Form990-PF Return of Private Foundation

Return of Private Foundation OMB No ,545-ow Form990-PF or Section 4947(a)(i) Nonexempt Charitable Trust pepaKmmeTreaswy Treated as a Private Foundation Internal R Service 200 2 Note: The organization may be able to use a copy o/ this return to satisfy state reporting requirements . ' " For calen~'r year 7002 or !P x year beginning NOV 1, 2002 and ending OCT 31 , 2 0 03 _ G Check l,that apply ~ Initial return Final return Amended return ~I Address than e U Name than e A Employer identification number Use the I~ Name of organization label. Otherwise, HE RICHARD H . DRIEHAUS FOUNDATION 36-3261347 prince umber end street for P O box number if mail h not delivered to street address) Room suite g Telephone number or type 5 EAST ERIE STREET 312-587-3800 See Sp or town, state, and ZIP code C It exemption application is pending, check here 1 Instruct ~~Y r; HICAGO IL 60611 D t . Foreign organizations, check here . ..~."0 2 . Foreign organizations meeting the es% tes% . .~ a H Check tJl &f organization: X Section 501 ( c )( 3 ) exempt private foundation check here and attach computation . .. . Section 4947(a)(1) nonexempt chaMable trust Other taxable private foundation 0 E If private foundation status was terminated I Fair market value of all assets at end of year J Accounting method : 0 Cash ~ Accrual under section 507(b)(1)(A), check here ..." " (from Part ll, cot (c), line 16) 0 Other (specify) F If the foundation is in a 60-month termination 111104 66 , 772 , 401 . (Part I, column (d) must be on cash basis.) under section 507(b)( 1 B), check here pad I Analysts of Revenue and Expenses (a) Revenue and (b) Net investment (c~ Adjusted net d Disbursements ~ coal or amounts in columns (o), (c). ~d (a) ~y roc gyp( cnantaDle purposes necessarily equal the amounts In column ca11 expenses per books income income (cash oasis only) Contributions, gifts, grants, etc, received .. 679 , 000 . N/A Check 1F 1 if mefoundabonanotmWiRdto+nxhSUh B 2 Distributions from split-interest trusts and temporary. . . . . Interest . . 7 7 . 3 nvestmenus 9 ,621 . 9,6 21 4 Dividends and interest from securities 203,979 . 203,979 . 5a Gross rents b (Net rental income or ooss) Net gain or (loss) from sale of assets not on 6 a line 10 13,488,072 . ST T Al b Gross saes price for an " assets on line 6a d Capital gain net income (from Part N, line 2) 1 3 ,77 9 , 89 7 . 8 Net short-term capital gam 9 Income modifications Gross sales less returns 10a and allowances

_ b Less Cost of goods sold c Gross profit or (loss) t other income <54 , 628 . > <54,628 . > TA9.'EMENT 12 Total. Add lines t through tt 14 , 396 , 044 . 14 , 008 , 869 . 3 CorApensation of officers, directors, trustees. e« 18, 600 . 1,860 . 16 , 740 . to Other employee salaries and wages 220, 157 . 0 . 220,157 . y 15 Pension pans, employee benefits 67,068 . 0 . 6 7 0 6 8 . y t sa Legal tees STMT 3 26,036 . 13,018 . 13,018 . b Accounting fees w c Other professional tees _ . ...STMT 4 . 295,122 . 260,983 . 3 4 13 9 . 17 Interest . 6 . 6 . 0 . e taxes ...... MT . .. . 150 , 776 . 16,084 . 0 . 19 Depre anon a . hil~rr . ~ ~ 20 Occup nc 19 , 818 . 0 . 19,818 . a 21 Travel, ere nK ~ . 30 , 748 . 0 . 30 748 . 22 Printin ~ publications 23 Other e pe ~~~ 307 r 894 . 247 685 . 60 , 209 . 24 Total o eratinil+~hMi3t!'at' expenses~ddiinest3thraugh23 1, 136, 225 . 539 636 . 461 , 897 . 0 25 Contributions, gifts, grants paid __ 5 037 , 839 . 5 11, 037 11` 839 . 26 Total expenses and disbursements . Addlines 24and25 6 , 174 , 064 . 539 636 . 5 11, 499 1 736 . 27 Subtract line 261rom line 12- a Excess of revenue over expenses and disbursements 8 , 221,980 . negative, b Net investment income (if enter -o-) 13,469 , 233 . 1 c Adjusted netincome fineoetive.ent~-0-1 N/A 22501 o1-2a-a3 LHA For Paperwork Reduction Act Notice, see the Instructions . Form 990-PF (2002) 1 ]~ p 09400226 710857 DRIEHAUS 2002 . 09000 THE RICHARD H . DRIEHAUS FOU DRIEHA02 I Form 990-PF (2002) THE RICHARD H . DRIEHAU S FOUNDATION 36-3261347 Page z AdStheMeSU~damountmthedatnpEOn Beginning of year End of year .- Balance SF{t'etS P~rf )1 cw,mnsnoiaabelaru~o-oE,wu~ameoiuv (a) Book Value (b) Book Value (c) Fair Market Value 1 Cash - non-interest-bearing 2 Savinns and iemporan; cash investments 4,639,646 . 16,138,282 . 6,138,282 . 3 Accounts receivable ~ 2 , 15 U , 8 U 1 . Less. allowance for doubtful accounts 01 1,185,828 . 2,150,801 . 2,150,801 . 4 Pledges receivable 1 Less: allowance for doubtful accounts 5 Grants receivable .. .. . , ...... 6 Receivables due from officers, directors, trustees, and other disqualified persons ...... 7 oft oohs and loans rta~wDk ...... Less: allowance for doubtful accounts 1 y 8 Inventories for sale or use N 9 Prepaid expenses and deferred charges .. . ,...... Q 10a Investments - U S and state government obligations .. , .. b Investments-corporate stock STMT_ 7 . . 43,974,607 . 48,338,512 . 48,338,512 . c Investments-corporate bonds . .... i z In~e550rwits-lan0e . Duil~nps, and equipment basis t ~38, ~6 2 9 . Le~saaunwmadecrauoon 1 4,625 . 38,629 . 38,629 . 12 Investments - mortgage loans . . . 13 Investments - other _ . _ ,_ .. .. 14 Land, buildings, and equipment. basis ~ Lesi7rcumu~~OdeD~OOn 1 15 Other assets (describe 1 STATEMENT 8 -) 30,689 . 106,177 . 106,177 .

16 Total assets to be com pleted b all filers 49 845 395 . 6-6 , 772- r 401 . 66 772 401 . 17 Accounts payable and accrued expenses 5,523,360 . 4,540,835 . 18 Grants payable .. 19 Deferred revenue .. . .

20 loans from oKcers, directors. trustees, end other disqualified persons 21 Mortgages and other notes payable _ . ._ ., J 22 Other liabilities (describe

23 Total liabilities add lines 17 ihrou h 22 5,523,360 .E 4,540,835 .E Organizations that follow SFAS 117, check here ~ . and complete lines 24 through 26 and lines 30 and 31 . N °' 24 Unrestricted ...... 25 Temporarily restricted m 26 Permanently restricted ,_, _ Organizations that do not follow SFAS 117, check here ~ OX and complete lines 27 through 31 . ,° 27 Capital stock, trust principal, or current funds ...... 0 . 0 ' y 28 Paid-in or capital surplus, or land, bldg , and equipment fund . N 0 . 0 . a 29 Retained earnings, accumulated income, endowment, or other funds 44,322 035 . 62 , 231,566 . . °' 30 Total net assets or fund balances 44,322,035 . 62,231,566 .

31 Total liabilities and net assets and balances 49 , 845 , 395 . 66 , 7 72,401 .1 p0,~jjlAnalysis of Changes in Net Assets or Fund Balances

1 Total net assets or fund balances at beginning of year - Part II, column (a), line 30 (must agree with end-of-year figure reported on poor year's return) _. , _ ...... , 1 4 4 322 , 035 . 2 Enter amount from Part I, line 27a . . . .' . . 2 8,22 1 , 980 . " 3 Other mcreasesnotincluded inlme2(itemize) " UNREALIZED GAIN/LOSSES . 3 9 , 687 , 669 . 4 Add lines 1, 2, and 3 , ._ . . , . , . . ., .. a 62 231 684 . 5 Decreases not included m pine 2 (itemize) " NON-DEDUCTIBLE EXPENSES ~~ (G]46* K-1 5 118 . 6 Total net assets or lurid balances at end of year (brie 4 minus line 5) -Part II, column (b), line 30 ` r6 r 6 2 , 231,566 . From 990-PF Roo2) 223511 " Ot-23-03 2 09400226 710857 DRIEHAUS 2002 .09000 THE RICHARD H . DRIEHAUS FOU DRIEHA02 l

Form 990-PF(2002) THE RICHARD H . DRIEHAUS FOUNDATION 36-3261347 Page 3 Part 1V Capital Gains and Losses for Tax on investment Income. the kind(s) of property sold (e.g ., real estate, (b How acquired (c) Date (a) List and describe ~ - Pu rchase acquired (d) Date sold 2-story brick warehouse ; or common stock, 200 shs . MLC Co 1 D - Donation (mo , day, yr.) (mo., day, yr.) la SEE ATTAC HED STATEMENT - P b SEE ATTACHED STATEMENT - ~. - P eCOMPASS PASS THROUGH SEC 1231 P

(f) Depreciation allowed (g) Cost or other basis (h) Gain or (loss) (e) Gross sates price (or allowable) plus expense of sale (e) plus (f) minus (g) < 15 , 506 , 881 . > 15 506 881 . 1 , 726 , 943 . <1 , 726 , 943 .> 41 . <41 .> d e Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (I) Gains (Col. (h) gam minus s of Col (i) Col (k), but not less than -0-) or (1) F.M V. as of 12/31/69 (has of 12/31b69 S lover Col (1), if any Losses from Col. (h)) a 15 506 881 . <1,726 , 943 .> <41 .> " d e

~f am, also enter in Part I, line 7 2 Capital 9 am net income or ( net capital loss ) ~ If ?joss), enter -o- in Part 1, line 7~ 2 13 , 779 , 897 . 3 Net short-term capital gam or (loss) as defined in sections 1222(5) and (6)' If gam, also enter m Part 1, line 8, column (c) If (loss), enter-0- in Part I, line 8 3 N/A Part V Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income (For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income ) If section 4940(d)(2) applies, leave this pad blank Was the organization liable for the section 4942 tax on the distnbutable amount of any year in the base period? 0 Yes EK No if 'Yes,'the organization does not qualify under section 4940(e) Do not complete this part 1 Enter the appropriate amount m each column for each year, see instructions before making any entries Base period years Distribution ratio Calendar ear or tax ear beginning m Adjusted qualifying distributions Net value of noncha~ritabte-use assets (Col (b) divided by Col. (c)) 200 3 , 276 , 941 . 54 881 876 . .0597090 2000 4 , 043 , 471 . 67 506 151 . .0598978 1sss 4 , 183 , 832 . 83 563 836 . .0500675 2 , 135 , 816 . 42 494 985 . .0502604 1ss8 1 1ss7 _ 5,224,112 . 37,519,125 . .1392386

2 Total of line 1, column (d). .3591733 3 Average distribution ratio for the 5-year base period - divide the total on line 2 by 5, or by the number of years the foundation has been in existence if less than 5 years .0718347

4 Enter the net value of noncharitable-use assets for 2002 from Part X, line 5 51,144,332 .

5 Multiply line 4 by line 3 . , .. . , 3,673,938 .

6 Enter 1% of net investment income (1% of Part I, line 27b) 134,692 .

7 Add lines 5 and 6 ._ 3,808,630 .

8 Enter qualifying distributions from Part XII, line 4 1 8 ~ 5,523,740 . If line 8 is equal to or greater than line 7, check the box m Part Vl, line 1b, and complete that part using a 1 % tax rate . See the Part VI instructions

223521/01-2J"07 Form 990-PF (2oo2) . .

Form 990-PF(2002) THE RICHARD H . DRIEHAUS FOUNDATION 36-3261347 Page 4 Part Yt Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948 - see instructions) 1 a Exempt operating foundations described in section 4940(d)(2), check here " Ej and enter 'NIA' on line 1. Date of ruling letter : (attach copy of ruling letter If necessary-see instructions) h Domestic organizations that meet the section 4940(e) requirements in Part V, check here 10, F RI and enter 1 % _ 1 - 1 3 4','6 9 2 of Part 1, line 27b c Ail other domestic organizations enter 2% of line 27b. Exempt foreign organizations enter 4°.6 of Part 1. line 12, col (b) 2 Tax under section 511 (domestic section 4947(a)(t) trusts and taxable foundations only . Others enter -0-), ...... , .. . 2 0 . 3 Add lines 1 and 2 ...... 3 134 , 692 . 4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only Others enter -0-) 4 0 . 5 Tax based on Investment Income . Subtract line 4 from line 3. If zero or less, enter -0- . _ , .. . 5 134 , 692 . 6 Credits/Payments : a 2002 estimated tax payments and 2001 overpayment credited to 2002 ...... 6a 232 , 019 . b Exempt foreign organizations -tax withheld at source ...... ,...... 6b c Tax paid with application for extension of time to file (Form 8868) ...... ,. .. . ., . . . 6t d Backup withholding erroneously withheld ...... , ...... 6d 7 Total credits and payments Add lines 6a through 6d ...,...... 7 232 , 019 . 8 Enter any penalty for underpayment of estimated tax Check here 0 if Form 2220 is attached ...... 8 9 Tax due . If the total of tines 5 and 8 is more than line 7, enter amount owed .. .,. . . , ., ... " 9 10 Overpayment . If line 7 is more than the total of lines 5 and 8, enter the amount overpaid . . . _, " 10 97 , 327 . 11 Enter the amount of line 10 to be' Credited to 2003 estimated tax " 9 7 . 3 2.7 . Refunded " 11 0 . Part V11-A Statements Regarding Activities 1 a During the tax year, did the organization attempt to influence any national, state, or local legislation or did it participate or intervene m Yes NO any political campaign ...... 1 a X b Old i1 spend more than $100 during the year (ether directly or indirectly) for political purposes (see instructions for definition)? _ _ 1b X If the answer is "Yes" to 1 a or 1 h, attach a detailed description o/ the activities and copies of any matenals published or distnbuted by the organization in connection with the activities. c Did the organization file Form 1120-POL for this years .._ .__ . . 1c X d Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year (1) On the organization " $ 0 . (2) On organization managers " $ 0 . e Enter the reimbursement (it any) paid by the organization during the year for political expenditure tax imposed on organization managers . " $ 0 . 2 Has the organization engaged in any activities that have not previously been reported to the IRS? 2 X t! 'Yes, 'attach a detailed description of the activities. 3 Has the organization made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments H 'Yes," attach a conformed copy of the changes 3 X 4a Did the organization have unrelated business gross income of $1,000 or more during the year? 4a X b If Yes,' has it filed a tax return on Form 990-T for this year? . , N / A 4b 5 Was there a liquidation, termination, dissolution, or substantial contraction during the year? . ,_ . 5 X !l 'Yes,' attach the statement required by General Instruction T 6 Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either : " By language in the governing instrument or " By state legislation that effectively amends the governing instrument so that no mandatory directions that conflict with the state taw remain m the governing instrument? ...... _ . ., , ...... , .. 6 X 7 Did the organization have at least $5,000 in assets at anytime during the year? ., ., , ,. , .. , ., . , ...... , __ 7 X If 'Yes,' complete Part 11, coL (c), and Part XV. 8a Enter the states to which the foundation reports or with which d is registered (see instructions) 10, ILLINOIS b If the answer is 'Yes'to tine 7, has the organization furnished a copy of Form 990-PF to the Attorney General (or designate) of each state as required by General Instruction G? If 'No,' attach explanation ,. . . , . ., ...... 8b X 9 Is the organization claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendar year 2002 or the taxable year beginning in 2002 (see instructions for Part XIV)? If 'Yes,' complete Part XIV _ 9 10 Did any persons become substantial contributors during the tax year? li "ves, " attach a schedule listing tnrr wines and addresses 10 X " 11 Did the organization comply with the public inspection requirements for its annual returns and exemption applications 11 X Web site address " NBA 12 The books are m care of " BARB WEAKLY Telephone no op- 312-587-3800 l.ocatedat " 25 EAST ERIE STREET, CHICAGO, IL zIP+a "60611 13 Section 4947(a)(1) nonexempt charitable trusts filing Form 990-Pf m lieu of Form 1041 " Check here ...... Ill.. ED and enter the amount of tax-exempt interest received or accrued during the year 10- 1 13 ~ N/A 223531 of-za-aa Form 990-PF aoozl, 4 09400226 710857 DRIEHAUS 2002 .09000 THE RICHARD H . DRIEHAUS FOU DRIEHA02 " Form 990-PF (2002) THE RICHARD H . DRIEHAUS FOUNDATION 36-3261 347 Pages Part VII-B. Statements Regarding Activities (or Which Form 4720 May Be File Form 4720 if any item is checked in the "Yes' column, unless an exception applies. 1 a During the year did the organization (either directly or indirectly) : (1) Engage in th- sale or exchange, or leasing of property with a disqualified persons 0 Yes ~X No (2) Borrow money rrom, lend money to, or otherwise extend credit to (or accept it from) a disqualified person? ...... , ...... 0 Yes OX No (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? . . , . ... . ,., ., ... X~ Yes El No (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ...... , ...... ,... OX Yes E:1 No (5) Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)? .... ...., .. ., ...... , . . . ., ..., ....... , .. ... 0 Yes EK No (6) Agree to pay money or property to a government official? (Exception . Check 'No* if the organization agreed to make a grant to or to employ the official for a period after termination of government service, if terminating within 90 days ) ...... , ...... , , .. , . . 0 Yes OX No b If any answer is 'Yes* to 1a(1)-(6), did any of the acts fail to qualify under the exceptions described m Regulations section 53 4941(d)-3 or in a current notice regarding disaster assistance (see page 19 of the instructions)? ... X Organizations relying on a current notice regarding disaster assistance check here , ...... . . . ., . . . . Po. F-1 c Did the organization engage m a prior year in any of the acts described in la, other than excepted acts, that were not corrected before the fast day of the tax year beginning in 2002? ...... _ ...... X 2 Taxes on failure to distribute income (section 4942) (does not apply for years the organization was a private operating foundation defined in section 4942(j)(3) or 4942(i)(5))- a At the end of tax year 2002, did the organization have any undistributed income (lines 6d and 6e, Part XIII) for tax year(s) beginning before 2002 El Yes 0 No If 'Yes,' list the years b Are there any years listed in 2a for which the organization is riot applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income? (If applying section 4942(a)(2) to all years listed, answer 'No' and attach statement-see instructions N/A c If the provisions of section 4942(a)(2) are being applied to any of the years* listed m 2a, list the years here . lob. I I " 3a Did the organization hold more than a 2% direct or indirect interest m any business enterprise at any time during the year ...... 0 Yes EXI No b It 'Yes," did it have excess business holdings in 2002 as a result of (1) any purchase by the organization or disqualified persons otter May 26, 1969, (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest, or (3) the lapse of the 10-, 15-, or 20-year fast phase holding period? (Use Schedule C, Form 4720, to determine d the organization had excess business holdings in 2002) .., N/A " 4a Did the organization invest during the year any amount in a manner that would jeopardize its charitable purposes? _, X b Did the organization make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2002? . . .. 4b I I X Sa During the year did the organization pay or incur any amount to (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? _ ~ Yes ~ No (2) Influence the outcome of any specific public election (see section 4955), or to carry on, directly or indirectly, " any voter registration drive? . . .. _ . . , ., . .. ~ Yes ~ No (3) Provide a grant to an individual for travel, study, or other similar purposes? . ... . .. . . . . , . EXI Yes 0 No (4) Provide a grant to an organization other than a charitable, etc., organization described in section 509(a)(t), (2), or (3), or section 4940(d)(2)? , , ., . . ,. . , . .._ ,.. ., ,. .. _, . . . , . , . ~ Yes ~ No (5) Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals? .. , . ... .. . , . . , ...... , .. ., , 0 Yes EX No " b If any answer is 'Yes'to Sa(1)-(5), did any of the transactions tad to qualify under the exceptions described in Regulations section 53 .4945 or in a current notice regarding disaster assistance (see instructions)? , ,. ., .. . , . X Organizations retying on a current notice regarding disaster assistance check here . . .. , ., .._ . . .. . , . _ ,. 1 c If the answer is 'Yes'to question 5a(4), does the organization claim exemption from the tax because it maintained .. expenditure responsibility for the grants .. M Yes 0 No 11 "Yes," attach the statement required by Regulations section 53.4945-5(o) . " 6a Did the organization, during the year, receive any funds, directly or indirectly . to pay premiums on a personal benefit contracts , , ...... 0 Yes ~ No b Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ...... X 11 you answered "Yes" to 6b, also !de Form 8870 Form 990-PF (2002)

223541 01 .23.0

5 09400226 710857 DRIEHAUS 2002 .09000 THE RICHARD H . DRIEHAUS FOU DRIEHA02 THE RICHARD H . DRIEHAUS FOUNDATION 36-3261347 Information About Officers, Directors, Trustees, Foundation Managers, Highly Page s FPart Paid Employees, and Contractors _, 1 List all officers, directors, trustees, foundation managers and their compensation: (c) Compensation ( conmowaaro b Title , and aversge a e Expense and address lour s peg week devoted (If not pa(d, ""~"~and account, other (a) Name to posdion enter-0- compensation allowances RICHARD H . DRIEHAUS ' RESIDr,NTi llIR ECTOR P .O . BOX 6277 ST . THOMAS US VI 00804 3 0 . 0 . 0 . DOROTHY MELLIN 1 REAS/DIRECT i 25 EAST ERIE STREET CHICAGO IL 60611 3 9 , 300 . 0 . 0 . ELIZABETH DRIEHAUS ECR ./DIRECTO 25 EAST ERIE STREET CHICAGO . IL 60611 - 3 9 , 300 . 0 . 0 .

2 Compensation of five highest-paid employees (other than those included on line 1). If none, enter "NONE." (b) Title and average to I (e) Expense (a) Name and address of each employee paid more than $50,000 hours per week (c) Compensation account, other devoted to position allowances SONIA FTSCHER E XEC DIRECT 203 N WABASH AVE CHICAGO IL 60601 40 00,067 . PETER HANDLER ROGRAM DIREC OR 203 N WABASH AVE CHICAGO IL 60601 32 63 .243 .

" Total number of other employees paid over $50,000 -710~ C 3 Five highest-paid independent contractors for professional services . If none, enter "NONE.' (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation DRIEHAUS CAPITAL MANAGEMENT INC . INVESTMENT ADVISORY 237 733 .

411

Total number of others receivin g over $50,000 for professional services . t1 0 Part IX-A Summary of Direct Charitable Activities . activities during year . Include relevant statistical information such as the List the foundation's four largest direct charitable the tax Expenses number of organizations and other beneficiaries served, conferences convened, research papers produced, etc . N/A

" 3

" 01-73-03 Forth 990-PF soon 6 09400226 710857 DRIEHAUS 2002 .09000 THE RICHARD H . DRIEHAUS FOU DRIEHA02 Form 990-PF(2002) THE RICHARD H . DRIEHAUS FOUNDATION 36-3261347 Page 7 Part 1X-B Summary of Program-Related Investments Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount i N/A

A11 other program-related investments. See instructions. 3

Total. Add lines 1 through 3

Part X Minimum Investment Return (All domestic foundations must complete this pan . Foreign foundations, see instructions.)

1 Fair market value of assets not used (or held for use) directly m carrying out charitable, etc , purposes' a Average monthly fair market vague of securities ...... 1 a 47 , 026 , 36-8 . b Average of monthly cash balances .. .. . 1 a 4 , 89 6 , 812 . c Fair market value of all other assets ...... 11C d Total (add lines la, b, and c) Id 51 , 923 , 180 . e Reduction claimed for blockage or other factors reported on lines la and 1c (attach detailed explanation) , . .. . 1e 0 . '2 Acquisition indebtedness applicable to line 1 assets _ 2 0 . 3 Subtract line 2 from line td ...... 3 51 , 923 , 180 . 4 Cash deemed held for charitable activities Enter 1 1/2% of line 3 (for greater amount, see instructions) 4 778 , 8 4 8 . 5 Net value of nonchantahle-use assets . Subtract line 41rom line 3 Enter here and on Part V, line 4 5 51 144 , 332 . 6 Minimum Investment return. Enter 5% of line 5 _ 6 2 ,557,217 . DistrIbutable Amount (see instructions) (Section 4942(j)(3) and (1)(5) private operating foundations and certain Part Xl foreign organizations check here " 0 and do not complete this part / 1 Minimum investment return from Part X, line 6 . _ . . . . . .., 1 4 ~ Jr I ~ L 1 I 2a Tax on investment income for 2002 from Part VI, line 5 . . 2a 13 4 6 9 2 . b Income tax for 2002 (This does not include the tax from Part VI ) 2b c Add lines 2a and 2b .. . . . , 2c . 134,692 . 3 Distributabte amount before adjustments Subtract line 2c from line 1 _ 3 2,422,525 . 4a Recoveries of amounts treated as qualifying distributions . 4a 0 . b Income distributions from section 4947(a)(2) trusts 4b 0 ., c Add lines 4a and 4b ...... , . . . _ 4c 0 . 5 Add lines 3 and 4c ...... s 2,422,525 . g Deduction from distnbutable amount (see instructions) 0 . 0 7 Distrlbutable amount as adjusted Subtract line 6 from line 5 Enter here and on Part XIII, line 1 2,422,525 . Part X11 Qualifying Distributions (see instructions)

7 Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes : a Expenses, contributions, gifts, etc -total from Part I, column (d), line 26 . , ...... , .. _ ,. ,. . , 1 a 5 , 499 , 736 . b Program-related investments - Total from Pan IX-8 . .. _. .. .._ . . , . , __, _., , . _ 1b 0 . 2 Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc , purposes 2 24 , 004 . 3 Amounts set aside for specific charitable projects that satisfy the: a Suitability test (prior IRS approval required) . _ . , _ , . , .. . , .. . ., ...... 3a b Cash distribution test (attach the required schedule) ...... , ...... , , ,. . 3b 4 Qualifying distributions . Add lines 1a through 3b. Enter here and on Part V, line 8, and Part Xlll, line 4 _ 4 5 , 523 , 740 . 5 Organizations that qualify under section 4940(e) for the reduced rate of tax on net investment income. Enter 1 % of Part I, line 27b .. .-- 5 13 4 , 692 . 6 Adjusted qualifying distributions . Subtract line 5 from line 4 . . . _ . . . , . ... 6 5 389 , 048 . Note : The amount on line 6 wig be used m Part V, column (b), in subsequent years when calculating whether the foundation qualifies for the section 4940(e) reduction of tax in those years. Fam, 990-PF Qoos)

zzassi " 07.23-00 7 09400226 710857 DRIEHAUS 2002 .09000 THE RICHARD H . DRIFHAUS FOU DRIEHA02 Form 990-PF(2002) THE RICHARD H . DRIEHAUS FOUNDATION 36-3261347 Page B Part X111 Undistributed Income see instructions) - (a) ~ (b) --~ -~c

Corpus Years prior l0 20 01 2001 2002 1 Dislnbutable amount toy 2002 from Part x1, line 7 ...... 2 t 422 41 525 . 2 UnaistnDuted income, J any, as of the end of 2001 . r - r + a Enter amount for 2001 only . .., ; Total for prior years: 0b . 0 . 3 Excess distributions carryover, if any, to 2002: . ` a From 1997 . . . . b from 1998 . .. " ' s$ c From 1999 .. _. ,' d From 2000 ...... 3,611 , 453 . e From 200 .. 3 2 7 6 9 41 . 1 Total of lines 3a through e , ...... 6, 888 , 394 . 4 Qualifying distributions for 2002 from Part XII, pine 4: 10, $ 5 , 523 , 740 . ~ f a Applied to 2001, but not mare than line 2a 0 . b Applied to undistributed income of prior r years (Election required - see instructions) _ 0 . c Treated as distributions out of corpus (Election required - see instructions) . 5,523 , 740 . d Applied to 2002 distribulable amount 0 . e Remaining amount distributed out of corpus 0 S Excess distributions carryover applied l0 2002 2,422,525 . 2 , 422 , 525 . Of an amount appears in column (d), the same amount ~-- --^-- T must be sown in column (a) ) 6 Enter the net total of each column as indicated below: a corpus Add lines 3}, 4c, and 4e subtract tine 5 9,989 , 609 . ` b Prior years' undistributed income Subtract line 4b from line 2b 0 . c Enter the amount of prior years' " undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously I assessed . . 0 . ' d Subtract line 6c from line 6b Taxable amount - see instructions 0 . e Undistributed income for 2001 Subtract line 4a from line 2a Taxable amount - see mstr . 0 . ' t Undistributed income for 2002 Subtract lines 4d and 5 from line 1 This amount must be distributed in 2003 0 . 7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(E) or 4942(8)(3) 0 . 8 Excess distributions carryover lrom 1997 not applied on line 5 or line 7 _ . 0 . 9 Excess distributions carryover to 2003. Subtract lines 7 and S from pine 6a 9 , 989 , 609 . 10 Analysis of line 9 " a Excess from 1998 6 Excess from 1999 c Excess from 2000 1 18 8 9 2 8 . d Excess from 200 3,276 , 941 . e Excess from 2002 5 , 523 , 740 .

223571 Form 990-PF (2oo2) " 01 .23-03

8 09400226 710857 DRIEHAUS 2002 .09000 THE RICHARD H . DRIEHAUS FOU DRIEHA02 I ". Form 990-PF 2002 THE RICHARD H . DRIEHAUS FOUNDATION 36-3261347 Page 9 Part X1V Private Operating Foundations (see instructions and Pan VII-A, question 9) N/A 1 a If the foundation has received a ruling or determination fetter that it is a private operating foundation, and the ruling is effective for 2002, enter the date of the ruling L h Check bo r to mdiczte ~~~hefher the organization is a private opera tina foundation described in section 49420)(3) or [~] 4942(1)(5) 2 a Enter the lesser of the adjusted net Tax year Prior 3 years in c om e from Part I or the minimum (a) 2002 (b) 2001 ~ (c) 2000 (d) 1999 (e) Total investment return from Part X for each year listed b 85% of line 2a . . . .. t Qualifying distributions from Part XII, line 4 for each year listed d Amounts included in line 2c not used directly for active conduct of exempt activities _ . _ _ e Oualitying distributions made directly for active conduct of exempt activities . Subtract line 2d from line 2c 3 Complete 3a, b, or c for the attemative test relied upon' a 'Assets' alternative test enter: (1) Value of all assets (2) Value of assets qualifying under section 4942(j)(3)(8)(i) b 'Endowment' alternative test - Enter 2/3 of minimum investment return shown m Part X, line 6 for each year listed c 'Support' alternative test - enter (i) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) (2) Support from general public and 5 or more exempt organizations as provided m section 4942(j)(3)(B)(m) (3) Largest amount of support from an exempt organization

Part XV Supplementary Information (Complete this part only if the organization had $5,000 or more in assets at any time during the year-see page 25 of the instructions .) 1 Information Regarding Foundation Managers: a List any managers of the foundation who have contributed more than 2°/0 of the total contributions received by the foundation before the close of any tax year (but only it they have contributed more than $5,000) (See section 507(d)(2).) RICHARD H . DRIEHAUS b List any managers of the foundation who own 10°.6 or more of the stock of a corporation (or an equally large portion of the ownership of a partnership or other entity) of which the foundation has a 10% or greater interest . SEE STATEMENT 9 2 Information Regarding Contribution, Grant, Gin, Loan, Scholarship, etc., Programs: Check here 1 ~X if the organization only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds. If the organization makes gifts, grants, etc (see instructions) to individuals or organizations under other conditions, complete items 2a, b, c, and d a The name, address, and telephone number of the person to whom applications should be addressed :

b The form m which applications should be submitted and information and materials they should include

t Any submission deadlines :

d Any restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other factors:

223581/01-29 .03 Farm 990-PF Row) 9 09400226 710857 DRIEHAUS 2002 .09000 THE RICHARD H . DRIEHAUS FOU DRIEHA02 I "

1 "

I "

223607N7-23.0.? Form 990"PF aoo21

10 09400226 710857 DRIEHAUS 2002 .09000 THE RICHARD H . DRIEHAUS FOU DRIEHA02 ' , Form 990-PF (2002) THE RICHARD H . DRIEHAUS FOUNDATION 36-3261347 Page 11

Part XVI-A Analysis of Income-Producing Activities Unrelated business income Excluded b section siz spa ors1a Enter gross amounts unless otherwise indicated (e) (a) (b) (d) ~ Related or exempt " Busir.es,~ amount "" ,;~nuun~ function income 1 Program service revenue code a b e d e t g Fees and contracts from government agencies 2 Membership dues and assessments ...... 3 Interest on savings and temporary cash investments ...... 14 79 , 621 . 4 Dividends and interest from securities . ... ._ 14 203,979 . 5 Net rental income or (loss) from real estate: a Debt-financed property .. . b Not debt-financed property 6 Net rental income or (lass) from personal property 7 Other investment income . _ 14 < 5 4 , 6 2 8 . 8 Gam or (toss) from sales of assets other than inventory 18 13 779,887 . 1 9 Net income or (loss) from special events 10 Gross profit or (loss) from sales of inventory i 11 Other revenue a b c d e 12 Subtotal Add columns (b), (d), and (e) 0 .1 - -14 ,008,-8 5 9 . 0 . 13 Total. Add line 12, columns (b), (d), and (e) 13 14,008,859 . (See worksheet in line 13 instructions to verily calculations )

Pert XVI-B Relationship of Activities to the Accomplishment of Exempt Purposes

2Z351 1 01 .23-03 Form 990-PF (2002 IZ 09400226 710857 DRIEHAUS 2002 .09000 THE RICHARD H . DRIEHAUS FOU DRIEHA02 ". Form 990-PF(2002) THE RICHARD H . DRIEHAUS FOUNDATION 36-3261347 page 12 Part XVIC Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations 1 Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of Ye organizations) the Code (olhPr than sPrtion 501(c)(3) organizations) or in section 527 relating to political a Transfers from the reporting organization to a noncharitable exempt organization of (1) Cash , ...... p a t X (2) Other assets ...... la (2) b Other Transactions : . . ' (1) Sales of assets to a nonchantable exempt organization ,. ... ., ..., .., .. 1b 1 X~~ (2) Purchases of assets from a nonchantable exempt organization ...... , 1b(2) (3) Rental of facilities, equipment, or other assets , . ,. . . ,...... , .. . ... .. ,.. , . 1b 3 (4) Reimbursement arrangements ...... ,... 1b 4 (5) Loans or loan guarantees ...... 1b (5) X (6) Performance of services or membership or fundraising solicitations . . ._ ...... ,. ... .., , 1b 6 c Sharing of facilities, equipment. mailing lists, other assets, or paid employees ...... , ., .. ,.. 1c d If the answer to any of the above is Yes,' complete the following schedule . Column (b) should always show the fair market value of the goods, other assets, or services given by the reporting organization . If the organization received less than fair market value m any transaction or sharing arrangement, show in

40 2a Is the organization directly or indirectly affiliated with, or related to, one or more tax-exempt organizations described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527? _ ~ Yes [0 No b Ii Yes,' complete the following schedule (a) Name of organization (b) Type of organization (c) Description of relationship N / A

Under penalties of p uy ~~that )~~~,,',,,~ave ex ec m;Ircludmg accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, anQ complete. ~o payer (d'1~er Man or fld, iAJ is based on all information of which preparer has any knowledge

$I9 ' B of officer Ortr ukteqrj ~Prepare~ N s ,1 12 4 signature F'umsrume(ayrours ARLES & ~ a j ~rseirtmo~oem J6500 WEST KAD-SON ST #37i ja~.a^dzwCae~ CHICAGO, IL 60661-2511

223621 01-23-03

09400226 710857 DRIEHAUS 2002 .09000 . Schedule B Schedule of Contributors OMB NO 15 45 .0047 (Form X90, 990-EZ, or - 990-PF) Supplementary Information for oePanmeni of the Treasury line 1 of Form 990, 990-EZ, and 990-PF (see instructions) 2 00 2 Internal Revenue Service Name o1 organization Employer identification number

THE RICHARD H . DRIEHAUS FOUNDATION I 36-3261347 Organization type (check one) : .

Filers of : Section:

Form 990 or 990-EZ 0 501(c)( ) (enter number) organization

0 4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF M 501(c)(3) exempt private foundation

0 4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

Check ii your organization is covered by the General Rule or a Special Rule. (Note: Only a section 501(c)(7), (8), or (10) organization can check boxes) for both the General Rule and a Special Rule-see instructions )

General Rule-

For organizations fling Form 990, 990~EZ, or 990-PF that received, during the year, $5,000 or more (in money or property) from anyone contributor. (Complete Parts I and II.)

Special Rules-

For a section 501(c)(3) organization tiling Form 990, or Form 990-EZ, that met the 33 1/3°h support test of the regulations under sections 509(a)(1)/170(b)(1)(A)(v) and received from any one contributor, during the year, a contribution of the greater of $5,000 or 2% of the amount on line 1 of these forms. (Complete Parts I and II.)

0 For a section 501(c)(7), (8), or (10) organization tiling Form 990, or Form 990~EZ, that received from any one contributor, during the year, aggregate contributions or bequests of more than $1,000 for use exclusively for religious, charitable, scientific, literary, or educational purposes, or the prevention of cruelty to children or animals . (Complete Parts I, II, and III.)

" 0 For a section 501(c)(7), (8), or (10) organization filing Form 990, or Form 990-EZ, that received from any one contributor, during the year, some contributions for use exclusively for religious, charitable, etc ., purposes, but these contributions did not aggregate to more than $1,000. (If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose . Do not complete any of the Parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions of $5,000 or more during the year.) .. .. . , " $

Caution : Organizations that are not covered by the General Rule and/or the Special Rules do not file Schedule B (Form 990, 990-EZ, or 990-PF), but they must check the box in the heading of their Form 990, Form 990-EZ, or on Irne 1 of their Form 990-PF, to certify that they do not meet the filing requirements of Schedule B (Form 990, 990-EZ, or 990-PF).

LHA For Paperwork Reduction Act Notice, see the Instructions Schedule 8 (Form 990, 990-EZ, or 990-PF) (2002) for Form 990 and Form 990-E2

223451 07 .23-03 13 09400226 710857 DRIEHAUS 2002 .09000 THE RICHARD H . DRIEHAUS FOU DRIEHA02 " . .

Schedule B (Forth 990, 99QEZ, or 990-PF) (2002) Page 1 to 1 0l Part 1 Name of organization Employer Identification number

THE RICHARD H . DRIEHAUS FOUNDATION 36-3261347

" PBft I Contributors (Sae Specific lnc:rvcticns

(a) (b) (c) (d) No. Maine, address, and ZIP + 4 Aggregate contributions Type of contribution JOHN D . & CATHERINE T. MACARTHUR 1 FOUNDATION Person OX Payroll 140 S . DEARBORN STREET, SUITE 1100 g 679,000 . Noncash 0 (Complete Part II if there CHICAGO, IL 60603-3285 is anoncashcontribution)

(a) (b) (c) (d) No. Name, address, and ZIP i 4 Aggregate contributions Type of contribution

Person Payroll 0 $ Noncash 0 (Complete Part II if there is a noncash contribution)

(a) (b) (c) (d) No. Name, address, and ZIP + 4 Aggregate contributions Type of contribution

Person Payroll 0 Noncash 0

(Complete Part II it there is a noncash contribution)

(a) (b) (c) Ho. Name, address, and ZIP + 4 Aggregate contributions Type of contribution

Person 0 Payroll 0 Noncash 0

(Complete Part II if there is a noncash contribution .)

(a) (b) (c) No. Name, address and ZIP + 4 Aggregate contributions Type of contribution

Person Payroll Noncash (Complete Part II if there I is a noncash contribution .)

(b) lcl (d) I No. Name, address, and ZIP + 4 Aggregate contributions Type of contribution

Person Payroll 0 Noncash 0 (Complete Part II d there is a noncash contribution .) 223452 01-23.03 Schedule B (Form 990, 990~EZ, or990-Pf)(2002) 14 09400226 710857 DRIEHAUS 20Q2 .Q9000 THE RICHARD H . DRIEHAUS FOU DRIEHA02 STATEMENT #1 36-3261347

The Richard H. Driehaus Foundation SUMMARY OF GAINS/LOSSES Year ending October 31, 2003 TOTAL REALIZED SHORT TERM LONG TERM GAINS/LOSSES

(Attached detail):

Allcap Growth 195,305 8,674 203,979 Best Ideas - (#06056300) 9,713,268 (998,762) 8,714,507 Emerging Growth 935,381 11,515 946,897 Microcap Growth 1,812,660 127,042 1,939,702 Mid Cap Recovery 345,193 60,291 405,484 Mutual Funds at NTA 1,088 (167,757) (166,668) Small Cap Growth 376,890 75,002 451,892 Small Cap Recovery 1,585,157 114,143 1,699,300

Other:

Behrman Captial 0 (29,094) (29,094) Compass Pass Through (15,524) (522,281) (537,805) Driehaus Asia Pacific 0 308,854 308,854 Driehaus Quant International 409,164 (7,469) 401,695 Driehaus Int'I Discovery 0 (400,326) (400,326) . GMG Captial 4,393 0 4,393 GMS Capital 26 3,568 3,594 Firebird 61,088 331,939 393,027 Mellin Small Cap Fund (209,032) (622,474) (831,506) Orchid Asia II 0 (19,808) (19,808)

Totals 15,215,058 (1,726,943) 13,488,115

RHDF WASH SALES 2002

RHDF-ELITE 110,562

RHDF - ALLCAP 7,122

RHDF-EMERGING GROWTH 97,756

RHDF-MICRO CAP 21,712

RHDF-MID CAP RECOVERY 13,399

RHDF-RECOVERY 26,530

RHDF-SMALL CAP 14,742

291,823

15,506,881 -1726943 13,779,938 SHE RICHARD H . DRIEHAUS FOUNDATION 36-3261347

FORM 990-PF OTHER INCOME STATEMENT

DESCRIPTION AMOUNT

COMPASS PASS THROUGH SEC 988 <2,838 .> FIREBIRD FUNDS SEC 988 <9,999 .> DQIF SEC 988 <469 .> ORDINARY INCOME K-1 : GMG CAPITAL <24,326 .> OGMS CAPITAL <7,543 .> COMPASS PASS THROUGH <8,655 .> MELLIN SMALL CAP 31 . GMS CAPITAL 36 . COMPASS PASS THROUGH 230 . BEHRMAN CAPITAL <1,095 .>

TOTAL TO FORM 990-PF, PART I, LINE 11, COLUMN A <54,628 .>

FORM 990-PF LEGAL FEES STATEMENT

(A) (B) (C) (D) EXPENSES NET INVEST- ADJUSTED CHARITABLE DESCRIPTION PER BOOKS MENT INCOME NET INCOME PURPOSES

* QUARLES & BRADY 26,036 . 13,018 . 13,018 .

TO FM 990-PF, PG 1, LN 16A 26,036 . 13,018 . 13,018 .

FORM 990-PF OTHER PROFESSIONAL FEES STATEMENT

EXPENSES NET INVEST- ADJUSTED CHARITABLE DESCRIPTION PER BOOKS MENT INCOME NET INCOME PURPOSES

DIMEO SCHNEIDER - ADVISORY FEES 20,250 . 20,250 . 0 . DRIEHAUS CAPITAL MGMT - MANAGEMENT FEES 237,733 . 237,733 . 0 . BLASART - CONSULTING FEES 880 . 0 . 880 . DRIEHAUS ENTERPRISE MGMT - PROFESSIONAL FEES 6,000 . 3,000 . 3,000 . CAROLINE GIRGIS - CONSULTING FEES 6,822 . 0 . 6,822 . ERIC ZIEGENHAGEN - CONSULTING FEES 2,487 . 0 . 2,487 . GINGER FARLEY - CONSULTING FEES 5,700 . 0 . 5,700 .

15 STATEMENT S) 1, 2, 3 09400226 710857 DRIEHAUS 2002 .09000 THE RICHARD H . DRIEHAUS FOU DRIEHA02 THE RICHARD H . DRIEHAUS FOUNDATION 36-3261347

I IAN BELKNAP - CONSULTING FEES 1,990 . 0 . 1,990 . LAURA KREEGER - CONSULTING FEES 3,014 . 0 . 3,014 . ~SUSAN JOHNSON DESIGN - CONSULTING FEES 10,021 . 0 . 10,021 . YUAN B . MO - CONSULTING FEES 225 . 0 . 225 .

TO FORM 990-PF, PG 1, LN 16C 295,122 . 260,983 . 34,139 .

FORM 990-PF TAXES STATEMENT 5

(A) (B) (C) (D) EXPENSES NET INVEST- ADJUSTED CHARITABLE DESCRIPTION PER HOOKS MENT INCOME NET INCOME PURPOSES

FOREIGN TAXES 16,084 . 16,084 . 0 . 2003 ESTIMATED TAXES 134,692 . 0 . 0 .

TO FORM 990-PF, PG 1, LN 18 150,776 . 16,084 . 0 .

FORM 990-PF OTHER EXPENSES STATEMENT r

(A) (B) (C) (D) EXPENSES NET INVEST- ADJUSTED CHARITABLE DESCRIPTION PER BOOKS MENT INCOME NET INCOME PURPOSES

" DATA PROCESSING FEES 4,435 . 0 . 4,435 . DUES EXPENSE 3,510 . 0 . 3,510 . PARTICIPATION PROGRAM 7,050 . 0 . 7,050 . BANK FEES 795 . 0 . 795 . SUBSCRIPTION 351 . 0 . 351 . DRIEHAUS QUANT INTERNATIONAL " FUND 21,760 . 21,760 . 0 . COMPASS PASS THROUGH 128,240 . 128,240 . 0 . FIREBIRD 25,713 . 25,713 . 0 . GMT COMMUNICATION 22,207 . 22,207 . 0 . BEHRMAN CAPITAL 5,120 . 5,120 . 0 . MELLIN SMALL CAP 24,896 . 24,896 . 0 . COMPASS PASS THROUGH 896 . 896 . 0 . ORCHID ASIA 18,853 . 18,853 . 0 . INSURANCE 1,373 . 0 . 1,373 . OFFICE EXPENSES 35,622 . 0 . 35,622 . OUTSIDE SERVICES 7,073 . 0 . 7,073 .

TO FORM 990-PF, PG 1, LN 23 307,894 . 247,685 . 60,209 .

16 STATEMENT S) 3, 4, 5 09400226 710857 DRIEHAUS 2002 .09000 THE RICHARD H . DRIEHAUS FOU DRIEHA02 10 THE RICHARD H . DRIEHAUS FOUNDATION 36-3261347

FORM 990-PF CORPORATE STOCK STATEMENT 7

FAlR MARKET DESCRIPTION BOOK VALUE VALUE

STOCKS (SEE STATEMENT 7A) 29,255,584 . 29,255,584 . INV . MELLIN SMALL CAP FUND 1,472,115 . 1,472,115 . INV . COMPASS PASS THROUGH FUND 2,663,951 . 2,663,951 . "INV . BEHRMAN CAPITAL II 371,848 . 371,848 . INV . DRIEHAUS ASIA PACIFIC FUND 0 . 0 . i MUTUAL FUNDS AT NTA (SEE ATTACHED) 0 . 0 . INV . DRIEHAUS INTERNATIONAL DISCOVERY 7,786,041 . 7,786,041 . INV. ORCHID ASIA II 735,425 . 735,425 . INV . DRIEHAUS QUANTITATIVE INTERNATIONAL FUND ' 0 . 0 . ~*INV . GMS CAPITAL PARTNERS 283,381 . 283,381 . '' INV . GMT COMMUNICATIONS 888,134 . 888,134 . INV GMG CAPITAL PARTNER III 960,007 . 960,007 . LASALLE ASIA RECOVERY INTERNATIONAL L .P . 3,922,026 . 3,922,026 .

TOTAL TO FORM 990-PF, PART II, LINE lOB 48,338,512 . 48,338,512 .

FORM 990-PF OTHER ASSETS STATEMENT 8

FAIR MARKET DESCRIPTION BOOK VALUE VALUE

SECURITY DEPOSIT/OTHER 1,667 . 1,667 . DIVIDEND RECEIVABLE 7,183 . 7,183 . PREPAID TAXES 97,327 . 97,327 .

TOTAL TO FORM 990-PF, PART II, LINE 15 106,177 . 106,177 .

FORM 990-PF PART XV - LINE 1B STATEMENT 9 LIST OF FOUNDATION MANAGERS

NAME OF MANAGER

RICHARD H . DRIEHAUS DOROTHY MELLIN

17 STATEMENT S) 6, 7, 8 D9400226 710857 DRIEHAUS 2002 .09000 THE RICHARD H . DRIEHAUS FOU DRIEHA02 i

I THE RICHARD H. DRIEHAUS FOUNDATION Employer Identification Nn 36-3261347

Fiscal Year Ending October 31, 2003

Part VII-13

Question 5(c) - Taxes on Taxable Expenditures

Information relating to grants subject to expenditure responsibility :

0 Grantee: The Richard H. Driehaus Museum 25 East Erie Chicago, IL 60611 I Date Paid : June 20, 2002

Amount: $125,000

Purpose: Partial support for the creation of the Richard H. Driehaus Gallery at Chicago Navy Pier

Amount of Grant Spent by Grantee: $75,637 .02

Diversion: To the knowledge of the Foundation and based on reports furnished by the Grantee, no part of the grant has been used for other than its intended purpose.

Date of Report for Grantee : February 9, 2004

In addition to the report covering the use of the grant funds, Richard H. Driehaus, a Board members and officer of the Foundation, is also an officer and director of The Richard H. Driehaus Museum and has independent knowledge that the funds have been used for the intended purpose.

QBCHIl363991 I 0 I

THE RICHARD H. DRIEHAUS FOUNDATION " Employer Identification 1~~~ ")6-3261347

Fiscal Year Ending October 31, 2003

Part VII-B

Question 5(c) - Taxes on Taxable Expenditures

Information relating to grants subject to expenditure responsibility :

" Grantee : 500 Clown 161 West Harrison, Apt. 1206 Chicago, IL 60605

Date Paid : October 29, 2003

Amount : $5,000

Purpose: General operating support

" Amount of Grant Spent by Grantee: $0

Diversion : To the knowledge of the Foundation and based on reports furnished by the Grantee, no part of the grant has been used for other than its intended purpose.

Date of Report for Grantee: January 31, 2004

QBCH I\3G3991 I THE RICHARD H. DRIEHAUS FOUNDATION " Employer Tdentification Nn 36-321347

Fiscal Year Ending October 31, 2003

Part VII-B 40 Question 5(c) - Taxes on Taxable Expenditures

Information relating to grants subject to expenditure responsibility:

Grantee : Marin Corp Productions 2042 N. Fremont, Suite 100 Chicago, IL 60614

I Date Paid : April l, 2003

Amount : $60,000

Purpose: Creation of documentary film "The Seminarians," formerly titled "The Bells of Mt. Saint Mary's" and documentary "Lila's Hope."

Amount of Grant Spent by Grantee: $60,000

Diversion : To the knowledge of the Foundation and based on reports furnished by the Grantee, no part of the grant has been used for other than its intended purpose.

Date of Report for Grantee: December 1, 2003

QBCHW63991 . I THE RICHARD H. DRIEHAUS FOUNDATION Emrlnver Tdentification No 36-3261347 I " Fiscal Year Ending October 31, 2003

Part VII-B

Question 5(c) - Taxes on Taxable Expenditures

Information relating to grants subject to expenditure responsibility:

Grantee: The Richard H. Driehaus Museum 25 East Erie Chicago, IL 60611

Date Paid : December 12, 2002

Amount: $18,720

Purpose: Architectural drawing for improvement of the Nickerson Mansion

Amount of Grant Spent by Grantee: $18,720

Diversion: To the knowledge of the Foundation and based on reports furnished by the Grantee, no part of the grant has been used for other than its intended purpose.

Date of Report for Grantee : February 9, 2004

QBCH1\363991 I 0 I THE RICHARD H. DRIEHAUS FOUNDATION Employer Tdentification No 36-3261347

Fiscal Year Ending October 31, 2003

Part VII-B

Question 5(c) - Taxes on Taxable Expenditures

Information relating to grants subject to expenditure responsibility:

Grantee : The Richard H. Driehaus Museum 25 East Erie Chicago, IL 6061 1

Date Paid : April 4, 2003

Amount: $500,000

Purpose: Nickerson Mansion acquisition and restoration

Amount of Grant Spent by Grantee: $500,000

Diversion : To the knowledge of the Foundation and based on reports furnished by the Grantee, no part of the grant has been used for other than its intended purpose.

Date of Report for Grantee: February 9, 2004 41 In addition to the report covering the use of the grant funds, Richard H. Driehaus, a Board members and officer of the Foundation, is also an officer and director of The Richard H. Driehaus Museum and has independent knowledge that the funds have been used for the intended purpose.

QBCHI\363991 I ".

THE RICHARD H. DRIEHAUS FOUNDATION Employer identification No 36-3261347 40 Fiscal Year Ending October 31, 2003

Part VII-B

Question 5(c) - Taxes on Taxable Expenditures

Information relating to grants subject to expenditure responsibility:

Grantee: The Richard H. Driehaus Museum 25 East Erie Chicago, IL 60611

Date Paid: September 25, 2003

Amount: $1,000,000

Purpose : Nickerson Mansion acquisition and restoration

" Amount of Grant Spent by Grantee: $156,073

Diversion: To the knowledge of the Foundation and based on reports furnished by the Grantee, no part of the grant has been used for other than its intended purpose.

Date of Report for Grantee: February 9, 2004

QBCH1\363991 1 STATEMENT ATTACHED TO AND MADE PART OF U.S . RETURN OF PRIVATE FOUNDATION, FORM 990-PF FOR THE YEAR ENDED OCTOBER 31, 2003

THE RICHARD H. DRIEHAUS FOUNDATION FEIN: 36-3261347

The above taxpayer is making an election under Regulations section 53 .4942(a)-3(d)(2) for its distribution for the taxable year ending October 31, 2003 of $ 5,523,740 is to be made out of corpus.

287077V I 1 Return of U.S. Persons With Respect to OMB No 1545.1668 " ~ Form 8865 Certain Foreign Partnerships " Attach to your tax return . See separate Instructions . 202 Department of Me Treasury Information furnished for the foreign partnership's tax year Attachment Internal Revenue Service (see instructions) beginning 1 / 1 , 2002, and ending 12/31 .2002 Sequence No. 118 Important Ali information must be in English A!! amounts must be m U S dollars unless othermse indicated Name of person filing this return Filer's Identifying number THE RICHARD H . DRIEHAUS FOUNDATION I 3~r-3a ~ ~3~7 Filer's address (if you are not filing this form with your tax return) A Category of filer (see Categories of Fliers in we instructions and check applicable a5 EAsr ERIE srREEr 0 IL (oQ(vlI B Filers tax year beginning Z/ 1 .20 02 , and ending 12/31 , yp 02 I " CRIME70 C Filer's share of liabilities: Nonrecourse $ Qualified nonrecourse financing $ Other $ 57,880 D If filer is a member of a consolidated group but not the parent, enter the following information about the parent : Name EIN Address

E Information about certain other partners (see instructions) (4) Check applicable boxes) (1) Name (2) Address (3) Identifying number Cateaorv 1 Cateaorv 2 Constnidm mvner

F1 Name and address of foreign partnership 2 EfN (if any) LASALLE ASIA RECOVERY INTERNATIONAL I, L .P . APPLIED FOR 33 CAVENDISH SQUARE PO BOX 2326 3 Country under whose laws organized LONDON W1A 2NF UNITED KINGDOM UNITED KINGDOM 4 Date of 5 Principal place 6 Principal business 7 Principal business 8a Functional currency 8b Exchange rate organization of business activity code number activity (see instr.) 5 /30 / 2002 UNITED KINGDOM 531390 (REAL ESTATE US DOLLAR 1 .0000 G Provide the following information for the foreign partnership's tai 1 Name, address, and identifying number of agent (if any) in the 2 Check if the foreign partnership must file: United States Form 1042 []Form 8804 E)Form 1065 or 1065-B PRICEWATERHOUSECOOPSRS, LLP Service Center where Form 1065 or 1065-B is filed: 1 N. WACKER, CHICAGO, IL 60606 3 Name and address of foreign partnership's agent in country of 4 Name and address of person(s) with custody of the books and organization, if any records of the foreign partnership, and the location at such books and records, if different N/A NICOLE RHOO 9 RAFFLES PLACE #37-04 REPUBLIC PLAZA 1 SINGAPORE 048619 5 Were any special allocations made by the foreign partnership? ...... 10. Yes FXJ No 6 Number of foreign disregarded entities owned by the partnership (attach fist) ...... 00. 0 7 How is this partnership classed under the law of the country in which it is organized? ...... ),. PARTNERSHIP 8 Did the partnership own any separate units within the meaning of Regulations section 1.1503-2(c)(3) or (4)? ...... 10. Yes RX No 9 Does this partnership meet both of the following requirements? a The partnership's total receipts for the tax year were less than $250,000 and " 0 The value of the partnership's total ets at t tax year was less than $600,000...... ~ Yes CK No If "Yes ; do not complete Sched I s Q - nil M-2. Sign Here Only Under penalties of p9qury, I d that I have examined this return, Including accompanying schedules and statements, and to the best of my knowledge If You A» and belief, it is true!COrr , a complete cta~ on of pFeparer (other than general partner or limited liability company member) is based on all Filing This information wfi`ch p, h s any kr~~041ed,p Form f s.w.auiyand ',r//-: HotwthYour - _ ~-l/ I / O`ooY' Tax Return ' Si aV e of general partner or limited liability company member ' Date " Paid Pnparsr Date Preparer's SSN or PTIN Sign and Prepary~t''S' Check d Complete sign4k~re 1 self-employed Only it Form Firm's name (or EIN If- Is Filed yours d self-employed), Separately. address, and ZIP code 1 Phone no.

For Paperwork Reduction Act Notice, see the separate instructions. Form 8865 (2002) Isn I STFFED905iF 1 Forty 8865 (2002) Page 2 SchecluleAconstructive Ownership of Partnership Interest Check the boxes that apply to the filer. If you check box b, enter the name, address, and U.S. taxpayer identifying number (if any) of the person(s) whose interest you constructively own. See instructions. a n Owns a direct interest b n Owns a constructive interest

rlzmie Address Identifying numhei (if any) foreign direct person partner

Sch°`eciule"~,.,i4A; Certain Partners of Forei n Partnership (see instructi s) Check if Name Address Identifying number (if arty) foreign person

Does the partnership have any other foreign person as a direct partner? ...... 53 Yes E] No ScheduleA=2T Affiliation Schedule. List all partnerships (foreign or domestic) in which the foreign partnership owns a direct interest or indirectly owns a 10% interest. Check if EIN Total ordinary foreign Name Address (if any) income or loss ,-,,;

I Schedule'B.1 Income Statement-Trade or Business Income Caution: Include only trade or business income and expenses on lines 7a through 22 below. See the instructions for more information.

1 a Gross receipts or sales ...... 1a b Less returns and allowances ...... 1b 2 Cost of goods sold ...... 40 m 3 Gross profit. Subtract line 2 from line 1c ...... 4 Ordinary income (loss) from other partnerships, estates, and trusts (attach schedule) ...... 5 Net farm profit (loss) (attach Schedule F (Form 1040)) ...... 6 Net gain (loss) from Form 4797, Part II, line 18 ...... 7 Other income (loss) (attach schedule) ......

8 Total income (loss). Combine lines 3 through 7 ...... 8 9 Salaries and wages (other than to partners) (less employment credits) ...... 9 10 Guaranteed payments to partners ...... 10 11 Repairs and maintenance ...... 11 Q 12 Bad debts ...... 12 ° 13 Rent . 13 " ~ 14 Taxes. and licenses ...... '. . .. .'...... '...... '...... 14 o 15 Interest ...... 15 q 16a Depreciation (if required, attach Form 4562) ...... 16a b Less depreciation reported on Schedule A and elsewhere on return . . 16b 161 N 17 Depletion (Do not deduct oil and gas depletion .) ...... 17 0 18 Retirement plans, etc...... 18 19 Employee benefit programs ...... 0 20 Other deductions (attach schedule) ...... G1 D 21 Total deductions. Add the amounts shown in the far right column for lines 9 through 20 . . . . . 121

22 Ordinary income (loss) from trade or business activities . Subtract line 21 from line 8 ...... 122 Form 8865 (2002) STFFED9051F2 0 SCHEDULE O Transfer of Property to a Foreign Partnership OMB No. 1545 7668 (Form 8865) (under section 60388) Departrnentofthe Treasury 2002 btemal Revenue Service " Attach to Forth 8865 . See Instructions for Form 8865. Name of transferor Filers identifying number THE RICHARD H . DRIEHAUS FOUNDATION Name of foreign partnership LASALLB ASIA RECOVERY INTERNATIONAL I, LP

RP-7 ait;C Transfers Reportable Under Section 60388 (a) (b) (c) (d) (e) (Q (g) Type of Date of Number of Fair market Cost or other Section 704(c) Gain Percentage interest property transfer Items value on date basis allocation recognized on In partnership after transferred o! transfer method transfer transfer Cash r~60 rye OR id. .#~ll 5130/2002 739,236 2 .00$ Marketable securities

Inventory

Tangible property used in trade or business

Intangible " property

Other property

Supplemental Information Required To Be Reported (see instructions):

;Pai'tll, Dispositions Reportable Under Section 60388

(b) (c) (d) (8) (n (9) Type of Date of Date of Manner of Gain Depreciation Gain allocated Depreciation properly onginat disposition disposition recognized by recapture to partner recapture allocated transfer partnership recognized to partner by partnership

rl aR-~~!~i Is any transfer reported on this schedule subject to gain recognition under section 9040(3) or section 904(f)(5)(F)? ...... 10. [] Yes No For Paperwork Reduction Act Notice, see the Instructions for Form 8865 . Schedule O (Forth 8865) 2002

ISA STF FED9053F STATEMENT # 7A 36-3261347

The Richard H. Driehaus Foundation SUMMARY OF CORPORATE STOCKS Year ending October 31, 2003

Fair Market Value

Allcap Growth 1,357,371 Best Ideas- ( #06056300) 14,300,29C Emerging Growth 2,198,38E Microcap Growth 3,065,215 Mid Cap Recovery 1,483,343 Small Cap Growth 1,584,888 Small Cap Recovery 5,266,091

Total 29,255,584 DRIEHAUS CAPITAL MANAGEMENT, INC. Monday Jariiiary 26, 2004 11 :42:40 Page 1 SECURITY PORTFOLIO for l0/3l/2003 PRICING DATE : 10/3I/2003 06056519 --- RHD FOUNDATION - ALLCAP

Ticker/ Unit Closing Market Unrealized Pct Of uantit Security Description Setl Date Cost Cost Price Value Gain (-Loss) Mkt Val

280 A.S.V. Inc. ASVI 6,538 23 .350 22.900 6,412 -126 0.46% 374 ADE Corp . ADEX 6,580 17.594 24.250 9,070 2,489 0.65% 417 Advanced Digital Info. Corp. ADIC 6,923 16 602 16.260 6,780 -143 0.48% 483 Advanced Micro Devices AMD 6,921 14.330 15 .200 7,342 420 0.52% 252 Agilent Technologies Inc A 6,020 23 .890 24.920 6,280 260 0.45% 1,391 Akamai Technologies Inc AKAM 6,741 4.846 7.900 10,989 4,248 0.79% 223 Alaska Airgroup Inc. ALK 6,576 29 .489 28.790 6,420 -156 0.46% 228 Alcoa Inc AA 6,904 30 .280 31 .570 7,198 294 0.51% 166 Amazon.Com Inc . AMZN 2,473 14.900 54.430 9,035 6,562 0.65% 702 America West Holdings Corp. - B AWA 6,134 8.739 14 .420 10,123 3,988 0.72% 707 American Superconductor Corp. AMSC 5,806 8.212 9.650 6,823 1,017 0.49% 585 Ameritrade Holding Corp. AMTD 4,984 8.520 13 .710 8,020 3,036 0.57% 313 Anglo American Plc-unsp Adr AAUK 5,767 18.426 20.420 6,391 624 0.46% 291 Apple Computer Inc. AAPL 6,105 20 .981 22.890 6,661 556 0.48% 869 Artesyn Technologies Inc. ATSN 5,731 6.595 8.230 7,152 1,420 051% 356 Ascential Software Corp ASCL 6,619 18.592 22.290 7,935 1,317 0.57% 795 ASE Test Limited ASTSF 5,804 7.300 12 .400 9,858 4,054 0.7010 541 Aspect Communications Corp ASPT 7,001 12.941 13 .540 7,325 324 0.52"!0 419 AT[ Technologies Inc ADR ATYT 2,342 5.590 14.340 6,008 3,666 0.43% 574 August Technology Corp AUGT 4,733 8 246 19.400 11,136 6,402 0.80% 505 Avaya Inc AV 2,564 5.077 12 .940 6,535 3,971 0.47% 523 Bio Reference Labs Inc. BRLI 6,635 12.687 16.590 8,677 2,041 0.62% 233 Bradley Pharmaceuticals Inc BDY 5,719 24 .545 26 .870 6,261 542 0.45% 107 Briggs & Stratton BGG 6,857 64 .080 65.010 6,956 100 0.50% 252 [3rightpoint inc . CELL 2,811 11 .156 28.650 7,220 4,408 0.52'70 220 Broadcom Corp. - CI. A BRCM 6,885 31 .297 31 .940 7,027 142 0.50% 249 Brooks Automation Inc BRKS 6,523 26196 24.930 6,208 -315 0.44% 321 Brunswick Corp. BC 8,174 25 .464 29.670 9,524 1,350 0.6870 939 California Amplifier Inc . CAMP 6,996 7.450 9.900 9,296 2,301 0.66°!0 848 California Micro Devices Corp. CAMD 6,746 7.956 8.480 7,191 445 0.51 % 166 Carver Access Corp . CACS 1,595 9.610 10.100 1,677 81 0.12% 93 Caterpillar Inc. CAT 6,199 66 .652 73.280 6,815 616 049% 860 C-COR.net Corporation CCBL 7,095 8.250 10.080 8,669 1,574 0.62% 274 Ceradyne Inc. CRDN 5,710 20 .840 41 .540 11,382 5,672 0.81% 1,150 Ceragaon Networks Limited CRNT 7,083 6.159 5.960 6,854 -229 0.49% 1,820 Chordiant Software Inc . CHRD 6,741 3.704 4.400 8,008 1,267 0.57% 1,060 Cirrus Logic Inc . CRUS 6,371 6.011 8.160 8,650 2,278 0.62'i'o 192 Coach Inc. COH 6,647 34 .618 35.470 6,810 164 0.49% 311 Commercial Metals Co. CMC 7,022 22.580 24 680 7,675 653 0.55'0 266 Comtech Telecommunications CMTL 6,570 24 .700 29 .450 7,834 1,264 0.56% 11 :40 DRIEHAUS CAPITAL MANAGEMENT, INC. Monday Janirary 26, 2004 :42 Page 2 SECURITY PORTFOLIO for 10/31/2003 PRICING DATE : 10/31/2003 06056519--- RHD FOUNDATION - ALLCAP

Ticker/ Unit Closing Market Unrealized Pct Of uantil Security Description Setl Pate Cost Cost Price Value Cain (-Loss) Mkt Val

468 Comverse Technology Inc. CMVT 5,653 12 .080 18 .040 8,443 2,789 0.60% 554 Concord Camera Corp . LENS 6,270 11 .318 12 .840 7,113 843 0.51% 357 Continental Airlines - Class B CAL 6,570 18.403 19 .100 6,819 249 0.49/0 870 Coming Inc. GLW 4,568 5.250 10.980 9,553 4,985 0.68% 73 Countrywide Financial Corp CFC 6,963 95390 105 .120 7,674 710 0.55% 230 Cubic Corp . CUB 5,589 24 .299 28 400 6,532 943 0.47% 119 Cummins Engine cum 5,580 46 .893 47.400 5,641 60 040% 365 Cypress Semiconductor Corp . CY 5,978 16 379 21 .460 7,833 1,854 0.56/0 417 Deutsche Telekom AG - Spon . ADR DT 6,083 14 587 15.610 6,509 427 0.47% 1,002 Diamondcluster Intl. DTPI 6,056 6.044 8.900 8,918 2,862 0.64% 164 Dionex Corp . DNEX 6,904 42 .100 42 .540 6,977 72 0.50/0 878 Ditech Communications DITC 6,615 7.534 10.540 9,254 2,639 066% 285 Dycom Industries Inc. DY 6,524 22 891 21 .610 6,159 -365 0.44/0 1,103 Epiphany Inc EPNY 6,748 6.118 6.940 7,655 907 0.55% 67 Eaton Corp. ETN 5,546 82.774 100.240 6,716 1,170 0.48% 742 EMC Corp ./Mass . EMC 5,936 8.000 13 .840 10,269 4,333 0.7370 830 Epic Design Tech EPIC 5,677 6 840 10.130 8,408 2,731 0.60/0 377 Ericsson (L.M.) Tel Co-Spons ADR ERICY 6,940 18.410 17 .080 6,439 -501 0.46% 94 Fannie Mae FNM 6,944 73 .868 71 .690 6,739 -205 0.48% 251 Filenet Corp . FILE 6,511 25 .940 26.720 6,707 196 0.48% 114 Florida Rock Inds. FRK 5,702 50 .015 57.250 6,527 825 0.47% 680 Free Markets FMKT 6,630 9.750 6 260 4,257 -2,373 0.30% 413 Fremont Gen Corp FMT 6,632 16 058 16.630 6,868 236 0.49% 442 General Motors - Class H GM H 6,935 15.690 16 430 7,262 327 0.52% 685 Goody's Family Clothing Inc . GDYS 7,047 10 288 10.540 7,220 173 0.52/0 694 GraRech International Ltd GTI 6,884 9.919 10.390 7,211 327 0.52°!0 545 GSI Commerce Inc GSIC 5,652 10.370 9.760 5,319 -332 0.38/0 820 Harmonic Lightwaves Inc . HLIT 7,048 8.595 7.750 6,355 -693 0.45°!0 302 Hasbro Inc. HAS 6,650 22.020 21 .800 6,584 -66 0.47% 328 Haverty Furniture HVT 6,984 21 .294 20 .750 6,806 -178 0.49/0 374 Helix Technology Corp. HELX 6,133 16.398 17 .950 6,713 580 0.48% 125 Hovnanian Enterprises - A HOV 4,449 35.590 81 .280 10,160 5,711 0.73% 927 (MANAGE INC (MAN 6,746 7.277 9.150 8,482 1,737 0.61% 236 Inco Ltd N 6,747 28.590 33 200 7,835 1,088 0.56/0 476 Infineon Technologies Adr IFX 6,703 14.083 14 .700 6,997 294 0.50 1,444 Inkine Pharmaceutical Co INKP 6,770 4.688 5350 7,725 955 0.55% 477 Innovex Inc . 1NVX 6,144 12.880 11 .300 5,390 -754 0.39% 346 Inspire Pharmaceuticals Inc ISPH 7,035 20.333 !8 .620 6,443 -593 0.46% 480 Integrated Device Technology Inc. (DTI 6,638 13 .829 15 .750 7,560 922 0.54% 502 Integrated Silicon Solut :SS! 6,621 13 .190 14 .120 7,088 467 0.51%

40 0 DRIEHAUS CAPITAL MANAGEMENT, INC. Monday Jmrcrary 26, 2004 11:42:40 Page 3 SECURITY PORTFOLIO for 10/31/2003 PRICING DATE : l0/31/2003 06056519--- RHD FOUNDATION - ALLCAP

Ticker/ Unit Closing Market Unrealized Pct Of uantit Security Uescrintion Sell Pate Cost Cost Price Value Gain (-Loss) Mkt Val

231 Intel Corp . INTC 5,618 24 .319 32 .950 7,611 1,994 0.54% 209 Inter-Tel Inc. INTL 5,036 24 .043 25 .240 5,275 240 0.38% 757 Intervoice Inc. INTV 6,197 8.187 10.620 8,039 1,842 0.57% 211 lntl . (lame Technology lOT 6,163 29 .210 32 .750 6,910 747 0.49% 450 Intrawest Corporation IDR 6,659 14.799 16.810 7,564 905 0.54% 588 lxla XXIA 6,245 10,620 12.000 7,056 811 0.50% 313 1 D A Software Group Inc 1bAS 6,642 21 .221 21 .410 6,701 39 0.48°fi 120 JetBlue Airways Corp JBLU 5,575 46 .458 57 .670 6,920 1,345 0.49% 224 John B. Sanfilippo & Son !BSS 6,510 29 .064 34.350 7,694 1,184 0.55% 160 Jos A Bank Clothiers Inc JOSB 5,591 34 .941 43370 6,939 1,349 0.50% 154 K-Swiss Inc. - Cl. A KSWS 5,558 36 .090 44 .100 6,791 1,234 0.49%n 543 Lance Inc. LNCE 6,625 12.200 13 .010 7,064 440 0.50/0 79 Lennar Corp. LEN 6,590 83 .420 91 .850 7,256 666 0.52% 538 L.exar Media Inc. LEXR 5,814 10.806 22 .910 12,326 6,512 0.8810 163 Linear Technology Corp . LLTC 6,613 40 .570 42 .610 6,945 333 0.50% 768 [.ionbridge Technologies Inc . LIOX 6,068 7.901 9.030 6,935 867 0.50% 852 Luminex Corp LMNX 7,166 8.411 8.770 7,472 306 0.53% 2,084 M R V Communications MRVC 6,797 3.262 3.080 6,419 -379 0.46% 574 M Systems Fish Dsk Pionr FL.SH 4,964 8.649 19 .850 11,394 6,430 0.81% ?48 M/I Schottenstein Homes Inc. MHO 6,672 45 .080 41 .630 6,161 -511 0.44% 473 Mattson Technology Inc MTSN 6,536 13.819 14.210 6,721 185 0.48% 139 Mdc Holdings Inc . MDC 5,658 40 .703 67.320 9,357 3,700 0.67% 622 Merix Corp MERX 6,265 10.072 17 .790 11,065 4,801 0.79% 435 Micrel Inc MCRL 6,690 15.380 16.520 7,186 446 0.51 % 412 Microsemi Corp. MSCC 5,079 12.327 20.710 8,533 3,454 0.61°l0 92 Mobile Telesystems - Sp ADR MBT 6,569 71 .400 77 .490 7,129 560 0.51% 672 Mobility Electronics Inc MOBE 6,936 10.322 9.700 6,518 -418 0.47% 506 Motorola Inc . MOT 6,993 13.820 13 .530 6,846 -147 0.49% 197 National Semiconductor Corp NSM 6,622 33 .616 40.630 8,004 1,382 0.57% 417 Navigant Consulting Co NCI 5,653 13.557 !6.430 6,851 1,198 0.49% 148 IVetease.com Inc . ADR IVTES 1,048 7.080 45.400 6,719 5,671 0.48% 683 Netegritylnc . NETS 4,971 7.278 11 .860 8,100 3,129 0.58/0 186 Netflix Inc IVFLX 2,299 12.361 57.300 10,658 8,359 0.76% 279 Network Appliance Corp NTAP 6,573 23 .559 24 .690 6,889 315 0.49°!0 1,023 Network Engines Inc NENG 6,655 6506 9.820 10,046 3,391 0.72g'o 252 Nordstrom Inc . JWN 5,713 22 .670 30.490 7,683 1,971 0.55% 648 Northwest Airlines Corp NWAC 6,542 10.096 13 .700 8,878 2,335 0.63% 1,143 Novel! Inc NOVL 6,732 5.890 5 870 6,709 -23 0.48% 2,401 Oplink Communications Inc OPLK 6,479 2.699 2.340 5,618 -861 0.40% 94 Oxford Industries Inc . OXM 6,589 70.100 68.500 6,439 -150 0.46% DRIEHAUS CAPITAL MANAGEMENT, INC. Monday January 26, 2004 11:42:40 Page 4 SECURITY PORTFOLIO for l0/31/2003 PRICING DATE : IO/3l/2003 06056519--- RHD FOUNDATION - ALLCAP

Ticker/ Unit Closing Market Unrealized Pct Of uantit Security Description Setl Pate Cost Cost Price Value Gain (-boss) Mkt Val

253 PalmOne Inc. PLMO 3,952 15 .621 14.460 3,658 -294 0.26% 78 PalmSource Inc PSRC 2,746 35210 38 .170 2,977 231 0.21 % 355 Panamsat Corp SPOT 6,955 19 .591 20 .700 7,349 394 0.53% 337 Peoplesoft Inc . PSFI' 6,958 20 648 20 850 7,026 68 0.50% 486 Performance Tech Inc PTIX 6,211 12 .780 10.390 5,050 -1,162 0.36% 536 Petroleum Development Corp . PETD 6,782 12 .653 13 .250 7,102 320 0.51% 121 Phelps Dodge Corp . PD 6,933 57.300 61 .740 7,471 537 053% 218 Photon Dynamics Inc PHTN 6,870 31 .514 37 .820 8,245 1,375 059% 347 Photronics Inc . PLAB 5,583 16.090 21 .540 7,474 1,891 0.53% 386 Plexus Corp . PLXS 6,686 17 .320 17 .350 6,697 12 0.48% 409 PMC - Sierra Inc. PMCS 6,937 16.960 18 .170 7,432 495 0.5310 211 Potlatch Corp. PCH 6,060 28.720 31 .260 6,596 536 0.47/0 555 QAD Inc . QADI 6,393 11 .518 11 .690 6,488 95 0.46% 343 Radisys Corp RSYS 6,568 19.148 19 .550 6,706 138 0.48% 297 Radware Ltd RDWR 6,675 22 .473 23 .130 6,870 195 0.49°!0 630 Red Hat Inc. RHAT 6,848 10.870 15 .010 9,456 2,608 0.68% 255 Reliance Steel & Aluminm RS 6,908 27 .090 28.700 7,319 411 0.52% 623 Remec Inc REMC 6,152 9.875 11 .030 6,872 720 0.49/0 190 Research in Motion Inc R1MM 4,155 21 .870 44 .120 8,383 4,227 0.60% 245 Reuters Holdings PLC - Sports. ADR RTRSY 5,632 22 .958 26 340 6,453 821 0.4610 768 RF Micro Devices Inc RFMD 5,835 7.597 11 .690 8,978 3,143 0.64% 1,191 Rite Aid Corp. RAD 6,753 5.670 5 .730 6,824 71 0.4970 176 Ryder System Inc. R 4,624 26 .273 30 000 5,280 656 038% 1,812 Safeguard Scientifics Inc . SFE 6,819 3.763 3.810 6,904 85 0.49% 100 Sandisk Corp SNDK 2,439 24 .390 80 .600 8,060 5,621 0.58"/n 171 SAP AG - Spons ADR SAP 4,295 25 .117 36 540 6,248 1,953 0.45% 1,716 Sapient Corporation SAPE 6,304 3.674 5.380 9,232 2,928 0.66"/0 173 Schnitzer Steel Inds A SCHN 6,546 37 .840 37 .540 6,494 -52 0.46% 199 Scientific-Atlanta Inc . SFA 5,590 28 .088 29 .600 5,890 301 0.42/0 490 Secure Computing Corp Internet Sec CcFsfUR 6,632 13 .536 14.380 7,046 414 0.50% 589 Sierra Wireless Inc SWIR 5,319 9.030 16.760 9,872 4,553 0.71% 127 Silicon Laboratories Inc SLAB 6,198 48 .800 54 .000 6,858 660 0.49/0 596 Silicon Storage Tech SSTI 6,842 11 .480 11 .200 6,675 -167 0.4870 744 Simpletech Inc STEC 6,762 9.089 7.850 5,840 -922 0.4270 823 Sonic Wall SNWL 6,784 8.243 8.100 6,666 -118 0.48% 1,132 Sonus Network SONS 2,737 2.418 8.230 9,316 6,579 0.67% 280 Spectralink Corporation SLNK 4,640 16.570 17.630 4,936 297 0.35% 261 Standard Microsystems Corp. SMSC 6,809 26.088 30 .000 7,830 1,021 0.56/0 162 Standard Pacific Corp . SPF 6,904 42 .620 47 .850 7,752 847 0.55% 1,309 Superconductor Tech S: 0 T: 6,54 5.042 5.110 6,689 90 0.48% DRIEHAUS CAPITAL MANAGEMENT, INC. Monday January 26, 2004 11:42:40 sage 5 SECURITY PORTFOLIOfor l0/3l/2003 PRICING DATE : l0/3l/2003 06056519 --- RHD FOUNDATION- ALLCAP

Ticker/ Unit Closing Market Unrealized Pct Of uantit Security Descriation Setl Date Cost Cost Price Value Gain (-Loss) Mkt Val

724 Support.com Inc SPRT 6,145 8.488 11 .990 8,681 2,535 0.62% 510 Taiwan Semiconductor ADR TSM 6,603 12 .947 11 .060 5,641 -962 0.40% 241 Taser International Inc TASR 6,031 25.027 62 .800 15,135 9,103 1 .08% 258 Tektronix Inc. TEK 6,907 26.770 25 .670 6,623 -284 0.47°k 800 Tele Centro Oeste Celular TRO 6,663 8.329 8.700 6,960 297 0.50% 436 Tele Danmark As CI B Adr TLD 7,188 16.486 16 .010 6,980 -207 0.50% 456 Telekomunikasi Indonesia - Sp ADR TLK 6,210 13 .619 14 .200 6,475 265 0.46% 218 Telemig Celular Participacoes ADR TMB 6,832 31340 31 .850 6,943 111 0.50% 990 Terayon Communication Sy TERN 6,318 6.382 6.870 6,801 483 0.49% 674 Tesoro Petroleum Corp . TSO 7,010 10.400 11 .400 7,684 674 0.55% 238 Texas Instruments Inc . TXN 6,669 28.020 28 .920 6,883 214 0.49% 140 Textron Inc. TXT 6,650 47.500 49 .690 6,957 307 0.50% 2,090 Transmeta Corp/Delaware TMTA 6,247 2.989 4.050 8,465 2,218 0.60% 465 Trident Microsystems TRID 5,766 12 .400 23 .200 10,788 5,022 0.77% 441 TTM Technologies TTMI 6,617 15 .004 16 .100 7,100 483 0.51% 325 Ultratech Stepper Inc. UTEK 5,135 15 .800 31 .210 10,143 5,008 0.72% 179 Veritas Software Corp VRTS 6,501 36.320 36.080 6,458 -43 0.46% 317 VISX Incorporated EYE 5,104 16.100 24 .260 7,690 2,587 0.55% 122 Winnebago Industries WGO 6,832 56.002 58.300 7,113 280 0.51% 431 Wireless Facilities, Inc . WFII 7,028 16.307 17 .150 7,392 363 0.53% 253 WMS Industries Inc. WMS 6,597 26 .074 23.130 5,852 -745 0.42% 180 Yahoo! Inc. YHOO 5,431 30 .170 43.710 7,868 2,437 0.56°!0 174 York International Corp . YRK 6,(39 35 .282 39.740 6,915 776 0.49% Stock Total -183 1,115,217 1,357,371 242,154 96.98% DRIEHAUS CAPITAL MANAGEMENT, INC. Motulay Jaiiuary 26, 2004 11:41:17 Page I SECURITY PORTFOLIO for 10/3l/2003 PRICING DATE : IO/3I/2003 06056300--- RIiD FOUNDATION

Ticker/ Unit Closing Market Unrealized Pct Of uantit Security Description Setl Date Colt Cyst Price Value Gain (-Loss) Mkt Val

33,012 Abaxis Inc . ABAX 526,098 15.937 17 .340 572,428 46,330 3 .75% 10,592 Accredited Home Lenders LEND 287,783 27 .170 28.620 303,143 15,360 1 .99% 34,617 August Technology Corp AUGT 514,882 14 .874 19.400 671,570 156,688 4.40% 26,762 AUTOBYTELINC ABTL 301,145 11 .253 10.450 279,663 -21,482 1 .8310 26,133 Brightpoint Inc. CELL 577,014 22 .080 28 .650 748,710 171,696 4.91% 23,936 California Amplifier Inc . CAMP 200,366 8.371 9.900 236,966 36,601 1 .55% 191,180 Canadian Superior Energy SNG 395,984 2071 2 .00 399,566 3,582 2.62% 8,908 Central European Distribution Corp. CEDC 270,622 30 380 37 .590 334,852 64,230 2.19'70 12,307 Ceradyne Inc . CRDIV 378,789 30.778 41 .540 511,233 132,444 3.35% 23,306 Ciphergen Biosystems Inc . CIPH 304,341 13 .058 10.910 254,268 -50,073 167% 7,025 Closure Medical Corporation CL.SR 210,768 30 003 30 .710 215,738 4,970 1 .41% 19,659 Concord Camera Corp . LENS 206,909 10.525 12.840 252,422 45,513 1 .65% 9,443 deCODE Genetics DCGN 64,604 6.841 6.960 65,723 1,120 0.43% 71,428 Diamondcluster Intl. DTPI 445,661 G.239 8.900 635,709 190,048 4 17% 14,054 Ditech Communications DITC 160,840 11 .444 10 540 148,129 -12,711 0.97% 10,022 Ecollege .com Inc ECLG 219,977 21 .949 21 .690 217,377 -2,599 1.42% 60,126 Encysive Pharmaceuticals Inc ENCY 402,077 6.687 6.330 380,598 -21,479 2.49% 5,210 Faro Technologies Inc FARO 107,793 20 .690 24 .060 125,353 17,559 0.8210 4,459 Flamel Technologies-sp Adr FLML 170,846 38 .315 25 .250 112,590 -58,256 0.74% 37,298 IMPCO Technologies Inc . IMCO 302,855 8.120 8.820 328,965 26,113 2.1610 5,229 (named Corp . IMDC 391,576 74 .885 86 .160 450,531 58,955 2.95% 65,807 Inkine Pharmaceutical Co INKP 191,472 2.910 5.350 352,067 160,596 2.31% 7,728 Inspire Pharmaceuticals Inc ISPH 133,995 17.339 18 .620 143,895 9,900 0.94% 7,027 Ivanhoe Energy Inc (VAN 33,878 4.821 4.510 31,692 -2,186 0.2110 8,085 Laserscope L.SCP 115,249 14.255 12 .710 102,7G0 -12,488 0.67% 52,875 Lionbridge Technologies Inc. LIOX 427,858 8.092 9.030 477,461 49,603 3.13°!0 13,453 M Systems Fish Dsk Pionr FISH 190,337 14.148 19 .850 267,042 76,705 1 .75% 40,387 Mattson Technology Inc MTSN 455,148 11 .270 14 .210 573,899 118,751 3.76% 7,746 Merit Medical Systems Inc. MMSI 150,431 19.421 26 .100 202,171 51,739 1 .33°!0 22,786 Merix Corp MERX 399,285 17 .523 17 .790 405,363 6,078 2.6610 11,748 Millicom Intl Cellular S.a. MICC 590,905 50 298 61 .610 723,794 132,889 4.74% 16,720 Mobility Electronics Inc MOBE 109,247 6.534 9.700 162,184 52,937 1 .06% 873 Nil Holdings Inc - CI B N1HD 60,080 68 .820 77 .000 67,221 7,141 0.44% 13,623 Petco Animal Supplies PETC 420,521 30 868 33.190 452,147 31,627 2.96/0 18,8G8 Petrokazakhstan Inc-cl A PKZ 400,067 21 .203 22 .740 429,058 28,991 2.81% 11,917 Red Robin Gourmet Burgers RRGB 309,922 26 .007 29 .520 351,790 41,8G8 2.31% 3,514 SBS Broadcasting SA SBTV 99,618 28 .349 28340 99,587 -32 0.65% 2,890 Schnitzer Steel Inds A SCHN 119,082 41 .205 37 .540 108,491 -10,592 0.71 5,845 Standard Microsystems Corp . SMSC 164,263 28 .103 30 .000 175,350 11,087 1 .15% 20,054 SunOpta Inc STKL. 100,413 5.007 9.600 192,518 92,105 1 .26%

0 --* " 0

DRIEHA US CAPITAL MANAGEMENT, INC Monday January 26, 2004 11:41:17 Page 2 SECURITY PORTFOLIO for 10/31/2003 PRICING DATE : 10/31/2003 06056300--- RHD FOUNDATION

Ticker/ Unit Closing Market Unrealized Pct Of uantit Security Descriution Sell Date Cost Cost Price Value Gain (-Loss) Mkt Val

43,074 Superconductor Tech SCON 236,084 5.481 5.110 220,108 -15,976 1 .44% 25,956 Supergen Inc SUPG 224,604 8.653 10.320 267,866 43,262 1 .76% 40,293 Telesystem intl Wireless Inc TIWI 263,923 6.550 6.590 265,531 1,608 1.74% 36,849 Terayon Communication Sy TERN 195,332 5.301 6.870 253,153 57,821 1.66'0 2,890 Trident Microsystems TRID 55,372 19.160 23.200 67,048 11,676 0.44% 70,160 VA Linux Systems, Inc. LNUX 373,752 5.312 5.098 358,695 -15,057 2.35% 26,938 Vans Inc. VANS 307,893 11 .430 11.280 303,861 -4,033 1 .99% Stock Total - 47 12,569,661 14,300,290 1,730,629 93.73% DRIEHAUS CAPITAL MANAGEMENT, INC. Monday January 26, 2004 11:45:09 Page 1 SECURITY PORTFOLIO for 10/3l/2003 PRICING DATE : IO/31/2003 06056404 --- RHD FOUNDATION- EMERGING GROWTH

Ticker/ Unit Closing Market Unrealized Pct Of uantil Security Description Sell Date Cost Cost Price Value rain (-Loss) Mkt Val

10,953 24/7 Real Media Inc . TFSM 11,330 1 .034 1 .640 17,963 6,633 0.72% 2,302 Abaxis Inc . ABAX 37,213 16 .165 17 .340 39,917 2,704 1 .60% 2,084 Accredited Home Lenders LEND 47,738 22 .907 28.620 59,644 11,906 2.39°!0 3,204 Akamai Technologies Inc AKAM 25,587 7.986 7.900 25,312 -275 1 .02% 2,723 Align Technology Inc ALGN 41,582 15 .271 15 .410 41,961 380 1 .68% 6,726 Alvarion Limited ALVR 49,145 7.307 7.800 52,463 3,317 2.11% 4,667 AnswerThink Consulting Group ANSR 25,664 5.499 5.210 24,315 -1,349 0.98% 11,315 ASAT Holdings Ltd . ASTT 31,075 2.746 2.670 30,211 -864 1 .21/0 1,660 August Technology Corp AUGT 30,232 18 212 19.400 32,204 1,972 1 .29°!0 8,214 Bakbone Software Inc BKBOF 18,506 2.253 2.700 22,178 3,672 0.89% 1,585 Bankrate Inc RATE 21,568 13 .608 15.270 24,203 2,635 0.97/0 4,276 Bngham Exploration Co BEXP 29,725 6.952 6.700 28,649 -1,075 1 .1570 3,281 Brooktrout Tech Inc BRKT 46,953 14.311 14 .380 47,181 228 1 .89% 3,201 Captaris Inc CAPA 18,256 5.703 5.950 19,046 790 0.76% 1,991 Carrier Access Corp. CACS 18,738 9.412 10 .100 20,109 1,371 0.81% 1,928 C-COR.net Corporation CCBL 17,594 9.125 10 .080 19,434 1,840 0.78 763 Ceradyne Inc . CRDN 21,245 27 .845 41 .540 31,695 10,450 1 .27% 9,736 Chordiant Software Inc . CIiRD 34,782 3.572 4.400 42,838 8,057 1 .72% 2,703 Concord Camera Corp. LENS 33,480 12.386 12 .840 34,707 1,226 1 .39% 3,831 Corio Inc. CR10 10,342 2.700 2.600 9,961 -381 0.40/0 6,829 deCODE Genetics DCGN 29,517 4.322 6.960 47,530 18,013 1 .91 % 6,896 Diamondcluster Intl . DTP! 44,111 6.397 8.900 61,374 17,263 2.46% 1,595 Ecollege.com Inc ECLG 34,243 21 .469 21 .690 34,596 352 1 .39% 2,254 Encore Medical Corp ENMC 15,013 6.661 6 850 15,440 427 0.62'70 656 Flame! Technologies-sp Adr FLML 19,818 30.210 25.250 16,564 -3,254 0.66/0 2,439 Genus Inc . GGNS 13,454 5.516 5 .400 13,171 -283 0.5310 8,638 Grupo Financiero Galicia-B ADR GGAL 45,440 5.260 6.040 52,174 6,734 2.0910 2,256 Headwaters Inc HDWR 39,550 17 .531 18.800 42,413 2,863 1 .70% 2,790 Hydrogenics Corp HYGS 18,236 6.536 6.590 18,386 151 0.74°!0 3,110 I-Flow Corp. IFLO 33,328 10.716 14.550 45,251 11,923 1 .82°!0 2,251 Imax Corp IMAX 20,060 8.912 9.050 20,372 312 0.82% 6,226 IMPCO Technologies Inc . IMCO 50,230 8 068 8.820 54,913 4,684 2.20% 2,778 Inkine Pharmaceutical Co INKP 15,167 5.460 5350 14,862 -305 060% 2,407 IRSA-Sp.ADR IRS 26,608 11 .054 10400 25,033 -1,575 1 .00% 1,780 Ivanhoe Energy Inc !VAN 13,443 4.836 4.510 12,538 -905 0.50% 2,242 KCS Energy Inc. KCS 17,420 7.770 7.970 17,869 449 0.72% 6,185 Kfx Inc KFX 36,273 5.865 5.990 37,048 775 1 .49% 3,851 Laserscope ISCP 38,705 10.051 12.710 48,946 10,241 1 .9670 5,01( Lionbridge Technologies Inc. LIOX 23,868 4.763 9.030 45,249 21,382 1 .82% i,5~42 R" :lli".m : ;i: Cellular S.s. MICC 64,!95 41 632 61 .610 95,003 30,807 3 .81% DRlEHAUS CAPITAL MANAGEMENT, INC. Monday Jaiuary 26, 2004 1 1:45:09 Page 2 SECURITY PORTFOLIO for 10/3I/2003 PRICING DATE : l0/3I/2003 06056404 --- RHD FOUNDATION -EMERGING GROWTH

Ticker/ Unit Closing Market Unrealized Pct Of uantit Security Description Sett Date Cost Cost Price Value Gain (-Loss) Mkt Val

3,705 Net Servicos De Com-Pr ADR NETC 11,323 3.056 2.700 10,004 -1,320 0.40% 2,343 Netopia Inc NTPA 13,968 5.961 10.220 23,945 9,978 0.96% 3,379 Network Engines Inc NENG 16,708 4.945 9.820 33,182 16,474 1 .33% 9,662 OpenTV Corporation OPTV 32,226 3.335 5.300 51,209 18,983 2.06% 2,771 Oplink Communications Inc OPLK 6,748 2 435 2.340 6,484 -264 0.26% 3,562 Petmedexpress .com Inc PETS 28,644 8.042 9.030 32,!65 3,520 1 .29% 2,419 Primus Telecommun Grp PRTL 21,146 8.742 9.250 22,376 1,229 0.90% 1.390 Puma Technology Inc PUMA 9,861 7.094 6.990 9,716 -145 0.39% 3,695 QAD Inc. QADI 44,977 12.172 11 .690 43,195 -1,782 1.73% 561 Scientific Games Corp-A SGMS 6,652 11 .857 13 .300 7,461 810 0.30% 2,426 Seachange Intl Inc SEAC 38,402 15.829 15.450 37,482 -920 1 .50% 1,065 Select Comfort Corp . SCSS 32,040 30.085 31 .240 33,271 1,230 1 .34% 714 Sonic Solutions SNIC 8,193 11 .475 17 .850 12,745 4,552 0.51% 10,387 Superconductor Tech SCON 41,019 3.949 5.110 53,078 12,059 2.13% 3,613 Supergen Inc SUPG 30,664 8.487 10.320 37,286 6,622 1 .50% 2,136 Support.com Inc SPRT 23,043 10.788 11 .990 25,611 2,568 1 .03% 1,851 Telecommunication Systems-A TSYS 10,653 5.755 5.660 10,477 -176 0.42% 11,606 Telesystem Intl Wireless Inc TIWI 61,055 5.261 6.590 76,484 15,428 3.07% 1,589 Terayon Communication Sy TERN 7,856 4.944 6.870 10,916 3,061 0.44% 2,456 The Bombay Company Inc. BBA 31,978 13 .020 13 .180 32,370 392 1 .30°6 2,194 Transaction Sys Archtcts TSAI 26,687 12.164 19 .850 43,551 16,864 1 .75% 4,752 Transmeta Corp/Delaware TMTA 18,435 3.880 4.050 19,246 810 0.77% 1,807 Trident Microsystems TRID 25,943 14.357 23.200 41,922 15,979 1 .68% 4,165 Tripath Technology TRPH 21,253 5.103 5 .000 20,825 -428 0.84% 13,792 VA Linux Systems, Inc . LNUX 71,356 5.174 5.098 70,312 -1,045 2.82% 4,462 XM Satellite Radio Holdings Inc . XMSR 74,143 16.617 20 .250 90,356 16,213 3.63% Stock Total - 66 1,884,401 2,198,386 313,984 88.24 % DRIEHAUS CAPITAL MANAGEMENT, INC. Monday January 26, 2004 I1 :S0:34 Page 1 SECURITY PORTFOLIO for 10/3I/2003 PRICING DATE : l0/3l/2003 06056`5O1 --- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Ticker/ Unit Closing Market Unrealized Pct Of uantit Security Description Setl Date Cost Cost Price Value Gain (-Loss) Mkt Val

1,044 4kids Entertainment Inc KDE 24,599 23 .563 24 .450 25,526 926 083% 2,750 Align Technology Inc AI.GN 33,520 12 .189 15 410 42,377 8,857 1 .3710 5,095 Alvarion Limited ALVR 35,797 7.026 7.800 39,741 3,944 1 .29% 5,077 Audible Inc . ADBL 15,320 3.018 3.650 18,531 3,211 060% 3,358 AUTOBYTEL INC ABTL 35,760 10 649 10 .450 35,091 -669 1.14% 9,583 Axonyx Inc AXYX 45,525 4.751 4 800 45,998 474 1 .49% 10,105 Bakbone Software Inc BKBOF 23,556 2.331 2.700 27,284 3,727 0.88% 2,316 Bennett Environmental Inc BEL 34,276 14.800 18 .720 43,356 9,079 1 .40% 1,438 Bentley Pharmaceuticals DNT 21,004 14.606 14.470 20,808 -196 0.67% 2,033 Brigham Exploration Co BEXP 14,706 7.234 6.700 13,621 -1,085 0.44% 918 Brookstone Inc BKST 17,382 18 .935 20.420 18,746 1,363 0.61% 2,538 Brooktrout Tech Inc BRKT 34,657 13 .655 14.380 36,496 1,840 1 .18% 781 Cache Inc. CACH 19,561 25.046 25.340 19,791 230 0.64% 1,522 California Amplifier Inc . CAMP 15,650 10.283 9.900 15,068 -583 0.49% 3,378 California Micro Devices Corp . CAMD 29,618 8.768 8.480 28,645 -972 0.93% 1,736 Callon Petroleum Corp. CPE 10,026 5 .775 8.490 14,739 4,713 0.48% 2,597 Caraco Pharm Labs Inc CPD 27,588 10.623 10 000 25,970 -1,618 0.8410 3,465 Carrier Access Corp. CACS 27,465 7.926 10100 34,997 7,532 1 .13/0 635 Central European Distribution Corp . CEDC 22,917 36 .090 37 .590 23,870 953 0.77°/u 7,110 Ceragaon Networks Limited CRNT 43,406 6.105 5.960 42,376 -1,030 137°Io 11,582 Chordiant Software Inc . CNRD 31,780 2.744 4.400 50,961 19,180 1 .6510 2,663 Ciphergen Biosystems Inc. CIPH 33,752 12.674 10.910 29,053 -4,699 0.94% 7,378 Clicksoftware Company CKSW 26,152 3.545 3.000 22,134 -4,018 0.72/0 4,966 Concord Camera Corp. LENS 59,035 11 .888 12 840 63,763 4,728 2.06% 1,468 Concur Technologies Inc . CNQR 6,520 4.441 11 .350 16,662 10,142 0.5410 3,414 Diamondcluster Intl. DTPI 21,376 6.261 8.900 30,385 9,008 0.98% 3,485 Ditech Communications DITC 11,038 3.167 10.540 36,732 25,694 1 .19% 1,598 Ecollege .com Inc ECLG 19,665 12 .306 21 .690 34,661 14,996 1.12% 3,269 Encysive Pharmaceuticals Inc ENCY 17,731 5.424 6.330 20,693 2,962 0.67% 3,044 EndwaveCorporation ENWV 26,197 8.606 7.940 24,169 -2,027 0.7810 1,076 Faro Technologies Inc FARO 8,128 7.554 24.060 25,889 17,761 0.84% 15,233 Focus Enhancements Inc FCSE 42,355 2.780 4.200 63,979 21,624 2.07% 2,102 Fuel Tech N V FI'EK 8,784 4.179 4.450 9,354 570 0.30% 2,156 Genus Inc . GGNS 11,897 5.518 5.400 11,642 -255 038% 2,036 I-Flow Corp. IFLO 22,131 10.870 14 .550 29,624 7,493 0.96% 5,487 IMPCO Technologies Inc. IMCO 43,709 7.966 8.820 48,395 4,686 1 .57°!0 8,901 Inkine Pharmaceutical Co lNKP 41,605 4.674 5.350 47,620 6,016 1 .54% 71 Jos A Bank Clothiers Inc JOSE 730 10.280 43.370 3,079 2,349 0.10% 6,613 KCS Energy Inc . KCS 35,337 5.344 7.970 52,706 17,369 1 .713'0 5,603 Kfx Inc K_FX 28,454 5.078 5.990 33,562 5,108 1 .09%

~ - DRIEHAUS CAPITAL MANAGEMENT, INC. Monday January 26, 2004 11 :50:34 Page 2 SECURITY PORTFOLIO for 10/31/2003 PRICING DATE : IO/3I/2003 06056501 --- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Ticker/ Unit Closing Market Unrealized Pct Of uantit Security Descriation Set] Date Cost Cost Price Value Gain (-Loss) Mkt Val

3,953 L C C Inti Inc LCCI 23,767 6.012 6.140 24,271 504 0.79% 1,361 Laserscope ISCP 11,735 8.622 12.710 17,298 5,564 0.56% 1,676 LCA Vision Inc LCAV 21,851 13.038 16.141 27,052 5,201 0.88% 5,667 LionbridgeTechnologies lnc . L10X 28,988 5.115 9030 51,173 22,185 1 .66% 10,578 Liveperson Inc LPSN 33,330 3.151 5.250 55,535 22,204 1 .80°!0 2,070 M Systems Flsh Dsk Pionr FL.SI{ 32,394 15.649 19.850 41,090 8,695 1 .33% 753 Master Inc M'IZ 8,261 10.971 12.890 9,706 1,445 0.31% 1,742 Matrixx Initiatives Inc MTXX 22,282 12.791 14.300 24,911 2,629 0.81% 3,661 Mattson Technology Inc MTSN 35,098 9.587 14.210 52,023 16,924 1 .68% 1,904 Maxcor Finl Group Inc MAXF 13,916 7309 15 .110 28,769 14,854 0.93% 2,314 Mediware Information Systems MEOW 25,629 11 .076 14.739 34,106 8,477 1 .10% 812 Metrologic Instruments MTLG 18,859 23 .225 23.410 19,009 150 0.62/0 944 Millicom Intl Cellular S.a. MICC 10,346 10.960 61 .610 58,160 47,814 1 .88% 4,836 Mobility Electronics Inc MOI3E 33,825 6.994 9.700 46,909 13,085 1 .52% 4,081 Netopia Inc NTPA 26,923 6.597 10220 41,708 14,785 1 .35% 2,732 Netsmart Tech Inc NTST 23,858 8.733 11 .970 32,702 8,844 1 .0610 4,002 Network Engines Inc NEIYG 9,890 2.471 9.820 39,300 29,409 1 .27/0 3,050 NEVADA GOLD & CASINOS INC UWN 36,425 11 .943 12 850 39,193 2,767 1 .27% 9,924 OpenTV Corporation OPTV 36,478 3.676 5.300 52,597 16,119 1 .70% 10,181 Oplmk Communications Inc OPLK 27,331 2.684 2340 23,824 -3,507 0.77% 959 Optelecom Inc. OPTC 12,951 13 .505 12 .000 11,508 -1,443 0.37% 4,403 Optibase Ltd OBAS 24,889 5.653 6.640 29,236 4,347 0.95% 5,929 Palatin Technologies Inc PTN 31,870 5.375 4.300 25,495 -6,375 0.82/0 4,262 Palomar Medical Tech PMTI 16,256 3.814 7.070 30,132 13,876 0.9710 7,679 Peerless Systems Corp PRI.S 20,884 2.720 3.549 27,253 6,369 0.88% 720 Performance Tech Inc PTIX 6,372 8.850 10.390 7,481 1,109 0.24% 5,254 Petmedexpress .com Inc PETS 30,350 5.776 9.030 47,444 17,094 1.5410 2,034 Petroleum Development Corp. PETD 23,628 11 .617 13 .250 26,951 3,322 0.87% 7,110 Puma Technology Inc PUMA 38,367 5.396 6.990 49,699 11,332 1.61% 3,025 QAD Inc. QADI 34,307 11 .341 11 .690 35,362 1,055 1.14°,'0 313 Quality Systems Inc . QSII 11,220 35.846 47 .820 14,968 3,748 0.48% 6,781 Quantum Fuel Systems Technol Q'I'WW 45,337 6 686 9.120 61,843 16,506 2.00% 1,148 Radware Ltd RDWR 25,619 22.316 23 .130 26,553 935 0.86% 1,387 Radyne Comstream Inc RADN 10,683 7.702 7.720 10,708 -25 035% 2,001 Select Comfort Corp . SCSS 29,651 14 .818 31 .240 62,511 32,860 2.02%n 1,135 Sierra Wireless Inc SWIR 8,214 7.237 16.760 19,023 10,809 0.62/0 1,525 SM&A WINS 19,192 12 .585 12.540 19,123 -69 0.62°!0 4,077 Sonus Pharmaceuticals SNUS 23,303 5.716 5.759 23,479 176 0.76% 989 Sportsman's Guide Inc. SGDE 13,533 13.684 17.030 16,843 3,310 0.54% 10,249 Superconductor Tech SCON 41,148 4.015 5.110 52,372 11,225 1 .6910 DRIEHAUS CAPITAL MANAGEMENT, INC. Monday January 26, 2004 11:50:34 Page 3 SECURITY PORTFOLIO for 10/3I/2003 PRICING DATE : 10/31/2003 06056501--- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Ticker/ Unit Closing Market Unrealized Pct Of uantit Security Description Setl Pate Cost Cost Price Value Gain (-Loss) Mkt Val

1,816 Support.com Inc SPRT 21,234 11 .693 11 .990 21,774 539 0.70% 2,540 Telecommunication Systems-A TSYS 14,518 5.716 5.660 14,376 -141 0.47% 6,466 Telesystem Intl Wireless Inc TIWI 34,662 5.361 6.590 42,611 7,949 1 .38% 5,814 Terayon Communication Sy TERN 33,805 5.814 6.870 39,942 6,138 1 .29% 8,614 TLC Vision Corp TLCV 45,985 5.338 6.790 58,489 12,504 1 .89% 1,828 Trident Microsystems TRID 17,857 9.769 23.200 42,410 24,553 1 .37% 4,603 Tripath Imaging Inc . TPTH 39,797 8.646 9.400 43,268 3,471 1 .40% 5,073 Tripath Technology TRPH 25,866 5.099 5 .000 25,365 -501 0.82% ,728 Tumbleweed Communications TMWD 23,911 3.554 6 340 42,656 18,745 138% 2,718 Tyler Technologies Inc TYL 18,215 6.702 7.920 21,527 3,312 0.70% 3,119 Ultralife Batteries Inc ULBI 19,170 6.146 17.400 54,271 35,101 1.7610 4,222 VA Linux Systems, Inc . LNUX 18,243 4.321 5.098 21,524 3,281 0.70% 3,283 ValueClick, Inc . VCLK 19,057 5.805 8.130 26,691 7,634 0.86% 5,381 Ventiv Health Inc VTIV 42,360 7.872 8.500 45,739 3,379 1 .48% 4,585 Verso Technologies Inc VRSO 15,221 3.320 4.180 19,165 3,945 0.62% Stock Total - 95 2,367,568 3,065,215 697,647 99.18% 0 0 0

DRIEHA US CA PITA L MA NA GEMENT, INC Monday Janitary 26, 2004 11:55:23 Page I SECURITY PORTFOLIOfor 1013112003 PRICING DATE : 1013112003 06058503 --- RICHARD H DRIE11A US FOUNDATION - MIDRECV

Ticker/ Unit Closing Market Unrealized Pct Of Ouantity Security Description Setl Date Cost Cost Price Value Gain (-Loss) Mkt Val

4,383 3Com Corp. COMS 29,491 6.729 7.200 31,558 2,066 2.11% 4,115 ABB LTD-SPON ADR ABB 25,119 6.104 5.800 23.867 -1,252 1 .60% 571 Advanced Fibre Communication AFCI 14,989 26.250 24.070 13,744 -1,245 0.92% 142 Aetna Inc-new AET 6,096 42.927 57.410 8,152 2,057 0.55% 6,074 Agere Systems Inc - Cl A AGR/A 18,470 3 .041 3 .480 21,138 2,667 1 .41% 3,995 Akamai Technologies Inc AKAM 31,903 7.986 7.900 31,561 -342 2.11% 2,002 Alcatel SA Spons ADR ALA 20,657 10.318 13.180 26,386 5,729 1 .76% 1,510 Amerco UHALQ 10,263 6.797 18.750 28,313 18,049 1 .89% 2,584 AmeriCredit Corp. ACF 23,486 9.089 13.400 34,626 11,139 2.32% 1,042 Ameritrade Holding Corp. AMTD 4,891 4.694 13 .710 14,286 9,394 0.96% 1,542 Amkor Technologies Inc. AMKR 29,399 19.065 18850 29,067 -332 1 .94% 1 .617 Andrew Corp. ANDW 20,098 12.429 13 .180 21,312 1,214 1 .43% 2,416 AvayaInc AV 13,791 5.708 12.940 31,263 17,472 2.09% 2,855 Axcelis Technologies ACLS 29,548 10-349 10.590 30,234 687 2.02% 3,083 Beverly Enterprises Inc. BEV 18,200 5.903 6.070 18,714 514 1.25% 341 Boston Scientific Corp. BSX 15,095 44.267 67.720 23,093 7,998 1.54% 3,283 Brocade Communicatons Systems BRCD 21,816 6.645 6.561 21,540 -276 1 .44% 714 Brooks Automation Inc BRKS 18,407 25.780 24.930 17,800 -607 1 .19% 351 Celgene Corp. CELG 8,702 24.792 41 .690 14,633 5,931 0.98% 732 Cemer Corp. CERN 24,060 32.868 42.370 31,015 6,955 2.07% 5,445 Charter Communications Inc. A CHTR 27,331 5.019 4.270 23,250 -4,080 1 .56% 1,604 Circuit City Stores - Circuit cc 14,979 9.338 9.540 15,302 323 1 .02% 2,544 Concord Camera Corp. LENS 26,800 10535 12.840 32,665 5,865 2.18% 3,062 Coming Inc. GLW 16,375 5.348 10.980 33,621 17,246 2.25% 1,415 Ericsson (L.M.) Tel Co-Spons ADR ERICY 22,364 15.805 17.080 24,168 1,805 1 .62% 588 Espeed Inc Cl A ESPD 13,040 22.176 27.250 16,023 2,983 1 .07% 743 Fairchild Semiconductor Corp - Cl A FCS 15,088 20.307 22.600 16,792 1,704 1 .12% 882 Foundry Networkd Inc. FDRY 13,336 15.120 23.210 20,471 7,135 1 .37% 1,926 Gateway 2000 Inc GTW 8,449 4.387 5.040 9,707 1,258 0.65% 1,584 Hayes Lemmerz International HAYZ 25,571 16.143 16290 25,803 233 1.73% 485 Icos Corporation lCOS 21,562 44.458 46.720 22,659 1,097 1.52% 1,541 Ivax Corp. IVx 24,733 16.050 19.260 29,680 4,947 1 .99% 561 Kindred Healthcare Inc KIND 14,350 25.579 41 .240 23,136 8,786 1 .55% 2,939 La Jolla Pharm Co UPC 14,613 4.972 3.410 10,022 -4,591 0.67% 913 Manor Care Inc HCR 24,601 26.945 33.280 30,385 5,784 2.03% 1,300 Milleniurn Pharmaceutic MLNM 21,660 16.661 15.920 20,696 -964 1.38% 650 Millicorn Intl Cellular S.a. MICC 22,749 34.998 61 .610 40,047 17,298 2.68% 2,060 MPS Group Inc MPS 19,373 9.404 9.550 19,673 300 1.32% 558 Nabors Industries Ltd NBR 21,015 37.662 37.800 21,092 77 1 .41% 1 .999 Nextel Partners Inc -cl A NXTP 21,206 10.608 11 .980 23,948 2,742 1 .60% 2004 11 :55:23 DRIEHA US CA PI TA L MA NA GE ME, NT, INC. Monday Jamiary 26, Page 2 SECURITY PORTFOLIOfor 1013112003 PRICING DATE : 1013112003 06058503 --- RICHARD H DRIEHAUS FOUNDATION- MIDRECV

Ticker/ Unit Closing Market Unrealized Pct Of Ouantity Security Description Setl Date Cost Cost Price Value Gain (-Loss) Mkt Val

423 NII Holdings Inc - Cl B NIHD 21,824 51 .593 77.000 32,571 10,747 2.18% 5,145 Novell Inc NOVL 26,017 5.057 5.870 30,201 4,185 2.02% 378 Ntl Inc NTLI 14,735 38.982 61.730 23,334 8,599 1 .56% 413 Pharmaceutical Resources, Inc. PRX 15,971 38.671 72.280 29,852 13,881 2.00% 1,649 Polycom Inc PLCM 26,573 16.114 20.010 32,996 6,424 2.21% 433 Priceline.com Inc PCLN 10,859 25.079 28.180 12,202 1,343 0.82% 2,060 QLT PhotoTherapeutics Inc. QLTI 30,851 14.976 15.450 31,827 976 2.13% 887 Rambus, Inc. RMBS 12,239 13.798 24.790 21,989 9,750 1 .47% 1,469 Red Hat Inc. RHAT 14,663 9.981 15-010 22,050 7,387 1 .47% 2,122 RF Micro Devices Inc RFMD 17,700 8.341 11 .690 24,806 7,106 1 .66% 714 Rogers Cantel Mob Comn-B RCN 13,530 18.949 19.350 13,816 286 0.92% 575 Rowan Companies Inc. RDC 13,590 23.634 23.950 13,771 181 0.92% 191 Sandisk Corp SNDK 5,935 31 .073 80.600 15,395 9,460 1 .03% 1,766 Scientific Games Corp-A SGMS 22,391 12.679 13.300 23,488 1,097 1 .57% 509 Sepracor Inc. SEPR 11,236 22.075 26.620 13,550 2,313 0.91% 872 Spectrasite Inc SSI 18,075 20.728 38.750 33,790 15,715 2.26% 1,146 Staples Inc. SPLS 27,482 23.981 26.720 30,621 3,139 2.05% 5,879 Sycamore Networks Inc SCMR 29,634 5.041 5.030 29,571 -63 1 .98% 1,062 Symbol Technologies Inc. SBL 10,230 9.633 12.490 13,264 3,035 0.89% 4,841 TLC Vision Corp TLCV 29,930 6.183 6790 32,870 2,940 2.20% 1,816 UnitedGlobal .Corn Inc -Cl A UCOMA 6,495 3.577 7.080 12,857 6,362 0.86% 1,685 Us Airways Group Inc-cl A UAIR 14,156 8.401 10.130 17,069 2,913 1 .14% a-745 Vitesse Semiconductor Corp. VTSS 13,437 7.700 7.040 12,285 -1,152 0.82% 1,589 Warnaco Group Inc/the WRNC 26,200 16.488 17.450 27,728 1,528 1 .85% Stock Total - 64 1,207,424 1,483,343 275,919 99.21%

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DRIEHAUS CAPITAL MANAGEMENT, INC. MondayJanuary26,2004 11:59:10 Page I SECURITY PORTFOLIOfor 1013112003 PRICING DATE : 1013112003 06057070 --- RHO FOUNDATION-SMALL CAP

Ticker/ Unit Closing Market Unrealized Pet Of Quantity Security Description Setl Date Cost Cost Price Value Gain (-I .oss) Mkt Val

3,387 Advanced Digital Info . Corp. ADIC 53,301 15 .737 16.260 55,073 1,771 3.27% 878 Aeropostale Inc ARO 28,443 32 .396 30.850 27,086 -1,357 1.61% 2,150 Akamai Technologies Inc AKAM 17,195 7.998 7.900 16,985 -210 1.01% 202 Altiris Inc ATRS 6,587 32.610 34.380 6,945 358 0.41% 728 Angiotech Pharmaceuticals ANPI 34,669 47 .623 45.750 33,306 -1,363 1 .98% 360 Ascential Software Corp ASCL 8,333 23 .146 22.290 8,024 -308 0.48% 1,864 ASE Test Limited ASTSF 21,813 11 .703 12.400 23,114 1,300 1.37% 1,075 Axcelis Technologies ACLS 11,684 10 .869 10.590 11,384 -300 0.68% ,3' 85 Brightpoint Inc. CELL 58,721 24 .621 28.650 68,330 9,610 4.06% 1,093 Childrens Place Retail PLCE 31,027 28 .387 30.100 32,899 1,873 1 .95% 1,018 Covad Communications COVD 6,306 6.195 4.380 4,459 -1,847 0.26% 240 Digene Corporation DIGE 3,658 15 .241 35.100 8,424 4,766 0.50% 1,587 Eresearch Technology Inc . ERES 65,988 41 .580 45.800 72,685 6,697 4.31% 1,483 Filenet Corp. FILE 38,193 25 .754 26.720 39,626 1,433 2.35% 4,156 Fremont Gen Corp FMT 67,260 16 .184 16,630 69,114 1,854 4.10% 1,054 Infospace .com INSP 27,164 25 .772 26.050 27,457 293 1.63% 1,392 J D A Software Group Inc JDAS 29,749 21 .371 21.410 29,803 54 1.77% 464 JctBlue Airways Corp JBLU 12,787 27 .559 57.670 26,759 13,971 1.59% 3.720 Knight Trading Grp CI A NITE 46,859 12 .597 13 .840 51,485 4,625 3.06% 724 K-Swiss Inc . - Cl. A KSWS 31,888 44 .045 44.100 31,928 40 1 .89% 617 Kyphon Inc KYPH 14,698 23 .822 27.620 17,042 2,343 1 .01% 2,503 Mattson Technology Inc MTSN 34,547 13 .802 14.210 35,568 1,020 2.11% 483 Microstrategy Inc-Cl A MSTR 24,170 50.042 55.000 26,565 2,395 1 .58% 1,745 Nctflix Inc NFLX 59,721 34.224 57.300 99,988 40,267 5.93% 862 New Century Fin] Corp NCEN 31,466 36 .504 37.150 32,023 557 1.90% 141 Primus Tclccommun Grp PRTL 1,035 7.338 9.250 1,304 270 0.08% 876 Scientific Games Corp-A SGMS 10,754 12.277 13 .300 11,651 896 0.69% 1,400 Seachange Intl Inc SEAC 21,715 15 .511 15 .450 21 .630 -85 1.28% 3,056 Select Comfort Corp . SCSS 52,758 17 .264 31.240 95,469 42,712 5.67% 496 Select Medical Corp SEM 15,091 30.426 33.570 16,651 1,559 0.99% 1,673 Sigmatel Inc SGTL 35,850 21 .428 25.400 42,494 6,644 2.52% 3,784 Silicon Storage Tech SSTI 37,258 9.846 11 .200 42,381 5,123 2.52% 1,626 Silicon Valley Bankshares SIVB 50,695 31 .178 34.970 56,861 6,166 3.37% 1,314 Sina Corp SINA 27,695 21 .077 38.650 50,786 23,091 3.01% 5,672 Sonus Network SONS 49,276 8.688 8.230 46,681 -2,596 2.77% 1,278 Support.com Inc SPRT 15,601 12.207 11 .990 15,323 -278 0.91% 1,862 Transaction Sys Archtcts TSAI 34,457 18-506 19 .850 36,961 2,503 2.19% 4,969 Transmcta CorptDelaware TMTA 21,231 4.273 4.050 20,124 -1,107 1 .19% 1,064 Triquint Semiconductor TQNT 7,608 7.151 7.170 7,629 21 0.45% 3,437 Ultra Petroleum Corp ADR UPI. 52,571 15.295 18 .300 62,897 10,326 3.73% DRIEHAUS CAPITAL MANAGEMENT, INC. MondayJaymary26,2004 11 :59:10 Page 2 SECURITY PORTFOLIOfor 1013112003 PRICING DATE : 1013112003 06057070 --- RHD FOUNDATION-SMALL CAP

Ticker/ unit Closing Market Unrealized Pct Of Ouantity Security Descrintion Sed Date Cost Cost Price Value Gain (-Loss) Mkt Val

102 Urban Outfitters URBN 2,595 25."6 33.360 3,403 807 0.20% 1,704 Usanalnc USNA 52,395 30.748 33.370 56,862 4,467 3.37% 2,522 ValueClick, Inc. VCLK 16,647 6.601 8.130 20,504 3,857 1.22% 699 VISX Incorporated EYE 17,581 25.151 24.260 16,958 -623 1.01% 528 WRIGHT MEDICAL GROUP INC WMGI 15,354 29.079 29.350 15,497 143 0.92% 4,284 XM Satellite Radio Holdings Inc. XMSR 49,831 11 .632 20.250 86,751 36,920 5 .15% Stock Total - 46 1,354,228 1,584,888 230,660 94.06%

0 0 0 40 0 0 0 0 0 0 0 DRIEHAUS CAPITAL MANAGEMENT, INC. Monday January 26, 2004 12:02:28 Page I SECURITY PORTFOLIOfor 1013112003 PRICING DATE : 1013112003 06057508 --- RHD - FOUNDATION - RECOVERY

Ticker/ unit Closing Market Unrealized Pct Of Ouantity Security DescriDtion Setl Date Cost Cost Price Value Gain (-Loss) Mkt Val

32,095 24/7 Real Media Inc. TFSM 38,448 1 .198 1 .640 52,636 14,188 0.96% 1,179 Able Laboratories Inc ABRX 14,988 12.713 19.340 22,802 7,814 0.42% 10,112 Akamai Technologies Inc AKAM 80,512 7.962 7.900 79,885 -627 1 .46% 3,950 Allmerica Financial Corp. AFC 65,072 16.474 26.630 105,188 40,116 1 .92% 4,368 Amerco UHALQ 29,698 6.799 18.750 81,900 52,202 1 .50% 8,940 Anadigics Inc. ANAD 54,812 6.131 5.080 45,415 -9,397 0.83% 4,617 Applied Signal Technology APSG 48,520 10.509 20.700 95,572 47,052 1 .74% 10,419 Aspect Communications Corp ASPT 83,744 8.038 13.540 141,073 57,329 2.58% 10,623 Audiocodes Ltd. AUDC 38,671 3.640 8.470 89,977 51,305 1 .64% 6,016 AUTOBYTEL INC ABTL 62,510 10.391 10.450 62,867 357 1 .15% 1 A -063 AxonyxInc AXYX 70,312 5.000 4.800 67,502 -2,809 1 .23% 12,349 Bakbone Software Inc BKBOF 30,284 2.452 2.700 33,342 3,059 0.61% 16,414 Beverly Enterprises Inc. BEV 83,079 5.061 6.070 99,633 16,554 1 .82% 5,763 Carrier Access Corp. CACS 52,199 9.058 10.100 58,206 6,007 1 .06% 10,324 C-COR.net Corporation CCBL 85,894 8.320 10.080 104,066 18,172 1 .90% 11,421 Champion Enterprises Inc. CHB 74,237 6.500 7.100 81,089 6,852 1 .48% 9,361 Concord Camera Corp. LENS 103,444 11 .050 12.840 120,195 16,752 2.19% 4,245 Concur Technologies Inc. CNQR 24,066 5.669 11 .350 48,181 24,114 0.88% 2,543 Continental Airlines - Class B CAL 29,662 11 .664 19.100 48,571 18,909 0.89% 17,570 Corio Inc. CRIO 56,857 3.236 2.600 45,682 -11,175 0.83% 2,163 Corrections Corp of America CxW 46,111 21 .318 24.560 53,123 7,013 0.97% 19,842 Corvis Corp. CORV 38,631 1 .947 1 .430 28,374 -10,257 0.52% 8,009 Cypress Bioscience Inc. CYPB 60,459 7.549 13 .220 105,879 45,420 1.93% 6,159 Dendreon Corp DNDN 62,637 10.170 8 .420 51,859 -10.778 0.95% 7,157 Discovery Laboratories Inc. DSCO 58,779 8.213 7.240 51,817 -6,963 0.95% 9,847 Ditech Communications DITC 38,210 3.880 10.540 103,787 65,578 1 .89% 4,438 Dot Hill Systems Corp HILL 21,184 4.773 13.500 59,913 38,729 1 .09% 3,887 Dycom Industries Inc. DY 68,568 17.640 21 .610 83,998 15,430 1 .53% 12.434 Enterasys Network Inc ETS 21,958 1 .766 3.900 48,493 26,535 0.89% 11,602 Extreme Networks Inc EXTR 92,908 8.008 8.600 99,777 6,869 1 .82% 7,654 Fleetwood Enterprises FLE 81,241 10.614 10.080 77,152 -4,089 1.41% 3,370 Frontier Airlines Inc FRNT 32,273 9.576 16.080 54,190 21,917 0.99% 5,952 Guess ? Inc. GES 72,098 12.113 11 .800 70,234 -1,864 1 .28% 4,272 Hayes Lemmerz International HAYZ 66,953 15.673 16.290 69,591 2,638 1 .27% 23,368 Homestore.com HOMS 73,607 3.150 3.490 81,554 7,948 1 .49% 4,651 Infospace.com INSP 41 .386 8.898 26.050 121,159 79,772 2.21% 4,550 Key Energy Group KEG 47,240 10.382 8.730 39,721 -7,518 0.73% 2,393 Kindred Healthcare Inc KIND 52,780 22.056 41 .240 98,687 45,907 1 .80% 2,629 LCA Vision Inc LCAV 46,790 17.798 16.141 42,435 -4,355 0.77% 12,141 Lionbridge Technologies Inc. LIOX 79,271 6.529 9.030 109,633 30,362 2.00% DRIEHAUS CAPITAL MANAGEMENT, INC. Monday January 26, 2004 12:02:28 Page 2 SECURITY PORTFOLIOfor 1013112003 PRICING DATE : 1013112003 06057508 --- R11D - FOUNDATION- RECOVERY

Ticker/ Unit Closing Market Unrealized Pet Of Ouantity Security Description Setl Date Cost Cost Price Value Gain (-Loss) Mkt Val

14,671 Liveperson Inc LPSN 56,245 3.834 5.250 77,023 20,777 1 .41% 7,971 Mannatech Inc MTEX 58,740 7.369 7.370 58,746 6 1 .07% 7,630 Mastec Inc MTZ 48,455 6.351 12.890 98,351 49,895 1 .80% 10,750 Mips Technologies Inc MIPS 53,833 5.008 4.990 53,643 -190 0.98% ~,762 Mips Technologies Inc -cl B MIPSB 18,995 5.049 5.010 19,848 -147 0.34% 7,731 Navigant Consulting Co NCI 64,936 8.399 16.430 127,020 62,085 2.32% 10,675 Network Engines Inc NENG 56,544 5.297 9.820 104,828 48,284 1 .91% 812 NII Holdings Inc - C1 B NIHD 14,883 18.329 77.000 62,524 47,641 1 .14% 8,351 Optibase Ltd OBAS 54,869 6.570 6.640 55,451 581 1 .01% 9,544 Orbital Sciences Corp ORB 35,905 3.762 9.190 87,709 51,804 1.60% 9,116 Palatin Technologies Inc PTN 50,693 5.561 4.300 39,199 -11,494 0.72% 4,060 PD1 Inc PI)II 99,808 24.583 21 .651 87,903 -11,905 1.60% 13,095 Praecis Pharmaceuticals Inc PRCS 51,500 3.933 6.930 90,748 39,248 1.66% 1,452 Priceline.com Inc PCLN 27,491 18.933 28.180 40,917 13,427 0.75% 3,093 Rambus, Inc. RMBS 42,501 13.741 24.790 76,675 34,175 1 .40% 19,830 SBA Communications SBAC 55,946 2.821 4.070 80,708 24,762 1 .47% 2,066 Select Comfort Corp. SCSS 11,776 5.700 31 .240 64,542 52,766 1 .18% 2,308 Spectrasite Inc SSI 54,487 23.608 38.750 89,435 34,948 1.63% 15,581 Superconductor Tech SCON 74,186 4.761 5 .110 79,619 5,433 1.45% 9,424 Supergen Inc SUPG 79,688 8.456 10-320 97,256 17,568 1.78% 6,923 Telesystem Intl Wireless Inc TIWI 46,418 6.705 6.590 45,623 -795 0.83% 4,554 Time Warner Telecom TWTC 31,199 6.851 10.270 46,770 15,571 0.85% 15,897 TLC Vision Corp TLCV 75,502 4.749 6.790 107,941 32,439 1 .97% 5,007 Transaction Sys Archtcts TSAI 67,473 13.476 19.850 99,389 31,916 1 .81% 9,743 Tumbleweed Communications TMWD 42,307 4.342 6.340 61,771 19,463 1.13% 1,652 United Therapeutics UTHR 26,631 16.120 20.130 33,255 6,624 0.61% 8,784 Vans Inc. VANS 83,247 9.477 11 .280 99,084 15,837 1.81% 13,974 Ventiv Health Inc VTIV 93,118 6.664 8.500 118,779 25,661 2.17% 5,135 Viasat Inc VSAT 39,338 7.661 19.630 100,800 61,462 1.84% 2,944 VISX Incorporated EYE 65,700 22.316 24.260 71,421 5,722 1 .30% 10,272 Xo Communications Inc x0CM 74,531 7.256 5.350 54,955 -19,576 1.00% Stock Total - 71 3,887,036 5,266,091 1,379,055 96.15%

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Driehaus Capital Management Friday January 23, 2004 16:49:46 Page I Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056519 -- RHD FOUNDATION - ALLCAP

Sale Purchase Realized Unamortized Bond 0"antity Security Descritition Proceeds Date cost Date Gain (- Loss) Premigin Discount)

135.00 Aetna Inc-new 5,769.72 11/07/2002 6,741.67 05/02/2002 (971 .95) 000 26900 Angelica Corp. 5,681.34 11/07/2002 5,114.39 09/20/2002 566.95 0.00 121.00 Allstate Corp. 4,761.02 11/0712002 4,87930 10/25/2002 (118 .28) 0.00 478 .00 Anworth Mortgage Asset Corp . 5,974.81 11/07/2002 6,476.90 06/07/2002 (502 .09) 0.00 174.00 Blockbuster Inc -class A 3,697.38 11/0712002 4,478.76 10/1012002 (781 .38) 0.00 145.00 Berkley (WR) Corp. 5,272.17 11/07/2002 4,940.15 09/2612002 332.02 0.00 253 .00 Bank Mutual Corp 5,457.12 11/0712002 5,16434 08/0912002 292.78 0.00 264 .00 Immucor Inc. 5,983.16 11/0712002 4,914.41 10/04/2002 1,068.75 0.00 29300 Bancorpsouth Inc 5,265.75 11/07/2002 6,281.48 06/0712002 (1,015 .73) 0.00 138 00 Commerce Bancorp Inc./NJ 6,071.81 11/07/2002 6,713.70 05/09/2002 (641 .89) 0.00 101.00 CH Energy Group Inc 4,891.28 11/07/2002 5,151.00 09/01/2002 (25972) 0.00 430.00 Cumulus Media Inc. - Cl. A 7,228.94 11/07/2002 6,423.56 02/28/2002 805 .38 0.00 144.00 Corinthian Colleges Inc 5,386.87 11/07/2002 3,191.35 02107/2002 2,195.52 0.00 188.00 Cadbury Schweppes PLC - Spons. ADR 4,928.85 11/07/2002 5,018.30 07/23/2002 (8945) 0.00 102.00 Entercom Communications Corp. 5,133.73 11/0712002 4,999.19 09126/2002 13454 0.00 234.00 Hollywood Entertainment Corp. 3,964.65 11/0712002 4,433.11 10110/2002 (468 .46) 0.00 82.00 H&R Block Inc 2,951.91 11/07/2002 4,096.72 08/29/2002 (1,144.81) 000 36.00 H&R Block Inc 1,295.96 11/07/2002 1,461.60 10/0412002 (165 .64) 0.00 12600 Hearst - Argyle Television, Inc. 2,73S.07 11/07/2002 3,184.59 0912612002 (449.52) 0.00 72.00 Hearst - Argyle Television . Inc. 1,562.90 11/07/2002 1,838.22 09/27/2002 (275 .32) 0.00 143.00 In vision Technologies Inc. 4,683.10 11/07/2002 4,774.77 10125/2002 (91 .67) 0.00 142.00 Kraft Foods Inc-A 5,684.09 11/07/2002 6,105.70 0611412002 (421 .61) 0.00 100.00 Lancaster Colony Corp. 3,638.89 11/07/2002 4.140.00 08/29/2002 (501 .11) 0.00 118.00 Leucadia National Corp. 4,411 .88 11/0712002 4,127.64 08/29/2002 284 .24 0.00 134.00 Moody's Corporation 6,111 .55 11/07/2002 6,749.19 05/16/2002 (637 .64) 0.00 23100 Movie Gallery Inc 4,19554 11/07/2002 4,474.90 10/10(2002 (279.36) 0.00 184.00 New York community Bancorp 5,126.01 11/07/2002 4,587 .12 07/23/2002 538 .89 000 291 .00 Olin Corp . 4,476.17 11/0712002 4,836.42 10/18/2002 (360.25) 0.00 255 .00 Rait Investment Trust 5,307.99 11/07/2002 5,141 .87 08/01/2002 166.12 0.00 315.00 Remington Oil & Gas Corp 4,695.87 11/07/2002 4,916.39 10/0412002 (220.52) 0.00 313.00 Radio One Inc. 4,933.70 11/07/2002 5,191 .10 09/05f2OO2 (257.40) 0.00 172.00 Sovereign Bancorp Inc 2,383.84 11/07/2002 2,631 .60 0610712002 (247.76) 0.00 234.00 ulcl 3,608.61 11/07/2002 4,146.48 08/29/2002 (537.87) 0.00 68.00 ulcl 1,048.66 11/07/2002 1,100.92 10/1812002 (52.26) 0.00 19000 Valmont Industries 4,403.32 11/07/2002 3,681 .48 07123/2002 721 .84 0.00 513.00 Vintage Petroleum Inc. 4,742.02 11/07/2002 5,263.38 09/05/2002 (521 .36) 0.00 237.00 Sovereign Bancorp Inc 3,163.85 11/08/2002 3,626.10 06t0712002 (462 .25) 0.00 240.00 Affymetnx Inc. 6,318.71 11/1412002 5,000.14 09/26/2002 1,318.57 0.00 1,116.00 Amentrade Holding Corp . 5,222.71 11/14/2002 5,156.23 10/18/2002 66.48 000 182.00 Anteon International Corp 4,118.42 11/1412002 4,967.14 09/26(2002 (848 .72) 0.00 427.00 BIG LOTS INC 6,025.25 11/1412002 6,701 .34 04111/2002 (676.09) 0.00 110 .00 Burlington Resources Inc, 4,319.56 11/1412002 4,143.70 08/29/2002 17586 0.00 0 0 0

Driehaus Capital Management Friday January 23, 2004 16:49:46 Page 2 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056519 -- RHD FOUNDATION- ALLCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

106 .00 Clorox Company 4,73805 11/14/2002 4,894.78 1 1107/2002 (156 .73) 0.00 182 .00 Cabot Oil & Gas Corp. - Cl. A 3,976.25 11/14/2002 4,140.50 08129/2002 (164 .25) 0.00 37.00 Cabot Oil & Gas Corp. - Cl. A 808 .36 11/14/2002 826.95 10/18/2002 (18 .59) 0.00 21800 Dime Community Bancshares 4,537.86 11/14/2002 4,977.99 1011&'2002 (44013) 0.00 95.00 Devon Energy Corporation 4,168.47 11/14/2002 4,863.05 1011812002 (694 .58) 0.00 232.00 Energy East Corporation 4,735.46 11/14/2002 4,642.32 10110/2002 93.14 0.00 13600 EOG Resources Inc. 5,072.64 11/14/2002 4,803.52 10/04/2002 269.12 0.00 185 .00 Ensco International Inc. 4,926.40 11/1412002 4,829.76 10104/2002 9664 000 156 .00 Evergreen Resources Inc. 6,78267 11/14/2002 6,562.92 03/07/2002 219.75 0.00 15600 East West Bancorp Inc 4,918.26 11/14/2002 5.527 .66 07/12/2002 (609 .40) 0.00 208.00 Forest Oil Corp . 4,896.17 11/14/2002 5,166.10 08/15/2002 (269 .93) 0.00 511 .00 Grant Prideco Inc 4,518.22 11/14/2002 4,825.99 10/2512002 (307 .77) 0.00 133 .00 Hovnanian Enterprises - A 4,452.38 11/1412002 4,103.05 08/29/2002 349.33 0.00 182 .00 Hydril Company 4,137.91 11/14/2002 4,85758 1012512002 (719 .67) 0.00 170 .00 Independence Comminty Bank 4,195.64 11/14/2002 5,226.00 08115/2002 (1,030.36) 0.00 9.00 Independence Comminty Bank 222 .12 11/14/2002 22491 IWIV2002 (2.79) 0.00 46800 Infineon Technologies Adr 4,001.27 11/14/2002 4,979.52 11/07/2002 (978 .25) 0.00 401 .00 ]MC Global Inc 4,723.63 11/14/2002 5,136.81 08/15/2002 (413 .18) 0.00 121 .00 Jefferies Group, Inc. 5,111.23 11/14/2002 5,190.44 09/05/2002 (79 .21) 0.00 219.00 Multimedia Games, Inc. 4,590.10 11/14/2002 4,53987 10/10/2002 50.23 0.00 122 .00 M/I Schottenstein Homes Inc. 3,588.22 11/14/2002 4,130.08 08/29/2002 (541 .86) 0.00 146 .00 Noble Energy Inc 5,093.78 11/14/2002 4,965.46 09/2612002 128 .32 0.00 14000 Newfield Exploration Company 4,801.85 11/14/2002 4,915.40 1011812002 (113 .55) 0.00 168 .00 Overture Services Inc 3,892.05 11/14/2002 4,486.99 10/10/2002 (59494) 0.00 143 .00 Occidental Petroleum Corp . 3,932.68 11/1412002 4,168.85 OV29/2002 (236.17) 0.00 19.00 Occidental Petroleum Corp . 522.52 11/14/2002 575.32 10/18/2002 (52 .80) 0.00 138.00 Precision Drilling Corp. 4,631.14 11/14/2002 4,919.19 11/07/2002 (288 .05) 0.00 17000 Performance Food Group 6,147.01 11/1412002 6,221 .81 06107/2002 (74.80) 0.00 19600 Pogo Producing Co. 6,801.62 11/14/2002 6,685.56 05/0912002 116 .06 0.00 164.00 Pattcrson-UTI Energy Inc 4,580.38 11/14/2002 4,956.08 11/07/2002 (375 .70) 0.00 245 .00 Pioneer Natural Resources Co 5,556.72 11/1412002 5,948.60 07/02/2002 (391 .88) 0.00 155.00 Raymond James Financial Inc. 4,73665 11/1412002 4,865.45 10/31/2002 (128 .80) 000 251 .00 Roslyn Bancorp 4,369.77 11114/2002 5,347.61 07/3012002 (977 .84) 0.00 20600 Shire Pharmaceuticals Gr. - ADR 4,843.55 11/14/2002 5,002.20 10/31/2002 (15865) 0.00 59.00 SJW Corp . 4,935.20 11/1412002 4,814.40 10104/2002 12080 0.00 20900 Sara Lee Corp. 4,798.49 11/14/2002 4,52694 10/10/2002 271 .55 0.00 245 .00 Stens Corp 6,232.61 11/14/2002 5.162 .76 09101/2002 1,069.85 0.00 55.00 Student Low Corp 5,354.08 11/14/2002 5,208.50 09/0512002 145-58 0.00 253 .00 Sensient Technologies Corp 6,250.55 11/1412002 5,325.65 07/30/2002 924.90 0.00 244.00 Tom Brown Inc 5,569.84 11/14/2002 6,636.56 03/21/2002 (1,066.72) 0.00 33300 Yahoo! Inc. 5,445.58 1111412002 4,992.20 10/18/2002 453.38 0.00 483.00 Hollinger International Inc. 4,399.65 11/15/2002 4,940.63 1 Of 1 &12002 (440.98) 0.00 Driehaus Capital Management Friday January 23, 2004 16:49:46 Page 3 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056519 -- RHD FOUNDATION -ALLCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Less) Premium Discount)

183 .00 R H Donnelley Corp 4,935.36 11/15/2002 4,54938 1011012002 385.98 0.00 395.00 Airborne Inc. 4,972.89 11/21/2002 5,047-63 10125/2002 (74.74) 0.00 159.00 Arkansas Best Corp. 4,668.77 11/2112002 4,816.11 10/31/2002 (147 .34) 0.00 329.00 AGCO Corp. 7,372.89 11/2112002 6,290.48 0212 1 f2002 1,082.41 000 21500 Alaska Airgroup Inc. 4,650.75 11/21/2002 4,837.97 11/14/2002 (187 .22) 0.00 290.00 American Greetings Corp - Cl. A 4,585.31 11/21/2002 4,979.01 09/20/2002 (393.70) 0.00 76.00 AutoZone Inc. 6,400.52 11/21/2002 6,260.88 06t07/2002 139 .64 0.00 210.00 British Airways - Spons. ADR 5,162.54 11/21/2002 4,82082 11/1412002 341 .72 0.00 236.00 Coca-Cola Enterprises 5,01484 11/21/2002 5,059.84 09/20/2002 (45 .00) 0.00 23100 City Holding Co. 6,846.63 11/21/2002 4,84860 07/23/2002 1,998.03 000 169.00 Cox Communications Inc. - Cl. A 5,079.20 11/21/2002 4,977.05 10(25/2002 102 .15 0.00 7000 Cognizant Tech. Solutions Corp. 4,941.85 11121/2002 4,844.00 10/25/2002 97 .85 0.00 136.00 Deere & Co. 6,855.55 11121/2002 6,317.20 02/2112002 538-35 0.00 249 .00 Echostar Communications - A 4,839.61 11/2112002 5,090.41 11/07/2002 (25080) 0.00 15800 Dionex Corp . 4,949.50 11/2112002 4,864-76 10/31/2002 84 .74 0.00 71.00 Expedia Inc -CL A 5,241.88 11/21/2002 4,806.70 10131/2002 435.18 0.00 528 .00 General Motors - Class H 5,34805 11/21/2002 5,355.56 09/1212002 (751) 0.00 1,339.00 Gemstar TV Guide Intl 5,506.53 11/2112002 4,955.98 10/31/2002 550-55 0.00 924.00 Hoovers Inc 4,989.44 11/21/2002 5,09069 10128/2002 (101 .25) 0.00 547 .00 Liberty Financial Companies 5,458.89 11/21f2002 4,994.11 11107/2002 464.78 0.00 158.00 Leapfrog Enterprises Inc 4,90215 11/21/2002 4,707.48 11/14/2002 19467 0.00 337 .00 Luxottica Group SPA - Spon. ADR 4,028.84 11/21/2002 4,519.17 10/10/2002 (490 .33) 0.00 378 .00-- Maverick Tube Corp 4,472.47 11/21/2002 4,864.86 10/31/2002 (392 .39) 000 295 .00 Old Dominion Freight Line 6,877.01 11/2112002 5,017-71 09/20/2002 1,859.30 0.00 360 .00 Overland Storage Inc. 4,433.48 11/21/2002 4,892-69 11/1412002 (459 .21) 0.00 37200 P G & E Corporation 4,954.88 11/21/2002 4,57560 11/15/2002 379-28 0.00 142 .00 Pec Solutions Inc. 4,833.81 11121/2002 4,948.70 105112002 (114.89) 0.00 273 .00 Penn Nad Gaming Inc 4,979.36 11/21/2002 5,18192 09/1212002 (202 .56) 0.00 171 .00 Polymedia Corp 5,103.22 11121/2002 4,542-62 10(10(2002 560.60 0.00 738.00 Plug Power Inc 4,221 .23 11/21/2002 4,676.26 10/31/2002 (455.03) 0.00 1,074.00 Partner Communications - ADR 4,090.47 11/21/2002 5,022.41 10/2512002 (931 .94) 0.00 111 .00 Ryanair Hldg PLC - Spons ADR 5,088.49 11/21/2002 4,787.43 11/14/2002 301 .06 0.00 347.00 Sinclair Broadcast Group 4,367.76 11/21/2002 5,138.93 0912612002 (771 .17) 0.00 221 .00 Sharper image Corp . 4,385.76 11/2112002 4,861 .71 10118/2002 (475-95) 0.00 552.00 Signal Technology Corp 5,707 .06 11121/2002 4,968.00 09/2612002 739.06 0.00 386.00 Tyson Foods Inc-Cl A 4,670.45 11/21/2002 4,84044 11/14/2002 (169 .99) 000 202.00 Vendian Corp 4,021.25 11/21/2002 4,657-72 10110/2002 (636 .47) 0.00 17300 Yellow Corporation 4,80022 11/21/2002 4,861.44 10/04/2002 (61 .22) 0.00 165 .00 C H Robinson Worldwide Inc. 4,989.44 11/2212002 4,973.10 11/07/2002 16.34 0.00 1.00 Cash in Lieu - Short Term 688 1 1/22/2002 0.00 1 1/22t2002 688 0.00 1.00 Cash in Lieu - Short Term 5.60 1112212002 0.00 11/22/2002 5.60 0.00 109.00 Coca-Cola Bottling Co. Consol 6,175.75 11/2212002 5,350.17 07/30/2002 825 .58 0.00

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Sale Purchase Realized Unamortized Bond ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

240-00 Pepco Holdings Inc 4,773.62 11122/2002 5,133.60 08/15/2002 (359.98) 0.00 239.00 Provident Financial HIdg 6,226.14 11/22/2002 5.398 .84 07/30/2002 827 .30 000 348.00 Archer-Daniels-Midland Co. 4,589.98 11/29/2002 4,819.80 11/14/2002 (229 .82) 0.00 256-00 Flagstar Bancorp Inc 4,694.65 11/29/2002 5,222.40 07/30/2002 (537.75) 0.00 152-00 Firstenergy Corp 4,777.21 11129/2002 4,933.34 10/3112002 (156 .13) 0.00 203-00 Gtech Holdings Corp. 4,641 .38 11/29/2002 4,94914 09/20(2002 (307 .76) 0.00 176-00 Headwaters Inc 2,809.26 11/29/2002 2,766.72 07/0212002 42 .54 0.00 153 .00 Landamerica Financial Group 5,529.82 11129/2002 5,145.39 08/01/2002 384.43 0.00 554.00 Massey Energy Company 4,86325 11/29/2002 5,041.40 11/21/2002 (178 .15) 0.00 336.00 Apex Silver Mines Ltd 4,538.68 11/29/2002 4,928.78 10/31/2002 (39010) 0.00 143.00 Zimmer Holdings Inc. 5,428.11 11129/2002 5,190.90 08/01/2002 237 .21 0.00 208-00 Headwaters Inc 3,220.09 12/02/2002 3,269.76 07/0212002 (49 .67) 0.00 272.00 Agi lent Technologies Inc 4,61298 12/05/2002 4,971.56 11/21/2002 (358 .58) 0.00 254.00 ATMI Inc. 5,248.06 12/05/2002 4,977.54 11/0712002 270.52 0.00 130-00 Clear Channel Communications 5,357.13 12105/2002 5,016.70 11/07/2002 340.43 0.00 201 .00 Celgene Corp . 4,32319 12/05/2002 5,014.11 11/22/2002 (690 .92) 0.00 82-00 Cephalon Inc. 4,324.54 12/05/2002 4,792.90 11/1412002 (468 .36) 0.00 144-00 Comcast Corp - CI A 3,429.80 1210512002 3,171.06 09/05/2002 258.74 0.00 186.00 CvMerapeutics Inc. 4,034.21 12/05/2002 5,072.22 11/21/2002 (1,038 .01) 0.00 261 .00 'Me Walt Disney Co. 4,541 .26 12/05/2002 4,815.45 11/07/2002 (274 .19) 000 574.00 Foundry Networkd Inc. 4,85084 12105/2002 4,866.77 11/14/2002 (15 .93) 0.00 179-00 Fox Entertainment 4,544.67 12/05/2002 4,83300 11/07/2002 (288 .33) 0.00 68.00 Forest Laboratories Inc. 7,295.50 12/05/2002 5,209.60 08/01/2002 2,085.90 0.00 224.00 Interactive Corp 5,557.27 12/0512002 4,836.34 10118/2002 72093 0.00 321-00 Ingram Micro Cl A 4,089.60 12/05/2002 4,82261 11/14/2002 (733 .01) 0.00 256.00 Penney (J.C .) Co. 5,79261 12/05/2002 4,912.64 10/31/2002 879.97 0.00 869.00 Kopin Corp. 3,849.55 12/05/2002 5,127.10 11/21/2002 (1,277 .55) 0.00 224.00 KT Corp - SP ADR 4,785.61 12/0512002 5,062.40 11121/2002 (276 .79) 0.00 462.00 Macromedia Inc. 5,415.53 12105/2002 5,115.73 11/07/2002 299.80 0.00 334.00 Metro--Goldwyn-Mayer Inc. 4,395.67 12/05/2002 4,809.60 11/14/2002 (413 .93) 0.00 171 .00 Mercury Computer System 4,901 .82 12105/2002 4,941.90 10125/2002 (40.08) 0.00 300-00 National Semiconductor Corp 5,24384 12/05/2002 4,888.08 11/14/2002 355.76 0.00 136-00 Novellus 4,26347 12/05/2002 4,885.12 11/21/2002 (621 .65) 0.00 228.00 Royal Caribbean Cruises 4,318.41 12/05/2002 4,810.80 11/14/2002 (492 .39) 0.00 615.00 Sepracor Inc. 5,521 .92 12105/2002 5,098.35 1 Gr2512002 423.57 0.00 99-00 Tribune Co. 4,444.96 12/05/2002 4,839.12 10/31/2002 (394 .16) 0.00 8.00 Washington Post - Cl. B 5,819.10 12105/2002 4,956.80 08101/2002 862.30 0.00 123.00 Symantec Corp. 5,099.24 12/06/2002 4,856.04 10/25/2002 243.20 000 1,218-00 Terra Industries Inc. 2,169.41 12/06/2002 2,462.04 10111/2002 (292 .63) 000 218.00 Tower Semiconductor Ltd 1,004.95 12/0612002 959.20 11/14/2002 45.75 0.00 125-00 Tower Semiconductor Ltd 576.23 12/06/2002 562.50 11/1512002 13 .73 0.00 801-00 Tower Semiconductor Ltd 3,692.49 12/0612002 3,766.90 11/1812002 (74.41) 0.00 Driehaus Capital Management Friday January 23, 2004 16:49:46 Page 5 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056519 -- RHD FOUNDATION - ALLCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Descritition Proceeds Date Cost Date Gain (- Loss) Premium Discount)

231 .00 Belo (A H.) Corp . - Com. Ser. A 4,977.15 12/12/2002 5,215.73 09/05/2002 (238.58) 0.00 143 .00 BT Group PLC - Spon ADR 4,301.74 12/12/2002 4,822.13 11/14/2002 (520.39) 0.00 855 .00 Candela Corp. 4,784.94 12/12/2002 5,057.50 10/25/2002 (272.56) 0.00 2,38600 Digitalthink Inc 4,63076 12/1212002 5,363.52 12/05/2002 (732.76) 000 1,067.00 Earthlink Inc 6,028.36 12112/2002 6,66875 11/07/2002 (640.39) 0.00 I- 121 .00 Fr] Consulting Inc. 4,772.27 12/12/2002 4,942.85 11/0712002 (17058) 0.00 70100 Greenbrier Companies Inc. 4,316.13 12112/2002 4,820.43 11/15/2002 (504.30) 000 133 .00 Gilead Sciences Inc. 4,927.71 12/1212002 4,573.87 10110f2002 353 .84 000 1,428.00 Hams Interactive, Inc. 4,037.47 12/1212002 5,179.30 11/07/2002 (1,141 .83) 0.00 249 .00 Kroll Inc 4,937.52 12/12/2002 5,298.67 09/12/2002 (361 .15) 000 146 .00 Leapfrog Enterprises Inc 4,085.34 12/12/2002 4,905.31 12105/2002 (819 .97) 0.00 177 .00 Navistar International 4,234.45 12/1212002 4,888.74 11/21/2002 (654 .29) 0.00 567 .00 Universal Display Corp 5,266.64 12/12/2002 4,97202 1013112002 29462 0.00 25800 Park Electrochemical Corp. 4,95345 12/12/2002 4,876.20 11/1412002 77.25 0.00 100.00 Synopsys Inc. 4,53886 12/12/2002 4,81000 11/1412002 (271 .14) 0.00 301 .00 Telecom Brasileiras Ads 5,115.24 12/1212002 5,00003 10/2512002 115.21 0.00 163 .00 Telefonica SA - Spon. ADR 4,428.57 12/1212002 4,849.25 11/1412002 (42068) 000 56.00 Telecom Italia Ads Cl A 4,357.22 12112/2002 4,750.48 11/21/2002 (393 .26) 0.00 1,170.00 Terra Industries Inc. 1,968.72 12/1212002 2,319.70 10110/2002 (35098) 0.00 58.00 Terra Industries Inc. 97.59 1211212002 117 .24 10/11/2002 (19 .65) 000 274 .00 Amylin Pharmaceuticals Inc. 4,795.01 1211912002 4,821.03 1061/2002 (2602) 0.00 723 .00 ATI Technologies Inc ADR 3,593.19 12/19/2002 5,014.73 11/07/2002 (1,421 .54) 0.00 289 .00 Checkfree Corp. 4,499.79 12/19/2002 4,74905 11/07/2002 (249 .26) 000 160.00 Cost Plus IncJCalifomia 4,550.44 12/19/2002 5,020.83 11 f22/2002 (470 .39) 0.00 2".00 Cree Inc. 4,213.21 12/19/2002 4,674.23 11/07/2002 (461 .02) 0.00 859 .00 Cirrus Logic Inc. 2,262.56 12/19/2002 5,300.03 11/29/2002 (3,037 .47) 000 1,870.00 Digi International Inc. 5,68438 12/1912002 4,602.41 11/15/2002 1,081.97 0.00 306.00 Emnus Broadcasting CI A 6,165.71 12/19/2002 5,312.16 09/1212002 853.55 0.00 485 .00 Entegris Inc 4,249.05 12/19/2002 5,218.60 11/22/2002 (96955) 0.00 438 .00 Genta Inc. 3,805.97 12119/2002 4,962.54 11/21/2002 (1,156 .57) 0.00 309.00 Gap Inc. 4,900.59 12/19/2002 4,891 .47 12/05/2002 9.12 000 1,109.00 GlobeSpan Virata Inc 5,023.61 12/19/2002 5,40083 11/29/2002 (377 .22) 000 376.00 Interdigital Comm Corp 5,708.36 12/19/2002 4,995.42 1061/2002 712.94 0.00 225 .00 Kos Pharmaceuticals Inc. 4,457.11 12/19/2002 4,982.76 11/21/2002 (525 .65) 0.00 732 .00 Mcdata Corporation-a 4,874.97 1211912002 4,882." 10/25/2002 (7.47) 0.00 308,00 Medicines Company 4,820.98 12/19/2002 4,901 .08 1112112002 (8010) 0.00 319 .00 Medicines Company 4,993.15 12/19/2002 5,269.75 11/2212002 (27660) 0.00 1,172.00 Micromuse, Inc. 3,978.44 1211912002 5,359.29 11129/2002 (1,380 .85) 0.00 784.00 Knight Trading Grp Cl A 3,817.96 12/19/2002 5,213.60 11/29/2002 (1,395 .64) 0.00 174.00 N P S Pharmaceuticals 4,513.47 12119/2002 5,066.88 11/2112002 (553 .41) 000 855.00 Officemax Inc 4,211 .39 12119/2002 4,862.08 11/1412002 (65069) 0.00 567 .00 Pinnacle Systerns Inc 7,6115.31 12119/2002 5,465.71 071.30/2002 2.149 .60 0.00

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Dyiehaus Capital Management Friday January 23, 2004 16:49:46 Page 6 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056519 -- RHD FOUNDATION - ALLCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Descriotion Proceeds Date cost Date Gain (- Loss) Premium Discount) 244.00 PetsMart Inc. 4,367.46 12/19/2002 4,901.96 10/25/2002 (534.50) 0.00 97.00 Pixar 5,72865 12/1912002 4,928.57 10/31/2002 80008 0.00 77.00 Pixar 4,547.48 12/1912002 4,483.64 11/2212002 63 .84 0.00 921.00 PLX Technology Inc 4,204.15 12/1912002 5,198.95 11/2V2002 (994.80) 0.00 278 .00 Pouer Integrations Inc 5,02627 12/19/2002 5,06238 11/07/2002 (36 .11) 0.00 250.00 Regeneron Pharmaceutical 4,989.06 12119/2002 5,290.92 11/21/2002 (301 .86) 0.00 215.00 Silicon Laboratories Inc 4,396.91 12/19/2002 4,874-03 11/1V2002 (477 .12) 0.00 113 .00 Trimens Inc 4,648.67 12/19/2002 5,125.68 09/26/2002 (477.01) 0.00 633.00 Ulticom Inc 4,60866 12/19/2002 4,987.53 12/05/2002 (378 .87) 0.00 136 .00 University of Phoenix Online 4,782.97 12119/2002 4,913.68 12/0612002 (130.71) 0.00 278.00 United Therapeutics 4,734.19 12/19/2002 4,944.15 11121/2002 (209.96) 0.00 307.00 United Therapeutics 5,228.05 12/19/2002 5,314.63 1 1/22t2002 (86 .58) 0.00 711.00 MEMC Electronic Materials 5,345.13 12119/2002 4,948.56 10/31/2002 396.57 0.00 10.00 Checkfree Corp. 17089 12/2312002 164 .33 11/07/2002 6.56 0.00 18.00 Cree Inc. 304.37 12/2312002 344 .82 11/07/2002 (40.45) 0.00 71.00 Digi International Inc. 219.60 12123/2002 174.74 11/15/2002 " 86 0.00 176.00 Adtran Inc. 6,300.90 01/03/2003 4,814.30 11/14/2002 1,48660 0.00 213.00 Angelica Corp. 4,014.73 01/03/2003 4,909.65 12105/2002 (894.92) 0.00 340.00 Dycom Industries Inc. 4,535.46 01/0312003 5,193.74 11/29/2002 (658.28) 0.00 219 .00 Itron Inc 4,402.26 01/03/2003 5,155.98 11/07/2002 (753.72) 0.00 528.00 Juniper Networks Inc. 3,855.12 01/03/2003 5,237.76 11/29/2002 (1,382 .64) 0.00 379.00 Nuevo Energy Co. 4.199.95 01/03/2003 4,866.63 12/1212002 (666.68) 0.00 358 .00 Neoware Systems Inc 5,560.54 01/0312003 4,860.78 10131/2002 69976 0.00 2,055.00 Openwave Systems Inc 4,289.16 01/03/2003 5,126.72 12/05/2002 (837.56) 0.00 227 .00 OSI Pharmaceuticals Inc. 3,768.78 01/03/2003 5,015.68 11/21/2002 (1,24690) 0.00 678.00 Osteotech Inc. 4,287.19 01/03/2003 4,752.78 12/19/2002 (465 .59) 000 144 .00 Patina Oil & Gas Corp 4,617.62 01/0312003 4,858.56 12tl2/2002 (240.94) 0.00 1,00000 Presstek Inc. 4,607.93 01/03/2003 5,310.00 11/07/2002 (702.07) 0.00 962 .00 Presstek Inc. 4,432.82 01/03/2003 5,137.08 11/22/2002 (704 .26) 0.00 201 .00 Ticketmaster Online 4,474.74 01/03/2003 4,805.17 10131/2002 (330.43) 0.00 466.00 Zygo Corp. 3,616.04 01/0312003 2,823.96 11/1412002 792.08 0.00 35000 Zygo Corp. 2,764.91 01/06/2003 2,121 .00 11/14/2002 643 .91 0.00 403.00 Alliance Gaming Corp. 6,212.22 01/10t2003 5,280.39 08/01/2002 931 .83 000 110 .00 Burlington Resources Inc. 4,553.86 01/10/2003 4,691 .50 12119/2002 (137 .64) 0.00 554.00 Crown Cork & Seal Co. Inc. 4,349.09 01/1012003 4,753.32 12/12/2002 (404.23) 0.00 609.00 Chesapeake Energy Corp. 4,877.94 01/1012003 4,741 .80 12/19/2002 136.14 0.00 112 .00 Capstead Mortgage Corp . 2,601.19 01/1012003 2,764.16 01/03/2003 (162.97) 0.00 164 .00 Encana Corp 5,083.84 01/1012003 4,965.92 12/1212002 117 .92 0.00 117 .00 EOG Resources Inc. 4,569.88 01/1012003 4,855.50 12/12/2002 (28562) 0.00 132 .00 FBR Asset Investment Corp 4,557.82 01/1012003 4,704.28 12/19/2002 (146.46) 0.00 177 .00 Forest Oil Corp . 4,230.17 01/1012003 4,896.65 12/05/2002 (666.48) 0.00 1.683 .00 Gric Communications Inc 3,688.00 01/10/2003 5,230.45 11/2212002 (1,542.45) 0.00 Driehaus Capital Management Friday January 23, 2004 16:49:46 Page 7 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056519 -- RHD FOUNDATION - ALLCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount) 289.00 Hain Celestial Group Inc. 4,454.94 01/10/2003 4,65131 12/19/2002 (196 .37) 0.00 689.00 Harvest Natural Resources 3,916.85 01/1012003 5,194.72 11/22/2002 (1,277 .87) 0.00 15400 ldexx Laboratories Inc. 5,055.86 01/1012003 4,864.40 10/04/2002 191 .46 0.00 383.00 Impac Mortgage Holdings Inc 4,454.15 01/1012003 4,629.82 12/19/2002 (175 67) 0.00 998.00 Integrated Silicon Solut 4,293.88 01/10/2003 4,99000 12/0512002 (696 .12) 0.00 372.00 Ma venck Tube Corp 4,616.74 01110/2003 4,999.53 12106/2002 (382 .79) 0.00 122.00 Noble Energy Inc 4,313 .51 0 1 / I Or2OO3 4,869.50 12/1212002 (555 .99) 0.00 238.00 Annaly Mortgage Management Inc 4,57246 01/10/2003 4,67670 12/19/2002 (104 .24) 0.00 223.00 Premcor Inc 4,87463 01/1012003 4,990.74 12/0512002 (116 .11) 0.00 943.00 Sprint Corporation PCS Group 4,581 .70 01/10(2003 4,818.73 11/21/2002 (237 .03) 0.00 15000 Panera Bread Company 5,407.33 01/10/2003 5,126.36 11/07/2002 280.97 0.00 13100 Pogo Producing Co. 4,830.37 01/10f2003 4,951 .15 12/06/2002 (120 .78) 0.00 17500 Provident Financial Hldg 4,720.11 01/10/2003 4,679.50 12/19/2002 40.61 0.00 153.00 Patterson-UTI Energy Inc 4,338.19 01/10/2003 4,906.27 12/1212002 (568 .08) 0.00 213 .00 Pactiv Corp 4,691.49 01/10(2003 4,60932 12/19/2002 82.17 0.00 186.00 Pioneer Natural Resources Co 4,547.71 01/10/2003 4,849.02 1211212002 (301 .31) 000 140.00 Stone Energy Corp 4,671.02 01/10/2003 4,708.06 12/19/2002 (37 .04) 0.00 27800 Staten Island Bancorp 5,871 .18 01/10/2003 5,009.56 10125/2002 861 .62 0.00 313 .00 Apex Silver Mines Ud 4,893.14 01/10/2003 4,713.78 12/19/2002 17936 0.00 187 .00 St Mary Land & Explora 4,714.12 01/1012003 4,918.10 12/0512002 (203 .98) 0.00 182.00 Tom Brown Inc 4,513.46 01/10/2003 4,871.14 12/12/2002 (357 .68) 0.00 130.00 Trex Corp 4,791 .65 01/10/2003 4,688.67 12/1912002 102.98 000 129 .00 UG I Corp . 4,926.36 01/10/2003 4,857.40 12/12/2002 68.96 0.00 458.00 Vintage Petroleum Inc. 4,687.62 01/1012003 4,944.52 12112/2002 (256 .90) 0.00 195 .00 Washington Gas light Co. 4,781.25 01/10/2003 4,695.85 12/19/2002 85.40 0.00 241 .00 Westport Resources Corp 4,870.46 0111012003 4,887.48 12/1212002 (17 .02) 000 1,13300 An ba Inc 2,857.98 01/22/2003 5,090.59 11/21/2002 (2,232 .61) 0.00 370.00 Boston Communications Gr 4,074.61 01/2212003 4,917.30 10131/2002 (842 .69) 0.00 130 .00 Cooper Industries Inc. 4,534.08 01/22/2003 4,817.80 12/1212002 (283 .72) 0.00 157 .00 C H Robinson Worldwide Inc. 4,514.11 01/2212003 4,929.80 12105/2002 (415 .69) 000 124 .00 Columbia Sportswear Co. 5,266.12 01/22/2003 5,018.28 10/31/2002 247.84 0.00 31000 Cree Inc 5,393.99 01/2212003 5,794.12 01/10/2003 (400 .13) 0.00 195 .00 Ctj Molecular Imaging Inc 4,643.27 01/2212003 4,951.56 12106(2002 (308 .29) 0.00 63.00 Dow Jones & Co. Inc. 2,606.86 01/22/2003 2,763.18 01/0312003 (156 .32) 0.00 152 .00 Eastman Kodak Co. 5,13440 01/2212003 4,848.80 10/1812002 285.60 0.00 206.00 Callaway Golf Company 2,426.60 01122/2003 2,797.48 01/03/2003 (370 .88) 000 102 .00 Entergy Corp . 4,674.51 01/2212003 4,627.74 12/19/2002 46.77 0.00 421 .00 General Motors - Class H 4,534.16 01/2212003 4,684.80 12/19/2002 (150 .64) 0.00 59.00 Greenpoint Financial Corp 2,592.97 01/2212003 2,76061 01/03/2003 (167 .64) 0.00 57.00 Garmin Ltd 1,618.75 01/2212003 1,60173 12/19/2002 17.02 0.00 1,027.00 GlobeSpan Virata, Inc 4,786.88 01/22/2003 5,977.55 01/10/2003 (1,19067) 0.00 161 .00 Gtcch Holdings Corp. 4,411.26 01122/2003 4,615.87 12/19/2002 (204 .61) 0.00 D,riehaus Capital Management Friday January 23, 2004 16:49:46 Page 8 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056519 -- RHD FOUNDATION - ALLCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Descrit)tion Proceed Date Cost Date Gain (- Less) Premium Discount)

78.00 Intl Flavors & Fragrances 2,665.17 01/2212003 2.780.09 01/03/2003 (11492) 000 464.00 Ingram Micro CI A 5,147.97 01/22/2003 5,936.04 01/1012003 (788 .07) 0.00 17000 4luds Entertainment Inc 3,411 .16 01/22/2003 4,424.83 10/10/2002 (1,013 .67) 0.00 1,228.00 Lexar Media Inc. 5,621 .97 01/22/2003 4,957.84 10/31/2002 664.13 0.00 195 .00 Ment Medical Systems Inc. 3,694.72 01122/2003 4,307.55 10110/2002 (612 .83) 0.00 163 .00 Occidental Petroleum Corp . 4,642.09 0112212003 4,684.62 12/19/2002 (42 .53) 000 25600 Philips Electronics NV - NY Shares 4,221 .49 01/2212003 4,879.36 12/1212002 (657 .87) 0.00 22000 Puget Energy Inc. 4,369.06 01/22/2003 4,947.77 12/12/2002 (478 .71) 0.00 134 .00 Roadway Express Inc. 4,554.52 01122/2003 4,99686 09/26/2002 (442 .34) 000 903.00 RADVision Ltd. 5,210.14 01/22/2003 5,047.32 11/14/2002 162.82 O.W 121 .00 RADVision Ltd. 698.15 01/22/2003 76851 11/21/2002 (7036) 0.00 36.00 RADVision Ltd. 207.71 01/22/2003 241 .92 11/2212002 (3421) 0.00 19.00 RADVision Ltd. 109 .63 01/2212003 123 .69 11125/2002 (14 .06) 000 98 00 Istar Financial Inc. 2,697.85 01/22/2003 2,778.30 01/03/2003 (80.45) 0.00 703.00 Silicon Image Inc 4,056.18 01/22/2003 5,20705 11/21/2002 (1,15087) 0.00 237.00 Sandisk Corp 4,325.43 01/2212003 4,944.67 10/25/2002 (619 .24) 0.00 137 .00 Sandisk Corp 2,500.35 01/22/2003 3,711.51 11/2212002 (1,211 .16) 000 147 .00 Sunoco Inc. 4,647.99 01/22/2003 4,843.50 12/12/2002 (19551) 0.00 231 .00 71ornburg Mtge Asset Corp 4,649.60 01/22/2003 4,689.88 12119/2002 (40 .28) 0.00 693.00 Tele Norte Leste Participacoes 5,345.91 0112212003 4,91282 1013112002 433 .09 0.00 505.00 Ultratech Stepper Inc. 5,326.12 01/22/2003 5,964.05 01/10/2003 (637 .93) 0.00 127.00 Valero Energy Corp . 4,532.49 01/22/2003 4,692.65 12/19/2002 (160.16) 0.00 69.00 Zimmer Holdings Inc. 2,686.77 01/22/2003 2,794.18 01/03/2003 (107 .41) 0.00 8.00 4ldds Entertainment Inc 156 .96 01/23/2003 208 .23 10/10/2002 (51 .27) 0.00 54.00 Alberto-Culver Co. - Cl. B 2,681 .01 01/30/2003 2,76264 01/0312003 (81 .63) 0.00 87.00 Federal Agric Mtg Corp Cl C 2,318.47 01/3012003 2,772.32 01/03/2003 (453 .85) 0.00 401 .00 Avista Corp 4,274.53 01/30/2003 4,694.11 12/19/2002 (419 .58) 0.00 21600 Chattern Inc. 3,438.18 01/30/2003 4,624.56 10110/2002 (1,186 .38) 0.00 23000 Cognos Inc. 5,180.87 01/30/2003 5,94435 01/10/2003 (763 .48) 0.00 950.00 Compuware Corporation 3,257.32 01/30/2003 5,130.00 11/07/2002 (1,872 .68) 0.00 157 .00 Cablevision Systems - Cl. A 2,708.16 01/30/2003 2,782.04 01/0312003 (73 .88) 000 242.00 Documenturn Inc. 3,47092 01130/2003 4,368.20 11/14/2002 (89728) 0.00 28.00 Documentum Inc. 401 .59 01/30/2003 506.58 11/15/2002 (104 .99) 0.00 331 .00 EgI Inc 4,252.09 01/3012003 4,72006 11/14,r2002 (467 .97) 0.00 255 00 Electronics For Imaging 4,379.66 01130/2003 5,04079 11/07/2002 (661 .13) 0.00 311 .00 Genesis Microchip Inc. ADR 4,649.36 01/30/2003 4,958.90 11/1412002 (30954) 0.00 710.00 Informatica Corp 4,834.95 01/30/2003 5,012-96 11/21/2002 (178 .01) 0.00 272.00 Longs Drug Stores Corp . 5.739.02 01/30/2003 6,064.92 01/10/2003 (325 .90) 0.00 150.00 Mobile Telesystems - Sp ADR 5,480.83 01/3012003 5,08437 10/31/2002 396.46 0.00 110.00 Overstock .corn Inc 1,616.95 01/3012003 1.09594 11/15/2002 521 .01 0.00 371 .00 Overstock .com Inc 5,453.53 01130/2003 4,192.30 11/18/2002 1,261.23 0.00 171.00 Overture Services Inc 3,898.68 01/3012003 4,942.93 12/0612002 (1,044 .25) 000 Driehaus Capital Management Friday January 23, 2004 16:49:46 Page 9 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056519 -- RHD FOUNDATION - ALLCAP

Sale Purchase Realized Unarnortized Bond Ouantity Security Descriotion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

488.00 Omnivision Technologies 6,635.91 01/30/2003 5,240.58 11/07/2002 1,395.33 000 55.00 Pulte Corp. 2,755.41 01/30/2003 2,757.15 01/03/2003 (1 .74) 0.00 145.00 Prudential Financial Inc 4,644.20 01/30(2003 4,674.80 12/19/2002 (3060) 0.00 858.00 Power One Inc 4,470.04 OWO/2003 4,983.26 10/31/2002 (51322) 0.00 355.00 Quintiles Transnational 4,511 .91 0 MO/2003 4,719.05 01/22/2003 (207 .14) 0.00 2,001.00 Rite Aid Corp. 5,353.44 01/30/2003 6,014.88 01/10/2003 (661 .44) 000 197.00 Ralcorp Holdings Inc. 4,751 .49 0113012003 4,865.90 12/12/2002 (114.41) 0.00 736.00 Red Hat Inc. 3,937.47 01/30/2003 5,284.48 11129/2002 (1,347 .01) 0.00 219.00 Saxon Capital Inc. 2,588.17 01/30/2003 2,791.68 01/03/2003 (203 .51) 0.00 221 .00 SK Telecom Co Ltd-ADR 3,715.31 01/30/2003 4,818.02 11/1412002 (1,102.71) 0.00 523 .00 Skechers USA Inc - CI A 4,055.06 01/3012003 4,701.14 01/22/2003 (64608) 0.00 165.00 Southern Co. 4,644.60 01/30/2003 4,719.00 12/19/2002 (7440) 0.00 122.00 Stratasys Inc 1,118.76 01/30/2003 1,288.19 01/03/2003 (169.43) 0.00 14500 Stratasys Inc 1,329.68 01/30/2003 1,585.26 01/06/2003 (255 .58) 0.00 2'/-~ 00 Storage Technology Corp. 6,312.76 01/3012003 5,051 .87 11/07/2002 1,260.89 0.00 607 .00 Skyworks Solutions Inc 4,179.61 01/30/2003 5,068.63 11/07/2002 (889.02) 0.00 103.00 Symantec Corp. 4,75065 01/30/2003 4,738.00 01/22/2003 12.65 000 18600 CP Ships Ltd. 2,350.96 01/30/2003 2,586.89 01/03/2003 (23593) 0.00 911 .00 TiVo Inc. 4,465.15 01/30/2003 5,979.53 01/1012003 (1,514 .38) 0.00 400 Washington Post - Cl. B 2,887.51 01/3012003 3,008.40 01/0312003 (120 .89) 0.00 218.00 AT&T Wireless Corp. 1,279.62 02/04/2003 1,467.14 10/25/2002 (187 .52) 0.00 560.00 AT&T Wireless Corp. 3,287.10 02104r2003 4,396.00 11/2212002 (1,108 .90) 0.00 215.00- Borland Software Corporation 2,095.51 0210412003 2,943.39 11/21/2002 (847 .88) 000 100.00 Capitol Federal Financial 3,096.90 02/04/2003 2,794.00 12/19/2002 302.90 000 1.00 Cash in Lieu - Short Term 2.42 02/04/2003 0.00 02/0412003 242 0.00 251 .00 Comtech Telecommunications 2,523.22 02/04/2003 2,961 .95 01/22/2003 (43873) 0.00 4V, 00 Cray, Inc 2,407.54 02/04/2003 2,886.34 11/14/2002 (47880) 0.00 636.00 Cybersource Corp 1,474.98 02/04/2003 1,750.57 01/03/2003 (275 .59) 0.00 445.00 DoubleClick Inc. 2,67921 02/04/2003 3,116.65 11/07/2002 (437 .44) 0.00 72.00 Genentech 2,559.52 02/04/2003 2,851 .20 01/2212003 (291 .68) 0.00 92.00 Espeed Inc CI A 1,453.40 02/04/2003 1,572.41 1211212002 (119 .01) 0.00 61.00 Espeed Inc CI A 963.67 02/04/2003 1,051 .64 12/13/2002 (87 .97) 0.00 365.00 Foundry Networkd Inc. 2,89885 02/0412003 3,531 .01 01/10/2003 (632 .16) 0.00 367.00 Fleetwood Enterprises 1,80558 0210412003 3,057.73 12/05/2002 (1,252 .15) 0.00 65.00 Forest Laboratories Inc. 3,205.05 02104/2003 3,571 .75 01/10/2003 (366 .70) 0.00 535.00 Kulicke & Soffa Industries 2,597.02 02/0412003 3,15650 01/30/2003 (559 .48) 0.00 365.00 Mcdata Corporation-a 2,647 04 02/0412003 3,571 .20 01/1012003 (924 .16) 0.00 93.00 Mercury Interactive Corp 3,241.42 02/04/2003 3,532.71 01/10/2003 (291 .29) 000 101.00 Multimedia Games, Inc. 1,925.45 02/04/2003 2,974.45 12/0512002 (1,049 .00) 000 163.00 Neoware Systems Inc 2,340.96 02/0412003 2,827.01 01/22/2003 (48605) 0.00 39900 PC - Tel Inc. 2,693.84 02/04/2003 2,947.21 12/12/2002 (253 .37) 0.00 424.00 Pramis Pharmaceuticals Inc 1I .253~ 1q 23 01-104rNA03n 1,432.14 11105n-On-2 (178 .91) 0.00

0 40 0 0 0 0 0 41 0 0 0 0 0 0 0 0

Driehaus Capital Management Friday January 23, 2004 16:49:46 Page 10 Gains and Loss Reportfrom 11/01)2002 to 1013112003 Account. 06056519 -- RHD FOUNDATION - ALLCAP

Sale Purchase Realized Unamortized Bond 0"antit Sm city Descrintion Proceeds Date fad D_Ut Gain (- Loss Premium G Discount)

327-00 Spanish Broadcasting Sys C1 A 2,308.21 o2/o4t2ow 2,831.82 01/2212003 (523 .61) 0.00 785-00 Sun Microsystems Inc. 2,370.44 02/04/2003 2,949.29 01/22/2003 (478 .85) 0.00 168-00 Trinity Industries 2,847.51 02/04f2003 3,099.15 11/07/2002 (251 64) 0.00 94.00 Trex Corp 3,085.92 02/0412003 3,352.04 01/30/2003 (266 .12) 0.00 254-00 United Online Inc 3,510.22 02/04/2003 2,988.61 10125/2002 521 .61 0.00 103 .00 Varian Semiconductor Equipment Assoc. 2,686.15 02/04/2003 2,909.83 01/22/2003 (223 .68) 0.00 11900 Quiksilver Inc. 3,137.22 0210412003 2,893.39 10/31/2002 243 .83 000 21.00 Espeed Inc C1 A 325 .07 02/05/2003 358 .92 12/12/2002 (33 .85) 0.00 461-00 Praecis Pharmaceuticals Inc 1,369.12 02/05/2003 1,557.12 12/0512002 (188 .00) 0.00 707.00 Providian Corp 4,404.47 02/06/2003 2,997.56 1012512002 1,406.91 000 578 .00 Abitibi-Consofidated Inc. 4,110.37 02/20/2003 4,765.55 01/22/2003 (655 .18) 0.00 111.00 Analogic Corp. 4,766.19 02120/2003 5,869.68 01/1012003 (1,103 .49) 0.00 882-00 Ashanti Goldfields - Spons. GDR 5,602.37 02/20/2003 5,724.18 01/30/2003 (121 .81) 0.00 166-00 Benchmark Electronics 5,906.10 02/2012003 5,900.52 01/10/2003 5.58 0.00 212.00 Belo (A .H .) Corp. - Com. Ser. A 4,470.94 02/2012003 4,749.08 01/22/2003 (278 .14) 0.00 143.00 Borland Software Corporation 1,484.29 02120/2003 1,957.70 11121/2002 (473 .41) 0.00 66-00 Capitol Federal Financial 2,049.23 02/20/2003 1,844.04 12/19/2002 205.19 0.00 167-00 Comtech Telecommunications 1.903.74 0212012003 1,970.70 0112212003 (66.96) 0.00 272.00 Cray, Inc 2,008.95 02120/2003 1,933.70 11/1412002 75.25 0.00 426.00 Cybersource Corp 908 .58 02/2Of2OO3 1,172.55 01/03/2003 (263 .97) 0.00 298 .00 DoubleClick Inc. 1,939.80 02/20/2003 2,087.10 11/07/2002 (147 .30) 0.00 48-00 Genentech 1,668.90 0212012003 1,900.80 01/2212003 (231 .90) 000 435-00 Amdocs Ltd. ADR 5,415.75 02/20/2003 5,615.85 01130/2003 (200.10) 0.00 244.00 Entegris Inc 2,589.02 02/20/2003 2,806.20 01/03/2003 (217 .18) 0.00 72.00 Entegris Inc 763 .97 02/20/2003 815.76 01/30/2003 (51 .79) 0.00 117.00 Espeed Inc C1 A 1,375.14 02120/2003 1,999.69 12/12/2002 (624.55) 000 245-00 Foundry Networkd Inc. 2,278.43 02/20/2003 2,370.13 01/1012003 (91 .70) 0.00 24500 Fleetwood Enterprises 992 .21 02/20(2003 2,041.27 12105/2002 (1,049.06) 0.00 43-00 Forest Laboratories Inc. 2,020.07 02/20/2003 2,362.85 01/10/2003 (342.78) 0.00 217 .00 Hutchinson Tech. 4,585.07 02/20/2003 5,124.17 11/07/2002 (539.10) 0.00 168.00 Hutchinson Tech. 3,549.73 02/20/2003 4,502.40 11/22/2002 (952.67) 0.00 32-00 Hyperion Solutions Corp. 857 .66 02/20/2003 823.33 10/31/2002 34 .33 0.00 133.00 1 G E N Inc 5,248.02 02/20/2003 5,063.31 11/07/2002 184 .71 0.00 357 .00 Kulicke & Soffa industries 1,898.75 0212(Y2003 2,10630 01/30/2003 (20755) 0.00 245-00 Mcdata Corporation-a 2,021 .18 02120/2003 2,397.10 01/10/2003 (375 .92) 0.00 67-00 Multimedia Games, Inc. 1,139.15 02/20/2003 1,973.15 12/05/2002 (834.00) 0.00 1,23000 Multex com Inc 8,843.43 02/20/2003 4,705.21 12/19/2002 4,138.22 000 1 .151 .00 Netegrity Inc. 4,831 .96 02/2012003 4,649.27 02/04/2003 18269 0.00 108 .00 Neoware Systems Inc 1,388.50 02120/2003 1,873.11 01/22/2003 (484.61) 0.00 410.00 Officemax Inc 1,787.83 02120t2003 2,192.93 01/1012003 (405 .10) 0.00 1,357-00 On Technology Corp 3,871 .15 02120/2003 4,846.20 12/19/2002 (975 .05) 0.00 268-00 PC - Tel Inc. 1,822.34 02/20/2003 1,979.58 12/1212002 (157 .24) 0.00 Driehaus Capital Management Friday January 23, 2004 16:49:46 Page I I Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056519 -- RHD FOUNDATION - ALLCAP

Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

83.00 Pixar 4,39803 02120/2003 4,589.07 02/04/2003 (191 .04) 0.00 593.00 Praecis Pharmaceuticals Inc 2,164.38 0212012003 2,002.97 1210512002 161 .41 0.00 473.00 Providian Corp 2,885.21 02/2012003 2,005.44 10125/2002 879 .77 0.00 622.00 Regeneration Technologies 5,529.72 02/20/2003 5,629.10 1112912002 (9938) 000 219.00 Spanish Broadcasting Sys C1 A 1,466.51 02120/2003 1,896.54 01/22/2003 (43003) 0.00 12500 Select Comfort Corp. 1,138.10 02120/2003 1,230.82 12/05/2002 (92 .72) 0.00 97.00 Safenet Inc. 1,756.64 02/20/2003 1,870.44 10/25/2002 (113 .80) 000 98.00 Safenet Inc. 1,774.75 02120/2003 1,939.56 10/28/2002 (164 .81) 000 208.00 Silicon Laboratories Inc 5,49563 02120/2003 4,721.60 01/2212003 77403 0.00 52500 Sun Microsystems Inc. 1,740.78 02/2Ot2OO3 1,905.57 0 1/22f2003 (164 .79) 0.00 63.00 Trcx Corp 2,112.32 02/2012003 2,246.58 01/3Ot2OO3 (134 .26) 0.00 169 .00 United Online Inc 2,543.35 02120f2003 1,988.49 10/25/2002 554.86 0.00 68.00 Varian Semiconductor Equipment Assoc. 1,897.14 02/20/2003 1,921.05 01122/2003 (23 .91) 0.00 767.00 Watchguard Technologies 4,755.25 02/20/2003 5,903.06 01/10/2003 (1,147 .81) 000 690.00 Western Wireless Corp. - Cl. A 4,174.37 02/20/2003 4,952.75 11/21/2002 (778 .38) 000 931 .00 XM Satellite Radio Holdings Inc. 4,16287 02/20/2003 4,785.34 01/22/2003 (62247) 0.00 80.00 Quiksilver Inc. 1,992.51 02/2012003 1,945.14 10131/2002 4737 0.00 158 .00 Hyperion Solutions Corp. 4,196.35 0212112003 4,065.21 10131/2002 131 14 0.00 693.00 Officemax Inc 3,051 .11 02121/2003 3,706.58 01/1012003 (655 .47) 0.00 171 .00 Select Comfort Corp. 1,523.12 02/21/2003 1,683.77 12/0512002 (160.65) 0.00 12.00 Safenet Inc. 220.00 02121/2003 231 .39 10/25/2002 (11 .39) 0.00 13.00 Select Comfort Corp. 115 .95 02r24/2003 128 .01 12/05/2002 (12.06) 000 14.00 Safenet Inc. 25031 02/24/2003 269.96 10/25/2002 (19.65) 000 48.00 Select Comfort Corp. 42375 02/2612003 472.64 12/05/2002 (48.89) 0.00 145.00 Select Comfort Corp. 1,425.30 02/27/2003 1,427.76 12/05/2002 (246) 000 34.00 Safenet Inc. 559.60 02127/2003 655 .62 10/25/2002 (9602) 0.00 491 .00 Andrew Corp. 3,697.60 03/04/2003 5,300.49 11/21/2002 (1,602.89) 0.00 22600 Artisan Components Inc. 3,514.01 03/04/2003 4,935.55 1210612002 (1,421 .54) 0.00 21A.00 Covance Inc. 4,614.19 03/04/2003 4,723.75 10/31/2002 (109.56) 0.00 579 .00 Citizens Communications Co. 5,535.07 03/04/2003 5,829.26 11/15/2002 (29419) 0.00 346.00 Citizens Cornmunications Co. 3,307.66 03/04/2003 3,785.24 11/2212002 (477.58) 0.00 173.00 Digi International Inc. 523 .11 03/04/2003 598 .00 01/2212003 (7489) 0.00 206.00 Emmis Broadcasting Cl A 3,32679 03/04/2003 4,733.88 01/22/2003 (1,40709) 000 385 .00 Harvest Natural Resources 1,830.96 03/04/2003 2,402.98 02/2012003 (57202) 000 17800 Jo-ann Stores Inc-cl A 3,47486 03/04/2003 4,823.80 01122/2003 (1,34894) 000 277 .00 John B. Sanfilippo & Son 3,63927 03/04/2003 2,813.07 01/03/2003 826.20 0.00 220.00 K-Swiss Inc. - Cl. A 5,130.66 03/0V2003 5,611.01 01/30/2003 (480.35) 000 18.00 Multex .com Inc 129.77 03/04/2003 68 .86 12/19/2002 60.91 0.00 1,401.00 Novell Inc 3,290.95 03/0V2003 4,970.60 12/O6t2OO2 (1,679.65) 0.00 884.00 Register .com 4,711.57 03/04/2003 4,923.88 01/2212003 (21231) 0.00 185.00 Royal Gold Inc. 2,576.97 03/04/2003 4,789.65 01/22/2003 (2,212 .68) 0.00 2,110-1-00 Seebeyond Technology Corp 4,827.13 03/0412003 5,319.34 01/30/2003 (49221) 0.00

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Sale Purchase Realized Unamortized Bond Ouantit Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount) 277.00 Star Gas Partners Lp 5,345.93 03/04/2003 5,617.39 01/30/2003 (271.46) 0.00 798.00 Tibco Software Inc 3,518.91 03/04/2003 5,961.30 01/10/2003 (2,442.39) 0.00 720.00 Digi International Inc. 2,154.37 03/05/2003 2,488.80 0112212003 (33443) 0.00 99.00 Harvest Natural Resources 485.23 03/05/2003 617.91 02120/2003 (132.68) 0.00 35.00 Harvest Natural Resources 171.54 03/05/2003 218.40 02/21/2003 (4686) 0.00 519.00 Digi International Inc. 1,51232 03/0612003 1,794.01 01/22/2003 (281.69) 0.00 67.00 Harvest Natural Resources 315.94 03/0612003 418.08 02/21/2003 (102.14) 000 111 .00 Harvest Natural Resources 495.60 03/07/2003 692.64 02121/2003 (197.04) 0.00 100 Cash in Ueu - Short Term 21.06 03/1012003 0.00 03/10/2003 21.06 000 37.00 Harvest Nattuall Resources 177.03 03/10/2003 230.88 02/21/2003 (53.85) 000 807.00 Ams Group, Inc. 3,135.79 03/19/2003 4,503.06 0212012003 (1,367.27) 0.00 196.00 Avocent Corporation 4,929.25 03/19/2003 4,645.20 01/2212003 284.05 0.00 50-4.00 Biolase Tech Inc 4,110.40 03/19/2003 3,437.63 02/20/2003 672.77 0.00 111.00 Biolase Tech Inc 905.27 03/19/2003 810.30 02/21/2003 94.97 0.00 5400 Biolase Tech Inc "0 40 03/19/2003 393.57 02/2412003 46.83 0.00 543.00 Chesapeake Energy Corp. 3,970.88 03/19/2003 4,512.33 03/04/2003 (541.45) 0.00 202.00 Cabot Oil & Gas Corp. - Cl. A 4,795.19 03/19/2003 4,951 .32 12/0512002 (156.13) 0.00 354.00 Gold Fields Ltd. - Spons. ADR 3,689.27 03/19/2003 5,111 .76 12/12/2002 (1,422.49) 0.00 360.00 Group I Software Inc. 5,573.31 03119/2003 4,968.00 11/21/2002 60531 0.00 153.00 Hams Corp. 4,238.09 03/19/2003 4,727.70 01/22/2003 (489.61) 000 598.00 Inet Technologies Inc 3,678.48 03/19/2003 4,776.17 02104/2003 (1,09769) 0.00 667.00 Kinross Gold Corp 3,921.83 03/19/2003 4,638.48 12119/2002 (716.65) 0.00 809.00 Royal Ptt Nederland Adr 5,080.36 03/19/2003 5.727.72 01/30/2003 (647.36) 0.00 464.00 Moore Corp. Ud. 4,918.25 03/19/2003 5,628.32 01/3012003 (710.07) 0.00 24000 0 S I Systems Inc 3,864.43 03/19/2003 4,618.49 02/0412003 (754.06) 0.00 171 .00 Standard Pacific Corp. 4,362.07 03/19/2003 4,522.51 02/2Of2OO3 (160 ") 000 89.00 AT&T Corp. 1,49604 03/19/2003 2,114.04 09/05/2002 (618.00) 0.00 113.00 Trinity Industries 1,927.72 03/19/2003 2,084.54 11/07/2002 (15682) 0.00 158.00 Trinity Industries 2,695.40 03/19/2003 2,635." 02/20/2003 59.96 000 661-00 Vital Images Inc 6,964.21 03/19/2003 5,264.53 11/07/2002 1,699.68 0.00 96-00 Devon Energy Corporation 4.530.52 03/24/2003 4,499.52 02120/2003 31.00 000 62.00 Mercury Interactive Corp 1,972.37 03124/2003 2,355.14 0111012003 (382.77) 0.00 64.00 Mercury Interactive Corp 2,036.00 03/24/2003 2,266.24 02120/2003 (230.24) 0.00 533.00 WebMethods Inc. 4,818.19 03/24/2003 5,859.06 01/10/2003 (1,040.87) 0.00 1,969.00 Anba Inc 5,87023 03/25/2003 5,72336 01/30/2003 146.87 0.00 229.00 Avid Technology Inc. 5,175.22 03/2512003 3,199.52 10131/2002 1,975.70 0.00 178.00 Avid Technology Inc. 4,022.66 03/25/2003 3,399.80 11/2212002 622.86 0.00 311 .00 BMC Software Inc 4,944.77 03/25/2003 5,619.77 01/30/2003 (675.00) 000 144-00 Canadian Natural Resources 4,688.52 03/2512003 4,615.57 02/04/2003 72.95 000 105.00 Carlisle Cos. Inc. 4,316 " 03/2512003 4,521.72 02120/2003 (205.28) 0.00 21 .00 Citizens Communications Co. 209.99 03/2512003 211.42 11/15/2002 (1 .43) 0.00 114.00 Downey Financial Corp. 4,466.40 03/25/2003 4,585.08 12/19/2002 (118.68) 0.00 Driehaus Capital Management Friday January 23, 2004 16:49:46 Page 13 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056519 -- RHD FOUNDATION - ALLCAP

Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount

146.00 Encana Corp 4,651.03 03/25/2003 4,604.72 02104/2003 46 .31 0.00 280-00 Enerplus; Resources Fund 5,196.66 03/25/2003 4,860.80 12/12/2002 335 .86 0.00 226 .00 Fresh Del Monte Produce 3,595.56 03/2512003 4,59273 02104/2003 (997 .17) 0.00 833 .00 Hams Interactive, Inc. 3,898.33 03M/2003 2,896.73 01/03/2003 1,001.60 0.00 245 .00 Irwin Financial Corp 4,801.87 03/25/2003 4,505.11 02/20/2003 296.76 000 525 .00 Infospace corn 5,131.05 03/25/2003 4,78952 11/1412002 341 .53 000 294 .00 Innovex Inc. 1,722.35 03/25/2003 1,808.10 01/30/2003 (85 .75) 0.00 611 .00 Innovex Inc. 3,579.45 03/25/2003 3,881.26 01/31/2003 (301 .81) 000 2,255.00 KCS Energy Inc. 5,431.01 0312512003 6,026.40 01/30/2003 (595 .39) 0.00 53600 Legato Systems Inc 2,686.31 03/25/2003 2,839.51 01/03/2003 (153 .20) 0.00 157.00 Legato Systems Inc 786.85 03/25/2003 817.97 01/30/2003 (31 .12) 0.00 459.00 Macromedia Inc. 5,547.69 03/25/2003 6,009.87 01/10/2003 (462 .18) 0.00 147.00 Mercury Computer System 4,222.29 03/25/2003 4,583.46 12/1912002 (361 .17) 000 116-00 Nabors Industries Ltd 4,368.73 03/25/2003 4,477.60 02120/2003 (108 .87) 0.00 20600 National Oilwell Inc 4,463.90 03/25/2003 4,482.83 02/20/2003 (18 .93) 0.00 218 .00 Ocean Energy Inc. 4,229.09 03/25/2003 4,481.67 03104/2003 (252 .58) 000 662 .00 OM I Corp . - New 3,007.40 03/2512003 2,8U 68 01/03/2003 162.72 0.00 159.00 OMI Corp . - New 722.32 03125/2003 747.30 01/3012003 (24 .98) 0.00 216 .00 Pluladelphia Suburban Corp. 4,588.82 03/2512003 4,456.08 03/04/2003 132.74 0.00 287 .00 San Juan Basin Royalty Tr. 4,141.67 03/25/2003 4,500.22 03/04/2003 (35855) 0.00 176-00 St Mary Land & Explora 4.309.18 03/25/2003 4,521.44 02/2012003 (212 .26) 0.00 226 .00 Tom Brown Inc 5,302.57 03/25/2003 5,573.16 OW012003 (270.59) 0.00 101.00 Tecumseh Products Co. - Cl. A 4,351.98 03/25/2003 4,509.65 02120/2003 (157 .67) 0.00 146-00 Talisman Energy Inc 5,578.96 03/25/2003 5,583.04 OWO/2003 (4.08) 0.00 412-00 Vintage Petroleum Inc. 3,728.50 03/2512003 4,584.37 02/0412003 (855 .87) 0.00 232 .00 Wallace Computer Svcs . Inc. 5,883.37 03/25/2003 4,714.94 12119/2002 1,16843 0.00 644 .00 Xerox Corp. 5,57045 03/25/2003 4,875.08 11/1412002 69537 0.00 1.00 Cash in Ueu - Short Term 27.07 03128/2003 000 03/28/2003 27.07 0.00 119-00 Bio-rad Laboratories-cl A 4,462.29 04/02/2003 4,498.68 02/20/2003 (36 .39) 0.00 13400 Central Garden & Pet Co. 3,022.70 04/02/2003 2,417.36 10/04/2002 605.34 0.00 209 .00 Cognex Corp. 4,531.00 04102/2003 4,587.55 02/04/2003 (56 .55) 0.00 1.00 Cash in lieu - Short Term 27.68 04/02/2003 0.00 04/0212003 27.68 0.00 169-00 Echostar Communications - A 4,981.88 04/02/2003 4,475.12 0212012003 50676 0.00 513 .00 Juniper Networks Inc. 4,365.52 04/02/2003 4,765.56 0 1122t2003 (400 .04) 0.00 41600 MTS Systems Corp . 4,696.41 04/02/2003 4,711 .87 02/04/2003 (15 .46) O.W 103 .00 Murphy Oil Corp. 4,544.93 04/0212003 4,456.81 03/04/2003 88.12 0.00 136 .00 Marvel Enterprises Inc. 1,867.34 04/0212003 1.135.60 10/3112002 73174 0.00 534.00 Marvel Enterprises Inc. 7,33206 04/0212003 4,998.24 11/22/2002 2,333.82 0.00 134 .00 Novastar Fin) Inc 4,669.05 04102/2003 4,583.63 02104/2003 8542 0.00 118 .00 Pogo Producing Co. 4,730.85 04/0212003 4,489.85 02120/2003 241 .00 0.00 226.00 Tractor Supply Co 7,869.27 04/02/2003 6,621.61 05/24/2002 1,247.66 000 150-00 Vimpel Commun SP ADR 5,334.96 04/02.1200-3 5,168.25 11121/2002 166.71 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceed Date Cost Date Gain (- Loss) Premium if- Discount)

37-00 Central Garden & Pet Co. 84058 04/03/2003 667 .48 1010412002 173 .10 0.00 100 .00 Central Garden & Pet Co. 2,267.91 04/04/2003 1,804.00 10/0412002 463 .91 000 704.00 Allen Telecom Inc. 7.120.55 04/0912003 5,07521 11/07/2002 2,045 34 0.00 72.00 Apache Corp. 4,211.80 04/08/2003 4,469.13 02/2012003 (257.33) 0.00 286.00 American Pharmaceutical Part 5,484.10 04/0812003 4,970.54 09/2612002 513 .56 0.00 690.00 Ask Jeeves Inc 5,98001 04/08/2003 1,778.60 12/19/2002 4,201.41 0.00 322.00 Brightpoint Inc. 4,720.29 04/08/2003 1,80964 11/2112002 2,910.65 0.00 185.00 Developers Diversified Realty Corp. 4,519.33 0410&'2003 4,495.50 03/25/2003 23 .83 0.00 257.00 Energy Partners Ltd 2,61497 04/08/2003 2,829.06 02/0412003 (21409) 0.00 110-00 Evergreen Resources Inc. 4,922.49 04/08/2003 4,886.20 12105/2002 36.29 000 452.00 Frontline Ltd 5.118.88 04/0812003 4,791.20 01/2212003 327 .68 0.00 425 .00 Marvel Enterprises Inc. 5,852.61 04/08/2003 3,548.75 10/31/2002 2,303.86 0.00 382.00 NBTY Inc. 6,914.33 04/08/2003 6,226.56 06107/2002 687.77 0.00 246.00 ONEOK Inc. 4,499.12 04/08/2003 4,517.30 03125/2003 (1818) 0.00 864-00 Orbital Sciences Corp 4,337.07 04/08/2003 4,674.24 02/04f2003 (337 .17) 0.00 179.00 Occidental Petroleum Corp. 5,432.39 04/08/2003 5,477.40 03/19/2003 (45 .01) 0.00 117.00 Penn Virginia Corp . 4,397.52 04/08/2003 4,117.02 08129/2002 280.50 000 33.00 Penn Virginia Corp . 1,240.32 04108/2003 1,085.37 10/ 1 &'2002 15495 0.00 241 .00 Rerrungton Oil & Gas Corp. 4,015.47 04/0a/2003 4,599.27 02/04t2OO3 (583 .80) 0.00 136.00 Rouse Company 4.67682 04/08/2003 4,493.44 03/04/2003 183 .38 0.00 228.00 Roslyn Bancorp 4,078.72 04/08/2003 4,514.38 02120/2003 (435 .66) 0.00 112-00 JM Smucker Coffbe-New Common 4,046.22 04/08/2003 4,707.36 01122/2003 (661 .14) 0.00 510-00 Southwestern Energy Company 6,480.01 04/08/2003 5,952.11 01/10/2003 527.90 0.00 275 .00 Sybron Dental Specialties 4,876.73 04/08/2003 4,584.25 02/04/2003 292.48 0.00 113 .00 Teekay Shipping Co 4,281.37 04108/2003 4,681.67 12/1912002 (400 .30) 000 224-00 Westport Resources Corp 4,30357 04/08/2003 4,515.84 02120/2003 (212 .27) 000 164-00 Energy Partners Ud 1,666.16 04/0912003 1,805.31 02/0412003 (139 .15) 0.00 138-00 Adobe Systems Inc. 4,669.52 04/15/2003 4,448.69 03/19/2003 220.83 0.00 31.00 Adobe Systems Inc. 1,048.95 04/15/2003 1,048.21 03/20/2003 0.74 0.00 2,14600 ADC Telecommunications Inc. 4,693.52 04/15/2003 6,103.35 01/10/2003 (1 .40983) 0.00 312.00 Advanced Fibre Communication 4,523.78 04/15/2003 5,906.16 01/1012003 (1,382 .38) 000 1.031.00 Align Technology Inc 6,773.34 04/15/2003 4,816.10 0212012003 1,957.24 0.00 521-00 AT&T Wireless Corp . 3,381.12 04/1512003 3,50633 10125/2002 (125 .21) 0.00 163-00 AT&T Wireless Corp . 1,057.82 04/15/2003 1,157.30 0410212003 (99 .48) 0.00 40200 Computer Associates Intl . Inc. 5,692.05 04/1512003 5,016.96 10118/2002 675 .09 0.00 731 .00 Ciena Corporation 3,044.28 04/15/2003 4,700.33 01/22/2003 (1,65605) 0.00 296.00 Ciena Corporation 1,232.71 04/15/2003 1,385.28 04/02/2003 (152 .57) 000 1,364-00 Concur Technologies Inc. 7,147.01 04/15/2003 5,035.89 11/22/2002 2,111.12 000 388-00 Cytyc Corporation 5,010.90 04/15/2003 4,604.59 02/0412003 40631 0.00 326-00 F5 Networks, Inc. 4,347.72 04/15/2003 4,603.12 02/20/2003 (255 .40) 0.00 222.00 Hutchinson Tech . 5,404.13 04/1512003 5,341.43 03/19/2003 62.70 0.00 107-00 Kinder Morgan Inc 4,774.11 04/15/2003 4,77862 01122/2003 (4.51) 0.00 Dfiehaus Capital Management Friday Janua?y 23, 2004 16:49:46 Page 15 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056519 -- RHD FOUNDATION- ALLCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Descriotion Proceeds Date Cost Date Gain (- Loss) Premium Discount) 47600 liberty Financial Companies 4,735.97 04/1512003 4,79975 01/22/2003 (63 .78) 0.00 366 00 M Intl 4,096.47 04/15/2003 4,965.40 12/05/2002 (868.93) 000 178.00 Microsoft Corp. 4,337.65 04/1512003 4,992.90 11/07/2002 (655.25) 000 844.00 Micromuse, Inc. 4,388.59 04/15/2003 4,945.84 01/2212003 (557 .25) 0.00 1,126.00 Maxtor Group 5,877.43 04/15/2003 4,88921 11/14/2002 98822 0.00 18000 Mylan Laboratories 4,881 .37 04115/2003 4,72080 01/22/2003 160.57 0.00 215 .00 National Fuel Gas Co. 4,76095 04/15/2003 4,555.46 03/19/2003 205 .49 0.00 116.00 Qualcomm, Inc. 3,813.08 04/15/2003 4,50080 03/25/2003 (687 .72) 0.00 614.00 Radware Ltd 7,107.32 04/15/2003 6,047.47 01/1012003 1,059.85 0.00 352 .00 Rarnbus, Inc. 5,169.26 04/15/2003 5,59673 04108/2003 (427.47) 0.00 231 .00 Staples Inc. 4,405.28 04/15/2003 4,460.61 03/25/2003 (55.33) 0.00 249 .00 Texas Instruments Inc. 4,245.25 04/15/2003 4,486.98 03125/2003 (241 .73) 000 352 .00 Verity Inc 5,402.94 04115/2003 4,917.30 12119/2002 485 .64 0.00 125.00 Boston Scientific Corp 5,261 .91 04/2212003 4,637.50 10/1012002 624 .41 0.00 584 .00 Brightpoint Inc. 8,422.75 04/22/2003 3,282.08 11/21/2002 5,140.67 0.00 225 .00 Digene Corporation 4,318.22 04/22/2003 3,67864 02120/2003 639 .58 0.00 14200 Gtech Holdings Corp. 4,762.45 04/22/2003 4,524-12 03/19/2003 238 .33 000 66.00 Intl Game Technology 5,569.32 04/22t2003 5,466.71 03119/2003 102 .61 000 796 .00 Osteotech Inc. 6,471 .17 0412212003 5,722.52 04/1512003 748 .65 0.00 91.00 Reebok International lid. 2,927.33 04/22/2003 2,773.26 01/03/2003 154.07 0.00 30.00 Reebok International Ltd. 965.05 04/22/2003 896.70 01130/2003 68 .35 000 130.00 Viacom Inc. - Cl. A 5,606.86 04/22/2003 5,151.59 09/05/2002 455 .27 0.00 91.00- Zimmer Holdings Inc. 4,190.84 04/2212003 4,453.54 03/25/2003 (262 .70) 0.00 32.00 Digene Corporation 615.16 04/2312003 523 .18 02120/2003 91 .98 0.00 19.00 Digene Corporation 360.41 04/24/2003 310.64 02/20/2003 49 .77 000 140.00 Arch Capital Group Lid 5,015.46 05/0612003 4,487.00 031OU2003 528 .46 0.00 127.00 Amerada Hess Corp . 5,802.67 05106(2003 5,624.83 04108/2003 177 .84 0.00 1,041.00 Ask Jeeves Inc 9,928.69 05/0612003 2,683.36 12/19/2002 7,245.33 0.00 19600 Black Hills Corp. 5,617.07 05/0612003 5,685-96 04/08/2003 (68 .89) 000 79.00 Barr Laboratories Inc. 4,289.49 05/06/2003 4,580.59 04/02/2003 (291 10) 0.00 67.00 Bear Steams Companies Inc. 4,602.68 0510612003 4,476.94 03/25/2003 125 .74 000 95.00 Cox Communications Inc. - Cl. A 2,927.36 05/0612003 2,779.70 01/0312003 147 .66 0.00 62.00 Cox Communications Inc. - Cl. A 1,910.49 05/0612003 1,794.90 03/04/2003 115 .59 0.00 291 .00 Cablevision Systems - Cl. A 6,261.18 05A)6(2003 5,531.91 03/1912003 729 .27 0.00 1,40000 Quantum Corp-DLT & Storage 5,129.42 05/0612003 4,77245 02/04/2003 356 .97 000 112.00 Enbridge Energy Partners LP 5,011.76 05/06/2003 4,743.20 01/2212003 268 .56 0.00 114.00 Entergy Corp. 5,493.40 0510612003 5,475.42 03/19/2003 17.98 0.00 233 .00 Flagstar Bancorp Inc 8,250.44 05/0612003 4,648.35 12119/2002 3,602.09 0.00 352 .00 Finish Line - Cl. A 5,881 .25 05/0612003 5,635.52 04/0a/2003 245 .73 0.00 123.00 Fidelity National Finl. Inc. 4,345.94 05/0612003 3,634-65 0713=002 711 .29 0.00 164 .00 Fidelity National Firil. Inc. 5,794.58 05/0612003 4,937.09 12/0612002 857 .49 0.00 15200 Federal Realty Invs. Trust 4.766 .63 05/0612003 4,479.44 03/04/2003 287 .19 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

271 .00 Fronuer Oil Corp. 4,289.72 05/06/2003 4,552.80 03/04/2003 (263.08) 0.00 247 .00 Glimcher Realty Trust 5,221.85 05/06/2003 4,523.80 02/20t2003 698 .05 0.00 63.00 Goldman Sachs Group Inc 4,873.01 05/06t2003 4,438.98 03125/2003 43403 000 279-00 Hollywood Entertainment Corp . 5,05359 05/06t2003 4,477.95 03/25/2003 57564 0.00 132-00 Kimco Realty Corp. 4,918.71 05/06t2003 4,476.12 03/04/2003 442 .59 0.00 1,76900 Looksmart Ltd 3,60651 05/06t2003 4,827.79 12/19/2002 (1,221 .28) 0.00 149 .00 Lubnzol Corp. 4,678.44 05/06t2003 4,491 .98 03/25/2003 186.46 0.00 199-00 MDU Resources Group Inc. 5,890.12 05/06t2003 5,45005 03/19/2003 440.07 000 167 .00 Medlmmune Inc. 5,955.41 05/06(2003 5,678.00 04/15/2003 277 .41 0.00 741 .00 McMoran Exploration Co. 9,07682 05/06/2003 5,668.65 01130/2003 3,408.17 000 194 .00 Marathon Oil Corp 4,543.26 05/06t2003 4,48012 03104/2003 63 .14 0.00 109 .00 Morgan Stanley Dean Wttr 4,982.15 05/06/2003 4,418.21 03125/2003 563 .94 0.00 367.00 Netease .corn Inc. ADR 9,008.76 05/06/2003 2,598.54 11/14/2002 6,410.22 0.00 223.00 New Plan Excel Realty Trust Inc. 4,600.27 05/06/2003 4,515.08 03/25/2003 85 .19 0.00 68500 Nextel Communications Inc. - A 9,947.44 05/0612003 4,507.09 07/23/2002 5,440.35 0.00 493.00 Pinnacle Systems Inc 4,491 .01 05/06t2OO3 5,71880 04/0812003 (1,227 .79) 0.00 182-00 Premcor Inc 3,923.60 05/06t2OO3 4,540.90 03/0412003 (617.30) 000 51-00 Procter & Gamble Co. 4,579.07 05/06/2003 4,498.75 03125/2003 80.32 0.00 213.00 Puget Energy Inc. 4,491 .95 05/06/2003 4,504.95 03125/2003 (13 .00) 0.00 172-00 Starbucks Corp. 4,124.36 05/06/2003 4,465.12 03125/2003 (340 .76) 0.00 206-00 Stewart Inforniation Svcs 5,308.31 05/0612003 4,650.16 02104/2003 658 .15 000 210-00 UGI Corp . 6,617.14 05/06t2OO3 5,576.20 01/3012003 1,040.94 0.00 261 .00 United Online Inc 5,390.04 05/06/2003 4,488.50 0312512003 901 .54 0.00 113-00 Valero Energy Corp . 4,047.47 05/06/2003 4,531 .30 03/04/2003 (483 .83) 0.00 229.00 MEMC Electronic Materials 2,877.77 05/0612003 2,514.81 03/1912003 362 .96 0.00 80-00 MEMC Electronic Materials 1,005.34 05/O6t2OO3 896 .78 03/2012003 108 .56 000 63-00 MEMC Electronic Materials 791 .70 05/06/2003 705 .05 03/2112003 86.65 0.00 61-00 MEMC Electronic Materials 766.57 05/0612003 679.48 03/24/2003 87 .09 0.00 39-00 MEMC Electronic Materials 49010 05/0612003 429.71 03/2512003 60.39 0.00 6.00 MEMC Electronic Materials 75.40 05/06/2003 66.16 03/27/2003 9.24 0.00 4.00 MEMC Electronic Materials 50.27 05/06/2003 43.97 03/28/2003 6.30 0.00 15-00 MEMC Electronic Materials 188 .50 05/0612003 165 .90 04/01/2003 22 .60 0.00 176-00 Washington Gas light Co. 4.631 .77 05/06/2003 4,566.44 02104/2003 65 .33 0.00 1.447.00 Westel Technologies Inc. - A 6,610.29 05/06/2003 4,626.02 02/20/2003 1,98427 0.00 274.00 Yahoo I Inc. 6,906.94 05/0612003 5,063.52 11/21/2002 1,843.42 000 59.00 Ask Jeeves Inc 594.65 05/13/2003 152 .08 12/19/2002 442 .57 0.00 217.00 Claire's Stores Inc. 6,088.51 05/13/2003 5,66018 04/15/2003 428 .33 0.00 44600 Callaway Golf Company 6,40630 05/13/2003 5,659.74 04/15/2003 74656 000 330-00 Endo Pharmaceut HIdgs Inc 5,121.35 05/1312003 4,704.41 04102/2003 416 .94 000 474.00 Ford Motor Company 4,730.29 05/13/2003 4,934.34 0412212003 (204.05) 0.00 59-00 Fidelity National Rnl. Inc. 2,110.33 05/13/2003 1,743.45 07130/2002 366 .88 000 346 .00 Gap Inc. 6,072.01 05/13/2003 5,743.60 04/15/2003 328 .41 0.00 Driehaus Capital Management Friday January 23, 2004 16:49:46 Page 17 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056519 -- RHD FOUNDATION - ALLCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount) 332.00 Hain Celestial Group Inc. 5,348.39 05/13/2003 5,709.84 04/15/2003 (361 .45) 0.00 5000 Nextel Communications Inc. - A 684.10 05/13/2003 32899 07/23/2002 355.11 0.00 116.00 Pan Pacific Retail Prop. 4,606.75 05/13/2003 4,47064 03/25/2003 136.11 0.00 151.00 Tractor Supply Co 6,773.54 05/13/2003 5,578.94 04/0912003 1,194-60 0.00 60300 Tesoro Petroleum Corp. 4,401 .69 05/13/2003 4,690.80 04102/2003 (289.11) 0.00 15000 Toro Co. 5,565.72 05/1312003 4,918-50 12/1212002 647.22 000 358.00 Quiksilver Inc. 6,200.26 05/13/2003 5,45359 03/19/2003 74667 000 1.00 Cash in Ueu - Short Term 27.72 05/14/2003 0.00 05/14/2003 27-72 0.00 1400 Boston Communications Gr 210.50 05/2012003 277.90 0412212003 (67.40) 0.00 13300 Briggs & Stratton 6,00423 05/20(2003 5,220-58 09/05/2002 783-65 0.00 143.00 Energen Corp. 4,588.84 05/20/2003 4,618.90 04102/2003 (30.06) 000 101.00 Greenpoint Financial Corp 4,832.31 05/2012003 4,850-02 04122/2003 (17.71) 000 139.00 Hunt (JB) Transport Svcs Inc 4,496.43 05/2012003 4,826.08 04/2212003 (329.65) 0.00 85.00 Nike Inc. - Cl. B 4,412.99 05/20/2003 4,469.30 03/25/2003 (56.31) 0.00 265.00 Pacific Sunwear Cal 5,392.49 05/20/2003 5,405.10 03/19/2003 (12.61) 0.00 1,300.00 Telesp Celular Participacoes; - ADR 4,531 .07 05/20/2003 4,795.15 04102/2003 (264.08) 0.00 8-'-..00 UTI Worldwide Inc. 2,231.14 0512012003 2,409-75 03/25/2003 (178.61) 000 74.00 UTI Worldwide Inc. 1,942.41 05/2012003 2,083.23 03/26/2003 (140.82) 0.00 267.00 Wolverine World Wide 4,585.59 05/2012003 4,789.98 04/2212003 (204.39) 0.00 230.00 Boston Communications Gr 3,530.33 05/21/2003 4,565.50 0412212003 (1,035.17) 000 1.00 Cash in Lieu - Short Tenn 31 .50 0512712003 0.00 05/27/2003 31-50 000 101.00 Apollo Group Inc. - Cl. A 5,685.02 05/28/2003 4,486.42 02/2012003 1,198.60 0.00 165.00 1 T T Educational Svcs 4,536.46 05/28/2003 4,586.72 02/04/2003 (5026) 0.00 762.00 Gevity Hr Inc 8,194.23 05/28/2003 5,745.48 04/08/2003 2,448-75 0.00 179.00 IPC Holdings Ltd. ADR 5,656.51 05/28/2003 5,699.25 04/15/2003 (42.74) 0.00 228.00 Nova Chemicals Corp 4,443.44 05/28/2003 5,089-92 05/06/2003 (646.48) 0.00 217.00 Photon Dynamics Inc 5,316.25 05/28/2003 5,140.19 05/06/2003 176.06 000 132.00 Renaissancere Holdings Ltd ADR 5,671 .77 05128/2003 5,680.79 04/15/2003 (9-02) 000 334.00 Rofin-sinar Tech 4,866.15 05/2812003 5,32824 05/13/2003 (462.09) 0.00 Rx).00 Rayonier Inc. 5,130.15 05/28/2003 4,605.00 04/0212003 525.15 0.00 175.00 Sina Corp 2,640.45 05/28/2003 976.50 12/05/2002 1,663.95 000 264.00 Sina Corp 3,983.30 05/28/2003 1,401.97 12/09/2002 2,581-33 000 215.00 Western Digital Corp. 2,550.81 05/28/2003 1,317.95 10/25f2OO2 1,23286 0.00 463.00 Western Digital Corp. 5,493.14 05/2812003 3,75030 11/2212002 1,74284 000 9.00 Sina Corp 137.71 05129/2003 47.79 12/09/2002 89.92 0.00 65.00 CBL & Associates Properties 2,889.11 06/1012003 2,68320 03/25/2003 20591 000 58.00 Career Education Corp. 3,526.81 06/1012003 2,721.94 02104/2003 804.87 000 79.00 C.H Robinson Worldwide Inc. 2,798.83 06f 10/2003 2,697.06 03/2512003 101.77 000 76.00 Connthian Colleges Inc 3,500.39 06/1012003 2,687.36 02/2012003 813-03 000 77.00 Chelsea Property Group Inc. 3,305.10 06110/2003 2,687.30 02/2012003 617.80 000 89 00 Cost Plus IncJCalifomia 3,116.63 06tlO/2003 3,049-29 05/13/2003 6734 0.00 95.00 Echostar Communications - A 3,113.95 06110/2003 3,032.40 05/1312003 81.55 000

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Sale Purchase Realized Unarnortized Bond Ouantity Security Descriotion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

181.00 Eglinc 2,740.21 06110/2003 3,07427 05/0612003 (33406) 0.00 65.00 Education Mgmt Corp 3,138.70 06110/2003 2,662.40 03/25/2003 476.30 0.00 137.00 First American Fird. Corp. 3,574.06 06110/2003 2,960.15 08129/2002 613.91 0.00 279.00 Uberty Financial Companies 3,16371 06/10/2003 3,07458 05/0612003 89 .13 0.00 87.00 Mercury General Corp 3,973,94 06110/2003 3,381.69 04/15/2003 592.25 0.00 4500 Progressive Corp. 3,147.88 0611012003 2,652.75 03/25/2003 495.13 0.00 12000 Ryder System Inc. 3,162.55 0611012003 3,043.20 05/0612003 119 .35 0.00 399 .00 Sify Ltd - ADR 1,72359 06/10/2003 3,132 15 05/06/2003 (1,408 .56) 000 77.00 Simon Property Group Inc. 3,03151 06/10/2003 2,670.36 03/04/2003 361 .15 0.00 74.00 Sunocc, Inc. 2,745.27 06110/2003 2,680.61 03/04/2003 64.66 0.00 574 .00 Advanced Micro Devices 3,748.04 06117/2003 4,901.96 OV22/2003 (1,153 .92) 0.00 44.00 CBL & Associates Properties 1,936.34 06/1712003 1,816.32 03/25/2003 120 .02 0.00 53.00 C H Robinson Worldwide Inc. 1,843.25 06/17/2003 1,809.42 03/25/2003 33 .83 0.00 1.00 Cash in Ueu - Short Term 15.85 06117/2003 0.00 06117/2003 15.85 0.00 296 .00 Cleco Corporation 5,10-4.00 06(17/2003 5,412.89 05128/2003 (308 .89) 0.00 52.00 Chelsea Property Group Inc. 2,173.49 06/17/2003 1,814.80 02/2012003 358.69 0.00 60.00 Cost Plus IncJCalifornia 2,050.80 06117/2003 2,055.70 05/13/2003 (4.90) 0.00 240 .00 Cree Inc. 4,526.18 06117/2003 5,625.77 04/08/2003 (1,09959) 0.00 232 .00 Corrections Corp of America 5,431.90 06/17/2003 5,127.20 05/06/2003 304.70 0.00 65.00 Echostar Conummications - A 2,304.79 06/1712003 2,074.80 05/13/2003 229.99 0.00 123 .00 Egllnc 1,944.53 06117/2003 2,089.14 05/06/2003 (144 .61) 0.00 1,544.00 Enterasys Network Inc 5,574.50 06/17/2003 5,151.46 05120/2003 423.04 0.00 53.00 First American Fird. Corp . 1,407.08 06117/2003 1,145.17 08/29/2002 261 .91 0.00 40.00 First American Finl. Corp . 1,061 .95 06/17/2003 853 .20 10/ 1 8f2002 208.75 0.00 292 .00 Granite Construction Inc 5,419.64 06117/2003 5,041.18 05/20/2003 378.46 000 405.00 Juniper Networks Inc. 5,305.49 06/17/2003 5,029.70 05/06/2003 275.79 0.00 5.00 Juniper Networks Inc. 65.50 06/1712003 60.85 05107/2003 465 0.00 190.00 Uberty, Financial Companies 2,251 .39 06117/2003 2,093.80 05/0612003 157 .59 0.00 207 .00 Lone Star Technologies Inc 4,697.88 06(17/2003 4,601.65 04/02/2003 96.23 000 2,093.00 LAicent Technologies 4,327.98 0611712003 4,967.48 05/20/2003 (639 .50) 0.00 145.00 Macerich Company (The) 5,106.66 06/17/2003 4,476.15 02/20(2003 630.51 000 58.00 Mercury General Corp 2,694.55 06117/2003 2,254.46 04/15/2003 440.09 000 945.00 McDermott Intl . Inc. 5,429.33 06tl7/2003 5,178.60 05/13/2003 250.73 0.00 258 .00 Marvel Enterprises Inc. 5,778.92 06117/2003 5,103.24 05/1312003 675 .68 0.00 2,255.00 Nortel Networks Corp 6,728.26 06/17/2003 5,73091 01/30/2003 99735 000 133 .00 Network Equipment Tech Inc 1,07597 06117/2003 745 .31 01/22/2003 330.66 0.00 696.00 Network Equipment Tech Inc 5,63065 06/17/2003 4,071.60 01/23/2003 1,559.05 0.00 142 .00 Open Text Corp 4,506.15 06/1712003 4,843.62 04/22/2003 (337 .47) 0.00 106 .00 Omnivision Technologies 3,204.41 06117/2003 2,970.08 05/06/2003 23433 0.00 122 .00 Public Service Enterprise Group 5,294.55 06/17/2003 4,454.22 03/25/2003 840.33 0.00 31 .00 Progressive Corp. 2,354.95 06117/2003 1,827.45 03/25/2003 527 .50 000 1,319.00 Praccis Pharmaceuticals Inc 6,674.35 06(17/2003 5,769.01 04/0812003 905.34 0.00 Driehaus Capital Management Friday January 23, 2004 16:49:46 Page 19 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056519 -- RHD FOUNDATION - ALLCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

81.00 Ryder System Inc. 2,147.64 0611712003 2,054.16 05/0612003 93.48 0.00 270.00 Sify Ltd - ADR 1,60372 06117/2003 2,119.50 05/0612003 (515 .78) 000 51.00 Simon Property Group Inc. 1,978.70 06117/2003 1,768.68 03/04/2003 21002 0.00 5000 Sunoco Inc. 1,901 .91 06/17/2003 1,811.22 03/04/2003 90 .69 0.00 572.00 Meridian Bioscience Inc. 5,725.33 06117/2003 4,549.23 03125/2003 1,176.10 0.00 77.00 Omnivision Technologies 2,370.72 06118/2003 2,157.51 05/0612003 213 .21 0.00 41000 Adolor Corporation 4,702.02 0612412003 5,678.46 04/08/2003 (976.44) 0.00 574.00 Alcatel SA Spons ADR 4,976.34 06124/2003 5,140-46 05/06/2003 (16412) 0.00 853.00 American Tower Corp. - Cl. A 6,994.26 06/24/2003 5,783.34 04/15/2003 1,21092 000 78.00 Bank of America Corp 6,047.83 0612412003 5,679.96 04/15/2003 367 .87 000 806.00 The Bombay Company Inc. 7,575.64 06124/2003 5,770.96 04/15/2003 1,80468 0.00 72.00 Bear Steams Companies Inc. 5,413.42 06/24t2003 5,945.04 0611712003 (531 .62) 0.00 101.00 Countrywide Financial Corp 6,967.66 0612412003 5,601 .46 01/30/2003 1,36620 0.00 516.00 Candela Corp. 5,505.55 06124/2003 4,602.72 02/04/2003 902.83 000 265.00 Cohu Inc. 3,968.05 06f24/2003 5,073.21 05/06/2003 (1,105 .16) 0.00 417.00 Citrix Systems Inc. 8,255.08 0612412003 5,900.55 01/10/2003 2,354.53 0.00 183 .00 Cousins Properties Inc. 4,880.38 06/2412003 4,496.58 02/2012003 383.80 0.00 428.00 Citizens Communications Co. 5,510.33 06/2412003 5,140.28 05/13/2003 370.05 0.00 263.00 Documenturn Inc. 5,318.18 06124/2003 5.081 .76 05/06/2003 236.42 0.00 131 .00 Deluxe Corporation 5,927.84 OWM003 5,689.33 04115/2003 238.51 000 77.00 Genentech 5,442.87 06124/2003 5,879.50 06117/2003 (436.63) 0.00 8900 Exelon Corporation 5,265.88 06124/2003 4,465.13 03/25/2003 800 .75 0.00 474.00 Foundry Networkil Inc. 6,676.68 06/24/2003 4,886.94 04/2212003 1,789.74 0.00 149 .00 Nicorlnc . 5,771 .98 06124t2003 5,387.85 05/28/2003 384 .13 0.00 85.00 General Growth Properties 5,150.38 06C412003 4,482.90 03/04/2003 667.48 0.00 165 .00 Gilead Sciences Inc. 5,501 .74 06t24/2003 5,905.20 06tl7/2OO3 (403 .46) 0.00 143.00 Gulfterra Energy Partners 5,215.69 06r24/2003 4,611.75 02/04/2003 603 .94 0.00 146.00 Gulfterra Energy Partners 5,325.11 06124/2003 5,387.40 05/28/2003 (62.29) 000 29j .00 Interdigital Comm Corp 6,566.79 06124/2003 5,719.36 04/15/2003 847 .43 0.00 489 .00 Infospace .corn 6,657.71 06/24/2003 5,772.65 04/08/2003 885 .06 000 309 .00 Kos Pharmaceuticals Inc. 6,763.29 06124/2003 5,660.88 04/15/2003 1,102.41 000 159.00 Martek Biosciences Corp 6,621.97 06124/2003 4,635.60 04/02/2003 1,986.37 0.00 169.00 MDU Resources Group Inc. 5,574.50 0612412003 5,364.06 05/28/2003 210.44 0.00 424.00 Massey Energy Company 5,562.61 06/24/2003 5,181.28 05/06/2003 381 .33 0.00 21.00 Markel Corp . 5,26340 06/24/2003 5,153.61 05/06/2003 109.79 0.00 246.00 Pier I Imports Inc./Del. 4,898.16 06124/2003 5,113.43 05/1312003 (215 .27) 0.00 200.00 PNM Resources Inc. 5,40030 0612412003 4,45734 03125/2003 942.96 0.00 167.00 Proassurance Corp 4,851.94 06/2412003 3,766.70 02104/2003 1,085.24 0.00 16.00 Proassurance Corp 464.86 06124/2003 359.03 02105/2003 105 .83 0.00 227 .00 Spinnaker Exploration Co 5,746.34 06/24/2003 5,901.27 06117/2003 (154 .93) 0.00 17200 Southern Co. 5,374.74 06(2412003 5,435.58 05/2812003 (60 .94) 0.00 2,167.00 Vignette Corp 4,090.78 06/24/2003 5,355.68 05/1312003 (1,264 .90) 0.00

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Sale Purchase Realized Unamortized Bond Ouantit Security Descripti2n Proceeds Date cost Date Gain (- Loss) Premium Discount) 153.00 Valero LP 6,273.10 06124/2003 5,647.23 04/15/2003 625.87 0.00 332 .00 Westar Energy Inc. 5,408.02 06124/2003 5,37508 05f28/2003 32 .94 0.00 44.00 Education Mgmt Corp 2,302.85 06/27/2003 1,802.24 03/2512003 500.61 0.00 804.00 Performance Tech Inc 5,756.36 06/27/2003 5,253.18 05/13/2003 503 .18 0.00 704.00 Pixelworks Inc 4,308.48 0612712003 5,192.14 05/1312003 (883 .66) 0.00 273.00 Verity Inc 3,499.69 06127/2003 5,181.54 05/0612003 (1,681 .85) 0.00 1 .00 Cash in Lieu - Short Term 2.70 07/03/2003 0.00 07/03/2003 2.70 0.00 1,433.00 ADC Telecommunications Inc. 3,24066 07/08/2003 4,42692 05128/2003 (1,186.26) 0.00 79.00 Ascential Software Corp 1,310.55 07/08/2003 1,271.74 05/0612003 38 .81 000 165-00 Ascential Software Corp 2,737.22 07/08/2003 2,649.92 05/0712003 87 .30 0.00 28-00 Ascential Software Corp 464.50 07108t2003 442.72 05/08/2003 21 .78 0.00 311 .00 Bayer AG - Sponsored ADR 7,22469 07/08/2003 7,122.83 06124/2003 101 .86 0.00 210.00 Computer Associates Intl . Inc. 4,88227 07/0&'2003 4,155.90 05120/2003 726.37 0.00 478-00 Continental Airlines - Class 8 7,010.15 07/08/2003 6,85930 06124/2003 150.85 0.00 91 .00 Capital One Financial Corp . 4,709.93 07/08/2003 4,256.07 05/0612003 453 .86 0.00 114.00 Garmin Ltd 4,810.57 07/08/2003 3,752.82 03/0412003 1,057.75 0.00 361 .00 Micrel Inc 4,019.08 07/0812003 4,339.04 05/06/2003 (319 .96) 0.00 101.00 Merrill Lynch & Co. 5,16085 07/0W2003 4,958.09 0611712003 202 .76 0.00 175.00 MG1 Pharm Inc. 4,87702 07/0&'2003 4,969.51 0611712003 (92.49) 0.00 174.00 Microstrategy Inc-Cl A 7,203.26 07/08/2003 4,749.70 04/0&2003 2,453.56 0.00 543 .00 Scicione Pharmaceuticals Inc. 4,699.60 07/08/2003 4,211.18 05/20/2003 488.42 0.00 279.00 ADC Telecommunications Inc. 645 .62 07/1512003 861 .90 05/2812003 (216.28) 0.00 180.00 Angiotech Pharmaceuticals 7,687.23 07/15/2003 5,626.48 06/10/2003 2,060.75 000 52.00 Ascential. Software Corp 86887 07/15/2003 822.19 05/08/2003 46.68 0.00 1.00 Ascential Software Corp 16.71 07/15/2003 0.00 06/18/2003 16.71 0.00 60.00 Bayer AG - Sponsored ADR 1,367.93 07/15/2003 1,374.18 06124/2003 (6.25) 0.00 41-00 Computer Associates Intl . Inc. 991 .33 07/15/2003 811 .39 05/2012003 179 .94 000 150-00 Canon Inc-Spon Adr 7,211.98 07115/2003 5,108.07 07/23/2002 2,103.91 0.00 93.00 Continental Airlines - Class B 1,363.31 07/1512003 1,334.55 06124/2003 28.76 0.00 924.00 Cincinnati Bell Inc 6,255.18 07/1512003 4,851.00 05/06/2003 1,404.18 000 18.00 Capital One Financial Corp . 941 .71 07/15/2003 84186 05/06/2003 99.85 0.00 250.00 Cv Therapeutics Inc. 8,494.60 07/15/2003 5,123.45 05/13/2003 3,371 .15 0.00 254.00 D R Horton Inc. 7,302.00 07/15/2003 5,679.44 04/1512003 1,622.56 0.00 445-00 Deutsche Telekom AG - Spon. ADR 6,284.84 07/15/2003 5,639.66 04/08/2003 645.18 0.00 21400 Eon Labs Inc 8,004-98 07/15/2003 4,995.15 11/21/2002 3,009.83 0.00 209.00 Eon Labs Inc 7,817.94 07/15/2003 4,994.56 11/22/2002 2,823.38 000 782.00 Earthlink Inc 6,36517 07/15/2003 4,69200 04/0212003 1,67317 0.00 500.00 Energy Partners Ltd 5,22600 07/15/2003 5,97500 0611712003 (749 .00) 0.00 22.00 Garmin Ltd 928 .35 07/15/2003 724.23 03/0412003 204.12 0.00 993.00 WebMD Corp 11,827 .76 07/15/2003 4,925.16 10/0412002 6,902.60 0.00 130 .00 H&R Block Inc 5,706.73 07/1512003 5,406.12 03/19/2003 300.61 0.00 473.00 Impax Laboratories Inc. 5,670.48 07/1512003 6,022.19 06117/2003 (351 .71) 0.00 D,riehaus Capital Management Friday January 23, 2004 16:49:46 Page 21 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056519 -- RHD FOUNDATION - ALLCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Descritition Proceeds Date cost Date Gain (- Loss) Premium Discount) 70.00 Micrel Inc 76856 07/1512003 841 .37 05/06(2003 (72 .81) 0.00 144.00 MDU Resources Group Inc 4,749.22 07/15/2003 4,966.46 07/08/2003 (217 .24) 0.00 20.00 Memll Lynch & Co. 1,068.54 07/1512003 981 .80 06117/2003 8674 0.00 34.00 MGI Pharma Inc. 970.99 07/15/2003 96550 06/1712003 5.49 0.00 662.00 Micromuse, Inc. 6,083.03 07/15/2003 5,22980 05/0612003 853.23 0.00 257 .00 National Health Investors Inc. 4,831.37 07/15/2003 4,970.38 0710812003 (139 .01) 0.00 408.00 Nippon Tel & Tel A D R 8,918.46 07/15/2003 8,19929 06/24/2003 719.17 0.00 15.00 NVR Inc 6,339.30 07/15/2003 5,502.00 04/1512003 837.30 0.00 84.00 PaccarInc. 6,103.99 07/1512003 5,962.32 06/1712003 141 .67 0.00 519.00 Philippine Long Dist. - Sp. ADR 5,268.33 07/192003 5,64065 06127/2003 (372 .32) 0.00 162 .00 Photon Dynamics Inc 4,61030 07/15/2003 5,023.62 07/08/2003 (413 .32) 0.00 329 .00 Regeneron Pharmaceutical 5,296.65 07/1512003 5,974.44 06/1712003 (677 .79) 0.00 106.00 Sciclone Pharmaceuticals Inc. 944.41 07/15/2003 822.07 05/20/2003 122 .34 0.00 1,290.00 Sonus Network 9,20010 07/15/2003 3,118.93 04108/2003 6,081 .17 0.00 388 .00 Stewart & Stevenson Services 6,182.36 07/1512003 5,99650 06/17/2003 185 .86 0.00 195 .00 Telefonica SA - Span. ADR 6,623.30 07/1512003 5,891.13 01/10/2003 732.17 0.00 77.00 Telecom Italia Ads Cl A 6,80887 07/15/2003 5,609.45 04/08/2003 1,199.42 0.00 341 .00 Vector Group Ltd. 5,986.24 07/1512003 5,967.06 0611712003 19 .18 0.00 445.00 Wabash National Corp . 6,852.67 07/15/2003 5,162.00 05/13/2003 1,690.67 0.00 1.00 Cash in Lieu - Short Term 2.48 07/17/2003 0.00 07/1712003 2.48 0.00 277 .00 Alpharma Inc. - Cl. A 5,761.32 07/2112003 4,676.81 01122/2003 1,08451 0.00 158 .00 Avocent Corporation 4,144.14 07/21/2003 4,798.46 0412212003 (654.32) 0.00 229.00- Digene Corporation 6,093.77 07121/2003 5,003.65 05/13/2003 1,090.12 0.00 28200 Amdocs Ltd . ADR 6,828.10 07121/2003 5,104.20 05/0612003 1,72390 0.00 1,246.00 Idenux Inc 7,488.72 07/21/2003 8,507.31 06124/2003 (1,018.59) 0.00 418.00 Juniper Networks Inc. 5,634.37 07/21/2003 6,115.34 07/15/2003 (480 .97) 0.00 84400 Medarex Inc. 4,570.97 0712112003 6,034.60 06/17/2003 (1,46363) 0.00 121.00 Radware IAd 2,010.92 07/21/2003 2,184.05 06/27/2003 (173.13) 0.00 263 .00 Tektronix Inc. 5,44647 07/21/2003 5,115.19 05/13/2003 331 .28 0.00 264.00 Total System Services Inc. 6,018.91 07/21/2003 4,842.76 0412212003 1,176.15 0.00 262.00 Vodafone Group PLC - Spons. ADR 4,78806 07/21/2003 5,308.12 11/21/2002 (52006) 0.00 19600 Radware lid 3.257.77 07/22/2003 3,537.80 06/27/2003 (280.03) 0.00 94.00 Ambac: Financial Group Inc. 5,389.34 08/07/2003 5,545.68 0611012003 (156.34) 0.00 512.00 Advanced Digital Info. Corp. 5,191.43 08/07/2003 3,977.78 02/20/2003 1,21365 000 1,465.00 Akamai Technologies Inc 5,382.57 08/07/2003 5,111 .00 05/0612003 271 .57 0.00 158.00 Amencan Pharmaceutical Part 6,051.11 08/07/2003 4,869.96 05/2012003 1,181.15 0.00 105.00 Bio-rad Laboratories-cl A 5,516.78 08/07/2003 5,084.53 05/06/2003 432.25 0.00 187.00 Barnes & Noble Inc 4,300.79 08/07/2003 4,677.47 07121/2003 (376 .68) 0.00 43.00 Biosite Diagnostic Inc 1,765.50 08/07/2003 1,776.36 04/0212003 (1086) 0.00 71.00 Biosite Diagnostic Inc 2,915.12 09/07/2003 2,997.86 04/0312003 (8274) 0.00 319.00 Compucredit 4,180.01 08/07/2003 4,603.30 0712112003 (423 .29) 0.00 1 ,0716.00 lUina.com 9,457~59 08/07/7003 8,360.52 06/24/2003 1,097.07 0.00

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378-00 China Mobile HK Ltd. - Spons. ADR 4,698.57 08/07/2003 5,007.40 07/08/2003 (30883) 0.00 277-00 Checkfree Corp. 5,886.83 08107/2003 5,371.97 01/30(2003 514.86 0.00 219-00 Correctional Properties Trust 5,458.64 08/07/2003 6,14054 07/1512003 (681 .90) 0.00 156-00 Diagnostic Products Corp . 5,794.29 08107/2003 5,472.48 03/19/2003 321 .81 0.00 146-00 Dora] Financial Corp. 6,198-95 08/07/2003 5,672.10 04/15/2003 526.85 000 1,788.00 E-Loan Inc. 6,88759 08/07/2003 4,825.08 01/2212003 2,062.51 0.00 301-00 Espeed Inc Cl A 4,993.35 09/07/2003 5,757.56 06127/2003 (764.21) 0.00 169-00 FacLset Research Systems Inc 7,447.48 08/0712003 5,747.49 04/1512003 1,699.99 0.00 20.00 Fremont Gen Corp 249.98 08/07/2003 135 .78 03/25/2003 114 .20 000 982-00 Gric Communications Inc 4,98469 08/07/2003 6,282.44 07/15/2003 (1,297 .75) 0.00 447.00 Integrated Device Technology Inc. 4,685.67 08/0712003 5,140.86 05/06/2003 (455 .19) 0.00 152 .00 Imation Corp 5,204.23 08107/2003 6,107.36 07/15/2003 (903 .13) 0.00 398 .00 Instinct Group Inc 1,60386 08/07/2003 2,272.58 07/15/2003 (66872) 0.00 612.00 Integrated Silicon Solut 3,983.93 08/07/2003 5,030.64 07/08/2003 (1,04671) 0.00 144 .00 Integrated Silicon Solut 937.39 08/07/2003 1.169.28 07/15/2003 (231 .89) 0.00 122-00 Landamerica Financial Group 5,431.41 08/07/2003 4,707.98 01/22/2003 723.43 0.00 114.00 Moody's Corporation 5,752.17 08/07/2003 5,449.20 03/1912003 302.97 0.00 131-00 M/1 Schottenstein Homes Inc. 5,299.42 08/07/2003 5,56031 0& 10/2003 (260.89) 0.00 W-00 -Knight Trading Grp Cl A 5,447.62 09/0712003 6,130.73 07/15/2003 (683 .11) 0.00 330-00 Network Appliance Corp 4,883.76 08/07/2003 5,359.20 05/29/2003 (475 .44) 0.00 556.00 Net Bank Inc 6.671.90 09/07/2003 5,779.06 04/0812003 892 .84 0.00 520-00 PMC - Sieffa Inc. 5,424.74 08/07/2003 4,903.55 05/0612003 521 .19 000 119-00 Ryland Group Inc. 7,815.55 08/07/2003 5,635.29 04108/2003 2,180.26 0.00 131 .00 Sharper Image Corp. 3,415.84 08/07/2003 3,68908 06117/2003 (273.24) 0.00 111-00 Taro Pharmaceutical Indus. ADR 5,466.49 08107/2003 4,603.70 04102/2003 862.79 0.00 581-00 Western Digital Corp . 4,978.64 08/07/2003 3,561 .53 10/25/2002 1,417.11 0.00 50-00 Advanced Digital Info. Corp. 497.29 08/08/2003 388.46 0212012003 108 .83 0.00 287-00 American Home Mtg Holdings 4,746.26 08/08/2003 5,940.90 06/17/2003 (1,194.64) 0.00 5.00 American Pharmaceutical Part 201 .19 08/08/2003 154 .11 05/20/2003 47.08 0.00 10-00 Checkft-ee Corp. 212.98 08/08/2003 193 .93 01/3012003 19 .05 0.00 649.00 Fremont Gen Corp 8,293.82 OW08/2003 4,406.00 03/25/2003 3,887.82 0.00 69-3 .00 Instinet Group Inc 2,826.76 08/0812003 3,985.58 07/15/2003 (1,158.82) 0.00 9.00 Net Bank Inc 109.34 08/09/2003 93.55 04/08/2003 15 .79 0.00 27-00 PMC - Sierra Inc. 277.54 08/08/2003 254.61 05/06/2003 22 .93 0.00 80-00 Sharper Image Corp. 1,960.70 08/08/2003 2,252.87 06117/2003 (292.17) 000 14.00 Western Digital Corp . 117.73 08/08/2003 85 .82 10/2512002 31 .91 0.00 638-00 Westel Technologies Inc. - A 4,536.73 09/0812003 5,627.16 06110/2003 (1,09043) 0.00 31.00 Advanced Digital Info. Corp. 309.54 08/11/2003 240.84 02/2012003 68.70 000 727-00 TiVo Inc. 6,065.29 08/11/2003 5,669.07 05/2812003 39622 000 121-00 Adtran Inc. 5,641.96 0811212003 4,491 .70 03/25/2003 1,150.26 0.00 917.00 AVI BioPharm Inc. 3,965.04 09/12/2003 5,043.50 05/06f2003 (1,078.46) 0.00 275.00 Broadcom Corp . - Cl. A 5,889.67 08/1212003 4,884.00 04/22/2003 1,00567 0.00 Driehaus Capital Management Friday January 23, 2004 16:49:46 Page 23 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056519 -- RHD FOUNDATION - ALLCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Descricition Proceeds Date Cost Date Gain (- Loss Premium Discount

934.00 Chippac Inc 4,893.92 08/12/2003 5,193.04 05/06/2003 (299 .12) 000 1,203.00 Conexant Systems 5,065.94 08/12/2003 4,686.00 06(27/2003 379 .94 0.00 547 .00 Cypress Semiconductor Corp 7,411.50 08/1212003 4,884.71 04/2212003 2,526.79 0.00 424.00 Digital River Inc. 8,87564 Oa/12/2003 4,87600 11/14/2002 3,999.64 0.00 647.00 Discovery Uboratories Inc. 4,323.63 08/12/2003 4,770.14 07121/2003 (446.51) 0.00 32900 Dycom Industries Inc. 5,59049 08/12/2003 5,575.69 W10/2003 1480 0.00 140.00 Engineered Support Systems 6,043.61 Oa/1212003 5,931 .80 06/17/2003 111 .81 0.00 76.00 Ebay Inc. 7,750.27 08/12/2003 4,827.52 10131/2002 2,922.75 0.00 883 .00 ESS Technology 7,579.67 Oa/12/2003 8,262.41 06/24/2003 (682,74) 0.00 178.00 Fisher Scientific Ind 6,29223 09/1212003 5,945.20 06117/2003 347 .03 0.00 767 .00 GlobeSpan Virata Inc 5,000.60 08/1212003 5,215.68 05/0612003 (215 .08) 0.00 722.00 Dot Hill Systems Corp 10,714.48 Oa/1212003 5,21284 05/06/2003 5,501 .64 0.00 181.00 ind Rectifier Corp . 5,610.73 08/12/2003 5,62074 08/07/2003 (1001) 0.00 92.00 Invitrogcn Corp 4,570.34 08/12/2003 4,613.80 07121/2003 (43 .46) 0.00 161.00 Mid Atlantic Medical Services 8,023.15 08/12/2003 8,217.81 06124/2003 (194.66) 0.00 400.00 Mind Technologies Inc 1,081.01 08/12/2003 1,028.49 06127/2003 52 .52 0.00 16ii .00 Mar vcll Technologies 5,883.08 08/12/2003 5,585.24 06/27/2003 297 .94 0.00 34.00 Microstrategy Inc-Cl A 1,195.04 08/1212003 928.10 04/0812003 26694 0.00 107.00 Microstratcgy Inc-Cl A 3,760.87 Oa/ 1212003 4,559.27 07/15/2003 (798.40) 000 231 .00 NBTY Inc. 5,752.01 08112/2003 5,756.20 08/07/2003 (4,19) 0.00 335 .00 Newport Corp. 5,337.50 08/1212003 5,603.11 08/07/2003 (265 .61) 0.00 216.00 National Semiconductor Corp 5,034.87 Oa/ 1212003 4,936.72 0512012003 98 .15 0.00 54.00 National Semiconductor Corp 1,258.72 08/12/2003 1,215.00 07/15/2003 43 .72 0.00 145.00 Nelease .com Inc. ADR 6,369.10 08/1212003 1,02667 11/14/2002 5,342.43 0.00 908.00 Opsware Inc 4,341 .47 08112/2003 5,166.43 07/0&'2003 (824.96) 0.00 175.00 Opsware Inc 836.74 08/1212003 973.75 07/1512003 (137.01) 0.00 736.00 Quanta Services Inc. 3,951.54 08/1212003 5,593.60 06/10/2003 (1,642,06) 0.00 137.00 Qlogic Corp 5,961 .96 09/1212003 5,382.73 03/19/2003 579 .23 0.00 233.00 Select Comfort Corp . 4,503.44 08/1212003 4,968.68 07/08/2003 (465 .24) 0.00 45.00 Sina Corp 1,346.97 08112/2003 237 .15 12/06/2002 1,109.82 0.00 177.00 Sina Corp 5,29808 08/1212003 939.96 12/09/2002 4,358.12 0.00 1,188.00 Terayon Communication Sy 5,447.90 08/12/2003 5,912.91 Oa/07/2003 (465 .01) 0.00 107.00 Teva Pharmaceutical - Sp. ADR 5,84648 08/12/2003 5,951 .34 06t 17/2003 (104.86) 0.00 134.00 University of Phoenix Online 7,626.92 08/12/2003 5,481 .94 03/1912003 2,144.98 000 1,344.00 Vitesse Semiconductor Corp . 7,26935 08/1212003 5,206.24 05/06t2003 2,063 11 000 499.00 Checkers Drive-in Restaurant 5,021 .90 08/1812003 6,193.59 07/1512003 (1,171 .69) 0.00 3,293.00 Peerless System Corp 9,909.19 08118/2003 8,705-52 06124/2003 1,203.67 0.00 143.00 Redwood Trust Inc. 5,57005 Oa/ 1 8f2003 4,484.48 03/0412003 1,085.57 0.00 102.00 Sina Corp 3,093.00 09/1812003 537.54 12/0612002 2,55546 0.00 89.00 Sina Corp 2,698.79 08/1812003 451 .81 12t1012002 2,246.98 0.00 34.00 Sina Corp 1,031.00 09118r2003 167 .45 12/11/2002 863 .55 0.00 217.00 Supervalu Inc 5,128.15 Oa/ 18122003 4,9599.5 1 007/08,111003 168 64 0.00

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372.00 America Movil-series L ADR 8,264.67 08/26/2003 5,725.08 04/15/2003 2,539.59 0.00 73.00 Eni Spa-sponsored Adr 5,469.81 08/2612003 5,698.72 08/12/2003 (22891) 0.00 438.00 Harmony Gold Mng - Spon ADR 5,87878 08/26/2003 5,759.70 08/12/2003 11908 0.00 522.00 Nextel Partners Inc -cl A 3,885.16 08/26/2003 4,767.43 07/08/2003 (882.27) 0.00 189.00 Owens & Minor Inc. Hldg . Co. 4,24196 08/2612003 4,624.83 07/21/2003 (382 .87) 0.00 41000 Osteotech Inc. 4,472.88 0812612003 5,135.78 05/2012003 (662.90) 0.00 253 .00 RLI Corp 8,014.28 08/26/2003 8,293.92 06(2412003 (279.64) 0.00 634.00 Scientific Games Corp-A 5,180.35 08/2612003 6,14980 07/15/2003 (969.45) 0.00 279.00 Sierra Health Services 5,55462 08/26/2003 5,149.45 05/06/2003 405.17 0.00 253 .00 Sybron Dental Specialties 6,022.15 08/26t2003 5,132.99 05/0612003 889 .16 0.00 528 .00 Tradestation Group Inc 5,050.29 08/26t2003 5,932.19 06/17/2003 (881-90) 0.00 84.00 Whirlpool Corp. 5,684.01 0&-26/2003 5,687.51 08/12/2003 (3.50) 0.00 101.00 Zions Bancorporation 5,606.24 08/2612003 5,719.63 08/12/2003 (113 .39) 0.00 1.00 Cash in lieu - Short Term 1225 08/2912003 0.00 08129/2003 12 .25 0.00 148 .00 Bright Horizons Family Solutions 5,70365 09/04/2003 5,604.76 08/07/2003 9889 0.00 305 .00 Carpenter Technology 6,455.84 09/04/2003 5,733.21 08/1212003 722.63 0.00 154.00 Dover Corp . 5,827.08 09/04/2003 5,711 .86 09/12/2003 115 .22 0.00 295.00 Guitar Center Inc. 10,246.31 0910412003 8,169.23 06/24/2003 2,077.08 0.00 60.00 K Two Inc 1,059.55 09/04/2003 1,049.73 08/12/2003 9.82 0.00 270.00 K Two Inc 4,767.97 09/0412003 4,861 .08 08/13/2003 (93 .11) 0.00 421.00 ATI Technologies Inc ADR 6,220.23 09/08/2003 2,353.39 04/02/2003 3,86684 0.00 28.00 Avid Technology Inc. 1,533.21 09/08/2003 391 .21 10/31/2002 1,142.00 0.00 68.00 Avid Technology Inc. 3,723.50 09/0812003 1,663.28 04/0212003 2,06022 0.00 50.00 Corinthian Colleges Inc 2,761.20 09/08/2003 1,768.00 02120/2003 993.20 0.00 22.00 Corinthian Colleges Inc 1,21493 09/0812003 1,046.10 06/27/2003 168 .83 0.00 47.00 Corinthian Colleges Inc 2,595.53 09/08/2003 2,41439 07/15/2003 181 .14 0.00 229 .00 Cato Corp Cl A 4,901.07 09/08/2003 5,697.59 08/1212003 (796.52) 0.00 393 .00 Finish line - Cl. A 9,805.71 09/0812003 8,170.27 06/24/2003 1,635.44 0.00 109.00 MBIA Inc. 6,19090 09/08/2003 5,376.97 05/28/2003 813 .93 0.00 252.00 Mentor Graphics Corp . 5,190.95 09/0&12003 2,310.81 02/0412003 2,88014 0.00 4000 3M Co. 5,501.10 09/08/2003 5,71400 08/1212003 (212.90) 0.00 150.00 Newmont Mining Corp. 5,804.72 09/08/2003 5,692.50 08/1212003 112 .22 0.00 208 .00 PDI Inc 4,913.12 09/08/2003 5,620.04 08/12/2003 (706.92) 0.00 6200 Polaris Industries 4,899.85 09/0&'2003 4,587.38 07/2112003 31247 0.00 388 .00 Perkinelmer Inc. 6,421.09 09/08/2003 5,602.72 08/0712003 81837 0.00 940.00 Prim us Telecommun Grp 7,483.26 09/08/2003 6,11009 07/15/2003 1,373.17 0.00 161 .00 Quality Systems Inc. 6,906.57 09/08/2003 5,514.25 08107/2003 1,39232 0.00 100.00 Sandisk Corp 6,35430 09/08/2003 2,439.00 04/22/2003 3,915.70 0.00 402.00 Ultralife Batteries Inc 4,501.13 09/08/2003 4,608.13 07/21/2003 (107-00) 000 40400 Unova Inc 5,999.96 09/08/2003 5,732.76 08/12/2003 267.20 0.00 286.00 Western Wireless Corp . - Cl. A 5,75624 09/08/2003 2,557.61 05/2012003 3,19863 0.00 107 .00 Deere & Co. 5,778.92 09/15/2003 5,988.79 08/2612003 (209 .87) 0.00 Driehaus Capital Management Friday January 23, 2004 16:49:46 Page 25 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056519 -- RHD FOUNDATION - ALLCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Descrintion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

136.00 Federated Department Stores 5,783.80 09/1512003 5,702.48 08/1212003 81 .32 000 373.00 Gevity Hr Inc 6,056.48 09/15/2003 5,170.41 07/15/2003 886.07 000 226.00 Intl Game Technology 6,02261 09/15/2003 6,108.94 07/15/2003 (86 .33) 0.00 939.00 KCS Energy Inc. 6,405.27 09/15/2003 5,061.21 07/O8t2OO3 1,344-06 0.00 532.00 Mapinfo Corp 5,802.67 09/15/2003 6,078.10 07/15/2003 (275 .43) 0.00 186 .00 Netflix Inc 6,50205 09/15/2003 2,299.15 02/0412003 4,202.90 000 367 .00 Titan Corp. 6,313.57 09/1512003 5,640.79 08/07/2003 672.78 0.00 556.00 Wireless Facilities, Inc. 7,183 18 09/15/2003 5,609.98 06/1012003 1,573.20 0.00 331 .00 Wabash National Corp. 5,868.48 09/15/2003 5,606.54 08/07/2003 261 .94 0.00 69.00 Gcvity Hr Inc 1,170.18 09/16/2003 956.46 07/15/2003 213.72 0.00 437.00 Airtran Holdings Inc. 7,630.49 09124t2OO3 4,195.20 06124/2003 3,435.29 0.00 691 .00 CIBER Inc. 5,804.67 0912412003 6,202.42 07/1512003 (397 .75) 0.00 462 .00 Centillium Communications Inc 3,645.01 09/24/2003 4,305.70 05/0612003 (660 .69) 0.00 74.00 Centillium Communications Inc 583 .83 09124/2003 656.20 05/07/2003 (72 .37) 0.00 23.00 Centillium Communications Inc 181 .46 09/2412003 194 .49 05/0912003 (13 .03) 0.00 1,008.00 Cable & Wireless PLC - Sp. ADR 5,893.18 09124/2003 5,781 .18 06127/2003 112 .00 0.00 394.00 Ecollege com Inc 8,697.77 0912412003 4,121 .16 06/2412003 4,576.61 0.00 449.00 Entegris Inc 5,707.33 09/2412003 5,985.17 06tl712003 (277 .84) 000 391-00 General Motors - Class H 5,666.04 09124/2003 5,103.68 05/06/2003 562.36 0.00 807.00 Kopin Corp. 6,805.91 09/2412003 6,141 .27 07/1512003 664.64 0.00 232.00 Masco Corp. 5,670.51 09124/2003 5,733.90 08/1212003 (63 .39) 0.00 270.00 Priceline.com Inc 8,023.10 09/2412003 5,691 .21 05/0612003 2,331 .89 0.00 218.00 Trimble Navigation Ltd. 5,69607 09/24/2003 4,600.61 04/02/2003 1,095.46 0.00 453.00 Advanced Digital Info. Corp. 6,291.92 09/29/2003 6,020.37 08/2612003 271 .55 0.00 553 .00 Amkor Technologies Inc. 8,148.56 09/29/2003 5,140.74 05/13/2003 3,007.82 0.00 562.00 Andrew Corp. 6,713.00 09/29/2003 5,159.16 05/06/2003 1,553.84 0.00 566.00 Andrew Corp. 6,760.78 09129/2003 5,159.57 05/06/2003 1,601.21 000 676.00 Circuit City Stores - Circuit 6,561.61 0912912003 6,259.76 07/15/2003 301 .85 0.00 508.00 Crown Castle Intl Corp. 4,592.10 09/29/2003 5,008.47 07/08/2003 (416.37) 0.00 108 .00 Crown Castle Intl Corp . 97627 09129/2003 1,083.24 07/15/2003 (106.97) 0.00 1,097.00 Conexant Systems 6,141.69 09/29/2003 6,636.85 09/04/2003 (495 .16) 000 899 .00 Columbia Laboratories Inc. 11,464.76 09/2912003 8,315.75 0612V2003 3,149.01 0.00 228 .00 Digital Insight 4,338.63 09129/2003 4,993.20 07/08/2003 (654.57) 0.00 169 .00 Digene Corporation 6,497.74 09/29/2W3 5,569.90 08107/2003 927.84 0.00 947.00 Extreme Networks Inc 6,079.73 09/29/2003 5,785.89 08/1212003 293.84 0.00 793 .00 GlobeSpan Virata Inc 5,683.00 09/2912003 6,545.58 09/04/2003 (862 .58) 0.00 299.00 4kids Entertainment Inc 5,916.15 09/29/2003 6,171 .93 O8f2612003 (25578) 0.00 222.00 Leapfrog Enterprises Inc 8,593.23 09/2912003 5,518.92 03/19/2003 3,074.31 0.00 74300 Legato Systems Inc 8,307.97 09/2912003 5,381.85 05/28/2003 2,92612 0.00 252.00 Mentor Graphics Corp . 4,517.08 09/29/2003 2,310.81 0210412003 2,206.27 0.00 71 .00 PaccarInc. 5,311.97 09/2912003 5,612.08 09/12/2003 (300.11) 000 94.00 Pbarinaccutical Resources, Inc. 6,116.29 09/29/2003 6.43966 09/15/2003 (323 .37) 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Descrii)tion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

622.00 Powerwave Tech Inc 4.136.91 09129/2003 6,699.69 09/0812003 (2,562 .78) 0.00 537.00 Power One Inc 5,477.78 09/29/2003 5,625.18 08/07/2003 (147 .40) 000 57800 Switchboard Incorporated 5,097.71 09/29/2003 6,531 .40 09/15/2003 (1,433 .69) 0.00 201 .00 Synovis Life Technologies Inc 5,005.46 09/29/2003 4,734.39 07/21/2003 27107 0.00 126 .00 UTStarcom Inc 4,030.55 09/29/2003 5,006.57 07/08/2003 (976.02) 000 23.00 UTStarcom Inc 735 .73 09/29/2003 958.02 07/15/2003 (222.29) 0.00 940.00 Vitesse Semiconductor Corp. 5,987.51 09/29/2003 6,514.20 09/1512003 (526.69) 0.00 222.00 Zoran Corp. 4,456.66 09/29/2003 5,396.13 08/0712003 (939.47) 0.00 1,55000 Enterasys Network Inc 6,108.17 09/3012003 6,310.87 07/1512003 (202.70) 000 389.00 Regeneration Technologies 3,629.19 09/30/2003 5,797.07 08/07/2003 (2.167 .88) 0.00 153 .00 Minas Buenaventura Spon ADR 5,885.83 10t06/2003 5,696.19 08/12/2003 189 .64 0.00 191 .00 Claire's Stores Inc. 6,693.29 10106/2003 5,712.49 0811212003 980.80 0.00 243.00 Cemex ADR 5,717.74 10t06/2003 6,012.96 08/26/2003 (295 .22) 000 522.00 Laserscope 6,407.14 10(06/2003 6,154.38 09/29/2003 25276 0.00 700.00 IS I Logic Corp 6,649.68 10/0612003 6,195.00 07/15/2003 45468 0.00 190 .00 Research in Motion Inc 8,230.41 100612003 4,155.30 06/24/2003 4,075.11 0.00 499.00 Tommy Hilfiger Corp 6,045.05 10/06t2003 5,753.47 08/12/2003 291 .58 0.00 155 .00 WFS Financial Inc. 5,771.92 1010612003 5,552.10 08/07/2003 219.82 0.00 80.00 Career Education Corp. 3,437.95 10115/2003 1,877.20 0210412003 1,560.75 0.00 22.00 Career Education Corp. 945 .44 10115/2003 741 .51 06/27/2003 203.93 0.00 58.00 Career Education Corp. 2,492.51 10115/2003 2,211.54 07/15/2003 280.97 0.00 438.00 Candela Corp. 5,747.07 10/15/2003 6,175.71 07/15/2003 (428 .64) 0.00 1,119.00 Covad Communications 6,17658 1 Ot 15/2003 6,669.24 09/15/2003 (492 .66) 0.00 141 .00 Cymer Inc. 6,37008 10/15/2003 6,483.18 09/15/2003 (113 .10) 0.00 104 .00 Engineered Support Systems 6,821.64 10/15/2003 6,557.20 09/08/2003 264.44 0.00 124 .00 1 T T Educational Svcs 5,754.57 10/15/2003 4,637.60 07/21/2003 1,116.97 0.00 720.00 Evolving Systems Inc. 10,428.70 10115/2003 5,657.26 08/07/2003 4,771 .44 0.00 267.00 Helen of Troy Ltd. 6,002.27 10/15/2003 5,745.84 08/1212003 256 .43 0.00 434.00 Impax Laboratories Inc. 5,992.47 10t1512003 6,507.83 09/15/2003 (515 .36) 0.00 169 .00 Kindred Healthcare Inc 6,713.32 10/15/2003 6,193.85 09/2912003 519 .47 0.00 625.00 Kulicke & Soffa Industries 7,818.38 IW15/2003 5,593.75 08/0712003 2,22463 0.00 285 .00 KyphonInc 6,537.82 1 Ot 1512003 5,697.15 08/0712003 840 .67 0.00 1,022.00 Liveperson Inc 3,873.30 1 Ot 15/2003 3,894.78 09/08/2003 (21 .48) 000 479.00 Liveperson Inc 1,815.37 10/1512003 1,810.05 09/0912003 5.32 0.00 105 .00 Liveperson Inc 397.94 10/15/2003 381 .37 09/1 W003 16 .57 0.00 29.00 Liveperson Inc 109.91 10115/2003 108 .13 09/11/2003 1 .78 0.00 69.00 Liveperson Inc 261 .50 10/15/2003 261 .42 09/12/2003 008 0.00 27.00 Liveperson Inc 102.33 10115/2003 103 .55 09/15/2003 (1.22) 0.00 20.00 Liveperson Inc 75.80 10/15/2003 73.46 09/1612003 234 0.00 11.00 Liveperson Inc 41.69 10/1512003 39 .50 09/17/2003 2.19 0.00 76.00 MGI Pharma Inc. 2,995.36 10/15/2003 2,788.44 08/07/2003 206.92 0.00 266.00 OGE Energy Corp . 5,904.92 10/15/2003 5,572.49 0611=003 33243 0.00 Driehaus Capital Management Friday January 23, 2004 16:49:46 Page 27 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056519 -- RHD FOUNDATION - ALLCAP

Sale Purchase Realized Unamortized Bond Ouantitv Security Description Proceeds Date Cost Date Gain (- Loss) Prerniurn Discount) 406.00 Polycom Inc 7,282.88 10115/2003 6,082.81 07/15/2003 1,200.07 0.00 61.00 Strayer Education Inc 5,666.63 1 Ot 15/2003 5,751 .08 08/1212003 (84 .45) 0.00 290.00 Ventas Inc 5,182.93 10/15/2003 4,667.49 07/2112003 515.44 000 77.00 Ventas Inc 1,376.16 10115/2003 1,29437 09/29/2003 81 .79 0.00 286.00 Western Wireless Corp. - Cl. A 5,692.10 1 Ot 15/2003 2,557.61 05/2012003 3,134.49 0.00 75.00 MGI Phanna Inc. 2,860.56 1011612003 2,751 .75 08/07/2003 108.81 0.00 609-00 Align Technology Inc 8,96435 10/21/2003 5,060.79 05/0612003 3,90356 0.00 453.00 AT Road Inc 6,661 .00 10/21/2003 6,74164 1010612003 (80 64) 0.00 505.00 Avaya Inc 6,726.99 10121/2003 2,563.73 05/06f2003 4,163.26 000 37.00 Avid Technology Inc. 2,050.09 10/21/2003 516.95 1061/2002 1,533.14 0.00 253 .00 Brightpoint Inc. 6,914.72 10/21/2003 2,822.58 08/0712003 4,092.14 0.00 1 .00 Cash in Lieu - Short Term 1325 10/21/2003 0.00 10/21/2003 13.25 000 225.00 DSP Group Inc. 5,36961 10/21/2003 5,604.37 08/07/2003 (23476) 0.00 39200 Ecollege com Inc 7,426.60 10/21/2003 4,10024 06124/2003 3,326.36 0.00 312.00 Endo Pharmaccut Hldgs Inc 4,905.30 10/2112003 6,662.10 09/24/2003 (1,756 .80) 0.00 38600 Frontier Airlines Inc 7,223.34 1012112003 5,773.36 08/1212003 1,449.98 0.00 167 .00 Group lAutornotive inc. 6,130.28 10/21/2003 6,092.28 07115/2003 38.00 0.00 1,179.00 Gateway 2000 Inc 7,458.23 10121/2003 5,834.64 08/12/2003 1,623.59 0.00 41200 Interstate Bakeries 6,131 .22 10/21/2003 6,225.32 09/29/2003 (94 .10) 0.00 126 .00 Martek Biosciences Corp 5,916.68 10/21/2003 6,431.04 09/15/2003 (514 .36) 000 246.00 Modme Manufactuing Co. 6,194.89 10/21/2003 6,161.17 09/29/2003 33.72 0.00 535.00 Knight Trading Grp Cl A 7,36061 10/21/2003 6,205.63 0912912003 1,15498 0.00 90.00- Pixar 6,245.70 10/21/2003 6,111.90 07/15/2003 133 .80 0.00 413.00 Pope & Talbot Inc. 5,548.72 10/2112003 6,272.52 09/2912003 (723 .80) 000 433.00 Pozen Inc 4,797.02 10/21/2003 4,548.67 06/24/2003 248 .35 0.00 524.00 RSA Security Inc 6,790.03 10121/2003 5,213 .38 05/0612003 1,576-65 000 348.00 Intrado Inc 7,834.19 10/21/2003 6,340.56 07/15/2003 1,493.63 000 237.00 Trinity Industries 5,88678 10/21/2003 5,695.11 08/12/2003 191 .67 0.00 426.00 Tyson Foods Inc-Cl A 6,125.59 10421/2003 6,113.10 09129/2003 12.49 0.00 21600 WRIGHT MEDICAL GROUP INC 6,064.86 10/21/2003 4,816.80 07/2112003 1,248.06 0.00 39.00 Avid Technology Inc. 2,103.56 10/22t2003 54490 10/31/2002 1,558-66 0.00 361 .00 Pozenlnc 4,027.01 10/2212003 3,792.31 06124/2003 234 .70 000 6.00 Avid Technology Inc. 307.61 10/23/2003 83 .83 10/31/2002 223 .78 0.00 1.00 Pozen Inc 77.62 10/23/2003 7354 0612412003 4.08 000 43600 Airtran Holdings Inc. 7,095.39 10/27/2003 4.185 .60 06/2412003 2,909.79 0.00 104.00 Alberto-Culver Co. - Cl. B 6,443.00 10127/2003 6,15264 09129/2003 290 .36 0.00 320.00 Autonation Inc 5,823.72 10(27/2003 5,711 .39 08/12/2003 11233 0.00 316.00 Applied Signal Technology 6,207.36 10127/2003 5,758.53 08112/2003 448.83 0.00 18.00 Avid Technology Inc. 90458 10/27/2003 251 .49 10/31/2002 653,09 0.00 213 .00 Capital Automotive REIT 6.624 .62 10/27/2003 5,661.54 0415/2003 963.08 0.00 295 .00 Cohu Inc. 5,555.08 10/27/2003 5,633.20 0&'0712003 (78 .12) 0.00 210.00 AMERICAS CAR-MART INC 6,279.10 1 Or,', r1003 6,188.93 009/2912003 90.17 0.00

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Driehaus Capital Management Friday January 23, 2004 16:49:46 Page 28 Gains and Loss Reportfron: 1110112002 to 1013112003

Account: 06056519 -- RHD FOUNDATION- ALLCAP

Sale Purchase Realized Unamortized Bond Ouantit Security Description Proceeds Date Cosl Date Gain (- Loss) Premium Discount)

