Executive Summary Report
June 30, 2000


Market Values and Historical Performance

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Market Values - As of June 30, 2000


Market Value % of Total Portfolio
Fixed Income
Bear Stearns (Intermediate Govt. Bonds) 19,393,240 55.2%
Total Fixed Income $19,393,240 55.2%
Domestic Equity
Metropolitan Life (Core Equity) $6,870,158 19.5%
Mellon Equity (Mid-Cap Equity) $3,705,366 10.5%
Kayne Anderson (Small Cap Equity) $1,521,238 4.3%
Total Domestic Equity $12,096,762 34.4%
International Equity
Hotchkis and Wiley (International Equity) $3,473,511 9.9%
Total Investment Equity $3,473,511 9.9%
Short-Term Instruments
Savings Account $0 0.0%
Checking Account $184,817 0.5%
Total Cash $184,817 0.5%
Total Portfolio $35,148,330 100.0%


Historical Performance - As of June 30, 2000


Qtr. Rank 1 Yr. Rank 2 Yr.* Rank 3 Yr.* Rank
Total Pension 1.1% --- 7.8% --- 7.6% --- 8.1%. ---
Assumed
Actuarial
Rate of Return 		--- --- 7.3% --- 7.3% --- 7.3%. ---
Custom
Benchmark*** 		-0.5% --- 8.0% --- 8.7% --- 9.5%. ---
Int.
Government
Bear Stearns 1.9% 10th 4.6% 44th 4.5% 32nd --- ---
Benchmark
LB Int. Govt. 		1.8% --- 4.5% --- 4.5% --- 5.8%. ---
Core Equity
Metropolitan
Life 		-2.7% 55th 7.3% 57th 14.6% 44th --- ---
Benchmark
S&P 500 		-2.7% --- 7.4% --- 14.8% --- 19.7%. ---
Mid-Cap Equity
Mellon Equity 1.6% 18th 20.6% 25th 13.3% 51st --- ---
Benchmarks
Wilshire 5000 -4.5% --- 9.5% --- 14.4% --- 19.1%. ---
Russell 2000 -3.8% --- 14.3% --- 7.7% --- 10.6%. ---
International Equity
Hotchkis and Wiley 4.2% 15th 16.1% 58th 10.0% 74th --- ---
Benchmark
MSCIEAFE 		-3.9% --- 17.4% --- 12.6% --- 10.5%. ---

* Annualized
** Wilshire Co-Operative Universes (Fixed Income, Equity, and International Equity).
*** Prior to Dec 31, 1997, LB Int. Govt.. Between Dec. 31, 1997 and Jun. 30, 1998, 10% S&P 500 & 90% LB Int. Govt.. Between Jun. 30,1998 and Mar. 30, 1999, 10% S&P 500, 10% S&P 400, 5% MSCI EAFE, & 75% LB Int. Govt.. After Mar. 30, 1999, 20% S&P 500, 10% S&P 400, 10% MSCI EAFE, & 60% LB Int. Govt. After Dec. 31, 1999, 20% S&P 500, 10% S&P400, 5% Russell 2000, 10% MSCl EAFE, & 55% LB Int. Govt..
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