River City Partnership Tax I.D. 47-0822299 01/02/06

Distribution of Earnings from January 1, 2005 to December 31, 2005

FEDERAL SHORT TERM MID TRM LONG TRM MISC. FOREIGN VALUATION

TAXABLE TAX FREE CAPITAL CAPITAL CAPITAL INCOME/ TAXES NET UNITS

NO. NAME DIVIDENDS INTEREST INTEREST GAINS GAINS GAINS EXPENSE PAID PROFIT PURCHASED

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

TOTAL INCOME 127.31 0.00 0.00 0.00 0.00 42.06 -202.17 0.00 -32.80

INCOME DISTRIBUTION

1 Clay & Jackie Hil 23.51 0.00 0.00 0.00 0.00 7.77 -37.35 0.00 -6.07 -5.25

2 Jim & Mary Nichol 21.26 0.00 0.00 0.00 0.00 7.02 -33.76 0.00 -5.48 -4.75

3 Thomas O'Hara 26.84 0.00 0.00 0.00 0.00 8.87 -42.61 0.00 -6.90 -5.99

4 Bill Schaffer 22.94 0.00 0.00 0.00 0.00 7.58 -36.43 0.00 -5.91 -5.12

5 Connie Schaffer 22.94 0.00 0.00 0.00 0.00 7.58 -36.43 0.00 -5.91 -5.12

6 Patrick Schaffer 9.82 0.00 0.00 0.00 0.00 3.24 -15.59 0.00 -2.53 -2.19

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

TOTAL DISTRIBUTED 127.31 0.00 0.00 0.00 0.00 42.06 -202.17 0.00 -32.80 -28.43

PER UNIT 0.0116 0.0000 0.0000 0.0000 0.0000 0.0038 -0.0185 0.0000 -0.0030

Value of Unit before distribution 1.15

Value of Unit after distribution 1.16

River City Partnership 01/02/06

INCOME AND EXPENSE STATEMENT FOR January 1, 2005 to December 31, 2005

INCOME

Dividends 127.31

Interest 0.00

Short term Cap. Gain 0.00

Mid term Cap. Gain 0.00

Long term Cap. Gain 42.06

Miscellaneous Income 0.51

----------

Total Income 169.88

EXPENSES

Expenses 202.68

----------

Net Profit -32.80

==========

BALANCE SHEET AS OF December 31, 2005

After End of Period Distribution

ASSETS

Cash - Bank 473.01

Cash - Broker 257.98

----------

Total Cash 730.99

Investments 10947.99

----------

Total Assets 11678.98

==========

EQUITIES

Capital Account - Members 10222.28

Unrlzd Gains + Undist Erns 1456.70

----------

Total Equities 11678.98

==========

River City Partnership 01/02/06

Transactions Summary for the Period January 1, 2005 to December 31, 2005

BUY, SELL AND TRANSFER TRANSACTIONS

Date Security Name Type Shares Cost Price Comm/Fees LTCG MTCG STCG

02/10/05 Coor's B-Molsons Sell 20.000000 1103.89 1400.00 11.04 285.07

03/03/05 Coor's B-Molsons Buy 15.000000 1051.39 1051.39

03/03/05 Proctor & Gamble Buy 15.000000 810.34 810.34

03/03/05 Hershey's Buy 15.000000 954.04 954.04

05/02/05 Kohl's Sell 10.000000 552.69 455.19 -97.50

05/02/05 Tribune Sell 30.000000 1172.25 1131.96 -40.29

07/18/05 Bershire B Stock Buy 1.000000 2800.88 2800.88

09/02/05 Ethan Allen Sell 20.000000 721.20 615.98 -105.22

09/02/05 Wells Fargo Buy 10.000000 606.09 606.09

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

Totals 42.06 0.00 0.00

CASH AND REINVESTED DISTRIBUTIONS

Date Security Name Type Shares Dividends Interest LTCG MTCG STCG Fees/FTax

01/18/05 Cardinal Health Div-Cash 0.45

01/25/05 Ethan Allen Div-Cash 3.00

01/28/05 Lowes Div-Cash 0.60

02/04/05 General Dynamics Div-Cash 1.80

03/08/05 Johnson and Johnson Div-Cash 5.70

03/10/05 Tribune Div-Cash 5.40

03/14/05 Walgreens Div-Cash 1.31

