1. SUFFOLK COUNTY COUNCIL PENSION FUND Annual Summary Performance Review Period to 31 st March 2007 LOUIS-PAUL Hill 5 th September 2007

2. LOCAL AUTHORITY UNIVERSE LATEST YEAR RETURNS & RANGES

3. LOCAL AUTHORITY UNIVERSE – Last Ten Years to end March 07 UK OVERSEAS NORTH EUROPE JAPAN PACIFIC UK OVERSEAS INDEX CASHOTHER PROPERTY TOTAL EQUITIES EQUITIES AMERICA EX JAPAN BONDS BONDS LINKED ASSETS % p.a. Local 7.67.25.810.14.06.17.44.97.54.610.313.7 7.7 Authority Index 7.76.86.89.62.44.66.73.87.4 ---

4. LOCAL AUTHORITY LONGER TERM ASSET ALLOCATION

5. SUFFOLK CC v STRATEGIC B’MARK - Periods to end March 07

6. SUFFOLK CC v STRATEGIC B’MARK – Attribution for year to end March 07

7. SUFFOLK CC v STRATEGIC B’MARK – 10 Yrs to end March 07

8. SUFFOLK CC v STRATEGIC B’MARK – Attribution for 10 Yrs to end March 07

9. SUFFOLK CC ASSET MANAGER PERFORMANCE – Year to end March 07 Manager% FundMandate % Relative Return L&G33 Passive Multi-Asset0.3 Capital18Active Global Equity-1.1 Soc Gen15Active UK Equity-0.1 Alliance Bernstein14Active UK Equity1.3 Schroder13Active Property2.4 Aberdeen6Active Bonds1.0

10. SUFFOLK CC ASSET MANAGER PERFORMANCE – Medium and Long Term to end March 07 Manager % 3 Year Relative Return (p.a.) % 3 Year Target (p.a.) % 3 Year Relative Risk (p.a.) % Longest Term Relative Return (p.a.) L&G0.2match0.20.0 (6 years) Capital-1.9+1.51.7-0.6 (6 years) Soc Gen-1.4+1.752.3-0.2 (6 years) Schroder1.6+0.753.71.7 (5 years) Aberdeen Bonds0.4+0.750.8-0.1 (6 years)

11. SUFFOLK CC v LOCAL AUTHORITY UNIVERSE – Attribution for year to end March 07

12. SUFFOLK CC v LOCAL AUTHORITY UNIVERSE – 10 Yrs to end March 07

13. SUFFOLK CC & LOCAL AUTHORITY RISK

14. GLOSSARY OF TERMS Absolute Risk – is the investment risk in a fund and is associated with the degree of uncertainty in the return achieved and is defined by the volatility on its returns. To be statistically robust, WM use 36- monthly observations of fund, portfolio or benchmark return. Asset Allocation Contribution – is the portion of the over/under-performance attributable to differences in asset structure in comparison with the benchmark during the reporting period. Information Ratio – is often interpreted as a measure of manager skill in adding value over and above the benchmark and is calculated as a ratio of the relative return and the relative risk taken by the portfolio over a given period. Ranking – indicates the position occupied by the portfolio’s return when all returns earned by portfolios in a particular universe are listed in descending order. A ranking of ‘n’ means that n% of funds achieved a return greater than or equal to that return. Relative Return – the degree of out or under performance of the benchmark. Relative Risk (Active Risk or Tracking Error) – measures the degree of volatility of relative returns. The larger the relative risk the greater the monthly deviation from benchmark. Stock Selection Contribution – is the portion of the over/under-performance attributable to the choice of securities within each of the defined areas of investment. Strategic Risk – measures the degree of volatility in the strategic benchmark return relative to the minimum risk benchmark.