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ACTIF 31/12/02 31/12/03 31/12/04

1. Valeurs en caisse, Bq centrales, Trésor public, 1,281 3,734 582


2. Créances sur les étab. de crédit et assimil 12,323 8,650 20,822
• A vue 12,323 8,650 20,822
• A terme - - -
3. Créances sur la clientèle 3,812,496 4,474,493 4,489,722
• Crédits de trésorerie et à la consommation 3,776,955 4,392,233 4,429,973
• Crédits à l'équipement - - -
• Crédits immobiliers - - -
• Autres crédits 35,541 82,260 59,749
4. Créances acquises par affacturage - - -
5. Titres de transcaction et de placement - - -
6. Autres actifs 40,287 19,392 21,845
7. Titres d'investissement - - -
8. Titres de participation et emplois assimilés 360 360 360
9. Créances subordonnées - - -
10. Immob. données en crédit-bail et en loca - 34,031 189,110
11. Immobilisations incorporelles 3,952 20,553 26,706
12. Immobilisations corporelles 84,042 93,566 91,564
Total de l'Actif 3,954,741 4,654,779 4,840,711
- - -
PASSIF 31/12/02 31/12/03 31/12/04
1. Banques centrales, Trésor public, SCP
2. Dettes envers les Ets de crédit et assimilés 1,670,371 2,067,714 2,510,250
• A vue 316,479 25,066 68,733
• A terme 1,353,892 2,042,648 2,441,517
3. Dépôts de la clientèle - 37,432 38,708
• Comptes à vue créditeurs - - -
• Comptes d'épargne - - -
• Dépôts à terme - - -
• Autres comptes créditeurs - 37,432 38,708
4. Titres de créance émis 1,240,282 1,436,798 1,116,261
• Titres de créance négociables émis 1,240,282 1,436,798 1,116,261
• Emprunts obligataires émis -
• Autres titres de créance émis -
5. Autres passifs 98,844 112,028 92,897
6. Provisions pour risques et charges 707 793 30,772
7. Provisions réglementées 35,014 33,388 27,486
8. Subv., fonds publics et fonds spéc. garantie -
9. Dettes subordonnées -
10. Ecarts de réévaluation -
11. Réserves et primes liées au capital 644,531 674,187 713,599
12. Capital 167,025 167,025 167,025
13. Actionnaires. Capital non versé (-) -
14. Report!à nouveau (+/-) 2,102 1,501 2,489
15. Résultat nets en instance d'affectation (+/-) -
16. Résultat net de l'exercice (+/-) 95,865 123,913 141,224
Total du Passif 3,954,741 4,654,779 4,840,711
- - -
ETAT DES SOLDES DE GESTION 31/12/02 31/12/03 31/12/04
1. (+) Intérêts et produits assimilés 558,165 642,733 660,086
2. (-) Intérêts et charges assimilées 193,146 190,288 188,866
MARGE D'INTERET 365,019 452,445 471,220
3. (+) Produits sur immobilisations en crédit-bail - 3,122 77,613
4. (-) Charges sur immobilisations en crédit-bail et - 2,215 65,063
Résultat des opérations de crédit-bail et de l - 907 12,550
5. (+) Commissions perçues 8,873 16,639 14,721
6. (-) Commissions servies -
Marge sur commissions 8,873 16,639 14,721
7. (+/-) Résultat des opérations sur titres de tran -
8. (+/-) Résultat des opérations sur titres de pla -
9. (+/-) Résultat des opérations de change -
10.(+/-) Résultat des opérations sur produits déri -
Résultat des opérations de marché -
11. (+) Divers autres produits bancaires 1,382 3,071 3,280
12. (-) Diverses autres charges bancaires 3,416 841 706
PRODUIT NET BANCAIRE 371,858 472,221 501,065
13. (+/-) Résultat des opérations sur immobilisati -
14. (+) Autres produits d'exploitation non bancair 119 680 5,003
15. (-) Autres charges d'exploitation non bancaire 423 - 299
16. (-) Charges générales d'exploitation 93,505 126,697 143,606
RESULTAT BRUT D'EXPLOITATION 278,049 346,204 362,163
17. (+/-) Dotations nettes des reprises aux provis -
créances et engagements par signature en souffra- 123,089 - 153,890 - 102,336
18. (+/-) Autres dotations nettes de reprises aux p - 1,673 - 87 - 29,978
19. (+/-) Autres dotations nettes de reprises aux p - 1,625 5,902
RESULTAT COURANT 153,287 193,852 235,751
RESULTAT NON COURANT - 240 5,623 9,369
19. (-) Impôts sur les résultats 57,182 75,562 103,896
RESULTAT NET DE L'EXERCICE 95,865 123,913 141,224

