Company Profiles 2010

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COMPANY PROFILES 2010

Godsey & Gibb Associates compiled the following information in Godsey & Gibb Associates’ 2010 Company Profiles from Reuters’ Company Profiles. These reports are intended solely for the clients of Godsey & Gibb Associates and its affiliates. This material is for informational purposes only and is not intended to be a recommendation for the purchase or sale of any individual security.

GODSEY & GIBB COMPANY PROFILES 2010 TABLE OF CONTENTS

Abbott Laboratories (ABT)……………………………………………………………………………. 1 Accenture Ltd. (ACN)…………………………………………………………………………………. 3 AFLAC Inc. (AFL)……………………………………………………………………………………… 6 AGL Resources Inc. (AGL)…………………………………………………………………………… 7 American Electric Power Co. Inc. (AEP)….………………………………………………………… 8 American Express Co. (AXP)………………………………………………………………………… 10 AT&T, Inc (T)…………………………………………………………………………………………… 13 Atmos Energy Corp. (ATO)…………………………………………………………………………… 15 Barrick Gold Corp. (ABX)……………………….……………………………………………………. 16 Chevron Corp. (CVX) ………………………………………………………………………………… 17 Clorox Co. (CLX) ……………………………………………………………………………………… 20 Cognizant Technology Solutions (CTSH)……………………………………………………….….. 21 CVS Caremark Corp. (CVS)………………………………………………………………………….. 22 Dominion Resources, Inc. (D)………………………………………………….…………………….. 23 Duke Energy Corp. (DUK)……………………………………………………………………………. 24 Emerson Electric Co. (EMR)………………………………………………………………………….. 25 Entergy Corp. (ETR)…………………………………………………………………………………… 28 Exelon Corp. (EXC)…………………………………………………………………………………… 29 Express Scripts, Inc. (ESRX)…………………………………………………………………..……. 30 ExxonMobil Corp. (XOM)………………………………………………………………….…………. 32 FedEx Corp. (FDX) …………………………………………………………………………………… 34 W.W. Grainger, Inc. (GWW)………………………………………………………………………….. 36 H. J. Heinz Co. (HNZ)…………………………………………………………………………………. 37 Hewlett-Packard Co. (HPQ)………………………………………………………………………….. 38 Intel Corp. (INTC)……………………………………………………………………………………… 41 International Business Machines Corp. (IBM)……………………………………………………… 43 Johnson & Johnson (JNJ)…………………………………………………………………………….. 44 Kimberly-Clark Corp. (KMB)…………………………………………………………………………… 45 Kraft Foods Inc. (KFT)………………………………………………………………………………….. 46 McDonald’s Corp. (MCD)……………………………………………………………………………... 48 Microchip Technologies, Inc. (MCHP)………………………………………………………………. 49 Microsoft Corp. (MSFT)……………………………………………………………………………….. 50 NextEra Energy Inc. (NEE)…………………………………………………………………………… 52 Novartis AG (NVS)……………………………………………………………………………………. 53 Nstar (NST)……………………………………………………………………………………………. 54 Oracle Corp. (ORCL)…………………………………………………………………………………. 55 Pepco Holdings, Inc. (POM)…………………………………………………………………………. 57 PepsiCo, Inc. (PEP)…………………………………………………………………………………… 59 Pfizer, Inc. (PFE) ………………..……………………………………………………………………. 61 Piedmont Natural Gas Co. (PNY)……………………………………………………………………. 63

TABLE OF CONTENTS

Procter & Gamble Co. (PG).………………………………………………………………………….. 64 Progress Energy, Inc. (PGN).………………………………………………………………………… 65 Qualcomm Inc. (QCOM).……………………………………………………………………………… 66 SCANA Corp. (SCG)....……………………………………………………………………………….. 68 Schlumberger Ltd. (SLB)...…………………………………………………………………………… 69 Schwab GNMA Fund (SWGSX)..……………………………………………………………………. 70 Southern Company (SO)...…………………………………………………………………………… 71 Stryker Corp. (SYK).……………..……………………………………………………………………. 72 Sysco Corp. (SYY).……………………………………………………………………………………. 75 T. Rowe Price Group, Inc. (TROW)...……………………………………………………………….. 76 Target Corp. (TGT)...………………………………………………………………………………….. 77 Teva Pharmaceutical Industries Ltd. (TEVA)..….…………..………………………………………. 78 United Technologies Corp. (UTX).………..……………..…………………………………………… 79 Vanguard GNMA Fund (VFIIX and VFIJX).…………………………………………………………. 81 Verizon Communications (VZ)...……………………………………………………………………… 82 Walgreen Company (WAG).…………………………………………………………………………… 84 Wal-Mart Stores, Inc. (WMT)....……………………………………………………………………….. 85 WGL Holdings, Inc. (WGL).……………………………………………………………………………. 86 Xcel Energy, Inc. (XEL.. ……………………………………………………………………………….. 87

COMPANY PROFILE

Abbott Laboratories (ABT) Web Site: http://www.abbott.com/

Abbott Laboratories (Abbott), incorporated in 1900, is engaged in discovery, development, manufacture, and sale of diversified line of healthcare products. The Company operates in four segments: Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Pharmaceutical Products include a line of adult and pediatric pharmaceuticals manufactured, marketed, and sold directly to wholesalers, distributors, government agencies, healthcare facilities, specialty pharmacies and independent retailers from Abbott-owned distribution centers and public warehouses. Its Diagnostic Products include a line of diagnostic systems and tests manufactured, marketed, and sold to blood banks, hospitals, commercial laboratories, clinics, physicians' offices, alternate-care testing sites and plasma protein therapeutic companies. The Company’s Nutritional Products include a line of pediatric and adult nutritional products manufactured, marketed, and sold worldwide. Its Vascular Products include a line of coronary, endovascular, and vessel closure devices for the treatment of vascular disease manufactured, marketed and sold worldwide. In March 2010, Abbott Laboratories acquired Starlims Technologies Limited.

In April 2010, the Company completed its acquisition of Facet Biotech Corporation. On February 15, 2010, Abbott completed its acquisition of the Solvay Group's pharmaceuticals business. In October 2009, Abbott acquired 100% interest in Visiogen, Inc. On October 30, 2009, Abbott acquired Evalve, Inc. In February 2009, Abbott acquired Advanced Medical Optics, Inc. (AMO). In January 2009, Abbott acquired Ibis Biosciences, Inc. In September 2010, the Company acquired Piramal Healthcare Limited’s Healthcare Solutions business.

Pharmaceutical Products The principal products included in the Pharmaceutical Products segment include Humira, for the treatment of rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, psoriasis and Crohn's disease; TriCor, Trilipix, Simcor and Niaspan, for the treatment of dyslipidemia; Kaletra, Aluvia and Norvir, protease inhibitors for the treatment of human immunodeficiency virus (HIV) infection; Synthroid, for the treatment of hypothyroidism; Lupron, also marketed as Lucrin and Lupron Depot, used for the palliative treatment of advanced prostate cancer, treatment of endometriosis and central precocious puberty, and for the preoperative treatment of patients with anemia caused by uterine fibroids; Depakote, an agent for the treatment of epilepsy and bipolar disorder and the prevention of migraines; the anesthesia products sevoflurane (sold in the United States under the trademark Ultane and outside of the United States primarily under the trademark Sevorane and in a few other markets as Ultane), isoflurane and enflurane; the anti-infective clarithromycin (sold under the trademarks Biaxin, Klacid and Klaricid), and various forms of the antibiotic erythromycin, sold primarily as polymercoated erythromycin (PCE), Erythrocin and E.E.S.; Zemplar, for the prevention and treatment of secondary hyperparathyroidism associated with chronic kidney disease and Stage V treatment, and Ogastro (lansoprazole), a proton pump inhibitor that is marketed outside of the United States and used principally for the short-term treatment of gastroesophageal reflux disease, duodenal ulcers, gastric ulcers and erosive esophagitis.

Diagnostic Products The Company’s Diagnostic Products segment's products are generally marketed and sold directly from Abbott-owned distribution centers and public warehouses and third-party distributors. Outside the United States, sales are made either directly to customers or through distributors, depending on the market served. The principal products included in the Diagnostic Products segment include immunoassay systems, which include ARCHITECT, AxSYM, IMx, Commander, Abbott PRISM, TDx and TDxFlx; chemistry systems, such as ARCHITECT c4000, c8000 and c16000; assays used for screening and/or diagnosis for drugs of abuse, cancer, therapeutic drug monitoring, fertility, physiological diseases and infectious diseases, such as hepatitis and HIV; the m2000, an instrument that automates the extraction, purification, and preparation of deoxyribonucleic acid (DNA) and ribonucleic acid (RNA) from patient samples and detects and measures infectious agents including HIV, hepatitis B virus (HBV), hepatitis C virus HCV, human papillomavirus (HPV), and CT/NG; the Vysis product line of genomic-based tests, which include the PathVysion HER-2 DNA probe kit and the UroVysion bladder cancer recurrence kit; a line of hematology systems and reagents known as the Cell-Dyn series, and the i-STAT point-of-care diagnostic systems and tests for blood analysis. In addition, under a distribution agreement with Celera Group, the Diagnostic Products segment distributes certain Celera molecular diagnostic products, including the Viroseq HIV genotyping system and products used for the detection of mutations in the CFTR gene, which causes cystic fibrosis.

Nutritional Products The Company’s Nutritional Products segment's products are generally marketed and sold to institutions, wholesalers, retailers, healthcare facilities, government agencies and third-party distributors from Abbott-owned distribution centers

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COMPANY PROFILE or third-party distributors. Outside the United States, sales are made either directly to customers or through distributors, depending on the market served. Its Principal products in the Nutritional Products segment include various forms of prepared infant formula and follow-on formula, which includes Similac Advance, SimilacAdvance EarlyShield, Similac, Similac with Iron, Similac Sensitive, Similac Sensitive RS, Similac Go&Grow, Similac NeoSure, Similac Organic, Similac Special Care, Isomil Advance, Isomil, Isomil Go&Grow, Alimentum, Gain and Grow; adult and other pediatric nutritional products, which include Ensure, Ensure Plus, Ensure High Protein, Glucerna, ProSure, PediaSure, PediaSure NutriPals, EleCare, Juven, Abound and Pedialyte; nutritional products used in enteral feeding in healthcare institutions, including Jevity, Glucerna 1.2 Cal, Glucerna 1.5 Cal, Osmolite, Oxepa and Nepro, and ZonePerfect bars and the EAS family of nutritional brands, including Myoplex and AdvantEdge. In addition, certain nutritional products sold as Gain, Grow, PediaSure, PediaSure NutriPals, Pedialyte, Ensure, ZonePerfect, EAS/Myoplex and Glucerna are also promoted directly to the public.

Vascular Products The Vascular Products segment's products are generally marketed and sold directly to hospitals from Abbott-owned distribution centers and public warehouses. Outside the United States, sales are made either directly to customers or through distributors, depending on the market served. The principal products included in the Vascular Products segment include Xience Prime and Xience V, drug-eluting stent systems developed on the Multi-Link Vision platform; Multi-Link 8, Multi-Link Vision and Multi-Link Mini Vision, coronary metallic stents; Voyager balloon dilatation products; Hi-Torque Balance Middleweight and Asahi coronary guidewires; StarClose and Perclose vessel closure devices; Acculink/Accunet and Xact/Emboshield NAV6, carotid stent systems, and MitraClip, a percutaneous valve repair system.

Other Products The principal products in Abbott's other businesses include blood glucose monitoring meters, test strips, data management software and accessories for people with diabetes, including the FreeStyle product line, and medical devices for the eye, including cataract surgery, lasik surgery, contact lens and dry eye products. These products are marketed worldwide and generally sold directly to wholesalers, government agencies, healthcare facilities, mail order pharmacies and independent retailers from Abbott-owned distribution centers and public warehouses. Some of these products are marketed and distributed through distributors. Blood glucose monitoring meters, contact lens care products, and dry eye products are also marketed and sold over-the-counter to consumers. The Company competes with GlaxoSmithKline.

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COMPANY PROFILE

Accenture Ltd. (ACN) Web Site: http://www.accenture.com/

Accenture plc (Accenture) is a management consulting, technology services and outsourcing company, which has offices and operations in more than 200 cities in 53 countries. Its business is organized in five operating groups and their 19 industry groups. Its five operating groups include communications & high tech, financial services, health & public service, products and resources. In November 2010, the Company acquired Knowledge Rules, Inc., a Philadelphia-based consulting company that focuses on implementing and integrating business solutions using Pegasystems Business Process Management (BPM) software.In November 2010, Ariba, Inc. completed the sale of its sourcing services and business process outsourcing (BPO) services assets to the Company.

Communications & High Tech The Company is provider of management consulting, technology, systems integration and outsourcing services and solutions to the communications, electronics, high technology, media and entertainment industries. Its services and solutions include the application of mobile technology, broadband and Internet protocol solutions, advanced advertising solutions, cloud computing application architecture, product innovation and digital rights management, as well as systems integration, customer care, supply chain and workforce transformation services. Its Communications & High Tech operating group includes communications, electronics and high tech, and media and entertainment industry groups.

The Company’s communications industry group serves wireline, wireless, cable and satellite communications and service providers. It provides a range of services designed to help its communications clients increase margins, improve asset utilization, improve customer retention, increase revenues, reduce overall costs and accelerate sales cycles. It offers a solution portfolio designed to address business and operational issues related to sales and service channels, new product development, network functions, corporate functions and information technology.

The Company’s electronics and high tech industry group serves the communications technology, consumer technology, enterprise technology, semiconductor, software and aerospace/defense segments. This industry group provides services in areas, such as strategy, engineering services, enterprise resource management, customer relationship management, embedded software solutions, sales transformation, supply chain management, embedded software development, human performance and merger/acquisition activities, including post-merger integration. It also offers a suite of reusable solutions designed to address the industry’s business and operational challenges, such as new product development, customer service and support, sales and marketing, and global sales and operations effectiveness.

The Company’s media and entertainment industry group serves the broadcast, entertainment (television, music and movie), print, publishing and portal industries. It provides a range of services, including digital marketing, performance advertising, digital rights management, and digital content and media technologies to help clients manage, access, distribute and protect content across multiple platforms and devices. It also provides additional solutions through Origin Digital and Digiplug, specialized Accenture units that help content owners and distributors adapt business processes and systems to enable digital monetization.

Financial Services Accenture’s Financial Services operating group focuses on its clients’ needs to adapt to changing market conditions, including increased cost pressures, industry consolidation, regulatory changes, the creation of industry standards and protocols, and the move to a integrated industry model. Its Financial Services operating group comprises banking, capital markets and insurance industry groups. Its banking industry group works with retail and commercial banks and diversified financial enterprises. It helps these organizations develop and execute strategies to target, acquire and retain customers; expand product and service offerings; manage risk; comply with regulatory initiatives; support integration related to mergers and acquisitions, and leverage technologies and distribution channels.

The Company’s capital markets industry group helps investment banks, broker/dealers, asset-management firms, depositories, exchanges and clearing. Its insurance industry group helps property and casualty insurers, life insurers, reinsurance firms and insurance brokers improve business processes, modernize their technologies and improve the quality and consistency of risk selection decisions. It offers a claim management capability that enables insurers to provide customer service, while optimizing claims costs, as well as industry insurance policy administration technology solutions that enable insurers to bring products to market. It also provides a variety of outsourcing

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COMPANY PROFILE solutions to help insurers improve working capital and cash flow, deliver permanent cost savings and improve long- term growth.

Health & Public Service The Company’s Health & Public Service operating group comprises Public Service and Health industry groups. Through its connected health initiative, its health industry group works with healthcare providers, government health departments, policy-making authorities/regulators, managed care organizations, health insurers and other industry- related organizations to improve the quality, accessibility and affordability of healthcare. Its offerings address a variety of areas, including electronic health records and health information exchanges; back-office services for hospitals and health plans; sales and marketing; core administration services; health management services; claims excellence/cost containment, and corporate functions, including human resources, finance, procurement and information technology (IT).

The Company’s public service industry group provides services designed to help public-service entities around the world increase the efficiency of their operations, improve service delivery to citizens and reduce their overall costs to address budget deficits. It works primarily with defense, revenue, human services, health, postal, and justice and public-safety authorities or agencies, and its clients are national, state or local-level government organizations, as well as pan-geographic organizations. Its offerings help public-sector clients address some of their needs, including developing modern tax systems, which help increase compliance and improve revenues; ensuring the security of citizens and businesses, and improving the delivery of human services to eligible recipients.

Products Accentues’s Products operating group consists of air freight and travel services, automotive, consumer goods and services, industrial equipment, infrastructure and transportation services, life sciences and retail. Its air freight and travel services industry group serves airlines, freight and logistics companies across all modes of transport, and travel services companies, including hotels, tour operators, rental car companies and cruise operators. It also offers industry-specific solutions, such as Navitaire for the airline industry and an end-to-end shipment-management solution for the freight and logistics industry.

Its automotive industry group works with auto manufacturers, dealers, retailers and service providers. It helps clients develop and implement solutions focused on product development and commercialization, customer service and retention, channel strategy and management, branding, buyer-driven business models, cost reduction, customer relationship management and integrated supplier partnerships. Its consumer goods and services industry group serves food and beverage, alcoholic beverage, household goods and personal care, tobacco and fashion/apparel manufacturers and agribusiness and consumer health companies worldwide. Its service offerings are designed to help these companies improve their performance by addressing critical elements of success, including large-scale enterprise resource planning (ERP) strategy and implementation, sales and marketing transformation, working-capital productivity improvement and supply chain collaboration. Its also help clients build operating models that facilitate end-to-end processes focused on improved outcomes for users, employees, customers and suppliers.

The Company’s industrial equipment industry group serves the industrial and electrical equipment, automotive supplier, consumer durable and heavy equipment industries. It helps its clients increase operating and supply chain efficiencies by improving processes and leveraging technology. It also helps clients generate value from strategic mergers and acquisitions. In addition, its industrial equipment industry group develops and deploys solutions in the areas of cloud computing, channel management, collaborative product design, remote field maintenance, enterprise application integration and outsourcing. The Company’s infrastructure and transportation services industry group serves companies in the construction, infrastructure-management (ports, airports, seaports and road-tolling facilities) and mass-transportation industries. It help clients develop and implement strategies and solutions to improve their information technology and customer-relationship-management capabilities, operate more-efficient networks, integrate supply chains, develop procurement and electronic business marketplace strategies, and manage maintenance, repair and overhaul processes and expenses.

The Company’s life sciences industry group works with pharmaceutical, biotechnology, medical products and other companies across the life-sciences value chain, providing services, such as large-scale business and technology transformation, targeted business performance improvement and post-merger integration. Its area of focus includes research and development, supply chain, manufacturing, marketing and sales, and select back-office functions. In

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COMPANY PROFILE

addition, it operates life sciences-specific business process and IT outsourcing services across all geographies in the global industry. Its retail industry group serves a range of retailers and distributors, including supermarkets, department stores, specialty premium retailers and large mass-merchandise discounters. It provides service offerings, which help clients address ways of reaching the retail trade and consumers through precision marketing; maximize brand synergies and cost reductions in mergers and acquisitions; improve supply chain efficiencies through collaborative commerce business models, and improve the efficiency of internal operations.

Resources Accenture’s Resources operating group serves the chemicals, energy, forest products, metals and mining, utilities and related industries. Its Resources operating group includes chemicals, energy, natural resources and utilities. Its chemicals industry group works with a cross-section of industry segments, including petrochemicals, specialty chemicals, polymers and plastics, gases and agricultural chemical companies, among others. It helps chemical companies develop and implement business strategies, redesign business processes, manage change initiatives, and integrate processes and technologies to achieve higher levels of performance. Its energy industry group serves a range of companies in the oil and gas industry, including upstream, downstream, oil services and clean-energy companies. Its areas of focus include helping clients optimize production, manage their hydrocarbon and non- hydrocarbon supply chains, streamline marketing operations and third-party, enterprise-wide technology solutions. In addition, Its multi-client outsourcing centers enable clients to increase operational efficiencies and exploit cross- industry synergies.

The Company’s natural resources industry group serves the metals, mining, forest products and building materials industries. It help its clients, which include mining companies in the coal, iron ore, copper and precious metals sectors; steel and aluminum producers; and lumber, pulp, papermaking, converting and packaging companies, develop and implement business strategies, redesign business processes, manage change initiatives, and integrate processes and technologies to achieve higher levels of performance. Its utilities industry group works with electric, gas and water utilities worldwide to respond to an evolving marketplace. The Company’s work includes helping utilities transform themselves from regulated, and sometimes state-owned, local entities to international deregulated corporations, as well as developing diverse products and service offerings to help its clients deliver higher levels of service to their customers. These offerings include customer relationship management, workforce enablement, smart- grid development, supply chain optimization, and trading and risk management. It also provides a range of outsourced customer-care services to utilities and retail energy companies in North America.

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COMPANY PROFILE

AFLAC Inc. (AFL) Web Site: http://www.aflac.com/

Aflac Incorporated (Aflac), incorporated in 1973, is a general business holding company and acts as a management company, overseeing the operations of its subsidiaries. Its principal business is supplemental health and life insurance, through its subsidiary, American Family Life Assurance Company of Columbus (Aflac), which operates in the United States (Aflac U.S.) and as a branch in Japan (Aflac Japan). Aflac’s business consists of two segments: Aflac Japan and Aflac U.S. Aflac Japan sells supplemental insurance products, including cancer plans, general medical indemnity plans, medical/sickness riders, care plans, living benefit life plans, ordinary life insurance plans and annuities. Aflac U.S. sells supplemental insurance products, including accident/disability plans, cancer plans, short- term disability plans, hospital intensive care plans, fixed-benefit dental plans, vision care plans, care plans, and life insurance products. During 2009, the Company acquired Continental American Insurance Group, Inc.

Insurance Products - Japan Aflac Japan’s insurance products are designed to help consumers pay for medical and non-medical costs. Aflac Japan’s medical product, EVER, offers a basic level of hospitalization coverage with an affordable premium. In August 2009, Aflac introduced a new generation of EVER product, the changes being an enhanced surgical benefit and gender-specific premium rates. The cancer insurance plans provide a lump-sum benefit upon initial diagnosis of internal cancer and a fixed daily benefit for hospitalization and outpatient services related to cancer, as well as surgical, convalescent and terminal care benefits.

Aflac’s product, Cancer Forte pays outpatient benefits for 60 days. It also incorporates two features, which include payment to that policyholder an annuity from the second year through the fifth year after diagnosis, if the policyholder is diagnosed with cancer for the first time. The second new benefit is called Premier Support, where Aflac arranges for a third party to provide policyholders with counseling and doctor referral services upon their cancer diagnosis.

The life products that Aflac offers in Japan provide death benefits and cash surrender values. These products are available as stand-alone policies and riders. In March 2009, it introduced a child endowment product, which offers a death benefit until the child reaches age 18. It also pays a lump-sum benefit at the time of the child’s entry into high school, as well as an educational annuity for each of the four years during his or her college education. It also offer traditional fixed-income annuities and care policies.

Insurance Products - U.S. Aflac U.S. offers an accident and disability policy to protect against losses resulting from accidents. The accident portion of the policy includes lump-sum benefits for accidental death, dismemberment and specific injuries, as well as fixed benefits for hospital confinement. Optional disability riders are also available. Short-term disability policies provide disability benefits with a variety of elimination and benefit period options. The longest such benefit period offered is two years. The Company’s U.S. cancer plans are designed to provide insurance benefits for medical and non-medical costs that are not covered by medical insurance. Benefits include a first-occurrence benefit that pays an initial amount when internal cancer is first diagnosed; a fixed amount for each day an insured is hospitalized for cancer treatment; fixed amounts for radiation, chemotherapy and surgery; and a wellness benefit applicable toward certain diagnostic tests. Its Maximum Difference cancer plan incorporates coverage for medical advances in cancer prevention, diagnosis and treatment. Maximum Difference allows customization of coverage to fit varying needs and budgets.

During the year ended December 31, 2009, the Company launched Essentials Accident and Essentials Maximum Difference cancer plans. Aflac’s hospital indemnity products provide fixed daily benefits for hospitalization due to accident or sickness. Indemnity benefits for inpatient and outpatient surgeries, as well as various other diagnostic expenses, are also available. Aflac U.S. offers term and whole life policies sold through payroll deduction at the worksite and various term and whole life policies on a direct basis. Its life insurance product line, Life Protector Series, offers term policies with varying duration options and a new whole life policy with additional benefits, including an increased face value option. Aflac U.S. offers Vision Now, which provides benefits for serious eye health conditions and loss of sight. Vision Now includes coverage for corrective eye materials and exam benefits. It offers a series of fixed-benefit dental policies, providing various levels of benefits for dental procedures, including checkups and cleanings.

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COMPANY PROFILE

AGL Resources, Inc. (AGL) Web Site: http://www.aglresources.com/

AGL Resources Inc. (AGL Resources) is an energy services holding company, which is engaged in the distribution of natural gas in six states: Florida, Georgia, Maryland, New Jersey, Tennessee and Virginia. It is also engaged in the retail natural gas marketing to the customers in Georgia; natural gas asset management and related logistics activities for each of the utilities, as well as for non-affiliated companies; natural gas storage arbitrage and related activities, and the development and operation of natural gas storage assets. The Company also owns and operates a telecommunications business that constructs and operates conduit and fiber infrastructure within select metropolitan areas. AGL Resources operates in four segments: distribution operations, retail energy operations, wholesale services and energy investments, and a non-operating corporate segment

Distribution Operations The distribution operations segment includes six natural gas local distribution utilities. These utilities construct, manage and maintain intrastate natural gas pipelines and distribution facilities. It includes Atlanta Gas Light in Georgia, Chattanooga Gas in Tennessee, Elizabethtown Gas in New Jersey, Elkton Gas in Maryland, Florida City Gas in Florida and Virginia Natural Gas in Virginia. Atlanta Gas Light’s role includes distributing natural gas for marketers; constructing, operating and maintaining the gas system infrastructure, including responding to customer service calls and leaks; reading meters and maintaining underlying customer information for marketers, and planning and contracting for capacity on interstate transportation and storage systems.

Retail Energy Operations The retail energy operations segment consists of SouthStar Energy Services LLC (SouthStar), a joint venture owned 85% by the Company’s subsidiary, Georgia Natural Gas Company, and 15% by Piedmont Natural Gas (Piedmont). SouthStar markets natural gas and related services under Georgia Natural Gas to retail customers on an unregulated basis in Georgia, as well as Ohio and Florida. In addition, SouthStar markets gas to commercial and industrial customers in Alabama, Tennessee, North Carolina, South Carolina and Georgia.

Wholesale Services The wholesale services segment consists primarily of Sequent Energy Management, L.P. (Sequent), a subsidiary involved in asset management and optimization, storage, transportation, producer and peaking services and wholesale marketing. Sequent provides its customers with natural gas from the producing regions and market hubs in the United States and Canada. Sequent’s asset management customers include affiliated and non-affiliated utilities, municipal utilities, power generators and industrial customers. Sequent’s producer services business focuses on aggregating natural gas supply from various small and medium-sized producers located throughout the natural gas production areas of the United States.

Energy Investments The energy investments segment includes businesses that are related and complementary to the primary business. It includes natural gas storage business, which develops, acquires and operates salt-dome and other storage assets in the Gulf Coast region of the United States. Jefferson Island Storage & Hub, LLC (Jefferson Island), the Company’s wholly owned subsidiary operates a salt dome storage and hub facility in Louisiana, approximately eight miles from the Henry Hub and consists of two salt dome storage caverns.

AGL Networks, LLC (AGL Networks), the Company’s wholly owned subsidiary provides telecommunications conduit and available for use or dark fiber optic cable. AGL Networks leases and sells its fiber to a range of customers in the Atlanta, Georgia, Phoenix, Arizona and Charlotte, North Carolina metropolitan areas in the United States. Its customers include local, regional and national telecommunications companies, Internet service providers, educational institutions and other commercial entities.

Corporate The corporate segment includes the nonoperating business units. AGL Services Company is a service company established to provide certain centralized shared services to the operating segments. AGL Capital Corporation (AGL Capital), the wholly owned finance subsidiary provides for ongoing financing needs through a commercial paper program, the issuance of various debt and hybrid securities, and other financing arrangements. The corporate segment also includes intercompany eliminations for transactions between the operating business segments.

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COMPANY PROFILE

American Electric Power Co., Inc. (AEP) Web Site: http://www.aep.com/

American Electric Power Company, Inc. (AEP), incorporated in 1906, is a holding company. Its public utility subsidiaries include Appalachian Power Company (APCo), Columbus Southern Power Company (CSPCo), Indiana Michigan Power Company (I&M), Kentucky Power Company (KPCo), Kingsport Power Company (KgPCo), Ohio Power Company (OPCo), Public Service Company of Oklahoma (PSO), Southwestern Electric Power Company (SWEPCo), AEP Texas Central Company (TCC), AEP Texas North Company (TNC), Wheeling Power Company 9WPCo) and AEP Generating Company (AEGCo). The service areas of AEP’s public utility subsidiaries cover portions of the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia. The subsidiaries of AEP provide electric service, consisting of generation, transmission and distribution, on an integrated basis to their retail customers.

AEP also owns a service company subsidiary, American Electric Power Service Corporation (AEPSC). AEPSC provides accounting, administrative, information systems, engineering, financial, legal, maintenance and other services at cost to the AEP affiliated companies.

APCo is engaged in the generation, transmission and distribution of electric power to approximately 959,000 retail customers in the southwestern portion of Virginia and southern West Virginia, and in supplying and marketing electric power at wholesale to other electric utility companies, municipalities and other market participants. The principal industries served by APCo include paper, rubber, coal mining, textile mill products and stone, clay and glass products. In addition to its AEP System interconnections, APCo is interconnected with the unaffiliated utility companies, which include Carolina Power & Light Company, Duke Carolina and Virginia Electric and Power Company. APCo has several points of interconnection with Tennessee Valley Authority (TVA).

CSPCo is engaged in the generation, transmission and distribution of electric power to approximately 749,000 retail customers in Ohio, and in supplying and marketing electric power at wholesale to other electric utilities, municipalities and other market participants. CSPCo’s service area is comprised of two areas in Ohio, which include portions of 25 counties. The principal industries served include primary metals, chemicals and allied products, health services and electronic machinery. In addition to its AEP System interconnections, CSPCo is interconnected with unaffiliated utility companies, which include Duke Ohio, DP&L and Ohio Edison Company.

I&M is engaged in the generation, transmission and distribution of electric power to approximately 583,000 retail customers in northern and eastern Indiana and southwestern Michigan, and in supplying and marketing electric power at wholesale to other electric utility companies, rural electric cooperatives, municipalities and other market participants. The principal industries served include primary metals, transportation equipment, electrical and electronic machinery, fabricated metal products, rubber and chemicals and allied products, rubber products and transportation equipment. In addition to its AEP System interconnections, I&M is interconnected with the unaffiliated utility companies, which include Central Illinois Public Service Company, Duke Ohio, Commonwealth Edison Company, Consumers Energy Company, Illinois Power Company, Indianapolis Power & Light Company, Louisville Gas and Electric Company, Northern Indiana Public Service Company, Duke Indiana and Richmond Power & Light Company.

KPCo is engaged in the generation, transmission and distribution of electric power to approximately 175,000 retail customers in an area in eastern Kentucky, and in supplying and marketing electric power at wholesale to other electric utility companies, municipalities and other market participants. The principal industries served include petroleum refining, coal mining and chemical production. In addition to its AEP System interconnections, KPCo is interconnected with the unaffiliated utility companies, which include Kentucky Utilities Company and East Kentucky Power Cooperative Inc. KPCo is also interconnected with TVA.

KgPCo provides electric service to approximately 47,000 retail customers in Kingsport and eight neighboring communities in northeastern Tennessee. Kingsport Power Company does not own any generating facilities. It purchases electric power from APCo for distribution to its customers.

OPCo is engaged in the generation, transmission and distribution of electric power to approximately 710,000 retail customers in the northwestern, east central, eastern and southern sections of Ohio, and in supplying and marketing electric power at wholesale to other electric utility companies, municipalities and other market participants. The principal industries served include primary metals, chemical manufacturing, petroleum refining, and rubber and plastic

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COMPANY PROFILE

products. In addition to its AEP System interconnections, OPCo is interconnected with the unaffiliated utility companies, which include Duke Ohio, The Cleveland Electric Illuminating Company, DP&L, Duquesne Light Company, Kentucky Utilities Company, Monongahela Power Company, Ohio Edison Company, The Toledo Edison Company and West Penn Power Company.

PSO is engaged in the generation, transmission and distribution of electric power to approximately 531,000 retail customers in eastern and southwestern Oklahoma, and in supplying and marketing electric power at wholesale to other electric utility companies, municipalities, rural electric cooperatives and other market participants. The principal industries served by PSO are paper manufacturing and timber products, natural gas and oil extraction, transportation, non-metallic mineral production, oil refining and steel processing, In addition to its AEP System interconnections, PSO is interconnected with Empire District Electric Company, Oklahoma Gas and Electric Company, Southwestern Public Service Company and Westar Energy, Inc.

SWEPCo is engaged in the generation, transmission and distribution of electric power to approximately 474,000 retail customers in northeastern Texas, northwestern Louisiana and western Arkansas, and in supplying and marketing electric power at wholesale to other electric utility companies, municipalities, rural electric cooperatives and other market participants. The principal industries served by SWEPCo include natural gas and oil production, petroleum refining, manufacturing of pulp and paper, chemicals, food processing, and metal refining. The territory served by SWEPCo also includes several military installations, colleges and universities. SWEPCO also owns and operates a lignite coal mining operation. In addition to its AEP System interconnections, SWEPCo is interconnected with Cleco Corp., Empire District Electric Co., Entergy Corp. and Oklahoma Gas & Electric Co.