349.00 Epix Medical 6,28899 10127/2003 6,727.04 0910812003 (438.05) 0.00 153.00 Gtech Holdings Corp. 6,682.93 10/27/2003 6,120.00 07/15/2003 56293 0.00 703.00 Harns Interactive. Inc. 4,477.19 10/27/2003 4.885 .85 0&11212003 (40866) 0.00 690.00 Labor Ready Im 7,051.74 10127/2003 5,716.24 08/07/2003 1,335.50 0.00 468.00 Maxtor Group 6,252.18 10/27/2003 7,049.25 10115/20CU (797.07) 0.00 281 .00 Orbotech Ud. ADR 6,248.58 10/27/2003 6,543.51 09/0812003 (29493) 0.00 840.00 QUICKLOGIC CORP 3,89833 10/27/2003 5,997.60 08118/2003 (2,09927) 0.00 198.W Royal Caribbean Cruises 5,999.11 10/27/2003 5,579.11 08/07/2003 42000 0.00 223.00 Sonic Automotive Inc. 5,886.92 10/27/2003 5,711 .83 08/12/2003 175 .09 0.00 795.00 Sipex Corporation 6,69223 10127/2003 6,836.60 09/04/2003 (144.37) 0.00 197.00 Stratasys Inc 10,223 .82 10/27/2003 5,086.54 05/0612003 5,137.28 0.00 1 .007.00 ValueClick, Inc. 8,807.81 10/27/2003 5,649.27 06110/2003 3,15854 0.00 634.00 Expressjet Holdings Inc 9,160.86 10/27/2003 8,95582 06124/2003 205 04 0.00 131.00 Hams Interactive, Inc. 817.19 10/2&12003 91045 08/12/2003 (93 .26) 0.00 GAINS ONLY Total 468,547 .11

LOSSES ONLY Total (273,242.19)

STOCK - Short Term 5,027,587.21 4,832,282 .27 195,304 .92

1.00 Cash to Ueu - Long Term 17.82 02/20/2003 0.00 02/20/2003 17.82 0.00 172-00 Phannaceutical Resources, Inc. 9,108.50 08/07/2003 4,707.64 08101/2002 4,400.86 0.00 16-00 Pharmaceutical Resources. Inc. 842.53 08/08/2003 437.92 08/01/2002 404.61 0.00 163-00 Amazon.Com Inc. 6,279.34 08/1212003 2,42870 07123/2002 3,850.64 0.00

GAINS ONLY Total 8,673.93

LOSSES ONLY Total 0.00

STOCK - Long Term 16,248.19 7,574.26 8,673.93

Grand Totals 5,043,835.40 4,839,856.53 203,978 .85 Driehaus Capital Management Friday January 23, 2004 16:44:47 Page I Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantit Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

147.00 American Pharmaceutical Part 2,790.22 11/0112002 2,465.69 09/25/2002 324 .53 0.00 142.00 Immucor Inc. 3,074.20 11/01/2002 1,590.06 05/14/2002 1,484.14 0.00 535.00 Ebookers.com pic-spons ADR 5,296.33 1 I/Olf2OO2 5,216.25 06/07/2002 8008 000 182.00 Eresearch Technology Inc. 2,557.02 11/01/2002 2,918.12 07102/2002 (361 .10) 0.00 334-00 Hurricane Hydrocarbons-Cl. A 3,723.98 11/01/2002 3,48611 02/19/2002 237 .87 0.00 126.00 J2 GLOBAL COMMUNICATIONS INC 3,39559 11/01/2002 2,975.58 08/21/2002 42001 000 817 .00 Lexar Media Inc. 3,192.07 11/01/2002 4,08180 07/15/2002 (889 .73) 0.00 2,058.00 Safenet Inc. 33,737 .83 11/01/2002 37,047 .91 07/23/2002 (3,31008) 0.00 5,891.00 Safenet Inc. 96,574.13 11/01/2002 106,53461 07129/2002 (9,960 .48) 0.00 3,061.00 Safenet Inc. 50,180.51 11/01/2002 59,997 .44 08/2012002 (9,816.93) 0.00 399.00 Ultra Petroleum Corp ADR 3,315.58 11/01/2002 2,731.63 0212&-2002 583 .95 0.00 3,836.00 Safenet Inc. 70,40956 11/04/2002 69,055 .29 07/2312002 1,35427 0.00 3,912.00 Hurricane Hydrocarbons-C]. A 42,65006 11/05/2002 40,72127 02/1512002 1,928-79 0.00 2,105.00 Hurricane Hydrocarbons-Cl. A 22,949 .48 11/05/2002 21,970.85 02/19/2002 97863 0.00 4,197.00 WRIGHT MEDICAL GROUP INC 71,74679 11/05/2002 82,57597 03/28/2002 (10,829 .18) 0.00 865.00 Merit Medical Systems Inc. 18,255 .62 11/0712002 17,588.82 09f25/2002 66680 0.00 1,708.00 Merit Medical Systems Inc. 36,04693 11/07/2002 34,615.01 1010212002 1,431.92 0.00 370.00 Sra International Inc-cl A 9,112.71 11/08/2002 9,651.89 08/2012002 (539 .18) 0.00 1,421 .00 Sra International Inc-cl A 34,997 .74 1 I/O8f2OO2 37,70211 08/21/2002 (2,704 .37) 0.00 2,001.00 Sra Intemational Inc-cl A 49,282 .54 11/08/2002 56,122.05 08/23/2002 (6,839 .51) 0.00 2,326.00 J2 GLOBAL COMMUNICATIONS INC 53,503 .82 11/11/2002 54,143.93 08/20/2002 (640 .11) 000 715.00 J2 GLOBAL COMMUNICATIONS INC 16,446.79 11/11/2002 16,885.23 08/21/2002 (438-44) 0.00 75600 J2 GLOBAL COMMUNICATIONS INC 17,38989 11/11/2002 16,95663 08/23/2002 433 .26 0.00 883.00 J2 GLOBAL COMMUNICATIONS INC 20,222 .46 11/12/2002 19,805 .16 08/23/2002 417 .30 0.00 643.00 Anteon Intemational Corp 14,992.44 11/13/2002 18,005.54 10/02/2002 (3,013 .10) 000 1,304.00 Anteon International Corp 30,404.57 11/13/2002 37,134.92 10/15/2002 (6,730 .35) 0.00 2,324.00 American Pliarm2ceutical Part 43,200.69 11/13/2002 38,379.70 09/17/2002 4,820.99 0.00 1,88600 American Pharmaceutical Part 35,058 .74 11/1312002 31,634.63 09125/2002 3,424.11 0.00 5,799.00 Altiris Inc 69,032.43 11/13/2002 66,312.14 09/1612002 2,720-29 000 81800 Altiris Inc 9,737.63 11/1312002 8,875.22 09/17/2002 862 .41 0.00 29.00 Altiris Inc 345 .22 1111312002 314.40 10/15/2002 30.82 0.00 1,069.00 Altins Inc 12,725 .59 11/1312002 11,887 .49 1011612002 838 10 000 8,191.00 Cray,Inc 54,618 .28 11/13/2002 36,160.88 07/0212002 18,457 .40 0.00 3.793.00 Cray, Inc 25,292 .04 11/13/2002 17,283 .26 07/03f2OO2 8,008.78 000 557.00 Cray, Inc 3,714.12 Il1l3f2002 2,546.67 07/05/2002 1,167.45 0.00 9,600.00 Cray, Inc 64,013 .61 11/13/2002 42,72402 07/0812002 21,289-59 0.00 2,783.00 Eresearch Technology Inc. 32,643 .59 11/13/2002 44,621 .51 07/02/2002 (11,977.92) 0.00 5,31100 Fidelity Nad Info Solutions 114,395 .48 11/13/2002 107,09685 OY2012002 7.29863 0.00 2,311.00 Hurricane Hydrocarbons-Cl. A 21,91609 11/13/2002 23,618 .42 02/13f2OO2 (1,702 .33) 0.00 5,051.00 Hurricane Hydrocarbons-Cl. A 47.900.56 11/1312002 51,973-13 02/1412002 (4,072.57) 000 2.963.00 Hurricane Hydrocarbons-Cl. A 28,099 .26 11113/2002 30,842 .82 02/15/2002 (2.743.56) 0.00 .1C .M- J2 ICILOBAL COMMUNICATIONS INC 124 .00 11/13/2002 126.78 07/29/2002 (2 .78) 0.00

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Dfiehaus Capital Management Friday January 23, 2004 16:44:47 Page 2 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount) 3,109.00 J2 GLOBAL COMMUNICATIONS INC 64,253 .00 11/13/2002 69,733 .00 08/23/2002 (5,480.00) 0.00 8,369.00 Lexar Media Inc. 35,352 .00 11/13/2002 40,350.81 07/08/2002 (4,998 .81) 0.00 9,749.00 Lexar Media Inc. 41,181 .34 11/1312002 48,70682 07/15/2002 (7,525 .48) 0.00 55.00 Pricesmart Inc 1,350.48 11/13/2002 2,20000 04/24/2002 (849.52) 0.00 772.00 Sra International Inc-cl A 20,255 .89 11/13/2002 20,138 .55 08120/2002 117 .34 0.00 3.523-00 Lendingtree Inc. 39,562.08 11/13/2002 46,262.27 04103/2002 (6,700.19) 0.00 622.00 Lendingtree Inc. 6,984.85 11/13/2002 8,162.94 07/08/2002 (1,178 .09) 0.00 366.00 Ultra Petroleum Corp ADR 2,961.83 11/13/2002 2,505.70 02/29/2002 456.13 0.00 8,349.00 Vitalworks Inc 23,509.33 11/13/2002 46,550 .52 01/2312002 (23,041 .19) 0.00 291-00 Anteon International Corp 6,584.95 11/14/2002 8,148.70 1010212002 (1,563.75) 0.00 435.00 Anteon International Corp 9,943.49 11/14/2002 12,132 .85 10(03/2002 (2,289.36) 0.00 293.00 Amencan Pharmaceutical Part 5,464.28 11/1412002 4,838.75 09/17/2002 625.53 000 90.00 Amencan Pharmaceutical Part 1,678.45 11/14/2002 1,472.13 09/24/2002 206 .32 0.00 964.00 Eresearch Technology Inc. 11,426.91 11/14/2002 14,594 .38 06/10/2002 (3,167.47) 0.00 1,311.00 Eresearch Technology Inc. 15,540.12 11/14/2002 21,020 .05 07/0212002 (5,479.93) 0.00 1,070.00 Eresearch Technology Inc. 12,683 .39 11/14/2002 16.461 .42 07/1712002 (3,778.03) 0.00 1,778.00 Hurncane Hydrocarbons-Cl . A 17,056.72 11/14/2002 18,171 .16 02/13/2002 (1.114 .44) 0.00 4,573.00 Lexar Media Inc. 20,475 .29 11/14/2002 22,048 .54 07/08/2002 (1,573 .25) 0.00 4,790.00 Lexar Media Inc. 21,446.89 11/14/2002 23,104 .98 07/12/2002 (1,658.09) 0.00 68.00 Pricesmart Inc 1,668.93 11/14/2002 2,720.00 04/24/2002 (1,051 .07) 0.00 504.00 Sra International Inc-cl A 13,093 .87 11114/2002 12,797 .11 08/19/2002 296.76 0.00 24000 Sra International Inc-cl A 6,235.18 11114/2002 6,26069 08/20/2002 (25 .51) 0.00 653 .00 Ultra Petroleum Corp ADR 5,367.19 If/14/2002 4,306.67 02/20/2002 1,06052 0.00 8,610.00 Ultra Petroleum Corp ADR 70,768 .00 IIIIV2002 58,945 .60 02128/2002 11,822.40 0.00 1,994.00 Vitalworks Inc 5,664.65 11114/2002 10,894 .08 01/17/2002 (5,219 .43) 0.00 2,180.00 Vitalworks Inc 6,193.05 11/14/2002 12,134 .20 01/1&'2002 (5,941 .15) 000 6,44600 Vitalworks Inc 18,312 .11 11/14/2002 35,364 .03 01/22/2002 (17 .051 .92) 000 2,308.00 Vitalworks Inc 6,556.68 11/1412002 12,868 .44 01/23/2002 (6,311 .76) 0.00 882-00 Amencan Pharmaceutical Part 16,531 .88 11/15/2002 14,199 .32 09/18/2002 2,332.56 0.00 264.00 American Pharmaceutical Part 4,948.32 11/15/2002 4,226.59 09/19/2002 721 .73 0.00 1,612.00 American Pharmaceutical Part 30,214.73 11/15/2002 26,367.48 09/24/2002 3,847.25 000 205 .00 Priccsmart Inc 5,013.59 11/15/2002 8,200.00 04/24/2002 (3,18641) 0.00 423 .00 Pricesmart Inc 10,406.75 11/1812002 16,920 .00 04/2412002 (6,513 .25) 0.00 1,025.00 Aceto Corp. 15,425 .78 11/19/2002 13,872 .35 11/13/2002 1,55343 0.00 18500 Aceto Corp 2,794.16 11/19/2002 2,505.60 11/14/2002 278 .56 000 394-00 AMERIGROUPCORP 12,71002 11/19/2002 12,165 .62 09/26f2002 54440 0.00 1,293.00 AMERIGROUPCORP 42,797 .00 11/19/2002 40,98810 10/1512002 1,808.90 0.00 1,746.00 Anteon International Corp 35,791 .92 11/19/2002 43,816 .92 09/2412002 (8,025 .00) 0.00 1 .048.00 Anteon Intemational Corp 21,483 .35 11/19/2002 27,208 .49 09125/2002 (5,725 .14) 0.00 1,397.00 Anteon International Corp 28,637 .63 11119/2002 38,126.92 09t26/2002 (9,489 .29) 0.00 725-00 Anteon International Corp 14,862 .05 11/19/2002 20,221 .41 10/03/2002 (5,359 .36) 0.00 54000 Anteon International Corp 11,069 .66 11/19/2002 15,035.98 1 Ot 16/2002 (3,966 .32) 0.00 D,riehaus Capital Management Friday January 23, 2004 16:44:47 Page 3 Gains and Loss Repoftfrom 1110112002 to 1013112003 Account: 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Descrintion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

2,297.00 American Pharmaceutical Part 43,287 .03 11/1912002 35,514 .15 09/30/2002 7,77288 0.00 4,174.00 Amencan Pharmaceutical Part 78,659 .15 11/19/2002 66,753 .53 09/11/2002 11,905 .62 000 71600 American Pharmaceutical Part 13,493 .04 11/1912002 11,355 .76 09/12/2002 2,137.28 0.00 268 .00 American Pharmaceutical Part 5,050.47 11/19/2002 4,290.63 0911912002 759.84 0.00 3,781.00 Eresearch Technology Inc. 41,48348 11/19/2002 57,242 .07 06/1012002 (15,758 .59) 0.00 2.33900 Jos A Bank Clothiers Inc 58,941 .01 11/19/2002 55,856 .72 11/05/2002 3,084.29 000 1,596.00 Ment Medical Systems Inc. 32,506 .02 11/1912002 29,797 .32 09/2412002 2,70870 0.00 2,480.00 Ment Medical Systems Inc. 50,51061 11/1912002 50,26067 10t0212002 24994 000 85.00 Odyssey Healthcare Inc. 2,966.52 11/19/2002 2,448.00 09/24/2002 518.52 0.00 1,558.00 Odyssey Healthcare Inc. 54,374 .58 11/19/2002 50,43838 10/0212002 3,936.20 0.00 14.00 Pricesmart Inc 345 .08 11/1912002 560 .00 04124/2002 (214.92) 000 1,788.00 Lendingtree Inc. 19,865 .86 11/19/2002 20,856 .84 03/15/2002 (99098) 0.00 2.931 .00 Lendingtree Inc. 32,565 .35 11/19/2002 38,465 .56 07/0812002 (5,90021) 000 2,631.00 Vitalworks Inc 8,304.72 11/19/2002 14,238 .06 12127/2001 (5,933 .34) 0.00 4,138.00 Vitalworks Inc 13,061 .55 11/19/2002 22,14223 01/1612002 (9,08068) 0.00 3,858.00 Vitalworks Inc 12,177 .74 11/19/2002 21,058 .56 0111712002 (8,880.82) 0.00 33.00 Aceto Corp. 496.97 11/20t2002 446 .62 11/13/2002 50.35 0.00 1,850.00 AM ERIGROUP CORP 59,975 .18 1 I/20t2002 58,610.41 09f2&2002 1,364.77 0.00 3,964.00 Eresearch Technology Inc. 44,188 .54 11/20(2002 60,012 .58 06110/2002 (15,824.04) 0.00 7~5 .00 Eresearch Technology Inc. 8,750.76 11120/2002 11,524 .39 07/1612002 (2,77363) 0.00 1,198.00 Ment Medical Systems Inc. 24.422.53 11/20/2002 22,366.66 09/2412002 2,05587 000 454.00 Pricesmart Inc 11,186 .22 11/20/2002 18,160.00 04124/2002 (6,973 .78) 0.00 732.00 Aceto Corp. 11,175 .98 11121/2002 9,906.89 11/13/2002 1,269.09 0.00 3,929.00 Eresearch Technology Inc. 44,458 .42 11/21/2002 57,68069 0711 &2002 (13,222.27) 0.00 256.00 Pricesmart Inc 6,356.00 11/2112002 10,24000 04124/2002 (3,884.00) 0.00 808.00 Aceto Corp . 11,408 .61 11/22/2002 10,935 .47 11/13/2002 473.14 0.00 169.00 Pricesmart Inc 4,194.45 11/2212002 6,683.95 04/23/2002 (2,489.50) 0.00 90.00 Pricesmart Inc 2,233.73 11/22/2002 3,600.00 04r24/2002 (1,36627) 0.00 2,193.00 Aceto Corp . 30,744.92 1112512002 29,68006 11/13/2002 1,064.86 0.00 503 .00 American Pharmaceutical Part 10,273 .01 11/25/2002 7,776.93 08/30/2002 2,496.08 0.00 1,012.00 American Pharmaceutical Part 20,668 .56 11125/2002 15,432.90 09/0412002 5,235.66 0.00 3,498.00 Immucor Inc. 82,020.02 11/25/2002 31,890.57 03/1512002 50,129 .45 0.00 3,603.00 ImmucorInc. 84,482.03 11/25/2002 33,435 .84 03/20t2002 51,046 .19 0.00 141.00 ImmucorInc. 3,306.12 11/25/2002 1,578.86 05/14/2002 1,727.26 0.00 4,763.00 J2 GLOBAL COMMUNICATIONS INC 117,768 .28 11/25/2002 100,642.19 07/29/2002 17,126 .09 000 1,571.00 32 GLOBAL COMMUNICATIONS INC 38,844.00 11/25/2002 30,438.91 09/13/2002 8,405.09 0.00 1,557.00 Odyssey Healthcare Inc. 52,235 .77 11/25/2002 30,63460 11129/2001 21,601 .17 0.00 1,339.00 Odyssey Healthcare Inc. 44,92209 11/25/2002 28,237 .50 11/3012001 16,684 .59 0.00 476.00 Odyssey Healthcare Inc. 15,969.32 11/25/2002 13,708.80 09/24/2002 2,260.52 0.00 5,662.00 Practiceworks Inc 36,254 .21 11/25/2002 74,04367 0312812002 (37,78946) 0.00 5,662.00 Practiceworks Inc 36,254.21 11/25/2002 73,838.14 04/01/2002 (37,583 .93) 0.00 1.6-A2.00 P-=ceworks Inc 10,513 .85 11/25/2002 21,354.54 0410212002 (10,840.69) 0.00

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Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 4 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantitv Secu ri ty Descrivtion Proceeds Date Cost Date Gain (- Loss) Premium Discount) 1,189.00 Practiceworks Inc 7,613.26 11/25/2002 15,720.24 04/0312002 (8,106.98) 0.00 1,788.00 Practiceworks Inc 11,448 .70 11/25/2002 25,391 .03 04/11/2002 (13,942.33) 0.00 824.00 Practiceworks Inc 5,276.13 11/25/2002 11,700.80 04/2412002 (6,424.67) 0.00 2,502.00 Practiceworks Inc 16,020 .50 11/25/2002 40,878.18 09/24/2002 (24,857.68) 0.00 20.00 Pficesmart Inc 497.52 1112512002 791.00 04/23/2002 (293.48) 0.00 2,645.00 Sharper Image Corp. 51,128.42 11/25/2002 62,267.80 11/11/2002 (11,139.38) 0.00 696.00 Sharper Image Corp. 13,453 .83 11/25/2002 16,057.69 11/12/2002 (2,603.86) 0.00 3,340.00 Sharper Image Corp. 64,562.92 11/25/2002 77,488.00 11/13/2002 (12,925.08) 0.00 1,395.00 Tractor Supply Co 61,88033 1112512002 52,603.22 10/15/2002 9,277 11 0.00 1,395.00 Tractor Supply Co 61,880.33 11/25/2002 58,729.50 11/0512002 3,150.83 0.00 1,392.00 Tractor Supply Co 61,747.26 11125/2002 58,366.56 11/13/2002 3,380.70 0.00 19,575.00 Ultra Petroleum Corp ADR 163,217.90 11/25/2002 129,101.03 02120/2002 34,11687 0.00 4,166.00 United Therapeutics 70,278.29 11125/2002 71,284.84 09/20r2002 (1,006.55) 0.00 2,123.00 Vitalworks Inc 7,184.21 11/25/2002 11,360 .07 01/1&2002 (4,175.86) 0.00 5,844.00 VitalWOTks Inc 19,776.04 11125/2002 30,667.21 02/05/2002 (10,891.17) 0.00 2,834.00 Vitalworks Inc 9,590.23 11/25/2002 14,762 .27 02/06/2002 (5,172 .04) 0.00 3,362.00 W Holding Company 58,408.27 11/25/2002 62,129.76 09/21/2002 (3,721 .49) 0.00 869.00 W Holding Company 15,097 .20 11/25/2002 15,277 .54 09/17/2002 (180.34) 0.00 3,373.00 Aceto Corp. 46,883.27 11/26(2002 45,650.18 11/13/2002 1,233.09 0.00 285.00 American Phanmceudcal Part 5,714.79 11/2612002 4,23396 09/03/2002 1,480.83 0.00 1,549.00 American Pharmaceutical Part 31,060.38 11/2612002 23,62210 09/04/2002 7,438.28 0.00 3000 Pricesmart Inc 716.07 1112612002 1,186.50 04/23/2002 (470.43) 0.00 458.00 United Therapeutics 7,577.15 11/26/2002 7,565.61 09/13/2002 11.54 0.00 788.00 United Therapeutics 13,036.67 11/26/2002 13,483 .55 09120/2002 (446.88) 0.00 704.00 United Therapeutics 11,646.97 11/2612002 11,612 .48 10/02/2002 3449 0.00 2,493.00 W Holding Company 42,646.45 11/2612002 43,828.44 09117/2002 (1,181 .99) 0.00 5,580.00 Hub International Ltd 73,441 .25 11127/2002 99,090.20 10/1612002 (25,648.95) 0.00 2,789.00 Hub International Ud 36,707.46 11/2712002 50,16965 10123/2002 (13,462.19) 0.00 4,181 .00 Hub International 1Ad 55,028.29 11/27/2002 75,520.98 10/29/2002 (20,492.69) 0.00 29.00 Pricesmart Inc 697.16 11/27/2002 1,146.95 04/23/2002 (449.79) 0.00 1,676.00 Inimucor Inc. 38,328.96 11/2912002 15,279.76 03/15/2002 23,049.20 0.00 583.00 Jos A Bank Clothiers Inc 14,708 .65 11129/2002 12,334.18 10/1612002 2,37447 0.00 33.00 Jos A Bank Clothiers Inc 832.56 11129/2002 788.06 11/05/2002 44.50 0.00 2,510.00 4kids Entertainment Inc 60,028.10 11/29/2002 72,034.99 10/21/2002 (12,006.89) 0.00 1,674.00 4kids Entertainment Inc 40,034.67 11/29/2002 48,939.56 10/23/2002 (8,90489) 0.00 1,675.00 Kirkland inc 27,643.53 11/29/2002 26,232.18 1010212002 1,411 .35 0.00 4,33C.10 Lexar Media Inc. 30,827.05 11/29/2002 19,901.24 07/05/2002 10,925 .81 0.00 2,813.00 Lexar Media Inc. 20,026.90 11129/2002 13,287.92 07/09/2002 6,738.98 0.00 5,397.00 Lexar Media Inc. 38,423.46 11/29/2002 26,03290 07/12/2002 12,390.56 000 1 .00 Pricesmart Inc 24.39 11/29/2002 39.55 04/23/2002 (15.16) 000 2,810.00 United Online Inc 44.733.84 11/29/2002 34,031 .09 05/1612002 10,702.75 0.00 1,352.00 American Healthways Inc. 28,472.26 12/0212002 25,834.29 1 Ot 15/2002 2,637.97 0.00 Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 5 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

1,45000 American Healthways Inc. 30,536.07 12102/2002 29,61016 10/23/2002 925.91 000 798 .00 Alaris Medical Inc 5,310-52 12/02/2002 5,026.33 11/04/2002 28419 0.00 820.00 Amencan Pharmaceutical Part 15,618 .98 12102/2002 12,123 .95 Oa/23/2002 3,494.93 0.00 415 .00 American Pharmaceutical Part 7,90468 12/02/2002 6,165 24 09/03/2002 1,739.44 0.00 283 .00 Altins Inc 3,817.86 12102/2002 3,900.73 11125/2002 (8287) 0.00 2,784.00 Immucor Inc. 62,920-67 12/02/2002 25,381 .17 03/15/2002 37,539 .50 000 180.00 Computer Programs & Systems 4,759.05 12/0212002 4,703 15 12/0212002 55.90 0.00 93000 Cray, Inc 6,415.41 12/0212002 4,105.68 07/02/2002 2,309.73 0.00 696 .00 Cray,lnc 4,817.28 12/02/2002 2,953.86 06/10/2002 1,863.42 0.00 7,210.00 Cray, Inc 49,903 .16 12/02/2002 31,83005 07/0212002 18,073 .11 0.00 569 .00 Cyberonics; 9,303.04 1210212002 10,633 .02 Oa/30/2002 (1,329.98) 0.00 1,976.00 Cyberonics 32,307 .21 12/02/2002 37,247 .60 09/17/2002 (4,940.39) 0.00 309 .00 Ebookers corn plc-spons ADR 3,661.53 12/0212002 3,01275 06107/2002 648 .78 0.00 6,257.00 Headwaters Inc 96,866 .06 12102/2002 104,169 .04 04/12/2002 (7,302.98) 0.00 1,760.00 Jos A Bank Clothiers Inc 43,382 .68 1210212002 37,235 .26 10/16/2002 6,147.42 0.00 838.00 4kids Entertainment Inc 20,779 .93 12/02/2002 24,049 .93 10/21/2002 (3,270.00) 0.00 2.509.00 4kids Entertainment Inc 62,215 .80 12102/2002 67,547 .80 10129/2002 (5,332.00) 0.00 1,480.00 Kirkland inc 25,642.00 12102/2002 23,178 .28 10/02/2002 2,463.72 0.00 3,427.00 Lexar Media Inc. 25,978-37 12/0212002 14,247 .84 0710312002 11,730.53 0.00 2,704.00 Lexar Media Inc. 20,497 .67 12/02/2002 12,427 .93 07/05/2002 8,069.74 0.00 2,374.00 Looksmart Ltd 6,219-88 12/02/2002 6,495.98 02/0112002 (276 .10) 0.00 145 .00 Looksmart Ltd 379.90 12/02/2002 377 .75 02104/2002 2.15 0.00 1,091.00 Netease com Inc. ADR 10,058 .71 1210212002 3,897.94 09/2512002 6,160.77 000 308.00 Neoware Systems Inc 5,728.68 12/02/2002 4,517.37 Oa/1212002 1,211.31 0.00 5.00. Pricesmart Inc 123.24 12102/2002 197 .75 0412312002 (74.51) 0.00 106 .00 Blue Rhino Corp. 2,096.28 12/0212002 1,550.09 09/11/2002 546.19 000 414.00 Talk America Holdings Inc. 3,172.92 12/02/2002 4,896.07 07/08/2002 (1 .723 .15) 000 317.00 Talk America Holdings Inc. 2,435.67 12/02/2002 3,515.72 07/0212002 (1,080.05) 0.00 2,569.00 Talk America Holdings Inc. 19,738 .88 12102/2002 30,381 .66 07/08/2002 (10,642.78) 0.00 4,971.00 Talk America Holdings Inc. 38,194-62 12/02/2002 55,679 .49 07/12/2002 (17,49487) 0.00 3,176.00 United Online Inc 51,012.63 12/0212002 38,463 .61 05/16/2002 12,549.02 0.00 27200 United Online Inc 4,36883 12/02/2002 3,294.11 05/1612002 1,074.72 000 207 .00 United Therapeutics 3,487.47 12/02/2002 3,414.46 1 Qf0212002 73 .01 0.00 1,2fn 00 United Therapeutics 21,22809 12/02/2002 20,707 .09 09/11/2002 521 .00 0.00 1,301.00 United Therapeutics 21,918-84 12/02/2002 21,137 .09 09/12/2002 781 .75 0.00 754.00 United Therapeutics 12,703 .16 12/0212002 12,238 .17 09/18/2002 464.99 0.00 615,00 United Ilerapeutics 10,361 .33 12/02/2002 10,144 .42 10/02/2002 216.91 0.00 526.00 United Therapeutics 8,861 .88 12102/2002 8,555.86 10/03/2002 306.02 0.00 1,745.00 United Therapeutics 29,399 .22 12/02/2002 28,365 .50 10/04/2002 1,033.72 0.00 19,451 .00 Cray, Inc 125,441 .58 12/03/2002 82,551 .06 06110/2002 42,89052 0.00 1,774.00 Cray,tnc 11,440.72 12/03/2002 7,542.10 0611112002 3,898.62 0.00 LOU Pricesmart Inc 23.82 .1 2/03!20n-2 39.55 04/23/2002 (15.73) 0.00

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Driehaus Capital Management Friday January 23, 2004 16.44:47 Page 6 Gains and Loss Reportfrom 1110112002 to 1013112003 Accourst: 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Descrii)tion Proceeds Date Cost Date Gain (- Loss Premium Discount)

7.00 Pricesmart Inc 167 .60 12/04/2002 27685 04/23/2002 (109 .25) 0.00 31 .00 Pricesmart Inc 738.31 12105/2002 1,226.05 04/23/2002 (487 .74) 0.00 2,048.00 J Jill Group Inc. 33,074 .19 12106/2002 49,868 .80 07/25/2002 (16,794 .61) 0.00 1 .00 Pricesmart Inc 2412 12/06/2002 39.55 04/2312002 (15 .43) 0.00 32 00 Pncesmart Inc 757.37 12/09/2002 1,265.60 04/2312002 (508 .23) 0.00 2,82400 Iminucor Inc. 64,524 .75 12/1012002 25,74584 03/15/2002 38.778.91 0.00 831 .00 Impac Medical Systems Inc 14,799 .66 12/10t2002 15,855 .48 11/22/2002 (1,055 .82) 000 74,+.00 3 Jill Group Inc. 10,170.17 12/10/2002 18,116.40 07/25/2002 (7,94623) 0.00 1,316.00 J Jill Group Inc. 17,989 .17 12/1012002 31,667.96 09103/2002 (13,678 .79) 000 2,400.00 Jos A Bank Clothiers Inc 54,975 .61 12/1012002 50,775 .36 1011612002 4,200.25 000 1,680.00 Monolithic System Technology 22,005 .65 12/10/2002 19,876 .20 11/18/2002 2,129.45 000 4,587.00 Monolithic System Technology 60,083 .29 12/10/2002 55,593 .06 11/1912002 4,490.23 0.0() 48.00 Pricesmart Inc 1 .158.20 12/10/2002 1,898.40 04/23/2002 (74020) 0.00 2,431 .00 Safenet Inc. 57,540.03 12/1012002 56,913.11 11/19/2002 626.92 0.00 2,067.00 Safenet Inc. 48,92441 12/1(k(2002 55,859.23 11/2612002 (6,934.82) 0.00 2,119.00 Talk America Holdings Inc. 12,962 .92 12/1012002 19,302.45 06/1 Ot2OO2 (6,339 .53) 0.00 3,073.00 Talk America Holdings Inc. 18.798.99 12/1 (V2002 34,081 .37 07/02/2002 (15 .282 .38) 0.00 1 .282.00 Undingtree Inc. 16,409 .10 12/1012002 14,954 .40 03/15/2002 1,454.70 0.00 2.541 .00 Lendingtree Inc. 32,523 .81 12/10/2002 28,173 .08 03/18/2002 4,350.73 0.00 1,093.00 Impac Medical Systems Inc 19,323 .65 12/11/2002 20,854 .44 11/2212002 (1,530.79) 0.00 2,332.00 Impac Medical Systems Inc 41,228 .51 12/11/2002 44,447 .22 11/25/2002 (3,218 .71) 0.00 2,931 .00 MonoUthic System Technology 37,755 .11 12/11/2002 34,676 .87 11/18/2002 3,078.24 0.00 36.00 Pricesmart Inc 821 .49 12/11/2002 1,423.80 04/23/2002 (602.31) 0.00 946.00 Pricesmart Inc 20,757 .91 12/12/2002 35,806 .10 02115/2002 (15,048 .19) 0.00 35.00 Ncesmart Inc 768 .00 12/1212002 1,384.25 04123/2002 (616.25) 0.00 242 .00 Pricesmart Inc 5,299.63 12/13/2002 9,159.70 02/15/2002 (3,860.07) 0.00 798 .00 Pricesmart Inc 16,637 .79 12/17/2002 30,204 .30 02/15/2002 (13,56651) 0.00 837 .00 Scansource Inc 54,696.89 12/17/2002 60,933 .60 12/02/2002 (6,236.71) 0.00 2.790.00 American Healthways Inc. 48,613 .71 12/1812002 48,629 .70 10(11/2002 (15 .99) 0.00 43.00 American Healthways Inc. 749.24 12/1 V2002 821 .65 10/15/2002 (72.41) 0.00 2,906.00 American Pharmaceutical Part 48,848.38 12/18/2002 42,966 .08 0&'23/2002 5,882.30 0.00 6,605.00 Bruker Axs Inc 12,063 .74 1211812002 18,60346 11/25/2002 (6,539 .72) 0.00 2,222.00 Bruker Axs Inc 4,058.38 12/18/2002 6,382.86 11/29/2002 (2,324.48) 0.00 4,877.00 Boston Communications Gr 63,516.12 12/1 &'2002 72,047 .92 12/06/2002 (8,531 .80) 0.00 759 .00 Pricesmart Inc 15,680.46 1211812002 28,728 15 02/15/2002 (13,047 .69) 0.00 8900 Pricesmart Inc 1,838.68 12/18/2002 3,301 .90 03/04/2002 (1,463 .22) 0.00 233 .00 Pricesmart Inc 4,813.63 12/18/2002 8,803.32 03/05/2002 (3,989.69) 0.00 4.867.00 Blue Rhino Corp. 82,191 .41 12/18f2002 71,172 .57 09/11/2002 11,01884 0.00 2,776.00 Talk America Holdings Inc. 15,892.21 12/18/2002 25,287 .21 06110/2002 (9,395 .00) 0.00 1 .002.00 Bruker Axs Inc 1.717.43 12/1912002 2,822.21 11/25/2002 (1,104.78) 0.00 4,265.00 Bruker Axs Inc 7,310.21 12/1912002 11,873 .47 12/02/2002 (4,563 .26) 0.00 2,283-00 Boston Communications Gr 29,905.48 12/19/2002 32,087 .34 11/08/2002 (2,181 .86) 0.00 Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 7 Gains and Loss Reportfrom 1110112002 to .1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount) 2,091-00 Boston Communications Gr 27,390.43 12/19/2002 30,890.34 12/0612002 (3,499.91) 0.00 8800 Pricesmart Inc 1,831 .22 12/19/2002 3,190.00 02/27/2002 (1,358.78) 000 408-00 Pncesmart Inc 8,490.22 12/19/2002 14,83080 02/28/2002 (6,340 .58) 0.00 263.00 Pricesmart Inc 5,472.86 12/19/2002 9,55566 03/01/2002 (4,082.80) 000 378-00 Pricesmart Inc 7,865.94 12/1912002 14,02380 03/04/2002 (6,157-86) 000 651-00 Blue Rhino Corp. 11,106 .24 12/19/2002 9,519-90 09/11/2002 1,58634 000 850.00 Blue Rhino Corp. 14,501 .24 12/1912002 12,36368 09/12/2002 2,137.56 0.00 1,890-00 Talk America Holdings Inc. 11,042 .07 12119/2002 17,216.43 06110/2002 (6,174.36) 0.00 3,495.00 Talk America Holdings Inc. 20,419.07 12/19/2002 28,375 .10 09/0412002 (7,95603) 000 3,040-00 Bruker Axs Inc 5,018.18 12120/2002 8,468.42 11/21/2002 (3,45024) 0.00 1,013-00 Bruker Axs Inc 1,672.18 12/20/2002 2,82012 12/0212002 (1,147.94) 0.00 1,866-00 Talk America Holdings Inc. 10,811 .47 12120/2002 14.650-56 09/03/2002 (3,839 .09) 0.00 615-00 Talk America Holdings Inc. 3,563-27 12120/2002 4,993.04 09/0412002 (1,429.77) 0.00 3.00 Talk America Holdings Inc. 17.38 12/2012002 000 1011612002 17.38 000 3,004-00 Bruker Axs Inc 4,360.29 12/23/2002 7,988-71 11/20/2002 (3,628 .42) 0.00 37-00 Bruker Axs Inc 53.71 1212312002 103.07 11/21/2002 (49.36) 0.00 1,528-00 Bruker Axs Inc 2,217.88 12/23/2002 4,197.44 11122/2002 (1,979.56) 000 1 .00 Cash in lieu - Short Term 875 12123/2002 0.00 12123/2002 8.75 0.00 274.00 Boston Communications Gr 3,281 .76 01/02/2003 3,851.04 11/08/2002 (569.28) 0.00 197-00 Kos Pharmaceuticals Inc. 3,699.54 01/02/2003 4,722.09 11118/2002 (1,022.55) 0.00 304-00 Netease.com Inc. ADR 3,571 .89 01/02/2003 1,086.14 09125/2002 2,485.75 0.00 269.00 Overstock.com Inc 3,505.07 01/02/2003 4,140.29 12/02/2002 (635.22) 0.00 212.00 Blue Rhino Corp. 3,767.12 01/02/2003 3,083-65 09/12/2002 683.47 0.00 3.209-00 Ebookers .com pic-spons ADR 36,517.31 01/06/2003 31,287-75 06107/2002 5,229.56 0.00 1,160.00 Ebookers com pic-spons ADR 13,200 .40 01/0612003 11,196-69 06/1012002 2,003.71 0.00 2,184.00 Boston Communications Gr 27,115.28 01/07/2003 30,695 .90 11/0812002 (3,580.62) 0.00 607-00 Boston Communications Gr 7,536.16 01/0712003 8,164.15 11/11/2002 (627.99) 0.00 326-00 Boston Communications Gr 4,047.43 01/07/2003 4,389-52 11/12/2002 (342.09) 000 3,026.00 Boston Communications Gr 37,569.07 01/07/2003 39,679-33 11/19/2002 (2,110.26) 0.00 1 .446.00 Ebookcrs .com plc-spons ADR 15,786 .13 01/07/2003 11,915.04 05/3112002 3,871.09 0.00 2,04700 Ebookers .com plc-spons ADR 22,347.31 01/07/2003 16,683-05 06103/2002 5,664.26 000 375-00 Ebookers com pic-spons ADR 4,093.91 01/07/2003 3,044-89 06104/2002 1,049.02 0.00 2,385-00 Ebookers com plc-spons ADR 26,037.29 01107/2003 19,700.10 06(05/2002 6,337.19 0.00 2,806-00 Ebookers .com pic-spons ADR 30,633.39 01/07/2003 25,478 .48 06/06/2002 5,154.91 0.00 5,40600 Ebookers .com plc-spons ADR 59,017.86 01/07/2003 52,180.42 06tlO/2002 6,837.44 000 7,09 i 00 Monolithic System Technology 84,542.63 01/07/2003 80,267 .86 11/1512002 4,274.77 0.00 2,201-00 Monolithic System Technology 26,241 .48 01/0712003 26,040.19 11/1812002 201.29 0.00 4,007-00 Neoware System Inc 69,10382 01/07/2003 58,769.87 08/1212002 10,333.95 000 281-00 United Therapeutics 4,675.70 01/07/2003 4,536.01 09/16/2002 139.69 000 1,663.00 United Therapeutics 27,671 .48 01/07/2003 26,77646 09/17/2002 895.02 0.00 4,200.00 United Therapeutics 69,885.88 01/0712003 68,170.20 09/18/2002 1,715.68 0.00 1,986.00 Ebookers .com pic-spons; ADR 21,189.77 01/08/2003 16,125.72 06104/2002 5,064.05 0.00

0 0 0 0 a 0 0 do a Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 8 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Descriotion Proceeds Date Cost Date Gain G Loss) Premium Discount)

850.00 Ncoware Systems Inc 14,279.57 01/08/2003 11,67059 07/17/2002 2,608.98 0.00 1,09200 Ncoware Systems Inc 18,345 .04 01/0&'2003 16,016 .15 08/12/2002 2,32889 0.00 2,027.00 Neoware Systems Inc 35,093 .80 01/08/2003 26,323 .64 07/16r2002 8,770.16 000 11181.00 Ncoware Systems Inc 20,446 .86 01/08/2003 16,215 .25 07/17/2002 4,231.61 0.00 2,683.00 Neoware Systems Inc 46,581 .90 01/0912003 34,842 .78 07/16/2002 11,739.12 0.00 1,212.00 'Me Bombay Company Inc. 6,302.20 01/1012003 6,641 .70 01/0912003 (339 .50) 0.00 512.00 Cray, Inc 3,829.64 01/10/2003 2,176.75 06/1112002 1,652.89 0.00 460.00 Inspire Pharmaceuticals Inc 4,535.46 01/1012003 4,54692 01/07/2003 (11.46) 0.00 1.537.00 Looksmart Lid 5,045.96 01/10/2003 4,004.13 02/04/2002 1,041.83 000 68000 Select Comfort Corp. 7,744.96 01/10(2003 7,650.20 01/07/2003 94.76 0.00 305 .00 Sohu com Inc. 2,333.18 01/10/2003 1,94081 11/18/2002 392.37 0.00 361 .00 Sohu com Inc. 2,761 .56 01/10/2003 2,198.49 11/29/2002 563.07 0.00 75.00 Sohu com Inc. 573 .73 01/10/2003 455 .54 12102/2002 118 .19 0.00 1.081.00 Surebearn Corp. 4,600.10 01/10/2003 5,017.42 10/29/2002 (417 .32) 0.00 1,382.00 UCBH Holdings Inc 61,290 .95 01/10/2003 59,149 .60 12/19/2002 2,141.35 0.00 1,385.00 UCBH Holdings Inc 61,424 .00 01/10/2003 62,338 .85 01/07/2003 (91485) 000 207.00 Verint Systems Inc 4,843.65 01/10/2003 4,762-74 01/07/2003 80 .91 0.00 1,944.00 Neoware Systems Inc 31,783 .43 01/1312003 25,245 .76 07/16/2002 6,537.67 000 2,775.00 Altins Inc 38,082 .38 01/1412003 38,249 .21 11/2512002 (166 .83) 0.00 893 .00 Boston Communications Gr 11,309 .50 01/14/2003 11,39307 10/2812002 (83 .57) 0.00 2,816.00 Boston Communications Gr 35,663 .56 01/14/2003 36,822.86 10/2912002 (1,159 .30) 000 1,06. 00 Boston Communications Gr 14,387 .00 01/14/2003 14,860.70 10/3012002 (473 .70) 0.00 182.00 Boston Communications Gr 2,304.96 01/1412003 2,380.43 11/1312002 (75 .47) 0.00 507 .00 Boston Communications Gr 6,420.96 01/14/2003 6,648.19 1111912002 (227 .23) 0.00 2,343.00 Cyberonics 41,081 .86 01/14/2003 43,78411 08/30/2002 (2,702 .25) 0.00 2,912.00 Cyberonics 51,058 .63 01/14/2003 52,619.84 09/03/2002 (1,561 .21) 000 3,193.00 Ebookers.com pic-spons ADR 33,999 .33 01/14/2003 24,475.84 05117/2002 9,523.49 000 931 .00 Ebookers.com pic-spons ADR 9,913.37 0111412003 7,533.56 05/20/2002 2,379.81 0.00 1,216.00 Ebookers .com pic-spons ADR 12,948.07 01/14/2003 9,873.56 0610412002 3,074.51 0.00 2,239.00 Hi-Tech Pharmacal Co. Inc. 58,189.84 01/14/2003 53,307 .01 12/17/2002 4,882.83 0.00 526.00 Hi-Tech Pharmacal Co. Inc. 13,670.33 01/1V2003 13,025-71 12119/2002 644.62 0.00 2,265.00 Neoware Systems Inc 38,188.78 01/1412003 27,932.81 07/09/2002 10,255 .97 0.00 4.639.00 Neoware Systems Inc 78,215.34 01/14/2003 57,656.74 07/12/2002 20,55860 0.00 508.00 Neowarc Systems Inc 8,565.08 01/1412003 6,597A4 07/1V2002 1,967.94 0.00 5,804.00 United Ontinc Inc 96,944.17 01/14/2003 104,736 .08 01/07/2003 (7,791 .91) 000 1,929.00 Allins Inc 26,445.79 01/15/2003 20,91287 10/15/2002 5,532.92 &00 2,100.00 Altins Inc 28,790.12 01/15/2003 28,945.35 11/25/2002 (155 .23) 0.00 2,339.00 Boston Communications Gr 28,914.60 01/15/2003 28,019 .11 10/23/2002 895 .49 0.00 1,935.00 Boston Communications Gr 23,920 .38 01/15/2003 24,039 .28 I01M002 (11890) OM 2,369.00 Boston Communications Gr 29,285 .46 01/1512003 29,262.84 IG(25/2002 22 .62 0.00 374.00 Boston Communications Gr 4,623.37 01/15/2003 4,771 .57 10/2812002 (148 .20) 0.00 2,336.00 Ebookers .com plc-spons ADR 24,998 .64 01/15/2003 17,906 .53 05/1712002 7,092.11 0.00 Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 9 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Less) Premium Discount)

1,797.00 Hi-Tecb Pharmacal Co. Inc. 47,205 .76 01/15/2003 42,78369 12/17/2002 4,422.07 0.00 2,095.00 Neoware Systems Inc 35,769.99 01/1512003 25,836.30 07/0912002 9,933.69 0.00 2,074.00 Brass Eagle Inc. 17,089.23 01/1512003 19,682.26 12/17/2002 (2,593 .03) 0.00 848.00 Ebookers .com plc-spons ADR 9,242.91 01/1612003 6,500.32 05/17/2002 2,74259 000 1,42000 Ebookers .com plc-spons ADR 15,481-08 01/17/2003 10,884.96 05/17/2002 4,596.12 0.00 140 .00 Ebookers com plc-spons ADR 1,526.30 01/17/2003 1,064.00 05/30/2002 46230 0.00 2,788.00 Neoware Systems Inc 47,812.75 01/1712003 34,382.63 07/09/2002 13,430 .12 0.00 2,524.00 Neoware Systems Inc 43,539.70 01/17/2003 31,126 .89 07/09/2002 12,412 .81 0.00 4,274.00 Neoware Systems Inc 73,727.68 01/17/2003 51,749.59 07/11/2002 21,978 .09 0.00 143 .00 Brass Eagle Inc. 1,159.69 01/1712003 1,35707 12/17/2002 (197 .38) 0.00 134 .00 Brass Eagle Inc. 1,086.71 01/17/2003 1,265.23 12/1912002 (178.52) 0.00 2,530.00 Immucor Inc. 49,470.12 0 1/2 1 f2003 63,178 .65 01/14/2003 (13,708.53) 0.00 1,448.00 Ebookers com plc-spons ADR 15,924.47 01/21/2003 1 I .OD4 .80 05/3(V2002 4,91967 0.00 3.340.00 Pacific Sunwear Cal 60,619.16 01/21/2003 55,084 .85 11/11/2002 5,534.31 0.00 354.00 Verint Systems Inc 7,423.16 01/21/2003 5,942.39 11/27/2002 1,480.77 0.00 2,408.00 Vennt Systems Inc 50,494.23 01/2112003 55,404 .23 01/0712003 (4,910.00) 0.00 1.383.00 Vennt Systems Inc 29,ODO .63 01121/2003 31,517 .19 01/09/2003 (2,516.56) 0.00 967.00 Ebookers .com pic-spons ADR 10,461 .56 01/2212003 7,155.80 05/29/2002 3,305.76 0.00 1,231 .00 Ebookers .corn plc-spons ADR 13,317.66 01/22/2003 9.355 .60 05/3012002 3,962.06 0.00 1,024.00 Ventana Medical Sys Inc 21,759 .34 01/2212003 24,954 .88 12127/2002 (3,195 .54) 0.00 1,665.00 Vennt Systems Inc 34,114.81 01/2212003 27,949 .36 11/2712002 6,165.45 0.00 276 .00 Brass Eagle Inc. 2,185.85 01/22/2003 2,605.99 12/18/2002 (420.14) 0.00 3,292.00 Ebookers .com pic-spons ADR 35,378 .70 01/23/2003 23,885 .29 05/16/2002 11,493 .41 0.00 724.00 Ebookers .com plc-spons ADR 7.78073 01123/2003 5,357.60 05129/2002 2,423.13 0.00 1,937.00 Ventana Medical Sys Inc 40,346 .48 01/23/2003 47,010.99 12/2612002 (6,664 .51) 0.00 637.00 Ventana Medical Sys Inc 13,268 .31 01/23/2003 15,523 .69 12/27/2002 (2,255 .38) 000 1,105.00 Brass Eagle Inc. 8,419.84 01/23/2003 10,433 .41 12/18/2002 (2,013.57) 0.00 553.00 Brass Eagle Inc. 4,092.07 01/24/2003 5,221.43 1211812002 (1,129 .36) 0.00 1,211 .00 Impac Medical Systems Inc 20,81246 01/27/2003 22,337 .38 11/21/2002 (1,524 .92) 000 876 .00 Impac Medical Systems Inc 15,055 .09 01/27/2003 16,696 .30 11125/2002 (1,641 .21) 0.00 13600 Brass Eagle Inc. 939.73 01127/2003 1,284.11 12/1812002 (344 .38) 0.00 360.00 Brass Eagle Inc. 2,48752 01/27/2003 3,351.31 12/19/2002 (863 .79) 0.00 886 .00 Brass Eagle Inc. 6,122.07 01/27/2003 8,263.63 12120/2002 (2,141 .56) 000 2,969.00 Connetics Corp. 38,314 12 01128/2003 42,362 .88 0 1/ 1 4r2003 (4,048 .76) 0.00 4,11000 Connetics Corp. 53,038 .41 01128/2003 58,935 .76 01/15/2003 (5,89735) 000 2,086.00 Connetics Corp. 26,919 .25 01/28/2003 29,37401 01/27/2003 (2,454 .76) 000 779.00 Impac Medical Systems Inc 13,491 .87 Olf2&-2003 14,368 .97 11/2112002 (877 .10) 0.00 3800 Vennt Systems Inc 682.82 01/28/2003 528 .33 11/19/2002 154.49 000 96400 Verint Systems Inc 17,322 .17 01/28/2003 14,178 13 11120/2002 3,14404 0.00 318.00 Vennt Systems Inc 5,714.16 01/28/2003 4,846.00 11/21/2002 868.16 0.00 2,57200 Vennt Systems Inc 46,21641 0 1/2&-2003 43,174 .62 11127/2002 3,041.79 O.OD 1,052.00 Brass Eagle Inc. 7, 1 07.93 Ol.r.9!2003 9,793.28 12/1 gt2()02 (2,685 .35) 000

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Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 10 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss Premium Discount)

9000 Brass Eagle Inc. 608.09 01/29/2003 830.70 12123/2002 (222.61) 0.00 954.00 Brass Eagle Inc. 6,510.28 01/30/2003 8,776.80 12/13/2002 (2,266.52) 0.00 187 .00 Brass Eagle Inc. 1,276.12 01/30/2003 1,726.01 12/2312002 (44989) 0.00 1,647.00 Looksmart Ltd 4,583.17 01/3112003 4,290.70 02/04/2002 292 .47 0.00 19,815 .00 Looksmart Ud 55,139 .92 OV3112003 51,191 .58 02/15/2002 3,948.34 0.00 19,562 .00 Looksmart Ltd 54,435 .89 01/31/2003 48,72177 02/19/2002 5,714.12 0.00 7,303.00 Looksmart [Ad 20,322 .32 01/31/2003 18,028.39 03/07/2002 2,293.93 0.00 29.809.00 Looksmart Ltd 82,950 .59 01/31/2003 73,235.17 11/2512002 9,715.42 0.00 918 .00 Brass Eagle Inc. 6,214.30 01/3112003 8,353.80 11/2612002 (2,139 .50) 0.00 225 .00 Brass Eagle Inc. 1,523.11 01/31/2003 2,047.50 11/27/2002 (524 .39) 0.00 1,418.00 Brass Eagle Inc. 9,599.00 01/31/2003 13,045 60 12/13/2002 (3,446 .60) 0.00 7,798.00 Ebookers .com pic-spons ADR 73,353 .47 02103/2003 56,578 .82 05/16/2002 16,774.65 0.00 2.767.00 Blue Rhino Corp. 40,259 .18 02103/2003 39,058 .99 09/10/2002 1,200.19 0.00 1,668.00 Blue Rhino Corp. 24,269 .00 02103/2003 24,261 .89 09/1212002 7.11 0.00 31,058 .00 Riverstone Networks Inc 61,766 .40 02/03/2003 89,947 .32 12/0212002 (28,180.92) 0.00 1,720.00 Brass Eagle Inc. 11,870.93 02/03/2003 15,643 .06 11/1812002 (3,772 .13) 0.00 556 .00 Brass Eagle Inc. 3,837.35 02/03/2003 4,898.36 11/19/2002 (1,061 .01) 0.00 243 .00 Brass Eagle Inc. 1,677.11 02/03/2003 2,126.25 11/20/2002 (449 .14) 0.00 695 .00 Brass Eagle Inc. 4,796.68 02/03/2003 6,122.95 11/21/2002 (1,326.27) 0.00 945 .00 Brass Eagle Inc. 6,522.11 0210312003 8,316.00 11/22/2002 (1,793 .89) 0.00 556 .00 Brass Eagle Inc. 3,837.35 02/03/2003 4,892.80 11/25/2002 (1,055 .45) 0.00 192.00 Brass Eagle Inc. 1,325.13 02103/2003 1,747.20 11/27/2002 (422.07) 0.00 1,110.00 Brass Eagle Inc. 7,660.89 02/03/2003 9,668.10 12/02/2002 (2,007.21) 0.00 549.00 Brass Eagle Inc. 3,789.03 02/03/2003 4,704.93 12104/2002 (915 .90) 0.00 277 .00 Brass Eagle Inc. 1,911.77 02/03/2003 2,382.20 12/0612002 (470-43) 0.00 942.00 Brass Eagle Inc. 6.501.40 02/03/2003 8,21650 12111/2002 (1,715.10) 0.00 609.00 Brass Eagle Inc. 4,203.14 02103/2003 5,528.08 12/12/2002 (1,324.94) 0.00 360.00 Brass Eagle Inc. 2,484.61 02/0312003 3,229.20 12/2612002 (744-59) 000 1,108.00 Brass Eagle Inc. 7,647.08 0210312003 9,872.28 12/27/2002 (2,225.20) 0.00 3,209.00 Cray,Inc 19.148.33 02/04/2003 13,642.96 06/11/2002 5,505.37 000 5,398.OD Cray,lnc 32,210.25 02/0412003 22,827.88 06/12/2002 9,382.37 0.00 2,183.00 Cray, Inc 13,026.12 02/04/2003 9,300.27 06/13/2002 3,725.85 0.00 9,110.00 Cray,lnc 54,36002 02104/2003 37,235.33 07/1112002 17,124.69 0.00 6,500.00 Ebookers .corn pic-spons ADR 63,175.25 02/04/2003 47,161 .11 05/16/2002 16,014.14 0.00 1,409.00 Ebookers .com plc-spons ADR 13,694.45 02/04/2003 10,11662 05/28/2002 3,577.83 0.00 1,929.00 Blue Rhino Corp. 27,042.80 02/04/2003 27,229 .78 09110/2002 (186.98) 0.00 67000 Select Comfort Corp. 7,243.40 0210412003 5,763.59 10129/2002 1,479.81 000 6,695.00 Select Comfort Corp. 72,379.90 02/04/2003 59,195 .51 11/05/2002 13,184.39 000 12,003.00 Select Comfort Corp. 129,764.89 02/0V2003 135,037 .27 01/07/2003 (5,27238) 0.00 47000 Select Comfort Corp. 5.081.19 02/04/2003 5,100.49 01/08/2003 (19 .30) 0.00 872.00 Verint Systems Inc 14,797.39 02104r2003 11,532 .11 11/14/2002 3,265.28 0.00 1,741 .00 Vennt Systems Inc 29,543.87 02/04/2003 24,205 .82 11/19/2002 5,338.05 0.00 Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 11 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

1,159.00 Brass Eagle Inc. 7.970.40 02/04/2003 9,805.95 11/11/2002 (1,835 .55) 0.00 1,392.00 Brass Eagle Inc. 9,572.73 02104/2003 11,798-59 11/1412002 (2,225 .86) 0.00 277-00 Brass Eagle Inc. 1,904.92 02/04/2003 2,36281 12103/2002 (457 .89) 000 283 .00 Brass Eagle Inc. 1,94618 02/04/2003 2,425.31 12/0412002 (479 13) 0.00 7,434.00 Cray, Inc 44,280.35 02/05/2003 29,789.34 06/21/2002 14,491 .01 0.00 5,246.00 Cray, Inc 31,247 .60 02/0512003 21,441 .99 07/11/2002 9,805.61 0.00 12.842.00 Openwave Systems Inc 14,769 .46 02/05/2003 39,569-39 11/29/2002 (24,799 .93) 000 25,680-00 Openwave Systems Inc 29,534.33 02105/2003 81,00008 12102/2002 (51,465 .75) 000 6,4;Z 00 Blue Rhino Corp . 91,301 .93 02105/2003 91,725.82 09110/2002 (423 .89) 0.00 1,432.00 Brass Eagle Inc. 9,869.90 02/05/2003 11,884.18 11/08/2002 (2,014 .28) 000 929.00 Brass Eagle Inc. 6,403.03 02/05/2003 7,859.99 11/11/2002 (1,456 .96) 0.00 6,368.00 Cray, Inc 38,421 .35 02/0612003 25,51769 06/21/2002 12,90366 0.00 8,583-00 Lexar Media Inc. 35,704 .62 02/06/2003 35,684.04 07/03/2002 20.58 0.00 192.00 Riverstone Networks Inc 347.79 02/06/2003 556-05 1210212002 (208 .26) 0.00 27,609-00 Riverstone Networks Inc 50,01166 02/06/2003 75,904.98 12/1012002 (25,893 .32) 0.00 2,783.00 Verint Systems Inc 41,622.67 02/0612003 36,165.09 11/13/2002 5,457.58 0.00 178.00 Verint Systems Inc 2,662.18 02/06f2003 2,354.03 11/14/2002 308.15 0.00 2,29500 Vennt Systems Inc 34,324.12 02/06/2003 30,106-96 11/1512002 4,217.16 0.00 2,745-00 Brass Eagle Inc. 18.980.81 02106/2003 22,780.77 11/08/2002 (3,799 .96) 0.00 19.00 Brass Eagle Inc. 131.38 02/06/2003 152-95 11/13/2002 (21 .57) 000 2,12300 Cray,Inc 12,977 .71 02/07/2003 8,507.23 06f2I/2002 4,47048 0.00 3,678-00 Lexar Media Inc. 15,392.11 02/0712003 15,291-38 07/0312002 100.73 000 31,256.00- Riverstone Networks Inc 55.928.08 02/07/2003 77,350-39 11/29/2002 (21,422 .31) 000 3,601.00 Riverstone Networks Inc 6,443.47 02/07/2003 9,900.17 12110/2002 (3,456 .70) 000 1,189.00 Computer Program & Systems 28,40708 02/10/2003 31,066.91 12/02/2002 (2,659 .83) 0.00 4,499.00 Connetics Corp. 58,42680 02/1112003 62,645-39 01/1012003 (4,218 .59) 0.00 3,338.00 Connetics Corp. 43,349.34 0211112003 46,67626 01/2212003 (3,326 .92) 000 1,438.00 Connetics Corp. 18,67476 02111/2003 20,222.88 OV2412003 (1,548 .12) 0.00 31.00 Connetics; Corp. 402.59 02/11/2003 436-53 01/27/2003 (33 .94) 0.00 1,570-00 Lexar Media Inc. 5,666.49 02/11/2003 6,189.22 07/02/2002 (522 .73) 0.00 9,461.00 Uxar Media Inc. 34,14694 02/11/2003 39,334.35 07103/2002 (5,187 .41) 0.00 1,660.00 United Online Inc 25,622.81 02/11/2003 20,103.78 05/16/2002 5,519.03 0.00 4,164.00 United Online Inc 64,273.13 02/11 t2003 46,345.32 05/23/2002 17,92781 0.00 57.00 United Online Inc 879.82 02/11/2003 1,028-59 01/0712003 (148 .77) 0.00 185.00 Computer Programs & Systems 3,98850 02112/2003 4,833.79 1210212002 (845 .29) 0.00 473 .00 Computer Programs & Systems 10,197 .62 02/12/2003 12,060.41 12/0312002 (1,862 .79) 000 13,904.00 Lexar Media Inc. 46,408 .51 02/1212003 54,812.07 07/0212002 (8,403 .56) 000 969 .00 Computer Programs & Systems 20.675.12 02/13/2003 24,707.27 12103/2002 (4,032 .15) 000 952.00 Computer Programs & Systems 20,312.40 02/13/2003 24,199-84 01/1412003 (3,887 .44) 0.00 1,419.00 United Online Inc 19,766 .07 02/13/2003 15,793 .47 05/23/2002 3,97260 0.00 2,398.00 United Online Inc 33,403 .12 02/13/2003 26,573 .20 05/28/2002 6,829.92 0.00 140.00 Computer Programs &- Systems 3,039.45 02/14/2003 3.502.88 09/06/2002 (463 .43) 0.00

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Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 12 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

2,710.00 Computer Programs & Systems 58,835 .02 02/14/2003 68,888 .20 01/14/2003 (10,053 .18) 000 8,933.00 Pnmus Telecommun Grp 17,312 .65 02/1412003 18,503 .14 12/3112002 (1,190 .49) 000 2,182.00 Biosite Diagnostic Inc 71,218 .32 02/18/2003 85,096 .91 01/15/2003 (13,878 .59) 0.00 736.00 Computer Programs & Systems 16,265 .10 02/1812003 18,415 .16 09/0612002 (2,150 .06) 0.00 69300 Energy Partners Ltd 6,969.27 02/18/2003 7,926.81 12/1812002 (957 .54) 0.00 5,10600 Energy Partners Ltd 51,349 .37 02/18/2003 57,805 .60 01/15/2003 (6,456 .23) 000 2,249.00 Energy Partners Ud 22,617 .46 02/18/2003 25,654 .79 01/16/2003 (3,037 .33) 0.00 2,098.00 ICON PLC. - Sponsored ADR 50,073 .75 02/18/2003 63,464 .50 01/14/2003 (13,390 .75) 0.00 10,579.00 Pnmus Telecommun Grp 20,760 .62 02/18/2003 21,912 .53 1213112002 (1,151 .91) 000 1,039.00 Select Comfort Corp. 9,60006 02118/2003 8,937.87 10/29/2002 66219 0.00 572 .00 Computer Programs & Systems 12,640 .81 02/19/2003 14,311 .78 09/0612002 (1,670 .97) 0.00 3,46300 Energy Partners Ltd 34,459.96 02/19/2003 38,623 .19 12/17/2002 (4,163 .23) 0.00 33.00 Energy Partners Ud 328.38 02/19/2003 367 .00 01/1412003 (38 .62) 0.00 894 .00 Energy Partners Ud 8,896.10 02119/2003 10,121 .07 01/15/2003 (1,224 .97) 0.00 1,363.00 Ufecell Corporation 3,171.38 02/19/2003 4,564.72 12/0212002 (1,393 .34) 0.00 3,640.00 Primus Teleconumm Grp 7,067.45 02/19/2003 7,539.62 12/31/2002 (472 .17) 0.00 1,361 .00 Select Comfort Corp. 12,425.69 02/19/2003 11,707 .83 10/29/2002 717 .86 0.00 776.00 Energy Partners Lid 7,935.44 02120/2003 8,629.97 01/14/2003 (694 .53) 0.00 521 .00 lifecell Corporation 1,151.58 02/20/2003 1 .73089 11/29/2002 (579 .31) 0.00 24.00 Wecell Corporation 53.05 02/2012003 8038 1210212002 (27 .33) 0.00 8,471 .00 Looksmart Ud 20,742.53 02/20/2003 20,893 .14 03/08/2002 (150 .61) 0.00 2,012.00 Looksmart I.Ad 4,926.69 02/2012003 3,800.41 11/05/2002 1,126.28 0.00 18,401 .00 Looksmart Ud 45.057.65 02/20/2003 39,967 .43 11/2012002 5,090.22 0.00 9,676.00 Looksmart Ud 23,693 .16 02/2012003 23,77213 11/25/2002 (78 .97) 0.00 4,254.00 Primus Telecommun Grp 8,269.51 02/20/2003 8,811 .41 12/31/2002 (541 .90) 0.00 1 .855.00 Select Comfort Corp. 16,88944 02/20/2003 15,95741 10/29/2002 932.03 0.00 937.00 Computer Programs & Systems 20,660.22 02/21/2003 23,444 .30 09/0612002 (2,784 .08) 0.00 42600 Computer Programs & Systems 9,39302 02121/2003 10,309 .20 11127/2002 (916 .18) 000 2,491 .00 Dov Pharmaceutical Inc 14,436.42 02121/2003 17,93128 12/26/2002 (3,494 .86) 0.00 441 .00 Energy Partners Ud 4,475.74 02/21/2003 4,784.60 01/07/2003 (308 .86) 0.00 24200 Energy Partners Lid 2,456.08 02/21/2003 2,691.31 01/14/2003 (235 .23) 0.00 312 00 Wecell Corporation 669.86 02/21/2003 1,036.54 11/29/2002 (366 .68) 0.00 1,76000 Ufecell Corporation 3,778.71 02/21/2003 5,716.86 12/03/2002 (1,938 .15) 0.00 2,216.00 Pnmus Telecommun Grp 4,269.14 02/21/2003 4,590.05 12131/2002 (320 .91) 0.00 682.00 Select Comfort Corp. 6,07466 02/21/2003 5,765.24 lGtl5/2002 309 .42 0.00 1,855-00 Select Comfort Corp 16,522 .72 02/21/2003 15,957 .41 10/29/2002 565 .31 0.00 84.00 Biosite Diagnostic Inc 2,692.11 02124/2003 3,275.96 01/15/2003 (58385) 0.00 15600 Computer Programs & Systems 3,45531 02124/2003 3,715.92 11/2612002 (260 .61) 0.00 2,351.00 Computer Programs & Systems 52,073 .31 02/2412003 56,894 .20 11/27/2002 (4,820 .89) 0.00 1.105-00 Wecell Corporation 2,293.48 02124/2003 3,589.28 12/03/2002 (1,295 .80) 0.00 4,73300 Looksmart LAd 12,320.64 02124/2003 8,428.15 10/25/2002 3,892.49 0.00 5,189.00 Looksmart Ud 13,507 .67 02124/2003 9,736.44 11/0412002 3,771 .23 0.00 Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 13 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount) 1,880.00 Looksmart Ltd 4,893.89 02/2412003 3,551.07 11/05/2002 1,342.82 0.00 4,204.00 Looksmart LAd 10,943 .58 02/2412003 7,693.33 11106/2002 3,25025 000 14,179.00 Looksmart lAd 36,909.85 02124/2003 25,669 .20 11/19/2002 11,240.65 0.00 2,495.00 Primus Telecommun Grp 4,837.81 OYM003 5,167.95 12/31/2002 (330.14) 000 636.00 Select Comfort Corp. 5,672.94 02/2412003 5,376.38 10/15/2002 296.56 0.00 5,794.00 Sohu com Inc. 50,82489 0212412003 33,074.41 11/15/2002 17,75048 0.00 232 .00 Sohu corn Inc. 2,035.10 02/24/2003 1,406.01 11/19/2002 62909 000 4,714.00 Sohu com Inc. 41,351 .14 02/24/2003 26,789.68 11/25/2002 14,561 .46 0.00 185 .00 Sohu com Inc. 1,622.82 02/24/2003 1,123.65 12/0212002 499.17 0.00 339.00 United Online Inc 4,983.78 02124/2003 3,756-59 05/28f2OO2 1,227.19 0.00 708.00 Computer Programs & Systems 15,646.32 02125/2003 16,489 .74 08/01/2002 (843.42) 0.00 955.00 Computer Programs & Systems 21,10486 02125/2003 22,748.10 11/26/2002 (1,643.24) 0.00 3,377.00 Ufecell Corporation 6,985.20 02125/2003 10,969 .22 12/03/2002 (3,98402) 000 2,286.00 Lifecell Corporation 4,728.50 02/25/2003 7,308.20 12/05/2002 (2,579 .70) 0.00 4,145.00 Looksmart lAd 9,897.02 02125/2003 7,381 .09 10/25/2002 2,515.93 000 15,533.00 Surebearn. Corp. 69,116.57 02/2512003 72,095 84 10/29/2002 (2,979 .27) 0.00 271 .00 Central European Distribution Corp . 7,083.72 0212612003 6,341 .40 01/15/2003 742.32 0.00 2,905.00 Inkine Pharmaceutical Co 4,32586 02/26/2003 7,094.89 11/2712002 (2,769 .03) 0.00 1.215.00 LAfecell Corporation 2,654.94 02/2612003 3,88418 12105/2002 (1,229 .34) 0.00 690.00 Netease .com Inc. ADR 9,183.14 02126/2003 2,465.24 09/2512002 6,717.90 0.00 335.00 Overstock.com Inc 4,653.44 0212612003 5,156.12 12102/2002 (502 .68) 0.00 446.00 Possis Medical Inc. 7,037.66 02/26/2003 9,063.70 02/O5f2OO3 (2,026 .04) 0.00 275.00 Portfolio Recovery Associate 6,621.79 02/2612003 5,238.75 12/10/2002 1,383.04 0.00 2.419.00 Primus Telecommun Grp 4,428.55 02/2612003 5,010.53 1213112002 (581 .98) 0.00 2,293.00 Select Comfort Corp. 20,243 .13 02/26/2003 19,383 .72 10115/2002 859.41 0.00 639.00 Biosite Diagnostic Inc 20,074.34 02127nOO3 24,920 .68 01/1512003 (4,846 .34) 000 946.00 Dov Pharmaceutical Inc 5,251.42 02127/2003 6,777.68 12124/2002 (1,52626) 0.00 1,107.00 Dov Pharmaceutical Inc 6,145.15 02/27/2003 7,968.66 12126f2002 (1,823 .51) 000 387.00 Lifecell Corporation 831 .67 02/2712003 1,237.22 12tO5/2002 (405.55) 0.00 2,593.00 Primus Telecommun Grp 4,479.84 02/27/2003 5,370.94 12131/2002 (891 .10) 000 522.00 United Online Inc 7,407.52 02/27/2003 5,78449 05128/2002 1,623.03 000 749.00 Biositc Diagnostic Inc 23,399.55 0212&'2003 29,21063 01/1512003 (5,811 .08) 000 5,293.00 LA)oksmart Ltd 11,207.36 02/28/2003 9,425.36 10125/2002 1,782.00 0.00 2,169.00 Primus Telecommun Grp 3,591.67 02/2&'2003 4,492.70 12/31/2002 (901 .03) 0.00 907 .00 United Online Inc 12,783 .50 02/28/2003 10,050 .83 05128/2002 2,732.67 000 493 .00 Alaris Medical Inc 4,07205 03/03/2003 3,770.37 02105/2003 301 .68 0.00 530.00 Ask Jeeves Inc 3,646.33 03/03/2003 3,763.53 02/2412003 (117.20) 0.00 2,798.00 Altins Inc 36,009.17 03/03/2003 25,195 17 08122nOO2 10,81400 0.00 3,182.00 Allins Inc 40,951 .09 03/0312003 33,945 .89 09/19/2002 7,005.20 0.00 894.00 Altins Inc 11,505.43 03/03/2003 9,692.12 10115/2002 1,813.31 0.00 2,759.00 Computer Programs & Systems 61.549.21 03/03/2003 64,258 .77 09/01/2002 (2,709.56) 0.00 162.00 Computer Programs & Systems 3,613.9-o 003,1003,12003 3,77308 08101/2(X)2 (159 .10) 0.00

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Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 14 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ovantit Security Description Proceeds Date cost Date Gain (- Less) Premium Discount) 109.00 Dov Pharmaceutical Inc 609.02 03/03/2003 78094 12/24/2002 (171 .92) 0.00 199.00 Kos Pharmaceuticals Inc. 3,231.16 03/03/2003 4,683.84 11/15/2002 (1,452 .68) 0.00 29.00 Kos Pharmaceuticals Inc. 47087 03/03/2003 695 .13 11/18/2002 (224 .26) 0.00 2,782.00 Ufecell Corporation 6,556.41 03/0312003 8,873.38 11/15/2002 (2,316 .97) 0.00 643.00 I,ifecell Corporation 1,515.37 03/0312003 2,055.63 12/05/2002 (540 .26) 0.00 22,842 .00 Looksmart lid 48,191 .03 03/03/2003 40,675 .22 10/25/2002 7,515.81 0.00 20,896 .00 Looksmart Ltd 44,085.45 03/03/2003 33,755 .81 1012912002 10,329.64 0.00 3,052.00 Looksmart Ltd 6,438.97 03/0312003 4,977.29 10/3012002 1,461.68 0.00 8,309.00 Looksmart 1Ad 17,529 .96 03/03/2003 13,862 .61 10/31/2002 3,667.35 0.00 7,394.00 Looksmart lid 15,599 .53 03/03/2003 12,773 .95 11/01/2002 2,825.58 0.00 2,217.00 Looksmart Ud 4,762.77 03/03/2003 3,581.39 10/2912002 1,181.38 0.00 351 .00 Nil Holdings Inc - Cl B 7,416.40 03/03/2003 7,285.22 02128/2003 131 18 0.00 1,586.00 Primus Tclecommum Grp 2,423.49 03/03/2003 3,285.12 12/31/2002 (861 .63) 0.00 2,504.00 Altins Inc 30,773.22 03/04/2003 22,547 .79 08/22/2002 8,225.43 0.00 975.00 Biositc Diagnostic Inc 31,140.56 03/04/2003 38,024.51 01/15/2003 (6,883 .95) 0.00 2,005.00 Biosite Diagnostic Inc 64,037.76 03/04/2003 77,953 .60 01/1612003 (13,915 .84) 0.00 1,982.00 Computer Programs & Systems 43,681 .96 03/04/2003 46,161 .97 Oa/01/2002 (2,480.01) 000 393 .00 Computer Programs & Systems 8,661.46 03/0412003 9,074.92 08/02/2002 (413 .46) 0.00 330.00 Computer Programs & Systems 7,272.98 03/04/2003 7,553.63 09/12/2002 (28065) 0.00 1,349.00 Computer Programs & Systems 29.731 .06 03/04/2003 30,891 .56 09/16/2002 (1,160.50) 000 192 .00 Dov Phannaceutical, Inc 1,092.17 03/04/2003 1,375.60 12/24/2002 (283 .43) 0.00 3,392.00 Lifecetl Corporation 8,202.51 03/04/2003 10,819.01 11/15/2002 (2,61650) 0.00 972.00 Ufecell Corporation 2,350.48 03/0412003 3,117.47 11/27/2002 (766 .99) 000 1,271 .00 Lifecell Corporation 3,073.52 03/04/2003 4,051.73 12/04/2002 (978 .21) 0.00 5,475.00 Orasure Technologies Inc 36,802.08 03/04/2003 45,919.46 02103/2003 (9,117 .38) 0.00 624.00 Primus Telecommun Grp 973.61 03/04/2003 1,292.51 1213112002 (318 .90) 0.00 2.372.00 Surebearn Corp. 9,747.49 03/0412003 9,673.77 10/21/2002 73.72 000 4,291.00 Surebeam Corp . 17,633.41 03/04/2003 19,916.52 1 Of29/2002 (2,283 .11) 0.00 234.00 United Online Inc 3,203.15 03/04/2003 2,593.05 05/28/2002 610.10 0.00 3,603.00 Altins Inc 42,975 .27 03/05/2003 32,443 .96 08/2212002 10,531 .31 0.00 1.290.00 Computer Programs & Systems 28,082.44 03/05/2003 28,509.00 08105/2002 (426 .56) 0.00 308 .00 Computer Programs & Systems 6,704.96 03/05/2003 7,050.06 09/1212002 (345 .10) 000 27.00 Dov Pharmaceutical Inc 150 .92 03/05/2003 193 .44 12/24/2002 (42 .52) 0.00 1.293.00 lifecell Corporation 2,879.59 03/05/2003 4,094.16 11/1812002 (1,214 .57) 0.00 11600 Ufecell Corporation 258.34 03/0512003 369.79 12/04/2002 (111 .45) 000 5,717.00 Orasure Technologies Inc 38,048.20 03/0512003 47,949.14 02/03/2003 (9,90094) 0.00 1,40600 Orasure Technologies Inc 9,357.32 03105/2003 11,252.26 0210412003 (1,89494) 0.00 4.37500 Orasure Technologies Inc 29,116.83 03/05/2003 35,158 .39 02/05/2003 (6,041 .56) 0.00 8,730.00 Surebeam Corp . 36,117.63 03/05/2003 35,603 .73 10121/2002 513.90 0.00 63.00 United Online Inc 852.26 03/05/2003 698 .13 05/28/2002 154 .13 0.00 71100 AlLins Inc 8,174.75 0310612003 6,062.84 08/21/2002 2,111 .91 0.00 190.00 Altins Inc 2,18453 03/0612003 1,710.89 08122/2002 473.64 0.00 Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 15 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Descrivtion Proceeds Date Cost Date Gain (- Loss Premium Discount)

27.00 Dov Pharmaceutical Inc 151 .19 03/06/2003 193 .44 12/2412002 (42 .25) 0.00 3,907.00 Kensey Nash Corp 74,418.67 03/06/2003 78,29628 01/22/2003 (3,877 .61) 0.00 5,493.00 LCI Intl 71,282.69 03/0612003 73,134.90 11127/2002 (1,852 .21) 000 635-00 Ufecell Corporation 1 .458.93 03/06(2003 2,010.67 11/1812002 (551 .74) 0.00 1,51000 Remington Oil & Gas Corp . 27,20469 03/06/2003 29,845 .15 02/1212003 (2,640.46) 0.00 2,75300 Remington Oil & Gas Corp . 49,599.02 03/06/2003 54,72826 02/18/2003 (5,129.24) 0.00 16.00 United Online Inc 215.40 03106/2003 177.30 05/28/2002 38 .10 0.00 1,312-00 Able Laboratories Inc 14,882.44 03/07/2003 16,662 .79 01/14/2003 (1.780.35) 000 4,633-00 Able Laboratories Inc 52,553.62 03/0712003 62,062 .28 02/1 W2003 (9,508 .66) 0.00 6,63100 Digene Corporation 110,990-95 03/07/2003 99,309 .53 0210712003 11,681 .42 0.00 3,421-00 Dov Pharmaceutical Inc 18,508-62 03/0712003 24,509 .99 12124/2002 (6,001 .37) 0.00 3,177.00 Kensey Nash Corp 58,377 .51 03/0712003 63,667 .08 01/22/2003 (5,289.57) 000 1,167.00 LCI Intl 15,221 .18 03/07/2003 15,537 .67 11/2712002 (316.49) 000 941 .00 LCI Intl 12,273 .46 03/07/2003 12,411 .37 0112812003 (137 .91) 000 326.00 Ufecell Corporation 710.26 03/07/2003 1,032.25 11/18/2002 (321 .99) 0.00 1,11000 1-ifecell Corporation 2,418.36 03/07/2003 3,501 .08 11/20/2002 (1,082.72) 0.00 6,229.00 Possis Medical Inc. 95,(Y72-21 03/07/2003 124,73261 02/03/2003 (29,660.40) 0.00 1,188-00 Possis Medical Inc. 18,132.25 03107/2003 23,587 62 02/04/2003 (5,455 .37) 0.00 2,394-00 Possis Medical Inc. 36,386.60 03/07/2003 48,448 .12 02/05/2003 (12,061 .52) 0.00 2,164-00 Remington Oil & Gas Corp . 38,961 .20 03107/2003 40,552 .28 01/24/2003 (1,591 .08) 0.00 1,805-00 Remington Oil & Gas Corp . 32,497 .68 03/07/2003 35,586 .66 02/11/2003 (3,088.98) 000 130-00 Remington Oil & Gas Corp . 2,340-55 03/0712003 2,569.45 02/12J2003 (228.90) 0.00 2,820.00 Sohu com Inc. 21,256.27 03/07/2003 12,090 .92 11/0612002 9,165.35 0.00 3,502-00 Sohu.com Inc. 26,396.97 03/07/2003 16,592 .53 11/1412002 9,804.44 0.00 1,866.00 Sohu com Inc. 14,065.32 03/07/2003 10,604 .48 1112512002 3,46084 000 1,544.00 Sohu com Inc. 11,638.18 03/07/2003 8,507.44 11/26/2002 3,130.74 0.00 5,004-00 Sohu corn Inc. 37,718.57 03107/2003 27,173 .53 1112712002 10,545 .04 0.00 1,453-00 Able Laboratories Inc 15,218.98 03/10/2003 18,453 .54 01/14/2003 (3,234.56) 0.00 957.00 Able Laboratories Inc 10,023.79 03/10/2003 11,846 .13 01/1512003 (1,822.34) 0.00 1,555.00 Digene Corporation 25,833.98 03/10/2003 23,288 .54 02/07/2003 2,545.44 000 1,305-00 Kensey Nash Corp 23,496.98 03/10/2003 26,152 .20 0 1/22J2003 (2,65522) 000 1,373.00 LjCI Intl 17,292.68 03/10/2OD3 18,109 .25 01/2812003 (81657) 0.00 967.00 Lifecell Corporation 1,990-65 03/10f2003 3,050.04 11120/2002 (1,059.39) 0.00 3.00 United Online Inc 40.78 03/1012003 33 .24 05/28/2002 7.54 000 413-00 Able Laboratories Inc 4,35552 03/1 If2003 5,11228 01/15/2003 (756.76) 0.00 689.00 Cray, Inc 4,463.11 03/11 f2003 5,548.10 02(2412003 (1,084.99) 0.00 4,191.00 Cray,inc 27,147.86 03/11/2003 34,342 .77 02/2512003 (7,194.91) 0.00 2,854.00 Cray, Inc 18,357.68 03/11/2003 23,596 .17 02126/2003 (5,238 .49) 000 466-00 Cray,lnc 3,018.59 03/11/2003 3,910.07 02/27/2003 (891 .48) 000 1,281.00 Kensey Nash Corp 23,366.01 03/1112003 25 .671 .24 01122/2003 (2,305 .23) 0.00 1,376.00 Kensey Nash Corp 25,098.85 03/1112003 26,639 .08 0112912003 (1,540.23) 0.00 874 .00 LC! Ind 10.728.63 03/11/2003 11,097 .81 01/27/2003 (369 .18) 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium L Discount)

141.00 LCI Intl 1 .730.82 03/11/2003 1,859.73 01/2812003 (128 .91) 0.00 1.00 LCI Intl 12.28 03/11/2003 0.00 03/03/2003 12.28 0.00 3,244.00 Lifecell Corporation 6,488.80 03/11/2003 10,231 .99 11/2012002 (3,743 .19) 0.00 854.00 Orasure Technologies Inc 5,064.06 03/11/2003 6,834.59 02/04/2003 (1,770.53) 0.00 3,362.00 Remington Oil & Gas Corp. 60,188 .73 03/11/2003 63,002 .20 01/2412003 (2,813 .47) 000 722 .00 Remington Oil & Gas Corp. 12,925 .72 03/11/2003 13,42039 01127/2003 (494.67) 0.00 1,381.00 Remington Oil & Gas Corp. 24,723 .57 03/11/2003 25,739 .63 01/2912003 (1,016.06) 0.00 7,713.00 Cray,inc: 48,986.23 03/12/2003 30,831 .51 0610612002 18,154 .72 0.00 8,904.00 Cray,Inc: 56,550.42 03/1=003 35,671 .20 06/07/2002 20,87922 0.00 687 .00 Cray,lnc 4,363.22 03/12/2003 2,752.93 06121/2002 1,610.29 0.00 459.00 Cray, Inc 2,915.17 03/12/2003 3,696.05 02124/2003 (780.88) 0.00 924.00 Dov Pharmaceutical Inc 4,704.12 03/1212003 6,62006 12/24/2002 (1,915 .94) 0.00 1,882.00 Dov Pharmaceutical Inc 9,581.34 03/1212003 13,475 .12 12/27/2002 (3,893.78) 0.00 2,394.00 Dov Pharmaceutical Inc 12,187.95 03/12/2003 16,590.42 01/07/2003 (4,402.47) 0.00 1,005.00 Kensey Nash Corp 17,912.67 03/12/2003 19,456.60 0112912003 (1,543.93) 000 1,629.00 Lifecell Corporation 3.244.52 03/1212003 5,138.07 11/20/2002 (1,893.55) 0.00 1,473.00 Ufecell Corporation 2,933.81 03/1212003 4,649.03 11121/2002 (1,715.22) 0.00 414.00 Lifecell Corporation 824.58 03/12/2003 1,304.16 11/2612002 (479.58) 0.00 2,233.00 Orasure Technologies Inc 13,086.19 03/1212003 17,870 .77 02/04/2003 (4,784 .58) 0.00 659.00 Remington Oil & Gas Corp . 11,720.09 03/12/2003 12,249 .36 01127/2003 (529.27) 0.00 2,072.00 Renungton Oil & Gas Corp . 36,849.81 03/12/2003 38,389 .81 01/28/2003 (1,540 .00) 0.00 5,462.00 Able Laboratories Inc 64,052 .92 03/13/2003 60,134 .86 12/11/2002 3,918.06 0.00 3,615.00 Able Laboratories Inc 42,393 .13 03/13/2003 44,747 .92 01/15/2003 (2,354 .79) 0.00 3,391 .00 Ile Bombay Company Inc. 15,989 .56 03/13/2003 17,733 .86 01/0712003 (1,744 .30) 0.00 3,432.00 Tbe Bombay Company Inc. 16,182 .89 03/13/2003 18,807 .19 01/09/2003 (2,624 .30) 000 105 .00 Kensey Nash Corp 1,847.94 03/1312003 2,032.78 01/29/2003 (18494) 0.00 1,145.00 Kensey Nash Corp 20,151 .39 03/13/2003 22,15541 02/19/2003 (2,004 .02) 0.00 1,411 .00 Kensey Nash Corp 24,832 .85 03/13/2003 27,29424 02/20/2003 (2,461 .39) 0.00 302 .00 Lifecell Corporation 606.76 03/13/2003 951 .34 11/2612002 (344 .58) 000 1,088.00 Orasure Technologies Inc 6,528.59 03/13/2003 8,707.30 02104/2003 (2,178 .71) 0.00 2,590.00 Orasure Technologies Inc 15,541 .41 03/13/2003 19,46825 02/19/2003 (3,926 .84) 000 504.00 Able Laboratories Inc 5,966.26 03/14/2003 5,548.88 12/11/2002 417.38 0.00 14,329 .00 The Bombay Company Inc. 65,625 .62 03/14/2003 74,936.16 01/0712003 (9,310.54) 0.00 374.00 Dov Pharmaceutical Inc 1,979.14 03/1412003 2,591.82 01/07/2003 (612 .68) 0.00 2,225.00 Dov Pharmaceutical Inc 11,77431 03/14/2003 15,330.25 01/1612003 (3,555 .94) 0.00 220.00 Dov Pharmaceutical Inc 1,164.20 03/14/2003 1,517.47 01/2412003 (353 .27) 0.00 46.00 Lifecell Corporation 93.64 03/14/2003 14522 11/22/2002 (51 .58) 0.00 2,756.00 Lifecell Corporation 5,610.44 03/1412003 8,681.80 11/2612002 (3,071 .36) 0.00 1.545.00 Orasure Technologies Inc 9,439.65 03/14/2003 11,499.90 02/12/2003 (2,060.25) 0.00 182.00 Orasure Technologies Inc 1,111.99 03/1412003 1,368.04 02/19/2003 (25605) 0.00 5,541.00 Able Laboratories Inc 63,880-20 03/17/2003 60,836.71 12/10/2002 3,043.49 0.00 991 .00 Able Laboratories Inc 11,424.88 03/17/2003 10,910.59 12/11/2002 514 .29 0.00 Dfiehaus Capital Management Friday January 23, 2004 16:44:47 Page 17 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount) 1,902.00 Able Laboratories Inc 21.927.48 03117/2003 20,902.98 12/1212002 1,024.50 0.00 1,132.00 Able Laboratories Inc 13,050 .42 03/1712003 12,382.50 12/13/2002 66792 0.00 9,847.00 The Bombay Company Inc. 45,585.16 03/17/2003 43,737.63 12/03/2002 1,84753 000 13,227 .00 The Bombay Company Inc. 61,232.34 03/17/2003 69,173-05 01/07/2003 (7,940.71) 0.00 5,765.00 Energy Partners Ud 58,295 .18 03/17/2003 62,546.96 01/07/2003 (4,251 .78) 0.00 1,085.00 Energy Partners Ltd 10,971 .42 03/17/2003 11,77583 03/1112003 (80441) 000 2,921 .00 Impac Medical Systems Inc 55,789.41 03/17/2003 58,387.28 03/0412003 (2,597 .87) 0.00 17000 Kensey Nash Corp 3,162.42 03/17/2003 3,281.70 02/18/2003 (119.28) 0.00 900 Kensey Nash Corp 167.42 03/1712003 174.10 02/2012003 (6.68) 0.00 2,844.00 Kos Pharmaceuticals Inc. 47,948.39 03/17/2003 61,328.87 11/13/2002 (13,38048) 000 5,419.00 Kos Pharmaceuticals Inc. 91,361 .57 03/17/2003 120,663.25 11/1412002 (29,301-68) 000 560.00 Kos Pharmaceuticals Inc. 9,441.31 03/17/2003 13.18066 11/15/2002 (3,739-35) 0.00 343.00 Orasure Technologies Inc 2,186.88 03/17/2003 2,421.99 02/07/2003 (235 .11) 0.00 361 .00 Orasure Technologies Inc 2,301.64 03/17/2003 2,640.S7 0211012003 (338.93) 0.00 3,139.00 Orasure Technologies Inc 20,013 .42 03/1712003 23,171 .16 02/11/2003 (3,157 .74) 0.00 1,892.00 Orasure Technologies Inc 12,06288 03/1712003 14,082.72 02/1212003 (2,019.84) 0.00 5.00 Orasure Technologies Inc 31.88 03/1712003 35.00 02/14/2003 (3.12) 0.00 2,885.00 Orasure Technologies Inc 18,393 .98 03117/2003 21,349.00 02/18/2003 (2,955.02) 000 1,037.00 Ile Bombay Company Inc. 4,914.21 03/18/2003 4,57068 1112212002 343 .53 0.00 3,607.00 The Bombay Company Inc. 17,093 .12 03/1 W2003 16,021 .29 12103/2002 1,071.83 0.00 1,011.00 Dov Pharmaceutical Inc 5,911.89 03/1812003 6,895.02 01/09/2003 (983.13) 0.00 968.00 Dov Pharmaceutical Inc 5,660.44 03/1&2003 6,640.48 01/15/2003 (980.04) 0.00 540.00, Dov Pharmaceutical Inc 3,157.69 03/1812003 3,720.60 01/16/2003 (562.91) 0.00 2,95500 Dov Pharmaceutical Inc 17,279.56 03/18/2003 20,230.82 02/05/2003 (2,951 .26) 0.00 2,348.00 Kensey Nash Corp 43,960.51 03/1812003 44,120.80 01/28/2003 (160.29) 0.00 157.00 Kenscy Nash Corp 2,939.44 03/1=003 3,03074 02/18/2003 (91 .30) 000 76900 Lifecell Corporation 1,616.01 03/18/2003 2,427.62 11/22/2002 (811 .61) 0.00 7,153.00 The Bombay Company Inc. 34,955 .85 03/19/2003 30,83684 11/21/2002 4,119.01 0.00 3,137.00 The Bombay Company Inc. 15,330.14 03/19/2003 13,826.63 11/2212002 1,503.51 0.00 2,136.00 'Me Bombay Company Inc. 10,438 .37 03/19/2003 9,301.48 12/0212002 1,136.89 0.00 373 .00 Dov Pharmaceutical Inc 2,211.82 03/19/2003 2,543.86 01/09/2003 (332.04) 0.00 311 .00 Dov Pharmaceutical Inc 1.8". 17 03/19/2003 2,11202 02/0412003 (267.85) 0.00 2,990.00 Energy Partners Lid 28,529 .71 03/1912003 32,451 .37 03111/2003 (3,921 .66) 0.00 1,500.00 Energy Partners Ltd 14,312 .56 03/19/2003 16,220.10 03/1212003 (1,907.54) 0.00 10,214.00 lifecell Corporation 23,01031 03/19/2003 31,035 84 11/1412002 (8,02553) 0.00 4,17000 Lifecell Corporation 9,394.26 03/19/2003 12,834.06 11/19/2002 (3,439.80) 0.00 158.00 Lifecell Corporation 355 .95 03/19/2003 49878 11/2212002 (142.83) 000 1,805.00 Lifecell Corporation 4,066.34 03/19/2003 5,683.73 11/25/2002 (1.617.39) 0.00 3,387.00 Overstock .com Inc 37,566.44 03/19/2003 52,13067 12/0212002 (14,564 .23) 000 4,170.00 'Me Bombay Company Inc. 19,899 .67 0312012003 17.501 .68 11/19/2002 2,397.99 0.00 9,283.00 The Bombay Company Inc. 44,299 .44 03/20/2003 38,217 .70 11/20/2002 6,081 .74 0.00 2,585.00 'Me Bombay Company Inc. 12,335 .89 03/20/2003 11,14403 11/21/2002 1,191 .86 0.00 0

Driehaus Capital Management Friday January 23,2004 16:44:47 Page 18 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceed Date cost Date 'Gain (- Loss) Premium Discount)

1,095-00 Dov Pharmaceutical Inc 6,460.30 03/20f2003 7,436.22 0210412003 (975.92) 0.00 903-00 Energy Partners Ltd 8,794.39 03/20/2003 9,339.20 12/10/2002 (544 .81) 0.00 2,733.00 Energy Partners Ltd 26,616 .92 03/20/2003 29,175.32 12/11/2002 (2,558 .40) 0.00 1,35000 Energy Partners Ltd 13,147 .76 03/20/2003 14,598 .09 03/1212003 (1,450 .33) 0.00 1,331.00 Kos Pharmaceuticals Inc. 22,235 .14 0312012003 28,702.08 11113/2002 (6,466 .94) 0.00 3,777.00 Kos Pharmaceuticals Inc. 63,097 .03 03/20/2003 80,978.88 11/25/2002 (17,881 .85) 0.00 518 .00 Kos Pharmaceuticals Inc. 8,653.50 03/20/2003 10,98030 1210212002 (2,326 .80) 0.00 1,392.00 Ufecell Corporation 3,110.33 03/20/2003 3,834.27 11/13/2002 (72394) 0.00 473 .00 Ufccell Corporation 1,056.88 03/20/2003 1,437.24 11/14/2002 (38036) 0.00 2,148.00 Overstock.corn Inc 23,439 .55 03/20/2003 33,060.73 12/02/2002 (9,621 .18) 0.00 2,450.00 Overstock .corn Inc 26,735 .06 03/20/2003 37,646 .95 12/03/2002 (10,911 .89) 0.00 4,30000 Overstock.corn Inc 46,922 .76 03120/2003 63,03026 12112/2002 (16,107 .50) 0.00 1,327.00 Overstock.com Inc 14,480.58 03/20/2003 19,522 .69 12/1312002 (5,042 .11) 000 878 .00 Possis Medical Inc. 14,392 .53 03120/2003 12,727.75 11/0612002 1,664.78 0.00 3,058.00 Possis Medical Inc. 50,127 .97 03/20/2003 47,756 .48 12/02/2002 2,371.49 0.00 1,584.00 Possis Medical Inc. 25,965 .56 03120/2003 24,473 .43 1210312002 1,492.13 0.00 987.00 Possis Medical Inc. 16,179 .30 03/20/2003 19,596 .79 02/0412003 (3,417 .49) 0.00 842-00 Dov Pharmaceutical Inc 5,085.52 03/21/2003 5,718.08 02/04/2003 (632-56) 000 1,346.00 Energy Partners Ltd 13,193 .49 03/2112003 13,920 .88 12/10/2002 (727 .39) 0.00 684.00 Dov Pharmaceutical Inc 4,103.89 03/24/2003 4,645.09 02/0412003 (541 .20) 0.00 449.00 Energy Partners Ltd 4,341 .71 03/2412003 4,643.74 12110/2002 (302 .03) 0.00 601-00 Central European Distribution Corp . 15,535 .45 03/25/2003 14,063 .40 01/1512003 1,472.05 0.00 761 .00 Dov Pharmaceutical Inc 4,490.39 03125/2003 5,087.37 12/23/2002 (596 .98) 0.00 963.00 Dov Pharmaceutical Inc 5,682.32 03125/2003 6,539.80 02/0V2003 (857 .48) 0.00 2,843.00 Energy Partners Ud 27,571 .56 03/2512003 29,403 .47 12/10/2002 (1,831 .91) 0.00 47-00 Kos Pharmaceuticals Inc. 803 .21 03/2512003 907.26 11/08/2002 (104 .05) 0.00 4,009.00 Kos Pharmaceuticals Inc. 68,512 .07 03125/2003 84,980 .78 12/0212002 (16,468 .71) 000 43.00 Netease.corn Inc. ADR 608 .94 03125/2003 144 .42 08/28/2002 464.52 0.00 700.00 Netease.com Inc. ADR 9,913.00 03/2512003 2,445.40 08/30/2002 7,467.60 0.00 2,543.00 Netease com Inc. ADR 36,012.50 03/25/2003 8,884.14 09/24/2002 27,128 .36 0.00 3.168.00 Netease corn Inc. ADR 44,863 .39 03/2512003 11,31869 09/25/2002 33,544.70 0.00 4,387-00 Netease.com Inc. ADR 62,126.17 03/25/2003 15,555 .48 09126/2002 46,57069 000 1,415.00 Central European Distribution Corp. 36,660.45 03126f2003 33,111 .00 01/1512003 3,549.45 000 1,951 .00 Dov Pharmaceutical Inc 11,982 .01 03/26/2003 13,042 .65 12/23/2002 (1,060 .64) 0.00 786 .00 Dov Pharmaceutical Inc 4,827.19 03/26f2003 5,112.62 01/30/2003 (285 .43) 0.00 1,532.00 Netease com, Inc. ADR 22,886.83 03/26f2OO3 5,147.85 08127/2002 17,738 .98 0.00 4,214.00 Netease com Inc. ADR 62,953 .73 03f26/2003 14,15301 08/28=02 48,800.72 0.00 2.54800 Netease com Inc. ADR 38,065 .04 03/26/2003 8,368.82 08/29/2002 29,696 .22 0.00 893.00 Netease.com Inc. ADR 13,340.69 03/2612003 2,917.50 10/02/2002 10,423 .19 0.00 7,349.00 Netease.com Inc. ADR 109,788 .07 03/26(2003 22,412 .22 10/03/2002 87,37585 000 5,397.00 Ask Jeeves Inc 36,367 .09 03/27/2003 37,101 .46 0212012003 (734 .37) 000 3,455.00 Ask leeves Inc 23,281 .14 03/27/2003 24,431 .26 02121/2003 (1.150 .12) 0.00 Driehatis Capital Management Friday January 23, 2004 16:44:47 Page 19 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantit Security Descrivtion Proceeds Date Cost Date Gain (- Loss) Premium Discount

406.00 Ask Jeeves Inc 2,735.79 0312712003 2,883.01 02/2412003 (147 .22) 0.00 1,061 .00 Ask Jeeves Inc 7,149.43 03/27/2003 7,025.73 02/25/2003 123 .70 0.00 51400 Ask Jeeves Inc 3,463.53 03/27/2003 3,243.34 02/2612003 220.19 0.00 2,491.00 Central European Distribution Corp. 61,756.30 03127/2003 53,008 .48 01/07/2003 8,747.82 0.00 1,874.00 Central European Distribution Corp. 46,459.78 03/27/2003 41,565 .32 01/09/2003 4,894.46 0.00 1,074.00 Central European Distribution Corp. 26,62636 03/2712003 25,131 .60 01/15/2003 1,49476 0.00 5,539.00 Connetics Corp. 87,355 .57 03/27/2003 90,444 .12 03/17/2003 (3.088 .55) 000 2,303.00 Connetics Corp. 36,32061 03/27/2003 34,992 .01 03124r2OO3 1,32860 0.00 1,475.00 Digene Corporation 22,773 .42 03/27/2003 22,090.42 02/07/2003 683.00 000 684.00 Dov Pharmaceutical Inc 4,185.97 03/27/2003 4,449.15 01/30/2003 (263 .18) 0.00 10;8.00 Portfolio Recovery Associate 3,629.90 03127/2003 3,096.24 11/25/2002 533.66 0.00 2,811.00 Portfotio Recovery Associate 60,736.02 03/27/2003 53,549 .55 12/10/2002 7,186.47 0.00 3,583.00 Portfolio Recovery Associate 77,416.28 03/27/2003 67,718 .70 12/1112002 9,697.58 000 4,32200 Select Comfort Corp . 45,828.89 03/27/2003 45,409.35 0212812003 41954 0.00 8,18400 Ask Jeeves Inc 55,736.22 03/28/2003 49,991 .67 02/05/2003 5,744.55 0.00 99.00 Ask Jeeves Inc 674.23 03/28/2003 624.69 02/2612003 49.54 0.00 3,180.00 Digene Corporation 49,110.99 03/28/2003 47,625 .44 0210712003 1,485.55 0.00 677 .00 Dov Pharmaceutical Inc 3,79431 03128/2003 4,366.65 01/28/2003 (572.34) 0.00 534.00 Dov Pharmaceutical Inc 2,992.85 03/28/2003 3,473.46 01/30/2003 (480.61) 000 1,006.00 Dov Pharmaceutical Inc 5,638.22 03/28/2003 6,486.29 01/3112003 (848.07) 0.00 5,767.00 Select Comfort Corp. 59,194.56 03/28/2003 60,591 .33 02/28/2003 (1,396.77) 0.00 2,645.00 Select Comfort Corp. 27,149.23 03128/2003 27,631 .12 03/04/2003 (481 .89) 0.00 1,275.00 Central European Distribution Corp. 29,145.76 03/31/2003 22,090 .65 12/03/2002 7,055.11 0.00 1,191.00 Central European Distribution Corp. 27,225.57 03/31/2003 25,344 .48 01/07/2003 1,881.09 0.00 657 .00 Digene Corporation 10,288.48 03/31/2003 9,839.60 02/07/2003 448 .88 0.00 5,647.00 Inkine Pbarmaceutical Co, 9,013.66 03/3112003 13,791 .69 11/27/2002 (4,778.03) 000 2,037.00 Kos Pharmaceuticals Inc. 34,994 .77 03/31/2003 39,321 .03 11/08/2002 (4,326.26) 0.00 4,696.00 Emerson Radio Corp 31,420 .52 03/31/2003 35,448 .93 02103/2003 (4,028 .41) 0.00 4,264.00 Emerson Radio Corp 28,530 .04 03/3112003 31,333 .69 03/0612003 (2,803 .65) 000 2,527.00 Emerson Radio Corp 16,907 .93 03/3112003 18,515 .25 03/07/2003 (1,607 .32) 000 3,577.00 Possis Medical Inc. 57,492 .38 03/3112003 51,853 .27 1110612002 5,639.11 0.00 1,114.00 Possis Medical Inc. 17,905 .09 03/31/2003 16,108 .44 11/07/2002 1,796.65 0.00 1,800.00 Possis Medical Inc. 28,93103 03/31/2003 25,926 .12 11/14/2002 3,004.91 0.00 838 .00 Select Comfort Corp. 8,483.48 03/31/2003 5,63421 10103/2002 2,849.27 0.00 1,00700 Select Comfort Corp. 10,19434 03/31/2003 7,368.22 10104/2002 2,826.12 000 1,591.00 Select Comfort Corp. 16,10646 03/31/2003 13,449 .41 lOtl5/2OO2 2,657.05 000 1,570.00 Select Comfort Corp. 15,893 .86 03/31/2003 12,167 .50 10/16/2002 3,726.36 0.00 2,600.00 Select Comfort Corp. 26,321 .05 03131/2003 27,161 .02 03/04/2003 (839 .97) 0.00 186.00 Select Comfort Corp. 1,882.97 03/31/2003 1,871 .16 03/0512003 11 .81 0.00 2,709.00 Select Comfort Corp. 27,197 .66 03/31/2003 18,213 .71 10103/2002 8,983.95 0.00 43800 Alans Medical Inc 4,484.90 04/01/2003 4,267.26 03/0612003 217.64 0.00 536.00 Ask- "ceves Inc 3,633.90 04/0!12003 3,27A 1 A 0210512003 359.76 0.00

0 0 41 9 0 0 0 Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 20 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RRD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss Premium Discount 605.00 Tle Bombay Company Inc. 3,097.45 04/01/2003 3,489.35 03/2812003 (391 .90) 0.00 655.00 Biolase Tech Inc 5,204.84 04/01/2003 5,42098 03/1812003 (216.14) 0.00 705 .00 Central European Distribution Corp . 16,486.71 04/01/2003 11,977 .95 1112712002 4,508.76 000 867 .00 Central European Distribution Corp. 20,275.14 04/01/2003 14,799 .69 12/02/2002 5,475.45 0.00 654.00 Central European Distribution Corp. 15,294 .05 04/01/2003 11,33120 12/0312002 3,962.85 0.00 555.00 Eclipsys Corp 4,345.44 04101/2003 4,635.88 03/1 V2003 (290.44) 0.00 493 .00 Exult Inc 3,475.48 04/01/2003 3,646.94 03/1112003 (171 .46) 000 429.00 Ht-Tech Pharmacal Co. Inc. 9,549.09 04/0112003 7,983.73 03/1 V2003 1 .565 .36 000 377.00 Impac Medical Systems Inc 8.538.64 04101/2003 8,619.43 04/01/2003 (80.79) 0.00 428 .00 Inspire Pharmaceuticals Inc 6,639.42 04/01/2003 4,230.61 01107/2003 2,408.81 0.00 3,259.00 Kos Pharmaceuticals Inc. 56,188 .05 04/01/2003 62,909-78 11/08/2002 (6,721 .73) 0.00 1,709.00 Kos Pharmaceuticals Inc. 29,464 .68 04/01/2003 32,709-92 11/1112002 (3,245 .24) 0.00 2,733.00 Emerson Radio Corp 18,745.01 04101/2003 19,943 .25 02/1112003 (1,198.24) 000 2,666.00 Emerson Radio Corp 18,285 .47 04101/2003 19,533 .70 03/0712003 (1,248 .23) 0.00 2,671.00 Emerson Radio Corp 18,319 .76 04/01/2003 18,927 .42 03/2012003 (607 .66) 0.00 200.00 Nil Holdings Inc - Cl B 5,247.75 04/01/2003 4,151 .12 02/28/2003 1,096.63 0.00 631 .00 Netease.com Inc. ADR 9,319.37 04/01/2003 1,924.36 10103/2002 7,395.01 0.00 211.00 Possis Medical Inc. 3,406.96 04/01/2003 3,039.12 11/14/2002 367 .84 0.00 59.00 Possis Medical Inc. 952.66 04/01/2003 848-97 11/19/2002 103 .69 0.00 2,690.00 Portfolio Recovery Associate 60,974.05 04101/2003 49,576 .70 11/25/2002 11,397 .35 0.00 664-00 Select Comfort Corp. 6,576.60 04/01/2003 4,464-34 10/0312002 2,112.26 0.00 60.00 Sohu corn Inc. 650.97 0410112003 237 .85 11/05/2002 413 .12 0.00 26600 Sohu com Inc. 2,885.96 04/01/2003 1,140.49 11/0612002 1,745.47 0.00 10,982 .00 Surebearn Corp. 32,417.26 04/01/2003 44,788 .10 10/21/2002 (12,370.84) 0.00 1,302-00 Kos Pharmaceuticals Inc. 22,448 .41 04/02J2003 24,920.02 11/11/2002 (2,471 .61) 0.00 1,044-00 Emerson Radio Corp 7,230.29 04/0212003 7,398-58 02/12/2003 (168.29) 0.00 2,152.00 Emerson Radio Corp 14,903 .82 04/02t2003 15,249 .65 03/20/2003 (345.83) 000 1,447.00 Select Comfort Corp. 14,979 .36 04/02/2003 9,728.77 10103/2002 5,250.59 0.00 1,991 .00 Sttrebeam Corp. 6,018.97 04/0212003 8,119-93 1012112002 (2,100.96) 0.00 3,058.00 Surebeam Corp. 9,24461 0410212003 12,202 .06 10/22/2002 (2,957.45) 0.00 343.00 UTI Worldwide Inc. 9,173.99 0410212003 9,341 .78 03/1312003 (167 .79) 0.00 1,160.00 UTI Worldwide Inc. 31,025 .75 04/0212003 32,886 .00 03/25/2003 (1,86025) 0.00 466.00 UTI Worldwide Inc. 12,46379 04/02/2003 13,11869 03/26/2003 (654.90) 0.00 4,291.00 Eclipsys Corp 32,342 .75 04103/2003 33,851 .35 02/25/2003 (1,508 .60) 0.00 2,041.00 Eclipsys Corp 15,383 .72 04/0312003 16,838 .25 03/17/2003 (1,454.53) 0.00 6,507.00 Eclipsys Corp 49,045 .50 04/03/2003 54,352-57 03/18/2003 (5,307 .07) 000 4,347.00 Eclipsys Corp 32,76494 04/0312003 35,274 .70 03/1912003 (2,509.86) 0.00 2,183.00 Eclipsys Corp 16,454 .02 04/03/2003 17,644 .97 03/20/2003 (1,190.95) 0.00 1,198.00 Portfolio Recovery Associate 27,468 .85 04103/2003 21,788 .86 1 1/1&'2002 5,67999 0.00 442 .00 Portfolio Recovery Associate 10,134 .58 04/03/2003 8,146.06 1 1 r2512002 1,988.52 0.00 764.00 Surebeam Corp . 2,266.90 04/03/2003 3,04852 10/22/2002 (781 .62) 0.00 6,809.00 Surebearn Corp . 20,203.30 04/03/2003 26,967 .70 10/2412002 (6,764.40) 0.00 Driehaus Capital Management Friday January 23, 2004 16.44:47 Page 21 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantit Security Descriation Proceed Date Cost Date Gain (- Loss Premium Discount) 1,362-00 Eclipsys Corp 9,813.03 04/04/2003 10,691 .70 02124/2003 (878.67) 0.00 1,158-00 Eclipsys Corp 8,343.23 04/04/2003 9,135.37 02/25/2003 (792.14) 000 9,53000 Eclipsys Corp 68,662.37 04/04/2003 74,384.28 03/0612003 (5,721 .91) 0.00 2,337.00 Surebearn Corp. 6.848.38 04/0412003 9,210.59 10/2312002 (2,362 .21) 0.00 1,197.00 Surebeam Corp. 3,507.71 04104/2003 4,740.83 10/24/2002 (1,233 12) 0.00 1,105-00 Central European Distribution Corp. 26,201 .85 04/07/2003 17,723 .10 11/18/2002 8,478.75 0.00 1,25000 Central European Distribution Corp. 29,640.11 04/07/2003 20,875.00 11/25/2002 8,765.11 0.00 545.00 Central European Distribution Corp. 12,923 .09 04/07/2003 9,259.55 11/27/2002 3,663.54 0.00 949.00 Central European Distribution Corp. 22,502.77 04/07/2003 16,123 .23 12104/2002 6,37954 0.00 8.273.00 Eclipsys; Corp 59,637.22 04/07/2003 60,775.68 02/0612003 (1,138 .46) 0.00 4,094.00 Eclipsys Corp 29,512.24 04/07/2003 30,444.92 02111/2003 (932.68) 0.00 4,225.00 Eclipsys Corp 30.456.57 04107/2003 32,945.11 02/18/2003 (2,488 .54) 0.00 1,951 .00 Eclipsys Corp 14,06409 04/07/2003 15,138 .00 02/19/2003 (1,073 .91) 0.00 3,409.00 Eclipsys Corp 24,574.31 04107/2003 26,187.94 03/04/2003 (1,613 .63) 0.00 6,299.00 Eclipsys Corp 45,407.33 04/07/2003 48,194.15 03/05/2003 (2,786 .82) 0.00 87.00 Eclipsys Corp 627.15 04/07/2003 679.06 03/06(2003 (51 .91) 000 2,918.00 Eclipsys Corp 21,034.86 04/0712003 22,776.16 03/07/2003 (1,741 .30) 0.00 1,241 .00 Impac Medical Systems Inc 23,801 .26 04/07/2003 28,069.68 03/31/2003 (4,268.42) 0.00 1,067.00 Impac Medical Systems Inc 20,46409 04/0712003 24,395.03 04/0112003 (3,930 .94) 0.00 500-00 Impac Medical Systems Inc 9,589.55 04/07/2003 11,798 .60 04/0212003 (2,209 .05) 0.00 48.00 Inspire Pharmaceuticals Inc 740.54 04/07/2003 464.48 12/26/2002 276.06 000 11,606.00 Inspire Pharmaceuticals Inc 179,055.89 04/07/2003 114,720.73 01/07/2003 64,335 .16 0.00 1,936-00 Inspire Pharmaceuticals Inc 29,868.36 04/07/2003 18,996 .42 01/08/2003 10,871.94 0.00 1,373.00 Overstock.com Inc 14,736 .74 04/07/2003 15,514 .90 11/18/2002 (778.16) 0.00 1,457.00 Overstock.com Inc 15,638.33 04107/2003 15,677 .32 11/1912002 (38.99) 0.00 8,687.00 Overstockcom Inc 93,239.67 04/07/2003 104,977.52 1112512002 (11,737.85) 0.00 649.00 OverstocLoom Inc 6,965.87 04/07/2003 9,513.17 12/1212002 (2,547.30) 000 674.00 Overstock.com Inc 7,234.21 04/07/2003 9,810.41 12/1612002 (2,576 .20) 0.00 137.00 Select Comfort Corp. 1.530.43 04/07/2003 921 .11 10103/2002 609.32 0.00 2,340.00 Surebeam Corp. 5,942.09 04/0712003 9,222.42 10/23/2002 (3,280 .33) 000 4,000.00 UTI Worldwide Inc. 108,599.69 04/07/2003 108,94200 03/13/2003 (342.31) 0.00 1,07000 Impac Medical Systems Inc 20,420.74 0410812003 22,577.00 03/27/2003 (2,15626) 0.00 1,377.00 Impac Medical Systems Inc 26,279.77 04/0812003 29,082.24 03/28/2003 (2,802 .47) 000 1,332.00 Impac Medical System Inc 25,420.95 04/08/2003 30,127.98 03/31/2003 (4,707.03) 0.00 7,104.00 Inspire Pharmaceuticals Inc 105,281.29 04/08/2003 68,743.20 12/2612002 36,538 .09 0.00 504.00 Inspire Pharm2ccuticals Inc 7,469.28 04/0a/2003 4,791 .98 12/27/2002 2,677.30 0.00 515.00 Surebeam Corp. 1,22219 04/11/2003 2,029.72 1012312002 (80753) 0.00 258.00 Surebeam Corp. 617.87 04/14/2003 1,016.83 10/23/2002 (398.96) 0.00 2,100.00 Connetics Corp. 33,938 .60 04/15/2003 31,283.49 03/11/2003 2,655.11 0.00 102.00 Connetics Corp. 1,648.45 04/15/2003 1,549.80 03124/2003 98.65 0.00 4,020.00 Digene Corporation 78.787.89 04115/2003 60,205.75 02107/2003 18,582.14 0.00 I1,8U .00 D,.gene Corporation 36.140.51 04/1512003 34,58828 04/01/2003 1,552.23 0.00

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Driehaus Capital Management Friday January 23, 2004 16.44:47 Page 22 Gains and Loss Reportfron: 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

1,308.00 Digene Corporation 25,635 .46 04/1512003 26,540 .89 04/0212003 (905 .43) 000 4.390.00 Inspire Pharmaceuticals Inc 58,660 .03 04115/2003 35,559 .56 11/25/2002 23,100.47 0.00 2,778.00 Inspire Pharmaceuticals Inc 37,120 .17 04/1512003 23,224 .08 11129/2002 13,896 .09 0.00 3,384.00 Inspire Pharmaceuticals Inc 45,217 .66 04/1512003 29,021 .86 12/02/2002 16,195 .80 0.00 2,062.00 Inspire Pharmaceuticals Inc 27,552 .84 04/15/2003 19,605 .29 1212712002 7,947.55 0.00 407.00 Omega Protein Corp . 1,924.81 04/15/2003 2,328.71 03/2012003 (403 .90) 0.00 243.00 Surebeam Corp. 568.59 04/15/2003 957.71 10123/2002 (389 .12) 0.00 1,403.00 Emerson Radio Corp 9,073.84 04/16/2003 9,942.73 02/1212003 (868 .89) 0.00 6,476.00 Emerson Radio Corp 41,883 .23 04/16/2003 48,32947 04/07/2003 (6,446.24) 0.00 1,143.00 Emerson Radio Corp 7,392.30 "16/2003 8,352.59 04108/2003 (960.29) 0.00 4,136.00 Netease .corn Inc. ADR 85,611 .17 04/1612003 11,930 .61 08126/2002 73,680 .56 000 536.00 Netease .corn Inc. ADR 11.094 .68 04/16/2003 1,634.64 10/03/2002 9,460.04 0.00 977-00 Netease .corn Inc. ADR 20,222 .95 04/16/2003 2,799.84 10/0412002 17,423 .11 0.00 2,019.00 Netease .corn Inc. ADR 41,796 .58 04/1612003 5,42093 08/23/2002 36,375 .65 0.00 3,630.00 Netease.corn Inc. ADR 75,146.90 04/16/2003 10,402 .68 10/04/2002 64,744 .22 0.00 3,197.00 Omega Protein Corp . 14,921 .60 04/1612003 18,292 .10 03/20/2003 (3,37050) 0.00 3,250.00 Possis Medical Inc. 56,287.35 04/16/2003 46,765 .55 11/19/2002 9,521 .80 0.00 248.00 Surebeam Corp . 570.39 "16/2003 977.42 10/23/2002 (407 .03) 0.00 265.00 Hi-Tech Phannacal Co. Inc. 8.189 .04 "17/2003 4,207.08 12/17/2002 3,981 .96 0.00 5,270.00 Hi-Tech Pharmacal Co. Inc. 162,853 .80 "1712003 92,536 .98 03/1412003 70,31682 0.00 1,947.00 Hi-Tech Phannacal Co. Inc. 60,166.29 " 17/2003 35,427 .81 03117/2003 24,738 .48 0.00 305 .00 Hi-Tech Pharmacal Co. Inc. 9,425.12 04/1712003 5,676.08 03/18/2003 3,749.04 0.00 8,908.00 Emerson Radio Corp 53,779.90 04/17/2003 61,913 .51 01/30/2003 (8,133 .61) 0.00 1,380.00 Emerson Radio Corp 8,331.42 04/17/2003 9,779.73 02/12/2003 (1,448 .31) 0.00 2,253.00 Emerson Radio Corp 13,601 .94 "1712003 15,732 .92 03/19/2003 (2,130.98) 0.00 2,914.00 Omega Protein Corp . 13,502.61 04/17/2003 16,672 .88 03120/2003 (3,170-27) 0.00 665 .00 Omega Protein Corp . 3,081.41 04/17/2003 3,758.11 03/21/2003 (676.70) 0.00 4,182.00 Alans Medical Inc 33,810.23 04/21/2003 40,743 .56 03/06/2003 (6,933 .33) 0.00 3,099.00 Alans Medical Inc 25,054.49 04/21/2003 29,118 .17 03/07/2003 (4,063-68) 0.00 483 .00 Emerson Radio Corp 2,918.33 04/21/2003 3,357.01 01/30/2003 (438 .68) 0.00 547 .00 Emerson Radio Corp 3,305.03 04/21/2003 3,787.98 02/19/2003 (482 .95) 000 1,998.00 Emerson Radio Corp 12,072.11 04/2112003 13,684 .10 03/18/2003 (1,611 .99) 000 971 .00 Omega Protein Corp . 4,542.02 04121/2003 5,48741 0312112003 (945 .39) 0.00 4.402-00 Omega Protein Corp. 20,591 .10 04/21/2003 24,567.29 03/26/2003 (3,976.19) 0.00 7,68200 Alans Medical Inc 65,739.80 04/22/2003 54,640.71 02/03/2003 11,099.09 0.00 1,568.00 Alaris Medical Inc 13,418 .38 04122/2003 11,886.54 0210412003 1,531 .84 0.00 1,54500 Alaris Medical Inc 13,221 .56 04/22/2003 11,815 .85 02/05/2003 1,405.71 0.00 3,488.00 Alans Medical Inc 29,849.05 0412212003 25,172 .74 02118/2003 4,676.31 000 2,832.00 Alaris Medical Inc 24,23524 04122/2003 21,28135 02/19/2003 2,953.89 0.00 1,587.00 Alaris Medical Inc 13,580.98 04122/2003 12,027.24 02/2012003 1,553.74 0.00 1,806.00 Alans Medical Inc 15,455 .10 04122/2003 16,969.16 03/07/2003 (1,514 .06) 0.00 3,369-00 Connetics Corp. 53,620.83 04/22/2003 49,009.85 02/24/2003 4,610.98 0.00 Driehaus Capital Management Friday January 23, 2004 16:44:47 Pa6e 23 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Descrintion Proceeds Date Cost Date Gain (- Loss) Premium Discount 77500 Connetics Corp. 12,334.86 04/22/2003 11,08335 02/25/2003 1,251.51 0.00 388-00 Connetics Corp. 6,175.39 0412212003 5,78000 03/11/2003 395 .39 0.00 2,921 .00 Digene Corporation 56,060.11 04/2212003 43,746.51 02/07/2003 12,313.60 0.00 2,487-00 Impac Medical Systems Inc 46,33062 04/22/2003 45,873.71 11/21/2002 456.91 0.00 244-00 Impac Medical Systems Inc 4,545.51 04/2212003 4,877.27 03/0412003 (331 .76) 0.00 55~-00 Impac Medical Systems Inc 10,339.16 04/2212003 11,710.50 03/27/2003 (1,371 .34) 0.00 2,015.00 Inspire Pharmaceuticals Inc 26,812.94 04/2212003 16,321 .76 11/2512002 10.491 .18 0.00 1,128.00 Emerson Radio Corp 6,86502 04122/2003 7,660.05 03/17/2003 (795 .03) 000 716-00 Emerson Radio Corp 4,357.58 04/22/2003 4,903.81 03/1 &'2003 (546 .23) 0.00 2,509-00 Netease .corn Inc. ADR 53,680.03 04/22/2003 6,736.56 08t23/2002 46,943 .47 0.00 744.00 Omega Protein Corp. 3,427.44 04122f2003 4,110.88 03/25/2003 (683 .44) 0.00 3,578.00 Omega Protein Corp. 16,483.05 04122/2003 19,968 .59 03/26/2003 (3,48554) 0.00 2,154.00 Alans Medical Inc 18,506.40 04/23/2003 12,599.31 0610312002 5,907.09 000 9,802-00 Alans Medical Inc 84,215.29 04/2312003 56,096 .04 06104/2002 28,119 .25 0.00 736-00 Alans Medical Inc 6,323.45 04/23/2003 4,253.34 06/0512002 2,07011 0.00 3,436-00 Alaris Medical Inc 29,52089 04/23f2003 19,716 .40 06/0612002 9,804.49 0.00 2,102-00 Alaris Medical Inc 18,05964 04/23/2003 12,182.11 06/07/2002 5,877.53 0.00 8,271-00 Alans Medical Inc 71,061 .49 04/23/2003 52,096 .17 11/04/2002 18,965 .32 0.00 2,028-00 Alans Medical Inc 17,423.85 0412312003 14,424 .80 02/03/2003 2,999.05 0.00 421-00 Digene Corporation 8,093.25 04/23/2003 6,305.13 02/0712003 1,788.12 0.00 814-00 Inspire Pharmaceuticals Inc 10,908.46 04/23/2003 6,593.50 11/25/2002 4,314.96 0.00 4,30000 Emerson Radio Corp 27,171 .57 OV2312003 29,200 .55 03/17/2003 (2,028.98) 0.00 1.501.00-- Netease .com Inc. ADR 31,729.65 04/23/2003 3,956.14 08/22/2002 27,773 .51 0.00 509-00 Netease .corn Inc. ADR 10,759.75 04/23/2003 1,36664 08/23/2002 9,393.11 0.00 1,956.00 Omega Protein Corp. 9,054.14 04/23/2003 10,807.63 03/25/2003 (1,753 .49) 0.00 241 .00 Digene Corporation 4,571.55 04/24/2003 3,609.35 02/07/2003 962.20 0.00 1,957.00 Omega Protein Corp. 9,071.41 04/2412003 10,813 .16 03/25/2003 (1,741 .75) 0.00 2,774.00 Symyx Technologies Inc 41,689.87 04124/2003 42,742 .90 04101/2003 (1,053 .03) 0.00 4,489.00 Symyx Technologies Inc 67,464.24 04124/2003 72,129.70 04/0212003 (4,665 .46) 000 9,643-00 AT Road Inc 62,522.43 04125/2003 68,263 .12 04/0112003 (5,74069) 0.00 8,012.00 AT Road Inc 51,947.50 04/25/2003 54,935 .80 04/0712003 (2,988.30) 0.00 3,213.00 Exult Inc 25,02808 04/25/2003 23,768 .00 03/11/2003 1,260.08 0.00 3,395.00 Omega Protein Corp. 15,900.04 04/25/2003 18,623 .43 03/18/2003 (2,723 .39) 0.00 2,441.00 Omega Protein Corp. 11,432.11 0412512003 13,234 .83 03/19/2003 (1,802.72) 000 2,119-00 Omega Protein Corp. 9,924.06 04/2512003 11,708 .27 03/25/2003 (1,784.21) 0.00 88.00 Overstock .corn Inc 882.60 04/25/2003 86831 11/0512002 1429 000 408 .00 Overstock .com Inc 4,092.05 04/25/2003 4,064.94 11/15/2002 27 11 000 1,196.00 Overstock .corn Inc 11,995 .31 04125/2003 12,868 .96 11/19/2002 (873 .65) 000 3,143.00 Overstock .corn Inc 31,522.79 04/25/2003 32,831 .15 1112W002 (1,308.36) 0.00 5,120.00 AT Road Inc 30,510.56 04128/2003 33,372.45 03/19P-003 (2,861 .89) 000 7,465-00 AT Road Inc 44,484.64 04/28/2003 48,948 .19 03/27/2003 (4,463 .55) 0.00 2.240.00 AT Road linc 13,348 .37 004n-8/2003 14,704 .93 03/2&'2003 (1,356.56) 0.00

0 0 0 0 ---* 40 40 0 0 0 Driehaus Capital Management Friday January 23, 2004 16:44 :47 Page 24 Gains and Loss Reportfrom 1110112002 to 1013112003

Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount) 70.00 AT Road Inc 417 .14 04/28/2003 479.97 04/07/2003 (62 .83) 0.00 4,661.00 AT Road Inc 27,775 .34 04128/2003 31,365 .33 04/08/2003 (3,589 .99) 0.00 8,307.00 AT Road Inc 49,413 .74 04129/2003 54,145 .49 03/19/2003 (4,731 .75) 0.00 3,975.00 AT Road Inc 23,645 .07 04/2912003 24,885 .32 03125/2003 (1,240 .25) 0.00 2,056.00 AT Road Inc 12,23001 04129/2003 12,692 .72 03/2612003 (462 .71) 0.00 8,781.00 Ask Jeevcs Inc 74,582.37 04/29/2003 53,63842 02/05/2003 20,943 .95 0.00 1,445.00 Ask Jeeves Inc 12,273 .26 OV29/2003 8,772.41 02/06r2003 3,500.85 000 3,009.00 Connetics Corp. 50,033 .70 OV2912003 41,898 .20 01/1012003 8,135.50 0.00 25.00 Connetics Corp. 415 .70 04129/2003 357 .53 02125/2003 58.17 0.00 3,70000 Exult Inc 29,075 .00 04/29/2003 26,741 .46 03/04/2003 2,333.54 0.00 2,248.00 Exult Inc 17,665 .03 04/29/2003 16,64262 03/06/2003 1,022.41 0.00 8,240.00 Exult Inc 64,75082 04/2912003 60,954.98 03/11/2003 3,795.84 0.00 3,324.00 Impac Medical Systems Inc 58,765 .55 04/29/2003 61,312.51 11/2112002 (2,546 .96) 0.00 3,891 .00 Inspire Pharmaceuticals Inc 55,523 .12 04129/2003 31,517.60 11/25/2002 24,005.52 0.00 1,88600 Inspire Pharmaceuticals Inc 26,912.52 04/29/2003 14,889.40 12/03/2002 12,023 .12 0.00 2,944.00 Omega Protein Corp. 15,024.72 04/2912003 15,962.04 03/19/2003 (937 .32) 0.00 2,086.00 Overstock.com Inc 19,276.85 04/29/2003 20,582.98 11105/2002 (1,306.13) 000 1,154.00 Overstockcom Inc 10,664.19 04/2912003 11,283.81 11/13/2002 (619 .62) 0.00 1,241.00 Sciclone Pharmaceuticals Inc. 8.145.22 04/29/2003 7,474.73 03/27/2003 670.49 0.00 8,173.00 Sciclone Pharmaceuticals Inc. 53,642.96 04/29/2003 49,504.52 03/28/2003 4,13844 000 6,051.00 Ask Jeeves Inc 50,376.68 04/30/2003 35,89664 02/03/2003 14,480 .04 0.00 2,291.00 Ask Jeeves Inc 19,073.37 04/30/2003 13,908.36 0210612003 5,165.01 0.00 2,930.00 Exult Inc 21,469 .73 04/30/2003 21,176.35 03/04/2003 293.38 000 1,067.00 Omega Protein Corp. 5,368.46 04/3012003 5,785.15 03/19/2003 (416.69) 0.00 1,074.00 Overstock.com Inc 8,410.20 04/30/2003 8,742-03 10/2912002 (331 .83) 0.00 934.00 Overstock.com Inc 7,313.90 04/3012003 9,13265 11/13/2002 (1,818.75) 0.00 536.00 Sciclone Pharmaceuticals Inc. 3,182.13 04/3012003 3,228.41 03/2712003 (46.28) 000 4,072.00 Ask Jeeves Inc 33,379 .44 05/01/2003 24,156.52 02/0312003 9,222.92 000 1,186.00 Exult Inc 8,695.11 05/0112003 8,181.38 02/28/2003 513.73 0.00 5,776.00 Exult Inc 42,346 .49 05/01/2003 40,648.50 03/03/2003 1,697.99 0.00 9,701.00 Exult Inc 71,122 .46 05/01/2003 70.113.23 03/0412003 1,009.23 0.00 2,689.00 Omega Protein Corp . 12,721 .94 05/01/2003 14,281 .69 03/17/2003 (1,559.75) 0.00 1,15300 Omega Protein Corp . 5,454.96 05/01/2003 6,251.44 03119/2003 (796.48) 0.00 4,992.00 Sciclone Pharmaceuticals Inc. 29,416 .24 05/01/2003 28,077.01 03/ 1 Of2OO3 1,339.23 0.00 8,401.00 Sciclone Pharmaceuticals Inc. 49,50438 05/0112003 50,600.47 03/27/2003 (1,096.09) 0.00 1,94900 Eresearch Technology Inc. 62,873 .74 05/0212003 47,753.03 03/11/2003 15,120 .71 0.00 3,334.00 Eresearch Technology Inc. 107,553 .12 05/02/2003 83,350.00 03/1712003 24,203 .12 0.00 1,996.00 Eresearch Technology Inc. 64,389 .93 05/0212003 54,387.01 04/01/2003 10,00292 0.00 3,276.00 Exult Inc 23,731 .74 05/02/2003 20,76591 02/2512003 2,965.83 0.00 1,200.00 Exult Inc 8,692.94 05/02/2003 8,277.96 02128/2003 414.98 0.00 223 .00 FINDWHAT.COM 2,233.37 05/0212003 3,050.64 04/2212003 (817 .27) 0.00 2,224.00 FINDWHAT.COM 22,27364 05/02/2003 30,770 .15 04/23/2003 (8,496.51) 0.00 Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 25 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Quandtj Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

687.00 Omega Protein Corp . 3,158.05 05/02/2003 3,648.76 03/1712003 (490.71) 0.00 7,003-00 Sciclone Pbarmaccuticals Inc. 38,801 .73 05/0212003 39,136 .00 03107/2003 (334.27) 0.00 4,316.00 Sciclone Pharmaceuticals Inc. 23,913 .79 05/02/2003 24,274 .91 03/10/2003 (361 .12) 0.00 3,831 .00 Sciclone Pharmaceuticals Inc. 21,226 .54 05/0212003 20,119 .91 03/11/2003 1,106.63 0.00 4,319.00 Sciclone Pharmaceuticals Inc. 23,930 .41 05/02/2003 22,474 .62 03/12/2003 1,455.79 0.00 3,857.00 Sciclone Pharmaceuticals Inc. 21,370 .59 05/02/2003 21,493 .43 03/17/2003 (122.84) 000 3,762-00 Sciclone Pharmaceuticals Inc. 20,844 .23 05/02/2003 20,263 .10 03/18/2003 581 .13 0.00 4,595-00 Sciclone Pharmaceuticals Inc. 25,459 .65 05/0212003 23,773 .77 03/19/2003 1.685 .88 0.00 6,319-00 Connetics Corp. 113,228 .62 05105/2003 87,987 .60 01/10/2003 25,241 .02 0.00 300.00 FINDWHAT.COM 3,163.17 05/05/2003 3,119.31 03/27/2003 43 .86 0.00 2,499.00 FINDWHAT.COM 26,349 .21 05/05/2003 34,186 .32 04/2212003 (7,837.11) 0.00 855 .00 Microstrategy Inc-Cl A 24,409 .10 05/05/2003 24,580 .40 04/1712003 (171 .30) 000 1,817.00 Microstrategy Inc-Cl A 51,872 .91 05/05/2003 55,353 .63 0412212003 (3,480 .72) 0.00 5,496.00 Omega Protein Corp. 25,880 .72 05/05/2003 28,199 .58 03/07/2003 (2,318 .86) 0.00 288-00 Omega Protein Corp. 1,356.20 05/05/2003 1,529.61 03/17/2003 (173 .41) 0.00 4,501.00 Overstock.com Inc 46,583 .14 05/0512003 36,636 .75 10/29/2002 9,946.39 0.00 2,884.00 Synovis Life Technologies Inc 34,091 .02 05/05/2003 38,55620 04/15/2003 (4,465 .18) 0.00 4,065-00 Microstrategy Inc-Cl A 112,646 .02 05/0612003 103,301 .81 03/2612003 9,344.21 0.00 1.499-00 Microstrategy Inc-Cl A 41,539 .09 05/06(2003 37,290 .17 03/27/2003 4,248.92 0.00 475.00 Microstrategy Inc-C] A 13,162 .82 05/06/2003 11,962 .02 03/28/2003 1,200.80 0.00 2,163-00 Microstrategy Inc-Cl A 59,939 .32 05/0612003 62,184 .09 04/1712003 (2,244 .77) 0.00 7,577-00 Omega Protein Corp. 37,488 .14 05/0612003 38,877 .04 03/0712003 (1,388 .90) 0.00 2,186.00 Synovis Life Technologies Inc 25,891 .51 05/0612003 24,117 .70 03/13/2003 1,773.81 0.00 2,244.00 Synovis Life Technologies Inc 26,578 .47 05/06/2003 30,000 .04 04/1512003 (3,421 .57) 0.00 1,771-00 Able Laboratories Inc 29,225 .26 05/0712003 29,060.87 04/15/2003 164.39 0.00 1,341.00 Able Laboratories Inc 22,129 .35 05/07/2003 23,065 .20 04129/2003 (935 .85) 0.00 2,709.00 Microsen-d Corp . 31,469 .60 05/07/2003 29,629 .54 03/1912003 1,840.06 0.00 2,652-00 Microsemi Corp . 30,807 .45 05/07/2003 29,038 .07 03/25/2003 1,769.38 000 7,662.00 Microserni Corp . 89,007 .03 05/07/2003 85,464 .87 03/27/2003 3,542.16 000 3,129-00 Microserni Corp . 36,34861 05/0712003 35,514 .46 03/28/2003 834.15 0.00 528.00 Omega Protein Corp. 2,552.54 05/07/2003 2,709.13 03/07/2003 (156 .59) 0.00 2,258-00 Synovis Life Technologies Inc 27,377 .41 05/07/2003 24,474 .01 03/1212003 2,903.40 0.00 725.00 Synovis Life Technologies Inc 8,790.35 05/0712003 7,998.78 03/13/2003 791 .57 0.00 224.00 Synovis Life Technologies Inc 2,715.92 05/07/2003 2,441.60 03/17/2003 274.32 0.00 915-00 Able Laboratories Inc 14,283 .29 05/08/2003 15,014 .51 04/15/2003 (731 .22) 000 251 .00 Omega Protein Corp. 1,202.81 05/08/2003 1,287.86 03/07/2003 (85 .05) 0.00 9,370.00 StmOpta Inc 44,425.00 05/0&'2003 53,144 .41 05/05/2003 (8,719 .41) 0.00 65000 Synovis Life Technologies Inc 8,356.66 05/0812003 6,700.24 02/24/2003 1,656.42 0.00 3,005 00 Synovis Life Technologies Inc 38,633 .46 05/08/2003 31,038 .64 02/25/2003 7,594.82 0.00 3,038.00 Synovis life Technologies Inc 39,057.72 05/0812003 32,92827 0311212003 6,129.45 0.00 321 .00 Synovis Life Technologies Inc 4,126.90 05/08/2003 3,450.75 03/14/2003 676.15 0.00 3,153.00 United Natural Foods Inc 81.900.69 05/08/2003 87.938 .12 OV24/2003 (6,037 .43) 0.00

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Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 26 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Prernium Discount)

1,677.00 United Natural Foods Inc 42,636 .73 05108/2003 46,735.14 04/04/2003 (4,098.41) 0.00 1,476.00 United Natural Foods Inc 37,526.42 05/08/2003 41,16608 04/24/2003 (3,63966) 0.00 2,459.00 Omega Protein Corp . 11,939 .18 05/09/2003 12,616.95 03/07/2003 (677 .77) 0.00 2,361.00 Omega Protein Corp . 11,463 .36 05/0912003 11,794.54 03/1112003 (331 .18) 0.00 733.00 Omega Protein Corp . 3,465.97 05/12/2003 3,661.75 03/11/2003 (195.78) 0.00 162.00 Biolase Tech Inc 1,787.49 05/13/2003 1,312.36 03/17/2003 475.13 0.00 4,434.00 Biolase Tech Inc 48,924 .21 05/13/2003 36,697.11 03/18/2003 12,227 .10 0.00 3,711 .00 Digene Corporation 79,490 .70 05/13/2003 55,577.99 02107/2003 23 .912.71 0.00 1,977.00 Eresearch Technology Inc. 59,706 .15 05/13/2003 48,439.07 03/11/2003 11,267 .08 0.00 10,331 .00 Exult Inc 79,950 .25 05/1312003 65,240.77 02/24/2003 14,709 .48 0.00 4,457.00 Exult Inc 34,492 .14 05/13/2003 28,252.04 02125/2003 6,240.10 0.00 3,396.00 FINDWHAT.COM 36,280 .83 05113/2003 30,434.95 03/11/2003 5,945.88 0.00 2,037.00 FINDWHAT.COM 21,762 .09 05/1312003 18,031 .32 03/12/2003 3,730.77 0.00 5,133.00 FINDWHAT.COM 54,837 .89 05/13/2003 53,371 .42 03/27/2003 1,466.47 0.00 4,555.00 Kensey Nash Corp 97,244.67 05/13/2003 104,75042 04/22/2003 (7,505.75) 0.00 4,395.00 Netease corn Inc. ADR 116,213 .72 05/1312003 11,513.74 08/2112002 104,699 .98 000 3,685.00 Netease.corn Inc. ADR 97,439 .72 05/13/2003 9,712.44 08/22/2002 87,727 .28 0.00 981 .00 Omega Protein Corp. 4,614.07 05/13/2003 4,900.65 03/11/2003 (286.58) 0.00 687 .00 Omega Protein Corp. 3,231 .26 05/13/2003 3,375.73 03/1212003 (144.47) 0.00 243 .00 Portfolio Recovery Associate 6,2" .80 05/13/2003 4,419.61 11/1812002 1,825.19 0.00 1,004-00 Radica Games Ltd 6,646.16 05/13/2003 8,104.35 05/07/2003 (1,458 .19) 0.00 1,541 .00 Radica Games Ltd 10,200.93 05/13/2003 12,512.92 05/0812003 (2,311 .99) 0.00 3.818.00 Synovis Life Technologies Inc 50,891 .54 05/1312003 39,356 .20 0212412003 11,535 .34 0.00 1.549.00 United Natural Foods Inc 39,420 .20 05/1312003 43,168 .00 04/0412003 (3,747.80) 0.00 1,612.00 United Natural Foods Inc 41,023.47 05/13/2003 43,846.40 04115/2003 (2,822.93) 0.00 3,769.00 Usana Inc 105,885 .45 05/13/2003 91,589.34 04/15/2003 14,296.11 0.00 2,752.00 Biolase Tech Inc 31,188 .34 05/14/2003 20,960 .64 03/06(2003 10,227 .70 0.00 5.887.00 Biolase Tech Inc 66,717.22 05114/2003 47,690.62 03/17/2003 19,026 .60 0.00 1,216.00 Eresearch Technology Inc. 36,802.82 05/14/2003 28,865 .53 03/0612003 7,937.29 000 1,636.00 Eresearch Technology Inc. 49,514 .32 05/14/2003 40,084.13 03/11/2003 9,430.19 0.00 6,466.00 Exult Inc 51,172.43 05/14/2003 40,833 .10 02/24/2003 10,339.33 0.00 19.00 Omega Protein Corp. 9081 05/14/2003 93 .36 03/12/2003 (2.55) 0.00 2,783.00 Possis Medical Inc. 46,019 .19 05/14/2003 39,073 .32 11/1312002 6,945.87 0.00 250.00 Possis Medical Inc. 4,133.96 05/14/2003 3,572.50 11/15/2002 561 .46 0.00 189 .00 Possis Medical Inc. 3,125.27 05/1V2003 2,719.60 11/19/2002 405.67 0.00 1,138.00 Portfolio Recovery Associate 29,014.68 05/1412003 19,307.19 11/1412002 9,707.49 0.00 585.00 Portfolio Recovery Associate 14,915.28 05/1412003 10,126 .70 11/15/2002 4,788.58 0.00 204.00 Portfolio Recovery Associate 5,201.23 05/14/2003 3,710.29 11/18/2002 1,490.94 000 61 .00 Radica Games Ltd 380.49 05/14/2003 487 .24 05/0612003 (106.75) 0.00 6,918.00 Radica Games Lid 43,151 .83 05/1412003 55,842.54 05107/2003 (12,690.71) 0.00 1,440.00 Synovis We Technologies Inc 18,600.90 05/14/2003 14,843 .62 02/2412003 3,757.28 0.00 1,724 .00 Synovis life Technologies Inc 22,269.41 05/14/2003 17,746.68 03/11/2003 4,52273 0.00 Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 27 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss Premium Discount

1,970.00 Usana Inc 55,436 .15 05/1412003 37,819 .07 03/1&-2003 17,617 .08 ROD 1,961 .00 Usanalnc 55,18289 05/1412003 37,946 .13 03/28/2003 17,236.76 0.00 26600 Usanalnc 7,485.29 05114/2003 6,463.99 04/15/2003 1,021.30 0.00 1,862.00 Omega Protein Corp . 8,614.89 05/15/2003 9,149.36 03/12/2003 (534 .47) 0.00 245.00 Portfolio Recovery Associate 6,189.12 05/15/2003 3,891 .26 11/11/2002 2,297.86 0.00 835.00 Portfolio Recovery Associate 21,09353 05/1512003 13,594 .55 11/13/2002 7,498.98 0.00 807.00 Portfolio Recovery Associate 20,386 .20 05/15/2003 13,691 .48 11/14/2002 6,694.72 0.()0 2,703.00 Radica Games Ltd 16,445 .67 05/1512003 21,590 .21 05/06/2003 (5,14454) 0.00 4,375.00 Netease .corn Inc. ADR 122,383 .13 05/16/2003 11,113 .99 08/20/2002 111,269.14 0.00 2,025.00 Netease.com Inc. ADR 56,645 .90 05/1612003 5,304.97 08/21/2002 51,34093 000 1,507.00 Omega Protein Corp. 6,908.78 05/1612003 7,404.98 03/1212003 (496 .20) 0.00 1,262.00 Sohu com Inc. 26,841 .48 05/1612003 5,002.71 11/05/2002 21,838.77 0.00 5,63000 Sohu com Inc. 119,935 .88 05/1612003 90,564 .60 04/24/2003 29,371 .28 0.00 3,725.00 Finish Une - Cl. A 60,528 .40 05/1912003 61,064 .67 M2/2003 (536 .27) 0.00 1,340-00 Finish Une - Cl. A 21,773 .97 05119/2003 22,120 .05 04/23/2003 (346 .08) 0.00 8,144.00 Microserni Corp. 90,824.79 05/19/2003 82,971 .07 03/13/2003 7,853.72 0.00 5,435.00 Microserni Corp. 60,613 .06 05/19/2003 59,445 .02 03/1912003 1,168.04 0.00 2,714.00 Microserni Corp. 30,267 .50 05/1912003 28,912 .51 03/26/2003 1,35499 0.00 4,767.00 Portfolio Recovery Associate 128,199-57 05/19/2003 75,712 .83 11/11/2002 52,486.74 0.00 1.938.00 Radica Games Ltd 11,575 .18 05/19/2003 15,284.62 05/05/2003 (3,709 .44) 0.00 493.00 Radica Games Ltd 2,944.56 05/1912003 3,937.84 05/06/2003 (993 .28) 0.00 1,296.00 Synovis Life Technologies Inc 16,899 .04 05/19/2003 13,340.89 03/11/2003 3,558.15 0.00 203.00 Usanalnc 5,665.46 05/19/2003 3,897.09 03/18/2003 1,768.37 0.00 2,330.00 Usanalnc 65,027 .24 05119/2003 44,666.10 03/27/2003 20,361 .14 0.00 4,736.00 Finish Une - Cl. A 79,588 .52 05/20/2003 76,486 .40 04/07/2003 3,102.12 0.00 2,992.00 Finish Une - Cl. A 50,280 .58 05120t2003 47.961 .76 04/15/2003 2,318.82 000 51.00 Finish Une - Cl. A 857 .06 05120/2003 836 .05 04/2212003 21 .01 0.00 487.00 Radica Games Ltd 2,831 .94 05/20/2003 3,269.85 04/21/2003 (43801) 0.00 5,889.00 Radicat Games Lid 34,243 .70 05/20/2003 44,521 .46 04/29/2003 (10,277 .76) 0.00 3,159.00 Radica Games Ltd 18,369 .14 05120/2003 23,753 .47 04/30/2003 (5,384.33) 0.00 2,352.00 Radica Games Lid 13,676 .55 05/20/2003 17,866.03 05/0112003 (4,189 .48) 0.00 652.00 Radica Games Ltd 3,791 .29 0512012003 5,142.19 05/0512003 (1,350 .90) 0.00 1,65900 Synovis We Technologies Inc 22,101 .65 05/20/2003 16,529 .61 03/04/2003 5,572.04 0.00 1,374.00 Synovis We Technologies Inc 18,304 .80 0512012003 14,143 .82 03/11/2003 4,160.98 0.00 1,046.00 Usana Inc 29,08883 05/20/2003 19,507 .90 03/17f2OO3 9,580.93 000 1,726.00 Usana Inc 47,999 .35 05/2012003 33,087 .42 03/27/2003 14,911 .93 0.00 2,44600 Radica Games LAd 14,478 .17 05/21/2003 16,107 .29 03/28/2003 (1,629 .12) 0.00 2,917.00 Radica Games Ltd 17,266 .08 05/2112003 19,585 .54 04/21/2003 (2,319 .46) 0.00 2,782.00 Synovis Ufe Technologies Inc 39,975 .45 05121/2003 27,718 .74 03/0412003 12,256.71 0.00 3,113.00 Radica Games Ud 18,208 .39 05/22/2003 20,285 .99 03/27/2003 (2 .077 .60) 0.00 6,299.00 Radica Games Ltd 36,843.76 05/22/2003 41,479 .89 03128/2003 (4,636.13) 0.00 214.00 Acres Gaming Inc. 1,811 .69 05/2312003 1,627.79 03/31/2003 183 .90 0.00

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Sale Purchase Realized Unarnortized Bond Ouantity Security Descripti2_n Proceeds Date Cost Date Gain (- Loss) Premium Discount)

2,595.00 Acres Gaming Inc. 22,002.71 05/23/2003 20,185 .39 04/01/2003 1,817.32 0.00 4,827.00 Acres Gaming Inc. 40,864.59 05/2312003 39,017.64 04107/2003 1,846.95 0.00 481 .00 Ascential Software Corp 1,753.90 05/2312003 1,932.51 04/24/2003 (178 .61) 0.00 18,488 .00 Ascential Software Corp 67,413 .97 05/23/2003 75,654.63 04/25/2003 (8,240.66) 0.00 3,098.00 Ascential Software Corp 11,296.44 05123/2003 12,081 .62 04/3012003 (785 .18) 0.00 10,142 .00 Ascential Software Corp 36,981 .42 05/23/2003 40,302 .96 05/0112003 (3,321 .54) 0.00 3,349.00 Ascential Software Corp 12,21167 05/23/2003 13,455 .50 05/0212003 (1,243 .83) 0.00 2,525.00 Ascential Software Corp 9,207.07 05123/2003 10,098 .70 05/05/2003 (891 .63) 0.00 5,537 00 Ask Jeeves Inc 66,069.30 05/23/2003 32,847 .41 02/03/2003 33,22189 0.00 207.00 Ask leeves Inc 2,469.99 05/23/2003 1,211 .75 02/04/2003 1,258.24 0.00 3,459.00 Ask Jeeves Inc 41,273.92 05/2312003 41,903 .02 05/1612003 (629.10) 0.00 99900 Ask Jeeves Inc 11,92040 05/23/2003 11,357 .93 05/19/2003 562.47 0.00 1,250.00 Nil Holdings Inc - Cl B 44,11293 05/2312003 23,631 .25 02127/2003 20,481 .68 0.00 3,846.00 Nil Holdings Inc - C1 B 135,726.65 05/23/2003 79,826 .04 02/28/2003 55,90061 0.00 3,83000 Radica Games Ud 21,223.45 05/23/2003 24,958 .35 03/27/2003 (3,734.90) 0.00 2,821 .00 Acres Gaming Inc. 23,502.61 05/2712003 21,457 .94 03131/2003 2,0".67 0.00 15,847 .00 Ascential Software Corp 59,891 .26 05/27/2003 61,265 .68 04/22/2003 (1,374.42) 000 2,152.00 Ascential Software Corp 8,133.15 05/27/2003 8,435.44 04123/2003 (302.29) 0.00 10,144 .00 Ascential Software Corp 38,337.67 05127/2003 38,817 .52 04/29/2003 (479.85) 0.00 7,642.00 Ascential Software Corp 28,881 .75 05/27/2003 29,802.37 04/30/2003 (92062) 0.00 942.00 Hooker Furniture Corp 25,452.40 05/27/2003 29,28678 05/13/2003 (3 .834 .38) 0.00 583.00 Hooker Furniture Corp 15,752.38 05/27/2003 17.997 .21 05/14/2003 (2,244 .83) 0.00 2,552.00 Netease .com Inc. ADR 79,620 .70 05/27/2003 6,482.95 08/20/2002 73,137.75 0.00 595.00 Radica Games Ltd 3,291 .65 05/2712003 3,877.34 03/27/2003 (585 .69) 0.00 1,938.OD Radica Games Ltd 10,721 .37 05/27/2003 12,273.55 03/31/2003 (1,552 .18) 0.00 638 .00 Radica Games Ltd 3,529.53 05/27/2003 4,040.52 04101/2003 (51099) 0.00 6,226.00 Radica Games Lid 34,443 .36 05/27/2003 40,132 .01 04/02/2003 (5,688 .65) 0.00 1,478.00 Radica Games Ltd 8,176.56 05/27/2003 9,574.78 04/15/2003 (1,398 .22) 0.00 6,409.00 Aquantive Inv 47.064.99 05/2812003 48,051 .63 05/05/2003 (98664) 0.00 12,434.00 Aquantive Inv 91,310 .05 05128/2003 95,348 .46 05/14/2003 (4,038 .41) 0.00 3,994.00 Aquantive Inv 29,330 .25 05/28/2003 31,751 .08 05/15/2003 (2,420.83) 0.00 3,324.00 Ile Bombay Company Inc. 30,281 .40 05/28/2003 13,438 .36 11/14/2002 16,843 .04 0.00 6,095.00 Ile Bombay Company Inc. 55,525 .01 05/28/2003 24,90067 11/15/2002 30,624 .34 0.00 447.00 Ile Bombay Company Inc. 4,072.14 05/28/2003 1,84028 11/20/2002 2,231 .86 000 5,435.00 The Bombay Company Inc. 49,512 .46 05/28/2003 30,88122 03/27/2003 18,631 .24 0.00 7,140.00 The Bombay Company Inc. 65,044 .89 05/28/2003 41,180 .05 03/2812003 23,864 .84 0.00 20,445.00 ne Bombay Company Inc. 186,25248 05/28/2003 143,838 .68 04/11/2003 42,413 .80 0.00 2,946.00 Closure Medical Corporation 55,442 .87 05/2812003 64,704 .77 05/05/2003 (9,261 .90) 0.00 1,471.00- Closure Medical Corporation 27,683 .80 05/28/2003 31,688 .87 05/07/2003 (4,005 .07) 0.00 388-00 Eresearch Technology Inc. 14,103 .10 05/28/2003 8,788.70 03/05/2003 5,314.40 0.00 2,485.00 Eresearch Technology Inc. 90,325 .25 05128/2003 58,989 .18 03/06(2003 31,336 .07 0.00 1,986-00 Hi-Tech Pharmacal Co. Inc. 70,392 .45 0512812003 31,529 .32 12/17/2002 38,863 13 000 Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 29 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Descrintion Proceeds Date cost Date Gain (- Loss) Premium Discount) 3,130.00 Hi-Tech Pharmacal Co. Inc. 110,940.77 0512812003 49,285 .76 12/1812002 62,65501 000 1,988.00 Hooker Furniture Corp 53,448 .25 05128/2003 55,584.48 04107/2003 (2,136 .23) 0.00 1,501.00 Hooker Furniture Corp 40,35504 05/28/2003 41,097 .38 04115/2003 (742 .34) 0.00 308 .00 Hooker Furniture Corp 8,28071 05/2912003 9,507.96 05/14/2003 (1,227 .25) 0.00 5,309.00 Netease.com Inc. ADR 167,544-17 05/28/2003 13,072 .60 08/14/2002 154,471 .57 0.00 1,165.00 Netease .com Inc. ADR 36,765 .67 05128/2003 2,982.07 08/15/2002 33,783 .60 0.00 1,288.00 Netcase .corn Inc. ADR 40,647 .37 05/2812003 3,271.96 08120(2002 37,375 .41 0.00 2,973.00 Packeteer Inc 47.357.66 05/28/2003 45,440.52 05/13/2003 1,917.14 0.00 4,874.00 Packeteer Inc 77,639 .16 05/28/2003 74,232.48 05/19/2003 3,40668 0.00 1,045.00 Radica Games Ltd 5,747-52 05/28/2003 6,618.09 04/01/2003 (870.57) 0.00 2,888.00 Radica Games Ltd 15,884 .06 05/28/2003 18,014.53 04/16/2003 (2,130.47) 0.00 802 .00 Radica Games Ud 4,411.02 05/2812003 4,969.75 04/17/2003 (558 .73) 0.00 8,187.00 Tradestation Group Inc 66,506 .69 05/28/2003 53,747.14 05/05/2003 12,759.55 0.00 3,767.00 Tradestation Group Inc 30,601 .04 05/28/2003 23,520.86 05/06/2003 7,080.18 0.00 1,869.00 Usanalnc 62,271 .41 05128/2003 34,202.70 03/1112003 28,068.71 0.00 311 .00 Usanalnc 10,361 .91 05/2812003 5,800.15 03/17/2003 4,561.76 0.00 9,216.00 The Bombay Company Inc. 83,714.63 05129/2003 32,809.51 11/11/2002 50,905 .12 0.00 4,705.00 Tle Bombay Company Inc. 42,738 .42 05/2912003 17,523 .18 11/1212002 25,215 .24 0.00 1,308.00 Ile Bombay Company Inc. 11,881 .37 05/29/2003 5,036.32 11/13/2002 6,945.05 0.00 3,188.00 The Bombay Company Inc. 28,958 .57 05129/2003 12,888.54 11/1412002 16,070 .03 0.00 2,012.00 Closure Medical Corporation 36,717 .27 05129/2003 43,343.31 05/07f2OO3 (6,626.04) 0.00 2,801.00 Tradestation Group Inc 22,739 .11 05/2912003 13,249.83 04/15/2003 9,489.28 0.00 3,397.00- Tradestation Group Inc 27,577 .57 05/29/2003 21,210.61 05/0612003 6,366.96 0.00 1,392.00 Usana Inc 48,786.75 05129/2003 25,473.60 03/1112003 23,313 .15 0.00 53.00 Closure Medical Corporation 974.09 05/3012003 1,141.75 05/07/2003 (167 .66) 0.00 696.00 Closure Medical Corporation 12,791 .88 05/30/2003 14,701 .82 05/19/2003 (1,909.94) 0.00 1,017.00 Closure Medical Corporation 18,711 .91 0610212003 21,482.40 05/19/2003 (2,770.49) 0.00 327 .00 Closure Medical Corporation 6,016-52 0610212003 6,805.16 05/2012003 (788.64) 000 3,345.00 Hi-Tech Pharmacal Co. Inc. 116,231-62 06/02/2003 50,621 .00 12/16(2002 65,610 .62 0.00 234 .00 Hi-Tech Pharmacal Co. Inc. 8,131.00 0610212003 3,609.86 12/18/2002 4,521 .14 0.00 13,794 .00 Biolase Tech Inc 199,575 .91 06103/2003 101,869.36 02/05/2003 97,706 .55 0.00 8,870.00 Biolase Tech Inc 128,333.94 06103/2003 64,523.34 0212112003 63,810 .60 0.00 4,068.00 Biolase Tech Inc 58,857 .10 06/0312003 30,983.97 03/0612003 27,873 .13 000 598 .00 Closure Medical Corporation 11,122.28 06103/2003 10,608.52 04/29/2003 513.76 0.00 3,299.00 Closure Medical Corporation 61,339-91 06/03/2003 59,034.20 04/30/2003 2,305.71 0.00 76.00 Closure Medical Corporation 1,413.53 06103/2003 1,581.63 05120/2003 (16810) 0.00 9,160.00 Sohu com Inc. 245,649.58 06103/2003 36,311 .29 11105/2002 209,338 .29 0.00 3,583.00 Usana Inc 136,864.17 06103/2003 64,266.84 01/30/2003 72,597 .33 0.00 307 .00 Usanalnc 11,726.85 06/0312003 5,618.10 03/11/2003 6,108.75 0.00 10,71200 Vital Images Inc 151,100.40 06/03/2003 152,072.42 04/24t2003 (972.02) 0.00 587.00 Closure Medical Corporation 11,084.97 06tO4/2003 10,107.67 0412412003 977.30 0.00 43 1.00 Closure Medical Corporation 8,139.05 06/0412003 7,385.70 04125/2003 753.35 0.00

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Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 30 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Descrig)ti2n Proceeds Date cost Date Gain (- Loss) Premium Discount) 2,882.00 Closure Medical Corporation 54,424.01 06(04/2003 51,126 .68 OV29/2003 3,297.33 0.00 2,701.00 Candela Corp. 31.915.62 06104/2003 31,280 .40 05/13/2003 635.22 0.00 8,192.00 Candela Corp. 96,798.51 06104/2003 99,71000 06/02/2003 (2,911 .49) 0.00 2,280.00 Hi-Tech Pharinacal Co. Inc. 79,616 .82 06104/2003 34,504 .00 12/16(2002 45,112 .82 0.00 507 .00 Hooker Furniture Corp 13,754 .26 W0412003 13,881 .66 04/15/2003 (127.40) 0.00 4,499.00 Nil Holdings Inc - C1 B 157.885 .89 06t0412003 83,005 .20 02/1212003 74,880.69 0.00 2,265.00 Nil Holdings Inc - C1 B 79,48689 06104/2003 42,819 .83 02/27/2003 36,667 .06 0.00 1,800.00 Packeteer Inc 27,412 .70 06104/2003 27,414 .54 05/19/2003 (1.94) 0.00 8.00 Usana Inc 301 .67 W0412003 143 .49 01/30/2003 158 .18 0.00 1,781 .00 Usanalnc 67,158.35 06tO4/2003 30,111 .37 02/2512003 37,046 .98 0.00 11,690.00 Align Technology Inc 117,677.07 06105/2003 102,109 .61 05/14/2003 15,567 .46 000 935.00 Aquantive Inv 7,373.14 06105/2003 6,192.56 04/30/2003 1,180.58 0.00 2,372.00 Aquantive Inv 18,704 .91 06105/2003 17,784 .13 05/05/2003 920.78 0.00 5,044.00 Aquantive Inv 39,775 .53 06105/2003 36,903 .29 05/0612003 2,872.24 0.00 3,598.00 Aquantivc Inv 28,372 .79 06105/2003 25,869 .19 05/07/2003 2,503.60 0.00 771 .00 Aquantive Inv 6,079.88 06105/2003 5,782.50 05/13/2003 297 .38 0.00 1,429.00 Biolasc Tech Inc 20,878 .71 06/05/2003 10,395 .02 02121/2003 10,483 .69 0.00 7,482.00 Biolase Tech Inc 109,317 .34 06105/2003 54,365 .95 02/2412003 54,951 .39 0.00 1.00 Cash in Ueu - Short Term 10.50 0610512003 0.00 06105/2003 10.50 0.00 2,430.00 Closure Medical Corporation 47,806 .06 06(05/2003 39,990.02 04/22/2003 7,816.04 0.00 3,500.00 Closure Medical Corporation 68,856 .46 06105/2003 59,785 .60 04/23/2003 9,070.86 000 389.00 Closure Medical Corporation 7,652.90 06(05/2003 6,665.98 04/25/2003 986.92 0.00 4,681.00 Eresearch Technology Inc. 88,684 .85 06(05/2003 53,015 .37 03/05/2003 35,669.48 0.00 941 .00 Hooker Furniture Corp 22,209 .77 06105/2003 19,797 .39 03/19/2003 2,412.38 0.00 705.00 Hooker Furnimm Corp 18,618 .17 06105/2003 16,918 .66 03121/2003 1,699.51 0.00 1,302.00 Hooker Furniture Corp 34,384 .20 0610512003 30,785 .01 03/24/2003 3,599.19 0.00 874.00 Hooker Funfitum Corp 23,081 .26 06105/2003 20,020.54 03/25/2003 3,060.72 0.00 593.00 Hooker Furniture Corp 15,660 .39 0610512003 14,578 .07 03127/2003 1,082.32 0.00 1,784.00 Hooker Furniture Corp 47,113 .23 06105/2003 47,645 .29 03/2812003 (532 .06) 0.00 660.00 Hooker Furniture Corp 17,429 .78 06105/2003 18,070.80 04/15/2003 (641 .02) 0.00 3,628.00 Medifast Inc 52,813 .57 06105/2003 34,706.90 05/14/2003 18,106.67 0.00 654.00 Medifast Inc 9,520.42 06105/2003 6,16463 05/15/2003 3,355.79 0.00 2,341 .00 Medifast Inc 34,078 .43 06/05/2003 22,496.78 05/1612003 11,581 .65 000 506.00 Medifast Inc 7,365.95 06/05/2003 7,006.08 06104/2003 359.87 0.00 3,181 .00 Netcase com Inc. ADR 108,39289 06105/2003 7,832.73 09/14/2002 100,560.16 0.00 1,904.00 Packeteer Inc 29,052 .15 06t05/2003 26,40658 05/05/2003 2,64557 000 1,620.00 Packeteer Inc 24,718 .74 06tO5/2003 24,496.18 05/1612003 222.56 0.00 3,208.00 Packeteer Inc 48,949 .20 06/05/2003 48,858 .80 05/19/2003 90.40 0.00 396.00 Packeteer Inc 6,042.36 06(05/2003 5,920.32 05f2012003 122.04 0.00 2,546.00 Tradestation Group Inc 21,402 .30 0610512003 10,006.22 04/07/2003 11,396.08 0.00 7,095.00 Tradestation Group Inc 59,64232 06/05/2003 33,562.15 04/15/2003 26,080.17 0.00 671 .00 Usanalnc 25,765 .19 06/05/2003 11,344.60 02125/2003 14,420.59 0.00 Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 31 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond 0112916tV Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

702 .00 Closure Medical Corporation 14,671 .11 0610612003 11,552.67 04/22/2003 3,118.44 0.00 1,828 .00 Medifast Inc 26,194.18 0610612003 17,230 .79 05115/2003 8,963 .39 0.00 2,109 .00 Tradestation Group Inc 17,546-67 06106t2003 7,331 .17 03/28/2003 10,215.50 0.00 9,604 .00 Tradestation Group Inc 79,904 .33 06/06/2003 37,745.36 04/0712003 42,158.97 0.00 3,105 .00 Tradestation Group Inc 25,833 .29 06/06/2003 11,79742 04/08/2003 14,035 .87 0 .00

1,127 .00 Usana Inc 42,60919 06106/2003 19,054 .19 02/25f2003 23,555 00 0.00 1,351 .00 Packetecr Inc 19,909 .02 06/10/2003 16,681 .88 04/22r2003 3,227 .14 0 .00 1,097.00 Packeteer Inc 16,165 .95 06110/2003 15,214.29 05/0512003 951 .66 0.00 1,170.00 Packeteer Inc 17,126.94 06/11/2003 14,44693 04/2212003 2,680 .01 0 .00 839.00 Packeteer Inc 12,281-62 06/1112003 10,135.71 04/23/2003 2,145.91 0.00

387.00 Ask leeves Inc 4,837 .27 06/1212003 2,265 .44 02104/2003 2,571 .83 0 .00 391 .00 Central European Distribution Corp. 9,270 .17 06112f2003 9,619.50 0611112003 (349 .33) 0.00 1,001 .00 Fremont Gen Corp 13,371 .02 06112/2003 10,805 .62 05/0612003 2,565 .40 000 4,538 .00 Fremont Gen Corp 60,642 .92 06(12/2003 47,60362 05/05/2003 13,039.30 0.00 5,716.00 Fremont Gen Corp 76,384 .96 0611212003 61,703 .23 05/0612003 14,681 .73 0 .00

1,262 .00 Fremont Gen Corp 16,864-56 06/1212003 13,06296 05/0&'2003 3 .801 .60 0.00 2,27000 Inkine Pharmaceutical Co 7,111 .18 06112r2003 5,544.03 11127/2002 1,567.15 0 .00 238 .00 New Century Rol Corp 11,033 .16 0611212003 10,420.02 05/13/2003 613.14 0 .00 3,850.00 Nil Holdings Inc - Cl B 134,195 .08 06(1212003 71,031 .35 02/12/2003 63,163.73 0 .00 2,666.00 Packeteer Inc 38,383 .79 06112/2003 32,207 .15 04123/2003 6,176 .64 0 .00

1,152 .00 Staar Surgical Co. 12,377 .65 06112/2003 13,73080 05/15/2003 (1,353 .15) 0.00 10,327 .00 Ask Jeeves Inc 127,974 .19 06/13/2003 53,683 .50 01/31/2003 74,290 .69 0 .00 2,896 .00 Ask Jeeves Inc 35,887 .80 06/13/2003 16,952.74 02/0412003 18,935.06 0.00 5,945 .00 Biolase Tech Inc 80,005 .82 06113/2003 42,706.60 02/11/2003 37,299 .22 0 .00 699 .00 Biolase Tech Inc 9,406 .91 06/13/2003 5,079.10 0212412003 4,327.81 0.00

3,498 .00 Eresearch Technology Inc . 67,697 .45 06113/2003 38,075.73 03/0412003 29,621 .72 0 .00 5 .929 .00 Eresearch Technology Inc. 114,745 .06 06/13/2003 67,149.78 03/05/2003 47,595 .28 0.00 3,940.00 Fremont Gen Corp 54,755 .31 06/13/2003 36,954.23 04/30/2003 17,801 .08 0.00 2,115 .00 Fremont Gen Corp 29,392 .76 06113/2003 21,89237 0510&'2003 7,500.39 0.00 7,086 .00 Fremont Gen Corp 98,476 .17 06/13/2003 71,219.76 05/13/2003 27,256.41 000

808 .00 Nil Holdings Inc - C1 B 27,398 .88 0611312003 10,887.80 12110/2002 16,511 .08 0.00 3,008 .00 Nil Holdings Inc - C1 B 101,999 .79 06/13/2003 39,604.53 01/07/2003 62,395 .26 0.00 720 .00 Nil Holdings Inc - C1 B 24,414 .84 06/13/2003 13,283.78 02/12/2003 11,131 .06 0.00 880 .00 Biolase Tech Inc 11,393 .61 06/16/2003 6,32158 02/11/2003 5,072.03 0.00 988 .00 Biolase Tech Inc 12,791 .92 06/1612003 6,90582 02/1912003 5,886.10 0.00

58 .00 N I I Holdings Inc - Cl B 2,000-96 06116/2003 74820 1210412002 1,252.76 0.00 414 .00 Nil Holdings Inc - Cl B 14,282-69 06/16/2003 5,423.40 12/0612002 8,859.29 0.00 47 .00 Nil Holdings Inc - C1 B 1,621 .47 06116/2003 618.82 01/0712003 1,002 .65 0.00 1,368 .00 Biolase Tech Inc 16,525 .62 06/1712003 9,414.10 02/18/2003 7,111 .52 0.00 2,156 .00 Biolase Tech Inc 26,044.76 06/17/2003 15,069.79 02tl9/2003 10,974.97 0.00

2,605 .00 Candela Corp. 27,211 .84 06/17/2003 30.168.62 05/13/2003 (2,956 .78) 0.00 4,80-1 .00 Biolase Tech Inc 59,637 .96 0611 &'2003 33 .052.56 02/18/2003 26,585 .40 0.00

0 4P 0 ---0 0- lp 0 0 .0 0 0 0 0 0 0 0

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Sale Purchase Realized Unarnortized Bond Ouantity Security Descriytl2n Proceeds Date Cost Date Gain (- Less) Premium Discount)

738 .00 Biolase Tech Inc 9,163.61 0611&'2003 5,033.68 02/2012003 4,129.93 0.00 3,171 .00 Candela Corp. 34,504.24 06/18/2003 36,080 .27 05/05/2003 (1,576.03) 0.00 862-00 Candela Coip . 9,379.58 06t 1 &'2003 9,98286 05/1312003 (603.28) 0.00 4,981 .00 Fremont Gen Corp 71,260.80 06118/2003 45,892 .29 04129/2003 25,368 .51 0.00 4,129.00 Fremont Gen Corp 59,071 .64 0611812003 38,726 .91 04/30/2003 20,344 .73 0.00 4,457.00 Fremont Gen Corp 63,159.40 06/19/2003 41,064 .43 04/29/2003 22,094.97 0.00 4,282.00 Antigenics Inc. 51,754.51 06/2Of2OO3 57.935 .46 06/04/2003 (6,180.95) 0.00 2,013.00 American Home Mtg Holdings 37,707.75 06/20/2003 34,975 .88 06/05/2003 2,731.87 0.00 1.215 .00 American Home Mtg Holdings 22.759.52 06/20/2003 20,402 .89 0610212003 2,356.63 0.00 6,728-00 American Home Mtg Holdings 126,029 .69 0612012003 113,778 .55 06/0412003 12,251 .14 0.00 1,768-00 American Home Mtg Holdings 33,118.39 06120/2003 30,719 .00 06/05/2003 2,399.39 0.00 2,118.00 American Home Mtg Holdings 39,674.63 06(20(2003 35,994 .99 06109/2003 3,679.64 0.00 6,714.00 Akamai Technologies Inc 36,927.18 06/2012003 34,774 .63 0611212003 2,152.55 0.00 5,893-00 Akamai Technologies Inc 32,411 .65 06/20/2003 29,829 .19 06/13/2003 2,582.46 0.00 2,678-00 Akamai Technologies Inc 14,729 .07 06120/2003 13,802 .76 06/1612003 926.31 0.00 1,657-00 Akamai Technologies Inc 9,113.54 06/2012003 8,781 .81 06117/2003 331 .73 0.00 1,97400 Akamai Technologies Inc 10,857 .05 0612012003 10,500.61 0611812003 356.44 0.00 1,263.00 Akamai Technologies Inc 6,946.53 0612012003 7,374.91 06119/2003 (428.38) 0.00 5,854-00 Akamai Technologies Inc 32,197 .15 06120/2003 33,283 .08 06/20/2003 (1,085 .93) 0.00 1,690-00 Align Technology Inc 19,729.88 0612012003 11,449 .61 04/02/2003 8,280.27 0.00 6,877.00 Align Technology Inc 80,285 .43 06(2012003 46,913 .71 04/1512003 33,371 .72 0.00 2,825-00 Align Technology Inc 32,980 .42 06120/2003 24,688 .24 05/13/2003 8,292.18 0.00 20.00 Align Technology Inc 233.49 0612012003 174.70 05/14/2003 58.79 0.00 3,546-00 Aquantive Inv 36,223 .72 06/20/2003 23,416 .57 04/29/2003 12,807.15 0.00 2.697 .00 Aquantive Inv 27,550 .86 06/2012003 17,86240 04130/2003 9,688.46 0.00 4,938.00 Aquantivelnv 50,443 .52 06120/2003 52,364 .53 0612012003 (1,921 .01) 000 2,031 .00 AT Road Inc 22,708 .31 06/20/2003 20,898 .99 06117/2003 1,809.32 000 2,964.00 AT Road Inc 33,140 .05 06/20/2003 32 .929 .15 06/1812003 210.90 0.00 916-00 AT Road Inc 10,241 .66 W20/2003 10,528 .41 06119/2003 (286 .75) 000 8,893-00 Ask Jeeves Inc 116,232 .76 06/20/2003 46,229 .05 01/31/2003 70,003 .71 0.00 3,282-00 Centi-al European Distribution Corp. 69,082 .85 0612012003 72,089 .13 05113/2003 (3,006.28) 000 3,577-00 Central European Distribution Corp. 75,292 .31 06/20/2003 85,883 .77 06/10/2003 (10,591 .46) 0.00 5,25600 Central European Distribution Corp. 110,633 .59 06f20(2003 129 .309 .69 0611112003 (18,676.10) 0.00 3,629-00 Candela Corp . 38,421 .30 0612012003 41,20640 05/01/2003 (2,785 .10) 0.00 1,511.00 Candela Corp . 15,997 .41 0620/2003 17,192 .46 05/05/2003 (1,195.05) 0.00 4,985-00 Cell Therapeutics Inc. 49,64227 06/20/2003 66,375 .27 06106/2003 (16,733 .00) 0.00 5,573.00 Cell Therapeutics Inc. 55,547 .04 06120/2003 72,660 .99 05/2812003 (17,113.95) 0.00 1,378-00 Cell Therapeutics Inc. 13,734 .76 06120/2003 18,348 .07 06106/2003 (4,613 .31) 000 5,683-00 Ebookers .com plc-spons ADR 94,786 .36 06/20(2003 99,338 .94 06/12/2003 (14,552.48) 0.00 3,315-00 Ebookers .oom plc-spons ADR 49,457 .47 06120/2003 57 .349 .50 0& 13/2003 (7,892 .03) 0.00 2,629.00 Finish Line - Cl. A 52,945 .57 06/20/2003 42,041 .92 04/02/2003 10,903 .65 0.00 2,697-00 Finish Une - Cl. A 54,315 .02 06120/2003 43,232 .91 04/15/2003 11,082.11 0.00 Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 33 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unarnortized Bond Ouantit Security Description Proceed Date Cost Date Gain (- Loss) Premium Discount)

5,351-00 Finish Une - Cl, A 107,764 .07 0612012003 113,096 .60 06105/2003 (5,332 .53) 0.00 3.181-00 Fremont Gen Corp 44,877 .02 06120/2003 26,784-65 04122/2003 18,092.37 0.00 1,270.00 Fremont Gen Corp 17,916 .95 06/20/2003 11 .701 .11 04/2912003 6,215.84 0.00 12,820.00 Fremont Gen Corp 180,917 .80 06120/2003 107,946 .95 04122/2003 72,970.85 0.00 1,049.00 FINDWHATCOM 20,046 .80 0612012003 20,404 .73 06119/2003 (357 .93) 0.00 1,563-00 Hi-Tech Pharmacal Co. Inc. 64,929.60 06/2012003 23,653 .40 12/1612002 41,276.20 0.00 3,255-00 Vex Oncology Inc 59,534.72 06120/2003 56,509-73 05/28/2003 3,024.99 0.00 13,932 .00 Inkine Pharmaceutical Co 45,977.67 06(2012003 31,381-21 11/21/2002 14,59646 000 4,010.00 Inkine Pharmaceutical Co 13,233 .59 06/20/2003 8,923.24 11/2212002 4,310.35 0.00 21,679 .00 Inkine Pharmaceutical Co 71,543.91 06120(2003 50,280 .37 1112612002 21,263 .54 0.00 4,825-00 Inkine Pharm2ceutical Co, 15,923 .22 06/20/2003 11,784 .11 11/27/2002 4,139.11 000 12,720 .00 Innovex Inc. 130,464.08 06120/2003 127,382 .14 05/1312003 3,081.94 0.00 3,488-00 Innovex Inc. 35,775.06 06/20/2003 34,666-52 05/19/2003 1,108.54 0.00 3,490 00 Accredited Home Lenders 81,218.95 0612012003 62,616 .88 06/02/2003 18,602.07 0.00 2,653-00 Accredited Home Lenders 61,740.37 06/20/2003 38,075 .17 05/22/2003 23,665 .20 0.00 10,891 .00 Accredited Home Lenders 253,454.33 0612012003 185,273-34 05/27/2003 68,180.99 0.00 3,07000 Accredited Home Lenders 71,444.75 06/20/2003 55,08133 06/0212003 16,363 .42 0.00 11,120 .00 Lexar Media Inc. 97,03331 0612012003 88,093-72 06104/2003 8,939.59 0.00 7,264.00 Lexar Media Inc. 63,385 .78 06/20/2003 60,446.37 06106/2003 2,939.41 0.00 393.00 Medifast Inc 5,124.32 06120/2003 3,698.64 05/15/2003 1,425.68 000 2,354.00 Medifast Inc 30,693 .77 06120/2003 22,188-89 05/15/2003 8,504.88 0.00 1,190-00 Microstrategy Inc-C] A 46,028 .35 06120/2003 42,927-82 05/2&-2003 3,100.53 0.00 3,080.00 New Century Fird Corp 134,805 .27 W20/2003 113,374.80 04/22/2003 21,430.47 0.00 2.700-00 New Century Fitil Corp 118,173 .46 0612012003 118,210 .32 05113/2003 (36 .86) 000 289.00 Navigant Consulting Co 3,371.86 06120/2003 3,063.25 06/1312003 308 .61 0.00 9,180.00 Navigant Consulting Co 107,106.25 06120/2003 99,736 .75 06116/2W3 7,369.50 0.00 11,430.00 Navigant Consulting Co, 133,357 .78 06(2012003 135,013.11 0611 &'2003 (1,655.33) 0.00 2,794.00 Navigant Consulting Co 32,598 .57 06/2012003 32,687.84 06119/2003 (89 .27) 000 750.00 Nil Holdings Inc - C1 B 28,509 .76 06120/2003 9,675.00 12104/2002 18,834 .76 0,00 405 .00 Nil Holdings Inc - Cl B 15,395 .27 06/20/2003 5,184.00 12/0512002 10,211 .27 0.00 21600 Nil Holdings Inc - C1 B 8,210.81 06120/2003 2,397.60 11/27/2002 5,813.21 0.00 80800 Nil Holdings Inc - C1 B 30,714 .52 0612012003 9,792.96 11/29/2002 20,921 .56 0.00 605 .00 Nil Holdings Inc - Cl B 22,997 .87 06(20/2003 7,744.00 12fOS/2002 15,253 .87 0.00 3,060.00 Netease .com Inc. ADR 96,038 .49 06120/2003 7,534-78 08/1412002 88,503 .71 0.00 4,281.00 Netease .corn Inc. ADR 134,359 .72 06r2O/2003 10,541-31 08/14/2002 123,818 .41 0.00 1,48800 02Micro International Ud. ADR 22,67605 06120/2003 23,273.96 0610212003 (597.91) 000 4,423.00 02Micro International Ud. ADR 67,403 .34 06120/2003 71,156.34 06106f2003 (3,753 .00) 0.00 762 .00 Omnicell Inc 7,053.08 0612012003 5,426.14 06t0212003 1,626.94 0.00 10,91700 Omnicell Inc 101,047 .83 06120/2003 86,470.14 0610512003 14,577 .69 000 7,480.00 Orn-nicell Inc 69,23493 06/2012003 60,915 .41 061l3f2003 8,31952 0.00 4,398.00 Omnicell Inc 40,707 .92 06/20/2003 35,570.29 06116/2003 5,137.63 000 1,307-00 Osteotech Inc. 16,822.00 06/20/2003 18,428 .70 0610212003 (1,60670) 0.00

0 0 0 0 0 0 0 0 0

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

6,634.00 Osteotech Inc. 85,384 .21 06120/2003 93,804 .76 06104/2003 (8,420 .55) 0.00 1,722.00 Sharper Image Corp. 446,651 .60 06t2012003 46,466 .79 06fl3/2003 184 .81 0.00 1,698.00 Sohu corn Inc. 46,771 .76 06/20/2003 5,53420 1013112002 41,237 .56 0.00 362.00 Schu com Inc. 9,971 .36 06/20/2003 1,435.01 11/05/2002 8,536.35 0.00 4,082.00 Sohu com Inc. 112,439 .53 06/20/2003 16,017 .26 11113/2002 96,422 .27 0.00 2,781 .00 Sonosite Inc. 55,784.23 06/20/2003 63,082.26 05/2912003 (7,298 .03) 000 2.803 .00 Sonosite Inc. 56,225 .53 06/2012003 61,389.34 05/28/2003 (5,163 .81) 0.00 1,064.00 Sonosite Inc. 21,342 .84 0612012003 24,13503 05129/2003 (2,792.19) 0.00 5,033.00 Staar Surgical Co. 53,680.90 06/2012003 50,270.51 05/14/2003 3,410.39 0.00 1.923 .00 Staar Surgical Co. 20,510.30 06120/2003 22,920.43 05/15/2003 (2,410.13) 0.00 6,490.00 SunOpta Inc 41,712.35 06/20/2003 39,341 .09 06102/2003 2,371.26 0.00 297.00 SunOpta Inc 1,908.87 06/20/2003 1,822.15 06/0312003 86.72 0.00 330.00 SunOpta Inc 2,12097 06/2012003 2,022.90 06104/2003 98 .07 0.00 12,687 .00 SunOpta Inc 81,541 .54 06/2012003 82,52686 0611112003 (985.32) 0.00 8,881 .00 SunOpta Inc 57,079.72 06/2012003 58,904 .50 06112/2003 (1,824.78) 0.00 5,694.00 TLC Vision Corp 28,695.28 06/20/2003 30,112 .32 06117/2003 (1,417.04) 0.00 5,643.00 TLC Vision Corp 28,438.27 06120/2003 30,118 .79 06/18/2003 (1,680 .52) 0.00 7,596.00 TLC Vision Corp 38,280.54 06120/2003 39,531 .93 0612012003 (1,251 .39) 0.00 1,503.00 Tradestation Group Inc 14,750.34 0612012003 3,915.73 03/10/2003 10,834.61 0.00 6,773.00 Tradestation Group Inc 66,469 .76 06120/2003 22,257 .15 03126/2003 44,212.61 0.00 837 .00 Tradestation Group Inc 8,214.26 06/2012003 2,904.82 03127/2003 5,309.44 0.00 7.400.00 Tradestation Group Inc 72,623 .09 06/2012003 25,723 .41 03/28/2003 46,899.68 0.00 878 .00 Ultralife Batteries Inc 8,085.99 06/20/2003 8,926.35 06/1612003 (940 .36) 0.00 16,637 .00 ValueCtick, Inc. 101,912 .40 0612012003 89,435 .50 06(02/2003 12,476.90 0.00 19,185 .00 ValucClick. Inc. 117,520 .55 06120/2003 112,62488 06104/2003 4,895.67 0.00 4,761.00 Vistacare Inc-cl A 109,021 .77 06/20/2003 110,943 .68 05/1312003 (1,921 .91) 0.00 1,959.00 Vistacare Inc-cl A 44,85899 06f20/2003 45,055 .43 05/07/2003 (196 .44) 000 453 .00 Vistacare Inc-cl A 10,373 .21 06/20/2003 10.556.08 05/13/2003 (182 .87) 0.00 4,123.00 Vistacare Inc-cl A 94,412 .26 06/2012003 95,689.47 05/1912003 (1,277 .21) 0.00 6,719.00 WCI COMMUNITMES INC 127,453 .43 06/2012003 133,500.48 0610212003 (6,047 .05) 0.00 6,385.00 Wireless Facilities, Inc. 69,565 .47 06/20/2003 64,807 .97 05/28/2003 4,757.50 0.00 280.00 Wireless Facilities, Inc. 3,05064 06/20/2003 2,853.00 05/29/2003 197 .64 000 477.00 Wireless Facilities, Inc. 5,196.98 0612012003 4,978.50 06tO2/2OO3 21848 0.00 3,867.00 Wireless Facilities, Inc. 42,131 .50 06/20/2003 40,189.73 06t03/2003 1,941 .77 0.00 2,389.00 Wireless Facilities, Inc. 26,028 .49 OW2012003 25,227.60 06t0412003 800 .89 0.00 4,499.00 Westel Technologies Inc. - A 39,481 .86 OW2012003 32,165 .88 05/2&-2003 7,315.98 0.00 1,821.00 Westel Technologies Inc. - A 15,980.54 06t2O/2003 14,604.24 05/30/2003 1,376.30 0.00 3,764.00 Westel Technologies Inc. - A 33,031 .72 O&M2003 34,091 .30 06/1812003 (1,059 .58) 0.00 1,771.00 Westel Technologies Inc. - A 15,541 .76 06t20t2003 17,704.33 06/19/2003 (2,162 .57) 0.00 1.848.00 American Home Mtg Holdings 34,112.47 06/23/2003 31,032.54 06tO2/2003 3,079.93 O.OD 4,489.00 Align Technology Inc 51,218 .42 06/23t2OO3 30,412.60 04/02/2003 20,805 .82 0.00 1,229.00 Fremont Gen Corp 16,837 .73 06t23/2003 10,348 .42 04122/2003 6,489.31 0.00 Dfiehaus Capital Management Friday January 23, 2004 16:44:47 Page 35 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantit Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount) 5,607.00 Inkine Pharmaceutical Co 18,531.38 06/23/2003 12,476 .95 11/2212002 6,054.43 0.00 11,185.00 Inkine Pharmaceutical Co 36,966.92 06/2312003 24,540.05 11125/2002 12,426 .87 0.00 3,879.00 Accredited Home Lenders 82.843.78 06/23/2003 55,670.40 05122/2003 27,17338 0.00 2,005-00 Medifast Inc 23,074.46 06123/2003 18,521 .69 05/13/2003 4,552.77 0.00 2,099-00 Medifast Inc 24,156.25 0612312003 19,754 .32 05/15/2003 4,40193 0.00 107.00 Staar Surgical Co. 1,117.55 06/23/2003 767.08 04/15/2003 35047 0.00 3,135.00 Staar Surgical Co. 32,743 16 06/23/2003 25,550.25 04129/2003 7,192.91 0.00 1,302-00 Staar Surgical Co. 13,598.60 06/23/2003 11,028 .33 04/30/2003 2,570.27 0.00 923.00 Staar Surgical Co. 9,640.17 06t23/2003 8,275.89 05/01/2003 1,364.28 000 6,815-00 Smar Surgical Co. 71,178.52 06r23/2003 64,944.69 05/07/2003 6,233.83 0.00 1,617-00 Staar Surgical Co. 16,888.58 06123/2003 15,978 .06 05/08/2003 910.52 0.00 3,181-00 Staar Surgical Co. 33,223.61 0612312003 31,396.47 05/13/2003 1,827.14 0.00 1,611-00 Staar Surgical Co. 16,825.91 06/23/2003 16,09096 05/1412003 73495 0.00 5,74800 Ultralife Batteries Inc 54,266.72 06123/2003 56,225.33 0604/2003 (1,958.61) 0.00 2,916.00 Ultralife Batteries Inc 27,529.88 0612312003 29.568.24 06113/2003 (2,038.36) 0.00 4,536.00 Ultralife Batteries Inc 42,824.26 06t23/2003 46,116.08 06/16/2003 (3,291.82) 0.00 2,752.00 ValueCfick, Inc. 16,259.45 06123/2003 14,793 .92 0610212003 1,465.53 0.00 4,045-00 Cell Therapeutics Inc. 38,317.22 06124/2003 52,738.87 05f28/2003 (14,421.65) 0.00 4,809.00 Cell Therapeutics Enc. 45,554.39 0&24/2003 62,565.57 06/02/2003 (17,011.18) 0.00 685-00 Ultralife Batteries Inc 6,390.21 06/24/2003 6,587.97 05/28/2003 (197.76) 0.00 4,565-00 Ultralife Batteries Inc 42,585.82 06124/2003 44,653.55 O&V4/2003 (2,067.73) 0.00 1,767.00 New Century Fail Corp 76,572.71 06/2612003 60,260.53 0410412003 16,312 .18 0.00 558.00- New Century Fall Corp 24,180.85 06126/2003 20,539.98 OV22/2003 3,640.87 0.00 177.00 Anfigenics Inc. 2,069.03 07/01/2003 2,388.00 06/0312003 (318.97) 0.00 2,088.00 Antigenics Inc. 24,407.57 07/01/2003 28,25064 OW04/2003 (3,843.07) 0.00 1,961 .00 American Home Mtg Holdings 36,865.06 07/0112003 32,729 .09 05/2812003 4,135.97 0.00 4,532.00 American Home Mtg Holdings 85,197.59 07/01/2003 76,103 .61 0610212003 9,093.98 0.00 344.00 Finish Line - Cl. A 7,416.36 07/01/2003 5,501.11 04/02/2003 1,915.25 000 2,256.00 Fremont Gen Corp 30,483.43 07/01/2003 16,873.13 04/1512003 13,610.30 0.00 225.00 Fremont Gen Corp 3,040.24 07/0112003 1,894.54 0412212003 1,145.70 000 616.00 FINDWHAT.COM 11,146.73 07/01/2003 11,982 .19 06/1912003 (835.46) 0.00 5,282.00 Accredited Home Lenders 100,908.92 07/01/2003 75.805.89 05/22/2003 25,103-03 0.00 514.00 Lexar Media Inc. 4,81081 07/01/2003 4,071.96 06/04/2003 738.85 0.00 1,370-00 New Century Fini Corp 56,907.12 07101/2003 46,721.52 04/0412003 10,185.60 000 49400 New Century Fin] Corp 20,519.80 07/0112003 16,788.64 04/07/2003 3,731.16 0.00 396.00 Navigant Consulting Co 4,632.98 07/01/2003 4,197.39 06f13/2003 435.59 0.00 234.00 Sohu com Inc. 7,616.34 07/0112003 762.66 1061/2002 6,853.68 0.00 1,397.00 SunOpta Inc 9,582.96 07101/2003 8,468.34 06/0212003 1,114.62 0.00 330.00 Wireless Facilities, Inc. 3,778.32 07/01/2003 3,349.51 05/28/2003 428.81 0.00 4,238.00 Fremont Gen Corp 57.652.73 07/0212003 31,696.96 04/15/2003 25,955 .77 0.00 199.00 SunOpta Inc 1,375.08 07/02/2003 1,206.30 06(0212003 168.78 0.00 1,130.00 American Home Mtg- Ho!d:-ngs 22,728.88 07/OR/2003 18,577.20 05/27/2003 4,151.68 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Prernfurn Discount)

3,101.00 Amencan Horne Mtg Holdings 62,373 .68 07/0812003 51,75569 05/28/2003 10,617 .99 0.00 3,979.00 Central European Distribution Corp. 78,382 .61 07/0&*2003 72,599 .88 04130/2003 5,78273 0.00 655-00 Central European Distribution Corp. 12,902 .89 07/08/2003 11,775 .48 05/01/2003 1,127.41 0.00 1,020.00 Central European Distribution Corp. 20,09305 07/08/2003 18,507 .49 05/02/2003 1,585.56 0.00 3,450.00 Central European Distribution Corp. 67,961 .80 07/08t2003 69,139 .84 05/07/2003 (1,17804) 0.00 3,531 .00 Central European Distribution Corp. 69,557.43 07/08/2003 77,558 .41 05/13/2003 (8,000 .98) 0.00 4,124.00 Accredited Home Lenders 93,738 .65 07/08/2003 57,861 .78 05/1512003 35,876 .87 0.00 4,649.00 Accredited Home Lenders 105,671 .91 07/08/2003 66,721 .24 05/2212003 38,950.67 0.00 4,703.00 New Century FinI Corp 202,595 .26 07/08/2003 159 .831 .93 04/0712003 42,763 .33 0.00 1,939.00 New Century Fin] Corp 83.528.01 07/08/2003 65,675 .09 04/17/2003 17,852 .92 0.00 5,432.00 Netease .com Inc. ADR 210,425 .80 07/0&*2003 13,375 .47 08/14/2002 197,050.33 0.00 3,690.00 Staar Surgical Co. 52,381 .88 07/08/2003 26,453 .67 04/15/2003 25,928 .21 0.00 1,821 .00 Tradestation Group Inc 21,922 .57 07/08/2003 4,525.23 03/07/2003 17,397 .34 0.00 7,210.00 Tradestation Group Inc 86,799 .43 07/0&P2003 18,78406 03/10/2003 68,01537 0.00 1,692.00 Tradestation Group Inc 20,369 .58 07/0&12003 4,259.00 03/1212003 16,110.58 0.00 2,489.00 Central European Distribution Corp. 50,236 .36 07109/2003 43,038 .19 0411712003 7,198.17 0.00 150.00 Central European Distribution Corp. 3,027.50 07/O9f2OO3 2,696.67 05/01f2003 330.83 0.00 825 .00 New Century Fin] Corp 35,694 .83 07/0912003 27,943 .25 04/17/2003 7,751.58 0.00 2,757.00 Staar Surgical Co. 38,810 .94 07/0912003 19,764 .98 04/15/2003 19,045 .96 000 2,581 .00 Staar Surgical Co. 33,574 .38 07/10t2003 18,503 .23 " 15/2003 15,071 .15 0.00 3,405.00 Antigenics Inc. 44,601 .69 07/1112003 45,938 .56 06/03/2003 (1,336.87) 0.00 2,788.00 Antigenics Inc. 36,810 .18 07/14/2003 37,614 .30 0610312003 (804.12) 0.00 1,172.00 Staar Surgical Co. 15,58686 07/14/2003 8,402.09 " 15/2003 7,184.77 0.00 1,119.00 Hi-Tech Pharmacal Co. Inc. 40,212 .62 Or7/16/2003 16,934 .20 12116f2002 23,278 .42 0.00 1 .00 Hi-Tech Pharmacal Co. Inc. 35.94 07/1612003 0.00 01/21/2003 35 .94 0.00 2,056.00 Hi-Tech Pharmacal, Co. Inc. 73,884 .85 07/16f2003 30,179 .61 03/06/2003 43,705 .24 0.00 10,625 .00 Fremont Gen Corp 149,273 .28 (Y7/21/2003 77 .227 .06 04/03/2003 72,046.22 0.00 222 .00 Fremont Gen Corp 3,118.93 07/21/2003 1,66039 04/1512003 1,458.54 000 1,454.00 NII Holdings Inc - Cl B 55,482 .32 07121/2003 14,632 .91 11/26/2002 40,849.41 0.00 592 .00 NU Holdings Inc - C1 B 22,589 .78 07/21/2003 6,571 .20 11/27/2002 16,018 .58 0.00 2,818.00 Fremont Gen Corp 39,377 .15 07122/2003 20,482 .43 04/03/2003 18,894.72 0.00 3,500.00 SunOpta Inc 23.499.14 07122/2003 21,216 .30 06102/2003 2,282.84 0.00 2,651 .00 Aquantivelnv 22,583 .30 07/23/2003 15,413 .13 04/09/2003 7,170.17 0.00 8,731 .00 Aquantive Inv 74,377 .53 07/23/2003 53,715 .68 04/1512003 20,661 .85 0.00 1,452.00 Aquantive Inv 12,369 .28 07/23/2003 9,588.51 04129/2003 2,780.77 0.00 4,114.00 Finish Line - Cl. A 88.505.25 07/23/2003 63,817 .19 03/28/2003 24,688 .06 0.00 2.69000 Finish Une - Cl. A 57,870 .47 07/23/2003 41,964 .00 04/01/2003 15,906 .47 0.00 235 .00 Finish Une - Cl. A 5,055.60 07/23/2003 3,75803 04/02/2003 1,297.57 0.00 2.00 Fremont Gen Corp 28.91 07123/2003 14 .54 04/03/2003 14.37 0.00 4,13000 Accredited Home Lenders 79,969 .55 07/23/2003 57,945 .96 05/1512003 22,023 .59 0.00 3,60000 SunOpta Inc 25,199 .05 07/2312003 21,822 .48 06/02/2003 3,376.57 0.00 902.00 WCI COMMUNMES INC 17,277.90 07123/2003 17,921 .93 06/02/2003 (644.03) 0.00 Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 37 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceed Date Cost Date Gain (- Loss) Preffdurn Discount)

3,583.00 WCI COMMUN17M INC 68,632 .71 07/23/2003 68,085 .96 06104/2003 546.75 0.00 6,688-00 Westel Technologies Inc. - A 51,691 .50 07/23/2003 46,98022 05/27/2003 4,711.28 000 1,209-00 Westel Technologies Inc. - A 9,344.35 07/23/2003 8,643.82 05128/2003 700.53 0.00 3.246-00 Westel Technologies Inc. - A 23,491 .16 07124/2003 22,801 .70 05/2712003 689.46 0.00 417 .00 SunOpta Inc 2,937.58 07/2512003 2,365.12 05/05/2003 572.46 0.00 3,533-00 SunOpta Inc 24,888 .39 07/25/2003 21,416.34 0610212003 3,472.05 0.00 7,592-00 Westel Technologies Inc. - A 48,648 .81 07/2512003 52,638.41 05122/2003 (3,98960) 0.00 5,250-00 Westel Technologies Inc. - A 33,641 .49 07/2512003 36,878 .91 05127/2003 (3,237 .42) 0.00 3,334.00 Aquantive Inv 35,002 .80 07/2812003 18,970.50 04/0812003 16,032.30 0.00 4,066-00 Aquantive Inv 42,687 .87 07/28/2003 23 .64006 04/09/2003 19,047.81 0.00 174.00 Osteotech Inc. 2,327.68 07/28/2003 2,399.03 05/28/2003 (71 .35) 0.00 3.123-00 Osteotech Inc. 41,777 .84 07/28/2003 44,034.30 06102/2003 (2,256 .46) 0.00 5,27400 Akarnai Technologies Inc 26,907 .57 07/2912003 24,146.33 0610612003 2,761.24 0.00 8,538-00 Akarnai Technologies Inc 43,560.27 07/29/2003 43,108 .51 0611112003 451 .76 0.00 3,600-00 Akarnai Technologies Inc 18,366 .94 07/29/2003 18,222.48 06/13/2003 1" .46 0.00 2,486.00 Akamai Technologies Inc 12,683 .39 07/2912003 13,467 .42 0612312003 (784.03) 0.00 2,439.00 Align Technology Inc 32,234 .64 07/29/2003 15,239.26 03128/2003 16,995.38 0.00 4,455-00 Align Technology Inc 58,878 .77 07/29/2003 27,445 .89 03/31/2003 31,432 .88 0.00 610.00 Align Technology Inc 8,061 .96 07129/2003 4,132.70 04/0212003 3,929.26 0.00 2,771.00 Align Technology Inc 36,622 .46 07/29/2003 18,565.70 04/03/2003 18,056 .76 0.00 4,727.00 Aquantive Inv 46,062 ." 07/2912003 26,896.69 04/08/2003 19,165.75 000 3.001-00 Central European Distribution Corp . 60,077 .19 07/29/2003 51,891 .37 04/17/2003 8,185.82 000 4,167.00 Finish Une - Cl. A 90,807 .99 07/29/2003 64,639.34 03/2812003 26,168 .65 0.00 98.00 Inkine Pharniaccutical Co 312.55 07/29/2003 21501 11/25/2002 97.54 0.00 11,158 .00 Inkine Pharinaceutical Co 35,586 .16 07/29/2003 23,876.44 12103/2002 11,709 .72 0.00 4,482.00 Inkine Phannaceutical Co 14,294 .42 07/2912003 9,055.26 12104/2002 5,239.16 0.00 2,776.00 Osteotech Inc. 36,633 .97 07/29/2003 38,27422 05/28/2003 (1,64025) 000 5,801.00 Staar Surgical Co. 68,884 .31 07/29/2003 36,927 .87 03/24/2003 31,956 ." 0.00 2,321-00 Staar Surgical Co. 27,560.85 07/2912003 16,639.29 04/15/2003 10,921 .56 0.00 4,95200 Tradestation Group Inc 57,304 .31 07/29/2003 12,305.84 03/07/2003 44,998.47 0.00 1,708.00 WCI COMMUNITIES INC 30,568 .68 07129/2003 26,841 .22 05/13/2003 3,727.46 0.00 2,531.00 WCl COMMUNITIES INC 45,298 .21 07/2912003 44,435 .75 05/28/2003 862.46 0.00 1 .438.00 WCl COMMUNITIES INC 25,736 .40 07/29/2003 27,325 .59 06104/2003 (1,589 .19) 0.00 5,568.00 Wireless Facilities, Inc. 67,035 .28 07/29/2003 55,293 .85 05/21/2003 11,741 .43 0.00 1,984.00 Wireless Facilities, Inc. 23,886 .13 07/29/2003 19,939 .20 05123/2003 3,946.93 0.00 1,162.00 Wireless Facilities, Inc. 13,989 .76 07/29/2003 11,794.34 05/28/2003 2,195.42 000 73.00 Wireless Facilities, Inc. 878.87 07/2912003 730.21 05/30/2003 148 .66 0.00 2,687.00 Aquantive Inv 26,097 .86 07/30/2003 15,289.06 04/08/2003 10,808 .80 0.00 1,65600 Finish Line - Cl. A 36,036 .83 07/30/2003 24,522 .05 03/18/2003 11,514.78 0.00 405.00 Finish Line - Cl. A 8,813.36 07/3012003 5,991 .45 03/19/2003 2,821.91 0.00 61800 Finish Line - Cl. A 13,448 .53 07130/2003 9,586.54 03/28/2003 3,861.99 0.00 2,657.00 Inkine Pharniaceutical Co 8,347.26 07/3012003 4,898.02 11/14/2002 3,449.24 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Descriotion Proceeds Date cost Date Gain (- Loss) Premium Discount) 3,763-00 Inkine Pharmaceutical Co 11,821 .89 07130/2003 6,995.89 11/19/2002 4,826.00 0.00 4,704.00 Inkine Pharmaceutical Co 14,778 .14 0713012003 9,183.81 11/2012002 5,594.33 0.00 152.00 Inkine Pharmaceutical Co 477 .53 07/30/2003 30.09 12104/2002 170.44 000 3,348.00 Osteotech Inc. 43,856.73 07/30/2003 46,160.69 05/2&'2003 (2,303 .96) 0.00 2,202-00 Tradestation Group Inc 25,541 .99 07/30/2003 5,472.02 03/0712003 20,06997 0.00 3,382.00 WC1 COMMUNITIES INC 62,349 .98 07/30/2003 53,148.13 05/13/2003 9,201.85 0.00 802-00 Akamai Technologies Inc 3,671.49 07/3112003 3,094.55 06102/2003 576.94 0.00 6,165-00 Akamai Technologies Inc 28,222 .84 07/31/2003 28,225 .66 06t0612003 (2.82) 0.00 1,710-00 Chicago Pizza & Brewery Inc. 18,484.23 07/3112003 20,896.88 07/08/2003 (2,412 .65) 0.00 2,481.00 Chicago Pizza & Brewery Inc. 26,818 .34 (17/31/2003 30,556 .74 07/0912003 (3,738 .40) 0.00 2,720.00 Inkine Pharmaceutical Co 8,750.47 07/31/2003 4,902.32 11/1212002 3,848.15 0.00 4,966-00 Inkine Pharmaceutical Co 15,976.05 07/3112003 9,154.53 11/14/2002 6,821.52 0.00 5,474-00 Inkine Pharmaceutical Co 17,610.33 07/3112003 9,993.56 11 / 1 &-2002 7,616.77 0.00 2,561-00 Osteotech Inc. 33,525 .49 07131/2003 35,309.89 05/28/2003 (1,784 .40) 0.00 1,549.00 Osteotech Inc. 20,277 .62 07/3112003 20,214 .45 06117/2003 63.17 0.00 409-00 Osteotech Inc. 5,354.13 07/3112003 5,254.18 06/ 1 V2003 99.95 0.00 2,926-00 American Home Mtg Holdings 48,818 .01 08/0112003 48,103.44 05/27/2003 714.57 0.00 2,162-00 Akamai Technologies Inc 8,609.40 08/01/2003 8,089.27 05/28/2003 520.13 0.00 3,556-00 Akamai Technologies Inc 14,153 .97 08/01/2003 13,475 .02 05/2912003 678.95 0.00 10,639.00 Akamai Technologies Inc 42,346.49 08101/2003 41,051 .08 06/0212003 1,295.41 0.00 4,053.00 Align Technology Inc 50,503 .26 08/01/2003 24,969 .30 03/3112003 25,533 .96 0.00 366.00 AT Road Inc 4,832.80 08/01/2003 5,277.72 07/29/2003 (444 .92) 0.00 5,929-00 Ask Jeeves Inc 97,601 .56 08101/2003 30,821 .10 01/31/2003 66,780 .46 0.00 2,562-00 Chicago Pizza & Brewery Inc. 26,753 .19 08/0112003 31,308 .66 07/08/2003 (4,555 .47) 0.00 1,790.00 Chicago Pizza & Brewery Inc. 18,691 .73 08/0112003 21,014 .96 07/1012003 (2,323 .23) 0.00 323-00 Candela Corp. 5,461.67 08/01/2003 5,244.32 07/29/2003 217.35 0.00 316-00 Ebookers .corn plc-spons ADR 5,883.64 08/01/2003 5,950.28 07/29/2003 (66 .64) 0.00 357-00 Finish Line - Cl. A 8,049.97 09/01/2003 5,281 .35 03/19/2003 2,768.62 0.00 1,590-00 Hex Oncology Inc 24,631 .28 08/01/2003 27,603 .83 05/28/2003 (2,972 .55) 000 4,841.00 Hex Oncology Inc 74,993 .72 08101/2003 78,040 .31 06/04/2003 (3,046 .59) 0.00 3,204-00 Hex Oncology Inc 49.63435 08/0112003 63,899 .61 06125/2003 (14,265 .26) 0.00 3,189-00 11" Oncology Inc 49,401 .98 08/01/2003 63,24457 07/03/2003 (13,942 .59) 0.00 2,988-00 Imax Corp 25,297 .90 08/01/2003 28,056 .78 06126/2003 (2,758 .88) 0.00 481-00 Innovex Inc. 6,892.40 08/01/2003 4,780.56 05/19/2003 2,111 .84 0.00 3,647-00 Accredited Home Lenders 58,203 .38 08/0112003 51,169 .23 05/15/2003 7,034.15 0.00 4,628.00 Accredited Home Lenders 73,859 .40 08101/2003 64,736 .46 05/1612003 9,122.94 0.00 412.00 Lexar Media Inc. 5,508.18 Oa/01/2003 5,231 .12 07/1W003 277.06 0.00 2,354.00 Microstrategy Inc-Cl A 100,981 .86 09/01/2003 84,917 .73 05/28/2003 16,064 .13 0.00 61300 Omnicell Inc 7,487.62 08/01/2003 6,154.53 07/01/2003 1,333.09 0.00 1,914.00 Osteotech Inc. 25,975 .77 08/0112003 24,588 .01 06t 18/2003 1,387.76 0.00 4,686-00 Staar Surgical Co. 49,303 .97 08/01/2003 29,830 .03 03/24/2003 19,473 .94 0.00 3,002-00 Staar Surgical Co. 31,585 .69 08/0112003 18,71671 03/25/2003 12,868 .98 0.00 Dyiehaus Capital Management Friday January 23, 2004 16:44:47 Page 39 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

1.001 .00 Staar Surgical Co. 10,532 .07 08101/2003 6,196.59 03/2812003 4,335.48 0.00 1.759-00 SunOpta Inc 12,013 .74 08/01/2003 12,921 .71 0712912003 (907 .97) 000 1,165-00 Synaptics Inc 11,792 .52 08101/2003 16,017 .24 07/07/2003 (4,224.72) 0.00 4,247.00 Synaptics Inc 42,989.55 08/01/2003 59,807 .10 07/08/2003 (16,817 .55) 0.00 10.752.00 Akamai Technologies Inc 41,753 .52 08/0412003 40,210 .72 05128/2003 1,54280 0.00 2.413.00 Align Technology Inc 28,479 .05 08104/2003 14,76855 03127/2003 13,710.50 0.00 483.00 Align Technology Inc 5,700.53 08/0412003 2,975.62 0313112003 2,72491 0.00 2,499.00 Finish Unc - Cf. A 55,350.24 08104/2003 35,979 .85 03/13/2003 19,370.39 000 568.00 Finish Une - Cf. A 12,580.61 08/0412003 8,402.82 03/19/2003 4,177.79 0.00 1,63800 Imax Corp 13,332 .68 08/0412003 15,38053 0612612003 (2,047 .85) 0.00 1,095.00 Sonosite Inc. 17,318 .36 08/04/2003 23,981 .92 05/28/2003 (6,663 .56) 0.00 3,847.00 Sonosite Inc. 60,843 .59 08IM003 83,980 .01 06102/2003 (23,136.42) 0.00 3,170-00 Staar Surgical Co. 35,001 .48 08/04/2003 19,392 .17 03127/2003 15,609 .31 0.00 1,914.00 Staar Surgical Co. 21,133 .39 08/04/2003 11,848 .42 03/28/2003 9,284.97 0.00 293 .00 Synaptics Inc 3,007.11 08/04/2003 3,940.85 07/03/2003 (933 .74) 0.00 5,321 .00 Synaptics Inc 54,610 .32 08104/2003 73,156 .83 07/07/2003 (18,546.51) 0.00 3,287.00 Finish Une - Cf. A 73.132 .31 08/05/2003 47,325 .24 03/13/2003 25,807 .07 000 711 .00 Imax Corp 5,773.04 0810512003 6,676.16 06126/2003 (903 .12) 0.00 2,751 .00 Staar Surgical Co. 31,376 .42 08/0512003 16,828-97 03/2712003 14,547 .45 0.00 587.00 Imax Corp 4,502.07 08/06/2003 5,511 .82 06/2612003 (1,009.75) 0.00 434.00 Imax Corp 3,193.91 08107/2003 4,07518 06/2612003 (881 .27) 0.00 265.00 [max Corp 1,950.20 08/0712003 2,459.13 (Y7/0&12003 (508.93) 0.00 2,030-00 American Home Mtg Holdings 33,571 .17 08/08/2003 30,921 .98 05123/2003 2,649.19 0.00 1 .008-00 American Home Mtg Holdings 16,669 .82 08/08/2003 16,571 .52 05/27/2003 98 .30 0.00 6,410.00 Akamai Technologies Inc 23,031 .12 08/0&'2003 23,972 .35 05121112003 (941 .23) 0.00 243-00 Central European Distribution Corp. 4,559.68 08/08/2003 2,592.00 11/15/2002 1,967.68 0.00 2,51400 Central European Distribution Corp. 47,172 .98 09/0812003 26,881 .36 11/18/2002 20,291 .62 0.00 304.00 Central European Distribution Corp. 5,70429 09/08/2003 5,256.57 04/17/2003 447.72 0.00 187.00 Finish Une - Cf. A 4,245.02 08/08/2003 2,692-37 03113/2003 1,552.65 0.00 223 .00 Imax Corp 1,646.06 08/0812003 2,069.38 07/08/2003 (423 .32) 0.00 2,701.00 Medifast Inc 36,589 .26 0810812003 24,951 .17 05/1312003 11,63809 0.00 2,937.00 02Micro International Lid. ADR 38,920 .75 08/08/2003 43,060.24 05/28/2003 (4,139 .49) 0.00 2,942.00 02Micro, International Lid. ADR 38,987 .01 08/0&'2003 46,01612 06/02/2003 (7,029.11) 0.00 4,157.00 Staar Surgical Co. 44,91633 Oa/0812003 25,430.04 03/27/2003 19,486 .29 0.00 2,083.00 Vital Images Inc 38,332 .26 08/0812003 47,978.36 07/29/2003 (9,64610) 0.00 6,342.00 Imax Corp 43,991 .16 08/1112003 56,437.77 07/0112003 (12,44661) 0.00 7,557.00 Imax Corp 52,418 .99 0811112003 70,126.87 07/08/2003 (17,707 .88) 0.00 1,008.00 Medifast Inc 13,826.38 08/11/2003 8,855.08 05/07/2003 4,971 .30 0.00 843 .00 Medifast Inc 11,563 .14 09/11/2003 7,787.42 05/1312003 3,775.72 0.00 1,48100 Staar Surgical Co. 15.090-90 08/1112003 9,059.87 03/27/2003 6,031.03 0.00 4.035.00 Staar Surgical Co. 41,115 .31 08/11/2003 24,569.62 04/0112003 16,545.69 0.00 415M Staar Surgical Co. 4,228.71 08/11/2003 2,524.45 04/0212003 1,704.26 0.00

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Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date c2g Date Gain (- Loss) Premium Discount) 3,034.00 American Home Mtg Holdings 47,479.86 09/14/2003 46,215 .41 05/23/2003 1,264.45 0.00 1,437.00 Align Technology Inc 16,424.13 09114/2003 8,798.46 03/26/2003 7,625.67 0.00 93.00 Align Technology Inc 1,062.94 08/14/2003 569.20 03127/2003 493.74 0.00 6,808.00 Ask Jeeves Inc 112,394.79 08/14/2003 33,410.52 01/3012003 78,98427 0.00 5,191.00 Ask Jeeves Inc 85,699.37 08114/2003 26,984.71 01/31/2003 58,714.66 0.00 2,366.00 Central European Distribution Corp. 43,599.30 08/14/2003 25,237.33 11/15/2002 18,361 .97 0.00 1,925.00 02Micro International Ltd. ADR 26,621 .49 08/14/2003 28,223.00 05/2812003 (1,601 .51) 000 985.00 Staar Surgical Co. 10,350.88 08/14/2003 6,001.41 03/2612003 4,349.47 0.00 4,965.00 Staar Surgical Co. 52,17473 08/14/2003 30,202.19 04/02/2003 21,972.54 0.00 5,593.00 Tradestation Group Inc 54,586.44 08/1412003 13,898 .74 03/07/2003 40,687.70 0.00 1,685.00 Tradestation Group Inc 16,445 .22 08/14/2003 4,189.42 03/11/2003 12,255 .80 000 4,399.00 Align Technology Inc 49,327.02 08/15/2003 23,226.40 03/20/2003 26,100.62 0.00 5,325.00 Align Technology Inc 59,710.48 08/15/2003 28,644.27 03/2112003 31,066 .21 0.00 1,253.00 Align Technology Inc 14,050 .18 08/15/2003 6,78600 03/24/2003 7,264.18 0.00 1,221.00 Align Technology Inc 13,691 .36 08115/2003 6,837.60 03/25/2003 6,853.76 0.00 273.00 Align Technology Inc 3,061 .21 08/15/2003 1,671 .52 03/26f2003 1,389.69 0.00 727.00 Central Ezropean Distribution Corp. 13,085 .38 08/15/2003 7,754.67 11/1512002 5,330.71 000 1.00 Central European Distribution Corp. 18.00 08/15/2003 0.00 06102/2003 18.00 0.00 5,163.00 Medifast Inc 69,006.43 08/15/2003 42,169.82 05/0612003 26,836.61 0.00 65600 Medifast Inc 8,767.81 08/15/2003 5,762.83 05/0712003 3,004.98 0.00 3,997.00 02Micro International Ltd. ADR 55,678.78 08/15/2003 58,601 .22 05/28/2003 (2,922.44) 0.00 1,894.00 Medi fast Inc 24.259.10 08/18/2003 15,469 .62 05/06/2003 8,789.48 0.00 3,974.00 Sohu.com Inc. 121,129.38 08/1912003 12,952 .24 10/31/2002 108,177.14 0.00 3,267.00 FINDWHAT.COM 69,932.72 Oa/19/2003 74,853.18 07/08/2003 (4,920.46) 0.00 1,592.00 FINDYMAT.COM 34,078.02 08/19/2003 36,219.27 07/21/2003 (2,141.25) 0.00 6,781.00 Inkine Pharmaceutical Co 21,122.11 08/1912003 12,221 .55 11/12/2002 8,900.56 0.00 87.00 Inkme Phannaceutical Co 271 .00 0811912003 156.50 11/13/2002 114.50 0.00 677.00 Medifast Inc 8,528.44 08/19/2003 5,529.53 05/0612003 2,998.91 000 762.00 Medifast Inc 9,659.49 08/19/2003 6,223.78 05/0612003 3,435.71 0.00 2,805.00 Mannatech Inc 17,766 .60 08/1912003 23,085.15 07/29/2003 (5,318 .55) 000 3,450.00 Mannatech Inc 21,851 .96 08/1912003 28,740.23 07/3012003 (6,888 .27) 0.00 314.00 Mannatech Inc 1,988.85 08/19/2003 2,443.20 0&101/2003 (454.35) 000 2,28~7 .00 Sharper hmge Corp. 64,248.87 08/19/2003 64,548.52 07/08/2003 (299.65) 000 2,284.00 Sharper Image Corp. 64,164.59 08/19/2003 67,454.74 07/10/2003 (3,290 .15) 0.00 1 .00 Cash in Ueu - Short Term 7.00 08/20/2003 0.00 08120/2003 7.00 0.00 1,937.00 Candela Corp. 29,309.69 0&-2012003 28,864.98 07/2112003 444.71 0.00 1,742.00 Candela Corp. 26,359.05 08/20/2003 27.028.00 0712212003 (668.95) 000 5,842.00 Candela Corp. 88,398.15 0812012003 94,852.46 0712912003 (6,454 .31) 0.00 3,257.00 Inkine Pharmaceutical Co, 10,164 .80 08120/2003 5,858.79 11/1312002 4,306.01 0.00 2,454.00 Mannatech Inc 15,207 .95 0&'20/2003 19,094 .33 08/01/2003 (3,886 .38) 0.00 1,804.00 Mannatech Inc 11,179 .76 08/20/2003 13,856 .88 08/0412003 (2,677 .12) 0.00 1,350.00 Sohu com Inc. 44,685.06 0&'2012003 4,399.98 10131/2002 40,285.08 0.00 Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 41 Gains and Loss Repoytfrom 1110112002 to 1013112003 Account: 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

7,303.00 Tradestation Group Inc 71,650 .08 0&20f2003 18,157 .45 03/11/2003 53,492 .63 000 2,550.00 Candela Corp. 37,293 .01 08/21/2003 35,954 .49 07/15/2003 1,338.52 0.00 4,050.00 Candela Corp. 59,230 .08 08/21/2003 60,352 .70 07/21/2003 (1,122.62) 0.00 12,446 .00 Inkine Pharmaceutical Co 40,089 .12 08/21/2003 22,388 .26 11/13/2002 17,700 .86 0.00 1,468.00 Mannatech Inc 9,284.65 0812112003 11,276 .00 08/04/2003 (1,991 .35) 0.00 3,476.00 Sharper Image Corp. 101,573 .33 08121/2003 93,797 .08 06113/2003 7,776.25 0.00 1,130.00 Sharper Image Corp. 33,020.10 08/2112003 31,893 .23 07/08/2003 1,126.87 0.00 1,349.00 Sohu com Inc. 44,16688 08121/2003 4,396.72 10131/2002 39,770 .16 0.00 1,744.00 Inkine Pharmaceutical Co 5,643.25 08/22/2003 3,137.16 11/13/2002 2,506.09 000 2,506.00 Mne Pharmaceutical Co 8,10894 08/2212003 4,257.90 11/15/2002 3,851 .04 0.00 3,311.00 AT Road Inc 44,103 .17 OM25/2003 46,340 .76 07/25/2003 (2,237 .59) 0.00 3,217.00 AT Road Inc 42,851 .07 08/25/2003 46,356 .97 07/28/2003 (3,505 .90) 0.00 4,661.00 AT Road Inc 62,085.43 08125/2003 67,211 .62 07/2912003 (5,126.19) 0.00 4,779.00 AT Road Inc 63,657.21 0&25/2003 68,819 .99 07/30/2003 (5.162.78) 0.00 5,325.00 Sohu corn Inc. 157,89427 0&'2612003 17,355 .49 10131/2002 140,538 .78 0.00 193.00 AT Road Inc 2,586.12 08128/2003 2,237.48 06125/2003 348.64 0.00 5,531.00 AT Road Inc 74,113 .01 08/2&12003 64,741 .46 06/2612003 9,371.55 0.00 3.00 AT Road Inc 40.20 08128/2003 41 .99 07/25/2003 (1.79) 0.00 6.221.00 TLC Vision Corp 32,088.62 0&'2&'2003 31,532 .36 06/13/2003 556.26 0.00 6,009.00 TLC Vision Corp 30,995.10 08/2&'2003 31,272 .69 06/20/2003 (277.59) 0.00 4,696.00 TLC Vision Corp 24,222.50 0&7812003 32,096 .70 07/29/2003 (7,874.20) 0.00 10,339.00 TLC Vision Corp 53.329.73 0812812003 71,256 .81 0713012003 (17,927.08) 0.00 5,374.00- TLC Vision Corp 27,719.70 0&28/2003 36,627 .40 07/3112003 (8,907.70) 0.00 1,343.00 TLC Vision Corp 6,927.35 08/28/2003 8.984 .67 08/0112003 (2,057.32) 000 1,663.00 TLC Vision Corp 8,577.94 08/28/2003 10,709 .72 08/04/2003 (2,131 .78) 0.00 894.00 TLC Vision Corp 4,611.35 0&-28/2003 5,392.43 08/06/2003 (781 .08) 0.00 1,413.00 TLC Vision Corp 7,288.41 08/28/2003 8,661 .69 08/0712003 (1,373.28) 0.00 1,068.00 TLC Vision Corp 5,508.86 08/2812003 5,816.43 08/08/2003 (307-57) 0.00 97.00 Wireless Facilities, Inc. 1,361.36 08/28/2003 856 .95 05/1312003 504.41 0.00 2,236.00 Wireless Facilities, Inc. 31,381 .45 08n8/2003 22,204 .93 05/21/2003 9,176.52 0.00 2,887.00 Wireless Facilities, Inc. 40.51800 08128/2003 28,561 .67 05/2212003 11,956 .33 0.00 605.00 Wireless Facilities, Inc. 8,490.96 0&28/2003 7,96083 09101/2003 530.13 0.00 514.00 Wireless Facilities, Inc. 7,213.80 08n8/2003 7,130.67 08/04/2003 83 .13 0.00 3,041.00 AT Road Inc 40,838.70 08129/2003 35,254 .76 06125/2003 5,583.94 0.00 241 .00 Airtran Holdings Inc. 3,328.05 09/02/2003 3,166.67 07/3012003 161 .38 0.00 2,486.00 AT Road Inc 32,888 .67 09102/2003 24,804 .95 06105/2003 8,083.72 0.00 2,822.00 AT Road Inc 37,333 .80 09102/2003 29,038 .38 06/17/2003 8,295.42 0.00 6,685.00 AT Road Inc 88,439.56 09/0212003 77,500 .19 06/25/2003 10,939 .37 0.00 5.269.00 AT Road Inc 69,706.52 09/02/2003 59,337 .90 06127/2003 10,368 .62 0.00 1,061.00 Closure Medical Corporation 26,32620 09/02/2003 28,01825 07/2912003 (1,692.05) 0.00 529 .00 Closure Medical Corporation 13,125 .88 09/02/2003 14,464 .82 0713012003 (1,338.94) 0.00 133-00 Candela Cori). 1,883.23 0910212003 1,703.16 07/09/2003 18007 0.00

0 0 0 40 0 0 0 0

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Sale Purchase ReaUed Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount) 5,145.00 Candela Corp. 72,851 .14 09/02/2003 72,543 .47 07/15/2003 307.67 0.00 5,508.00 Candela Corp. 77,99107 09/02/2003 75,254.15 Oa/08/2003 2,736.92 0.00 211.00 Columbia Laboratories Inc. 2,924.32 09/0212003 2,869.60 09/05/2003 54.72 0.00 320.00 Navigant Consulting Co 4,854.17 09/02/2003 3,391.83 06113/2003 1,462.34 000 400.00 TLC Vision Corp 2,040.74 09/0212003 2,027.48 06113/2003 13.26 0.00 1,311.00 TLC Vision Corp 6,736.29 09/0212003 6,126.03 0610612003 610.26 0.00 4,061.00 TLC Vision Corp 20,866 .56 09/02/2003 19,309.66 06111/2003 1,556.90 0.00 8,295.00 TLC Vision Corp 42,622.05 09/02/2003 42,044.83 06t 1312003 577.22 0.00 4.365.00 Ultralife Batteries Inc 48,793.08 09/02/2003 43,937 .76 O7/OMOO3 4,855.32 0.00 7,83C- 130 Ultralife Batteries Inc 87.525.73 09/02/2003 97,511 .93 07/2912003 (9,986 .20) 0.00 3,191 .00 Ultralife Batteries Inc 35,669 .81 09/02/2003 41,691 .69 09/0612003 (6,021 .88) 0.00 533.00 Ultralife Batteries Inc 5,958.01 09/02/2003 6.914.88 08/07/2003 (956.87) 0.00 930.00 Ultralife Batteries Inc 10,395 .78 09/02/2003 12,276.00 Oat 13/2003 (1,880.22) 0.00 501 .00 ValueChck, Inc. 4,408.59 09102/2003 2,693.23 0610212003 1,715.36 0.00 60-00 Ventana Medical Sys Inc 2,407.68 09/02/2003 2.409.00 08/28n003 (132) 0.00 126.00 Vistacare Inc-cl A 3,938.57 09/02/2003 2,897.90 05/0712003 1,040.67 0.00 5,904.00 AT Road Inc 78,755.64 09/03/2003 58,909 .26 06tO5/2003 19,846.38 0.00 192.00 Closure Medical Corporation 4,742.18 09/03/2003 5,070.22 07/29/2003 (328.04) 0.00 1,064.00 Closure Medical Corporation 26,279.56 09103/2003 27,014 .96 08/0812003 (735.40) 0.00 1,393.00 Candela Corp. 20,503.99 09/03/2003 17,838 .34 07/09/2003 2,665.65 0.00 950.00 Candela Corp. 13,983 .34 09103/2003 11,883 .17 07/10/2003 2,100.17 0.00 70.00 Candela Corp. 1,030.35 09/03/2003 868.01 Or7/11/2003 162.34 0.00 13,182.00 TLC Vision Corp 69,205.14 09/03/2003 57.908.48 06105/2003 11,296.66 0.00 3,176.00 TLC Vision Corp 16,673 .91 09/03/2003 14,840.79 0&0612003 1,833.12 0.00 6,120.00 TLC Vision Corp 32,129.83 09/03/2003 27,295.66 0611012003 4,83417 0.00 518.00 AT Road Inc 7,029.08 09/04/2003 5.168.53 0610512003 1,860.55 0.00 2,606.00 TLC Vision Corp 13,721 .65 09/04/2003 11,448.15 06105/2003 2,273.50 0.00 278.00 Closure Medical Corporation 6,57439 09/05/2003 6,566.94 07/21/2003 7.45 0.00 1,491 .00 Closure Medical Corporation 35.260.49 09/0512003 37,856 .49 08/08/2003 (2,596.00) 0.00 636-00 Candela Corp. 9,304.24 09/05/2003 7,22162 05/01/2003 2,082.62 0.00 1.439.00 Candela Corp. 21,051 .58 09/05/2003 17,410.32 07/08/2003 3,641.26 0.00 1,202.00 Candela Corp. 17,594 .43 09/05/2003 14,90504 07/11/2003 2,679.39 0.00 286-00 Kensey Nash Corp 8,050.66 09/05/2003 8,258.59 08/18/2003 (20793) 0.00 1,823.00 Kensey Nash Corp 51 .315.95 09/0512003 53,340.98 08/2012003 (2,025-03) 0.00 3,936-00 Wireless Facilities, Inc. 57,677.79 09/05/2003 34,772 .59 05/13/2003 22,90520 000 4,123.00 Wireless Facilities, Inc. 60,418.07 09/05/2003 36,215.13 05/1412003 24,202 .94 0.00 2,640.00 WRIGHT MEDICAL GROUP INC 61,456.31 09/05/2003 69,333.00 07/29/2003 (7,87669) 0.00 1,298.00 WRIGHT MEDICAL GROUP INC 30,21602 09/0512003 30,632.80 08108n003 (41678) 0.00 893-00 Closure Medical Corporation 21,575.02 09/08/2003 21,09284 07/1 &12003 482.18 0.00 1,690.00 Closure Medical Corporation 40,830.67 09/0812003 39,921 .35 07/21/2003 909.32 0.00 5,098.00 Candela Corp. 75,732.83 09/08/2003 57,88653 05/01/2003 17,946 .30 0.00 3,181 .00 Candela Corp. 47,255.03 09/08/2003 36,123.44 05/07/2003 11,131 .59 0.00 D,riehaus Capital Management Friday January 23, 2004 16:44:47 Page 43 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Descrivtion Proceeds Date cost Rate Gain (- Loss) Premium Discount) 742 .00 Kensey Nash Corp 21,108 .98 09/08/2003 20,877 .80 08/1512003 231 .18 0.00 2,29G,00 Kensey Nash Corp 65,375 .25 09108/2003 66,357 .51 09/18/2003 (982 .26) 0.00 3,30400 Wireless Facilities, Inc. 47,54661 09/09/2003 29,021 .29 05/1412003 18,525 .32 0.00 1,667.00 Closure Medical Corporation 40,693-72 09/09/2003 39,37487 07/18/2003 1,318.85 0.00 1,474.00 Candela Corp . 22,078 .29 09/09/2003 16,738 .74 05/07/2003 5,339.55 0.00 2,913.00 Innovex Inc. 39,288-50 09/09/2003 25,427 .20 04/1612003 13,861 .30 0.00 2,707.00 Innovex Inc. 36,510.11 09109/2003 25,361 .34 04/17/2003 11,148 .77 0.00 3,293.00 Innovex Inc. 44,413 .67 09/09/2003 28,97840 04/30/2003 15,435 .27 0.00 2,443.00 Innovex Inc. 32,949.47 09/09/2003 24,280 .48 05/19/2003 8,668.99 0.00 3,285.00 Innovex Inc. 44,305 .77 09/09/2003 32,181 .50 05/20/2003 12,124.27 0.00 2,381.00 Innovex Inc. 32,113-25 09/0912003 23,196 .42 05121/2003 8,91683 000 335.00 Kensey Nash Corp 9,513-55 09/0912003 9,425.96 08/15/2003 87 .59 0.00 2,236.00 Lexar Media Inc. 38,869.46 09/09/2003 24,005 .12 07/08t2OO3 14,864.34 000 6,099.00 Lexar Media Inc. 106,021 .85 09/0912003 77,438 .39 07/1 &-2003 28,583 .46 0.00 2,105.00 Lexar Media Inc. 36,644-38 09/09/2003 26,359-91 07121/2003 10,294.47 0.00 4,271 .00 Navigant Consulting Co 65,215 .94 09/09/2003 45,270.33 06/13f2003 19,945 .61 0.00 1,266.00 Wireless Facilities, Inc. 17,026.89 09/09/2003 11,120 .14 05/14/2003 5,906.75 0.00 1,375.00 Closure Medical Corporation 29,696.81 09/10/2003 32,477 .78 07/1812003 (2,780.97) 0.00 10,493 .00 Innovex Inc. 123,634-56 09/10/2003 91,592 .06 04/16f2003 32,042.50 0.00 4,738.00 Innovex Inc. 55,825.84 09/10/2003 40,917 .28 04129/2003 14,908.56 0.00 589.00 Navigant Consulting Co 8,285.60 09/1012003 5,972.58 05128t2OO3 2,313.02 0.00 4,480.00 Navigant Consulting Co 63,021-21 09/1012003 47,485 .62 06113/2003 15,535 .59 0.00 4,922.00 Airtran Holdings Inc. 81,969.66 09/11/2003 63,359.63 07/30/2003 18,610.03 000 4,456.00 Airtran Holdings Inc. 75,747 .99 09/11/2003 57,044.36 08108/2003 18,703 .63 000 3,053.00 Lexar Media Inc. 50,405 .40 09/11/2003 23,690.76 06102/2003 26,714.64 0.00 388.00 Lexar Media Inc. 6,405.93 09/11/2003 3,073.77 06/04/2003 3,332.16 0.00 4,905.00 Lexar Media Inc. 80,982.15 09/11/2003 52,658 .82 07/08/2003 28,323 .33 000 1,532.00 Nil Holdings Inc - C1 B 90,305 .33 09/11/2003 75,385 .28 07/31/2003 14,920.05 0.00 428.00 Nil Holdings Inc - C1 B 25,228 .90 09/1112003 22,179.22 08/01/2003 3,049.68 0.00 77.00 Nil Holdings Inc - Cl B 4,538.84 09/11/2003 3,77001 08/0412003 768.83 0.00 46.00 Nil Holdings Inc - C1 B 2,711.52 09/11/2003 2,252.84 08/05/2003 458.68 0.00 682.00 Nil Holdings Inc - Cl B 40,201 .20 09/1112003 33,629.42 08108r2003 6,571.78 0.00 1,432.00 Nil Holdings Inc - Cl B 84,410.72 09/11/2003 77,667 .53 08/12/2003 6,743.19 000 849.00 Nil Holdings Inc - C1 B 50,045 .18 09/11/2003 47,236.92 08/13/2003 2,808.26 000 368.00 Airtran Holdings Inc. 6,503-69 09/15/2003 4,512.08 07/08/2003 1,99161 0.00 3,331.00 Airtran Holdings Inc. 58,868 .99 09/15/2003 42,642 .45 08/08/2003 16,226.54 0.00 1.271 .00 K Two Inc 21,19038 09/1512003 22,883 .08 08/13/2003 (1,692 .70) 0.00 1,317.00 K Two Inc 21,957-30 09/1512003 23,742.74 08/15/2003 (1,785 .44) 0.00 563.00 K Two Inc 9,386.46 09/15/2003 10,152 .64 09/09/2003 (766 .18) 0.00 2,071 .00 Mannatech Inc 15,448.92 09/15/2003 16,541 .70 09/09/2003 (1,092 .78) 0.00 92.00 Mannatech Inc 686-29 09/15/2003 726.80 09/10/2003 (40 .51) 0.00 140 .00 Ultralifc Batteries hic 1,548.89 M/ 1 S/200- 3 1,34645 05/2&7003 202.44 0.00 Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 44 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

1.403.00 Ultralife Batteries Inc 15,522 .06 09/15/2003 13,801 .59 07/01/2003 1,720.47 0.00 2,193.00 Ultralife Batteries Inc 24.262.20 09/15/2003 22,074 .57 07/08/2003 2,187.63 0.00 3,695.00 ValucClick, Inc. 32,81361 09115/2003 18,385 .84 05/29/2003 14,427 .77 0.00 3,912.00 ValueClick, Inc. 34,740 .69 09/15/2003 21,029 .73 06/0212003 13,71096 0.00 2,417.00 GSI Commerce Inc 26,615 .45 09/1612003 29,948 .26 09/02/2003 (3,232 .81) 0.00 2,766.00 GSI Commerce Inc 30,458 .56 09/1612003 34,160 .10 09/03/2003 (3,701 .54) 0.00 1,520.00 GSI Commerce Inc 16,737.89 09/1612003 18,218 .72 09/0512003 (1,480.83) 0.00 3,133.00 K Two Inc 52,38066 09/1612003 56,406 .53 08/13/2003 (4,02587) 0.00 10,86300 Lexar Media Inc. 210,902 .83 09/16(2003 78,315 .67 05/2712003 132,587 .16 0.00 9,096-00 Lexar Media Inc. 176,596 .90 09/16/2003 70,58342 06/0212003 106,013 .48 0.00 5,410.00 Microsemi Corp. 98,836.04 09/1612003 106,565 .10 0&'29/2003 (7,729.06) 0.00 2,703.00 Microsemi Corp. 49,418.02 09/16/2003 53,634 .74 09/02/2003 (4,216 .72) 0.00 2,656.00 Microsemi Corp. 48,522.83 09/1612003 52,99411 09/05/2003 (4,471 .28) 0.00 2,152.00 Microserni Corp. 39,315 .19 09/1612003 43,276 .72 09/09/2003 (3,961 .53) 0.00 1,697.00 Mannatech Inc 12,608 .10 09/1612003 13,406 .30 09/1012003 (798 .20) 0.00 70.00 Mannatech Inc 520.08 09/1612003 551 .04 09/11/2003 (30.96) 0.00 1,581-00 Omnicell Inc 24,985.74 09/16/2003 11,258 .18 06tO2/2003 13,727 .56 0.00 6,520.00 Omnicell Inc 103,040.49 09/16/2003 65,46089 07/01/2003 37,579 .60 0.00 4,575.00 Tetra Technologies Inc. 99,482.36 09/16/2003 107,68025 08/18/2003 (8,197 .89) 0.00 1.057.00 Tetra Technologies Inc. 22,984.23 09/16/2003 23,891 .37 09/0912003 (907.14) 0.00 4,263.00 Ultralife Batteries Inc 47,100.44 09/16/2003 40,999 .30 05/28/2003 6,101 .14 0.00 1,873.00 Ultralife Batteries Inc 20,694.14 09/1612003 17,385 .19 05129f2003 3,308.95 000 1,396.00 Ultralife Batteries Inc 15,423.93 09/1612003 12,684 .80 06/02/2003 2,739.13 0.00 14,254.00 ValueClick, Inc. 130,137 .98 09/16/2003 64,82225 05/13/2003 65,315 .73 0.00 4,972.00 ValueClick Inc. 45,394.00 09/16f2003 24,593 .52 05/28/2003 20,800 .48 0.00 3,347.00 ValueClick, Inc. 30,557 .87 09/16/2003 16,654 .24 05/29/2003 13,903 .63 0.00 778.00 Vital Images Inc 17,869.81 09/1612003 16,586 .96 07/23/2003 1,282.85 0.00 21.00 Vital Images Inc 482.35 09/16t2003 48370 07/29/2003 (1.35) 0.00 756-00 GSI Commerce Inc 8,24846 09/17/2003 8,82252 08/19/2003 (57406) 0.00 3,152.00 GSI Conynerce Inc 34,390.41 09/17/2003 37,473 .81 08/20/2003 (3,083 .40) 0.00 4.432-00 GSI Commerce Inc 48,356.06 09/17/2003 53,121 .95 09/05/2003 (4,765 .89) 0.00 2,009.00 K Two Inc 33,656.39 09/17/2003 36,170.04 08/13/2003 (2,513.65) 0.00 1,207.00 Mannatech Inc 8,554.81 09/17/2003 9,501.50 09/11/2003 (946.69) 0.00 1,225.00 Tetra Technologies Inc. 26,698 .35 09/1712003 27,688 .68 09/09/2003 (990.33) 0.00 3,432.00 Vital Images Inc 79,320.77 09/17/2003 73,17024 07/23/2003 6,15053 0.00 1,407.00 K Two Inc 23,411 .23 09/18/2003 25,331 .63 08/13/2003 (1,920.40) 0.00 483.00 Mannatech Inc 3,467.77 09/18/2003 3,802.18 09/11/2003 (334.41) 0.00 5,759.00 Navigant Consulting Co 78,092 .03 09/18/2003 58,397.45 05128/2003 19,694 .58 0.00 9,519.00 Navigant Consulting Co 129,077 .63 09/18/2003 94,819.41 0610212003 34,258 .22 0.00 3,518.00 Navigant Consulting Co 47,704.08 09/18/2003 34,021 .44 06104/2003 13,682 .64 0.00 4,605.00 Orrinicell Inc 70,803 .60 09/1&'2003 32,791 .85 06102/2003 38,011 .75 0.00 109 .00 Ultralife Batteries Inc 12,872 .77 09/1812003 8,623.13 05/21/2003 4,24964 0.00 Dfiehaus Capital Management Friday January 23, 2004 16:44:47 Page 45 Gains.and Loss Reportfrom 1110112002 to .1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unarnortized Bond Ouantit Security Description Proceeds Rate cost Date Gain (- Loss) Prernium Discount)

5,311.00 Ultralife Batteries Inc 67,757 .45 09/18/2003 48,258.56 06/02/2003 19,498 .89 0.00 3,721.00 Ultralife Batteries Inc 47.472.31 09/18/2003 33,633.37 06103/2003 13,838 .94 0.00 8,543.00 Frontier Airlines Inc 142,204.89 09/19/2003 108,346.10 07/08/2003 33,858 .79 0.00 4,208.00 Frontier Airlines Inc 70,04544 09/1912003 52,65891 0712912003 17,386 .53 0.00 4,233.00 Frontier Airlines Inc 70,461 .58 09/19/2003 58,121 .21 08/08/2003 12,340.37 0.00 8,466.00 Frontier Airlines Inc 140,923 .17 09/19/2003 126,62512 08/1212003 14,298 .05 0.00 4,515.00 Frontier Airlines Inc 75,155 .69 09/19/2003 74,294.33 08/19/2003 861 .36 0.00 3,883.00 Frontier Airlines Inc 64,635.56 09/19/2003 64,310 .63 08/2012003 324.93 0.00 96.00 K Two Inc 1,506.03 09/19/2003 1,729.38 08/13/2003 (222.35) 0.00 204.00 K Two Inc 3,200.30 09/19/2003 3,66684 09/0212003 (466 .54) 0.00 1,454.00 K Two Inc 22,81000 09/19/2003 26,084 .32 09/05/2003 (3,274 .32) 0.00 2,279.00 K Two Inc 35,752.41 09/1912003 41,030 .66 09/08/2003 (5,27825) 0.00 314.00 Mannatech Inc 2,229.29 09/1912003 2,471 .81 09/11/2003 (242 .52) 0.00 3,825.00 Ultralife Batteries Inc 48,658 .97 09/19/2003 32,689 .29 05/21/2003 15,969.68 000 198.00 K Two Inc 3,198.71 09/22/2003 3,552.06 09/05/2003 (353 .35) 0.00 282.00 Mannatech Inc 1.986 .31 09/2212003 2,164.21 06130/2003 (177 .90) 000 I G9.00 Mannatech Inc 767.76 09/22/2003 837 .25 08/04/2003 (69 .49) 0.00 212.00 Mannatech Inc 1,49325 09/22f2003 1,668.86 09/11/2003 (175 .61) 0.00 3,781 .00 Ultralife Batteries Inc 46,513 .93 0912212003 32.313 .25 05/21/2003 14,200.68 0.00 2.982.00 Columbia Laboratories Inc. 47,716 .91 09/23/2003 42,609 .50 09/0912003 5,107.41 0.00 1,482.00 Columbia Laboratories Inc. 23,714 .44 09/2312003 20,917 .69 09/10/2003 2,796.75 0.00 5,952.00 M Systems Flsh Dsk Pionr 95,287 .03 09123/2003 104,103 .46 09/0912003 (8,816 .43) 0.00 394.00 K Two Inc 6,323.56 09/23/2003 7,068.24 09/05/2003 (744 .68) 000 11,662 .00 Lexar Media Inc. 227,151 .08 09/23/2003 70,736 .06 05121/2003 156,415 .02 0.00 506.00 Lexar Media Inc. 9,855.81 09/23/2003 3,149.85 05/2212003 6,705.96 0.00 1,286.00 Lexar Media Inc. 25,048 .56 09/23/2003 9,271.28 0512712003 15,777 .28 0.00 288.00 Mannatech Inc 1,987.10 09/2312003 2,210.26 06130/2003 (223 .16) 0.00 4,487.00 Navigant Consulting Co 60,616 .96 09/23/2003 43,39232 W04/2003 17,224 .64 0.00 5,305.00 Ultralife Batteries Inc 61,554 .72 09/2312003 45,337 .69 05/2112003 16,217 .03 0.00 4,647.00 ValueCfick, Inc. 45,067 .76 09/23/2003 20,721 .23 05/05/2003 24,346 .53 0.00 5,800.00 ValueCfick, Inc. 56,249 .83 09123/2003 26,376.39 05/13/2003 29.873 .44 0.00 1.134.00 Columbia Laboratories Inc. 17,885 .97 09/24t2003 15,245 .38 08/0V2003 2,640.59 0.00 342.00 Columbia Laboratories Inc. 5,394.18 09/24/2003 4,651.20 08/05/2003 742.98 0.00 3,001.00 Columbia Laboratories Inc. 47,333 .14 09/24/2003 42,357 .61 09/10/2003 4,975.53 0.00 3,92600 M Systems Ftsh Dsk Pionr 63,323 .39 09/24t2003 68,55306 09/05/2003 (5,229 .67) 0.00 671 .00 M Systems Fish Dsk Pionr 10,822 .72 09124/2003 11,736.13 09/09/2003 (913 .41) 0.00 580.00 K Two Inc 9,14657 09/2412003 10,339 .66 08/18/2003 (1,193 .09) 000 130 .00 K Two Inc 2,050.09 09/24t2003 2,332 16 09/05/2003 (282 .07) 0.00 258.00 Mannatech Inc 1,683.37 09/24/2003 1,98002 06/3012003 (296.65) 0.00 605.00 Mannatech Inc 3,947.44 09124t2003 4,259.62 07/11/2003 (312.18) 0.00 5,899.00 Navigant Consulting Co 79.193.85 09/24/2003 54,322 .73 05/2312003 24,871 .12 0.00 6,800.00 Navigant Consulting Co 91,289 .74 09rz4/2003 65,547 .43 05127/2003 25.742 .31 0.00

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1,401 .00 Navigant Consulting Co 18,808 .37 09/2412003 13,548.62 06/0412003 5,259.75 0.00 12,058 .00 ValueClick, Inc. 110,411 .11 09124/2003 53,652.06 05/02/2003 56,759 .05 0.00 4.768.00 ValueClick. Inc. 43,659.00 09/24/2003 21,260.78 05/05/2003 22,398 .22 0.00 538.00 Ebookers .com pic-spons ADR 9,903.36 09/25/2003 10,130.54 07/29/2003 (227 .18) 0.00 2,087.00 Ebookers .com pic-spons ADR 38,416.94 09/25/2003 42,261 .75 09/09/2003 (3,844.81) 0.00 3,461 .00 GSI Commerce Inc 34,79149 09125/2003 40,215.03 09/18/2003 (5,423 .54) 0.00 3,791 .00 GS1 Commerce Inc 38,108.80 09/2512003 44,240.97 08/19/2003 (6,132.17) 0.00 1,261 .00 K Two Inc 20,228.51 09/2512003 22.479.85 08118/2003 (2,251 .34) 0.00 981 .00 Mannatech Inc 6,376.20 09/2512003 6,605.86 06/2712003 (229.66) 000 56000 Mannatech Inc 3,639.83 09/2512003 3,633.34 07/09/2003 6.49 0.00 74.00 Mannatech Inc 480.98 0912512003 521 .01 07/11/2003 (40.03) 0.00 8,948.00 ValueClick, Inc. 75,509 .43 09/25/2003 39,814 .12 05/02/2003 35,695 .31 0.00 1,920.00 Vistacare Inc-cl A 57,490 .16 0912512003 42,194 .88 05/05/2003 15,295 .28 0.00 1,393.00 Vistacare Inc-cl A 41,71031 09/2512003 32,037 .89 05/07/2003 9,67242 0.00 1,668.00 Vistacare Inc-cl A 49,944 .58 09/2512003 57,808 .21 09/1612003 (7,863 .63) 0.00 1,404.00 Ebookers .com, plc-spons ADR 24,699 .13 0912612003 22,744 .80 06/10/2003 1,954.33 0.00 996-00 Ebookers .com pic-spons ADR 17,521 .60 09/26/2003 17,230 .80 06113/2003 290.80 0.00 2,731 .00 Ebookers .com plc-spons ADR 48,043 .67 09/2612003 51,424 .73 07/29/2003 (3,381 .06) 0.00 4,168.00 GSI Commerce Inc 40,326 .24 09/2612003 48,430 .00 09/18/2003 (8,103 .76) 0.00 3,923-00 GSI Commerce Inc 37,955 .82 09/2612003 45,468 .35 08/26/2003 (7,512 .53) 0.00 648.00 K Two Inc 10,032 .18 09/2612003 11,551 .90 08/18/2003 (1,519 .72) 0.00 3,243.00 Mannatech Inc 20,804 .02 09/2612003 20,126 .67 0612612003 677.35 0.00 374 .00 Mannatech Inc 2,399.23 09/26/2003 2,426.55 (17/0912003 (27 .32) 0.00 113 .00 Vistacare Inc-cl A 3,378.54 09/26/2003 2,308.22 04/30/2003 1,070.32 0.00 1,558.00 Vistacare Inc-cl A 46,582 .01 09/26(2003 34,239 .39 05/05/2003 12,342.62 0.00 1.00 Cash in lieu - Short Tenn 10.00 09/29/2003 0.00 09/29/2003 10 .00 0.00 523 .00 K Two Inc 7,760.69 09/29/2003 9,150.15 09/12/2003 (1,389 .46) 0.00 321 .00 K Two Inc 4.763.25 09/2912003 5,722.47 08/ 1 W003 (959 .22) 0.00 3,094.00 Mannatech Inc 18,282 .19 09/2912003 19,201 .95 06/26/2003 (919 .76) 0.00 422.00 Mannatech Inc 2,493.56 09/2912003 2,586.20 07/08/2003 (92 .64) 0.00 5,739.00 ValueClick. Inc. 47,745 .47 09/29/2003 25,535 .67 05/02/2003 22,209 .80 0.00 3,958.00 ValueClick, Inc. 32,92848 09/29/2003 17,260.65 05/06t2OO3 15,667 .83 0.00 1,610.00 K Two Inc 23,717 .40 09/30/2003 28,167 .75 08/12/2003 (4,450.35) 0.00 1,898.00 Mannatech Inc 10,29067 09/30/2003 11,631 .78 07/0812003 (1,341 .11) 0.00 258.00 Airtran Holdings Inc. 4,33071 10/01/2003 3,16336 07/08/2003 1,167.35 0.00 312.00 Columbia Laboratories Inc. 3,435.95 1 W 1/2003 4,19450 08/0412003 (758 .55) 0.00 758.00 Diamondcluster Intl . 5,169.31 10101/2003 5,43972 09/16/2003 (270.41) 0.00 1,663.00 Ebookers; corn plc-spons ADR 29,400.45 10101/2003 26,46199 06109/2003 2,938.46 0.00 4,304.00 Ebookers com plc-spons ADR 76,091 .14 1 Qf0 1 /2003 69,724.80 06t 10/2003 6,366.34 0.00 247-00 M Systems Fish Dsk Pionr 3,78386 10/0112003 4,312.94 09/05/2003 (529 .08) 0.00 1,894.00 K Two Inc 29,954 .18 1 Qf0 112003 31,554.74 08/11/2003 (1,600.56) 0.00 209.00 K Two Inc 3,322.94 10(0112003 3,656.56 08/1212003 (333 .62) 0.00 Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 47 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unilmortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount) 408.00 K Two Inc 6,486.89 10/01/2003 7,115.52 09/10/2003 (628.63) 0.00 3,937.00 Magma Design Automation 73,792.44 1010112003 93,641 .55 09/04/2003 (19,849.11) 000 607.00 Concord Camera Corp. 6,43389 10/01/2003 7,564.56 09/18/2003 (1,130 .67) 0.00 525.00 Lionbridge Technologies Inc. 3,837.56 10/01/2003 4,589.02 09/08/2003 (751 .46) 0.00 183.00 Merit Medical Systems Inc. 4,077.04 10101/2003 4,295.74 09/17/2003 (218.70) 0.00 693.00 Mobility Electronics Inc 5,468.27 10/01/2003 6,475.72 09/22/2003 (1,007 .45) 0.00 152.00 Mannatech Inc 875.18 10/01/2003 931 .52 07/08/2003 (56.34) 0.00 463.00 Onnnicell Inc 7,193.75 10101/2003 3,29699 06t0212003 3,896.76 0.00 370.00 Sonic Solutions 5,233.40 1010112003 5,823.80 09/1612003 (590.40) 0.00 676.00 StmOpta Inc 6,296.91 1 Qf0 1 /2003 5,47605 08/11/2003 820.86 000 640.00 Terayon Communication Sy 3,545.17 1=112003 5,221 .22 09/09/2003 (1,676 .05) 0.00 6,248.00 Terayon Communication Sy 34,845 .51 1=112003 43,058.09 09/02/2003 (8,212.58) 0.00 3,683.00 Terayon Communication Sy 20,540.34 lOtOl/2003 25,57026 09/03/2003 (5,029.92) 0.00 8,616.00 Terayon Communication Sy 48,052.01 1=112003 70,29064 0910912003 (22,238.63) 0.00 1 .283.00 Ebookers .com plc-spons ADR 21,698 .09 1 Qt02/2003 20,415 .35 060912003 1,282.74 000 5,530.00 Ebookers .com pic-spons ADR 83,834 .72 1 G(03/2003 86,812.15 06106/2003 (2,977.43) 0.00 2,940.00 Ebookers .com pic-spons ADR 44,570.36 10/03/2003 46,781 .87 06fO9/2003 (2,211.51) 000 2,148.00 LCA Vision Inc 31,924 .65 lOtO6t2OO3 33,799 .21 08/28/2003 (1 .874.56) 0.00 4,356.00 LCA Vision Inc 64,741 .05 lOtO6/2003 67,696.60 08/29/2003 (2,955.55) 0.00 1,420.00 LCA Vision Inc 21,104 .75 10/0612003 22,379.20 09/02/2003 (1,274.45) 0.00 3,768.00 LCA Vision Inc 56,001 .90 10106/2003 59,383 .68 09/05/2003 (3,381.78) 0.00 5,782.00 LCA Vision Inc 85,934.98 10/06/2003 97,905 .45 09/0912003 (11,970.47) 0.00 2,557.00- Airtran Holdings Inc. 49,265.95 10/07/2003 28,755 .33 07/02t2OO3 20,510.62 0.00 4,096.00 Airtran Holdings Inc. 78,918.01 lQt07/2003 50,221 .47 07/0W003 28,696.54 0.00 3,793.00 Bentley Pharmaceuticals 56,478.14 10107/2003 59,527 .34 08/11/2003 (3,049.20) 0.00 1,643.00 Ben fley Pharmaceuticals 24,464.43 10t07/2003 26,53921 08/12/2003 (2,074.78) 0.00 118.00 Bentley Pharmaceuticals 1,757.03 10f07/2003 1,88907 08/13/2003 (132.04) 000 1,962.00 Bentley Pharmaceuticals 29,214.37 1 GtG7/2003 30,494.19 08/18/2003 (1,279.82) 000 1,490.00 Bentley Pharmaceuticals 22,18625 10/07/2003 27,097 .74 09/1612003 (4,911.49) 0.00 1,525.00 Bentley Pharmaceuticals 22,707 .40 1 Qt0712003 28,738.78 09/17/2003 (6,031.38) 0.00 2,656.00 Magma Design Automation 52,106.67 1 OtO7/2003 63,172.96 09/0412003 (11,066.29) 000 2,354.00 Magma Design Automation 46,181.89 1 QtO7/2003 54,407 .30 09/05/2003 (8,225.41) 000 2,952.00 Magma Design Automation 57,913 .74 1 GtO7/2003 69,814.80 09/09/2003 (11,901.06) 000 269.00 LCA Vision Inc 4,007.91 1 GtO7/2003 3,717.58 07/30/2003 290.33 0.00 5,593.00 LCA Vision Inc 83,331 .77 1 W0712003 82,260.17 08/18/2003 1,071.60 000 485.00 LCA Vision Inc 7,226.16 10107/2003 7,537.38 08/29/2003 (311.22) 0.00 2,536.00 Concord Camera Corp. 27,649 .80 10107/2003 31,164.65 09/1612003 (3,514.85) 0.00 178.00 Concord Camera Corp. 1,940.72 10107/2003 2,192.96 09/17/2003 (252.24) 000 3,346.00 Concord Camera Corp. 36,481 .16 10107/2003 41,698.52 09/18/2003 (5,217.36) 0.00 1 .535.00 Concord Camera Corp. 16,735 .98 10/0712003 19,118.89 09/19/2003 (2,382.91) 0.00 5,242.00 Omnicell Inc 81,792 .83 10/0712003 37,327 .87 06/0212003 44,464.96 0.00 1,440.00 Oninicel, hic 22,46884 1 WOW-20003 10,288 6d 06-10-d/2003 12.180.20 0.00

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363.00 Ventana Medical Sys Inc 14,718 .96 1 W07/2003 13,746 .81 07/29/2003 972AS 0.00 1,509.00 Ventana Medical Sys Inc 61,187 .08 10t07/2003 60,586 .35 08t2g/2003 600.73 0.00 895.00 Ventana Medical Sys Inc 36,290 .55 10/07/2003 39,791 .70 09/18/2003 (3,501 .15) 0.00 955.00 Ventana Medical Sys Inc 38,723 .43 10/07/2003 42,659 .85 091W2003 (3,936.42) 0.00 3,365.00 Vistacare Inc-cl A 112,553 .96 1 Qt0712003 68,735 .85 04/30/2003 43,818 .11 0.00 5,556.00 Bentley Pharm2ceuticals 83,852 .20 10108/2003 82,823 .85 08/08/2003 1,028.35 0.00 2,029.00 Bentley Pharmaceuticals 30,622 .05 10/08/2003 31,535 .53 Oa/18/2003 (913 .48) 0.00 2,259.00 Ditech Communications 20,371 .71 1010&'2003 23,512 .35 09/23/2003 (3,140 64) 0.00 9,644.00 Ditech Communications 86,969 .79 10t08/2003 97,278 .33 09/24/2003 (10,30854) 0.00 5,613.00 LCA Vision Inc 83,448 .46 10/08/2003 69,697 .74 07/23/2003 13,750 .72 0.00 4,901.00 LCA Vision Inc 72,863 .16 10/08/2003 67,044 .70 07/29/2003 5,81846 0.00 440.00 LCA Vision Inc 6,541.48 10/0812003 6,080.80 07/30/2003 46068 000 1,991.00 Concord Camera Corp. 21,970 .92 10108/2003 22,393 .18 08/22r2003 (422 .26) 0.00 5,030.00 Concord Camera Corp. 55,506 .65 10108/2003 60,171 .88 09/02/2003 (4,665 .23) 0.00 3,117.00 Concord Camera Corp. 34,396 .46 10/08/2003 37,372 .83 09/03/2003 (2,976.37) 0.00 1,647.00 Concord Camera Corp. 18,174 .84 1 Qt08/2003 20,239 .82 09/16/2003 (2,06498) 0.00 181.00 Omnicell Inc 2,823.47 10/08/2003 1,275.29 05/13/2003 1,548.18 0.00 3,797.00 Omnicell Inc 59,230 .41 10/08/2003 26,945 .31 05/28/2003 32,285 .10 0.00 633 .00 Omnicell Inc 9,874.33 l(W08/2003 4,481 .64 05/30/2003 5,392.69 0.00 2,360.00 Omnicell Inc 36,814 .26 1 Qt08/2003 16,861 .95 06104/2003 19,952 .31 0.00 638.00 Columbia Laboratories Inc. 7,090 86 10/10/2003 7,964.92 07/08/2003 (874.06) 0.00 756.00 Columbia Laboratories Inc. 8,402.34 10/1012003 9,829.44 07/09/2003 (1,427 .10) 0.00 1,683.00 Columbia Laboratories Inc. 18,705.21 10/1012003 21,721 .13 07/29/2003 (3,015 .92) 0.00 I,W.00 Columbia Laboratories Inc. 20,51683 10/10/2003 23,916 .04 07/30/2003 (3,399 .21) 0.00 3.197.00 Columbia Laboratories Inc. 35,532 .12 10110/2003 42,136 .46 Oa/01/2003 (6,604.34) 0.00 1,033.00 Columbia Laboratories Inc. 11,480.98 IWO/2003 13,887 .5S 08/04/2003 (2,406.57) 0.00 2,700.00 Columbia Laboratories Inc. 30,008.36 10/10/2003 33,897 .96 08/08/2003 (3,889 .60) 0.00 3,645.00 FINDWHAT.COM 67,10566 10110/2003 98,836 .00 09/09/2003 (31,730.34) 0.00 11,903.00 Inidne Pharmaceutical Co 50,746 .60 10/10t2003 56,454 .63 09123/2003 (5,708 .03) 0.00 1,676.00 Inkine Pharmaceutical Co 7,145.37 10/10/2003 7,916.46 09/24/2003 (771 .09) 0.00 6,358.00 Concord Camera Corp. 71,656 .33 10110/2003 70,330 .27 08/19/2003 1,326.06 0.00 4,046.00 Concord Camera Corp. 45,599 .48 10/10/2003 44.546 .86 08/20/2003 1,052.62 0.00 2,854.00 Concord Camera Corp. 32,165 .33 10/1012003 31,237 .03 08/21/2003 928.30 0.00 1,205.00 Concord Camera Corp. 13,580.67 10/1012003 13,552 .88 08f22/2003 27.79 0.00 1,99600 SunOpta Inc 19,662.29 1 Ot 1012003 11,320 .94 05/05/2003 8,341 .45 0.00 7,04500 SunOpta Inc 69,39921 10/1012003 51,752 .93 07/29/2003 17,646 .28 0.00 7.157.00 SunOpta Inc 70,50251 10/10/2003 57,976.41 08/11/2003 12,526 .10 0.00 5,301.00 Columbia Laboratories Inc. 46,854.21 10113/2003 66,178.74 07/0&'2003 (19,324 .53) 0.00 2,590.00 Columbia Laboratories Inc. 22,892.36 10/1312003 32,146 .58 09/07/2003 (9,254 .22) 0.00 11,518 .00 Inkine Pharmaceutical Co 49,430.25 10113/2003 52,498 .32 09/19/2003 (3,06807) 0.00 5,91800 Inkine Pharmaceutical Co, 25,397 .49 10/1312003 27,953 .24 09/24/2003 (2,555 .75) 000 92000 Concord Camera Corp. 10,156.32 10/1312003 9,826.80 08/1512003 32952 0.00 Djiehaus Capital Management Friday January 23, 2004 16:44:47 Page 49 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

3,833.00 Concord Camera Corp . 42,314 .32 1011312003 41,406 .75 08/18/2003 907.57 0.00 164 .00 Concord Camera Corp . 1,810.47 10/1312003 1,794.98 08/21/2003 15 .49 0.00 2,405.00 SunOpta Inc 23,670 .66 IQtI3/2003 13,640 .59 05/0512003 10,030 .07 0.00 4,326.00 SunOpta Inc 42,577 .67 10t13/2003 22,652 .90 05/1312003 19,924 .77 0.00 6,575.00 SunOpta Inc 64,712 .94 lGtl3/2003 33,619 .70 05/14/2003 31,093 .24 0.00 1,328.00 Brookstone Inc 26,611 .87 1 Ot 14/2003 26,328 .70 08/22/2003 283 .17 000 1,578.00 Brookstone Inc 31,621 .63 10/14/2003 33,138 00 09/24/2003 (1,516.37) 0.00 3,503.00 Columbia Laboratories Inc. 31,239 .12 IQtl412003 40,469 .46 06/26t2003 (9,230.34) 0.00 1,94600 Columbia Laboratories Inc. 17,35408 1 Ot 14/2003 22,395 .74 06/27/2003 (5,041 .66) 0.00 5,454.00 Columbia Laboratories Inc. 48,637 .79 10t1412003 60,812 .10 07/01/2003 (12,174.31) 0.00 751 .00 Columbia Laboratories Inc. 6,697.28 IWIV2003 9,272.97 08/06t2003 (2,575.69) 0.00 4,159.00 Columbia Laboratories Inc. 37,089 .21 lQtI4/2003 51,620.71 08/07/2003 (14,531 .50) 0.00 1,485.00 FINDWHAT.COM 27,634 .55 l0tI4/2003 28,885 .63 06/1912003 (1,251 .08) 0.00 1,779.00 FINDWHAT.COM 33,105 .63 1 Ot 14/2003 34,408 .71 06120/2003 (1,303 .08) 0.00 1,648.00 FINDWHAT.COM 30,667 .84 10/14/2003 37,493 .32 07/21/2003 (6,825 .48) 0.00 2,429.00 FINDWHAT.COM 45,201 .56 10/14/2003 62,644.88 09/05/2003 (17,443 .32) 0.00 5.00 FINDWHAT.COM 93.05 10/14/2003 135 .58 09/0912003 (42 .53) 0.00 1,340.00 Inlane Pharmaceutical Co 5,63902 IQfl4/2003 2,276.77 11/15/2002 3,362.25 0.00 6,442.00 Inkine Pharmaceutical Co 27,109 .37 10/14t2003 29,362.23 09119/2003 (2,252 .86) 0.00 4,355.00 Inkine Pharmaceutical Co 18,326 .81 1 Ot 14/2003 19,869.38 09/2512003 (1,542 .57) 0.00 1 .316.00 J2 GLOBAL COMMUNICATIONS INC 59,241 .04 1 Ot 14/2003 52,803 .94 09/11/2003 6,437.20 000 1,696.00 J2 GLOBAL COMMUNICATIONS INC 76,347 .12 lGtl4/2003 71,390.75 09/12/2003 4,956.37 000 3,193.00 Merit Medical Systems Inc. 73,295 .38 10/1412003 73,662.83 09/09/2003 (367 .45) 000 1.628.00 Merit Medical Systems; Inc. 37,370.77 IQtI4/2003 37,769.60 09/16t2003 (398 .83) 0.00 1,307.00 Ment Medical Systems Inc. 30,002.21 lQtI4/2003 30,680.52 09/17/2003 (678 .31) 0.00 5,895.00 Mobility Electronics Inc 54,927 .15 10/14/2003 55,085 .69 09122/2003 (158 .54) 000 97400 Mobility Electronics Inc 9,075.32 IQtI4/2003 8,710.98 09/24f2003 364.34 0.00 9,025.00 Mobility Electronics Inc 94,091 .18 10/14/2003 81,280 .20 10103/2003 2,810.98 0.00 1,176.00 Neoware Systems Inc 23,460.09 lGtl4/2003 23,653 .83 09/1112003 (193 .74) 0.00 2,384.00 Neoware Systems Inc 47,558.56 10/14/2003 48,538 .24 09/12/2003 (979 .68) 0.00 62.00 SunOpta Inc 570.86 1 Ot 14/2003 312.83 04/29/2003 258.03 0.00 5,807.00 SunOpta Inc 53,467.03 IQtl4/2003 29,730 .03 05/12t2003 23,737 .00 0.00 3,995.00 SunOpta Inc 36,783.33 IW1412003 20,427 .48 05114/2003 16,355 .85 0.00 874 .00 Ventana Medical Sys Inc 36,901 .78 1 Ot 14/2003 32,840 .99 07/21/2003 4,060.79 0.00 585 .00 Ventana Medical Sys Inc 24,699.70 lOtl4/2003 22,153 .95 07/2912003 2,545.75 0.00 996 .00 Ventana Medical Sys Inc 42,052 .83 10/14/2003 37,447 .91 07/3012003 4,604.92 0.00 2,706.00 Brookstone Inc 54,469 .22 10/15/2003 53,32624 08121/2003 1,142.98 0.00 476.00 Brookstone Inc 9,581.43 1011512003 9,437.09 08/2212003 144 .34 0.00 315 .00 Brookstone Inc 6,340.65 10/15/2003 6,143.11 0&-25/2003 197 .54 0.00 2,370.00 Brookstone Inc 47,70585 10/15/2003 45,978 .00 09/09/2003 1,727.85 0.00 9,291 .00 Inkine Pharmaceutical Co 39,434 .04 1 Ot 1512003 15,786 .19 11/1512002 23,647 .85 0.00 2,280.00 J2 GLOBAL COMMUNICATIONS INC 103,836 .355 IGtI5/200j 911,483 .86 09/11/2003 12,352 .49 0.00

0 0 0 1b

Dfiehaus Capital Management Friday January 23, 2004 16:44:47 Page 50 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Descriptiln Proceeds Date Cost Date Gain (- Loss) Premium Discount)

