Mutual Fund Benchmarks as of November 30, 2002

Index Total Return Average Annual Compound Return
1 mo. 3 mo. 6 mo. 1 yr. 2 yrs. 3 yrs. 5 yrs. 10 yrs.
Note: All Benchmarks are expressed in Canadian Dollars.
Source: Datastream, ScotiaMcLeod, Frank Russell Canada, Morgan Stanley Capital Int'l.
CPI - All Items0.20.51.84.22.42.72.31.8
Canada Savings Bonds Index0.20.40.81.52.83.33.44.2
HANG SENG Total Return Index6.70.7-8.6-11.0-14.3-11.50.97.6
MSCI EAFE ($CDN)4.9-1.2-12.9-12.6-14.8-11.80.16.8
MSCI Emerging Markets Free ($CDN)7.02.0-9.74.6-0.5-7.6-1.64.0
MSCI Europe ($CDN)5.00.3-12.1-13.1-13.7-9.71.411.2
MSCI Japan ($CDN)4.1-7.1-17.2-14.2-21.0-19.1-3.7-0.4
MSCI World ($CDN)5.81.2-10.9-15.3-14.5-11.01.49.4
Mexico IPC (BOLSA) Price Index3.4-2.9-14.4-3.81.5-0.22.03.0
NASDAQ Composite ($CDN)8.812.9-6.2-23.7-23.8-22.20.310.7
NIKKEI 225 Total Return Index6.7-6.9-18.6-13.7-23.9-23.9-8.7-4.3
Nesbitt Burns Cdn Small-Cap Index3.3-1.4-16.74.01.95.31.28.9
Russell 100 Growth Index7.31.2-16.2-25.4-36.3-23.6-8.91.8
Russell 100 Value Index5.0-6.1-16.2-8.00.97.15.112.2
Russell 300 Growth Index6.80.6-16.6-29.4-36.0-23.3-9.21.9
Russell 300 Value Index4.5-0.6-11.71.65.910.06.513.0
S&P 500 Composite ($CDN)6.12.6-10.1-18.2-14.8-10.51.510.2
S&P/TSX Total Return5.3-0.2-13.4-10.0-12.3-3.01.79.2
SCM Universe Bond Total Return Index0.41.55.06.37.88.26.58.9
Salomon World Gov't Bond0.21.211.310.59.16.76.78.3
1-Year Average GIC Index0.20.50.91.62.33.13.44.0
5-Year Average GIC Index0.31.02.03.94.14.64.65.5
91 Day Treasury Bill Index0.20.81.42.43.74.34.44.9