as of November 30, 2008
| Percentage of Portfolio Assets† | |
| NESTLE SA | 3.19 % |
| ROCHE HOLDINGS - GENUS | 3.03 % |
| SCHLUMBERGER | 2.49 % |
| CRH - EURO | 2.43 % |
| FRESENIUS MEDICAL CA | 2.37 % |
| CEMIG PREF | 2.36 % |
| ROGERS COMMUNICATIONS CL | 2.27 % |
| ENBRIDGE | 2.14 % |
| INTERNATIONAL POWER | 2.04 % |
| ADMIRAL GROUP PLC | 1.95 % |
| BHP BILLITON LIMITED | 1.94 % |
| SYNGENTA AG (CHF) | 1.91 % |
| SAMSUNG ELECTRONIC | 1.90 % |
| IBERDROLA RENOVABLES | 1.87 % |
| KUEHNE & NAGEL INTL AG-RE | 1.87 % |
| UPM - KYMMENE | 1.80 % |
| BAE SYSTEMS PLC | 1.77 % |
| ROYAL DUTCH SHELL PLC-B | 1.75 % |
| RYANAIR HOLDINGS - EUR | 1.75 % |
| RECKITT BENCKISER GROUP | 1.74 % |
| TRANSOCEAN INC | 1.71 % |
| DIAGEO - NEW | 1.67 % |
| AIR LIQUIDE | 1.66 % |
| CORE LABS NV | 1.65 % |
| SHISEIDO | 1.65 % |
| ASML HOLDING NV | 1.61 % |
| BANK OF NOVA SCOTIA | 1.60 % |
| EXPERIAN GROUP LTD | 1.60 % |
| SHOPPERS DRUG MART INC | 1.59 % |
| NINTENDO | 1.58 % |
| RITCHIE BROS. AUCTIONEERS | 1.57 % |
| GRUPO TELEV-CPO | 1.56 % |
| ZTE CORPORATION | 1.55 % |
| AUTONOMY CORP | 1.54 % |
| CSL LIMITED | 1.54 % |
| ASTRAZENECA | 1.53 % |
| BANCO ITAU HOLDING | 1.52 % |
| CANADIAN NAT'L RAILWAY | 1.52 % |
| ALSTOM | 1.51 % |
| STMICROELECTRONI (FP) | 1.49 % |
| NOVARTIS, REGISTERED | 1.44 % |
| IND & COMM BANK OF CHINA | 1.42 % |
| INTESA SANPAOLO | 1.41 % |
| MITSUI FUDOSAN | 1.37 % |
| MATSUSHITA ELECTRIC INDUS | 1.36 % |
| WACKER CHEMIE AG | 1.34 % |
| DEUTSCHE BOERSE AG | 1.32 % |
| UBS AG - REGISTERED | 1.32 % |
| VESTAS WIND SYSTEMS | 1.23 % |
| BG GROUP | 1.20 % |
| INDITEX | 1.18 % |
| NEW ORIENTAL EDU SP ADR | 1.16 % |
| FAST RETAILING CO | 1.11 % |
| CHINA MOBILE | 1.11 % |
| TUI TRAVEL PLC | 1.04 % |
| SIEMENS AG | 1.03 % |
| SSL INTERNATIONAL PLC | 1.02 % |
| CADBURY PLC | 0.90 % |
| REXAM | 0.89 % |
| WOOLWORTHS LTD. | 0.84 % |
† Based on Market Value
These holdings are not recommendations and we may no longer hold these securities.