38.00 Mobility Electronics Inc 350.06 10/15/2003 337.44 09/23/2003 12.62 0.00 3,950.00 Mobility Electronics Inc 36,387.40 10115/2003 35,326 .86 09/24/2003 1,060.54 0.00 2,939.00 Mobility Electronics Inc 27,074.07 10/15/2003 24,905 .08 09125/2003 2,168.99 0.00 2,128.00 Ment Medical Systems Inc. 51,346.43 10117/2003 44,422 .40 08/0112003 6,924.03 0.00 2,008.00 Ment Medical Systems Inc. 48,450 .96 10/17/2003 46,324 .76 09/09/2003 2,126.20 0.00 8,576.00 Omnicell Inc 134,469 .63 10/17/2003 60,424 .98 05/13/2003 74,0".65 0.00 507.00 Orrinicell Inc 7,949.64 10/17/2003 3,584.49 0512912003 4,365.15 0.00 2,119.00 M Systems Fish Dsk Pionr 43,619 .05 10121/2003 37,000 .49 09/05/2003 6,618.56 0.00 4,251.00 M Systems Fish Dsk Pionr 87,505 .69 1012112003 90,157 .76 IG(15/2003 (2,652 .07) 000 5,287.00 Airtran Holdings Inc. 89,394 .69 10/22/2003 59,456 .17 07/0212003 29,928 .52 0.00 757.00 Airtran Holdings Inc. 12,798 .22 10122/2003 8,408.83 07/21/2003 4,389.39 0.00 2,813.00 Airtran Holdings Inc. 47,558 .00 10/22/2003 31,455 .53 07/22/2003 16,102.47 0.00 1,505.00 M Systems Flsh Dsk Pionr 29,600 .60 10/22/2003 25,479 .65 09/0212003 4,120.95 0.00 1,835.00 M Systems Fish Dsk Pionr 36,091 .10 10/22/2003 31,741 .46 09/03/2003 4,349.64 000 404.00 M Systems Fish Dsk Pionr 7,945.94 10/2212003 7,054.37 09/0512003 891 .57 0.00 1.964 .00 M Systems Fish Dsk Pionr 38,62829 10/22/2003 31,718 .60 09/1612003 6,909.69 0.00 5,302.00 Omnicell Inc 74,065 .44 10/2212003 36,952.42 05/0812003 37,113 .02 0.00 759.00 Omnicell Inc 10,602 .73 10122/2003 5,366.13 05/29/2003 5,236.60 0.00 4.145.00 Mobility Electronics Inc 34,540 .36 1012312003 32,"0.24 07/29/2003 2,100.12 000 2,874.00 Mobility Electronics Inc 23,949 .10 10/23/2003 22,928.20 07/30/2003 1,020.90 0.00 1,264.00 Mobility Electronics Inc 10,532 .94 10/23/2003 10,711 .13 09/25/2003 (178 .19) 0.00 982.00 Mobility Electronics Inc 8,183.02 10/23/2003 7,966.87 09/2612003 216.15 0.00 3,520.00 Mobility Electronics Inc 29,539 .86 10/24t2003 25,407.41 07/25/2003 4,132.45 0.00 3,464.00 Mobihty Electronics Inc 29,069 .90 10124/2003 26,242.57 07128/2003 2,827.33 0.00 5,244.00 Mobility Electronics Inc 44,007 .67 10/24/2003 41,041 .40 07/29/2003 2,966.27 0.00 4,727.00 Omnicell Inc 63,140.29 10124/2003 31,464.46 05/07/2003 31,675 .83 0.00 1,381 .00 Omnicell Inc 18,446.53 10/24/2003 9,624.91 05/08/2003 8,821 .62 0.00 8,938.00 Orbital Sciences Corp 79,793 .54 10124/2003 84,633.07 09/1612003 (4,839.53) 000 2,979.00 Orbital Sciences Corp 26,594.87 10124/2003 28,384.81 09/17/2003 (1,789.94) 0.00 1,187.00 Vcntana Medical Sys Inc 44,535 .93 10/24/2003 43,717.21 07/18/2003 818 .72 0.00 1,153.00 Ventana Medical Sys Inc 43,260.26 110/24/2003 43,324.55 07/21/2003 (6429) 0.00 174 .00 Vcntana Medical Sys Inc 6,528.43 10124/2003 6,417.59 07/22/2003 110.84 0.00 1 .987.00 Ventana Medical Sys Inc 73,46985 10/27/2003 68,245 .30 07/1012003 5,224.55 0.00 528.00 Ventana Medical Sys Inc 19,522.94 10/27/2003 19,446 .24 07/18/2003 76.70 0.00 11,808 .00 Airtran Holdings Inc. 197,088.68 10/28/2003 117,743 .22 06/25/2003 79 .345 .46 0.00 3,899.00 Airtran Holdings Inc. 65,078.65 10/2&'2003 42,526 .39 07/01/2003 22,552 .26 0.00 2,056.00 Airtran Holdings Inc. 34,316.93 10128/2003 22,838 .25 07/21/2003 11,478 .68 0.00 236.00 Guess ? Inc. 2,581.00 10/2&P2003 3,026.89 1012012003 (445 .89) 0.00 3,171.00 GSI Commerce Inc 35,695.21 1012&'2003 36,097 .40 08/15/2003 (402 .19) 0.00 1,836.00 GSI Commerce Inc 20,667.42 1012&'2003 21,279 .61 O8f2612003 (612 .19) 0.00 2,531.00 Uonbridge Technologies Inc. 21,596.06 10129/2003 22,123 .47 09/08/2003 (527 .41) 0.00 7,532.00 Uonbridge Technologies Inc. 64,267.70 10/2&-2003 64,753 .66 09/0912003 (485 .96) 0.00 Driehaus Capital Management Friday January 23, 2004 16:44:47 Page 51 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056300 -- RHD FOUNDATION

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Prernium Discount)

8,731.00 Ljonbridge Technologies Inc. 74,498 .31 10/28/2003 73,704 .12 09/1012003 79419 0.00 7,142-00 Lionbridge Technologies Inc. 60,939.98 10/28/2003 66,330 .84 1010912003 (5,390.86) 0.00 1,058.00 Ment Medical Systems Inc. 27,210.48 10128/2003 27,508 .00 10/28/2003 (297 .52) 0.00 1,553-00 Mobility Electronics Inc 12,903 .74 10/2&-2003 10,64966 07/24/2003 2,254.08 000 6,62? 00 Mobility Electronics Inc 55,121 .33 10/2&-2003 47,88432 07/2512003 7,237.01 0.00 1,175.00 NII Holdings Inc - Cl B 81,659 .85 10128/2003 80,863 .50 10/07/2003 796 .35 0.00 3,592.00 Neoware Systems Inc 63,826.83 1012&-2003 72,248 .77 09/11/2003 (8,421 .94) 0.00 6,099.00 Omnicell Inc 82,759.52 10/2&-2003 40,596 .94 05/07/2003 42,162 .58 0.00 2,890.00 Sierra Wireless Inc 48,289.62 10/2&-2003 54,678 .80 10/1412003 (6,389 18) 000 14,054 .00 Terayon Communication Sy 94,828.44 1012&'2003 112,191 .98 10114/2003 (17,363 .54) 0.00 11,572.00 Guess ? Inc. 127,846.18 1 Gt29/2003 105,651 .15 10(03/2003 22,195 .03 0.00 5,786.00 Guess ? Inc. 63,923 .09 10129/2003 57,752 .95 10t(Y7/2003 6,17014 0.00 1,390.00 Guess ? Inc. 15,356.57 10/2912003 17,157 .74 1011412003 (1,801 .17) 0.00 721 .00 Guess ? Inc. 7,965.53 10/2912003 8,943.14 10/15/2003 (977 .61) 0.00 65.00 Guess 9 Inc. 718.11 10129/2003 802.07 10/17/2003 (83 .96) 0.00 679-00 Guess ? Inc. 7,501.52 10/29/2003 8,708.72 10/20(2003 (1,207.20) 0.00 377 00 Guess ? Inc. 4,165.05 10129/2003 4,773.12 10/21/2003 (60807) 000 110 .00 Merit Medical Systems Inc. 2,875.35 10/29/2003 2,15380 07n9/2003 721 .55 0.00 461 .00 Ment Medical Systems Inc. 12,050.34 10/2912003 9,623.46 08/01/2003 2,426.88 0.00 2,747.00 Ment Medical Systems Inc. 71,805 .40 10129/2003 70,812.99 10/20/2003 992.41 0.00 1,147.00 Ment Medical Systems Inc. 29,982 .09 10/29/2003 29,822 .00 10/2812003 160.09 000 845.00 NII Holdings Inc - Cl B 57,340.87 1012912003 58,152 .90 1010712003 (812 .03) 0.00 4,119.00 Terayon Communication Sy 27,735 .60 10/2912003 32,881 .65 10/1412003 (5,146 .05) 0.00 2,594-00 GSI Commerce Inc 25,049.76 10130/2003 28,300.54 08/1V2003 (3,250 .78) 0.00 2,017.00 GSI Commerce Inc 19,477 .79 10130/2003 22,960.72 0811512003 (3,482 .93) 0.00 5,759.00 GS I Commerce Inc 55,613 .57 10/30/2003 65,07561 08/25/2003 (9,462 .04) 0.00 4,458.00 Ciphergen Biosystems Inc. 48,816.10 10/31/2003 62,40086 10107/2003 (13,584 .76) 0.00 2,317.00 Ciphergen Biosystems Inc. 25,371 .67 10/31/2003 31,998 .47 10109/2003 (6,62680) 000 7.882.00 Diamondcluster Intl. 70,01665 10/31/2003 56,564.50 09/1612003 13,452.15 0.00 1,730.00 Diamondcluster Intl. 15,367 .78 10/31/2003 12,282.83 09/17/2003 3,084.95 0.00 2,702.00 Sonic Solutions 47,109 .43 1051/2003 35,801 .50 0810112003 11,307 .93 0.00 5,105.00 Sonic Solutions 89,005 .79 10131/2003 65,866.24 08/04/2003 23,139 .55 0.00 2,592.00 Sonic Solutions 45,191 .58 10131/2003 35,293 .97 08/28/2003 9,897.61 0.00 5,194.00 Sonic Solutions 90,383 .15 IG(3112003 72,479 .58 08/29/2003 17,903 .57 000 5,184.00 Sonic Solutions 90,383 .15 10/31/2003 72,697 .31 09/02/2003 17,685 .84 000 6,262.00 Sonic Solutions 109,178 .11 10/3112003 95,401 .57 09/09/2003 13,776 .54 0.00 4,080.00 Sonic Solutions 71,134.89 10/31/2003 60,483 .96 09/1012003 10,650.93 0.00 4,340.00 Sonic Solutions 75,668 .00 10131/2003 68,311 .60 09/1612003 7,356.40 0.00 1,490.00 Sonic Solutions 25,978 .18 10131/2003 23,407 .60 09/1712003 2,570.58 0.00 3,716.00 Sonic Solutions 64,788 .54 10131/2003 57,590.20 09124/2003 7,198.34 0.00

GAINS ONLY Total 13,152,621 .03

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Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 33 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056404 -- RHD FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

49.00 Westel Technologies Inc. - A 426.51 06/12/2003 257.52 05/07/2003 168 .99 000 546.00 Biolase Tech Inc 7,347.88 06113/2003 3,767.02 02/18/2003 3,58086 0.00 1,441 .00 Ceradyne Inc. 21,432.13 06/13/2003 19,741 .70 05/0812003 1,69043 0.00 216.00 Ceradyne Inc. 3,212.59 06113/2003 2,998.81 05/09/2003 213.78 0.00 533.00 Ceradyne Inc. 7,927.36 06113/2003 8,101.60 05/1412003 (17424) 0.00 303.00 Imax Corp 2,177.19 06/13/2003 1,814.64 09/1612002 362.55 000 445.00 Imax Corp 3,197.53 06113/2003 2,673.29 09/17/2002 52424 0.00 271 .00 Komag Inc 3,013.37 06/1312003 2,512.17 05/15/2003 501 .20 0.00 393.00 Netease.com Inc. ADR 13,21462 06/13/2003 4,480.48 12/31/2002 8,734.14 000 531 .00 Oranivision Technologies 15,960.42 06/13/2003 8,774.99 11/21/2002 7,185.43 0.00 1,013.00 Ornnivision Technologies 30,448 .03 06/13/2003 16,133.95 02/14/2003 14,314 .08 0.00 450.00 Sonus Network 2,005.26 06/13/2003 1,490.74 04/29/2003 514.52 0.00 3,036.00 Sonus Network 13,528 .85 06/13/2003 10,487.82 05/05/2003 3,041 .03 000 331 .00 Westel Technologies Inc. - A 2,884.39 0611312003 1,67486 05/05/2003 1,209.53 0.00 25.00 Westel Technologies Inc. - A 217 .85 06/13/2003 123.85 05/06/2003 94.00 0.00 496.00 Biolase Tech Inc 6,421.85 0611612003 3,422.05 02/18/2003 2,999.80 0.00 219.00 Biosite Diagnostic Inc 9,219.46 0611612003 9,047.04 0410212003 17242 000 544.00 Netease .com Inc. ADR 18,223 .14 06/1612003 6,201.98 12/31/2002 12,021 .16 0.00 129.00 Omnivision Technologies 3,945.52 0611612003 2,054.57 02/14/2003 1,790.95 0.00 73.00 Packeteer Inc 1,051.15 06/1612003 1,113.55 05/15/2003 (62.40) 0.00 148.00 Packeteer Inc 2,131 .10 0611612003 2,237.92 05/1612003 (106.82) 0.00 904.00 Packeteer Inc 13,016.98 0611612003 13,768.19 05/19/2003 (751 .21) 0.00 36.00 Packeteer Inc 518 .38 06/1612003 538.21 05/2012003 (19.83) 000 1,439.00 QUICKLOGIC CORP 4,173.74 06/1612003 5,223.87 06104/2003 (1,050.13) 0.00 720.00 QUICKLOGIC CORP 2,088.32 0611612003 2,597.01 06105/2003 (508 .69) 000 617 .00 QUICKLOGIC CORP 1,789.58 OW1612003 2,401.27 06tl2/2003 (611 .69) 000 463.00 QUICKLOGIC CORP 1,342.91 06/16/2003 1,828.85 06113/2003 (485 .94) 000 1.621.00 Sonus Network 7,106.55 06116/2003 5,369.97 04/29/2003 1,736.58 0.00 591 .00 Vitesse Semiconductor Corp . 2,986.12 06116t2003 2,937.57 05/29/2003 4855 0.00 894.00 Vitesse Semiconductor Corp . 4,517.08 06/1612003 4,867.47 06105/2003 (350.39) 0.00 536.00 Advanced Digital Info. Corp. 5,263.27 0611712003 5,856.01 05/27/2003 (592.74) 0.00 1,794.00 Advanced Digital Info. Corp. 17,616.24 06117/2003 20,021 .04 06105/2003 (2,404.80) 0.00 775.00 Aquantive Inv 7.183.91 06/17/2003 5,166.54 04/23/2003 2,017.37 0.00 543 .00 Biolase Tech Inc 6,559.51 06/17/2003 3,746.32 02/18/2003 2,813 19 0.00 373 .00 Corrections Corp of America 8,73320 06/17/2003 8,269.63 05/20/2003 46357 0.00 353 .00 Corrections Corp of America 8,264.93 06t 17/2003 7,969.79 05/21/2003 295 .14 0.00 363 .00 Corrections Corp of America 8,499.06 06117/2003 8,410.27 05/23/2003 88 .79 0.00 262.00 GlobeSpan Virata Inc 2,106.85 06/17/2003 1,755.87 05/02/2003 35098 0.00 929.00 GlobeSpan Virata Inc 7,470.47 06117/2003 6,365.04 05/07/2003 1,10543 0.00 2,027.00 Netegnty Inc. 11,593 .63 06/17/2003 12,802.73 05/13/2003 (1,209 .10) 000 63.00 Netegrity Inc. 360 .33 06/17/2003 397 .05 05/21/2003 (36.72) 0.00 32.00 Omnivision Technologies 967.37 06117/2003 509.66 02/14/2003 457.71 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 34 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantit Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount 84.00 Sonus Network 372.93 06tl7/2003 27827 04129/2003 94.66 0.00 799.00 Sonus Network 3,547.26 06t 17/2003 2,62447 05/02t2003 922.79 0.00 392.00 Telesp Celular Participacoes - ADR 1,544.23 06(17/2003 1,509.91 04/22/2003 3432 0.00 2,156.00 Telesp Celular Participacoes - ADR 8,493.28 06117/2003 8,54535 0412312003 (5207) 0.00 647.00 Telesp Celular Participacoes - ADR 2,548.77 06tl7/2003 2,58153 04/25/2003 (32.76) 000 704-00 Telesp Celular Participacoes - ADR 2,773.32 06t]7/2003 2,895.06 05/0912003 (12174) 0.00 360-00 Tollgrade Communications 6,839.67 06t 17/2003 7,42680 06tO5/2003 (587.13) 0.00 256.00 Vitesse Semiconductor Corp. 1,272.52 06/17/2003 1,11660 05/14/2003 155.92 0.00 378.00 Vitesse Semiconductor Corp. 1,878.96 06t 17/2003 1,757.88 05/15/2003 121 .08 0.00 1,312.00 Vitesse Semiconductor Corp. 6,521 .67 06tl7/2003 6,295.96 05/28/2003 225.71 000 591 .00 Vitesse Semiconductor Corp. 2,937.73 06/17/2003 2,937.57 05/29/2003 016 0.00 720.00 Biolase Tech Inc 8,940.10 06t 18/2003 4,967.50 02118/2003 3,97260 000 134.00 Biolase Tech Inc 1,663.85 06tl8/2003 913.97 02/2=003 749.88 0.00 101.00 Cell Therapeutics Inc. 1,113.10 06/18/2003 1,291 .79 05/27/2003 (17869) 0.00 43200 Cell Therapeutics Inc. 4,760.97 06/18/2003 5,62036 06tO2/2003 (859.39) 0.00 405.00 Hams Interactive, Inc. 2,626.26 06t 18/2003 2,759.71 W1612003 (133.45) 0.00 745.00 Hams Interactive, Inc. 4,831 .02 0611 V2003 5,087.68 06/17/2003 (256.66) 0.00 1,551.00 Netegrity Inc. 8,181 .06 06118/2003 9,775.02 05/2112003 (1,59396) 0.00 813.00 Netegrity Inc. 4,288.33 06t 18/2003 5,105.64 06t0212003 (817.31) 0.00 24.00 Ornnivision Technologies 738.92 06t 18/2003 382.25 02/1412003 35667 0.00 965.00 Praecis Pharmaceuticals Inc 4,72048 06/18/2003 5,321 .98 06102f2003 (601.50) 0.00 869.00 Praecis Pharmaceuticals Inc 4,250.88 06/18/2003 4,799.66 06103/2003 (548.78) 0.00 1,574.00- Praecis Pharmaceuticals Inc 7,699.52 06/18/2003 8,721 .06 06/04/2003 (1,021.54) 0.00 63000 Sohu com Inc. 20,354 .66 06t 18/2003 4,103.60 12/23/2002 16,251 .06 0.00 34.00 Sohu com Inc. 1,098.51 06(18/2003 286.66 0211812003 811 .85 000 400.00 Sohu com Inc. 12,923.59 0611812003 3,317.48 02/19/2003 9,60611 000 1,310.00 Sonus Network 6,061 .59 06t 18/2003 4,302-95 05/0212003 1,758.64 0.00 73000 Tclesp Celular Participacoes - ADR 2,757.02 06118/2003 2,698.67 04/17/2003 58.35 000 1.045.00 Telesp Cclular Participacoes - ADR 3,946.69 06118/2003 4,025.15 04/22r2OO3 (78.46) 0.00 102.00 Advanced Digital Info. Corp. 991 .41 0611912003 1,114.39 05/27/2003 (122.98) 0.00 60600 Advanced Digital Info. Corp. 5,890.16 06119/2003 6,50353 06102/2003 (613.37) 0.00 1,202.00 Advanced Digital Info. Corp. 11,683.13 06/19/2003 13,088 .82 06tO4/2003 (1,405.69) 0.00 60200 Centillium Communications Inc 6,459.82 06119/2003 5,610.46 05/06/2003 849.36 000 1,36400 Centillium Communications Inc 14,636 .53 06t[9/2003 12,767 .99 05/15/2003 1,868.54 0.00 801.00 Netegrity Inc. 4,212.24 0611912003 5,030.28 06/02/2003 (81804) 0.00 1,101.00 Netegrity Inc. 5,789.86 06/19/2003 6,810.69 06105/2003 (1,020.83) 0.00 419.00 Netease.com Inc. ADR 12,940 .58 06/19/2003 15,314 .20 06/17/2003 (2,373.62) 000 38800 Sohu com Inc. 10,581 .31 06119/2003 2,527.30 12/23/2002 8,054.01 0.00 1,32900 Telesp Celular Participacoes - ADR 4,995.66 06/1912003 4,913.06 04/1712003 82.60 0.00 385.00 Advanced Digital Info. Corp. 3,615.09 0612012003 3,784.55 05/222/2003 (169.46) 0.00 469.00 Advanced Digital Info. Corp. 4.403.84 06/20/2003 5,002.68 05/28/2003 (598.84) 0.00 752.00 Ad-anced Digital Info. Corp. ?;(161.17 06120/2003 8,070.39 06/02/2003 (1,009.22) 0.00

0 -0 - 0- 0- 0 0 9 0 0 0 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 35 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unamortized Bond ouantity Security Descrintl2n Proceeds Date cost Date Gain (- Loss) Premium Discount) 174 .00 Advanced Digital Info. Corp. 1,633.83 06/20/2003 1,941.13 06/0312003 (207 .30) 0.00 187 .00 Ask Jeeves; Inc 2,443.71 06120/2003 1,288.15 02/20/2003 1,155.56 0.00 489.00 Ask Jeeves Inc 6,390.24 06120f2003 6,549.86 06/17/2003 (159 .62) 000 937.00 Ask Jeeves; Inc 12,244 .70 06/20/2003 13,378.11 06t 18/2003 (1,133 .41) 0.00 113 .00 Ask Jeeves Inc 1,476.68 06120/2003 1,637.06 06119/2003 (16038) 0.00 116 .00 Centillium Communications Inc 1,191 .31 06120f2003 1,081.09 05/06/2003 110 .22 0.00 115 .00 Centillium Communications Inc 1,181 .04 06120/2003 1,019.77 05/07/2003 161 .27 0.00 6900 Centillium Communications Inc 708 .62 06/2012003 627.90 05/13/2003 80.72 0.00 652.00 Centillium Communications Inc 6,695.98 06120/2003 5,880.00 05/14/2003 815 .98 000 1,014.00 Centillium Communications Inc 10,413 .69 0612012003 8,834.58 05/23/2003 1,579.11 0.00 417.00 Digene Corporation 10,711 .97 W20/2003 8,262.40 05/0112003 2,449.57 0.00 359.00 FINDWHAT.COM 6,86063 0612012003 6,135.13 06118/2003 725.50 0.00 371 .00 Komag Inc 4,130.66 O6f2O/2003 3,264.80 05/13/2003 865 .86 0.00 329.00 Kornag Inc 3,663.04 06/20/2003 3,043.25 05/14/2003 61979 000 28.00 Kornag Inc 311 .75 06120/2003 259.56 05/15/2003 52.19 0.00 815.00 Telesp Celular Participacoes - ADR 3,019.78 0612012003 3,012.90 04/17/2003 688 000 5,045.00 Vilesse Semiconductor Corp . 27,385 .25 06120/2003 18,993 .63 05/09/2003 8,391 .62 000 107 .00 Vitesse Semiconductor Corp . 580.82 0612012003 441 .88 05/13/2003 138 .94 0.00 784.00 Vitesse Semiconductor Corp . 4.25571 06120f2003 3,419.60 05/14/2003 836 .11 0.00 1,182.00 Vitesse Semiconductor Corp . 6,416.13 06/20/2003 6,663.64 06/18t2003 (247 .51) 0.00 764.00 Vitesse Semiconductor Corp . 4,147.14 06/20/2003 4,544.96 06/19/2003 (397 .82) 0.00 120 .00 Westel Technologies Inc. - A 1,050.45 06/20/2003 591 .62 05/02t2OO3 458 .83 000 1,287.00 Westel Technologies Inc. - A 11,266.12 OW2012003 6,37559 05/06/2003 4,890.53 0.00 123 .00 Aquantive Inv 1,19822 W23/2003 819.98 04/23/2003 378 .24 0.00 48.00 Aquantive Inv 467 .60 06/2312003 312.00 04/2512003 155 .60 0.00 1,55200 Aquantive Inv 15,119.02 06/23/2003 10,287 .59 04/3012003 4,831 .43 0.00 1,627.00 Cell Therapeutics Inc. 14,887 .64 06/23/2003 20,809 .33 05/27/2003 (5,921 .69) 0.00 250.00 Centillium Communications Inc 2,436.06 06/23/2003 2,114.03 05/09/2003 322 .03 0.00 625.00 Centillium Communications Inc 6,09014 06123/2003 5,445.38 05/23/2003 644.76 0.00 2,955.00 E-LDan Inc. 17,275 .05 06/23/2003 16,604 .10 06tl3/2003 670.95 0.00 361 .00 Magma Design Automation 6,727.85 O6f2312003 6,901 .60 06/06f2003 (173 .75) 0.00 476.00 Magma Design Automation 8,871.08 06123/2003 8,725.08 06/13/2003 146.00 000 650.00 Accredited Home Lenders 13,88204 06/23/2003 11,797 .50 06104/2003 2,094.54 0.00 527.00 Micromuse, Inc. 4,39666 06123/2003 4,97504 OY/2812003 (578 .38) 0.00 1,797.00 Micromuse, Inc. 14,99202 0612312003 17,430 .90 05/30/2003 (2,438 .88) 0.00 2,306-00 Netegrity Inc. 11,475 .55 06123/2003 14,212 .05 05/1412003 (2,73650) 0.00 1,043.00 Netegnty Inc. 5,190.37 06f23/2003 6,393.59 06/0V2003 (1,203 .22) 0.00 1,219.00 Netegrity Inc. 6,066.22 06123/2003 7,54063 06/05/2003 (1.474.41) 0.00 1,40600 Westel Technologies Inc. - A 11,71254 06123/2003 6,931 .76 05/0212003 4,780.78 0.00 1,004-00 GlobeSpan Virata Inc 7,510.76 06/24/2003 6,728.61 05/02/2003 782 .15 0.00 925.00 Accredited Home Lenders 20,423 .59 06125/2003 16,784 .96 06/0312003 3,63863 0.00 246.00 Accredited Home Lenders 5,431.57 06/25/2003 4,464.90 06104/2003 966.67 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 36 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

51700 Aquanfivelnv 5,298.32 0012612003 3,360.50 0412512003 1,937.82 0.00 2,11900 E-Loan Inc. 11,855 .07 06/2612003 11,862.07 06tl2/2003 (7.00) 0.00 331 .00 E-Loan Inc. 1,851 .83 06/26/2003 1,859.88 06/13/2003 (8 05) 0.00 116 .00 Accredited Home Lenders 2,333.81 06/26/2003 2,104.92 06103/2003 228 .89 0.00 347.00 Accredited Home Lenders 6,981.31 0612612003 6,24600 06/05/2003 735 .31 000 1,725.00 Harris Interactive, Inc. 10,967 .88 06127/2003 11,754.32 0611612003 (786.44) 0.00 303.00 Magma Design Automation 5,269.83 06127/2003 5,045.83 05/07/2003 22400 0.00 318.00 Magma Design Automation 5,530.71 06(27/2003 5,377.38 05/13/2003 153 .33 0.00 390.00 Magma Design Automation 6,782.95 06/27/2003 6,805.50 05/15/2003 (22.55) 0.00 491 .00 Magma Design Automation 8,539.56 06127/2003 8,77908 05/29/2003 (239.52) 0.00 87.00 Magma Design Automation 1,513 12 06/27/2003 1,594.71 06113/2003 (81.59) 0.00 703.00 Aquantive Inv 7,35036 06130/2003 4,56950 04/25/2003 2,78086 0.00 1,427.00 E-Loan Inc. 8,057.88 06/30/2003 6,947.73 05/28/2003 1,110.15 000 14.00 E-Loan Inc. 79.05 06/30/2003 78.37 06/12/2003 0.68 000 61900 Dot Hill Systems Corp 8,705.51 06/30/2003 7,063.53 06tl6/2003 1,641.98 000 173 .00 K V H Industries Inc 4,278.09 06/30/2003 3,421 .77 0512212003 856.32 0.00 332 .00 K V H Industries Inc 8,209.97 06/30/2003 7,596.16 06/11/2003 61381 0.00 419.00 Accredited Home Lenders 8,086.31 06/30/2003 7,54200 06105/2003 54431 0.00 531 .00 Micromuse, Inc. 4,217.69 0613012003 5,012.80 05/2812003 (795 .11) 0.00 1 .00 Centillium Communications Inc 9.56 07/01/2003 8.09 05/05/2003 1 .47 0.00 296 .00 Centitlium Communications Inc 2,829.62 07/01/2003 2,503.01 05/09/2003 32661 0.00 1,303.00 GlobeSpan Virata Inc 10,274.58 07/01/2003 8,732.45 05/O7J2003 1,54213 0.00 929.00 Hams Interactive, Inc. 5,711.58 07/01/2003 6,33030 0611612003 (618 .72) 0.00 409.00 Magma Design Automation 6,829.98 07/0112003 6,780.81 05/O6f2OO3 49.17 0.00 101 .00 Magma Design Automation 1,686.62 07/01/2003 1,681.94 05/07/2003 4.68 0.00 289 .00 Magma Design Automation 4,82607 07/01/2003 4,79653 05/08/2003 29 .54 0.00 173 .00 NII Holdings Inc - Cl B 6,506.90 07/01/2003 3,14860 01/15/2003 3,358.30 000 315 .00 N11 Holdings Inc - Cl B 11,847.82 07/0112003 5,811.66 0211212003 6,036.16 0.00 159 .00 Proassurancc Corp 4,39245 07/01/2003 3,591.81 03/06/2003 80064 0.00 455.00 Proassurance Corp 12,569 .60 07/01/2003 10,414.95 03/07/2003 2,15465 0.00 189 .00 Proassurance Corp 5,221 .22 07/01/2003 4,491.17 04/04/2003 730.05 0.00 135 .00 Proassurance Corp 3,729.44 07/01/2003 4,037.47 06/1&2003 (308 .03) 000 270.00 Proassurance Corp 7,458.89 07/01/2003 8,194.93 06117/2003 (736.04) 0.00 558.00 Synovis Life Technologies Inc 10,413 .74 07/01/2003 8,125.09 05/2112003 2,288.65 0.00 1,07900 Tollgrade Communications 19,686 .83 07/01/2003 22,259.77 0610512003 (2,572.94) 000 1,083.00 AT Road Inc 12,206 .35 07/02/2003 9,61704 05/30/2003 2,58931 0.00 739 .00 AT Road Inc 8,329.17 07/02/2003 7,47742 06/1612003 851 .75 0.00 884.00 AT Road Inc 9,963.45 07/02/2003 9,096.36 06117/2003 867 .09 000 540.00 AT Road Inc 6,08627 07/02/2003 5,999.24 06118/2003 87 .03 000 145.00 AT Road Inc 1,634.28 0710212003 1,666.62 06/19/2003 (3234) 0.00 306.00 GlobeSpan Virata Inc 2,490.72 07/02/2003 2,050.75 05/0212003 439.97 0.00 238 .00 Glob cSpan Virata Inc 1,937.23 07/02120003 1,569.51 05122/2(X)3 367 .72 0.00

0 0 0 0 0 0 0 0 0 0 0 0

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Sale Purchase Realized Unamortized Bond Ouantit Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount) 796.00 Hams Interactive, Inc. 4,995.14 07/02/2003 5,424.02 06/16/2003 (428.88) 0.00 168.00 Magma Design Automation 3,007.05 07/0212003 2,785.27 05/0612003 221 .78 0.00 95 2.00 Micromuse, Inc 7,691.39 07/0212003 6,892.19 04124/2003 799.20 0.00 485.00 Micromuse. Inc. 3,91841 07/02/2003 3,380.84 04/25/2003 537.57 0.00 719.00 Micromuse, Inc. 5,80894 07/0212003 5,097.71 04/2812003 711 .23 0.00 531-00 Micromuse, Inc 4,29005 07/02/2003 4,437.30 05/07/2003 (147.25) 0.00 776.00 Micromuse, Inc. 6,269.45 07/02/2003 6,572.72 05/20/2003 (30327) 000 518.00 Micromuse, Inc. 4,185.02 07/02/2003 4,716.65 05/27/2003 (531.63) 0.00 926.00 Micromuse, Inc. 7,481.33 07/02/2003 8,741.72 05/28/2003 (1,260.39) 0.00 1,719.00 Daugherty Resources Inc 6.899.76 07/0212003 8,782.23 06126/2003 (1,882.47) 0.00 595-00 Osteotech Inc. 7,80639 07/02/2003 8,203.86 05/2812003 (397.47) 0.00 339.00 Proassurance Corp 9,591 .89 07/02/2003 7,552.17 02/14/2003 2,039.72 000 34.00 Proassurance Corp 962.02 07/02/2003 758.48 02/20/2003 203.54 0.00 41.00 Proassurance Corp 1,160.08 07/0212003 924.46 02121/2003 235.62 0.00 39.00 Proassurance Corp 1,103.49 07/02/2003 878.80 02/24/2003 224.69 0.00 55.00 Proassurance Corp 1,556.21 07/02/2003 1,241 .90 02/25/2003 314.31 0.00 19000 Proassurance Corp 5,375.99 07/02/2003 4,292.10 03/0612003 1,083.89 0.00 259.00 Staar Surgical Co. 3,58245 07/0212003 3,087.05 05/15/2003 49540 000 921.00 Staar Surgical Co. 12,739 .13 07/02/2003 11,125 .68 05/21/2003 1,613.45 000 1,324.00 Staar Surgical Co. 18,313 .37 07/02/2003 14,842 .83 06113/2003 3,470.54 0.00 436-00 Staar Surgical Co. 6,030.69 07/0212003 4,961 .68 06118/2003 1,069.01 0.00 484.00 Synovis life Technologies Inc 9,471 .43 07/02/2003 4,982.25 03/11/2003 4,489.18 0.00 28.00 Synovis life Technologies Inc 547.93 07/02/2003 407.71 05/2112003 140.22 0.00 255-00 Angiotech Pharmaceuticals 10,913 .48 07/03/2003 7,986-96 06104/2003 2,92652 0.00 50.00 Angiotech Pharmaceuticals 2,139.90 07/0312003 2,104.94 07/0212003 34.96 0.00 984-00 Centillium Communications Inc 9,869.05 07/03/2003 7,335.13 05/02/2003 2,533.92 0.00 425.00 Centillium Communications Inc 4.26255 07/03/2003 3,440.08 05/05/2003 822.47 0.00 189.00 K V H Industries Inc 4,290.09 07/03/2003 3,535.43 05/21/2003 754.66 0.00 115.00 K V H Industries Inc 2,610.38 07/0312003 2,274.59 05/2212003 335.79 0.00 863.00 Daugherty Resources Inc 3,461.54 07/03/2003 3,591.87 06/1012003 (130.33) 0.00 576.00 Daugherty Resources Inc 2,310.37 07/03/2003 2,635.32 06/11/2003 (324.95) 0.00 440.00 Daugherty Resources Inc 1.764.87 07/03/2003 2,247.92 06126/2003 (483.05) 0.00 500-00 Osteotech Inc. 6,626.43 07/03/2003 6,894.00 05/28/2003 (267.57) 0.00 481 .00 Osteotech Inc. 6,374.63 07/0312003 6,517.98 06113/2003 (143.35) 0.00 290.00 Proassurance Corp 8,128.46 07/03/2003 6,460.56 02114/2003 1,667.90 0.00 25800 K V H Industries Inc 5,927.50 07/07/2003 4,826.15 05/21/2003 1,101 .35 0.00 247.00 Martek Biosciences Corp 11,33677 07/07/2003 8,800.61 05/15/2003 2,536.16 0.00 503.00 Martek Biosciences; Corp 23,08661 07/0712003 21,201 .45 06119/2003 1,885.16 0.00 16.00 NII Holdings Inc - Cl B 61917 07/07/2003 291 .20 01/15/2003 327.97 0.00 19.00 Netease.corn Inc. ADR 723.87 07/07/2003 216.61 12/31/2002 507.26 0.00 43.00 Netcase.corn Inc. ADR 1,638.22 07/07/2003 1,571 .62 06/1712003 66.60 0.00 144.00 Netease.corn Inc. ADR 5,486.14 07/07/2003 4,844.29 06/26/2003 641 .85 0.00 Dfiehaus Capital Management Friday January 23, 2004 16:50:14 Page 38 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056404 -- RHD FOUNDATION -EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Less) Premium Discount)

188 .00 Netease .corn Inc. ADR 7,162.46 07/07/2003 6,83205 0613012003 33041 0.00 186-00 Proassurancc: Corp 5,271 .94 07/0712003 4,143.67 02/14/2003 1,128.27 0.00 29-00 Proassurance Corp 82197 07/07/2003 64084 02/18/2003 181 .13 0.00 35.00 Proassurance Corp 992.03 07107/2003 775 .77 02/19/2003 216.26 0.00 77.00 Praecis Pharmaceuticals Inc 374.39 07/07/2003 415.56 05/14/2003 (41 .17) 000 912.00 Praecis Pharmaceuticals Inc 4,434.30 07/07/2003 4,832.15 05/15/2003 (397 .85) 000 178 .00 Praecis Pharmaceuticals Inc 865.47 07/07/2003 926.01 05/29/2003 (60 54) 0.00 81 .00 Praccis Pharmaceuticals Inc 393.84 07/0712003 446.72 06tO2/2003 (52 .88) 0.00 46000 Sharper Image Corp. 12,42342 07/0712003 12,954.01 06/17/2003 (530 .59) 000 145 .00 Sharper Image Corp. 3,91608 07/07/2003 4,004.90 06r2612003 (8882) 000 143 .00 Staar Surgical Co. 1,997.49 07107/2003 1,603.12 06113/2003 394.37 0.00 41 .00 Staar Surgical Co. 572.71 07/07/2003 457 .56 06/2012003 115.15 0.00 151-00 Synovis We Technologies Inc 3,163.36 07/07/2003 1,54020 0212612003 1,623.16 0.00 302-00 Synovis Ufe Technologies Inc 6,326.72 07/07/2003 2,970.77 02127/2003 3,355.95 0.00 64-00 Synovis We Technologies Inc 1,340.76 0710712003 658 .81 03/11/2003 681 .95 000 657.00 TiVo Inc. 8,438.11 07/07/2003 8,966.34 07/03/2003 (52823) 0.00 514 .00 Banco Frances Rio Plata Adr 2,844.70 07/0812003 3,695.66 06120/2003 (850 .96) 0.00 586-00 Banco Frances Rio Plata Adr 3,243.18 07/08/2003 4,055.12 06/26/2003 (811 .94) 000 310-00 Banco Frances Rio Plata Adr 1,715.67 07/08/2003 1,953.00 06130/2003 (237 .33) 0.00 1,138.00 Digene Corporation 30,667.66 07/08/2003 13,822.26 02104/2003 16,845.40 0.00 139-00 Digene Corporation 3,745.87 07/08/2003 2,754.13 05/01/2003 991 .74 0.00 22.00 IRSA - Sp. ADR 186.90 07/0V2003 211 .18 0612512003 (24 28) 0.00 316-00 NII Holdings Inc - CI B 12,370 .30 07/08/2003 5,751.20 01/15/2003 6,619.10 0.00 877 .00 Osteotech Inc. 11,931 .64 07/08/2003 11,878.79 05/27/2003 52.85 0.00 182 .00 Osteotech Inc. 2,476.12 07/0812003 2,466.26 06/13/2003 9.86 0.00 1,23400 Praecis Pharmaceuticals Inc 5,909.14 07/08/2003 6,417.17 05/13/2003 (508 .03) 0.00 933.00 Praecis Pharmaceuticals Inc 4,467.77 07/08/2003 4,853.75 05/29/2003 (385 .98) 0.00 177 .00 Staar Surgical Co. 2,512.63 07/0812003 1,966.47 06/19/2003 546.16 0.00 151 .00 Staar Surgical Co. 2,143.54 07/08/2003 1,685.16 06120/2003 458.38 0.00 367-00 TiVo Inc. 4,57065 07/0812003 5,00860 07/03/2003 (437 .95) 0.00 581-00 Banco Frances Rio Plata Adr 3,075.87 07/09/2003 2,935.21 02125/2003 14066 0.00 471-00 Banco Frances Rio Plata Adr 2,493.52 07/09/2003 2,868.39 05/05/2003 (37487) 0.00 14500 Banco Frances Rio Plata Adr 767.64 07/09/2003 858 .56 06109/2003 (90 .92) 0.00 444.00 Banco Frances Rio Plata Adr 2,350.58 07/0912003 2,721.10 06/10/2003 (370 .52) 0.00 133 .00 Banco Frances Rio Plata Adr 704.12 07/09/2003 837 .90 06/30/2003 (133 .78) 0.00 94.00 Grupo Financiero Galicia-B ADR 370.50 07109/2003 275 .22 03/2612003 95.28 0.00 322-00 Harvest Natural Resources 2.17604 07/09/2003 2,171.79 06t 1 1/2003 425 0.00 71900 Harvest Natural Resources 4.858 .91 07/0912003 5,091.53 0611212003 (232 .62) 0.00 86400 Harvest Natural Resources 5,838.80 07/09/2003 6,004.80 07/07/2003 (16600) 0.00 194 .00 IRSA - Sp. ADR 1,642.79 07/09/2003 1,862.21 0612512003 (219 .42) 000 863-00 Newtek Business Services Inc 4,521 .29 07/09/2003 5,247.90 06106/2003 (726 .61) 0.00 137 .00 Newtek Business Serviceb Inc 717.75 07/09r.003 816.68 06/ 1 MOW (98,93) 0.00

0 0 0 0 0 0 0 0 0

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533.00 Newtek Business Services Inc 2,792.41 07/09/2003 3,26702 06120/2003 (474.61) 0.00 619.00 Newtek Business Services Inc 3,242.96 07109/2003 3,76655 06130/2003 (523.59) 0.00 245.00 Staar Surgical Co 3,448.92 07/09/2003 2,721 .95 0611912003 726.97 0.00 1,289.00 American Home Mtg Holdings 27,139 .00 07/1012003 22,39638 06105/2003 4,74262 0.00 628.00 Banco Frances Rio Plata Adr 3,33092 07/1012003 3,172.66 02/25/2003 158 .26 0.00 464.00 Banco Frances Rio Plata Adr 2,461 .06 07/10/2003 2,129.76 03/19/2003 331 .30 000 325.00 Banco Frances Rio Plata Adr 1,723.81 07/10/2003 1,582.82 03121/2003 140.99 0.00 387.00 Banco Frances Rio Plata Adr 2,052.65 07/10/2003 1,92954 03/25/2003 123 .11 0.00 389.00 Centillium Communications Inc 4,203.18 07/1012003 2,899.76 05/0212003 1,303.42 0.00 330.00 Centillium Communications Inc 3,56568 07/10/2003 3,993.16 07/08/2003 (427.48) 0.00 2,73400 Grupo Financiero Gaficia-B ADR 10,478 .25 07/1012003 8,00468 03126/2003 2,473.57 000 96.00 Harvest Natural Resources 627.82 07/10/2003 647.49 06111/2003 (19.67) O.OD 424.00 IRSA - Sp. ADR 3,54019 07/10/2003 4,069.98 06/25/2003 (529.79) 0.00 635.00 Accredited Home Lenders 13,747 .10 07/10/2003 11,195 .05 05/28/2003 2,55205 0.00 318.00 Accredited Home Lenders 6,884.37 07/10/2003 5,72400 06105/2003 1,160.37 0.00 2,162.00 Netegrity Inc. 14,538 .76 07/10/2003 13,ODO .34 05/15/2003 1,538.42 0.00 888.00 Netegrity Inc. 5,971 .51 07/10(2003 5,443.44 06/04/2003 528 .07 0.00 903.00 Newtek Business Services Inc 4,630.27 07/10/2003 5,326.36 06109/2003 (696.09) 000 583.00 Newtek Business Services Inc 2,989.42 07/1012003 3,475.38 06/17/2003 (485 .96) 0.00 186-00 Staar Surgical Co. 2,419.53 07/1012003 1,942.30 05/05/2003 477 .23 0.00 43.00 Staar Surgical Co. 559.35 07/10/2003 477.73 06tl9/2003 81 .62 0.00 523 .00 IRSA - Sp. ADR 4,148.86 07/11/2003 5,02028 06/25/2003 (871 .42) 0.00 686.00 K V H Industries Inc 15,683 .90 07/11/2003 12,249 .01 05/16/2003 3,434.89 0.00 58.00 K V H Industries Inc 1,32604 07/11/2003 1,084.95 05/21/2003 241 .09 0.00 1.00 Accredited Home Lenders 21 .80 07/11/2003 17 .63 05/28/2003 4.17 000 271 .00 Accredited Home Lenders 5,907.52 07/11/2003 4,607.00 05/29/2003 1,300.52 0.00 262.00 Martek Biosciences Corp 12,140 .50 07/11/2003 8,681 .82 04/28/2003 3,458.68 0.00 38.00 Martek Biosciences Corp 1,760.84 07/11/2003 1,353.94 05/15/2003 40690 0.00 309.00 Vicuron Pharmaceuticals Inc 4,48647 07/11/2003 4,641 .18 06112/2003 (154.71) 0.00 5kKOO Vicuron Pharmaceuticals Inc 7,317.73 07/11/2003 7,711 .20 0611612003 (393.47) 0.00 421 .00 Vicuron Pharmaceuticals Inc 6,112.63 07/11/2003 6,441 .30 07/07/2003 (328.67) 000 199.00 NII Holdings Inc - C1 B 7,936.16 07/1112003 3,621 .80 01/15/2003 4,314.36 0.00 1,112.00 Newtek Business Services Inc 5,605.54 07/11/2003 6,559.15 06/09/2003 (953.61) 0.00 707.00 Ciphergen Biosysterns; Inc. 6,660.54 07/14/2003 6,88618 06105/2003 (225.64) 0.00 1,082.00 Ciphergen Biosystems Inc. 10,193.36 07/14/2003 10,93383 07/11/2003 (740.47) 0.00 4.00 IRSA - Sp. ADR 31.61 07/14/2003 29 .60 03/0612003 2.01 0.00 200.00 IRSA - Sp. ADR 1,58052 07/14/2003 1,481 .48 03/14/2003 99.04 0.00 319.00 IRSA - Sp. ADR 2,520.94 07/1412003 3,062.08 06125/2003 (541 .14) 0.00 393 .00 Martek Biosciences Corp 18,618.76 07/14/2003 11,457 .80 04/02/2003 7.160.96 0.00 147.00 Martek Biosciences; Corp 6,964.27 07/14/2003 4,871 .09 04/2812003 2,093.18 0.00 557 .00 Vicuron Pharmaceuticals Inc 8.237.64 07/1412003 8,366.14 0611212003 (128.50) 0.00 1,185.00 Navigant Consulting Co 14,859.67 0711412003 14,556 .30 07/02/2003 303 .37 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 40 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056404 -- RHD FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

233.00 Navigant Consulting Co 2,921.77 07/14/2003 2,877.55 07/03/2003 44.22 0.00 543.00 Navigant Consulting Co 6,809.11 07/14/2003 6,605.49 07/07/2003 203 .62 000 273 .00 Netease.com Inc. ADR 10,977 .52 07/1412003 3,112.39 12131/2002 7,865.13 0.00 900.00 Select Comfort Corp. 19,424 .68 07/14/2003 18,114 .12 07/03/2003 1,310.56 0.00 691 .00 Sonus Network 5,018.15 07/14/2003 2,269.72 05/02/2003 2,748.43 0.00 2.152.00 Sonus Network 15,628 .15 07/14/2003 10,779 .09 06119/2003 4,849.06 000 473.00 Sonus Network 3,435.00 07/14/2003 2,48036 06127/2003 95464 0.00 104 .00 Staar Surgical Co. 1,383.13 07/14/2003 1,08602 05/05/2003 297 .11 0.00 6,851 .00 24n Real Media Inc. 15,185 .03 07/1412003 9,116.70 06117/2003 6,06833 0.00 4,976.00 24n Real Media Inc. 11,029 .15 07/1412003 6,348.48 07/07/2003 4.68067 0.00 783 .00 24n Real Media Inc. 1,735.50 07/1412003 1,226.67 07/09/2003 508.83 0.00 103.00 American Home Mtg Holdings 2,244.96 07/15/2003 1,789.62 06105/2003 455.34 0.00 198.00 American Home Mtg Holdings 4,315.56 07/15/2003 3,364.97 06109/2003 95059 0.00 523 .00 IRSA - Sp. ADR 4,064.03 07/15/2003 3,87020 03/0612003 19383 0.00 29400 Navigant Consulting Co 3,585.22 07/15/2003 3,57645 07/07/2003 877 0.00 602.00 Ciphergen Biosystems Inc. 5,407.81 07/1612003 5,863.48 06(05/2003 (455 .67) 0.00 1,179.00 Ciphergen Biosystems Inc. 10,591 .04 07/16/2003 11,153 .34 0611212003 (562 .30) 0.00 760.00 Ciphergen Biosystems Inc. 6,827.13 07/16/2003 7,14400 06/13/2003 (316 .87) 0.00 847 .00 E-Loan Inc. 5,265.72 07/1612003 3,937.81 05/23/2003 1,327.91 0.00 432.00 E-Loan Inc. 2,685.70 07/1612003 2,103.31 05/28/2003 582.39 0.00 59.00 IRSA - Sp. ADR 451 .53 07/1612003 428.78 02/26/2003 22.75 0.00 327 .00 IRSA - Sp. ADR 2,502.54 07/16/2003 2,382.49 02/27/2003 12005 0.00 364.00- IRSA - Sp. ADR 2,785.71 07/1612003 2,693.60 03/06/2003 9211 0.00 19.00 IRSA - Sp. ADR 145.41 07/16/2003 140 .33 03/17/2003 5.08 0.00 222.00 Accredited Home Lenders 4,441 .41 07/1612003 3,187.50 05/22/2003 1,253.91 000 423 .00 Accredited Home Lcriders 8,462.69 07/16/2003 7,191 .00 05/29/2003 1,271 .69 0.00 278 .00 Sohu corn Inc. 11,031 .18 07/1612003 1,810.80 12123/2002 9,220.38 0.00 158.00 Sohu com Inc. 6,269.52 07/16/2003 5,393.39 06/3012003 876 .13 0.00 393 .00 Aquantive Inv 3,539.23 07/1712003 2,554.50 04125/2003 984 .73 0.00 529.00 IRSA - Sp. ADR 4,029.57 07/17/2003 3,844.51 02/26f2003 185 .06 0.00 968 .00 IRSA - Sp. ADR 7,373.58 07/17/2003 6,913.07 03/1112003 460.51 000 655 .00 Netease corn Inc. ADR 23,396.61 07/17/2003 7,467.46 12/31/2002 15,929 .15 0.00 594.00 TiVo Inc. 6,323.60 07/17/2003 6,198.87 06120/2003 124.73 000 325 .00 TiVo Inc. 3,459.88 07/17/2003 4,435.41 07/03/2003 (975.53) 000 32! 00 American Home Mtg Holdings 6,198.21 07118/2003 5,42850 06104/2003 769 .71 0.00 582.00 Amencan Home Mtg Holdings 11,237 .89 07/1&'2003 9,890.97 06109/2003 1,346.92 0.00 216.00 AT Road Inc 2,35083 07/18/2003 1,875.96 05/28/2003 474.87 0.00 1,43400 AT Road Inc 15,606.91 07/18/2003 12,471 .50 05/29/2003 3,135.41 0.00 7600 AT Road Inc 827 .14 07/1812003 67488 05/30/2003 152.26 0.00 628.00 AT Road Inc 6,834.83 07/18/2003 7,636.48 07/0912003 (80165) 000 73500 GlobeSpan Virata Inc 6,471.51 07/18/2003 4,847.03 05/22/2003 1,624.48 0.00 585 .00 Glot)eSpan Virata inc 5,150.719 ~., "'. &'2003 5,348.60 07108P-00-3 (19781) 0.00 D.riehaus Capital Management Friday January 23, 2004 16:50:14 Page 41 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

120.00 Nil Holdings Inc - Cl B 4,744-57 07/1812003 2,184.00 01/15/2003 2,560.57 0.00 2,112.00 TiVo Inc 22,397 .97 07/1812003 21,465 .10 06105/2003 932.87 0.00 377.00 TiVo Inc. 3,998.12 07/18/2003 3,749.79 06/12/2003 248 .33 0.00 788.00 TiVo Inc. 8,35682 07118/2003 7,954.70 0611812003 402 .12 000 277.00 TiVo Inc. 2,937.61 07/18/2003 2,835.90 06119/2003 101 .71 0.00 212.00 TiVo Inc. 2,24828 07/18/2003 2,212.39 0612012003 35 .89 0.00 200.00 Westel Technologies Inc. - A 2,069.90 07/18/2003 894.31 04130/2003 1,17559 0.00 719.00 Westel Technologies Inc. - A 7,441 .30 07/18/2003 3,371.62 05/01/2003 4,069.68 000 1,348.00 Westel Technologies Inc. - A 13,951 .14 07/18/2003 6,645.81 05/0=003 7,305.33 0.00 482.00 AT Road Inc 5,335.48 07/21/2003 4,186.17 05f28f2003 1,14931 0.00 33600 E-Loan Inc. 1,905-68 07/2112003 1,51953 05/12/2003 386.15 0.00 90.00 E-Loan Inc. 510.45 07/21/2003 418.42 05/23f2OO3 92.03 0.00 2,07600 E-Loan Inc. 11,774 .41 07/21/2003 9,61655 05f27/2003 2,15786 000 179 .00 GlobeSpan Virata Inc 1,648.51 07/21/2003 1,180.43 05/22/2003 468.08 0.00 677.00 Magma Design Automation 11,082 .64 07/21/2003 12,860.97 07/15/2003 (1,778 .33) 0.00 349.00 Nil Holdings Inc - Cl B 13,317 .28 07121/2003 6,351.80 01/15/2003 6,965.48 000 150 .00 Nil Holdings Inc - Cl B 5.723.76 07/21/2003 2,715.00 02/19f2003 3,008.76 0.00 890.00 TiVo Inc. 9,426.08 07/21/2003 8,852.30 06112/2003 573.78 000 146 .00 TiVo Inc. 1,546.30 07121/2003 1,420.46 06113/2003 125 .84 000 425.00 AT Road Inc 4,683.27 07/22/2003 3,655.00 0512212003 1,02827 0.00 403.00 AT Road Inc 4,440.85 07/22/2003 3,500.06 05128/2003 940.79 000 240.00 CollaGenex Pharmaceuticals 2,891 .86 07122/2003 3,454.39 07/0912003 (562 .53) 0.00 511 .00 CollaGenex Pharmaceuticals 6,157.26 07f22f2003 7,580.84 07/11 f2003 (1,423 .58) 000 843.00 Ciphergen Biosystems Inc. 7,660.56 07122/2003 6,693.42 092812003 967.14 0.00 14.00 Ciphergen Biosystems Inc. 127 .22 07/2212003 109.87 05/29/2003 17.35 0.00 1,052.00 Ciphergen Biosystems Inc. 9,559.80 07/2212003 9,888.80 06/13f2OO3 (32900) 0.00 611 .00 Centillium Communications Inc 5,843.81 07f22f2003 4,554.64 05/02/2003 1,289.17 0.00 980.00 E-Loan Inc. 5,604.06 07/22/2003 4,431.97 05/12/2003 1,172.09 0.00 1,253.00 GlobeSpan Virata Inc 9,372.74 0712212003 7,875.48 04/3Of2OO3 1,497.26 0.00 846 .00 GlobeSpan Virata Inc 6,328.29 07/22/2003 5,579.03 05f22f2003 749.26 0.00 3,OD4.00 Praecis Pharmaceuticals Inc 14,269 .26 07/22/2003 17,655.75 07/15/2003 (3,386 .49) 0.00 870.00 Staar Surgical Co. 10,197 .13 07/22f2003 9,084.97 05/05/2003 1,112.16 0.00 1,250.00 TiVo Inc. 13,061-13 07/2212003 12,161 .50 06/13/2003 89963 000 399.00 Aquantive Inv 3,389.46 07/2312003 2,424.02 04/11/2003 965.44 000 719.00 Aquanfive Inv 6,107.83 07/23/2003 4,400.28 0411V2003 1,707.55 000 63.00 Aquantive Inv 535 .18 07/23f2OO3 409.50 04125/2003 125 .68 000 301 .00 Asialnfo Holdings Inc 2,323.31 07/23/2003 2,773.05 07/02/2003 (449 .74) 000 856.00 Astalnfo Holdings Inc 6,607.15 07/23/2003 9,084.73 07/08f2003 (2,477 .58) 0.00 255.00 Asialnfo Holdings Inc 1,968.25 07/23f2OO3 2,815.94 07/11/2003 (847 .69) 0.00 256.00 CollaGcnex Pharmaceuticals 3.599-19 07/23/2003 3,583.64 07/02/2003 15 .55 000 556.00 CollaGenex Pharmaceuticals 7,816.99 07/23/2003 8,002.67 07/09f2003 (185 .68) 0.00 1,152.00 Centillium Communications Inc 10,459 .66 07/2312003 8,587.47 05/02/2003 1,872.19 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 42 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- R11D FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss Premium Discount) 1,358,00 Komag Inc 18,92229 07/23/2003 10,293.64 03/2012003 8,62865 0.00 271 .00 Komag Inc 3,776.10 07/2312003 2,262.85 05/02/2003 1,51325 0.00 11400 Komag Inc 1,588.47 07/2312003 1,003.20 05/13/2003 585.27 0.00 1,202.00 Savient Pharmaceuticals Inc 5,326.16 07/23/2003 6,934.27 07/10(2003 (1,608.11) 0.00 482.00 Advanced Digital Info. Corp. 5,014.15 07/2412003 5,316.46 07/0812003 (302.31) 0.00 342.00 CollaGenex Pharmaceuticals 4,728.61 07/2412003 4,646.89 06130/2003 81 .72 000 200.00 CollaGenex Pharmaceuticals 2,76527 07/2412003 2,696.00 07/0112003 6927 000 179.00 CollaGenex Pharmaceuticals 2,474.92 07/2412003 2,505.75 07/0212003 (30.83) 0.00 1,17800 Centillium Communications Inc 11,166 .91 0712412003 8,781 .28 05/0212003 2,38563 0.00 871 .00 Digital River Inc. 17,880 .26 07124f2003 19,041.98 07/0212003 (1,161.72) 000 255.00 Digital River Inc. 5,234.75 07/24/2003 6,168.45 07/0712003 (933.70) 0.00 556.00 Digital River Inc. 11,413 .81 07/24/2003 13,845 .68 07/08/2003 (2,431.87) 0.00 496.00 Digital River Inc. 10,182 .10 07/2412003 13,000 .16 07/09/2003 (2,818.06) 0.00 43600 Digital River Inc. 8,95040 07/24/2003 10,123 .92 07/11/2003 (1,173.52) 0.00 84600 ELoan Inc. 4,872.13 07124/2003 3,825.96 05/12/2003 1,04617 0.00 372.00 E-Loan Inc. 2,142.36 0712412003 1,676.30 05/13/2003 466.06 0.00 184.00 GfobeSpan Virata Inc 1,289.83 07/24/2003 1,156.50 04/3012003 133.33 0.00 719.00 GlobeSpan Virata Inc 5,040.16 07/2412003 4,494.83 05/01/2003 545.33 0.00 675.00 Magma Design Automation 11,015 .48 07/2412003 12,822 .98 07/1512003 (1,807.50) 0.00 48.00 Accredited Home Lenders 894.03 07/24/2003 673.70 05/15/2003 220.33 0.00 717.00 Accredited Home Lenders 13,354 .56 07124/2003 10,294 .76 05/22/2003 3,059.80 0.00 573.00 Vicuron Pharmaceuticals Inc 7,91694 07/24/2003 8,606.46 06112/2003 (689.52) 0.00 576.00 Vicuron Pharmaceuticals Inc 7,958.39 07/24/2003 8,582.40 06117/2003 (62401) 000 431 .00 Vicuron Pharmaceuticals Inc 5,954.98 07/24/2003 6,369.45 07/08/2003 (414.47) 0.00 101 .00 TiVo Inc. 1,052.91 07/2412003 959.48 06/04/2003 93.43 000 245.00 TiVo Inc. 2,554.10 07/2412003 2,383.65 06/13/2003 170.45 0.00 1,447.00 Advanced Digital Info. Corp. 14,577 .40 07125/2003 14,169.46 05/16(2003 407.94 000 339.00 Advanced Digital Info. Corp. 3,415.16 (17/25/2003 3,332.37 05122/2003 82.79 0.00 1.301 .00 Advanced Digital Info. Corp. 13,106 .57 07/25/2003 14,350.03 07108/2003 (1,243.46) 0.00 1,152.00 American Home Mtg Holdings 21,771 .77 07/2512003 19,054 .08 06103/2003 2,717.69 0.00 700.00 American Home Mtg Holdings 13,229 .38 07125/2003 11,837.84 06tO4/2003 1,391.54 000 451 .00 Biosite Diagnostic Inc 20,90908 07/25/2003 25,499 .54 07/14/2003 (4,590-46) 0.00 755.00 Ciphergen Biosystems Inc. 6,473.74 07/2512003 4,967.90 05/22/2003 1,505.84 0.00 1,500.00 Ciphergen Biosystems Inc. 12,861 .74 07/2512003 11,771 .25 05/29/2003 1,090.49 0.00 1,358.00 E-Loan Inc. 6,53356 07125/2003 6,11938 05/13/2003 414.18 000 702.00 E-Loan Inc. 3,377.43 07/25/2003 3,11280 05/2212003 264.63 0.00 47.3 00 Accredited Home Lenders 8,317.45 07/25/2003 6,638.74 05/15/2003 1,678.71 0.00 202.00 Accredited Home Lenders 3,552.06 07/25/2003 2,825.58 05/16/2003 72648 0.00 506.00 Accredited Home Lenders 8,897.74 07/25/2003 6,805.70 05121/2003 2,092.04 000 383.00 Vicuron Pharmaceuticals Inc 5,258.34 07/25/2003 5,530.06 07/01/2003 (271 .72) 0.00 1 .224.00 Vicuron Pharmaceuticals Inc 16,804 .72 07/25/2003 18,088 .64 07/08/2003 (1,283.92) 0.00 3.005.00 Savient Pharmaceuticals inc 13,500 .92 -j11C5r2003 17.262.69 0-7/0912003 (3.761 .77) 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Less) Premium Discount) 1,80300 Savient Phanmceuticals Inc 8,100.55 07/25/2003 10,401.40 07/10/2003 (2,300.85) 0.00 2,010.00 TiVo Inc. 20,548.86 07/25/2003 19,09460 06104/2003 1,454.26 0.00 11300 Ultra Petroleum Corp ADR 1,30483 07/2512003 1,25045 05/1512003 54.38 0.00 866.00 Ultra Petroleum Corp ADR 9,999.94 07/25/2003 9,612.60 05/1912003 387.24 0.00 659.00 Ultra Petroleum Corp ADR 7,609.57 07/25/2003 7,500.14 05121/2003 10943 0.00 326.00 Ultra Petroleum Corp ADR 3,764.37 07/25/2003 3,862.19 05/22/2003 (97.82) 0.00 357.00 Ultra Petroleum Corp ADR 4,122.33 07/25/2003 4,24080 05/23/2003 (11847) 000 522.00 Ultra Petroleum Corp ADR 6,027.61 07/25/2003 6,414.86 06120/2003 (387.25) 0.00 610.00 Ultra Petroleum Corp ADR 7,043.76 07125/2003 7,483.66 06/23/2003 (439.90) 0.00 465.00 Ultra Petroleum Corp ADR 5,369.43 07125/2003 5,79153 0612412003 (422.10) 0.00 1,955.00 Westel Technologies Inc - A 12,466 .24 07125/2003 8,741.93 0413012003 3,724.31 0.00 604.00 Aquantive Inv 6,335.60 07128/2003 3,66944 04/11/2003 2,666.16 0.00 420.00 Ask leeves; Inc 7,521 .42 0712812003 2,893 17 02120/2003 4,628.25 0.00 163.00 Ask Jeeves Inc 2,919.03 0712&'2003 1,116.65 03/0512003 1,802.38 0.00 469.00 Ask Jeeves Inc 8,398.92 07/2&'2003 7,451.89 07/07/2003 947.03 0.00 249.00 Osteotech Inc. 3,330.99 07/28/2003 2,92398 05/13/2003 407.01 0.00 649.00 Osteotech Inc. 8,681 .98 07/28/2003 7,951.29 05/14/2003 730.69 0.00 836.00 Osteotech Inc. 11,183 .56 07/28/2003 10,948.59 05/15/2003 234.97 0.00 721 .00 Osteotech Inc. 9,645.15 07/28/2003 9,120 65 05/22/2003 524.50 0.00 420.00 Osteotech Inc. 5,618.54 07128/2003 5,688.82 05/27/2003 (70.28) 000 419.00 Osteotech Inc. 5,605.16 0712&12003 6,395.07 07/09/2003 (789.91) 0.00 47.00 Ultra Petroleum Corp ADR 537.83 07/28/2003 514.25 05/14/2003 23 58 0.00 854.00 Ultra Petroleum Corp ADR 9,772.54 07/28/2003 9,450.28 05/15/2003 322.26 0.00 1,193.00 Aquantive Inv 11,625 .24 0712912003 7,247.76 04/11/2003 4,377.48 0.00 264.00 Ciphergen Biosystems Inc. 2,13458 07/29/2003 1,337.32 03/03/2003 797.26 0.00 386.00 Ciphergen Biosystems Inc. 3,121 .01 07129/2003 1,868.32 03/04/2003 1,252.69 0.00 60.00 Ciphergen Biosystems Inc. 485.13 07/29/2003 294.74 03/05/2003 19039 0.00 167.00 Ciphergen Biosystems Inc. 1,350.28 07/29/2003 74056 03/0612003 609.72 0.00 485.00 Ciphergen Biosystems Inc. 3,921 .47 07/29/2003 2,172.80 03/07/2003 1,748.67 0.00 1,357.00 Ciphergen Biosysterns Inc. 10,972 .04 07/29/2003 8,648.70 05/09/2003 2,323.34 0.00 671 .00 Ciphergen Biosystems Inc. 5,425.38 07129/2003 4,361.50 05/14/2003 1,063.88 0.00 88.00 Ciphergen Biosystems Inc. 711 .53 07/29/2003 579.04 05/22/2003 132.49 0.00 721 .00 K V H Industfies Inc 13,849 .75 07/29/2003 12,365.15 05/14/2003 1,484.60 0.00 35.00 K V H Industries Inc 672.32 07129/2003 624.95 05/16/2003 47.37 0.00 49900 Osteotech Inc. 6,585.13 07/2912003 5,859.71 05/1312003 72542 0.00 12900 Sharper Image Corp. 3,510.63 07129/2003 3,69456 07/09/2003 (183.93) 0.00 47000 Sharper Image Corp. 12,790 .68 07/29/2003 13,880.79 07/10/2003 (1,090 .11) 0.00 57600 Sharper Image Corp. 15,675 .39 07129/2003 17,712.00 07/11/2003 (2,03661) 0.00 57300 Sharper Image Corp. 15,593 .75 07/29/2003 17,677.05 07/14/2003 (2,083 .30) 0.00 844.00 Ultra Petroleum Corp ADR 9,638.02 07/29/2003 9,216.48 05/13/2003 421 .54 0.00 1,078.00 Ultra Petroleum Corp ADR 12,31018 07/2912003 11,79483 05/1412003 515.35 0.00 678.00 Aquantive Inv 6,585.16 07/30/2003 4,119.01 04/11/2003 2,466.15 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 44 Gains and Loss Reportfrom 1110112002 to 1013112003 Accou.nk 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceed Date cost Date Gain (- Loss Premium Discount) 947.00 E-Loan Inc. 4,313.87 07/30/2003 4,150.75 05/1612003 163 .12 000 1,47400 E-Loan Inc. 6,714.52 07/30/2003 6,535.98 05/22/2003 17854 000 156-00 Flamel Technologies-sp Adr 2,962.77 07/3012003 2,68922 07/1012003 273 .55 0.00 358-00 Flamel Technologies-sp Adr 6,799.17 07/30/2003 6,80200 07/21/2003 (283) 000 605-00 Flamel Technologies-sp Adr 11,490.22 07/30/2003 11,549.09 07/22/2003 (58 .87) 0.00 423 .00 Flame[ Technologies-sp Adr 8,033.66 07/30/2003 9,462.51 07/25/2003 (1,428 .85) 000 35500 Harvest Natural Resources 2,363.30 07/30/2003 2,513 19 07/17/2003 (149 .89) 0.00 20c 00 Harvest Natural Resources 1,364.72 07/30/2003 1,457.55 07/22/2003 (92 .83) 0.00 1,04600 Harvest Natural Resources 6,963.41 07/30/2003 7,584.34 07124/2003 (620.93) 000 60200 Osteotech Inc. 7,885.82 07/30/2003 7,069.23 05/13/2003 816.59 0.00 437 .00 Sharper Image Corp . 12,174.24 07/30/2003 12,515 .68 07/09/2003 (341 .44) 0.00 1,436.00 CoflaGenex Pharmaceuticals 18,379.93 07/31/2003 18,867 .46 06126/2003 (487 .53) 0.00 281 .00 CoflaGenex Pharmaceuticals 3,596.63 07/31/2003 3,787.88 07/01/2003 (191 25) 0.00 2,076.00 E-Loan Inc. 8,77059 07/3V2003 8,727.72 05/08/2003 42.87 0.00 86.00 E-Loan Inc. 363 .33 07/31/2003 362.12 05/09/2003 1.21 0.00 264 .00 E-Loan Inc. 1,115.34 07/31/2003 1,157.13 05/16/2003 (41 .79) 0.00 121.00 Imax Corp 995 .56 07/31/2003 1,137.32 06/2612003 (141 .76) 0.00 380-00 Imax Corp 3,126.57 07/31/2003 3,356.77 07/02/2003 (230 .20) 0.00 1,481.00 Imax Corp 12,185 .38 07/31/2003 13,383 .80 07/03/2003 (1,19842) 0.00 599.00 [max Corp 4,928.46 07/31/2003 5,365.48 07/07/2003 (437 .02) 000 44.00 Mifficorn Intl Cellular S a. 1,514.98 07/31/2003 1,335.05 07/0712003 179.93 0.00 151.00 Millicom Intl Cellular S a. 5,199.12 07/31/2003 5,253.29 07/21/2003 (54 .17) 0.00 362 .00 Millicorn Intl Cellular S 2. 12,464.12 07/31/2003 12,930.50 07/22/2003 (46638) 0.00 812 .00 Osteotech Inc. 10,629 .71 07/31/2003 9,535.23 05/13/2003 1,094.48 0.00 139.00 Ask Jeeves Inc 2,288.18 08/01/2003 908.59 02/18f2OO3 1,379.59 0.00 249.00 Ask Jeeves Inc 4,098.97 08/01/2003 1,648.83 02125/2003 2,450.14 0.00 45400 Ask Jeeves Inc 7,473.62 08/0112003 3,008.07 02/27/2003 4,465.55 000 630-00 Grupo Financiero Galicia-B ADR 2,567.85 08/0112003 1,823.99 03/2512003 743 .86 000 2800 Grupo Financiero Galicia-B ADR 114.13 08/01/2003 81 .98 03126/2003 32.15 000 1,31700 Grupo Financiero, Galicia-B ADR 5,368.03 08/01/2003 5,565.49 07/17/2003 (197 .46) 0.00 246.00 Healthextras Inc 1 .844.91 08/01/2003 1,987.68 06t 1812003 (142 .77) 0.00 872.00 Healthextras Inc 6,539.69 09101/2003 7,465.19 07/09/2003 (925 .50) 000 342.00 Harvest Natural Resources 2,26006 08/01/2003 2,421-15 07/1712003 (161 .09) 000 36900 Harvest Natural Resources 2,438.49 08/01/2003 2,606.10 07/22/2003 (167 .61) 000 25000 Imax Corp 2,116.62 08/01/2003 2,20523 06/25/2003 (88 .61) 000 1,501.00 Imax Corp 12,708 .21 08/01/2003 13,259.23 07/02/2003 (551 .02) 0.00 1,646.00 Sonus Network 10,714 .95 08/01/2003 12,246.24 07/25/2003 (1,531 .29) 0.00 177.00 Staar Surgical Co. 1,860.39 08/01/2003 1,710.23 05/0212003 15016 0.00 56600 Staar Surgical Co. 5,949.06 08/01/2003 5,91046 05/05/2003 38.60 0.00 132.00 Staar Surgical Co. 1,387.41 08/0112003 1,304.33 05/0812003 83 .08 000 561-00 Staar Surgical Co. 5,896.50 08101/2003 5,608.15 05114r2003 288 .35 0.00 75200 Ultratech Stepper Inc. 17, 122.23 08/01/20011 198,050.56 07r-9P-003 (92833) 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceed Date cost Date Gain (- Less) Premium Discount)

1,062.00 Healthextras Inc 7,932.76 08/04/2003 8,58096 06t]8/2003 (648 .20) 000 896.00 Harvest Natural Pesources 5,877.84 08/04/2003 6,328.09 07/2212003 (450 .25) 0.00 96000 Imax Corp 7,814.02 08/0412003 8,468.06 06t25/2003 (65404) 0.00 439.00 Select Comfort Corp . 8,898.11 09/04/2003 7,791 .46 06tl6t2003 1,106.65 0.00 294.00 Select Comfort Corp . 5,959.10 08/04/2003 5,28368 06t 17/2003 675.42 0.00 98.00 Select Comfort Corp . 1,986.37 08/04f2003 1,972.43 07/0312003 13 .94 000 1,020.00 Select Comfort Corp . 20,67442 08104r2003 22,327.80 07t25/2003 (1,65338) 0.00 337.00 Sharper Image Corp. 8,91997 08/0412003 9,511.52 07/08/2003 (591 .55) 0.00 55.00 Sharper Image Corp. 1,455.78 08/04/2003 1,575.20 07/09/2003 (119 .42) 0.00 256.00 Sharper Image Corp. 6,776.00 08/04/2003 7,23968 08101/2003 (463 .68) 000 217.00 Staar Surgical Co. 2,395.99 09/0V2003 2,096.72 05/02/2003 29927 0.00 1,805.00 Simpletech Inc 8,156.59 081"12003 10.708.01 07/25/2003 (2,551 .42) 000 847.00 Healthextras Inc 6,242.09 08/05/2003 6,843.76 06/1912003 (601 .67) 000 656.00 Healthextras Inc 4,834.49 08/05/2003 5.241 .44 07/02/2003 (406 .95) 0.00 785 .00 ImaK Corp 6,373.89 08/05/2003 6,763.95 06119/2003 (39006) 0.00 236.00 Imax Corp 1,916.23 08/05/2003 2,081 .73 0612512003 (165 .50) 0.00 1,682.00 Looksmart Lid 6,263.35 08/05/2003 7,894.81 07/3012003 (1,631 .46) 0.00 27~ 00 Looksmart Ltd 1,035.20 08/05/2003 1,239.88 07/31/2003 (204 .68) 0.00 1,332.00 Staar Surgical Co. 15,192.07 08/05/2003 12,87018 05/0212003 2,321 .89 0.00 558.00 Staar Surgical Co. 6,364.25 08/0512003 5,323.71 05/07/2003 1,040.54 000 9.00 Dot Hill Systems Corp 132 .84 08/0612003 96.90 06112/2003 35 .94 0.00 1,152.00 Dot Hill Systems Corp 17,003 .75 08106/2003 12,681 .79 06113/2003 4,321 .96 0.00 58.00 Dot Hill Systems Corp 856.09 Oa/06/2003 661 .85 0611612003 19424 0.00 540.00 Healthextras Inc 3,975.40 08/06/2003 4,282.20 07/01/2003 (306 .80) 000 146.00 Healthextras Inc 1,074.83 0810612003 1,166.54 07/02/2003 (91 .71) 0.00 276.00 Imax Corp 2,116.82 08/0612003 2,227.21 06/1 V2003 (110.39) 0.00 566 .00 hnax Corp 4.341.01 08/06/2003 4,87694 06/19/2003 (535 .93) 0.00 143.00 J2 GLOBAL COMMUNICATIONS INC 7,188.27 09/0612003 7,725.25 07/1V2003 (536 .98) 000 54.00 J2 GLOBAL COMMUNICATIONS INC 2,714.45 08/0612003 2,934.48 07/3112003 (220.03) 0.00 164.00 J2 GLOBAL COMMUNICATIONS INC 8,243.89 08/06/2003 8,865.91 08/01/2003 (622 .02) 0.00 457 .00 Looksmart Ltd 1,681.67 08/06/2003 2,038.22 07131/2003 (35655) 000 299.00 Martek Biosciences Corp 13,101 .56 08/0612003 14,06326 07/16/2003 (961 .70) 0.00 611 .00 Alaris Medical Inc 8,984.70 08/07/2003 10,300.85 07/2412003 (1,316 .15) 0.00 552 .00 Alans Medical Inc 8,117.11 08/07/2003 9,69036 07/31/2003 (1,573 .25) 0.00 301 .00 Alaris Medical Inc 4,426.18 08/07/2003 5,24080 08/01/2003 (814 .62) 0.00 193.00 Angiotech Pharmaceuticals 8,303.69 08/07/2003 8,430.16 07/08/2003 (126 .47) 0.00 319.00 Angiotech Pharmaceuticals 13.724.74 08/0712003 14,189.12 07/14/2003 (46438) 0.00 590.00 Angiotech Pharmaceuticals 25,384.32 08/07/2003 26,361 .20 07/31/2003 (976 .88) 000 140.00 AT Road Inc 1,700.47 08/07/2003 1,204.00 05/22/2003 496.47 0.00 1,031.00 AT Road Inc 12,522 .75 08/0712003 8,753.19 05/2712003 3,769.56 0.00 451 .00 Asiainfo Holdings Inc 2,825.56 09/07/2003 4,154.97 07/02/2003 (1,329 .41) 0.00 689.00 Ask Jeeves Inc 10,410.29 09/07/2003 4,503.72 02/18/2003 5,90657 0.00 D,riehaus Capital Management Friday January 23, 2004 16:50:14 Page 46 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056404 -- RHD FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount) 183.00 Bentley Pharmaceuticals 2,726-57 08/07/2003 2,646.34 08/0612003 80.23 0.00 995.00 Bentley Pharmaceuticals 14,824 .80 08/07/2003 14,761 .62 08/07/2003 63.18 0.00 71 .00 Closure Medical Corporation 1,712.44 08107/2003 1,721.75 07/25/2003 (931) 0.00 419.00 Closure Medical Corporation 10,105 .80 08/07/2003 10,51062 07/2812003 (404.82) 0.00 409.00 Closure Medical Corporation 9,864-61 08/07/2003 10,80063 07/29/2003 (936.02) 0.00 172.00 Closure Medical Corporation 4,148.44 08/07/2003 4,703.12 07/3012003 (55468) 0.00 440.00 Closure Medical Corporation 10,612 .30 08/07/2003 12,152.14 07/31/2003 (1,539.84) 000 738.00 Columbia Laboratories Inc. 8,966-28 08/07/2003 9,595.40 07/09/2003 (629.12) 000 1,106.00 Columbia Laboratories Inc. 13,437 .26 08/07/2003 14,334.31 07/11/2003 (897.05) 0.00 76100 Columbia Laboratories Inc. 9,270.01 08107/2003 9,876.73 07/31/2003 (606.72) 0.00 349.00 Caraco Pharm Labs Inc 3,611 .98 08/07/2003 3,577.25 07/25/2003 34.73 0.00 712.00 Caraco Pharin Labs Inc 7,368.85 08107/2003 7,974.40 07/31/2003 (605.55) 0.00 1,749.00 Epic Design Tech 11,728 .24 08/07/2003 11,746.11 07/09/2003 (17.87) 000 1,224.00 Epic Design Tech 8,207.75 08/07/2003 9,792.73 07/3G(2003 (1,584.98) 0.00 2.00 Epic Design Tech 13.43 08107/2003 11.79 06/24/2003 1.64 0.00 1.134.00 Epic Design Tech 7,617.14 08/07/2003 7,121.52 07/02/2003 495.62 0.00 174.00 Epic Design Tech 1 .168.77 08/07/2003 1,071.84 07/03/2003 96.93 000 1,189.00 Epic Design Tech 7,986.58 08/07/2003 7,573.93 07/07/2003 412.65 0.00 1,633.00 Epic Design Tech 10,968 .95 08/07/2003 10,00310 07/0812003 965.85 000 9.00 Epic Design Tech 60.45 0810712003 60.44 07/09/2003 0.01 000 691.00 Epic Design Tech 4,641 .49 08/07/2003 4,617.61 07/10/2003 23.88 0.00 1,236.00 Fuel Tech N V 6,463.97 08/07/2003 7,598.56 07/2512003 (1,134 .59) 000 34t .00 - FINDWHAT.COM 6,170.10 08/07/2003 7,812.96 07/08r2003 (1,642.86) 000 85600 FINDWHAT.COM 15,488-59 08/07/2003 20,780.94 07/09/2003 (5,292.35) 0.00 1,546.00 Grupo Financiero Galicia-B ADR 6,276-61 08/07/2003 4,27054 03/21/2003 2,006-07 0.00 74.00 Grupo Financicro, Galicia-B ADR 300.43 08/07/2003 21425 0312512003 86.18 0.00 13500 Grupo Financiero Galicia-13 ADR 54809 08/07/2003 367.20 04/10/2003 18089 0.00 620.00 Dot Hill Systems Corp 8,543-20 08/07/2003 6,635.67 06tlO/2003 1,907.53 0.00 855.00 Dot Hill Systems Corp 11,781 .34 08/07/2003 9,205.53 OW1212003 2,575.81 000 819.00 Dot Hill Systems Corp 11.285.28 08107/2003 8,765.51 06/10/2003 2,519.77 000 1,591 .00 Harvest Natural Resources 9,745-20 08107/2003 10,730.82 06/11/2003 (985.62) 0.00 136.00 Harvest Natural Resources 833.03 08/07/2003 960.51 07/22/2003 (127.48) 0.00 60.00 Harvest Natural Resources 367-51 0810712003 404.68 06/11/2003 (37.17) 0.00 3,007.00 Homestore.com 7,501-67 08/07/2003 11,624.58 07/28/2003 (4,122.91) 0.00 760.00 Homestore.com 1,89600 08/07/2003 2,869.56 07/29/2003 (973.56) 0.00 572.00 ImaK Corp 4,209.49 08107/2003 4,433.92 06tl7/2003 (22443) 0.00 1,421 .00 Imax Corp 10,457 .49 08/07/2003 11,466.90 06118/2003 (1,00941) 0.00 998.00 Imax Corp 7,344-53 08107/2003 5,976.92 09/16/2002 1,367.61 000 963.00 Imax Corp 7.086-96 09/0712003 5,027.34 04/08/2003 2,059.62 0.00 1,126.00 Imax Corp 8,286-52 08/07/2003 6,372.60 04/16r2003 1,913.92 000 63.00 Imax Corp 463.63 08/07/2003 488.35 0611712003 (24.72) 0.00 308.000 j2 GLOBAL COMMUNICATIONS INC 15,125 .17 08/0712003 16.638.99 07/14/2003 (1.513.82) 0.00

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89 00 J2 GLOBAL COMMUNICATIONS INC 4,370.58 08/07/2003 4,493.39 07/22/2003 (122.81) 0.00 22600 Kyphonlnc 4,361.59 08/07/2003 3,548.20 07/09/2003 813 .39 0.00 152 .00 KyphonInc 2,933.46 08/07/2003 3,011.74 07/28/2003 (78.28) 0.00 277.00 Kyphonlnc 5,345.85 08/07/2003 5,77207 0712912003 (426.22) 0.00 39000 Kyphon Inc 7,526.64 08/07/2003 5,25330 WOY2003 2,273.34 0.00 475 .00 Kyphon Inc 9,167.07 08/07/2003 6,418.91 0611812003 2,748.16 0.00 365 .00 Kyphon Inc 7,044.17 08/07/2003 5,730.50 07/09/2003 1,313.67 0.00 737.00 LCA Vision Inc 9,49550 08/07/2003 10,069.48 07/28/2003 (573.98) 0.00 1,157.00 UCA Vision Inc 14,906.78 09107/2003 15,82753 07/29/2003 (920.75) 000 167.00 LCA Vision Inc 2,151.63 08/07/2003 2,307.94 07/30/2003 (156.31) 0.00 1,091.00 LCA Vision Inc 14,056.43 08/07/2003 14,499 .39 08/05/2003 (442.96) 0.00 1,507.00 Lionbridge Technologies Inc. 9,423.57 08/0712003 9,880.34 07/2112003 (456.77) 0.00 1,567.00 Lionbridge Technologies Inc. 9,798.76 08/07/2003 10,149.77 07/24/2003 (351 .01) 0.00 1,923.00 Lionbridge Technologies Inc. 12,02490 08/07/2003 13,537 .92 07/31/2003 (1,513 .02) 0.00 1,952.00 Looksmart Ltd 6,671.94 08/07/2003 8,262.00 07/14/2003 (1,590.06) 0.00 106.00 Looksmart Ltd 36231 08/0712003 472 .76 07/31/2003 (11045) 0.00 301 .00 Looksmart Ltd 1,029.75 08/07/2003 1,274.01 07/1412003 (244.26) 0.00 2,154.00 Looksmart Ltd 7,369.02 08/07/2003 8,308.47 07/1612003 (939.45) 0.00 578 .00 Laserscope 5,353.21 0810712003 5,819.13 07/29/2003 (465.92) 000 1,73400 Laserscope 16,059.62 08/07/2003 17,46641 07/3012003 (1,406.79) 0.00 3.00 Martek Biosciences Corp 134.77 08/07/2003 87 .11 03/2612003 47.66 0.00 116.00 Martek Biosciences Corp 5,210.94 08/07/2003 3,381.95 04/02/2003 1,828.99 0.00 136.00 Marick Biosciences Corp 6,109.38 08107/2003 6,396.66 07/1&2003 (287.28) 0.00 284 .00 Martek Biosciences Corp 12,757 .82 0810712003 7,229.33 03/14/2003 5,528.49 0 00 214 .00 Martek Biosciences Corp 9,613.28 08/0712003 6,213.53 03/26/2003 3,399.75 0.00 326 .00 Mariek Biosciences Corp 14,644.54 08/07/2003 9,404.12 04/1412003 5,240.42 0.00 93.00 Millicom Intl Cellular S.a. 2,613 15 08/0712003 2,49901 07/01/2003 114 .14 0.00 367 .00 Millicom Ind Cellular S.a. 10,312 .10 08/07/2003 10,386 .17 07/02n003 (74.07) 0.00 4".00 Millicorn Ind Cellular S.a. 12,475 .68 08/07/2003 13,471 .89 07/07/2003 (996.21) 0.00 841 .00 Mannatech Inc 4.481.65 08107/2003 6,485.12 07/21/2003 (2,003 .47) 0.00 2,128.00 Mannatech Inc 11,340.01 0810712003 17,823 .49 07122/2003 (6,483 .48) 0.00 622 .00 Navigant Consulting Co 8,302.19 08/07/2003 6,002.67 05/27/2003 2,299.52 0.00 3,098.00 Navigant Consulting Co 41,350.77 08/07/2003 31,435 .72 05/2&12003 9,915.05 0.00 890 .00 Navigant Consulting Co 11,879 .34 08/0712003 10,82667 07/07/2003 1,052.67 0 00 85.00 Network Engines Inc 387 .92 08/07/2003 427.21 07/28/2003 (39.29) 0 00 617 .00 Network Engines Inc 2,815.85 08/07/2003 3,30946 07/29/2003 (493 .61) 0.00 346.00 Network Engines Inc 1,579.07 09/07/2003 1,751 .87 07/30/2003 (172 .80) 0.00 1 .233.00 Network Engines Inc 5,627.14 08/0712003 6,333.43 08/0412003 (70629) 0.00 647.00 Network Engines Inc 2,952.77 08/0712003 3,433.63 08/05/2003 (48086) 0.00 672.00 NII Holdings Inc - Cl B 31,664 .83 08/07/2003 34,823 .44 08/01/2003 (3,158 .61) 0.00 2,152.OD Openwave Systems Inc 8,188.74 Oa/07/2003 8,898.56 08/04f2003 (709 .82) 0.00 289.00 Omnivision Technologies 12,056 .51 011107/2003 12,200-14 07/29/2003 (14363) 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 48 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056404 -- RHD FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

74.00 Penwest Pharmaceuticals Co, 1,494.51 08/07/2003 1,751 .27 07/23/2003 (256 .76) 0.00 203.00 Penwest Pharmaceuticals Co 4,099.80 08/0712003 4,913.78 07/24/2003 (813 .98) 0.00 211 .00 Penwest Pharmaceuticals Co 4,261 .37 08107/2003 5,042.90 07/28/2003 (78153) 0.00 256.00 Penwest Pharmaceuticals Co 5,170.19 08/07/2003 6,044.16 07/31/2003 (873 .97) 0.00 668.00 Performance Tech Inc 6,808.93 08/0712003 6,942.66 07/22/2003 (133 .73) 0.00 1,17300 Performance Tech Inc 11,956 .41 08/07/2003 12,99168 07/29/2003 (1,035 .27) 0.00 1,052.00 Performance Tech Inc 10,723 .05 08/07/2003 11,803 .44 08/05/2003 (1,08039) 000 59.00 Select Comfort Corp. 1,147.50 08107/2003 953 .38 05/30/2003 194 .12 0.00 222.00 Select Comfort Corp. 4,317.70 08/07/2003 3,588.70 06(03/2003 729.00 000 384.00 Select Comfort Corp. 7,468.45 08/07/2003 6,"4 .48 06/05/2003 1,023.97 0.00 579.00 Select Comfort Corp. 11,261 .02 08/07/2003 9,650.83 0610612003 1,61019 0.00 101.00 Select Comfort Corp. 1,964.36 08/0712003 1,792.57 06/1612003 171 .79 0.00 20.00 Sharper Image Corp. 521 .50 08/07/2003 545 .00 0611612003 (23 .50) 000 1300 Sharper Image Corp . 338 .98 08/0712003 359 .06 06/26(2003 (2008) 0.00 299 .00 Sharper Image Corp. 7,796.47 08/07r2OO3 8,439.01 07/0&'2003 (642 .54) 000 53800 Sonic Solutions 5,82960 08107/2003 6,609.06 07/31/2003 (77946) 0.00 480.00 Sohu com Inc. 15,100.52 08/07/2003 3,126.55 12123/2002 11,973 .97 000 591 .00 Sonus Network 3,43827 08/07/2003 1.941 .25 05/0212003 1,497.02 0.00 182.00 Sonus Network 1,058.82 08/0712003 1,354.08 07/25/2003 (295 .26) 0.00 604.00 Simpletech Inc 2,467.47 08/07/2003 3,334.64 07/23/2003 (867.17) 0.00 1.203.00 Simpletech Inc 4,914.50 08/0712003 7,136.70 07/25/2003 (2,222.20) 0.00 109.00 Terayon Communication Sy 515 .04 08/07/2003 547 .97 08/01/2003 (32.93) 000 1,503.00 Terayon Communication Sy 7,101 .90 08107/2003 7,677.54 08/05/2003 (575.64) 0.00 8,577.00 2417 Real Media Inc. 12.581.95 08107/2003 16,351 .01 07/1812003 (3,769.06) 0.00 5,94-00 24n Real Media Inc. 8,719.49 08/07/2003 12,109.50 07/29/2003 (3,39001) 0.00 9.811.00 24n Real Media Inc. 14,39215 08/07/2003 18,809.11 07131/2003 (4,416.96) 0.00 3,778.00 TLC Vision Corp 21 .607.10 09/07/2003 19,207 .94 0611312003 2,399.16 0.00 3,470.00 TLC Vision Corp 19,845 .59 08/07/2003 17,951 .27 06116/2003 1,894.32 0.00 2,088.00 TLC Vision Corp 11,941 .67 08107/2003 11,179.09 06(18/2003 762 .58 0.00 180.00 TLC Vision Corp 1,029.45 08/07/2003 1,101.29 07/28/2003 (71 .84) 0.00 751 .00 Transaction Sys Archtets 8,820.45 08/0712003 9,500.15 08/01/2003 (679.70) 0.00 716.00 Transaction Sys Archtcts 8,409.38 09107/2003 8,878.40 08/05/2003 (469.02) 0.00 344.00 Transaction Sys Archtcts 4,040.26 08/07/2003 4,224.32 08/0612003 (184.06) 0.00 510.00 Ultralife Batteries Inc 6,211.81 08/07/2003 5,171.40 06113/2003 1,040.41 0.00 1,559.00 UlLralife Batteries Inc 18,988 .66 09/07f2OO3 15,855 .03 06116/2003 3,13363 0.00 296.00 Ultralife Batteries Inc 3,605.29 08/07f2003 2,983.68 07/07/2003 621 .61 0.00 2,(UZ 00 Ultralife Batteries Inc 24,871 .61 08/07/2003 20,767.75 07/09/2003 4,10386 0.00 562.00 United Online Inc 17,401 .79 08/07/2003 17,119.03 07/2812003 282 .76 000 525 .00 United Online Inc 16,25612 08/07/2003 16,411 .45 07/31/2003 (155 .33) 0.00 862 .00 Ultra Petroleum Corp ADR 11,110.65 08/07/2003 11,359 .69 08/0712003 (249 .04) 0.00 268 .00 Ultratech Stepper Inc. 5,925.20 08/0712003 6,432.91 07/29/2003 (507.71) 000 ~b.00 Ventana Medical Sys Inc 3.117.45 08107f2003 3,356.57 07/14t2003 (239 .12) 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount) 205.00 Ventana Medical Sys Inc 7,100.87 08/0712003 7,702.98 07/2112003 (602.11) 0.00 190.00 Ventana Medical Sys Inc 6,581 .29 08/0712003 7,195.30 07/2912003 (614.01) 0.00 467.00 Ventana Medical Sys Inc 16,176 .12 08/07/2003 17,558.41 07/3012003 (1,382 .29) 0.00 1 .613.00 Verso Technologies Inc 4,884.07 08/07/2003 5,448.83 08/07/2003 (56476) 0.00 171 .00 Angiotech Pharmaceuticals 7,503.12 08/0812003 7,469.21 07/08/2003 33.91 0.00 64.00 Asialnfo Holdings Inc 385.30 08108/2003 589.62 07/0212003 (20432) 0.00 523.00 Ask Jeeves Inc 7,583.14 08/0&-2003 3,418.64 02/18/2003 4,164.50 0.00 544.00 Columbia Laboratories Inc. 6,696.32 08/08/2003 7,041.86 07/3112003 (345.54) 0.00 1,232.00 Epic Design Tech 8,034.59 08108/2003 6,100.07 06113/2003 1,934.52 000 516.00 Epic Design Tech 3,365.14 08/08/2003 3,042.70 06/2412003 322.44 0.00 162.00 Flamel Technologies-sp Adr 2,738.54 08/08/2003 2,792.65 07/10/2003 (5411) 0.00 206.00 Flamel Technologies-sp Adr 3,482.34 08/08/2003 3,511.00 07/11/2003 (28.66) 0.00 431 .00 Flamel Technologies-sp Adr 7,285.88 08/08/2003 5,727.99 06123/2003 1,557.89 000 212.00 Flamel Technologies-sp Adr 3,58378 08/08/2003 3,527.68 07/09/2003 5610 0.00 21 .00 Flamel Technologics-sp Adr 355.00 08/08/2003 357.92 07/11/2003 (292) 0.00 109.00 Fuel Tech N V 571.13 08/08/2003 670.10 07/25/2003 (98.97) 0.00 133.00 FINDWHAT.COM 2,394.39 08/08/2003 3,047.28 07/08/2003 (652.89) 0.00 266.00 FINDWHAT.COM 4,788.78 08108/2003 6,051.71 07/21/2003 (1,262.93) 0.00 371.00 Grupo Financiero Galicia-B ADR 1,569.25 09/08/2003 1,009.13 04/10/2003 560.12 0.00 456.00 Harvest Natural Resources 2,613.07 08/0&12003 3,075.58 06t 11/2003 (462.51) 0.00 722.00 Harvest Nauual Resources 4,137.36 08/08/2003 4,557.12 06/23/2003 (419.76) 0.00 231.00 Imax Corp 1,705.11 08/08/2003 1,17055 03/26/2003 534.56 0.00 505.00 Imax Corp 3,727.63 08/08/2003 2,636.35 04/08/2003 1,09128 0.00 88.00 Kyphonlnc 1,761.67 08108f2003 1,063.04 05/27/2003 698.63 0.00 114.00 Kyphonlnc 2,282.17 08/08/2003 1,535.58 06102/2003 74659 0.00 191.00 Lionbridge Technologies Inc. 1,205.15 08/0812003 1,009.28 07/11/2003 195.87 0.00 99.00 Lionbridge Technologies Inc. 624.66 08/08/2003 641 .24 07/24/2003 (16.58) 0.00 183.00 Laserscope 1,690.56 08108/2003 1,803.59 07/25/2003 (113.03) 000 427.00 Laserscope 3,944.65 08/08/2003 4,297.16 07/2812003 (352.51) 0.00 809.00 Laserscope 7,473.59 08/08/2003 8,14477 07/29/2003 (671 .18) 0.00 327.00 Mannatech Inc 1,700.52 08/08/2003 2,509.56 06/30/2003 (809.04) 0.00 370.00 Mannatech Inc 1,924.13 08/08/2003 2,782.40 07/01/2003 (858.27) 0.00 491.00 Mannatech Inc 2,553.38 08/08/2003 3,488.21 07/18/2003 (934.83) 0.00 425.00 Mannatech Inc 2,210.15 08/08/2003 3,277.26 07/21/2003 (1,067.11) 0.00 27.00 Omnivision Technologies 1,088.05 08/08/2003 1,059.48 07/14/2003 28.57 000 87.00 Omnivision Technologies 3,505.93 08/08/2003 3,672.71 07/29/2003 (166.78) 0.00 65.00 Penwest Pharmaceuticals Co 1,357.78 08/0812003 1,534.65 07/31/2003 (17687) 0.00 199.00 Select Comfort Corp. 3,670.63 08/08f2003 3,215.62 05/30/2003 45501 0.00 605.00 Sonus Network 3,455.11 08/09/2003 1,987.24 05/02/2003 1,467.87 0.00 1,212.00 Sonus Network 6,921.64 08/0&'2003 3,887.02 05/01/2003 3.034.62 0.00 314.00 Sonus Network 1,793.23 08/08/2003 1,031.39 05/0212003 761.84 0.00 2,143.00 24(7 Real Media Inc. 3,012.88 08/08/2003 2,734.08 07/07/2003 27880 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 50 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056404 -- R11D FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unamortized Bond OU2ntity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount

452.00 24n Real Media Inc. 635.48 08/08/2003 861 .68 07/1812003 (22620) 0.00 38400 Ultra Petroleum Corp ADR 5,149.19 08/08/2003 5,060.47 09/0712003 88 .72 0.00 483-00 Ultratech Stepper Inc. 10,504.75 08/08/2003 11,593.64 07/29/2003 (1,088.89) 0.00 706.00 Vixel Corp 5,294.75 08/08/2003 5,933.86 08/01/2003 (639.11) 0.00 295.00 Vixel Corp 2,212.39 08/08/2003 2,504.70 08/04/2003 (292.31) 0.00 14000 Alans Medical Inc 2,141.90 08/11/2003 2,360.26 07/24/2003 (218.36) 0.00 23.00 Alans Medical Inc 351 .88 08/11/2003 381 .63 08/04/2003 (29.75) 0.00 47.00 Angiotech Pharmaceuticals 2,107.38 09/11/2003 2,052.94 07/08/2003 54 .44 000 427.00 AT Road Inc 5,201.51 Oa/l 1/2003 3,435.43 05/2112003 1,766-08 000 201 .00 AT Road Inc 2,448.48 08/11/2003 1,706.49 05/27/2003 741 .99 000 773.00 Bentley Pharmaceuticals 11,880.45 08/11/2003 12,13146 08/1112003 (25101) 0.00 56-00 Closure Medical Corporation 1,383.69 08/11/2003 1,358.00 '07r2512003 25 .69 0.00 114 .00 Columbia Laboratories Inc. 1,400-99 08/1112003 1,475.68 07/31/2003 (7469) 0.00 58.00 FINDWHAT.COM 1,082.80 08/11/2003 1,319.55 07121/2003 (23675) 0.00 340.00 Harvest Natural Resources 1,988.90 08/1112003 2,146.01 06/23/2003 (157 11) 0.00 876-00 Imax Corp 6,049.98 08/11/2003 4,438.95 03/26/2003 1,611 .03 0.00 115 .00 LCA Vision Inc 1,494.92 08/11/2003 1,528.35 08/05/2003 (33 .43) 0.00 193 .00 Ljonbridge Technologies Inc. 1,225.49 09111/2003 1,019.85 07/11/2003 205 .64 0.00 136 .00 Laserscope 1,279.69 09111/2003 1,340.38 07/25/2003 (6069) 0.00 33-00 Millicom Intl Cellular S.a. 919-66 08/1112003 886.75 07/01/2003 3291 0.00 706-00 Mannatech Inc 3,826.34 08/11/2003 4,970.73 07/1112003 (1,144 .39) 0.00 174 .00 Mannatech Inc 943 .03 08/11/2003 1,236.15 07/18/2003 (293 .12) 0.00 168 .00 Navigant Consulting Co 2,215.79 08/1112003 1,621.30 05/27/2003 594.49 000 25-00 N11 Holdings Inc - Cl B 1,245.69 08/11/2003 1,295.52 08/01/2003 (49 .83) 0.00 10600 Performance Tech Inc 1,098.10 08/11/2003 1,101.68 07/22/2003 (3.58) 0.00 56-00 Select Comfort Corp. 1,048.83 08/11/2003 904.90 05/3012003 143-93 0.00 299.00 Sonic Solutions 3,611.58 Oa/l 1/2003 3,660.78 07/3112003 (49 .20) 000 1,230-00 Terayon Communication Sy 5,817.62 Oa/l 1/2003 6,183.54 08/01/2003 (365 .92) 000 984-00 2417 Real Media Inc. 1,562.35 08/11/2003 1,255.41 07/07/2003 306.94 0.00 2,004-00 2417 Real Media Inc. 3,210.87 08/11/2003 2,454.52 06105/2003 756.35 0.00 1,693-00 2417 Real Media Inc. 2,712.57 09/11/2003 2.159.96 07/07/2003 552 .61 0.00 347.00 TLC Vision Corp 1,977.80 08/11/2003 1,764.20 06113/2003 213 .60 000 247.00 Transaction Sys Archtcts 2,693.73 08/11/2003 3,033.16 08/0612003 (339 .43) 0.00 12100 Transaction Sys Archtcts 1.319.60 09/11/2003 1.479.83 08/08/2003 (160 .23) 0.00 16100 Ultralife Batteries Inc 2,10095 08/1112003 1,622.88 07/07/2003 478 .07 000 40-00 United Online Inc 1,232.74 08/1112003 1,21844 07/28/2003 14.30 0.00 423.00 Ultra Petroleum Corp ADR 5,96401 08/1112003 5,296.30 09/0612003 667 .71 0.00 13500 Ultra Petroleum Corp ADR 1,903.41 08/11/2003 1,77907 08/07/2003 12434 000 3600 Ventana Medical Sys Inc 1,24122 08/11/2003 1,342.63 07/14/2003 (101 .41) 0.00 64-100 Verso Technologies Inc 1,94590 08/11/2003 2,168.72 08/07/2003 (222 .82) 0.00 699-00 Verso Technologies Inc 2,118.66 08/11/2003 2,278 18 09/08/2003 (159 .52) 000 393.00 Maris Medical Inc 5,979.64 011112/20003 6,49106- 07/3(V2003 (511 .42) 0.00

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287 .00 Alans Medical Inc 4,366.81 08/12/2003 4,76208 08/0412003 (395.27) 0.00 5.00 Angiotech Pharmaceuticals 229.25 08/1212003 218 .40 07/08/2003 10.85 0.00 215 .00 Angiotech Pharmaceuticals 9,857.65 08/1212003 9,352.50 07/09/2003 505 .15 0.00 926.00 AsiaInfo Holdings Inc 6,027.97 08/12/2003 8,531 .05 07/0212003 (2,503.08) 0.00 416.00 Ben dey Pharmaceuticals 6,560-97 08/12/2003 6,528.70 08/11/2003 3227 0.00 7S4.00 Epic Design Tech 5,519.09 08112/2003 5,896.78 08/1212003 (377 .69) 0.00 1,139.00 Grupo Financiero Galicia-B ADR 4,668.12 08/1212003 3,09810 04/1012003 1,570.02 0.00 27.00 J2 GLOBAL COMMUNICATIONS INC 1,340.07 08/12/2003 1,363 16 07/22/2003 (23.09) 0.00 200.00 Navigant Consulting Co 2,704.69 08/12/2003 1,825.80 0512212003 878 .89 0.00 512 .00 Navigant Consulting Co 6,92401 08/12J2003 4,941 11 05/27/2003 1,982.90 0.00 503 .00 Sharper Image Corp . 12,756 .73 09/12/2003 13,573 .05 06f 13/2003 (816 .32) 000 95.00 Sharper Image Corp . 2,409.32 08/12/2003 2,588.75 0611612003 (179 .43) 0.00 90.00 Sonic Solutions 1,076.21 08/12/2003 1,105.61 07/3112003 (29 .40) 000 214 .00 Sohu com Inc. 6,410.27 08/1212003 1,39392 12/23/2002 5,01635 0.00 490.00 Simpletech Inc 1,974.60 08/1212003 2,705.26 07/23/2003 (73066) 0.00 248.00 Terayon Communication Sy 1,137.27 08/12/2003 1,246.76 08/01/2003 (109 .49) 0.00 773.00 24/7 Real Media Inc. 1.253.75 08/1212003 946 .78 06105/2003 30697 0.00 2,780.00 2417 Real Media Inc. 4,508.95 08112/2003 3,301.01 06/13/2003 1,207.94 0.00 248.00 Alaris Medical Inc 3,681 .36 08/13/2003 3,943.82 07/16/2003 (262 .46) 0.00 283.00 Alans Medical Inc 4,200.90 08/13/2003 4,67423 07/30/2003 (473 .33) 0.00 73.00 Ask Jeeves Inc 1.186.19 08/13/2003 477 .17 02/1812003 709.02 0.00 297.00 Closure Medical Corporation 7,571.84 08/1312003 7,022.45 07/22/2003 549.39 0.00 235.00 Closure Medical Corporation 5,991.18 08/13/2003 5,698.75 07125/2003 292.43 0.00 229.00 Epic Design Tech 1,634.98 08/13/2003 1,722.40 08/12/2003 (87 .42) 0.00 501 .00 Navigant Consulting Co, 6.763.18 08/13/2003 4,57363 05/2212003 2,189.55 0.00 1,788.00 Simpletech Inc 6,727.63 08/13/2003 9,871.43 07123/2003 (3,143 .80) 0.00 500.00 Alans Medical Inc 7,417.65 08/14/2003 7,951.25 07/1612003 (53360) 0.00 1,08000 Harvest Natural Resources 5,909.59 08/14/2003 6,798.82 06/10/2003 (889 .23) 0.00 449.00 Harvest Natural Resources 2,456.86 08/14/2003 2,83400 06/23/2003 (377 .14) 0.00 1,684.00 Homestore.com 4,33438 09/14/2003 6,358.35 07/29/2003 (2,023 .97) 0.00 120.00 LCA Vision Inc 1.753 .12 09/14/2003 1,594.80 08/0512003 158 .32 0.00 832 .00 LCA Vision Inc 12,154 .94 08/1412003 12,312.10 08112/2003 (157 .16) 0.00 1,087.00 Mannatech Inc 6,785.82 Oa/1412003 7,653.24 07/11/2003 (867 .42) 0.00 465.00 Mannatech Inc 2.902.86 08/1412003 3,21003 07/16/2003 (307 .17) 0.00 350.00 Mannatech Inc 2,184.95 08/14/2003 2,387.00 07/17/2003 (202 .05) 0.00 19400 Sohu com Inc. 5,937.71 08/14/2003 1,26365 12123/2002 4,674.06 0.00 943.00 Sonus Network 6,023.59 08/14/2003 3,02431 05/01/2003 2,999.28 0.00 10.00 Simpletech Inc 38.09 08/14/2003 55 .21 07/23/2003 (17 .12) 0.00 1,333.00 TLC Vision Corp 7.565 .38 0811412003 6,777.18 0611Y2003 788.20 0.00 2,106.00 TLC Vision Corp 11,952 .50 08114/2003 13,120.10 08/1212003 (1,167 .60) 0.00 398 .00 TLC Vision Corp 2,25883 08/14/2003 2,447.70 08/13/2003 (18887) 0.00 241 .00 Transaction Sys Archtets 2,723.17 08/14/2003 2,935.38 07/3112003 (212 .21) 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 52 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

360-00 Transaction Sys Archtcts 4,067.80 08/14/2003 4,402.80 08/08/2003 (335.00) 0.00 309 .00 Ask Jeeves Inc 4,987.76 08/1512003 2,019.81 02118/2003 2,967.95 0.00 303.00 Imax Corp 2,172.40 08/1512003 2,178.57 08/12/2003 (617) 000 2,352.00 Looksmart lAd 8,062.56 08115/2003 9,072.20 07/1612003 (1,009.64) 000 67200 Looksmart Ltd 2,303.59 0811512003 2,71488 08/1212003 (411 .29) 0.00 258.00 Millicom Intl Cellular S.a. 8,229.81 08/15/2003 6,816.62 0612512003 1,413.19 0.00 153 .00 Millicom Ind Cellular S.a. 4,880.47 08115/2003 4,111 .28 07/0112003 76919 0.00 324.00 Sobu com Inc. 9,453.87 08/15/2003 2,11042 12/2312002 7,34345 0.00 107-00 Simpletech Inc 395 .88 08/15/2003 590.74 07/23/2003 (19486) 0.00 142 .00 Angiotech Pharmaceuticals 6,463.53 08/18/2003 6,171 .16 07/07/2003 29237 0.00 136 .00 Angiotech Pharmaceuticals 6,19043 08/1812003 5,916.00 07/09/2003 274 .43 0.00 23.00 Angiotech Pharmaceuticals 1,046.91 08/18/2003 980.49 07/2512003 6642 000 269.00 Ask Jeeves Inc 4,375.78 08/1812003 1,758.35 02/1&'2003 2,617.43 000 259.00 Ask Jeeves Inc 4,213.11 08/18/2003 4,530.74 08/18/2003 (317.63) 0.00 306.00 Imax Corp 2,187.89 09/18t2003 1,32804 03/1412003 859 .85 0.00 396.00 Imax Corp 2,831.38 08/18/2003 1,802.83 03/1 &12003 1,028.55 0.00 160 .00 Imax Corp 1,143.99 08/18/2003 810.77 03/26/2003 333 .22 0.00 45.00 Imax Corp 321 .75 08/18/2003 323.55 08/12/2003 (1.80) 0.00 934.00 Laserscope 9,471 .05 0811812003 9,721 .63 08/13/2003 (250.58) 0.00 242.00 Laserscope 2,453.96 08/18/2003 2,511 .96 08/14/2003 (58 .00) 0.00 9.00 Simpletech Inc 33.15 08/18/2003 49.69 07/2312003 (16.54) 0.00 262.00 Simpletech Inc 965 .11 08/1812003 1,252.36 08/05/2003 (287.25) 0.00 2,003.00- TLC Vision Corp 11,223 .87 08/18/2003 10,062.85 06112/2003 1,161.02 0.00 301 .00 TLC Vision Corp 1,686.66 08/1 W2003 1,53033 06113/2003 156 .33 000 1,049.100 Ultralife Bafferies Inc 12,749 .05 08/1812003 10,41657 06105/2003 2,332.48 0.00 31.00 Ultralife Batteries Inc 376 .76 08/18/2003 291 .40 0611212003 85 .36 0.00 464.00 Ultralife Batteries Inc 5,639.23 08/18/2003 4,677.12 07/07/2003 962.11 0.00 754.00 Alaris Medical Inc 11,89809 08/19/2003 11,99049 07/1612003 (92.40) 0.00 294.00 Alaris Medical Inc 4,639.31 08/19/2003 4,409.50 08/08/2003 229 .81 0.00 1,546.00 Grupo Financiero, Galicia-B ADR 6,163.56 08/19/2003 4,197.67 03/24/2003 1,965.89 0.00 1,130.00 Grupo Financiero Galicia-B ADR 4,505.06 08/19/2003 3,073.62 04/10/2003 1,431.44 0.00 453.00 Imax Corp 3,307.01 08/19/2003 1,725.34 02/27/2003 1,581.67 0.00 381 .00 Imax Corp 2,781 .40 08/19/2003 1,653.54 03/14/2003 1,127.86 0.00 37600 Imax Corp 2,744.90 08/19/2003 1,627.44 03/17/2003 1,117.46 0.00 33.00 Nfl Holdings Inc - C1 B 1,915.29 08/19/2003 1,789.82 08/1212003 125 .47 0.00 197.00 NII Holdings Inc - C1 B 11,433 .68 08/19/2003 10,96075 08/13/2003 472.93 0.00 388.00 Mannatech Inc 2,40048 08120/2003 2,612.71 06/27/2003 (21223) 0.00 973 .00 Mannatech Inc 6,01976 08/20/2003 6,312.92 07/09/2003 (293 16) 0.00 128.00 Mannatech Inc 791 .91 08/2012003 872.96 07/17/2003 (8105) 0.00 2,752.00 Terayon Communication Sy 18,797 .32 OW012003 13,929 .25 08/13/2003 4,868.07 000 1,194.00 Tcrayon Corrummication Sy 8,155.52 08/2012003 6,134.53 08/14/2003 2,020.99 0.00 720.00 Anputech Pharmaceuticals 32,2124 75 08f2 U2003 21,833 .21 05/29/2003 10,39154 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

360.00 Angiotech Pharmaceuticals 16,112.38 08/21/2003 10,727 .96 05/3012003 5,38442 0.00 177.00 Angiotech Pharmaceuticals 7,92192 0&121/2003 5,543.89 06104/2003 2,37803 0.00 471 .00 Angio(ech Pharmaceuticals 21,080.36 08/21/2003 20,078 .73 07/25/2003 1,001 .63 0.00 458 .00 FINDWHAT.COM 9,842.91 08/2112003 10,046 .55 07/07/2003 (20364) 000 414-00 FINDWHAT COM 8,897.31 0&21/2003 9,418.83 07/21/2003 (521 .52) 0.00 563 .00 Honiestore com 1,701 .07 08/21/2003 2,125.74 07129/2003 (424.67) 000 702-00 Homestore.com 2,121.05 0&21/2003 2,631 .52 07/31/2003 (510.47) 0.00 13700 Mannatech Inc 866.48 08/21/2003 852 .73 0612612003 13 .75 0.00 376.00 Mannatech Inc 2,37808 0&21/2003 2,439.53 07/09/2003 (61 .45) 0.00 724 .00 Omnivision Technologies 29,521 .52 08/21/2003 28,409 .76 07/14/2003 1,11176 0.00 143.00 Omnivision Technologies 5,830.91 08n 1/2003 6,181 .40 08/14/2003 (35049) 000 1,419.00 Terayon Communication Sy 9,371.48 08/21/2003 7,13369 08/01/2003 2,237.79 0.00 384-00 Terayon Cominunication Sy 2,536.05 08/2112003 1,92280 08/0&'2003 613 .25 0.00 3900 Terayon Communication Sy 257 .57 08121/2003 197 .40 08/13/2003 60.17 0.00 1,449.00 AT Road Inc 19,287 .88 08/25/2003 11,483 .33 05/19/2003 7,804.55 000 22-00 AT Road Inc 292.85 0&'2512003 177 .00 05/21/2003 115 .85 0.00 60.00 Ask Jeeves Inc 1,011.47 08/25/2003 392 .20 02/1 &12003 619 .27 000 299-00 Ask Jeevcs Inc 5,040.48 08/25/2003 5,468.71 08120/2003 (428 .23) 0.00 75.00 FINDWHAT.COM 1,487.18 08/25/2003 1,505.24 07/03/2003 (18.06) 0.00 258 .00 FINDWHAT.COM 5,115.90 0&25/2003 5,659.41 07/07/2003 (543 .51) 0.00 58.00 FINDWHAT.COM 1,150.09 08/25/2003 1,15453 08/12/2003 (4.44) 0.00 293 .00 Sohu com Inc. 8,567.58 08/25/2003 9,693.32 08/20/2003 (1,125 .74) 0.00 1,278.00 TLC Vision Corp 6,741.60 08125/2003 6,09280 06f 11/2003 648 .80 0.00 675.00 TLC Vision Corp 3,560.70 08/25/2003 3,391 13 06/12/2003 169 .57 000 775.00 Ultralifc Batteries Inc 9,631.47 08/2512003 7,285.00 06112/2003 2,34647 0.00 128.00 Sohu com Inc. 3,795.39 08126(2003 833 .75 12123/2002 2,961 .64 0.00 167.00 Sohu com Inc. 4,951.80 08126/2003 5,524.86 08/20(2003 (573.06) 000 " 00 Ultralife Batteries Inc 52445 0&'2612003 408.41 05/2912003 116 .04 0.00 141.00 Ultralife Batteries Inc 1,680.64 0&'26/2003 1,325.40 06112/2003 35524 0.00 525 .00 Epic Design Tech 3,873.68 08/27/2003 4,126.50 08/15/2003 (252.82) 0.00 708 .00 Fuel Tech N V 3,823.01 0&*77/2003 4,340.04 07/23/2003 (517.03) 000 121.00 Fuel Tech N V 653 .37 0&'27/2003 743 .87 07/25/2003 (90.50) 000 331 .00 FINDWHAT.COM 6,703.29 08/27/2003 6,58879 08/12/2003 114.50 0.00 402.00 Laserscope 3,82043 08/27/2003 3,96199 07/25/2003 (141 .56) 0.00 130.00 Laserscope 1,235.46 08/2712003 1,349.40 08114/2003 (113 .94) 0.00 419.00 Navigant Consulting Co 5,943.39 OW7/2003 3,825.05 05/22/2003 2,018.34 000 507 .00 TLC Vision Corp 2,577.06 08/27/2003 2,417.10 06111/2003 15996 0.00 605 .00 TLC Vision Corp 3,075.19 08/27/2003 2,846.08 07/07/2003 229 .11 0.00 8.00 Ultralife Batteries Inc 96.79 08127/2003 74.26 05/29/2003 22 .53 0.00 14000 Closure Medical Corporation 3,585.93 0&'28/2003 3.307 .09 07/21/2003 278 .84 0.00 185-00 Closure Medical Corporation 4,738.55 08n8/2003 4,374.25 07/22/2003 364.30 0.00 149.00 Epic Design Tech 1,092.43 08/2&'2003 1,171 .14 08115/2003 (78 .71) 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 54 Gains and Loss Reportfron: 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceed Date cost Date Gain (- Loss Premium Discount 13700 Epic Design Tech 1,004.45 Oa/2812003 1,06404 08/19/2003 (59 .59) 0.00 291 .00 Epic Design Tech 2,133.54 08r28/2003 2,27449 08120/2003 (140.95) 0.00 44.00 Fuel Tech N V 234.07 0812912003 269.72 07123/2003 (35 .65) 0.00 332.00 Fuel Tech N V 1,766.15 08/28/2003 2,025.17 07/31/2003 (259.02) 0.00 26100 Kyphon Inc 6,143.75 08/28/2003 5,606.28 08/12/2003 537.47 0.00 320.00 Kyphon Inc 7,53257 08/28/2003 7,379.58 08/13/2003 152 .99 0.00 302.00 Laserscope 2,89906 08/28/2003 2,976.42 07125/2003 (77 .36) 0.00 280 .00 Navigant Consulting Co 3,955.29 08/2812003 2,556.12 05/22/2003 1,399.17 0.00 309.00 Performance Tech Inc 3,81906 08/28/2003 2,997.92 07/08/2003 821 .14 0.00 452.00 Performance Tech Inc 5,586.45 08/28/2003 4,68724 07/21/2003 899.21 0.00 130.00 Performance Tech Inc 1,606.72 08/2812003 1 .351 .12 07/22/2003 25560 0.00 501 .00 Performance Tech Inc 6,192.06 08/28/2003 6,097.27 08/19/2003 94.79 000 26' 00 Ultralife Batteries Inc 3,047.35 08/28/2003 2,459.73 05/2912003 587.62 0.00 735 .00 Closure Medical Corporation 18,24919 08/2912003 17,36085 07/18/2003 888.34 0.00 313 .00 Closure Medical Corporation 7,771 .42 08/29/2003 7,393.72 07/21/2003 377.70 0.00 134.00 Epic Design Tech 983 .32 08/29/2003 1,040.74 08/19/2003 (57 .42) 0.00 502.00 Laserscope 4,818.97 08129/2003 4,947.56 07/25/2003 (128.59) 0.00 221 .00 Closure Medical Corporation 5,483.59 09/0212003 4,833.27 07/17/2003 650.32 0.00 18.00 Closure Medical Corporation 44663 09102/2003 425.16 07/18/2003 21 .47 0.00 63.00 Switchboard Incorporated 751 .54 09/02/2003 478.43 08/13/2003 273.11 0.00 164.00 Switchboard Incorporated 1,956.38 09/02/2003 1,254.65 Oa/19/2003 701.73 0.00 353 .00 TLC Vision Corp 1,800.95 09/0212003 1,660.60 07/07/2003 140.35 0.00 190.00 United Online Inc 7,389.59 09/02/2003 5,597.40 07/25/2003 1,792.19 0.00 189.00 Closure Medical Corporation 4,668.08 09/03/2003 4,133.43 07/17/2003 534.65 0.00 452.00 J2 GLOBAL COMMUNICATIONS INC 16,337 .27 09/03/2003 12,136 .20 09/14/2003 4,201 .07 0.00 103.00 Switchboard Incorporated 1,163.30 09/03/2003 782.20 08/13/2003 381 .10 0.00 409 .00 Ultralife Batteries Inc 4,262.27 09/03/2003 3,717.81 05/27/2003 544.46 0.00 383 .00 Ultralife Batteries Inc 3,991 .32 09/03/2003 3,555.01 05/29/2003 436.31 0.00 417 .00 LICA Vision Inc 6,318.04 09/04/2003 5,524.17 07/31/2003 793.87 0.00 79.00 LCA Vision Inc 1,196.94 09/04/2003 1,049.91 09105/2003 147 .03 0.00 43.00 Navigant Consulting Co 676.12 09/04/2003 389.90 05/14/2003 286.22 0.00 34400 Navigant Consulting Co 5,408.94 09/04/2003 3,140.38 05/22/2003 2,268.56 0.00 611 .00 Navigant Consulting Co 9,607.16 09/0412003 9,471 .17 09/0212003 135 .99 0.00 45.00 Penwest Pharmaceuticals Co 979 .15 09/0412003 1,062.45 07/31/2003 (83 .30) 0.00 998.00 Select Comfort Corp. 23,471 .85 09/0412003 19,923 .07 08/1212003 3,548.78 0.00 531 .00 TLC Vision Corp 2,798.40 09/04/2003 2,345.34 06t05/2003 45306 0.00 793 .00 TLC Vision Corp 4,179.15 09/04/2003 3.721 .79 0610612003 457.36 000 2,483.00 TLC Vision Corp 13,085 .53 09/04/2003 11,68067 07/07/2003 1,404.86 000 219 .00 Transaction Sys Archtcts 3,467.87 09/0412003 2,790.78 08/25/2003 677.09 0.00 212 .00 Transaction Sys Archtcts 3,357.03 09/04/2003 2,774.55 08126r-)003 582.48 0.00 247 .00 Ultralife Batteries Inc 2,674.88 09/04/2003 2,245.23 05127/2003 42965 000 1,217.00 Ultidlife Batteries Inc 13,179 .49 00104t20- 03 11 .047 .32 05/30/2003 2,132.17 000

0 9- 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

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338.00 United Online Inc 13,485.56 09/0412003 9,95748 07125/2003 3,528.08 0.00 1,049.00 Verso Technologies Inc 5,061.81 09/04/2003 3,880.63 08/2G(2003 1,181.18 0.00 186.00 Verso Technologies Inc 897.52 09/0412003 693.11 08/21/2003 20441 0.00 918.00 Verso Technologies Inc 4,429.68 09/04/2003 3,594.92 08/2712003 83476 0.00 1,853.00 Verso Technologies Inc 8,941.40 09/0412003 8,37416 09/03/2003 567.24 0.00 82 .00 Closure Medical Corporation 1,93920 0910512003 1,793.34 07/1712003 145.86 0.00 165.00 LCA Vision Inc 2,570.58 09/05/2003 2,185.82 07/31/2003 384.76 0.00 147.00 LCA Vision Inc 2,290.15 09/05/2003 1,918.67 08/01/2003 371 .48 000 91 .00 Martek Bicisciences Corp 4,482.04 09/05/2003 2,236.78 02/2012003 2,24526 000 71 .00 Martek Biosciences Corp 3,496.98 09/05/2003 1,735.95 02121/2003 1,761 .03 0.00 26 .00 Martek Biosciences Corp 1,280.58 09/05/2003 66184 03/1412003 61874 0.00 63 .00 Martek Biosciences Corp 3,10295 09/05/2003 2,96982 08/12/2003 133.13 000 191.00 Martek Biosciences Corp 9,407.36 09/05/2003 9,476.94 08r2l/2003 (69.58) 000 344.00 Navigant Consulting Co 5,315.33 09/0512003 3,119.19 05/1412003 2,19614 0.00 825.00 Network Engines Inc 5,246.34 09/05/2003 4.722.14 Oa/1912003 524.20 0.00 1,517.00 Network Engines Inc 9,646.90 09/05/2003 10,059 .99 09/03/2003 (413 .09) 0.00 256.00 Openwave Systems Inc 1,182.74 09/05/2003 1,058.56 08/04/2003 124.18 000 1,276.00 Openwave Systems Inc 5,895.24 09/05/2003 5,755.65 08/18/2003 13959 0.00 110.00 Penwest Pharmaceuticals Co 2,338.48 09/05/2003 2,570.64 07/30/2003 (232 .16) 0.00 61 .00 Penwest Pharmaceuticals Co 1,296.80 09/05/2003 1,440.21 07/31/2003 (143 .41) 0.00 679-00 Primus Telecommun Grp 5,623.00 09/05/2003 5,304.08 08127/2003 318.92 000 9.00 Ultralife Batteries Inc 97 .65 09/05/2003 78 .16 05/22/2003 19 .49 0.00 532.00 Ultralife Batteries Inc 5,771.92 09/0512003 4,829.23 05130/2003 94269 0.00 120.00 Closure Medical Corporadon 2,899.22 0910812003 2,62440 07/17/2003 274.82 0.00 591.00 Laserscope 5,785.32 09/08/2003 5,358.12 07r22/2003 427.20 0.00 475.00 Lasersecipe 4,649.79 09/0812003 4,681 .46 0712512003 (3167) 000 201.00 Martek Biosciences Coip 9,934.02 09/0812003 4,914.45 02121/2003 5,019.57 0.00 372.00 Penwest Pharmaceuticals Co 7,815.35 09/0a/2003 8,51478 07/16/2003 (69943) 0.00 65 .00 Penwest Pharmaceuticals Co 1,365.58 09/08/2003 1,519.02 07/30/2003 (153 .44) 0.00 281.00 Performance Tech Inc 3,298.78 09/0&'2003 2,726.26 07/0812003 572.52 0.00 240.00 Select Comfort Corp. 5,647.24 09/08/2003 3,878.14 05/30/2003 1,769.10 000 53 .00 Select Comfort Corp. 1,247.10 09/08/2003 850.68 06102/2003 39642 0.00 30600 Select Comfort Corp . 7,200.24 09/08/2003 6,10868 08/1212003 1,09156 0.00 77 .00 Closure Medical Corporation 1,879.67 09/09/2003 1,683.99 07/17/2003 19568 0.00 250.00 Kyphon Inc 6,149.71 09/09/2003 3,02000 05/27/2003 3,129.71 0.00 10.00 Kyphonlnc 245.99 09/09/2003 214.80 08/12/2003 31 .19 0.00 200.00 KyphonInc: 4,919.77 09/09/2003 5,280.00 09/0312003 (36023) 0.00 59 .00 Millicom Intl Cellular S.a . 2,519.50 09/09/2003 1,558.84 06/25/2003 96066 0.00 286.00 Millicom Intl Cellular S.a. 12,213 .17 09/09/2003 11,05682 08/27/2003 1,15635 0.00 133.00 Millicom Intl Cellular S.a. 5,679.55 09/09/2003 5,42640 09/0212003 253.15 0.00 636.00 Navigant Consulting Co 9,711 .39 09/09/2003 5,76687 05/14/2003 3,944.52 0.00 19 .00 N11 Holdings Inc - C1 B 1,204.92 09/09/2003 984.59 08/0112003 220.33 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 56 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Descriptiftn Proceeds Date cost Date Gain (- Loss) Premium Discount) 181.00 Nil Holdings Inc - Cl B 11,478.48 09/09/2003 9,81692 08/1212003 1,661.56 0.00 603 .00 Openwave Systems Inc 2,756.11 09109/2003 2,493.42 08/04/2003 262.69 000 10.00 Openwave Systems Inc 45.71 09/09/2003 41 .00 Oa/15/2003 4.71 0.00 529 .00 Penwest Pharmaceuticals Co, 10,780.51 09/09/2003 12,10839 07/16/2003 (1,327 .88) 000 272 .00 Penwest Pharmaceuticals Co 5,543.10 09/09/2003 6.196 .21 07/2212003 (653 .11) 0.00 285.00 Penwest Pharmaceuticals Co 5,808.02 09/09/2003 6,478.05 08/21/2003 (670.03) 0.00 1,318.00 Primus Telecommun Grp 9,862.65 09/09/2003 9,826.61 08125/2003 36 .04 0.00 108 .00 Primus Telecommun Grp 808 .17 09/09/2003 792.51 08/2612003 15 .66 0.00 414.00 Primus Tclecommun Grp 3,097.98 09/09/2003 3,23400 0812712003 (136.02) 0.00 688-00 Performance Tech Inc 7,445.93 09/09/2003 6,67498 07/0812003 770.95 0.00 474.00 TLC Vision Corp 2,795.70 09/09/2003 2,80049 09/05/2003 (4.79) 0.00 174 .00 Ventana Medical Sys Inc 7,142.36 09/09/2003 6,489.36 07/14/2003 653.00 0.00 219.00 Ventana Medical Sys Inc 8,989.53 09/09/2003 8,07731 07/2212003 912.22 0.00 161 .00 Ventana Medical Sys Inc 6,608.74 09/09/2003 6,782.93 09/05/2003 (174.19) 0.00 64-00 Closure Medical Corporation 1,382.25 09/10/2003 1,39968 07/17/2003 (17 .43) 0.00 389.00 Millicom Ind Cellular S.a. 15,887 .84 09/1012003 10,277 .77 06125/2003 5,61007 0.00 1,500-00 Navigant Consulting Co, 21,100.85 09/1012003 13,374 .15 05/13/2003 7,726.70 0.00 186-00 Navigant Consulting Co 2,616.51 09/10/2003 1,68654 05/14/2003 92997 0.00 360-00 Network Engines Inc 2,570.38 09/10(2003 1,80936 07/2&'2003 761 .02 0.00 1,470-00 Network Engines Inc 10,495 .74 09/10/2003 7,915.22 08/18/2003 2,580.52 0.00 502.00 Network Engines Inc 3,584.26 09/1012003 2,873.35 Oa/ 19/2003 71091 0.00 379-00 TLC Vision Corp 2,218.10 09/1012003 2,239.21 09/05/2003 (21 .11) 000 218.00 Vixel Corp 1,499.72 09/10/2003 1,853.00 09103/2003 (353 .28) 000 227.00 Millicom Intl Cellular S.a. 9,256.80 09/11/2003 5,724.28 06124/2003 3,532.52 0.00 12.00 Millicom Intl Cellular S.a. 489.35 09/11/2003 317.05 06r25/2003 172 .30 0.00 1,046.00 Network Engines Inc 7,456.57 09/1112003 5,257.21 07/28/2003 2,199.36 0.00 453 .00 Nil Holdings Inc - CI B 26,702 .55 09/11/2003 23,474.73 08/01/2003 3,227.82 0.00 210.00 Nil Holdings Inc - Cl B 12,378 .67 09/1112003 10,281 .85 08/0412003 2,096.82 0.00 12400 Nil Holdings Inc - Cl B 7,309.31 09/11/2003 6,072.88 Oa/05/2003 1,236.43 0.00 85.00 Nil Holdings Inc - Cl B 5,010.41 09/11/2003 4,077.45 Oa/0612003 932.96 0.00 370.00 Sonic Solutions 5,239.99 09111/2003 4,605.72 08/21/2003 634.27 000 240.00 Switchboard Incorporated 2,599.07 09/11/2003 2,891.57 09/0512003 (292 .50) 000 1,244-00 TLC Vision Corp 7,102.90 09/11/2003 5,494.55 06105/2003 1,608.35 000 19.00 TLC Vision Corp 108 .48 09/11/2003 112.26 09/05/2003 (3.78) 0.00 74.00 Chordiant Software Inc. 225 .56 09/12/2003 27735 09/02/2003 (51 .79) 0.00 1,558.00 Chordiant Software Inc. 4,74901 09/1212003 5,94049 09/03/2003 (1,191 .48) 0.00 800.00 Faro Technologies Inc 8,399.60 09/1212003 9,147.84 08/27/2003 (748 .24) 0.00 651 .00 Laserscope 6,451 .10 09/12/2003 6,707.71 09/09/2003 (256 .61) 0.00 120.00 Mannatech Inc 909.51 0911212003 976.80 09/05/2003 (67 .29) 0.00 253 .00 Mannatech Inc 1,917.54 09/12/2003 2,071.41 09/0a/2003 (153 .87) 0.00 1,457.00 Ultralife Batteries Inc 15,822 .27 0911212003 12,488 .68 0921/2003 3,333.59 0.00 720.00 Ultralife Batteries Inc 7,818.83 09/1212003 6,252.77 0 512 2/2 W 3 1,566.06 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 57 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Descrivtion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

71.00 Vixel Corp 490 .19 09/12/2003 603 .50 09/03/2003 (113 .31) 0.00 273 .00 Chordiant Software Inc. 921 .22 09/15/2003 1,02319 09/0212003 (101 .97) 0.00 709.00 Caraco Pharm Labs Inc 6,98033 09/15/2003 7,840.33 08/20/2003 (86000) 0.00 726.00 KCS Energy Inc. 4,952.32 09/1512003 5,307.06 09/05/2003 (354 .74) 000 8000 KCS Energy Inc. 545 .71 09/15/2003 617 .60 09/0812003 (71 .89) 0.00 117 .00 KCS Energy Inc. 798 .10 09/15/2003 84065 09/10/2003 (42 .55) 0.00 1,087.00 Laserscope 10,815 .14 09/15/2003 9,614.19 07/21/2003 1,200.95 0.00 525 .00 Laserscope 5,223.50 09/15/2003 4,759.76 07/2212003 463.74 000 415 .00 Laserscope 4,129.05 09/15/2003 4,276.04 09/09/2003 (146.99) 0.00 100.00 Mannatech Inc 745 .96 09/15/2003 622 .43 0612612003 123 .53 000 158.00 Mannatech Inc 1,178.62 09/15/2003 1,286.12 09/05/2003 (107 .50) 0.00 984.00 Pnmus Telecommun Grp 7,173.02 09/15/2003 6,708.42 08/12/2003 46460 0.00 301 .00 Primus Telecommun Grp 2.194.18 09/15/2003 2,208.77 0812612003 (1459) 0.00 789.00 Performance Tech Inc 8,055.30 09/15/2003 7,654.88 07/08f2003 40042 0.00 151 .00 Trident Microsystems 1,99008 09/1512003 2,142.07 09/04/2003 (151 .99) 000 263 .00 Ultra Petroleum Corp ADR 3,66730 09/1512003 3,842.67 09/0412003 (175 .37) 0.00 179.00 Ultra Petroleum Corp ADR 2,496.00 09/15/2003 2,59521 09/05/2003 (99.21) 000 405 .00 Vixel Corp 2,848.96 09/15/2003 3,442.50 09/03/2003 (593 .54) 0.00 605 .00 Vixel Corp 4,255.85 09/15/2003 5,142.50 09/04/2003 (886.65) 0.00 101 .00 Chordiant Software Inc. 327 .99 09/1612003 378.54 09/0212003 (50.55) 0.00 572.00 Caraco Pharm Labs Inc 5,523.54 09/16/2003 6,320.60 08/1112003 (79706) 0.00 17.00 Caraco Phann Labs Inc 164.16 09/1612003 182.75 08115/2003 (18 .59) 000 1.00 Caraco Pharm Labs Inc 9.66 09/1612003 11.06 08/20/2003 (1 .40) 000 677 .00 Epic Design Tech 6,322.88 09/1612003 6,449.78 09/12/2003 (126 .90) 0.00 1.024.00 Homestore .corn 3,394.73 09/1612003 3,838.57 07/31/2003 (443 .84) 0.00 398.00 J2 GLOBAL COMMUNICATIONS INC 17,407 .30 09/16/2003 16,753 .25 09/1212003 654.05 0.00 895 .00 KCS Energy Inc. 5,968.20 09/1612003 6,263.48 08/14/2003 (295 .28) 0.00 27.00 KCS Energy Inc. 180.05 09/16/2003 193.99 09/10/2003 (13 .94) 0.00 1,102.00 Kyphonlnc 26,531 .49 09/16/2003 13,31216 05/27/2003 13,219.33 0.00 35.00 Martek Biosciences Corp 1.816.60 09/1612003 855.75 02/21/2003 960.85 0.00 161.00 Martek Biosciences Corp 8,35634 09/16/2003 8,49879 09/10/2003 (142 .45) 0.00 196.00 Mannatech Inc 1,456.21 09/16/2003 1,219.96 06126/2003 236.25 0.00 291 .00 NII Holdings Inc - Cl B 17,240.94 09/1612003 13,95927 08/0612003 3,281.67 0.00 1,382.00 Openwave Systems Inc 6,268.92 09/1612003 5,66616 08/15/2003 602.76 0.00 262.00 Performance Tech Inc 2,70109 09/1612003 2,541 .92 07/08/2003 15917 0.00 7,490.00 24n Real Media Inc. 11,149.11 09/1612003 13,45785 09/04/2003 (2,308 .74) 0.00 1,229.00 TLC Vision Corp 7,951.25 09/16/2003 4,67621 06/04/2003 3,275.04 0.00 1,016.00 TLC Vision Corp 6,573.20 09/16/2003 4,487.51 06105/2003 2,085.69 0.00 72.00 Trident Microsystems 922.06 09/16/2003 943.34 08/19/2003 (2128) 0.00 371 .00 Trident Microsystems 4,751.17 09/16/2003 4,88236 09/03/2003 (131 .19) 0.00 510.00 Trident Microsystems 6,531.26 09/1612003 7,234.81 09/04/2003 (703 .55) 0.00 224.00 United Online Inc 8,768.24 09/1612003 6,599.04 07/25/2003 2,169.20 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 58 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Descrii)tion Proceeds Date cost Date Gain (- Loss) Premium Discount) 185.00 United Online Inc 7,241-63 09/1612003 5,422.61 07/29/2003 1,819.02 0.00 66600 Ultra Petroleum Corp ADR 9,082.74 09116/2003 9,443.55 08/2812003 (360 .81) 0.00 568.00 Ultra Petroleum Corp ADR 7,746.24 09/1612003 8,235.09 09/05/2003 (488 .85) 0.00 62.00 Vixel Corp 435.84 09/16/2003 521 .10 08/0112003 (85 .26) 0.00 262.00 Vixel Corp 1,841 .77 09/1612003 2,227.00 09/04/2003 (385 .23) 0.00 235.00 Chordiant Software Inc. 77283 09/17/2003 88077 09/02/2003 (107 .94) 0.00 760.00 Caraco Pharm Labs Inc 7,47303 09/17/2003 7,790.00 07125/2003 (316 .97) 0.00 373.00 Caraco Pharm Labs Inc 3,667-68 09/17/2003 4,009.75 08/15/2003 (342 .07) 000 194 .00 Epic Design Tech 1,784.71 09/17/2003 1,459.15 08/1212003 325.56 0.00 469.00 Epic Design Tech 4,314-59 09/17/2003 3,642.58 08/19/2003 672.01 0.00 490.00 Epic Design Tech 4,50778 09/17/2003 4,63285 09/11/2003 (125 .07) 0.00 687.00 Epic Design Tech 6,320.10 09/1712003 6,545.05 09/1212003 (224 .95) 000 1,430.00 Hornestore.corn 4,36389 09/17/2003 5,360.51 07/3112003 (996 .62) 0.00 304 .00 KCS Energy Inc. 1,973.81 09/1712003 2,127.48 08/14/2003 (153 .67) 0.00 1,094.00 KCS Energy Inc. 7,10311 09/17/2003 7,642.47 08/27/2003 (539 .36) 0.00 224 .00 LCA Vision Inc 4,146.04 09/1712003 3,890.88 09/1512003 255.16 0.00 208.00 1jonbndge Technologies Inc. 1,672.51 09/17f2OO3 1,099.11 07/1112003 573.40 0.00 1,388.00 Ljonbridge Technologies Inc. 11,160 .79 09/17/2003 9,190.92 08/1412003 1,969.87 000 84.00 Mesa Air Group Inc. 995.10 09/1712003 1,100.14 09108/2003 (105 .04) O.OD 622.00 Mesa Air Group Inc. 7,368.48 09/17/2003 7,936.22 09/09/2003 (567 .74) 0.00 59.00 Mesa Air Group Inc. 698.94 09/17/2003 727.33 09/12/2003 (28 .39) 0.00 576.00 Mannatech Inc 4,082.49 0911712003 3,585.19 06126/2003 497.30 0.00 174 .00- Navigant Consulting Co 2,25008 09/17/2003 1 .551 .40 05/13/2003 698.68 0.00 54.00 Navigant Consulting Co, 698.30 09/1712003 474.60 05/2112003 223.70 0.00 947.00 Openwave Systems Inc 4,337.27 09/1712003 3,882.68 08/1512003 454.59 0.00 262.00 Performance Tech Inc 2,604.15 09/17/2003 2,541.92 07/08/2003 62.23 0.00 1,367.00 24f7 Real Media Inc. 2,07071 09/17/2003 1,609.08 06/06/2003 461 .63 0.00 938.00 24f7 Real Media Inc. 1,420.87 09/1712003 1,113.79 06/13/2003 307.08 0.00 6,016.00 2417 Real Media Inc. 9,112.96 09/17/2003 9,410.63 08/19/2003 (297 .67) 0.00 4,610.00 2417 Real Media Inc. 6,983.17 09/1712003 8,141.21 09/03/2003 (1 .158 .04) 0.00 1,659.00 24/7 Real Media Inc. 2,513.03 09/17/2003 2,980.85 09/04/2003 (467 .82) 0.00 1,850.00 TLC Vision Corp 12,001 .30 09/17/2003 7,039.04 06/04/2003 4,962.26 0.00 355.00 Trident Microsystems 4,618.33 09/17/2003 4,651.17 08/19/2003 (32.84) 0.00 468.00 Ultra Petroleum Corp ADR 6,343.58 09/17/2003 4,950.32 05/0612003 1,393.26 0.00 375.00 Ultra Petroleum Corp ADR 5,083.00 09/1712003 4,031.25 05/1212003 1,051 .75 0.00 22.00 Ultra Petroleum Corp ADR 298.20 09/1712003 240 .24 05/13/2003 57.96 0.00 147.00 Ultra Petroleum Corp ADR 1,992.54 09/17/2003 1,840.56 08/06/2003 151 .98 0.00 333.00 Ultra Petroleum Corp ADR 4,513.70 09/17/2003 4,721.77 08/28/2003 (208 .07) 0.00 1,015.00 Vixel Corp 7,167.38 09/17/2003 8,530.97 08101/2003 (1,363 .59) 000 63.00 Ventana Medical Sys Inc 2,712.65 09/17/2003 2,320.29 0711812003 392-36 0.00 111 .00 Ventana Medical Sys Inc 4,779.43 09/17/2003 4,093.98 07/22/2003 685.45 0.00 19 ; .00 Vcr.,--na Medical Sys inc 8,22407 09/1712003 8.002 .14 09/11/2003 221 .93 0.00

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Account. 06056404 -- RHD FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount) 552.00 Caraco Pharm Labs Inc 5,478.17 09/18/2003 5,658.00 07/2512003 (179 .83) 0.00 410.00 FINDYtrHAT.COM 11,04898 09/1812003 11,160 .20 09/1212003 (111 .22) 0.00 265.00 Homestore .corn 794.96 09/1812003 993.38 07/31/2003 (198 .42) 0.00 105.00 KCS Energy Inc. 653.04 09/1812003 733.51 08/27/2003 (80.47) 0~00 360.00 KCS Energy Inc. 2,238.98 0911812003 2,48400 09104/2003 (245 .02) 0.00 322.00 LCA Vision Inc 5,970.97 09/18/2003 5,593.14 09/15/2003 37783 obo 230.00 Mannatech Inc 1,651 .32 09/1812003 1,431 .59 0612612003 219 .73 0.00 222 .00 Performance Tech Inc 2,175.49 09/18/2003 2,153.84 07/08/2003 21 65 0.00 1".00 Performance Tech Inc 1,24454 09/18/2003 1,168.40 07/09/2003 76.14 000 520.00 TLC Vision Corp 3,40375 09/1812003 1,978.54 0610412003 1,42521 0.00 253 .00 Ultra Petroleum Corp ADR 3,306.53 09/1812003 2,676.13 05106r2003 630.40 000 60.00 Ultra Petroleum Corp ADR 784.16 09/18/2003 622.20 05/07/2003 16196 0.00 1,255.00 Ultra Petroleum Corp ADR 16,40195 09/18/2003 13,257 .69 05/08/2003 3,14426 0.00 11 .00 Ask leeves Inc 232.88 09/19/2003 216.66 09/02/2003 16.22 0.00 184.00 Ask Jeeves Inc 3,895.44 09/19/2003 4,031 .90 09/09/2003 (136.46) 000 1,115.00 Chordiant Software Inc. 3,605.02 09/19/2003 4,178.98 09/02/2003 (573 .96) 0.00 1,043.00 Chordiant Software Inc. 3,372.23 09/19/2003 3,865.07 09/08/2003 (492.84) 0.00 469 .00 Caraco Pharm, Labs Inc 4,693.80 09/19/2003 4,807.25 07/25/2003 (113 .45) 0.00 911 .00 Homestore.com 2,74611 09/19/2003 3,414.98 07f3l/2003 (668 .87) 0.00 340.00 J2 GLOBAL COMMUNICATIONS INC 14,313 .32 09/19/2003 14,311 .82 09/12/2003 1.50 0.00 42.00 LCA Vision Inc 760.16 09/1912003 548.19 08/01/2003 211 .97 0.00 142.00 LCA Vision Inc 2,570.08 09/19/2003 2,466.54 09/1512003 10354 0.00 234.00 Mesa Air Group Inc. 2,696.30 09/19/2003 2,88031 09/03/2003 (184.01) 000 297 .00 Mesa Air Group Inc. 3,42223 0911912003 3,630.74 09/0412003 (208 .51) 0.00 731 .00 Mesa Air Group Inc. 8,423.06 09/19/2003 8,959.94 09/05/2003 (53688) 0.00 286.00 Mesa Air Group Inc. 3,29548 09/19/2003 3,525.69 09/12/2003 (23021) 000 15000 Mannatech Inc 1,064.94 09/19/2003 933.64 06/26/2003 131 .30 000 757 .00 Openwave Systems Inc 3,280.44 09/19/2003 2,88166 07/31/2003 396 .78 0.00 214.00 Openwave Systems Inc 927.36 09/19/2003 877.39 08/1512003 49.97 0.00 474.00 Ultra Petroleum Corp ADR 6,370.30 09/19/2003 4,915.38 05/07/2003 1,454.92 0.00 807 .00 Verso Technologies Inc 3,695.13 09/19/2003 3,756.60 09/11/2003 (61 .47) 0.00 1,230.00 Verso Technologies Inc 5,631 .97 09/19/2003 5,83278 09/16/2003 (20081) 0.00 126.00 Caraco Pharm Labs Inc 1,259.94 09/22/2003 1,29150 07/25/2003 (31 .56) 0.00 492.00 Epic Design Tech 4,501 .78 09/2212003 2,436.07 0611Y2003 2,065.71 0.00 366 .00 Epic Design Tech 3,348.88 O9t2212003 2,752.83 08/12/2003 596 .05 0.00 330.00 LCA Vision Inc 5,739.21 09/22/2003 4,307.23 Oa/0112003 1,431.98 0.00 288 .00 Mannatech Inc 2,028.57 09/2212003 1,792.60 06/2612003 235 .97 0.00 428.00 Navigant Consulting Co 5,904.88 09/22/2003 3,761 .65 05/2112003 2,143.23 0.00 540.00 Network Engines Inc 3,636.78 09/22/2003 2,714.05 07/28/2003 922 .73 0.00 407.00 Network Engines Inc 2,741.05 09/22/2003 3,066.46 09/17/2003 (325 .41) 0.00 693.OD Netopia Inc 4,907.66 09/22/2003 5,114.34 09/09/2003 (20668) 000 358.00 Netopia Inc 2,535.27 09/22/2003 2,606.03 09/10/2003 (70.76) 000 Driehaus Capital Management Friday January 23, 2004 16 - 50:14 Page 60 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056404 -- RHD FOUNDATION- EMERGING GROWTH

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1,15~.00 Netopia Inc 8,17943 09/22/2003 8,886.57 09/17/2003 (707 .14) 0.00 237.00 Openwave Systems Inc 1,022.20 09/2212003 902.81 07/31/2003 119 .39 0.00 839.00 Terayon Communication Sy 5,489.48 09/2212003 5,806.13 09/02/2003 (316 .65) 0.00 1,639.00 Terayon Communication Sy 10,72379 09/2212003 11,385 .31 09/0312003 (661 .52) 000 230.00 Terayon Communication Sy 1,504.86 09/2212003 1,536.86 09/18/2003 (32 .00) 0.00 39600 24n Real Media Inc. 61069 09/2212003 449 .69 06/04/2003 161 .00 0.00 5,269.00 24n Real Media Inc. 8,125.63 09/22/2003 6,202.06 0610612003 1,923.57 000 7.00 FINDWHAT.COM 146.88 09/23/2003 139 .34 08t12/2003 7.54 0.00 190.00 FINDWHAT.COM 3,986.83 0912312003 4,436.37 09/0212003 (449 .54) 000 232 .00 FINDWHAT.COM 4,868.13 09/23/2003 5,983.37 09/05/2003 (1,115 .24) 000 37.00 FINDWHAT.COM 776.38 09123/2003 1,007.14 09/12/2003 (23076) 0.00 314 .00 LCA Vision Inc 5,34233 09/23/2003 4,002.37 07/25/2003 1,339.96 0.00 532 .00 LCA Vision Inc 9,051.34 09/23/2003 6,943.77 08/01/2003 2,107.57 0.00 204.00 Mannatech Inc 1,407.53 09/23/2003 1,269.75 0612612003 137 .78 0.00 209 .00 Navigant Consulting Co 2,823.47 09/2312003 1,83688 05/21/2003 986.59 000 387 .00 Openwave Systems Inc 1,736.30 09/23/2003 1,474.21 0713112003 262 .09 0.00 74.00 Sonic Solutions 1,15694 09/23/2003 921 .14 08/21/2003 235.80 0.00 509 .00 Sonic Solutions 7,957.84 09123/2003 8,306.88 09/19/2003 (349 .04) 0.00 61 .00 Terayon Communication Sy 405 .76 09/2312003 305 .44 08/08/2003 100 .32 0.00 689 .00 Terayon Communication Sy 4,583.14 09/23/2003 4,40223 09/17/2003 180 .91 0.00 59-00 Terayon Communication Sy 39246 09/2312003 394.24 09/18/2003 (1.78) 0.00 300.00 Ventana Medical Sys Inc 12,620.41 09/23/2003 10,303 .77 07/10/2003 2,316.64 000 300 .00 Ventana Medical Sys Inc 12,620.41 09/2312003 10,505 .49 07/11/2003 2,114.92 000 524.00 Ventana Medical Sys Inc 22,043 .65 09/23/2003 19,298 .92 07/18/2003 2,744.73 0.00 52.00 Ask leeves Inc 1,090.75 09/24/2003 1,02423 09/02/2003 66.52 0.00 1,108.00 deCODE Genetics 5,65053 09/24/2003 5,009.90 09/23/2003 640.63 0.00 321 .00 Concord Camera Corp. 3,519.08 09/2412003 3,858.03 09/15/2003 (338 .95) 0.00 97-00 Concord Camera Coip. 1,063.40 09/24/2003 1,192.02 09/1612003 (128 .62) 0.00 4.00 Concord Camera Corp. 43.85 09/24/2003 48 .88 09/17/2003 (5.03) 0.00 91 .00 Concord Camera Corp. 997.62 09/24/2003 1,134.06 09/18/2003 (136 .44) 0.00 34.00 Concord Camera Corp 372 .74 09/24/2003 423 .48 09/19/2003 (50.74) 0.00 610.00 Mannatech Inc 3,98006 09124/2003 3,796.82 06126/2003 183 .24 0.00 475.00 Navigant Consulting Co 6,372.96 09/2412003 4,139.77 05/20/2003 2,233.19 0.00 650.00 Navigant Consulting Co 8,72089 09/2412003 5,712.79 05/21/2003 3,008.10 000 1,625.00 Openwave Systems Inc 7,572.63 09/24/2003 6,190.15 07/3112003 1 .38248 000 59800 Select Comfort Corp. 16,158 .33 09124/2003 9,02980 05/22/2003 7,128.53 0.00 24900 Select Comfort Corp. 6,728.14 09/24t2003 3,996.60 0610212003 2,731 .54 0.00 1,482.00 Terayon Communication Sy 9,26354 09/24t2003 7,420.79 09/08/2003 1,842.75 0.00 708.00 Terayon Communication Sy 4,425.49 09/2412003 3,533.16 08/11/2003 892 .33 0.00 274.00 Verso Technologies Inc 1,139.58 09/24/2003 1,013.62 08/20/2003 125 .96 0.00 39.00 Verso Technologies Inc 162.20 09/2412003 141 .73 08/22/2003 20.47 0.00 215.00 Verso Technologies Inc 894.20 09/24t2003 1,000.83 09/11/2003 (106.63) 0.00

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449.00 Advanced Neuromodulation Sys 14,394 .86 11/01/2002 15,51484 08/21/2002 (1,119 .98) 0.00 33.00 Advanced Neuromodulation Sys . 1,057.97 11/01/2002 1,19605 08/262002 (138 .08) 0.00 152.00 Fri Consulting Inc. 6,46632 11/0112002 6,19780 08/08/2002 26852 000 142.00 FFl Consulting Inc. 6,040.91 11/01/2002 5,41656 09/0612002 62435 000 369 .00 Wilson Greatbatch Tech Inc 10,718 .05 11/01/2002 10,62591 10/02/2002 92.14 000 420.00 Vendian Corp 9,616.40 11/01/2002 9,328.20 06127/2002 28820 000 320 .00 Venchan Corp 7,326.78 11/01/2002 7,35978 06128/2002 (33 00) 000 591 .00 Chattern Inc. 23,757 .48 11/04/2002 19,910.38 06/12/2002 3,84710 0.00 148.00 Genesee & Wyoming Inc-Cl A 3,12581 11/04/2002 3,559.83 08/23/2002 (434 .02) 000 372 .00 MTC Technologies Inc. 8,616.18 11/04/2002 8,396.60 08/2612002 219.58 000 3200 Ultra Petroleum Corp ADR 268 .96 11/04/2002 27602 09/11/2002 (7.06) 000 2,186.00 Ultra Petroleum Corp ADR 18,373 .42 11/0412002 19,272 .65 10/02/2002 (899 .23) 0.00 494.00 Vendian Corp 10,694 .77 11/04/2002 10,971 .74 06/27/2002 (276 .97) 0.00 565 .00 Espeed Inc Cl A 8,062.13 11/05/2002 7,40449 10/24/2002 657.64 0.00 1,029.00 Genesee & Wyoming Inc-Cl A 20,393 .03 11/05/2002 24,75043 08/23/2002 (4,357 .40) 0.00 59200 Rudolph Technlogies 10,685 .27 11/05/2002 10,43992 10130/2002 245.35 0.00 227 .00 Vendian Corp 4,880.34 11/05/2002 4,77885 06119/2002 101 .49 0.00 20.00 Vendian Corp 429.99 11/05/2002 444.20 06/2712002 (14 .21) 000 1,762.00 Vitalworks Inc 5,476.37 11/0512002 12,668 .07 04/24/2002 (7,191 .70) 0.00 218 .00 Vitalworks Enc 677 .55 11/05/2002 1,631 .77 07/2512002 (954 .22) 000 1,679.00 CornpuCoin Systems Inc. 9,284.12 11/06/2002 10,26003 09/2412002 (975 .91) 000 539.00 CompuCorn Systems Inc. 2,980.43 11/0612002 3,282.08 10122/2002 (30165) 0.00 592.00 Espeed Inc Cl A 8,234.11 11/0612002 7,250.99 10115/2002 983 12 000 322.00 Espeed Inc Cl A 4,478.69 11/0612002 4,21991 10/24/2002 25878 000 411 .00 Hanger Orthopedic Group Inc. 6,160.95 11/06/2002 6,431 .57 09/1612002 (270.62) 000 739.00 Ment Medical Systems Inc. 17,255 .12 11/0612002 14,971 .99 06127/2002 2,283.13 000 93.00 Racing Champions Corp 1,32168 1 1/06t2002 1,78560 03/05/2002 (46392) 0.00 82200 Racing Champions Corp 11,681 .99 11/06/2002 14,495 .97 07/2612002 (2,813 .98) 0.00 1,478.00 Rudolph Technlogies 27,02456 11/0612002 23,29683 lGr2512002 3,727.73 0.00 147.00 Rudolph Technlogies 2,687.83 11/06/2002 2,59234 10/30/2002 95.49 0.00 739.00 Tesco Corp ADR 7,357.70 11/06/2002 7,95800 02/21/2002 (600.30) 0.00 2,461.00 Vitalworks Inc 7,83663 1 VOW2002 17,69360 04/24/2002 (9,85697) 000 881 .00 AC Moore Arts & Crafts Inc. 12,582 .49 11/07/2002 19,205 .80 09/0512002 (6,62331) 000 595.00 AmSurg Corp. - C1 A 16,09426 11/07/2002 18,797 .30 08/1212002 (2,70304) 0.00 32800 Hanger Orthopedic Group Inc. 4,819.91 11/07/2002 5,13274 08/1612002 (31283) 0.00 738.00 Hollywood Entertainment Corp. 12,503 .92 11/07/2002 13,981 .34 10/10/2002 (1,47742) 0.00 1.00 Hollywood Entertainment Corp. 1694 11/0712002 19 04 10t1612002 (2.10) 0.00 1,473.00 Tier Technologies Cl B 21,785 .88 11/08/2002 29,63720 09/10/2002 (7,851 .32) 0.00 1,03500 Blue Rhino Corp . 15,338.02 11/11/2002 17,77706 10/28/2002 (2,439 .04) 0.00 518.00 Hub International Ltd 7,12611 11/1212002 9,49556 1012212002 (2,369 .45) 0.00 214.00 Lendingtree Inc. 2,241.82 11/1212002 3,376.49 09/09/2002 (1,134 .67) 0.00 673 .00 Lendingtree Inc. 7,050.20 11/12/2002 10,63279 09/1012002 (3,58259) 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 2 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantl Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

539 .00 Advanced Neuromodulation. Sys 16,692 .43 11/13/2002 18,624 .71 08/21/2002 (1,93228) 0.00 2 00 American Pharmaceutical Part 37.18 11/1312002 34 .76 09/26/2002 242 000 591 .00 Amencan Pharmaceutical Part 10,98606 11/13/2002 10,62287 10/10/2002 363 .19 0.00 56100 Hub LntemationaI Ltd 7,633.68 11/13/2002 10,283 .80 10/22/2002 (2,650 .12) 0.00 159.00 J2 GLOBAL COMMUNICATIONS INC 3,286.02 11113/2002 3,451.73 08/15/2002 (16571) 000 880 .00 J2 GLOBAL COMMUNICATIONS INC 18,186.76 11/13/2002 19,404.00 09/11/2002 (1,217 .24) 0.00 594 .00 Mantech International Corp-a 13.186.40 11/13/2002 14,850.00 08/27/2002 (1,66360) 000 743 .00 TehkInc 9,175.77 11/1312002 10,36426 07/30/2002 (1,18849) 000 84.00 Ultra Petroleum Corp ADR 679.76 11/13/2002 724.54 09/11/2002 (44.78) 000 54.00 American Pharmaceutical Part 1,007.06 11/1412002 938 .49 09/2612002 68.57 0.00 778 .00 Ultra Petroleum Corp ADR 6,378.78 II/W2002 6,49295 09/10/2002 (114.17) 0.00 1,356.00 Ultra Petroleum Corp ADR 11,117.77 11/14/2002 11,696.18 09/11/2002 (578 .41) 0.00 440 .00 Anteon International Corp 9,312.23 11/15/2002 12,008.48 09126/2002 (2,696.25) 0.00 74600 Anteon International Corp 15,788.46 11/15/2002 21,244.36 10115/2002 (5,455 .90) 000 38800 American Pharmaceutical Part 7,272.52 11/15/2002 6,743.25 09/26r2OO2 52927 0.00 872 .00 CCC Information Services Group 13,693.04 11/15/2002 16,241 .96 10/28/2002 (2,54892) 0.00 266 .00 CCC Information Services Group 4,177.00 11/15/2002 5,083.02 11/01/2002 (906.02) 0.00 79.00 CCC Information Services Group 1,240.54 11/15/2002 1,596.59 11/04/2002 (356.05) 000 73900 Esco Technologies Inc 25,574 .98 11/15/2002 25,928 .26 10/1512002 (353.28) 0.00 859 .00 MTC Technologies Inc. 19,467 .44 11/15/2002 19,012 .85 08/2312002 45459 000 241 .00 MTC Technologies Inc. 5,461.76 11/1512002 5,439.73 08/2612002 22 .03 0.00 519 .00 Vendian Corp 10,324 .98 11/15/2002 10,92609 06tI912002 (601 .11) 0.00 518 .00 Caci International Inc -cl A 19,02338 11/19/2002 21,504 .67 1013W2002 (2,481 .29) 000 203 .00 Cognizant Tech. Solutions Corp. 13,377 .29 11/19/2002 13,142 .61 lOtl7/2002 234.68 000 44300 Espeed Inc C1 A 5,861.91 11/19/2002 5,402.12 10/14/2002 459 .79 0.00 169.00 Espeed Inc CI A 2,236.26 11/19/2002 2,069.96 I0tI5/2002 166.30 0.00 1,027.00 Hanger Orthopedic Group Inc. 13,890.77 11/1912002 16,071 .11 08/16(2002 (2,18034) 0.00 7 3 9 -"-9 Hollywood Entertainment Corp . 12,217 .80 11/19/2002 12,911 .51 10109/2002 (69371) 0.00 1.00 Hollywood Entertainment Corp 1653 11/19/2002 18.94 10/10/2002 (241) 0.00 583 .00 Mantech International Corp-a 11,33900 11/1912002 14,57500 08127/2002 (3,236 .00) 000 418 .00 Merit Medical Systems Inc. 8,51348 11/19/2002 8,46860 06r27/2002 44.88 0.00 375 .00 Net Bank Inc 3,179.90 11/19/2002 4,510.39 09/06r2002 (1,33049) 0.00 147.00 Odyssey Healthcare Inc. 5,13033 11/19/2002 4,691.23 10/08/2002 439.10 0.00 444.00 Odyssey Healthcare Inc. 15,49570 11/1912002 17,20647 11/0612002 (1,71077) 0.00 739 .00 Pec Solutions Inc. 23,93807 11/19/2002 22,962 .21 10123/2002 975 .86 0.00 739.00 Espeed Inc Cl A 9,781.70 11120/2002 9,011.66 10/1412002 770.04 0.00 53.00 Espeed Inc Cl A 701 .53 11/20/2002 632 .69 10/16/2002 68.84 0.00 123.00 Merit Medical Systems Inc. 2,507.48 11/20/2002 2,491.96 06/27/2002 15.52 0.00 34000 Coinstar Inc. 8,427.05 11/21/2002 10,612.86 11/06/2002 (2,185 .81) 0.00 296.00 Fri Consulting Inc. 11,135 .57 11121/2002 10,879 .33 07/25/2002 256.24 0.00 59400 Fri Consulting Inc. 22,346.37 11/21/2002 22,65801 09/0612002 (311 .64) 0.00 751 .00 Kroll Inc 13,810.32 1 1 r- 1. 1-2002 14,932 .73 05/03/2002 (1,122 .41) 000

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Sale Purchase Realized Unamortized Bond Ouantity Security D Ption Proceeds Date Cost Date Gain (- Less) Premium Discount) 884.00 Kroll Inc 16,256 .09 11/2112002 18,28050 09/09/2002 (2,02441) 0.00 677.00 Laboncloc 10,807 .70 11121/2002 16,146.45 05/13/2002 (5,33875) 0.00 44300 Sharper Image Corp 8,791 .38 11/21/2002 10,37373 11/05/2002 (1,582.35) 000 444.00 Tractor Supply Co 19,277 .89 11/21/2002 17,49018 IQtl7/2002 1,787.71 000 24000 Avid Technology Inc. 4,49986 1112212002 3,818 16 11/04/2002 681 .70 000 59100 Fri Consulting Inc. 21,448 .87 11/22/2002 21,721 .91 07/25/2002 (273 .04) 000 889.00 Headwaters Inc 14,988 .08 11/2212002 13,343 .36 03114/2002 1,644.72 0.00 592.00 Odyssey Healthcare Inc. 19,949 .79 11122/2002 18,89256 10/08/2002 1,057.23 0.00 444.00 California Pizza Kitchen Inc 10,98866 11/25/2002 11,779 .90 10/2412002 (79124) 0.00 733.00 Cyberonics 12,827 .10 1 1 t25/2002 14,381 .24 09/09/2002 (1,554 .14) 0.00 600 Cyberonics 105.00 11/25/2002 10680 10/02t2002 (1 .80) 000 304.00 Wilson Greathatch Tech Inc 8,937.33 11/25/2002 8,425.36 09130/2002 511 .97 000 14000 Wilson Greathatch Tech Inc 4,115.87 11/25/2002 4,031.51 10/0212002 9436 0.00 296.00 K-Swiss Inc. - Cl A 7,550.73 1 IM/2002 7,834.02 1&125/2002 (283.29) 0.00 449.00 Quiksilver Inc. 12,356.10 11/2512002 10,305 .72 08/30/2002 2,050.38 000 887 .00 Exact Sciences Corp 11,770.13 1 1/26t2OO2 15,291 .61 0612712002 (3,521 .48) 0.00 306.00 Wilson Greathatch Tech Inc. 8,656.35 11/2612002 8,471.06 08/30/2002 185 .29 0.00 285.00 Wilson Greatbatch Tech Inc. 8,06229 11/2612002 7,898.78 09/3012002 16351 0.00 297.00 Anteon Intemational Corp 6,608.88 11127/2002 7,710.80 09125/2002 (1,101 .92) 0.00 44300 Anteon hiternational Corp 9,85769 11/27/2002 12,090.36 09126t2002 (2,232.67) 000 1 .00 Eon Labs Inc 23.42 11/27/2002 20.93 09/11/2002 2.49 0.00 739.00 Eon Labs Inc 17,308 .18 11/27/2002 17,473 .66 10/17/2002 (165.48) 0.00 1,373.00 Exact Sciences Corp 17,83472 11/27/2002 23,670.11 06/27/2002 (5,835 .39) 0.00 1,045.00 Headwaters Inc 16,790.45 11/2712002 15,694.82 03114r2OO2 1,10563 0.00 143 .00 Htimcane Hydrocarbons-Cl. A 1,34630 11/27/2002 1,432.66 08/27/2002 (86 .36) 0.00 44400 Tesco Corp ADR 4,324.42 11/2712002 4,781.26 02/2112002 (456 .84) 0.00 1,77800 Tnquint Semiconductor 10,563 .83 11/27/2002 12,231 .93 11/21/2002 (1,668.10) 000 104 .00 Coinstar Inc 2,517.90 11129/2002 3,246.29 11/0612002 (728 .39) 000 230.00 Exact Sciences Corp 2,838.11 11/29/2002 3,965.13 06/27/2002 (1,127 .02) 0.00 263.00 Hurricane Hydrocarbons-CI A 2,531.58 11/2912002 2,634.89 08/27/2002 (103 .31) 0.00 739.00 J2 GLOBAL COMMUNICATIONS INC 16,272 .28 11/29/2002 16,042.95 09/15/2002 229 .33 0.00 369.00 Kronos Inc. 16,955 .03 11/29/2002 13,85226 11/01/2002 3,102.77 000 133.00 Tesco, Corp ADR 1,308.68 11/29/2002 1,432.22 02t2l/2002 (12354) 0.00 972.00 Tnquint Semiconductor 5,92901 11/29/2002 6,686.97 11/21/2002 (757 .96) 0.00 17100 Exact Sciences Corp 2,070.74 12/0212002 2,947.99 06(2712002 (877 .25) 0.00 176.00 Wilson Greadiatch Tech Inc. 5,04306 12/02/2002 4,872.24 08/30/2002 17082 000 416.00 Wilson Greathatch Tech Inc. 11,919 .95 12/0212002 11,294 .03 09/0312002 625 .92 0.00 12i.00 Humcane Hydrocarbons-CI A 1,108.79 12tO2/2002 1,21225 OV27/2002 (10346) 000 160.00 J2 GLOBAL COMMUNICATIONS INC 3,451 .69 I2102t2002 3,148.80 0810912002 30289 0.00 594.00 12 GLOBAL COMMUNICATIONS INC 12,598 .66 12/02/2002 12,67806 08/1512002 (79 .40) 000 111.00 Boston Beer Company Inc. - Cl. A 1,66516 1210212002 1,934.75 11/1312002 (269 .59) 0.00 347 .00 Tractor Supply Co 15,021 .17 1210212002 5,80935 12118/2001 9,211 .82 000 Driehaus Capital Management Friday January 23, 2004 16:50.14 Page 4 Gains ai~d Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RBD FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Descrivtion Proceeds Date cost Date Gain (- Loss) Premium Discount)

98.00 Tractor Supply Co 4,242.29 12/02/2002 3,860.45 10117/2002 381 .84 0.00 1,477.00 Western Digital Corp. 12,784.08 12/02t2002 11,730 .04 11/14/2002 1,054.04 0.00 739.00 Documentum, Inc. 13,037.04 12/03/2002 13,424 .23 11/04/2002 (387.19) 0.00 887.00 Interdigital Comm Corp 15,90280 12/0312002 14,259 .32 11/21/2002 1,64348 0.00 868.00 Skyworks Solutions Inc 9,067.80 12/03/2002 5,586.08 10/3012002 3,481.72 0.00 1,479.00 Western Wireless Corp . - Cl. A 8,900.93 1210312002 10,61611 11121/2002 (1,715.18) 0.00 296.00 Zoran Corp. 6,408.20 12/03/2002 5,225.20 11121/2002 1,183.00 0.00 518.00 Altins Inc 7,017.28 12/0412002 7,23361 11/0112002 (216.33) 000 355.00 Documentum Inc. 5,804.07 12/04/2002 6,407.89 11/1412002 (603.82) 0.00 77.00 Documentum Inc. 1,258.91 12/04/2002 1,393.09 11/15/2002 (134.18) 0.00 280.00 Wilson Greathatch Tech Inc. 7,629.76 12104/2002 7,601.75 09/03/2002 28 .01 000 371 .00 Hypenon Solutions Corp. 9,94249 12/04/2002 10,387 .37 11/14/2002 (4" .88) 0.00 1,773.00 Mentor Graphics Corp. 15,727 .98 12/04/2002 19,908 .13 11/1412002 (4,18015) 0.00 1,183.00 Mentor Graphics Corp. 10,494 .19 12/04/2002 13,935 .74 1112112002 (3,"1 .55) 0.00 592.00 Photon Dynamics Inc 18,526 .38 12/04/2002 20,916.01 11127/2002 (2,38963) 0.00 207 .00 Boston Beer Company Inc. - Cl. A 2,987.37 1210412002 3,512.79 11/12/2002 (525 .42) 0.00 25800 Boston Beer Company Inc. - Cl A 3,723.39 12/04/2002 4,496.99 11/13/2002 (773 .60) 0.00 591 .00 Skyworks Solutions Inc 5,653.68 12104/2002 3,80343 10/30/2002 1,850.25 0.00 1,185.00 Western Digital Corp 9,12067 12/04/2002 8,210.39 11/01/2002 910.28 0.00 4.00 MEMC Electronic Materials 3289 12104/2002 31 .63 11/14/2002 126 0.00 1,478.00 MEMC Electronic Materials 12,151 .15 12/0412002 11,755.42 11/18/2002 39573 0.00 1,182.00 Zoran Corp. 22,678 .94 12/04/2002 20,865.49 11/2112002 1,813.45 0.00 518 .00 Altins Inc 6,831.48 12/05/2002 7,233.61 11/0112002 (402 .13) 0.00 200 Docurnenturn Inc. 34.28 12/05/2002 35.35 11/06/2002 (1.07) 0.00 307 .00 Docurnenturn Inc. 5,262.67 12/0512002 5,54147 11/14/2002 (278 .80) 0.00 216 .00 Gymboree Corp 4,148.74 12105/2002 4,292.01 10125/2002 (143 .27) 0.00 211 .00 Gymboree Corp 4,052.70 12/05/2002 4,248.49 10/28/2002 (195 .79) 0.00 150.00 Hypenon Solutions Corp 4,160.87 12/05/2002 4,18481 11/04/2002 (23 .94) 0.00 72.00 Hyperion Solutions Corp . 1,997.22 12/05/2002 2,015.88 11/14/2002 (18 .66) 0.00 443 90 Mentor Graphics Corp. 3,816.28 12105/2002 4,59382 11/0112002 (777 .54) 0.00 1 .00 Mentor Graphics Corp. 8.61 12/05/2002 11.23 11/14/2002 (2.62) 0.00 17.00 Skyworks Solutions Inc 169.33 12/05/2002 109.40 1013012002 59.93 0.00 74100 Viasat Inc 7,849.32 12/05/2002 8,972.62 11/27/2002 (1,123 .30) 0.00 741 .00 MEMC Electronic Materials 6,187.16 12/05/2002 5,859.09 11/14/2002 328.07 0.00 551 .00 Allen Telecom Inc. 5,234.34 12/0V2002 4,44145 11/14/2002 792.89 0.00 72900 J2 GLOBAL COMMUNICATIONS INC 13,136 .18 12/06/2002 14,346 .72 08/09/2002 (1,210 .54) 0.00 266.00 Mentor Graphics Corp. 2,258.70 12/06/2002 2,758.37 11/01/2002 (499 .67) 0.00 734.00 MEMC Electronic Materials 6,237.19 12106(2002 5,803.74 11/14/2002 433.45 0.00 6.00 MEMC Electronic Materials 50.99 12/0612002 4673 11/15/2002 4.26 0.00 740.00 Apphed Films Corp . 13,19010 12109/2002 13,978 .30 11/25/2002 (788 .20) 0.00 586.00 Anteou International Corp 13,384 .01 12/09/2002 15,213 .91 09125/2002 (1,829 .90) 0.00 177 .00 Mentor Graphics Corp 1,43896 12109r2002 11,835 .45 1 11.1011r.002 (396 .49) 0 (w)

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Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 5 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

592.00 Netscreen Technologies 9,30400 12109/2002 9,53209 11/14/2002 (228 .09) 000 887 .00 Netscreen Technologies 13,940.29 12/09/2002 14,29693 11/21/2002 (356.64) 0.00 163 .00 Boston Beer Company Inc - Cl. A 2,41232 12/0912002 2,766.11 11/12/2002 (353 .79) 000 416.00 Venat Systems Inc 6,791.41 12/09/2002 5,783.81 11/1912002 1,007.60 0.00 46500 Vennt Systems Inc 7,59136 12109/2002 6,83903 11/20/2002 75233 0.00 154.00 Vennt Systems Inc 2,514.13 12/0912002 2,34681 11/21/2002 16732 000 1,037.00 Vensity lid 18,335.88 12/09/2002 22,443 .27 11/27r2OO2 (4,107 .39) 000 296.00 K-Swiss Inc. - Cl A 6,75303 12/10/2002 7,83402 10/25/2002 (1,080.99) 0.00 593.00 K-Swiss Inc. - Cl. A 13,52888 12/10/2002 16,03389 12102/2002 (2,505.01) 0.00 739.00 Hutchinson Tech 16,811 .74 12111/2002 14,595 .25 10/18/2002 2,216.49 0.00 401.00 K-Swiss Inc. - Cl A 9,00618 12/11/2002 7,45599 09/13/2002 1,550.19 0.00 147.00 K-S%viss Inc. - Cl. A 3,30152 12/11/2002 3,890.55 10/2512002 (58903) 0.00 1,191.00 American Pharmaceutical Part 20,552.10 12/13/2002 18,414 .17 08/30/2002 2,137.93 0.00 292.00 American Pharmaceutical Part 5,038.80 12/1312002 5,07481 09/26/2002 (36.01) 0.00 443.00 Interdigital Comm Corp 6,66469 12/13/2002 6,241 .87 11/06/2002 42282 0.00 296.00 loterdigital Comm Corp 4,453.15 12/13/2002 4,758.47 11/21/2002 (30532) 0.00 643 .00 Kenneth Cole Productions 13,650 .41 12/13f2002 14,74772 07/25/2002 (1,097 .31) 0.00 592.00 Netscreen Technologies 9,070.76 12/13/2002 8,854.13 11/0412002 216.63 000 147 .00 Netscreen Technologies 2,252.37 12/13/2002 2,366.92 11114r2OO2 (114.55) 000 336.00 Skyworks Solutions Inc 3,21485 12/13f2OO2 2,11149 1012412002 1,103.36 000 1,878.00 Skyworks Solutions Inc 17,96872 12/13/2002 12,08602 1013012002 5,882.70 0.00 739.00 Western Wireless Corp . - Cl A 4,360.90 12/1612002 5,304.47 11/21/2002 (943.57) 0.00 1,480.00 Western Wireless Corp . - Cl. A 8,73361 12/16/2002 10,167 .60 11/27/2002 (1,433 .99) 0.00 191.00 Eon Labs Inc 3,772.82 12/17/2002 3,998 18 09/11/2002 (22536) 0.00 296.00 Sharper Image Corp 4,827.94 12/17/2002 6,931 .43 11/05/2002 (2,103 .49) 0.00 592.00 Sharper Image Corp. 9,655.88 12117/2002 12,538 .56 12/0212002 (2,88268) 0.00 150.00 Alliance Gaming Corp . 2,53189 1211812002 2,472.46 10/17/2002 59.43 0.00 887.00 Alliance Gaming Corp. 14,971 .92 12/18/2002 15,788 .78 1 Or2l/2002 (816 .86) 000 442.00 American Woodmark Corp. 22,276 .12 12/18/2002 23,160 .80 08/26t2OO2 (88468) 0.00 390.00 Boston Communications Gr 5,079.20 12/1812002 5,484.61 11/25/2002 (405 .41) 0.00 374.00 K-Swiss Inc. - Cl. A 8,639 13 1211 8r2002 6,953.97 09/13/2002 1,685.16 0.00 2,271 .00 Skyworks Solutions Inc 20,076 .38 1211812002 14,271 .39 10/24/2002 5,804.99 0.00 1,030.00 Western Digital Corp . 6,519.70 12/18/2002 7,13646 11/01/2002 (61676) 0.00 1,473.00 MEMC Electronic Materials 12,010 .77 12/18/2002 11,472 .90 1111512002 537 .87 000 444.00 Winnebago Industries 18,647 .43 12tl8/2002 22,213 .32 11/2212002 (3,565 .89) 000 349.00 Boston Com unocations Gr 4,571 .62 12/19/2002 4,90802 If/25/2002 (336.40) 000 457.00 Cyberonics 7,60425 12/19/2002 7,882.70 09/15/2002 (27845) 000 431.00 Cyberonics 7,17162 12/19/2002 7,671 .80 10t0212002 (500.18) 000 681.00 Skyworks Solutions Inc 5,736.63 12/19/2002 4,279.53 10/24/2002 1,457.10 0.00 1,481 .00 TiVo Inc 6,851.38 12119/2002 11,029 .75 11/27/2002 (4,178 .37) 0.00 3.00 United Online Inc 45.91 12119/2002 4655 11/1512002 (0.64) 0.00 1,477.00 United Online Inc 22,605 .39 12/19/2002 24,18159 12/10/2002 (1,576.20) 0.00 Driehaus Capital Management Friday January 23, 2004 16:50.14 Page 6 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Guantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

850.00 Neoware Systems Inc 12,947.57 12120/2002 13,459 .33 10/22/2002 (511 .76) 0.00 887 .00 Neoware Systems Inc 13,511 .17 12/2012002 15,638 .61 11/08/2002 (2,127.44) 0.00 441 .00 Hyperion Solutions Corp. 11,822.85 1212312002 12,303 .33 11/04/2002 (480.48) 000 28300 Vennt Systems Inc 4,677.82 12123/2002 3,639.38 11/12/2002 1,038.44 0.00 444.00 Verint Systems Inc 7,339.05 1212312002 6,173.11 11/19/2002 1,165.94 0.00 1 .00 Gen-probe Inc 22.64 l2n4/2002 21 .54 11/13/2002 1.10 0.00 739.00 Gen-probe Inc 16,73075 12/2412002 17,66860 12/16/2002 (937 .85) 0.00 75500 Gyrnboree Corp 12,859.45 12124/2002 15,002.15 10/25/2002 (2,142 .70) 0.00 746.00 Lexar Media Inc. 4,214.77 12/24/2002 4,88503 11121/2002 (67026) 0.00 365 .00 Trex Corp 13,61408 1212412002 12,049.82 0625/2002 1,56426 0.00 224.00 Trex Corp 8,354.95 12/2412002 7,931.55 12110/2002 42340 0.00 302.00 Quiksilver Inc. 7,588.73 l2nAr2002 6,931.69 08/3012002 657 .04 0.00 444.00 Qwksilver Inc. 11,156 .94 12/24/2002 12,38285 11/27/2002 (1,225 .91) 0.00 740.00 CIM A Labs Inc. 17,809.71 12127/2002 21,670.83 1210612002 (3,861 .12) 0.00 368.00 Trex Corp 12,89547 12/27/2002 12,148.86 06/25/2002 74661 000 1,479.00 Western Wireless Corp . - Cl. A 7,935.12 12127/2002 8,453.82 11/1212002 (518 .70) 000 739.00 Western Wireless Corp . - Cl. A 3,96488 12/27/2002 4,227.45 11/13/2002 (262 .57) 000 1.00 Immucor Inc 20.04 12130/2002 20.10 lOtIO12002 (0.06) 0.00 739.00 IminucorInc. 14,812 .81 12/30/2002 15,445 .40 10tI 1/2002 (632 .59) 0.00 739.00 CIMA Labs Inc. 17,598 .15 1250/2002 20,907.27 11/20/2002 (3,309 .12) 0.00 1.00 CIM A Labs Inc. 23.81 1213012002 29.28 l2t06t2002 (5.47) 0.00 739.00 41ads Entertainment Inc 16,405 .30 1250/2002 21,208.71 10/21/2002 (4,803 .41) 0.00 2,219.00 Surebeam Corp . 8,777.48 12/30/2002 11,195.57 10(30/2002 (2,418 .09) 0.00 738.00 ImrnucorInc. 14,637 .26 1251/2002 14,831 .29 10/10/2002 (194 .03) 000 555.00 Rerni gton Oil & Gas Corp. 9,067.31 12/31/2002 9,65889 12/12/2002 (591 .58) 000 26900 Boston Communications Gr 3,221.88 01/02t2003 3,341.89 lQr24/2002 (120 .01) 0.00 71800 Boston Communications Gr 8,599.65 01/02/2003 10,091 .42 11/08/2002 (1,491 .77) 0.00 295.00 Boston Communications Gr 3,53328 01/0212003 4,148.61 11/25/2002 (615 .33) 0.00 1,894.00 Skyworks Solutions Inc 16,669 .69 01/06t2003 11,839.41 10/24/2002 4,830.28 000 1,478.00 Tuesday Morning Corp 25,834 .65 01/0612003 31,077.02 10/29/2002 (5,242 .37) 0.00 740.00 Vensity Ltd 10,914 .66 01/06t2003 14,615.00 12/31/2002 (3,700 .34) 0.00 1,564.00 Alliance Gaming Corp . 25,504 .78 01/07/2003 25,241 .87 09/11/2002 262.91 0.00 884.00 Alliance Gaming Corp . 14,415 .75 01/07/2003 14,571 .06 10/17/2002 (155 .31) 0.00 943 .00 Chat(em Inc. 15,575 .72 01/07/2003 14,200.04 06tl2/2002 1,375.68 0.00 987.00 Pinnacle Systems Inc 12,257 .28 01/07/2003 11,680 .65 06tlO/2002 576.63 0.00 347 .00 Pinnacle Systems Inc 4,309.30 01/0712003 4,006.22 06t 11/2002 303 .08 0.00 490.00 Pinnacle Systems Inc 6,085.17 01/07/2003 5,692.72 06tl4/2002 39245 0.00 370.00 Pinnacle Systems Inc 4,594.93 01/0712003 5,384.54 12/1=002 (78961) 0.00 732.00 Taro Pharmaceutical Indus. ADR 25,058 .60 01/07/2003 24,279.93 09/17/2002 778 .67 0.00 473.00 Chattern Inc. 8,130.01 01/0812003 7,967.52 06tl2t2002 162 .49 000 62300 Ultra Petroleum Corp ADR 5,59480 Ol/Oa/2003 5,082.93 09/09/2002 511 .87 000 9800 Ultra Petroleum Cor-r ADR 99008 01/0812003 817 .88 09/10/2002 6220 0.00

0 0 0 0 41 0 0 0 0

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680.00 Ultra Petroleum Corp ADR 6,106.69 01/08/2003 6,69025 12/09/2002 (583 .56) 0.00 796.00 Ultra Petroleum Corp ADR 7,148.42 01/08/2003 7,768 16 12/10/2002 (61974) 0.00 1,294.00 Aeroflex Inc. 9,381 .21 01/09/2003 10,13021 11/13/2002 (749 .00) 000 480.00 Aeroflex Inc. 3,479.89 01/0912003 3,936.00 11/14/2002 (456 .11) 000 134.00 Chattern Inc. 2,40254 01/09/2003 2,257.18 06/12/2002 145 .36 000 851 .00 Interdigital Comm Corp 12,59228 01/09/2003 11,99059 11/06/2002 60169 0.00 2,21900 Lexar Media Inc. 13,387 .96 01/09/2003 12,30880 11/18/2002 1,07916 000 733.00 Lexar Media Inc. 4,422.43 01/09/2003 4,79990 11/21/2002 (377 .47) 000 66600 United Therapeutics 10,768 .82 01/0912003 12,000.52 12/1212002 (1,231 .70) 000 52500 Caci International Inc -cl A 18,055 .78 01/10/2003 21,795 .27 10/30/2002 (3,739 .49) 000 399.00 Syntel Inc. 10,01460 01/1=003 8,019.90 11/18/2002 1,994.70 0.00 701.00 Syntel Inc. 17,594.56 01/10/2003 14,077 .97 12/1=002 3,516.59 0.00 43300 United Therapeutics 6,81157 01/10(2003 7,70078 11/21/2002 (88921) 0.00 7500 United Therapeutics 1,179.83 01/10/2003 1,351.41 12/12/2002 (17158) 0.00 140.00 CENTENE CORP 3,921.98 01/1412003 3,949.83 08/08/2002 (27 .85) 000 740.00 CENTENE CORP 20,73047 01/1412003 25,752-96 12124/2002 (5,022.49) 000 878.00 Cyberomcs 15,394.73 01/14/2003 15,14445 08/15/2002 25028 000 643.00 Blue Rhino Corp . 10,867 .33 01/1412003 10,891 .97 10/17/2002 (24.64) 000 34200 Blue Rhino Corp . 5,780.14 01/14/2003 5,874.16 10/2812002 (9402) 0.00 72400 Possis Medical Inc. 12,85061 01/1512003 11,52803 11/21/2002 1,32258 000 740.00 Possis Medical Inc. 13,134.60 01/15/2003 13,301 .65 1213=002 (167.05) 000 1,446.00 Lexar Media Inc. 7,82429 0111612003 6,255.93 07129/2002 1,568.36 000 0.00 2,217.00 Lexar Media Inc. 11,996.17 01/16/2003 12,297 .70 11/18/2002 (301 .53) 1,13600 Omni vision Technologies 17,495.57 01/16/2003 20,126 .17 12/02/2002 (2,630.60) 000 329.00 Omnivision Technologies 5,06694 01/1612003 6,199.45 12/11/2002 (1,132.51) 0.00 740.00 Blue Rhino Corp. 11,775 .04 01/1612003 11,528 .53 09/1612002 246.51 000 144.00 Blue Rhino Corp. 2,291 .36 01/1612003 2,287.09 09/1712002 427 0.00 187.00 Blue Rhino Corp. 2,975.58 01/16/2003 3,167.65 10/17/2002 (192 .07) 000 758.00 Lexar Media Inc. 3,562.77 01/17/2003 3,279.39 07/2912002 283 .38 000 2,209.00 Lexar Media Inc. 10,382 .81 01/17/2003 9,12299 09/0912002 1,259.82 000 1,46300 Netscreen Technologies 25,474 .59 01/17/2003 27,24881 01/03/2003 (1,77422) 000 1 A 2,19500 RSA Security Inc 14,64020 01/17/2003 ~,562 97 1 Ir.1/2002 77 .23 000 47300 Syntel Inc. 10,56650 01/17/2003 9,334.23 11/15/2002 1,23227 000 3900 Syntel Inc. 871 .23 01/1712003 783 .23 12/10/2002 88 00 0.00 72400 United Online Inc 11,388 .97 01/17/2003 10,590.74 11/07/2002 798.23 000 736.00 United Online Inc 11,57774 01/17/2003 11,421 .47 11/15/2002 15627 000 733.00 Immucor Inc. 14,33264 01/21/2003 18,30433 01/1412003 (3,971 .69) 000 147.00 Cyberonics 2,383.14 01/21/2003 2,53557 08/15/2002 (152 .43) 000 739.00 Cyberonics 11,98052 01/2112003 12,304.35 10/30/2002 (32383) 000 409.00 Espeed Inc Cl A 7,153 19 01/21/2003 6,990.38 1211212002 162.81 0.00 617.00 Espeed Inc C1 A 10,79100 01/21/2003 11,357.06 01/03/2003 (56606) 0.00 1,479.00 Harvest Natural Resources 7,286.67 01/21/2003 10,873 .90 11/0612002 (3,587 .23) 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 8 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Descriotion Proceed Date cost Date Gain (- Loss) Pren-dum Discount)

201 .00 Harvest Natural Resources 990.28 01/21/2003 1,455.82 11/19/2002 (465 54) 0.00 515.00 Harvest Natural Resources 2,537.28 01/21/2003 3,978.68 11/20/2002 (1,441 .40) 000 367 .00 Hyperion Solutions Corp. 10,569 .28 01/21/2003 11,545 .82 01/09/2003 (976.54) 0.00 282.00 Cray, Inc 1,983.51 01/22/2003 2,091.59 12/1212002 (108 .08) 0.00 42000 Cray, Inc 2,954.16 01/22/2003 3,12404 12/1612002 (16988) 0.00 2,960.00 Cray,lnc 20,819.81 01/22/2003 23,499 .44 12/31/2002 (2,679 .63) 000 740.00 Merit Medical Systems Inc. 13,84498 01/2312003 15,606.60 01/02/2003 (1,761 .62) 0.00 581 .00 Taro Pharmaceutical Indus. ADR 19,968 .89 01/23/2003 17,13729 07/2912002 2,831.60 0.00 4.00 Taro Pharmaceutical Indus. ADR 137.48 01/2312003 132 .68 09/17/2002 4.80 000 579.00 Vendian Corp 11,365.42 01/23/2003 12,189 .22 06119/2002 (823 .80) 0.00 294.00 Verint Systems Inc 5,425.12 01/23/2003 3,652.24 11/12/2002 1,772.88 0.00 887 .00 Vennt Systems Inc 16,943 .93 01/2312003 19,682 .53 01/02/2003 (2,73860) 0.00 401 .00 Espeed Inc Cl A 6,226.30 Olr2412003 6,299.59 11/25/2002 (73 .29) 0.00 742.00 Espeed Inc CI A 11,520.98 01/24/2003 12,116 .12 12/02r2OO2 (595 .14) 0.00 175.00 Espeed Inc CI A 2,717.21 01/2412003 2,991.00 12/12/2002 (273.79) 0.00 76Z.00 RSA Security Inc 4,365.36 010A/2003 5,05557 11/21/2002 (69021) 000 2,21800 RSA Security Inc 12,706.53 01/24/2003 14,460 .25 01/02/2003 (1,753 .72) 0.00 230.00 Federal Agric Mtg Corp Cl C 6,443.14 01/27/2003 7,154.20 10/30/2002 (711 .06) 0.00 73200 Federal Agric Mtg Corp CI C 20,505.99 01/27/2003 26,553 .30 01/07/2003 (6,047.31) 0.00 732.00 Avid Technology Inc. 14,328 .83 01127/2003 16,740 .84 01123/2003 (2,41201) 000 1,034.00 California Pizza Kitchen Inc 23,781 .28 01/27/2003 27,433 .36 1012412002 (3,652 .08) 000 2,935.00 Legato Systems Inc 14,563 .18 01/27/2003 17,890 .20 01/10/2003 (3,327 .02) 0.00 296.00 Mothers Work Inc. 8,844.21 01/27/2003 12,10640 11/05/2002 (3,262 .19) 0.00 44000 Safenet Inc. 11,654 .23 01/27/2003 13,244 .84 01/10/2003 (1,59061) 0.00 88800 Sharper Image Corp 13,628 .43 01/27/2003 18,807 .84 12/02/2002 (5,179 .41) 0.00 2,338.00 Surebeant Corp. 8.860.62 0112712003 10,90338 10/29/2002 (2,042 .76) 000 588.00 Surebeam Corp. 2,228.42 01/27/2003 2,96665 10/30/2002 (738.23) 000 607.00 Syntel Inc. 13,221 .33 01/27/2003 11,978 .60 11/15/2002 1,242.73 000 551 .00 United Therapeutics 8,512.69 01/27/2003 9,428.22 09/20/2002 (91553) 000 617.00 United Therapeutics 9,532.36 01/27/2003 10,973 .16 11/21/2002 (1,44080) 0.00 732.00 UTI Worldwide Inc. 16,140 .11 01/27/2003 19,026.88 12/20/2002 (2,886,77) 0.00 728.00 Activeard Corp 5,423 .94 01128/2003 5,57743 10/21/2002 (153 .49) 0.00 592.00 Actjvcard Corp 4,410.68 01128/2003 4,79514 11/05/2002 (394.46) 0.00 447.00 Activcard Corp 3,330.36 01/2812003 4,05992 11/06/2002 (729.56) 0.00 427.00 Federal Agric Mtg Corp Cl C 11,348 .46 01/28/2003 13,28192 10/30/2002 (1,93346) 0.00 294.00 Safenet Inc. 7,466.23 01/29/2003 8,849.96 01/10/2003 (1,38373) 0.00 147.00 Safenct Inc. 3,733.11 0 1 f2912003 4,351 .20 01/23/2003 (61809) 0.00 431 .00 Viasat Inc 4,757.32 01/2912003 5,21889 11/27/2002 (461 .57) 000 1,480.00 Viasat Inc 16,336 .03 01/29/2003 18,241 .00 12/20/2002 (1,904.97) 000 1,703.00 CompuCom Systems Inc. 7,437.70 01/30/2003 10,10083 09/25/2002 (2,663 13) 0.00 1,929.00 CompuCom Systems Inc. 8,424.73 01/30/2003 11,513.24 10121/2002 (3,08851) 000 37.00 CompuCum Systems Inc. 1.61 .59 OV130r-0003 22530 10/2) 2/200 02 (63 .71) 000

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Sale Purchase Realized Unamortized Bond Guanti Security Description Proceeds Date Cost Date Gain (- Loss) Prernium Discount 73700 Documentum Inc. 10,570 .53 01/30/2003 13,025.96 11/06/2002 (2,45543) 000 444.00 Fhr Systems Inc 20,600.97 01/30/2003 22,43421 01/02/2003 (1,833.24) 0.00 444.00 Flit Systems Inc 20,60097 01/30/2003 22,937 .04 01/0312003 (2,336.07) 000 2,225.00 Cray, Inc 14,598 .52 01/31/2003 10,746.90 10/28/2002 3,85162 0.00 41000 Cray, Inc 2,69006 01/3112003 2,081 .32 10/29/2002 608.74 000 944.00 Cray, Inc 6,193.71 01/31/2003 5,014.81 10/30/2002 1,178.90 000 829.00 Cray, Inc 5,439.18 01/3112003 6,14869 12/1212002 (709.51) 0.00 14200 Applied Films Corp. 2,098.91 0210312003 1,893.12 10/1812002 205.79 000 74000 Applied Films Corp. 10,937 .97 02/03/2003 13,97830 11/25/2002 (3,040.33) 0.00 9.00 Medicines Company 14273 02/03/2003 148.68 11/22/2002 (5.95) 0.00 731.00 Medicines Company 11,593.16 02103/2003 12,436 .65 01/10/2003 (843.49) 0.00 152.00 Medicines Company 2,410.62 02/03/2003 2,74442 01/IV2003 (33380) 0.00 27-00 Medicines Company 428.20 02103/2003 490.59 01/15/2003 (62.39) 000 552 00 Medicines Company 8,754.34 02/03/2003 10,10160 01/15/2003 (1,347.26) 000 562.00 United Therapeutics 8,422.04 02/03/2003 9,236.02 09/11/2002 (813.98) 000 185.00 United Therapeutics 2,772.38 02103/2003 3,165.55 09/20/2002 (393.17) 0.00 212.00 Amencan Pharmaceutical Pan 4,870.57 02/04/2003 4,50644 01/17/2003 364.13 0.00 376.00 Amencan Pharmaceutical Part 8,63838 02/04/2003 9,096.64 01/21/2003 (45826) 0.00 409.00 Biosite Diagnostic Inc 13,587.63 02/04/2003 15,95080 01/15/2003 (2,363.17) 000 33.00 Biosite Diagnostic Inc 1,096.31 02104/2003 1,283.03 01/16/2003 (186.72) 0.00 1,066.00 CENTENE CORP 25,941 .28 02/04/2003 30,075.16 08/0&-2002 (4,133.88) 000 67.00 Martek Biosciences Corp 1,494.70 02/0412003 1,529.65 11125/2002 (34.95) 000 376-00 Martek Biosciences Corp 8,388.19 02104/2003 9,79920 1212312002 (1,411 .01) 0.00 738.00 Possis Medical Inc. 14,444.21 02/04/2003 14,568.12 01/29/2003 (12391) 0.00 2,208.00 Sma Corp 16,496 .12 02/04/2003 15,438 12 12/23/2002 1,05800 0.00 427.00 Viasat Inc 4,526.06 02/04/2003 4,349.72 11/0612002 176.34 0.00 309.00 Viasat Inc 3,275.30 02/0412003 3,74162 11/27/2002 (466.32) 000 589-00 Kensey Nash Corp 10,549 .91 02/05/2003 11,80356 01/22/2003 (1,253.65) 0.00 91200 Vennt Systems Inc 14,192 .75 02/05/2003 11,72832 11/12/2002 2,464.43 0.00 1900 OMI Corp. - New 8399 02/0612003 84 21 01/06/2003 (0.22) 0.00 2,944-00 OM I Corp. - New 13,013 .87 02/0612003 13,767.56 01/09/2003 (753.69) 0.00 629-00 Netease com Inc. ADR 8,642.32 02107/2003 7,554.67 12/20/2002 1,087.65 O.W 611.00 Taro Pharmaceutical Indus ADR 18,853 .42 02/07/2003 18,022 18 07/29/2002 831.24 000 228.00 Biosite Diagnostic Inc 7,29422 02/10/2003 8,23053 12/2312002 (946.31) 0.00 14400 Biosite Diagnostic Inc 4,600.56 02/1012003 5,598.66 01/1612003 (998.10) 0.00 75600 Hecla Mining Co. 2,885.12 02/10/2003 3,811 .98 12/1612002 (926.86) 000 1,480-00 Hecla Mining Co. 5,648.12 02/10/2003 7,61460 12/17/2002 (1,966.48) 000 1,480-00 Hecla Mining Co. 5,648.12 02110/2003 8,036.40 12/2712002 (2,388.28) 0.00 740-00 Novasw Fud Inc 22,67076 02/10/2003 21,093.70 12/19/2002 1,577.06 0.00 439.00 Novastar Fid Inc 13,44928 02/10/2003 14,72845 01/30/2003 (1,279.17) 0.00 1000 Overstock.com Inc 138.68 02/10(2003 161.42 01/15/2003 (22.74) 0.00 733.00 Overstock.com Inc 10,165 .07 02/10/2003 12,717.04 01/1612003 (2,551 .97) 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 1 0 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FouNDATiON - EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date ~Cost Date Gain f- Less) Premium Discount)

446.00 Digene Corporation 6,908.33 02/11/2003 5,75465 02/05/2003 1,15368 000 1,077.00 Especd Inc C1 A 13,W 67 02/11/2003 16,91935 11 f25f2002 (3,07269) 0.00 1,490.00 Allen Telecom Inc. 18,628 .30 02/12/2003 16,783 .21 01/08/2003 1,84509 000 188.00 Advanced Neuromodulation Sys. 6,82419 02112/2003 7,162.80 01/09/2003 (338.61) 0.00 406.00- Advanced Neuromodulation Sys. 14,737 .35 02/12/2003 16,083.93 02103/2003 (1,346.58) 0.00 30900 Glamis Gold 1Ad 3,531 .05 0211212003 3,301 .79 12/1612002 22926 000 1,924.00 Glarnis Gold Ltd 22,057 .60 02/12/2003 21,440 .67 12/19/2002 61693 000 95.00 Possis Medical Inc. 1,67881 02/12/2003 1,45621 11/20/2002 22260 000 6400 Possis Medical Inc. 1,130.99 02/1212003 1,019.05 11/21/2002 111 .94 0.00 293 .00 Possis Medical Inc. 5,177.79 02/1212003 5,783.82 01129/2003 (60603) 000 752.00 Sina Corp 4,963.80 02/12/2003 5,257.91 12/23/2002 (294 .11) 0.00 326.00 Sina Corp 2,151 .86 02/12/2003 2,273.04 01/0212003 (121 .18) 0.00 783 .00 Viasat Inc 7,68068 02/1=003 7,976.19 11/06/2002 (295 .51) 0.00 1,464.00 Watchguard Technologies 9,505.60 02/l2f2003 13,205 .28 Olt23/2003 (3,699 .69) 0.00 466.00 Netscreen Technologies 8,275.07 02/1312003 9,27498 01/23/2003 (999 .91) 0.00 1,028.00 Netscreen Technologies 18,254 .87 02/13/2003 20,630 .11 01/29/2003 (2,375 .24) 0.00 851 .00 Netease com Inc. ADR 10,495 .82 02/13/2003 10,221 .02 12/20/2002 274.80 000 JA 00 Netease corn Inc. ADR 172 .67 021l3f2003 15961 1213 1 f2OO2 13.06 0.00 707.00 Sina Corp 4,068.73 0211312003 4,929.56 01102/2003 (86083) 0.00 86.00 Sohn com Inc. 555 .94 02/1312003 56017 12/23/2002 (423) 000 1,722.00 Sohn com Inc. 11,131 .69 02/13/2003 11,553 .59 01/02/2003 (421 .90) 000 424.00 Sohn corn Inc. 2,740.90 02J1312003 3,058.14 01/0312003 (317 .24) 0.00 219.00 United Online Inc 3,074.49 02/1312003 1,735.58 03/22/2002 1,338.91 0.00 388.00 United Online Inc 5,447.04 02/13/2003 3,112.42 03/2612002 2,33462 0.00 190.00 United Online Inc 2,667.37 02/1312003 2,779.34 1 1 /07/2002 (111 .97) 0.00 263.00 United Online Inc 3,692.20 =3/2003 3,80061 11/0812002 (10841) 000 736.00 United Online Inc 10,332.54 02113/2003 10,478 .73 01/29/2003 (146 .19) 0.00 488.00 Gen-probe Inc 11,813 .97 02/14/2003 13,249 .05 01/17/2003 (1,435 .08) 000 1,481.00 Compucredit 8,667.87 02/18/2003 11,936 .86 12/11/2002 (3,268 .99) 000 1,185 00 Glarats Gold Ltd 13,24256 0211=003 12,13440 12/1=002 1,10816 000 1,185.00 Glamis Gold Ltd 13,242.56 02/1812003 12,253 .97 12/13/2002 988.59 0.00 877 .00 Glamis Gold Lid 9,800.61 02/18/2003 9,401 .53 1211612002 399.08 0.00 1,481.00 Hecla Mining Co. 5,321.30 02/18/2003 7,020.36 12/12/2002 (1,699 .06) 000 2,220.00 Hecla Mining Co. 7,976.56 02/1&2003 10,822 .17 1211Y2002 (2,945 .61) 0.00 725 .00 Hecla Mining Co, 2,604.96 02/1812003 3,655.67 12/16(2002 (1,050.71) 0.00 5.00 Nam Tai Electronics Inc 146.76 02/18/2003 137 .65 01/0612003 9.11 000 44400 Nam Tai Electronics Inc 13,03203 02/18/2003 12,52249 01/07/2003 509.54 0.00 450.00 Pinnacle Systems Inc 5,188.30 0211812003 5,195.39 06111/2002 (7.09) 0.00 598 .00 Pinnacle Systems Inc 6,894.67 02/18/2003 6,494.40 09/16/2002 400.27 000 52.00 Allen Telecom Inc. 679 .65 02/19/2003 419.16 11/14/20(P- 260.49 000 704.00 Men Telecom Inc. 9,201 .35 0211912003 7,929.79 01/08/2003 1,271.56 0.00 325 .00 Avid Technology Inc. 7.116.86 02/19f2OO3 6,933.45 12/17f2002 283 .41 0.00

0 0 0 0 0 0 0 0 0 0 0 a 0 0

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49.00 Chicago Bridge & Iron-ny Shr 705.58 02/19/2003 800 .78 01/09/2003 (9520) 000 603.00 Chicago Bridge & Iron-ny Shr 8,682.99 02/19/2003 10,133 .84 02/1=003 (1,45085) 0.00 46100 Curative Health Services Inc. 7,481.43 02/19/2003 8,834.28 01/29/2003 (1,352.85) 000 1,60900 Danka Business Sys . - Spon. ADR 6,773.11 02/19/2003 8,437.27 01/15/2003 (1,66416) 000 57.00 Gen-probe Inc 1,42057 02/19/2003 1,377.55 12131/2002 43 02 000 97.00 Gen-probe Inc 2,41746 02/19/2003 2,633.52 01/17/2003 (21606) 000 14600 Gen-probe Inc 3,638.65 02/19/2003 3,880.24 01/21/2003 (241 .59) 0.00 346.00 Hyperion Solutions Corp. 9,202.14 02/19/2003 11,159 .88 01124/2003 (1,957.74) 000 45.00 Netscreen Technologies 886 .47 02/19/2003 838 .14 01/03/2003 48.33 0.00 182 .00 Netscreen Technologies 3,585.29 02/19/2003 3,622.42 01/23/2003 (37 .13) 0.00 277.00 Pacer International Inc 3,242.49 02/19/2003 3,90800 01/16/2003 (66551) 0.00 506.00 Pinnacle Systems Inc 5,612.78 02/1912003 5,49526 09/16t2002 11752 0.00 280.00 Rollins Inc. 8,51266 02119/2003 7,551.35 12/20/2002 961 .31 0.00 322.00 Red Robin Gourmet Burgers 4,436.79 02119/2003 4,867.58 01/16/2003 (43079) 0.00 335.00 Select Comfort Corp. 3,05848 02/19/2003 3,367.22 11/29/2002 (308 .74) 000 129 .00 Tesco Corp ADR 1,53150 02/19/2003 1,389-15 02121/2002 142.35 0.00 51200 Tesco Corp ADR 6,078.53 02/19f2OO3 6,707.00 02105f2003 (628A7) 0.00 229.00 Quiksilver Inc. 5,673.91 02/1912003 5,256.15 08/30/2002 417.76 0.00 1,647.00 Aflen Telecom Inc. 21,52579 02/20/2003 13,275 .97 11/1412002 8,249.82 000 2,959.00 Ashanti Goldfields - Spons. GDR 18,79809 02120/2003 19,527 .72 12/2712002 (729 .63) 0.00 711 .00 Avid Technology Inc. 15,357 .13 02120/2003 14,949.49 12/17/2002 40764 0.00 1,419.00 Chicago Bridge & Iron-ny Shr 20,818 .08 02/20/2003 23,189 87 01/09/2003 (2,371 .79) 0.00 2,197.00 Dank-a Business Sys . - Spon. ADR 9,317.96 02120/2003 10,77296 0110712003 (1,455 .00) 0.00 1,320.00 Dank-a Business Sys . - Spon. ADR 5,598.41 02/20/2003 6,92181 01/15/2003 (1,323 .40) 0.00 1,000.00 Energy Partners Ltd 10,226.08 02/2012003 11,303 10 01/23/2003 (1,077 .02) 000 29700 Gen-probe Inc 7,146.48 OY2=003 6,191 .89 11/13f2OO2 964.59 0.00 16500 Gen-probe Inc 4,10860 02120/2003 3,987.64 12/31/2002 12096 0.00 33300 Hurricane Hydrocarbons-Cl. A 3,599.72 02/20f2003 3,336.19 Ogr27/2002 26353 0.00 367-00 Hyperion Solutions Corp . 9,836.33 02120/2003 11,54582 01/09/2003 (1,709 .49) 000 388 .00 Hyperion Solutions Corp . 10,399 .17 02/20/2003 12,514 .55 01/2412003 (2,115 .38) 0.00 1,104.00 Pinnacle Systems Inc 12,364.42 02/2Ot2OO3 11,989 .66 09/16/2002 374 .76 000 46.00 Select Comfort Corp. 418 .82 0212012003 443.44 11/27/2002 (24.62) 0.00 701 .00 Select Comfort Corp. 6,382.48 02/2=003 7,04603 Il/29/2002 (663 .55) 000 337-00 Safenet Inc. 6,102.98 02120/2003 9,975.20 01/23/2003 (3,872 .22) 000 564.00 Tesco Corp ADR 6,67756 02/20/2003 5,940.78 02/20/2002 736.78 0.00 427 .00 Tesco Corp ADR 5,055.53 02/2012003 4,598.19 02121/2002 457.34 0.00 414.00 Tesco Corp ADR 4,901.61 02/20/2003 4,281 .75 02/22/2002 61986 0.00 632-00 Lendingtree Inc. 6,718.08 02/20/2003 9,971 .70 09/09/2002 (3,253 .62) 0.00 624.00 Lendingtree Inc. 6,633.04 02/2012003 9,628.32 01/3112003 (2,995 .28) 0.00 75400 United Online Inc 11,347 .27 0212012OD3 5,97545 03122r2002 5,371 .82 0.00 500-00 Quiksilver Inc. 12,453 .22 0212=003 11,476 .30 08/30/2002 976.92 0.00 22200 Energy Partners Ltd 2,253.10 02/21/2003 2,278.32 12/0612002 (25 .22) 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 12 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION - EMERGING GROWTH

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215.00 Energy Partners Ltd 2,182.05 02/21/2003 2,225.25 12/09/2002 (43 .20) 000 466.00 Energy Partners lid 4,729.48 02/21/2003 5,267.24 01/23/2003 (537 .76) 000 712.00 Harvest Natural Resources 4,153.61 02/21/2003 5,15694 11/19/2002 (1,003 .33) 000 313 .00 Lexar Media Inc. 1,284.17 02/2112003 1,388.37 02/18/2003 (10420) 0.00 2,282.00 OM I Corp . - New 10,084.26 02/21/2003 10,114 .25 01/0612003 (29.99) 0.00 192.00 Pacer International Inc 2,284.73 02/21/2003 2,708.79 01/16/2003 (424.06) 0.00 704 .00 Red Robin Gourmet Burgers 8,497.02 02/21/2003 10,642 .16 01/16/2003 (2,145 .14) 000 180.00 Select Comfort Corp. 1,603.28 02/21/2003 1,648.85 IIt26f2002 (45 .57) 0.00 842 .00 Select Comfort Corp. 7,499.80 02/21/2003 8,116.88 11/27/2002 (61708) 0.00 21.00 Safenet Inc. 38500 02/21/2003 621 .60 01/23/2003 (236.60) 0.00 348 .00 Lendingtree Inc. 3,755.26 02/21/2003 5,35871 09/11/2002 (1,603 .45) 0.00 411 .00 Lendingtree Inc. 4,435.09 0212112003 6,341 .73 01/3112003 (1,906.64) 0.00 527 .00 United Online Inc 7,781.34 02121/2003 4,17648 03/22/2002 3,604.86 0.00 271 .00 Activcard Corp 1,886.64 02/24/2003 2,076.21 10121/2002 (189.57) 000 22700 American Pharmaceutical Part 5,157.28 02/24/2003 4,825.29 01/17/2003 331 .99 0.00 17.00 Biosite Diagnostic Inc 544.83 02/24/2003 613.68 12/23/2002 (68.85) 000 625 .00 Lexar Media Inc. 2,408.79 02/24/2003 2,77230 02/1 &-2003 (363.51) 000 1,62500 OMI Corp . - New 7,047.32 02r24/2003 6,878.05 12/17/2002 169 .27 000 657 .00 OMI Corp. - New 2,849.29 02/2412003 2,911 .95 01/0&2003 (62.66) 0.00 131.00 Pacer International Inc 1,573.26 02/24/2003 1,848.19 01/1612003 (27493) 0.00 79.00 Select Comfort Corp. 704.65 02124/2003 723.66 11/26/2002 (19.01) 0.00 25.00 Safenet Inc. 446.98 02/24/2003 74000 01/23/2003 (293.02) 000 292.00 Activcard Corp 2,007.96 02/2512003 2,237.10 10/2112002 (229.14) 0.00 455 .00 Altiiis Inc 5,966.86 02/25/2003 6,893.25 01/02/2003 (926.39) 0.00 1,007.00 Curative Health Services Inc. 16,766.04 02125/2003 19,297 .44 01/29/2003 (2,531 .40) 000 91 .00 Gen-probe Inc 2,231.21 02125/2003 1,885.60 10128/2002 345 .61 0.00 451 .00 Gen-probe Inc 11,058 .00 02/25/2003 9,714.40 11/13/2002 1,343.60 0.00 639 .00 Lexar Media Inc. 2,40850 02/25/2003 2,834.40 02118/2003 (425.90) 000 1,484.00 OMI Corp . - New 6,454.74 02125/2003 6,28125 12/17/2002 17349 000 27900 Pacer International Inc 3,319.99 02/25/2003 3,936.22 01/1&2003 (616.23) 0.00 194.00 Rollins Inc. 5,985.20 02125/2003 5,23201 1212012002 753 .19 0.00 378 .00 WebMethods Inc. 4,179.45 02/25/2003 4,737.40 02118/2003 (557.95) 000 475 W Activcard Corp 3,277.40 02/26r2003 3,639.12 10121/2002 (36172) 000 739.00 Activcard Corp 5,099.94 02r26f2003 5,609.01 10122/2002 (510.07) 0.00 3700 Altins Inc 48247 02/2612003 51669 11/01/2002 (34.22) 000 1,024.00 Altins Inc 13,352.55 02/2612003 15,513 .60 01/02/2003 (2,161 .05) 0.00 193 .00 Eon Labs Inc 4,235.75 02/26/2003 4,257.62 01/28/2003 (2187) 000 109 .00 Eon Labs Inc 2,392.21 02/26/2003 2,588.98 01/31/2003 (196.77) 0.00 474.00 Gen-probe Inc 11,669.52 02/26r2003 9,821 .71 10/28/2002 1,847.81 0.00 152 .00 Martek Biosciences Corp 3,571.83 02/2612003 3,736-16 02/20/2003 (16433) 000 370.00 Select Comfort Corp. 3,266.45 02/26/2003 3,389.31 11/26t2002 (12286) 0.00 739 .00 Applied Films Corp. 11,043.57 02127/2003 9,373.33 10/17/2002 1,670.24 0.00 0 0 0

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500 Applied Films Corp . 74.72 0212712003 6666 l0tl8/2002 8.06 0.00 1,14600 Altins Inc 14,785 .13 02/27/2003 16,003 .32 11/01/2002 (1,218 .19) 0.00 237.00 Biosite Diagnostic Inc 7,445.41 02127/2003 8,105.57 12/16(2002 (66016) 0.00 199 .00 Biosite Diagnostic Inc 6,251.63 02t27/2003 7,183.66 12/23/2002 (932 .03) 0.00 170 .00 Gen-probe Inc 4,188.67 02/27/2003 3,522.55 10/28/2002 666.12 0.00 414.00 Rollins Inc. 12,982 .64 02/27/2003 11,165 .21 12120/2002 1,817.43 000 57.00 Safenet Inc. 938.16 02/27/2003 1,687.20 01/23/2003 (749 .04) 0.00 498.00 Sina Corp 3,293.77 02127/2003 3,472.31 01/02/2003 (178 .54) 0.00 87.00 Sma Corp 575 .42 0212712003 65846 02/18/2003 (83 .04) 0.00 326.00 Trex Corp 10,892 .37 02127/2003 10,76230 06r25/2002 13007 0.00 337 .00 United Online Inc 4,78225 02127/2003 2,670.73 03122t2OO2 2,111 52 0.00 151 .00 UTI Worldwide Inc. 3,685.19 02/27/2003 3,924.94 12/20/2002 (239 .75) 0.00 546.00 Advanced Neuromodulation Sys . 19,300.51 02/28/2003 20,802.60 01/09/2003 (1,502 .09) 0.00 503 .00 Biosite Diagnostic Inc 15,714.25 02/2&'2003 17,202.95 12/16t2002 (1,48870) 0.00 756.00 Microstrategy Inc-Cl A 14,416.48 02/28/2003 16,632.00 02/0312003 (2,215 .52) 0.00 30800 Remington Oil & Gas Corp . 5,799.28 02/2812003 5,533.40 01/09/2003 265 .88 000 738 .00 Remington Oil & Gas Corp . 13,89567 0212812003 14,08407 02/0412003 (188 .40) 000 58500 United Online Inc 8,245.15 02/28/2003 4,636.13 03122/2002 3,609.02 0.00 427 .00 Ultra Petroleum Corp ADR 3,89941 02t28/2003 3,48381 09/09/2002 41560 000 1,512.00 WebMethods Inc. 16,342.10 02t28/2003 18,949.59 02/1812003 (2,607 .49) 0.00 404.00 Harvest Natural Resources 2,181.21 03/03/2003 2,926.13 11/1912002 (74492) 0.00 2,255.00 Lexar Media Inc. 8,894.33 03/03/2003 10,002.46 02/1 &'2003 (1,108 .13) 0.00 185.00 Remington Oil & Gas Corp . 3,409.67 03/03/2003 3,21963 12/1212002 190.04 0.00 866.00 Remington Oil & Gas Corp . 15,960.93 03/03/2003 15,558 .21 01/09/2003 402 .72 0.00 378 .00 Sina Corp 2,32995 03/03/2003 2,63561 01/02/2003 (30566) 000 1,760.00 Sohu com Inc. 14,407.62 03/03/2003 14,838 .74 02/18/2003 (431 .12) 0.00 148 .00 United Online Inc 2,078.80 03/03/2003 1,172.90 0312212002 905 .90 0.00 1,154.00 Ultra Petroleum Corp ADR 10,15408 03/03/2003 8,60554 03/06/2002 1,548.54 000 1,895.00 Ultra Petroleum Corp ADR 16,674 .16 03/03/2003 15,460 .93 09/09/2002 1,213.23 0.00 590.00 Harvest Natui-aI Resources 2,805.89 03/0412003 4,273.31 11/19/2002 (1,467 .42) 0.00 456.00 Inet Technologies Inc 3,04028 03/04/2003 3,607.96 01/29/2003 (567 .68) 0.00 29900 !net Technologies Inc 1,993.52 03/0412003 2,37705 02/19/2003 (383 .53) 0.00 1,673.00 Range Resources Corp 9,369.68 03/MO03 10,29221 02/05/2003 (922.53) 000 99.00 Range Resources Corp 55445 03/04/2003 617.81 02124/2003 (63.36) 0.00 42.00 United Online Inc 574.92 03/04/2003 33285 03/22/2002 242 .07 0.00 634.00 Ultra Petroleum Corp ADR 5,59576 03/04/2003 4,727.83 03/06/2002 867 .93 0.00 89.00 Cray, Inc 612.96 03/05/2003 729.42 02/25/2003 (11646) 0.00 516.00 Cray, Inc 3,55379 03/05/2003 4,296.27 02126/2003 (74248) 0.00 451.00 Cray,lnc 3,106.12 03/0512003 3,784.21 02/27/2003 (678 .09) 0.00 755.00 Cray, Inc 5,199.82 03/05/2003 6,627.77 02t2812003 (1,427 .95) 0.00 1,012.00 Inet Technologies Inc 6,512.83 03/0512003 8,007.15 01/29/2003 (1,494.32) 0.00 151.00 Inet Technologies Inc 971 .78 03/05/2003 1,192.90 02t24/2003 (221 .12) 000 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 14 Gains and Loss Reportfi-om 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouanti Security Descriptio Proceeds Date Cost Date Gain (- Loss) Premium Discount)

302.00 Inet Technologies Inc 1,94355 03/05/2003 2,340.50 02/26/2003 (39695) 0.00 51500 Netscreen Technologies 9,824.00 03/05/2003 7,70249 11/04/2002 2,121.51 000 1,035.00 Netscreen Technologies 19,743 .37 03/05/2003 18,07824 01102r2OO3 1,665.13 000 88.00 Netscreen Technologies 1,678.66 03/05/2003 1,639.03 01/03/2003 39.63 0.00 53400 Range Resources Corp 2,748.52 03/05/2003 3,285 14 02/05/2003 (53662) 000 27.00 Range Resources Corp 138 .97 03/0512003 163 .35 02/2612003 (24.38) 0.00 11 .00 United Online Inc 148 .80 03/0512003 87 .18 03/22/2002 6162 0.00 824-00 Ultra Petroleum Corp ADR 7,28434 03/05/2003 6,144.69 03/06/-2002 1,139.65 0.00 607.00 American Pharmaceutical Part 10,790 .49 03/06t2OO3 12,902 .88 01/17/2003 (2,112.39) 0.00 320.00 Eon Labs Inc 7,088 13 03/06/2003 6,698.53 09/1112002 389.60 000 726.00 Eon Labs Inc 16,081 .21 03/06/2003 16,015 .71 01/2&'2003 65 .50 000 166-00 Harvest Natural Resources 782.78 03/06t2OO3 1,202.32 11/19/2002 (41954) 0.00 15.00 Martek Biosciences Corp 331 .68 03/06/2003 36870 02/20/2003 (37 02) 0.00 3.00 Netscreen Technologies 56.10 03/06t2003 44.87 11/0412002 11.23 0.00 550-00 Nam Tai Electronics Inc 13,389.18 03/0612003 15,14134 01106r2003 (1,752.16) 0.00 300 United Online Inc 40.68 03/06/2003 23 .78 03/22/2002 1690 0.00 79000 Ultra Petroleum Corp ADR 7,007.95 03/0612003 5,891 14 03/06/2002 1,116.81 0.00 1,464.00 WebMethods Inc. 14,143.42 03/06/2003 17,968 .70 01/23/2003 (3,825.28) 0.00 997.00 WebMethods Inc. 9,631.82 03/06/2003 12,013 .85 02/1412003 (2,382.03) 0.00 106 .00 WebMethods Inc. 1,024.05 03/0612003 1,328.48 02/1812003 (304.43) 000 605.00 Able Laboratories Inc 6,862.48 03/07/2003 8,104.40 02118/2003 (1,241 .92) 0.00 151 .00 Able Laboratories Inc 1,712.78 03/07/2003 2,313.40 03/0312003 (600.62) 0.00 276.00 Harvest Natural Resources 1,232.30 03/07/2003 1,999.04 11/19/2002 (766.74) 0.00 28-00 Martek Biosciences Corp 610.66 03/07/2003 688.24 02/20/2003 (77.58) 0.00 2,252.00 Micromuse, Inc. 11,775.79 03/07/2003 13,965 .61 02/1 V2003 (2,18982) 0.00 30700 Able Laboratories Inc 3,215.57 03/1012003 4,112.48 02/18/2003 (89691) 0.00 93-00 Harvest Natural Resources 444.98 03/10/2003 673.59 11/19/2002 (228 .61) 0.00 93-00 Martek Biosciences Corp 2,039.42 03/10/2003 2,285.94 02/20/2003 (246.52) 0.00 1,124.00 Nficromuse, Inc. 5,703.00 03/10/2003 6,970.40 02/18/2003 (1,267 .40) 0.00 440.00 Micromuse, Inc. 2,232.49 03/10/2003 2,688.40 03/03/2003 (455 .91) 0.00 413 .00 Select Comfort Corp. 3,817.40 03/1012003 4,34497 02128/2003 (527 .57) 0.00 52.00 Able Laboratories Inc 548 .39 03/11/2003 696.58 02/18/2003 (148 .19) 0.00 1,64700 Micromuse, Inc. 7,429.12 03/1112003 9,831.27 02/20/2003 (2,402 .15) 000 14.00 Nlicromuse, Inc. 63 15 03/11/2003 85 .54 03/03/2003 (22 .39) 000 35000 Select Comfort Corp 3,210.17 03/1112003 3,682.18 02128/2003 (472 .01) 0.00 58200 Kensey Nash Corp 10,37331 03/1212003 11,663 .28 01/22/2003 (1,289 .97) 0.00 30200 Kensey Nash Corp 5,382.71 03/12/2003 5,841 86 02120/2003 (459 .15) 000 57.00 Select Comfort Corp. 493.86 03/12/2003 451 .34 10/1412002 4252 0.00 660.00 Select Comfort Corp. 5,718.33 03/1212003 5,585 25 10/15/2002 133 .08 0.00 850.00 Select Comfort Corp 7,36451 03/12/2003 7,786.26 11126/2002 (421 .75) 0.00 758.00 Select Comfort Corp 6,567.41 03/1212003 7,974.54 02128/2003 (1,407 .13) 0.00 65.00 Able LaboraEories Inc 761 .77 0 3 11 IT W 3 8111.1 .112 02,118f-1003 1% 108-95) 0.00

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Sale Purchase Realized Unamortized Bond Guantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

148 .00 Medicines Company 2,597.88 03/13/2003 2,444.90 11/2212002 15298 000 15~ 00 Medicines Company 2,668.10 03/13/2003 2,84419 02/2612003 (17609) 0.00 321 .00 Medicines Company 5,634.60 03/13/2003 5,90640 03/1 WOW (271 .80) 000 29.00 Select Comfort Corp. 269.69 03/13/2003 227.39 1 M 1/2002 42.30 0.00 1,366.00 Select Comfort Corp. 12,703 .41 03/13/2003 10,81626 10/1412002 1,887 15 000 500.00 Able Laboratories Inc 5,918.92 03/14/2003 6,697.85 02/18/2003 (77893) 0.00 513 .00 Energy Partners Ltd 5,525.66 03/1412003 5,26477 12/0612002 26089 0.00 260.00 Energy Partners Ltd 2,800.53 03/1412003 2,88080 03/10/2003 (80.27) 0.00 1,392.00 Select Comfort Corp 13,307 .11 03/14/2003 10,914 .53 10111/2002 2,392.58 0.00 773 .00 Stratasys Inc 7,82252 03/1412003 9,01666 03/03/2003 (1,194.14) 0.00 197.00 Verity Inc 3,108.52 03/14/2003 3,270.20 02/25/2003 (161 .68) 000 151 .00 Verity Inc 2,382.68 03/14/2003 2,512.64 02/26/2003 (129.96) 0.00 196 .00 Verity Inc 3,09274 03/14/2003 3,338.94 02/27/2003 (24620) 000 151 .00 Verity Inc 2,38268 03/14/2003 2,536.50 03/03/2003 (153 .82) 000 221 .00 American Pharmaceutical Part 4,351 67 03/18/2003 3,41690 08/30/2002 934 .77 0.00 44.00 American Pharmaceutical Part 86640 03/18/2003 93530 01/17/2003 (68.90) 000 894.00 Orasure Technologies Inc 5,83308 03/18/2003 7,518.54 02103/2003 (1,685 .46) 0.00 210.00 Orasure Technologies Inc 1,370.19 03/18/2003 1,68294 02/04/2003 (31275) 000 350.00 Oras ure Technologies Inc 2,283.65 03/18/2003 2,813.93 02/05/2003 (53028) 0.00 1,769.00 Looksmart LAd 3,521.76 03/19/2003 6,07875 01/2412003 (2,556.99) 000 589.00 Omm vision Technologies 13,322.59 03/1912003 10,557 .65 02/2012003 2,764.94 0.00 1,124.00 Cray,lnc 7,526.19 03/20/2003 8,66604 02120/2003 (1,139.85) 000 40.00 Cray,lnc 267.84 03/2012003 322 .10 02t2412003 (54.26) 0.00 58.00 Cray,lac 388.36 03/2012003 47535 02125/2003 (86.99) 0.00 5,177.00 Looksmart LAd 11,329.20 03/20/2003 15,87841 01/0612003 (4,549.21) 000 1,929.00 Looksmart Ltd 4,221.37 03/2012003 6,628.55 01/24/2003 (2,407 .18) 0.00 171.00 Possis Medical Inc. 2,803.10 03/20r2003 2,621 17 11/20/2002 181 .93 000 1,091.00 American Pharmaceutical Part 21,775 .70 03/21/2003 16,868 .06 08/30/2002 4,907.64 0.00 1,031.00 Eon Labs Inc 27,166.02 03/21/2003 21,05096 09/10/2002 6,115.06 0.00 31.00 Eon Labs Inc 816.83 03/21/2003 648.92 09/11/2002 167 .91 0.00 369.00 Energy Partners Ltd 3,616.94 03/21/2003 3,786.94 1210612002 (170.00) 0.00 236.00 Orasure Technologies Inc 1,616.55 03/2112003 1,891 .30 02/04/2003 (274.75) 0.00 150 .00 Orasure Technologies Inc 1,027.47 03/21/2003 1,127.50 02/19/2003 (10003) 000 1,316.00 Orasure Technologies Inc 9,014.32 03/21/2003 9,738.40 0212012003 (724.08) 000 688.00 Possis Medical Inc 11,688.76 03/21/2003 10,546 .01 11/20/2002 1,14275 000 206.00 Portfoho Recovery Associate 4,264.07 03/21/2003 4,989.51 02/11/2003 (725 .44) 0.00 123 .00 Energy Partners Ltd 1,189.37 03/2412003 1,26231 12/06/2002 (72 .94) 0.00 284.00 Maverick Tube Corp 4,773.95 03/24/2003 4,572.09 02/11/2003 20186 000 227.00 Maverick Tube Corp 3,815.79 03/2412003 4,018.58 02/25/2003 (202 .79) 0.00 183 .00 Portfolio Recovery Associate 3,664.98 03/24/2003 4,43242 02/11/2003 (767 .44) 0.00 230.00 Portfolio Recovery Associate 4,606.25 03/2412003 5,388.79 02/12/2003 (782 .54) 0.00 70.00 Cray,lnc 482 .27 03/25/2003 52500 02/19/2003 (42 .73) 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 16 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unarnortized Bond Guantit Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount) 378 .00 Cray, Inc 2,604.24 03/25/2003 2,914.38 02120/2003 (310.14) 000 780.00 Energy Partners Ud 7,56447 03/25/2003 8,004.91 1210612002 (440.44) 0.00 209.00 Orasure Technologies Inc 1,35010 03/25/2003 1,54660 02/20/2003 (196.50) 0.00 42.00 Able Laboratories Inc 56689 03/2612003 562.62 02/1812003 4.27 000 46000 Able Laboratories Inc 6,208.78 03/26/2003 5,80483 03/18/2003 40395 0.00 38500 Able Laboratories Inc 5,19648 03/26/2003 4,94606 03/19/2003 250.42 000 37800 Cray, Inc 2,63081 03/26/2003 1,818.53 10/23/2002 812 .28 0.00 115 .00 Cray, Inc 800.38 03/26/2003 55546 1 Ot28/2002 244.92 0.00 529.00 Cray, Inc 3,681.74 03/2612003 3,967.50 02/19/2003 (285 .76) 0.00 223.00 Digene Corporation 3,556.26 03/2612003 3,693.53 02119/2003 (13727) 0.00 1,203.00 Maverick Tube Corp 20,149.73 03/26/2003 19,366 .98 02/11/2003 782.75 0.00 109.00 Orasure Technologies Inc 697 .58 03/2612003 806.60 02/20/2003 (109 .02) 0.00 67-00 Portfoho Recovery Associate 1,388.31 03/26/2003 1,482.71 02/04/2003 (94 .40) 0.00 124.00 Portfofio Recovery Associate 2,569.41 03/26/2003 2,905.26 02/12/2003 (335 .85) 0.00 256.00 Verity Inc 4,070.29 0312612003 4,24960 02/25t2003 (179 .31) 0.00 67000 Verity Inc 10,652 .73 03/2612003 10,94720 03/12/2003 (29447) 0.00 162.00 Biomarin Pharmaceutical Inc 1,91928 03/27/2003 1,692.90 02/20/2003 226.38 000 457.00 Bioniarin Pharmaceutical Inc 5,414.26 03/27/2003 4,894.15 03/07/2003 520.11 0.00 42.-3-3 Digene Corporation 648 .46 03/27/2003 692.08 02/18t2003 (43 .62) 0.00 135 .00 Digene Corporation 2,09435 03/27/2003 2,235.99 02/19/2003 (151 .64) 000 735.00 KypbonInc 6,8".44 03/27/2003 7,935.28 02127/2003 (1,09084) 0.00 302.00 Kyphonloc 2,812.27 03/27/2003 3,276.70 03/03/2003 (464 .43) 0.00 372-00 Medicines Company 7,155.98 03f27f2OO3 6,145.29 1 lf22f2002 1,010.69 0.00 26400 Medicines Company 5,078.44 03/27/2003 5,079.10 03/1 U2003 (0.66) 0.00 311 .00 Medicines Company 5,98255 03/27/2003 6,22305 03/1912003 (240 .50) 0.00 174.00 Orasure Technologies Inc 1,061-44 03/27/2003 1,287.60 02/20/2003 (226 .16) 0.00 390-00 Orasure Technologies Inc 2,379.09 03f27f2003 2,971.94 O2f2l/2OO3 (492 .75) 0.00 600.00 Sohu com Inc. 7,145.87 03/27/2003 6,531.72 03126(2003 614.15 000 54000 Verity Inc 8,62693 03/27/2003 8,823.11 03/12/2003 (19618) 0.00 381 .00 Digene Corporation 5,88405 03/2812003 6,278.12 02118/2003 (394.07) 000 821 .00 Kyphonlnc 7,241 .03 03f29n003 9,963.76 O2f27f2OO3 (1,62273) 0.00 273.00 Nficrostrategy Inc-Cl A 6,32443 03/28/2003 6,006.00 02/03/2003 318 .43 000 222.00 Microstrategy Inc-Cl A 5,14294 03/28/2003 4,832.94 03/0612003 310 .00 0.00 463.00 Orasure Technologies Inc 2,745.51 03/28/2003 3,409.39 02/21/2003 (663 .88) 0.00 1,631 .00 Verity Inc 25,031 .78 03128/2003 26,649 .07 03/12/2003 (1,61729) 0.00 535.00 Digene Corporation 8,377.99 03/31/2003 8,81573 02/18/2003 (43774) 0.00 466.00 Medicines Company 8,713.97 03/31/2003 7,698.13 11/22/2002 1,015.84 0.00 27.00 Orasure Technologies Inc 154.44 03/31/2003 19065 02/0712003 (36 .21) 0.00 356.00 OTasure Technologies Inc 2,036.26 03/31/2003 2,621.48 02/21/2003 (585 .22) 0.00 655.00 ICICI Bank limited Spon ADR 3,96256 04101/2003 4,73165 02/24/2003 (769.09) 0.00 623 .00 ICICI Bank Limited Spon ADR 3,768.97 04101/2003 4,509.96 03/03/2003 (740.99) 0.00 121-00 ICICI Bank Limited Spon ADR 73201 fW0112003 87078 03/04/2003 (13877) 0.00

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Sale Purchase Realized Unamortized Bond Ouantit Security Description Proceeds Date Cost Date Gain (- Less) Premium Discount)

10900 Medicines Company 1,970.49 0410112003 1,80064 11/2212002 169 .85 0.00 309.00 Microstrategy Inc-CI A 7,417.13 04101/2003 6,726.93 03/06/2003 690.20 0.00 1,018.00 Surebearn Corp . 2,98044 04/0112003 4,747.50 10129/2002 (1,767 .06) 0.00 207 .00 Hi-Tech Pharmacal Co Inc. 5,128.55 04/02/2003 3,064.47 03/05/2003 2,064.08 0.00 298.00 Hi-Tech Pharmacal Co Inc. 7,383.14 04/02/2003 5,23264 03/1412003 2,150.50 0.00 110.00 Hi-Tech Pharmacal Co. Inc. 2,725.32 04/0212003 2,001.57 03/17/2003 723.75 000 41.00 Hi-Tech Pbarmacal Co. Inc. 1,015.80 04/02/2003 763 .01 03/18/2003 252.79 0.00 175.00 ICICI Bank Limited Spon ADR 1,08526 04/0212003 1,25830 02128/2003 (173 .04) 0.00 113 .00 ICICI Bank Limited Spon ADR 700.77 04/0212003 813 .20 03/0412003 (112.43) 0.00 156.00 Medicines Company 2,78800 04102/2003 2,577.06 11/2212002 21094 0.00 468.00 Surebeam Corp 1,399.33 04/0212003 2,182.54 10/29/2002 (783 .21) 0.00 597.00 UTI Worldwide Inc. 15,967 .57 04/02/2003 15,51782 12120/2002 44975 0.00 44.00 UTI Worldwide Inc. 1,17684 04102/2003 1,103.33 02/11/2003 73.51 0.00 471.00 UTI Worldwide Inc. 12,59753 04/02/2003 12,827 .92 03/13/2003 (230.39) 0.00 97200 Able Laboratories Inc 13,51016 04103/2003 12,265 .86 03/1812003 1,24430 0.00 83600 Alans Medical Inc 8,73177 04/03/2003 4,575.96 05f24/2002 4,155.81 0.00 942.00 Alans Medical Inc 8,794.44 04/0312003 6,613.07 02/21/2003 2,181 .37 0.00 702.00 Alans Medical Inc 7,33218 04/03/2003 5,687.46 02/24/2003 1,644.72 0.00 421.00 Alans Medical Inc 4,397.22 04/03/2003 3,581 .49 02/25/2003 815.73 000 306.00 Hi-Tech Pharmacal Co. Inc. 8,06413 04/0312003 4,53009 03/05/2003 3,534.04 0.00 200.00 ICICI Bank Limited Spon ADR 1,237.02 04/03/2003 1,438.06 02t28/2003 (201 .04) 000 495.00 KyphonInc 4,870.56 04/03/2003 5,344.17 02127/2003 (473 .61) 000 218 .00 Medicines Company 3,977.63 04/03/2003 3,601.27 11/22/2002 376.36 000 609.00 Surebeam. Corp . 1,790.77 04/03/2003 2,840.10 10129/2002 (1,049 .33) 0.00 94.00 Surebeam Corp. 27641 04/03/2003 428.47 02/28/2003 (152 .06) 000 144.00 Echpsys Corp 1,033.51 04/0412003 1,188.00 03/17/2003 (15449) 0.00 628.00 Echpsys Corp 4,507.26 04/0412003 5,255.36 03/18/2003 (748 .10) 0.00 402.00 Eclipsys Corp 2,885.22 0410412003 3,36072 03/27/2003 (475 .50) 0.00 495 00 Echpsys Corp 3,552.69 04/04/2003 4,098.60 03/28/2003 (545 .91) 0.00 122-00 Hi-Tech Pharmacal Co. Inc. 3,31040 04/0412003 1,806.11 03/05/2003 1,504.29 0.00 23300 Hi-Tecb Pharmacal Co. Inc. 6,322.32 04/0412003 3,420.16 03/06/2003 2,902.16 0.00 567.00 Marvel Enterprises Inc 7,637.35 0410412003 6,232.86 01108r.003 1,404.49 0.00 834.00 Omnivision Technologies 17,93015 04/04/2003 14,949 .20 02120/2003 2,980.95 0.00 328.00 Surcbeam Corp. 951 .94 0410412003 1,49509 02128/2003 (543 .25) 000 124 .00 Able Laboratories Inc 1,791.71 04107/2003 1,564.78 03/18/2003 226.93 000 744.00 Able Laboratories Inc 10,750.29 04/07/2003 10,819.77 04/04/2003 (69 .48) 0.00 38.00 Eclipsys Corp 272 .59 04/07/2003 313.50 03/17/2003 (40 .91) 0.00 539.00 Echpsys Corp 3,866.49 0410712003 4,375.71 03/19/2003 (509 .22) 0.00 271 .00 Echpsys Corp 1,944.01 04/0712003 2,190.47 03/20/2003 (246 .46) 0.00 464.00 Eclipsys Corp 3,328.48 04107/2003 3,735.94 03/26/2003 (407 .46) 0.00 69.00 Marvel Enterprises Inc. 952 .61 04/07/2003 69023 01/06/2003 262 .38 000 902.00 Marvel Enterprises Inc. 12,452 .96 04/07/2003 9,915.42 01/09/2003 2,537.54 000 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 18 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Reatized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

669.00 Portfolio Recovery Associate 14,290 .16 04/0712003 14,804.97 02/04/2003 (514 .81) 0.00 44.00 Pharmaceutical Resources, Inc 1,975.51 04/0712003 1,448.74 02/1012003 526.77 0.00 356.00 Pharmaceutical Resources, Inc. 15,983 .65 04107/2003 14,268 .48 03/18/2003 1,715.17 000 356 .00 Pharmaceutical Resources, Inc. 15,98365 04/0712003 15,461 .08 04/02/2003 522.57 0.00 203 .00 Surebeam Corp . 509.80 04/07/2003 925 .31 02128/2003 (415 .51) 0.00 960.00 Biomarin Pharmaceutical Inc 11,577 .05 04108/2003 10,032 .00 02/20/2003 1,54505 000 65.00 Biomann Pharmaceutical Inc 783.86 04/08/2003 670.80 0212412003 113 .06 0.00 53.00 Hams Interactive, Inc 252.49 04108/2003 259 .39 02125/2003 (6.90) 0.00 1,059.00 Hams Interactive, Inc. 5,045.04 04/08/2003 5,389.31 02/2612003 (344 .27) 0.00 230.00 Marvel Enterprises Inc. 3,167.30 04108/2003 2,300.76 01/0612003 866.54 0.00 457.00 Pharmaceutical Resources, Inc. 20,032 .71 04/0812003 15,047 .14 02/10/2003 4,985.57 000 222.00 Kyphon Inc 1,795.89 04/09/2003 2,396.78 02127/2003 (600 .89) 0.00 634.00 Kyphonlnc 5,128.82 04109/2003 6,676.02 03/17/2003 (1,547 .20) 0.00 242.00 Maverick Tube Corp 4,277.09 04/09/2003 4,576.44 03128/2003 (299 .35) 0.00 242.00 Pharmaceutical Resources, Inc. 10,404 .47 04/09/2003 7,524.92 12/23/2002 2,879.55 000 242.00 Pharmaceutical Resources, Inc. 10,40447 04/09/2003 7,968.07 02110/2003 2,436.40 000 29.00 Advanced Neuromodulation Sys. 1,213.02 04/10/2003 1,260.37 04108/2003 (47 .35) 0.00 58.00 Advanced Neuromodulation Sys. 2,426.04 04110/2003 2,549.10 04/09/2003 (123 .06) 000 78.00 Cormetics Corp. 1,282.73 04/10/2003 1,177.96 02/20/2003 104 .77 0.00 240.00 Connetics Corp. 3,946.88 04/10/2003 3,78264 03/14/2003 164 .24 0.00 178 .~;O Cormetics Corp. 2.927.27 04/10/2003 2,906.49 03/17/2003 20.78 000 78.00 Connetics Corp. 1,282.73 0411012003 1,185.14 0312412003 97.59 000 449.00 Cormetics Corp. 7,383.95 04/10/2003 7,318.70 0312812003 65.25 000 756.00 ICICI Bank Limited Spon ADR 4,530.26 04/10/2003 5,39784 02/25/2003 (867 .58) 000 280.00 ICICI Bank Limited Spon ADR 1,677.88 04/10/2003 2,01328 02128/2003 (335 .40) 000 361 .00 ICICI Bank Limited Span ADR 2,163.26 04/10/2003 2,46202 03121/2003 (298 .76) 0.00 18.00 Microstratrgy Inc-CI A 463.84 04/10/2003 37009 0211412003 93.75 0.00 333 .00 Microstrategy Inc-CI A 8,581 .00 04/10/2003 7,24941 03/06/2003 1,331.59 0.00 232.00 Microstrategy Inc-Cl A 5,978.36 04/10t2003 6,303.44 04/03/2003 (325 .08) 0.00 52000 Packeteer Inc 4,892.96 04/10/2003 5,48059 03/2612003 (587 .63) 0.00 493.00 Pharmaceutical Resources, Inc. 21,232.51 04/1012003 14,739 .37 12/20/2002 6,493.14 000 5.00 Pharmaceutical Resources, Inc. 215.34 04110/2003 155 .47 12/2312002 59.87 000 131 .00 Surebeam Corp. 344.59 04110/2003 597 .12 02128/2003 (252 .53) 000 1,213.00 Biomann Pharmaceutical Inc 14,615.96 04/11/2003 12,260 .15 02114/2003 2,355.81 0.00 987.00 Biomann Pharmaceutical Inc 11,892.79 0411112003 10,05615 02/1812003 1,836.64 0.00 148 .00 Biomann Pharmaceutical Inc 1,783.32 04/11/2003 1,52588 02/1912003 257 .44 0.00 86.00 Biomann Pharmaceutical Inc 1,03625 04/11/2003 887 .52 0212412003 148 .73 000 505.00 ICICI Bank Limited Spon ADR 2,944.92 04/11/2003 3,444.10 03/2112003 (499.18) 0.00 943.00 ICICI Bank Limited Spon ADR 5,499.12 04/11/2003 6,24332 0410412003 (744.20) 0.00 105 .00 Inspire Pharmaceuticals Inc 1,557.60 04111/2003 1,534.38 02118/2003 23 .22 000 387.00 Inspire Pharmaceuticals Inc 5,740.87 04/1112003" 5,967.97 03/2512003 (227.10) 0.w 602.00 Inspire Pharmaceuticals Inc 8,930.25 04/1111= j 9'A476 4 .14 0.4104120003 1(54589) 0.00

0 a 0 Dfiehaus Capital Management Friday January 23, 2004 16.50:14 Page 19 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Descriotion Proceeds Date Cost Date Gain (- Loss Premium Discount)

18.00 Packeteer Inc 171 .75 04/11/2003 16693 03/13/2003 482 0.00 464.00 Packeteer Inc 4,427.37 04111/2003 4,535.79 03/21/2003 (108 .42) 000 557.00 Packeteer Inc 5,314.75 04111/2003 5,515.08 03/25/2003 (20033) 0.00 315.00 Packeteer Inc 3,005.65 04/11/2003 3,319.97 03/2612003 (31432) 0.00 41800 Packeteer Inc 3,988.45 04/1112003 4,235.55 03/27/2003 (247 .10) 000 255.00 Connetics Corp. 4,158.19 04/1412003 3,851 .01 02120/2003 307 18 0.00 503.00 Connetics Corp. 8,20223 04/14/2003 7,480.06 02/21/2003 722.17 0.00 80.00 Connetics Corp. 1,304.53 04114/2003 1,163.78 02/24/2003 14075 000 3800 Microsemi Corp. 417.60 OV14nOO3 408.50 03/21/2003 9.10 0.00 252-00 Microsemi Corp. 2,76935 04/14/2003 2,759.27 03125/2003 1008 0.00 219.00 Microsemi Corp. 2,406.70 04/14/2003 2,444.37 03/27/2003 (37 67) 000 90.00 Microsemi Corp. 98905 04/14/2003 1,021 .51 03128/2003 (3246) 0.00 340-00 Microsemi Corp. 3,736.42 04/1412003 3,987.28 04/03/2003 (250.86) 0.00 684.00 Packeteer Inc 6,579.76 04/14/2003 6,343.28 03/13/2003 236 .48 0.00 1,568-00 Alans Medical Inc 15,760 .16 04/15/2003 8,582.67 05/24/2002 7.17749 0.00 136 .00 Advanced Neuromodulation Sys. 5,460.14 04/15/2003 5,879.28 04/07/2003 (41914) 0.00 138 .00 Advanced Neuromodulation Sys 5,540.44 04/15/2003 5,997.63 04/08/2003 (457 .19) 0.00 115 .00 Connetics Corp. 1,858.54 04/15/2003 1,581 .25 01109/2003 277.29 0.00 62.00 Connetics Corp. 1,002.00 04/15/2003 901 .93 02/24/2003 10007 000 54.00 Connetics Corp. 872 .71 04/1512003 77226 02125/2003 10045 0.00 481 .00 Harns Interactive, Inc. 2,184.50 04/1512003 2,146.77 0211812003 37 .73 0.00 2,267.00 Hams Interactive, Inc. 10,295 .77 04/15/2003 10,389 .78 02/21/2003 (94.01) 0.00 111-00 Hams Inter-active, Inc. 504.12 04/1512003 534.09 OYM003 (29.97) 0.00 163-00 Hams Interactive, Inc. 740.28 04/15/2003 797.75 0212512003 (57 .47) 0.00 176.00 Impac Medical Systems Inc 3,264.65 04/15/2003 3,98087 03/31/2003 (71622) 0.00 99.00 Impac Medical Systems Inc 1,836.36 04/15/2003 2,263.46 04/01/2003 (427 .10) 0.00 34.00 Impac Medical Systems Inc 630.67 04/15/2003 802 .30 04/0212003 (171 .63) 000 454.00 Inspire Pharmaceuticals Inc 6,063.33 04/1512003 6,634.35 02/18/2003 (571 .02) 0.00 605.00 Kyphonlnc 4,91841 04/15/2003 6,158.90 02/2612003 (1,240.49) 0.00 636.00 KyphonInc 5,170.43 04/15/2003 6,581 .96 03/05/2003 (1,411 .53) 0.00 759.00 Kyphoninc 6,17037 04/15/2003 7,992.27 03/17/2003 (1,821 .90) 0.00 198 .00 Maverick Tube Corp 3,33137 04115r-003 3,744.36 03/28/2003 (412 .99) 0.00 32.00 Omega Protein Corp. 151.33 04/1512003 18592 03/28/2003 (34.59) 0.00 1,617.00 Packeteer Inc 15,485.11 04/15/2003 14,995 .73 03/13/2003 489.38 0.00 542.00 Alans Medical Inc 5,24344 04/16/2003 2,966.71 05124/2002 2,276.73 000 280-00 Connetics; Corp. 4,485.38 04/16/2003 3,85000 01/09/2003 63538 000 263-00 Maverick Tube Corp 4,485.01 0411612003 4,97357 03/28/2003 (488 .56) 000 582.00 Netease com, Inc. ADR 12,048 .34 04/16/2003 8,89098 03/3112003 3,157.36 000 1,552.00 Alans Medical Inc 13,49741 04/17/2003 8,495.09 0512412002 5,002.32 0.00 256.00 Connetics Corp. 4,100.92 04/17/2003 3,52000 01/09/2003 580.92 0.00 29.00 Digene Corporation 570.26 04/1712003 352.24 02104/2003 218.02 0.00 239-00 Digene Corporation 4,699.76 04/17/2003 3,083.77 02105/2003 1,615.99 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 20 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium f- Discount

181 .00 Digene Corporation 3,559.23 04/17/2003 2,98252 02/1812003 57671 0.00 162 .00 Digene Corporation 3,185.61 04/17/2003 3,03867 04/01/2003 146.94 0.00 115 .00 Digene Corporation 2,261 .39 04/17/2003 2,333.49 04/02/2003 (72 .10) 0.00 119 .00 Inspire Pharmaceuticals Inc 1,56655 04/17/2003 1,605.54 02/12/2003 (38 .99) 0.00 615.00 Inspire Pharmaceuticals Inc 8,096 03 04117/2003 8,987.06 02/1 V2003 (89103) 000 51.00 Maverick Tube Corp 877.03 04/1712003 964.46 03/2&'2003 (87 .43) 000 343 .00 Omega Protein Corp. 1,583.48 04/1712003 1,992.80 03/28/2003 (409 .32) 000 204.00 Alans Medical Inc 1,645.96 04121/2003 1,11662 05/24/2002 529 .34 000 159.00 Digene Corporation 3,027.21 04/21/2003 1,931 .23 02/04/2003 1,095.98 0.00 613 .00 Eresearch Technology Inc. 16,441 .54 04121/2003 15,49051 03/18/2003 95103 000 113.00 Inspire Pharmaceuticals Inc 1,486.02 04/2112003 1,47089 02/10/2003 15 .13 0.00 86-00 Inspire Pharmaceuticals Inc 1,130.95 0412112003 1,139.07 02/11/2003 (8.12) 0.00 558 .00 Inspire Pharmaceuticals Inc 7,338.02 04/21/2003 7,528.48 02/12/2003 (190.46) 0.00 573 .00 Alans Medical Inc 4,887.28 04/22/2003 3,136.40 05/2412002 1,750.88 0.00 817 .00 Cormetics Corp . 13,003 .32 04/22/2003 11,233.75 01/0912003 1,769.57 0.00 358 .00 Digene Corporation 6,870.76 04/2212003 4,348.30 02/04/2003 2,522.46 0.00 435 .00 Inspire Pharmaceuticals Inc 5,788.40 04/2212003 5,662.26 02110t2003 126 .14 0.00 94.00 J2 GLOBAL COMMUNICATIONS INC 2,613.04 04/22/2003 2,716.44 04102/2003 (103 .40) 000 118.00 J2 GLOBAL COMMUNICATIONS INC 3,670.70 04/22/2003 3,851.32 04103/2003 (180.62) 0.00 229.00 12 GLOBAL COMMUNICATIONS INC 7,123.65 04/22/2003 7,39049 0410412003 (266.84) 000 111.00 J2 GLOBAL COMMUNICATIONS INC 3,452.95 04/2212003 3,501.11 04/09/2003 (48 .16) 0.00 281 .00 Netease corn Inc. ADR 6,011.99 04122/2003 4,16664 02/19/2003 1,845.35 0.00 160.00 Netease com Inc. ADR 3,423.20 04122/2003 2,44426 03/31/2003 978.94 0.00 798.00 Alans Medical Inc 6,832.23 04/23/2003 4,367.97 05/24/2002 2,464.26 0.00 809 .00 Ask Jeeves Inc 7,154.70 04123/2003 5,721.98 02121/2003 1,432.72 000 219.00 Ask Jeeves: Inc 1,93681 04/23/2003 1,555.12 OM4/2003 381 .69 0.00 144 .00 Ask Jeeves Inc 1,273.52 04/23/2003 1,016.64 03/03/2003 25688 0.00 633.00 Ask Jeeves Inc 5,598.18 04/23/2003 4,413.09 03/20/2003 1,185.09 0.00 1,548.00 Ask leeves Inc 13,690.33 04/2312003 10,90659 03/26/2003 2,783.74 0.00 894.00 Cray, Inc 6,547.64 04/23/2003 7,083.93 04/17/2003 (536 .29) 0.00 52-00 Digene Corporation 999 .64 04123/2003 631 .60 02104/2003 36804 0.00 176.00 Inspire Pharmaceuticals Inc 2,358.58 04/23/2003 2,290.94 02/10/2003 67 .64 0.00 144.00 J2 GLOBAL COMMUNICA77ONS INC 4,186.99 04/23/2003 4,541.98 04/09/2003 (354 .99) 000 21.00 Netease com Inc. ADR 443.92 04/23/2003 311 .39 02/19/2003 132 .53 0.00 333 .00 Netease com. Inc. ADR 7,039.28 0412312003 4,915.08 02/20/2003 2.124.20 0.00 514.00 Omega Protein Corp. 2,375.23 04/23/2003 2,986.29 03/28/2003 (61106) 0.00 300.00 Overstock .com Inc 3,402.80 04/23/2003 5,01300 02/19/2003 (1,61020) 000 161.00 Overstock.corn Inc 1,826.17 04/23/2003 2,683.87 02/20/2003 (857.70) 0.00 1,152.00 Ask Jeeves Inc 9.103 .36 04/24/2003 7,94661 02/1912003 1,156.75 0.00 66.00 Ask Jeeves Inc 521 .55 04/2412003 456.39 03/0412003 65 .16 0.00 4.00 Ask Jeeves Inc 31 .61 04r2412003 27.89 03120/2003 3.72 0.00 463 .00 Ask jeeves Inc 3,658.73 G4r24r200. 3,2.08 .59 03r.1r.003 450.14 0(10

0 0 0 0 0 0 0 0 0 0 0 0 0 0

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593 .00 Ciphergen Biosystenis Inc 2,692.45 04/24/2003 3,467.39 04/03/2003 (774.94) 000 64300 Cray,Inc 4,778.35 04/24/2003 3,093.42 10123/2002 1,68493 000 838.00 Cray,Inc 6,227.46 04/2412003 6,715.31 04/17/2003 (487 .85) 0.00 29.00 Digene Corporation 550.10 04/24/2003 352 .24 02/04/2003 197 .86 000 2,13800 Hams Interactive, Inc. 10,18667 04124/2003 9,542.20 02/18/2003 644.47 0.00 30800 J2 GLOBAL COMMUNICATIONS INC 8,90078 04nAI2003 9,540.98 03/27/2003 (640.20) 0.00 27.00 J2 GLOBAL COMMUNICATIONS INC 78026 0412412003 85162 04109/2003 (71 .36) 000 51400 Omega Protein Corp 2,378.57 04/24/2003 2,98629 03/28/2003 (607.72) 0.00 1,040.00 Overstock .com Inc 11,207 .45 04/2412003 17,33680 02120/2003 (6,129.35) 0.00 168 .00 Cipbergen Biosystems Inc. 764.04 04/25/2003 89860 03/20/2003 (134.56) 0.00 1,03600 Ciphergen Biosystems Inc. 4,711 .58 04/25/2003 5,513.10 03/21/2003 (801 .52) 0.00 366.00 Ciphergen Biosystems Inc. 1,664-52 04/25/2003 1,958.06 03/27/2003 (293 .54) 0.00 181 .00 Ciphergen Biosystems Inc. 823 .16 04/25/2003 1,015.99 0312812003 (19283) 0.00 56.00 Ciphergen Biosystems Inc. 254.68 04/2512003 311 .55 03/31/2003 (56.87) 0.00 7400 Ciphergen Biosystems Inc. 336.54 04/25/2003 420.67 04/0112003 (84.13) 0.00 227.00 Ciphergen Biosystems Inc 1,032.36 04/25/2003 1,327.31 04/03/2003 (294.95) 0.00 576.00 Cray,Inc 4,262.49 04/25/2003 2,452.47 06110/2002 1,810.02 0.00 362.00 Cray, Inc 2,678.85 04/25/2003 1,544.96 06t 1 1/2002 1,13389 0.00 457.00 Cray,Inc 3,38187 04/25/2003 2,198.59 10/23/2002 1,18328 000 209.00 Hams Interactive, Inc. 1,025.90 04125/2003 876 .32 02/13/2003 149 .58 0.00 1,058.00 Hams Interactive, Inc. 5,193.30 04125/2003 4,527.96 02/14/2003 665 .34 0.00 376.00 Hams Interactive, Inc. 1,945.63 04/2512003 1,67814 02/18/2003 167 .49 000 711 .00 Hams Interactive, Inc. 3,490.02 04125/2003 3,155.71 02/19/2003 334 .31 0.00 187.00 Hams Interactive, Inc. 917.91 04/25/2003 835 .63 02/20/2003 82 .28 0.00 769.00 Komag Inc 5,828.74 04/25/2003 6,03411 04/03/2003 (205 .37) 0.00 1,039.00 Komag Inc 7,875.24 04/25/2003 8,308.88 04110/2003 (433 .64) 0.00 89700 Komag Inc 6,798.94 04/25/2003 7,292.61 04/17/2003 (493 .67) 0.00 810.00 Overstock com. Inc 8,10998 04/25/2003 13,170 .60 02tl4/2003 (5,060.62) 0.00 30200 Overstock.com. Inc 3,023.72 04125/2003 5,034.34 02/20/2003 (2,010 .62) 0.00 350.00 Omn vision Technologies 8,45095 04125/2003 5,78389 11/21/2002 2,667.06 0.00 51.00 Omni vision Technologies 1,231.42 04/25/2003 90355 12/02/2002 32787 0.00 78.00 Omnivision Technologies 1,88335 04/25/2003 1,398.13 02/20/2003 48522 0.00 371 .00 Omru vision Technologies 8,958.00 04/25/2003 9,315.29 04/15/2003 (357 .29) 0.00 1,114.00 Ask Jeeves Inc 9,455.52 04/28/2003 7,684.48 02/19/2003 1,77104 000 22800 Ask Jeeves Inc 1,93524 04128/2003 1,57058 02t2O/2003 364.66 0.00 2,40700 Hams Interactive, Inc 11,54420 04/2812003 10,09236 02/13/2003 1,45184 000 51400 Maverick Tube Corp 8,989.43 04/2&'2003 9,720.20 03/28/2003 (73077) 0.00 55600 Stratasys Inc 11,788 .75 04128/2003 8,545.16 04/1412003 3,24359 0.00 275.00 Overstock .com. Inc 2,541 .28 04/29/2003 4,471.50 02/1412003 (1,930.22) 0.00 1,11300 Biolase Tech Inc 12,48560 04/30/2003 9,671.97 04/07/2003 2,813.63 0.00 536.00 Biolase Tech Inc 6,01283 04/30/2003 4,81489 04108/2003 1,197.94 0.00 286-00 Ciphergen Biosystems Inc. 1,25297 04/30/2003 1,495.78 03/1712003 (242.81) 000 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 22 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056404 -- RHD FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Descriptio Proceeds Date Cost Date Gain (- Loss) Premium Discount)

668.00 Cipbergen Biosystems Inc. 2,92651 04/30/2003 3,554.78 03/21/2003 (628 .27) 000 167.00 Eresearch Technology Inc. 4,95803 04/30/2003 3,800.55 02/20/2003 1,157.48 000 107.00 Eresearch Technology Inc. 3,176.70 04/30/2003 2,516.84 02/21/2003 65986 000 68.00 Eresearch Technology Inc. 2,01884 04/30/2003 1,71836 03/1812003 300.48 0.00 280.00 J2 GLOBAL COMMUNICATIONS INC 8,16867 04/30/2003 8,673.62 03/2712003 (504 .95) 0.00 71.00 J2 GLOBAL COMMUNICATIONS INC 2,071.34 04/3012003 2,096.32 04/0112003 (24 .98) 0.00 188.00 Komag Inc 1,47000 04/30/2003 1,42504 03/20t2003 44.96 0.00 773 .00 Komag Inc 6,044.18 04130/2003 5,87480 03/21/2003 169.38 0.00 391 .00 Komag Inc 3,057.28 04130/2003 3,068.06 04103/2003 (10 .78) 0.00 828 .00 Microstrategy Inc-Cl A 22,856 .36 04/3012003 17,023 .93 02/14/2003 5,83243 0.00 381 .00' Omega Protein Corp 1,916.94 04130t2003 2,18884 03/20/2003 (271 .90) 000 4.00 Omega Protein Corp. 20.13 04/30/2003 23 .24 03/28/2003 (3.11) 000 56.00 Overstock.com Inc 438.52 04/3Ot2OO3 903 .95 01/15/2003 (465 .43) 000 114.00 Overstockcom Inc 892 .70 0413012003 1,853.64 0211412003 (960 .94) 000 110.00 Portfolio Recovery Associate 2,918.06 04/3012003 2,43430 02/04/2003 483 .76 0.00 487 .00 Portfolio Recovery Associate 12,919 .06 04/30/2003 13,585 .25 04/24/2003 (666 .19) 000 175.00 Sciclone Pharmaceuticals Inc. 1,038.96 04/30/2003 1,15388 04/10/2003 (114 .92) 0.00 495 .00 Sciclone Pharmaceuticals Inc. 2,938.78 04130/2003 3,269.82 0411 V2003 (331 .04) 000 1,33800 Sciclone Pharmaceuticals Inc. 7,943.61 04/30/2003 10,214.43 04/23/2003 (2,270 .82) 000 669.00 Synovis Life Technologies Inc 9,759.92 04/30/2003 8,242.08 04110/2003 1,517.84 0.00 712.00 Cray, Inc 4,945.45 05/01/2003 3,038.72 06111/2002 1,906.73 0.00 604.00 FIND\VHAT.COM 6,446.55 05/01/2003 6,28160 03/27/2003 164.95 000 854.00 FINDWHAT.COM 9,114.82 05/01/2003 9,677.53 04110/2003 (562 .71) 0.00 52.00 Microstrategy Inc-Cl A 1,39105 05/01/2003 1,069.14 02/14/2003 321 .91 0.00 651 .00 Omega Protein Corp. 3,078 18 05/0112003 3,57829 03/18/2003 (500 .11) 000 27.00 Omega Protein Corp. 127.67 05/01/2003 155 .11 03/20/2003 (27 .44) 0.00 103 .00 Omega Protein Corp. 487.02 05/01/2003 582.08 03/21/2003 (95 .06) 0.00 1,414.00 Omega Protein Corp. 6,685.93 05/01/2003 7,734.01 03/24/2003 (1,048 .08) 0.00 850 .00 Omega Protein Corp. 4,019.12 05/01/2003 4,86821 03/27/2003 (849 .09) 0.00 1,246.00 Palomar Medical Tech 6,205.83 05/01/2003 6,27984 0411512003 (7401) 000 980.00 Palomar Medical Tech 4,880.99 05/01/2003 5,671.55 04/2812003 (790 .56) 0.00 689.00 Sciclone Pharmaceuticals Inc. 4,037.00 05/01/2003 4,251.06 04108/2003 (214 .06) 0.00 199 .00 Sciclone Pharmaceuticals Inc. 1,165.98 05/01/2003 1,312.13 04/10/2003 (146 .15) 0.00 718.00 Sina Corp 7,070.96 05/0112003 7,619.20 04125/2003 (548 .24) 0.00 23.00 Sina Corp 226.51 05/01/2003 216.11 04/28/2003 1040 0.00 201 .00 Ciphergen Biosystems Inc. 942.68 05/0212003 1,021.52 02/28/2003 (7884) 0.00 1,237.00 Ciphergen Biosystems Inc. 5,801 .49 05/02/2003 6,345.81 03/14/2003 (54432) 000 488.00 Ciphergen Biosystems Inc. 2,288.70 05/02/2003 2,552.24 03/17/2003 (26354) 0.00 773.00 Ciphergen Biosystems Inc. 3,625.34 05/02/2003 3,973.22 03/18/2003 (347 .88) 0.00 699.00 Cray,Inc 4,778.97 05/0212003 2,98323 06111/2002 11,795 .74 0.00 889-00 Omega Protein Corp. 4,086.62 05/02/2003 4,585.08 03/07/2003 (498.46) 0.00 477.00 Omega Proteem C=r- - - . . n,;1mr)nn,:t 25191,40 .65A'q n-3 ./19!20003 1f406 .941,1 O.On

0 0 0 0 0 0 0 40 0 0 0 0

Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 23 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Un2mortized Bond Ouantity Security Descrii)tion Proceeds Date cost Date Gain (- Loss) Prernium Discount)

