Conferences

• Monte Tarbox also spoke in October at a Taft-Hartley Roundtable organized by the Investment Management Institute on how to develop an effective governance structure.

Investment Management Network's Asset Allocation Summit:

• Lamont (Monte) Tarbox participated on a panel at the Investment Management Network's Asset Allocation Summit in October in California. Monte was joined on the panel by Mike McCauley, Director of Investment Services at the State Board of Administration of Florida and Peter Freilinger from JPMorgan Securities.

IFEBP Annual Conference in San Diego:

• Edward (Ed) Patchett co-presented a session called "Valuation Forecasts and Asset Liability Modeling" on 11/10 and 11/11.

On July 9, 2003, Jeanna and Steve gave an educational presentation at a hearing of the Ohio Retirement Study Council (ORSC) on "Fiduciary Performance Audits." The Ohio Retirement Study Council was created in 1968 to assist the state legislature, governor and other public officials in the formation of sound public pension policy, and is one of the oldest pension oversight commissions in the country.

Steve also spoke at the Investment Management Institute Greenwich Public Funds Roundtable on June 18-19, 2003 at the Westin Embassy Row Washington, DC. Steve was a luncheon panelist with Lonie Hassle, Partner from the Groom Law Firm, and Steve Fugate, Board Chair, Baltimore Fire and Police Retirement Systems.

Steven Harding spoke at the Educational Forum For Fire & Police Pension Funds on May 16, 2003 at The Hyatt Regency, San Antonio, Texas. Steve spoke on Fiduciary Audits: What, When, Why, and How--- His co-panelists were former IFS clients Eric Henry, Executive Director, New Hampshire Retirement System and Steve Olish, Executive Director, St. Louis Police Retirement System. Mr. Henry and Mr. Olish spoke on their expectations and the results of the Operational Reviews IFS conducted for their Funds.

Edward Patchett spoke at the International Foundation of Employee Benefit Plan's Advanced Trustees Institute in Orlando in February and Lake Tahoe in June. He highlighted the importance of understanding the level of investment risk associated with a fund's asset allocation and presented ways for trustees to manage risk in today's market environment.

Lamont (Monte) Tarbox discussed rebalancing and risk control at the International Foundation of Employee Benefit Plan's Investment Institute in New York at the beginning of May. He reminded trustees and fund professionals of the benefits of a disciplined approach to rebalancing and explained the latest research on rebalancing methods.

A trustee on the District of Columbia Tobacco Settlement Trust Fund, Jeanna also spoke at the Medicine and Law Symposium, hosted by the National Bar Association, on the state of tobacco settlements funds across the country. The symposium was held in Washington, DC on July 19, 2003.

Jeanna also served as facilitator for two trustee "closed-door" educational primer sessions at the 2003 Annual Conference of the National Association of Securities Professionals held in Atlanta, Georgia, June 17-20, 2003. "