CAPACITE D'AUTOFINANCEMENT 31/12/02 31/12/03 31/12/04


(+) RESULTAT NET DE L'EXERCICE 95,865 123,913 141,224
20. (+) Dotations aux amortissements et aux provisions des
immobilisations incoporelles et corporelles 8,977 10,633 15,789
21. (+) Dotations aux provisions pour dépréciation des
immobilisations financières
22. (+) Dotations aux provisions pour risques généraux 126 30,711
23. (+) Dotations aux provisions réglementées 13,058 9,736 18,162
24. (+) Dotations non courantes
25. (-) Reprises de provisions 11,384 11,401 24,797
26. (-) Plus-values de cession des immobilisations

incoporelles et corporelles 82 132 4,966


27. (+) Moins-values de cession des immobilisations
incoporelles et corporelles 423 299
28. (-) Plus-values de cession des immobilisations financières
29. (+) Moins-values de cession des immobilisations financières
30. (-) Reprises de subventions d'investissement reçues
(+/-) CAPACITE D'AUTOFINANCEMENT 106,857 132,875 176,422
31. (-) Bénéfices distribués 66,810 66,810 83,512
(+/-) AUTOFINANCEMENT 40,047 66,065 92,910

taux distribution 70% 54% 59%


ROE 11% 14% 16%
Taux de Marge 10% 10% 10%
Coefficient d'exploitation 25% 27% 29%
Marge nette 365,019.00 453,352.00 483,770.00
31/12/05 31/12/06 2002/2003
2003/2004
2004/2005
2005/2006 TCAM
ventilat
942 1,174 191% -84% 62% 25% -2%
29,023 74,314 -30% 141% 39% 156% 57%
7,000,000
29,023 74,314 -30% 141% 39% 156% 57%
- - - - - - 6,000,000
4,617,108 4,799,050 17% 0% 3% 4% 6%
5,000,000
4,533,753 4,703,694 16% 1% 2% 4% 6% 4,508,524

- - - - - - 4,000,000 3,812,496

- - - - - -
3,000,000
83,355 95,356 131% -27% 40% 14% 28%
- - - - - - 2,000,000
- - - - - - 1,000,000
83,890 99,835 -52% 13% 284% 19% 25%
- - - - - - -
360 2,424 0% 0% 0% 573% 61% 2002 2003 2
- - - - - - ###
567,465 1,043,570 - 456% 200% 84% 213% 0%
26,082 24,778 420% 30% -2% -5% 58%
93,804 98,242 11% -2% 2% 5% 4%
5,418,674 6,143,387 18% 4% 12% 13% 12%
- - -
31/12/05 31/12/06 2002/2003
2003/2004
2004/2005
2005/2006 TCAM
- - - - -
3,072,647 3,487,777 24% 21% 22% 14% 20% ###
42,176 119,210 -92% 174% -39% 183% -22% 5,000,000
3,030,471 3,368,567 51% 20% 24% 11% 26%
15,262 10,762 - 3% -61% -29% -34% 4,500,000
- - - - - - 4,000,000
- - - - - -
- - - - - - 3,500,000
15,262 10,762 - 3% -61% -29% -34% 3,000,000
895,481 978,395 16% -22% -20% 9% -6%
895,481 978,395 16% -22% -20% 9% -6% 2,500,000
- - - - - 2,000,000
- - - - -
50%
1,500,000
301,026 495,744 13% -17% 224% 65%
19,029 24,648 12% 3780% -38% 30% 143% 1,000,000
29,358 26,463 -5% -18% 7% -10% -7%
500,000
- - - - -
- - - - - -
- - - - - 1 2
752,225 760,699 5% 6% 5% 1% 4%
167,025 167,025 0% 0% 0% 0% 0%
- - - - -
9,883 12,835 -29% 66% 297% 30% 57%
- - - - -
156,738 179,039 29% 14% 11% 14% 17%
5,418,674 6,143,387 18% 4% 12% 13% 12%
- - -
31/12/05 2,006 2002/2003
2003/2004
2004/2005
2005/2006 TCAM
642,545 639,123 15% 3% -3% -1% 3%
169,392 175,355 -1% -1% -10% 4% -2% réparti
473,153 463,768 24% 4% 0% -2% 6%
131,740 303,053 - 2386% 70% 130% 2%
600,000
100,001 237,267 - 2837% 54% 137% 375%
31,739 65,786 - 1284% 153% 107% 317% 0%
500,000
17,668 20,739 88% -12% 20% 17% 24%
PNB

- - - - - 400,000

300,000

200,000

100,000
600,000

500,000

PNB
400,000
17,668 20,739 88% -12% 20% 17% 24% 6,839
- - - - - 300,000
- - - - -
200,000
- - - - -
- - - - -
100,000
- - - - -
4,833 3,636 122% 7% 47% -25% 27% -
717 703 -75% -16% 2% -2% -33% 1 2
526,676 553,226 27% 6% 5% 5% 10%
- - - - -
76 1,589 471% 636% -98% 1991% 91% Per
759 -100% - 154% -100% -100%
163,121 188,146 35% 13% 14% 15% 19% 600,000
362,872 366,669 25% 5% 0% 1% 7%
- - - - - 500,000

KDH
- 103,687 - 59,100 25% -34% 1% -43% -17% 400,000
- 6,611 - 5,619 -95% 34357% -78% -15% 35%
300,000
- 1,873 2,896 - 263% -132% -255% 21%
250,701 304,846 26% 22% 6% 22% 19% 200,000
- 319 - 14,838 -2443% 67% -103% 4551% 180%
100,000
93,644 110,969 32% 37% -10% 19% 18%
156,738 179,039 29% 14% 11% 14% 17% -
- 2002 2003
31/12/05 31/12/06 2002/2003
2003/2004
2004/2005
2005/2006 TCAM
156,738 179,039 29% 14% 11% 14% 17%
- - - - -
17,809 18,638 18% 48% 13% 5% 20%
- - - - -
- - - - -
8,210 7,319 - 24274% -73% -11% 287%
12,319 16,142 -25% 87% -32% 31% 5%
- - - - -
12,045 20,738 0% 117% -51% 72% 16%
- - - - -

