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06~29/195E 14:19 5032E94145 RS CLEMENTS <br />CH2-Underwritet Comparisons <br />Fe~s - Norm ~ Ad se Mai ts <br /> Prudentia{ <br />unde~uvriti~g 50.00-0.00 <br />take-down 4.48-5.14 <br />management 0.40-0.44 <br />expenses <br />u/w counsel 0.36-d.46 <br />other 0.68-0.~ <br />Tata{ Fees 8~ Exp. $5.90-6.68 <br />u/w counsei capped $10,000 <br />• estlmated, not included tn quoted gro~s discount <br />Salomon Smith Barney <br />$0.40-0.00 <br />4.40•5.65 <br />~ .oo-1.ao <br />0.50-0.50 <br />0.32-0.32 <br />$6:22-7.47 <br />no comment <br />Or~aon Undenn ritina E. aerienc~-Sotomon Smith Barney with Marshall Kneeland <br />Ore~on Retail Pr~sence <br />31 retail brakers <br />~ retafl instit. broker <br />1 office in Po~tland <br />~o Salem office <br />204 retail brokers <br />no info <br />12 offices <br />Salem office <br />PAGE 03 <br />Dain Raucher <br />$0.00-0.00 <br />5.56-6.45 <br />v.3s-o.ss <br />0.45-0.45" <br />0.16-0.16 <br />$6.53-7.42 <br />no camment <br />55 retail brokers <br />no info <br />5 offices <br />Satem office <br /># of Lead Manaae Ores~on O~als slnc~ 1987 <br />7- seniar and co-senior 18 - sole and senlor no Info <br />Page 1 <br />