The following table depicts our most recent returns (preliminary and subject to change upon final reconciliation and filing) for the WPS US Composite (Net) versus the S&P 500 Index (with dividends reinvested).

	Returns Year-to-Date
	Month June	YTD 2008 (as of 6/30/2008)	2nd Qtr 2008
WPS Net*	-8.7%	-12.4%	-6.5%
S&P 500 Index	-8.4%	-11.9%	-2.7%

*Preliminary. Updated on a monthly basis.

Our long-term compounded annualized returns for the three, five and ten year periods (Net) for the WPS US Composite versus the S&P 500 Index (with dividends reinvested) are as follows:

	Annualized Returns as of March 31, 2008
	3 Year	5 Year	10 Year
WPS Net	4.4%	9.6%	3.7%
S&P 500 Index	5.8%	11.3%	3.5%

Updated on a quarterly basis.

And detailed annual returns (Gross and Net) for the WPS US Composite versus the S&P 500 Index (with dividends reinvested). 

Year Ending December	Annual % Change
	WPS Gross	WPS Net	S&P 500 Index
1975	64.8%	63.6%	37.2%
1976	31.4%	30.3%	23.6%
1977	16.0%	14.8%	(7.4%)
1978	12.9%	11.7%	6.4%
1979	33.1%	31.9%	18.2%
1980	33.4%	32.3%	32.3%
1981	10.8%	9.7%	(5.0%)
1982	36.9%	35.7%	21.4%
1983	28.3%	27.2%	22.4%
1984	17.8%	16.5%	6.1%
1985	49.0%	47.7%	31.6%
1986	21.1%	19.9%	18.6%
1987	8.8%	7.6%	5.1%
1988	9.5%	8.2%	16.6%
1989	36.1%	34.8%	31.7%
1990	13.2%	11.7%	(3.1%)
1991	54.1%	52.7%	30.5%
1992	7.1%	5.7%	7.6%
1993	(2.1%)	(3.1%)	10.1%
1994	3.2%	2.0%	1.3%
1995	34.7%	33.4%	37.6%
1996	36.0%	34.6%	23.0%
1997	32.2%	30.9%	33.4%
1998	32.7%	31.3%	28.6%
1999	11.8%	10.5%	21.0%
2000	(1.3%)	(2.5%)	(9.1%)
2001	(5.8%)	(6.9%)	(11.9%)
2002	(14.4%)	(15.6%)	(22.1%)
2003	19.8%	18.6%	28.7%
2004	20.4%	19.2%	10.9%
2005	7.3%	6.2%	4.9%
2006	9.0%	7.9%	15.8%
2007	2.1%	1.0%	5.5%
Annualized Returns (since inception)	18.6%	17.4%	12.8%

Updated on a quarterly basis.

To access our historical quarterly returns, click here.

This information is incomplete without the accompanying explanatory notes.