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TOWN OF LEXINGTON <br />TRUSTEES OF PUBLIC TRUSTS <br />Minutes of Meeting <br />January 29, 2003 <br />A meeting of the Trustees was held at 12 noon at the office of State Street Global <br />Advisors at 225 Franklin Street, Boston. Present were Alan Fields, David Williams, <br />Thomas Taylor, Karen Jackman, David Ely and other personnel from SSGA.. <br />After a review of portfolio performance and investment strategies, the following actions <br />were taken: <br />In the Westview Cemetery Fund, we will sell all bonds yielding less than 2% to <br />maturity and having maturities prior to 04. The captured premium will be invested in <br />equities other than the financial sector and the face amount will be invested in bonds with <br />longer maturities. <br />In the Endowment Fund, we will increase the equity position to 30 %. The current <br />cash position ( which is 37% of the portfolio) will be invested 10% in equities, 10% in A <br />rated preferred stock, 10% in 2 year bonds and 7% in cash. <br />The next meeting will be Tuesday, April 29, 2003 at 64 Marrett Road, Lexington, <br />Tom Taylor, Secy. <br />