Performance of Top 10 International Equity Funds Managed by Banks and

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International equity mutual funds, with assets of $25 million or more, ranked by the total return in the third quarter.

(Dollar amounts in millions)

part 1 of 3

Rank Fund Name

1 CrestFunds-Special Eq Tr (1)

2 BT Investment-Latin America Eq

3 CrestFunds-Value Tr (1)

4 OFFITBANK Latin American Sel (1)

5 First American-International C

6 Excelsior Pan European Fund

7 Sierra Tr Capital Gr Portfolio B

8 Excelsior Emerging Americas

9 OVB Equity Income A (1)

10 59 Wall Street European Equity

Average for top 10 funds with $25 million or more in assets

Average for all 96 funds with $25 million or more in assets

Average for all 213 bank proprietary international stock funds

Non-Bank Intl Stock Fund Averages

MSCI World

part 2 of 3

Fund AssThird Latest

Rank Fund Name Investment Objective 6/30/97Qtr. Year to Date

1 CrestFunds-SpGlobal Equity $97.10 16.58 32.55

2 BT InvestmentEmerging Market Equi 35.4 9.08 43.35

3 CrestFunds-VaGlobal Equity 560 9.05 27.97

4 OFFITBANK LatNon-US Equity 67.5 8.29 42.5

5 First AmericaNon-US Equity 185.3 7.74 24.81

6 Excelsior PanNon-US Equity 150.1 7.33 23.88

7 Sierra Tr CapGlobal Equity 35.8 7.24 15.83

8 Excelsior EmeNon-US Equity 98 6.95 45.46

9 OVB Equity InGlobal Equity 46.7 6.46 19.91

10 59 Wall StreeNon-US Equity 161.3 6.1 16.99

Average for t 143.7 8.48 29.33 36.51

Average for a 223.5 0.52 14.78 18.71

Average for a 14.9 -0.06 13.18 16.89

Non-Bank Intl Stock Fund Averages 97.4 0.05 13.83

MSCI World 2.96 19.04

part 3 of 3

Latest Latest Latest Latest

Rank Fund Name 1 Year* 3 Years*5 Years*10 Years*

1 CrestFunds-Sp 37.38 21.54 17.86

2 BT Investment 47 3.19

3 CrestFunds-Va 37.01 24.82 17.81

4 OFFITBANK Lat 52.41

5 First America 30.38 10.29

6 Excelsior Pan 34.32 19.78

7 Sierra Tr Cap 19.08

8 Excelsior Eme 53.55 8.83

9 OVB Equity In 28.4

10 59 Wall Stree 25.57 17.41 15.93

Average for t 15.12 17.2

Average for a 9.31 12.93 8.97

Average for a 8.85 12.59 8.97

Non-Bank Intl 17.54 8.57 12.45 8.14

MSCI World 24.63 17.84 16.41 9.55 ===

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