Froley, Revy Convertible Bond Index Reports May 2003 Total Return of 4.96% -- Revised.Business Editors LOS ANGELES--(BUSINESS WIRE)--June 18, 2003 The Froley, Revy Convertible Bond Index, one of the oldest continuous measurements of U.S. convertible bond performance and an industry benchmark for more than two decades, reported a total return of 4.96% for the month ended May 31, 2003. Convertible bond prices were up 4.67% during the month. Year to date, as of May 31, 2003, the index returned 7.03%, with convertible bond prices up 5.40% for the same period. Current yield for the Index equaled 3.35% at May 31, 2003. The Froley, Revy Convertible Bond Index(a) tracks price performance of 50 representative convertible issues, with coupon interest reinvested to create a long-term, compounded total return. Historical performance tables for the Index may be obtained by calling Sandra Herrera at 310/208-4938. Froley, Revy Investment Company, Inc., an investment management and advisory firm established in 1975, manages assets of more than $2.5 billion, primarily for public pension funds, corporate pension and profit-sharing plans, insurance companies and Taft-Hartley pension plans. Froley, Revy serves as Investment Advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and to the Froley Revy Convertible Securities Fund (FRCVX), a publicly available, open-end mutual fund, which is distributed by PFPC PFPC Professional Financial Planning Course (Canadian Securities Institute) Distributors, Inc. To obtain a prospectus with more complete information, including charges and expenses, please call 1-866-TWFUNDS. Read it carefully before investing. Froley, Revy operates independently as a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of First Republic Bank (NYSE NYSE See: New York Stock Exchange :FRC FRC abbr. functional residual capacity FRC see functional residual capacity. ). First Republic Bank is a NYSE traded commercial bank and wealth management firm. The Bank specializes in providing personalized relationship-based wealth management services, including private banking investment management, trust, brokerage and real estate lending. First Republic provides its full services online and through branch offices in six major metropolitan areas: San Francisco and Silicon Valley, the Greater Los Angeles area The Greater Los Angeles Area, or the Southland, is the agglomeration of urbanized area around the city of Los Angeles, California, United States. There are two "official" definitions—the Los Angeles metropolitan area consisting only of the Los Angeles and Orange , San Diego, Santa Barbara, Las Vegas and New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . More information is available on the Bank's website at http://www.firstrepublic.com. (a) The Froley, Revy Convertible Bond Index is an unmanaged index and, unlike a mutual fund, the performance of an index assumes no transaction costs, taxes, management fees or other expenses. A direct investment in an index is not possible. |
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