TCC is engaged in the transmission and distribution of electric power to approximately 766,000 retail customers through Texas retail electricity provider (REPs) in southern Texas. The principal industries served by TCC are chemical and petroleum refining, chemicals and allied products, oil and gas extraction, food processing, metal refining, plastics, and machinery equipment.

TNC is engaged in the transmission and distribution of electric power to approximately 185,000 retail customers through REPs in west and central Texas. The principal industries served by TNC are petroleum refining, agriculture and the manufacturing or processing of cotton seed products, oil products, precision and consumer metal products, meat products and gypsum products. The territory served by TNC also includes several military installations and correctional facilities.

WPCo provides electric service to approximately 41,000 retail customers in northern West Virginia. WPCo does not own any generating facilities. It purchases electric power from OPCo for distribution to its customers.

AEGCo is an electric generating company. AEGCo sells power at wholesale to I&M, CSPCo and KPCo.

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COMPANY PROFILE

American Express, Co. (AXP) Web Site: http://www.americanexpress.com/

American Express Company (American Express), incorporated in 1965, is a bank holding company. Its principal products and services are charge and credit payment card products and travel-related services offered to consumers and businesses around the world. American Express has four reportable segments: U.S. Card Services, International Card Services, Global Commercial Services (GCS), and Global Network & Merchant Services (GNMS). Its products and services include charge and credit card products, expense management products and services, consumer and business travel services, stored value products such as Travelers Cheques and other prepaid products, network services for the Company’s network partners, merchant acquisition and processing, point-of-sale, servicing and settlement and marketing and information products and services for merchants, and fee services, including market and trend analyses. They are sold globally to diverse customer groups, including consumers, small businesses, middle-market companies, and large corporations. Its operating subsidiary is American Express Travel Related Services Company, Inc. (TRS).

Global Network & Merchant Services (GNMS) GNMS segment operates a global general-purpose charge and credit card network for both Cards and Cards issued under the global network services business. It also manages merchant services globally, which includes signing merchants to accept Cards, as well as processing and settling Card transactions for those merchants. This segment also offers merchants point-of-sale, servicing and settlement and marketing and information products and services. Cards bearing its logo are issued by the principal operating subsidiary, TRS, the Company’s U.S. bank subsidiaries, American Express Centurion Bank (Centurion Bank) and American Express Bank, FSB (AEBFSB), and by other operating and bank subsidiaries outside the United States. In addition, they are also accepted at automated teller machines (ATM) locations worldwide.

American Express’ Global Network Services (GNS) business establishes and maintains relationships with banks and other institutions around the world that issue Cards and, in certain countries, acquire local merchants on the American Express network. Its Global Merchant Services (GMS) business provides the Company with access to transaction data through the closed-loop network, which encompasses relationships with both the Cardmember and the merchant. During the year ended December 31, 2009, GNS signed seven partners to issue Cards and/or acquire merchants on the American Express network. Additionally, GNS partners launched approximately 100 new products, bringing the total number of American Express-branded GNS partner products launched to approximately 1,030.

The GNS arrangements fall into three categories: Independent Operator Arrangements, Network Card License Arrangements and Joint Venture Arrangements. Independent Operator Arrangements (IO) had 65 of these arrangements, where IO partners own the customer relationships and credit risk for the Cards they issue. Network Card License Arrangements (NCL) had 61 of these arrangements, which grant the third-party financial institution a license to issue American Express-branded Cards. Joint Venture Arrangements (JV) is utilized in Switzerland and Belgium, where the Company joins with a third-party to establish a separate business, in which it has an ownership stake.

American Express operates a GMS business, which includes signing merchants to accept Cards, accepting and processing Card transactions, and settling with merchants that accept Cards for purchases made by Cardmembers with Cards (Charges). It also provides marketing, information and programs to merchants, leveraging the capabilities provided by its closed-loop structure, as well as point-of-sale products and servicing. Its American Express OnePoint solution is for small- and medium-sized merchants. This program simplifies card processing for small- and medium- sized merchants by providing them with a single source for statements, settlement and customer service. The Company competes with Visa, Master Card and Diners Club International.

U.S. Card Services American Express’ banking subsidiaries, Centurion Bank and AEBFSB, issue a range of Card products and services to consumers and small businesses in the United States. Its consumer travel business provides travel services to Cardmembers and other consumers. The Card business offers a set of card products. The Company offers individual consumer charge Cards, such as the American Express Card, the American Express Gold Card, the Platinum Card, and the ultra-premium Centurion Card; revolving credit Cards, such as Blue from American Express, Blue Cash Card from American Express and Blue Sky from American Express; and a variety of Cards sponsored by and co-branded

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COMPANY PROFILE with other corporations and institutions, such as the Delta SkyMiles Credit Card from American Express, True Earnings Card for Costco members, Starwood Preferred Guest Credit Card and JetBlue Card from American Express. The charge Cards, which generally carry no preset spending limits, are primarily designed as a method of payment and not as a means of financing purchases of goods or services. Charges are approved based on a variety of factors, including a Cardmember’s spending patterns, payment history, credit record, and financial resources. The charge Cards also offer flexible payment features to Cardmembers. The Sign & Travel program gives qualified United States Cardmembers the option of extended payments for airline, cruise and certain travel charges that are purchased with the Company’s charge Cards. The Extended Payment Option offers qualified United States Cardmembers the option of extending payment for certain charges on the charge Card in excess of a specified amount. During 2009, American Express launched two Card products to the charge Card portfolio: Premier Rewards Gold and ZYNC Card.

American Express offers a variety of revolving credit Cards. These Cards have a range of different payment terms, interest rate and fee structures, rewards programs and Cardmember benefits. Revolving credit Card products, such as Blue from American Express, Blue Cash from American Express and Blue Sky from American Express, provide Card members with the flexibility to pay their bill in full each month or carry a monthly balance on their Cards to finance the purchase of goods or services.

American Express issues Cards under co-brand agreements with selected commercial firms in the United States. The duration of its co-brand arrangements generally ranges from five to ten years. Cardmembers earn rewards provided by the partners’ respective loyalty programs based upon their spending on the co-brand Cards, such as frequent flyer miles, hotel loyalty points and cash back. The Company makes payments to its co-brand partners, based primarily on the amount of Cardmember spending and corresponding rewards earned, on such spending and, under certain arrangements, on the number of accounts acquired and retained.

The Company also is a provider of financial services to small businesses. American Express OPEN (OPEN) offers small business owners a range of tools, services and savings designed to meet their needs, including charge and credit cards, retail and travel protections, such as purchase protection and baggage insurance, travel services, expense management reporting, online account management capabilities, and community-driven Website, OPEN Forum. Cardmembers are automatically enrolled in OPEN Savings, a program that offers discounts for all OPEN customers on travel and other business expenses simply by using their American Express OPEN Card at participating companies.

International Card Service American Express issues its charge and credit Cards in numerous countries around the globe. These are Cards it issues, either on its own or, as co-brands with partnering institutions. During 2009, American Express launched Cards with SAS Scandinavian Airlines in Sweden, All Nippon Airways Co., Ltd. in Japan and The Express Rewards Credit Cards in the United Kingdom. It has more than 1,500 redemption partners across its international business, with an average of approximately 84 partners. Membership Travel Services International provides premium travel and concierge services to its Platinum and Centurion Customers, through 24 call centers in 23 international countries. Additionally, Membership Travel Services operates 16 Travel Service Offices in Mexico, Italy and Argentina to provide all Cardmembers with travel and general card service assistance. The Company also provides foreign exchange services in Mexico and Italy.

Global Commercial Services GCS segment provides expense management services to companies and organizations worldwide through Global Commercial Card and Global Travel Services. American Express is an issuer of commercial cards and is also a travel management company for corporations and businesses. During 2009, it added or retained several Commercial Card clients in the United States and internationally, including Affiliated Computer Services, Inc., International Business Machines Corporation, PepsiCo, Inc., Emerson Electric Co., Stryker, Tri-Pen Management Corporation and UPS. Additionally, during 2009, it added or retained several American Express Business Travel clients in the United States and internationally, including International Business Machines Corporation, Rio Tinto Limited, CBS Corporation, Zurich Insurance Company Ltd, and The Nielsen Company.

GCS offers a number of products and services, which include Corporate Card Programs and Business-to-Business Payment Solutions. Global Commercial Card (GCC) offers a range of expense management solutions to companies worldwide through its Corporate Card Programs and Business-to-Business Payment Solutions. The American

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COMPANY PROFILE

Express Corporate Card is a charge card that individuals obtain through a corporate account established by their employer for business purposes. Through its Corporate Card Program, companies can manage their travel, entertainment and purchasing expenses and improve negotiating leverage with suppliers. The Company issues local currency Corporate Cards in 41 countries and international dollar/Euro Corporate Cards in 84 countries. In addition, it provides Corporate Cards issued through its GNS partner relationships for presence in 31 additional countries.

Business-to-Business Payment Solutions to help companies manage non-T&E (or B2B) spending The Corporate Purchasing Card helps large corporations and mid-sized companies manage their everyday spending. vPayment allows corporate customers to make payments with data capture and reconciliation capabilities. vPayment offers companies single-use virtual account numbers. Buyer Initiated Payment allows American Express to pay B2B suppliers electronically on behalf of its clients, permitting them to manage payments. GCC also markets Commercial Card programs to middle-market companies. GCC offers the Savings at Work Program to mid-sized companies in the United States, as well as similar programs globally, which provides companies with cash back and/or discounted pricing on everyday business products and services, such as car rentals, hotels, restaurants and courier services.

Global Travel Services Global Travel Services (GTS) consists of American Express Business Travel and Global Foreign Exchange Services. American Express Business Travel (Business Travel) provides globally integrated solutions, both online and offline, to help organizations manage and optimize their travel investments and service their traveling employees. These solutions include travel reservation advice and transaction processing through a global network that is available around-the-clock; travel expense management policy consultation; meeting management, supplier negotiation and consultation; advisory services; management information reporting, data analysis and benchmarking; and group and incentive travel services. During 2009, American Express announced, with Maritz Travel, the launch of MaXvantageSM, an alliance to provide end-to-end strategic meetings management services to support a business’ entire meeting, event and incentive travel portfolio.

The Company competes with Citibank, Bank of America, JPMorgan Chase, and Capital One Financial.

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COMPANY PROFILE

AT&T, Inc. (T) Web Site: http://www.att.com/

AT&T Inc. (AT&T), incorporated in 1983, is a holding company. The Company provides telecommunications services in the United States and the world. It offers services and products to consumers in the United States and services and products to businesses and other providers of telecommunications services worldwide. The services and products that it offers vary by market, and include: wireless communications, local exchange services, long-distance services, data/broadband and Internet services, video services, telecommunications equipment, managed networking, wholesale services and directory advertising and publishing. The Company operates in four segments: Wireless, which provides both wireless voice and data communications services across the United States and, through roaming agreements, in a substantial number of foreign countries; wireline, which provides primarily landline voice and data communication services, AT&T U-Verse television, high-speed broadband and voice services (U-Verse) and managed networking to business customers; advertising solutions, which publishes Yellow and White Pages directories and sell directory advertising and Internet-based advertising and local search, and other, which provides results from all corporate and other operations. In September 2009, the Company acquired Plusmo, Inc., a provider of cross-platform mobile application solutions. In October 2009, the Company announced the acquisition of VeriSign's global security consulting business. In November 2009, the Company completed its acquisition of Centennial Communications Corp. In April 2010, AT&T Inc. sold its remaining stake of more than 7% in Tech Mahindra Limited. In June 2010, the Company completed the acquisition of wireless assets from Verizon Wireless. In July 2010, the Company divested its Wayport Holdings A/S to Hospitality Services Plus SA. In August 2010, the Company completed divestiture of Sterling Commerce to IBM.

Wireless Wireless consists of the Company’s subsidiary, AT&T Mobility, which operates as a wireless provider to both business and consumer customers. During the year ended December 31, 2009, the wireless segment provided approximately 43% of 2009 segment operating revenues. . As of December 31, 2009, it had more than 85 million wireless subscribers. The Company offers a range of wireless voice communications services in a range of pricing plans, including postpaid and prepaid service plans. The voice offerings are tailored to meet the communications needs of targeted customer segments, including youth, family, active professionals, small businesses, government and national corporate accounts. The voice service is offered on a contract basis for one or two year periods, referred to as postpaid. The wireless services include basic local wireless communications service, long-distance service and roaming services. Additionally, the Company offer prepaid service to meet the demands of distinct consumer segments, such as the youth market, families and small business customers, who prefer to control usage or pay in advance. The Company sells a range of handsets and personal computer wireless data cards manufactured by various suppliers for use with the voice and data services. It also sell accessories, such as carrying cases, hands-free devices, batteries, battery chargers and other items, to consumers, as well as to agents and other third-party distributors for resale.

Wireline The Company’s Wireline subsidiaries provide both retail and wholesale communication services domestically and internationally. Its Wireline segment provided approximately 52% of 2009 segment operating revenues. The Company divides its wireline services into three product-based categories: voice, data and other. Revenues from its traditional voice services have been declining as customers have been switching to wireless, cable and other Internet-based providers. Voice includes traditional local and long-distance service provided to retail customers and wholesale access to the network and individual network elements. As December 31, 2009, its wireline subsidiaries served approximately 26 million retail consumer access lines, 20 million retail business access lines and three million wholesale access lines. It also has a number of integrated voice and data services, such as integrated network connections, that provide customers the ability to integrate access for their voice and data services, the data component of which is included in the data category. Additionally, voice revenues do not include any of its voice over Internet protocol (VoIP) revenues, which are included in data revenues.

Long distance consists of traditional long distance and international long distance for customers that select the Company as their primary long-distance carrier. Long distance also includes services provided by calling card, 1-800 services and conference calling. These services are used in a range of business applications, including sales, reservation centers or customer service centers. AT&T also provides wholesale switched access service to other service providers. Voice also includes calling features, fees to maintain wire located inside customer premises and other miscellaneous voice products. Calling features are improved telephone services available to retail customers,

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COMPANY PROFILE such as caller identification (ID), call waiting and voice mail. Data includes traditional products, such as switched and dedicated transport, Internet access and network integration and data equipment sales, and U-verse services. Additionally, data products include high-speed connections, such as private lines, packet, dedicated Internet and enterprise networking services, as well as products, such as domain specific language (DSL)/broadband, dial-up Internet access and wireless fidelity (WiFi). AT&T also provides businesses voice applications over Internet protocol (IP) based networks, including enhanced virtual private networks (EVPN). The Company has built out new multi protocol label switching/asynchronous transfer mode, or multiprotocol label switching/ asynchronous transfer mode (MPLS/ATM) network, to supplement, and eventually replace, the other global data networks. These products allow to provide highly complex global data networks.

Private line uses digital circuits to transmit from point-to-point in multiple configurations and allows customers to create internal data networks and to access external data networks. Switched transport services transmit data using switching equipment to transfer the data between multiple lines before reaching its destination. Dedicated transport services use a single direct line to transmit data between destinations. DSL is a digital modem technology that converts existing twisted-pair telephone lines into access paths for multimedia and high-speed data communications to the Internet or private networks. DSL allows customers to simultaneously make a phone call and access information via the Internet or an office local area network. Digital Services use dedicated digital circuits to transmit digital data at various high rates of speed. Network integration services include installation of business data systems, local area networking and other data networking offerings. Internet access services include a range of products for residences and businesses, Internet services offered include basic dial-up access service, dedicated access, Web hosting, e-mail and high-speed access services. Its managed Web-hosting services for businesses provide network, server and security infrastructure, as well as built-in data storage and include application performance management, database management, hardware and operating system management. Its hosting services also provide customers with secure access to detailed reporting information about their infrastructure and applications. Packet services consist of data networks using packet switching and transmission technologies, including traditional circuit-based, and IP connectivity services. Dedicated Internet services are designed to meet the needs of all types of commercial and governmental enterprises, including small and medium sized businesses. Its managed Internet services provide customers with dedicated high-speed access to the Internet managed by the Company.

Enterprise networking services provide support from network design, implementation and installation to ongoing network operations and management for networks of varying scales, including local area networks, wide area networks and virtual private networks. These services include applications, such as e-mail, order entry systems, employee directories, human resource transactions and other database applications. The Company also provides local, interstate and international wholesale networking capacity to other service providers. It offers a combination of high-volume transmission capacity and conventional dedicated line services on a regional, national and international basis to wireless carriers, interexchange carriers, Internet service providers (ISPs) and facility-based and switchless resellers. Its wholesale customers are primarily ISPs, wireless carriers, competitive local exchange carriers (CLECs), regional phone companies, interexchange carriers, cable companies and systems integrators. The other services include application management, security service, integration services, customer premises equipment, outsourcing, government-related services, and satellite video services. Security services include business continuity and disaster recovery services, as well as premise and network based security products. Customer premises equipment and other equipment sales range from single-line and cordless telephones to the digital private branch exchange (PBX) systems. PBX is a private telephone switching system, typically used by businesses and usually located on a customer’s premises, which provides intra-premise telephone services, as well as access to its network.

Advertising Solutions The advertising solutions segment includes the directory operations, which publishes yellow and white pages directories and sells directory advertising and Internet-based advertising and local search. The advertising and publishing segment provided approximately 4% of total segment operating revenues of the 2009. This segment sells advertising services throughout the United States, with the print directory operations primarily covering the 22-state area.

The Company competes with Verizon Wireless, Sprint Nextel Corp., T-Mobile, Comcast Corporation, Cox Communications, Inc. and Time Warner Cable Inc.

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COMPANY PROFILE

Atmos Energy Corp. (ATO) Web Site: http://www.atmosenergy.com/

Atmos Energy Corporation (Atmos Energy) incorporated in 1983, is engaged primarily in the regulated natural gas distribution and transmission and storage businesses, as well as other non-regulated natural gas businesses. The Company distributes natural gas through regulated sales and transportation arrangements to over three million residential, commercial, public authority and industrial customers in 12 states located primarily in the South. It also operates an intrastate pipelines in Texas based on miles of pipe. Through its non-regulated businesses, Atmos Energy primarily provides natural gas management and marketing services to municipalities, other local gas distribution companies and industrial customers principally in the Midwest and Southeast and natural gas transportation along with storage services to certain of its natural gas distribution divisions and third parties. The Company operates in four segments: natural gas distribution segment, which includes its regulated natural gas distribution and related sales operations; regulated transmission and storage segment, which includes the regulated pipeline and storage operations of its Atmos Pipeline-Texas Division; natural gas marketing segment, which includes a variety of non-regulated natural gas management services, and pipeline, storage and other segment, which is comprised of its non-regulated natural gas gathering, transmission and storage services.

Natural Gas Distribution The Company’s natural gas distribution segment consists of six regulated divisions: Atmos Energy Mid-Tex Division, Atmos Energy Kentucky/Mid-States Division, Atmos Energy Louisiana Division, Atmos Energy West Texas Division, Atmos Energy Colorado-Kansas Division and Atmos Energy Mississippi Division. Its Kentucky/Mid-States Division operates in more than 420 communities across Georgia, Illinois, Iowa, Kentucky, Missouri, Tennessee and Virginia. The service areas in these states are primarily rural; however, this division serves Franklin, Tennessee, and other suburban areas of Nashville. In Louisiana, Atmos Energy serves nearly 300 communities, including the suburban areas of New Orleans, the metropolitan area of Monroe and western Louisiana. Its West Texas Division serves approximately 80 communities in West Texas, including the Amarillo, Lubbock and Midland areas. Its Colorado- Kansas Division serves approximately 170 communities throughout Colorado and Kansas and parts of Missouri, including the cities of Olathe, Kansas, a suburb of Kansas City and Greeley, Colorado, located near Denver. In Mississippi, the Company serves about 110 communities throughout the northern half of the state, including the Jackson metropolitan area.

Regulated Transmission and Storage Atmos Energy’s regulated transmission and storage segment consists of the regulated pipeline and storage operations of its Atmos Pipeline-Texas Division. This division transports natural gas to its Mid-Tex Division, transports natural gas for third parties and manages five underground storage reservoirs in Texas. We also provide ancillary services customary in the pipeline industry including parking arrangements, lending and sales of excess gas. Lending services provide short-term interruptible loans of natural gas from its pipeline to meet market demands.

Natural Gas Marketing The Company’s natural gas marketing activities are conducted through Atmos Energy Marketing (AEM), which is wholly owned by Atmos Energy Holdings, Inc. (AEH). AEH is a wholly owned subsidiary of AEC and operates primarily in the Midwest and Southeast areas of the United States. AEM’s primary business is to aggregate and purchase gas supply, arrange transportation and storage logistics and deliver gas to customers.

Pipeline, Storage and Other The Company’s pipeline, storage and other segment primarily consists of the operations of Atmos Pipeline and Storage, LLC (APS), which is wholly owned by AEH. APS is engaged in non-regulated transmission, storage and natural gas gathering services. Its primary asset is a proprietary 21 mile pipeline located in New Orleans, Louisiana. It also owns or controls additional pipeline and storage capacity including interests in underground storage fields in Kentucky and Louisiana. APS’ primary business is to provide storage and transportation services to its Louisiana and Kentucky/Mid-States regulated natural gas distribution divisions.

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COMPANY PROFILE

Barrick Gold Corp. (ABX) Web Site: http://www.barrick.com/

Barrick Gold Corporation (Barrick) is engaged the production and sale of gold, as well as related activities, such as exploration and mine development. Barrick also produces copper, and hold interests in oil and gas properties located in Canada. Its producing mines are concentrated in four regional business units: North America, South America, Africa and Australia Pacific. In addition, it has a Capital Projects segment, distinct from its regional business units, to focus on managing projects. On September 17, 2009, the Company completed the acquisition of 50% interest in the Valhalla oil and gas field. On April 22, 2009, it completed the acquisition of the remaining 50% interest in the Williams and David Bell gold mines (Hemlo) in Canada from Teck Resources Ltd., thereby increasing its interest to 100%.

North America Barrick’s North America producing region consists of nine operating mines: Goldstrike, Round Mountain, Bald Mountain, Cortez, Turquoise Ridge, Golden Sunlight, Ruby Hill and Marigold mine in the United States, and Hemlo in Canada. The North American region has 50.6 million ounces of proven and probable gold reserves1, which represents 37% of the Company’s total reserves. The region has two advanced projects in construction: the Cortez Hills expansion project in Nevada and the Pueblo Viejo joint-venture (60%) in the Dominican Republic.

South America Barrick’s South America region consists of the Pierina and Lagunas Norte gold mines in Peru; the Veladero gold mine in Argentina; the Zaldivar copper mine in Chile; the Cerro Casale project in Chile, and the Pascua-Lama project straddling the Argentina-Chile border. This region hosts 50.5 million ounces of gold or 36% of the Company’s overall proven and probable gold reserves.

Australia Pacific Barrick’s Australia Pacific region is headquartered in Perth, Western Australia and consists of nine operating mines: Kalgoorlie (50% interest); Kanowna, Plutonic, and Yilgarn South (Granny Smith, Darlot and Lawlers) in Western Australia; Cowal in New South Wales; the Osborne copper-gold mine in Queensland, and Porgera (95%) in Papua New Guinea. Barrick has access to over 5,300 square kilometers of contiguous ground for exploration. The Australia Pacific region also includes the Reko Diq project, a copper-gold porphyry mineral resource on the Tethyan belt, located in southwest Pakistan in the province of Balochistan.

Africa Barrick’s Africa region consists of four operating mines and one project: the North Mara, Bulyanhulu, Tulawaka and Buzwagi mines, and the Kabanga nickel joint-venture project with Xstrata plc in Tanzania. The region hosts 18.4 million ounces of proven and probable gold reserves.

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COMPANY PROFILE

Chevron Corp. (CVX) Web Site: http://www.chevron.com

Chevron Corporation (Chevron), incorporated in 1926, manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to United States and international subsidiaries that engage in fully integrated petroleum operations, chemicals operations, mining operations, power generation and energy services. Exploration and production (upstream) operations consist of exploring for, developing and producing crude oil and natural gas, and also marketing natural gas. Refining, marketing and transportation (downstream) operations relate to refining crude oil and converting natural gas into finished petroleum products; marketing crude oil and the many products derived from petroleum, and transporting crude oil, natural gas and petroleum products by pipeline, marine vessel, motor equipment and rail car. Chemicals operations include the manufacture and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant oil additives. The upstream, downstream and chemicals activities of the Company are widely dispersed geographically, with operations in North America, South America, Europe, Africa, the Middle East, Asia and Australia.

In February 2010, the Company sold its 10% interest in the Laggan/Tormore discovery. During the year ended December 31, 2009, it sold its businesses in Brazil, Haiti, Nigeria, Benin, Cameroon, Republic of the Congo, Côte d’Ivoire, Togo, Kenya, Uganda, India, Italy, Peru and Chile. In April 2009, Reliance Industries Limited bought back Chevron Corporation's 5% stake in Reliance Petroleum Limited. In June 2009, TOTAL S.A. completed its takeover of Chevron's operations in Kenya. Following the acquisition, Chevron Kenya Ltd. will change its name to Total Marketing Kenya. In June 2009, the Company's subsidiary, Chevron Africa Holdings Ltd., completed the sale of Texaco Cameroun S.A. to Corlay Global S.A.

Exploration and Production As of December 31, 2009, the Company owned or had under lease or similar agreements undeveloped and developed crude-oil and natural-gas properties located worldwide. The company sells crude oil and natural gas from its producing operations under a variety of contractual obligations. Chevron has production and exploration activities in world’s major hydrocarbon basins. Upstream activities in the United States are concentrated in California, the Gulf of Mexico, Louisiana, Texas, New Mexico, the Rocky Mountains and Alaska. In California, the Company has significant production in the San Joaquin Valley.

In 2009, average net oil-equivalent production was 211,000 barrels per day, composed of 191,000 barrels of crude oil, 91 million cubic feet of natural gas and 5,000 barrels of natural gas liquids. Approximately 84% of the crude-oil production is considered heavy oil. Average net oil-equivalent production during 2009 for the Company’s combined interests in the Gulf of Mexico shelf and deepwater areas, and the onshore fields in the region was 243,000 barrels per day. The daily oil-equivalent production consisted of 149,000 barrels of crude oil, 484 million cubic feet of natural gas and 14,000 barrels of natural gas liquids. During 2009, Chevron was engaged in various development and exploration activities in the deepwater Gulf of Mexico. The Company had a 60% owned and operated interest in Big Foot. The Jack and St. Malo fields are located within 25 miles of each other and are being considered for joint development. Chevron has a 50%owned interest in Jack and a 51% owned interest in St. Malo.

In Africa, the Company is engaged in exploration and production activities in Angola, Chad, Democratic Republic of the Congo, Nigeria and Republic of the Congo. Net oil-equivalent production in Africa averaged 433,000 barrels per day during 2009. Chevron holds company-operated working interests in offshore Blocks 0 and 14 and nonoperated working interests in offshore Block 2 and the onshore Fina Sonangol Texaco (FST) area. Net production from these operations in 2009 averaged 150,000 barrels of oil-equivalent per day. In the 31% owned Block 14, net production in 2009 averaged 33,000 barrels of liquids per day from the Benguela Belize-Lobito Tomboco development and the Kuito, Tombua and Landana fields. The 39.2% owned and operated Malongo Terminal Oil Export project was completed in November 2009.

Chevron operates and holds a 31.3% interest in the Lianzi Development Area located between Angola and Republic of the Congo. Chevron has a 31.5% nonoperated working interest in the Nkossa, Nsoko and Moho-Bilondo exploitation permits and a 29.3% nonoperated working interest in the Kitina exploitation permit, all of which are offshore. Chevron holds a 40% interest in 13 concessions in the onshore and near-offshore region of the Niger Delta. It operates under a joint-venture arrangement in this region with the Nigerian National Petroleum Corporation, which owns a 60% interest. It also owns varying interests in deepwater offshore blocks.

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COMPANY PROFILE

Chevron holds a 10.3% nonoperated working interest in the Azerbaijan International Operating Company (AIOC), which produces crude oil in the Caspian Sea from the Azeri-Chirag-Gunashli (ACG) project. Chevron holds a 20% nonoperated working interest in the Karachaganak project, which is being developed in phases. Chevron holds a 25% nonoperated working interest in the Silopi licenses in southeast Turkey, which is on trend with production in Iraq’s northern Zagros Fold Belt. Chevron holds interests in three operated PSCs covering onshore Blocks 12, 13 and 14 and offshore Block 7.

Chevron operates the 1.2 million-acre Block A, located offshore in the Gulf of Thailand. It has a 28.3% nonoperated working interest in a PSC for the production of natural gas from the Yadana and Sein fields offshore in the Andaman Sea. Chevron has operated and nonoperated working interests in several different offshore blocks. During 2009, 14 exploration wells were drilled in the Gulf of Thailand, 13 were successful and one nonoperated well in the Arthit Field was unsuccessful. It operates off the southwest coast and has a 42.4% interest in a PSC that includes Blocks B and 48/95, and a 43.4% interest in another PSC for Block 52/97. Chevron has one operated and three nonoperated working interests in several areas in China. Chevron’s operated interests in Indonesia are managed by several wholly owned subsidiaries, including PT Chevron Pacific Indonesia (CPI).

The Company holds a 45% nonoperated working interest in the Malampaya natural-gas field located 50 miles offshore Palawan Island. Chevron has a 16.7% nonoperated working interest in the North West Shelf (NWS) Venture offshore Western Australia. Chevron holds operated interests in eight concessions in the Neuquen Basin. Chevron holds working interests in three deepwater blocks in the Campos Basin. Chevron also holds a nonoperated working interest in one block in the Santos Basin. It operates in two exploratory blocks offshore Plataforma Deltana, with working interests of 60% in Block 2 and 100% in Block 3. Chevron also holds a 100% operated interest in the Cardon III exploratory block, located north of Lake Maracaibo in the Gulf of Venezuela. Chevron has a 15% working interest in the partner-operated Danish Underground Consortium (DUC), which produces crude oil and natural gas from 15 fields in the Danish North Sea. It holds a 7.6% interest in the partner-operated Draugen Field. The company’s net production averaged 5,000 barrels of oil-equivalent per day during 2009.

Refining, Marketing and Transportation The Company’s refineries in the United States, the United Kingdom, Canada, South Africa and Australia produce low- sulfur fuels. It markets petroleum products under the brands of Chevron, Texaco and Caltex worldwide. During 2009, the Company supplied directly or through retailers and marketers approximately 9,600 Chevron- and Texaco-branded motor vehicle service stations, primarily in the mid-Atlantic, southern and western states. Approximately 500 of these outlets are company-owned or leased stations.

Outside the United States, Chevron supplied directly or through retailers and marketers approximately 12,400 branded service stations, including affiliates. In British Columbia, Canada, the Company markets under the Chevron brand. It markets in the United Kingdom, Ireland, Latin America and the Caribbean using the Texaco brand. In the Asia-Pacific region, southern Africa, Egypt and Pakistan, it uses the Caltex brand. Chevron owns and operates a network of crude-oil, refined-product, chemicals, natural-gas-liquids (NGL) and natural-gas pipelines and other infrastructure assets in the United States. It also has direct or indirect interests in other United States and international pipelines. The foreign-flagged vessels are engaged primarily in transporting crude oil from the Middle East, Asia, the Black Sea, Mexico and West Africa to ports in the United States, Europe, Australia and Asia. Its foreign-flagged vessels also transport refined products to and from various locations worldwide.

Chemicals Chevron Phillips Chemical Company LLC (CPChem) is equally owned with ConocoPhillips Corporation. At December 31, 2009, CPChem owned or had joint venture interests in 34 manufacturing facilities and five research and technical centers in Belgium, Brazil, China, Colombia, Qatar, Saudi Arabia, Singapore, South Korea and the United States. During 2009, CPChem completed construction of the 22 million-pounds-per-year Ryton polyphenylene-sulfide (PPS) manufacturing facility at Borger, Texas. Ryton PPS is an engineering thermoplastic used in a variety of applications, including automotives and electronics.

CPChem continued construction during 2009 on the 49% owned Q-Chem II project in Mesaieed and Ras Laffan, Qatar. The project includes a 350,000-metric-ton-per-year polyethylene plant and a 345,000-metric-ton-per-year normal alpha olefins plant, each utilizing CPChem’s technology, and is located adjacent to the existing Q-Chem I

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COMPANY PROFILE complex. Q-Chem II also includes a separate joint venture to develop a 1.3 million-metric-ton-per-year ethylene cracker in Ras Laffan, in which Q-Chem II owns 54% of the capacity rights.

Chevron’s Oronite brand lubricant and fuel additives business is a developer, manufacturer and marketer of performance additives for lubricating oils and fuels. The Company owns and operates facilities in Brazil, France, Japan, the Netherlands, Singapore and the United States and has equity interests in facilities in India and Mexico. Oronite provides additives for lubricating oil in most engine applications, such as passenger car, heavy-duty diesel, marine, locomotive and motorcycle engines, and additives for fuels to improve engine performance and extend engine life.

