Richard R. Clifton

First Hawaiian Bank savings — Interest

First Hawaiian Bank checking — Interest

Hawaii Central Credit Union — Interest

Goodyear common — Int/Div

Hawaiian Electric Industries common — Int/Div

Brokerage acct #1

Echostar Communications common — None

IBM common — Int/Div

Metromedia Fiber Networks common — None

Real Networks common

Ixis Cash Mgtmt Trust — Int/Div

Fidelity Growth & Income (IRA) — Int/Div

Fidelity Magellan Fund (IRA) — Int/Div

Oppenheimer Growth Fund A (IRA) — Int/Div

Brokerage acct #2

Amgen common — None

Applied Materials common — None

Ballard Power Systems common — None

Ciena common — None

Hewlett Packard common — Int/Div

Nokia Corp Spon ADR — Int/Div

Charles Schwab Money Market Fund — Int/Div

Hawaii state bonds — None

26. IRA acct #3

Intel common — Int/Div

Merck common — Int/Div

Microsoft common — Int/Div

Freescale Semiconductor Class B common — Distribution — Spinoff

Motorola common — Int/Div

Jundt Growth Fund Class I — Int/Div

Templeton Growth Fund class A — Int/Div

CREF Stock Fund — None

CREF Global Equities — None

Brokerage acct #4

Boeing common — Int/Div

Hewlett Packard Common — Int/Div

Charles Schwab Money Market Fund — Int/Div

Banc One Group Equity Index Fund A — Int/Div

Brokerage acct #5

Motorola Common — Int/Div

Freescale Semiconductor Class B common — Distribution

Charles Schwab Money Market Fund — Int/Div

Bank One Group Equity Index Fund A — Int/Div

Agence 21, Inc. common — None

MAAS Intek, Inc. common — None

RepNet, Inc — None

HR-10 and 401K accounts — Int/Div

American Funds AMCAP Fund

Oppenheimer Main Street Small Cap Fund

American Funds Investment Co of America (HR-10)

American Funds Wash Mutual Invs (HR-10)

PIMCO Total Return - A (HR-10)

INVESCO Stable Value Fund (HR-10)

Northwestern Mutual whole life — Int/Div

Northwestern Mutual extra ordinary life — Int/Div

Midland National whole life — Int/Div

Trust #1

JP Morgan Municipal Money Market Fund

Cash

Dow Jones US Utilities Index Fund

Russell Midcap Index Fund

S&P 500 Index Fund

S&P 500 Growth Index Fund

Van Kampen Growth & Index Fund ClA

GMAC notes

Cottage Grove, Minn municipal bonds

Jefferson City, Ala municipal bonds

Franklin Tax Free High Yield Income Fund Cl A

JP Morgan Intermediate Bond Fund Select Class

MFS Inter Income Trust

Trust #2

JP Morgan Municipal Money Market Fund

Cash

Dow Jones US Utilities Index Fund

Russell Midcap Index Fund

S&P Smallcap 600 Index Fund

GMAC notes

CIT Group Inc notes

Bank America Corp notes

Protective Life notes

Lakeville Minn School Dist bonds

Phelps-Clifton Springs NY Cent Sch Dist bonds

Hamilton Heights Sch Bldg Corp Ind Ref bonds

Pasco Wash Wir & Swr bonds

Fed Nat Mtg Assn bonds

Franklin Tax Free High Yield Income Fund C1 A

Insured Municipals Income Tr Unit Fund

Insured Municipals Income Tr Unit Fund

MFS Inter Income Tr Fund

Director, American Judicature Society, Hawaii Chapter

Director, Hawaii Public Radio

Director, Hawaii Women's Legal Foundation

Director, Ninth Judicial Circuit Historical Society

Co-trustee, Trust #1

Co-trustee, Trust #2

Agreement — 1.01/01/95 — Cades Schutte Fleming & Wright Partnership Resolutions (including retirement terms, no control)

Spouse's income — 2005 — Self-employed, dietitian consultant

VII. Investments and Trusts

I became a co-trustee of Trust #1 and Trust #2 sometime late last year, together with

esigned as trustees of their trusts. The firstre ort I received was the year-end report.

corre a bank (which actually manages the accounts), when my