Large Cap Equity Composite

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Large Cap Growth Strategy
Portfolio Characteristics
as of June 30, 2008

Sector Weightings

Percent of Total

PPCM

S&P 500

S&P 500/ Citigroup Growth

Electronic Technology

Health Technology

Finance

Energy Minerals

Technology Services

Producer Manufacturing

Industrial Services

Transportation

Retail Trade

Communications

Consumer Services

Non-Energy Minerals

Process Industries

Health Services

Utilities

Distribution Services

Consumer Non-Durables

Consumer Durables

Commercial Services

15
13
11
10
9
8
7
6
4
4
3
3
2
2
1
1
1
0
0

10
10
14
12
8
6
4
2
6
3
5
1
2
1
4
1
9
1
1

13
12
5
19
12
5
6
1
6
0
3
2
2
2
1
0
9
1
1

Ten Largest Holdings

CSX Corp

Halliburton Co

Diamond Offshore Drilling

Devon Energy Corp

Gilead Sciences Inc

National Oilwell Varco Inc

Freeport-McMoRan Copper

Encana Corp

Oracle Corp

Thermo Fisher Scientific Inc

Total

1.8 %
1.8 %
1.7 %
1.5 %
1.5 %
1.5 %
1.5 %
1.4 %
1.4 %
1.3 %

15.4 %

Portfolio Characteristics

PPCM Cap Range –

over $10 billion at purchase

PPCM

S&P 500

S&P 500/ Citigroup Growth

Price/Earnings Projected FY2 ¹

11.3

11.7

12.3

Price/Book ¹

2.5

2.4

3.4

FY2 EPS Growth Projected ^{2
3}

16.3%

14.9%

14.7%

Long Term EPS Growth Projected ²

15.3%

13.0%

14.3%

Market Cap ($mm) – weighted avg

$55,136

$90,326

$109,073

Market Cap ($mm) – median

$31,745

$10,718

$12,891

Dividend Yield ²

1.6%

2.2%

1.4%

Number of Issues

500

297

1. Weighted harmonic averages 2. Weighted averages 3. FY2 EPS Growth ratios greater than 100 are capped at 100

Sector Weightings, Ten Largest Holdings and Portfolio Characteristics appear as

supplemental information only and complement the Large Cap Composite presentation.