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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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008 A000701 RESERVE MANAGEMENT COMPANY, INC.
008 B000701 A
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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SIGNATURE MARC C. COZZOLINO
TITLE COUNSEL
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<NAME> EMERGING GROWTH
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<TABLE> <S> <C>
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<NAME> INFORMED INVESTORS
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<TABLE> <S> <C>
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<NAME> MID-CAP
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<TABLE> <S> <C>
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<NAME> INTERNATIONAL EQUITY
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<TABLE> <S> <C>
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<NAME> LARGE-CAP
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<TABLE> <S> <C>
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<NAME> CONVERTIBLE SECURITIES
<S> <C>
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