04/01/05 Coca-Cola Div-Cash 5.32

04/15/05 Cardinal Health Div-Cash 0.45

04/25/05 Ethan Allen Div-Cash 3.00

04/29/05 Lowes Div-Cash 0.60

05/06/05 General Dynamics Div-Cash 2.00

05/16/05 Proctor & Gamble Div-Cash 4.20

06/07/05 Johnson and Johnson Div-Cash 6.60

06/13/05 Walgreens Div-Cash 1.31

06/15/05 Hershey's Div-Cash 3.30

06/15/05 Coor's B-Molsons Div-Cash 4.80

07/01/05 Coca-Cola Div-Cash 5.32

07/15/05 Cardinal Health Div-Cash 0.90

07/25/05 Ethan Allen Div-Cash 3.00

07/29/05 Lowes Div-Cash 0.90

08/05/05 General Dynamics Div-Cash 2.00

08/15/05 Proctor & Gamble Div-Cash 4.20

09/12/05 Walgreens Div-Cash 1.63

09/13/05 Johnson and Johnson Div-Cash 6.60

09/15/05 Hershey's Div-Cash 3.68

09/15/05 Coor's B-Molsons Div-Cash 4.80

10/03/05 Coca-Cola Div-Cash 5.32

10/17/05 Cardinal Health Div-Cash 0.90

10/28/05 Lowes Div-Cash 0.90

11/10/05 General Dynamics Div-Cash 2.00

11/15/05 Proctor & Gamble Div-Cash 4.20

12/01/05 Wells Fargo Div-Cash 5.20

12/12/05 Walgreens Div-Cash 1.63

12/13/05 Johnson and Johnson Div-Cash 6.60

12/15/05 Coor's B-Molsons Div-Cash 4.80

12/15/05 Coca-Cola Div-Cash 5.32

12/15/05 Hershey's Div-Cash 3.68

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

Totals 123.42 0.00 0.00 0.00 0.00 0.00

STOCK DIVIDENDS, SPINOFFS AND MERGERS

Date Security Name Type Shares Cash LTCG MTCG STCG

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

Totals 0.00 0.00 0.00 0.00

MEMBER DEPOSITS AND WITHDRAWALS

Date Description Cash Amount Units WD Fee Stk Val Trsfr

01/15/05 6 member payments 150.00 130.028070

02/15/05 5 member payments 125.00 107.063180

02/16/05 member payment 25.00 21.969274

03/15/05 6 member payments 150.00 131.939070

04/15/05 6 member payments 150.00 134.665314

05/15/05 6 member payments 150.00 136.513680

06/15/05 6 member payments 150.00 134.413410

06/30/05 6 member payments 150.00 134.413410

07/01/05 member payment 25.00 22.402235

08/15/05 6 member payments 150.00 132.774534

09/15/05 6 member payments 150.00 133.720230

10/15/05 6 member payments 150.00 135.295206

11/15/05 5 member payments 125.00 110.155795

12/15/05 6 member payments 175.00 153.326123

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

Totals 1825.00 1618.68 0.00 0.00

CASH INCOME AND EXPENSES

Date Source Account Income Expense Interest Dividends

01/01/05 Unknown credit (roundi Broker 0.49

02/20/05 #2027 NAIC Dues Bank -40.00

02/25/05 Reserve Fund Dividend Broker 1.29

03/03/05 Reserve Fund dividend Broker 0.30

04/01/05 Rounding correction (e Broker -0.69

06/30/05 Payment for tax prepar Bank -25.00

07/05/05 Free balance interest Broker 0.02

07/21/05 Reserve fund dividend Broker 2.30

12/08/05 #2031 to C.Shaffer (re Bank -136.99

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

Totals 0.51 -202.68 0.00 3.89

River City Partnership 01/02/06

Valuation Statement as of December 31, 2005

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 01/01/05

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

Bershire B Stock BRKB 07/18/05 1.000 2800.8800 2800.88 2935.5000 2935.50 23.2% 4.81% 10.88%

