David S. Tatel

Chevy Chase Bank — Interest

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

Federal Farm Credit Bank Med Term Note dtd 10/2/98 5% go — Interest — Redeemed

Federal Home Laas: Bagk 5.125% due 9/15/83 — Interest — Red2emed

Prince Georges Cnty MD Cns Pub kmpt MBIA dtd 1/15/94 4 4% — Interess — Redz¢emed

Oklahoma St. Inds Auth Rev Baptist Med Ctr dtd 6/1778 7 — Interest — Redeemed

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

Michigan St Hosp Dearwit Med Ctr dtd 12/1/93 4.8% — Interest

Maryland Hlth & Hghr Edi Fac Auth U. MD Med 1/1/93 5.3% — Interest

Anne Arundel Caty MD Cons Genl Impt did 7115653 49% — Interest — Redeemed

Maryland St Dept Transn Cons Transn Rev dtd 9415/94 5% — Interest

Baltimore Cnty Met Dist 65th Issue did 11/1/93 45% — Interest — Redeemed

MD Swe St & Loc Fac LN First Ser dtd 2/1/93 5.4% — Interest — Redeemed

MD St Tsp Au Spl Oblig BW] Intl Arpt dtd 10/15/94 5.7% — Interest

Saint Petersburg Fla Excise Tax Rev did 10/1/93 48% — Interest — Redeemed

Howard Ce MD Cons Pub Imp Ser A did 7/1/94 82% — Interest — Redeemed

Charles Cnty MD Cons Pub Impt GO dtd 2/15/9 A — Interest

Honoluly Hawaii City & Cnty did 9/1/96 6% — inteicst

Snohomish Caty Wash Pub Hesp Dist dtd 11/1/93 4.9% — Interest — Redeemed

Snohomish Caty Wash Pub Hesp Dist dtd 11/1/93 4.9% — 4715

Snohomish Caty Wash Pub Hesp Dist dtd 11/1/93 4.9% — 1¥/15

A — CL

B — CK

B — K

NASDAQ 100 Trust Ser ) — Int/Div

Poore Brothers, Inc. — None

Archstone-Smith Trust — Int/Div

New Germany Fund — Int/Div

Ishares MSCI Singapore (Free) Index Fund — Int/Div — Purch.

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

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

Western Fin Bk CD 2.85% 10/9/03 — interes — Redeemed

Canada-Gov't 3.3% due 6/1/04 — Interest — Eu

Sec Line 37 — Purch

ISHARES Russell 2800 — Int/Div — Buy

ISHARES S&F Euro3e 350 — Buy

Goid Bank CD 1,6% duc 5/6/04 — Buy

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

ISHARES Lehman 1-3yr Treasury Bend — Int/Div — Buy

See Line 43 — Buy

SeeLinc43 — Buy

Sec Line 43 — Sell

ISHARES MSCI Spain — Buy

TT. Rowe Price New Asia Fund #39 — Buy

Simplified Employee Peosion Plan (SBP-IRA) — Int/Div

Selomon Brokers Fund, luc — Sold

Adams Express Co

intl Bank for Recon & Dey Zero Coupen Ser 2 — Redeemed

SEl Daily Income Prime ®b{ CI B

St. Joe Company

IHARES S&P Europe 350 — Buy

New Zealand Govt, 6.5% due 2/15/05 — Buy

ISHARES MSCI Spain — Buy

Individual Retwrement Account — Int/Div

See Jen. S8 — Interest

SEI Daily Income Prime Obl Ci B

US Treasury Note dtd 1/17/01 due 1/31/03 4.75% — Redeemed

US Treasury Note dtd 3/21/01 due 3/31/03 4.25% — Redeemed

Federal Home Loan Bank due 8/15/03 4.125% — Redeemed

Avalonbay Communities Inc.

Royce Value Trust, Inc. — Purch

See Line 65 — Purch

See Line 65 — Purch.

Adams Express Co.

Aberdeen Australia Equity Fund, Inc

Standard & Poors Midcap 400

Cohen & Sicers Total Return Rzalty Fund, Inc

Franklin Capital Growth Fund

Jshares MSC] Canada Index Fen, Inc — Purch

T. Rowe Price Growth & Income Futid, Inc

T. Rowe Price Equity Income Fund, Inc — Purch

T. Rowe Price Small Cap Stock Fund

T. Rowe Price Intemstienal Stack Fund

Third Avenue Value Fund, Inc

Catellus Development Cotp. — Purch

St. Joe Co

mperia) Oi Ltd.

FHLB 3.125% 11/14/03 — Redeemed

FFCB 3.55% 5725/84

Western Fin Bk CD 2.05% 10/9/03 — Redeemed

T. Rowe Price Growth Stock Fund 1 — Sold

Provident Bk CD 2.4% 11/29/04

Provident Bk CD 2.00% 12/31/43 — Redeemed

Canada Govt. 3.5% due 6/1/04 — Buy

American Century Global Gold Fund — Buy

Health Care Select SPDR — Buy

Health Care Select SPDR — G/4

Health Care Select SPDR — 10/17

Health Care Select SPDR — 11/20

Health Care Select SPDR — 12/31

Rental property, Reppahannock County, YA (8/2/96 i £86,600) — Rent

Director, Camegic Foundation for the Advancement of Teaching

Director, Historical Society for the Disxict of Columbia Circuit

Agreement — FRE SATE FAM NES A NTA

Reimbursement — Carnegie Foundation for the Advancement of Teaching, Menlo Parl. CA — 11/13-14 cabs for me to attend Board Meeting

Reimbursement — New York University School of Law, New York, NY — 10/27 Train fare, cabs, parking, and meals for me (accompanied by my Wl) to deliver the James Madison Lecture.

Reimbursement — Camegie Foundation for the Advancement of Teaching, Menlo Park. CA — 7124-25 - Airfare. tental car, and cabs for my (Ma and me to attend Board Retreat

Reimbursement — Camegie Foundation for the Advancement of Teaching, Menlo Park. CA — 3/20-24 — Airfare and cabs for mys and me to attend Executive Committee meeting

Spouse's income — 2003 — Self-Employed (education consultant)

7 AK Es

AS AFA A RNTL V2 PRS Bi VA VANILLI AASILY JAN AJLAL Abid VA AK ANSL V2

Part ViI-

American Century Global Growth Fund- 6/18 purchased 1,048.218 shares

6/27 purchased 1,105.195 shares

ISHARES Ietman 1-3 yr. Treasury Bond- 9/4 Purchased 600 shares

10717 Purchased 700 shares

10/20 Purchased 600 shares

12/29 Seid 600 shares

-