Mutual Fund Benchmarks as of February 28, 2005

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 Index7.310.925.613.133.217.910.411.9
Barra Canadian 300 Growth5.17.816.77.621.18.9-4.77.4
Barra Canadian 300 Value5.17.116.016.826.311.714.714.8
CPI - All Items-0.1-0.30.41.71.22.32.31.9
Canada Savings Bonds Index0.10.30.71.51.71.72.53.3
Citigroup World Government Bond Index-0.83.81.4-0.60.35.15.65.7
HANG SENG Total Return Index2.54.13.1-6.713.31.2-6.94.1
MSCI EAFE ($ Cdn)3.810.613.49.523.34.9-2.85.3
MSCI Emerging Markets Free ($ Cdn)7.818.226.316.235.313.82.64.4
MSCI Europe ($ Cdn)4.011.116.010.124.84.9-1.89.7
MSCI Japan ($ Cdn)1.18.32.74.316.04.1-8.1-2.4
MSCI World ($ Cdn)2.78.47.83.416.2-0.0-3.97.3
Mexico IPC (BOLSA) Price Index5.519.228.626.138.28.96.015.4
NASDAQ Composite ($ Cdn)-1.01.24.4-7.112.7-2.9-18.08.6
NIKKEI 225 Total Return Index1.39.84.02.114.62.9-12.1-5.6
S&P 500 Composite ($ Cdn)1.36.11.9-3.48.8-5.9-5.68.1
S&P/TSX Total Return5.27.516.412.023.610.22.810.8
SC Universe Bond Total Return Index-0.12.14.35.37.57.57.98.6
1-Year Average GIC Index0.10.40.71.21.41.52.33.1
5-Year Average GIC Index0.20.71.53.03.03.33.84.6
91 Day Treasury Bill Index0.20.61.22.22.62.63.54.2