Other Businesses Chevron’s mining companies in the United States produce and market coal and molybdenum. Sales occur in both United States and international markets. The Company owns and operates surface coal mine in Kemmerer, Wyoming, an underground coal mine, North River, in Alabama, and a surface coal mine in McKinley, New Mexico. The Company also owns a 50% interest in Youngs Creek Mining Company LLC, which was formed to develop a coal mine in northern Wyoming. The Company’s coal sales from wholly owned mines in 2009 were 10 million tons. At December 31, 2009, Chevron controlled approximately 193 million tons of proven and probable coal reserves in the United States, including reserves of low-sulfur coal. The Company is contractually committed to deliver between 7 million and 9 million tons of coal per year through the end of 2012.

Chevron, in addition to the coal operations, owns and operates the Questa molybdenum mine in New Mexico. At December 31, 2009, Chevron controlled approximately 53 million pounds of proven molybdenum reserves at Questa. Chevron’s power generation business has interests in 13 power assets with a total operating capacity of more than 3,100 megawatts, primarily through joint ventures in the United States and Asia. The 100% owned and operated Casper Wind Farm is a small-scale wind power facility designed to use decommissioned refinery site for delivery of energy to the local utility provider.

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COMPANY PROFILE

Clorox Co. (CLX) Web Site: http://www.thecloroxcompany.com/

The Clorox Company (Clorox) is a manufacturer and marketer of consumer and institutional products. The Company sells its products primarily through mass merchandisers, grocery stores and other retail outlets. It markets some brand names, including its namesake bleach and cleaning products, Green Works natural cleaning and laundry products, Poett and Mistolin cleaning products, Armor All and STP auto-care products, Fresh Step and Scoop Away cat litter, Kingsford charcoal, Hidden Valley and K C Masterpiece dressings and sauces, Brita water-filtration systems, Glad bags, wraps and containers, and Burt’s Bees natural personal care products. The Company’s products are manufactured in more than two dozen countries and sold in more than 100 countries. The Company operates through four segments: Cleaning, Lifestyle, Household and International.

Cleaning consists of laundry, home-care, professional products and auto-care products marketed and sold in the United States. Products within this segment include laundry additives, including bleaches under the Clorox brand and Clorox 2 stain fighter and color booster; home-care products, primarily under the Clorox, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S and Tilex brands; cleaning and laundry products under the Green Works brand, and auto-care products primarily under the Armor All and STP brands. Household consists of charcoal, cat litter and plastic bags, wraps and container products marketed and sold in the United States. Products within this segment include plastic bags, wraps and containers, under the Glad brand; cat litter products, under the Fresh Step, Scoop Away and Ever Clean brands, and charcoal products under the Kingsford and Match Light brands.

Lifestyle consists of food products, water-filtration systems and filters marketed and sold in the United States and all natural personal care products. Products within this segment include dressings and sauces, primarily under the Hidden Valley and K C Masterpiece brands; water-filtration systems and filters under the Brita brand, and all natural personal care products under the Burt’s Bees brand. International consists of products sold outside the United States, excluding natural personal care products. These products include home-care, laundry, auto-care, water filtration, charcoal and cat litter products, dressings and sauces, plastic bags, wraps and containers, and insecticides, primarily under the Clorox, Javex, Glad, PinoLuz, Ayudin, Limpido, Clorinda, Poett, Mistolin, Lestoil, Bon Bril, Nevex, Brita, Armor All, STP, Green Works, Sabra, Pine-Sol, Agua Jane, Ever Clean, Chux, Kingsford and Hidden Valley brands.

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COMPANY PROFILE

Cognizant Technology Solutions Corp. (CTSH) Web Site: http://www.cognizant.com/

Cognizant Technology Solutions Corporation is a provider of custom information technology (IT) consulting and technology services, and outsourcing services. The Company’s customers are primarily Global 2000 companies located in North America, Europe and Asia. The Company’s competencies include Technology Consulting, Complex Systems Development and Integration, Enterprise Software Package Implementation and Maintenance, Data Warehousing, Business Intelligence and Analytics, Application Testing, Application Maintenance, Infrastructure Management, and Business and Knowledge Process Outsourcing (BPO and KPO). The Company operates in four segments: Financial Services, Healthcare, Manufacturing, Retail and Logistics, and Other, which includes Communications, Information, Media and Entertainment and High Technology.

Financial Services During the year ended December 31, 2009, the Company’s Financial Services business segment represented approximately 42.9% of its total revenues. This business segment provides services to its customers operating in the industries, such as banking and insurance. It focuses on traditional retail and commercial banks, and diversified financial enterprises. The Company assists these clients in areas, such as consumer lending, cards and payments, wholesale banking, risk management, investment management, corporate services, and retail banking. It also focuses on the needs of broker / dealers, asset management firms, depositories, clearing organizations and exchanges. Key areas where it helps these clients in both driving efficiencies and establishing new capabilities include: front office, middle office, back office, sales and brokerage, research, exchange operations, and prime brokerage solutions. The Company assists with the needs of property and casualty insurers, life insurers, reinsurance firms and insurance brokers. It focuses on areas, such as business acquisition, policy administration, claims processing, management reporting, regulatory compliance and reinsurance.

Healthcare During 2009, the Company’s Healthcare business segment represented approximately 26.3% of its total revenues. This business segment provides services to its customers operating in industries, including healthcare and life sciences. The Company’s healthcare service teams focus on the industry solutions, such as broker compensation, sales and underwriting systems, provider management, plan sponsor administration, electronic enrollment, membership, billing, claims processing, medical management and pharmacy benefit management. Some of its Life Sciences solutions include prescriber behavior analysis and insight, longitudinal prescription data management systems, sales force compensation systems, sales data and claims data management systems, clinical trial solutions, 21CFR11 assessment and computer systems validation, data mining and business intelligence solutions, e-business and data portals, and ERP implementation, upgrade, and maintenance services.

Manufacturing / Retail / Logistics During 2009, the Company’s Manufacturing, Logistics and Retail business segment represented approximately 17.2% of its total revenues. This business segment services customers in industry groups, such as manufacturing and logistics, and retail and hospitality. Some of its manufacturing and logistics solutions include supply chain management, warehouse and yard management, waste management, transportation management, optimization, portals and ERP solutions. Cognizant serves a range of retailers and distributors, including supermarkets, specialty premium retailers and mass-merchandise discounters.

Other In 2009, the Company’s Other business segment represented approximately 13.6% of its total revenues. The Company’s communications industry practice serves communications service providers, equipment vendors and software vendors. The Company’s industry-specific solutions, includes OSS / BSS Implementation, Network Management Services, Mobile Applications, Conformance Testing, Product Lifecycle Management, Product Implementation, Portals, Business Activity Monitoring, Mobile Systems Integration, Broadband Evolution Services and Billing Quality Assurance.

The Company competes with Infosys Technologies, Tata Consultancy Services, WIPRO, Accenture, Computer Sciences Corporation, HP Enterprise, Perot Systems and IBM Global Services.

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COMPANY PROFILE

CVS Caremark Corp. (CVS) Web Site: http://www.cvs.com/

CVS Caremark Corporation (CVS Caremark) is a health care provider in the United States. It is a pharmacy services company and provides value for its customers by managing pharmaceutical costs and improving health care outcomes through its pharmacy benefit management, mail order and specialty pharmacy division, Caremark Pharmacy Services; approximately 7,000 CVS/pharmacy retail stores; retail-based health clinic subsidiary, MinuteClinic, and through its online pharmacy, CVS.com. The Company operates in two business segments: Pharmacy Services segment and Retail Pharmacy segment.

Pharmacy Services The Pharmacy Services segment provides a range of prescription benefit management (PBM) services, including mail order pharmacy services, specialty pharmacy services, plan design and administration, formulary management and claims processing. Its customers are primarily employers, insurance companies, unions, government employee groups, managed care organizations and other sponsors of health benefit plans and individuals throughout the United States. In addition, through its SilverScript Insurance Company (SilverScript) and Accendo Insurance Company (Accendo) subsidiaries, the Company is a national provider of drug benefits to eligible beneficiaries under the Federal Government’s Medicare Part D program. The pharmacy services business operates under the Caremark Pharmacy Services, Caremark, CVS Caremark, CarePlus CVS/pharmacy, CarePlus, RxAmerica, AccordantCare and TheraCom names. As of December 31, 2009, the Pharmacy Services segment operated 49 retail specialty pharmacy stores, 18 specialty mail order pharmacies and six mail service pharmacies located in 25 states, Puerto Rico and the District of Columbia.

As of December 31, 2009, the Company operated six automated mail service pharmacies in the continental United States. It also operates a network of smaller mail service specialty pharmacies. The Company’s specialty pharmacies comprise of 18 specialty mail order pharmacies located throughout the United States and are used for delivery of advanced medications to individuals with chronic or genetic diseases and disorders. As of December 31, 2009, the Company operated a network of 49 retail specialty pharmacy stores, which operate under the CarePlus CVS/pharmacy name. These stores average 2,000 square feet in size and sell prescription drugs and a limited assortment of front store items such as alternative medications, homeopathic remedies and vitamins.

The Company operates a limited number of small pharmacies located at client sites under the CarePlus CVS/pharmacy, CVS/pharmacy or CarePlus name, which provide members with an alternative for filling their prescriptions. The Company maintains a national network of approximately 64,000 retail pharmacies, including CVS/pharmacy and Longs Drug stores. Its AccordantCare health management programs include integrated disease management programs, which cover diseases such as rheumatoid arthritis, Parkinson’s disease, seizure disorders and multiple sclerosis.

Retail Pharmacy As of December 31, 2009, the Retail Pharmacy Segment included 7,025 retail drugstores, of which 6,964 operated a pharmacy, its online retail Website, CVS.com and its retail health care clinics. The retail drugstores are located in 41 states and the District of Columbia operating primarily under the CVS/pharmacy. CVS/pharmacy stores sell prescription drugs and a wide assortment of general merchandise, which it refers to as front store products. As of December 31, 2009, it operated 569 retail health care clinics in 25 states under the MinuteClinic name, of which 557 were located within CVS/pharmacy stores. The CVS/pharmacy store sells prescription drugs and a wide assortment of nationally advertised brand name and private label merchandise. Its front store categories include over-the-counter drugs, beauty products and cosmetics, film and photo finishing services, seasonal merchandise, greeting cards and convenience foods.

The Company competes with Medco Health Solutions, Inc., Express Scripts, Inc., UnitedHealthcare, Aetna and CIGNA.

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COMPANY PROFILE

Dominion Resources, Inc. (D) Web Site: http://www.dom.com/

Dominion Resources, Inc. (Dominion), incorporated in 1983, is a producer and transporter of energy. The Company’s portfolio of assets includes approximately 27,500 megawatts of generation; 6,000 miles of electric transmission lines; 56,000 miles of electric distribution lines in Virginia and North Carolina; 12,000 miles of natural gas transmission, gathering and storage pipeline; 21,700 miles of gas distribution pipeline, exclusive of service lines of two inches in diameter or less, and 1.3 trillion cubic feet equivalent of natural gas and oil reserves. Dominion also owns the underground natural gas storage system and operates over 942 billion cubic feet of storage capacity and serves retail energy customers in 12 states. The Company operates in three segments: Dominion Virginia Power (DVP), Dominion Energy and Dominion Generation. In February 2010, the Company announced that it has completed the sale of Dominion Peoples, its Pennsylvania natural gas distribution company, to PNG Companies LLC.

DVP DVP includes the Company’s regulated electric transmission and distribution operations, as well as its non-regulated retail energy marketing operations. Dominion’s retail energy marketing operations compete against incumbent utilities and other energy marketers in nonregulated energy markets for natural gas and electricity. The supply of electricity to serve Dominion’s retail energy marketing customers is procured through market wholesalers and RTO or ISO transactions and its supply of gas to serve its customers is procured through market wholesalers or by Dominion Energy. DVP has approximately 6,000 miles of electric transmission lines of 69 kilovolt or more located in the states of North Carolina, Virginia and West Virginia.

Dominion Energy Dominion Energy includes the Company’s Ohio regulated natural gas distribution company, regulated gas transmission pipeline and storage operations, regulated liquefied natural gas (LNG) operations and its Appalachian natural gas exploration and production (E&P) operations. Dominion Energy also includes producer services, which aggregates natural gas supply, engages in natural gas trading and marketing activities and natural gas supply management and provides price risk management services to Dominion affiliates. The gas transmission pipeline and storage business serves Dominion’s gas distribution businesses and other customers in the Northeast, mid-Atlantic and Midwest. Its gas distribution operations serve residential, commercial and industrial gas sales and transportation customers in Ohio and West Virginia. Dominion Energy’s gas distribution network is located in the state of Ohio and West Virginia. This network involves approximately 21,700 miles of pipe, exclusive of service lines of two inches in diameter or less. Dominion Energy has approximately 12,000 miles of gas transmission, gathering and storage pipelines located in the states of Maryland, New York, Ohio, Pennsylvania, Virginia and West Virginia.

Dominion Energy operates 20 underground gas storage fields located in New York, Ohio, Pennsylvania and West Virginia, with more than 2,000 storage wells and approximately 349,000 acres of operated leaseholds. Dominion Energy also owns about 1.3 trillion cubic feet of natural gas and oil reserves and produces approximately 137 million cubic feet equivalent of natural gas and oil per day from its leasehold acreage and facility investments in Appalachia.

Dominion Generation Dominion Generation includes the generation operations of the Company’s merchant fleet and energy marketing and price risk management activities for its generation assets. The generation facilities of its merchant fleet are located in Connecticut, Illinois, Indiana, Massachusetts, Pennsylvania, Rhode Island, West Virginia and Wisconsin. The Generation operating segment of Dominion derives its earnings primarily from the sale of electricity generated by Virginia Power’s utility and Dominion’s merchant generation assets, as well as associated capacity from Dominion’s merchant generation assets.

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COMPANY PROFILE

Duke Energy Corp. (DUK) Web Site: http://www.duke-energy.com

Duke Energy Corporation (Duke Energy) is an energy company that provides its services through three business segments. The Company’s business segments are U.S. Franchised Electric and Gas, Commercial Power and International Energy. In June 2009, Duke Energy completed the purchase of the remaining approximately 24% noncontrolling interest in the Aguaytia Integrated Energy Project (Aguaytia), located in Peru. In June 2009, Duke Energy acquired North Allegheny Wind, LLC (North Allegheny) in Western Pennsylvania.

U.S. Franchised Electric and Gas U.S. Franchised Electric and Gas generates, transmits, distributes and sells electricity in central and western North Carolina, western South Carolina, southwestern Ohio, central, north central and southern Indiana, and northern Kentucky. U.S. Franchised Electric and Gas also transports and sells natural gas in southwestern Ohio and northern Kentucky. It conducts operations primarily through Duke Energy Carolinas, LLC (Duke Energy Carolinas); Duke Energy Ohio, Inc. (Duke Energy Ohio); Duke Energy Indiana, Inc. (Duke Energy Indiana), and Duke Energy Kentucky, Inc. (Duke Energy Kentucky).

U.S. Franchised Electric and Gas supplies electric services to approximately 4 million residential, commercial and industrial customers over 151,600 miles of distribution lines and a 20,900-mile transmission system. U.S. Franchised Electric and Gas provides domestic regulated transmission and distribution services for natural gas to approximately 500,000 customers via approximately 7,200 miles of gas mains (gas distribution lines that serve as a common source of supply for more than one service line) and approximately 6,000 miles of service lines. Electricity is also sold wholesale to incorporated municipalities and to public and private utilities.

Electric energy for U.S. Franchised Electric and Gas customers is generated by three nuclear generating stations with a combined net capacity of 5,173 megawatts (including Duke Energy’s 19% ownership in the Catawba Nuclear Station), 15 coal-fired stations with a combined net capacity of 13,189 megawatts (including Duke Energy’s 69% ownership in the East Bend Steam Station and 50.05% ownership in Unit 5 of the Gibson Steam Station), 31 hydroelectric stations (including two pumped-storage facilities) with a combined net capacity of 3,263 megawatts, 15 combustion turbine (CT) stations burning natural gas, oil or other fuels with a combined net capacity of 5,047 megawatts and one combined cycle (CC) stations burning natural gas with a net capacity of 285 megawatts.

Commercial Power Commercial Power owns, operates and manages power plants and engages in the wholesale marketing and procurement of electric power, fuel and emission allowances related to these plants, as well as other contractual positions. Commercial Power’s assets comprise approximately 7,550 megawatts of power generation primarily located in the Midwestern United States. The asset portfolio has a fuel mix with baseload and mid-merit, coal-fired units, as well as combined cycle and peaking natural gas-fired units. Effective January 1, 2009, Commercial Power began operating under an electric security plan (ESP), which expires on December 31, 2011. Commercial Power also has a retail sales subsidiary, Duke Energy Retail Sales (DERS).

Commercial Power, through Duke Energy Generation Services, Inc. and its affiliates (DEGS), develops, owns and operates electric generation for large energy consumers, municipalities, utilities and industrial facilities. DEGS manages 6,150 Megawatts of power generation at 21 facilities throughout the United States. In addition, DEGS engages in the development, construction and operation of wind energy projects. As of December 31, 2009, DEGS has over 5,000 Megawatts of wind energy projects in the development pipeline with approximately 735 net Megawatts of wind generating capacity in operation. DEGS is also developing transmission, solar and biomass projects.

International Energy International Energy owns, operates, and manages power generation facilities and engages in sales and marketing of electric power and natural gas outside the United States. It conducts operations primarily through Duke Energy International, LLC (DEI) and its activities target power generation in Latin America. International Energy also engages in the production of natural liquid gas and methanol and methyl tertiary butyl ether (MTBE). International Energy’s customers include retail distributors, electric utilities, independent power producers, marketers and industrial/commercial companies. International Energy owns, operates or has substantial interests in approximately 4,000 net Megawatts of generation facilities as of December 31, 2009.

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COMPANY PROFILE

Emerson Electric Co. (EMR) Web Site: http://www.emersonelectric.com/

Emerson Electric Co. (Emerson), incorporated in 1890, is a diversified global technology company. The Company is engaged in designing and supplying product technology and delivering engineering services and solutions in a range of industrial, commercial and consumer markets around the world. The Company operates in five business segments: Process Management, Industrial Automation, Network Power, Climate Technologies and Tools and Storage. The Process Management segment provides measurement, control and diagnostic capabilities for automated industrial processes producing items, such as foods, fuels, medicines and power. The Industrial Automation segment provides integrated manufacturing solutions to diverse industries worldwide. The Network Power segment provides power conditioning and environmental control to help keep telecommunication systems, data networks and other critical business applications continuously operating. The Climate Technologies segment provides household and commercial comfort, as well as food safety and energy efficiency through air conditioning and refrigeration technology. The Tools and Storage segment provides tools for professionals and homeowners, home and commercial storage systems, and appliance solutions.

In January 2010, the Company announced the combination of its Aperture Technologies Inc (Aperture) and Avocent businesses into a new division. The new division is part of Emerson Network Power. The unit combines Avocent’s management systems division, which offers access and control of the physical aspects of network devices and servers, with Aperture’s infrastructure software for a portfolio of data center infrastructure management solutions.

Process Management Process Management segment offers customers product technology, as well as engineering and project management services for precision control, monitoring and asset optimization of oil and gas reservoirs and plants that produce power or that process or treat such items as oil, natural gas and petrochemicals; food and beverages; pulp and paper; pharmaceuticals; and municipal water supplies. Process Management systems and software control plant processes by collecting and analyzing information from measurement devices in the plant, and then using that information to adjust valves, pumps, motors, drives and other control hardware. Software capabilities also include upstream oil and gas reservoir simulation and modeling for production optimization. Emerson’s process control systems can be extended wirelessly to support a mobile workforce with handheld tools/communicators, provide site-wide location tracking of people and assets, enable video monitoring and communicate with wireless field devices.

Measurement instrumentation measures the physical properties of liquids or gases in a process stream, such as pressure, temperature, level, or rate and amount of flow, and communicates this information to the control system. Measurement technologies provided by Emerson include Coriolis direct mass flow, magnetic flow, vortex flow, ultrasonic flow, differential pressure, ultralow-flow fluid measurement, temperature sensors and radar-based tank gauging. Emerson measurement products are also often used in custody transfer applications, such as the transfer of gasoline from a storage tank to a tanker truck, where precise metering of the amount of fluid transferred helps ensure accurate asset management. Complementary products include onshore and subsea multi-phase meters, wetgas meters, downhole gauges and corrosion/erosion instruments.

Analytical instrumentation analyzes the chemical composition of process fluids and emissions to enhance quality and efficiency, as well as environmental compliance. Emerson’s analytical technologies include process gas chromatographs, in-situ oxygen analyzers, infrared gas and process fluid analyzers, combustion analyzers and systems, and analyzers that measure pH, conductivity and water quality. Emerson also provides these same technologies with wireless communication capability. Emerson provides sliding stem valves, rotary valves, butterfly valves and related valve actuators and controllers. Emerson also provides a line of industrial and residential regulators, whose function is to reduce the pressure of fluids, such as liquid natural gas and liquid petroleum gas for transfer from high-pressure supply lines to lower pressure systems.

Emerson’s PlantWeb digital plant architecture combines the technologies with the advantages of intelligent plant devices (valves and measurement instruments that have advanced diagnostic capabilities), open communication standards (non-proprietary wired and wireless digital protocols allowing the plant devices and the control system to talk with one another) and integrated modular software, not only to better control the process but also to collect and analyze valuable information about plant assets and processes. Emerson’s range of process automation and asset optimization services can improve automation project implementation time and costs, increase process availability and productivity, and reduce total cost of ownership.

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COMPANY PROFILE

Industrial Automation Industrial Automation segment provides integrated manufacturing solutions to its customers at the source of manufacturing their own products. Products include motors, power transmission solutions, alternators, fluid controls and materials joining equipment. Emerson provides a line of drives and electric motors that are used in a wide variety of manufacturing operations and products, including production assembly lines, escalators in shopping malls and supermarket checkout stations. Products in this category include alternating current (AC) and direct current (DC) electrical variable speed drives, servo motors, pump motors, drive control systems, integral HP (horsepower) motors (one HP and above), fractional horsepower motors (less than one HP), hermetic motors and gear drives.

Emerson’s power transmission products include belt and chain drives, helical and worm gearing, gear motors, motor sheaves, pulleys, mounted and unmounted bearings, couplings, chains and sprockets. Emerson provides alternators (low, medium and high voltage) for use in diesel or gas powered generator sets, as well as high frequency alternators, AC motor/generator sets, traction generators, wind power generators, wind turbine pitch control systems and solar photovoltaic converters. Products in the fluid power and fluid control category control and power the flow of fluids (liquids and gases) in manufacturing operations, such as automobile assembly, food processing, textile manufacturing and petrochemical processing. They include solenoid and pneumatic valves, valve position indicators, pneumatic cylinders, air preparation equipment, and pressure, vacuum and temperature switches.

Emerson supplies both plastics joining technologies and equipment, and metal welding and joining processes to a diversified manufacturing customer base, including automotive, medical devices and toys. The Company also provides precision cleaning and liquid processing solutions to industrial and commercial manufacturers. Products include ultrasonic joining and cleaning equipment; linear and orbital vibration welding equipment; systems for hot plate welding, spin welding and laser welding; and aqueous, semi-aqueous and vapor cleaning systems. Emerson’s majority-owned EGS Electrical Group joint venture with SPX Corporation manufactures a line of components for current- and noncurrent-carrying electrical distribution devices. These products include conduit and cable fittings, plugs and receptacles, industrial lighting, and enclosures and controls. Products in this category are used in hazardous, industrial, commercial and construction environments, such as oil and gas drilling and production sites, pulp and paper mills and petrochemical plants.

Network Power Emerson’s Network Power segment designs, manufactures, installs and maintains products providing grid to chip electric power conditioning, power reliability and environmental control for telecommunications networks, data centers and other critical applications, and also provides comprehensive data center infrastructure management solutions. Products in this segment include uninterruptible power systems, embedded power supplies, precision cooling and inbound power systems, integrated data center monitoring and control devices and software, plus around-the-clock service. Emerson supplies uninterruptible AC and DC power systems, which provide reliable, conditioned power to telecommunication networks, data centers and other critical equipment in the event of a blackout or line surges and spikes. Power Systems’ products range from stand-alone units to complete systems incorporating rectifiers, distribution units, surge protection, batteries and system supervision.

Embedded power supplies are installed by original equipment manufacturers to convert or condition power for microprocessors and peripherals in a range of telecommunication, health care, computer and industrial applications using standard or custom AC/DC or DC/DC designs. They are also used in consumer products for chargers and power adaptors. Embedded Computing designs and develops embedded computer systems for original equipment manufacturers and systems integrators serving telecommunications, defense, aerospace, medical and industrial automation end markets. Products range from communication platforms, blades and modules to enabling software and professional services. Emerson’s precision cooling products provide temperature and humidity control for computers, telecommunications and other sensitive equipment. These products range from 14,000 to 4 million British thermal units (BTUs) in capacity and are available in up-flow, down-flow and overhead configurations.

Emerson inbound power technology provides power systems, which automatically transfer critical application loads from a utility to emergency backup generators in the event of a blackout or brownout. Products include automatic transfer switches, paralleling and synchronizing gear and related distribution equipment and control systems. Emerson provides comprehensive data center management solutions through server access technologies that enable access, monitoring and control of the information technology infrastructure and provide linkage with data center operations. Emerson’s connectivity products serve the needs of the wireless communications, telephone and data

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COMPANY PROFILE

network, community access television (CATV), defense, security systems and health care industries and other industrial customers globally with a range of radio frequency, microwave and fiber optic interconnect components and assemblies. Emerson staffs Energy Operation Centers in more than 30 countries, and deploys field service personnel worldwide to assist customers in managing their network support systems.

Climate Technologies Climate Technologies segment provides products and services for all areas of the climate control industry, including residential, commercial and industrial heating and air conditioning, and commercial and industrial refrigeration. Its technology enables homeowners and businesses to better manage their heating, air conditioning and refrigeration systems for improved control and lower energy bills. This segment also provides services that digitally control and monitor refrigeration units in grocery stores and other food distribution outlets to enhance freshness and food safety. Emerson provides a full range of heating and air conditioning products that help reduce operational and energy costs and create comfortable environments in all types of buildings. These products include reciprocating and scroll air conditioning compressors, including an ultra-efficient residential scroll compressor with two stages of cooling capacity; standard and programmable thermostats; monitoring equipment and electronic controls for gas and electric heating systems; gas valves for furnaces and water heaters; nitride ignition systems for furnaces; sensors and thermistors for home appliances, and temperature sensors and controls. Emerson’s technology is incorporated into equipment to refrigerate food and beverages in supermarkets, convenience stores, food service operations and refrigerated trucks and transport containers. Emerson services and solutions enable global customers to optimize the performance of facilities including large-scale retailers, supermarkets, convenience stores and food services facilities.

Tools and Storage Tools and Storage segment includes a range of tools, storage products and appliance solutions. Its pipe-working tools are used by plumbing and mechanical professionals to install and repair piping systems. These tools include pipe wrenches, pipe cutters, pipe threading and roll grooving equipment; a time-saving system that joins tubing through mechanical crimping; drain cleaners; diagnostic systems including closed-circuit television pipe inspection and locating equipment; and tubing tools. Other professional tools include water jetters, wet-dry vacuums, commercial vacuums, rolling storage boxes, truck work boxes, bolt cutters, and van and truck ladder racks. Do-it-yourself tools, available at home improvement retail outlets, include drain cleaning equipment, pipe and tube working tools, and wet- dry vacuums.

Emerson provides a variety of freestanding, fixed and mobile storage products for residential, commercial, health care and food service applications. Its products for the home include wall-mounted and freestanding shelving systems, cabinet and closet organizers, home office storage, and drawer systems and containers, available in wire, stainless steel and laminate. Its storage solutions also help commercial customers utilize space in the most efficient manner. These solutions include storage and display shelving, stock-picking and kitting carts, cabinets, totes, bins, workstations, and merchandising and inventory storage racks.

Products provided to the health care industry assist in medical response and treatment; they include emergency and operating room carts, medication carts, polymer and wire shelving systems, and sterile worktables. Its food service equipment helps meet the storage needs of the food service and hospitality industries, such as restaurants and hotels. This equipment includes polymer and wire storage systems, busing carts, pan and tray racks, transport carts and workstations. Emerson provides a number of appliance solutions, including residential and commercial food waste disposers, ceiling fans, instant hot water dispensers and compact electric water heaters.

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COMPANY PROFILE

Entergy Corp. (ETR) Web Site: http://www.entergy.com/

Entergy Corporation (Entergy) is an integrated energy company engaged primarily in electric power production and retail electric distribution operations. It owns and operates power plants with approximately 30,000 megawatt of aggregate electric generating capacity. The Company is also a nuclear power generator in the United States. The Company operates in two business segments: Utility and Non-Utility Nuclear. In addition to its two primary, reportable, operating segments, Entergy also operates the non-nuclear wholesale assets business. The non-nuclear wholesale assets business sells to wholesale customers the electric power produced by power plants that it owns while it focuses on improving performance and exploring sales or restructuring opportunities for its power plants. The Company’s subsidiaries include Entergy Arkansas, Inc., Entergy Gulf States Louisiana, L.L.C., Entergy Louisiana, LLC, Entergy Mississippi, Inc., Entergy New Orleans, Inc., Entergy Texas, Inc., and System Energy Resources, Inc. As of December 31, 2009, Entergy delivered electricity to 2.7 million utility customers in Arkansas, Louisiana, Mississippi, and Texas.

Utility The Utility segment generates, transmits, distributes, and sells electric power in a four-state service territory. It includes portions of Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans; and operates a small natural gas distribution business.

Non-Utility Nuclear The Non-Utility Nuclear segment owns and operates six nuclear power plants located in the northern United States and sells the electric power produced by those plants primarily to wholesale customers. The business also provides services to other nuclear power plant owners.

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COMPANY PROFILE

Exelon Corp. (EXC) Web Site: http://www.exeloncorp.com/

Exelon Corporation (Exelon), incorporated in February 1999, is a utility services holding company. It operates through its principal subsidiaries: Exelon Generation Company, LLC (Generation), Commonwealth Edison Company (ComEd) and PECO Energy Company (PECO). Generation’s business consists of its owned and contracted electric generating facilities, its wholesale energy marketing operations and its retail supply operations. ComEd’s energy delivery business consists of the purchase and regulated retail sale of electricity, and the provision of transmission and distribution services to retail customers in northern Illinois. PECO’s energy delivery business consists of the purchase and regulated retail sale of electricity and the provision of transmission and distribution services to retail customers in south-eastern Pennsylvania, as well as the purchase and regulated retail sale of natural gas and the provision of distribution services to retail customers in the Pennsylvania counties surrounding Philadelphia.

Generation Generation is an electric generation company in the United States. At December 31, 2009, Generation owned assets with an aggregate net capacity of 24,850 megawatts, including 17,009 megawatts of nuclear capacity. Generation controlled another 6,153 megawatts of capacity through long-term contracts. Generation’s wholesale marketing unit, Power Team, a wholesale marketer of energy, draws upon Generation’s energy generation portfolio and logistical expertise to ensure delivery of energy to Generation’s wholesale customers under long-term and short-term contracts. Generation’s retail business provides retail electric and gas services as an unregulated retail energy supplier in Illinois, Pennsylvania, Michigan and Ohio. The owned and contracted generating resources of Generation are located in the United States in the Midwest region, which is comprised of Illinois (approximately 46% of capacity), the Mid- Atlantic region, which is comprised of Pennsylvania, New Jersey, Maryland and West Virginia (approximately 37% of capacity), the Southern region, which is comprised of Texas, Georgia and Oklahoma (approximately 16% of capacity), and the New England region, which is comprised of Massachusetts and Maine (approximately 1% of capacity). Generation has ownership interests in 11 nuclear generating stations, consisting of 19 units and 17,009 megawatts of capacity. Generation’s nuclear generating stations are operated by Generation, with the exception of the two units at Salem Generating Station (Salem), which are operated by PSEG Nuclear, LLC (PSEG Nuclear), an indirect, wholly owned subsidiary of Public Service Enterprise Group Incorporated (PSEG).

ComEd ComEd is engaged in the purchase and regulated retail sale of electricity and the provision of distribution and transmission services to residential, commercial and industrial customers in northern Illinois. As of December 31, 2009 ComEd’s retail service territory has an area of approximately 11,300 square miles.

PECO PECO is engaged in the purchase and regulated retail sale of electricity and the provision of transmission and distribution services to retail customers in south-eastern Pennsylvania, including the City of Philadelphia, as well as the purchase and regulated retail sale of natural gas and the provision of distribution services to retail customers in the Pennsylvania counties surrounding the City of Philadelphia. As of December 31, 2009, PECO’s combined electric and natural gas retail service territory has an area of approximately 2100 square miles. PECO provides electric delivery service in an area of approximately 1,900 square miles. PECO delivers electricity to approximately 1.6 million customers.

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COMPANY PROFILE

Express Scripts, Inc. (ESRX) Web Site: http://www.express-scripts.com/

Express Scripts, Inc., incorporated in September 1986, is a pharmacy benefit management (PBM) operating in North America. It offers a range of services, which include health maintenance organizations (HMOs), health insurers, third- party administrators, employers, union-sponsored benefit plans, workers’ compensation plans and government health programs. The Company operates in two business segments: PBM and Emerging Markets (EM). The PBM segment consists of retail network pharmacy management and retail drug card programs, home delivery services, specialty pharmacy services, patient care contact centers, benefit plan design and consultation, drug formulary management, compliance and therapy management programs, information reporting and analysis programs, rebate programs, electronic claims processing and drug utilization review, consumer health and drug information, bio-pharma services including reimbursement and customized logistics solutions, medication therapy and safety through pharmacogenomics, and assistance programs for low-income patients. The EM segment consists of distribution of pharmaceuticals and medical supplies to providers and clinics, distribution of fertility pharmaceuticals requiring special handling or packaging, and healthcare account administration and implementation of consumer-directed healthcare solutions.

