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Timberland investments historically have
delivered very competitive levels of performance with limited
volatility. The annualized standard deviation of quarterly
returns for the South Timberland Index from 1987 to year-end
2003 is less than half that of the S&P 500 index and about
one third that of the Russell 2000 index. Timberland has demonstrated
a very favorable risk/return ratio.
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| Investments in timberland are
not bank deposits or obligations of Regions
Bank or any affiliates and are not insured
by, guaranteed by, or obligations of the FDIC,
any governmental agency, or any bank. Investments
in timberland involve risk, including possible
loss of principal. Investment risks of timber
and timberland include cyclical market conditions,
environmental restrictions and possible damages
from biological causes and natural catastrophic
events. |
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