1 6921242 5

1 , 807

. 55

. 55

. 55

. 55.55.55.55. 55.55. 55. 55. 55. 55. 55. 55

. 50

. 50

.5 0

1 . 081 .081 .081 . 0 8

1 . 611 .611 . 611 . 61

r


Statement of Principal Inves tments Adjust/ unlt Total Estimated Estimated Unreal ized Estimated CurrentDate Cost Cost Market Market Gain or Annual YieldQuantity Security Description Symbol Sector Acquired Basis Basis Price Value (Loss) Income %

Equitie s

4,535 PORTUGAL TELE 96P3 ADR PT 01/10/03 7 . 36 33,382 11 .31 51 ,290 17,908 671 1 . 301,430 PORTUGAL TELE SGP9 ADR 01 /13 / 03 7 .48 10 , 701 11 .31 16 ,173 5,471 211 1 . 301 , 120 PORTUGAL TELE 34P9 ADR 01/16/03 7 .60 8,512 11 .31 12,667 4,155 165 1 . 3 0415 PORTUGAL TELE 36P9 ADR 01/17 /03 7 .55 3,133 11.31 4 ,693 1,560 61 1 . 30

7 , 500 Security Sub-Total 55,728 84,825 29,094 1 ,110 1 .30

1,725 PCCW LTD ADR PCW 02 /12/04 8 .29 14 , 306 7 .87 13 , 575 (731)325 PCCW LTD ADR 03/13 /04 8 .20 2 , 665 7 . 87 2,557 (107)155 PCCW LTD ADR 02 /18/04 8 . 04 1,246 7 .87 1 ,219 (26)

4,695 PCCW LTD ADR 02/19/04 8 .00 37 , 572 7 .87 36 , 949 (622)6 , 900 Security Sub -Total 55 ,790 54 , 303 (1 ,486 )

3 ,400 PEARSON SPONSORED ADR PSO 03/27 /03 8 .08 27,492 11 .83 40 ,222 12,729 1 , 308 3 .252 , 900 PEARSON SPONSORED ADR 04 / 10 /03 8 .35 24,215 11 .83 34,307 10,092 1 , 116 3 .256 , 300 Security Sub -Total 51 , 707 74,529 22,821 2,425 3 .25

1,000 PLTRLEO BRAS VTG SPD ADR PBR 11/04/02 13 .40 13 , 400 31 .20 31 ,200 17,800 1 ,348 4 . 3 2700 PGTRLEO BRAS VTG 9PD ADR 07/14/03 20 .75 14 , 525 31 .20 21,840 7,315 944 4 .321,700 Security Sub-Total 27,925 53 ,040 25,115 2 ,293 4 .32

3 , 900 PUBLICIS GROUPE SPON ADR PUB 11/19/02 22 .84 89 , 109 34 .83 135,837 46 , 7 27 90 8 . 66

4 , 250 PERNOD RICARD SA SPD ADR PDRDY 10/22/02 20 . 60 87,550 31 .00 131,750 44,200 1 ,789 1 . 3 5900 PERNOD RICARD SA SPD ADR 02/05 /04 29 .50 26 , 550 31 .00 27,900 1,350 378 1 . 35

5,15 0 Security Sub -Tot a l 1 1 4 , 100 159, 650 4 5, 550 2,168 1 . 3 5

600 REUTERS GROUP PLC ADR RTRSY 09/10/02 24 .89 14,935 43 .79 26,274 11,338 572 2 .1 71,400 REUTERS GROUP PLC ADR 11/11/02 19 .24 26 , 936 43 .79 61,306 34,370 1,335 7 . 172,000 Security Sub -Total 41,871 87 ,580 45,708 1 , 908 2 .17

1,385 ROYAL KPN N V SP ADR KPN 03/27 /03 6 .66 8 ,928 7 .97 11 , 038 2 ,11 03,495 ROYAL RPN N V SP ADR 03/28/03 6 .40 22,368 7 .97 27,855 5,487100 ROYAL KPN N V SP ADR 03/28/03 6 .40 640 7 .97 797 157

