James Carroll Fox

BB&T CORP COMM — Sale

AMERICAN INTERNATIONAL GROUP INC COMM

AUTOMATIC DATA PROCESSING INC COMM

MEDTRONIC COMM

MICROSOFT CORP COMM

PFIZER COMM — Sale

WACHOVIA CORP COMM

RESERVE PRIMARY FUND M/M

IRA #1 — Int/Div

ABBOTT LABORATORIES COMM

MEDTRONIC COMM

AMERICAN EXPRESS COMPANY COMM

TIME WARNER INC COMM (AOL TIME WARNER INC) — Sell

DELL INC COMM (DELL COMPUTER CORP) — Sell

BANK OF AMERICA (FLEETBOSTON FINANCIAL CORP)

GENERAL ELECTRIC CO COMM

LILLY, ELI & CO COMM — Sale

MICROSOFT CORP COMM

PROCTER & GAMBLE CO COMM (GILLETTE CO. COMM) — Sale

AMERIPRISE FINANCIAL INC COMM — Sell

ROYAL DUTCH PETROLEUM CO COMM

TEXAS INSTRUMENTS INC COMM — Sale

THE CHUBB CORP COMM — Split

WYETH COMM

RESERVE PRIMARY FUND M/M

PEPSICO INC. COMM — Buy

ABN AMRO BANK BOND — Buy

GENL ELECTRIC CAP CORP NOTE — Buy

CITIGROUP GLBL MKTS NOTE — Buy

IBM CORP NOTE — Buy

SCHERING PLOUGH CORP NOTE — Buy

BROKERAGE #1

RESERVE PRIMARY FUND M/M — Int/Div

BROKERAGE #2

RESERVE PRIMARY FUND M/M — Int/Div

EATON VANCE FUND #1 (CAPITAL EXCHANGE FUND #1) — Int/Div

CHESTNUT ST. EXCHANGE FUND #1 — Int/Div — Sale

CHESTNUT ST. EXCHANGE FUND #1 — Sale

FEDERATED CAPITAL APPRECIATION EXCHANGE FUND #1 — Int/Div

VK AMERICAN EXCHANGE FUND #1 — Int/Div

EATON VANCE FUND #2 (CAPITAL EXCHANGE FUND #2) — Int/Div

CHESTNUT ST EXCHANGE FUND #2 — Int/Div — Sale

CHESTNUT ST EXCHANGE FUND #2 — Sale

FEDERATED CAPITAL APPRECIATION EXCHANGE FUND #2 — Int/Div

GALLAHER GROUPPLC #2 COMM — Int/Div

TRUST #1 — Int/Div — A

DUPONT COMM — Sell

GENERALELECTRIC CO COMM

CREE INC COMM — Sell

3M CO COMM

ALLTEL CORP — Sell

DELL INC COMM — Sell

DIAGEO PLC COMM

QUALCOMM INC COMM — Sell

WINDSTREM CORP COMM (SPINOFF ALLTEL) — Spinoff

WINDSTREM CORP COMM (SPINOFF ALLTEL) — Sale

TYCO INTL COMM — Sell

COCA-COLA CO COMM — Sell — E

CVSCORPCOMM

PROCTER & GAMBLE CO COMM

WAL-MART STORES INC COMM — Sell

LOWES CO COMM

PHARMACEUTICAL PROD DEV COMM — Spht

TARGET CORP COMM — Sell

CISCOSYSTEMSINC COMM — Sell

HEWLETT PACKARD CO COMM

INTEL CORP COMM — Sell

MICROSOFT CORP COMM

ORACLE CORP COMM — Sell

WYETH COMM

WYETH COMM — Sell

PFIZER INC COMM — Sell

ABBOTT LABS COMM — Sell

MEDTRONIC INC COMM — Sell

USBANCORPDEL COMM NEW

ZIMMER HOLDINGS INC COMM

FPL GROUP INC COMM — Sell

EXXON MOBIL CORP COMM

AT&TINC COMM (SBC COMMUNICATIONS INC COMM)

BANK AMERICA COMM

HARTFORD FINL SVCS GRP COMM

PRAXAIR INC COMM — BUY

VERIZON COMMUNICATIONS COMM

IDEARC INC COMM (SPINOFF VERIZON COMMUNICATIONS) — Spinoff

COHEN & STEER INSTL RLTY FUND — BUY

EVERGREEN NC MUNICIPAL BOND — BUY

NUVEEN FUNDS HIGH YIELD MUNI BD — BUY

PIMCO EMERGING MARKETS BOND — BUY

WACHOVIA (FIRST UNION) SHORT-TERM INVESTMENT FUND

TRUST #2 — Int/Div — B

GENERAL ELECTRIC COMM

TYCO INTL COMM — Sell

UNITED TECHNOLOGIES CORP COMM

ALTRIA GROUP INC COMM (PHILIP — Sell

MORRIS)