In December 2009, the Company completed the acquisition of certain subsidiaries of WellPoint, Inc. (WellPoint), representing WellPoint’s NextRx PBM business. On July 22, 2008, the Company completed the acquisition of the pharmacy services division of Medical Services Company (MSC). On June 30, 2008, the Company completed the sale of CuraScript Infusion Pharmacy, Inc. the infusion pharmacy (IP) line of business. On April 4, 2008, the Company completed the sale of Custom Medical Products, Inc. (CMP) business. In October 2010, the Company completed the spinoff of its Rx Outreach business unit. In November 2010, the Comapny announced the formation of Express Scripts Specialty Benefit Services, a specialty benefits company.

Pharmacy Benefit Management Services The PBM services involve the management of outpatient prescription drug use to foster pharmaceutical care. It contracts with retail pharmacies to provide prescription drugs to members of the pharmacy benefit plans. The Company manage national and regional networks in the United States that are responsive to client preferences related to cost containment, convenience of access for members, and network performance. It also manages networks of pharmacies that are customized for or under direct contract with specific clients. During the year ended December 31, 2009, the Company generated 94% of its revenues from the PBM operations.

As of December 31, 2009, the Company dispensed prescription drugs from five home delivery pharmacies. In addition, to the order processing, which occurs at the home delivery pharmacies, it also operate three non-dispensing order processing facilities and 11 contact centers. The Company operates specialty pharmacies in seven states. It provide specialty distribution services, consisting of the distribution of, and creation of a database of information for, products requiring special handling or packaging focused to a specific physician or patient population and products distributed to low-income patients. The services include eligibility, fulfillment, inventory, insurance verification/authorization and payment. It also administers sample card programs for certain manufacturers.

The Company offers consultation and financial modeling to assist the clients in selecting benefit plan designs, which meet their needs for member satisfaction and cost control. It includes financial incentives and reimbursement limitations on the drugs covered by the plan, including drug formularies, tiered co-payments, deductibles or annual benefit maximums; generic drug utilization incentives; incentives or requirements to use only certain network pharmacies or to order certain maintenance drugs only for home delivery; reimbursement limitations on the amount of a drug which can be obtained in a specific period; utilization management programs, such as step therapy and prior authorization, which focus the use of medications according to clinically developed algorithms, and evidence-based, behavior-centric Consumerology programs that drive adoption of generics, better therapy adherence and greater use of home delivery.

The Company offer education programs to members in managing clinical outcomes and the total health care costs associated with certain conditions such as asthma, diabetes and cardiovascular disease. It offers a tiered approach to member education and wellness, ranging from information provided through our internet site, to educational mailings, to the registered nurse or pharmacist counseling. The programs include providing patient profiles directly to their physicians, as well as measurements of the clinical, personal and economic outcomes of the programs.

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COMPANY PROFILE

The Company develops, manages and administers programs, which allow pharmaceutical manufacturers to provide rebates and administrative fees based on utilization of their products by members of the clients’ benefit plans. It maintains a public Website, www.DrugDigest.org, for helping consumers make informed decisions about using medications. The Company provides fulfillment of prescriptions to low-income patients through pharmaceutical manufacturer-sponsored and company-sponsored generic patient assistance programs. It offers centralized eligibility, enrollment and fulfillment services tailored to meet the needs of each client, product, practitioner and patient.

Emerging Markets Services The Company, through the EM segment provide services including distribution of pharmaceuticals and medical supplies to providers and clinics, distribution of fertility pharmaceuticals requiring special handling or packaging, distribution of sample units to physicians, verification of practitioner licensure, healthcare account administration and implementation of consumer-directed healthcare solutions. During 2009, 5.2% of the Company’s revenues were generated from the EM services.

The Company assists with the eligibility review, prior authorization coordination, re-pricing, utilization management, monitoring and reporting. Through the CuraScriptSD business unit, it provides distribution services primarily to office and clinic-based physicians treating chronic disease patients. The Company also provide a range of centralized supply chain services which can include sampling programs and clinical trial assistance, as well as shipping and storage and customized dosing.

The Company competes with Catalyst RX, Medco, MedImpact, Aetna Inc., CIGNA Corporation, UnitedHealthcare, Prime Therapeutics, Caremark, Rite Aid Health Solutions, Walgreens Health Initiatives, Wal-Mart Stores, Inc., Argus and SXC Health Solutions.

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COMPANY PROFILE

ExxonMobil Corp. (XOM) Web Site: http://www.exxonmobil.com/

Exxon Mobil Corporation (Exxon Mobil), incorporated in 1882, is a manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products. It also has interests in electric power generation facilities. The Company has several divisions and hundreds of affiliates with names that include ExxonMobil, Exxon, Esso or Mobil. Divisions and affiliated companies of ExxonMobil operate or market products in the United States and other countries of the world. Their principal business is energy, involving exploration for, and production of, crude oil and natural gas, manufacture of petroleum products and transportation and sale of crude oil, natural gas and petroleum products. At December 31, 2009, approximately 7.5 billion oil-equivalent barrels (GOEB) of the Company’s reserves were classified as proved undeveloped, which represented 33% of the 23 GOEB reported in proved reserves. On December 13, 2009, ExxonMobil and XTO Energy Inc. (XTO) entered into an Agreement and Plan of Merger (the Merger Agreement). In October 2010, Global Partners LP acquired retail gasoline stations from Exxon Mobil.

Syncrude is a joint venture established to recover shallow deposits of oil sands using open-pit mining methods to extract the crude bitumen, and then upgrade it to produce a high-quality, light, sweet, synthetic crude oil. The Syncrude operation, located near Fort McMurray, Alberta, Canada, mines a portion of the Athabasca oil sands deposit. Syncrude joint venture owners hold eight oil sands leases covering about 250,000 acres in the Athabasca oil sands deposit. The Kearl oil sands project is a joint venture established to recover shallow deposits of oil sands using open-pit mining methods to extract the crude bitumen.

During 2009, Exxon Mobil’s activities were conducted, either directly or through affiliated companies, by ExxonMobil Exploration Company (for exploration), by ExxonMobil Development Company (for large development activities), by ExxonMobil Production Company (for producing and smaller development activities) and by ExxonMobil Gas & Power Marketing Company (for gas marketing). The ExxonMobil’s exploration, development, production and gas marketing activities were also conducted in Canada by Imperial Oil Limited, which is 69.6% owned by ExxonMobil.

The Company’s acreage holdings totaled 10.2 million net acres, of which 2.3 million net acres were offshore. During 2009, 435.2 net exploration and development wells were completed in the inland lower 48 states and two net development wells were completed offshore in the Pacific. Participation in Alaska production and development continued and a total of 22.5 net development wells were drilled.

At December 31, 2009, ExxonMobil’s net acreage in the Gulf of Mexico was 2.2 million acres. During 2009, a total of six net exploration and development wells were completed. In 2009, the Rockefeller field was brought onstream.

At December 31, 2009, ExxonMobil’s acreage holdings totaled 6.8 million net acres, of which 3.1 million net acres were offshore in Canada. During 2009, a total of 234 net exploration and development wells were completed. In 2009, ExxonMobil’s in situ bitumen acreage holdings totaled 0.6 million net onshore acres. During 2009, a total of 60 net development wells were completed. In Argentina, ExxonMobil’s net acreage totaled 0.2 million onshore acres, and there were 1.8 net development wells.

In Germany, a total of 4.9 million net onshore acres and 0.1 million net offshore acres were held by ExxonMobil, with 3.6 net exploration and development wells drilled during the year. In 2009, the Adriatic LNG regasification terminal received its first cargo and commenced regasification operations. The terminal can supply up to 775 million cubic feet of gas per day to the Italian gas market.

At December 31, 2009, ExxonMobil’s net interest in licenses totaled approximately 1.4 million acres, of which 1.2 million acres are onshore. During 2009, a total of 2.5 net exploration and development wells were completed. The multi-year project to renovate Groningen production clusters, install new compression to maintain capacity and extend field life was completed and the project to redevelop the Schoonebeek oil field was progressed.

At December 31, 2009, ExxonMobil’s net interest in licenses totalled approximately 0.7 million acres, all offshore in Norway. In 2009, the Company participated in 6.6 net exploration and development well completions. Production was initiated at the Tyrihans field.

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COMPANY PROFILE

At December 31, 2009, ExxonMobil’s acreage holdings totaled 0.7 million net offshore acres and 7.9 net exploration and development wells in Angola. On Block 15, development drilling continued at Kizomba A, Kizomba B and Kizomba C. In 2009, project work continued on the Angola Gas Gathering project and the Kizomba Satellites Phase 1 project. On the non-operated Block 17, project work continued on the Pazflor project and development drilling continued at Dalia. On the non-operated Block 31, project work continued on the Plutao-Saturno-Venus-Marte project. At December 31, 2009, ExxonMobil’s net acreage holdings totaled 0.1 million offshore acres in Cameroon. At December 31, 2009, ExxonMobil’s acreage holdings consisted of 0.1 million onshore acres, with 34.4 net development wells in Chad. At December 31, 2009, ExxonMobil’s acreage totaled 0.1 million net offshore acresin Equatorial Guinea. At December 31, 2009, ExxonMobil’s net acreage totalled one million offshore acres with 6.7 net exploration and development wells. A three-dimensional (3-D) seismic acquisition program continued on the Nigerian Shelf joint venture acreage and a four dimensional (4-D) seismic survey was completed at the Erha field.

At December 31, 2009, the Company’s offshore acreage holdings totaled 1.9 million acres in Australia. During 2009, a total of 7.6 net exploration and development wells were drilled. At December 31, 2009, ExxonMobil had 5.4 million net acres, including 4.3 million net acres offshore and 1.1 million net acres onshore in Indonesia. During 2009, a total of 0.8 net exploration wells were completed. At December 31, 2009, ExxonMobil’s net offshore acreage was 36,000 acres.

At December 31, 2009, ExxonMobil had interests in production sharing contracts covering 0.5 million net acres offshore Malaysia. During 2009, a total of five net development wells were completed. At December 31, 2009, a total of 0.4 million net onshore acres were held by ExxonMobil, with 1.1 net development wells completed in Papua New Guinea.

Production and development activities continued on natural gas projects in Qatar. Liquified natural gas (LNG) operating companies include Qatar Liquefied Gas Company Limited, Qatar Liquefied Gas Company Limited (2), Ras Laffan Liquefied Natural Gas Company Limited, Ras Laffan Liquefied Natural Gas Company Limited (II) and Ras Laffan Liquefied Natural Gas Company Limited (3). In addition, the Al Khaleej Gas (AKG) project supplied pipeline gas to domestic industrial customers. During 2009, 8.9 net development wells were completed.

At December 31, 2009, ExxonMobil’s net acreage in the Republic of Yemen production sharing areas totaled 10,000 acres onshore. At December 31, 2009, ExxonMobil’s net onshore acreage in Thailand concessions totaled 21,000 acres. At December 31, 2009, ExxonMobil’s net acreage in the Abu Dhabi oil concessions was 0.6 million acres, of which 0.4 million acres were onshore and 0.2 million acres offshore.

At December 31, 2009, ExxonMobil’s net acreage, located in the Caspian Sea offshore of Azerbaijan, totaled 0.1 million acres. At the Azeri-Chirag-Gunashli field, 0.7 net development wells were completed. At December 31, 2009, ExxonMobil’s net acreage totaled 0.2 million acres onshore and 0.2 million acres offshore, with 1.2 net exploration and development wells completed in Kazakhstan. At December 31, 2009, the Company’s net acreage holdings were 0.1 million acres, all offshore in Russia. During 2009, a total of 0.6 net development wells were completed in the Chayvo field.

ExxonMobil’s Downstream segment manufactures and sells petroleum products. The refining and supply operations encompass a global network of manufacturing plants, transportation systems, and distribution centers that provide a range of fuels, lubricants and other products and feedstocks to the customers globally.

ExxonMobil’s Chemical segment manufactures and sells petrochemicals. The Chemical business supplies olefins, polyolefins, aromatics, and a range of other petrochemicals.

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COMPANY PROFILE

FedEx Corp. (FDX) Web Site: http://www.fedex.com

FedEx Corporation (FedEx), incorporated on October 2, 1997, is a holding company. The Company provides a portfolio of transportation, e-commerce and business services under the respected FedEx brand. The Company operates in four segments: FedEx Express, FedEx Ground, FedEx Ground and FedEx Services. Federal Express Corporation (FedEx Express) is an express transportation company, offering time-certain delivery within one to three business days and serving markets. FedEx Ground Package System, Inc. (FedEx Ground) is a provider of small- package ground delivery service. FedEx Ground provides day-certain service to every business address in the United States and Canada. FedEx Freight Corporation is a provider of less-than-truckload (LTL) freight services through its FedEx Freight business (fast-transit LTL freight services) and its FedEx National LTL business (economical LTL freight services). FedEx Corporate Services, Inc. (FedEx Services) provides its other companies with sales, marketing and information technology support, as well as customer service support through FedEx Customer Information Services, Inc.

FedEx Express FedEx Express offers time-certain delivery within one to three business days, serving markets through door-to-door, customs-cleared service, with a money-back guarantee. FedEx Express has approximately 59,000 drop-off locations (including FedEx Office centers), 664 aircraft and approximately 49,000 vehicles and trailers in its integrated global network. FedEx Express offers a range of shipping services for delivery of packages and freight. Overnight and deferred package services are backed by money-back guarantees and extend to virtually the entire United States population. FedEx Express offers three United States package delivery services: FedEx First Overnight, FedEx Priority Overnight and FedEx Standard Overnight. FedEx SameDay service is available for urgent shipments up to 70 pounds to virtually any Unites States destination. International express and deferred package delivery with a money- back guarantee is available to more than 220 countries and territories, with a variety of time-definite services to meet distinct customer needs. FedEx Express also offers comprehensive international express and deferred freight services, backed by a money-back guarantee, real-time tracking and advanced customs clearance.

FedEx Trade Networks provides international trade services, specializing in customs brokerage and global ocean and air freight forwarding. FedEx Trade Networks provides customs clearance services for FedEx Express at its major hub facilities. Value-added services include Global Trade Data, an information tool that allows customers to track and manage imports. FedEx Trade Networks provides international trade advisory services, including assistance with the Customs-Trade Partnership Against Terrorism (C-TPAT) program, and through its WorldTariff subsidiary, FedEx Trade Networks publishes customs duty and tax information for over 100 customs areas worldwide. FedEx Trade Networks has 120 offices in 95 service locations throughout North America and in Asia, Europe, the Middle East and Latin America.

FedEx Ground FedEx Ground serves customers in the North American small-package market, focusing on business and residential delivery of packages weighing up to 150 pounds. Ground service is provided to 100% of the continental United States population and overnight service of up to 400 miles to nearly 100% of the continental United States population. Service is also provided to nearly 100% of the Canadian population. In addition, FedEx Ground offers service to Alaska and Hawaii through a ground and air network operation coordinated with other transportation providers. The Company offers FedEx Home Delivery, which reaches nearly 100% of United States residences. FedEx Ground operates a multiple hub-and-spoke sorting and distribution system consisting of 520 facilities, including 32 hubs, in the United States and Canada.

FedEx SmartPost (a subsidiary of FedEx Ground) is a small-parcel consolidator, which specializes in the consolidation and delivery of high volumes of low-weight, less time-sensitive business-to-consumer packages, using the United States Postal Service for final delivery to residences. The Company picks up shipments from customers (including e-tailers and catalog companies), provides sorting and linehaul services and then delivers the packages to a United States Postal Service facility for final delivery by a postal carrier. Through its network of 25 distribution hubs and approximately 4,500 employees, FedEx SmartPost provides delivery Monday through Saturday to all residential addresses in the United States, including post office boxes and military destinations.

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COMPANY PROFILE

FedEx Freight FedEx Freight Corporation provides a range of LTL freight services through its FedEx Freight (fast-transit LTL freight services), FedEx National LTL (economical LTL freight services) and FedEx Freight Canada businesses. FedEx Freight provides service to virtually all United States ZIP Codes (including Alaska and Hawaii). FedEx Freight’s services are supported by a no-fee money-back guarantee on eligible shipments. Internationally, FedEx Freight Canada offers freight delivery service throughout Canada, and FedEx Freight serves Mexico, Puerto Rico, Central and South America, the Caribbean, Europe and Asia through alliances and purchased transportation. FedEx National LTL provides economical service options. As of May 31, 2010, FedEx Freight Corporation was operating approximately 60,000 vehicles and trailers from a network of 492 service centers. FedEx Custom Critical provides a range of expedited, time-specific freight-shipping services throughout the United States, Canada and Mexico.

FedEx Services FedEx Services provides its other companies with sales, marketing, information technology and customer service support. Through FedEx Services and its subsidiary FedEx Customer Information Services, Inc., the Company provides a convenient single point of access for many customer support functions, to sell the entire portfolio of transportation services. FedEx Mobile is a suite of services available on most Web-enabled mobile devices, such as the BlackBerry, and includes enhanced support for Apple products, such as the iPhone, iPod Touch and iPad. FedEx Mobile allows customers to track the status of packages, create shipping labels, get account-specific rate quotes and access drop-off location data for FedEx shipments.

FedEx Office’s global network of digitally-connected locations offers access to copying and digital printing through retail and Web-based platforms, signs and graphics, professional finishing, computer rentals, and the range of FedEx day-definite ground shipping and time-definite global express shipping services. FedEx Office offers a range of FedEx Express and FedEx Ground services at virtually all United States locations. In addition, FedEx Office offers packing services at virtually all United States Office and Print Centers, and packing supplies and boxes are included in FedEx Office’s retail product assortment.

The Company competes with United Parcel Service, Inc., DHL, TNT, Con-Way Freight, YRC Regional Transportation and UPS Freight.

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COMPANY PROFILE

W.W. Grainger (GWW) Web Site: http://www.grainger.com/

W.W. Grainger, Inc. (Grainger), incorporated in 1928, distributes facilities maintenance products and provides related services and information used by businesses and institutions primarily in the United States, Canada, Japan and Mexico to keep their facilities and equipment running. Grainger is the supplier of facilities maintenance and other related products and services in North America. Grainger uses a multi channel business model to provide customers with a range of options for finding and purchasing products utilizing sales representatives, direct marketing materials and catalogs. Its two segments include United States and Canada. During the year ended December 31, 2009, Grainger integrated the Lab Safety business into the Grainger Industrial Supply business and results are reported under the United States segment. The Canada segment reflects the results for Acklands-Grainger Inc. Other businesses include MonotaRO Co., Ltd. (Japan), Grainger, S.A. de C.V. (Mexico), Grainger Industrial Supply India Private Limited (India), Grainger Caribe Inc. (Puerto Rico), Grainger China LLC (China) and Grainger Panama S.A. (Panama). During 2009, the Company acquired Imperial Supplies LLC (Imperial) and Alliance Energy Solutions (Alliance). In June 2010, it acquired 80% interest in Colombian maintenance parts distributor, Torhefe SA.

United States The United States business offers a selection of facilities maintenance and other products and provides related services and information through local branches, catalogs and the Internet. During 2009, the Lab Safety business was integrated into the United States branch-based business. In addition, during 2009, Grainger acquired two companies, Imperial Supplies LLC (Imperial) and Alliance Energy Solutions (Alliance). Imperial is a distributor of maintenance products and aftermarket components for the vehicle and fleet industry; Alliance offers services that help customers drive energy efficiency and productivity, with particular expertise in the area of lighting retrofits.

Grainger’s United States business offers products, which include material handling equipment, safety and security supplies, lighting and electrical products, power and hand tools, pumps and plumbing supplies, cleaning and maintenance supplies, forestry and agriculture equipment, building and home inspection supplies, vehicle and fleet components and many other items primarily focused on the facilities maintenance market. Services offered include inventory management and energy efficiency solutions. The United States business operates more than 400 branches located in all 50 states.

The product brands sold by the United States business include DAYTON motors, SPEEDAIRE air compressors, AIR HANDLER air filtration equipment, DEM-KOTE spray paints, WESTWARD tools, CONDOR safety products and LUMAPRO lighting products. The Grainger catalog offers approximately 307,000 facilities maintenance and other products, and is used by customers, sales representatives and branch personnel to assist in customer product selection. Customers can also purchase products through grainger.com. Grainger.com provides real-time price and product availability and detailed product information, and offers advanced features, such as product search and compares capabilities.

Canada Acklands-Grainger is Canada’s distributor of industrial and safety supplies. During 2009, Acklands-Grainger acquired the assets of the K&D Pratt Industrial Division, a distributor of industrial and safety products located in eastern Canada. The Canadian business serves customers through more than 160 branches and five distribution centers (DCs) across Canada. Acklands-Grainger distributes tools, fasteners, safety supplies, instruments, welding and shop equipment, and many other items. During 2009, approximately 13,000 sales transactions were completed. A catalog, printed in both English and French, showcases the product line to facilitate the customer’s product selection. This catalog, with more than 75,000 products, is used by customers, sales account managers and branch personnel to assist in customer product selection. In addition, customers can purchase products through acklandsgrainger.com.

Other Businesses The other businesses included in this segment are the operations in Japan, Mexico, India, Puerto Rico, China, and Panama. Grainger operates in Japan through a 53% interest in MonotaRO Co., Ltd. (MonotaRO), which provides small and mid-sized domestic businesses with products that help them operate and maintain their facilities. Grainger’s operations in Mexico provide local businesses with facilities maintenance products and other products from both Mexico and the United States. Grainger operates in China from a DC in Shanghai and has 10 sales offices throughout China that allow sales representatives to work remotely and meet with customers. Customers have access to approximately 59,000 products through a Chinese-language catalog and through grainger.com.cn.

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COMPANY PROFILE

H.J. Heinz Co. (HNZ) Web Site: http://www.heinz.com/

H. J. Heinz Company, incorporated on July 27, 1900, together with its subsidiaries is engaged in manufacturing and marketing a range of food products globally. The Company’s principal products include ketchup, condiments and sauces, frozen food, soups, beans and pasta meals, infant nutrition and other food products. The Company’s principal products include ketchup, condiments and sauces, frozen food, soups, beans and pasta meals, infant nutrition and other food products. The Company’s products are manufactured and packaged to provide safe, wholesome foods for consumers, as well as foodservice and institutional customers. The Company manufactures and contracts for the manufacture of its products from a range of raw foods. The Company operates in five segments: North American Consumer Products, Europe, Asia/Pacific, U.S. Foodservice and Rest of World. In November 2010, the Company acquired Foodstar, a manufacturer of soy sauces and fermented bean curd in China, from Transpac Industrial Holdings Ltd.

North American Consumer Products The North American Consumer Products segment manufactures, markets and sells ketchup, condiments, sauces, pasta meals, and frozen potatoes, entrees, snacks, and appetizers to the grocery channels in the United States of America. It also includes the Company’s Canadian business.

Europe The Europe segment includes the Company’s operations in Europe, including Eastern Europe and Russia. It sells products in all of the Company’s categories.

Asia/Pacific The Asia/Pacific segment includes the Company’s operations in Australia, New Zealand, India, Japan, China, South Korea, Indonesia, and Singapore. The segment’s operations include products in all of the Company’s categories.

U.S. Foodservice The U.S. Foodservice segment manufactures, markets and sells branded and customized products to commercial and non- commercial food outlets and distributors in the United States. The products ketchup, condiments, sauces, frozen soups and desserts.

Rest of World The Rest of World segment includes the Company’s operations in Africa, Latin America, and the Middle East. It sell products in all of the Company’s categories.

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COMPANY PROFILE

Hewlett-Packard Co. (HPQ) Web Site: http://www.hp.com/

Hewlett-Packard Company (HP), incorporated in 1947, is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses (SMBs) and large enterprises, including customers in the government, health and education sectors. Its operations are organized into seven segments: Services, Enterprise Storage and Servers (ESS), HP Software, the Personal Systems Group (PSG), the Imaging and Printing Group (IPG), HP Financial Services (HPFS), and Corporate Investments. Services, ESS and HP Software are reported collectively as a broader HP Enterprise Business. In April 2010, the Company completed its acquisition of 3Com Corporation. In July 2010, HPQ completed the acquisition of Palm, Inc. (Palm), In September 2010, the Company acquired Fortify Software. In September 2010, the Company acquired 3PAR Inc., a global provider of utility storage. In October 2010, the Company acquired ArcSight, Inc., a security and compliance management company.

The Company’s offerings include multi-vendor customer services, including infrastructure technology and business process outsourcing, technology support and maintenance, application development and support services and consulting and integration services. It also provides enterprise information technology infrastructure, including enterprise storage and server technology, networking products and solutions, information management software and software that optimizes business technology investments; personal computing and other access devices, and imaging and printing-related products and services.

Services Services provide consulting, outsourcing and technology services across infrastructure, applications and business process domains. Services delivers to its clients by leveraging investments in consulting and support professionals, infrastructure technology, applications, standardized methodologies, and global supply and delivery. Services is divided into four main business units: infrastructure technology outsourcing, technology services, applications services and business process outsourcing. Infrastructure technology outsourcing delivers services that streamline and optimize its clients' infrastructure to improve performance, reduce costs, mitigate risk and enable business change. These services encompass the data center and the workplace (desktop); network and communications, and security, compliance and business continuity. It also offers a set of managed services, providing a cross-section of its broader infrastructure services for smaller discrete engagements.

HP provides consulting and support services, as well as warranty support across HP's product lines. HP specializes in keeping technology running with services, converged infrastructure services, networking services, data center transformation services and infrastructure services for storage, server and unified communication environments. HP's technology services offerings are available in the form of service contracts, pre-packaged offerings (HP Care Pack services) or on an individual basis. Applications services help clients revitalize and manage their applications assets through flexible, project-based, consulting services and longer-term outsourcing contracts. These full life cycle services consist of application development, testing, modernization, system integration, maintenance and management. Business process outsourcing is powered by a platform of underlying infrastructure technology, applications and standardized methodologies and is supplemented by information technology (IT) experience and in- depth, industry-specific knowledge. These services consist of both industry-specific and cross-industry solutions. Its cross-industry solutions include a range of enterprise shared services, customer relationship management services, financial process management services and administrative services.

Enterprise Storage and Servers ESS provides storage and server products in a number of categories, including industry standard servers, business critical systems and storage. Industry standard servers include primarily entry-level and mid-range ProLiant servers, which run primarily Windows, Linux and Novell operating systems and leverage Intel Corporation (Intel) and Advanced Micro Devices (AMD) processors. The business spans a range of product lines that include pedestal-tower servers, density-optimized rack servers and HP's BladeSystem family of server blades.

Business Critical Systems include HP Integrity servers based on the Intel Itanium-based processor that run HP-UX, Windows and OpenVMS operating systems, as well as fault-tolerant HP Integrity NonStop solutions. Business Critical Systems also include HP's scale-up x86 ProLiant servers with more than four processors. In addition, HP supports the HP9000 servers and HP AlphaServers with compelling offers available to upgrade these legacy systems to current HP Integrity systems. During the fiscal year ended October 31, 2010 (fiscal 2010), it introduced new Integrity blade servers and the Superdome 2 server solution based on the BladeSystem architecture.

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HP Software HP Software is a provider of enterprise and service-provider software and services. Its portfolio consists of enterprise IT management software, information management and business intelligence solutions, and communications and media solutions. Enterprise IT management solutions, including support and professional services, allow customers to manage IT infrastructure, operations, applications, IT services and business processes. These solutions also include tools to automate data center operations and IT processes. Its information management and business intelligence solutions include information data strategy, enterprise data warehousing, data integration, data protection, archiving, compliance, e-discovery and records management products. Its communications and media industry solutions address the creation, delivery and management of consumer and enterprise communications services, with offerings in service delivery infrastructure and applications, real-time business support systems, next-generation operations support systems and digital media.

Personal Systems Group PSG is a provider of personal computers (PCs) in the world based on unit volume shipped and annual revenue. PSG provides commercial PCs, consumer PCs, workstations, handheld computing devices, calculators and other related accessories, software and services for the commercial and consumer markets. It groups commercial desktops, commercial notebooks and workstations into commercial clients and consumer desktop and consumer notebooks into consumer clients when describing its performance in these markets. Commercial PCs are optimized for commercial uses, including enterprise and SMB customers, and for connectivity and manageability in networked environments. Commercial PCs include HP Compaq, HP Pro and HP Elite lines of business desktops and notebooks, as well as the all-in-One TouchSmart and Omni PCs, HP Mini-Note PCs, HP Blade PCs, Retail POS systems and HP TwinClients.

Consumer PCs include the HP and Compaq series of multi-media consumer desktops, notebooks and mini notebooks, including the TouchSmart line of touch-enabled all-in-one desktops and notebooks. Workstations are individual computing products designed for users demanding improved performance, such as computer animation, engineering design and other programs requiring high-resolution graphics. PSG provides workstations that run on both Windows and Linux-based operating systems. PSG provides a series of HP iPAQ Pocket PC handheld computing devices that run on Windows Mobile software. These products range from basic PDAs to advanced smartphone devices with voice and data capability.

Imaging and Printing Group IPG provides consumer and commercial printer hardware, printing supplies, printing media and scanning devices. IPG is also focused on imaging solutions in the commercial markets. These solutions range from managed print services solutions to addressing new growth opportunities in commercial printing and capturing high-value pages in areas, such as industrial applications, outdoor signage and the graphic arts business. Inkjet and Web solutions include HP's consumer and SMB inkjet solutions (hardware, supplies and media) and HP's retail and Web businesses. These solutions include single function and all-in-one inkjet printers targeted toward consumers and SMBs, as well as retail publishing solutions, Snapfish and Logoworks.

LaserJet and enterprise solutions include LaserJet printers and supplies, multi-function printers (MFDs), scanners, and enterprise software solutions, such as Exstream Software and Web Jetadmin. Managed enterprise solutions include managed print services products and solutions delivered to enterprise customers partnering with third-party software providers to offer workflow solutions in the enterprise environment. Graphics solutions include large format printing (Designjet and Scitex), large format supplies, WebPress supplies, Indigo printing, specialty printing systems and inkjet high-speed production solutions. Printer supplies include LaserJet toner and inkjet printer cartridges, graphic solutions ink products and other printing-related media.

HP Financial Services HPFS supports and improves HP's global product and service solutions, providing a range of value-added financial life cycle management services. HPFS enables its worldwide customers to acquire complete IT solutions, including hardware, software and services. The Company offers leasing, financing, utility programs and asset recovery services, as well as financial asset management services for large global and enterprise customers. HPFS also provides a range of specialized financial services to SMBs and educational and governmental entities.

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Corporate Investments Corporate Investments includes Hewlett-Packard Laboratories, also known as HP Labs, network infrastructure products, mobile devices associated with the Palm acquisition, and certain business incubation projects. Revenue in this segment is attributable to the sale of certain network infrastructure products, including Ethernet switch products that improve computing and enterprise solutions under the ProCurve, 3Com and TippingPoint brands. The segment also includes certain video collaboration products sold under the brand Halo, and Palm smartphones, which are targeted at the consumer segment and include the Pixi and Pre models running on the WebOS operating system. Corporate Investments also derives revenue from licensing specific HP technology to third parties.

The Company competes with International Business Machines Corporation, EMC Corporation, NetApp, Inc., Dell, Inc., IBM Global Services, Computer Sciences Corporation, Accenture Ltd., Fujitsu Limited, Wipro Limited, Infosys Technologies Limited, Tata Consultancy Services Ltd., SAP, AG, Oracle Corporation, Microsoft Corporation, CA, Inc., BMC Software, Inc., Symantec Corporation, Teradata Corporation, Acer Inc., ASUSTeK Computer Inc., Apple Inc., Lenovo Group Limited, Toshiba Corporation, Canon U.S.A., Inc., Lexmark International, Inc., Xerox Corporation, Seiko Epson Corporation, Samsung Electronics Co., Ltd., Brother Industries, Ltd. and IBM Global Financing.

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COMPANY PROFILE

Intel Corp. (INTC) Web Site: http://www.intel.com

Intel Corporation, incorporated in 1968, is a semiconductor chip maker, developing advanced integrated digital technology products, primarily integrated circuits, for industries, such as computing and communications. The Company designs and manufactures computing and communications components, such as microprocessors, chipsets, motherboards, and wireless and wired connectivity products, as well as platforms that incorporate these components. It operates in nine operating segments: PC Client Group, Data Center Group, Embedded and Communications Group, Digital Home Group, Ultra-Mobility Group, NAND Solutions Group, Wind River Software Group, Software and Services Group and Digital Health Group. During the fiscal year ended December 26, 2009 (fiscal 2009), it acquired Wind River Systems, Inc., a vendor of software for embedded devices. In May 2010, Micron Technology, Inc. acquired Numonyx B.V.

PC Client Group The PC Client Group (PCCG) offers microprocessors and related chipsets designed for the notebook, netbook, and desktop market segments. In addition, PCCG offers motherboards designed for the desktop market segment, and wireless connectivity products. As of December 31, 2009, its notebook and netbook microprocessor offerings include the Intel Core i7 processor Extreme Edition, Intel Core2 Duo mobile processor, Intel Core i7 mobile processor, Intel Core2 Solo processor, Intel Core i5 mobile processor, Intel Celeron D processor, Intel Core i3 mobile processor, Intel Celeron M processor, Intel Core2 Extreme mobile processor, Intel Celeron processor, Intel Core2 Quad mobile processor and Intel Atom processor. The related chipsets for its notebook and netbook microprocessor offerings primarily include Mobile Intel 5 Series Express Chipsets, Mobile Intel 4 Series Express Chipsets, Mobile Intel 900 Series Express Chipsets, and the Intel NM10 Express Chipset. In addition, it offers wireless connectivity products based on WiFi and WiMAX technologies.