Cardinal Health CAH 01/01/05 15.000 58.2407 873.61 68.7500 1031.25 8.1% 18.57% 18.64%

Coca-Cola KO 01/01/05 19.000 46.2784 879.29 40.3100 765.89 6.0% -0.51% -0.51%

Coor's B-Molsons TAP 01/01/05 15.000 70.0927 1051.39 66.9900 1004.85 7.9% -14.47% -14.51%

General Dynamics GD 01/01/05 5.000 62.1980 310.99 114.0500 570.25 4.5% 10.61% 10.64%

Hershey's HSY 03/03/05 15.000 63.6027 954.04 55.2500 828.75 6.5% -12.06% -14.35%

Johnson and John JNJ 01/01/05 20.000 50.3295 1006.59 60.1000 1202.00 9.5% -3.25% -3.26%

Lowes LOW 01/01/05 15.000 48.5027 727.54 66.6600 999.90 7.9% 16.12% 16.18%

Proctor & Gamble PG 03/03/05 15.000 54.0227 810.34 57.8800 868.20 6.9% 8.76% 10.65%

Walgreens WAG 01/01/05 25.000 37.0892 927.23 44.2600 1106.50 8.7% 16.00% 16.06%

Wells Fargo WFC 09/02/05 10.000 60.6090 606.09 62.8300 628.30 5.0% 4.53% 14.44%

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

Total Securities this Date 10947.99 11941.39 94.2% ------ ------

Returns for Securities Shown from First Buy or Valuation Date 4.44% 4.46%

Security Returns from Start or Switchover to this Date 0.71% 0.71%

Cash on Hand - Bank 473.01 473.01 3.7%

Cash on Hand - Broker 257.98 257.98 2.0%

Cash on Hand - Suspense 0.00 0.00 0.0%

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

Total Cash Accounts this Date 730.99 730.99 5.8%

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

Total Securities and Cash Accounts This Date 11678.98 12672.38 100.0%

Petty Cash $ 0.00

Total number of Valuation Units to Date 10954.501330

Value of Each Unit This Date $ 1.157

Number of Units Each $ 1.00 will Purchase 0.864

River City Partnership 01/02/06

Members Status Report as of December 31, 2005

PAID IN TOTAL PAID IN UNITS TOTAL COMPOUND

SINCE PAID IN PLUS SINCE UNITS CURRENT PERCENT RETURN ANN RET

NO. NAME 01/01/05 TO DATE EARNINGS 01/01/05 OWNED VALUE OWNRSHP SINCE 01/01/05

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

1 Hill, Clay & Ja 300.00 2145.00 1838.98 260.723996 2023.367436 2340.67 18.47% -1.00% -1.00%

2 Nichols, Jim & 300.00 1909.00 1665.36 261.227389 1829.383522 2116.27 16.70% -0.95% -0.96%

3 O'Hara, Thomas 325.00 2510.00 2141.96 282.384607 2309.154641 2671.27 21.08% -1.01% -1.02%

4 Schaffer, Bill 300.00 2120.00 1826.50 260.852695 1973.772761 2283.30 18.02% -0.99% -0.99%

5 Schaffer, Conni 300.00 2120.00 1826.50 260.852695 1973.772761 2283.30 18.02% -0.99% -0.99%

6 Schaffer, Patri 300.00 925.00 999.77 264.210966 845.050209 977.57 7.71% -0.26% -0.27%

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

TOTALS 1825.00 11729.00 10299.07 1590.252348 10954.501330 12672.38 100.00% 22.39 3.42

River City Partnership 01/02/06

Cash Journal Listing from January 1, 2005 to December 31, 2005

AMOUNT BALANCE

