<PAGE>
Dear Shareholder:
A series of six short-term interest rate hikes initiated by the Federal Reserve
Board marked the fiscal year that ended June 30, 2000. Prompted by ongoing in-
flation concerns, Fed Chairman Alan Greenspan took a gradual approach to slow-
ing an overheated domestic economy, raising rates by a quarter point on five
occasions, then recently making a more aggressive half-point increase. Although
this measured course of action initially appeared to produce no tangible signs
of cooling, reports toward the end of the period suggested a slight moderation
in economic growth.
Against this backdrop, Centennial Money Market Trust produced an annualized
yield of 5.23%, and an annualized yield including the effects of compounding of
5.32%, for the fiscal year. The Trust's seven-day and compounded seven-day
yields on June 30, 2000, were 6.03% and 6.22%, respectively./1/
While the Trust is managed to emphasize liquidity and safety, the reported
yields for the period ended June 30, 2000, were generally higher than those re-
ported six months ago, due primarily to higher short-term interest rates during
the second half of the period.
In anticipation of higher interest rates, we kept our average maturity consid-
erably short. This enabled us to respond more effectively to changing condi-
tions without incurring additional risk. However, because interest rates were
rising at fairly frequent intervals, there was unprecedented demand for many
securities with shorter maturities. As supply came under pressure, spreads
or differences in yield, within our investment universe narrowed significantly.
Whereas we had favored these variable-rate vehicles in the past, in our opinion
they proved relatively unattractive throughout most of the year.
An investment in the Trust is neither insured nor guaranteed by the
Federal Deposit Insurance Corporation or any other government agency.
Although the Trust may seek to preserve the value of your investment at
$1.00 per share, it is possible to lose money by investing in the Trust.
1. Compounded yields assume reinvestment of dividends. Past performance
is not indicative of future results.
<PAGE>
We were able to find attractive yields in asset-backed commercial paper. These
asset-backed programs purchased by our Fund are generally limited to well-
structured, highly liquid programs. All told, asset-backed securities comprised
23.1% of net assets at year end, consti- tuting our largest area of
concentration./2/ Other investments focused on commer- cial paper issued by
high-quality financial services companies, insurance companies, banks and
brokerage firms.
Going forward, it's unclear whether the Federal Reserve will need to continue
to pursue a tight monetary policy. The Fed took a wait-and-see approach at the
June 28, 2000, Federal Open Market Committee meeting, and still maintains a
close eye on stock market performance and consumer confidence. We have started
to purchase securities with maturi- ties in excess of 90 days. Currently we
expect to maintain the average maturityof the Fund between 35 and 45 days.
In closing, we'd like thank you for your continued confidence and participation
in Centennial Money Market Trust. We look forward to helping you seek your
financial goals, while attempting to maintain the liquidity and safety of your
investment.
Sincerely,
/s/ James C. Swain
James C. Swain
Chairman
Centennial Money Market Trust
/s/ Bridget A. Macaskill
Bridget A. Macaskill
President
Centennial Money Market Trust
July 24, 2000
2. Based on net assets.
2
<PAGE>
Statement of Investments June 30, 2000
Centennial Money Market Trust
<TABLE>
<CAPTION>
Principal Value
Amount See Note 1
------------ ------------
<S> <C> <C>
Direct Bank Obligations--1.2%
Canadian Imperial Bank of Commerce:
6.26%, 7/14/00..................................... $115,000,000 $115,000,000
6.71%, 9/12/00..................................... 26,000,000 25,999,157
6.74%, 9/11/00..................................... 32,000,000 32,001,021
Dresdner Bank AG:
6.25%, 7/19/00..................................... 50,000,000 50,000,246
------------
Total Direct Bank Obligations....................... 223,000,424
------------
Letters of Credit--8.6%
Abbey National plc, guaranteeing commercial paper of
Abbey National North America:
6.18%, 7/25/00..................................... 150,000,000 149,382,000
6.58%, 9/12/00..................................... 50,000,000 49,332,861
ABN Amro Bank NV, guaranteeing commercial paper of
LaSalle Bank NA:
6.78%, 8/30/00..................................... 50,000,000 50,000,000
Bank of America NA, guaranteeing commercial paper of
Formosa Plastics Corp. USA, Series II:
6.45%, 8/2/00...................................... 20,000,000 19,885,333
Barclays Bank plc, guaranteeing commercial paper of
Banco Bradesco SA-Grand Cayman Branch, Series B:
6.61%, 9/19/00..................................... 31,000,000 30,544,645
Barclays Bank plc, guaranteeing commercial paper of
Banco Bradesco SA-Grand Cayman Branch, Series A:
6.61%, 9/18/00..................................... 70,000,000 68,984,631
Barclays Bank plc, guaranteeing commercial paper of
Petrobras International Finance Co.:
6.59%, 7/19/00..................................... 20,000,000 19,934,100
6.80%, 7/17/00..................................... 25,000,000 24,924,445
Credit Local de France, guaranteeing commercial
paper of Dexia CLF
Finance Co.:
6.59%, 9/13/00-9/14/00(/1/)........................ 118,000,000 116,387,830
6.60%, 9/15/00-9/18/00(/1/)........................ 120,000,000 118,306,000
Credit Suisse First Boston, guaranteeing commercial
paper of Credit Suisse First Boston International
(Guernsey) Ltd.:
6.65%, 8/16/00(/1/)................................ 30,000,000 29,745,083
</TABLE>
3
<PAGE>
Statement of Investments June 30, 2000 (Continued)
Centennial Money Market Trust
<TABLE>
<CAPTION>
Principal Value
Amount See Note 1
------------ --------------
<S> <C> <C>
Letters of Credit (Continued)
Deutsche Bank AG, guaranteeing commercial paper of
Deutsche Bank Financial, Inc.:
