River City Partnership 06/28/05

Valuation Statement as of June 15, 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

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Cardinal Health CAH 01/01/05 15.000 58.2407 873.61 58.0000 870.00 7.5% -0.15% -0.34%

Coca-Cola KO 01/01/05 19.000 46.2784 879.29 43.6400 829.16 7.1% 5.49% 12.56%

Coor's B-Molsons TAP 01/01/05 15.000 70.0927 1051.39 58.8600 882.90 7.6% -26.44% -49.33%

Ethan Allen ETH 01/01/05 20.000 36.0600 721.20 32.1800 643.60 5.5% -18.93% -37.15%

General Dynamics GD 01/01/05 5.000 62.1980 310.99 111.5000 557.50 4.8% 7.35% 17.00%

Hershey's HSY 03/03/05 15.000 63.6027 954.04 64.5500 968.25 8.3% 1.84% 6.60%

Johnson and John JNJ 01/01/05 20.000 50.3295 1006.59 66.3500 1327.00 11.4% 5.61% 12.83%

Lowes LOW 01/01/05 15.000 48.5027 727.54 59.1600 887.40 7.6% 2.87% 6.46%

Proctor & Gamble PG 03/03/05 15.000 54.0227 810.34 54.4000 816.00 7.0% 1.22% 4.35%

Walgreens WAG 01/01/05 25.000 37.0892 927.23 46.1100 1152.75 9.9% 20.46% 50.99%

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Total Securities this Date 8262.22 8934.56 76.9% ------ ------

Returns for Securities Shown from First Buy or Valuation Date -0.61% -1.34%

Security Returns from Start or Switchover to this Date -2.22% -4.85%

Cash on Hand - Bank 840.06 840.06 7.2%

Cash on Hand - Broker 1843.01 1843.01 15.9%

Cash on Hand - Suspense 0.00 0.00 0.0%

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Total Cash Accounts this Date 2683.07 2683.07 23.1%

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Total Securities and Cash Accounts This Date 10945.29 11617.63 100.0%

Petty Cash $ 0.00

Total number of Valuation Units to Date 10424.807250

Value of Each Unit This Date $ 1.114

Number of Units Each $ 1.00 will Purchase 0.897

River City Partnership 06/28/05

Members Status Report as of June 15, 2005

PAID IN TOTAL PAID IN UNITS TOTAL COMPOUND

SINCE PAID IN PLUS SINCE UNITS CURRENT PERCENT RETURN ANN RET

NO. NAME 05/13/05 TO DATE EARNINGS 05/13/05 OWNED VALUE OWNRSHP SINCE 01/01/05

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1 Hill, Clay & Ja 50.00 1995.00 1749.85 47.461260 1944.652615 2167.16 18.65% -2.14% -4.68%

2 Nichols, Jim & 50.00 1759.00 1569.74 47.461260 1745.109460 1944.79 16.74% -2.12% -4.64%

3 O'Hara, Thomas 50.00 2335.00 2036.68 47.461260 2215.645383 2469.16 21.25% -2.16% -4.72%

4 Schaffer, Bill 50.00 1970.00 1735.71 47.461260 1893.636643 2110.31 18.16% -2.14% -4.67%

5 Schaffer, Conni 50.00 1970.00 1735.71 47.461260 1893.636643 2110.31 18.16% -2.14% -4.67%

6 Schaffer, Patri 50.00 775.00 870.59 47.461260 732.126506 815.90 7.02% -1.85% -4.05%

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TOTALS 300.00 10804.00 9698.28 284.767560 10424.807250 11617.63 100.00% 22.59 3.80