DATE RECEIPTS EXPENDITURES BANK BROKER SUSPENSE TYPE DESCRIPTION

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

01/01/05 380.06 1231.44 0.00 BEGINNING BALANCE

01/01/05 0.49 380.06 1231.93 0.00 Income Unknown credit (rounding

01/15/05 150.00 530.06 1231.93 0.00 Payment Payments for 6 members

01/18/05 0.45 530.06 1232.38 0.00 Div-Cash Cardinal Health

01/25/05 3.00 530.06 1235.38 0.00 Div-Cash Ethan Allen

01/28/05 0.60 530.06 1235.98 0.00 Div-Cash Lowes

02/04/05 1.80 530.06 1237.78 0.00 Div-Cash General Dynamics

02/10/05 1388.96 530.06 2626.74 0.00 Sell Coor's B-Molsons

02/15/05 125.00 655.06 2626.74 0.00 Payment Payments for 5 members

02/16/05 25.00 680.06 2626.74 0.00 Payment Schaffer, Patrick

02/20/05 40.00 640.06 2626.74 0.00 Expense #2027 NAIC Dues

02/25/05 1.29 640.06 2628.03 0.00 Dividend Reserve Fund Dividend

02/28/05 400.00 640.06 3028.03 0.00 Trsfr To #2028

02/28/05 400.00 240.06 3028.03 0.00 Trsfr From #2028

03/03/05 1051.39 240.06 1976.64 0.00 Buy Coor's B-Molsons

03/03/05 810.34 240.06 1166.30 0.00 Buy Proctor & Gamble

03/03/05 954.04 240.06 212.26 0.00 Buy Hershey's

03/03/05 0.30 240.06 212.56 0.00 Dividend Reserve Fund dividend

03/08/05 5.70 240.06 218.26 0.00 Div-Cash Johnson and Johnson

03/10/05 5.40 240.06 223.66 0.00 Div-Cash Tribune

03/14/05 1.31 240.06 224.97 0.00 Div-Cash Walgreens

03/15/05 150.00 390.06 224.97 0.00 Payment Payments for 6 members

04/01/05 0.69 390.06 224.28 0.00 Expense Rounding correction (exp

04/01/05 5.32 390.06 229.60 0.00 Div-Cash Coca-Cola

04/15/05 150.00 540.06 229.60 0.00 Payment Payments for 6 members

04/15/05 0.45 540.06 230.05 0.00 Div-Cash Cardinal Health

04/25/05 3.00 540.06 233.05 0.00 Div-Cash Ethan Allen

04/29/05 0.60 540.06 233.65 0.00 Div-Cash Lowes

05/02/05 455.19 540.06 688.84 0.00 Sell Kohl's

05/02/05 1131.96 540.06 1820.80 0.00 Sell Tribune

05/06/05 2.00 540.06 1822.80 0.00 Div-Cash General Dynamics

05/15/05 150.00 690.06 1822.80 0.00 Payment Payments for 6 members

05/16/05 4.20 690.06 1827.00 0.00 Div-Cash Proctor & Gamble

06/07/05 6.60 690.06 1833.60 0.00 Div-Cash Johnson and Johnson

06/13/05 1.31 690.06 1834.91 0.00 Div-Cash Walgreens

06/15/05 150.00 840.06 1834.91 0.00 Payment Payments for 6 members

06/15/05 3.30 840.06 1838.21 0.00 Div-Cash Hershey's

06/15/05 4.80 840.06 1843.01 0.00 Div-Cash Coor's B-Molsons

06/30/05 150.00 990.06 1843.01 0.00 Payment Payments for 6 members

06/30/05 25.00 965.06 1843.01 0.00 Expense Payment for tax preparat

07/01/05 25.00 990.06 1843.01 0.00 Payment O'Hara, Thomas

07/01/05 5.32 990.06 1848.33 0.00 Div-Cash Coca-Cola

07/03/05 950.06 990.06 2798.39 0.00 Trsfr To #2030

07/03/05 950.06 40.00 2798.39 0.00 Trsfr From #2030

07/05/05 0.02 40.00 2798.41 0.00 Income Free balance interest ad

