EXTERNAL MANAGER FEES REPORT

External Domestic Equity Managers	Net Assets Managed at Fair Value	Fees (Dollars in Thousands)
Alliance Cap Mgt, L.P./Sanford C. Bernstein SW5I	427,762	$730
Analytic Investors SWFJ	545,974	1,199
Atlantic Asset Management Partners SWAN	292,906	159
Axa Rosenberg SWDB	133,162	214
Barclays Global Advisers SWCN	0	795
Denali Advisors, LLC SW4S, SWGJ	85,147	746
Enhanced Investment Technologies SWAY	459,463	860
FIS Group SWGY	0	112
Franklin Portfolio Associates SWAX	0	709
Geewax, Terker & Co. SW2B	0	441
Golden Capital Management SWFA	464,920	745
Goldman Sachs Small CAP SWAW	0	405
GSAM LP (SW8H) SJ10	0	159
International Fund Services UBS SW90 SWAG	23,057	1,674
Jacobs Levy Equity Management SWEP	0	523
Leading Edge Investment Advisors SWHU	0	354
Legato Capital Management Investments SWCY, SWCZ	0	447
LM Capital Investments SW4X	205,187	360
Marvin & Palmer Associates SWEO	734,999	593
New Amsterdam Partners SWDA	79,170	125
Pacific Alternative Asset Management Co. SWAB	0	100
Piedmont Investment Advisors SWFB	3,208	376
Progress Putnam Lovell Ventures SW4B	0	46
Progress Putnam Lovell SW4A	0	1,328
Pzena Investment Mgrs, LLC SW5F	397,384	1,402
Quantitative Management Associates SWFN	606,076	844
Redwood Investments SWHN	226,501	334
Relational Investors SW2R	706,077	3,326
Research Affiliates, LLC SWDS, SWEU, SWFX	967,032	1,204
Rigel Capital LLC-Large Cap SW9U	213,211	1,088
Shenandoah Asset Management SW4N	153,394	582
Smith Asset Management Group Large Cap SW9X	170,152	624
Smith Asset Management Group Small Cap SW9Y	59,004	250
Smith Breeden Associates SWAS	369,582	310
State Street Global Advisors SWDE, SWF0	78,141	910
Strategic Investments SW4G, SW4H, SWDJ	0	2,105
Stux Investment SWAH	258,489	1,393
T. Rowe Price SWB8	483,746	1,793
The Boston Company Asset Management, LLC. SW2E	494,293	668
Turner Investment Partnes, Inc SWD8, SWEQ	782,898	686
UBS Alternative and Quantitative Inv. SWAG	5,434,584	23,118
Western Asset Management Company SWAZ	464,225	178

Total External Domestic Equity Managers

$54,015

External Domestic Fixed Income Managers	Net Assets Managed at Fair Value	Fees (Dollars in Thousands)
Highland Capital Distressed, L.P. SW8F	13,921	$808
Nomura Corporate Research & Asset Mgt. SW7Y	336,926	1,476
Pacific Investment Mgmt Co., LLC. SW7W	312,010	1,296

Total External Domestic Fixed Income Managers

$3,580

 

Global Equity Managers	Net Assets Managed at Fair Value	Fees (Dollars in Thousands)
Acadian Asset Management SWCJ	971,251	$1,172
Alliance Bernstein Institutional Inv. SW8N, SWCA, SWCD	3,987,281	2,637
AQR Capital Management, LLC SWCO	485,083	1,773
Arrowstreet Capital, L.P. SW4D, SW6M	1,231,791	1,961
Axa Rosenberg SW5L	799,085	547
Baillie Gifford Overseas Limited SW6N	1,053,198	1,501
Barclays Global Investors SW9J	3,455	1,486
Baring International Investment, Limited SW9I	96	617
Batterymarch Financial Management SWFH	572,255	2,191
Brandywine Global Investment Management SWDH	78,245	136
Capital Guardian SW5M	129	294
Dimensional Fund Advisors SW7I	1,306,393	3,550
Genesis Asset Managers SW8O	1,353,043	2,736
Grantham, Mayo, Van Otterloo, & Co, LLC SW6J	741,019	740
Lazard Asset Management SWFE, SWJN	687,900	1,333
New Star Institutional Managers LTD SWCB	662,211	553
Nomura Asset Management U.S.A., Inc. SJ25	472,491	1,170
Northroad Capital Investments SWAD	1	577
Pareto Partners (Currency Forwards) SJ70	(49,566)	2,076
Pictet Asset Management SWFG	560,180	1,106
Pyrford Investments SW4V	96,943	777
Quantitative Management Associates, LLC SWCP	174,322	989
Research Affiliates, LLC SWEU, SWFX	1,014,871	320
Robeco USA, LLC SW6E	307	395
State Street Global Advisors SW1D, SWDG	162,161	1,313
Strategic Investment Management SWDJ, SWFP		730

Total Global Equity Managers

$32,680

Global Fixed Income Managers	Net Assets Managed at Fair Value	Fees (Dollars in Thousands)
Alliance Bernstein LP SWEY	1,260,311	$871
Baring Asset Management SJ28	132,712	68
Mondrian Investment Partners Ltd SWEW	903,914	168
Pacific Investment Management Co. SWEX	1,241,453	614
Rogge Global Partners SW5B	1,184,234	1,095
Western Asset Global Management SW5E	2,666	460

Total Global Fixed Income Managers

$3,276

Inflation Linked Asset Managers	Net Assets Managed at Fair Value	Fees (Dollars in Thousands)
Alinda Infrastrucure SWGM	74,495	$2,109
Carlyle Infrastructure Partner SWGM	24,006	4,511
CIM Infrastructure Fund SWGM	(968)	2,547
Timber International - Ubs (Sylvanus) SWGL	186,223	1,247
Timberland (Lincoln) Timber Co. SWGL	1,424,979	4,456

Total Inflation Linked Asset Managers		$14,870
Total External Securities Management Fees & Other Fees		$ 108,421

External Securities Management Performance Fees:

External Domestic Equity Managers		Fees (Dollars in Thousands)
Alliance Bernstein SW5I		$396
Analytic Investors SWFJ		567
Boston Company SW2E		6,050
Enhanced Investment technologies SWAY		45
Geewax, Terker & Co. SW2B		554
Golden Capital Management SWFA		1,544
Marvin Palmer Associates SWE0		2,620
Progress Putnam Lovell SW4A		665
Quantitative Management Associates SWAU		808
State Street Global Advisors SWDE		64
Strategic Investments SW4G		1,235
Turner Investment Partners SWEQ		2,759

Total External Domestic Equity Managers

$17,307

Global Equity Managers		Fees (Dollars in Thousands)
Acadian Asset Management SWCJ		$2,301
Alliance Bernstein Institutional Inv. SW8N, SWCA		17,247
Alliance Bernstein LP SWCA
Arrowstreet SW6M		636
Baille Gifford SW6N		9,141
Baring Asset Management SW9I		978
Nomura Asset Management SJ25		109
Quantatative Management Associates SWCP		138
State Street Global Advisors SWDG		880

Total Global Equity Managers

$31,430

Global Fixed Income Managers		Fees (Dollars in Thousands)
Alliance Bernstein SWEY		$140
Brandywine Global Investment Management SWEV		436

Total Global Fixed Income Managers		$576
Total External Securities Management Performance Fees		$49,313
Total External Securities Management Fees, Performance Fees, & Other Fees		$157,734