<TABLE>
1717 K Street, NW, Suite 707
Washington, DC 20006-1504
Telephone (202) 331-8055
Fax (202) 331-8190
TIN: 52-6220193
Participant I.D.: BTT027
TIN: 52-6127745
Distributions are: Reinvested
Mr. Dave Stupar, Executive Director
Bricklayers & Trowel Trades
Int'l. Pension Fund
815 Fifteenth Street, N.W.
Washington, DC 20005
<CAPTION>
Investment Summary
July 1, 1998 - July 31, 1998
Transactions
Market Value Units
this Total Investment
Date Description Dollar Amount per Unit
Transaction Units Balance
<S> <C> <C> <C> <C>
<C> <C>
07/01/98 Beginning Balance $1,110.7332
38,968.0486 $43,283,105.32
07/31/98 Income of $6.1612/unit 240,091.67
07/31/98 Reinvestment of Income 240,091.67 1,109.2102
216.4528 39,184.5014 43,463,848.63
07/31/98 Ending Balance $1,109.2102
39,184.5014 $43,463,848.63
<CAPTION>
Monthly Income Per Unit
Ordinary Income Capital Gains Operating Expenses
Net Income
$6.5342876612 0.0000000000 (0.3730432816)
6.1612443796
Performance
Type of Return 1-Month 3-Month 1-Year 3-Year
5-Year 10-Year Inception-to-Date
<S> <C> <C> <C> <C>
<C> <C> <C>
Trust Time-Weighted, Gross 0.45% 2.02% 8.98% 9.46%
8.23% 10.04% --
Trust Time-Weighted, Net 0.42% 1.92% 8.54% 8.98%
7.73% 9.52% --
Participant Dollar-Weighted, Net 0.42% 1.92% 8.54% 8.96%
7.70% 9.37% 9.54%
<FN>
<F1>
Note: Returns greater than one year are
annualized.
All performance figures presented herein are based upon historical results and
do not assure future performance.
Units may be worth more or less at redemption than at
original purchase.
</FN>
</TABLE>