Report Date: February 28, 2004

Disclaimer: All investment grades, of stocks shown on this"STOCK RESEARCH REPORT", are subject to change without notice. Additionally, the following investment grades, assigned to the referred to companies (stock), were assigned on various dates and are not to be considered current and up-to-date. For more detailed and up-to-date information you can order current "Stock Investing Reports" on any (US) publicly traded company, or seek up-to-date information from other available sources of your choosing. A current, up-to-date, "Stock Investing Reports" may have an investment grades which may differ. This report is provided for informational purposes only. It is provided, primarily, for stock investing ideas for your consideration. The covered companies are per client inquiry. For information on our proprietary stock grading system, please see "Keys To Understanding Your - Stock Investing Reports". 

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Grade A: Beazer Home USA, Inc./ Centex Corporation/ Dean Foods Company/ Doral Financial Corp./ Freddie Mac/ Federal Nat'l. Mortgage Assoc./ Golden West Financial Corp./ K.B. Home/ Lennar Corporation/ Oshkosh Truck Corporation/ Washington Mutual/

Grade B: Abercrombie & Fitch Co./ Apollo Group, Inc./ Applebee's Int'l., Inc./ Auto Zone, Inc./ Bed, Bath & Beyond, Inc./ Anheuser-Busch Co., Inc./ Cardinal Health, Inc./ Colgate-Polmolive Company/ Commerce Bancorp., Inc./ Constellation Brands, Inc./ Concord EFS, Inc./ Cott Corporation/ Dollar Tree Stores, Inc./ EMCORE Group Ltd./ Everest Re Group Ltd./ Family Dollar Stores, Inc./ Fifth Third Bancorp./ First Data Corporation/ Forest Laboratories, Inc./ Home Depot, Inc./ Hot Topic, Inc./ Impac Mortgage Holdings, Inc./ Johnson & Johnson/ Kroger Company/ Kohl's Corporation/ Lowe's Companies, Inc./ SEI Investments/ J.M. Smucker/ Starbucks, Inc./ Stericycle, Inc./ Sterling Bancorp./ Sysco Corporation/ Taro Pharmacuetical Industries, Inc./ Toro Company/ Tractor Supply Company/ United Health Group, Inc./ Universal Health Services, Inc./ United Technologies Corp./ Wells Fargo & Company/ Wellpoint Health Ntwk., Inc./ Wal-Mart Stores, Inc./ Wm. Wrigley, Jr. Company/

Grade C: Adolph Coors Company/ Altria Group, Inc./ Automatic Data Proc., Inc./ Avon Products, Inc./ Coach, Inc./ Danaher Corporation/ Electronic Data Systems Corp./ Fastenal Company/ General Electric Company/ Harrah's Entertainment, Inc./ IDEC Pharmaceuticals Corp./ Int'l. Game Tech./ ITT Educational Services, Inc./ Kraft Foods Inc./ Krispy Kreme Doughnuts/ Medtronic, Inc./ Merck & Company, Inc./ Nokia Corporation/ Polaris Industries, Inc./ Paychex, Inc./ Pfizer Inc./ SLM Corporation/ Smithfield Foods, Inc./ J.M. Smucker Company/ Stryker Corporation/ Walgreens Company/

Grade D: American International Group/ Baxter International, Inc./ Best Buy Company, Inc./ Cisco Systems, Inc./ Dell Computer Corp./ EMC Corporation/ Guidant Corporation/ Hershey Food Corporation/ Ingersoll-Rand Co., Ltd./ Microsoft Corporation/ Minnesota, Mining and Mfg./ Oracle Corporation/ Procter & Gamble/ Southwest Airlines Co., Inc./ Tyco International, Ltd./ United States Tobacco, Inc./

Grade E: Gillette Company/ Int'l. Business Machines/ Intel Corporation/  Staples, Inc./ Xerox Corporation/

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