8.00 Omega Protein Corp . 36.77 05/02/2003 4376 03/24/2003 (6.99) 000 857 .00 Overstock.com Inc 8,228.70 05/02/2003 13,833.69 01/15/2003 (5,604.99) 0.00 1,30100 Sciclone Pharmaceuticals Inc 7,17834 05/02/2003 7,304-33 03/07/2003 (125 .99) 000 1,729.00 Sciclone Pharmaceuticals Inc. 9,539.86 05/02/2003 9,777.94 03110/2003 (237 .98) 0.00 513 .00 Sciclone Pharmaceuticals Enc. 2,841 .54 05/02/2003 3,117.40 03/27/2003 (275 86) 0.00 69600 Sciclone Pharmaceuticals Inc. 3,840.22 05/0212003 4,23412 03/28/2003 (393 .90) 0.00 83500 Sciclone Pharmaceuticals Inc. 4,607-16 05/0212003 4,984-95 04/01/2003 (377 .79) 0.00 66.00 Sciclone Pharmaceuticals Inc. 364.16 05102/2003 407.21 04/08/2003 (43.05) 000 12.00 Synovis Life Technologies Inc 153 .40 05/0212003 130 .07 03/1212003 23 .33 0.00 329 .00 Syriovis Life Technologies Inc 4.20560 05/0212003 3,629.79 03/13/2003 575 .81 0.00 25.00 Synovis Life Technologies Inc 31957 05/0212003 272.50 03117/2003 47 .07 0.00 71.00 Synovis Life Technologies Inc 907.59 05/0212003 87472 04/ 1 Ot2OO3 32 .87 000 184.00 Biolase Tech Inc 2,238.34 05/05/2003 1,512.48 02/28/2003 72586 000 881 .00 Biolase Tech Inc 10,717 .29 0510Y2003 7,65589 04/07/2003 3,061.40 0.00 479.00 Ciphergen Biosystems Inc. 2,308.67 05/05/2003 2,43437 02/28/2003 (125.70) 000 878.00 Ciphergen Biosysterns Inc. 4,231.75 05/05/2003 4,447-60 03103/2003 (215 .85) 0.00 157.00 Eresearch Technology Inc. 5,180.11 05/05/2003 3,572.97 02120/2003 1,607.14 0.00 471 .00 Eresearch Technology Inc. 15,707-11 05/05/2003 10,718 .92 02120/2003 4,988.19 0.00 305 .00 Eresearch Technology Inc. 10,171 .27 05/0512003 6,908-65 03/0512003 3,262.62 0.00 102.00 Martek Biosciences; Corp 3,319.36 05/0512003 3,379.94 04/28/2003 (60 .58) 0.00 610.00 Martek Bioscienccs Corp 19,851 .09 05/05/2003 20,880 .79 04/30/2003 (1,029 .70) 000 514.00 NU Holdings Inc - C1 B 16,445 .42 05/05/2003 13,405 .07 04/08/2003 3,040.35 0.00 1,074.00 Omega Protein Corp . 5,033.81 05/05/2003 5,539.23 03/07/2003 (505 .42) 0.00 400.00 Stratasys Inc 9,459.55 05/05/2003 5,576.88 04101/2003 3,88267 000 71.00 Stratasys Inc 1,679.07 05/05/2003 1,091 .20 04/14/2003 587 .87 000 138.00 Synovis Life Technologies Inc 1,631.26 05/05/2003 1,495-75 03/1212003 135 .51 0.00 102.00 Able Laboratories Inc 1,529.80 05106/2003 1,827.84 04/22/2003 (298 .04) 0.00 637 .00 Able Laboratories Inc 9,553.78 05/0612003 11,727 .68 04123/2003 (2,173 .90) 0.00 723 .00 Biolase Tech Inc 8,845.12 05/06/2003 5,94306 02128/2003 2,902.06 000 80.00 Biolase Tech Inc 978 .71 05/06/2003 648.00 03/03/2003 330.71 0.00 607 .00 Digital Generation Systems 1,790.25 05/06/2003 1,616.44 03/26/2003 173 .81 0.00 3,278.00 Digital Generation Systems 9,667.94 05/06/2003 11,264 .06 04/10/2003 (1,596 .12) 000 115 .00 Eresmch Technology Inc. 3,461 .34 05/06/2003 2,515M 02107/2003 94629 0.00 540.00 Eresearch Technology Inc. 16,253 .23 05/0612003 12,231 .70 03/05/2003 4,021 53 0.00 168 .00 Exult Inc 1,216.35 05/06r2003 1,308.79 03/17/2003 (92 .44) 000 88.00 Exult Inc 637.13 05/0612003 692.38 03/19/2003 (55 .25) 000 95.00 Exult Inc 687.81 05/0612003 752.45 03/20/2003 (64 .64) 0.00 898 .00 Exult Inc 6,501-66 05/0612003 7,272-72 03/21/2003 (771 .06) 0.00 609 .00 Exult Inc 4,40925 05/0612003 4,72651 04/17/2003 (317 .26) 000 1,147.00 FINDWHAT.COM 11,187 .07 0510612003 11,541 .00 03/2&2003 (353.93) 000 138 .00 FINDWHAT.COM 1,34596 05/06/2003 1,435.20 03/2712003 (89.24) 0.00 45.00 Kensey Nash Corp 95243 05/06/2003 996.75 04121/2003 (4432) 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 24 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount) 1,078.00 Kensey Nash Corp 22,816.09 05/06/2003 24,79055 04/2212003 (1,974.46) 000 963.00 Kensey Nash Corp 20,382.09 05/0612003 21,95640 04/23/2003 (1,574.31) 0.00 1,067.00 Omega Protein Corp. 5,249.11 05/0612003 5,503.13 03/07/2003 (254.02) 0.00 34000 Omega Protein Corp. 1,672.63 05/0612003 1,741.39 03/10/2003 (68.76) 000 542.00 Overstock.com Inc 6,32901 05/0612003 8,74896 01/15/2003 (2,419.95) 0.00 334.00 Overstock.com Inc 3,900.17 05/062003 4,933.18 03/07/2003 (1,033.01) 000 138.00 Overstock corn Inc 1,611.45 05/0612003 2,024.46 03/11/2003 (413.01) 0.00 213.00 Synovis Life Technologies Inc 2,522.82 05/0612003 2,308.66 03/12t2OO3 214.16 000 143.00 UTI Worldwide Inc. 4,076.74 05/06/2003 3,58583 02/11/2003 49091 0.00 271-00 UTI Worldwide Inc. 7,725.84 05/0612003 7,735.86 04/14/2003 (10.02) 0.00 260.00 Able Laboratories Inc 4,290.55 05/07/2003 4,659.20 04/22/2003 (368.65) 0.00 244.00 Able Laboratories Inc 4,02651 05/07/2003 4,34047 O4nQ2003 (31396) 0.00 422.00 FINDWHAT .COM 4,13595 05/07/2003 4,080-57 03/19/2003 55.38 000 152.00 FINDWHAT .COM 1,489.73 05/07/2003 1,529.41 03/26/2003 (39.68) 0.00 633.00 Kensey Nash Corp 13,49492 05/0712003 14,020.95 04/21/2003 (52603) 0.00 9800 Omega Protein Corp 473.76 05/07/2003 501.93 03/10/2003 (28.17) 000 246-00 Overstock.com, Inc 2,709.49 0510712003 3,596-52 03/1012003 (887.03) 0.00 164.00 Overstock corn Inc 1,806.32 05/07/2003 2,405-88 03/11/2003 (599.56) 0.00 613.00 Ovcrstock.corn Inc 6,751.69 05/07/2003 7,357.53 03/21/2003 (605.94) 0.00 420.00 Portfoho Recovery Associate 10,604.49 05/07/2003 9,055.20 01/30t2003 1,54929 0.00 37-LZ Portfoho Recovery Associate 934.21 05/07/2003 81881 02/0412003 115.40 0.00 154.00 Synovis Life Technologies Inc 1,867.19 0510712003 1,669.18 03/1212003 198.01 0.00 554.00 LITI Worldwide Inc. 15,963.59 05/07/2003 13,891.94 02/11/2003 2,071.65 0.00 150.00 LM Worldwide Inc. 4,322.27 05/07/2003 3,750.00 02/1912003 572.27 0.00 272.00 UTI Worldwide Inc 7,837.72 05/07/2003 6,813.60 03/04/2003 1,024.12 0.00 13.00 Able Laboratories Inc 202.93 05/08/2003 16405 03/1812003 38.88 0.00 260.00 Able Laboratories Inc 4,058.64 05/08nOO3 4,230.20 04/17/2003 (171.56) 0.00 333.00 Able Laboratories Inc 5,198.18 05/08/2003 5,654.34 04121/2003 (45616) 0.00 248.00 Able Laboratories Inc 3,871.32 05/08/2003 4,411-62 04/24/2003 (540.30) 0.00 191.00 Eresearch Technology Inc. 5,788.94 05/08/2003 4,144.47 02/0612003 1,644.47 0.00 194.00 Eresearch Technology Inc 5,879.86 05/08/2003 4,242.78 02107/2003 1,637.08 0.00 60.00 Exult Inc 420.24 05/08/2003 413.90 0212812003 6.34 000 177.00 Exult Inc 1,239.72 05/08/2003 1,248-36 03/03/2003 (8 64) 0.00 125.00 Exult Inc 875.51 05/0812003 907.35 03/04f2003 (31.84) 000 213.00 Exult Inc 1,491 .87 05/0812003 1,581-50 03/11/2003 (89.63) 0.00 254.00 Exult Inc 1,779.03 05/08/2003 1,95966 03/14/2003 (18063) 0.00 98.00 Exult Inc 686.40 05/08/2003 756-65 03/18/2003 (70.25) 000 931 .00 Exult Inc 6,520.79 05/0812003 7,225.58 04/17/2003 (704.79) 0.00 634.00 FINDWHAT.COM 5,707.25 05/08/2003 6,087.29 03/18/2003 (380.04) 0.00 351.00 FINDWHAT .COM 3,159.69 05/08/2003 3,394.03 03119r-003 (234.34) 0.00 590.00 Kensey Nash Corp 12,536.91 05/08/2003 13,068.50 04/21/2003 (531 .59) 0.00 159.00 Ntcrosem-; C-T* 1,85151 05/08/2003 1 .70925 03/2112003 142.26 0.00

0 0 _0 -- 49 0 0 0 0 0 0 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 25 Gains and Loss Reportfirom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantit Security Descriptio Proceeds Date Cost Date Gain (- Loss) Premium Discount)

41300 Microsemi Corp. 4,809.28 05/0812003 5,07990 04/1612003 (270.62) 0.00 313.00 Microserni Corp. 3,644.81 05/0812003 4,00696 05/01/2003 (362.15) 0.00 47.00 Omega Protein Corp 225 .22 05/08/2003 24072 03/10/2003 (15 .50) 0.00 461 .00 Portfolio Recovery Associate 11,639 .70 05/08/2003 9,939.16 01/30/2003 1,70054 000 64.00 Amencan Physicians Cap Inc 1,443.06 05/09/2003 1,32480 03/2112003 11826 0.00 285.00 Amencan Physicians Cap Inc 6,426.13 05/09/2003 6,313.61 04104/2003 11252 0.00 399.00 Amencan Physicians Cap Inc 8,996.58 05/09/2003 9,01668 04107/2003 (20 .10) 0.00 1,175.00 Digital Generation Systems 3,43917 05/09/2003 2,820.44 03/18/2003 61873 000 368.00 Digital Generation Systems 1,077.12 05/09/2003 979 .98 03/2612003 97 .14 000 424.00 Omega Protein Corp . 2,04960 05/09/2003 2,171 .62 03/10/2003 (12202) 000 471 .00 Omega Protein Corp . 2,276.80 05/09/2003 2,38540 03/13/2003 (10860) 000 744.00 Amencan Physicians Cap Inc 16,604 .47 05/12/2003 15,400.80 03121/2003 1,203.67 000 2,050.00 Digital Generation Systems 5,503.48 05/12/2003 4,67837 03/0612003 825 .11 000 80600 Digital Generation Systems 2,163.81 05/12/2003 1,934.70 03/18/2003 229 .11 000 205 .00 Digital Generation Systems 543.22 05/12/2003 46784 03/06t2OO3 7538 0.00 571 .00 FINDWHAT.COM 5,624.08 05/12/2003 5,482.40 03/lU2003 14168 0.00 136.00 Omega Protein Corp 643.06 05/12/2003 68878 03/13/2003 (45 .72) 0.00 81600 Sina Corp 10,108 .37 05/12/2003 7,495.78 04/04/2003 2,61259 0.00 33300 Sina Corp 4,125.11 05/12/2003 3,128.90 04/28t2003 99621 0.00 33.00 American Physicians Cap Inc 735.86 05/1312003 683 .10 03121/2003 52 .76 0.00 477.00 Eresearch Technology Inc. 14,405 .58 05/13/2003 10,350.33 02/0612003 4,055.25 0.00 1,737.00 FINDWHAT.COM 18,533 .60 05/13/2003 16,677 .63 03/1&'2003 1,855.97 0.00 305 .00 Grupo Financiero, Galicia-B ADR 942 .12 05/13/2003 892 .99 03/2612003 (50 .87) 000 761.00 Grupo Fuianciero Galicia-B ADR 2,101 .17 05/1312003 2,458.38 04/21/2003 (357 .21) 0.00 207.00 Grupo Fuianciero, Galicia-B ADR 571 .54 05/13/2003 696 .35 04/2212003 (124 .81) 000 256.00 Grupo Fmanciero Galicia-B ADR 706.83 05/13/2003 871 .78 04125/2003 (16495) 0.00 531 .00 Grupo Fumciero, Galicia-B ADR 1,466.13 05/1312003 1,685.11 0412812003 (218 .98) 0.00 28000 Grupo Financiero Gahcia-B ADR 773.10 05/13/2003 862 .34 04/29/2003 (8924) 0.00 52400 IRSA - Sp. ADR 4,889.99 05/13/2003 4,34134 04102/2003 548 .65 0.00 248.00 IRSA - Sp. ADR 2,31435 05/13/2003 2,10847 04/03/2003 205 .88 0.00 217.00 Microsemi Corp. 2,625.58 05/13/2003 2,037.22 03/07/2003 588 .36 0.00 309.00 Microserni Corp. 3,738.72 05/13/2003 3,15177 03/13/2003 586 .95 0.00 143 .00 Microsemi Corp. 1,73022 05/13/2003 1,53725 03/2112003 192 .97 000 258.00 Microsemi Corp 3,121 .65 05/13/2003 2,74850 03/26/2003 373-15 000 31000 Omega Protein Corp 1,45693 05/13/2003 1,57001 03/13/2003 (11308) 0.00 167 .00 Proassurance Corp 4,480.08 05/13/2003 3,991 .30 04/10/2003 48878 0.00 434.00 Proassurance Corp 11,642 .85 05/13/2003 10,748 .01 04/1412003 89484 0.00 674.00 Able Laboratories Inc 10,89458 05/1412003 8,424.26 02/14/2003 2,46032 0.00 189 .00 Able Laboratories Inc 3,052.21 05/14/2003 2,385.03 03/18/2003 667 .18 0.00 7.00 Advanced Neuromodulation Sys . 290.49 05/14/2003 30261 04/07/2003 (12 12) 0.00 1".00 Advanced Neuromodulation Sys . 5,975.79 05/14/2003 6,464.23 05/05/2003 (488 .44) 0.00 359-00 Boston Communications Gr 5,887.32 05/1412003 6,674.49 04/1712003 (787 .17) 0.00 Driehaus Capital Management Friday January 23, 2004 16.50:14 Page 26 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceed Date 'Cost Date Gain (- Loss) Pren-dum Discount)

72.00 Boston Comninnications Gr 1,180.74 05/14/2003 1,443.59 04/21/2003 (262 .85) 0.00 345.00 Boston Communications Gr 5,657.73 05/14/2003 6,37498 04123/2003 (717 .25) 0.00 399.00 Boston Communications Gr 6,543.29 05/14/2003 7,673.93 04128/2003 (1,13064) 0.00 220.00 Boston Communffications; Gr 3,607.83 05/14/2003 4,301.40 0412912003 (693 .57) 000 273.00 Boston Commimocations Gr 4,476.99 05/1412003 4,941.30 05/01/2003 (464 .31) 0.00 662.00 Boston Communications Gr 10,85619 05/14/2003 12,544.90 05/02/2003 (1,68861) 000 690.00 Boston Communwcations Gr 11,315o47 05/1412003 13,26830 05106/2003 (1,95323) 000 39600 Biolase Tech Inc 4,484.57 05/14/2003 3,077.47 02/27/2003 1,407.10 0000 37400 Biolase Tech Inc 4,235.42 05/14/2003 3,029.40 03/03/2003 1,206.02 0.00 1,09800 Biolase Tech Inc 12,434.48 05/14/2003 8,755o67 03/2412003 3,678.81 000 143.00 Digital Generation Systems 397o22 05/14/2003 32604 03/05/2003 71 .18 0000 547.00 Digital Generation Systems 1,519.42 05/14/2003 1,24833 03/0612003 271 .09 0.00 2,05100 Digital Generation Systems 5,699.90 05/14/2003 4,67250 03/17/2003 1,027.40 0.00 237.00 Eresearch Technology Inc. 7,172o92 05/14/2003 5,14262 02/06(2003 2,030.30 0.00 156000 Eresearch Technology Inc. 4,721.41 05/1412003 3,22006 02111/2003 1,501 .35 0.00 71.00 Eresearch Technology Inc. 2,148.85 05/14/2003 1,472.40 02/1212003 676.45 0000 225.00 Eresearch Technology Inc. 6,809.73 05/14/2003 4,761000 02/1912003 2,048.73 0.00 79.00 Hi-Tech Pharmacal Co Inc. 2,980.98 05/14/2003 1,159.63 03/06t2OO3 1,821 .35 0.00 355.00 Hi-Tecb Pharmacal Co. Inc. 13,395.54 05/1412003 11,445 .20 04/25/2003 1,95034 0.00 49800 IRSA - Sp. ADR 4,658037 05/14/2003 3,887o84 03/03/2003 770.53 0.00 207.00 IRSA Sp. ADR 1,936031 05/14/2003 1,580.42 03/20/2003 355089 0.00 495.00 IRSA Sp. ADR 4,630.31 05/14/2003 3,83738 03/26/2003 792.53 0000 326.1.10 IRSA Sp. ADR 3,049.45 05/14/2003 2,700.91 0410212003 348.54 0.00 100 Omega Protein Corp. 14.33 05/1412003 15.19 03/13/2003 (0086) 0.00 718.00 Possis Medical Inc. 11,872 .72 05/14/2003 13,828.68 04/30/2003 (1,955 .96) 000 718.00 Possis Medical Inc. 11,872 .72 05/14/2003 13,68005 05/01/2003 (1,807 .33) 0000 287oOO Possis Medical Inc. 4,745.78 05/14/2003 5,542.97 05/06/2003 (797 .19) 0.00 517.00 Possis Medical Inc. 8,549.02 05/14/2003 10,40104 05/07/2003 (1,85302) 0.00 12100 Synovis Life Technologies Inc 1,575.91 05/14/2003 1,26014 02/25/2003 315 .77 0.00 82.00 Synovis Life Technologies Inc 1,059.22 05/14/2003 888.78 03/12/2003 17044 0.00 36-00 Synovis We Technologies Inc 465.02 05/14/2003 38700 03/14/2003 78 .02 0.00 617.00 Synovis Life Technologies Inc 7,969o96 05/14/2003 6,546.31 03/18/2003 1,423.65 0.00 70oOO Amencan Physicians Cap Inc 1,476.70 05/15/2003 1,406.66 03/07/2003 7004 0.00 26.00 Amencan Physicians Cap Inc 548.49 05/15/2003 53820 03/21/2003 10 .29 0000 19700 Aceto Corp 3,67938 05/15/2003 3,37424 04129/2003 305.54 000 99.00 Aceto Corp, 1,849.23 05/15/2003 1,675.92 04/30/2003 17331 000 177.00 Aceto Corp. 3,30610 05/15/2003 2,999.71 05/01/2003 306 .49 0.00 236.00 Aceto Corp 4,408o27 05/15/2003 4,23011 05/08/2003 178 .06 000 280.00 Advanced Neuromodulation Sys . 11,780 .69 05/1512003 12,10440 04107/2003 (323o7l) 000 2,273.00 The Bombay Company Inc. 20,443 07 05/15/2003 21,05730 05/08/2003 (614.23) 000 1,361 wOO Digital Generation Systems 3,65364 05/15/2003 2,982.18 03/03/2003 67lo46 0000 2,20loOO Digital Generation Systems 5,90863 05/15/2003 5.01830 03/05/2003 890033 000 0 0 0 0 0 0

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

723.00 Digital Generation Systems 1,940.91 05/15/2003 1,582.80 03/1412003 358.11 0.00 271 .00 Imax Corp 1,990.94 05/15/2003 2,127.35 0513=002 (13641) 000 1,856.00 Imax Corp 13,635 .38 05/15/2003 14,922 .24 05/06/2003 (1,286.86) 0.00 42.00 N U Holdings Inc - Cl B 1,331 .51 05/15/2003 1,095.36 04/08/2003 236.15 0.00 643.00 NU Holdings Inc - Cl B 20,384 .71 05/15/2003 16,417 .40 04/25/2003 3,967.31 0.00 513.00 Netease .com, Inc. ADR 13,871 .53 05/15/2003 12,271 .52 05/02/2003 1,60001 0.00 346.00 Omega Protein Corp 1,598.47 05/1512003 1,752.33 03/13/2003 (153 .86) 0.00 39.00 Proassurance Corp 1,048.13 05/1512003 926.75 04/04/2003 121 .38 0.00 513.00 Proassurance Corp 13,786 .89 05/15/2003 12,26070 04/1012003 1,526.19 000 785.00 Synovis Life Technologies Inc 10,260 .80 05/1512003 8,10827 0212512003 2,152.53 000 214.00 Synovis We Technologies Inc 2,797.21 05/15/2003 2,20289 03/11/2003 594 .32 0.00 454.00 American Physicians Cap Inc 9,448.16 05/1612003 9,094.21 03/05/2003 353 .95 0.00 362.00 American Physicians Cap Inc 7,533.55 05/16t2003 7,198.95 03/06t2OO3 33460 0.00 219.00 American Physicians Cap Inc 4,557.59 05/16t2OO3 4,400.85 03/07/2003 156 .74 0.00 23200 American Physicians Cap Inc 4,828.13 05/16/2003 4,547.20 03/14/2003 280.93 0.00 10.00 Advanced Neuromodulation Sys. 424.36 05/16t2003 432.30 04107/2003 (794) 0.00 858 .00 Ile Bombay Company Inc. 7,183.86 05/1612003 6,867.60 OV23/2003 316.26 0.00 72.00 Ile Bombay Company Inc. 602 .94 05/1 &2003 667.02 05/08/2003 (64.18) 0.00 3,327.00 Digital Generation Systems 8,346.85 05/1&2003 7,22277 03/0412003 1,124.08 0.00 636.00 Digital Generation Systems 1,595.61 05/1612003 1,392.34 03/14/2003 203 .27 0.00 280.00 Omega Protein Corp 1,282.33 05/1612003 1,41807 03/13/2003 (135.74) 0.00 1,768.00 Telesp Celular Participacoes - ADR 6,533.52 05/1612003 7,349.64 04/29/2003 (816.12) 0.00 174.00 Telesp Celular Participacoes - ADR 643 .00 05/16/2003 715.54 05/09/2003 (72 .54) 000 1,300.00 American Physicians Cap Inc 27,054.85 05/19/2003 25,468 .82 03/03/2003 1,586.03 0.00 77.00 American Physicians Cap Inc 1,602.48 05/19/2003 1,509.20 03/14/2003 93 .28 0.00 350.00 Ile Bombay Company Inc. 2,800.88 05/19/2003 2,801 .47 04/23/2003 (059) 000 94.00 Hi-Tech Pharmacal Co Inc. 2,98291 05/19/2003 1,214.00 02/19/2003 1,768.91 0.00 78.00 Hi-Tech Pharmacal Co. Inc. 2,769.84 05/1912003 1,138.14 02120/2003 1,631.70 000 67.00 Hi-Tech Pharmacal Co. Inc. 2,37922 05/1912003 983.48 03/06(2003 1,395.74 0.00 888 .00 Kensey Nash Corp 17,91899 05/19/2003 19,669 .20 04/21/2003 (1,750 .21) 0.00 214.00 Microsemi Corp. 2,38301 05/19/2003 2,009.05 03/07/2003 373 .96 000 428 .00 Microsemi Corp. 4,76602 05/19/2003 5,341 .44 05/14/2003 (575 .42) 0.00 212.00 American Physicians Cap Inc 4,409.39 05/20/2003 4,153.38 03/03/2003 256.01 0.00 1,16400 GlobeSpan Virata Inc 7,240.54 05/20/2003 8,485.56 05/13/2003 (1,245 .02) 000 18.00 Hi-Tech Pharmacal Co. Inc. 59616 05/20/2003 258.80 02/18/2003 337.36 0.00 138.00 Hi-Tech Pharmacal Co. Inc. 4,57057 05/20/2003 1,994.43 02/19/2003 2,576.14 0.00 137.00 Netease corn Inc. ADR 3,448.87 05/20/2003 1,982.21 02/18/2003 1,46666 0.00 875 .00 Netease com Inc. ADR 22,027 .44 05/20(2003 12,915 .00 0212012003 9,11244 0.00 171.00 Netease corn Inc. ADR 4,304.79 05/20/2003 4,090.51 05/02/2003 214.28 0.00 10000 Stratasys Inc 3,191.56 05/20/2003 1,394.22 04/01/2003 1,797.34 0.00 543 .00 Stratasys Inc 17,330.17 05/20/2003 13,118 .88 05/0&12003 4,211.29 0.00 721 .00 Vitesse Semiconductor Corp . 2,893.73 05/20/2003 3,352.99 05/15/2003 (459 .26) 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 28 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Bond Sale Purchase. Realized Unarnortized Guantit Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

803.00 Wcstel Technologies Inc. - A 4,481 .16 05120/2003 4,64585 05/14/2003 (164.69) 000 1,182.00 The Bombay Company Inc. 9,915.21 05/21/2003 9,104.95 04/2112003 81026 0.00 804.00 The Bombay Company Inc 6,74436 05/21/2003 6,43538 04/23/2003 30898 0.00 155.00 Biosite Diagnostic Inc 6,829.60 05/21/2003 7,731.66 05/02/2003 (902.06) 0.00 400.00 Biosite Diagnostic Inc 17,624 .77 05/21/2003 20,860.00 05106r2003 (3,235 .23) 0.00 129.00 Exult Inc 95294 05/21/2003 889 .88 02/2812003 63 .06 0.00 829.00 Exult Inc 6,123.94 05/21/2003 6,595.86 05/1312003 (471 .92) 0.00 216.00 Inspire Pharmaceuticals Inc 3,045.46 05/21/2003 3,290.37 05/13/2003 (244.91) 0.00 130.00 Inspire Pharmaceuticals Inc 1,83291 05/21/2003 1,979.25 05/1612003 (146.34) 0.00 599.00 Microsemi Corp. 6,610.96 05/21/2003 5,623.47 03/07/2003 987 .49 000 748.00 Palomar Medical Tech 2,650.74 05/21/2003 2,658.16 03/0412003 (7.42) 000 665.00 Palomar Medical Tech 2,35661 05/21/2003 2,493.17 03/26f2OO3 (13656) 000 972.00 Palomar Medical Tech 3,444.55 05/21/2003 4,18632 04104/2003 (741 .77) 0.00 253.00 Palomar Medical Tech 896.58 05/21/2003 1,275.12 04/15/2003 (378 .54) 0.00 58.00 Sina Corp 745.11 05/2112003 464.65 03/2012003 28046 0.00 254.00 Sma Corp 3,263.09 05/21/2003 2,07383 03/21/2003 1,189.26 0.00 633.00 Sma. Corp 8,132.02 05121/2003 5,577.30 03/26/2003 2,554.72 0.00 436.00 Sina Corp 5,601.20 05/21/2003 4,005.10 04/04/2003 1,596.10 000 1,055.00 Sohn com Inc. 21,942 .65 05/21/2003 16,943 .72 04/24/2003 4,998.93 0.00 733.00 Sobu com Inc. 15,245 .46 05/21/2003 10,649.24 04/25/2003 4,596.22 0.00 771 .00 Sobu com Inc. 16,035 .81 05/21/2003 11,809.64 04/2&'2003 4,226.17 0.00 534.00 Westel Technologies Inc. - A 3,086.74 05121/2003 3,089.52 05/1412003 (2.78) 0.00 20.00 Ile Bombay Company Inc. 18053 05/2212003 142.80 04/1412003 37 .73 0.00 747.00 The Bombay Company Inc. 6,742.70 05/22/2003 5,619.01 04/1612003 1,123.69 000 154.00 Ile Bombay Company Inc. 1,39006 05/2212003 1,186.26 0412112003 203 .80 000 233.00 Biosite Diagnostic Inc 10,287 .42 05/22/2003 11,622.44 05/02/2003 (1,335 .02) 0.00 1,020.00 Exult Inc 7,518.78 05/22/2003 7,036.27 02/2812003 482.51 0.00 609.00 Exult Inc 4,489.15 05/22/2003 4,199.97 04108/2003 289.18 0.00 485.00 Microsemi Corp. 4,979.89 05/22/2003 4,553.23 03/0712003 426.66 0.00 448.00 Microscmi Corp 4,599.98 05/2212003 4,000.68 03/12/2003 599.30 0.00 267.00 Marvel Enterprises Inc. 5,315.43 05/22/2003 2,419.45 11/1&'2OD2 2,895.98 0.00 1,180.00 Marvel Enterprises Inc. 23,491 .39 05/22/2003 11,803 .89 01/0612003 11,687 .50 0.00 22.00 Sohu com Inc. 498.51 05/22/2003 208.91 03/2012003 289 .60 0.00 160.00 Sohn com Inc. 3,625.52 05/2212003 1,741.79 03/26/2003 1,883.73 0.00 704.00 Sohu com Inc. 15,952 .31 05/2212003 10,227.92 04/25/2003 5,72439 000 318.00 Inspire Pharmaceuticals Inc 4,516.84 05/23/2003 4,812.48 05/14/2003 (295 .64) 0.00 31.00 Inspire Pharmaceuticals Inc 440.32 05/23/2003 471 .98 05/16/2003 (31 .66) 0.00 1,800.LuJ Palomar Medical Tech 5,679.88 05123/2003 6,396.65 03104/2003 (716 .77) 0.00 848.00 Palomar Medical Tech 2,675.86 05/23/2003 2,85968 03/0612003 (183 .82) 0.00 815.00 Aquanuve Inv 5,603.27 05/27/2003 5,97175 05/06/2003 (368 .48) 000 408.00 Aquantive Env 2,805.07 0512712003 2,934.13 05/07/2003 (129 .06) 0.00 732.00 -1he Bombay Company Inc. 6, 4421111 . 1. 4 0,9127,12003 5,174.65 04/1 ir-0003 1,254 Ag 000

0 0 0 0 0 0 0 0 0 0 0 0 0 0

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Sale Purchase Realized Unamortized Bond ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

942 .00 The Bombay Company Inc. 7,395.27 05/27/2003 6,011.88 04114/2003 1,383.39 0.00 731.00 Biosite Diagnostic Inc 31,191 .76 05/27/2003 30,865 .31 04/03/2003 326 .45 000 69.00 Biosite Diagnostic Inc 2,94423 05/27/2003 3,441.84 05/0212003 (497 .61) 0.00 841 .00 Ditech Communications 3,457.98 05/27/2003 3,580.62 05/01/2003 (122.64) 0.00 3,435.00 Ditecli Communications 14,123 .87 05/27/2003 14,613 .34 05/1412003 (489.47) 000 3,449.00 Ditech Communications 14,181 .43 05/27/2003 15,888.73 05/1512003 (1,707.30) 0.00 793.00 Marvel Enterprises Inc 15,935 .06 05/27/2003 7,185.85 11/1812002 8,749.21 000 66.00 N11 Holdings Inc - Cl B 2,294.05 05/27/2003 1,36987 02/28/2003 924 .18 0.00 212 .00 N11 Holdings Inc - Cl B 7,368.77 05/27/2003 5,41289 04/2512003 1,955.88 000 35600 Netease.com, Inc. ADR 11,106.95 05/27/2003 5,15086 02/18/2003 5,956.09 000 11400 Sobu com Inc. 2,960.10 05/27/2003 1,082.51 03/20/2003 1,877.59 000 1,498.00 Ile Bombay Company Inc. 13,60209 05/28t2OO3 10,589.66 04/11/2003 3,012.43 000 302 .00 Closure Medical Corporation 5,683.55 05/28/2003 6,523.20 05114r2OO3 (839 .65) 0.00 367 .00 Closure Medical Corporation 6,906.83 05/28/2003 7,752.25 05/1912003 (84542) 0.00 560.00 Marvel Enterprises Inc 11,347.97 05/28/2003 5,074.50 11/18/2002 6,27347 0.00 305.00 N11 Holdings Inc - Cl B 10,645.13 05/28f2003 6,330-46 02r28/2003 4,31467 0.00 423.00 N11 Holdings Inc - C1 B 14,763 .57 05/28f2003 8,777.25 03/1 V2003 5,986.32 0.00 314 .00 Netease coin Inc. ADR 9,909.37 05/2&-2003 4,543.17 02/1 V2003 5,366.20 000 700.00 Sohu com Inc. 17,790 .85 05/2&'2003 6,34403 03/1712003 11,446.82 0.00 8 00 Sohu com Inc 20332 05/28/2003 72.42 03/19/2003 130.90 000 36.00 Sohu com Inc. 91496 05/2812003 341 .85 03/20/2003 573 .11 0.00 489 .00 Aceto Corp. 9,161 .81 05/29/2003 8,239.65 04/28/2003 922.16 0.00 64.00 Aceto Corp. 1,19909 05/29/2003 1,083.42 04/30/2003 115 .67 0.00 175-00 Aceto Corp. 3,27877 05/29/2003 2,905.91 05/0212003 372.86 000 644.00 The Bombay Company Inc. 5,833.46 05/2912003 4,552.56 04/11/2003 1,28090 0.00 349-00 Closure Medical Corpoiation 6,368.95 05/29f2OO3 6,247.10 O4f3Of2OO3 121 .95 0.00 41.00 Closure Medical Corporation 748.21 05/29/2003 866 .06 05/19/2003 (117 .85) 0.00 96-00 Closure Medical Corporation 1,751 .92 05129/2003 1,99785 05/20/2003 (245 .93) 000 464.00 Hi-Tech Pharmacal Co Inc. 15,520 .07 05/2912003 6,671 .35 0211812003 8,84872 000 26400 IRSA - Sp. ADR 2,314.22 05/29/2003 2,015.61 03/20/2003 298.61 0.00 1,337.00 Marvel Enterprises Inc. 27,665 .50 05/29/2003 12,115 .36 11/18/2002 15,55014 0.00 322-00 Netease com Inc. ADR 10,3 A 1 .51 05/2912003 3,67103 12/31/2002 6,670.48 0.00 690.00 Netease com Inc. ADR 22,160 .38 05/29/2003 9,98340 02/1 V2003 12,17698 0.00 286.00 Siria Corp 4,376.08 05/29/2003 1,799.60 12/20/2002 2,57648 000 311-00 Sina Corp 4,75860 05/29/2003 2,168.45 01/02/2003 2,59015 0.00 1,006.00 Sina Corp 15,392 .78 05/2912003 6,673.40 02/14/2003 8,719.38 000 1,028.00 Sina Corp 15,729 .40 05129/2003 7,795.22 03/1912003 7,934.18 0.00 145.00 Sma Corp 2,218.64 05/29/2003 1,16162 03/20/2003 1,05702 0.00 728.00 Closure Medical Corporation 13,380 .00 05/30t2OO3 12,80552 04128/2003 574.48 0.00 37 .00 Closure Medical Corporation 680.03 05/3012003 66230 04/3012003 17 .73 0.00 1,095.00 Ditech Communications 4,982.71 05/3012003 4,662.04 05/01/2003 32067 0.00 702.00 Ditech Communications 3,194.40 05/3Or2OO3 2,96467 05/13/2003 229.73 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 30 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056404 -- RHD FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceeds Date Cost Date Gain f- Loss) Prendurn Discount)

1,210.00 Exult Inc 7,916.20 05/30/2003 8,236.71 02/27/2003 (320 .51) 0.00 745 .00 Exult Inc 4,874.02 05/30/2003 5,137.89 04108/2003 (263 .87) 0.00 796.00 Exult Inc 5,207.68 05/30/2003 5,47027 04/1002003 (262 .59) 000 373 .00 Exult Inc 2,44028 05/30/2003 2,538.00 04111/2003 (97 .72) 0.00 699.00 Exult Inc 4,573.08 05/3012003 4,753.20 04/15/2003 (180 .12) 0.00 232.00 Hi-Tech Pharmacal Co. Inc. 8,013.48 05/30/2003 3,335.67 02118/2003 4,67781 0.00 187 .00 IRSA - Sp. ADR 1,641 .33 05/30/2003 1,409.83 02/28/2003 23150 0.00 271 .00 IRSA - Sp. ADR 2,378.61 05/3012003 2,06461 03/18/2003 314.00 0.00 74.00 IRSA - Sp. ADR 649.51 05/3012003 564.98 03120/2003 84.53 0.00 454.00 Sina Corp 7,136 13 05/30/2003 2,856.70 12/20/2002 4,279.43 0.00 643.00 Sohu com Inc. 17,798.56 05/30/2003 5,82069 03/19/2003 11,97787 000 84.00 Stratasys Inc 2,165.42 05/30/2003 1,062.94 03/21/2003 1,102.48 0.00 309.00 Stratasys Inc 7,965.64 05/30/2003 4,084.98 03f26/2003 3,88066 0.00 340.00 Stratasys Inc 8,764.79 05130/2003 4,498.47 03/28/2003 4,266.32 0.00 10.00 Stratasys Inc 257 .79 05/3012003 139 .42 0410112003 118 .37 0.00 257.00 Stratasys Inc 6,625.15 05/30/2003 6,843.91 05/22/2003 (218 .76) 0.00 186-00 Closure Medical Corporation 3,422.24 06/02/2003 3,202.77 04/24/2003 219 .47 0.00 278.00 Closure Medical Corporation 5,114.95 06/02/2003 4,763.86 04/25/2003 35109 0.00 34.00 Closure Medical Corporation 625 .57 06102/2003 598.06 04128/2003 27.51 0.00 538 .00 Ditech Communications 2,331.57 06102/2003 2,272.07 05/13/2003 59.50 0.00 261 .00 Hi-Tech Pharmacal Co. Inc. 9,069.19 06tO2/2003 3,752.63 02/1 V2003 5,316.56 0.00 221 .00 IRSA - Sp. ADR 1,973.52 06tO2/2003 1,666.16 02/28/2003 307.36 0.00 78.00 IRSA - Sp. ADR 696 .54 06f02/2003 585.00 03/05/2003 111 .54 0.00 554.00 Stratasys Inc 15,417 .20 06/02/2003 6,462.13 03/03/2003 8,955.07 0.00 396.00 Stratasys Inc 11,020.24 06/02r2003 5,011 .02 03/21/2003 6,00922 0.00 539.00, Aquantive Inv 4,155.49 06tO3/2003 3,593.24 04/2312003 562.25 0.00 1,00600 Aquantive Inv 7,755.89 06/03/2003 6,750.26 0412412003 1,00563 0.00 17300 Aquantive Inv 1,333.77 06103/2003 1,244.13 05/07/2003 89.64 0.00 1,597.00 Aquantive Inv 12,312 .28 06/03/2003 11,227 .87 05/2212003 1,084.41 0.00 1,122.00 Biolase Tech Inc 16,223 .35 06/03/2003 8,719.51 02/27/2003 7,503.84 0.00 280.00 Closure Medical Corporation 5,207.75 06103/2003 4,607.90 04/22/2003 599 .85 0.00 1,026.00 Closure Medical Corporation 19,082.70 06t03/2003 17,525 .72 04/23/2003 1,556.98 000 167.00 Closure Medical Corporation 3,106.05 06103/2003 2,861.75 04125/2003 24430 000 72.00 Ceradyne Inc. 1,154.82 06/03/2003 1,105.20 05/27/2003 49.62 0.00 475.00 Ceradyne Inc. 7,61864 06103/2003 7,92191 05/28/2003 (30327) 000 105 .00 Ditech Communications 430.90 06103/2003 441 .13 05/02/2003 (1023) 000 197 .00 Ditech Communications 808 .45 06103/2003 831 .97 05/13/2003 (23 .52) 0.00 102 .00 IRSA - Sp. ADR 931 .96 06103/2003 765.00 03/05/2003 16696 0.00 78.00 NH Holdings Inc - C1 B 2,696.33 06103/2003 1,474.59 02/27/2003 1,221 .74 000 197 .00 NE Holdings Inc - Cl B 6,809.97 O6fO3/2003 4,087.75 03/18/2003 2,722.22 000 293-00 Stratasys Inc 7,923.31 06(03/2003 3,417.70 03/03/2003 4,505.61 0.00 648-00 Stfatasys Inc 17,5231 .23 06'03=011 7,462.37 03/U/2003 !0,060 86 0 (X)

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

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22.00 Biolase Tech Inc 319.93 06f0412003 153 .77 02/19/2003 166 .16 0.00 353 .00 Biolase Tech Inc 5,133.37 06f04/2003 2,57690 02/21/2003 2,556.47 0.00 450.00 Biolase Tech Inc 6,543.95 06104/2003 3,279.74 02/2412003 3,264.21 0.00 29600 Biolase Tech Inc 4,304.47 06t0412003 2,30033 02/2712003 2,004.14 0.00 1,669.00 Ditech Communications 6,854.66 06tO4/2003 7,001 45 04130/2003 (146.79) 0.00 1,40700 Ditech Communications 5,778.61 06tO4/2003 5,911 19 05/02/2003 (13258) 000 5700 Digital River Inc. 1,097.12 06tO4/2003 976.32 04129/2003 12080 0.00 63200 Digital River Inc. 12,164.60 06(04/2003 11,63569 05/05/2003 528.91 0.00 218.00 Digital River Inc. 4,19602 06104/2003 4,243.02 05/29/2003 (47 .00) 000 73.00 Digital River Inc. 1,40509 06104/2003 1,44460 06(02/2003 (3951) 000 40.00 Digital River Inc. 769.91 06tO4/2003 786.80 06103/2003 (16.89) 0.00 665 .00 Dot Hill Systems Corp 6,770.58 06t04/2003 6,430.22 05/23/2003 34036 000 79.00 IRSA - Sp ADR 740.66 06104/2003 592.50 03/05/2003 148 .16 0.00 38.00 IRSA - Sp. ADR 35627 06104/2003 281 .48 03/14/2003 7479 0.00 446.00 NU Holdings Inc - C1 B 15,651 .72 06tO4/2003 8,228.57 02112/2003 7,423.15 0.00 156.00 NU Holdings Inc - C1 B 5,474.59 06104/2003 2,949.18 02/2712003 2,525.41 000 1,946.00 Osteotech Inc. 26,883 .30 06(04/2003 27,338 .19 05/3012003 (45489) 0.00 396.00 Sonus Network 2,093.25 06104/2003 1,51003 05/1212003 58322 0.00 2,616.00 Sonus Network 13,828.12 06tO4/2OO3 10,572 .17 05/20/2003 3,25595 0.00 271 .00 Synovis Life Technologies Inc 5,070.60 06tO4/2003 3,94606 05/21/2003 1,124.54 0.00 142 .00 Ditech Communications 62385 06105/2003 595.69 04/30/2003 2816 0.00 1,308.00 Ditech Communications 5,74645 06(05/2003 5,459.89 05/05/2003 28656 0.00 692.00 Ditech Communications 3,040.17 06105/2003 2,750.59 05/06/2003 289 .58 0.00 661.00 Digiud River Inc. 12,604.67 06105/2003 11,321 .94 04/29/2003 1,282.73 000 101 .00 Digital River Inc. 1,925.98 06105/2003 1,722.05 05/0212003 203.93 0.00 281.00 Dot Hill Systems Corp 2,864.26 06105/2003 2,717.13 05/23/2003 147 .13 0.00 768.00 [max Coip 5,528.52 06105/2003 5,761 .61 05/2&-2003 (233 .09) 0.00 30800 Proassurance Corp 8,42802 06105/2003 8,657.97 0610212003 (22995) 0.00 411.00 Ask Jeeves; Inc 5,300.50 06(06t2003 4,084.39 05/06t2003 1,21611 0.00 44000 Ask Jeeves Inc 5,674.50 06tO6/2003 5,33025 05/1612003 34425 000 127 .00 Ask Jeeves Inc 1,637.87 06(06t2003 1,443.90 05/19/2003 19397 0.00 331.00 Biolase Tech Inc 4,517.93 06106/2003 2,31359 02/1912003 2,20434 0.00 2,467.00 GlobeSpan Virata Inc 21,606.19 0610612003 18,675 .19 05/2812003 2,931 .00 0.00 494.00 Dot Hill Systems Corp 5,078.43 0610612003 4,776.73 05/23/2003 301 .70 000 880.00 Osteotech Inc 11,94983 06106t2003 12,13344 05/28/2003 (183 .61) 0.00 216.00 Osteotech Inc. 2,933.14 06106t2003 3,03445 05/3Ot2OO3 (101 .31) 000 259.00 Packeteer Inc 3,721.65 06/06t2003 3,958.66 05/13/2003 (237 .01) 000 50500 Packeteer Inc 7,25651 0610612003 8,201.20 05/28/2003 (94469) 0.00 51500 Sohu com Inc. 15,10820 06106/2003 4,342.02 02/1812003 10,76618 0.00 17.00 Sohu com Inc. 498 .72 06t0612003 153.89 03/19/2003 344.83 0.00 483.00 Westel Technologies Inc. - A 4,017.84 06/06(2003 2,794.45 05/14/2003 1,223.39 0.00 1,824.00 Westel Technologies Inc. - A 15.172.95 06/06t2003 13,07005 05128/2003 2,102.90 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 32 Gains and Loss Repoyffrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION- EMERGING GROWTH

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578 .00 Westel Technologies Inc. - A 4,808.10 0610612003 4,635.50 05/3012003 17260 0.00 428 .00 Ask Jeeves Inc 5,190.96 06/09/2003 2,94828 02120/2003 2,24268 000 118 .00 Ask Jeeves Inc 1,431.15 06109/2003 1,172.65 05/06/2003 258.50 000 2,585.00 Ditech Communications 11,416.44 06f09/2003 10,27497 05/0612003 1,14147 000 1,077.00 Ditech Communications 4,756.48 06109/2003 4,23175 05/07/2003 524.73 000 58000 GlobeSpan Vuata Inc 4,796.66 06tO9/2003 3,97387 05/07/2003 822 .79 0.00 144.00 GlobeSpan Virata Inc 1,190.90 06t0912003 1,049.76 05/1312003 141 .14 0.00 862 .00 GlobeSpan Virata Inc 7,128.83 06tO9/2003 6,004.09 05/2312003 1,124.74 000 39300 GlobeSpan Virata Inc 3,250.15 06tO9/2003 2,975.01 05/28/2003 275.14 0.00 302 .00 Oninivision Technologies 9,806.98 06tO9/2003 4,99067 11121/2002 4,816.31 0.00 221 .CO Proassurance Corp 6,222.18 06tO9/2003 5,251 .58 04/04/2003 97060 0.00 142.00 Proassurance Corp 3,997.96 06t0912003 3,991 .66 06tO2/2OO3 6.30 0.00 4,317.00 Aradigm Corp. 6,597.96 W1012003 9,369.46 06tO6t2OO3 (2,771 .50) 0.00 387.00 Biolase Tech Inc 5,053.98 W1012003 2,670.03 02/1&'2003 2,383.95 0.00 217.00 Biolase Tech Inc 2,833.88 W1012003 1,51676 02/19/2003 1,317.12 0.00 165.00 Biosite Diagnostic Inc 6,998.85 06tlO/2003 6,816.27 04/02/2003 182 .58 0.00 235.00 Biosite Diagnostic Inc 9,968.07 W1012003 9,922.50 04103/2003 45.57 0.00 1,381.00 Ditech Communications 6,022.90 06/10/2003 5,426.23 05/07/2003 596.67 0.00 621 .00 Westel Technologies Inc. - A 5,264.53 06tlO/2003 3,263.67 05/07/2003 2,ODO.86 0000 1,855.00 Westel Technologies Inc. - A 15,725 .76 06/10/2003 10,294 .23 05/08/2003 5,431 .53 0000 409.00 Westel Technologies Inc. - A 3,467.30 06/10t2003 2,36632 05/14/2003 1,100.98 0.00 20000 Biosite Diagnostic Inc 8,725.59 06(11/2003 8,262ol4 04/02/2003 463.45 0.00 679oOO Sonus Network 3,077.50 06111/2003 2,433.63 05/06t2OO3 643.87 0.00 1,889.W Sonus Network 8,561.71 06tl 1 t2003 7,203.17 05/12/2003 1,358.54 0.00 869.00 Westel Technologies Inc. - A 7,628o93 06(1112003 4,567.03 05/07/2003 3,061-90 0.00 130.00 Ceradyne Inc. 2,01653 06/12/2003 1,976oOO 05/14/2003 4053 000 461.00 Ceradyne Inc. 7,150.92 06(12/2003 7,030.25 05/22/2003 12067 000 331 .00 Ceradyne Inc. 5,134.39 06/12/2003 5,080.85 05/27/2003 53 .54 000 359.00 Digital River Inc. 6,379.02 06/12/2003 5,807.22 05/01/2003 571 .80 0.00 431.00 Digital River Inc. 7,658.38 06112/2003 7,34855 05/02f2OO3 30983 000 1,198oOO Imax Corp 8,275o44 06/12/2003 7,196.87 09/17/2002 1,078.57 0.00 1,045oOO Imax Corp 7,218.56 0611212003 7,839.69 05/2912003 (621 .13) 0.00 963.00 [max Corp 6,652.13 06/12/2003 7,381 .20 06109/2003 (729oO7) 0000 423.00 N11 Holdings Inc - Cl B 14,744.02 06112/2003 7,804.22 02/12/2003 6,939o8O 0.00 60600 Packeteer Inc 8,724.89 06/1212003 9,262.35 05/13/2003 (537 .46) 0000 533.00 Packeteer Inc 7,673.88 06t 12/2003 8,13OA4 05/15/2003 (456056) 0000 414.00 Sonus Network 1,86463 06/1212003 1,430.16 05/05/2003 434.47 0000 1,118.00 Sonus Network 5,035041 06/1212003 4,007.07 05/0612003 1,028.34 0.00 1,380.00 Sonus Network 6,215.45 06112/2003 4,841 .80 05/0912003 1,37365 0.00 57.00 Staar Surgical Co. 612 .44 06/12/2003 688056 05121/2003 (776 .12) 0000 590-00 Staar Surgical Co. 6,339.25 0611212003 7,230.92 05/22/2003 (891 .67) 0.00 369 .00 Westel Technologies inc. - A 3,21 1 88 06/1l2r .003 1,867.14 05!0512003 1,34A.74 0.00

0 0 0 40 0 0 0 0 0 0 0

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- 1,oss) Premium Discount) 49.00 Westel Technologies Inc. - A 426.51 06112/2003 257 .52 05/0712003 16899 000 546.00 Biolase Tech Inc 7,34788 06/13/2003 3,76702 02/18/2003 3,58086 0.00 1,441 .00 Ceradyne Inc. 21,432 .13 06/13/2003 19,741 .70 05/0&-2003 1,690.43 0.00 216.00 Ceradyne Inc. 3,212.59 06/13/2003 2,998.81 05/09/2003 213.78 0.00 533.00 Ceradyne Inc. 7,92736 0611312003 8,101 .60 05/14/2003 (174 .24) 0.00 303.00 [max Corp 2,17719 06/13f2003 1,814.64 09/1612002 362.55 0.00 44500 Imax Corp 3,197.53 06/1312003 2,673.29 09/17/2002 524.24 0.00 271 .00 Komag Inc 3,01337 06113/2003 2,512.17 05/15/2003 501 .20 0.00 393.00 Netease.com Inc. ADR 13,21462 06/13/2003 4,48048 12/31/2002 8,734.14 000 53100 Omnivision Technologies 15,960 .42 06/13/2003 8,774.99 11/21/2002 7,185.43 0.00 1,013.00 Oninivision Technologies 30,448-03 06113/2003 16,133 .95 02/14/2003 14,314 .08 0.00 450.00 Sonus Network 2,005.26 06/1312003 1,490.74 04/29/2003 514.52 0.00 3,036.00 Sonus Network 13,52895 06/13/2003 10,487 .82 05/05/2003 3,041 .03 0.00 331 .00 Westel Technologies Inc. - A 2,88439 06/13/2003 1,67486 05/05/2003 1,20953 0.00 25.00 Westel Technologies Inc. - A 217 .85 06/13/2003 12385 05/06/2003 94.00 0.00 496.00 Biolase Tech Inc 6,421.85 061162003 3,422.05 0211 W003 2,99980 0.00 21900 Biosite Diagnostic Inc 9,219.46 06/16t2003 9,047.04 04/0212003 172 .42 0.00 54400 Netease.corn Inc ADR 18,223 .14 06116(2003 6,201 .98 12131/2002 12,021 .16 0.00 129 .00 OrnDivision Technologies 3,845.52 06tl6/2003 2,054.57 02/14/2003 1,790.95 0.00 73.00 Packeteer Inc 1,051 15 061162003 1,113.55 05/15f2OO3 (62.40) 0.00 148 .00 Packeteer Inc 2,131 10 06/16/2003 2,237.92 05/1612003 (106 .82) 000 90,190 Packeteer Inc 13,016 .98 06116/2003 13,768 .19 05/19/2003 (751 .21) 0.00 3600 Packeteer Inc 51838 061162003 538 .21 05MM03 (19 .83) 0.00 1,439.00 QUICKLADGIC CORP 4,173.74 06/16/2003 5,22387 06104/2003 (1,05013) 0.00 720.00 QUICKLADGIC CORP 2,088-32 0611612003 2,59701 06105/2003 (50869) 000 61700 QUICKLOGIC CORP 1,789.58 0611612003 2,401 .27 0611212003 (611 .69) 0.00 463.00 QUICKLOGIC CORP 1,342.91 06/16r2003 1,82885 06113/2003 (485 .94) 0.00 1,621 .00 Sonus Network 7,106.55 06116/2003 5,36997 04/2912003 1,736.58 0.00 591 .00 Vitesse Semiconductor Corp. 2,986.12 0611612003 2,937.57 05/29/2003 48.55 0.00 89400 Vitesse Semiconductor Corp. 4,517 08 06tl6t2003 4,86747 06105f2003 (350 .39) 000 536.00 Advanced Digital Info Corp. 5.263.27 06117/2003 5,856.01 05/27/2003 (592 .74) 0.00 1,79400 Advanced Digital Info. Corp 17,61624 06117/2003 20,021 .04 06/05/2003 (2,404 .80) 0.00 775.00 Aquantive Inv 7,18391 06tl7/2003 5,166.54 04/2312003 2,017.37 000 54300 Biolase Tech Inc 6,559.51 06117/2003 3,746.32 02/18/2003 2,813 19 0.00 37300 Corrections Corp of America 8,733.20 06117/2003 8,269.63 05/20/2003 46357 0.00 353.00 Corrections Corp of America 8,264.93 06117/2003 7,969.79 05/21/2003 295.14 0.00 363.00 Corrections Corp of America 8,499.06 06t 1712003 8,41027 05123/2003 8879 000 26200 GlobeS pan Virata Inc 2,10685 06117/2003 1,755.87 05/02/2003 350 .98 0.00 929.00 GlobeSpan Virata Inc 7,470.47 06117/2003 6,36504 05/07/2003 1,105.43 0.00 2,027.00 Netegnty Inc. 11,593 .63 0611712003 12,802 .73 05/1312003 (1,209 .10) 0.00 63.00 Netegrity Inc. 360.33 06/17/2003 397 .05 05/21/2003 (36 .72) 000 32.00 Ornrivision Technologies 967.37 06117/2003 509.66 02/1412003 457.71 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 34 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RBD FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unarnortized Bond Ouanti Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

84.00 Sonus Network 372.93 06/17/2003 278 .27 04129/2003 94 .66 0.00 799-00 Sonus Network 3,547.26 06117/2003 2,62447 05/02/2003 922 .79 000 392.00 Telesp Celular Participacoes: - ADR 1,54423 06tl7/2003 1,509.91 04/2212003 34 .32 0.00 2,156-00 Telesp Celular Participacoes - ADR 8,493.28 06tl7/2003 8,545.35 04/23/2003 (52.07) 0.00 647-00 Telesp Celular Participacoes - ADR 2,548.77 06117/2003 2,581.53 04/25/2003 (32.76) 0.00 704-00 Telesp Celular Participacoes - ADR 2,773.32 06/17/2003 2,895.06 05/09/2003 (121 .74) 000 360-00 Tollgrade Communications 6,839.67 06/17/2003 7,426.80 06105/2003 (587-13) 0.00 256-00 Vitesse Semiconductor Corp. 1,272.52 06/17/2003 1,116.60 05/14/2003 155 .92 0.00 378-00 Vitesse Semiconductor Corp . 1,878.96 06tl7/2003 1,757.88 05/15/2003 121-08 0.00 1,312.00 Vitesse Semiconductor Corp . 6,521.67 06117/2003 6,295.96 05/28/2003 225 .71 000 591-00 Vitesse Semiconductor Corp 2,937.73 06/17/2003 2,937.57 05/29/2003 0.16 000 720-00 Biolase Tech Inc 8,94010 06/18/2003 4,96750 02/18/2003 3,972.60 000 134-00 Biolase Tech Inc 1,663.85 06tl8/2003 913 .97 02/20/2003 74988 0.00 101.00 Cell Therapeutics Inc. 1,113.10 06(l8n003 1,291.79 05f27f2OO3 (178-69) 000 432-00 Cell Therapeutics Inc. 4,760.97 06t 18/2003 5,620.36 06102/2003 (859.39) 0.00 405-00 Hams Interactive, Inc. 2,626.26 06118/2003 2,759.71 06tI612003 (133 .45) 000 745-00 Hams Interactive, Inc. 4,831.02 06118/2003 5,087.68 06tl7/2003 (25666) 0.00 1,551-00 Netegnty Inc. 8,181.06 06118/2003 9,775.02 05/21/2003 (1,593.96) 0.00 813-00 Netegnty Inc. 4,28833 WIV2003 5,105.64 06102r2OO3 (817.31) 000 24-00 Ommvision Technologies 73892 06118/2003 382.25 02114/2003 35667 000 965-00 Praecis Pharmaceuticals Inc 4,720.48 06/18/2003 5,321.98 06102/2003 (601 .50) 0.00 869-00 Praecis Pharmaceuticals Inc 4,250.88 06118/2003 4,799.66 06103/2003 (548.78) 0.00 1,574.00 Praecis Pharmaceuticals Inc 7,699.52 0611&'2003 8,721.06 0610412003 (1,021 .54) 000 630-00 Sohu com Inc. 20,354.66 06tl8/2003 4,103.60 12123/2002 16,25106 0.00 34-00 Sohu com Inc. 1,09851 06tl8/2003 286.66 02/18/2003 811 85 0.00 4001-J Sobu com Inc. 12,923 .59 06(18/2003 3,317.48 02119/2003 9,606.11 0.00 1,310-00 Sonus Network 6,06159 06tl8/2003 4,302.95 05/02/2003 1,758.64 0.00 730-00 Telesp Celular Participacoes - ADR 2,757.02 06/18/2003 2,69867 04117/2003 58 .35 0.00 1,045-00 Telesp Celular Participacoes - ADR 3,946.69 06118/2003 4,025.15 04/2212003 (78.46) 000 102-00 Advanced Digital Info. Corp. 991 .41 06119/2003 1,114.39 05/27/2003 (122-98) 0.00 606-00 Advanced Digital Info. Corp 5,890.16 06t 1912003 6,503.53 06102f2003 (613 .37) 0.00 1,202.00 Advanced Digital Info. Corp 11,683 .13 06/19/2003 13,088.82 06104/2003 (1,405.69) 0.00 602-00 Centilhurn Com unications Inc 6,45982 06tl9/2003 5,610.46 05/0612003 849 .36 0.00 1,364.00 Ccntilhurn Communications Inc 14,636.53 06119/2003 12,767 .99 05/15/2003 1,86854 000 801 .00 Netegnty Inc. 4,212.24 06119f2003 5,030.28 0610212003 (818.04) 0.00 1,101-00 Netegnty Inc. 5,789.86 06119/2003 6,81069 06tO5/2OO3 (1,02083) 000 419.00 Netease com Inc. ADR 12,940.58 06t 19/2003 15,314.20 06117/2003 (2,373 .62) 0.00 388-00 Sohu com Inc. 10,581 .31 06/1912003 2,527.30 12123/2002 8,054.01 000 1,329-00 Telesp Celular Participacoes - ADR 4,995.66 06119/2003 4,91306 04/17/2003 82 .60 0.00 385.00- Advanced Digital Info. Corp. 3,615.09 06/20/2003 3,784.55 05/22/2003 (169.46) 0.00 469-00 Advanced Digital Info. Corp. 4,403.84 06/20/2003 5,002.68 05128/2003 (598 .84) 0.00 752-W Advaucr-d Digital info. Corp. 7.061.17 06MC003 8,070.39 06102=03 OX" 1414) 00

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Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount) 174.00 Advanced Digital Info Corp 1,633.83 06/20/2003 1,841 .13 06f03/2003 (207.30) 0.00 187.00 Ask Jeeves Inc 2,443.71 06120/2003 1,288.15 02/20/2003 1,15556 0.00 489.00 Ask leeves Inc 6,39024 06/2012003 6,549.86 0611712003 (159.62) 0.00 937.00 Ask Jeeves Enc 12,244 .70 06120/2003 13,378.11 0611812003 (1,133 .41) 0.00 113.00 Ask Jeeves Inc 1,476.68 06/20/2003 1,637.06 06119/2003 (160.38) 0.00 116.00 Centithurn Communications Inc 1,191 .31 06120t2003 1,081.09 05/0612003 110.22 0.00 115.00 Centilhurn Commimecations Inc 1,181 .04 06120/2003 1,019.77 05/07/2003 161.27 000 69.00 Centilhurn Communications Inc 708.62 062012003 627.90 05/1312003 80.72 0.00 652.00 Centilhum Communications Inc 6,695.98 06r2O/2003 5,88000 05/14/2003 815.98 0.00 1,014.00 Centithum Communications Inc 10,41369 06/20/2003 8,83458 05/23/2003 1,579.11 0.00 417.00 Digene Corporation 10,711 .97 06120/2003 8,262.40 05/01/2003 2,449.57 0.00 359.00 FINDWHAT.COM 6,860.63 06/20/2003 6,135 13 06118/2003 725.50 0.00 371 .00 Komag Inc 4,130.66 06t2O/2003 3,264.80 05/13/2003 865.86 0.00 329.00 Komag Inc 3,663-04 0612012003 3,043.25 05/14/2003 619.79 000 28.00 Komag Inc 311.75 06120/2003 259.56 05/15/2003 52.19 0.00 815.00 Telesp Celular Participacoes - ADR 3,019.78 0612012003 3,012.90 04/17/2003 6.88 0.00 5,045.00 Vitesse Semiconductor Corp. 27,38525 06/2012003 18,993.63 05/0912003 8,391.62 0.00 107.00 Vitesse Semiconductor Corp. 580.82 06/20/2003 441.88 05/13/2003 13894 000 784.00 Vitesse Semiconductor Corp. 4,255.71 06120/2003 3,419.60 05/14/2003 836.11 0.00 1,182.00 Vitesse Semiconductor Corp. 6,416.13 W2012003 6,66364 06/18/2003 (247.51) 000 764.00 Vitesse Semiconductor Corp. 4,147.14 06/20/2003 4,544.96 06/1912003 (397.82) 0.00 120.00 Westel Technologies Inc. - A 1,05045 O6/2Or2OO3 591.62 05/02/2003 458.83 0.00 1,287.00 Westel Technologies Inc. - A 11,266.12 06120/2003 6,375.59 05/06/2003 4,890.53 0.00 123.00 Aquantive Inv 1,19822 06123/2003 819.98 04/23/2003 378.24 0.00 48.00 Aquantive Inv 46760 06r23/2003 31200 04/25/2003 155.60 0.00 1,552.00 Aquantive Inv 15,119 .02 06/23/2003 10,287.59 04/30/2003 4,831 .43 0.00 1,627.00 Cell Therapeutics Inc 14,887 .64 06123/2003 20,809.33 05/27/2003 (5,921.69) 0.00 250.00 Centidium Communications Inc 2,436.06 06/23/2003 2,11403 05/09/2003 322.03 0.00 625.00 Centithurn Communications Inc 6,090.14 06/23/2003 5,445.38 05/23/2003 644.76 0.00 2,955.00 ELoan Inc. 17,275 .05 06/23/2003 16,604.10 06/13/2003 670.95 0.00 361.00 Magma Design Automation 6,727.85 06/23/2003 6,901.60 0610612003 (17375) 0.00 476.00 Magma Design Automation 8,871 .08 06t23/2003 8,725.08 06113/2003 146.00 0.00 650.00 Accredited Home Lenders 13,882 .04 06/2312003 11,79750 06t0412003 2,084.54 000 52700 Micromuse, Inc. 4,396.66 06/2312003 4,975.04 05/2812003 (578.38) 000 1,797.00 Micromuse, Inc. 14,992 .02 06123/2003 17,430.90 05/30/2003 (2,438.88) 000 2,30600 Netcgnty Inc. 11,47555 06/23/2003 14,212.05 05/1412003 (2,736.50) 0.00 1,043.00 Netegnty Inc. 5,19037 06/2312003 6,39359 06104/2003 (1,203.22) 0.00 1,219.00 Netegnty Inc. 6,066.22 06(23/2003 7,540.63 06105/2003 (1,474.41) 0.00 1,406.00 Westel Technologies Inc. - A 11,712 .54 06/2312003 6,931.76 05/0212003 4,780.78 000 1,004.00 GlobeSpan Virata Inc 7,510.76 06/24/2003 6,728.61 05/02/2003 782.15 0.00 925-00 Accredited Home Lenders 20,423.59 06(25/2003 16,784 .96 06tO3/2003 3,638.63 0.00 246.00 Accredited Home Lenders 5,431 .57 06/25/2003 4,464.90 06tO4/2003 96667 0.00 Dfiehaus Capital Management Friday January 23, 2004 16:50:14 Page 36 Gains and Loss Reportfrom 1.110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount

517 .00 Aquantive Inv 5,298.32 06126/2003 3,360.50 04125/2003 1,937.82 0.00 2,119.00 E-Loan Inc 11,855 .07 06t2612003 11,862 .07 06/12/2003 (7.00) 0.00 331 .00 E-Loan Inc 1,851 .83 06/26t2003 1,859.88 06t 13/2003 (8.05) 0.00 116-00 Accredited Home Lenders 2,333.81 06/26t2003 2,10492 06103/2003 228.89 0.00 347.00 Accredited Home Lenders 6,981 .31 06/26/2003 6,246.00 06tO5/2003 735 .31 0.00 1,72500 Hams Interactive, Inc. 10,967 .88 06t27/2003 11,754 .32 06tl6/2003 (786 .44) 000 303.00 Magma Design Automation 5,269.83 06t27/2003 5,045.83 05/07/2003 224.00 000 318.00 Magma Design Automation 5,53071 06127/2003 5,377.38 05/13/2003 153 .33 0.00 390-00 Magma Design Automation 6,782.95 06127/2003 6,805.50 05/15/2003 (22 .55) 0.00 491 .00 Magma Design Automation 8,539.56 06t27/2003 8,77908 05/29/2003 (239-52) 0.00 87.00 Magma Design Automation 1,513.12 06t2712003 1,594.71 06t 13/2003 (81 .59) 0.00 703 .00 Aquantive Inv 7,350.36 06/30/2003 4,569.50 04125/2003 2,780.86 0.00 1,427.00 E-Loan Inc. 8,057.88 06130/2003 6,94773 05f2&'2003 1,11015 000 14.00 E-Loan Inc. 79.05 06/30/2003 78.37 06/1212003 068 0.00 619.00 Dot Hill Systems Corp 8,705.51 06130/2003 7,063.53 06t162003 1,641.98 0.00 173-00 K V H Industries Inc 4,278.09 0613012003 3,421 .77 05/22/2003 856.32 0.00 332.00 K V H Industries Inc 8,209.97 06/30/2003 7,596.16 06111/2003 613 .81 0.00 419.00 Accredited Home Lenders 8,086.31 06130/2003 7,542.00 06105/2003 544.31 0.00 531 .00 Micromuse, Inc. 4,217.69 06/30/2003 5,012.80 05/28f2OO3 (795 .11) 0.00 1.00 Centilhum Communications Inc 9.56 07/01/2003 8.09 05/05/2003 147 0.00 296.00 Centillium Communications Inc 2,829.62 07/01/2003 2,503.01 05/09/2003 32661 0.00 1,303.OD GlobeSpan Virata Inc 10,274.58 07/01/2003 8,732.45 05/02/2003 1,542.13 0.00 929 .00 Harris Interactive, Inc. 5,711.58 07/01/2003 6,330.30 06116/2003 (618.72) 0.00 409 .00 Magma Design Automation 6,829.98 07/01/2003 6,780.81 05/0612003 49.17 0.00 101.00 Magma Design Automation 1,68662 07/01/2003 1,68194 05/07/2003 4.68 000 289 .00 Magma Design Automation 4,826.07 07/01/2003 4,79653 05/08/2003 29 .54 0.00 173 .00 NU Holdings Inc - Cl B 6,506.90 07/01/2003 3,148.60 01/15/2003 3,358.30 0.00 315.00 NII Holdings Inc - Cl B 11,847 .82 07/01/2003 5,811.66 02/12t2OO3 6,036.16 0.00 159 .00 Proassurance Corp 4,392.45 07/01/2003 3,591.81 03/0612003 800.64 000 455.00 Proassurance Corp 12,56960 07/01/2003 10,414.95 03/07/2003 2,154.65 0.00 189 .00 Proassurance Corp 5,221.22 07/01/2003 4,491.17 04/0412003 730.05 0.00 135 .00 Proassurance Corp 3,729.44 07/01/2003 4,037.47 06(1612003 (308-03) 0.00 270.00 Proassurance Corp 7,458.89 07/01/2003 8,194.93 06(17/2003 (73604) 0.00 558-00 Synovis Life Technologies Inc 10,413 .74 07/01/2003 8,12509 05/21/2003 2,288.65 0.00 1,079.00 Tollgrade Communications 19,68683 07/01/2003 22,259.77 06(0512003 (2,572 .94) 0.00 1,083.00 AT Road Inc 12,206 .35 07/0212003 9,617.04 05/30/2003 2,58931 0.00 739.00 AT Road Inc 8,329.17 07/02/2003 7,477.42 06116/2003 85175 000 884.00 AT Road Inc 9,963.45 07/02/2003 9,09636 06/17/2003 867 .09 000 540.00 AT Road Inc 6,086.27 07/02/2003 5,999.24 06118/2003 87.03 0.00 145.00 AT Road Inc 1,634.28 07/02/2003 1,666.62 06/19/2003 (32 .34) 0.00 306-00 GlobeSpan Virata Inc 2,49072 07/02/2003 2,050.75 05/02/2003 439.97 0.00 238-00 GlobeSpann Viram Inc 1,937.23 01/02.120003 1,569.51 G-V21120034 367.72 000

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Sale Purchase Realized Unamortized Bond Ouantit Security Description Proceeds Date Cost Date Gain (- Loss) Pren-durn Discount)

796.00 Hams Interactive, Inc 4,995.14 07/02/2003 5,424.02 0611612003 (428 .88) 000 168-00 Magma Design Automation 3,00705 07/02/2003 2,785.27 05/06/2003 221 .78 000 952.00 Micromuse, Inc. 7,69139 07/0212003 6,892.19 04/24/2003 799.20 000 485.00 Micromuse, Inc. 3,918.41 07/0212003 3,38084 04125/2003 537.57 0.00 71900 Micromuse, Inc. 5,808.94 07/02/2003 5,097.71 04/2&12003 711 .23 000 531-00 Micromuse, Inc 4,290.05 07/02/2003 4,437.30 05/07/2003 (147 .25) 0.00 77600 Nficromuse, Inc. 6,269.45 07/02/2003 6,572.72 05/2012003 (303 .27) 000 518.30 Micromuse, Inc. 4,185.02 07/02./2003 4,71665 05/27/2003 (53163) 000 92600 Micromuse, Inc. 7,481.33 07/0212003 8,741 .72 05/28/2003 (1,260 .39) 0.00 1,719.00 Daugherty Resources Inc 6,899.76 07/02/2003 8,782.23 0612612003 (1,882 .47) 000 595 .00 Osteotech Inc. 7,80639 07/0212003 8,203.86 05/28/2003 (397 .47) 000 339.00 Proassurance Corp 9,591 89 07/0212003 7,552 17 02114/2003 2,039.72 000 34.00 Proassurance Corp 962.02 07/0212003 75848 02120/2003 20354 0.00 41.00 Proassurance Corp 1,160.08 07/0212003 924.46 02121/2003 235.62 0.00 39.00 Proassurance Corp 1,103.49 07/02/2003 878.80 02/24/2003 224.69 000 55.00 Proassurance Corp 1,556.21 07/02/2003 1,241 .90 02125/2003 31431 0.00 190-00 Proassurance Corp 5,375.99 07/02/2003 4,29210 03/0612003 1,08389 0.00 259.00 Staar Surgical Co. 3,582.45 07/02/2003 3,087.05 05/15/2003 495.40 0.00 921 .00 Staar Surgical Co. 12,739.13 07/02/2003 11,125 .68 05/2112003 1,613.45 0.00 1,324.00 Staar Surgical Co 18,313 .37 07/02/2003 14,842.83 06tl3/2003 3,470.54 0.00 436-00 Stau Surgical Co. 6,030.69 07/02/2003 4,961 .68 06118/2003 1,06901 000 484.00 Synovis Life Technologies Inc 9,471.43 07/02/2003 4,982.25 03/11/2003 4,489.18 0.00 28 00 Synovis Life Technologies Inc 547 .93 07/0212003 40771 05/21/2003 140.22 0.00 255-00 Angiotech Pharmaceuticals 10,913.48 07/03/2003 7,986.96 06104/2003 2,926.52 000 50-00 Angiotech Pharmaceuticals 2,139.90 07/0312003 2,104.94 07/02/2003 3496 0.00 984.00 Centilhurn Commun4cations Inc 9,869.05 07/03/2003 7,335.13 05/02/2003 2,53392 0.00 425.00 Centdhum Communications Inc 4,262.55 07/03/2003 3,440.08 05/05/2003 822.47 000 189 .00 K V H Industries Inc 4,290.09 07/0312003 3,535.43 05/21/2003 754.66 000 115 .00 K V H Industries Inc 2,61038 07/03/2003 2,274.59 05/2212003 335.79 0.00 86300 Daugherty Resources Inc 3,461.54 07/03/2003 3,591.87 06tlO/2003 (130 .33) 0.00 576-00 Daugherty Resources Inc 2,310.37 07/03/2003 2,635.32 06/11/2003 (324 .95) 0.00 440-00 Daugherty Resources Inc 1.764.87 07/03/2003 2,247.92 06/26/2003 (483 .05) 0.00 500-00 Osteotech Inc. 6,626.43 07/03/2003 6,894.00 05/28/2003 (267-57) 0.00 481 .00 Osteotech Inc. 6,374.63 0710312003 6,517.98 06/13/2003 (143 .35) 0.00 29000 Proassurance Corp 8,128.46 07/03/2003 6,460.56 02/1412003 1,667.90 0.00 258.00 K V H Industries Inc 5,927.50 (Y7/0712003 4,826.15 05/21/2003 1,101.35 0.00 247-00 Martek Biosciences Corp 11,336.77 07/07/2003 8,80061 05/15/2003 2,536.16 000 503-00 Martek Biosciences Corp 23,086.61 07/07/2003 21,201 .45 06t 19/2003 1,885.16 0.00 16-00 NU Holdings Inc - CI B 619 .17 07/07/2003 291 .20 01/1512003 327 .97 000 19.00 Netease com Inc. ADR 723 .87 07/07/2003 216.61 12/31/2002 507 .26 000 43.00 Netease .com Inc. ADR 1,638.22 07/07/2003 1,571.62 06/1712003 66.60 0.00 144.00 Netease corn Inc ADR 5,48614 07/07/2003 4,84429 06/26/2003 641 .85 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 38 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056404 -- RHD FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unamortized Bond ouan~. ; Security Description Proceeds Date Cost Date Gain (- lAw) Premium Discount)

188 .00 Netease com Inc . ADR 7,162.46 07/07/2003 6,832.05 06130/2003 330.41 0 .00 186.00 Proassurance Corp 5,271 .94 07/07/2003 4,143 .67 02114/2003 1,128 .27 0.00 29.00 Proassurance Corp 82197 07/07/2003 640 .84 02/18/2003 181 .13 0.00 35 .00 Proassurance Corp 992.03 07/07/2003 775 .77 02/19/2003 21626 000 77 .00 Praecis Pharmaceuticals Inc 374.39 07/07/2003 415 .56 05/14/2003 (41 .17) 0.00

912.00 Praecis Pharmaceuticals Inc 4,43430 07/07/2003 4,832 .15 05/15/2003 (397 .85) 0.00 178 .00 Praccis Pharmaceuticals Inc 865 .47 (Y7/07/2003 926 .01 05/29/2003 (60.54) 0.00 81 .00 Praecis Pharmaceuticals Inc 393 .84 07/07/2003 446 .72 06102/2003 (52 .88) 0.00 460 .00 Sharper Image Corp . 12,42342 07/0712003 12,95401 06t1712003 (53059) 0.00 145 .00 Sharper hmge Corp . 3,916 .08 07/0712003 4,00490 06f2612003 (88 .92) 000

143 .00 Staar Surgical Co 1,997 .49 07/07/2003 1,603 .12 06/13/2003 39437 000 41 .i~O Staar Surgical Co 572 .71 07/07/2003 457 .56 0&20/2003 115 .15 0.00 151 .00 Synovis Life Technologies Inc 3,163 .36 07/0712003 1,540 .20 02/26/2003 1,623 .16 0.00 302.00 Synovis We Technologies Inc 6,326 .72 07/07/2003 2,970 .77 02/27/2003 3,35595 0.00 64 .00 Synovis Life Technologies Inc 1,34076 07/07/2003 65881 03/11/2003 681 .95 000

657 .00 TiVo Inc. 8,438 .11 07/07/2003 8,96634 07/03/2003 (52823) 0.00 514.00 Banco Frances Rio Plata Adr 2,844 .70 07/08/2003 3,695 .66 06120/2003 (850.96) 000 586.00 Banco Frances Rio Plata Adr 3,243 .18 07/08/2003 4,055 .12 06126/2003 (811 .94) 0.00 310.00 Banco Frances Rio Plata Adr 1,71567 07/08/2003 1,953 .00 0680/2003 (237 .33) 000 1,139-00 Digene Corporation 30,667 .66 07/08/2003 13,822 .26 02104/2003 16,845 .40 0.00

139 .00 Digene Corporation 3,745 .87 07/08/2003 2,754 .13 05/01/2003 991 .74 000 22.00 IRSA - Sp. ADR 186 .90 07/08/2003 211 .18 06r25/2003 (24 .28) 0.00 316.00 NU Holdings Inc - Cl B 12,37030 07/08/2003 5,751 .20 01/15/2003 6,619 .10 0.00 877.00 Osteotech Inc . 11,931 .64 07/0812003 11,878.79 05/2712003 52.85 000 182.00 Osteotech Inc 2,476 .12 0710812003 2,46626 06113/2003 9 .86 000

1,234.00 Praecis Pharmaceuticals Inc 5,90914 07/08/2003 6,417.17 05/13/2003 (508 .03) 000 933 .00 Praecis Pharmaceuticals Inc 4,467 .77 07/08/2003 4,853 .75 05/29/2003 (385 .98) 000 177 .00 Staar Surgical Co. 2,51263 07/08/2003 1,96647 06tl9/2003 546.16 0 .00 151 .00 Staar Surgical Co 2,143 54 07/0812003 1,685 .16 06/20/2003 458 .38 000 367.00 TiVo Inc 4,570 .65 07/08/2003 5,008 .60 07/03/2003 (437 .95) 0 .00

581-00 Banco Frances Rio Plata Adr 3,075 .87 07/09/2003 2,935 .21 02/25/2003 140.66 0 .00 471-00 Banco Frances Rio Plata Adr 2,493.52 07/09/2003 2,868 .39 05/05/2003 (374.87) 0 .00 145 .00 Banco Frances Rio Plata Adr 767.64 07/09/2003 858 .56 06(09/2003 (90.92) 0.00 44400 Banco Frances Rio Plata Adr 2,350.58 07/09/2003 2,721 10 06tlO/2003 (370.52) 0 .00 133 .00 Banco Frances Rio Plata Adr 704.12 07/09/2003 83790 06/3012003 (133 .78) 000

94 .00 Grupo Financiero Galicia-B ADR 370.50 07/09/2003 275 .22 03/26/2003 95 .28 0.00 322 .00 Harvest Natural Resources 2,176.04 07/09/2003 2,171 .79 06(11/2003 425 000 719.00 Harvest Natural Resources 4,85891 07/09/2003 5,091 .53 0611212003 (232 .62) 000 864-00 Harvest Natural Resources 5,838 .80 07109f2003 6,004 .80 07/07f2003 (166.00) 0.00 194.00 IRSA - Sp . ADR 1,642 .79 07/09/2003 1,862 .21 06125/2003 (219 .42) 000

863.00 Newtek Business Services Inc 4,521 .29 07/09/2003 5,247 .90 W0612003 (726 .61) 0.00 137.00 Newtek Business Services Inc 717 .75 07/09/2003 81668 066/17/20003 (98 .93) O.On

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Sale Purchase Realized Unamortized Bond Ouantit Security Description Proceeds Date cost Date Gain f- Loss) Premium Discount)

533 .00 Newtek Business Services Inc 2,792.41 07/09/2003 3,267.02 06120/2003 (474 .61) 000 619 .00 Newtek Business Services Inc 3,242.96 07/09/2003 3,766.55 06130/2003 (523 .59) 0.00 245 .00 Staar Surgical Co. 3,448 92 07/09/2003 2,721.95 06/19/2003 726.97 0.00 1,289.00 American Home Mtg Holdings 27,139 00 07/10/2003 22,396.38 06tO5/2003 4,742.62 0.00 628.00 Banco Frances Rio Plata Adr 3,330.92 07/1012003 3,172.66 02125/2003 158.26 0.00 464.00 Banco Frances Rio Plata Adr 2,461.06 07/10/2003 2,12976 03/19/2003 331 .30 000 325.00 Banco Frances Rio Plata Adr 1,723.81 07/10/2003 1,582.82 03/21/2003 14099 0.00 387 .00 Banco Frances Rio Plata Adr 2,052.65 07/10/2003 1,929.54 03/25/2003 123 11 0.00 389 .00 Centillium. Communications Inc 4,203.18 07/10/2003 2,899.76 OS/0212003 1,303.42 000 330.00 Centilhum Communications Inc 3,565.68 07/10/2003 3,993.16 07108/2003 (427 .48) 0.00 2,734.00 Grupo Financiero Galicia-B ADR 10,478.25 07/10t2003 8,004.68 03/26/2003 2,473.57 0.00 96.00 Harvest Natural Resources 627.82 07/10/2003 647.49 06111/2003 (19 .67) 000 424.00 IRSA - Sp ADR 3,540.19 07/10/2003 4,069.98 06/25/2003 (529 .79) 0.00 635.00 Accredited Home Lenders 13,747 .10 07/1012003 11,195 .05 05/28/2003 2,55205 0.00 318.00 Accredited Home Lenders 6,884.37 07/10/2003 5,72400 06105/2003 1,160.37 000 2,162.00 Netegrity Inc. 14,538.76 07/10/2003 13,00034 05/15/2003 1,538.42 0.00 888.00 Netegrity Inc. 5,971.51 07/10/2003 5,443.44 06/0412003 52807 0.00 90300 Newtek Business Services Inc 4,630.27 07/10/2003 5,326.36 06/09n003 (696 .09) 000 583.00 Newtek Business Services Inc 2,989.42 07/10/2003 3,475.38 06f1712003 (48596) 0.00 186 .00 Staar Surgical Co. 2,419.53 07/10/2003 1,942.30 05/05/2003 477.23 0.00 43.00 Staar Surgical Co. 559.35 07/10/2003 477 .73 06/19/2003 81 .62 0.00 523.00 IRSA - Sp. ADR 4,148.86 07/11/2003 5,020.28 06r25/2003 (87142) 0.00 686.00 K V H Industries Inc 15,683.90 07/11/2003 12,249 .01 05/16t2003 3,434.89 0.00 58.00 K V H Industries Inc 1,326.04 07/1 W003 1,084.95 05/21/2003 241 .09 0.00 1 .00 Accredited Home Lenders 21.80 07/11/2003 17 .63 05/28/2003 417 000 271 .00 Accredited Home Lenders 5,907.52 07/11/2003 4,607.00 05129/2003 1,300.52 0.00 262.00 Martek Biosciences Corp 12,140.50 07/11/2003 8,68182 OV2812003 3,458.68 0.00 38.00 Martek Biosciences Corp 1,76084 0711112003 1,353.94 05/15/2003 40690 0.00 309.00 Vicuron Pharmaceuticals Inc 4,486.47 07/11/2003 4,641.18 06112/2003 (15471) 0.00 504.00 Vicuron Pharmaceuticals Inc 7,317.73 07/11/2003 7,71120 06/1612003 (393 .47) 0.00 421 .00 Vicuron Pharmaceuticals Inc 6,112.63 07/1112003 6,441.30 07/07/2003 (328 .67) 000 199.00 N11 Holdings Inc - Cl B 7,936.16 07/11/2003 3,62180 01/15/2003 4,314.36 0.00 1,11200 Newtek Business Services Inc 5,605.54 07/11/2003 6,559.15 06109/2003 (95361) 0.00 707.00 Ciphergen Biosystems Inc 6,660.54 07/14/2003 6,88618 06/05/2003 (22564) 0.00 1.082.00 Ciphergen Biosystems Inc. 10,19336 07/14/2003 10,933 .83 07/11/2003 (740 .47) 000 400 IRSA - Sp ADR 31.61 07/14/2003 29.60 03/0612003 2.01 0.00 200.00 IRSA - Sp . ADR 1,58052 07/14/2003 1,481.48 03/14/2003 9904 0.00 319.00 IRSA - Sp ADR 2,52094 07/14/2003 3,062.08 06125/2003 (541 14) 0.00 393 .00 Martek Biosciences Corp 18,618 .76 07/1412003 11,457 .80 04/02/2003 7,16096 0.00 147-00 Martek Biosciences Corp 6,964.27 07114/2003 4,87109 04/2812003 2,093.18 0.00 557.00 Vicuron Pharmaceuticals Inc 8,237.64 07/1412003 8,366.14 06/12/2003 (128 .50) 0.00 1,185.00 Navigant Consulting Co 14,85967 07/14/2003 14,556.30 07/0212003 303 .37 0.00 Driehaus Capital Management Friday January 23, 2004 16.50:14 Page 40 Gains and Loss Reportfrorn 1110112002 to 1013112003 Account: 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Quantity Security Description Proceeds Date cost Date Gain (- Loss) Pren-dum Discount)

233.00 Navigant Consulting Co 2,921.77 07/14/2003 2,877.55 07/03/2003 44 .22 000 543.00 Navigant Consulting Co 6,809.11 07/14/2003 6,605.49 07/07/2003 203 .62 000 273.00 Netease .corn Inc ADR 10,977 .52 07/14/2003 3,112.39 12/31/2002 7,865.13 0.00 900.00 Select Comfort Corp. 19,424 .68 07/14/2003 18,114.12 07/03/2003 1,310.56 0.00 691 .00 Sonus Network 5,018.15 07/1412003 2,26972 05102J2003 2,748.43 0.00 2,152.00 Sonus Network 15,628 .15 07/14/2003 10,779.09 06(19/2003 4,94906 0.00 473.00 Sonus Network 3,435.00 07/14/2003 2,480.36 06127/2003 95464 0.00 104 .00 Staar Surgical Co. 1,393.13 07/142003 1,096.02 05105f2003 29711 0.00 6,851-00 24f7 Real Media Inc. 15.185.03 07/14/2003 9,11670 06/17/2003 6,06833 0.00 4,976.00 24f7 Real Media Inc. 11,029 .15 07/14/2003 6,348.48 07/07/2003 4,680.67 0.00 783.00 2V7 Real Media Inc. 1,73550 07/14/2003 1,226.67 07/09/2003 508 .83 000 103 .00 American Home Mtg Holdings 2,244.96 07/15/2003 1,789.62 06tO5/2003 455 .34 0.00 198 .00 American Home Mtg Holdings 4,315.56 07/1512003 3,364.97 06109/2003 95059 0.00 523.00 IRSA - Sp. ADR 4,064.03 07/15/2003 3,87020 03/0612003 193 .83 000 294.00 Navigant Consulting Co 3,585.22 07/15/2003 3,57645 07/07/2003 8.77 000 602.00 Ciphergen Biosystems; Inc. 5,407.81 07/16(2003 5,863.48 0610512003 (455 .67) 0.00 1,179.00 Cipbergen Biosystems; Inc. 10,591 .04 07/16/2003 11,153 .34 06/12/2003 (562 .30) 0.00 760.00 Ciphergen Biosystems; Inc. 6,827.13 07/1 &2003 7,144.00 0611312003 (31687) 0.00 847.00 E-Loan Inc. 5,265.72 07/1612003 3,937.81 05123/2003 1,327.91 0.00 432.00 E-Loan Inc. 2,685.70 07/1612003 2,103.31 05/2812003 582.39 000 59.00 IRSA - Sp. ADR 451 .53 (Y7/16/2003 42878 02/2612003 22.75 0.00 327.00 IRSA - Sp. ADR 2,502.54 07/16(2003 2,382.49 02/27/2003 120.05 0.00 364.00 IRSA - Sp. ADR 2,785.71 07/16/2003 2,693.60 03/0612003 92.11 0.00 19.00 IRSA - Sp ADR 145.41 07/1612003 140.33 03/1712003 5.08 0.00 222.00 Accredited Home Lenders 4,441.41 07/16/2003 3,187.50 05/22/2003 1,253.91 000 42300 Accredited Home Lenders 8,462.69 07/16f2003 7,191 .00 05/29f2003 1,271 .69 0.00 278.00 Sohu corn Inc. 11,031 .18 Or7/16(2003 1,810.80 12/23/2002 9,220.38 0.00 158 .00 Sohu com. Inc. 6,269.52 07/16/2003 5,393.39 06130/2003 876.13 0.00 393.00 Aquantive Inv 3,539.23 07/17/2003 2,554.50 04125/2003 984.73 0.00 529.00 IRSA - Sp ADR 4,029.57 07/17/2003 3,84451 02/26/2003 185.06 0.00 968.00 IRSA - Sp. ADR 7,37358 07/17/2003 6,913.07 03/11/2003 460.51 0.00 655.00 Netease corn Inc. ADR 23,39661 07/17/2003 7,467.46 12/31/2002 15,929 .15 0.00 594.00 TiVo Inc. 6,323.60 07/17/2003 6,19887 06/2012003 124.73 0.00 325.00 TiVo Inc. 3,459.88 07/17f2003 4,435.41 07/03/2003 (975 .53) 0.00 321-00 American Home Mtg Holdings 6,198.21 07/18/2003 5,428.50 06104/2003 769.71 0.00 582.00 American Home Mtg Holdings 11,237 .89 07/18/2003 9,890.97 0610912003 1,34692 0.00 216.00 AT Road Inc 2,350.83 07/18/2003 1,87596 05/28t2003 474.87 0.00 1,434.00 AT Road Inc 15,606.91 07/18/2003 12,471 .50 05/29/2003 3,135.41 0 00 76.00 AT Road Inc 827 .14 07/18/2003 674.88 05/30/2003 15226 0.00 628.00 AT Road Inc 6,834.83 07/1812003 7,636.48 07/09/2003 (801 .65) 0.00 735 .00 GlobeSpan Virata Inc 6,471.51 07/1=003 4,947.03 05f22/2003 1,624.48 0.00 5.05 .00 GlobeSpan Virata Inc 5,150.79 071 1. 8=03 5,34860 0710=003 (197 .8311) 0.no

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount) 120 .00 NU Holdings Inc - Cl B 4,744.57 07/18/2003 2,184.00 01/15/2003 2,560.57 0.00 2,112.00 TiVo Inc. 22,397 .97 07/18/2003 21,465 .10 06105/2003 932.87 000 377.00 TiVo Inc. 3,998.12 07/18/2003 3,749.79 06112/2003 248-33 0.00 788.00 TiVo Inc. 8,356.82 07/18/2003 7,95470 06/18/2003 402.12 000 277.00 TiVo Inc 2,937.61 (Y7/18/2003 2,835.90 06/19/2003 101-71 0.00 21200 TiVo Inc 2,248.28 07/18/2003 2,212.39 06/20/2003 35.89 0.00 200.00 Westel Technologies Inc. - A 2,06990 07/18/2003 894.31 04130/2003 1,175-59 0.00 719.00 Westel Technologies Inc. - A 7,441.30 07/1812003 3,371.62 05/01/2003 4,06968 0.00 1,34800 Westel Technologies Inc. - A 13,951 .14 07/18/2003 6,645.81 05/02/2003 7,305.33 000 482.00 AT Road Inc 5,335.48 07/21/2003 4,186.17 05/28/2003 1,149-31 0.00 336.00 E-Loan Inc 1,905.68 07121/2003 1,519.53 05/12/2003 386 15 0.00 9000 E-Loan Inc. 51045 07/21/2003 418.42 05/2312003 9203 0.00 2,07600 E-Loan Inc 11,774.41 07/21/2003 9,61655 05/27/2003 2,157.86 000 17900 GlobeSpan Virata Inc 1,648.51 07/21/2003 1,180.43 05/2212003 46808 0.00 677.00 Magrm Design Automation 11,082.64 07121/2003 12,86097 07/15/2003 (1,778 .33) 000 349.00 Nfl Holdings Inc - Cl B 13,317 .28 07/2112003 6,351 80 01/15/2003 6,96548 0.00 150 .00 N11 Holdings Inc - Cl B 5,723.76 07/21/2003 2,715.00 02119/2003 3,008.76 000 890.00 TiVo Inc. 9,426.08 07/21/2003 8,852.30 0611212003 573-78 0.00 146 .00 TiVo Inc. 1,546.30 0712112003 1,420.46 06/13/2003 12584 0.00 425.00 AT Road Inc 4,683.27 07/22/2003 3,65500 05/22/2003 1,02827 0.00 403.00 AT Road Inc 4,440.85 07/22/2003 3,50006 05/2&'2003 940.79 0.00 240.00 CollaGenex Pharmaceuticals 2,891.86 07/22/2003 3,454.39 07/09/2003 (562 .53) 0.00 511 .00 CollaGenex Pharmaceuticals 6,157.26 0712212003 7,580.84 07/1112003 (1,423 .58) 000 843.00 Cipbergen Biosystems Inc. 7,660.56 07/22/2003 6,693.42 05/28/2003 967.14 0.00 14.00 Cipbergen Biosystems Inc. 127.22 07/22/2003 10987 05/2912003 17.35 0.00 1,052.00 Ciphergen Biosystems Inc. 9,559.80 07/2212003 9,888.80 0611312003 (329.00) 0.00 611-00 Centillium Communications Inc 5,843.81 07122/2003 4,554.64 05/02/2003 1,28917 0.00 980.00 FLoan Inc. 5,604.06 07/22/2003 4,431.97 05/12/2003 1,172.09 0.00 1,253.00 GlobeSpan Virata Inc 9,372.74 (Y7/22/2003 7,875.48 04/3012003 1,49726 0.00 846.00 GlobeSpan Virata Inc 6,328.29 07/2212003 5,579.03 05/22r2OO3 749.26 0.00 3,004.00 Praecis Pharmaceuticals Inc 14,269 .26 0(7/22/2003 17,655 .75 07/15/2003 (3,38649) 0.00 870.00 Staar Surgical Co 10,197 .13 07/22/2003 9,084.97 05/05/2003 1,112.16 0.00 1,250.00 TiVo Inc. 13,061 .13 07/22/2003 12,161 .50 06113/2003 899 .63 0.00 39900 Aquantive Inv 3,38946 07/23/2003 2,424.02 04/11/2003 965 .44 0.00 719.00 Aquantive Inv 6,107.83 07/23/2003 4,400.28 04/14/2003 1,707.55 0.00 63.00 Aquanuve Inv 535 18 07/23/2003 409.50 04125/2003 12568 000 301 .00 Asialnfo Holdings Inc 2,323.31 07/23/2003 2,77305 07/0212003 (449 .74) 000 856.00 Asiainfo Holdings Inc 6,607.15 07/2312003 9,09473 07/0&'2003 (2,477 .58) 0.00 255 .00 Asialnfo Holdings Inc 1,968.25 07/23/2003 2,81594 07/11/2003 (847 .69) 0.00 256.00 CoUaGenex Pharmaceuticals 3,599.19 07123/2003 3,58364 07/0212003 15 .55 0.00 556.00 CollaGenex Pharmaceuticals 7,816.99 07/23/2003 8,002.67 07/0912003 (185 .68) 0.00 1,152.00 Centilhum Communications Inc 10,459 .66 07/23/2003 8,58747 05/02/2003 1,872.19 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 42 Gains and Loss Reportfi-om 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Descriptio Proceeds Date cost Date Gain (- Loss) Premium Discount)

1,358.00 Komag Inc 18,922 .29 07/2312003 10,293 .64 03120/2003 8,628.65 0.00 271 .00 Komag Inc 3,776.10 07/23/2003 2,262.85 05/02/2003 1,513.25 000 114.00 Komag Inc 1,588.47 07123/2003 1,003.20 05/13/2003 585 .27 0.00 1,202.00 Savient Pharmaceuticals Inc 5,32616 07/23/2003 6,934.27 07/10/2003 (1,608 .11) 0.00 482.00 Advanced Digital Info. Corp . 5,014.15 07/24/2003 5,316.46 07/08/2003 (302 .31) 0.00 342.00 CollaGenex Pharmaceuticals 4,72861 07/24/2003 4,646.89 06130/2003 81 .72 000 200.00 CollaGenex Pharmaceuticals 2,765.27 07/2412003 2,69600 07/01/2003 69.27 0.00 179-00 CollaGenex Pharmaceuticals 2,474.92 07/24/2003 2,50575 07/0212003 (30 .83) 0.00 1,178.00 Centilhurn Communications Inc 11,166 .91 07/24/2003 8,781.28 05/02/2003 2,385.63 0.00 871 .00 Digital River Inc. 17,88026 07/2412003 19,04198 07/02/2003 (1,16172) 000 255.00 Digital River Inc. 5,234.75 07/2412003 6,16845 07/07/2003 (933 .70) 000 55600 Digital River Inc 11,413 .81 07/24/2003 13,945 .68 07/0&'2003 (2,431 .87) 0.00 496.00 Digital River Inc. 10,182 .10 07r2412003 13,000 .16 07/09/2003 (2,81806) 0.00 436.00 Digital River Inc. 8,950.40 07/2412003 10,123 .92 07111 f2003 (1,173 .52) 0.00 846.00 E-Loan Inc. 4,87213 07/24/2003 3,825.96 05/1212003 1,046.17 0.00 372.00 E-Loan Inc. 2,142.36 07/24/2003 1,676.30 05/13/2003 466.06 0.00 194-00 GlobeSpan Virata Inc 1,289.83 0712412003 1,15650 0413012003 133 .33 0.00 719.00 GlobeSpan Virata Inc 5,04016 07/24/2003 4,49483 05/01/2003 545 .33 0.00 675.00 Magma Design Automation 11,015 .48 07/2412003 12,822 .98 07/1512003 (1,807 .50) 0.00 48.00 Accredited Home Lenders 894.03 07/24/2003 673.70 05/15/2003 220.33 0.00 717 .00 Accredited Home Lenders 13,354 .56 07/24/2003 10,294 .76 05/22/2003 3,059.80 0.00 573 .00 Vicuron Pharmaceuticals hic 7,916.94 07/24/2003 8,60646 06112/2003 (68952) 0.00 576.00 Vicuron Pharmaceuticals Inc 7,958.39 07/24/2003 8,582.40 06117/2003 (624.01) 0.00 431 .00 Vicuron Pharmaceuticals Inc 5,954.98 07124/2003 6,369.45 07/08/2003 (414.47) 000 101.00 TiVo Inc. 1,052.91 07/24/2003 959 .48 06tO4/2003 93 .43 0.00 245 .00 TiVo Inc 2,554.10 07/24/2003 2,383.65 06/13/2003 170.45 000 1,447.00 Advanced Digital Info. Corp. 14,577 .40 07125/2003 14,169 .46 05/16f2003 407.94 0.00 339 .nn Advanced Digital Info. Corp 3,41516 0712512003 3,33237 0512212003 82 .79 0.00 1,301.W Advanced Digital Info. Corp . 13,106 .57 07/25/2003 14,350-03 07/08/2003 (1,243.46) 0.00 1,152.00 American Home Mtg Holdings 21,771 .77 07/25/2003 19,054 .08 06103/2003 2,717.69 0.00 700.00 American Home Mtg Holdings 13,229 .38 OW25/2003 11,837 .94 06104f2003 1,391.54 0.00 451.00 Biosite Diagnostic Inc 20,909 .08 07/2512003 25,499 .54 07/14/2003 (4,590.46) 0.00 755.00 Ciphergen Biosystems Inc. 6,473.74 07125/2003 4,96790 05/22/2003 1,505.84 0.00 1,500.00 Ciphergen Biosystems Inc. 12,861 .74 07/25/2003 11,771 .25 05/29/2003 1,090.49 0.00 1,358.00 E-Loan Inc 6,533.56 O7f25f2OO3 6,11938 05/13f2OO3 41418 000 702.00 E-Loan Inc. 3,377.43 07/25/2003 3,11280 05/22/2003 264 .63 000 473.00 Accredited Home Lenders 8,317.45 07/25/2003 6,638.74 05/15/2003 1,67871 000 202.00 Accredited Home Leaders 3,552.06 07/25/2003 2,825.58 05/1612003 726.48 0.00 506.00 Accredited Home Lenders 8,897.74 07/25/2003 6,805.70 05121/2003 2,092.04 0.00 383.00 Vicuron Pharmaceuticals Inc 5,258.34 07/25/2003 5,530.06 07/01/2003 (271 .72) 0.00 1,224.UU Vicuron Pharmaceuticals Inc 16,804.72 07/25/2003 18,088 .64 07/08/2003 (1,283 .92) 0.00 3,1305-W Sav-Aent Pharmaceutic& lue 13,500.92 07r25/2003 17,26269 G7Y09r2G03 (3,761 .77) 0.00

(b 0 0 0 0 111, 0 0 0 0 0

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Sale Purchase Realized Unamortized Bond Ouantit Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

1,803.00 Savient Pharmaceuticals Inc 8,100.55 07/25/2003 10,401 .40 07/10/2003 (2,300.85) 000 2,010.00 TiVo Inc. 20,548 .86 07/25/2003 19,09460 06104/2003 1,454.26 000 11300 Ultra Petroleum Corp ADR 1,304.83 07/25/2003 1,25045 05/15/2003 54.38 0.00 866.00 Ultra Petroleum Corp ADR 9,999.84 07/25/2003 9,612.60 05/19/2003 387.24 000 659.00 Ultra Petroleum Corp ADR 7,60957 07/25/2003 7,500.14 05/21/2003 109 .43 000 326.00 Ultra Petroleum Corp ADR 3,764.37 07/25/2003 3,862.19 05/22/2003 (97 .82) 0.00 357 .00 Ultra Petroleum Corp ADR 4,122.33 07/25/2003 4,240.80 05/23/2003 (11847) 0.00 522.00 Ultra Petroleum Corp ADR 6,027.61 07/2512003 6,414.86 06120/2003 (387 .25) 0.00 610.00 Ultra Petroleum Corp ADR 7,043.76 07/25/2003 7,483.66 06/23/2003 (439 .90) 0.00 465-00 Ultra Petroleum Corp ADR 5,369.43 07/25/2003 5,791.53 06/2412003 (422 .10) 0.00 1,955.00 Westel Technologies Inc - A 12,466.24 07/25/2003 8,741.93 04130/2003 3,724.31 000 604.00 Aquanuve Inv 6,33560 07128/2003 3,669.44 04/11/2003 2,666.16 000 420.00 Ask Jeeves Inc 7,521.42 07128/2003 2,893.17 02/20/2003 4,628.25 000 163-00 Ask Jeeves Inc 2,919.03 07/2812003 1,11665 03/05/2003 1,802.38 0.00 469.00 Ask Jeeves Inc 8,39892 07/28/2003 7,451.89 07/07/2003 94703 000 249.00 Osteotech Inc. 3,33099 07/28/2003 2,923.98 05/13/2003 407 .01 0.00 649-00 Osteotech Inc. 8,681.98 (Y7/28/2003 7,951.29 05/14/2003 730.69 0.00 836.00 Osteotech Inc. 11,183 .56 07/2&-2003 10,948.59 05/15/2003 234.97 0.00 721 .00 Osteotech Inc. 9,645.15 07/2&'2003 9,120.65 05/2212003 524.50 0.00 420.00 Osteotech Inc. 5,618.54 07/28f2003 5,688.82 05/27/2003 (7028) 0.00 419.00 Osteotech Inc. 5,605.16 07/2&'2003 6,395.07 07/0912003 (789.91) 0.00 47.00 Ultra Petroleum Corp ADR 537 .83 07/28/2003 514.25 05/14/2003 23 .58 000 854.00 Ultra Petroleum Corp ADR 9,772.54 07/2812003 9,450.28 05/15/2003 322 .26 0.00 1,193.00 Aquantive Inv 11,625 .24 07129/2003 7,247.76 04/11/2003 4,377.48 0.00 264-00 Ciphergen Biosystems Inc. 2,134.58 07/29/2003 1,337.32 03/03/2003 797.26 000 386.00 Cipbergen Biosystems Inc. 3,121 .01 07/29/2003 1,868.32 03104/2003 1,252.69 000 60.00 Ciphergen Biosystems Inc. 485.13 07/29/2003 294 .74 03/05/2003 190 .39 0.00 167.00 Ciphergen Biosystems Inc. 1,350.28 07/29/2003 740 .56 03/0612003 609.72 0.00 485 .00 Ciphergen Biosystems Inc. 3,921 .47 07/29/2003 2,172.80 03/07/2003 1,748.67 0.00 1,357-00 Ciphergen Biosystems Inc. 10,972 .04 07/29/2003 8,64870 05/09/2003 2,323.34 0.00 671 .00 Ciphergen Biosystems Inc. 5,425.38 07129/2003 4,361 .50 05/14/2003 1,063.88 0.00 88-00 Ciphergen Biosystems Inc. 711 .53 07/2912003 579.04 05/22/2003 132.49 000 721 .00 K V H Industries Inc 13,94975 07/29/2003 12,365 15 05/14/2003 1,484.60 0.00 35 00 K V H Industries Inc 672.32 07/29/2003 624.95 05/16/2003 47.37 000 499.00 Osteotech Inc. 6,585.13 07/29/2003 5,85971 05/13/2003 725.42 000 129 .00 Sharper Image Corp. 3,51063 07/29/2003 3,694.56 07/09/2003 (183 .93) 000 470.00 Sharper Image Corp. 12,79068 07/29/2003 13,880.79 07/1012003 (1,090 .11) 0.00 57600 Sharper Image Corp 15,67539 07/29/2003 17,712.00 07/11/2003 (2,03661) 0.00 573 .0-0 Sharper Image Corp. 15,593 .75 07/29/2003 17,677 .05 07/1412003 (2,08330) 0.00 844.00 Ultra Petroleum Corp ADR 9,63802 07/29/2003 9,216.48 05/1312003 421 .54 0.00 1,078 00 Ultra Petroleum Corp ADR 12,310 .18 07129/2003 11,794 .83 05/14/2003 51535 0.00 678-00 Aquantive Inv 6,585.16 07/30/2003 4,119 01 04/11/2003 2,466.15 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 44 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unamortized Bond _Quanthy Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

947 .00 E-Loan Inc. 4,313.87 07/30(2003 4,150.75 05/16/2003 163 .12 0.00 1,47400 E-Loan Inc. 6,71452 07/30/2003 6,535.98 05/22t2OO3 178.54 0.00 156.00 Flamel Technologies-sp Adr 2,96277 07/30/2003 2,68922 07/10/2003 273 .55 0.00 358 .00 Flamel Technologies-sp Adr 6,799.17 07130/2003 6,80200 (Y7/2112003 (2.93) 0.00 605 .00 Flamel Technologies-sp Adr 11,490.22 07/30/2003 11,54909 07/22/2003 (5887) 0.00 423.00 Flamel Technologies-sp Adr 8,033.66 07/30/2003 9,462.51 07/25/2003 (1,428 .85) 0.00 355 .00 Harvest Natural Resources 2,363.30 07/30/2003 2,513.19 07/17/2003 (149 .89) 0.00 205.00 Harvest Natural Resources 1,364.72 07/30/2003 1,457.55 07/2212003 (92 .83) 0.00 1,046-00 Harvest Natural Resources 6,96341 07/30/2003 7,584.34 07/24/2003 (620 .93) 0.00 602.00 Osteotech Inc. 7,885.82 07/30t2003 7,069.23 05/13/2003 81659 0.00 43700 Sharper Image Corp. 12,174.24 07/30/2003 12,515 .68 07/09/2003 (34144) 0.00 1,436-00 CollaGenex Pharmaceuticals 18,379 .93 07/31/2003 18,86746 06t2612003 (487 .53) 0.00 291.00 CoUaGenex Pharmaceuticals 3,596.63 07f3lf2003 3,797.98 07/01/2003 (191 .25) 0.00 2,076.00 E-Loan Inc. 8,770.59 07/31/2003 8,727.72 05/08/2003 42.87 0.00 86.00 E-Loan Inc. 363 .33 07/31/2003 362.12 05/09/2003 1 .21 0.00 26400 E-Loa-n Inc. 1,115.34 07/31/2003 1,157.13 05/16/2003 (41 .79) 0.00 121.00 Imax Corp 995 .56 07/31/2003 1,137.32 06/26/2003 (14176) 0.00 380.00 Imax Corp 3,126.57 07/31/2003 3,356.77 07/0212003 (23020) 0.00 1,481.00 Imax Corp 12,185 .38 07/31/2003 13,383 .80 07/03/2003 (1,19842) 0.00 599.00 Imax Corp 4,928.46 07/31/2003 5,365.48 07/0712003 (437 .02) 0.00 44.00 Milbcom Intl Cellular S.a. 1,514.98 07/31/2003 1,33505 07/07/2003 179 .93 0.00 151-00 Millicorn Intl Cellular S.a. 5,199.12 07/31/2003 5,253.29 07/21/2003 (54.17) 0.00 362-00 Milhcom Ind Cellular S a. 12,464 .12 07/31/2003 12,930.50 07/22/2003 (466.38) 0.00 812.00 0steotech Inc. 10,629.71 07/31/2003 9,535.23 05/13/2003 1,094.48 0.00 139-00 Ask Jeeves Inc 2,288.18 0810112003 908.59 02118/2003 1,379.59 0.00 249.00 Ask Jeeves Inc 4,098.97 08/01/2003 1,648.83 02J25/2003 2,450.14 0.00 454.00 Ask Jeeves; Inc 7,473.62 08/01/2003 3,008.07 02127/2003 4,465.55 0.00 630.00 Grupo Fmanciero Galicia-B ADR 2,567.85 08/01/2003 1,823.99 03/25/2003 743.86 000 28-00 Grupo Fmanciero Gaficia-B ADR 114.13 08101/2003 81 .98 03/26t2OO3 32.15 0.00 1,317-00 Grupo Financiero Galicia-B ADR 5,368.03 08101/2003 5,565.49 07/17/2003 (197 .46) 0.00 246.00 Healthextras Inc 1,844.91 08101/2003 1,987.68 06118/2003 (142 .77) 0.00 872.00 Healthextras Inc 6,539.69 08/01/2003 7,465.19 07/09/2003 (925 .50) 0.00 342-00 Harvest Natural Resources 2,260.06 08/0112003 2,421.15 07/17/2003 (161 .09) 0.00 369 .00 Harvest Natural Resources 2,438.49 08/01/2003 2,606.10 07122/2003 (167 .61) 0.00 250.00 Imax Corp 2,11662 08/01/2003 2,20523 06/25/2003 (88 .61) 0.00 1,501.00 Imax Corp 12,70821 08t0112003 13,259 .23 07/02/2003 (55102) 000 1,646.00 Sonus Network 10,714.95 08/01/2003 12,246.24 07/25/2003 (1,531 .29) 0.00 177 .00 Staar Surgical Co. 1,860.39 08/01/2003 1,710.23 05/0212003 150 .16 0.00 566.00 Staar Surgical Co. 5,94906 08/01/2003 5,910.46 05/05/2003 38.60 0.00 132 .00 Staar Surgical Co. 1,387.41 0810V2003 1,30433 05/08f2003 83.08 0.00 56100 Staar Surgical Co. 5,896.50 08/01/2003 5.608.15 05/14/2003 288.35 0.00 752.00 Ultratech Stepper bc. aMlnq I - .~~3 00=111COM 188,0050.56 0-2/29,74003 (92-033) 0.00

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1,062.00 Healthextras Inc 7,932.76 08/04/2003 8,58096 06118/2003 (648 .20) 0.00 896-00 Harvest Natural Resources 5,877.84 08/0412003 6,328.09 07/22/2003 (450 .25) 0.00 96000 Imax Corp 7,814.02 08/04/2003 8,468.06 06t25/2003 (654 .04) 0.00 439.00 Select Comfort Corp . 8,898 11 08/0412003 7,79146 06f l6r2003 1,10665 000 294.00 Select Comfort Corp 5,959.10 08/0412003 5,28368 06/17/2003 67542 0.00 9800 Select Comfort Corp . 1,986.37 08/04/2003 1,972.43 07/03/2003 1394 0.00 1,020.00 Select Comfort Corp . 20,67442 08/0412003 22,327.80 07125/2003 (1,653 .38) 0.00 337.00 Sharper Image Corp . 8,91997 08/04/2003 9,51152 07/0&P2003 (591 .55) 0.00 55.00 Sharper Image Corp . 1,455.79 08/042003 1,57520 07/O9f2OO3 (11942) 000 256-00 Sharper Image Corp 6,77600 08/04/2003 7,239.68 08/01/2003 (463 .68) 000 217.00 Staar Surgical Co. 2,395-99 08/0412003 2,096.72 05/02/2003 299.27 0.00 1,805.00 Sunpletech Inc 8,156.59 08/04/2003 10,708.01 07125/2003 (2,551 .42) 000 847.00 Healthextras Inc 6,242.09 08/05/2003 6,843.76 06t18/2003 (601 .67) 000 656.00 Healthextras Inc 4,83449 08/05/2003 5,24144 07/0212003 (40695) 000 785.00 Imax Corp 6,373.89 08/05/2003 6,763.95 06/19/2003 (390.06) 0.00 236.00 Imax Corp 1,916.23 08/05/2003 2,081.73 06125/2003 (165 .50) 0.00 1,682.00 Looksmart Ltd 6,263.35 08/05/2003 7,894.81 07/30/2003 (1,631 .46) 0.00 278.00 Looksmart Lid 1,035.20 08/05/2003 1,239.88 07/31/2003 (204 .68) 0.00 1,332.00 Staar Surgical Co. 15,192 .07 08/05/2003 12,870 .18 05/0212003 2,321 .89 0.00 558-00 Staar Surgical Co 6,36425 08/05/2003 5,323.71 05/07/2003 1,040.54 0.00 9.00 Dot Hill Systems Corp 132 .84 08/0&2003 96.90 06/1=003 35.94 0.00 1,152.00 Dot Hill Systems Corp 17,003 .75 08/0612003 12,681 .79 06/13/2003 4,32196 0.00 59-00 Dot Hill Systems Cop 856.09 09/06r2003 661 .85 06116f2003 194 .24 0.00 540.00 Healthextras Inc 3,975.40 08/06(2003 4,282.20 07/01/2003 (306.80) 0.00 146.00 Healthextras Inc 1,074.83 08/0612003 1,166.54 07/0212003 (91 .71) 000 276.00 Imax Corp 2,116.82 08106r2003 2,227.21 06/18/2003 (110.39) 0.00 566.00 Imax Corp 4,341 .01 08/06(2003 4,876.94 06119/2003 (535 .93) 0.00 143 .00 J2 GLOBAL COMMUNICATIONS INC 7,18827 08/0612003 7,72525 07/14/2003 (536.98) 000 54.00 J2 GLOBAL COMMUNICATIONS INC 2,714.45 08/0612003 2,934.48 07/31/2003 (220.03) 0.00 164 .00 J2 GLOBAL COMMUNICATIONS INC 8,243.89 Oa/06/2003 8,86591 08/01/2003 (622 .02) 0.00 457.00 Looksmart Ltd 1,681 .67 08/06(2003 2,03822 07/31/2003 (356 .55) 0.00 299.00 Martek Biosciences Corp 13,101 .56 08/0&2003 14,06326 07/16/2003 (961 .70) 000 611.00 Alans Medical Inc 8,984.70 Oa/07/2003 10,300.85 07/24/2003 (1,316 15) 000 552-00 Alans Medical Inc 8,117.11 Oa/07/2003 9,69036 07/31/2003 (1,573 .25) 0.00 301.00 Alans Medical Inc 4,426.18 08/07/2003 5,24080 08/01/2003 (814 .62) 0.00 193 .00 Angiotech Pharmaceuticals 8,303.69 08/07/2003 8,430.16 07/08/2003 (12647) 0.00 319.00 Angiotech Pharmaceuticals 13,724.74 Oa/07/2003 14,18912 0711412003 (464 .38) 0.00 590-00 Angiotech Pharmaceuticals 25,394.32 Oa/07/2003 26,361 .20 07/31/2003 (976 .88) 0.00 140 .00 AT Road Inc 1,700.47 Oa/07/2003 1,204.00 05/2212003 496.47 000 1,031 .00 AT Road Inc 12,522.75 08/07/2003 8,753.19 05/27/2003 3,769.56 0.00 451 .00 AsiaInfo Holdings Inc 2,825.56 08107/2003 4,15497 07/02/2003 (1,329 .41) 0.00 689.00 Ask Jeeves; Inc 10,410.29 08/07/2003 4,503.72 02/18/2003 5,906.57 000 Dfiehaus Capital Management Friday January 23, 2004 16:50:14 Page 46 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantit Security Description Proceeds Date cost Date Gain (- Loss Premium Discount)

183 .00 Bentley Pharmaceuticals 2,72657 08107/2003 2,646.34 08/06/2003 80.23 000 995m,1 Bentley Pharmaceuticals 14,824.80 08/07/2003 14,761 .62 08/07/2003 63.18 000 71 .00 Closure Medical Corporation 1,712.44 08107/2003 1.721 .75 07125/2003 (931) 000 419.00 Closure Medical Corporation 10,10580 08/07/2003 10,51062 07/28/2003 (404 .82) 0.00 409.00 Closure Medical Corporation 9,86461 08/07f2003 10,800.63 OW29/2003 (93602) 0.00 172 .00 Closure Medical Corporation 4,14844 08/07/2003 4,703.12 07/30/2003 (554 .68) 0.00 440.00 Closure Medical Corporation 10,612.30 08/07/2003 12,152.14 07/31/2003 (1,539 .94) 0.00 738.00 Columbia Laboratories Inc. 8,966.28 08/0712003 9,595.40 07/0912003 (629 .12) 0.00 1,106.00 Columbia Laboratories Inc. 13,437 .26 08/07/2003 14,334.31 07/11/2003 (897 .05) 0.00 763.00 Columbia Laboratories Inc. 9,27001 08/07/2003 9,87673 07/31/2003 (606 .72) 0.00 349.00 Caraco Pharm Labs Inc 3,611.98 08/07/2003 3,577.25 07/25/2003 34.73 0.00 71200 Caraco Pharm Labs Inc 7,36885 08/07/2003 7,974.40 07/31/2003 (605 .55) 0.00 1,749.00 Epic Design Tech 11,72824 08/07/2003 11,746.11 07/09/2003 (17 .87) 0.00 1,224.00 Epic Design Tech 8,207.75 08/07/2003 9,79273 07/3012003 (1,584 .98) 0.00 2.00 Epic Design Tech 13.43 08107/2003 11.79 0612412003 1 .64 0.00 1,134.00 Epic Design Tech 7,617.14 08/07/2003 7,121.52 07/0212003 495.62 000 174 .00 Epic Design Tech 1,168.77 08/07/2003 1,071.84 07/03/2003 96.93 0.00 1,189.00 Epic Design Tech 7,98658 08/07/2003 7,573.93 07/07/2003 41265 0.00 1,633.00 Epic Design Tech 10,96895 08/07/2003 10,003 .10 07/08/2003 965.85 0.00 9.00 Epic Design Tech 60.45 09107/2003 60.44 07/09f2OO3 0.01 000 691 .00 Epic Design Tech 4,641 .49 Oa/07/2003 4,617.61 07/1012003 23.88 0.00 1,236.00 Fuel Tech N V 6,463.97 08/07/2003 7,598.56 07/25/2003 (1,134.59) 0.00 341 .00 FINDWHAT.COM 6,170.10 08/07/2003 7,812.96 07/08/2003 (1,642 .86) 0.00 856 .00 FINDVMAT.COM 15,488 .59 09AY712003 20,780 .94 (Y7/0912003 (5,292 .35) 000 1,546.00 Grupo Financiero Galicia-B ADR 6,27661 08/07/2003 4,270.54 03/21/2003 2,006.07 0.00 74.00 Gnipo Financiero Galicia-B ADR 300.43 08/07/2003 214.25 03/25/2003 86 .18 0.00 135 .00 Grupo Fmanciero, Galicia-B ADR 548.09 08/07/2003 367.20 04/10/2003 18089 0.00 620.00 Dot Hill Systems Corp 8,54320 08/07/2003 6,63567 06/1012003 1,907.53 000 855.00 Dot Hit! Systems Corp 11,781 .34 0810712003 9,205.53 W1212003 2,575.81 0.00 819.00 Dot Hill Systems Corp 11,285 .28 08/07/2003 8,765.51 06110/2003 2,519.77 0.00 1,591 .00 Harvest Natural Resources 9,745.20 09/0712003 10,730.82 06/11/2003 (985 .62) 000 136 .00 Harvest Natural Resources 833.03 08107/2003 960.51 07/27J2003 (127 .48) 0.00 60.00 Harvest Natural Resources 367.51 08107/2003 40468 06111/2003 (37 .17) 0.00 3,00700 Homestore.com 7,501.67 08/07/2003 11,624.58 07/28/2003 (4,122 .91) 000 760.00 Homestore.com 1,896.00 08/07/2003 2,869.56 07/2912003 (973 .56) 0.00 572.00 Imax Corp 4,20949 08/07/2003 4,433.92 06/17/2003 (224.43) 0.00 1,421.00 Imax Corp 10,457.49 08/0712003 11,46690 06/18/2003 (1,009 .41) 0.00 I 998 .00 Imax Corp 7,344.53 08/0712003 5,976.92 09/16/2002 1,367.61 0.00 963 .00 Imax Corp 7,086.96 08/07/2003 5,027.34 04/08/2003 2,059.62 0.00 1,126.00 Imax Corp 8,286.52 08/0712003 6,37260 04/1612003 1,913.92 000 63.00 Imax Corp 463 .63 08/07/2003 488 .35 06117/2003 (24 .72) 0.00 308 .00 j2 G LO B AL C-0 I'viry, UN JLCA -110N S INC 15, 125.17 0810-irl.003 16,638 .99 07/14/2003 (1 .513 .882) 0.00 0 4 a

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89.00 J2 GLOBAL COMMUNICATIONS INC 4,370.58 08/07/2003 4,49339 07/22/2003 (122 .81) 0.00 226.00 Kyphonlnc 4,361.59 08/07/2003 3,548.20 07/09/2003 813.39 0.00 152 .00 Kyphonlnc 2,933.46 08/07/2003 3,011.74 07/28/2003 (78 .28) 0.00 277 .00 Kyphonlnc 5,345.85 09/0712003 5,772.07 0712912003 (426 .22) 000 390.00 Kyphonlnc 7,526.64 0810712003 5,25330 06102/2003 2,273.34 0.00 475 00 Kyphonlnc 9,167.07 08/07/2003 6,418.91 06118/2003 2,748.16 000 365 .00 Kyphon Inc 7,044.17 08/07/2003 5,730.50 07/09/2003 1,313.67 000 73700 LCA Vision Inc 9,495.50 08/07/2003 10,069.48 07/28/2003 (573 .98) 000 1,157.00 LCA Vision Inc 14.906.78 08/07/2003 15,827 .53 07/29/2003 (92075) 0.00 167 00 LCA Vision Inc 2,151 .63 08/07/2003 2,307.94 07/3012003 (156 .31) 0.00 1,091 .00 LCA Vision Inc 14,05643 08/07/2003 14,49939 08/05/2003 (442 .96) 0.00 1,507.00 Lionbndge Technologies Inc. 9,423.57 08/07/2003 9,880.34 07/21/2003 (456 .77) 000 1,567 v0 Lionbndge Technologies Inc. 9,79876 08/07/2003 10,149 .77 07/24/2003 (35101) 000 1,923.00 Ljonbndge Technologies Inc. 12,02490 08/07/2003 13,537 .92 07/31/2003 (1,513 .02) 0.00 1,952.00 Looksmart lid 6,671.94 09/0712003 8,262.00 07/14/2003 (1,59006) 0.00 106 .00 Looks mart Ltd 362 .31 09107/2003 472 .76 07/31/2003 (110 .45) 000 301 .00 Looksmart Lid 1,029.75 08/07/2003 1,274.01 07/14/2003 (24426) 0.00 2,154.00 Looks mart Ltd 7,36902 08/07/2003 8,308.47 07/16r2003 (939 .45) 0.00 578.00 Werscope 5,353.21 08/07/2003 5,819.13 07/29/2003 (465 .92) 0.00 1,734.00 Laserscope 16,059 .62 08/07/2003 17,46641 07/3012003 (1,406 .79) 0.00 3.00 Martek Biosciences Corp 134.77 08/07/2003 87 .11 03/26/2003 47.66 0.00 116 .00 Martek Biosciences; Corp 5,210.94 08/07/2003 3,381.95 04/02/2003 1,828.99 0.00 136 .00 Martek Biosciences Corp 6,109.38 08/07/2003 6,396.66 07/16/2003 (287 .28) 000 284.00 Martek Biosciences Corp 12,757 .82 08/07/2003 7,22933 03/14/2003 5,528.49 000 214.00 Martek Biosciences Corp 9,613.28 08/07/2003 6,21353 03/2612003 3,399.75 000 326.00 Martek Biosciences Corp 14,644 .54 08/07/2003 9,40412 04/14/2003 5,240.42 0.00 93.00 Milhcom Intl Cellular S a. 2,613.15 08/07/2003 2,49901 07/01/2003 114.14 000 367.00 Mithcom Intl Cellular S.a. 10,312 .10 08/07/2003 10,38617 07/0212003 (74 .07) 0.00 444.00 Mdhcom Intl Ceffular S.a. 12,47568 08/07/2003 13,471 .89 07/07/2003 (996.21) 0.00 941 .00 Mannatech Inc 4,481 .65 08/07/2003 6,485.12 07/21/2003 (2,003 .47) 000 2,128.00 Mannatech Inc 11,340 .01 08/07/2003 17,823 .49 07/22/2003 (6,483 .48) 000 622.00 Navigant Consulting Co 8,302.19 08/0712003 6,00267 05/27/2003 2,299.52 0.00 3.09800 Navigant Consulting Co 41,350 .77 08/07/2003 31,435 .72 05/28/2003 9,915.05 0.00 890.00 Navigant Consulting Co 11,879 .34 08/07/2003 10 .82667 07/0712003 1,05267 0.00 85.00 Network Engines Inc 387.92 08/07/2003 42721 07/28t2OO3 (3929) 0.00 617.00 Network Engines Inc 2,815.85 08/07/2003 3,309.46 07/29/2003 (493 .61) 0.00 34600 Network Engines Inc 1,57907 08/07/2003 1,751 .87 07/30/2003 (172.80) 000 1,233.00 Network Engines Inc 5,627.14 08/0712003 6,333.43 08/04/2003 (706.29) 000 647.00 Network Engines Inc 2,952.77 08/07/2003 3,433.63 08/05/2003 (480.86) 000 672.00 NII Holdings Inc - Cl B 31,664.83 08/07/2003 34,823 .44 08/01/2003 (3,158 .61) 0.00 2,152.00 Openwave Systems Inc 8,188.74 08/07/2003 8,898.56 08/04/2003 (709 .82) 0.00 289-00 Ommvision Technologies 12,056.51 08/0712003 12,20014 07/29/2003 (14363) 0.00 Dfiehaus Capital Management Friday January 23, 2004 16:50:14 Page 48 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION - EMERGING GROWTH

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7400 Penwest Pharmaceuticals Co 1,494.51 08/07/2003 1,751.27 07/23/2003 (256 .76) 0.00 203.00 Penwest Pharmaceuticals Co 4,099.80 08/07/2003 4,913.78 07/24/2003 (813 .98) 000 211.00 Penwest Pharmaceuticals Co, 4,261 .37 08/07/2003 5,042.90 07/28/2003 (781 .53) 0.00 256.00 Penwest Pharmaceuticals Co, 5,170.19 08/07/2003 6,044.16 07/31/2003 (873 .97) 0.00 668.00 Performance Tech Inc 6,80893 08/07/2003 6,942.66 07/22/2003 (133 .73) 000 1,173.00 Performance Tech Inc 11,956 .41 08/07/2003 12,991 .68 07/29/2003 (1,035 .27) 0.00 1,05200 Perfortnance Tech Inc 10,723 .05 08/07/2003 11,803 .44 08/05/2003 (1,080 .39) 0.00 59 .00 Select Comfort Corp. 1,147.50 08/07/2003 953.38 05/30/2003 194.12 0.00 222.00 Select Comfort Corp. 4,317.70 08/07/2003 3,588.70 06t03/2003 729.00 0.00 384.00 Select Comfort Corp. 7,46845 08/07/2003 6,44448 06/05/2003 1,023.97 0.00 579.00 Select Comfort Corp. 11,261 .02 08107/2003 9,650.83 06/06t2OO3 1,610.19 0.00 101.00 Select Comfort Corp. 1,964.36 08107/2003 1,792.57 0611612003 171.79 0.00 20.00 Sharper Image Corp. 521 .50 08/07/2003 545.00 0611612003 (23.50) 0.00 13.00 Sharper Image Corp. 338.98 08/07/2003 35906 06t26/2003 (20.08) 0.00 299.00 Sharper Image Corp. 7,796.47 08/0712003 8,43901 07/08/2003 (64254) 000 538.0 Sonic Solutions 5,829.60 09/07/2003 6,609.06 07/31/2003 (779.46) 0.00 480.00 Sohu com Inc. 15,100 .52 08/07/2003 3,126.55 12/23/2002 11,973 .97 0.00 591.00 Sonus Network 3,438.27 08107/2003 1,941.25 05/02/2003 1,497.02 0.00 182.00 Sonus Network 1,058.82 08/07/2003 1,354.08 07/2512003 (295.26) 0.00 604.00 Simpletech Inc 2,467.47 08/07/2003 3,33464 07/23/2003 (867.17) 0.00 1,203.00 Simpletech Inc 4,914.50 Oa/07/2003 7,136.70 07/2512003 (2,222.20) 0.00 109.00 Terayon Communication Sy 515.04 08107/2003 547.97 08/0112003 (32.93) 0.00 1,503.00 Terayon Communication Sy 7,101 .90 Oa/0712003 7,677.54 08/05/2003 (575 64) 0.00 8,577.00 2417 Real Media Inc. 12,581 .95 08107/2003 16,351 .01 07/1812003 (3,769.06) 0.00 5,944.00 2417 Real Media Inc. 8,719.49 0910712003 12,109 .50 07/29/2003 (3 .390.01) 000 9,811.00 2417 Real Media Inc. 14,392 .15 08/07/2003 18,809 .11 07/31/2003 (4,41696) 0.00 3,778.00 TLC Vision Corp 21,607.10 08107/2003 19,207 .94 06/13/2003 2,399.16 000 3,470.00 TLC Vision Corp 19,945.59 08/07/2003 17,951 .27 06/16/2003 1,894.32 0.00 2,088.W TLC Vision Corp 11,941 .67 08/07/2003 11,17909 06/18/2003 762.58 0.00 180.00 TLC Vision Corp 1,029.45 08/07/2003 1,101 .29 07/280-2003 (71.84) 0.00 751 .00 Transaction Sys Archtcts 8,820.45 08/07/2003 9,500.15 08/01/2003 (679 .70) 0.00 716.00 Transaction Sys Archtcts 8,409.38 08/07/2003 8,878.40 08/05/2003 (46902) 000 344.00 Transaction Sys Archtcts 4,040.26 08/07/2003 4,224.32 08/06(2003 (194.06) 0.00 510.00 Ulft-abfe Batteries Inc 6,211.81 08/07/2003 5,171 .40 06113/2003 1,04041 0.00 1,559-00 Ultrahfe Batteries Inc 18,988 .66 08/07/2003 15,855 .03 06/1612003 3,133 63 0.00 296.00 Ulu-ahfe Batteries Inc 3,605.29 08/07/2003 2,983.68 07/07/2003 621.61 0.00 2,042.00 Ultralife Batteries Inc 24,871 .61 08/07/2003 20,767 .75 07/09/2003 4,103.86 0.00 562.00 United Online Inc 17,401 .79 08/07/2003 17,119 .03 07/28/2003 282.76 0.00 525.00 United Online Inc 16,256 .12 08/07/2003 16,411 .45 07/31/2003 (155 .33) 000 862.00 Ultra Petroleum Corp ADR 11,110.65 08/07/2003 11,35969 08/07/2003 (249 .04) 000 268.00 Ultmtech Stepper Inc. 5,925.20 08/07/2003 6,432.91 07/29/2003 (507 .71) 0.00 90.00 Ventana Medical Sys Inc 3,117.45 08/07/2003 3.35657 07/14/2003 (239 .12) 0 On-

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205.00 Ventana Medical Sys Inc 7,100.87 08107f2003 7,702.98 GUW2003 (60211) 000 190 .00 Ventana Medical Sys Inc 6,58129 08/07/2003 7,195.30 07/2912003 (61401) 000 467.00 Ventana Medical Sys Inc 16,176 .12 08/0712003 17,558 .41 07/30/2003 (1,382 .29) 000 1,613.00 Verso Technologies Inc 4,88407 08/07/2003 5,448.83 08/07/2003 (56476) 000 171 .00 Angiotech Pharmaceuticals 7,503.12 08/08/2003 7,469.21 07/08/2003 33 .91 0.00 64.00 Astalnfo Holdings Inc 385 .30 08/08a003 599 .62 07102f2003 (204 .32) 0.00 523.00 Ask Jeeves Inc 7,583.14 08/08/2003 3,41864 02/1812003 4,164.50 0.00 544.00 Columbia Laboratories Inc. 6,696.32 Oa/08/2003 7,041.86 07/31/2003 (34554) 0.00 1,232.00 Epic Design Tech 8,034.59 08/08/2003 6,10007 06/13/2003 1,93452 0.00 516.00 Epic Design Tech 3,365.14 08/08/2003 3,042.70 06f2412003 322.44 0.00 16200 Flamel Technologies-sp Adr 2,73854 08/08/2003 2,792.65 07/1=003 (54 .11) 0.00 206.00 Flamel Technologies-sp Adr 3,482.34 0810a/2003 3,511.00 07/1112003 (2866) 0.00 431 .00 Flarriel Technologies-sp Adr 7,28588 08/08/2003 5,727.99 06123/2003 1,557.89 0.00 212.00 Flame[ Technologies-sp Adr 3,583.78 09108/2003 3,527.68 07/09/2003 56.10 0.00 21 .00 Flamel Technologies-sp Adr 355 .00 08/08/2003 357 .92 07/11/2003 (2.92) 000 109 .00 Fuel Tech N V 571 .13 08/08/2003 670.10 07/25/2003 (98 .97) 0.00 133 .00 FINDWHAT .COM 2,394.39 08/08/2003 3,047.28 07/08/2003 (652.89) 0.00 266.00 FINDWHAT .COM 4,788.78 08/0&'2003 6,051.71 07121/2003 (1,262 .93) 0.00 371 .00 Grupo Financiero Galicia-B ADR 1,569.25 08/08/2003 1,009.13 04/1012003 560 .12 0.00 456.00 Harvest Natural Resources 2,613.07 08/0812003 3,075.58 06/11/2003 (462 .51) 0.00 722.00 Harvest Natural Resources 4,137.36 08/08/2003 4,557 12 06/23/2003 (419 .76) 000 231 .00 Imax Corp 1,705-11 Oa/08/2003 1,170.55 0312612003 534 .56 0.00 505 .00 Imax Corp 3,727.63 08/08/2003 2,63635 04/08/2003 1,091 .28 0.00 8800 Kyphonlnc 1,761.67 08/08/2003 1,063.04 05/27/2003 698 .63 0.00 114.00 Kyphonlnc 2,282.17 08/08/2003 1,535.58 06102/2003 746 .59 000 191 .00 Lionbndge Technologies Inc. 1,205.15 08/08/2003 1,009.28 07/11/2003 195 .87 0.00 99.00 Lionbndge Technologies Inc. 624.66 08/0&'2003 641 .24 07124t2003 (1658) 000 183.00 Laserscope 1,690.56 08/08/2003 1,80359 07/2512003 (113 .03) 000 427 .00 Laserscope 3,944.65 08/08f2003 4,297 16 07/2812003 (352.51) 0.00 809 .00 Laserscope 7,473.59 08/08/2003 8,14477 07/29/2003 (671 .18) 0.00 327 .00 Mannatech Inc 1.700.52 08/0&'2003 2,509.56 06/30/2003 (809 .04) 0.00 370.00 Mannatech Inc 1,92413 08/0812003 2,782.40 0710V2003 (858 .27) 0.00 491.00 Mannatech Inc 2,553.38 08/08/2003 3,488.21 07/18/2003 (934.83) 0.00 425.00 Mannatech Inc 2,210-15 08/0=003 3,277.26 07/21/2003 (1,067 .11) 0.00 27.00 Omnivision Technologies 1,088.05 08108/2003 1,05948 07/14/2003 28 .57 0.00 87.00 Orniuvision Technologies 3,505.93 08/08/2003 3,67271 07/29/2003 (166.78) 000 65.00 Penwest Pharmaceuticals Co 1,357.78 08/OW003 1,534.65 07/31/2003 (176.87) 0.00 199.00 Select Comfort Corp . 3,670.63 08/08/2003 3,215.62 05/30/2003 455 .01 0.00 605-00 Sonus Network 3,455.11 08108/2003 1,987.24 05/0212003 1,467.87 0.00 1,212.0 Sonus Network 6,921.64 09/08/2003 3,887.02 05/01/2003 3,03462 0.00 314 .00 Sonus Network 1,793.23 08/0812003 1,03139 05/02/2003 761 .84 0.00 2,143.00 24n Real Media Inc. 3,01288 08/0812003 2,73408 07/07/2003 278 .80 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 50 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056404 -- RHD FOUNDATION - EMERGING GROWTH

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452 .00 24/7 Real Media Inc 635.48 08/0812003 861 .68 07/18/2003 (226 .20) 0.00 384 .00 Ultra Petroleum Corp ADR 5,14919 08/0&*2003 5,06047 08/07/2003 88.72 0.00 483 .00 Ultratech Stepper Inc 10,504 .75 08/0812003 11,593 .64 0712912003 (1,088 .89) 0.00 706 .00 Vixel Corp 5,294.75 08/08/2003 5,933.86 08/01/2003 (63911) 0.00 295 .00 Vixel Corp 2,212.39 08/0&'2003 2,50470 08/04/2003 (292 .31) 0.00 140 .00 Alans Medical Inc 2,141 .90 08/11/2003 2,36026 07r2412003 (21836) 0.00 23.00 Alans Medical Inc 351 .88 08/11/2003 381 .63 09/0412003 (2975) 0.00 47.00 Angiotech Pharmaceuticals 2,107.38 08/11/2003 2,052.94 07/0812003 54.44 0.00 427.00 AT Road Inc 5,201 .51 08/1112003 3,435.43 05/21/2003 1,766.08 0.00 201 .00 AT Road Inc 2,448.48 08/1112003 1,706.49 05/27/2003 741 .99 000 773.00 Bentley Pharmaceuticals 11,88045 08/11/2003 12,131 .46 08/11/2003 (251 .01) 0.00 56.00 Closure Medical Corporation 1,383.69 08111/2003 1,358.00 07/25/2003 25.69 000 114 .00 Columbia Laboratories Inc. 1,40099 09111/2003 1,475.68 07/31/2003 (74 .69) 0.00 58.00 FINDWHAT.COM 1,082.80 08/11/2003 1,319.55 07/2112003 (236 .75) 0.00 340 .00 Harvest Natural Resources 1,988.90 08/1112003 2,146.01 06/23/2003 (157 .11) 0.00 876 .00 finax Corp 6,04998 08/1112003 4,438.95 03/2612003 1,611 .03 0.00 115 .00 LCA Vision Inc 1,49492 08/1112003 1,528-35 08/05/2003 (33 .43) 0.00 193.00 Uonbndge Technologies Inc. 1,225.49 08111/2003 1,019.85 07/11/2003 205.64 0.00 136.00 Laserscope 1,279.69 08/1112003 1,340.38 07/25/2003 (6069) 0.00 33.00 Millicom Intl Cellular S.a. 919.66 0911112003 886.75 07/01/2003 32.91 0.00 706.00 Mannatech Inc 3,82634 08/11/2003 4,970.73 07/1112003 (1,144 .39) 0.00 174.00 Mannatech Inc 94303 08/11/2003 1,236.15 07/18/2003 (293 .12) 0.00 16800 Navigant Consulting Co 2,215.79 08/11/2003 1,621.30 05/27/2003 59449 0.00 25.00 N11 Holdings Inc - Cl B 1,245.69 08/11/2003 1,295.52 08/01/2003 (49 .83) 0.00 106.00 Performance Tech Inc 1,09810 08/1112003 1,101.68 07122/2003 (358) 0.00 56.00 Select Comfort Corp. 1,048.83 08/11/2003 904.90 05/30/2003 143 .93 0.00 298 .00 Some Solutions 3,61158 08/11/2003 3,660.78 07/31/2003 (4920) 000 1,230.00 Terayon Communication Sy 5,817.62 08/11/2003 6,183.54 08/01/2003 (365 .92) 0.00 984.00 24/7 Real Media Inc. 1,562.35 08/11/2003 1,255.41 07/07/2003 306 .94 0.00 2,004.00 24/7 Real Media Inc. -3,210.87 08/11/2003 2,454.52 06105/2003 756.35 0.00 1,693.W- 24n Real Media Inc. 2,712.57 08/11/2003 2,159.96 07/07/2003 552.61 0.00 347.00 TLC Vision Corp 1,97780 08111/2003 1,764.20 06/13/2003 213.60 0.00 247.00 Transaction Sys Archtcts 2,693.73 08/11/2003 3,033 16 08/06f2003 (339 .43) 0.00 121 .00 Transaction Sys Archtcts 1,319.60 08/11/2003 1,47983 08/08/2003 (160.23) 0.00 161.00, UItrabfe Batteries Inc 2,100.95 08/1112003 1,622.88 07/07/2003 47807 0.00 40.00 United Online Inc 1,23274 08/11/2003 1,218.44 0712812003 1430 0.00 423 .00 Ultra Petroleum Corp ADR 5,96401 08/11/2003 5,296.30 08/0612003 667.71 0.00 135.00 Ultra Petroleum Corp ADR 1,903.41 09/1112003 1,779.07 08/07/2003 124 .34 0.00 36.00 Ventana Medical Sys Inc 1,241 .22 08/11/2003 1,342.63 07/1412003 (101 .41) 0.00 64200 Verso Technologies Inc 1,945.90 08/11/2003 2,168.72 08/07/2003 (22282) 0.00 699.00 Verso Technologies Inc 2,118.66 08/11/2003 2,278.18 08108/2003 (159 .52) 0.00 393 .00 Alans Medical Inc 5,979.64 08/12/2003 6,49106 07/30/2003 (511421 000

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss Premium Discount) 287.00 Alans Medical Inc 4,366.81 08/12/2003 4,76208 08/04/2003 (395 27) 0.00 5.00 Angiotech Pharmaceuticals 229.25 08/12/2003 21840 07/08/2003 10.85 0.00 215.00 Angiotech Pharmaceuticals 9,857.65 08/12/2003 9,352.50 07/09/2003 505.15 0.00 926.00 Asialafo Holdings Inc 6,027.97 08/12/2003 8,531 .05 07/02/2003 (2,503.08) 000 416.00 Bentley Pharmaceuticals 6,560.97 08/12/2003 6,528.70 Oa/l 1/2003 3227 0.00 784.00 Epic Design Tech 5,519.09 08/12/2003 5,89678 08/12/2003 (377.69) 0.00 1,139.00 Grupo Financiero Gaticia-B ADR 4,668.12 08/12/2003 3,098.10 04110/2003 1,57002 0.00 27.00 J2 GLOBAL COMMUNICATIONS INC 1,340.07 08/1212003 1,363.16 07/2212003 (23 09) 0.00 200.00 Navigant Consulting Co 2,704.69 08/1212003 1,825.80 05/2212003 878.89 0.00 512.00 Navigant Consulting Co 6,924.01 08/1212003 4,941 .11 05/27/2003 1,982.90 0.00 503.00 Sharper Image Corp. 12,756.73 08/12/2003 13,573.05 06/13/2003 (816.32) 0.00 95.00 Sharper Image Corp. 2,409.32 08/12/2003 2,588.75 0611612003 (179.43) 000 9000 Sonic Solutions 1,076.21 08/1212003 1,105.61 07/31/2003 (29.40) 000 214.00 Sobu com Inc. 6,410.27 08/12/2003 1,393.92 12123/2002 5,016.35 0.00 490.00 Sunpletech Inc 1,974.60 08/1212003 2,705.26 07/2312003 (73066) 0.00 248.00 Terayon Communication Sy 1,137.27 Oa/1212003 1,24676 08/01/2003 (109.49) 000 773.00 24(7 Real Media Inc. 1,253.75 08/1212003 94678 06105/2003 306.97 0.00 2,780.00 24f7 Real Media Inc 4,508.95 08/12/2003 3,301 .01 06/13/2003 1,207.94 000 248.00 Alans Medical Inc 3,681.36 08/13/2003 3,943.82 07/16/2003 (262.46) 000 28300 Alans Medical Inc 4,200.90 08/13/2003 4,674.23 07/3012003 (473.33) 0.00 73 00 Ask Jeeves; Inc 1,186.19 08/1312003 477.17 02118/2003 709.02 000 297.00 Closure Medical Corporation 7,571.84 08113/2003 7,022.45 07/22/2003 549.39 0.00 235.00 Closure Medical Corporation 5,991.18 08/13/2003 5,698.75 07/25/2003 292.43 000 229.00 Epic Design Tech 1,634.98 08/13/2003 1,722.40 08/1212003 (87.42) 0.00 501 .00 Navigant Consulting Co 6,763.18 08/13/2003 4,57363 05/2212003 2,189.55 000 1,788.00 Simpletech Inc 6,727.63 08/13/2003 9,87143 07/23/2003 (3,143.80) 0.00 500.00 Alans Medical Inc 7,417.65 08/14/2003 7,951 .25 07/16/2003 (533.60) 000 1,080.00 Harvest Natural Resources 5,90959 08/14/2003 6,798.82 06/10/2003 (889.23) 000 449.00 Harvest Natural Resources 2,456.86 08/14/2003 2,83400 06123/2003 (377.14) 0.00 1,684.00 Homestore.com 4,334.38 08/14/2003 6,35835 07/29/2003 (2,023.97) 0.00 120.00 LCA Vision Inc 1,753.12 08/14/2003 1,59480 08/05/2003 158.32 0.00 832.00 LCA Vision Inc 12,154.94 08/14/2003 12,31210 08/12/2003 (157.16) 0.00 1,087.00 Mannatech Inc 6,785.82 08/14/2003 7,653.24 07/11/2003 (867.42) 0.00 465-00 Mannatech Inc 2,902.86 08/14/2003 3,210.03 07/16(2003 (307.17) 000 350-00 Mannatech Inc 2,18495 08/14/2003 2,38700 07/17/2003 (20205) 000 194.00 Sohu com Inc. 5,93771 09/1412003 1,26365 12123/2002 4,674.06 0.00 943.00 Sonus Network 6,023.59 08/W2003 3,024.31 05/0112003 2,999.28 0.00 10.00 Simpletech Inc 38.09 08/14/2003 5521 07/2312003 (17.12) 000 1,333.00 TLC Vision Corp 7,565.38 08/14/2003 6,777.18 06113/2003 78820 0.00 2,106.00 TLC Vision Corp 11,952.50 08/1412003 13,120.10 09/12/2003 (1,16760) 0.00 398-00 TLC Vision Corp 2,258.83 08/14/2003 2,447.70 08/13/2003 (18887) 0.00 241.L.0 Transaction Sys Archtcts 2,723.17 08/14/2003 2,935.38 07/31/2003 (212.21) 000 Dyiehaus Capital Management Friday January 23, 2004 16:50:14 Page 52 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION- EMERGING GROWTH

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360.00 Transaction Sys Archtcts 4,067.80 08/14/2003 4,40290 08/08/2003 (335 .00) 0.00 309 .00 Ask Jeeves Inc 4,987.76 08/15/2003 2,019.81 02/18/2003 2,967.95 0.00 303 .00 Imax Corp 2,172.40 08/15/2003 2,178.57 08/12/2003 (6.17) 0.00 2,352.00 Looksmart Ud 8,062.56 08/15/2003 9,072.20 07/16/2003 (1,009.64) 000 672.00 LA)oksmart Ltd 2,30359 08/1512003 2,714.88 08/1212003 (411 .29) 000 258 .00 Mdbcom Intl Cellular S a. 8,22981 08/15/2003 6,81662 06/25/2003 1,413 19 000 153 .00 Milhcom Intl Cellular S.a. 4,880.47 Oa/15/2003 4,111.28 07/0112003 769.19 000 324.00 Sohu com Inc. 9,45387 08115/2003 2,110.42 12123/2002 7,343.45 0.00 107 .00 Simpletech Inc 395 .88 08/1512003 59074 07/23/2003 (19486) 0.00 142 .00 Angiotech Pharmaceuticals 6,463.53 Oa/ 18/2003 6,171 .16 07/07/2003 292 .37 0.00 136 .00 Angiotech Pharmaceuticals 6,190.43 08/18/2003 5,916.00 07/0912003 27443 0.00 2300 Anglotech Pharmaceuticals 1,046-91 08/1812003 980.49 07/25/2003 6642 0.00 26900 Ask Jeeves Inc 4,375.78 08/18/2003 1,758.35 02/18/2003 2,617.43 0.00 259 .00 Ask Jeeves Inc 4,213-11 08/18/2003 4,530.74 08/1812003 (317 .63) 0.00 306 .00 Imax Corp 2,187.89 08/1812003 1.32804 03/14/2003 859 .85 0.00 3%.00 Imax Corp 2,831.38 08/18f2003 1,902.83 0311812003 ixa .55 000 160.00 Imax Corp 1,143.99 08/18/2003 810 .77 03/26(2003 33322 0.00 45.00 Imax Corp 321 .75 08/18/2003 323.55 08/12/2003 (1 .80) 0.00 934.00 Laserscope 9,471.05 0811&'2003 9,72163 08/13/2003 (250.58) 0.00 242 .00 Laserscope 2,453.96 08/18f2003 2,511 .96 08/1412003 (58 .00) 0.00 9.00 Simpletech Inc 33.15 08/1&'2003 49.69 07/23/2003 (16 .54) 0.00 262.00 Simpletech Inc 965-11 08/18/2003 1,252.36 08/05/2003 (287.25) 0.00 2,003.00 TLC Vision Corp 11,223 .87 08/1 &-2003 10,06285 06t 1212003 1,161.02 0.00 301 .00 TLC Vision Corp 1,696-66 08/18/2003 1,53033 06113/2003 156.33 0.00 1,049.00 Ultrahfe Batteries Inc 12,749.05 08/1 &-2003 10,41657 06/0512003 2,332.48 000 31.00 Ultralife Batteries Inc 376.76 08/18/2003 291-40 0611 2J2003 85 .36 0.00 464.00 Ultralife Batteries Inc 5,639.23 08/18f2003 4,677.12 07/07/2003 962 .11 0.00 754.00 Alans Medical Inc 11,898 .09 08/19/2003 11,99049 07/1612003 (92 .40) 000 294.00 Alaris Medical Inc 4,639.31 0811912003 4,40950 08/08/2003 229.81 0.00 1,546.60 Grupo Fmanciew Galicia-B ADR 6,163.56 08/1912003 4,197.67 03124/2003 1,965.89 0.00 1,130.00 Grupo Financiem Galicia-B ADR 4,505-06 08/1912003 3,073.62 0411=003 1,431.44 0.00 453.00 Imax Corp 3,307-01 0811912003 1,72534 02/27/2003 1,581.67 0.00 381 .00 [max Corp 2,78140 08/19/2003 1,653.54 03/14/2003 1,127.86 0.00 376.00 Imax Corp 2,744-90 08/19/2003 1,627.44 03/17/2003 1,117.46 0.00 33.00 NII Holdings Inc - Cl B 1,915.29 08/19/2003 1,78982 08/1212003 125 .47 0.00 197 .00 Nil Holdings Inc - Cl B 11,433 .68 08/19/2003 10,960 .75 08/13/2003 472 .93 0.00 388.00 Mannatech Inc 2,400.48 08120/2003 2,612.71 06127/2003 (21223) 0.00 973.00 Mannatech Inc 6,019.76 08/20/2003 6,312.92 07/09/2003 (293 .16) 0.00 128 .00 Mannatech Inc 79191 OWW2003 872.96 07117/2003 (81 .05) 0.00 2,752.00 Terayon Communication Sy 18,797 .32 OWW2003 13,929 .25 08/13/2003 4,868.07 0.00 1,19400 Terayon Communication Sy 8,155.52 08120/2003 6,134.53 08/14/2003 2,02099 0.00 720.00 Angtotech Pharmaceuticals 32,224 .75 08/21/2003 21,833 .21 05/29/2003 10,391 .54 0.00

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360.00 Angiotech Pharmaceuticals 16,112.38 08/2112003 10,727 .96 05/30/2003 5,384.42 0.00 177.00 Angiotech Pharmaceuticals 7,92192 08121/2003 5,543.89 06104/2003 2,378.03 0.00 471 .00 Angiotech Pharmaceuticals 21,08036 0&21/2003 20,078 .73 07/25/2003 1,001 .63 0.00 458.00 FINDWHAT.COM 9,842.91 08/21/2003 10,046 .55 07/07/2003 (203 .64) 0.00 414.00 FINDWHAT.COM 8,89731 08/21/2003 9,41883 07121/2003 (521 .52) 000 563.00 Home-store.com, 1,701 .07 0&-2112003 2,125.74 07/29/2003 (424.67) 0.00 702.00 Homestore com 2,121.05 08/21/2003 2,631.52 07/31/2003 (510.47) 000 137.00 Mannatech Inc 86648 08/21/2003 85273 06/262003 13 .75 0.00 37600 Mannatech Inc 2,37808 08/21/2003 2,439.53 07/09/2003 (61 .45) 0.00 724.00 Omnivision Technologies 29,521 .52 08/21/2003 28,40976 07/14/2003 1,111 .76 000 143.00 Oninivision Technologies 5,83091 08/21/2003 6,181.40 08/14/2003 (35049) 0.00 1,419.00 Terayon Communication Sy 9,37148 08/2112003 7,133.69 08/0112003 2,237.79 0.00 3840,0 Terayon Commun cation Sy 2,536.05 08/2112003 1,922.80 09/08/2003 613.25 0.00 39.00 Terayon Commun cation Sy 257.57 08/21/2003 197 .40 08/13/2003 60 .17 0.00 1,449.00 AT Road Inc 19,287 .88 08/25/2003 11,483 .33 05/19/2003 7,804.55 0.00 22.00 AT Road Inc 292.85 08/25/2003 177 .00 05/21/2003 115 .85 0.00 60.00 Ask Jeeves Inc 1,011 .47 0&'2512003 392.20 02/18/2003 619.27 0.00 299.00 Ask Jeeves Inc 5,040.48 08/25/2003 5,468.71 08/2012003 (428.23) 0.00 75.00 FINDWHAT .COM 1,487.18 OW25/2003 1,505.24 07103/2003 (18.06) 0.00 258.00 FINDWHAT .COM 5,115.90 OU2512003 5,65941 07/0712003 (543 .51) 0.00 58.00 FINDWRAT .COM 1,150.09 08/25/2003 1,154.53 08/12/2003 (4.44) 0.00 293.00 Sohu corn Inc. 8,567.58 08/25/2003 9,693.32 08/20/2003 (1,125 .74) 0.00 1,278.00 TLC Vision Corp 6,74160 08/25/2003 6,092.80 06tl 1/2003 648.80 0.00 675.00 TLC Vision Corp 3,560.70 0&125/2003 3,391.13 0611212003 169 .57 0.00 775.00 Ultralife Batteries Inc 9,631 .47 08t25/2003 7,285.00 0611212003 2,346.47 0.00 128 .00 Sohu com Inc. 3,795.39 08/26/2003 83375 12/23/2002 2,961.64 000 167.00 Sohu corn Inc. 4,951 .80 08/2612003 5,524.86 08/20/2003 (57306) 000 44.00 Ultrahfe Batteries Inc 524 .45 08/26/2003 40841 0512912003 11604 000 141.00 Ultralife Batteries Inc 1,680.64 08/26/2003 1,325.40 06/12/2003 355 .24 0.00 525.00 Epic Design Tech 3,873.68 08/27/2003 4,12650 08/15/2003 (252 .82) 0.00 708.00 Fuel Tech N V 3,823.01 08/27/2003 4,34004 07/23/2003 (517.03) 000 121.00 Fuel Tech N V 653.37 08/27/2003 74387 07125/2003 (90.50) 0.00 331 .00 FINDWHAT .COM 6,703.29 0&-27/2003 6,588.79 08/1212003 114 .50 0.00 402.00 Laserscope 3,82043 W27/2003 3,96199 07/2512003 (141 .56) 0.00 130 .00 Laserscope 1,235.46 08/27/2003 1,349.40 08/1412003 (113.94) 0.00 419.00 Navigant Consulting Co 5,843.39 08/27/2003 3,825.05 05/2212003 2,01834 000 507-00 TIC Vision Corp 2,57706 0&-27/2003 2,417.10 06111/2003 15996 0.00 605-00 TLjC Vision Corp 3,07519 08127/2003 2,84608 07/07/2003 229 .11 0.00 8.00 Ultralife Batteries Inc 9679 08/27/2003 7426 05/29/2003 22 .53 000 140-00 Closure Medical Corporation 3,585.93 0812&'2003 3,307.09 07/21/2003 278.94 0.00 185 .00 Closure Medical Corporation 4,738.55 08/28/2003 4,374.25 07/22/2003 364.30 0.00 149-00 Epic Design Tech 1,092.43 08/28/2003 1,171 14 08/15/2003 (78 .71) 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 54 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHO FOUNDATION - EMERGING GROWTH

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137 .00 Epic Design Tech 1,004.45 08/28/2003 1,064.04 08/19/2003 (59 .59) 0.00 29100 Epic Design Tech 2,133.54 08/2&'2003 2,274.49 08/20/2003 (14095) 0.00 44.00 Fuel Tech N V 234.07 08/2&*2003 269.72 07/23/2003 (35 65) 000 332.00 Fuel Tech N V 1,76615 08128/2003 2.025 .17 07/31/2003 (25902) 0.00 261 .00 Kyphon Inc 6,143.75 08/28/2003 5,60628 08/1212003 53747 0.00 320A Kyphon Inc 7,532.57 08/28/2003 7,37958 08/13/2003 152 .99 0.00 30200 Laserscope 2,899.06 0&-28/2003 2,97642 07/25/2003 (77 .36) 0.00 280.00 Navigant Consulting Co 3,95529 0&-28/2003 2,556.12 0512212003 1,399.17 0.00 309 .00 Performance Tech Inc 3,819.06 0&'2812003 2,997.92 07/0&'2003 821 .14 0.00 452.00 Performance Tech Inc 5,586.45 0812&-2003 4,687.24 07/21/2003 89921 0.00 130-00 Performance Tech Inc 1,606.72 08/28t2003 1,351.12 07/22/2003 255 .60 0.00 501 .00 Performance Tech Inc 6,192.06 08/2&'2003 6,097.27 09/19/2003 94.79 0.00 265.00 Ultrahfe Batteries Inc 3,047.35 0&-28/2003 2,459.73 05/29/2003 587 .62 0.00 735.00 Closure Medical Corporation 18,249 .19 08/29/2003 17,360.85 07/18/2003 888 .34 0.00 313.00 Clostire Medical Corporation 7,771.42 0812912003 7,393.72 07/21/2003 377 .70 0.00 134 .00 Epic Design Tech 983 .32 08129/2003 1,040.74 08/19/2003 (57 .42) 0.00 502.W Laserscope 4,818.97 08129/2003 4,947.56 07/25/2003 (128 .59) 0.00 221.00 Closure Medical Corporation 5,483.59 09/02r2003 4,833.27 07/17/2003 650.32 0.00 18-00 Closure Medical Corporation 446.63 09/02/2003 425.16 07/18/2003 21 .47 0.00 63-00 Switchboard Incorporated 751 .54 09/02/2003 478.43 08/13/2003 273.11 0.00 164-00 Switchboard Incorporated 1,956.38 09/02/2003 1,254.65 08/19/2003 701 .73 0.00 353.00 TLjC Vision Corp 1,800.95 09/02/2003 1,660.60 07/07/2003 140 .35 0.00 190-00 United Online Inc 7,389.59 09/02/2003 5,59740 07/25/2003 1,792.19 0.00 189.00 Closure Medical Corporation 4,668.08 09/03/2003 4,133.43 07/1712003 534.65 0.00 452.00 J2 GLOBAL COMMUNICATIONS INC 16,337 .27 09/03/2003 12,13620 08/14/2003 4,20107 0.00 103.00 Switchboard Incorporated 1,163.30 09/03/2003 782.20 08/1312003 381 .10 0.00 409-00 Ultrahfe Batteries Inc 4,262.27 09/03/2003 3,717.81 05127/2003 544.46 0.00 383-00 U`ltrahfe Batteries Inc 3,991 .32 09/0312003 3,555.01 05/29/2003 436.31 0.00 417.00 LCA Vision Inc 6,318.04 09/0412003 5,524.17 07/31/2003 793.87 0.00 79.00 LCA Vision Inc 1,196.94 09/04/2003 1,049.91 08/05/2003 147.03 0.00 43.00 Navigant Consulting Co 676.12 09/04/2003 38990 05/1412003 286.22 000 344.00 Navigant Consulting Co 5,408.94 09/04/2003 3,140.38 05/22r2OO3 2,268.56 000 611.00 Navigant Consulting Co 9,607.16 09/04/2003 9,471.17 09/02/2003 13599 000 45.00 Penwest Pharmaceuticals Co 979.15 09/04/2003 1,062.45 07/31/2003 (83 .30) 0.00 998.00 Select Comfort Corp. 23,471 .85 09/04/2003 19,923 .07 08/1212003 3,548.78 0.00 531 .00 TLC Vision Corp 2,798.40 09/04/2003 2,345.34 0610512003 453 .06 0.00 793.00 TLC Vision Corp 4,179.15 09/04/2003 3,721 .79 06106/2003 457 .36 0.00 2,483.00 TLC Vision Corp 13,08553 09/04/2003 11,68067 07/07/2003 1,404.86 0.00 219.00 Transaction Sys Archtcts 3,467.87 09/04/2003 2,79078 08/25/2003 677 .09 0.00 212-00 Transaction Sys Archtcts 3,357.03 09/04/2003 2,774.55 0&'26/2003 582.48 0.00 247.00 Ultrahfe Batteries Inc 2,674.88 09/04/2003 2,245.23 05/27/2003 429 .65 0.00 1,217.00 Ul=hfe Batteries Inc 13,179 .49 09/0412003 11,047 .32 05/30/2003 2,132.17 0.00

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338.00 Ututed Online Inc 13,485 .56 09/04/2003 9,957.48 07/2512003 3,52808 000 1,049.00 Verso Technologies Inc 5,061.81 09/04/2003 3,88063 0812012003 1,181.18 0.00 18600 Verso TechnologLes Inc 897.52 09/04t2003 693 It 08f2If2M3 204.41 000 918.00 Verso Technologies Inc 4,429.68 09/04/2003 3,594.92 08/27/2003 834 .76 0.00 1,853.00 Verso Technologies Inc 8,941 .40 09/002003 8,37416 09/03/2003 567.24 0.00 82.00 Closure Medical Corporation 1,93920 09/05/2003 1,793.34 07/17/2003 14586 0.00 165 .00 LCA Vision Inc 2,570.58 09/05/2003 2,18582 07/31/2003 384 .76 0.00 147 .00 LCA Vision Inc 2,290.15 09/05/2003 1,918.67 08/01/2003 371 .48 000 91 .00 Martek Biosciences Corp 4,48204 09/05/2003 2,236.78 02120/2003 2,245.26 000 71 .00 Martek Biosciences Corp 3,496.98 09/05/2003 1,73595 02/21/2003 1,761.03 0.00 2600 Martek Biosciences Corp 1,28058 09/05/2003 66194 03/14/2003 618.74 0.00 63.00 Martek Biosciences Corp 3,102-95 09/05/2003 2,96982 08/12/2003 133 .13 000 191 .00 Martek Biosciences; Corp 9,407.36 09/05/2003 9,47694 08/2112003 (69.58) 0.00 344.00 Navigant Consulting Co 5,315.33 09105/2003 3,11919 05/14/2003 2,196.14 000 825.00 Network Engines Inc 5,246.34 09/05/2003 4,72214 08/19/2003 524 .20 0.00 1,517.00 Network Engines Inc 9,646.90 09/05/2003 10,059.99 09/03f2OO3 (41309) 0.00 256.00 Openwave Systems Inc 1,182.74 09/05/2003 1,058.56 08/04/2003 12418 0.00 1,276.00 Openwave Systems Inc 5,895.24 09/05/2003 5,755.65 08/18/2003 139 .59 0.00 110.00 Penwest Pharmaceuticals Co 2,338.48 09/05/2003 2,570.64 07/30/2003 (232.16) 0.00 61.00 Penwest Pharmaceuticals Co 1,296.80 09/05/2003 1,440.21 07/3112003 (143 .41) 0.00 679.00 Primus Telecommun Grp 5,623.00 09/05/2003 5,304.08 08/27/2003 318 .92 0.00 9.00 Ultrahfe Batteries Inc 97.65 09/05/2003 78.16 05/22/2003 19.49 0.00 532.00 Ultralife Batteries Inc 5,771 .92 09/05/2003 4,829.23 0550/2003 942 .69 0.00 120.00 Closure Medical Corporation 2,89922 09/08/2003 2,624.40 07/17f2OO3 274 .82 0.00 591 .00 Laserscope 5,785.32 0910812003 5,358.12 0712212003 427 .20 0.00 475.00 Laserscope 4,649.79 09/08/2003 4,68146 07/25/2003 (31 .67) 0.00 201 .00 Martek Biosciences Corp 9,934.02 09/08/2003 4,914.45 02/21/2003 5,01957 000 372.00 Penwest Pharmaceuticals Co 7,815.35 09/08/2003 8,514.78 07/16f2003 (699.43) 0.00 65.00 Penwest Pharmaceuticals Co 1,365.58 09/08/2003 1,519.02 07/3012003 (153 .44) 0.00 281 .00 Performance Tech Inc 3,298.78 09/0812003 2,726.26 07/08/2003 572 .52 0.00 240.00 Select Comfort Corp. 5,647.24 09/08f2OO3 3,878 14 05/30/2003 1,769.10 000 53.00 Select Comfort Corp 1,247.10 09/08f2003 85068 06tO2/2003 396 .42 0.00 306.00 Select Comfort Corp 7,200.24 09/08/2003 6,108.68 08/12/2003 1,091.56 0.00 77.00 Closure Medical Corporation 1,879.67 09/09/2003 1,683.99 07/17/2003 195 .68 0.00 250-00 KyphonInc 6,149.71 09/09/2003 3,020.00 05/27/2003 3,12971 000 10.00 Kyphonlnc 24599 09/09/2003 21480 08/1212003 31 .19 0.00 200.00 Kyphonlnc 4,919.77 09/0912003 5,280.00 09/03/2003 (360.23) 0.00 59.00 Mdhcom Intl Cellular S.a. 2,519.50 09/09/2003 1,55894 06/2512003 96066 000 286.00 Milcom Intl Cellular S.a. 12,213 .17 09/09/2003 11,056.82 08127/2003 1,15635 0.00 133.00 Milticom Intl Cellular S.a 5,679.55 09/09/2003 5,42640 09/0212003 253 .15 0.00 636.00 Navigant Consulting Co 9,711 .39 09/09/2003 5,766.87 05/14/2003 3,944.52 0.00 19.00 NII Holdings Inc - Cl. B 1,204.92 09/09f2003 994.59 091OU2003 220.33 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 56 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RBD FOUNDATION- EMERGING GROWTH

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181 .00 N11 Holdings Inc - Cl B 11,478 .48 09109/2003 9,816.92 08/1=003 1,661 .56 000 603.00 Operiwave Systems Inc 2,756.11 09/09/2003 2,493.42 08/04/2003 262.69 0.00 1000 Openwave Systems Inc 45.71 09/09/2003 41 .00 08/15/2003 4.71 0.00 529.00 Penwest Pharmaceuticals Co 10,78051 09/09/2003 12,108 .39 07/16/2003 (1,327 .88) 0.00 27200 Penwest Pharmaceuticals Co 5,54310 09/09/2003 6,19621 07/22/2003 (653 .11) 0.00 285 .00 Penwest Pharmaceuticals Co 5,808.02 09/09/2003 6,47805 08/21/2003 (67003) 0.00 1,318.00 Primus Telecommun Grp 9,862.65 09/09/2003 9,82661 08/25/2003 36 .04 0.00 10800 Primus Telecommun Grp 808.17 09/09/2003 79251 08/26t2OO3 15 .66 0.00 41400 Primus Telecommun Grp 3,097.98 09/0912003 3,234.00 08/27/2003 (136.02) 0.00 688.00 Performance Tech Inc 7,445.93 09/0912003 6,674.98 07108/2003 770.95 000 474.00 TLC Vision Corp 2,795.70 09/09/2003 2,800.49 09/05/2003 (4.79) 000 174.00 Ventana Medical Sys Inc 7,142.36 09/09/2003 6,489.36 07/14/2003 653 .00 0.00 219.00 Ventana Medical Sys Inc 8,989.53 09/09/2003 8,077.31 07/22/2003 912 .22 0.00 161 .00 Ventana Medical Sys Inc 6,608.74 09/09/2003 6,782.93 09/05/2003 (17419) 0.00 64.00 Closure Medical Corporation 1,382.25 09/10/2003 1,39968 07/17/2003 (17 .43) 0.00 389.00 Mdhcorn Intl Cellular S.a 15,887 .94 09/1012003 10,277 .77 0612512003 5,61007 0.00 1,500.00 Navigant Consulting Co 21,100 .85 09/10/2003 13,374.15 05/1312003 7,726.70 0.00 18600 Navigant Consulting Co 2,616.51 09/1012003 1,686.54 05/14/2003 929 .97 0.00 360.1-13 Network Engines Inc 2,57038 09/10/2003 1,809.36 07128/2003 761 .02 0.00 1,47000 Network Engines Inc 10,495 .74 09/10/2003 7,915.22 08/18/2003 2,580.52 0.00 502 .00 Network Engines Inc 3,594.26 09/10/2003 2,873.35 08/19/2003 710.91 0.00 379 .00 TLC Vision Corp 2,218.10 09/10/2003 2,239.21 09/05/2003 (21.11) 0.00 218 .00 Vixel Corp 1,499.72 09/10/2003 1,853.00 09/03/2003 (353.28) 0.00 227 .00 Millicom Intl Cellular S.a. 9,256.80 09/11/2003 5,72428 06124/2003 3,53252 0.00 12.00 Milhcom Intl Cellular S.a. 489.35 09/1112003 31705 06(2512003 172.30 0.00 1,04600 Network Engines Inc 7,456.57 09/1112003 5,257.21 07/28/2003 2,199.36 0.00 453.00 N11 Holdings Inc - CI B 26,702 .55 09/11/2003 23,474.73 08/01/2003 3,22782 000 21000 NII Holdings Inc - Cl B 12,378 .67 09/11/2003 10,281 .85 08/04/2003 2,096.82 000 124.00 Nil Holdings Inc - Cl B 7,309.31 09/1112003 6,07288 08/05/2003 1,23643 0.00 85.00 N11 Holdings Inc - Cl B 5,010.41 09/11/2003 4,07745 08/0612003 93296 0.00 370.-- . Sonic Solutions 5,239.99 09/11/2003 4,605.72 08/21/2003 634.27 000 240.00 Switchboard Incorporated 2,599.07 09/11/2003 2,891.57 09/05/2003 (29250) 0.00 1,244.00 TLAC Vision Corp 7.102.90 09/11/2003 5,494.55 06105/2003 1,60835 0.00 19.00 TLC Vision Corp 108.48 09/11/2003 112.26 09/05/2003 (378) 0.00 74.00 Chordiant Software Inc. 225 .56 09/12/2003 277.35 09/02/2003 (51 .79) 0.00 1,558.00 Chordiant Software Inc. 4,749.01 09/12/2003 5,94049 09/03/2003 (1,19148) 000 800 .00 Faro Technologies Inc 8,399.60 09/1212003 9,14784 08/2712003 (748 .24) 000 651 .00 Laserscope 6,451.10 09/12/2003 6,707.71 09/09/2003 (25661) 0.00 120 .00 Mannatech Inc 909 .51 09/1212003 976.80 09/05/2003 (6729) 0.00 253.00 Mannatech Inc 1,917.54 09/12/2003 2,07141 09/08/2003 (153 .87) 0.00 1,457.00 Ultrahfe Batteries Inc 15,822 .27 09/12/2003 12,488 .68 05/21/2003 3,333.59 0.00 O.On 720.000 Ult-affe Batteries L-c 7,818.83 00/lZ/20003 6,252.77 0921/2003 1,566.Lv--

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71 .00 Vixel Corp 490.19 09/12/2003 603 .50 09/03/2003 (113 .31) 000 273.00 Chordiant Software Inc 921 .22 09/15/2003 1,023.19 09/0212003 (101 .97) 0.00 709.00 Caraco Pharin Labs Inc 6,98033 09/15/2003 7,84033 08/20/2003 (860 .00) 0.00 726.00 KCS Energy Inc. 4,952.32 09/1512003 5,307.06 09/05f2003 (35474) 0.00 8000 KCS Energy Inc 545 .71 09/15/2003 617 .60 09/08/2003 (71 .89) 0.00 117 .00 KCS Energy Inc. 798 10 09/1512003 840.65 09/10/2003 (42 .55) 0.00 1,087.00 Laserscope 10,815 .14 09/15/2003 9,614.19 07/21/2003 1,200.95 0.00 525.00 Laserscope 5,223.50 09/15/2003 4,759.76 07/22/2003 463.74 0.00 415.00 Laserscope 4,12905 09/15/2003 4,276.04 09/09/2003 (146 .99) 0.00 100.00 Mannatech Inc 745.96 09/15/2003 622 .43 0612612003 12353 000 158.00 Mannatech Inc 1,178.62 09/15/2003 1,286.12 09/05/2003 (107,50) 0.00 984.00 Primus Telecommun Grp 7,173.02 09/15/2003 6,70842 08/12/2003 464.60 0.00 301 .00 Primus Telecommun Grp 2,194.18 09/15/2003 2,20877 0812612003 (14 .59) 000 789 .00 Performance Tech Inc 8,055.30 09/15/2003 7,654.88 07/08/2003 400.42 0.00 151-00 Trident Microsystems 1,99008 09/15/2003 2,14207 09/04/2003 (151 .99) 0.00 263 .00 Ultra Petroleum Corp ADR 3,667.30 09/15/2003 3,942.67 09/04/2003 (175 .37) 0.00 179.00 Ultra Petroleum Corp ADR 2,496.00 09/15/2003 2,595.21 09/05/2003 (9921) 0.00 405-00 Vixel Corp 2,848.96 09/15/2003 3,442.50 09/03/2003 (593 .54) 0.00 605 .00 Vixel Corp 4,255.85 09/15f2OO3 5,142.50 09/04/2003 (88665) 0.00 101.00 Chordiant Software Inc. 327 .99 09/1612003 37854 09/02/2003 (5055) 0.00 572.00 Caraco Pharm Labs Inc 5,523.54 09/1612003 6,320.60 08/11/2003 (797 .06) 0.00 17-00 Caraco Pharin Labs Inc 164 .16 09/16/2003 182 .75 08/15/2003 (18 .59) 0.00 1.00 Caraco Pharm Labs Inc 9.66 09/16/2003 1106 08/20/2003 (1 .40) 000 677.00 Epic Design Tech 6,322.88 09/1612003 6,44978 09/1212003 (126 .90) 0.00 1,024.00 Homestore .com 3,394.73 09/16/2003 3,838.57 07/31/2003 (443 .94) 000 398.00 J2 GLOBAL COMMUNICATIONS INC 17,407 .30 09/16(2003 16,753 .25 09/1212003 65405 0.00 895 .00 KCS Energy Inc. 5,968.20 09/16/2003 6,26348 08/14/2003 (295 .28) 0.00 27.00 KCS Energy Inc. 180 .05 09/16/2003 193 .99 09/1012003 (1394) 0.00 1,102.00 Kyphonlnc 26,53149 09/16/2003 13,312 .16 05/27/2003 13,219.33 0.00 35.^-0 Martek Biosciences Corp 1,816.60 0911612003 855 .75 0212Y2003 960.85 0.00 161-00 Martck Biosciences Corp 8,35634 09/1612003 8,498.79 09/10/2003 (14245) 0.00 196 .00 Mannatecb Inc 1,456.21 09/1612003 1,219 96 06126/2003 236.25 0.00 291-00 NII Holdings Inc - CI B 17,24094 09/1612003 13,959 .27 08/0612003 3,281.67 0.00 1,382.00 Openwave Systems Inc 6,268.92 09/1612003 5,666.16 08/15/2003 602.76 0.00 262 .00 Performance Tech Inc 2,701.09 09/1612003 2,541 .92 07/08f2003 159.17 0.00 7,490.00 24f7 Real Media Inc 11,14911 09/1612003 13,457 .85 09/04/2003 (2,308.74) 0.00 1,229.00 TLC Vision Corp 7,951.25 09/16t2003 4,676.21 061042003 3,275.04 0.00 1,016.00 TLAC Vision Corp 6,573.20 09/16t2OO3 4,487.51 06t05/2003 2,085.69 0.00 72-00 Trident Microsystems 922.06 09/1612003 943.34 08tl9/2003 (2128) 0.00 371 .00 Trident Microsystems 4,751.17 09/16/2003 4,882.36 09/03/2003 (131 .19) 0.00 510-00 Trident Microsystems 6,531.26 09/1612003 7,23481 09/04/2003 (703.55) 0.00 224.00 United Online Inc 8,76824 09/1612003 6,59904 07/25/2003 2,169.20 0.00 Dfiehaus Capital Management Friday January 23, 2004 16:50:14 Page 58 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION - EMERGING GROWTH

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185 .00 United Online Inc 7,241.63 09/1612003 5,422.61 07/29/2003 1,819.02 0.00 666.00 Ultra Petroleum Corp ADR 9,082.74 09/16/2003 9,443.55 08/28/2003 (36081) 0.00 568.00 Ultra Petroleum Corp ADR 7,746.24 09/1612003 8,235.09 09/05/2003 (48885) 0.00 62.00 Vixel Corp 43584 09/1612003 521 .10 08/01/2003 (85 .26) 0.00 262.00 Vixel Corp 1,841 .77 09/1612003 2,22700 09/04/2003 (385.23) 0.00 235 .00 Chordiant Software Inc. 772.83 09/17/2003 880 .77 09/02/2003 (107 .94) 0.00 760.00 Caraco Pharm Labs Inc 7,473.03 09/17/2003 7,790.00 0712512003 (316.97) 000 373 .00 Caraco Pharm Labs Inc 3,667.69 09/17/2003 4,009.75 09AY2003 (342.07) 0.00 194.00 Epic Design Tech 1,79471 09/17/2003 1,45915 08/12/2003 325 .56 0.00 469 .00 Epic Design Tech 4,314.59 09/17/2003 3,642.58 08/19/2003 672.01 0.00 490.00 Epic Design Tech 4,507.78 09/17/2003 4,632.85 09/11/2003 (125.07) 0.00 687 .00 Epic Design Tech 6,320.10 09/17/2003 6,545.05 09/12/2003 (224 .95) 0.00 1,430-00 Homestore .oom 4,363.89 09/17/2003 5,360.51 07/31/2003 (99662) 0.00 304.00 KCS Energy Inc. 1,97381 09/17/2003 2,127.48 08/14/2003 (15367) 000 1,094.00 KCS Energy Inc. 7,103.11 09/17/2003 7,642.47 08/27/2003 (539.36) 0.00 224.00 LjCA Vision Inc 4,146.04 09/17/2003 3,890.88 09/15/2003 255.16 0.00 208.00 Lionbridge Technologies Inc. 1,672.51 09/17/2003 1,099.11 07/11/2003 573 .40 0.00 1,388.00 ljoribridge Technologies Inc. 11,160 .79 09/17/2003 9,190.92 08/14/2003 1,96987 0.00 84.00 Mesa Air Group Inc. 995.10 09117/2003 1,100.14 0910812003 (105 .04) 0.00 622.00 Mesa Air Group Inc. 7,368.48 09/17/2003 7,936.22 09/09/2003 (567 .74) 0.00 59.00 Mesa Air Group Inc. 698.94 09/17/2003 727 .33 09/12/2003 (28 .39) 0.00 576.00 Mannatech Inc 4,082.49 09/17/2003 3,585.19 0612612003 497 .30 0.00 174 .00 Navigant Consulting Co 2,250.08 09/1712003 1,551.40 05/13/2003 698.68 0.00 54.00 Navigant Consulting Co 698 .30 09/17/2003 474.60 05/2112003 223 .70 0.00 947.00 Openwave Systems Inc 4,337.27 09/17/2003 3,882.68 08/15/2003 454.59 0.00 262.00 Performance Tech Inc 2,604.15 09/1712003 2,541.92 0710&2003 62.23 000 1,367.00 2417 Real Media Inc. 2,07071 09/17/2003 1,609.08 06106/2003 46163 0.00 938.00 24/7 Real Media Inc. 1,42087 09/17/2003 1,113.79 06/13/2003 307.08 0.00 6,016.00 2417 Real Media Inc. 9,112.96 09/17/2003 9,410.63 08/1912003 (297 .67) 0.00 4,610-00 24/7 Real Media Inc. 6,983.17 09/17/2003 8,141.21 09/0312003 (1,158 .04) 0.00 1,659.00 24f7 Real Media Inc. 2,513.03 09/17/2003 2,980.85 09/04/2003 (467 .82) 0.00 1,850-00 TLC Vision Corp 12,001 .30 09/17/2003 7,039.04 0610412003 4,962.26 0.00 355 .00 Trident Microsystems 4,618.33 09/17/2003 4,651.17 08/19/2003 (32 .84) 0.00 468.00 Ultra Petroleum Corp ADR 6,343.58 09/1712003 4,950.32 0510612003 1,393.26 0.00 375 .00 Ultra Petroleum Corp ADR 5,083.00 09/17/2003 4,031.25 05/12/2003 1,051.75 0.00 22.00 Ultra Petroleum Corp ADR 298.20 09/17/2003 240.24 05/13/2003 57.96 0.00 147.00 Ultra Petroleum Corp ADR 1,992.54 09/1712003 1,840.56 08/0612003 151 .98 0.00 333 .00 Ultra Petroleum Corp ADR 4,513.70 09/17/2003 4,721.77 08128/2003 (208 .07) 0.00 1,015.00 Vixel Corp 7,167.38 09/17/2003 8,53097 08/01/2003 (1,363 .59) 000 63.00 Ventana Medical Sys Inc 2,712.65 09/17/2003 2,320.29 07/1812003 392.36 0.00 111.00 Ventana Medical Sys Inc 4,779.43 09/17/2003 4,093.98 GWW2003 695.45 0.00 191.00 Ventana Medical .syys _cTn 8,22A n-7 0%/1712003 8,002.14 M11 V2003 221 .93 0.00

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552.00 Caraco Pharm Labs Inc 5,478 17 09/18/2003 5,65800 07/25/2003 (179 .83) 0.00 410.00 FINDWHAT .COM 11,048 .98 09/1 &-2003 11,160.20 09/12/2003 (111 .22) 000 265.00 Homestore com 794.96 09/18/2003 99338 07/31/2003 (198 .42) 0.00 10500 KCS Energy Inc. 653 .04 09/18/2003 733 .51 OM7/2003 (8047) 0.00 36000 KCS Energy Inc. 2,238.98 09/18/2003 2,484.00 09/04/2003 (24502) 000 322.00 LCA Vision Inc 5,970.97 09/1812003 5,593 14 09/15/2003 377 .83 000 230-00 Mannatech Inc 1,651 .32 09/1812003 1,431.59 06126/2003 21973 0.00 222.00 Performance Tech Inc 2,175.49 09/18/2003 2,15384 07/08/2003 21 .65 0.00 12700 Perforninnee Tech Inc 1,244.54 09/18/2003 1,16840 07/09/2003 7614 000 520.00 TLC Vision Corp 3,403.75 09/18/2003 1,97854 06/0412003 1,425.21 000 253.00 Ultra Petroleum Corp ADR 3.306.53 09/18/2003 2,676.13 05/0612003 630.40 0.00 60.00 Ultra Petroleum Corp ADR 784.16 09/1812003 622.20 05/07/2003 161 .96 000 1,25500 Ultra Petroleum Corp ADR 16,40195 09/1812003 13,257 .69 05/08/2003 3,14426 000 11.00 Ask Jeeves Inc 232.88 09/19/2003 216.66 09/0212003 1622 0.00 18400 Ask leeves Inc 3,895.44 09/19/2003 4,031.90 09/09/2003 (136 .46) 000 1,115.00 Chordiant Software Inc 3,605.02 09/19/2003 4,17898 09/02/2003 (573 .96) 0.00 1,043.00 Chordiant Software Inc. 3,372.23 09/19/2003 3,86507 09/08/2003 (492 .84) 0.00 469.00 Caraco Pharm Labs Inc 4,693.80 09/19/2003 4,807.25 07/2512003 (113 .45) 0.00 911 .00 Homestore.corn 2,746.11 09/19/2003 3.414.98 07/31/2003 (668 .87) 000 340.00 J2 GLOBAL COMMUNICATIONS INC 14,313 .32 09/19/2003 14,311 .82 09/12/2003 1.50 000 42.00 LCA Vision Inc 760.16 09/19/2003 54819 08/01/2003 211 .97 0.00 142.00 LCA Vision Inc 2,570.08 09/19/2003 2,466.54 09/15/2003 103 .54 0.00 234.00 Mesa Air Group Inc. 2,696.30 09/19/2003 2,880.31 09/03/2003 (184 .01) 0.00 297.00 Mesa Air Group Inc. 3,422.23 09/1912003 3,630.74 09/04/2003 (208 .51) 0.00 731 .00 Mesa Air Group Inc. 8,423.06 09/19/2003 8,959.94 09/05/2003 (536 .88) 0.00 286.00 Mesa Air Group Inc. 3,295.48 09/19/2003 3,525.69 09/1212003 (230 .21) 0.00 150.00 Mannatech Inc 1,064.94 09/19/2003 933 .64 0612612003 131 .30 0.00 757.00 Openwave Systems Inc 3,28044 09/19/2003 2,883.66 07/3112003 396.78 000 214.00 Openwave Systems Inc 927.36 09/19/2003 877 .39 08/15/2003 49.97 000 474.00 Ultra Petroleum Corp ADR 6,370.30 09/19/2003 4,915.38 05/07/2003 1,45492 0.00 807.00 Verso Technologies Inc 3,695.13 09/19/2003 3,756.60 09/11/2003 (61 .47) 0.00 1,230.00 Verso Technologies Inc 5,631 .97 09/1912003 5,832.78 09/16/2003 (200 .81) 0.00 126.00 Caraco Pharm Labs Inc 1,259.94 09/22/2003 1,291 .50 07/25/2003 (31 .56) 000 492.00 Epic Design Tech 4,501.78 09/2212003 2,43607 06t1312003 2,065.71 0.00 366.00 Epic Design Tech 3,348.88 09/22f2003 2,75283 08/12/2003 59605 0.00 330.00 LCA Vision Inc 5,739.21 09/22/2003 4,307.23 08/01/2003 1,431.98 0.00 288.00 Mannatech Inc 2,028.57 09122/2003 1,792.60 06126/2003 235 .97 0.00 428-00 Navigant Consulting Co 5,904.88 09/22/2003 3,761.65 05/21/2003 2,143.23 0.00 540.00 Network Engines Inc 3,636.78 09/2212003 2,714.05 0712812003 922 .73 0.00 407 .00 Network Engines Inc 2,741.05 0912212003 3,066.46 09/17/2003 (325.41) 0.00 693 .00 Netopia Inc 4,907.66 09/2212003 5,114.34 09/09/2003 (206.68) 0.00 358 .00 Netopia Inc 2,535.27 09/22/2003 2,606.03 09/10/2003 (70.76) 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 60 Gains and Loss Reportfrom 1110.112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION- EMERGING GROWTH

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1,155.00 Netopia Lac 8,179.43 09/22/2003 8,886.57 09/17/2003 (707 .14) 0.00 237.00 Openwavc Systems Inc 1,02220 09/22/2003 902.81 07/31/2003 119.39 000 839.00 Terayon Communication Sy 5,48948 0912212003 5,806-13 09/02/2003 (316 .65) 000 1,639-00 Terayon Communication Sy 10,723 .79 09/2212003 11,385 .31 09/03/2003 (661 .52) 0.00 23G.j3 Terayon Communication Sy 1,504.86 09/22/2003 1,536.86 09/18/2003 (32.00) 0.00 396.00 2417 Real Media Inc. 610.69 09/22/2003 449.69 06/04/2003 161 .00 0.00 5,269.00 24/7 Real Media Inc. 8,125.63 09/2212003 6,202.06 0610612003 1,92357 0.00 7.00 FINDWHAT.COM 146.88 09/23/2003 139.34 08/1212003 7.54 0.00 190-00 FINDWHAT.COM 3,98683 09/23/2003 4,436.37 09/0212003 (449 .54) 0.00 232.00 FINDWHAT.COM 4,868.13 0912312003 5,983.37 09/05/2003 (1,115 .24) 000 37.00 FINDWHAT.COM 776.38 09/23/2003 1,007.14 09/12/2003 (230 .76) 0.00 314.00 LCA Vision Inc 5,342.33 09/23/2003 4.002.37 07/25/2003 1,339.96 0.00 532.00 LCA Vision Inc 9,051.34 09/23/2003 6,943.77 08/01/2003 2,107.57 000 204.00 Mannatech Inc 1,407.53 09/23/2003 1,269.75 06126/2003 137.78 0.00 209.00 Navigant Consulting Co 2,823.47 09/23/2003 1,836.88 05/21/2003 986.59 0.00 387.00 Openwave Systems Inc 1,736.30 09/23/2003 1,47421 07/31/2003 262.09 0.00 74.00 Sonic Solutions 1,156.94 09/23/2003 921.14 08121/2003 23580 000 509.00 Sonic Solutions 7,957.84 09/23/2003 8,306.88 09/19/2003 (349 .04) 0.00 61 .00 Terayon Communication Sy 405.76 09/23/2003 30544 08/08/2003 100.32 0.00 689.00 Terayon Communication Sy 4,583.14 09/23/2003 4,402.23 09/17/2003 18091 0.00 59 .00 Terayon Communication Sy 392.46 09/2312003 394.24 09/18/2003 (1 .78) 0.00 300.00 Ventana Medical Sys Inc 12,620 .41 09/23/2003 10,303 .77 07/10/2003 2,316.64 0.00 300.00 Ventana Medical Sys Inc 12,620 .41 09/23/2003 10,505 .49 07/11/2003 2,114.92 0.00 524.00 Ventana Medical Sys Inc 22,043 .65 09/23/2003 19,298 .92 07/18/2003 2,744.73 0.00 52 .00 Ask Jeeves Inc 1,090.75 09124/2003 1,024.23 09/02/2003 66.52 0.00 1,108.00 deCODE Genetics 5,650.53 09/2412003 5,009-90 09123/2003 64063 0.00 321 .00 Concord Camera Corp . 3,519.08 09/24/2003 3,858.03 09/15/2003 (338.95) 0.00 97 .00 Concord Camera Corp . 1,063.40 09r2412003 1,192.02 09/16/2003 (128.62) 0.00 4.00 Concord Camera Corp. 43 .85 09/24/2003 48 .88 09/17/2003 (503) 0.00 91 .00 Concord Camera Corp. 997.62 09/24/2003 1,134.06 09/18/2003 (136.44) 0.00 34.00 Concord Camera Corp. 372.74 09/2412003 423.48 09/19/2003 (50.74) 0.00 610-00 Mannatech Inc 3,980.06 09r2412003 3,796.82 0612612003 183.24 0.00 475.00 Navigant Consulting Co 6,372.96 09r24/2003 4,139.77 05/20/2003 2,233.19 0.00 650.00 Navigant Consulting Co 8,720.89 09/24/2003 5,712.79 05/21/2003 3,008.10 0.00 1,625-00 Openwave Systems Inc 7,572.63 09/24/2003 6,190.15 07/31/2003 1,382.48 0.00 598.00 Select Comfort Corp. 16,158 .33 09/2412003 9,029.80 05/2212003 7,128.53 0.00 249.00 Select Comfort Corp. 6,728.14 09/24/2003 3,996-60 06/02/2003 2,731 .54 0.00 1,482.00 Terayon Communication Sy 9,263.54 09r2412003 7,420.79 08/08t2003 1,842.75 0.00 708.00 Terayon Communication Sy 4,425.49 09/24/2003 3,533-16 08/11/2003 892.33 0.00 274.00 Verso Technologies Inc 1,139.58 09/2412003 1,013.62 08/20/2003 125.96 0.00 39-00 Verso Technologies Inc 162.20 09r24/2003 141.73 08/2212003 20 .47 0.00 A f2 .()0 215.00 Verso Technologies -w-c 894.20 " W3 - j - -001 jj U.

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

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1,117.00 Verso Technologies Inc 4,645.66 09/24/2003 5,166.39 09/15/2003 (520.73) 0.00 67.00 Ask Jeeves Inc 1,317-16 09/25/2003 437.95 02/18/2003 87921 0.00 296.00 Ask Jeeves Inc 5,81908 09/25/2003 5,830.25 09/02/2003 (11 .17) 0.00 346.00 Diamondcluster Intl . 2,07320 09/25/2003 2,261 .66 09/05/2003 (18846) 0.00 1,520.00 Diamondcluster Ind. 9,107.70 09/25/2003 10,09645 09/09/2003 (988 .75) 000 273 .00 FINDWHAT .COM 5,230.43 09/25/2003 5,29620 07/02/2003 (65.77) 0.00 296.00 FINDWHAT .COM 5,671.09 09/25/2003 5,892.09 08/12/2003 (221 .00) 0.00 179 .00 Homestore .com, 475 .51 09t2Y2003 671 .00 07/3 1 f2003 (195 .49) 0.00 1,265.00 Homestore .com 3,360.47 09/25/2003 3,835.11 09/18/2003 (474 .64) 0.00 1,530.00 Homestore .com 4,064.44 09/25/2003 5,35268 08/28/2003 (1,288 .24) 0.00 1,316.00 Homestore .com 3,49595 09/25/2003 4,773.64 09/08/2003 (1,277 .69) 0.00 1,979.00 Homestore .corn 5,257.21 09125/2003 7,278.34 09/10/2003 (2,021 .13) 0.00 595 .00 1-joribridge Technologies Inc. 4,502.15 09/25/2003 3,027 67 0611612003 1,474.48 0.00 335.00 11onbridge Technologies Inc. 2,53482 09/25/2003 1,769.97 06118/2003 764.85 0.00 287.00 ljoribridge Technologies Inc 2,171 .63 09/25/2003 1,516.57 07/1112003 655.06 000 13.00 Mannatech Inc 84.50 09/25/2003 80.92 06/26/2003 3.58 0.00 151 .00 Mnnnatech Inc 981 .44 09125/2003 925 .63 07/0812003 55.81 0.00 131 .00 Primus Telecommun Grp 975-07 09/25/2003 1,086.44 09/2212003 (111 .37) 0.00 661 .00 Primus Telecommun Grp 4,919-99 09/25/2003 5,488.88 09/23/2003 (568 .89) 0.00 189 .00 Performance Tech Inc 2,154.49 09/2512003 1,73880 07/09/2003 41569 0.00 131 .00 Sohu com Inc. 4,769.45 09/2512003 5,291 .76 09/18/2003 (522 .31) 0.00 242.00 Sohu com Inc. 8,810.73 09/2512003 10,045 .78 09/2212003 (1,235 .05) 000 4,819.00 2417 Real Media Inc. 7,060.58 09/25/2003 5,472.32 06tO4/2003 1,588.26 0.00 289.00 Transaction Sys Archtcts 4,855.98 09/25/2003 4,860.84 09/09/2003 (4.86) 0.00 94200 Tmnsaction Sys Archtcts 15,82815 0912512003 16,618 .01 09116/2003 (789 .86) 000 8.00 Verso Technologies Inc 3126 09/25/2003 29.07 08122/2003 2.19 000 65600 Verso Technologies Inc 2,563.26 09/25/2003 2,368.39 08/26t2003 194 .87 0.00 7600 Ask Jeeves Inc 1,321 .26 09/26/2003 496.78 02/18f2003 824.48 000 780.00 Chorchant Software Inc. 2,351 .36 09/26/2003 2,803.48 08/2612003 (452 .12) 0.00 825 .00 Chordiant Software Inc. 2,487.02 09/26/2003 3,057.22 09/08/2003 (57020) 0.00 156 .00 Chorchant Software Inc. 47027 09126/2003 577.92 09/23/2003 (107 .65) 0.00 130 .00 Candela Corp . 1,80448 09/26/2003 2,110.60 09/2412003 (306.12) 000 397.00 Columbia Laboratories Inc. 5,494.06 09/26/2003 4,956.23 07/08/2003 527.83 0.00 666.00 Columbia Laboratories Inc. 9,199.95 09/26/2003 8,567.16 07/24/2003 632.79 000 32.00 Columbia Laboratories Inc. 442-04 09/2612003 414.23 07131/2003 27 .81 0.00 412.00 FINDNVRAT.COM 7,20109 09/26/2003 7.040 .87 06118/2003 16022 0.00 250.00 FINDWHAT.COM 4,36959 09/2612003 4,850.00 07/0212003 (48041) 000 470.00 Lioribi-idge Technologies Inc. 3,357.47 09/26/2003 2,391 .60 W1612003 965.87 0.00 124 .00 Ijonbndge Technologies Inc. 885.80 09/26/2003 624.96 OW1712003 26084 000 367.00 Mannatech Inc 2,352.24 09/2612003 2,249.71 07/0&'2003 102 .53 000 137 .00 Navigant Consulting Co t,709.63 0912612003 1,194,00 0512(V2003 515.63 000 488.00 Performance Tech Inc 5,479.98 0912612003 4,212.17 07/07/2003 1,26781 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 62 Gains and Loss Reportfrom 1110112002 to .ZO13112003 Account: 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Descriptio Proceeds Date cost Date Gain (- Loss) Prernium Discount) 143 .00 Performance Tech Inc 1,605.81 09/2612003 1,315.60 07/09/2003 29021 0.00 177 .00 Bankrate Inc 2,375.23 09/2612003 2,594.80 09/19/2003 (219 .57) 0.00 699.00 Baakrate Inc 9,380.13 09/26/2003 10,450.05 09/23/2003 (1,069 .92) 0.00 65.00 Select Comfort Corp . 1,644.44 09/2612003 880.10 05/01/2003 76434 0.00 259.00 Select Comfort Corp . 6,55247 09/26r2OO3 3,751.56 05/09/2003 2,800.91 000 10,00 Select Comfort Corp . 252 .99 0912612003 149 .30 05/13/2003 103.69 000 327 .00 Select Comfort Corp . 8,272.81 0912612003 4,839.80 05/14/2003 3,433.01 000 121 .00 Select Comfort Corp . 3,061.19 09/2612003 1,827.10 05/2212003 1,234.09 000 818-00 Terayon Communication Sy 4,711.86 09/26t2003 4,063.75 08/07/2003 648.11 0.00 705-00 Terayou Communication Sy 4,060.96 09/26/2003 3,518.19 08/11/2003 542.77 000 355 .00 Trident Microsystems 4,511.83 09/26/2003 4,651.17 08/19/2003 (139 .34) 0.00 186.00 United Online Inc 6,738.65 09/2612003 5,451.92 07/29/2003 1,286.73 000 449.00 Bentley Pharmaceuticals 6,995.53 09/29/2003 6,693.29 08/08/2003 302.24 0.00 19.00 Bentley Pharmaceuticals 296.02 09/29/2003 298 .19 08/11/2003 (2.17) 000 380.00 Columbia Laboratories Inc. 4,846.06 09/29/2003 4,661.19 07/07/2003 184.87 000 502 .00 Columbia Laboratories Inc. 6,401 .90 09/29/2003 6,267.07 07/08/2003 134.83 000 765 .00 Diamondcluster Ind. 4,88543 09/29/2003 5,000.50 09/05/2003 (115 .07) 0.00 285 .00 Mesa Air Group Inc. 3,095 84 09129/2003 3,416.87 09/02t2003 (321 .03) 0.00 200.0") Mesa Air Group Inc. 2,172.52 09/29/2003 2,444.94 09/04/2003 (272 .42) 0.00 357 .00 Mannatech Inc 2,106.26 09129/2003 2,188.41 07/08/2003 (82 .15) 0.00 107 .00 Navigant Consulting Co 1,299.34 09/29/2003 928.10 05/15/2003 371 .24 0.00 138 .00 Navigant Consulting Co 1,675.79 09/29/2003 1,202.71 05/20/2003 47308 0.00 1,450.00 OpenTV Corporation 4,592.87 09/29/2003 6,125.54 09/08/2003 (1,532 .67) 0.00, 490.00 OpenTV Corporation 1,552.07 09/29/2003 2,011.26 09/16/2003 (459 .19) 0.00 538.00 OpenTV Corporation 1,704.11 09129/2003 2,249.59 09/17/2003 (545 .48) 0.00 186 .00 Oninivision Technologies 7,814.09 09/2912003 9,326.06 09/2312003 (1,511 .97) 0.00 15.00 Primus Telecommun Grp 101 .21 09/29/2003 102 .26 08/12/2003 (1.05) 0.00 1,401 .00 Primus Telecommun Grp 9,453.22 09/29/2003 9,488.27 08/181-2003 (35 05) 000 167-00 Primus Telecommun Grp 1,126.83 09/29/2003 1,385.00 09/2212003 (258.17) 0.00 747.00 Performance Tech Inc 8,754.79 09/29/2003 6,447.73 07/07/2003 2,307.06 0.00 1,044.00 Terayon Communication Sy 5,793.40 09/29/2003 5,186.49 08/07/2003 60691 0.00 356.00 Transaction Sys Archtcts 6,042.67 09/29/2003 4,536.61 08/25/2003 1,506.06 0.00 101.00 Transaction Sys Archtcts 1,714.35 09/29/2003 1,698.77 09/0912003 15 .58 0.00 429.00 Transaction Sys Archtcts 7,281.76 09/29/2003 6,923.80 09/12/2003 357.96 0.00 22.00 Ask leeves Inc 377 .50 09/3012003 143.81 02118/2003 233.69 0.00 108.00 Ask Jeeves Inc 1,853.19 09/30/2003 681 .48 02/26/2003 1,171 .71 000 219.00 Chordiant Software Inc. 644.67 09/30(2003 787.13 08/26/2003 (142.46) 0.00 482.00 Chordiant Software Inc. 1,418.87 09/30/2003 1,691.87 09/17/2003 (273 .00) 0.00 1,039.00 Lionbndge Technologies Inc. 7,58922 0913012003 5,155.26 06105/2003 2,433.96 0.00 147 .00 Lionbndge Technologies Inc. 1,073.74 09/30/2003 740.88 06117/2003 332.86 000 321 .00 Mesa Air Group Inc. 3,532.05 09/30/2003 3,777.37 08/29/2003 (245 .32) 0.00 72.00 Masa Air Gmup Inc 792 2A 0-9/30/2003 86321 09/02.12003 (70.()71 n nn

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193.00 Mannatech Inc 1,046.30 09/30/2003 1,183 09 07/09/2003 (136 .79) 0.00 186.00 Navigant Consulting Co 2,29597 09/30/2003 1,613.33 05/15/2003 682.64 0.00 187.00 Sohu com Inc. 5,90799 09/3=003 7,16055 09/15/2003 (1,25256) 0.00 802 .00 Transaction Sys Archtets 13,158 .91 09/3012003 9,768.36 07/31/2003 3.39055 0.00 84.00 Transaction Sys Archtcts 1,37824 09/30/2003 1,070.44 08/25/2003 307.80 0.00 76.00 Ask Jeeves Inc 1,226.62 10101/2003 474.15 02114/2003 752.47 0.00 3500 Ask Jeeves Inc 564.89 10101/2003 220.85 0212612003 344.04 0.00 15.00 Bentley Pharmaceuticals 23266 10101/2003 216.91 08/0612003 1575 0.00 529.00 Bentley Pharmaceuticals 8,205.30 10/0 1 t2003 7,88586 0810Y2003 319.44 0.00 333 .00 Columbia Laboratories Inc. 3,667.22 lOtOl/2003 4,000.40 07/03/2003 (333 .18) 000 549.00 Columbia Laboratories Inc. 6,045.96 lOtOI12003 6,73420 07/07/2003 (688 .24) 0.00 121 .00 Martek Biosciences Corp 6,186.04 10/01/2003 6,834.08 09123/2003 (648 .04) 000 28.00 Martek Biosciences Corp 1,431.48 1 010 112003 1,510.04 09/30/2003 (78 .56) 0.00 439.00 Mesa Air Group Inc. 4,868.15 10/01/2003 5,165.93 08/2912003 (29778) 0.00 78400 Netopia Inc 5,180.74 10101/2003 5,70705 09/10/2003 (526.31) 0.00 1.00 Netopia Eric 6.61 lOtOl/2003 724 09/12/2003 (063) 0.00 53900 Netopia Inc 3,56176 lOtOl/2003 3,912.71 09/15/2003 (350.95) 0.00 72C.')0 Vixel Corp 5,19138 10/01f2003 6,05153 08/01t2003 (870.15) 000 329.00 Vixel Corp 2,367.60 10/01/2003 2,649.73 08/1912003 (282.13) 0.00 120.00 Vixel Corp 863 .56 lOtOl/2003 990.25 08/21/2003 (126.69) 0.00 561 .00 Vixel Corp 4,037.16 1=112003 4,656.30 08t29/2003 (619.14) 0.00 499.00 Vixel Corp 3,590.98 10/01/2003 4,216.60 09/18t2003 (625 .62) 0.00 333.00 Vixel Corp 2,396.39 1 QtO 1/2003 2,994.67 09/19/2003 (598 .28) 000 950.00 Chordiant Software Inc. 2,802-01 10/02/2003 3,334.60 09/17/2003 (532 .59) 0.00 316.00 Encore Medical Corp 2,000.62 lGtO2/2003 2,369.62 09/12t2003 (36900) 0.00 1,865.00 Encore Medical Corp 11,80743 1=212003 14,211 .30 09/15/2003 (2,403 .87) 000 933.00 Encore Medical Corp 5,906.88 10/02/2003 7,025.49 09/1 &'2003 (1,118.61) 000 515.00 Epic Design Tech 4,333.31 1002/2003 2,549.95 0611312003 1,783.36 000 186 .00 Accredited Home Lenders 4,074-00 10/02/2003 4,067.82 09/23/2003 6.18 0.00 435.00 Concord Camera Corp . 4,443.53 10/02t2003 5,167.67 09/09/2003 (724.14) 000 188.00 Concord Camera Corp . 1,920.42 10f02/2003 2,259.53 09/15/2003 (339.11) 0.00 239.00 Mesa Air Group Inc. 2,711 .59 10/02/2003 2,812.43 08129f2OO3 (100 .84) 0.00 236.00 Bentley Pharmaceuticals 3,604.09 10/03/2003 3,332.20 08/01/2003 271 .89 0.00 942.00 Bentley Pharmaceuticals 12,85867 10103/2003 12,176.08 0810612003 682 .59 0.00 284.00 Candela Corp. 3,673.22 lGt03/2003 4,610.85 09/2412003 (937.63) 0.00 371 .00 Columbia Laboratories Inc. 4,195.06 1=3/2003 4,396.35 07/02/2003 (201 .29) 0.00 158.00 Columbia Laboratories Inc. 1,786.58 1(1(0312003 1,89809 07/03/2003 (111 .51) 0.00 1,508.00 Corio Inc. 4,135.24 1 Qt03/2003 5,224.20 09/17/2003 (1,088.96) 0.00 1,116.00 Corio Inc 3.060.30 IW03/2003 4,133.28 09/18/2003 (1,072.98) 0.00 721 .00 Corio Inc 1,977-13 IW03/2003 2,583.78 09/19/2003 (606.65) 0.00 152.00 Corio Inc. 416.81 10/03/2003 529.08 09f2212003 (112 .27) 0.00 523.00 Corio Inc. 1,43417 10/03/2003 1,787.22 09/23/2003 (35305) 0.00 Driehaus Capital Management Friday January 23, 2004 16.50:14 Page 64 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Quantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

549.00 Entrust Technologies Inc 2,319.40 10/0312003 2,599.73 09/18/2003 (281 .33) 0.00 1,097.00 Entrust Technologies Inc 4,632.57 10103/2003 5,398.65 09/19/2003 (766.08) 0.00 1,460.00 Fuel Tech N V 7,372.64 10/03/2003 9,006.45 09/16/2003 (1,633 .81) 0.00 679.00 LCA Vision Inc 10,24453 1010312003 8,65481 07/25/2003 1,589.72 0.00 37.00 Accredited Home Lenders 78806 1010Y2003 80919 09f23f2003 (21 13) 000 47.00 Accredited Home Lenders 1,001 .05 10(03/2003 1,010.03 09/24/2003 (8.98) 0.00 167 .00 Accredited Home Lenders 3,556.93 l0t0312003 3,620.56 09/30/2003 (63 .63) 0.00 235 .00 Concord Camera Corp. 2,448.58 10/03/2003 2,475.63 08/14/2003 (27 .05) 0.00 467 .00 Concord Camera Corp 4,865-91 10/03/2003 5,545.11 08/27/2003 (679.20) 0.00 55.00 Concord Camera Corp. 573.07 10(03/2003 653 .38 09/09/2003 (80.31) 0.00 490.00 Concord Camera Corp. 5,105.56 IG(03/2003 5,662.39 09/11/2003 (556.83) 0.00 279 .00 Penwest Pharmaceuticals Co 6,135 67 10(03/2003 6,676.27 09/19/2003 (540.60) 000 279.00 Penwest Pharmaceuticals Co 6,135 67 10/03/2003 6,761.37 09/23/2003 (625 .70) 000 792.00 Primus Telecommun Grp 5,717.96 10/03/2003 5,363.82 08/18/2003 354.14 000 133.00 Sonic Solutions 2,276.75 10/03/2003 1,633.84 07/31/2003 642 .91 000 537 .00 Sonic Solutions 9,192.59 10/03f2OO3 6,684.52 08f2lf2003 2,508.06 000 5,460.00 24/7 Real Media Inc. 7,49174 10(03/2003 6,200.22 06/04/2003 1,291.52 0.00 1,029.00 Verso Technologies Inc 3,938.68 10/03/2003 3,555.39 08114/2003 383 .29 000 1,280.00 Verso Technologies Inc 4,899.42 10/03/2003 4,621 .26 08/26/2003 278 .16 0.00 66.00 Fuel Tech N V 319.42 lQ(06f2003 407.14 0911&2003 (87 .72) 000 493.(w) Fuel Tech N V 2,386.01 1010612003 3,030.57 09/2212003 (644.56) 0.00 1,338.00 LCA Vision Inc 19,880-13 10(06r2003 16,61421 07/23/2003 3,265.92 0.00 2000 LICA Vision Inc 297-16 10/0612003 25493 07/25/2003 42.23 0.00 1,205.00 Network Engines Inc 8,115-04 10/06f2003 6,056.35 07f2MO03 2,058.69 0.00 140.00 Network Engines Inc 942.83 10(0612003 698 .64 07/31/2003 244.19 000 444.00 Sonic Solutions 8,396.39 10(06t2003 5,454.32 07/31/2003 2,94207 0.00 87.00 Sonic Solutions 1,645.24 10(0612003 1,057.84 08/11/2003 587 .40 0.00 39.00 United Online Inc 1,340.89 lGtO6/2003 1,140.02 07/23/2003 200.87 0.00 35.00 United Online Inc 1,203.36 10(0612003 1,025.90 07/29/2003 177.46 0.00 666.00 Bentley Pharmaceuticals 9,916.80 10/07/2003 9,403.59 08/01/2003 51321 0.00 507.00 Bentley Pharmaceuticals 7,549.28 lOfO7f2OO3 7,104.44 08/05/2003 444.84 0.00 366.00 Columbia Laboratories Inc. 3,974.09 10/07/2003 4,228.32 06/26/2003 (254 .23) 0.00 692.00 Columbia Laboratories Inc. 7,513.86 10107/2003 8,200.20 07/02/2003 (686.34) 000 495.C-C, Concord Camera Corp. 5,393.51 10(07/2003 5,214.63 08/14/2003 17888 0.00 88.00 Martek Biosciences Corp 4,718-25 10/07/2003 1,927.82 11/22/2002 2,790.43 0.00 162 .00 Martek Biosciences Corp 8,685.87 10(07/2003 3,698.56 11/25/2002 4,987.31 0.00 72.00 Martek Biosciences Corp 3,860.39 10(07/2003 1,760.40 0212112003 2,099.99 0.00 56.00 Martek Biosciences Corp 3,002.52 10(07/2003 3,020.08 09/30/2003 (17.56) 000 1800 Mannatech Inc 10889 10107f2OO3 110.34 07108a003 (1 .45) 0.00 225.00 Mannatech Inc 1,361 .19 10(07/2003 1,260.00 08/07/2003 101 .19 0.00 764.00 Mannatech Inc 4,621.98 10107/2003 4,156.77 08108/2003 465 .21 0.00 5.00 Navigant Consulting Co 62.99 10/07/2003 64.40 10101/2003 (I.Al) 000

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223.00 Navigant Consulting Co 2,809.51 10/07/2003 2,99302 10/02/2003 (183 .51) 0.00 604.00 Bentley Pharmaceuticals 9,115.68 10108/2003 8,43860 08/04/2003 677 .08 000 241 .00 Bentley Pharmaceuticals 3,63721 10/08/2003 3,377.06 08/05/2003 260.15 000 923.00 Encore Medical Corp 6,206.88 10108/2003 6,921.39 09/1212003 (714 .51) 000 942.00 Encore Medical Corp 6,334.65 10/0&'2003 7,055.58 09/23/2003 (720 .93) 0.00 76900 Concord Camera Corp . 8,475.51 10/08/2003 8,101 11 08/14/2003 374.40 0.00 489.00 Martek Biosciences Corp 25,676 .18 10t08/2003 10,712.52 11/22/2002 14,963 .66 000 630.00 Mannatech Inc 3,779.82 10/08/2003 3,427.70 08/08/2003 352.12 0.00 259.00 Navigant Consulting Co 3,252.75 10/08/2003 3,336.02 10/0112003 (83 .27) 000 598.00 Select Comfort Corp . 16,808 .98 10/0&'2003 8,080.06 04130/2003 8,728.92 0.00 199.00 Select Comfort Corp. 5,593.63 10/08/2003 2,69446 05/01/2003 2,899.17 0.00 186.00 Sohu com Inc. 6,687.89 10/08/2003 7,122.26 09/15/2003 (434 .37) 0.00 2,775.00 24/7 Real Media Inc 3,829.92 10/08/2003 3,151.21 06tO4/2003 678 .71 0.00 2,685.00 2V7 Real Media Inc. 3,705.71 10/08/2003 2,943.63 06112/2003 862.08 0.00 84.00 United Online Inc 2,912.18 10/08/2003 2,45543 07/23/2003 456.75 0.00 817.00 Verso Technologies Inc 3,409.19 1 =812003 2,662.77 08108/2003 746.42 0.00 563 .00 Verso Technologies Inc 2,349.30 lGtO&'2003 1,945.27 08/1412003 404.03 0.00 139.00 Accredited Home Lenders 3,025.02 10/0912003 2,987.11 09124/2003 37 .91 000 303 .00 Mannatech Inc 1,799.73 10/09/2003 1,648.56 08/08/2003 151 .17 0.00 119.00 Navigant Consulting Co 1,496.10 1010912003 1,532.77 10/01/2003 (3667) 000 577.00 Petmedexpress .com Inc 4,10804 lQtO9/2003 4,529.45 10/03/2003 (421 .41) 0.00 411 .00 Bankrate Inc 7,256.85 10(0912003 6,02522 09/19/2003 1,231.63 0.00 289.00 Bankrate Inc 5,102.75 10/0912003 4,569.32 10/0612003 533 .43 000 633.00 Bankrate Inc 11,176 .61 10/09/2003 9,950.76 10/0712003 1,225.85 000 507.00 United Online hic 15,780.74 10109/2003 14,82027 07/2312003 96047 000 149.00 deCODE Genetics 679 .21 lOtIO12003 67371 09/23/2003 550 000 941 .00 deCODE Genetics 4,289.48 10110t2003 4,915.69 1010&2003 (626.21) 0.00 117.00 Fuel Tech N V 569 .76 10/10/2003 71369 07/31/2003 (143 .93) 0.00 315.00 Fuel Tech N V 1,533.97 10/10/2003 1,936.37 09/22/2003 (402 .40) 0.00 466.00 I-Flow Corp . 4,61318 10/10/2003 5,278.85 09/17/2003 (665.67) 0.00 679.00 I-Flow Corp. 6,72178 1011=003 7,665.91 09/18t2003 (94413) 0.00 168.00 Inspire Pharmaceuticals Inc 3,183.45 10/10/2003 3,077.49 0911 WOW 105 .96 0.00 37.00 Inspire Pharmaceuticals Inc 701 .12 lOtIO/2003 655 .66 10/0112003 45 .46 000 270.00 Inspire Pharmaceuticals Inc 5,11626 10/10/2003 5,28053 10/03/2003 (164.27) 000 410.00 Inspire Pharmaceuticals Inc 7,769.13 10/10/2003 8,216.40 10/09/2003 (447 .27) 0.00 153 .00 Jos A Bank Clothiers Inc 7,074.38 lOtIO12003 7,226.19 09/04f2003 (151 .81) 0.00 74.00 Jos A Bank Clothiers Inc 3,421 .60 10/10/2003 3,49206 09/1 W003 (70.46) 000 131 .00 Navigant Consulting Co 1,623.97 10110/2003 1,68733 10/01/2003 (63 .36) 0.00 186.00 Omnivision Technologies 8,607.67 10110/2003 9,287.69 09/24/2003 (680.02) 000 465.00 Petmedexpress .com Inc 3,177.74 10/10/2003 3,65025 10103/2003 (472 .51) 0.00 10.00 Bankrate Inc 175 .92 10(10(2003 138 64 09/1V2003 37 .28 0.00 344.OD Bankrate Inc 6,051 .64 10/10/2003 5,043.01 09/19/2003 1,00863 000

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Sale Purchase Realized Unatnortized Bond Onantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

261 .00 Bankrate Inc 4,591.50 10/1012003 3,819.45 10101/2003 772.05 0.00 27.00 United Online Inc 842 .39 10/10/2003 789.25 07/23/2003 53 .14 0.00 353.00 Columbia Laboratories Inc. 3,114.76 10/13/2003 4,07814 06126/2003 (963 .38) 0.00 652.00 Fuel Tech N V 3,082.11 10/13/2003 3,952.36 07/24/2003 (870.25) 0.00 30300 Fuel Tech N V 1,432.33 10/13/2003 1,848.27 07/31/2003 (415 .94) 000 175.00 Navigant Consulting Co 2,222.18 10/13/2003 1,517.92 05/15/2003 704.26 0.00 58.00 Navigant Consulting Cc 736.50 10/13/2003 74706 10(01/2003 (10.56) 0.00 65.00 United Online Inc 2,007.98 10/13/2003 1,900.03 07/23/2003 107.95 0.00 20400 Columbia Laboratories Inc. 1,814.19 10114/2003 2,356.77 06126/2003 (542.58) 0.00 513 .00 Columbia Laboratories Inc. 4,562.14 10/14/2003 5,903.91 06127/2003 (1,341 .77) 0.00 138.00 Fuel Tech N V 672 .72 10114/2003 836.54 07/24/2003 (163 .82) 0.00 511 .00 Fuel Tech N V 2,49100 10/14/2003 3,091.55 09/15/2003 (600 .55) 0.00 800.00 [max Corp 6,45833 10/14/2003 7,000.00 09r24/2003 (541 .67) 000 451 .00 LCA Vision Inc 6,936.05 10/14/2003 5,600.16 07123/2003 1,335.89 0.00 397.00 Navigant Consulting Cc 5,250.43 10/1412003 3,443.50 05/15/2003 1,806.93 0.00 622.00 Petmedexpress.com Inc 4,447.08 1011412003 4,882.70 10(03/2003 (435 .62) 0.00 105 .00 Primus Telecommun Grp 720.72 10/14/2003 711 .11 08/1812003 9.61 0.00 368.00 Primus TeIeconunun Grp 2,52594 10/14/2003 2,478.66 08/19/2003 47.28 0.00 109 .00 SunOpta Inc 1,001.66 10/14/2003 1,201.18 09/23/2003 (199 .52) 0.00 78300 SunOpta Inc 7,195.43 10/14/2003 8,683.47 09r2412003 (1,488 .04) 0.00 254.00 Switchboard Incorporated 2,701.19 10/14/2003 1,928.93 08/1312003 772.26 0.00 239.00 Switchboard Incorporated 2,541.67 10/14/2003 2,879.52 09/05/2003 (337 .85) 0.00 317.00 Switchboard Incorporated 3,371.17 10(14/2003 3,537.72 09123/2003 (166 .55) 0.00 220.00 Transaction Sys Archtcts 4,416.95 10/14/2003 3,916.40 10/06/2003 500.55 0.00 158.00 Transaction Sys Archtcts 3,17217 10/14/2003 2,997.40 10/07/2003 174 .77 0.00 14400 Transaction Sys Archtcts 2,891.09 lQ(14t2003 2,767.18 10(09/2003 123.91 0.00 30.00 United Online Inc 77096 10/14/2003 876.94 07/23/2003 (105 .98) 0.00 499.00 Verso Technologies Inc 2,154.74 10/1412003 1,626.34 08/08/2003 528.40 0.00 1,664.00 . Verso Technologies Inc 7,185.35 10114/2003 7,793.14 10(09/2003 (607 .79) 0.00 353 .00 Ask Jeeves Inc 7,172.66 10/15/2003 2,202.30 02/14/2003 4,970.36 0.00 666.00 FINDWHAT.COM 11,962 .52 10t1512003 11,38161 06118/2003 580.91 0.00 140.00 Gric Communications Inc 1,091.95 10115/2003 1,028.94 10101/2003 63 .01 0.00 558 .00 Gric Communications Inc 4,352.19 l0t1512003 4,48643 10/08/2003 (13424) 0.00 132.00 Jos A Bank Clothiers Inc 6,087.29 lOtl5/2003 5,965.08 09/05/2003 122.21 0.00 65.00 Jos A Bank Clothiers Inc 2,997.53 10/15/2003 2,891.85 09/15/2003 105 .68 0.00 238 .00 Jos A Bank Clothiers Inc 10,975 .56 10/15/2003 11,231 .22 09/18/2003 (255.66) 0.00 149 .00 Accredited Home Lenders 3,624.99 10t15/2003 3,527.84 10/1012003 97 .15 0.00 1,098.00 OpenTV Corporation 5,120.35 10t15/2003 4,662.35 10/08/2003 458 .00 0.00 1,685.00 OpenTV Corporation 7,857.73 10/1512003 7,239.48 10109/2003 618 .25 0.00 332 .00 Primus Telecommun Grp 2,340.68 10115/2003 2,236.19 08/19/2003 104.49 0.00 279 .00 Bankrate. Inc 5,199.11 10115/2003 3,867.97 09/18/2003 1,331.14 0.00 59A.000 Sun Onta Lnc 5,575.AQ 10/15/200-3 6,266.70 09122/2003 (69121) 000

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590-00 SunOpta Inc 5,537.95 10115/2003 6,501 80 09/23/2003 (96385) 000 24200 Switchboard Incorporated 2,557.81 10115/2003 1,837.80 09/1312003 72001 000 8000 Trident Microsystems 1,53906 lOtl5/2003 1,122.27 IQt02/2003 41679 0.00 411 .00 Trident Microsystems 7,90693 10/15/2003 6,018.19 1 QfO3/2003 1,888.74 000 276 .00 Transaction Sys Archtcts 5,51251 10/15/2003 3,361.68 07/31/2003 2,150.83 000 311 .00 Transaction Sys Archtcts 6,211.56 10115/2003 5,536.36 10t0612003 67520 0.00 202 .00 Verso Technologies Inc 849.87 1 Ot 15/2003 645.60 08/01/2003 204.27 0.00 54900 Verso Technologies Inc 2,309.80 lOtl5/2003 1,789.30 08/08/2003 52050 0.00 92.00 Netopia Inc 791 .16 10/16t2003 727.74 1 Qt03/2003 63.42 0.00 577 .00 Netopia Inc 4,961 .96 10/16t2003 4,86411 1010712003 97 85 0.00 181.00 Switchboard Incorporated 1,53881 10t1612003 1,374.55 08/13/2003 164 .26 000 285 .00 Switchboard Incorporated 2,422.98 10/16/2003 2,155.00 08/14/2003 267.98 000 828 .00 Trans meta Corp/Delaware 3,425.22 10116t2003 3,27261 lGtO8/2003 152 .61 000 749.00 Encore Medical Corp 5,073.78 1 Gt 17/2003 5,573.08 09/10/2003 (499.30) 0.00 623 .00 Encore Medical Corp 4,220.25 1 Ot 17/2003 4,56098 09/11/2003 (340.73) 0.00 932.00 Encore Medical Corp 6,313.44 10t1712003 6,915.44 09/19/2003 (602 .00) 0.00 196.00 Encore Medical Corp 1,25998 10/17/2003 1,393.14 09/23f2003 (133 16) 0.00 120.00 Inspire Pharmaceuticals Inc 2,323.09 10/17/2003 2,089.97 09/09/2003 233 12 000 215 .00 Inspire Pharmaceuticals Inc 4,162.20 10/17/2003 3,809.93 lOtOl/2003 352 .27 0.00 224.00 Inspire Pharmaceuticals Inc 4,336-44 10/17/2003 4,555.78 10/13/2003 (219.34) 0.00 407 .00 Jos A Bank Clothiers Inc 17,561 .22 10117/2003 17,964.98 08/07/2003 (403 .76) 0.00 102.00 Jos A Bank Clothiers Inc 4,401.09 10/17/2003 4,452.30 08/0812003 (51.21) 0.00 190.00 Jos A Bank Clothiers Inc 8,198-11 10117/2003 8,453.10 09/15/2003 (254.99) 0.00 208.00 Jos A Bank Clothiers Inc 8,974.78 10/17f2OO3 9,16864 09/16f2003 (193 .86) 0.00 289.00 Netopia Inc 2,45661 10/17/2003 2,28605 lQtO3/2003 17056 000 112 .00 Schnitzer Steel Inds A 4,410.87 1 Ot 17/2003 3,205.44 09/08/2003 1,205.43 0.00 93.00 Schnitzer Steel Inds A 3,662.60 1 Ot 17/2003 3,34986 1 W0312003 312.74 000 427.00 Scientific Games Corp-A 4,905-99 10/17/2003 5,44651 09/2412003 (540 .52) 0.00 214.00 Sonic Solutions 3,719.14 lGtl7/2003 2,60205 09/11/2003 1,11709 0.00 388.00 Simpletech Inc 3,72462 lGtl7/2003 2,36680 09/15/2003 1,35782 000 757.00 Simpletech Inc 7,266.86 10/17/2003 7,53972 10/1412003 (272 .86) 0.00 76.00 SunOpta Inc 702.97 10/17/2003 755 .80 09/1612003 (52 .83) 000 12600 SunOpta Inc 1,165-44 10/17/2003 1,274.43 09/17/2003 (108 .99) 0.00 394.00 SunOpta Inc 3,644.32 IG(17/2003 4,156.70 09122/2003 (512 .38) 0.00 370.00 Switchboard Incorporated 2,785.89 10/17/2003 2,797.72 08/14/2003 (11 83) 0.00 585.00 Switchboard Incorporated 4,404.72 10/17/2003 4,337.78 09/18/2003 66.94 000 3800 Transaction Sys Archtcts 687 .76 10t1712003 46294 07/31/2003 22492 0.00 6,602.00 Transwitch Cxxp 16,598-91 10117f2003 19,404.02 IWI92003 (2,80511) 0.00 1,130.00 Corio Inc 2,989.49 10/20/2003 3,687.91 09/1612003 (698 .42) 0.00 2,100.00 Corio Inc. 5,555.69 10/2012003 7,17620 09/23/2003 (1,620 .51) 0.00 1,665.00 Ufecell Corporation 10,065 .78 10/2(V2003 12,319.50 09/19/2003 (2,253 .72) 0.00 1,008-00 OpenTV Corporation 4,762.89 10120/2003 4,280.19 10/08/2003 482.70 0.00 Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 68 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION - EMERGING GROWTH

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceed Date cost Date Gain (- Loss) Premium Discount)

120.00 Schnitzer Steel Inds A 4,559.79 10/2012003 3,238.00 09/0212003 1,321 .79 0.00 48 .00 Schnitzer Steel Inds A 1,823.91 10/20/2003 1,373.76 09/08/2003 450.15 0.00 483.00 Scientific Games Corp-A 5,525-25 10/20/2003 6,160.81 09/2412003 (635 .56) 0.00 511 .00 Simpletech Inc 4,55448 10/20/2003 3,117.10 09/15/2003 1,437.38 000 159.00 Transaction Sys Archtcts 2,893.98 10/20/2003 1,936.62 07/31/2003 957.36 0.00 2,14900 Verso Technologies Inc 7,842.36 10/20/2003 6,868.32 08/01/2003 974.04 0.00 937 no Corio Inc. 2,465.39 10/21/2003 3,05802 09/16/2003 (59263) 0.00 452.00 J2 GLOBAL COMMUNICATIONS INC 15,658.40 10/21/2003 11,18485 07/16/2003 4,47355 000 602.00 J2 GLOBAL COMMUNICATIONS INC 20,854.77 10/21/2003 14,116 .90 07/18/2003 6,737.87 000 322.00 J2 GLOBAL COMMUNICATIONS INC 11,15488 10121/2003 8,128.49 07/2212003 3,026.39 000 2.00 J2 GLOBAL COMMUNICATIONS INC 69.28 10/21/2003 53 .70 09/14/2003 15 .58 000 137.00 J2 GLOBAL COMMUNICATIONS INC 4,746.02 10/21/2003 5,135.46 09/08t2003 (389 .44) 000 294 00' J2 GLOBAL COMMUNICATIONS INC 10,19489 10/21/2003 11 .23668 09/0912003 (1,051 .79) 0.00 126.00 J2 GLOBAL COMMUNICATIONS INC 4,364.95 10121/2003 5,303.79 09/1212003 (93884) 0.00 565.00 OpenTV Corporation 2,658.14 I012If2003 2,399.11 10/08/2003 25903 0.00 224.00 Schnitzer Steel Inds A 8,128.57 10/2112003 6,0".26 09/02/2003 2,084.31 0.00 724.00 Ask Jeeves Inc 14,038 .34 10/22/2003 4,516.89 02/1412003 9,521.45 0.00 943.00 Chordiant Software Inc. 3,29228 10/22/2003 3,092.67 10107/2003 199.61 0.00 2,098.00 Chordiant Software Inc. 8,193.60 10/22/2003 8,678.21 1 Ot 14/2003 (494.61) 000 1,228.00 Corio Inc. 3,248-09 1012212003 4,007.74 09/16f2003 (759 .66) 0.00 1,396.00 Onc Communications Inc 9,630.27 10/22/2003 9,444.36 09/1712003 185.91 000 116.00 Gric Communications Inc 800.22 10/22J2003 836.59 09/18/2003 (36.37) 0.00 614.00 Gric Communications Inc 4,235.66 10122/2003 4,512.65 10/01/2003 (27699) 0.00 548.00 KCS Energy Inc. 4,110.73 10/22/2003 4,403.29 10(13/2003 (292.56) 0.00 549.00 KCS Energy Inc. 4,119.23 10/22f2OO3 4,435.92 10/14/2003 (317 .69) 0.00 1,003.00 Concord Camera Corp . 11,453 .71 lOt22/2003 12,204.60 lQtl5/2003 (750.89) 000 226.00 Netopia Inc 1,87424 lOt2212003 1,600.62 09/11/2003 273.62 0.00 718.00 Netopia Inc 5,95445 10/22/2003 5,199.47 09/12/2003 754.98 0.00 149.00 Netopia Inc 1,235.67 10/22/2003 1,178.62 10/03/2003 57 .05 0.00 1,125.00 OpenTV Corporation 5,290.23 10/22/2003 4,617.69 09/16/2003 672.54 000 1,574.00 OpenTV Corporation 7,401 .63 10/2212003 6,239.79 09/24/2003 1,161.94 000 140.00 OpenTV Corporation 658.34 10/22/2003 59447 10/08/2003 63 .87 0.00 21000 Sonic Solutions 3,655.92 10/22/2003 2,553.41 08/11/2003 1,102.51 0.00 172.00 Sonic Solutions 2,994.38 10/22/2003 2,081 .51 08/1 W2003 912.87 0.00 149.00 Support com Inc 1,629.04 10/22/2003 1,713.50 09/29/2003 (84.46) 0.00 493.00 Support com Inc 5,390.06 lOt22/2003 5,765.49 10/03/2003 (375.43) 000 931.00 Support com Inc 10,178 .79 10/2212003 12,60267 10/06/2003 (2,423 .88) 0.00 295.00 SunOpta Inc 2,687.91 10/22/2003 2,806.93 09/09/2003 (119.02) 0.00 292.00 SunOpta Inc 2,66057 10/22/2003 2,903.85 09/1612003 (243 .28) 0.00 48400 Supergen Inc 4,375.15 10/22/2003 4,666.53 1011412003 (291 .38) 0.00 2,158-00 Verso Technologies Inc 8,436.27 10122/2003 6,897.09 08/01/2003 1,539.18 0.00 8 A 9'.2 .00 Alvanon 6,43 .I .1 1.06123/2003 7, 2 55 0. _40 1011012003 (S .1 .99,I 0.00

0 0 0 0 0 0 0 0 0 0 0 0 0 0

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- lAm Premium Discount)

762 .00 Alvanon Limited 5,379.46 10/2312003 5,95084 10/14/2003 (571 .38) 0.00 582 .00 Epic Design Tech 6,283.96 10/23/2003 2,881 .69 06113/2003 3,402.27 0.00 311 .00 Concord Camera Corp. 3,455.04 10/2312003 3,784.28 10t15/2003 (329 .24) 0.00 721 .00 Concord Camera Corp. 8,009.93 10/23/2003 8,70391 10/16/2003 (693 .98) 0.00 195.00 Lifecell Corporation 1,208.94 lOt2312003 1,44282 09/19/2003 (23388) 0.00 3 5 4. f-v) Lifecell Corporation 2,194.69 10/23/2003 2,53641 09/23t2OO3 (34172) 000 195 .00 Netopia Inc 1,588.72 10/23/2003 1,365.20 08/2912003 223 .52 000 1,256.00 Netopia Inc 10,233 .02 10/23/2003 8,895.49 09/11/2003 1,337.53 0.00 301 .00 Palatin Technologies Inc 1,463-04 IWY2003 1,678.26 10/03t2003 (215 .22) 000 742.00 Palatin Technologies Inc 3,606.56 10123/2003 4,303.01 1011612003 (696.45) 0.00 1,033.00 Palatin Technologies Inc 5,02099 10/23/2003 6,009.99 10117/2003 (989.00) 000 483.00 Scientific Games Corp-A 5,617.02 10/23/2003 6,16081 09/2412003 (543 .79) 0.00 158 .00 Scientific Games Corp-A 1,837.45 10/2312003 1,995.70 10103/2003 (158 .25) 0.00 492.00 Support com Inc 5,337.95 10/23/2003 5,58194 09/19/2003 (24399) 0.00 272.00 Supportcom Inc 2,951 .06 10/2312003 3,125.01 09/2412003 (17395) 0.00 279.00 Support corn Inc 3,027-01 10/23/2003 3,20850 09/29/2003 (181 .49) 000 728.00 Simpletech Inc 5,969.31 10/23/2003 4,440.80 09/15/2003 1,528.51 0.00 389.00 SunOpta Inc 3,524.17 10/23/2003 3,42149 09/02/2003 102 .68 0.00 610.C-.' SunOpta Inc 5,526.34 10123/2003 5,69825 09/03/2003 (171 .91) 000 205 .00 SunOpta Inc 1,857.21 10123/2003 1,95057 09/09/2003 (9336) 0.00 149 .00 Supergen Inc 1,301 .51 10/23/2003 1,350.00 l(ktl3/2003 (4849) 0.00 497.00 Supergen Inc 4,341 .29 10/23/2003 4,791 .88 10/1V2003 (450 .59) 0.00 43.00 Terayon Communication Sy 301 .21 lOf2312003 321 .60 1010712003 (2039) 0.00 512.00 Terayon Communication Sy 3,586.54 10/23/2003 4,099.23 10/0912003 (512 .69) 0.00 5,026.00 2417 Real Media Inc. 7,694.63 10/23/2003 5,322.94 06/1212003 2,371.69 000 434.00 2417 Real Media Inc. 66444 1012312003 456.19 07/03/2003 208.25 000 688.00 Network Engines Inc 5,564.69 10/24/2003 3,43333 07/31/2003 2,131.36 0.00 438.00 Network Engines Inc 3,542-64 10/2412003 3,48460 10108/2003 5804 0.00 456.00 Oplink Communications Inc 1,042.02 10/24/2003 1,286.77 10/01/2003 (244 .75) 0.00 2,306.00 Oplink Communications Inc 5,269.49 lGr2412003 6,857.98 10/14/2003 (1,588 .49) 000 1,128.00 OpenTV Corporation 4,62587 1 Gr2412003 4,409.55 09/15/2003 216.32 0.00 576.00 OpenTV Corporation 2,36215 I=V2003 2,28343 09/2412003 7872 0.00 43.00 Supergen Inc 382-84 1 Or24/2003 387 .10 10/08/2003 (4.26) 000 124.00 Supergen Inc 1,104.00 10/24/2003 1,123.49 10/13/2003 (19 .49) 0.00 98300 Cono Inc. 2,739.26 1012712003 3,02630 09/1212003 (287 04) 0.00 2,30500 Corio Inc 6,42318 10/27/2003 7,381 .25 09/15/2003 (958 .07) 0.00 163.00 Cono Inc 45422 1012712003 531 .97 09/1612003 (7775) 0.00 121.00 Corio Inc. 337 18 10/27/2003 382 .10 10/1012003 (44 .92) 0.00 492.00 Encore Medical Corp 2,804.26 10127/2003 3,601.93 09/11/2003 (797 .67) 0.00 103.00 Flamel Technologies-sp Adr 2,70877 10127/2003 3,883.10 1010612003 (1,174 .33) 000 186.00 Flamel Technologies-sp Adr 4,891 .57 1012712003 7,16489 1 GtG7/2003 (2,273 .32) 0.00 311 .00 Inspire Pharmaceuticals Inc 5,846.52 10/27/2003 5,416.50 09/09/2003 43002 0.00 Driehaus Capital Management Friday January 23, 2004 16.50:14 Page 70 Gains and Loss Repoiffrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION - EMERGING GROWTH

Sale Purcbase Realized Unamortized Bond Ouantity Security Descrintion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

252.00 Inspire Pharmaceuticals Inc 4,737.38 10/27/2003 4,330.62 09/30/2003 406.76 0.00 16.00 LCA Vision Inc 257.91 10127/2003 198 .68 07/23/2003 59.23 0.00 621 .00 LCA Vision Inc 10,01005 10/27/2003 7,68177 07/24/2003 2,32828 0.00 205 .00 LCA Vision Inc 3,304.44 10/27/2003 3,789.59 10122/2003 (485 15) 0.00 11100 Lifecell Corporation 658 .20 1 Ot27/2003 795.32 09/23/2003 (137 .12) 0.00 577 .00 Lifecell Corporation 3,42144 10127/2003 4,108.24 1 Of09/2003 (68680) 000 428.00 I,ifeceH Corporation 2,537.92 10/27/2003 2,938.65 10/15/2003 (400 .73) 0.00 160.00 Netopia Inc 1,219.14 10/27/2003 953.82 08/15/2003 265 .32 0.00 426.01) Netopia Inc 3,245.96 10/2712003 2,982.43 08/2912003 263 .53 0.00 382-00 Sonic Solutions 6,111 .71 10/2712003 4,62289 08/18f2003 1,48882 0.00 580-00 Simpletech Inc 4,13903 10/27/2003 2,772.40 08105/2003 1,366.63 0.00 508.00 Simpletech Inc 3,625.22 10/27/2003 2,253.12 08/11/2003 1,37210 0.00 9.00 Simpletech Inc 6423 10/27/2003 54.90 09/15/2003 9.33 000 1,242.00 Encore Medical Corp 7,429-54 10/28/2003 9,082.75 09/09/2003 (1,653.21) 0.00 1,005-00 Encore Medical Corp 6,011 .82 10/2&'2003 7,35761 09/1112003 (1,345.79) 0.00 1,493.00 Epic Design Tech 15,168 .16 10/28/2003 7,392.37 06tl3/2003 7,775.79 0.00 863.00 Epic Design Tech 8,767.66 10/28/2003 4,254.59 06116t2OO3 4,513.07 0.00 2,058.00 Kfx Inc 11,761 .42 10/28/2003 12,902.84 10/20/2003 (1,141 .42) 000 282.00 LCA Vision Inc 4,61465 10/28/2003 3,488.34 07/24/2003 1,126.31 000 532-00 Lionbndge Technologies Inc. 4,523.59 10/28/2003 2,63965 06t0512003 1,883.94 0.00 1,590.00 Ophnk- Communications Inc 3,782.65 10/28/2003 4,486.77 lOtOl/2003 (704.12) 0.00 1,618.00 Ophnk Communications Inc 3,849.27 10128/2003 4,384.02 IW03/2003 (534.75) 0.00 2,325.00 Oplink Communications Inc 5,531.24 10/28/2003 6,407.49 lQt06t2003 (876.25) 0.00 1,531-00 Bakbone Software Inc 3,586.71 IG(29/2003 4,017.89 10/27/2003 (431 .18) 0.00 2,505.00 Bakbone Software Inc 5,868.52 lOt2912003 6,530.78 10/28/2003 (662 .26) 000 2,981.00 Corio Inc. 7,742.81 10/29/2003 8,665.31 09/0212003 (922 .50) 0.00 294.00 Corio Inc. 76363 lGt29/2003 877 .77 09/11/2003 (11414) 0.00 150.00 Corio Inc 389 .61 10/29/2003 461.79 09/1212003 (72 .18) 0.00 122-00 Flamel Technologies-spi Adr 3,368.31 10/29/2003 4,280.98 09/09/2003 (912 .67) 0.00 186 .00 Flamel Technologies-sp Adr 5,135.29 10/29/2003 6,542.20 1 Qt0312003 (1,406 .91) 0.00 65-00 Flamel Technologies-sp Adr 1,794.59 lGt29/2003 2,450.50 10/0612003 (655 .91) 0.00 19.00 I-Flow Corp. 242.83 10/29/2003 214.51 09/18/2003 28 .32 000 307.00 I-Flow Corp. 3,923.64 10/29/2003 3,422.04 10103/2003 501 .60 0.00 512.00 I-Flow Corp. 6,543.66 lOt29/2003 6,00950 lQtl6t2003 53416 000 630-00 Palatin Technologies Inc 2,631 .37 10/29/2003 3,512.63 10/0312003 (881 .26) 000 931 .00 Palatin Technologies Inc 3,888.59 10/29/2003 5,120.50 10/07/2003 (1,231 .91) 0.00 1,427.00 Palatin Technologies Inc 5,960.27 10129/2003 7,744.04 1 OtO&'2003 (1,783 .77) 0.00 435.00 Palatin Technologies Inc 1,816.90 lGt29/2003 2,373.94 1 GtO9/2003 (556.94) 000 745-00 Palatin Technologies Inc 3,111.70 1 Qt29/2003 4,019.50 10/14/2003 (907 .80) 000 1,105.00 Simpletech Inc 8,253.95 10/29/2003 4,900.97 08/11/2003 3,35298 0.00 393.00 Terayon Communication Sy 2,643.51 10/29/2003 1,952.39 08/07/2003 691 .12 0.00 590.00 Terayou Comn-wriffication Sy 3,96862 0-2199rz.003 2,9116.887 08/ ', 1-4= 11,W 1.11 5 1.100

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Sale Purchase Realized Unamortized Bond Ouantity Security Descrit)tion Proceeds Date cost Da(e Gain (- Loss) Premium Discount)

596.00 Terayon Communication Sy 4,008.98 10129/2003 4.457 .54 1010712003 (448 .56) 0.00 1 .519.00 Brigham Exploration Co 10.069.57 10130/2003 10,856.90 10/07/2003 (787 .33) 0.00 337.00 Brigham Exploration Co 2,23400 1013012003 2,56861 1010812003 (33461) 000 241 00 Brigham Exploration Co 1,597.61 1013012003 1,703.87 10/14/2003 (106 .26) 000 884.00 dcCODE Genetics 6,565.24 1000/2003 4,55101 10/1412003 2,014.23 000 76400 deCODE Genetics 5,67403 10/30/2003 3,949.88 10/15/2003 1,724.15 0.00 95600 Grupo Financiero Galicia-B ADR 5,648.45 10130f2003 6,156.64 10/29/2003 (508 .19) 000 949.00 Oplink Communications Inc 2,349.70 10/30/2003 2,384.58 09/19/2003 (3488) 0.00 372.00 Oplink Communications Inc 92106 10/30/2003 1,01482 09/29/2003 (93 .76) 000 1,451.00 Oplink Communications Inc 3,59265 IG50/2003 3,931.53 10/03/2003 (338 .88) 0.00 400.00 Schnitzer Steel Inds A 15,685 .26 10/30/2003 10,211 .12 08/27/2003 5.474 14 0.00 56.00 Schnitzer Steel Inds A 2.19594 10/30/2003 1,511 .06 09/02/2003 68488 000 21900 Scientific Games Corp-A 2,752.72 10/30/2003 2,617.05 10101/2003 13567 0.00 21400 Scientific Games Corp-A 2,689.87 10/30/2003 2,680.76 1 GtO2/2003 9.11 0.00 31600 Scientific Games Corp-A 3,97196 1013012003 3,991 .40 10103/2003 (19 .44) 000 16600 Captaris Inc 1,013.66 10/31/2003 1,012.52 10/03/2003 1.14 000 503 .00 Captans Inc 3,071 .52 10131/2003 3,520.55 10/17/2003 (44903) 000 2800 Flame] Tcchnologics-sp Adr 723.50 1013 1 f2003 982 .52 09/09/2003 (25902) 0.00 130.00 Flamel Technologies-sp Adr 3,359.13 10/31/2003 4,49206 OMW2003 (1,132 .93) 000 131 .00 Lionbridge Technologies Inc. 1 .165 84 10/3112003 649.99 06/05/2003 515 .85 000 420 JU Lionbndge Technologies Inc. 3,73782 10(31/2003 2,052.67 06/06(2003 1,685.15 000 3800 Sonic Solutions 66251 10/3112003 43605 08108/2003 226.46 000 18000 Sonic Solutions 3,138.22 10/31/2003 2,141.78 08/15/2003 996.44 000 4200 Sonic Solutions 732 .25 10/31/2003 508 .28 08/1812003 22397 0.00 205 .00 Sonic Solutions 3,574.09 10/31f2003 2,462.44 08/1912003 1,11165 0.00

GAINS ONLY Total 2,010,994 .83

LOSSES ONLY Total (1,076,516.98)

STOCK - Short Term 17,878,733.18 16,944,255 .39 934477 .85 Security Litigation + 90 .37 935,381 .22 29100 Tractor Supply Co 12,250.73 01/1412003 4,871 .82 12/18/2001 7,378.91 0.00 351 .00 Tractor Supply Co 11,680 .92 02107/2003 5.876 .32 12/1 V2001 5,80460 0.00 215 .00 Ultm Petroleum Corp ADR 1,89420 03/07/2003 1,603.29 03/0612002 290.91 0.00 2,546.00 Imax Corp 18,32761 06/05/2003 19,986 .10 05/30/2002 (1.658 .49) 0.00 85500 Imax Corp 6,154.79 06/05/2003 6,455.25 06t03/2002 (30046) 0.00

GAINS ONLY Total 13,474 .42

LOSSES ONLY Total (1,958 .95) Driehaus Capital Management Friday January 23, 2004 16:50:14 Page 72 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056404 -- RHD FOUNDATION- EMERGING GROWTH

Sale Purchase Realized Unamorlized Bond Ouanfity Security Descrintion Proceeds Date cost Date Gain (- Loss Premium (- Discount

STOCK - Long Term 50,308 .25 38,792 .78 11,515 .47

Grand Total 946,896 .69

0 0 0 0 0 9 0 0 January 23, 2004 16:56:36 Dyiehaus Capital Management Friday Page I Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHA US FOUNDA TION-MICROCAP

Sale Purchase Realized Unarnortized Bond Ouantity Security Descriotion Proceeds Date Cost Date Gain (- Loss) Prendurn Discount) 744.00 Lendingtree Inc. 8,65997 11/01/2002 6,79695 01/2512002 1,863.02 000 64800 Lendingtree Inc 7,542.55 11/01/2002 8,76744 08/20/2002 (1,224.89) 0.00 839.00 Healthtronics Surgical Svcs 5,72172 11/05/2002 11,119 .43 04/19/2002 (5,397.71) 000 615.00 J2 GLOBAL COMMUNICATIONS INC 15,801.64 11/05/2002 6,404.98 04fM002 9,396.66 0.00 8300 Prime Medical Svcs. Inc 570.03 11105/2002 66735 03/21/2002 (9732) 000 30.00 Practiceworks Inc 153.70 11/05/2002 430.63 04116/2002 (276.93) 000 43900 Erescarch Technology Inc 6,167 89 11106r2002 5,138.00 04125/2002 1,029.89 000 211.00 Eresearch Technology Inc. 2,964.52 11/06/2002 2,559.66 04129/2002 404.86 000 1,28300 Eresearch Technology Inc. 18,02598 11/0612002 18,83906 07/1612002 (813.08) 000 26000 Heafthtronics Surgical Svcs 1,81695 11/0612002 3,44583 04119/2002 (1,62888) 000 35200 J2 GLOBAL COMMUNICATIONS INC 9,345.42 11/0612002 3,665.94 04/2412002 5,679.48 0.00 275.00 Pracaceworks Inc 1,427.93 11/06/2002 3,334.05 03/05/2002 (1,906.12) 000 1,297.00 Pracuceworks Inc 6,734.64 11/06r2002 16,98071 03/27/2002 (10,246.07) 0.00 815.00 Practiceworks Inc 4,23187 11/06/2002 11,69867 04/1612002 (7,466.80) 000 648.00 Computer Programs & Systems 12,31162 11/07/2002 16,029.90 08/30/2002 (3,718.28) 0.00 14.00 Dan R i ver Inc - Cl. A 32.75 11/07/2002 66.23 05/1412002 (33.48) 000 76.00 Prime Medical Svcs. Inc. 496.55 11/07/2002 61107 03121/2002 (114.52) 0.00 268.00 Prime Medical Svcs. Inc. 1,751 .00 11/0712002 2,132.88 03/22/2002 (381.88) 000 968.00 Lendingtree Inc. 10,887 .92 11/07/2002 8,84334 01/25/2002 2,044.58 000 969.00 White Electronic Design 8,03664 1 1/07/2002 8,859.37 10115/2002 (822.73) 000 111 .00 Dan River Inc. - Cl. A 254.71 11/08/2002 525 12 05/14/2002 (270.41) 000 1,038.00 Eresearch Technology Inc 13,172 .86 11/0812002 12,14861 04125/2002 1,024.25 0.00 535.00 Prime Medical Svcs. Inc. 3,458.72 11/08/2002 4,257.80 03/22/2002 (79908) 0.00 38700 White Electronic Design 3,22860 11/08/2002 3,538.26 10/15/2002 (30966) 0.00 318.00 Dan River Inc. - Cl. A 701.91 11/11/2002 1,47724 05/10/2002 (775.33) 0.00 370.00 Dan R i ver Inc - Cl. A 816.69 11/11/2002 1,75042 05/IV2002 (933.73) 0.00 616.00 Fuel Tech N V 1,902.76 11/11/2002 3,83904 04/16(2002 (1,936.28) 0.00 35.00 Prime Medical Svcs. Inc. 210.05 11/11/2002 278.55 03/2212002 (68.50) 0.00 19900 Prime Medical Svcs. Inc. 1,194.30 11/11/2002 1,55801 03/25/2002 (363.71) 000 339.00 Prime Medical Svcs Inc. 2,034.51 11/11/2002 2,65257 03/2612002 (618.06) 000 184.00 Dan River Inc. - CI A 381.17 11/12/2002 854.75 05/10/2002 (473.58) 000 913.00 Lendingtree Inc. 9,564.38 11/1212002 8,340.88 01/25/2002 1,223.50 000 1,045.00 Covalent Group Inc. 2,19559 11/13/2002 5,407.73 04/11/2002 (3,212.14) 000 1,033.00 12 GLOBAL COMMUNICATIONS INC 21,348 .77 11/13/2002 10,758 .28 04124/2002 10,590.49 0.00 21700 White Electronic Design 1,985.49 11/13/2002 1,85900 08/30/2002 126.49 000 364.00 White Electronic Design 3,33049 11/13/2002 3,32798 10/15/2002 251 000 217.00 Covalent Group Inc. 457.03 11/14/2002 1,122.94 04/11/2002 (665.91) 000 2,020-00 Covalent Group Inc. 4,25437 11/1412002 10,09553 OQ 1 &2002 (5,841 .16) 0.00 461 .00 Dan River Inc. - Cl. A 951.11 11/14/2002 2,141 .53 05110/2002 (1,190.42) 000 111 .00 Dan River Inc. - C1. A 22064 11/15/2002 515.64 05/10/2002 (29500) 000 1,019.00 Covalent Group Inc. 2,073.46 11/18/2002 5,092.74 04/16/2002 (3,019.28) 0.00 2,036.00 Dan River Inc. - Cl. A 3,955.46 11/18/2002 9,45802 05/10/2002 (5,50256) 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 2 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056501 -- RICHARD H. DRIEHAUS FOUNDA TION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouanti Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

343 .00 1 C T Group Inc 5,908.78 11/18/2002 7,02070 03/08/2002 (1,111 .92) 0.00 563 .00 Osteotech Inc. 2,705.86 11/18/2002 5,757.80 08/12/2002 (3,051 .94) 0.00 1,03400 Prime Medical Svcs. Inc. 7,444.57 11/18/2002 8,090.74 03/26/2002 (646 .17) 0.00 461 .00 Dan River Inc. - Cl. A 862 .82 11/1912002 2,141 .53 05/1012002 (1,278 .71) 0.00 494.00 1 C T Group Inc 8,195 21 11/19/2002 10,111 44 03/08/2002 (1,916 .23) 0.00 471 .00 Osteotech Inc. 2,227.76 11/19/2002 4,81692 08/1212002 (2,589 .16) 0.00 457.00 NOBLE INTERNATIONAL LTD 3,167.55 11/20/2002 6,207.75 03/04/2002 (3,04020) 0.00 85 00 Osteotech Inc 388 .08 11/20/2002 869.30 08/12/2002 (481 .22) 0.00 1,655.00 Osteotech Inc. 7,556.16 11/20/2002 16,002.53 09/2712002 (8,446.37) 0.00 38600 Dan R i ver Inc. - Cl. A 69585 11/21/2002 1,793.12 05/1012002 (1,097.27) 0.00 75.00 Dan River Inc. - Cl. A 135 .20 11/21/2002 346.15 05/13/2002 (210.95) 0.00 163.00 Labone Inc 2,602.15 11121/2002 3,227.40 04/16/2002 (625.25) 0.00 945 .00 NOBLE INTERNATIONAL LTD 6,57387 11/21/2002 12,836.60 03/04/2002 (6,262.73) 0.00 470-00 Compcx Tech Inc 1,789.25 11/22/2002 3,05947 05/07/2002 (1,27022) 0.00 1,10500 Compex Tech Inc 4,206.63 11/22/2002 7,088 14 05108/2002 (2,881 .51) 0.00 1,160.00 Dan River Inc. - Cl. A 1,863.34 11/22/2002 5,353.75 05/13/2002 (3,490.41) 0.00 86300 NOBLE INTERNATIONAL LTD 5,934.57 11/22/2002 11,722.73 03/04/2002 (5,788 .16) 0.00 69600 Galyan's Trading Company 9,152.12 11/2612002 9,776.85 11/18/2002 (624.73) 0.00 170.00 Safenet Inc. 4,502.69 11/26/2002 3,175.36 07/25/2002 1,327.33 000 87400 Safenet Inc. 23,149.11 11/26/2002 21,93495 11/21/2002 1,214.16 0.00 537-00 Bay State Bancorp Inc. 13,576.50 11/27/2002 11,781 .35 10/29/2002 1,795.15 000 1,993.00 Carreker Corporation 11,952.81 11/27/2002 22,25523 W1012002 (10,30242) 000 586-00 Carreker Corporation 3,514.47 11/2712002 6,573.75 06/11/2002 (3,059 .28) 0.00 735 .00 Eresearch Technology Inc. 9,958.94 11/27/2002 8,602.34 04/25/2002 1,35660 0.00 1,268.00 Exact Sciences Corp 16,470.82 11/2712002 20,338 .72 11/14/2002 (3,867 .90) 0.00 49.00, . Galyan's Trading Company 652 .66 11/27/2002 653.08 11/1412002 (0.42) 0.00 174 .00 Galyan's Trading Company 2,317.61 11/27/2002 2,322.90 11/15/2002 (5 .29) 0.00 151 .00 Galyan's Trading Company 2,011 .26 11/2712002 2,121 .13 11/18/2002 (109 .87) 000 2,644.00 Practiceworks Inc 16,270 .22 11/2712002 32,02651 03/04/2002 (15,756 .29) 000 575.00 Practiceworks Inc 3,538.34 11/27/2002 6,971 .19 03/05/2002 (3,432 .85) 0.00 212.00 Exact Sciences Corp 2,616.00 11/2912002 3,40048 11/14/2002 (784.48) 0.00 59100 Aceto Corp. 9,958.04 12/02/2002 7,998.59 11/13/2002 1,959.45 000 48.00 Aceto Corp. 808.78 12/02/2002 650.10 11/1412002 158 .68 000 1,109.00 Activcard Corp 9,958.51 12/02/2002 9,89417 11/15/2002 64.34 0.00 334 .00 Allied Defense Group Inc. 5,277.04 12/0=002 7,61593 03/11/2002 (2,33889) 000 698.00 Allied Defense Group Inc. 11,028.06 12102/2002 17,932.81 04/2612002 (6,904.75) 0.00 121 .00 Apphed Films Corp . 2,513.21 1210212002 2,014.65 11/15/2002 49856 0.00 1,050.C^ Applied Films Corp . 21,80889 12/02/2002 19,834.08 11/2512002 1,974.81 000 502.00 Air Methods Corp. 2,60028 12/0212002 3,331.17 01/0412002 (730.89) 0.00 243.00 Air Methods Corp. 1,258.70 12/02/2002 1,72848 01/07/2002 (469 .78) 0.00 784.00 Air Methods Corp. 4,060.99 12/02/2002 6,102.50 03/05/2002 (2,041 .51) 0.00 601 .00 Applied Signal Technology 6,280.25 12/0-M00^2 7,597550 C&I ir,002 (1,31155 .25) A 00

0 0 0 0 0 0 0 0 0

Driehaus Capital Management Friday January 23, 2004 16:56.36 Page 3 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHA US FOUNDA TION-MICROCAP

Sale Purchase Realized Unamortized Bond Guantity Security Description Proceeds Date cost Date Gain (- Loss) Prendurn Discount) 388 .00 Amen ca Service Group Inc. 5,497.79 12/02/2002 5,10996 07/30/2002 387.83 0.00 78600 Asialnfo Holdings Inc 5,471.65 12/0212002 5,110.57 11/18/2002 361 .08 0.00 1,051 .00 Asialnfo Holdings Inc 7,316.41 12/0212002 8,644.16 1 1/25f2002 (1,327 .75) 0.00 357 .00 Asialnfo Holdings Inc 2,485.21 1210212002 1,846.57 11/15/2002 638.64 0.00 1,219.00 AsiaInfo Holdings Inc 8,485.93 1210212002 7,925.94 11/1 W2002 559.99 000 917.00 Alans Inc 12,370.96 12/02/2002 9,959.63 09/13/2002 2,411 .33 0.00 375 .00 Altins Inc 5,059.01 12102/2002 4,170.08 10/1612002 888 .93 0.00 914.00 Bradley Pharmaceuticals Inc 13,928 .93 12/02/2002 13,748 .66 11/2712002 180 .27 000 1,714.00 Brigham Exploration Co 6,707.26 12/0212002 8,052.41 05/0&'2002 (1,345 .15) 0.00 1,043.00 Back Yard Burgers Inc 4,696.20 12/OM002 10,878 .47 OV242002 (6,182 .27) 0.00 616-00 Central European Distribution Corp. 10,348 .48 12/02/2002 9,888.65 05/02/2002 459.83 0.00 355.00 Central European Distribution Corp. 5,963.82 12/02/2002 5,719.05 05/07/2002 244.77 000 457.00 CollaGenex Pharmaceuticals 4,103.73 12/02/2002 4,368.28 11/21/2002 (264 .55) 0.00 2,384.00 Chicago Pizza & Brewery Inc. 17,537 .36 12/0212002 18,034 .48 05/16t2002 (497 .12) 0.00 457.00 Checkers Drive-in Restaurant 3,404.54 12/02/2002 3,97362 03/06t2OO2 (569 .08) 000 3,678-00 Chorchant Software Inc. 5,942.49 12/02/2002 6,786.73 11/2112002 (844 .24) 000 2,121 .00 Chordiant Software Inc. 3,426.87 12/O2f2OO2 4,205.40 11/2=002 (778 .53) 0.00 194 .00 Celadon Group Inc. 2,11647 12/02/2002 2,432.66 06tl9/2002 (316 .19) 000 80-00 Celadon Group Inc. 872 .77 12/02/2002 1,097.21 W20/2002 (224 .44) 0.00 79800 Celadon Group Inc. 8,705.91 12/02/2002 10,819.28 06(21/2002 (2,113 .37) 0.00 916-00 Clean Harbors Inc. 14,06017 12/02/2002 13,20872 II/26t2002 851 .45 0.00 958-00 Computer Network Tech Corp. 8,803.75 12/02/2002 7,735.66 11/14/2002 1,068.09 000 775.00 CompuCorn Systems Inc. 4,976.51 12/02/2002 3,961.73 08/20/2002 1,014.78 0.00 2,178.00 CompuCorn Systems Inc. 13,985 .61 1210212002 12,383 .92 08f2912002 1,601 .69 0.00 745.00 Compex Tech Inc 2,757.17 12/0212002 4,778.88 05/08/2002 (2,021 .71) 0.00 46300 Coachmen Industries Inc. 7,423.56 12/02/2002 7,970.27 09/09/2002 (546 .71) 0.00 386.00 Cray,lnc 2,663.63 12/02/2002 1,53858 05/31/2002 1,125.05 0.00 97.00 Cray, Inc 669 .36 12/02/2002 390.46 06t0612002 278.90 0.00 1,336.00 Cray,lnc 9,219.18 12/02/2002 5,478.33 08/16/2002 3,740.85 0.00 1,720.00 Crayjnc 11,869 .01 12/02/2002 7,70989 10/21/2002 4,159.12 0.00 426.00 CPI Aerostructures Inc 2,392.12 12/0212002 3,262.39 09/1312002 (870 .27) 0.00 384.00 CPI Acrostructares Inc 2,156.28 12/02/2002 2,940.75 08/13/2002 (794 .47) 0.00 967.00 DICK S SPORTING GOODS INC 20,451 .43 12/0212002 17,32671 11/18/2002 3,124.72 000 672.00 Ebookers oorn pic-spons ADR 7,962.95 12tO2/2002 5,537.28 05/31/2002 2,425.67 0.00 610.00 Enterra Energy Trust 3,87948 12/0212002 3,462.60 11/2112002 416.88 0.00 230-00 Eresearch Technology Inc. 3,19000 12/02/2002 2,691.89 04/25/2002 498.11 0.00 119.00 Eresearch Technology Inc. 1,65048 12/02/2002 1,382.65 04/30/2002 267 .83 0.00 214.00 Exactech Inc 4,868.35 I2102f2002 5,063.24 11/0512002 (194 .89) 000 158.00 Exact Sciences Corp 1,913.32 12102/2002 2,534.32 11/1412002 (62100) 000 457.00 First Cash FmI Svcs Inc 4,528.73 l2t02/2002 4,611 13 11/2212002 (82.40) 0.00 587-00 Fuel Tech N V 2,372.78 1210212002 2,964.35 12IM-2001 (591 .57) 0.00 1,48900 Fuel Tech N V 6,018.85 12/02/2002 7,79805 01/30/2002 (1,779.20) 0.00 Driehaus Capital Management Friday January 23, 2004 16:56.36 Page 4 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHA US FOUNDA TION-MICROCAP

Sale Purchase Realized Unarnortized Bond Onantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

1,433.00 Fuel Tech N V 5,79249 12/02/2002 8,930.75 04/16/2002 (3,138 .26) 0.00 31200 Galyan's Trading Company 4,155.90 12/02/2002 4,158.37 11/1412002 (2.47) 000 341 .00 Gric Commitnications Inc 1,255.44 12/02/2002 83309 11/0612002 422 .35 0.00 1,696.00 Gric Communications Inc 6,244.08 12/0212002 5,531.99 11/19/2002 712 .09 000 198 .00 GTSI Corp 2,636.31 12/02/2002 2,683.53 11/2212002 (47 .22) 000 1,254.00 GTS I Corp 16,69663 12/02/2002 18,123 .44 12/02/2002 (1,426.81) 000 184.00 Gymboree Corp 3,862.04 12/02/2002 3,704.84 10128/2002 157 .20 000 551 .00 Gymboree Corp 11,565 .14 12/02/2002 11,072.35 11/15/2002 492.79 0.00 790.00 Hi-Tech Pharmacal Co. Inc. 15,485 .82 12/0212002 13,617.70 11/12/2002 1,868.12 0.00 1,316.~~ Harvest Natural Resources 9,477.80 12/02/2002 6,972.80 09/2312002 2,505.00 0.00 1,934.00 Harvest Natm-A Resources 13,928 .63 12/02/2002 14,219.15 11/06/2002 (29052) 0.00 62.00 ManneMax Inc. 761 .22 12/02/2002 72634 02/04/2002 34.88 0.00 1,295.00 MartneMax Inc. 15,899 .65 1210=002 16,96450 04109f2002 (1,06485) 0.00 322 .00 1 C T Group Inc 5,444.85 12/02/2002 6,59086 03/08/2002 (1,146 .01) 0.00 2,497.00 Imax Corp 10,287 .19 12/02/2002 16,443 .97 05/16/2002 (6,156 .78) 0.00 1,221.00 lasigma Systems Inc. 12,656.13 12/02/2002 14,025 .50 11/18/2002 (1,369 .37) 0.00 1,219.00 Integrated Silicon Solut 6,952.01 12/O2f2OO2 7,053.33 11/27f2OO2 (201 .32) 000 605 .00 J2 GLOBAL COMMUNICATIONS INC 13,051 .69 12/02/2002 6,300.83 04124/2002 6,750.86 0.00 187.00 J2 GLOBAL COMMUNICATIONS INC 4,034.16 12/02/2002 1,947.53 04/2412002 2,086.63 0.00 856.00 J2 GLOBAL COMMUNICATIONS INC 18,466.52 12/02/2002 8,864.65 04/25/2002 9,601 .87 000 397 .00 Jos A Bank Clothiers Inc 9,785.75 12102r2OO2 7,983.79 08/2012002 1,801 .96 000 553-00 Jos A Bank Clothiers Inc 13,631 .04 12/02/2002 14,510.72 11/07/2002 (879 .68) 0.00 323 .00 Kirkland inc: 5,596.19 12/02/2002 5,515.23 09/27/2002 80 .96 0.00 340-00 Leading Brands Inc 1.025 .29 12/02/2002 1,196.80 10/18/2002 (171 .51) 0.00 1,936.00 Leaduag Brands Inc 5,839.13 12102f2002 7,917.05 11/07/2002 (1,97992) 0.00 433 .00 LCI Intl 9,136.02 1210212002 5,361.45 10/31/2002 3,774.57 0.00 5,488.00 LDoksmart Ltd 14,417 .18 12102/2002 13,126 .77 11/2112002 1,290.41 0.00 541 .00 Labor Ready Inc 3,694.91 12/02/2002 3,750.17 03/1312002 (55 .26) 0.00 632.00 Garden Fresh Restaurant 7,109-78 1210212002 8,427.91 04/25/2002 (1,319.13) 0.00 2,426-00 Emerson Radio Corp 10,177 .46 12/02/2002 11,225 .97 11/27/2002 (1,048 .51) 0.00 921 .00 Metron Technology 1,565.63 12102/2002 9,220.68 03/07/2002 (7,655 .05) 0.00 243 .00 Marvel Enterprises Inc. 2,143.56 12102/2002 1,95226 10/28/2002 191 .30 0.00 I 2,606.00 Marvel Enterprises Inc. 22,988 12 12/02/2002 23,614.53 11/18/2002 (626.41) 0.00 383 .00 Nam Tai Electronics Inc 8,452.55 12/02/2002 8,590-69 11/25/2002 (138.14) 0.00 1,732.00 Netease com Inc. ADR 15,968 .55 12102/2002 10,325 .23 1 I/06f2002 5,643.32 0.00 1,529.00 Netsmart Tech Inc 9,958.53 12/0212002 10,626 .55 1112612002 (668 .02) 0.00 464.00 Nutraccutical Intl. Corp. 4,477.46 12/0212002 3,941.92 08/19/2002 635 .54 0.00 1,279.00 Network Equipment Tech Inc 5,384.95 12/02/2002 6,091.86 11/13/2002 (706.91) 000 1,015.00 Neoware Systems Inc 18,878 .62 12102/2002 8,482.30 01/28/2002 10,396.32 0.00 282 .00 Neoware Systems Inc 5,245-10 12102/2002 2,356.66 01/28/2002 2,888.44 0.00 2,177.00 Online Resources Corp 9,581 .27 12/O7J2002 9,395.34 11/25/2002 185 .93 0.00 457 nA O-erstock corn Inc 7,083.65 12101/2002 7,033.87 12,102,r2002 49.7 .9 0.00

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Driehaus Capital Management Friday January 23, 2004 16:56.36 Page 5 Gains and Loss Repor-tfrom 1110112002 to 1013112003 Account: 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceeds Date C2LI Date Gain (- Loss) Premium Discount)

