Year- end 1996 1997 1998 1999 2003 2004 2005 S&P 500 Realized Return 23.3% 24.7% 2000 2001 -17.3% 2002 -24.3% 31.2% 4.4% 7.4% 13] The closest to 30.4% 9.0% -2.0% IBM Realized Return 46.3% 26.7% 86.9% 23.1% 0.2% -3.2% -27.0% 27.9% -5.1% -11.3% 10% average annual return on the S&P 5