Graph

Date		Portfolio Value, UAH		NAV per Share, UAH		NAV Change per Share,%		Fund Index		Quantity		PFTS Index		Relative PFTS Index*
March 20 , 2003		2,500,000.00		10,000.00		0.00		1.000		250		53.33		1.000
April 1 , 2003		2,512,578.63		10,050.31		+0.50		1.005		250		58.42		1.095
May 1 , 2003		2,407,071.81		9,628.29		-3.72		0.963		250		53.80		1.009
June 1 , 2003		2,706,632.97		10,826.53		+8.27		1.083		250		57.07		1.070
July 1 , 2003		3,024,875.89		11,634.14		+16.34		1.163		260		66.33		1.244
August 1 , 2003		3,000,227.99		11,539.34		+15.39		1.154		260		59.68		1.119
September 1 , 2003		2,961,185.08		11,389.17		+13.89		1.139		260		57.12		1.071
October 1 , 2003		3,203,073.82		11,690.05		+16.90		1.169		274		69.17		1.297
November 1 , 2003		4,260,959.53		13,274.02		+32.74		1.327		321		75.38		1.413
December 1 , 2003		4,741,725.72		13,098.69		+30.99		1.310		362		71.01		1.332
January 1 , 2004		5,584,748.27		13,721.74		+37.22		1.372		407		85.43		1.490
February 1 , 2004		5,624,660.85		13,685.31		+36.85		1.369		411		89.30		1.507
March 1 , 2004		7,702,390.99		18,123.27		+81.23		1.812		425		113.13		1.909
April 1 , 2004		9,952,700.85		22,265.55		+122.66		2.227		447		131.77		2.224
May 1 , 2004		13,230,814.41		24,321.35		+143.21		2.432		544		147.65		2.492
June 1 , 2004		13,802,407.15		25,372.07		+153.72		2.537		544		144.79		2.443
July 1 , 2004		12,936,994.17		23,781.24		+137.81		2.378		544		135.66		2.289
August 1 , 2004		13,204,328.64		24,051.60		+140.52		2.405		549		131.61		2.221
September 1 , 2004		12,190,899.57		22,205.65		+122.06		2.221		549		130.79		2.207
October 1 , 2004		12,993,448.32		23,453.88		+134.54		2.345		554		132.69		2.239
November 1 , 2004		15,190,663.29		26,011.41		+160.11		2.601		584		159.75		2.696
December 1 , 2004		16,888,898.39		28,869.91		+188.70		2.887		585		177.19		2.990
January 1 , 2005		24,834,328.67		37,010.92		+270.11		3.701		671		260.13		4.390
February 1 , 2005		33,942,345.08		50,584.72		+405.85		5.058		671		328.56		5.545
March 1 , 2005		40,259,872.41		59,999.81		+500.00		6.000		671		316.35		5.339
April 1 , 2005		37,502,850.82		53,575.50		+435.76		5.358		700		278.48		4.700
May 1 , 2005		41,470,176.36		56,964.53		+469.65		5.696		728		310.00		5.232
June 1 , 2005		41,374,274.76		56,832.80		+468.33		5.683		728		305.70		5.159
July 1 , 2005		40,260,586.21		55,303.00		+453.03		5.530		728		297.09		5.014
August 1 , 2005		42,670,149.41		58,612.84		+486.13		5.861		728		318.18		5.370
September 1 , 2005		48,801,309.75		67,034.77		+570.35		6.703		728		358.11		6.043
October 1 , 2005		48,719,154.25		66,921.92		+569.22		6.692		728		348.77		5.886
November 1 , 2005		48,969,135.07		67,265.30		+572.65		6.727		728		338.20		5.707
December 1 , 2005		51,460,900.36		70,688.05		+606.88		7.069		728		336.85		5.685
January 1 , 2006		52,535,388.57		72,164.00		+621.64		7.216		728		352.97		5.957
February 1 , 2006		55,343,579.04		76,021.40		+660.21		7.602		728		358.80		6.055
March 1 , 2006		59,997,312.02		82,413.89		+724.14		8.241		728		429.28		7.245
April 1 , 2006		58,601,802.56		80,496.98		+704.97		8.050		728		428.29		7.228
May 1 , 2006		59,294,827.17		81,448.94		+714.49		8.145		728		443.46		7.484