| MARKET VALUE | |||||||||
| COUPON | PURCHASE | MATURITY | FACE | MARKET | |||||
| ISSUER | RATE | YIELD | DATE | DATE | COST | VALUE | VALUE | ||
| 12/31/2002 | |||||||||
| TORONTO | 8.63 | 6.48 | 31-Mar-00 | 4-Mar-03 | 2,110,600.00 | 2,000,000.00 | 2,019,000.00 | ||
| EDC | 5.45 | 3.39 | 17-Jul-02 | 24-Mar-03 | 4,056,000.00 | 4,000,000.00 | 4,016,400.00 | ||
| EDC | 5.45 | 3.25 | 17-Jul-02 | 24-Mar-03 | 3,045,000.00 | 3,000,000.00 | 3,012,300.00 | ||
| ONT | 6.15 | 3.11 | 9-Oct-02 | 1-Apr-03 | 5,072,000.00 | 5,000,000.00 | 5,030,950.00 | ||
| YORK | 6.38 | 6.30 | 27-Mar-00 | 19-Jun-03 | 3,015,000.00 | 3,000,000.00 | 3,047,250.00 | ||
| ONT | 5.00 | 5.00 | 21-Jun-02 | 21-Jun-03 | 500,000.00 | 500,000.00 | 564,730.00 | ||
| FARM CREDIT | 3.55 | 3.58 | 7-Oct-02 | 7-Oct-03 | 1,000,000.00 | 1,000,000.00 | 997,900.00 | ||
| TORONTO | 3.05 | 3.12 | 29-Nov-02 | 29-Nov-03 | 999,510.00 | 1,000,000.00 | 1,000,890.00 | ||
| ONT | 4.14 | 4.14 | 1-Mar-02 | 1-Mar-04 | 1,000,000.00 | 1,000,000.00 | 1,005,570.00 | ||
| ONT | 4.80 | 4.86 | 3-Apr-02 | 3-Apr-04 | 1,000,000.00 | 1,000,000.00 | 1,015,650.00 | ||
| ONT | 4.50 | 3.66 | 4-Oct-02 | 15-May-04 | 2,034,000.00 | 2,000,000.00 | 2,024,000.00 | ||
| ONT | 4.20 | 3.55 | 4-Oct-02 | 4-Jun-04 | 1,331,970.80 | 1,318,000.00 | 1,328,939.40 | ||
| FARM CREDIT | 5.25 | 6.39 | 27-Mar-00 | 7-Jun-04 | 1,918,000.00 | 2,000,000.00 | 2,059,400.00 | ||
| ONT | 4.10 | 4.14 | 4-Nov-02 | 4-Nov-04 | 1,000,000.00 | 1,000,000.00 | 1,009,360.00 | ||
| FARM CREDIT | 4.15 | 4.27 | 26-Nov-02 | 26-Nov-04 | 1,492,500.00 | 1,500,000.00 | 1,481,550.00 | ||
| CMHC | 5.75 | 6.33 | 8-Mar-00 | 1-Dec-04 | 976,570.00 | 1,000,000.00 | 1,047,660.00 | ||
| CMHC | 5.75 | 6.33 | 8-Mar-00 | 1-Dec-04 | 976,570.00 | 1,000,000.00 | 1,571,490.00 | ||
| CMHC | 5.75 | 6.32 | 8-Mar-00 | 1-Dec-04 | 1,465,200.00 | 1,500,000.00 | 1,047,660.00 | ||
| ONT | 6.25 | 6.75 | 16-May-00 | 8-Mar-05 | 984,080.00 | 1,000,000.00 | 1,061,330.00 | ||
| ONT | 6.25 | 6.13 | 1-Nov-00 | 8-Mar-05 | 3,022,800.00 | 3,000,000.00 | 3,183,990.00 | ||
| ONT | 4.50 | 4.57 | 21-Jun-02 | 21-Jun-05 | 500,000.00 | 500,000.00 | 518,265.00 | ||
| ONT | 4.50 | 4.57 | 24-Jun-02 | 21-Jun-05 | 1,500,000.00 | 1,500,000.00 | 1,554,795.00 | ||
| ONT | 7.25 | 5.41 | 1-Mar-01 | 27-Sep-05 | 3,217,200.00 | 3,000,000.00 | 3,273,900.00 | ||
| CMHC | 6.25 | 5.57 | 31-Jan-01 | 1-Dec-05 | 1,031,310.00 | 1,000,000.00 | 1,074,040.00 | ||
| CMHC | 6.25 | 5.57 | 31-Jan-01 | 1-Dec-05 | 773,482.00 | 750,000.00 | 805,530.00 | ||
| ONT | 5.40 | 5.47 | 22-Feb-01 | 1-Dec-05 | 1,677,672.00 | 1,500,000.00 | 1,611,060.00 | ||
| ONT | 5.90 | 5.65 | 3-May-01 | 8-Mar-06 | 2,027,200.00 | 2,000,000.00 | 2,131,680.00 | ||
| ONT | 5.90 | 5.72 | 16-May-01 | 8-Mar-06 | 2,021,800.00 | 2,000,000.00 | 2,131,680.00 | ||
| ONT | 5.50 | 4.25 | 30-Sep-02 | 21-Jun-06 | 2,503,228.00 | 2,366,000.00 | 2,493,787.66 | ||
| ONT | 7.75 | 5.64 | 15-May-01 | 24-Jul-06 | 2,195,000.00 | 2,000,000.00 | 2,260,100.00 | ||
| ONT | 7.75 | 5.95 | 28-May-01 | 24-Jul-06 | 2,707,500.00 | 2,500,000.00 | 2,825,125.00 | ||