6.19%, 7/26/00................................... $ 50,000,000 $ 49,785,069
6.55%, 7/11/00................................... 100,000,000 99,818,056
6.58%, 9/21/00................................... 100,000,000 98,501,222
6.59%, 9/15/00................................... 82,000,000 80,859,198
6.61%, 7/31/00................................... 50,000,000 49,724,583
Dresdner Bank AG, guaranteeing commercial paper of
Dresdner US Finance, Inc.:
6.68%, 8/31/00................................... 100,000,000 98,868,111
First Union Corp., guaranteeing commercial paper
of First Union National Bank:
6.66%, 5/22/01(/2/).............................. 100,000,000 99,991,096
6.94%, 5/17/01(/2/).............................. 100,000,000 100,000,000
Keycorp, guaranteeing commercial paper of Key Bank
NA:
6.603%, 6/5/01(/2/).............................. 100,000,000 99,934,986
Societe Generale, guaranteeing commercial paper of
Societe Generale North America:
6.60%, 9/8/00.................................... 68,000,000 67,139,800
6.61%, 11/27/00.................................. 50,000,000 48,632,097
US Bancorp, guaranteeing commercial paper of US
Bank NA, Minneapolis:
6.56%, 7/7/00.................................... 35,000,000 34,961,733
--------------
Total Letters of Credit........................... 1,605,642,879
--------------
Short-Term Notes--87.4%
Aerospace/Defense--1.6%
BAE Systems Holdings, Inc.:
6.18%, 7/24/00(/1/).............................. 50,000,000 49,802,583
6.59%, 9/14/00(/1/).............................. 30,000,000 29,588,125
6.60%, 9/18/00-9/20/00(/1/)...................... 126,942,000 125,067,498
6.61%, 9/13/00(/1/).............................. 15,000,000 14,796,192
Honeywell International, Inc.:
6.63%, 11/17/00-12/4/00.......................... 83,000,000 80,718,727
--------------
299,973,125
--------------
</TABLE>
4
<PAGE>
Statement of Investments June 30, 2000 (Continued)
Centennial Money Market Trust
<TABLE>
<CAPTION>
Principal Value
Amount See Note 1
------------ ------------
<S> <C> <C>
Asset-Backed--23.1%
AriesOne Metafolio Corp.:
6.58%, 7/5/00(/1/).................................. $ 60,200,000 $ 60,155,987
Asset Backed Capital Finance, Inc.:
6.20%, 7/26/00(/1/)................................. 84,000,000 83,638,333
6.44%, 7/10/00(/1/)................................. 38,000,000 37,938,820
6.63%, 7/31/00-9/11/00(/1/)......................... 27,000,000 26,796,680
6.64%, 10/2/00(/1/)................................. 25,000,000 24,571,167
6.66%, 8/2/00(/1/).................................. 40,000,000 39,763,200
Asset Portfolio Funding Corp.:
6.59%, 7/17/00(/1/)................................. 44,362,000 44,232,069
6.62%, 9/18/00(/1/)................................. 200,000,000 197,094,556
6.65%, 7/26/00(/1/)................................. 25,650,000 25,531,547
Asset Securitization Cooperative:
6.53%, 8/4/00(/1/).................................. 100,000,000 99,383,278
6.58%, 7/7/00-8/25/00(/1/).......................... 75,000,000 74,649,067
6.60%, 7/6/00-9/13/00(/1/).......................... 135,000,000 134,054,000
6.68%, 8/23/00(/1/)................................. 29,000,000 28,714,801
Barton Capital Corp.:
6.55%, 7/18/00(/1/)................................. 23,200,000 23,128,241
6.58%, 7/7/00-8/3/00(/1/)........................... 115,440,000 115,022,759
6.59%, 7/10/00(/1/)................................. 50,000,000 49,917,625
6.60%, 7/13/00(/1/)................................. 45,000,000 44,901,000
6.62%, 9/28/00(/1/)................................. 27,954,000 27,496,502
6.63%, 7/19/00(/1/)................................. 22,189,000 22,115,443
Breeds Hill Capital Co. LLC, Series A:
6.57%, 7/19/00(/1/)................................. 37,000,000 36,878,455
6.58%, 7/21/00(/1/)................................. 80,000,000 79,707,222
CIESCO LP:
6.41%, 7/7/00....................................... 100,000,000 99,893,167
6.52%, 8/14/00(/2/)(/3/)............................ 50,000,000 49,998,202
6.53%, 7/5/00-7/24/00............................... 48,400,000 48,247,706
6.62%, 7/28/00...................................... 75,000,000 74,627,625
6.66%, 8/21/00...................................... 50,000,000 49,528,250
</TABLE>
5
<PAGE>
Statement of Investments June 30, 2000 (Continued)
Centennial Money Market Trust
<TABLE>
<CAPTION>
Principal Value
Amount See Note 1
------------ ------------
<S> <C> <C>
Asset-Backed (Continued)
Corporate Receivables Corp.:
6.40%, 7/7/00(/1/).................................. $ 30,000,000 $ 29,968,000
6.57%, 8/11/00(/1/)................................. 97,000,000 96,274,197
6.58%, 7/6/00-8/10/00(/1/).......................... 210,000,000 209,410,541
6.60%, 9/7/00(/1/).................................. 30,000,000 29,626,000
6.63%, 8/7/00(/1/).................................. 40,000,000 39,727,433
Eureka Securitization, Inc.:
6.54%, 7/19/00-7/21/00(/1/)......................... 59,809,000 59,602,525
6.59%, 7/12/00(/1/)................................. 50,000,000 49,899,319
6.60%, 7/13/00(/1/)................................. 127,000,000 126,720,600
6.66%, 8/10/00(/1/)................................. 81,000,000 80,400,600
Lexington Parker Capital Co. LLC:
6.20%, 7/11/00-7/17/00(/1/)......................... 44,805,000 44,703,036
6.58%, 7/6/00(/1/).................................. 50,000,000 49,954,306
6.61%, 9/12/00(/1/)................................. 30,000,000 29,597,892
6.62%, 7/20/00(/1/)................................. 150,000,000 149,475,917
6.68%, 8/25/00(/1/)................................. 130,000,000 128,684,278
Moriarty Ltd.:
6.40%, 7/5/00(/1/).................................. 80,000,000 79,943,111
6.44%, 7/10/00(/1/)................................. 50,000,000 49,919,500
6.60%, 9/7/00(/1/).................................. 75,000,000 74,065,000
6.67%, 8/22/00(/1/)................................. 50,000,000 49,518,278
New Center Asset Trust:
6.24%, 7/17/00...................................... 25,000,000 24,930,667
6.52%, 7/19/00...................................... 40,000,000 39,869,600
6.60%, 7/5/00....................................... 50,000,000 49,963,333
