David S. Tatel

Chevy Chase Bank

SEI Daily Income Prime Obligation Cl. B — Int/Div

Everett Wash Wir & Swr Rev did 8/1/80 8.5% — Interest — Redeemed

Michigan St Hosp Detroit Med Cir dtd 12/1/93 4.8% — Interest — Redeemed

Maryland Hith & Hghr Edl Fac Auth U. MD Med 1/1/93 5.3% — Interest — Redeemed

Maryland St Dept Transn Cons Transn Rev dtd 91594 5% — Interest

MD StTsptn Au Spl Oblig BWI Intl Arpt did 10/15/94 5.79% — Interest — Redeemed

Charles Cnty MD Cons Pub Impt GO dtd 2/15/96 5% — Interest — i - I=

Honolulu Hawaii City & Cnty did 9/1/96 6% — Interest

Starbucks Corp. — None

Standard & Poors Midcap 400 — Int/Div

Federal Realty Investment Tus! — Int/Div

Avalonbay Communities — Int/Div

NASDAQ 100 Trust Ser 1 — None — Sold

Poore Brothers, Inc. — None

St Joe Company — Int/Div

Archstone-Smith Trust — Int/Div

New Germany Fund — Int/Div

shares MSCI Singapore (Free) Index Fund — Int/Div

Calvert Group Tax-Free Money Market Fund — Int/Div

Harford Cnty MD 4.25% 1/15/09 — Interest

Canada-Gov't 3.5% due 6/1/04 — Interest — Redeemed

American Century Global Gold Fund — Int/Div — Pure).

See Item 23 — Purch

ISHARES Russell 2000 — Int/Div

ISHARES S&P Europe 350 — Int/Div

Gold Bank CD 1.6% due 5/6/04 — Interest — Redeemed

New Zealand Govt. 6.5% due 2/15/05 — Interest

ISHARES Lehman 1-3yr Treasury Bond — Int/Div — Sale

ISHARES MSCI Spain — Int/Div

T. Rowe Price New Asia Fund 219 — Int/Div — P ch

iShares Nasdaq Biotech Index — None — Buy

U.S. Treasury Bill due 1/27/05 — None — Buy

U.S. Treasury Bill due 428/05 — None — Buy

Morgen Stanley MTN Var-Cpn due 2/01/11 — aeerent — Buy

UK Treasury 6.75% due 11/26/04 — Interest — Buy

See Item 36 — Redeemed

Simplified Employee Pension Plan (SEP-IRA)

See Item 38 — Interest

Adams Express Co. — Purch

SEI Daily Income Prime Obl CI B

St. Joe Company

ISHARES S&P Europe 350

New Zealand Govt 6.5% due 2/15/05

ISHARES MSCI Spain — Pd

Individual Retirement Account — Int/Div

See Item 46 — Interest

SEl Daily Income Prime Obl C1 B

Avalonbay Communities [nc

Royce Value Trust, Inc

Adams Express Co. — Puwreh

Aberdeen Australia Equity Fund, Inc — Sold

Standard & Poors Midcap 400

Franklin Capital Growth Fund

Franklin Equity Income Fund

Ishares MSCI Canada Index Fund, Inc.

T. Rowe Price Growth & Income Fund, Inc.

T. Rowe Price Equity Income Fund, Inc.

T. Rowe Price Small Cap Stock Fund

T. Rowe Price Intemational Stock Find

Third Avenue Value Fund, Inc.

Catellus Development Corp.

St Joe Co.

Imperial Oil Lid. — Sold

FFCB 3.55% 5/25/04 — Redeemed

Provident Bk CD 2.4% 11/29/04 — Redeemed

Canada Govt. 3.5% due 6/1/04 — Redeemed

American Century Global Gold Fund — Ped

See Item 69 — Purch

Health Care Select SPDR

ISHARES Lehman 1-3 yr. Treasury Bond — Sale

Sece Item 73 — Sale

Beal Bank CD 1.65% due 12/29/04 — Redeemed

New Zealand Govt. 6.5% due 2/15/05

Morgan Stanley MTN Var-Cpn 2/1/11 — Purchase

iShares S&P/Topix 150 Index Fund — Purchase

UK Treasury 6.75% 11/26/04 — Purchase

See Item 79 1 — Redeemed

US. Treasury Bill 826/04 — Purchase

See Item 81 — Redeemed

Weingarten Realty Investors Fund — Purchase

Lehman Bros Bank CD 2.25% 6/2305 — Purchase

U.S. Treasury Bill 1/27/05 — Purchase

U.S. Treasury Bill Z-Cpn 5/26/05 — Purchase

U.S. Treasury Bill 6/30/05 — Purchase

Life Insurance- Massachusetts Mutual Life Insurance — None

Rental property, Rappahannock County, VA (8/2/96 © £86600) — Rent

J). Director, Camegie Foundation for the Advancement of Teaching

Dicect r, Histor cal Society for the District of Columbia Circuit

Reimbursement — Unwvaoty of Califtswia, Gokelcy, CA — 416-20 — Abtwre, meals, rental car. Gis for me (accompamied by (il © PESTER in Gc {aw ich00ly moot cous? program. me EE

Reimbursement — 5 Spencer Foundation, Chicago, IL — 10/27-31 — Airfare, wmcals, taxis for me snd III 0 emend Bre Frank Bixby Leonor and dinner.

Reimbursement — Camegie fumdation for the Advanaoment of Teaching, Menlo Park, CA — 10/89 Airre, botel, meals, taxi for me and [QillJ to attend the Nasional Academy of Education Annus! Meeting,

Reimbursement — Camcgie Faundstion for the Adveoront of Teaching Menlo Posi, CA — 7729-30 — Airfure, rental car, meals, parking for me and [IJ 0 end Executive C mmitice snd Board Meetings. -

Reimbursement — Macsicstey College, St. Paul, MN — 5/14.16 — Airfure, rental car, meals, and cabs for me (aasompanied by SHI} 0 deliver the college's commencement address.

Reimbursement — Conegie Foundaiion for the Agvancomont of Teaching, Menl Pak CA — 3/18.22 — Airfare, botel, meals, and cabs for; {Il and me ® atid Board of Otrectors ineeting,

Spouse's income — 2004 — Scif-Enployed (education eonsultant) ES ———————————————————————————