151-00 Oninivision Technologies 2,643.92 12/0212002 2,495.34 11/21/2002 148 .58 000 49600 Perry Ellis International 7.147.14 12/0212002 8,37992 05/21/2002 (1,23278) 0.00 1,051 .00 Packeteer Inc 8,323.66 12/02/2002 7,350.17 11/14/2002 973 .49 0.00 818-00 PLX Technology Inc 4,51988 12/02/2002 3,875.80 11/15/2002 644.08 000 1,031 .00 PLX Technology Inc 5,69682 12/02/2002 5,183.69 11/1812002 513.13 000 529-00 Portfoho Recovery Associate 9,003.30 12/0212002 9,621.29 11/18/2002 (61799) 0.00 3,516-00 Primus Telecommun Grp 5,882.95 12/02/2002 4,89054 11/0612002 992 .41 0.00 1,050-00 Primus Telecommun Grp 1,75685 12/02/2002 1,698.99 11/25/2002 57.86 0.00 400. 10 RITA MEDICAL SYSTEMS INC 2,353.56 12/02/2002 4,191.38 04/09/2002 (1,837 .82) 000 266-00 RITA MEDICAL SYSTEMS INC 1,534.43 1210212002 2,377.75 04/16/2002 (843 .32) 000 1,118-00 Rural / Metro Corp 2,32884 12/02/2002 4,000.16 05/29/2002 (1,671 .32) 0.00 240.00 RADVision Ltd. 1,499.95 12/02/2002 1,523.81 11/21/2002 (23 .86) 0.00 94900 RADVision Ltd. 5,306.09 12/02/2002 5,70528 11/22/2002 (399.19) 0.00 1,707-00 Select Comfort Corp 16,342 .32 12102J2002 11,50501 IQt03/2002 4,837.31 000 49500 Select Comfort Corp. 4,73898 12/02/2002 3,62192 10/04/2002 1,117.06 000 1,027.00 Select Comfort Corp. 9,832.20 1210212002 8,818.34 10/2812002 1,01386 0.00 1,919.00 Secure Computing Corp Internet Sec Com. 13,518 .94 12/02/2002 15,66537 11/21/2002 (2,146.43) 0.00 1,551 .00 Safenet Inc. 40,149 .98 12/02/2002 28,970 .51 07/25/2002 11,179 .47 000 112 .00 Safenct Inc. 2,89929 1210212002 2,025.44 07/29/2002 873 .85 0.00 493-00 Safenet Inc. 12,76205 12/02/2002 8,874.94 07/23/2002 3,887 11 0.00 445 nO Safenet Inc. 11,519 .50 1210212002 8,020.37 07/2612002 3,499.13 0.00 106-00 Safenet Inc. 2,743.97 12/0212002 1,916.94 07/29/2002 827 .03 0.00 471 .00 Sportsman's Guide Inc. 3,296.57 12/0212002 2,519.99 0212012002 776 .58 000 4600 Sportsman's Guide Inc. 321.96 12/0212002 248.47 02r2l/2002 7349 0.00 837.00 Sportsman's Guide Inc. 5,858.23 12/02/2002 5,557.68 04/1612002 30055 0.00 33.00 Sharper Image Corp. 634.90 12102/2002 699.77 IW15/2002 (6487) 000 96700 Sharper Image Corp . 18,604 .51 12102/2002 22,644.24 11/05/2002 (4,039.73) 0.00 2,243-00 Sina Corp 11,886 .90 12/0212002 7,58544 11/14/2002 4,301 .46 0.00 1,584-00 Sina Corp 8,394.49 12/02/2002 6,35836 11/15/2002 2,036.13 000 1,179.00 Sobu coin Inc. 6,814.41 12/02/2002 6,91840 11/2212002 (103 .99) 0.00 652-00 Signal Technology Corp 6,356.21 12102/2002 7,584.78 10/17/2002 (1,228 .57) 0.00 250-00 Signal Technology Corp 2,437.20 12/02/2002 2,53500 10108/2002 (97 .80) 000 494.00 Signal Technology Corp 4,815.90 12/02/2002 5,74675 10/1712002 (930.85) 000 267.OD SunOpta Inc 866 .42 12102/2002 94948 04/17/2002 (83 06) 0.00 937-00 SunOpta Inc 3,04059 12/0212002 3,119.55 05/08/2002 (78 .96) 000 1,573.00 SunOpta Inc 5,104.43 12/02/2002 5,58044 05/09/2002 (476.01) 0.00 282-00 Lendingiree Inc. 3,727.92 12/02/2002 2,576.26 01/25/2002 1,151 .66 0.00 2,638-00 ThestreeLCOM Inc 8,850.35 12/02/2002 9,456.71 11/27/2002 (606.36) 0.00 1,234.00 Trans%vitch Corp 1,344.00 12102/2002 1,37701 11/22/2002 (33 .01) 0.00 3,346-00 Transwitch Corp 3,644.27 12/02/2002 4,224.46 11/2512002 (580.19) 0.00 1,011.00 Tyler Technologies Inc 4,207.54 12/02/2002 4,285.22 12/17/2001 (77 .68) 0.00 1,52000 United Online Inc 24,414.11 12/02/2002 23,587 .82 11/15/2002 826 .29 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 6 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H, DRIEHA US FOUNDA TION-MICROCAP

Sale Purchase Realized Unarnortized Bond Ouand Security Descriptio Proceeds Date Cost Date Gain (- Loss) Premium Discount)

1,00600 Usana Inc 10,039 .98 12/02/2002 10,660 .68 11/19/2002 (620.70) 0.00 900-00 Usana Inc 8,982.09 12/02/2002 9,567.81 11/20/2002 (585 .72) 0.00 519 .00 Vital Images Inc 4,483.09 1210212002 4,48416 11/27/2002 (1 .07) 0.00 610.00 VVItite Electronic Design 5.89474 12/02/2002 5,225.75 08/30/2002 66899 000 56600 Yocream International Inc 4,192.01 12/0212002 4,301 .03 06110/2002 (109-02) 0.00 42-00 Yocream, international Inc 31107 1210=002 367.90 0611 If2002 (56.93) 0.00 413 .00 GTSI Corp 5,971 .79 12/03/2002 5,597.47 11122/2002 374.32 0.00 297-00 Neoware Systems Inc 5,019.14 12/03/2002 2,48201 01/28/2002 2,537.13 0.00 305 .00 Signal Technology Corp 2,825.92 12/03/2002 3,092.70 10108/2002 (266,78) 0.00 61600 CPI Aerostructures Inc 3,333.93 12/04/2002 4,717.45 08/13/2002 (1,383 .52) 0.00 372 .(X) Omm vision Technologies 5,602.45 12/0412002 6,147.45 11/21/2002 (54500) 0.00 1,055.W PLX Technology Inc 4,91523 1210412002 4,93633 11114/2002 (21 .10) 0.00 1,292.00 PLX Technology Inc 6,019.40 12/04/2002 6,121 .69 11/15/2002 (102.29) 0.00 7,297.00 Transwitch Corp 6,518.29 12104/2002 8,142.63 11/22/2002 (1,624.34) 0.00 3,27800 Chordiant Software Inc. 4,10457 12/05/2002 5,875.81 1111412002 (1,771 .24) 0.00 563-00 Chordiant Software Inc. 704.96 12/05/2002 1,038.86 11/21/2002 (333 .90) 0.00 2,129.00 PLX Technology Inc 10,989 .69 12/05/2002 9,961 .57 11/1412002 1,028.12 000 110.00 DICK S SPORTING GOODS INC 2,27693 1210612002 1,934.50 11115/2002 342.43 0.00 80.00 DICK S SPORTING GOODS INC 1,655.95 12/0612002 1,43344 11/18/2002 222 .51 0.00 433 .00 J2 GLOBAL COMMUNICATIONS INC 7,802.42 12/0612002 4,484.10 04/25/2002 3,318.32 000 771 .00 Sharper Image Corp. 13,561-55 12/09/2002 16,349 .06 10115/2002 (2,78751) 000 731 .00 1 C T Group Inc 10,874 .17 12/12/2002 14,962 .47 03/08/2002 (4,088.30) 0.00 614 .00 Lenclingtree Inc. 7,410-75 12/1212002 5,60931 01/25/2002 1,801 .44 000 756.00 Kirklaud inc 10,166 .45 12A712002 12,908 .70 0912712002 (2,74225) 0.00 1,154.00 Computer Network Tech. Corp. 8,55953 12/1812002 9,318.32 11/14/2002 (758.79) 0.00 449.00 Gymboree Corp 8,310.74 12/1812002 8,921 .81 10/25/2002 (61107) 0.00 705-00 Gymboree Corp 13,049 .15 12/1&'2002 14,166 .98 11/15/2002 (1,117.83) 0.00 1,325.00 Imax Corp 4,830.06 12118/2002 8,725.77 05/16/2002 (3,89571) 0.00 2,981 .00 Integrated Silicon Solut 11,585 .95 12/18/2002 17,262 .71 11/27/2002 (5,67676) 0.00 1,268.00 Labor Ready Inc 7,259.96 1211&'2002 8,789.67 03/13/2002 (1,529.71) 0.00 234 .00 Nam Tat Electronics Inc 5.794-30 12/18/2002 4,957.76 11/13/2002 826 .54 0.00 381 .00 Nam Tat Electronics Inc 9,418.04 12118/2002 8,545.83 11125/2002 872 .21 0.00 405-00 Packeteer Inc 2,928.06 12/18/2002 2,69596 11/13/2002 232 .10 0.00 1,133-00 Packeteer Inc 8,191-34 12118/2002 7,92364 11/1412002 267 .70 0.00 182 .00 Secure Computing Corp Internet See Com 1,087.42 12/18/2002 1,144.13 11/13/2002 (5671) 0.00 1,356.00 Secure. Computing Corp Intemet See Coin 8,101 .84 12/18/2002 11,069 .43 1112112002 (2,967 .59) 0.00 603.00 Sharper Image Corp. 9,789.40 12/18/2002 12,004 .83 09/09/2002 (2,215 .43) 0.00 159 .00 Sharper Image Corp. 2,581.29 12/18/2002 3,371.60 10/15/2002 (79031) 0.00 3,874.00 Transwitch Corp 2,457.10 12/18/2002 4,322.95 11/2212002 (1,865 .85) 0.00 585.00 Imax Corp 2,126.61 12119/2002 3,852.51 05116r2OO2 (1,725 .90) 0.00 387.00 Imax Corp 1,406.83 12119f2002 2,324.86 09/17/2002 (918.03) 000 763.00 Safenet Inc. 19.021 62 12/19/7-002 13,73545 07/23/2002 5,286.17 0.00

0 0 0 0 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 7 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount) 1,635.00 Cbordiant Software Inc. 2,16520 12/20/2002 2,85273 11/06/2002 (687 .53) 0.00 1,496.00 Chordiant Software Inc 1,981.13 12120/2002 2,681 .58 11/14/2002 (700.45) 0.00 69400 Chordiant Software Inc. 905 .81 1212012002 1,226.48 11/15/2002 (320.67) 0.00 458.00 Neoware Systems Inc 6,976.45 12/20/2002 3,827.48 01/2812002 3,148.97 0.00 1,148.00 RITA MEDICAL SYSTEMS INC 5,950.24 12/20/2002 10,261 .86 04/1612002 (4,311 .62) 000 1,526-00 Secure Computing Corp Internet Sec Corn 8,392.74 12/2012002 9,593.08 11/13/2002 (1,200.34) 000 69000 Gric Communications Inc 1,577.38 12/23/2002 1,685.72 11/0612002 (108.34) 0.00 409.00 RITA MEDICAL SYSTEMS INC 2,085.83 12123/2002 3,65601 04/16/2002 (1,570.18) 000 230.00 Gric Communications Inc 521 .34 1212412002 561 .91 11/06/2002 (40.57) 000 399 .00 Gymboree Corp 6,795.92 1212412002 7,928.29 10/25/2002 (1,132.37) 000 375 .00 Gric Communications Inc 882 .84 12/2612002 91615 11/0612002 (3331) 0.00 575 .00 Gnc Communications Inc 1,348.04 12127/2002 1,404.77 11/06/2002 (56 .73) 0.00 183.00 Hi-Tech Pharmacal Co. Inc. 4,892.59 12/3012002 2,878.61 10/11/2002 2,01398 0.00 198 .00 Hi-Tech Pharmacal Co. Inc. 5,293.63 12/30/2002 3,184.57 10/1412002 2,109.06 0.00 17100 Hi-Tech Pharmacal Co. Inc. 4,571.77 1213012002 2,947.63 11/12/2002 1,624.14 000 355 .00 Overland Storage Inc. 5,186.39 12/3012002 5.214 .24 12/1112002 (27.85) 0.00 6000 Allied Defense Group Inc. 1,121 .96 01/02/2003 1,368 13 03/11/2002 (24617) 0.00 70.00 Apphed Film Corp. 1,403.45 01/0212003 1,165.50 11/15/2002 237 .95 000 76.00 Aluns Inc 1,135.40 01/02/2003 825.44 09/13/2002 309 .96 000 74-00 Central European Distribution Corp. 1,374.13 01/02/2003 1,373.94 12/17/2002 0.19 000 146 .00 Chicago Pizza & Brewery Inc. 97662 01/02/2003 1,104.46 05/1612002 (127 .84) 000 62.00 Celadon Group Inc. 712.66 01/0212003 777.45 06/19/2002 (6479) 000 74.00 Clean Harbors Inc. 1,145.48 01/02/2003 1,282.04 12/1712002 (136 .56) 0 00 166 .W CompuCom Systems Inc. 972.73 01/0212003 848 .58 08/2012002 124.15 000 104 .00 Cray,Inc 782.05 01/02/2003 414.54 05/31/2002 367 .51 0.00 60 00 DICK S SPORTING GOODS INC 1,162.16 01/0212003 1,055.18 11/15/2002 106 .98 0.00 48.00 Hi-Tech Pharmacal Co Inc. 1,284.92 01/02/2003 755.04 10/1112002 529 .88 000 48-00 Harvest Natural Resources 297 .11 01/02/2003 254.33 09/23/2002 42 .78 000 80.00 ManneMax Inc. 935 .97 01/02/2003 937.21 02/04/2002 (124) 0.00 56.00 Jos A Bank Clothiers Inc 1,175.96 01/02/2003 1,126.18 08/20/2002 49 .78 0.00 380.00 Looksmart Ltd 939 .35 01/02/2003 1,052.30 12/1612002 (112 .95) 0.00 146-00 Emcrson Radio Corp 746.03 01/0212003 675.59 1 Ir.7r-002 7044 000 84.00 Marvel Enterprises Inc 753.45 01/02/2003 67486 10/28/2002 78 .59 0.00 71.00 Netease com Inc. ADR 83422 01/02/2003 85275 12120/2002 (18.53) 0.00 94.00 Select Comfort Corp 909.42 01/0212003 633.55 10103/2002 275 87 000 4 2. ~'Xn Sharper Image Corp . 74631 01/02/2003 836 16 09/09/2002 (89.85) 0.00 113.00 Sina Corp 764.58 01/02/2003 38215 11/14/2002 382 .43 0.00 45.00 United Online Inc 721 .55 01/02/2003 69832 11/15/2002 23 .23 0.00 57-00 Usana Inc 669-15 01/02/2003 691 .41 12131/2002 (22.26) 0.00 569-00 Checkers Drive-in Restaurant 3,75528 01/0612003 4,94746 03/0612002 (1,192.18) 0.00 387-00 Ebookers.com pic-spons ADR 4,40392 01/0612003 3,188.88 05/31/2002 1,215.04 000 212.00 Hi-Tech Pharmacal Co Inc. 6,234.73 01/06(2003 3,334.78 10/11/2002 2,899.95 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 8 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056501 -- RICHARD H. DRIEHA US FOUNDA TION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Prenflum Discount)

2,648.00 RADVision Ltd. 14,527 .37 01/0612003 16,812 .71 11/21/2002 (2,285 .34) 0.00 786.00 Sharper Image Corp. 13,762 .44 01/06/2003 15,648 .08 09/09/2002 (1,885 .64) 0.00 503.00 Checkers Drive-in Restaurant 3,294.54 01/07/2003 4,373.59 03/06/2002 (1,079 .05) 0.00 78800 Ebookers .com. pic-spons ADR 8,589-64 01/0712003 6,493.12 05/3112002 2,096.52 0.00 276.00 Ebookers com pIc-spons; ADR 3,008.56 01/07/2003 2,249.40 0610312002 759.16 0.00 473.00 Fargo Electronics 4,652.18 01/07/2003 5,833.79 12/12/2002 (1,181 .61) 0.00 1,442-00 White Electronic Design 10,483 .02 01/0712003 12,353 .33 08/30/2002 (1,870 .31) 0.00 1 .00 Cash in Ueu - Short Term 6.00 01108/2003 000 01/08/2003 6.00 0.00 146.00 Ebookers .com pic-spons ADR 1,557.76 01/0&12003 1,189.90 06t03/2002 367 .86 0.00 647.00 Fargo Electronics 5,63202 01/08/2003 7,628.13 12/06t2OO2 (1,996 .11) 0.00 276-00 Fargo Electronics 2,402.53 01/0&-2003 3,404.07 12/12/2002 (1,001 .54) 0.00 223.00 Fargo Electronics 1,941.18 01/0&'2003 2,676.00 12/1312002 (734 .82) 0.00 509.00 Overland Storage Inc. 7,191.95 01/08/2003 8,213.68 01/0612003 (1,021 .73) 0.00 511 .00 Signal Technology Corp 4,987.10 01/08/2003 5,181.54 10108/2002 (194 .44) 0.00 298.00 Signal Technology Corp 2,908.33 01/08/2003 3,307.80 01/02/2003 (399 .47) 0.00 1,109.00 AsiaInfo Holdings Inc 7,119.56 01/09/2003 5,736.28 11/15/2002 1,383.28 0.00 418.00 Asialafo Holdings Inc 2,683-48 01/09/2003 2,797.59 01/02/2003 (114 .11) 0.00 1,088.00 Chicago Pizza & Brewery Inc. 7,210.93 01/09/2003 7,021.23 03/2812002 189.70 0.00 606.00 Chicago Pizza & Brewery Inc. 4,016.38 01/09/2003 4,15025 04/01/2002 (133 .87) 000 596.00 Chicago Pizza & Brewery Inc. 3,950-11 01/0912003 4,508.62 05/16/2002 (558 .51) 0.00 67.00 Clean Harbors Inc. 1,014.35 01/09/2003 966.14 11/2612002 48.21 0.00 385 .00 Clean Harbors Inc. 5,828.72 01109/2003 6,235.27 12/16/2002 (406 .55) 0.00 311 .00 Clean Harbors Inc. 4,708.39 01/09/2003 5,388.01 1211712002 (679 .62) 0.00 348.00 CompuCom Systems Inc. 1,913.32 01/09/2003 1,600.80 08/12/2002 312.52 0.00 1,124.00 CompuCom Systems Inc. 6,179.80 01/09/2003 5,149 84 08/13/2002 1,029.96 0.00 1,554.(YJ CompuCom Systems Inc. 8,543.96 01/0912003 7,943.90 08/20/2002 60006 000 1,701 .00 Compex Tech Inc 5,996.23 01/09/2003 10,911 .24 05/08/2002 (4,915 .01) 0.00 2,417-00 Gric Communications Inc 5,719.56 01/09/2003 5,527.44 11/0512002 192.12 000 60400 Gric Communications Inc 1,429.30 01/0912003 1,475.62 11/06/2002 (46 .32) 0.00 632-00 Imax Corp 2,254.76 01/09/2003 3,79498 09/16/2002 (1,530.22) 0.00 1,276.00 Imax Corp 4,552.34 01/09/2003 7,665.44 09/1712002 (3,113 10) 0.00 3,053.00 Primus Telecommun Grp 5,524.14 01/09/2003 4,246.54 11/0612002 1,277.60 000 341 .00 GTSI Corp 4,920.48 01/1012003 4,41919 11121/2002 501 .29 0.00 69.00 GTSI Corp 995.64 01/10/2003 935.17 1112212002 60.47 0.00 763-00 Usanalnc 8,919.19 01/10/2003 9,255.19 12131/2002 (33600) 0.00 1,150.00 GTSI Corp 16,191 .50 01/13/2003 14,903 .43 11/21/2002 1,288.07 0.00 373.00 Hi-Tech Pharmacal Co. Inc. 9,376.93 01/1312003 5,867.33 10/11/2002 3,509.60 0.00 383 .00 Applied Signal Technology 3,940.95 01/14/2003 4,840.39 06tI 1/2002 (89944) 0.00 115.00 CompuCorn Systems Inc. 60488 01/14/2003 524.35 08/0912002 8053 0.00 1,411.00 CompuCoin Systems Inc. 7,421.63 01/14/2003 6,464.78 08/13/2002 956.85 0.00 189-00 Jos A Bank Clothiers Inc 4,301.50 01/14/2003 3,800.85 08/20/2002 500.65 0.00 2,159.00 1Wo.1c .-or. T ech-nology 3,672.10 0111412003 21,615 .04 ON07/2002 (17,94294) 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Descrivtion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

709.00 Overland Storage Inc 10,709 .04 01/1412003 10,413 .79 12111/2002 295 .25 0.00 103 .00 Overland Storage Inc. 1,555.76 01/14/2003 1,662.10 0110612003 (106.34) 000 1,33400 Raindance Communications 4,000.60 01/14/2003 5,333.22 12/1112002 (1,332.62) 000 65600 Raindance Communications 1,967.31 01/1412003 2,692.03 12/1212002 (724.72) 0.00 251 .00 Raindance Communications 752 .74 01/1412003 98036 12/13/2002 (227.62) 000 755.00 Applied Films Corp . 14,905 .96 01/15/2003 12,570.75 11/15/2002 2,335.21 0.00 189 .00 Jos A Bank Clothiers Inc 4,224.45 01/15/2003 3,80085 08/20/2002 423 .60 0.00 1,146.00 Sina Corp 9,855.29 01/15/2003 3,87557 11/1412002 5,97972 0.00 246.00 United Online Inc 4,14989 01115/2003 3,63834 11/13/2002 51155 0.00 13000 United Online Inc 2,193.03 01/15/2003 1,90174 11/14/2002 291 .29 0.00 600 United Online Inc 101 .22 01/15/2003 93 .11 11/15/2002 8 11 000 99200 Applied Films Corp . 17,569 .27 01/16/2003 16,516.80 11/15/2002 1,05247 000 18900 Bin Reference Labs Inc. 1,139.63 01/16/2003 1,238.04 01/02t2003 (9841) 000 1,97300 CompuCoin Systems Inc. 9,706.33 01/1612003 8,99598 08/09/2002 710.35 000 20600 21 st Century Holding Co 2,358.62 01/16/2003 2,75834 12120/2002 (399.72) 0.00 98.00 Able Laboratories Inc 1,116.32 01/17/2003 1,227.94 01/09/2003 (111 .62) 0.00 5400 Bradley Pharmaceuticals Inc 792.78 01/17/2003 81655 01/0612003 (23.77) 0.00 382.00 Bradley Pharmaceuticals Inc 5,60824 01/17/2003 5,776.34 01/06/2003 (168.10) 0.00 403.00 Bio Reference Labs Inc 2,387.69 01/17/2003 2,639.85 01/02/2003 (252.16) 0.00 100 .00 Enterra, Energy Trust 82797 01/17/2003 678 .73 12/13/2002 149 .24 0.00 148 .00 Harvest Natural Resources 80824 01/17/2003 78418 09/23/2002 24.06 0.00 9400 Imax Corp 376 .06 01/17/2003 562.96 09/16/2002 (18690) 0.00 94.00 Insignia Systems Inc 91553 01/17/2003 1,079.77 11/18/2002 (164.24) 0.00 90.00 Packeteer Inc 805 .47 01/17/2003 811 .36 01/10/2003 (5.89) 0.00 236.00 Primus Telecommun Grp 50755 01/17/2003 328.26 II/06t2002 17929 0.00 126 .00 Sohu corn Inc. 977 .73 01/17/2003 908.79 01/03/2003 6894 0.00 360.00 Stratasys Inc 3,591.25 01/1712003 3,722.40 01/0212003 (131 .15) 0.00 555.00 Celadon Group Inc. 4,948.55 01/21/2003 6,959.42 06(19/2002 (2,010.87) 0.00 832.00 Clean Harbors Inc. 11,77244 01/21/2003 11,190.40 11/25/2002 582.04 0.00 6800 Clean Harbors Inc. 962.17 01/2112003 980.56 11/2612002 (18.39) 0.00 185 .00 Coachmen Industries Inc. 2,878.47 01/21/2003 3,184.66 09/09/2002 (306.19) 0.00 441 .00 Coachmen Industries Inc. 6,861.66 01/21/2003 7,041.18 11/22/2002 (179.52) 0.00 483.00 Coachmen Industries Inc. 7,515.15 01/21/2003 7,78881 11/25/2002 (273.66) 000 2,266.00 Harvest Natural Resources 11,165 .42 01/21/2003 12,006.36 09/23/2002 (840.94) 0.00 126 .00 Safenet Inc. 3,273.38 01/21/2003 2,26824 07/23/2002 1,00514 0.00 36700 Safenet Inc. 9,534.37 01121/2003 6,58031 10/21/2002 2,954.06 000 27000 Safenet Inc. 7,014.39 01/21/2003 7,030.80 01/02/2003 (16.41) 0.00 69M Able Laboratories Inc 75667 01/2212003 72853 1210512002 28 .14 0.00 1,05700 Able Laboratories Inc 11,59134 01/22/2003 13,244.21 01/09t2003 (1,65287) 0.00 1,907.00 Clucago Pizza & Brewery Inc. 12,231 .12 01/2212003 12,30650 03/28/2002 (75.38) 0.00 38400 Celadon Group Inc. 3,307.70 01/2212003 4,815.17 06/19/2002 (1,507.47) 0.00 757.00 Galyan's Trading Company 7,910.40 01/22/2003 10,08937 11/14/2002 (2,178.97) 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 10 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHAUS FOUNDA TION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium f- Discount)

2,281.00 Online Resources Corp 5,857.62 01/22/2003 9,205.48 11/19/2002 (3,347 .86) 0.00 55.00 Online Resources Corp 141 .24 01/22/2003 237.37 11/25/2002 (96 .13) 0.00 324 .00 Celadon Group Inc 2,720.73 01/23/2003 4,062.80 06/19/2002 (1,342 .07) 0.00 758.00 lbestreet com Inc 1,882.62 01/23/2003 2,481.12 11/13/2002 (598 .50) 000 1,067.00 Tlestreet .com Inc 2,650.07 01123/2003 3,708.28 11/20/2002 (1,058 .21) 000 511 .00 T'liestreeLcom, Inc 1,269.15 01/23/2003 1,831.83 11/27/2002 (562 .68) 0.00 69000 Chicago Pizza & Brewery Inc. 4,590.70 01/2412003 4,45280 03/28/2002 137.90 0.00 64.00 Celadon Group Inc. 522 .86 01/24/2003 802.53 06119/2002 (279 .67) 000 1.00 Cash in Lieu - Short Term 8.25 01124/2003 000 01/2412003 8 25 0.00 1,316.00 Secure Computing Corp Internet Sec Com 7,377.80 0112412003 8,27293 11/13/2002 (895 13) 000 251 .00 Secure Computing Corp Internet See Com 1,407.16 01/24/2003 1,56865 11/14/2002 (161 .49) 0.00 249.00 Central European Distribution Corp . 5,972.62 01/27/2003 5,826.60 01/15/2003 14602 0.00 415.00 Chicago Pizza & Brewery Inc. 2,750.12 01/27/2003 2,678.13 03/28/2002 71 .99 0.00 519.00 Celadon Group Inc. 4,102.41 01/2712003 6,508.00 06/19/2002 (2,405 .59) 0.00 561 .00 Celadon Group Inc. 4,434.40 01/27/2003 6,889.53 1010212002 (2,455 .13) 0.00 48.00 Celadon Group Inc 379.41 01/2712003 582.72 lOtO3/2002 (203 .31) 0.00 1,269.00 Clean Harbors Inc. 16,966 .01 01/2712003 17,068 .05 11/25/2002 (102 .04) 0.00 610.00 EUniverse Inc 3,519.59 01/27/2003 4,167.83 01/06/2003 (648 .24) 0.00 757.00 MarineMax Inc. 8,729.76 01/27/2003 8,868.33 02/0412002 (13857) 0.00 534.00 Safenet Inc. 14,144 .00 01/27/2003 9,574.62 10/21/2002 4,56938 0.00 531 .00 Sohu com Inc. 4,594.66 01/27/2003 3,458.88 12123/2002 1,135.78 0.00 893.00 Sohu com Inc. 7,726.98 01/27/2003 5,991.49 01/02/2003 1,735.49 0.00 94.00 Sohu com Inc. 813 .37 01/27/2003 677 .98 01/03/2003 135 .39 0.00 60.00 Safenet Inc. 1,523.72 01/29/2003 1,048.73 07/2212002 47499 0.00 475 .00 Safenet Inc 12,062 .77 01/29/2003 8,516.75 10/21/2002 3,54602 000 123.00 GTSI Corp 1,270.70 01130/2003 1,22895 08/1312002 41 .75 0.00 968 .00 GTSI Corp 10,000 .29 01/30/2003 10,091 .21 08/14/2002 (90.92) 0.00 58.00 GTSI Corp 599.19 01/30/2003 751 .65 11/21/2002 (152.46) 0.00 663 .00 Bradley Pharmaceuticals Inc 6,894.99 01/31/2003 9,47016 11/26/2002 (2,575 .17) 0.00 136.00 Bradley Pharmaceuticals Inc 1,414.36 01/31/2003 2,045.75 11/27/2002 (63139) 0.00 I 721.00 Bradley Pharmaceuticals Inc 7,498.17 01/31/2003 10,902 .46 01/0612003 (3,404.29) 000 1,163.00 Computer Network Tech. Corp. 8,451 .50 01/31/2003 9,390.99 11/14/2002 (93949) 0.00 1,538.00 Computer Network Tech. Corp. 11,176 .61 01/31/2003 14,134 .22 01/10/2003 (2,957 .61) 0.00 914.00 Cray, Inc 5,987.25 01/3112003 3,589.18 05/30/2002 2,398.07 0.00 1,379.00 Cray,lnc 9,033.28 01/31/2003 5,496.64 05131/2002 3,53664 000 378.00 MarineMax Inc. 4,315.26 01131/2003 4,428.31 02/04/2002 (113 .05) 0.00 784.00 Looksmart Ltd 2,168.39 01/31/2003 2,171 .05 12/16r2002 (2.66) 0.00 5,270.00 Looksmart Ltd 14,575.82 01/31/2003 17,383 .68 01/09/2003 (2,807 .86) 0.00 1,037.00 Network Engines Inc 1,505.63 01/3112003 2,076.63 01/28/2003 (571 .00) 0.00 683.00 Bradley Pharmaceuticals Inc 8,050.48 02/0312003 9,755.94 11/26t2OO2 (1,705 .36) 0.00 9.00 EUniverse Inc 46.51 0210312003 46.89 12/10/2002 (0.38) 0.00 918.00 EUnivefse Inc 4,743.7 1 022101-4003 6,272.24 0,106rz.003 (1,528 .j-j) ft.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

561 .00 Network Engines Inc 758.56 02103/2003 1,12342 01/28/2003 (364,86) 0.00 217.00 EUniverse Inc 1,075.04 02/04/2003 1,130.51 12/10/2002 (55,47) 0.00 378.00 ManneMax Inc. 4,126.34 02/04/2003 4,42831 02/0412002 (301 .97) 000 266.00 Network Engines Inc 326.62 0210412003 521 .27 01/27/2003 (19465) 0.00 2000 Network Engines Inc 2456 02104/2003 40.05 Olr28/2003 (15 .49) 0.00 1,923.00 Sina Corp 14,36687 02104/2003 5,190.20 10128/2002 9,17667 0.00 370.00 Sma Corp 2,764.30 02/04/2003 1,251.28 11/14/2002 1,513.02 0.00 4,034.00 Chordiant Software Inc. 5,054.14 02/05/2003 7,038.47 1 I/W2002 (1,984.33) 0.00 2,280.00 Chordiant Software Inc 2,85658 02/05/2003 3,68438 11/07/2002 (827.80) 000 110.w Network Engines Inc 13606 02/05/2003 21556 01/27/2003 (7950) 000 1,527.00 Natural Alternatives Intl . 5,838.36 02106/2003 7,396.21 01/17/2003 (1,557 .85) 0.00 176.00 Network Engines Inc 209.65 02106f2003 34490 Olf2712003 (135 .25) 0.00 548.00 Safenet Inc. 11,981 .38 02106/2003 9,57844 07/22/2002 2,402-94 0.00 119.00 Network Engines Inc 137 .19 02107/2003 23320 01/27/2003 (96,01) 0.00 1,058.00 Netease com Inc. ADR 14,536 .69 02/0712003 11,579.39 12/17/2002 2,957.30 0.00 76.00 Netease com Inc. ADR 1,044.22 02/07t2003 767.54 12118/2002 276 .68 000 50.00 Netease com Inc ADR 686.99 02/07/2003 526.48 12/19/2002 16051 0.00 120.00 Netease com Inc. ADR 1,648.77 02/07/2003 l,"1.27 12120/2002 207 .50 0.00 1,143.00 Emerson Radio Corp 7,51191 02/1012003 7,03094 01/09/2003 480-97 0.00 192.00 Natural Alternatives Intl. 687 .74 02/1012003 873 10 01/1512003 (185 .36) 000 190.00 Natural Alternatives Intl. 680.57 02110/2003 92029 01/17/2003 (239 .72) 000 457.00 Overstock.com Inc 6,337.57 02/10/2003 7,268.13 01/14/2003 (93056) 0.00 312.00 Sina Corp 2,291.60 02110/2003 798.72 08/30/2002 1,492.88 0.00 1,594.00 Sina, Corp 11,707 .73 02110/2003 4,30223 10/28/2002 7,405.50 000 263 .00 Sohu com Inc. 2,166.26 02/10/2003 1,640.75 12/2=002 525 .51 000 875 .00 Sohn corn Inc. 7,207.15 02/10/2003 5,699.66 12123/2002 1,50749 0.00 754.00 Bradley Pharmaceuticals Inc 9,442.59 02/1212003 10,769-99 11/2612002 (1,327 .41) 0.00 509.00 Insignia Systems Inc. 3,197.44 02/1212003 5,380.13 11/1212002 (2,182 .69) 0.00 524.00 Insignia Systems Inc. 3,29167 02/12/2003 5,973.60 11/15/2002 (2,681 .93) 0.00 255 .00 Insignia Systems Inc. 1,601.86 02/1212003 2,929.16 11/18/2002 (1,327 .30) 0.00 1,155.00 Sina Corp 7,623.92 02/12/2003 2,95680 08/30/2002 4,667.12 0.00 13800 Insignia Systems Inc. 709 .96 02113r-003 1,41450 1 l/0=002 (704 .54) 000 1,135.00 Insignia Systems Inc. 5,83917 02/13/2003 11,983 .78 11/11/2002 (6,14461) 0.00 294.00 Insigrua Systems Inc. 1,51252 02113/2003 3,107.58 11/12/2002 (1,595 .06) 0.00 97000 Emerson Radio Corp 5,53951 02/13/2003 5,351.63 01/09/2003 18688 0.00 338 .00 Marvel Enterprises Inc. 3,116.26 02/13/2003 2,715.49 1 Or28/2002 400.77 000 739.00 Netease corn Inc. ADR 9,114.47 02/13/2003 4,40551 11/06/2002 4,708.96 000 159.00 Netease com Inc ADR 1,96103 02/13/2003 1,605.77 12/18/2002 355 .26 0.00 758.00 Sina Corp 4,36223 02/13/2003 1,940.48 08/3012002 2,421.75 0.00 82800 Sohu com Inc. 5,352.53 02/13/2003 4,858.72 1112212002 493 .81 000 690-00 Sohu com Inc. 4,460.44 02/13/2003 4,30463 12/20/2002 15581 0.00 1,143.00 United Online Inc 16,046 .32 0211Y2003 16,72072 11 / 102002 (674 .40) 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 12 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHAUS FOUNDA TION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouand~v Security Description Proceeds Date Cost Date Gain (- Loss) Prernium Discount)

221-00 Primus Telecommun Grp 421 .56 02/14/2003 286.05 11/05/2002 135 .51 000 274 .00 Primus TeIecommun Grp 522.66 02tl4/2003 381 .12 11/06/2002 141 .54 0.00 15.00 Allied Defense Group Inc. 221 .99 02/18/2003 342 .03 03/11/2002 (12004) 000 443.00 Chicago Pizza & Brewery Inc. 2,75094 02/18/2003 2,858.83 03/28/2002 (107 .89) 0.00 586-00 Primus Telecommun Grp 1,133.08 02/18/2003 758 .50 11/05/2002 374 .58 0.00 202.00 Primus Telecommun Grp 38410 02119/2003 261 .46 11/05/2002 122 .64 0.00 2,27000 Looksmart Ltd 5,501.16 02/2Ot2OO3 7,507.63 02/14/2003 (2,006 .47) 0.00 235 00 Primus Telecommun Grp 450.49 02/20/2003 304 .18 11/05/2002 146 .31 0.00 492.00 LCI Ind 8,749.02 02/21/2003 10,043 .10 01123/2003 (1,294 .08) 0.00 123-00 Primus Telecommun Grp 236.20 02/21/2003 15921 11/05/2002 76.99 0.00 1,411.00 Sina Corp 9,639.37 02/21/2003 3,253.50 08127/2002 6,38587 0.00 112.C4) Sina Corp 765 .14 02/21/2003 286.72 08/30/2002 47842 000 660.00 Activcard Corp 4,594.78 02/24/2003 5,888.32 11/15/2002 (1,293 .54) 000 627 .00 Activcard Corp 4,365.04 02/24/2003 5,582.68 11/1V2002 (1,217 .64) 000 1,764.00 AsiaInfo Holdings Inc 6,694.72 02/2412003 9,124.25 11/15/2002 (2,439 .53) 0.00 1,523.00 Tle Bombay Company Inc. 6,669.02 02/24/2003 8,740.78 01/13/2003 (2,071 .76) 0.00 170.00 linax Corp 541 .72 02/24/2003 985.46 09/1112002 (443 .74) 0.00 592 .00 Imax Corp 1,886.48 02/24/2003 3,545.43 09/16/2002 (1,658 .95) 0.00 312 .00 Nam Tai Electronics Inc 8,078.05 02r2412003 6,610.34 11/13/2002 1,467.71 0.00 30-00 Netsmart Tech Inc 126 .29 02124/2003 208.50 11/2612002 (82 .21) 0.00 483.00 Primus Telecommun Grp 923.11 02t2412003 625 .18 11/05/2002 297 .93 0.00 1,607.00 IlestreeLcorn lac: 4,067.62 02r24/2003 5,260.11 11/13/2002 (1,192.49) 000 822.00 Activcard Corp 5,652.55 02/2512003 6,297.59 10/21/2002 (645.04) 0.00 344.00 Activcard Corp 2,365.54 02/25/2003 2,610.96 10/22/2002 (245 .42) 0.00 222.00 Activcard Corp 1,52660 02/25/2003 1,97664 11/1812002 (450.04) 0.00 855-00 Applied Films Corp. 12,268 .11 02/25/2003 11,398 .69 10/18/2002 869 .42 0.00 156.00 Applied Films Corp. 2,238.39 02/25/2003 2,597.40 11/15/2002 (359.01) 000 185.00 Altins Inc 2,426.09 02125/2003 2,009.30 09/1312OD2 416 .79 0.00 45.00 Altifis Inc 59013 02/25/2003 488.25 09/17/2002 101 .88 0.00 912.00 Altiris Inc 11,959.97 02125/2003 9,887.27 10/15/2002 2,072.70 0.00 183.00 'Me Bombay Company Inc. 838.19 02125/2003 1,004.98 01/09/2003 (166 .79) 000 767 .00 'Me Bombay Company Inc. 3,513.07 02/25/2003 4,401 .96 01/13/2003 (888 .89) 0.00 849 .00 EUniverse Inc 4,46203 02/25/2003 4,42306 12/10/2002 38.97 0.00 381-00 Hancock Fabrics Inc. 6,15349 02/25/2003 6,730.67 01/08/2003 (577 .18) 0.00 791 .00 Imax Corp 2,54899 02r25/2003 4,585.27 09/11/2002 (2,03628) 000 351 .00 Imax Corp 1,131.09 02/25/2003 1,533.37 01/1512003 (402 .28) 0.00 226.00 LCI Ind 4.040.37 02/25/2003 4,61329 01/23/2003 (572 .92) 0.00 498-00 Netsmart Tech Inc 1,994.48 02/25/2003 2,631.43 10/15/2002 (636 .95) 0.00 195 .00 Netsmart Tech Inc 78097 02/25/2003 1,355.25 11/26/2002 (574 .28) 0.00 115 .00 Nutraceutical Ind. Corp. 994.10 02/25/2003 952.20 08/19/2002 41 .90 0.00 385.00 Nutraceutical Intl . Corp. 3,328.06 02125/2003 4,395.81 12/30/2002 (1,067.75) 0.00 4297 .00 Tha hes treeLcom, ine 7 397 .80 0-2r451-2.003 971 2.15 1 1/13/70022 (232355) 0.00

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D,riehaus Capital Management Friday January 23, 2004 16:56:36 Page 13 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

758.00 Ile Bombay Company Inc 3,329.25 02126/2003 4,162.70 01/0912003 (833 .45) 000 314.00 EUm verse Inc 1,637.76 02/2612003 1,635.85 12/10/2002 1.91 0.00 764.00 Hancock Fabrics Inc 10,991 .33 02/26/2003 13,49667 01/08/2003 (2,505 .34) 0.00 96.00 LCI Intl 1,708.07 02126/2003 1,126.10 10/30/2002 581 .97 000 58.00 LCIInd 1,031 .96 OW&2003 718.16 10/31/2002 31380 0.00 51.00 LCI Intl 907.41 0212612003 1,041 .05 01/23/2003 (133 .64) 000 406.00 Emerson Radio Corp 2,527.31 02126t2003 1,716.18 1 I/26t2002 811 .13 000 535 .00 Emerson Radio Corp 3,330.33 02/26t2003 2,475.64 11/27/2002 854.69 0.00 248.00 Emerson Radio Corp 1,543.78 0212612003 1,525.52 01/09/2003 18.26 000 55400 Netsmart Tech Inc 2,144.60 02/2612003 2,927.34 10/15/2002 (782 .74) 000 246.00 Netsmart Tech Inc 952.29 0212612003 1,290.05 10/16t2OO2 (337 .76) 0.00 468.00 Primus Telecommun Grp 843 01 02/26t2003 605 .76 11/05/2002 237 .25 0.00 57800 'Me Bombay Company Inc. 2,688.25 02/27/2003 3,174.20 01/09/2003 (485 .95) 000 6900 EUtuverse Inc 348 .51 02/2712003 359 .47 12/10/2002 (1096) 0.00 501 .00 Pnmus Telecommun Grp 852 .53 02/27/2003 648 .48 11/05/2002 20405 0.00 224.00 Umted Online Inc 3,178.71 02/2712003 3,04037 08/20/2002 138.34 0.00 118.00 Umted Online Inc 1,674.50 02/27/2003 1,72620 11/14/2002 (51 .70) 000 115.00 EUmverse Inc 564.24 0=8/2003 59912 12/10t2002 (34 .88) 0.00 2,269.00 Primus Telecommun Grp 3,75886 02/2&'2003 2,936.92 11/0512002 82194 0.00 593.00 United Online Inc 8,357.90 02/2812003 8,048.85 08/20/2002 309.05 0.00 178 .00 Ask Jeeves Inc 1,224.62 03/0312003 1,227.86 02/19/2003 (3.24) 0.00 101 .00 Altins Inc 1,287.71 03/03/2003 1,005.21 08/30/2002 282.50 0.00 89.00 Aluns Inc 1,134.71 03/03/2003 96488 10115/2002 16983 0.00 136 .00 Brigham Exploration Co 74933 03103/2003 792.00 01121/2003 (42 .67) 0.00 963.00 CollaGenex Pharmaceuticals 8,291 .17 03/03/2003 8,719.77 11/20/2002 (428 .60) 000 150 .00 CollaGenex Pharmaceuticals 1,291 .46 03/03/2003 1,433.79 11/21/2002 (142 .33) 0.00 63.00 Eresearch Technology Inc. 1,358.23 03/03/2003 1,481.88 02/21/2003 (123 .65) 0.00 3600 EUmverse Inc 17660 03/03/2003 187.55 12/1012002 (10.95) 0.00 604.00 Harvest Natural Resources 3,261 .02 03/03/2003 3,879.19 02114/2003 (618 .17) 0.00 916.00 Internet Gold-Golden Unes 2,425.19 03/03/2003 2,614.87 01/22/2003 (189 .68) 0.00 54.00 Marvel Enterprises Inc. 615.70 03/0312003 43279 10/2512002 182 .91 0.00 23.00 Marvel Enterprises Inc. 262.24 03/03/2003 184 .78 10/28/2002 77 .46 0.00 381 .00 On Technology Corp 990.28 03/03/2003 1,537.03 02/04/2003 (54675) 0.00 1,121.00 On Technology Corp 2,91364 03/03/2003 4,526.20 02105/2003 (1,612.56) 0.00 1,66000 Primus Telecommun Grp 2,542.22 03103/2003 2,14865 11/05/2002 393 .57 0.00 89.00 Select Comfort Corp . 924.68 03/03/2003 599.85 10/03/2002 324 .83 0.00 249.00 Sina Corp 1,53481 03/03/2003 574.15 08/27/2002 960 .66 0.00 281.00 SunOpta Inc 935.70 03/03/2003 1,073.17 02/25/2003 (137 .47) 000 815.00 United Online Inc 11,447 .47 03/03/2003 11,062 .08 08/20/2002 385 .39 000 258.00 Altins Inc 3,170.72 03/04/2003 2,567.77 08/3012002 60295 000 139 .00 EUniverse Inc 631 .28 03/04/2003 724.15 12/10t2002 (92.87) 0.00 77.00 First Cash Finl Svcs Inc 695.28 03/04/2003 855.34 12/17/2002 (160.06) 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 14 Gains and Loss Reportfi-om 1110112002 to 1013112003 Accouni.*06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Unmortized Bond Ouand Security Description Proceeds Date Coqt Date Gain (- Loss) Premium Discount)

811 .00 GTS I Corp 7,217.68 03/04/2003 8,103 11 08/13/2002 (885 .43) 0.00 264-00 Harvest Natural Resources 1,255.52 03/04/2003 1,398.80 09/23/2002 (14328) 0.00 326.00 Harvest Natural Resources 1,55038 03/04/2003 2,093.73 02/14/2003 (543 .35) 000 291 .00 Harvest Natural Resources 1,38392 03/0412003 1,85501 02/18/2003 (471 .09) 0.00 2,899.00 Internet Gold-Golden Unes 7,482.69 03/04/2003 8,27567 01/2212003 (79298) 0.00 153-00 Garden Fresh Restaurant 1,44121 03/04/2003 2,040.30 04/25/2002 (59909) 000 418.00, Netease com Inc. ADR 4,624.53 03/04/2003 1.931 11 11/05/2002 2,693.42 000 767-00 Netease corn Inc. ADR 8,485.67 03/04/2003 4,572.43 11/06/2002 3,913.24 0.00 726 .00 Netease.com Inc. ADR 8,03207 03/0412003 11,239.42 02/2612003 (3,207 .35) 0.00 227 .00 Netsmart Tech Inc 863 .23 03/0412003 981 .49 09/27/2002 (118 .26) 0.00 430-00 Netsmart Tech Inc 1,635.20 03/0412003 2,137.75 1010212002 (502 .55) 000 141 .00 Netsmart Tech Inc 536 .19 03/04/2003 739.42 10/1612002 (203 .23) 0.00 266 .00 Overstock.com Inc 3,655.34 03/04/2003 4,23046 01/14/2003 (575 12) 0.00 495.,~-,l Overstock.com Inc 6,802.23 03/04/2003 9,01004 02/24/2003 (2,207 .81) 0.00 652-00 Primus Telecommun Grp 1,019-40 03/0412003 843.93 11/05/2002 175 .47 0.00 76000 Sohn com Inc. 5,919.38 03/04/2003 6,407.64 02/18/2003 (488 .26) 0.00 760.00 Sohn com Inc. 5,919.38 03/04/2003 7,287.87 0212612003 (1,368 .49) 0.00 392 .00 Starcraft Corp 4,192.32 03/0412003 4,93782 01/2912003 (745 .50) 0.00 1,450.00 Thestreetcom Inc 3,365.69 03/04/2003 4,746.21 11/13/2002 (1,38052) 000 231 .00 United Online Inc 3,162.08 03/0412003 3,13539 08/20/2002 2669 0.00 138-00 America Service Group Inc. 1,640.77 03/05/2003 2,13762 12119/2002 (496 .85) 0.00 372 .00 Altiris Inc 4,437.08 03/0512003 3,702.37 08/30/2002 73471 0.00 2,765-00 E-Loan Inc. 5,877.24 03/05/2003 5,77640 12/02/2002 100.84 0.00 116-00 First Cash Fin]. Svcs Inc 1,020.76 03105nM3 1,28856 12117/2002 (267 .90) 0.00 781-00 GTSI Corp 6,867.04 03/05/2003 7,803.36 08/13/2002 (936 .32) 0.00 341 ME Harvest Natural Resources 1,671 .36 03/05/2003 1,681.85 0412212002 (10 .49) 0.00 533-00 Harvest Nattual Resources 2,61241 03/05/2003 2,824.09 09123/2002 (211 .68) 0.00 548-00 Garden Fresh Restaurant 5,039-25 03/05/2003 7,307.74 04/25/2002 (2,268 .49) 0.00 239.00 Netsmart Tech Inc 869 .93 03/05/2003 1,033.38 09/27/2002 (163 .45) 000 13.00 Portfolio Recovery Associate 289.35 03/05/2003 225 .04 11/15/2002 64.31 0.00 243.00 Portfoho Recovery Associate 5,408.67 03/05/2003 4,419.61 11/18/2002 989.06 0.00 745.00 Range Resources Corp 3,834.55 03/05/2003 4,649.17 02/24/2003 (81462) 0.00 139.00 Range Resources Corp 715.44 03/0512003 84095 02/2612003 (125 .51) 0.00 553 .00 Select Comfort Corp. 5,32899 03/05/2003 3,16007 07/09/2002 2,168.92 000 961 .00 Select Comfort Corp. 9,260.68 03/0512003 6.477 .04 10/03/2002 2,783.64 0.00 191-00 Starcraft Corp 2,091 .38 03/05/2003 2,468.91 01/29/2003 (377 .53) 0.00 254.00 Ilestreet com Inc 591 .65 03/05/2003 831 .40 11/13/2002 (239 .75) 0.00 461 .00 'Mestreet-corn Inc 1,073.82 03/05/2003 1,52328 11/21/2002 (44946) 0.00 63.00 United Online Inc 852.26 03/05/2003 855 .11 08/2012002 (2 .85) 0.00 762 .00 Able Uboratories Inc 8,887.85 0310612003 8,045.50 1210512002 942.35 0.00 24.00 America Service Group Inc. 283.31 03/06t2OO3 31608 07/30/2002 (32 .77) 0.00 37500 Amenrins Semic.- Group kc. 4,426.74 03!06,12003 4,906. A I 09101/2002 (479 .69) 0.00

0 0 0 0 0 0 0 0 0 0 Dfiehaus Capital Management Friday January 23, 2004 16:56:36 Page 15 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHA US FOUNDA TION-MICROCAP

Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

449.00 America Service Group Inc. 5,30028 03/06/2003 6,95501 12/19/2002 (1,654 .73) 0.00 1,110.00 Ask Jeeves Inc 6,207.92 03/0612003 5,546.19 01/29/2003 661.73 0.00 59000 Ask Jeeves Inc 3,299.70 03/0612003 3,680.89 02/14/2003 (381 .19) 0.00 756.00 Ask Jeeves Inc 4,228.09 03/0612003 4,941.67 02/1&'2003 (713 .58) 0.00 590.00 Ask Jeeves Inc 3,299.70 03/0612003 4,069.88 02/19/2003 (770 .18) 0.00 93 .00 Altins Inc 1,069.26 03/0612003 92559 08/30/2002 143.67 000 1.00 Cash in Lieu - Short Terin 6.15 03/06/2003 0.00 03/06r2OO3 6.15 0.00 1,523.00 Cray,lnc 9,758.58 03/06/2003 5,98066 05/30/2002 3,777.92 0.00 202.00 Cray,lnc 1,294.31 03/0612003 1,62658 02124/2003 (332 .27) 0.00 739.00 Cray, Inc 4,735.12 03/06/2003 6,056.62 02/25/2003 (1,321 .50) 0.00 500.00 Cray, Inc 3,203.74 03/0612003 4,16305 02/2612003 (959 .31) 0 00 8200 Cray, Inc 525.41 03/06f2003 68804 O2t27/2003 (162 .63) 000 457.00 Digerie Corporation 7,593.92 03/06/2003 5,55077 02/04/2003 2,043.15 000 2,17400 E-Loan Inc. 4,585.12 03/0612003 4,541.74 12/02/2002 43 .38 0.00 785.00 First Cash Finl Svcs Inc 6,909.12 03/0612003 7,732.25 11/21/2002 (823 .13) 000 328.00 First Cash Finl Svcs Inc 2,886.87 03/0612003 3,309.52 11/22/2002 (422 .65) 000 82 .00 First Cash Firil Svcs Inc 721.72 03/06(2003 91088 12117/2002 (189 .16) 0.00 43700 Harvest Natural Resources 2,060.69 03/0612003 2,15534 04/2212002 (94.65) 000 687.00 Jos A Bank Clothiers Inc 14,831 .12 03/06/2003 7,371.51 03/12/2002 7,459.61 0.00 75 .00 Jos A Bank Clothiers Inc 1,619.12 03/06/2003 1,50827 08120/2002 110.85 000 781 .00 Garden Fresh Restaurant 7,028.31 03/06/2003 10,41487 04/25/2002 (3,38656) 000 1,051.00 Netsmart Tech Inc 3,948.00 03/06(2003 4,54427 09/27/2002 (596 .27) 000 97 .00 Portfolio Recovery Associate 2,177.10 03/0612003 1,64569 11/14/2002 531.41 000 262.00 Portfoho Recovery Associate 5,880.41 03/06/2003 4,535.38 11/15/2002 1,345.03 0.00 114.00 Starcraft Corp 1,268.78 03/06/2003 1,473.59 01/29/2003 (20481) 000 15 .00 United Online Inc 201.94 03/06/2003 20360 08/20(2002 (1 .66) 000 245.00 America Service Group Inc. 2,926.34 03/07/2003 3,20553 08/01/2002 (279 .19) 0.00 1 .00 Cash in Lieu - Short Terin 3.76 03/07/2003 0.00 03/07/2003 3.76 000 2,735.00 E-Loan Inc. 5,551.67 03/07/2003 5,71373 12/02/2002 (162 .06) 0.00 728.00 Harvest Natural Resources 3,250.41 03/07/2003 3,59058 04/2212002 (340 .17) 000 427.00 Ornruvision Technologies 7,556.00 03/07/2003 8,273.72 02/28/2003 (717 .72) 0.00 54600 Omni vision Technologies 9,661.78 03/07/2003 10,787 .65 03/03/2003 (1,125 .87) 0.00 15500 Omni vision Technologies 2,742.81 03/07/2003 3,052.71 03/0412003 (309 .90) 0.00 610.00 Starcraft Corp 6,115.06 03/07/2003 7,885.00 01129/2003 (1,769 .94) 000 321.00 Able Laboratories Inc 3,36221 03/10/2003 3,258.95 12102/2002 103.26 000 320.00 Able Laboratories Inc 3,351.74 03/1012003 3,378.69 12/05/2002 (2695) 000 15.00 Allied Defense Group Inc. 254.24 03/10/2003 342.03 03/11/2002 (87.79) 0.00 264.00 America Service Group Inc. 3,115.10 03/10/2003 3,45412 08/01/2002 (339 .02) 000 245.00 Harvest Natural Resources 1,172.26 03/10/2003 1,208.37 04122/2002 (36.11) 0 00 731.00 Imax Corp 2,901 .03 03/10/2003 3,19342 01/15/2003 (29239) 0.00 3,781.00 Looks mart Ltd 7,358.07 03/1 MOW 9,043.79 1112112002 (1,685.72) 0.00 759.00 LA)oks mart Ltd 1,477.06 03/10(2003 2,101 .82 12/16(2002 (624.76) 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 16 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantit Security Description Proceed Date Cost Date Gain (- Loss) Premium Discount) 22.00 Omnivision Technologies 391 .11 03/10/2003 426.28 02/28/2003 (35 .17) 0.00 1,228.00 Select Comfort Corp. 11,350.55 03/10/2003 7,017.30 07/0912002 4,333.25 0.00 3.00 United Online Inc 40.78 03/10/2003 4072 08/20/2002 0.06 0.00 11000 Able Laboratories Inc 1,16006 03/1112003 1,116.78 12/02/2002 4328 0.00 128 .00 Alhed Defense Group Inc. 2,170.21 03111 f2003 2,919.68 03111/2002 (749 .47) 0.00 771 .00 The Bombay Company Inc. 3,423.52 03/11/2003 4,234.09 01/09/2003 (810 .57) 0.00 1,99200 Imax Corp 7,868.72 03/11/2003 8,702.18 01/1512003 (833 .46) 0.00 1,042.00 Select Comfort Corp. 9,557.13 03/1 V2003 5,954.42 O7/O9f2OO2 3,602.71 0.00 915.00 Altins Inc 10,083 .63 03/12/2003 9,106.63 08/30/2002 977.00 0.00 137.00 Central European Distribution Corp. 3,251.83 03/12/2003 2,199.26 05102t2OO2 1,052.57 0.00 311 .00 Central European Distribution Corp. 7,381-99 03/1=003 4,559.63 11/13/2002 2,822.26 0.00 54200 Central European Distribution Corp. 12,864-90 03/12/2003 10,063 .21 12/17/2002 2,801.69 0.00 508.00 Central European Distribution Corp. 12,057 .88 03/12/2003 11,887 .20 01/15/2003 170.68 0.00 25.00 Central European Distribution Corp. 593 .40 03/12/2003 71475 02/03/2003 (121 .35) 0.00 481 .00 Select Comfort Corp 4,16745 03/12/2003 2,748.63 07/09/2002 1,418.82 0.00 1,033.00 Select Comfort Corp. 8,950.05 03/12/2003 5,890.63 09/1612002 3,059.42 0.00 135 .00 Able Laboratories Inc 1,582 15 03/13/2003 1,370.59 12/O7J2002 211 .56 0.00 447 .00 Cyberguard Corp 2,477.37 03/1&-2003 3,501.08 01/23/2003 (1,023 .71) 0.00 81 .00 Aceto Corp. 1,057.01 03/19/2003 897 .41 01/02/2003 159.60 0.00 21 .00 Central European Distribution Corp. 602.47 03/1912003 307 .89 11/13/2002 294.58 000 442.00 Cyberguard Corp 2,323.43 03/1912003 3,461.92 01/23/2003 (1,138 .49) 0.00 105,00 Cyberguard Corp 551 .94 03/19/2003 822 .40 01123/2003 (270.46) 0.00 103 .00 Cray, Inc 728 .18 03/19/2003 40447 05/30/2002 323.71 0.00 51 .00 Digene Corporation 891 .25 03/19/2003 619 .45 02/04f2OO3 261 .80 0.00 707.00 Innovex Inc. 3,701.24 03119/2003 4,954.80 03/03/2003 (1,253 .56) 0.00 3,345.00 Looksmart lid 6,680.18 03/19/2003 7,286.10 11/20/2002 (605 .92) 0.00 1,195.00 1,ooksmart Ud 2,386.49 03/19t2003 2,85833 11/21f2002 (471 .94) 0.00 1,202M Network Engines Inc 1,605.58 03/19/2003 2,320.93 01/24/2003 (715 .35) 0.00 346.00 Network Engines Inc 462.17 03/19/2003 678.05 01/2712003 (215 .88) 0.00 774.00 Nutraceutical Ind. Corp. 5,139.20 03/19/2003 6,40872 08/1912002 (1,269 .52) 0.00 111.00 Network Equipment Tech Inc 611 .13 03/19/2003 622.02 01/22/2003 (10 .89) 0.00 545.00 Online Resources Corp 1,418.11 03/1912003 2,199.47 11/1912002 (781 .36) 0.00 52200 Online Resources Corp 1,358.26 03/19/2003 2,045.70 11/21/2002 (687 .44) 0.00 192.00 Overstock.corn Inc 2,129.54 03/19/2003 3,053.57 01/1412003 (924 .03) 0.00 70.00 Overstock com Inc 776.39 03/1912003 1,113.28 01/14/2003 (33689) 0.00 38.00 Perry Elhs International 710.57 03/19/2003 756.41 02104/2003 (45 .84) 0.00 10400 Sportsman's Guide Inc. 812 .02 03/1912003 841 .36 02/20/2003 (29 .34) 0.00 76.00 Starcraft Corp 740.97 03/19/2003 982.39 01/29/2003 (241 .42) 0.00 86.00 Usana Inc 1 .617.61 03/1912003 1,043.18 1213112002 574.43 000 77000 Brightpoint Inc. 11,959 .27 03/20f2003 8,989.65 02/24f2003 3,069.62 0.00 40700 Cyberguard Corp 2,04010 03/2012003 3,187.79 01123/2003 (1,14769) 0.00 1.00 ftene Corpa.ration. 11 6.15 15 03,720=03 9 J80 12/18t2002 6.97 0.00

0 0 0 0 0 0 0 0 0 0 0 0 0 0

Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 17 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHA US FOUNDA TION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantity Seen ri tv Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

19800 Digene Corporation 3,276.60 03/20/2003 2,00677 12/20/2002 1,269.83 0.00 15300 Digene Corporation 2,531.92 03120/2003 1,64403 12123/2002 88789 0.00 40800 Digene Corporation 6,751.78 03/20/2003 4,955.61 02/0412003 1,796.17 0.00 381 .00 DICK S SPORTING GOODS INC 8,61795 03/2012003 8,477.25 02/19/2003 14070 0.00 1,116.00 Network Engines Inc 1,483.55 03/20/2003 2,15488 01/24/2003 (67133) 0.00 198 .00 Nutraceutical Intl Corp . 1,32081 03/20f2003 1,639.44 08/19/2002 (318 .63) 000 642-00 Online Resources Corp 1,618.82 03120/2003 2,497.79 11/20/2002 (878 .97) 000 308 .00 Online Resources Corp 77663 03/2012003 1,20704 11/21/2002 (43041) 0.00 52.00 Overstock .com Inc 56678 03120/2003 57668 11/22/2002 (9.90) 0.00 366-00 Overstock com Inc 3,989.27 03/2Ot2OO3 5,633.25 12/02t2002 (1,643 .98) 0.00 160 .00 Overstock .com Inc 1,74394 03/20/2003 2,54464 01/14/2003 (80070) 0.00 520.00 Usanalnc 9,749.70 03120/2003 5,51049 11/19/2002 4,239.21 0.00 240.00 Usanalnc 4,499.86 03/2Or2OO3 2,911.20 12/31/2002 1,588.66 000 273-00 Digene Corporation 4,226.51 03/21/2003 2,50636 12/17/2002 1,720.15 0.00 737-00 Digene Corporation 11,410.03 03/2112003 7,05913 12/18/2002 4,35090 000 131 .00 Digene Corporation 2,028.11 03/21/2003 1,251.76 12119/2002 776.35 0.00 335.00 DICK S SPORTING GOODS INC 7,294.50 03/21/2003 5,891.44 11/15/2002 1,40306 0.00 122 .00 DICK S SPORTING GOODS INC 2,656.50 03/21/2003 2,71450 02119/2003 (58 .00) 0.00 2,712.00 Harvest Natural Resources 11,709.02 03/21/2003 13,37591 04/2212002 (1,666.89) 0.00 28100 Online Resources Corp 70286 03/21/2003 1,093.27 11/20/2002 (390.41) 0.00 585-00 Ask Jeeves Inc 3,659.89 03/24/2003 3,996.08 03/13/2003 (336.19) 0.00 753.00 Brightpoint Inc. 12,00718 03/24/2003 8,693.39 02/24/2003 3,313.79 0.00 951.00 KCS Energy Inc. 2,171.18 03124/2003 2,79876 02/25/2003 (627 .58) 0.00 952.00 KCS Energy Inc. 2,173.47 03/24/2003 2,827.97 02/27/2003 (654.50) 0.00 1,533.00 Datatec Systems Inc 2,054.28 03/25/2003 2,593.96 12/12/2002 (539 .68) 0.00 285-00 DICK S SPORTING GOODS INC 6,257.02 03/25/2003 3,730.11 10116t2OO2 2,52691 0.00 19.00 DICK S SPORTING GOODS INC 417.13 03125/2003 33414 11/15/2002 82.99 0.00 304-00 Enterra Energy Trust 2,558.64 0312512003 2,063.34 12/13/2002 49530 0.00 478.00 Innovex Inc. 2,800.29 03/25/2003 3,057.62 01/29/2003 (257 .33) 000 938.00 Innovex Inc. 5,495.13 03125/2003 6,401.85 02104/2003 (90672) 000 103 .00 Innovex Inc 603 .41 03125/2003 721 .84 03/03/2003 (11843) 0.00 1,526.00 Neurobiological Technologies 9,125.24 03/25/2003 11,405 .78 01/1612003 (2,28054) 000 654-00 Online Resources Corp 1,64074 03/25/2003 2,54448 11/20/2002 (90374) 0.00 1,908-00 Pacific Internet Lid 7,749.89 03/25/2003 12,308 .13 01/21/2003 (4,558 .24) 000 229.00 Starcraft Corp 1,95980 03/25/2003 2,96011 01/29/2003 (1,000 .31) 0.00 341 .00 Usanalnc 6,281.40 03/25/2003 3,42207 10/28/2002 2,85933 0.00 191 .00 Usanainc 3,518.32 03/25/2003 2,02405 11/19/2002 1,494.27 0.00 443.00 Bioniann Pharmaceutical Inc 5,222.84 03/2612003 4,83406 03/1212003 388.78 0.00 31600 Biomarin Pharmaceutical Inc 3,725.54 03126/2003 3,724.98 03/IV2003 056 0.00 1,517.00 Datatec Systems Inc. 2,014.90 03/2612003 2,56688 12/12/2002 (551 .98) 0.00 508-OL, Datatec Systems Inc. 674.73 03/26/2003 868 .54 12/13/2002 (19381) 0.00 190.00 Datatec Systems Inc. 252 .36 03/2612003 32086 12117/2002 (68 .50) 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 18 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouant! ;. Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

61 .00 Datatec Systems Inc. 81.02 03/26/2003 92.72 12/18t2OO2 (11 .70) 0.00 1,33000 LCI Intl 16,30445 03/26/2003 10,404 .69 10/30/2002 5,89976 0.00 1,36100 NS Group Inc. 8,932.15 03/26/2003 10,13101 02/11/2003 (1,198 .86) 000 382.00 Neurobiological Technologies 2,242.28 03/2612003 2,855.18 01/16/2003 (612 .90) 0.00 1,096.00 Overstock corn Inc 12,277 .84 03/26/2003 12,15464 11/22/2002 123 .20 000 305.00 Starcraft Corp 2,70406 03/2612003 3,919.01 02/0412003 (1,214 .95) 0.00 147.00 Usana Inc 2,55665 03/2&2003 1,390.62 10/2212002 1,166.03 0.00 61200 Usanalric 10,6" 00 03/26/2003 6,14166 10/28/2002 4,502.34 000 840.00 Central European Distribution Corp. 20,825 .09 03/27/2003 12,31541 11/13/2002 8,509.68 000 216.00 Digene Corporation 3,334.95 03/2712003 1,98305 12117/2002 1,351.90 0.00 1,143.00 Sensytech Inc 10,526 .76 03/27/2003 12,214 .10 12118f2002 (1,687 .34) 000 35800 Sensytech Inc 3,297.09 03/27/2003 3,985.97 12/20/2002 (688.88) 000 1,528.00 Whitman Education Group Inc. 20,76407 03/27/2003 11,707 .84 12/3112002 9,05623 0.00 343.00 Whitman Education Group Inc. 4,661 .04 03127/2003 2,63805 02/04/2003 2,022.99 0.00 802.00 Whitman Education Group Inc. 10,898 .42 03/27/2003 6,673.12 02105/2003 4,225.30 0.00 466.00 Digene Corporation 7,196.76 03/28/2003 4,278.25 12tl7/2002 2,918.51 0.00 385 .00 Ommvision Technologies 8,077.48 03/28/2003 7,459.91 02/28/2003 617 .57 000 761 .00 Omnivision Technologies 15,96614 03128/2003 15,517 .86 03/1V2003 "8 .28 0.00 363.00 Central European Distribution Corp. 8,316.11 03/31/2003 5,322.02 11/13/2002 2,99409 000 97.00 Digene Corporation 1,519.00 03/3112003 89054 12/17/2002 628 .46 0.00 537 .00 FINDWHAT.COM 5,343.01 03/31/2003 5,178.72 03/13/2003 164.29 0.00 427 .00 Overstock.corn Inc 4,134.70 03/31/2003 4,735.43 11/2212002 (600.73) 0.00 493 .00 Packeteer Inc 4,515.37 03/31/2003 4,851 .07 03/07/2003 (335.70) 0.00 526.00 Rainbow Technologies Inc. 4,826.03 03/3112003 5,02656 03/14/2003 (200.53) 000 67.00 Applied Signal Technology 957.84 04/01/2003 88031 02/25/2003 77 .53 0.00 86.00 Ask Jeeves Inc 583.05 04101/2003 587.46 03113/2003 (441) 000 98.00 Biolase Tech Inc 778.74 04101/2003 789.43 03/0712003 (10.69) 0.00 33.00 Biomanm Pharmaceutical Inc 368.59 04101/2003 360.10 03/12t2OO3 8.49 000 80.00 Back Yard Burgers Inc 375.98 04101/2003 834.40 05/24/2002 (458.42) 0.00 68.00 Central European Distribution Corp. 1,590.21 04/01/2003 822.80 04116/2002 767 .41 0.00 102 .00 Central European Distribution Corp. 2,385.31 04/01/2003 1,495.44 11/13/2002 889 .87 0.00 136 .00 Concur Technologies Inc. 681 .32 04/01/2003 717.98 03/31/2003 (36.66) 0.00 22.00 Eresearch Technology Inc. 589.13 04/01/2003 599.46 04/01/2003 (10.33) 0.00 33.00 Exactech Inc 390.70 04/01/2003 390.39 11/05/2002 0.31 0.00 73.00 FINDWHAT.COM 77182 04/01/2003 704.00 03/1312003 67.82 0.00 54.00 Gevity Hr Inc 361 .24 04/01/2003 301 .23 02/05/2003 60.01 0.00 67.Ob Innovex Inc. 428.77 04/01/2003 428.58 01129/2003 0.19 0.00 28.00 Loehmanns Holdings Inc 432.57 04/01/2003 467.88 01/07/2003 (35 .31) 0.00 60.00 Maxcor Fml Group Inc 405.58 04/01/2003 45600 01/07/2003 (50 .42) 0.00 55.00 Marvel Enterprises Inc. 759.52 04/01/2003 44080 10/25/2002 318 .72 0.00 50.00 Netease com Inc. ADR 738.46 04/01/2003 602.48 03/13/2003 135 .98 0.00 93.00 OxbiW S,-ieuces Corp ~48 1. 8 0 0410111CM3 49.043 01r.32r.003 (16 .63) 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Descrit)tion ftoceeds Date C28 Date Gain (- Loss) Premium Discount)

22.00 Portfolio Recovery Associate 498 .67 04/01/2003 373.25 11/14/2002 125 .42 0.00 523 .00 Rainbow Technologies Inc. 4,86440 0410112003 4,981.58 03/13/2003 (117.18) 0.00 90.00 Rainbow Technologies Inc. 837 .09 04/01/2003 86006 03/14/2003 (22 .97) 000 383.00 Rural / Metro Corp 345 .48 04101/2003 1,370.36 05/29/2002 (1,024 .88) 000 42.00 Sohu com Inc. 455 .67 04/01/2003 45722 0312612003 (1 .55) 0.00 39.00 Stratasys Inc 51497 04/01f2003 480.86 03/21/2003 3401 0.00 105.00 SunOpta Inc 402-13 04/01/2003 401 .01 02/25/2003 1.12 0.00 30.00 Tripath Imaging Inc. 116.99 0410112003 132 .71 03/21/2003 (15 .72) 000 43.00 Vital Images Inc 540.48 04/01/2003 52890 03/2512003 11.58 0.00 87.00 FINDWHAT.COM 829 .07 04/02/2003 793.87 03/07/2003 3520 000 438.00 FINDWHAT.COM 4,173.94 04/02/2003 4,223.98 0311312003 (50 .04) 0.00 480.00 FINDWHAT.COM 4,574.18 04/02/2003 4,519.82 03/1412003 54.36 0.00 390.00 Hi-Tech Pharmacal, Co. Inc. 9,662.49 04/O2f2OO3 6,84809 03/l4f2003 2,814.40 0.00 280-00 Hi-Tech Pharmacal Co Inc. 6,937.17 04/02/2003 5,094.91 03/17/2003 1,842.26 0.00 180-00 Marvel Enterprises Inc 2,471.48 04/02/2003 1,308.73 10(02/2002 1,162.75 0.00 579 .00 Marvel Enterprises Inc. 7,949.93 04/02f2003 4,640.45 10f25/2002 3,309.48 0.00 458 .00 Orbital Sciences Corp 2,33068 04/0212003 2,37718 01/15/2003 (46 .50) 0.00 2,19700 Orbital Sciences Corp 11,180.12 04102/2003 11,77466 01123/2003 (594-54) 0.00 623.00 Rural / Metro Corp 581-08 04102/2003 2,229.07 05129/2002 (1,64799) 000 392.00 Tsakos Energy Navigation Ltd 4,857.55 WO2f2OO3 4,66040 12117f2OO2 197 15 0.00 493 .00 Tsakos Energy Navigation Ltd 6,269.04 04102/2003 6,303.79 12/18/2002 (34-75) 0.00 269 .00 Tsakos Energy Navigation Ltd 3,42063 04/0212003 3,72947 12/20/2002 (30884) 0.00 604.00 Exult Inc 4,107.00 O4/O3f2OO3 3,645.62 02/21f2003 461 .39 0.00 527 .00 Exult Inc 3,583.43 04103/2003 3,346.29 02/2412003 237 .14 0.00 392.00 Exult Inc 2,665.47 04/03/2003 2,494.45 02/25/2003 171 .02 0.00 99.00 Hi-Tech Pharmacal Co. Inc. 2,60898 04/03/2003 1,738.36 03/1412003 87062 0.00 2,595.00 Orbital Sciences Corp 12,370 .97 0410312003 13,468 .98 01/1512003 (1,09801) 0.00 112-00 Hi-Tech Pharmacal Co. Inc. 3,039.05 04/04/2003 1,175.07 10/11/2002 1,86398 0.00 267-00 Hi-Tech Pharmacal Co. Inc. 7,24489 04/0V2003 4,688.31 03/14/2003 2,55658 0.00 87 00 Loebmanns Holdings Inc 1,309-69 0410412003 1,453.77 01/07f2003 (144.09) 0.00 371-00 Loehmanns Holdings Inc 5,584.99 04/04/2003 6,183.35 01/08/2003 (59836) 0.00 687-00 Pharrr-anctics Inc 4,71355 04/0412003 6,795 19 01/16/2003 (2,081 .64) 000 114.00 Pharmanetics Inc 782 .16 04/04/2003 1,18834 02/20/2003 (406 .18) 000 1,614-00 Rural / Metro Corp 1,367.04 04/04/2003 5,77483 05/29/2002 (4,407 .79) 0.00 91.00 Tsakos Energy Navigation Lid 1,15427 0410412003 1,11020 12/17/2002 44.07 0 00 75800 UsanaLnc 16,616.62 04/04/2003 7,170.68 10122/2002 9,44594 0.00 1,143.00 Daktronics Inc. 16,774.10 04108/2003 19,221 .26 02120/2003 (2,447-16) 0.00 15.00 Digenc Corporation 298 .48 04/0&'2003 137 .71 12/17/2002 160 .77 0.00 31.00 Group I Software Inc. 460.60 04/08/2003 556.88 03/25/2003 (96 .28) 0.00 88600 Group I Software Inc. 13,164.27 04/0812003 17,222 .60 O4/O2f2OO3 (4,05833) 0.00 2,285-00 KCS Energy Inc. 5,510.95 04/0812003 6,724.68 02/25/2003 (1,213-73) 0.00 696.00 Loehmann Holdings Inc 9,41351 04/08/2003 11,27520 12/11/2002 (1,861 .69) 0.00 Driehaus Capital Management Friday January 23, 2004 16.56:36 Page 20 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056501 -- RICHARD H. DRIEHA US FOUNDA TION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

201 .00 Lochmanns Holdings Inc 2,718.56 04108/2003 3,35001 01/08/2003 (631 .45) 0.00 157.00 Network Equipment Tech Inc 904.70 04/08/2003 747.79 11/13/2002 156 .91 0.00 481 .00 Network Equipment Tech Inc 2,771.73 04/0&-2003 2,37095 01/10/2003 400.78 0.00 120.00 Network Equipment Tech Inc 691.49 04/0V2003 67246 01/2212003 19 .03 0.00 608 .00 SS & C Tech Inc 7,101.89 04/08/2003 7,461.74 03/17/2003 (359 .85) 0.00 95.00 Starcraft Corp 941.40 04/0812003 1,22068 0210412003 (279 .28) 0.00 762 .00 Tradestation Group Inc 2,789.50 04/08/2003 2,09837 03/19/2003 691 .13 0.00 117.00 Usana Inc 2,611.77 04/08/2003 1,063.64 10/17/2002 1,548.13 0.00 516 .00 Usana Inc 11,518 .59 04/08/2003 4,798.80 10/21/2002 6,719.79 0.00 127.00 Usana Inc 2,835.00 04/08/2003 1,201 .42 10/22/2002 1,633.58 0.00 761 .00 KCS Energy Inc. 1,814.98 04/09/2003 2,239.60 02125/2003 (42462) 0.00 1,514.00 Network Equipment Tech Inc 8,519.02 04/09/2003 7,211 .17 11/13/2002 1,307.85 0.00 137.00 Tsakos Energy Navigation Ltd 1,794.61 04/09/2003 1,671 .40 12/17/2002 123 .21 0.00 151.W Group I Software Inc. 2,26081 04/10/2003 2,712.56 03/2512003 (451 .75) 0.00 153.00 Tsakos Energy Navigation Ltd 1,990.43 04110/2003 1,86660 12/17/2002 123 .83 0.00 1,143.00 Exult Inc 7,371.99 04/11/2003 6,898.92 02121/2003 473.07 0.00 1,337.00 Group I Software Inc. 19,459 .25 04/11/2003 24,017 .87 03/25/2003 (4,558 .62) 0.00 38000 Emerson Radio Corp 2,476.26 04/11/2003 1,606.28 11/26(2002 869.98 0.00 761 .00 Emerson Radio Corp 4,959.04 04111/2003 5,698.90 03/05/2003 (73986) 0.00 644 .00 Portfolio Recovery Associate 13,909 .74 04/1112003 10,926 .04 11/1412002 2,983.70 0.00 1,137.00 Biolase Tech Inc 10,232 .51 04/1412003 9,158.99 03/0712003 1,073.52 0.00 1,762.00 Biornarm Pharmaceutical Inc 19,520.27 04/14/2003 18,869 .79 03/0712003 650.48 0.00 127 .00 Biomarin Pharmaceutical Inc 1,406.97 04/14/2003 1,385.84 03/12/2003 21 .13 0.00 1,145.00 FINDVMAT .COM 12,341 .82 04/1412003 10,448 .01 03/07/2003 1,893.81 0.00 532.00 Hi-Tech Pharmacal Co Inc. 15,382 .42 04/1412003 5,581 .58 10111/2002 9,800.84 0.00 1,137.00 Emerson Radio Corp 7,288.62 04/14/2003 4,806.16 11/2612002 2,482.46 000 381 .00 Natural Alternatives Intl . 1,443.92 04/1412003 1,732.56 01/15/2003 (288 .64) 0.00 962.00 Rainbow Technologies Inc. 9,33489 04/14/2003 9,163.05 03/13/2003 171 .84 0.00 56.00 Aceto Corp . 885 .87 04115/2003 890.39 04/14/2003 (4.52) 0.00 59.00 Acres Gaming Inc. 469.02 04/15/2003 467.02 04/0212003 2.00 0.00 24.00 Boston Communications Gr 369.10 04/15/2003 391 .86 03126/2003 (22 .76) 000 50.00 Chronimed Inc. 411 .48 04/15/2003 462.24 03/1412003 (50 .76) 0.00 56.00 Cray, Inc 401 .50 04/15/2003 219.91 05130r2002 181 .59 000 4400 DICK S SPORTING GOODS INC 1,11094 04/1512003 1,085.63 04/01/2003 25.31 0.00 1,132.00 Digitalihink Inc 2,81980 04/15/2003 3,452.85 04/02/2003 (633 .05) 0.00 26.00 Eresearch Technology Inc. 72607 04/15/2003 708 .45 04/01/2003 17.62 0.00 15100 Eresearch Technology Inc. 4,216.82 04/1512003 3,436.43 02120/2003 780.39 0.00 46.00 Eresearch Technology Inc. 1,284.60 04/15/2003 1,082.01 02/21/2003 202.59 000 333 .00 Eresearch Technology Inc. 9,299.35 04/15/2003 9,073.58 04/0112003 225 .77 0.00 87200 Firstwave Technologies Inc. 16,340 .51 04/15/2003 16,786.78 04110/2003 (446 .27) 0.00 28.00 FINDWHAT.COM 305.74 04/15/2003 255 .50 03/07/2003 50.24 000 34.00 Jos A Bank Clothiers Inc 980.51 "M2003 967 .30 04/1 W2003 13.21 O.On

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Sale Purchase Realized Unamortized Bond Ouand Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

42.00 K V H Industries Inc 58041 04/15/2003 581 .05 04/14/2003 (0.64) 0.00 194.00 Leading Brands Inc 393 .00 04/15/2003 682.88 1 Ot 1 &12002 (289 .88) 000 211 .00 Leading Brands Inc 429.04 04/15/2003 696.58 IOtl5/2002 (267 .54) 0.00 1,233.00 Leading Brands Inc 2,507.12 04/15/2003 4,316.75 10117/2002 (1,80963) 0.00 121.00 Leading Brands Inc 246.04 04/15/2003 42592 10/18/2002 (179 .88) 0.00 32.00 Microstrategy Inc-Cl A 869.99 04/15/2003 750.92 03/13f2OO3 11907 000 381 .00 Microstrategy Inc-Cl A 10,358 .40 04/15/2003 8,94070 03/13/2003 1,417.70 0.00 36.00 Marvel Enterprises Inc. 54033 04115/2003 26175 1010212002 278 .58 000 2600 Netease com. Inc. ADR 513.21 04/15/2003 505.16 04/11/2003 8.05 000 44.00 Omnivision Technologies 1,098.95 04/15/2003 1,104.78 04115/2003 (5.83) 0.00 50.00 Sciclone Pharmaceuticals Inc. 323.98 04/15/2003 329 .68 04/10/2003 (5.70) 0.00 50.00 Select Comfort Corp 505.63 04/15/2003 285 .12 09/1612002 22051 000 48.00 Sportsman's Guide Inc 455.97 04/15/2003 38832 02120/2003 67 65 0.00 28 nO Sohn com Inc. 367.24 04/15/2003 30481 03/2612003 62 .43 000 37.00 Synovis Life Technologies Inc 489.85 04/15/2003 408.21 03/13/2003 81 .64 0.00 379.00 Tollgrade Communications 4,922.98 0411512003 5,904.06 04/0812003 (981 .08) 0.00 250.00 Tollgrade Communications 3,24735 04/15/2003 3,862.50 04/09/2003 (615 .15) 0.00 53.00 Tollgrade Communications 688.44 04/15/2003 761 .08 04/11/2003 (72.64) 0.00 26.00 Usarialric: 619.03 04/15/2003 236.36 1 Ot 17/2002 382.67 0.00 379.00 Applied Signal Technology 5,245.11 04/16f2003 4,979.64 02/2512003 26547 0.00 284.00 Ask Jeeves; Inc 2,476.94 04/16t2003 1,419.03 01/29/2003 1,057.81 0.00 1,232.00 Ask Jeeves Inc 10,744 .62 04/16t2003 8,415.67 03/13/2003 2,328.95 0.00 1,090.00 Digitalthink Inc 2,641.44 04/16t2003 3,324.74 04/02/2003 (683 .30) 000 579.00 Leading Brands Inc 1,156.22 04/1612003 1,911.47 lOtl5/2002 (755 .25) 0.00 902.00 Emerson Radio Corp 5,809.86 04/16t2003 3,81280 11/26(2002 1,997.06 0.00 48.00 PC - Tel Inc 460.11 04/1612003 476.38 04/01/2003 (16 .27) 0.00 710.uO PC - Tel Inc. 6,805.80 04/1612003 7,235.33 04/02/2003 (429 .53) 0.00 255.00 Synovis Life Technologies Inc 3,438.87 04/16/2003 2,76389 03/1212003 674.98 000 464-00 Synovis Life Technologies Inc 6,257.39 04/16/2003 5,11922 03/13/2003 1,138.17 0.00 39-00 Synovis Life Technologies Inc 525 .94 04/1612003 42510 03/17/2003 100.84 0.00 379.00 Applied Signal Technology 5,086.05 04/17/2003 4,979.64 02/25/2003 10641 0.00 247.00 Cyberguard Corp 1,409.61 04/17/2003 1,67054 12/1712002 (260 .93) 0.00 2,287.00 Cyberguard Corp 13,051 .71 04/17/2003 16,21689 01/07/2003 (3,165 .18) 0.00 124 .00 Cyberguard Corp 707 .66 04/17/2003 971 .22 01/23/2003 (263 .56) 000 436.00 Digitalthink Inc 1,053 16 04/17/2003 1,329.89 04/0212003 (276 .73) 000 377.00 Erescarch Technology Inc. 9,997.57 04/17/2003 8,579.69 02/20/2003 1,41788 000 5.00 Leading Brands Inc 10.21 04/17/2003 14 .83 09/25/2002 (4.62) 0.00 454.00 Leading Brand~ Inc 927 .37 04/17/2003 1,466.65 IW1412002 (539 .28) 0.00 217.00 Leading Brands Inc 443 .26 04/17/2003 716.39 10/15/2002 (273 .13) 0.00 309.00 Leading Brands Inc 631 .18 04/17/2003 1,003.23 10/1612002 (372 .05) 000 1,401 .00 Emerson Radio Corp 8,412.88 04/17/2003 5,922.10 1112612002 2,490.78 0.00 380-00 Sina Corp 3,826.41 04/17/2003 4,073.60 04/1612003 (247 .19) 0.00 Driehau.s Capital Management Friday January 23, 2004 16:56:36 Page 22 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Unarnortized Bond Ouantity Security Descrintio Proceeds Date Cost Date Gain (- Loss) Premium Discount)

488.00 Cray,Inc 3,799.13 04/21/2003 1,916.32 05/30/2002 1,882.81 0 00 338.00 Emerson Radio Corp 2,040.91 04/21/2003 1,42874 11/26/2002 612 .17 000 379.00 Netease corn Inc. ADR 8,462.67 04/21/2003 7,363.70 04/11/2003 1,09897 0.00 303.00. Ross Systems Inc. 3,516.90 04/21/2003 3,77235 01123/2003 (255 .45) 000 758.00 Stratasys Inc 14,151 .19 0412112003 9,591.81 03/21/2003 4,55938 0.00 599.00 J2 GLOBAL COMMUNICATIONS INC 18,633 .47 04/22t2003 19,37082 04/02/2003 (737 .35) 000 206.00 Emerson Radio Corp 1,253.72 04/2212003 870.77 11/2612002 382 .95 000 758.00 Marvel Enterprises Inc. 12,139 .17 04/22/2003 5,511.19 1010212002 6,627.98 000 421 .00 Netease com Inc. ADR 9,007.29 04/22/2003 8,17974 04111/2003 827 .55 000 758.00 Sohn com Inc. 10,32150 04/22/2003 8,251.74 0312612003 2,06976 0.00 1,756.00 Ask Jeeves; Inc 15,529 .85 04/2312003 8,773.97 01/29/2003 6,755.88 0.00 159.00 12 GLOBAL COMMUNICATIONS INC 4,623.13 04/23/2003 5,141.84 04/0212003 (51871) 000 480.00 Emerson Radio Corp 3,027.74 04/23/2003 2,028.99 11/26/2002 998 .75 0.00 26.00 Netease .com Inc. ADR 549.61 04/23/2003 313 .29 03113/2003 236 .32 0.00 311 .00 Netease com Inc. ADR 6,574.23 04/23/2003 6,042.51 04/11/2003 531 .72 0.00 373.60 Stratasys Inc 8,491 .13 04/23/2003 4,293.90 02128/2003 4,197.23 0.00 347.00 Stratasys Inc 7,899.25 04123/2003 4,390.97 03/21/2003 3,508.28 0.00 1,425.00 Digitalthink Inc 3,519.57 04/24/2003 4,129.40 03/19/2003 (609.83) 0.00 376.00 Digitalthink Inc 928.67 04/2412003 1,146.88 04/0212003 (218 .21) 0.00 432.00 Eresearch Technology Inc. 13,175 .38 04/24/2003 9,31025 02/05/2003 3,865.13 0.00 288.00 Eresearch Technology Inc. 8,783.58 04/24/2003 6,554.25 02r2O/2003 2,229.33 0.00 222.00 Marvel Enterprises Inc. 3,440.84 04/24/2003 1,603.09 09/25/2002 1,837.75 0.00 859.00 Marvel Enterprises Inc. 13,313 .87 OVM003 6,245.53 10/02/2002 7,068.34 0.00 588.00 AT Road Inc 3,792.35 04/25/2003 4,177.56 04101/2003 (385 .21) 0.00 1,587.00 Harmonic Lightwaves Inc. 5,530.00 04/25/2003 7,776.51 04/14/2003 (2,24651) 0.00 496.00 Acres Gaming Inc. 4,364.59 04/28/2003 3,833.68 03/2&'2003 530.91 0.00 365 .00 Acres Gaming Inc. 3,211 .85 04/28/2003 2,83481 04/01/2003 377 .04 000 2.00 Acres Gaming Inc. 17.60 04128/2003 15 .83 04/02/2003 1 .77 0.00 833 .00 Atherogenics Inc 7,450.58 04/28/2003 7,61062 03/10/2003 (160.04) 0.00 651 .00 AT Road Inc 3,855.42 04/28/2003 4,62516 04101/2003 (76974) 000 1,079.00 Chrommed Inc. 8,653.16 04/28/2003 9,975.03 03/14/2003 (1,321 .87) 0.00 437.00 Digitaldunk Inc 1,048.61 04/28/2003 1,263.99 03/18/2003 (215 .38) 0.00 318 .00 Digitaldiink Inc 763.06 04/28/2003 921 .51 03/19/2003 (158 .45) 0.00 437.00 FINDV*rHAT.COM 4,776.18 04/28/2003 3,724.77 02105/2003 1,051.41 0.00 263.00 FINDWHAT .COM 2,874.45 04/28/2003 2,399.85 03/07/2003 474.60 000 379.00 FINDWHAT .COM 4,142.27 04128/2003 4,94595 04/17/2003 (803 .68) 000 503.00 Harmoiuc Lightwaves; Inc. 1,739.04 04/28/2003 2,464.77 04/14/2003 (725 .73) 000 12.00 Microstrategy Inc-Cl A 376.78 04/2&'2003 276.77 03/07/2003 100.01 0.00 348.00 Nficrostrategy Inc-C! A 10,926.75 04/28/2003 8,166.31 03/13/2003 2,76044 0.00 432.00 Ommvision Technologies 10,160.16 04/28/2003 10,846 .92 04/15/2003 (686 .76) 0.00 555.00 Stratasys Inc 11,767 .55 04/2812003 6,092.07 02/20/2003 5,675.48 0.00 165 .00 SuaEasys Inc 3,498.46 04/28/2003 1,899.45 02/228/200j 1,1-99.0.- 0 on

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Sale Purchase Realized Unamortized Bond Guantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

1,032.00 Westel Technologies Inc. - A 3,92383 04/28/2003 4,115.77 03/24/2003 (191 .94) 0.00 407.00 Westel Technologies Inc. - A 1,547.48 04/28/2003 1,765.57 03/25/2003 (218.09) 000 244.00 Yocream International Inc 1,266.29 04/28/2003 1,854.16 06/10/2002 (587.87) 0.00 477.00 AT Road Inc 2,821.12 0412912003 3,388.94 0410112003 (567 .82) 0.00 720.00 Cyberguard Corp 4,101.86 04/29/2003 4,869.58 12/17/2002 (767 .72) 0.00 1,535.00 Digitalthink Inc 3,641.32 04/29/2003 4,439.87 03/1812003 (798 .55) 000 449.00 Omw vision Technologies 10,73059 04/3=003 8,70000 02128f2003 2,030.59 0.00 55.00 Omw vision Technologies 1,31444 04/3012003 1,38097 04/15/2003 (6653) 0.00 707.00 Sciclone Pharmaceuticals Inc. 4,197.33 0413012003 4,301 .03 03/28/2003 (10370) 0.00 1,205.00 Sciclone Pharmaceuticals Inc 7,153.86 04/3012003 7,926.61 04/09/2003 (77275) 0.00 249.00 Sciclone Pharmaceuticals Inc. 1,478.27 045012003 1,641 .81 04/10/2003 (163 .54) 0.00 144.00 Yocrearn International Inc 741 .56 04/3012003 1,094.26 06110/2002 (352 .70) 0.00 743 .00 Cyberguard Corp 4,249.08 05/01/2003 4,953.14 12/16t2OO2 (704 .06) 0.00 1.00 Cyberguard Corp 5.72 05/01/2003 6.76 12/17/2002 (1.04) 0.00 1,801.00 Cray,inc 12,509 .51 05/0112003 7,072.34 05/30/2002 5,437.17 0.00 88.00 Evolving Systems Inc. 283.71 05/01/2003 280 .51 04/09/2003 320 000 1,511.00 Evolving Systems Inc. 4,871 .48 05/01/2003 5,08453 04/10/2003 (213 .05) 000 532.00 FINDWRAT.COM 5,67809 05/01/2003 3,959.30 12r2412002 1,718.79 0.00 794.00 FINDWHAT.COM 8,474.44 05/01/2003 6,767.66 02/05/2003 1,706.78 0.00 860.00 Marvel Enterprises Inc. 14,344 .12 05/01/2003 6,210.15 09/2512002 8,13397 0.00 550.00 Aceto Corp. 8,938.40 05/02/2003 8,299.72 04/1112003 638 .68 000 286.00 Aceto Corp . 4,647.97 05/02/2003 4,547.37 04114/2003 100-60 0.00 52.00 Biolase Tech Inc 632.81 05/02/2003 404.11 02/2712003 22870 0.00 669.00 Biolase Tech Inc 8,141 .41 05/02/2003 5,389.06 03/07/2003 2,75235 0.00 202.00 Cyberguard Corp 1,17081 05/02/2003 1,34661 12/16/2002 (175 .80) 000 84400 Digital think Inc 1,913.47 05/0212003 2,441 .21 03/1812003 (527.74) 0.00 222.00 FINDWHAT.COM 2,223.35 05/02/2003 1,65219 12124/2002 571 .16 0.00 360.00 Microstrategy Inc-Cl A 10,421 .51 05/02t2003 8,303.18 03/07/2003 2,118.33 0.00 335 .00 Synovis Life Technologies Inc 4,282.30 05/02/2003 3,631 .00 03/12/2003 651-30 0.00 648-00 Yocream International Inc 3,175.04 05/0212003 4,92415 06/10/2002 (1,749.11) 0.00 309.00 Atherogenics Inc 2,882.83 05/05/2003 2,823.15 03/1012003 59 .68 0.00 361 .00 Cyberguard Corp 2,112.03 05/0512003 2,406.57 12/16f2002 (294.54) 0.00 1,200.00 Cray,lnc 8,250.09 05/05/2003 4,71227 05/3012002 3,537.82 000 747 .00 Crayjnc 5,135.68 05/05/2003 2,95407 06103/2002 2,181.61 000 1,625.00 Digital Generation Systems 4,90868 05/0512003 3,909.25 03/18/2003 999 .43 000 339-00 Eresearch Technology Inc 11,18508 05/05/2003 7,305.96 02/05/2003 3,879 12 0.00 720.00 Evolving Systems Inc. 2,310.46 05/05/2003 2,295.07 04/09/2003 15.39 0.00 253 .00 FINDWHAT.COM 2,667.60 05/05/2003 1,882.90 12/24/2002 784.70 000 184 .00 Harmoruc Ughtwaves Inc. 734.12 05/05/2003 90162 04/14/2003 (167 .50) 0.00 1 .257.00 Leading Brands Inc 2,422.54 05/05/2003 3,72934 09/25/2002 (1,306.80) 0.00 597.00 Leading Brands Inc 1,150.56 0510512003 1,736.18 10/11/2002 (585 .62) 0.00 509.0& PC - Tel Inc. 4,668.52 05/05/2003 5,051 .62 04/0112003 (383 .10) 0.00 Dfiehaus Capital Management Friday January 23, 2004 16.56:36 Page 24 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056501 -- RICHARD H. DRIEHA US FOUNDA TION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouanti Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

144.00 Synovis Life Technologies Inc 1,702.18 05/05/2003 1,479.96 02/06/2003 22222 0.00 322 .00 Synovis Life Technologies Inc 3,806.27 05/05/2003 3,490.09 03/12/2003 316.18 0.00 55.00 Synovis Life Technologies Inc 650.14 05/05/2003 591 .25 03/14/2003 58.89 0.00 1,080.00 Tradestation Group Inc 6,747.73 05/05/2003 2,974.07 03/19/2003 3,773.66 0.00 43000 Applied Signal Technology 5,175.06 05/06(2003 5,434.38 06111/2002 (259 .32) 0.00 698.00 Applied Signal Technology 8,400.45 05/06/2003 9,170.95 0212512003 (770 .50) 000 1,523.00 Biomarm Pharmaceutical Inc 16,891 .24 05/0612003 16,078 .92 02/21/2003 812.32 0.00 142.00 Biomarm Pharmaceutical Inc 1,574.89 05/0612003 1,520.72 03/07/2003 5417 0.00 603 .00 Digital Generation Systems 1,771.63 0510612003 1,220.38 02124/2003 55125 0.00 66000 Digital Generation Systems 1,93909 05/0612003 1,587.76 03/18/2003 351 .33 0.00 408.00 Evolving Systems Inc. 1,282.94 05/06/2003 1,300.54 04/09/2003 (17.60) 0.00 1,281.00 FINDNVHAT.COM 12,494 .02 05/06r2003 9,533.59 12124/2002 2,960.43 0.00 1,080.00 limovex Inc. 8,682.78 05/0612003 10,118 .30 04/17/2003 (1,435 .52) 0.00 503 .00 J2 GLOBAL COMMUNICATIONS INC 14,142 .48 05/0612003 15,042 .67 0312612003 (900.19) 0.00 1.00 J2 GLOBAL COMMUNICATIONS INC 28.12 05/06t2OO3 32 .34 04102/2003 (4.22) 0.00 249.00 Leachng Brands Inc 470.26 05/06t2003 724.13 1 Otl 1/2002 (253 .87) 000 5,026.00 Looksmart Ltd 10,291 .81 05/0612003 10,947 .67 11120/2002 (655 .86) 0.00 3,027.00 Looksmart Ltd 6,19843 05/06/2003 11,114 .97 04/15/2003 (4,916.54) 0.00 3.00 PC - Tel Inc. 27.40 05/06/2003 27.58 03/25/2003 (0.18) 0.00 71 .00 PC - Tel Inc. 648.50 05/0612003 653.37 03126/2003 (4.87) 0.00 498 .00 PC - Tel Inc. 4,548.61 05/06/2003 4,942.45 04/01/2003 (393 .84) 0.00 497.00 Puma Technology Inc 1,395.85 05/06/2003 1,115.58 03/12/2003 280 .27 0.00 1,896.00 Puma Technology Inc 5,325.01 05/0612003 5,320.62 0410412003 439 000 292 .00 Sportsman's Guide Inc. 2,701 .66 05/06t2OO3 2,309.22 01/1612003 392 .44 0.00 1 .00 Sportsman's Guide Inc. 9.25 05/0612003 809 0212012003 1 .16 0.00 801 .00 Synovis Life Technologies Inc 9,487.23 05/06/2003 8,232.28 02106/2003 1,25495 000 540.00 Tradestation Group Inc 3,239.84 05/06/2003 1,487.03 03/19/2003 1,752.81 0.00 95.00 Yocream International Inc 470.22 05/06/2003 721 .91 06110/2002 (251 .69) 0.00 247.00 Aceto Corp. 3,991.63 05/07/2003 2,646.19 12/3112002 1,345." 0.00 133.00 Aceto Corp. 2,149.34 05/0712003 1,473.53 01/02/2003 675.81 0.00 247.00 Aceto Corp. 3,991.63 05/07/2003 3,727.33 04/1112003 26430 0.00 596.00 Applied Signal Technology 7,076.15 05/07/2003 7,532.31 06111/2002 (456.16) 0.00 184 .00 Applied Signal Technology 2,19458 05/07/2003 2,290.49 02114/2003 (105.91) 0.00 276.00 Applied Signal Technology 3,276.87 05/07/2003 3,40507 02118/2003 (128.20) 000 253.00 Cyberguard Corp 1,378.78 05/07/2003 1,686.60 12/1612002 (30782) 0.00 2,81600 Digital Generation Systems 8,57080 05/07/2003 5,699.18 02/24/2003 2,871 .62 0.00 573 .00 Digital Generation Systems 1,743.99 05/07/2003 1,08060 02125/2003 663 .39 000 720.00 DICK S SPORTING GOODS INC 21,397 .53 05/07/2003 17,764 .78 04101/2003 3,632.75 0.00 312 .00 Evolving Systems Inc. 928.31 05/07/2003 994.53 04109/2003 (66.22) 0.00 83.00 Omega Protein Corp. 401 .25 05/07/2003 456.22 03/18/2003 (54.97) 0.00 182 .00 Puma Technology Inc 48023 05/07/2003 362.28 03/11/2003 117 .95 0.00 1 .026.00 Puma Technology Inc 2,707.21 05107r2003 2,303.00 03/i2122003 404.21 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

175 .00 Sportsman's Guide Inc. 1,626.35 05/07/2003 1,383.95 01/1612003 242.40 0.00 580-00 Synovis Life Technologies Inc 7,03228 05/07/2003 5,960.95 02/0612003 1,071.33 0.00 294.00 Yocream. International Inc 1,455.23 05/07/2003 2,234.11 0611012002 (778.88) 0.00 354.00 Able Laboratories Inc 5,52600 05/08/2003 5,808.89 04115/2003 (282 .89) 0.00 360.00 Able Laboratories Inc 5,619.66 05/08/2003 6,681 .02 05/0212003 (1,06136) 0.00 1,124.00 Ask Jeeves Inc 10,565 .10 05/08/2003 3,380.43 01/03/2003 7,194.67 0.00 683-00 Ask Jeeves Inc 6,41989 05/0812003 3,412.66 01/29/2003 3,00723 000 1,799.00 Atari Inc 9,754.25 05/08/2003 7,761 .62 04/28/2003 1,992.63 000 182.00 American Physicians Cap Inc 4,103.70 05/09/2003 4,405.38 05/02/2003 (301 .68) 0.00 1,079.00 Atari Inc 6,059.81 05/09/2003 4,65524 04128/2003 1,40457 0.00 1,428-00 Brigham Exploration Co 6,844.31 05/09/2003 8,315.96 01/21/2003 (1,47165) 0.00 659-00 Brigham Exploration Co 3,158.55 05/09/2003 3,42259 05/09/2003 (26404) 0.00 1,909.00 Captans Inc 6,072.74 05/09/2003 6,205.13 01/0812003 (132 .39) 0.00 1,146.00 Captans Inc 3,645-55 05/09/2003 4,115.54 01/09/2003 (469 .99) 0.00 215 .00 Hi-Tech Pharmacal Co. Inc. 7,808.43 05/09/2003 2,255.71 10/11/2002 5,552.72 000 198.00 Hi-Tech Phannacal Co Inc. 7,191.02 05/09/2003 7,307.59 05/09/2003 (116 .57) 000 396 .00 Omni vision Technologies 11,055 .96 05/09/2003 11,086 .14 05/09/2003 (30 .18) 0.00 180 .00 Ross Systems Inc. 2,34889 05/09/2003 2,241 .00 01/23/2003 107 .89 000 165 .00 Ross Systems Inc. 2,153.14 05/09/2003 2,235.75 05/09/2003 (82 .61) 0.00 1,439.00 Sina Corp 17,547 .92 05/09/2003 18,044 .05 05/09/2003 (496 .13) 0.00 34.00 American Physicians Cap Inc 75880 05/12/2003 822 .98 05/02/2003 (64 .18) 000 670-00 Concur Technologies Inc. 3,935.39 05/1212003 4,189.02 05/09/2003 (25363) 0.00 198.00 I-Ii-Tech Pharmacal Co. Inc. 7,367.23 05/1212003 2,077.36 10111/2002 5,289.87 0.00 818 .00 Packeteer Inc 11,909 .51 05/1212003 10,704 .76 05/09/2003 1,204.75 0.00 165.00 Ross Systems Inc. 2,125 09 05/12/2003 2,054.25 01/23/2003 7084 0.00 1,542.00 Range Resources Corp 8,727.30 05/12/2003 9,740.35 05/02/2003 (1,013 .05) 0.00 1,543.00 SM&A 12,074.94 05/12/2003 12,571 .90 05/09/2003 (49696) 000 908-00 Boston Communications Gr 15,26276 05/13/2003 16,881 .45 04/17/2003 (1,61869) 0.00 635 .00 Boston Communications Gr 10,673 .94 05/13/2003 10,839 .89 05/09/2003 (166 .05) 0.00 715-00 Biolase Tech Inc 7,88922 05/13/2003 7,98655 05/09/2003 (9733) 000 1,391-00 Concur Technologies Inc. 8,111.78 05/13/2003 8,696.90 05/09/2003 (585 .12) 0.00 25600 J2 GLOBAL COMMUNICATIONS INC 7,285.42 05/13/2003 7,65591 03/26/2003 (370 .49) 000 108 .00 J2 GLOBAL COMMUNICATIONS INC 3,073.53 05/13/2003 3,109.32 05/09/2003 (35 .79) 0.00 62000 Range Resources Corp 3,526.58 05/13/2003 3,916.35 05/02/2003 (389 .77) 000 1,027.00 Range Resources Corp 5,84160 05/13/2003 6,233.89 05/09/2003 (39229) 0.00 1,022.00 Select Comfort Corp . 14,818 .30 05/13t2OO3 14,803 .47 O5/O9f2OO3 14.93 000 389 .00 Usana Inc 10,928 .47 05/13/2003 11,16430 05/09/2003 (235 .83) 000 204.00 Vital Images Inc 3,459.67 05113/2003 3,303.49 05/09/2003 15618 0.00 1,027-00 Ask Jeeves Inc 10,680 .29 05/1412003 10,115 .95 05/09/2003 564.34 0.00 1,344.00 Biolase Tech Inc 15,220.35 05/14/2003 15,012 .48 05/09/2003 207.87 0.00 1,032.00 Gevity Hr Inc 11,044 .97 05/14/2003 10,619 .28 05/09/2003 425 .69 000 514.00 Netease com Inc. ADR 14,339 .92 05/14/2003 12,747 .20 05/09/2003 1,592.72 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 26 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056501 -- RICHARD H. DRIEHA US FOUNDA TION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

1,030.00 Packeteer Inc 15,026 .99 05/14/2003 13,479 .10 05/09/2003 1,547.89 0.00 193.uO Usanalnc 5,431.05 05/14/2003 1,754.54 1(1(1712002 3,676.51 0.00 38.00 Usanalnc 1,069.33 05/14/2003 337.43 10/1812002 731 .90 0.00 202.00 Usana Inc 5,684.31 05/14/2003 5,797.40 05/0912003 (113 .09) 0.00 818 .00 Vital Images Inc 14,091 .92 05/14/2003 13,24636 05/0912003 845.56 000 747 .00 The Bombay Company Inc. 6,254.48 05/16/2003 7,096.50 05/0912003 (942 .02) 0.00 517 .00 Boston Communica ons Gr 8,273.11 05/16/2003 8,"1 .37 03/26(2003 (168 .26) 0.00 710.00 Boston Communications Gr 11,361 .52 05/16/2003 12,120 .20 05/0912003 (758 .68) 0.00 767 .00 Gevity Rr Inc 8,306.21 05/16/2003 7,892.43 05/09/2003 413 .78 0.00 348 .00 Jos A Bank Clothiers Inc 8,671.89 05/1612003 9,900.60 04/11/2003 (1,228 .71) 0.00 470.00 Jos A Bank Clothiers Inc 11,712 .04 05/1612003 12,182 .40 05109/2003 (47036) 000 1,53400 Biolase Tech Inc 18,55484 05/19/2003 20,106 .60 05/1612003 (1,551 .76) 000 1,032.00 Biolase Tech Inc 12,304 .16 05/2Ot2OO3 11,527 ." 05/0912003 776.72 000 511 .00 Biolase Tech Inc 6,092.47 05/2012003 6,697.83 05/1612003 (605 .36) 0.00 818 .00 Marvel Enterprises Inc. 15,589 .69 05/20/2003 15,599 .26 05/0912003 (9.57) 000 613 .00 Netease.corn Inc. ADR 15,431 .79 05/20/2003 15,202 .40 05/0912003 229.39 0.00 1,022.00 Sina Corp 13,300 .70 05/20/2003 12,815 .16 05/09/2003 485 .54 0.00 1,022.00 Sohn. corn Inc. 21,554 .90 05/20/2003 19,458 .88 05/09/2003 2,096.02 0.00 172.00 Stratasys Inc 5,489.48 05/20t2003 3,799.48 05/0912003 1,690.00 0.00 1,048.00 Brigbam Exploration Co 5,311.21 05/22/2003 5v442.91 05/09/2003 (131 .70) 000 482.00 Biolase Tech Inc 6,092.19 05/22/2003 3v745.81 02/2712003 2,346.38 0.00 233.00 Biolase Tech Inc 2,9" .98 05122/2003 2,602.61 05/09/2003 342.37 0.00 511 .00 K V H Industries Inc 9,774.97 05122/2003 8,840.30 05/09/2003 934.67 0.00 1,022.00 Mechfast Inc lOv646 .69 05/22/2003 9vI42 91 05/0912003 1,503.78 0.00 202.00 Omn vision Technologies 6vO59.71 05122/2003 5,65505 05/09/2003 404.66 0.00 381 .00 Quality Systems Inc. IIvI88 .34 05122/2003 9,914.15 02/18/2003 lv274.19 0.00 260.00 Quality Systems Inc. 7,635.09 05/2212003 7,41424 04/29/2003 220.85 0.00 306.00 Quality Systems Inc. 8.985.91 05/22/2003 9v510.48 05/09/2003 (52457) 0.00 142.00 Sina Corp 1,975.86 05122/2003 1,660.04 04/2412003 315 .82 000 618 .00 Sina Corp 8,599.19 05/22/2003 7,749.29 05/09/2003 949.90 0.00 236.00 SS & C Tech Inc 3,617.71 05/22/2003 2,896.33 03/17/2003 721 .38 0.00 676.00 SS & C Tech Inc 10,36259 05/22/2003 8,178.92 03/1812003 2,183.67 0.00 437 .00 SS & C Tech Inc 6,698.89 05/22/2003 6,13985 05/09/2003 559.04 0.00 511 .00 Eon Labs Inc 15,078 .90 05123/2003 15,682 .28 05/09/2003 (603.38) 0.00 640.00 Medifast Inc 7,381 .92 05/23/2003 5,725.50 05/09/2003 1,656.42 0.00 76600 Vital Images Inc 12,638 .40 05/23/2003 12,404.30 05/09/2003 23410 0.00 1,532.00 Acres Gaming Inc. 12,763 .55 05/27/2003 13,941 .20 05/09/2003 (1,17765) 0.00 1,451 .00 Aquantive Inv 9,975.87 05/27/2003 10,911 .52 05/05/2003 (93565) 000 592.00 Aquantive Inv 4,070.10 05/27/2003 4,337.76 05/06/2003 (267.66) 0.00 1,883.00 Omega Protein Corp. 8,367.92 05/27/2003 9,711.61 03/07/2003 (1,343.69) 0.00 671 .00 Omega Protein Corp. 2,981.88 05/27/2003 3,688.22 03/18/2003 (706.34) 0.00 283.00- Peerny E Lis L-L-ina-tion--i 5,199.09 05/27!2003 5,633.26 01104-120003 (43A. 171 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

693.00 Perry Ellis International 12,731 .33 05/27f2003 13,818.42 05/09f2OO3 (1,087 .09) 0.00 282 .00 Radica Games lid 1,550.98 05/27/2003 2,224.08 05/05/2003 (673.10) 000 38300 Radica Games Ltd 2,106.48 05/27/2003 3,059.21 05/0612003 (95273) 000 933.00 Radica Games Ltd 5,131.44 05/27/2003 7,549.00 05/07/2003 (2,41756) 000 181 .00 Radica Games Ud 995 .49 05/27/2003 1,469.72 05/08/2003 (47423) 0.00 601 .00 Vital Images Inc 9,665.60 05127f2003 8,125 .10 0412312003 1,540.50 000 23600 Vital Images Inc 3,795.48 05/27/2003 3,35096 04/24/2003 444.52 000 344 .00 Vital Images Inc 5,532.39 05/27/2003 4,845.93 04129/2003 686.46 000 35100 Vital Images Inc 5,644.97 05/2712003 5,68395 05/09/2003 (38 .98) 0.00 789.00 Aceto Corp. 14,955 .97 05/28/2003 15,42495 05/09/2003 (468 .98) 000 381 .00 Eon Labs Inc 10,934.18 05/2812003 9,413 14 03/13/2003 1,521.04 000 408.00 Eon Labs Inc 11,709-05 05/2812003 10,182 .90 03/17/2003 1,52615 0.00 31000 Eon Labs Inc 8,896.58 05/28/2003 8,293.90 03/18/2003 602.68 0.00 1600 Eon Labs Inc 459.18 05/28/2003 491 .03 05/09/2003 (31 .85) 0.00 1,030.00 K V H Industries Inc 22,133 .65 05/28/2003 17,819 .00 05/09/2003 4,31465 0.00 157 .00 PC - Tel Inc. 1,776.26 05128/2003 1,46947 05/09/2003 30679 0.00 1,389.00 PC - Tel Inc. 15,71482 05/28/2003 15,852 .10 05/16/2003 (137 .28) 0.00 23.00 Radica Games Ud 126 .12 05/28/2003 181 .40 05/05/2003 (55 .28) 0.00 752 .00 Radica Games Ltd 4,123.61 05/28/2003 5,212 11 05/09/2003 (1,088 .50) 0.00 505 .00 Bank-rate Inc 4,458.94 05/28/2003 3,394.71 04M/2003 1,06423 0.00 1,55000 Bankrate Inc 13,685 .85 05/2812003 11,45450 05/09/2003 2,231.35 000 68.1343 Aceto Corp . 1,27403 05/2912003 72851 1213112002 545.52 000 481 .00 Aceto Corp . 9,011 .92 05/29/2003 9,40355 05/09/2003 (39163) 0.00 1,134.00 Back Yard Burgers Inc 5,807.75 05/29/2003 7,247.96 05/09/2003 (1,440.21) 0.00 951 .00 Boston Communications Gr 15,300 .87 0513012003 13,781 .99 03/1412003 1,518.88 0.00 190.00 Boston Communications Gr 3,056.96 05/30/2003 2,73410 03/1812003 322 .86 000 241 .00 Boston Communications Gr 3,877.51 0513WO03 3,934.95 0312612003 (57 .44) 0.00 309.00 Cemdyne Inc. 4,91444 0513=003 4,289.97 05/09/2003 624.47 000 927 .00 Ceradyne Inc. 14,743 .33 05/3012003 15,460.23 05/2812003 (716.90) 000 34.00 Medi fast Inc 422.91 05/30/2003 27836 05/0612003 144 .55 000 35400 Medifast Inc 4,403.20 05/30/2003 3,109.82 05/07/2003 1,293.38 0.00 1,801.00 Medifast Inc 22,401 .58 05f3Of2OO3 16,111 .93 05/09nM3 6,289.65 0.00 576.00 Radica Games Ud 3,254.24 05/30/2003 3,807.94 03/2812003 (553 .70) 0.00 983 .00 Radica Games Ud 5,55369 0513012003 6,813.17 05/09/2003 (1,25948) 0.00 121 .00 Sohu corn Inc 3,34934 05/30/2003 1,148.98 03/20/2003 2,20036 0.00 611 .00 Sohu corn Inc. 16,912 .78 05/3012003 ~,651 47 03/26/2003 10,261 .31 000 813 .00 Sobu com, Inc. 22,504 .25 05[30(2003 15,47952 05/09/2003 7,02433 000 1,051.00 Tradestation Group Inc 8,640.49 05/30/2003 6,474.16 05/09/2003 2,166.33 0.00 2,043.00 Tradestation Group Inc 16,795 .93 05/3012003 14,049 .92 05/2212003 2,74601 0.00 7000 Ask Jeeves Inc 914.68 0610212003 689 .50 05/09/2003 225 18 0.00 77.00 Biolase Tech Inc 1,136.69 06102/2003 598.40 02/27/2003 538.29 0.00 45.00 Central European Distribution Corp. 965.43 06tO2/2003 951 .93 05/09/2003 13 .50 0.00 Driehaus Capital Management Friday January 23, 2004 16.56:36 Page 28 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Unamortized Bond ouantiti Security Descriotion Proceed Date cost Date Gain (- Loss) Premium Discount) 114 .00 Concur Technologies Inc. 767 .18 0610212003 80338 05123/2003 (36 .20) 000 26.00 DICK S SPORTING GOODS INC 75630 06/02/2003 756.08 05/0912003 0.22 000 218.00 E-Loan Inc. 1,035.45 0610212003 1,059.53 05/28/2003 (2408) 000 70.00 Enterra Energy Trust 843 .46 06(02/2003 705 .71 04/23/2003 137.75 0.00 81.00 Gevity Hr Inc 804.29 06(0212003 833 .49 05/09/2003 (29 .20) 0.00 89.00 Dot H ill Systems Corp 996.59 06(02f2003 745.94 05/09/2003 250.65 0.00 93.00 Innovex Inc. 957 .85 06102/2003 994.79 05/28/2003 (26 .94) 0.00 50.00 K V H Industries Inc 1,067.33 06(02/2003 86500 05/09/2003 202.33 0.00 119.00 Medifast Inc 1,53346 06/02t2OO3 97426 05/06/2003 559.20 0.00 91.00 Medifast Inc 1,172.65 06102./2003 745.03 05/06/2003 427.62 000 42.00 Millicom Intl Cellular S.a. 920.60 0610212003 575.76 05/05/2003 344.84 0.00 42.00 Marvel Enterprises Inc. 990.24 0610212003 926.10 05/30/2003 64.14 0.00 45.00 Neteasc com Inc. ADR 1,42870 0610=003 1,11600 05/09/2003 312.70 0.00 533.00 Ommvision Technologies 17,740.34 06102/2003 9,55387 02120/2003 8,18647 000 696.00 Omni vision Technologies 23,165 .62 06(0212003 13,485.97 02/2812003 9,67965 000 115 .00 Omni vision Technologies 3,827.65 W02/2003 2,227.80 03/05/2003 1,599.85 0.00 47.00 Omnivision Technologies 1,564.34 06(02/2003 1,315.78 05/09/2003 248.56 0.00 41 .00 Packeteer Inc 59511 W02/2003 40344 03/07/2003 191 .67 0.00 1,229.('-') Packeteer Inc 17,83883 06/02/2003 14,13067 04/21/2003 3,708.16 000 1.306 .00 Packeteer Inc 18,956.48 W02/2003 17,09097 05/09/2003 1,865.51 000 96.00 Packeteer Inc 1,393.43 W02/2003 944.63 03/0712003 448.80 0.00 148 .00 Praecis Pharmaceuticals Inc 781 .40 06102/2003 815 .38 06102/2003 (33 .98) 0.00 531 .00 Radica Games Ltd 3,241.01 W02/2003 3,47274 03/27/2003 (231 .73) 000 41.00 Radica Games Ltd 250.25 06/02/2003 271 .05 03/28/2003 (20.80) 0.00 137.00 Radica Games Ltd 836 19 06/0212003 86763 03/31/2003 (3144) 0.00 113 .00 Radica Games Ltd 689.71 0610212003 71564 04/01/2003 (25 .93) 0.00 42000 Radica Games Lid 2,563.51 O&OW003 2,71555 04/02/2003 (152 .04) 0.00 118.00 Sigma Designs Inc. 1,30619 06/02r2003 95700 05/09/2003 34919 0.00 42.00 Sohu com Inc. 1,137.62 06102/2003 39882 03/20/2003 738.80 000 209.00 StmOpta Inc 1,228.86 06102/2003 1,09796 05/13/2003 13090 0.00 150.00 Tripath Imaging Inc. 998.20 06/02/2003 1,036.80 05/13/2003 (38 .60) 0.00 64.00 Vital Images Inc 950.99 06/0212003 865 .24 04/23/2003 85 .75 000 140 .00 Westel Technologies Inc. - A 1,026.75 W0212003 79552 05/09/2003 23123 000 407.00 Ciphergen Biosystems Inc. 3,622.12 06t0312003 3,737.81 0610212003 (115 .69) 0.00 660.00 Eresearch Technology Lac. 1 1,789 62 06103f2003 9,92390 O5/O9f2OO3 1,965.72 0.00 972.00 Vital Images Inc 13,708.64 06103/2003 11,95550 03125/2003 1,753.14 000 45600 Vital Images Inc 6,431.21 0&03/2003 6,164.80 04/23/2003 266.41 0.00 165 .00 China Yuchai Intl. Ud. 1,075.01 06104f2003 1,09520 05/09f2OO3 (20.19) 0.00 495.00 Medifast Inc 6,766.03 06104/2003 2,985.20 04/21/2003 3,780.83 0.00 1,562.00 Medifast Inc 21,350.59 0&04/2003 12,78825 05/06/2003 8,562.34 0.00 679.00 Cash America Ind. Inc. 8,641.29 06104f2003 7,777.20 05/0&-2003 864 .09 0.00 306.00 Sportsm;-=s Guide Inc. ~Znao 170 ..,Vj 061=003 2,922.30 055/09/2003 7635 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium if- Discount)

505 .00 Sina Corp 8,280.60 06104/2003 5,903.65 04/24/2003 2,376.95 0.00 1,532.00 Sina Corp 25,120.55 0610412003 23,734 .97 05/27/2003 1,385.58 000 242 .00 Aquantive Inv 1,902.03 06105/2003 1,773.21 05/0612003 128 .82 0.00 595 .00 Aquanuve Inv 4,676.48 06105/2003 4,278.94 05/0712003 397 .54 000 1,716.00 Aquantive Inv 13,487 .11 06105/2003 12,18360 05/09/2003 1,303.51 000 1 .00 Cash in lleu - Short Term 10.50 06t05/2003 0.00 06105/2003 10.50 0.00 142 .00 China Yuchai Intl. Ltd. 920.06 0610512003 905.11 03/2612003 14.95 0.00 889 .00 China Yuchai Intl. Ltd. 5,760.09 06t0512003 5,900.83 05/09/2003 (140.74) 000 337 .00 DICK S SPORTING GOODS INC 9,250.21 06tO5/2003 4,410.69 10/1612002 4,839.52 0.00 150 .00 DICK S SPORTING GOODS INC 4,117.31 06t05/2003 3,701 .00 04/01/2003 416.31 0.00 735.00 DICK S SPORTING GOODS INC 20,174.80 06tO5/2003 21,37380 05/09/2003 (1,199.00) 0.00 1.109 .00 Dot Hill Systems Corp 11,304 .16 06/05/2003 9,29497 05/09/2003 2,009.19 0.00 950-00 Medifast Inc 13,82935 06105/2003 5,729.17 04/21/2003 8,100.18 0.00 770.00 Microstrategy Inc-Cl A 29,15730 06f05/2003 17,759.59 03/07/2003 11,39771 000 371 .00 Microstrategy Inc-Cl A 14,04852 06105/2003 10,09491 05/09/2003 3,95361 0.00 303.00 Netease corn Inc. ADR 10,324 .75 06105/2003 3,651.00 03/13/2003 6,673.75 0.00 307.00 Netease corn Inc. ADR 10,461 .05 06105/2003 7,613.60 05/0912003 2,847.45 0.00 1,416.00 Network Equipment Tech Inc 12,139 .36 06105/2003 6,744.39 11/13/2002 5,39497 0.00 678.00 Network Equipment Tech Inc 5,812.49 06/05/2003 5,159.58 05/09/2003 652 .91 0.00 775.00 Packeteer Inc 11,825 .32 06105/2003 6,986.70 01/10/2003 4,83862 000 605.00 Packeteer Inc 9,231 .38 06105/2003 5,725.72 03/03/2003 3,505.66 0.00 186 .00 Packeteer Inc 2,838.08 06/05/2003 1,817.22 03/0412003 1,02086 000 86-00 Packeteer Inc 1,312.23 06/05/2003 841 .94 03/05/2003 470.29 000 38500 Packeteer Inc 5,874.51 06/05/2003 3,788.36 03/07/2003 2,086.15 000 628.00 Cash America Intl. Inc. 7,791 .48 06/05/2003 7,158.26 05/07/2003 633 .22 0.00 221 .00 Cash America Intl. Inc. 2,741 .91 06tO5/2003 2,531.31 05/08/2003 210.60 0.00 71.00 Bankrate Inc 770.31 06(05/2003 411 .86 04/22/2003 358 .45 0.00 1,657.00 Bankrate Inc 17,977 .60 06105/2003 11,138.69 04/25/2003 6,838.91 0.00 262.00 Usana Inc 10,060 .32 06(05/2003 2,239.37 10116(2002 7,820.95 0.00 112.00 Usanaluc 4,300.60 06105/2003 994.54 10/18/2002 3,306.06 0.00 1,175.00 SM&A 11,291 .21 06105/2003 10,897 .77 05/23/2003 393.44 000 259-00 Chma Yuchai Intl . Ltd. 1,595.13 06/0612003 1,502.25 03/25/2003 9288 0.00 617.00 China Yuchai Ind. Ltd. 3,79998 06106/2003 3,932.76 03/26/2003 (132 .78) 0.00 1,370-00 Enterra Energy Trust 17,836 .56 06t0612003 13,81166 04/2312003 4,024.90 0.00 157 .00 Enter-ra Energy Trust 2,04404 06106/2003 1,573.14 05/09/2003 470-90 0.00 6 2. CCXJ K V H Industries Inc 1,352.40 06106/2003 857 .74 04/1412003 494.66 0.00 72000 K V H Industries Inc 15,705 .34 06tO6/2003 10,578 10 04/28/2003 5,127.24 0.00 236.00 K V H Industries Inc 5,147.86 0610612003 4,082.80 05/09/2003 1,06506 0.00 249.00 Marvel Enterprises Inc. 6,145.10 06106/2003 1,798.06 09125/2002 4,34704 000 471-00 Marvel Enterprises Inc. 11,623 .87 06tO6/2003 8,981 .97 05/09/2003 2,641 .90 000 298.00 Marvel Enterprises Inc. 7,354.38 06106/2003 6,57090 05/30/2003 783 .48 0.00 273-00 Cash America Intl . Inc 3,347.61 061062003 3,11179 05/07/2003 23582 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 30 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHA US FOUNDA TION-MICROCAP

Sale Purchase Realized Unarriortized Bond Ouantity Security Descriptio Proceeds Date Cost Date Gain (- Loss Premium Discount)

236 .00 Cash America Intl. Inc. 2,893.91 0&0612003 2,65028 05/09/2003 243 .63 0.00 54.00 Select Comfort Corp. 873 .11 06tO6/2003 782.18 05/09/2003 9093 0.00 866 .00 Select Comfort Corp. 14,002.12 W0612003 12,543.84 05/09/2003 1,45828 0.00 124 .00 Select Comfort Corp. 2,004.92 06tO6/2003 1,99027 06102/2003 1465 0.00 90.00 Select Comfort Corp. 1,455.19 W0612003 1,454.88 06103/2003 0.31 0.00 1,120.00 Sportsman's Guide Inc. 10,935 .72 06tO6t2OO3 10,696 .00 05/09/2003 23972 0.00 2,037.00 Sigma Designs Inc. 24,131 .40 06tO6/2OO3 16,520.48 05/09/2003 7,61092 0.00 628.00 Usana Inc 23,743 .18 06tO6t2OO3 5,367.64 10/16/2002 18,375 .54 0.00 494.00 SM&A 4,692.78 W06/2003 3,287.87 04/28/2003 1,404.91 000 233.00 SM&A 2,213.39 06tO6t2OO3 1,89841 05/09/2003 314.98 0.00 135 .00 SM&A 1,282.44 06tO6t2OO3 1,25208 05/23/2003 3036 000 1,182.00 China Yuchai Intl . Lid 7,325.80 W0912003 6,855.84 03/25/2003 46996 000 1,028.00 Bankrate Inc 11,053 .35 06tO9/2003 5,96322 04122t2003 5,090.13 000 52.00 Sportsman's Guide Inc. 517.35 06tO9/2003 411 23 01/16(2003 10612 000 121 .00 Sportsman's Guide Inc. 1,203.83 W0912003 1,15555 05/09/2003 48 .28 0.00 2,549.00 Westel Technologies Inc. - A 21,651 .45 06tO9/2003 14,494.07 05/09/2003 7,167.38 0.00 1,13200 Aquantive Inv 9,055.57 WIW003 4,582.67 02/25/2003 4,472.90 0.00 933.00 Aquantive Inv 7,463.64 06tlO/2003 6,624.30 05/09/2003 839.34 000 531.00 Dot Hill Systems Corp 5,37878 06tlO/2003 3,861.54 05102/2003 1,517.24 0.00 257.00 Dot Hill Systems Corp 2,603.29 06110/2003 1,88797 05/05/2003 715 .32 0.00 1,254.(jO Dot Hill Systems Corp 12,702.42 06(10/2003 10,510 .28 05/09/2003 2,192.14 0.00 507.00 SunOpta Inc 3,083.96 06tlO/2003 2,60604 05/1212003 477 .92 0.00 444.00 SunOpta Inc 2,700.74 06tlO/2003 2,332.51 05/13/2003 368 .23 0.00 1,596.00 SunOpta Inc 9,708.07 06110/2003 8,213.96 05/14/2003 1,494.11 0.00 740.00 Vital hmges Inc 11,032.88 06tlO/2003 6,393.60 11/27/2002 4,63928 0.00 200.00 Vital briages Inc 2,981.86 06tlGt2003 2,459.98 03125/2003 521 .88 0.00 1,533.00 Aqua-ritive Inv 12,473 .11 06/11/2003 6,206.04 02/25/2003 6,267.07 0.00 1,532.00 Bradley Pharmaceuticals Inc 25,119.78 06/11/2003 27,201 .73 05/2812003 (2,081 .95) 0.00 814.00 Penwest Pharmaceuticals Co 14,781 .54 06/11/2003 14,852.16 05/09/2003 (70 .62) 0.00 1,041.00 Cash America Intl . Inc 13,077 .57 06111/2003 11,690.43 05/09/2003 1,387.14 000 110.00 Westel Technologies Inc. - A 965 .69 06/11/2003 60960 05/08t2003 356.09 0.00 1,259.00 Westel Technologies Inc. - A 11,052 .74 06/11/2003 7,153.96 05/09/2003 3,898.78 0.00 626.00 Biolase Tech Inc 8,638.83 06t 1212003 4,65619 OV0412003 3,982.64 0.00 911 .00 Biolase Tech Inc 12,571 .84 06t 12/2003 7,079.75 02/27/2003 5,492.09 0.00 88.00 Central European Distribution Corp . 2,08638 06tl2/2003 1,86155 05/0912003 22483 0.00 727.00 Candela Corp. 8,29903 06t 12/2003 9,469.76 06105/2003 (1,170 .73) 0.00 583 .00 Dhb, Industries Inc 2,044.11 06t 12/2003 2,201.42 04/2212003 (157.31) 0.00 1,453.00 Dhb Industries Inc 5,094.49 06/12/2003 5,866.84 05/09/2003 (772.35) 0.00 2.06 Eresearch Technology Inc. 38.84 06t 12/2003 000 07/17/2002 3884 0.00 381 .00 Medifast Inc 4,629.01 06112/2003 2,20104 03/03/2003 2,427.97 0.00 554.00 Medifast Inc 6,730.89 06t 12/2003 3,040.68 04111/2003 3,690.21 0.00 70.00 Mcdifast Inc 850 .47 06/1212003 422.15 W2. 112003 4U2. .32 0.1-In

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Sale Purchase Realized Unamortized Bond Oruantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

306 .00 Netease com Inc. ADR 10,63300 0&12/2003 3,687.15 03/13/2003 6,945.85 000 1,138.00 Cash America Intl Inc. 14,107 .23 06112/2003 12,233.27 04111/2003 1,873.96 000 132.00 Cash America Ind. Inc. 1,63634 06112/2003 1,482.36 05/09/2003 153 .98 0.00 285 .00 Select Comfort Corp 4,759.27 06/1212003 3,858.90 05101f2003 900.37 000 1,196.00 Select Comfort Corp. 19,97226 06112/2003 17,323 .82 05/09/2003 2,64844 000 360 .00 Westel Technologies Inc. - A 3,133.54 0611212003 1,995.04 05108/2003 1,138.50 000 1,285.00 CNS Inc 10,626.06 06tl3/2003 10,163 .19 04128/2003 462.87 0.00 262 .00 CNS Inc. 2,166.56 06/13/2003 2,05568 04/29/2003 110.88 0.00 736.00 CNS Inc. 6,08621 06tl3/2003 5,814.40 05/09/2003 271 .81 0.00 919 .00 Ceradyne Inc. 12,18106 06/13/2003 8,47640 0410912003 3,70466 0.00 26200 Ceradyne Inc. 3,896.75 06/13/2003 2,73672 04/10/2003 1,160.03 000 209 .00 Ceradyne Inc 3,10848 06113/2003 2,901 .63 05/09/2003 20685 0.00 2,449.00 Dhb Industries Inc 8,746.39 06tl3/2003 9,247.49 0412212003 (501 .10) 000 405.00 Medifast Inc 4,856.21 06/13/2003 2,169.68 02/28/2003 2,686.53 0.00 721 .00 Medifast Inc 8,645.25 06/13/2003 3,957.28 04/11/2003 4,68797 0.00 1,07800 Perceptron Inc. 4,751.47 06/13/2003 4,93025 05/08/2003 (17878) 0.00 1,724.00 Perceptron Inc. 7,598.83 06113/2003 8,522-76 05/09/2003 (923 .93) 0.00 50900 Altins Inc 9,963.36 0611612003 10,129 .10 0&0612003 (165 .74) 0.00 305.00 Altins Inc 5,970.18 06/1&2003 6,130.50 06/09/2003 (160.32) 0.00 204.00 Altins Inc 3,993 17 W1612003 4,06062 W1012003 (67 .45) 0.00 483.00 Biolase Tech Inc 6,253.54 W1612003 3,592.55 02/04/2003 2,660.99 000 293.00 Biolase Tech Inc 3,793.55 06/16t2003 2,04798 02/19/2003 1,745.57 0.00 1,026.00 Biolase Tech Inc 13,283.91 06/16t2003 7,489.80 02/21/2003 5,794.11 0.00 292.00 Candela Corp. 3,092.13 06/l&2003 3,803.53 06105/2003 (711 .40) 0.00 281 .00 Candela Corp. 2,975.65 0&16t2003 3,546.22 06/06t2003 (570.57) 000 712.00 DICK S SPORTING GOODS INC 22,922 .40 06/16/2003 22,604 .15 0611112003 31825 000 507.00 Exactech Inc 7,400.89 06/1612003 5,997.81 11/05/2002 1,403.08 0.00 494.00 Exactech Inc 7,065.15 0611612003 5,711 .20 11/0612002 1,35395 000 424.00 Exactech Inc 6,189.30 0&16/2003 6,292.16 04/24/2003 (102 .86) 0.00 676.00 Exactech Inc 9,967.85 06/16/2003 10,444 .20 05/0912003 (576.35) 0.00 576.00 Matna Healthcare Inc. 9,472.05 06116/2003 6,90889 04/23/2003 2,563.16 0.00 288.00 Matna Healthcare Inc. 4,73602 06/16/2003 3,698.21 04/MO03 1,037.81 000 414.00 Matna Healthcare Inc. 6,808.03 0&16/2003 5,340.60 05/09/2003 1,467.43 0.00 W.00 Medi fast Inc 9,879.79 06/1612003 4,532.22 02/28/2003 5,347.57 000 1,526.00 Merge. Technologies Inc 19,493 .88 0&16/2003 16,995.82 0&05/2003 2,498.06 0.00 1 .00 Netegnty Inc. 5.78 0&16/2003 631 05/13/2003 (0.53) 0.00 3,065.00 Netegnty Inc. 17,70882 061l6f2003 20,236 .70 OY2=003 (2,527 .89) 000 46.00 Optelecom Inc. 445 .26 06/16/2003 53021 04/29/2003 (84 .95) 0.00 57.00 Optelecom Inc. 551 .73 06116f2003 686.85 W3012003 (135 .12) 000 305.00 Optelecom Inc. 2,952.26 06116/2003 3,490.05 05/0912003 (537 .79) 0.00 1,293.00 Perceptron Inc. 5,805.29 06/16/2003 5,91356 05/08/2003 (108 .27) 0.00 151.00 Sigma Designs Inc. 1,462.37 06116/2003 1,12835 05/0612003 334.02 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 32 Gains and Loss Reportfi-om 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Un2mortized Bond Ouantity Security DescrivVion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

231 .00 Sigma Designs Inc . 2,237-13 0616/2003 1,873 .46 05/09/2003 363 .67 0.00 934.00 Sigma Designs Inc . 9,045 .36 06116t2003 7,528 .04 05/12/2003 1,517 .32 0.00 607 .00 Youbet .com Inc 1,626 .70 06116/2003 2,071 .33 05/05/2003 (444.63) 0.00 1,945-00 Youbet com Inc 5,212 .39 06tl6t2003 6,965 .23 05/0612003 (1,752.84) 000 91 .00 Biolase Tech Inc 1,099 .28 06117/2003 636 .06 02/19/2003 463 .22 0.00

175-00 Candela. Corp . 1,828 .05 06/17/2003 2,208 .50 06106t2003 (38045) 000 1,019 .00 Daktronics Inc. 16,63439 06tl7/2003 18,987 .84 06104/2003 (2,353 .45) 0.00 65200 Medifast Inc 7,510 .22 06t 17/2003 3,492 .92 02/28/2003 4,017 .30 0 .00 2,875 .00 Netegrity Inc. 16,459 .29 06/1712003 18,151 .99 05/13/2003 (1,692.70) 0 .00 257 .00 Optelecom Inc. 2,45423 06t 17/2003 2,693 .13 04/23/2003 (238 .90) 0 .00

93 .00 Optelecom. Inc. 888-11 061712003 957 .57 04/24/2003 (69 .46) 000 53 .00 Optclecom. Inc. 506-13 06t 17/2003 557 .20 04125/2003 (51 .07) 0.00 186.00 Optelecorn Inc. 1,776 .21 06tl7/2003 2,066 .94 04/28/2003 (290.73) 0 .00 391-00 Optelecom, Inc. 3,733 .87 06tl7/2003 4,474 .13 05/09/2003 (740.26) 0 .00 1,227-00 Perceptron Inc . 5,529 .45 OW17/2003 5,611 .71 05/08/2003 (82.26) 000

557.00 Sigma Designs Inc . 5,346 .94 06tl7/2003 4,16218 05/06t2003 1,184 .76 0 .00 3,29900 Youbet com, Inc 8,404 .39 06tl7/2003 11,25751 05/0512003 (2,853 .12) 0 .00 216.00 Youbet-com Inc 550 .27 06tl7/2003 732 .63 05/08/2003 (182.36) 0 .00 105 .00 Youbet corn Inc 267 .49 06117/2003 352 .48 05/09/2003 (84.99) 0 .00 1,526-00 Qiao Xing Universal Tele Inc 16,708 .91 06/17/2003 6,26434 05/05/2003 10,44457 0 .00

508 .00 Chrowmed Inc. 4,87656 06118/2003 4,69631 03/14/2003 18025 0 .00 343 .00 Netease com Inc . ADR 11,404 .21 06tl8/2003 1,584 .62 11/0512002 9,819 .59 0 .00 267 .00 Netease com Inc . ADR 8,877 .33 06118/2003 3,217 .22 03/13/2003 5,660.11 0 .00 438 .00 Optelecom Inc. 4,182 .70 06/18/2003 4,388 .54 04122/2003 (205 .84) 0 .00 193-00 Optelecom Inc. 1,84306 06tl8/2003 1,987 .22 04/24/2003 (144.16) 0 .00

1,021 .00 Osteotech Inc. 12,659 .80 06/1812003 13,82924 05/27/2003 (1,169.44) 0 .00 878 .00 Praecis Pharmaceuticals Enc: 4,292 .68 06t 18/2003 4,559 .94 05/13/2003 (267 .26) 0 .00 2,187-00 Praecis Pharmaceuticals Inc 10,692 .58 06tl8/2003 12,048 .94 06102/2003 (1,35636) 0 .00 13 .00 Sobu com Inc . 420 .02 0& 18/2003 76 .28 11/22/2002 343 .74 0 .00 383 .00 Sohu coin Inc . 12,374 .34 O&M-2003 3,229 .11 02/18/2003 9,145 .23 0 .00

621 .00 Sohu corn Inc . 20,063 .87 06/18/2003 5,896 .83 03/2012003 14,16704 1,017 .00 Aceto Corp. 21,222 .98 06/19/2003 21,668 .71 0&04/2003 (445 .73) 0.00 265 .00 Chrommed Inc. 2,507 .65 06t 19/2003 2,449 .85 03/1412003 57 .80 0 .00 1 .248 .00 Chrommed Inc. 11,809 .63 0&19/2003 11,311 .87 03/31/2003 497 .76 0.00 12 .00 Chrommed Inc. 11355 06/19/2003 108 .26 04101/2003 5 .29 0.00

712 .00 K V H Industries Inc 16,339 .70 06tl9/2003 9,85016 04/14/2003 6,489 .54 0 .00 245 .00 Optelecom Inc. 2,305 .34 06/19/2003 2,454 .78 04/22/2003 (149.44) 0.00 1,017.00 Packeteer Inc 14,603 .43 06tl9/2003 9,168 .36 0111(142003 5,435 .07 0.00 682.00 Praccis Pharmaceuticals Inc 3,109.83 0&19/2003 3,32884 05102r2003 (219 .01) 0.00 1,083 .00 Praecis Pharmaceuticals Inc 4,938 .33 06119/2003 5,424 .36 05/1212003 (48603) 0.00

1,287-00 Praecis Pharmaceuticals Inc 5,868.54 06(19/2003 6,684 .10 05/13/2003 (815 .56) 0.00 780.00 Sohu.coin Inc. 21,271 .70 0&19/2003 4,577.06 1 1r22t2002 16,69464 000

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceed Date Cost Date Gain (- Loss) Premium Discount)

237.W Sohu corn Inc. 6,463.32 06/19/2003 1,35242 11/25/2002 5,110.90 0.00 1,364.00 Able Laboratories Inc 28,11644 06/20/2003 28,210 .52 06/05/2003 (94 .08) 000 462.00 Aceto Corp. 9,60453 06/20/2003 4,168.47 11/13/2002 5,436.06 0.00 258.00 Aceto Corp. 5,363.57 0612012003 2,764.04 12131/2002 2,599.53 0.00 219.00 Aceto Corp. 4,552.80 06/20/2003 4,666.12 06104/2003 (113 .32) 0.00 111.00 Acres Gaming Inc. 1,094.41 06r2O/2003 771 .48 02/28/2003 322.93 0.00 719.W Acres Gaming Inc. 7,089.00 O6t2Ot2OO3 5,557 29 03t2&'2003 1,531 .71 0.00 257.00 Acres Gaming Inc. 2,533.90 06120/2003 1,954.87 03/3112003 57903 0.00 760.00 Acres Gaming Inc. 7,493.24 06/20r2003 6,916.00 05/09/2003 577.24 000 806')0 American Home Mtg Holdings 15,09808 06120/2003 15,769 .87 06116/2003 (671 .79) 000 1,624.00 Ahgn Technology Inc 18,940 .62 06/2Ot2OO3 19,14452 06/16/2003 (203 .90) 000 992.00 AT Road Inc 11,09004 06/20/2003 10,207 .68 06/17/2003 88236 000 1,508.00 AT Road Inc 16,85864 06/20/2003 16,753 .43 06118/2003 105 .21 0.00 1,714.00 Ask Jeeves Inc 22,398 .52 06/20/2003 22,958 .00 O6fl7/2003 (55948) 0.00 1,309.00 Ask Jeeves Inc 17,105 99 06/20/2003 18,689 .38 0611 &12003 (1,583 .39) 0.00 16.W The Bombay Company Lac. 15452 0612012003 174 .10 06/05/2003 (19 .58) 000 1,730.00 The Bombay Company Inc. 16,707 .20 06120/2003 19,057 .16 06112/2003 (2,349 .96) 0.00 931.00 Brigham Exploration Co 4,775.80 06f2O/2003 4,835.25 05/0912003 (59 .45) 0.00 876.00 Biolase Tech Inc 9,96367 06/2012003 6,088.20 02103/2003 3,875.47 0.00 81.00 Biolase Tech Inc 92130 06/20/2003 56617 02/19/2003 355.13 000 213 .00 Central European Distribution Corp 4,483.44 06r2O/2003 4,422.85 05/06/2003 6059 000 1,073 nO Central European Distribution Corp. 22,585 .58 06120/2003 22,698 .24 05/09/2003 (112 .66) 0.00 10.00 Central European Media Ent - A 221 .66 06120/2003 157 .21 05/09/2003 64.45 0.00 266.00 Central European Media Ent - A 5,896.20 06/20/2003 6,216.42 06/02/2003 (32022) 0.00 886-00 Cyberguard Corp 6,511 .79 06/20/2003 6,37805 06/06r2003 133 .74 000 100 .00 Cyberguard Corp 734 .96 06/20/2003 70920 06109/2003 25 .76 0.00 805.00 Chicago Pizza & Brewery Inc. 7,968.88 06/20/2003 8,251.25 06/18/2003 (28237) 0.00 262.00 Chronimed Inc. 2,533.42 06/20/2003 2,363.71 04101/2003 169 .71 0.00 191 .OD Chrommed Inc. 1,846.88 06120/2003 1,642.60 05/09/2003 20428 000 4400 Ciphergen Biosystems Inc. 446.38 06120/2003 28043 05/09/2003 165 .95 0.00 1,088.00 Ciphergen Biosystems Inc 11,037 .67 06/20/2003 7,917.48 05/27/2003 3,120.19 0.00 19700 Ciphergen Biosystems Inc 1,998.55 06120r-003 1,80921 06102r.003 189 .34 0.00 1,451.00 Ciphergen Biosystemis Inc. 14,72028 06/2012003 14,51972 06/16t2003 20056 000 830.00 Candela Corp . 8,78745 06120/2003 10,183 .10 05/14/2W3 (1,395 .65) 0.00 592.00 Candela Corp. 6,267.68 06r2O/2003 7,471 .04 06/06/2003 (1,20336) 000 1,509.00 Concur Technologies Inc. 15,179 .82 06120/2003 9,434.66 05/09/2003 5,745 16 0.00 2,368.00 Concur Technologies Inc. 23,82095 06/20/2003 16,687 .77 05/23/2003 7,133.18 0.00 1,143.00 Callon Petroleum Corp. 7,657.73 06120/2003 9,381 .29 06110/2003 (1,72356) 0.00 154.00 Centilbuin Communications Inc 1,581 .57 06(20/2003 1,637.88 05/28/2003 (56 .31) 0.00 2,553-00 Centillium Communications Inc 26,21909 06/20/2003 28,476 16 05/30/2003 (2,257 .07) 0.00 797 .00 China Yuchai Intl . Ltd. 6,415.54 06120/2003 6,761 .91 06/17/2003 (34637) 0.00 509-00 China Yuchai Intl . LAd. 4,097.26 06/20/2003 4,61887 06118/2003 (521 .61) 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 34 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Un2mortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss Premium Discount

564.00 Ditech Communications 2,755.31 06120/2003 2,39799 05/1412003 357 .32 0 .00 1,369-00 Ditech Communications 6,68799 06/2012003 6,543 .82 05/30/2003 144.17 0 .00 159-00 DICK S SPORTING GOODS INC 5,216-75 06120/2003 2,081 .01 10/1612002 3,135 .74 0 .00 299-00 DICK S SPORTING GOODS INC 9,810.12 06120/2003 9,492 .47 06/11/2003 31765 0 .00 113-00 Drugs tore.corn Inc 645.94 06/20/2003 565 .49 0610212003 80.35 0 .00

2,101 .00 Drugstore.com Inc 12,007-96 06/20/2003 10,729 .57 06(04/2003 1,278 .39 0 .00 665 .00 Drugstore.com Inc 3,800.71 06/20/2003 3,654 .97 06105/2003 145 .74 0 .00 868 .00 Dynarnic: Oil & Gas Inc. 3,224-52 06/20/2003 2,923 .99 04/16f2003 400.53 0 .00 1,348 .00 Ecollege corn Inc 14,459.58 06120/2003 14,277 .07 06106/2003 182 .51 0 .00 839 .00 E-Loan Inc . 5,235-53 06(20/2003 3,52580 05/07/2003 1,709.73 0 .00

691 .00 E-Loan Inc . 4,311-98 06/20/2003 2,91464 05/0812003 1,397 .34 0 .00 2,870.00 E-Loan Inc . 17,909.38 06/20/2003 13,948 .83 05/28/2003 3,960.55 0.00 2,442.00 E-Loan Inc . 15,238-57 06/20/2003 15,523 .31 06116/2003 (28474) 0.00 1,476-00 Enterra Energy Trust 19,70367 06/20/2003 14,789 .52 05/09/2003 4,91415 0 .00 2,336-00 Evci Career Colleges Inc 4,49032 06/20/2003 7,483 .38 05/14/2003 (2,993 .06) 0 .00

1,783.00 Evolving Systems Inc. 6,178-54 06/20/2003 7,575 .02 06109/2003 (1,396 .48) 0.00 668.00 Factual Data Corp 11,468-75 06120/2003 9 .16068 05/12/2003 2,308.07 0.00 734-00 Flamel Technologies-sp Adr 8,616-75 06120/2003 7,689 .60 05/22/2003 927 15 0.00 1,867 .00 Flarnel Technologies-sp Adr 21,91754 06(2012003 21,94827 06/04/2003 (30 .73) 0.00 679.00 Flamel Technologies-sp Adr 7,97108 0612=003 8,33697 06105/2003 (365 .89) 0.00

1,093.00 Fuel Tech N V 5,831 .47 06/20/2003 4,594 .61 05/09/2003 1,236.86 0.00 1,271 .00 Gevity Hr Inc 14,064-35 06/2012003 10,083 .99 04109/2003 3,980.36 0.00 831-00 Gevity Hr Inc 9,19549 06/20/2003 8,550.99 05/09/2003 644 .50 0.00 449.00 Dot Hill Systems Corp 5,383 .57 06/20/2003 2,217 .61 03/11/2003 3,165.96 0.00 1,014.00 Dot Hill Systems Corp 12,157.99 06/20/2003 7,37401 05/02/2003 4,783 .98 0.00

2,291-00 Harvest Natural Resources 13,836.98 06120/2003 16,223 .49 06112/2003 (2,386 .51) 0.00 1,620-00 Hams Interactive, Inc. 10,512 .81 06120/2003 11,048 .24 06/1612003 (535 .43) 0.00 1,006-00 Hams Interactive, Inc. 6,528-33 06/20/2003 6,870.07 06117/2003 (341 .74) 0.00 852.00 Imax Corp 7,209-03 06/2012003 6,875 .30 06118/2003 333.73 0.00 2,538 .00 Imax Corp 21,474.78 0612012003 21,868 .68 06119/2003 (393 .90) 0.00

2,408.00 Inkine Pharmaceutical Co 7,883-49 06/20/2003 8,341 .46 06/09/2003 (457 .97) 0.00 59.00 Innovex Inc. 603-92 06120(2003 552 .76 04/17/2003 51 .16 0.00 1,261 .00 Innovex Inc. 12,907.61 W20/2003 11,475 .10 05/09/2003 1,432.51 0.00 1,94700 Innovex Inc. 19,905-92 06f2Of2OO3 19,558 .07 05f2&2003 (652 .15) 0.00 1,279.00 Internet Pictures Corp 5,819-17 06/20/2003 6,089 .23 06120/2003 (27006) 0.00

7,628 .00 Intraware Inc 10,021 .30 06/20/2003 14,201 .13 06106(2003 (4,179 83) 000 4,432 .00 Intraware Inc 5,81288 06r2O/2003 8,228 .43 06105/2003 (2,415 .55) 0 .00 616.00 Intraware Inc 807.93 06/2012003 1,146.81 06106/2003 (33888) 0.00 103 .00 Jos A Bank Clothiers Inc 3,295.84 06120/2003 2,669 .76 05/09/2003 626.08 0.00 481 .00 Jos A Bank Clothiers Inc 15,391 .28 06/20/2003 15,541 .64 06111/2003 (150 .36) 0 .00

2,494.00 KCS Energy Inc . 11 .502-77 06/20f2003 11,23620 05f22f2OO3 266 .57 0.00 90.3 .00 M Inc 3,971 4.44 06r=4003 4,35 88 4 1 OU 1 20-jui kjoj .71 VAM

40 0 40 0 0 0 0 0 0 0 0 0 0

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Sale Purchase Realized Unamortized Bond Ouantity Security Descrintion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

482.00 K-Swiss Inc. - Cl A 16,763 .17 06/20/2003 14,761 .11 05/06/2003 2,002.06 000 432.00 K V H Industries Inc 9,831.85 06120/2003 5,715.36 04111/2003 4,116.49 0.00 326.00 K V H Industries Inc 7,419.41 06120/2003 4,510.05 04114/2003 2,909.36 000 19.00 Magma Design Automation 357 .42 06/20/2003 31500 05/06/2003 42.42 0.00 686.00 Magma Design Automation 12,90483 06120/2003 11,579 .68 05/09/2003 1,325.15 000 749-00 Lionbridge Technologies Inc. 4.05189 0612012003 3,72066 06/05/2003 331 .23 0.00 33.00 Maxcor Fml Group Inc 31047 06/20/2003 25080 01/07/2003 59 .67 0.00 1,378.00 Maxcor FmI Group Inc 12,96430 06120/2003 11,14802 05/09/2003 1,816.28 0.00 2000 Mediware Information Systems 195.15 06120/2003 201 81 01/08/2003 (6.66) 0.00 836.00 Mediware Information Systems 8,157.30 0612=003 8,"3 .60 05/09/2003 (28630) 000 1,055.00 Millicom Intl Cellular S.a 26,523 .46 06t20/2003 14,46247 05/05/2003 12,060.99 0.00 138.00 MtIhcom Intl Cellular S.a 3,469.42 061201'2003 1,87680 05/09/2003 1,59262 000 217-00 Merge Technologies Inc 2,817.09 06120/2003 2,17892 05/14/2003 638 .17 0.00 654.00 Merge Technologies Inc 8,490.22 0612012003 6,99872 05/2212003 1,49150 0.00 511.00 Merge Technologies Inc 6,633.79 06/20/2003 5,69126 06t0512003 942 .53 0.00 1,333.00 Emerson Radio Corp 9,610.47 06120f2003 10,263 .17 06tl2/2003 (652.70) 0.00 381.00 Marvel Enterprises Inc. 7,935.21 06/2Ot2OO3 2,75124 09/25/2002 5,183.97 0.00 408.00 Marvel Enterprises Inc. 8,497.54 06120/2003 2,93001 0912612002 5,567.53 0.00 140-00 Marvel Enterprises Inc. 2,915.82 06120/2003 1,00540 09/26/2002 1,910.42 0.00 1,281.00 Network Engines Inc 5,290.63 06120/2003 3,165.75 05/23/2003 2,124.88 0.00 2,043.00 Network Engines Inc 8,437.76 06/2Ot2OO3 5,374.73 05/27/2003 3,063.03 0.00 614.00 Netease com Inc. ADR 19,270.46 06120/2003 2,83661 11/05/2002 16,433 .85 000 993-00 Omega Protein Corp 5,530.74 0612(V2003 5,121 .42 03/07/2003 409.32 0.00 2,563.00 Orclud Biosciences Inc 3,353.63 0612012003 4,612.60 06112/2003 (1,258 .97) 000 392-00 Overland Storage Inc. 8,086.57 06t2O/2003 8,145 64 06116r2003 (59 .07) 0.00 431.00 Oxford Industries Inc. 17,928 .75 06/20/2003 17,574 .80 05/30/2003 353 .95 000 92-00 PC - Tel Inc. 1,038.59 06120(2003 828 .40 03121/2003 210 .19 000 47.00 PC - Tel Inc. 530.59 0612(V2003 432 15 03/25/2003 98." 000 1,263-00 PC - Tel Inc. 14,258 .09 06/20/2003 11,821 .30 05/09/2003 2,436.79 0.00 756-00 PC - Tel Inc. 8,534.53 06/2012003 6,43356 03/19/2003 2,100.97 000 954.00 PC - Tel Inc. 10,769 .77 0612012003 8,453.01 0312012003 2,316.76 0.00 287.00 PC - Tel Inc. 3,239.96 062012003 2,58423 03/21/2003 655.73 0.00 65-00 PC - Tel Inc. 733 .79 06/20/2003 568.56 03/24/2003 165 .23 0.00 39.00 Packeteer Inc 562 .35 06120/2003 351 .59 01/10/2003 210.76 0.00 645-00 Packeteer Inc 9,300.46 06120/2003 5,785.13 02/26t2003 3,515.33 000 57-00 Palomar Medical Tech 270 .33 06/20/2003 24502 04/0412003 25.31 000 2,361 .LK) Palomar Medical Tech 11,197 .33 06/20/2003 10,79418 05/09/2003 413.15 0.00 578.00 Penwest Pharmaceuticals Co 11,010 .38 06/20/2003 10,20742 04123/2003 802 .96 0.00 259-00 Penwest Pharmaceuticals Co 4,93371 06/20/2003 4,725.69 05/09/2003 208.02 0.00 39-00 Praecis Pharmaceuticals Inc 176 .09 06120/2003 19036 05/02/2003 (14 .27) 000 2.842-00 Praecis Pharmaceuticals Inc 12,832 .03 06120/2003 13,82463 05/09/2003 (99260) 0.00 1,802.00 Peerless Systems Corp 4,475.50 W2012003 4,503 " 06/05f2003 (2794) 0.00 Dtiehaus Capital Management Friday January 23, 2004 16:56.36 Page 36 Gains and Loss Reportfrom 1110112002 to 1013112003 Accounti: 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

1,273.00 Peerless Systems Corp 3,161.66 06120/2003 3,205.43 0610612003 (43 .77) 0.00 2.294.00 Puma Technology Inc 7,670.30 06120/2003 9,317.01 05/29/2003 (1,646 .71) 000 2,50600 Puma Technology Inc 8,379.15 06/2=003 10,641 .46 06/0612003 (2,262 .31) 000 2,544-00 Puma Technology Inc 8,506.21 06120/2003 10,693 .35 O6tl6f2OO3 (2,187 .14) 0.00 971 .00 Radware Lid 16,571 .86 06120/2003 14,23156 O6tO6/2003 2,340.30 0.00 1,457.00 Radware Ltd 24,866 .32 06120/2003 23,21540 06/16/2003 1,650.92 0.00 438.00 Sciclone Pharmaceuticals Luc. 3,55565 06120/2003 3,09444 05/09/2003 471 .21 0.00 1,532.00 Sciclone Pharmaceuticals Inc. 12,43664 0612OV'2003 12,538.96 05/22/2003 (102.32) 0.00 50 00 Select Comfort Corp. 834 .11 06120/2003 609.83 04/29/2003 224.28 0.00 999-00 Select Comfort Corp 16,665 .53 06/20/2003 13,49829 04/30/2003 3,167.24 0.00 157 .00 Select Comfort Corp. 2,61911 06120/2003 2,125.78 05/01/2003 493.33 0.00 819.00 Secure Computing Corp Internet Sec Com 6,956.67 06120/2003 7,47010 06110/2003 (613 .43) 0.00 127 .00 Sharper Image Corp 3,440.62 06/20/2003 2,741.29 05/06/2003 69933 000 275.00 Sharper Image Corp. 7,450-17 06/20/2003 7,22629 06106/2003 223.88 0.00 509-00 Sharper Image Corp. 13,789 .59 06/20/2003 13,28490 06/09/2003 504.69 0.00 2,022.00 Sigma Designs Inc 18,661 .97 06120/2003 15,109 .40 05/06/2003 3,552.57 0.00 87400 Sina Corp 14,677 .35 06120/2003 8,476.75 04/15/2003 6,200.60 0.00 759 .00 Sina. Corp 12,746-12 06/20/2003 8,13648 04/16/2003 4,609.64 0.00 254 .00 Sma Corp 4,265.50 06/20/2003 2,969.36 04/24/2003 1,296.14 0.00 2,147.00 Sirius Satellite Radio Inc. 3,622.37 06/20/2003 3,371.53 05/30/2003 250.84 0.00 6,637.00 Sinus Satellite Radio Inc. 11,197 .78 06/20/2003 12,307.04 06102/2003 (1,109.26) 0.00 338.00 Sohu com Inc. 9,310.28 06/20/2003 1,928.76 11/25/2002 7,381 .52 0.00 765.00 Stratasys Inc 25,372 .93 06120/2003 26,601 .50 06(16/2003 (1,228 .57) 0.00 306.00 Staar Surgical Co. 3,261 .80 06r2O/2003 3,023.28 05/09/2003 238.52 0.00 57j.00 SunOpta Inc 3,668.75 06/2012003 2,188.36 OY2512003 1,480.39 0.00 761 .00 SunOpta Inc 4,872.46 06/20(2003 2,890.94 02/2612003 1,98152 000 528.00 SunOpta Inc 3,380.63 06/20/2003 2,003.96 02127/2003 1,376.67 0.00 1,822.00 SunOpta Inc 11,665 .74 06t2O/2003 8.99082 05/09/2003 2,674.92 0.00 1,284-00 SunOpta Inc 8,221 .08 06/20/2003 6,599.90 05/12/2003 1,621 .18 0.00 741 .00 Sensytech Inc 10,262 .36 06/20/2003 10,867.21 06116(2003 (60485) 0.00 1,141 .00 Sierra Wireless Inc 6,936.94 06120/2003 8,257.44 06118/2003 (1,320.50) 0.00 7,366.00 24n Real Media Inc. 7,194.55 06r2O/2003 8,352.67 0610412003 (1,158 12) 000 493.00 24n Real Media Inc 481 .52 06r2O/2003 615 .14 06(05/2003 (133 .62) 000 645.00 TiVo Inc. 6,182.61 0612012003 6,60345 0611912003 (420.84) 0.00 1,277.00 TiVc, Inc. 12,240 .61 06120/2003 12,89106 0611812003 (65045) 0.00 1,40000 TiVo Inc 13,419 .62 06(20/2003 14,333 .06 06/19/2003 (91344) 0.00 4,208.00 TLC Vision Corp 21,113 .29 06/20/2003 19,624.29 0610612003 1,48900 0.00 3,026-00 Turnbleweed Communications 7,244.97 06/20/2003 7,77421 06116/2003 (529 .24) 0.00 1,764-00 Tripath Imaging Inc. 11,453 .83 06/20/2003 11,007 .36 05/09/2003 446.47 0.00 2,422.00 Tripath imaging Inc. 15,726 .29 06/20/2003 16,740.86 05/13/2003 (1,014.57) 0.00 423.00 Tradestation Group Inc 4,141 .99 06120/2003 1,11214 03/10/2003 3,029.85 0.00 315-00 -1 rades tanon Group Inc 3,094.46 06/2Of2OO3 867 .44 03/19/2003 2,217.02 0.00

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931 .00 Tradestation Group Inc 9,116.29 06120/2003 5,734.96 05/0912003 3,381.33 000 5,025.00 Trinity Biotech Pic-spon Adr 14,547 .01 06/20/2003 15,848 .29 0611012003 (1,301 .28) 0.00 985 .00 Thestreet corn Inc 4,548.44 06120/2003 4,292.85 05/09/2003 255 .59 0.00 1,022.00 ThestreeLCOM Inc 4,719.29 06/20/2003 4,983.14 05/27/2003 (263 .85) 000 4,38000 Youbet corn Inc 13,63166 06f2Of2OO3 14,703 .28 05/O9f2OO3 (1,07162) 000 122.00 Ultrabfe Batteries Inc 1,123.56 06120/2003 1,19549 06tO4/2003 (7193) 0.00 2,810.00 ValueChck, Inc. 17,113 .20 06/20/2003 12,578.53 05/0212003 4,534.67 0.00 1,112.00 Vixel Corp 6,793.99 0612012003 6,441 .70 06109f2003 352.29 0.00 997 .00 Vixel Corp 6,091.38 06/20/2003 7,21300 06f 19/2003 (1,121 .62) 000 244 .00 Vitesse Semiconductor Corp. 1,317.77 06120f2003 1,451.53 06119/2003 (13376) 0.00 949 .00 Wireless Facilities, Inc. 9,23669 0612=003 7,34393 05/09/2003 1,892.75 0.00 28 00 Wireless Facilities, Inc. 30463 06120/2003 292 .24 06/02/2003 1239 0.00 230.00 Wireless Facilities, Inc. 2,502.28 06120/2003 2,39039 06/03/2003 111 .89 0.00 142 .00 Wireless Facilities, Inc. 1,544.89 06120/2003 t,499.51 0610412003 45 .38 000 1,769.00 SM&A 18,21983 06t2012003 17,988 .78 06t 16/2003 231 .05 000 665.00 World Acceptance Corp 10,24051 06/2042003 8,42309 05/21/2003 1,817.42 0.00 914.00 Westel Technologies Inc. - A 8,00096 06/20/2003 5,065.19 05/08/2003 2,935.77 0.00 2,359.00 Westel Technologies Inc. - A 20,65018 06120/2003 23,582 .45 06119/2003 (2,932 .27) 0.00 1,200.00 Qiao Xing Universal Tele Inc 12,62340 06/2012003 4,926.09 05/05/2003 7,697.31 0.00 649.00 Align Technology Inc 7,404.93 06123/2003 7,65074 06/1612003 (245 .81) 0.00 1,065.00 Biolase Tech Inc 11,399.22 06123/2003 7,401 .75 02/03/2003 3,"7.47 0.00 914.00 Biolase Tech Inc 9,78299 06123/2003 6,305.96 02/1812003 3,477.03 0.00 2,642.00 Ditech Communications 12,362.60 06t23/2003 11,233 .16 05/14/2003 1,129.44 0.00 1,343.00 Internet hctures Corp 6,479.40 06123/2003 6,39393 06120/2003 85 47 0.00 354.00 K V H Industries Inc 7,408.30 06/23/2003 4,217.91 03/27/2003 3,190.39 000 44.00 K V H Industries Inc 92081 06t23/2003 582 12 04/11/2003 33869 0.00 273 .00 Uonbndge Technologies Inc. 1,368.33 06123/2OD3 1,287.36 0610412003 80.97 000 229.00 Lionbndge Technologies Inc. 1,147.80 06(23/2003 1,137.56 06(05/2003 1024 0.00 1,013.00 Lionbndge Technologies Inc. 5,077.37 06/23/2003 4,935.86 06t12/2003 141 .51 0.00 570,00 Marvel Enterprises Inc. 10,897 .60 06123/2003 4,09340 O9f26t2OO2 6,80420 O.w 1,000.00 Petmedexpress .com Inc 4,22671 06t23/2003 5,088.79 06117/2003 (862 .08) 0.00 57000 Sharper Image Corp 14,648 .31 06123/2003 12,303 .45 05/06f2003 2,34486 0.00 43.00 Staar Surgical Co 44823 06f23f2OO3 28828 04114f2003 15995 0.00 784.00 Staar Surgical Co 8,17234 06/23/2003 7,74592 05/09/2003 426.42 000 1,941 .00 Ultralife Batteries Inc 17,341 39 06123/2003 18,04014 06/0412003 (698 .75) 0.00 63000 Westel Technologies Inc. - A 5,24815 O6f23f2OO3 3,31097 05/07f2003 1,937 19 0.00 1,495.00 Westel Technologies Inc. - A 12,453 .96 06/23/2003 8,28496 05/08/2003 4,169.00 000 1,377.00 Factual Data Corp 23,680.94 0&24/2003 18,88363 05/12/2003 4,79731 0.00 712.00 Factual Data Corp 12,24461 06/24/2003 13,79500 06123/2003 (1,55039) 0.00 932.00 Inkine Ph-irmaceutical Co 2,964.22 06124/2003 3,228.50 06/09/2003 (26428) 0.00 662.00 Petmedexpress com Inc 2,806.74 OV24/2003 3,368.78 06117/2003 (56204) 0.00 754.00 Tbcstreet .com Inc 3,275.04 06/24/2003 3,206.26 04/17/2003 68 .78 000 D.riehaus Capital Management Friday January 23, 2004 16:56:36 Page 38 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Descriptio Proceeds Date Cost Date Gain (- Loss) Premium Discount)

65000 Thestreet corn Inc 2,823.31 06/24/2003 2,832.85 05/09/2003 (9.54) 0.00 676.00 Ultrahfe Batteries Inc 6,303.39 06124/2003 4,831 .44 05/19/2003 1,471.95 0.00 74.00 Ultrahfe Batteries Inc 690.02 06124/2003 725.13 06104/2003 (35 .11) 0.00 1,416.00 Centilhurn Communications Inc 14,033 .73 06/25/2003 15,06001 05/28/2003 (1,026 .28) 000 22.00 K-Swiss Inc. - Cl . A 773 .14 06t25/2003 67374 05/062003 99.40 000 190.00 K-Swiss Inc. - Cl . A 6,677.10 06t25/2003 5,77220 05/09/2003 90490 000 28300 Netease cow Inc. ADR 8,828.33 06125/2003 1,30743 11/05/2002 7,520.90 000 354.00 Sobu corn Inc. 9,38113 06(2512003 2,020.07 1 lf25/2002 7,363.06 0.00 519 .00 Vitesse Semiconductor Corp. 2,516.66 06125/2003 3,087.48 06tl9/2003 (570.82) 0.00 236.00 Qiao Xing Universal Tele Inc 2,187.90 06t25/2003 96880 05/05/2003 1,21910 0.00 490.00 Qiao Xing Universal Tele Inc 4,542.67 062V2003 1,92109 05/0612003 2,621.58 0.00 1,642.00 Qiao Xing Universal Tele Inc 15,22259 06/25/2003 6,219.69 05/09/2003 9,002.90 0.00 1,070.00 Cyberguard Corp 7,47070 06/2612003 7,58844 06/09/2003 (117 .74) 0.00 913.00 Chronimed Inc. 8,756.25 06/26/2003 7,85180 05/09/2003 904.45 0.00 89.00 Concur Technologies Inc. 880.03 0612612003 44322 03/18nOO3 436.81 0.00 2,014.00 Concur Technologies Inc. 19,914.29 06/26/2003 10,632 .37 03/31/2003 9,281.92 0.00 521 .00 Concur Technologies Inc 5,15161 0612612003 2,698.10 04/0112003 2,453.51 0.00 207-00 Concur Technologies Inc. 2,046.80 0612612003 1,294.22 05/0912003 75258 0.00 1,321.00 E-Loan Inc. 7,387.41 06/26/2003 5,551 .34 05/07/2003 1,83607 0.00 815.00 E-Loan Inc. 4,557.71 06126/2003 3,40996 05/09/2003 1,147.75 0.00 70800 Marvel Enterprises Inc 13,624 .17 06/26/2003 5,084.43 09/26/2002 8,539.74 0.00 170.00 Omega Protein Corp. 894.49 06/2612003 876 .78 03/07/2003 17.71 0.00 1,781.00 Omega Protein Corp. 9,371 .11 06/2612003 9,019.35 05/09/2003 35176 0.00 1,536 C!'! Praecis Pharmaceuticals Inc 6,83002 O6f26f2OO3 6,832.66 02/2V2003 (2 .64) 0.00 233 .00 Praccis Pharmaceuticals Inc 1,036.06 06/26/2003 1,133.41 05/09/2003 (97 .35) 0.00 1,379.00 World Acceptance Corp. 22,007.80 06/26t2003 17,466 .83 05/21/2003 4,54097 000 388 .00 Cyberguard Corp 2,729.95 06127/2003 2,751.70 06109(2003 (21 .75) 0.00 611 .00 Cyberguard Corp 4,298.97 06/27/2003 4,328.94 0611012003 (29-97) 0.00 851 .00 Magma Design Automation 14,800.74 06/27/2003 14,10873 05/06/2003 69201 0.00 213.00 Marvel Enterprises Inc. 4,018.14 06/2712003 1,529.64 09/2612002 2,488.50 0.00 285 .00 Oxford Industries Inc. 11,25697 06127/2003 11,621 .39 05/30/2003 (364.42) 000 482.00 Westel Technologies Inc. - A 4,007.20 06t27/2003 1,863.54 03/21/2003 2,143.66 0.00 136 .00 Westel Technologies Inc. - A 1,130.66 0612712003 542 .39 03/2412003 588.27 0.00 813 .00 Westel Technologies Inc. - A 6,759.04 06/27/2003 4,272.72 05/07/2003 2,486.32 0.00 709.00 Aceto Corp . 13,22094 0613012003 6,397.07 11/13/2002 6,82387 0.00 1,904.(- Acres Gaming Inc. 21,271 .05 0660/2003 13,067 53 02/20/2003 8,20352 0.00 381.00 Acres Gaming Inc. 4,25644 06130/2003 2,62753 02/21/2003 1,628.91 0.00 1,404.00 Acres Gaming Inc. 15,685.17 06/3012003 9,75822 02/28/2003 5,92695 0.00 709.00 Flamel Technologies-sp Adr 9,528.44 0613012003 7,42770 05/2212003 2,100.74 0.00 570.00 Magma Design Automation 9,803.59 0660(2003 9,45003 05t06t2003 353 .56 0.00 505.00 Ask Jeeves Inc 6,546-06 07/0112003 1,518.79 01/03/2003 5,027.27 0.00 ij70.00 Ask jeeves Lnc 15,166.11 OT101/20103 1 1,5524 .50 005,109,-=' -,64 . V-l 0.00

0 0 0 0 9 0 0 0 9 -0 - 0 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 39 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

319.00 Ask Jeeves Inc 4,135 03 07/01/2003 4,272.81 06117/2003 (137 .78) 0.00 2,393.00 E-Loan Inc. 12,86976 07/01/2003 10,012.31 05/09/2003 2,85745 0.00 2,942.00 Intraware Inc 3,282.19 07101/2003 5,46210 06105/2003 (2,179 .91) 0.00 560.00 Aceto Corp. 10,08282 07/02/2003 5,052.69 11/13/2002 5,03013 0.00 332 .00 Dynanuc Oil & Gas Inc. 1,21539 07/02/2003 1,08014 04/16/2003 135 .25 000 30-00 Dot Hill Systems Corp 45448 07/02/2003 13661 03/10/2003 317 .87 000 254.00 Dot HLU Systems Corp 3,847.92 07/02/2003 1,254.51 03/11/2003 2,593.41 0.00 885 .00 Dot Hill Systems Corp 13,407 .11 07/0212003 11,35614 06/24/2003 2,050.97 0.00 2,168.00 Internet Pictures Corp 8,503.08 07/0212003 8,244.72 05/12/2003 258.36 0.00 1,446 1* Internet Pictures Corp 5,671.33 07/02/2003 6,884.31 06/20r2003 (1,212 .98) 0.00 9.00 Marvel Enterprises Inc. 168.76 07/0212003 64.63 09/26t2002 10413 0.00 49.00 Sina Corp 1,120.58 07/02/2003 475.24 04/15/2003 645.34 000 496.00 Sma Corp 11,342.98 07/0212003 9.198.32 06130/2003 2,144.66 0.00 327 .00 Sohu com Inc. 11,202.49 07/0212003 1,865.99 11/25/2002 9,336.50 0.00 389 .00 Aceto Corp. 7,334.09 07/0312003 3,509.82 11/13/2002 3,824.27 000 778.00 Central European Distribution Corp. 16,026.04 07/03/2003 16,154 .81 05/06/2003 (128 .77) 0.00 997 .00 Central European Media Ent. - A 21,823 .30 07/03/2003 15,674 .14 05/09/2003 6,149.16 0.00 778.00 Ciphergen Biosystems Inc. 7,750.46 (Y7/0312003 4,95851 05/0912003 2,791 .95 0.00 1,064.00 China Yuchai Intl. Ltd. 6,91695 07/03/2003 9,027.19 0611712003 (2,110.24) 0.00 845 .00 Internet Pictures Corp 3,297.60 07/03/2003 3,213.46 05/12/2003 84 .14 0.00 55-00 Oxford Industries Inc. 2,324.96 07/0312003 2,147.40 05/14/2003 177 .56 0.00 101.00 Oxford Industries Inc. 4,269.47 07/03/2003 4,11846 05/30/2003 151 .01 0.00 187.00 Puma Technology Inc 635 .49 (Y7/03/2003 759.49 05/29/2003 (124.00) 0.00 256.00 Starcraft Corp 4,853.53 07/03/2003 5,898.85 06125/2003 (1.045 .32) 0.00 63400 SM&A 7,534.73 07/03/2003 7,05002 06125/2003 484.71 0.00 144 .00 SM&A 1,711.36 07/03/2003 1,610.28 06126/2003 101 .08 0.00 545-00 American Home Mtg Holdings 10,570.37 07/07/2003 10,663 .25 06116/2003 (92.88) 0.00 253.00 Align Technology Inc 3,576.49 07/07/2003 2,982.49 0611612003 59400 0.00 382.00 China Yuchai Intl. Ltd. 2,520.62 07/07/2003 2,75040 06tl2/2003 (229 .78) 0.00 682-00 China Yuchai Ind. Ltd 4,50016 07/07/2003 5,78622 0611712003 (1,286.06) 0.00 569-00 Dynamic Oil & Gas Inc. 2.034.38 07/07/2003 1,851 .21 04/16/2003 183 .17 0.00 354.00 Dynamic Oil & Gas Inc. 1,265.68 07/0712003 1,117.76 05/09/2003 147 .92 0.00 39.00 Enterra Energy Trust 677 .01 07/07/2003 264.70 12/1312002 412.31 0.00 358-00 Enterra Energy Trust 6,214.58 07/07/2003 3,587.16 05/09/2003 2,627.42 000 899-00 Internet Pictures Corp 3,533.19 07/07/2003 3,418.82 05/1212003 114 .37 0.00 4,775.00 Orchid Biosciences Inc 5.929.04 07/07/2003 8,59351 0611212003 (2,664.47) 0.00 593-00 Starcraft Corp 11,376.58 07/07/2003 13,66414 O6f25/2003 (2,287 .56) 0.00 777.00 TiVo Inc. 9,979.31 07/07/2003 9,521 .05 06/27/2003 458.26 0.00 3300 SM&A 399.14 07/07/2003 335.57 06tl6/2003 63 .57 0.00 289.00 SM&A 3,495.46 07/07/2003 3,21365 06125/2003 281 .81 0.00 642-00 Able Laboratories Inc 13,012.73 07/0812003 12,700 .49 06t0412003 312.24 0.00 164-00 Able Laboratories Inc 3,324.12 07/0812003 3,391 .88 06tO5/2003 (67 .76) 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 40 Gains and Loss Reportfirom 1110112002 to 1013112003 Accouat. 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Unamortized Bond Quantity Security Descrintion Proceeds Date Cost Date Gain (- Loss) Pren-durn Discount)

196.00 Aceto Corp. 3,959.19 07/08t2003 1,76844 11/13/2002 2,19075 0.00 28.00 Align Technology Inc 373.64 07/0812003 257-18 05/21/2003 11646 000 527.00 Align Technology Inc 7,032.38 07/08/2003 6,212.54 0611612003 819 .84 0.00 195 .W Central European Distribution Corp. 3,841.32 07/08/2003 3,201 .52 04/1612003 639 .80 0.00 305.00 Central European Distribution Corp 6,00821 07108f2003 6,333.19 05/06t2003 (324.97) 0.00 636.00 China Yuchai Intl . Ltd 4,331.78 07/08/2003 4,579.20 0611212003 (24742) 0.00 49400 Dynariuc Oil & Gas Inc. 1,678.87 07/08/2003 1,559.81 05/09/2003 119 .06 0.00 435.W Entma Energy Trust 8,096.66 07/08/2003 2,841 .33 12112/2002 5,255.33 0.00 62.00 Enterra Energy Trust 1,154.01 07/08/2003 42081 12/13/2002 733 .20 0.00 43.00 Gevity Hr Inc 532.31 07/08/2003 341 .16 04/09/2003 191 .15 0.00 687.00 Gevity Hr Inc 8,504.65 07/0812003 8,33592 06/2412003 168 .73 0.00 134 .00 Gevity Rr Inc 1,658.84 07/08/2003 1,673.20 06(25/2003 (1436) 000 255.00 Dot Hill Systems Corp 3,905.42 07/08/2003 1,123.01 02/20/2003 2,78241 000 656.W Dot Hill Systems Corp 10,04689 0710812003 2,987.29 03/10/2003 7,059.60 0.00 628.00 Orchid Biosciences Inc 74416 07/08/2003 1,13020 06/12/2003 (386.04) 0.00 379 .00 Praecis Pharmaceuticals Inc 1,819-25 (Y7/09/2003 1,69592 0212V2003 132.33 0.00 1,893.00 Praecis Pharmaceuticals Inc 9,081 .64 07/08/2003 7,88622 02nAI2003 1,195.42 0.00 1,411 .00 Praecis Pharmaceuticals Inc 6,769.25 07/08/2003 5,996.00 04/01/2003 77325 0.00 480.00 Praecis Pharmaceuticals Inc 2,302.79 07/08/2003 2,110.22 04/02/2003 19257 0.00 189 .00 Sina Corp 4,783.44 07108/2003 1,665-26 03f26r2OO3 3,119.18 0.00 214.00 Sina Corp 5,416.17 07/08/2003 2,075.54 04/15/2003 3,340.63 0.00 7,737.W Sirius Satellite Radio Inc. 13,206 .79 07/08/2003 12,14976 0513012003 1,057.03 0.00 435.00 TiVo Inc. 5,417.53 07/0812003 5,33032 06/27/2003 87.21 0.00 l,"1.00 Thestreetcorn Inc 7,214.08 07/08/2003 5,677-14 0411612003 1,53694 0.00 762.00 Thestreet.com Inc 3,814.80 07/08/2003 3,240.28 04/17/2003 574.52 0.00 721 .00 YoubeLcom Inc 1,961 .92 07/08/2003 1,776.67 04/15/2003 185 .25 0.00 1.127 .00 YoubeLcom Inc 3,06670 07/08/2003 3,78324 05/09/2003 (716.54) 0.00 2,009.00 Youbetcom Inc 5,466.72 07/08/2003 6,723.26 06104/2003 (1,25654) 0.00 904.00 SM&A 10,849 .92 07/08/2003 6,016.66 04/28/2003 4,833.26 0.00 263.00 SM&A 3,156.56 07/08/2003 2,674.42 0611612003 482.14 000 227.00 DICK S SPORTING GOODS INC 8,871.26 07/09f2003 2,97100 10116/2002 5,900.26 0.00 343.00 Gevity Hr Inc 4,434.78 07/09/2003 2,721.33 04109/2003 1,713.45 0.00 349.00 I-Flow Corp . 2,889.58 07/0912003 2,439.75 06/27/2003 449.83 0.00 614.00 Bankrate Inc 9,099.23 07/09/2003 7,10969 06r2612003 1,989.54 0.00 774.00 Radware Ud 15,247 .08 07/09/2003 11,34421 0610612003 3,902.87 0.00 246.00 SunOpta Inc 1,839.77 07/09/2003 913 .69 W2012003 926.08 0.00 88.00 SunOpta Inc 658.13 07/09/2003 333-99 02127/2003 324.14 000 439.00 SunOpta Inc 3,283.17 07/09/2003 1,635.28 03/13/2003 1,647.89 000 345.00 SunOpta Inc 2,580.17 07/09/2003 1,279-85 03/14/2003 1,300.32 0.00 349.00 TiVo Inc. 4,270.68 07/09/2003 3,523-09 06118/2003 747.59 000 570.00 TiVo Inc 6,975.04 07/09/2003 6,984.55 06/27/2003 (9.51) 0.00 4,964.00 Youbet com Inc 13.19408 07/09/2(X)3 12,232-15 (OW 15/2003 951 .93 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 41 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056501 -- RICHARD H. DRIEHAUS FOUNDA TION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantity Secu ri ty Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

768 .00 Columbia Laboratories Inc. 9,99658 07/10/2003 8,872.55 06126t2003 1,12403 0.00 969.00 Flamel Technologies-sp Adr 16,29665 07/10/2003 9,438.06 05/2112003 6,858.59 0.00 191.00 Flame] Technologies-sp Adr 3,21224 07/1012003 2,00097 05/22/2003 1,21127 0.00 769.00 Dot Hill Systems Corp 12,05343 07/10/2003 3,38666 02/20/2003 8,666.77 0.00 591 .00 ]-Flow Corp . 4,993.30 07/10/2003 4,131 .50 06127t2OO3 861 .80 0.00 177.00 Baukrate Inc 2,438.94 07/1012003 1,960.66 06/25/2003 478.28 0.00 129.00 Bankrate Inc 1,777.54 07/10/2003 1,493.73 06126/2003 283 .81 000 363 .00 Sohu com Inc. 13,96155 07110/2003 13,864 .82 07/08/2003 96.73 0.00 115 .00 Stratasys Inc 4,691 .79 O7/IOf2OO3 2,540.35 05/09f2003 2,151.43 0.00 270.00 Stratasys Inc 11,015 .48 07/10/2003 9,38876 0611612003 1,626.72 0.00 602.00 SM&A 7,090.80 07/1012003 3,565.72 04/02f2003 3,525.08 0.00 4100 SM&A 482.93 07/10/2003 272.88 04/28/2003 210.05 0.00 409.00 Flamel Technologies-sp Adr 6,75264 07/1112003 3,852.78 04/2212003 2,899.86 0.00 360.00 Flamel Technologies-sp Adr 5,94364 07/11/2003 3,506.40 05/21/2003 2,437.24 0.00 384.00 K V H Industries Inc 8,779.32 07/11/2003 4,575.36 03/27/2003 4,203.96 000 1,403.00 SunOpta Inc 10,03055 07/11/2003 5,021 .19 02/14/2003 5,009.36 0.00 5.00 SunOpta Inc 35.75 Or7/11/2003 17 .60 02/18/2003 18.15 0.00 130.00 SunOpta Inc 92942 07/11/2003 482.26 03/14/2003 447.16 0.00 307 .00 Usanalnc 13,585 .98 07/11/2003 12,40157 06r25/2003 1,18441 0.00 349 .00 Flamel Technologies-sp Adr 6,143.26 07/1412003 3,287.58 04/2212003 2,855.68 0.00 805 .00 Flamel Technologies-sp Adr 14,16999 07/1412003 6,914.95 O5/O9f2OO3 7,255.04 0.00 499 .00 Dot H ill Systems Corp 8,169.39 07/14/2003 2,197.58 02/20/2003 5,971.81 0.00 388-00 Dot Hill Systems Corp 6,352.15 07/14/2003 1,704.64 O2/2lf2OO3 4,647.51 0.00 100.00 Jos A Bank Clothiers Inc 4,18586 07/14/2003 2,592.00 05/09/2003 1,59386 000 34700 Drugstore corn Inc 1,858.61 07/15/2003 1,73651 06/02/2003 12210 0.00 1,61600 Drugstore.corn Inc 8,655.66 07/15/2003 10,801 .18 07/07/2003 (2,145 .52) 0.00 615 .00 Penwest Pharmaceuticals Co 13,286 .75 07/15/2003 12,381 .61 06/24/2003 905.14 0.00 1,201.00 SunOpta Inc 7,54793 07/1512003 4,228.45 02/18/2003 3,31948 000 1,283-00 Sensytech Inc 22,35997 07/15/2003 18,140.47 06/12/2003 4,21950 0.00 277.00 Sensytech Inc 4,827.52 07/15/2003 4,062.37 06tl6/2003 765.15 0.00 335-00 Tradestation Group Inc 4,05967 07/15/2003 836 .97 03/07/2003 3,222.70 000 554.00 Tradestation Group Inc 6,713.61 07115/2003 1,45656 0311012003 5,257.05 0.00 273 .00 Tradestation Group Inc 3,308.33 07/15/2003 695 82 03/1212003 2,61251 0.00 723 .00 Align Technology Inc 9,185.85 07/16/2003 6,640.76 05/2112003 2,545.09 0.00 319.00 CollaGenex Pharmaceuticals 4,01123 07/16/2003 4,19131 06/26/2003 (180 .08) 0.00 604-00 CollaGenex Pharmaceuticals 7,594.94 07/16f2OO3 8,693.55 O`1/O9f2OO3 (1,098 .61) 0.00 1,720.00 E-LA)an Inc. 10,698 .06 07/16r2003 7,196 48 05/09/2003 3,501 .58 000 1,406-00 E-Loan Inc. 8,74504 Or7/1612003 9,94478 07/14/2003 (1,19974) 0.00 57-00 Flamel Technologies-sp Adr 1,074.66 07/16/2003 343 .08 03/25/2003 731 .58 0.00 61.00 Flamel Technologies-sp Adr 1 . ISO 07 07/16f2003 401 .39 O3f26f2OO3 748.69 0.00 651 .00 Flamel Technologies-sp Adr 12,273 .70 0711612003 5,592.09 05/09/2003 6,681 .61 0.00 1,203-00 Bankrate Inc 17,504 .38 07/16/2003 13,325 .87 06125/2003 4,178.51 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 42 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase RedUed Unarnortized Bond Ouantity Security Descriptio Proceeds Date cost Date Gain (- Loss) Premium Discount)

53 .00 Stratasys Inc 2,247.57 07/16/2003 581.77 02/20/2003 1,66580 0.00 181 .00 Stratasys Inc 7,675.65 07/1612003 3,998.29 05/09/2003 3,677.36 000 812.00 Wireless Facilities, Inc 9,466.33 07/1612003 7,02388 05/0912003 2,442.45 0.00 1,045.00 Amencan Home Mtg Holdings 19,461 .37 07/17/2003 15,586 .18 05/22/2003 3,875.19 0.00 8000 Amencan Home Mtg Holdings 1,489.87 07/17/2003 1,565.25 06/16/2003 (75 38) 0.00 190.99, Align Technology Inc 2,172.25 07/17/2003 1,745.15 05/21/2003 427.10 0.00 1,153.00 Ask Jeeves Inc 17,04918 07/17/2003 18,319 .90 07/07/2003 (1,270 .72) 0.00 700.00 Central Ekwopean Distribution Corp . 13,85045 07/17/2003 11,492 .62 04/16/2003 2,35783 0.00 557.00 K V H Industries Inc 11,787 .40 07/1712003 6,112.91 01/06f2003 5,674.49 0.00 21 .f~'O K V H Industries Inc 444.41 07/17/2003 25021 03/2712003 194.20 000 462.00 Netease corn Inc. ADR 16,502 .65 07/17/2003 16,789 .40 06(30/2003 (286 .75) 0.00 457.00 Radware Ltd 7,765-11 07/17/2003 6,05827 05/09/2003 1,706.84 0.00 31600 Radware Ltd 5,369.31 07/17/2003 4,631.49 06/06t2003 73782 0.00 1,14400 Sma Corp 28,720 .14 07/17/2003 10,07967 03/26/2003 18,640.47 0.00 1,297.00 Tradestation Group Inc 13,876 .72 07/17/2003 3,240.47 03/07/2003 10,636.25 0.00 926.00 Tradestation. Group Inc 9,907.36 07/1712003 2,321.68 03/11/2003 7,585.68 0.00 217.00 ValueChck. Inc. 1,415.66 07/17/2003 971.37 05/0212003 444.29 0.00 1,097.00 ValueChck, Inc. 7,156.60 07/17/2003 4,717.12 05/09/2003 2,439.48 0.00 136.00 Wireless Facilities, Inc. 1,549.89 07/17/2003 1,176.41 05/09/2003 373.48 0.00 209.00 Wireless Facilities, Inc. 2,381 .82 07/17/2003 1,807.87 05/0912003 57395 0.00 732.00 City Telecom (h .k.) Ltd-adr 4,480.64 07/18/2003 5,465.92 07/09/2003 (985 .28) 0.00 207.00 K V H Industries Inc 3,951 .40 07/18/2003 2,271.76 01/0612003 1,679.64 0.00 693.00 Packeteer Inc 9,306.00 07/18/2003 4,613.09 11/13/2002 4,692.91 0.00 244.00 Packeteer Inc 3,276.57 07/1 &'2003 2,188.48 02/26/2003 1,08809 0.00 231.00 Packeteer Inc 3,102.00 07/1&'2003 2,01668 02/27/2003 1,085.32 0.00 1,371.00 Secure Computing Corp Internet Sec: Com 12,49223 07/18/2003 12,504.89 06f][012003 (12.66) 0.00 272.00 ValueChck, Inc. 1,681 .89 07/18/2003 1,169.61 05/09/2003 512.28 0.00 163.00 Ask Jeeves Inc 2,483.19 07/21/2003 490.22 01/03/2003 1,992.97 0.00 59.00 Ask Jeeves Inc 898 82 07/2112003 937.45 0710712003 (38.63) 0.00 277.00 Candela Corp . 3,976.15 07/21/2003 3,905-64 07/15/2003 70.51 0.00 200.00 Enterra Energy Trust 3,495.23 07/21/2003 1,306.36 12112/2002 2,188.87 0.00 94.00 Enterra Energy Trust 1,642.76 07/21/2003 503.94 11/20/2002 1,13882 0.00 196.00 Enterra Energy Trust 3,425.33 07/21/2003 1,112.57 11/21/2002 2,312.76 000 96.00 Enterra Energy Trust 1,677.71 07/21/2003 578.88 12/11/2002 1,098.83 000 397.00 Enterra Energy Trust 6,93804 07121/2003 2,593.12 12/12./2002 4,344.92 0.00 319.00 Faro Technologies Inc 2,783.14 07/21/2003 2,55095 07/08/2003 232.19 0.00 176.00 M Systems FIsh Dsk Pionr 2,208.69 07/21/2003 2,394.41 07/14/2003 (18572) 0.00 259.00 Laserscope 2,235.06 07/21/2003 2,290.78 07/21/2003 (55.72) 0.00 1,011.00 Staar Surgical Co. 11,748 .68 07121/2003 12,999 .44 07/01/2003 (1,25076) 0.00 119.00 Staar Surgical Co. 1,382.88 07/21/2003 1,686.13 07/02/2003 (30325) 0.00 756.00 SM&A 8,366.93 07/21/2003 4,477.88 04102/2003 3,889.05 0.00 I Aqq 0~1 1,35000 Cenhilnim Communications Inc 12,91186 007122,12003 16,335 .68 071008r.003 0.00

11D 0 0 0 0 0 0 0 0 0 0 0 0

Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 43 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouanti Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount) 3,191.00 Asialnfo Holdings Inc 24,630 .16 07/23/2003 28,962 .79 07/01/2003 (4,332.63) 0.00 1,79600 City Telecom (h.k.) Ltd-adr 10,685.69 07/23/2003 13,328 .12 07/08t2003 (2,642.43) 0.00 227.00 City Telecom (h k.) Ltd-adr 1,35058 07/23/2003 1,695.03 07/09/2003 (344.45) 0.00 981 .00 Cenuffium Communications Inc 8,90706 07/23/2003 8,29543 05/09/2003 611 .63 000 900.00 Centilhurn Communications Inc 8,171 .61 07/23/2003 9,572.04 05/28/2003 (1,40043) 000 423.00 Centillitun Communications Inc 3,840.66 07/23/2003 5,11851 07/08/2003 (1,277.85) 0.00 93000 KCS Energy Inc. 4,585.33 (Y7/23/2003 5,512.76 07/14/2003 (927.43) 000 1,147.00 Emerson Radio Corp 7,05279 07/23/2003 8,504.20 06111/2003 (1,451 .41) 000 774.00 Emerson Radio Corp 4,759.25 07/23/2003 5,959.26 06tl2J2003 (1,200.01) 0.00 9,586.00 Sinus Satellite Radio Inc. 15,13164 07/23/2003 15,053 .33 05/30/2003 78.31 000 2,251 .00 Westel Technologies Inc. - A 17,355.06 07123/2003 8,456.84 03/20/2003 8,898.22 0.00 1,034.00 Westel Technologies Inc. - A 7,972-07 07123/2003 3,99772 03/21/2003 3,974.35 0.00 6.00 KCS Energy Inc. 29.36 07/2412003 27.03 05/22/2003 2.33 0.00 608.00 KCS Energy Inc 2,974.98 07r24/2003 3,60404 07/14/2003 (62906) 0.00 3,792.00 E-Loan Inc. 18,330.00 07/25/2003 11,34753 04/03/2003 6,982.47 0.00 1,89400 E-Loan Inc. 9,155.33 07/25/2003 6,773.10 04/21/2003 2,38223 0.00 2,160.00 E-Loan Inc. 10,441.14 07125/2003 8,254.10 05/06/2003 2,187.04 000 194.00 E-Loan Inc. 937.77 07/25/2003 811.70 05/09/2003 126.07 000 768.00 Flamel TochnoIogies-sp Adr 16,710.89 07128/2003 4,622.51 03/25/2003 12,088 .38 000 779.00 The Bombay Company Inc. 7,76626 07/29/2003 8,47669 06105/2003 (710.43) 0.00 606.00 Brookstone Inc 13,216.23 07/29/2003 13,404.72 07/07/2003 (188.49) 0.00 24.00 Brookstone Inc 523.42 07/2912003 53040 07/08/2003 (6.98) 0.00 269.00 Ciphergen Biosystems Inc. 2,175 00 07/29/2003 1,71444 05/09/2003 460.56 0.00 1,652.00 Ciphergen Biosystems Inc. 13,357.27 07129/2003 10,528.86 05/09/2003 2,82841 000 2,41400 Cell Therapeutics Inc. 26,61068 07/29/2003 27,775 .97 07/09/2003 (1,16529) 000 889.00 Emerson Radio Corp 5,503.71 07/29/2003 6,591.31 06111/2003 (1,087.60) 000 629.00 Online Resources Corp 3,462.92 07/29/2003 4,09599 06/30/2003 (633.07) 0.00 305.00 Packeteer Inc 4,044.10 07/29/2003 2,030.29 11/13/2002 2,013.81 0.00 602.00 Sciclone Pharmaceuticals Inc. 4,773-51 0712912003 3,644.03 03/27/2003 1,129.48 0.00 307.00 Sciclone Pharmaceuticals Inc. 2,434.33 07/29/2003 1,867.63 03/2812003 566.70 0.00 1,007.00 Sciclone Pharmaceuticals Inc. 7,984.92 07/29/2003 7,091 .39 05/09/2003 893.53 0.00 355-00 Secure Computing Corp Iniernet Sec Com 3,20904 07/29/2003 3,23796 06/10/2003 (28.92) 0.00 951.00 Sirius Satellite Radio Inc. 1,69620 07129/2003 1,49340 05/30/2003 20280 0.00 1,237.00 Trinity Biotech Pic-spon Adr 2,923.63 07/29/2003 2,756.99 03/18t2OO3 16664 000 3,306.00 Trinity Biotech Plc-spon Adr 7,81368 07129/2003 8,147.70 05/09/2003 (334.02) 000 65.00 Trinity Biotech Pic-spon Adr 15363 07/29/2003 20500 06/10/2003 (51 .37) 0.00 947.00 Checkers Drive-in Restaurant 8,896.37 07/30/2003 9,42025 06130/2003 (523.88) 000 1,39200 Hamel Technologies-sp Adr 26.437.01 07/30/2003 8,378.30 03/25/2003 18,05871 000 1,772.00 Inkine Pharmaceutical Co 5,525.85 07/3012003 6,138.32 06109/2003 (61247) 0.00 558.00 Online Resources Corp 2,998.88 07130/2003 3,52260 06127/2003 (52372) 0.00 447.00 Online Resources Corp 2,402.33 07/30/2003 2,91082 06/3012003 (50849) 0.00 2,418.00 PC - Tel Inc. 27,655 .05 07/30/2003 31,999 .33 07/0&-2003 (4,34428) 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 44 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHA US FOUNDA TION-MICROCAP

Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

9100 PC - Tel Inc. 1,04078 07/30/2003 1,17025 07/21/2003 (129 .47) 0.00 1,153.00 PC - Tel Inc. 13,187.04 07/30/2003 16,26399 07/24/2003 (3,07695) 0.00 61400 Vital Images Inc 13,439 .76 07/30/2003 11,57255 06/2612003 1,867.21 0.00 308 .00 Checkers Drive-in Restaurant 3,329.32 07/3112003 3,425.55 06130/2003 (9623) 0.00 2,015.00 Inkine Pharmaceutical Co 6,43765 07/31/2003 6,98008 0610912003 (54243) 0.00 53.00 Inkine Pharmaceutical Co 169 .33 07/3112003 175 .86 06/10/2003 (6.53) 0.00 843 .00 Online Resources Corp 4,551 .98 07/31/2003 5,321 .77 06/27/2003 (769 .79) 0.00 763 .00 PC - Tel Inc. 8,688.02 07/31/2003 6,493.13 03/19/2003 2,194.89 0.00 198.00 PC - Tel Inc 2,254.56 07/31/2003 2,54626 07121/2003 (291 .70) 0.00 772 .00 TLC Vision Corp 5,028.87 07/31/2003 3,932.81 07/11/2003 1,09606 000 3,088.00 TLC Vision Corp 20,115 .49 07/31/2003 17,741 .11 07/23/2003 2,37438 0.00 542A Usanalnc 19,77871 07/31/2003 21,894.63 06125/2003 (2,115 .92) 000 769 .00 Biolase Tech Inc 9,177 27 08/01/2003 12,254.02 07/24/2003 (3,07675) 0.00 510.00 Ciphergen Biosystems Inc. 4,005.04 08/01/2003 3,250.43 05/09/2003 75461 0.00 641 .00 Ciphergen Biosystems Inc. 5,033.79 08/0112003 3,929.33 05/21/2003 1,10446 0.00 93.00 Centillium Communications Inc 844 .40 08/01/2003 541 .10 04/23/2003 303.30 0.00 54.00 Centillitun Communications Inc 490.29 08/01/2003 456.63 05/09/2003 33.66 0.00 135.00 Drugstore.com Inc 758.66 08/01/2003 675 59 O6tO2/2003 83 07 0.00 204.00 Hams Interactive, Inc. 1,409.57 08/01/2003 1,640.55 07/29/2003 (230.98) 0.00 81.00 Innovex Inc. 1,16067 08101/2003 737.10 05/09/2003 423.57 0.00 256.00 Mobility Electronics Inc 1,690.43 08/01/2003 1,642.73 07/23/2003 47.70 0.00 394.00 Online Resources Corp 2,063.00 OV0112003 2,487.28 06/27/2003 (42428) 0.00 100.00 Osteotech Inc. 1,357.14 08/01/2003 1,526.27 07/09/2003 (169 .13) 0.00 196 AN Performance Tech Inc 2,110.82 08/01/2003 1,901.59 07/0812003 209 .23 0.00 107 .00 Select Comfort Corp. 2,22335 08/01/2003 2,17390 07/10/2003 49.45 0.00 760.00 Staar Surgical Co. 7,988 13 08/0112003 5.095 .12 04/14/2003 2,893.01 0.00 463 .00 Staar Surgical Co. 4,86645 08101/2003 5,953.25 07/01/2003 (1,086.80) 0.00 15100 Sierra Wireless Inc 1,479.73 08/01/2003 1,33937 07/2412003 140 .36 0.00 123.00 Tripath Imaging Inc 844.96 08101/2003 923.74 07/0212003 (78 .78) 0.00 174.00 ValueCbck, Inc. 1,368.75 08101/2003 748.20 05/09/2003 620.55 0.00 216.00 SM&A 2,03462 08/01/2003 1,279.39 04/0212003 755 .23 0.00 446.00 Axeda Systems Inc 728 .68 08/01/2003 825.77 07/09/2003 (97 .09) 0.00 247 .00 Online Resources Corp 1,30696 08/0412003 1,559.29 06t27/2003 (252.33) 0.00 371 .00 Radware Lid 5,75542 08/04/2003 4,701 .42 04/30/2003 1,05400 0.00 789.00 Radware Ltd 12,23997 0810412003 10,45946 05/09/2003 1,780.51 0.00 720.00 Sciclone Pharmaceuticals Inc. 4,93897 08/04/2003 4,021 .20 03/17/2003 917 .77 0.00 152.00 Sciclone Pharmaceuticals Inc. 1,042.67 08104/2003 820.69 03/18/2003 221 98 0.00 661 .00 Sciclone Pharmaceuticals Inc. 4,534.24 08104/2003 4,001 .17 03/27/2003 533 .07 0.00 95400 Staar Surgical Co. 10,53357 08/0412003 6,395.71 04/14/2003 4,137.86 0.00 2,040.00 TiVo Inc. 20,41189 0810412003 18,156 .00 05/30/2003 2,255.89 0.00 264.00 TiVo Inc. 2,641.54 08/0412003 2,665.03 06118/2003 (23.49) 0.00 23.00 Ciphergen Biosystems Inc. 166.4-7 08105rZ003 131 .10 "0212003 3j 371 0.00

0 0 0 0 0 0 0 Driehaus Capital Management Friday January 23, 2004 16.56:36 Page 45 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Descrii3tion Proceeds Date Cost Date Gain (- Loss) Premium f- Discount)

892.00 Ciphergen Biosysterns Inc. 6,45607 08/05/2003 5,467.96 05/21/2003 988.11 0.00 550.00 Sciclone Pharmaceuticals Inc. 3,723.32 08/0512003 2,96962 03/18/2003 753.70 0.00 622.00 Sigma Designs Inc. 6,120.19 08105/2003 3,959.84 04/11/2003 2,160.35 0.00 150.00 Sigma Designs Inc 1,475.93 Oa/05/2003 1,120.88 05/06/2003 355.05 0.00 517.00 Staar Surgical Co. 5,896.62 08/05/2003 3,466.02 04114/2003 2,430.60 0.00 41.00 Tripath Imaging Inc. 263 .47 08/05/2003 255 .84 05/09/2003 7.63 0.00 916.00 Tripath Imaging Inc. 5,886.30 08/05/2003 6,879.25 07/0212003 (992 .95) 0.00 251 .00 Cipbergen Biosystems Inc. 1,752.87 08/06/2003 1,426.86 04/01/2003 32601 0.00 371 .00 Ciphergen Biosystems Inc. 2,590.90 08/06/2003 2,11477 0410212003 476.13 000 523 .00 Enterra, Energy Trust 6,853.85 08/0612003 2,709.14 11/19/2002 4,14471 000 670.00 Enterra Energy Trust 8,780.27 08/06/2003 3,591 .94 11/20/2002 5,18833 0.00 771 .00 Sigma Designs Inc 7,382.21 08/06/2003 4,908.42 04111/2003 2,473.79 0.00 50300 Tripath Imaging Inc. 3,132.94 08/0612003 3,13872 05/09/2003 (5.78) 0.00 5,775.00 Axeda Systems Inc 7,346.14 08/06/2003 10,692 .47 07/0912003 (3,346 .33) 000 996 .00 Able Laboratories Inc 21,00545 08/07/2003 24,453 .59 07/28/2003 (3,448 .14) 000 838 .00 Align Technology Inc 9,231.30 08/07/2003 6,821 .32 05/09/2003 2,40998 0.00 183 .00 Align Technology Inc 2,01590 08/07/2003 1,68086 05/2112003 335.04 000 119 .00 AT Road Inc 1,44540 08/07/2003 797.24 03/18/2003 648 16 000 182 .00 AT Road Inc 2,210.61 08/07/2003 1,293.06 04/01/2003 91755 000 1,420.00 AT Road Inc 17,247 .64 08/07/2003 9,741 .20 05/09/2003 7,50644 000 131 .00 AT Road Inc 1,591.16 09/07/2003 1,347.99 06117/2003 243.17 0.00 85200 Ask Jeeves Inc 12,873 .11 08/07/2003 2,562.39 01/03/2003 10,31072 0.00 76.00 The Bombay Company Inc. 749 .77 08/07/2003 72200 05/09/2003 27.77 0.00 776.00 'Me Bombay Company Inc. 7,655.57 08/07/2003 8,444.04 06105/2003 (788 .47) 0.00 27900 Biolasc Tech Inc 3,008.87 08/07/2003 4,44587 07/24/2003 (1,437 .00) 000 322 .00 Bendey Pharmaceuticals 4,797.57 08/07/2003 4,777.13 08/07/2003 20.44 0.00 251-00 Concorde Career Colleges Inc. 4,939.36 08/07/2003 6,066.04 07129/2003 (1,126 .68) 0.00 561-00 CollaGenex Pharmaceuticals 6,553.85 08/07/2003 7,370.92 06/26/2003 (817 .07) 000 687-00 Chicago Pizza & Brewery Inc. 7,160.12 Oa/07/2003 7,589.84 07/03/2003 (429 .72) 0.00 498.00 Chicago Pizza & Brewery Inc. 5,19031 08/0712003 5,877.20 07/07/2003 (686 .89) 000 532-00 Checkers Drive-in Restaurant 5,441.04 08/07/2003 5,916.85 06130/2003 (475 .81) 0.00 5,587-00 Chordiant Software Inc. 16,672 .94 08/07/2003 16,907 .88 07/3012003 (234 .94) 0.00 109 .00 Ciphergen Biosystems Inc. 767.72 08/07/2003 611 .84 03/2W2003 155 .88 0.00 200-00 Ciphergen Biosystems Inc. 1,408.67 08/07/2003 1,136.94 04101/2003 271 .73 0.00 1,28400 Candela Corp. 16,14797 08/07/2003 18,104.14 07/15/2003 (1,956.17) 000 844.00 Concur Technologies Inc. 7,543.23 08/07/2003 4,203.12 03/18/2003 3,34011 0.00 191.00 Concur Technologies Inc. 1,70706 08/07/2003 947 .40 03/19/2003 75966 0.00 394.00 Concur Technologies Inc. 3,521 .36 08107/2003 1,771.11 01/10/2003 1,75025 0.00 1,233.00 Concur Technologies Inc. I oig .go oa/07/2003 6,060.20 03/17/2003 4,95970 0.00 31400 Concur Technologies Inc. 2,806.37 08/07/2003 1,557.50 03/19/2003 1,24887 0.00 719.00 Columbia Laboratories Inc. 8,735.43 08/07/2003 9,666.16 08/04/2003 (930.73) 0.00 225 .00 Columbia Laboratories Inc. 2,733.62 08/0712003 3,060.00 08/05/2003 (326.38) 000 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 46 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Unamortized Bond Omantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

1,366.00 Caraco Pharm Labs Inc 14,137 .43 08/0712003 15,29920 07/31/2003 (1,161 .77) 0.00 295.00 Callon Petroleum Corp. 2,076 29 W07/2003 1,736.31 05/09/2003 339 .98 000 385.00 Callon Petroleum Corp . 2,709.73 08/07/2003 2,266.03 05/09/2003 443.70 000 220.00 Callon Petroleum Corp . 1,548.42 08/07/2003 1,805.67 W10/2003 (257 .25) 000 12600 Conceptus; Inc. 2,012.80 08/07/2003 2,288 16 07/31/2003 (27536) 000 436.00 Centillium Communications Inc 3,836.61 08/07/2003 2,536.76 04/23/2003 1,299.85 000 703 .00 CPI Aerostructures Inc 5,975.21 08/07/2003 7,072.53 07/09/2003 (1,097 .32) 000 161.00 Ditech Communications 869.40 08/07/2003 680.12 05/13/2003 189 .28 0.00 1,158.00 Ditech Communications 6,253.22 08/07/2003 4,923.54 05/14/2003 1,329.68 0.00 1,344.00 Ditech Communications 7,25762 08/07/2003 8,285.89 07/23/2003 (1,028.27) 000 218.00 DICK S SPORTING GOODS INC 8,02202 08/07/2003 2,85321 10/16t2OO2 5,168.81 000 1,98300 Drugstore.com Inc 9,472.11 09/07/2003 9,923.64 06tO2/2003 (451 .53) 000 385 .00 Ecollege .com Inc 4,486.50 08107f2003 3,431 .97 06105f2003 1,054S3 000 53300 Ecollege .com, Inc 6,211 .18 08/07/2003 5,645-16 06(06/2003 566.02 0.00 1,588.00 Evci Career Colleges Inc 3,430.26 08/07/2003 5,087 16 05/14/2003 (1,656.90) 0.00 747.00 Evolving Systems Inc. 5,675.96 08/07/2003 3,173.61 06tO9/2003 2,502.35 0.00 905.00 Evolving Systems Inc. 6,116.66 09/07f2OO3 4,082.40 07/09f2OO3 2,034.26 0.00 482.00 Faro Technologies Inc 4,292.39 09/07/2003 3,710.39 07/03/2003 582.00 000 1,495.00 Faro Technologies Inc 13,313 .54 08107/2003 11,955 .07 07/08t2003 1,35847 0.00 52400 M Systems Fish Dsk Pionr 7,623.84 08/07/2003 7,12881 07/14/2003 495 .03 0.00 1,537.00 M Systems Fish Dsk Pionr 22,362 .29 08/07/2003 21,551 .51 07/24/2003 810.78 0.00 1,761 .00 Fuel Tech N V 9,219.48 08/07/2003 7,402.66 05/09/2003 1,816.82 000 682.00 Gevity Hr Inc 10,900 .98 08/07/2003 3,804.40 02/05/2003 7,09658 0.00 239.00 Gevity Hr Inc 3,820.14 08/07/2003 1,89620 0410912003 1,92394 0.00 81700 Gevity Hr Inc 13,05890 08/07f2OO3 13,10469 07/24/2003 (4589) 0.00 202.00 Dot Hill Systems Corp 2,783.42 08/07/2003 887 .47 02121/2003 1,89595 000 98.W Harvest Natin-al Resources 600.74 08/07/2003 693.98 06t 12/2003 (93.24) 0.00 1,15300 Harvest Natural Resources 7,067 95 08/07/2003 8,302.18 07/21/2003 (1,234.23) 000 147.00 Harvest Natm2l Resources 901 .12 08/0712003 1,045.17 07t2212003 (14405) 0.00 1,921.00 Harvest Nann-A Resources 11,775 .83 08/07/2003 13,928 .79 07/24/2003 (2,15296) 000 1,368.00 Hams Interactive, Inc. 8,786.26 08/07/2003 9,769.44 07/08/2003 (983.18) 000 1,466.00 Hams Interactive, Inc. 9,41569 08/07/2003 11,43480 07/2812003 (2,019-11) 000 279.00 Hams Interactive, Inc. 1,791 .93 08/07/2003 2,24369 07/29/2003 (45176) 000 709.00 Imax Corp 5,217.71 08/07/2003 5,520.84 05/30/2003 (303.13) 000 76000 Imax Corp 5,59303 08/07/2003 6,13290 06118/2003 (539.87) 000 1,63300 Imax Corp 12,017 .65 08/07/2003 14,40453 06/25/2003 (2,38688) 0.00 136.00 [max Corp 1,00086 08/07/2003 1,278.30 06/2612003 (277 .44) 000 117.00 InIdne Pharmaceutical Co 387.62 08/07/2003 388 .23 W1012003 (061) 000 1,123.00 Innovex Inc. 15,066.35 08/07/2003 9,83018 04/1612003 5,23617 0.00 1,224.00 Innovex Inc. 16,421 .39 08t07/2003 11,138 .40 05/09/2003 5,282.99 000 913.00 KCS Energy Inc. 5,168.54 08/07/2003 4,113.33 05122/2003 1,055.21 000 1,2281 .00 KCS Energy Inc. 6,951 .78 0V07/21003 6,615.97 08/04/2003 335 .81 0.00

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Sale Purchase Realized Unamortized Bond ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

650.00 Kfx Inc 2,424.51 08/0712003 2,855.48 06110/2003 (430.97) 000 3500 Kfx Inc 13055 08/07/2003 155 .19 06/12t2OO3 (2463) 0.00 22200 K-Swiss Inc. - CI A 7,963.94 08/07/2003 6,74436 05/09/2003 1,219.58 000 1,397.00 LCA Vision Inc 17,998 .94 08/07/2003 19,086 .93 07/28/2003 (1,087 .99) 000 111 .00 Uonbndge Technologies Inc. 692.61 08107/2003 509.22 06(0312003 183 .39 000 187 .00 Lionbridge Technologies Inc 1,166.82 08/0712003 881.82 O6/O4f2OO3 285.00 0.00 769.00 Uotibridge Technologies Inc 4,79833 08/07/2003 5,041 .79 07/21/2003 (24346) 0.00 1,200.00 Lonbridge Technologies Inc. 7,487.64 08/07/2003 8,061 .12 07/29/2003 (573 .48) 0.00 1,058.00 Laserscope 9,79873 08/(Y7/2003 10,427 .33 07/25/2003 (628.60) 0.00 27000 Laserscope 2,500.62 08/07/2003 2,717.17 07/28/2003 (216.55) 0.00 79500 Maxcor Fml Group Inc 9,396.77 08/07/2003 5,91488 01/0612003 3,481.89 000 39.00 Maxcor FmI Group Inc 46097 08/0712003 29640 01/07/2003 164 .57 000 I 19.W Maxcor Fin] Group Inc 1,40656 08/07/2003 1,346.53 07/22/2003 6003 0.00 593.00 Mediware Information Systems 7,944.88 08/07/2003 7,734.85 07/1612003 21003 0.00 387.00 Mediware Information Systems 5,184.94 08/07/2003 5,313.51 07/30/2003 (128 .57) 0.00 90r7 00 Milhcom Intl Cellular S.a. 25,485 .23 08/07/2003 12,335 .20 05/0912003 13,150.03 0.00 44600 Mobility Electronics Inc 2,591 .13 08/07/2003 2,86194 07/23/2003 (270 .81) 0.00 311 .00 Merge Technologies Inc 3,919.94 08/07/2003 3,12278 05/1412003 797 .16 000 940.00 Merge Technologies Inc 11,848 .04 08107/2003 14,207-25 07/10/2003 (2,359 .21) 0.00 21400 Merge Technologies Inc 2,69732 08107/2003 3,420.58 07/11/2003 (72326) 0.00 1,349.00 Mannatech Inc 7,176.33 08/07/2003 11,298 .82 07/22J2003 (4,122 .49) 000 1,14000 Network Engines Inc 5,20458 08/07/2003 2,817.29 05/23/2003 2,387.29 0.00 1,99400 Network Engines Inc 9,057.79 08/07/2003 9,98721 07/28/2003 (929 .42) 000 20500 Network Engines Inc 935 .91 08/07/2003 1,099.58 07/29/2003 (163 .67) 0.00 877.00 Netegrity Inc. 7,35777 08/07/2003 7,83678 07/24/2003 (479 .01) 0.00 2.00 Natural Health Trends Corp 18.04 08/07/2003 1580 07/14/2003 2.24 0.00 1,538.00 Natural Health Trends Corp 13,870.56 08/0712003 15,272 .34 07/25/2003 (1,401 .78) 0.00 53.00 Netease com. Inc. ADR 2,217.76 08/07/2003 244.85 11/05/2002 1,97291 0.00 155 .00 Netease com Inc. ADR 6,485.92 08/07/2003 5,63281 06/30/2003 853 .11 0.00 333.00 Netease.com Inc ADR 13,93426 08/07/2003 13,50275 07/24/2003 431 .51 0.00 374.00 Optibase Ltd 1,477.22 08/07/2003 1,774.62 07/31/2003 (297 .40) 0.00 514.00 Optelecom Inc 6,296.15 08/07/2003 7,083.54 07/16/2003 (78739) 0.00 345.00 Osteotech Inc. 4,249.98 08/07/2003 5,265.63 07/09/2003 (1,015 .65) 0.00 1,47500 Orasure Technologies Inc 11,59561 08/07/2003 12,427 .76 07/11/2003 (832 .15) 0.00 27500 Overland Storage Inc. 4,471 .28 08/07t2OO3 5,71442 06tI6f2003 (1,243 .14) 0.00 178 .00 Oxford Industries Inc. 8,88425 08/07t2003 8,19008 07/07/2003 694.17 000 100 .00 Oxford Industries Inc 4,991 15 08/07/2003 4,821.00 07/2112003 17015 0.00 91 .00 Oxford Industries Inc. 4,541 .95 08/07/2003 4,39985 08/01/2003 14210 0.00 367-00 Petinedexpress.com Inc 2,836.44 OWW2003 2,135.94 0710212003 70050 0.00 744.00 Petmedexpress.corn Inc 5,750.18 08107/2003 5,070.73 07/22/2003 67945 000 1,24400 Palomar Medical Tech 8,048.29 08/07/2003 7,84230 07/11/2003 205 .99 0.00 1,071-00 Palomar Medical Tech 6,929.04 08/0712003 7,49432 08/07/2003 (565 .28) 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 48 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantit Security Description Proceed Date cost Date Gain (- Less) Pren-dum Discount)

53.00 Penwest Pharmaceuticals Co 1,07039 08/07/2003 93597 04/23/2003 13442 000 39800 Penwest Pharmaceuticals Co 8,03802 08/07/2003 8,012.81 06/2412003 25 .21 000 164.00 Penwest Pharmaceuticals Co 3,312 15 08/07/2003 3,881 .19 07/2312003 (56904) 0.00 199.00 Penwest Pharmaceuticals Co 4,01901 081OW2003 4,81695 OW242003 (797 .94) 0.00 459.00 Peerless Systems Corp 1,36719 08/07/2003 1,147.10 0610512003 22009 000 2,49900 Peerless Systems Corp 7,443.60 08/07/2003 8,252.94 07/14/2003 (809 .34) 000 940.00 Perfonnance Tech Inc 9,581 .43 08/07/2003 9,11988 07/08/2003 461 .55 0.00 4,577.00 Puma Technology Inc 14,503 .85 08/07/2003 16,110.02 05/2812003 (1,606 .17) 0.00 72.00 Puma Technology Inc 22816 08/07/2003 292.43 05/29/2003 (64 .27) 000 817.00 Puma Technology Inc 2,588.96 08/07/2003 3,26182 05/30/2003 (672 .86) 0.00 169.00 Quality Systems Inc. 5,771 .09 08107f2003 6,057.94 OWW2003 (296 .86) 000 110.00 Quality Systems Inc. 3,756.32 08/07/2003 3,94900 07/31/2003 (19268) 000 64900 Radware Ltd 10,03455 08/07/2003 8,224.32 04130r2003 1,81023 000 1,07200 Princeton Review Inc 6,993.28 08/0712003 8,015.77 07107/2003 (1,022 .49) 0.00 94.00 Princeton Review Inc 613.22 09/07/2003 689.96 07/0812003 (76 .74) 0.00 382.00 Invivo Corporation 6,683.95 08/07/2003 7,21136 0712212003 (527 .41) 000 177.00 Invivo Corporation 3,097.01 08/0712003 3,35238 07/23/2003 (255 .37) 0.00 1,43000 Socket Communications 3,546-12 08/07/2003 4,686.72 07/31/2003 (1,140 .60) 0.00 796 .00 Select Comfort Corp. 15,481 .47 08/07/2003 16,020.93 07/03/2003 (539 .46) 0.00 670.00 Select Comfort Corp. 13,030.88 08/07/2003 13,612.26 07/10/2003 (581 .38) 0.00 53.00 Sharper Image Corp. 1,381 .98 08/0712003 1,11081 04/11/2003 271 .17 0.00 23.00 Sharper Image Corp. 599 .73 Oa/07/2003 496.46 05/0612003 103 .27 0.00 395 .00 Sharper Image Corp. 10,299 .69 08/07/2003 8,014.55 05/09/2003 2,285.14 0.00 259.00 Sharper Image Corp. 6,753.47 08/07/2003 5,208.21 04109/2003 1,545.26 0.00 246.00 Sharper Image Corp. 6,41449 08/07/2003 4,991.34 05/09/2003 1,42315 000 588.00 Sigma Designs Inc. 5,425.16 08/07/2003 3,308.76 03125/2003 2,116.40 0.00 388.00 Sigma Designs Inc. 3,579.87 08/07/2003 2,47012 04/1112003 1,10975 0.00 757.00 Sigma Designs Inc. 6,984.42 08/07/2003 4,25974 03/25/2003 2,72468 000 801 .00 Sina Corp 24,174 .96 081OW2003 6,53992 03t2lf2OO3 17,635 .04 0.00 25.00 Sina Corp 754.52 08/07/2003 22027 03/2612003 534.25 0.00 685.00 SpectraLink Corporation 11,384.16 08/07/2003 13,18625 08/04/2003 (1,802 .09) 0.00 836.00 Sonic Solutions 9,058.63 08/07/2003 10,269.94 07/31/2003 (1,211 .21) 0.00 8.00 S R S 1-abs Inc 40.96 081(Y712003 4571 07/16r2003 (4.75) 000 1,281 .00 S R S Labs Inc 6,558.40 08107/2003 7,80898 08/05/2003 (1,250.58) 000 282.00 Stratasys Inc 9,226.60 08/0712003 3,095 43 02/20/2003 6,131 17 000 8X00 Sierra Wireless Inc 7,735.23 OVOW2003 7,103.14 0711412003 632.09 000 1,525.00 Sierra Wireless Inc 14,212 .33 08/07/2003 13,52675 0712412003 685.58 000 2,954.00 Terayon Communication Sy 13,983 .42 08/07/2003 14,84498 07/31/2003 (861 .56) 000 5,450.00 2417 Real Media Inc. 7,956.06 08/07/2003 6,18003 0610412003 1,77603 0.00 907.00 TiVo Inc 6,95448 09/07f2OO3 7,182.30 05/3Of2OO3 (227 .82) 000 1,573.0~ TLC Vision Corp 8,968.23 08/0712003 7.335.79 06tO6/2OO3 1,632.44 0.00 1,01.3.00 T.I.,C Vision Corp 6, 11 -14'. 5 7 08!v^7/2wj1 5.51 1.66 07/10r2003 662.9 1 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 49 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantit Security Descriytion Proceeds Date Cost Date G2in (- Loss) Premium Discount)

1,536.00 TLC Vision Corp 8,75728 08/07/2003 7,82487 07/11/2003 932 .41 0.00 2,11400 Tumbleweed Communications 5,269.58 08/07/2003 5,431 .16 06/16/2003 (161 .58) 0.00 434.00 TnpaLh Imaging Inc 2,635.16 08/07/2003 2,708.16 05/09/2003 (73 00) 0.00 1,032.00 Tripath Imaging Inc. 6,269.39 08/07/2003 4,565.06 03/21/2003 1,704.33 000 1,259.00 Tripath Imaging Inc 7,648.41 09/07/2003 7,185.49 05/0612003 462 .92 0.00 659 .00 Tnpath Imaging Inc 4,00342 08107/2003 4,11216 05/09/2003 (108 .74) 0.00 1,119.00 Trident Microsystems 13,00261 08/07/2003 10,93106 07/15/2003 2,07155 0.00 103.00 Thestreet com Inc 42479 08/07/2003 40579 04/16/2003 1900 0.00 351 .00 Thestreet com Inc 1,447.63 08/07/2003 1,38294 04/16/2003 64.79 0.00 1,786.00 Youbet com Inc 6,67064 08/0712003 7,35596 07r2412003 (68532) 0.00 118.00 Ultralife Batteries Inc 1,43724 08/07/2003 1,225.95 0612612003 211 29 000 97700 Ultralife Batteries Inc 11,899 .88 08/07/2003 10,719 .64 07/15/2003 1,180.24 0.00 108.00 Ultrahfe Batteries Inc 1,315.44 08/07/2003 1,218.74 07/16/2003 9670 000 254 .00 Ultralife Batteries Inc 3,093.73 08/07/2003 2,91160 07/21/2003 182 13 000 712.00 Ultralife Batteries Inc 8,672.18 08/07/2003 9,20288 08/05/2003 (53070) 000 833 .00 Ultrahfe Batteries Inc 10,14596 08/07/2003 10,88348 08/0612003 (73752) 000 28000 NEVADA GOLD & CASINOS INC 2,84466 08/07/2003 2,571.38 07/1612003 27328 0.00 233 .00 ValueClick, Inc. 1,67540 08/07/2003 91022 04111/2003 765 .18 0.00 1,371 .00 ValueClick, Inc. 9,858.25 08/0712003 5,89533 05/09/2003 3,962.92 000 1,39400 Verso Technologies Inc 4.21301 08/07/2003 4,45852 08101/2003 (245 .51) 0.00 242 .00 Vital Images Inc 4,457.36 08/0712003 4,561.17 0612612003 (10381) 0.00 278 .00 Wireless Facilities, Inc. 3,602.71 08/07/2003 3,658.04 08/01/2003 (55 .33) 0.00 332.00 Wireless Facilities, Inc. 4,302.52 08/07/2003 4,60580 08/04/2003 (303 .28) 0.00 768 .00 Wireless Facilities, Inc. 9,952.81 08/07/2003 10,455 .40 08/05/2003 (502 .59) 000 261 .00 SM&A 2,349.43 08/07/2003 1,54593 04/02/2003 80350 0.00 1,827.00 Axeda Systems Inc 2,256.10 08/07/2003 3,382.71 07/09/2003 (1,126.61) 0.00 116.00 Able Laboratories Inc 2,54608 08/08/2003 2,948.01 07/28/2003 (301 .93) 0.00 234.00 Ask leeves Inc 3,392.94 08/08/2003 60159 12/02/2002 2,791 .25 0.00 412.00 Ask Jeeves Inc 5,973.71 08/0&'2003 1,23909 01/03/2003 4,734.62 0.00 99-00 The Bombay Company Inc. 983.02 08/08/2003 74469 04/16/2003 238 .33 000 85.00 The Bombay Company Inc. 844.01 08/OM003 807 .50 05/09/2003 36 .51 0.00 112.00 CollaGenex Pharmaceuticals 1,300.25 08/08/2003 1,471 .56 06/2612003 (171 .31) 0.00 64.00 Chicago Pizza & Brewery Inc. 70460 08108t2003 707.06 07/03/2003 (2.46) 0.00 80-00 Checkers Drive-in Restaurant 847 .15 08/0&'2003 88975 0660/2003 (42.60) 0.00 28400 Ciphergen Biosystems Inc. 1,998.04 08/08/2003 1,594.15 03/2&r2OO3 40389 0.00 197.00 Columbia Laboratories Inc. 2,424.95 08/08/2003 2,648.45 08/04/2003 (22350) 0.00 103.00 Callon Petroleum Corp. 720.96 08/08/2003 606.24 05/09/2003 11472 0.00 08/0812003 1,739.66 04123/2003 89144 0.00 299-00 Centillium CommunicationsD Inc 2,631 .10 1,113-00 Ditech Commun cations 6,101 .83 08/08/2003 4,70170 05/13/2003 1,400.13 0.00 33-00 DICK S SPORTING GOODS INC 1,22688 08108/2003 431 91 10116/2002 794.97 0.00 120.00 Ecollege com Inc 1,427.93 08/08/2003 1,069.70 06105/2003 35823 0.00 182.00 Evci Career Colleges Inc 393.07 08/0&'2003 58304 05/14/2003 (189.97) 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 50 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHA US FOUNDA TION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount) 146.00 Evolving Systems Inc. 1,124.14 08/08/2003 62028 06tO9/2003 503 .86 0.00 18.00 M Systems Fish Dsk Pionr 260.08 09/08/2003 244.88 07/14/2003 15.20 0.00 15500 Hams Interactive, Inc. 1,061.94 09/08/2003 1,058.50 06/25/2003 3.44 0.00 245 .00 Harris Interactive, Inc. 1,67856 08/08/2003 1,74964 07/08/2003 (7108) 000 970.00 Inkine Pharmaceutical Co 3,07996 08108/2003 3,218.62 06110/2003 (138 .66) 0.00 198 .00 KCS Energy Inc. 1,172.10 08108/2003 1,256.19 08/08/2003 (84 .09) 0.00 78.00 Kfx Inc 291.70 09108/2003 342.66 06/10/2003 (50 .96) 0.00 5600 K-Swiss Inc. - Cl. A 2,024.30 08/08/2003 1,701.28 05/09/2003 32302 000 132 .00 11oribridge Technologies Inc. 832 .88 08/08/2003 60556 06t03/2003 227 .32 0.00 2,794.00 Uveperson Inc 7,625.78 08/08/2003 7,19624 07/24/2003 42954 000 143 .00 Laserscope 1,32104 08/08/2003 1,242.77 07/07/2003 78 .27 0.00 46800 Laserscope 4,323.41 08/08/2003 4,139.32 07/21/2003 184.09 0.00 205.00 Laserscope 1,893.80 0810812003 2,02042 07/25/2003 (126.62) 0.00 105.00 Maxcor Fial Group Inc 1,212.69 08/08/2003 781 .21 01/06/2003 431 .48 0.00 68.00 Mediware Information Systems 917.95 08/08/2003 88696 07/1612003 3099 0.00 132 .00 Mobility Electronics Inc 768.40 08/08/2003 557 .49 0&2&2003 21091 0.00 3,232.00 Mobility Electronics Inc 18,814 .21 08/08/2003 14,17655 07/08/2003 4,637.66 0.00 67.00 Mobility Electronics Inc 390.02 08/08/2003 42993 07/23/2003 (39.91) 0.00 161 .00 Mannatech Inc 836.98 08/08/2003 1,23559 0613012003 (39861) 000 572.00 Mannatech Inc 2,97362 08108/2003 4,79090 07/22/2003 (1,817.28) 000 65.00 Netegrity Inc. 54012 08/08/2003 58083 07r24/2003 (40.71) 0.00 269.00 Osteotech Inc. 3,457.07 08/08/2003 4,105 67 0710912003 (648.60) 0.00 50.00 Orasure Technologies Inc 385.48 08/08/2003 411 .77 06/26t2003 (2629) 0.00 61.00 Orasure Technologies Inc 470.28 08/08/2003 513.96 07/11/2003 (43 68) 0.00 31.00 Overland Storage Inc. 526.97 08/08t2003 644.17 06t1612003 (11720) 0.00 24.00 Oxford Industries Inc. 1,177.62 08/08/2003 1,104.28 07/07/2003 7334 0.00 189.00 Palomar Medical Tech 1,218.99 08/08/2003 1,279.57 08/0812003 (60.58) 0.00 71 .00 Penwest Pharmaceuticals Co 1,483.12 08/08/2003 1,25385 04123/2003 22927 0.00 311 .00 Peerless Systems Corp 932.95 08/08/2003 777.23 06105/2003 155 .72 0.00 109 .00 Radware Lid 1,724.30 08/08/2003 1,189.36 04101/2003 534.94 0.00 61 .00 Radware Ltd 964.97 08/0812003 773 .01 04/3012003 191 .96 0.00 217.00 Select Comfort Corp 4,002.66 Oa/08/2003 4,367.52 07/03/2003 (364 .86) 0.00 58.00 Stratasys; Inc 1,835.61 08/08/2003 63665 02120/2003 1,198.96 000 96.00 Sierra Wireless Inc 831 .07 08/08/2003 821 .57 07/1412003 9.50 000 432.00 Sierra Wireless Inc 3,739.82 08/08/2003 3,236.54 0710912003 50328 0.00 718 .00 Sierra Wireless Inc 6,21571 08/0&-2003 6,14464 07/14/2003 7107 000 581 .00 24n Real Media Inc. 803 .74 08/08/2003 658 .82 06/04/2003 14492 000 210.00 TiVo Inc. 1,759.02 08/08/2003 1,552.43 05/2212003 206.59 0.00 218 .00 TiVo Inc 1,826.03 08/0812003 1,940.20 05/30/2003 (114 .17) 0.00 1,017.00 TLC Vision Corp 5,471 .29 08/08/2003 4,742.85 06106r2003 728 .44 0.00 242 .00 Tumbleweed Communications 595.77 08/0&'2003 621 .73 06/1612003 (25 .96) 0.00 307.000 Tripath Imaging Inc. .'1-I -A 01 OS108r 003 1,337.94 03r20r2003 40607 000

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

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Sale Purchase Realized Unamortized Bond Ouantit Security Description Proceeds Date Cost Date Gain (- Loss Premium Discount)

453 .00 Tripath Imaging Inc. 2,57341 08/08/2003 2,003.85 03/21/2003 569.56 0.00 257 .00 Trinity Biotech Plc-spon Adr 56743 09/08/2003 572 .79 03/1 &'2003 (5.36) 0.00 957 .00 Trinity Biotech Pic-spon Adr 2,13162 09/08/2003 2,132.94 03/18/2003 (1 .32) 0.00 312 .00 Youbet com Inc 1,117.31 09/08/2003 1,28503 07/24/2003 (167 .72) 0.00 2,292.00 Vixel Corp 17,189 .18 08/08/2003 19,264.03 08/01/2003 (2,074 .85) 0.00 908 .00 Vixel Corp 6,809.68 08/08/2003 7,709.37 08/04/2003 (899 .69) 0.00 49.00 Vital Images Inc 90171 08/08/2003 92354 0612612003 (21 .83) 0.00 127 .00 SM&A 1,111 .19 08/08/2003 752 .24 04102/2003 358.95 0.00 1,557.00 Imax Corp 10,753 .21 08111/2003 12,12405 05/3012003 (1,370 .84) 0.00 30800 Osteotech Inc. 3,763.58 08/1112003 4,70091 07/09/2003 (937 .33) 000 19.00 Sigma Designs Inc. 182.01 08/11/2003 10692 03/25/2003 75.09 0.00 1,016.00 TiVo Inc. 8,476.38 08/11/2003 7,510.78 05/22/2003 965.60 0.00 562.00 Tripath Imaging Inc. 3,343.18 08/11/2003 2,20996 03/07/2003 1,133.22 0.00 799.00 Tripath Imaging Inc. 4,75302 08/11/2003 3,482.12 03/20/2003 1,270.90 0.00 196.00 Tripath Imaging Inc. 1,165.95 08/11/2003 852 .60 03/25/2003 313.35 0.00 1,780.00 Trinity Biotech Pic-spon Adr 4,05106 08/11/2003 3,967.22 03/18/2003 8384 0.00 30-00 Able Laboratories Inc 722 .96 08/12/2003 736 .55 07/2812003 (13 .59) 0.00 489.00 Biolase Tech Inc 6,024.19 08/12/2003 7,792.22 07124/2003 (1,768 .03) 0.00 88.00 Bentley Pharmaceuticals 1,387.89 08/12/2003 1,42146 08/12/2003 (33 .57) 0.00 53.00 Candela Corp. 731 .36 08/1212003 678 .70 07/09/2003 52.66 0.00 43.00 Candela Corp. 593 .37 08/1212003 60629 07/15/2003 (1292) 0.00 54.00 M Systems Fish Dsk Pionr 813 .23 08/1212003 734.65 07/14/2003 78.58 0.00 4400 Gevity Fir hic 714.96 08/12/2003 24545 02/05/2003 46951 0.00 62.00 Innovex Inc. 900.81 08/1212003 542 .72 04/1612003 358.09 0.00 24.00 Millicom Ind Cellular S.a. 771 .56 08/12/2003 32640 05/09/2003 44516 0.00 789-00 Osteotech Inc. 9,727.91 08/1212003 12,042 .27 07/09/2003 (2,314 .36) 0.00 182.00 Petmedexpress .com Inc 1,397.69 08/12/2003 1,059.24 07/0212003 338.45 0.00 44.00 Select Comfort Corp 850 .43 09/1212003 885 .58 07/03/2003 (35 .15) 0.00 2,253-00 S R S Labs Inc 10,551 .21 08/1212003 12,872 .75 07/16/2003 (2,321 .54) 0.00 10000 Ultralife Batteries Inc 1,27094 09/12/2003 1,329.25 08/11/2003 (58 .31) 000 314.00 SM&A 2,705.17 08/12/2003 1,859.86 04/0212003 845 .31 0.00 225-00 Chordiant Software Inc 65246 0811312003 680.92 07/30/2003 (28 .46) 0.00 520-00 Ciphergen Biosystems Eric. 4,003.81 08113/2003 2,918.86 03/29/2003 1,084.95 0.00 56-00 Ditech Communications 31946 08/13/2003 228.31 0511212003 91 .15 000 10000 Ditech Communications 570.47 08/13/2003 422.43 05/13/2003 14804 0.00 1,80600 Drugstore com Inc 9,209.59 08/1312003 9,03787 06102/2003 171 .72 0.00 13200 Harvest Natural Resources 749.72 08/1312003 934.74 06/12/2003 (18502) 000 144.00 Hams Interactive, Inc 94345 09/13/2003 983.38 06125/2003 (39 .93) 000 144.00 KCS Energy Inc. 96043 08/13/2003 965.22 09/11/2003 (4.79) 0.00 106.00 Mobility Electronics Inc 711 .22 08/1312003 447.68 06126/2003 26354 0.00 315-00 Overland Storage Inc. 4,642.88 08/1312003 6,545.61 06116t2003 (1,902 .73) 0.00 216.G0 Puma Technology Inc 652.28 08/13f2003 760.27 05/2812003 (107 .99) 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 52 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHA US FOUNDA TION-MICROCAP

Sale Purchase Realized Unamortized Bond Guantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

583.00 Sigma Designs Inc. 5,163.03 08/13/2003 3,28062 03/25/2003 1,882.41 000 24000 24f7 Real Media Inc. 386.21 08/1312003 272.15 06tO4/2003 114 .06 0.00 165.00 TLC Vision Corp 943 .75 08/1312003 76949 06106/2003 17426 0.00 440.00 Concorde Career Colleges Inc. 8,790.78 08/14/2003 10,63370 07/29/2003 (1,84292) 000 1,131.00 CoUaGenex Pharmaceuticals 13,42704 08/14/2003 14,860 .10 06126/2003 (1,43306) 0.00 497 .00 Chicago Pizza & Brewery Inc 5,357-11 08/14/2003 5,094.25 06/18/2003 262 .86 000 1,211.00 Chicago Pizza & Brewery Inc. 13,053 .23 08/14/2003 12,294 .56 06119/2003 758 .67 000 307 .00 Chicago Pizza & Brewery Inc. 3,309-12 08/1412003 3,391 .67 07/0312003 (8255) 0.00 415.00 Checkers Drive-in Restaurant 4,158.10 08/14/2003 4,615.59 06/30/2003 (457 .49) 000 654 .00 Checkers Drive-in Restaurant 6,552.77 08/14/2003 7,258.29 07/01/2003 (705 .52) 000 181 .00 Ciphergen Biosystems: Inc. 1,385.49 08/14/2003 1,015.99 03/28/2003 36950 0.00 338 .00 Ciphergen Biosystems Inc. 2,587.27 08/14/2003 1,880.43 03/31/2003 706.84 0.00 813 .00 Centifflum Commiln cations Inc 7,871 .74 08/14/2003 4,730.25 04/23/2003 3,14149 0.00 239 .00 Drugstore.com Inc 1,221.14 08/1412003 1,196.04 06102f2OO3 25 10 0.00 1,500 nO Drugstore.com Inc 7,664-03 08/14/2003 7,103.32 06/03/2003 56071 0.00 1,147.00 Evci Career Colleges Inc 2,225.27 09114/2003 3,67442 05/14/2003 (1,449 .15) 0.00 208 .00 Overland Storage Inc. 2,991-60 08/14/2003 4,322.18 06116t2003 (1,33058) 0.00 310.00 Sharper Image Corp. 7,873.63 08/14/2003 6,23376 04/09/2003 1,639.87 0.00 331 .00 Sigma Designs Inc. 2,902.43 08/1412003 1,86258 03/25/2003 1,039.85 0.00 1,111 .00 Trinity Biotech Pic-spon Adr 2,59124 08/14/2003 2,151.64 02/26r2003 43960 000 328.00 Trinity Biotech Plc-spon Adr 765-01 08/14/2003 731 .04 03/18/2003 3397 0.00 510.00 Vital Images Inc 10,156-99 08/14/2003 9,612.38 06/26/2003 54461 0.00 510.00 AT Road Inc 6,800-01 08/1512003 3,416.75 03/18/2003 3,38326 0.00 383.00 Ask Jeeves Inc 6,182.24 Oa/15/2003 984.66 12/0212002 5,19758 0.00 51900 Centilhum Communications Inc 5,233.40 08/15/2003 3,01968 04/23/2003 2,213.72 000 1,904.00 Evci Career Colleges Inc 3,656.97 08/15/2003 6,099.47 05/14/2003 (2,442.50) 0.00 90.00 Milhcom Intl Cellular S.a. 2,870.86 08/15/2003 986 .36 05/0212003 1,89450 0.00 87.(X) Milhcom Intl Cellular S.a. 2,775.17 08115/2003 1,178.66 05/08/2003 1,59651 0.00 129.00 Milhcom Intl Cellular S.a 4,114.91 08/15/2003 1,754.40 05/09/2003 2,36051 0.00 1,226.00 Trinity Biotech Plc-spon Adr 2,857-02 08/15/2003 2,37436 02/26t2003 482 .66 000 357 .00 UItrahfe Batteries Inc 4,462.28 08/15/2003 4,745.42 08111/2003 (283 .14) 0.00 398 .00 Able Laboratories Inc 9,233.16 09/18/2003 7,873.51 06104/2003 1,35965 0.00 10.00 Able Laboratories Inc 23199 08/18/2003 24552 07128/2003 (13 .53) 0.00 1,179.00 Inkine Pharmaceutical Co 3,674.73 08/1 a/2003 3,912.12 06110/2003 (23739) 0.00 23.00 Quahty Systems Inc. 898-16 08/18/2003 82445 07/30/2003 73.71 000 130 .00 Quahty Systems Inc. 5,076.55 08118/2003 5,232.71 0811412003 (15616) 0.00 51000 Radware Ltd 8,950.07 08/18/2003 5,564.92 04101/2003 3,385.15 0.00 306.00 Ask Jeeves Inc 5,265.77 08/19/2003 78670 12102/2002 4,47907 0.00 14.00 Harris Interactive, Inc. 94.66 08/19/2003 85 .61 06105/2003 905 0.00 427.00 Hams Interactive, Inc. 2,887 11 08119/2003 2,912.10 06tl6/2003 (24 .99) 0.00 579.00 Hams Interactive, Inc. 3,91484 08119/2003 3,953.99 06/25/2003 (39 .15) 0.00 188.00 Inlane Pharmaceutical Co 580-25 OR/19/2003 62381 00 66 /10172 00 03 (43 56) 000

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Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- I-oss) Premium Discount

17800 Innovex Inc. 2,565.30 08/19/2003 1,307.91 04107/2003 1,257.39 000 354.00 Innovex Inc. 5,101 .78 09/19/2003 2,71139 04109/2003 2,390.39 000 90.00 Innovex Inc. 1,152.95 Oal 19/2003 70028 04/16/2003 452.67 000 1,796.00 The Bombay Company Inc 17,063 .17 08/2012003 13,50969 04/1612003 3,553.48 000 29.00 M Systems Fish Dsk Pionr 494.43 08f20/2003 37165 07/0212003 12278 000 481 .00 M Systems Fish Dsk Pionr 8,200.66 08/2012003 6,54381 07/1412003 1,656.85 0.00 89.00 Inkine Pharmaceutical Co 27639 08/20/2003 295-32 0611012003 (18 .93) 0.00 601.00 Innovex Inc. 8,583.55 08/20/2003 4,41603 04/07/2003 4,167.52 000 510.00 Radware Ud 8,92457 08120/2003 5,56492 04/0112003 3,359.65 0.00 510.00 DICK S SPORTING GOODS INC 19,161 .38 08/21/2003 20,737-52 08/18/2003 (1,57614) 0.00 342.00 Inkine Pharmaceutical Co 1,087.16 08/21/2003 1,134.81 06tI012003 (47 .65) 000 16400 Innovex Inc 2,362.25 08/21/2003 1,205~04 04/07f2003 1,157.21 0.00 10700 Oxford Industries Inc 5,86167 08/21/2003 5,48913 08/13/2003 37254 000 46.00 Oxford Industries Inc. 2,519.97 08/21/2003 2,388-08 08/14/2003 131 .89 0.00 389.00 Radware Ltd 7,028.89 08/21/2003 4,244.61 04101/2003 2,78428 000 357.00 Candela Corp . 5,151 .47 W2212003 4,571-63 07/O9f2OO3 579.84 0.00 373.00 DICK S SPORTING GOODS INC 13,091 .19 08/22/2003 14,682-29 08/11/2003 (1,591 .10) 0.00 10.00 DICK S SPORTING GOODS INC 350.97 0&'2212003 40662 08/1&*2003 (5565) 0.00 117 .00 Inkme Pharmaceutical Co 376.75 0W22/2003 38823 06110/2003 (11 .48) 000 408.00 Sina Corp 12,811 .16 0&-2212003 3,331-20 03f2l/2003 9,479-96 0.00 657.00 AT Road Inc 8,74544 08/25/2003 4,34336 03/1412003 4,402.08 000 394.00 AT Road Inc 5,111.49 08/25/2003 2,572.61 03/18/2003 2,538.88 000 765.00 M Systems Fish Dsk Pionr 12,275 .38 O&P2512003 9,80386 07/02/2003 2,471 .52 0.00 465.00 Sina Corp 13,972 .36 OV25/2003 3,725-21 03120/2003 10,247 .15 0.00 57.00 Sina Corp 1,712.74 OU2512003 46539 03/21/2003 1,24735 000 54.00 Align Technology Inc 550.23 0&'2612003 298.47 03/18/2003 251 .76 0.00 609.00 Align Technology Inc 6,205.41 08/2612003 3,72879 0312612003 2,47662 0.00 32-00 Align Technology Inc 326.06 08/2612003 260.48 05/09/2003 65.58 0.00 995.00 Network Engines Inc 4,963.52 08/26/2003 5,695.18 08/19/2003 (731 .66) 000 498.00 TLC Vision Corp 2,426.88 08/26/2003 2,322.46 06tW2003 104 .42 0.00 969.00 Carrington Labs 5,240.93 OW27/2003 4,104.90 08/19f2003 1,136.03 0.00 1,531 .00 Carrington Labs 8,280.55 0&-27/2003 6,65801 08t2012003 1,622.54 000 81 .00 Candela Corp . 1,158.44 08/27/2003 1,037.26 07/0912003 121 .18 0.00 302-00 Candela Corp. 4,319.12 08/27/2003 3,777.60 07/10/2003 541 .52 0.00 139 .00 Harvest Natural Resources 792.05 08/27/2003 98431 0611212003 (192 .26) 0.00 797.00 Harvest Natural Resources 4,541 .48 08/27/2003 5,628.89 07/2212003 (1,087 .41) 0.00 728.00 Imax Corp 5.063.80 08127f2OO3 5,598-32 O5/O9f2OO3 (53452) 0.00 31.00 Imax Corp 215.63 08127/2003 241-39 05/30/2003 (25 .76) 000 798.00 Imax Corp 5,550.70 09127f2OO3 6,19578 06(17f2OO3 (635 .08) 0.00 532.00 Innovex Inc. 7,288.05 08/27/2003 3,403.04 01/29/2003 3,885.01 0.00 220.00 Innovex Inc. 3,013.86 08/27/2003 1,616.52 04/07/2003 1,397.34 0.00 72-00 Oxford Industries Inc. 4,296.39 08/27/2003 3,312.94 07/07/2003 983 .55 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 54 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase ReaHzed Unamortized Bond Ouantit Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

83000 Tnpath Imaging Inc. 5,314.98 08/27/2003 3,26383 03/07/2003 2,051.15 000 273 .00 Align Technology Inc 2,852.71 08/28/2003 1,447.09 03/17/2003 1,405.62 0.00 23700 Align Technology Inc 2,47653 08/28/2003 1,309.97 03/18/2003 1,166.56 0.00 1,327.00 Carrington Labs 6,965.35 08128/2003 5,621 .47 08/19/2003 1,34388 0.00 151 .00 CPI Aerostructures Inc 1,343.88 08/28/2003 1,448.89 07/08/2003 (10501) 000 212.00 CPI Aerostructures Inc 1,88677 08/28/2003 2,132.83 07/09/2003 (246 .06) 0.00 53900 Harvest Natural Resources 3,067.57 08/2812003 3,630.29 06t 11/2003 (562 .72) 000 20900 Harvest Natural Resources 1,189.46 08/28/2003 1,476.08 07/22/2003 (28662) 0.00 203.00 Imax Corp 1,41281 08/28/2003 1,39057 04/23/2003 22.24 0.00 307.00 Imax Corp 2,13662 08/28/2003 2,36083 05/09/2003 (22421) 0.00 752.00 Innovex Inc. 10,319 .06 08/2812003 4,810.32 01/29/2003 5,508.74 0.00 105.00 Oxford Industries Inc. 6,258 13 08128/2003 4,831 23 07/07/2003 1,42690 0.00 153.00 Quality Systems Inc. 6,653.65 08/28/2003 5,48441 07/30/2003 1,169.24 0.00 43400 Youbet com, Inc 1,334.87 09/28/2003 1,78751 07/24/2003 (452 .64) 000 397.00 Wireless Facilities, Inc. 5,571 .75 08/28/2003 3,434.09 05/09/2003 2,137.66 000 113 .00 Wireless Facilities, Inc. 1,58591 08/28/2003 1,48690 08/01/2003 9901 0.00 605.00 Candela Corp. 8,32047 09/29/2003 7,422.62 05/14/2003 897 .85 000 400 Candela Corp . 55.01 08/29/2003 5003 07/10/2003 4.98 0.00 410.00 Candela Corp . 5,638.67 08/29/2003 5,094-08 07/11/2003 554.59 0.00 23 00 Gevity Hr Inc 35409 08/29/2003 12680 02/04/2003 227 .29 0.00 745.00 Gevity Hr Inc 11,469 .48 08f2912003 4,155 83 02/05/2003 7,313.65 000 317.00 Harvest Natural Resources 1,80538 08/29/2003 2,135 07 06/11/2003 (329 .69) 0.00 153.00 Netease com, Inc. ADR 7,772.03 08/29/2003 706.84 11/05/2002 7,065 19 0.00 39.00 Oxford Industries Inc. 2,320.39 08/29/2003 1,522.70 05/14/2003 79769 0.00 63.00 Oxford Industries Inc. 3,748.32 08/29/2003 2,898.74 07/07/2003 949.58 000 575.00 Stratasys Inc 22,941 .42 0812912003 6,311.60 OY20f2003 16,629 .82 0.00 586.00 Youbet com Inc 1,789.16 08t2912003 2,413.55 0712412003 (624 .39) 0.00 6000 Ask Jeeves Inc 1,155.24 09/02/2003 1,181.81 09/0212003 (26 .57) 0.00 123.00 CPI Acrostructures Inc 1,065.94 09/02/2003 1,18022 07/08/2003 (11428) 0.00 57.W I-Ionbridge Technologies Inc. 479.06 09/02t2OO3 377.44 08/1412003 101 .62 000 4600 1merscope 447 .55 09102/2003 399.77 07/07/2003 47.78 0.00 62.00 Merge Technologies Inc 1,036.59 09/02/2003 622.55 05/14/2003 41404 0.00 80.00 Network Engines Inc 478 .77 09/02/2003 480.37 08/28/2003 (1 .60) 0.00 71 .00 Palomar Medical Tech 485 .61 09/02/2003 486.49 08/11/2003 (0.88) 0.00 20.00 Penwest Pharmaceuticals Co 440.68 09/OM003 29477 03/21/2003 145.91 0.00 18.00 Penwest Pharmaceuticals Co 39661 09/02/2003 317.88 04/23/2003 78 .73 0.00 1,39400 Puma Technology Inc 4,427.79 09/02/2003 3,83289 05/09/2003 59490 0.00 382.00 Puma Technology Inc 1,213.35 09/02/2003 1,344.56 05/28/2003 (131 .21) 0.00 947.00 Princeton Review Inc 6,557.95 09/O2f2OO3 6,449.73 07/03/2003 10912 0.00 10600 Princeton Review Inc 734.04 09/02/2003 77804 07/08/2003 (44 .00) 0.00 74.00 Sonic Solutions 1,015.23 09/02/2003 1,007.62 08128/2003 7.61 0.00 700.(A) Switchboard Incorporated 8.350-39 09/02/2003 5,315.94 08113/2-003 3,03 445A .A 0.00

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Sale Purchase Realized Unamortized Bond 0112ntity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

64-00 Tcrayon Communication Sy 42237 09/02/2003 442 .90 09/0212003 (20.53) 0.00 778.00 Tripath Imaging Inc. 5,095.65 09/02/2003 3,059.34 03/07/2003 2,03631 0.00 60.00 Tripath Imaging Inc. 392.98 09/0212003 23560 03/1112003 157 .38 0.00 871 .00 Youbet corn Inc 2,70043 09/0212003 3,538.50 07/1612003 (838 .07) 0.00 340-00 Youbet com Inc 1,054.13 09/02/2003 1,40035 07/2412003 (34622) 000 441 .00 NEVADA GOLD & CASINOS INC 4,329.88 09/02t2003 4,049.92 07/16/2003 279 .96 000 56-00 Wireless Facilities, Inc 771 .36 09/02/2003 484 .41 05/09/2003 286.95 0.00 669.00 AT Road Inc 8,924.03 09/03/2003 4,422.69 03/1412003 4,50134 0.00 774.00 I-Flow Corp . 5,97391 09/03/2003 7,049.36 08/1212003 (1,07545) 000 1,624.00 Imax Corp 12,78709 09/03/2003 11,12456 04/23/2003 1,66253 0.00 761 .00 Puma Technology Inc 2,410.39 09/03/2003 2,092.42 05/09/2003 317 .97 0.00 720-00 Princeton Review Inc 5,003.76 09/03/2003 4,903.70 07/03/2003 100.06 0.00 318.00 Switchboard Incorporated 3,591 .58 09/03/2003 2,414.96 08/1312003 1,176.62 0.00 816.00 Tnpath Imaging Inc. 5,365.51 09/03/2003 3,204.16 03/11/2003 2,161 .35 000 1,436-00 Youbet corn Inc 4,412.16 09/03/2003 5,83386 07/1612003 (1,421 .70) 000 939-00 Ultrahfe Batteries Inc 9,785.51 09/03/2003 9,755.65 06126/2003 29 .86 0.00 581 .00 Ultra-hfe Batteries Inc 6,054.72 09/03/2003 7,722.94 08/1112003 (1,668.22) 000 46-00 NEVADA GOLD & CASINOS INC 455.83 09/03/2003 422 .44 07/16(2003 33 .39 000 12.00 ValueChck, Inc. 107 .75 09/03/2003 9575 08/18/2003 12 .00 0.00 1,276.00 ValueChck, Inc. 11,457 .81 09/03/2003 10,961 .10 08/21/2003 496.71 0.00 25-00 Able Laboratories Inc 548.97 09/0412003 410.23 04/15/2003 138 .74 000 99-00 Able Laboratories Inc 2,173.92 09/04/2003 1,619.64 05/09/2003 554 .28 000 491 .00 Able Laboratories Inc 10,781 .75 09/04/2003 9,713.31 06/04/2003 1,068.44 0.00 59.00 AT Road Inc 800 .61 09/04/2003 39004 03/1412003 410.57 000 221 .00 CPI Aerostructures; Inc 1,950.38 09/0412003 2,12056 07/08/2003 (170.18) 000 461 .00 DICK S SPORTING GOODS INC 16,58751 09/04/2003 6,033.61 10/16/2002 10,553 .90 000 43-00 DICK S SPORTING GOODS INC 1.547 .21 09/0412003 1,69260 08/11/2003 (14539) 0.00 500-00 Harvest Natural Resources 2,886.91 09/04/2003 3,36762 06/11/2003 (480.71) 000 244.00 I-Flow Corp 1,852.24 09/04/2003 2,222.28 08/12/2003 (370.04) 0.00 333.00 Imax Corp 2,543.29 09/04/2003 2,28108 04123/2003 262 .21 0.00 475-00 ICA Vision Inc 7,196.81 09/04/2003 7.029 .15 08/12/2003 16766 0.00 579-00 Puma Technology Inc 1,82286 09/04/2003 1,152.54 03/11/2003 670.32 0.00 690-00 Puma Technology Inc 2,172.32 09/0412003 1,897.20 05/09/2003 27512 000 369-00 CPI Aerostructures; Inc 3,23667 09/05/2003 3,54067 07/08/2003 (30400) 000 333-00 Faro Technologies Inc 3,81442 09/05/2003 3,807.79 08/27/2003 663 000 408.00 M Systems Fish Dsk Pionr 6,93387 09/05/2003 5,22872 07/02/2003 1,70515 000 51000 Gevity Hr Inc 9,205.06 09/05/2003 2,811 .72 02/04/2003 6,393.34 000 50000 Harvest Natural Resources 2,817.66 09/0512003 3,36762 06t 1 112003 (549 .96) 0.00 102.00 K-Swiss Inc. - Cl A 4,12060 09/05/2003 3,094.43 04125/2003 1,026.17 0.00 299.00 LCA Vision Inc 4,658.20 09/05/2003 4,42466 08/12/2003 233.54 0.00 505-00 Merge Technologies Inc 8,003.86 09105/2003 5,022-78 05/13/2003 2,981 08 000 5.00 Merge Technologies Inc 79.25 09/05/2003 5021 05/1412003 29 .04 0.00 D.riehaus Capital Management Friday January 23, 2004 16:56:36 Page 56 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Reatized Unamortized Bond Ouantity Security Descrii3tio Proceeds Date Cost Date Gain (- Loss) Premium Discount)

1,268.00 Puma Technology Inc 3,912.85 09/05/2003 2,524.04 03/11/2003 1,38881 0.00 115 .00 Wireless Facilities, Inc. 1,685.20 09/05/2003 963.83 05/07/2003 721 .37 0.00 145 .00 Wireless Facilities, Inc. 2,124.82 09/05/2003 1,254.26 05/0912003 870 .56 0.00 765.00- Gevity Hr Inc 12,850.09 09/08/2003 4,217.58 02/0412003 8,632.51 000 1,00100 Harvest Natural Resources 5,729.04 09/0812003 6,741 .97 06/11/2003 (1,01293) 000 24.00 LCA Vision Inc 391 .18 09/08/2003 298 .01 07/23/2003 93 .17 0.00 140.00 LjCA Vision Inc 2,281 .89 09/0812003 1,912.79 07/28/2003 369 .10 0.00 91.00 ICA Vision Inc 1,483.23 09/0&-2003 1,34664 08/12/2003 13659 0.00 2,690.00 Natural Health Trends Corp 18,903.34 09/08/2003 21,256 .38 07/14/2003 (2,353 .04) 0.00 765 .00 Terayon Communication Sy 5,995.79 09/08f2003 5,294.03 0910=003 701.75 0.00 107.00 Wireless Facilities, Inc 1,539.79 09/0812003 89678 05/07/2003 643 .01 0.00 282.00 Faro Technologies Inc 3,04-8.75 09/09/2003 3,224.61 08/27/2003 (175 .86) 0.00 501 .00 Innovex Inc. 6,752.46 09/09/2003 3,20475 01/29/2003 3,547.71 0.00 144.00 Innovex Inc. 1,940.83 09/09/2003 914 .73 01/31/2003 1,026.10 0.00 2,029.00 Mobility Electronics Inc 15,16993 09/09/2003 7,697.26 06f2Y2003 7,492.67 0.00 2,179-00 Mobility Electronics Inc 16,299 .45 09/09/2003 9,202.87 0612612003 7,096.58 0.00 1,007.00 Mobility Electronics Inc 7,532.60 09/0912003 7,741.72 08/2712003 (209 .12) 000 175 .00 Mobility Electronics Inc 1,309.04 09/0912003 1,412.34 09/02/2003 (103 .30) 000 156 .00 Oxford Industries Inc. 9,047.57 09/0912003 6,09080 05/1412003 2,956.77 000 1,235.00 Socket Communications 2,827.25 09/0912003 4,047 63 07/31f2003 (1,220 .38) 0.00 2.00 NEVADA GOLD & CASINOS INC 19.87 09/0912003 18.37 07/1612003 1.50 000 506.00 Wireless Facilities, Inc. 6,805.37 09/09/2003 4,240.84 05/0712003 2,564.53 0.00 898.00 AT Road Inc 11,417 .89 09/10(2003 5,93659 03/1412003 5,481.30 0.00 235.00 Innovex Inc. 2,765.56 09/10/2003 1,445.25 01/30/2003 1,320.31 0.00 342.00 Innovex Inc. 4,024.77 09/1012003 2,172.49 01/31/2003 1,852.28 000 423.00 Mobility Electronics Inc 3,066.60 09/10/2003 1,60341 06/25/2003 1,463.19 000 304-00 Performance Tech Inc 2,990.91 09/10/2003 2,949.41 07/08/2003 41 .50 0.00 283.00 Socket Communications 663 .02 09/10/2003 92751 07/31/2003 (26449) 0.00 319-00 Socket Communications 74736 09/10/2003 1,053.15 08/01/2003 (305 .79) 000 672-00 Socket Communications 1,574.37 09/10/2003 2,102.41 09105/2003 (528 .04) 000 426-00 Socket Communications 99804 09/10/2003 1,254.62 08/28/2003 (256 .58) 0.00 867.00 Socket Communications 2,031.22 09/10/2003 2,596.33 08/2912003 (565 .11) 0.00 260.00 Select Comfort Corp . 5,779.76 09/1012003 3,171.09 04/29/2003 2,608.67 0.00 110.00 Select Comfort Corp . 2,445.28 09/1012003 2,21395 07/03/2003 231 .33 0.00 434.00 Wireless Facilities, Inc 5,68148 09/10/2003 3,637.40 05/07/2003 2,044.08 0.00 241 .00 Mobility Electronics Inc 1,74234 09/11/2003 91353 06125/2003 828.81 000 209.00 Wireless Facilities, Inc 2,601 .93 09/11/2003 1,75165 05/07/2003 850.28 000 318.00 Wireless Facilities, Inc. 3,958.91 09/11/2003 2,601.75 05/08/2003 1,357.16 000 366.00 Gevity Hr Inc 5,989.59 09112f2003 2,017 .82 02104f2003 3,97 L77 0.00 425.00 Harvest Natural Resources 2,479.37 09/12/2003 2,862.48 06111/2003 (383 .11) 0.00 256.00 Millicont Ind Cellular S a 10,710.02 09/1212003 8,95232 08/22r2OO3 1,757.70 0.00 !.019-00 Network Engines Inc 7,108.92 09,112,120-03 6,110. 69 00=28r.= 9^70.23 000

0 0 0 0 0 0 0 0 - 0 -----o 0 0 0 0 0 0 0 0 0

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost -Date Gain (- Loss) Premium Discount)

10200 Netease com Inc. ADR 6,018.61 09/1212003 471.23 11/05/2002 5,547.38 0.00 10200 Netease com Inc. ADR 6,01861 09/12/2003 5,56148 09/0212003 457.13 0.00 26100 Oxford Industries Inc 15,818 .07 09/12/2003 10,19038 05/14/2003 5,627.69 0.00 2,03000 Puma Technology Inc 7,522.78 09/12/2003 4,040.86 03/11/2003 3,481-92 0.00 44400 Socket Communications 1,051 .93 09/12t2003 1,30763 08128/2003 (255 .70) 0.00 5,07600 24.r7 Real Media Inc 8,053.36 09/1212003 5,75593 06t0412003 2,297.43 000 527.00 Gevity Fir Inc 8,55702 09/15/2003 2,90544 02/04/2003 5,651 .58 000 1,181 .00 Harvest Natural Resources 6,94760 09/15/2003 7,95431 06111/2003 (1,006.71) 0.00 52-00 Network Engines Inc 343.13 09/15/2003 27999 08/18/2003 63 .14 000 536.00 Network Engines Inc 3,536.84 09/15/2003 3,06796 08/19/2003 468.88 000 431 .00 Network Engines Inc 2,843.99 09/15/2003 2,58798 08128/2003 256.01 0.00 232.00 Performance Tech Inc 2,368.60 09/15/2003 2,25086 07/08/2003 117.74 0.00 17600 Socket Communications 41401 09/15/2003 518.34 08/28/2003 (104.33) 000 171.00 Terayon Communication Sy 95605 09/1512003 859.34 07/31/2003 96 .71 000 1,143.00 Terayon Communication Sy 6,390.44 09/15/2003 7,909.90 09/0212003 (1,519.46) 000 1,698.00 24/7 Real Media Inc. 2,578.64 09/15/2003 1,925.45 06104/2003 653.19 000 9700 Gevity Hr Inc 1,645.04 09/16/2003 534.78 02/0412003 1,110.26 0.00 382.00 Hams Interactive, Inc. 2,643.31 09/16/2003 2,33584 06105/2003 307.47 000 204.00 Metrologic Instruments 8,118.81 09/16t2003 8,56545 08/2912003 (446.64) 0.00 2600 Performance Tech Inc 268.04 09/16/2003 25225 07/08/2003 1579 000 522-00 Socket Communications 1,286.70 09/16/2003 1,537.35 08/28/2003 (250.65) 0.00 1,410.00 2417 Real Media Inc. 2,08265 09/1612003 1,598.87 06/0412003 483.78 0.00 255-00 Able Laboratories Inc 5,800.97 09/17/2003 4,171.80 05/09/2003 1,629.17 0.00 56-00 Bentley Pharmaceuticals 1,029.65 09/17/2003 904.56 08/12/2003 125.09 0.00 44900 Bentley Pharmaceuticals 8,255.60 09/1712003 7,565 11 09/04/2003 690.49 000 1,020.00 Dot Hill Systems Corp 15,890 .24 09/1712003 18,530.34 09/0212003 (2,64010) 000 891 .00 Harns Interactive, Inc 6,240.53 09/1712003 5,44825 06105/2003 79228 0.00 153.00 K-Swiss Inc. - CI A 5,842.79 09/17/2003 5,72373 09/15/2003 11906 0.00 55-00 LCA Vision Inc 1,018.00 09/17/2003 68295 07/23/2003 335.05 0.00 5 1 .00 Millicom Intl Cellular S a. 2,168.42 09/17/2003 55894 05/0212003 1,609.48 0.00 51-00 Mithcom Intl Cellular S.a. 2,168.42 09/17/2003 1,78347 08/22/2003 384-95 0.00 179.00 Manuatech Inc 1,268.69 09/17/2003 1,20535 06127/2003 63 .3 A 0.00 22600 Mannatech Inc 1,601.81 09/1712003 1,734.44 06130/2003 (132.63) 0.00 76 .00 Netease.com Inc. ADR 4,630.46 09/17/2003 351.11 11/05/2002 4,279.35 0.00 26-00 Performance Tech Inc 25842 09/17/2003 25225 07/08/2003 6.17 0.00 115.00 Socket Communications 278.42 09/17/2003 338.69 08/28/2003 (6027) 000 253.00 Select Comfort Corp 7,01157 09/17/2003 3,085.71 04/29/2003 3,925.86 000 1,830.00 24n Real Media Inc. 2,75469 09/17/2003 2,075.13 0610412003 679.56 000 1,161 .00 Crossroads Systems 2,788.42 09/18/2003 3,16331 08/28/2003 (37489) 000 764.00 Evolving Systems Inc. 8,556.39 09/18/2003 3,24583 06tO9/2003 5,31056 0.00 1,273.00 Hams Interactive, Inc. 9,032.14 09/18/2003 7,78409 06t05/2003 1,248.05 0.00 298.00 LCA Vision Inc 5,525.93 09/1812003 3,70033 07123/2003 1,825.60 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 58 Gains and Loss Reportfi-om 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHA US FOUNDA TION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceed Date cost Date Gain (- Loss Premium Discount) 16200 Mannatech Inc 1,163-10 09/1812003 1,09089 06/27/2003 72.22 0.00 208 .00 Performance Tech Inc 2,03830 09/18/2003 2,01802 07/0812003 2028 0.00 1,274.10 Steelcloud Inc 5,97477 09/18/2003 5,779.53 08/20/2003 195 .24 0.00 23000 Select Comfort Corp. 6,345.40 09/18/2003 2,805.20 04129/2003 3,54020 000 82.00 Spec tralink Corporation 1,783.43 0911 &2003 1,579-50 08/042003 204.93 0.00 427.00 Spectrahnk Corporation 9,286.89 09/18/2003 7,813.72 08/1412003 1,473.17 000 10.00 Sonic Solutions 159 .79 09/18/2003 12448 08/21/2003 35.31 000 306.00 Sonic Solutions 4,889.65 09/1812003 3,972.89 09/22/2003 916.76 0.00 703.00 Sonic Solutions 11,23341 09/18/2003 9,572.40 08/28/2003 1,661.01 0.00 3,056.00 Verso Technologies Inc 14,62163 09/18/2003 11,930-13 08/2712003 2,691 .50 000 85.00 Ask Jeeves Inc 1,79953 09/19/2003 21853 12/02/2002 1,581 .00 0.00 723.00 Ask Jeeves Inc 15,306.56 09/19/2003 14,24079 09/0212003 1,06577 0.00 210.00 Ask Jeeves Inc 4,445.89 09/19/2003 4,601.63 09/09/2003 (15574) 0.00 1,085.00 Crossroads Systems 2,585.73 09/19/2003 2,956.24 08/28/2003 (370.51) 000 255 .00 Evolving Systems Inc. 2,827.81 09/19/2003 1,08336 0610912003 1,744.45 000 17000 LCA Vision Inc 3,076.85 09/19rM3 2,110.92 07/23/2003 965.93 0.00 105.00 Mannatech Inc 745.46 09/19/2003 70705 06127/2003 38 .41 0.00 1,286.00 Steelcloud Inc 5,727.27 09/19/2003 5,462.38 08/12/2003 264.89 0.00 916 .00 Steelcloud Inc 4,079.46 09/19/2003 3,930.81 08/13/2003 148 .65 0.00 767 .00 Steelcloud hic 3,41588 09119r2OO3 3,47951 O8t2Of2OO3 (63 .63) 0.00 345 .00 Crossroads Systems 792.80 09/2212003 94000 08/28/2003 (147.20) 0.00 304.00 LCA Vision Inc 5,287.04 09/22/2003 3,774.83 07/23/2003 1,512.21 0.00 190.00 Mannatech Inc 1,338.29 09/22/2003 1,18248 06126/2003 155 .81 000 13.00 Mannatech Inc 91.57 09122f2003 87 .54 06f2712003 4.03 0.00 48.00 Network Engines Lac 323 .27 09/22t2003 118.62 05/23/2003 204.65 0.00 1,479.00 Network Engines Inc 9,960.74 09/22/2003 7,96368 08/1812003 1,997.06 0.00 764.00 Steelcloud Inc 3,180.91 09/2212003 3,245.14 09/12/2003 (64.23) 0.00 764.00 Sonic Solutions 12,29967 09122/2003 9,51020 08/21/2003 2,789.47 0.00 142 .00 24n Real Media Inc. 219.26 09/22/2003 161 .02 0610412003 58 .24 0.00 859 .00 Ditech Communications 8,731-40 09123/2003 6,229.12 09/03/2003 2,502.28 000 97.00 Mannatech Inc 669.26 09f2Y2003 603 .69 06/26f2OO3 65.58 0.00 87.00 Steelcloud Inc 365.38 09/23/2003 36954 08/12/2003 (4.16) 0.00 8.00 Sierra Wireless Inc 116 .07 09/23/2003 5994 07/09/2003 56.13 0.00 638.00 Sierra Wireless Inc 9,256.94 09/23/2003 6,756.74 09/03/2003 2,50020 0.00 382.00 Sierra Wireless Inc 5,542.56 09/23/2003 4,078.73 09/04/2003 1,463.83 0.00 612.00 Tumbleweed Commumcations 3,753.52 09/23/2003 2,04600 08/19/2003 1,707.52 0.00 425.00 Tumbleweed Communications 2,606.61 09123/2003 1,470.72 08/20/2003 1,135.89 0.00 1,019.00 Tumbleweed Communications 6,249.74 09/23/2003 5,041.26 09/1212003 1,208.48 0.00 401 .00 Ultrahfe Batteries Inc 4,652-96 09f23f2OO3 2,865-99 05/19/2003 1,786.87 0.00 170 .00 Ultrabfe Batteries Inc 1,972.54 09/23/2003 1,76620 06r2612003 206.34 0.00 189 .00 Ultralife Batteries Inc 2,192.99 09/2312003 1,94292 06t27/2003 25007 0.00 90.00 D:=,I- --flommunde-a .'-V~ 8877.12 09/24r2003 366.93 05112/22003 5iO 19 0.00