The Company’s desktop microprocessor offerings include the Intel Core i7 processor Extreme Edition, Intel Core2 Quad processor, Intel Core i7 processor, Intel Core2 Duo processor, Intel Core i5 processor, Intel Pentium processor, Intel Coret i3 processor, Intel Celeron processor, Intel Core2 Extreme processor and Intel Atom processor. The related chipsets for its desktop microprocessor offerings primarily include Intel 5 Series Express Chipsets, Intel 4 Series Express Chipsets, Intel 3 Series Express Chipsets and the Intel NM10 Express Chipset. It also offers processor technologies based on its microprocessors, chipsets, and motherboard products that are optimized for the desktop market segment.

Data Center Group The Data Center Group (DCG) offers products that are incorporated into servers, storage, workstations, and other products that help make up the infrastructure for data center and cloud computing environments. DCG’s products include microprocessors and related chipsets, and motherboards and wired connectivity devices. Its server, workstation, and storage microprocessor offerings include the Intel Xeon processor and the Intel Itanium processor. The Company’s Intel Xeon processor family of products supports a range of entry-level to high-end technical and commercial computing applications, such as Internet Protocol data centers. of integrated components.

Embedded and Communications Group The Embedded and Communications Group (ECG) offers microprocessors, including Intel Atom processors, and chipsets for a number of embedded applications across numerous market segments, including industrial, medical, and in-vehicle infotainment. In addition, ECG offers network processors. During fiscal 2009, its new products included Embedded Intel Core i7 processors, Intel Core i5 processors, and Intel Core i3 processors, low-power Intel Xeon processors and Intel Atom processors.

Digital Home Group The Digital Home Group offers products for use in consumer electronics devices designed to access and share Internet, broadcast, optical media, and personal content through a variety of linked digital devices within the home. In addition, it offers components for consumer electronics devices, such as digital televisions (TVs), high-definition media players, and set-top boxes, which receive, decode, and convert incoming data signals. During fiscal 2009, it introduced the Intel Atom processor CE4100, a SoC media processor designed to bring Internet content and services to digital televisions, digital versatile disk (DVD) players, and advanced set-top boxes.

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Ultra-Mobility Group The Ultra-Mobility Group offers Intel Atom processors and related chipsets. These are designed for mobile Internet devices (MIDs) within the handheld market segment.

NAND Solutions Group The NAND Solutions Group offers NAND flash memory products primarily used in portable memory storage devices, digital camera memory cards, solid-state drives, and other devices. Its solid-state drives, available in densities ranging from 2 gigabytes to 160 gigabytes, weigh less than standard hard disk drives. Its NAND flash memory products are manufactured by IM Flash Technologies, LLC (IMFT). During fiscal 2009, the Company introduced 80 gigabytes and 160 gigabytes solid-state drives based on 34 nanometers NAND flash technology, designed for laptop and desktop computers.

Wind River Software Group The Wind River Software Group develops and licenses device software optimization products, including operating systems. The products are used for the needs of customers in the embedded and handheld market segments.

Software and Services Group The Software and Services Group delivers software products and services. It also promotes Intel architecture as the platform of choice for software development.

Digital Health Group Digital Health Group delivers technology-enabled products. The products are designed to reduce healthcare costs, and connect people and information.

The Company competes with Broadcom Corporation, NVIDIA Corporation, QUALCOMM Incorporated, VIA Technologies, Inc., Advanced Micro Devices, Inc., International Business Machines Corporation, Sony Corporation, Toshiba Corporation, ARM Limited, Sun Microsystems, Inc., Freescale Semiconductor, Inc., Texas Instruments Incorporated, Silicon Integrated Systems Corporation, Hynix Semiconductor Inc., Micron, Samsung Electronics Co., Ltd., SanDisk Corporation, Toshiba and Atheros Communications, Inc.

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COMPANY PROFILE

International Business Machines Corp. (IBM) Web Site: http://www.ibm.com

International Business Machines Corporation (IBM), incorporated on June 16, 1911, is an information technology (IT) company. The Company operates under five segments: Global Technology Services segment (GTS); Global Business Services segment (GBS); Software segment; System and Technology segment, and Global Financing segment.

Global Technology Services GTS primarily provides IT infrastructure services and business process services, delivering business value through the Company's global scale, standardization and automation. GTS capabilities include strategic outsourcing services, business transformation outsourcing, integrated technology services and maintenance. The GTS outsourcing businesses are supported by Integrated Technology Delivery (ITD) and Business Process Delivery (BPD). ITD is responsible for service delivery supporting the strategic outsourcing business. ITD operates an integrated delivery model, which supports regional client-facing teams by utilizing a global network of competencies and centers. BPD provides delivery capabilities in IBM's business process delivery operations, which include business transformation outsourcing, business process outsourcing and business process services.

Global Business Services GBS primarily provides professional services and application outsourcing services, delivering business value and innovation to clients through solutions, which leverage industry, and business-process expertise. GBS capabilities include consulting and systems integration and application management services. Consulting and Systems Integration provides consulting services for client-relationship management, financial management, human-capital management, business strategy and change, and supply-chain management. Application Management Services provides application development, management, maintenance and support services for packaged software, as well as custom and legacy applications.

Software Software consists primarily of middleware and operating systems software. Middleware software enables clients to integrate systems, processes and applications across a software platform. IBM middleware is designed on open standards, making it easier to integrate disparate business applications, developed by different methods and implemented at different times. Clients can also purchase ongoing subscription and support, which includes product upgrades and technical support. Its software includes WebSphere Software, Information Management Software, Tivoli Software, Lotus Software, Rational Software and Operating Systems.

Systems and Technology Systems and Technology provides clients with business solutions requiring advanced computing power and storage capabilities. Approximately 55% of Systems and Technology's server and storage sales transactions are through the Company's business partners; approximately 45% are direct to end-user clients. In addition, Systems and Technology provides semiconductor technology, products and packaging solutions to clients and for IBM's own technology needs.

Global Financing Global Financing invests in financing assets, leverages with debt and manages the associated risks. Global Financing comprises three lines of business: Client Financing, Commercial Financing and Remarketing. Client financing provides lease and loan financing to end users and internal clients. Commercial Financing provides short-term inventory and accounts receivable financing to dealers and remarketers of IT products. Remarketing includes the sale and lease of used equipment to new or existing clients both externally and internally. This equipment is primarily sourced from the conclusion of lease transactions.

The Company competes with Accenture, Computer Sciences Corporation, Fujitsu, Hewlett-Packard Company (HP), HCL, Infosys, Tata Consulting Services, Wipro Technologies, BMC Software, CA, Inc., Microsoft Corporation, Oracle Corporation, Dell, Inc. (Dell), EMC Corporation, HP, Sun Microsystems and General Electric Company.

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COMPANY PROFILE

Johnson & Johnson (JNJ) Web Site: http://www.jnj.com/

Johnson & Johnson, incorporated in 1887, is engaged in the research and development, manufacture and sale of a range of products in the health care field. The Company operates in three business segments: Consumer, Pharmaceutical, and Medical Devices and Diagnostics. In July 2009, Johnson & Johnson completed the acquisition of Cougar Biotechnology, Inc. with approximately 95.9% interest in Cougar Biotechnology's outstanding common stock. In September 2009, Elan Corporation, plc and Johnson & Johnson announced that JANSSEN Alzheimer Immunotherapy, a newly formed subsidiary of Johnson & Johnson, has completed the acquisition of substantially all of the assets and rights of Elan related to its Alzheimer's Immunotherapy Program (AIP). In March 2010, Hypermarcas SA acquired 99.99% of Versoix Participacoes Ltda from the Company. In September 2010, the Company acquired Micrus Endovascular, a global developer and manufacturer of minimally invasive devices for hemorrhagic and ischemic stroke.

Consumer The Consumer segment includes a range of products used in the baby care, skin care, oral care, wound care and women’s health care fields, as well as nutritional and over-the-counter pharmaceutical products, and wellness and prevention platforms. The Baby Care franchise includes the JOHNSON’S Baby line of products. The brands in the Skin Care franchise include the AVEENO; CLEAN & CLEAR; JOHNSON’S Adult; NEUTROGENA; RoC; LUBRIDERM; Dabao; and Vendome product lines. The Oral Care franchise includes the LISTERINE and REACH oral care lines of products. The Wound Care franchise includes BAND-AID brand adhesive bandages and PURELL instant hand sanitizer products. Major brands in the Women’s Health franchise are the CAREFREE Pantiliners; STAYFREE sanitary protection products; and Vania Expansion products. The nutritional and over-the-counter lines include SPLENDA, No Calorie Sweetener; the broad family of TYLENOL acetaminophen products; SUDAFED cold, flu and allergy products; ZYRTEC allergy products; MOTRIN IB ibuprofen products; and PEPCID AC Acid Controller from Johnson & Johnson Merck Consumer Pharmaceuticals Co. The products are marketed to the general public and sold both to retail outlets and distributors globally.

Pharmaceutical The Pharmaceutical segment includes products in therapeutic areas, which includes anti-infective, antipsychotic, cardiovascular, contraceptive, dermatology, gastrointestinal, hematology, immunology, neurology, oncology, pain management, urology and virology. The products are distributed directly to retailers, wholesalers and health care professionals for prescription use. The products in the pharmaceutical segment include REMICADE (infliximab), a biologic approved for the treatment of a number of immune mediated inflammatory diseases; PROCRIT (Epoetin alfa, sold outside the United States as EPREX), a biotechnology-derived product that stimulates red blood cell production; LEVAQUIN (levofloxacin) in the anti-infective field; RISPERDAL CONSTA (risperidone), a long-acting injectable for the treatment of schizophrenia; CONCERTA (methylphenidate HCl), a product for the treatment of attention deficit hyperactivity disorder; ACIPHEX/PARIET, a proton pump inhibitor co-marketed with Eisai Inc.; DURAGESIC/Fentanyl Transdermal (fentanyl transdermal system, sold outside the United States as DUROGESIC), a treatment for chronic pain that offers a delivery system; VELCADE (bortezomib), a product for the treatment for multiple myeloma; PREZISTA (darunavir) for the treatment of human immunodeficiency virus/acquired immunodeficiency syndrome (HIV/AIDS) patients; and INVEGA (paliperidone), a once-daily atypical antipsychotic.

Medical Devices and Diagnostics The Medical Devices and Diagnostics segment includes a range of products distributed to wholesalers, hospitals and retailers, used principally in the professional fields by physicians, nurses, therapists, hospitals, diagnostic laboratories and clinics. The products include Cordis’ circulatory disease management products; DePuy’s orthopaedic joint reconstruction, spinal care and sports medicine products; Ethicon’s surgical care, aesthetics and women’s health products; Ethicon Endo-Surgery’s minimally invasive surgical products; LifeScan’s blood glucose monitoring and insulin delivery products; Ortho-Clinical Diagnostics’ professional diagnostic products; and Vistakon’s disposable contact lenses. Distribution to these health care professional markets is done both directly and through surgical supply and other dealers.

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COMPANY PROFILE

Kimberly-Clark Corp. (KMB) Web Site: http://www.kimberly-clark.com

Kimberly-Clark Corporation, incorporated in 1928, is a global health and hygiene company focused on product innovation and building its personal care, consumer tissue, K-C Professional and Other and health care brands. The Company is principally engaged in the manufacturing and marketing of a range of health and hygiene products worldwide. The Company operates in four segments: Personal Care; Consumer Tissue; K-C Professional & Other, and Health Care. During the year ended December 31, 2009, the Company acquired the remaining approximate 31 % interest in its Andean region subsidiary, Colombiana Kimberly Colpapel S.A. In April 2009, the Company announced that it acquired Jackson Products, Inc., a provider of welding safety products, personal protective equipment and work zone safety products. In October 2009, the Company acquired Baylis Medical Company's pain management business, which includes a number of minimally invasive radio-frequency pain management products.

The Personal Care segment manufactures and markets disposable diapers, training and youth pants, and swimpants; baby wipes; feminine and incontinence care products, and related products. Products in this segment are primarily for household use and are sold under a variety of brand names, including Huggies, Pull-Ups, Little Swimmers, GoodNites, Kotex, Lightdays, Depend, Poise and other brand names. The Consumer Tissue segment manufactures and markets facial and bathroom tissue, paper towels, napkins and related products for household use. Products in this segment are sold under the Kleenex, Scott, Cottonelle, Viva, Andrex, Scottex, Hakle, Page and other brand names.

The K-C Professional & Other segment manufactures and markets facial and bathroom tissue, paper towels, napkins, wipers and a range of safety products for the away-from-home marketplace. Products in this segment are sold under the Kimberly-Clark, Kleenex, Scott, WypAll, Kimtech, KleenGuard, Kimcare and Jackson brand names. The Health Care segment manufactures and markets disposable health care products, such as surgical drapes and gowns, infection control products, face masks, exam gloves, respiratory products, pain management products and other disposable medical products. Products in this segment are sold under the Kimberly-Clark, Ballard, ON-Q and other brand names.

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COMPANY PROFILE

Kraft Foods, Inc. (KFT) Web Site: http://www.kraft.com

Kraft Foods Inc. (Kraft Foods), incorporated in 2000, manufactures and markets packaged food products, including snacks, beverages, cheese, convenient meals and various packaged grocery products. It sells the products to consumers in approximately 160 countries. The Company operates three segments: Kraft Foods North America, Kraft Foods Europe and Kraft Foods Developing Markets. At December 31, 2009, the Company had operations in more than 70 countries and made the products at 159 manufacturing and processing facilities globally. At December 31, 2009, the Company’s portfolio included nine brands, including Kraft cheeses, dinners and dressings; Oscar Mayer meats; Philadelphia cream cheese; Maxwell House and Jacobs coffee; Nabisco cookies and crackers and its Oreo cookie brand; Milka chocolates; and LU biscuits. On August 4, 2008, Kraft Foods completed the split-off of the Post cereals business into Ralcorp Holdings, Inc. In February 2010, the Company announced that it has acquired the control of Cadbury plc.

Kraft Foods North America Kraft Foods North America includes the United States Beverages, United States Cheese, United States Convenient Meals, United States Grocery, United States Snacks, and Canada and N.A. Foodservice. Beverages include Maxwell House, Starbucks (under license), Gevalia, General Foods International, Yuban and Seattle’s Best (under license) coffees; Tassimo hot beverage system; Capri Sun (under license) and Kool-Aid packaged juice drinks; Kool-Aid, Crystal Light and Country Time powdered beverages; and Tazo (under license) teas. Cheese includes Kraft and Cracker Barrel natural cheeses; Philadelphia cream cheese; Kraft grated cheeses; Polly-O and Athenos cheese; Velveeta and Cheez Whiz processed cheeses; Kraft and Deli Deluxe processed cheese slices; and Breakstone’s and Knudsen cottage cheese and sour cream.

Convenient Meals include Oscar Mayer and Louis Rich cold cuts, hot dogs and bacon; Lunchables lunch combinations; DiGiorno, Tombstone, Jack’s and California Pizza Kitchen (under license) frozen pizzas; Boca soy- based meat alternatives; Deli Creations complete sandwiches, and Claussen pickles. It also includes Kraft and Kraft Deluxe macaroni and cheese dinners; Stove Top stuffing mix; Taco Bell Home Originals (under license) meal kits; and Velveeta shells and cheese dinners. Grocery includes Jell-O dry packaged desserts; Cool Whip whipped topping; Jell- O refrigerated gelatin and pudding snacks; Jet-Puffed marshmallows; Kraft and Miracle Whip spoonable dressings; Kraft and Good Seasons salad dressings; A.1.steak sauce; Kraft and Bull’s-Eye barbecue sauces; Grey Poupon premium mustards; Shake N’ Bake coatings; and Baker’s chocolate and baking ingredients.

Snacks include Oreo, Chips Ahoy!, Newtons, Nilla, Nutter Butter and SnackWell’s cookies; Ritz, Premium, Triscuit, Wheat Thins, Cheese Nips, Flavor Originals, Honey Maid grahams, Teddy Grahams and Kraft macaroni and cheese crackers; Nabisco 100 Calorie Packs; Planters nuts and trail mixes; Handi-Snacks two-compartment snacks; and Back to Nature granola, cookies, crackers, nuts and fruit & nut mixes. Cheese includes Easy Cheese cheese spread. Canada and foodservice products span all Kraft Foods North America segments and sectors. Canadian brand offerings include Delissio pizza, Nabob coffee, Kraft peanut butter and Peek Freans biscuits, as well as a range of products bearing brand names similar to those marketed in the U.S. The N.A. Foodservice business sells primarily branded products including Maxwell House coffee, Oreo cookies, A.1. steak sauce, and a range of Kraft sauces, dressings and cheeses.

Kraft Foods Europe Kraft Foods Europe includes snacks, beverages, cheese, grocery and convenient meals. Snacks include Milka, Suchard, Cote d’Or, Marabou, Toblerone, Freia, Terry’s, Daim / Dime, Lacta, Pavlides, Twist, Merenda and Mirabell chocolate confectionery products; and Oreo, Digestive, Tuc, Mini-Star, Mikado (under license), Ourson, Petit Dejeuner, Cracotte, Belin, Heudebert, Grany, Petit Écolier, Saiwa, Oro, Fonzies, Start, Prince and Belvita biscuits. Beverages include Jacobs, Gevalia, Carte Noire, Jacques Vabre, Kaffee HAG, Grand’ Mère, Kenco, Saimaza, Maxwell House, Onko, Splendid, Starbucks (under license) and Karat coffees; Tassimo hot beverage system; Tang powdered beverages; and Suchard Express, O’Boy and Kaba chocolate drinks. Cheese includes Dairylea, Sottilette, Osella and El Caserío cheeses, and Philadelphia cream cheese. Grocery includes Kraft pourable and spoonable salad dressings, Miracel Whip spoonable dressings, and Miracoli sauces. Convenient Meals include Lunchables lunch combinations; Mirácoli pasta dinners and sauces, and Simmenthal canned meats.

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Kraft Foods Developing Markets Kraft Foods Developing Markets include snacks beverages, cheese, grocery and convenient meals. Snacks include Milka, Toblerone, Lacta, Cote d’Or, Shot, Terrabusi, Suchard, Alpen Gold, Karuna, Korona, Poiana, Svoge, Ukraina, Vozdushny, Chudny Vecher, Terry’s, Figaro, Prince Polo / Siesta, Piros, Mogyoros and Gallito chocolate confectionery products; Oreo, Chips Ahoy!, Ritz, Club Social, Express, Kraker Bran, Honey Bran, Aveny Bran, Marbu, Variedad, Pacific, Belvita, Cerealitas, Lucky, Trakinas, Tuc, Mikado (under license), Ourson, Petit Déjeuner, Cracotte, Bolshevik, Prichuda, Jubilee, Major, Merendina, Jacob’s, Chipsmore, Twisties, Biskuat / Tiger, Milk Biscuit, Hi Calcium Soda, Pépito, Gyori and PIM’s biscuits; and Estrella, Kar, Lux and Planters nuts and salted snacks.

Beverages include Maxwell House, Maxim, Carte Noire, Nova Brasilia and Jacobs coffee; and Tang, Clight, Kool-Aid, Verao, Frisco, Q-Refres-Ko, Royal and Fresh powdered beverages. Cheese includes Kraft, Velveeta and Eden processed cheeses; Philadelphia cream cheese; Kraft natural cheese; and Cheez Whiz processed cheese spread. Grocery includes Royal dry packaged desserts; Kraft spoonable and pourable salad dressings; Miracle Whip spoonable dressings; Jell-O dessert toppings; Kraft peanut butter; and Vegemite yeast spread. Convenient Meals include Kraft macaroni and cheese dinners.

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COMPANY PROFILE

McDonald’s Corp. (MCD) Web Site: http://www.mcdonalds.com

McDonald’s Corporation franchises and operates McDonald’s restaurants in the food service industry. These restaurants serve a varied, yet limited, value-priced menu in more than 100 countries worldwide. All restaurants are operated either by the Company or by franchisees, including conventional franchisees under franchise arrangements, and foreign-affiliated markets and developmental licensees under license agreements. Independently-owned and operated distribution centers, approved by the Company, distribute products and supplies to most McDonald’s restaurants. In addition, restaurant personnel are trained in the storage, handling and preparation of products and in the delivery of customer service. In February 2009, the Company sold its interest in Redbox Automated Retail, LLC.

The Company’s menu includes hamburgers and cheeseburgers, Big Mac, Quarter Pounder with Cheese, Filet-O-Fish, several chicken sandwiches, Chicken McNuggets, Chicken Selects, Snack Wraps, french fries, premium salads, shakes, McFlurry desserts, sundaes, soft serve cones, pies, cookies, soft drinks, coffee, McCafe beverages and other beverages. In addition, the restaurants sell a range of other products, during limited-time promotions. McDonald’s restaurants in the United States and many international markets offer a full or limited breakfast menu. Breakfast offerings may include Egg McMuffin, Sausage McMuffin with Egg, McGriddles, biscuit and bagel sandwiches, hotcakes and muffins. During the year ended December 31, 2009, of the 32,478 restaurants in 117 countries, 26,216 were operated by franchisees (including 19,020 operated by conventional franchisees, 3,160 operated by developmental licensees and 4,036 operated by foreign affiliated markets (affiliates) primarily in Japan) and 6,262 were operated by the Company.

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COMPANY PROFILE

Microchip Technologies, Inc. (MCHP) Web Site: http://www.microchip.com/

Microchip Technology Incorporated, incorporated in 1989, develops and manufactures semiconductor products used by the customers for a range of embedded control applications. The product portfolio includes 8-bit, 16-bit, and 32-bit peripheral interface controller (PIC) microcontrollers and 16-bit dsPIC digital signal controllers, which feature on-board Flash (reprogrammable) memory technology. In addition, the Company offers a range of linear, mixed-signal, power management, thermal management, safety and security, and interface devices. The products of the Company include microcontrollers, development tools, analog and interface products, and memory products. During the fiscal year ended March 31, 2009 (fiscal 2009), the Company acquired Hampshire Company, which is engaged in the touch screen controller market; HI-TECH Software, which is a provider of software development tools and compilers, and R&E International, which is engaged in developing integrated circuits for smoke and carbon monoxide detectors and other life-safety systems. In January 2010, the Company announced that it has acquired ZeroG Wireless, Inc. In April 2010, the Company completed the acquisition of Silicon Storage Technology, Inc.

Microcontrollers The Company offers a range of microcontroller products marketed under the PIC brand name. The PIC products are designed for applications requiring field programmability. It features a range of memory technology configurations. Digital signal controllers (DSC) are a subset of the 16-bit microcontroller offering. The dsPIC DSC families integrate the control features of the 16-bit microcontrollers with the computation capabilities of digital signal processors (DSPs) along with a range of peripheral functions making them suitable for embedded control applications.

Development Tools The Company offers a range of application development tools. The family of development tools for PIC and dsPIC devices operates in the Windows environment on personal computer (PC) hardware. The tools range from entry-level systems, which include an assembler and programmer or in-circuit debugging hardware, to fully configured systems that provide in-circuit emulation hardware.

Analog and Interface Products The analog and interface products consist of families with approximately 600 power management, linear, mixed- signal, thermal management, safety and security, and interface products. During the fiscal year ended March 31, 2010 (fiscal 2010), the Company shipped mixed-signal analog and interface products to more than 14,000 customers.

Memory Products The memory products consist of serial electrically erasable programmable read-only memory (Serial EEPROMs). It sells the devices into the embedded control. Serial EEPROM products are used for non-volatile program and data storage in systems where such data must be either modified or retained for long periods.

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COMPANY PROFILE

Microsoft Corp. (MSFT) Web Site: http://www.microsoft.com/

Microsoft Corporation, incorporated in 1981, is engaged in developing, manufacturing, licensing and supporting a range of software products and services for different types of computing devices. The Company’s software products and services include operating systems for personal computers, servers and intelligent devices; server applications for distributed computing environments; information worker productivity applications; business solutions applications; computing applications; software development tools, and video games. It operates in five segments: Windows & Windows Live Division (Windows Division), Server and Tools, Online Services Division, Microsoft Business Division, and Entertainment and Devices Division. It provides consulting and product and solution support services, and trains and certifies computer system integrators and developers. The Company also designs and sells hardware, including the Xbox 360 gaming and entertainment console and accessories, the Zune digital music and entertainment device and accessories, and Microsoft personal computer (PC) hardware products. In addition, it offers the enterprise client access license (eCAL) suite, which licenses access to Microsoft server software products.

Windows & Windows Live Division MSFT’s Windows Division is engaged in the development and marketing of the Windows operating system, Windows Live and Internet Explorer. The Company’s products and services in the Windows Division includes Windows 7, including Home Basic, Home Premium, Professional, Ultimate, Enterprise and Starter Edition; Windows Vista, including Home Basic, Home Premium, Ultimate, Business, Enterprise and Starter Edition, and Windows XP Home.

Server and Tools The Company’s Server and Tools segment develops and markets server software, software developer tools, services. Server software is integrated server infrastructure and middleware designed to support software applications built on the Windows Server operating system and includes the server platform, database, storage, management and operations, service-oriented architecture platform, and security and identity software. Server and Tools also builds standalone and software development lifecycle tools for software architects, developers, testers and project managers. Server offerings can be run onsite, in a partner-hosted environment, or in a Microsoft-hosted environment. Its cloud-based services comprise an operating system with compute, storage and management capabilities and a relational database, both of which enables customers to run enterprise workloads and Web applications in the cloud, as well as a platform that assists developers connect applications and services in the cloud or on premise. Server and Tools offers a range of enterprise consulting and product support services (Enterprise Services) that assists customers in developing, deploying and managing Microsoft server and desktop solutions. Server and Tools also provides training and certification to developers and information technology professionals for its Server and Tools, Microsoft Business Division, and Windows & Windows Live Division products and services. The Company’s products in this segment include Windows Server operating system; Windows Azure; Microsoft SQL Server; SQL Azure; Visual Studio; Silverlight; System Center products; Biz Talk Server; Microsoft Consulting Services; Premier product support services, and other products and services.

Online Services Division The Company’s Online Services Division (OSD) consists of online information offerings, such as Bing, MSN portals and channels, as well as an online advertising platform with offerings for both publishers and advertisers. The Company earns revenue primarily from online advertising, including search, display, and advertiser and publisher tools. During the fiscal year ended June 30, 2010 (fiscal 2010), it launched new releases of Bing, MSN and Advertising Platforms. Its products and services in this segment include Bing; Microsoft adCenter; MSN, and Atlas online tools for advertisers and publishers.

Microsoft Business Division Its Microsoft Business Division (MBD) offerings consist of the Microsoft Office system and Microsoft Dynamics business solutions. Microsoft Dynamics products provide business solutions for financial management, customer relationship management (CRM), supply chain management and analytics applications for small and mid-size businesses, large organizations, and divisions of global enterprises. Approximately 80% of MBD revenue is generated from sales to businesses, which includes Microsoft Office system revenue generated, through volume licensing agreements and Microsoft Dynamics revenue. Approximately 20% of MBD revenue is derived from sales to consumers, which includes revenue from retail packaged product sales and other equipment manufacturer’s (OEM) revenue. The products and services in this segment include Microsoft Office; Microsoft SharePoint, and Microsoft Dynamics ERP and CRM, as well as Microsoft Office Web Applications.

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COMPANY PROFILE

Entertainment and Devices Division The Entertainment and Devices Division (EDD) is responsible for developing, producing, and marketing the Xbox 360 platform, including the Xbox 360 gaming and entertainment console and accessories, third-party games, games published under the Microsoft brand, and Xbox LIVE services, as well as research, sales, and support of those products and services; PC software games; online games and services; Mediaroom (its Internet protocol television software); Windows Phone and Windows Embedded device platforms; the Zune digital music and entertainment platform; application software for Apple’s Macintosh computers, Microsoft PC hardware products and other devices. EDD is also responsible for all retail sales and marketing for retail packaged versions of the Microsoft Office system and the Windows operating systems. The products of the Company in this segment include Xbox 360 console and games; Xbox LIVE; Windows Phone; Windows Embedded device operating system; Zune; Mediaroom, and a number of consumer software and hardware products (such as Mac Office, mice and keyboards), and Windows Automotive. The Company competes with Nintendo, Sony, Apple, Google, Nokia, Openwave Systems, Palm, QUALCOMM, Research In Motion, Symbian, IBM, Intel, Metrowerks and MontaVista Software.

The Company competes with Adobe, Apple, Autonomy, BMC, CA Technologies, Cisco, Corel, Google, Hewlett- Packard, IBM, Intel, Novell, Oracle, Red Hat, Sage, Salesforce.com, SAP, Sybase, VMWare, and Yahoo!.

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COMPANY PROFILE

NextEra Energy, Inc. (NEE) Web Site: http://www.nexteraenergy.com/

NextEra Energy, Inc. (NextEra Energy), formerly FPL Group, Inc., incorporated in 1984, is a leading clean-energy company with 2009 revenues of more than $15 billion, nearly 43,000 megawatts of generating capacity, and more than 15,000 employees in 28 states and Canada. Headquartered in Juno Beach, FL, NextEra Energy’s principal subsidiaries are NextEra Energy Resources LLC, the largest generator in North America of renewable energy from the wind and the sun, and Florida Power & Light Company, which serves approximately 4.5 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the country. As of December 31, 2009, the Company had approximately 43,000 megawatts of generating capacity. Through its subsidiaries, NextEra Energy collectively operates the third largest U.S. nuclear power generation fleet. NextEra Energy Resources LLC is engaged in providing renewable energy. NextEra Energy Resources LLC operates power plants and sells the output to utilities, retail electricity providers, power co-operatives, municipal electric providers and industrial companies. Florida Power & Light Company is an electric utility company.

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COMPANY PROFILE

Novartis AG ADR (NVS) Web Site: http://www.novartis.com/

Novartis AG, incorporated on February 29, 1996, is a Switzerland-based holding that, through its subsidiaries, is engaged in the research, development, manufacture and marketing of healthcare products. The Company’s healthcare solutions portfolio includes medicines, preventive vaccines and diagnostic tools, generic pharmaceuticals and consumer health products. Its businesses are divided on a worldwide basis into four operating divisions: Pharmaceuticals, which comprises brand-name patented pharmaceuticals; Vaccines and Diagnostics, which focuses on human vaccines and blood-testing diagnostics; Sandoz, which consists of generic pharmaceuticals, and Consumer Health, which includes over-the-counter medicines, animal health medicines, and contact lenses and lens-care products. It operates in approximately 140 countries

The Company’s products include Diovan, Diovan HCT/Co-Diovan, which is a high blood pressure medicine. Diovan is available in more than 120 countries for treating high blood pressure, in more than 90 countries for heart failure, and in more than 70 countries for heart attack survivors. Exforge is a single-pill combination of the angiotensin receptor blocker Diovan and the calcium channel blocker amlodipine besylate. Tekturna/Rasilez and Valturna are treatments for high blood pressure based on the first approved direct renin inhibitor. Galvus is an oral treatment for type 2 diabetes, and Eucreas is a single-pill combination of vildagliptin and metformin.

Pharmaceuticals Division The Company’s pharmaceuticals division researches, develops, manufactures, distributes and sells branded prescription medicines in the therapeutic areas, which include cardiovascular and metabolism; oncology; neuroscience and ophthalmics; respiratory; immunology and infectious diseases; and other. The pharmaceuticals division is organized into global business franchises responsible for the development and marketing of various products, as well as a business unit called Novartis Oncology, responsible for the global development and marketing of oncology products. During the year ended December 31, 2009, the Pharmaceuticals Division accounted for 65%, of the Company’s net sales.

Vaccines and Diagnostics Division The Company’s vaccines and diagnostics division researches, develops, manufactures, distributes and sells preventive vaccines and diagnostic tools. Novartis Vaccines is a developer and manufacturer of human vaccines. Key products include influenza, meningococcal, pediatric and travel vaccines. Novartis Diagnostics is a blood testing and molecular diagnostics business focused on preventing the spread of infectious diseases through blood-screening tools. During 2009, the vaccines and diagnostics division accounted for 5% of Company’s net sales.

Sandoz Division The Company’s sandoz division is a generic pharmaceuticals company that develops, manufactures, distributes and sells prescription medicines, as well as pharmaceutical and biotechnological active substances. The sandoz division has activities in Retail Generics, Anti-Infectives, Biopharmaceuticals and Oncology Injectables. In Retail Generics, Sandoz develops, manufacture, distributes and sells active ingredients and finished dosage forms of medicines, as well as supplying active ingredients to third parties. In Anti-Infectives, Sandoz develops, manufactures, distributes and sells active pharmaceutical ingredients and intermediates, mainly antibiotics, for internal use by Retail Generics and for sale to third-party customers.

In Biopharmaceuticals, Sandoz develops, manufactures, distributes and sells protein- or biotechnology-based products, known as biosimilars or follow-on biologics, and sells biotech manufacturing services to other companies. In Oncology Injectables, Sandoz develops, manufactures, distributes and sells cytotoxic products for the hospital market. Sandoz offers approximately 1,000 compounds in more than 130 countries. During 2009, Sandoz accounted for 17% of Company’s net sales.

