THE LYNDE AND HARRY BRADLEY FOUNDATION, INC.

A Retrospective Review of Investment Managers'

Previous Market Predictions

In past years the Foundation has requested the investment managers to predict future market levels. I thought it would be interesting to review some of the 1994 predictions made by the managers as to the June 30, 1995 level of certain indexes. This summary follows:

Dow	S&P

Jones	500	NASDAQ

Actual at June 30, 1995	4556	545	933

Investment manager

predictions as to

June 30, 1995 level:

TCW (1/94)	4350	525	960

Capital Guardian (1/94)	4400***	535***	910***

Morgan Stanley (4/94)	4000	514	847

Fayez (4/94)	4200	525	N/A

Provident (8/94)	3800	475	760

National Investment (8/94)	4100	500	785

*** Prediction closest to actual

Conclusion:	If you're interested in future predictions, contact Capital Guardian