Park Avenue Receivables Corp.:
6.55%, 7/6/00(/1/).................................. 70,440,000 70,375,919
6.56%, 7/14/00(/1/)................................. 51,750,000 51,627,410
6.58%, 7/20/00-7/26/00(/1/)......................... 180,886,000 180,113,937
Scaldis Capital LLC:
6.57%, 7/20/00(/1/)................................. 37,618,000 37,487,375
6.61%, 9/15/00(/1/)................................. 45,711,000 45,070,986
6.65%, 7/26/00(/1/)................................. 31,723,000 31,576,501
</TABLE>
6
<PAGE>
Statement of Investments June 30, 2000 (Continued)
Centennial Money Market Trust
<TABLE>
<CAPTION>
Principal Value
Amount See Note 1
------------ --------------
<S> <C> <C>
Asset-Backed (Continued)
Sigma Finance, Inc.:
6.39%, 7/3/00(/1/)................................ $ 44,000,000 $ 43,984,380
6.60%, 8/30/00(/1/)............................... 47,000,000 46,483,000
6.61%, 7/27/00-9/7/00(/1/)........................ 68,000,000 67,343,774
6.62%, 7/31/00-9/5/00(/1/)........................ 120,000,000 119,205,600
6.65%, 10/2/00(/1/)............................... 22,001,000 21,623,041
6.68%, 9/1/00(/1/)................................ 40,000,000 39,539,822
6.70%, 8/24/00(/1/)............................... 61,000,000 60,386,950
Variable Funding Capital Corp.:
6.44%, 7/7/00(/1/)................................ 37,500,000 37,459,750
6.58%, 7/6/00-7/20/00(/1/)........................ 75,000,000 74,867,487
6.61%, 7/18/00-9/7/00(/1/)........................ 145,123,000 143,637,463
6.63%, 10/19/00(/1/).............................. 50,000,000 48,987,083
6.65%, 8/3/00(/1/)................................ 50,000,000 49,695,208
VVR Funding LLC:
6.60%, 7/19/00(/1/)............................... 50,000,000 49,835,000
6.63%, 8/4/00(/1/)................................ 15,000,000 14,906,075
--------------
4,324,446,596
--------------
Automotive--3.1%
BMW US Capital Corp.:
6.54%, 7/17/00.................................... 30,600,000 30,511,056
6.55%, 8/7/00..................................... 20,608,000 20,469,268
6.56%, 8/11/00.................................... 60,747,000 60,293,152
6.58%, 9/8/00-9/11/00............................. 109,015,000 107,592,975
DaimlerChrysler NA Holdings:
6.60%, 10/18/00................................... 100,000,000 98,001,667
6.61%, 11/20/00-11/30/00.......................... 168,000,000 163,472,885
6.62%, 11/27/00................................... 100,000,000 97,260,056
--------------
577,601,059
--------------
Banks--2.6%
Bank of America Corp.:
6.13%, 7/19/00.................................... 40,000,000 39,877,400
6.62%, 11/7/00.................................... 30,000,000 29,288,350
</TABLE>
7
<PAGE>
Statement of Investments June 30, 2000 (Continued)
Centennial Money Market Trust
<TABLE>
<CAPTION>
Principal Value
Amount See Note 1
----------- ------------
<S> <C> <C>
Banks (Continued)
Credit Suisse First Boston, Inc.:
6.50%, 8/4/00(/1/)................................... $50,000,000 $ 49,693,056
6.60%, 9/15/00(/1/).................................. 35,000,000 34,512,333
Wells Fargo Co.:
6.59%, 7/17/00....................................... 100,000,000 99,707,111
6.60%, 9/18/00....................................... 50,000,000 49,275,833
6.62%, 9/28/00-9/29/00............................... 150,000,000 147,526,694
6.67%, 8/28/00....................................... 38,000,000 37,591,648
------------
487,472,425
------------
Beverages--1.0%
Coca-Cola Enterprises, Inc.:
6.07%, 7/12/00(/1/).................................. 25,000,000 24,953,632
6.55%, 8/9/00(/1/)................................... 50,000,000 49,645,208
6.58%, 9/20/00(/1/).................................. 50,000,000 49,259,750
6.60%, 9/14/00(/1/).................................. 30,500,000 30,080,625
6.62%, 8/3/00(/1/)................................... 25,000,000 24,848,292
------------
178,787,507
------------
Broker/Dealers--9.4%
Banc of America Securities LLC:
7.325%, 8/5/28(/2/).................................. 20,000,000 20,000,000
Bear Stearns Cos., Inc., Series B:
6.381%, 10/13/00(/2/)................................ 50,000,000 50,000,000
6.691%, 4/12/01(/2/)................................. 30,000,000 30,000,000
6.698%, 6/21/01(/2/)................................. 50,000,000 50,000,000
6.70%, 3/6/01(/2/)................................... 50,000,000 50,000,000
6.706%, 3/8/01(/2/).................................. 40,000,000 40,000,000
6.712%, 3/2/01(/2/).................................. 50,000,000 50,000,000
6.72%, 6/27/01(/2/).................................. 50,000,000 50,000,000
6.734%, 3/30/01-5/31/01(/2/)......................... 90,000,000 90,000,000
Goldman Sachs Group LP:
6.78%, 9/13/00(/3/).................................. 75,000,000 75,000,000
6.90%, 12/4/00....................................... 100,000,000 100,000,000
6.90%, 12/8/00(/3/).................................. 40,000,000 40,000,000
6.92%, 12/6/00(/3/).................................. 140,000,000 140,000,000
</TABLE>
8
<PAGE>
Statement of Investments June 30, 2000 (Continued)
Centennial Money Market Trust
<TABLE>
<CAPTION>
Principal Value
Amount See Note 1
------------ --------------
<S> <C> <C>
Broker/Dealers (Continued)
Merrill Lynch & Co., Inc.:
6.58%, 9/15/00.................................... $100,000,000 $ 98,610,889
Merrill Lynch & Co., Inc., Series B:
6.615%, 4/11/01(/2/).............................. 100,000,000 99,984,750
6.631%, 4/24/01(/2/).............................. 55,000,000 54,991,227
6.774%, 5/30/01(/2/).............................. 30,000,000 30,024,140
6.811%, 3/1/01(/2/)............................... 50,000,000 50,055,274
Morgan Stanley, Dean Witter Co.:
6.59%, 9/11/00.................................... 97,000,000 95,721,540
7.125%, 6/8/01(/2/)............................... 200,000,000 200,000,000
7.295%, 12/1/00(/2/).............................. 80,000,000 80,000,000
Salomon Smith Barney Holdings, Inc.:
6.17%, 7/12/00.................................... 34,000,000 33,935,901
6.39%, 7/13/00.................................... 45,000,000 44,904,150