39 1,560 61% 3662% -99% 3900% 109%


- - - - -
759 - -100% - 154% -100% -100%
- - - - -
- - - - -
- - - - -
183,751 198,840 24.35% 32.77% 4.15% 8.21% 16.80%
95,204 145,312 0% 25% 14% 53% 21%
88,547 53,528 64.97% 40.63% -4.70% -39.55% 7.52%

61% 81%
16% 19%
10% 9%
31% 34%
504,892.00 529,554.00
PREVISIONNEL
ventilation encours
2007 2008 2009

7,000,000
5,842,620
6,000,000
5,184,573
7% 5,134,984 5,494,432 ###
5,000,000 4,508,524
4,678,832

Encours LOA
3,812,496
4,000,000
prets perso
3,000,000 encours total

2,000,000

1,000,000

-
2002 2003 2004 2005 2006
### ### ### 5,842,620
1% 4% 11% 18% -10% 939,213 845,292 760,763

Encours ### ### ###

### ### ### 4,466,172


5,000,000
4,500,000
4,000,000
3,500,000
3,000,000 BSF
BQ
2,500,000
TOT
2,000,000
1,500,000
1,000,000
500,000
-
1 2 3 4 5

2,007 2,008 2,009

répartition du PNB
552,229 590,885 632,247

600,000

500,000 0% 3% 6% 12% -10% 59,207 53,287 47,958


PNB

400,000 autres
loa
300,000
interets
200,000

100,000
600,000

500,000
PNB

400,000 autres
18,869 17,295 21,784 23,672 5% 21,776 22,865 24,008
loa
300,000
interets
200,000

100,000

- 3000 3000 3000


1 2 3 4 5 700 700 700
635,512 669,336 706,513

Performance 1000 1000 1000


400 400 400
600,000 10% 206,961 227,657 250,422
429,152 442,280 456,691
500,000
KDH

400,000 PN -60000 -60000 -60000


B
RB -5000 -5000 -5000
300,000
E -1000 -1000 -1000
200,000 RN
363,152 376,280 390,691

100,000
136,182 141,105 146,509
- Resultat Net 226,970 235,175 244,182
2002 2003 2004 2005 2006 4% 4%

Ratio Solva - 23,158 26,553 30,008

CF Disp 203,812 208,622 214,174


VA CFDisp 187,776 177,085 167,493
Σ VA CFD 841,991
V terminale 1,861,616 2 =(vn*(1+t)/(w-t))/(1+w)^n
V0 2,703,607
Nb action 1,670,250

V action ###

tx crois 3%
Bdt Prime Beta
5ans de risque
WACC 3.14% 6.00% 0.9
IONNEL
2010 2011 Années 2007 2008 2009
ECC 5,134,984 5,494,432 5,879,043
E LOA 939,213 845,292 760,763
EG 6,074,197 6,339,724 6,639,805
### 6,730,916
2007 2008
coefficient exploitation 32.57% 34.01%
Marge nette 611,436 644,172
Capt. Propres 1,192,530 1,427,705
ROE 19% 16%
Charges d'exploitation 206,961 227,657

684,686 616,218

### ###

2,010 2,011

676,504 723,860 11%

43,162 38,846
25,208 26,469

3000 3000
700 700
747,175 791,474

1000 1000
400 400
275,465 303,011
472,310 489,063

-60000 -60000
-5000 -5000
-1000 -1000
406,310 423,063

152,366 158,649
253,944 264,415
4% 4%

33,546 37,187

220,398 227,227
158,799 150,838

=(vn*(1+t)/(w-t))/(1+w)^n

Coût du Coût de Levier


Capital la dette WACC
8.5% 8.5%
2010 2011
6,290,576 6,730,916
684,686 616,218
6,975,262 7,347,134

2009 2010 2011


35.44% 36.87% 38.28%
680,205 719,667 762,706
1,671,887 1,925,831 2,190,245
15% 13% 12%
250,422 275,465 303,011
PER
En Milliers de DH 2007E 2008E 2009E
RN 226,969.88 235,174.90 244,181.68
Cours au 11/12/07 1,651.00 1,651.00 1,651.00
Nombre de l'action 1,670,250 1,670,250 1,670,250
BPA 135.89 140.80 146.19
PER 12.15 11.73 11.29
Moyenne du PER sur 3 11.72

Cap. Boursière 2007E 2008E 2009E


Eqdom 2894 12.15 11.73 11.29
Sofac 803 29 29.3 24.5
Maghrébail 747 16.1 14.6 13.4
Maroc Leasing 706 15.9 14.2 11.9
Moyenne pondérée 5150 15.86 15.22 13.74
RN 226,969.9 235,174.9 244,181.7
2,155.8 2,143.3 2,008.9

Valeur de l'entreprise
Capital social 167025000
Nominal de l'action 100
Nombre de l'action 1670250
Valeur par le PER 2102.65
Valorisation par le P/B

2002 2003 2004 2005


11. Réserves et primes liées au 644,531.0 ### ### ###
12. Capital 167,025.0 ### ### ###
14. Report à nouveau (+/-) 2,102.0 1,501.0 2,489.0 9,883.0
16. Résultat net de l'exercice (+ 95,865.0 ### ### ###

Fonds propres en 2007 1,192,530.2


Capitalisation boursière 2,757,582,750.0

Valorisation de l'entreprise
ROE Eqdom 0.18
ROE secteur 0.15
P/B secteur 2.3
P/B Eqdom* 2.82
Nombre de l'action 1670250
Valorisation 2,011.25
*P/B sté= P/Bsecteur*(ROE sté/ROE secteur)

