Performance of Top International Bond Funds Managed by Banks

+++ "International bond mutual funds, with assets greater than $25 million, ranked by the total return for 1996 (dollar amounts in millions)"

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Rank Fund Name Bank

1 OFFITBANK Emerging Mkts Bond Sel OFFITBANK

2 Sierra Tr Sh-Term Glb Govt A Great Western Financial

3 Compass Capital-Intl Bond Inst PNC Bank Corp

4 Nations Global Govt Income Pr A NationsBank Corporation

5 Benchmark International Bond A Northern Trust Company (The)

6 CoreFund Global Bond Fd Y CoreStates Bank

7 Pegasus International Bond I First Chicago NBD

8 Comstock Partners Strategy O Mellon Bank, N.A.

9 Comstock Partners Strategy A Mellon Bank, N.A.

Bank Proprietary Intl Bond Avg

Non-Bank Intl Bond Fund Averages

CDA/Weisenberger Intl Bond Avg

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Rank Fund Name Investment Objective

1 OFFITBANK Emerging Mkts Bond Sel International Bond

2 Sierra Tr Sh-Term Glb Govt A International Bond

3 Compass Capital-Intl Bond Inst International Bond

4 Nations Global Govt Income Pr A International Bond

5 Benchmark International Bond A International Bond

6 CoreFund Global Bond Fd Y International Bond

7 Pegasus International Bond I International Bond

8 Comstock Partners Strategy O International Bond

9 Comstock Partners Strategy A International Bond

Bank Proprietary Intl Bond Avg

Non-Bank Intl Bond Fund Averages

CDA/Weisenberger Intl Bond Avg

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TOTAL RETURN THROUGH YEAREND, 1996 (%)

Rank Fund Name Fund AssFull Yr.4th Qtr.Latest Latest Latest

9/30/96 1996 19963 Years*5 Years* 10 Years*

1 OFFITBANK E $94.40 23.43 3.6

2 Sierra Tr S 61.6 10.45 3.68 5.9

3 Compass Cap 30.9 10.25 3.67 8.41 9.3

4 Nations Glo 26.8 7.93 3.73

5 Benchmark I 32.3 6.53 2.7

6 CoreFund Gl 33.5 5.61 2.04 3.88

7 Pegasus Int 51.4 5.03 3.12

8 Comstock Pa 183.6 -0.89 -0.47 -0.06 3.37

9 Comstock Pa 49.7 -1.26 -0.65 -0.38

Bank Propri $22.50 6.91 2.92 5.47 8.79 4.9

Non-Bank In$111.30 12.3 4.16 5.97 6.14 8.85

CDA/Weisenberger In 11.75 4 5.9 6.26 8.85 ===

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