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<BR>A N N U A L&nbsp;&nbsp;</DIV>
<DIV CLASS=DATE>1 9 9 6&nbsp;&nbsp;</DIV></TD>

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<DIV CLASS=TITLE><BR>&nbsp;&nbsp;R E P O R T</DIV>
<DIV CLASS=DATE>&nbsp;&nbsp;1 9 9 7</DIV>
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<br><br><br>
<img src="/gallery/stylesheets/images/man.gif"><br><br><br><br><br><br>





<span class=captionhead>Company Percentages</span><br>

<img src="/gallery/stylesheets/images/3d.gif"><br>

<!-- ********Description of Chart******** --><DIV CLASS=SMALLSTATEMENT>A clear representation of the value and return represented by a cross section of the year's growth as indicated by the associated value-commodity investment sectors.</DIV>
<br><br><br><br><br><br>

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<DIV CLASS=CAPTIONHEAD>Year to Date<br>
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<TR> <TD  class=tablecolor WIDTH=32%>&nbsp;&nbsp;JAN</TD><TD  class=tablecolor WIDTH=32%>100</TD><TD  class=tablecolor WIDTH=32%>***</TD><TD  class=tablecolor>100</TD>    </TR>
<TR> <TD  >&nbsp;&nbsp;FEB</TD><TD >100</TD><TD >***</TD><TD >110</TD>    </TR>
<TR> <TD  class=tablecolor>&nbsp;&nbsp;MAR</TD><TD  class=tablecolor>100</TD><TD  class=tablecolor>***</TD><TD  class=tablecolor>120</TD>    </TR>
<TR> <TD >&nbsp;&nbsp;APR</TD><TD >100</TD><TD >***</TD><TD >150</TD>    </TR>
<TR> <TD  class=tablecolor>&nbsp;&nbsp;MAY</TD><TD  class=tablecolor>100</TD><TD  class=tablecolor>***</TD><TD  class=tablecolor>210</TD>    </TR>
<TR> <TD>&nbsp;&nbsp;JUN</TD><TD>100</TD><TD>***</TD><TD>275</TD>    </TR>
<TR> <TD  class=tablecolor>&nbsp;&nbsp;JUL</TD><TD  class=tablecolor>100</TD><TD  class=tablecolor>***</TD><TD WIDTH=10% class=tablecolor>310</TD>    </TR>
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<BR>

<!-- ********STATEMENT FROM THE CEO******** -->
<DIV CLASS=STATEMENT>&quot;As a new business in this market sector, we have managed to achieve visibility despite the ubiquitous paradigm shifts&quot;<br><br><br><br><br></DIV>

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<DIV CLASS=COPYHEAD>The Company</DIV>

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<DIV CLASS=COPY> Annual report body copy goes here, describing the incredible success of the company this year and what a great potential it has for future investors. Annual report body copy goes here, describing the incredible success of the company this year and what a great potential it has for future investors. Annual report body copy goes here, describing the incredible success of the company this year and what a great potential it has for future investors.<BR></DIV>

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<DIV CLASS=COPYHEAD>A Year of Achievement</DIV>

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<DIV CLASS=COPY>Annual report body copy goes here, describing the incredible success of the company this year and what a great potential it has for future investors. Annual report body copy goes here, describing the incredible success of the company this year and what a great potential it has for future investors. <BR></DIV>

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<DIV CLASS=COPYHEAD>Financial Highlights</DIV>

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<DIV CLASS=COPY>Annual report body copy goes here, describing the incredible success of the company this year and what a great potential it has for future investors. Annual report body copy goes here, describing the incredible success of the company this year and what a great potential it has for future investors. </DIV>
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<TR><TD><DIV CLASS=credit1><BR><BR>Financial Analysis and Page Layout</DIV>
<DIV CLASS=credit2>by Tim Girvin Design <a href="http://www.girvindesign.com">(www.girvindesign.com)</a><br>&nbsp;</DIV></TD>

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	<DIV CLASS=PAGENUMBER>p a g e&nbsp;&nbsp;<BR>&nbsp;</DIV></TD>
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	<DIV CLASS=PAGENUMBER>&nbsp;&nbsp;o n e</DIV></TD></TR>


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