Mutual Fund Benchmarks as of February 28, 2003

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.
Barra Canadian 300 Growth0.30.9-1.5-12.0-13.4-18.8-2.45.4
Barra Canadian 300 Value-0.3-7.9-18.8-2.918.112.614.911.8
CPI - All Items0.10.61.23.92.72.82.31.8
Canada Savings Bonds Index0.20.50.91.62.53.13.34.1
HANG SENG Total Return Index-4.2-13.9-13.3-19.2-22.5-18.3-3.85.4
MSCI EAFE ($CDN)-5.0-14.0-15.1-24.1-19.2-17.0-5.15.1
MSCI Emerging Markets Free ($CDN)-5.4-10.9-9.2-19.5-9.1-14.7-4.62.6
MSCI Europe ($CDN)-5.9-15.5-15.2-26.0-19.6-16.4-4.99.2
MSCI Japan ($CDN)-2.2-10.6-16.9-16.1-20.5-21.4-6.4-1.5
MSCI World ($CDN)-4.4-13.8-12.8-26.1-18.4-15.4-3.77.8
Mexico IPC (BOLSA) Price Index-4.5-16.0-18.4-32.4-8.3-11.20.02.5
NASDAQ Composite ($CDN)-1.5-14.1-3.0-28.0-22.3-33.6-4.69.0
NIKKEI 225 Total Return Index-1.0-10.6-16.7-17.0-20.8-26.3-11.1-5.2
Nesbitt Burns Cdn Small-Cap Index-1.41.70.2-7.61.2-2.51.07.7
S&P 500 Composite ($CDN)-4.4-14.7-12.4-29.6-18.8-14.2-3.58.5
S&P/TSX Total Return-0.00.30.2-12.5-8.3-9.0-0.08.7
SC Universe Bond Total Return Index0.71.93.47.77.58.26.68.5
Salomon World Gov't Bond-1.42.73.915.68.99.37.08.4
1-Year Average GIC Index0.20.50.91.82.02.93.33.9
5-Year Average GIC Index0.30.91.93.94.04.44.65.4
91 Day Treasury Bill Index0.20.71.42.63.34.14.44.8