| GOV CAN | 7.00 | 5.55 | 7-May-01 | 1-Dec-06 | 3,217,200.00 | 3,000,000.00 | 3,327,660.00 | ||
| CMHC | 5.25 | 5.95 | 28-May-01 | 1-Dec-06 | 2,429,500.00 | 2,500,000.00 | 2,624,000.00 | ||
| GOV CAN | 7.25 | 5.24 | 31-Aug-01 | 1-Jun-07 | 5,511,000.00 | 5,000,000.00 | 5,633,250.00 | ||
| ONT | 5.13 | 5.53 | 2-May-02 | 31-Dec-07 | 1,470,630.00 | 1,500,000.00 | 1,549,395.00 | ||
| ONT | 6.20 | 5.02 | 26-Nov-02 | 19-Nov-09 | 2,145,000.00 | 2,000,000.00 | 2,165,600.00 | ||
| SERIALS | BC | 4.90 | 27-Mar-02 | 21-Jun-04 | 1,681,992.00 | 1,872,000.00 | 1,790,156.16 | ||
| BA | CIBC | 2.75 | 2-Dec-02 | 3-Jan-03 | 3,990,360.00 | 4,000,000.00 | 3,999,096.25 | ||
| BA | TD | 2.90 | 8-Oct-02 | 8-Jan-03 | 1,489,110.00 | 1,500,000.00 | 1,499,053.04 | ||
| BA | BNS | 2.76 | 12-Dec-02 | 9-Jan-03 | 5,987,340.00 | 6,000,000.00 | 5,995,930.71 | ||
| BA | TD | 2.76 | 13-Dec-02 | 17-Jan-03 | 1,496,040.00 | 1,500,000.00 | 1,498,076.57 | ||
| BA | TD | 2.77 | 16-Dec-02 | 17-Jan-03 | 4,987,900.00 | 5,000,000.00 | 4,993,571.88 | ||
| BA | CIBC | 2.76 | 17-Dec-02 | 21-Jan-03 | 4,986,800.00 | 5,000,000.00 | 4,992,080.00 | ||
| BA | RBC | 2.78 | 22-Nov-02 | 23-Jan-03 | 9,953,000.00 | 10,000,000.00 | 9,982,564.52 | ||
| BA | TD | 2.76 | 24-Dec-02 | 23-Jan-03 | 12,969,580.00 | 13,000,000.00 | 12,976,678.00 | ||
| BA | CIBC | 2.76 | 30-Dec-02 | 27-Jan-03 | 1,780,510.00 | 1,784,274.82 | 1,780,644.46 | ||
| BA | HONGKONG | 2.83 | 1-Nov-02 | 30-Jan-03 | 3,972,280.00 | 4,000,000.00 | 3,990,760.00 | ||
| BA | HONGKONG | 2.84 | 22-Nov-02 | 17-Feb-03 | 9,932,800.00 | 10,000,000.00 | 9,962,924.14 | ||
| BDN | HONGKONG | 2.81 | 20-Dec-02 | 18-Feb-03 | 13,935,600.00 | 14,000,000.00 | 13,947,406.67 | ||
| BA | TD | 3.02 | 12-Mar-02 | 11-Mar-03 | 3,883,040.00 | 4,000,000.00 | 3,977,507.69 | ||
| BA | TD | 3.08 | 13-Mar-02 | 11-Mar-03 | 3,881,120.00 | 4,000,000.00 | 3,977,075.48 | ||
| BA | CIBC | 2.81 | 16-Dec-02 | 17-Mar-03 | 5,958,240.00 | 6,000,000.00 | 5,965,123.52 | ||
| BA | TD | 2.90 | 8-Oct-02 | 8-Jan-03 | 2,481,850.00 | 2,500,000.00 | 2,498,421.74 | ||
| BA | BNS | 2.76 | 12-Dec-02 | 9-Jan-03 | 3,991,560.00 | 4,000,000.00 | 3,997,287.14 | ||
| BA | GOV CAN | 2.78 | 10-Oct-02 | 16-Jan-03 | 14,888,850.00 | 15,000,000.00 | 14,981,853.06 | ||
| BA | TD | 2.76 | 13-Dec-02 | 17-Jan-03 | 4,488,120.00 | 4,500,000.00 | 4,494,229.71 | ||
| BA | CIBC | 2.76 | 30-Dec-02 | 27-Jan-03 | 7,200,500.00 | 7,215,725.18 | 7,201,043.76 | ||
| BA | CIBC | 2.80 | 18-Nov-02 | 7-Feb-03 | 8,944,380.00 | 9,000,000.00 | 8,973,906.67 | ||
| BA | RBC | 2.80 | 13-Nov-02 | 13-Feb-03 | 20,852,790.00 | 21,000,000.00 | 20,929,595.22 | ||
| BA | RBC | 2.81 | 18-Nov-02 | 13-Feb-03 | 2,980,050.00 | 3,000,000.00 | 2,989,910.34 | ||
| BA | CIBC | 2.83 | 20-Dec-02 | 14-Mar-03 | 9,935,300.00 | 10,000,000.00 | 9,943,772.62 | ||
| BOND | 6.00 | 4.99 | 22-Jan-02 | 1-Jun-08 | 2,115,000.00 | 2,000,000.00 | 2,098,012.49 | ||
| BOND | 5.70 | 4.81 | 17-Nov-02 | 1-Dec-08 | 3,147,300.00 | 3,000,000.00 | 3,144,362.01 | ||
| BOND | 5.50 | 5.19 | 22-Jan-02 | 1-Jun-09 | 2,046,000.00 | 2,000,000.00 | 2,040,128.02 | ||
| 245,884,935 | 248,127,059 | ||||||||