GIC Abroad: Paris, France December 8, 2006 614 Landis Avenue, Vineland, NJ 08360 800-257-7013 www.cumber.com B a s is P o in ts 1000 1200 1400 1600 1800 200 400 600 800 Daily Spreads of JPMorgan's Emerging Market Bond Index (EMBI)+ Sovereign over US Benchmark Bond Yields. Data through 11/23/06. 150 200 250 Chart 2 0 9-May-06 23-Nov Source: JP Morgan and Cumberland Advisors. ©Cumberland Advisors