09 August 1999 Taniel J. Zanger Chartpautern.com, 4872 Topanga Canyon Blvd, Suite 401 Woodland Hills CA 91364 Dear Daniel, lam pleased to enclose your portfolio performance measurement monitor for the one year period ending May 31, 1999. Also enclosed is a diskette comtaining an Adobe pdf file of the monitor. The performance of the fund was such that it was impossible to graph your retums on the same page as standard siock market indices. The scaling would simply not accommodate your 29,223 percent annual return along side the 23 percent earned by the S&P 500. For the same reason, if was oot possible to illustrate your performance relative to money manager universes. Please review the monitor and feel free to call me at (914) 309-1518 should you have any questions Or cOMmMENts. Sincerely, ‘Glenn R, Skidmore Director, Performance Measurement Service Bureau Enx,Performance Measurement DANIEL J. ZANGER PERSONAL PORTFOLIO 12 MONTH TOTAL PERFORMANCE PERIOD ENDING MAY 31, 1999Performance Measurement DANIEL J. ZANGER PERFORMANCE ANALYSIS‘Performance Measurement DANIEL J. ZANGER PERSONAL PORTFOLIO 12 MONTH TOTAL PERFORMANCE MARKET INDEX PERFORMANCE 5/98 THRU 5/99 2 6 w 8 Tas GUNTER TER OTE STE EATON [af mvssearo00 tan os 2 0Performance Measurement DANIEL J. ZANGER PERSONAL PORTFOLIO 12 MONTH TOTAL PERFORMANCE PERFORMANCE ANALYSIS: 5196 THRU 5/99 35.000 zac b 2 i 9 Bete b ? i 4 reco F i 5 1.000 ° f TEST TER Tea NTE Se SATOF [aaa t 1590 78 Ba a7Performance Measurement DANIEL J. ZANGER PERSONAL PORTFOLIO 12 MONTH TOTAL PERFORMANCE PERIOD ENDING MAY 31, 1999 — ASSET ALLOGATIN — — SOURCE OF PORTFOLIO GRaWTH — eee 2.000 900 1400 ea ama) vi ae 20h remtvouia uncer smu PEIINIMG WLGLET ALM 4 RT CourmiBuTecas LATEST TET oa a RATS TUCK TFs] EmaPerformance Measurement DANIEL J. ZANGER PERSONAL PORTFOLIO 12 MONTH TOTAL PERFORMANCE PERIOD ENDING MAY 31, 1999 — ASSET LOCATION — — SOURCE OF PORTFOLIO GROWTH — 3.000 2.080 990 00 meree amaiore e008 a0 vei ae 208 rereuea ensere aL ermine weeeE YHLUE 4 Ton urs x TTL Fa =Performance Measurement DANIEL J. ZANGER PERSONAL PORTFOLIO 12 MONTH TOTAL PERFORMANCE INVESTMENT PERFORMANCE™ PERIOD ENDING MAY 31, 1999 ue nae a] if te a) 00 Pe aoe fet ict Tora. su 3a wT TOTAL 122.90 ro.) 20,200.97 5.48 ear aos abs ee Be rts ier is.38 RATES OF REILEN GREATER THAN ONE YEAG HAE BEEN ANNUALIZEDPerformance Measurement DANIEL J. ZANGER PERSONAL PORTFOLIO 12 MONTH TOTAL PERFORMANCE TIME WEIGHTED RATE OF RETURN TOTAL FUND scceuwer POLICY soe sir Sar RE IML, GHTRLY. AMRUAL AL ere carey WRAL AWM TN hie Ss "aa 1H WBE ete ans ae eH ss5 ee Bee ous vi Pe re s1 6s" 4,653° B95 nso oa sha yee 1.3 me 58 3H a +e sea v4.98 1B 13 1B Th siveg 5 ARE AOR IZED, OTE, oe INCEPTION US 6790 mnctoT om vas ARE aan Peavons IW ahical Galtcaiwe Rho CUfPCArGAUED.Performance Measurement DANIEL J. ZANGER PERSONAL PORTFOLIO 12 MONTH TOTAL PERFORMANCE PERFORMANCE SUMMARY ASSET DISTRIBUTION net : owe savrattieH rercet _avaatt SRL ea Ores 8 eee 2305 on ar ise 8 356.51 Ba eB Bess 3 BE ares “aioe Ee 3 face aa TE ise 3 ito:te aiejei eos Bea 238 tos aan ort vee -24,709 og wee ept top. vB 8 eR EE ve Hae [igrdge arse ue HE pepoh a ais Cr es‘Performance Measurement DANIEL J. ZANGER PERSONAL PORTFOLIO 12 MONTH TOTAL PERFORMANCE HISTORICAL DATA & RATES OF RETURN TOTAL FUND. eveyren inven 1 cove Foe ro! vALUE 8 oe 8 $60.00 9 io 3 ay Vege 4 3g a Ea Teak 8 = 5 a 2 a 9 in a a deat 8 . a al 1:08 8 : 8 8a 2.80.89 W128 oo 2 7 Boge 4 0 } a 19.328. 08 155.098 ade -aa.ce8 a abe 8s i388 £800 ice 3 iguana i“ et 2 oF Pe3es, st