5,220 ROYAL RPN N V 9P ADR 03 /31/03 6 46 33 , 772 7 . 97 41,603 7 , 83 110,200 Security Sub -Total 65 , 708 81,294 15,58 5

900 RIO TINTO PLC SPNSRD ADR RTP 09 /10 /02 71 .32 64 , 188 109 .90 98,910 34 ,721 2 , 718 2 .7 4

900 RYANAIR HLDGS PLC ADR RYAAY 01 / 29 /03 38 .65 34 , 605 34 . 61 31,149 (3 , 456)500 RYANAIR HLDGS PLC ADR 06/06 /03 4 4 16 22 , 081 34 .61 17 , 305 (4 , 776)

1 ,400 Security Sub-Total 56 , 686 48,454 (8 , 232 )

3 , 800 RHODIA INC SPONS ADR R}iA 09 / 11 /03 7 09 26 , 970 4 . 28 16,264 (10 ,706) 395 2 . 421 , 7 3 0 RHODIA INC SPONS ADR 09/ 16/ 03 7 20 12 , 4 71 4 .28 7 , 4 0 4 ( 5 , 067 ) 179 2 42

ORVILLE & RUTH MERI LLAT FO UNDA

Peg e State ment P eriod Account No116 Of 131 01/31/04 TO 02J 27/04 65674E13 001013 1019

1


Statement of Principal Investments AdJustlUnlt Total Estimated Estimated Unrealized Esti mated Curre ntDate cost cost Market Market Gain or Annual Yiel d


Equitie s

670 RHODIA INC SPONS ADR 09/17/03 7 . 40 4,958 4 .28 2,867 (2,090) 69 2 .422,500 RHODIA INC SPONS ADR 10/21/03 5 .20 13,012 4 .28 10,700 (2,317) 260 7 . 428,700 Security Sub-Total 57, 412 37,236 (20,175) 904 1 . 41

735 REAM PLC- NEW NEW ADR AEMT! 08/13/03 35 .00 25,725 43 .34 31,854 6,129 2,793 8 . 76465 AEXAM PLC- NEW NEW ADR 08/29/03 33 . 13 15,409 4 3 . 3 4 20,153 4 ,7 43 1,767 8 . 76

1,400 REXAM PLC- NEW NEW ADR 10/22/03 3 4 .80 48,730 4 3 . 3 4 60,676 11,945 5,370 8 .762,600 Security Sub-Total 89 ,865 112,684 22,817 9,880 8 . 76

2,200 REPSOL YPF 8 A 9PND ADR REP 11/25/07 12 .30 27,073 20.59 45,298 18,224 794 1 .751,700 REPSOL YPP S A SPND ADR 12/ 23/02 13 .24 22,524 20.59 35,003 12, 478 613 1 . 751,260 AEPSOL YPF 3 A SPND ADR 01/03/03 13 .35 16,821 20 .59 25,943 9,122 454 1 .755,160 Security Sub-Total 66,419 106, 244 39,824 1,862 1 . 7 5

800 ROLLS ROYCE GRP SPN ADR RYCEY 12 /04/02 10 .06 8,054 20.41 16,331 8,276 520 3 .182,300 ROLLS ROYCE GRP SPN ADS 05 /01/03 7 . 25 16,675 2 0 . 41 46,951 30,276 1,497 3 .183,100 Security Sub -Total 24 ,729 63,282 38,552 2,018 3 .18

1,400 ROYAL CARIBBEAN CRUISES RCL 09/10/02 16 . 53 33,155 44 .25 61 , 950 38,794 717 1 . 1 7

3,200 SOCIETE OENERAI. SPN ADR SCALY 09/10/02 11 . 35 36,320 17 .75 56,816 20,496 1,254 2.201,500 SOCIETE GENERAL SPN ADR 10/30/02 9 . 58 14,380 17 . 75 26,632 12,252 588 7 .2 04,700 Security Sub -Total 50,700 8 3 ,44 9 32,748 1, 84 7 2 .2 0

