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Income Equity Portfolio

Top Ten Holdings
as of March 31, 2002

1 BUD Anheuser-Busch Companies
2 MHP McGraw-Hill Companies Inc
3 FNM Fannie Mae (Fed Natl Mtg Assoc)
4 WYE Wyeth
5 LNC Lincoln National Corp
6 BAC Bank of America
7 XOM Exxon Mobil Corp
8 MRK Merck & Co
9 KMB Kimberly Clark
10 AVY Avery Dennison Corp


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Copyright 2001 Berkeley Capital Management.® All rights reserved.

Berkeley Capital Management is registered with the SEC under the Investment Advisors Act of 1940. All information provided herein is general in nature. Nothing on this page constitutes an offer to sell securities, provide investment services of any description, nor constitutes investment or legal advice.



The opinions expressed are those of Berkeley Capital Management and based upon sources deemed reliable. BCM shall not be held liable for inaccurate information obtained from these sources from which BCM could normally, reasonably depend on as accurate. Past performance does not guarantee future results.

FOR BROKER-DEALER USE ONLY. NOT FOR USE WITH CLIENTS. A complete list and description of all the firm's composites and individual securities' transactions and returns for the past twelve months are available upon request.
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