Consumer Health Division The Company’s consumer health division consists of three business units: OTC (over-the-counter medicines), Animal Health and CIBA Vision. Each has its own research, development, manufacturing, distribution and selling capabilities. OTC offers readily available consumer medicine. Animal Health provides veterinary products for farm and companion animals. CIBA Vision markets contact lenses and lens care products. During 2009, the Consumer Health Division accounted for 13% of Company’s net sales.

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COMPANY PROFILE

NSTAR (NST) Web Site: http://www.nstar.com/

NSTAR is a holding company engaged through its subsidiaries in the energy delivery business serving approximately 1.4 million customers in Massachusetts, including approximately 1.1 million electric distribution customers in 81 communities and approximately 300,000 natural gas distribution customers in 51 communities. The Company’s operating segments or line of regulated utility businesses are electric and natural gas distribution operations, which provide energy transmission and delivery services in 107 cities and towns in Massachusetts and its unregulated operations. As of December 31, 2009, utility operations accounted for 99% of consolidated revenues from the Company’s continuing operations.

NSTAR’s retail electric transmission and distribution utility subsidiaries are NSTAR Electric Company (NSTAR Electric) and NSTAR Gas Company (NSTAR Gas). Harbor Electric Energy Company, a wholly owned subsidiary of NSTAR Electric, provides distribution service and ongoing support to its only customer, the Massachusetts Water Resources Authority. NSTAR’s nonutility, unregulated operations include telecommunications operations, NSTAR Communications, Inc. (NSTAR Com) and a liquefied natural gas service company, Hopkinton LNG Corp. (Hopkinton).

NSTAR Electric NSTAR Electric supplies distribution and transmission electricity service at retail to an area of 1,702 square miles. The territory served is located in Massachusetts and includes the City of Boston and 80 surrounding cities and towns, including Cambridge, New Bedford, Plymouth, and the geographic area comprising Cape Cod and Martha’s Vineyard. As of December 31, 2009, commercial and industrial customers accounted for 57% of NSTAR Electric’s operating revenues. As of December 31, 2009, residential customers accounted for 42% of NSTAR Electric’s operating revenues. As of December 31, 2009, other customers accounted for 1% of NSTAR Electric’s operating revenues. At December 31, 2009, NSTAR Electric’s primary and secondary transmission and distribution system consisted of approximately 21,980 circuit miles of overhead lines, approximately 13,020 circuit miles of underground lines, 256 substation facilities and approximately 1,173,500 active customer meters.

NSTAR Gas NSTAR Gas distributes natural gas to approximately 300,000 customers in 51 communities in central and eastern Massachusetts covering 1,067 square miles and having an aggregate population of 1.2 million. The communities served by NSTAR Gas include the Hyde Park area of Boston, Cambridge, Dedham, Framingham, New Bedford, Plymouth, Somerville, and Worcester. NSTAR Gas’ principal natural gas properties consist of distribution mains, services and meters necessary to maintain reliable service to customers. As of December 31, 2009, the gas system included approximately 3,130 miles of gas distribution lines, approximately 188,800 services and approximately 277,900 customer meters together with the necessary measuring and regulating equipment. In addition, Hopkinton owns a liquefaction and vaporization plant, a satellite vaporization plant and above ground cryogenic storage tanks having an aggregate storage capacity equivalent to 3.5 billion cubic feet (Bcf) of natural gas.

NSTAR Gas maintains a portfolio consisting of natural gas supply contracts, transportation contracts on interstate pipelines, market area storage and peaking services. It purchases transportation, storage, and balancing services from Tennessee Gas Pipeline Company and Algonquin Gas Transmission Company, as well as other upstream pipelines, which brings gas from the producing regions in the United States, Gulf of Mexico and Canada to the final delivery points in the NSTAR Gas service area. In addition to the firm transportation and gas supplies, NSTAR Gas utilizes contracts for underground storage and liquefied natural gas (LNG) facilities to meet its winter peaking demands.

Unregulated Operations NSTAR’s unregulated operations include telecommunications and liquefied natural gas service. Telecommunications services are provided through NSTAR Com, which installs, owns, operates, and maintains a wholesale transport network for other telecommunications service providers in the metropolitan Boston area to deliver voice, video, data, and Internet services to customers. During 2009, the revenues earned from NSTAR’s unregulated operations accounted for less than 1% of the consolidated operating revenues. As of December 31, 2009, NSTAR Com owned approximately 240 miles of fiber optic network, which represents approximately 79,000 fiber miles network.

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COMPANY PROFILE

Oracle Corp. (ORCL) Web Site: http://www.oracle.com/

Oracle Corporation, incorporated in 2005, is an enterprise software company. The Company develops, manufactures, markets, distributes and services database and middleware software, applications software and hardware systems, consisting primarily of computer server and storage products. It operates in three segments: software, hardware systems and services. Its software business is consisted of two operating segments: new software licenses and software license updates and product support. Its hardware systems business consists of two operating segments: hardware systems products and hardware systems support. Its services business is consisted of three operating segments: consulting, On Demand and education. In January 2010, the Company acquired Sun Microsystems, Inc. and Silver Creek Systems, Inc.

Software Business The Company’s software business consists of its new software licenses segment and software license updates and product support segment. The new software licenses operating segment of its software business includes the licensing of database and middleware software, as well as applications software. Its software products are designed to operate on both single server and clustered server configurations, which it refers to as grid software, to support a choice of operating systems, including Solaris, Linux, Microsoft Windows and UNIX. New software license revenues include fees earned from granting customers licenses to use its software products and exclude revenues derived from software license updates and product support. Its database and middleware software offerings are designed to provide platform for running and managing business applications for small and mid-size businesses, as well as large, global enterprises. The Oracle Database is an enterprise database and is designed to enable the secure storage, retrieval and manipulation of all forms of data, including transactional data, business application data, analytic data, and unstructured data in the form of extensible markup language (XML) files, office documents, images, video, spatial and other specialized forms of data such as human genomic and medical data. The Oracle Database is used for a variety of purposes, including online transaction processing, data warehousing, as a document repository or specialized data store and as a database with packaged applications. The Oracle Database is available in four editions: Express Edition, Standard Edition One, Standard Edition and Enterprise Edition. In addition to the four editions of the Oracle Database, it also offers a portfolio of specialized database products to address particular customer requirements, such as MySQL, Oracle TimesTen In-Memory Database and Oracle Berkeley DB.

Oracle Fusion Middleware is a broad family of application infrastructure products that is designed to form a reliable and scalable foundation on which customers can build, deploy, secure, access and integrate business applications and automate their business processes. Built on the Java technology platform, Oracle Fusion Middleware suites and products can be used as a foundation for custom, packaged and composite applications. Oracle Fusion Middleware is designed to protect customers’ investment technology (IT) investments and work with both Oracle and non-Oracle database, middleware and applications products through its hot-pluggable architecture (which enables customers to easily install and use Oracle Fusion Middleware products within their existing IT environments) and adherence to industry standards, such as java enterprise edition (Java EE) and business process execution language (BPEL), among others. Oracle SOA Suite is a suite of middleware software products used to create, deploy, and manage applications on a Service-Oriented Architecture including Oracle JDeveloper, Oracle BPEL Process Manager, Oracle Web Services Manager, Oracle Business Rules, Oracle Business Activity Monitoring, and Oracle Service Bus. Oracle Business Process Management Suite is a suite of software designed to enable business and IT professionals to design, implement, automate, and evolve business processes and workflow within and across organizations. Oracle SOA Governance is designed to maintain the security and integrity of its customers’ SOA deployments.

Hardware Systems Business The Company’s hardware systems business consists of two operating segments: hardware systems products and hardware systems support. Its hardware systems products are designed to be open, or to work in customer environments that may include other Oracle or non-Oracle hardware or software components. It offers a range of server systems using its SPARC microprocessor. The Company also offers a range of x86 servers differentiated by the same features as its SPARC servers. These x86 systems are primarily based on microprocessor platforms from Intel Corporation (Intel) and are also compatible with Solaris, Linux, Windows and other operating systems. It offers a line of products aimed at the needs of original equipment manufacturers (OEMs) and network equipment providers (NEPs). Rack-optimized systems and its blade product offerings combine high-density hardware architecture and system management software that OEMs find particularly useful in building their own solution architectures. Its NEP- certified Sun Netra systems are designed to meet the specialized needs of NEPs.

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COMPANY PROFILE

The Company’s range of storage products are designed to securely manage, protect, archive and restore customers’ mission critical data assets and consist of tape, disk, hardware-related software and networking for mainframe and open systems environments. Its tape storage product line includes StorageTEK libraries, drives, virtualization systems, media and device software. Its disk storage product lines include data center arrays, mid-range arrays, unified storage, network attached storage and entry level systems. It also offers software for management and efficient resource utilization and virtualization of storage resources. The Solaris operating system is based on the Unix operating system, but is unique among Unix systems in that it is available on its SPARC servers and x86 servers that include microprocessors from either Intel or Advanced Micro Devices, Inc. The Company also supports Solaris deployed on other companies’ hardware products. In addition to Solaris, it also develops a range of hardware-related software, including development tools, compilers, management tools for servers and storage, diagnostic tools, virtualization and file systems.

Services Business The Company’s services business consists of consulting, On Demand and education. Its consulting services include enterprise architecture design and implementation; business/IT strategy alignment; business process simplification; solution integration, and product implementation, enhancements and upgrades. On Demand includes its Oracle On Demand and Advanced Customer Services offerings. Advanced Customer Services consists of solution lifecycle management services, database and application management services, industry-specific solution support centers, and remote and on-site expert services. It provides training to customers, partners and employees. Its training is provided through a variety of formats, including instructor-led classes at its education centers, live virtual training, self- paced online training, training via CD-ROM, private events and custom training.

The Company competes with Microsoft Corporation, IBM Corporation, Hewlett Packard Company, SAP AG and Intel.

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COMPANY PROFILE

Pepco Holdings, Inc. (POM) Web Site: http://www.pepcoholdings.com

Pepco Holdings, Inc. (PHI), incorporated in 2001, is a diversified energy company. The Company through its operating subsidiaries, is engaged primarily in two businesses: The distribution, transmission and default supply of electricity and the delivery and supply of natural gas (Power Delivery), conducted through Potomac Electric Power Company (Pepco), Delmarva Power & Light Company (DPL) and Atlantic City Electric Company (ACE), and competitive energy generation, marketing and supply (Competitive Energy) conducted through subsidiaries of Conectiv Energy Holding Company (collectively Conectiv Energy) and Pepco Energy Services, Inc. and its subsidiaries (collectively Pepco Energy Services). PHI Service Company, a subsidiary service company of PHI, provides a variety of support services, including legal, accounting, treasury, tax, purchasing and information technology services to PHI and its operating subsidiaries.

Power Delivery The Company’s Power Delivery business consists of the transmission, distribution and default supply of electricity and the delivery and supply of natural gas. During the year ended December 31, 2009, PHI’s Power Delivery operations produced 54% of its consolidated operating revenues (including revenue from intercompany transactions) and 73% of its consolidated operating income (including income from intercompany transactions). Each of Pepco, DPL and ACE is a regulated public utility in the jurisdictions that comprise its service territory. Each company owns and operates a network of wires, substations and other equipment that is classified either as transmission or distribution facilities. Transmission facilities carry wholesale electricity into, or across, the utility’s service territory. Distribution facilities carry electricity to end use customers in the utility’s service territory.

The transmission facilities owned by Pepco, DPL and ACE are interconnected with the transmission facilities of contiguous utilities and are part of an interstate power transmission grid over which electricity is transmitted throughout the mid-Atlantic portion of the United States and parts of the Midwest. The Federal Energy Regulatory Commission (FERC) has designated a number of regional transmission organizations to coordinate the operation and planning of portions of the interstate transmission grid. Pepco, DPL and ACE are members of the PJM Regional Transmission Organization (PJM RTO). PJM Interconnection, LLC (PJM) coordinates the electric power market and the movement of electricity within the PJM RTO region. In accordance with FERC-approved rules, Pepco, DPL, ACE and the other transmission-owning utilities in the region make their transmission facilities available to the PJM RTO and PJM directs and controls the operation of these transmission facilities. Transmission rates are proposed by the transmission owner and approved by FERC. PJM provides billing and settlement services, collects transmission service revenue from transmission service customers and distributes the revenue to the transmission owners. PJM also directs the regional transmission planning process within the PJM RTO region.

Pepco is engaged in the transmission, distribution and default supply of electricity in the District of Columbia and major portions of Prince George’s County and Montgomery County in suburban Maryland. Pepco’s service territory covers approximately 640 square miles and has a population of approximately 2.1 million. As of December 31, 2009, Pepco delivered electricity to 778,000 customers (of which 252,000 were located in the District of Columbia and 526,000 were located in Maryland). DPL is engaged in the transmission, distribution and default supply of electricity in Delaware and portions of Maryland. In northern Delaware, DPL also supplies and distributes natural gas to retail customers and provides transportation-only services to retail customers that purchase natural gas from another supplier. ACE is primarily engaged in the transmission, distribution and default supply of electricity in a service territory consisting of Gloucester, Camden, Burlington, Ocean, Atlantic, Cape May, Cumberland and Salem counties in southern New Jersey.

Competitive Energy The Competitive Energy business provides competitive generation, marketing and supply of electricity and natural gas, and related energy management services primarily in the mid-Atlantic region. These operations are conducted through Conectiv Energy and Pepco Energy Services. During 2009, Competitive Energy operations produced 49% of PHI’s consolidated operating revenues and 20% of PHI’s consolidated operating income. Conectiv Energy divides its activities into two operational categories: Merchant Generation and Load Service and Energy Marketing. Conectiv Energy provides wholesale electric power, capacity and ancillary services in the wholesale markets and also supplies electricity to other wholesale market participants under long- and short-term bilateral contracts. Conectiv Energy also sells natural gas and fuel oil to end users and to wholesale market participants under bilateral agreements.

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COMPANY PROFILE

Pepco Energy Services is engaged in providing energy savings performance contracting services principally to federal, state and local government customers, and designing, constructing, and operating combined heat and power and central energy plants owned by customers and providing high voltage electric construction and maintenance services to customers throughout the United States and low voltage electric construction and maintenance services and streetlight construction and asset management services to utilities, municipalities and other customers in the Washington, D.C. area. Pepco Energy Services owns and operates two oil-fired generating plants. The plants are located in Washington, D.C. and have a generating capacity of approximately 790 megawatts. Pepco Energy Services also owns three landfill gas-fired electricity plants that have a total generating capacity rating of 10 megawatts.

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COMPANY PROFILE

PepsiCo, Inc. (PEP) Web Site: http://www.pepsico.com/

PepsiCo, Inc. (PepsiCo), incorporated in 1919, is a global food, snack and beverage company. The Company’s brands include Quaker Oats, Tropicana, Gatorade, Frito-Lay and Pepsi. It also has regional brands, such as Walkers, Gamesa and Sabritas. Either independently or through contract manufacturers, PepsiCo makes, markets and sells a variety of foods and beverages. Its portfolio includes oat, rice and grain-based snacks, as well as carbonated and non-carbonated beverages, in over 200 countries. Its operations are in North America (United States and Canada), Mexico and the United Kingdom. The Company is organized into three business units: PepsiCo Americas Foods (PAF), which includes Frito-Lay North America (FLNA), Quaker Foods North America (QFNA) and all of its Latin American food and snack businesses (LAF), including its Sabritas and Gamesa businesses in Mexico; PepsiCo Americas Beverages (PAB), which includes PepsiCo Beverages North America and all of its Latin American beverage businesses, and PepsiCo International (PI), which includes all PepsiCo businesses in Europe and all PepsiCo businesses in Asia, Middle East and Africa (AMEA). PepsiCo’s three business units are comprised of six reportable segments: FLNA, QFNA, LAF, PAB, Europe, and AMEA. In March 2010, PepsiCo completed acquisitions of its two bottlers, The Pepsi Bottling Group, Inc. and PepsiAmericas, Inc.

Frito-Lay North America FLNA makes, markets, sells and distributes branded snack foods. These foods include Lay’s potato chips, Doritos tortilla chips, Cheetos cheese flavored snacks, Tostitos tortilla chips, branded dips, Fritos corn chips, Ruffles potato chips, Quaker Chewy granola bars and SunChips multigrain snacks. FLNA branded products are sold to independent distributors and retailers. In addition, FLNA’s joint venture with Strauss Group makes, markets, sells and distributes Sabra refrigerated dips. FLNA’s net revenue was approximated 31% of its total net revenue during the fiscal year ended December 26, 2009 (fiscal 2009).

Quaker Foods North America QFNA makes markets and sells cereals, rice, pasta and other branded products. QFNA’s products include Quaker oatmeal, Aunt Jemima mixes and syrups, Cap’n Crunch cereal, Quaker grits, Life cereal, Rice-A-Roni, Pasta Roni and Near East side dishes. These branded products are sold to independent distributors and retailers. QFNA’s net revenue was approximated 4% of its total net revenue in fiscal 2009.

Latin America Foods LAF makes, markets and sells a number of snack food brands including Gamesa, Doritos, Cheetos, Ruffles, Lay’s and Sabritas, as well as many Quaker-brand cereals and snacks. These branded products are sold to independent distributors and retailers. LAF’s net revenue was approximated 13% of its total net revenue in fiscal 2009.

PepsiCo Americas Beverages PAB makes, markets and sells beverage concentrates, fountain syrups and finished goods, under various beverage brands including Pepsi, Mountain Dew, Gatorade, 7UP (outside the United States), Tropicana Pure Premium, Sierra Mist, Mirinda, Mug, Propel, Manzanita Sol, Tropicana juice drinks, SoBe Lifewater, Dole, Amp Energy, Paso de los Toros, Naked juice and Izze. PAB also, either independently or through contract manufacturers, makes, markets and sells ready-to-drink tea, coffee and water products through joint ventures with Unilever (under the Lipton brand name) and Starbucks. In addition, PAB licenses the Aquafina water brand to its bottlers and markets this brand. PAB sells concentrate and finished goods for some of these brands to authorized bottlers, and some of these branded finished goods are sold directly by it to independent distributors and retailers. PAB’s net revenue was approximated 23% of its total net revenue in fiscal 2009.

Europe Europe makes, markets and sells a number of snack foods including Lay’s, Walkers, Doritos, Cheetos and Ruffles, as well as many Quaker-brand cereals and snacks, through consolidated businesses as well as through noncontrolled affiliates. Europe also, either independently or through contract manufacturers, makes, markets and sells beverage concentrates, fountain syrups and finished goods, under various beverage brands including Pepsi, 7UP and Tropicana. These brands are sold to authorized bottlers, independent distributors and retailers. In certain markets, however, Europe operates its own bottling plants and distribution facilities. In addition, Europe licenses the Aquafina water brand to certain of its authorized bottlers. Europe also, either independently or through contract manufacturers, makes, markets and sells ready-to-drink tea products through an international joint venture with Unilever (under the Lipton brand name). Europe’s net revenue was approximated 16% of its total net revenue in fiscal 2009.

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COMPANY PROFILE

Asia, Middle East & Africa AMEA makes, markets and sells a number of snack food brands including Lay’s, Kurkure, Chipsy, Doritos, Smith’s, Cheetos, Red Rock Deli and Ruffles, through consolidated businesses, as well as through noncontrolled affiliates. Further, either independently or through contract manufacturers, AMEA makes, markets and sells many Quaker- brand cereals and snacks. AMEA also makes, markets and sells beverage concentrates, fountain syrups and finished goods, under various beverage brands including Pepsi, Mirinda, 7UP and Mountain Dew. These brands are sold to authorized bottlers, independent distributors and retailers. However, in certain markets, AMEA operates its own bottling plants and distribution facilities. In addition, AMEA licenses the Aquafina water brand to certain of its authorized bottlers. AMEA also, either independently or through contract manufacturers, makes, markets and sells ready-to-drink tea products through an international joint venture with Unilever (under the Lipton brand name). AMEA’s net revenue was approximated 13% of its total net revenue in fiscal 2009.

PepsiCo competes with The Coca-Cola Company.

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COMPANY PROFILE

Pfizer Inc. (PFE) Web site: http://www.pfizer.com/

Pfizer Inc. (Pfizer), incorporated on June 2, 1942, is a research-based, global biopharmaceutical company. The Company applies science and its global resources to improve health and well-being at every stage of life. Pfizer’s diversified global health care portfolio includes human and animal biologic and small molecule medicines and vaccines, as well as nutritional products and many consumer health care products. The Company operates in two business segments: Biopharmaceutical and Diversified. Biopharmaceutical includes the Primary Care, Specialty Care, Established Products, Emerging Markets and Oncology customer-focused units. Diversified includes Animal Health products that prevent and treat diseases in livestock and companion animals, and Consumer Healthcare products. On October 15, 2009, the Company completed its acquisition of Wyeth.

Biopharmaceutical PFE’s Biopharmaceutical products include products that prevent and treat cardiovascular and metabolic diseases, central nervous system disorders, arthritis and pain, infectious and respiratory diseases, urogenital conditions, cancer, eye disease and endocrine disorders, among others. Revenues from the Biopharmaceutical segment contributed approximately 91% of its total revenues during the year ended December 31, 2009. Lipitor is used for the treatment of elevated LDL-cholesterol levels in the blood, which is a primary prescription treatment for lowering cholesterol. Norvasc is used for treating hypertension, lost exclusivity in the United States and has also expirations in most other markets, including Japan and Canada. Caduet is a single pill therapy combining Lipitor and Norvasc for the prevention of cardiovascular events. Chantix/Champix is a prescription treatment to aid smoking cessation.

Detrol/Detrol LA, a muscarinic receptor antagonist, is a prescribed medicine worldwide for overactive bladder. Detrol LA is an extended-release formulation taken once a day. Sutent is for the treatment of advanced renal cell carcinoma, including metastatic renal cell carcinoma (mRCC), and gastrointestinal stromal tumors (GIST) after disease progression on, or intolerance to, imatinib mesylate. Xalatan, a prostaglandin, is an agent to reduce elevated eye pressure in patients with open-angle glaucoma or ocular hypertension. Xalacom, a fixed combination prostaglandin (Xalatan) and beta blocker (timolol), is available outside the United States. Genotropin a human growth hormone, is used in children for the treatment of short stature with growth hormone deficiency, Prader-Willi Syndrome, Turner Syndrome, Small for Gestational Age Syndrome, Idiopathic Short Stature (in the United States only) and Chronic Renal Insufficiency (outside the United States only), as well as in adults with growth hormone deficiency. Vfend is a systemic, antifungal agent.

Lyrica is indicated for the management of post-herpetic neuralgia (PHN), diabetic peripheral neuropathy (DPN), fibromyalgia, and as adjunctive therapy for adult patients with partial onset seizures in the United States and for neuropathic pain, adjunctive treatment of epilepsy and general anxiety disorder (GAD) outside the United States. Revatio is for the treatment of pulmonary arterial hypertension. Geodon/Zeldox, a psychotropic agent, is a dopamine and serotonin receptor antagonist indicated for the treatment of schizophrenia, acute manic or mixed episodes associated with bipolar disorder and maintenance treatment of bipolar mania.

Aricept, discovered and developed by Eisai Co., Ltd., is a medicine to treat symptoms of Alzheimer’s disease. Celebrex is for the treatment of the signs and symptoms of osteoarthritis and rheumatoid arthritis and acute pain in adults. Zyvox is agent for the treatment of certain serious Gram-positive pathogens, including Methicillin-Resistant Staphylococcus-Aureus. Viagra is used for treatment for erectile dysfunction. Effexor is its antidepressant for treating adult patients with major depressive disorder. Prevnar/Prevnar7 is its vaccine for preventing invasive pneumococcal disease in infants and young children. Its other products include Enbrel, Zosyn, Protonix and Spiriva.

Diversified The Company’s Diversified segment includes products that include over-the-counter health care products, such as pain management therapies, cough/cold/allergy remedies, dietary supplements, hemorrhoidal care and personal care items; Nutrition products, such as infant and toddler formula products, and Capsugel, which represents its gelatin capsules business. It discovers, develops and sells products for the prevention and treatment of diseases in livestock and companion animals. Among the products it markets are antibiotics, anti-inflammatories, antiemetics, parasiticides, and vaccines, including Improvac, which is a gonadotropin releasing factor (GnRF) vaccine for swine that prevents boar taint. Palladia is a treatment of mast cell tumors, a common form of cancer that affects dogs.

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Convenia is an antibiotic for dogs and cats that delivers an assured full course of therapy from a single injection. Cerenia is a selective NK-1 receptor antagonist for the treatment and prevention of vomiting in dogs and for the prevention of motion sickness. Revolution/Stronghold is its parasiticide for dogs and cats. Rimadyl relieves pain and inflammation associated with canine osteoarthritis and soft tissue orthopedic surgery. Draxxin is an effective and convenient single dose antibiotic used to treat infections in cattle and swine. Excede is an effective and convenient single-dose antibiotic used to treat infections in dairy cows, beef cattle and swine.

Suvaxyn PCV2 is an effective vaccine for healthy pigs three weeks of age or older as an aid in the prevention of viremia and as an aid in the control of lymphoid depletion caused by Porcine Circovirus Type 2. Zulvac provides vaccination program for cattle against bluetongue. Capsugel has a diverse product line that includes not only hard gelatin capsules, but also liquid, softgel, non-animal, and fish gelatin capsules, all for use in pharmaceutical and dietary supplement dosage delivery.

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COMPANY PROFILE

Piedmont Natural Gas Co. Inc. (PNY) Web Site: http://www.piedmontng.com

Piedmont Natural Gas Company, Inc. (Piedmont), incorporated in 1950, is an energy services company. The Company is engaged in the distribution of natural gas to over one million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee, including 61,000 customers served by municipalities who are its wholesale customers. It has also invested in joint venture, energy-related businesses, including unregulated retail natural gas marketing, interstate natural gas storage and intrastate natural gas transportation. Piedmont operates in two segments: regulated utility and non-utility activities. The regulated utility segment is the largest segment of the Company’s business accounting for approximately 97% of Piedmont’s consolidated assets.

The non-utility activities segment consists of its equity method investments in joint venture, energy-related businesses, which are involved in unregulated retail natural gas marketing, interstate natural gas storage and intrastate natural gas transportation. Operations of both segments are conducted within the United States. In the Carolinas, the Company’s service area consists of numerous cities, towns and communities. It provides services in Anderson, Gaffney, Greenville and Spartanburg in South Carolina and Charlotte, Salisbury, Greensboro, Winston- Salem, High Point, Burlington, Hickory, Indian Trail, Spruce Pine, Reidsville, Fayetteville, New Bern, Wilmington, Tarboro, Elizabeth City, Rockingham and Goldsboro in North Carolina. In North Carolina, it also provides wholesale natural gas service to Greenville, Monroe, Rocky Mount and Wilson. In Tennessee, its service area is the metropolitan area of Nashville, including wholesale natural gas service to Gallatin and Smyrna.

During the fiscal year ended October 31, 2009 (fiscal 2009), 48% of the Company’s operating revenues were from residential customers, 28% from commercial customers, 10% from large volume customers, including industrial, power generation and resale customers, and 14% from secondary market activities. During fiscal 2009, 123.1 million dekatherms of gas were sold to or transported for large volume customers. Deliveries to temperature-sensitive residential and commercial customers, whose consumption varies with the weather, totaled 93.8 million dekatherms during fiscal 2009.

The Company purchases natural gas under firm contracts to meet its design-day requirements for firm sales customers. As of October 31, 2009, Piedmont owned or had under contract 36.2 million dekatherms of storage capacity, either in the form of underground storage or liquefied natural gas (LNG). The source of the gas distributed by the Company is primarily from the Gulf Coast production region, and is purchased primarily from major and independent producers and marketers.

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COMPANY PROFILE

Procter & Gamble Company (PG) Web Site: http://www.pg.com

The Procter & Gamble Company (P&G), incorporated in 1905, is focused on providing consumer packaged goods. The Company’s products are sold in more than 180 countries primarily through mass merchandisers, grocery stores, membership club stores, drug stores and high-frequency stores, the neighborhood stores, which serve many consumers in developing markets. It has on-the-ground operations in approximately 80 countries. As of June 30, 2010, P&G comprised of three Global Business Units (GBUs): Beauty and Grooming, Health and Well-Being and Household Care. Sales to Wal-Mart Stores, Inc. and its affiliates represent approximately 16% of its total revenue during the fiscal year ended June 30, 2010 (fiscal 2010). In August 2009, AnimalScan, LLC announced that it has acquired Iams Pet Imaging (IPI), LLC from The Procter & Gamble Company and ProScan Imaging. In October 2009, Warner Chilcott Plc completed the acquisition of the Company’s global branded prescription pharmaceutical business. In July 2010, Sara Lee Corporation completed the sale of its air care business to The Procter & Gamble Company.

Beauty The Company’s female beauty brand, Olay is a facial skin care brand. It also operates in fragrances market, through its Dolce & Gabbana, Gucci and Hugo Boss fragrance brands. Its male personal care products include deodorants, face and shave preparation, hair and skin care and personal cleansing products. P&G’s beauty electronics and small home appliances are sold under the Braun brand in a number of markets around the world. Its primary focus in this area is electric hair removal devices, such as electric razors and epilators, where it holds approximately 30% of the male shavers market and 50% of the female epilators market.

Health and Well-Being In the healthcare market it operates in various categories, such as feminine care, gastrointestinal, incontinence, rapid diagnostics, respiratory, toothbrush, toothpaste, water filtration, other oral care. In snacks and per care, the Company operates through its Pringles, Iams and Eukanuba brands. The vast majority of its pet care business is in North America.

Household Care This segment is comprised of a variety of fabric care products, including laundry detergents, additives and fabric enhancers; home care products, including dishwashing liquids and detergents, surface cleaners and air fresheners, and batteries. The Company’s family care business is predominantly a North American business comprised primarily of the Bounty paper towel and Charmin toilet paper brands.

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COMPANY PROFILE

Progress Energy, Inc. (PGN) Web Site: http://www.progress-energy.com/

Progress Energy, Inc. (Progress Energy), incorporated on August 19, 1999, is a holding company primarily engaged in the regulated electric utility business. The Company’s segments are Carolina Power & Light Company (PEC) and Florida Power Corporation (PEF), both of which are primarily engaged in the generation, transmission, distribution and sale of electricity. The Corporate and Other segment primarily includes amounts applicable to the activities of the Company and Progress Energy Service Company (PESC) and other miscellaneous non-regulated businesses. The Utilities have more than 22,000 megawatts of regulated electric generation capacity and serves approximately 3.1 million retail electric customers, as well as other load-serving entities.

Carolina Power & Light Company PEC is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North and South Carolina. At December 31, 2009, PEC had a total summer generating capacity (including jointly owned capacity) of 12,585 megawatts. PEC’s service territory covers approximately 34,000 square miles, including a substantial portion of the coastal plain of North Carolina extending from the Piedmont to the Atlantic coast between the Pamlico River and the South Carolina border, the lower Piedmont section of North Carolina, an area in western North Carolina in and around the city of Asheville and an area in the northeastern portion of South Carolina. At December 31, 2009, PEC was providing electric services, retail and wholesale, to approximately 1.5 million customers. Major wholesale power sales customers include North Carolina Eastern Municipal Power Agency (Power Agency), North Carolina Electric Membership Corporation and Public Works Commission of the City of Fayetteville, North Carolina.

Florida Power Corporation PEF is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of Florida. At December 31, 2009, PEF had a total summer generating capacity (including jointly owned capacity) of 10,013 megawatts. PEF’s service territory covers approximately 20,000 square miles in west central Florida, and includes the areas around Orlando, as well as the cities of St. Petersburg and Clearwater. PEF is interconnected with 22 municipal and nine rural electric cooperative systems. At December 31, 2009, PEF was providing electric services, retail and wholesale, to approximately 1.6 million customers. Major wholesale power sales customers include Seminole Electric Cooperative, Inc., Florida Municipal Power Agency, the city of Gainesville, Tampa Electric Company, and Reedy Creek Improvement District.

Corporate and Other The Corporate and Other segment primarily includes the operations of the Company and PESC. PESC provides centralized administrative, management and support services to its subsidiaries, which generates all of the segment’s revenues. This segment also includes miscellaneous non-regulated business areas.

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COMPANY PROFILE

Qualcomm Inc. (QCOM) Web Site: http://www.qualcomm.com/

QUALCOMM Incorporated (Qualcomm), incorporated in 1985, designs, manufactures and markets digital wireless telecommunications products and services based on its code division multiple access (CDMA) technology and other technologies. The Company operates through four segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); Qualcomm Wireless & Internet (QWI), and Qualcomm Strategic Initiatives (QSI). QCT is a developer and supplier of CDMA-based integrated circuits and system software for wireless voice and data communications, multimedia functions and global positioning system products. QTL grants licenses or otherwise provides rights to use portions of its intellectual property portfolio, which includes certain patent rights essential to and/or useful in the manufacture and sale of certain wireless products. QWI, which includes Qualcomm Enterprise Services (QES), Qualcomm Internet Services (QIS), Qualcomm Government Technologies (QGOV) and Firethorn, generates revenues primarily through mobile information products and services and software and software development aimed at support and delivery of wireless applications.

Qualcomm CDMA Technologies Segment QCT’s integrated circuit products and system software are used in wireless devices, particularly mobile phones, laptops, data modules, handheld wireless computers, data cards and infrastructure equipment. These products provide customers with advanced wireless technology, enhanced component integration and interoperability and reduced time-to-market. QCT markets and sells products in the United States and internationally through a global sales force. QCT products are sold to many wireless device and infrastructure equipment manufacturers. During the fiscal year ended September 26, 2010 (fiscal 2010), QCT shipped approximately 399 million mobile station modem (MSM) integrated circuits for CDMA wireless devices worldwide. QCT revenues comprised 61% of total consolidated revenues in fiscal 2010.

