The fixed-income strategy of THE TRUST COMPANY encompasses the following:

• RATE ANTICIPATION

• SECTOR ANALYSIS

• INTERMEDIATE-TERM MATURITIES

• EMPHASIS ON HIGH CURRENT INCOME

We invest in intermediate-term U. S. Treasury, government and investment-grade corporate obligations. Over time, this strategy should outperform the market in two out of three scenarios: when interest rates are rising because of shorter maturities with the ability to capture higher income, and when interest rates are stable due to higher levels of current income. Our fixed-income strategy remains competitive even during periods of falling interest rates.