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<PAGE> PAGE 6
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<PAGE> PAGE 8
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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SIGNATURE MARY JANE FROSS
TITLE TREASURER
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<TABLE> <S> <C>
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<NAME> Montgomery III Variable Series Growth
<S> <C>
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