!!!SAMPLE!!!

Investment Planners, Inc./ The Volkers Group, LLC.
PERFORMANCE BY SECURITY INCLUDING ACCRUED INTEREST
John and Jane Doe
Discounted Cash Flow Method
From 12-31-97 To 06-30-98
12-31-97 Realized Unrealized Interest Ann. IRR 06-30-98 Pct. of
Security Market Value Gains Gains Dividends +Fees Market Value Assets








CASH & EQUIV. [Fees]
CASH ACCOUNT -16,361.66 0.00 0.00 0.00 -1,297.40 -0.22






-16,361.66 0.00 0.00 0.00 -1,297.40 -0.22
MONEY MARKETS [Fees]
GREAT HALL GOVERNMENT 59,803.38 0.00 361.77 4.38 9,733.92 1.66






59,803.38 0.00 361.77 4.38 9,733.92 1.66
COMMON STOCK
CEPHALON INC 5,687.50 0.00 -1,750.00 0.00 -52.07 3,937.50 0.67
FIRST FINL CORP IND 12,100.00 -705.39 0.00 0.00 -42.63 0.00 0.00
GALILEO CORP 0.00 0.00 932.16 0.00 23.02 11,875.00 2.03
MCI COMMUNICATIONS CHG NEW 12,843.90 0.00 4,593.60 0.00 84.32 17,437.50 2.98
PETES BREWING CO CHG 4,063.00 261.85 0.00 0.00 22.69 0.00 0.00







34,694.40 -443.54 3,775.76 0.00 21.37 33,250.00 5.67
TOP STOCK
ACCUSTAFF INC XXX 0.00 0.00 -1,033.70 0.00 -50.73 6,250.00 1.07
AIRBORNE FRGHT CORP DEL 6,212.50 0.00 775.10 15.50 27.10 6,987.60 1.19
AIRTOUCH COMMUNICATIONS INC (DE) 8,312.60 0.00 3,375.00 0.00 97.69 11,687.60 1.99
CANANDAIGUA BRANDS INC CL A 0.00 -272.20 0.00 0.00 -17.08 0.00 0.00
CAPITAL ONE FINL COR 0.00 0.00 3,131.80 8.00 266.64 12,418.80 2.12
CLEAR CHANNEL COMMUNICATIONS IN 0.00 612.75 0.00 0.00 43.74 0.00 0.00
COCA COLA ENTERPRISES INC 0.00 123.91 0.00 5.00 6.24 0.00 0.00
COMPAQ COMPUTER CORP 16,950.00 91.55 0.00 5.61 3.88 0.00 0.00
DELL COMPUTER CORP 15,120.00 4,340.26 10,162.60 0.00 471.43 18,562.60 3.17
E M C CORPORATION (MASS) 0.00 0.00 1,666.28 0.00 64.99 8,962.60 1.53
EQUITABLE COS INC 0.00 0.00 2,034.20 0.00 191.89 8,617.87 1.47
GAP INC (DEL) 0.00 0.00 793.30 0.00 228.58 6,143.80 1.05
GENERAL NUTRITION COS INC 6,800.00 80.33 0.00 0.00 3.92 0.00 0.00
H B O & CO CHG 0.00 0.00 2,180.08 2.60 93.87 9,165.00 1.56
HEALTH MGNT ASSOC CL A 0.00 0.00 269.67 0.00 34.80 6,687.60 1.14
PEOPLESOFT INC 0.00 0.00 921.62 0.00 36.42 7,990.00 1.36
PROFFITTS INC 0.00 0.00 2,509.86 0.00 94.50 10,093.75 1.72
SAFESKIN CORP 0.00 1,705.07 562.76 0.00 84.83 8,225.00 1.40
STAPLES INC 0.00 0.00 892.99 0.00 74.68 8,681.40 1.48
TELLABS INC 5,816.25 -202.67 6.75 0.00 -11.56 7,162.50 1.22
TYCO INTL LTD NEW 11,265.75 0.00 5,565.00 12.50 109.03 22,050.00 3.76
WHOLE FOODS MKT INC 7,668.75 0.00 1,406.25 0.00 40.04 9,075.00 1.55







