Executive Summary Report
June 30, 2000


Marquette Associates
Investment Manager Evaluation Terminology

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The following terminology has been devised by Marquette Associates to facilitate accurate communication between the Investment Manager, Investment Consultant and the Plan Sponsor. Each term signifies a particular status with the Fund and any conditions, which may require improvement. In each case, communication is made only after consultation with the Trustees and/or the Investment Committee of the Plan.


STATUS DESCRIPTION
A. "In Compliance" The investment manager is acting in full compliance with the Investment Policy Guidelines and is performing up to the expectations of the Fund.
B. "Alert" The investment manager is notified of a difficulty in his/her performance (usually related to a benchmark, or volatility measure), change in investment characteristics or management style, or any other irregularities for the purpose of improving performance and investment discipline.
C. "On Notice" The investment manager is notified of a concern with a continued problem in any of the above issues, which if not improved upon over a specific time frame (usually at least 2 quarters) will be cause for termination.
D. "Termination" The Trustees have decided to terminate the manager, a letter has been sent on behalf of the Trustees and transition plans are in place and are being carried out.

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