6.50%, 8/2/00-8/3/00.............................. 100,000,000 99,412,736
6.61%, 9/13/00-10/4/00............................ 100,000,000 98,409,928
--------------
1,771,050,535
--------------
Chemicals--1.2%
BASF AG:
6.60%, 7/21/00(/1/)............................... 50,000,000 49,816,667
6.64%, 11/27/00(/1/).............................. 85,000,000 82,664,011
6.66%, 11/29/00(/1/).............................. 100,000,000 97,204,403
--------------
229,685,081
--------------
Commercial Finance--6.3%
Caterpillar Financial Services Corp.:
6.59%, 9/7/00..................................... 35,800,000 35,354,370
CIT Group, Inc.:
6.38%, 7/10/00.................................... 100,000,000 99,840,500
6.58%, 9/21/00.................................... 50,000,000 49,250,611
6.59%, 9/20/00.................................... 50,000,000 49,258,625
6.60%, 9/8/00-9/18/00............................. 145,000,000 143,024,583
6.67%, 8/28/00.................................... 75,000,000 74,194,042
Countrywide Home Loans:
6.59%, 8/22/00.................................... 80,000,000 79,238,489
6.60%, 8/18/00.................................... 37,980,000 37,645,776
</TABLE>
9
<PAGE>
Statement of Investments June 30, 2000 (Continued)
Centennial Money Market Trust
<TABLE>
<CAPTION>
Principal Value
Amount See Note 1
------------ --------------
<S> <C> <C>
Commercial Finance (Continued)
Countrywide Home Loans, Series H:
6.696%, 6/8/01(/2/)............................... $100,000,000 $ 99,986,039
6.717%, 5/21/01(/2/).............................. 150,000,000 149,995,664
6.754%, 5/30/01(/2/).............................. 50,000,000 49,995,530
Heller Financial, Inc., Series I:
5.846%, 9/25/00(/2/).............................. 50,000,000 50,013,571
6.90%, 8/7/00(/2/)................................ 50,000,000 49,999,496
Homeside Lending, Inc.:
6.25%, 7/24/00.................................... 50,000,000 49,800,347
6.58%, 9/20/00.................................... 50,000,000 49,259,750
6.59%, 8/16/00.................................... 50,000,000 49,578,972
6.62%, 9/27/00.................................... 50,000,000 49,190,889
Private Export Fund Corp.:
6.50%, 8/2/00(/1/)................................ 24,000,000 23,861,333
--------------
1,189,488,587
--------------
Consumer Finance--2.1%
American Express Credit Corp.:
6.54%, 7/10/00.................................... 150,000,000 149,754,750
6.55%, 7/12/00-7/13/00............................ 150,000,000 149,681,598
American General Finance Corp.:
6.39%, 7/12/00.................................... 50,000,000 49,902,375
6.59%, 7/17/00.................................... 50,000,000 49,853,556
--------------
399,192,279
--------------
Consumer Services--1.6%
Block Financial Corp.:
6.59%, 7/14/00(/1/)............................... 50,000,000 49,880,906
6.63%, 7/27/00(/1/)............................... 30,000,000 29,855,700
6.66%, 7/28/00(/1/)............................... 20,000,000 19,900,100
6.70%, 8/4/00(/1/)................................ 50,000,000 49,683,611
Prudential Funding Corp.:
6.18%, 7/28/00.................................... 50,000,000 49,768,250
6.57%, 9/7/00..................................... 60,000,000 59,255,400
6.66%, 8/30/00.................................... 39,000,000 38,567,100
--------------
296,911,067
--------------
</TABLE>
10
<PAGE>
Statement of Investments June 30, 2000 (Continued)
Centennial Money Market Trust
<TABLE>
<CAPTION>
Principal Value
Amount See Note 1
------------ ------------
<S> <C> <C>
Department Stores--0.3%
Wal-Mart Stores, Inc.:
6.52%, 7/11/00(/1/)................................. $ 16,000,000 $ 15,971,022
6.56%, 9/6/00(/1/).................................. 49,000,000 48,401,764
------------
64,372,786
------------
Diversified Financial--11.7%
Associates Corp. of North America:
6.37%, 7/6/00-7/7/00................................ 100,000,000 99,902,681
6.38%, 7/10/00...................................... 50,000,000 49,920,250
6.60%, 7/14/00...................................... 100,000,000 99,761,667
6.65%, 8/24/00...................................... 50,000,000 49,501,250
6.67%, 9/1/00....................................... 100,000,000 98,851,278
6.94%, 7/3/00....................................... 69,670,000 69,643,293
Ford Motor Credit Co.:
6.52%, 7/20/00...................................... 50,000,000 49,827,944
6.53%, 7/12/00-7/21/00.............................. 150,000,000 149,537,458
GE Capital International Funding, Inc.:
6.40%, 7/12/00(/1/)................................. 100,000,000 99,804,444
6.56%, 8/7/00(/1/).................................. 50,000,000 49,662,889
6.59%, 9/20/00(/1/)................................. 50,000,000 49,258,625
General Electric Capital Corp.:
6.68%, 8/30/00-8/31/00.............................. 120,000,000 118,651,011
General Motors Acceptance Corp.:
6.57%, 9/15/00...................................... 75,000,000 73,959,750
6.58%, 8/1/00....................................... 40,000,000 39,773,356
6.60%, 7/24/00...................................... 50,000,000 49,789,167
Household Finance Corp.:
6.18%, 7/24/00...................................... 90,000,000 89,644,650
6.56%, 7/7/00....................................... 75,000,000 74,918,000
6.62%, 11/3/00-12/8/00.............................. 100,000,000 97,379,583
6.68%, 8/28/00...................................... 45,000,000 44,515,700
7.10%, 9/14/00(/2/)................................. 100,000,000 99,987,705
</TABLE>
11
<PAGE>
Statement of Investments June 30, 2000 (Continued)
Centennial Money Market Trust
<TABLE>
<CAPTION>
Principal Value
Amount See Note 1
------------ --------------
<S> <C> <C>
Diversified Financial (Continued)
National Rural Utilities Cooperative Finance
Corp.:
6.07%, 7/13/00................................... $100,000,000 $ 99,797,667
6.12%, 7/7/00.................................... 41,065,000 41,023,082
6.14%, 7/19/00................................... 25,000,000 24,923,250
6.18%, 7/17/00-7/18/00........................... 70,000,000 69,800,008
6.61%, 9/14/00................................... 65,000,000 64,107,708