Dividend Yield
Dividendes en 2007 172,930.7
Capitalisation boursière 2,757,582,750.0
Dividend yield 6.27%
2006 2007E
### ###
### ###
12,835.0 12,835.0
### 216,163
EQDOM MASI
Séance Valeur BASE 100 Séance Valeur BASE 100
1/2/2006 1320.00 100.00 1/2/2006 5524.82 100.00
1/3/2006 1320.00 100.00 1/3/2006 5576.5 100.94
1/4/2006 1380.00 104.55 1/4/2006 5643.53 102.15
1/5/2006 1391.00 105.38 1/5/2006 5751.62 104.11
1/6/2006 1390.00 105.30 1/6/2006 5785.36 104.72
1/9/2006 1400.00 106.06 1/9/2006 5876.21 106.36
1/10/2006 1484.00 112.42 1/10/2006 6003.94 108.67
1/13/2006 1528.00 115.76 1/13/2006 6062.95 109.74
1/16/2006 1528.00 115.76 1/16/2006 6078.46 110.02
1/17/2006 1520.00 115.15 1/17/2006 5981.63 108.27
1/18/2006 1470.00 111.36 1/18/2006 5954.38 107.78
1/19/2006 1490.00 112.88 1/19/2006 6020.05 108.96
1/20/2006 1490.00 112.88 1/20/2006 6106.57 110.53
1/25/2006 1551.00 117.50 1/25/2006 6271.38 113.51
1/26/2006 1600.00 121.21 1/26/2006 6309.21 114.20
1/27/2006 1696.00 128.48 1/27/2006 6421.7 116.23
1/30/2006 1797.00 136.14 1/30/2006 6654 120.44
2/1/2006 1811.00 137.20 2/1/2006 6842.45 123.85
2/2/2006 1811.00 137.20 2/2/2006 6784.22 122.80
2/3/2006 1703.00 129.02 2/3/2006 6694.5 121.17
2/6/2006 1805.00 136.74 2/6/2006 6892.98 124.76
2/7/2006 1811.00 137.20 2/7/2006 7088.33 128.30
2/8/2006 1813.00 137.35 2/8/2006 7104.59 128.59
2/9/2006 1900.00 143.94 2/9/2006 7192.92 130.19
2/10/2006 1906.00 144.39 2/10/2006 7243.84 131.11
2/13/2006 1813.00 137.35 2/13/2006 7143.7 129.30
2/14/2006 1813.00 137.35 2/14/2006 6889.94 124.71
2/16/2006 1801.00 136.44 2/16/2006 6985.4 126.44
2/20/2006 1800.00 136.36 2/20/2006 7100.92 128.53
2/21/2006 1849.00 140.08 2/21/2006 7158.94 129.58
2/22/2006 1800.00 136.36 2/22/2006 7206.99 130.45
2/23/2006 1800.00 136.36 2/23/2006 7203.07 130.38
2/24/2006 1800.00 136.36 2/24/2006 7047.75 127.57
2/28/2006 1801.00 136.44 2/28/2006 6960.48 125.99
3/1/2006 1800.00 136.36 3/1/2006 6989.41 126.51
3/3/2006 1820.00 137.88 3/3/2006 7061.07 127.81
3/6/2006 1820.00 137.88 3/6/2006 7126.77 129.00
3/7/2006 1805.00 136.74 3/7/2006 7152.27 129.46
3/9/2006 1800.00 136.36 3/9/2006 6993.63 126.59
3/14/2006 1750.00 132.58 3/14/2006 6785.77 122.82
3/15/2006 1750.00 132.58 3/15/2006 6732.24 121.85
3/17/2006 1751.00 132.65 3/17/2006 6907.1 125.02
3/20/2006 1730.00 131.06 3/20/2006 6913.45 125.13
3/21/2006 1750.00 132.58 3/21/2006 6889.02 124.69
3/23/2006 1771.00 134.17 3/23/2006 7062.86 127.84
3/24/2006 1800.00 136.36 3/24/2006 7105.24 128.61
3/28/2006 1900.00 143.94 3/28/2006 7314.24 132.39
3/29/2006 1890.00 143.18 3/29/2006 7335.78 132.78
3/30/2006 1884.00 142.73 3/30/2006 7261.52 131.43
4/3/2006 1884.00 142.73 4/3/2006 7364.45 133.30
4/4/2006 1840.00 139.39 4/4/2006 7532.09 136.33
4/5/2006 1880.00 142.42 4/5/2006 7600.8 137.58
4/7/2006 1950.00 147.73 4/7/2006 7576.84 137.14
4/13/2006 1949.00 147.65 4/13/2006 7743.15 140.15
4/17/2006 1833.00 138.86 4/17/2006 7604.68 137.65
4/20/2006 1833.00 138.86 4/20/2006 7726.78 139.86
4/21/2006 1833.00 138.86 4/21/2006 7785 140.91
4/24/2006 1800.00 136.36 4/24/2006 7822.25 141.58
4/25/2006 1833.00 138.86 4/25/2006 7890.26 142.81
4/26/2006 1820.00 137.88 4/26/2006 7945.83 143.82
4/27/2006 1900.00 143.94 4/27/2006 8062.47 145.93
4/28/2006 1900.00 143.94 4/28/2006 8074.94 146.16
5/2/2006 1901.00 144.02 5/2/2006 7967.67 144.22
5/4/2006 1904.00 144.24 5/4/2006 8131.18 147.18
5/5/2006 1940.00 146.97 5/5/2006 8336.55 150.89
