Group Group Composite Composite Group Composite CPI Level Year Index Price Dividends Earnings (Dec 31) Real Grp Composite Index Price Real Grp Composite Dividends Real Grp Composite Earnings (Dec 31) Return (Annualized) Group 3-Mo. T-Bill Composite Annual Return (Jan-Dec) (Jan-Dec) (Dec 31) (Jan-Dec) (Jan-Dec) Real Grp Composite Annual Return Real Grp Real Grp Real Grp Real Smoothed P/Avg10(E) (Nominal) 1-Year 5-Year 10-Year Forward- Forward- Forward- Looking Looking Looking Return Return Return Year 1975 48.43 2.21 5.57 55.50 200.35 9.13 23.05 5.78% #REF! #REF! #REF! 6.99% 3.13% 6.54% 1975 1976 51.91 2.43 6.94 58.20 204.77 9.59 27.37 4.97% 12.19% 6.99% 8.88 -13.46% -1.17% 8.66% 1976 1977 45.13 2.80 7.62 62.10 166.84 10.36 28.18 5.27% -7.66% -13.46% 6.62 7.53% 6.41% 9.63% 1977 1978 49.86 3.04 8.63 67.70 169.08 10.32 29.27 7.19% 17.22% 7.53% 6.45 4.15% 8.19% 10.23% 1978 1979 55.44 3.39 10.40 76.70 165.94 10.15 31.14 10.07% 17.99% 4.15% 6.15 12.52% 8.25% 11.64% 1979 1980 66.49 3.70 10.37 86.30 176.88 9.83 27.60 11.43% 26.60% 12.52% 6.36 -13.53% 10.05% 9.68% 1980 1981 58.64 3.98 10.75 94.00 143.23 9.72 26.26 11.03% -5.82% -13.53% 5.16 25.25% 19.18% 11.10% 1981 1982 72.14 4.12 8.85 97.60 169.70 9.70 20.81 10.61% 30.01% 25.25% 6.16 16.80% 12.93% 12.12% 1982 1983 83.20 4.25 9.82 101.30 188.57 9.61 22.26 8.61% 21.23% 16.80% 7.06 1.11% 12.30% 11.36% 1983 1984 85.81 4.52 11.65 105.30 187.09 9.85 25.10 9.52% 8.57% 1.11% 7.14 22.20% 15.13% 10.77% 1984 1985 104.10 4.74 10.23 109.30 218.67 9.96 21.48 7.48% 26.84% 22.20% 8.37 30.39% 9.31% 11.65% 1985 1986 132.26 4.97 10.14 110.50 274.80 10.32 21.06 5.98% 31.82% 30.39% 10.58 -5.50% 8.97% 11.05% 1986 1987 125.24 5.29 12.25 115.40 249.18 10.52 24.37 5.78% -1.31% -5.50% 9.83 13.59% 11.31% 14.29% 1987 1988 142.71 5.84 16.63 120.50 271.91 11.12 31.69 6.67% 18.61% 13.59% 10.89 18.27% 10.43% 15.81% 1988 1989 169.99 6.63 16.01 126.10 309.51 12.07 29.15 8.11% 23.76% 18.27% 12.28 -5.74% 6.58% 15.25% 1989 1990 162.75 7.26 14.94 133.80 279.28 12.46 25.63 7.49% 0.01% -5.74% 11.17 28.39% 14.05% 14.93% 1990 1991 208.04 7.32 11.14 137.90 346.38 12.19 18.54 5.38% 32.33% 28.39% 13.96 5.12% 13.17% 10.38% 1991 1992 217.62 7.43 13.36 141.90 352.11 12.02 21.62 3.43% 8.17% 5.12% 14.65 9.14% 17.35% 7.19% 1992 1993 236.50 7.55 15.32 145.80 372.42 11.89 24.12 3.00% 12.14% 9.14% 15.44 -0.94% 21.45% 8.27% 1993 1994 232.63 7.91 21.42 149.70 356.79 12.13 32.85 4.25% 1.71% -0.94% 14.68 32.26% 24.63% 9.37% 1994 1995 307.21 8.27 23.77 153.50 459.52 12.38 35.56 5.49% 35.62% 32.26% 18.34 23.51% 15.81% 6.76% 1995 1996 383.11 8.94 27.11 158.60 554.62 12.94 39.25 5.01% 27.62% 23.51% 20.96 26.01% 7.66% 5.70% 1996 1997 481.68 9.30 27.80 161.30 685.64 13.24 39.58 5.06% 28.16% 26.01% 24.25 29.56% -2.09% 3.55% 1997 1998 624.39 9.72 26.39 163.90 874.68 13.62 36.97 4.78% 31.64% 29.56% 29.35 12.74% -3.47% -3.87% 1998 1999 712.80 10.01 33.72 168.30 972.12 13.66 16.00 1.61% 15.76% 12.71% 32.06 -8.37% -1.02% -2.79% 1999 2000 665.47 9.76 35.00 171.00 878.11 12.88 16.18 5.82% -5.27% -8.37% 27.13 -11.21% -1.57% -0.76% 2000 2001 570.11 9.44 17.28 176.70 740.78 12.27 22.16 3.39% -12.91% -11.21% 21.71 -21.60% 3.78% 0.75% 2001 2002 447.92 9.64 19.31 180.90 568.51 12.21 24.51 1.60% -19.71% -21.60% 16.50 20.69% 9.52% 1.72% 2002 2003 540.32 10.43 34.12 184.30 673.13 13.00 42.50 1.01% 22.96% 20.69% 19.37 9.56% -4.27% 2003 2004 599.61 11.66 40.99 190.30 723.44 14.07 49.45 1.37% 13.13% 9.56% 19.77 3.92% -1.54% 2004 2005 631.04 13.33 48.95 196.80 736.21 15.55 57.11 3.15% 7.47% 3.92% 19.25 11.76% 0.05% 2005 2006 708.21 14.93 57.06 201.80 805.78 16.98 64.92 4.73% 14.60% 11.76% 19.94 2.60% -2.19% 2006 2007 739.61 16.64 46.33 210.04 808.51 18.19 50.64 4.35% 6.78% 2.60% 18.82 -38.43% 0.13% 2007 2008 438.78 17.03 18.31 210.23 479.21 18.60 20.00 1.37% -38.37% -38.43% 10.87 26.16% 2008 2009 555.19 13.45 35.68 215.95 590.29 14.30 37.93 0.15% 29.59% 26.16% 13.93 12.58% 2009 2010 620.77 13.64 54.15 219.18 650.28 14.29 56.72 0.14% 14.27% 12.58% 15.64 -0.26% 2010 2011 621.66 15.86 60.87 225.67 632.48 16.13 61.92 0.05% 2.70% -0.26% 14.84 15.40% 2011 2012 711.15 18.75 60.56 229.60 711.15 18.75 60.56 0.09% 17.41% 15.40% 15.27 2012