<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 7
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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SIGNATURE LESLIE L. OGG
TITLE VICE PRESIDENT
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<NAME> BALANCED PORTFOLIO
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