River City Partnership                    11/18/03

                           Valuation Statement as of November 17, 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   61.0000     915.00   9.0%   3.25%    3.72%

      Coca-Cola            KO  01/01/03    40.000   49.3185    1972.74   46.6900    1867.60  18.4%   8.06%    9.25%

      Coor's B            RKY  01/01/03    20.000   55.1945    1103.89   56.8800    1137.60  11.2%   0.78%    0.89%

      Ethan Allen         ETH  01/01/03    20.000   36.0600     721.20   40.2800     805.60   7.9%  18.10%   20.91%

      General Dynamics     GD  03/04/03     5.000   62.1980     310.99   81.9400     409.70   4.0%  32.95%   49.66%

      Johnson and John    JNJ  08/07/03    10.000   51.1190     511.19   52.1200     521.20   5.1%   2.44%    9.00%

      Kohl's              KSS  10/03/03    10.000   55.2690     552.69   51.8000     518.00   5.1%  -6.28%  -40.91%

      Lowes               LOW  08/07/03    10.000   46.8090     468.09   58.6300     586.30   5.8%  25.32%  124.39%

      Starbuck's Cofee   SBUX  01/01/03    40.000   23.5900     943.60   32.0670    1282.68  12.6%  57.35%   67.76%

      Tribune             TRB  01/01/03    30.000   39.0750    1172.25   47.7000    1431.00  14.1%   5.67%    6.50%

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

      Total Securities this Date                               8630.25              9474.68  93.2% ------   ------

      Returns for Securities Shown from First Buy or Valuation Date                                 14.90%   17.18%

      Security Returns from Start or Switchover to this Date                                        13.37%   15.40%

                                                                                                                       

      Cash on Hand - Bank                                       584.00               584.00   5.7%

      Cash on Hand - Broker                                     102.98               102.98   1.0%

      Cash on Hand - Suspense                                     0.00                 0.00   0.0%

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

      Total Cash Accounts this Date                             686.98               686.98   6.8%

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

      Total Securities and Cash Accounts This Date             9317.23             10161.66 100.0%

                                                                                                                       

      Petty Cash                                         $     0.00

      Total number of Valuation Units to Date               12951.032633

      Value of Each Unit This Date                       $     0.785

      Number of Units Each $ 1.00 will Purchase                1.274

                                           River City Partnership                    11/18/03

                                Members Status Report as of November 17, 2003

 

                          PAID IN     TOTAL    PAID IN      UNITS                                    TOTAL COMPOUND

                           SINCE     PAID IN     PLUS       SINCE       UNITS       CURRENT PERCENT  RETURN ANN RET

      NO.       NAME      10/15/03   TO DATE   EARNINGS    10/15/03     OWNED        VALUE  OWNRSHP  SINCE 01/01/03

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

       1 Gunderson, Bret     0.00    1310.00    1240.18    0.000000  1527.657962    1198.63  11.80%  12.03%  13.85%

       2 Hill, Clay & Ja    25.00    1520.00    1447.24   31.942808  1877.125534    1472.83  14.49%  13.24%  15.25%

       3 Hipsher, Craig     25.00    1540.00    1465.05   31.942808  1832.515940    1437.83  14.15%  13.27%  15.28%

       4 Nichols, Jim &     39.00    1284.00    1237.92   31.942808  1625.931536    1275.74  12.55%  12.18%  14.02%

       5 O'Hara, Thomas     25.00    1860.00    1773.76   31.942808  2218.631187    1740.79  17.13%  13.08%  15.06%

       6 Roberts, Stuart     0.00     100.00     100.00    0.000000   109.033791      85.55   0.84% -21.51% -60.98%

       7 Schaffer, Bill     25.00    1495.00    1425.63   31.942808  1812.835100    1422.39  14.00%  13.28%  15.30%

       8 Schaffer, Conni    25.00    1495.00    1425.64   31.942808  1812.835100    1422.39  14.00%  13.28%  15.30%

       9 White, Carol       25.00     120.00     120.00   31.942808   134.466483     105.51   1.04% -20.22% -58.43%

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

         TOTALS            189.00   10724.00   10235.42  223.599656 12951.032633   10161.66 100.00%   -7.77   -2.06