Mutual Fund Benchmarks as of September 30, 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 Index6.2-0.2-3.920.926.620.111.59.2
Barra Canadian 300 Growth4.30.7-0.914.916.69.51.65.4
Barra Canadian 300 Value3.02.84.822.925.010.711.713.4
CPI - All Items0.0-0.21.01.71.92.12.32.0
Canada Savings Bonds Index0.10.40.81.71.81.72.83.5
Citigroup World Government Bond Index-2.6-2.5-3.90.3-1.22.73.66.2
HANG SENG Total Return Index-1.90.8-0.58.87.41.8-2.42.6
MSCI EAFE ($ Cdn)-1.5-5.9-3.414.711.21.7-3.53.7
MSCI Emerging Markets Free ($ Cdn)1.62.2-5.718.721.417.02.9-0.5
MSCI Europe ($ Cdn)-0.1-4.4-0.118.213.51.7-2.38.8
MSCI Japan ($ Cdn)-6.2-12.6-14.34.22.5-1.8-8.7-4.1
MSCI World ($ Cdn)-2.2-6.6-3.410.18.7-1.3-4.16.6
Mexico IPC (BOLSA) Price Index2.41.7-1.727.217.010.78.91.2
NASDAQ Composite ($ Cdn)-0.9-12.7-8.32.813.60.4-9.98.9
NIKKEI 225 Total Return Index-6.6-14.7-16.00.70.8-1.4-12.6-7.3
S&P 500 Composite ($ Cdn)-3.1-7.9-4.64.74.4-5.0-5.78.5
S&P/TSX Total Return3.71.91.918.920.610.26.29.0
SC Universe Bond Total Return Index0.32.80.74.86.57.27.38.7
1-Year Average GIC Index0.10.30.61.21.51.52.53.3
5-Year Average GIC Index0.20.81.63.03.23.44.14.8
91 Day Treasury Bill Index0.10.50.92.32.62.73.74.4