Mutual Fund Benchmarks as of February 29, 2004

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.
BMO Nesbitt Burns Cdn Small-Cap Index4.914.429.456.920.417.116.39.1
Barra Canadian 300 Growth2.714.119.936.49.50.84.96.0
Barra Canadian 300 Value3.810.216.036.59.38.112.112.8
CPI - All Items0.00.20.30.52.52.22.41.9
Canada Savings Bonds Index0.10.40.91.91.72.33.03.8
Citigroup World Government Bond Index1.07.88.01.18.16.24.26.7
HANG SENG Total Return Index5.416.323.637.65.4-6.24.52.8
MSCI EAFE ($CDN)3.415.621.239.02.7-3.2-0.84.3
MSCI Emerging Markets Free ($CDN)5.519.924.357.412.59.19.90.9
MSCI Europe ($CDN)3.816.323.741.62.3-2.9-1.39.3
MSCI Japan ($CDN)0.612.012.829.04.0-6.6-1.6-3.5
MSCI World ($CDN)2.813.515.130.7-1.7-4.5-2.07.3
Mexico IPC (BOLSA) Price Index6.524.326.951.51.28.413.41.0
NASDAQ Composite ($CDN)-0.77.08.536.8-0.8-6.2-4.69.8
NIKKEI 225 Total Return Index0.013.110.328.73.4-6.9-5.8-6.3
S&P 500 Composite ($CDN)2.311.89.922.7-7.1-6.9-3.89.3
S&P/TSX Total Return3.212.318.036.59.34.78.69.1
SC Universe Bond Total Return Index1.34.35.89.78.78.27.38.1
1-Year Average GIC Index0.10.30.71.61.71.92.83.6
5-Year Average GIC Index0.20.71.43.03.53.64.35.1
91 Day Treasury Bill Index0.20.71.43.02.83.24.04.6