07/15/05 0.90 40.00 2799.31 0.00 Div-Cash Cardinal Health

07/18/05 2800.88 40.00 -1.57 0.00 Buy Bershire B Stock

07/21/05 2.30 40.00 0.73 0.00 Dividend Reserve fund dividend

07/25/05 3.00 40.00 3.73 0.00 Div-Cash Ethan Allen

07/29/05 0.90 40.00 4.63 0.00 Div-Cash Lowes

08/05/05 2.00 40.00 6.63 0.00 Div-Cash General Dynamics

08/15/05 150.00 190.00 6.63 0.00 Payment Payments for 6 members

08/15/05 4.20 190.00 10.83 0.00 Div-Cash Proctor & Gamble

09/02/05 615.98 190.00 626.81 0.00 Sell Ethan Allen

09/02/05 606.09 190.00 20.72 0.00 Buy Wells Fargo

09/12/05 1.63 190.00 22.35 0.00 Div-Cash Walgreens

09/13/05 6.60 190.00 28.95 0.00 Div-Cash Johnson and Johnson

09/15/05 3.68 190.00 32.63 0.00 Div-Cash Hershey's

09/15/05 4.80 190.00 37.43 0.00 Div-Cash Coor's B-Molsons

09/15/05 150.00 340.00 37.43 0.00 Payment Payments for 6 members

10/03/05 5.32 340.00 42.75 0.00 Div-Cash Coca-Cola

10/15/05 150.00 490.00 42.75 0.00 Payment Payments for 6 members

10/17/05 180.00 490.00 222.75 0.00 Trsfr To xsfer Comfed to AMTD

10/17/05 180.00 310.00 222.75 0.00 Trsfr From xsfer Comfed to AMTD

10/17/05 0.90 310.00 223.65 0.00 Div-Cash Cardinal Health

10/28/05 0.90 310.00 224.55 0.00 Div-Cash Lowes

11/10/05 2.00 310.00 226.55 0.00 Div-Cash General Dynamics

11/15/05 125.00 435.00 226.55 0.00 Payment Payments for 5 members

11/15/05 4.20 435.00 230.75 0.00 Div-Cash Proctor & Gamble

12/01/05 5.20 435.00 235.95 0.00 Div-Cash Wells Fargo

12/08/05 136.99 298.01 235.95 0.00 Expense #2031 to C.Shaffer (reim

12/12/05 1.63 298.01 237.58 0.00 Div-Cash Walgreens

12/13/05 6.60 298.01 244.18 0.00 Div-Cash Johnson and Johnson

12/15/05 175.00 473.01 244.18 0.00 Payment Payments for 6 members

12/15/05 4.80 473.01 248.98 0.00 Div-Cash Coor's B-Molsons

12/15/05 5.32 473.01 254.30 0.00 Div-Cash Coca-Cola

12/15/05 3.68 473.01 257.98 0.00 Div-Cash Hershey's

River City Partnership 01/02/06

Complete Journal/Ledger Listing from January 1, 2005 to December 31, 2005

PAID IN DIVIDENDS MISCELLANEOUS GAIN UNREALIZED

DATE TYPE DESCRIPTION CASH INVESTMENTS BY MEMBERS RECEIVED RECEIVED ON SALES GAINS

DR DR CR CR CR CR CR

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

01/01/05 Beginning Balances 1,611.50 8,275.28 8,430.08 0.00 0.00 0.00 1,456.70

01/01/05 Income Unknown credit (rou 0.49 0.49

01/15/05 Payment 6 member payments 150.00 150.00

01/18/05 Div-Cash Cardinal Health 0.45 0.45

01/25/05 Div-Cash Ethan Allen 3.00 3.00

01/28/05 Div-Cash Lowes 0.60 0.60

02/04/05 Div-Cash General Dynamics 1.80 1.80

02/10/05 Sell Coor's B-Molsons 1,388.96 (1,103.89) 285.07

02/15/05 Payment 5 member payments 125.00 125.00

02/16/05 Payment member payment 25.00 25.00

02/20/05 Expense #2027 NAIC Dues (40.00) (40.00)