3,40085 0

4 ,750

4,80080 0

5,600

1,60080 0

2,400

19560562 5

1,425

1,800

SHIRE PHARMECEU GP ADR SHPGYSHIRE PHARMEC6U OP AD R

Security Bub-Total

SAPPI LTD NEW SPND ADS. SPP9APPI LTD NEW SPND ADR

Security Sub-Total

SEVEN ELEVEN JAP LTD ADR SVELYSEVEN ELEVEN JAP LTD ADR

Security Sub-Total

TDK CORP AMERN DEP 8AA TDR

1DR CORP AM2RN DEP SHR

TDR CORP AMERN DEP SHRSecurity Sub-Total

TE:LEFON09 M SA RP L ADR 7TIX

09/10/02 29 . 710 I/03/03 19 .44

09/10/02 1 1 . 33

09 /30 /02 11 . 40

0 9 / 09/03 29 .7 512/01/03 30 .25

03/27/03 3 9 .3 5

03/28/03 38 .99

04/ 07/07 4 0 .60

09/10/02 30 1 3

+ ORV ILLE & RUTH MERILLAT F O UNDA

Page S tatement Period Account No117 of 131 01/31/ 04 TO 02/ 27/04 656.74E13

10 1 ,03616,52 4

117 , 560

54,4189,12 0

63 , 538

47,60024,20071, 8 0 0

7 , 6 7 323,59425 , ]7 556,642

54,24 4

oNoto 1019

30 . 8630 . 8 6

13 . 7013 . 70

3 1 .57

31 . 57

70 . 177 0 . 1 77 0 .17

33 .97

104,92436 , ]3 1

131 ,155

65 ,76010,960

76,7 2 0

50,52125,26075,782

13 , 68 342,452

03 , 8 5 699, 9 9 2

6 1 ,1 4 6

3,8879,70 7

13,596

11,3411,84 0

13,181

2,9211,0603,981

6,00 918,85818,48143,34 8

6,901

1,39223 2

1,624

4672337 0 0

7724124956 8

2 , 044

2 .112 .112 .1 1

.92

.92

. 92

. 56

.5 6

.56

. 5 6

3 .3d

•

TRUST MANAGffiNm ACCOUNT

Statement of Prlnclpal Investments AcQustiuntt ~ow r~ma r~matea unrealrsed r~tim~eed CirDab cost oe t'

t Gain or A nnualQuantity Security Description Symbol Sector Acquired Basis Basis Price Value (Loss) IncomeEquities

5 , 5 0 0 TBC2I77tO2iIC nIDB SPD ADR TTND7 09/30/02 4 .20 23,100 1 6.35 99 , 9 2 4 66, 824 555 . 61

3,'6150 T6f IDiIP 8D ADS T1CP 01/09 /03 16 .7 0 /pc~, b 'p~j 34 .90 130,875 7 ,700 1 . 93X 630 TBCi~iIP 8 P ]1D8 04/03/03 17 . 50 '10,850 34 .90 21,630 10 ,7ne 411 1 .93500 TSCtNIY 8 P ADR 08/09/03 21.41 10 ,70 9 34 .90 17,450 6 ,74 1 337 1 .939

4 0TB CHIiIP 8 ? ADR 09/1 0 /03 23 . 7 6 6 ,57 8 34 .90 8 ,37 6 2,797 163 1 .93

460 TBQIII2P 8 ➢ ADR 09/1 1 /03 23 . 8 5 10 , 9 7 1 34 .90 1 6, 034 4, 083 3 10 1.93

5,5$0 Security Sub _Total I Q0j-133 194,393 3,921 1 . 9 3

I,511 T2LE80DTIG 8A S PAIN AD x TRY 09/10/02 25 .13 3$J 134P 49. 71 74,652

1,200 TOYOTA MOTOR CORP ADR 7H 08/14/03 55.00 6 6 ,000 69 . 13 82,956 16, 9 56 657 .79

2,000 WPP GROUP PLC 8YN71DR NBN WPPGY 09/10/02 35 .73 71,462 5 6.11 112,220 40,757 922 .821 00 HPD GROUP PLC 8P81D8 NEW 11/18/0 1 7 8 .10 3 , 8 2 0 5 6 .11 4 , 6 11 1 ,791 di .82700 WPP GROUP PLC BPNADBNEW 1 1/18 /01 3 8 .70 7 ,640 5 6 . 11 11,222 3 , 589 97 . 822,300 Security Sub-Total 82,922 129,053 46, 1 30 1,0 60 .82

