Subject: Equity Rebalancing
From: [email-masked]
To: [email-masked]
Cc: [email-masked]
Date: Tue, 27 Nov 2001 16:47:50 -0800 (PST)

If we sell all of the following mutual funds in HM-E0030:
Munder Money Market
Munder Net Net
MFS Emerging Growth
Pimco Growth
Putman Voyager

That should bring available cash for equities to: $190,000

We can open a new managed account with a Large Cap
Value manager (NWQ) and fund it with $100,000

We can add $30,000 to HM-E0069 bringing the account
balance to appx $103,000 and replace the manager with
Newbridge (a different large cap growth)

We can add the remaining $60,000 to HM-E0070 bringing
the account balance to appx $154,000 and replace the
manager with Fayez (a different core manager)

After all the dust settles the accounts should look like:

Fayez (Core S&P) $154,000    43%
Newbridge (Large Cap Growth) $103,000   29%
NWQ (Large Cap Value) $100,000    28%

We will drop the documents of at the front desk
on Wednesday.

Regards,

David L. Shine
Vice President-Investments
UBS PaineWebber
1111 Bagby, Suite 5100
Houston, Texas 77002

(713) 654-0396  Direct
(800) 553-3119  Toll Free
(713) 654-4723  Fax

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