Financial
Statements
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2
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3
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4
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5-9
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10
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Supplemental
Schedule
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11
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Exhibit
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Note:
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Other
schedules required by Section 2520.103-10 of the Department of Labor’s
Rules and Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974 (“ERISA”) have been omitted because
they are not applicable.
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2003
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2002
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||||
Assets
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|||||
Investments,
at fair value
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|||||
Mutual
funds
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$
3,118,358
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$
2,239,196
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|||
Common/collective
trust
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2,134,979
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1,804,710
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|||
Common
stock of sponsor and affiliate
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492,731
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414,752
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Participant
loans
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517,413
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573,016
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|||
Total
investments
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6,263,481
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5,031,674
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Receivables
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||||
Participant
contributions
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48,883
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45,933
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Employer
contributions
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123,064
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127,937
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Other
receivable
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16,071
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-
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Total
receivables
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188,018
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173,870
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Total
assets
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6,451,499
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5,205,544
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Liabilities
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|||||
Accrued
administrative expenses
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4,231
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8,423
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Total
liabilities
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4,231
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8,423
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Net
assets available for benefits
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$
6,447,268
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$
5,197,121
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2003
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||||||
Additions
to net assets attributed to
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||||||
Investment
income
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||||||
Net
appreciation in fair value of investments
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$
640,093
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|||||
Interest
and dividends
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180,199
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|||||
Total
investments
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820,292
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|||||
Contributions
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||||||
Participant
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502,703
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|||||
Employer
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313,443
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|||||
Total
contributions
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816,146
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|||||
Other
income
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16,071
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|||||
Total
additions
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1,652,509
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|||||
Deductions
from net assets attributed to
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||||||
Benefits
paid to participants and employee withdrawals
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379,027
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|||||
Administrative
expenses
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23,335
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|||||
Total
deductions
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402,362
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|||||
Net
increase
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1,250,147
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|||||
Net
assets available for plan benefits
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Beginning
of year
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5,197,121
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|||||
End
of year
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$
6,447,268
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1. |
Description
of the Plan
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Participant
Contribution
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Company
Matching
Contribution
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1%
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0.667%
of compensation
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2%
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1.334%
of compensation
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3%
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2.000%
of compensation
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4%
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2.500%
of compensation
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5%
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3.000%
of compensation
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2. |
Summary
of Significant Accounting
Policies
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3. |
Investments
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2003
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2002
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||||
Merrill
Lynch Retirement Preservation Trust
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$
2,134,979
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$
1,804,710
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Merrill
Lynch Balanced Capital Fund
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700,069
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523,109
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Merrill
Lynch Global Allocation Fund
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622,315
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416,266
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Merrill
Lynch Core Bond Fund
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465,751
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437,288
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Merrill
Lynch S&P 500 Index Fund
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338,431
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-
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Van
Kampen Comstock Fund A
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718,228
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456,253
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Kyocera
Corporation Common Stock
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415,073
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371,406
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Participant
Loans
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517,413
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573,016
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$ 5,912,259
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$
4,582,048
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AVX
Corporation Common Stock
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$
31,425
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||||
Kyocera
Corporation Common Stock
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57,472
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||||
Mutual
Funds
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551,196
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||||
$
640,093
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4. |
Related-Party
Transactions
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5. |
Plan
Termination
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6. |
Tax
Status
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7. |
Reconciliation
Between the Financial Statements and Form
5500
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2003
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2002
|
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Net
assets available for benefits per the financial statements
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$
6,447,268
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$
5,197,121
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Less:
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||||
Participant
contributions receivable
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(48,883)
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(45,933)
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Employer
contributions receivable
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(123,064)
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(127,937)
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Other
receivable
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(16,071)
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-
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Add:
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||||
Accrued
administrative expense
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4,231
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8,423
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Net
assets available for benefits per Form 5500
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$
6,263,481
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$
5,031,674
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2003
|
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Net
increase in net assets available for benefits per the financial
statements
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$
1,250,147
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Add:
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||||
Participant
contributions receivable at December 31, 2002
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45,933
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Employer
contributions receivable at December 31, 2002
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127,937
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Accrued
administrative expense at December 31, 2003
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4,231
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|||
Less:
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Participant
contributions receivable at December 31, 2003
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(48,883)
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Employer
contributions receivable at December 31, 2003
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(123,064)
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Accrued
administrative expense at December 31, 2002
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(8,423)
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Other
income
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(16,071)
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Net
assets available for benefits per Form 5500
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$
1,231,807
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8. |
Risks
and Uncertainties
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9. |
Subsequent
Event
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By:
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/s/
Gerald Boykin
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Gerald
Boykin
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Plan
Administrator of the AFGWU Local 1028 401(k) Retirement Plan for
Employees
of AVX Corporation in Raleigh, North Carolina
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Date:
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August
18, 2006
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(a)
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(b)
Identity
of issue, borrower, lessor or similar party
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(c)
Description
of investment including maturity date, rate of interest, collateral,
par
of maturity value
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(d)
Cost**
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(e)
Current
value
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||||
*
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Merrill
Lynch Retirement Preservation Trust
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Common/collective
trust
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$
2,134,979
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|||||
*
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Merrill
Lynch Balanced Capital Fund
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Mutual
Fund
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700,069
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|||||
*
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Merrill
Lynch Global Allocation Fund
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Mutual
Fund
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622,315
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|||||
*
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Merrill
Lynch Core Bond Fund
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Mutual
Fund
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465,751
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|||||
*
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Merrill
Lynch S&P 500 Index Fund
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Mutual
Fund
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338,431
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|||||
Van
Kampen Comstock Fund A
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Mutual
Fund
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718,228
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||||||
Davis
New York Venture Fund A
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Mutual
Fund
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138,660
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||||||
State
Street Research Aurora Fund A
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Mutual
Fund
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134,904
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||||||
3,118,358
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||||||||
*
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Kyorcera
Corporation
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Common
Stock
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415,073
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|||||
*
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AVX
Corporation
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Common
Stock
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77,658
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|||||
492,731
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||||||||
*
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Participant
Loans
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Interest
rates: 6% - 10% with varying
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|
|||||
maturity
dates
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517,413
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|||||||
$
6,263,481
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||||||||
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||||||||
*Denotes
a party-in-interest
|
||||||||
**Not
applicable for participant directed investments
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