2,100 NOLTERB KLUWR NV 9 PN ADS WTKWY 09/1 0/02 18 .65 3 9 , 165 17.85 37,494 (1,670) 93 1 2 . 501 ,00 0 WOIJlSRB IU.DIPN NV 8PH ADA 12/0 1 /03 15 .0 14,400 1 7 . 85 17,854 1,04 44 6 2 .503 , 100 Security Sub-Total S 4,S65 55,349 784 1,3 85 2 .50

Total Equities

31wa,

040 5,039,7e 7

Total of Lon g Portfolio

+ ORVILLE & RUT H M ERILLAT FOUNDAPepe Stpte me M Period Account No.

11 8 Of 131 01/31/04 TO 02/27104 65&74E13 001014 ,019

1


Sta tement of Principal Inves tmen ts Adjust/ Un it Total Estimated Estimated Unrealized Estimated CurrentData Cost Cost Market Market Gain or Annual Yiel d


Other

1,596 , 827 YORK ACCESS LTD,CLASS D 08/01/02 . 93 1,499 , 999 1 . 31 2,106,534

3,008,252 LGO ACCESS LTD , CLA83 D 08/01/02 . 99 2 ,999 , 999 1 .24 3,759 , 111

(H )

3,082,077 OZF ACCESS LTD , CLA99 D 08 / 0 1/02 . 97 2,999,999 1 .38 4,277,306(A )

1,578,284 CGOPERNEPP ACCESS LTD , 08/01/02 . 95 1 ,499 ,999 1 .05 1 ,671 , 24 4CLASS D (H )

1 , 378 ,401 PAULSON ACCESS LTD, 08 /01/03 1 10 1,521,203 1 .21 1 ,671 , 862CLASS D

3,291 , 900 VEGA ACCESS L1'D ,CLA89 D 07 /30/02 . 91 3 , 000 , 000 1 . 19 3 , 936 ,4 5 4

+ ORVILLE & R UTH MER ILLA T FOUNDA

Page Statement Period Account No.1 28 Of 131 01/31/04 TO 04/27/04 65674E14 001013 1019

} I


Statement of Principal In vestments AcQusf/ U ntt Total Estimated Estimated Unrealized EstImated currentData cost cost Market Market Gain or Annual Yield

Quantity Security Description Symbol Sector Acquired B asis Basis Price Value (Loss) Income %

Other

1 , 665,900 ADVENT ACCESS LTD,CLASS 07/30/02 .90 1,500,000 1.11 11850,961D(H )

Total Oth e r 15 , 071 , 7 0 1 19,273,49 5

Total of Long Portfolio 15, 05 4 , 599 19 , 30 6, 893 18 7 .5 6


Pa e Statement Period Account N o129 of 1 3 1 01/31104 TO 07!27/04 65674 1 4 001013 1019

Y

Orville D . & Ruth A. M eriUat Fo undationFiscal Year Ended February 28, 200 4

Form 990-PF, P art XV,3a : EI N 38-2 476813Contributions Pai d

NOTE THAT A L L G RAN T REC IP IENTS ARE PUBLICLYSUPPORTED CHARITI E S

Recipient N am e

Ad rian CollegeAdrian Community N ursery

Am erican Ca n cer S oci et y

Am erican Red Cross, Len awee Chapt .

Assoc. Ch arities of L en a wee Cou n ty

Beachmont, Inc.B i b le Lite rature Int'l .B illy Graham Ev a ngelis tic. Assoc.

