It Pays to Be Good                                             Page 2

As a point of reference, Mutual Funds magazine says that the industry average is 1.53%. According to Lipper, Inc., the expense ratio of the average social fund is 2.00%. Some of the new competitors entering the Socially Responsible fund market are certain to drive this average down.

The recently launched Vanguard Calvert Social Index Fund charges a 0.25% expense ratio for retail shares. Its benchmark will avoid alcohol, tobacco, gambling, and nuclear-power businesses, and it will screen companies for qualities like environmentally sound records and workplace policies. TIAA-CREF has also begun the Social Choice Equity fund, which will have a correspondently minuscule 0.27% expense ratio.

The Walden/BBT International Social Index Fund is the first socially screened fund to track the MSCI EAFE index. The fund will follow the performance of that index, but it will screen out alcohol, tobacco, gambling, and firearm businesses, nuclear-power producers, and companies with poor human-rights records. In addition, the fund's management plans to be an activist shareholder, encouraging companies to improve their environmental and employment practices. Walden also has a domestic Social Index Fund.

Socially Responsible Index Fund	Ticker	Exp. Ratio	YTD %	12mo %	3yr ann. %	5yr ann. %	Incpt. Date
Citizens Index Std.	WAIDX	1.58%	-6.21	+13.38	+25.73	+27.28	3/95
Devcap Shared Return	DESRX	1.75%	-3.56	+11.97	+21.41	N/A	10/95
Domini Social Equity	DSEFX	0.98%	-6.04	+9.91	+21.31	+24.15	6/91
Green Century Equity	GCEQX	1.50%	-6.23	+9.40	+20.80	N/A	9/95
Capstone SERV Intern C	CSINX	-	-9.22	+9.76	N/A	N/A	9/98
Capstone SERV Bond C	CSBFX	-	+2.17	+1.95	N/A	N/A	9/98

Returns through 5/31/2000 (Source: Morningstar, Inc.)
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