Karon O. Bowdre

LLC #1- Hwy 280, LLC / Real Estate Birmingham, AL — Interest

First Commercial Bank Acct — Interest

American Fund-Fundamental Investors — Int/Div

American Fund-Europacific Growth Fund — Int/Div

Wachovia Bank Deposit Sweep Account — Int/Div

Compass Bank Common Stock — Int/Div — sell

Janus Investment Fund - Small Cap Value Fund — Int/Div

Fundamental Investors — Int/Div

Citibank Smith Bammey Money Fund — Int/Div

Legg Mason Value Trust — Int/Div

Microsoft Common Stock — Int/Div

Walmart Stores Common Stock — Int/Div

Alabama 0% Judicial Bldg Bonds — Interest

Fundamental Inves.Fund (IRA) — Int/Div

New Perspective Fund (IRA) — Int/Div

Small Cap World Fund-IRA — Int/Div

Cap.World Growth&Inc-IRA — Int/Div

Euro Pac Growth-IRA — Int/Div

Invest Co of Amer-IRA — Int/Div

Wash Mut. Inv Fund-IRA — Int/Div

Fidelity Disc Equity-IRA — Int/Div

Bank of America Common Stock — Int/Div

Pioneer Fund Inc — Int/Div — sell

Inv. Co of Amer Fund — Int/Div

Inv. Co. of America Fund — Int/Div — sell

ICOS Common Stock — Int/Div — sell

ALKS Common Stock — Int/Div — sell

Regions Bank Acct — Interest

American New Perspective Fund — Int/Div — sell

401(k)@ The Principal, See Part VIII — Int/Div — buy — Part VIII

Pioneer Mid-Cap Value Fund CI A — Int/Div — sell

Putnam Small Cap Value Fund — Int/Div — sell

Disney Common Stock — Int/Div — sell

Disney Common Stock — Int/Div — sell

Wachovia Bank Deposit Sweep Account — Interest

Columbia Funds, Intl Value Fd Inv. CL A — Int/Div

Wachovia Cash Sweep Acct — Int/Div

Janus Invt. Fd- Small Cap & Value Fund-IRA — Int/Div

T. Rowe Price Mid-Cap Growth Fund-IRA — Int/Div

General Electric Company Common Stock — Int/Div

Nuveen Select Tax Free Income Port 2 SBI — Int/Div

Growth Fund of America-Class A — Int/Div

New England Financial Permanent Life Insurance — Int/Div

New England Financial- Permanent Life Insurance Policy — Int/Div

New England Finan.- Variable Ord.Life Mod to Agg Alloc — Int/Div

Metlife Permanent Life Ins — Int/Div

Van Kampen Equity & Income Fund-Cl B-fka Equity Income — Int/Div

UBS Cash Fund — Interest

T. Rowe Price Mid Cap Growth Fund — Int/Div

Eurapacific Growth Fund — Int/Div

Capital World Growth — Int/Div

Capital World Growth — Int/Div

Intermediate Bond Fund of America — Int/Div — sell

Intermediate Bond Fund of America — Int/Div

LLC #3 - FBN Properties I, LLC; real estate investment — None

Chico's FAS. Inc — Int/Div — sell

Stern Agee Cash Trust Prime Money Market — Interest

Van Kampen Equity & Income Fd C1 A — Int/Div

Pioneer Short Term Inc. Cl A — Int/Div — buy

Pioneer Short Term Inc. CI A — Int/Div — sell

Europacific Growth Fund Cl A — Int/Div

Fundamental Investments Inc. Cl F — Int/Div — buy

Fidelity Funds Cash Reserves — Int/Div

ING - Life Insurance Policy — Int/Div

LLC #4 - IRIS, LLC; real estate investment; Birmingham, AL — Distribution

Citadel Broadcasting — Int/Div

Citadel Broadcasting — Int/Div

Agreement — 2001 — Samford University (Defined Benefit Plan)-vested benefits in plan of former employer

Reimbursement — Pepperdine University

Income — 2007 — Juliette Farms fka Kaybee Saddlebreds (Breed, Train & Show American Saddlebred Horses) — $2,063.00

Spouse's income — 2007 — Self-Employed Law Practice

401(k): American Century Inv. Mgmt. Large Cap Stk Idx Sep Acct, Principal Global Barrow Hanley Med Co. Value Sep Acct, American Century Inv. Mgmt.

Large Cap Value Il SA, Principal Global Investors Diversified Intl Sep Acct and contributions to the Plan and purchases by the Plan to these preselected funds are

made throughout the year.

Lawfiom Capital Contribution s in the aw firm oN AL

Trust III owns a life insurance policy issued by Phoenix Mutual Life Insurance Company and stock issued by Phoenix Mutual.

Trust IV owns a life insurance policy issued by Northwestern Mutual Life Insurance Company.

Partial sales in some holdings did not change year-end category listings.

Dreyfuss Appreciation Fund (Line 11 on 2005 Report) should have been reflected as a "sell" rather than a "partial sell" with C(I) left blank to reflect no value at

the end of the previous reporting period.

A sale of (QD a unknown) by the Company resulted in a distribution to all owners.

Disney Common Stock (Lines 45 & 46) resulted from Disney's stock acquisition of the previously held investment (Pixar Common Stock).

The asset in Line 58 has been owned for many years and inadvertently was omitted from earlier reports.

Capital World Growth purchases in two subaccounts were aggregated in the previous report as a single purchase, but are now segregated on Lines 63 & 64 for

easier tracking.

Line 11 in the 2006 report appears to be an erroneous duplicate and has been deleted in this report.

By virtue of corporate merger, AmSouth Bank Acct (Line 34) became Regions Bank Acct.