Boys & G irls Cl u b of Lena wee Coun tyBoysville of M I, In cCam pus C rusade for Ch ris tCh aract er Resources of M ICh erry Street Mission M i n istriesCh ild ren's Schol a rship F undCh ristian Fa m ily Foun da tionCh ristian Hel p L in eCl arkston Community ChurchCoral R i d ge M inis tries Media, Inc .Cornerstone S chools Assoc.Da ysprin g Int'l .Dove Heal th Allia n ceE agle Foru m

Em anuel UB Co m mu n ity ChurchEma nuel UB Comm u nity ChurchEng lish L a nguage I nsti tute of Ch i n aEx c ha n ged Li fe M inis tries o f M IFa m ily Outreach MinistriesFe llo ws h i p of Christ ia n Ath le tesFoundat ion for Traditio nal ValuesGe rontology N etworkGoodw ill I ndustries o f SE M IG reat Commissi on M i n is triesGrow M i nist ries, Inc.Harves t Comm u ni ty Chu rch U BHeartbeat Int'l .H ic kman Family Foun dationHOPE Communi ty Cen terHunting ton C oll eg eHun ti ng ton C olleg e

Interva rsity Chr istian Fellows hip/US A

Int'l . Se rvice of H op eJ erusalem U B in Ch rist Ch urchKingdom Bu ilding Ministrie sLenawee County Education FoundationLenaw ee Coun ty Hea lth De pt .Lenawee Emergency Housing Corp .Lenawee United Wa yLenawee Y outh Ce nterLighthouse Inn Progra m , Inc

Addres s

A drian, M IA drian, M IA dria n , M IAdrian, M IAdria n , M IK ingsville, MDCol u mbus, OHC harlotte , N CAd rian, M ICli nton, M IOrlando , FLPerry, OHToledo, OHGrand Rapids, M IAd ria n M IJ ackson, M IC l arks to n , M IFt Lauderdale , FLDetroit , M IVirginia B c h , VAJackson, M IAlto n , I LFort Way n e, INF ort Wayne , I NSan Dimas, CABrig ht on, M IToledo, OHOregon, OHLansing , MIAd rian, M IAd rian , M IWi nter P ark , FLFort W ayne, INToledo, OHColu m bu s, OHAdrian, M IAdria n , M IHu n ti n gton, INHun t in gton , I NM ad ison , W IWat erville , OHChu rchvill e , VA

Denver, COAd r i a n , M IAdri an , M IAdria n , M IAd ria n , M IAd ria n , M IAd rian, M I

Purpose

BuildingsOpns . SupportO pn s . Suppo rtO pns . Sup portOpn s . SupportB uildi n gsO pn s . S up portOpns . Suppo rtO pn s . SupportOpns . S u ppo rtO pns . S up portOpns . SupportOpn s . Sup portOpns . Sup portOpns . S u pp ortOpns . S up p ortBui ldi n gsOpns . SupportO pns . Sup portO pns . Sup portO pns . S upp ortOpns . Supp ortB uil d i ng sOpns . Su pportOpns . SupportOpns . SupportOpns . SupportOpns . Su pportOpns . S upportOp ns . Su pportOpns . Su pportOpns . Su pportOpns . S u pportBu ild i ngsOpns . SupportOpns. SupportOpns SupportO pn s . S up po rtBu ildi n gsOpns . Sup portOpns . SupportOpns. SupportOpns SupportO pns . S upportOpns . S upportOpns . Sup portOpns Su p p ortO pn s . S upp ortO pn s . S upp ort

Amount

25,000500

3,0006,000

12,000

25,00030,0008,000

25,00025,00092,0002,500

10,0005,00 0

2,597,0004,000

100,00085,00070,00025,00012,0003,000

250,00010,00021,00010,0005,000

25,00025,000

1,00035,00037,50035,000

100,000900

5,0004,50 0

1,000,000562,50010,000

5,0005,000

25,000500

5,0005,0005,50 0

30025,000

10

Orville D . & Ruth A . Merillat FoundationF iscal Year Ended F ebruary 28 , 2004

Form 990-PF , Part XV ,3a : EIN 38-2476 81 3

Contributions Pai d

NOTE THA T A L L G RANT R ECI P IE NTS ARE P U BLICLY-SUPPORTED CHAR ITI ES

Reci p ient Nam e

L ivin g Water Work s, Inc .Mack inac Center for Pub lic Policy

Murk Family M inis t ries, I nc.Nationa l Prayer Comm ittee , Inc .

