International Equity Performance

Performance as of 6/30/08**

	Three Months	YTD	One Year	Two Years	Annualized Since Inception*
International Equity (Gross of Fees)	-2.36	-13.36	-8.44	8.64	11.87
International Equity (Net of Fees)	-2.57	-13.74	-9.22	7.80	11.06
MSCI EAFE (Gross)	-1.93	-10.58	-10.15	7.04	10.58
S&P ADR	2.35	-7.61	-3.36	11.83	13.54
* Inception Date: October 1, 2005

**Past performance is not indicative of future results. A full performance disclosure is an integral part of this presentation. Returns are presented gross and net of management fees and include the reinvestment of all income. Net of fee performance was calculated using the highest management fee of 0.80% applied monthly. Prior to January 2007, the highest management fee applied to the composite was 0.60%.

ADV, Full Disclosure Presentation, Description of Composites

International Equity Full Description
International Equity Investment Process
International Equity Characteristics
International Equity Performance
International Equity Product Summary
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