5/10/2006 1934.00 146.52 5/10/2006 8265.81 149.61
5/12/2006 1886.00 142.88 5/12/2006 8233.34 149.02
5/16/2006 1900.00 143.94 5/16/2006 7968.66 144.23
5/17/2006 1880.00 142.42 5/17/2006 7943.3 143.77
5/22/2006 1800.00 136.36 5/22/2006 7292.56 132.00
5/23/2006 1692.00 128.18 5/23/2006 7034.06 127.32
5/24/2006 1680.00 127.27 5/24/2006 7176.85 129.90
5/25/2006 1630.00 123.48 5/25/2006 7139.69 129.23
5/29/2006 1680.00 127.27 5/29/2006 6897.63 124.85
5/31/2006 1591.00 120.53 5/31/2006 7146.17 129.35
6/1/2006 1600.00 121.21 6/1/2006 7261.83 131.44
6/2/2006 1595.00 120.83 6/2/2006 7300.8 132.15
6/6/2006 1500.00 113.64 6/6/2006 7107.08 128.64
6/7/2006 1500.00 113.64 6/7/2006 7005.17 126.79
6/8/2006 1500.00 113.64 6/8/2006 6836.09 123.73
6/9/2006 1450.00 109.85 6/9/2006 6792.03 122.94
6/12/2006 1400.00 106.06 6/12/2006 6687.55 121.05
6/13/2006 1350.00 102.27 6/13/2006 6563.27 118.80
6/14/2006 1375.00 104.17 6/14/2006 6681.37 120.93
6/15/2006 1375.00 104.17 6/15/2006 6821.86 123.48
6/16/2006 1375.00 104.17 6/16/2006 6928.17 125.40
6/19/2006 1400.00 106.06 6/19/2006 6964.9 126.07
6/22/2006 1410.00 106.82 6/22/2006 6922.15 125.29
6/23/2006 1400.00 106.06 6/23/2006 6891.24 124.73
6/27/2006 1400.00 106.06 6/27/2006 6839.94 123.80
6/29/2006 1480.00 112.12 6/29/2006 7026.04 127.17
6/30/2006 1415.00 107.20 6/30/2006 7173.71 129.85
7/5/2006 1450.00 109.85 7/5/2006 7417.3 134.25
7/12/2006 1450.00 109.85 7/12/2006 7366.01 133.33
7/14/2006 1452.00 110.00 7/14/2006 7355.8 133.14
7/17/2006 1539.00 116.59 7/17/2006 7282.73 131.82
7/18/2006 1480.00 112.12 7/18/2006 7301.61 132.16
7/19/2006 1491.00 112.95 7/19/2006 7264.46 131.49
7/20/2006 1407.00 106.59 7/20/2006 7202.53 130.37
7/21/2006 1407.00 106.59 7/21/2006 7178.22 129.93
7/24/2006 1408.00 106.67 7/24/2006 7184.81 130.05
7/25/2006 1410.00 106.82 7/25/2006 7171.61 129.81
7/26/2006 1407.00 106.59 7/26/2006 7084.84 128.24
7/28/2006 1400.00 106.06 7/28/2006 7039.32 127.41
8/7/2006 1478.00 111.97 8/7/2006 7096.95 128.46
8/8/2006 1490.00 112.88 8/8/2006 7285.31 131.87
8/10/2006 1500.00 113.64 8/10/2006 7366.82 133.34
8/16/2006 1530.00 115.91 8/16/2006 7509.64 135.93
8/17/2006 1530.00 115.91 8/17/2006 7515.65 136.03
8/18/2006 1530.00 115.91 8/18/2006 7551.32 136.68
8/23/2006 1570.00 118.94 8/23/2006 7586.67 137.32
8/24/2006 1570.00 118.94 8/24/2006 7694.02 139.26
8/28/2006 1550.00 117.42 8/28/2006 7838.39 141.88
8/30/2006 1550.00 117.42 8/30/2006 7859.35 142.26
8/31/2006 1570.00 118.94 8/31/2006 7872.15 142.49
9/1/2006 1570.00 118.94 9/1/2006 7870.81 142.46
9/4/2006 1540.00 116.67 9/4/2006 7885.82 142.73
9/5/2006 1560.00 118.18 9/5/2006 7909.69 143.17
9/7/2006 1595.00 120.83 9/7/2006 8018.77 145.14
9/8/2006 1645.00 124.62 9/8/2006 8112.95 146.85
9/11/2006 1700.00 128.79 9/11/2006 8214.65 148.69
9/12/2006 1651.00 125.08 9/12/2006 8184.01 148.13
9/13/2006 1660.00 125.76 9/13/2006 8199.36 148.41
9/15/2006 1659.00 125.68 9/15/2006 8123.59 147.04
9/19/2006 1675.00 126.89 9/19/2006 8052.35 145.75
9/20/2006 1650.00 125.00 9/20/2006 7993.39 144.68
9/21/2006 1655.00 125.38 9/21/2006 8041.53 145.55
9/22/2006 1670.00 126.52 9/22/2006 8061.6 145.92
9/26/2006 1670.00 126.52 9/26/2006 8004.68 144.89
9/28/2006 1675.00 126.89 9/28/2006 8042.39 145.57
9/29/2006 1680.00 127.27 9/29/2006 8069.89 146.07
10/3/2006 1700.00 128.79 10/3/2006 8154.19 147.59
10/4/2006 1700.00 128.79 10/4/2006 8123.64 147.04
