Research Indicates Efficiency ProducesHigher Revenue per Share Growth

Top Quartile 1 51.7% 10.8%

Quartile 2 57.8 7.5

Quartile 3 62.4 4.3

Bottom Quartile 4 65.0 4.7

Expenses to Revenue

Ratio

(5-year average)

Revenue per Share

Growth

(5-Year CAGR)

Source: Banc of America Securities 12/1/99

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