6.62%, 12/7/00-12/8/00........................... 80,000,000 77,651,739
6.66%, 8/17/00................................... 18,000,000 17,843,490
Textron Financial Corp.:
6.57%, 7/20/00................................... 50,000,000 49,826,625
6.58%, 8/9/00.................................... 50,000,000 49,643,583
6.61%, 8/23/00-8/24/00........................... 120,500,000 119,323,513
6.62%, 7/27/00................................... 16,500,000 16,421,112
--------------
2,184,652,478
--------------
Diversified Media--0.4%
Omnicom Finance, Inc.:
6.63%, 7/17/00-7/19/00(/1/)...................... 40,000,000 39,874,767
6.70%, 8/9/00(/1/)............................... 39,000,000 38,716,925
--------------
78,591,692
--------------
Electric Utilities--0.5%
Edison International:
6.55%, 8/17/00(/1/).............................. 50,000,000 49,572,431
6.58%, 8/16/00(/1/).............................. 24,000,000 23,798,213
6.63%, 9/5/00(/1/)............................... 20,000,000 19,756,900
--------------
93,127,544
--------------
Healthcare/Drugs--0.2%
American Home Products Corp.:
6.53%, 7/14/00(/1/).............................. 39,000,000 38,908,036
--------------
Insurance--8.5%
Aegon Funding Corp.:
6.58%, 9/5/00(/1/)............................... 50,000,000 49,396,833
6.59%, 9/8/00(/1/)............................... 56,500,000 55,785,821
6.60%, 9/13/00(/1/).............................. 50,000,000 49,321,667
6.62%, 12/7/00(/1/).............................. 35,000,000 33,976,658
6.65%, 8/22/00(/1/).............................. 50,000,000 49,519,722
6.66%, 8/28/00(/1/).............................. 19,000,000 18,796,130
</TABLE>
12
<PAGE>
Statement of Investments June 30, 2000 (Continued)
Centennial Money Market Trust
<TABLE>
<CAPTION>
Principal Value
Amount See Note 1
------------ --------------
<S> <C> <C>
Insurance (Continued)
AIG Life Insurance Co.:
6.13%, 5/31/01(/2/)(/3/)......................... $ 20,000,000 $ 20,000,000
Allstate Life Insurance Co.:
6.696%, 8/1/00(/2/).............................. 50,000,000 50,000,000
American General Annuity Insurance:
6.641%, 4/1/03(/2/).............................. 50,000,000 50,000,000
American General Corp.:
6.50%, 7/14/00................................... 40,000,000 39,906,111
Cooperative Assn. of Tractor Dealers, Inc., Series
A:
7.00%, 7/3/00.................................... 50,000,000 49,980,556
Cooperative Assn. of Tractor Dealers, Inc., Series
B:
7.05%, 7/3/00.................................... 34,000,000 33,986,683
Jackson National Life Insurance Co.:
6.64%, 3/1/01(/2/)............................... 70,000,000 70,000,000
6.65%, 8/1/00(/2/)............................... 48,000,000 48,000,000
Marsh U.S.A., Inc.:
6.50%, 8/2/00(/1/)............................... 50,000,000 49,711,111
Metropolitan Life Insurance Co.:
6.86%, 12/31/22(/2/)............................. 220,500,000 220,500,000
Pacific Life Insurance Co.:
6.661%, 2/14/03(/2/)(/3/)........................ 71,000,000 71,000,000
Protective Life Insurance Co.:
6.791%, 3/14/24(/2/)............................. 30,000,000 30,000,000
Prudential Life Insurance Co.:
6.29%, 1/31/03(/2/).............................. 165,000,000 165,000,000
Teachers Insurance & Annuity Assn. of America:
6.62%, 8/1/00(/1/)............................... 109,000,000 108,380,362
TransAmerica Life Insurance & Annuity Co.:
6.641%, 8/31/00(/2/)............................. 100,000,000 100,000,000
Travelers Insurance Co.:
6.615%, 9/16/00-2/2/01(/2/)(/3/)................. 73,000,000 73,000,000
6.635%, 10/5/00(/2/)(/3/)........................ 40,000,000 40,000,000
6.685%, 9/16/00(/2/)(/3/)........................ 25,000,000 25,000,000
Western Southern Life Insurance Co.:
6.641%, 12/1/02(/2/)............................. 100,000,000 100,000,000
--------------
1,601,261,654
--------------
</TABLE>
13
<PAGE>
Statement of Investments June 30, 2000 (Continued)
Centennial Money Market Trust
<TABLE>
<CAPTION>
Principal Value
Amount See Note 1
------------ ------------
<S> <C> <C>
Leasing & Factoring--2.4%
American Honda Finance Corp.:
6.17%, 7/13/00-7/17/00.............................. $ 50,000,000 $ 49,880,027
6.19%, 7/28/00...................................... 40,000,000 39,814,300
6.60%, 9/5/00-9/13/00............................... 173,950,000 171,710,576
6.62%, 2/8/01(/2/)(/4/)............................. 50,000,000 49,992,974
6.66%, 1/16/01(/2/)(/4/)............................ 45,000,000 44,997,296
Hertz Corp.:
6.56%, 7/7/00....................................... 50,000,000 49,945,333
6.57%, 9/13/00...................................... 50,000,000 49,324,750
------------
455,665,256
------------
Manufacturing--1.9%
Eaton Corp.:
6.50%, 8/3/00(/1/).................................. 45,000,000 44,731,875
6.63%, 8/30/00(/1/)................................. 55,000,000 54,391,417
6.64%, 9/11/00(/1/)................................. 50,000,000 49,336,000
6.65%, 9/21/00(/1/)................................. 25,000,000 24,621,319
6.68%, 10/16/00(/1/)................................ 75,000,000 73,507,944
6.70%, 11/8/00-12/7/00(/1/)......................... 53,000,000 51,582,764
6.72%, 8/21/00(/1/)................................. 50,000,000 49,524,000
------------
347,695,319
------------
Metals/Mining--0.8%
Alcoa, Inc.:
6.63%, 10/26/00..................................... 65,000,000 63,599,412
6.65%, 8/14/00-8/24/00.............................. 80,100,000 79,393,363
------------
142,992,775
------------
Nondurable Household Goods--0.6%
Newell Rubbermaid, Inc.:
6.58%, 9/20/00(/1/)................................. 40,000,000 39,407,800
6.60%, 8/22/00(/1/)................................. 40,000,000 39,618,667
6.62%, 7/26/00(/1/)................................. 25,000,000 24,885,069
------------
103,911,536
------------
</TABLE>
14
<PAGE>
Statement of Investments June 30, 2000 (Continued)
Centennial Money Market Trust
<TABLE>
<CAPTION>
Principal Value
Amount See Note 1
------------ -------------
<S> <C> <C>
Oil: Domestic--0.4%
Motiva Enterprises LLC:
6.17%, 7/17/00..................................... $ 40,000,000 $ 39,890,311
