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TOWN OF LEXINGTON <br />TRUSTEES OF PUBLIC TRUSTS <br />Minutes of Meeting <br />October 19, 2006 <br />The meeting was held at the offices of Atlantic Trust at 100 Federal Street, Boston, MA. Present <br />were Trustees Alan Fields and David Williams, and David Ely and Dennis Dywer from SSGA. <br />The minutes of the July 13, 2006 meeting were approved. <br />As of 9/30/06 cash was high but has been drawn down. <br />Year to date the Endowmant fund is up 5.7% versus 5.29 for the benchmark. <br />It was noted that we will have more income this year and that large cap stocks will do very well. <br />It was voted to reduce the fixed income portfolio to 20% and to increase large cap equity to 25% <br />and international equity to 15 %. <br />It was noted that by moving the equity portion of the cemetery funds to the legal list an excellent <br />gain was made. <br />David Williams, Secretary <br />