10/5/2006 1675.00 126.89 10/5/2006 7898.9 142.97
10/16/2006 1695.00 128.41 10/16/2006 7704.66 139.46
10/17/2006 1699.00 128.71 10/17/2006 7736.37 140.03
10/18/2006 1710.00 129.55 10/18/2006 7776.6 140.76
10/20/2006 1695.00 128.41 10/20/2006 7945.56 143.82
10/23/2006 1709.00 129.47 10/23/2006 7962.33 144.12
10/26/2006 1720.00 130.30 10/26/2006 8041.3 145.55
10/27/2006 1695.00 128.41 10/27/2006 8106.98 146.74
10/30/2006 1690.00 128.03 10/30/2006 8241.36 149.17
10/31/2006 1700.00 128.79 10/31/2006 8431.06 152.60
11/1/2006 1740.00 131.82 11/1/2006 8485.99 153.60
11/2/2006 1700.00 128.79 11/2/2006 8534.39 154.47
11/3/2006 1700.00 128.79 11/3/2006 8586.2 155.41
11/7/2006 1700.00 128.79 11/7/2006 8746.88 158.32
11/9/2006 1700.00 128.79 11/9/2006 8548.01 154.72
11/10/2006 1635.00 123.86 11/10/2006 8583.94 155.37
11/13/2006 1700.00 128.79 11/13/2006 8712.5 157.70
11/14/2006 1700.00 128.79 11/14/2006 8823.13 159.70
11/16/2006 1689.00 127.95 11/16/2006 8741.19 158.22
11/20/2006 1700.00 128.79 11/20/2006 8731.19 158.04
11/21/2006 1680.00 127.27 11/21/2006 8762.43 158.60
11/23/2006 1699.00 128.71 11/23/2006 8950.32 162.00
11/24/2006 1620.00 122.73 11/24/2006 9109.55 164.88
11/27/2006 1620.00 122.73 11/27/2006 9163.97 165.87
11/29/2006 1620.00 122.73 11/29/2006 9108.32 164.86
12/1/2006 1635.00 123.86 12/1/2006 9204.53 166.60
12/6/2006 1645.00 124.62 12/6/2006 9316.92 168.64
12/7/2006 1740.00 131.82 12/7/2006 9495.48 171.87
12/8/2006 1740.00 131.82 12/8/2006 9735.85 176.22
12/11/2006 1700.00 128.79 12/11/2006 9836.59 178.04
12/12/2006 1700.00 128.79 12/12/2006 9909.81 179.37
12/13/2006 1730.00 131.06 12/13/2006 10132.62 183.40
12/14/2006 1750.00 132.58 12/14/2006 9903.26 179.25
12/15/2006 1700.00 128.79 12/15/2006 9710.62 175.76
12/19/2006 1651.00 125.08 12/19/2006 9480.16 171.59
12/20/2006 1650.00 125.00 12/20/2006 9400.44 170.15
12/21/2006 1655.00 125.38 12/21/2006 9434.68 170.77
12/22/2006 1655.00 125.38 12/22/2006 9538.08 172.64
12/25/2006 1655.00 125.38 12/25/2006 9522.9 172.37
12/26/2006 1645.00 124.62 12/26/2006 9465.36 171.32
12/27/2006 1635.00 123.86 12/27/2006 9481.64 171.62
12/28/2006 1632.00 123.64 12/28/2006 9435.72 170.79
12/29/2006 1632.00 123.64 12/29/2006 9479.61 171.58
1/2/2007 1632.00 123.64 1/2/2007 9482.63 171.64
1/3/2007 1633.00 123.71 1/3/2007 9625.38 174.22
1/5/2007 1700.00 128.79 1/5/2007 9935.2 179.83
1/9/2007 1700.00 128.79 1/9/2007 9971.41 180.48
1/12/2007 1700.00 128.79 1/12/2007 9814.77 177.65
1/15/2007 1730.00 131.06 1/15/2007 9856.22 178.40
1/16/2007 1740.00 131.82 1/16/2007 10006.88 181.13
1/17/2007 1799.00 136.29 1/17/2007 10026.46 181.48
1/19/2007 1770.00 134.09 1/19/2007 9953.82 180.17
1/22/2007 1761.00 133.41 1/22/2007 9975.1 180.55
1/25/2007 1761.00 133.41 1/25/2007 10065.07 182.18
1/26/2007 1780.00 134.85 1/26/2007 10217.59 184.94
1/29/2007 1780.00 134.85 1/29/2007 10345.93 187.26
1/30/2007 1780.00 134.85 1/30/2007 10445.79 189.07
1/31/2007 1800.00 136.36 1/31/2007 10455.33 189.24
2/1/2007 1790.00 135.61 2/1/2007 10207.24 184.75
2/5/2007 1715.00 129.92 2/5/2007 10311.81 186.65
2/6/2007 1781.00 134.92 2/6/2007 10419.39 188.59
2/13/2007 1800.00 136.36 2/13/2007 10627.44 192.36
2/14/2007 1787.00 135.38 2/14/2007 10639.47 192.58
2/15/2007 1820.00 137.88 2/15/2007 10710.87 193.87
2/16/2007 1820.00 137.88 2/16/2007 10907.91 197.43
2/20/2007 1741.00 131.89 2/20/2007 11016.69 199.40
2/22/2007 1845.00 139.77 2/22/2007 10582.25 191.54