6.41%, 7/7/00...................................... 30,000,000 29,967,950
-------------
69,858,261
-------------
Photography--0.1%
Eastman Kodak Co.:
6.54%, 8/1/00...................................... 20,000,000 19,887,367
-------------
Publishing--1.5%
Tribune Co.:
6.17%, 7/6/00(/1/)................................. 89,000,000 88,923,732
6.59%, 8/23/00(/1/)................................ 35,000,000 34,660,432
6.60%, 9/11/00(/1/)................................ 25,000,000 24,670,000
6.62%, 9/27/00-10/2/00(/1/)........................ 136,500,000 134,245,155
-------------
282,499,319
-------------
Special Purpose Financial--0.9%
Forrestal Funding Master Trust, Series 2000-A:
6.60%, 8/11/00(/4/)................................ 35,000,000 34,736,917
6.63%, 7/28/00(/4/)................................ 41,219,000 41,014,039
KZH-KMS Corp.:
6.55%, 7/21/00(/1/)................................ 30,159,000 30,049,255
6.56%, 7/14/00(/1/)................................ 25,000,000 24,940,778
RACERS, Series 2000-7-MM:
6.707%, 5/30/01(/2/)(/3/).......................... 36,000,000 35,983,862
-------------
166,724,851
-------------
Telecommunications--Technology--3.6%
Alcatel SA:
6.60%, 9/7/00(/1/)................................. 8,000,000 7,900,267
GTE Corp.:
6.48%, 7/25/00(/1/)................................ 30,000,000 29,868,000
6.60%, 7/5/00-7/21/00(/1/)......................... 130,000,000 129,679,166
6.63%, 7/6/00(/1/)................................. 39,000,000 38,964,087
6.64%, 7/11/00-7/28/00(/1/)........................ 82,000,000 81,733,115
6.65%, 8/2/00(/1/)................................. 58,800,000 58,452,427
</TABLE>
15
<PAGE>
Statement of Investments June 30, 2000 (Continued)
Centennial Money Market Trust
<TABLE>
<CAPTION>
Principal Value
Amount See Note 1
------------ ---------------
<S> <C> <C>
Telecommunications--Technology (Continued)
SBC Communications, Inc.:
6.17%, 7/17/00(/1/)............................. $ 50,000,000 $ 49,862,889
6.52%, 8/4/00(/1/).............................. 50,000,000 49,692,111
6.55%, 8/3/00(/1/).............................. 25,000,000 24,849,896
6.56%, 8/21/00(/1/)............................. 50,000,000 49,535,333
6.61%, 7/24/00(/1/)............................. 49,000,000 48,793,070
Vodafone Air Touch plc-MTC:
6.862%, 6/5/01(/2/)(/3/)........................ 110,000,000 109,990,929
---------------
679,321,290
---------------
Telephone Utilities--1.6%
AT&T Corp.:
6.58%, 9/11/00-9/14/00.......................... 300,000,000 295,978,889
---------------
Total Short-Term Notes........................... 16,380,057,314
---------------
Total Investments, at Value...................... 97.2% 18,208,700,617
---------------
Other Assets Net of Liabilities.................. 2.8 525,097,954
------------ ---------------
Net Assets....................................... 100.0% $18,733,798,571
============ ===============
</TABLE>
Short-term notes, direct bank obligations and letters of credit are generally
traded on a discount basis; the interest rate is the discount rate received by
the Trust at the time of purchase. Other securities normally bear interest at
the rates shown.
1. Security issued in an exempt transaction without registration under the
Securities Act of 1933. Such securities amount to $7,283,981,872, or 38.88% of
the Trust's net assets, and have been determined to be liquid pursuant to
guidelines adopted by the Board of Trustees.
2. Represents the current interest rate for a variable or increasing rate
security.
3. Represents a restricted security which is considered illiquid, by virtue of
the absence of a readily available market or because of legal or contractual
restrictions on resale. Such securities amount to $679,972,993, or 3.63% of the
Trust's net assets. The Trust may not invest more than 10% of its net assets
(determined at the time of purchase) in illiquid securities.
4. Represents a security sold under Rule 144A, which is exempt from
registration under the Securities Act of 1933, as amended. These securities
have been determined to be liquid under guidelines established by the Board of
Trustees. These securities amount to $170,741,226 or 0.91% of the Trust's net
assets as of June 30, 2000.
See accompanying Notes to Financial Statements.
16
<PAGE>
Statement of Assets and Liabilities June 30, 2000
Centennial Money Market Trust
<TABLE>
<S> <C>
ASSETS
Investments, at value--see accompanying statement............. $18,208,700,617
Cash.......................................................... 80,692,757
Receivables and other assets:
Shares of beneficial interest sold........................... 650,847,996
Interest..................................................... 18,674,480
Other........................................................ 3,207,170
---------------
Total assets................................................ 18,962,123,020
---------------
LIABILITIES
Payables and other liabilities:
Shares of beneficial interest redeemed....................... 175,424,521
Dividends.................................................... 45,180,041
Transfer and shareholder servicing agent fees................ 4,311,671
Service plan fees............................................ 1,474,979
Trustees' compensation....................................... 14,535
Other........................................................ 1,918,702
---------------
Total liabilities........................................... 228,324,449
---------------
NET ASSETS.................................................... $18,733,798,571
===============
COMPOSITION OF NET ASSETS
Paid-in capital............................................... $18,733,718,429
Accumulated net realized gain on investment transactions...... 80,142
---------------
NET ASSETS--applicable to 18,734,251,144 shares of beneficial
interest outstanding......................................... $18,733,798,571
===============
NET ASSET VALUE, REDEMPTION PRICE AND OFFERING PRICE PER
SHARE........................................................ $1.00
</TABLE>
See accompanying Notes to Financial Statements.
