Walter King Stapleton

Exxon Com. — Int/Div

Baxter Int'l Com. — Int/Div

Conoco Phillips Com — Int/Div

J&J Com. — Int/Div

Marathon Oil Corp. Com. — Int/Div — Buy

Marathon Oil Corp. Com. — Sell

Merck Com — Int/Div

Fed. Home Loan — Interest

Pepsico Com — Int/Div

Kimberly Clark Com. — Int/Div

Southern Co. Com — Int/Div

Allstate Com. — Int/Div

Exxon Mobil — Int/Div

General Electric — Int/Div

Morgan Stanley Com — Int/Div

3M Corp. — Int/Div

SEI Tax Exempt Trust — Int/Div

Allied Cap. Com — Int/Div

Chubb Com. — Int/Div

Cisco Sys. Com. — None

Fulton Finan. Com. — Int/Div — Sell

EMC Corp. Com — None

Emerson Elec. Com. — Int/Div

Teleflex Com. — Int/Div

Del. Co. Pa. Hsg. Auth. Bd — Interest — Sell

Gov. Mifflin Pa. SD — Interest

Perkiomen Valley Pa. SD — Interest

Constellation Energy — Int/Div

Medtronic — Int/Div

Acorn II LP — None

PA St. Bd. — Interest

West View PA Bd — Interest

Clarco Inc — Int/Div

Wrigley Co. Com. — Int/Div

C.D. Wash. Mutual Bk — Interest

West Chester Area Sch. — Interest

Bucks Co. Water & Sewer — Interest

Spring Ford Area Sch. — Interest

Warwick PA Sch. — Interest

IShares HK China — Int/Div

IShares Emerg. Mkts — Int/Div

IShares Malaysia — Int/Div

IShares Singapore — Int/Div

IShares Russell 1000 Gr — Int/Div

Shares S&P Europe — Int/Div

Shares Dow Jones Select — Int/Div

StreetTracks Index (Wilshire International) — Int/Div

Perpetual Fin. Pref. *(determined worthless) — Int/Div — Sell*

Bell South Corp. Com. **(merged with AT&T) — Int/Div — Sell**

Duke Energy — Int/Div

Nuveen Fd. — Int/Div

Buckeye Partners — Interest

Johnson &Johnson Com. — Int/Div

Merck & Co. Com — Int/Div

Real Estate Chester Co. PA (App.Date 4/12/94) — None

Star Bancorp — Int/Div

U.S. Bancorp (formerly Firstar Corp) — Int/Div — Sell

Polymedix — Int/Div — Buy

Fleetwood PA Bd. — Interest — Buy

PA-exempt Mun. Bd. — Interest — Buy

Bucks Co. Water & Sewer — Interest — Buy

South Butler Co. PA Sch. — Interest — Buy

Monroe Co. PA — Interest — Buy

Powershares Exch — Interest — Buy

Discover Finan. Servs *spinoff from Morgan Stanley — Int/Div — Buy*

Phoenixville PA Sch. Bd. — Interest — Buy

CD Eurobank Hato Rey — Interest — Buy

CD Eurobank Hato Rey — Redeemed

IRA — Int/Div

StreetTracks Gold Trust

IShares S&P Mid. Cap

IShares DJ US Util

IShares US Healthcare

Shares FTSE Xinhua

IShares Trust-Dow J Sel. Div

Shares T NASDAQ

IShares Russell 1000 Gwth.

Vanguard Total Market

US. Treas. Note — Redeemed

Plum Creek Timber Co

ML Bank USA RASP (money market)

Powershares Tr. Wilder Hill Clean Energy

CD Western Bank (PR)

IShares MSCI Japan Ind

IShares S&P Europe

IShares S&P Latin. Am.

