Endowment Trustees Report to ALA Executive Board (Long-Term Investment Fund) ET # EBD #13.0 ( Fall Meeting) Dan Bradbury – Senior Trustee Saturday – October 24, 2009 Chicago, Il.

Market Flash Points Strong market advance since mid February Unemployment still rising and expected to continue until 1 st quarter of 2010 Economic conditions worldwide improving Federal Reserve continues to maintain an interest rate friendly environment Exhibit #1

Market Valued vs. Book Exhibit #2

Fiscal Year 2009 Volatility (Market Value) ($000’s ) Exhibit #3 *Millions

Endowment Fund Manager Allocation & $27,991,766 Exhibit #4

Performance – 9/30/09 (YTD Returns) Exhibit #5 *Returns for Russell 1000 Mid Cap value – Ariel Mgt. choice, KLD Social Select and Domini 400 Social indexes respectively **These returns are unaudited. Composite benchmark is 55% Russell 3000, 10% MSCI EAFE and 35% ML Domestic Master

Asset Allocation Strategy Exhibit #6

Recent Strategic/Tactical Moves Implemented a Large Cap Value overweight and reduced the Large Cap Growth overweight Replaced the current Large Cap Value manager Blackrock with an Institutional Discretionary Portfolio* (IDP) Invest $2 million in The Endowment Fund** - Alternative Investment *A portfolio solution of “Manager of Managers” – a portfolio of individual managers, mutual funds, ETF’s **A portfolio of “Fund of Fund” hedge fund managers i.e. multiple hedge funds in one portfolio Exhibit #7

Thank You for Your Attention