2/23/2007 1761.00 133.41 2/23/2007 10432.54 188.83
2/27/2007 1790.00 135.61 2/27/2007 10646.51 192.70
3/1/2007 1830.00 138.64 3/1/2007 10588.37 191.65
3/2/2007 1845.00 139.77 3/2/2007 10759.63 194.75
3/5/2007 1885.00 142.80 3/5/2007 10858.28 196.54
3/6/2007 1930.00 146.21 3/6/2007 11036.34 199.76
3/7/2007 1901.00 144.02 3/7/2007 11201.17 202.74
3/8/2007 1918.00 145.30 3/8/2007 11309.87 204.71
3/9/2007 1925.00 145.83 3/9/2007 11066.35 200.30
3/13/2007 1925.00 145.83 3/13/2007 11268.81 203.97
3/14/2007 1930.00 146.21 3/14/2007 11243.69 203.51
3/15/2007 1900.00 143.94 3/15/2007 11147 201.76
3/16/2007 1950.00 147.73 3/16/2007 11176.71 202.30
3/19/2007 1959.00 148.41 3/19/2007 11153.67 201.88
3/20/2007 1960.00 148.48 3/20/2007 11252.99 203.68
3/22/2007 1950.00 147.73 3/22/2007 11374.17 205.87
3/23/2007 1960.00 148.48 3/23/2007 11474.46 207.69
3/26/2007 1960.00 148.48 3/26/2007 11470.33 207.61
3/27/2007 1960.00 148.48 3/27/2007 11441.79 207.10
3/28/2007 1948.00 147.58 3/28/2007 11547.85 209.02
3/29/2007 1948.00 147.58 3/29/2007 11556.67 209.18
3/30/2007 1948.00 147.58 3/30/2007 11497.87 208.11
4/4/2007 1947.00 147.50 4/4/2007 11335.98 205.18
4/6/2007 1947.00 147.50 4/6/2007 11411.05 206.54
4/9/2007 1951.00 147.80 4/9/2007 11409.23 206.51
4/11/2007 1915.00 145.08 4/11/2007 11515.26 208.43
4/12/2007 1960.00 148.48 4/12/2007 11550.37 209.06
4/13/2007 1960.00 148.48 4/13/2007 11623.48 210.39
4/16/2007 1960.00 148.48 4/16/2007 11647.51 210.82
4/17/2007 1970.00 149.24 4/17/2007 11691.3 211.61
4/18/2007 1970.00 149.24 4/18/2007 11739.02 212.48
4/19/2007 1970.00 149.24 4/19/2007 11820.17 213.95
4/20/2007 1970.00 149.24 4/20/2007 11885.14 215.12
4/23/2007 1961.00 148.56 4/23/2007 12041.23 217.95
4/25/2007 1970.00 149.24 4/25/2007 12273.26 222.15
4/27/2007 1975.00 149.62 4/27/2007 12284.36 222.35
4/30/2007 1955.00 148.11 4/30/2007 12330.32 223.18
5/2/2007 1953.00 147.95 5/2/2007 12465.38 225.63
5/3/2007 1979.00 149.92 5/3/2007 12526.45 226.73
5/7/2007 1950.00 147.73 5/7/2007 12651.12 228.99
5/10/2007 1920.00 145.45 5/10/2007 11947.18 216.25
5/11/2007 1895.00 143.56 5/11/2007 11486.46 207.91
5/15/2007 1830.00 138.64 5/15/2007 11076.22 200.48
5/16/2007 1900.00 143.94 5/16/2007 11448.98 207.23
5/17/2007 1900.00 143.94 5/17/2007 11579.29 209.59
5/23/2007 1900.00 143.94 5/23/2007 11572.69 209.47
5/25/2007 1900.00 143.94 5/25/2007 11424.96 206.79
5/28/2007 1900.00 143.94 5/28/2007 11446 207.17
5/29/2007 1900.00 143.94 5/29/2007 11430.47 206.89
5/30/2007 1899.00 143.86 5/30/2007 11453.37 207.31
5/31/2007 1900.00 143.94 5/31/2007 11864.61 214.75
6/1/2007 1968.00 149.09 6/1/2007 11789.41 213.39
6/4/2007 1969.00 149.17 6/4/2007 11831.57 214.15
6/5/2007 2000.00 151.52 6/5/2007 11946.53 216.23
6/6/2007 2009.00 152.20 6/6/2007 11945.75 216.22
6/7/2007 1914.00 145.00 6/7/2007 11772.35 213.08
6/8/2007 1920.00 145.45 6/8/2007 11752.14 212.72
6/11/2007 1809.00 137.05 6/11/2007 11789.98 213.40
6/15/2007 1875.00 142.05 6/15/2007 11508.86 208.31
6/19/2007 1811.00 137.20 6/19/2007 11578.42 209.57
6/22/2007 1875.00 142.05 6/22/2007 11500.07 208.15
6/26/2007 1820.00 137.88 6/26/2007 11511.19 208.35
6/27/2007 1810.00 137.12 6/27/2007 11417.8 206.66
6/28/2007 1810.00 137.12 6/28/2007 11448.43 207.22
7/6/2007 1875.00 142.05 7/6/2007 11524.69 208.60
7/13/2007 1860.00 140.91 7/13/2007 11310.69 204.73
7/16/2007 1865.00 141.29 7/16/2007 11396.54 206.28
7/18/2007 1865.00 141.29 7/18/2007 11391.44 206.19
