| Up to 4/30/2008 | ||||||||
| Realized | gross % Rate | # years | Annualized | |||||
| Investment | Buy Price | Date | Sell Price | Date | Gain / Loss | of Return | held | % Return |
| MOVI - Movie Gallery | 4.8125 | 02/21/01 | 30.275 | 08/27/01 | 25.4625 | 529.09 | 0.5 | 3857.55 |
| TRCR - Transcend Services | 3.7 | 01/08/07 | 17.26 | 07/24/07 | 13.56 | 366.49 | 0.5 | 2076.1 |
| MESA - Mesa Air | 6.25 | 12/28/00 | 9.25 | 03/16/01 | 3 | 48 | 0.2 | 610.08 |
| MOVI - Movie Gallery | 4.375 | 08/21/00 | 30.28 | 08/27/01 | 25.905 | 592.11 | 1 | 592.11 |
| FAH - First American Health | 4.375 | 01/18/01 | 9.06 | 06/12/01 | 4.685 | 107.09 | 0.4 | 517.13 |
| FIMG - Fischer Imaging | 4.74 | 04/16/01 | 14 | 11/16/01 | 9.26 | 195.36 | 0.6 | 508.02 |
| LACI - Latin American Casinos | 1.7188 | 10/20/00 | 3.4375 | 03/08/01 | 1.7187 | 99.99 | 0.4 | 465.64 |
| MIND - Mitcham Inds. | 8.5 | 06/28/05 | 22.27 | 02/07/06 | 13.77 | 162 | 0.6 | 397.93 |
| WMAR - West Marine | 6.35 | 05/25/01 | 13.29 | 11/29/01 | 6.94 | 109.29 | 0.5 | 338.03 |
| COTT - Cott Corp. | 7.32 | 12/11/00 | 10.525 | 04/04/01 | 3.205 | 43.78 | 0.3 | 235.51 |
| CN - Calton | 1.25 | 02/04/99 | 4.06236 | 02/10/00 | 2.81236 | 224.99 | 1 | 224.99 |
| SCHR - Scherer Healthcare | 4.47 | 04/23/02 | 8.5 | 11/26/02 | 4.03 | 90.16 | 0.6 | 191.87 |
| SCHR - Scherer Healthcare | 4.47 | 04/23/02 | 8.5 | 12/02/02 | 4.03 | 90.16 | 0.6 | 191.87 |
| MNT - Montedison SPA | 21.25 | 11/02/00 | 26.2464 | 01/08/01 | 4.9964 | 23.51 | 0.2 | 187.44 |
| SPAR - Spartan Motors | 3.95 | 10/03/01 | 11.2 | 10/08/02 | 7.25 | 183.54 | 1 | 183.54 |
| LSCP - Laserscope | 2.583 | 01/08/02 | 22.76 | 02/19/04 | 20.177 | 781.15 | 2.1 | 181.85 |
| EDAP - EDAP tms | 2.1 | 04/16/04 | 16.68 | 04/04/06 | 14.58 | 694.29 | 2 | 181.83 |
| TRC - TRC Co. | 7.125 | 10/28/99 | 28.5 | 03/13/01 | 21.375 | 300 | 1.4 | 169.18 |
| EDAP - EDAP tms | 2.1 | 04/16/04 | 12.5 | 03/16/06 | 10.4 | 495.24 | 1.9 | 155.7 |
| SHOE - Shoe Pavilion | 1.29 | 12/03/03 | 10.11 | 02/08/06 | 8.82 | 683.72 | 2.2 | 154.94 |
| PRGO - Perrigo | 8.125 | 01/04/01 | 15.55 | 08/30/01 | 7.425 | 91.38 | 0.7 | 152.77 |
| TRID - Trident Micro. | 1.72 | 05/27/03 | 10.53 | 06/02/05 | 8.81 | 512.21 | 2 | 147.43 |
| BBSI - Barrett Bus. Serv. | 3.6 | 08/26/03 | 25.35 | 11/16/05 | 21.75 | 604.17 | 2.2 | 142.83 |