17
<PAGE>
Statement of Operations For the Year Ended June 30, 2000
Centennial Money Market Trust
<TABLE>
<S> <C>
INVESTMENT INCOME
Interest........................................................ $1,088,473,436
--------------
EXPENSES
Management fees................................................. 62,139,589
Service plan fees............................................... 36,929,811
Transfer and shareholder servicing agent fees................... 20,051,451
Custodian fees and expenses..................................... 884,954
Trustees' compensation.......................................... 64,644
Other........................................................... 4,570,179
--------------
Total expenses................................................ 124,640,628
Less expenses paid indirectly................................... (113,968)
--------------
Net expenses.................................................... 124,526,660
--------------
NET INVESTMENT INCOME........................................... 963,946,776
--------------
NET REALIZED GAIN ON INVESTMENTS................................ 1,668
--------------
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS............ $ 963,948,444
==============
</TABLE>
Statements of Changes in Net Assets
<TABLE>
<CAPTION>
Year Ended June 30,
--------------------------------
2000 1999
--------------- ---------------
<S> <C> <C>
OPERATIONS
Net investment income....................... $ 963,946,776 $ 792,499,233
Net realized gain........................... 1,668 14,857
--------------- ---------------
Net increase in net assets resulting from
operations................................. 963,948,444 792,514,090
--------------- ---------------
DIVIDENDS AND/OR DISTRIBUTIONS TO SHAREHOLD-
ERS........................................ (963,946,776) (792,539,959)
--------------- ---------------
BENEFICIAL INTEREST TRANSACTIONS
Net increase in net assets resulting from
beneficial interest transactions........... 913,155,440 2,706,509,046
--------------- ---------------
NET ASSETS
Total increase.............................. 913,157,108 2,706,483,177
Beginning of period......................... 17,820,641,463 15,114,158,286
--------------- ---------------
End of period............................... $18,733,798,571 $17,820,641,463
=============== ===============
</TABLE>
See accompanying Notes to Financial Statements.
18
<PAGE>
Financial Highlights
Centennial Money Market Trust
<TABLE>
<CAPTION>
Year Ended June 30,
---------------------------------------------------
2000 1999 1998 1997 1996
------- ------- ------- ------ ------
<S> <C> <C> <C> <C> <C>
PER SHARE OPERATING DATA
Net asset value,
beginning of period.... $1.00 $1.00 $1.00 $1.00 $1.00
Income from investment
operations--net
investment income and
net realized gain...... .05 .05 .05 .05 .05
Dividends and/or
distributions to
shareholders........... (.05) (.05) (.05) (.05) (.05)
------- ------- ------- ------ ------
Net asset value, end of
period................. $1.00 $1.00 $1.00 $1.00 $1.00
======= ======= ======= ====== ======
TOTAL RETURN(/1/)....... 5.36% 4.75% 5.16% 4.97% 5.11%
RATIOS/SUPPLEMENTAL DATA
Net assets, end of
period (in millions)... $18,734 $17,821 $15,114 $9,063 $6,753
Average net assets (in
millions).............. $18,537 $17,128 $12,617 $8,033 $6,077
Ratios to average net
assets:(/2/)
Net investment income... 5.20% 4.63% 5.04% 4.86% 4.99%
Expenses................ 0.67% 0.66% 0.68%(/3/) 0.73%(/3/) 0.74%(/3/)
Expenses, net of
voluntary assumption of
expenses............... N/A N/A 0.66% 0.67% 0.69%
</TABLE>
1. Assumes a $1,000 hypothetical initial investment on the business day before
the first day of the fiscal period, with all dividends reinvested in additional
shares on the reinvestment date, and redemption at the net asset value
calculated on the last business day of the fiscal period. Total returns reflect
changes in net investment income only. Total returns are not annualized for
periods less than one year.
2. Annualized for periods of less than one full year.
3. Expense ratio has not been grossed up to reflect the effect of expenses paid
indirectly.
See accompanying Notes to Financial Statements.
19
<PAGE>
Notes to Financial Statements
Centennial Money Market Trust
1. Significant Accounting Policies
Centennial Money Market Trust (the Trust) is registered under the Investment
Company Act of 1940, as amended, as a diversified, open-end management
investment company. The Trust's investment objective is to seek the maximum
current income that is consistent with low capital risk and the maintenance of
liquidity. The Trust's investment advisor is Centennial Asset Management
Corporation (the Manager), a subsidiary of OppenheimerFunds, Inc. (OFI). The
following is a summary of significant accounting policies consistently followed
by the Trust.
Securities Valuation. Portfolio securities are valued on the basis of amortized
cost, which approximates market value.
Repurchase Agreements. The Trust requires the custodian to take possession, to
have legally segregated in the Federal Reserve Book Entry System or to have
segregated within the custodian's vault, all securities held as collateral for
repurchase agreements. The market value of the underlying securities is
required to be at least 102% of the resale price at the time of purchase. If
the seller of the agreement defaults and the value of the collateral declines,
or if the seller enters an insolvency proceeding, realization of the value of
the collateral by the Trust may be delayed or limited.
Federal Taxes. The Trust intends to continue to comply with provisions of the
Internal Revenue Code applicable to regulated investment companies and to
distribute all of its taxable income to shareholders. Therefore, no federal
income or excise tax provision is required.
Dividends and Distributions to Shareholders. Dividends and distributions to
shareholders, which are determined in accordance with income tax regulations,
are recorded on the ex-dividend date.
Expense Offset Arrangements. Expenses paid indirectly represent a reduction of
custodian fees for earnings on cash balances maintained by the Trust.
Other. Investment transactions are accounted for as of trade date. Realized
gains and losses on investments are determined on an identified cost basis,
which is the same basis used for federal income tax purposes.
The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of income and expenses during the reporting period. Actual
results could differ from those estimates.
