The ELF Report Mid Cap Portfolio 19.11% 27.29%   11/29/02   Recommended Stocks Curr Price Percent Gain/Loss Annualized Gain/Loss Buy Dates @ Avg. Price Notes Projected Sell Date 26 shs. of Biogen Inc (BGEN) on 11/02/02 @ $37.4000 $44.2600 18.34% 247.96% 11/02/02 -- 11/30/02 @ $41.3060 05/03/04 31 shs. of Capital One Financial Corp (COF) on 11/02/02 @ $31.3000 $33.8000 7.99% 107.98% 11/02/02 -- 11/23/02 @ $30.7900 05/03/04 30 shs. of Computer Sciences Corp (CSC) on 11/02/02 @ $32.7800 $34.8900 6.44% 87.02% 11/02/02 -- 11/16/02 @ $31.4300 05/03/04 52 shs. of Synovus Financial Corp (SNV) on 10/19/02 @ $19.2000 $20.8300 8.49% 75.58% 10/19/02 -- 10/19/02 @ $19.2000 04/19/04 39 shs. of American Electric Power Co Inc (AEP) on 10/05/02 @ $25.2700 $28.4200 12.47% 82.72% 10/05/02 -- 11/30/02 @ $24.6678 04/05/04 51 shs. of Analog Devices Inc (ADI) on 10/05/02 @ $19.3100 $30.6900 58.93% 391.10% 10/05/02 -- 10/12/02 @ $21.2750 04/05/04 82 shs. of Electronic Data Systems Inc (EDS) on 10/05/02 @ $12.0600 $18.3500 52.16% 346.13% 10/05/02 -- 11/30/02 @ $14.6338 04/05/04 37 shs. of KLA-Tencor Corp (KLAC) on 10/05/02 @ $26.9200 $44.1700 64.08% 425.25% 10/05/02 -- 10/12/02 @ $28.4500 04/05/04 413 shs. of Sun Microsystems Inc (SUNW) on 10/05/02 @ $2.4200 $4.2900 77.27% 512.81% 10/05/02 -- 10/19/02 @ $2.6700 04/05/04 49 shs. of Transocean Inc (RIG) on 10/05/02 @ $20.3000 $24.3000 19.70% 130.77% 10/05/02 -- 11/30/02 @ $22.5367 04/05/04 26 shs. of St Jude Medical Inc (STJ) on 08/03/02 @ $37.0500 $34.8200 -6.02% -18.62% 08/03/02 -- 09/14/02 @ $37.6600 02/02/04 39 shs. of Linear Technology Corp (LLTC) on 07/27/02 @ $25.1600 $33.2300 32.07% 93.66% 07/27/02 -- 11/09/02 @ $24.8733 01/26/04 74 shs. of El Paso Corp (EP) on 07/20/02 @ $13.3600 $8.5200 -36.23% -100.17% 07/20/02 -- 11/23/02 @ $14.4118 01/19/04 60 shs. of Williams Companies Inc (WMB) on 02/16/02 @ $16.6200 $2.6900 -83.81% -106.97% 02/16/02 -- 06/01/02 @ $16.4450 08/18/03 38 shs. of Equity Residential Properties Trust (EQR) on 02/09/02 @ $26.1000 $26.1200 0.08% 0.10% 02/09/02 -- 02/16/02 @ $26.4000 08/11/03 41 shs. of CVS Corp (CVS) on 11/17/01 @ $24.1600 $26.8800 11.26% 10.90% 11/17/01 -- 11/17/01 @ $24.1600 05/19/03 38 shs. of Amgen Inc (AMGN) on 07/28/01 @ $26.1200 $47.2000 80.70% 60.24% 07/28/01 -- 08/18/01 @ $15.5100 Buy out of IMNX 01/27/03 Top of Page

The ELF Report Mid Cap Portfolio 16.62% 23.73%   11/29/02   Closed Out Positions Sell Price Percent Gain/Loss Annualized Gain/Loss Buy Dates @ Avg. Price Notes Date Sold 38 shs. of 3Com Corp (COMS) on 05/01/99 @ $5.4915 $17.3750 216.40% 144.66% 05/01/99 -- 08/28/99 @ $5.1806 10/28/00 68 shs. of AES Corp (AES) on 10/27/01 @ $14.6400 $10.0100 -31.63% -109.94% 10/27/01 -- 01/12/02 @ $15.7300 02/09/02 56 shs. of Altera Corp (ALTR) on 06/05/99 @ $17.4688 $26.0000 48.84% 32.65% 06/05/99 -- 07/31/99 @ $18.1875 Split 2 for 1 12/02/00 28 shs. of Aon Corp (AOC) on 08/28/99 @ $35.5000 $26.9375 -24.12% -179.67% 08/28/99 -- 10/16/99 @ $32.2375 10/16/99 67 shs. of Autonation Inc (AN) on 01/01/99 @ $14.8750 $11.8125 -20.59% -30.55% 01/01/99 -- 03/27/99 @ $14.3077 Name and ticker change 09/04/99 25 shs. of Bear Stearns Companies Inc (BSC) on 06/24/00 @ $40.0000 $58.0100 45.03% 30.10% 06/24/00 -- 06/24/00 @ $40.0000 12/22/01 48 shs. of Bed Bath & Beyond Inc (BBBY) on 09/09/00 @ $20.5625 $32.7000 59.03% 39.46% 09/09/00 -- 09/15/00 @ $20.9688 03/09/02 18 shs. of Biogen Inc (BGEN) on 12/02/00 @ $53.1875 $39.5400 -25.66% -17.81% 12/02/00 -- 01/26/02 @ $54.6271 05/12/02 47 shs. of BMC Software Inc (BMC) on 03/17/01 @ $21.0000 $16.0000 -23.81% -51.73% 03/17/01 -- 05/26/01 @ $23.8725 09/01/01 25 shs. of Cintas Corp (CTAS) on 04/08/00 @ $38.9375 $39.9900 2.70% 1.81% 04/08/00 -- 05/27/00 @ $39.0156 10/06/01 28 shs. of Clorox Company (CLX) on 12/30/00 @ $35.5000 $41.3500 16.48% 11.02% 12/30/00 -- 03/17/01 @ $34.3027 06/29/02 30 shs. of Computer Sciences Corp (CSC) on 03/17/01 @ $32.7000 $34.9000 6.73% 4.50% 03/17/01 -- 05/19/01 @ $35.1300 09/14/02 57 shs. of Conseco Inc (CNC) on 12/18/99 @ $17.5000 $14.0000 -20.00% -94.81% 12/18/99 -- 02/18/00 @ $16.6875 03/04/00 24 shs. of Crown Cork & Seal Co Inc (CCK) on 08/01/98 @ $41.1250 $28.5625 -30.55% -199.10% 08/01/98 -- 08/22/98 @ $38.4688 09/26/98 29 shs. of Diamond Offshore Drilling Inc (DO) on 03/18/00 @ $34.3125 $26.3500 -23.21% -15.34% 03/18/00 -- 01/20/01 @ $34.8906 09/21/01 65 shs. of Dollar General Corp (DG) on 10/21/00 @ $15.3125 $11.7000 -23.59% -25.18% 10/21/00 -- 05/05/01 @ $15.3021 09/28/01 23 shs. of Donaldson, Lufkin & Jenrette Inc (DLJ) on 06/17/00 @ $43.3125 $90.0000 107.79% 285.10% 06/17/00 -- 07/08/00 @ $42.5938 Bought out by CS, Caution noted on BUY 11/02/00 30 shs. of Federated Department Stores Inc (FD) on 02/26/00 @ $32.5625 $24.3125 -25.34% -62.91% 02/26/00 -- 07/01/00 @ $35.5625 07/22/00 39 shs. of Firstenergy Corp (FE) on 10/28/00 @ $25.1875 $33.0200 31.10% 20.79% 10/28/00 -- 03/24/01 @ $25.6094 04/27/02 34 shs. of Franklin Resources Inc (BEN) on 10/02/99 @ $29.3125 $39.1100 33.42% 22.34% 10/02/99 -- 12/24/99 @ $31.4531 03/31/01 52 shs. of Gateway Inc (GTW) on 12/16/00 @ $19.0000 $14.8600 -21.79% -87.40% 12/16/00 -- 03/03/01 @ $19.3033 03/17/01 64 shs. of Healthsouth Corp (HRC) on 01/16/99 @ $14.5625 $11.6250 -20.17% -175.30% 01/16/99 -- 02/06/99 @ $14.5625 02/27/99 28 shs. of Ingersoll-Rand (IR) on 02/26/00 @ $35.3750 $41.6200 17.65% 11.80% 02/26/00 -- 03/25/00 @ $38.2125 08/25/01 57 shs. of Initimate Brands Inc (IBI) on 08/12/00 @ $17.3750 $13.8800 -20.12% -19.42% 08/12/00 -- 01/06/01 @ $16.3281 08/25/01 32 shs. of Intuit Inc (INTU) on 03/17/01 @ $30.3800 $47.2700 55.60% 37.17% 03/17/01 -- 08/18/01 @ $30.9373 09/14/02 29 shs. of KLA-Tencor Corp (KLAC) on 12/30/00 @ $33.6875 $43.9900 30.58% 20.44% 12/30/00 -- 02/10/01 @ $34.7813 06/29/02 38 shs. of Linear Technology Corp (LLTC) on 03/18/99 @ $25.6250 $63.9375 149.51% 99.58% 03/18/99 -- 03/27/99 @ $50.6563 Split 2 for 1 09/16/00 16 shs. of Magna International Inc Cl A (MGA) on 05/29/99 @ $60.5625 $45.0625 -25.59% -63.55% 05/29/99 -- 07/10/99 @ $60.7083 10/23/99 42 shs. of Masco Corp (MAS) on 12/11/99 @ $23.6250 $18.5000 -21.69% -141.39% 12/11/99 -- 01/29/00 @ $23.3571 02/05/00 42 shs. of Mattel Inc (MAT) on 01/01/99 @ $23.5000 $16.8750 -28.19% -37.55% 01/01/99 -- 06/19/99 @ $23.5156 10/02/99 39 shs. of Micron Technology Inc (MU) on 09/05/98 @ $25.0625 $93.5000 273.07% 182.55% 09/05/98 -- 10/10/98 @ $27.2969 03/04/00 55 shs. of Office Depot Inc (ODP) on 07/24/99 @ $18.1250 $14.3125 -21.03% -219.36% 07/24/99 -- 08/21/99 @ $16.6750 08/28/99 56.36 shs. of Palm Inc (PALM) on 05/01/99 @ $13.9115 $52.4375 276.94% 185.13% 05/01/99 -- 08/28/99 @ $19.4653 Spin Off by COMS 10/28/00 11 shs. of Progressive Corp (PGR) on 10/07/99 @ $88.1250 $70.1875 -20.35% -74.29% 10/07/99 -- 01/08/00 @ $79.2273 01/15/00 22 shs. of Providian Financial Corp (PVN) on 12/16/00 @ $44.9375 $25.7200 -42.76% -58.68% 12/16/00 -- 03/03/01 @ $53.2438 09/08/01 14 shs. of Rambus Inc (RMBS) on 08/12/00 @ $68.8750 $43.4375 -36.93% -120.36% 08/12/00 -- 09/30/00 @ $76.3250 12/02/00 54 shs. of Republic Industries Inc (RII) on 08/29/98 @ $18.2500 $12.8750 -29.45% -255.95% 08/29/98 -- 10/03/98 @ $15.9875 10/10/98 29 shs. of Robert Half International Inc (RHI) on 08/12/00 @ $33.5000 $26.1875 -21.83% -59.90% 08/12/00 -- 11/04/00 @ $31.8229 12/23/00 70 shs. of Selectron Corp (SLR) on 08/25/01 @ $14.1500 $10.1000 -28.62% -386.93% 08/25/01 -- 09/08/01 @ $13.1167 09/21/01 51 shs. of Service Corp International (SRV) on 05/29/99 @ $19.2500 $15.0000 -22.08% -115.12% 05/29/99 -- 06/19/99 @ $19.7188 08/07/99 60 shs. of SouthTrust Corp (SOTR) on 11/04/00 @ $16.1875 $25.1700 55.49% 30.14% 11/04/00 -- 09/08/01 @ $20.1468 Split 2 for 1 09/07/02 78 shs. of Southwest Airlines Co (LUV) on 09/12/98 @ $12.6667 $22.6250 78.62% 39.42% 09/12/98 -- 09/11/99 @ $15.2292 Split 3 for 2 09/09/00 34 shs. of St Paul Companies Inc (SPC) on 07/10/99 @ $29.1250 $22.8750 -21.46% -33.91% 07/10/99 -- 08/14/99 @ $30.9063 02/26/00 82 shs. of Staples Inc (SPLS) on 10/21/00 @ $12.0625 $20.5600 70.45% 47.09% 10/21/00 -- 12/30/00 @ $13.9464 04/20/02 31 shs. of Starbucks Corp (SBUX) on 04/17/99 @ $31.9375 $25.0625 -21.53% -93.54% 04/17/99 -- 04/24/99 @ $31.9688 07/10/99 58 shs. of Tellabs Inc (TLAB) on 07/28/01 @ $17.2200 $13.6900 -20.50% -267.22% 07/28/01 -- 08/18/01 @ $15.4967 08/25/01 33 shs. of Teradyne Inc (TER) on 08/18/01 @ $30.1300 $20.1000 -33.29% -357.37% 08/18/01 -- 09/08/01 @ $30.8100 09/21/01 53 shs. of TJX Companies Inc (TJX) on 06/24/00 @ $18.5625 $38.4000 106.87% 71.44% 06/24/00 -- 09/09/00 @ $18.1354 12/22/01 29 shs. of United Healthcare Corp (UNH) on 08/22/98 @ $34.0625 $51.2500 50.46% 33.30% 08/22/98 -- 02/27/99 @ $42.5810 02/26/00 Top of Page