| SPAR - Spartan Motors | 4.25 | 08/15/01 | 11.2 | 10/08/02 | 6.95 | 163.53 | 1.1 | 141.31 |
| SHOE - Shoe Pavilion | 1.29 | 12/03/03 | 8.91 | 02/16/06 | 7.62 | 590.7 | 2.2 | 140.71 |
| BPHX - Bluephoenix Solutions | 6.36 | 01/08/07 | 16.3 | 01/31/08 | 9.94 | 156.29 | 1.1 | 135.27 |
| ECOL - American Ecology | 3.5 | 10/09/03 | 16.8 | 10/12/05 | 13.3 | 380 | 2 | 119.09 |
| TCII - TCI International | 9 | 12/08/00 | 11.25 | 04/03/01 | 2.25 | 25 | 0.3 | 110.39 |
| BBA - Bombay Co. | 3.6 | 04/24/02 | 9.4 | 07/30/03 | 5.8 | 161.11 | 1.3 | 109.24 |
| COMS - 3COM | 1.86 | 01/01/95 | 78.42 | 02/23/00 | 76.56 | 4116.13 | 5.1 | 108.26 |
| GSE - Gundle/SLT enviro | 6.3 | 04/23/02 | 17 | 09/29/03 | 10.7 | 169.84 | 1.4 | 103.21 |
| OPTS - Opta Foods | 1.55 | 05/23/02 | 2.5 | 01/16/03 | 0.95 | 61.29 | 0.7 | 97.96 |
| MCRI - Monarch Casino | 6.1 | 10/16/01 | 12.27 | 11/08/02 | 6.17 | 101.15 | 1.1 | 88.77 |
| HITK - Hi-Tech Pharmacal | 5.5 | 04/16/01 | 13.31 | 09/27/02 | 7.81 | 142 | 1.4 | 88 |
| AVM - Advanced Magnetics | 4.5 | 12/10/02 | 34.3 | 04/10/06 | 29.8 | 662.22 | 3.3 | 85.05 |
| COTT - Cott Corp. | 10.2 | 06/06/01 | 14.65 | 01/07/02 | 4.45 | 43.63 | 0.6 | 82.84 |
| WAVT - Wave Tech. | 4 | 12/07/98 | 9.75 | 05/26/00 | 5.75 | 143.75 | 1.5 | 81.12 |
| SEGU - Segue Software | 5.47 | 06/28/05 | 8.67 | 04/20/06 | 3.2 | 58.5 | 0.8 | 77.84 |
| MPET - Magellan Petro Corp. | 1.29 | 10/07/03 | 3.45 | 07/07/05 | 2.16 | 167.44 | 1.8 | 72.72 |
| RH - Rottlund Co. | 4.5 | 11/14/00 | 9.15 | 03/12/02 | 4.65 | 103.33 | 1.3 | 72.62 |
| BYH - Sinopec Beijing | 9.65 | 08/25/03 | 24.32 | 05/17/05 | 14.67 | 152.02 | 1.7 | 72.24 |
| PAET - Paetec | 4.58 | 08/03/06 | 9.8 | 12/17/07 | 5.22 | 113.97 | 1.4 | 72.18 |
| RMCF - Rocky Mountain Choc | 2.14 | 04/16/01 | 22.1 | 07/22/05 | 19.96 | 932.71 | 4.3 | 72.11 |
| FAC - First Acceptance Corp. | 4 | 05/06/04 | 11.78 | 05/11/06 | 7.78 | 194.5 | 2 | 71.61 |
| CLHB - Clean Harbors | 2.5 | 04/10/00 | 8.48 | 08/07/02 | 5.98 | 239.2 | 2.3 | 70.07 |
| WRLD - World Acceptance | 5.5 | 01/02/01 | 7.95 | 09/19/01 | 2.45 | 44.55 | 0.7 | 69.27 |
| PCO - Playcore | 5.375 | 03/01/99 | 10.1 | 05/23/00 | 4.725 | 87.91 | 1.2 | 69.16 |
| ZOLT - Zoltek Co | 4.12 | 04/23/02 | 16.65 | 01/20/05 | 12.53 | 304.13 | 2.7 | 67.74 |
| ASCA - Ameristar Casinos | 4.09375 | 04/10/00 | 7.18 | 05/09/01 | 3.08625 | 75.39 | 1.1 | 66.66 |