78,145.85 6,479.00 35,219.56 49.21 87.60 168,761.12 28.79
CALLS
CALL AIRTOUCH COMMNS $55 0.00 119.99 0.00 0.00 NA 0.00 0.00
CALL CANAANDAIGUA $60 0.00 64.49 0.00 0.00 5,617.05 0.00 0.00
CALL CAPITAL ONE FINL $105 0.00 219.99 0.00 0.00 NA 0.00 0.00
CALL CEPHALON INC $12.500 0.00 388.72 0.00 0.00 2,868.52 0.00 0.00
CALL MCI COMMUNICATIONS $45 -487.50 -1,328.12 0.00 0.00 -100.00 0.00 0.00
CALL MCI COMMUNICATIONS $50 0.00 262.48 0.00 0.00 8,081.59 0.00 0.00
CALL PROFFITTS INC $40 0.00 69.99 0.00 0.00 NA 0.00 0.00
CALL SAFESKIN CORP $35 0.00 244.99 0.00 0.00 NA 0.00 0.00
CALL SAFESKIN CORP $37.50 0.00 397.48 0.00 0.00 NA 0.00 0.00
CALL TYCO INTL LTD $60 0.00 54.99 0.00 0.00 NA 0.00 0.00
CALL WHOLE FOODS MKT $65 0.00 171.23 0.00 0.00 12,074.10 0.00 0.00
CALL WHOLE FOODS MKT $65 0.00 307.48 0.00 0.00 NA 0.00 0.00
CEPHALON INC CLL OPT 15.0000 02211998 -218.50 218.50 0.00 0.00 300.00 0.00 0.00
EMC CORP CLL OPT 40.0000 03211998 0.00 65.99 0.00 0.00 NA 0.00 0.00
SAFESKIN CORP CLL OPT 65.0000 03211998 0.00 -205.01 0.00 0.00 NA 0.00 0.00







-706.00 1,053.19 0.00 0.00 2,361.16 0.00 0.00
CLOSED END (INCOME)
FIRST COMWLTH FD INC 0.00 0.00 -1,473.06 139.50 -30.05 9,900.00 1.69







0.00 0.00 -1,473.06 139.50 -30.05 9,900.00 1.69
CORPORATE BONDS
FCPC REMIC 20-A3 RDP DUE 08/17/26 CLD 02/18/98 @ 100% 9,978.17 51.00 -29.17 160.09 15.01 0.00 0.00
7.500 % Due 02-18-98
MCDONNELL DOUGLAS FI RDP DUE 06/15/03 CLD 3/15/98 @ 101% 7,666.59 -570.92 -25.67 144.38 -25.34 0.00 0.00
8.250 % Due 03-15-98
FRUIT OF THE LOOM INC SR NOTES 10,408.55 0.00 -166.29 393.75 4.49 10,242.26 1.75
7.875 % Due 10-15-99
ARCHER DANIELS MIDLAND DEB ZERO COUPON CURRENTLY CALLABLE 0.00 0.00 93.44 0.00 6.56 3,193.44 0.54
0.000 % Due 05-01-02
K MART CORP NT B/E 4,067.50 0.00 231.83 167.50 21.53 4,299.33 0.73
8.375 % Due 07-01-22
LIMITED INC NT REGD 15,244.70 0.00 364.83 562.50 12.82 15,609.53 2.66
7.500 % Due 03-15-23







47,365.50 -519.92 468.97 1,428.22 7.40 33,344.56 5.69
GOV'T BONDS
UNITED STATES TREAS BOND GENERIC TINT PMT (WITHOUT 8.75% COUPON 8,274.00 13.00 0.00 0.00 1.22 0.00 0.00
0.000 % Due 05-15-19
TENNESSEE VALLEY AUTH BOOK ENTRY CALLABLE 9/15/99 @ 10 39,894.36 0.00 17.51 1,567.50 8.30 39,911.88 6.81
8.250 % Due 09-15-34
TENNESSEE VY AUTH PWR BOND 1993F 0.00 0.00 66.15 -202.43 -4.87 10,341.15 1.76
6.875 % Due 12-15-43







