The General Board has reviewed the performance benchmark of the Balanced Social Values Plus Fund. The General Board believes that the current benchmark (60% Russell 3000 Index/30% Lehman Mortgaged Backed Securities Index/10% Merrill Lynch 90-day Government Index) is an appropriate benchmark for the fund over the long term.

In the short term, however, the fund's performance can deviate significantly from this benchmark due to the investment style of the equity manager. The equity manager, Brown Capital Management, invests in companies that it perceives to be undervalued relative to their growth potential. This investment style is considered to be growth investing. A more appropriate benchmark for the fund would incorporate the growth style of the equity manager.

Thus, the General Board will begin applying a second benchmark for the BSVP fund composed as follows: 60% Russell 3000 Growth/30% Lehman Mortgaged Backed Securities Index/10% Merrill Lynch 90-day Government Index. This benchmark will allow participants to track more accurately the fund's performance over short periods. This second benchmark will be available on the General Board's Web site, with performance updated quarterly.

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