Nat'l . Co mmu nity Resource Cen ter

Nat'l . Rig h t to Life of M I Edu c . Fu nd

Nat'l . Ri ght to Work Leg al Defense F und

New Common S c h ool Founda tionOak Harb or U B i n Ch ris t Church

O v erla nders' Assoc.PEAKE Institute, Inc .Re c overy Li festyles, Inc.

Re s toration of the Fa mily, Inc .Teen Ran c h , Inc .Th e Daily Bread o f L en a wee CountyTh e Intl . Fo u n dationThe Rutherford Ins t itut eThe Sa lvation ArmyUn i ted Breth ren in C h rist

Winebre n ne r Th eological SeminaryWord of L ife Fe llows h i p , In c .World Gos pel Outreach , Inc .World Visio nYM C A of L ena w ee CountyYo uth Bu il d ersYo ut h H aven Ra n ch

Add ress

Adrian, MIMidland, MINew Auburn, WIColorado Springs, CORochester, MNGrand Rapids, MISpringfield, VADetroit, M I

Oak Harbor, OHAdrian, MIAdrian, MIAdrian, MIOviedo, FLMarlette, MIAdrian, MIArlington, VACharlottesville, VAAdrian, MIHuntington, INFindlay, OHSchoon Lake, NYHumble, TXTacoma, WAAdrian, M ISan Juan Capistrano, CARives Jct ., MI

Purpose

Opns . S u pportOpns . SupportOp ns . SupportOpns . SupportOpns . SupportOpns . Supp ortO p ns . SupportO pn s . SupportO p ns . SupportOpn s . SupportOpns . Su p portOpns . S u pportO pns . SupportOpn s . SupportOpns . SupportOpns . Suppo rtO pns . Suppo rtO pns . SupportO pns . S upportBu ild ings

O pn s . SupportOpns . S up portOpns. S uppo rtOp n s. S uppo rtOpn s . Suppo rtOpns . S up port

Amount

12,00040,000

7,00015,00010,00035,00035,000

180,0007,5001,500

75,0006,0008,000

75,0003,000

20,0007,500

17,000100,000900,000

3,50015,00010,000

50010,0006,000

6 , 978 , 200

Election to Treat Qualifying Distribution as Coming From Corpus Pursuant to Code Sec .4942(h)(2) and Reg. §53.4942(a)-3(d)(2 )

The Orv ille D . & Ruth A . Meri llat Foundation1800 Wes t U . S . 223Adrian , MI 4922 1

Identification Number : 38-247681 3

Tax Year End : 2/29/2004

Pursuant to Code Sec . 4942(h)(2) and Reg. §53 .4942(a)-3(d)(2), The Orville D . & Ruth A . MerillatFoundation elects to treat current year qualifying distributions in excess of the immediately preceding taxyear's undistributed income as coming from corpus .

John hurman, Treasurer

Form 8868(December 2000)Dep artment of the TreasuryInte rn al Rev enue Service

Application for Extension of Time To File anExempt Orgah ization Retur n

110, FlI9 a

Name of Exempt Organization

fo r each return .

• If you are filing for an Automatic 3 - Month Extension , complete only Part I and check this box , , , , r ► QX• If you are filing for an Additional (not automatic) 3 -Month Exten sion , complete only Pa rt II (on page 2 of this form) .Note : Do not complete Part II unless you have already been granted an automatic 3 - month extension on a previously filed Form 8868.

Ntt 1 Automatic 3 -Month Extension of Time - Only su bmit original (no copies needed)

Note: Form 990-T corporations re ques ting an au tomatic 6-month extension - check this b ox and comple te Part 1 only ► QAll o ther corporations (ncluding Form 990- C filers) must use Form 7004 to r eques t an ex tension of time t o file income taxre turns . Partnerships, REMICs and trusts mus t use Form 8736 to reques t an extension of time to file Form 1065, 1066, or 1041 .

Type or

prin t

File by thedue date forfiling yourreturn. SeeInstructions.