| HSR - Hi-Shear Tech. | 2.65 | 12/10/03 | 8.95 | 05/19/06 | 6.3 | 237.74 | 2.4 | 66.05 |
| MGPI - MGP ingredients, Inc. | 6.07 | 11/08/01 | 21.41 | 05/11/04 | 15.34 | 252.72 | 2.5 | 65.57 |
| SYNL - Synalloy | 5.38 | 06/17/03 | 36.96 | 06/26/07 | 31.58 | 586.99 | 4 | 61.9 |
| DECK - Deckers Outdoor | 3.88 | 04/10/00 | 23.43 | 03/15/04 | 19.55 | 503.87 | 3.9 | 58.58 |
| ORBT - Orbit Intl. Corp. | 1.79 | 11/06/01 | 12.94 | 02/08/06 | 11.15 | 622.91 | 4.3 | 58.41 |
| TBCC - TBC Corp. | 6.41 | 02/05/01 | 12.7 | 08/07/02 | 6.29 | 98.13 | 1.5 | 57.75 |
| CSRE - Comshare Inc. | 4.2 | 06/17/03 | 4.6 | 08/28/03 | 0.4 | 9.52 | 0.2 | 57.6 |
| ISRL - Isramco | 6.2 | 12/03/03 | 25.09 | 01/12/07 | 18.89 | 304.68 | 3.1 | 56.98 |
| ICOC - Ico, Inc. | 3.695 | 02/22/06 | 8.7 | 01/22/08 | 5.005 | 135.45 | 1.9 | 56.94 |
| TWH - Transworld Healthcare | 2.78 | 04/16/01 | 5.22 | 09/27/02 | 2.44 | 87.77 | 1.4 | 56.84 |
| CNXS - CNS Inc. | 8.69 | 06/17/03 | 24.35 | 09/22/05 | 15.66 | 180.21 | 2.3 | 56.52 |
| ISLE - Isle Capri Casinos | 5.38 | 04/16/99 | 20.31 | 05/22/02 | 14.93 | 277.51 | 3.1 | 53.5 |
| ORBT - Orbit Intl. Corp. | 1.79 | 11/06/01 | 10.8 | 03/09/06 | 9.01 | 503.35 | 4.3 | 51.89 |
| EGPT - Eagle Point Software | 6.15 | 11/29/01 | 6.4 | 12/31/01 | 0.25 | 4.07 | 0.1 | 48.95 |
| FTHR - Featherlite | 2.07 | 12/03/03 | 6.5 | 10/30/06 | 4.43 | 214.01 | 2.9 | 48.37 |
| HMSY - Health Management Sys. | 2.4 | 12/10/01 | 18.8 | 06/21/07 | 16.4 | 683.33 | 5.5 | 45.39 |
| ODWA - Odwalla | 7.875 | 02/25/00 | 15.25 | 12/11/01 | 7.375 | 93.65 | 1.8 | 44.36 |
| FTHR - Featherlite | 1.47 | 08/06/02 | 6.5 | 10/30/06 | 5.03 | 342.18 | 4.2 | 42.47 |
| FLDR - Flanders Corp. | 2.4 | 01/08/02 | 7.9 | 06/14/05 | 5.5 | 229.17 | 3.4 | 41.96 |
| FTHR - Featherlite | 1.47 | 07/11/02 | 6.5 | 10/30/06 | 5.03 | 342.18 | 4.3 | 41.3 |
| HWD - Hollywood Casinos | 6.25 | 07/10/00 | 8.2 | 05/10/01 | 1.95 | 31.2 | 0.8 | 40.42 |
| MTRX - Matrix Service | 3.03 | 01/18/01 | 24.41 | 04/27/07 | 21.38 | 705.61 | 6.3 | 39.26 |
| WHI - Washington Homes | 6.70732 | 05/10/99 | 12.5 | 04/06/01 | 5.79268 | 86.36 | 1.9 | 38.77 |
| WSTNA - Weston Roy | 4.125 | 10/27/00 | 5.02 | 06/05/01 | 0.895 | 21.7 | 0.6 | 38.72 |
| FTHR - Featherlite | 2.72 | 01/28/04 | 6.5 | 10/30/06 | 3.78 | 138.97 | 2.8 | 36.5 |
