As Of: January 02, 2002

HAPPY NEW YEAR!

Lennox Financial is pleased to announce another successful year.

    Once again, every account managed by Lennox Financial turned in a positive return for the year 2001 in spite of the fact that the Dow Jones Indexes, the Standard & Poor's 500 Index, and the NASDAQ Composite Index all posted substantial negative returns for the year.

    This is the second year in a row that the major stock indexes have posted negative returns and all the accounts managed by Lennox Financial have turned in positive returns. This substantiates our belief that it is possible to protect assets and make money even while most investors are losing money in falling markets. All investment involves risk, and past performance does not guarantee future results. However, our conservative, common sense approach to investing continues to yield superior results.

    Previous comments continue to represent our current thoughts on the market.