Year By Year Performance Of The System

                             GoldBondStocks             GoldBondSPRE

Nov 18- Dec 31, 2004         -.2%                              1.5%

2005                                    9.0%                              7.4%

2006                                   10.3%                           12.4%

2007                                   16.7%                             5.4%

2008                                   12.8%                            -4.9%

2009                                   10.9%                            12.6%

2010                                   15.7%                            16.8%

2011                                   15.0%                            19.1%

2012                                     7.0%                              7.7%

2013                                  -20.1%                          -13.9%   

2014                                   11.1%                            17.0%

Dividends were not included in the above results.  If included, results would average approximately 2% higher for GoldBondStocks and 3% higher for GoldBondSPRE.

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