7/19/2007 1755.00 132.95 7/19/2007 11330.63 205.09
7/24/2007 1652.00 125.15 7/24/2007 11331.41 205.10
7/25/2007 1666.00 126.21 7/25/2007 11309.03 204.69
7/26/2007 1750.00 132.58 7/26/2007 11394.32 206.24
7/31/2007 1750.00 132.58 7/31/2007 11611.58 210.17
8/3/2007 1748.00 132.42 8/3/2007 12015.94 217.49
8/8/2007 1758.00 133.18 8/8/2007 12047.3 218.06
8/10/2007 1700.00 128.79 8/10/2007 12213.86 221.07
8/15/2007 1705.00 129.17 8/15/2007 12203.91 220.89
8/16/2007 1710.00 129.55 8/16/2007 12088.24 218.80
8/17/2007 1710.00 129.55 8/17/2007 12143 219.79
8/22/2007 1789.00 135.53 8/22/2007 12147.27 219.87
8/24/2007 1790.00 135.61 8/24/2007 12332.97 223.23
8/27/2007 1859.00 140.83 8/27/2007 12423.45 224.87
8/31/2007 1760.00 133.33 8/31/2007 12625.01 228.51
9/3/2007 1715.00 129.92 9/3/2007 12828.39 232.20
9/4/2007 1716.00 130.00 9/4/2007 13085.84 236.86
9/5/2007 1760.00 133.33 9/5/2007 13506.29 244.47
9/6/2007 1745.00 132.20 9/6/2007 13090.75 236.94
9/7/2007 1745.00 132.20 9/7/2007 13062.47 236.43
9/10/2007 1716.00 130.00 9/10/2007 13182.36 238.60
9/12/2007 1706.00 129.24 9/12/2007 12811.55 231.89
9/18/2007 1701.00 128.86 9/18/2007 12863.43 232.83
9/24/2007 1710.00 129.55 9/24/2007 12743.33 230.66
9/25/2007 1721.00 130.38 9/25/2007 12734.53 230.50
9/27/2007 1720.00 130.30 9/27/2007 12768.75 231.12
9/28/2007 1700.00 128.79 9/28/2007 12819.11 232.03
10/2/2007 1760.00 133.33 10/2/2007 12916.03 233.78
10/3/2007 1700.00 128.79 10/3/2007 12875.88 233.06
10/4/2007 1710.00 129.55 10/4/2007 12931.34 234.06
10/5/2007 1750.00 132.58 10/5/2007 12922.95 233.91
10/8/2007 1720.00 130.30 10/8/2007 13045.55 236.13
10/9/2007 1760.00 133.33 10/9/2007 13129.57 237.65
10/15/2007 1758.00 133.18 10/15/2007 13175.08 238.47
10/16/2007 1720.00 130.30 10/16/2007 13105.31 237.21
10/17/2007 1702.00 128.94 10/17/2007 13100.6 237.12
10/18/2007 1702.00 128.94 10/18/2007 13154.54 238.10
10/19/2007 1755.00 132.95 10/19/2007 13191.12 238.76
10/22/2007 1706.00 129.24 10/22/2007 13166.83 238.32
10/24/2007 1711.00 129.62 10/24/2007 13248.64 239.80
10/30/2007 1720.00 130.30 10/30/2007 13147.06 237.96
10/31/2007 1712.00 129.70 10/31/2007 12852.84 232.64
11/1/2007 1700.00 128.79 11/1/2007 12797.43 231.64
11/2/2007 1700.00 128.79 11/2/2007 13048.56 236.18
11/5/2007 1671.00 126.59 11/5/2007 13101.05 237.13
11/8/2007 1745.00 132.20 11/8/2007 13016.91 235.61
11/12/2007 1676.00 126.97 11/12/2007 13025.76 235.77
11/13/2007 1750.00 132.58 11/13/2007 12956.11 234.51
11/15/2007 1748.00 132.42 11/15/2007 13007 235.43
11/16/2007 1750.00 132.58 11/16/2007 12987.41 235.07
11/19/2007 1750.00 132.58 11/19/2007 13018.19 235.63
11/21/2007 1765.00 133.71 11/21/2007 12963.57 234.64
11/22/2007 1769.00 134.02 11/22/2007 12899.34 233.48
11/23/2007 1800.00 136.36 11/23/2007 12798.09 231.65
11/26/2007 1829.00 138.56 11/26/2007 12614.22 228.32
11/27/2007 1790.00 135.61 11/27/2007 12600.5 228.07
11/28/2007 1795.00 135.98 11/28/2007 12728.05 230.38
11/29/2007 1780.00 134.85 11/29/2007 12806.94 231.81
11/30/2007 1760.00 133.33 11/30/2007 12683.43 229.57
12/3/2007 1720.00 130.30 12/3/2007 12659.2 229.13
12/4/2007 1720.00 130.30 12/4/2007 12643.22 228.84
12/5/2007 1715.00 129.92 12/5/2007 12596.1 227.99
12/6/2007 1715.00 129.92 12/6/2007 12554.94 227.25
12/7/2007 1671.00 126.59 12/7/2007 12414.44 224.70
12/10/2007 1647.00 124.77 12/10/2007 12547.04 227.10
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