48,168.36 13.00 83.66 1,365.07 6.37 50,253.02 8.57
CMO
FNMA REMIC 93-9-PT RDP DUE 10/25/22 CLD 10/25/98 @ 3.9405 11,947.44 0.00 -31.78 375.00 5.93 11,915.66 2.03
7.500 % Due 10-25-98
FHLMC REMIC 91-157-H 10,351.83 0.00 -158.62 333.35 3.46 10,193.21 1.74
8.000 % Due 08-25-06
FHLMC REMIC 1237-I 22,734.04 0.00 -161.97 733.35 5.19 22,572.07 3.85
0.080 % Due 06-15-21







45,033.32 0.00 -352.37 1,441.70 4.99 44,680.94 7.62
GRWTH MUTUAL FD
FIDELITY ADV GR OPPS-T 0.00 0.00 2,982.23 0.00 17.07 52,982.23 9.04
SALOMON BROS SER FDS INC ASIA GROWTH FD CL 15,268.23 0.00 -3,631.36 0.00 -41.91 11,636.87 1.99







15,268.23 0.00 -649.13 0.00 -2.48 64,619.10 11.03
SMALL-CAP MUTUAL FD
ESC STRATEGIC FDS INC GROWTH FD CL D 9,705.41 0.00 278.66 0.00 5.82 9,984.07 1.70







9,705.41 0.00 278.66 0.00 5.82 9,984.07 1.70
INCOME MUTUAL FD
FID ADV GOVT INVT PORT-T 76,473.55 409.42 288.10 1,505.02 11.36 28,505.20 4.86







76,473.55 409.42 288.10 1,505.02 11.36 28,505.20 4.86
HEDGED MUTUAL FD
VAN ECK INTL INVESTORS GOLD FD 14,669.26 0.00 -1,569.06 101.34 -19.01 13,201.54 2.25







14,669.26 0.00 -1,569.06 101.34 -19.01 13,201.54 2.25
GROWTH VAR. ANN.
FIDELITY AGGRESSIVE ASSET ALLOCATION 0.00 890.07 0.00 0.00 37.00 0.00 0.00
J.P. MORGAN INT'L GROWTH & INCOME 28,545.66 3,063.43 0.00 0.00 81.97 0.00 0.00
MORGAN STANLEY GLOBAL EQUITY 0.00 1,867.22 0.00 0.00 38.57 0.00 0.00
T. ROWE PRICE BLUE CHIP GROWTH 0.00 507.09 0.00 0.00 16.97 0.00 0.00
T. ROWE PRICE EQUITY-INCOME 0.00 237.70 0.00 0.00 23.30 0.00 0.00
WELLINGTON GROWTH AND INCOME 0.00 1,071.54 0.00 0.00 27.18 0.00 0.00







28,545.66 7,637.05 0.00 0.00 40.90 0.00 0.00
SMALL-CAP VAR. ANN.
ALGER SMALL/MID CAP 19,616.02 1,617.94 0.00 0.00 59.28 0.00 0.00
FOUNDERS INT'L SMALL CAP 19,899.77 1,634.64 0.00 0.00 58.98 0.00 0.00







39,515.79 3,252.58 0.00 0.00 59.13 0.00 0.00
INCOME VAR. ANN.
OECHSLE GLOBAL GOV'T. BOND 26,328.56 715.13 0.00 0.00 10.08 0.00 0.00
SALOMON BROS. STRATEGIC BOND 0.00 85.13 0.00 0.00 7.24 0.00 0.00
SALOMON BROS. U.S. GOV'T SECURITIES 0.00 29.78 0.00 0.00 2.63 0.00 0.00
WELLINGTON INVESTMENT QUAL. BOND 14,336.45 34.87 0.00 0.00 0.98 0.00 0.00







40,665.01 864.91 0.00 0.00 6.68 0.00 0.00
MONEY MKT. VAR. ANN.
MANUFACTURERS MONEY MARKET 0.00 0.00 661.49 0.00 4.35 121,142.49 20.67







0.00 0.00 661.49 0.00 4.35 121,142.49 20.67







TOTAL PORTFOLIO 520,986.06 18,745.69 36,732.58 6,391.83 25.13 586,078.56 100.00