QCT offers a portfolio of products, including both wireless device and infrastructure integrated circuits, in support of CDMA2000 1X and 1x evolution data optimized (EV-DO), as well as the EV-DO Revision A and EV-DO Revision B evolutions of CDMA 2000 technology. It has also developed integrated circuits for manufacturers and wireless operators deploying the Wideband CDMA (WCDMA) version of third-generation (3G). More than 60 device manufacturers have selected its WCDMA products that support global system for mobile communications/ general packet radio service (GSM/GPRS), WCDMA, high-speed downlink packet access (HSDPA), high speed uplink packet access (HSUPA) and high speed packet access (HSPA+) for their devices. The Snapdragon family of chipset products is designed to enable its customers to develop computing-centric devices that also offer a range of wireless connectivity capabilities.

Qualcomm Technology Licensing Segment QTL’s wireless products include products implementing cdmaOne, CDMA2000, WCDMA, CDMA time division duplex (TDD) (including TD-SCDMA), GSM/GPRS/ enhanced data rates for global evolution (EDGE) and/or orthogonal frequency division multiplexing access (OFDMA) (long term evolution (LTE), Worldwide Interoperability for Microwave Access, Inc. (WiMax)) standards and their derivatives. QTL receives license fees, as well as ongoing royalties based on worldwide sales by licensees of products incorporating or using its intellectual property. QTL revenues comprised 33% of total consolidated revenues in fiscal 2010.

Qualcomm Wireless & Internet Segment The four divisions aggregated into QWI comprised: Qualcomm Internet Services (QIS), Qualcomm Enterprise Services (QES), Qualcomm Government Technologies (QGOV) and Firethorn. The QIS division offers a set of software products and content enablement services to support and accelerate the growth and advancement of the wireless data market. QIS offers Brew products and services for wireless applications development, device configuration, application distribution and billing and payment. In addition, QIS offers Plaza products and services that enable mobile shopping experiences across various platforms and devices. The QIS division develops and sells business-to-business products and services to companies worldwide. The QES division provides equipment, software and services to enable companies to wirelessly connect with their assets and workforce. QES offers satellite- and terrestrial-based two-way wireless connectivity and position location services to transportation and logistics fleets and other enterprise companies that permit customers to track the location and monitor performance of their assets, communicate with their personnel and collect data.

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COMPANY PROFILE

The QGOV division provides development, hardware and analytical expertise involving wireless communications technologies to United States government (USG) agencies. QGOV adapts, integrates and ships CDMA2000 1X and EV-DO deployable base stations to the USG. QGOV also developed and launched a Brew-based application providing encryption on mobile devices. Firethorn provides a single, secure, certified application embedded on select wireless devices, which enables financial institutions and merchants to deliver branded services to consumers through the wireless devices. QWI revenues comprised 6% of total consolidated revenues in fiscal 2010.

Qualcomm Strategic Initiatives Segment The Company’s FLO TV subsidiary operates a nationwide multicast network in the United States based on its MediaFLO MDS and MediaFLO technology, which leverages the Forward Link Only (FLO) air interface standard. FLO TV’s network uses the 700 megahertz spectrum for which it holds licenses nationwide. It develops its MediaFLO technology to enable FLO TV and other international wireless operators to optimize the low cost delivery of multimedia content to multiple wireless subscribers simultaneously. Its MediaFLO technology is designed specifically to bring broadcast quality video to mobile devices efficiently and cost effectively. The MediaFLO technology operates on a broadcast network and is complementary to wireless operators operating on CDMA2000 1xEV-DO, WCDMA or GSM networks.

Other Businesses Qualcomm MEMS Technologies (QMT) is developing display technology for the full range of consumer-targeted mobile products. MediaFLO Technologies (MFT) is comprised of the FLO Technology group, which develops its MediaFLO technology, and the FLO International group, which markets MediaFLO for deployment outside of the United States.

The Company competes with Broadcom, Freescale, Fujitsu, Icera, Intel, Marvell Technology, Mediatek, nVidia, Renesas Electronics, ST-Ericsson, Texas Instruments and VIA Telecom, Ericsson, Matsushita, Motorola and Samsung.

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COMPANY PROFILE

SCANA Corp. (SCG) Web Site: http://www.scana.com/

SCANA Corporation (SCANA), through its wholly owned regulated subsidiaries, is primarily engaged in the generation, transmission, distribution and sale of electricity in parts of South Carolina and in the purchase, transmission and sale of natural gas in portions of North Carolina and South Carolina. Through a wholly owned nonregulated subsidiary, SCANA markets natural gas to retail customers in Georgia and to wholesale customers primarily in the southeast. Other subsidiaries provide fiber optic and other telecommunications services and provide service contracts to homeowners on certain home appliances and heating and air conditioning units.

The Company’s wholly owned subsidiaries include South Carolina Electric & Gas Company (SCE&G), South Carolina Generating Company, Inc. (GENCO), South Carolina Fuel Company, Inc. (Fuel Company), Public Service Company of North Carolina, Incorporated (PSNC Energy), Carolina Gas Transmission Corporation (CGT), SCANA Communications, Inc. (SCI), SCANA Energy Marketing, Inc. (SEMI), ServiceCare, Inc. and SCANA Services, Inc. SCE&G is engaged in the generation, transmission, distribution and sale of electricity to retail and wholesale customers and the purchase, sale and transportation of natural gas to retail customers. GENCO owns Williams Station and sells electricity solely to SCE&G. Fuel Company acquires, owns and provides financing for SCE&G’s nuclear fuel, fossil fuel and emission allowances. PSNC Energy purchases, sells and transports natural gas to retail customers. CGT transports natural gas in South Carolina and southeastern Georgia. SCI provides fiber optic communications, Ethernet services and data center facilities and builds, manages and leases communications towers in South Carolina, North Carolina and Georgia. SEMI markets natural gas, primarily in the Southeast, and provides energy-related risk management services. SCANA Energy markets natural gas in Georgia’s retail market. ServiceCare, Inc. provides service contracts on home appliances and heating and air conditioning units. SCANA Services, Inc. provides administrative, management and other services to SCANA’s business units.

Electric Operations The electric operations segment consists of the electric operations of SCE&G, GENCO and Fuel Company, and is primarily engaged in the generation, transmission, distribution and sale of electricity in South Carolina. SCE&G provided electricity to approximately 655,000 customers in an area covering nearly 17,000 square miles. GENCO owns a coal-fired generating station and sells electricity solely to SCE&G. Fuel Company acquires, owns and provides financing for SCE&G’s nuclear fuel, fossil fuel and emission allowance requirements.

Gas Distribution The gas distribution segment consists of the local distribution operations of SCE&G and PSNC Energy and is primarily engaged in the purchase, transmission and sale of natural gas to retail customers in portions of North Carolina and South Carolina. As of December 31, 2009, this segment provided natural gas to 783,000 customers in areas covering 37,000 square miles.

Gas Transmission CGT operates an open access, transportation-only interstate pipeline company regulated by the United States Federal Energy Regulatory Commission (FERC). CGT provides transportation services to SCE&G for its gas distribution customers and for certain electric generation needs and to SEMI for natural gas marketing. CGT also provides transportation services to other natural gas utilities, municipalities and county gas authorities and to industrial customers.

Retail Gas Marketing SCANA Energy, a division of SEMI, consists of the retail gas marketing segment. As of December 31, 2009, this segment marketed natural gas to approximately 455,000 customers throughout Georgia. SCANA Energy provides service to low-income customers and customers unable to obtain or maintain natural gas service from other marketers at rates approved by the Georgia Public Service Commission (GPSC), and SCANA Energy receives funding from the Universal Service Fund to offset some of the bad debt associated with the low-income group. As of December 31, 2009, SCANA Energy’s regulated division served over 90,000 customers.

Energy Marketing The divisions of SEMI, excluding SCANA Energy (Energy Marketing), consist of the energy marketing segment. This segment markets natural gas primarily in the southeast and provides energy-related risk management services to customers.

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COMPANY PROFILE

Schlumberger Ltd. (SLB) Web Site: http://www.slb.com

Schlumberger Limited (Schlumberger) is a supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry. The Company operates in two business segments: Schlumberger Oilfield Services and WesternGeco. The Schlumberger Oilfield Services provides range of products and services from exploration to production. WesternGeco is an advanced surface seismic acquisition and processing company. In March 2010, the Company acquired Geoservices, a French oilfield services company.

Schlumberger Oilfield Services The Company’s Schlumberger Oilfield Services segment manages its business through GeoMarket regions, which are grouped into four geographic areas: North America, Latin America, Europe/Commonwealth of Independent States/Africa, and Middle East and Asia. The GeoMarket structure offers customers a single point of contact at the local level for field operations and brings together geographically focused teams to meet local needs and deliver solutions. Schlumberger Oilfield Services and products covers the entire life cycle of the reservoir.

Wireline provides the information necessary to evaluate the subsurface formation rocks and fluids to plan and monitor well construction, and to monitor and evaluate production. Wireline offers both open-hole and cased-hole services. Drilling and Measurements supplies directional-drilling, measurements-while-drilling and logging-while-drilling services. Testing services provides exploration and production pressure and flow-rate measurement services both at the surface and downhole. Well Services provides services used during oil and gas well drilling and completion, as well as those used to maintain optimal production throughout the life of a well. The services include pressure pumping, well cementing and stimulation operations, as well as intervention activities. The Technology also develops coiled-tubing equipment and services.

Completions provide completion services and equipment that include gas-lift and safety valves, as well as a range of intelligent well completions technology and equipment. Artificial Lift provides production optimization services using electrical submersible pumps and associated equipment. Data and Consulting Services supplies interpretation and integration of all exploration and production data types, as well as expert consulting services for reservoir characterization, production enhancement, field development planning, and multi-disciplinary reservoir and production solutions. Schlumberger Information Solutions (SIS) provides consulting, software, information management, and information technology (IT) infrastructure services that support oil and gas industry operational processes.

Schlumberger Oilfield Services also offers customers its services through a business model known as Integrated Project Management (IPM). IPM combines the required services and products of the Technologies with drilling rig management expertise and project management skills to provide a solution to well construction and production improvement. Schlumberger Oilfield Services uses its own personnel to market its services and products. Schlumberger is a 40% owner in M-I SWACO, a joint venture with Smith International, Inc., which offers drilling and completion fluids used to stabilize subsurface rock strata during the drilling process and minimize formation damage during completion and workover operations.

WesternGeco WesternGeco provides reservoir imaging, monitoring and development services, with seismic crews and data processing centers in the industry, as well as a multi-client seismic library. Services range from three-dimensional (3D) and time-lapse four dimensional (4D) seismic surveys to multi-component surveys for delineating prospects and reservoir management. Seismic solutions include Q technology for enhanced reservoir description, characterization and monitoring throughout the life of the field, from exploration through enhanced recovery. Other WesternGeco solutions include development of controlled-source electromagnetic and magneto-telluric surveys, and their integration with seismic data.

WesternGeco offers a range of technologies and services. Land Seismic provides resources for seismic data acquisition on land and across shallow-water transition zones. Marine Seismic provides seismic acquisition and processing system, as well as a carlibrated single-sensor marine seismic system. Multiclient Services supply seismic data from the multi-client data library. Reservoir Services provides the people, tools and technology to help customers capture the benefits of an integrated approach to locating, defining and monitoring the reservoir. Data Processing offers seismic data processing centers for complex data processing projects. Electromagnetics provides controlled- source electromagnetic and magneto-telluric data acquisition and processing.

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COMPANY PROFILE

Schwab GNMA Fund (SWGSX) Web Site: https://www.schwabfunds.com/

The Schwab GNMA Fund seeks high current income consistent with preservation of capital. To pursue this goal, the Fund normally invests at least 80% of its assets in securities issued by the Government National Mortgage Association (GNMA). It may also invest in securities issued by the U.S. government or its other agencies and instrumentalities such as the Federal National Mortgage Association. The Fund may also invest in mortgage-backed and asset-backed securities, collateralized mortgage obligations, repurchase agreements, corporate bonds, commercial paper and other corporate obligations.

The Schwab GNMA Fund provides investors with current monthly income that is generally higher than those of Treasury investments with comparable maturities. With competitive expenses, extensive credit oversight and professional portfolio management by skilled money managers, the Fund offers an efficient and convenient way for investors to tap into the benefits and security of GNMA bonds.

Charles Schwab Investment Management's taxable fixed income strategies team actively manages the Schwab GNMA Fund. The team of credit research analysts, understands and manages risk on a variety of levels, including interest rates, credit and volatility, to ensure that the Fund selects securities that meet specific criteria balanced with the expectations of its shareholders. The Lead Portfolio Manager of the Fund has been Matthew Hastings since November 15, 2004. Hastings is a managing director and portfolio manager of Charles Schwab Investment Management. He joined the firm in 1998 and has worked in fixed-income and asset management since 1996. Hastings holds the Chartered Financial Analyst designation.

Portfolio characteristics as of November 30, 2010 are shown below:

Average Duration: 2.9 years Average Maturity: 3.4 years Average Quality: AAA Average Coupon: 5.2%

Allocations by coupon as of November 30, 2010 are shown below (% of Fund):

0.0% to 4.0% 1.2% 4.0% to 6.0% 92.6% 6.0% to 8.0% 6.2% Total 100.0%

As of September 30, 2010, the Fund was rated 4 stars out of a total possible 5 stars by Morningstar, Inc. and the Fund’s 5-year average annual performance placed it in the top quartile of the Morningstar Intermediate Government category.

Sources: Morningstar, Inc. and the Charles Schwab Co.

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COMPANY PROFILE

Southern Company (SO) Web Site: http://www.southerncompany.com/

The Southern Company (Southern Company), incorporated on November 9, 1945, owns all of the outstanding common stock of Alabama Power, Georgia Power, Gulf Power, and Mississippi Power, each of which is an operating public utility company. The traditional operating companies supply electric service in the states of Alabama, Georgia, Florida, and Mississippi. In addition, Southern Company owns all of the common stock of Southern Power, which is also an operating public utility company. Southern Power constructs, acquires, owns, and manages generation assets and sells electricity at market-based rates in the wholesale market. Southern Company also owns all of the outstanding common stock or membership interests of SouthernLINC Wireless, Southern Nuclear, SCS, Southern Holdings, Southern Renewable Energy, and other direct and indirect subsidiaries.

SouthernLINC Wireless provides digital wireless communications for use by Southern Company and its subsidiary companies and markets these services to the public and also provides wholesale fiber optic solutions to telecommunication providers in the Southeast. Southern Nuclear operates and provides services to Alabama Power’s and Georgia Power’s nuclear plants and is developing new nuclear generation at Plant Vogtle. SCS is the system service company providing specialized services to Southern Company and its subsidiary companies. Southern Holdings is an intermediate holding subsidiary for Southern Company’s investments in leveraged leases. Southern Renewable Energy was formed in January 2010, to acquire, own, and construct renewable generation assets.

The subsidiary companies of Southern Company are engaged in continuous construction programs to accommodate existing and estimated future loads on their respective systems. Alabama Power is engaged, within the State of Alabama, in the generation and purchase of electricity and the transmission, distribution, and sale of such electricity at retail in over 650 communities (including Anniston, Birmingham, Gadsden, Mobile, Montgomery, and Tuscaloosa), as well as in rural areas, and at wholesale to 15 municipally-owned electric distribution systems, 11 of which are served indirectly through sales to Alabama Municipal Electric Authority (AMEA), and two rural distributing cooperative associations. Alabama Power owns coal reserves near its Plant Gorgas and uses the output of coal from the reserves in its generating plants. Alabama Power also sells, and cooperates with dealers in promoting the sale of, electric appliances.

Georgia Power is engaged in the generation and purchase of electricity and the transmission, distribution, and sale of such electricity within the State of Georgia at retail in over 600 communities (including Athens, Atlanta, Augusta, Columbus, Macon, Rome, and Savannah), as well as in rural areas, and at wholesale currently to OPC, MEAG Power, Dalton, Hampton, and various electric membership corporations. Gulf Power is engaged, within the northwestern portion of Florida, in the generation and purchase of electricity and the transmission, distribution, and sale of such electricity at retail in 71 communities (including Pensacola, Panama City, and Fort Walton Beach), as well as in rural areas, and at wholesale to a non-affiliated utility and a municipality. Mississippi Power is engaged in the generation and purchase of electricity and the transmission, distribution, and sale of such electricity within 23 counties in southeastern Mississippi, at retail in 123 communities (including Biloxi, Gulfport, Hattiesburg, Laurel, Meridian, and Pascagoula), as well as in rural areas, and at wholesale to one municipality, six rural electric distribution cooperative associations, and one generating and transmitting cooperative.

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COMPANY PROFILE

Stryker Corporation (SYK) Web Site: http://www.stryker.com/

Stryker Corporation (Stryker), incorporated in 1946, is a medical technology company with a range of products in orthopaedics and a presence in other medical specialties. The Company's products include implants used in joint replacement, trauma, spinal and craniomaxillofacial; surgical equipment and surgical navigation systems, endoscopic and communications systems; patient handling and emergency medical equipment, as well as other medical device products used in a variety of medical specialties. The Company operates in two business segments: Orthopaedic Implants and MedSurg Equipment. The Orthopaedic Implants segment sells orthopaedic reconstructive (hip and knee), trauma, and spinal implant systems and other related products. The MedSurg Equipment segment sells surgical equipment and surgical navigation systems; endoscopic and communications systems; as well as patient handling and emergency medical equipment.

Orthopaedic Implants Orthopaedic Implants are designed and manufactured by Stryker Orthopaedics, Stryker Osteosynthesis, Stryker Spine and Stryker Biotech and consist of such products as implants used in joint replacement, trauma, craniomaxillofacial and spinal surgeries; bone cement; and the bone growth factor OP-1. Artificial joints are made of cobalt chromium, titanium alloys, ceramics or ultrahigh molecular weight polyethylene and are implanted in patients whose natural joints have been damaged by arthritis, osteoporosis, other diseases or injury.

Through Stryker Orthopaedics, the Company offers a range of hip implant systems for the global reconstructive market. The ABG Hip System, Partnership Hip System, Secur-Fit Hip System, Omnifit Hip System, Accolade Hip System, Centpillar Hip System, Trident Acetabular Hip System, ADM Mobile Bearing Hip System, Rejuvenate Modular Primary Hip System, Cormet Hip Resurfacing System and Restoration Hip System. As of December 31, 2009, the Company introduced Rejuvenate Modular Primary Hip System. The Rejuvenate Modular Primary Hip System offers surgeons unparalleled options for personalizing the implant to each patient’s anatomy. The Rejuvenate System is designed to optimize anatomic restoration by providing options that offer enhanced stability, proven modularity and introperative flexibility. The Company’s Exeter Total Hip System is based on a collarless, highly polished, double-tapered femoral design that reduces shear stresses and increases compression at the cement/bone interface.

The Company’s advanced bearing system, Low Friction Ion Treatment (LFIT) Anatomic Femoral Heads with X3 polyethylene liners represents a advance in hip-bearing technology through the combination of Stryker’s LFIT technology and X3 advanced bearing technology. The femoral heads are anatomically sized for more natural hip performance. X3 advanced bearing technology is the Company’s highly crosslinked polyethylene, which demonstrates enhanced material characteristics in laboratory testing, including improved strength, reduced wear and oxidation resistance. This second generation bearing option offers a technological advance for both hip and knee replacements. Stryker offers an array of femoral stem options and bearings to accommodate the hip fracture patient including the Accolade HFx stem and the UHR bipolar head.

The Restoration Modular Revision Hip System offers surgeons performing revision surgeries flexibility in treating complex hip stem revisions and restoring patient biomechanics. The Restoration Modular Revision Hip System also takes advantage of Stryker’s long clinical history with HA by incorporating PureFix HA coating on many components. The Restoration Modular Revision Hip System complements the Company’s existing Restoration HA and Restoration plasma spray (PS) monolithic revision systems. The Company’s Trident Tritanium Acetabular Shell contains a highly porous surface that closely resembles the structure of bone.

The Company offers three knee implant systems: Triathlon, Scorpio and the Global Modular Replacement System (GMRS). The Triathlon Knee instrumentation is designed to improve operating room efficiency through a streamlined, integrated system providing options and flexibility to meet surgeons’ varying preferences and multiple surgical techniques. The GMRS is a global product that offers a solution for severe bone loss in oncology, trauma and revision surgery patients. GMRS has tibial and femoral components, including a total femur, and a modular rotating hinge knee. The system employs both titanium and cobalt chrome alloys for strength and lightness of weight, together with the superior flexibility of the hinge. The Scorpio HA CR product is designed to minimize polyethylene wear and the Scorpio HA PS product features a minimally invasive open box design and maximized stability. The ScorpioFlex, which is available for both posterior cruciate-retaining and cruciate-substituting indications, is specifically designed for patients who have the ability and motivation to return to high-flexion activities such as gardening and golfing.

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COMPANY PROFILE

The Company develops and markets shoulder and elbow replacement implants, as well as associated instrumentation. The Solar Shoulder portfolio provides surgeons with increased intra-operative flexibility to restore the patient’s shoulder functionality and pain relief. These products are marketed worldwide under the ReUnion and Solar brands. Through Stryker Osteosynthesis, the Company develops, manufactures and markets trauma, extremities and deformity correction systems. These systems include Intramedullary (IM) and cephlomedullary nails, locked and non- locked plating, hip fracture solutions and external fixation systems, as well as bone substitutes that are used primarily for the treatment of traumatic injuries. The Company’s internal fixation portfolio includes an array of IM & cephlomedullary nails; hip fracture solutions, including compression hip screws, canulated screws, as well as anatomically designed plates and screws in both titanium and stainless steel. The Company’s external fixation portfolio includes products such as Hoffmann II MRI, Hoffmann Xpress, Monotube Triax mono-lateral, as well as the Hoffmann II Hybrid (TenXor) circular fixation systems.

The Company also offers a product portfolio for the treatment of fractures and injuries of the extremities. These products include fracture specific locked plating for the wrist, shoulder and foot, as well as bone substitutes and external fixation systems. The VariAx Distal Radius System offers surgeons a comprehensive solution for the treatment of wrist fractures. These titanium plates are anatomically designed and offer poly-axial SmartLock technology. SmartLock enables surgeons to place either locking or non-locking screws at angles of up to 15-degrees, which allows the surgeon to target specific bone fragments for fixation. Through Stryker Spine, the Company develops, manufactures and markets spinal implant products including cervical, thoracolumbar and interbody systems used in spinal injury, deformity and degenerative therapies. Spinal implant products include plates, rods, screws, connectors, spacers and cages. Through Stryker Osteosynthesis, the Company develops, manufactures and markets plating systems and related implants and products for craniomaxillofacial surgery. These products include plating systems, dura substitutes, bone substitutes, electrosurgical microdissection needles and surgical instruments.

MedSurg Equipment MedSurg Equipment products include surgical equipment and surgical navigation systems; endoscopic and communications systems and patient handling and emergency medical equipment. These products are designed and manufactured by Stryker Instruments, Stryker Endoscopy and Stryker Medical. Through Stryker Instruments, the Company offers a line of surgical, neurologic, ENT and interventional spine equipment that is used in surgical specialties for drilling, burring, rasping or cutting bone in small-bone orthopaedics, neurosurgical, spine and ENT procedures; wiring or pinning bone fractures; and preparing hip or knee surfaces for the placement of artificial implants. Stryker Instruments also manufactures an array of different attachments and cutting accessories for use by orthopaedic, neurologic and small-bone specialists. The System 6 heavy duty, large-bone power system represents the Company’s primary heavy-duty, cordless product offering. This system, which includes several attachments, is more powerful and has a longer battery life than its predecessor. The System 6 Rotary Handpieces provide multiple options to surgeons by allowing both high-speed drilling and high-torque reaming in one handpiece.

The Company’s Stryker Precision Oscillating Tip Saw is an innovative saw incorporating a stationary cartridge blade shaft with an oscillating tip in contrast with standard surgical saws with oscillating blades. Stryker Instruments also produces disposable products that are utilized in conjunction with joint replacement surgery. These products include the Revolution Cement Mixing System, designed to provide one solution for mixing all surgical cements, in addition to offering mixing efficacy, safety and ease of use; the InterPulse, a self-contained pulsed lavage system used by surgeons to cleanse the surgical site during total joint arthroplasty; and the ConstaVac CBC II Blood Conservation System, a postoperative wound drainage and blood reinfusion device that enables joint replacement patients to receive their own blood rather than donor blood.

The Neptune Waste Management System represents Stryker’s leading product for liquid waste management in the operating room. The self-contained device and consistently improved, collects and disposes of fluid and smoke waste from surgical procedures, minimizing the need for operator intervention and, therefore, the risk of exposure to these waste byproducts. Through Stryker Instruments, the Company offers a broad line of surgical navigation systems that give surgeons in several specialties the ability to use electronic imaging to see more clearly, better align instruments and more accurately track where the instruments are relative to a patient’s anatomy during surgical procedures. The Company offers the Navigation System II Cart, the eNlite suitcase system, which creates a smaller footprint in the operating room while retaining the full functionality of all software programs offered on the Navigation System II Cart, and the Navigation iSuite, a fully integrated navigation system housed in the ceiling and walls of an existing operating room.

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COMPANY PROFILE

Stryker Endoscopy develops, manufactures and markets medical video-imaging and communications equipment and instruments for arthroscopy, general surgery and urology. Stryker Endoscopy has established a position in the production of medical video-imaging technology and accessories for minimally invasive surgery, as well as communications equipment to facilitate local and worldwide sharing of medical information among operating rooms, doctors’ offices and teaching institutions. Products include medical video cameras, digital documentation equipment, digital image and viewing software, arthroscopes, laparoscopes, powered surgical instruments, sports medicine instrumentation, radio frequency ablation systems, irrigation fluid management systems, i-Suite operating room solutions and state-of-the-art equipment for telemedicine and enterprise-wide connectivity. Stryker’s line of rigid scopes, which range in diameter from 1.9 millimeters to 10 millimeters, contains a series of precision lenses as well as fiber optics that, when combined with Stryker’s high-definition (HD) camera systems, allow the physician to view internal anatomy with clarity.

The Company offers the M-Series Stretcher, which has become the standard in patient mobility. The M-Series Stretcher incorporates the Company’s BackSmart side rail design elements, reducing the risk of back injury for caregivers; the Zoom Motorized Drive System, virtually eliminating push force; Big Wheel technology, reducing start- up force by up to 50 percent and increasing maneuverability; and a 700-pound weight capacity. Stryker Medical also develops and manufactures beds and accessories that are designed to meet the needs of specialty departments within the acute care environment. To serve the pre-hospital market, the Company offers a line of manually operated and powered ambulance cots and cot-to-ambulance fastening systems. In addition, Stryker offers the Stair-PRO stair chairs with Stair-TREAD track systems that facilitate patient transport up and down stairs. The Company’s Power- PRO ambulance cot incorporates an advanced battery-powered hydraulic lift system that enables emergency medical professionals to raise and lower the cot with the press of a button.

The Company competes with DePuy Orthopaedics, Inc., Zimmer Holdings, Inc., Biomet, Inc., Smith & Nephew plc, Synthes, Inc., Medtronic Sofamor Danek, Inc., DePuy Spine, Inc., Biomet Microfixation, LLC, KLS Martin L.P., Conmed Linvatec, Inc., Aesculap-Werke AG Medtronic Surgical Navigation Technologies, BrainLAB Inc., AESCULAP AG & Co. KG, Radionics, Inc., GE Medical Systems Navigation and Visualization, Inc., Conmed Linvatec, Inc., Arthrex, Inc., Karl Storz GmbH & Co., Olympus Optical Co. Ltd., Hill-Rom Holdings, Inc., Hausted, Inc., Midmark Hospital Products Group and Ferno-Washington, Inc.

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COMPANY PROFILE

Sysco Corp. (SYY) Web Site: http://www.sysco.com

Sysco Corporation (Sysco), along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company provides products and related services to approximately 400,000 customers, including restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers. Sysco provides food and related products to the foodservice or food-away-from-home industry. The Company has aggregated its operating companies into a number of segments, of which only Broadline and SYGMA are the main segments. Broadline operating companies distribute a line of food products and a variety of non-food products to their customers. SYGMA operating companies distribute a line of food products and a variety of non-food products to chain restaurant customer locations. During the fiscal year ended July 3, 2010 (fiscal 2010), Sysco acquired a broadline foodservice operation in Syracuse, New York, a produce distributor in Atlanta, Georgia and a seafood distributor in Edmonton, Alberta, Canada. In July 2010, the Company acquired Lincoln Poultry & Egg Co., a foodservice distributor.

The Company’s other segments include its specialty produce, custom-cut meat and lodging industry products segments and a company that distributes to international customers. Specialty produce companies distribute fresh produce and, on a limited basis, other foodservice products. Specialty meat companies distribute custom-cut fresh steaks, other meat, seafood and poultry. Its lodging industry products company distributes personal care guest amenities, equipment, housekeeping supplies, room accessories and textiles to the lodging industry. Sysco’s customers in the foodservice industry include restaurants, hospitals, schools, hotels, industrial caterers and other similar venues where foodservice products are served.

The products the Company distributes include a line of frozen foods, such as meats, fully prepared entrees, fruits, vegetables and desserts; full line of canned and dry foods; fresh meats; dairy products; beverage products; imported specialties, and fresh produce. Sysco also supplies a variety of non-food items, including paper products, such as disposable napkins, plates and cups; tableware, such as china and silverware; cookware, such as pots, pans and utensils; restaurant and kitchen equipment and supplies, and cleaning supplies. No single customer accounted for 10% or more of Sysco’s total sales during fiscal 2010.

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COMPANY PROFILE

T. Rowe Price Group, Inc. (TROW) Web site: http://www.troweprice.com

T. Rowe Price Group, Inc. is a financial services holding company that provides investment advisory services to individual and institutional investors in the sponsored T. Rowe Price mutual funds and other investment portfolios. The Company operates its investment advisory business through its subsidiary companies, primarily T. Rowe Price Associates, T. Rowe Price International and T. Rowe Price Global Investment Services. The Company also manages a range of United States and international stock, blended asset, bond, and money market mutual funds and other investment portfolios, which are designed to meet the varied and changing needs and objectives of individual and institutional investors. On January 20, 2010, the Company completed the acquisition of 26% equity interest in UTI Asset Management Company (India).

The Company’s assets under management are accumulated from a client base across four primary distribution channels: third-party financial intermediaries that distribute its managed investment portfolios in the United States and other countries, individual United States investors on a direct basis, United States defined contribution retirement plans, and institutional investors in the United States and other countries. The Company also provides certain administrative services as ancillary services to its investment advisory clients.

Price Funds The Company provides investment advisory, distribution and other administrative services to the Price funds under various agreements. Investment advisory services are provided to each fund under individual investment management agreements that grant the fund the right to use the T. Rowe Price name. Investment advisory revenues are based upon the daily net assets managed in each fund. Certain of the T. Rowe Price mutual funds also offer an advisor and R classes of shares that are distributed to mutual fund shareholders through third-party financial intermediaries. The Company’s subsidiary, T. Rowe Price Investment Services, is the principal distributor of the T. Rowe Price mutual funds and enters into agreements with each intermediary.

The Company provides advisory-related administrative services to the Price funds through its subsidiaries. T. Rowe Price Services provides mutual fund transfer agency and shareholder services, including maintenance of staff, facilities, and technology and other equipment to respond to inquiries from fund shareholders. T. Rowe Price Associates provides mutual fund accounting services, including maintenance of financial records, preparation of financial statements and reports, daily valuation of portfolio securities and computation of daily net asset values per share. T. Rowe Price Retirement Plan Services provides participant accounting, plan administration and transfer agent services for defined contribution retirement plans that invest in the Price funds.

The Company’s trustee services are provided by another subsidiary, T. Rowe Price Trust Company, which offers common trust funds for investment by qualified retirement plans and serve as trustee for retirement plans and individual retirement plans (IRAs). T. Rowe Price Trust Company may not accept deposits and cannot make personal or commercial loans. Another subsidiary, T. Rowe Price Savings Bank, issues federally insured certificates of deposit. The Company also provides advisory planning services to fund shareholders and potential investors through its subsidiary T. Rowe Price Advisory Services. These services include retirement planning services, such as saving for retirement, transitioning into retirement and income in retirement.

At December 31, 2009, assets under management in the Price funds aggregated $232.7 billion.

Other Investment Portfolios As of December 31, 2009, the Company managed $158.6 billion in other client investment portfolios. The Company provides investment advisory services to these clients through its subsidiaries on a separately managed or sub- advised account basis and through sponsored investment portfolios, such as common trust funds, Luxembourg-based mutual funds and variable annuity life insurance plans. As of December 31, 2009, these portfolios included United States stocks, international stocks, stable value assets and, bonds and money market securities.

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COMPANY PROFILE

Target Corp. (TGT) Web site: http://www.target.com/

Target Corporation (Target), incorporated in 1902, operates Target general merchandise stores with an assortment of general merchandise and food items. During the fiscal year ended January 30, 2010 (fiscal 2009), the Target stores also included a deeper food assortment, including perishables and an offering of dry, dairy and frozen items. In addition, the Company operates SuperTarget stores with a line of food and general merchandise items. Target.com offers an assortment of general merchandise, including various items found in its stores and a complementary assortment, such as extended sizes and colors, sold only online. The Company operates in two segments: Retail and Credit Card. The Retail segment includes all of its merchandising operations, including its general merchandise and food discount stores in the United States and its integrated online business. The Credit Card segment offers credit to qualified guests through its branded credit cards, the Target Visa and the Target Card (collectively, REDcards).