| NEXT - Nexthealth | 2.94 | 06/21/00 | 5.1 | 03/26/02 | 2.16 | 73.47 | 1.8 | 35.8 |
| SNDS - Sands Regent | 5.9 | 02/12/04 | 8.49 | 04/28/05 | 2.59 | 43.9 | 1.2 | 35.43 |
| UTMD - Utah Medical | 7.84 | 08/21/00 | 13.7 | 07/24/02 | 5.86 | 74.74 | 1.9 | 34.15 |
| SJT - San Juan Basin | 11.44 | 10/27/00 | 43.69 | 07/07/05 | 32.25 | 281.91 | 4.7 | 32.99 |
| HA - Hawaiian holdings, Inc | 3.2 | 05/07/01 | 7.9 | 09/09/04 | 4.7 | 146.88 | 3.3 | 31.5 |
| ACP - Amer. Real Estate | 8.06 | 04/10/00 | 35.1 | 10/13/05 | 27.04 | 335.48 | 5.5 | 30.67 |
| UTMD - Utah Medical | 9.25 | 01/31/01 | 13.7 | 07/24/02 | 4.45 | 48.11 | 1.5 | 29.93 |
| CMRG - Casual Male Retail Group | 2.95 | 10/03/01 | 9.84 | 05/30/06 | 6.89 | 233.56 | 4.7 | 29.22 |
| FAC - First Acceptance Corp. | 4.28 | 05/23/02 | 11.78 | 05/11/06 | 7.5 | 175.23 | 4 | 28.8 |
| CNTY - Century Casinos | 1.75 | 06/21/00 | 8.91 | 03/19/07 | 7.16 | 409.14 | 6.7 | 27.5 |
| SNDS - Sands Regent | 2.88 | 11/01/00 | 8.49 | 04/28/05 | 5.61 | 194.79 | 4.5 | 27.16 |
| SNDS - Sands Regent | 3.13 | 02/28/01 | 8.49 | 04/28/05 | 5.36 | 171.25 | 4.2 | 26.82 |
| STKL - Sunopta | 3.1 | 04/29/02 | 11.72 | 12/18/07 | 8.62 | 278.06 | 5.6 | 26.81 |
| NATH -Nathan's Famous | 3.55 | 12/04/01 | 14.35 | 01/17/08 | 10.8 | 304.23 | 6.1 | 25.73 |
| JBSS - Sanfilipo John B. & son | 4.69 | 01/23/01 | 6.91 | 10/11/02 | 2.22 | 47.33 | 1.7 | 25.6 |
| AMPH - American Physicians Group | 4.6 | 04/23/02 | 17 | 01/22/08 | 12.4 | 269.57 | 5.8 | 25.28 |
| TNM - Thomas Nelson | 9.25 | 12/04/01 | 20.8 | 06/24/05 | 11.55 | 124.86 | 3.6 | 25.24 |
| CPHJ - Capital Pacific Holdings | 3.25 | 11/02/00 | 11.25 | 06/26/06 | 8 | 246.15 | 5.6 | 24.82 |
| CMRG - Casual Male Retail Group | 3.13 | 05/07/01 | 11.26 | 02/08/07 | 8.13 | 259.74 | 5.8 | 24.7 |
| FRS - Frisch's Restaraunts | 10.88 | 06/21/00 | 17.55 | 09/09/02 | 6.67 | 61.31 | 2.2 | 24.28 |
| MLAB - Mesa Labs | 6.8 | 04/23/02 | 20.6 | 08/14/07 | 13.8 | 202.94 | 5.3 | 23.26 |
| FRS - Frisch's Restaraunts | 13.7 | 06/18/01 | 17.55 | 09/09/02 | 3.85 | 28.1 | 1.2 | 22.92 |
| AKR - Acadia Realty | 7.2 | 06/29/01 | 13.9 | 09/14/04 | 6.7 | 93.06 | 3.2 | 22.82 |
| CNTY - Century Casinos | 3.2 | 03/28/02 | 8.91 | 03/19/07 | 5.71 | 178.44 | 5 | 22.73 |
| JAX - J. Alexanders Corp. | 2.45 | 11/12/01 | 8.7 | 02/01/08 | 6.25 | 255.1 | 6.2 | 22.68 |
