River City Partnership                    01/19/04

                           Valuation Statement as of December 15, 2003

 

                              FIRST BUY    SHARES     COST             PRICE PER    TOTAL  PERCENT  TOTAL  COMPOUND

                              OR VALUATN   OWNED      PER        TOTAL   SHARE      VALUE     OF    RETURN  ANN. RET.

           SECURITY    TS DRP    DATE    THIS DATE   SHARE       COST  THIS DATE  THIS DATE  TOTAL  SINCE 01/01/03

      =============================================================================================================

      Cardinal Health     CAH  01/01/03    15.000   58.2407     873.61   63.5400     953.10   9.3%   7.54%    7.93%

      Coca-Cola            KO  01/01/03    40.000   49.3185    1972.74   49.7900    1991.60  19.4%  15.69%   16.53%

      Coor's B            RKY  01/01/03    20.000   55.1945    1103.89   57.1000    1142.00  11.1%   1.69%    1.77%

      Ethan Allen         ETH  01/01/03    20.000   36.0600     721.20   41.2200     824.40   8.0%  20.86%   22.00%

      General Dynamics     GD  03/04/03     5.000   62.1980     310.99   84.3200     421.60   4.1%  37.35%   49.98%

      Johnson and John    JNJ  08/07/03    10.000   51.1190     511.19   49.4600     494.60   4.8%  -2.32%   -6.37%

      Kohl's              KSS  10/03/03    10.000   55.2690     552.69   43.3000     433.00   4.2% -21.66%  -70.51%

      Lowes               LOW  08/07/03    10.000   46.8090     468.09   54.1800     541.80   5.3%  15.81%   51.06%

      Starbuck's Cofee   SBUX  01/01/03    40.000   23.5900     943.60   31.5200    1260.80  12.3%  54.66%   58.04%

      Tribune             TRB  01/01/03    30.000   39.0750    1172.25   48.6000    1458.00  14.2%   7.91%    8.31%

                                                            ----------           ---------- ------

      Total Securities this Date                               8630.25              9520.90  92.8% ------   ------

      Returns for Securities Shown from First Buy or Valuation Date                                 15.61%   16.44%

      Security Returns from Start or Switchover to this Date                                        14.11%   14.86%

                                                                                                                       

      Cash on Hand - Bank                                       610.00               610.00   5.9%

      Cash on Hand - Broker                                     123.18               123.18   1.2%

      Cash on Hand - Suspense                                     0.00                 0.00   0.0%

                                                            ----------           ---------- ------

      Total Cash Accounts this Date                             733.18               733.18   7.2%

                                                            ----------           ---------- ------

      Total Securities and Cash Accounts This Date             9363.43             10254.08 100.0%

                                                                                                                       

      Petty Cash                                         $     0.00

      Total number of Valuation Units to Date               13237.398864

      Value of Each Unit This Date                       $     0.775

      Number of Units Each $ 1.00 will Purchase                1.291

                                           River City Partnership                    01/19/04

                                Members Status Report as of December 15, 2003

 

                          PAID IN     TOTAL    PAID IN      UNITS                                    TOTAL COMPOUND

                           SINCE     PAID IN     PLUS       SINCE       UNITS       CURRENT PERCENT  RETURN ANN RET

      NO.       NAME      11/14/03   TO DATE   EARNINGS    11/14/03     OWNED        VALUE  OWNRSHP  SINCE 01/01/03

      =============================================================================================================

       1 Gunderson, Bret     0.00    1310.00    1240.18    0.000000  1527.657962    1183.37  11.54%  10.73%  11.29%

       2 Hill, Clay & Ja    50.00    1545.00    1472.24   63.751000  1908.933726    1478.72  14.42%  11.67%  12.28%

       3 Hipsher, Craig     50.00    1565.00    1490.05   63.751000  1864.324132    1444.16  14.08%  11.68%  12.30%

       4 Nichols, Jim &     64.00    1309.00    1262.92   63.751000  1657.739728    1284.13  12.52%  10.45%  11.00%

       5 O'Hara, Thomas     50.00    1885.00    1798.76   63.751000  2250.439379    1743.26  17.00%  11.55%  12.16%

       6 Roberts, Stuart    55.00     155.00     155.00   63.708887   172.742678     133.81   1.30% -25.41% -58.43%

       7 Schaffer, Bill     50.00    1520.00    1450.63   63.751000  1844.643292    1428.92  13.94%  11.69%  12.31%

       8 Schaffer, Conni    50.00    1520.00    1450.64   63.751000  1844.643292    1428.92  13.94%  11.69%  12.31%

       9 White, Carol       50.00     145.00     145.00   63.751000   166.274675     128.80   1.26% -19.29% -47.36%

                       --------- ---------- ----------  ----------  ----------- ---------- -------  ------  ------

         TOTALS            419.00   10954.00   10465.42  509.965887 13237.398864   10254.08 100.00%  -12.39   -3.29