20
<PAGE>
Notes to Financial Statements (Continued)
Centennial Money Market Trust
2. Shares of Beneficial Interest
The Trust has authorized an unlimited number of no par value shares of
beneficial interest. Transactions in shares of beneficial interest were as
follows:
<TABLE>
<CAPTION>
Year Ended June 30, 2000 Year Ended June 30, 1999
--------------------------------- ---------------------------------
Shares Amount Shares Amount
--------------- ---------------- --------------- ----------------
<S> <C> <C> <C> <C>
Sold.................... 59,623,565,708 $ 59,623,565,708 50,615,000,093 $ 50,615,000,093
Dividends and/or
distributions
reinvested............. 928,419,736 928,419,736 776,439,225 776,439,225
Redeemed................ (59,638,830,004) (59,638,830,004) (48,684,930,272) (48,684,930,272)
--------------- ---------------- --------------- ----------------
Net increase............ 913,155,440 $ 913,155,440 2,706,509,046 $ 2,706,509,046
=============== ================ =============== ================
</TABLE>
3. Fees and Other Transactions with Affiliates
Management Fees. Management fees paid to the Manager were in accordance with
the investment advisory agreement with the Trust which provides for a fee of
0.50% of the first $250 million of the Trust's net assets, 0.475% of the next
$250 million, 0.45% of the next $250 million, 0.425% of the next $250 million,
0.40% of the next $250 million, 0.375% of the next $250 million, 0.35% of the
next $500 million and 0.325% of net assets in excess of $2 billion. The Manager
has agreed to reimburse the Trust if aggregate expenses (with specified
exceptions) exceed the lesser of 1.50% of average annual net assets of the
Trust up to $30 million, and 1% of its average annual net assets in excess of
$30 million; or 25% of the total annual investment income of the Trust. The
Trust's management fee for the year ended June 30, 2000 was an annualized rate
of 0.34%, before any waiver by the Manager if applicable.
Transfer Agent Fees. Shareholder Services, Inc. (SSI) acts as the transfer and
shareholder servicing agent for the Trust and for other registered investment
companies on an "at-cost" basis.
Service Plan Fees. Under an approved service plan, the Trust may expend up to
0.20% of its average annual net assets annually to reimburse the Manager, as
distributor, for costs incurred in connection with the personal service and
maintenance of accounts that hold shares of the Trust, including amounts paid
to brokers, dealers, banks and other financial institutions. During the year
ended June 30, 2000, the Trust paid $1,208 to a broker/dealer affiliated with
the Manager as reimbursement for distribution-related expenses.
21
<PAGE>
Independent Auditors' Report
Centennial Money Market Trust
To the Board of Trustees and Shareholders of Centennial Money Market Trust:
We have audited the accompanying statement of assets and liabilities of Cen-
tennial Money Market Trust, including the statement of investments, as of June
30, 2000, and the related statement of operations for the year then ended, the
statements of changes in net assets for each of the two years in the period
then ended, and the financial highlights for each of the five years in the pe-
riod then ended. These financial statements and financial highlights are the
responsibility of the Trust's management. Our responsibility is to express an
opinion on these financial statements and financial highlights based on our
audits.
We conducted our audits in accordance with auditing standards generally ac-
cepted in the United States of America. Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the finan-
cial statements and financial highlights are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. Our procedures included confirmation
of securities owned as of June 30, 2000, by correspondence with the custodian
and brokers; where replies were not received from brokers, we performed other
auditing procedures. An audit also includes assessing the accounting princi-
ples used and significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that our audits pro-
vide a reasonable basis for our opinion.
In our opinion, the financial statements and financial highlights referred to
above present fairly, in all material respects, the financial position of Cen-
tennial Money Market Trust as of June 30, 2000, the results of its operations
for the year then ended, the changes in its net assets for each of the two
years in the period then ended, and the financial highlights for each of the
five years in the period then ended, in conformity with accounting principles
generally accepted in the United States of America.
Deloitte & Touche LLP
Denver, Colorado
July 24, 2000
22
<PAGE>
Federal Income Tax Information (Unaudited)
Centennial Money Market Trust
In early 2001 shareholders will receive information regarding all dividends and
distributions paid to them by the Trust during calendar year 2000. Regulations
of the U.S. Treasury Department require the Trust to report this information to
the Internal Revenue Service.
None of the dividends paid by the Trust during the year ended June 30, 2000 are
eligible for the corporate dividend-received deduction.
The foregoing information is presented to assist shareholders in reporting dis-
tributions received from the Trust to the Internal Revenue Service. Because of
the complexity of the federal regulations which may affect your individual tax
return and the many variations in state and local tax regulations, we recommend
that you consult your tax advisor for specific guidance.
23
<PAGE>
Centennial Money Market Trust
Officers and Trustees
James C. Swain, Trustee and
Chairman of the Board
Bridget A. Macaskill, Trustee and President
Robert G. Avis, Trustee
William A. Baker, Trustee
George C. Bowen, Trustee
Jon S. Fossel, Trustee
Sam Freedman, Trustee
Raymond J. Kalinowski, Trustee
C. Howard Kast, Trustee
Robert M. Kirchner, Trustee
Ned M. Steel, Trustee
Carol E. Wolf, Vice President
Andrew J. Donohue, Vice President
and Secretary
Brian W. Wixted, Treasurer
Robert J. Bishop, Assistant Treasurer
Scott T. Farrar, Assistant Treasurer
Robert G. Zack, Assistant Secretary
Investment Advisor and Distributor
Centennial Asset Management Corporation
Transfer and Shareholder Servicing Agent
Shareholder Services, Inc.
Custodian of Portfolio Securities
Citibank, N.A.
Independent Auditors
Deloitte & Touche LLP
Legal Counsel
Myer, Swanson, Adams & Wolf, P.C.
This is a copy of a report to shareholders of
Centennial Money Market Trust. This report must be
preceded or accompanied by a Prospectus of
Centennial Money Market Trust. For other material
information concerning the Trust, see the Prospectus.
For shareholder servicing, call:
1.800.525.9310 (in U.S.)
303.671.3200 (outside U.S.)
Or write:
Shareholder Services, Inc.
P.O. Box 5143
Denver, CO 80217-5143
RA0150.001.0600
Printed on recycled paper
2000 Annual Report
Centennial
Money Market
Trust
June 30, 2000
