Change in Share Price of Selected U.S. Blue-Chip Stocks¹

(in U.S. dollars)

Company Starting price January 2004 Closing price year-end 2004 Percent change

General Electric Co. 30.98 36.50 17.82

ExxonMobil Corp. 41.00 51.26 25.02

Microsoft Corp. 27.37 26.72 -2.37

Citigroup, Inc. 48.54 48.18 -0.74

Wal-Mart Stores, Inc. 53.05 52.82 -0.43

Pfizer, Inc. 35.33 26.89 -23.89

Johnson & Johnson 51.66 63.42 22.76

American International Group, Inc. 66.28 65.67 -0.92

International Business Machines Corp. 92.68 98.58 6.37

Intel Corp. 32.05 23.39 -27.02

Procter & Gamble Co.² 49.50 55.08 11.27

J.P. Morgan Chase & Co. 36.73 39.01 6.21

Altria Group, Inc. 54.42 61.10 12.27

Verizon Communications, Inc. 35.08 40.51 15.48

Coca-Cola Co. 50.75 41.64 -17.95

Home Depot, Inc. 35.49 42.74 20.43

SBC Communications, Inc. 26.07 25.77 -1.15

American Express Co. 48.23 56.37 16.88

Merck & Co., Inc. 46.20 32.14 -30.43

3M Co. 85.03 82.07 -3.48

● ¹In order of market capitalization as of Dec. 31, 2004.

● ²Price adjusted for a two-for-one stock split in 2004.