02/25/05 Dividend Reserve Fund Divide 1.29 1.29

03/03/05 Buy Coor's B-Molsons (1,051.39) 1,051.39

03/03/05 Buy Proctor & Gamble (810.34) 810.34

03/03/05 Buy Hershey's (954.04) 954.04

03/03/05 Dividend Reserve Fund divide 0.30 0.30

03/08/05 Div-Cash Johnson and Johnson 5.70 5.70

03/10/05 Div-Cash Tribune 5.40 5.40

03/14/05 Div-Cash Walgreens 1.31 1.31

03/15/05 Payment 6 member payments 150.00 150.00

04/01/05 Div-Cash Coca-Cola 5.32 5.32

04/01/05 Expense Rounding correction (0.69) (0.69)

04/15/05 Payment 6 member payments 150.00 150.00

04/15/05 Div-Cash Cardinal Health 0.45 0.45

04/25/05 Div-Cash Ethan Allen 3.00 3.00

04/29/05 Div-Cash Lowes 0.60 0.60

05/02/05 Sell Kohl's 455.19 (552.69) (97.50)

05/02/05 Sell Tribune 1,131.96 (1,172.25) (40.29)

05/06/05 Div-Cash General Dynamics 2.00 2.00

05/15/05 Payment 6 member payments 150.00 150.00

05/16/05 Div-Cash Proctor & Gamble 4.20 4.20

06/07/05 Div-Cash Johnson and Johnson 6.60 6.60

06/13/05 Div-Cash Walgreens 1.31 1.31

06/15/05 Payment 6 member payments 150.00 150.00

06/15/05 Div-Cash Hershey's 3.30 3.30

06/15/05 Div-Cash Coor's B-Molsons 4.80 4.80

06/30/05 Payment 6 member payments 150.00 150.00

06/30/05 Expense Payment for tax pre (25.00) (25.00)

07/01/05 Payment member payment 25.00 25.00

07/01/05 Div-Cash Coca-Cola 5.32 5.32

07/05/05 Income Free balance intere 0.02 0.02

07/15/05 Div-Cash Cardinal Health 0.90 0.90

07/18/05 Buy Bershire B Stock (2,800.88) 2,800.88

07/21/05 Dividend Reserve fund divide 2.30 2.30

07/25/05 Div-Cash Ethan Allen 3.00 3.00

07/29/05 Div-Cash Lowes 0.90 0.90

08/05/05 Div-Cash General Dynamics 2.00 2.00

08/15/05 Payment 6 member payments 150.00 150.00

08/15/05 Div-Cash Proctor & Gamble 4.20 4.20

09/02/05 Sell Ethan Allen 615.98 (721.20) (105.22)

09/02/05 Buy Wells Fargo (606.09) 606.09

09/12/05 Div-Cash Walgreens 1.63 1.63

09/13/05 Div-Cash Johnson and Johnson 6.60 6.60

09/15/05 Payment 6 member payments 150.00 150.00

09/15/05 Div-Cash Hershey's 3.68 3.68

09/15/05 Div-Cash Coor's B-Molsons 4.80 4.80

10/03/05 Div-Cash Coca-Cola 5.32 5.32

10/15/05 Payment 6 member payments 150.00 150.00

10/17/05 Div-Cash Cardinal Health 0.90 0.90

10/28/05 Div-Cash Lowes 0.90 0.90

11/10/05 Div-Cash General Dynamics 2.00 2.00

11/15/05 Payment 5 member payments 125.00 125.00

11/15/05 Div-Cash Proctor & Gamble 4.20 4.20

12/01/05 Div-Cash Wells Fargo 5.20 5.20

12/08/05 Expense #2031 to C.Shaffer (136.99) (136.99)

12/12/05 Div-Cash Walgreens 1.63 1.63

12/13/05 Div-Cash Johnson and Johnson 6.60 6.60

12/15/05 Payment 6 member payments 175.00 175.00

12/15/05 Div-Cash Coor's B-Molsons 4.80 4.80

12/15/05 Div-Cash Coca-Cola 5.32 5.32

12/15/05 Div-Cash Hershey's 3.68 3.68

12/31/05 Earnings Distribution (32.80) (127.31) 202.17 (42.06)

12/31/05 Totals 730.99 10,947.99 10,222.28 0.00 0.00 0.00 1,456.70