| SPAN - Span American Medical | 9.09 | 06/17/03 | 20.56 | 06/07/07 | 11.47 | 126.18 | 4 | 22.64 |
| BEAR - Vermont Teddy Bear | 3.74 | 12/12/02 | 6.5 | 10/04/05 | 2.76 | 73.8 | 2.8 | 21.82 |
| BZ - Bairnco Corp. | 6.8 | 11/04/03 | 13.5 | 04/23/07 | 6.7 | 98.53 | 3.5 | 21.64 |
| WVVI - Williamette Valley | 2.4 | 05/31/01 | 6.07 | 04/03/06 | 3.67 | 152.92 | 4.8 | 21.33 |
| MLAB - Mesa Labs | 5.81 | 10/20/00 | 20.6 | 08/14/07 | 14.79 | 254.56 | 6.8 | 20.46 |
| DV - Devry | 24.9375 | 11/18/98 | 36 | 12/13/00 | 11.0625 | 44.36 | 2.1 | 19.1 |
| COMS - 3COM | 43.75 | 01/01/96 | 78.42 | 02/23/00 | 34.67 | 79.25 | 4.1 | 15.3 |
| SZ - Sizzler International | 3.13 | 02/25/00 | 6.92 | 09/26/05 | 3.79 | 121.09 | 5.6 | 15.22 |
| MESA - Mesa Air | 8.4375 | 04/04/01 | 9 | 09/17/01 | 0.5625 | 6.67 | 0.5 | 13.78 |
| BEAR - Vermont Teddy Bear | 5.29 | 02/13/04 | 6.5 | 10/04/05 | 1.21 | 22.87 | 1.6 | 13.74 |
| KBL - Keebler | 32 | 11/18/98 | 41.1875 | 12/01/00 | 9.1875 | 28.71 | 2 | 13.45 |
| ALOT - Astromed | 5.8 | 04/10/00 | 11.45 | 10/07/05 | 5.65 | 97.41 | 5.5 | 13.16 |
| SPNC - Spectranetics | 4.88 | 10/29/99 | 10.9 | 06/13/06 | 6.02 | 123.36 | 6.6 | 12.95 |
| PCR - Perini Corp. | 10 | 06/29/01 | 14.69 | 09/13/04 | 4.69 | 46.9 | 3.2 | 12.77 |
| COHT - Cohesant Tech. | 4.2 | 03/28/02 | 7.62 | 03/26/07 | 3.42 | 81.43 | 5 | 12.65 |
| FCAL - First California Financial | 5.3 | 06/21/00 | 11.76 | 06/05/07 | 6.46 | 121.89 | 7 | 12.06 |
| FRN - Friendly's Ice Cream | 10.29 | 02/13/04 | 15.5 | 09/06/07 | 5.21 | 50.63 | 3.6 | 12.05 |
| TOPP - Topps Company | 5 | 01/25/99 | 7.95 | 03/07/03 | 2.95 | 59 | 4.1 | 11.98 |
| ECC - ECC Intl. Corp. | 3.56 | 04/10/00 | 5.25 | 09/30/03 | 1.69 | 47.47 | 3.5 | 11.74 |
| SRR - Stride Rite Corp. | 7.25 | 01/18/01 | 14.22 | 04/25/07 | 6.97 | 96.14 | 6.3 | 11.29 |
| ITN - Intertan | 9.08 | 05/10/99 | 14 | 05/13/04 | 4.92 | 54.19 | 5 | 9.05 |
| RAGS - Rag Shops Inc. | 3.35 | 01/10/02 | 4.3 | 11/16/04 | 0.95 | 28.36 | 2.9 | 8.99 |
| TROV - Trover Solutions | 6.6 | 11/10/03 | 7 | 07/16/04 | 0.4 | 6.06 | 0.7 | 8.77 |
| CHRS - Charming Shoppes | 8.3 | 04/30/02 | 11.52 | 05/17/06 | 3.22 | 38.8 | 4 | 8.54 |
| SIZ - Sizeler Property | 8 | 02/25/00 | 9.35 | 07/24/02 | 1.35 | 16.88 | 2.4 | 6.71 |
| SMDI - Sirenza Microdevices, Inc. | 14.45 | 06/28/05 | 16.56 | 11/15/07 | 2.11 | 14.6 | 2.4 | 5.84 |