ING Intemational Real Estate

IShares Singapore — Buy

IShares So. Africa — Buy

IShares Trust DJ US Ind. — Buy

Powershares Exchange — Buy

Sector SPDR Consumers — Buy

SPDR SP Bric 40 — Buy

Retirement Res. CLI (money market) — Deposits

Ches. Co. Country Properties SEP — Int/Div

Alliance Prem. Growth B

Berkshire Hathaway

US Treas. Inflation Note 4/15/10

US Treas. Inflation Note 1/15/15

ML Bank USA RASP (money market)

CD Bank of Baroda NY — Redeemed

CD Doral Bank (PR) — Redeemed

CD Capital One Bank

CD Western Bank — Buy

CD Discover Bank — Buy

CD Western Bank PR — Buy

Fed. Home Loan Bank Bd. — Buy

US Treas. Inflation Note — Buy

T. Rowe Price Sci.&Tech.Fd — None

Kate Partners LP — None

9.5/120th Int..wmm Ptship (App 1/15/98)(Randolph Co. GA) — Rent

Acorn lI LP — Int/Div

Real Estate Hancock Co. ME (2001-$280.000) — Rent

Gen. Elec. Com — Int/Div

SEI Tax Exempt Trust — Int/Div

US Treas. Note 11/15/07 — Interest — Redeemed

US Treas. Note 9/15/08 — Interest

Cadbury Schwepps Com — Int/Div — Sell

Kimberly Clark Com. — Int/Div

Cincinnati Fin. Corp. Com. — Int/Div

St. Paul Travelers Co. Com. — Int/Div

SEI Investments — Int/Div

EMC Corp. Mass. Com. — None

Colgate Palmolive — Int/Div

Medtronics — Int/Div

Alltell — Int/Div — Sell

Duke Realty — Int/Div

IShares MSCI Em. Mark — Int/Div

IShares MSCI Japan — Int/Div

Shares MSCI Pacific Ex — Int/Div

Rayonier, Inc — Int/Div

Stericycle, Inc — None

Clarcor, Inc — Int/Div

Windstream Corp. (*spinoff from Alltell) — Int/Div — Buy*

Fleetwood PA Bd. — Interest — Buy

RPM Intem. Inc — Int/Div — Buy

Polymedix Inc — None — Buy

City Nat. Bank — Int/Div — Buy

Graco Inc — Int/Div — Buy

AT&T Inc — Int/Div — Buy

Spectra Energy Corp. (*spinoff from Duke Ener) — Int/Div — Buy*

Genesee & Wyo. Inc — None — Buy

CMA PA Mun. (money market) — Interest

CD Columbian Bk — Interest — Redeemed

CD One Bk — Interest

Phila. PA Sch. Dist. Bd. — Interest

Blueridge Sch. Dist. Bd. — Interest

Perkiomen Sch. Dist. Bd. — Interest

West Shore Sch. Dist. Bd. — Interest

Warwick PA Sch. Dist. Bd. — Interest

Council Rock Sch. Dist, Bd. — Interest

PA St. First — Interest — Buy

CD Western Bank PR — Interest — Buy

US Treas. Note 1/31/08 — Interest — Buy

US Treas. Note 2/15/08 — Interest — Buy

Indiana Cnty. PA Bd. — None — Buy

Phoenixville PA Sch. Bd. — Interest — Buy

Somerset PA Auth. Bd. — Interest — Buy

Sigma Aldrich — Int/Div

Stericycle — None

Kinder Morgan Energy — Int/Div

CMA PA Municipal (money market) — Interest

CD Columbian Bk — Interest — Redeemed

Phila. Sch. Dist. Bd. — Interest

Blue Ridge Sch. Dist. Bd — Interest

Del. Valley Sch. Dist. Bd. — Interest

Perkiomen Sch. Dist. Bd. — Interest

Chairman - Board of Directors, Buck & Doe Trust, Inc. (non-profit/conservation) -- I have no beneficial interest in the assets of this charitable corporation.

Spouse's income — 2000 — Chester County Country Properties (real estate brokerage firm)

The - partnership owns

timberland in Randolph County, GA. 1 am a general partner. My total interest is 9.5/120th. Partnership income is

derived from hunting leases and the sale of timber.

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