0 0 0 0 40 0 0 0 0 0 0 0

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Sale Purchase Realized Unamortized Bond Quantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

141.00 Ditech Communications 1,374.16 09124/2003 1,022.48 09/03/2003 351 .68 000 232.00 Evolving Systems Inc. 3,203.35 0912V2003 985 .65 06/O9f2OO3 2,217.70 000 397.00 Evolving Systems Inc. 5,481.60 09/2412003 1,62725 06110/2003 3,854.35 0.00 290.00 Mannatech Inc 1,892.16 09124/2003 1,80483 06126/2003 87 .33 0.00 15700 Netease com Inc. ADR 10,449.01 09/24/2003 72532 11/05/2002 9,723.69 000 17700 Sina Corp 7,698.16 09/24/2003 6,433.61 09/1012003 1,264.55 0.00 7800 Sina Corp 3,392.41 OW242003 2,97438 09/1 Y2003 51803 000 261 .00 Sierra Wireless Inc 3,757.86 09/24/2003 1,888.86 0611812003 1,86900 0.00 767.00 Sierra Wireless Inc 11,043 .20 09124/2003 5,746.36 07/09/2003 5,296.84 0.00 883.00 Tumbleweed Communications 5,773.66 09/24/2003 2,88001 08/18/2003 2,893.65 0.00 659.00 Tumbleweed Communications 4,309.00 09/24/2003 2,20313 08/19/2003 2,105.87 000 718.00 Able Laboratories Inc 15,336.40 09/25/2003 7,28950 12/02/2002 8,04690 0.00 510.00 Ask Jeeves Inc 10,026.12 09725/2003 1,311 17 12/0212002 8,714.95 0.00 220.00 Conceptus Inc. 3,335.46 09/25/2003 3,99520 07/31/2003 (659 .74) 0.00 50900 Conceptus Inc 7,71704 09/25/2003 8,74462 08/1412003 (1,027 .58) 0.00 3900 Ditech Communications 34300 09/25/2003 153 .98 05/09/2003 189.02 000 121.00 Ditech Communications 1,064.19 09/25/2003 493 .32 05/12/2003 57087 0.00 7800 ManDatech Inc 506.97 0912512003 485 .44 06f2612003 21 .53 0.00 75900 Netegrity Inc. 7,210.15 09/25/2003 7,379.76 08t2912003 (169 .61) 000 106.00 Ask Jeeves Inc 1,842.82 09/26/2003 272.52 12102/2002 1,57030 0.00 79.00 Candela Corp. 1,096.57 09/26/2003 96924 05/14/2003 127.33 0.00 682.00 Candela Corp. 9,466.60 09/2612003 11,072.54 09/24/2003 (1,60594) 0.00 1,000.00 M Systems Fish Dsk Pionr 15,57506 09/2612003 12,81550 07/02/2003 2,75956 0.00 174 .00 Mannatech Inc 1,11523 09/26/2003 1,082.90 0612612003 32.33 000 403.00 Netegrity Inc 3.930 .63 09/2612003 3,601.17 07/24/2003 32946 000 307.00 Netegnty Inc. 2,99430 09/26/2003 2,69853 08/18/2003 295.77 0.00 68.00 Netegrity Inc. 663 .23 09/26/2003 608 .28 08/1912003 54.95 0.00 600 Netegrity Inc 58.52 09/26/2003 5834 08/29/2003 0.18 0.00 489.00 Candela Corp . 6,117.58 09/29/2003 5,612.06 05/09/2003 505.52 0.00 20.00 Candela Corp 250.21 09/29/2003 245.38 05/14/2003 4 83 000 76.00 4kids Entertainment Inc 1,503.76 09/29/2003 1,657.65 08/28/2003 (153 .89) 0.00 187 .1-) Mobility Electronics Inc 1,327.63 09/2912003 1,657.89 09/18/2003 (33026) 0.00 407-00 Terayon Communication Sy 2,258.54 09/29/2003 2,045 33 07/3112003 21321 0.00 78600 Columbia Laboratories Inc 8,262.43 09/3012003 8,65205 OW25/2003 (38962) 0.00 142-00 Columbia Laboratories Inc 1,49270 09/30/2003 1,64050 0612612003 (14780) 0.00 9000 Columbia Laboratories Inc. 946.08 09/30/2003 1,209.95 08/04/2003 (263 .87) 0.00 1,976.00 Mannatech Inc 10,715 .40 09/30/2003 12,297 .74 06126/2003 (1,582 .34) 0.00 204.00 Netease com Inc. ADR 11,500.53 09/30/2003 942.46 11/05/2002 10,55807 0.00 50500 Radware Ltd 9,17183 09/30/2003 11,50395 09/19/2003 (2,332 .12) 0.00 131 .00 Radware Ltd 2,379.23 09/30/2003 2,843 .92 09/23/2003 (46469) 0.00 325.00 Spectratink Corporation 6,169.47 09/30/2003 5,856.24 08/01/2003 313.23 0.00 184 .00 Spectralink Corporation 3,49287 0913012003 3,367.03 08/1412003 12584 000 Dfiehaus Capital Management Friday January 23, 2004 16:56.36 Page 60 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Descriptio Proceeds Date Cost Date Gain (- Loss) Preadurn Discount)

565 .00 Ask leeves Inc 9,11901 lOtOI12003 1,452.57 1210212002 7.666.44 000 50.00 Concur Technologies Inc. 58072 lOtOl/2003 639.18 09/0&2003 (58 .46) 000 51.00 Car2co Pharm Labs Inc 499.77 10/01/2003 571 .20 07/31/2003 (71 .43) 0.00 36.00 Ecollege corn Inc 746.96 10/01/2003 320.91 06fO5/2003 42605 0.00 89.00 Kfx Inc 44853 1 OtO 1/2003 478 .95 10/01/2003 (3042) 0.00 146.00 liveperson Inc 559-15 10/01/2003 593 .51 09/30/2003 (3436) 000 15800 Mannatech Inc 909.73 10/01/2003 983 .32 0612612003 (73-59) 0.00 62.00 Network Engines Inc 414.76 10/01/2003 153 .22 05/23/2003 261 .54 0.00 15 00 Netease com Inc. ADR 813.70 lOtOI12003 69.30 11/05/2002 744.40 000 65.00 Orasure Technologies Inc 624.62 10/01/2003 588.90 08/18/2003 3572 000 148 .00 Peerless Systems Corp 45285 1 OtO 1/2003 542.93 09/0912003 (9008) 0.00 21.00 Sina Corp 76226 lOtOI12003 763.31 09/10/2003 (1 .05) 0.00 52.00 SunOpta Inc 48437 10/0112003 517.12 09/16t2003 (32 .75) 000 76.00 Tumbleweed Communications 413.42 10/01/2003 247.88 08/18/2003 16554 0.00 61.00 ValueChck, Inc. 506.27 10/01/2003 486.71 08/18/2003 1956 0.00 11100 Vixel Corp 798.79 1010112003 932.94 08/0112003 (134 .15) 0.00 12900 Verso Technologies Inc 42502 10/0112003 480.71 08/2112003 (55 .69) 0.00 24.OG Verso Technologies Inc 79.07 10/01/2003 93.69 08127/2003 (1462) 0.00 595 .00 Verso Technologies tnc 1,963.68 lOtOl/2003 2,201 .66 OV20/2003 (237 .98) 000 168.00 Verso Technologies Inc 554.45 10/01/2003 626.04 OWI/2003 (71 .59) 000 257 .00 Bentley Pharmceuticals 3,760-88 1OWnOO3 4,03336 08111/2003 (272 .48) 0.00 25200 Bentley Pharmaceuticals 3,687.72 10102t2003 4,070.53 OW I V2003 (382 .81) 0.00 29600 Candela Corp. 3,737.80 IWOV2003 3,303.21 04/30/2003 434.59 0.00 314 .00 Candela Corp. 3,965.10 IUV2003 3,603.65 05109f2003 361 .45 0.00 25400 41cids Entertainment Inc 5,590.78 10/02/2003 5,540.04 08128/2003 5074 0.00 538 .00 Invivo Coipor2tion 8,254.89 IWOV2003 6,691 .74 07/21/2003 1,563 15 000 199 .00 Invivo Corporation 3,053.39 10/02/2003 2,510.76 07/22/2003 542.63 000 710.00 Terayon Communication Sy 4,343.50 10/02/2003 3,259.97 07/21/2003 1,083.53 0.00 307 .00 Terayon Communication Sy 1,878.10 10102/2003 1,542.79 07/31/2003 335 .31 0.00 763.00- ValueClick, Inc. 6,275.22 1 GtO2/2003 6,087.90 08/18/2003 187 .32 0.00 129 .00 Candela Corp. 1,668.47 10/03/2003 1,25130 04/2812003 417.17 0.00 24.00 Candela Corp. 310.41 1010312003 267.83 0413W2003 4258 0.00 821 .00 Caraco Pharm Labs Inc 7,875.56 1 GtO3/2003 8,415.25 07/25/2003 (53969) 000 38.00 Caraco Pharm Labs Inc 364.52 10/03/2003 425.60 07/31/2003 (61 .08) 000 508 .00 Ditech Communications 4,584.33 10/03/2003 2,00568 05/09/2003 2,57865 000 1,209.00 Evolving Systems Inc. 15,617 .00 10/03/2003 4,955.52 06/10/2003 10,661 .48 000 49500 Faro Technologies Inc 6,283.23 lOtO3/2003 3,810.46 07/03/2003 2,472.77 0.00 13.00 Fare, Technologies Inc 165 .01 10/03/2003 148 .65 08127/2003 1636 0.00 153 .00 K-Swiss Inc. - Cl. A 5,568.93 lQt03/2003 5,723.73 09/15/2003 (154.80) 0.00 50800 Merge Technologies Inc 8,828.62 IW03/2003 5,05262 05/13/2003 3,77600 000 102 .00 Netease com Inc. ADR 6,320.08 10/03/2003 471 .23 11/05/2002 5,948 85 0.00 24.0-n Penwest Phn .-maccul.cals Co J5 4' 7. 0' VO I W03r2.003 33394 03r201-2003 193 .86 0.00

0 0 0 0 0 0 0 -- 0 0 0 0

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230.00 Penwest Pharmaceuticals Co 5,058.08 10/03/2003 3,389.90 03/21/2003 1,668 18 0.00 253.00 Radware Lid 5,038.38 10/03/2003 5,454.68 09/03/2003 (416.30) 0.00 1 .00 Radware Ltd 19.91 10103/2003 21 .71 09/23/2003 (1.80) 000 729.00 Invivo Corporation 11,55906 10103/2003 9,067.43 07121/2003 2,491.63 0.00 1 .00 Invivo Corporation 1586 10/03/2003 0.00 09/29/2003 15.86 000 216.00 Sina Corp 8,294.01 10/03/2003 1,73042 03/20/2003 6,56359 0.00 3800 Sina Corp 1,459.13 10/03/2003 1,381 .23 09/10/2003 7790 000 759.00 Sonic Solutions 12,99286 10/03/2003 9,323.94 07/31/2003 3,668.92 0.00 4.00 Sonic Solutions 6847 10/03/2003 49.79 Ogf2lf2OO3 18.68 0.00 508.00 Sierra Wireless Inc 7,365.65 10/03/2003 3,676.41 06/18/2003 3,689.24 000 I 305.00 Ultrahfe Batteries Inc 4,258.21 1010312003 2,179.87 05/19/2003 2,078.34 0.00 203 .00 Ultralife Batteries Inc 2,834.15 10/0312003 3,045 55 10/01/2003 (21140) 000 721 .00 Candela Corp . 8,947.18 1010612003 6,851 .45 04125/2003 2,095.73 000 203 .00 Candela Corp 2,519.11 10/06/2003 1,969.10 OV2812003 55001 0.00 983 .00 Columbia Laboratories Inc. 10,815 .33 10/06/2003 10,820 .57 06r2512003 (5.24) 0.00 412.00 Caraco Pharm Labs Inc 3,800.64 10/0612003 4,223.00 07/25/2003 (422 .36) 0.00 620.00 Ditech Communications 5,62605 1010612003 2,195.59 04/14/2003 3,43046 0.00 379.00 Ditech Communications 3,439 15 10106r2003 1,496.36 05/09/2003 1,942.79 0.00 2,037.00 Lifecefl Corporation 13,362.08 lOtO612003 14,388 .76 09/1812003 (1,026 .68) 000 136 .00 Neoware Systems Inc 2,669.55 IWW2003 2,767.07 09/08/2003 (97 .52) 000 372.00 Neoware Systems Inc 7,302.02 10/06/2003 7,965.71 09/0912003 (663 .69) 000 709.00 Ask Jeeves Inc 14,658 .66 10/07/2003 1,822.78 12/02/2002 12,83588 0.00 508.00 EcoUege com, Inc 10,930.05 10/07f2003 4,52841 06/O5f2OO3 6,301 .64 000 46.00 Faro Technologies Inc 579.63 10/07/2003 347 .46 07/02J2003 232.17 0.00 971 .00 Faro Technologies Inc 12,235 18 10/07/2003 7,47466 07/03/2003 4,760.52 0.00 379.00 K-Swiss Inc. - Cl. A 13,918 .01 10/07/2003 11,497 .91 04/25/2003 2,420.10 0.00 102 .00 K-Swiss Inc. - Cl. A 3,745.74 10107/2003 3,81582 09/15/2003 (70 .08) 0.00 481 .00 Mastec Inc 5,716.99 10/0712003 5,27691 10(01/2003 44008 0.00 281 .00 Mastec Inc 3,339.86 10/07/2003 3,245.30 10/0212003 9456 000 762.00 Network Engines Inc 5,204.21 lOtO7/2003 1,883.14 05/23/2003 3,32107 000 763.00 Network Engines Inc 5,211.04 10/07/2003 5,642 39 10102/2003 (431 .35) 0.00 796.00 Spectralink Corporation 16,789 .08 10/0712003 14,343 .28 08/01/2003 2,445.80 0.00 517.00 SunOpta Inc 5,092.21 10/07/2003 5,141 .41 09/1612003 (4920) 000 25400 Netopia Inc 2,224.93 10(0&'2003 2,119.48 1010612003 10545 0.00 762.00 Trident Microsystems 12,938 .15 10/0&-2003 11,157 .81 1 Qt03/2003 1,780.34 0.00 67.00 Laserscope 924.65 1010912003 58228 07/07/2003 342.37 000 994.00 Laserscope 12,199 .96 10/09f2OO3 9,77412 09/15f2003 2,425.74 000 320.00 Laserscope 4,416.24 10/09/2003 3,619.74 09/16(2003 79650 000 3300 Netopia Inc 28098 10/09/2003 261 .04 10/03/2003 1994 0.00 763 .00 Netopia Inc 6,496.55 10/09/2003 6,366.78 10/0612003 129.77 000 3,776.00 Vixel Corp 36,972 .33 10/09/2003 19,52848 0610212003 17,44385 0.00 260.00 Vixel Corp 2,545.76 10/09/2003 1,469.78 0&0612003 1,075.98 0.00 Driehaus Capital Management Friday January 23, 2004 16:56.36 Page 62 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

385.00 Vixel Corp 3,769.69 10/09/2003 2,230.27 06109/2003 1,539.42 0.00 774.00 Vixel Corp 7,578.54 10/0912003 5,569.32 07/08/2003 2,00922 0.00 175.00 Vixel Corp 1,71350 10109/2003 1,470.86 08/01/2003 242.64 0.00 339.00 Netopia Inc 2,88136 lOtlGt2OO3 2,681.56 10/03/2003 199 .80 0.00 32.00 Neoware Systems Inc 62621 10/10/2003 64613 08/22/2003 (19 .92) 0.00 374.00 Neoware Systems Inc 7,31883 1 Ot 1 0/2003 7,609.44 09/08/2003 (29061) 0.00 578 .00 ValueChck, Inc. 5,26683 1 Ot 10/2003 2,257.98 04/11/2003 3,00885 0.00 184.00 ValueChck, Inc. 1,67664 lOtIO/2003 1,468.12 08/18/2003 208.52 000 255 .00 Bennett Environmental Inc 4,94353 lOtI312003 4,149.10 09/lQt2003 794.43 000 241 .00 Bennett Environmental Inc 4,672.12 IQtI3/2003 3,881.91 09/18/2003 790.21 0.00 227 .00 Diamondcluster Intl . 1,897.81 10/13/2003 1,450.39 08/18/2003 447.42 000 792.00 Diamondcluster Intl 6,621.43 lGtl3/2003 5,176.99 09/05/2003 1,444.44 0.00 508.00 Faro Technologies Inc 8,789.55 lQt13/2003 3,837.18 07/02t2003 4,952.37 0.00 102.00 Millicom Intl Cellular S a. 5,49824 1 Ot 13/2003 1,117.88 05/02/2003 4,380.36 0.00 389 .00 Netopia Inc 3,31023 10/13/2003 3,077.07 1 GtO3/2003 233.16 0.00 102.00 Sina Corp 4,242.29 1 Ot 13/2003 817 .14 03/20/2003 3,42515 0.00 516.00 Sierra Wireless Inc 9,189.47 10/13/2003 3,734.30 06tl8/2003 5,455.17 0.00 391 .00 Faro Technologies Inc 6,893.00 lQtl4/2003 2,953.42 07/02/2003 3,939.58 0.00 772.00 Laserscope 11,332 .03 10114/2003 6,709.22 07/07/2003 4,622.81 0.00 666.00 Netegrity Inc. 8,068.73 10(14/2003 8,028.63 10/06t2OO3 40.10 0.00 509.00 Sportsman's Guide Inc. 9,319.35 10/14/2003 7,024.20 1 OtO3/2003 2,295.15 0.00 171.00 Tyler Technologies Inc 1,299.54 10/14/2003 1,18007 09/16t2003 119 .47 0.00 849 .00 Tyler Technologies Inc 6,452.09 10/14/2003 5,885.69 09/17/2003 56640 0.00 1,249.00 Ditech Communications 10,544.31 10/15/2003 4,423.05 04114/2003 6,121 .26 0.00 23300 Select Comfort Corp. 6,50564 lOtl5/2003 6,85020 10/09/2003 (344.56) 0.00 152 .00 Sportsman's Guide Inc. 2,735.87 10/15/2003 2,096.23 09122/2003 639.64 0.00 254.00 Sportsman's Guide Inc. 4,571.78 lOtl5/2003 3,505.20 10/03/2003 1,066.58 0.00 475.00 Trident Microsystems 9,138.18 lOtl5/2003 6,738.30 09/04/2003 2,399.88 0.00 255.00 Trident Microsystems 4,905.76 lQt15/2003 3,733.91 lOtO3/2003 1,171 .85 0.00 915.00 VA Umtx Systems, Inc. 4,564.41 10/1612003 4,663.33 lOtIO/2003 (98 .92) 0.00 771 .00 Laserscope 10,689 .17 10/16(2003 6,700.53 07/07/2003 3,988.64 0.00 127AW Switchboard Incorporated 1,079.72 10116t2003 964.46 08/1312003 115 .26 0.00 890.00 Switchboard Incorporated 7,566.51 10116t2003 6,729.65 08/14/2003 83686 0.00 88000 Switchboard Incorporated 7,481.49 10tl6t2003 8,363 17 10/01/2003 (881 .68) 0.00 11700 M Systems Fish Dsk Pionr 2,423.54 10/17/2003 2,161 81 10/03/2003 261 .73 000 645.00 M Systems Fish Dsk Pionr 13,360 .54 10/17/2003 13,043 .38 1010612003 317.16 0.00 543 .00 Comtech Telecommunications 14,869 .08 10/2Ot2OO3 14,905 .13 09/18/2003 (3605) 0.00 865 .00 VA Linux Systems, Inc 3,872.65 10/20t2003 3,910.12 lOtOl/2003 (37 .47) 0.00 509.00 VA Linux Systems, Inc. 2,278.82 10/20/2003 2,350.82 1 OtO2/2003 (7200) 000 152.00 VA briax Systems, Inc. 680.51 lQt2Gt2003 774 .67 10/10/2003 (94 16) 0.00 297 .00 Mattson Technology Inc 3,445.89 10120/2003 3,539.79 10/10/2003 (93 .90) 0.00 597.00 Network Engines Inc 5,33209 1 Or20122003 4,749.55 1 QfOgr2003 58254 0.00

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165 .00 Network Engines Inc 1,473.69 10/20/2003 1,355.19 10/10/2003 118 .50 000 927 .00 Penwest Pharmaceuticals Co 15,886.64 10120/2003 11,858.93 03/19/2003 4,027.71 000 318 .00 Penwest Pharmaceuticals Co 5,449.79 10/20/2003 4,42472 03/20/2003 1,025.07 000 290.00 Trident Microsystems 5,64603 10121/2003 4,113.91 09/0412003 1,532.12 000 116 .00 Trident Microsystems 2,25841 10121/2003 1,627.29 10/02/2003 631 .12 000 508 .00 Ultalife Batteries Inc 7,359.10 10(21/2003 3,630.73 05/19/2003 3,72837 000 763.00 Mastec Inc 9,901.97 10/22/2003 8,370.64 10/01/2003 1,531 .33 0.00 670.00 Neoware Systems Inc 12,83257 IW22f2003 13,52944 OW212003 (695 87) 0.00 779.00 Supportcom Inc 8,516.94 10122/2003 10,545.09 10/06/2003 (2,02815) 0.00 1,511 .00 Verso Technologies Inc 5,913.79 10/22/2003 5,591.12 08/20/2003 322.67 000 74.00 Verso Technologies Inc 289.62 IW22f2003 268.92 OWV2003 20.70 000 939.00 Verso Technologies Inc 3,675.08 10/22/2003 3,39633 08/26t2OO3 27875 000 359-00 Edicts com Inc - CL A 1,444.73 10/23/2003 1,864.39 09/15/2003 (419 .66) 000 3,04900 E-Loan Inc. 10,689.02 10/23/2003 13,704.91 10113/2003 (3,015 .89) 0.00 1,769.00 Hams Interactive, Inc. 12,041 .00 1 Ot23/2003 10,817 .01 06tO5/2003 1,223.99 0.00 625.00 Laserscopc 7,493.08 10/23/2003 5,431.69 07/07/2003 2,061 .39 0.00 152 .00 Laserscope 1,822.32 10123/2003 1,31056 07/18/2003 511 .76 0.00 870-00 Edicts com Inc - CL A 3,030.53 10/24/2003 3,523.17 09/10/2003 (492.64) 0.00 405.00 Edicts com Inc - CL A 1,410.76 1 Ot2412003 2,103 29 09/15/2003 (692.53) 0.00 509.00 Edicts com Inc - CL A 1,77303 10/2412003 2,63662 09/1612003 (863 .59) 0.00 1,271.00 Edicts com. Inc - CL A 4,427.36 10/24/2003 6,38042 1010912003 (1,953 .06) 0.00 45400 Harris Interactive, Inc. 2,972.87 W24/2003 2,77610 06tO5/2003 196 .77 0.00 878 .00 Network Engines Inc 7,101.45 lOt24/2003 2.169.81 05/23/2003 4.93164 000 137-00 Network Engines Inc 1,10809 1012412003 1,089.93 10/0812003 18 .16 0.00 147.00 Orasure Technologies Inc 1,256.31 10124/2003 1,200.21 06/25/2003 56.10 000 927 .00 Orasure Technologies Inc 7,922.41 1012412003 7,634.22 06t2612003 288 19 000 454.00 Orasurc Technologies Inc 3,89002 10/2412003 4,113.24 08/ 1 8f2003 (233 .22) 000 66900 Performance Tech Inc 6,42624 10/24/2003 9,12616 10/0612003 (2,69992) 0.00 1,006.00 Encore Medical Corp 5,733.92 10/27/2003 6,90911 09108/2003 (1,175 .19) 000 261 .00 Harris Interactive, Inc. 1,662.23 10/27/2003 1,595.95 06105/2003 66.28 000 1,785.00 Encore Medical Corp 10,680.87 1 W28/2003 11,186 .77 08128/2003 (505 .90) 0.00 778 .00 Encore Medical Corp 4,655.31 10/28/2003 5,343.23 09/08/2003 (687 .92) 0.00 1,886.00 E P Medsystems Inc 6,383.62 10128/2003 7,829.65 10/0112003 (1,44603) 0.00 48.00 Hams Interactive, Inc. 299.42 10/28/2003 29351 06/05/2003 5.91 0.00 1,245.00 Netegnty Inc. 14,47206 lQt28/2003 9,65199 07/21/2003 4,82007 000 543.00 Netegnty Inc. 6,311.91 10/2&'2003 4,77297 08/18t2OO3 1,538.94 0.00 97-00 Netegnty Inc. 1,127.54 10/28/2003 1,169.34 10/06/2003 (41 .80) 000 809-00 Concur Technologies Inc. 9,222.73 1 Ot29/2003 3,63661 01/1012003 5,586.12 000 460-00 Concur Technologies Inc. 5,244.07 10/29/2003 5,88046 09/08/2003 (63639) 0.00 4,000-00 Corio Inc 10,403.81 1012912003 10,68847 08129/2003 (284.66) 0.00 753 .00 Corio Inc 1,958.52 10/2912003 2,205.10 09/0212003 (246.58) 0.00 1,099-00 Cono Inc. 2.858.45 10/29/2003 3,808.84 09/17/2003 (95039) 000 Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 64 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06056501 -- RICHARD H. DRIEHAUS FOUNDATION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

1,523.00 Diamondcluster Ind. 13,755 .23 10/29/2003 9,73106 08/18/2003 4,024.17 0.00 693 .00 Edicts com Inc - CL A 2,382.79 10/29/2003 2,80639 09/10/2003 (42360) 0.00 299 .00 Encysive Pharmaceuticals Inc 1,906.57 10/29/2003 1,621.79 09/10/2003 28478 000 764 .W Encysive Pharmaceuticals Inc 4,871.64 10/29/2003 4,63068 09/17/2003 240.96 000 458.00 Encysive Pharmaceuticals Inc 2,920.44 10/29/2003 2,763.85 09/1812003 15659 0.00 1,017.00 Encysive Pharmaceuticals Inc 6,484.90 10/29/2003 7,082.59 10103/2003 (597 .69) 000 657-00 E P Medsystems Inc 2,151.67 10129/2003 2,727.51 10101/2003 (575 .84) 000 761 .00 Merge Technologies Inc 13,50201 1012912003 7,568.98 05/13/2003 5,933.03 000 136-00 Netease .com Inc. ADR 6,874.31 10/29/2003 628 .31 11/05/2002 6,24600 0.00 1,707.00 Orasure Technologies Inc 14,153 .25 10/29/2003 13,937 .14 06/25/2003 21611 000 605-00 Palomar Medical Tech 4,011 .93 10/29/2003 2,60063 04/04/2003 1,411 .30 0.00 692-00 Palomar Medical Tech 4,588.85 10/29/2003 4,362.44 07/11/2003 226.41 000 117 .00 Palomar Medical Tech 775 .86 10129/2003 79211 08108/2003 (16 .25) 000 104 .00 Palomar Medical Tech 689 .65 10/29/2003 712 .61 08/11/2003 (22 .96) 0.00 230.00 Sina Corp 9,464.92 10/29/2003 1,842.58 03/2012003 7,62234 0.00 5,083-00 Trans meta CorplDelaware 19,27485 10/29/2003 17,992 .08 10/07/2003 1,282.77 0.00 101 .00 Bentley Pharmaceuticals 1,465.85 10/30/2003 1,50562 08/08/2003 (39 .77) 0.00 655.00 Bentley Pharmaceuticals 9,506.28 10/30/2003 10,27957 08/11/2003 (77329) 0.00 23.00 Cono Inc. 60.98 10/30/2003 61 .46 08/29/2003 (0.48) 0.00 1,495-00 Ediets com Inc - CL A 5,206.77 10/30/2003 6,054.19 09/10/2003 (847 .42) 0.00 698-00 Merge Technologies Inc 11,713 .07 1013012003 6,942.38 05/13/2003 4,770.69 000 129.00 Trident Microsystems 2,970.43 10130/2003 1,260.15 07/15/2003 1,710.28 0.00 647-00 Trident Microsystems 14,898 .22 10(3012003 9,076.37 1010V2003 5,821.85 000 498.00 Ciphergen Biosystems Inc. 5,451 .00 10/31/2003 6,738.79 09/23/2003 (1,287 .79) 000 324.00 Cono Inc 809 .19 10/3112003 865 .77 08/29/2003 (56 .58) 0.00 146.00 Diamondcluster Intl. 1,294.17 10/31/2003 922 .71 08/11/2003 371 .46 0.00 36.00 Diamondcluster Ind. 319.11 10/31/2003 23002 08/18/2003 89 09 0.00 152.00 Milbcom Ind Cellular S a. 9,332.36 10131/2003 1,66586 05/02/2003 7,66650 0.00 1,266.00 Mobility Electronics Inc 12,089 .47 10/3112003 13,067 40 10/21/2003 (977 .93) 0.00 338 .00 Optelecom Inc. 4,204.72 10131/2003 5,22808 09/04f2003 (1,023.36) 0.00 151.00 Performance Tech Inc 1,553.72 10/31/2003 1,465.00 07/08/2003 88 .72 0.00 63.00 Performance Tech Inc 648.24 10/31/2003 579.60 07/0912003 68 .64 000 94.00 Perfoi-mance Tech Inc 967.21 10(31/2003 1,282.30 10/0612003 (315 .09) 0.00 708 .00 Sonic Solutions 12,343 .67 10131/2003 8,697.43 07/31/2003 3,646.24 000

GAINS ONLY Total 2,763,989.26

LOSSES ONLY Total (951,329.55)

STOCK - Short Term 15,264,411 .42 13,451,751.79 1,812,659 .71 0 0 0

Driehaus Capital Management Friday January 23, 2004 16:56:36 Page 65 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHAUS FOUNDA TION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantit Security Descriotion Proceeds Date Cost Date Gain f- Loss) Premium Discount)

86200 Vitalworks Inc 2,66962 11/05/2002 3,239.47 10/31r2001 (569.85) 000 1,03900 Racing Champions Corp 14,76592 11/06/2002 5,28840 06r27/2001 9,477.52 0.00 1,071 .00 Vitalworks Inc 3,39941 11/0612002 4,024.92 10/31/2001 (625 .51) 000 826.00 Labonelnc: 13,18636 11/21/2002 11,41400 10/2912001 1,77236 000 2,588.00 Vitalworks Inc 9,627.73 11/27/2002 9,72594 10/31/2001 (98 .21) 000 577.00 Bin Reference Labs Inc. 3,448.79 12/0212002 3,085.63 10129/2001 363 16 000 1,361 .00 Bin Reference Ubs Inc. 8,134.85 12/02/2002 7,74195 11/02/2001 39290 000 739.00 Bin Reference Labs Inc 4,417.08 12/02/2002 3,951 .95 10/29/2001 465-13 0.00 370.00 Hancock Fabrics Inc. 5,549.83 12/02/2002 4,812.70 11/30/2001 737 .13 000 1,371 .00 Bio Reference Labs Inc. 7,924.13 12/03/2002 7,331 .70 10/29/2001 592 .43 000 261 .00 Gymboree Corp 4,445.45 1 Y2412002 2,583.48 11/08/2001 1,861.97 0.00 206.00 Fuel Tech N V 824 .59 01/02/2003 1,040.30 12/18t2OOl (215 71) 0.00 2,370.00 Tyler Technologies Inc 8,345.49 01/07/2003 10,04548 12/17/2001 (1,699.99) 0.00 1,397.00 Bio Reference Labs Inc 8,276.94 01/17/2003 6,450.96 07/17/2001 1,82598 0.00 414.00 Bin Reference Labs Inc 2,452.87 01/17/2003 2,213.95 10/29/2001 23892 0.00 620.00 Bin Reference Labs Inc 3,673.37 01/17/2003 3,16088 1060/2001 51249 0.00 1,356.00 Neoware Systems Inc 18,373 .51 02110/2003 11,33202 01/28/2002 7,04149 0.00 869.00 Hancock Fabrics Inc. 12,501 .92 02126t2003 11,30334 11/30/2001 1,198.58 000 469.00 Air Methods Corp. 2,509.07 03/04/2003 3,112.19 01/04/2002 (603.12) 0.00 783.00 Air Methods Corp. 4,11062 03/05/2003 5,195.83 01104/2002 (1,085.21) 000 704.00 Air Methods Corp. 3,674.76 03/06t2OO3 4,671.60 01/0412002 (996 .94) 000 757.00 ManneMax Inc. 6,926.33 03/10/2003 8,86833 02/OV2002 (1,942 .00) 0.00 378.00 ManneMax Inc. 3,430.24 03/11/2003 4,42831 02104/2002 (998 .07) 0.00 450.00 ManneMax Inc. 4,072.37 03/1412003 5,27180 02tO4/2002 (1,199 .43) 000 582.00 Allied Defense Group Inc. 9,891.43 03/18/2003 12,021 .79 03/0612002 (2,130 .36) 000 136 .00 Allied Defense Group Inc. 2,311.40 03/1812003 3,101-10 03/11/2002 (789 .70) 0.00 27200 Allied Defense Group Inc 4,592.82 03/19/2003 5,61843 03/06/2002 (1,025 .61) 000 57.00 Allied Defense Group Inc. 962 .47 03/19/2003 1,177.39 03/06/2002 (214 .92) 000 68.00 Allied Defense Group Inc. 1,112.15 03/25/2003 1,40461 03/0612002 (292 .46) 000 167 .00 Allied Defense Group Inc. 2,623.88 03/26t2OO3 3,44955 03/0612002 (825 .67) 0.00 297.00 Allied Defense Group Inc 4,463.26 03/27/2003 6,13483 03/06/2002 (1,671 .57) 0.00 63.00 Air Methods Corp. 372 .31 04/01/2003 418 .06 01/0412002 (4575) 000 294.00 Allied Defense Group Inc 4,732.14 04/02t2003 6,07286 0310612002 (1,340 .72) 000 28.00 Allied Defense Group Inc. 44874 04/03/2003 578 .37 03106/2002 (129 .63) 000 10400 Allied Defense Group Inc. 1,65012 04/0412003 2,148.22 03/06t2OO2 (49810) 0.00 2800 Allied Defense Group Inc. 43768 04/07/2003 57837 03/06/2002 (14069) 0.00 166 .00 Alhed Defense Group Inc 2,549.08 04/08/2003 3,428.90 03/06t2OO2 (879 .82) 0.00 725.00 Air Methods Corp 4,110.55 04/15/2003 4,45977 12112/2001 (349 .22) 000 223.00 Air Methods Corp. 1,264.35 04/15/2003 1,47978 01/04/2002 (21543) 000 923 .00 Air Methods Corp. 5,279.30 04/16/2003 5,67774 12112t2001 (39844) 0.00 18100 Fuel Tech N V 642 .51 04/30/2003 914.05 12/18/2001 (271 .54) 0.00 352.00 Fuel Tech N V 1,26344 05/01/2003 1,689.60 12/12/2001 (426 .16) 0.00 Driehaus Capital Management Friday January 23, 2004 16:56.36 Page 66 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06056501 -- RICHARD H. DRIEHAUS FOUNDA TION-MICROCAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description ProceMs Date Cost Date Gain (- Loss) Premium Discount)

61.00 Fuel Tech N V 21895 05/0112003 308.05 12/18/2001 (89 .10) 0.00 101.00 Fuel Tech N V 35968 05/0212003 48480 12/12/2001 (125 .12) 0.00 165.W Erescarch Technology Inc 5,44406 05/05/2W3 1,917.11 04130/2W2 3,52695 0 w II0.00 Fuel Tech N V 395 .01 05/05/2003 477.97 l2tIO/2001 (82 .96) 0 w 68900 Fuel Tech N V 2,47417 05/05/2003 3,071 .29 12tI 112W 1 (597 .12) 0 w 98.00 Fuel Tech N V 351 .91 05/05/2W3 470.40 12/12/2WI (118 .49) 0.00 581 .W Fuel Tech N V 1,994.99 05/07/2003 2,524.54 12/1012WI (53955) O.W 1,009.W Back Yard Burgers Inc 5,397.89 05/27/2W3 10,523 .86 0512412W2 (5,125 .97) 0 w 45.00 Perry Ellis International 826.71 05/27/2003 760.28 05/21/2002 6643 0 w 888 .W Back Yard Burgers Inc 4,587.54 05/28/2003 9,261 .83 0512412002 (4,674.29) 0 w 469 .00 Back Yard Burgers Inc 2,401.97 05/29/2003 4,891 .66 05/24/2002 (2,489.69) O.W 359 .W Eresearch Technology Inc. 6,412.84 06103/2003 2,085.59 04/30/2W2 4,327.25 0.00 1,1 18-W Perry Ellis International 21,408.69 06/0412W3 18,888 .61 05/21/2W2 2,520.08 000 947 .W Sportsman's Guide Inc. 9,421.73 0610912W3 5,066.73 02/20/2002 4,355.W O.W 517 .W Vital Images Inc 7,708.10 0611012W3 4,394.50 04/16/2W2 3,313.60 0.00 509 .00 Eresearch Technology Inc. 9,935.21 0611112W3 2,957.00 04/30(2W2 6,978.21 O.W 490.W Eresearch Technology Inc. 9,515.35 06112/2W3 2,846.62 04/30/2W2 6,668.73 0.00 2,225.--* Sportsman's Guide Inc. 22,544.85 06/13/2W3 11,90440 02120/2W2 10,640.45 O.W 403 .W Brigham Exploration Co 2,067.29 06120/2W3 1,75607 04/1812W2 311 .22 0 w 295 .W Brigham Exploration Co 1,513.28 06(20/2W3 1,38592 05/08/2002 127 .36 000 1,830.W Fuel Tech N V 9,76357 06120/2003 7,951 .65 12/10/2WI 1,811.92 O.W 1,092.W Brigham Exploration Co, 5,36604 07/0812003 4,28867 04/01/2002 1,077.37 O.W 602 .W Brigham Exploration Co 2,958.20 07/0812W3 2,413.12 04102/2W2 545 .08 O.W 584.W Brigham Exploration Co 2,869.75 07/0W2003 2,34044 0410312W2 529 .31 O.W 356 .W Brigham Exploration Co 1,749.37 07/0812003 1,406.20 04/04/2002 343 .17 0 w 260.W Brigham Exploration Co 1,277.63 07/O8f2W3 1,056.80 04/1612W2 220.83 O.W 332 .W Brigham Exploration Co 1,631 .43 07/O8/2W3 1,38165 04117/2W2 249 .78 0 w 150 .W Brigham Exploration Co 737.09 07/08/2W3 653 .63 04/18/2002 83 .46 0.00 291 .W Jos A Bank Clothiers Inc 12,180 .86 07/14/2W3 2,991 .48 03/1 V2002 9,189.38 O.W 147 .W Jos A Bank Clothiers Inc 6,153.22 07/14/2W3 1,57731 03/1212W2 4,575.91 0.00 337 .W SunOpta Inc 2,117.94 07/15/2003 1,121 97 05/0812W2 995.97 0 w 57.W Central European Distribution Corp. 1,127.82 07/1712W3 45980 04/1612002 668.02 0 w 536 W SunOpta Inc 3,622.54 07/2112003 1,784.51 05/08/2W2 1,83803 0 w 14 W SunOpta, Inc 9652 07/31/2W3 4537 05/07/2002 51.15 0 w 80800 SunOpta Inc 5,57041 07/3112003 2,69007 05/08/2W2 2,880.34 O.W 12 W SunOpta Inc 81 .96 08/01/2W3 37 .09 04/1612W2 4487 O.W 598.W SunOpta Inc 4,084.26 08/01/2003 1,937.94 05/07/2002 2,14632 O.W 25.W Central European Distribution Corp. 448.47 09/07/2W3 201 .67 04/16/2W2 24680 O.W 247.W Fuel Tech N V 1,293.13 08/07/2W3 1,032.22 10/29/2WI 26091 O.W 176 .W Jos A Bank Clothiers Inc 7,63100 08/07/2003 1,80928 03/11/2002 5,821 .72 O.W 1,294 W SunOpta Inc 9,826.55 08/07/2W3 3,999.46 04/16(2W2 5,82709 O.W 104 .00 Central European Distribution Corp 1,951.47 08/08/2W3 76063 11/2012WI 1,19084 O.W

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Driehuus Capital Management Friday January 23, 2004 16:56:36 Page 67 Gains and Loss Reportfi-om 1110112002 to 1013112003 Account: 06056501 -- RICHARD H. DRIEHAUS FOUNDA TION-MICROCAP

Sale Purchase Reallzed Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

9800 Central European Distribution Corp . 1,83888 08/08/2003 79053 04/1612002 1,048.35 0.00 176 .00 Fuel Tech N V 92219 08/08/2003 735 .51 1012912001 186 .68 0.00 41 .00 Jos A Bank Clothiers Inc 1,764.14 09/08/2003 421 .48 03/11/2002 1,34266 000 54.00 Central European Distribution Corp 1,040.53 08/13/2003 39494 11120/2001 64559 000 278.00 Central European Distnbution Corp 5,12282 08/14/2003 2,033.22 11/2012001 3,089.60 000 7800 SunOpta Inc 570.15 08/1V2003 241 .08 04/16/2002 32907 0.00 86.00 Central European Distnbution Corp 1,547.92 08/15/2003 628 .98 11/20/2001 91894 000 765.00 SunOpta Inc 5,51025 08/18/2003 2,36444 04/1612002 3,145.81 000 153 .00 Jos A Bank Clothiers Inc 6,655 18 09/08/2003 1,572.84 03/11/2002 5,082.34 0.00 177 .00 Select Comfort Corp 4,883.20 09/18/2003 1,009.33 09/16t2002 3,873.87 000 50400 Select Comfort Corp 13,804 .92 09/23/2003 2,87404 09/16/2002 10,93088 0.00 75.00 Fuel Tech N V 390 .73 10/0112003 31343 10/29/2001 77 .30 0.00 245.00 SunOpta Inc 2,413.13 10/07/2003 757 .24 0411612002 1,65589 0.00 171.00 Select Comfort Corp . 4,77452 10/15/2003 975-12 09/16/2002 3,799.40 000 178.00 Jos A Bank Clothiers Inc 7,29425 10/20/2003 1,82984 03/1112002 5,464.41 000 1,817.00 SunOpta Inc 16,555 .71 10/2212003 5,61593 04/1612002 10,93978 000 1,015.00 Fuel Tech N V 4,291 .51 10/29/2003 4,241.70 10/29/2001 4981 000 50800 Fuel Tech N V 2,192.93 10/3012003 2,122.94 10/29/2001 6999 0.00

GAINS ONLY Total 162,563 .98

LOSSES ONLY Total (35,522.02)

STOCK - Long Term 484,531 .29 357,489-33 127,041 .96

Grand Totals 15,748,942 .72 13,809,241 .12 1,939,701 .67 0

Driehaus Capital Management Friday January 23, 2004 16:56:13 Page I Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06058503 -- RICHARD H DRIEHAUS FOUNDATION - M1DRECV

Sale Purchase Realized Unamortized Bond Ouanti Security Descrintion Proceeds Date cost Date Gain (- Loss) Premium Discoun

779.00 Overture Services Inc 18,526.23 11/01/2002 20,805 .77 10/1012002 (2,279 .54) 000 387.00 Kerzner International LAd 8,235.15 11/04/2002 11,306.01 04124/2002 (3,07086) 000 509.00 Kerzner International Ltd 10,831 .24 11/04/2002 15,624.42 05/02/2002 (4,793 18) 0.00 1,796.00 Nextel Communications Inc. - A 22,766.65 11/04/2002 13,647 09 10110/2002 9,11956 0.00 358.00 Kerzner International Ud 7,799.69 11/05/2002 10,458.79 04/24/2002 (2,659 .10) 000 1,260.00 Nu Skin Enterprises Inc Cl-A 13,54521 11/05/2002 13,391 .53 08/05/2002 153 .68 000 1,876.00 Skyworks Solutions Inc 12,64178 11/05/2002 12,081 .06 10/30/2002 56072 000 220.00 Skyworks Solutions Inc 1,482.51 11/05/2002 1,531.75 10/31/2002 (49 .24) 000 902.00 Hollywood Entertainment Corp. 16,191 .31 11/0612002 18,483.78 05/01/2002 (2,292 .47) 000 415.00 Hollywood Entertainment Corp. 7,44944 11/06/2002 8,017.80 06/0412002 (568 .36) 0.00 722.00 Kerzaer International LAd 15,52246 11/0612002 21,092 .87 04124/2002 (5,57041) 000 894.00 Nu Skin Enterprises Inc Cl-A 9,684.76 11/06/2002 9,501 .61 08/05/2002 183 .15 000 60.00 Kerzner International I-Id 1,229.96 11/07/2002 1,752.87 04/2412002 (52291) 000 1,197.00 The Pep Boys-Manny Moe & Jack 14,385 .94 11/07/2002 20,01647 06/19/2002 (5,630.53) 0.00 287.00 Aetna Inc-new 11,393 .55 11/08/2002 12,16880 10131/2002 (775.25) 0.00 1,886.00 Humana Inc. 20,565 .63 11/0812002 24,385 .79 02/05/2002 (3,820.16) 0.00 958.00 Humana Inc. 10,44638 11/08/2002 12,41003 10110/2002 (1,963 .65) 000 570.00 Oxford Health Plans Inc 18,99627 11/08/2002 22,57200 02/07/2002 (3,57573) 000 359 .00 Oxford Health Plans Inc 11,964 .32 11/08/2002 13,670 .72 10/10/2002 (1,706 .40) 000 239.00 Pediatrix Medical 9,012.03 11/08/2002 9,60639 10/3112002 (594 .36) 000 659 .00 Cree Inc. 11,750.20 11/11/2002 11,528 .28 08/19/2002 221 .92 0.00 89 .00 Nextel Communications Inc - A 98647 11/11/2002 47773 08/08/2002 508 .74 0.00 719.00 Nextel Communications Inc. - A 7,96936 11/11/2002 5,463.39 10/10/2002 2,505.97 0.00 29 .00 The Pep Boys-Manny Moe & Jack 318 .97 11/14/2002 484.94 06/19/2002 (16597) 000 313 .00 AGCO Corp. 7,265.57 11/15/2002 4,924.90 12/11/2001 2,34067 000 70000 AGCO Corp. 16,248 .88 11/15/2002 14,595 .00 04/26/2002 1,653 88 000 1,041.00 AGCO Corp. 23,"9.79 11/18/2002 16,37961 12t 11/2001 7,070.18 000 285 .00 Hollywood Entertainment Corp . 4,961.70 11/18/2002 5,50620 06104/2002 (544 .50) 0.00 404.00 Hollywood Entertainment Corp 7,033.42 11/18/2002 7,65374 l01I0t2002 (620.32) 000 2300 Mandalay Resort Group 645 .13 11/18/2002 720.29 03/01/2002 (75 .16) 000 419.00 Mandalay Resort Group 11,752 .59 11/18/2002 11,769.71 07/29/2002 (17 .12) 000 299.00 Mandalay Resort Group 8,386.70 11/18/2002 9,24209 09/10/2002 (85539) 000 360.00 Quest Diagnostics Inc. 20,08379 11/19/2002 20,59873 10/09/2002 (51494) 000 180.00 Quest Diagnostics Inc. 10,041 .90 11/19/2002 11,43180 10/3112002 (1,389 .90) 000 928 .00 Cytyc Corpor-ation 8,682.94 1112112002 9,44203 09123/2002 (75909) 000 988 .00 Cytyc Corporation 9,24433 11/2112002 10,409.77 10/31/2002 (1,165 .44) 0.00 598 .00 Newell Rubbermaid Inc 17,957 .39 11121/2002 20,24230 07/0212002 (2,284.91) 000 351 .00 Steris Corp 8,589.62 11/21/2002 6,663.00 12/27/2001 1,92662 000 657 .00 Cree hic. 14,567 .01 11/2212002 11,493 .30 08/19/2002 3,073.71 000 1.00 Cree Inc. 22.17 11/2212002 13.04 10117/2002 9.13 000 643 .00 Cytyc Corporation 6,153.26 11/2212002 6,542.27 09123/2002 (389 .01) 0.00 359.00 Intuit Inc 18,940.26 11/22/2002 17,355.60 06118/2002 1,58466 0.00 Dfirhaus Capital Management Friday January 23, 2004 16:56:13 Page 2 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06058503 -- RICHARD H DRIEHAUS FOUNDATION - MIDRECV

Sale Purchase Realized Unamortized Bond Ouantit Security Descrintion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

150.00 AdvancePCS 3,50062 11/2512002 3,961.67 10130/2002 (461 .05) 000 479.00 AdvancePCS 11,178 .66 11/25/2002 13,222.99 11/07/2002 (2,04433) 000 555 .00 Cytyc Corporation 5,30646 11/25/2002 5,646.90 09/23/2002 (340.44) 0.00 53900 [DEC Pharmaceuticals Corp. 20,07321 11125/2002 22,66355 07/29/2002 (2,590.34) 0.00 419 .00 Sandisk Corp 10,495 .63 11/25/2002 9,500.82 11/18/2002 99481 000 511 .00 Steris Corp 11,77364 11/2512002 9,700.26 12/2712001 2,073.38 000 209 .00 Steris Corp 4,815.44 11/25/2002 3,845 60 02120/2002 969.84 000 251 .00 Idexx Laboratories Inc. 8,185.21 11/26/2002 7,51645 07/16/2002 66876 000 1.032.00 Ryder System Inc. 22,551 .50 II/26t2002 26,9" 80 02/01/2002 (4,393 .30) 0.00 236 .00 Steris Corp 5,212.07 11126/2002 4,342.40 02/20/2002 869.67 0.00 778-00 American Power Conversion 11,56072 12/04/2002 12,77476 11/2212002 (1,21404) 000 839 .00 Yahoo! Inc. 13,88502 12/04/2002 10,14208 10/10/2002 3,742.94 0.00 1,317.00 American Eagle Outfitters 21,378 .21 12105/2002 24,304.58 11/15/2002 (2,926 .37) 0.00 659 .00 American Eagle Outfitters 10,697 .22 12/05/2002 13,389.63 12/02/2002 (2,692 .41) 000 2,695.00 Mcdata Corporation-a 19,474 .33 12/05/2002 21,82842 11/1312002 (2,354 .09) 000 853 .00 Mcdata Corporation-a 6,163 86 12/05/2002 7,59102 11/21/2002 (1,427 16) 000 63 .00 Checkfree Corp. 1,04219 12/09/2002 82669 09/10/2002 215 .50 0.00 1,254.00 Checkfree Corp. 20,74454 12109/2002 18,859.91 10115/2002 1,884.63 000 419 .00 Electronics Boutique Rldgs 11,274 .94 12/09/2002 12,570.00 11/15/2002 (1,29506) 0.00 539.00 Interactive Corp 13,208 .87 12109t2OO2 15,108 17 11/20/2002 (1,899 .30) 0.00 359 .00 Idexx Laboratories Inc. 11,32251 12/09/2002 10,750.61 07/16(2002 571 .90 000 1,976-00 Millenium Pharmaceutic 19,294 .06 12/09/2002 22,822.80 12105/2002 (3,528 .74) 000 777.00 Nextel Communications Inc. - A 8,879.29 12/0912002 4,170.71 08/08/2002 4,708.58 0.00 359.00 RF Ncro Devices Inc 3,58630 12/09/2002 3,741.28 11/1812002 (154 .98) 0.00 1,138.00 RIF Nficro Devices Inc 11,36827 12/09/2002 12,440.16 11/21/2002 (1,071 .89) 0.00 180 .00 Radio One Inc. Cl D 2,748.52 12/1212002 3,048.98 09/0612002 (30046) 000 718.00 Radio One Inc. Cl D 10,963 .52 12/12/2002 12,679.88 09/17/2002 (1,716 .36) 0.00 599.00 Checkfree Corp. 8,741.66 12/1312002 7,860.08 09/10/2002 881 .58 0.00 1,168.00 Interactive Corp 26,524 .47 12113/2002 20,44456 10/10/2002 6,07991 0.00 538-00 Internume Inc 14,849 .00 12/1612002 12,706.65 07/31/2002 2,142.35 000 "9.00 Intermune Inc 12,392 .56 12/1612002 9,199.92 09/06/2002 3,19264 000 479.00 Intermune Inc 13,220 .57 12/16/2002 12,770.14 09/0612002 450.43 0.00 210.00 Intermune Inc 5,796.08 12/16/2002 6,904.80 10111/2002 (1,108 .72) 0.00 43.00 AdvancePCS 1,007.92 12/17/2002 1,110.56 10/29/2002 (102 .64) 000 17.00 AdvancePCS 398 .48 12/1712002 448 .99 10/30/2002 (5051) 0.00 478.00 AdvancePCS 11,204 .31 1211712002 12,56662 12/04/2002 (1,362 .31) 0.00 208 .00 Electronics Boutique HIdgs 3,682.94 12/18/2002 6,029.19 OW212002 (2,346 .25) 0.00 778.00 Hollywood Entert3inment Corp. 12,410 .98 12118/2002 11,806.15 1010112002 604.83 0.00 479.00 Hollywood Entertainment Corp . 7,641 .21 12/18/2002 8,047.20 10/0212002 (405 .99) 0.00 135.00 Hollywood Entertainment Corp . 2,153.58 12/1812002 2,557.56 10110/2002 (40398) 000 592-00 Skyworks Solutions Inc 5,233.47 1211&7002 2,936.64 1 G(l 1/2002 2,296.83 0.00 299.00 Skyworks Solutioas ine 2,6443.26 12.1!8r.)O(-"- 1,925.50 10/30/2002 717 .76 0.00

0 0 0 0 0 0 0 0 Driehaus Capital Management Friday Jaituary 23, 2004 16:56:13 Page 3 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06058503 -- RICHARD H DRIEHAUS FOUNDATION - MIDRECV

Sale Purchase Realized Unamortized Bond Ouantity Security Descripti2n Proceeds Rate cost Date Gain (- Loss) Premium Discount) 491 .00 Skyworks Solutions Inc 4,340.60 12/18/2002 4,420.72 11/1312002 (80.12) 0.00 60.00 AT&T Wireless Corp. 381 .59 12tl9/2002 42126 10/31/2002 (3967) 000 1,617.00 AT&T Wireless Corp. 10,283 .80 12t1912002 13,53429 12/02r2002 (3,25049) 000 1,018.00 Coniverse Technology Inc. 9,476.48 12/19/2002 11,638 .59 11/21/2002 (2,16211) 0.00 432 .00 Electronics Boutique HIdgs; 7,521 .84 12/19/2002 12,522 .17 08/22/2002 (5,000.33) 000 174 .00 EIectronics Boutique Hidgs 3,029.63 12/19/2002 5,03382 08/262002 (2,004.19) 000 2,992.00 Foundry Networkd Inc. 21,866 .36 12/19/2002 21,422 .72 07t26/2002 443.64 0.00 175 .00 Foundry Nctworkd Inc. 1,278.95 12/19/2002 1,295.00 07/29/2002 (1605) 000 180.00 Pediatrix Medical 7,111 .73 12/1912002 4,509.74 06127/2002 2,601.99 000 60.00 Pediatrix Medical 2,37058 12/19/2002 2,411.65 1051/2002 (41 07) 000 415.00 Skyworks Solutions Inc 3,49589 12tl9/2002 2,05862 1 Ot 1 112002 1,437.27 000 180 .00 Pediatrix Medical 6,919.82 12120/2002 4,50974 06/2712002 2,41008 000 2,994.00 RF Micro Devices Inc 21,406 .44 12/20/2002 31,201 .67 11/18/2002 (9,795.23) 0.00 599.00 Gap Inc. 8,745.13 12t23/2002 8,46303 11/14/2002 282.10 0.00 1,676.00 Sinclair Broadcast Group 20,796 .68 12r24/2002 22,770.14 09/06/2002 (1,973 .46) 0.00 838.00 Sinclair Broadcast Group 10,398 .34 12.12412002 11,00235 09/24/2002 (60401) 0.00 539.00 Amazon.Corn Inc. 10,879 .49 12126/2002 11,31092 11/13/2002 (431 .43) 000 120 .00 Sandisk Corp 2,591 .87 12t26(2002 2,016.48 09/10/2002 575.39 0.00 329.00 Sandisk Corp 7,10605 12t26/2002 7,46008 11/1812002 (354.03) 000 124 .00 Amazon.Corn Inc. 2,384.86 12127t2OO2 1,700.47 01/2412002 694.39 000 415.00 Amazon.Corn Inc. 7,981 .57 12t2712002 5,519.87 02/13/2002 2,46170 0.00 957.00 Pride International Inc. 14,292 .36 12/2712002 15,799.11 04/01/2002 (1,50675) 0.00 1,316.00 Cree Inc. 21,978 .50 125012002 17,158.27 10/17/2002 4,820.23 0.00 239.00 Nextel Communications Inc. - A 2,757.90 1250/2002 1,28288 08/08/2002 1,47502 000 717.00 Nextel Communications Inc. - A 8,273.71 12/30/2002 9,55266 12/17/2002 (1,278.95) 000 1,492.00 Dial Corp . 29,365 .40 12/3112002 29,299.75 04109/2002 65.65 0.00 1,018.00 Amdocs Lid. ADR 9,76375 12/31/2002 11,885.86 11/21/2OD2 (2,122.11) 0.00 252.00 Boston Scientific Corp. 10,78477 01/0212003 5,614.56 01/3Of2OO2 5,17021 0.00 299.OD Intuit Inc 14,001 .75 01/0312003 14,454 .95 06/18/2002 (453 .20) 0.00 299.00 Intuit Inc 14,001 .75 01103/2003 13,66430 06/2WOO2 337.45 000 717.00 Netscreen Technologies 12,36787 01/03/2003 8,378.86 08/07/2002 3,989.01 000 476-00 Netscreen Technologies 8,09175 01/0612003 5,36957 08/0612002 2,72218 0.00 241 .00 Netscreen Technologies 4,096.88 01/0612003 2,81633 08/07/2002 1,28055 000 299.00 Taro Pharmaceutical Indus ADR 11,061 .73 01/06/2003 10,019.67 09/16r2OO2 1,042.06 0.00 1,492.00 Grey Wolf 5,131 15 01/07/2003 6,377.45 12/09/2002 (1,246.30) 000 1,796.00 Grey Wolf 6,17664 01/07/2003 8,061.05 12/12/2002 (1,884.41) 000 2,695.00 Grey Wolf 9,268.40 01107/2003 12,298 .41 12t 1312002 (3,030.01) 0.00 300.00 Owens-Illinois Inc. 4,19466 01/0712003 3,982.11 09/10/2002 20255 0.00 449.00 Owens-Illinois Inc. 6,263.05 01/07/2003 6,188.79 II/06t2002 7426 000 688.00 Owens-Illinois Inc. 9,596.83 01/07f2003 10,829.12 11/29/2002 (1,232.29) 0.00 1,796.00 Skyworks Solutions Inc 15,069.24 01/07/2003 8,909.12 1 Ot 1 1/2002 6,160.12 0.00 718-00 Taro Pharmaceutical Indus. ADR 24,579.34 01/0712003 22,076.27 09108/2002 2,503.07 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:13 Page 4 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06058503 -- RICHARD H DRIEHAUS FOUNDATION - MIDRECV

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

WOO Taro Pharmaceutical Indus. ADR 2,05398 01/07/2003 2,010.64 09/16/2002 4334 0.00 181.00 Covance Inc 4,144.67 01/08/2003 3,650.52 09/25/2002 494.15 0.00 599.00 Covance Inc. 13,716.33 01/08/2003 12,80063 10/2412002 915.70 000 720.00 Sandisk Corp 15,558 .72 01/08r2003 12,098.88 09/1012002 3,459.84 000 1,569.00 Skyworks Solutions Inc 11,34289 01/08/2003 7,783.08 10/11/2002 3,559.81 0.00 181.00 American Power Conversion 2,750.66 01/09/2003 2,74859 11/1412002 2.07 000 1,257.00 American Power Conversion 19,102.67 01/09/2003 21,456 .99 01/06/2003 (2,354 .32) 0.00 657 .00 Sandisk Corp 12,767 .16 01/09/2003 11,040.23 09/10/2002 1,726.93 0.00 12.00 Centerpulse Ltd-spons Adr 202.19 01/14/2003 201 .04 06/28/2002 1 .15 000 900.00 ICN Pharmaceuticals Inc. 9,854.70 01/14/2003 10,890 .00 11/07/2002 (1,035 .30) 0.00 962.00 Ribapharm Inc 6,060.41 01/14/2003 6,348.66 12/27/2002 (288 .25) 000 1,137.00 Ribapharm Lac 7,162.88 01/14/2003 7,545.25 12/31/2002 (38237) 0.00 419.00 Agilent Technologies Inc 7,914.67 01/15/2003 8,426.09 01/0612003 (511 .42) 000 838.00 Bea Systems Inc 10,751 .21 01/15/2003 8,364.08 11/15/2002 2,387.13 000 588.00 Centerpulse Ltd-spons Adr 9,953.35 01/15/2003 9,850.76 06/28/2002 102 .59 0.00 49.00 Pediatrix Medical 1,789.03 01/15/2003 1,222.49 0612612002 56654 0.00 606.00 Pediatdx Medical 22,125 .54 01/15/2003 15,182 .78 06127/2002 6,942.76 000 1,405.00 PetsMart Inc. 22,529.89 01/15/2003 14,963 .67 01/23/2002 7,566.22 0.00 22.00 Pediatrix Medical 787.81 01/16/2003 548.87 OVW2002 238 .94 0.00 300.00 Airborne Inc. 4,405.18 01/17/2003 4,335.54 11/27/2002 69 .64 0.00 299,00 Airborne Inc. 4,390.50 01/1712003 4,676.36 12117/2002 (285 .86) 0.00 1.678.00 Bea Systems Inc 19,378.97 01/17/2003 16,748 .12 11/15/2002 2,630.85 000 1,379.00 Netscreen Technologies 24,011 .93 01/17/2003 15,555 .95 08/06r2002 8,455.98 000 2,645.00 Ameritrade Holding Corp. 14,544 .48 01/21/2003 13,323 .54 11/0612002 1,220.94 0.00 1,796.00 Thermo Electron Corp. 33,314 .79 01/21/2003 36,262 .50 12/11/2002 (2,947 .71) 0.00 419.00 Thermo Electron Corp 7,772.21 01/21/2003 8,694.25 12/26/2002 (922 .04) 0.00 665.00 USF-reightways Corporation 18,419 .94 01/2112003 22,957 .46 lOr2l/2002 (4,537 .52) 0.00 388.00 USFreightways Corporation 10,747 .27 01/21/2003 11,360.64 11/01/2002 (613 .37) 0.00 180 .00 USFreightways Corporation 4,985.85 01121/2003 5,32620 11/1412002 (340.35) 000 572.00 Airborne Inc. 7,86339 01/22/2003 8,215.86 08/22/2002 (352.47) 0.00 658.00 Airborne Inc. 9,045.64 0112212003 9,509.28 11/27/2002 (463 .64) 0.00 233.00 Ameritrade Holding Corp. 1,186.98 01/2212003 1,159.43 10128/2002 27 .55 0.00 934.00 Ameritrade Holding Corp. 4,758.11 0112212003 4,704.80 11/06/2002 5331 0.00 1,078.00 Gap Inc. 15,307.13 01/2212003 15,230.63 11/14/2002 76.50 0.00 942.00 Ameritrade Holding Corp. 4,349.72 01/23/2003 4,189.87 10/28/2002 159.85 0.00 779.00 Ameritrade Holding Corp. 3,986.95 01/24/2003 3,87637 10/28f2002 11058 0.00 90.00 AlItel Corp . 4,301 .87 01/2412003 4,783.33 01/0212003 (481 .46) 0.00 419.00 Alltel Corp . 20,027 .59 OV24/2003 23,488 .55 01106t2003 (3,460 .96) 0.00 682.00 CNF Transportation Inc. 22,018 .93 01/24/2003 22,995 .88 10122/2002 (976.95) 000 24.00 CNF Transportation Inc. 774.86 Ola4/2003 785.44 12131/2002 (10 .58) 0.00 898.00 Egl Inc 11,987 .93 01124/2003 13,452 .04 01/0612003 (1,46411) 0.00 299 .00 Applied Films Corp. 4,719.54 01/27r2003 5,734-02 1 ,,AnW ~= ~ (11,015 281) 0.00 Driehaus Capital Management Friday January 23, 2004 16:56.13 Page 5 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06058503 -- RICHARD H DRIEHAUS FOUNDATION - M1DRECV

Sale Purchase Realized Unamortized Bond Ouantity Security Descripti2n Proceeds Date cost Date Gain (- Loss) Pren-dum Discount)

539 .00 Applied Filnxs Corp . 8,507.80 01/27/2003 11,10340 12/3112002 (2,595 .60) 0.00 123 .00 Ameritrade Holding Corp. 624.88 01/27/2003 612.06 10128/2002 12.82 000 382 .00 Amentrade Holding Corp. 1,91567 01/28/2003 1,900.87 W28/2002 1480 000 1,496.00 Owcns-Mmois Inc 18,263 .51 01/29/2003 19,857 .46 09/10/2002 (1,593 .95) 000 206.00 Aetna Inc-new 8,444.16 02/0412003 8,475.29 10/2412002 (31 .13) 000 12 .00 Aetna Inc-new 49189 02/04/2003 50880 1051/2002 (16 .91) 0.00 543.00 Radio One Inc. Cl D 7,65063 02104/2003 9,197.77 09/0612002 (1,547 .14) 000 1,258.00 Agilent Technologies Inc 16,283 .31 0210612003 24,656 .80 11/2712002 (8,373 .49) 0.00 538.00 Agilent Technologies Inc 6,963.77 02106t2003 10,819 .18 01/0612003 (3,855 .41) 000 :59 .00 AMN Healthcare Services Inc 784.29 02106/2003 1,375.60 08/20/2002 (59131) 000 538.00 AMN Healthcare Services, Inc 7,151.68 02/0612003 12,293 .30 08/21/2002 (5,141 .62) 0.00 299.00 AMN Healthcare Services Inc 3,974.63 02/0612003 6,178.54 09/17/2002 (2,203 .91) 0.00 498.00 AMN Healthcare Services Inc 6,619.96 02/06/2003 8,97665 10124/2002 (2,356 .69) 0.00 101 .00 AMN Healthcare Services Inc 1,342.60 02106/2003 1,823.91 10/25/2002 (481 .31) 0.00 718.00 AMN Healthcare Services Inc 9,54444 02106/2003 12,129.60 12/31/2002 (2,585 16) 000 896.00 ICN Pharmaceuticals Inc. 8,497.76 02/10/2003 10,841 .60 11/07/2002 (2,343 .84) 0.00 2,030.00 Ribapharm. Inc 10,243 .39 02/10/2003 13,396 .86 12127/2002 (3,153 .47) 0.00 326.00 Medicis Pharmaceutical Cl A 15,32055 02/11/2003 15,587 .62 12/1012002 (267 .07) 0.00 654.00 Radio One Inc. Cl D 8,48827 02/11/2003 11,077 .98 09/0612002 (2,589 .71) 0.00 659.00 Radio One Inc. Cl D 8,553.16 0211112003 10,985 .53 10/17/2002 (2,432 .37) 0.00 957.00 SBC Communications Inc. 22,929.02 02/11/2003 30,26809 01/0612003 (7,339 .07) 000 761 .00 Celgene Corp . 16,34076 0211212003 19,081 .31 11/21/2002 (2,740 .55) 0.00 257.00 Celgene Corp. 5,43834 02/13/2003 6,444.02 11/21/2002 (1,005 .68) 0.00 32.00 Celgene Corp. 677 .15 02/13/2003 756.93 12123/2002 (79 .78) 0.00 419.00 Celgene Corp 8,866.40 02/13/2003 10,424 .05 01/16/2003 (1,557 .65) 0.00 3,890.00 Qwest Communication Intl 15,361 .33 02/19/2003 23,40597 01/0612003 (8,044 .64) 000 25600 Ad= Inc 8,319.75 02/20/2003 9,28174 01/0312003 (961 .99) 0.00 180 .00 Adtran Inc. 5,849.82 02/2Or2OO3 6,831 .00 01/09/2003 (981 .18) 0.00 508.00 AlItel Corp. 22,016.05 02/20/2003 26,999.23 01/02/2003 (4,983 .18) 0.00 748.00 Centurytel Inc 19,821 .40 02120/2003 21,947.74 01/30/2003 (2,126 .34) 0.00 1,253.00 Sicor Inc. 17,32846 02/2012003 23,325 .35 06128/2002 (5,996 .89) 0.00 109.00 Adtran Inc. 3,32657 02/21/2003 3,95199 01/03/2003 (625 .42) 0.00 1,676.00 Bea Systems Inc 17,52388 02121/2003 16,728 16 11/15/2002 79572 000 4.906-00 Nortel Networks Corp 10,35014 02/21/2003 11,824.13 01/1012003 (1,473 .99) 0.00 988-00 Tibco Software Inc 5,319.32 02/2112003 6,815.48 1211912002 (1,496 .16) 0.00 140-00 CNF Transportation Inc. 3,942.53 02(24/2003 4,36520 11/1412002 (422 .67) 000 515 .00 CNF Transportation Inc. 14,502 .89 02/2412003 16,85420 12131/2002 (2,351 .31) 0.00 2,366.00 Tibco Software Inc 12,289 .15 02/2412003 16,321 .27 12/19/2002 (4,032 .12) 000 188 .00 Autodesk Inc. 2,430.45 02/25/2003 2,565.79 0&'27/2002 (135.34) 000 958 .00 Autodesk Inc 12,38494 02125/2003 13,743 .56 11/18/2002 (1,35862) 0.00 1,575.00 EgI Inc 18,774 .06 02/25/2003 23,222.43 11/13/2002 (4,448 .37) 0.00 300.00 EgI Inc 3,576.01 02/25/2003 4,494.00 01/0612003 (917.99) 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:13 Page 6 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06058503 -- RICHARD H DRIEHAUS FOUNDATION - M1DRECV

Sale Purchase Realized Unamortized Bond Ouantity Security Descriptign Proceeds Date Cost Date Gain (- Loss) Premium Discount)

154 .00 Hearst - Argyle Television, Inc. 3,153.36 02/25/2003 3,536.96 07/31/2002 (38360) 0.00 389 .00 Hearst - Argyle Television, Inc. 7,965.31 02/25/2003 8,942.88 Il/20/2002 (977 .57) 000 1,347.00 Skywest Inc 12,019.99 02125/2003 22,611 .82 11/04/2002 (10,591 .83) 000 677.00 Skywest Inc 6,041 23 02125/2003 11,58577 11/14/2002 (5,544 .54) 0.00 1,033.00 Skywest Inc 9,21800 02/25/2003 11,232 .53 02/12/2003 (2,01453) 000 3,352.00 AT&T Wireless Corp. 18,940.91 02126/2003 23,534 .20 10/31/2002 (4,693 .29) 000 681 .00 Gap Inc. 9,048.85 02128/2003 10,796 .57 02/06/2003 (1,747 .72) 0.00 503.00 Covance Inc. 10,617 .60 03103/2003 10,14481 09125/2002 472.79 0.00 479.00 Covanoe Inc. 10,11100 03/03/2003 12,668 .02 01/24/2003 (2,557 .02) 000 680.00 Gap Inc. 8,74562 03/03/2003 10,780 .72 02/0612003 (2,035 .10) 0.00 67.00 LDT Corp 980.12 03/06/2003 1,20587 07/1812002 (225 .75) 000 981 .00 Vodafbne Group PLC - Spons. ADR 17,431 .55 03/06/2003 18,658 .62 11114/2002 (1,227 (Y7) 0.00 778.00 American Power Conversion 10,89167 03/10/2003 11,732 .24 11/1312002 (840.57) 0.00 597.00 American Power Conversion 8,357.74 03/10/2003 9,065.80 11/1412002 (708 .06) 0.00 165 .00 Nextel Communications Inc. - A 1,919.86 03/10/2003 885 67 08/08/2002 1,034.19 0.00 359.00 Neatel Communications Inc. - A 4,177.16 03/10/2003 4,871 .02 01/08/2003 (693 .86) 0.00 958.00 Nextel Communications Inc. - A 11,146.85 03/10/2003 12,441 .93 01/29/2003 (1,295 .08) 0.00 1,276.00 Vodafone Group PLC - Spons. ADR 21,443 .42 03/10/2003 22,52587 11/12/2002 (1,082.45) 000 97.00 Vodafone Group PLC - Spons. ADR 1,630.10 03/10/2003 1,844.94 11/1412002 (21494) 000 479.00 Vodafone Group PLC - Spons ADR 8,04968 03/10/2003 8,701 .90 12/31/2002 (652.22) 000 3,835.00 Dynegy Inc 7,560.29 03/11/2003 10,568 .33 01/1612003 (3,00804) 000 214.00 Claiivs Stores Inc. 4,639.74 03/1312003 4.70800 07/03/2002 (6826) 000 599.00 Claire's Stores Inc. 12,986.94 03/13/2003 15,621 .02 10/31/2002 (2,63408) 000 179.00 Chdre's Stores Inc. 3,880.91 03/13/2003 4,385.50 01/09/2003 (504.59) 0.00 1,933.00 CMS Energy Corp. 6,577.85 03/14/2003 8,821 .25 02/2412003 (2,243 .40) 0.00 1,137.00 WebMD Corp 10,378.79 03/14/2003 10,569 .44 01/06/2003 (190.65) 0.00 1,183.00 WebMD Corp 10,798.68 03/1412003 11,75654 01/07/2003 (957 .86) 000 709.00 Avocent Corporation 16,949.90 03/17/2003 20,306 .68 0212612003 (3,356.78) 0.00 330.00 Avocent Corporation 7,889.23 03/17/2003 9,538.29 03/13/2003 (1,649.06) 0.00 255 .00 WebMD Corp 2,126.25 03/1912003 1,924.61 If/07/2002 201 .64 0.00 1,497.00 WebMD Corp 12,482.35 03/19/2003 13,47300 01/0212003 (99065) 000 72.00 WebMD Corp 600.35 03/19/2003 669.30 01/0612003 (68 .95) 000 385.00 Airborne Inc. 7,276.31 03/2612003 5,529.91 08122/2002 1,74640 0.00 898.00 Antome Inc. 16,971 .77 03/2612003 10,574 .22 09/27/2002 6,397.55 000 1,933.00 AES Corporation 6,72055 03/2612003 6,744.01 02121/2003 (23 .46) 0.00 1,655.00 Calpine Corporation 5,190.35 03/2612003 7,444.01 11125/2002 (2,253 .66) 0.00 19853.00 Dynegy Inc 4,257.78 03/2612003 5,106.42 01/1612003 (848 64) 000 3,114.00 Dynegy Inc 7,155.28 03/26/2003 7,532.14 01/2912003 (376.86) 0.00 825 .00 Dynegy Inc 1,895.67 03/2612003 1,830.76 03/0612003 64.91 000 138.00 IDT Corp 2,022.43 03/26(2003 2,448.34 07/19/2002 (425 .91) 0.00 1,192.00 Reliant Resources Inc 3909490 0312612003 39388.02 12r27/2002 (293 .12) 0.00 3,906.00 Reliant Rtsources Inc 9,8881 .887 0 1-2 6/2 00 00 3 111,96707 12/3012002 (2,085 .20) 0.00n 0 9

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Sale Purchase Realized Unarnortized Bond Ouantity Securi Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

1,317.00 Reliant Resources Inc 3,419.45 03/2612003 5,93178 01/29/2003 (2,51233) 000 1,546-00 Williams Cos. Inc. 6,701.37 03/2612003 6,638.01 03/0612003 63 .36 0.00 389 .00 Affymetrix Inc 10,320.18 03/27/2003 10,29901 02/28/2003 21 .17 0.00 384 .00 Affymetrix Inc. 10,187 .53 03/27/2003 10,50240 03/07/2003 (314.87) 0.00 440.00 Checkfree Corp . 9,783.63 03/27/2003 9,06990 02120/2003 713 .73 0.00 118 .00 IDT Corp 1,707.63 03/27/2003 2,09351 07/19/2002 (385 .88) 0.00 118 .00 IDT Corp 1,699.38 03128/2003 2,07963 07/1712002 (380.25) 000 30.00 IDT Corp 432 .04 03128/2003 53225 07/19/2002 (100.21) 000 148 .00 IDT Corp 2,171.47 03/31/2003 2,60835 07/17/2002 (436.88) 000 1700 Idexx Laboratories Inc. 587 .56 03/31/2003 509.08 07/16/2002 7848 0.00 479.00 Idexx Laboratories Inc 16,555 .40 03/31/2003 15,917.17 1212W2002 638 .23 0.00 444.00 Hearst - Argyle Television, Inc 9,032.94 0410112003 10,19748 07/31/2002 (1,16464) 0.00 52.00 Hcarst - Argyle Television, Inc. 1,057.90 04/01/2003 1,10881 09/04/2002 (5091) 000 552.00 Interdigital Comm Corp 10,829 .18 04/01/2003 11,473.93 03/21/2003 (6" .75) 000 159 .00 IDT Corp 2,328.72 04101/2003 2,802.22 07/17/2002 (473 .50) 0.00 15 .00 H)T Corp 219.69 04/01/2003 25300 09/06r2002 (33 .31) 0.00 151 .00 Idexx Laboratories Inc 5,210.76 04/01/2003 4,521.85 07/1612002 688 .91 0.00 197 .00 Idexx Laboratories Inc. 6,798.15 04/01/2003 5,563.28 08/12/2002 1,234.87 000 441 .00 Yahoo! Inc. 9,976.58 04/01/2003 8,45062 01/0612003 1,52596 0.00 16-00 Centerpulse Ltd-spons Adr 33862 04/0212003 26408 06/25/2002 74.54 0.00 183 .00 Centerpulse Ltd-spons Adr 3,87292 04/02r2003 3,06580 06128/2002 807 .12 0.00 114-00 Centerpulse lAd-spons Adr 2,41264 04/02f2003 1,898.10 07/01/2002 514.54 0.00 383-00 Pharmaceutical Resources, Inc. 16,355 .51 04/02/2003 11,059 .35 12/18f2002 5,296.16 0.00 209.00 Centerpulse Ud-spons Adr 4,351.17 04/03/2003 3,44952 06/25/2002 901 .65 0.00 270-00 Intermune Inc 5,189.15 04/0312003 5,85630 01/23/2003 (667 .15) 0.00 811 .00 Affymetrix Enc. 14,64524 04/04/2003 21,47171 02/28/2003 (6,826 .47) 0.00 1,792.00 WebMD Corp 15,73803 04/04/2003 13,525 .12 11/07/2002 2,212.91 0.00 877.00 WebMD Corp 7,80493 04/07/2003 6,619.16 11107/2002 1,185.77 0.00 87-00 Medicis Pharmaceutical Cl A 4,70213 04/07/2003 3,88669 10/18/2002 815 .44 000 153-00 Medicis Pharmaceutical Cl A 8,269.26 04/07/2003 7,31566 12/10/2002 953 .60 0.00 40-00 DoubleClick Inc. 304.79 04/08/2003 323.13 03/25/2003 (18 .34) 000 1,159-00 DoubleCfick Inc. 8,831.15 04/08/2003 9,73560 03P-812003 (904 .45) 0.00 69-00 WebMD Corp 614.19 04/08/2003 52078 11/07/2002 93 .41 000 119 .00 Priority Healthcare Corp - B 2,913.29 04/08/2003 3,141 .72 03/27/2003 (228 .43) 0.00 331 .00 Priority Healthcare Corp - B 8,10336 04/08/2003 8,834.39 03/28/2003 (731 .03) 000 47-00 DoubleCfick Inc. 338.68 04/09/2003 342.05 03/13/2003 (3.37) 0.00 2,830.00 DoubleChck Inc. 20,392.86 04/09/2003 22,861 .31 03/25/2003 (2,468 .45) 0.00 930.00 Priority Healthcare Corp - B 21,591 .53 04109/2003 24,552 .93 03127/2003 (2,961 .40) 0.00 231 .00 Celgene Corp. 5,814.57 04/10/2003 5,537.07 03/0612003 277 .50 000 548.00 Celgene Corp. 13,793 .88 04/10/2003 13,16334 03/07/2003 63054 000 1,198-00 intermune Inc 20,967 .60 04110r2003 25,984 .62 01123/2003 (5,017 .02) 0.00 1,320.00 Biomarin Pharmaceutical Inc 15,076.85 04/14/2003 13,014 .54 01/16/2003 2,062.31 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:13 Page 8 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06058503 -- RICHARD H DRIEHAUS FOUNDATION - MIDRECV

Sale Purchase Realized Unamortized Bond Ouand Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

25.00 Autodesk Inc. 381 .23 04/1512003 398.25 03/2V2003 (17 .02) 0.00 695.00 Autodesk Inc. 10,598 .25 04/15/2003 11,432.75 04/02/2003 (83450) 0.00 83800 Rambus, Inc. 12,306.37 04/15/2003 13,203.28 02/20/2003 (89691) 0.00 209.00 Aetna Inc-new 9,855.38 04/16/2003 9,379.71 03/13/2003 475 .67 000 1,047.00 MEMC Electronic Materials 12,035 .22 04/16(2003 11,532.60 03/18/2003 502.62 0.00 408.00 MEMC Electronic Materials 4,689.94 04/16/2003 4,480.53 03/19/2003 209.41 0.00 14300 MEMC Electromc Materials 1,643.78 04/1612003 1,603.00 03/20/2003 40.78 0.00 113.00 MEMC Electronic Materials 1,298.93 04116(2003 1,264.61 03/2112003 34.32 000 108.00 MEMC Electronic Materials 1,241.46 04/16/2003 1,203.01 03/24/2003 38.45 0.00 70.00 MEMC Electronic Materials 80465 0411612003 771 .27 03/25/2003 33.38 000 681 .00 Mattel Inc. 14,236.52 04/17/2003 14,748 .42 06110/2002 (511 .90) 000 299.00 Mattel Inc. 6,250.69 04/17/2003 6,90690 04/08/2003 (65621) 000 1,542.00 IDT Corp 21,524.07 04/2212003 26,00799 09/0612002 (4,483 .92) 0.00 616.00 Williams Cos. Inc. 4,01360 04/2212003 2,64490 03/06/2003 1,36870 0.00 2,208.00 Williams Cos. Inc. 14,386.42 04/22/2003 10,499 .92 03/28/2003 3,886.50 000 1,053.00 Mattel Inc. 22,415 .52 04123/2003 22,804 .82 0611012002 (389 .30) 0.00 552.00 Western Digital Corp . 5,039.52 04/23/2003 5,178.59 03/28/2003 (139 .07) 000 394 .00 Covance Inc. 7,387.15 04/24/2003 7,946.43 09/25/2002 (559 .28) 000 539.00 Covance Inc. 10,105.77 04/24/2003 10,729 .23 09127/2002 (623 .46) 000 383.00 Adtran Inc. 14,909 .60 04/2512003 13,886 .35 01/03/2003 1,023.25 0.00 326 .00 Adtran Inc. 12,690 .68 04/25/2003 11,762 .08 02/10/2003 928.60 0.00 61 .00 OM Group 689.20 04/29/2003 641 .41 04/1612003 47.79 000 005 .00 OM Group 12,484 .69 04/29/2003 12,646.61 04/17/2003 (161 .92) 0.00 4.00 honeer Nanu-J Resources Co 95.97 04/29/2003 97 .51 09/2512002 (1.54) 000 437.00 Pioneer Natural Resources Co 10,484 .53 04/29/2003 11,847 .16 02f24/2003 (1,362.63) 0.00 452.00 Medicis Pharmaceutical Cl A 25,951 .26 04130/2003 20,192.92 10118/2002 5,758.34 000 1,362.00 AES Corporation 8,070.60 05/01/2003 4,751.86 02/21/2003 3,318.74 0.00 2,321 .00 AES Corporation 13,753 .21 05/01/2003 9,32050 04/02/2003 4,432.71 0.00 381 .00 Checkfiree Corp. 10,295 .92 05/01/2003 7,853.71 02/2012003 2,442.21 0.00 478.00 Checkfree Corp 12,917 .19 05/01/2003 10,956.62 04/15/2003 1,960.57 0.00 265 .00 CMS Energy Corp. 1,590.19 05/01/2003 1,408.56 04/15/2003 181 .63 0.00 963.00 CNIS Energy Corp. 5,778.68 05/01/2003 5,519.34 04/1612003 259.34 000 3,683.00 Calpine Corporation 18,789 .29 05/01/2003 16,565 .73 11/25/2002 2,223.56 0.00 2,624.00 Dynegy Inc 10,757 .55 05/01/2003 4,871.99 01/07/2003 5,885.56 0.00 3.209.00 Dynegy Inc 13,155 .86 05/01/2003 7,121.09 03/06/2003 6,034.77 000 2,760.00 Dynegy Inc 11.315 .10 05/01/2003 7,088.97 03/28/2003 4,226.13 0.00 1,818.00 Williams Cos. Inc. 12,352 .17 05/01/2003 7,091.09 0212512003 5,26108 0.00 23.00 WilliAms Cos. Inc. 156 .27 05/01/2003 98.75 03/06t2OO3 57.52 0.00 1.009.00 Autodesk Inc. 15,414 .67 0510212003 13,77063 08/27/2002 1,64404 0.00 658 .00 Autodesk Inc. 10,052 .38 05/0212003 8,768.24 11/0412002 1,284.14 0.00 527.00 Autodesk Inc. 8,051.07 05/0212003 8,395.11 03/28/2003 (344 .04) 0.00 1.34 .m- Ad,,,=cePCS 4,145.38 05/0=0003 3,460.82 !a/29!200-) 684.56 0.00

0 0 0 0 0

Driehaus Capital Management Friday January 23, 2004 16:56:13 Page 9 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06058503 -- RICHARD H DRIEHAUS FOUNDATION - M1DRECV

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

897 .00 AdvancePCS 27,749 .27 05/02/2003 23,380.31 01/13/2003 4,368.96 000 3,823.00 AES Corporation 24,31890 05/02/2003 12,811 .92 02/20/2003 11,506 .98 000 798 .00 AES Corporation 5,07624 05/02/2003 2,784.13 02/21/2003 2,29211 0.00 168.00 Aetna Inc-new 8,576.00 05/0212003 6,560.40 10tI612002 2,01560 000 255 .00 Aetna Inc-new 13,017 .14 05/02/2003 10,491 .26 lOnAI2002 2,52588 0.00 67 .00 Aetna Inc-new 3,420.19 05/02/2003 3,006.89 03/13/2003 413.30 0.00 775 .00 Applied Film Corp . 17,180.94 05/02/2003 14,864 .50 12/20/2002 2,31644 0.00 552 .00 Applied Films; Corp . 12,237 .26 05/0212003 11,757 .60 04/24/2003 47966 0.00 .,925.00 Ameritrade Holding Corp. 10,443 .31 05/02/2003 11,163 .18 05/02/2003 (719.87) 0.00 329 .00 Amazon .Com, Inc. 9,56687 05/0212003 8,547.42 03/17/2003 1,01945 000 3,732.00 Ascential Software Corp 14,392.10 05/0212003 14,462 .47 04/2212003 (7037) 0.00 1,072.00 Ascential Software Corp 4,134.06 05/02/2003 4,21021 04123/2003 (7615) 000 240.00 Ascential Software Corp 925.54 05/0212003 964.25 04/2412003 (3871) 0.00 2,278.00 Biomarin Pharmaceutical Inc 25,909 .20 05/0212003 22,459 .94 01/16/2003 3,449.26 0.00 280.00 Biomarin Pharmaceutical Inc 3,184.62 05/02/2003 2,707.77 01129/2003 476.85 0.00 241 .00 Continental Airlines - Class B 2,906.32 05/02/2003 2,390.77 05/01/2003 515 .55 0.00 1,105.00 Continental Airlines - Class B 13,325 .67 05/02/2003 13,233 .15 05/02/2003 92.52 0.00 2,538.00 Crown Castle Intl Corp. 15,734.85 05/02/2003 11,536 .05 03/05/2003 4,198.80 0.00 323 .00 Celgene Corp. 8,778.72 05/02/2003 7,640.27 12/2312002 1,138.45 0.00 478.00 Celgene Corp. 12,991 .43 05/0212003 11,457 .66 03/06/2003 1,533.77 0.00 1,051 .00 Centerpulse Ltd-spons Adr 23,33057 05/02/2003 17,346 .65 06125/2002 5,983.92 0.00 11 .00 Centerpulse Ltd-spons Adr 244.18 05/02f2003 181 .55 0612512002 62.63 0.00 209 .00 Centerpulse Lid-spons Adr 4,639.48 05/0212003 3,365.80 06/26t2002 1,273.68 0.00 898 .00 Centerpulse Ltd-spons Adr 19,934.21 05/02/2003 14,648 .98 06127/2002 5,285.23 0.00 30.00 Checkfree Corp . 836.06 05/02t2OO3 393 .66 09/10/2002 442.40 0.00 655 .00 Checkfree Corp . 18,253 .99 05/02J2003 12,870 .75 02114/2003 5,383.24 0.00 46.00 Checkfree Corp . 1,28196 05/02J2003 948.22 02/2Ot2OO3 333 .74 0.00 323 .00 Claire's Stores Inc. 8,252.26 05/0212003 7,106.00 07/03/2002 1,146.26 0.00 179 .00 Claire's Stores Inc. 4,57323 05/02/2003 3,275.70 08/08/2002 1,297.53 0.00 437.00 Comcast Corporation - Special Cl. A 12,563 .16 05/0212003 12,353 .99 02/28/2003 209 .17 0.00 44.00 Comcast Corporation - Special Cl. A 1,264.94 05/02/2003 1,236.40 03125/2003 28 .54 0.00 2,397.00 CNIS Energy Corp. 14,620 .65 05/0212003 12,558 .93 04/0112003 2,06172 0.00 1,65000 CNIS Energy Corp. 10,064.27 05/02/2003 8,77029 04/15/2003 1,29398 0.00 2,036.00 Coinverse Technology Inc. 24,899.71 05/02/2003 22,91722 11/20/2002 1,982.49 0.00 281 .00 Comverse Technology Inc. 3,436.55 05/02/2003 3,119.18 03/13/2003 317 .37 0.00 321 .00 CNF Transportation Inc. 9,693.74 05/02/2003 10,008 .78 11/1412002 (315.04) 000 100 .00 CNF Transportation Inc. 3,01986 05/0212003 3,009.00 01/29/2003 1086 000 2.98000 Calpine Corporation 14,860.82 05/02/2003 11,785 .59 11/22/2002 3,075.23 0.00 650.00 Calpine Corporation 3,24145 05102/2003 2,923.63 11/25/2002 317 .82 0.00 783.00 Cablevision Systems - Cl. A 16,680.09 05/0212003 13,573 .15 01/0212003 3,106.94 000 658.00 Cablevision Systems - Cl. A 14,017 .24 05/0212003 12,127 .53 01/0612003 1,889.71 0.00 613.00 Cablevision Systems - Cl. A 13,058.61 05/02/2003 10,626 .23 01/0212003 2,432.38 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:13 Page 10 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06058503 -- RICHARD H DRIEHAUS FOUNDATION - MIDRECV

Sale Purchase Realized Unarnortized Bond Quantity Security Description Proceed Date Cost Date Gain (- Loss) Premium Discount) 103-00 Corrections Corp of Amenca 2,130.97 05/0212003 2,047.21 04/09/2003 8376 0.00 600-00 Corrections Corp of America 12,41341 05102/2003 12,346.50 04115/2003 66.91 0.00 553-00 Corrections Corp of America 11,441 .03 05/02/2003 11,686.44 04130/2003 (245 .41) 0.00 1,576.00 DoubleClick Inc. 13,830.16 05/0212003 11,469.50 03/13/2003 2,36066 0.00 307 .00 Amdocs Ltd. ADR 5,532.12 05/02/2003 3,594.44 11/2112002 1,947.68 000 1,198.00 Amdocs Ltd. ADR 21,587 .90 05/0212003 15,070.84 01/10/2003 6,517.06 0.00 660.00 Amdocs Ltd. ADR 11,893 .17 05/02/2003 9,292.80 04/0212003 2,600-37 0.00 605 .00 DeVry Inc. 13,871 .99 05/02/2003 14,136.91 04/30/2003 (264.92) 0.00 4,783.00 Dyncgy*lac 20,938 .70 05/02/2003 8,880.61 01/07/2003 12,05809 0.00 696.00 Fresenius Medical Care - ADR 11,63922 05/02/2003 11,99883 03/31/2003 (359.61) 0.00 13 .00 Fresenius Medical Care - ADR 217.40 05/0212003 217 .72 04/04/2003 (0.32) 0.00 138 .00 Fresenius Medical Care - ADR 2,307.77 05/02/2003 2,311.22 04/04/2003 (3.45) 0.00 654.00 Coming Inc. 3,475.93 05/02/2003 3,429.89 02/14/2003 46.04 0.00 2,U72.00 Coming Inc. 11,012.44 05/02/2003 11,028 .69 03/05/2003 (16.25) 0.00 1,499.00 Coming Inc. 7,967.01 05/02/2003 9,060.41 04/15/2003 (1,093 .40) 0.00 3,220.00 Grey Wolf 12,423.53 05/0212003 13,763 .66 12/09/2002 (1,340.13) 0.00 2,456.00 Grey Wolf 9,47594 05/0212003 10,591 .41 02/21/2003 (1,11557) 0.00 854.00 Hasbro Inc. 13,603 .57 05/02/2003 12,869 .78 04115/2003 733.79 000 266-00 Hearst - Argyle Telewsion, Inc. 6,215.93 05/02/2003 5,672.00 09/0412002 543.93 0.00 221-00 Hearst - Argyle Television, Inc. 5,164.37 05/0212003 4,712.45 09/04/2002 451 .92 0.00 604.00 Interdigital Comm Corp 13,743 .37 05/02/2003 12,554 .80 03/21/2003 1,188-57 0.00 140.00 Idexx Laboratories Inc. 5,304.35 05/02/2003 3,943.98 07/23/2002 1,360-37 0.00 198 .00 Idexx Laboratories Inc. 7,501.86 05/02/2003 5,591 .52 08/12/2002 1,91034 0.00 6,722.00 Aquila Inc. 17,003 .75 05/0212003 19,723 .35 04/30/2003 (2,719 .60) 0.00 72 .00 huclone Systems 1,537.13 05/02/2003 994.08 02/19/2003 543.05 0.00 764.00 fmclone Systems 16,310 .63 05/0212003 10,549.16 02125/2003 5,76147 0.00 29 .00 Intermune Inc 691.04 05/02/2003 629.01 01/23/2003 6203 0.00 175 .00 Intermune Inc 4,170.05 05/02f2003 3,678.50 03/21/2003 491-55 000 920-00 Intermune Inc 21,922 .57 05/02/2003 20,667.80 05/01/2003 1,254.77 0.00 1,676.00 Ivax Corp. 27,283 .99 05/02/2003 23,636.13 08/22/2002 3,647.86 0.00 525.00 Ivax Corp. 8,546.60 05/02/2003 7,204.89 09/17/2002 1,341.71 0.00 226.00 Key Energy Group 2,255.82 05/02/2003 2,364.64 02/21/2003 (108 .82) 0.00 186 .00 Key Energy Group 1,856.56 05/0212003 2,059.84 02/2412003 (203 .28) 0.00 103.00 Key Energy Group 1,028.10 05/02/2003 1,00264 0211012003 25 .46 0.00 227 .00 Key Energy Group 2,265.80 05/02/2003 2,375.10 0212112003 (109.30) 0.00 702.00 Lone Star Technologies Inc 14,954.56 05/0212003 11,706 .27 0211112003 3,248.29 0.00 382-00 I-one Star Technologies Inc 8,137.67 05/02/2003 6,819.81 0212112003 1,317.86 0.00 442.00 Lone Star Technologies Inc 9,415.84 05/02/2003 8,71403 03/27/2003 701 .81 0.00 1,098.00 Mu-ant C-P 3,377.61 05/0212003 3,912.32 04129/2003 (534.71) 0.00 1,657.00 Mirant Corp 5,097.17 05/0212003 6,447.09 04130/2003 (1,349.92) 0.00 1,451.00 Millenium Pharmaceutic 17,542.34 05/02/2003 12,835 .11 03/18/2003 4,707.23 0.00 802.00 MilIcniarn Pharmaceutic 9,696.04 05/02/200.1 7,121 .76 W02/2003 2,574.28 000

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Sale Purchase Realized Unamortized Bond Ouantit Security Descripti2n Proceeds Date cost Date Gain (- Loss) Premium Discount) 4.00 Nabors Industries Ltd 156 .47 05/0212003 154 .40 02/10/2003 2.07 0.00 218.00 Nabors Industries Ltd 8,527.76 05/02/2003 8,60282 02/11/2003 (75 .06) 000 300.00 Nabors Industries IAd 11,735 .45 05/0212003 12,04065 02/2112003 (305.20) 000 5,534.00 Nortel Networks Corp 14,322 .49 05/02f2003 13,337 .70 01/10/2003 98479 000 774.00 Northwest Airlines Corp 7,99504 05/02/2003 7,971 .35 05102/2003 2369 000 563 .00 Nextel Communications Inc. - A 8,517.79 05/02/2003 3,022.02 Oa/08/2002 5,49577 000 98200 Nextel Communications Inc. - A 14,85695 05/02/2003 15,280 .51 04/29/2003 (423 .56) 000 1,211 .00 OM Group 15,391 .08 05/02/2003 12,733 .54 0411612003 2,657.54 0.00 299.00 Pride International Inc. 4,84656 05/02/2003 4,816.89 12/16/2002 29 .67 0.00 593.00 Pride International Inc. 9,612.07 05/0212003 8,479.90 02121/2003 1,13217 0.00 4,270.00 Parametric Technology Corp. 13,303 15 05/0212003 12,289 .49 04/17/2003 1,013.66 0.00 1,842.00 Parametric Technology Corp. 5,738.73 05/02/2003 5,573.76 0412212003 16497 000 614.00 Parametric Technology Corp. 1,912.91 05/02/2003 1,85668 04/23/2003 56.23 000 63.00 Pharmaceutical Resources, Inc. 2,727.37 05/0212003 1,619.79 08/0612002 1,107.58 0.00 240.00 Pharmaceutical Resources, Inc 10,389.97 05/02/2003 6,560.71 08/07/2002 3,829.26 0.00 47800 Pharmaceutical Resources, Inc. 20,693 .37 05/0212003 12,524.27 11/01/2002 8,169.10 0.00 156.00 Pharmaceutical Resources, Inc. 6,753.48 05/02/2003 4,504.59 12/18/2002 2,248.89 000 988.00 Providian Corp 7,528.20 05/02/2003 7,682.69 04/1612003 (154.49) 0.00 1,535.00 Providian Corp 11,69614 05/02/2003 12,341 .40 04/2212003 (645 .26) 000 492.00 Pioneer Natural Resources Co 11,97417 05/02/2003 11,99348 09/25/2002 (19 .31) 0.00 408 .00 Pioneer Natural Resources Co 9,929.80 05/02/2003 9,945.82 09125/2002 (16.02) 0.00 936.00 Rambus, Inc. 13,693 .03 05/02/2003 11,929.79 01130f2003 1,763.24 0.00 32.00 Rainbus, Inc. 468 .14 05/02/2003 504.18 02120/2003 (36.04) 0.00 2,014.00 Reliant Resources Inc 11,19403 05/0212003 5,724.39 12127/2002 5,459.64 0.00 209.00 Symbol Technologies Inc. 2,34069 05/02/2003 2,013.19 02/14/2003 327.50 0.00 2,183.00 Symbol Technologies Inc. 24,448 .44 05/02/2003 22,184.52 02/19/2003 2,263.92 000 302.00 Sicor Inc. 5,90666 05/02/2003 5,62191 06128/2002 284.75 0.00 234.00 Sicor Inc. 4,576.68 05/02/2003 4,01310 07/08/2002 563.58 0.00 737.00 Sicor Inc. 14,414 .59 05102r2OO3 14,231 .47 05/01/2003 183 .12 000 402.00 Sepracor Inc. 7,653.68 05/02/2003 4,595.95 0211412003 3,057.73 000 382.00 Sepracor Inc. 7,27290 05/02t2003 4,531 .47 02/1812003 2,741 .43 0.00 660.00 Sepracor Inc. 12,565 .74 05/02/2003 11,317 .94 04/15/2003 1,24780 000 1,23000 UnitedGlobal .Com Inc -CI A 4,370.71 05/02/2003 4,399.24 04/0412003 (28 .53) 0.00 3,600.00 UnitedGlobal.Com Inc -0 A 12,79231 05/02/2003 13,537 .74 04/0712003 (745 .43) 0.00 2,400.00 UnitedGlobal.Com Inc -CI A 8,528.21 05/02/2003 9,570.19 04/15/2003 (1,041 .98) 0.00 899.00 Varco International Inc. 16,45092 05/02/2003 17,444 .29 02125/2003 (993 .37) 0.00 605.00 Veritas Software Corp 13,968.79 05/02/2003 13,216 .71 04/2412003 752.08 0.00 1,511.00 Western Digital Corp. 14,217.83 05/02/2003 14,175 .45 03/28/2003 42.38 0.00 1,16000 Williarm Cos. Inc. 8,073.21 0510212003 4,317.27 02/2012003 3,755.94 0.00 1,730.00 William Cos. Inc. 12,04023 05/0212003 6,74794 02/25/2003 5,292.39 0.00 12.00 Yahoo! Inc. 299.27 05/0212003 145 .06 10110/2002 15421 0.00 898.00 Yahoo! Inc. 22,395.06 05/02/2003 15,737.45 12/12/2002 6,657.61 000 Driehaus Capital Management Friday January 23, 2004 16:56:13 Page 12 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06058503 -- RICHARD H DRIEHAUS FOUNDATION - M1DRECV

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount) 158.00 Yahoo! Inc. 3,940.33 05/02/2003 3,027.66 01/0612003 91267 000 1,131.00 AES Corporation 7,34222 05/05/2003 3,790.29 02120/2003 3,55193 000 467.00 Ameritrade Holding Corp. 2,91861 05/0512003 2,323.83 10(2812002 594.78 000 103.00 Ameritrade Holding Corp . 64372 05/05/2003 509.53 11/07/2002 13419 0.00 1,134.00 Ameritrade Holding Corp . 7,087.16 05/05/2003 6,57613 05102/2003 511 .03 0.00 622.00 Continental Airlines - Class B 7,152.66 05/05/2003 6,17036 05/01/2003 982.30 000 1,424.00 Delta Air Lines Inc. 20,689 .74 05/05/2003 21,05484 05/0212003 (365 .10) 0.00 409.00 Fresenius Medical Care - ADR 6,748.59 05/05/2003 6,949.93 04/0412003 (101 .34) 0.00 194.00 Northwest Airlines Corp 11,903 .61 05/05/2003 12,296.89 05/02/2003 (393 .28) 0.00 517.00 Amdocs Ltd. ADR 9,284.52 05/06(2003 6,036.34 11/21/2002 3,248.18 0.00 40.00 Fresenius Medical Care - ADR 659 .96 05/06(2003 669.92 04/04/2003 (9.96) 0.00 313 .00 lvax Corp. 5,064.10 05/06t2003 4,295.49 09/17/2002 768.61 0.00 118 .00 lvax Corp. 1,90915 05/06/2003 1,411.87 W21/2002 497.28 0.00 90.00 AES Corporation 525 .57 05/07/2003 301 .61 02/20/2003 223.96 0.00 42.00 Biomarin Pharmaceutical hic 456.83 05/0712003 406.17 01/29/2003 50.66 0.00 733.00 Biomarin Pharmaceutical Inc 7,972.90 05/07/2003 7,088.55 01/29/2003 894.35 0.00 60.00 Crown Castle Intl Corp . 404.98 05/07/2003 424.77 05/06/2003 (19 .79) 0.00 64.00 CMS Energy Corp. 380 .78 05/07/2003 335 .32 04/01/2003 45.46 0.00 36.00 Coniverse Technology Inc. 437.16 05/07/2003 399.61 03/13/2003 37.55 0.00 528.00 Coniverse Technology Inc. 6,411 .83 05/07/2003 5,860.96 03/13/2003 55087 0.00 78.00 Dynegy Inc 33928 05/07/2003 144.82 01/07/2003 194.46 0.00 66.00 Coming Inc. 37948 05/07/2003 346.14 02/14/2003 3334 0.00 92.00 Grey Wolf 349.87 05/07/2003 393 .25 12/09/2002 (43 .38) 0.00 56.00 Key Energy Group 561 .65 05/07/2003 545 .13 02110/2003 16.52 0.00 36.00 Miltenium, Pharmaceutic 425.13 05/0712003 318 .45 03/18/2003 10668 0.00 1,278.00 Nextel Communications hic. - A 17,91083 05/07/2003 6,859.94 08/08/2002 11,050.89 0.00 108 .00 Parametric Technology Corp. 349.56 05/0712003 310.83 04/17/2003 38.73 0.00 21 .00 Pharmaceutical Resources, Inc. 822 .48 05/07/2003 539.93 08/0612002 28255 0.00 181 .00 Pharmaceutical Resources, Inc. 7,088.98 05/07/2003 4,653.69 08/06t2002 2,435.29 0.00 38.00 Symbol Technologies Inc. 428.61 05/07/2003 366.04 02/1412003 62.57 0.00 116 .00 UnitedGlobal.Com Inc -0 A 448.30 05/07/2003 41489 04/0412003 3341 0.00 1,340.00 Biomarin Pharmaceutical Inc 14,368 .27 05/08/2003 12,958 .60 01/29/2003 1,409.67 0.00 398.00 Comcast Corporation - Special Cl. A 11,231 .03 05/0&-2003 11,183 .80 03/25/2003 47 .23 0.00 47.00 Coniverse Technology Inc. 568.67 05/08/2003 521 .71 03/13/2003 46.96 0.00 59.00 Cablevision Systems - Cl. A 1,242.02 05/08/2003 1,022.75 01/0212003 219.27 0.00 300.00 Cablevision Systems - C1. A 6,315.36 05/08/2003 6,438.00 05/07/2003 (122.64) 0.00 279.00 Idexx Laboratories Inc. 10,196 .97 05/0812003 7,859.79 07/23/2002 2,337.18 0.00 700.00 AmeriCredit Corp. 4,206.79 05/09/2003 5,083.82 05/05/2003 (877.03) 0.00 349.00 CNF Transportation Inc. 10,591 .75 05/12/2003 10,501 .41 01/29/2003 9034 000 706.00 Hasbro Inc. 11,343 .12 05/12/2003 10,639 .42 04115/2003 703 .70 0.00 943 .00 Ascential Software Corp 3,385.96 05/13/2003 3,654.37 04/22/2003 (268.41) 0.00 520.00 Cablevision Systems - Cl. A 10.868 .10 05/13/2003 9,01410 01/0212003 1 ;854 (X) 0.00

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50.00 Pharmaceutical Resources, Inc. 1,946.31 05/13/2003 1,28555 08/0612002 660.76 0.00 427 .00 Sicor Inc. 8,064.33 05/13/2003 7,32305 07/08f2OO2 741.28 0.00 3,222.00 Ascential Software Corp 11,749 .39 05/l4f2003 12,49609 0412=003 (736 .70) 0.00 1,000.00 OM Group 13,802 .34 05/14/2003 10,514.90 04/1612003 3,287.44 0.00 92.00 Pharmaceutical Resources, Inc 3,487.51 05/14/2003 2,365.41 O&W2002 1,122.10 0.00 479.00 Istar Financial Inc. 14,666 .29 05/14/2003 13,459 .90 12/31/2002 1,20639 000 16 .00 Applied Film Corp. 351 .34 05/15f2003 306.88 l2r20r2002 44 .46 0.00 294 .00 Applied Films Corp. 6,236.35 05/15/2003 4,994.34 04/14/2003 1,242.01 000 240.00 Applied Films Corp. 5,270.15 05/15/2003 4,52400 04115/2003 746.15 000 452.00 Aon Corp. 11,16387 05/15/2003 10,83607 05/07/2003 327 .80 0.00 302.00 Interdigital Comm Corp 7,75466 05/15/2003 6,277.40 03/21f2003 1,477.26 0.00 141 .00 Pharmaceutical Resources, Inc. 5,487.04 05/1512003 3,625.25 08/0612002 1,861.79 0.00 556.00 Applied Films Corp. 11,942 .31 05/16/2003 9,777.65 04/14/2003 2,16466 000 198 .00 laterdigital Comm Corp 5,114.29 05/16(2003 4,115.65 03121/2003 998 64 0.00 378 .00 Ameritrade Holding Corp . 2,658.50 05/19/2003 1,869.93 11/07/2002 78857 000 133 .00 Ameritrade Holding Corp 93540 05/19/2003 64602 11/08/2002 289.38 0.00 738 .00 Ameritrade Holding Corp . 5,19040 05/19/2003 4,983.05 05/13/2003 207.35 0.00 57 .00 Broadcorn Corp . - Cl. A 1,145.01 05/19/2003 1,098.34 05/12/2003 46.67 0.00 285 .00 Broadcom Corp . - Cl. A 5,725.03 05/1912003 6,149.42 05/162003 (424 .39) 0.00 197 .00 Checkfree Corp. 5,351.25 05/19f2003 2,595.03 09/10/2002 2,766.22 0.00 419 .00 Checkfree Corp. 11,381 .60 05/19/2003 4,954.88 09127/2002 6,426.72 0.00 139 .00 Pride International Inc. 2,522.73 05/19/2003 1,965.46 0812212002 557.27 000 62.00 Pride International Inc. 1,125.24 05/19/2003 88660 02/21/2003 23864 000 500.00 Veritas Software Corp 12,10943 05/19/2003 10,922 .90 OVW2003 1,196.53 0.00 692.00 Imclone Systems 11,962 .59 05120/2003 9,554.17 02/19/2003 2,40842 0.00 575 .00 Sepracor Inc. 10,808.17 05/20/2003 6,573.80 0211V2003 4,234.37 0.00 500.00 DeVry Inc. 11,752.29 05/23/2003 11,683.40 04/30/2003 68.89 0.00 1,409.00 Parametric Technology Corp. 4,01838 05/23/2003 4,055.24 0411712003 (36.86) 000 1,410.00 Parametric Technology Corp. 4,021 .23 05/23/2003 5,301 .83 05/16/2003 (1,280.60) 0.00 142.00 Pharmaceutical Resources, Inc. 5,503.72 05/27/2003 3,650.96 08/06/2002 1,852.76 0.00 18 .00 CNIS Energy Corp. 140.25 05/29/2003 94.31 04101/2003 45.94 000 1,137.00 CNIS Energy Corp. 8,859.42 05/29/2003 7,967.41 05/15/2003 892.01 0.00 455 .00 Oxford Health Plans Inc 16,671 .91 05/29/2003 16,864 .30 05121/2003 (192.39) 0.00 201 .00 AdvancePCS 6,60254 05/30/2003 5,191 .23 10/29/2002 1,411 .31 0.00 563 .00 CNIS Energy Corp . 4,308.55 0513012003 2,569.25 02/24/2003 1,739.30 000 282 .00 CMS Energy Corp. 2,158.10 05/30/2003 1,477.52 04101/2003 680.58 0.00 86.00 Lone Star Technologies Inc 2,051 .00 05/3012003 1,434.10 02/11/2003 616.90 000 145 .00 Nabors Industries Ud 6,476.56 05/3012003 5,597.00 02/1012003 879 .56 0.00 141 .00 Nabors Industries Ltd 6,29789 05/3012003 5,630.13 05/07/2003 66776 0.00 5.00 Yahoo! Inc. 147.74 05/30/2003 60.44 10110/2002 8730 000 239.00 Yahoo! Inc. 7,062.12 05/30/2003 6,271 .31 05/12/2003 790.81 0.00 172.00 Claires Stores Inc. 5,232.77 0610212003 4,601.00 05/0812003 631 .77 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:13 Page 14 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06058503 -- RICHARD H DRIEHAUS FOUNDATION - M1DRECV

Sale Purchase Realized Unarnortized Bond Ouantity Security Descrivtion Proceeds Date cost Date Gain (- Loss) Premium Discount)

259.00 Claire's Stores Inc. 7,879.57 06(0212003 7,069.69 05/09/2003 809.88 0.00 5,552.00 Aquila Inc. 14,61032 06tO2/2003 16,29039 04/3Ot2OO3 (1,68007) 000 369.00 NVIDIA 9,14372 06/02/2003 7,734.24 05/15/2003 1,409.48 000 171.00 Broadcorn Corp . - Cl . A 4,068.92 06/03/2003 3,843.48 05/23/2003 22544 000 321 .00 Cigna Corp. 16,381 .53 06/03/2003 17,635 .29 05/2012003 (1,253 .76) 0.00 99 .00 Cigna Corp. 5,052.25 06103/2003 5,445.00 05/21/2003 (392.75) 0.00 480.00 Coming Inc. 3,335.84 0610312003 2,517.35 02/14/2003 81849 0.00 930.00 Coming Inc. 6,463.19 06/03/2003 6,324.00 05/29/2003 139.19 0.00 254.00 Millenium Pharmaceutic 3,860.61 06/03/2003 2,246.81 03/18/2003 1,613.80 000 315.00 Western Digital Corp . 3,921 .56 06103/2003 3,195.90 05/1212003 725.66 000 22.00 Nortel Networks Corp 69 07 06tO4/2003 53 .02 01/1012003 16 05 000 3,672.00 Nortel Networks Corp 11,527 .88 M0412003 11,935 .22 05/30/2003 (407 .34) 000 169.00 Key Energy Group 1,96637 06tO5/2003 1,645.11 02/10/2003 32126 0.00 337.00 Key Energy Group 3,921 .11 06tO5/2003 3,858.65 05/21/2003 62 .46 0.00 89.00 Varco International Inc 1,84679 06t05/2003 1,726.96 02/25/2003 119.83 000 311.00 Varco International Inc. 6,453.41 06t0512003 6,035.11 05/07/2003 41830 000 364.00 AmeriCredit Corp . 3,986.92 06tO6/2003 3,543.54 0512912003 44338 0.00 350.00 Avaya Inc 2,694.87 06tO6/2OO3 2,337.61 05/30/2003 357.26 000 284.00 Continental Airlines - Class B 4,007.05 06tO6t2OO3 3,508.91 06/0212003 498.14 000 479.00 Crown Castle Ind Corp 4,028.62 06/06/2003 3,391 .08 05/06/2003 637.54 000 448.00 Coniverse Technology Inc. 6,785.36 0610612003 4,972.93 03/1312003 1,81243 000 136.00 Foundry Networkd Inc. 1,971.61 06/0612003 1,747.60 05/12t2OO3 224.01 0.00 148.00 Foundry Networkd Inc. 2,145.57 06106/2003 2,055.39 05/21/2003 90.18 0.00 575.00 Mirant Corp 1,401.28 06106/2003 2,048.80 04/29/2003 (647 .52) 000 2,299.00 Muant Corp 5,602.69 0610612003 8,315.68 05/29/2003 (2,712 .99) 0.00 230.00 Pride International Inc. 4,189.66 0610612003 3,252.20 0812212002 937.46 0.00 129.00 Quanta Services Inc. 1,038.40 06106t2OO3 683.30 05/12/2003 355.10 0.00 196.00 Quanta Services Inc. 1,577.72 06106t2OO3 1,19589 05/29/2003 381 .83 000 86.00 Sandisk Corp 3,156.48 06106t2003 2,672.30 05/21/2003 484.18 0.00 147.00 Western Digital Corp. 1,778.61 MOW2003 1,379.08 03/28/2003 399.53 0.00 311.00 Western Digital Corp. 3,76292 06tO6/2003 3,155.31 05/12/2003 607.61 000 144.00 Yahoo! Inc. 4,071.54 06/06/2003 1,740.72 IWIW2002 2,33082 000 672.00 Avaya Inc 4,980.02 06/09/2003 4,488.22 05/3Ot2OO3 491 .80 000 6.00 Quanta Services Inc. 46.61 06/09/2003 30.24 05/09/2003 1637 0.00 644.00 Quanta Services Inc. 5,002.35 06/09/2003 3,411.20 05/12/2003 1,591 15 0.00 86 .00 AdvancePCS 3,358.14 06/11/2003 3,005.70 06t05/2003 352.44 000 497.00 Intermune Inc 8,779.83 06tl2/2003 9,979.76 03/18/2003 (1,199 .93) 0.00 432.00 Intermune Inc 7,631.57 06tl2/2003 9,080.64 03/21/2003 (1,449 .07) 000 618.00 Sepracor Inc. 14,659 .57 06t12/2003 7,065.41 02/1412003 7,594.16 0.00 257.00 Broadcom Corp . - Cl. A 6,464.84 06/13/2003 4,952.16 05/1212003 1,512.68 0.00 113.00 Broadcom Corp . - Cl . A 2,842.52 06/13/2003 2,539.84 05/23/2003 302.68 0.00 972.00 r-'- Ip 'in ce C-j rom. atui W- 6,322-17 .42 f-%6 11, V2 -3 J,J77c qnn .~ZA O&AA 1200 1 0')'7'7Q 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain G Loss) Premium Discount)

1,029.00 Calpine Corporation 6,698.47 06tl3/2003 5,84472 06/05/2003 85375 0.00 62.00 Corrections Corp of America 1,452.96 06113/2003 1,37458 05/2012003 7838 000 168 .00 Corrections Corp of America 3,937.06 06/13/2003 3,792.99 05/21/2003 14407 0.00 4,551 .00 Nortel Networks Corp 13,545 .19 06/13/2003 10,968 .53 01/1=003 2,57666 000 254.00 NVIDIA 5,991.14 06tl3/2003 6,629.40 06tl2/2003 (638 .26) 000 4,002.00 Agere Systems Inc - Cl A 9,305.64 06/16/2003 8,344.96 05/0212003 96068 000 1,680.00 Agffe Systems Inc - Cl A 3,906.41 06/1612003 4,12830 05/23/2003 (221 89) 000 1,303.00 DoubleClick Inc. 11,921 .88 06117/2003 9,482.71 03/13/2003 2,43917 000 230.00 Lone Star Technologies Inc 5,219.88 06117/2003 5,796.18 06/11/2003 (57630) 000 659.00 Providian Corp 6,257-57 06117/2003 5,124.38 04/16/2003 1,133 19 0.00 776.00 Providian Corp 7,368.54 06117/2003 6,64947 05/1212003 71907 0.00 338 .00 Mfflenium Pharmaceutic 5,25903 06118/2003 2,989.85 03/1 V2003 2,26918 0.00 144.00 AdvancePCS 5,46886 06/19/2003 3,719.09 1012912002 1,749.77 000 72.00 AdvancePCS 2,73443 06119/2003 2,516.40 06105/2003 218 03 000 106.00 Aetna Inc-new 6,56840 06119/2003 4,139.30 10/16/2002 2,429.10 0.00 245.00 Celgene Corp. 7,88162 06/19/2003 5,795.25 12/23/2002 2,08637 0.00 156.00 Celgene Corp. 5,018.50 06119/2003 4,665.96 05/1412003 35254 0.00 86.00 Ivax Corp. 1,596 13 06/19/2003 1,028.99 10121/2002 56714 0.00 461.00 Ivax Corp 8,555.99 06/19/2003 8,364.38 06/04/2003 191 .61 0.00 366.00 Milleniurn Phannaccutic 5,46676 06/19/2003 3,237.53 03/18/2003 2,22923 0.00 99.00 Watson Pharmaceuticals Inc. 4,039.01 06/19/2003 4,138.20 06/13/2003 (99 .19) 0.00 364.00 ArneriCredit Corp. 3,333.90 06120/2003 2,851.58 05/13/2003 482.32 0.00 196.00 AmeriCrcdit Corp. 1,795.17 06/2012003 1,908.06 05/29/2003 (11289) 0.00 171 .00 Mcdata Corporation-a 2,171.60 06t2O/2003 2,421.36 06/05/2003 (249 .76) 0.00 454.00 Mcdata Corporation-a 5,765.52 06/20/2003 6,737.36 06117/2003 (971 94) 0.00 31 .00 NVIDIA 724.75 0612012003 607 .93 05/09/2003 116 .82 0.00 196.00 NVIDIA 4,582.26 06/2012003 4,108.16 05/15/2003 47410 0.00 100.00 Sandisk Corp 3,754.82 06120/2003 3,865.71 06t 12/2003 (11089) 0.00 686.00 Avaya Inc 4,488.21 06123/2003 3,193.80 05/02/2003 1,29441 000 238.00 Avaya Inc 1,557.14 06/23/2003 1,58958 05/30/2003 (32 .44) 000 419.00 Claire's Stores Inc. 11,496.15 06/24/2003 7,667.70 08/08/2002 3,828.45 000 29.00 Claire's Stores Inc. 79568 06124/2003 775 .75 05/08/2003 19 .93 0.00 1,421 .00 Elan Corp . PLC - Spons. ADR 9,807.27 06124/2003 7,984.69 05/22/2003 1,822.58 0.00 4,397.00 Agere Systems Inc - CI A 9,86148 06/27/2003 9,16862 0510212003 69286 0.00 704.00 UnitedGlobal .Com Inc -C1 A 3,407.21 06127/2003 2,517.94 04104/2003 88927 0.00 845.00 UnitedGlobal .Com Inc -CI A 4,089.62 06127/2003 4,334.85 0610412003 (245 .23) 0.00 254.00 Amdocs Ltd. ADR 6,066.48 0660/2003 2,965.63 11/21/2002 3,100.85 0.00 177 .00 Amdocs Lid. ADR 4,227.43 06130/2003 1,964.70 12/17/2002 2,262.73 0.00 750.00 Alcatel SA Spons ADR 6,512.99 07/01/2003 7,322.33 0610212003 (809 .34) 0.00 707.00 CMS Energy Corp 5,440.81 07/01/2003 3,226.40 02/2412003 2,214.41 000 291 .00 CMS Energy Corp. 2,239.43 07/01/2003 1,326.35 02r2612003 913.08 0.00 592.00 CMS Energy Corp. 4,555.81 07/0112003 5,201 .55 06119/2003 (645 .74) 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:13 Page 16 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06058503 -- RICHARD H DRIEHAUS FOUNDATION - M1DRECV

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

1,071.00 Dynegy Inc 4,359.05 07/01/2003 1,98853 01/07/2003 2,370.52 0.00 1,266.00 Dynegy Inc 5,152.72 07/01/2003 6,157.32 05/14/2003 (1,004.60) 0.00 844.00 Dynegy Inc 3,435 15 07/01/2003 3,799.43 06/19/2003 (36428) 0.00 625 .00 Helmench & Payne 17,77435 07/01/2003 19,83656 06111/2003 (2,06221) 0.00 360.00 Key Energy Group 3,726.25 07/01/2003 4,405.14 06111/2003 (67889) 0.00 600.00 Lone Star Technologies Inc 12,400.93 07/0112003 10,005 .36 02/11/2003 2,39557 0.00 300.00 Pride International Inc. 5,481.82 07/01/2003 5,948.76 06/11/2003 (46694) 0.00 57.00 Sicor Inc. 1,127.41 07/01/2003 977 .55 07/08/2002 149 .86 0.00 79.00 Sicor Inc. 1,562.55 07/01/2003 1,237.14 09/27/2002 325 .41 0.00 434.00 Sicor Inc. 8,58411 07/01/2003 9,044.56 06/13/2003 (46045) 0.00 795.00 Wiffinm Cos. Inc 5,98861 07/01/2003 2,958.82 02120/2003 3,029.79 0.00 1,005.00 WiUinm-- Cos. Inc. 7,570.50 07/01/2003 7,75850 05/14/2003 (188 .00) 0.00 40.00 Milleniurn Phairmaccutic 563 .16 07/03/2003 353 .83 03/18/2003 209.33 000 828.00 Millenium Pharmaccutic 11,657 .44 07/03/2003 7,101 .51 04101/2003 4,555.93 0.00 451 .00 Millenium Pharmaceutic 6,349.64 07/03/2003 6,90030 06126(2003 (550.66) 000 4,037.00 Parametric Technology Corp . 12,219 .71 07/03/2003 11,618 .89 04/17/2003 600.82 0.00 2,002.00 Parametric Technology Corp 6,059.91 07/03/2003 6,558.35 06126/2003 (498 .44) 000 573.00 Lone Star Technologies Inc 11,01300 07/07/2003 9,555.12 02/1112003 1,457.88 000 483.00 Checkfree Corp. 13,675 .50 07/0812003 13,673 .73 06112/2003 1 .77 0.00 256.00 Checkfree Corp. 7,248.30 07/08/2003 7,576.60 06125/2003 (32830) 0.00 625 .00 Community Health Systems Inc 12,250.17 07/08/2003 12,541 .50 06t24/2003 (291 .33) 000 1,102.00 Western Digital Corp. 13,708 .23 07/08/2003 10,338 .41 03/28/2003 3,36982 0.00 176.00 Watson Pharmaceuticals Inc. 7,330.05 07/08/2003 6,104.93 05/0712003 1,225.12 0.00 187 .00 Amazon .Com Inc. 7,366.92 07/09/2003 6,954.53 06118/2003 412.39 0.00 236.00 Manor Care Inc 6,395.29 07/09/2003 6,278.78 07/02/2003 116 .51 0.00 10.00 Legato Systems Inc 96 .60 07/09/2003 8864 07/03/2003 7.96 0.00 721.00 Legato Systems Inc 6,964.52 07/0912003 6,834.79 07/07/2003 129 .73 000 354 .00 Yahoo! Inc. 11,858 .30 07/09/2003 4,27926 10/10/2002 7,57904 000 436.00 AmeriCredit Corp . 3,864.21 07/10/2003 4,029.56 07/08/2003 (16535) 000 1,664.00 Grey Wolf 5,971 .03 07/10/2003 7,112.65 12/09/2002 (1,141 .62) 0.00 2,936.00 Grey Wolf 10,535 .42 07/10/2003 11,681 .27 02/0312003 (1,145 .85) 0.00 1,702.00 Mirant Corp 3,792.51 07/10/2003 6,064.45 04129/2003 (2,271 .94) 0.00 2,299.00 Mirant Corp 5,122.79 07/10f2003 8,168.51 05/15/2003 (3,045 .72) 0.00 133 .00 Sandisk Corp 6,068.50 07/10(2003 5,141.39 0611212003 927 .11 0.00 100 .00 Sandisk Corp 4,850.15 07/15/2003 3,107.33 05121/2003 1,742.82 0.00 9.00 Sandisk Corp 436.51 07/15/2003 347 .91 06112/2003 88 .60 0.00 1,032.00 Teradyne Inc. 18,360.47 07/16/2003 19,753 .92 07/07/2003 (1,393.45) 0.00 265.00 AMR CorpJDel . 2,840.66 07/17/2003 2,038.30 06104/2003 802.36 0.00 87.00 Ameritrade Holding Corp . 695 .97 07/17/2003 409.01 10/29/2002 286.96 0.00 114 .00 Ameritrade Holding Corp . 911 .96 07/1712003 539 .65 11101/2002 372 .31 0.00 597.00 Ameritrade Holding Corp . 4,775.77 07/17/2003 2,899.81 11/08/2002 1,875.96 0.00 68-00 Continental Airlines - Coss B 960.32 OW1712003 674.57 ONM2003 285 .75 0.00

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Sale Purchase Realized Unarnortized Bond Ouanti Security Descriiation Proceeds Date Cost Date Gain (- L-oss) Prendurn Discount)

256-00 Continental Airlines - Class B 3,615.31 07/17t2003 3,16296 06/02/2003 45235 0.00 1,068.00 CMS Energy Corp 7,028.49 07/17/2003 4,835.59 02/25/2003 2,192.90 0.00 350.00 CMS Energy Corp. 2,303.34 07/17/2003 1,595.27 02/26/2003 708.07 0.00 435.00 Comverse Technology Inc. 6,111 .46 07/1712003 7,064.40 07/08/2003 (952 .94) 0.00 972.00 Delta Air Unes Inc. 13,076.47 07/17f2003 14,371 .70 05/O2f2OO3 (1,29523) 000 268.00 Amdocs Ltd ADR 6,358 16 07/17/2003 2,974.80 12/17/2002 3,38336 0.00 292.00 Dynegy Inc 1,194.96 07/17/2003 1,38572 07/09/2003 (190 .76) 0.00 1.168 .00 Dynegy Inc 4,779.85 07/17/2003 5,685.12 07/15/2003 (905 .27) 000 280.00 Emulex Corp . 5,972.42 07/17/2003 7,05883 07/08/2003 (1,086 .41) 0.00 472-00 Foundry Networkd Inc. 7,504.44 07/17/2003 7,707.76 07/02/2003 (20332) 0.00 258-00 Monster Worldwide Inc 5,072.89 07/17/2003 5,304.48 07/0212003 (231 .59) 0.00 181 .00 Northwest Airlines Corp 1,787.76 07/17/2003 1,864.10 05/02/2003 (76 .34) 0.00 672 .00 Northwest Airlines Corp 6,637.43 07/17/2003 6,76677 06104/2003 (12934) 0.00 236 .00 Priceline .com Inc 5,498.68 07117/2003 6,216.24 07/14/2003 (717 .56) 0.00 1,753.00 Dynegy Inc 6,590.63 07/18/2003 8,319.07 07/09/2003 (1,728 .44) 0.00 239.00 NVIDIA 5,023.52 07/18t2OO3 5,939.10 07/07/2003 (915 .58) 000 7.00 Alcatel SA Spons ADR 60.50 07/21/2003 65.34 05/30/2003 (4.84) 0.00 671 .00 Alcatel SA Spons ADR 5,799.65 07/2112003 6,551 .04 0610212003 (751 .39) 0.00 36-00 Broadcom Corp . - Cl. A 907 .67 07/22/2003 69369 05/12/2003 21398 0.00 259.00 Broadcom, Corp. - Cl. A 6,530.17 07/22/2003 6,795.38 07/O2f2OO3 (265 .21) 0.00 589.00 Broadcom Corp - Cl. A 13,575 .22 07/23/2003 11,349 .50 05/12/2003 2,225.72 0.00 221-00 Hyperion Solutions Corp. 5,975.11 07/24/2003 7,542.73 06127/2003 (1,567 .62) 0.00 590.00 AMR CorpJDel . 5,772.87 07/2512003 4,53810 06tO4/2003 1,234.77 0.00 182 .00 Delta Air Unes Inc. 2,009.04 07/2512003 2,691 .00 05/0212003 (681 .96) 0.00 796.00 Delta Air Lanes Inc. 8,786.79 07/25/2003 11,593 .74 06/04/2003 (2,806 .95) 0.00 118-00 Nabors Industries Ltd 4,247.80 07/25/2003 5,260.44 06/1112003 (1,012 .64) 0.00 237.00 Varco International Inc. 4,120.02 07/2512003 5,182.03 06t 11/2003 (1,062 .01) 0.00 89-00 Monster Worldwide Inc 2,282.74 07/28/2003 1,61841 05/0612003 664.33 0.00 146-00 Monster Worldwide Inc 3,744.72 07/2812003 3,001 .76 07/02/2003 74296 0.00 287.00 Nabors Industries Ltd 10,087 .58 07/2812003 11,078 .20 02/1012003 (990 .62) 0.00 52.00 Nabors Industries Lid 1,827.71 07128=03 2,318.16 06111 f2OO3 (490.45) 0.00 710.00 Rowan Companies Inc. 15.239 .64 07128/2003 17,302 .77 05/21/2003 (2,063 .13) 0.00 170 .00 Rowan Companies Inc. 3,648.93 07/28/2003 4,25000 06/1112003 (601 .07) 0.00 374.00 Ameroo 3,614.20 07/28/2003 2,548.06 06/23/2003 1,066.14 0.00 245.00 Amerco, 2,367.59 07128f2003 1,74511 06(25f2003 622.48 0.00 560.00 AMR CorpJDel . 5,50453 07/29/2003 4,307.35 06104/2003 1,197.18 000 469.00 Elan Corp. PLC - Spons. ADR 1,913.99 07129/2003 2,635.34 05/2212003 (721 .35) 0.00 711 .00 Elan Corp. PLC - Spons. ADR 2,901 .59 07/29/2003 4,337.10 06/2612003 (1,435 .51) 0.00 534.00 NVIDIA 10,093 .40 0712912003 10,472 .11 05/09/2003 (378 .71) 0.00 46.00 NVIDlA 869 .47 07/29/2003 1,143.09 07/07/2003 (273 .62) 0.00 1,412-00 Northwest Airlines Corp 13,018 .87 07/29/2003 12,29202 05/01/2003 726.85 0.00 408-00 Northwest Airlines Corp 3,761 .83 07129/2003 4,108.40 06f04/2003 (346 .57) 0.00 Dfiehaus Capital Management Friday January 23, 2004 16:56:13 Page 18 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06058503 -- RICHARD H DRIEHAUS FOUNDATION - M1DRECV

Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Less) Premium Discount)

17 .00 Providian Corp 157 .55 07/29/2003 132 .19 04/1612003 25.36 0.00 1,384.00 Providian Corp 12,82644 07/29/2003 13,543 .96 07/02/2003 (717 .52) 0.00 760.00 AES Corporation 4,73077 07/30/2003 2,546.97 02120/2003 2,18380 0.00 1,153.00 AES Corporation 7,17708 07/30/2003 7,857.70 07/0212003 (68062) 0.00 1,142.00 AMR CorpJDel . 10,472.90 07/3012003 8,783.92 06f04/2003 1,68898 000 868.00 CaIpine Corporation 4,984.94 07/3012003 3,432.85 11/22/2002 1,552.09 0.00 459.00 Calpine Corporation 2,63605 07/30/2003 2,48204 05/13/2003 154 .01 0.00 733.00 Calpine Corporation 4,209.64 07/30/2003 4,071 .95 06104/2003 137 .69 0.00 656.00 1vax Corp. 11,101 .35 07/3012003 7,849.04 10/2112002 3,252.31 000 514.00 Key Energy Group 4,904.56 07/30/2003 5,003.48 02/10/2003 (9892) 0.00 9.00 Key Energy Group 85 .88 07/30/2003 110.13 06/11/2003 (2425) 0.00 530.00 Mcdata Corporation-a 5,888.02 07/3012003 7,806.90 07/02/2003 (1,918 .88) 0.00 1,593.00 Wdliarns Cos. Inc. 10,409.76 07/3012003 5,92880 02120/2003 4,480.96 0.00 2,811.00 Dynegy Inc 8,91098 07/31/2003 5,21919 01/07/2003 3,691.79 0.00 900.00 Dynegy Inc 2,853.04 07/31/2003 4,271.06 07/09/2003 (1,418.02) 0.00 352.00 Andrx Corp. 7,716.53 08/01/2003 8,227.86 06113/2003 (511 .33) 000 234.00 Andrx Corp. 5,129.74 08/01/2003 5,494.32 07/30/2003 (364.58) 0.00 319 .00 Watson Pharmaceuticals Inc. 12,384 .36 08/01/2003 11,065 .18 05/0712003 1,31918 0.00 245.00 Andrx Corp. 4,828.45 0810412003 5,726.78 06113/2003 (89833) 0.00 318 .00 Andrx Corp. 6,267.13 08/04/2003 6,534.90 07/07/2003 (267 .77) 0.00 293.00 Andrx Corp. 5,774.43 08/0412003 6,47237 07/08/2003 (697 .94) 0.00 1,838.00 AES Corporation 10,045 .94 08/0412003 6,159.64 02/20/2003 3,886.20 0.00 322.00 Continental Airlines - Class B 4,30467 08/04/2003 3,032.53 04/29/2003 1,272.14 0.00 297.00 Continental Airlines - Class B 3,970.46 08/0412003 2,946.30 05/01/2003 1,024.16 0.00 203.00 Monster Worldwide Inc 4,806.51 08/04/2003 3,691.43 05/0612003 1,115.08 0.00 119 .00 Aetna Inc-new 7,076.59 08/05/2003 8,211.00 07/30/2003 (1,134 .41) 0.00 396.00 Monster Worldwide Inc 8,594.26 08105/2003 6,892.89 05/05/2003 1,701.37 0.00 132 .00 Monster Worldwide Inc 2,864.75 08/05/2003 2,400.34 05/0612003 464.41 0.00 60.00 Aetna Inc-new 3,317.84 08/0612003 2,222.40 10/10/2002 1,09544 0.00 13 .00 Aetna Inc-new 718.87 08/06/2003 507.65 IQtI612002 211 .22 0.00 30.00 Aetna Inc-new 1,658.92 08/06/2003 2,07000 07/30/2003 (411 .08) 0.00 2,139.00 Calpine Corporation 10,309 .63 09/06/2003 8,459.52 11/22/2002 1,850.11 0.00 218.00 Foundry Networkd Inc. 3,500.45 08/0612003 3,52138 06/18/2003 (20 .93) 0.00 47.00 Foundry Networkd Inc. 75468 08/0612003 767.51 07/02/2003 (12 .83) 0.00 150.00 Ntl Inc 5,910.53 08/06f2003 5,121.44 06117/2003 789.09 0.00 144.00 Nd Inc 5,674.11 08/0612003 5,090.40 07/03/2003 583.71 0.00 1,029.00 Sprint Corporation PCS Group 5,504.88 08/0612003 6,565.02 07/2412003 (1,060.14) 0.00 5.00 Phamiaceutical Resources, Inc. 266 .49 08106/2003 237.40 06112/2003 2909 0.00 135.00 Phannaccutical Resources, Inc. 7,195.27 08/06/2003 6,478.95 06119/2003 716.32 0.00 133.00 Sandisk Corp 7,228.68 08/0612003 6,782.80 07/1612003 44588 0.00 1,292.00 UnitedGlobal .Com Inc -Cl A 7,651.50 08/06/2003 4,620.99 04/04/2003 3,030.51 0.00 731 .00 uratedGiabal .Corn Inc -Cl A 4,329.14 08/06/2003 4,112.46 GV08r2003 216.68

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount) 109.00 AmeriCredit Corp. 643.76 08/07/2003 757.55 05/02/2003 (113.79) 000 420.00 AmeriCredit Corp. 2,480.53 08/0712003 3,050.29 05/0512003 (569.76) 0.00 336.00 AmeriCredit Corp. 1,98442 08/07/2003 2,632.22 05/13/2003 (647.80) 000 290.00 AmeriCredit Corp. 1,712.74 08/07/2003 2,680.21 07/08/2003 (967.47) 000 58.00 Celgene Corp. 1,923 19 08/07/2003 1,949.38 07/14/2003 (26.19) 0.00 14900 Celgene Corp. 4,940.60 08/07/2003 5,550.25 07/28/2003 (609.65) 0.00 540-00 Foundry Networkd Inc. 8,66589 08/11/20032 8,722.67 06/18/2003 (56.78) 0.00 70.00 Foundry Networkd Inc. 1,11994 08/12/2003 899.50 05/12/2003 22044 0.00 39.00 Foundry Networkd Inc. 623.97 08/12/2003 629.97 06t 18/2003 (600) 0.00 1,269.00 Reliant Resources Inc 4,852.72 08/12/2003 3,274.13 1212612002 1,578.59 000 397.00 Reliant Resources Inc 1,518.15 08/12/2003 1,128.39 12/2712002 389.76 000 183.00 Corrections Corp of America 3,883.00 08/13/2003 3,637.27 04/09/2003 245.73 000 115.00 Corrections Corp of America 2,440.14 08/1312003 2,549.62 05/20/2003 (10948) 000 383.00 Yahoo! Inc 11,324.77 08/13/2003 4,629.82 10110/2002 6,694.95 000 599.00 Key Energy Group 5,591 .28 08/14/2003 4,65387 09/27/2002 937.41 000 677.00 Key Energy Group 6,319.36 08114/2003 6,590.19 02/1012003 (27083) 000 583-00 UnitedGlobal Com Inc -Cl A 3,340.43 09114/2003 2,085.17 04/04/2003 1,25526 000 103.00 Varco International Inc. 1,770.97 08/14/2003 1,998.62 02/25/2003 (22765) 000 552.00 Varco International Inc. 9,491 .02 08/1412003 10,101.43 03/1812003 (61041) 000 76.00 Varco International Inc. 1,306.73 08/14/2003 1,661.75 06/11/2003 (355.02) 000 1,285.00 Quanta Services Inc. 8,768.69 08/15/2003 6,213.62 05/07/2003 2,55507 0.00 553.00 Quanta Services Inc. 3,77361 08/15/2003 2,739.40 05/0&'2003 1,03421 0.00 731.00 Quanta Services Inc. 4,988.26 08/15/2003 3,694.09 05/09/2003 1,30417 0.00 900.00 Quanta Services Inc. 6,141.49 08/15/2003 6,498.00 07/01/2003 (356.51) 000 69-00 Quanta Services Inc. 470.85 08/15/2003 525 15 07107/2003 (54.30) 000 649.00 Quanta Services Inc. 4,42870 08/15/2003 5,179.47 07/08f2003 (75077) 0.00 74.00 Sandisk Corp 3,98082 08/15/2003 2,299.42 05/21/2003 1,681 .40 000 29.00 Sandisk Corp 1,56005 08/15/2003 1,478.96 07/16/2003 8109 0.00 2,374-00 Elan Corp. PLC - Spons. ADR 10,488.46 08/1 &'2003 13,339.66 05/22/2003 (2,851.20) 0.00 44.00 Quanta Services Inc. 327.22 08/18/2003 212.76 05/07/2003 11446 0.00 283.00 Corrections Corp of America 6,463.52 08/19/2003 5,624.85 04/0912003 838 67 0.00 573.00 Amdocs Ud. ADR 11,35351 08/19f-)003 6,36030 12117/2002 4,99321 0.00 382.00 Amdocs lid. ADR 7,56901 08/19/2003 8,07548 08/13/2003 (506.47) 0.00 323.00 Estee Lauder Co 11,000.05 08/19/2003 12,251.39 08/08/2003 (1,251 .34) 0.00 470.00 May Department Stores Co 12,757.17 08/19/2003 12,24468 08/08/2003 51249 000 206.00 Ntl Inc 7,992.42 08/19/2003 7,03344 06117/2003 958.98 000 409.00 Pride International Inc 6,820.86 08/19/2003 5,783.26 08/22/2002 1,037.60 000 359.00 Pride International Inc. 5,987.01 08/19/2003 4,744.80 09/27/2002 1,242.21 0.00 69.00 Pride International Inc. 1,15071 08/19/2003 1,368.21 0611112003 (21750) 000 490.00 Sicor Inc. 9,331 .81 08/19/2003 7,673.40 09/27/2002 1,658.41 0.00 584.00 UnitedGlobal .Com Inc -CI A 4,006.04 08/19/2003 2,088.74 04/04/2003 1,91730 0.00 120.00 Aetna Inc-new 6,776.30 08121/2003 4,444.80 lOtIO/2002 2,331.50 0.00 Dfiehaus Capital Management Friday January 23, 2004 16:56:13 Page 20 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06058503 -- RICHARD H DRIEHAUS FOUNDATION - MIDRECV

Sale Purchase Realized Unamortized Bond Wantity Security Description Proceeds Date cost Date Gain (- Loss Premium Discount)

824-00 Allmerica Financial Corp . 19,179 .75 08/21/2003 19,316.04 07129/2003 (136 .29) 0.00 265.00 Allmerica Financial Corp . 6,168.25 08/2112003 5,96947 08/13/2003 198.78 0.00 571.00 Corrections Corp of America 13,08225 08/21/2003 11,349.08 04/09/2003 1,733 17 000 191.00 News Corp Ltd ADR 6,268.32 08/21/2003 6,278.17 08/13/2003 (9 .85) 0.00 2,209-00 Sprint Corporation PCS Group 11,954 .36 08/21/2003 13,358.82 07/23/2003 (1,40446) 0.00 1491 .00 Sprint Corporation PCS Group 806.34 08/2112003 95062 07/24/2003 (144 .28) 0.00 1,407.W Providian Corp 13,800 .32 08/21/2003 10,940 .83 04/1612003 2,85949 000 133.00 Spectrasite Inc 8,192.41 08/21/2003 5,54610 05/14/2003 2,646.31 0.00 759.00 Mcdata Corporation-a 8,33342 OWR2003 9,996.03 05/30f2003 (1,66261) 000 255.00 Mcdata Corporation-a 2,79977 08/2512003 3,61080 06105/2003 (811 .03) 000 75 .00 Mcdata, Corporation-a 823.46 08/25/2003 1,104.75 07/02/2003 (281 .29) 000 235.00 Mcdata Corporation-a 2,37461 08/26/2003 3,09495 05/30/2003 (72034) 0.00 324.00 Mcdata Corporation-a 3,27393 08/2612003 3,933.36 07/1112003 (659 .43) 0.00 529.00 Mcdata Corporation-a 5,345.40 08126/2003 6,27923 08/1812003 (933 .83) 000 353.00 Amerco 3,851 .04 08/26/2003 2,404.99 0612312003 1,446.05 000 580.00 Avaya Inc 6,008.51 08/28/2003 5,234.50 07/25/2003 774.01 0.00 280.00 F-mulex Corp. 6,761.68 08/28/2003 7,058.83 07/08/2003 (297 .15) 000 295.00 Emulex Corp. 7,123.91 08/28/2003 7,304.20 07/1412003 (180.29) 000 883.00 VISX Incorporated 16,844 .63 08/28/2003 19,51916 07/23/2003 (2,674 .53) 000 584.00 Corning Inc. 4,749.15 08/28/2003 4,820.34 07/08/2003 (71.19) 0.00 383.00 News Corp LAd ADR 12,780 .11 08/28/2003 12,589 .21 08/13/2003 190.90 0.00 883.00 Micron Technology Inc. 12,457 .04 09/02/2003 13,177 .27 07/23/2003 (720.23) 000 354.00 Polycom Inc 5,964.61 09/=003 5,635.68 07/18/2003 328.93 000 118.00 Resmed Inc 5,074.82 09/02/2003 5,132.54 08112/2003 (57.72) 0.00 510.00 AdvancePCS; 24,87785 09/0312003 13,171 .77 10/2912002 11,706 .08 0.00 294.00 Free Markets 2,703.49 09/0412003 2,273.77 08/19/2003 42972 000 176.00 Priceline.com Inc 6,61904 09/04/2003 4,441.80 06(1612003 2,177.24 0.00 30.00 Priceline.corn Inc 1,128.25 09/04/2003 79020 07/14/2003 338.05 0.00 1,235.00 Advanced Fibre Communication 26,933 .59 09/10/2003 25,704 .43 08121/2003 1,229.16 000 149.00 Celgene Corp. 6,901 .25 09/10/2003 5,007.89 07/1412003 1,893.36 000 1.00 Foundry Networkd Inc. 23 .23 09/10/2003 18.33 0&'20/2003 4.90 0.00 353.00 Foundry Networkd Inc. 8,199.80 09/1012003 6,654.05 08121/2003 1,545.75 0.00 588.00 Free Markets 5,404.22 09/1012003 4,547.53 08/19/2003 856.69 000 293.00 Gateway 2000 Inc 1,76474 09/10/2003 1,361.30 07/29/2003 403.44 0.00 1,030.00 Gateway 2000 Inc 6,20370 09/10/2003 5,383.60 08/22/2003 820.10 000 148.00 Hyperion Solutions Corp. 4,908.93 09110f2003 5,051 24 OWW2003 (142 .31) 000 324.00 Hyperion Solutions Corp. 10,746 .57 09/10/2003 9,115.58 07/2212003 1,630.99 0.00 235.00 Hyperion Solutions Corp. 7,794.58 09/10/2003 6,951.30 Oatl3/2003 943.28 0.00 529.00 Ugato Systems Inc 6,252.48 09/10/2003 5,739.60 0812012003 512.88 0.00 88.00 NII Holdings Inc - CI B 5,377.20 09/10/2003 4,560.21 0810112003 816.99 0.00 118.00 Sepracor Inc. 3,528.03 09/10/2003 2,640.75 07/24/2003 887.28 0.00 1477 .00 Sepracor Inc. 4,395.09 09/10/2003 3,946.95 08/22/2003 44814 0.0o

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Driehaus Capital Management Friday January 23, 2004 16:56:13 Page 21 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06058503 -- RICHARD H DRIEHAUS FOUNDATION - MIDRECV

Sale Purchase Realized Unamortized Bond Ouantity Security Descriotion Proceeds Date cost Date Gain (- Loss) Premium Discount) 180 .00 Amazon.Com Inc. 8,084.75 09/11/2003 7,10044 07123/2003 984.31 0.00 875.00 Symbol Technologies Inc. 11,360.90 09/1112003 8,428.44 02/14/2003 2,93246 0.00 294.00 Amerco 4,47152 09/1112003 2,003 02 06/23/2003 2,468.50 000 206.00 Amerco 4,380.50 09/12/2003 1,403.48 06123f2OO3 2,97702 0.00 584.00 Coniverse Technology Inc. 9,343.55 09/17/2003 9,402.40 08/19f2003 (5885) 0.00 3,183.00 Homestore .com 9,721 .37 09/17/2003 11,943 .12 07/31/2003 (2,221 .75) 0.00 353 .00 Ameroo 6,671 .84 09/17/2003 2,40499 06123/2003 4,266.85 000 262.00 Homestore .com, 78746 09/18/2003 983.07 07/31/2003 (19561) 0.00 326.00 Homestore .com 979.81 09/18/2003 917.39 08/0712003 62.42 0.00 411.00 Ericsson (I-M.) Tel Co-Spons ADR 6.514 .04 09/19/2003 6,81438 09/1112003 (300 .34) 0.00 2,028.00 Homestore.com 6,131.89 09/19/2003 5,706.94 08/07/2003 424.95 0.00 104.00 Boston Scientific Corp. 6,826.94 09/23/2003 6,949.18 09/15f2OO3 (122 .24) 0.00 381.00 Ugato Systems Inc 4,49940 09/23/2003 3,377.26 07/03f2OO3 1,122.14 000 206.00 Legato Systems Inc 2,432.74 09/23/2003 2,235.08 08/20/2003 197 66 0.00 443.00 Pricelme .com Inc 13,210.47 09/23/2003 11,180-21 0611612003 2,030.26 0.00 529.00 Ameritrade Holding Corp. 6,58573 09/24/2003 2,486-95 10/29/2002 4,098.78 0.00 28.00 Circuit City Stores - Circuit 301 .55 09/24/2003 25476 06127/2003 46.79 000 707.00 Circuit City Stores - Circitit 7,614.02 09/24/2003 6,697.62 07114/2003 916.40 000 86.00 Celgene Corp . 3.738.35 09/24/2003 2,034.25 12/23/2002 1,704.10 0.00 61 .00 Celgene Corp . 2,651.62 09/24/2003 2,05021 07/1412003 601 .41 0.00 857.00 Coniverse Technology Inc. 12,494.47 09/24/2003 9,512.96 03/13/2003 2,981.51 0.00 298-00 Comverse Technology Inc. 4,344.63 09/24/2003 4,797.80 08119/2003 (453 17) 0.00 353.00 Foundry Networkd Inc. 7,942.12 09/24/2003 6,470-49 08/20/2003 1,471.63 0.00 765.00 Gateway 2000 Inc 4,51236 09/24/2003 3,554.25 07/29/2003 958 .11 0.00 411 .00 Gateway 2000 Inc 2,424.29 09/2412003 2,786.58 09/1712003 (362.29) 0.00 104-00 Concord Camera Corp 1,140.14 09/24/2003 1,095 60 0811412003 44.54 000 367.00 Concord Camera Corp. 4,02337 09/24/2003 4,410.90 09/1512003 (387.53) 0.00 1,050.00 Legato Systems Inc 12,10970 09124,r2OO3 9,307.41 07/03/2003 2,802.29 0.00 264.00 Power Integrations Inc 9,450.75 09/24/2003 7,732.08 07/29/2003 1,718.67 0.00 823 .00 RF NEcro Devices Inc 7,83458 09/2412003 6,50088 08/13/2003 1,333.70 000 89 .00 Triad Hospitals Inc 2,659.35 09/24/2003 2,637-52 07/29/2003 21 83 0.00 294.00 Triad Hospitals Inc 8,78481 09/24/2003 9,26615 08/19/2003 (48134) 0.00 30.00 Sepracor Inc. 847.16 09/25/2003 662.26 07/2212003 184 .90 0.00 176 .00 Sepracor Inc. 4,97000 09/25/2003 3,938.74 07124/2003 1,031 .26 0.00 588-00 Continental Airlines - Class B 9,966.13 09/26/2003 9,409.94 09/0212003 556.19 0.00 2,096.00 Crown Castle Intl Corp. 19,06955 09/2612003 9,527.02 03/05/2003 9,542.53 0.00 506.00 Crown Castle Intl Corp. 4,603.62 09/2612003 3,582.23 05/0612003 1,021 .39 0.00 663-00 Crown Castle Intl Corp. 6,032.02 09/26t2003 5,584.05 07/02/2003 447.97 0.00 206.00 Ivax Corp. 3,86231 09/26t2OO3 4,175.62 09/03/2003 (313 .31) 000 30-00 Kindred Healthcare hic 1,075.30 09/2612003 767.38 08/1312003 307.92 0.00 103.00 Kindred Healthcare Inc 3,691.87 09/26t2003 3,444.65 09/16t2003 247.22 000 529.00 NIPS Group Inc 4,820.92 09/2612003 5,123.63 08/21/2003 (302 .71) 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:13 Page 22 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06058503 -- RICHARD H DRIEHAUS FOUNDATION - M1DRECV

Sale Purchase Realized Unamortized Bond Ouanti Security Description Proceeds Date Cost Date Gain (- Loss Premium Discount) 59-00 NII Holdings Inc - Cl B 3,420.79 0912612003 3,674.08 09/18/2003 (253.29) 0.00 147-00 OSI Pharmaceuticals Inc. 4,68907 09/26/2003 5,09208 08/18/2003 (403.01) 0.00 88-00 Polycorn Inc 1,406.17 09/26t2003 1,285.70 06127/2003 12047 0.00 118.00 Polycom Inc 1,885.55 09/2612003 1,878.56 07/18/2003 699 0.00 382-00 Polycom Inc 6,104.07 09/26t2003 6,788.14 09/1612003 (68407) 0.00 118.00 Sandisk Corp 7,610.64 09/26t2003 3,666.65 05/21/2003 3,943.99 0.00 999-00 TLC Vision Corp 6,055.45 09/2612003 6,223.77 08112/2003 (168.32) 0.00 875-00 UnitedGlobal .Com Inc -Cl A 5,302.24 09/26/2003 3,129.54 04/04/2003 2,172.70 0.00 882-00 Circuit City Stores - Circuit 8,561 .16 09/29/2003 8,025.05 06127/2003 536.11 0.00 589-00 Agere Systems Inc - Cl A 1,772.77 09/30/2003 1,858.03 09/0212003 (8526) 0.00 1,473.00 Agere Systems Inc - Cl A 4,433.42 09/30/2003 5,18321 09/05/2003 (749.79) 000 294.00 Espeed Inc Cl A 6,511 .79 09/30/2003 6,904.41 08/2612003 (392.62) 000 29.00 Power Integrations Inc 977.54 09/30/2003 836.95 07/25/2003 140.59 000 177.00 Power Integrations Inc 5,966.39 09/30/2003 5,184.01 07/29/2003 78238 000 7.00 Beverly Enterprises Inc. 42.70 10/03/2003 41.93 08/1812003 0.77 000 1,029-00 Beverly Enterprises Inc. 6,276.59 10/03/2003 6,966.23 09/16/2003 (689.64) 000 106.00 Nd Inc 5,671 .51 10/07/2003 3,502.17 06116t2003 2,169.34 0.00 42.00 Ntl Inc 2,247.20 10t07/2003 1,434.00 06/17/2003 813.20 0.00 90.00 Rambus, Inc. 2,431.02 10tOW003 2,112.52 IM&2003 318.50 0.00 532-00 Us Airways Group Inc-cl A 4,202.60 10(0812003 4,527.32 10/06/2003 (324.72) 0.00 621.00 IDEC Pharmaceuticals Corp. 20,634.86 l0t09/2003 21,645 14 10/03/2003 (1,010.28) 0.00 175-00 Kindred Healthcare Inc 6,770.92 10109/2003 4,476.40 08/13/2003 2,294.52 0.00 145-00 Millicom Intl Cellular S.a. 7,640.71 10f09/2003 5,605.73 08f27/2003 2,034.98 0.00 296-00 Us Airways Group Inc-cl A 2,373.80 lQf09/2003 2,518.96 10/06/2003 (145.16) 0.00 29-00 Coming Inc. 313.90 lOtl5/2003 239.37 07/08/2003 74.53 0.00 823.00 Coming Inc. 8,908.22 10(1512003 7,201 .25 09/03/2003 1,706.97 000 307-00 Rowan Companies Inc. 7,470.74 10/1512003 7,255.76 08/18/2003 214.98 0.00 264-00 Rowan Companies Inc. 6,424.35 10/15/2003 6,635.72 09/3012003 (211.37) 0.00 500.00 Triad HospitaJs Inc 14,458.37 10t1612003 14,817 .50 07/29/2003 (359.13) 0.00 906-00 Continental Airlines - Class B 17,282.40 10t17/2003 8,532.53 04/29/2003 8,749.87 0.00 591 .00 Continental Airlines - Class B 11,273.62 IW17/2003 11,136 .57 10103/2003 137.05 0.00 173.00 Celgene Corp. 7,260.63 10(17/2003 7,728.83 lGtO2/2003 (468.20) 0.00 412-00 OSI Pharmaceuticals Inc. 10,943.33 10/17/2003 14,271 .68 08/18/2003 (3,428.35) 0.00 206-00 OSI Pharmaceuticals Inc. 5,421.66 10(17/2003 6,999.88 10/01/2003 (1,578.22) 0.00 50.00 Sepracor Inc. 1,348.79 1 Ot 17/2003 1,103.77 07/22/2003 245.02 0.00 207.00 Sepracor Inc. 5,583.99 10(17/2003 6,071.52 10/02/2003 (487.53) 0.00 801.00 Circuit City Stores - Circuit 7,560.92 10/21/2003 8,090.10 10(07/2003 (529.18) 0.00 71.00 Ameritrade Holding Corp. 941 .42 10/22/2003 333.79 1012912002 607.63 0.00 562.00 Ameritrade Holding Corp 7,451 .76 10/22/2003 7,468.98 10/06r2003 (17.22) 0.00 5,620.00 Anba Inc 16,997.21 10/23/2003 20,637 .02 lQtl7/2003 (3,639.81) 0.00 377.00 Ariba Inc 1,140.20 10/23/2003 1,369.04 10/20/2003 (228.94) 0.00 412-00 Power integrations inc 14,172.9 i MZM2003 11,890.44 07125/2003 2,282.47 0.00

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Driehaus Capital Management Friday January 23, 2004 16:56:13 Page 23 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06058503 -- RICHARD H DRIEHAUS FOUNDATION - M1DRECV

Sale Purchase Realized Unamortized Bond quantity Security Description Proceeds Date cost Date Gain (- Loss) Prernium Discount)

1,017.00 Gateway 2000 Inc 4,872.11 10124/2003 4,461 .59 07/28/2003 41052 0.00 414.00 Gateway 2000 Inc 1,983.34 10124/2003 1,92348 07/29/2003 59 .86 0.00 2,002-00 Agere Systems Inc - CI A 6,647.17 10(28/2003 7,048.75 10(09/2003 (401 .58) 0.00 1,618.00 Free Markets 10,911 .76 10/28/2003 12,51345 08/19/2003 (1,601 .69) 000 57 .00 MPS Group Inc 562.20 10/28/2003 55207 08/21/2003 1013 0.00 629-00 MPS Group Inc 6,203.97 10/2812003 6,732.69 10(16/2003 (528 .72) 0.00 3,235.00 Lionbridge Technologies Inc. 28,741 .93 1 W29/2003 23,623 .59 08/19/2003 5,11834 0.00 176-00 Resmed Inc 7,119.43 10/29/2003 7,65531 08/12/2003 (535 .88) 0.00 353 .00 Resmed Inc 14,279 .31 10/29/2003 15,394 .61 09/1612003 (1,115 .30) 0.00 147 .00 Resmed Inc 5,946.34 10129/2003 6,478.67 09/3012003 (532.33) 0.00 171.00 Aetna Inc-new 9,814.93 10/30/2003 10,41816 09/30/2003 (603 .23) 0.00

GAINS ONLY Total 815,514.31

LOSSES ONLY Total (470,321 .22)

STOCK - Short Term 7,263,538.40 6,918,345 .36 345pl93.09

156.00 The Pep Boys-Manny Moe & Jack 1,715.82 11/1412002 1,88379 07/12/2001 (167 .97) 0.00 1,754.00 ne Pep Boys-Manny Moe & Jack 19,29201 11/14/2002 20,271 .86 07/1712001 (979.85) 0.00 823 .00 Steris Corp 20,140 .34 11/21/2002 16,552 .01 07/2412001 3,58833 000 17 .00 Boston Scientific Corp. 727.54 01/0212003 347 .04 09/25/2001 380.50 0.00 554.00 IDT Corp 8,114.58 03/05/2003 11,146 .48 01/09/2002 (3,031 .90) 0.00 76.00 H)T Corp 1,111 .78 03/06t2OO3 1,529 12 01/09/2002 (417.34) 0.00 77.00 IDT Corp 1,126.41 03/0612003 1,37342 03/05/2002 (247 .01) 0.00 259.00 IDT Corp 3,753.18 03/07/2003 4,61968 03/05/2002 (86650) 0.00 157 .00 EDT Corp 2,23432 03110/2003 2,800.35 03/05/2002 (56603) 0.00 74.00 II)T Corp 1,052.25 03/11/2003 1,319.91 03/05/2002 (267 .66) 0.00 231 .00 D:)T Corp 3,422.11 03/25/2003 4,120.25 03/0512002 (698 .14) 0.00 275.00 Boston Scientific Corp. 11,955.56 03/2612003 5,61388 09/25/2001 6,341.68 0.00 92.00 EDT Corp 1.348.29 03/26/2003 1,640-97 03/05/2002 (29268) 0.00 275.00 Boston Scientific Corp . 11,298.99 03/31/2003 5,61388 09/25/2001 5,685.11 0.00 417.00 Amazon.Com Inc. 12,125.79 05/02/2003 5,546.48 02/13/2002 6,579.31 0.00 591 .00 Boston Scientific Corp . 26,68239 05/0212003 12,064 .73 09/25/2001 14,617 .66 0.00 2,417.00 Key Energy Group 24,125 .35 05/02/2003 28,64967 OV2912002 (4,524.32) 000 551 .00 Pride International Inc 8,931.29 05/02/2003 9,096.46 04/0112002 (165 .17) 0.00 552.00 Istar Financial Inc. 16,658 .57 05/02/2003 16,449 .60 04/05/2002 208 .97 000 509.00 [star Financial Inc. 15,360.90 05/02/2003 15,654 .96 04130/2002 (294.06) 0.00 287.00 Istar Financial Inc. 8,695.69 05/12/2003 8,552.60 04105/2002 143 .09 0.00 115.00 Istar Financial Inc. 3,521 .13 05/14/2003 3,427.00 04105/2002 94 .13 000 230.00 Amazon Corn Inc. 7,286.05 05/19/2003 3,059.21 02/13/2002 4,226.84 0.00 Driehaus Capital Management Friday January 23, 2004 16:56:13 Page 24 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06058503 -- RICHARD H DRIEHAUS FOUNDATION - M1DRECV

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium (- Discount) 106.00 Boston Scientific Corp . 6,721.14 06118/2003 2,163 89 09/25/2001 4,557.25 000 72.00 Boston Scientific Corp . 4,46247 06119/2003 1,46982 09/25/2001 2,992.65 0.00 19.00 Amawn.Com Inc. 748.51 07/09/2003 25272 02/13/2002 49579 000 149.00 Boston Scientific Corp 8,891 20 08/29/2003 3,041.70 09/25/2001 5,94950 000 381 .00 Amazon .Com Inc. 22,11601 10/21/2003 5,06764 02/13/2002 17,048 .37 0.00

GAINS ONLY Total 72,809.18

LOSSES ONLY Total (12,518.63)

STOCK - Long Term 253,619.67 193,329 .12 60,290 .55

Grand Totals 7,517,158.07 7,111,674.48 405,483 .64

0 0 0 0 0 0

Driehaus Capital Management Friday January 23, 2004 17:00:56 Page I Gains and Loss Reportfrom 1110112002 to 1013112003 Account. RHDFCREX -- RHDF - INVESTMENT IN CREEX

Sale Purchase Realized Un2mortized Bond Ouantity Security Description Proceed Date Cost Date Gain (- Loss) Premium (- Discount

126.68 American Growth FD Amer-A 2,71604 08/12/2003 2,37400 12/17/2002 342.04 000 37321 Royce Low-priced Stock-Inv 4,40020 08/12/2003 3,653.77 12/09/2002 74643 000

GAINS ONLY Total 1,088.47

LOSSES ONLY Total 0.00

STOCK - Short Term 7,116.24 6,027.77 1,088.47

124,947 .94 American Growth FD Amer-A 2,678,883 .80 08/12/2003 3,000,000 .01 01/03/2002 (321,116.21) 000 91,240 .88 Royce Low-priced Stock-Inv 1,075,729 .93 08/12/2003 1,000,000 00 06101/2001 75,72993 000 91,074 .68 Royce Low-pnced Stock-Inv 1,073,770 49 08/12/2003 1,000,000 00 07/06/2001 73,77049 000 4866 Royce Low-priced Stock-Inv 573 .71 09/12/2003 546.95 12/07/2001 26.76 000 '24.40 Royce Low-priced Stock-Inv 3,824.73 08/1212003 3,64631 12107/2001 17842 000

GAINS ONLY Total 149,705 .60

LOSSES ONLY Total (321,116 .21)

STOCK - Long Term 4,832,782.66 5,004,193.27 (171,410 .61) Long Term Capital Gain Distribution + 3,633 .77 (167,756 .84)

Grand Total (166,668 .37) Dfiehaus Capital Management Friday January 23, 2004 16:54:16 Page I Gains and Loss Reportfrom 1110112002 to 1013112003 Aeeount. 06057070 -- RHD FOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond Qantily Security Descrintion Proceeds Date cost Date Gain (- Loss) Premium Discount)

29 .00 Advanced Neuromodulation Sys 929.73 11/01/2002 988.41 08/15/2002 (5868) 000 155.00 Advanced Neuromodulation Sys. 4,969.27 11/01/2002 5,355.90 08/21/2002 (386 .63) 000 42 .00 Advanced Neuromodulation Sys 1,346.51 11/01/2002 1,492.95 08/23/2002 (14644) 0.00 69 .00 Gamestop Corp 1,19639 11/0112002 1,612.98 05/30/2002 (41659) 000 85.00 Gamestop Corp 1,473.82 11/0112002 1,995.47 06103/2002 (521 .65) 0.00 99.00 Gamestop Corp 1,77411 11/04/2002 2,314.27 05/30/2002 (540.16) 0.00 102.00 Career Education Corp 4,05302 11/05/2002 3,742.51 02/11/2002 310.51 000 103.00 Career Education Corp. 4,092.75 11/0512002 3,799-66 02/25/2002 293.09 0.00 26.00 CSK Auto Corp 32858 11/0612002 443.95 05/20/2002 (115 .37) 000 128.00 CSK Auto Corp 1,617.61 11/06/2002 2,087.87 05/23/2002 (470.26) 0.00 130.00 CSK Auto Corp 1,642.89 11/0612002 2,143.47 05/2412002 (500.58) 000 128.00 CSK Auto Corp 1,617.61 11/0612002 2,103.60 05/29/2002 (485 .99) 000 103.00 Career Education Corp 4,170.98 11/0612002 3,703.94 02104/2002 467.04 000 103.00 Career Education Corp . 4,170.98 11/0612002 3,775.11 02/07/2002 39587 000 1.00 Career Education Corp. 40.49 11/0612002 3669 02/1112002 3.80 000 39 .00 Petco Animal Supplies 924.53 11/06/2002 831.69 07/2312002 92 .84 000 115.00 Petco Animal Supplies 2,72618 11/06/2002 2,475.95 07/25/2002 250.23 0.00 59 .00 Petco Animal Supplies 1,398.65 11/06t2002 1,291.33 09/18/2002 107.32 0.00 101.00 Advanced Neuromodulation Sys. 3,31892 11/07/2002 3,442.38 08/15/2002 (12346) 0.00 41 .00 Anteon International Corp 988.33 11/07/2002 1,167.59 10115/2002 (17926) 000 12.00 CSK Auto Corp 14679 11/07/2002 195.74 05/23/2002 (48.95) 0.00 4.00 Cognizant Tech . Solutions Corp. 287.05 11/07/2002 236.52 07/29/2002 50 .53 0.00 66 .00 Cognizant Tech . Solutions Corp . 4,73629 11/07/2002 3,939-15 07/30/2002 797.14 0.00 17.00 Cognizant Tech . Solutions Corp. 1,219.95 11/0712002 1,074.19 09/09/2002 145.76 0.00 5.00 Gamestop Corp 9267 11/07/2002 116.88 05/30t2OO2 (24.21) 000 26 .00 Gamestop Corp 481 87 11/0712002 605.78 06104/2002 (123 .91) 0.00 45.00 Hurricane Hydrocarbons-Cl . A 466.03 11/07/2002 581.48 04/04/2002 (115 .45) 0.00 184.00 Hollywood Entertainment Corp. 3,117.50 11/07/2002 3,578.62 IW17/20M (461 .12) 0.00 92.00 Hollywood Entertainment Corp. 1,558.75 11/07/2002 1,849.41 10/18/2002 (290.66) 000 21 .00 Mid Atlantic Medical Services 767.68 11/07/2002 78486 0610612002 (17.18) 0.00 141.00 Mid Atlantic Medical Services 5,154641 11/07/2002 5,553.85 06ti 1/2002 (399 .44) 000 85.00 &Ed Atlantic Medical Services 3,107.27 11/07/2002 3,309 15 06112/2002 (201 .88) 000 121.00 Mid Atlantic Medical Services 4,423.29 11/07/2002 4,680.32 06/17/2002 (257 .03) 000 98.00 Mid Atlantic Medical Services 3,582.50 11/07/2002 3,945.48 10111/2002 (362 .98) 0.00 60.00 Petco Animal Supplies 1,384.73 11/07/2002 1,279.52 07/23/2002 10521 0.00 16.00 Petco Animal Supplies 369.26 11107/2002 294.47 08/09/2002 74.79 0.00 13700 Petco Anima Supplies 3,161.81 11/07/2002 2,576.96 08/12/2002 584.85 0.00 31 .00 Sra international Inc-cl A 79693 11/07/2002 921 .47 09/27/2002 (124 .54) 0.00 24.00 Advanced Neuromodulation Sys. 760.34 11/08/2002 784.47 08/09/2002 (24 13) 000 32 .00 Advanced Neuromodulation Sys. 1,013.79 11/08/2002 1,090.66 08/15/2002 (76.87) 000 98 .00 Advanced Neuromodulation Sys. 3,104.72 11/08/2002 3,239.88 08128/2002 (135 .16) 0.00 A.00 69.00 Anteon International Con) 1;641 .14 11/08/200-2 1,932.17 1 a/0-1/2002- '.,91 .03) V

0 0 0 0 0 0 0 0 0 0 0 9 0

Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 2 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Descrintion Proceeds Date cost Date Gain (- Loss) Premium Discount)

44.00 Anteon International Corp 1,046.52 11/08/2002 1,25302 10115/2002 (206 .50) 0.00 31 .00 CSK Auto Corp 369.23 11/08/2002 505.66 05/23/2002 (13643) 0.00 67.00 Expedia Inc -CL A 4,84506 11/08/2002 4,23651 10/24/2002 60855 000 86 .00 Gamestop Corp 1,53385 11/08/2002 2,003.72 06/04/2002 (469 .87) 000 87 .00 Hurricane Hydrocarbons-0 . A 866.97 11/08/2002 1,124.19 04/0412002 (257 .22) 000 46.00 Mid Atlantic Medical Services 1,527.15 11/08/2002 1,719.22 06/0612002 (19207) 000 15 .00 Sra International Inc-cl A 369.43 11/08/2002 "5.87 09/27/2002 (76 .44) 0.00 15 .00 Sra International Inc-cl A 369.43 11/08/2002 442.95 09/30/2002 (73 .52) 000 28.00 CSK Auto Corp 325.14 11/11/2002 449.30 05/28/2002 (124 .16) 0.00 82 .00 CSK Auto Corp 95219 11/11/2002 1,165.03 07/0912002 (21294) 000 67.00 Gamestop Corp 1,160.72 11/11/2002 1,56022 05/24/2002 (399 .50) 0.00 20.00 Gamestop Corp 34649 11/11/2002 46598 0610V2002 (119 .49) 000 4.00 Gamestop Corp 69.30 11/11/2002 91 .96 06t07/2002 (22 .66) 0.00 58.00 Hurricane Hydrocarbons-Cl. A 56916 11/11/2002 749 .46 04/0412002 (180 .30) 000 153 .00 Overture Services Inc 3,20820 11/11/2002 4,491 .44 10t15/2002 (1,283 .24) 000 50.00 Overture Services Inc 1,04843 11/11/2002 1,467.29 10/16/2002 (418 .86) 000 132 .00 Take-two Interactv Sftwr 3,421 .99 11/11/2002 3,426.39 09/03/2002 (4.40) 000 11 .00 Take-two Interactv Sftwr 285.17 11/11/2002 280.92 09/04/2002 4 25 0.00 2.00 Take-two Interactv Sftwr 51 .85 11/11/2002 54.01 09/24/2002 (2.16) 0.00 155 .00 CSK Auto Corp 1,79268 11/12t2OO2 2,17045 07/08/2002 (377 .77) 0.00 19 .00 CSK Auto Corp 21975 11/12/2002 269 .95 07/09/2002 (50 .20) 000 121 .00 Gamestop Corp 2,15645 11/12/2002 2,781.79 06/07/2002 (625 .33) 000 65 .00 Gamestop Corp 1,15842 11/12/2002 1,473.28 06/10/2002 (31486) 000 29.00 Hurricane Hydrocarbons-Cl A 282.18 11/12t2002 374.73 04/04/2002 (9255) 000 32.00 Advanced Neuromodulation Sys . 991 .01 11/13/2002 1,039.21 08/08/2002 (48 .20) 0.00 68.00 Advanced Neuromodulation Sys 2,105.91 11/13/2002 2,222.68 08/09/2002 (116 .77) 0.00 258 .00 CSK Auto Corp 3,12521 11/13/2002 3,493.96 07/02r2002 (368 .65) 0.00 10.00 CSK Auto Corp 121 13 11/13/2002 14003 07/08/2002 (18 .90) 000 85 .00 CSK Auto Corp 1,029.62 11/13/2002 1,108.59 07/29/2002 (78 .97) 000 38 .00 CSK Auto Corp 460.30 11/13/2002 484.02 07/3012002 (23 .72) 000 14 .00 Espeed Inc Cl A 183 .93 11/13/2002 205 .99 11/01/2002 (22 06) 0.00 187 .00 Espeed Inc Cl A 2,45682 11/13/2002 2,757.82 11/04/2002 (301 .00) 0.00 18 .00 Expedia Inc -CL A 1,231 34 11/13/2002 1,138.17 10/24/2002 93 .17 0.00 74.00 Mid Atlantic Medical Services 2,64912 11/13/2002 2,765.70 06/06t2002 (116.58) 000 74.00 Sra International Inc-cl A 1,941 .62 11/1312002 2,18522 09/3012002 (24360) 000 10 .00 Sra International Inc-cl A 262.38 11/13/2002 289 .06 1 OfO2/2002 (26 .68) 000 131 .00 Take-two Interactv Sftwr 3,41961 11/13/2002 3,345.46 09/0412002 74.15 0.00 40.00 Ultra Petroleum Corp ADR 32370 11/13/2002 352.20 04/10/2002 (2850) 0.00 109 .00 CSK Auto Corp 1,36150 11/1412002 1,388.37 07/30/2002 (26.87) 000 141.00 Espeed Inc Cl A 1,874.48 11/1412002 1,955.36 10/25/2002 (8088) 000 137 .00 Espeed Inc Cl A 1,821 .30 11/1412002 2,015.76 11/01/2002 (19446) 0.00 20.00 Sra International Inc-cl A 519.60 11/14/2002 578 .13 lGtO2/2002 (58 .53) 0.00 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 3 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount) 61 .00 Sra International Inc-cl A 1,584.77 11/14/2002 1,75046 1011112002 (165 .69) 0.00 211 .00 Ultra Petroleum Corp ADR 1,729.98 11/14/2002 1,718.97 03/14/2002 1101 0.00 562.00 Ultra Petroleum Corp ADR 4,607.81 11/14/2002 4,948.35 04/10/2002 (340 .54) 0.00 158.00 Ultra Petroleum Corp ADR 1,295.43 1111V2002 1,396.59 05/06t2002 (91 .16) 0.00 76.00 Ultra Petroleum Corp ADR 623-12 11/14/2002 668.04 05/08/2002 (44 .92) 0.00 62.00 Advanced Neuromodulation Sys. 1,921 .32 11/18/2002 2,01346 08/08/2002 (92 .14) 0.00 80.00 Cognizant Tech. Solutions Corp. 5,337.22 11/1&*2002 4,407.89 07/17f2OO2 929.34 0.00 57 .00 Cognizant Tech Solutions Corp. 3,802.77 11/18/2002 3,183.70 07/25/2002 619.07 0.00 4.00 Cognizant Tech. Solutions Corp. 266.86 11/18/2002 236.52 07/29/2002 30.34 0.00 23 .00 Espeed Inc Cl A 318.40 11/18/2002 286.89 10/17/2002 31 .51 0.00 239.00 Espeed Inc C1 A 3,308.64 11/18/2002 3,314.40 10/25/2002 (5.76) 0.00 126.00 Fidelity Natl Info Solutions 2,757.74 11/18/2002 3,672.42 05/21/2002 (914 .68) 000 38 .00 Fidelity Nad Info Solutions 831 .70 11/1&'2002 t.044 87 05MM02 (213 .17) 000 50.00 Fidelity Nad Info Solutions 1,094.34 11/18/2002 1,196.57 W1412002 (10223) 000 14.00 Headwaters Inc 234.53 11/18/2002 263.88 05/09/2002 (29 .35) 0.00 107.00 Headwaters Inc 1,792.49 It/1812002 2,01463 05/1412002 (22214) 000 56.00 Hurricane Hydrocarbons-Cl. A 560.07 11 / 1 &12002 723.62 04/04/2002 (163 .55) 000 153.00 Overture Services Inc 3,760.94 11/18/2002 4,250.14 10/14/2002 (489 .20) 0.00 51 .00 Overture Services Inc 1,253.65 11/18/2002 1,49664 10/1612002 (242 .99) oko 34.00 Taro Pharmaceutical Indus. ADR 1,232.29 11/18/2002 1,158.05 09/26/2002 74.24 000 84.00 Taro Pharmaceutical Indus. ADR 3,044.47 11/18/2002 2,930.93 09/2712002 113 .54 0.00 98.00 Taro Pharmaceutical Indus. ADR 3,551.88 11/18/2002 3,33940 09/3012002 21248 0.00 97 .00 Advanced Neuromodulation Sys. 2,903-18 11/19/2002 3,150.09 08/08/2002 (24691) 000 9.00 Advanced Neuromodulation Sys. 269.37 11/1912002 28661 08/13/2002 (17 .24) 0.00 34.00 Advanced Neuromodulation Sys. 1,017.61 11/19/2002 1,07277 08/14/2002 (55 .16) 0.00 28 .00 Eon Labs Inc 636.70 11/19/2002 625.79 lOtl5/2002 10 .91 000 73.00 Eon Labs Inc 1,659.98 11/19/2002 1,634.35 1011612002 25 63 0.00 141 .00 Eon Labs Inc 3,206.26 11/19/2002 3,333.95 10117/2002 (127 .69) 0.00 34.00 Espeed Inc C1 A 449.90 11/19/2002 42096 05/2012002 28.94 0.00 110.00 Espeed Inc Cl A 1,455.55 11/19/2002 1,37206 10/17/2002 8349 000 25.00 Headwaters Inc 425 .95 11/19/2002 454.02 05106t2002 (28 .07) 000 33.00 Headwaters Inc 562.26 11/19/2002 621 .33 05/14/2002 (59 .07) 0.00 13 .00 Hurricane Hydrocarbons-C]. A 126.97 11/19/2002 167.98 04104/2002 (41 .01) 000 80.00 Hurricane Hydrocarbons-Cl. A 781 .38 11/19/2002 1,03195 04112/2002 (25057) 000 238.00 Thoratec Labs Inc 1,961-06 11/19/2002 2,317 10 11/07/2002 (356 .04) 000 92.00 Lendingtree Inc. 1,022.18 11/19/2002 1,453.52 09/10/2002 (43134) 000 62.00 Lendingtree Inc. 688 .86 11/19/2002 988 .67 09/13/2002 (299.81) 0.00 111 .00 Lendingtree Inc. 1,233.28 11/19/2002 1,772.70 09/16/2002 (53942) 0.00 36.00 Biosite Diagnostic Inc 1,005.21 11/20t2002 1,113.00 04130t2002 (107.79) 0.00 51 .00 Biosite Diagnostic Inc 1,424.04 11/20/2002 1,545.12 05/13/2002 (121 .08) 0.00 99.00 Biosite Diagnostic Inc 2,764.32 11/20/2002 3,003.50 05/23/2002 (239 .18) 000 InZ3 .0() Couistar Luc. 3,i7i.61 i V20rLOV-2 3,339.45 1 W 1 r2002 (167.84) 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceedg Date Cost Date Gain (- Loss) Premium Discount)

110.00 Cti Molecular Imaging Inc 2,589.87 11/20/2002 2,815 .58 09/30/2002 (22571) 000 40.00 Cti Molecular Imaging Inc 941 .77 11/20/2002 1,040.25 10/01/2002 (98 .48) 000 88 .00 Cti Molecular Imaging Inc 2,071.90 11/20/2002 2,289.45 10/0212002 (21755) 000 6600 Cti Molecular Imaging Inc 1,553.92 11/2012002 1,657.74 10103/2002 (103 .82) 000 88 .00 Eon Labs Inc 2,037.83 11/20/2002 1,96676 10115/2002 71 .07 000 13 .00 Espeed Inc Cl A 172.07 11/20/2002 157 .95 05/15/2002 14 .12 000 174 .00 Espeed Inc Cl A 2,303.13 11/20/2002 2,15435 05/20/2002 14878 000 82 .00 Gymboree Corp 1,534.70 11/20/2002 1,488.10 09/11/2002 46.60 0.00 19.00 Gymboree Corp 355.60 11/20/2002 343 .69 09/1212002 11.91 000 61 .00 Gymboree Corp 1,14167 11/20/2002 1,14607 09/13/2002 (440) 0.00 10.00 Gymboree Corp 187 .16 1 1/20t2002 18979 09/18/2002 (263) 0.00 175.00 Gymboree Corp 3,27527 11120/2002 3,339.18 1 Ot29/2002 (63 .91) 0.00 86.00 Taro Pharmaceutical Indus. ADR 3,114.47 11/20/2002 2,85256 09/1712002 261 .91 0.00 8200 Taro Pharmaceutical Indus. ADR 2,969.61 11/2012002 2,792.94 09/2612002 17667 0.00 70.00 Tlioratec Labs Inc 582 .20 11/20/2002 677 .44 11/0612002 (95 .24) 0.00 32 .00 Thoratec Labs Inc 266 .15 11/20/2002 311 .54 11/07/2002 (45 .39) 0.00 694.00 Western Digital Corp . 5,024.05 11/20/2002 5,176.75 11/04/2002 (152 .70) 000 37 .00 Biosite Diagnostic Inc 1,111 .63 11/21/2002 1,116 17 04/23/2002 (4.54) 0.00 87 .00 Biosite Diagnostic Inc 2,613.83 11/21/2002 2,635.80 05/13/2002 (21 .97) 0.00 2.00 Coinstar Inc. 49.57 11/21/2002 5430 1 Otl 1/2002 (4 .73) 0.00 59.00 Gamestop Corp 1,139.14 11/21/2002 1,329.12 05/23/2002 (18998) 0.00 18 .00 Gamestop Corp 347 .53 11/21/2002 407.98 06tlOt2OO2 (60.45) 0.00 33.00 Gamestop Corp 637.15 11/21/2002 694.18 08/21/2002 (57 .03) 0.00 116.00 Lendingtree Inc. 1,457.68 11/21/2002 1,832.70 09/10/2002 (375 .02) 0.00 136.00 Biosite Diagnostic Inc 4,014.28 11/22/2002 4,102.67 04/23/2002 (88.39) 0.00 13900 Gamestop Corp 2,603.33 11/22/2002 2,92396 08/21/2002 (320.63) 000 68.00 Lendmgtrre Inc. 98128 11/22/2002 1,072.90 09/09/2002 (91 .62) 0.00 47.00 Lendingtree Inc. 678.24 11/22/2002 742.56 09/10/2002 (64.32) 000 13.00 Anteon International Corp 268.66 11/25/2002 364.03 lOtO212002 (95 .37) 0.00 89.00 Anteon International Corp 1,839.28 11/25/2002 2,482.35 1 Gt03/2002 (64307) 000 83 .00 American Pharmaceutical Part 1,695.14 11/25/2002 1,62998 10/16t2OO2 65.16 0.00 93 .00 Biosite Diagnostic Inc 2,821.22 11/25/2002 2,80550 04/23/2002 15 .72 000 20.00 Fidelity Nad Info Solutions 434.35 11/25/2002 478.63 06/14/2002 (44.28) 000 9.00 Gamestop Corp 166.63 11/25/2002 189.32 08121/2002 (2269) 000 12.00 Gamestop Corp 222.17 11/2512002 250.75 09/11/2002 (28 .58) 000 10200 Gamestop Corp 1,88846 11/25/2002 2,138.44 09/12/2002 (249 .98) 000 123 .00 Hurricane Hydrocarbons-Cl. A 1,15623 11/2512002 1,58663 04/12/2002 (430 .40) 0.00 6600 Intermune Inc 2,189.48 11125/2002 2,463.87 10/28/2002 (274 .39) 000 29 .00 letBlue Airways Corp 99608 11/25/2002 1,411.73 06t 1 1/2002 (41565) 000 46.00 JetBlue Airways Corp 1,580.00 11/25/2002 2,254.99 06tl3/2002 (674 .99) 0.00 93.00 JetBlue Airways Corp 3,194.34 11/25/2002 4,588.74 06/17/2002 (1,394 .40) 0.00 50.00 JetBlue Airways Corp 1,717.39 11/25/2002 2,447.50 06t 1 V2002 (730 .11) 000 Dyiehaus Capital Management Friday January 23, 2004 16:54:16 Page 5 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceed5 Date cost Date Gain (- Loss Premium Discount

28.00 JetBlue Airways Corp 961 .74 11/25/2002 1,36584 06119/2002 (404.10) 000 109 .00 Steris Corp 2,511 .40 11125/2002 2,671 .31 09/30/2002 (159 .91) 0.00 7.00 Steris Corp 16128 11/25/2002 174 .12 10/03/2002 (1284) 000 12 .00 Anteon International Corp 254.83 11/2612002 33470 10103/2002 (79.87) 000 36-00 Anteon International Corp 764.48 11/2612002 987.21 10111/2002 (222.73) 0.00 83-00 Anteon International Corp 1,762.56 1112612002 2,311 .09 10/1612002 (548.53) 000 80.00 American Pharmaceutical Part 1,604.14 11/26/2002 1,561.01 10/1512002 43 .13 000 21 .00 American Pharmaceutical Part 421 .09 11/26/2002 41240 10/16/2002 8.69 0.00 18.00 Biosite Diagnostic Inc 535.90 11/2612002 543 .00 04/23/2002 (7.10) 000 71 .00 Biosite Diagnostic Inc 2,113.83 11/26/2002 2,009.53 0610312002 10430 000 94.00 Biosite Diagnostic Inc 2,50087 11/2612002 2,350.57 06/04/2002 15030 000 1500 Biosite Diagnostic Inc 446.58 1112612002 424.35 06128n002 2223 0.00 12 .00 Biosite Diagnostic Inc 357.27 11/2612002 321 .15 09/11/2002 36.12 0.00 59.00 Hurricane Hydrocarbons-Cl. A 551 .29 11/2612002 761 .06 04/12/2002 (209 .77) 000 77.00 Interimme Inc 2,394.62 11126/2002 2,793.29 10/15/2002 (398 .67) 000 24.00 Intermune Inc 746.38 11/26t2OO2 861 .43 10/25/2002 (115 .05) 0.00 22.00 Intermune Inc 68418 1112612002 921 .29 10/2&'2002 (137 .11) 0.00 9.00 JetBlue Airways Corp 315.25 11/26(2002 407 .74 04/17/2002 (92 .49) 000 67.00 JetBlue Airways Corp 2,346.90 11/26/2002 3,086.80 06/07/2002 (739 .90) G.00 41 .00 JetBlue Airways Corp 1,436.16 11/2612002 1,995.89 06fl 1/2002 (559 .73) 0.00 4000 JetBlue Airways Corp 1,401 .13 11/26/2002 1,915.46 06/12/2002 (514 .33) 000 42.00 JetBlue Airways Corp 1,471 .19 1 lf2612002 2,039.52 0611412002 (56833) 000 28.00 JetBlue Airways Corp 98079 11/26/2002 1,360.52 06r2O/2002 (37973) 0.00 43.00 JetBlue Airways Corp 1,506.22 11/2612002 2,06962 06121/2002 (563 .40) 0.00 43.00 JetBlue Airways Corp 1,50622 1 1/26t2002 2,071.54 06124/2002 (56532) 0.00 412.00 Ultra Petroleum Corp ADR 3,502.51 11/2612002 3,342.47 03/13/2002 160.04 000 428-00 Ultra Petroleum Corp ADR 3,638.53 11/26t2OO2 3,486.83 03114/2002 151 .70 000 64.00 Biosite Diagnostic Inc 1,862.60 11/27/2002 1,600.07 09/1012002 262.53 000 51 .00 Biosite Diagnostic Inc 1,484.26 11127/2002 1,364.87 09/11/2002 119.39 0.00 261 .00 Espeed Inc Cl A 3,917.18 11/27/2002 3,171 15 05/15/2002 746.03 000 19 .00 Fidelity Natl Info Solutions 397.44 11/27/2002 454.69 06114/2002 (57 .25) 0.00 19.00 Gamestop Corp 354.79 11/27/2002 395 .31 08/20/2002 (40 .52) 000 50-00 Gamestop Corp 933.67 11/27/2002 1,044.81 09/11/2002 (111 .14) 0.00 57-00 Hurricane Hydrocarbons-Cl. A 536.64 11/27/2002 73527 04112/2002 (19863) 000 74.00 Intermune Inc 2,31348 11/27/2002 2,645.35 10/1612002 (331 .87) 0.00 56.00 Intermune Inc 1,750.74 11/27/2002 2,010.00 10125/2002 (259 .26) 000 42.00 SurModics Inc 1,353.66 11/27/2002 1,833.73 03/1 V2002 (480 .07) 0.00 188 .00 SurModics Inc. 6,059.26 11/27/2002 8,274.65 04109/2002 (2,215 .39) 0.00 239.00 11oratec: Labs Inc 1,995.59 11127/2002 2,312.97 11/06/2002 (317 .38) 000 107 .00 'Moratec: Labs Inc 893 .42 11/27/2002 1,01824 11/1112002 (124 .82) 000 1 .00 Western Digital Corp. 8.34 11/27/2002 6.50 10/22/2002 1.84 0.00 462.00 Western Digital Corp . 3,854.81 1 !M12002 3,201.01 1 UOM2002 653.80 0.00

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Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 6 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantit Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

62.00 Cognizant Tech. Solutions Corp 4,446.67 11/29/2002 3,41611 07/17/2002 1,030.56 000 5.00 Cognizant Tech. Solutions Corp 358 .60 11/29/2002 271 19 07/2312002 87 .41 000 40.00 Gamestop Corp 74489 11/29/2002 83224 08/2012002 (87.35) 0.00 81 .00 Headwaters Inc 1,292.90 11/29/2002 1,47102 05/0612002 (178.12) 0.00 52 .00 Intermune Inc 1,600.99 11 f29/2002 1,76466 10/14/2002 (163.67) 0.00 27 .00 Intermune Inc 83128 11/29/2002 96520 10/1612002 (133.92) 000 59 .00 SurModics Inc. 1,903.28 11/29/2002 2,575.96 03/18/2002 (67268) 000 47 .00 Steris Corp 1,06472 11/29/2002 1,151.85 09/30/2002 (87.13) 0.00 8.00 Take-two Interactv Sftwr 241.83 11129/2002 20302 08/20/2002 38 .81 000 39 .00 Takc-two Interactv Sftwr 1,178.93 11/29/2002 995.98 09/04/2002 182 .95 0.00 304 .00 Western Digital Corp 2,561.61 11/29/2002 1,975.45 10/22/2002 586.16 000 20.00 American Pharmaceutical Part 380 .95 12/02/2002 363 .90 lOtl4/2002 17 .05 000 67 .00 American Pharmaceutical Part 1,276.17 12/02/2002 1,307.34 10/15/2002 (31 17) 0.00 41 .00 Corinthian Colleges Inc 1,553.85 12/0212002 90877 02/0812002 64508 000 43 .00 Corinthian Colleges Inc 1,629.65 12/02/2002 967 .50 02/11/2002 662 .15 000 70.00 Corinthian Colleges Inc 2,652.92 12/02/2002 2,85023 11/25/2002 (197.31) 000 40.00 Fidelity Nad Info Solutions 803 .57 1210212002 95725 06/14/2002 (153.68) 000 29 .00 Fidelity Natl Info Solutions 582.59 12/0212002 672.58 08/1212002 (8999) 0.00 62 .00 Garnestop Corp 1,173.86 12102/2002 1,289.97 08/20/2002 (11611) 000 91 .00 Gamestop, Corp 1,722.92 12/02/2002 1,880.41 08/26/2002 (157.49) 000 79 .00 Gamestop Corp 1,495.72 12/02/2002 1,63087 08/27/2002 (135.15) 000 74 .00 Gamestop Corp 1,401 .06 12102/2002 1,539.45 08/28r2OO2 (138.39) 000 11 .00 Gamestop, Corp 20827 12102/2002 22440 09/03/2002 (16.13) 000 421 .00 Genesis Microchip Inc. ADR 8,001 .36 12/0212002 8,798.31 11/25/2002 (796.95) 0.00 151.00 Headwaters Inc 2,337.66 12/02/2002 2.742 .27 05/06(2002 (404.61) 0.00 104.00 Hurricane Hydrocarbons-Cl. A 953.01 12/02/2002 1,33851 04/10/2002 (38550) 000 4.00 Hurricane Hydrocarbons-Cl. A 36 .65 12/0212002 51 .60 04/12/2002 (14.95) 000 11 .00 Hurricane Hydrocarbons-Cl. A 100 .80 12/0212002 14086 04116/2002 (40.06) 000 50.00 Hurricane Hydrocarbons-Cl. A 460.98 12/02/2002 64027 04/1612002 (179.29) 0.00 153.00 Intermune Inc 4,598.36 12/02/2002 5,11623 10102/2002 (517.87) 0.00 25 .00 Intermune Inc 751 .37 12/02/2002 84840 10/14/2002 (97.03) 0.00 73 .00 SurModics Inc. 2,319.86 12/0212002 3,187.20 03/1812002 (867-34) 0.00 100.00 Steris Corp 2,204.43 1210212002 2,45074 09/30/2002 (246.31) 0.00 179.00 Take-two hiteractv Sftwr 5,317.87 12/02/2002 4,542.59 08/20/2002 77528 000 147.00 Corinthian Colleges Inc 5,365.40 12/0Y2002 3,25825 02/08/2002 2,107.15 0.00 34.00 Fidelity Nad Info Solutions 673.88 12/03/2002 78854 08/12/2002 (11466) 000 154.00 Hurricane Hydrocarbons-Cl A 1,441 22 12/03/2002 1,97203 0411612002 (53081) 000 79.00 SurModics Inc. 2,504.64 12/03/2002 3,44916 03/18/2002 (94452) 000 77 .00 Adtran Inc. 2,473.79 12/04/2002 2,584.58 11/2712002 (11079) 0.00 109.00 Corinthian Colleges Inc 4,063.66 12104/2002 2,41567 02/07/2002 1,647.99 000 18.00 Corinthian Colleges Inc 671 .06 12/04/2002 398.97 02108/2002 272.09 0.00 37 .00 Hurricane Hydrocarbons-Cl. A 350.75 12/0412002 473.80 04/1612002 (123 .05) 0.00 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 7 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

140-00 Espeed Inc C1 A 2,022.57 12106/2002 1,701 .00 05/15/2002 32157 0.00 2.00 Espeed Inc C1 A 28 .82 12/09/2002 2430 05/15/2002 4.52 0.00 3.00 Espeed Inc C1 A 43 .24 12/09/2002 3390 10/02/2002 9.34 0.00 120.00 Espeed Inc Cl A 1,729.41 12/09/2002 1,43250 10/1612002 29691 0.00 2000 Checkftw Corp . 338.76 12/10/2002 349.63 11/0612002 (10.87) 000 113.00 Checkfive Corp . 1,914.01 12110/2002 2,270.40 11/25/2002 (356 .39) 000 54.00 Espeed Inc Cl A 805.81 12/10/2002 587.34 09/27/2002 218.47 0.00 3.00 Espeed Lac Cl A 44 .77 12/10/2002 33 .90 10102/2002 1087 0.00 150.00 Espeed Inc C1 A 2,238.35 12/10/2002 1,688.40 10103/2002 549.95 0.00 54.00 Espeed Inc Cl A 805.81 12/10/2002 586.29 10/04/2002 219.52 0.00 64.00 Gymboree Corp 1,244.37 12/10/2002 1,136.72 04/11/2002 107.65 0.00 52.00 Gymboree Corp 1,01105 12/10/2002 940.64 09/12/2002 7041 0.00 77.00 Hurricane Hydrocarbons-Cl . A 714.14 12/10/2002 986.02 0411612002 (271 .88) 0.00 59.00 Irnation Corp 2,197.51 12/1012002 2,452.27 10/28/2002 (254.76) 0.00 109.00 hnation Corp 4,059.80 1211012002 4,534.76 11/18/2002 (47496) 0.00 139.00 Nextel Partners Inc -cl A 928.49 12/10/2002 1,084.76 11/0412002 (15627) 0.00 7.00 Checkfim Corp . 116.89 12/11/2002 122.37 11/06/2002 (5 .48) 0.00 139.00 Corinthian Colleges Inc 5,081 .99 12/11/2002 3,06820 02/0512002 2,013.79 000 45-00 Corinthian CoBeges Inc 1,645.25 12/11/2002 997.30 02/07/2002 647.95 000 32 .00 Gymboree Corp 627.16 12111/2002 568.36 04/11/2002 58 .80 0.00 73.00 Gymboree Corp 1,430.71 12111/2002 1,291 .95 04/24/2002 138.76 0.00 42.00 Hurricane Hydrocarbons-Cl . A 379.00 12/11/2002 537.83 04/16/2002 (158.83) 0.00 110.00 hnation Corp 4,078.57 12/11/2002 4,572.03 10/28/2002 (493 .46) 0.00 43.00 Irnation Corp 1,59435 12/11/2002 1,772.14 11/01/2002 (177 .79) 0.00 326.00 Nextel Partners Inc -cl A 2,209.04 12/11/2002 2,458.86 11/01/2002 (249.82) 0.00 8.00 Ncxtel Partners Inc -cl A 54 .21 12/11/2002 62 .43 11/0412002 (8.22) 0.00 15.00 Thoratec Labs Inc 112.44 12/11/2002 142.74 11/11/2002 (3030) 0.00 103.00 Take-two Interactv Sftwr 2,574.09 12/11/2002 2,613.89 08/20/2002 (39.80) 0.00 42.00 Checkfree Corp . 711 .21 12/12/2002 718.98 11/0512002 (7.77) 0.00 167.00 Checkfree Corp . 2,827.89 12/1212002 2,919.44 1 I/06f2002 (91.55) 0.00 93.00 Corinthian CoHeges Inc 3,437.10 12/1212002 2,051 .11 02/01/2002 1,38599 0.00 15.00 Corinthian Colleges Inc 554.37 12/1212002 331 .10 02/05/2002 223.27 0.00 23.00 Hurricane Hydrocarbons-Cl. A 205.09 12/12/2002 294.52 04/1612002 (89.43) 0.00 39.00 Hurricane Hydrocarbons-Cl . A 347.77 12/1212002 438.75 09/0512002 (90.98) 0.00 18.00 Nextel Partners Inc -cl A 120.96 12/1212002 128.47 10/2912002 (7 .51) 0.00 197.00 Nextel Partners Inc -cl A 1,323.79 12/1212002 1,485.87 11/01/2002 (162.08) 0.00 117.00 Thoratec Labs Inc 874.80 12/1212002 1,111 .92 11/0812002 (237 .12) 0.00 115.00 Thoratec Labs Inc 859.85 12/12/2002 1,094.37 11/11/2002 (234 .52) 0.00 43 .00 Thoratec Labs Inc 321 .51 12/12/2002 407.89 11/12/2002 (86.38) 0.00 16.00 Take-two Interactv Sftwr 410.09 12/1212002 406.04 08120/2002 4.05 0.00 93 .00 Take-two Interactv Sftwr 2,383.66 12t1212002 2,334.14 08/29/2002 49.52 0.00 1 1 .- W, iijinnnn-i O.A_0 2721 .00 Affify-Laetfix ine. 65 73 1 VI 3 /2 WL 75 U6 . U6 J5 (11044 .68)

0 0 0 0 0 G 0 46 0 0 0 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 8 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

64.00 Affymetrix Inc. 1,545.41 12/13/2002 1,798.31 11/2012002 (252 .90) 000 5.00 Corinthian Colleges Inc 178 .79 12/13/2002 110.28 02/01/2002 68.51 000 91 .00 Hurricane Hydrocarbons-Cl A 81029 12/13/2002 988 .00 09/04/2002 (17771) 000 53.00 Humcane Hydrocarbons-Cl. A 471 93 12/13/2002 596.25 09/0512002 (12432) 000 92.00 Imation Corp 3,21267 12113/2002 3,752.17 1013012002 (539 .50) 000 80.00 Imation Corp 2,793.62 12/13/2002 3,29700 11/01/2002 (503 .38) 000 139 .00 Nextel Partners Inc -cl A 895 .74 12/1312002 99206 10/2912002 (96 .32) 000 9.00 SurModics Inc. 27277 12/13/2002 392.94 03/1812002 (120 .17) 000 39.00 SurModics Inc. 1,181.99 1211312002 1,68766 04116/2002 (505 .67) 000 55.00 Thoratec: Labs Inc 41929 12/13/2002 52171 11/1212002 (102 .42) 000 14 .00 Take-two Interactv Sftwr 32271 12/13/2002 35138 08/29/2002 (2867) 0.00 2.00 Western Digital Corp. 13.38 12/13/2002 13.00 10/22/2002 0.38 000 308.00 Western Digital Corp. 2,059.90 12/13/2002 1,99418 10/28/2002 65.72 000 215.00 Western Digital Corp. 1,43792 12113/2002 1,34837 10/29/2002 89.55 000 92.00 Western Digital Corp. 615 .30 12113/2002 58888 10/30/2002 26.42 000 170.00 Western Wireless Corp. - Cl. A 1,045.46 12113/2002 1,220.24 11/21/2002 (17478) 000 150 .00 Affymetrix Inc. 3,52468 12/16/2002 4,19507 11/18/2002 (670 .39) 000 5000 Aftymetrix Inc. 1,174.89 12116/2002 1,401.20 11/19/2002 (226 .31) 000 191 .00 Checkfree Corp. 2,955.63 12/1612002 3,23078 11/04/2002 (275 .15) 000 118 .00 Checkfree Corp. 1,825.99 12/1612002 2,01998 11/05/2002 (193 .99) 000 137 .00 Corinthian Colleges Inc 4,941.29 1211612002 3,021.54 02/01/2002 1,919.75 0.00 62.00 Eon Labs Inc 1,293.17 12/1612002 1,375.51 09/18/2002 (82 .34) 0.00 104 .00 Eon Labs Inc 2,169.20 12/16/2002 2,306.24 09/27/2002 (137 .04) 0.00 19 .00 Eon Labs Inc 396.30 12/1612002 42464 10115/2002 (28 .34) 000 308.00 Internet Security Systems 6,544.80 12/16t2002 8,106.34 11/25/2002 (1,561 .54) 0.00 115 .00 Nextel Partners Inc -cl A 767 .78 1211612002 82077 10/29/2002 (52 .99) 0.00 44.00 SurModics Inc. 1,343.16 1211612002 1,90247 04/11/2002 (559 .31) 0.00 78.00 SurModics Inc. 2,381.06 12/1612002 3,375.32 04/1612002 (994 .26) 0.00 43.00 SurModics Inc. 1,312.64 12/16/2002 1,59468 11/15/2002 (272 .04) 0.00 16-00 SurModics Inc. 488.42 12116/2002 583 .90 11/18/2002 (95 .48) 0.00 447.00 Western Wireless Corp. - Cl. A 2,637.70 12116/2002 3,208.52 11/21/2002 (570 .82) 000 68.00 Affymetrix Inc. 1,608.92 12/17/2002 1,83933 11/04/2002 (230.41) 000 11.00 Affymetrix Inc. 26027 12/17/2002 30764 11/1812002 (47 .37) 000 75.00 Corinthian Colleges Inc 2,740.21 12/17/2002 1,654.13 02/01/2002 1,086.08 000 154.00 Internet Security Systems 3,294.73 12/17/2002 4,053 17 11/25/2002 (758 .44) 0.00 55 .00 Nextel Partners Inc -cl A 37562 12117/2002 39254 10/29/2002 (16 .92) 000 91 .00 Affymetrix Inc. 2,118.41 12118/2OD2 2,461.46 11/0412002 (343 .05) 000 75 .00 Affymetrix Inc. 1,745.95 12/1812002 2,01658 11/05/2002 (270 .63) 0.00 15.00 Checkfi-ee Corp. 238.49 1211812002 253 .73 11/0412002 (15 .24) 000 160 .00 Cti Molecular Imaging Inc 3,637.82 12/18/2002 3,837.17 09/05/2002 (199 .35) 0.00 32.00 Cti Molecular Imaging Inc 727.56 12/18/2002 751 .49 09/2612002 (23 .93) 000 23.00 Cti Molecular Imaging Inc 522.94 12/18/2002 577 .70 10/03/2002 (54 .76) 0.00 Dfiehaus Capital Management Friday January 23, 2004 16:54:16 Page 9 Gains and Loss Reportfron: 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss Premium Discount)

85-00 Cti Molecular Imaging Inc 1,932.59 12/18/2002 2,106.65 10104/2002 (174 .06) 0.00 12 .00 Eon Labs Inc 230 .69 12/18/2002 265 .91 09/26/2002 (35 .22) 000 8000 Eon Labs Inc 1,537.95 12/1 W2002 1,774.03 09/27/2002 (236 .08) 000 37-00 Fidelity Nad Info Solutions 621 .58 12/1 &'2002 84665 08/09/2002 (22507) 0.00 22.00 Fidelity Nad Info Solutions 369.59 12/18/2002 51023 08/1212002 (14064) 0.00 10.00 Fidelity Nad Info Solutions 167 .99 12/18/2002 221 .35 09/03/2002 (5336) 0.00 118.00 4kids Entertainmetit Inc 2,593.91 12/18/2002 3,449.74 10123/2002 (855.83) 000 119.00 Leapfrog Enterprises Inc 3,186.80 12/18/2002 3,756.09 11/15/2002 (569.29) 000 93 .00 Leapfrog Enterprises Inc 2,49053 12/18/2002 3,124.22 11/18/2002 (633.69) 000 77.00 Affymetrix Inc. 1,824.16 12/19/2002 2,070.35 11/05/2002 (246.19) 000 41.00 Checkfree Corp . 638.38 12/1912002 672.78 11/01/2002 (34.40) 0.00 142 .00 Checkfree Corp . 2,210.97 12/19/2002 2,401 .94 11/04/2002 (190.97) 0.00 103.00 Cti Molecular Imaging Inc 2,321.57 12/19/2002 2,38776 09/04/2002 (66.19) 000 128.00 Cti Molecular Imaging Inc 2,885.06 12/19/2002 3,005.96 09/26t2002 (120.90) 000 146.00 Eon Labs Inc 2,763.05 12119/2002 3,235.29 09/26/2002 (47224) 0.00 76.00 Vialta Inc 24.73 12/19/2002 0.00 11/15/2002 24.73 000 50.00 Fon Labs Inc 924.07 12/20/2002 1,107.97 09/2612002 (183 .90) 0.00 27 .00 Eon Labs Inc 499.00 12/20/2002 594.83 10/1412002 (95 .83) 000 1.00 Cash in lieu - Short Term 8.75 12/23/2002 0.00 12/23/2002 8.75 000 26.00 Eon Labs Inc 476.68 12/23/2002 571 .02 10102/2002 (94.34) 0.00 73.00 Eon Labs Inc 1,338.37 12/23/2002 1,608.26 10114/2002 (269 .89) 000 52.00 Leapfrog Enterprises Inc 1,264.03 12/23/2002 1,495.62 10130/2002 (231 .59) 000 71 .00 Leapfrog Enterprises Inc 1,725.89 12/2312002 2,115.39 11/14/2002 (389 .50) 0.00 60.00 Leapfrog Enterprises Inc 1,458.50 12/23/2002 1,893.83 11/15/2002 (43533) 0.00 31 .00 Eon Labs Inc 558 .37 12r24/2002 680.83 10/02/2002 (12246) 0.00 132.00 Leapfrog Enterprises Inc 3,17362 12124/2002 3,796.58 10/30/2002 (622 .96) 000 104.00 Affyinetrix Inc. 2,485.78 12/26/2002 2,662.35 10/29/2002 (176 .57) 000 6.00 Affymetrix Inc. 143 .41 12/26/2002 153 .40 10130/2002 (9.99) 000 48.00 Affymetrix Inc. 1,147.28 12/26/2002 1,29061 11/05/2002 (143 .33) 0.00 89.00 Checkfiree Corp. 1,500.42 12/26/2002 1,365.30 10/24/2002 135 .12 000 113.00 Checkfree Corp. 1,905.03 12/26/2002 1,854.24 11/01/2002 5079 0.00 39 .00 Eon Labs Inc 697.89 12/26/2002 856 .53 10/02/2002 (158 .64) 0.00 92 .00 Knspy Kreme Doughnuts Inc 3,007.11 1212612002 3,453.68 05/01/2002 (446 .57) 000 170-00 Western Wireless Corp . - Cl. A 1,009.24 12/26/2002 1,195.10 11/25/2002 (18586) 0.00 447 .00 Western Wireless Corp . - Cl. A 2,65371 12/26/2002 3,037.59 11/2612002 (383 .88) 000 16600 Checkfi-ee Corp. 2,808.10 12/27/2002 2,546.52 10/24/2002 261 .58 000 13 .00 Eon Labs Inc 230.60 12127/2002 278.25 09/16(2002 (47 .65) 000 106 .00 Eon Labs Inc 1,880.24 12/27/2002 2,274.31 09/24/2002 (394.07) 0.00 1 .00 Eon Labs Inc 17.74 12/27/2002 21 .96 10/02/2002 (4.22) 0.00 154 .00 Aflymetrix Inc. 3,455.28 12/30/2002 3,849.62 lOa4/2002 (394.34) 0.00 69.00 Affymetrix Inc. 1,548.15 1213012002 1,746.20 10/2&'2002 (198.05) 0.00 113.00 A-ffymetr-,x Inc. 2,535.37 312/30,12002 41,009 00 .1^IV 105-Q 2002 (353.73) 0.00

40 & 0 0 0 19 0 0 0 0 0 0 0 0

Diiehaus Capital Management Friday January 23, 2004 16:54:16 Page 10 Gains and Loss Reportfi-om 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

53 .00 Checkfree Corp . 859.85 12/30/2002 813 .05 lGr24/2002 4680 000 3.00 Eon Labs hic 53.55 12/30/2002 6280 09/1112002 (9.25) 0.00 26.00 Eon Labs Inc 46412 12/3=002 55649 09/1612002 (92-37) 000 64.00 Eon Labs Inc 1,14246 12/3=002 1,366.12 09/1712002 (22366) 000 135 .00 Gymboree Corp 2,140.38 12/31/2002 2,352.62 04/2212002 (21224) 0.00 85 .00 Gymboree Corp 1,347.65 12/3112002 1,46598 04123/2002 (118 .33) 000 100.00 Gymboree Corp 1,585.47 12/31/2002 1,76980 04/24/2002 (18433) 0.00 154.00 Gymboree Corp 2,461 .79 01/0212003 2,656.01 04/23/2002 (19422) 0.00 19300 Lexar Media Inc. 1,175.85 01/02/2003 995.88 07/16t2OO2 17997 0.00 164.00 I-exar Media Inc. 99917 01/02/2003 854 .29 07/18/2002 144 .88 0.00 111 .00 Lexar Media Inc. 67025 01/03/2003 572.76 07/16t2002 9749 0.00 53 .00 Lexar Media Inc. 32003 01/03/2003 255.14 07/19/2002 6489 0.00 23 .00 Lexar Media Inc 13888 01/03/2003 104-13 07/3012002 34.75 000 154 .00 Adtran Inc. 5,606.05 01/06/2003 4,903.05 11/25/2002 703 .00 0.00 57.00 Anba Inc 169.73 01/06t2003 213.66 11/15/2002 (43 .93) 0.00 587.00 Ariba Inc 1,74796 01/0612003 2,27967 11/18/2002 (531 .71) 0.00 1 .00 Ariba Inc 298 01/0612003 4.37 11/25/2002 (1.39) 0.00 694.00 Ariba Inc 2,066.58 01/0612003 2,911 .75 11/26/2002 (845 .17) 000 4.00 Cognizant Tech. Solutions Corp. 28603 01/06/2003 215.63 07/16t2002 70.40 0.00 41 .00 Cognizant Tech. Solutions Corp. 2,931.80 01/06t2003 2,223.78 07/23/2002 70802 0.00 205.00 Foundry Networkd Inc. 1,61791 01/0612003 1,42926 11/0712002 188 .65 0.00 72.00 Foundry Networkd Inc. 568.24 01/0612003 488.30 IYOU2002 79 .94 0.00 307.00 Foundry Networkd Inc. 2,422.92 01/0612003 2,662.67 11/1812002 (239.75) 000 309.00 Foundry Networkd Inc. 2,438.71 01/0612003 3,120.90 11/27/2002 (682.19) 0.00 216.00 Foundry Networkd Inc. 1,704.73 01/0612003 2,253.03 1210212002 (548.30) 000 260.00 Foundry Networkd Inc 2,051.99 01/0612003 2,30204 12104/2002 (250.05) 0.00 158 .00 Genesis Microchip Inc. ADR 2,412.11 01/0612003 2,412.87 11/07/2002 (0.76) 000 113 .00 Genesis Microchip Inc. ADR 1,72512 01106/2003 2,042.68 11/18/2002 (317.56) 0.00 5.00 Genesis Microchip Inc. ADR 76.33 01/0612003 104 .49 11125/2002 (28 .16) 0.00 113 .00 Lexar Media Inc. 622.55 01/06/2003 501 .35 07/2312002 121 .20 000 459.00 Lexar Media Inc. 2,528.78 01/0612003 2,07803 07/30/2002 450.75 0.00 206.00 Lexar Media Inc. 1,134.92 01/0612003 92838 07/31/2002 206.54 0.00 309-00 Pinnacle Systems Inc 4,25285 01/0612003 4,359.56 1 I/OW2002 (106.71) 000 13.00 Pinnacle Systems Inc 17892 01/0612003 179 .69 11/08/2002 (077) 000 99-00 Pinnacle Systems Inc 1,36256 01/0612003 1,383.57 11/14/2002 (21 .01) 000 122 .00 Taro Pharmaceutical Indus. ADR 4,513.48 01/0612003 4,046.65 09/17/2002 46683 0.00 47.00 Taro Pharmaceutical Indus. ADR 1,73880 01106/2003 1,558.76 09/25/2002 18004 0.00 151 .00 Foundry Networkd Inc. 1,219.92 01/07/2003 923.65 10/07/2002 296 .27 000 185 .00 Foundry Networkd Inc. 1,49460 01/07/2003 1,25465 11/08/2002 239 .95 0.00 35.00 Aids Entertainment Inc 799 .95 01/07/2003 1,023.23 10/23/2002 (223 .28) 0.00 36.00 4kids Entertainment Inc 822 .80 01/07/2003 1,040.55 11/0612002 (217 .75) 0.00 67 .00 Pinnacle Systems Inc 832 .05 01/07/2003 907.75 11/07/2002 (75 .70) 0.00 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page I I Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purchase Realized Unamortized Bond Quantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount) 141 .00 Pinnacle Systems Inc 1,751 .04 01/07/2003 1,948.90 11/08/2002 (197.86) 000 216.00 Pumacle Systems Inc 2,682.44 01/07/2003 2,947.17 11/13/2002 (26473) 000 92.00 Taro Pharmaceutical Indus. ADR 3,149.44 01/07/2003 3,00609 09/2012002 143.35 000 82-00 Taro Pharmaceutical Indus. ADR 2,807.11 01/07/2003 2,71953 09/25/2002 87.58 0.00 45-00 Cognizant Tech. Solutions Corp. 2,928.06 01/08/2003 2,425.80 07/1612002 502.26 0.00 2.00 Foundry Networkd Inc 16.67 01/08/2003 1223 1 QfG7/2002 4.44 0.00 66.00 41dds Entertainment Inc 1,479.76 01/0812003 1,90768 11/0612002 (427.92) 000 98-00 Leapfrog Enterprises Inc 2,683-03 01/08/2003 2,63841 10/28/2002 44.62 000 10.00 Leapfrog Enterprises Inc 273.78 01/08/2003 287.62 10/30/2002 (13 84) 000 46.00 Leapfrog Enterprises Inc 1,259.38 01/08/2003 1,323.02 11/13/2002 (63.64) 0.00 134.00 Pumacle Systems Inc 1,678.68 01/08/2003 1,815.50 11/07/2002 (13682) 000 78.00 Pinnacle Systems Inc 977.14 01/08/2003 1,050.90 11/11/2002 (73.76) 0.00 52.00 Taro Pharmaceutical Indus. ADR 1,763.62 01/08/2003 1,699.09 09/20/2002 64.53 0.00 63.00 Taro Pharmaceutical Indus ADR 2,136.70 01/08/2003 2,03423 09n4/2002 102.47 000 81.00 United Therapeutics 1,353.77 01/08/2003 1,413.42 12118/2002 (59.65) 000 57.00 United lberapeutics 921 .65 01/09/2003 975.33 09/20/2002 (53.68) 0.00 2.00 United lberapeutics 32.34 01/09/2003 34.90 12/18/2002 (256) 000 87.00 United Therapeutics 1,406.73 01/09/2003 1,505.10 12/19/2002 (98.37) 0.00 55.00 Chicds FAS Inc. 1,088.29 01/10/2003 1,078.82 05/13/2002 9.47 000 246-00 Chicds FAS Inc. 4,867.62 01/10/2003 5,508.53 11/26t2OO2 (640.91) 0.00 46-00 Cognizant Tech. Solutions Corp. 2,897.91 01/1012003 2,479.70 07/16/2002 418.21 000 31.00 41dds Entertainment Inc 689.23 01/10/2003 896.03 11/0612002 (20680) 000 86.00 Lexar Media Inc. 493.60 01/10(2003 381.56 07/2312002 112.04 000 275.00 Lexar Media Inc. 1,578.37 01/10/2003 1,164.24 07/24/2002 414.13 000 154.00 Lexar Media Inc. 883.89 Ol/IO/2003 680.28 09/11/2002 203.61 000 470.00 Lexar Media Inc. 2,697.57 01/10/2003 2,02100 09/1212002 67657 0.00 22.00 Leapfrog Enterprises Inc 586.87 01/1012003 537.68 10124/2002 49.19 000 26.00 Leapfrog Enterprises Inc 693.58 01/10/2003 69999 10/28/2002 (641) 0.00 45.00 Leapfrog Enterprises Inc 1,20042 0111WO03 1,147.42 10/29/2002 53.00 0.00 90.00 Pinnacle Systems Inc 1,122.43 01/10/2003 1,169.85 11/04/2002 (47.42) 000 123.00 Pinnacle Systems Inc 1,533.99 01/10/2003 1,657.19 11/11/2002 (123.20) 0.00 102.00 Pharmaceutical Prod Dev 3,026.21 01/10/2003 3,134.56 11/07/2002 (108.35) 000 71.00 Taro Pharmaceutical Indus. ADR 2,451.63 01/1012003 2,289.11 09/1912002 16252 0.00 9.00 Taro Pharmaceutical Indus. ADR 310.77 0111012003 290.60 09/24/2002 20 17 0.00 96.00 United Therapeutics 1,510.19 01/10/2003 1,642.67 09/20/2002 (132.48) 0.00 98.00 United Therapeutics 1,54165 Ol1lOt2OO3 1,610.32 09/27/2002 (68.67) 0.00 15.00 United Therapeutics 23597 01/10/2003 244.44 09/3012002 (8.47) 000 56.00 United Therapeutics 880.94 01/10/2003 92372 10102/2002 (42.78) 0.00 64.00 Eon Labs Inc 1,263.96 01/1312003 1,306.75 09/10/2002 (42.79) 000 82.00 Eon Labs Inc 1,619.45 01/13/2003 1,716.50 09/11/2002 (97.05) 0.00 165.00 Genesis Ncrochip Inc. ADR 2,844.69 01/1312003 2,059.07 10(18/2002 785.62 0.00 277-00 Gcnmis MicrocWp Inc. ADR 465.49 01113r2003 412.33 1 VO-Ir2002 53.16 000 0 0

Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 12 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Descrit)tion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

233 .00 Interdigital Comm Corp 3,422.66 01/13/2003 4,48695 11/2912002 (1,06429) 0.00 28 .00 41dds Entertainment Inc 590 .04 01/13/2003 798.98 11/0412002 (20894) 0.00 46.00 41dds Entertainment Inc 969 .36 01/13/2003 1,312.87 11/05/2002 (343 .51) 000 46.00 4ldds Entertainment Inc 96936 01/1312003 1,329.59 11/0V2002 (360.23) 0.00 54.00 4ldds Entertamment Inc 1,13794 01/13/2003 1,550.12 11/08/2002 (412.18) 0.00 25 .00 Lexar Media Inc. 139 .78 01/13/2003 103 .75 07/22/2002 3603 000 6.00 Lexar Media Inc. 33 .55 01/13/2003 25.40 07/2412002 8.15 000 63.00 Lexar Media Inc. 35225 01/13/2003 25993 07/25/2002 92.32 0.00 306.00 Lexar Media Inc. 1,71091 01/13/2003 1,274.18 09/17/2002 436.73 0.00 56.00 Leapfrog Enterprises Inc 1,43585 01/13/2003 1,36865 10/2412002 67 .20 0.00 52.00 Pharmaceutical Prod Dev 1,52838 01/13/2003 1,59801 11/07/2002 (69.63) 0.00 11 .00 Pharmaceutical Prod Dev 323 .31 01/13/2003 326.44 11/08/2002 (3.13) 000 154 .00 Pharmaceutical Prod Dev 4,526.35 01/13/2003 4,61892 11/18/2002 (92.57) 000 62.00 Pharmaceutical Prod Dev 1,822.30 01/13/2003 1,849.93 11/1912002 (27.63) 0.00 21 .00 Blue Rhino Corp. 35823 01/13/2003 361 83 10118/2002 (3.60) 0.00 124 .00 Blue Rhino Corp. 2,115 25 01/13/2003 2,222.08 11127/2002 (106.83) 000 83.00 Taro Pharmaceutical Indus. ADR 2,86099 01/13/2003 2,664.57 09/18/2002 196.42 0.00 73.00 Taro Pharmaceutical Indus. ADR 2,51629 01/1312003 2,353.59 09/19/2002 16270 000 29.00 United Therapeutics 450.64 01/1312003 47240 09/26/2002 (21.76) 000 85.00 United Therapeutics 1,32086 01/13/2003 1,385.14 09/30/2002 (64.28) 000 235.00 Interchgital Comm Corp 3,47923 01/14/2003 4,41100 11/27/2002 (931 .77) 0.00 8.00 Interdigital Comm Corp 118 .44 01/14/2003 15406 11129/2002 (35.62) 0.00 92.00 Interdigital Comm Corp 1,362.08 01/14/2003 1,574.50 12/09/2002 (212.42) 0.00 72.00 Interdigital Comm Corp 1,06598 01/14/2003 1,230.56 12/10/2002 (164.58) 000 621 .00 Lexar Media Inc 3,47836 01/14/2003 2,562.18 07/2512002 916.18 000 99.00 Leapfrog Enterprises Inc 2,53222 01/1412003 2,309.96 10/2312002 222 .26 0.00 29.00 Leapfrog Enterprises Inc 741 .76 01/14/2003 708.77 10124/2002 32 .99 000 123 .00 Proassurance Corp 2,558.76 01/1412003 2,599.35 12/20/2002 (40.59) 000 171.00 Blue Rhino Corp. 2,89007 01114/2003 2,946.33 10/1812002 (56.26) 0.00 204.00 Steris Corp 4,683.59 01/14/2003 4,999.51 09/30/2002 (315 .92) 0.00 51 .00 United Therapeutics 809.72 01/14/2003 805.84 09/24/2002 3.88 0.00 14.00 United Therapeutics 22227 01/14/2003 228.06 0912612002 (579) 0.00 19.00 United Therapeutics 301 .66 01/14/2003 30905 10/03/2002 (739) 0.00 65 .00 United Therapeutics 1,031.99 01/14/2003 1,05659 10104/2002 (24.60) 000 59.00 United Therapeutics 93673 01/14/2003 934.15 11/09/2002 2.58 000 179.00 Lexar Media Inc. 987 .49 01/15/2003 738.54 07/25/2002 24895 000 66.00 Pharmaceutical Prod Dev 1,805.87 01/15/2003 1,95862 11/0812002 (152.75) 000 28 .00 Pharmaceutical Prod Dev 766.13 01/15/2003 823.70 11/13/2002 (57 .57) 000 75.00 Proassurance Corp 1,550.31 01/15/2003 1,594.97 12120/2002 (34.66) 000 107 .00 Proassurance Corp 2,211.77 01/1512003 2,259.71 l2f2312002 (47 .94) 000 126 .00 Pharmaceutical Prod Dev 3,362.52 01/1612003 3,706.64 11/1312002 (344.12) 000 38 .00 Blue Rhino Corp. 604.66 01/16/2003 654.74 10118/2002 (5008) 000 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 13 Gains and Loss Reportfrom 1110.112002 to 1013112003 Account. 06057070 -- RHD FOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

45.00 Blue Rhino Corp . 71604 01/16/2003 773.13 10/24/2002 (57 .09) 000 309 .00 Cree hic. 5,78746 01/17/2003 5,882.90 11/0412002 (95 .44) 000 112 .00 Cree Inc. 2,09772 01/17/2003 2,069.20 11/05/2002 2852 0.00 153 .00 Cree Inc. 2,865.63 01/17/2003 2,923.51 11/13/2002 (57 .88) 000 204.00 Cree Inc. 3,82084 01/17/2003 4,56062 11/18/2002 (739 .78) 000 77.00 Cree Inc. 1,442.18 01/17/2003 1,613.15 11/19/2002 (17097) 0.00 18.00 Cree Inc. 337 .13 01/17/2003 421 07 11/25/2002 (83 .94) 000 99.00 Cree Inc. 1,854.23 01/17/2003 2,320.07 11/2612002 (465 .84) 000 132.00 Cree Inc. 2,472.31 01117/2003 2,51661 12/09/2002 (4430) 0.00 19.00 Genesis Microchip Inc. ADR 28246 01/17/2003 224.07 10/17/2002 5839 000 111.00 Genesis Microchip Inc. ADR 1,65016 01/17/2003 1,385.19 1 Ot 18/2002 26497 000 65 .00 Pharmaceutical Prod Dev 1,74003 01/17/2003 1,895.66 11/11/2002 (155 .63) 000 74.00 Ameritrade Holding Corp. 40645 01/21/2003 402.75 11/25/2002 3.70 000 776.00 Ameritrade Holding Corp. 4,262.28 01/21/2003 4,741 .28 01/0612003 (479 .00) 000 43.00 Cree Inc. 775 .94 01/21/2003 79443 11/05/2002 (18 .49) 0.00 257 .00 Genesis Microchip Inc. ADR 3,838.25 01/2112003 3,030.85 10/17/2002 807.40 0.00 46.00 4ldds Entertaimnent Inc 94422 01/2112003 1,312.61 11/0412002 (368 .39) 000 12 .00 Pharmaceutical Prod Dev 319 .91 01/21/2003 349.97 11/1112002 (30 .06) 000 67.00 Ameritrade Holftg Corp. 341 .32 01/22/2003 336.52 11/04/2002 4.80 0.00 380 .00 Ameritrade Holding Corp. 1,935.85 01/2212003 1,919.95 11/06/2002 1590 0.00 401 .00 Ameritrade Holding Corp. 2,042.83 01/2212003 2,069.64 11/19/2002 (26 .81) 0.00 63.00 Ameritrade Holding Corp. 320 .94 01/22/2003 338 .34 11120/2002 (17 .40) 0.00 439.00 Ameritrade Holding Corp. 2,236.41 0112212003 2,389.30 11125/2002 (152 .89) 000 86.00 Eon Labs Inc 1,744.80 01/22/2003 1,755.95 09/10/2002 (11 .15) 000 20.00 Headwaters Inc 294.10 01/22/2003 363 .21 05/0612002 (69 .11) 0.00 125 .OD Headwaters Inc 1,838 11 01/2212003 2,234.48 05/07/2002 (396 .37) 000 160.00 Headwaters Inc 2,352.77 01/22/2003 2,863.18 05/08/2002 (51041) 000 45.00 Imation Corp 1,635.10 01/22/2003 1,633.11 lQtl7/2002 1.99 0.00 60.00 Imation Corp 2,180.13 01/22/2003 2,290.64 1 W312002 (110 .51) 0.00 9.00 Imation Corp 327.02 01/22/2003 367.06 10/30/2002 (40 .04) 000 73 .00 4ldds Entertainment Inc 1,464.79 01/22/2003 1,965.32 10/29/2002 (500.53) 0.00 7.00 41nds Entertainment Inc 140-46 01/2212003 199 .74 11/0412002 (59.28) 0.00 146.00 Uxar Media Inc. 668 .41 01/22/2003 602.38 07/25/2002 66.03 0.00 64.00 Lexar Media Inc. 293 .00 01/22/2003 263.40 09/13/2002 2960 0.00 428 .00 Lexar Media Inc. 1,959.45 01/2212003 1,762.85 09/16/2002 19660 000 190.00 Openwave Systems Inc 309 .92 01122/2003 591 .86 11/29/2002 (281 .94) 0.00 381 .00 Openwave Systems Inc 621 .47 01/22/2003 1,220.34 1210212002 (598 .87) 0.00 585.00 Openwave Systems Inc 954.22 01/22/2003 1,649.41 12/03/2002 (695 .19) 0.00 186 .00 Ameritrade Holding Corp. 960.86 01/23/2003 927.94 10/2&2002 32 .92 0.00 390.00 Ameritrade Holding Corp. 2,014.72 01123/2003 1,958.85 11/04/2002 55.87 0.00 111.00 Ameritrade Holding Corp. 573 .42 01/23/2003 542.88 11/05/2002 30.54 0.00 288 .00 Ameritrade Holding Corp. 1,A87.79 oin-1120n3 1,424.7! 11107r-002 63.08 A-00

40 0 0 40 0 0 41 9 0 40 0 0 0 0 0

Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 14 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Less) Pren-dum Discount)

4.00 4kids Entertainment Inc 78.87 01123/2003 107 .69 10/29/2002 (28 .82) 000 2000 Openwave Systems Inc 30.75 01/23/2003 5639 12/03/2002 (25 .64) 000 87 .00 Openwave Systems Inc 133 .76 01123/2003 222.81 12/11/2002 (89 .05) 0.00 499.00 Openwave Systems Inc 767.20 01/23/2003 1,272.96 12/12/2002 (505 .76) 0.00 258 .00 Openwave Systems Inc 39667 01/23/2003 602.99 12/27/2002 (206.32) 0.00 123 .00 Ameritrade Holding Corp. 62952 01/24/2003 578.97 10129/2002 50.55 0.00 108 .00 Ameritrade Holding Corp. 552.75 01/24/2003 511 .25 11/01/2002 41 .50 000 235 .00 Ameritrade Holding Corp. 1,202.74 01/24/2003 1,149.34 11/05/2002 53.40 000 436.00 Ameritrade Holding Corp 2,231 .46 01/24/2003 2,117.78 11/08/2002 113 .68 000 143 .00 Ameritrade Holding Corp. 726.48 01127/2003 673 12 10129/2002 5336 0.00 126 .00 Avid Technology Inc. 2,46643 01/27/2003 2,90645 12/23/2002 (44002) 0.00 85 .00 Activcard Corp 633 .29 01/28/2003 793 18 11/25/2002 (159 .89) 0.00 68.00 Activcard Corp 506.63 01/28/2003 631 .50 11/29/2002 (12487) 0.00 14 .00 Federal Agric Mtg Corp Cl C 372.07 01/28/2003 507 .85 01/07/2003 (135 .78) 0.00 241 .00 Ameritrade Holding Corp. 1,208.58 01/28/2003 1,134.41 10129/2002 74 .17 0.00 146 .00 Ameritrade Holding Corp 732.17 01/28/2003 683 .88 10130t2002 48.29 0.00 54.00 Ameritrade Holding Corp. 27080 01/28/2003 249.49 10/3112002 21 .31 000 45.00 Avid Technology Inc. 853.92 01/28/2003 943 .21 12/18/2002 (8929) 000 27.00 Avid Technology Inc. 512.35 01/28/2003 622.81 12123/2002 (110.46) 0.00 160 .00 Digital River Inc. 1,919.28 01128/2003 2,365.82 12/0212002 (446.54) 0.00 97.00 Interdigital Comm Corp 1,194.25 01/2&-2003 1,549.52 11/ 1 &'2002 (355 .27) 000 196 .00 Interdigital Comm Corp 2,413.12 01/28/2003 3,349.86 12/10/2002 (93674) 000 153 .00 Imation Corp 5,230.13 01/28/2003 5,503.39 10/15/2002 (273 .26) 0.00 77.00 Imation Corp 2,632.16 01/28/2003 2,794.43 10/17/2002 (162.27) 0.00 2.00 Neoware Systems Inc 3056 01/28/2003 40.18 11/25/2002 (9.62) 0.00 86 .00 Neoware Systems Inc 1,31388 01/28/2003 1,736.34 1112912002 (422.46) 000 7200 Panera Bread Company 2,211.83 01/28/2003 2,60586 12/1V2002 (394.03) 000 5500 Avid Technology Inc. 1,047.26 01/29/2003 1,152.82 12/18/2002 (105 .56) 000 69.00 Interdigital Comm Corp 848.98 01/2912003 1,049.12 11/0812002 (200.14) 0.00 63.00 Interdigital Comm Corp 775 .16 01/29/2003 1,00639 11/1912002 (231 .23) 000 6.00 Neoware Systems Inc 89.89 01/29/2003 120.54 11/25/2002 (30.65) 000 95.00 Neoware Systems Inc 1.423 .27 01129/2003 1,77980 12/0212002 (356.53) 000 241 .00 Digital River Inc. 2,99382 01/3012003 3,514.09 11/2512002 (520.27) 000 37.00 Digital River Inc. 45963 01/30/2003 547 .10 12102/2002 (87 .47) 0.00 72.00 Panera. Bread Company 2,146.75 01/30/2003 2,60586 12/1812002 (459.11) 000 114 .00 Scios Inc. 3,551.77 01/30/2003 3,895.32 12/2612002 (34355) 0.00 79.00 Scios Inc. 2,461.31 01/30(2003 2,77020 01/0612003 (30889) 000 94.00 Scios Inc. 2,928.65 01/30/2003 3,383.53 01/13/2003 (45488) 0.00 145.00 Scios Inc. 4,517.60 01/30/2003 5,293.37 01/14/2003 (775 .77) 0.00 108-00 Federal Agric Mtg Corp C1 C 2,816.07 01/31/2003 3,917.70 01/07/2003 (1,10163) 0.00 158.00 Anteon International Corp 3,523.45 01/3112003 4,332.77 10111/2002 (809.32) 0.00 68.00 Digital River Inc. 825 .44 01/31/2003 991 .53 11/25/2002 (166.09) 0.00 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 15 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Descrintion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

155.00 Digital River Inc. 1,881.52 01/31/2003 2,238.20 11/27/2002 (35668) 0.00 34.00 Digital River Inc. 412.72 01/31/2003 493.34 11129/2002 (8062) 000 78 .00 lcos Corporation 1,908.96 01/31/2003 2,483.52 11/29/2002 (574 .56) 000 9.00 lcos Corporation 220.26 01/31/2003 286.38 12/O2J2002 (66 12) 0.00 35 .00 Interdigital Comm Corp 419.76 01/31/2003 525 .29 11/07/2002 (105 .53) 0.00 11 .00 Interdigital Comm Corp 131 .92 01/31/2003 167 .25 11/0812002 (3533) 000 135 .00 Interdigital Comm Corp 1,619.06 01/31/2003 2,049.89 11/19/2002 (43083) 0.00 154 .00 Legato, Systems Inc 776.13 01/31/2003 931.65 11/21/2002 (15552) 0.00 114 .00 Scios Inc. 3,713.71 01/31/2003 3,8".43 12/17/2002 (130 .72) 0.00 8.00 Scios Inc. 260.61 01/3112003 267 .60 12118/2002 (6.99) 0.00 23.00 Scios Inc. 74926 01/31/2003 785.90 12/2612002 (36 .64) 0.00 49.00 United Therapeutics 74907 01/31/2003 774.24 09/24/2002 (25 .17) 0.00 61 .00 Activcard Corp 446.75 02/03/2003 561 .30 11/26/2002 (114 .55) 000 24.00 Activcard Corp 175 .77 02/03/2003 222.88 11/29/2002 (47 .11) 0.00 77.00 Activcard Corp 563.93 02103/2003 709.63 12/0212002 (145 .70) 0.00 170 .00 Federal Agric Mtg Corp Cl C 4,309.04 02/03/2003 6,166.75 01/07/2003 (1,857 .71) 0.00 77.00 Interdigital Comm Corp 931 .03 02/03/2003 1,155.64 11/0712002 (224 .61) 0.00 53.00 United Therapeutics 794.25 02/03/2003 837.44 09/24/2002 (43 .19) 0.00 103.00 United Therapeutics 1,543.54 02/03/2003 1,606.15 11/11/2002 (6261) 0.00 111 .00 Federal Agric Mtg Corp Cl C 2,836.26 02/04/2003 4,026.52 01/07/2003 (1,190.26) 0.00 72.00 Interdigital Comm Corp 855.56 02/04/2003 1,08060 11/07/2002 (225.04) 0.00 502.00 Select Comfort Corp. 5,417.17 02/04/2003 5,654.88 01/07/2003 (237.71) 0.00 114.00 Select Comfort Corp. 1,230.19 02/0412003 1,310.27 01/09/2003 (8008) 0.00 233 .00 Select Comfort Corp. 2,514.34 02/04/2003 2,695.04 01/1012003 (180.70) 0.00 77 .00 Select Comfort Corp. 830.92 02/04/2003 898.74 01/13/2003 (67.82) 0.00 12.00 Select Comfort Corp. 129.49 02/0412003 131 .67 01/14/2003 (2.18) 000 62.00 Federal Agric Mtg Corp CI C 1,569.66 02/05/2003 2,249.05 01/07/2003 (679.39) 000 68 .00 lcos Corporation 1,586.57 0210512003 2,163.76 12/02/2002 (577 .19) 000 78.00 1cos Corporation 1,819.89 02/05/2003 2,399.28 12/04/2002 (579.39) 0.00 30.00 lcos Corporation 699.96 02/05/2003 892.86 12/10/2002 (192.90) 0.00 94.00 tnterdigital Comm Corp 1,129.94 02105/2003 1,324.46 11/0612002 (19452) 0.00 2.00 Interdigital Comm Corp 24.04 02/0512003 30.02 11/07/2002 (5.98) 0.00 110.00 Safenet hic. 2,471.73 02/05/2003 3,311.21 01/10/2003 (839 .48) 000 67.00 Saferiet Inc. 1,505.51 02/05/2003 2,119.78 01/14/2003 (614.27) 000 15 .00 Cti Molecular Imaging Inc 342 .66 02tO6t2OO3 331 .06 08/26t2002 11 .60 0.00 65.00 Cti Molecular Imaging Inc 1,484.86 02/06t2003 1,43801 09/03/2002 46.85 0.00 49.00 Cti Molecular Imaging Inc 1,119.36 02/06t2OO3 1,135.92 09/0412002 (16 .56) 0.00 85.00 Cu Molecular Imaging Inc 1,941 .74 02/0612003 1,964.92 09/11/2002 (23 .18) 0.00 106 .00 Cti Molecular Imaging Inc 2,421 .46 02/06/2003 2,444.69 09/12t2002 (23 .23) 0.00 27.00 Interdigital Comm Corp 322.10 0210612003 371 .35 11/05/2002 (49 .25) 000 69.00 Interdigital Comm Corp 823.14 02/06t2003 972.21 11/06/2002 (149 .07) 0.00 188 .00 Cti Molecular Imaging Inc 4,104.98 02/07/2003 4.149 .27 08/26(2002 (44 .29) 0.00

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Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 16 Gains and Loss Reportfirom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss Premium Discount)

18 .00 Blue Rhino Corp. 19291 02/07/2003 309.25 10/24/2002 (116.34) 0.00 243 .00 Blue Rhino Corp. 2,604.32 02/07/2003 4,173.74 10/28/2002 (1,569 .42) 0.00 45 .00 Cti Molecular Imaging Inc 973.84 02/10/2003 980.17 O&W2002 93.67 0.00 398 .00 Cti Molecular Imaging Inc 8,613.09 02/10/2003 8,47390 08/21/2002 139-19 0.00 2.00 Cti Molecular Imaging Inc 43 .28 02/10/2003 42.98 08/23/2002 0.30 0.00 10.00 Ca Molecular Imaging Inc 216.41 02/10/2003 22071 08/2612002 (4.30) 0.00 8.00 Pacific Sunwear Cal 134.99 02/1012003 150 .34 12t12/2002 (15 .35) 0.00 232.00 Pacific Sunwear Cal 3,91463 02/10/2003 4,546.93 12/16/2002 (632.30) 0.00 109.00 Pacific Sunwear Cal 1,839.20 02/10/2003 2,110.09 01/10/2003 (27089) 000 35 .00 Scios Inc. 1,530.70 02/10/2003 1,14940 12/12/2002 381 .30 000 61 .00 Scios Inc. 2,667.78 02110t2003 2,040.45 12/1 &2002 627 .33 000 217 .00 Espeed Inc CI A 2,78990 02/11/2003 4,05169 12/17/2002 (1,26179) 0.00 185.00 Interdigital Comm Corp 2,245.89 02/11/2003 2,480.39 11/0412002 (234.50) 0.00 159-00 Interdigital Comm Corp 1,930.25 02111/2003 2,18685 11/05/2002 (256.60) 0.00 154.00 Scios Inc. 6,72445 02/11/2003 5,052.91 12/10/2002 1,671.54 0.00 42.00 Scios Inc. 1,833.94 02/11/2003 1,379.28 12/12/2002 454.66 0.00 106.00 Espeed Inc CI A 1,220.70 02/12/2003 1,97917 12/17/2002 (758.47) 0.00 68.00 Medicines Company 1,193.69 02/12/2003 1,24440 01/15/2003 (5071) 000 180.00 Medicines Company 3,159.78 02/1212003 3,355.92 01/1612003 (196.14) 000 6600 SurModics Inc. 1,76429 02/1212003 2,270.02 1010212002 (505 .73) 000 75 .00 SurModics Inc. 2,004.87 02/12/2003 2,737.05 11/1812002 (732 18) 000 8.00 Activcard Corp 5940 02113/2003 73 .61 1 1/262002 (14 .21) 0.00 92.00 Activcard Corp 683.05 02/13/2003 84548 11/27/2002 (16243) 000 31 .00 Activcard Corp 230.16 O21l3t2OO3 265 .83 12110f2002 (35 .67) 000 6200 Activcard Corp 460.32 02/13/2003 554.13 12/1112002 (93 .81) 000 88.00 Activcard Corp 653.35 02113/2003 800.17 12/1=002 (14682) 000 7200 Espeed Inc CI A 817.71 02/13/2003 1,34434 12/17/2002 (526 .63) 000 74.00 Medicines Company 1,29509 02/13/2003 1,310.86 01/13/2003 (15 .77) 000 22.00 Medicines Company 38503 02/13/2003 397 .22 01/14/2003 (12 .19) 000 4.00 Medicines Company 70.01 02/13/2003 7228 01/15/2003 (2.27) 0.00 12.00 Medicines Company 21002 02/13/2003 219 .60 01/15/2003 (958) 000 1.00 Espeed Inc CI A 1145 02/14/2003 1867 12/17/2002 (7.22) 0.00 160.00 Espeed Inc Cl A 1,832.45 02/14/2003 2,963.36 01/06/2003 (1,13091) 0.00 1800 Espeed Inc Cl A 206.15 02/14/2003 333 .24 01/07/2003 (127 .09) 000 146.00 Gen-probe Inc 3,534.51 02/W2003 3,963.86 01/17/2003 (429 .35) 0.00 83 .00 Gen-probe Inc 2,00934 02/14/2003 2,29240 01/30/2003 (28306) 0.00 94.00 Medicines Company 1,44835 02/14/2003 1,488.00 01/13/2003 (39 .65) 0.00 37 .00 SurModics Inc. 958.17 02/14/2003 1,176.60 09/3012002 (218 .43) 000 26-00 SurModics Inc. 67331 02/1412003 894.25 10/02/2002 (22094) 000 27-00 SurModics Inc. 699.21 02/14/2003 894.10 01/17/2003 (194 .89) 0.00 101 .00 SurModics Inc. 2,615.56 02/1412003 3,419.00 01/22/2003 (80344) 0.00 185 .00 Allen Telecom Inc. 2,569.79 02/18/2003 2,516.22 01/14/2003 53 .57 0.00 Dyiehaus Capital Management Friday January 23, 2004 16:54:16 Page 17 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purchase Realized Unamortized Bond Quantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

123 .00 Allen Telecom Inc. 1,708.57 02/1 W2003 1,666.26 01/15/2003 42.31 0.00 94.00 Allen Telecom Inc. 1,305.73 02/18/2003 1,250.34 02107/2003 55 .39 000 20.00 Anteon International Corp 442.57 0211812003 548.45 1 Qtl 112002 (105 .88) 000 66-00 Anteon International Corp 1,460.49 02/18/2003 1,80807 10/1412002 (347 .58) 0.00 242.00 Gen-probe Inc 5,92018 02/18/2003 5,84854 12/31/2002 71 .64 0.00 33.00 Gen-probe Inc 807 .30 02/18n003 895.94 01/17/2003 (88.64) 0.00 208-00 Leapfrog Enterprises Inc 3,927.19 02/18/2003 4,853.24 10123/2002 (926.05) 0.00 52-00 Medicines Company 925 .28 02/18/2003 921 .14 01/13/2003 4.14 0.00 27.00 Medicines Company 480.43 02/18/2003 476.84 01/17/2003 359 000 98.00 Medicines Company 1,743.80 02/18/2003 1,735.06 01/21/2003 874 0.00 30.00 Pacific Sunwear Cal 529 .03 02118/2003 55143 12/1012002 (22.40) 000 92.00 Pacific Sunwear Cal 1,622.37 02/18/2003 1,728.92 12112/2002 (106.55) 000 46.00 Blue Rhino Corp. 452.35 02/18/2003 790.09 10/28/2002 (337.74) 000 66.00 Select Comfort Corp 609.82 02/18/2003 724.20 01/14/2003 (11438) 000 46.00 Safenet Inc. 1,052.36 02/18/2003 1,306.09 11/27/2002 (25373) 0.00 52.00 Safenet Inc. 1,189.62 02/18/2003 1,412.84 12/18/2002 (223 .22) 0.00 7.00 Safenet Inc. 160.14 02/18/2003 210.71 01/10/2003 (5057) 0.00 65.00 SurModics Inc. 1,687.41 02/18/2003 2,067.00 09/30/2002 (379 .59) 0.00 8.00 SurModics Inc. 20768 02118/2003 248.31 10/04/2002 (4063) 0.00 214.00 Allen Telecom Inc. 2,797.00 02/19/2003 2,84652 02/07/2003 (49 .52) 0.00 108 .00 Anteon International Corp 2,345.59 02/19/2003 2,95866 lGtl4/2002 (61307) 0.00 63.00 Medicines Company 1,10281 02/19/2003 1,059.35 11/2512002 43 .46 0.00 3.00 Medicines Company 52.51 02119/2003 49.74 1112612002 2.77 0.00 25.00 Medicines Company 43762 02/19/2003 441 .52 01/1712003 (3.90) 0.00 16 .00 Pacific Sunwear Cal 289.79 02/19/2003 28489 11/27/2002 4.90 0.00 97.00 Pacific Sunwear Cal 1,756.82 02/19/2003 1,78297 12/10/2002 (2615) 000 28.00 Blue Rhino Corp. 26266 02/19/2003 480.93 10128/2002 (218 .27) 0.00 187.00 Blue Rhino Corp. 1,75417 02/19/2003 2,856.87 10/29/2002 (1,102 .70) 0.00 86.00 Select Comfort Corp 785 .16 02/19/2003 943.66 01/1412003 (158 .50) 000 12.00 SurModics Inc. 310.12 02/19/2003 352.01 08/09/2002 (41 .89) 0.00 34.00 SarModics Inc. 878.67 02/19/2003 970.57 08/12/2002 (91 .90) 0.00 108 .00 SurModics Inc. 2,791.06 02/19/2003 3,352.15 1010412002 (561 .09) 000 63.00 Anteon International Corp 1,388.39 02/20/2003 1,624.59 10/08/2002 (236 .20) 000 30.00 Anteon International Corp 661 .14 02t2O/2003 821 .85 10114/2002 (160 .71) 000 117.00 Select Comfort Corp. 1,065.26 02/20/2003 1,28382 01/14/2003 (218 .56) 0.00 46.00 SurModics Inc. 1,189.06 02/20/2003 1,313.13 08/12/2002 (124 .07) 000 145.00 Lendingtree Inc. 1,541.33 02/20/2003 2,287.81 09/09/2002 (746 .48) 000 29.00 Anteon International Corp 647 .98 02/21/2003 74783 10/08/2002 (99 .85) 000 11.00 Espeed Inc CI A 127 .38 02/21/2003 19535 12/20/2002 (67 .97) 000 3.00 Espeed Inc Cl A 34.74 02/21/2003 53.27 12123/2002 (18 .53) 0.00 110.00 Espeed Inc Cl A 1,273.82 02121/2003 2,036.47 01/07/2003 (762 .65) 0.00 214.00 Lexar Media Inc. 877.99 02/21/2003 880.76 09/1312002 (2 .77) 0.00

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Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 18 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss Pren-dum Discount 6.00 Lexar Mecha Inc. 24.62 02/21/2003 24.43 09/25/2002 0.19 0.00 160.00 Select Comfort Corp 1,425.13 0212V2003 1,755.65 01/142003 (330.52) 000 17.00 Safenet Inc. 311.67 02121/2003 45941 11/2612002 (147.74) 000 36.00 Safenet Inc. 660.01 02/21/2003 978 12 1211812002 (318.11) 0.00 22.00 Lendingtree Inc 237.40 02/21/2003 347 12 09/09/2002 (10972) 0.00 65.00 Lendingtree Inc. 701.41 02/21f2003 1,015.18 091l7f2002 (31377) 000 13.00 Biosite Diagnostic Inc 41663 02r2412003 50699 01/15/2003 (90.36) 0.00 16.00 Espeed Inc Cl A 18727 02/2412003 294.13 12/23/2002 (9686) 0.00 83.00 Lexar Media Inc. 319.65 02124/2003 327.35 09/24/2002 (7.70) 000 353.00 Lexar Media Inc. 1,359.46 02/24/2003 1,437.17 09/25/2002 (77.71) 000 69.00 Select Comfort Corp. 615.45 02/24/2003 748.79 01/0&'2003 (13334) 0.00 13.00 Select Comfort Corp. 115.96 0212412003 14265 01/1412003 (26.69) 0.00 61.00 Safenet Inc. 1,090.64 02/24/2003 1,648.48 11/2612002 (557.84) 0.00 155.00 Sina Corp 1,107.42 02/24/2003 1,469-40 01/13/2003 (361.98) 000 30.00 Sina Corp 214.34 02124/2003 27180 01/1412003 (57.46) 0.00 59-00 United Online Inc 867.38 02(24f2003 1,005.84 12/12f2OO2 (138.46) 0.00 102.00 Advanced Neuromodulation Sys. 3,685.14 02125/2003 4,040.79 02/03/2003 (355.65) 0.00 2.00 American Pharmaceutical Part 41.53 02/25/2003 50.98 01/2812003 (945) 0.00 213.00 American Pharmaceutical Part 4,423.00 02125/2003 5,612.44 01/29/2003 (1,189.44) 0.00 53.00 American Pharmaceutical Part 1,100.56 02/25/2003 1,445.53 01/30/2003 (344.97) 0.00 21 .00 Eon Labs Inc 454.31 02125/2003 428.78 09/10/2002 25.53 0.00 83.00 Son Ubs Inc 1,795.60 02/25/2003 1,66507 09/12t2OO2 13053 0.00 82.00 Espeed Inc CI A 882.65 02/25/2003 1,456.16 12/2312002 (573.51) 0.00 109.00 Gen-probe Inc 2,672.55 02/25/2003 2,347.83 11/13/2002 324.72 0.00 6.00 Gen-probe Inc 147.11 02125/2003 145.01 12131/2002 210 0.00 248.00 Sma Corp 1,721.07 02/25/2003 1,412.11 1210212002 30896 0.00 229.00 Sina Corp 1,589.21 02/25/2003 2,074.76 01/14/2003 (485.55) 0.00 306.00 Sina Corp 2,12357 02/25/2003 2,746.47 01/27/2003 (62290) 0.00 57-00 Espeed Inc Cl A 619.14 0212612003 1,00007 12/16/2002 (380.93) 0.00 59-00 Espeed Inc Cl A 640.87 02/2612003 1,013.87 12/19/2002 (373.00) 0.00 16.00 Espeed Inc CI A 173.79 02/26/2003 284.13 12/23/2002 (11034) 0.00 26.00 Espeed Inc Cl A 282.42 02126/2003 455.85 01/02/2003 (173.43) 0.00 3.00 Gen-probe Inc 73.86 02/26t2OO3 6216 10/28/2002 11.70 000 97.00 Gen-probe Inc 2,38806 02/26/2003 2,089.35 11/13/2002 29871 000 208-00 Riverstone Networks Inc 336.70 02/26/2003 612.93 1210212002 (276.23) 000 135.00 Select Comfort Corp. 1,191.81 02/2612003 1,429.30 01/062003 (237.49) 0.00 159.00 Select Comfort Corp. 1,403.69 0212612003 1,725.48 01/08/2003 (321 .79) 0.00 137.00 Sina Corp 931.67 02/26t2OO3 780.08 12/0212002 151.59 000 98.00 Biosite Diagnostic Inc 3,078.69 02127/2003 3,821.95 01/15/2003 (74326) 0.00 168.00 Riverstone Networks Inc 250.20 02127/2003 495.06 12/02/2002 (244.86) 0.00 149.00 Riverstone Networks Inc 221.90 02/27/2003 400.74 12/03/2002 (178.84) 0.00 53-00 Safenet Inc. 872.32 02/27/2003 1,432.29 11126/2002 (559.97) 0.00 Driehaus Capitd Management Friday January 23, 2004 16:54:16 Page 19 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Descriz)tion Proceeds Date cost Date Gain (- L4)ss) Premium Discount) 89 .00 Safenet Inc. 1,464.84 02/27/2003 2,312.87 12/0212002 (848 .03) 0.00 79.00 Trex Corp 2,639.56 02127/2003 3,044.63 12/23/2002 (405 .07) 0.00 56.00 Trex Corp 1,871.08 02/27/2003 2,094.03 01/14/2003 (222.95) 0.00 36.00 United Online Inc 510.86 02/27/2003 613.74 12/12/2002 (102.88) 0.00 55.00 United Online Inc 780.49 02/27/2003 926.17 12/23/2002 (145 .68) 0.00 165 .00 American Pharmaceutical Part 3,070.42 02/2&'2003 4,151 .93 01/2212003 (1,081 .51) 0.00 73.00 American Pharmaceutical Part 1,35843 02J28/2003 1,860.83 01/28/2003 (502 .40) 000 44.00 American Pharmaceutical Part 81878 02128/2003 1,065.20 02118/2003 (246.42) 0.00 195.00 American Pharmaceutical Part 3,628.68 02/28/2003 4,835.10 02/19/2003 (1,206.42) 0.00 115.00 Biosite Diagnostic Inc 3,592.72 02/28/2003 4,484.94 01/15/2003 (892.22) 0.00 2.00 Espeed Inc Cl A 20.55 02/28/2003 21 .71 10/04/2002 (1.16) 0.00 208.00 Espeed Inc Cl A 2,136.98 02128/2003 3,555.01 12/12/2002 (1,418 .03) 0.00 52.00 Espeed Inc Cl A 534.25 02/2&'2003 893.58 12/19/2002 (359 .33) 0.00 376.00 Riverstone Networks Inc 518.02 02/2&'2003 948.74 11/2912002 (430.72) 0.00 160 .00 Riverstone Networks Inc 220.43 02/2812003 430-32 12/03/2002 (209 .89) 0.00 38.00 United Online Inc 535.58 02/29/2003 634.60 12/11/2002 (99.02) 0.00 121 .00 United Online Inc 1,705.41 02/28/2003 2,037.57 12/23/2002 (332.16) 0.00 166 .00 United Online Inc 2,331.63 03/03/2003 2,760.91 11/25/2002 (429.28) 0.00 52.00 United Online Inc 730.39 03/03/2003 868 .40 12/1112002 (13801) 0.00 171 .00 Ultra Petroleum Corp ADR 1,504.63 03/03/2003 1,682.40 12109/2002 (177 .77) 0.00 368.00 Ultra Petroleum Corp ADR 3,238.04 03/03/2003 3,663.55 12/31/2002 (42551) 0.00 191 .00 Ultra Petroleum Corp ADR 1,680.61 03/03/2003 1,914.34 01/02/2003 (23373) 0.00 88.00 Ultra Petroleum Corp ADR 774.31 03/03/2003 895 .58 01/17/2003 (121 .27) 0.00 58.00 Lendingtree Inc. 574.37 03/04/2003 893 .12 09/11/2002 (31875) 0.00 43.00 Lendingtree Inc. 425.82 03/04/2003 671 .58 09/17/2002 (24576) 0.00 130.00 Lendingtree Inc. 1,287.38 03/0412003 1,978.48 09/18f2002 (691 .10) 0.00 2.00 Trex Corp 62.19 03/04/2003 71.98 12/18/2002 (9.79) 0.00 45.00 Trex Corp 1,399.32 03/04/2003 1,667.15 0111012003 (267 .83) 0.00 1.00 Trex Corp 31 .10 03/04/2003 37 .39 01/14/2003 (6.29) 0.00 18.00 United Online Inc 246.40 03/04/2003 299 .38 11/25/2002 (52.98) 0.00 49.00 United Online Inc 670.74 03/04/2003 811 .78 11/2712002 (141 .04) 000 111.00 United Online Inc 1,519.44 03/04/2003 1,792.72 12/18/2002 (27328) 000 99.00 Ultra Petroleum Corp ADR 873.78 03/04/2003 803 .17 03/13/2002 70.61 0.00 62.00 Ultra Petroleum Corp ADR 547.22 03/04/2003 609.99 12/09/2002 (62.77) 0.00 185.00 Ultra Petroleum Corp ADR 1,632.83 03/0412003 1,805.41 12/1012002 (172.58) 0.00 103.00 Chicds FAS Inc. 1,741 .83 03/05/2003 1,891 .83 04123/2002 (150.00) 0.00 300.00 Chico's FAS Inc. 5,073.29 03/05/2003 5,671 .95 05/08/2002 (598 .66) 000 1.00 Chicos FAS Inc. 16.91 03/05/2003 19 .61 05/13/2002 (2.70) 0.00 77 .00 Netscreen Technologies 1,468.83 03/05/2003 1,277.12 11/25/2002 191 .71 000 116.00 Netscreen Technologies 2,212.78 03/05/2003 1,904.37 11/262002 30841 0.00 i7l .00 Netscreen Technologies 5,169.52 03/05/2003 4,518.36 11/27/2002 651 .16 0.00 2200 Netscreen Technologies 419.67 03/0920003 384.27 01/0212003 35.40 000

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Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceed Date cost Date Gain (- Loss Premium Discount)

20.00 United Online Inc 27056 03/05/2003 295.80 11/13/2002 (2524) 0.00 16300 United Online Inc 2,205.06 03/05/2003 2,396.10 11/1812002 (191 .04) 0.00 100.00 United Online Inc 1,352.80 03/05/2003 1,615.06 12/1 W2002 (262,26) 000 142 .00 Ultra Petroleum Corp ADR 1,255.31 03/05/2003 1,152, .02 03/13/2002 10329 0.00 116 .00 Biosite Diagnostic Inc 3,724.63 03/06/2003 4 523 .94 01/15/2003 (79931) 0.00 63.00 Chicds FAS Inc. 1,06846 03/06/2003 1,157.14 04123/2002 (88 .68) 000 45.00 Espeed Inc Cl A 422.25 03/06/2003 480.20 08/2812002 (57 .95) 000 26.00 Espeed Inc Cl A 243.97 03/06/2003 28229 10/04/2002 (3832) 0.00 256.00 Lexar Media Inc 882.84 03/06(2003 994.07 08/22/2002 (111 .23) 0.00 46.00 Lexar Media Inc. 158.64 03/06/2003 180 .32 09123/2002 (21,68) 000 70.00 Lexar Media Inc. 241 .40 03/0612003 276.08 09/2412002 (34 .68) 0.00 14 .00 Martek Biosciences Corp 309.58 03/06/2003 406.30 03/21/2002 (96 .72) 0.00 26-00 Martek Biosciences Corp 57493 03/06/2003 689.41 01/07/2003 (11448) 0.00 256.00 Netscreen Technologies 4,761.99 03/06/2003 4,011 .21 11/18/2002 750.78 000 69.00 Netscreen Technologies 1,283.50 03/0612003 1,132.77 11/26/2002 150 .73 000 34.00 Trex Corp 1,02070 03/06/2003 1,203.90 12/10/2002 (18120) 0.00 82.00 Trex Corp 2,46169 03/0612003 2,921 .36 12/11/2002 (45967) 0.00 73-00 Trex Corp 2,191.51 03/06/2003 2,627.12 12/18/2002 (435 .61) 000 33.00 Trex Corp 99068 03/0612003 1,160.56 12130/2002 (169 .88) 0.00 202.00 Umted Online Inc 2,71948 03/0612003 2,954.88 11/07/2002 (235 .40) 000 115 .00 United Online Inc 1,54822 03/0612003 1,682-31 11/14/2002 (13409) 000 38.00 United Online Inc 511 .59 03/06/2003 558.60 11/18/2002 (47 .01) 000 120 .00 Ultra Petroleum Corp ADR 1,064.50 03/06/2003 973.54 03/1312002 90.96 000 380.00 Ultra Petroleum Corp ADR 3,37091 03/06/2003 3,078.00 03/15/2002 292 .91 000 191 .00 Espeed Inc CI A 1,825.44 03/07/2003 2,038.16 0&-28/2002 (21232) 000 187-00 Lexar Media Inc. 635.85 03/07/2003 706-39 0812112002 (7054) 0.00 73-00 Lexar Media Inc. 24822 03/07/2003 28347 08/22/2002 (3525) 0.00 75.00 Martek Biosciences Corp 1,635.69 03/07/2003 1,98867 01/07/2003 (352 .98) 000 138 .00 Trex Corp 4,184.33 03/0712003 4,735.48 11/27/2002 (551 .15) 000 21-00 Trex Corp 636.75 03/0712003 738-54 12/3012002 (101,79) 000 109-00 WebMethods Inc. 1,022.96 03/07/2003 1,337.83 01/23/2003 (314 .87) 000 321-00 WebMethods Inc. 3,01258 03/07r-)003 4,023.03 02/18/2003 (1,01045) 0.00 12 .00 Martek Biosciences Corp 263 .15 03/1012003 318.19 01/07/2003 (55 .04) 0.00 16-00 Trex Corp 477 .72 03/10/2003 54904 11/27/2002 (71 .32) 0.00 31-00 Trex Corp 925 .58 03/10/2003 1,059.74 12/02/2002 (134,16) 000 21 .00 Trex Corp 627 .01 03/1012003 71963 12/04/2002 (9262) 000 63.00 WebMethods Inc. 564.46 03/1012003 773.24 01/23/2003 (208 .78) 0.00 70.00 Espeed Inc Cl A 655 .43 03/1112003 74697 08/28/2002 (91 .54) 000 3600 Fspeed Inc Cl A 337 .08 03/11/2003 366.54 0912612002 (29,46) 000 94-00 Orasure Technologies Inc 557 .40 03/11/2003 790.54 02/03/2003 (233 .14) 0.00 134.00 WebMethods Inc. 1,213.13 03/1112003 1,644.68 01/23/2003 (431 .55) 0.00 57.00 WebMethods Inc. 516.03 03/11/2003 673.90 02112/2003 (157 .87) 0.00 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 21 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond Quantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount

160.00 Espeed Inc C1 A 1,513.63 03/1212003 1,62907 09126/2002 (115 .44) 000 109 .00 Gen-probe Inc 2,345.60 03/12/2003 2,258.58 10128/2002 87-02 0.00 244.00 Orasure Technologies Inc 1,429.79 03/1212003 2,05204 02/03/2003 (622 .25) 0.00 178 .00 WebMethods Inc. 1,585.22 03/12/2003 2,10446 02/12/2003 (519 .24) 000 100.00 Gen-probe Inc 2,231.84 03/13/2003 2,072.09 10/28/2002 159.75 0.00 403.00 Orasure Technologies Inc 2,415.06 03/13/2003 3,389.23 02/03/2003 (974 .17) 0.00 65.00 Legato Systems Inc 322.39 03/1412003 35673 11/20/2002 (34 .34) 0.00 45.00 Legato Systems Inc 223 .19 03/1412003 272.24 11/21/2002 (49 05) 0.00 284.00 Legato Systems Inc 1,408.59 03/1412003 1,657.11 11/25/2002 (248 .52) 0.00 280.00 1xgato Systems Inc 1,388.75 03/14/2003 1,598.69 11/2612002 (209 .94) 0.00 45.00 Orasure Technologies Inc 274.94 03/14/2003 378.45 02/03/2003 (103 .51) 0.00 144 .00 Orasure Technologies Inc 879 .81 03/14/2003 1,157.73 02/05/2003 (277 .92) 0.00 101 .00 WebMethods Inc. 947 .55 03/1412003 1,18611 01/14/2003 (238 .56) 0.00 167 .00 WebMethods Inc. 1,566.74 03/1412003 1,950.88 01/15/2003 (384 .14) 0.00 61 .00 WebMethods Inc. 572.28 03/14/2003 721 .19 02/12/2003 (148 .91) 0.00 3000 WebMethods; Inc. 281 .45 03/1412003 353 11 02/13/2003 (7166) 0.00 96.00 Avocent Corporation 2,295.05 03/17/2003 2,573.32 03/14/2003 (278 .27) 0.00 58.00 Claire's Stores hic. 1,298.99 03/17/2003 1,440.93 10/23/2002 (141 .94) 0.00 114 .00 Claire's Stores Inc. 2,553.18 03/17/2003 2,963.24 11/01/2002 (41006) 0.00 172 .00 Lexar Media Inc. 639 .18 03/17/2003 59808 08120/2002 41 .10 000 60.00 Lexar Media Inc. 222.97 03/17/2003 226.65 08/21/2002 (368) 0.00 107 .00 Lexar Media Inc. 397 .63 03/17/2003 38482 08/29/2002 1281 000 84.00 Lexar Media Inc. 312 .16 03/17/2003 29983 08/30/2002 12.33 000 42.00 Lexar Media Inc. 156.08 03/17/2003 14867 09/05/2002 741 0.00 175.00 Lexar Media Inc. 650.33 03/17/2003 660.66 09/06/2002 (1033) 0.00 58.00 Netscreen Technologies 1,029.47 03/17/2003 703.62 08/09/2002 325 .85 0.00 74.00 Netscreen Technologies 1,313.46 03/17/2003 966.87 08/16/2002 346.59 0.00 183.00 Netscreen Technologies 3,248.15 03/17/2003 2,351 .55 09/17/2002 896.60 0.00 212.00 Netscreen Technologies 3,762.88 03/17/2003 3,170.74 11/04/2002 592.14 000 5.00 Netscreen Technologies 88 .75 03/17/2003 78.34 11/1&'2002 10.41 0.00 309.00 WebMethods Inc. 3,004.25 03/17/2003 3,599.85 01/1312003 (59560) 0.00 36.00 WebMethods Inc. 350.01 03/17/2003 420.55 01/15/2003 (7054) 0.00 60.00 WebMethods Inc. 583 .35 03/17/2003 683.81 02/06/2003 (10046) 000 153.00 CbIre's Stores Inc. 3,546.72 03/1812003 3,772.98 10118/2002 (226.26) 0.00 19.00 Claires Stores Inc. 440.44 03/18/2003 47203 10(2312002 (31.59) 000 217 .00 Netscreen Technologies 3,903.71 03/18/2003 2,632.51 08/09/2002 1,271.20 0.00 2.00 Netscreen Technologies 35.98 03/1812003 24.07 08/12/2002 11.91 0.00 293 .00 Netscreen Technologies 4,930.42 03/19/2003 3,526.75 08112/2002 1,403.67 0.00 4.00 Ultra Petroleum Corp ADR 35.30 03/19/2003 32.37 03/2812002 2.93 000 103 .00 Ultra Petroleum Corp ADR 909.07 03/19/2003 834.30 04/01/2002 7477 0.00 165 .00 WebMethods Inc. 1,600.45 03/19/2003 1,873.69 01/2812003 (273 .24) 0.00 29.00 WebMethodc Inc. 281 .29 033119,12003 330.51 02.106!2n.03 (49.22) 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Descrintio Proceeds Date Cost Date Gain (- Loss) Pren-durn Discount)

159.00 Benchmark Electronics 4,903.81 03/2012003 5,537.95 0212812003 (634 .14) 0.00 114.00 WebMethods; Inc. 1,077.97 03/20/2003 1,294.55 01/28/2003 (21658) 000 163.00 WebMethods Inc. 1,541 .31 03/20/2003 1,83668 01129/2003 (295 .37) 0.00 155 .00 WebMethods; Inc. 1,465.67 03/20/2003 1,704.54 02/03/2003 (238 .87) 0.00 210.00 WebMethods Inc. 1,985.74 03/2012003 2,242.19 02/04/2003 (256 .45) 0.00 155.00 American Pharmaceutical Part 3,208.18 03/25/2003 3,74995 01/21/2003 (541 .77) 000 55.00 American Pharmaceutical Part 1,13839 03/25/2003 1,331.51 02/1812003 (193 .12) 0.00 275 .00 Cray, Inc 1,99462 03/25/2003 2,379.09 03/03f2OO3 (484 .46) 0.00 64.00 Gen-probe Inc 1,539.16 03/25/2003 1,326.14 10/28/2002 21302 0.00 119 .00 Lexar Media Inc. 439.50 03/2512003 41379 08/20/2002 25.71 0.00 651 .00 Legato Systems Inc 3,262.66 03/25/2003 3,53975 11/14/2002 (277 .09) 000 57.00 Itgato Systems Inc 285 .67 03/25/2003 304.34 11/18/2002 (18 .67) 000 143-00 Le-gato Systems Inc 716 .68 03/25/2003 784.80 11/20/2002 (68 .12) 000 62.00 Medicines Company 1,20678 03/25/2003 1,160.13 02/2612003 46.65 000 2.00 Netscreen Technologies 33.29 03/25/2003 24.07 08/1212002 922 0.00 141 .00 Netscreen Technologies 2,347.27 03/25/2003 1,677.84 08/13/2002 669 .43 0.00 75.00 Orasure Technologies Inc 484.48 03/25/2003 602.99 02105/2003 (118 .51) 0.00 48.00 Portfoho Recovery Associate 1,01037 03/25/2003 1,188.11 02/18/2003 (177 .74) 0.00 223.00 Ultra Petroleum Corp ADR 1,935.86 03125/2003 1,804.45 03/28/2002 131 .41 000 52.00 American Pharmaceutical Part 1,128.89 03/2612003 1,258.05 01/21/2003 (129 .16) 0.00 73.00 American Pharmaceutical Part 1,584.79 03126/2003 1,72982 02/03/2003 (145 .03) 0.00 123 .00 Cray, Inc 85606 03/26/2003 1,008.07 02/25/2003 (152 .01) 0.00 510.00 Craylnc 3,54950 0312612003 4,246.31 02/2612003 (69681) 000 86 .00 Cray, Inc 598 .54 03/26(2003 721 .60 02127/2003 (123 .06) 000 125-00 CrayInc 869 .98 0312612003 1,081.40 03/03/2003 (211 .42) 0.00 67.00 Digene Corporation 1,068.47 0312&2003 1,150.32 03/19f2003 (81 .85) 0.00 17 .00 Lexar Media Inc. 60.39 0312612003 59.11 08/20/2002 1 .28 000 79.00 Lexar Media Inc. 280.64 03/26/2003 253 .55 09/03/2002 27 .09 000 16 .00 Lexar Media Inc. 56.84 03/2612003 53 .95 09/04/2002 2.89 0.00 170 .00 Legato Systems Inc 86307 03/2612003 826.42 11/13/2002 36.65 0.00 77.00 Lepto Systems Inc 390.92 03/26/2003 411 .04 11/15/2002 (20.12) 0.00 520.00 Legato Systems Inc 2,639.97 03/2612003 2,77644 11/18/2002 (136.47) 000 154 .00 Legato Systems Inc 78184 03/2612003 807 .67 11/1912002 (25 .83) 0.00 99-00 Medicines Company 1,935.82 0312612003 1,85247 02126r2OO3 83 .35 0.00 39.00 Orasure Technologies Inc 24959 03/2612003 313.55 02/05/2003 (63 .96) 000 25.00 Portfoho Recovery Associate 518 .03 03/26/2003 618.80 02/18/2003 (100.77) 0.00 44.00 Portfolio Recovery Associate 911 .72 03/2612003 1,07871 02/19/2003 (166.99) 0.00 150 .00 Ultra Petroleum Corp ADR 1,309.93 03/2612003 1,213.75 03/28/2002 96 .18 0.00 89.00 Cray,lac 615 .77 03/27/2003 729.42 02/25/2003 (113 .65) 0.00 83.00 Digene Corporation 1,28148 03/27/2003 1,425.02 03/19/2003 (143 .54) 0.00 30-00 Gen-probe Inc 667.79 03f27/2003 621 .63 lOf28/2002 46.15 0.00 85-00 Gen-probe Inc 1.892 .05 03/27/2003 1,751.81 10/29/2002 140.24 0.00 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 23 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Descrintion Proceeds Date Cost Date Gain (- Less) Premium Discount)

25.00 Gen-probe Inc 556 .49 03127/2003 51414 10131/2002 42.35 0.00 3.00 Hurricane Hydrocarbons-Cl. A 31 .47 03/27/2003 37 .52 02128/2003 (6.05) 0.00 34.00 Hurricane Hydrocarbons-Cl. A 35667 0312712003 433.52 03/03/2003 (7685) 0.00 85.00 Lexar Media Inc. 289 .52 03127/2003 23009 08/09/2002 59 .43 0.00 25.00 Lexar Media Inc 85 .15 0312712003 8024 09/03/2002 4.91 0.00 308.00 Legato Systems Inc 1,529.33 0312712003 1,395.09 11/07/2002 134 .24 000 77.00 Legato Systems Inc 382 .33 03/27/2003 327 .25 11/08/2002 55 .08 0.00 216.00 Legato Systems Inc 1,072.52 03/27/2003 901 .02 11/11/2002 171 .50 0.00 324.00 Legato Systems Inc 1,608.78 03/27/2003 1,575.06 11/13/2002 33 .72 0.00 76.00 Medicines Company 1,461.97 03/27/2003 1,260.00 11126(2002 201 .97 0.00 124 .00 Medicines Company 2,385.33 0312712003 2,32026 02/26/2003 65.07 0.00 153 .00 Orasure Technologies Inc 933 .33 03/27/2003 1,226.14 0210412003 (292.81) 0.00 50.00 Orasure Technologies Inc 305 .01 03/27/2003 401.99 02/05/2003 (96.98) 0.00 30.00 Ultra Petroleum Corp ADR 268 .10 03/27/2003 242 .75 03/28/2002 25 .35 0.00 44.00 Cray,lac 297 .87 03/28/2003 347 .16 12r24/2002 (49 .29) 0.00 187 .00 Cray,lac 1,265.96 03/28/2003 1,479.49 12/26/2002 (21353) 0.00 103 .00 Cray, Inc 697 .29 03/28/2003 817 .72 12/31/2002 (12043) 000 83 .00 Cray,Inc 561 .90 03/2812003 668 .35 02124/2003 (106.45) 0.00 91.00 Cray,lac 616.05 03/2812003 745 .81 02125/2003 (129.76) 000 64.00 Digene Corporation 988 .39 03/28/2003 1,094.10 02/21/2003 (105 .71) 0.00 74.00 Digene Corporation 1,142.83 03/28/2003 1,248.95 02/24/2003 (106.12) 000 41 .00 Digene Corporation 633 .19 03/28/2003 703 .92 03/19/2003 (70.73) 0.00 19 .00 Gen-probe Inc 425 .78 03/28/2003 383 .38 10/30/2002 42.40 0.00 35.00 Gen-probe Inc 784.33 03/28/2003 719.80 10/31/2002 64 .53 0.00 115 .00 Gen-probe Inc 2,577.08 03/28/2003 2,339.11 11/0412002 237 .97 0.00 83.00 Hurricane Hydrocarbons-Cl. A 853 .36 03/28/2003 1,038.06 02/2812003 (184.70) 000 124 .00 Key Energy Group 1,27029 03/28/2003 1,309.37 02/18/2003 (39 .08) 0.00 254.00 Key Energy Group 2,602.04 03/2812003 2,812.90 02/24/2003 (210.86) 000 289.00 Lexar Media Inc. 982.95 03/28/2003 782.31 08/09/2002 20064 0.00 80.00 Netscreen Technologies 1,345.56 03/28/2003 886.84 Oa/01/2002 458.72 0.00 140 .00 Netscreen Technologies 2,354.74 03/2912003 1,665.94 Oa/ 1312002 688.80 0.00 167 .00 Orasure Technologies Inc 990.28 03/28/2003 1,338.34 02/04/2003 (34806) 0.00 57.00 Ultra Petroleum Corp ADR 504.98 03/28/2003 461 .23 03/28/2002 4375 0.00 41 .00 American Pharmaceutical Part 803 .62 03/31/2003 801 .08 01/08/2003 254 0.00 122 .00 American Pharmaceutical Part 2,391.27 03/31/2003 2,593.33 01/1712003 (20206) 0.00 59.00 American Pharmaceutical Part 1,15643 03/3112003 1,398.08 02/03/2003 (241 65) 0.00 50.00 Cray, Inc 328 .99 03/31/2003 394.50 12/24/2002 (6551) 0.00 219.00 Cray,lnc l,"O 98 03/3112003 1,717.20 12/27/2002 (276 .22) 0.00 75.00 Crayjnc 493 .49 03/3112003 582.05 01/0212003 (88 .56) 0.00 186 .00 Craylnc 1,223.85 03/31/2003 1,451.10 01/0612003 (227 .25) 0.00 246.00 Digene Corporation 3,852.31 03/31/2003 4,053.59 02/18/2003 (201 .28) 0.00 85 .M Di ggene Cbrporation 1,331.08 ON31120-03 1,407.85 02,119!2003 ('76 .7711 0.00

0 0 0 0 0 & 0 0 0 0 0 0

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Sale Purchase Realized Unamortized Bond Quantity Security Descriotion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

18.00 Digene Corporation 281 .88 03/31/2003 303 .80 02124/2003 (21 .92) 0.00 88-00 Digene Corporation 1,378.06 03/31/2003 1,463.98 02/25/2003 (85 .92) 0.00 132.00 Gen-probe Inc 3,016.12 03/31/2003 2,663.47 10130/2002 352 .65 0.00 34.00 Gen-probe Inc 776.88 03/31/2003 67935 11/01/2002 97.53 0.00 35 .00 Hurricane Hydrocarbons-Cl. A 352 .15 03/31/2003 437 .74 02/2812003 (85 .59) 0.00 44.00 Hurricane Hydrocarbons-Cl . A 442.71 03/31/2003 543 .07 03/04/2003 (100.36) 0.00 72.00 Orasure Technologies Inc 411 .82 03/3112003 57701 02/04/2003 (165 .19) 000 67-00 Orasure Technologies Inc 383.23 03/31/2003 50362 02/19/2003 (120.39) 0.00 46-00 American Pharmaceutical Part 894.49 04101/2003 83698 10114/2002 57 .51 0.00 77-00 American Pharmaceutical Part 1,497.29 04101/2003 1,446.10 12/1012002 51 .19 0.00 26.00 American Pharmaceutical Part 505.58 04101/2003 508 .00 01/08/2003 (2.42) 000 6.00 Cray,Inc 39.37 04101/2003 46.34 12120t2002 (6.97) 0.00 81 .00 Cray, Inc 531 .49 04/0112003 628 .62 01/02/2003 (97 13) 0.00 38-00 Gen-probe Inc 850.78 04101/2003 759 .28 11/01/2002 91 .50 0.00 118 .00 Gen-probe Inc 2,641.89 04/0112003 2,307.31 11/06/2002 334 .58 0.00 51 .00 Hurricane Hydrocarbons-Cl. A 506.92 04101/2003 629.46 03/0412003 (122.54) 0.00 113 .00 Hurricane Hydrocarbons-Cl . A 1,123.17 04/01/2003 1,347.39 03/0512003 (224.22) 0.00 30-00 Hurricane Hydrocarbons-Cl . A 298.19 0410112003 349 .13 03/0612003 (50.94) 0.00 67.00 Interdigital Comm Corp 1,31441 04/0112003 1,448.92 03/24/2003 (134-51) 0.00 67.00 Interdigital Comm Corp 1,314.41 04/01/2003 1,539.51 03/2712003 (225 .10) 0.00 65-00 Medicines Company 1,17506 04/01/2003 1,04995 11/19/2002 125 .11 000 43.00 Medicines Company 777 .35 04/01/2003 712 .90 1112612002 64.45 0.00 193 .00 Orasure Technologies Inc 1,109.70 04/01/2003 1,43656 02/12/2003 (326 .86) 0.00 38-00 Orasure Technologies Inc 21849 04/01/2003 281 .20 02/1812003 (62 .71) 0.00 88-00 Orasure Technologies Inc 505 .98 04/01/2003 66147 02/1912003 (155 .49) 000 82-00 Select Comfort Corp. 812.17 04101/2003 82421 11/29/2002 (12 .04) 000 23.00 Select Comfort Corp 227 .80 04/01/2003 243 .51 01/0612003 (15 .71) 0.00 238.00 Surebearn Corp. 694.82 04/01/2003 1,54234 11/0612002 (847 .52) 0.00 284.00 Surebearn Corp. 829.12 04/01/2003 1,732.68 11/1412002 (90356) 000 212.00 American Pharmaceutical Part 4,20825 04/02/2003 3,61566 09/27/2002 592.59 0.00 5.00 American Pharmaceutical Part 99.25 04/02/2003 90.98 10(14/2002 8.27 000 259.00 Cray, Inc 1,802.55 04102/2003 1,996.27 12/17/2002 (193 .72) 0.00 165.00 Cray, Inc 1,148.34 04/02/2003 1,267.81 12118/2002 (11947) 0.00 11.00 Cray, Inc 7656 04/02/2003 84 18 12/19/2002 (7.62) 0.00 71 .00 Cray, Inc 49414 04/02/2003 548.40 12120/2002 (5426) 0.00 14500 Cray, Inc 1,009.15 04/02/2003 1,117.34 12130/2002 (108 .19) 000 131.00 Gen-probe Inc 3,023.33 04/02/2003 2,56151 11/06/2002 461 .82 000 103 .00 Hurricane Hydrocarbons-Cl A 1,02995 04/02/2003 1,118.28 09/04f2002 (88 .33) 0.00 55 .00 Hurricane Hydrocarbons-Cl. A 549 .97 04/02/2003 601-98 01/07/2003 (5201) 000 92-00 Hurricane Hydrocarbons-Cl A 919 .95 04/02/2003 1,018.32 01/08/2003 (98 .37) 0.00 32 .00 Hurricane Hydrocarbons-Cl. A 319.98 04102/2003 372.40 03/0612003 (52 .42) 0.00 89-00 Medicines Company 1,590.60 04/02/2003 1,437.62 11/19/2002 152.98 0.00 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 25 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Descrintion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

65.00 Medicines Company 1,161 .67 04102/2003 1,04829 12/0412002 113 .38 0.00 9800 Orasure Technologies Inc 579 .15 04/0212003 725 .20 02/18/2003 (146 .05) 0.00 62.00 Select Comfort Corp . 641-82 04/0212003 597.68 11/27/2002 4414 0.00 4.00 Select Comfort Corp. 41 .41 04102/2003 4021 11/29/2002 1.20 000 148 .00 Select Comfort Corp. 1,532.09 04/02/2003 1,42851 12/02/2002 103 .58 0.00 16 .00 Select Comfort Corp. 165-63 04/0212003 152.16 12110/2002 13.47 0.00 217.00 Surebeam. Corp. 648.79 04102/2003 1,32392 11/14/2002 (675 .13) 000 23.00 Surebearn Corp 6877 04/02/2003 13967 11/25/2002 (70.90) 000 159 .00 Verity Inc 2,187 63 04102/2003 2,55661 03/1412003 (368.98) 000 85.00 American Pharmaceutical Part 1,635.32 04/03/2003 1,449.68 09/27/2002 18564 0.00 39.00 Hurricane Hydrocarbons-0 . A 394.99 04103/2003 390.73 08/27/2002 426 0.00 32.00 Hurricane Hydrocarbons-Cl. A 324.09 04103/2003 33248 09/03/2002 (8.39) 000 20.00 Hurricane Hydrocarbons-Cl. A 202-56 04103/2003 21714 09/04/2002 (14.58) 0.00 234.00 Medicines Company 4,269.57 04/03/2003 3,723.55 11/2112002 546.02 000 161.00 Medicines Company 2,937.61 04103/2003 2,596.54 12104/2002 34107 0.00 166 .00 Orasure Technologies Inc 989.31 04/03/2003 1,22536 02/1112003 (236.05) 0.00 110 .00 Orasure Technologies Inc 655 .57 04/03/2003 81400 02/18/2003 (158 .43) 0.00 255.00 Surebeam Corp. 747 .11 04/03/2003 1,548.46 11125/2002 (801 .35) 0.00 105 .00 Surebeam, Corp . 307 .63 04103/2003 626.61 11/27/2002 (318 .98) 0.00 80.00 Eon Labs Inc 2,171.89 04/04/2003 2,19088 03/2712003 (18 .99) 0.00 97-00 Hurricane Hydrocarbons-Cl A 965 .36 04/04/2003 97180 08127/2002 (6.44) 000 51-00 Hurricane Hydrocarbons-Cl. A 507 .56 04104/2003 50938 08/28/2002 (1 .82) 000 245-00 Medicines Company 4,489.14 0410412003 3,898 59 11/21/2002 59055 000 199-00 Marvel Enterprises Inc. 2,680-48 04/04/2003 2,46706 03/06/2003 213.42 0.00 81 .00 Surebeam Corp . 235 .23 0410412003 479.00 11/2612002 (243 .77) 0.00 87 .00 Surebeam, Corp. 25266 04/04/2003 51919 11/27/2002 (266 .53) 0.00 44.00 Eon Labs Inc 1,189.26 04/07/2003 1,177.20 03/1812003 12 .06 0.00 70.00 Eon Iabs Inc 1,892.01 04/07/2003 1,917.02 03/27/2003 (25 .01) 0.00 190.00 Hurricane Hydrocarbons-Cl . A 1,830.45 04107/2003 1,897.70 08/2812002 (67.25) 0.00 7.00 Hurricane Hydrocarbons-Cl . A 67.44 04/07/2003 6897 08/29/2002 (1 .53) 000 10.00 Medicines Company 181 .54 04/07/2003 155 .61 11/20/2002 25.93 000 137 .00 Medicines Company 2,487.12 04/07/2003 2,18003 11/2112002 307.09 000 154 .00 Medicines Company 2,795.74 04/07/2003 2,40240 12/10/2002 393 .34 000 94.00 Medicines Company 1,70649 04/07/2003 1,469.17 12/11/2002 23732 000 42.00 Marvel Enterprises Inc. 579-85 04/07/2003 472.21 02/03/2003 107 .64 000 259.00 Marvel Enterprises Inc. 3,575.73 04107/2003 3,020.77 02105/2003 554.96 0.00 39.00 Marvel Enterprises Inc. 538.43 04/07/2003 483 .49 03/0612003 54.94 000 21 .00 Orasure Technologies Inc 124 .63 04/07/2003 148 .29 02/07/2003 (23 .66) 000 286.00 Orasure Technologies Inc 1,697.33 04107/2003 2,091.98 02/10/2003 (394.65) 0.00 11 .00 Orasure Technologies Inc 65.28 04/07/2003 81 .20 02111/2003 (15 .92) 0.00 411.00 Surebearn Corp . 1,039.57 0410712W3 2,410.97 11/07/2002 (1,371 .40) 0.00 138 .00 Surebearn Corp. 349.05 04107/2003 802 .30 11/1812002 (453 .25) 000

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

445.00 Surebearn Corp 1,125.56 04/07/2003 2,631.55 11/2612002 (1,505 .99) 0.00 49.00 Ultra Petroleum Corp ADR 405 .92 04107/2003 36564 09/03/2002 40.28 000 84 .00 Hurricane Hydrocarbons-CI A 794.16 04/08/2003 780.51 08/26/2002 13 .65 000 43.00 Hurricane Hydrocarbons-CI A 406.53 04/08/2003 42369 08/29/2002 (17 .16) 0.00 144.00 Medicines Company 2,578.85 OVOW2003 2,240.76 11/20/2002 338 .09 000 81 .00 Marvel Enterprises Inc 1,115.43 04108/2003 91069 02/03/2003 204.74 000 127.00 Orasure Technologies Inc 751 .80 04108/2003 896.77 02/07/2003 (144.97) 000 186 .00 Key Energy Group 1,834.34 04/09/2003 1,964.05 02/18/2003 (12971) 000 194.00 Key Energy Group 1,913.23 04/09/2003 2,039.27 04/0212003 (12604) 000 93 .00 Mavenck Tube Corp 1,643.68 04/09/2003 1,608.44 02/2412003 35 .24 000 119.00 Maverick Tube Corp 2,103.20 04/09/2003 2,10666 02/25/2003 (3.46) 000 92.00 Maverick Tube Corp 1,626.00 04/09/2003 1,589.79 03/03/2003 3621 0.00 160.00 Cray,Inc 1,139.14 04/1 W2003 1,224.38 12/19/2002 (85 .24) 0.00 26.00 Cray, Inc 185 .11 04/10/2003 19889 01/03/2003 (1378) 000 50.00 Key Energy Group 504.58 04/10/2003 52490 02/14/2003 (20.32) 0.00 188 .00 Key Energy Group 1,897.22 04/10/2003 1,97620 04102/2003 (78 .98) 0.00 16-00 Orasure Technologies Inc 95.99 04/10/2003 112 .98 02107/2003 (1699) 000 161 .00 Cray, Inc 1,146.27 04111/2003 1,215.20 12/23/2002 (68 .93) 0.00 132 .00 Cray, Inc 939.79 04/11/2003 1,009.77 01/03/2003 (69 .98) 000 149 .00 Integra Lifesciences Cp 3,403.91 04/11/2003 3,44041 03/26/2003 (36.50) 0.00 142 .00 Key Energy Group 1,40925 04/11/2003 1,49070 02/1412003 (81 .45) 0.00 107-00 Orasure Technologies Inc 606.66 04/11/2003 755.55 02/07/2003 (148 .89) 0.00 302.00 Surebeam Corp. 717.89 04/1112003 1,755.34 11/05/2002 (1,037 .45) 0.00 141 .00 Surebeam Corp. 335.18 04/11/2003 749.39 11/08/2002 (414.21) 0.00 163 .00 Surebearn Corp. 387.47 04/11/2003 909.65 11/13/2002 (522 .18) 0.00 186 .00 Surebeam Corp. 442.15 04/11/2003 1,081.37 11/18/2002 (63922) 0.00 77.00 Surebeam Corp. 18304 04/11/2003 435 67 11/1912002 (252 .63) 000 454.00 Biomnrin Pharmaceutical Inc 5,18552 04/14/2003 4,853.31 01/31/2003 332.21 000 92.00 Biomarin Pharmaceutical Inc 1,05081 04/14/2003 985.26 03/07/2003 65.55 0.00 87.00 Biornlrin Pharmaceutical Inc 993.70 04/14/2003 949.35 03/1212003 44.35 0.00 69-00 Integra Lifesciences Cp 1,559.95 04/14/2003 1,464.59 03/17/2003 95.36 000 10.00 Integra Wesciences Cp 22608 04/14/2003 230.90 03/26(2003 (4.82) 0.00 268.00 Surebearn Corp 645 .44 04/14/2003 1,375.24 11104/2002 (729 .80) 0.00 168.00 Surebeam Corp. 404.61 04/14/2003 89289 11/08/2002 (48828) 0.00 6100 Biomarin Pharmaceutical Inc 658.17 04/15/2003 652.10 01/3112003 607 0.00 167.00 Biomarin Pharmaceutical Inc 1,80188 04115/2003 1,763.80 02/03/2003 3808 0.00 187.00 Biomnrin Pharmaceutical Inc 2,01767 04/15/2003 1,98285 02/05/2003 34.82 0.00 145.00 Biomarin Pharmaceutical hic: 1,564.50 04/1512003 1,54679 03/11/2003 1771 000 119.00 Connetics Corp . 1,923.18 04/15/2003 1,997.77 04/01/2003 (74 .59) 0.00 78-00 Inspire Pharmaceuticals Inc 1,041.72 04/15/2003 1,052.37 02/1212003 (10 .65) 0.00 242.00 Inspire Pharmaceuticals Inc 3,231.99 04115/2003 3,536.37 02/18/2003 (304 .38) 0.00 78.00 Maverick Tube Corp 1,312.36 04/15/2003 1,301.73 02/19/2003 10.63 000 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 27 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

155.00 Maverick Tube Corp 2,60789 04/15/2003 2,669.04 02/21/2003 (61 .15) 0.00 4.00 Maverick Tube Corp 67.30 04/15/2003 6912 03/03/2003 (182) 000 64-00 Pharmaceutical Resources, Inc. 2,731 .72 04115/2003 2,480.13 03/1712003 251 .59 000 32-00 Pharmaceutical Resources, Inc. 1,365.86 04115/2003 1,296.00 03/19/2003 69 .86 000 231 .00 Select Comfort Corp . 2,33604 04/15/2003 2,19681 12/10/2002 139 .23 0.00 197 .00 Select Comfort Corp . 1,992.20 04115/2003 1,801-53 12127/2002 19067 0.00 197 .00 Surebeam Corp. 462.64 04/15/2003 1,010.91 11/0412002 (548 .27) 0.00 213-00 Surebeam. Corp. 500.22 04/15/2003 1,05009 12/0212002 (549-87) 0.00 1 .00 Biomarin Pharmaceutical Inc 10 .98 04116/2003 1056 02/03/2003 042 0.00 291 .00 Biomarm Pharmaceutical Inc 3,195.08 04/1612003 2,924-55 02/0612003 270.53 0.00 210.00 Biomarin Pharmaceutical Inc 2,305.73 04/16/2003 2,142.44 02/07/2003 163 .29 0.00 289.00 Biomarin Pharmaceutical Inc 3,173.13 04/1612003 2,944-51 02118/2003 228 .62 000 99-00 Biomarin Pharmaceutical Inc 1,086.99 04116/2003 1,019-63 03/06/2003 67.36 000 155 .00 Maverick Tube Corp 2,643.26 04/16/2003 2,539-55 02118/2003 103 .71 0.00 77.00 Maverick Tube Corp 1,313.10 04/16/2003 1,285.05 02/19/2003 28 05 0.00 64.00 Maverick Tube Corp 1,091 .41 0411612003 1,042.52 03/11/2003 48.89 0.00 19 .00 Maverick Tube Corp 324.01 04/1612003 304.53 03/1212003 19 .48 0.00 57-00 Pharmaceutical Resources, Inc. 2,300.43 0411612003 1,876.78 02/10/2003 42365 0.00 106 .00 Pharmaceutical Resources, Inc. 4,278.00 04/16/2003 3,811 .83 02/27/2003 466.17 0.00 64.00 Pharmaceutical Resources, Inc. 2,582.94 04/16/2003 2,393.89 02/28/2003 189 .05 0.00 31 .00 Pharmaceutical Resources, Inc. 1,251.11 04/16/2003 1,181 .21 03/03/2003 69.90 000 66-00 Pharmaceutical Resources, Inc. 2,663.66 04/1612003 2,50002 03/04/2003 163 .64 0.00 24.00 Pharmaceutical Resources, Inc. 968.60 04/16/2003 930.05 03/1712003 3855 000 155.00 Select Comfort Corp. 1,559.50 04/16t2003 1,411 .28 12/18/2002 148 .22 000 93 .00 Select Comfort Corp. 935 .70 04/1612003 824.60 12/19/2002 111 10 000 68.00 Select Comfort Corp. 694.17 04116/2003 621 .85 12/27/2002 62.32 000 230.00 Surebearn Corp . 53146 04/16/2003 1,114.10 11/01/2002 (582 .64) 0.00 188.00 Surebeam Corp . 434.41 0411612003 926-84 12tO2/2002 (49243) 0.00 61 .00 Maverick Tube Corp 1,049.00 04117/2003 977.71 03/12/2003 71 .29 0.00 271 .00 Inspire Pharmaceuticals Inc 3,56381 04/21/2003 3,656-30 02/12t2003 (92 .49) 0.00 14.00 Integra Lifesciences Cp 310.40 04/22/2003 282.97 03/0612003 27 .43 0.00 159.00 Integra Lifesciences Cp 3,525.26 04122/2003 3,215-57 03/07/2003 309.69 0.00 58 .00 Integra Lifesciences Cp 1,285.94 04/22/2003 1,231.10 03/17/2003 54.94 0.00 58 .00 Inspire Pharmaceuticals hic 771 .79 04/2212003 771-28 01/17/2003 051 0.00 118 .00 Inspire Pharmaceuticals Inc 1,570.19 04/2212003 1,573-27 01/21/2003 (3.08) 0.00 107 .00 Inspire Pharmaceuticals Inc 1,423.81 04/22/2003 1,443.63 02/1212003 (19.82) 0.00 52 .00 J2 GLOBAL COMMUNICATIONS INC 1,617.60 04/2212003 1,697.19 04103/2003 (79-59) 0.00 -89 .00 12 GLOBAL COMMUNICATIONS INC 2,768.58 04/22/2003 2,872.29 04/04/2003 (103.71) 0.00 80.00 J2 GLOBAL COMMUNICATIONS INC 2,488.61 04/22/2003 2,855.66 04/16/2003 (367.05) 0.00 124.00 Station Casinos Inc 2,674.18 04/22/2003 2,712.09 04/15/2003 (37.91) 0.00 111 .00 Cray,Inc 822.16 04/23/2003 786.67 1112212002 35 .49 0.00 278 .00 Cray. Inc 2,059.10 (Wn3/2003 1,984.67 11/27.12002 74.4-1 00)

0- * 0 0 0 0 0 0 0 0 0 0 0

Dfiehaus Capital Management Friday January 23, 2004 16:54:16 Page 28 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

158 .00 Cray,Inc 1,170.28 04/23/2003 1,175.24 1211612002 (4.96) 000 41 .00 Cray, Inc 303 .68 04/23/2003 309.46 12123/2002 (5.78) 0.00 101 .00 Inspire Pharmaceuticals Inc 1,353.50 04123/2003 1,343.09 01/17/2003 10.41 000 13 .00 Inspire. Pharmaceuticals Inc 17421 04/23f2003 172 .19 02/11/2003 2.02 0.00 126 .00 Nedlix Inc 2,595.55 04/23/2003 2,512.63 03/26/2003 82.92 0.00 173 .00 Netflix Inc 3,563.74 04/23/2003 3,455.12 04/02/2003 10862 000 76.00 Nedlix Inc 1,565.57 04123/2003 1,528.80 04/0312003 36.77 0.00 171 .00 Nedlix Inc 3,522.54 04123/2003 3,433.22 04107/2003 89.32 000 117 .00 Nedlix Inc 2,410.16 04/23/2003 2,370.63 04108/2003 39.53 000 86.00 Nedlix Inc 1,771.57 04/23/2003 1,838.97 04/11/2003 (67 .40) 000 70.00 Netflix Inc 1,441.97 04/2312003 1,701 .69 04/21/2003 (259 .72) 000 126 .00 Netf& Inc 2,595.55 04/23/2003 3,03182 04/2212003 (436 .27) 0.00 27.00 Station Casinos Inc 602.84 04/23f2003 590.54 04/15/2003 12 .30 0.00 89 .00 Station Casinos hic 1,987.15 04123/2003 2,055.01 04123/2003 (67 .86) 000 67.00 Advanced Neuromodulation Sys . 2,792.11 04/2412003 2,911 .89 04/08/2003 (119 .78) 000 211-00 Ask Jeeves Inc 1,667.37 04/24/2003 1,49238 02/21/2003 174 .99 0.00 140.00 Ask Jeeves Inc 1,106.31 04/2412003 994.14 02r24/2003 11217 0.00 180 .00 Ask Jeeves Inc 1,422.40 04124/2003 1,270.80 03/03/2003 151-60 0.00 196.00 Ask Jeeves Inc 1,548.84 04/24/2003 1,415.69 03/31/2003 133 .15 000 317.00 Ask Jeeves Inc 2,505.00 04/24/2003 2,857.44 04/15/2003 (352 .44) 000 87.00 Ask Jeeves Inc 687 .49 04/2412003 800.55 04/16/2003 (113 .06) 0.00 33.00 Cray,Inc 245 .23 OV2412003 23265 11 r2112002 12 .58 0.00 213.00 Cray, Inc 1,582.87 04/24/2003 1,509.55 11/22/2002 73.32 0.00 77.00 CrayInc 572.21 0412412003 545.16 11/25/2002 27.05 000 85.00 Nedlix Inc 1,819.27 04/24/2003 1,56385 03/24/2003 255.42 0.00 65.00 Netflix Inc 1,391.21 04/2412003 1,25440 03/25/2003 136 .81 0.00 4.00 Netflix Inc 85 .61 04/24/2003 79.77 03/2612003 5 84 0.00 152 .00 Nedlix Inc 3,253.28 04124/2003 2,908.29 04/01/2003 344.99 000 154 .00 Nefflix Inc 3,296.09 04/2412003 3,042.19 04104/2003 253-90 0.00 355-00 Ask Jeeves Inc 2,860.81 04/25/2003 2,448.83 02119/2003 411 .98 0.00 62-00 Ask Jeeves Inc 499.63 04/25/2003 427.09 02/20/2003 72.54 0.00 157.00 Ask Jeeves Inc 1,265.20 04P-5/2003 1,10842 03/03/2003 15678 0.00 155.00 Ask Jeeves Inc 1,249.09 04/25/2003 1,071 .83 03/04/2003 177 .26 000 381 .00 Ask Jeeves Inc 3,070.33 04/25/2003 2,656.22 03/20/2003 414.11 0.00 276.00 Ask Jeeves Inc 2,224.18 04/25/2003 1,912.68 03/21/2003 31150 000 16600 Ask Jeeves Inc 1,337.73 04/25/2003 1,17196 04/01/2003 165 .77 000 121.00 Cray, Inc 895 .41 04125/2003 85305 11/21/2002 42.36 000 11.00 Nedlix Inc 23890 04/25/2003 20238 03/24/2003 3652 0.00 145.00 Integra Wesciences Cp 3,732.53 04/28/2003 2,930.80 03/0612003 801 .73 000 95 .00 Integra Lifesciences Cp 2,188.03 OVM003 1,64648 03/1 If2003 541 .55 000 82 .00 Openwave Systems Inc 132 .66 04/2&2003 191 .65 12/27/2002 (58 .99) 0.00 246-00 Openwave Systems Inc 397 .98 04/2812003 55295 12/30/2002 (154 .97) 000 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 29 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purdtase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

37.00 Advanced Neuromodulation Sys. 1 .533 .79 04/29/2003 1,555.86 03/28/2003 (22.07) 000 43-00 Advanced Neuromodulation Sys. 1,782.52 04129/2003 1,868.83 04/08/2003 (86.31) 0.00 58.00 Ariba Inc 18705 04/29/2003 217.41 11/15/2002 (30.36) 000 14.00 J2 GLOBAL COMMUNICATIONS INC 402.73 04/29/2003 451.82 04104/2003 (49.09) 0.00 63 .00 J2 GLOBAL COMMUNICATIONS INC 1,812.29 04/29/2003 1,987.11 04/09/2003 (174 .82) 0.00 168.00 Overstock.com Inc 1,552.50 04129/2003 3,057.95 OM4/2003 (1,505 .45) 0.00 97 .00 Overstock.com Inc 89638 04/29/2003 1,440.98 03/05/2003 (5".60) 0.00 210.00 Sina Corp 2,088.20 04/29/2003 2,228.46 04/25/2003 (140 .26) 0.00 58 .00 Advanced Neuromodulation Sys. 2,395.29 04130/2003 2,297.70 02/03/2003 97 .59 0.00 13 .00 Advanced Neuromodulation Sys. 53687 04/3012003 514.32 03/19/2003 22.55 0.00 83 .00 Advanced Neuromodulation Sys. 3,427.74 04130/2003 3,38000 03/27/2003 47 .74 000 33 .00 Advanced Neuromodulation Sys. 1,362.83 04/30/2003 1,387.66 03/28/2003 (24.83) 000 117.00 Ariba Inc 380.30 04/3012003 388.42 11/13t2OO2 (812) 0.00 535.00 Ariba Inc 1,73897 04/30/2003 2,005.45 11/15/2002 (266 .48) 0.00 80.00 J2 GLOBAL COMMUNICA77ONS INC 2,333.91 04/30/2003 2,478.18 03/27/2003 (144 .27) 0.00 51 .00 J2 GLOBAL COMMUNICATIONS INC 1,487.87 04130/2003 1,608.62 04/09/2003 (120 .75) 0.00 118.00 Key Energy Group 1,182.47 04/3012003 1,238.75 02/1412003 (56.28) 0.00 159.00 Key Energy Group 1,593.32 04/30/2003 1,614.10 03/1 1t2003 (20.78) 0.00 112.00 Key Energy Group 1,122.34 04/30/2003 1,120.31 03/12/2003 2.03 0.00 61 .00 OverstocLoom Inc 477.67 04/30/2003 906.19 03/05/2003 (428 .52) 0.00 101.00 Overstock.com Inc 790.90 04/30/2003 1,491.77 03/07/2003 (700 .87) 0.00 2.00 OverstocLcom Inc 15 .66 04/30/2003 29.34 03/11/2003 (1368) 0.00 79 .00 American Italian Pasta 3,507.56 04130/2003 3,60602 04/02/2003 (98.46) 0.00 72.00 American Italian Pasta 3,196.76 04/30/2003 3,240.49 0410812003 (43.73) 0.00 16 .00 American halonn Pasta 710.39 04/3012003 726.40 04115/2003 (16.01) 0.00 24 .00 American Italian Pasta 1,065.59 04/30/2003 1,094.40 04/1 &2003 (2881) 0.00 81 .00 Sina Corp 798.25 0413012003 461.21 12/0212002 337.04 0.00 16700 Sina, Corp 1,645.77 04130/2003 934.43 02/13/2003 711.34 0.00 11 .00 Sina Corp 10840 04/30/2003 116.73 04/25/2003 (8 .33) 0.00 83 .00 Sma Corp 817.96 04/30/2003 779.88 04/28/2003 38 .08 0.00 129-00 Station Casinos Inc 2,778.41 04/30/2003 2,782.25 OVIV2003 (3 84) 0.00 29-00 Station Casinos Inc 624.60 04/30/2003 634.28 04115/2003 (968) 0.00 17 .00 Station Casinos Inc 366.15 04130/2003 365.42 04/16t2003 0.73 000 17500 Station Casinos Inc 3,769.16 04/30/2003 3,888.50 04125/2003 (119 .34) 0.00 107.00 Ariba Inc 342.78 05/01/2003 353.59 11/08/2002 (10.81) 000 647.00 Ariba Inc 2,07267 05/01/2003 2,147.92 11/13/2002 (75.25) 0.00 8.00 American Italian Pasta 342.95 05/01/2003 321.29 01/30/2003 21 .66 0.00 93 .00 American Italian Pasta 3,986.74 05/01/2003 3,769.09 02/12/2003 217.65 0.00 31 .00 American Ital;a Pasta 1,328.91 05/01/2003 1,331.13 02/14/2003 (2 .22) 0.00 32 .00 American Italian Pasta 1,371.78 05/01/2003 1,326.32 03/11/2003 45 .46 0.00 .90 2,957 03/17/2003 0.70 0.00 69 .00 American Italian Pasta 2,957 05/01/2003 .20 " 70.00 Americau Itahan Pasta 3,00077 0510112003 3,150.48 0410a= j _Aq ."' .)I N 0.00 0 0

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Sale Purchase Realized Unamortized Bond Ouantity Security Descritition Proceeds Date Cost Date Gain (- Loss) Premium Discount)

75 .00 Sina Corp 738.61 05/01/2003 419.66 02/13/2003 318 95 0.00 166.00 Station Casinos Inc 3,506.15 05/01/2003 3,540.71 03/21/2003 (34.56) 0.00 83 .00 Station Casinos Inc 1,753.08 05/0112003 1,73969 03/2612003 1339 0.00 135.00 Station Casinos Inc 2,851 .39 05/01/2003 2,814.51 04/01/2003 3688 0.00 317 .00 Station Casinos Inc 6,695.48 05/0112003 6,81392 04/16/2003 (118 .44) 000 46.00 Overstock.corn Inc 441 .68 05/02/2003 642.60 03/04/2003 (20092) 000 159 .00 Overstock.corn Inc 1,526.68 05/0212003 2,310.27 03/06/2003 (783 .59) 000 74.00 Overstock.corn Inc 71053 05/0212003 1,081 .88 03/10/2003 (37135) 0.00 90.00 Overstock.corn Inc 864 .16 05/02/2003 1,32030 03/11/2003 (45614) 0.00 301 .00 American Italian Pasta 12,88409 05/0212003 12,08867 01/30/2003 795 .42 0.00 59.00 American Italian Pasta 2,525.45 05/0212003 2,363.63 02/06/2003 161 .82 0.00 24.00 Sina Corp 243 .83 05/02/2003 13392 12/05/2002 10991 0.00 52.00 Sina Corp 528.29 05/02/2003 29096 02/13/2003 23733 0.00 40.00 Eon Labs Inc 1,264.39 05/05/2003 1,14840 04/15/2003 115 .99 0.00 127 .00 Eon Labs Inc 4,014.43 05/05/2003 3,830.96 04/25/2003 183 .47 0.00 71 .00 J2 GLOBAL COMMUNICATIONS INC 2,082.33 05/05/2003 2,199.38 03/27/2003 (11705) 0.00 104 .00 Lone Star Technologies Inc 2,255.24 05/05/2003 2,22052 03/28/2003 34.72 0.00 87.00 Lone Star Technologies Inc 1,886.59 05/0512003 1,874.15 04/01/2003 1244 000 91 .00 American Italian Pasta 3,831 .98 05/0512003 3,579.77 02/04/2003 25221 0.00 80 .00 American Italian Pasta 3,368.78 05/05/2003 3,161 .88 02/05/2003 20690 0.00 18 .00 American Italian Pasta 757.97 05/05/2003 721 .11 02/06/2003 3686 000 62.00 American Italian Pasta 2,610.80 05/05/2003 2,468.95 02/07/2003 141 85 0.00 31 .00 American Italian Pasta 1,305.40 05/05/2003 1,237.15 02/11/2003 68 .25 0.00 33.00 Pharmaceutical Resources, Inc. 1,401.04 05/05/2003 1,445 12 04121/2003 (4408) 000 143 .00 Pharmaceutical Resources, Inc. 6,071 .19 05/05/2003 6,639.65 04/23/2003 (56846) 000 102 .00 Pharmaceutical Resources, Inc. 4,330.50 05/05/2003 4,499.22 04/25/2003 (168 .72) 0.00 145 .00 J2 GLOBAL COMMUNICATIONS INC 4,076.85 05/0612003 4,491 .69 03/27/2003 (41484) 000 7.00 Lone Star Technologies Inc 155 .19 05/0612003 149 .46 03128/2003 5.73 000 98.00 Lone Star Technologies Inc 2,172.70 05/0612003 2,090.88 04/16/2003 81 .82 0.00 3.00 Pharmaceutical Resources, Inc. 127 .70 05/0612003 98.52 02/03/2003 29 .18 0.00 83.00 Pharmaceutical Resources, Inc. 3,533.17 05/06/2003 2,732.85 02tlO/2003 800.32 0.00 63.00 Pharmaceutical Resources, Inc. 2,681 .80 05/06t2003 2,75886 04121/2003 (77 .06) 0.00 30.00 J2 GLOBAL COMMUNICATIONS INC 816 .83 05/07/2003 929.32 03/27/2003 (112 .49) 000 110.00 J2 GLOBAL COMMUNICATIONS INC 2,99505 05/07/2003 3,320.01 03/28/2003 (32496) 000 66.00 J2 GLOBAL COMMUNICATIONS INC 1,797.03 05/07/2003 1,948.69 04101/2003 (151 .66) 0.00 160.00 Leapfrog Enterprises Inc 4,109.29 05/07/2003 4,476.66 04/25/2003 (367 .37) 0.00 20.00 Pharmaceutical Resources, Inc 783.31 05/07/2003 631 .55 01/1412003 151 .76 0.00 96.00 Pharmaceutical Resources, Inc. 3,759.90 05/07t2OO3 3,062.97 01/22/2003 696.93 0.00 115.00 Pharmaceutical Resources, Inc. 4,504.05 05/07/2003 3,776.70 02/03/2003 727.35 0.00 78.00 Leapfrog Enterprises Inc 2,006.27 05/08/2003 2,182.37 04/25/2003 (176 .10) 0.00 79.00 Leapfrog Enterprises Eric 2,031.99 05/08t2003 2,145.40 04129/2003 (113 .41) 0.00 73.00 Proassurance Corp 1,958.36 05/13/2003 1,691 .14 01/31/2003 267.22 0.00 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 31 Gains and Loss Reportfron: 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

127.00 Proassurance Corp 3,407.00 05/13/2003 3,10291 04/15/2003 30409 0.00 86.00 Proassurance Corp 2,307.11 05/13/2003 2,11129 04/1612003 195.82 000 19 .00 Portfolio Recovery Associate 488.27 05/13/2003 530.02 04/2412003 (41.75) 0.00 120.00 Pharmaceutical Resources, Inc 4,671 .16 05/13/2003 3,78900 01/13/2003 882.16 000 43 .00 Pharmaceutical Resources, Inc. 1,673.83 05/13/2003 1,357.83 01/1412003 31600 0.00 41 .00 Advanced Neuromodulation Sys. 1,701 .44 05/14/2003 1,61252 03/18/2003 88 .92 0.00 51 .00 Advanced Neuromodulation Sys. 2,116.43 05/14/2003 2,017.72 03/19/2003 9871 000 28.00 Proassurance Corp 753.81 05/14/2003 59209 01/17/2003 161.72 000 44.00 Proassurance Corp 1,184.56 05/1412003 955.75 01/21/2003 228.81 000 36.00 Proassurance Corp 969.19 05/1412003 779.42 01/22/2003 189.77 0.00 107.00 Proassurance Corp 2,880.64 05/14/2003 2,304.42 01/23/2003 576.22 0.00 75 .00 Proassurance Corp 2,019.14 05/14/2003 1,610.82 01/24/2003 408.32 0.00 82 .00 Proassurance Corp 2,207.59 05/1412003 1,853 11 01/30/2003 354.48 0.00 72 .00 Proassurance Corp 1,938.37 05/14/2003 1,667.97 01/31/2003 270-40 0.00 52 .00 Proassurance Corp 1,399.93 05/14/2003 1,166.84 02105/2003 233.09 0.00 33 .00 Proassurance Corp 888.42 05/14/2003 729.64 02/1012003 158.78 0.00 62 .00 Proassurance Corp 1,669.15 05/14/2003 1,397.66 02/11/2003 271.49 0.00 39 .00 Proassurance Corp 1,049.95 05/14/2003 872.96 02/1212003 176.99 000 15 .00 Proassurance Corp 403.83 05/14/2003 333.11 02/13/2003 70.72 000 26.00 Proassurance Corp 699.97 05/14/2003 574.55 02/18/2003 125.42 0.00 30.00 Proassurance Corp 807.65 05/14/2003 664.95 02/19/2003 142.70 0.00 29.00 Proassurance Corp 780.73 05/14/2003 646.94 02/20/2003 133.79 0.00 36.00 Proassurance Corp 969.19 05/1412003 811.72 02/21/2003 157.47 0.00 33.00 Proassurance Corp 888.42 05/14/2003 74360 02/24/2003 144.82 0.00 153.00 Portfolio Recovery Associate 3,900.91 05/14/2003 4,268.06 041242003 (367 .15) 0.00 155.00 Pharmaceutical Resources, Inc. 5,875.71 05/1412003 4,819.68 12/23/2002 1,056.03 0.00 33 .00 Pharmaceutical Resources, Inc. 1,250.96 05/14/2003 976.72 12/27/2002 274.24 0.00 94.00 Pharmaceutical Resources, Inc. 3,563.33 05/14/2003 2,846.52 01/0812003 716.81 0.00 21 .00 Pharmaceutical Resources, Inc. 796.06 05/14/2003 663.08 01113/2003 132.98 0.00 621.00 Sma Corp 8,501 .09 05/14/2003 3,369.05 11/25/2002 5,132.04 0.00 92.00 SmaCorp 1,259.42 05/14/2003 507.47 12/03/2002 751.95 000 99.00 Sina Corp 1,355.25 05/1412003 545.63 12/04/2002 809.62 0.00 87 .00 Sma Corp 1,190.97 05/14/2003 485.46 12105/2002 705.51 000 93 .00 Sma Corp 1,273.11 05/14/2003 490.11 12/06/2002 783.00 0.00 286.00 Sina Corp 3,915.15 05/14/2003 1,518.80 12109/2002 2,396.35 0.00 158.00 Sina Corp 2,162.92 05/14/2003 802.09 12/1 W2002 1,360.83 0.00 13 .00 Advanced Neuromodulation Sys. 546.96 05/15/2003 496.27 01/10/2003 50.69 0.00 62 .00 Advanced Neuromodulation Sys. 2,608.58 05/15/2003 2,368.71 01/31/2003 239.87 0.00 96 .00 Advanced Neuromodulation Sys. 4,039.10 05/15/2003 3,775.66 03/18/2003 263.44 0.00 32 .00 Portfolio Recovery Associate 808.37 05/15/2003 784.52 02/1912003 23 .85 0.00 35 .00 Portfolio Recovery Associate 884.16 05/15/2003 855.33 02/26(2003 28 .83 0.00 803M VU Prc~-" xWWWAY A.'sociate 4V7V 1k 05,ACII& I 5,2M ~ ~'J-35 W-A 12-W32 (2188.6311 0.00

9 40 9 0 0 0 0 0 0 0 0 0 0

Dfiehaus Capital Management Friday January 23, 2004 16 -54 -16 Page* * 32 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06057070 -- RHD FOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

14 .00 Advanced Ncuromodulation Sys . 579 .88 05/19/2003 53444 01/1012003 45.44 0.00 12 .00 Omnivision Technologies 355 .78 05/19/2003 229.81 12/1212002 125 .97 0.00 88.00 Oninivision Technologies 2,609.07 05/19/2003 2,237.31 04/16/2003 371 .76 0.00 5.00 Omnivision Technologies 148 .24 05/19/2003 132.99 04123/2003 15.25 0.00 241 .00 Sma Corp 3,269.15 05/19/2003 1,223.44 12/10/2002 2,045.71 0.00 148 .00 Sina Corp 2,007.61 05/1912003 72890 12111/2002 1,278.71 0.00 39.00 Timberland Company - Cl. A 1,897.28 05/19/2003 1,982 17 05/08/2003 (84 .89) 0.00 16 .00 Quiksilver Inc. 254.10 05/19/2003 245 .23 03/1812003 8.87 0.00 128 .00 Quiksilver Inc. 2,032.82 05/19/2003 2,130.74 04104r2003 (97 .92) 0.00 78.00 Advanced Neuromodulation Sys. 3,194.07 05/20/2003 2,977.61 01/1012003 21646 0.00 190 .00 Boston Communications Gr 3,007.76 05/20/2003 3,654.25 04/28/2003 (646 .49) 0.00 113 .00 Boston Communications Gr 1,788.83 05/20/2003 2,209.35 04/29/2003 (420 .52) 0.00 5.00 Boston Communications Gr 75 .18 05/20/2003 92 .96 04/17/2003 (17 .78) 000 15 .00 Boston Communications Gr 225 .53 05/20/2003 288 .49 04/2812003 (62 .96) 0.00 133.00 Inspire Pharmaceuticals Inc 1,942.74 05/20/2003 1,755.65 01/22/2003 87.09 0.00 45.00 Inspire Pharmaceuticals Inc 623 .48 05/20/2003 596.03 02/11/2003 27 45 0.00 40.00 Inspire Pharmaceuticals Inc 554.21 05/20/2003 609 .33 05/13/2003 (55 .12) 0.00 59.00 Inspire Pharmaceuticals Inc 817 .46 05/20/2003 89288 05/14/2003 (75 .42) 0.00 30.00 Inspire Pharmaceuticals Inc 415 .66 05/20/2003 45675 05/1612003 (41 .09) 0.00 29.00 Timberland Company - Cl. A 1,390.78 05120/2003 1,250.64 04/0412003 140.14 0.00 83 .00 Timberland Company - Cl. A 3,98050 05/20/2003 3,61467 04/07/2003 365.83 0.00 96.00 Tunberland Company - Cl. A 4,603.95 05/20/2003 4,840.13 04121/2003 (236 .18) 0.00 32 .00 Timberland Company - Cl. A 1,534.65 05/20/2003 1,626.39 05/08/2003 (91 .74) 0.00 15 .00 Quiksflver Inc. 237 .42 05/20/2003 225 .43 03/17/2003 11.99 0.00 144.00 Quiksilver Inc. 2,279.25 05/20/2003 2,207.10 03/18/2003 72.15 0.00 35 .00 Advanced Neuromodulation Sys. 1,425.49 05121/2003 1,33611 01/1012003 89.38 0.00 87 .00 Biosite Diagnostic Inc 3,833.39 05/21/2003 3,39474 03/28/2003 438.65 0.00 81 .00 Biosite Diagnostic Inc 3,56902 05/21/2003 3,321 .25 04107/2003 247.77 0.00 130.00 Connetics Corp. 2,055.50 05121/2003 1,963.26 02/20/2003 92.24 0.00 155 .00 Connetics Corp. 2,450.79 05/21/2003 2,442.96 03/14/2003 7.83 0.00 156 .00 Connetics Corp. 2,46660 05/2112003 2,54726 03/17/2003 (8066) 0.00 32 .00 Connetics Corp. 505 .97 05/21/2003 537 .22 04101/2003 (31 .25) 000 30.00 Advanced Nearomodulation Sys. 1,251.63 05/22/2003 1,145.24 01/10/2003 106.39 0.00 62 .00 Advanced Neuromodulation Sys. 2,586.70 05/2212003 2,349.72 01/14/2003 23698 0.00 55 .00 Advanced Neuromodulation Sys. 2,29466 05/22/2003 2,094.67 01122/2003 19999 0.00 94 .00 Boston Communications Gr 1,325.96 05/22/2003 1,371 .52 0312612003 (45.56) 0.00 45.00 Boston Communications Gr 71034 05/22/2003 731 .00 03/27/2003 (20.66) 0.00 85 .00 Boston Communications Gr 1,341.75 05/22/2003 1,580.31 04/17/2003 (238.56) 0.00 31 .00 Biosite Diagnostic Inc 1,368.71 05/22/2003 1,20898 01/15/2003 159.73 0.00 18 .00 Biosite Diagnostic Inc 794.74 05122/2003 69983 01/16/2003 94.91 000 22 .00 Biosite Diagnostic Inc 971 .34 05122/2003 858 .44 03/2&'2003 112 .90 0.00 7.00 Connetics Corp. 112 .82 05/2212003 105 .71 02/2012003 7.11 0.00 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 33 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

96.00 Connetics Corp . 1,547.28 05/22/2003 1,427.61 02121/2003 119 .67 0.00 4.00 Connetics Corp . 64 .47 05/22/2003 58.19 02/2412003 6.28 000 142.00 Connctics Corp . 2,288.69 05/22/2003 2,088.52 02126/2003 200.17 0.00 190.00 Connctics Corp . 3,062.33 05/2212003 2,811.09 02128/2003 251 .24 000 141 .00 Connetics Corp. 2,27257 05/22/2003 2,085.43 03/03/2003 187 .14 0.00 89 .00 Connetics Corp. 1,43446 05/22/2003 1,325.82 03/11/2003 10864 0.00 85 .00 Connetics Corp. 1,369.99 05/22/2003 1,282.75 03/12/2003 87.24 0.00 203.00 Biosite Diagnostic Inc 9,094.11 05/23/2003 7,892.56 01/1612003 1,20155 0.00 81 .00 Connetics Corp. 1,36041 05/23/2003 1,178.33 02/2412003 182 .08 000 203.00 Boston Communications Gr 3,034.71 05/27/2003 3,160.24 03/2412003 (125 .53) 0.00 80.00 Boston Communications Gr 1,195.94 05/2712003 1,268.80 03/2512003 (72 .86) 0.00 146 .00 Boston Communications Gr 2,182.60 05/27/2003 2,371.68 03/2712003 (189 .08) 0.00 69.00 Boston Communications Gr 1,031 .50 05/2712003 1,052.51 04/03/2003 (21 .01) 0.00 206.00 Boston Communications Gr 3,079.55 05/27/2003 3,255.60 04/08/2003 (176 .05) 0.00 95.00 Boston Communications Gr 1,420.18 05/27/2003 1,535.68 04109/2003 (115 .50) 0.00 156 .00 Boston Communications Gr 2,332.09 05/27/2003 2,508.40 04/10/2003 (176 .31) 0.00 66.00 Netease .corn Inc. ADR 2,059.15 05/27/2003 1,036.13 01/1612003 1,023.02 0.00 44.00 Netease .com Inc. ADR 1,372.77 05/27/2003 694.90 01/17/2003 677.87 0.00 193 .00 Netease .com, Inc. ADR 6,021.47 05/27/2003 3,415.33 01/21/2003 2,606.14 0.00 73-00 Netease .com Inc. ADR 2,277.55 05/27/2003 1,214.03 01/22/2003 1,063.52 0.00 162-00 Boston Communications Gr 2,599.98 05/28/2003 2,401.28 04/01/2003 19870 0.00 170.00 Boston Communications Gr 2,728.37 05/28/2003 2,593 13 04/03/2003 135 .24 0.00 86-00 Boston Communications Gr 1,380.23 05/28/2003 1,290.66 04104/2003 89.57 0.00 59.00 Eon Labs Inc 1,693.22 05/28/2003 1,16131 09/09/2002 531 .91 0.00 45.00 Eon Labs Inc 1,291.44 05/28/2003 902.75 09/12/2002 388 .69 0.00 104.00 Eon Labs Inc 2,98466 05/28/2003 2,468.96 03/11/2003 515 .70 0.00 47.00 Eon Labs hic 1,348.84 05/28/2003 1,257.46 03/18/2003 91 .38 000 84.00 Eon Labs Inc 2,410.69 05/2812003 2,411 .64 04/15/2003 (0.95) 000 168 .00 Netease.com Inc. ADR 5,301.83 05/28/2003 2,607.18 01/07/2003 2,694.65 0.00 88 .00 Netease.com Inc. ADR 2,777.15 05/28/2003 1,381 .51 01/1612003 1,395.64 0.00 139 .00 Pacific Sunwear Cal 2,95778 05/2812003 2,86002 03/17/2003 97.76 0.00 222.00 Pacific Sunwear Cal 4,723.94 05/28/2003 4,907.75 04/04/2003 (183 .81) 000 137 .00 Pacific Sunwear Cal 2,915.22 05/28/2003 3,199.70 04/23/2003 (284.48) 0.00 118 .00 Sma Corp 1,780.42 05/28/2003 505.25 11/18/2002 1,275.17 0.00 308.00 Sina Coip 4,647.19 05/28/2003 1,443.81 1112212002 3,203.38 000 6.00 Sina Corp 90 .53 05/28/2003 29.55 12/1112002 60.98 000 240.00 Quiksilver Lnc. 3,954.91 05/28f2003 3,606.95 03/17/2003 347.96 000 3.00 Biosite Diagnostic Inc 122 .69 05129/2003 116.64 01/1612003 6.05 0.00 7.00 Biosite Diagnostic Inc 286.29 05/29/2003 266.27 03/2612003 20.02 0.00 62.00 Biosite Diagnostic Inc 2,535.68 05/29/2003 2,391.02 0313112003 144 .66 0.00 9.00 Biosite Diagnostic Inc 368.08 05129/2003 343 .85 0410112003 24.23 0.00 74.00 Exult Inc 510.58 05/2912003 570-92 03114122003 1,600.34) 0.00 0 0

Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 34 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss Premium Discount)

171 .00 Exult Inc 1,179.84 05/29/2003 1,332.16 03/17/2003 (152.32) 000 101 .00 Exult Inc 69687 05/2912003 779.81 03/18/2003 (8294) 000 90.00 Exult Inc 620.97 05/29/2003 70812 03/19/2003 (87 .15) 0.00 97.00 Exult Inc 669.27 05/29/2003 768 .29 03120/2003 (99.02) 0.00 21 .00 Inspire Pharmaceuticals Inc 266 .19 05/29/2003 277 .21 01/22/2003 (11 .02) 0.00 8.00 Inspire Pharmaceuticals Inc 101 .41 05/29/2003 10214 01/3112003 (0.73) 0.00 202.00 Inspire Pharmaceuticals Inc 2,560.51 05129/2003 2,629.37 02110/2003 (68 .86) 000 250.00 Marvel Enterprises Inc. 5,17306 05129/2003 2,748.18 01/0812003 2,424.88 000 85.00 Marvel Enterprises Inc. 1,758.84 05/29/2003 941 .81 01/15/2003 817 .03 000 124 .00 Marvel Enterprises Inc 2,565.84 05/29/2003 1,380.45 01/29/2003 1 .185 .39 0.00 309.00 Marvel Enterprises Inc. 6,393.90 05/29/2003 3,47412 02/03/2003 2,919.78 000 157.00 Pacific Sunwear Cal 3,392.61 05/29/2003 2,88227 ONOV2003 51034 000 182.00 Pacific Sunwear Cal 3,932.83 05129/2003 3,32902 03/05/2003 603 .81 000 153.00 Pacific Sunwear Cal 3,306.17 05/2912003 2,90290 03/07/2003 403 .27 0.00 11.00 Pacific Sunwear Cal 237 .70 05129/2003 226.33 03/17/2003 11 37 0.00 501 .00 Sina Corp 7,665.78 05129/2003 2,145 15 11/18/2002 5,52063 0.00 63 .00 Quiksilver Inc. 1,043.22 05/29/2003 94682 03/17/2003 96.40 000 15.00 Biositc Diagnostic Inc 622.47 05/30/2003 295 .05 09/0312002 327 .42 0.00 100.00 Biosite Diagnostic Inc 4,14982 05/30/2003 2,50011 09/10/2002 1,64971 000 78.00 Biosite Diagnostic Inc 3,236.86 05/3012003 2,72398 12/17/2002 512.88 000 57.00 Biosite Diagnostic Inc 2,365.40 05/30/2003 2,056.77 12/2412002 308 .63 0.00 119.00 Biosite Diagnostic Inc 4,938.29 05/30/2003 4,400.17 01/06/2003 538.12 000 75.00 Biosite Diagnostic Inc 3,112.37 05/30/2003 2,846.11 01/07/2003 26626 000 89.00 Biosite Diagnostic Inc 3,693.34 05/30/2003 3,338.86 01/13/2003 354.48 000 205.00 Biosite Diagnostic Inc 8,507.14 05/30/2003 7,798.00 03/2612003 709.14 000 374.00 Exult Inc 2,444.46 05/30/2003 2,637.78 03/03/2003 (193 .32) 0.00 262.00 Exult Inc 1,712.43 05/30/200.1 1,901.81 03/04/2003 (189 .38) 0.00 233 .00 Exult Inc 1,522.89 05/3=003 1,629.37 03/05/2003 (10648) 000 201 .00 Exult Inc 1,313.73 05/3012003 1,488.06 03/06/2003 (17433) 000 250-00 Exult Inc 1,634.00 05/30/2003 1,856.23 03/11/2003 (222 .23) 0.00 79 .00 Exult Inc 516.34 05/3012003 60950 03/14/2003 (93 .16) 0.00 259-00 Exult Inc 1,69282 05/3012003 1,877.00 04/01/2003 (184.18) 0.00 145.00 Exult Inc 947.72 05/30/2003 1,053.11 0410212003 (105 .39) 000 58 .00 Inspire Pharmaceuticals Inc 726.87 05/3012003 74053 01/31/2003 (1366) 0.00 85 .00 Inspire Pharmaceuticals Inc 1,06524 05/30/2003 1,06590 02/03/2003 (0 .66) 000 206.00 Marvel Enterprises Inc. 4,489.20 05/30/2003 2,264.50 01/08/2003 2,22470 0.00 48 .00 Marvel Enterprises Inc. 1,046.03 05/3012003 525 .18 01/14/2003 520.85 0.00 82 .00 Sma Corp 1,288.90 05/30/2003 351 .10 11/ 1 W002 937 .80 0.00 32 .00 Inspire Pharmaceuticals Inc 40230 06102/2003 394 .61 01/16(2003 7.69 0.00 76.00 Inspire Pharmaceuticals Inc 955.46 06102/2003 953 .04 02/03/2003 2.42 0.00 128 .00 Inspire Pharmaceuticals Inc 1,609.19 W0212003 1,559.49 02/0412003 49.70 0.00 6.00 Netease.com Inc. ADR 190 .49 06/02/2003 93.11 01/07/2003 97 .38 0.00 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 35 Gains and Loss Reportfrom: 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouand Security Description Proceedg Date Cost Date Gain (- Loss) Premium Discount

77 .00 Netease .corn Inc. ADR 2,444.67 06tO2/2003 1,179.89 01/08/2003 1,264.78 000 166 .00 Netease .corn Inc. ADR 5,270.33 06/02/2003 2,461 .43 02/19/2003 2,808.90 0.00 232 .00 Pacific Sunwear Cal 5,254.55 0610212003 3,80835 11/13/2002 1,446.20 0.00 93.00 Pacific Sunwear Cal 2,106.35 06/02/2003 1,578.21 11/25/2002 528 .14 0.00 147 .00 Pacific Sunwear Cal 3,329.39 06102/2003 2,61746 11/27/2002 711 .93 0.00 2.00 Pacific Sunwear Cal 45 .30 O&OV2003 000 12/31/2002 45.30 0.00 28.00 Pacific Sunwear Cal 634.17 06102/2003 512.16 03/05/2003 12201 0.00 13 .00 Inspire Pharmaceuticals Inc 157 .29 06t03/2003 15839 02tO4/2OO3 (1 .10) 0.00 49.00 Portfolio Recovery Associate 1,377.93 06tO3/2003 1,18682 02/11/2003 191 .11 0.00 78.00 Portfolio Recovery Associate 2,193.44 06tO3/2003 1,827.50 02/12/2003 365.94 0.00 70.00 Portfolio Recovery Associate 1,968.47 06103/2003 1,619.25 02/1412003 349 .22 0.00 26.00 Portfolio Recovery Associate 731 .15 06t03/2003 635 .39 02/26t2003 95.76 0.00 95.00 Portfolio Recovery Associate 2,671.49 06t03/2003 2,222.88 03/0412003 448.61 0.00 81 .00 Portfolio Recovery Associate 2,277.80 06103/2003 1,790.11 03/10/2003 487.69 000 145.00 Portfolio Recovery Associate 4,077.54 06103/2003 4,170.37 05/22/2003 (92 .83) 0.00 44.00 Portfolio Recovery Associate 1,237.32 06t03/2003 1,347.37 05/2812003 (110 .05) 000 162.00 Portfolio Recovery Associate 4,555.60 06103/2003 5,218.70 05/29/2003 (663 .10) 0.00 58.00 Sina Corp 913 .46 06103/2003 233 .26 11/15/2002 680.20 0.00 135.00 Sma Corp 2,126.15 06/0312003 578 .04 11/18/2002 1,548.11 0.00 274.00 Sma Corp 4,315.29 06103/2003 1,159.02 11/19/2002 3,156.27 0.00 38 .00 Portfolio Recovery Associate 1,045.40 W0412003 836.57 02tl3/2003 208.83 0.00 108.00 Portfolio Recovery Associate 2,971.13 06tO4/2003 2,386.81 03/10/2003 584.32 0.00 76.00 Portfolio Recovery Associate 2,090.80 06tO4/2003 1,639.49 03/14/2003 451 .31 0.00 71.00 Portfolio Recovery Associate 1,953.24 06tO4/2003 1,444.50 03/17/2003 508.74 000 43.00 Portfolio Recovery Associate 1,182.95 06tO4/2003 882 .05 03/18/2003 300.90 000 119 .00 Sma Corp 1,951.26 06tO4/2003 478.59 11/15/2002 1,472.67 0.00 201 .00 Digene Corporation 5,199.10 06/05/200 4,865.16 05/07/2003 333 .94 0.00 117 .00 JetBlue Airways Corp 4,114.02 06tO5/2003 3,670.13 0025/2003 443 .89 000 221 .00 Netscreen Technologies 4,996.57 06105/2003 2,449.90 08/01/2002 2,546.67 0.00 111 .00 Netscreen Technologies 2,509.59 06105/2003 2,350.66 04/24/2003 158 .93 0.00 63.00 Netscreen Technologies 1,424.36 06(05/2003 1,315.12 04125/2003 109 .24 0.00 144 .00 Netscreen Technologies 3,255.69 06/0512003 3,183.68 05/14/2003 7201 0.00 12 .00 Netease .com Inc. ADR 408.90 06(05/2003 154 .65 01/03/2003 254.25 0.00 135 .00 Netease .corn Inc. ADR 4,600.14 06tO5/2003 1,953.27 02/18/2003 2,646.87 000 71 .00 Netease.corn Inc. ADR 2,419.33 06105/2003 1,052.78 02/19/2003 1,36655 000 159.00 Research in Motion Inc 3,276.77 06tO5/2003 3,196.57 05/23/2003 80.20 0.00 28.00 Timberland Company - Cl. A 1,420.29 06105/2003 1,198.69 04/03/2003 221 .60 0.00 36.00 Timberland Company - Cl. A 1,826.08 06105/2003 1,552.52 04/04/2003 273 .56 0.00 99.00 Timberland Company - Cl. A 5,021 .73 06/05/2003 4,248.81 04/11/2003 772.92 0.00 59.00 noratec Labs Inc 830.85 06tO5/2003 836.07 05/14/2003 (5.22) 0.00 91 .00 Digene Corporation 2,438.12 06tOW2003 2,202.64 05/0712003 235 .48 0.00 136 .00 Timberland Compan. y - C1. A 6,799.38 06/06/2003 5,732.54 ON21/200-34 1,066.84 0.00 0 0

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount

36.00 Timberland Company - Cl. A 1,799.83 0610612003 1,541 .17 04/03/2003 258 .66 000 23 .00 Timberland Company - Cl. A 1,149.10 06109/2003 969.47 03/21/2003 17963 0.00 34.00 Timberland Company - Cl. A 1,698.68 06109/2003 1,41213 03125/2003 286.55 0.00 9600 Timberland Company - Cl. A 4,796.26 06/09/2003 4,035.67 03/27/2003 760.59 0.00 168 .00 Digital River Inc. 2,98024 06/1012003 3,269.85 05/29/2003 (289 .61) 0.00 7200 Digital River Inc. 1,277.25 06/1012003 1,424.82 06t0212003 (147 .57) 0.00 8.00 Packeteer Inc 11789 06/10/2003 121-84 05/19/2003 (3.95) 0.00 164.00 Packeteer Inc 2,41679 06/1012003 2,71835 05/29/2003 (301 .56) 000 37 .00 Sepracor Inc. 871 .31 06tlO/2003 702.74 04/23/2003 168 .57 000 68.00 Sepracorlnc . 1,601.32 06tlO/2003 1,48648 05114/2003 114 .84 0.00 128 .00 Sepracor Inc. 3,01426 06tlO/2003 2,696.35 05/15/2003 317.91 000 43.00 Packeteer Inc 629.45 06/11/2003 650.21 05/16/2003 (20 .76) 000 75.00 Packeteer Inc 1,097.88 06111/2003 1,142-27 05/19/2003 (4439) 0.00 23 .00 Packeteer Inc 336.68 06t 11/2003 34386 05/2012003 (7.18) 000 39.00 Sepracor Inc. 932.24 06111/2003 628.40 04/0212003 303.84 0.00 288 .00 Sepracor Inc. 6,884.23 06t 11/2003 5,469.96 04/23/2003 1,414.27 0.00 147 .00 Digital River Inc. 2,612.02 06/12t2OO3 2,517.89 04/29/2003 9413 0.00 147 .00 Digital River Inc. 2,612.02 06112/2003 2,706.40 05/0512003 (94 .38) 0.00 147 .00 Digital River Inc. 2,61202 06/12/2003 2,66471 05/06/2003 (5269) 0.00 12 .00 Digital River Inc. 213 .23 0611212003 23340 05/13/2003 (2017) 000 115 .00 Digital River Inc. 2,043.42 0611212003 2,21863 05/1412003 (175 .21) 000 88 .00 Digital River Inc. 1,563.66 06/12/2003 1,693.69 05/15/2003 (13003) 000 48.00 Digital River Inc. 852.91 06tl2/2003 934.24 05129/2003 (81 .33) 000 186.00 Packeteer Inc 2,677.94 06tl2(2003 2,780-76 05120/2003 (102 .82) 0.00 319 .00 Realnetworks Inc 2,154.26 06tl2/2003 2,877.83 05/29/2003 (723 .57) 0.00 312.00 Realnetworks Inc 2,106.99 06112/2003 2,633.53 06tO2/2003 (526.54) 0.00 19.00 Sepracor Inc. 450.70 06112/2003 276.15 03/1812003 174 .55 000 32.00 Sepracor Inc. 759.07 06tl2/2003 515 .61 04/02/2003 243 .46 0.00 105.00 Sepracor Inc. 2,49070 06/1212003 1,672.15 04/03/2003 818 .55 0.00 168 .00 Netease .com Inc. ADR 5,649.00 06fl3/2003 2,165.13 01/03/2003 3,483.87 0.00 5.00 Oninivision Technologies 150 .29 06t 13/2003 9422 12/11/2002 56.07 000 578.00 Omnivision Technologies 17,373 11 W13/2003 11,069.05 12/12t2002 6,304.06 000 185 .00 Sepracor Inc. 4,213.47 06t 13/2003 2,688.79 03/1 W2003 1,524.68 000 226.00 Medicines Company 5,11639 OW1612003 5,221 10 05/2712003 (104.71) 000 18 .00 Netease .com Inc ADR 602.97 W1612003 231 .98 01/0312003 370.99 0.00 82 .00 Netease .com Inc. ADR 2,746.87 06116/2003 1,005-72 02/14/2003 1,741.15 0.00 181 .00 Netease.com Inc. ADR 6,063.21 06116(2003 2,21486 03/0312003 3,848.35 0.00 73.00 Oninivision Technologies 2,176.15 06/1612003 1,341.91 11/26r2002 834.24 0.00 41.00 Omnivision Technologies 1,222.22 06tl6t2003 772.58 12tl 1/2002 449.64 000 79.00 Omnivision Technologies 2,355.01 06tl6/2003 1,416.05 02t2O/2003 938 .96 0.00 90.00 Sepraoor Inc. 2,052.05 06/16t2003 1,26306 01/13/2003 788 .99 0.00 12.00 Sepracor Inc. 273.61 06116/2003 174.41 03/18/2003 99.20 0.00 Dfiehaus Capital Management Friday January 23, 2004 16:54:16 Page 37 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount) 1.00 Cash in Lieu - Short Term 0.03 06117/2003 000 06117/2003 0.03 0.00 7.00 Foundry Networkd Inc. 103 .79 06tl7/2003 105 .36 05/27/2003 (1.57) 0.00 199.00 Foundry Networkd Inc. 2,950.53 06117/2003 3,120.12 WOV2003 (169.59) 000 209.00 Omnivision Technologies 6,318.15 06117/2003 3,74626 02/2012003 2,571.89 0.00 73.00 Sepracor Inc. 1,702.80 06/17/2003 1,024.48 01/13/2003 678 .32 000 698 .00 Sonus Network 3,09883 06/17/2003 3,82120 0610412003 (722.37) 0.00 446.00 Foundry Networkd Inc. 6,634.78 06/18/2003 6,712.84 05/2712003 (7806) 0.00 48.00 Foundry Networkd Inc. 714.06 06118/2003 717 .39 05/2812003 (3.33) 0.00 30.00 Medicines Company 654.57 06118/2003 658 .32 05/19/2003 (375) 000 96.00 Medicines Company 2,094.62 06118/2003 2,217.81 05/27/2003 (123 .19) 000 152 .00 Ornnivision Technologies 4,679.88 06/18/2003 2,724.55 02/20/2003 1,955.33 0.00 108 .00 Sepracor Inc. 2,420.70 O6/l8f2OO3 1,51567 01/13/2003 905 .03 0.00 533 .00 Sonus Network 2,466.71 06/18/2003 2,426.96 05129/2003 39 .75 000 383 .00 Sonus Network 1,772.51 06118/2003 1,757.17 05/30t2003 15.34 000 122.00 Sonus Network 564.61 06/18/2003 667 .89 06/04/2003 (103 .28) 0.00 1.00 Cash in Lieu - Short Term 7.93 06/19/2003 0.00 06119/2003 793 0.00 38 .00 Sepracor Inc. 807 .82 06t 19/2003 533 .29 01/13/2003 274 .53 0.00 40.00 Sepracor Inc. 850.33 06119/2003 559 .54 01/1412003 290 .79 0.00 1.00 Cash in lieu - Short Term 13 .23 06t2O/2003 0.00 06t2O/2003 13.23 0.00 181 .00 Netease .corn Inc. ADR 5,680.70 06/2012003 2,173.92 12/2012002 3,506.78 0.00 129 .00 Netease .com. Inc. ADR 4,048.68 06t2O/2003 1,567.84 01/0212003 2,480.84 0.00 129 .00 Netease .com Inc. ADR 4,048.68 06120/2003 1,53242 02/13/2003 2,516.26 0.00 4.00 Netease .oom. Inc. ADR 125 .54 06/20/2003 48.95 03/03/2003 76 .59 000 149 .00 Sepracor Inc. 2,951.55 06120/2003 2,09429 01/14/2003 867 .26 0.00 1 .00 Cash in lieu - Short Term 13 .23 06123/2003 000 06123/2003 1323 000 12 .00 Medicines Company 234.68 06t24/2003 260.83 04129/2003 (26.15) 000 134 .00 Medicines Company 2,620.60 06a4/2003 2,940.50 05/19/2003 (319.90) 0.00 160 .00 Micromuse, Inc. 1,258.04 06124/2003 1,516.00 0512912003 (257 .96) 0.00 261 .00 Micromuse, Inc. 2,052.17 OW412003 2,508.21 06/06/2003 (456.04) 0.00 94.00 Micromuse, Inc. 739.10 O&r24nOO3 919.82 06/18/2003 (180.72) 0.00 178.00 Micromuse, Inc. 1,399.57 06t24/2003 1,729.16 06/19/2003 (329.59) 0.00 119.00 Sepracor Inc. 2,212.70 06C4/2003 1,664.63 01/14/2003 548.07 0.00 24.00 Sepraeor Inc. 446.26 06/2412003 314 .15 01/2212003 132 .11 0.00 148.00 Medicines Company 3,208.85 06125/2003 3,21693 04/29/2003 (8.08) 000 22.00 Micromuse, Inc. 173 .79 06/2512003 207 .69 05/28/2003 (33 .90) 0.00 239.00 Micromuse, Inc. 1,888.01 06r25/2003 2,26453 05/29/2003 (37652) 000 87 .00 Sepracor Inc. 1,629.91 06r25/2003 1,138.79 01/2212003 491 .12 0.00 435 .00 Micromuse, Inc. 3,425.67 06t26(2003 4,106.53 05/2812003 (680.86) 0.00 338 .00 Advanced Digital Info. Corp. 3,394.10 06127/2003 3,692.79 05/27/2003 (298 .69) 000 116.00 Advanced Digital Info. Corp. 1,164.94 0612712003 1,273.45 0610612003 (108 .61) 0.00 146.00 Ascential Software Corp 2,464.20 06t27/2003 2,413.04 04/2512003 51 .16 0.00 134.00 Ascential Software- Co-, 2,261 .67 0612712003 2,3669.01 312003 (1 V-1 .3 4) 0.-

0 0 0 0 0 0 0 0 0 0

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount

52 .00 Ascential Software Corp 877.66 06127/2003 919.73 06t 1612003 (42 .07) 0.00 20-00 Ascential Software Corp 337.56 06/27/2003 373.96 06tl7/2003 (3640) 0.00 97-00 Centillium Communications Inc 967.84 06/27/2003 1,031 .65 05128/2003 (63 .81) 0.00 268-00 Foundry Networkd Inc 3,893.77 06/27/2003 3,730-08 05/15/2003 163 .69 000 273-00 Foundry Networkd Inc. 3,966.42 06f27/2003 4,080.18 05/28n003 (113 .76) 000 181-00 Micromuse, Inc. 1,43164 06/2712003 1,708.69 05/28/2003 (277 .05) 000 324 .00 Micromuse, Inc. 2,562.71 06/27/2003 2,964.60 06102/2003 (401 .89) 0.00 191-00 Micromuse, Inc. 1,510.74 06127/2003 1,75529 06tO9/2003 (244.55) 000 140 .00 Marvel Enterprises Inc. 2,641-03 06t27/2003 1,531 .77 01/14/2003 1,109.26 000 325-00 Marvel Enterprises Inc. 6,13096 06/27/2003 3,530.54 01/2812003 2,60042 0.00 173-00 Priceline.com Inc 3,755.37 06127/2003 4,598.65 06tl3/2003 (943 .28) 0.00 126 .00 Sepracor Inc. 2,330-94 06t27/2003 1,649.28 01/22/2003 681 .66 000 690.00 Sonus Network 3,404.70 06t2712003 2,858.48 05/15/2003 54622 000 159 .00 Sonus Network 78456 06/27/2003 723.99 05/29/2003 60.57 000 1,283-00 Vitesse Semiconductor Corp. 6,190.69 06/27/2003 6,751 .07 06tO2/2003 (560.38) 0.00 80-00 Westel Technologies Inc - A 665.10 0&2712003 718.54 06113/2003 (53 .44) 0.00 187-00 Westel Technologies Inc. - A 1,55466 06t27/2003 1,693.70 06/18t2003 (13904) 000 88 .00 Westel Technologies Inc. - A 731 .61 06t27/2003 879.72 06tl9/2003 (148.11) 000 234.00 Advanced Digital Info. Corp, 2,334.40 OWW2003 2,556.54 05127/2003 (22214) 0.00 135-00 Centillium Communications Inc 1,305.10 06f3Of2OO3 1,43581 05128n003 (130.71) 0.00 71 .00 Sepracor Inc. 1,272.44 06/30/2003 929.35 01/22J2003 343 .09 000 46.00 Sepracor Inc. 824.40 06/30/2003 580.92 03/03/2003 243 .48 000 20900 Sonus Network 1,009.27 0660/2003 764.14 04/21/2003 245 .13 000 240.00 Sonus Network 1,158.97 066012003 994.25 05/15/2003 16472 000 356 .00 Vitesse Semiconductor Corp. 1,743.28 06/30/2003 1,873.25 06102/2003 (129.97) 0.00 111 .00 Aka-ai Technologies Inc 48394 07/01/2003 577.87 06/12t2003 (9393) 0.00 73.00 Aka-ai Technologies Inc 318.26 07/01/2003 38691 06/17/2003 (6865) 000 87 .00 Akamai Technologies Inc 379.30 07/01/2003 46314 OW1812003 (83.84) 0.00 56.00 Ak-amai Technologies Inc 244.15 (Y710112003 327.00 06tl9/2003 (82.85) 000 195.00 Akamai Technologies Inc 85016 07/01/2003 1,112.73 OWW2003 (26257) 000 82.00 Alcamai Technologies Inc 357 .50 07/0112003 444.82 06/2312003 (87 .32) 0.00 640.00 Anba Inc 1,80269 07/01r-003 2,483.73 05/15/2003 (681004) 0.00 250.00 Ascential Software Corp 4,09lo63 07/01/2003 4,131 .91 04/25/2003 (4028) 000 21 .00 Ascential Software Corp 343 .70 07/01/2003 342o47 0512912003 lo23 000 223-00 Centillitim Communications Inc 2,13177 07/0112003 2,371 .74 05t28f2003 (23997) 000 182 .00 Fremont Gen Corp 2,459o2l 07/01/2003 2,279.60 06/04/2003 179 .61 000 66.00 K-Swiss Inc. - Cl. A 2,236.58 07/01/2003 2,355.80 06t]3/2003 (119.22) 0000 251000 Marvel Enterprises Inc. 4,70427 07/01/2003 2,568.66 01/07/2003 2,13561 0.00 75.00 Marvel Enterprises Inc. 1,405-66 07/01/2003 81434 01/28/2003 590092 000 11-00 Pricefine.com, Inc 238.07 07/01/2003 287.93 05/2912003 (49.86) 0.00 24.00 Pncehne .com Inc 519 .44 07/01/2003 637.96 06tl3/2003 (118 .52) 0.00 71-00 Proassurance Corp 1,961.41 07/01/2003 2,025.35 06106t2003 (63 .94) 0.00 Driehaus Capild Management Friday January 23, 2004 16:54:16 Page 39 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Pren-durn Discount) 145.00 Proassurance Corp 4,005.70 07/01/2003 4,239.31 06112/2003 (233 .61) 000 5.00 Proassurance Corp 138 13 07/0112003 14478 0611312003 (665) 0.00 8000 Proassurance Corp 2,210.04 07/01/2003 2,392.58 06/1612003 (182 .54) 000 86.00 Proassurance Corp 2,375.79 07/01/2003 2,621.71 06t27/2003 (245 .92) 000 111.00 Proassurance Corp 3,066.43 07/01/2003 3,169.93 06/30/2003 (103.50) 000 262 .00 Sepracor Inc. 4,744.59 07/01/2003 3,308.69 03IO3f2OO3 1,435.90 0.00 320.00 Sonus Network 1,53352 07/01/2003 1,169.98 04/21/2003 363 .54 000 470.00 Vitesse Semiconductor Corp. 2,170.54 07/01/2003 2,473.11 06102/2003 (302.57) 000 389 .00 Vitesse Semiconductor Corp. 1,796.47 07/01/2003 2,001.95 06t 13/2003 (205.48) 0.00 78.00 Vitesse Semiconductor Corp 360.22 07/01/2003 408.71 06116t2003 (48.49) 000 256 .00 Westel Technologies Inc. - A 2,145.50 07/01/2003 2,299.32 06113/2003 (153 .82) 000 292 .00 Akam-ge Technologies Inc 1,346.64 07/0212003 1,483.33 0611112003 (136 .69) 0.00 164.00 Akamai Technologies Inc 756.33 07/02t2003 853.78 06tl2/2003 (97 .45) 0.00 20.00 Aknmai Technologies Inc 92 .24 07/02/2003 103 .29 W1612003 (11 .05) 0.00 365 .00 Ariba Inc 1,061.03 (Y7/0212003 1,206.17 11/08/2002 (145 .14) 0.00 81 .00 Ariba Inc 235 .46 07/02/2003 314.35 05/15/2003 (78 .89) 0.00 32 .00 Ascential Software Corp 549 .74 (17/02/2003 519.43 05/28/2003 30.31 000 32 .00 Ascential Software Corp 54974 07/02/2003 520.79 05/28/2003 28.95 0.00 82 .00 Ascential Software Corp 1,408.72 07/02/2003 1,337.28 05/29f2OO3 7144 0.00 495 .00 CentilLium. Communications Enc 4,929.96 07/02/2003 5,264.62 05/28/2003 (334 .66) 0.00 363 .00 Centillium Communications Inc 3,615.31 07/02/2003 3,555.73 0610412003 59.58 0.00 144 .00 Fremont Gen Corp 1,958.94 07/02/2003 1,739.55 06tO3/2003 219.39 000 165 .00 Fremont Gen Corp 2,2" 62 (Y7/02f2003 2,06667 06104/2003 177 .95 000 18 .00 Gen-probe Inc 774.14 07/02/2003 670.32 05/16/2003 103 .82 0.00 88 .00 Gen-probe Inc 3,784.70 07/02/2003 3,353.68 06102/2003 431 .02 0.00 69.00 Gen-probe Inc 2,967.55 07102/2003 2,589.57 06tlO/2003 377.98 000 82.00 K-Swiss Inc. - Cl. A 2,805.04 07/02f2003 2,697.57 05f29f2OO3 107 .47 0.00 84 .00 K-Swiss Inc. - Cl. A 2,873.45 07/02/2003 2,975.37 06112/2003 (101 .92) 0.00 12 .00 K-Swiss Inc. - Cl. A 410.49 07/02/2003 428.33 06113/2003 (17 .84) 000 12 .00 Martek Biosciences Corp 536.05 07/02/2003 299.64 01/02/2003 236.41 0.00 70.00 Martek Biosciences Corp 3,126.95 07/0212003 1,856.09 01/07f2003 1,270.86 0.00 16 .00 Martek Biosciences Corp 714.73 07/02/2003 458.72 03/31/2003 25601 000 86.00 Martek Biosciences; Corp 3,841.68 07/02/2003 3,255.69 06104/2003 585.99 0.00 168 .00 Marvel Enterprises Inc. 3,150.22 07/02/2003 1,4" .80 12/18/2002 1,705.42 0.00 53.00 Marvel Enterprises Inc. 993.82 07/02/2003 542.39 01/07/2003 451 .43 0.00 36.00 New Century FmI Corp 1,495.84 07/02/2003 1,692.49 05/27/2003 (196 .65) 000 113 .00 New Century Finl Corp 4,695.28 07/02/2003 5,331 .72 06(16t2OO3 (636 .44) 0.00 134 .00 Priceline.corn Inc 3,027.85 07/02/2003 3,497.49 05127/2003 (469 .64) 0.00 78.00 Priceline.corn Inc 1,762.48 07/02/2003 2,041.68 05/29/2003 (279-20) 0.00 35.00 Proassurance Corp 990.31 07/02/2003 984.28 05/29/2003 6.03 0.00 7.00 Proassurance Corp 198 .06 07/0212003 199 .68 06(06t2003 (1 .62) 0.00 73.00 Proassurance Co-ij, 2,065.5 1 0-7/021-2003 2,062.37 06109rL003 3.14 0.00

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74.00 Proassurance Corp 2,093.80 07/02/2003 2,102.10 06110/2003 (830) 0.00 364.00 Sonus Network 1,831.01 07/0212003 1,330.85 04/21/2003 50016 000 382.00 Sonus Network 1,921.56 07/02r2003 1,37102 05/06/2003 550.54 0.00 127.00 United Online Inc 3,331.04 07/02/2003 3,21568 06104/2003 115 .36 0.00 146.00 United Online Inc 3,829.38 07/0212003 3,61404 06113/2003 215 .34 0.00 74.00 United Online Inc 1,940.92 07/02/2003 1,838.40 0611612003 102 .52 0.00 493.00 Vitesse Semiconductor Corp. 2,428.15 07/02/2003 2,429.31 06(03/2003 (1 .16) 000 268.00 Vitesse Semiconductor Corp. 1,31997 07/02/2003 1,379.24 06fl312003 (59 .27) 0.00 48.00 Westel Technologies Inc. - A 431 .72 07/02/2003 42469 06/09/2003 7.03 000 166.00 Westel Technologies Inc. - A 1,493.04 07/02/2003 1,490.96 06113/2003 208 000 34.00 Abmai Technologies Inc 154.35 07103/2003 172 .72 06/1112003 (18 .37) 000 176.00 Centilliurn Communications Inc 1,765 19 07/03/2003 1,647.48 05/15/2003 11731 0.00 20.00 Centilliurn Commiinications Inc 200.59 07/03/2003 195 .91 06104/2003 468 000 79.00 Proassurance Corp 2,214.30 07/03/2003 2,221 .67 05/29/2003 (7 .37) 0.00 127 .00 Sonus Network 64829 07/03/2003 455.81 05/06t2003 192 .48 0.00 23 .00 Akamai Technologies Inc 111 .66 07/07/2003 116 .84 06111/2003 (5 18) 0.00 309 .00 Ariba Inc 916.22 07/08/2003 924.93 11/0612002 (8 .71) 000 623 .00 Ariba hic 1,847.26 07/08/2003 1,829.25 11/07/2002 18.01 0.00 145 .00 Ariba Inc 429.94 07/08/2003 479.16 11/08/2002 (49.22) 0.00 54.00 Gen-probe Inc 2,522.52 07/0812003 1,870.56 05/09/2003 651.96 000 87.00 Gen-probe Inc 4,064.07 07/08/2003 3,239.88 05/1612003 824 .19 0.00 96.00 Gen-probe Inc 4,484.49 07/08/2003 3,46464 05/21/2003 1,01985 0.00 439.00 Marvel Enterprises Inc. 8,597.14 07/08/2003 3,775.40 12/18/2002 4,821.74 0.00 113-00 New Century FinI Corp 4,867.80 07/08/2003 4,699.11 05/06f2003 16869 0.00 78.00 New Century Finl Corp 3,360.07 07/08/2003 3,667.07 05/27/2003 (30700) 0.00 49.00 New Century Fin] Corp 2,110.82 07108/2003 2,295.78 05/30/2003 (18496) 000 162.00 Netease.corn Inc. ADR 6,275.58 07/08/2003 1,872.04 12/27/2002 4,403.54 0.00 76.00 Netease corn Inc. ADR 2.944 .10 07/0812003 866.45 12/3112002 2,077.65 000 28.00 Netease.com Inc. ADR 1,094.67 07/08/2003 332.62 02/13/2003 752.05 000 37 .00 Proassurance Corp 1,069.82 07/08/2003 994.46 05/19/2003 75.36 0.00 32-00 Proassurance Corp 925.25 07/08/2003 894.69 05/28/2003 3056 0.00 11-00 Proassurance Corp 318.06 07/08/2003 309.35 05/29/2003 8.71 0.00 165.00 New Century FW Corp 7,138.96 07/09/2003 6,861.53 05/0612003 277.43 0.00 111.00 Netease.corn Inc. ADR 4,574.74 07/09/2003 1,265.48 12/31/2002 3,309.26 000 62-00 Proassurance Corp 1,745.95 07109/2003 1,309.37 12/23/2002 436.58 0.00 27 .00 Proassurance Corp 76033 07/09/2003 569 .61 12127/2002 19072 0.00 10.00 Proassurance Corp 281 .60 07/09/2003 211 .46 01/17/2003 70.14 0.00 28 .00 Proassurance Corp 788 .49 07/0912003 75256 05/1912003 3593 0.00 51 .00 Foundry Networkd Inc. 86867 07/10/2003 70983 05/15/2003 158.84 0.00 306.00 Foundry Networkd Inc. 5,212.00 07/1012003 4,249.67 05/21/2003 96233 0.00 11 .00 Netease .com Inc. ADR 445.37 07/10/2003 125 .41 12/3112002 319.96 000 103-00 Netease.corn Inc. ADR 4,170.30 07/10/2003 1,172.90 03/1212003 2,997.40 0.00 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 41 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

9.00 Proassurance Corp 248 83 07/10/2003 189.87 12/27/2002 5896 0.00 115 .00 Proassurance Corp 3,179.51 07/10/2003 2,407.23 12/3012002 772.28 0.00 9.00 Proassumnce Corp 251 .05 07/1112003 183.35 12/1&12002 67.70 0.00 66.00 Proassurance Corp 1,841.05 07/11/2003 1,358.02 12/1912002 483.03 0.00 5.00 Proassurance Corp 139.47 07/11/2003 104.66 12/3012002 34.81 0.00 214.00 Sonus Network 1,44445 07/11/2003 719.53 04/1612003 724.92 0.00 625.00 Sonus Network 4,21861 07/11/2003 2,079.30 0412912003 2,139.31 0.00 546.00 Sonus Network 3,685.38 07/11/2003 1,959.63 05/0612003 1,725.75 0.00 318.00 Sonus Network 2,146.43 07/1112003 1,990.68 0710M2003 155.75 0.00 255 .00 Foundry Networkd Inc. 4,49082 07/14/2003 3,442.96 05/19/2003 1,047.86 0.00 108.00 Foundry Networkd Inc 1,901.99 07/14/2003 1,499.88 05/21/2003 402.11 0.00 31 .00 Proassurance Corp 863 .23 07/1412003 626.40 12/02/2002 236.83 000 53 .00 Proassurance Corp 1,475.84 07/14/2003 1,065.30 12/1112002 410.54 0.00 12.00 Proassurance Corp 334.15 07/14/2003 244.47 12/1812002 89.68 0.00 131.00 Sonus Network 951 .34 07/14/2003 412.90 04/14/2003 538.44 0.00 358.00 Sonus Network 2,599.85 07/14/2003 1,164.47 04/15/2003 1,435.38 0.00 576.00 Sonus Network 4,183.00 07/14/2003 1,772.19 04125/2003 2,410.81 0.00 418.00 Sonus Network 3,035.58 07/14/2003 1,266.51 0412&'2003 1,769.07 000 143.00 Sonus Network 1,038.49 07/14/2003 475.74 04/29/2003 562.75 0.00 47.00 Proassurance Corp 1,329.84 07/1512003 940.00 11/29/2002 389.84 0.00 21 .00 Proassurance Corp 59419 07/15/2003 418.55 12/04/2002 175.64 0.00 98.00 Proassurance Corp 2,77287 07/15/2003 1,96974 12/10/2002 803.13 0.00 71 .00 Proassurance Corp 2,008.91 07/15/2003 1,427.10 12/11/2002 581 .81 000 951 .00 Sonus Network 6,782.40 07/15/2003 2,737.95 04/1012003 4,044.45 0.00 649 .00 Sonus Network 4,628.58 07/15/2003 1,866.97 04/11/2003 2,761.61 0.00 188.00 Sonus Network 1,340.79 07/15/2003 569.63 04/28/2003 771 .16 0.00 129.00 Vitesse Semiconductor Corp . 87876 07/15/2003 428.44 11125/2002 450.32 0.00 38 .00 Vitesse Semiconductor Corp . 258 .86 07/15/2003 156.93 05/13/2003 101 .93 0.00 366.00 Vitesse Semiconductor Corp . 2,493.22 07/15/2003 1,598.25 05/1412003 894.97 0.00 435 .00 Vitesse Semiconductor Corp . 2,963.25 07/1512003 2,024.88 05/15/2003 938.37 0.00 47.00 Vitesse Semiconductor Corp . 320.17 07/15/2003 231 .60 06103/2003 88.57 0.00 315 .00 Foundry Networkd Inc. 5,264.03 07/16/2003 4,226.61 05/14/2003 1,037.42 0.00 59 .00 Foundry Networkd Inc. 985 .96 07/1612003 796.61 05/19/2003 189.35 0.00 133.00 Fremont Gen Corp 1,922.08 07/1612003 1,564.55 05/28/2003 357.53 000 225 .00 Fremont Gen Corp 3,251.63 07/1612003 2,713.00 06/0212003 538.63 0.00 45.00 Fremont Gen Corp 650.33 07/16/2003 543 .61 06/03/2003 106.72 0.00 21 .00 New Century Fini Corp 569 .07 07/1612003 518 .10 04/29/2003 50.97 0.00 109.00 New Century FmI Corp 2,953.76 07/16/2003 2,918.54 05/02/2003 35.22 0.00 162 .00 New Century Fud Corp 4,389.99 07/16t2003 4,355.64 05/05/2003 34.35 0.00 36.00 New Century Fud Corp 97555 07/16/2003 998 .04 05/06t2003 (22 .49) 0.00 636 .00 Knight Trading Grp C1 A 5,370.51 07/1612003 5,546.56 07/0312003 (176 .05) 0.00 1.00 Cash in lieu - Short Term 13 .65 0-7/17/2003 0.00 0711 "1 1CMj 13.65 0.no

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136.00 Ascential Software Corp 2,232.65 07/18/2003 2,197.92 05/02/2003 34.73 0.00 19900 Ascential Software Corp 3,26689 07/18/2003 3,230.23 05/2812003 36 .66 000 3.00 Avid Technology Inc. 12652 07/18/2003 109 .70 06120/2003 16 .82 0.00 64.00 Avid Technology Inc. 2,699.14 07/1 W2003 2,516.48 07/02/2003 182 .66 0.00 113-00 Avid Technology Inc. 4,76566 07/18/2003 4,596.84 07/0812003 168 .82 0.00 103 .00 Avid Technology Inc. 4,343.92 07/18/2003 4,230.62 07/11/2003 113 .30 0.00 416.00 Vitesse Semiconductor Corp . 2,35203 07/18/2003 1,381.64 11/25/2002 970 .39 000 738-00 Vitesse Semiconductor Corp . 4,172.60 07/18/2003 2,306.72 12/02/2002 1,865.88 000 1.00 Vitesse Semiconductor Corp . 5 65 07/18/2003 2.74 12/1212002 2.91 0.00 98.00 Red Hat Inc. 651 .71 07/21/2003 84305 06105/2003 (191 .34) 0.00 332-00 Red Hat Inc. 2,207.82 07/2112003 2,795.17 06/1812003 (587 .35) 000 131 .00 TiVo Inc. 1,387.43 07/21/2003 1,716.60 07/02/2003 (329 .17) 000 77.00 TiVo hic. 815 .51 07/21/2003 1,050.85 07/0312003 (235 .34) 0.00 477.00 TiVo Inc. 5,051.95 07/21/2003 6,489.97 07/0712003 (1,43802) 000 129 .00 Advanced Digital Info. Corp. 1,340.03 07/22/2003 1,409.38 05/27/2003 (69 .35) 0.00 67.00 Advanced Digital Info. Corp. 695 .98 07/22/2003 719 .04 O6fO2/2OO3 (23 .06) 0.00 187 .00 Advanced Digital Info. Corp. 1,94252 07/22/2003 2,036.28 06104/2003 (9376) 0.00 592.00 Centillium Communications Inc 5,662.09 07/22/2003 5,517.26 05/0612003 144 .83 000 41 .00 Centillium. Commun*cations Inc 392 .14 07/22/2003 383 .79 05/15/2003 8.35 0.00 20.00 Digene Corporation 530.87 07/22/2003 375 .14 04/01/2003 155 .73 000 167 .00 Digene Corporation 4,432.81 07/22/2003 3,388.63 04/02/2003 1,044.18 000 108 .00 Digene Corporation 2,866.72 07/22/2003 2,614.12 05/07/2003 252 .60 0.00 319.00 Red Hat Inc. 2,124.28 07/22/2003 2,402.01 05/2912003 (277 .73) 0.00 319.00 Red Hat Inc. 2,124.28 07/22/2003 2,402.04 06102/2003 (27776) 0.00 15.00 Red Hat Inc. 99.89 07/22/2003 126.29 W1812003 (2640) 000 314.00 TiVo Inc. 3,280.95 07/2212003 3,947.63 06127/2003 (56668) 000 140.00 TiVo Inc. 1,46285 07/2212003 1,834.53 07/02/2003 (37168) 000 155.00 Advanced Digital Info. Corp. 1,608.39 07/23/2003 1,663.44 06/02/2003 (5505) 000 205 .00 Centilliurn Communications Inc 1,86131 07/23/2003 1,910.54 05/06/2003 (4923) 000 22.00 Centillium. Communications Inc 19975 07/23/2003 200.20 05/13/2003 (045) 0.00 41.00 CentLWum Communications Inc 37226 07/23/2003 369 .75 05/1412003 251 0.00 179.00 Thoratec Labs Inc 2,852.23 07/23/2003 2,53654 05/14/2003 315 .69 000 203 .00 Thoratec Labs Inc 3,234.65 (Y7123/2003 3,071.86 07/02/2003 16279 0.00 11900 Thoratec Labs Inc 1,89617 07/23/2003 2,209.82 07/08/2003 (31365) 000 433 .00 Vitesse Semiconductor Corp. 2,641 .26 07/2312003 864 .31 11107/2002 1,776.95 0.00 404.00 Vitesse Semiconductor Corp 2,464.36 07/23/2003 88971 11/20/2002 1,57465 0.00 556.00 Vitesse Semiconductor Corp. 3,391 .54 07/23/2003 1,495.62 12111/2002 1,895.92 0.00 918.00 Vitesse Semiconductor Corp. 5,599.71 0712312003 2,511 .86 12/1212002 3,08785 0.00 230.00 Westel Technologies Inc. - A 1,773.28 07/23/2003 1,801 .11 06/02/2003 (27 .83) 0.00 248-00 Westel Technologies Inc. - A 1,912.06 07/23/2003 2,19423 06109/2003 (282 .17) 0.00 75.00 Advanced Digital Info. Corp . 780.21 07/2412003 802 .13 05/3=003 (21 .92) 0.00 136-00 Advanced Digital Info. Corp. 1,414.78 07/2412003 1,459.54 06tO2/2003 (4476) 0.00 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 43 Gains and Loss Reportfron; 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouanti Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

219 .00 Fremont Gen Corp 3,095.72 07/2412003 2,576.21 05/28/2003 519.51 0.00 40.00 New Century Finl Corp 1,01323 07/24/2003 98686 04/2912003 26.37 0.00 96.00 Westel Technologies Inc. - A 694.74 07/24/2003 751 .77 06102/2003 (57 .03) 0.00 100 .00 Advanced Digital Info. Corp. 1,007.42 07/25/2003 1,069.51 05/3012003 (62.09) 0.00 76.00 Advanced Digital Info. Corp. 765 .64 07/25/2003 811 .54 06/09/2003 (45 90) 0.00 169 .00 Biosite Diagnostic Inc 7,835.11 07/25/2003 9,308.52 07/08/2003 (1,473 .41) 0.00 156 .00 Biosite Diagnostic Inc 7,232.41 (17/25/2003 8,820.24 07/14/2003 (1,587.83) 0.00 92.00 Biosite Diagnostic Inc 4,265.27 07125/2003 5,125.32 07/15/2003 (860.05) 0.00 197 .00 Chippac Inc 1,356.63 07/25/2003 1,422.18 06tl 1/2003 (65.55) 0.00 102 .00 Chippac Inc 702.42 07/25/2003 731 .96 06f20/2003 (29.54) 0.00 718.00 Chippac Inc 4,944.48 07125/2003 5,768.91 07/02/2003 (824 .43) 0.00 362.00 Chippac Inc 2,492.90 07/25/2003 3,296.19 07/0812003 (803 .29) 0.00 1 .00 Fremont Gen Corp 1379 07/2512003 11 .76 05/28/2003 2.03 0.00 284.00 Fremont Gen Corp 3,91543 07/25/2003 3,317.23 05/29/2003 59820 000 15 .00 Fremont Gen Corp 206.80 07/2512003 173 .36 05/30/2003 33-44 0.00 82 .00 New Century Finl Corp 2,001.77 07/2512003 2,014.41 0412212003 (12 .64) 0.00 156 .00 New Century Fud Corp - 3,808.25 07/25/2003 3,832.40 04/2412003 (24 .15) 0.00 84 .00 New Century Finl Corp 2,05060 07/25/2003 2,07240 04/29/2003 (21 .80) 0.00 242 .00 Westel Technologies Inc. - A 1,543.13 07/25/2003 1,734.08 05/28/2003 (19095) 000 139 .00 Westel Technologies Inc. - A 886.35 0712512003 1,08850 06/02/2003 (202 .15) 000 247.00 Chippac Inc 1,757.42 07/2812003 1,767.78 06/0412003 (10-36) 000 313 .00 Chippac Inc 2,227.01 07/28/2003 2,230.16 06110/2003 (3.15) 000 116 .00 Chippac Inc 825.35 07/28/2003 832 .43 06/20/2003 (7.08) 0.00 180 .00 Chippac Inc 1,28071 07128/2003 1,260.81 06125/2003 19.90 000 320.00 Ligand Pharmaceutical - C1 B 4,382.70 07/28f2003 4,869.18 06/1612003 (486 .48) 0.00 161 .00 Ugand Pharmaceutical - Cl B 2,20505 07128/2003 2,348.57 07/07/2003 (143 .52) 0.00 336-00 Ligand Pharmaceutical - C1 B 4,601.84 07/28/2003 5,049.58 07/08/2003 (447 .74) 0.00 185-00 Ugand Pharmaceutical - C1 B 2,533.75 07/28f2003 2,899.45 07/09/2003 (36570) 0.00 241 .00 Advanced Digital Info. Corp. 2,643.98 07/29/2003 2,570.67 05/2&'2003 73.31 0.00 108 .00 Advanced Digital Info. Corp. 1,194.85 07/2912003 1,142.77 06103/2003 42.08 0.00 261 .00 Advanced Digital Info. Corp. 2,863.40 07/29/2003 2,786.98 06/09/2003 76.42 0.00 1 .00 The Bombay Company Inc. 9.90 07/29/2003 11 .68 07/07/2003 (1.78) 0.00 112 .00 The Bombay Company Inc. 1,108.45 0712912003 1,339.98 07/08/2003 (231 .53) 000 72.00 Biosite Diagnostic Inc 3,326.29 07/29/2003 3,965.76 07/08/2003 (639 .47) 0.00 162 .00 Chippac Inc 973.09 07/29/2003 1,092.07 06102/2003 (118 .98) 000 132 .00 Chippac Inc 792.89 07/29/2003 90289 06/0312003 (110.00) 0.00 339.00 Chippac Inc 2,036.28 07/29/2003 2,325.54 06123/2003 (289.26) 0.00 338.00 Chippac Inc 2,030.27 07/29/2003 2,367.52 06125/2003 (337 .25) 0.00 131.00 Centillium Communications Inc 1,330.58 07/29/2003 1,161 .66 05/07/2003 168 .92 0.00 200.00 Centilliurn Communications Inc 2,031 .42 07/29/2003 1,803.68 05/1412003 227.74 0.00 125.00 Digene Corporation 3,418.64 07/29/2003 2,005.28 02111/2003 1,413.36 0.00 23.00 D;,------Corporation 629.03 07/29/2003 37R .99 02/1 Rn(X)3 250.04 0.00

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Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

89.00 Digene Corporation 2,434.07 07/29/2003 1,669.39 04/01/2003 764.68 000 19200 Finish Line - Cl. A 4,184.09 07/29/2003 4,82880 07/08/2003 (6" .7 1) 0.00 345.00 Fremont Gen Corp 4,96296 07/29/2003 3,987.27 05/3Ot2OO3 97569 0.00 48.00 K-Swiss; Inc. - Cl. A 1,659.78 07/29/2003 1,887.82 07/1512003 (228 .04) 0.00 124 .00 Ligand Pharmaceutical - Cl B 1,667.78 07/29/2003 1,568.64 05/3012003 99.14 0.00 115 .00 T-1gand Pharmaceutical - C1 B 1,546.73 07/29/2003 1,567.09 06/02/2003 (2036) 000 52.00 Ugand Pharmaceutical - C1 B 699.39 07/29/2003 70485 O6fO3/2003 (5.46) 000 47.00 Ligand Pharmaceutical - C1 B 632.14 07/29/2003 68561 07/07/2003 (5347) 0.00 34.00 Panera Bread Company 1,382.14 07/29/2003 1,515-32 07/0812003 (133 .18) 0.00 140 .00 'Moratec Labs Inc 2,183.46 07/29/2003 1,914.77 04/25/2003 268 69 0.00 119 .00 Thoratec: Labs Inc 1,855.94 07/29/2003 1,678.26 04/2912003 177 .68 0.00 130 .00 Thoratec Labs Inc 2,027.50 07/29/2003 1,842.18 05/14/2003 18532 0.00 136 .00 TiVo Inc. 1,461.97 07/29/2003 1,38222 06105/2003 79.75 000 81 .00 TiVo Inc. 87073 07/29/2003 829-27 06/19/2003 41 .46 000 309.00 TiVo Inc. 3,321 .68 07/29/2003 3,224.66 06120/2003 97 .02 0.00 6.00 TiVo Inc. 64.50 07/29/2003 73-52 06/27/2003 (9.02) 0.00 183 .00 Vitesse Semiconductor Corp. 1,152.77 07/29/2003 365 .29 11/07/2002 787 .48 0.00 209.00 Vitesse Semiconductor Corp. 1,316.55 07/29/2003 418 .69 11/1412002 897 .86 0.00 134 .00 Vitesse Semiconductor Corp. 844.11 07/29/2003 26784 11/19/2002 576.27 000 80.00 Tle Bombay Company Inc. 743.96 07/30/2003 93457 07/07/2003 (19061) 0.00 123 .00 Finish Line - Cl. A 2,676.65 07/30/2003 3,093.45 07/08/2003 (416.80) 0.00 71 .00 K-Swiss Inc. - Cl. A 2,502.69 07/30/2003 2,174.35 05/0612003 328 .34 0.00 15 .00 K-Swiss hic. - Cl. A 528.74 07/30/2003 493 .46 05129/2003 35 .28 0.00 50.00 K-Swiss Inc. - Cl. A 1,762.46 07/30/2003 1,966.48 07/15/2003 (204 .02) 0.00 31 .00 Ligand Pharmaceutical - C1 B 397 .09 07/3012003 333-33 05/1612003 63 .76 0.00 77 .00 Llgand Pharmaceutical - Cl B 986 .32 07/3012003 833 .66 05/19/2003 152.66 0.00 322 .00 Ligand Pharmaceutical - Cl B 4,124.63 07/30/2003 3,99058 0512912003 134.05 0.00 33 .00 Ugand Pharmaceutical - Cl B 422.71 07/30/2003 417.46 05/30/2003 5.25 0.00 6.00 Panera Bread Company 242 .32 07/30/2003 256.09 07/02/2003 (13 .77) 0.00 77.00 Panera Bread Company 3,10976 07/3012003 3,291.92 07/07/2003 (182 .16) 0.00 93.00 Panera Bread Company 3,755.94 07/30/2003 4,1".84 07/09/2003 (388 .90) 000 76.00 Tboratec Labs Inc 1,143.75 07/3012003 973.29 04/01/2003 17046 000 90.00 'Moratec Labs Inc 1,35444 07/30/2003 1,230.92 04/25/2003 12352 0.00 97.00 Vitesse Semiconductor Corp . 613 .73 07/3=003 187 .36 11/15/2002 426.37 0.00 142.00 Vitesse Semiconductor Corp. 898 .44 07/30/2003 283.83 11/1912002 61461 0.00 69 .00 Biosite Diagnostic Inc 2,965.48 07/31/2003 3,80052 07/08/2003 (835 .04) 0.00 46.00 Biosite Diagnostic Inc 1,976.98 07/31/2003 2,531 .38 07/18/2003 (554 .40) 0.00 36.00 Fremont Gen Corp 471 .83 07/31/2003 412-29 05/22/2003 59.54 0.00 6400 Fremont Gen Corp 838 .82 07/3112003 739.67 05/30/2003 99.15 0.00 380.00 Ugand Pharmaceutical - C1 B 4,860.24 07/31/2003 4,028.00 05/1412003 832 .24 0.00 227 .00 Ugand Pharmaceutical - C1 B 2,903.35 07/3112003 2,440.86 05/16/2003 46249 0.00 286.00 Ligand Pharmaceutical - C1 B 3,657.97 07/31/2003 3,023.25 05120/2003 634.72 0.00 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 45 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

241 .00 New Century Fin! Corp 5,559.60 07/31/2003 5,920.41 04/22/2003 (360.81) 000 212.00 Nextel Partners Inc -cl A 1,855.74 07/31/2003 1,770.26 07/03/2003 85 .48 0.00 376.00 Nextel Partners Inc -cl A 3,291 .31 07/31/2003 3,294.47 07/(Y712003 6.84 0.00 335.00 Nextel Partners Inc -cl A 2,93241 07/31/2003 3,059.56 07/0812003 (127 15) 000 26.00 'Moratec Ubs Enc 390 " 07/31/2003 32882 03/2912003 6162 000 81 .00 'Moratec Labs Inc 1,216.37 07/31/2003 1,027.96 03/31/2003 18841 0.00 1.00 Thoratec Labs Inc 15 .02 07/31/2003 12 .81 04/01/2003 221 0.00 66.00 Tle Bombay Company Inc. 634.52 08/01/2003 735 .55 06106/2003 (101 .03) 0.00 32.00 The Bombay Company Inc. 307.64 08/01/2003 373 .83 07/07/2003 (66 .19) 0.00 14 .00 Biosite Diagnostic Inc 588.39 08/01/2003 770.42 07/18/2003 (182 .03) 0.00 65.00 Biosite Diagnostic Inc 2,73182 08/01/2003 3,574.35 07/21/2003 (842 .53) 0.00 11 .00 Fmish Line - Cl. A 248.03 08/01/2003 276.65 07/0&'2003 (28 .62) 0.00 328.00 Fremont Gen Corp 4,117.48 08/01/2003 3,756.39 05/2212003 361 .09 000 50.00 K-Swiss Inc. - Cl. A 1,849." 09/01/2003 1,531.24 05/O6f2OO3 318.20 0.00 85 .00 K-Swiss Inc. - Cl. A 3,144.04 08101/2003 2,602.16 05/0712003 541 .88 0.00 271.00 Ugand Pharmaceutical - Cl B 3,313.90 08101/2003 2,86469 05/20/2003 44921 000 149 .00 New Century Finl Corp 3,360.53 08/01/2003 3,660.33 04/22/2003 (299 .80) 0.00 6.00 New Century Finl Corp 135 .32 08/01/2003 145 .52 04/28/2003 (10 .20) 0.00 106 .00 Nextel Partners Inc -cl A 902.71 OatOl/2003 885 .13 07/03/2003 17.58 0.00 35 .00 Panera, Bread Company 1,466.35 08/0112003 1,493.85 07/02/2003 (27 .50) 0.00 94 .00 Panera Bread Company 3,519.23 08/01/2003 3,560.21 07/03/2003 (40.98) 0.00 62.00 Panera Bread Company 2,597.53 08/0112003 2,578.49 07/16/2003 19 .04 0.00 195 .00 Tlioratec Labs Inc 2,803.96 08/01/2003 2,466.18 03/28/2003 337.78 0.00 131 .00 Thoratec Labs Inc 1,883.69 08/01/2003 1,643.08 04/02/2003 240.61 0.00 327.00 'Me Bombay Company Inc. 3,062.01 0810V2003 3,558.25 0610512003 (496 .24) 000 39.00 Tlie Bombay Company Inc. 365 .19 08/0412003 43464 06106/2003 (69 .45) 000 111 .00 Biosite Diagnostic Inc 4,646.24 08/0412003 5,969.58 07/1612003 (1,323 .34) 0.00 39.00 Biosite, Diagnostic Inc 1,632.46 08/0412003 2,144.61 07/2112003 (512 .15) 0.00 62.00 Finish Line - Cl. A 1,373.23 08/0412003 1,468.16 07/03/2003 (94 .93) 0.00 32.00 Finish Line - Cl. A 708.77 08104/2003 804.80 07/08/2003 (96 .03) 000 273.00 Fremont Gen Corp 3,474.52 08104/2003 3,126.51 05/2212003 34801 0.00 58.00 Ligand Pharmaceutical - Cl B 680.31 Oa/04/2003 613.11 05120/2003 67.20 0.00 102 .00 Ligand Pharmaceutical - Cl B 1,196.40 Oa/04/2003 1,041 .91 05/21/2003 15449 0.00 123 .00 New Century Finl Corp 2,738.93 08/04/2003 2,96840 04/25/2003 (229 .47) 0.00 201 .00 New Century Finl Corp 4,475.81 08/0412003 4,874.92 04128/2003 (399 .11) 000 1 .00 New Century Rol Corp 22.27 08/0V2003 0.00 071142003 22.27 0.00 15 .00 Thoratec Labs Inc 209 .69 08/04/2003 188 .14 0410212003 21 .55 0.00 101 .00 TIoratec Labs Inc 1,411.94 08/04/2003 1,245.26 04/03/2003 166 .68 0.00 100 .00 Finish Line - Cl. A 2,224.89 08/05/2003 2,368.00 07/03/2003 (143 .11) 0.00 319.00 Dot Hill System Corp 4,708.50 08/06f2003 5,317.73 07/29/2003 (609 .23) 000 372.00 TiVo Inc. 3,221.58 08/06/2003 3,780.78 06105/2003 (559 .20) 000 58 .0() Panem- Bread Company 2,30-4.87 M/07.120-03 2,330.72 06f,1012003 QC% 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

1600 Panera Bread Company 635.83 08/07/2003 652 .16 07/01/2003 (1633) 0.00 46.00 Panera Bread Company 1,82800 08/07/2003 1,91308 07/16r2OO3 (85.08) 0.00 95.00 TiVo Inc. 81868 08/07/2003 965 .52 06/0512003 (146.84) 000 772 .00 XM Satellite Radio Holdings Inc. 8,367.16 08/07/2003 5,13002 03/27/2003 3,237.14 0.00 466.00 XM Satellite Radio Holdings Inc. 5,050.64 08/07/2003 3,035.76 04/11/2003 2,01488 0.00 127 .00 XM Satellite Radio Holdings Inc. 1,376.46 08/0712003 835 .42 041142003 541 .04 0.00 839 .00 XM Satellite Radio Holdings Inc. 9,093.32 08/0712003 5,942.89 04/17/2003 3,15043 000 150 .00 XM Satellite Radio Holdings Inc. 1,625.74 08/07/2003 1,419.09 04/23/2003 206.65 0.00 520.00 XM Satellite Radio Holdings Inc. 5,63591 08107/2003 5,06600 05/05/2003 569 .91 0.00 50.00 Advanced Digital Info. Corp. 497.29 0&/0812003 525 .04 05129/2003 (27 .75) 0.00 208.00 Advanced Digital Info. Corp. 2,06875 08/08/2003 2,200.89 0610312003 (132.14) 0.00 447.00 Centillium Communications Inc 3,933.45 08/08/2003 3,618.15 05/05/2003 315 .30 0.00 41 .00 Centillium Communications Inc 36079 08/0812003 363 .57 05107nM3 (2.78) 0.00 20.00 TiVo Inc. 167 .53 08/08/2003 203 .27 06(0512003 (35.74) 000 200.00 TiVo Inc. 1,675.26 08/08/2003 2,018.96 06118/2003 (343.70) 0.00 172.00 Vitesse Semiconductor Corp. 907.11 08/08/2003 332 .23 11/15/2OD2 574.88 0.00 155.00 Advanced Digital Info. Corp. 1,547.70 0811112003 1,627.61 05129/2003 (79.91) 0.00 5.00 Ascential Software Corp 72.78 08/11/2003 80 .81 05/02/2003 (8.03) 000 52.00 Ascential Software Corp 756.93 08/11/2003 838 .17 05/05/2003 (81 .24) 0.00 359.00 Ascential Software Corp 5,225.71 08/1112003 6,390.99 O7f23f2OO3 (1,165 .28) 0.00 77.00 Tloratec Labs Inc 1,050.53 08/11/2003 914 .17 03/27/2003 13636 0.00 221 .00 TILoratec Labs Inc 3,015.15 08/11/2003 2,724.78 04103/2003 290.37 0.00 30.00 TiVo Inc. 25029 09111/2003 30294 06118/2003 (52.55) 0.00 322.00 TiVo Inc. 2,686.41 08/11/2003 3,234.94 06123/2003 (548.43) 0.00 42.00 TiVo Inc. 350.40 08/11/2003 414.60 06124/2003 (64.20) 0.00 340.00 Vitesse Semiconductor Corp. 1,807 18 08/11/2003 656.72 11/15/2002 1,150.46 0.00 151.00 Advanced Digital Info. Corp. 1,512.33 08/12/2003 1,478.64 05/1612003 3369 000 14800 Advanced Digital Info. Corp. 1,482.28 08/1212003 1,451 .79 05/19/2003 30.49 0.00 115.00 Advanced Digital Info. Corp 1,151.77 08/12/2003 1,207.58 05/2912003 (5581) 0.00 123.00 Ascential Software Corp 1,801.75 08/1212003 1,976.74 05/01/2003 (174.99) 0.00 54.00 Ascential Software Corp 791 .01 08/12/2003 870 .41 05/05/2003 (79.40) 0.00 9400 Ascential Software Corp 076.95 08/12/2003 1,51321 05/06/2003 (13626) 0.00 257 .00 Advanced Digital Info. Corp. 2,549.44 08/13/2003 2,516.62 05/1612003 3282 0.00 72 .00 Advanced Digital Info. Corp. 72075 08/14/2003 70505 05/1612003 1570 0.00 94 .00 Advanced Digital lafo. Corp. 840.87 09/14/2003 801 .18 05/20/2003 39.69 0.00 132 .00 Ascential Software Corp 2,020.99 08/14/2003 2,100.50 04128/2003 (79 .51) 0.00 64.00 Ascential Software Corp 97988 08/1412003 1,008.18 04/30/2003 (28.30) 0.00 28 .00 Ascential Software Corp 428 .70 08/14/2003 449.99 05/01/2003 (21 .29) 0.00 197 .00 Ascential Software Corp 3,016.18 08/14/2003 3,156.34 05/07/2003 (140.16) 0.00 252.00 Thoratec: Labs Inc 3,454.98 08/1412003 2,758.39 03/19/2003 69659 0.00 53-00 Thoratec Labs Inc 726.64 08/1412003 629.23 03/27/2003 97.41 0.00 231 .00 'Moratec Labs Inc 3,167.07 08/14/2003 2,725.80 04/09/2003 441 .27 000 Dyiehaus Capital Management Friday January 23, 2004 16:54:16 Page 47 Gains and Loss Reportfron; 1110112002 to 1013112003 Aecount: 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouanfity Security Descrit)tion Proceeds Date Cost Date Gain (- Loss) Premium Discount

309 .00 Vitesse Semiconductor Corp. 1,770.05 08/14/2003 553 .61 11/08/2002 1,216.44 0.00 717.00 Vitesse Semiconductor Corp. 4,107.21 08/14/2003 1,325.68 11/13/2002 2,781.53 0.00 8.00 Vitesse Semiconductor Corp. 45.83 08/14/2003 1545 11/15/2002 30 .38 0.00 2.00 Advanced Digital Info. Corp . 23.73 08/15/2003 19.08 05/20/2003 4.65 0.00 96.00 Ascential Software Corp 1,461 .05 08/15/2003 1,512.27 04/30/2003 (51 .22) 0.00 37.00 Ascential Software Corp 563.11 Oa/15/2003 582 .48 05/15/2003 (1937) 000 66.00 T"horatec Labs Inc 913.39 08/15/2003 72244 03/19/2003 19095 0.00 73-00 Ascential Software Corp 1,119.47 08/18/2003 1,128.43 04/29/2003 (8.96) 0.00 90.00 Ascential Software Corp 1,380.17 08/18/2003 1,414.19 05/08/2003 (34 .02) 0.00 182.00 Ascential Software Corp 2,791.02 08/18/2003 2,805.46 05/14/2003 (1444) 0.00 11.00 Ascential Software Corp 168.69 08/18/2003 173 .17 05/1512003 (4.48) 000 4.00 Ascential Software Corp 61 .34 08/1812003 0.00 06(18/2003 61 .34 0.00 1.00 Cash in Lieu - Short Term 14.38 08/18/2003 0.00 08/18/2003 14 .38 000 474.00 Centillium Communications Inc 4,611.79 08/18/2003 3,536.23 05/02/2003 1,075.56 0.00 26.00 Centillium, Communications Inc 252.97 08/18/2003 210 .45 05/0512003 42.52 0.00 27 .00 'Me Bombay Company Inc. 271 .51 08/19/2003 293 .80 06105/2003 (22 .29) 0.00 223 .00 'Me Bombay Company Inc. 2,242.45 08/19/2003 2,275.14 08/0612003 (32 .69) 000 494.00 Centillium Communications Inc 4,566.80 08/19/2003 3,610.83 05/02/2003 955.97 000 64.00 The Bombay Company Inc. 608.04 08/20/2003 54280 04/30/2003 65.24 000 160.00 The Bombay Company Inc. 1,520.10 08/20/2003 1,448.75 05/05/2003 71 .35 000 236.00 The Bombay Company Inc 2,242.15 08/20/2003 2,186.33 05/08/2003 55.82 0.00 80.00 The Bombay Company hic. 760.05 08/2012003 76348 05/13/2003 (3.43) 0.00 379 .00 The Bombay Company Inc. 3,600.74 08/2012003 3,695.74 05/14/2003 (95 .00) 0.00 175 .00 The Bombay Company Inc. 1,662.61 OWW2003 1,78542 09/06/2003 (122 .81) 0.00 269 .00 The Bombay Company Inc. 2,555.67 08/20/2003 2,713 13 08/08/2003 (157 .46) 000 164 .00 Marvel Enterprises Inc. 3,426.81 08/2012003 3,50704 08/12/2003 (80 .23) 000 245.00 QLT PhotoTherapeutics Inc. 3,364.01 08/2012003 4,276.45 07/28/2003 (912 .44) 000 125 .00 XM Satellite Radio Holdings Inc. 1,551.56 OW20/2003 75406 03/2512003 797.50 000 389.00 XM Satellite Radio Holdings hic. 4,828.46 08120/2003 2,471 .67 03/2612003 2,356.79 000 106 .00 XM Satellite Radio Holdings Inc. 1,315.73 08/20/2003 69054 04/11/2003 625 .19 0.00 132 .00 Omnivision Technologies 5,382.38 08/21/2003 2,320.11 11/25/2002 3,062 27 0.00 102 .00 Oninivision Technologies 4,159.11 08/21/2003 1,807.10 12tO212002 2,35201 000 31 .00 Omnivision Technologies 1,264.04 08/21/2003 502.20 1210412002 761 .94 000 123.00 Orrinivision Technologies 5,015.40 08/21/2003 1,976.30 12/04/2002 3,039.10 000 154.00 Omnivision Technologies 6,279.44 08/21/2003 2,607.99 12/09/2002 3,671.45 000 168.00 Omnivision Technologies 6,850.30 0&121/2003 2,892.98 12/1312002 3,957.32 0.00 73 .00 Omnivision Technologies 2,976.62 08/21/2003 1,293.03 12/1612002 1,683.59 0.00 55 .00 Oninivision Technologies 2,242.66 0&-2112003 985.86 02/20/2003 1,256.80 0.00 171.00 Oninivision Technologies 6,972.62 08/21/2003 6,636.51 07/08/2003 336 .11 0.00 202-00 Omnivision Technologies 8,236.67 08/21/2003 7,926.48 07/14/2003 310 .19 0.00 183 .00 Oninivision Technologies 7,461.93 08/2112003 7,725.35 07/29/2003 (263.42) 000 66.00 Omnivision Technologies 2,691.19 08/21020003 2,778.60 0&1(rr-)003 (87.41) A 00

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26.00 QLT PhotoTherapeutics Inc. 357 .24 08/21/2003 451 .30 07/25/2003 (94.06) 000 20-00 QLT PhotoTherapeutics Inc. 274.80 08/21/2003 349.10 07/28/2003 (74.30) 0.00 186.00 QLT PhotoIberapeutics Inc. 2,555.64 08/21/2003 3,23640 07/29/2003 (680.76) 000 316.00 XM Satellite Radio Holdings Inc. 4,006.69 08/2112003 1,90627 03/25/2003 2,100.42 0.00 262.00 QLT PhotoTherapeutics Inc. 3,587 10 08/22/2003 4,41598 07/24/2003 (828.88) 000 111.00 QLT PhotoTherapeutics Inc. 1,519.73 0&'22/2003 1,92670 07/25/2003 (40697) 000 167.00 AT Road Inc 2,222.96 08/25/2003 2,40647 07/28/2003 (183 .51) 000 262-00 AT Road Inc 3,487.52 08/2512003 3,778.04 07/29/2003 (290.52) 0.00 20.00 AT Road Inc 26622 08/25/2003 288 01 07/3012003 (21.79) 0.00 73-00 QLT PhotoTherapeutics Inc. 979 .62 08125/2003 1,23041 07/24/2003 (25079) 0.00 81 .00 Alaris Medical Inc 1,339.37 08/28/2003 1,33502 07123/2003 435 0.00 214.00 Alaris Medical Inc 3,538.58 08128/2003 3,756.77 07/31/2003 (218.19) 0.00 14800 Alaris Medical Inc 2,447.24 08/28/2003 2,57687 08/01/2003 (129.63) 000 152-00 Alaris Medical Inc 2,513.38 08/28/2003 2,52208 08/04/2003 (870) 000 30.00 Angiotech Pharmaceuticals 1,297.04 0812812003 1,267.06 06/27/2003 29.98 000 119.00 Angiotech Pharmaceuticals 5,14494 08/28t2003 5,179.06 07/03/2003 (34 .12) 0.00 53 .00 Angiotech Pharmaceuticals 2,291.44 08/28/2003 2,30332 07/0712003 (1188) 0.00 78.00 Angiotech Pharmaceuticals 3,372.31 08/2812003 3,58968 08/12/2003 (217 .37) 0.00 68.00 AT Road Inc 911 .17 08128/2003 951 .73 07/25/2003 (40 .56) 0.00 245 .00 AT Road Inc 3,282.89 08/28/2003 3,528 12 07/30/2003 (245 .23) 0.00 94.00 Netease.corn Inc. ADR 4,610.44 08/28/2003 1,06049 03/04/2003 3,549.95 0.00 98.00 Netease .com, Inc. ADR 4,806.63 08/28/2003 1,115.97 03/12/2003 3,690.66 0.00 98.00 Panera Bread Company 4,219.63 08/2912003 3,938.11 0612012003 281 .52 0.00 78.00 Panera Bread Company 3,358.48 08/28/2003 3,07290 06/23/2003 285 .58 0.00 79.00 Panera Bread Company 3,401.54 08128/2003 3,169.24 06(27/2003 23230 0.00 48-00 Penwest Pharmaceuticals Co 1,051.15 08t28/2003 1,173.98 07/03/2003 (122 .83) 0.00 59.00 Penwest Pharmaceuticals Co 1,292.04 08/28/2003 1,431 .91 07/07/2003 (13987) 000 59-00 Penwest Pharmaceuticals Co 1,292.04 08/28/2003 1,428.14 0712412003 (13610) 000 304 .00 TLC Vision Corp 1,554.89 08/28/2003 2,080.88 07/29/2003 (525 .99) 0.00 674.00 TLC Vision Corp 3,447.35 W28/2003 4,663.68 07/30/2003 (1,216 .33) 0.00 332.00 TLC Vision Corp 1,698.10 08/28/2003 2,267.56 07/3112003 (569.46) 0.00 105 .00 AT Road Inc 1,410.08 08/29/2003 1,469.58 07/25/2003 (59.50) 000 61 .00 AT Road Inc 819 .19 08/29/2003 847.36 08/01/2003 (28.17) 000 70.00 Penwest Pharmaceuticals Co 1,526.28 08/29/2003 1,687.67 07/0112003 (161 .39) 000 43.00 Penwest Pharmaceuticals Co 93757 08/2912003 1,032.03 07/02/2003 (94.46) 0.00 79.00 Penwest Pharmaceuticals Co 1,722.51 08/29/2003 1,903.90 07/08/2003 (181 .39) 0.00 7.00 Penwest Pharmaceuticals Co 152 .63 08/29/2003 169 .44 07/24/2003 (16.81) 0.00 118 .00 Alaris Medical Inc 1,987.52 09/02/2003 1,92807 07108/2003 59 .45 0.00 91 .00 Alaris Medical Inc 1,532.75 09/02/2003 1,49983 07/23/2003 32 .92 0.00 179 .00 Angiotech Pharmaceuticals 7,697.87 09/0212003 5,606.53 06104/2003 2,091.34 0.00 35-00 Angiotech Pharmaceuticals 1,505.17 09/02/2003 1,16677 06/05/2003 33840 0.00 169-00 Angiotech Pharmaceuticals 7,267.83 0910212003 5,325.46 06(09/2003 1,942.37 0.00 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 49 Gains and Loss Reportfrom 1110112002 to 1013112003 Account.-06057070 -- RRDFOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Descrii)tion Proceeds Date cost Date Gain (- Loss) Premium Discount)

21 .00 Angiotech Pharmaceuticals 903 .10 09/02/2003 65642 06110/2003 24668 000 88-00 Angiotech Pharmaceuticals 3,78443 09/0212003 3,54653 06113/2003 237.90 000 113.00 Angiotech Pharmaceuticals 4,859.55 09/02/2003 4,77260 06127/2003 86 .95 0.00 59 .00 Angiotech Pharmaceuticals 2,537.29 09/02/2003 2,483.82 07/02/2003 53.47 0.00 80 .00 AT Road Inc 1,057.56 09/02/2003 1,01989 07/11/2003 37 .67 000 74.00 AT Road Inc 978 .24 09/0212003 986.68 07/14/2003 (844) 000 53.00 AT Road Inc 700.63 09/02/2003 736.23 08/01/2003 (35 .60) 0.00 165 .00 AT Road Inc 2,181.21 09/02/2003 2,202.75 08/04/2003 (21 .54) 0.00 2.00 AT Road Inc 26.44 09/0212003 25.61 08/05/2003 0.83 0.00 99.00 AT Road Inc 1,308.73 09/02/2003 1,304.82 08/1212003 3.91 0.00 127 .00 Gen-probe Inc 7,794.89 09/0212003 4,296.41 05/05/2003 3,498.48 0.00 116 .00 Gen-probe Inc 7,119.74 09/0212003 3,90456 05/0612003 3,215.18 000 26.00 Gen-probe Inc 1,595.80 09/0212003 90064 05/09/2003 69516 000 334 .00 Marvel Enterprises Inc. 7,624.16 09/02/2003 7,14239 08/12/2003 481 .77 000 108.00 Nctease.corn Inc. ADR 5,901.74 09/0212003 1,218.43 03/04/2003 4,683.31 0.00 46.00 Penwest Pharmaceuticals Co 1,013.57 09/0212003 1,104.03 07/02/2003 (9046) 0.00 54-00 Penwest Pharmaceuticals Co 1,189.84 09/0212003 1,277.95 07/23/2003 (88.11) 0.00 69-00 Penwest Pharmaceuticals Co 1,520.35 09/02/2003 1,649.10 07/28r2003 (128.75) 0.00 108.00 Penwest Pharmaceuticals Co 2,379.68 09/02/2003 2,549.88 07/31/2003 (170.20) 0.00 205-00 QLT PhotoTherapeutics Inc. 2,776.12 09/02/2003 3,455.25 07/24/2003 (679.13) 0.00 53.00 QLT PhotoTherapeutics Inc. 717.73 09/02/2003 81064 OaIO8/2003 (92.91) 000 13 .00 TLC Vision Corp 66.32 09/02/2003 88 .79 07/31/2003 (22 .47) 0.00 178 .00 TLC Vision Corp 908.13 09/02/2003 1,19082 Oa/01/2003 (28269) 000 221 .00 TLC Vision Corp 1,127.51 09/02/2003 1,423.24 08/04/2003 (295 .73) 0.00 57.00 TI-C Vision Corp 290.81 09/02/2003 355 .11 08/12/2003 (64 .30) 0.00 34 .00 Alaris Medical Inc 576.15 09/03/2003 555 .55 07/0812003 2060 000 39.00 Alaris Medical Inc 660.87 09/03/2003 625 .82 07/2112003 35 05 000 112 .00 Alaris Medical Inc 1.897 .89 09/03/2003 1,803.94 07122/2003 9395 0.00 96.00 Angiotech Pharmaceuticals 4,015.00 09/03/2003 2,911.09 05129r2OO3 1,103.91 0.00 96-00 Angiotech Pharmaceuticals 4,015.00 09/03/2003 2,800.90 06102/2003 1,214.10 0.00 151.00 Angiotech Pharmaceuticals 6,315.26 09/03/2003 4,496.58 06103/2003 1,818.68 0.00 120.00 Angiotech Pharmaceuticals 5,018.75 09/03/2003 3,750.98 OW1012003 1,267.77 0.00 139.00 AT Road Inc 1,854.17 09/03/2003 1,60644 07/02/2003 247.73 0.00 202 .00 AT Road Inc 2,694.55 09/03/2003 2,348.21 07/07/2003 346.34 0.00 180.00 AT Road Inc 2,401 .09 09/03/2003 2,134.35 07/08/2003 26674 0.00 108.00 AT Road Inc 1,440.65 09103/2003 1,376.85 07/11/2003 63.80 0.00 134.00 AT Road Inc 1,787.48 09/03/2003 1,68543 08/07/2003 10205 0.00 50.00 Gen-probe Inc 3,000.90 09/03/2003 1,670.50 05/0212003 1,33040 0.00 76.00 Gen-probe Inc 4,561 .37 09/03/2003 2,558.16 05/06/2003 2,003.21 0.00 212.00 Penwest Pharmaceuticals Co 4,679.78 09/03/2003 4,954.33 0713012003 (274 .55) 0.00 74.00 Penwest Pharmaceuticals Co 1,633.51 09/03/2003 1,74714 07/31/2003 (113 .63) 0.00 172.00 QLT PhotoTherapeutics Inc. 2,338.13 09/03/2003 2.630.74 08/08/2003 (292 .61) 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Descrivtion Proceed Date cost Date Gain (- Loss) Premium Discount) 772.00 TLC Vision Corp 4,02192 09/0312003 4,809~56 08/1212003 (78764) 0.00 319.00 Wireless Facilities, Inc. 4,515.55 09/03/2003 3,850.01 07/02/2003 665.54 000 110.00 Wireless Facilities, Inc. 1,557.09 09/03/2003 1,402.68 (Y7/09/2003 154.41 0.00 87 .00 Wireless Facilities, Inc. 1,231.51 09/03/2003 1,144.78 0&0 112003 86.73 0.00 73 .00 Wireless Facilities, Inc. 1,03334 09/0312003 1,012.72 08/04/2003 20.62 0.00 79.00 Wireless Facilities, Inc. 1,118.27 09/03/2003 1,075.49 08/0512003 42.78 000 3.00 AT Road Inc 40.71 09/04/2003 34.67 07/02/2003 6.04 0.00 64-00 AT Road Inc 868 .45 09104/2003 737 .92 07/03/2003 130.53 0.00 166 .00 Acropostale Inc 4,29407 09/04/2003 4,851-72 08/12/2003 (557 .65) 0.00 133 .00 Aeropostale Inc 3,440.43 09/0412003 4,020.56 08114/2003 (580.13) 0.00 119 .00 Aeropostale Inc 3,078.28 09/04/2003 3,250.85 0&'25/2003 (172 .57) 0.00 83-00 Gen-probe Inc 4,939.09 09/04/2003 2,773.03 05/02/2003 2,166.06 0.00 65.00 Penwest Pharmaceuticals Co 1,414.33 09/04/2003 1,519.02 07/30/2003 (104 .69) 000 98-00 QLT PhotoTherapeutics Inc. 1,347.96 09/04/2003 1,498.91 08108/2003 (150.95) 0.00 1.00 TLC Vision Corp 5.26 09/04/2003 6.23 08/12/2003 (0.97) 0.00 89.00 TLC Vision Corp 467 .77 09/0412003 547 .35 08/13/2003 (79 .58) 0.00 39.00 Wireless Facilities, Inc. 558.46 09/0412003 417 .63 06116/2003 140 .83 0.00 101 .00 Wireless Facilities, Inc. 1,446.26 09/04/2003 1,112.38 06120/2003 333.88 000 77.00 Wireless Facilities, Inc. 1,102.59 09/04/2003 846.35 06t23/2003 256.24 000 195 .00 Wireless Facilities, Inc. 2,792.29 09/04/2003 2,311.37 06/24/2003 480.92 0.00 154 .00 Vueless Facilities, Inc. 2,205.19 09/0412003 1,856.42 06125/2003 34877 0.00 16 .00 Wireless Facilities, Inc. 229.11 09/04/2003 193 .10 07/02/2003 36 .01 000 1.00 Wireless Facilities, Inc. 14.32 09/04/2003 11.71 07/03/2003 2.61 000 33.00 Alaris Medical Inc 550.97 09/05/2003 529.54 07/21/2003 21 .43 0.00 96.00 Advanced Neuromodulation Sys . 3,58207 09/05/2003 3,892.95 07129/2003 (310.88) 0.00 95-00 Advanced Neuromodulation Sys 3,544.76 09/05/2003 3,901.97 07/31/2003 (357 .21) 000 324.00 Acropostale Inc 8,689.72 09/05/2003 8,767.86 08/08/2003 (78 .14) 000 12-00 Aeropostale Inc 321 .84 09/05/2003 32782 08/25/2003 (5.98) 000 12 .00 Penwest Pharmaceuticals Co 255 .11 09/05/2003 273 .44 07/21/2003 (18 .33) 0.00 232.00 Penwest Pharmaceuticals Co 4,932.08 09/05/2003 5,421.72 07/30/2003 (48964) 0.00 7.00 QLT PhotoTherapeutics Inc. 95.89 09/05/2003 107 .07 08/0812003 (11 .18) 0.00 209.00 Wireless Facilities, Inc. 3,062.67 09/05/2003 2,20702 06tO4/2003 855 .65 000 195 .00 Wireless Facilities, Inc. 2,85751 09/05/2003 2,088.14 0611612003 76937 000 88.00 Wireless Facilities, Inc. 1,289.54 09/05/2003 939.03 06t 18/2003 350.51 000 59.00 Alaris Medical Inc 962.00 09/08/2003 94675 07/21/2003 15.25 0.00 122 .00 Ahtris Medical Inc 1,989.23 09/08/2003 1,82979 08/08/2003 159 .44 0.00 212.00 Gen-probe Inc 13,054.34 09/08f2003 7,08292 05/02/2003 5,97142 000 93-00 Gen-probe Inc 5,726.67 09/08/2003 3,070.86 05/07/2003 2,655.81 0.00 52.00 Penwest Pharmaceuticals Co 1,092.47 09/08/2003 1,184.92 07/21/2003 (92.45) 0.00 102 .00 Penwest Pharmaceuticals Co 2,142.92 09/08/2003 2,32358 07/2212003 (180.66) 000 65.00 Penwest Pharmaceuticals Co 1,365.59 09108/2003 1,460.23 08/01/2003 (94.64) 0.00 33.00 Penwest Pharmaceuticals Co, 693 .30 09/0812003 723 .80 08/04/2003 (30.50) 0.00 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 51 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouandtv Security Descrivilon Proceeds Date Cost Date Gain (- Loss) Premium Discount)

253-00 Wireless Facilities, Inc. 3,640.83 09/08/2003 2,570.76 05/28/2003 1,070.07 0.00 149 .00 Wireless Facilities, Inc. 2,14420 09/08/2003 1,51821 05/29/2003 625 .99 0.00 17 .00 Wireless Facilities, Inc. 24464 09/0812003 170.05 05/30/2003 74.59 0.00 25.00 Wireless Facilities, Inc. 359.77 09/0&'2003 260.93 06tO2/2003 98 .84 0.00 203.00 Wireless Facilities, Inc. 2,921.29 09/08/2003 2,109.78 06t03/2003 811 .51 0.00 30.00 Wireless Facilities, Enc. 431 .72 09/08/2003 316.80 0610412003 114.92 0.00 82.00 Wireless Facilities, Inc. 1,180.03 09/08/2003 845 .59 06/13/2003 33444 0.00 134.00 Alaris Medical Inc 2,190.03 09/09/2003 1,989.08 07/07/2003 200.95 0.00 21 .00 Alaris Medical Inc 343 .21 09/09/2003 31496 08/08/2003 2825 000 7.00 Aeropostale Inc 18264 09/09/2003 189.43 08/0&12003 (6.79) 0.00 316.00 Aeropostale Inc 8,244.74 09/09/2003 8,246.21 08/22t2OO3 (1.47) 0.00 58.00 Finish Line - Cl. A 1,441 .81 09/09/2003 1,399.35 08/11/2003 42.46 0.00 114.00 Finish Line - Cl. A 2,833.91 09/0912003 3,187.44 09/0212003 (353 .53) 0.00 211 .00 Finish Line - Cl. A 5,245.21 09/09/2003 5,828.85 09/04/2003 (583 .64) 0.00 100.00 K-Swiss Inc. - Cl. A 3,836.94 09/09/2003 3,993.81 08/29/2003 (156.87) 0.00 95.00 Priceline.corn Inc 3,596.30 09/09/2003 3,756.67 08/29/2003 (160.37) 000 181.00 Penwest Pharmaceuticals Co 3,688.60 09/09/2003 3,969.91 08/04/2003 (281 .31) 0.00 1.00 Pacific Sunwear Cal 20.24 09/09/2003 20.36 08/11/2003 (0.12) 0.00 124.00 Pacific Sunwear Cal 2,510.12 09/09/2003 2,598.73 08/12/2003 (88 .61) 0.00 124.00 Pacific Sunwear Cal 2,510.12 09109/2003 2,606.20 08/13/2003 (96.08) 000 130.00 T7-C Vision Corli 766 .75 09/09/2003 791 .70 07/25/2003 (24.95) 000 187.00 TIC Vision Corp 1,102.95 09/09/2003 1,146.31 08/07/2003 (43 .36) 0.00 60.00 TLC Vision Corp 353 .89 09/0912003 369 .00 08/13/2003 (15 .11) 0.00 11 .00 United Online Inc 420.07 09/09/2003 266 .32 06tO6/2003 153 .75 0.00 10.00 United Online Inc 381 .88 09/09/2003 247 .54 06/13/2003 13434 0.00 40.00 United Online Inc 1.527 .53 09/09/2003 1,143.29 07/03/2003 384 .24 0.00 89 .00 United Online Inc 3,398.75 09/0912003 2,466.19 07/18/2003 93256 0.00 196 .00 Wireless Facilities, Inc. 2,636.07 09/09/2003 1,948.95 05/21/2003 687.12 000 73.00 Wireless Facilities, Inc. 981 .80 09109/2003 722.20 05/22/2003 259.60 000 22-00 Wireless Facilities, Inc. 295.89 09/09/2003 22006 05/30/2003 75.83 0.00 189 .00 Alaris Medical Inc 3,02551 09/10/2003 2,805.50 07/07/2003 220.01 000 76.00 Finish Line - Cl. A 1,896.44 09/10/2003 1,799.68 07/03/2003 9676 000 192 .00 Finish lime - Cl. A 4,791.02 09/10/2003 4,417.92 07/21/2003 37310 0.00 45.00 Finish Line - Cl. A 1,122.89 09/10/2003 1,085.70 08/11/2003 37.19 000 83.00 K-Swiss Inc. - Cl. A 3,102.56 09/10/2003 3,314.86 08/29/2003 (21230) 000 58.00 Priccline.com Inc 2,094.85 09/10/2003 2,234.13 08t28/2003 (139 .28) 0.00 102.00 Priceline.com Inc 3,694.05 09/10(2003 4,033.48 08129/2003 (349 .43) 0.00 145.00 TLC Vision Corp 848 .61 09/10/2003 883 .05 07/25/2003 (34 .44) 0.00 146.00 Alaris Medical Inc 2,327.64 09/11/2003 2,167.21 07/07/2003 16043 0.00 40.00 Finish line - Cl. A 1,008.95 09/1112003 878.00 07/01/2003 130.95 0.00 79 .00 Finish Line - Cl. A 1,992.68 09/11/2003 1,805.12 07/02/2003 187 .56 0.00 n, .nc 1147.00 Fu Lich Line - Cl. A 1,185.52 09,11 Ir.00-11 11,0811 .1-71 0 7,-2 1 12 W 3j ~ vi

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32.00 Finish Line - CI A 80716 09/1112003 731 .43 08/08/2003 75 .73 000 93.00 K-Swiss Inc. - Cl. A 3,452.08 09/1112003 3,714.24 08/29/2003 (262.16) 0.00 266.00 Lexar Media Inc. 4,39169 09/11/2003 3,56323 07/24/2003 82846 0.00 133 .00 Lexar Media Inc. 2,195.85 09/11/2003 2,176.35 08/29/2003 19.50 0.00 136 .00 Lexar Media Inc. 2,245.38 09/11/2003 2,306.53 09/02/2003 (61.15) 000 439.00 TLC Vision Corp 2,506.56 09/11/2003 2,658.36 07/24/2003 (151 .80) 000 43.00 TLC Vision Corp 245.52 09/11/2003 26187 07/25/2003 (16.35) 0.00 145 .00 Wabash National Corp . 2,580.41 09/11/2003 2,63870 08/21/2003 (58.29) 0.00 232.00 Wabash National Corp 4,128 66 09/11/2003 4,33051 09/0212003 (201 .85) 0.00 100.00 Wabash National Corp . 1,779.60 0911112003 1,97390 09/09/2003 (194.30) 0.00 84.00 Wabash National Corp . 1,49486 09/11/2003 1,616.87 09/1012003 (12201) 000 79-00 Alaris Medical Inc 1,269.32 09/12/2003 1,084.19 07/03/2003 185 .13 0.00 18.00 Akiris Medical Inc 289.21 09/12/2003 267 .19 07/07/2003 2202 0.00 1.00 K-Swiss Inc. - Cl. A 3641 09/1212003 39.94 08129/2003 (3.53) 0.00 74.00 TLC Vision Corp 443.98 09/1212003 448.11 07/2412003 (413) 0.00 119.00 TLC Vision Corp 713.96 09/12/2003 717.78 08/06/2003 (3.82) 0.00 133.00 TLC Vision Corp 797.96 09/12/2003 724 .33 08/09/2003 73 .63 0.00 108.00 United Online Inc 4.037 .44 09/12/2003 2,614.78 0610612003 1,422.66 0.00 101.00 K-Swiss Inc. - Cl. A 3,75660 09/15/2003 3,049.96 04129/2003 70664 0.00 39.00 K-Swiss Inc. - Cl. A 1,450.57 09/15/2003 1,172.23 04/30/2003 27834 0.00 36.00 K-Swiss Inc. - Cl. A 1,33898 09/1512003 1,102.09 05/07/2003 23689 0.00 15 .00 K-Swiss Inc. - Cl. A 557.91 09/15/2003 59907 0&'2912003 (41.16) 0.00 35 .00 Medicines Company 1,025.18 09/15/2003 1,00540 08/21/2003 19 .78 0.00 183 .00 Medicines Company 5,36024 09/15/2003 5,272.23 08/29/2003 88 .01 0.00 207 .00 Medicines Company 6,06322 09/15/2003 5,99472 09/02/2003 68.50 0.00 140.00 Medicines Company 4,100.73 09/15/2003 4,081 .00 09/04/2003 19 .73 000 248 .00 Pacific Sunwear Cal 5,176.95 09/15/2003 5,050.11 08/1112003 126 .84 0.00 1.00 Pacific Sunwear Cal 20.87 09/15/2003 000 09/08/2003 20.87 0.00 196.00 Gen-probe Inc 11,189.15 09/1612003 6,271.92 05/01/2003 4,917.23 0.00 85-00 Gen-probe Inc 4,852.44 09/16t2003 2,806.70 05/07/2003 2,045.74 0.00 101 .00 K-Swiss Inc. - Cl. A 3,79439 09/16t2003 3,035.77 04/30/2003 75862 0.00 129 .00 K Two Inc 2,15674 09/16t2OO3 2,35598 09/0312003 (199 .24) 0.00 53-00 Medicines Company 1,495.56 09/16/2003 1,52246 0&21/2003 (26 .90) 000 104-00 Medicines Company 2,934.68 09/16/2003 2,933.84 08128/2003 084 0.00 372.00 Primus Telecommun Grp 2,820.36 09/16/2003 3,08221 09/05/2003 (261 .85) 000 118 .00 Therasense Inc 1,66393 09/16t2003 1,851.46 09/03/2003 (187 .53) 0.00 85-00 United Online Inc 3,327.23 09/16t2003 2,057.93 0610612003 1,269.30 0.00 54.00 United Online Inc 2,113.77 09/16/2003 1,244.66 06109/2003 869 .11 0.00 92-00 United Online Inc 3,601-24 09/16/2003 2,191.73 0611012003 1,409.51 0.00 121 .00 Wabash National Corp . 2,140-54 09/16/2003 2,201.95 08/21/2003 (61 .41) 0.00 65-00 Wabash National Corp . 1,149.88 09/16/2003 1,162.74 08122/2003 (12 .86) 0.00 83.00 K Two Inc 1,390.48 09/17/2003 1,515.86 09/0312003 (125 .38) 0.00 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 53 Gains and Loss Reportfront 1110112002 to 1013112003 Account: 06057070 -- RHD FOUNDATION-SMALL CAP

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197.00 Medicines Company 5,489.15 09/17/2003 5,543.40 08/19/2003 (54.25) 0.00 29.00 Medicines Company 808.05 09/17/2003 81594 0&*20/2003 (7.89) 000 3.00 Medicines Company 83 .59 09/17/2003 8463 08/28/2003 (104) 000 3.00 Primus Telecommun Grp 22.77 09/17/2003 2443 09/03/2003 (166) 000 55 .00 Primus Telecommun Grp 417.43 09/17/2003 45570 09/0512003 (38.27) 000 141.00 Primus TeIecommun Grp 1,070.13 09/17/2003 1,168.07 0910812003 (97.94) 0.00 34 .00 Tlierasense Inc 466.04 09/17/2003 53347 09/03/2003 (67 43) 0.00 150.00 Therasense Inc 2,056.04 09/17/2003 2,331 .66 09/04/2003 (275.62) 0.00 135.00 Thffasense Inc 1,850.44 09/17/2003 2,08063 09/05/2003 (23019) 0.00 157.00 Wabash National Corp. 2,779.15 09/17/2003 2,808.46 08r22/2003 (29.31) 0.00 11 .00 K Two Inc 183 03 09/1812003 199.20 08/1412003 (16.17) 0.00 47 .00 K Two Inc 78203 09/18t2003 858.38 09/0312003 (7635) 0.00 165.00 Therasense Inc 2,217.76 09/18/2003 2,50366 07/2912003 (28590) 0.00 38 .00 Therasense Inc 510.76 09118/2003 579.64 07/30/2003 (68.88) 0.00 58 .00 Therasense, Inc 779.58 09/18/2003 89390 09105/2003 (114 .32) 0.00 122.00 K Two Inc 1,913.91 09/19/2003 2,209.31 08/14/2003 (29540) 0.00 13 .00 K Two Inc 203.94 09/19/2003 234.36 08/1512003 (30.42) 0.00 36 .00 Medicines Company 1,007.59 09/19/2003 981.00 07128/2003 2659 000 152.00 Medicines Company 4,254.28 09/19/2003 4,276.66 0&-20/2003 (22.38) 0.00 83 .00 Medicines Company 2,323.06 09/19/2003 2,27542 08/2612003 47 .64 0.00 777.00 Openwave Systems Inc 3,364.94 09/1912003 4,187.80 0910312003 (82286) 0.00 87.00 Therasense Inc 1,160.69 09119/2003 1,320.11 07/29/2003 (159.42) 0.00 95.00 Atrix Labs Inc. 2,249.53 09/22/2003 2,777.79 08/2112003 (52826) 0.00 100.00 Atrix Labs Inc. 2,367.93 09/22/2003 3,068.00 09/02/2003 (70007) 0.00 12.00 K Two Inc 193.86 09/22/2003 216.05 08/1312003 (22.19) 0.00 72.00 K Two Inc 1,163.16 09122/2003 1,298.01 08/15/2003 (134.85) 0.00 315.00 Medicines Company 8,747.13 0912212003 8,583.75 07128/2003 163.38 0.00 23 .00 Medicines Company 638.68 0912212003 624.22 07129/2003 1446 000 479.00 Openwave Systems Inc 2,065.97 09/2212003 2,54435 09/02/2003 (478 .38) 0.00 191.00 Openwave Systems Inc 823.80 09/2212003 1,029.43 09/03/2003 (205 .63) 0.00 85 .00 Open Text Corp 2,986.75 09/2212003 3,25569 09/09/2003 (268 .94) 0.00 93 .00 Priceline.com Inc 2,990.90 09/2212003 2,961.19 07/25/2003 29 .71 000 239.00 Priceline.corn Inc 7,686.28 09/22/2003 7,757.96 07/29/2003 (7168) 0.00 84.00 Priceline.com Inc 2,701 .45 09/2212003 2,676.37 08101/2003 25 08 0.00 115.00 Priceline.com Inc 3,698.42 09/22/2003 3,684.75 08/1212003 13 .67 0.00 95 .00 Priceline.com, Inc 3,055.22 09/22/2003 3,122.75 08/1312003 (6753) 0.00 67 .00 Pnceline .corn Inc 2,154.73 09/2212003 2,248.90 08/1412003 (9417) 0.00 82 .00 Priceline.com Inc 2,637.13 09/2212003 3,158.60 08/28/2003 (521 .47) 0.00 59 .00 'Merasense Inc 770.69 09/2212003 895.25 07/29/2003 (124 .56) 0.00 83 .00 Therasense Inc 1,094.18 09/2212003 1,23082 09/02/2003 (146 .64) 0.00 347.00 Ask Jeeves Inc 7,734.09 09/23/2003 4,888.88 07/0212003 2,845.21 0.00 12.00 A .4 2060 .16 09/2'3n11 003 Jjv`0.80 0 Oow21/2003 fL6, A .72% 0.00

0 - 0 0 0 0 0 9 0 0 0 0 9 0

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Prenflum Discount) 123.00 Atnx Labs Inc. 2,933.17 09/23/2003 3,58244 08122/2003 (649 .27) 000 72.00 JetBlue Airways Corp 4,311.29 09/23/2003 3,111 .40 07/0212003 1,199.89 0.00 190.00 JetBlue Airways Corp 11,377 .01 09123/2003 8,500.49 0712512003 2,87652 0.00 76.00 K Two Inc 1,219.77 09/23/2003 1,36830 08/13/2003 (148 .53) 0.00 67 .00 Kyphoninc: 1,53567 09/23/2003 1,464.23 08/04/2003 71 .44 000 35 .00 Kyphonlnc 802 .21 09/23/2003 729.87 08/06(2003 72.34 0.00 152-00 Medicines Company 4,267.95 09/23/2003 4,12528 07/29/2003 14267 000 53 .00 Odyssey Heafthcare Inc. 1,669.29 09/23/2003 1,059.72 05/16/2003 609.57 0.00 93 .00 Odyssey Healthcare Inc 2,929.14 09/2312003 2,02864 06/10/2003 900.50 000 139 .00 Odyssey Healthcare Inc. 4,377.96 09/23/2003 3,150.84 06fl2/2003 1,227.12 0.00 490-00 Openwave Systems Inc 2,200.38 09/23/2003 2,602.78 09/02/2003 (40240) 000 444.00 Openwave Systems Inc 1,993.82 09123/2003 2,160.37 09/0512003 (166 .55) 0.00 157 .00 Openwave Systems Inc 70502 09/23/2003 800.61 09/08/2003 (95 .59) 000 55 .00 Open Text Corp 1,913.91 09/23/2003 2,044.75 09/0212003 (130 .84) 000 110.00 Open Text Corp 3,827.82 09/23/2003 4,191 .34 09/0512003 (363 .52) 0.00 15 .00 Open Text Corp 521 .98 09/23/2003 57453 09/09/2003 (52 .55) 0.00 85-00 Open Text Corp 2.957 .86 09/23/2003 3,055.75 09/17/2003 (97 .89) 000 125 .00 Priceline.com Inc 3,727.56 09/23/2003 3,148.58 05/23/2003 578.98 000 5.00 Priceline.com, Inc 149 .10 09123/2003 130-50 05/2712003 18 .60 0.00 15 .00 Priceline .com Inc 447.31 09/23/2003 38133 05/28/2003 6598 0.00 28 .00 Priceline.com Inc 834 .97 09/23/2003 720.01 05/30/2003 114.96 0.00 199 .00 Pricefine.com Inc 5,934.28 09/23/2003 4,966.54 06102/2003 967.74 000 3.00 Priceline.com hic 89 .46 09/23/2003 0.00 06/16f2003 89.46 0.00 117.00 Priceline .com Inc 3,489.00 09/23/2003 3,027.68 06/20/2003 461 .32 0.00 143 .00 Priceline .oom, Inc 4,264.33 09/2312003 4,553.22 07125/2003 (28889) 000 80-00 Pneeline .com Inc 2,385.64 09/23/2003 2,474.20 08/08/2003 (8856) 0.00 96-00 Powerwave Tech Inc 851 .27 09123/2003 972.87 09/0512003 (121 .60) 0.00 99 .00 Tlierasense Inc 1,309.79 09/23/2003 1,46809 09/02/2003 (158 .30) 0.00 96-00 Wabash National Corp. 1,761.69 09/23/2003 1,682.71 09/1812003 78.98 0.00 66-00 Wabash National Corp. 1,211.16 09/23/2003 1,180-63 08122/2003 3053 0.00 96-00 Ask Jeeves Inc 2,01370 09124/2003 1,162.96 05/1612003 850.74 0.00 3.00 Ask Jeeves Inc 62 .93 09r24/2003 42.27 07/02/2003 20.66 0.00 67.00 Atrix Labs Inc. 1,521.16 09/24/2003 1,898.78 08/26/2003 (377 .62) 0.00 198 .00 DSP Group Inc. 4,992.31 09/24/2003 5,618.90 08121/2003 (626 .59) 0.00 68.00 DSP Group Inc. 1,714.53 09/24r2OO3 1,947.79 08/22/2003 (13326) 0.00 65.00 K Two Inc 1,025.04 09/2412003 1,170.26 08/1312003 (145 .22) 0.00 72.00 K Two Inc 1,135.43 09/2412003 1,294.18 09/02/2003 (158 .75) 0.00 102 .00 Kyphonlnc 2,325.12 09/24/2003 2,127.06 08/06(2003 198.06 0.00 43.00 Openwave Systems Inc 200.24 09/24/2003 209.23 09/05/2003 (8.99) 000 182 .00 Therasense Inc 2,429.76 09/2412003 2,689.09 07/2812003 (259 .33) 0.00 94.00 Therasense Inc 1,254.93 09/2412003 1,393.94 09/0212003 (139 .01) 0.00 234.00 Wabash National Corp. 4,309.80 09/24/2003 4,097.32 08/13/2003 212.48 000 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 55 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purchase Realized Unarnortized Bond Ouantity Security Descrintion Proceeds Date cost Date Gain (- Loss) Premium Discount

110 .00 Wabash National Corp . 2,025.97 09/2412003 1,928.10 08/18/2003 97 .87 0.00 173 .00 Ask Jeeves Inc 3,401 .01 09/25/2003 2,095.76 05/16/2003 1,305.25 000 22.00 Ask Jeeves Inc 432.50 09/25/2003 25012 05/19/2003 182.38 0.00 68.00 DSP Group Inc. 1,69339 09125/2003 1,823.07 07/29/2003 (129.68) 0.00 102-00 DSP Group Inc. 2,540.09 09/25/2003 2,771.69 OV2212003 (231 .60) 0.00 122.00 K Two Inc 1,957.08 09/25/2003 2,174.89 08/18/2003 (217.81) 000 68.00 K Two Inc 1,09083 09/25/2003 1,213.17 08/25/2003 (122.34) 0.00 55 .00 K Two Inc 882.29 09/25/2003 988 .61 09/02/2003 (106.32) 000 85 .00 Kyphonlnc 1,957.45 09/25/2003 1,771.21 07/29/2003 186.24 0.00 17 .00 Kyphonlnc 391 .49 09/25/2003 354.51 08/06(2003 36.98 000 59-00 Therasense Inc 761 .53 09/25/2003 871 .74 07/28/2003 (110 .21) 000 166.00 Wabash National Corp. 2,827.66 09/25/2003 2,881.33 08/12/2003 (53.67) 000 15.00 Wabash National Corp. 255.51 09/25/2003 262 .65 08113/2003 (7.14) 000 110.00 Wabash National Corp 1,873.75 09/25/2003 1,923.32 08125/2003 (4957) 0.00 61 .00 K Two Inc 94438 09126(2003 1,087.45 08/1812003 (143 .07) 000 65.00 K Two Inc 1,006.31 09/2612003 1,139.74 0&122/2003 (133 .43) 0.00 361-00 Navigant Consulting Co, 4,504.95 09/26r2003 5,516.73 08/29/2003 (1,011 .78) 000 120-00 Odyssey Healthcare Inc. 3,423.82 09/2612003 2,396.80 05/15/2003 1,027.02 0.00 65-00 Odyssey Healthcare Inc. 1,854.57 09/2612003 1,299.65 05/1612003 554.92 000 2.00 Odyssey Healthcare Inc. 57.06 09/2612003 39.65 05/1912003 17.41 0.00 154-00 Therasense Inc 1,920.44 09/2612003 2,275.38 07/28/2003 (354 .94) 0.00 5.00 Iberasense Inc 62.35 09/2612003 71 .14 08/1112003 (8.79) 0.00 103.00 DSP Group Inc. 2,537.34 09/29/2003 2,731.96 07/28/2003 (194 .62) 0.00 58 .00 DSP Group Inc. 1,428.79 09/29/2003 1,554.97 07/29/2003 (126 .18) 0.00 30-00 DSP Group Inc. 739.03 09/29/2003 801 .28 08/01/2003 (62 .25) 000 163.00 K Two Inc 2,418.72 09/29/2003 2,858.12 08/22/2003 (439 .40) 0.00 86.00 KyphonInc 1,678.10 09/29/2003 1,792.05 07/29/2003 (113 .95) 0.00 357 .00 Mesa Air Group Inc. 3,877.94 09/29/2003 4,555.03 09/09/2003 (677 .09) 0.00 134.00 Mesa Air Group Inc. 1,455.58 09/29/2003 1,651.90 09/12/2003 (196 .32) 000 135-00 Navigant Consulting Co, 1,639.36 09/29/2003 1,938.82 08/04/2003 (299 .46) 000 333-00 Navigant Consulting Co 4,043.76 09/29/2003 4,863.00 08/28/2003 (819 .24) 000 178-00 Navigant Consulting Co 2,161 .53 09129/2003 2,720.16 08/29/2003 (558 .63) 000 159-00 Therasense Inc 1,954.20 09/29/2003 2,262.40 08/11/2003 (308 .20) 000 51.00 DSP Group Inc. 1,260.55 09/30/2003 1,341.35 07/25/2003 (80 .80) 000 5.00 DSP Group Inc. 123 .58 09/3012003 132.62 07/28/2003 (9.04) 0.00 109 .00 K Two Inc 1,605.71 09/30/2003 1,82562 08/1112003 (219 .91) 0.00 136 .00 K Two Inc 2,003.46 09/3012003 2,37939 08/12/2003 (375 .93) 000 67.00 K Two Inc 987.00 09/30r2003 1,17481 0812212003 (187 .81) 0.00 83.00 Mesa Air Group Inc. 913.27 09/30/2003 1,021.65 09/03/2003 (10838) 0.00 58-00 Mesa Air Group Inc. 638.19 09/3=003 71091 09/05/2003 (72.72) 0.00 257.00 Mesa Air Group Inc. 2,827.84 09/3012003 3,16819 09/12/2003 (340.35) 000 152.00 Navigant Consulting Co 1,876.27 098CV2003 2,126.05 07r29r2003 (249.78) 0.00

is ID 0 0 41 40 0 0 0 0 0

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230 .00 Navigant Consulting Co 2,839.10 09/30/2003 3,277.16 08/01/2003 (438.06) 0.00 108 .00 Navigant Consulting Co 1,333.14 09/30f2003 1,551.05 0810412003 (217.91) 0.00 72.00 Therasense Inc 90658 09/30/2003 1,017.16 09/04/2003 (11058) 0.00 1 .00 Therasense hic 12.59 09/30/2003 14.11 08/0812003 (1.52) 000 115 .00 Therasense Inc 1,44801 09/30/2003 1,636.32 08111/2003 (188.31) 000 250.00 Mesa Air Group Inc. 2,772.29 10/01/2003 3,056.18 09/04/2003 (283.89) 000 195 .00 Mesa Air Group Inc. 2,162.39 10101/2003 2,390.13 09/05/2003 (227 74) 000 18 .00 Tlierasense Inc 213 .88 1 OtO 1/2003 253 .77 08/01/2003 (39.89) 0.00 91 .00 Tlerasense Inc 1,08128 1 OtO 1 /2003 1,283.72 08/08/2003 (20244) 0.00 239.00 Mesa Air Group Inc. 2,711-58 10102/2003 2,86537 09/0212003 (153.79) 0.00 4.00 Mesa Air Group Inc. 45 .38 10102/2003 4890 09/0412003 (3.52) 0.00 281 .00 Gen-probe Inc 7,684-98 10t0612003 4,495.94 05/01/2003 3,189.04 0.00 215.00 Kyphon Inc 4,910-79 10/07/2003 4,306.43 07/25/2003 604.36 0.00 95.00 Kyphonlnc 2,169-89 10/07/2003 1,979.59 07/29/2003 190.30 000 93.00 Martek Biosciences Corp 4,986-33 10/07/2003 2,296.54 12/2012002 2,68979 0.00 115 .00 Martek Biosciences Corp 6,165-89 10107/2003 2,868.66 12131/2002 3,297.23 0.00 9.00 Martek Biosciences Corp 482.55 10/07/2003 224.73 01/02/2003 257 .82 0.00 63.00 Navigant Consulting Co 793-72 10/07/2003 838.93 07/23/2003 (4521) 0.00 64.00 Navigant Consulting Co 806-32 10/07/2003 87283 07/28/2003 (6651) 0.00 219.00 Navigant Consulting Co 2,759.12 10/07/2003 3,063.20 07/29/2003 (30-4.08) 0.00 155 .00 Navigant Consulting Co 1,952.80 10/07/2003 2,119.47 07/30/2003 (166 .67) 0.00 141 .00 Odyssey Healthcare Inc. 4,278.19 10/07/2003 2,79462 05/14/2003 1,483.57 0.00 140 .00 Odyssey Healthcare Inc. 4,247.84 1 W07/2003 2,775.40 05/19/2003 1,47244 000 237.00 Lexar Media Inc. 4,526.13 1010812003 3,009.17 07/18/2003 1,51696 000 45300 Lexar Media Inc. 8,651.21 10108/2003 5,66463 07/21/2003 2,986.58 000 77.00 Lexar Media Inc. 1,470.52 1010812003 1,031 .46 07/24/2003 439.06 000 191 .00 I-exar Media Inc. 3,647.64 10108/2003 2,459.13 07/29/2003 1,188.51 000 128 .00 Lexar Media Inc. 2,444.49 10108/2003 1,681 .13 07/30/2003 763.36 0.00 128 .00 Navigant Consulting Co 1,607.54 10108/2003 1,595.67 07/09/2003 11 .87 0.00 160 .00 Navigant Consulting Co 2,009.42 10108/2003 2,002.61 07/11/2003 6.81 0.00 252.00 Navigant Consulting Co, 3,164.84 1010812003 3,231 .45 07/14/2003 (6661) 0.00 27.00 Navigant Consulting Co 33909 10108/2003 359.54 07123/2003 (2045) 0.00 99.00 Odyssey Healthcare Inc. 2,957.97 10108/2003 1,96218 05/14/2003 995.79 0.00 1 .00 Odyssey Healthcare Inc. 29-88 10t0812003 0.00 08/13/2003 29.88 000 19 .00 Strayer Education Inc 1,822.89 1 GtO8/2003 1,937.81 09/23/2003 (114 .92) 0.00 1 .00 United Online Inc 34.67 1 Qf08/2003 22.07 04/3012003 12 .60 000 187 .00 United Online Inc 6,483.08 lOtO8/2003 4,310.22 06/09/2003 2,172.86 0.00 164 .00 Navigant Consulting Co, 2,061.86 1 W912003 2,01454 07/0212003 4732 0.00 98.00 Navigant Consulting Co 1,232.08 1=912003 1,221 .69 07/09/2003 1039 0.00 5.00 Strayer Education Inc 482-34 10t09/2003 445.41 08107/2003 36.93 000 88.00 Strayer Education Inc 8,489.17 10/09/2003 8,231 .46 08/11/2003 257.71 0.00 8.00 Strayer Education Inc 771 .74 10/09/2003 815.92 09123/2003 (44 .18) 0.00 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 57 Gains and Loss Reportfrom 1110112002 to 1013112003 Aecount. 06057070 -- RHD FOUNDA TION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Descrintion Proceeds Date Cost Date Gain (- Loss Premium Discount) 56-00 United Online Inc 1,743.04 10/09/2003 819.17 11/07/2002 923 .87 0.00 230 .00 United Online Inc 7,158.92 10/09/2003 4,463.40 04/03/2003 2,695.52 0.00 108 .00 United Online Inc 3,361.58 10/09/2003 2,09033 04/04/2003 1,27125 0.00 270 .00 United Online Inc 8,403.95 10/09/2003 5,397.35 0410812003 3,006.60 0.00 173 .00 United Online Inc 5,38475 10/09/2003 3,424.78 04/11/2003 1,959.97 0.00 150 .00 United Online Inc 4,668.86 10/0912003 3,054.62 04115/2003 1,614.24 0.00 35.00 United Online Inc 1,089.40 10/09/2003 73701 04/1612003 35239 0.00 174 .00 United Online Inc 5,41588 10109/2003 3,839.38 04/30/2003 1,57650 0.00 190.00 United Online Inc 5,91389 10/09/2003 4,178.35 05/0112003 1,73554 0.00 81 .00 United Online Inc 2,521 18 10/09/2003 1,77453 05/0212003 746.65 0.00 259-00 Navigant Consulting Co 3,210.75 10/10/2003 3,181 .50 07/0212003 2925 000 30.00 Navigant Consulting Co 37190 10/10/2003 36455 07/08/2003 7.35 000 88.00 Gen-probe Inc 2,164.69 10/1312003 1,407.98 05/01/2003 756.71 000 3.00 Martek Biosciences Corp 15410 10/1312003 69.77 12/1612002 84.33 0.00 115 .00 Martek Biosciences Corp 5,907.27 10/1312003 2,839.81 12/2012002 3,067.46 0.00 94-00 Navigant Consulting Co 1,193.63 10/1312003 1,114.00 06/2012003 79.63 0.00 160 .00 Navigant Consulting Co 2,031.71 10113/2003 1,927.60 07/01/2003 104.11 0.00 256.00 Navigant Consulting Co 3,250.74 10/13/2003 3,110.86 07/08/2003 139.88 0.00 422.00 Primus Telecommun Grp 2,95807 10/13/2003 3,437.11 09/03/2003 (479 .04) 0.00 49.00 Strayer Education Inc 4,73562 10/1312003 4,140.35 08/04/2003 595 .27 0.00 25.00 Strayer Education Inc 2,41614 10/13/2003 2,227.03 08/07/2003 189.11 0.00 464.00 Ask Jeeves Inc 9,743.54 10/14/2003 4,611 .09 05/06/2003 5,132.45 0.00 311 .00 Ask Jeeves Inc 6,530.69 10/1412003 3,535.85 05/19/2003 2,994.84 0.00 31 .00 Digene Corporation 1,337.62 10/14/2003 1,38447 09/23/2003 (46 .85) 0.00 80.00 Digene Corporation 3,451.91 10(14/2003 3,748.63 09/25/2003 (296 .72) 0.00 191.00 Gen-probe Inc 4,74994 10/1412003 3,055.96 05/01/2003 1,693.98 0.00 122.00 lpass Inc 2,97229 10/14/2003 3,470.90 09/18/2003 (498 .61) 0.00 76.00 JetBlue Airways Corp 5,124.46 W1412003 3,265.51 07/0112003 1,858.95 0.00 42.00 JetBlue Airways Corp 2.831 .94 10(1412003 1,814.98 07/02/2003 1,016.96 0.00 314.00 Kyphonlac 7,144.51 10/14/2003 6,289.39 07125/2003 855.12 0.00 54.00 Martek Biosciences Corp 2,765.21 10/14/2003 1,232.85 11125/2002 1,532.36 0.00 83 .00 Martek Biosciences Corp 4,250.23 10/14/2003 1,90862 12/02/2002 2,341.61 0.00 219.00 Martek Biosciences Corp 11,214.46 10/14/2003 5,09357 12116/2002 6,120.89 0.00 129.00 MGI Pharma Inc. 5,211.02 10/14/2003 5.47045 0910912003 (259 .43) 000 47.00 MGI Pharma Inc. 1,898.59 10/14/2003 1,901.82 09/25/2003 (3.23) 000 161.00 Navigant Consulting Co 2,129.27 10/1412003 1,708.66 06113/2003 420.61 000 160.00 Navigant Consulting Co 2,116.04 10/14/2003 1,740.13 0611612003 375.91 0.00 67 .00 Navigant Consulting Co 886.09 10114/2003 794.02 06/2012003 92.07 0.00 281 .00 Navigant Consulting Co 3,716.30 10t14/2003 3,182.92 06/25/2003 533 .38 0.00 78.00 Navigant Consulting Co 1,031.57 10/14/2003 893.97 06126t2OO3 137.60 0.00 124 .00 Navigant Consulting Co 1,639.93 lOtl4/2003 1,437.54 06t27/2003 202.39 0.00 135.00 Netease.com Inc. ADR 9,232,75 10IIAnOO3 1,504.99 1113an-0002 7,727.76 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

9.00 Netease .com Inc. ADR 615.52 10114/2003 101 .54 03/0412003 513 .98 0.00 4.00 Netease .com Inc. ADR 273.56 10/14/2003 44.20 03/0612003 229 .36 0.00 256-00 Primus Telecommun Grp 1,757.18 10/1412003 1,999.77 0&'27/2003 (24259) 0.00 78-00 Pnmus Telecommun Grp 53539 10/14/2003 635 .29 09/03/2003 (9990) 0.00 169-00 Sina Corp 7,077.38 10/14/2003 4,319.64 07/08/2003 2,757.74 000 39-00 Digene Corporation 1,596.82 10/1512003 1,508.57 09/08/2003 88 .25 0.00 41-00 Digcne Corporation 1,678.71 10115/2003 1,744.14 09/17/2003 (65 .43) 000 45.00 Digene Corporation 1,84248 10/15/2003 2,009.71 09/23/2003 (167 .23) 0.00 56.00 lpass Inc 1,365.40 1011512003 1,546.16 09/17/2003 (180 .76) 000 99.00 lpass Inc 2,413.83 10115/2003 2,816-55 09/18/2003 (402 .72) 0.00 172-00 Martek Biosciences Corp 8,788.79 10/15/2003 3,768.00 11/22/2002 5,02079 0.00 171-00 Martek Biosciences Corp 8,737.69 lOtl5/2003 3,90403 11/25/2002 4,83366 0.00 266-00 MGI Pharma Inc. 10,48378 1 Ot 15/2003 10,763 .48 09/25/2003 (279 .70) 000 31-00 Primus TeIecommun Grp 21856 10/15/2003 227 .48 08/2612003 (8.92) 0.00 203 .00 Prunus Telecommun Grp 1,431 .20 10/15/2003 1,585.75 08/27/2003 (154 .55) 0.00 32.00 Digene Corporation 1,287.94 1 Ot 1612003 1,233.06 09/03/2003 54.88 0.00 21 .00 Digene Corporation 845.21 10/1612003 806 .85 09/OV2003 38.36 0.00 88 .00 Digene Corporation 3,541 .83 10/16(2003 3,403.96 09/0812003 137 .87 0.00 166-00 Martek Biosciences Corp 8,265.95 10/16t2OO3 2,798 13 10/16t2OO2 5.467 .82 000 17400 MGI Pharma Inc. 6,636.52 10/16t2OO3 6,995.97 09/02/2003 (35945) 0.00 100.00 MGI Pharma Inc. 3,814.09 lQtl6t2OO3 4,014.01 09/03/2003 (199.92) 0.00 128 .00 MGI Pbarma Inc. 4,882.04 10/16/2003 5,179.42 09/25/2003 (297.38) 000 57.00 Netflix Inc 2,898.06 1 Ot 1612003 2,198.23 09122/2003 699.83 000 168 .00 Nedlix Inc 8,54166 lOtl6(2003 6,537.13 09/23/2003 2,004.53 0.00 159 .00 Avid Technology Inc. 8,765.11 10/17/2003 7,476.08 07/29/2003 1,289.03 000 30-00 Avid Technology Inc. 1,653.79 10/17/2003 1,306.78 08/07/2003 347 .01 0.00 50-00 Avid Technology Inc. 2,756.32 lOtl7/2003 2,461.35 08/19/2003 294 .97 0.00 84-00 Avid Technology Inc. 4,63063 10/17/2003 4,180.11 08/20/2003 450.52 0.00 454.00 CNET Inc. 3,67650 lGtl7/2003 4,167.77 09/09/2003 (491 .27) 000 168.00 CNET Inc. 1,360.47 10/17/2003 1,52900 09/12/2003 (16853) 0.00 180.00 lpass Inc 3,893.25 10/17/2003 4,878.27 09/16/2003 (985 .02) 000 8.00 Ipass Inc 173 .03 lOtl7/2003 220.88 09/17/2003 (47 .85) 0.00 120.00 lpass Inc 2,595.50 IW17/2003 3,26026 09/1912003 (664 .76) 000 77 .00 lpass Inc 1,665.45 lOtl7/2003 2,02433 09/23/2003 (35888) 0.00 32 .00 JetBIue Airways Corp 2,103.98 lOtl7/2003 1,30275 06125/2003 801 .23 000 28 .00 JetBlue Airways Corp 1,840.98 10/17/2003 1,203.08 07/01/2003 63790 0.00 74 .00 Avid Technology Inc. 4,055.90 10/20/2003 2,705.94 OW20/2003 1,349.96 0.00 93-00 Avid Technology Inc. 5,097.29 10/20/2003 4,051 .03 08/07/2003 1,046.26 0.00 140-00 Digene Corporation 5,402.26 1 WO/2003 5,378.97 09/04/2003 23 .29 0.00 12-00 MGI Pharma Inc. 399.51 10/20/2003 436.93 0810812003 (37 .42) 000 114.00 MGI Pharmn Inc. 3,795.38 1012012003 4,362.78 08128/2003 (567.40) 0.00 57.00 MGI Pharma Inc. 1,897.69 10/20/2003 2,287.99 09/03/2003 (390.30) 0.00 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 59 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDATION-SMALL CAP

Sale Purchase Realized Unarnortized Bond Ouantity Security Descrintion Proceeds Date cost Date Gain (- Loss) Premium Discount) 115 .00 Pozen Inc 1,358.32 10/20/2003 1,990.70 09/02/2003 (632 .38) 0.00 112.00 Pozen Inc 1,322.88 10/20/2003 2,025.24 09/0912003 (702 .36) 0.00 50.00 Pozen Inc 590.57 10/20/2003 889 .75 09/10/2003 (299 .18) 000 65.00 Pozen1nc: 767 .74 10120/2003 1,156.05 09/1112003 (388 .31) 0.00 118.00 Pozen Inc 1,393.75 10/20/2003 2,060.62 09/17/2003 (666 .87) 0.00 118.00 Pozen Inc 1,393.75 10/20/2003 2,1131 .00 09/19/2003 (737 .25) 0.00 53 .00 Pozen Inc 626.01 10/20/2003 950.82 10114/2003 (324 .81) 0.00 39.00 Pozen Inc 460.65 10/2012003 709.00 10/15/2003 (248 .35) 0.00 157.00 Pozen Inc 1,854.40 10/20/2003 2,864.94 10/16/2003 (1,010 .54) 0.00 79.00 Pozen Inc 933 .10 10/20/2003 1,433.00 10/17/2003 (499 .90) 0.00 85 .00 Avid Technology Inc. 4,709.68 10/21/2003 3,082.11 06/04/2003 1,62757 0.00 19.00 Avid Technology Inc. 1,052.75 10/21/2003 689.73 06/05/2003 363.02 0.00 17.00 Avid Technology Inc. 941 .94 10/21/2003 621 .63 06/2012003 320.31 0.00 125 .00 CNET Inc. 1,014.65 10/21/2003 1,125.59 09/08/2003 (11094) 0.00 282.00 CNET Inc. 2,289.05 10/21/2003 2,566.54 0911212003 (277 .49) 0.00 188.00 CNET Inc. 1,526.04 10/21/2003 1,679.61 09/24/2003 (153 .57) 0.00 19.00 Digene Corporation 726.90 10121/2003 620.00 08/0512003 106 .90 0.00 62.00 Digene Corporation 2,372.01 10/21/2003 2,382.11 09/04/2003 (10 .10) 0.00 5.00 Digene Corporation 191 .29 10/21/2003 187 .12 09/05/2003 4.17 0.00 33 .00 Digene Corporation 1,262.52 10/21/2003 1,261 .95 09/10/2003 0.57 000 92.00 lpass Inc 1,792.61 10/21/2003 2,391 .13 09/22/2003 (598 .52) 000 23 .00 lpass Inc 448 .15 10/21/2003 604.67 09/23/2003 (156 .52) 0.00 10-4.00 J2 GLOBAL COMMUNICATIONS INC 3,602.82 10/21/2003 2,667.12 07/08/2003 935.70 0.00 190.00 J2 GLOBAL COMMUNICATIONS INC 6,582.07 1012112003 5,060.41 07/10/2003 1,521 .66 000 190.00 J2 GLOBAL COMMUNICATIONS INC 6,582.07 10/21/2003 5,132.16 07/14/2003 1,449.91 0.00 126 .00 J2 GLOBAL COMMUNICATIONS INC 4,364.95 10/21/2003 3,24053 07/23/2003 1,124.42 000 254 .00 J2 GLOBAL COMMUNICATIONS INC 8,799.19 10/21/2003 6,865.00 07/28/2003 1,934.19 0.00 116 .00 J2 GLOBAL COMMUNICATIONS INC 4,018.53 10/21/2003 3,089.03 07/29/2003 929.50 0.00 30.00 J2 GLOBAL COMMUNICATIONS INC 1,039.27 10/21/2003 815 .13 07/31/2003 224.14 0.00 92.00 12 GLOBAL COMMUNICATIONS INC 3,187.11 10/21/2003 2,486.78 08/01/2003 70033 0.00 160 .00 J2 GLOBAL COMMUNICATIONS INC 5,542.80 10/21/2003 4,568.85 08/18/2003 97395 0.00 66.00 J2 GLOBAL COMMUNICATIONS INC 2,286.40 10/21/2003 2,027.85 08128/2003 258.55 000 89.00 J2 GLOBAL COMMUNICATIONS INC 3,083.18 10/21/2003 3,571 .08 09/11/2003 (487 .90) 000 60.00 MGI Pharma Inc. 2,168.29 10/21/2003 1,733.23 07/1612003 435.06 000 88.00 MGI Pharma Inc. 3,18017 10121/2003 3,204.16 08/08/2003 (23 .99) 000 33.00 Pozen Inc 365 .59 10/21/2003 528.33 08/28/2003 (162 .74) 0.00 236 .00 PozenInc: 2,614.54 10/21/2003 3,819.14 08/29/2003 (1,204 .60) 0.00 45.00 Pozen Inc 498.54 10/21/2003 778.97 09/02/2003 (280 .43) 0.00 7.00 Pozen Inc 77.55 10121/2003 120 .45 09/0512003 (42 .90) 000 -tIO2.00 PozenInc: 1,130.01 10/21/2003 1,723.80 09/16/2003 (59379) 0.00 100 .00 Avid Technology Inc. 5,393.74 10122/2003 3,58266 06/03/2003 1,811.08 0.00 6.00 Avid Technology Inc. 323 .62 10122,12003 2117.56 06(w=j, 106. 06 0.00

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Sale Purchase Realized Unarnortized Bond Guantity Security Descriptio Proceed Date cost Date Gain (- Loss) Premium Discount)

74-00 Avid Technology Inc. 3,991 .37 10/2212003 2,52687 06/13/2003 1,464.50 000 43.00 CNET Inc. 345.27 10/2212003 370.87 09/22/2003 (25 .60) 0.00 182-00 CNET Inc. 1,46139 1012212003 1,61874 09/23/2003 (157 .35) 0.00 24.00 CNET Inc. 19271 10/2212003 214.42 09/2412003 (21 .71) 000 106 .00 Digenc Corporation 3,886.09 10/2212003 3,445.03 08/0112003 441 .06 000 63-00 Digene Corporation 2,309.66 10/22/2003 2,055.78 Oa/05/2003 25388 0.00 53-00 Digene Corporation 1,94305 10/22/2003 1,693.33 08/08/2003 249 .72 0.00 70.00 MGI Pharma Inc. 2,471 .58 10/2212003 2,02210 07/16/2003 449.48 0.00 326.00 Pozen Inc 3,636.58 1 W22/2003 4,837.74 08/22/2003 (1,201 .16) 0.00 27.00 Pozen Inc 301 .19 lOf2212003 432.27 08f29/2003 (131 .08) 0.00 268 .00 Ask Jecves Inc 5,287.39 10/23/2003 1,84612 02/20/2003 3,44127 0.00 67.00 Ask Jeeves Inc 1,321 .85 10/23/2003 44366 02125/2003 878 .19 0.00 130-00 Ask Jecves Inc 2,564.78 1012312003 1,291.90 05/0612003 1,27288 0.00 26.00 Avid Technology Inc 1,332.99 10/2312003 887.82 06113/2003 445 17 0.00 58.00 CNET Inc. 46467 10123/2003 500.24 09/22/2003 (35 .57) 0.00 85 .00 Ipass Inc 1,602.17 10/23/2003 2,209.19 09/22/2003 (607 .02) 0.00 105 .00 letBlue Airways Corp 6,597.83 10/23/2003 4,274.64 06/25/2003 2,323.19 000 74.00 MGI Pharma Inc. 2,593.58 10/2312003 2,093.42 06/13/2003 500.16 0.00 104 .00 MGI Pharma Inc. 3,645.03 10123/2003 2,615.12 06/20/2003 1,029.91 000 48.00 MG] Pharma Inc. 1,682.32 10123/2003 1,38658 07/16r2003 29574 0.00 6.00 Pozen Inc 6653 10/2312003 89.04 08/2212003 (22.51) 000 300.00 CNET Inc. 2,283.58 10/24/2003 2,576.85 08/28/2003 (293 .27) 000 117-00 CNET Inc. 890.60 IGOA/2003 1,005.15 09/05/2003 (114.55) 0.00 108-00 CNET Inc. 822.09 10?A/2003 931 .49 09/2212003 (109.40) 0.00 565 .00 Covad Cornmun*cations 2,221 .12 IGQ4/2003 3,712.28 09/23/2003 (1,491 .16) 0.00 470.00 Covad Cornmun*cations 1,847.66 10124/2003 3,326.80 09124/2003 (1,479 .14) 0.00 33-00 JaBlue Airways Corp 1,878.81 10/24/2003 1,343.46 06125/2003 535.35 000 86 .00 J2 GLOBAL COMMUNICATIONS INC 2,683.74 10/24/2003 2,205.50 07/08/2003 478.24 000 10 .00 J2 GLOBAL COMMUNICATIONS INC 312.06 1012412003 25244 07122r2003 5962 0.00 219.00 Netease com Inc. ADR 13,393 .41 1 Ga4/2003 2,372.41 03/05/2003 11,02100 000 158-00 Netease .com Inc. ADR 9,66283 1012412003 1,74584 03/0612003 7,91699 000 58.00 Netease .corn Inc. ADR 3,547.11 10/2412003 62544 03/07/2003 2,92167 000 54.00 Sma Corp 2,149.94 10/24/2003 1,26579 07/0212003 88415 000 22.00 Sma Corp 875.90 IQQ4f2003 562 .32 07/O&f2OO3 313.58 0.00 137 .00 Ultratech Stepper Inc. 3,926.20 lOn4/2003 4,258.21 09/24/2003 (33201) 0.00 103 .00 Ask Jceves Lac 1,917.65 10/27/2003 63289 02/05/2003 1,28476 0.00 245.00 Ask Jeeves Inc 4,561 .39 10/27/2003 1,554.53 02/11/2003 3,006.86 0.00 124 .00 Ask Jeeves Inc 2,30862 1012712003 770.57 02/12/2003 1,53805 0.00 350.00 Ask Jeeves Inc 6,51627 1 Of27f2OO3 2,287.81 0211812003 4,228.46 0.00 188 .00 Ask Jecves Inc 3,500.17 10/27/2003 1,244-90 02./25/2003 2,25527 0.00 147 .00 Ask Jeeves Inc 2,736.83 10/2712003 927.57 02/2612003 1,809.26 000 157 .00 Ask Jeeves Inc 2,923.01 10/27/2003 1,023.26 03/24/2003 1,899.75 0.00 Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 61 Gains and Loss Reportfrom 1110112002 to 1013112003 Aeeount. 06057070 -- RHD FOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouanti Security Descrintion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

3400 CNET Inc. 262.14 10127/2003 292.04 0W28/2003 (29 .90) 0.00 118 .00 CNET Inc. 90979 10127/2003 993.85 09/02/2003 (84 .06) 0.00 307.00 J2 GLOBAL COMMUNICATIONS INC 9,689.23 IW27/2003 7,74983 07/2212003 1,93940 000 58.00 MGI Pharma Inc. 2,01702 10/2712003 1,24847 06/02/2003 768.55 000 14 .00 MGI Pharron Inc. 486.87 10/27/2003 352.04 06/20/2003 134 .83 0.00 107.00 Spectralink Corporation 1,922.34 10/2712003 2,32630 09/25/2003 (403 .96) 0.00 91 .00 Ultratech Stepper Inc. 2,659.00 10/27/2003 2,741 .29 09/05/2003 (82 .29) 0.00 50.00 Ultratech Stepper Inc. 1,46099 10/27/2003 1,554.09 09/24/2003 (93 .10) 0.00 102.00 Ask Jeeves Inc 1,927.71 10/2812003 597.95 02/04/2003 1,329.76 0.00 411 .00 Ask Jeeves Inc 7,767.53 10/28/2003 2,52543 02/05/2003 5,242.10 000 110.00 Ask Jeeves Inc 2,078.90 10/28/2003 66880 02/0612003 1,41010 000 315 .00 Ask Jeeves; Inc 5,953.22 10/2812003 1,910.98 02/1012003 4,042.24 000 232.00 Ask Jeeves Inc 4,384.59 10/28/2003 1,388.36 03/0712003 2,996.23 000 153.00 Ask Jeeves Inc 2,891.56 10128/2003 904.77 03/10/2003 1,986.79 0.00 116.00 Avid Technology Inc. 5,80351 10/28/2003 3,943.57 06109/2003 1,859.94 000 13.00 Avid Technology Inc. 650.39 10128/2003 443.91 06t13/2003 20648 0.00 216.00 CNET Inc. 1,689.72 1012812003 1,819.26 09/0212003 (129 .54) 000 232.00 Digene Corporation 8,769.18 10128/2003 3,721 .79 02111/2003 5,047.39 0.00 62.00 Digene Corporation 2,343.49 10/28/2003 1,980.88 08/08/2003 362.61 0.00 77 .00 Digital River Inc. 2,132.45 10128/2003 2,381 .40 09/23/2003 (248 .95) 0.00 99.00 Digital River Inc. 2,741.72 10128/2003 3,060.32 09/24/2003 (318 .60) 0.00 67 .00 Digital River Inc. 1,855.51 10/2&7003 2,255.47 10/09/2003 (399 .96) 0.00 190.00 J2 GLOBAL COMMUNICATIONS INC 5,661.73 1012812003 4,701 .60 07/16/2003 960.13 0.00 51 .00 J2 GLOBAL COMMUNICATIONS INC 1,519.73 lGt28/2003 1,287.43 07/22/2003 232.30 0.00 119.00 MGI Pharma Inc. 4,271.90 10/28/2003 2,082.89 05/14/2003 2,189.01 0.00 20.00 MGI Pharma Inc. 717 .97 10/28/2003 349.40 05/15/2003 368.57 0.00 83 .00 MGI Pharma Inc. 2,979.56 1012812003 1,786.61 06(0212003 1,192.95 0.00 234.00 Spectralink Corporation 3,865.92 10128/2003 5,087.42 09/25/2003 (1,221 .50) 0.00 340.00 Spectralink Corporation 5,617.15 10/28/2003 7,163.80 10/03/2003 (1,546 .65) 0.00 38.00 Ultratech Stepper Inc. 1,170.35 10128/2003 1,143.36 09/04/2003 26.99 0.00 130 .00 Ultratech Stepper Inc. 4,003.83 1012&'2003 3,916.13 09/05/2003 87 .70 0.00 206 .00 ValueClick, Inc. 1,826.25 10/2812003 1,906.02 08/2912003 (79 .77) 0.00 273 .00 ValucClick, Inc. 2,420.22 10/2&'2003 2,521 .62 09/02/2003 (101 .40) 0.00 332 .00 ValueClick, Inc. 2,943.27 10/28/2003 3,087.60 09/05/2003 (144 .33) 0.00 297 .00 ValueClick, Inc. 2,632.99 10/28/2003 2,747.22 09/09/2003 (114 .23) 000 146 .00 ValueClick, Inc. 1,294.33 10/28/2003 1,345.27 09/15/2003 (50.94) 000 95.00 ValueClick, Inc. 842 .20 10128/2003 889.20 09/16/2003 (47 .00) 0.00 220.00 ValueClick, Inc. 1,950.36 10128/2003 2,114.13 09/17/2003 (163 .77) 0.00 154 .00 ValueClick, Inc. 1,365.25 10/28/2003 1,546.50 09/18/2003 (181 .25) 0.00 1 .00 ValueClick, Inc. 8 87 10128/2003 9.80 09/23/2003 (093) 0.00 251 .00 Netease .corn Inc. ADR 12,687 .15 1012912003 2,534.90 12118/2002 10,152 .25 0.00 54.00 Netease.corn Inc. ADR 2,729.51 1001 Q R/ 2 0 03 568.59 12119rt~ 2,14-0.92 0.00

0 0 0 0 0 0 0 0 0 0 0 0 0

Driehaus Capital Management Friday January 23, 2004 16:54:16 Page 62 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06057070 -- RRD FOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouanti Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

90.00 Netease com. Inc. ADR 4,549.18 10/29/2003 97051 03/07/2003 3,578.67 0.00 102 .00 ValueClick, Inc. 89544 10129/2003 905 .13 08/28/2003 (969) 0.00 180 .00 VahieClick, Inc. 1,580.18 10/29/2003 1,655.64 09/03/2003 (7546) 0.00 103.00 ValueClick, Inc. 90421 10129/2003 927 .78 09/04/2003 (23 .57) 0.00 200.00 ValueClick, Inc 1,755.76 10129/2003 1,822.00 09/10/2003 (6624) 0.00 191.00 ValueClick, Inc. 1,676.75 10/29/2003 1,69608 09/1112003 (19.33) 000 143.00 ValueClick, Inc. 1,255.36 10/29/2003 1,29421 09/1212003 (38.85) 0.00 47.00 ValueClick, Inc. 412.60 10/29/2003 433 .07 09/15/2003 (20.47) 0.00 172.00 WMS Industries Inc. 4,157.39 10/29/2003 4,379.43 09/02r2003 (222.04) 000 172.00 WMS Industries Inc. 4,157.39 10/29/2003 4,427.83 09/03/2003 (270.44) 0.00 173.00 WMS Industries Inc. 4,181 .56 10/29/2003 4,510.80 09/0412003 (329.24) 0.00 86.00 WMS Industries Inc 2,078.69 10/29/2003 2,226.02 09/05/2003 (147 .33) 0.00 16.00 WMS Industries Inc. 386 .73 10/29/2003 401 .60 09/09/2003 (14.87) 000 59 .00 Avid Technology Inc. 3,159.32 10/30/2003 1,976.26 05/29/2003 1,183.06 0.00 25 .00 Avid Technology Inc. 1,338.69 10/30/2003 849.91 06109/2003 488 .78 0.00 236 .00 Digene Corporation 8,735.39 10/3012003 3,78596 02/11/2003 4,949.43 000 124.00 Digital River Inc 3,636.02 10/30/2003 3,636.08 09/17/2003 (006) 000 129.00 Digital River Inc. 3,782.63 10/3012003 3,987.69 09/24/2003 (20506) 0.00 96.00 Netflix Inc 5,657.97 100=003 3,492.16 09/16/2003 2,165.81 0.00 98 .00 Netflix Inc 5,775.85 10/3=003 3,779.42 09/22/2003 1,996.43 0.00 176.00 NektarTherapeutics 2,284.37 10/30/2003 2,647.92 10/1412003 (363 .55) 0.00 281 .OD Nektar Therapeutics 3,647.21 1050/2003 4,18901 10/15/2003 (541 .80) 0.00 350.00 Scientific Games Corp-A 4,399.33 10/30/2003 4,464.36 09/24/2003 (65 03) 0.00 166.00 Scientific Games Corp-A 2,086.54 10/30/2003 2,096.75 10103/2003 (1021) 0.00 181.00 Scientific Games Corp-A 2,275.08 10130/2003 2,297.89 10/0912003 (22.81) 0.00 471 .00 Scientific Games Corp-A 5,920.23 10/3012003 5,970.87 10/14/2003 (50-64) 0.00 262 .00 Supportcorn Inc 3,264.36 10/3012003 3,561 .94 10/07/2003 (297 .58) 0.00 184 .00 Ultratech Stepper Inc. 5,754.69 10/30/2003 5,349.45 08/21/2003 405.24 0.00 52 .00 Ultratech Stepper Inc 1,626.33 10/30/2003 1,564.60 09/0412003 61 .73 0.00 160.00 Ultratech Stepper Inc. 5,004.08 10/30/2003 4,77739 09/11/2003 226 .69 000 169 .00 ValueClick, Inc. 1,468.54 10/3012003 1,38665 07/31/2003 81 .89 0.00 480.00 ValueClick, Inc. 4,171 .00 10/30/2003 4,259.42 08/2W2003 (88 .42) 0.00 87.00 WMS Industries Inc. 2,115.34 1013012003 2,183.70 09/09/2003 (68 .36) 000 252.00 Avid Technology Inc. 13,07823 10/31/2003 7,872.05 05/2712003 5,20618 0.00 193 .00 Avid Technology Inc. 10,016 .27 10/31/2003 6,464.71 05/29/2003 3,551 .56 0.00 1 .00 Digcne Corporation 33.94 10/31/2003 16 .04 02/11/2003 17 .90 0.00 138 .00 Digene Corporation 4,683.96 10/31/2003 2,178.91 02/1212003 2,505.05 0.00 100 .00 Digene Corporation 3,394.18 10/31/2003 1,564.70 02114/2003 1,829.48 0.00 167 .00 Digital River Inc. 4,594.60 10/31/2003 4,803.30 09/05/2003 (208 .70) 0.00 83.00 Digital River Inc. 2,283.55 10(31/2003 2,40659 09/0912003 (123 04) 0.00 3.00 Digital River Inc. 82.54 10(31/2003 87.97 09/17/2003 (5.43) 000 365 .00 Supportcom, Inc 4,376.65 10131/2003 4,940.90 W(W2003 (564-25) 0.00 Dfiehaus Capital Management Friday January 23, 2004 16:54:16 Page 63 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDATION-SMALL CAP

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Prerniurn (- Discount)

3.00 Support.corn Inc 35.97 1013112003 40.79 1010712003 (4.82) 000 298 .00 VaIueC]ick, Inc. 2,339.19 10131/2003 2,173.91 07/08/2003 165 .28 0.00 318 .00 ValucClick, Inc. 2,496.18 10131/2003 2,247.59 07/1012003 24859 000 59400 ValueClick, Inc. 4,662.68 10/31/2003 4,453.28 07/23/2003 209.40 000 322 .00 ValueClick, Inc. 2,527.58 10(31/2003 2,533.72 07/30/2003 (614) 000 128 .00 ValueClick, Inc. 1,004.75 1013112003 1,05024 07/31/2003 (4549) 000 131 .00 ValueCfick, Inc 1,028.30 10131/2003 1,06503 08/01/2003 (3673) 0.00 485.00 ValueCliclc~ Inc 3,807.07 10131/2003 3,763-60 08/0412003 43 .47 0.00 245.00 ValueClick, Inc. 1,923.16 10/31/2003 1,857.00 08/0&-2003 66.16 0.00

GAINS ONLY Total 708,640.31

LOSSES ONLY Total (334,978.64)

STOCK - Short Term 5,114,298 .81 i,740,636.99 373661.67 Security Litigation + 3,228 .37 376,890 .04

54.00 Hotel.Com CL A 3,372.78 11/08/2002 1,557.90 lGtO5/2001 1,814.88 0.00 74.00 Expedia Inc -CL A 5,062.19 11/13/2002 1,518.72 04/18/2001 3,543.47 0.00 32.00 Hotel.Corn CL A 1,966.65 11/13/2002 738 .88 09/25/2001 1,227.77 0.00 31.00 Hotel.Com CL A 1,905-19 11/13/2002 894.35 10/05/2001 1,010.84 0.00 28.00 Expedia Inc -CL A 1,968-90 11/19/2002 557 .72 04/17/2001 1,411.18 0.00 34.00 Expedia Inc -CL A 2,39081 11/19/2002 697.79 04/18/2001 1,693.02 0.00 25.00 Coinstar Inc. 619.63 11/21/2002 579.47 08/0912001 40.16 000 85.00 Coinstar Inc. 2,106.76 11/21/2002 1,970.30 08/13/2001 136.46 000 59.00 Expedia Inc -CL A 4,355.92 11/21/2002 1,175.19 04/17/2001 3,180.73 0.00 5.00 Coinstar Inc. 126-00 11/25/2002 114 .17 07/12/2001 11 .83 0.00 271 .00 Coinstar Inc. 6,829-10 11/25/2002 6,195.76 08/03/2001 63334 0.00 19.00 Coinstar Inc. 478 .79 11/25/2002 440.40 08/09/2001 38 .39 0.00 12.00 Coinstar Inc. 302.40 11/25/2002 27720 08116t2001 25 .20 000 3.00 Coinstar Inc. 7560 11/25/2002 69.11 08/17/2001 649 000 4.00 Coinstar Inc. 10080 11125/2002 91 .40 08nOC001 9.40 000 48.00 Coinstar Inc. 1,192.13 1112712002 1,096.03 07/12/2001 96.10 000 94.00 Coinstar Inc. 2,33460 11/27/2002 2,101 .76 08/06/2001 232 .84 0.00 106.00 Coinstar Inc. 2,56632 11129/2002 2,346.56 07/11/2001 219 .76 0.00 62.00 Coinstar Inc. 1,501 .05 11/29/2002 1,386.26 08/06/2001 114 .79 0.00 64.00 Expedia Inc -CL A 4,471 .99 12/16t2OO2 1,274.78 04/1712001 3,197.21 000 155.00 Hotel.Com CL A 9,192.04 1212012002 3,578.95 09125/2001 5,613.09 000 93.00 Knspy Krerne Doughnuts Inc 3,039.80 12/2612002 1,418.24 06/20/2000 1,621 .56 0.00 126.00 Krispy Krerne Doughnuts Inc 4,297.95 01/06r2003 1,921 .49 06(2012000 2,376.46 0.00 22.00 Krispy Krerne Doughnuts Inc 75044 01/06/2003 335.24 07/12/2000 415.20 0.00 206.00 Chico's FAS Inc. 3,493.69 03106/2003 3,308.85 02/0812002 184 .84 0.00

0 0 0 -- - - _0 - - 0 0 0 0 - -0- 0 0 0 0 0 0 0 0 0 0 0

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Sale Purchase Realized Unamortized Bond Ouand Security Description Proceeds Date cost Date Gain (- Loss) Pren-dum Discount)

156.00 Chico's FAS Inc. 2,66514 03/07/2003 2,416.14 02105/2002 249.00 0.00 24.00 Chico's FAS Inc. 41002 03/07/2003 385.50 02/0812002 2452 0.00 180.00 Chicds FAS Inc. 3,095.81 03/10/2003 2,787.85 02105/2002 307 .96 000 178.00 Chicos FAS Inc. 3,071.57 03/11/2003 2,75687 02/05/2002 314.70 000 4000 Ultra Petroleum Corp ADR 353.64 03/1712003 324.00 03/15/2002 29.64 0.00 223 .00 Ultra Petroleum Corp ADR 1,964.28 03/18/2003 1,806.30 03/15/2002 157 .98 0.00 87 .00 Ultra Petroleum Corp ADR 767.85 03/19/2003 704.70 03/15/2002 63 .15 0.00 326 .00 Ultra Petroleum Corp ADR 2,888.15 03/28f2003 2,631 .80 03/2512002 256.35 0.00 133 .00 Ultra Petroleum Corp ADR 1,163.99 03/31/2003 1,073.71 03125/2002 90.28 0.00 326 .00 Ultra Petroleum Corp ADR 2,79665 04102/2003 2,631 .80 03/25/2002 164.85 0.00 28 .00 Ultra Petroleum Corp ADR 23643 04103/2003 222.07 03/20/2002 14.36 0.00 101 .00 Ultra Petroleum Corp ADR 852.82 W03/2003 815.37 OMM002 37 .45 000 154 .00 Ultra Petroleum Corp ADR 1,300.34 04/03/2003 1,239.70 03/27/2002 60.64 0.00 196 .00 Ultra Petroleum Corp ADR 1,647.44 04104/2003 1,554.46 03/20/2002 92.98 0.00 392.00 Ultra Petroleum Corp ADR 3,247.32 04107/2003 3,108.91 03/20/2002 138.41 0.00 200.00 Krispy Kreme Doughnuts Inc 6,546.75 04/2912003 3,047.64 07/12/2000 3,499.11 0.00 132 .00 Knspy Kreme Doughnuts Inc 4,205.41 05/05/2003 2,011-44 07/1212000 2,193.97 0.00 132 .00 Knspy Kreme Doughnuts Inc 4,201.76 05/06t2OO3 2,011-44 07/1212000 2,190.32 0.00 120 .00 Krispy Kreme Doughnuts Inc 3,709.74 05/08/2003 1,79550 0611312000 1,914.24 000 14 .00 Krispy Kreme Doughnuts Inc 432.80 05/0812003 213.33 07/12/2000 21947 000 141 .00 JetBlue Airways Corp 4,957.92 06(05/2003 4,215.42 04115/2002 742.50 0.00 19 .00 JetBlue Airways Corp 668.09 06tO5/2003 579.14 04/1612002 88.95 0.00 19 .00 letBlue Airways Corp 668.09 06tO5/2003 588.95 04/17/2002 7914 000 90.00 Jetl3lue Airways Corp 3,164.63 06/05/2003 2,69935 04/25/2002 46528 0.00 42.00 JetBlue Airways Corp 1,476.83 0610512003 1,264.06 0412612002 21277 0.00 50.00 United Online Inc 1,55629 10109/2003 678.66 08120/2002 877.63 0.00 83 .00 United Online Inc 2,589.55 10110/2003 1,12657 OW20/2002 1,462.98 0.00 78 .00 United Online Inc 2,40958 10/13/2003 1,058.70 08/20/2002 1,350.88 000 116 .00 United Online Inc 3,58348 10/13/2003 1,48414 08/21/2002 2,09934 000 90.00 United Online Inc 2,312.89 1 Ot 14/2003 1,151 .49 08/21/2002 1,16140 000 18 .00 Martek Biosciences Corp 919.76 lOtl5/2003 314.09 08/27/2002 605.67 0.00 147 .00 Martek Biosciences Corp 7,51135 10/15/2003 2,61444 08128/2002 4,89691 000 201 .00 Martek Biosciences Corp 10,27062 10/1512003 3,687.81 09/11/2002 6,582.81 000 77.00 Martek Biosciences Corp 3,834.20 10/16/2003 1,343.62 O8f2712002 2,49058 0.00 94.00 JetBlue Airways Corp 5,351.76 10/2412003 2,810.28 04115/2002 2,541 .48 0.00 4.00 JetBlue Airways Corp 228.74 10/27/2003 11258 04/12/2002 116 .16 000 185 .00 JetBlue Airways Corp 10,579.30 1 Ot27/2003 5,53087 04/1512002 5,04843 0.00 114.00 letBlue Airways Corp 6,513.00 10/28/2003 3,208.64 04/12/2002 3,304.36 0.00

GAINS ONLY Total 75,001 .66

LOSSES ONLY Total 0.00 I

Dfiehaus Capital Management Friday January 23, 2004 16:54:16 Page 65 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057070 -- RHD FOUNDA TION-SHALL CAP

Sale Purchase Realized Unamortized Bond Ouantit Security Description Proceeds Date Cost Date Gain (- Loss) Premium (- Discount

STOCK - Long Term 178,655.52 103,653.86 75,001 .66

Grand Total 451,891 .70

0 0 0 0 0 0 0 0 0 0 0 0 0

Driehaus Capital Management Friday January 23, 2004 16:57.39 Page I Gains and Loss Reportfrom 1110112002 to 1013112003 Aeeount. 06057508 -- RHD - FOUNDATION- RECOVERY

Sale Purchase Realized Unamortized Bond Ouantity Security Descriotion Proceeds Date cost Date Gain (- Loss) Prendurn Discount

143-00 Prime Medical Svcs . Inc. 1,093.91 11/01/2002 1,149.78 03/21/2002 (5587) 0.00 130.00 Prime Medical Svcs . Inc. 994.47 11/01/2002 1,034.61 03/2212002 (40 .14) 0.00 800.00 Espeed Inc CI A 11,672 .36 11/0412002 8,43952 02113/2002 3,23284 000 40400 Espeed Inc Cl A 5,894.54 11/04/2002 4,632.87 03/14/2002 1,26167 000 492.00 Prime Medical Svcs . Inc. 3,496.14 11/0412002 3,703.53 03/20f2002 (207 .39) 000 847 .00 Prime Medical Svcs. Inc. 6,01876 11/04/2002 6,74085 03/22/2002 (722 .09) 0.00 205.00 Prime Medical Svcs. Inc. 1,45673 11/04/2002 1,604.99 03/25/2002 (148 .26) 000 513.00 Espeed Inc CI A 7,320.13 11/0512002 5,411.84 02/13/2002 1,908.29 000 270.00 Nu Skin Enterprises Inc CI-A 2,90254 11/05/2002 3,364.69 08/27/2002 (46215) 0.00 148 .00 Nu Skin Enterprises Inc CI-A 1,59102 11/05/2002 1,867.18 08130(2002 (276 .16) 0.00 872.00 Wild Oats Markets Inc 9,251.29 11/05/2002 11,422.50 05/06/2002 (2,171 .21) 000 368-00 Wild Oats Markets Inc 3,90421 11/05/2002 5,360.84 06107/2002 (1,45663) 0.00 430.00 Wild Oats Markets Inc 4,56199 11/05/2002 6,409.45 06119/2002 (1,847 .46) 0.00 76.00 Wild Oats Markets Inc 806 .31 11/05/2002 1,146.31 OV2012002 (340 .00) 000 791-00 Wild Oats Markets Inc 8,391-94 11/05/2002 11,674.76 07/01/2002 (3,28282) 0.00 634-00 PSS World Medical Inc 4,045-93 11/05/2002 5,121.26 12127/2001 (1,075 .33) 000 301-00 PSS World Medical Inc 1,920.86 11/05/2002 2,435.09 09/11/2002 (51423) 000 662-00 Cray, Inc 3,952.01 11/0612002 2,825.08 0611012002 1,126.93 000 833 .00 Espeed Inc Cl A 11,586.17 11/0612002 8,787.65 02/13/2002 2,79852 0.00 1,322.00 Impac Mortgage Holdings Inc 13,936 .62 11/06r2002 14,923 .53 06/05/2002 (986 .91) 0.00 151-00 Interimme Inc 5,071.65 11/0612002 3,566.36 07/3112002 1,505.29 0.00 10.00 Intermune Inc 335 .87 11/0612002 304.10 09/10/2002 3177 0.00 240-00 Intermune Inc 8,060.90 11/06/2002 6,994.39 09/24/2002 1,066.51 0.00 297 .00 Nu Skin Enterprises Inc CI-A 3,217.42 11/06/2002 3,701.15 08/2712002 (483 .73) 0.00 765.00 PSS World Medical Inc 4,898.07 11/06t2002 6,179.44 12127/2001 (1,281 .37) 000 441-00 Rudolph Techniogies 8,063.48 11/06/2002 8,41688 11/0412002 (353 .40) 0.00 882 .00 United Online Inc 11,478 .62 11/0612002 5,916.73 0212612002 5,561.89 0.00 1,589-00 Espeed Inc CI A 21,53633 11/07/2002 16,763 .00 02113/2002 4,77333 0.00 804-00 I-pac Mortgage Holdings Inc 8,511 .04 11/07/2002 9,076.03 06t05/2002 (564 .99) 0.00 346-00 Nu Skin Enterprises Inc CI-A 3,548.85 11/07/2002 4,311.78 08127/2002 (762 .93) 0.00 94.00 Nu Skin Enterprises Inc CI-A 964-14 11/07/2002 1,162.04 08/28/2002 (197 .90) 0.00 1,138.00 PSS World Medical Inc 7,24883 11/0712002 9,192.42 12/27/2001 (1,943 .59) 0.00 877.00 Cray'Inc: 5,299-98 11/08/2002 3,742.59 0611012002 1,55739 0.00 15800 Cray, Inc 954.84 11 108f2002 675 .55 06111/2002 27929 000 225.00 Coinstar hic. 6,981 .74 11/08/2002 6,063.14 06tl 112002 918.60 000 66.00 Coinstar Inc. 2,047.98 11108/2002 1,745.13 07/16/2002 302.85 0.00 331 .00 Espeed Inc CI A 4,468.16 11/08/2002 3,491.85 02/13/2002 976.31 0.00 15 .00 Hyperion Solutions Corp. 39995 11/0812002 295 .28 10/10/2002 104.67 0.00 536.00 Hyperion Solutions Corp. 14,291 .47 11/08/2002 14,953,70 11/04/2002 (662 .23) 0.00 162-00 Impac Mortgage Holdings Inc 1,713.59 11/08/2002 1,80445 06/04/2002 (9086) 0.00 58.00 ImPac: Mortgage Holdings Inc 613.51 11/08/2002 654.74 06105/2002 (41 .23) 0.00 165-00 Nu Skin Enterprises inc ci-A 1,66397 11/0812002 1,915.39 08/09/2002 (251 .42) 0.00 Driehaus Capital Management Friday January 23, 2004 16:57.39 Page 2 Gains and Loss Reportfrorn 1110112002 to 1013112003 Account. 06057508 -- RHD - FOUNDATION- RECOVERY

Sale Purchase Realized Unamortized Bond Ouanti Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount 403.00 Nu Sldn Enterprises Inc CIA 4,064.13 11/08/2002 4,890.69 08/23/2002 (826.56) 0.00 745.00 Nu Sldn Enterprises Inc CI-A 7,513.09 11/08/2002 9,021.80 08/2612002 (1,508.71) 0.00 363.00 Nu Skin Enterprises Inc CI-A 3,660.74 11/08/2002 4,487.44 08/28/2002 (826.70) 000 109.00 Pediatrix Medical 4,110.09 11/08/2002 2,804.01 0612112002 1,30608 0.00 197.00 Pediatrix Medical 7,428.33 11/08/2002 7,91824 10/31/2002 (489.91) 000 1,099.00 Prime Medical Svcs. Inc. 7,104.92 11/08/2002 8,272.72 03/20/2002 (1,167.80) 0.00 291 .00 Rudolph Techniogies 4,739.95 11/08/2002 4,271.15 10/17/2002 46880 0.00 810.00 Rudolph Technlogies 13,193 .69 11/08/2002 15,459 .58 11/0412002 (2,265.89) 0.00 527.00 Scansoft Inc 3,38645 11/09/2002 3,422.07 04101/2002 (35.62) 0.00 1,135.00 Scansoft Inc 7,293.40 11/08/2002 7,37648 04/03/2002 (83.08) 000 275.00 Connetics Corp 3,101 .90 11/11/2002 2,832.94 11/15/2001 268.96 000 166.00 Connetics Corp. 1,872.42 11/11/2002 1,816.19 04102/2002 56.23 0.00 173.00 Documentum Inc. 2,504.34 11/1112002 2,436.32 07f22/2002 68.02 000 208.00 Documenturn Inc, 3,011 .00 11/11/2002 3,006.41 08/0612002 459 000 495.00 Documentum, Inc. 7,165 60 11/11/2002 7,134.04 08/08f2002 3156 0.00 447.00 Documentum Inc. 6,470.75 11/11/2002 8,119.93 11/04/2002 (1,64918) 0.00 879.00 Dianon Systems Inc. 40,956.47 11/1112002 40,12450 09127/2002 831.97 0.00 169.00 Dianon Systems Inc. 7,874,45 11/11/2002 7,114.90 lQfO4/2002 759.55 0.00 253.00 Dianon Systems Inc. 11,788 .38 11/11/2002 10,347.70 10/09/2002 1,440.68 0.00 196.00 Nu Sldn Enterprises Inc CI-A 1,937.65 11/11/2002 2,275.25 08/09/2002 (337.60) 000 1,178.00 Prime Medical Svcs. Inc. 7,069.78 11/11/2002 8,867.39 03/20/2002 (1,797.61) 000 1,654.00 Scansoft Inc 9,549.90 11/11/2002 10,74025 04/01/2002 (1,190.35) 0.00 331.00 United Online Inc 4,509.73 11/11/2002 2,220.45 02/26/2002 2,28928 0.00 221 .00 Connetics Corp. 2,497.22 11/12/2002 2,276.65 11/15/2001 22057 0.00 712.00 Cray, Inc 4,372.33 11/12/2002 3,044.26 0611 lf2OO2 1,328.07 000 211.00 Cray, Inc 1,295.73 11/12/2002 897.47 06/12/2002 398.26 000 180.00 Cray,lnc 1,105.36 11/1212002 76945 06113/2002 33591 0.00 220.00 United Online Inc 2,999.69 11/12/2002 1,47583 02/26/2002 1,523.86 0.00 507.00 Central Garden & Pet Co. 9,683.40 11/1&-2002 9,012.58 07/09/2002 67082 0.00 28.00 Mercury Computer System 767.17 11/18/2002 648.65 08107/2002 118.52 000 240.00 Mercury Computer System 6,575.73 11/18/2002 5,74925 09/25/2002 826.48 000 160.00 Mercury Computer System 4,383.82 11/18/2002 3,780.94 09/2612002 602.88 0.00 193.00 Mercury Computer System 5,287.98 11/18/2002 6,487.70 11/04/2002 (1,199.72) 000 24.00 Osteotech Inc. 115.35 11/18/2002 252.07 08/13/2002 (13672) 0.00 181.00 Osteotech Inc. 869.91 11/1812002 1,917.88 08/20/2002 (1,047.97) 0.00 117.00 Osteotech Inc. 562.32 11/18/2002 1,29855 08/21/2002 (736.23) 0.00 (1,212.40) 0.00 .290 . .00 Pinnacle Entertainment Inc 1,671.33 11/18/2002 2,883.73 04/15/2002 19.00 Blue Rhino Corp. 303.89 11/18/2002 246.88 06tO5/2002 57.01 0.00 151 .00 Blue Rhino Corp. 2,415.11 11/18/2002 1,988.91 0610612002 426.20 0.00 425.00 Blue Rhino Corp. 6,797.50 11/18/2002 5,563.25 06107/2002 1,234.25 0.00 1,643.00 XOMA Corp. 8,036.53 11/1&-2002 10,909 .52 N-2212002 (2,872.99) 0.00 5-00 XONIA Corp. 2,74-8 .95 1 1 /1 8r2W22 3,591.18 09J25r2W2 (842.23) 0.00

0 0 0 0 0 0 0 0 0 0 0 0 0 0

Driehaus Capital Management Friday January 23, 2004 16:57:39 Page 3 Gains and Loss Reportfrom 1110112002 to 1013112003 Acrount. 06057508 -- RHD - FOUNDATION- RECOVERY

Sale Purchase Realized Unamortized Bond Ouantity Security Descrintion Proceeds Date cost Date Gain (- Loss Premium Discount)

511.00 Biosite Diagnostic Inc 13,871 .08 11/19/2002 13,358 .26 06/20/2002 51282 000 143 .00 Biosite Diagnostic Inc 3,881.73 11/19/2002 3,185.80 07/25/2002 69593 000 222.00 Biosite Diagnostic Inc 6,026.19 11/19/2002 5,550.24 09110/2002 47595 000 260.00 Mercury Computer System 7,136.99 11/19/2002 6,023.13 08/07/2002 1,113-86 0.00 11000 Ostootech Inc. 520.28 11/19/2002 1,155.34 08/13/2002 (635 .06) 000 496.00 Pinnacle Entertainment Inc 2,781.58 11/19/2002 4,932.18 04/15/2002 (2,150.60) 000 128 .00 Osteotech Inc. 583 .66 11/20/2002 1,344.40 08/13/2002 (760.74) 000 278.00 Osteotech Inc. 1,267.64 11/2012002 2,899.93 08/1912002 (1,632 .29) 000 758.00 Pinnncle Entertainment Inc 4,224.73 11/20/2002 7,537.48 04/15/2002 (3,312 .75) 0.00 194 .00 XOMA Corp. 882.13 11/20/2002 1,137.50 08/19/2002 (255 .37) 0.00 2,050.00 XOMA Corp. 9,321 .49 11/20/2002 12,190.73 08/2012002 (2,869 .24) 000 169 .00 XOMA Corp. 768.45 11/20/2002 981 .64 09/1012002 (213 .19) 000 752.00 XOMA Corp 3,419.40 11/20/2002 4,376.19 09124/2002 (956.79) 0.00 238.00 XOMA Corp. 1,082.20 11/20/2002 1,520.82 09/25/2002 (438 .62) 000 1,007.00 XOMA Corp. 4,57890 11/20/2002 6,063.15 09/2712002 (1,484.25) 0.00 643.00 Cray,Inc: 4,365.83 11/21/2002 2,734.94 06112/2002 1,630-89 000 17 .00 Cray,lnc 115 .43 11/21/2002 70.96 09/16/2002 44.47 000 368.00 Cytyc Corporation 3,443.23 11121/2002 4,090.39 09/27/2002 (647 .16) 0.00 1,484.00 Cytyc Corporation 13,88521 1112112002 15,50839 l0tl4/2002 (1,623 .18) 0.00 1,043.00 Matria Healthcare Inc. 7,166 12 11/21/2002 11,731 .35 10116/2002 (4,565 .23) 0.00 169 .00 Matria. Healthcare Inc. 1,161 .15 11121/2002 1,994.20 10117/2002 (833 .05) 0.00 620.00 Pinnacle Entertainment Inc 3,474.62 11/21/2002 6,165.22 04/15/2002 (2,69060) 0.00 87.00 UICI 1,211 .52 11/2112002 1,540.90 09/0412002 (329.38) 0.00 555.00 UICI 7,728.64 11/21/2002 10,037 .45 09/05/2002 (2,308 .81) 0.00 459.00 UICI 6,391 .79 11/21/2002 8,379.14 09/06t2002 (1,987 .35) 0.00 441 .00 United Online Inc 6,87644 11/21/2002 2,958.36 0212612002 3,91808 0.00 1,876.00 Cytyc Corporation 17,952 .59 11122/2002 19.533 .10 09/24/2002 (1,58051) 000 116 .00 Cytyc Corporation 1,110.07 11/22/2002 1,212.25 10/14/2002 (10218) 000 964.00 Pinnacle Entertainment Inc 5,200.52 11/22/2002 9,585.93 04/15/2002 (4,385 .41) 0.00 330.00 UICI 4,558.51 11/22/2002 5,78490 09/03/2002 (1,226.39) 000 837.00 UICI 11,562 .05 11/22/2002 14,824 .53 09104/2002 (3,262.48) 000 221 .00 UICI 3,052.82 11/22/2002 3,589.59 11/18t2002 (53677) 000 1,722.00 Cytyc Corporation 16,46439 11125/2002 17,92964 09/24/2002 (1,465 .25) 0.00 394.00 Pinnacle Entertainment Inc 2,078.52 11/25/2002 3,917.90 04/15/2002 (1,839.38) 0.00 292.00 Pinnacle Entertainment Inc 1,54042 11/25/2002 2,89065 06t25/2002 (1,350.23) 0.00 53900 Pinnacle Entertainment Inc 2,75690 ll/26t2002 5,335.83 06t25/2002 (2,57893) 0.00 831 .00 Pinnacle Entertainment Inc 4,25043 11/2612002 8,184.27 06/26t2002 (3,93384) 0.00 65.00 Celadon Group Inc. 548.45 11127/2002 81507 06119/2002 (26662) 0.00 420.00 Celadon Group Inc. 3,543.81 11127/2002 5,760.34 OWW2002 (2,216 .53) 000 197 .00 Celadon Group Inc. 1,662.21 11127/2002 2,67093 06121/2002 (1,008 .72) 000 191.00 Net Bank Inc 1,873.71 12/02/2002 2,532.03 01/17/2002 (658 .32) 0.00 252.00 Net Bank Inc 2,47212 12/02/2002 3,322.95 01/22/2002 (850.83) 0.00 Driehaus CapiAd Management Friday January 23, 2004 16:57:39 Page 4 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057508 -- RHD -FOUNDATION - RECOVERY

Sale Purchase Realized Unarnortized Bond Ouantity Security Descrintion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

1,090.00 Wild Oats Markets Inc 11,792.79 1210212002 14,278 .13 05/06t2OO2 (2,485 .34) 0.00 328 .00 PSS World Medical Inc 2,02461 12/02t2OO2 2,649.49 12127/2001 (62488) 0.00 1,226.00 PSS World Medical Inc 7,567.61 12/0=002 9,880.95 12/28/2001 (2,313 .34) 0.00 176 .00 PSS World Medical Inc 1,086.38 12/0212002 1,370.04 09/06/2002 (283 .66) 000 219.00 PSS World Medical Inc 1,351.80 12/02/2002 1,739.54 09/09/2002 (38774) 000 999.00 PSS World Medical Inc 6,166.43 12/0212002 8,036.56 09/10/2002 (1,87013) 0.00 549.00 Blue Rhino Corp. 10,857 .19 12/02/2002 7,133.43 06105/2002 3,723.76 000 1,488.00 Mcdata Corporation-a 11,61454 12103/2002 14,839 .08 07/19/2002 (3,224 .54) 0.00 1,350.00 Mcdata Corporation-a 10,537 .39 12/03/2002 9,306.63 1012212002 1,23076 0.00 2,530.00 Mcdata Corporation-a 19,747 .85 12/03/2002 17,149 .10 lOr24/2002 2,598.75 000 1,141.00 Mcdata Corporation-a 8,906.04 12/03/2002 10,153.99 11/21/2002 (1,247 .95) 000 296.00 Net Bank Inc 2,70240 12/03/2002 3,903.14 01122/2002 (1,20074) 000 805 .00 Net Bank Inc 7,349.42 12/03/2002 9,704.92 06111/2002 (2,355 .50) 000 265 .00 PSS World Medical Inc 1,611 .15 12/03/2002 1,817.24 08/01/2002 (20609) 0.00 1,456.00 PSS World Medical Inc 8,852.21 12/03/2002 10,668.69 09/03/2002 (1,81648) 000 463 .00 PSS World Medical Inc 2,814.95 12/03/2002 3,604.13 09/06/2002 (789 .18) 000 1,101.00 Infospace.com 11,233 .15 12/04/2002 11,745 .47 11/25/2002 (512 .32) 0.00 25 .00 Net Bank Inc 22724 12104/2002 301 .40 06111/2002 (74 .16) 0.00 855 .00 Net Bank Inc 7,771 .71 12/04/2002 9,488.79 07/10/2002 (1,717 .08) 0.00 703 .00 Net Bank Inc 6,39007 12/04/2002 7,617.64 07/11/2002 (1,227 .57) 000 494.00 Net Bank Inc 4,490.32 12104/2002 5,155.43 08/19/2002 (665 .11) 0.00 6,602.00 Openwave Systems Inc 14,998 .34 12/0412002 19,954.38 11/27/2002 (4,956 .04) 0.00 1,385.00 PSS World Medical Inc 8,247.00 12/04/2002 9,497.64 08/01/2002 (1,25064) 0.00 1,121 .00 Sma Corp 5,571 .19 12/0412002 4,794.20 11/1812002 77699 0.00 548.00 Espeed Inc Cl A 7,616.96 12/05/2002 8,608.92 11/25/2002 (991 .96) 0.00 549.00 Childrens Place Retail 6,066.26 12/05/2002 7,224.84 11/18/2002 (1,15858) 000 2,206.00 Childrens Place Retail 22,698 .83 12/0612002 28,792.71 11/15/2002 (6,09388) 000 443 .00 Childrems Place Retail 4,558.29 12/06/2002 5,829.88 11/18/2002 (1,271 .59) 000 992.00 Childrens Place Retail 10,207 .27 12/06/2002 12,459 .52 11/19/2002 (2,252.25) 0.00 221 .00 Childrens; Place Retail 2,274.00 12/06/2002 2,884.05 11/20/2002 (61005) 0.00 283 .00 Checkfree Corp. 4,681 .58 12/0912002 4,472.25 10117/2002 209.33 0.00 542.00 Checkfree Corp. 8,966.14 12/09/2002 8,28371 10/30/2002 682 .43 0.00 175.00 Checkfree Corp. 2,89497 12109/2002 2,778.16 10/31/2002 116.81 0.00 536.00 Checkfree Corp. 8,86689 12/09/2002 9,066.49 11/04/2002 (199.60) 000 271 .00 Cray, Inc 1,612.43 12/09/2002 1,093.56 06/07/2002 518 .87 000 2.00 Cray, Inc 11.90 12tO9/2002 8.10 09/11/2002 380 0.00 116 .00 Cray, Inc 69019 12/09/2002 482.16 09/13/2002 20803 0.00 516.00 Cray, Inc 3,070.16 12/09/2002 2,153.84 09/1612002 916 .32 0.00 851 .00 Cray, Inc 5,06338 12/09/2002 3,54002 09/17/2002 1,523.36 0.00 363 .00 Entrust Technologies Inc 1,062.40 12109/2002 1,453.13 09/0412002 (390.73) 000 1,280.00 Entrust Technologies Inc 3,746.19 12109/2002 5,356.23 09/18/2002 (1,610.04) 0.00 173 .00 Hyperion Solutions Con) . 4t621.68 12109/2002 3,405.51 101!0n-00.7 1,21617 0.00

0 0 0 0 0 10 0 0 0 0 0 0 0 0

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441-00 Hyperion Solutions Corp . 11,781 .26 12/09/2002 13,119.75 11/21/2002 (1,338 .49) 000 1,097.00 Cray,lnc 6,696.87 12tlO/2002 4,42669 06107/2002 2,27018 000 440-00 Entrust Technologies Inc 1,294.81 12tlO/2002 1,73363 09/03/2002 (438 .82) 0.00 107 .00 Entrust Technologies Inc 314.87 12/10/2002 428 .33 09/04/2002 (11346) 0.00 374 .00 Sma Corp 1,71563 12/11/2002 1,59949 11/18/2002 11614 000 155-00 Sina Corp 711 .02 12/11/2002 65565 11/19/2002 5537 0.00 1,195-00 Sina Corp 5,409.40 12/12/2002 4,786.66 11/15/2002 62274 0.00 121 .00 Sina Corp 547 .73 12/1212002 511 .83 11/19/2002 35 .90 0.00 839-00 Checkfiree Corp. 12,244 .16 12113/2002 12,618 .39 10115/2002 (374.23) 0.00 696.00 Checkfree Corp. 10,157 .25 12/13/2002 10,637 .39 10130/2002 (480.14) 0.00 873 .00 Intermune Inc 24,095 .12 12/16/2002 20,61878 07/3 1 t2002 3,476.34 0.00 165.00 Intermune Inc 4,554.06 12/16t2002 3,380.82 08/0612002 1,173.24 0.00 641 .00 Inteimune Inc 17,691 .83 12116/2002 14,781 .46 08/22/2002 - 2,910.37 000 255-00 CSK Auto Corp 2,630.22 12/17/2002 3,23060 04/23t2OO2 (600.38) 000 1,099-00 CSK Auto Corp 11,335 .73 12/17/2002 14,659 .12 04/2412002 (3,323 .39) 0.00 329 .00 Sonic Solutions 1,904.85 12/17/2002 3,121 .72 06110/2002 (1,216.87) 0.00 100.00 Scansoft Inc 522.11 12/17/2002 649.35 04/01/2002 (127 .24) 0.00 315 .00 Scansoft Inc 1,644-64 12/17/2002 2,00003 04/29/2002 (355 .39) 000 2,131 .00 Scansoft Inc 11,126 .15 12117/2002 10,254 .12 1 Ot 1512002 87203 0.00 1.071 .00 CrayInc 7,732.38 12/18/2002 4,302.84 06106t2002 3,42954 0.00 65.00 Cray,lnc 46929 12/1812002 262.29 06tO7/2002 20700 0.00 180 .00 Cray, hic 1,299.56 12/18/2002 727 .22 09/09/2002 572.34 000 276-00 Hollywood Entertainment Corp. 4,402.86 1211812002 5,228.79 lOtIO/2002 (825 .93) 0.00 843-00 Hollywood Entertainment Corp. 13,447 .88 12/18/2002 16,665 .94 10/14/2002 (3,218 .06) 0.00 86-00 Harvest Natural Resources 465 .93 12/18/2002 617 .37 11/08/2002 (151 .44) 0.00 834-00 Harvest Natural Resources 4,518.47 1211W2002 6,040.58 11/19/2002 (1,52211) 0.00 I 176.00 Harvest Natural Resources 953 .54 12/18/2002 1,359.71 11/20/2002 (406 .17) 000 1,422.00 Infospace .com 13,000.23 12/18/2002 12,871 .94 11/04/2002 128.29 000 771 .00 Infospace .com 7,048.65 12/18t2002 7,407.07 11/21/2002 (358 .42) 000 4.00 Infospace .com 36 .57 12/18/2002 42 .67 11/25/2002 (6.10) 0.00 11,759 .00 Openwavc Systems Inc 19,19069 12/18/2002 33,181 .24 1 1/26t2002 (13,990 .55) 0.00 332-00 Openwave Systems Inc 541.82 12tl8/2002 1,003.46 1 Ir.7/2002 (461 .64) 0.00 1,617.00 Sonic Solutions 8,491.06 12/18/2002 14,872 .20 06tO7/2002 (6,381 14) 0.00 597-00 Sonic Solutions 3,134.92 12118/2002 5,66463 06tlO/2002 (2,529.71) 0.00 701 .00 Zoran Corp. 10,65228 12/18/2002 15,048 02 11/27/2002 (4,395.74) 0.00 616-00 Zoran Corp. 9,360.64 12/18/2002 14,507 .54 1210212002 (5,146.90) 0.00 1,411 .00 Hollywood Entertainment Corp. 21,541 .08 12/19/2002 26,731 .25 l0tl0t2002 (5,190.17) 000 1,102.00 Hollywood Entertainment Corp 16,823.72 12/19/2002 18,635 .92 11/12/2002 (1,812.20) 0.00 1,099.00 Infospace.corn 9,855.42 12/19/2002 9,948.15 11/04/2002 (92.73) 000 250-00 Sonic Solutions 1,30476 12/19/2002 2,299.35 06107/2002 (994.59) 0.00 820.00 Sonic Solutions 4,279.61 12/19t2OO2 7,521.94 06tl 1/2002 (3,242.33) 000 175 .00 Pediatrix Medical 6,727.60 12/2012002 4.501.86 06t2l/2002 2,225.74 0.00 Driehaus Capital Management Friday January 23, 2004 16:57:39 Page 6 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06057508 -- RHD - FOUNDATION - RECOVERY

Sale Purchase Realized Unarnortized Bond Ounntity Security Description Proceeds Date cost Date Gain (- Loss) Pren-durn Discount) 216.00 Chattern Inc. 4,39078 12/2312002 3,638.44 OW1212002 75234 0.00 442.00 Chattern Inc. 8,984.83 12t23/2002 9,065.86 11/05/2002 (81 .03) 000 439.00 Netease.com Inc. ADR 5,619.37 12/23/2002 4,325.82 11/18/2002 1,29355 0.00 563.00 Sina Corp 3,795.68 12/2312002 2,255.14 11/15/2002 1,540-54 0.00 1,006.00 Scansoft Inc 5,712.80 1212312002 4,040.29 10/11/2002 1,672.51 0.00 339.00 Scansoft Inc 1,925.09 12/23/2002 1,398.38 10/14/2002 526.71 000 316.00 Scansoft Inc 1,79448 12/2312002 1,520.56 10/1512002 273.92 000 2,427.00 Zoran Corp. 35,470.98 12/23/2002 52,099.20 11/2712002 (16,628.22) 0.00 857.00 Scansoft hic 4,834.19 12/24/2002 3,"1.87 1 Ot 1 1/2002 1,392.32 000 801.00 Netease.corn Inc. ADR 9,249.90 12/27/2002 7,892.89 11/18/2002 1,357.01 0.00 1,307.00 Sina Corp 8,775.71 12/27/2002 4,584.03 11/06t2002 4,191 .68 0.00 448.00 Sma Corp 3,008.05 12/27/2002 1,794.50 11/15/2002 1,213.55 0.00 1,163.00 Sohu.com. Inc. 7,14793 12/27/2002 7,388.09 11/18/2002 (240.16) 0.00 1,096-00 Rudolph TechnIogies; 20,410.19 12/30/2002 21,807 .11 11/21/2002 (1,396.92) 0.00 1,096.00 Sina Corp 6,763.75 12/30/2002 3,943.99 11/06t2002 2,919.76 0.00 691 .00 Sonic Solutions 3,422.62 01/02t2OO3 6,338.61 06/1112002 (2,915-99) 000 702.00 Sonic Solutions 3,477.11 01/02/2003 6,245.76 06/19/2002 (2,768.65) 0.00 449.00 Coinstar Inc. 9,44968 01/03/2003 10,279.86 12/30/2002 (830.18) 000 362.00 Sonic Solutions 1,763.67 01/03/2003 3,07628 0610612002 (1,312.61) 0.00 544.00 Sonic Solutions 2,650.37 01/03/2003 4,840.02 06/19/2002 (2,189.65) 000 312.00 Sonic Solutions 1,520.07 01/03/2003 2,763.66 06t2O/2002 (1,24359) 0.00 649.00 Sonic Solutions 3,161.93 01/03/2003 5,459.97 08/08t2002 (2,29804) 000 I 176.00 Sonic Solutions 857.47 01/03/2003 1,481 .18 08/13/2002 (623.71) 000 256.00 Sonic Solutions 1,247.23 01/03/2003 1,789.13 1 Otl 1/2002 (541.90) 000 416.00 Sonic Solutions 2,026.75 01/03/2003 2,985.38 10/14/2002 (958.63) 0.00 844.00 Sonic Solutions 4,111.97 01/0312003 6,527.58 10/15/2002 (2,41561) 000 45.00 Aviall Inc. 353.49 01/071200-3 563.83 0&74/2002 (210.34) 0.00 437.00 Aviall Inc. 3,432.79 01/0712003 5,688.78 06t2512002 (2,255.99) 000 153.00 CSK Auto Corp 1,594.79 01/07/2003 1,938.36 04123/2002 (343.57) 0.00 508.00 Chattern Inc. 9,386.08 01/07/2003 8,557.08 06/12/2002 82900 0.00 26.00 PXRE Group Ltd 640.39 01/07/2003 630.50 09/09/2002 989 0.00 80.00 PXRE Group Ltd 1,970.42 01/07/2003 1,93264 09/10/2002 37.78 0.00 113.00 PXRE Group Ltd 2,783.22 01/07/2003 2,728.54 09/11/2002 54.68 0.00 443.00 Rudolph Tochnlogies 8,129.91 01/07/2003 6,249.98 1 Ot 15/2002 1,879.93 000 23.00 Rudolph Tecbnlogies 422.09 01/07/2003 33758 1 Ot 17/2002 84.51 000 843.00 Rudolph Techniogies 15,470 .69 01/07/2003 12,237 .83 10/22/2002 3,232.86 000 5.00 Rudolph Techniogies 91.76 01/0712003 99.49 11/21/2002 (7.73) 0.00 572.00 Select Comfort Corp. 6,099.45 01/07/2003 4,799.94 11/19/2002 1,299.51 0.00 175.00 Aviall Inc. 1,319.61 01/08/2003 2,192.66 06a4/2002 (873.05) 000 510.00 CSK Auto Corp 5,20480 01/08/2003 6,27009 04/17/2002 (1,065.29) 0.00 85.00 CSK Auto Corp 867.47 01/08/2003 1,036.43 04/18/2002 (168.96) 0.00 379.00 CSK Auto Corp 3,867,R8 01/OR/2003 4,80155 004/23/20022 (93367) 0.00

40 0 0 0 0 0 0 0 0 0 0 0

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount) 1,918.00 Chattem, Inc. 32,966 .93 01/08/2003 32,308 .04 W1212002 658.89 0.00 94.00 PXRE Group Ltd 2,304.41 01/0&'2003 2,11437 03/19/2002 19004 000 5.00 PXRE Group Ltd 122 .58 01/08/2003 120 .00 09/06(2002 258 000 32.00 PXRE Group Ltd 784.48 01/08/2003 77268 09/11/2002 11 .80 0.00 700.00 Rudolph Technlogies 12,470 .89 01/08/2003 9,875.81 lGtl5/2002 2,595.08 0.00 174 .00 Rudolph Technlogies 3,099.91 01108/2003 2,379.12 10/1612002 720.79 000 544.00 Chattern Inc. 9,753.62 01/09/2003 9,163.49 06tl2/2002 59013 0.00 256-00 PXRE Group Ltd 6,305.52 01/09/2003 5,726.16 03/15/2002 579.36 0.00 68.00 PXRE Group Ltd 1,674.90 01/09/2003 1,525.48 03/1 W2002 149 .42 0.00 5.00 PXRE Group ]Ad 123 .15 01/09/2003 112 .47 03/1912002 1068 0.00 197 .00 PXRE Group Ltd 4,859.86 01/10/2003 4,406.46 03/15/2002 453.40 0.00 424.00 Pediatrix Medical 15,480 .58 01/15/2003 10,907 .36 06/21/2002 4,573.22 0.00 100-00 PetsMart Inc. 1,603.55 01/15/2003 1,80200 01/02/2003 (198 .45) 000 435.00 Select Comfort Corp . 4,620.38 01/15/2003 3,631 .34 11/1812002 98904 000 112 .00 Select Comfort Corp . 1,189.62 01/1512003 939 .85 11/19/2002 249.77 0.00 403.00 Pediatrix Medical 14,43136 01/1612003 10,367 .13 06121/2002 4,064-23 0.00 454-00 Pediatrix Medical 16,257 .66 01/16t2OO3 11,507 .08 06/24/2002 4,750.58 0.00 138-00 Pediatrix Medical 4,941.75 01/16/2003 3,442.93 0612612002 1,498.82 0.00 138.00 Pediatrix Medical 4,941 .75 01/16/2003 3,457.47 06127/2002 1,484-28 0.00 I 551 .00 Boston Communications Gr 6,253.65 01/17/2003 7,41095 11/11/2002 (1,157 .30) 0.00 323 .00 Boston Communications Gr 3,665.94 01/1712003 4,349.13 11/1212002 (683 .19) 000 1.094-00 ESS Technology 6,640.37 01/17/2003 9,62648 11/27/2002 (2,98611) 0.00 49-00 Boston Communications Gr 543.88 01/21/2003 659 .05 11/11/2002 (115 .17) 0.00 169-00 Boston Communications Gr 1,875 84 01/21/2003 2,239.25 11/1812002 (36341) 0.00 633 .00 Celadon Group Inc. 5,644.03 0112112003 7,937.50 06119/2002 (2,293 .47) 0.00 2,187-00 ESS Technology 12,624.78 01/21/2003 19,244 .15 11/2712002 (6,61937) 000 419 .00 Harvest Natural Resources 2,061 .12 01/21/2003 2,964.30 l0t25/2002 (903 .18) 0.00 136-00 Harvest Natural Resources 669.00 01/21/2003 976 .30 11/0812002 (307 .30) 0.00 754.00 Harvest Natural Resources 3,709.04 01/2112003 5,344.73 11/18/2002 (1,635 .69) 000 i 1,049.00 Blue Rhino Corp. 15,628 .36 01/21/2003 13,221 .60 05/2812002 2,406-76 0.00 20300 Blue Rhino Corp . 3,02436 01121/2003 2,637.68 06tO5/2002 386.68 000 166 .00 Blue Rhino Corp. 2,473.12 01/21/2003 2,135.31 06/17/2002 337-81 0.00 1,960-00 United Online Inc 27,323 .33 01/21/2003 13,14828 02/26/2002 14,17505 0.00 9.00 CSK Auto Corp 85.10 01/2212003 109 .15 04/16/2002 (24 .05) 000 216.00 CSK Auto Corp 2,042.49 01/22/2003 2,633.75 04/1 W2002 (591 .26) 0.00 170-00 Celadon Group Inc. 1,464.35 01/22/2003 2,010.73 05129/2002 (54638) 000 242.00 Celadon Group Inc. 2,084.55 01/22/2003 3,034.56 06/19/2002 (950 .01) 0.00 25-00 Celadon Group Inc. 215 .35 01/22/2003 297 .50 07/1212002 (82 .15) 0.00 994-00 Openwave Systems Inc 1,615.79 01/22f2003 2,80484 11/2612002 (1,189 .05) 000 218 .00 Blue Rhino Corp. 3,269.05 01122/2003 2,747.67 05/28/2002 521 .38 0.00 675.00 CSK Auto Corp 6,539.74 01/23/2003 8,186.60 04/16/2002 (1,64686) 000 68-00 Celadon Group Inc. 571 .02 01/23/2003 804 .29 05/29/2002 (233 .27) 0.00 Dfiehaus Capitd Management Friday January 23, 2004 16:57.39 Page 8 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057508 -- RHD -FOUNDATION - RECOVERY

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discoun

301 .00 Celadon Group Inc. 2,527.60 01/23/2003 3,553.91 07/15/2002 (1,026 .31) 0.00 273 .00 Entrust Technologies Inc 86536 01/23/2003 1,075-64 09/03/2002 (21028) 000 460-00 Entrust Technologies Inc 1,458.11 01/23/2003 1,80394 01110/2003 (345 .83) 0.00 444.00 Entrust Technologies Inc 1,407.39 01/23/2003 1,781.73 01/13/2003 (374 .34) 000 654-00 Inspire Pharmaceuticals Inc 8,078.42 01/23/2003 6,381.41 12/24/2002 1,69701 0.00 968.00 Wild Oats Markets Inc 8,550.27 01/23/2003 12,680 .03 05/0612002 (4,129 .76) 000 8.00 Wild Oats Markets Inc 70.66 01/23/2003 9858 08/0812002 (27 .92) 0.00 743-00 Openwave Systems Inc 1,144.58 01/23/2003 2,096-58 11/26/2002 (952 .00) 000 1,094.00 Sepracor Inc. 13,231 .52 01/23/2003 13,981 .32 01/09/2003 (749 .80) 0.00 1,071-00 Entrust Technologies Inc 3,181.54 01/2412003 4,20005 01/10/2003 (1,01851) 0.00 113 .00 Entrust Technologies Inc 335 .68 01/2412003 431-66 01/14/2003 (9598) 0.00 381 .00 Wild Oats Markets Inc 3,259.35 01/2412003 4,694.80 08/08/2002 (1,435 .45) 0.00 45.00 Wild Oats Markets Inc 384.96 01/2412003 545.59 09/06/2002 (160.63) 0.00 54.00 Wild Oats Markets Inc 461 .96 0112412003 656.99 09/09/2002 (19503) 0.00 282.00 Openwave Systems Inc 387 .16 01/2412003 79574 11/2612002 (408 .58) 0.00 376.00 Entrust Technologies Inc 1,053.97 01/27/2003 1,379.64 08/13/2002 (325 .67) 0.00 99 .00 Entrust Technologies Inc 277.51 01127/2003 378 18 01/14/2003 (100.67) 000 2,572-00 GlobeSpan Virata Inc 11,322.11 01/27/2003 16,589 .91 01/1412003 (5,267 .80) 0.00 2,194.00 Mcdata Corporation-a 16,952.08 01/27/2003 21,187.24 01106/2003 (4,235 .16) 0.00 825-00 Wild Oats Markets Inc 6,863.05 01/27/2003 9,775.34 08/02/2002 (2,912.29) 0.00 341 .00 Wild Oats Markets Inc 2,836.73 01/27/2003 4,134.35 09/0612002 (1,297 .62) 0.00 412.00 Wild Oats Markets Inc 3,427.36 01/2712003 4,443.42 12/30/2002 (1,01606) 0.00 430.00 Sina Corp 3,769.35 01127/2003 1,453.62 11/05/2002 2,315.73 0.00 92.00 Sma Corp 806.47 01/27/2003 322.67 11/06/2002 483 .80 0.00 413.00 Entrust Technologies Inc 1,117.43 01/28/2003 1,515.41 08113/2002 (397 .98) 000 1,585.00 GlobrSpan Virata Inc 6,998.30 0112812003 10,223 .56 01/14/2003 (3,225 .26) 000 1,548.00 Hyperion Solutions Corp . 43,967 .13 01/28/2003 30,452 .72 07/29/2002 13,514 .41 000 487-00 Hyperion Solutions Corp 13,832.04 01/28/2003 9,58660 10/1012002 4,245.44 000 405 .00 Wild Oats Markets Inc 3,688.18 01/2812003 . 4,09658 10102/2002 (40840) 0.00 685.00 Wild Oats Markets Inc 6,238.03 01/2&-2003 7,387.73 12130/2002 (1,149.70) 0.00 149.00 CSK Auto Corp 1,455.97 01/29/2003 1,800.35 04/15/2002 (344.38) 000 1,138.00 CSK Auto Corp 11,120.08 01/29/2003 13,802 .01 04116/2002 (2,681 .93) 0.00 650.00 Documenturn Inc. 9,845.58 01/2912003 9,153.82 07/2212002 69176 000 133.00 Entrust Technologies Inc 364.75 01/2912003 47570 08/09/2002 (110.95) 000 568 .00 Entrust Technologies Inc 1,557.75 01/29/2003 2,08414 Oa/13/2002 (526 .39) 0.00 219.00 GlobeSpan Virata Inc 970.91 0112912003 1,412.59 01/1412003 (441 .68) 0.00 1,967.00 CSK Auto Corp 19,423 .13 01/30(2003 23,76706 04/15/2002 (4,34393) 000 348 .00 Entrust Technologies Inc 938 .41 01/30/2003 1,244.69 08/09/2002 (30628) 0.00 66.00 Entrust Technologies Inc 177 .97 01/30(2003 224.70 08/1212002 (46 .73) 000 1,594.00 ESS Technology 8,359.36 01/30/2003 13,93815 11/27/2002 (5,57879) 0.00 1,537.00 E.SS Technology 8,111.32 01/30(2003 9,971.29 12130/2002 (1,859 .97) 0.00 1,098.00 ESS Technology 5,794.55 01130/2003 7.127.12 1111/20002 (1,332 .57) 0.00

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2,194.00 ESS Technology 11,578 .55 01/30/2003 14,95430 01/02/2003 (3,375 .75) 000 650.00 Harvest Natural Resources 3,65204 01/3012003 4,598.56 10/25/2002 (946 .52) 0.00 1,862.00 Ptek Holdings Inc 7,00627 01/30/2003 10,808 .74 07/1612002 (3,80247) 0.00 233 .00 Ptek Holdings Inc 87672 01/30/2003 1,33108 08/19/2002 (454 .36) 0.00 73 .00 Pick Holdings Inc 274.68 01/30/2003 41736 08/2012002 (142 .68) 000 431 .00 Avid Technology Inc. 8,981.16 01/3112003 7,404.32 11/1412002 1,576.84 0.00 1,224.00 Cray, Inc 8,017.93 01/31/2003 4,873.04 05/31/2002 3,144.89 0.00 1,031.00 Cray,lnc 6,753.67 01/31/2003 4,12441 06t05/2002 2,629.26 0.00 17100 Cray, Inc 1,120.15 01/31/2003 687.01 0610612002 433 .14 000 75 .00 Cray,lnc 491 .29 01/31/2003 30058 09/0612002 190 .71 0.00 31 .00 Cray,lnc: 203 .07 01/31/2003 240 .58 01/02/2003 (3751) 000 32.00 Cray,lnc 209.62 01/31/2003 24479 01/03/2003 (35 .17) 000 42 .00 Cray,Inc 27513 01/31/2003 32767 01/06/2003 (52 .54) 0.00 434.00 Harvest Natural Resources 2,464.00 01/3112003 3,070.42 10/25/2002 (60642) 0.00 1,346.00 Network Engines Inc 1,973.33 01/3112003 2,619.61 01/27/2003 (64628) 0.00 3,482.00 Network Engines Inc 5,104.87 01/31/2003 -6,963 12 01/2812003 (1,858 .25) 000 1,769.00 Network Engines Inc 2,421.35 02/03/2003 3,415.23 01/24/2003 (993 .88) 000 841 .00 Network Engines Inc 1,151.13 02/0312003 1,636.77 01/2712003 (485 .64) 0.00 145.00 Select Comfort Corp. 1,671.30 02/03/2003 1,16644 11/15/2002 50486 0.00 226.00 Select Comfort Corp . 2,604.93 02/03/2003 1,88663 11/18/2002 718.30 0.00 60.00 Select Comfort Corp 691 .57 02/0312003 702 .60 02/03/2003 (11 .03) 0.00 1,087.00 Cray,lnc: 6,445.82 02/04/2003 4,327.61 05/31/2002 2,118.21 0.00 11.00 4kids Entertainment Inc 200.33 02/04/2003 28631 10/1012002 (85 .98) 000 422.00 4kids Entertainment Inc 7,685.57 02104/2003 12,221 .58 10/22/2002 (4,53601) 0.00 1,333.00 Network Engines Inc 1,663.78 02104/2003 2,573.49 01/24/2003 (909 .71) 0.00 1,882.00 XOMA Corp . 6,338.63 02/04/2003 10,871 .21 08/16/2002 (4,53258) 000 231 .00 XOMA Corp . 778.02 02/04/2003 1,341.76 09/10/2002 (563 .74) 000 476.00 AMN Healthcare Services Inc 7,183.29 02/05/2003 10,124 .95 09/0612002 (2,94166) 000 95.00 Avid Technology Inc. 2,079.14 02/05/2003 1,632.04 11/1412002 447.10 000 533-00 Danka Business Sys. - Spon. ADR 2,402.58 02/05/2003 2,126.94 11/21/2002 275.64 0.00 766.00 Danka Business Sys . - Spon. ADR 3,452.86 02/05/2003 4,025.33 01/15/2003 (572 .47) 0.00 2.00 Medical Staffing Network Hol 23.31 02/0512003 33 .98 08/22/20(r- (10.67) 000 200.00 Medical Staffing Network Hol 2,33137 02/05/2003 3,632.90 09/05/2002 (1,301 .53) 000 285.00 Medical Staffing Network Hol 3,322.20 02/05/2003 5,165.85 09/0612002 (1,94365) 0.00 226.00 Medical Staffing Network Hol 2,634.44 02/05/2003 3,794.31 12/26(2002 (1,159 .87) 000 511 .00 Network Engines Inc 626.24 02/05/2003 986 .54 01/24/2003 (360.30) 0.00 475 .00 Blue Rhino Corp . 6.67411 02/05/2003 5,986.90 05/28/2002 68721 0.00 360.00 Viasat Inc 3,913.22 02/05/2003 3,79656 11/ 1 9f2OO2 116 .66 0.00 .220.00 Viasat Inc 2,39141 02/0512003 2,42150 11/21/2002 (3009) 0.00 219.00 Viasat Enc 2,380.54 02/05/2003 2,555.73 12/31/2002 (175 .19) 0.00 1,214.00 XOMA Corp . 4,103.30 02/05/2003 7,012.57 08/16t2002 (2,909 .27) 0.00 37.00 XOMA Corp. 125 .06 02/05/2003 209 .03 09/0912002 (83 .97) 0.00 Dyiehaus Capital Management Friday January 23, 2004 16:57:39 Page 10 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06057508 -- RHD - FOUNDATION - RECOVERY

Sale Purchase Realized Unamortized Bond Ouantity Security Descrivtion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

426.00 AMN Healthcare Services Inc 5,662.86 02/06/2003 9,061 .40 09106/2002 (3,398 .54) 0.00 320.00 AMN Healthcare Services Inc 4,253.79 02106r2003 6,707.55 09/1012002 (2,453 .76) 000 1,162.00 AMN Healthcare Services Inc 15,446.58 02/0612003 20,94551 10/2412002 (5,49893) 000 459 .00 AMN Healthcare Services Inc 6,101.53 02/0612003 7,26175 11/12/2002 (1,160 .22) 000 878 .00 AMN Healthcare Services Inc 11,671 .34 02/0612003 14,856.55 12/30/2002 (3,18521) 0.00 337 .00 Avid Technology Inc. 7,273.66 02/0612003 5,789.46 11/14/2002 1,484.20 0.00 715-00 Danka Business Sys . - Spon. ADR 3,156.59 02/06/2003 2,853.21 11/21/2002 303.38 000 1,667-00 Fu-st Horizon Pharmaceutical 10,316 .01 02106(2003 12,309.07 12/0612002 (1,993 .06) 000 146.00 Fast Horizon Pharmaceutical 903.50 02/06/2003 1,081.36 12109/2002 (177 .86) 0.00 1,135.00 First Horizon Pharmaceutical 7,02380 02/06/2003 8,52521 12/31/2002 (1,501 .41) 0.00 303 .00 First Horizon Pharmaceutical 1,875.08 02/06/2003 2,352.46 01/02/2003 (47738) 0.00 17-00 Medical Staffing Network Hol 176 .75 02/06/2003 263 .60 08/20/2002 (86 .85) 000 82200 Medical Staffing Network Hol 8,546.15 02/06/2003 13,513 .43 08/21/2002 (4,967 .28) 000 88-00 Medical Staffing Network Hol 914.92 02/06(2003 1,377.01 0912712002 (462.09) 000 882.00 Medical Staffing Network Hol 9,169.96 02/06/2003 14,139.78 11/15/2002 (4,969.82) 0.00 219.00 Medical Staffing Network Hol 2,27690 02106/2003 3,542.46 12/2412002 (1,265.56) 0.00 134.00 Medical Staffing Network Hol 1,393.17 0210612003 2,249.73 12/26/2002 (856.56) 0.00 817-00 Network Engines Inc 948.82 02/0612003 1,577.30 01/2412003 (628.48) 0.00 1,087.00 Nu Skin Enterprises Inc Cl-A 11,756.85 0210612003 12,618 .33 08/0912002 (861 .48) 0.00 1,162.00 XOMA Corp. 3,697.15 02/0612003 6,564.60 09/09/2002 (2,867 .45) 000 355 .00 XOMA Corp. 1,129.51 02/06/2003 1,622.04 01/1612003 (492.53) 0.00 556.00 Network Engines Inc 63538 02/07/2003 1,073.41 01/24/2003 (438 .03) 0.00 873 .00 Blue Rhino Corp. 9,356.26 02/07/2003 11,003 .29 05/28/2002 (1,647 .03) 0.00 1,088.00 XOMA Corp. 3,309.94 02/07/2003 4,971 .23 01/16/2003 (1,661 .39) 0.00 441 .00 AMN Healthcare Services Inc 5,429.03 02110/2003 6,541 .62 11107/2002 (1,112.59) 000 552.00 AMN Healthcare Services Inc 6,795.52 02/10/2003 8,33603 11/08/2002 (1,540.51) 0.00 643-00 AMN Healthcare Services Inc 7,915.79 02/1012003 10,172 .77 11/12/2002 (2,256.98) 0.00 804-00 Medical Staffing Network Hol 8,53340 02/10/2003 12,466 .82 08/20/2002 (3,93342) 0.00 240-00 Medical Staffing Network Hol 2,547.28 02/10/2003 3,674.54 09/19/2002 (1,127 .26) 0.00 76.00 Medical Staffing Network Hol 806 .64 0211012003 1,162.25 lOtOl/2002 (355 .61) 0.00 177.00 Medical Stiffing Network Hol 1,878.62 02/1012003 2,678.95 12/23/2002 (800 .33) 000 1,017.00 Blue Rhino Corp. 10,576 .47 02/10/2003 12,818.27 05/28/2002 (2,241 .80) 0.00 277 .00 Blue Rhino Corp. 2,880.71 02/10/2003 3,476.46 05/29/2002 (595 .75) 0.00 14.00 Blue Rhino Corp. 145 .60 02110/2003 170.80 0611312002 (25 .20) 0.00 341 .00 Blue Rhino Corp. 3,546.29 02tlO/2003 4,135.38 06114/2002 (589 .09) 0.00 156 .00 Blue Rhino Corp. 1,622.35 02/10/2003 1,817.40 07/15/2002 (19505) 0.00 432.00 Select Comfort Corp. 4,019.76 02/10/2003 3,475.18 11/15/2002 544.58 0.00 1 .898.00 XOMA Corp. 5,494.75 02110/2003 8,672.23 01/16/2003 (3,17748) 0.00 1,035.00 XOMA Corp. 2,996.35 02/10t2003 4,729.39 01/17/2003 (1,733.04) 0.00 717.00 Espeed Inc Cl A 9,218.26 0211112003 7,563.92 02/13/2002 1,654.34 0.00 570.00 Espeed Inc Cl A 7,328.32 02111/2003 4,929.53 0212W002 2,398.79 0.00 396.00 Espeed Inc Cl A -5,091 .26 Wil 1/20003 3,595.68 02/27 112002 1,495.58 0.no

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:57:39 Driehaus Capital Management Friday January 23, 2004 16 Page I I Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057508 -- RHD - FOUNDATION- RECOVERY