| SIZ - Sizeler Property | 8.7 | 02/14/01 | 9.35 | 07/24/02 | 0.65 | 7.47 | 1.4 | 5.28 |
| RYOU - Ramsay Youth Serv. | 4.75 | 05/23/02 | 5 | 07/07/03 | 0.25 | 5.26 | 1.1 | 4.77 |
| URS - URS Corp. | 27.81 | 06/10/99 | 35.09 | 07/27/05 | 7.28 | 26.18 | 6.1 | 3.89 |
| APFC - Amer. Pacific Corp. | 7.5 | 10/15/01 | 7.76 | 10/11/02 | 0.26 | 3.47 | 1 | 3.47 |
| VBR - Varsity Brand | 6.88 | 02/04/99 | 6.57 | 09/25/03 | -0.31 | -4.51 | 4.6 | -1 |
| QDIN - Quality Dining | 3.35 | 03/28/02 | 3.2 | 04/14/05 | -0.15 | -4.48 | 3 | -1.52 |
| PRCP - Perceptron | 9.68 | 01/23/07 | 9.38 | 01/14/08 | -0.29 | -3.1 | 1 | -3.1 |
| IOM - Iomed, Inc. | 2.9 | 02/02/06 | 2.75 | 08/16/07 | -0.15 | -5.17 | 1.5 | -3.48 |
| UXP - US exploration | 3.2 | 05/31/01 | 2.82 | 01/30/04 | -0.38 | -11.88 | 2.7 | -4.57 |
| EATS - Eateries, Inc | 3.45 | 06/17/02 | 3.1 | 04/01/04 | -0.35 | -10.14 | 1.8 | -5.77 |
| LFUS - Littlefuse | 23.25 | 11/18/98 | 21 | 10/25/99 | -2.25 | -9.68 | 0.9 | -10.69 |
| MAJ - Micheal Anthony Jew. | 3.15 | 03/28/02 | 2.17 | 01/03/05 | -0.98 | -31.11 | 2.8 | -12.46 |
| TOPP - Topps Company | 10.65 | 06/28/01 | 7.95 | 03/07/03 | -2.7 | -25.35 | 1.7 | -15.8 |
| ITW - Illinois tool works | 63.5 | 11/18/98 | 61.3125 | 01/25/99 | -2.1875 | -3.44 | 0.2 | -16.08 |
| LBI - Liberte investors | 4.362 | 05/23/02 | 3.92 | 10/11/02 | -0.442 | -10.13 | 0.4 | -23.44 |
| IOM - iomega corp. | 21.25 | 06/22/00 | 10.12 | 02/20/03 | -11.13 | -52.38 | 2.7 | -24.02 |
| KAI - Kadant Inc. | 23.55 | 04/16/01 | 14.11 | 02/20/03 | -9.44 | -40.08 | 1.8 | -24.77 |
| CLHB - Clean Harbors | 9.19 | 05/31/02 | 8.48 | 08/07/02 | -0.7099 | -7.73 | 0.2 | -33.1 |
| ALDA - Aldila | 9.94 | 12/07/98 | 1.32 | 02/20/03 | -8.62 | -86.72 | 4.2 | -38.16 |
| PRCP - Perceptron | 12.2 | 09/07/07 | 9.38 | 01/14/08 | -2.82 | -23.11 | 0.4 | -48.17 |
| AHPI - Allied Healthcare | 5 | 03/28/02 | 3.35 | 10/11/02 | -1.65 | -33 | 0.5 | -55.11 |
| THDO - 3DO Co. | 56.5 | 05/10/99 | 1.99 | 02/20/03 | -54.51 | -96.48 | 3.8 | -58.54 |
| PALM - Palm One | 346 | 07/28/00 | 13.61 | 02/20/03 | -332.39 | -96.07 | 2.6 | -71.19 |
| SALD - Fresh Choice | 2.63 | 12/24/02 | 0 | 04/18/06 | -2.63 | -100 | 3.3 | -100 |
| APXTA - Applied Extrusion | 8.13 | 04/10/00 | 0 | 10/24/07 | -8.13 | -100 | 7.5 | -100 |
| Averages | 192.19 | 2.64 | 105.9 |