The Company’s Retail segment offers both everyday essentials and fashionable, differentiated merchandise at discounted prices. Its online shopping site offers similar merchandise categories to those found in its stores, excluding food items and household essentials. As of January 30, 2010, the Company operated 38 distribution centers, including 4 food distribution centers. A significant portion of the Company’s sales is from national brand merchandise. In addition, it sells merchandise under private-label brands including, but not limited to, Archer Farms, Archer Farms Simply Balanced, Boots & Barkley, Choxie, Circo, Durabuilt, Embark, Gilligan & O'Malley, itso, Kaori, Market Pantry, Merona, Play Wonder, Room Essentials, Smith & Hawken, Sutton and Dodge, Target Home, Vroom, up & up, Wine Cube, and Xhilaration.

The Company sells merchandise through programs, such as ClearRx, GO International, Great Save and Home Design Event. In addition, it sells merchandise under exclusive licensed and designer brands, including, but not limited to, C9 by Champion, Chefmate, Cherokee, Converse One Star, Eddie Bauer, Fieldcrest, Genuine Kids by Osh Kosh, Kitchen Essentials by Calphalon, Liz Lange for Target, Michael Graves Design, Mossimo, Nick & Nora, Sean Conway, Simply Shabby Chic, Sonia Kashuk, and Thomas O'Brien. It also generates revenue from in-store amenities, such as Target Cafe, Target Clinic, Target Pharmacy, and Target Photo, and from leased or licensed departments, such as Optical, Pizza Hut, Portrait Studio and Starbucks.

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COMPANY PROFILE

Teva Pharmaceutical Industries Ltd. (TEVA) Web Site: http://www.tevapharm.com

Teva Pharmaceutical Industries Limited (Teva), incorporated on February 13, 1944, is a global pharmaceutical company that develops, produces and markets generic drugs covering all treatment categories. The Company has a pharmaceutical business, whose principal products are Copaxone for multiple sclerosis and Azilect for Parkinson’s disease, respiratory products and women’s health products. Teva’s active pharmaceutical ingredient (API) business provides vertical integration to Teva’s own pharmaceutical production. The Company’s global operations are conducted in North America, Europe, Latin America, Asia and Israel. Teva has operations in more than 60 countries, including 38 finished dosage pharmaceutical manufacturing sites in 17 countries, 15 generic research and development (R&D) centers operating mostly within certain manufacturing sites and 21 API manufacturing sites around the world. During the year ended December 31, 2009, Teva generated approximately 60% of its sales in North America, 25% in Europe and 15% in other regions (primarily Latin America, including Mexico, Israel and Central and Eastern Europe).

Generic Products Teva’s principal United States subsidiary, Teva Pharmaceuticals USA, Inc. (Teva USA), is a generic drug company in the United States. Teva USA markets over 400 generic products in more than 1,300 dosage strengths and packaging sizes. During the year ended December 31, 2009, Teva launched 19 generic versions of the branded products in the United States. As of December 31, 2009, the Company also received, in addition to 27 generic drug approvals, 10 tentative approvals.

Innovative Products Copaxone (glatiramer acetate, or GA), is the Company’s product and first innovative drug, is the multiple sclerosis (MS) therapy in the United States and globally and is approved in 52 countries worldwide, including the United States, Canada, Mexico, Australia, Israel, and all European countries. Copaxone the only, non-interferon immunomodulator approved for the treatment of relapsing-remitting multiple sclerosis. Azilect (rasagiline tablets), indicated for the treatment of Parkinson’s disease both as initial monotherapy in the early stage of the disease and as an adjunct to levodopa in moderate to advanced stages of the disease. Azilect offers a combination of beneficial clinical effect, seen in the entire spectrum of the disease, once-daily dosing, lack of need for titration and high tolerability. This unique combination allows Azilect to address significant unmet needs in the treatment of Parkinson’s disease.

Respiratory Products The Company delivers a range of respiratory products for asthma, chronic obstructive pulmonary disease (COPD) and allergic rhinitis. The Company’s principal branded respiratory products in the Untied States include ProAir (albuterol HFA), a short-acting beta-agonist for treatment of bronchial spasms linked to asthma (COPD) and exercise- induced bronchospasm, and Qvar (beclomethasone diproprionate HFA), an inhaled corticosteroid for long-term control of chronic bronchial asthma. These products are marketed directly to physicians, pharmacies, hospitals, managed healthcare organizations and government agencies. In Europe, the Company’s principal markets for respiratory products are the United Kingdom, France, the Netherlands and Germany.

Women’s Health The Company’s women’s health unit manufactures and markets pharmaceutical products in the United States and Canada. The Company’s product development activities are focused primarily on its portfolio of women’s healthcare products, which includes oral contraceptives, intrauterine contraception, hormone therapy treatments for menopause/perimenopause and therapies for use in infertility and urinary incontinence. As of December 31, 2009, the Company introduced two products: LoSeasonique, an extended regimen oral contraceptive with low-dose estrogen, and Plan B One-Step, a single tablet dose for emergency contraception.

Biopharmaceuticals and Biogenerics The Company’s primary biopharmaceutical products are granulocyte colony-stimulating factor (GCSF) and Tev- Tropin. GCSF stimulates the production of white blood cells and is primarily used to reduce the risk of infections in oncology patients receiving chemotherapy. Tev-Tropin is a human growth hormone indicated for the treatment of children who have growth failure due to growth hormone deficiency. The Company is also developing additional biogeneric products, which include Neugranin, a long-acting Granulocyte Colony-Stimulating Factor (albumin-fused GCSF).

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COMPANY PROFILE

United Technologies Corp. (UTX) Web Site: http://www.utc.com

United Technologies Corporation (UTC), incorporated in 1934, provides high technology products and services to the building systems and aerospace industries. The Company operates in six segments: Otis, Carrier, UTC Fire & Security, Pratt & Whitney, Hamilton Sundstrand and Sikorsky. Otis offers elevators, escalators, moving walkways and services. Carrier offers heating, ventilating, air conditioning and refrigeration systems, and equipment, and food service equipment. UTC Fire & Security offers fire and special hazard detection and suppression systems and firefighting equipment, security, monitoring and rapid response systems and service and security personnel services. Pratt & Whitney offers commercial, military, business jet and general aviation aircraft engines, parts and services, industrial gas turbines, geothermal power systems and space propulsion. Hamilton Sundstrand offers aerospace products and aftermarket services. Sikorsky offers military and commercial helicopters, aftermarket helicopter, and aircraft parts and services.

Otis Otis is engaged in elevator and escalator manufacturing, installation and services. It designs, manufactures, sells and installs a range of passenger and freight elevators for low, medium and high-speed applications, as well as a line of escalators and moving walkways. Otis also provides modernization products to upgrade elevators and escalators, as well as maintenance services for products and those of other manufacturers. Otis serves customers in the commercial and residential property industries worldwide. Otis sells directly to the end customer and, to a limited extent, through sales representatives and distributors. Revenues generated by Otis' international operations were 80% of total Otis segment revenues, during 2009.

Carrier Carrier is a manufacturer and distributor of HVAC and refrigeration solutions, including controls for residential, commercial, industrial and transportation applications. Carrier also provides installation, retrofit and aftermarket services for the products it sells. Carrier also integrated into its operations UTC Power’s micro-turbine-based combined cooling, heating and power systems business. Carrier’s products and services are sold under Carrier and other brand names to building contractors and owners, homeowners, transportation companies, retail stores and food service companies. Carrier sells directly to the end customers, and through manufacturers’ representatives, distributors, wholesalers, dealers and retail outlets. Revenues generated by Carrier’s international operations, including United States export sales, were 55% of total Carrier segment revenues, during 2009.

UTC Fire & Security UTC F&S provides security and fire safety products and services. UTC Fire & Security provides electronic security products, such as intruder alarms, access control systems and video surveillance systems and designs and manufactures a range of fire safety products, including specialty hazard detection and fixed suppression products, portable fire extinguishers and other firefighting equipment. Services provided to the electronic security and fire safety industries include systems integration, installation, maintenance and inspection services. UTC Fire & Security also provides monitoring, response and security personnel services, including cash-in-transit security, to complement its electronic security and fire safety businesses. UTC Fire & Security products and services are used by governments, financial institutions, architects, building owners and developers, security and fire consultants and other end users requiring a high level of security and fire protection for their businesses and residences. UTC Fire & Security provides its products and services under Chubb, Kidde and other brand names and sells directly to the customer, as well as through manufacturer representatives, distributors, dealers and United States retail distribution. Revenues generated by UTC Fire & Security’s international operations were 82% of total UTC Fire & Security revenues during 2009.

Pratt & Whitney Pratt & Whitney is a supplier of aircraft engines for the commercial, military, business jet and general aviation markets. Pratt & Whitney’s Global Services provide maintenance, repair and overhaul services, including the sale of spare parts, as well as fleet management services. Pratt & Whitney produces families of engines for wide and narrow body aircraft in the commercial and military markets. Pratt & Whitney also sells engines for industrial applications. Pratt & Whitney Canada (P&WC) is engaged in the production of engines powering business, regional, light jet, utility and military aircraft and helicopters. Pratt & Whitney Rocketdyne (PWR) is engaged in the design, development and manufacture of aerospace propulsion systems for military and commercial applications, including the United States space shuttle program. In addition, Pratt & Whitney has interests in other engine programs, including a 33% interest in the International Aero Engines (IAE) collaboration, which sells and supports V2500 engines for the Airbus A320 family

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COMPANY PROFILE of aircraft. Pratt & Whitney also has a 50% interest in the Engine Alliance (EA), a joint venture with GE Aviation, which markets and manufactures the GP7000 engine for the Airbus A380 aircraft. In terms of engine development programs, Pratt & Whitney is under contract with the United States Air Force to develop the F135 engine, a derivative of Pratt & Whitney’s F119 engine, to power the single-engine F-35 Lightning II aircraft being developed by Lockheed Martin. Pratt & Whitney’s products are sold principally to aircraft manufacturers, airlines and other aircraft operators, aircraft leasing companies, space launch vehicle providers and the United States and foreign governments. The majority of sales are made directly to the customer and, to a limited extent, through independent distributors or foreign sales representatives. Sales to Airbus and Boeing were 11% of total Pratt & Whitney revenues in 2009. Sales to the United States government were 31% of total Pratt & Whitney revenues in 2009. Revenues from Pratt & Whitney’s international operations, including the United States exports, were 51% of total Pratt & Whitney segment revenues during 2009.

Hamilton Sundstrand Hamilton Sundstrand supplies aerospace and industrial products and aftermarket services for diversified industries worldwide. Hamilton Sundstrand’s aerospace products, such as power generation management and distribution systems, flight systems, engine control systems, environmental control systems, fire protection and detection systems, auxiliary power units and propeller systems, serve commercial, military, regional, business and general aviation, as well as space and undersea applications. Aftermarket services include spare parts, overhaul and repair, engineering and technical support and fleet maintenance programs. Hamilton Sundstrand sells aerospace products to airframe manufacturers, the United States and foreign governments, aircraft operators and independent distributors. Sales to the United States government were 26% of total Hamilton Sundstrand segment revenues in 2009.

Hamilton Sundstrand is engaged in development programs for the Boeing 787 aircraft, the Bombardier CSeries aircraft, the new Mitsubishi Regional Jet, the Airbus A350 aircraft, the Lockheed Martin F-35 Lightning II military aircraft and the Airbus A400M military aircraft. Hamilton Sundstrand is also the prime contractor for the United States National Aeronautics and Space Administration’s (NASA) space suit/life support system and produces environmental monitoring and control, life support, mechanical systems and thermal control systems for the United States space shuttle program, the international space station and the Orion crew exploration vehicle. Hamilton Sundstrand’s principal industrial products, such as air compressors, metering pumps and fluid handling equipment, serve industries involved with raw material processing, bulk material handling, construction, hydrocarbon and chemical processing, and water and wastewater treatment. These products are sold under the Sullair, Sundyne, Milton Roy and other brand names directly to end users, through manufacturer representatives and distributors. Revenues generated by Hamilton Sundstrand’s international operations, including the United States export sales, were 50% of total Hamilton Sundstrand segment revenues during 2009.

Sikorsky Sikorsky is a manufacturer military and commercial helicopters and also provides aftermarket helicopter and aircraft parts and services. Its production programs at Sikorsky include the UH-60M Black Hawk medium-transport helicopters and HH-60M Medevac helicopters for the U.S. and foreign governments, the S-70 Black Hawk for foreign governments, the MH-60S and MH-60R helicopters for the U.S. Navy, the International Naval Hawk for multiple naval missions, and the S-76 and S-92 helicopters for commercial operations. Sikorsky’s aftermarket business includes spare parts sales, overhaul and repair services, maintenance contracts, and logistics support programs for helicopters and other aircraft. Sales are made directly by Sikorsky and also by its subsidiaries and joint ventures. Sikorsky is also engaged in logistics support programs and partnering with its government and commercial customers to manage and provide maintenance and repair services. Revenues generated by Sikorsky’s international operations, including United States export sales, were 33% of total Sikorsky revenues during 2009.

Other UTC Power is engaged in the application of fuel cell technology to stationary and transportation applications. UTC Power’s automotive and bus transportation fuel cell power plants are based on proton exchange membrane (PEM) technology, including its PureMotion 120 power plant, which is currently used in revenue service in transit bus applications in Connecticut, California and Europe. UTC Power is developing PEM fuel cells for submarine applications. In addition, UTC Power is the maker of alkaline-based fuel cells used to provide electricity and drinking water to the United States space shuttle.

The Company competes with GE Aviation, Rolls Royce, Honeywell and Turbomeca.

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COMPANY PROFILE

Vanguard GNMA Fund (VFIIX and VFIJX) Web Site: http://www.vanguard.com/

The Vanguard GNMA Fund seeks a moderate and sustainable level of current income by investing at least 80% of its assets in Government National Mortgage Association (GNMA) pass-through certificates, which are fixed income securities representing part ownership in a pool of mortgage loans backed by the U.S. government.

The investment advisor, Wellington Management Company, LLP, seeks to maintain a high yield and predictable income stream by selecting securities with strong relative value among the broad range of available securities, and by appropriately positioning the fund in changing economic environments.

Founded in 1928, Wellington Management Company, LLP, Boston, Massachusetts, is among the nation.s oldest and most respected institutional investment managers. The firm has advised Vanguard GNMA Fund since 1980. Michael F. Garrett, Senior Vice President, is portfolio manager of the Fund. He advised the Fund from 2006 – 2009, took a leave to assist the Federal Reserve Bank of New York with its first asset purchase program, and returned to the Fund at the beginning of 2010. He has worked in investment management since 1991. Garrett earned a B.A. from Yale University.

The Fund is broadly diversified across the universe of GNMA mortgage-backed securities. The advisor seeks to mitigate prepayment risk by moderately adjusting the coupon or maturity structure in anticipation of interest rate changes. Historically the Fund’s volatility has been lower relative to that of the Barclays Capital U.S. Aggregate Bond Index due to the fund’s short- to intermediate-term average duration. The Fund’s investments in U.S. government agency securities do not prevent fluctuations in share price.

Portfolio characteristics as of November 30, 2010 are shown below:

Average Duration: 1.9 years Average Maturity: 1.9 years Average Quality: AAA Average Coupon: 5.1%

Allocations by coupon as of November 30, 2010 are shown below (% of Fund):

0.0% to 4.0% 13.7% 4.0% to 6.0% 75.2% 6.0% to 8.0% 11.1% Total 100.0%

As of September 30, 2010, the Fund was rated 5 stars out of a total possible 5 stars by Morningstar, Inc. and the Fund’s 5-year average annual performance placed it in the top quartile of the Morningstar Intermediate Government category.

Sources: Morningstar, Inc. and The Vanguard Group, Inc.

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COMPANY PROFILE

Verizon Communications (VZ) Web Site: http://www.verizon.com/

Verizon Communications Inc. (Verizon), incorporated in 1983, is a provider of communications services. Verizon operates in two segments: Domestic Wireless and Wireline. Its Domestic Wireless’s products and services include wireless voice and data services and equipment sales across the United States. Wireline’s communications products and services include voice, Internet access, broadband video and data, next generation Internet protocol (IP) network services, network access, long distance and other services. It provides these products and services to consumers in the United States, as well as to carriers, businesses and government customers both in the United States and in 150 other countries worldwide. On January 9, 2009, the Company acquired Alltel Corporation (Alltel). In July 2010, Frontier Communications Corp acquired New Communications Holdings Inc., Verizon Communications Inc.'s local wireline operations in 14 states.

Domestic Wireless Verizon Wireless provides wireless voice and data services. As of December 31, 2009, the Company’s network covered a population of approximately 290 million and provided service to its customer base of nearly 91.2 million. Its primary network technology platform is code division multiple access (CDMA), based on spread-spectrum digital radio technology. The Company also provides global system for mobile communications (GSM) service. It offers a variety of postpaid plans for voice services. As of December 31, 2009, approximately 90% of its customers received its voice services on a retail postpaid basis. It offers Nationwide Calling Plans, Nationwide Family SharePlans and Nationwide Small Business SharePlans. In 2009, it launched Friends & Family, which is available to its consumer and business customers on many of its Nationwide Calling Plans.

The Company offer its Verizon Wireless Prepaid service that enables individuals to obtain wireless voice services without a long-term contract or credit verification by paying in advance. All of its Verizon Wireless Prepaid plans include Mobile to Mobile Calling. The Company offers an array of data services and applications, such as text and picture messaging services, mobile broadband, consumer-focused multimedia offerings, business-focused offerings, location-based services, telematics services and telemetry services. Its Verizon Wireless Prepaid customers can also access certain of its key data services and offerings, such as mobile Web services, ringtones and ringback tones, V CAST and VZ Navigator.

The Company provides its retail customers access via their phones to a range of music, video, games and other applications, as well as to the Internet. Its VZAccess service provides its business customers with solutions for accessing the Internet and their corporate intranets. Telematics involves the integration of wireless services into private and commercial vehicles. Its device line-up includes an array of third generation (3G) smartphones. In addition, in November 2009, the Company began offering two - 3G smartphones in the United States that operate on Google’s Android mobile operating platform - the Motorola Droid and the HTC Droid Eris.

Wireline The Wireline segment provides customers with communications products and services that include voice, Internet access, broadband video and data, next generation IP network services, network access, long distance and other services. The Company provides these products and services to consumers in the United States, as well as to carriers, businesses and government customers both in the United States and in 150 other countries worldwide. Its Mass Markets operations provide local exchange (basic service and end user access), long distance (including regional toll), broadband services (including high-speed Internet and fiber optic services (FiOS) Internet) and FiOS TV services to residential and small business subscribers. In partnership with DIRECTV, Verizon also offers satellite television service to enable double- and triple-play offers in non-FiOS markets.

Global Enterprise offers voice, data and Internet communications services to medium and large business customers, multi-national corporations, and state and federal government customers. The Company offers communications and information technology (IT) solutions. Global Wholesale offers switched access and special access services primarily to long distance and other carriers who use its facilities to provide services to their customers. Switched access revenues are generated from fixed and usage-based charges paid by carriers for access to its local network, interexchange wholesale traffic sold in the United States, as well as internationally destined traffic that originates in the United States. Other services include services, such as local exchange and long distance services from mass market customers, operator services, pay phone, card services and supply sales, as well as dial around services, including 10-10-987, 10-10-220, 1-800-COLLECT and prepaid cards.

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COMPANY PROFILE

The Company offers FiOS TV and Verizon’s fiber-optic video service and market a variety of DIRECTV packages that are delivered over satellite systems. FiOS TV provides access to more than 565 all-digital channels and more than 125 high-definition channels and is available to approximately 11.7 million homes across 14 states: New York, New Jersey, California, Delaware, Texas, Florida, Maryland, Pennsylvania, Indiana, Massachusetts, Virginia, Rhode Island, Oregon and Washington. It offers Internet and FiOS broadband data products with varying downstream and upstream processing speeds. Its data packages include technical support, anti-virus and spam protection and e-mail online storage. It offers packages that include local exchange, regional, long distance, voice over Internet protocol (VoIP), wire maintenance and voice messaging services. The Company offers regional access, VoIP services and long distance services both domestically and internationally. Its data services include private line special access, fast packet, optical, Ethernet and IP services. It offers an array of local dial tone and broadband services.

Verizon competes with AT&T, Sprint Nextel, T-Mobile, U.S. Cellular, MetroPCS and Leap Wireless.

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COMPANY PROFILE

Walgreen Company (WAG) Web Site: http://www.walgreens.com/

Walgreen Co. (Walgreen), incorporated in 1909, together with its subsidiaries, operates a drugstore chain in the United States. The Company provides its customers with multichannel access to consumer goods and services, and pharmacy, health and wellness services in communities across America. Walgreen offers its products and services through drugstores, as well as through mail, by telephone, and via the Internet. The Company sells prescription and non-prescription drugs, as well as general merchandise, including household products, convenience foods, personal care, beauty care, candy, photofinishing and seasonal items. Its pharmacy services includes retail, specialty, infusion, medical facility, long- term care and mail service, along with pharmacy benefit solutions and respiratory services. In January 2010, the Company announced that it has completed the acquisition of the assets of 12 Eaton Apothecary pharmacies in the Boston area from D.A.W., Inc., a subsidiary of Nyer Medical Group, Inc.

Walgreen’s Take Care Health Systems subsidiary is a manager of worksite health centers and in-store convenient care clinics, with more than 700 locations throughout the United States. As of August 31, 2010, Walgreens operated 8,046 locations in 50 states, the District of Columbia, Puerto Rico and Guam. During the fiscal year ended August 31, 2010, the Company opened or acquired 670 locations for a net increase of 550 locations after relocations and closings. Total locations do not include 352 convenient care clinics operated by Take Care Health Systems, Inc. within its drugstores.

The Company owns approximately 20% of the retail drugstores open at August 31, 2010. The Company's retail store operations are supported by 16 major distribution centers with a total of approximately 14 million square feet of space in all distribution centers, of which nine million square feet is owned. It operates 25 principal office facilities containing approximately three million square feet of which approximately two million square feet is owned and the remainder is leased. The Company operates two mail service facilities containing approximately 237 thousand square feet of which approximately 133 thousand square feet is owned and the remainder is leased. The Company also owns 37 strip shopping malls containing approximately two million square feet of which approximately 776 thousand square feet is leased to others.

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COMPANY PROFILE

Wal-Mart Stores, Inc. (WMT) Web Site: http://www.walmartstores.com/

Wal-Mart Stores, Inc. (Walmart), incorporated in October 1969, operates retail stores. The Company operates in three business segments: Walmart U.S., International and Sam’s Club. During the fiscal year ended January 31, 2010 (fiscal 2010), The Walmart U.S. segment accounted for 63.8% of its net sales, and operated retail stores in different formats in the United States, as well as Walmart’s online retail operations, walmart.com. The International segment consists of retail operations in 14 countries and Puerto Rico. During fiscal 2010, the segment generated 24.7% of the Company’s net sales. The International segment includes different formats of retail stores and restaurants, including discount stores, supercenters and Sam’s Clubs that operate outside the United States. The Sam’s Club segment consists of membership warehouse clubs in the United States and the segment’s online retail operations, samsclub.com. During fiscal 2010, Sam’s Club accounted for 11.5% of its net sales. As of the January 31, 2010, the Company operated 803 discount stores, 2,747 supercenters, 158 Neighborhood Markets and 596 Sam’s Clubs in the United States.

Walmart U.S. Segment The Walmart U.S. segment operates retail stores in all 50 states, with supercenters in 48 states, discount stores in 47 states and Neighborhood Markets in 16 states. Walmart U.S. does business in six strategic merchandise units across several store formats, including discount stores, supercenters and Neighborhood Markets. Its grocery merchandise consists of a line of grocery items, including meat, produce, deli, bakery, dairy, frozen foods, floral and dry grocery, as well as consumables, such as health and beauty aids, household chemicals, paper goods and pet supplies. Its entertainment merchandise contains electronics, toys, cameras and supplies, photo processing services, cellular phones, cellular service plan contracts and prepaid service. The Company’s hardlines merchandise consists of fabrics and crafts, stationery and books, automotive accessories, hardware and paint, horticulture and accessories, sporting goods, outdoor entertaining and seasonal merchandise. Its apparel merchandise includes apparel for women, girls, men, boys and infants, shoes and jewelry. Its health and wellness includes pharmacy and optical services. Its home includes home furnishings, housewares and small appliances.

The Walmart U.S. segment offers financial services and products, including money orders, wire transfers, check cashing and bill payment. It also markets lines of merchandise under its private-label store brands, including Great Value, Equate, Ol’ Roy, Spring Valley, Parent’s Choice, Marketside, Oak Leaf, Prima Della, Everstart, Faded Glory, No Boundaries, George, Athletic Works, Secret Treasures, Puritan, Hometrends, Mainstays, Ozark Trail, White Stag and Canopy. The Company also markets lines of merchandise under licensed brands, some of which include General Electric, Black & Decker, Rival, Disney, Better Homes & Gardens, OP, Starter, Danskin Now and Just My Size.

International Segment The International segment consists of the Company’s wholly owned subsidiaries operating in Argentina, Brazil, Canada, Japan, Puerto Rico and the United Kingdom; its majority-owned subsidiaries operating in five countries in Central America, and in Chile and Mexico; its joint ventures in India and China, and its other controlled subsidiaries in China.

Sam’s Club Segment The Sam’s Club, a membership club warehouse, operates Sam’s Clubs in 48 states. Sam’s Club also provides its members with an assortment of merchandise and services online at www.samsclub.com. Sam’s Club offers brand name merchandise, including hardgoods, some softgoods and private-label items, including Member’s Mark, Bakers & Chefs and Sam’s Club brands in five categories, such as food and beverages; health and wellness; technology, office and entertainment; home and apparel, and tobacco/candy and fuel/auto, within the warehouse club format.

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COMPANY PROFILE

WGL Holdings, Inc. (WGL) Web Site: http://www.wglholdings.com/

WGL Holdings, Inc. (WGL Holdings) is a holding company that through its subsidiaries, sells and delivers natural gas, and provides a range of energy-related products and services to customers in the District of Columbia and the surrounding metropolitan areas in Maryland and Virginia. The Company operates in three segments: regulated utility segment, retail energy-marketing segment and design-build energy systems segment. The Company’s wholly owned subsidiaries include Washington Gas Light Company (Washington Gas), Washington Gas Resources Corporation (Washington Gas Resources), Hampshire Gas Company (Hampshire) and Crab Run Gas Company (Crab Run). Washington Gas is a regulated natural gas utility. Washington Gas Resources owns four subsidiaries include Washington Gas Energy Services, Inc. (WGEServices), Washington Gas Energy Systems, Inc. (WGESystems), Capitol Energy Ventures Corp. (CEV) and WGSW, Inc.

Regulated Utility Segment The Company’s regulated utility segment consists of Washington Gas and Hampshire. Washington Gas the core of regulated utility segment delivers natural gas to retail customers. Washington Gas also sells natural gas to customers who have not elected to purchase natural gas from un-regulated third-party marketers. Washington Gas recovers the cost of the natural gas to serve firm customers through gas cost recovery mechanisms. Hampshire operates and owns full and partial interests in underground natural gas storage facilities, including pipeline delivery facilities located in and around Hampshire County, West Virginia. Washington Gas purchases all of the storage services of Hampshire and includes the cost of these services in the bills sent to its customers.

As of September 30, 2010, Washington Gas had 1.074 million active customer meters resulting in 1,758.4 million therms delivered. Washington Gas is responsible for acquiring sufficient natural gas supplies, interstate pipeline capacity and storage capacity to meet customer demand. Washington Gas obtains natural gas supplies that originate from multiple regions throughout the United States and Canada, as well as natural gas in the form of vaporized liquefied natural gas (LNG) through the Cove Point LNG terminal owned by Dominion Cove Point LNG, LP and Dominion Transmission, Inc. (collectively Dominion). As of September 30, 2010, Washington Gas had service agreements with four pipeline companies that provided firm transportation and/or storage services directly to Washington Gas’s city gate.

Retail Energy-Marketing Segment The retail energy-marketing segment consists of the operations of WGEServices, which sells the natural gas and electric commodity directly to residential, commercial and industrial customers. These commodities are delivered to retail customers through the distribution systems owned by regulated utilities, such as Washington Gas or other unaffiliated natural gas or electric utilities. Washington Gas delivers the natural gas sold by WGEServices, and unaffiliated electric utilities deliver all of the electricity sold. In addition, WGEServices bills its customers through the billing services of the regulated utilities that deliver its commodities, as well as directly through its own billing capabilities. WGEServices is also expanding its renewable energy and energy conservation product and service offerings. During the fiscal year ended September 30, 2010 (fiscal 2010), WGEServices contracted for and completed the construction of two solar photovoltaic (Solar PV) generating systems, which include ownership of the operational assets. At September 30, 2010, WGEServices served approximately 161,000 residential, commercial and industrial natural gas customers and approximately 155,000 residential, commercial and industrial electricity customers located in Maryland, Virginia, Delaware, Pennsylvania and the District of Columbia.

Design-Build Energy Systems Segment The design-build energy systems segment, which consists of the operations of WGESystems, provides design-build energy solutions to governmental and commercial clients. WGESystems focuses on upgrading the mechanical, electrical, water and energy-related systems of large governmental and commercial facilities by implementing both traditional, as well as alternative energy technologies, in the District of Columbia, Maryland and Virginia.

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COMPANY PROFILE

Xcel Energy, Inc. (XEL) Web Site: http://www.xcelenergy.com/

Xcel Energy Inc. (Xcel Energy), incorporated in 1909, is a holding company, with subsidiaries engaged primarily in the utility business. During the year ended December 31, 2009, the Company’s operations included the activity of four wholly owned utility subsidiaries that serve electric and natural gas customers in eight states. These utility subsidiaries are Northern States Power Company, Minnesota (NSP-Minnesota), Northern States Power Company, Wisconsin (NSP-Wisconsin), Public Service Company of Colorado (PSCo) and Southwestern Public Service Co., New Mexico (SPS). These utilities serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. Along with WYCO, a joint venture formed with Colorado Interstate Gas Company (CIG) to develop and lease natural gas pipeline, storage, and compression facilities, and WGI, an interstate natural gas pipeline company, these companies comprise the regulated utility operations.

Northern States Power Company, Minnesota NSP-Minnesota is an operating utility engaged in the generation, purchase, transmission, distribution and sale of electricity in Minnesota, North Dakota and South Dakota. The wholesale customers served by NSP-Minnesota consisted of approximately 10% of its total sales during 2009. NSP-Minnesota also purchases, transports, distributes and sells natural gas to retail customers and transports customer-owned natural gas in Minnesota and North Dakota. NSP-Minnesota provides electric utility service to approximately 1.4 million customers and natural gas utility service to approximately 0.5 million customers. Approximately 89% of NSP-Minnesota’s retail electric operating revenues were derived from operations in Minnesota during 2009. The electric production and transmission system of NSP- Minnesota is managed as an integrated system with that of NSP-Wisconsin, jointly referred to as the NSP System.

Northern States Power Company, Wisconsin NSP-Wisconsin is an operating utility engaged in the generation, transmission, distribution and sale of electricity in portions of northwestern Wisconsin and in the western portion of the Upper Peninsula of Michigan. The wholesale customers served by NSP-Wisconsin comprised approximately 8% of its total sales during 2009. NSP-Wisconsin also purchases, transports, distributes and sells natural gas to retail customers and transports customer-owned natural gas in the same service territory. NSP-Wisconsin provides electric utility service to approximately 249,000 customers and natural gas utility service to approximately 105,000 customers. Approximately 98% of NSP-Wisconsin’s retail electric operating revenues were derived from operations in Wisconsin during 2009.

Public Service Company of Colorado PSCo is an operating utility engaged primarily in the generation, purchase, transmission, distribution and sale of electricity in Colorado. The wholesale customers served by PSCo comprised approximately 20% of its total sales during 2009. PSCo also purchases, transports, distributes and sells natural gas to retail customers and transports customer-owned natural gas. PSCo provides electric utility service to approximately 1.4 million customers and natural gas utility service to approximately 1.3 million customers. All of PSCo’s retail electric operating revenues were derived from operations in Colorado during 2009. PSCo’s direct subsidiaries include 1480 Welton, Inc. and United Water Company, both of which own certain real estate interests for PSCo, and Green and Clear Lakes Company, which owns water rights. PSCo also owns PSRI, which held certain former employees' life insurance policies.

Southwestern Public Service Co., New Mexico SPS is an operating utility engaged primarily in the generation, purchase, transmission, distribution and sale of electricity in portions of Texas and New Mexico. The wholesale customers served by SPS comprised approximately 36% of its total sales during 2009. SPS provides electric utility service to approximately 396,000 retail customers in Texas and New Mexico. Approximately 74% of SPS’ retail electric operating revenues were derived from operations in Texas during 2009.

Other Subsidiaries WGI is a small interstate natural gas pipeline company engaged in transporting natural gas from the PSCo system near Chalk Bluffs, Colo., to the Cheyenne system near Cheyenne, Wyo. Xcel Energy has a 50% ownership interest in WYCO. WYCO’s High Plains gas pipeline began operations during the year ended December 31, 2008 and its Totem gas storage facilities began operations during the year ended December 31, 2009. Xcel Energy Services Inc. is the service company for the Xcel Energy holding company. Xcel Energy’s nonregulated subsidiary is Eloigne, which invests in rental housing projects that qualify for low-income housing tax credits.

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