ORVILLE D . & RUTH A . MERILLAT FOUNDATION

Number, street, and room or suite no . If a P.O . box, see instructions .1800 WEST U .S . 223

copyOMB No. 154 5 . 170 9

Employe r ident ification numbe r

38-247681 3

City, town or post off ice, state, and ZIP code . For a foreign address, see Instructions .ADRIAN, MI 4922 1

Check type of return to be filed (file a separate app licati on for each return ):

Form 990 Q Form 990 -T (c orporation)Q Form 990•BL Q Form 990 -T (sec. 401 (a) or 408 (a) tru s t)0 Form 990-EZ Q Form 990-T (tru st other than abov e)Q Form 990-PF Q Form 1041 -A

Form 4720

0 Form 522 7

Form 6069

Form 8870

• If the organization does not have an office or place of business in the Un it ed States , check this box _ _, . . . . _ _ . . ► Q• If th is is for a Group Retu rn, e n ter the organ izati on 's four di git G rou p Exempt i on N umber (GEM . If this is for the whole group, check thisbox ► = . If it is for part of the group , check this box ► Q and attach a list with the names and EINs of all members the extension will cover .

1 I request an automatic 3-month (6-month, for 990-T corporation) extension of time until OCTOBER 15, 2 0 0 4 ,

to file the exempt organization return for the organization named above . The extension is for the organization's return for :► 0 calendar year o r1 O tax year beginning MAR 1, 2 0 0 3 ,and ending FEB 29, 200 4

2 If this tax year is for less than 12 months, check reason : Q Initial return Q Final return Q Change in accounting period

3a If th is app lication is for Form 990- BL, 990-PF, 990-T, 4720, or 6069 , enter the tentati ve tax, l ess anynonrefundable c redits . Se e i nstr u cti ons . . . . . . . $ 65,000 .

b If th is application is for Form 990-PF or 990-T, enter any refundable c red it s and est i matedtax payments made . In cl ude any p rior ye ar overpayment all owed as a cred it . . . . . ._ . _ . . ., $ 3 0 , 0 0 0 .

c Balance Due. Subtract line 3b from line 3a . Include your payment with this form, or, if required, deposit with FT Dcoupon or, if required, by using EFTPS (Electronic Federal Tax Payment System) . See instructions . . . . _ $ 35,000 .

Signature and Verification

Under penalties of p erju ry, I d eclare th at I h ave exam i ned this for m , in cludi ng accom p an yi ng sche d u les an d sta tem ents, a n d t o th e b es t of my kn owl edge and b elie f ,it i s true , corre c t , a nd com p le te, an d tha t I a m a uth or ize d to p repare t his for m

Q- p. C~ ► 7//2.LHA For Pape rwork Redu c tion Ac t Not ice, see in stru ct ion Fbrm 8868 (12-2000)

32383 105- 01 - 03

14030707 099922 382476813 2003 .05040 ORVILLE D . & RUTH A. MERILL 38247681

R' .nYr

`

Y ~SpFo rm~9 8±2O0O) ~ - - - 9e • Zmp-• If you are filing for an A R(STFnot automatic) 3-Month Extension, complete only Pa rt II and check th i s box , . ~. . . . . . . . . . . . . .

Note : Onlycomplete Part II if you have already been granted an automatic 3-month extension on a previously filed Form 8888 ,

• If you are filing for an Automatic 3 - Month Extension , comp lete only Pa rt I (on page 1) .

Pwt It Addit ional (not automatic) 3-Month Extension of Time - Must file Original and One Copy,Name of ExemptOrganization I Employer identification number,

38-2476813For IRS use only

Q Form 990 Q Form 990-EZ ~ Form 990-T (sec . 401(a) or 408(a) trust) E:]Form 1041 -A Q Form 5227 Form 8870

Q Form 990•BL 0 Form 990-PF ~ Form 990•T (trust other than above) [:1 Form 4720 Q Form 6069

ype o r

prin t . ORVILLE D . & RUTH A . MERILLAT FOUNDATIONFile by th e

extended Nu m ber , str e et , and room or suite no. If a P .O . b ox , see i n st ructio n s .due date for 1 8 Q Q TtM S T U .S . 22 3filing thereturn See C it y, tow n or p ost office, st ate , an d ZIP code. For a forei gn addr ess, see ins tructio ns .InswcUons.

