Mutual Fund Benchmarks as of December 31, 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.
CCPI - All Items0.10.71.64.32.52.72.41.8
Canada Savings Bonds Index0.20.50.81.52.73.23.34.2
HANG SENG Total Return Index-6.72.3-8.6-19.1-19.4-15.8-0.97.6
MSCI EAFE ($CDN)-2.56.1-11.1-16.3-16.3-14.5-0.66.6
MSCI Emerging Markets Free ($CDN)-2.59.6-4.3-7.0-1.8-11.5-2.73.6
MSCI Europe ($CDN)-2.810.4-11.1-18.9-16.8-13.00.010.7
MSCI Japan ($CDN)-1.8-6.1-13.8-11.0-18.2-20.7-3.0-0.3
MSCI World ($CDN)-4.07.3-8.4-20.2-15.9-13.80.29.0
Mexico IPC (BOLSA) Price Index-2.84.1-6.4-16.62.3-5.4-0.12.5
NASDAQ Composite ($CDN)-8.913.5-5.1-32.1-24.6-28.9-1.29.4
NIKKEI 225 Total Return Index-3.1-6.6-15.3-11.1-20.6-24.8-7.4-4.1
Nesbitt Burns Cdn Small-Cap Index2.98.0-8.8-0.91.23.21.78.7
S&P 500 Composite ($CDN)-5.27.5-7.5-24.0-16.2-13.10.09.6
S&P/TSX Total Return0.97.5-6.6-12.4-12.5-6.31.39.1
SCM Universe Bond Total Return Index2.12.36.68.78.49.06.98.9
Salomon World Gov't Bond5.94.313.018.311.69.47.99.0
1-Year Average GIC Index0.20.50.91.62.23.03.34.0
5-Year Average GIC Index0.31.02.04.04.14.54.65.5
91 Day Treasury Bill Index0.30.71.52.53.64.24.44.9