BENCHMARK PORTFOLIO CHARACTERISTICS AT 12/31/07*

GARP EQUITY

	JE&W	S&P 500
Return on Equity	21.0%	17.9%
Price to Book	3.6x	2.8x
Dividend Long-Term Future Growth Rate	+10%	+7%
Dividend Yield	1.2%	1.9%
Earnings Long-Term Future Growth Rate	+14%	+8%
P/E 2007	17.6x	15.9x

TOP 10 HOLDINGS

L-3 Communications

Danaher Corp.

Conoco-Phillips
United Health Group
Stryker Corp..
Goldman Sachs Group
Microsoft Corp.
Procter Gamble
Praxair, Inc.

Cisco Systems, Inc.

ACTIVE DURATION

INTERMEDIATE ACTIVE DURATION

Duration	5.1
Quality	Aa3
Maturity Distribution
Under 1 Year	4.0%
1-3 Years	10.0%
3-5 Years	24.4%
5-7 Years	4.0%
7-10 Years	53.3%
Over 10 Years	4.3%

Duration Distribution
Under 1 Year	4.0%
1-3 Years	11.6%
3-5 Years	24.7%
5-7 Years	49.1%
7-10 Years	10.6%

Sector Breakdown (FI only, ex-cash)
Governments	38.6%
Treasuries	28.6%
Agencies	10.0%
Corporates	61.4%
Industrial	28.8%
Financial	6.2%
Utilities	8.6%

GNMA Pass-Thru	8.9%
Asset Backed	2.1%
Money Reserve	6.8%

Duration	4.0
Quality	A1
Maturity Distribution
Under 1 Year	5.6%
1-3 Years	16.0%
3-5 Years	44.8%
5-7 Years	2.5%
7-10 Years	27.9%
Over 10 Years	3.1%

Duration Distribution
Under 1 Year	5.6%
1-3 Years	16.0%
3-5 Years	44.8%
5-7 Years	29.7%
7-10 Years	3.9%

Sector Breakdown (FI only, ex cash)
Governments	19.4%
Int'l. Treasury Bonds	3.8%
Treasury Bonds	15.6%
Corporates	80.6%
Industrial	40.6%
Financial	8.0%
Utilities	12.1%

GNMA Pass-Thru	10.9%
Asset-Backed	2.%
Money Reserve	6.2%

*Representative Account