PkDRIAN, MI 4922 1

Check type of return to be filed (Fil e a separate applicatio n for each ret urn) :

STOP: Do not complete Part II if you were not already granted an automatic 3 -month extension on a previously filed Form 8868 .

• If the organ i zation does not have an office or place of business in the United States , check thi s box , . . . . . . . . . . . . . . . . . . . . . . . . . . .► ED

• If th is is for a Group Return,enter the orga ni zation 's four d ig i t Group Exempti o n Nu m ber ( GE M . If th is i s for the whole group , check th i-box ► ~ . If it is for part of the group , chec k this box► ~ an d attach a list w~t~ the n ames a n d EI Ns of all members the exten sion is for .

4 I request an additional 3-month extension of time until 2 0 0 5 .-~~

5 For calendar year , or other tax year beginning MAR 1, 20. 3 and ending FEB 29, 200 4

6 If this tax year is for less than 12 months, check reason: Q Initial return 0 Final return C] Change In accounting peria

7 State In detail why you need the extensio n

ADDITIONAL TIME IS NEEDED TO GATHER THE INFORMATION NECESSARY TO FILE ACOMPLETE AND ACCURATE RETURN .

8a If th is applic at ion is for Form 990• B L, 990-PF, 990•T, 4 720, or 6069 , enter t he t ent ative tax , less anynonref undable credi ts . See ins t ructions . . . . . . . . . . . . . . . .

b If th is applicat ion is for Form 990-PF, 990•T , 4720, or 6 069, ent er a n y refund able credi ts and est i m at edt ax pay m ents made. I n clude any p rior year ove rpayme n t all owed as a credit and any amount paidpreviously with Fo rm 88 6 8 . . . . . . . . . . . . . . . .

c Balance Due. Subtract li n e 8b f ro m line 8a . Include yo ur payment with th is form , o r , if req uired , deposi t wi th FfDcoup on or, if requ ired, by u si ng E FT P S (Electronic Fe deral Tax P aym en t Syst em) . Se e ins t ruct ions . . . .

$ 65,000

$ 65,000

$ C

Signature and VerificationU n d e r penalties of perju ry, I decl are that I h av e exa mine d th is form , including acco mp anyi ng sc h ed u les an d stateme nts, and t o th e b e st of my knowledge and beli ef,it is t rue , c o rrect , and com plete , and that I am a uth orized to pre p are th i s f orm .

5i nature ► K-- Title ► CTA Date ► /0 ! 2~f

Notice to Applicant - To Be Completed by the IRSWe have approved th is app licat ion . P lease at tach t hi s form to the org an izat ion 's retu rn .

=We have not approved this applicat io n . Howeve r , we have g ranted a 1 0-day grac e pe riod from the later of the da2o shown below or the due

dat e of the organ i z at i on 's return (including any prior extensio ns) . This g race per io d is consi der ed to be a vali d ei dertsion of t ime for elect ions

otherwise requi red to be made on a t i mely re t urn . P lease attach th is fo rm to the organi zat ion's retu rn .

D We have not approved th is applicat ion . Aft e r considering the reasons stated i n item 7 , we cannot grant your request for an ext e nsi on of ti me

file . We are not g ranting the 10- day g race period .

We cannot consider th i s applicati o n because it was filed aft er the due date of t h e retu rn for wh ich an exten "'--~ ~eauRSt~_

Q Oth e r

By .Director

Alternate Mailing Address - Enter the add re ss i f you wa n t the cop y of t his applic at i on for an add it i onaldifferent th an the one entered ab ove.

Type.,

NameDELOITTE TAX LLP

Number and street Qnclude suite, room, or apt. no . ) Or a P . O. box number,10,1-N . MAIN ST ., 6TH FLOOR

,province or state, and count ry (Including postal or ZIP code)MI .' 48104-1411 Y ' MO 6489 c,

EXTENSION APPROV,

OCT 2 52004INT

$Mwal,F ~°

T W A N i i v V Lvv .

6 1 W X Form 8868 (12

foy, rsi 2003 - conservative transparency

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