CARNIVAL CORP COMM

LOWES COMM

TARGET CORP COMM — Sell

CISCO SYS COMM

HEWLETT PACKARD COMM

INTEL CORP COMM

IBM CORP COMM

PROCTER & GAMBLE COMM — Addl Shr

3M CO COMM

ALLTEL CORP COMM — Sell

DIAGO PLC COMM — Sell

QUALCOMM INC COMM — Sell

WINDSTREAM CORP COMM (SPINOFF FROM ALLTEL) — Spinoff

WINDSTREAM CORP COMM (SPINOFF FROM ALLTEL) — Sale

WINDSTREAM CORP COMM (SPINOFF FROM ALLTEL) — Sell

MICROSOFT CORP COMM

AMGEN INC COMM — Sell

ABBOTT LABS COMM

MEDTRONIC INC. COMM — Sell

JOHNSON & JOHNSON COMM

PFIZER INC COMM

WYETH COMM

DELL INC COMM — Sell

AT&T COMM (SBC COMMUNICATIONS COMM)

AMERICAN INTL GROUP COMM — Sell

BANK AMERICA CORP COMM

HARTFORD FINANCIAL SERVICES GROUP INC COMM — Sell

JP MORGAN CHASE & CO COMM

WACHOVIA CORP COMM

CREE INC COM — Buy

CREE INC COM — Sell

PRAXAIR INC COMM — BUY

COHEN & STEER INSTL RLTY FUND — BUY

BARCLAYS BANK PLC FUND — BUY

EVERGREEN NC MUNI BOND — BUY

PIMCO EMERGING MARKETS BOND — BUY

WACHOVIA (FIRST UNION) SHORT-TERM INVESTMENT FUND

FOUNDATION #1 — Int/Div — C

WYETH COMM

BB&T CORP COMM

BP AMOCO COMM

DUKE ENERGY CORP NEW COMM (MERGER FR DUKE ENERGY CORP) — Merger

LILLY, ELI & CO COMM

NUVEEN PREF & CONV INCOME MF

PIEDMONT NATUARAL GAS COMM

VERIZON COMMUNICATIONS COMM

IDEARC INC COMM (SPINOFF FR VERIZON COMMUN.) — Spinoff

WACHOVIA CORP COMM

BALTIMORE GAS & ELEC CO BOND — Redemtion

BLOCK FINANCIAL CORP BOND 04/15/07

CONSOLIDATED EDISON BOND 05/01/10

FORD MOTOR CREDIT CORP NOTE 10/28/09

VERIZON MARYLAND BOND

RESERVE PRIMARY FUND M/M

NOTE A - Under the distributive provisions of the Trust # 1, the income of said trust, within the sole and absolute discretion of the corporate trustee thereof, may

be distributed in whole or part to members. The corporate trustee, in its sole discretion, may distribute all or any portion of the corpus of said trust to any one or

more such beneficiaries if necessary to meet the reasonable needs of such beneficiary. James C. Fox was a co-trustee until his resignation and appointment of a

successor trustee on August 16, 2006. James C. Fox has a testamentary limited power of appointment with regard to the corpus of the trust.

NOTE B - Under the distributive provisions of theTrust # 2, the income of said trust, within the sole and absolute discretion of the corporate trustee thereof, may be

distributed in whole or part to members. The class of potential distributees may be increased by the birth of additional members and by future marriage of

members. The corporate trustee, in its sole discretion, may distribute all or any portion of the corpus of said trust to any one or more of such beneficiaries if

necessary to meet the reasonable needs of such beneficiary. James C. Fox was a co-trustee until his resignatioon and appointment of a successor trustee on August

16,2006. James C. Fox has a testamentary limited power of appointment in regard to the corpus of the trust.

NOTE C - James C. Fox is a co-trus

oundation # 1, a trust created and operated exclusively for charitable, religious, scientific and educational purposes.

The assets of the trust approximated

tee i i

t December 31, 2006.

NOTE D - Abbreviations used in the description of assets, Part VII include the following: "COMM" designates common stock; "PREF" designates preferred

stock; "M/M" designates a cash equivalent money market account; "BOND" designates a corporate bond; "MUNI" designates a tax exempt bond; and "MF"

designates a mutual fund.

NOTE E - Coca - Cola Co Comm stock was sold on 10/7/05 for a loss, but the sale was accidentally omitted from the 2005 Disclosure Statement.