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

1,092.00 Espeed Inc CI A 14,039 .53 0211112003 10,283 .04 03/04/2002 3,756.49 000 332.00 Espeed Inc Cl A 4,268.43 02/1112003 3,212.10 03/05/2002 1,056.33 0.00 792.00 Espeed Inc Cl A 10,182.51 02/1112003 8,197.99 03/07/2002 1,984.52 0.00 113.00 Espeed Inc Cl A 1,45281 02/11/2003 1,775.20 11/25/2002 (322.39) 0.00 441 .00 Medical Smffing Network Hol 4,669.21 02/11/2003 6,547.84 11/14/2002 (1,878 .63) 000 34100 Medical Staffing Network Hol 3,610.43 02/11/2003 5,161 .14 12/23/2002 (1,550.71) 0.00 438 .00 Select Comfort Corp. 4,081.20 02/11/2003 3,523.45 11/15/2002 557 .75 000 23 .00 Viasat Inc 243.49 02/11/2003 23429 11/06/2002 9.20 000 135.00 Viasat Inc 1,429.16 02111/2003 1,423.71 11/19/2002 5.45 0.00 167.00 Viasat Inc 1,767.92 02/11/2003 1,747.50 11/20/2002 20.42 0.00 651 .00 Aviall Inc. 4,522.81 02/12/2003 8,15670 06124/2002 (3,633 .89) 000 424.00 Central Garden & Pet Co. 9,456.09 02112/2003 7,214.23 06/18/2002 2,241.86 0.00 9.00 Central Garden & Pet Co. 200.72 02/12/2003 15999 07/09/2002 40.73 000 175.00 Digene Corporation 2,717.66 02/1212003 2,06376 01/29/2003 653 .90 000 151.00 Digene Corporation 2,344.96 02/12/2003 1,948.32 02/05/2003 39664 000 748.00 First Horizon Pharmaceutical 3,482.80 02/12/2003 5,523.21 12/0612002 (2,040 .41) 0.00 73.00 41ads Enterminment Inc 1,215.76 02/12/2003 1,90007 10110/2002 (684 .31) 0.00 153 .00 4kids Enterminment Inc 2,548.10 02/12/2003 3,875.08 11/21/2002 (1,326 .98) 0.00 700.00 Sina Corp 4,620.56 02/1212003 2,366.36 11/0512002 2,254.20 0.00 90.00 Sma Corp 594 .07 02/12/2003 72720 02103/2003 (133 .13) 0.00 277.00 Viasat Inc 2,717.17 02/12/2003 2,821.72 11/06/2002 (104 .55) 000 47.00 Viasat Inc 461.04 02/12/2003 453.96 11/07/2002 7.08 000 452.00 Aviall Inc. 3,093.30 02113/2003 5,663.33 06a4/2002 (2,570.03) 0.00 124 .00 First Horizon Pharmaceutical 574.99 02113/2003 915.61 12/06f2002 (340.62) 0.00 759.00 Horizon Offshore Inc. 2,718.11 02/13/2003 7,246.25 03/1112002 (4,528 .14) 0.00 208 .00 4kids Enterminment Inc 3,290.27 02/13/2003 5,268.08 11/21/2002 (1,977 .81) 0.00 404.00 Aviall Inc. 2,79906 02/14/2003 5,061 .92 0624/2002 (2,262 .86) 0.00 429.00 Digene Corporation 6,589.24 02114/2003 5,059.15 01/29/2003 1,530.09 0.00 218 .00 First Horizon Pharmaceutical 1,029.29 02/14/2003 1,609.70 1210612002 (580.41) 0.00 57 .00 Horizon Offshore Inc. 197-54 02114/2003 54418 03/11/2002 (346.64) 0.00 1,288.00 Horizon Offshore Inc. 4,46379 02/1412003 10,48213 06112/2002 (6,018 .34) 000 47.00 Horizon Offshore Inc. 162 .89 02/1412003 382 .58 06/13/2002 (219 .69) 0.00 101 .00 Horizon Offshore Inc. 350.03 02/1412003 80502 06114/2002 (454.99) 000 268 .00 Horizon Offshore Inc. 928.80 02/14/2003 1,544.06 10115/2002 (615 .26) 0.00 734.00 Horizon Offshore Inc. 2,54381 02/14/2003 4,355.19 10117/2002 (1,811 .38) 000 80.00 4kids Entertaonment Inc 1,310.51 0211U2003 2,026.18 11/21/2002 (715 .67) 0.00 137.00 4kids Entertainment Inc 2,244.25 02/14/2003 3,41177 1210412002 (1,167 .52) 000 321 .00 Ptek Holdings Inc 1,162.52 02114/2003 1,809.19 08/1612002 (646.67) 000 60.00 Ptek Holdings Inc 217.29 02/14/2003 342 .77 08/19/2002 (12548) 000 1.198.00 Allen Telecom Inc. 16,641 .15 02/1812003 13,49415 01/08/2003 3,147.00 000 1,425.00 Allen Telecom Inc. 19,794 .36 02/18/2003 17,637 .65 01/09/2003 2,156.71 000 480.00 Allen Telecom Inc. 6,667.57 02/18/2003 5,89488 01/30/2003 772 .69 000 Driehaus Capital Management Friday January 23, 2004 16:57.39 Page 12 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057508 -- RHD - FOUNDATION- RECOVERY

Sale Purchase Realized Unamortized Bond Quantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

109.00 Aviall Inc. 74858 02/1 W2003 1,365.72 06/2412002 (617 14) 0.00 867-00 Fust Horizon Pharmaceutical 4,05162 02/1 W2003 6,401 .90 12/0612002 (2,35028) 0.00 173-00 Horizon Offshore Inc. 62003 02/18/2003 989.02 08/2612002 (368 .99) 000 374.00 Horizon Offshore Inc. 1,340.41 02118t2003 2,154.76 10/15/2002 (814.35) 000 323-00 Inspire Pharmaceuticals Inc 4,699.50 02/18/2003 2,646.70 11121/2002 2,052.80 0.00 4.00 Inspire Pharmaceuticals Inc 58.20 02/18/2003 39.03 12/24/2002 19 .17 000 134-00 41ads Entertainment Inc 2,241.59 02/18/2003 3,262.51 10103/2002 (1,020.92) 000 83-00 4k3ds Entertainment Inc 1,388.45 02/1812003 2,06698 12t0412002 (678 .53) 000 324 .00 Ptek Holdings Inc 1,177.37 02118/2003 1,816.83 07/25/2002 (639.46) 0.00 136-00 Ptek Holdings Inc 494.21 02/18/2003 766.51 08/16/2002 (272.30) 0.00 1.652-00 Allen Telecom Inc. 21,591 .81 02/19/2003 18,607 .96 01/08/2003 2,983.85 0.00 260-00 Applied Signal Technology 3,031.50 02/1912003 3,140.80 06/24/2002 (10930) 0.00 206.00 Aviall Inc. 1,414.44 02/19/2003 2,404.64 06/21/2002 (990.20) 0.00 412.00 Aviall Inc. 2,828.87 02/1912003 5,162.15 06124/2002 (2,333 .28) 0.00 146.00 Horizon Offshore hic. 526.60 02/19/2003 834 .67 08126/2002 (30807) 0.00 493.00 Horizon Offshore Inc. 1,778.16 02/19/2003 2,808.82 0&'27/2002 (1,030.66) 000 39.00 Horizon Offshore Inc. 140 .67 02119/2003 210.60 0&'28/2002 (69.93) 0.00 191-00 Horizon Offshore Inc. 688.90 02/19/2003 1,090.82 10/16r2OO2 (401 .92) 0.00 109.00 PXRE Group Ltd 2,449.65 02/19/2003 2,438.09 03/1512002 11.56 000 230.00 Viasat Inc 2,291 .60 02/1912003 2,021.72 10/15/2002 269.88 0.00 203.00 Viasat Inc 2,022.59 02/19/2003 1,960.72 11/07/2002 61 .87 0.00 58.00 Applied Signal Technology 688.44 0212012003 685 .63 06(20/2002 2.81 0.00 109-00 Applied Signal Technology 1,293.79 02/20/2003 1,306.91 06/21/2002 (13.12) 0.00 93-00 Applied Signal Technology 1,10387 02/20/2003 1,123.44 06124/2002 (19.57) 0.00 434.00 Aviall Inc. 2,967.51 02/20/2003 5,066.08 06/21/2002 (2,098.57) 0.00 292-00 Horizon Offshore Inc. 1,038.76 02/2012003 1,576.83 0812&'2002 (538.07) 0.00 142.00 Horizon Offshore Inc. 505.15 02/20/2003 764.93 09/09/2002 (259.78) 0.00 806.00 Officernax Inc 3,51658 02/2012003 4,868.88 1 1122t2OO2 (1,352 .30) 000 1,001.00 Orbital Sciences Corp 5,011 .22 02/20t2003 8,042.33 03/0612002 (3,031 .11) 0.00 943-00 Orbital Sciences Corp 4,720.86 02r20/2003 6,591.00 03/11/2002 (1,870 .14) 0.00 433 .00 Ptek Holdings Inc 1,463.49 02/20/2003 2,428.05 07/25/2002 (96456) 0.00 72-00 PXRE Group Lid 1,58548 0212=003 1,599.78 03/14/2002 (14 .30) 0.00 75.00 PXRE Group W 1,651 .54 02/2Ot2OO3 1.677 .59 03/15/2002 (26 .05) 000 217.00 Viasat Inc 2,192.17 02/20/2003 1,907.45 10115/2002 284.72 000 415-00 Avid Technology Inc. 8,780.43 0212112003 7,087.29 11/05/2002 1,693 14 000 19.00 Avid Technology Inc. 402.00 02/21/2003 32641 11/14/2002 75 .59 0.00 298.00 Aviall Inc. 2,058.01 02/21/2003 3,47855 06r2l/2002 (1,420 .54) 0.00 667-00 Horizon Offshore Inc. 2,379.62 02/21/2003 3,593.00 09/09/2002 (1,213 .38) 000 28-00 Horizon Offshore Inc. 99.89 02/21/2003 14994 09/1012002 (5005) 0.00 327-00 Inspire Pharmaceuticals Inc 4,780.85 02/21/2003 2,679.48 11/21/2002 2,101.37 000 407-00 Officemax Inc 1,79222 0212112003 2,313.71 03/06/2002 (521 .49) 000 956.00 Officemnx Inc 4,209.73 =21/2003 5,775.00 1 11 r2, 2 rA .-, (1,565 .27) 0.00

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Sale Purchase Realized Unamortized Bond Oruantity Security Description Proceeds Date cost Date Gain (- Loss Prernium Discount)

325 .00 Ptek Holdings Inc 1,117.96 02/21/2003 1,822.44 0712512002 (704.48) 0.00 87 .00 PXRE Group Ltd 1,884.52 0212112003 1,933.07 03/1412002 (48-55) 0.00 408.00 Select Comfort Corp. 3,634.10 02/21/2003 3,258.17 11/14/2002 375 .93 0.00 88 .00 Select Comfort Corp. 783 .83 02/2112003 707 .91 11/15/2OD2 75 .92 0.00 1,090.00 United Online Inc 16,09423 02/2112003 7,312.05 0212612002 8,782.18 0.00 545 .00 Ask Jeeves Inc 3,767.90 02/2412003 2,489.36 Olr2412003 1,278.54 0.00 545 .00 Avid Technology Inc. 11,25663 0212412003 9,307.40 11/05/2002 1,949.23 000 1,868.00 Fust Horizon Pharmaceutical 10,43862 02124/2003 13,793 .25 12/0612002 (3,354.63) 0.00 185 .00 Horizon Offshore Inc. 669 .13 02124/2003 990.68 09/1 W002 (321-55) 0.00 217.00 Ptek Holdings Inc 707 .39 02/24/2003 1,216.83 07/25/2002 (509 .44) 000 7.00 PXRE Group Ltd 149 .53 02/24/2003 155 .53 03/1412002 (6.00) 000 38 .00 Select Comfort Corp 33894 0212412003 303 .46 11/14/2002 35 .48 0.00 763.00 Ask Jeeves Inc 4,827.73 02/25/2003 3,485.11 01/24/2003 1,34262 000 183 .00 Cormetics Corp . 2,67526 0212512003 2,624.15 01/15/2003 51 11 0.00 123 .00 Digene Corporation 2,01386 02125/2003 1,36208 01/28/2003 651 .78 000 203.00 Digene Corporation 3,32369 02/25/2003 2,393.96 01/29/2003 929 .73 0.00 416.00 Horizon Offshore Inc. 1,553.56 02125/2003 2,225.31 09/06/2002 (671 .75) 0.00 345.00 Horizon Offshore Inc. 1,288.41 0212512003 1,847.48 09/10/2002 (559.07) 0.00 672.00 4kids Entertainment Inc 10,485 .10 02/25/2003 16,361 .25 10/03/2002 (5,87615) 0.00 591.00 4kids Entertainment Inc 9,22127 02/25/2003 14,380 .33 10/09/2002 (5,15906) 0.00 220.00 4kids Entertainment Inc 3,432.62 02125/2003 5,331.57 12/03/2002 (1,898 .95) 0.00 325.00 Mercury Computer System 9,46696 02125/2003 10,400.94 12/09/2002 (93398) 0.00 1,193.00 Officemax Inc 5,32323 02/2512003 6,781.97 03/06/2002 (1,458.74) 0.00 2,568.00 Ptek Holdings Inc 7,91559 02125/2003 14,09969 07/15/2002 (6,18410) 0.00 351.00 Ptek Holdings Inc 1,081.92 0212512003 1,968.23 07/25/2002 (886.31) 0.00 330-00 Ptek Holdings Inc 1,017.19 02/25/2003 1,638.45 08/14/2002 (62126) 000 799.00 Ptek Holdings Inc 2,462.83 02125/2003 3,827.61 09/13/2002 (1,364.78) 000 439.00 Ptek Holdings Inc 1,353.17 02/25/2003 2,147.68 09/1612002 (79451) 000 360-00 Ptek Holdings Inc 1,109.66 02/25/2003 1,767.20 09/17/2002 (657-54) 000 951 .00 Ptek Holdings Inc 2,931.36 02/25/2003 3,617.80 11/08/2002 (68644) 000 1,103.00 Ptek Holdings Inc 3,399.88 02/25/2003 4,239.38 11/11/2002 (839.50) 0.00 992.00 Ptek Holdings Inc 3,057.74 02/2512003 3,957.26 11/12r-)002 (899.52) 0.00 221-00 Ptek Holdings Inc 681 .21 02125/2003 872.95 11/13/2002 (191 .74) 0.00 110 .00 Ptek Holdings Inc 33906 02r25/2003 45430 11/14/2002 (115 .24) 000 551 .00 Ptek Holdings Inc 1,698.40 02/2512003 2,40666 1111512002 (708 .26) 0.00 229.00 Ptek Holdings Inc 705 .87 02/2512003 94080 11/20/2002 (234-93) 0.00 254.00 Ptek Holdings Inc 782 .93 02125/2003 1,16078 11/21/2002 (37785) 0.00 374.00 Ptek Holdings Inc 1,152.82 02/2512003 1,592.94 12/03/2002 (44012) 0.00 44.00 PXRE Group Ltd 939 .46 02125/2003 977 .64 03/1412002 (38 .18) 0.00 872.00 Ask Jeeves Inc 5,307.96 02/2612003 3,982.98 01/24/2003 1,324.98 0.00 436.00 Central Garden & Pet Co. 9,766.10 0212612003 7,418.41 0611812002 2,347.69 0.00 109 .00 Connetics Corp. 1,592.44 02/2612003 1,563.02 01/15/2003 29.42 0.00 Dyiehaus Capitd Management Friday January 23, 2004 16:57:39 Page 14 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057508 -- RHD -FOUNDATION - RECOVERY

Sale Purchase Realized Unamortized Bond Guantity Security Descrit)tion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

543.00 Horizon Offshore Inc. 1,989.92 02/2612003 2,904.67 09/06/2002 (91475) 000 276.00 Netease.corn Inc. ADR 3,67325 02/26/2003 2,719.65 11/1812002 95360 000 50.00 Netease.com. Inc. ADR 66544 02/26/2003 781.50 02/03/2003 (11606) 0.00 2,927.00 Officemax Inc 13,180 .10 02/2612003 16,639 .41 03/0612002 (3,459 .31) 000 40.00 PXRE Group Ltd 855.21 02/26/2003 888.77 03/1412002 (33.56) 0.00 26 .00 Connetics Corp. 379.33 02/27/2003 370.98 01/14/2003 8.35 000 83 .00 Connetics Corp. 1,21093 02/27/2003 1,19019 01/15/2003 2074 000 505.00 Horizon Offshore Inc. 1,854.70 02/27/2003 2,696.09 08/19/2002 (841 .39) 0.00 72 .00 Horizon Offshore Inc. 264.43 0212712003 385.15 09/06t2OO2 (12072) 000 89 .00 PXRE Group Ltd 1,794.77 02/27/2003 1,975.68 03/12/2002 (18091) 000 20 .00 PXRE Group Ltd 40332 02/27/2003 444.38 03/14/2002 (4106) 000 1,087.00 Sohu com Inc. 9,473.46 02/27/2003 6,905.29 11/18/2002 2,568.17 000 1,758.00 First Horizon Pharmaceutical 3,589.86 02/28/2003 11,866 .85 12/05/2002 (8,27699) 0.00 201 .00 Fast Horizon Pharmaceutical 41044 02/28/2003 1,484.18 1210612002 (1,07374) 0.00 1,098.00 First Horizon Pharmaceutical 2,242.13 02128/2003 7,869.92 12117/2002 (5,627.79) 0.00 1,421 .00 First Horizon Pharmaceutical 2,901.70 02/28/2003 10,225 .66 12/30/2002 (7 .323.96) 000 78 .00 PXRE Group Ltd 1,546.98 02/28/2003 1,731 .49 03/1212002 (184.51) 0.00 26 .00 PXRE Group Ltd 515.66 02128/2003 574.94 03/1312002 (59.28) 000 1,298.00 Sma Corp 8,000.75 03/03/2003 4,387.90 11/0512002 3,612.85 000 1,302.00 Sohu .com Inc. 10,658 .36 03/03/2003 8,271 .10 11/18/2002 2,387.26 0.00 939.00 Cray,lnc 6,130.44 03/04/2003 3,683.41 05/30/2002 2,447.03 000 86.00 Craylnc 561.47 03/04/2003 342.39 05/31/2002 219.08 0.00 70.00 Harvest Natural Resources 332.90 03/04/2003 495.23 10/25/2002 (162.33) 000 726.00 Harvest Natural Resources 3,452.67 0310412003 5,123.75 11/07/2002 (1,671 .08) 0.00 139.00 Marvel Enterprises Inc. 1,629.91 03/0412003 1,541 .43 01/1312003 88 .48 0.00 125.00 Marvel Enterprises Inc. 1,46574 03/04/2003 1,391 .59 01/29/2003 74.15 0.00 565.00 Marvel Enteriirises Inc. 6,625.16 03/04/2003 6,589.71 02/05/2003 3545 0.00 1,049.00 Netease.com Inc. ADR 11,605 .57 03/04/2003 10,336 .64 11/18/2002 1,268.93 0.00 864.00 Nu Sidn Enterprises Inc Cl-A 8,582.36 03/04/2003 10,029 .66 08/09/2002 (1,447 .30) 0.00 472.00 Osteotech Inc. 3,136.06 03/04/2003 4,827.14 08/12/2002 (1,691 .08) 0.00 245.00 Osteotech Inc. 1,627.83 03/04/2003 2,555.69 08/19/2002 (927 .86) 000 1,169.00 Sma Corp 6,913.60 03/04/2003 3,951.82 11/05/2002 2,961 .78 0.00 462.00 Sohu.com Inc. 3,598.36 03/04/2003 2,934.91 11/18/2002 663.45 0.00 1,276.00 Sohu.com Inc. 9,938.33 03/04/2003 7,728.64 11/19/2002 2,209.69 0.00 325.00 Viasat Inc 3,436.90 03/04/2003 2,856.78 10/15/2002 580.12 0.00 866.00 Central Garden & Pet Co. 19,503 .12 03/05/2003 14,734.73 0611812002 4,768.39 0.00 1,114.00 Nu Sidn Enterprises Inc Cl-A 10,442 .54 03/05/2003 12,931 .76 08/09/2002 (2,489 .22) 0.00 698.00 Nu Skin Enterprises Inc Cl-A 6,542.99 03/05/2003 8,07698 08/12/2002 (1,533 .99) 0.00 260.00 Viasat Inc 2,728.79 03/05/2003 2,285.43 1011512002 443.36 0.00 228.00 fl)T Corp 3,335.33 03/06/2003 4,103.54 07/18/2002 (768 .21) 0.00 19 .00 fl)T Corp 277.94 03/0612003 337.09 07/19/2002 (59.15) 0.00 AAA AA Inc. WbLWLC46U 2,581 .44 03/06r2.003 4,131.7 1 0 9112/2 W2 (1,550 .27) 0.00

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Sale Purchase Realized Unamortized Bond Ouand Security Description Proceeds Date Cost Date Gain (- Less) Premium Discount)

123 .00 Avid Technology Inc. 2,14253 03/0712003 1,956.81 11/04/2002 185 .72 0.00 655.00 Avid Technology Inc. 11,409 .42 03/07/2003 11,18596 11/05/2002 22346 000 220.00 Avid Technology Inc. 3,832.17 03/07/2003 3,740.00 11/15/2002 92.17 0.00 290.00 IDT Corp 4,202.41 03/0712003 5,145.06 07/1912002 (942.65) 0.00 454.00 Imclone Systems 7,29573 03/07/2003 6,629.81 03/03/2003 665 .92 0.00 512.00 Osteotech Inc. 3,316.53 03/07/2003 5,23622 08/12/2002 (1,919.69) 0.00 306-00 Osteotech Inc 1,982.14 03/07/2003 2,930.87 09/19/2002 (948.73) 0.00 415 .00 Osteotech Inc. 2,688.20 03/07/2003 4,012.72 09/27/2002 (1,324.52) 000 53.00 PXRE Group Ltd 1,070.51 03/07/2003 1,154.84 03/11/2002 (84.33) 0.00 296 .00 PXRE Group Lid 5,978.72 03/07/2003 6,545.45 03/13/2002 (56673) 0.00 381 .00 IDT Corp 5,42215 03/1012003 6,714.74 07/17/2002 (1,292 .59) 0.00 328 .00 IDT Corp 4,667.89 03/10/2003 5,819.24 07/19/2002 (1,151 .35) 0.00 89.00 Select Comfort Corp. 822.64 03/10/2003 70472 10/14/2002 11792 0.00 325 .00 Select Comfort Corp. 3,004.01 03/10/2003 2,595.35 11/14/2002 40866 0.00 2,007.00 Avid Technology Inc. 36,834.15 03/11/2003 31,929.36 11/0412002 4,904.79 0.00 334.00 IDT Corp 4,749.36 03/11/2003 5,886.42 07/17/2002 (1,137 .06) 0.00 70.00 Pharmaceutical Resources, Inc. 2,588.92 03/11/2003 2,092.81 12120/2002 49611 0.00 256.00 Pharmaceutical Resources, Inc. 9,46805 03/11/2003 7,960.24 12/23/2002 1,50781 0.00 352.00 Select Comfort Corp. 3,228.51 03/11/2003 2,787.21 10/14/2002 44130 0.00 1,100.00 Allmerica Financial Corp . 13,309 .59 03/1212003 15,739 .35 02/18/2003 (2,429 .76) 0.00 436.00 Allmenca Financial Corp . 5,275.44 03/1212003 6,254.46 03/0312003 (97902) 0.00 80.00 Digene Corporation 1,18555 03/12/2003 859 .62 12/23/2002 325.93 0.00 437.00 Digene Corporation 6,476.05 03/12/2003 4,829.99 01/17/2003 1,646.06 0.00 96.00 Digene Corporation 1,422.66 03/12/2003 1,063.08 01/28/2003 359.58 0.00 435.00 H)T Corp 6,053.66 03/12/2003 7,666.44 07/17/2002 (1,612 .78) 0.00 734.00 Orbital Sciences Corp 3,876.72 03/12/2003 4,847.26 04130/2002 (97054) 000 300.00 IDT Corp 4,241 .32 03/13/2003 5,287.20 07/17/2002 (1,04588) 0.00 6.00 IDT Corp 84.83 03/13/2003 103 .88 08/12/2002 (19.05) 0.00 2,303-00 CMS Energy Corp. 7,847.82 03/14/2003 10,497 .28 02124/2003 (2,649.46) 0.00 175.00 Danka Business Sys. - Spon. ADR 635.33 03/1412003 642.35 11/2012002 (7.02) 000 949.00 Danka Business Sys. - Spon. ADR 3,445.32 03/14/2003 3,786.98 11/21/2002 (341 66) 0.00 6.00 Documentum Inc. 83 .84 03/1412003 84.50 07/22/2002 (0.66) 0.00 866.00 Documentum Inc. 12,101 .20 03/14/2003 13,266 .08 02/14/2003 (1,164.88) 0.00 202.00 IDT Corp 2,892.89 03/1412003 3,497.25 08/12/2002 (604.36) 0.00 396.00 Danka Business Sys. - Spon. ADR 1,259.95 03/17/2003 1,377.83 11/18t2002 (117 .88) 0.00 2,353.00 Danka Business Sys. - Spon. ADR 7,486.52 03/17/2003 8,63692 11/20/2002 (1,150.40) 0.00 246.00 IDT Corp 3,485.84 03/17/2003 4,163.80 07/22/2002 (677 .96) 000 171 .00 rDT Corp 2,423.08 03/17/2003 2,960.54 09/12/2002 (537 .46) 000 257.00 Connetics Corp . 3,834.73 03/18/2003 3,666.98 01/14/2003 167.75 0.00 515.00 Danka Business Sys . - Spon. ADR 1,664.05 03/18/2003 1,460.81 11/14/2002 203.24 0.00 661 .00 Danka Business Sys . - Spon. ADR 2,135.79 03/18/2003 2,026.35 11/15/2002 109.44 0.00 17 .00 Danka Business Sys . - Spon. ADR 54 .93 03/18/2003 59 .15 11/18/2002 (4.22) 0.00 Driehaus Capital Management Friday January 23, 2004 16:57:39 Page 16 Gains and Loss Reportfrom: 1110112002 to 1013112003 Account. 06057508 -- RHD - FOUNDATION - RECOVERY

Sale Purchase Reatized Unamortized Bond Ouantity Security DescriWon Proceeds Date Cost Date Gain (- Loss Prendurn Discount

286.00 Danka Business Sys . - Spon. ADR 92411 03/18/2003 98699 11/19/2002 (62 .88) 0.00 262.00 IDT Corp 3,84685 03/1812003 4,43461 0712212002 (587 .76) 0.00 81 .00 IDT Corp 1,189.29 03/18/2003 1,36994 07/23/2002 (180 .65) 000 94.00 0steotech Inc. 590.97 03/18/2003 900.33 09/19/2002 (309 .36) 0.00 288.00 Ostootech Inc. 1,810.62 03/18/2003 2,750.40 09/20/2002 (939 .78) 0.00 293.00 Entrust Technologies Inc 75131 03/19/2003 997 .52 08/12nW2 (246 .21) O.W 2".00 IDT Corp 3,925.51 03/19/2003 4,46501 07/23/2002 (539 .50) 0.00 14.00 Looksm;irt LAd 27.93 03/19/2003 42.99 01/0612003 (15 .06) 0.00 545 .00 Looksmart Ltd 1,087.14 03/19/2003 1,705.44 02/11/2003 (618 .30) 0.00 1,381.00 Looksmart Ltd 2,754.75 03/19/2003 4,515.13 02/1212003 (1,760 .38) 0.00 252.00 LA)oksmart Ltd 50268 03/19/2003 83034 02/13/2003 (327 .66) 0.00 198.00 Ostootech Inc. 1,243.10 03/19/2003 1,777.07 0810212002 (533 .97) 0.00 112.00 Osteotech Inc. 703.17 03/19/2003 1,069.60 09/20/2002 (366 .43) 0.00 400.00 Osteotech Inc. 2,511 .32 03/1912003 3,778.00 09/23/2002 (1,266 .68) 0.00 985.00 Entrust Technologies Inc 2,52131 03120/2003 3,353.43 08/1212002 (832 .12) 000 911 .00 Entrust Technologies Inc 2,27479 03/21/2003 3,101.50 08/1212002 (826 .71) 0.00 1,594.00 Docurnenturn Inc. 21,829 .27 03nAI2003 22,447 .98 07122/2002 (618 .71) 0.00 843.00 Docurnenturn Inc. 11,544 .59 03/2412003 11,720.14 1 Qtl 112002 (175 .55) 0.00 76.00 Netease.corn Inc. ADR 1,049.63 03/24/2003 748.89 11/18/2002 300.74 0.00 594.00 Netease.corn Inc. ADR 8,065.59 03/24/2003 5,462.79 11/19/2002 2,602.80 0.00 218.00 Sepracor Inc. 3,019.48 03/24/2003 2,638.52 01/06/2003 380.96 0.00 3.00 Seprawr Inc. 41 .55 03/2V2003 38 .34 01/09/2003 3.21 0.00 438.00 Sepracor Inc. 6,06667 03/24/2003 5,37426 01/2812003 69241 0.00 244.00 Danka Business Sys. - Spon. ADR 84215 03/25/2003 650.34 10/2412002 191 .81 0.00 273.00 Danka Business Sys. - Spon. ADR 942.24 03/25/2003 759.05 10125/2002 183 .19 0.00 143 .00 Danka Business Sys. - Spon. ADR 493.55 03/25/2003 39628 10/29/2002 9727 0.00 684.00 Danka Business Sys. - Spon. ADR 2,360.77 03/25/2003 1,83157 10/30/2002 52920 0.00 1,567.00 Danka Business Sys. - Spon. ADR 5,408.38 03/25/2003 4,21693 11/07/2002 1,19145 0.00 147 .00 Danka Business Sys - Spon. ADR 507.36 03/25/2003 416.97 11/14/2002 9039 0.00 416.00 IDT Corp 6,162.75 03/25/2003 7.035.77 07/23/2002 (873 .02) 0.00 15 .00 IDT Corp 222.21 03/25/2003 253 .00 0910612002 (30 .79) 0.00 600.00 Danka Business Sys. - Spon. ADR 2,058.37 03/26/2003 1,59918 10/24/2002 45919 0.00 132.00 Danka Business Sys. - Spon. ADR 45284 03/26f2003 353 .76 11/0512002 99.08 000 428.00 IDT Corp 6,27248 03/26r2OO3 7,218.82 09/06/2002 (946 .34) 0.00 2,274.00 Reliant Resources Inc 5,878.23 03/26(2003 10,210.97 01/29/2003 (4,332 .74) 0.00 926.00 Cenh-al Garden & Pet Co. 20,179 .06 03/2712003 15,75561 06118/2002 4,423.45 0.00 546.00 Checkfree Corp. 12,140 .60 03/27/2003 10,81080 01/22/2003 1,32980 0.00 241.00 Checkfree Corp. 5,358.76 03/27f2003 4,479.71 02/1112003 879.05 0.00 221 .00 IDT Corp 3,19820 03/27/2003 3,727.47 09/06/2002 (529 .27) 0.00 2,836.00 Reliant Resources Inc 8,985.20 03/27/2003 8,905.57 12130/2OD2 79.63 0.00 762.00 Reliant Resources Inc 2,414.22 03/2712003 3,421.62 01129/2003 (1,007 .40) 0.00 1,404.00 Able Laboratories Inc 19,936 .29 03128/2003 21,509.98 03/03/2003 (1,573 .69) 0.00

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Sale Purchase Realized Unamortized Bond 0-aantity Security Description Proceeds Date Cost Date Gain (- Less) Premium Discount)

437.00 Dan Business Sys Spon. ADR 1,525.30 03/28f2003 1,130.14 10118/2002 395 16 0.00 428.00 Danka Business Sys Spon. ADR 1,493.89 03/28/2003 1,120.30 10f2312002 373.59 0.00 89.00 Danka Business Sys Spon. ADR 310-64 03/28/2003 238 .52 11/05/2002 72 12 0.00 110 .00 Danka Business Sys. - Spon. ADR 383 .94 03/28/2003 287 .12 11/1212002 96.82 000 276.00 IDT Corp 3,974.81 03/28/2003 4,655.13 09/06/2002 (68032) 0.00 113-00 Mercury Computer System 3,127.48 03/28/2003 3,616.33 12/09/2002 (488.85) 0.00 246-00 Mercury Computer System 6,808.49 03/28/2003 7,80681 12/20/2002 (998 .32) 0.00 195-00 Microstrategy Inc-Cl A 4,517.45 03/2812003 4,009.26 02/1412003 508.19 0.00 436.00 Microstrategy Inc-Cl A 10,100.56 03/28/2003 9,360.92 02/21/2003 739.64 0.00 90.00 Osteotech Inc. 559.33 03/28/2003 807 .76 09/02/2002 (24843) 0.00 1,281.00 Reliant Resources Inc 4,236.61 03/28/2003 4,022.58 12/3012002 214-03 000 24.00 Able Laboratories Inc 333 .47 03/31/2003 367.69 03/03/2003 (34.22) 0.00 88 .00 Able Laboratories Inc 1,222.73 03/3112003 1,310.32 03/04/2003 (87 .59) 0.00 145 .00 Able Laboratories Inc 2,01472 03/31/2003 2,176.45 03128/2003 (161 .73) 0.00 125-00 Central Garden & Pet Co. 2,686.33 03/31/2003 2,12684 0611812002 559.49 0.00 226-00 Central Garden & Pet Co 4,856.88 03/31/2003 3,66644 09/13r2OO2 1,190.44 000 1,043-00 GlobeSpan Virata Inc 4,572.58 03131/2003 6,727.56 01/1412003 (2,154.98) 000 3,333.00 GlobeSpan Virata Inc 14,612.10 03/3112003 21,30667 01/15/2003 (6,694.57) 000 27600 IDT Corp 4,049.50 03/31/2003 4,655.13 09/06(2002 (605 .63) 0.00 289-00 Idexx Laboratories Inc 9,988.53 03/31/2003 9,156.56 08/1912002 831 .97 0.00 200.00 Imclone Systems 3,283.91 03/31/2003 2,92062 03/0312003 363.29 000 217.00 Imclone Systems 3,563.05 03/31/2003 3,11829 03/0412003 444.76 000 551.00 Mercury Computer System 15,020.98 03/31/2003 12,76441 08/07/2002 2,256.57 000 167.00 Mercury Computer System 4,55264 03/31/2003 5,299.75 12/20/2002 (747 .11) 0.00 325-00 Netease.com Inc. ADR 4,94670 03/31/2003 3,040.08 11/19/2002 1,90662 0.00 305-00 Osteotech Inc. 1,87741 03/31/2003 2,737.41 08/02/2002 (860.00) 0.00 270.00 Pharmaceutical Resources, Inc. 11,44992 03/31/2003 8,072.27 12120/2002 3,37765 000 1,040.00 Stna Corp 8,377.71 03/31/2003 3,515.73 11/05/2002 4,861 .98 000 294-00 Central Garden & Pet Co. 6,09577 04/01/2003 4,60739 09/13/2002 1,488.38 000 904.00 Interdigital Comm Corp 17,734.74 04101/2003 20,902 .74 03/25/2003 (3,168 .00) 0.00 179 .00 IDT Corp 2,621.65 04/01/2003 2,878.32 07/24/2002 (256 .67) 000 143 .00 IDT Corp 2,094.39 04101/2003 2,411.90 09/06/2002 (317 .51) 000 18-00 Mercury Computer System 477 .50 04101/2003 41699 09/07/2002 60.51 000 66-00 Mercury Computer System 1,75082 04101/2003 1,472.00 10104/2002 27882 000 271 .00 Mercury Computer System 7,188.97 04/01/2003 6,029.75 10107/2002 1,15922 0.00 422.00 Mercury Computer System 11,19463 04/01/2003 9,680.68 10/0812002 1,51395 0.00 202.00 Netease .corn Inc. ADR 2,983.37 04/01/2003 1,889.53 11/19/2002 1,09384 0.00 57.00 Able Laboratories hic 791 12 04/02/2003 84601 02/2812003 (54 .89) 0.00 239.00 Able Laboratories Enc 3,317.16 04/02/2003 3,55871 03/0V2003 (241 .55) 0.00 319.00 Central Garden & Pet Co. 7,195.85 04/02/2003 5,175.20 09/13/2002 2,020.65 0.00 297-00 Central Garden & Pet Co. 6,699.59 04/02/2003 4,766.85 09/16f2002 1,932.74 0.00 565.00 Danka Business Sys . - Spon. ADR 1,870.96 04/02/2003 1.353 .72 10/31/2002 517 .24 0.00 Driehaus CapM Management Friday January 23, 2004 16:57:39 Page 18 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057508 -- RHD - FOUNDATION- RECOVERY

Sale Purchase Realized Unamortized Bond Quantity Security Description Proceeds Date Cost Date Gain (- Loss) Prenjiurn Discount)

270.00 Digene Corporation 5,439.27 04/02/2003 2,901.23 12/23/2002 2,538.04 0.00 437.00 Idexx Laboratories Inc. 14,42985 04/02/2003 13,086 .40 07/16/2002 1,34345 0.00 206.00 Idexx Laboratories Inc. 6,802.17 04/02/2003 6,526.82 08/1912002 275.35 000 1,352.00 On Technology Corp 2,702.96 0410212003 5,777.94 01/1412003 (3,07498) 000 506.00 Osteotech Inc. 3,239.76 04102/2003 4,541 .40 08/02/2002 (1,301 .64) 0.00 1,126.00 Primedia Inc 2,523.82 04/02/2003 3,390.40 12/05/2002 (866 .58) 0.00 286.00 Able Laboratories Inc 3,975.21 04/03/2003 4,244.90 02/28/2003 (269.69) 0.00 80-00 Central Garden & Pet Co. 1,817.47 04103/2003 1,268.18 09/1212002 549 .29 0.00 90.00 Central Garden & Pet Co 2,04465 04103/2003 1,444.50 09/16/2002 600.15 0.00 6.00 NII Holdings Inc - Cl B 155 .42 04103/2003 12453 02J28/2003 3089 0.00 109 .00 NII Holdings Inc - Cl B 2,823.52 04103/2003 2,386.01 03/03/2003 437.51 0.00 910.00 On Technology Corp 1,75233 04/03/2003 3,889.00 01/14/2003 (2,136.67) 0.00 568.00 Orbital Sciences Corp 2,71082 04103/2003 3,13759 04/04/2002 (426.77) 0.00 265.00 Orbital Sciences Corp 1,26473 04103/2003 1,607.01 04/29/2002 (342.28) 0.00 678.00 Orbital Sciences Corp 3,235.80 04/03/2003 4,477.44 04/30/2002 (1,241 .64) 0.00 51 .00 Orbital Sciences Corp 243 .40 04/03/2003 300.90 05/09/2002 (5750) 0.00 820.00 Orbital Sciences Corp 3,913.51 0410312003 4,740.75 05/1012002 (827 .24) 0.00 734.00 Orbital Sciences Corp 3,503.06 04/03/2003 4,218.30 05/13/2002 (71524) 0.00 840.00 Orbital Sciences Corp 4,008.96 04/0312003 5,091.91 05/14/2002 (1,082 .95) 000 624.00 Primedia Inc 1,393.69 04103/2003 1,878.87 12/05/2002 (485 .18) 0.00 360.00 Sepracor Inc. 5,67693 04/03/2003 4,357.19 01/06f2003 1,319.74 0.00 462.00 Central Garden & Pet Co. 10,477 .75 OVOU2003 7.323 .72 09112f2OO2 3,154.03 0.00 726.00 Entrust Technologies Inc 1,642.82 04104/2003 2,397.31 08/08/2002 (754 .49) 000 1,799.00 Entrust Technologies Inc 4,070.83 04104/2003 6,124.69 08/ 1 V2002 (2,053 .86) 0.00 180.00 NII Holdings Inc - Cl B 4,454.29 04/04/2003 3,736.01 02128/2003 718.28 0.00 72.00 On Technology Corp 131 .35 04/04/2003 307 .70 01/14/2003 (17635) 0.00 2.00 Primedia. Inc 4.18 0410V2003 4.82 11/1212002 (0.64) 0.00 444.00 Primedia Inc 927.97 04/04/2003 1,336.89 12/05/2002 (40892) 0.00 937.00 Entrust Technologies Inc 2,053.60 04107/2003 3,094.05 08/O8f2OO2 (1,04045) 000 140.00 Entrust Technologies Inc 306 .83 04/07/2003 429.20 03/1012003 (12237) 0.00 4,877.00 Primedia Inc 10,689 .78 04/0712003 11,742.89 11/12/2002 (1,053 .11) 0.00 360.00 Sepracor Inc. 5.570 .95 04/07/2003 4,357.19 01/06/2003 1,213.76 0.00 232.00 Connetics Corp. 3,739.66 04/0812003 2,388.49 09/13/2002 1,351 .17 000 896 .00 Primedia Inc 2,024.75 04/08/2003 2,157.40 11/12/2002 (132 .65) 0.00 1,791 .00 Primedia Inc 4,159.79 04/09/2003 4,31239 11/1212002 (152 .60) 0.00 704.00 Digene Corporation 13,536 .36 04/11/2003 7,135.18 12120/2002 6,401 .18 0.00 198 .00 Digene Corporation 3,807.10 04/11/2003 2,127.57 12123/2002 1,679.53 0.00 1,081.00 Iniclone Systems 15,949 .50 04/11/2003 14,926 .23 02/25/2003 1,023.27 0.00 1 .00 Iniclone Systems 14.75 04/11/2003 14 .37 03/0412003 0.38 0.00 900.00 Biornarin Pharmaceutical Inc 10,279 .67 04/14/2003 8,865.91 01/16/2003 1,413.76 000 494.00 Inspire Pharmaceuticals Inc 6,685.82 04/14/2003 4,047.89 11121/2002 2,637.93 0.00 O.On 47.00 Inspire Pharmaceuticals Inc 636 .10 (WIdnOn-3 75388 04/01/2W3 (11-7.78)

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Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

247 .00 Rambus, Inc. 3,627.29 04115/2003 3,891 .66 02/20/2003 (264 .37) 0.00 653.00 Rambus, Inc. 9,589.57 04/15/2003 10,367 .68 03/03/2003 (778 .11) 000 53.00 Pharmaceutical Resources, Inc 2,139.00 04/16t2003 1,470.19 09/23/2002 66881 0.00 172 .00 Pharmaceutical Resources, Inc. 6,941.66 04/1612003 5,142.34 1212012002 1,799.32 0.00 239.00 Digene Corporation 4,550.34 04/21/2003 2,422.31 12120/2002 2,128.03 0.00 35600 Harvest Natural Resources 1,602.24 04121/2003 2,512.47 11/07/2002 (910 .23) 0.00 721.00 Marvel Enterprises Inc. 11,89925 04121/2003 7,995.46 01/13/2003 3,903.79 0.00 901 .00 Primedia Inc 2,223.11 04/21/2003 2,169.44 11/12/2002 5367 0.00 319.00 Boston Communications Gr 6,185.12 04/22/2003 4,226.75 11/18/2002 1,958.37 000 42.00 Boston Communications Gr 814.34 0412212003 622.55 04/0112003 191 .79 0.00 6,978.00 Cray, Inc 51,32451 04/22/2003 27,372 .56 05/30/2002 23,951 .95 0.00 958.00 Cray, Inc 7,046.27 04122/2003 3,782.78 06/03/2002 3,263.49 0.00 1,322.00 Cray,lnc 9,723.56 0412212003 5,153.24 06104/2002 4,570.32 0.00 831 .00 Digene Corporation 15,94863 04122/2003 7,959.48 12/18/2002 7,989.15 0.00 589.00 Digene Corporation 11,304.14 04/22/2003 5,969.63 12/20/2002 5,33451 0.00 429.00 Harvest Natural Resources 1,956.96 04122/2003 3,021.02 10/24/2002 (1,064 .06) 0.00 194 .00 Harvest Natural Resources 884.97 04122/2003 1,369.16 11/07/2002 (494 .19) 0.00 388.00 Netease .corn Inc. ADR 8,301.25 OV22/2003 3,629.39 11/19/2002 4,671.86 0.00 112 .00 Netease .corn Inc. ADR 2,396.24 04122/2003 949.44 11/22/2002 1,44680 0.00 351 .00 Primedia Inc 86042 04122/2003 845 .14 11/12/2002 15.28 0.00 2,083.00 Primedia Inc 5,106.12 04122/2003 4,93653 11/13/2002 169.59 0.00 901 .00 Sina Corp 8,969.66 04/2212003 3,045.94 11/05/2002 5,923.82 000 676.00 Sohu .com. Inc. 9,204.92 04/2212003 4,094.48 11/1912002 5,110.44 000 2,198.00 Ask Jeeves Inc 19,438 .84 04/23/2003 10,03968 01/2412003 9,399.16 0.00 380.00 Boston Communications Gr 6,908.45 04/23/2003 4,968.99 10/29/2002 1,939.46 0.00 87 .00 Boston Communications Gr 1,581.67 04/23/2003 1,137.90 11/13/2002 443.77 0.00 615.00 Boston Communications Gr 11,18079 04/23/2003 8,14875 11/18/2002 3,03204 0.00 205.00 Digene Corporation 3,94089 04/23/2003 1,963.53 12/1812002 1,977.36 000 1,780.00 Harvest Natural Resources 8,526.08 04/23/2003 12,53476 10/24/2002 (4,008 .68) 0.00 2,160.00 Primedia Inc 5,508.64 04/23/2003 5,11901 11/13/2002 38963 0.00 222.00 Able Laboratories Inc 3,863.52 04/24/2003 3,294.99 02/28/2003 568.53 0.00 901 .00 Ask Jeeves Inc 7,119.90 04/MO03 4,11544 Olr2412003 3,004.46 0.00 117 .00 Digene Corporation 2,219.38 04/24/2003 1,120.65 12/18t2002 1,09873 0.00 20.00 Entrust TecImologies Inc 49.13 04/24/2003 61 .18 03/05/2003 (12 .05) 0.00 295.00 Entrust Technologies Inc 724.63 04124/2003 90438 03/1012003 (179 .75) 0.00 474.00 FINDWHAT.COM 5,981.07 04n4/2003 4,040.14 02/05/2003 1,940.93 0.00 612.00 Harvest Natural Resources 2,890.02 04124/2003 4,309.70 lOn4/2002 (1,419 .68) 0.00 100 .00 Harvest Natural Resources 472.23 04/24/2003 69903 10/28/2002 (226 .80) 0.00 1.352 .00 Looksmart lAd 4,191.24 04/2412003 4,151 .48 01/0612003 3976 0.00 4.470.00 Primedia Inc 11,17163 04/24/2003 10,59351 11/13/2002 578.12 0.00 1,623.00 American Tower Corp. - Cl. A 10,272.94 04/25/2003 8,227.51 01/15/2003 2,045.43 0.00 721.00 China.com. 3,475.63 04/25/2003 2,493.17 02/18/2003 982.46 0.00 Driehaus Capital Management Friday January 23, 2004 16:57.39 Page 20 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057508 -- RHD - FOUNDATION - RECOVERY

Sale Purchase Realized Unamortized Bond fNantitv Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

325-00 Entrust Technologies Inc 79834 04/25/2003 994.14 03/05/2003 (195.80) 0.00 318.00 Harvest Natural Resources 1,487.09 04/25/2003 2,22292 1012812002 (735.83) 0.00 1,463.00 Harvest Natural Resources 6,841.55 04/25/2003 9,85038 10/31/2002 (3,008.83) 000 133.00 Nficrosemi Corp. 1,484.69 04/25/2003 1,248.62 03/07/2003 236 .07 000 768.00 Microsemi Corp. 8,573.24 04/2512003 7,833.52 03/13/2003 739.72 0.00 901 .00 Sina Corp 9,295.09 04/25/2003 3,045.84 11/05/2002 6,249.25 0.00 18.00 Viasat Inc 184.44 04/25/2003 158.22 10/15/2002 2622 0.00 634.00 Viasat hic 6,496.29 04/25/2003 5,423.68 11/12/2002 1,072.61 0.00 756.00 Viasat Inc 7,746.36 04/25/2003 9,33826 03/24/2003 (1,591 .90) 000 333 .00 Viasat Inc 3,41209 04125/2003 4,119.21 03/25/2003 (707 .12) 000 63.00 Viasat Inc 64553 04/2512003 730.80 04/01/2003 (85 .27) 0.00 119 .00 Entrust Technologies Inc 292.47 04/2812003 364.01 03/05/2003 (71 .54) 0.00 427.00 Entrust Technologies Inc 1,049.46 04/28/2003 1,30366 03/0612003 (254 .20) 0.00 52.00 Harvest Natural Resources 238.05 04/28/2003 332 .97 10/23/2002 (94 .92) 0.00 114 .00 Harvest Natural Resources 521 .88 04/28/2003 740.81 10/29/2002 (218 .93) 0.00 323-00 Harvest Natm-al Resources 1,478.65 04/2812003 2,174.76 10/31/2002 (696 .11) 0.00 161-00 Harvest Natur-9 Resources 737.04 04/28/2003 1,080.26 11/01/2002 (343 .22) 0.00 451-00 Looksmart lid 1,399.83 04/2812003 1,384.85 01/0612003 14.98 0.00 2,180-00 Noven Pharmaceuticals 18,82924 04128/2003 21,649 .14 02/27/2003 (2,819 .90) 0.00 1,090-00 Noven Pharmaceuticals 9,414.62 04/28/2003 12,097 .58 03/03/2003 (2,682 .96) 0.00 709.00 Noven Pharmaceuticals 6,123.82 04/28/2003 7,780.99 03/0512003 (1,657 .17) 0.00 382.00 Noven Pharmaceuticals 3,299.44 04/28/2003 4,421 .96 03/0612003 (1,122 .52) 0.00 274.00 Noven Pharmaceuticals 2,366.61 0412812003 3,521 .97 03/17/2003 (1,155 .36) 0.00 909-00 Noven Pharmaceuticals 7,851.27 04128/2003 13,244 .58 04/01/2003 (5,393.31) 0.00 451-00 Netease .corn Inc. ADR 9,017.86 04/28/2003 3,823.17 11/22/2002 5,194.69 0.00 105 .00 Primedia, Inc 267 .03 04/28t2003 248.84 11/13/2002 18.19 0.00 1 .683-00 Prtmedia Inc 4,280.07 04/28/2003 3,974.92 11/14/2002 305 .15 000 628.00 Digene Corporation 11,492 .48 04/29/2003 6.015.11 12/1&12002 5,477.37 000 1,633.00 Entrust Technologies Inc 3,859.79 04129/2003 4,566.03 Oa/01/2002 (706.24) 0.00 823.00 Entrust Technologies Inc 1,945.26 04/29/2003 2,218.37 08/02/2002 (273 .11) 0.00 1,164.00 Entrust Technologies Inc 2,751 .25 04/29/2003 3,011.92 08/05/2002 (260.67) 000 414.00 Entrust Technologies Inc 978.54 04/29/2003 1,105.80 09/06/2002 (127 .26) 0.00 413.00 Entrust Technologies Inc 976.18 04/29/2003 1,14979 08/0712002 (173 .61) 0.00 228.00 Entrust Technologies Inc 538.91 04/29/2003 668 .25 10/09/2002 (129 .34) 0.00 1,035.00 Entrust Technologies Inc 2,446.35 04/29/2003 2,911.99 11/08/2002 (465 .64) 000 440.00 Entrust Technologies Inc 1,039.99 04/29/2003 1,19779 11/11/2002 (157 .80) 0.00 1,523.00 Entrust Technologies Inc 3,599.79 04129/2003 3,77034 0211412003 (170 .55) 0.00 652.00 Entrust Technologies Inc 1,541.08 04129/2003 1,633.80 02/1812003 (92 .72) 0.00 1,088.00 Entrust Technologies Inc 2,571.62 04/29/2003 3,120.45 02128/2003 (548 .83) 0.00 435 .00 Entrust Technologies Inc 1,028.17 0412912003 1,314.87 03/03/2003 (286.70) 0.00 117 .00 Entrust Technologies Inc 276 .54 04/29/2003 357.21 03/06/2003 (80.67) 0.00 54.00 Entrust Technologies Inc 127 .64 f-4n-9/2003 159 .7! 031/07120-03 132.07) n.()o

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32600 Entrust Technologies Inc 77054 04/29/2003 993.40 03/11/2003 (22286) 0.00 555 .00 Harvest Namral Resources 2,654.16 04129/2003 3,553.83 10/23/2002 (899 .67) 0.00 1,217.00 Primedia Inc 3,160.02 04/29/2003 2,874.32 11/14/2002 285 .70 000 528.00 Sina Corp 5,250-34 04129/2003 1,78491 11/05/2002 3,465.43 000 511 .00 Digene Corporation 9,472.78 04/30/2003 4,691 .39 12117/2002 4,781.39 000 208.00 Digene Corporation 3,85585 04130/2003 1,992.27 12/18/2002 1,863.58 0.00 1,016.00 Digene Corporation 18,83433 04/3012003 9,708.29 12/19/2002 9,12604 000 115 .00 Key Energy Group 1,152.40 04/30/2003 1,273.56 0212412003 (121 .16) 000 755.00 Microstrategy Inc-Cl A 20,941-25 04/30/2003 14,890 .71 02/12/2003 5,950.54 0.00 241 .00 Microstrategy Inc-Cl A 6,652.64 04130/2003 4,955.03 02/1412003 1,697.61 0.00 505.00 Microstrategy Inc-Cl A 13,94017 0413012003 10,249.53 03/03/2003 3,690.64 000 367.00 Microstrategy Inc-Cl A 10,13078 04/30/2003 7,413.58 03/04/2003 2,717.20 0.00 407.00 Prunedia Inc 1,023.91 04/30/2003 961 .25 11/1412002 62.66 0.00 78.00 Primedia Inc 196.23 04130/2003 181 .40 11/1512002 14.83 000 244.00 Sma Corp 2,404-60 04130/2003 824.84 11/0512002 1,579.76 0.00 447.00 Checkfree Corp. 12,079-47 05/0112003 10,246 .04 04115/2003 1,833.43 000 36.00 FINDWRAT.COM 384.23 05/01/2003 281 .29 01/29/2003 102.94 0.00 1.290 .00 FINDWHAT.COM 13,768.29 05/01/2003 10,995 .32 02/05/2003 2,772.97 0.00 117.00 Microstrategy lnc~Cl A 3,129.87 05/01/2003 2,307.57 02/12/2003 822.30 000 1,024.00 Primedia Inc 2,445.55 05/01/2003 2,381.39 11/15/2002 64.16 0.00 53.00 Sma Corp 521 .95 05/0112003 179 .17 11/05/2002 342.78 0.00 104 .00 Applied Signal Technology 1,304-79 05/02/2003 1,229.40 06120/2002 75.39 0.00 55.00 Applied Signal Technology 690.04 05/02/2003 801 .90 04101/2003 (111 .86) 0.00 861 .00 Conceptus Inc. 8,268.21 0510212003 8,880.96 04/1412003 (612 .75) 000 1,896.00 FINDWHAT.COM 18,98867 05/0212003 14,814 .78 01/29/2003 4,173.89 0.00 83.00 FINDWHAT.COM 831 .26 05/0212003 64610 01/30/2003 185 .16 0.00 548.00 FINDWHAT.COM 5,488.29 05102/2003 4,165.90 02/11/2003 1,322.39 0.00 34.00 FINDWHAT.COM 340.51 05/02/2003 25364 02/1212003 86 87 000 294.00 Rural / Metro Corp 344.34 05/0212003 1,30483 05/31/2002 (96049) 0.00 55.00 Sina Corp 558-77 05102/2003 185 .93 11/05/2002 372.94 0.00 582.00 United Online Inc 12,609 .66 05/0212003 11,08850 03126(2003 1,521.16 0.00 1.00 Conceptus Inc. 8.92 051092003 10 .25 04/11/2003 (1.33) 0.00 941 .00 Conceptus Inc. 8,396-33 05/0512003 9,70613 04/1412003 (1,309 .80) 0.00 1,800.00 FINDWHAT.COM 18,979 .02 05/O5f2OO3 13,16142 01/27/2003 5,81760 000 1,054.00 FINDWHAT.COM 11,113-27 05/0512003 7,784.32 01/28/2003 3,328.95 000 75 .00 FINDVIHAT.COM 790.79 05/05/2003 559.50 02/1212003 231 .29 000 81 .00 N11 Holdmgs Inc - Cl B 2,591.59 05/05/2003 1,681.20 02128/2003 910.39 000 28 .00 NU Holdings Inc - Cl B 895 .86 05/05/2003 571 .12 03/17/2003 324.74 000 207.00 Rural / Metro Corp 25295 05/05/2003 951-05 05/3112002 (698.10) 0.00 1,078.00 American Tower Corp. - Cl. A 7,976.82 05/0612003 5,46473 01/15/2003 2,51209 0.00 4,409.00 Looksmart Ltd 9,045.93 05/0612003 10,570.34 11/21/2002 (1,524.41) 0.00 1,484.00 Looksmart Ltd 3,044.72 05/0612003 4,556.80 01/0612003 (1,512.08) 0.00 Driehaus CapM Management Friday January 23, 2004 16:57:39 Page 22 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06057508 -- RHD - FOUNDATION - RECOVERY

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount

1,615.00 Looksmart LAd 3,313.49 05/0612003 3,860.97 03/0612003 (547 .48) 0.00 270-00 Netease.corn Inc. ADR 6,627.69 05/06t2OO3 2,288.82 11/22/2002 4,338.87 0.00 115.00 Rural / Metro Corp 147-10 05/06f2003 529.36 05/31/2002 (39126) 0.00 357.00 Sma Corp 4,195.44 05/06/2003 1,206.84 11/05/2002 2,98860 0.00 358.00 Sohu.com Inc. 6,569.35 05/06t2003 2,168.38 11/19/2002 4,400.97 0.00 794.00 Biomarin Pharmaceutical Inc 8,636.40 05/07/2003 7,821 .70 01/16/2003 814.70 0.00 1,808.00 China.com 8,859.59 0510712003 6,251.95 02118/2003 2,60764 000 1,614.00 Pharmaceutical Resources, Inc. 63,213.38 05/07/2003 44,737 .98 09112/2002 18,475 .40 0.00 41 .00 Pharmaceutical Resources, Inc. 1,605.79 05/07/2003 1,137.32 09123/2002 468.47 0.00 176.00 Pharmaceutical Resources, Inc. 6,893.16 05/0712003 4,860.68 09/30/2002 2,032.48 0.00 393.00 Pharmaceutical Resources, Inc. 15,392.10 05/0712003 10,297 .15 11/0112002 5,094.95 0.00 581 .00 American Tower Corp . - Cl . A 4,026.72 05/08/2003 2,945.28 01/15/2003 1,081.44 000 556.00 American Tower Corp . - Cl . A 3,853.45 05/08/2003 2,702.05 02/19/2003 1,151.40 000 218.00 American Tower Corp . - Cl . A 1,51089 05/08/2003 1,060.33 02/20/2003 45056 000 239.00 Checkfree Corp. 6,422.34 05/08/2003 4,120.77 12/23/2002 2,301 .57 000 300.00 Checkfree Corp. 8,061 .52 05/08/2003 5,576.40 02/1112003 2,485.12 0.00 358.00 Checkfree Corp. 9,620.08 05/08/2003 8,20600 04/1512003 1,414.08 0.00 140.00 Idexx Laboratories Inc. 5,116.75 05/08/2003 4,192.44 07/1612002 924.31 0.00 669.00 Marvel Enterprises Inc. 12,848 .21 05/08/2003 7,354.12 01/08/2003 5,494.09 0.00 236.00 Marvel Enterprises Inc. 4,532.40 05/0&'2003 2,617.10 01/13f2003 1,915.30 000 903.00 Sepracor Inc. 16,808 .82 05108/2003 10,929 .28 01/0612003 5,879.54 000 76 .00 Boston Communications Gr 1,291 .40 05/09/2003 993.80 10129/2002 29760 000 558-00 Boston Communications Gr 9,481 .59 05/09/2003 7,210.76 01/3012003 2,270.83 000 999.00 ldcxx Laboratories Inc. 36,091 .67 05109f2003 29,916 .05 07116f2002 6,175.62 0.00 792-00 Idexx Laboratories Inc. 28,613 .22 05/09/2003 22,311 .67 07123/2002 6,301.55 0.00 543.00 Marvel Enterprises Inc. 10,203 .57 05/09/2003 5,969.04 01/08/2003 4,234.53 000 9.00 Rural / Metro Corp 11 .96 05/12/2003 41 .35 05131/2002 (29.39) 0.00 1,590-00 Orbital Sciences Corp 9,212.50 05/14/2003 9,292.83 04129/2003 (8033) 000 93-00 Sohu.com Inc. 1,92758 05/14/2003 563.29 11/19/2002 1,36429 000 175.00 Sohu.com Inc. 3,627.17 05/14/2003 1,028.13 11/2212002 2,599.04 0.00 250-00 Celadon Group Inc. 2,28081 05/15/2003 2,898.10 05/28/2002 (617 .29) 0.00 34-00 Celadon Group Inc. 310.19 05/15/2003 401.20 05/30/2002 (91 .01) 0.00 259.00 Celadon Group Inc. 2,362.92 05/15/2003 3,058.01 07/15/2002 (695 .09) 000 1,070.00 Interdigital Comm Corp 27,475 .12 05/15/2003 24,74108 03/25/2003 2,734.04 0.00 398-00 Orbital Sciences Corp 2,226.62 05/15/2003 2,326.13 04/29/2003 (99.51) 0.00 703.00 Interdigital Comm Corp 18,158 .33 05/16t2OO3 16,255 .12 03/25/2003 1,903.21 0.00 272.00 Netease.com Inc. ADR 7,608.73 05/1612003 2,305.77 11/22/2002 5,302-96 0.00 399.00 Orbital Sciences Corp 2,20341 05/1612003 2,331.97 04/29/2003 (128 .56) 0.00 270.00 Sina Corp 3,96916 05/1612003 912.74 11/0512002 3,056.42 0.00 272.00 Sohu.corn Inc. 6,120.04 05/16t2OO3 1,598.00 11/2212002 4,522.04 0.00 453.00 Ask Jeeves Inc 5,109.59 0511912003 2,069.14 01124/2003 3,040.45 0.00 O.On 946.00 ChinacDrn 3,981.65 05/19/2003 3.271 .21 02/1 W2003 710.44

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Sale Purchase Realized Unamortized Bond Ouanti Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

755.00 Checkfree Corp . 20,50861 05/19/2003 13,017 .48 12t23/2002 7,491.13 0.00 272.00 Netease.com Inc. ADR 7,444.75 05/19/2003 2,305.77 11/22/2002 5,13898 000 353.00 Orbital Sciences Corp 1,843.24 05/19/2003 2,01069 04128/2003 (167 .45) 0.00 183.00 Orbital Sciences Corp 95556 05/19/2003 1,069.55 04/29/2003 (113 .99) 000 660.00 Orbital Sciences Corp 3,446.29 05/19/2003 3,795.26 04/30(2003 (348 .97) 000 249.00 Sina Corp 3,377.67 05/19/2003 841 .75 11/05/2002 2,535.92 0.00 111.00 Sina Corp 1,505.71 05/19/2003 375 .50 11/14/2002 1,130.21 0.00 269.00 Sohu.com Inc. 6,046.13 05/19/2003 1,58038 11/2212002 4,465.75 0.00 942.00 China.com 4,07306 05/20/2003 3,257.38 02/18/2003 81568 0.00 1,736.00 China.com 7,506.19 05/20/2003 5,949.29 02/24/2003 1,55690 0.00 1,206.00 Checkftre Corp. 30,243 .25 05/2Ot2OO3 18,138 .00 10115/2002 12,105 .25 0.00 338.00 Checkfree Corp. 8,476.13 05/2Ot2OO3 5,046.34 lOtl6/2002 3,429.79 0.00 322.00 Checkfiree Corp. 8,074.90 05120/2003 5,55183 12t23/2002 2,523.07 000 1,417.00 Imclone Systems 24,495 .66 05/20/2003 19,56395 02/19/2003 4,931 .71 000 33600 Imclone Systems 5,808.43 05/20/2003 4,639.42 02/25/2003 1,169.01 0.00 872.00 Imcione Systems 15,074.25 05/20/2003 11,89652 02/27/2003 3,177.73 0.00 573 .00 Inspire Pharmaceuticals Inc 7,939.06 05/20/2003 3,862.02 11/19/2002 4,077.04 0.00 1,634.00 Inspire Pharmaceuticals Inc 22,639.47 05/2012003 11,43898 11/20/2002 11,200 .49 0.00 4,388.00 Inspire Pharmaceuticals Inc 60,79682 05/20/2003 35,955.78 11121/2002 24,841 .04 0.00 544.00 Marvel Enterprises Inc. 10,367.71 05/20/2003 5,980.03 01/08/2003 4,387.68 0.00 272.00 Netease.com Inc. ADR 6,847.38 05/20/2003 2,305.77 11/22/2002 4,541 .61 0.00 371 .00 Orbital Sciences Corp 1,908.11 05/20/2003 2,113.22 04128/2003 (205 .11) 0.00 726.00 Sepracor Inc. 13,646.48 05/20/2003 8,787.00 01/06/2003 4,859.48 0.00 542.00 Sepracor Inc. 10,18787 05/20/2003 10,937.56 05/12/2003 (749 .69) 0.00 502.00 Sohu.com Inc. 10,587 .63 05/20/2003 2,949.25 11/22/2002 7,638.38 0.00 8.00 Connetics Corp . 12649 05/21/2003 82.36 09/13/2002 4413 0.00 529.00 Orbital Sciences Corp 2,715.01 05/21/2003 2,35580 08/09/2002 35921 000 332.00 Orbital Sciences Corp 1,703.94 05/21/2003 1,38293 11/18/2002 321 .01 0.00 125.00 Orbital Sciences Corp 641 .54 05/2112003 67468 0410112003 (33 14) 000 233 .00 Microsemi Corp. 2,392.40 05/22/2003 2,097.30 03106/2003 295.10 0.00 2,485.00 Microsemi Corp. 25,515 .52 05/22/2003 23,329 .43 03/07/2003 2,186.09 0.00 278.00 Thoratec Labs Inc 3,760.85 05r=2003 3,51589 03/28/2003 24496 000 541 .00 Thoratec Labs Inc 7,318.78 05/22/2003 7,40954 04/24/2003 (90 .76) 0.00 208.00 Thoratec Labs Inc 2,738.31 05/23/2003 2,46944 03/27/2003 26887 000 408.00 Thor-atec Labs Inc 5,371 .31 05/23/2003 5,160.02 03/28/2003 211 .29 0.00 961 .00 Thoratec Ubs Inc 12,651 .54 05/23/2003 11,410 .24 04/15/2003 1,24130 0.00 163.00 Thoratec Labs Inc 2,145.89 0512312003 1,94324 04/17/2003 20265 000 807 .00 Connetics Corp . 13,132 .42 05/2712003 7,841 .62 09/06/2002 5,290.80 0.00 270.00 Sma Corp 4,121.94 05127/2003 913.39 11/14/2002 3,208.55 0.00 269.00 Sohu.com Inc. 6,984.79 05/27/2003 1,58038 11/22/2002 5,404.41 0.00 285 .00 Align Technology Inc 2,691.84 05/2&'2003 1,780.88 03/28/2003 910.96 0.00 259.00 Align Technology Inc 2,446.27 05128/2003 1,60277 03/31/2003 943.50 0.00

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Sale Purchase Realized Unamortized Bond Ouanti Security Descrivtion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

2,205.00 Officemnx Inc 11,218 .09 05/28/2003 12,490 .80 11/11/2002 (1,272 .71) 0.00 482.00 Officemax Inc 2,452.21 05/28/2003 2,/10.29 04/29/2003 (258 .08) 0.00 811 .00 Officemax Inc 4,126.02 0512812003 4,631.05 04/30/2003 (505 .03) 0.00 435 .00 Staar Surgical Co. 5,019.96 05128/2003 3,730.30 OV2412003 1,289.66 0.00 473 .00 Staar Surgical Co. 5,458.49 05/28f2OO3 4,241.06 05/01/2003 1,217.43 0.00 636.00 Align Technology Inc 6,747.89 05/29/2003 3,935.76 03/31/2003 2,812.13 0.00 578 .00 Ask Jeeves Inc 8,031.68 05/29/2003 2,640.10 01/24/2003 5,391 .58 0.00 1,454.00 CMS Energy Corp. 11,329 .46 05/29/2003 9,746.89 05/08/2003 1,582.57 0.00 454.00 Dot Hill Systems Corp 4,711.75 05/29/2003 3,012.15 04102/2003 1,699.60 0.00 278 .00 Sohu.com Inc. 7,51624 05/29/2003 1,633.25 11/2212002 5,882.99 0.00 186 .00 Sohu.com, Inc. 5,02885 05/29/2003 1,061.39 11/25/2002 3,967.46 0.00 596 .00 American Tower Corp . - Cl. A 5,308.14 05/30/2003 2,879.04 01/14/2003 2,429.10 0.00 314 .00 American Tower Corp . - Cl. A 2,796.57 05/30/2003 1,525.98 02/19n003 1,270.59 0.00 75.00 CMS Energy Corp. 573 .96 05/30/2003 398.38 04115/2003 175 .58 0.00 1,212.00 CMS Energy Corp. 9,275.24 05/30/2003 6,946.46 04/16t2003 2,328.78 0.00 904 .00 CMS Energy Corp. 6,918.16 05/30/2003 6,059.96 05/08/2003 858.20 0.00 915 .00 Westel Technologies Inc. - A 7,012.22 05/30/2003 5,075.95 05/08/2003 1,936.27 0.00 178 .00 Dot Hill Systems Corp 1,993.18 06tO2/2OO3 1,071.59 03/19/2003 921 .59 0.00 654.00 Dot Hill Systems Corp 7,323.27 06102/2003 3,96455 03126/2003 3,358.72 000 443 .00 Dot Hill Systems Corp 4,960.57 0610212003 2,939.17 04/02/2003 2,021 .40 0.00 473.00 Marvel Enterprises Inc. 11,152 .05 06(0212003 5,19955 01/09/2003 5,952.50 0.00 289.00 Netease .com. Inc. ADR 9,175.45 06t0212003 2,449.88 11/22/2002 6,725.57 0.00 722.00 Sina Corp 11,004 .35 06f02/2003 2,442.47 11/14/2002 8,561 .88 0.00 540.00 Sohu.com Inc. 14,626 .67 0610212003 3,081.46 11/2512002 11,545 .21 0.00 1,093.00 Dot Hill Systems Corp 11,642 .95 06103/2003 6,580.06 03/19/2003 5,062.89 0.00 2,885.00 Mirant Corp 8,140.85 06/03/2003 11,195 .53 04/30/2003 (3,054 .68) 0.00 1,849.00 Mirant Corp 5,217.48 06(03/2003 6,656.40 05/29/2003 (1,438 .92) 0.00 438.00 Netease .com, Inc. ADR 14,139 .46 06103/2003 3,712.97 11/22/2002 10,426 .49 0.00 360.00 Sma Corp 5,669.73 06/03/2003 1,217.85 11/14/2002 4,451 .88 0.00 450.00 Sohu.com Inc. 12,601 .25 06103/2003 2,567.88 11/25/2002 10,033 .37 0.00 63 .00 Staar Surgical Co. 653 .95 06/03/2003 526.04 04/23/2003 127 .91 0.00 1,249.00 Staar Surgical Co. 12,964 .88 06tO3/2003 10,710.67 04/24/2003 2,254.21 000 668.00 Staar Surgical Co. 6,933.98 06103/2003 5,658.16 04130/2003 1,275.82 0.00 1,640.00 Continental Airlines - Class B 22,887 .42 0610412003 20,262.69 06102/2003 2,624.73 0.00 91 .00 Sina Corp 1,492.14 0610412003 307 .85 11/14/2002 1,184.29 0.00 556.00 Boston Communications Gr 8,450.80 06105/2003 6,660.38 10123/2002 1,790.42 0.00 669.00 Boston Communications Gr 10,168 .32 06105/2003 8,311 .25 10/24/2002 1,857.07 0.00 819.00 Boston Communications Gr 12,448 .21 06105/2003 10,116 .62 10/25/2002 2,331.59 0.00 438 .00 Boston Communications Gr 6,657.29 06105/2003 5,588.09 10/28/2002 1,069.20 0.00 524.00 Boston Communications Gr 7,964.42 06/05/2003 6,771 .39 01/30/2003 1,193.03 0.00 182 .00 Celadon Group Inc. 1,721 .64 06012003 2,026.81 06/1012002 (305.17) 0.00 99.00 Celadon Group inc. 936.50 06(05/2003 1,120.54 0611 lr2002 (184.04) 0.00

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9.00 Celadon Group Inc. 85 14 06105/2003 97 .88 06tl8/2002 (12 .74) 0.00 39 .00 Celadon Group Inc. 368.92 06105/2003 443 .82 07/11/2002 (74 .90) 000 544.00 Grant Prideco, Inc 7,289.25 06105/2003 7,39742 05/14/2003 (108 .17) 0.00 1,021.00 Key Energy Group 11,879.69 06105/2003 10,682.72 02/21/2003 1,196.97 000 480.00 Key Energy Group 5,584.97 06(05/2003 5,315.71 02tM003 269.26 000 2,941.00 Microsemi Corp. 38,937 .00 06tO5/2003 26,472.82 03/06t2OO3 12,46418 0.00 511 .00 Microsemi Corp. 6,76532 06tO5/2003 4,563.28 03/12/2003 2,202.04 0.00 174 .00 N U Holdings Inc - Cl B 5,966.38 06tO5/2003 3,549.10 03/17/2003 2,417.28 0.00 467.00 Sina Corp 8,307.53 06tO5/2003 1,579.83 11/14/2002 6,727.70 000 279.00 Sohu.com Inc. 8,379.37 06/05/2003 1,592.09 11/25/2002 6,78728 0.00 2,006.00 Varco, International Inc. 41,625 .55 06105/2003 38,924.62 02/25/2003 2,700.93 0.00 135 .00 Varco International Inc. 2,801 .32 06t05/2003 2,581.11 03/06t2OO3 220.21 0.00 45.00 Alestel Technologies Inc. - A 357.28 06tO5/2003 236.50 05/07/2003 120 .78 0.00 895 .00 Westel Technologies Inc. - A 7,105.96 06tO5/2003 4,965.00 05/08/2003 2,140.96 000 320.00 Align Technology Inc 2,99435 06tO6/2OO3 1,959.30 03/26t2OO3 1,035.05 0.00 293.00 Align Technology Inc 2,741 .71 06tO6t2OO3 1,794.36 03/27/2003 947.35 0.00 155-00 Align Technology Inc 1,450.39 06tO6/2003 959.19 03/31/2003 491 .20 0.00 750.00 Ask leeves Inc 9,672.44 06/06/2003 3,425.73 01/24/2003 6,246.71 0.00 252-00 Boston Communications Gr 3,825.17 W0612003 3,018.73 10/23/2002 806.44 0.00 235.00 Microsemi Corp. 3,383.84 06106t2003 2,098.57 03/12/2003 1,28527 0.00 564.00 Marvel Enterprises Inc. 13,919 .03 06106(2003 6,199.88 01/09/2003 7,719.15 0.00 147-00 NII Holdings Inc - CI B 5,080.12 06/06t2003 2,998.37 03/1712003 2,081 .75 000 2,820-00 Reliant Resources Inc 18,455 .46 06tO6t2OO3 16,078 .58 05/12/2003 2,376.88 0.00 488.00 Select Comfort Corp. 7,890.34 06tOW2003 3,826.36 1 Ot 1 1/2002 4,063.98 0.00 209.00 Select Comfort Corp . 3,379.26 06tO6/2003 1,654.90 10/14/2002 1,724.36 0.00 963.00 Somis Network 4,637.79 06tO6t2OO3 2,749.23 04/10t2003 1,888.56 0.00 2,798-00 Sonus Network 13,475 .13 06t06/2003 10,187 .15 04/21/2003 3,287.98 0.00 65-00 Westel Technologies Inc. - A 540.70 06(06t2003 306.15 04/09/2003 23455 000 687.00 Westel Technologies Inc. - A 5,714.81 O&OW003 3,610.53 05/07/2003 2,10428 000 1,871 .00 American Tower Corp . - Cl. A 15,205.26 W0912003 9,038.05 01/1412003 6,167.21 0.00 938-00 Ask Jeeves Inc 11,376 .46 06/09/2003 4,284.45 Olr2412003 7,092.01 0.00 351 .00 Microsemi Corp. 4,687.97 06109/2003 3,13447 03/12/2003 1 .553 .50 0.00 1,967.00 Quanta Services Inc. 15,278.93 06(09/2003 10,392.44 05/1212003 4,886.49 000 41900 Quanta Services Inc. 3,25464 06tO9/2003 2,55653 05/29/2003 698.11 0.00 1,276.00 Quanta Services Inc. 9,911 .50 OW0912003 8,16602 0610212003 1,745.48 0.00 98.00 Quanta Services Inc. 761 .23 06t09/2003 637.02 06103/2003 124 .21 0.00 168.00 Select Comfort Corp. 2,662.74 06tO9/2003 1,229.26 10/04/2002 1,433.48 0.00 160 .00 Select Comfort Corp. 2,535.94 06tO9/2003 1,254.54 10/11/2002 1,281 .40 000 447-00 Sigma Designs Inc. 4,961.46 06tO9/2003 4,070.96 05/23/2003 890.50 000 1,815-00 Sigma Designs Inc. 20,145 .55 W0912003 17,615 .30 05/2712003 2,53025 000 6,250.00 Sonus Network 26,85880 06tO9/2OO3 17,842.89 04/10/2003 9,015.91 000 1,028-00 Westel Technologies Inc. - A 8,714.86 0611012003 4,614.33 03/26t2OO3 4,100.53 0.00 Driehaus Capital Management Friday January 23, 2004 16:57:39 Page 26 Gains and Loss Reportfrorn 1110112002 to 1013112003 Account. 06057508 -- RHD - FOUNDATION- RECOVERY

Sale Purchase Realized Unamortized Bond Premium Discount) Ouantity Security Descriution Proceeds Date cost Date Gain (- Loss)

476.00 Westel Technologies Inc. - A 4,035.29 06(10/2003 2,241.96 04109/2003 1,79333 0.00 4,229.00 Extreme Networks Inc 23,70607 06/11/2003 25,57203 05/23/2003 (1,865 .96) 0.00 1,880.00 Extreme Networks Inc 10,538 .52 06111/2003 12,369 .84 06/05/2003 (1,831 .32) 0.00 750.00 Marvel Enterprises Inc. 15,85335 06/11/2003 8,244.53 01/08/2003 7,608.82 000 1 280.00 Osteotech Inc. 3,83861 06/11/2003 3,430.45 05/14/2003 408.16 0.00 148.00 Sigma Designs Inc. 1,563.61 06tl 1/2003 1,094.22 04/2112003 469.39 0.00 724.00 Sigma Designs Inc. 7,648.99 06/11/2003 5,755.80 05/08/2003 1,893.19 000 650.00 Sigma Designs Inc. 6,867.18 06ti 1/2003 5,271.63 05/09/2003 1,595.55 000 255.00 Sigma Designs Inc. 2,694.05 06tl 1/2003 2,055.30 05/12/2003 638.75 0.00 479.00 Sigma Designs Inc. 5,060.59 06tl 1/2003 4,362.40 05/23/2003 698.19 0.00 246.00 Wireless Facilities, Inc. 2,431.08 06/1112003 2,061.75 05/07/2003 369.33 0.00 411.00 Wireless Facilities, Inc. 4,061.68 06/11/2003 3,555.19 05/09/2003 50649 000 23 .00 Celadon Group Inc. 206.99 06tl2/2003 241.50 06tl7/2002 (3451) 000 282.00 On Technology Corp 63490 06112/2003 1,205.16 01/14/2003 (57026) 0.00 187.00 Osteotech Inc. 2,496.33 06tl2t2003 2,291.05 05/14/2003 205.28 0.00 13 .00 On Technology Corp 31 .49 06tl3/2003 55.56 01/1412003 (24.07) 0.00 2,862.00 La Jolla Pharin Co 9,851.12 06/1612003 10,992 .53 05/15/2003 (1,141 .41) 000 729.00 Sigma Designs Inc. 7,060.03 06tl6t2003 5,389.79 04121/2003 1,67024 000 957.00 Staar Surgical Co. 10,199.32 06116t2OO3 7.990 .76 04123/2003 2,208.56 000 4.00 Staar Surgical Co. 42.63 06tI612003 31 .78 04/25/2003 10.85 0.00 438.00 Staar Surgical Co, 4,66803 06tl6/2003 3,544.08 04/2812003 1,123.95 0.00 420.00 Staar Surgical Co . 4,476.19 06/16t2003 3,423.00 04/29/2003 1,053.19 0.00 444.00 Biomarin Pharmaceutical Inc 4,85167 06117/2003 5,782.79 06105/2003 (931 .12) 0.00 657.00 China.corn 5,349.43 06/17/2003 3,827.32 06/06/2003 1,522.11 0.00 1 .00 Cash in Lieu - Short Term 4.18 06117/2003 0.00 06117/2003 4.18 0.00 657.00 Conceptus Inc. 8,780.84 06ft7/2003 9,134.80 05/20/2003 (353 .96) 0.00 397.00 La Jolla Pharm Co 1,169.93 06/17/2003 1,276.13 05/13/2003 (106.20) 0.00 6,699.00 La Jolla Pharin Co 19,741 .48 06117/2003 23,550.50 05/14/2003 (3,809.02) 0.00 1,121 .00 La Jolla Pharin Co 3,303.51 06117/2003 4,305.60 05/15/2003 (1,002.09) 0.00 3,621 .00 La Jolla Pharin Co 10,670 .83 06tl7/2003 13,625 .38 05/19/2003 (2,954.55) 0.00 16 .00 Lone Star Technologies Inc 363.12 06117/2003 361 .20 05/0612003 1.92 0.00 454.00 Lone Star Technologies Inc 10,303 .58 06117/2003 11,150.47 05/27/2003 (84689) 0.00 1,312.00 Quanta Services Inc. 9,452.64 06tl7/2003 6,931 .82 05/1212003 2,52082 0.00 1,569.00 Biomarin Pharmaceutical Inc 16,485 .65 0611812003 15,456 .24 01/16t2003 1,02941 0.00 868.00 Biomarin Pharmaceutical Inc 9,120.17 06/1812003 11,30509 06105/2003 (2,184 .92) 0.00 563.00 China.corn 4,398.17 06tI812003 3,279.73 06106t2003 1,118.44 000 3,262.00 La Jolla Pharm Co 9,585.65 06tl8/2003 9,820.57 05/1212003 (234 .92) 000 2,080.00 La Jolla Pharm Co 6,112.25 06118/2003 6,686.00 05/13/2003 (573 .75) 0.00 374.00 Netease.com Inc. ADR 12,434 .91 06tl8f2003 3,170.44 11/22/2002 9,264.47 0.00 283.00 On Technology Corp 637.21 06(18/2003 1,209.44 01/1412003 (572 .23) 000 170.00 Quanta Services Inc. 1,232.17 06118/2003 854.41 05/09/2003 377.76 0.00 A ~12 22.00 Quanta Services Inc. 159.46 W10.003 16.23 05/1 =003 'j-1 0.00

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388.00 Sobu com. Inc. 12,535 .88 06/18/2003 2,18056 11/21/2002 10,355 .32 0.00 22.00 Sohu.com Inc. 710.80 06/18/2003 125 .54 11125/2002 58526 0.00 376.00 Able Laboratories Inc 7,648.98 06/19/2003 6,508.90 05/23/2003 1,14008 000 3,301.00 Biomarin Pharmaceutical Inc 32,10640 06119/2003 32,51819 01/16(2003 (411 .79) 0.00 2,168.00 Biomarin Pharmaceutical Inc 21,08654 06/19/2003 20,965 .86 01129/2003 12068 000 1,126.00 Cbina.com 7,77230 06119/2003 6,559.46 06106/2003 1,212.84 0.00 1,024.00 Conceptus Inc. 12,458 .62 06119/2003 10,761 .52 05109/2003 1,697.10 000 1,726.00 Conceptus hic. 20,999 .60 06/19/2003 21,556.01 05/15/2003 (556 .41) 000 69.00 Conceptus Inc. 839 .50 06119/2003 959 .36 05/20/2003 (119 .86) 000 187 .00 Netease.corn Inc. ADR 5,77538 06/19/2003 1,585.22 11/2212002 4,190.16 0.00 207 .00 On Technology Corp 465.72 06119/2003 884.64 01/14/2003 (418 .92) 0.00 354.00 Sepracor Inc. 7,525.47 0&19/2003 4,28457 01/0612003 3,240.90 0.00 1.00 Sigma Designs Inc. 9.22 06119/2003 6 93 04/15/2003 229 000 584.00 Sigma Designs Inc. 5,386.15 06/19/2003 4,160.30 04/17/2003 1,225.85 0.00 958 .00 Sigma Designs Inc. 8,835.50 06/19/2003 7,08288 04/21/2003 1,752.62 0.00 373 .00 Sina Corp 5,919.86 06119/2003 1,261.83 11/1412002 4,658.03 0.00 279.00 Sohu.com Inc. 7,608.72 06119/2003 1.567 .98 11/21/2002 6,040.74 0.00 167 .00 Able Uboratones Inc 3,442.41 0612012003 2,705.40 05/2212003 737 .01 0.00 397 .00 Able Laboratories Inc 8,183.45 06/2012003 6,872.43 05/23/2003 1,311 .02 0.00 824.00 Able Laboratories Inc 16,985 .29 0612012003 12,230.06 02128/2003 4,75523 0.00 34.00 Able Laboratones Inc 700.85 06120/2003 550.80 05/2212003 150.05 0.00 1,082.00 Allmerica Financial Corp 18,988 .20 06120t2003 18,664.39 05/12/2003 323 .81 000 361 .00 Align Technology Inc 4,210.32 06/20/2003 1,995.36 03/1 U2003 2,21496 000 222.00 Align Technology Lac 2,589.17 06/20/2003 1,213.85 03/19/2003 1,37532 0.00 120.00 Align Technology Inc 1,399.55 06/20/2003 672.00 03/25/2003 72755 000 992.00 Align Technology Inc 11,569 .64 06120/2003 6,073.82 03/2612003 5,495.82 000 105.00 American Tower Corp . - Cl. A 881 .96 06/20t2003 431 .20 12102/2002 450.76 0.00 822.00 American Tower Corp . - Cl. A 6,904.47 06120/2003 3,970.75 01/14/2003 2,933.72 000 1,497.00 American Tower Corp . - Cl. A 12,574.20 06120/2003 13,443.21 06/19/2003 (869.01) 0.00 374.00 American Tower Corp . - Cl. A 3,141.45 06/2012003 3,253.80 0612012003 (112.35) 0.00 909.00 Applied Signal Technology 15,454.09 06120/2003 14,727.16 05/22/2003 726 .93 0.00 546.00 Applied Signal Technology 9,28265 06120/2003 8,970.78 05/27/2003 311 .87 0.00 1,60-4.00 Ask Jeeves Inc 20,961 .04 06120/2003 7,326.50 01/24/2003 13,63454 0.00 581 .00 Audiocodes; Ltd. 2,637.31 0612012003 2,945.67 05/2912003 (30836) 000 1,235.00 Audiocodes Ltd. 5,605.99 06120f2003 7,000.10 05/30/2003 (1,39411) 0.00 0.00 I 547 .00 Audiocodes Ltd. 2,482.98 06(2012003 2,891.82 06/02/2003 (408.84) 1,092.00 Audiocodes Ltd. 4,95688 W20/2003 5,450.20 06/03/2003 (493 .32) 0.00 396.00 Audiocodes Ltd. 1,797.55 06/2012003 1,968.94 06tl6(2003 (171 .39) 0.00 1,860.00 Continental Airlines - Class B 27,17834 W2012003 22,27480 05/0212003 4,903.54 0.00 183.00 Continental Airlines - Class B 2,674.00 06120/2003 2,261.02 OW0212003 412 .98 0.00 943.00 China.cout 6,704.69 O6/2Of2OO3 3,195.66 02/19/2003 3,509.03 0.00 1,074.00 China.oorn 7,636.10 WW2003 3,680.61 02/24/2003 3,955.49 0.00 Driehaus Capital Management Friday January 23, 2004 16:57:39 Page 28 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057508 -- RHD - FOUNDATION - RECOVERY

Sale Purchase Realized Unarnortized Bond Quantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

474.00 China.corn 3,370.12 06120/2003 2,761 .27 06106/2003 608.85 0.00 512 .00 CMS Energy Corp. 4,246.68 06/20/2003 2,682.28 04/01/2003 1,564.40 0.00 2,33300 CMS Energy Corp . 19,350 .62 06120/2003 12,392 .34 04/15/2003 6,95828 0.00 768 .00 Concur Technologies Inc. 7,725.71 06/20/2003 4,507.78 04/07/2003 3,217.93 0.00 1,471.00 Concur Technologies Inc. 14,797.56 06120/2003 10,366 .43 05/23/2003 4,431.13 0.00 414.00 Concur Technologies Inc. 4,164.64 06/2012003 2,99641 05/27/2003 1,168.23 0.00 12-00 Conceptus Inc 153 .71 0612012003 123.00 04/11/2003 30.71 0.00 832.00 Conceptus Inc. 10,657 .42 OW20/2003 8,743.74 05/09/2003 1,913.68 000 669-00 Corrections Corp of America 15,469.89 06120/2003 15,004.27 04/29/2003 465 .62 0.00 139.00 Corrections Corp of Amenca 3,214.22 06120/2003 3,053.69 05/05/2003 160.53 0.00 224.00 Corrections Corp of America 5,179.76 06/20/2003 4,96621 05/20(2003 213 .55 0.00 212.00 Corrections Corp of America 4t9O2.27 06/20/2003 4,786.39 0512112003 11588 0.00 1,787.00 Ditech Communications 8,726.87 0612=003 8,24690 05/15/2003 47997 0.00 37-00 D & K Healthcare Resources 569 .63 06/20/2003 38889 12/1012002 180.74 0.00 631 .00 D & K Healthcare Resources 9t7l4.54 06120/2003 7J77 .50 04128/2003 2,537.04 0.00 1,352.00 D & K Healthcare Resources 20,81468 W20/2003 17,593 .98 04/2912003 3,220.70 0.00 339.00 Dycorn Industries Inc. 5,384.32 06120/2003 6,008.61 06111/2003 (624.29) 0.00 940.00 Dycom Industries Inc. 14,929 .97 06/20/2003 16,828 .91 06116/2003 (1,898 .94) 0.00 435 .00 Enterasys Network Inc 1,446.39 06/20/2003 868 .39 02119/2003 578 .00 0.00 1,090-00 Enterasys Network Inc 3t624.28 06/20/2003 2,371.76 02/27/2003 1,25252 0.00 1,199.00 Enterasys Network Inc 3,986.71 06/20/2003 2t623.70 03/04/2003 1,363.01 0.00 981 .00 Enterasys Network Inc 3,261 .85 06120/2003 2t 177 .68 03/05/2003 1,08417 0.00 3,751.00 Enterasys Network Inc 12,472 .17 06/20/2003 14,03449 06117/2003 (1,562 .32) 0.00 1,935.00 Extreme Networks Inc 10,447 .48 06/20/2003 11,113 .31 05/13/2003 (665 .83) 000 1,214.00 Extreme Networks Inc 6,554.64 06(2012003 7,340.85 05/23/2003 (786 .21) 0.00 2,304.00 Frontier Airlines Inc 21,090 .51 06120/2003 22,075 .08 06118/2003 (984 .57) 0.00 266.00 Grant Prideco Inc 3,372.06 06/20/2003 3,316.54 02/25/2003 55.52 0.00 436.00 Grant Prideco Inc 5,527.13 O6/2Ot2OO3 5,461 .12 02/26/2003 66.01 000 360.00 Grant Prideco Inc 4,563.68 06120/2003 4,895.35 05/1412003 (33167) 0.00 940.00 Grant Prideco Inc 11,916.29 06/20/2003 13,482 .33 06tl 1/2003 (1,566 .04) 0.00 1,175.00 Dot Hill Systems Corp 14,088 .41 06/20/2003 6,495.19 03/17/2003 7,59322 0.00 979.00 Dot Hill Systems Corp 11,738.34 06t2O/2003 5,893.76 03/19/2003 5,844.58 000 439.00 Dot Hill Systems Corp 5,263.67 06t2O/2003 2,624.08 03/25/2003 2,639.59 0.00 697.00 Harris Interactive, Inc. 4,53385 0612(Y2003 3,547.24 02126t2003 986.61 000 1,451.00 Harris Interactive, Inc. 9,43847 06t2O/2003 8,06248 03128/2003 1,375.99 0.00 395 .00 Harris Interactive, Inc. 2,569.40 06120/2003 lt991 .78 04/2&-2003 577 .62 0.00 2,909.00 Harris Interactive, Inc 18,92247 06/20t2003 17,81553 06/05/2003 1,106.94 000 5,047.00 Aquila Inc. 13,320.21 06(2012003 14,851 .78 04/30/2003 (1,531 .57) 0.00 2,287.00 Aquila Inc. 6,035.93 06/20/2003 6,459.42 05/05/2003 (423 .49) 0.00 659.00 Infospace .com 9,217.19 OWW003 7,370.12 02/18/2003 1,847.07 0.00 436.00 Infospace .corn 6,098.17 OWW2003 5,144.80 02/19/2003 953 .37 000 218.00 Infospace .com 3,049.09 W20127003 2t-533 .99 02,W/2003 415.10 0.nn

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Sale Purchase Realized Unamortized Bond Ouantity Security Descriud2n Proceed Date Cost Date Gain (- Loss) Premium Discount)

723 .00 Infospace corn 10,112.34 06t2O/2003 8,68323 05/05/2003 1,42911 0.00 351 .00 Key Energy Group 3,82221 06120/2003 3,644.86 02/11/2003 177 .35 0.00 432.00 Key Energy Group 4,704.26 06120/2003 4,520.02 0212112003 18424 000 1,501.00 Key Energy Group 16,345 .11 06(2012003 18,366 .99 06111/2003 (2,021 .88) 000 595 .00 Lone Star Technologies Inc 12,488 .46 0612012003 13,22697 04/02/2003 (738 .51) 0.00 525 .00 Lone Star Technologies Inc 11,01923 06(2012003 11,851 .88 05/06/2003 (83265) 000 261 .00 Matria Healthcare Inc. 4,268.45 06120/2003 2,935.65 10/16/2002 1,332.80 0.00 692.00 Matria Healthcare Inc. 11,317.13 06CW2003 6,818.62 10/24/2002 4,498.51 0.00 360.00 Matria Healthcare Inc. 5,887.52 062012003 4,318.06 04/23/2003 1,569.46 0.00 269.00 Matria Healthcare Inc. 4,399.29 0612012003 3,441.86 05/07/2003 957.43 0.00 4,925.00 Mirant Corp 13,18327 06120/2003 17,730.01 05/29/2003 (4,546 .74) 0.00 142.00 Maverick Tube Corp 2,702.13 06120/2003 2,840.94 05/23/2003 (138 .81) 0.00 1,089.00 Maverick Tube Corp 20,722 .69 06t2O/2003 22,329.07 05/27/2003 (1,606 .38) 000 402.00 Marvel Enterprises Inc. 8,372.58 06120/2003 4,41907 01/0&'2003 3,953.51 0.00 338 .00 Marvel Enterprises Inc. 7,039 63 06120/2003 3,671.76 01/28/2003 3,367.87 0.00 932.00 Navigant Consulting Co 10,857 .29 06t2012003 8,30981 05/13/2003 2,547.48 0.00 1,139.00 Navigant Consulting Co 13,268 .72 06/20/2003 10,327 .77 05/14/2003 2,94095 0.00 522.00 Navigant Consulting Co, 6,08101 06120/2003 5,037.61 05/27/2003 1,043.40 0.00 386.00 Navigant Consulting Co 4,496.69 W20/2003 3,916.78 05/28/2003 57991 000 133 .00 N11 Holdings Inc - Cl B 5,055.73 06/20/2003 2,45381 02/12t2003 2,601 .92 0.00 169.00 NII Holdings Inc - Cl B 6,424.20 06/20/2003 3,194.95 02127/2003 3,229.25 0.00 218.00 NII Holdmgs Inc - Cl B 8,286.84 06/20/2003 4,394.42 03/04/2003 3,90242 0.00 309.00 NII Holdings Inc - C1 B 11,746 .02 06/20/2003 6,302.70 03/17/2003 5,44332 0.00 8.00 Netease.com Inc. ADR 251 .08 06120/2003 64.72 11121/2002 186 .36 0.00 371 .00 Netease.corn Inc. ADR 11,643 .88 06/20/2003 3,14500 11122/2002 8,498.88 0.00 1,855.00 Northwest Airlines Corp 19,644 .26 06120/2003 19,103.85 05/0212003 540 .41 0.00 752.00 Northwest Airlines Corp 7,96360 W20/2003 8,260.72 06tO6(2003 (297 .12) 000 2,629.00 Officernax Inc 17,271 .70 06t2O/2003 17,750.96 06111/2003 (47926) 000 263 .00 On Technology Corp 596.98 06120/2003 1,123.96 01/14/2003 (526 .98) 0.00 938 .00 On Technology Corp 2,150.78 06/20(2003 4,008.66 01/14/2003 (1,857 .88) 0.00 365 .00 Orbital Sciences Corp 2,635.54 06/20/2003 1,520.39 11/18/2002 1,115.15 0.00 1,553.00 Orbital Sciences Corp 11,213 .68 06/20/2003 10,891 .97 06/1612003 321 .71 0.00 421.00 Orbital Sciences Corp 3,039.90 06/20/2003 3,282.41 06tl8/2003 (242 .51) 0.00 1,029.00 Orbital Sciences Corp 7,430.05 06/20/2003 7,91054 06tl9/2003 (48049) 000 499.00 Osteotech Inc. 6,421 .83 06120/2003 4,47857 08/0212002 1,943.26 0.00 1,487.00 Osteotech Inc. 19,136 .79 06t2G(2003 14,134.23 04/29/2003 5,002.56 0.00 167.00 Osteotech Inc. 2,149.19 0612012003 2,04602 05/14/2003 103 .17 0.00 330.00 PC - Tel Inc. 3,725.39 0612012003 3,362.90 04102/2003 362 .49 000 210.00 PC - Tel Inc. 2,370.70 06/20/2003 2,17130 04/0312003 199 .40 0.00 1,632-00 PC - Tel Inc. 18,423 .75 06r2O/2003 18,625 .36 05/16t2003 (201 .61) 0.00 184.00 PC - Tel Inc. 2,077.19 06/2Ot2OO3 2,059.84 05/19/2003 17.35 0.00 1.644 .00 Praecis Pharmaceuticals Inc 7,432.00 06/2012003 7,322.44 02/21/2003 109.56 0.00 Dfiehaus Capital Management Friday January 23, 2004 16:57:39 Page 30 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057508 -- RHD -FOUNDATION - RECOVERY

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1,625.00 Praecis Pharmaceutical Inc 7,34611 06/20/2003 6,775.60 02/24/2003 570.51 0.00 35 .00 Praecis Pharmaceuticals Inc 15822 06/20/2003 144 .11 02/27/2003 14 .11 000 1,271-00 Praecis Pharmaceuticals Inc 5,745.79 06120/2003 5,355.02 02/28/2003 390.77 000 459.00 Quanta Services Inc. 3,345.95 06/2012003 2,26903 05/08/2003 1,07692 000 2,979.00 Quanta Services Inc. 21,715 .88 06(20/2003 14,972 .34 05/09/2003 6,743.54 000 974.00 Rambus, Inc. 16,752 .01 06120/2003 15,346 .05 O2t2O/2003 1,405.96 000 2,345.00 Reliant Resources Inc 14,824.58 06/20/2003 7,363.74 12130/2002 7,460.84 000 791-00 Reliant Resources Inc 5,000.53 0612012003 4,509.98 05/1212003 490.55 000 692-00 Sangstat Medical Corp 9,653.91 06t2O/2OO3 10,45681 06102/2003 (80290) 000 940.00 Sangstat Medical Corp 13,113 .69 06/20/2003 14,466 .60 0611612003 (1,352.91) 0.00 1,567.00 SBA Communications 4,479.79 06/20/2003 5,034.85 05/28/2003 (555 .06) 0.00 3,477.00 SBA Communications 9,940.17 06120/2003 11,719 .10 06102/2003 (1,778 .93) 0.00 1,871.00 SBA Communications 5,348.88 06/20/2003 6,121 .51 06/03/2003 (772.63) 0.00 1,427.00 SBA Communications 4,079.56 06/20/2003 4,86687 06106/2003 (787 .31) 000 806 .00 Select Comfort Corp. 13,445 .86 06/20/2003 4,850.99 09/17/2002 8,594.87 0.00 552.00 Select Comfort Corp. 9,208.58 06/20/2003 4,038.98 10/04/2002 5,16960 0.00 958.00 Sepraoor Inc. 18,977 .08 06/20/2003 11,594 .96 01/06/2003 7,382.12 0.00 893 .00 Sepraoor Inc. 17,689 .49 06120/2003 10,808 .25 01106/2003 6,881 .24 0.00 917.00 Sigma Designs Inc. 8,463.41 06120(2003 6,025.24 04/1412003 2,438.17 0.00 242.00 Sigma Designs Inc. 2,233.53 06120/2003 1,677.06 04/15/2003 556.47 0.00 726.00 Sigma Designs Inc. 6,70059 06120/2003 4,896.00 04/16/2003 1,804.59 000 144.00 Sina Corp 2,418.24 06120/2003 483.58 11/0712002 1,93466 0.00 730.00 Sina Corp 12,259.11 06/20/2003 2,469.53 11/1412002 9,789.58 0.00 436.00 Sobucom Inc. 12,00971 06120/2003 2,450.32 11/21/2002 9,559.39 0.00 47.00 Sohu.com Inc. 1,294.62 06/20/2003 258 .97 11/2612002 1,035.65 0.00 125.00 Spectrasite Inc 6,112.21 06120/2003 6,185.00 0512712003 (72.79) 0.00 282.00 Spectrasite Inc 13,789.15 06/20/2003 15,168 .02 0611012003 (1,378 .87) 0.00 493.00 W7 Real Media Inc. 481 .91 06120/2003 49623 06103/2003 (14.32) 0.00 3,405.00 W7 Real Media Inc. 3,328.42 06120/2003 3,873.17 06104/2003 (544.75) 0.00 71 .00 2417 Real Media Inc. 69.40 06/20/2003 83 .45 06/05/2003 (14.05) 000 3,634.00 24f7 Real Media Inc. 3,552.27 06120/2003 4,271.25 06/0612003 (718 .98) 000 1,867.00 2417 Real Media Inc. 1,825.01 06/20/2003 2,45671 0611612003 (631 .70) 000 1.150.00 Tloratec Labs Inc 15,518.40 06120/2003 13,653 .14 03/27/2003 1,865.26 0.00 243.00 noratec Labs Inc 3,279.11 06120/2003 2,847.69 0411612003 431 .42 0.00 LOD4.00 TLC Vision Corp 5,038.90 06/20/2003 4,785.28 06111/2003 253.62 0.00 1,894.00 TLC Vision Corp 9,455.46 06t2O/2OO3 9,476.91 0611212003 (21 .45) 0.00 1,884.00 TLC Vision Corp 9,455.46 06120/2003 9,612.91 06113/2003 (157 .45) 0.00 2,920-00 Time Warner Telecom 17,588.86 06120/2003 24,530 .92 06t0512003 (6,942 .06) 0.00 57.00 United Therapeutics 1,208.34 OW20/2003 941 .57 09/13/2002 266.77 0.00 1,280-00 United Therapeutics 27,134.72 06/20/2003 21,902.21 09/20/2002 5,232.51 0.00 45.00 United Therapeutics 953 .96 06120/2003 783.00 04101/2003 170 .96 0.00 1,890.00 ValueC]icL Inc. 11,52001 06/20/2003 9;2" 21 05/16W2003 2.275.80 0.00

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227.00 ValueClick, Inc. 1,383.62 06t2O/2OO3 1,080.70 05/19/2003 302.92 0.00 1,388.00 ValueChck, Inc. 8,460.20 06t2O/2003 8,370.89 06tl6t2003 89 .31 000 489.00 ValueCtick, Inc. 2,980.57 06120/2003 2,974.68 06117/2003 5.89 000 336.00 Varco International Inc 6,80704 0612012003 6,344.55 03/04/2003 462.49 000 411 .00 Varco International Inc. 8,32646 06/20/2003 7,858.03 03106t2OO3 468.43 0.00 1,742.00 Viasat Inc 24,549 .02 06/20/2003 24,578 .75 06(l2t2003 (29 .73) 0.00 1,43900 Wireless Facilities, Inc. 15,655 .58 06t20/2003 10,690 .19 11/2712002 4,96539 000 224.00 Wireless Facilities, Inc. 2,437.00 0612012003 1,691 .20 12/02/2002 74580 000 949.00 Wireless Facilities, Inc. 10,32463 06t2Ot2OO3 7,953.66 05/07/2003 2,37097 000 277 .00 Wireless Facilities, Inc. 3,01362 06t2O/2003 2,266.30 05108t2003 747.32 000 1,173.00 Westel Technologies Inc. - A 10,268 .19 06/2012003 5,077.85 03/25/2003 5,190.34 0.00 384 .00 Westel Technologies Inc. - A 3,36145 06/20/2003 1,723.64 03/26t2OO3 1,63781 000 319 .00 Westel Technologies Inc. - A 2,792.46 06120/2003 1,373.74 03/27/2003 1,41872 000 81 .00 Westel Technologies Inc. - A 709.06 06/2012003 344 .43 03/28/2003 364.63 000 158 .00 Westel Technologies Inc. - A 1,383.10 06t20t2003 674.82 0351/2003 70828 0.00 977.00 Westel Technologies Inc. - A 8,552.45 06120t2003 4,182.12 04101/2003 4,370.33 0.00 378.00 Westel Technologies Inc. - A 3,308.93 0612012003 1,647.97 04/0212003 1,660.96 0.00 3,134.00 Xo Communications Inc 22,65774 06/20/2003 24,155 .93 06103/2003 (1,498 .19) 0.00 1400 Xo Communications Inc 10122 06t2012003 107 .66 0610V2003 (644) 0.00 40200 Align Technology Inc 4,586.72 06/23/2003 2,19806 03/1912003 2,38866 0.00 139 .00 Align Technology Inc 1,58596 06123/2003 750.52 03/21/2003 835.44 0.00 127 .00 Align Technology Inc 1,449.04 06123/2003 687.81 03/2412003 76123 000 709.00 Ditech Communications 3,31663 06/23/2003 3,012.19 04/2912003 304.44 0.00 223.00 Ditech Communications 1,043.17 06123/2003 952.12 05/01/2003 9105 0.00 296.00 Ditech Communications 1,39466 06/23/2003 1,251 .61 05/13/2003 133 .05 0.00 24.00 Ditech Communications 112 .27 06/23/2003 11076 05/15/2003 151 0.00 445.00 Ditech Communications 2,08167 06t23/2003 1,902.60 05/2012003 17907 000 726.00 Ditech Communications 3,396.16 06/23/2003 3,318.04 05/2212003 78.12 000 66-00 Marvel Enterprises Inc. 1,26183 06(23/2003 716.97 01/28/2003 544.86 0.00 652.00 Marvel Enterprises Inc. 12,465.32 06123/2003 6,91335 02/10/2003 5,551.97 0.00 654.00 Marvel Enterprises Inc. 12,503 .56 06(23/2003 6,906.11 02/18/2003 5,597.45 0.00 763.00 Marvel Enterprises Inc. 14,587.49 06/23/2003 8,05423 02/25/2003 6,533.26 0.00 600-00 Priceline.com Inc 14,946.13 06123/2003 12,59536 05/06r2OO3 2,350.77 0.00 322.00 Priceline corn Inc 8,02109 06123/2003 6,577.69 05/13/2003 1,44340 0.00 302.00 Priceline coin Inc 7,522.89 06/23/2003 6,797.06 05/2212003 72583 0.00 485 .00 Sepracor Inc. 9,059.13 06123/2003 5,870.10 01/0612003 3,189.03 000 951 .00 Westel Technologies Inc. - A 7,922.21 06123/2003 3,784.99 03/2412003 4,137.22 000 19.00 Westel Technologies Inc. - A 158 .28 06/2312003 80.79 03/28f2OO3 77.49 0.00 1,402.00 CMS Energy Corp. 10,990-03 0612412003 7,34484 04/01/2003 3,645.19 0.00 2,426-00 Reliant Resources Inc 14,623 .47 06/2412003 6,88556 12/27/2002 7,737.91 0.00 371 .00 Reliant Resources Inc 2,236.32 06a412003 1,16501 12/30/2002 1,071.31 0.00 229-00 Sepmeor Inc. 4,258.05 06/24/2003 2,771.66 01/06/2003 1,486.39 0.00 Driehaus Capital Management Friday January 23, 2004 16:57:39 Page 32 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057508 -- RHD - FOUNDATION- RECOVERY

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328 .00 Sepracor Inc. 6,098.87 06124/2003 3,902.51 01/29/2003 2,19636 0.00 100.00 Sepracor Inc. 1,859.41 06/24/2003 1,143.27 02/1412003 716.14 0.00 462-00 Sepracor Inc. 8,65539 06125/2003 5,28191 02/14/2003 3,373.48 0.00 1,150.00 On Technology Corp 2,33769 06/27/2003 4,91467 01/14/2003 (2,576.98) 0.00 208.00 On Technology Corp 42282 06/27/2003 765 .15 01/27/2003 (342.33) 0.00 313.00 On Technology Corp 63626 06/27/2003 1,192.28 01/28/2003 (556.02) 0.00 110 .00 On Technology Corp 223.60 0612712003 416.71 01/2912003 (193 .11) 0.00 231 .00 On Technology Corp 469.57 06/27/2003 876 .97 01/30/2003 (40740) 0.00 2.00 On Technology Corp 4.07 06/2712003 7.42 01/3112003 (3.35) 000 436.00 On Technology Corp 88629 06/27/2003 1,758.91 02104/2003 (872 .62) 0.00 454.00 Able Laboratories Inc 8,821 .75 0613012003 6,738.40 02/2812003 2,083.35 0.00 261 .00 Able Laboratories Inc 5,071.54 06/3012003 3,565.26 03/26/2003 1,50628 0.00 2,395.00 Conceptus Inc. 34,39368 06(30/2003 24,548 .99 04/11/2003 9,84469 000 750.00 Concur Technologies Inc 7,185.41 07/01/2003 4,402.13 04/07/2003 2,78328 0.00 809.00 Hams Interactive, Inc. 4,973.82 07/01/2003 4,079.36 04/28/2003 89446 000 411 .00 Matria Healthcare Inc. 6,980.51 07/01/2003 4,049.79 10/2412002 2,93072 0.00 39.00 Matda Healthcare Inc. 662.38 07/01/2003 37567 10/3012002 286.71 0.00 423 .00 China.com 3,911.88 07/02/2003 3,615.72 06/30/2003 296.16 0.00 217 .00 Sina Corp 5,060.24 07/03/2003 728.73 11/07/2002 4,331 .51 0.00 148-00 Sma Corp 3,451.22 07/03/2003 470.77 1 1/0&'2002 2,980.45 0.00 109 .00 Align Technology Inc 1,54085 07/07/2003 588.53 03/21/2003 952.32 0.00 499.00 CNIS Energy Corp. 3,833.19 07/07/2003 2,27449 02/24/2003 1,558.70 0.00 977.00 CMS Energy Corp. 7,505.05 07/07/2003 5,118.33 04/0112003 2,386.72 0.00 2,214.00 Grant Prideco Inc 25,712 .18 07/07/2003 27,604 .59 02/2512003 (1,892 .41) 0.00 316.00 Lone Star Technologies Inc 6,073.48 07/07/2003 7,024.74 04/02/2003 (951 .26) 000 341 .00 Lone Star Technologies Inc 6,55398 07/07/2003 7,461 .49 04109/2003 (907 .51) 0.00 37.00 Align Technology Inc 493.73 07/08/2003 199.78 03/21/2003 293.95 0.00 181.00 China.corn 2,024.06 07/08/2003 1,547.15 0613012003 476.91 000 135-00 Celadon Group Inc. 1,253.97 07/08/2003 1,189.35 02/19/2003 64.62 0.00 147.00 Celadon Group Inc. 1,365.43 07/08/2003 1,300.95 02120/2003 64.48 0.00 4,i)91 .00 Extreme Networks Inc 23,886 .31 07/08/2003 26,941 .88 05/13/2003 (3,055 .57) 000 983-00 Extreme Networks Inc 5,005.38 07/08/2003 6,201 16 07/0712003 (1,195 .78) 0.00 790.00 Grant Prideco Inc 9,287.27 07/08/2003 9,949.88 02/25/2003 (562 .61) 000 116-00 Grant Prideco Inc 1,363.70 07/08/2003 1,445.89 05/0612003 (82 .19) 0.00 I 355-00 Dot Hill Systems Corp 5,436.96 07/08/2003 1,962.38 03/17/2003 3,47458 0.00 454.00 Ahgn Technology Inc 5,987.43 07/09/2003 2,406.94 03/17/2003 3,58059 0.00 255 .00 Ahgn Technology Inc 3,362.98 07/09/2003 1,376.85 03121/2003 1,986.13 0.00 1,408.00 China.com, 18,029.01 07/09/2003 4,771 .47 02/19/2003 13,257.54 0.00 508 .00 Cluna.com. 6,504.78 07/09/2003 4,34228 06130/2003 2,162.50 0.00 76.00 Celadon Group Inc. 741 .28 07/09/2003 630.04 02114/2003 111 .24 0.00 41 .00 Celadon Group Inc. 399.90 07/09/2003 343 .94 02/18/2003 56.06 0.00 28.00 Celadon Group Inc. 273.10 07/09/2003 246.68 0211912003 2642 0.00

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1,522.00 Extreme Networks Inc 7,827.01 07/09/2003 8,741 .32 05/13/2003 (914 .31) 0.00 2,723.00 Extreme Networks Inc 14,003 .25 07/09/2003 14,760.56 05/2212003 (757 .31) 000 1,397.00 Extreme Networks Inc 7,184 19 07/09/2003 7,94697 06126/2003 (76278) 000 286.00 Grant Prideco Inc 3,41245 07/09/2003 3,546.66 02/27/2003 (134 .21) 0.00 291 .00 Grant Prideco Inc 3,472.11 07/09/2003 3,627.20 05/06r2OO3 - (155 09) 0.00 133.00 Grant Prideco Inc 1,586.91 07/09/2003 1,65585 05/07/2003 (68.94) 0.00 44.00 Dot Hill Systems Corp 720 .42 07/09/2003 24322 03/17/2003 477.20 0.00 524.00 Lone Star Technologies Inc 9,295.37 07/09/2003 11,288 .01 04/01/2003 (1,992.64) 000 738.00 Lone Star Technologies Inc 13,09157 07/09/2003 16,148 .33 04/09/2003 (3,056.76) 000 423.00 Sma Corp 11,86671 07/09/2003 1,345.52 11/0812002 10,521 19 0.00 427.00 Ask Jeeves; Inc 7,13854 07/10/2003 1,950.38 01/24/2003 5,188.16 000 159 .00 China.com 2,016.28 07/10/2003 538.82 02/19/2003 1,477.46 000 1,164.00 China.com, 14,760 .69 07/l(V2003 3,937.57 02120/2003 lOt823 .12 0.00 1,635.00 China.com. 20,73344 07/1012003 5,227.92 03/04/2003 15,505 .52 0.00 241 .00 China.corn 3,05612 07/10/2003 773 .08 03/05/2003 2,28304 0.00 304.00 China.com 3,855.02 07/10/2003 986.33 03/0612003 2,86869 0.00 1,553.00 China.com 19,693 .60 07/1012003 4,775.35 03/18/2003 14,91825 000 256.00 China.com, 3,246.34 07/10/2003 810.09 03/19/2003 2,436.25 000 385 .00 Chinacorn 4,882.19 011012003 1,241.01 03/2012003 3,641 .18 0.00 20.00 Celadon Group Inc. 198 .52 07/10/2003 160.70 02106r2003 37.82 0.00 6.00 Celadon Group Inc. 59.56 07/10/2003 49 .74 02/14/2003 982 0.00 240.00 Dot Hill Systems Corp 3,761.80 07/10/2003 1,326.68 03/17/2003 2,43512 0.00 34.00 Infospace .com 523 .22 07/10/2003 375 .28 02/12/2003 147.94 000 213 .00 Infospace .corn 3,277.80 07/1012003 2,38215 02118/2003 895.65 0.00 59.00 Infospace .com 90794 07/10/2003 653 .13 04101/2003 25481 0.00 3,005.00 Mirant Corp 6,702.91 07/1012003 10,692 .11 04129/2003 (3,989 .20) 0.00 2,671.00 Mirant Corp 5,957.89 (17/10/2003 9,615.61 05129/2003 (3,657 .72) 000 126 .00 American Tower Corp. - C1 A 1,183.08 07/11/2003 517.44 12/02/2002 665 .64 000 209.00 Audiocodes Ltd. 1,248.88 07/11/2003 1,039.16 06tl6/2003 209.72 0.00 737.00 AudiocDdes; lid. 4,403.95 07/11/2003 4,120.35 07/08/2003 28360 000 252.00 Celadon Group Inc. 2,511 .49 07/11/2003 2,024.87 02/06t2OO3 48662 0.00 182 .00 Celadon Group Inc. 1,813.85 07/11/2003 1,45578 02/1=003 35807 000 183.00 Infospace.com 2,81861 07/11/2003 2,019.86 02/1212003 798.75 0.00 32.00 Infospace.com 492.87 07/11/2003 351 .04 02/14/2003 141 .83 0.00 2,854.00 Muant Corp 5,083.06 07/11/2003 10,154.84 04129/2003 (5,071 .78) 000 678 .00 Mirant Corp 1,207.54 07/11/2003 2,410.75 05/15/2003 (1,203 .21) 000 311 .00 Mastec Inc 2,176.89 07/11/2003 2,218.71 07/0812003 (4182) 000 213 .00 Netease.com Inc. ADR 8,403.52 07/11/2003 1,723.17 11/2112002 6,680.35 0.00 282 .00 Sina Corp 7,757.45 07/1112003 897 .01 11/08/2002 6,860.44 000 294.00 Sohu.com Inc. 11,387 .86 07/11/2003 1,56484 11/2612002 9,82302 000 241 .00 ValueClick, Inc. 1,661.61 07/11/2003 1,66880 07/0312003 (7.19) 0.00 90.00 ValueC]ick, Inc. 620.52 07/11/2003 656 .55 07/08/2003 (36 .03) 0.00 Diiehaus Capital Management Friday January 23, 2004 16:57:39 Page 34 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057508 -- RHD - FOUNDATION- RECOVERY

Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

144.00 Celadon Group Inc. 1,503.27 07/1412003 1,151.83 02/10/2003 351 44 0.00 3,021.00 Officernax Inc 25,944 .80 07/14/2003 13,289 .37 09/0612002 12,655 .43 000 800.00 Officernax Inc 6,870.52 07/14/2003 3,930.40 09/11/2002 2,940.12 000 1,352.00 Officeninx Enc 11,611 .18 07/14/2003 7,548.62 04/28/2003 4,062.56 000 1,320.00 Officernax Inc 11,336.36 07/14/2003 7,422.36 04/29/2003 3,914.00 000 1,112.00 Officernax Inc 9,550.02 07/1412003 7,508.20 06111/2003 2,041.82 000 697.00 Officernnx Inc 5,985.94 07/1412003 4,689.83 06/2612003 1,29611 000 1,421-00 Officemax Inc 12,203 .76 07/1412003 10,425 .59 07/11/2003 1,778.17 000 354.00 Audiocodes Ltd. 2,300.89 07/1612003 1,760.12 0611612003 540.77 000 1,414.00 CMS Energy Corp. 9,412.69 07/16/2003 6,445.14 02/MO03 2,96755 000 1,319.00 Aquila Inc. 2,935.84 07/1612003 3,725.39 05/05/2003 (789.55) 000 2,946.00 Aquila Inc. 6,557.24 07/1612003 8,029.92 0511=003 (1,472.68) 0.00 1,803.00 Mirant Corp 485 .09 07/16/2003 6,117.15 05/0512003 (5,632.06) 0.00 1,811.00 Mirant Corp 487 .24 07/16/2003 5,467.99 05/09/2003 (4,980.75) 0.00 1,137.00 Mirant Corp 305 .91 07/1612003 4,04281 05/15/2003 (3,736.90) 0.00 2,142.00 2417 Real Media Inc. 3,826.55 07/16/2003 2,156.05 06/03/2003 1,67050 000 1,387.00 247 Real Media Inc. 2,477.79 07/1612003 1,606.65 06125/2003 871.14 0.00 288.00 Align Technology Inc 3,292.69 07/17/2003 1,478 07 03/14/2003 1,81462 0.00 683-00 Align Technology Inc 7,808.71 07/17/2003 3,620.86 03/17/2003 4,187.85 000 446-00 Align Technology Inc 5,099.10 07/1712003 2,362.33 03/20/2003 2,73677 0.00 233-00 AsiaInfo Holdings Inc 2,071.41 07/17/2003 2,14658 07/02/2003 (75 .17) 0.00 474-00 AsiaInfo Holdings Inc 4,213.94 07/1712003 5,03056 07/08/2003 (816.62) 0.00 1,423.00 Ask Jeeves Inc 21,041 .61 07/17/2003 6,499.75 01/2412003 14,541 .86 0.00 140.00 Audiocodes Ltd. 839 .32 07/17/2003 623.32 05/16/2003 21600 0.00 921.00 Audiocodes Ltd. 5,521.49 07/17/2003 4,579.28 06/1612003 942.21 0.00 858-00 Continental Airlines - Class B 12,116 .95 07/17/2003 10,275 .15 05/0212003 1,841 .80 000 912.00 Lone Star Technologies Inc 15,013 .09 07/17/2003 19,311 .05 03/31/2003 (4,297 .96) 0.00 352-00 Lone Star Technologies Inc 5,794.53 07/17/2003 7,582.78 04/01/2003 (1,788 .25) 000 114 .00 Matria Healthcare Inc. 2,270.40 07/17/2003 1,094.51 10/25/2002 1,175.89 0.00 130 .00 Matria Healthcare Inc. 2,589.05 07/17/2003 1,252.23 10/30/2002 1,33682 0.00 1,129.00 Northwest Airlines Corp 11,151 .28 07/17/2003 11,627 .08 05/0212003 (475 .80) 0.00 461 .00 Sina Corp 11,57341 07/17/2003 1,466.39 11/08/2002 10,10702 0.00 520.00 Sina Corp 13,819 .08 07/1812003 1,654.07 11/08/2002 12,16501 000 471 .00 Stna Corp 12,516 .90 07/18)'2003 1.445 .17 11/11/2002 11,07173 000 1,044.00 CMS Energy Corp . 6,71824 07/21/2003 4,758.65 02/24/2003 1,959.59 000 731 .00 CMS Energy Corp . 4,70405 07/21/2003 3,307.40 02125/2003 1,396.65 0.00 1,052.00 CMS Energy Corp . 6,769.72 07/21/2003 4,790.70 02/26/2003 1,979.02 0.00 1,023.00 CMS Energy Corp . 6,508.53 07/22/2003 4,628.55 02/25/2003 1,879.98 0.00 1,465.00 Westel Technologies Inc. - A 15,089 .95 07/22/2003 5,647.21 03/2112003 9,442.74 000 1,371 .00 Westel Technologies Inc. - A 14,121 .72 0712212003 5,456.60 03/24/2003 8,665.12 0.00 230.00 Matria Healthcare Inc. 4,511 .65 07123/2003 2,208.23 l(Y25/2002 2,30342 0.00 220.00 Matria Healthcare inc. 4,315.49 017123,r20031 2,107.60 1 11,100-W2002 2,2007.8.9 0.00

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327.00 Matria Healthcare Inc. 6,414.39 07/2312003 3,101 .04 11/11/2002 3,313.35 000 982.00 Netease .com Inc. ADR 31,103 .86 07/23f2003 7,135.38 1 MV2002 23,968 .48 000 16.00 Sohu.corn Inc. 57689 07/23/2003 88 .16 11/26/2002 488 .73 000 1,124.00 Sohu.com Inc. 40,52661 07/2312003 6,125.80 11/27/2002 34,400.81 0.00 4,470.00 Westel Technologies Inc. - A 34,525 .58 07/23/2003 16,754 .34 03/20/2003 17,771 .24 0.00 1.546.00 Westel Technologies Inc. - A 11,941 .06 07/23/2003 5,959.44 03/21/2003 5,981.62 0.00 516.00 Concur Technologies Inc. 5,187.26 07/24/2003 6,30041 07/09/2003 (1,113 .15) 000 280.00 Concur Technologies Inc. 2,814.79 07/24/2003 3,133.20 07/11/2003 (318.41) 0.00 424.00 Concur Technologies Inc. 4,262.40 07/2412003 4,840.64 07/15/2003 (578 .24) 0.00 281 .00 NU Holdings Inc - C1 B 12,815 .46 07/24/2003 5,194.37 02/12/2003 7,631.09 0.00 198.00 Matria Healthcare Inc 3,626.95 07/25/2003 1,863.48 10/31/2002 1,76347 0.00 221 .00 Matria Healthcare Inc. 4,048.26 07/25/2003 2,08292 11/07/2002 1,965.34 000 4.00 Matria Healthcare Inc. 73 .27 07/2512003 3793 11/11/2002 35 .34 0.00 891 .00 Ostootech Inc. 11,53647 07/25/2003 7,996.81 08/0212002 3,539.66 0.00 239 .00 0steotech Inc. 3,094.52 07/25/2003 2,07194 OV2812003 1,022.58 000 477.00 Grant Prideco Inc 4,814.56 07/29/2003 5,91523 02127/2003 (1,100 .67) 0.00 872 .00 Grant Prideco Inc 8,80146 07129/2003 10,477 .86 03/0412003 (1,67640) 000 548.00 Grant Prideco Inc 5,531 .19 07/29/2003 6,250.49 03/1 &-2003 (71930) 000 1,395.00 Grant Prideco Inc 14,080.32 07129/2003 15,813 .86 07/1712003 (1,733 .54) 000 284.00 NU Holdings Inc - CI B 13,22463 07/29/2003 5,239.71 02/1212003 7,99492 0.00 2,064.00 Northwest Airlines Corp 19,030.42 07/29/2003 21,25625 05/0212003 (2,225 .83) 0.00 705.00 Northwest Airlines Corp 6,50021 07/29/2003 7,099.07 0610412003 (59886) 0.00 72.00 PC - Tel Inc. 898 .14 07/29/2003 857.02 07/0712003 41 .12 000 211 .00 PC - Tel Inc. 2,632.03 07/29/2003 2,792.33 07/08/2003 (160 .30) 0.00 73 .00 Thoratec Labs Inc 1,138.52 OW29/2003 827 .82 03/26f2OO3 310.70 0.00 515 .00 Thoratec Labs Inc 8,032.02 07/29/2003 6,005.47 04/14/2003 2,026.55 0.00 161 .00 Thoratec Labs Inc 2,510.98 0712912003 1,88674 04/16/2003 62424 0.00 995 .00 ValueClick, Inc. 7,095.90 (Y7f2912003 4,737 .00 05119/2003 2,358.90 0.00 204.00 ValueCfick, Inc. 1,454.84 07/29/2003 1,412.60 07/03/2003 4224 0.00 77 .00 ValueClick, Inc. 549 .13 07/29/2003 528.74 07/07/2003 20.39 0.00 4971.00 Frontier Airlines Inc 5,985.19 (Y7/30f2OO3 4,761 .96 0611 8f2003 1,123.33 0.00 855 .00 Frontier Airlines Inc 10,124.43 07/30/2003 8,451.76 06126/2003 1,672.67 0.00 1,012.00 Northwest Airlines Corp 9,11455 07/30/2003 9,300.99 05/16/2003 (18644) 0.00 1,483.00 Northwest Airlines Corp 13,356 .60 07/3Ot2OO3 14,933 .22 06/04/2003 (1,576 .62) 000 995 .00 PC - Tel Inc. 11,379.97 07/30/2003 9,874.98 04/01/2003 1,504.99 000 549.00 PC - Tel Inc. 6,27900 07/30/2003 5,594.64 04102/2003 684.36 0.00 139 .00 PC - Tel Inc. 1,589.77 07/30/2003 1,65452 07/07/2003 (6475) 0.00 1,366.00 Thoratec Labs Inc 20,557 .46 07/30/2003 14,952.24 03/1912003 5,605.22 000 581.00 Thoratec Labs Inc 8,74369 07/3012003 6,588.54 03/26/2003 2,155.15 0.00 62.00 Frontier Airlines Inc 723.72 07/31/2003 594.03 06118/2003 129.69 0.00 550.00 Harris Interactive, Inc. 3,932.75 07131/2003 2,764.39 03/ 1 W2003 1,168.36 0.00 439 .00 Harris Interactive, Inc. 3,139.05 07/31/2003 2,212.56 03/1912003 926.49 0.00 Driehaus Capital Management Friday January 23, 2004 16:57:39 Page 36 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057508 -- RHD - FOUNDATION- RECOVERY

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss Prendurn Discoun

436.00 Harris Interactive, Inc. 3,117.60 07/31/2003 2,198.52 04/28/2003 919.08 000 87 .00 Northwest Airlines Corp 790.79 07/3112003 79959 05/16/2003 (8.80) 000 908.00 Northwest Airlines Corp 8,253.33 07/31/2003 7,995.85 05/22/2003 257.48 0.00 129 .00 PC - Tel Inc. 1,468.88 07131/2003 1,187.11 0312612003 28177 0.00 313.00 PC - Tel Inc. 3,564.02 07/31/2003 3,106.40 04/01/2003 457.62 000 609.00 Thoratec: Labs Inc 9,145.35 07/31/2003 6,666.11 03/19/2003 2,479.24 0.00 658.00 Thoratec Labs Inc 9,881 .18 07/31/2003 7,188.65 03r24/2003 2,692.53 000 949.00 TLC Vision Corp 6,130.15 08/01/2003 5,44650 07/23/2003 683.65 0.00 999.00 Continental Airlines - Class B 13,355 .20 08104/2003 11,963 .72 05102/2003 1,39148 0.00 981 .00 Hams Interactive, Inc. 6,259.36 Oa/04/2003 4,93066 03/18/2003 1,328.70 0.00 2,472.00 Sangstat Medical Corp 54,676 .83 08/0412003 37,354 .39 06/02/2003 17,322 .44 000 844.00 Sangstat Medical Corp 18,66798 08/0412003 12,372 .70 06/03/2003 6,295.28 000 698.00 Sangstat Medical Corp 15,438 .68 0910412003 10,429 .52 06111/2003 5,009.16 000 618.00 Sangstat Medical Corp 13,669 .21 Oa/0412003 9,276.74 0611212003 4,392.47 000 584.00 Sangstat Medical Corp 12,917 .18 08/0412003 8,361 .65 07/03/2003 4,555.53 0.00 146 .00 Sangstat Medical Corp 3,229.30 08/04/2003 2,13014 07/07/2003 1,09916 0.00 1,120.00 TLC Vision Corp 6,884.98 08/0412003 6,427.90 07/23/2003 45708 000 206.00 Align Technology Inc 2,45839 08/05/2003 1,030.64 03/13/2003 1,427.75 0.00 219.00 Align Technology Inc 2,613.53 08/05/2003 1,123.95 03/14/2003 1,489.58 0.00 238.00 AsiaInfo Holdings Inc 1,661 .49 08/0512003 2,160.18 07/01/2003 (498.69) 0.00 470.00 AsiaInfo Holdings Inc 3,281 .10 08/05/2003 4,33002 07/02/2003 (1,048 .92) 0.00 71 .00 Harris Interactive, Inc. 450.39 08/05/2003 347 .34 02/25/2003 103 .05 0.00 227.00 Harris Interactive, Inc. 1,439.97 08/05/2003 1,140.94 03/18/2003 29903 0.00 646.00 Navigant Consulting Co 8,76884 08/0512003 5,759.80 05/13/2003 3,009.0-4 000 69.00 Navigant Consulting Co 936.61 Oa/05/2003 601.36 05/20/2003 335 .25 0.00 1,187.00 PC - Tel Inc. 12,024 .45 08105f2OO3 10,698 .10 03f2lf2OO3 1,336.35 0.00 158 .00 PC - Tel Inc. 1,600.56 08/05/2003 1,452.75 03/25/2003 147 .81 0.00 95.00 PC - Tel Inc. 962.36 08/05/2003 874.23 03/26/2003 88 .13 0.00 87.00 TLC Vision Corp 521 .82 08/05/2003 499.31 07/23/2003 22 .51 0.00 195 .00 ValueCfick, Inc. 1,409.00 08/05/2003 842 .15 04/30/2003 566 .85 0.00 143 .00 ValueClick, Inc. 1,033.27 08/05/2003 680.79 05/19/2003 35248 0.00 374.00 ValueCtick, Inc. 2,702.39 Oa/05/2003 1,735.36 05/20/2003 967 .03 000 770.00 Wireless Facilities, Inc. 10,045 .48 08/05/2003 5,720.25 11/27/2002 4,325.23 0.00 663.00 Wireless Facilities, Inc. 8,649.55 08/05/2003 4,763.66 11/29/2002 3,885.89 0.00 366.00 Ahgn Technology Inc 4,01421 08106/2003 1,831 .13 03/13/2003 2,183.08 0.00 486.00 Asialafo Holdings Inc 3,188.25 08/0612003 3,526.37 06/25/2003 (338.12) 000 34.00 Asialnfo Holdings Inc 223.05 08/0612003 283.49 06127/2003 (60.44) 0.00 212.00 Asialnfo Holdings Inc 1,390.76 08/06/2003 1,924.20 07/01/2003 (53344) 0.00 875.00 Ask Jeeves Inc 13,267 .70 08/06/2003 3,996.69 01/24/2003 9,271 .01 0.00 364.00 Quanta Services Inc. 1,772.52 08/06f2003 2,904.97 07108/2003 (1,132.45) 000 105.00 TLC Vision Corp 608.49 08/06/2003 602.62 07/2312003 5.87 0.00 71 ~UuQur TU-Chn U-1 U- P-* e-s lac. 866.93 O&Fii2003 569.34 04101rZ003 297 .59 000

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427.00 Concur Technologies Inc 3,816.30 08107/2003 4,778.13 07/1112003 (961 .83) 0.00 599.00 D & K Healthcare Resources 8,02191 08/07/2003 6,285.07 12/0912002 1,73684 000 1,34000 D & K Healthcare Resources 17,945 .50 08/07/2003 14,084.07 l2/lOt2OO2 3,86143 000 366.00 TLC Vision Corp 1,972.35 0810812003 1,744.44 06/11/2003 22791 0.00 398.00 TLC Vision Corp 2,144.80 08/08/2003 2,025-82 07/1012003 118 .98 0.00 309.00 TLC Vision Corp 1,665.18 08/08/2003 1,577.38 07/11/2003 87 .80 0.00 1,965.00 TLC Vision Corp 10,589 .28 08108/2003 11,277 .52 07123/2003 (688 .24) 0.00 1,896.00 Ask Jeeves Inc 28,62484 08/1112003 8,660.25 01124/2003 19,964 .59 0.00 151.00 Corrections Corp of America 3,259.11 08/11/2003 3,317.32 05/05/2003 (58 .21) 0.00 379.00 D & K Healthcare Resources 5,217.63 Oat 1 1/2003 3,976.70 12/09/2002 1,240.93 0.00 212.00 Osteotech Inc 2,590.51 08/11/2003 1,837.87 04128/2003 75264 0.00 221 .00 PC - Tel Inc. 2,309.27 08/11/2003 1,95819 03/2012003 351 .08 000 19.00 PC - Tel Inc. 198 .53 08/11/2003 17108 03/2112003 27 .45 000 567 .00 Concur Technologies Inc. 5,557.87 08/1212003 3,226.97 04/03/2003 2,33090 0.00 188 .00 Concur Technologies Inc. 1,942.82 08/12/2003 1,103.47 04/07/2003 739 .35 000 141 .00 Corrections Corp of America 3,055.85 08/12/2003 3,09699 04128/2003 (41 .14) 000 161 .00 Corrections Corp of America 3,489.30 08/12/2003 3,537.01 05/05/2003 (47 .71) 0.00 152.00 D & K Healthcare Resources 2,164.49 Oa/12/2003 1,594.88 12/09/2002 569 .61 0.00 408.00 Osteotech Inc. 5,030.40 08/12/2003 3,263.18 04/21/2003 1,767.22 000 135 .00 Osteotech Inc 1,664.47 08/12/2003 1,170.34 04/28/2003 494.13 000 224.00 PC - Tel Inc. 2,323.26 08/12/2003 1,984.77 03/20/2003 33849 000 3,021.00 Reliant Resources Inc 11,589 .06 08/12/2003 8,574.31 12/27/2002 3,014.75 000 805 .00 SBA Communications 2,699.66 08/1212003 2,586.51 05/28/2003 113 .15 000 730.00 SBA Communications 2,448.14 08/1212003 2,428.38 07/03/2003 19.76 000 730.00 SBA Communications 2,448.14 08112/2003 2,560.47 07/07/2003 (112.33) 0.00 243 .00 D & K Healthcare Resources 3,661 .59 08/14/2003 2,549.70 12109/2002 1,111.89 0.00 226-00 NII Holdings Inc - CI B 12,779 .34 Oa/14/2003 4,169.63 02112/2003 8,609.71 0.00 463.00 PC - Tel Inc. 4,892.14 08/14/2003 4,102.46 03/20/2003 789.68 000 27-00 Childrens Place Retail 484.97 08/14/2003 553 .77 06130/2003 (68.80) 0.00 353-00 Cluldrens Place Retail 6,340.53 Oa/14/2003 7,835.19 07/08/2003 (1,494.66) 0.00 281.00 Childrens Place Retail 5,047.28 08/1412003 5,851.83 07/28/2003 (804.55) 0.00 422.00 Childreas Place Retail 7,579.90 0811412003 8,743.04 07/29/2003 (1,163 .14) 000 2,278-00 Reliant Resources Inc 8,801 .59 08/14/2003 5,867.36 12126/2002 2,93423 000 1,021.00 Reliant Resources Inc 3,944.87 08/1412003 2,897.84 12/27/2002 1,047.03 000 85 .00 Amerco 985.95 08/1412003 85832 07/21/2003 127 .63 0.00 142 .00 Amerco 1,647.12 08/1412003 1,475.21 07/22/2003 171 .91 000 76.00 Amerco 881 .56 08/1412003 865 .06 08/13/2003 16.50 0.00 174-00 D & K Healthcare Resources 2,606.42 08/1512003 1,825.71 12109/2002 780.71 0.00 104.00 Enterasys Network Inc 493.43 08/15/2003 194.50 02/18/2003 298 .93 0.00 2,409.00 Enterasys Network Inc 11,429 .54 08/15/2003 4,809.07 02119/2003 6,620.47 0.00 232-00 PC - Tel Inc. 2,44168 08/15/2003 2,055.66 03/20/2003 386.02 0.00 1,903.00 Quanta Services Inc. 12,978 .61 08/15/2003 9,407.33 05/08/2003 3,57128 0.00 Dfiehaus Capitd Management Friday January 23, 2004 16:57:39 Page 38 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057508 -- RHD - FOUNDATION- RECOVERY

Sale Purchase Realized Unamortized Bond Ouandtv Security Descrivtion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

641 .00 Quanta Services Inc. 4,371.67 08/15/2003 3,154.86 05/2012003 1,216.81 0.00 135 .00 Quanta Services Inc 920.71 08/15/2003 1,027.46 07/07/2003 (10675) 000 907.00 Quanta Services Inc. 6,18581 08/15/2003 7,238.49 07/08/2003 (1,052.68) 0.00 42.00 D & K Healthcare Resources 625 .40 08118/2003 43865 12/09/2002 186.75 0.00 645.00 D & K Healthcare Resources 9,604.36 08/18/2003 6,767.73 12tO9/2002 2,836.63 0.00 679.00 Aquila Inc. 1,528.97 08/18/2003 1,799.25 04/29/2003 (270.28) 0.00 1,585.00 Aquila hic. 3,569.09 08/18/2003 4,320.24 05/12t2003 (751 .15) 0.00 981 .00 PC - Tel Inc. 10,53171 08/18/2003 8,692.25 03/20/2003 1,83946 0.00 761 .00 Quanta Services Inc. 5,659.44 08/18/2003 3,745.47 05/20/2003 1,913.97 0.00 76.00 Amerco 832 .31 08/18/2003 767 .44 07/2112003 64.87 0.00 3,019.00 Aquila Inc. 6,559.48 08/19/2003 7,999.89 04/29/2003 (1,440.41) 0.00 911 .00 PC - Tel Inc. 9,786.50 08/1912003 8,072.01 03/2Ot2OO3 1,714.49 000 207 .00 PC - Tel Inc. 2,223.72 08/19/2003 1,810.65 0312412003 413 .07 0.00 3,022.00 SBA Communications 7,714.27 08/19/2003 9,709.84 05/28/2003 (1,995 .57) 0.00 46.00 Therasense Inc 617.29 08/19/2003 679 .66 07/28/2003 (62.37) 0.00 316 .00 Therasense Inc 4,240.52 08/19/2003 4,82020 07/3Of2OO3 (579.68) 0.00 388 .00 Therasense Inc 5,20671 08/19/2003 5,87432 07/31/2003 (667 .61) 0.00 76.00 Amerco 837.48 08119/2003 767.44 07/21/2003 70.04 0.00 755 .00 Dot Hill Systems Corp 11,701 .26 08/2012003 4,173.50 03/17/2003 7,527.76 0.00 7,547.00 Aquila Inc. 16,406.92 08120/2003 19,998 .39 04/29/2003 (3,591 .47) 0.00 2,663.00 Protal Software Inc. 6,993.71 08120/2003 7,534.51 07/15/2003 (540.80) 000 1,535.00 Protal Software Inc. 4,031.30 OW20/2003 4,882.82 07/28/2003 (851 .52) 000 2,406.00 Protal Software Inc. 6,318.77 08/20/2003 7,731 .89 07/29/2003 (1,413 .12) 000 3,717.00 Aquila Inc. 8,143.53 08t2l/2003 9,849.48 04/29/2003 (1,70595) 000 604.00 Frontier Airlines Inc 9,667.59 08/22/2003 5,787.04 0611812003 3,880.55 0.00 75.00 Matria Healthcare Inc. 1,199.94 08/22/2003 705.86 10/31/2002 494.08 0.00 321 .00 Priceline.corn Inc 11,564.22 08/2212003 6,085.83 05/0212003 5,478.39 0.00 130.00 Priceline.com Inc 4,683.33 08122/2003 2,655.59 05/13/2003 2,027.74 0.00 2,704.00 Protal Software Inc. 6,782.18 08/2212003 7,650.51 07/15/2003 (868 .33) 0.00 906.00 Concur Technologies Inc. 9,696.01 08/25/2003 5,156.31 04/03/2003 4,539.70 0.00 601 .00 Frontier Airlines Inc 9,133.26 08/25/2003 5,758.30 06118/2003 3,374.96 0.00 307 .00 Infospace .com 4,881.46 08/25/2003 3,362.26 02t 11/2003 1,519.20 0.00 294.00 Infospace .com 4,67476 08/25/2003 3,225.18 02/1412003 1,449.58 0.00 285 .00 Matria Healthcare Inc. 4,162.76 08/25/2003 2,658.71 10/28/2002 1,504.05 0.00 118 .00 Matria Healthcare Inc. 1,723.53 08/25/2003 1,11056 10131/2002 612.97 0.00 48.00 Mania Healthcare Inc. 701 .10 08/25/2003 448.01 01/0312003 253 .09 0.00 376 .00 Priceline .com. Inc 13,192 .02 08125/2003 7,128.57 05/02/2003 6,06345 0.00 2,987.00 Protal Software Inc. 7,236.82 08/25/2003 7,64492 07/14/2003 (408 .10) 0.00 3,111 .00 Protal Software Inc. 7,537.24 08/25/2003 8,802.05 07/1512003 (1,264.81) 0.00 457.00 Wireless Facilities, Inc. 6,717.81 08125/2003 3,283.54 11/29/2002 3,434.27 0.00 295.00 Wireless Facilities, Inc. 4,336.44 08/25/2003 2,033.52 12/18/2002 2,302.92 0.00 4,612.00 Prot-I Software In-c. 11,640 .09 08,126/2003 11,803 .95 0MV2003 f% 163 .861, 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

356.00 Master: Inc 3,314.45 08/27/2003 2,762.95 07125/2003 551 .50 0.00 414.00 Mastec Inc 3,85445 08127/2003 3,253.87 07128/2003 600.58 0.00 305 .00 Childrens Place Retail 5,495.84 08/27/2003 6,166.61 06/27/2003 (670 .77) 0.00 144.00 Childrens Place Retail 2,594.75 08t27/2003 2,95344 0650/2003 (35869) 000 153.00 Amerco 1,71362 08/27/2003 1,54498 07121/2003 168 .64 000 811 .00 VISX Incorporated 15,471 .12 08/28/2003 17,92756 07/23/2003 (2,45644) 000 284.00 VISX Incorporated 5,417.75 08/28t2003 6,614.87 07/31/2003 (1,197 .12) 0.00 30.00 Amerco 332.98 08/28t2003 302 .94 07121/2003 30.04 0.00 39100 Wireless Facilities, Inc. 5,487.54 08/28/2003 2,68617 12117/2002 2,801 .37 0.00 367 .00 Wireless Facilities, Inc. 5,150.71 08/28/2003 2,52984 12/1 &-2002 2,620.87 0.00 4.00 Amerco 45.66 08/29/2003 3894 07/18/2003 6.72 000 177 .00 Amerco 2,020.29 08/29/2003 1,787.33 07/21/2003 232.96 000 575 .00 Wireless Facilities, Inc. 7,630.06 08/29/2003 3,87594 1 1 f26t2002 3,754.22 0.00 51 .00 Wireless Facilities, Inc. 676.75 08/29/2003 35037 12/17/2002 326.38 0.00 57.00 Wireless Facilities, Inc. 75637 08/29/2003 37439 04/09/2003 381 .98 000 288 .00 Matria Healthcare Inc. 4,941 .15 09/02/2003 2,686.69 10/28/2002 2,254.46 0.00 115 .00 Matria Healthcare Inc 1,973.03 09/02/2003 1,023.27 10/29/2002 949.76 0.00 110.00 Matria Healthcare Inc. 1,887.25 09/02/2003 1,024.10 11/0612002 863 .15 0.00 666.00 Matria Healthcare Inc. 11,510 .80 09/03/2003 5,898.96 10/23/2002 5,61184 0.00 96.00 Matria Healthcare Inc. 1,65921 09/03/2003 85421 10/29/2002 80500 0.00 439.00 Matria Healthcare Inc. 7,58745 09/03/2003 3,71890 12/30/2002 3,86855 0.00 12000 Matria Healthcare Inc. 2,07402 09/03/2003 1,04822 12/31/2002 1,025.80 000 44.00 Mania Healthcare Inc. 76047 09/03/2003 38587 01/02/2003 374.60 0.00 70.00 Matria Healthcare Inc. 1,209.84 09/03/2003 57750 02/2712003 63234 0.00 318 .00 Varco International Inc 5,361 .13 09/03/2003 6,00467 03/04/2003 (643 .54) 0.00 549.00 Varco International Inc. 9,255.54 09/0312003 10,046 .54 03/1 W2003 (791 .00) 0.00 1,262.00 Varco International Inc. 21,275 .94 09/03/2003 23,08438 04128/2003 (1 .808 .44) 0.00 1,059.00 Varco International Inc. 17,853 .58 09/03/2003 20,327 .61 07/21/2003 (2,474 .03) 0.00 256.00 Mania Healthcare Inc. 4,45160 09/0412003 2,11200 02/27/2003 2,339.60 000 730.00 Quanta Services Inc. 6,631 .15 09/05/2003 3,51231 05/07/2003 3,118.84 0.00 776.00 Quanta Services Inc. 7,04900 09/0512003 3,819.30 05/20/2003 3,229.70 000 150.00 Corrections Corp of America 3,391 .78 09/08/2003 3,29468 04128/2003 97.10 0.00 361 .00 Corrections Corp of America 7,99563 09/09/2003 7,75089 04122/2003 244.74 000 180.00 Corrections Corp of America 3,986.74 09/09/2003 3,871 .03 0412312003 115 .71 0.00 210 .00 Corrections Corp of America 4,651 .20 09/09/2003 4,612.55 0412812003 38.65 000 448.00 Mobility Electronics Inc 3,349.00 09/0912003 3,24527 07/25/2003 103 .73 0.00 568.00 Mobility Electronics Inc 4,24606 09/09/2003 4,303.05 07/2812003 (56 .99) 0.00 443.00 Mobility Electronics Inc 3,311 .63 09/09/2003 3,476.97 07/29/2003 (165 .34) 0.00 136 .00 Mobility Electronics Inc 1,016.66 09/09/2003 1,084.98 0713012003 (68 .32) 0.00 1,187.00 Mobility Electronics Inc 8,87337 09/09/2003 9,125.54 08t27/2003 (252 .17) 0.00 376.00 Mobility Electronics Inc 2,810.77 09/09/2003 2,81647 Oa/28/2003 (570) 0.00 751-00 Mobility Electronics Inc 5,61407 09/09/2003 5,706.62 0812912003 (92 .55) 0.00 Driehaus Capital Management Friday January 23, 2004 16:57:39 Page 40 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057508 -- RHD - FOUNDATION - RECOVERY

Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Less Premium Discount) 103-00 Mobility Electronics Inc 769.97 09/09/2003 831 .26 09/02/2003 (61 .29) 0.00 569.00 Mobility Electronics Inc 4,253.53 09/09/2003 4,904.61 09/03/2003 (651 .08) 000 668-00 Wireless Facilities, Inc. 8,984.18 09/09/2003 4,296.24 02/2&'2003 4,687.94 000 844-00 Wireless Facilities, Inc. 11,351.26 09109/2003 5,543.65 04/09/2003 5,807.61 000 1,205-00 Key Energy Group 11,689.75 09/10/2003 12,512 .99 02/1112003 (823.24) 0.00 422.00 Mobility Electronics Inc 3,059.35 09/10/2003 3,056.93 07/25/2003 2.42 0.00 904.00 Maverick Tube Corp 14,42843 09/1012003 18,085 .97 05/23/2003 (3,657.54) 000 225-00 N11 Holdings Inc - C1 B 13,748.54 09/10/2003 4,151 .18 02/12/2003 9,597.36 000 1,305.00 Wireless Facilities, Inc. 17,083.73 0911(V2003 8,350.43 11/25/2002 8,733.30 0.00 133.00 Wireless Facilities, Inc. 1,741.10 09/10/2003 85539 02128/2003 885.71 0.00 178.00 Ditech Communications 1,426.35 09/11/2003 1,17425 08nO/2003 252.10 0.00 1,202.00 Ditech Commimications 9,631.89 09/11/2003 8,71642 09/03/2003 915.47 0.00 46400 Enterasys Network Inc 2,666.76 09/11/2003 83107 02/14/2003 1,835.69 000 1,411.00 Enterasys Network Inc 8,109.47 09/11/2003 2,63890 02118/2003 5,470.57 000 142-00 Mobility Electronics Enc 1,02661 09/11/2003 1,028.63 07/25/2003 (202) 000 539.00 Mastec: Inc 5,729.94 09/11/2003 4,129.39 07/24/2003 1,600.55 0.00 72.00 Mastec Inc 765.41 09/11/2003 558.80 07125/2003 20661 0.00 45400 Mastec Inc 4,826.33 09/11/2003 3,356.79 08/06t2003 1,469.54 0.00 356.00 Network Engines Inc 2,537.80 09/11/2003 2,037.67 08/19/2003 50013 0.00 901.00 Network Engines Inc 6,422.92 09/11/2003 5,410.14 08128/2003 1,01278 000 ..,761.00 Quanta Services Inc. 32,974.50 09/11/2003 18,09562 05/07/2003 14,87888 000 362-00 Wireless Facilities, Inc. 4,506.69 09/11/2003 2,316.37 11/25/2002 2,190.32 000 271-00 Wireless Facilities, Inc. 3,373.79 09/11/2003 1,686.79 02/25/2003 1,687.00 000 550-00 Wireless Facilities, Inc. 6,847.18 09/1112003 3,427.00 03/03/2003 3,420.18 000 151 .00 Wireless Facilities, Inc. 1,879.86 09/11/2003 929.86 03/04/2003 950.00 0.00 410.00 Wireless Facilities, Inc. 5,104.26 09/11/2003 2,589.44 03/05/2003 2,514.82 0.00 320.00 Maverick Tube Corp 4,826.65 09/12/2003 6,195.62 05/21/2003 (1,368.97) 000 43.00 Maverick Tube Corp 648.58 09/12/2003 860.28 05/23/2003 (211.70) 0.00 1,184-00 Quanta Services Inc. 10,383 .18 09/12/2003 5,696.68 05107/2003 4,686.50 0.00 401 .00 Amerco, 8,527.10 09/12/2003 2,856.28 06t25/2003 5,670.82 0.00 758.00 Amerco 16,118 .56 09/12/2003 5,920.97 07/01/2003 10,197 .59 0.00 312.00 Amerco 6,634.55 09/12/2003 2,471 .04 07/02/2003 4,163.51 0.00 543.00 Arnerco, 11,546.68 09/12/2003 5,285.62 07/18/2003 6,261 .06 0.00 186.00 Amerco 3,508.26 09/1512003 1,267.22 06/23/2003 2,241 .04 0.00 420.00 Amerco 7,921.88 09/15/2003 2,991 .62 06125/2003 4,93026 000 3,006-00 American Tower Corp. - Cl. A 31,240.78 09/17/2003 12,344 .69 1210212002 18,896 .09 0.00 170.00 D & K Healthcare Resources 2,685.04 09/17/2003 1,775.50 12109/2002 909.54 0.00 756-00 Frontier Airlines Inc 12,719.10 09/17/2003 7,243.39 06118/2003 5,475.71 0.00 753.00 Osteotech Inc. 8,435.01 09/1712003 10,090 .43 09/09/2003 (1,655.42) 000 149.00 Osteotech Inc. 1,669.08 09/17/2003 1,964.16 09/10/2003 (295.08) 0.00 225.00 0steotech Inc. 2,520.42 09/17/2003 2,999.12 09/1212003 (478.70) 0.00 611.00 nerasense Inne 8,374.94 09/1712003 9,027.65 0-712&12-003 (652.71% 0.00

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Sale Purchase Realized Unamortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

99.00 D & K Healthcare Resources 1,577.40 09/18/2003 1,033.97 12/09/2002 54343 000 254 .00 D & K Healthcare Resources 4,047.07 09/18/2003 2,63695 12/30/2002 1,410.12 0.00 375 .00 DSP Group Inc. 10,01023 09/18f2003 10,296.94 OW 1912003 (286 .71) 0.00 451 .00 DSP Group Inc. 12,038 .97 09/18/2003 12,691 .14 08120/2003 (652 .17) 000 2,220.00 Maverick Tube Corp 33,661 .38 09/18/2003 42,98209 05/21/2003 (9,320 .71) 000 30 .00 Maverick Tube Corp 45488 09/18/2003 537.59 07/17/2003 (82 .71) 0.00 500.00 Therasense Inc 6,720.48 09/18/2003 7,387.60 07/28/2003 (667 .12) 0.00 1 .00 Align Technology Inc 13 .83 09/19/2003 4.89 03/11/2003 8.94 0.00 657.00 Align Technology Inc 9,084.76 09/19/2003 3,28704 03/13/2003 5,797.72 0.00 225.00 D & K Healthcare Resources 3,603.36 09/19/2003 2,335.88 12130/2002 1,267.48 0.00 513.00 DSP Group Inc. 13,399.34 09/19/2003 14,086.21 08/19/2003 (686 .87) 000 600.00 Frontier Airlines Inc 9,985.98 09/19/2003 5,748.72 06/18/2003 4,237.26 000 680.00 Maverick Tube Corp 10,180.00 09/19/2003 12,185.46 07/17/2003 (2,005 .46) 0.00 167.00 Therasense Inc 2,227.99 09/19/2003 2,467.46 07128/2003 (239 .47) 0.00 239.00 Align Technology Inc 3,280.28 09/2212003 1,169.64 03/11/2003 2,110.64 0.00 4.00 Align Technology Inc 54.90 0912212003 19 .57 03/1=003 35.33 0.00 476.00 Ditech Communications 4,669.58 09/22/2003 2,877.42 08/12/2003 1,792.16 0.00 123 .00 Ditech Communications 1,206.63 09/22/2003 811 .42 08/2012003 395.21 0.00 23.00 DSP Group Inc. 610.29 09/22/2003 602.61 07/24/2003 7.68 0.00 352.00 DSP Group Inc 9,340.09 09/22/2003 9,43708 07/29/2003 (96 .99) 0.00 12 .00 DSP Group Inc. 318.41 09/2212003 329.50 08/19/2003 (11 .09) 000 1,499.00 Enterasys Network Inc 8,628.42 09/22/2003 2,68485 02/14/2003 5,943.57 000 194 .00 Childrens Place Retail 3,739.48 09122/2003 3,763.41 0612612003 (23 .93) 0.00 221 .00 Childrens Place Retail 4,259.93 09/2212003 4,46827 06/27/2003 (208 .34) 0.00 272.00 Therasense Inc 3,552.99 09/22J2003 4,018.85 07/28/2003 (465 .86) 0.00 191 .00 D & K Healthcare Resources 3,118.12 09/23/2003 1,982.90 12/30/2002 1,135.22 000 894.00 Extreme Networks Inc 6,242.41 09/23/2003 6,965.21 09/03/2003 (722 .80) 000 600.00 Extreme Networks Inc 4,189.54 09/23/2003 4,88634 09/0512003 (696 .80) 000 7.00 Extreme Networks Inc 48.88 09/23/2003 59.99 09/08/2003 (11 .11) 0.00 450.00 Priceline.corn Inc 13,419.22 09/23/2003 8,53154 05/02/2003 4,887.68 000 334.00 Childrens Place Retail 6,426.02 09/23/2003 6,479.27 0612612003 (53 .25) 0.00 190.00 Therasense Inc 2,513.75 09/23/2003 2,807.29 07/28/2003 (293 .54) 0.00 452.00 United Therapeutics 10,208 .12 09123/2003 9,46045 07/11/2003 747 .67 000 452.00 Align Technology Inc 5,871.88 09/2412003 2,211 .95 03/1212003 3,659.93 0.00 764.00 Audiocodes Ltd. 6,054.41 09/2412003 3,401 .55 0511612003 2,652.86 000 431 .00 Audiocodes Ltd. 3,415.51 09/24/2003 2,550.92 08/0612003 86459 0.00 108.00 Au(bocodes Ltd. 85586 09r24/2003 645.11 09/07/2003 210.75 0.00 206.00 Audiocodes Ltd. 1,632.47 09r24/2003 1,207.96 08/08/2003 424.51 0.00 49.00 Ditech Communications 477 .55 09/24/2003 202.58 04/28/2003 274.97 0.00 300.00 Ditech Communications 2,923.75 09/24/2003 1,262.49 04/30/2003 1,661 .26 0.00 96.00 Ditech Communications 935 .60 09/24/2003 404.10 05/0212003 531 .50 0.00 94.00 Ditech Communications 916.11 09/24/2003 392.81 05/05/2003 523 .30 0.00 Driehaus Capdal Management Friday January 23, 2004 16:57:39 Page 42 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057508 -- RHD - FOUNDATION- RECOVERY

Sale Purchase Realized Unarnortized Bond Ouantity Security Descrintion Proceeds Date cost Date Gain (- Loss Pren-durn Discount) 286 .00 Ditech Communications 2,787.31 09/24/2003 1,209.32 05/13/2003 1,577.99 000 66 .00 Ditech Communications 643.22 09/24/2003 398.97 08/12/2003 244.25 000 183 .00 D & K Healthcare Resources 2,860.15 09/2412003 1,899.85 125=002 96030 0.00 1,814-00 Extreme Networks Inc 12,07467 09/24/2003 14,132 .98 09/03/2003 (2,058 .31) 000 527.00 Therasense Inc 7,03564 09/24/2003 7,78653 07/28/2003 (75089) 0.00 718.00 ValueClick, Inc. 6,556.96 09/2412003 3,10083 04/3Ot2OO3 3,456.13 0.00 948-00 American Tower Corp. - Cl A 9,59083 09/25/2003 3,893-14 12/0212002 5,697.69 000 4,403.00 American Tower Corp. - Cl A 44,544 .75 09/2512003 17,394 .41 12/0312002 27,150 .34 000 460.00 Ditech Communications 4,045.69 09/25/2003 1,862.32 04/17/2003 2,183.37 0.00 512.00 Ditech Communications 4,503.03 09/25/2003 2,116.76 04/28/2003 2,38627 000 113-00 Ditech Communications 993.83 09/25/2003 460.45 05/12/2003 53338 000 336.00 D & K Healthcare Resources 5,235.23 09/25/2003 3,488.25 12130/2002 1,746.98 0.00 113.00 Therasense Inc 1,458.53 09/2512003 1,669-60 07/28/2003 (211 .07) 000 724.00 Time Warner Telecom 6,314.72 09/25/2003 6,082.32 06105/2003 23240 0.00 213.00 Time Warner Telecom 1,857.78 09/25/2003 1,537.52 07/08/2003 32026 000 247.00 ValueClick, Inc. 2,079.64 09/25/2003 1,052.95 04/29/2003 1,02669 000 135.00 ValueClick, Inc. 1,136.64 09/25/2003 583.02 04/30/2003 553.62 0.00 305.00 D & K Healthcare Resources 4,584.94 09/26/2003 3,166.42 12/30(2002 1,418.52 000 88.00 Kindred Healthcare Inc 3,154.22 09/26/2003 2,017.51 07/07/2003 1,136.71 0.00 235-00 Kindred Healthcare Inc 8,423.20 09/26/2003 5,511 .34 07/1112003 2,911 .86 000 301-00 Kindred Healthcare Inc 10,788 .87 09/26/2003 10,066 .40 09/16/2003 722.47 000 675-00 Osteotech Inc. 6,208.76 09/2612003 4,687.54 10/11/2002 1,521 .22 0.00 5.00 Ostootech Inc. 45.99 09/26/2003 32.52 10/14/2002 1347 000 329.00 Osteotech Inc. 3,026.20 09/2612003 2,319.45 12/17/2002 706.75 0.00 548 .00 0steotech Inc. 5,040.59 09/26/2003 3,819.56 12/18/2002 1,221 03 0.00 219.00 Osteotech Inc. 2,014.40 0912612003 1,535.19 12119/2002 479.21 0.00 164.00 0steotech Inc. 1,508.50 09/26/2003 1,173.14 01/10/2003 335.36 000 221-00 0steotech Inc. 2,032.79 09/2612003 1,599.00 01/13/2003 433 .79 000 338 .00 0steotech Inc. 3,108.98 09/26/2003 2,472.57 01/1412003 636.41 0.00 380.00 Ostootech Inc. 3,495.30 09/26/2003 2,789.20 01/15/2003 706.10 000 493-00 Osteotech Inc. 4,534.69 09/26/2003 3.943.01 04121/2003 591 .68 0.00 378 .00 Osteotech Inc. 3,476.91 09/2612003 4,982.91 09/10/2003 (1,506 .00) 000 305 .00 Therasense Inc 3,803.48 09/2612003 4,506.44 07/2812003 (70296) 000 112 .00 Time Warner Telecom 942.99 09/26t2003 808.46 07/08/2003 134.53 0.00 413.00 VaIueClick, Inc. 3,359.72 09/2612003 1,760.60 04/29/2003 1,599.12 000 1,202.00 Align Technology Inc 15,111 .19 09129/2003 5,780.41 03/10(2003 9,330.78 0.00 106 .00 Align Technology Inc 1,332.60 09/29/2003 518.73 03/1212003 813 .87 0.00 356.00 D & K Healthcare Resources 5,176.03 09/29/2003 3.695.89 12/3042002 1,480.14 0.00 563.00 DSP Group Inc. 13,869.19 09/29/2003 14,680.79 07122/2003 (811 .60) 0.00 188 .00 DSP Group Inc. 4,631.27 09/29/2003 4,737.58 07/23/2003 (106 .31) 0.00 540-00 DSP Group Inc. 13,302.60 09/29/2003 14,148.32 07/24/2003 (845 .72) 0.00 253.00 Oste-otech Inc. 2,2644 .72 009r.912003 I,M2q.21 i(ItOM-002 ~AW 0.00

0 40 0 9 0 0 0 0 0 0 0 0 0

Driehaus Capital Management Friday January 23, 2004 16:57:39 Page 43 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057508 -- RHD - FOUNDATION- RECOVERY

Sale Purchase Realized Unamortizcd Bond Ouantity Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount) 169.00 0steotech Inc. 1,51280 09/29/2003 1,020.34 10110/2002 492.46 0.00 585.00 Osteotech Inc. 5,236.61 09/29/2003 3,805.37 10tI412002 1,431.24 0.00 1,549.00 Childrens Place Retail 27,199 .15 09129/2003 30,049.05 06t26t2003 (2,849 .90) 000 148.00 Therasense Inc 1,819.01 09/29/2003 2,186.73 07/28/2003 (367.72) 0.00 156.00 T'herasense Inc 1,917.33 09/29/2003 2,244.18 08/05/2003 (326.85) 000 116.00 United Therapeutics 2,526.27 09/29/2003 2,427.90 07/11/2003 9837 0.00 924.00 Align Technology Inc 11,631 .22 09/30/2003 4,443.51 03/10/2003 7,187.71 000 124.00 D & K Healthcare Resources 1,746.95 09/30/2003 1,287.33 12/3=002 459.62 0.00 375.00 DSP Group Inc. 9,268.77 09/30/2003 9,449.96 07/23/2003 (181 .19) 0.00 3,038.00 Enterasys Network Inc 12,010.06 09130/2003 5,441.33 02/14/2003 6,568.73 0.00 286.00 Therasense Inc 3,601 14 09/3Ot2OO3 4,114.34 08/05/2003 (513.20) 0.00 73.00 11crasense Inc 91917 09/3Ot2OO3 1,036.18 0810612003 (117.01) 0.00 209.00 Therasense Inc 2,483.39 10/01/2003 2,966.59 08/0612003 (483.20) 0.00 598.00 Audiocodes Ltd. 5,066.31 10/03/2003 2,662.47 05/1612003 2,40384 0.00 69.00 Mastec Inc 821.56 lGt03/2003 495.40 07/22/2003 326.16 0.00 304.00 Mastec Inc 3,619.65 10t03/2003 2,197.95 07/2312003 1,421.70 0.00 151.00 Mastec Inc 1,797.92 10103/2003 1,116.46 08/06t2003 68146 000 452.00 Rambus, Inc. 12,209.16 10/0812003 8,215.82 lGtO2/2003 3,993.34 0.00 578.00 Xo Communications Inc 3,022.79 IM&2003 4,826.30 07/09/2003 (1,803 .51) 000 33.00 Xo Communications Inc 172.58 10/08/2003 260.70 07/10/2003 (88.12) 0.00 263.00 Kindred Healthcare Inc 10,175.73 IM912003 6,029.59 07/07/2003 4,146.14 0.00 898.00 Time Warner Telecom 10,370 .96 10/09/2003 6,482.12 07/08/2003 3,888.84 000 660.00 Xo Communications Inc 3,399.08 10/09/2003 5,075.25 06tO4/2OO3 (1,676.17) 0.00 256.00 Xo Communications Inc 1,31843 l0t09/2003 2,022.40 07/10/2003 (703.97) 000 302.00 Audiocodes Ltd. 2,906.61 10/13/2003 1,200.93 04/21/2003 1,705.68 0.00 313.00 AudiocDdes Ltd. 3,012.48 10/13/2003 1,393.57 05/16/2003 1,618.91 0.00 539.00 Time Warner Telecom 6,20467 10tI412003 3,89072 07/08/2003 2,31395 0.00 256.00 Mastec: Inc 3,283.07 1 Ot 1512003 1,838.00 07/2212003 1,445.07 0.00 537.00 Network Engines Inc 4,739.98 lGtl5/2003 4,272.21 10/0812003 46777 0.00 1,620.00 Time Warner Telecom 16,410 .63 10/15/2003 11,420 .51 06t 11/2003 4,990.12 0.00 68.00 Time Warner Telecom 688.84 10t1512003 490.85 07108/2003 197.99 0.00 164.00 Continental Airlines - Class B 3,239.66 10/1612003 2,857.70 09/03/2003 38196 0.00 299.00 Continental Airlines - Class B 5,906.46 10tI612003 5,634.24 10/0312003 272.22 000 130.00 Mastec hic 1,66196 10/1612003 933.36 07/22/2003 728.60 0.00 534.00 Network Engines Inc 5,185.53 10/1612003 3,05651 08/19/2003 2,129.02 000 5.00 Network Engines Inc 48.55 1 Ot 1 6t2003 39.78 10/08/2003 877 0.00 232.00 NII Holdings Inc - Cl B 15.884.06 10116(2003 4,28033 02/12t2OO3 11,603 .73 000 119.00 Transaction Sys Archtcts 2,215.67 10/ 1 6t2003 2,09930 09/16t2003 116.37 000 1,166.00 Time Warner Telecom 11,809 .04 1 Ot 16/2003 8,169.58 06/04/2003 3,63946 000 224.00 Tune Warner Telecom 2,268.63 10/1612003 1.579.13 06/11/2003 689.50 000 790.00 Continental Airlines - Class B 15,069 .64 1 Ot 17/2003 9,46080 05/02/2003 5,608.94 0.00 617.00 Continental Airlines - Class B 11,769 .58 10117/2003 7.24599 05/12/2003 4,523.59 0.00 Driehaus Capital Management Friday January 23, 2004 16:57:39 Page 44 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057508 -- RHD - FOUNDATION- RECOVERY

Sale Purchase Realized Unamortized Bond Ouantl Security Description Proceeds Date C-t Date Gain (- Loss) Premium Discount)

136-00 Continental Airlines - Class B 2,594.27 10/17/2003 2,36980 09/03/2003 22447 0.00 277.00 Mastec Inc 3,70137 lGtl7/2003 1,97615 07/08/2003 1,725.22 0.00 107 .00 Mastec Inc 1,429.77 l0(l7f2003 769.23 07/22f2003 661 .54 0.00 15400 Priceline.com Inc 4,733.07 lOtl7/2003 2,919.68 05/02/2003 1,813.39 0.00 866 .00 Pixelworks Inc 10,279.11 10117/2003 10,69510 IWIW2003 (415 .99) 000 917.00 Pixelworks Inc 10,884.46 10/17/2003 11,441 .87 10/13/2003 (55741) 000 57.00 Transaction Sys Archtcts 1,03165 lGtl7/2003 1,005.55 09/1612003 26 .10 000 693.00 ValueClick, Inc. 6,678.81 10/17/2003 2,954.23 04/29/2003 3,724.58 0.00 569.00 Concur Technologies Inc. 6,273.10 10/20/2003 3,23835 04/03/2003 3,034.75 000 154.00 Priceline.com Inc 4,535-09 I0f20f2003 2,919.69 05/0212003 1,615.40 0.00 1,987.00 Nxelworks Inc 22,353.88 10/20/2003 24,00256 1009/2003 (1,648.68) 0.00 227.00 PLxelworks Inc 2,553.77 10120/2003 2,803.45 10/10/2003 (249.68) 000 234-00 Transaction Sys Archtcts 4,259.06 10120/2003 4,12804 09/1612003 131 .02 0.00 231 .00 ValueC]iclc, Inc. 2,141 .24 1 W20/2003 984.74 0412912003 1,156.50 000 202-00 Concur Technologies Inc. 2,199.19 10/21/2003 1,149.64 04103/2003 1,049.55 0.00 1,148.00 Pixelworks Inc 12,96604 10(21/2003 13,867 .61 10/09/2003 (901 .57) 0.00 11-00 Transaction Sys Arcbtcts 205.93 10121/2003 159 .27 08/29/2003 46.66 0.00 41 .00 Transaction Sys Archtcts 767.55 10/21/2003 723.29 09/16/2003 44.26 0.00 484.00 Dot Hill Systems Corp 6,39648 10/22/2003 2,675.47 03/17/2003 3,721.01 000 1.060 .00 Dot Hill Systems Corp 14,00882 10/22/2003 5,85724 03/18/2003 8,151.58 000 615.00 Ljonbridge Technologies Inc. 5,500.60 10/2212003 4,491 .04 08/19/2003 1,009.56 0.00 261 .00 Pixelworks Inc 2,892.11 1 Ot22/2003 3,152.83 10/09/2003 (26072) 0.00 1,267.00 Harris Interactive, Inc. 8,635.10 1 Ot23/2003 5,652.21 02/18/2003 2,98289 0.00 797.00 Harris Interactive, Inc. 5,431 .87 10/23/2003 3,83485 02/2412003 1,597.02 000 1,490.00 Harris Interactive, Inc. 10,154 .93 10/23/2003 7,289.27 02125/2003 2,865.66 000 753 .00 Harris Interactive, Inc. 5,131 .99 1 Ot23/2003 5,706.01 09/12/2003 (574 .02) 0.00 2,589.00 Mobility Electronics Inc 21,541 .62 10123/2003 16,613 .35 07f23/2003 4,929.27 0.00 1,149.00 Mobility Electronics Inc 9,560.18 10/23/2003 7,911 .78 07124/2003 1,64840 000 655 .00 Mobility Electronics Inc 5,449-89 10123/2003 4,744.75 07/25/2003 705.14 0.00 6".00 Mobility Electronics Inc 5,358.36 1=312003 4,412.69 OM25/2003 945.67 0.00 108.00 Mobility Electronics Inc 898 .61 10/23/2003 740.56 08t2612003 158 05 0.00 2,104.00 Asialnfo Holdings Inc 14,744 .55 lOa4/2OO3 17,393 .56 09/0412003 (2,64901) 000 1,104.00 Harris Interactive, Inc. 7,229.19 10/2412003 4,925.05 02/1812003 2,30414 0.00 385 .00 Priceline.com Inc 10,318 .59 IWU2003 7,299.20 05/02f2003 3,019.39 0.00 319.00 Asialnfo Holdings Inc 2,184.49 10127/2003 2,21648 06r2412003 (3199) 0.00 1,836.00 Asialnfo Holdings Inc 12,572 .80 10/27/2003 13,321 .83 06r25/2003 (749 .03) 0.00 665 .00 Asialnfo Holdmgs Inc 4,553.87 lGf27r"3 4,705.27 06f26f2003 (151 .40) 0.00 899.00 Asialnfo Holdings Inc 6,156.29 10/27/2003 7,431.94 09/04/2003 (1,275 .65) 0.00 335 .00 Dycom Industries Inc. 6,99400 1 Ot27/2003 6,277.10 08/18/2003 716.90 0.00 130.00 Dycom Industries Inc. 2,714.09 10/27/2003 2,731 .77 08/2612003 (17 .68) 0.00 1,380.00 Harris Interactive, Inc. 8,815.43 1012712003 5,789.14 02/13/2003 3,026.29 0.00 3,690.00 Harris Interactive, Inc. 23,571 .70 10127/2003 15,734 .85 02/14/2003 7,R36.85 0.00

0 0 0 0 0 0 0 0 0 - 0- - 0- Driehaus Capital Management Friday January 23, 2004 16:57:39 Page 45 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057508 -- RHD - FOUNDATION - RECOVERY

Sale Purchase Realized Unamortized Bond Ouanti Security Description Proceeds Date Cost Date Gain (- Loss) Premium Discount)

1,177.00 Harris Interactive, Inc. 7,518.67 10/27/2003 5,250.71 02/1912003 2,267.96 000 464.00 Liveperson Inc 2,633.86 10/27/2003 2,098.99 10/08f2003 534.87 0.00 543.00 Mastec: Inc 6,893.27 10/27/2003 3,873 82 07/08/2003 3,019.45 0.00 1,159.00 ValueCfick, Inc. 10,13729 10/27/2003 4,940.76 0412912003 5,196.53 000 2,480.00 Asialnfo Holdings Inc 17,646 .10 10/28/2003 17,231 .54 06/24/2003 414.56 000 1,160.00 Harris Interactive, Inc. 7,236.19 10/28/2003 4,86623 02/13/2003 2,369.96 000 624.00 Uonbridge Technologies Inc. 5,30586 10(2812003 4,55676 08/19/2003 749.10 000 19.00 Uveperson Inc 10149 10/28/2003 85 .95 10/08/2003 15 .54 000 74.00 Mastec Inc 943.81 10/28/2003 527-92 07/08/2003 41589 000 324.00 Tumbleweed Communications 2,054.42 1012812003 1,76418 09/19/2003 29024 0.00 451 .00 Tumbleweed Communications 2,859.70 10/2812003 2,991 .80 10/08/2003 (132 .10) 000 738 .00 ValueClick, Inc. 6,54258 10/29/2003 3,146.06 04129/2003 3,396.52 0.00 504.00 Cypress Bioscience Inc. 5,80278 lOr29/2003 4,782.96 10/08/2003 1,019.82 000 120 .00 Cypress Bioscience Inc. 1,381 .61 10/29/2003 1,167.95 10109/2003 21366 000 313 .00 N11 Holdings Inc - C1 B 21,239 .87 10/29/2003 5,774.76 02/12/2003 15 .465 .11 0.00 770.00 Turnbleweed Communications 4,880.71 10/29/2003 4,192.65 09/19/2003 688.06 0.00 188 .00 ValueClick, Inc. 1,650.41 10/29/2003 801 .44 04129/2003 948 .97 0.00 105 .00 Corio Inc. 269.40 10/30/2003 389 .23 09/1812003 (11983) 0.00 794.00 Key Energy Group 6,471 .06 10/30/2003 8,141 .23 02/1112003 (1,670.17) 000 233 .00 ValueClick, Inc. 2,024.67 10/30/2003 993 .27 04/29/2003 1,031.40 0.00 104 .00 Cypress Bioscience Inc. 1,333.44 10/31/2003 885 .23 09/15/2003 44821 0.00 287 .00 Cypress Bioscience Inc. 3,679.80 10/31/2003 2,723.63 10/0812003 95617 000 4,359.00 ValueClick, Inc. 34,270 .12 10/31/2003 18,575 .23 04/2912003 15,694 .89 000 1,506.00 ValueClick, Inc. 11,940 .06 10/31/2003 6,42001 04129/2003 5,42005 000

GAINS ONLY Total 2,500,731-57

LOSSES ONLY Total (915,574Zl)

STOCK - Short Term 11,331,436.18 9,746,279 .21 1,585,157 .06

112 .00 PSS World Medical Inc 731 .70 11/0412002 921 .10 09/062001 (189.40) 000 21 .00 PSS World Medical Inc 137 .19 11/04/2002 171 16 09/1712001 (33.97) 000 15 .00 PSS World Medical Inc 95.72 11/05/2002 12226 09/17/2001 (2654) 000 88-00 Comstar Inc. 2,730.64 11/0812002 1,195.45 1050(2000 1,535.19 000 1,096.00 Kroll Inc 20,63705 12/10/2002 15,12666 10109/2001 5,510.39 000 2,080-00 Scientific Games Corp-A 11,713 .67 12/1012002 16,148 .93 12/0512001 (4,435-26) 000 526-00 Scientific Gaines Corp-A 3,016.07 1211112002 3,715.14 11/29/2001 (699.07) 0.00 1,319-00 Scientific Games Corp-A 7,563.11 12/11/2002 9,412.65 11/3012001 (1,849.54) 0.00 1,015.00 Scientific Games Corp-A 5,819.98 12111/2002 7.880.37 12/05/2001 (2,060-39) 000 1,981-00 Scientific Games Corp-A 11,655.94 12/17/2002 13,991 .80 11/29/2001 (2,335.96) 0.00 Driehaus Capital Management Friday January 23, 2004 16:57:39 Page 46 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06057508 -- RHD -FOUNDATION - RECOVERY

Sale Purchase Realized Unamortized Bond Ouantity Security Descrivtion Proceeds Date Cost Date Gain (- Loss) Premium Discount)

221 .00 Coinstar Inc. 4,651 .18 01/03/2003 3,002.22 10130/2000 1,648.96 0.00 558.00 Coinstar Inc. 13,956 .27 01/13/2003 7,580.26 10/3012000 6,376.01 000 669-00 Coinstar Inc. 16,133 .58 01/14/2003 9,088 16 1050t2000 7,045.42 0.00 756-00 Coinstar Inc. 17,72879 01/15/2003 10,270 .03 10/30t2000 7,45876 0.00 669-00 PetsMart Inc. 10,727 .75 01/15/2003 4,552.55 07/10f2001 6,175.20 0.00 1,128.00 PetsMart Inc. 18,030 .64 0 1/ 1 6r2003 7,676.04 07/10/2001 10,354 .60 000 134 .00 PetsMart Inc. 2,141 .94 01/1612003 884.40 07/11/2001 1,25754 0.00 1,063.00 PetsMart Inc. 16,991 .64 0 1/ 1 6t2003 7,122.10 07/12/2001 9,86954 000 1,320-00 Scientific Games Corp-A 12,790 .46 01/28/2003 15,747 .71 11/28/2001 (2,957.25) 0.00 68-00 Scientific Games Corp-A 374.89 01/28/2003 48028 11/29/2001 (105 .39) 000 68.00 Scientific Games Corp-A 374.89 01/28/2003 477.67 12104/2001 (10278) 000 501-00 Scientific Games Corp-A 2,614.28 02/10/2003 3,40069 11128/2001 (78641) 000 699-00 Scientific Games Corp-A 3,561.85 02/11/2003 4,744.68 11128/2001 (1,182.83) 0.00 504-00 Scientific Games Corp-A 2,568.66 0211212003 3,421 05 11/28/2001 (852.39) 000 1,233.00 Kroll Inc 21,396.22 02/27/2003 17,017.50 10109/2001 4,378.72 0.00 136 .00 Kroll Inc 2,404.04 02/28/2003 1,877.03 10/09/2001 527 .01 000 633.00 Kroll Inc 11,189.39 02/28/2003 8,382.19 10/19/2001 2,807.20 000 2,865-00 Scientific Games Corp-A 13,537.69 03/06/2003 17,927.15 11/27/2001 (4,38946) 0.00 963.00 Scientific Games Corp-A 4,550.37 03/06t2003 6,536.66 11/2812001 (1,986.29) 000 741 .00 Orbital Sciences Corp 3,913.69 03/1212003 5,179.15 03/11/2002 (1,265 .46) 0.00 333.00 Connetics Corp. 4,968.74 03/1 &12003 3,430.43 11/15/2001 1,538.31 0.00 424.00 Danka Business Sys . - Spon . ADR 1,479.93 03/2&12003 1,073.12 01/25/2002 40681 0.00 183.00 Danka Business Sys . - Spon . ADR 63010 03/31/2003 463 .16 0112512002 16694 0.00 258-00 Danka Business Sys . - Spon. ADR 854.35 04102/2003 652.98 01/25/2002 201 .37 0.00 359-00 Connetics Corp. 5,761.67 04/07/2003 3,69827 11/15/2001 2,063.40 0.00 307-00 Connetics; Corp. 4,948.61 04/08t2003 3,162.59 11/1512001 1,786.02 0.00 165-00 PXRE Group Lid 3,448.34 04/14/2003 3,498.00 03/0712002 (4966) 0.00 105 .00 PXRE Group Ud 2,194.40 04/14/2003 2,287.89 03/11/2002 (93 .49) 000 52 .00 PXRE Group I.Ad 1,070.80 04/15/2003 1,102.40 03/0712002 (31 .60) 0.00 18-00 PXRE Group Ltd 371 .01 04/16/2003 381 .60 03/07/2002 (10.59) 0.00 56.00 PXRE Group Lid 1,142.88 04/17/2003 1,187.20 03/07/2002 (44 .32) 0.00 350-00 PXRE Group Ltd 7,200.53 04/21/2003 7,42000 03/07/2002 (219 .47) 0.00 151 .00 PXRE Group Ltd 3,155.75 04122/2003 3,201 .20 03/07/2002 (45 .45) 0.00 319.00 Applied Signal Technology 4,002.21 05/02/2003 3,33569 10105/2001 666.52 0.00 10-00 Applied Signal Technology 125 .46 05/02/2003 110.22 10/08/2001 15.24 0.00 11 .00 United Online Inc 238.33 05/0212003 73.79 02/26/2002 16454 0.00 797.00 United Online Inc 17,267 .87 05/0212003 5,243.38 02127/2002 12,024.49 0.00 1,373.00 United Online Inc 29,747 .53 05/0212003 9,037.36 02/28/2002 20,710.17 0.00 38.00 Applied Signal Technology 470.56 05/05/2003 390.85 10103/2001 79.71 0.00 106 .00 Applied Signal Technology 1,312.61 05/05/2003 1,108.41 10/05/2001 204.20 0.00 280.00 Applied Signal Technology 3,369.81 05/06/2003 2,879.97 10/03/2001 489.84 0.00 378.00 Looksmart Lid 775 5A 05106120003 1,080.95 0151/2002 10 055.4 1 ) 0.0_n

0 0 0 0 0 0 0 0 0 0 Driehaus CapW Management Friday January 23, 2004 16:57:39 Page 47 Gains and Loss Reportfrom 1110112002 to 1013112003 Account: 06057508 -- RHD - FOUNDATION - RECOVERY

Sale Purchase Realized Unarnortized Bond Ouantity Security Description Proceeds Date cost Date Gain (- Loss) Premium Discount)

1,316.00 Looksmart Lid 2,70003 05/06/2003 3,631.22 02/01/2002 (931-19) 0.00 191.00 Looksmart Ltd 391 .87 05106/2003 50093 02/04/2002 (109.06) 0.00 1,585.00 Looksmart Lid 3,251.94 05/0612003 4,07369 02108/2002 (821 .75) 000 1,632.00 Looksmart Ltd 3,348.37 05/06/2003 4,48806 02/11/2002 (1,139 .69) 0.00 1.124.00 Looksmart Lid 2,30611 05/0612003 2,627.05 02/2012002 (320.94) 0.00 262-00 Applied Signal Technology 3,110.65 05/07/2003 2,69483 10/03/2001 415 .82 000 174.00 Applied Signal Technology 2,188.43 05/14/2003 1,789.69 10103/2001 398.74 0.00 200.00 Applied Signal Technology 2,358.89 05/15/2003 2,057.12 10/03/2001 301 .77 0.00 48 .00 Applied Signal Technology 56613 05/15/2003 487 .18 10/22/2001 7895 000 107 .00 Applied Signal Technology 1,269.29 05/1612003 1,07880 10/1212001 190.49 000 25 .00 Applied Signal Technology 296.56 05/1612003 251 .98 10/18/2001 44.58 0.00 168 .00 Applied Signal Technology 1,992.91 05/16/2003 1,705.12 10/2212001 287 .79 000 1,8(Y7 .00 Officernax Inc 9,589.49 05/16/2003 10,27244 03/0612002 (682 .95) 000 367 .00 Applied Signal Technology 4,270.46 05/19/2003 3,699.07 lGtl8/2001 571 .39 0.00 1,024.00 Orbital Sciences Corp 5,266.58 05/20/2003 5,656.51 04/04/2002 (389 .93) 0.00 445.00 Connetics Corp . 7,03614 05/21/2003 4,58034 11/16/2001 2,455.80 0.00 10-00 Orbital Sciences Corp 51.32 05/21/2003 55.24 04/04/2002 (392) 0.00 2,357.00 Connetics Corp . 38,355 .77 05/27/2003 23,644 .48 11/1412001 14,711 .29 0.00 807 .00 Connetics Corp. 13,132 .42 05/27/2003 8,306.37 11/1612001 4,826.05 0.00 11600 Officemax Inc 590.16 05/28/2003 659.44 03/0612002 (69.28) 000 91.00 Celadon Group Inc. 755.26 05/30/2003 1,054.91 05/28/2002 (299 .65) 000 288 .00 Cebdon Group Inc. 2,724.35 06105/2003 3,029.24 05/21/2002 (304 .89) 000 19 .00 Celadon Group Inc. 179 .73 06/05/2003 201 .40 05/22/2002 (21.67) 0.00 388 .00 Celadon Group Inc. 3,67031 06/05/2003 4,497.85 05/2812002 (827 .54) 000 320.00 Celadon Group Inc. 3,033.45 06tO6/2003 3,365.82 05/21/2002 (332 .37) 0.00 301 .00 Celadon Group Inc. 2,793.14 06109/2003 3,165.98 05/21/2002 (372.84) 0.00 263-00 Celadon Group Inc. 2,356.36 06/1012003 2,766.29 05/2112002 (409 .93) 000 552-00 Celadon Group Inc. 4,967.76 06112/2003 5,806.05 05/21/2002 (838 .29) 0.00 76.00 Celadon Group Inc. 683.97 06112/2003 788.73 05/23/2002 (104 .76) 0.00 289.00 Celadon Group Inc. 2,600.87 06/12/2003 3,035.95 06107/2002 (435 .08) 0.00 155 .00 Rural / Metro Corp 117 .58 06112/2003 631 .26 05130r2002 (51368) 000 873 .00 Rural / Metro Corp 662.22 0611212003 4,010.96 05/3112002 (3,34874) 0.00 1,574.00 Rural / Metro Corp 1,193.97 OW1212003 7,112.59 O6fO3/2002 (5,91862) 000 1,157.00 Rural / Metro Corp 877.65 06112/2003 4,928.47 0610412002 (4,050.82) 0.00 55.00 Applied Signal Technology 935.07 06/20/2003 55436 10/18/2001 38071 0.00 553.00 Celadon Group Inc. 4,976.76 06/20/2003 5,739.03 05/23/2002 (762 .27) 000 1,544.00 Rural / Metro Corp 1,54980 06/20/2003 6,288.17 05/3012002 (4,73837) 000 161.00 Celadon Group Inc. 1,44627 07/07/2003 1,670.86 05/23/2002 (22459) 000 410.00 Celadon Group Inc. 3,808.35 (17/08/2003 4,254.98 05123/2002 (446.63) 000 100 .00 Celadon Group Inc. 928.87 07/08/2003 1,020.82 06104/2002 (91 .95) 0.00 110.00 Rural / Metro Corp 140-00 09/1012003 447.99 05/30/2002 (307.99) 000 158-00 Rural / Metro Corp 201 .09 09/10/2003 605.99 06117/2002 (40490) 0.00 Driehaus Capital Management Friday January 23, 2004 16:57:39 Page 48 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057508 -- RHD - FOUNDATION- RECOVERY

Sale Purchase Realized Unamortized Bond Ouantity Security Descriution Proceeds Date Cost Date Gain (- Loss) Premium Discount)

75.00 Rural / Metro Corp 97 .80 09/12/2003 287.66 06117/2002 (189.86) 0.00 75.00 Rural / Metro Corp 92.24 09/15/2003 28766 06/17/2002 (195 .42) 0.00 1.00 Rural / Metro Corp 120 09/16/2003 3.74 06(12/2002 (254) 0.00 44.00 Rural / Metro Corp 5279 09/16/2003 168.76 06/17/2002 (11597) 0.00 7500 Rural / Metro Corp 94.49 09/17/2003 280.40 06/12/2002 (185 .91) 0.00 43.00 Rural / Metro Corp 49.59 09/18/2003 160.76 06/1212002 (111 .17) 0.00 77.00 Rural / Metro Corp 88.81 09/18/2003 281 .92 06tl4/2002 (193.11) 0.00 45.00 Rural / Metro Corp 53.99 09/19/2003 164 .76 0611412002 (110.77) 0.00 45.00 Rural / Metro Corp 53 .09 09122/2003 164 .76 W1412002 (111 .67) 0.00 65.00 Rural / Metro Corp 77.99 09/23/2003 237.98 06tl4t2002 (15999) 0.00 19 .00 Rural / Metro Corp 22.79 09/24/2003 69.56 06tl4/2002 (46 .77) 0.00 272.00 Rural / Metro Corp 304.32 09/2512003 975.36 06/13/2002 (671 .04) 0.00 2800 Rural / Metro Corp 31 .33 09/25/2003 102 .52 0611412002 (71 .19) 0.00 73.00 Rural I Metro Corp 87 59 09126t2003 255.53 06111/2002 (167 .94) 000 200 Rural / Metro Corp 2.40 09/26/2003 7.17 06tl3/2002 (4.77) 0.00 283.00 Rural / Metro Corp 328.72 09/29/2003 990 .62 06tl 1/2002 (661 .90) 0.00 158 .00 United Therapeutics 3,440.95 09/29/2003 2,596.60 09/11/2002 844.35 0.00 481.00 United Therapeutics 10,475 .30 09/29/2003 7,945.54 09/13/2002 2,529.76 0.00 505.00 Rural / Metro Corp 706.50 09/30/2003 1,660.84 0610512002 (954 .34) 000 948.00 Rural / Metro Corp 1,326.27 09/30/2003 3,318.42 06/11/2002 (1,992 .15) 0.00 36 .00 Rural / Metro Corp 50.39 lOtOl/2003 118 .40 06(0512002 (68 .01) 0.00 15900 Select Comfort Corp . 4,386.84 10101/2003 906 .28 09/16t2002 3,480.56 0.00 142 .00 Select Comfort Corp . 3,917.80 lOtOl/2003 854 .64 09/17/2002 3,063.16 000 218.00 Rural / Metro Corp 269.51 lQtO2/2003 716 .96 06105/2002 (447 .45) 0.00 750.00 Select Comfort Corp. 20,473 .28 l0t02/2003 4,274.93 09/16t2OO2 16,198.35 000 351.00 Rural / Metro Corp 45446 1 GtO3/2003 1,15436 06tO5/2002 (699 .90) 000 230.00 Rural / Metro Corp 297.80 10/03/2003 752 .13 06tO6t2OO2 (454 .33) 000 58.00 Rural I Metro Corp 81 .19 lOtO6/2003 18967 06tO6t2OO2 (108 .48) 0.00 87 .00 Rural I Metro Corp 112 .24 l0t07/2003 284.50 06106(2002 (172 .26) 0.00 581.00 Rural / Metro Corp 740.82 10/08/2003 1,89994 0606/2002 (1,15912) 0.00 174 .00 Rural / Metro Corp 223.80 10t09/2003 56900 06106/2002 (345 .20) 0.00 772.00 Select Comfort Corp . 21,807 .97 IW1412003 4,40033 09/1612002 17,40764 000 300.00 United Therapeutics 6,11929 1011612003 4,93026 09/11/2002 1,18903 0.00 148 .00 United Therapeutics 3,018.85 lQtl6t2003 2,404.53 09/1212002 61432 0.00 325.00 United Therapeutics 6,305.16 lGtl7/2003 5,280.21 09/12/2002 1,02495 0.00 386.00 United Therapeutics 7,46681 10/22/2003 6,271.26 09/1212002 1,19555 0.00 470.00 United Therapeutics 8,789.71 10129/2003 7,63600 09/12/2002 1,153.71 0.00

GAINS ONLY Total 178,826.86

LOSSES ONLY Total (64,683 .93)

0 0 0 0 0 0 0 Driehaus Capital Management Friday January 23, 2004 16:57:39 Page 49 Gains and Loss Reportfrom 1110112002 to 1013112003 Account. 06057508 -- RHD -FOUNDATION - RECOVERY

Sale Purchase Realized Unamortized. Bond Ouantity Security Descrintl2n Proceed bate Cost Date Gain (- Loss) Premium (- Discount)

STOCK - Long Term 582,856.65 468,713 .72 114,142.93

Grand Totals 11,914,292.86 10,214,992.93 1,699,299.99

v THE RICHARD H. DRIEHAUS FOUNDATION 36-3261347

STATEMENT /0

SCHEDULE OF CONTRIBUTIONS MADE FOR THE YEAR ENDED 10/31/03

FOUNDATION STATUS DATE NAME & ADDRESS OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION AMOUNT

1 CHICAGO ARCHITECTURE FOUNDATION PUBLIC CHARITY 11/612002 RECEPTION $2.22700 224 S. Michigan Ave Chicago 1160604-2507

2 CHICAGO SHAKESPEARE THEATER PUBLIC CHARITY 11/13/2002 FINAL INSTALLMENT FOR CAPITAL CAMPAIGN $50.000.00 Mr. Criss Henderson, Managing Director Chicago Shakespeare Theater 800 East Grand Ave On Navy Pier Chicago 1160611

3 MILLENIUM PARK INC. PUBLIC CHARITY 11/1312002 2ND YR INSTALLMENT FOR DOCUMENTARY $1 5.0D0 00 Mr. John Bryan PHOTOS Millenlum Park Inc NBC Tower, Suite 1400 455 N. City Front Plaza Chicago 1160611

4 SUPPORTING THE SPIRIT FOUNDATION PUBLIC CHARITY 11/21/2002 RECEPTION 025 EAST 11/21/02 $2,262 .50 The Apparel Center Suite 663 Chicago 1160654

5 HOTHOUSE PUBLIC CHARITY 12/12/2002 GENERAL OPERATING SUPPORT $20,00000 Ms . Marguerite Horberg HotHouse 31 East Balbo Chicago il 60605

6 HISTORIC CHICAGO BUNGALOW ASSOC PUBLIC CHARITY 12/12t2002 TO SECURE NATIONAL REGISTER OF HISTORIC $30.00000 Mr. Charles Shanabruch, Exec. Director PLACES DESIGNATION FOR 2 MODEL HISTORIC Historic Chicago Bungalow Association CHICAGO BUNGALOWS One North LaSalle, 12th Fl Chicago 1160602

7 SCRAP METTLE SOUL PUBLIC CHARITY 1211212002 SUPPORT TRAVELING SHOW $3,00000 Mr. Richard Geer, Artisitic Director Scrap Mettle SOUL 4600 N Magnolia. Suite C Chicago 11 60640

8 D C PRODUCTIONS PUBLIC CHARITY 1211212002 2ND PART OF RADIO DOCUMENTARY 'HOUSE OF $10.ODO .00 Mr. Dan Collison, Exec. Dir PAIN' D C Productions 2439 N Spaulding Ave Chicago IL 60647

9 RICHARD H DRIEHAUS MUSEUM EXPENDITURE 12112/2002 ARCHITECTURAL DRAWINGS FOR IMPROVEMENT $18.72000 Mr. Roger Guerin RESPONSIBILITY OF NICKERSON MANSION Driehaus Enterprise Mgmt. Inc 25 E Eno St Chicago 1160611

10 NAMI-KANIE COUNTY SOUTH PUBLIC CHARITY 12/12/2002 GENERAL OPERATING SUPPORT $15,00000 Mr . James A. McNish, President NAMI-Kane County South P.O. Box 541 Geneva IL 60134

11 OPPORTUNITY INTERNATIONAL PUBLIC CHARITY 12/12/2002 FOR TRUST BANKS WHERE DRIEHAUS $20,000.00 Mr . Mark Lutz,Sr VP, Marketing AWARD WINNERS LIVE IN AFRICA, ASIA Opportunity Intemational LATIN AMERICA AND EASTERN EUROPE P.O. Box 3695 Oak Brook, IL 60522

12 PRISON ACTION COMMITTEE PUBLIC CHARITY 1211 Z20D2 COMMUNITY RE-ENTRY PROJECT $15.000 .00 Ms . Barbara Echols, Exec. Dir. Prison Actlon Committee 655 East 79th St Chicago IL, 60619

0 THE RICHARD H DRIEHAUS FOUNDATION 36-3261347

STATEMENT 10

SCHEDULE OF CONTRIBUTIONS MADE FOR THE YEAR ENDED 10/31103 FOUNDATION STATUS DATE NAME & ADDRESS OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION AMOUNT

13 INSPIRATION CAFE PUBLIC CHARITY 1211=002 CAFE TOO EMPLOYMENT TRAINING PROGRAM 1.25.000 .00 Mr. Christopher D. Pearson, Exec. Dir. inspiration Caf6 4554 North Broadway, Suite 207 Chicago 11 60CAD

14 THE NEWBERRY LIBRARY PUBLIC CHARITY 12112/2002 SUPPORT ARCHIVIST FOR THE BARZEL $2,00000 Mr. Joseph Like, Director of Major & Planned Gifts COLLECTION The Newberry Library 60 West Walton St Go Chicago 1160610

15 NEXT THEATRE COMPANY PUBLIC CHARITY 12112/2002 SUPPORT NEW OUTREACH INITIATIVE $2,000.00 Mr. Jason Loewith. Artistic Director NEXT COMMUNITIES' Next Theatre Company 927 Noyes Street Evanston 1160201 .00 16 MUSIC THEATRE WORKSHOP PUBLIC CHARITY 1211212002 SUPPORT APPRENTICE COMPANY 120,000 IS Mr. Robert T. Carter, Exec . Dir Music Theatre Workshop 7359 N Greenview Chicago It 60626-1963

17 THE JOFFREY BALLET OF CHICAGO PUBLIC CHARITY 12/1=002 UNDERWRITE JOFFREY FAMILY $15.000.00 Mr Jon H. Teeuwissen, Exec. Dir NUTCRACKERLUNCHEON The Jolfrey Ballet of Chicago 70 East Lake Street, Suite 1300 Chicago, 1160601

18 CAPA CHICAGO THEATRE PUBLIC CHARITY 12/12/2002 DANCE AROUND THE WORLD PROGRAMS $15,000.00 Mr. Jim Hirsch. VP and Exec. Dir CAPA/Chicago Theatre 175 North State Street Chicago 1160601

19 NATIONAL TRUST FOR HISTORIC PRESERVATION PUBLIC CHARITY 12/1212002 1 ST PAYMENT FOR 2003 $75,00000 Mr. David Brown, Exec VP National Trust for Historic Preservation 1785 Massachusetts Avenue, NW Washington, DC 20036

20 ROSIE'S PLACE PUBLIC CHARITY 12ti 2/2002 GENERAL OPERATING SUPPORT $4 .000.00 Ms. Sue Marsh, Exec . Director Rosie's Place 8B9 Harrison Avenue Boston, MA 02118

21 TAX ASSISTANCE PROGRAM PUBLIC CHARITY 12/12/2002 A COMMUNITY OUTREACH COORDINATOR $28,000.00 Ms. Michele Glicken, Executive Director Tax Assistance Program 222 Merchandise Mart Plaza Chicago 11 60654

22 PARTNERS FOR SACRED PLACES PUBLIC CHARITY 12/12/2002 PROMOTION AND MARKETING OF A NEW $20.000.00 Ms. Diane Cohen CONGREGATION TRAINING INSTITUTE Mr . A Robert Jeager, Co-Directors Partners for Sacred Places 1700 Sansorn Street, Tenth F1 Philadelphia, PA 19103

23 MUSEUM OF CONTEMPORARY ART PUBLIC CHARITY 1211=002 PROGRAMMING ON ARCHITECTURE W0.000.00 Mr. Patrick McCusker, Director of Development Museum of Contemporary Art 220 East Chicago Avenue Chicago IL 60611

24 ENVIRONMENTAL LAW & POLICY CENTER PUBLIC CHARITY 12M 2/2002 SPRING 2003'CHICAGO GREEN BUILDING $10.000.00 Mr. Howard Learner, Executive Director SYMPOSIUM* Environmental Law & Policy Center 35 East Wacker Drive, Suite 1300 Chicago IL 60601

0 THE RICHARD H DRIEHAUS FOUNDATION 36-3261347

STATEMENT 10

SCHEDULE OF CONTRIBUTIONS MADE FOR THE YEAR ENDED 10131/03

FOUNDATION STATUS DATE NAME & ADDRESS OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION AMOUNT

25 CHICAGO PUBLIC RADIO PUBLIC CHARITY 12112/2002 FINAL GRANT PAYMENT $50,00000 Ms . Stephanie Borash Director of Corporate & Foundation Relations Chicago Public Radio Navy Pier 848 East Grand Ave Chicago 1160611-3462

26 NATIONAL CENTER ON POVERTY LAW PUBLIC CHARITY 12116/2002 NCPL 2002 DINNER SPONSOR $4,400 .00 Mr. Jim Bennett. Marketing Director National Center on Poverty Law 111 N Wabash, Suits 500 Chicago 1160602

27 MUJERES LATINAS EN ACCION PUBLIC CHARITY 1214/2002 BENEFIT DINNER $3,000 .00 Mans S Pesqueira Muleres Ladnas En Accion 1823 West 17th St Chicago 1160608

28 DEPAUL UNIVERSITY SCHOOL OF MUSIC PUBLIC CHARITY 12117/2002 COVER BALANCE OF GUANG YUE SU'S TUITION $3,000.00 Mr. Ross Beacraft, Director of Admissions 804 West Beldon Street Chicago 11 60614

29 GUANG YLIE SU PRIVATE INDIVIDUAL 12JI7/2DO2 GRANT TO HELP W/ MUSIC STUDIES $2,500 DD 3014 South Lloyd, Apt I R Chicago, 1160608

30 PARKWAYS FOUNDATION PUBLIC CHARITY 12t23/2002 MATCHING GRANT $25,DD0.00 Ms . Veronica Jaeger Development & Communications Officer Parkways Foundation 541 N. Fairbanks Court, Suite 850 Chicago 1160611

31 DONORS FORUM OF CHICAGO PUBLIC CHARITY 1/14/2003 LEADERSHIP FUND $10,00000 Ms Valerie S. Lies, President & CEO Donors Forum of Chicago 208 S LaSalle, Suite 740 Chicago 11 60604-1006

32 CHICAGO BOTANIC GARDEN PUBLIC CHARITY 1/14/2003 EXHIBITION' IN SEARCH OF PARADISE, S5,000.00 Ms Melissa Matterson, Sr. Development Officer CENTURIES OF GREAT GARDEN DESIGN Chicago Botanic Garden 1000 Lake Cook Road Glenco 1160022

33 CHICAGO CULTURAL CENTER FOUNDATION PUBLIC CHARITY 1/14/2003 ARTISTS AT WORK FORUMS $4.00000 Ms . Barbara Koenen, Project Manager Chicago Cultural Center Foundation 78 East Washington Street Chicago 1160602

34 REDMOON THEATRE PUBLIC CHARITY 1/14=3 GENERAL OPERATING SUPPORT $10.000.00 Gillian Darlow, Managing Director Redmoon Theatre 2936 N Southport Avenue Chicago 1160657

35 LINKS HALL PUBLIC CHARITY 1/14/2003 GENERAL OPERATING SUPPORT S10,00000 Ms . Pam Unnell, Managing Director Links Hall 3435 North Sheffield Chicago IL 60657

36 CHICAGO ARCHITECTURE FOUNDATION PUBLIC CHARITY 1/15=3 FOR THE THINK TANK $2.323.W Ms . Lynn Osmond, President & CEO Chicago Architecture Foundation 224 South Michigan Ave Chicago 1160604-2500

0 THE RICHARD H. DRIEHAUS FOUNDATION 36-3261347

STATEMENT 10

SCHEDULE OF CONTRIBUTIONS MADE FOR _THE YEAR ENDED 10/31/03

FOUNDATION STATUS DATE NAME & ADDRESS OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION AMOUNT

37 THE INNER VOICE INC PUBLIC CHARITY 1/15/2003 UNDERWRITE FUNDRAISING EVENT !M000 00 Mr. Brady Harden, Jr . President The Inner Voice Inc 1621 West Walnut Street Chicago 1160612

38 ART FOR INDIGENOUS SURVIVAL PUBLIC CHARITY 1/1512003 CONSULTING HELP TO BUILD A WORKABLE $12.000.00 Ms. Shirley Fre McConahay, Chairman of the Board BUSINESS MODEL Art for Indigenous Survival 3205 Tipi Lane Durham, NC 27705

39 NEIGHBORHOOD HOUSING SERVICES OF CHICAGO. INC PUBLIC CHARITY 1/1512003 HELP UNDERWRITE AWARDS DINNER $5,000.00 Mr. Bruce A- Gonschall, Exec. Director Neighborhood Housing Services of Chicago, Inc 1279 N. Milivaukee Ave, Sth F) Chicago 1160622

40 CENTER FOR ECONOMIC PROGRESS PUBLIC CHARITY 1/15/2003 SUPPORT OF THE TAX COUNSELING PROJECT $15,000.00 Mr. David Marzahl, Executive Director Center for Economic Progress 29 East Madison. Suite 910 Chicago 1160602

41 MS. FOUNDATION FOR WOMEN PUBLIC CHARITY 1/1512003 *TAKE OUR DAUGHTERS AND SONS TO WORK' $5,00000 Ms Mane Wilson, President DAY Ms. Foundation for Women 120 Wall Street, 33rd FI New York, NY 10005

42 INSTITUTE OF WOMEN TODAY PUBLIC CHARITY 1/1512003 REPAIRS AT *MARGARETS HOUSE' $110,000.0D Sister Ruth MutchLer, FISM, Exec Director Inslitute of Women Today 7315 South Hale Ave Chicago 1160621

43 BOTTOMLESS CLOSET PUBLIC CHARITY 111512003 GENERAL OPERATING SUPPORT $10,000.00 Ms. Susan Van Veen . Exec. Director Bottomless Closet 445 N Wells. Suite 301 Chicago 1160610

44 AUSTIN PEOPLES ACTION CENTER PUBLIC CHARITY 1/15/2003 OPERATING SUPPORT $5,000.00 Ms. Cynthia Williams, President & CEO Austin Peoples Action Center 5125 W Chicago Ave Chicago 1160651

45 CHICAGO ARCHITECTURAL FOUNDATION PUBLIC CHARITY 1/lW003 FOR THE EXHIBITION OF $10.000.00 Ms. Colleen McElligot, VP of Development "CENTRAL MICHIGAN AVE' Chicago Architecture Foundation 224 South Michigan Ave Chicago 11 60604

46 DESIGN CORPS PUBLIC CHARITY 1/15/2003 ENHANCE PUBLICATION "GOOD DEEDS, $5,500.00 Mr. Bryan WI, Executive Director GOOD DESIGN' Design Corps 302 Jefferson Street, Suite 250 Raleigh NC 27605

47 DENALI INITIATIVE PUBLIC CHARITY 1)23/2D03 GRANTSUPPORT $25.000.00 Ms. Donna Herron, Program Manager Denali Initiative 1650 Metropolitan Street, Suite 250 Pittsburgh, PA 15233

48 FAMILY RESCUE PUBLIC CHARITY 1/29/2003 UNDERWRITE BENEFIT $4,0D0.00 Ms. Mary F. Morten Morten Group 5210 N Wayne, Fir 2 Chicago. IL 6D640

0 THE RICHARD H. DRIEHAUS FOUNDATION 36-3261347

STATEMENT- 10

SCHEDULE OF CONTRIBUTIONS MADE FOR THE YEAR ENDED 10/31/03

FOUNDATION STATUS DATE NAME & ADDRESS OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION -AMOUNT

49 COMMUNITY MEDIA WORKSHOP PUBLIC CHARITY 2126/2003 UNDERWRITE STUDS TERKEL AWARDS BENEFIT $1 .0D0 00 Mr Thom Clark, President Community Media Workshop at Columbia College 600 S. Michigan Chicago 1160605

50 ALIVE, LTD PUBLIC CHARITY 3/32= DEVELOP WEBSITE FOR INFO ON $22.500 .00 Ms. PatnLial K. Novick 'RESTORATIVE SPACES* FOR HOSPITALS Alive, LTD 530 Westwood Drive Michigan City, IN 46360

51 THE THREE ARTS CLUB OF CHICAGO PUBLIC CHARITY 3/3/2003 SPONSOR THE ANNUAL BENEFIT $5 .000.00 Ms. Laurel Upkin. Board of Directors The Three Arts Club of Chicago 1300 North Dearborn Parkway Chicago 1160610

52 ILILINOIS ARTS ALLIANCE FOUNDATION PUBLIC CHARITY 3/312003 2003 ILLINOIS ARTS LEGEND AWARDS $9.85000 Ms. Alene Valkanas, Executive Director Illinois Arts ARiance Foundation 200 North Michicagn, Suite 4134 Chicago 1160601

53 AMERICAN COMPOSERS FORUM, CHICAGO CHAPTER PUBLIC CHARITY 3/X2003 PARTNERSHIP PROJECT W/ CHICAGO $3.000.00 Ms. Paula Glannini, Director, Chicago Chapter PARK DISTRICT American Composers Forum, Chicago Chapter 41 0 South Michigan Ave, Suite 943 Chicago 1160606

54 306090, INC. PUBLIC CHARITY 3/31`2003 GENERAL OPERATING SUPPORT $5.00000 Mr . Jonathan Solomon, editor 306090, Inc. 59 Jefferson Street Brooklyn, NY 11206

55 DEBORAH'S PLACE PUBLIC CHARITY 3/312003 JOB TRAINING & EDUCATIONAL PROGRAM $10.000.00 Sister Patricia Crowley, Executive Director Deborah's Place 2822 W. Jackson Street Chicago, IL 60612

56 WOMEN'S BUSINESS DEVELOPMENT CENTER PUBLIC CHARITY 313/2003 SUPPORT ADVOCACY PROGRAM IN 2003 $10,00000 Ms. Hody M. Ratner, Co-President Women's Business Development Center 8 South Michigan, Suite 400 Chicago IL 60603

57 COMMUNITY RENEWAL SOCIETY PUBLIC CHARITY 3/312003 THE CHICAGO REPORTER $30.00000 Ms. Alysia Tate. Editor and Publisher Community Renewal Society 332 S. Michigan Ave. Suite 500 Chicago. IL 60604-4394

58 GROWING HOME, INC PUBLIC CHARITY 3/=003 MARKETING PLAN $15.000 .00 Mr. Harry Rhodes, Executive Director Growing Home, Inc 1325 South Wabash Ave., Second Floor Chicago IL 60605

59 THE CARA PROGRAM PUBLIC CHARITY 3IN2003 GENERAL OPERATING SUPPORT $30,000.00 Mr. Eric P. Weinheimer, President The Cara Program 122 South Desplaines Chicago IL 60661

60 CHICAGO PUBLIC ART GROUP PUBLIC CHARITY 3W2003 GENERAL OPERATING SUPPORT $20,0D0 00 Mr. Jon Pounds. Executive Director Chicago Public Art Group 1259 South Wabash Chicago 1160605

0 THE RICHARD H. DRIEHAUS FOUNDATION 36-3261347

STATEMENT 10

SCHEDULE OF CONTRIBUTIONS MADE FOR THE YEAR ENDED 10/31/03

FOUNDATION STATUS DATE NAME & ADDRESS OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION AMOUNT

61 ARTSPACE PROJECTS, INC PUBLIC CHARITY 313/2003 THE CHICAGO WORKING CAPITAL FUND $25,00000 Ms . Wendy Holmes, VP of Resource Development Artspace Projects, Inc 250 Third Ave. N. Suite 500 Minneapolis, MN 55401

62 FRIENDS OF THE PARKS PUBLIC CHARITY 3/312003 SUPPORT PUBLIC TRUST RESEARCH AND $30,000.00 Ms. Erma Tranter, President POLICY PROGRAM Friends of the Parks 55 East Washington, Suite 1911 Chicago IL 60602-2174

63 BPI PUBLIC CHARITY 3/312003 UNDERWRITE BOOK RELEASE RECEPTION $3,000.00 Ms . Cindy S. Moelis BPI 25 East Washington, Suits 1515 Chicago IL 60602

64 THE YOUNG WOMEWS LEADERSHIP CHARTER PUBLIC CHARITY X312003 GENERAL OPERATING SUPPORT $15,00000 SCHOOL OF CHICAGO Ms. Joan Hall, President The Young Women's Leadership Charter School of Chicago 34 10 South State Street Chicago IL 60616

65 WOMEN'S LEADERSHIP FUND PUBLIC CHARITY 3/312003 YOUTH OUTREACH PROGRAMS $25,000.00 Ms. Mane C. Wilson WomerVs Leadership Fund 110 Wall Street, 2nd FI Now York, NY 10005

66 LOWER EAST SIDE TENEMENT MUSEUM PUBLIC CHARITY 3/3/2003 DEVELOP"IRISH FAMILY APARTMENT* S25,000.00 Ms. Ruth J. Abram, President Lower East Side Tenement Museum 66 Afllen Street New York, NY 100002

67 SOCIETY OF ARCHITECTURAL HISTORIANS PUBLIC CHARITY 313/2003 SERIES ON BUILDINGS OF THE UNITED STATES $7,500.00 Ms . Pauline Saliga, Executive Director Society of Architectural Historians 136S North Astor Street Chicago IL 60610-2144

68 PERFORMING ARTS CHICAGO PUBLIC CHARITY 302003 PAC/EDGE PROGRAM AND FESTIVAL $20.000 00 Ms . Susan Upman, Executive Director Performing Arts Chicago 40 410 South Michigan Ave, Suite 911 Chicago IL 60605

69 STILL POINT THEATRE COLLECTIVE PUBLIC CHARITY 313(2003 STILL POINT THEATRE COLLECTIVE $10,000.00 Ms . Use Wagner, Executive Director rJo St. Paul Lutheran Church 1337 W Ohio Chicago IL 60622

70 THE LIRA DANCERS PUBLIC CHARITY 3(3(2003 GENREAL OPERATING SUPPORT $4,00000 Ms . Lucyna Migala. Artistic Director The Ura Dancers 6525 N. Sheridan Rd. SKY #905 Chicago IL 60626

71 FOREGROUND THEATRE COMPANY PUBLIC CHARITY 313(2003 GENERAL OPERATING SUPPORT $2,500.00 Mr. Allen Jeffrey Rein Artistic Director Foreground Theatre Company P.O. Box 543369 Chicago IL 60654

72 FLUSH PUPPY PRODUCTIONS PUBLIC CHARITY X312003 GENERAL OPERATING SUPPORT $5,000.00 Ms . Joanle Schultz, Artistic Director Flush Puppy Productions 1539 N Bell Chicago IL 60622

1 0 THE RICHARD H. DRIEHAUS FOUNDATION 36-3261347

STATEMENT 10

SCHEDULE OF CONTRIBUTIONS MADE FOR THE YEAR ENDED 10131/03

FOUNDATION STATUS DATE NAME & ADDRESS OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION AMOUNT

73 MS. SANDRA BINION PRIVATE INDIVIDUAL 313/2003 `THIRTEEN NIGHTS' IN THE PAC/EDGE FESTIVAL $4,000.00 5045 N. Glenwood # 3 Chicago IL 60640

74 THE JOURNEYMEN THEATRE COMPANY PUBLIC CHARITY 3=2003 GENERAL OPERATING SUPPORT $7 .00000 Mr . Frank Pullen, Artistic Director The Journeymen Theatre Company 3915 North Janssen Chicago IL 60613

75 NAKED EYE THEATRE COMPANY PUBLIC CHAIRTY 3/312003 GENERAL OPERATING SUPPORT $10,00000 Mr . Jeremy Cohen, Artistic Director Naked Eye Theatre Company 1454 W. Hollywood, 3rd FI Chicago, IL 60660

76 JAN ERKERT & DANCERS PUBLIC CHARITY 313/2003 PRODUCTION OF CONCERT, 'MEMOIRS IN $5 .000.00 Ms. Jan Erkert. Artistic Director STOMPING GROUNDS' Jan Erkert & Dancers 1320 N. Hoyne Chicago, IL 60622

77 MA'AT PRODUCTION ASSOC OF AFRIKAN PUBLIC CHARITY 31312003 GENERAL OPERATING SUPPORT $7,50000 CENTER THEATRE Mr. Larry Nance, Director of Development MWat Production Assoc. of Afnkan Center Theatre P.O. Box 10039 Chicago IL 60610-0039

78 KALAPRIYA FOUNDATION PUBLIC CHARITY 313/2003 GENERAL OPERATING SUPPORT $7.500 .00 Ms . Pranfta Jain Kalapinya Foundation 824 High Ridge Court Chicago IL 60561

79 THEATRE BUILDING CHICAGO PUBLIC CHARITY 3/3t2003 MUSICAL DEVELOPMENT PROGRAM $7.500.00 Ms. Joan MazzoneIll, Executive Director Theatre Building Chicago 1225 West Belmont Ave Chicago IL 60657-3205

80 BUFFALO THEATRE ENSEMBLE PUBLIC CHARITY 3/3/2003 MARKETING PURPOSES $7,50000 Ms. Connie Canaday Howard, Artistic Director Buffalo Theatre Ensemble 425 Fawell Boulevard Glen Ellyn, IL 60137

81 TRIARTS, INCORPORATED PUBLIC CHARITY 3/3t2003 GENERAL OPERATING SUPPORT $6,00000 Mr. Brian Loevner, Executive Director TrIArts, Incorporated 5050 North Albany Avenue, #2 Chicago. IL 60625

82 WING & GROOVE THEATRE COMPANY PUBLIC CHARITY 31312003 MARKETING PURPOSES $6.000.00 Ms . Megan Powell, Co-Ardstic Director Wing & Groove Theatre Cimpany Fiat iron Arts Building, 1935 1/2 W. North Ave Chicago IL 60622

83 THE ARTISTIC HOME ACTING ENSEMBLE PUBLIC CHARITY 3/3(2003 GENERAL OPERATING SUPPORT $6.000.00 Mr. John Mossman, Assoc. Artistic Director The Artistic Home Acting Ensemble 1420 W. Irving Park Rd . Chicago IL 60613

84 SCHADENFREUDE THEATRE COMPANY PUBLIC CHARITY 3/3/2003 GENERAL OPERATING SUPPORT $6,00000 Sandy Marshall, Artistic Director Schadenfreuda Theatre Company 4907 N. Hermitage # 3 Chicago IL 60640

9 THE RICHARD H. DRIEHAUS FOUNDATION 36-3261347

STATEMENT 10

SCHEDULE OF CONTRIBUTIONS MADE FOR THE YEAR ENDED 10131103 FOUNDATION STATUS DATE NAME & ADDRESS OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION AMOU14T

85 THE PICCOLO THEATRE PUBLIC CHARITY 313/2003 GENERAL OPERATINNG SUPPORT 4.6,00000 Mr. John Szostek, Executive Director The Piccolo Theatre P.O . Box 6013 Evanston, IL 60204

86 SERENDIPITY THEATRE CO. PUBLIC CHARITY 31312003 GENERAL OPERATING SUPPORT $5,00000 Adam Belcore, Artistic Director Serendipity Theatre Co 1658 N. Milwaukee Ave, #242 Chicago IL 60647

87 TERRAPIN THEATRE PUBLIC CHARITY 3/3/2003 PRODUCTION OF'THE GO* $4,000 .00 Ms. Susie Griffith, Managing Director Terrapin Theatre 444 N. Wabash Ave, Suite 41 0 Chicago IL 60611

88 TEATRO LUNA PUBLIC CHARITY 31312003 GENERAL OPERATING SUPPORT $4,00000 Coya Paz Brownngg, Co-founder 0 Teatro Luna 556 W 1 8th Street Chicago IL 60616

89 WALKABOUT THEATRE CO PUBLIC CHARITY 31312003 GENERAL OPERATING SUPPORT $4,000.00 Ms . Karen Schmidt, Artistic Director Walkabout Theatre Co. 3241 N. Ravenswood Chicago IL 60657 41 90 SOUTHWEST WOMEN WORKING TOGETHER PUBLIC CHARITY 3/1112003 SUSTAINER SPONSORSHIP $1 .500.00 Shelley Hughly, Executive Director Southwest Women Working Together 4051 W 63rd St Chicago 1160629

91 ILLINOIS CAUCUS FOR ADOLESCENT HEALTH PUBLIC CHARITY 3112/2003 GENERAL OPERATING SUPPORT $5.000.00 Ms . Jobie Peterson Illinois Caucus tor Adolescent Health 0 28 East Jackson, Suite 710 Chicago IL 60604

92 COUNCIL ON FOUNDATIONS PUBLIC CHARITY 3112/2003 MEMBERSHIP DUES $4.890.00 Council on Foundations 1828 L Street, NW, Suite 300 Washington, DC 20036 0 93 GUANG YUE SU PRIVATE INDIVIDUAL 3/19/2003 GRANT $2.500.00 3014 South Lloyd, Apt 1 R Chicago 1160608

94 THE HYPOCRITES PUBLIC CHARITY 3/19/2003 MEMBERSHIP SPONSOR TO $475.00 Ms . Mechelle Moe, Executive Director THEATRE COMMUNICATION GROUP P.O. Box 578542 Chicago 1160657

95 CHICAGO PUBLIC RADIO PUBLIC CHARITY 312012003 3RD ANNUAL 3RD COAST INTL AUDIO FESTIVAL $50,000.00 Mr. Torey Malatia, President and GM Chicago Public Radio Navy Pier 848 East Grand Avenue Chicago 11, 60611-3462

96 ILLINOIS INSTITUTE OF TECHNOLOGY PUBLIC CHARITY 3120/2003 HERMAN DRIEHAUS SCHOLARSHIP $51.000-00 * Ms . Donna V. Robertson, Dean FINAL INSTALLMENT College of Architecture Illinois Institute of Technology S.R . Crown Haft 3360 South State Street Chicago 1160616-3793

I *I THE RICHARD H. DRIEHAUS FOUNDATION 36-3261347

STATEMENT - 1-0

SCHEDULE OF CONTRIBUTIONS MADE FOR THE YEAR ENDED 10/31/03

FOUNDATION STATUS DATE NAME & ADDRESS OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION AMOUNT

97 DONORS FORUM OF CHICAGO PUBLIC CHARITY 3/26/2003 MEMBERSHIP RENEWAL $6,44600 208 South LaSalle Street Suite 735 Chicago 11 60604-1006

98 WOMEN & PHILANTHROPY PUBLIC CHARITY 3/31/2003 SUPPORT REGIONAL MEETING $1,50000 Ms. Use N Croney, Dir of Development & Finance Women & Philanthropy 11 S 118th St NW Suite 202 Washington, DC 20036

99 MARIN CORP PRODUCTIONS EXPENDITURE 4/11/2003 SUPPORT FILM DOCUMENTARIES $60,00000 Ms. Carol Madn REPSONSIBILITY Mann Corp Productions 2042 N Fremont. Suite 100 Chicago. 11 60614

100 UNIVERSITY OF ILLINOIS FOUNDATION PUBLIC CHARITY 4/4/2003 GRANT FOR RECEPTION $2,26750 Jane M Saks University of Illinois Foundation 303 Jefferson Hall, 929 WHarrison St Chicago IL 60607-7038

101 NATIONAL TRUST FOR HISTORIC PRESERVATION PUBLIC CHARITY 4/4/2003 2ND INSTALLMENT FOR 2003 $75.00000 Mr. David J Brown, Exec. Director National Trust for Historic Preservation 1785 Massachusetts Avenue, NW Washington, DC 20036

102 GOVERNMENT ASSISTANCE PROGRAM PUBLIC CHARITY 4/4/2003 PUBLIC SERVICE INNOVATOR AWARDS $35.000.00 Ms . Mary Ann Sullivan, Exec . Director Government Assistance Program at Depaul Univ 243 S. Wabash. Suite 9200 Chicago 11 60604

103 RICHARD H DRIEHAUS MUSEUM EXPENDITURE 4/4/2003 NICKERSON MANSION ACQUISITION & RESTORATION $500.00000 Mr. Roger Guerin RESPONSIBILITY Richard H Driehaus Museum 25 E. Ede Street Chicago 1160611

104 NORTH LAWNDALE SMALL GRANTS PUBLIC CHARITY 4/14/2003 SPONSOR THE AFRICAN GARDEN $2,50000 HUMAN DEVELOPMENT CORPORATION Ms . Valerie F. Leonard, Executive Director North Lawndale Small Grants Human Development Corp 1859 South Pulaski Road Chicago, 1160623

105 THE TRUST FOR PUBLIC LAND PUBLIC CHARITY 4/14/2003 SUPPORT UR13AN PARKS PROGRAM $10.000.00 Ms . Christine Slattery, Director Trust for Public Land Midwest Region 2610 University Avenue, Suite 300 St. Paul. MN 55114

106 ARTISTIC CIRCLES PUBLIC CHARITY 4/14/2003 CATHOLIC & MUSLIM PARTICIPATION $10,000.00 Ms . Ann B. Feldman, Founder & Artistic Director IN 'THE TIES THAT BIND' Artistic Circles P.O. Box 3447 Chicago 11 60654-0447

107 ST. LEONARD'S MINISTRIES PUBLIC CHARITY 4/24/2003 SUPPORT THE MICHAEL BARLOW $26,00000 Mr . Robert Dougherty, Exec . Director EMPLOYMENT CENTER St. Leonards Ministries 2100 West Warren Boulevard Chicago 1160612-2310

108 THE EVANSTON PUBLIC ART COMMITTEE PUBLIC CHARITY 4124/2003 SUPPORT FRIENDS OF THE ARTS FUND ss.00000 Ms. Laura Savlano, Chair The Evanston Pubic Art Committee Noyes Cultural Arts Center 927 Noyes Street Evanston. IL 60201 THE RICHARD H. DRIEHAUS FOUNDATION 36-3261347 10

STATEMENT ~O

SCHEDULE OF CONTRIBUTIONS MADE FOR THE YEAR ENDED 10131/03

FOUNDATION STATUS DATE NAME & ADDRESS OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION AMOUNT

109 COLUMBIA COLLEGE CHICAGO. THE DANCE CENTER PUBLIC CHARITY 4/24/2003 FOR THE SUBSIDIZED THEATRE RENTAL $7,500 .00 Mr. Phil Reynolds, Executive Director PROGRAM Columbia College Chicago, The Dance Center 1306 South Michigan Ave Chicago 1160605

110 ALBANY PARK THEATER PROJECT PUBLIC CHARITY 4124/2003 GENERAL OPERATING SUPPORT $7 .500 .00 Mr. David Feiner, Co-Director AJbany Park Theater Project P.O . Box 257995 Chicago 1160625 ill NEIGHBORHOOD WRITNG ALLIANCE PUBLIC CHARITY 4/24/2003 2003 ISSUE OF 'JOURNAL OF ORDINARY .1110,000.00 Ms. Came Spitler, Executive Director THOUGHT- Neighborhood Writing Alliance 1313 East 60th Street Chicago 1160637

11 2 THE CHICAGO THEATRE COMPANY PUBLIC CHARITY 4/24/2003 RE-MOUNT'CUT FLOWERS* AT THE NOBLE $5,000.00 Mr. William Davis, Managing Director FOOL THEATRE The Chicago Theatre Company 500 East 67th Street Chicago It 60637

113 3-D CHICAGO PUBLIC CHARITY 4/24/2003 PIER WALK 2003 $5,000 .00 Mr. Joseph Tabet 3-D Chicago Navy Pier Walk 600 East Grand Avenue Chicago 1160611

11 4 MELISSA THODOS &DANCERS PUBLIC CHARITY 4/24/2003 3RD ANNUAL FESTIVAL OF NEW DANCES $5 .00000 Ms. Melissa Thodos 1430 West George Street Chicago 1160657

115 HUBBARD STREET DANCE CHICAGO PUBLIC CHARITY 4/24/2003 2003 NATIONAL CHOREOGRAPHIC COMPETITION $5,000.00 Ms . Gail Kalver, Executive Director Hubbard Street Dance Chicago 11 47 West Jackson Boulevard Chicago 1160607-2905

116 THE THEATRE SCHOOL PUBLIC CHARITY 4/25/2003 GRANTS AWARDS FOR GALA BENEFIT S5,000.00 Ms . Sondra A Healy Donated table to school The Theatre School, DePaul University clo PJH & Associates, Inc 205 West Wacker Drive Suite 1400 Chicago 1160606

117 WOMEN EMPLOYED PUBLIC CHARITY 4/25/2003 30TH ANNIVERSARY LUNCHEON $2,291 .05 11 1 N. Wabash, Suite 1300 Chicago 1160602

118 GRANTMAKERS IN THE ARTS PUBLIC CHARITY 4/2612003 GENERAL OPERATING EXPENSES $1,00D.00 Ms . Anne Focke, Executive Director Grantmakers in the Arts 604 West Geier Street Seatfle, WA 98119-3253

119 EDUCATED EATS PUBLIC CHARITY 4/25/2003 GENERAL OPERATING SUPPORT $3,000.00 Ms. Rona Heifetz. Founder & Exec Dir Educated Eats 3411 West Diversey, Suite 10 Chicago 1160647

120 INTERFAITH YOUTH CORE PUBLIC CHARITY 511/2003 SUPPORT BENEFIT BY PROVIDING FOOD $1,000.00 Dr. Eboo Patel AND ENTERAINMENT COSTS Interfailth Youth Core 1111 N Wells, Suite 500 Chicago 1160610

a THE RICHAR I H. DRIEHAUS FOUNDATION 36-3261347

STATEMENT 10

SCHEDULE OF CONTRIBUTIONS MADE FOR THE YEAR ENDED 10131/03 FOUNDATION STATUS DATE NAME & ADDRESS OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION AMOUNT

121 ST. GEORGE VILLAGE BOTANICAL GARDEN PUBLIC CHARITY 511412003 STABILIZATION OF HISTORIC RUINS ON THE $15.00000 Ms . Wendy Ramos, President GROUNDS OF THE GARDEN SL George Village Botanical Garden 127 Estate St . George Fredenksted, St. Croix U.S . Virgin Island, 00840

122 NATIONAL TRUST FOR HISTORIC PRESERVATION PUBLIC CHARITY 5/14/2003 UNDERWRITE DINNER $10,00000 Megan Showers National Trust for Historic Preservation 1785 Massachucetts N.W Washington DC 20036

123 CHICAGO SYMPHONY ORCHESTRA PUBLIC CHARITY 5121/2003 RECEPTION $1 .613.50 Jennifer Moma Chicago Symphony Orchestra 220 S. MIchlgan Ave Chicago 11 60604

124 FRIENDS OF THE LAKEVIEW POST OFFICE MURAL PUBLIC CHARITY 5/22/2003 RESTORATION OF MURAL $1 .000.00 Mr. David Baldwin, President Friends of the Lakeview Post Office Mural 3708 N. Janssen Ave Chicago 1160613

125 HOTHOUSE PUBLIC CHARITY 5/27/2003 RE-OPENING EFFORTS $1,00000 Marguerite Horberg, Exec. Director Hothouse 31 E Balbo Chicago 1160611

126 VANALYN GREEN PRIVATE INDIVIDUAL 6/512003 ARTIST AWARD WINNER $10,00000 6816 N Greenviewe Chicago 1160626

127 LAURA LETINSKY PRIVATE INDIVIDUAL 6/512003 ARTIST AWARD WINNER $10,000.00 do University of Chicago Midway Studios 6016 S. Ingleside Chicago 1160637

128 DAN PETERMAN PRIVATE INDIVIDUAL 615/2003 ARTIST AWARD WINNER $10.ODOOO 6106 S. Kimbark Avenue . Apt. #2 Chicago 1160637

129 SCHOOL SISTERS OF NOTRE DAME PUBLIC CHARITY 6111/2003 SUPPORT ENDOWMENT FUND $200.00000 Sister Jean Phelan, Vicar, Chicago Province School Sisters of Notre Dame 1431 South Euclid Ave Berwyn, IL 60402

130 THE TRUSTEES OF ST . MARGARET OF SCOTLAND PUBLIC CHARITY 6111/2003 GENERAL OPERATING SUPPORT $200,000.00 School & Church Support Trust St. Margaret of Scotland 91137 South Throop Street Chicago 1160643

1311 OUNCE OF PREVENTION FUND PUBLIC CHARITY 6/1112003 PREVENTION FUND FOR CAMPAIGN FOR $20,00000 Ms. Harriet Mayer, President EARY CHILDHOOD INNOVATIONS Ounce of Prevention 122 South Michigan Ave, Suite 2050 Chicago 1160603-6198

132 CHICAGO CULTURAL CENTER FOUNDATION PUBLIC CHARITY 6111/2003 EXHIBITION"IN SEARCH OF PARADISE" $15,000.00 Ms. Lois Weisberg, Commissioner City of Chicago Dept of Cultural Affairs 78 East Washington Chicago 1160602

40 THE RICHARD H DRIEHAUS FOUNDATION 36-3261347

STATEMENT-10

SCHEDULE OF CONTRIBUTIONS MADE FOR THE YEAR ENDED 10/31/03

FOUNDATION STATUS DATE NAME & ADDRESS OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION AMOUNT

133 CHICAGO ARCHITECTURAL CLUB PUBLIC CHARITY 6/12t2003 CHICAGO PRIZE COMPETITION $6,87000 Ms. Helen Slade Chicago Architectural Club c/o I-Space Gallery 230 West Superior Street Chicago 1160602

134 MUSIC THEATRE WORKSHOP PUBLIC CHARITY 6/19/2003 RECEPTION 0 25 EAST $2,33200 Laurie Hess Music Theatre Workshop 7359 N Greenview Chicago 1160626

135 NATIONAL TRUST FOR HISTORIC PRESERVATION PUBLIC CHARITY 6/23/2003 3rd PAYMENT FOR 2003 S75 .00000 Mr . David J . Brown, Executive Director National Trust for Historic Preservation 17115 Massachusetts Avenue, NW Washington. DC 20036

136 LOWER EAST SIDE TENEMENT MUSEUM PUBLIC CHARITY 612312003 CONSULTING GRANT $2 .50000 Amory Hope, Dev. Director Lower East Side Tenement Museum 91 Orchard Street Now York. NY 10002

137 ALIVE LTD PUBLIC CHARITY 6/23t2003 WOMEN ALIVE, A LEGACY OF SOCIAL JUSTICE $1 .00000 C/O Jean Hunt Alive Lid 4DO East Randolph Street # 3910 Chicago 1160601

138 NATIONAL CENTER ON POVERTY LAW PUBLIC CHARITY 7/212003 GENERAL OPERATING SUPPORT $20,00000 Ms. Dory Rand National Center on Poverty Law 111 North Wabash Avenue Suite 500 Chicago Ilk 60602

139 EMERGENCY FUND FOR NEEDY PEOPLE PUBLIC CHARITY 702003 $15000 BASIC NEEDSI$5000 FOR $20.000.00 Ms. Valerie Thompson, Executive Director BRIDGES OF INDEPENDENCE Emergency Fund for Needy People 208 S. LaSalle Street, Suite 776 Chicago 11 60604

140 LAWYERS FOR THE CREATIVE ARTS PUBLIC CHARITY 7/212003 GENERAL OPERATING SUPPORT $15,00000 Mr . William E Rattner, Exec. Dir Lawyers for the Creative Arts 213 West Institute Place, Suite 401 Chicago IL 60610-3194

141 ARTS & BUSINESS COUNCIL OF CHICAGO PUBLIC CHARITY 7/2/2003 GENERAL OPERATING SUPPORT $20,00000 Ms . Joan Gunzberg, Exec . Dir Arts & Business Council of Chicago 70 E Lake Street, Suite 500 Chicago 1160601-5907 0 142 SUPPORTING THE SPIRIT FOUNDATION PUBLIC CHARITY 7/212003 GENERAL OPERATING SUPPORT S20,00000 Ms . Maren Nelson, Exec. Dir Supporting the Spitit Foundation The Merchandise Mart P .O. Box S4-3756 Chicago 1160664-0756

143 NATL TRUST FOR HISTORIC PRESERVATIOWMIDWEST (PUBLIC CHARITY 702003 CONTINUE RESEARCH THROUGH IMPLEMENTATION S33,000 .00 Mr. Royce A . Yeater, Midwest Dir. PLANNING ON PRESERVATION AND AFFORDABLE National Trust for Historic Preservation/Midwest Office HOUSING 53 West Jackson, Suite 3SO Chicago 11 60604

144 GLIESSNER HOUSE MUSEUM PUBLIC CHARITY 7/2/2003 GENERAL OPERATING SUPPORT S15 .000 .00 Ms. Codna Carusl, Director & Curator Glessnor House Museum 1800 South Pralne Ave Chicago IL 60616

0 THE RICHARD H. DRIEHAUS FOUNDATION 36-3261347

STATEMENT .~O

SCHEDULE OF CONTRIBUTIONS MADE FOR THE YEAR ENDED 10/31/03

FOUNDATION STATUS DATE NAME & ADDRESS OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION AMOUNT

145 ARCHEWORKS PUBLIC CHARITY 7/212003 GENERAL OPERATING SUPPORT $15.000.00 Ms. Eva Maddox, Co-Founder, Program Director Archeworks 625 North Kingsbury Chicago 1160610

146 THE SPRINGBOARD FOUNDATION PUBLIC CHARITY 712/2003 CONTRIBUTE TO EFFORTS TO CHICAGO'S $10,000.00 Mr. Ray Crosland YOUTH AND PHILANTHROPY The Chicago Community Trust 111 East Wacker, Suite 1400 Chicago 1160601

147 ST. LEONARD'S MINISTRIES PUBLIC CHARITY 71=003 ASSIST IN PROCESS TO OBTAIN IL STATE BOARD $5,000 .00 Mr. Robert Dougherty, Exec . Dir APPROVAL FOR THE MICHAEL BARLOW CENTER SL Leonard's Ministries 21 00 West Warren Boulevard Chicago 1160612-2310

148 LANDMARK PRESERVATION COUNCIL OF IL PUBLIC CHARITY 713/2003 PRODUCTION OF ARTIST AWARDS RHDF 2003 $39,51125 David A BahIman Landmark Preservation Council of 11 53 W Jackson Boulevard, Suite 752 Chicago 11 60604

149 ANCHOR GRAPHICS PUBLIC CHARITY 7/1612003 GENERAL OPERATING SUPPORT $25.00000 Ms . Manlyn Propp, Member, Bd of Trustees Anchor Graphics 119 W Hubbard St, SW Chicago 1160610

150 CHICAGO DRAMATISTS PUBLIC CHARITY 7/1612003 GENERAL OPERATING SUPPORT $10,00000 Ms . Deborah Stewart. Dev. Director Chicago Dramatists 1105 W Chicago Ave Chicago 1160622-5702

151 HEDWIGDANCES PUBLIC CHARITY 7/16/2003 GENERAL OPERATING SUPPORT $15.000 .00 Mr. Jay Thompson, Managing Director Hedwig Dances 2936 North Southport, Suite 21 0 Chicago 1160657

152 LIVE BAIT THEATRICAL COMPANY PUBLIC CHARITY 7/16/2003 GENERAL OPERATING SUPPORT $10,0D0.00 Ms. Sharon Evans, Artistic Director Live Bait Theatrics] Company 3914 North Clark Street Chicago IL 60613

153 PEGASUS PLAYERS PUBLIC CHARITY 7/16/2003 GENERAL OPERATING SUPPRORT $25,000.00 Ms. Arlene J. Crewdson, Exec . Director Pegasus Players 11 45 West Wilson Ave Chicago 11 60640

154 YOUNG CHICAGO AUTHORS PUBLIC CHARITY 7/16/2003 GENERAL OPERATING SUPPORT $15,0G0.00 Ms. Julie Parson-Nesbitt Young Chicago Authors 2049 W. Division Chicago 1160622

155 MUSIC AND DANCE THEATRE PUBLIC CHARITY 7/17/2003 GENERAL OPERATING SUPPORT $5,000.00 Ms. Jennifer Avery 203 North LaSalle Street Me"a Ine Level Chicago IL 6D601

156 NATIONAL BUILDING MUSEUM PUBLIC CHARITY 713012003 MEMBERSHIP IN 'THE CORINTHIANS' $2 .500 .00 Ms. Julia A Wolf-Rodda, VP for Development National Building Museum 401 F Street NW Washington, DC 20001

0 THE RICHARD H. DRIEHAUS FOUNDATION 36-3261347 0

STATEMENT 10

SCHEDULE OF CONTRIBUTIONS MADE FOR THE YEAR ENDED 10/31/03

FOUNDATION STATUS DATE NAME & ADDRESS OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION AMOUNT

157 LOCAL INITIATIVES SUPPORT CORP PUBLIC CHARITY 7/30/2003 CHGO NEIGHBORHOOD DEVELP. AWARDS & Ms. Rose Bradshaw RHDF AWARDS FOR ARCHITECTURAL EXCELLENCE $41,781 .12 Local Initiatives Support Corp Chicago I North LaSalle Street, 12 th Floor Chicago IL 60602

158 PUBLIC ALLIES CHICAGO PUBLIC CHARITY 7/30/2003 GENERAL OPERATING SUPPORT $1 O,ODO.00 Ms. Bethann Hester, Executive Director Public AJIies Chicago 200 N. Michigan Ave. Suite 520 Chicago 1160601-5909 0

159 GUANG YUE SU PRIVATE INDIVIDUAL 712212003 ADDITIONAL GRANT INSTALLMENT S2,5W.00 3014 South Uoyd Apt IR Chicago 1160608

160 CHICAGO TOURISM FUND PUBLIC CHARITY 817/2003 SUPPORT ADVANCING CHICAGO PROJECT $700.00 Lois Weisberg, Commissioner 0 Chicago Cultural Center 78 East Washington Street Chicago 1160602

161 NATIONAL CENTER FOR FAMILY PHILANTHROPY PUBLICL CHARITY 11712003 CONTRIBUTION $1,00000 1818 N Street, NW, Suite 300 Washinton DC 20036

162 THE ART INSTITUTE OF CHICAGO PUBLIC CHARITY 8118/2003 2ND PYMT OF GRANT FOR CHICAGO ARCHITECTURE $33,000.00 Ms . Marth Thorne, Assoc. Curator of Architecture 'ISSUES FOR THE NEW MILLENNIUM" The Art Institute of Chicago 11 1 South Michigan Ave Chicago It 6OW3-61 10

163 THE EXPERIMENTAL STATION PUBLIC CHARITY 8/18/2003 GENERAL OPERATING SUPPORT $12.50000 Mr. Dan Peterman The Experimental Station 6100 South Blackstone Ave Chicago IL 60637

164 CHICAGO TOURISM FUND PUBLIC CHARITY 8/20/2003 CONSULTING FEES FOR ADVANCING CHICAGO PROJE- $2,712 .50 Ms. Julie S. Burros, Dir. Of Cultural Planning Chicago Cultural Center 78 E Washington Street Chicago 1160602

165 ASSUMPTION COLLEGE PUBLIC CHARITY 8/21/2003 HELP MEET CHALLENGE GRANT $15,000-00 Mr. Michael L Reynolds Assumption College 500 Salisbury Street Worcester, MA 01609-1296

166 MS. LAURA S. WASHINGTON PRIVATE INDIVIDUAL 8/21/2003 SUPPORT RESEARCH & WRITNG OF 'DIRTY LAUNDRY' $15,000.00 3750 N. Lake Shore Drive EXAMINING AMERICA'S RACE SECRETS Apt 8-C Chicago 1160613

167 ART FOR INDIGENOUS SURVIVAL PUBLIC CHARITY at2l/2003 FOR SPECIAL PROJECT WITH THE CHEROKEE PEOPLE S5,00000 Ms. Shirley Frey McConahay OF QUALLA BOUNDARY, NORTH CAROLINA Art for Indigenous Survival 3205 Tlpl Lane Durham, NC 27705

168 MUSIC THEATRE WORKSHOP PUBLIC CHARITY 8127/2003 GENERAL OPERATING SUPPORT $251000-00 Mr. Robert T Carter Music Theatre Workshop 7359 N Greenview Chicago 1160626-1963

0 ~ THE RICHARD H. DRIEHAUS FOUNDATION 36-3261347

STATEMENT,10

SCHEDULE OF CONTRIBUTIONS MADE FOR THE YEAR ENDED 10131/03

FOUNDATION STATUS DATE NAME & ADDRESS OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION AMOUNT

169 MILLENNIUM PARK, INC PUBLIC CHARITY 8/28/2003 2003 INSTALLMENT OF GRANT $200,000 .00 Mr. John Bryan Millennium Park Inc NBC Towers, Suite 1400 455 N. r-4ty Front Plaza Chicago 1160611

170 THE HYPOCRITES PUBLIC CHARITY 9/10/2003 GENERAL OPERATING SUPPORT $8,000 .00 Ms . Mechelle Moo, Executive Director The Hypocrites P 0 Box 578542 Chicago IL 60657

171 NATYA DANCE THEATRE PUBLIC CHARITY 9117/2003 GENERAL OPERATING SUPPORT $10.000.00 Ms . Hema Rajagpalan, Artistic Dir. Natya Dance Theatre 954 West Washington, Unit 5 North Chicago 1160607

172 BETHEL NEW LIFE, INC PUBLIC CHARITY 9/17/2003 GENERAL OPERATING SUPPORT $25.00000 Mr. Steven McCullough, Chief Operating Officer Bethel Now Life, Inc 4950 W Thomas Street Chicago 1160651

173 CHICAGO THEATRE COMPANY PUBLIC CHARITY 9/17/2003 GENERAL OPERATING SUPPORT $20.000.00 Mr. Douglas Alan-Mann. Managing Director Chicago Theatre Company 500 East 67th Street Chicago 1160637

174 CHICAGO ARTISTS'COALITION PUBLIC CHARITY 9/17/2003 GENERAL OPERATING SUPPORT $10,000.00 Ms. Arlene Rakoncay, Exe Director Chicago Artists'Coalition I I East Hubbard Street, 7th FI Chicago 1160611

175 NEIGHBORHOOD WRITING ALLIANCE PUBLIC CHARITY 9/17/2003 GENERAL OPERATING SUPPORT $50,00000 Ms. Cards Spitler, Exe. Director Nieghborhood Writing Alliance 1313 East 60th Street Chicago 1160637

176 ST. JOSEPH SEMINARY PUBLIC CHARITY 9/22/2003 RECEPTION 0 25 E ON 09/23 $2,367 .00 Ms . Mane Composto St. Joseph Seminary 6551 N Sheridan Rd Chicago IL 60626

M THE RICHARD H. DRIEHAUS MUSEUM EXPENDITURE 9/25/2003 NICKERSON MANSION ACQUISITION & RESTORATION $1,0D0 .000 .00 Mr. Roger Guerin RESPONSIBILITY The Richard H Driehaus Museum 25 E Erie Street Chicago, 1160611

178 NATIONAL TRUST FOR HISTORIC PRESERVATION PUBLIC CHARITY 9129/2003 FINAL PAYMENT FOR 2003 $75,00000 Mr. David J. Brown, Exec. Director National Trust for Historic Preservation 1785 Massachusetts Avenue, NW Washington, DC 20036

179 CHICAGO FOUNDATION FOR WOMEN PUBLIC CHARITY 9/3/2003 18TH ANNUAL LUNCHEON & SYMPOSIUM $4,500.00 230 West Superior Chicago 1160611

180 THE PEACE MUSEUM PUBLIC CHARITY 9/3/2003 CONTRIBUTION $1,00000 314 W Institute Place Chicago 1160610

181 HYDE PARK HISTORICAL SOCIETY PUBLIC CHARITY 9/812003 SAVE THE POINT $4,800 .00 Jack Spicer Hyde Park Historical Society 6636 S KImbark Chicago 11 6G637

0 THE RICHARD H. DRIEHAUS FOUNDATION 36-3261347

STATEMENT 3-0

SCHEDULE OF CONTRIBUTIONS MADE FOR THE YEAR ENDED 10/31/03 FOUNDATION STATUS DATE NAME & ADDRESS OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION AMOUNT

182 HEALTH & MEDICNE POLICY RESEARCH GROUP PUBLIC CHARITY 9/23t2003 EVENT SPONSOR DONATED TABLE $5.00000 29 E Madison, Suite 602 Chicago 1160602

183 HARVARD DESIGN MAGAZINE PUBLIC CHARITY 9/24/2003 SPONSOR BENEFIT SEMINAR $2,500.00 Mr. William S Saunders Harvard Design Magazine Harvard Univ. Graduate School of Design 48 Quincy Street Cambridge MA 02138

184 CHICAGO COMMUNITY LOAN FUND PUBLIC CHARITY 1019/2003 FOR WORK ON GREEN DESIGN S10.000 .00 Mr . Calvin Holmes, Director Chicago Community Loan Fund 29 E. Madison Street Suite 1700 Chicago 1160602

185 COLLABORATION THEATRE PUBLIC CHARITY I G11 6/2003 GENERAL OPERATING SUPPORT $7,00000 Mr. Anthony Moseley Collaborabon Theatre 11150 W Hubbard St Chicago IL 60622

186 ZEPHYR DANCE PUBLIC CHARITY 10/16/2003 GENERAL OPERATING SUPPORT $2.50000 Ms . Michelle Kranick Zephyr Dance 1627 North Oakley Chicago 1160647-5318

187 TRAP DOOR PRODUCTIONS PUBLIC CHARITY 1 Ott 612003 GENERAL OPERATING SUPPORT $6 .000 .00 Ms. Beata Pilch Artistic Director Trap Door Productions 1655 West Cortland Ave Chicago 1160622

188 A RED ORCHID THEATRE PUBLIC CHARITY 10t16t2003 GENERAL OPERATING SUPPORT $5,00000 Mr. Douglas Vickers, Grant Coordinator A Red Orchid Theatre 1531 N Wells Street Chicago 1160610

189 MAD SHAK DANCE COMPANY PUBLIC CHARITY 10t16/2003 GENERAL OPERATING SUPPORT $6.000.00 Ms. Molly Shanahan Mad Shak Dance Company 6219 North Sheridan Rd Chicago 1160660

190 GOAT ISLAND PUBLIC CHARITY 10/16/2003 GENERAL OPERATING SUPPORT $6,00000 Mr. Matthew Goulish, SecrTreasurer Goat Island 1144 North Hoyne Ave Chicago 1160622

191 EUROPEAN REPERTORY COMPANY PUBLIC CHARITY 1011 &2003 GENERAL OPERATING SUPPORT $5,000.00 Mr Dale Goulding European Repertory Company P 0. Box 578220 Chicago IL 60657-MO

192 ECLIPSE THEATRE COMPANY PUBLIC CHARITY 10/16/2003 GENERAL OPERATING SUPPORT $6 .000 .00 Mr. David Tarlow, Director of Development Eclipse Theatre Company P.O . Box 578960 Chicago 1160657-8960 $7 .000 .00 192 DEEPLY ROOTED PRODUCTIONS PUBLIC CHARITY 10t1612003 GENERAL OPERATING SUPPORT Mr. Kevin lega Jeff, Artistic Director Deeply Rooted Productions 3712 North Broadway, # 148 Chicago IL 60613

0 THE RICHARD H DRIEHAUS FOUNDATION 36-3261347

STATEMENT 0

SCHEDULE OF CONTRIBUTIONS MADE FOR THE YEAR ENDED 10/31/03

FOUNDATION STATUS DATE NAME & ADDRESS - OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION AMOUNT_

192 THE DANCE COLECTIVE PUBLIC CHARITY 10116/2003 GENERAL OPERATING SUPPORT $5,000.00 Ms . Margie Cole . Artistic Director The Dance COLEctive 300 North State St Suite DD Chicago IL 60610

193 PROP THEATRE GROUP PUBLIC CHARITY 10116/2003 GENERAL OPERATING SUPPORT $4,00000 Ms . Maureen Michael Prop Theatre Group 2621 N Washtenaw, Ave Chicago 11 60647

194 LUCKY PLUSH PRODUCTION PUBLIC CHARITY 10/16/2003 GENERAL OPERATING SUPPORT $4.DDO.00 Ms Julia Rhoads, Artistic Director Lucky Plush Production 1423 North Cleaver #3R Chicago 1160622

195 KUUMBA LYNX PUBLIC CHARITY 10116/2003 GENERAL OPERATING SUPPORT $2,500.00 Ms . Jacinda Bullie, Exec Dir Kuumba Lynx 4720 North Beacon Chicago IL 60640

196 THE HOUSE THEATRE PUBLIC CHARITY 10/16/2003 GENERAL OPERATING SUPPORT $4 .ODO 00 Mr. Matt Hawkins, Dir. Of Development The House Theatre of Chicago 4344 North Bell # 2 Chicago 1160618

197 THE 58 GROUP PUBLIC CHARITY 1Q(16t2003 ADMINISTRATIVE SUPPORT $4,00000 Ms Ginger Farley . Artistic Director 1100 West Montrose Ave Chicago 1160613

198 CLINARD DANCE THEATRE PUBLIC CHARITY 1011 6t2003 GENERAL OPERATING SUPPORT $4.00000 Ms . Amy DeFiguendo, Admin. Assist Clinard Dance Theatre 1919 South Canalport 1 F Chicago 1160616

199 BREAKBONE DANCE CO PUBLIC CHARITY 1 Ott 6t2003 GENERAL OPERATING & PRODUCTION $2,50000 Ms. Atalee Judyl Artistic Did Pros Breakbone Dance Co 3020 N Albany #1 Chicago 1160618

200 BACKSTAGE THEATRE CO PUBLIC CHARITY 10116/2003 GENERAL OPERATING SUPPORT $2,500.00 Ms Amy Monday, Managing Director Backstage Theatre Co P.O . Box 118142 Chicago IL 60611

201 ATTIC PAYHOUSE INC PUBLIC CHARITY 10t16t2003 GENERAL OPERATING SUPPORT $4.00000 Ms. Kimberty Loughlin, Artistic & Managing Director Attic Playhouse Inc P.O . BOX 10 Highland Park, 11 60040

202 AGUIJON THEATRE CO PUBLIC CHARITY 1Qt16/2003 GENERAL OPERATING SUPPORT $3,000.00 Ms. Marcela Munoz, Secretary 2707 North Laramie Ave Chicago IL 60639

203 THE SELDOMS PUBLIC CHARITY 10/1 6t2003 GENERAL OPERATING SUPPORT $6,000 .00 Ms. Came Hanson . ExecjCo Artistic Dir. The Seldoms 2300 South Archer Ave Chicago IL 60616

0 THE RICHARD H. DRIEHAUS FOUNDATION 36-3261347 0

STATEMENT 10

SCHEDULE OF CONTRIBUTIONS MADE FOR THE YEAR ENDED 10/31/03

FOUNDATION STATUS DATE NAME & ADDRESS OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION AMOUNT

204 THE CURIOUS THEATRE BRANCH PUBLIC CHARITY 1011612003 GENERAL OPERATING SUPPORT $7,000 .00 Ms. Jenny Magnus/Artistic Assoc. The Curious Theatre Branch 7001 N Glenwood Chicago 1160626

205 THEATRE OOBLECK PUBLIC CHARITY 10/1612003 GENERAL OPERATING SUPPRORT $6.00000 Mr. David Isaacson/President Theatre Oobleck 6518 North Rockwell Chicago IL 60645

2D6 MARY-ARRCHIE THEATRE CO PUBLIC CHARITY 10/16/2003 GENERAL OPERATING SUPPORT $5.000.00 Mr. Richard Cotovsky . Artistic Dir. Mary-Arrchie Theatre Co 7548 North Bell Chicago 1160645

207 THE MAMMALS PUBLIC CHARITY 1011612003 GENERAL OPERATING SUPPORT $4,000.00 Mr. Bob Fisher, Artistic Dir The Mammals 3729 North Ravenswood Ave, Suite 138 Chicago 1160613

208 LAMPO PUBLIC CHARITY 10122/2003 GENERAL OPERATING SUPPORT $7,50().00 Mr Andrew Fenchel, Exec Dir Lampo 1541 West Chicago Ave Chicago IL 60622

209 UKRAINIAN INSTITUTE OF MODERN ART PUBLIC CHARITY 10/22/2003 GENERAL OPERATING SUPPORT $7,500 .00 Ms. Marla Kulczycky Ukrainian Inst. of Modem Art 2320 West Chicago Ave Chicago 1160622

210 VIDEO MACHETE PUBLIC CHARITY 10/22/2003 GENERAL OPERATING SUPPORT 110.ODO 00 Ms. Davida Ingram, Admin Dir Video Mahcete I ISO N Milwaukee Chicago IL 60622

211 THE SUTHERLAND COMMUNITY ARTS INITIATIVE PUBLIC CHARITY 10/22/2003 GENERAL OPERATING SUPPORT $10,000.00 Mr. Malachi Thompson The Sutherland Com. Arts Initiative 839 East 47th St Chicago IL 60653

212 STAGE LEFT INC PUBLIC CHARITY 10122J2003 GENERAL OPERATING SUPPORT $7,50000 Mr. Kevin Hochman, Managing Dir Stage Left Inc 3408 North Sheffield Chicago 1160657

213 SCRAP METTLE SOUL PUBLIC CHARITY 10/22/2003 GENERAL OPERATING SUPPORT $15,00000 Ms. Carol Jean Carlson, Fundraising Chair 40 Scrap Mettle Soul 4600 N Magnolia, Suite C Chicago It. 60640

214 SALT CREEK BALLET PUBLIC CHARITY 10/22/2003 GENERAL OPERATING SUPPORT $7.500.00 Me Janice Temphon, Manging Dir Salt Creek Ballet 98 East Naperville Rd Westmont IL 60559

215 RAVEN THEATRE PUBLIC CHARITY 10122/2003 GENERAL OPERATING SUPPORT $10.000 .00 Ms. Liz Fletcher, Dev. Dir Raven Theatre 6157 North Clark Street Chicago IL 60660

0 ~ THE RICHARD H. DRIEHAUS FOUNDATION 36-3261347

STATEMENT 10

SCHEDULE OF CONTRIBUTIONS MADE FOR THE YEAR ENDED 10131/03

FOUNDATION STATUS DATE NAME & ADDRESS OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION AMOUNT

216 PORCHLIGHT MUSIC THEATRE CHICAGO PUBLIC CHARITY 10/22/2003 GENERAL OPERATING SUPPORT $10.000 .00 Ms . Jeannie Lukow, Managing Dir. Porchlight Music Theatre Chicago 1919 W Oakdale Chicago IL 60657

217 THE POETRY CENTER PUBLIC CHARITY 1012212003 GENERAL OPERATING SUPPORT $10.000 GO Ms Shirley Stephenson, Devel Dir The Poetry Center 37 South Wabash Ave Chicago IL 60603

216 THE NATIONAL JAZZ MUSEUM PUBLIC CHARITY 1012212003 GENERAL OPERATING SUPPORT $10,00000 Ms . R Susan Motley The National Jazz Museum 1727 S. Indiana Ave, Suite G02 Chicago IL 60616

219 INTUIT~. THE CENTER FOR INTUITIVE & OUTSIDER ART PUBLIC CHARITY 10122/2003 GENERAL OPERATING SUPPORT $15,00000 Mr. Jeff Cory. Exec . Dir Intuit The Center for Intuitive & Outsider Art 756 N Milwaukee Ave Chicago IL 60622

220 INTERNATIONAL MUSIC FOUNDATION PUBLIC CHARITY 10/2212003 GENERAL OPERATING SUPPORT $12.50000 Ms. Ann Murray International Music Foundation 650 North Dearborn, Suite 350 Chicago 1160610

221 ILLINOIS STORYTELLING, INC PUBLIC CHARITY 10/22/2003 GENERAL OPERATING SUPPORT $7,5W 00 Ms. Lucinda Flodin. President Illinois Storytelling Inc P.O . Box 249 McHenry 11 60051-0249

222 GLEN ELLYN CHILDREN'S CHORUS PUBLIC CHARITY 10/2212003 GENERAL OPERATING SUPPORT $10,000.00 Ms. Joan Welles, Exec. Dir. Glen Ellyn Children's Chorus 799 Roosevelt Rd . Building 6, Suite 100 Glen Ellyn 1160137-5910

223 THE FIELD MUSEUM PUBLIC CHARITY 10/2212003 2004/05 CULTURAL CONNECTIONS PROGRAM $15,00000 Ms. Alake Wall The Field Museum 1400 S Lake Shore Dr Chicago IL

224 EXPERIMENTAL SOUND STUDIO PUBLIC CHARITY 1012=003 GENERAL OPERATiNG SUPPORT $7.50000 Mr. Lou Mallozzi Experimental Sound Studio 5150 North Paulma Chicago IL 60640

225 EVANSTON HISTORICAL SOCIETY PUBLIC CHARITY 10/22/2003 SUPPORT EXHIBITION SPACE DEVELOPMENT PROJEC $10.000 .00 Ms. IQm Olson-Clark, Develp. Officer Evanston Historical Society 225 Greenwood Street Evanston IL 60201

226 CHICAGO MOVING COMPANY PUBLIC CHARITY I W=003 GENERAL OPERATING SUPPORT $10,000.00 Ms. Kay LaSota Chicago Moving Co Hamlin Park Fieldhouss 3035 N Hoyne Chicago 1160618

227 CHICAGO RHYTHM PROJECT PUBLIC CHARITY 1 0=2003 GENERAL OPERATING SUPPORT $10,000.00 Mr. Lane Alexander Chicago Rhythm Project 2936 N Southport Ave. Suite2l 0 Chicago 1160657

0 THE RICHARD H. DRIEHAUS FOUNDATION 36-3261347

STATEMENT,10

SCHEDULE OF CONTRIBUTIONS MADE FOR THE YEAR ENDED 1 1/03 FOUNDATION STATUS DATE NAME & ADDRESS OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION AMOUNT

228 CHICAGO DANCE AND MUSIC ALLIANCE PUBLIC CHARITY lGt22/2003 GENERAL OPERATING SUPPORT $7,500.00 Mr. Matthew Brockmeir, Exec . Dir. Chicaog Dance and Music Alliance 41 0 South Michigan Ave, Suite 819 Chicago IL 60605-1402

229 BEACON STREET GALLERY THEATRE PUBLIC CHARITY 10/22/2003 GENERAL OPERATING SUPPORT $10,00000 Ms. Patricia M Murphy, Founder & Co-Dir . Beacon Street Gallery Theatre P.O. Box 448 Geneva 11 60134

230 ARCHEWORKS PUBLIC CHARITY 10/2212003 GENERAL OPERATING SUPPORT $15,000 W Mr. Stanley TIgerman, Co-Founder Program Dir. Archeworks 635 North Kingsbury Chicago IL 60610

231 APOLLO CHORUS OF CHICAGO PUBLIC CHARITY 10/22/2003 GENERAL OPERATING SUPPORT $7,500.00 Mr. Kenneth Rasinski, Grants Chair Apollo Chorus of Chicago 410 South Michigan Ave Room 620 Chicago 1160605-1401

232 OPERA THEATRE HIGHLAND PARK PUBLIC CHARITY 10122/2003 GENERAL OPERATING SUPPORT $7.500.00 Ms. Made Forbes, Managing Director Opera Theatre Highland Park 1866 Sheridan Road, Suite 21 0 Highland Park, It 60035

233 NEAR NORTHWEST ARTS COUNCIL PUBLIC CHARITY 10/22/2003 GENERAL OPERATING SUPPORT $10.000 .00 Ms. Laura Weathered, Exec. Dir. Near Northwest Arts Council 1741 North Western Ave Chicago 11 60647-4301

234 500 CLOWN EXPENDITURE 10/29/2003 GENERAL OPERATING SUPPORT $5 .ODO .00 Mr . Adrian Danzig, Producing Director RESPONSIBILITY 500 Clown 161 W. Harrison, Apt 1206 Chicago, 1160605

235 SHATTERED GLOBE PUBLIC CHARITY 10t29/2003 GENERAL OPERATING SUPPORT $8,00000 Ms . Susan Salomon, Board Member Shattered Globe 2856 North Halsted Chicago IL 60657

236 BARREL OF MONKEYS PUBLIC CHARITY 10/29/2003 GENERAL OPERATING SUPPORT $7,00000 Ms. Kristie Koehler, Exec Dir Barrel of Monkeys 2936 North Southport, Suite 21 0 Chicago 1160657

237 LUNA NEGRA DANCE THEATRE PUBLIC CHARITY 10/29/2003 GENERAL OPERATING SUPPORT $7,000.00 Mr. Eduardo Vilaro, Artistic Dir Luna Negra Dance Theatre Ruth Page Center for the Arts 1016 N Dearborn Chicago 1160610

238 STRAWDOG THEATRE CO PUBLIC CHARITY 10/29/2003 GENERAL OPERATING SUPPORT $5,000.OD Ms Jennifer Avery, Grants Manager Strawdog Theatre Co 3829 North Broadway Chicago 1160613

239 PLASTICENE PUBLIC CHARITY 10129/2003 GENERAL OPERATING SUPPORT $8,0D0.00 Mr Dexter Bullard, Exec/Arbsbc Director Plasticene 2122 North Winchester I F Chicago 11 60614

0 THE RICHARD H. DRIEHAUS FOUNDATION 36-3261347

STATEMENT -10

SCHEDULE OF CONTRIBUTIONS MADE FOR THE YEAR ENDED 10/31/03

FOUNDATION STATUS DATE NAME & ADDRESS OF RECIPIENT DISTRIBUTED PURPOSE OF DISTRIBUTION AMOUNT~

240 CHICAGO REHAB NETWORK PUBLIC CHARITY 10/30/2003 DEVELOPMENT OF THE COMMUNICATIONS $20.00000 Mr. Kevin Jackson, Exec . Director AND OUTREACH PROGRAM Chicago Rehab Network 63 West Jackson Chicago IL 60604

241 MUSEUM OF SCIENCE AND INDUSTRY PUBLIC CHARITY 10/3012003 THE PROMISE PROGRAM $15,000.00 Jamie Phillippe, VP, External Affairs Museum of Science and Industry 57th Street and Lake Shore Drive Chicago 1160637-2093

242 ARCHI-TREASURES PUBLIC CHARITY 10/30/2003 GENERAL OPERATING SUPPORT $15.00000 Ms. Joyce Fernandes, Executive Director Archl-Treasures 2850 North Pulaski Road Chicago 11 60641

243 CAMBODIAN ASSOCIATION OF ILLINOIS PUBLIC CHARITY 10/30/2GO3 KILLING FIELDS MEMORIAL SCULPTURE OF $20.000.W Mr . Kompha Seth THE CAMBODIAN AMERICAN HERITAGE MUSEUM Cambodian Association of Illinois 2831 West Lawrence Ave Chicago 1160625

244 COOLIDGE CORNER THEATRE FOUNDATION PUBLIC CHARITY 10/30/2003 CREATION . PRODUCTION & DISSEMINATION OF THE $25,00000 Mr . Joe 7Jna, Exec Director GRAPHIC & BRANDING IDENTITY OF THE Coolidge Comer Theater Foundation NEW ANNUAL'COOLIDGE AWARD* 290 Harvard Street Brookline, MA 02446

245 RIVENDALE THEATRE ENSEMBLE PUBLIC CHARITY 10130/2003 GENERAL OPERATING SUPPORT $4.000.00 Ms Tara Mellen Rivendale Theatre Ensemble 1711 West Bell Plame, #3 Chicago 1160613

246 METROPOLITAN FAMILY SERVICES PUBLIC CHARITY 10131/2003 EMERGENCY GRANT $5 .00000 Ms . Rona Frazin Metropolitan Family Services 14 E Jackson, 15th FI Chicago 11 60604

247 GUANG YUE SU PRIVATE INDIVIDUAL 10/31/2003 FINAL GRANT INSTALLMENT $2,500 .00 3014 South Lloyd Apt 1 R Chicago IL 60608

TOTAL DISTRIBUTIONS $5,037.839 42

0 0

Statement #11 Outstanding Commitments

Organization 2004 2005 2006 2007 LESC S 55,000.00 S 55,ODO-00 S 55,000.00 MiUennium Project is 200,000-00 Natiuml Trust $ 100,000.00 S 200,000.00 The Art Institute S 33,000.00 Historic Uicago Bungalow Assoc. $ 25,000.00 CWcago Ventures Fumd $ 25,000.00 Ounce of Prevention $ 20,000.00 S 20,000.00 20,000.00 St. Mwgamt of Scotland S 200,000.00 School Sisters of Notre Dame S 200,000.00 Young Women's Leadership Chaxter School of Chicago $ 15,000.00 $ 15,()00.00 Museum of Science & Industry $ 15,000.00 S 15,000.00

,Totals J-I S 888,000.00 S 305,000.00 3 75,000.00 IS