TABLE B-8
 
                                               COLLECTIVE INVESTMENT FUNDS
                                           15 LARGEST REAL ESTATE EQUITY FUNDS
                                                      BY ASSET SIZE
                                                    DECEMBER 31, 2000
                                                                                                 FUND          TOTAL ASSETS   TOTAL
SEQ  NAME OF INSTITUTION                       FUND NAME                                     CLASSIFICATION    (THOUS. OF $) ACCOUNT
 
  1  Morgan Guaranty Trust Company of New  COMMINGLED FUND-STRATEGIC PROPERTY             02 EMPLOYEE BENEFIT     4,606,824      132
     NEW YORK CITY, NY
  2  Harris Trust and Savings Bank         RELATED FUND 9                                 01 PERSONAL TRUST       1,490,082       83
     CHICAGO, IL
  3  Morgan Guaranty Trust Company of New  COMMINGLED FUND-SPECIAL SITUATION              02 EMPLOYEE BENEFIT     1,339,600      106
     NEW YORK CITY, NY
  4  Fidelity Management Trust Company     REIT COLLECTIVE POOL                           02 EMPLOYEE BENEFIT       273,253        6
     BOSTON, MA
  5  Chevy Chase Trust Company             EMPLOYEE BENEFIT REAL ESTATE FUND              02 EMPLOYEE BENEFIT       203,948       15
     WASHINGTON, DC
  6  National City Bank of Michigan/Illin  TREASURY MANAGEMENT INVESTMENT FUND            05 OTHER                  147,219      264
     BANNOCKBURN, IL
  7  Morgan Guaranty Trust Company of New  COMMINGLED FUND-US REITS                       02 EMPLOYEE BENEFIT       132,674       11
     NEW YORK CITY, NY
  8  Northern Trust Company of Connecticu  REAL PROPERTY TRUST-NATIONAL PROPERTY ADVISOR  02 EMPLOYEE BENEFIT       112,922        6
     STAMFORD, CT
  9  Wachovia Bank, National Association   EMERGING GROWTH                                02 EMPLOYEE BENEFIT        95,536        7
     WINSTON-SALEM, NC
 10  Amvescap National Trust Company       EQUITY REAL ESTATE SECURITIES FUND             02 EMPLOYEE BENEFIT        89,822       39
     ATLANTA, GA
 11  Wellington Trust Company, National A  REAL ESTATE SECURITIES                         02 EMPLOYEE BENEFIT        84,335        7
     BOSTON, MA
 12  Wachovia Bank, National Association   BALANCED TIMBERLAND FUND B                     01 PERSONAL TRUST          73,250        7
     WINSTON-SALEM, NC
 13  Barclays Global Investors, National   US REAL ESTATE SEC FD A                        02 EMPLOYEE BENEFIT        66,590        1
     SAN FRANCISCO, CA
 14  Wachovia Bank, National Association   BALANCED TIMBERLAND FUND                       02 EMPLOYEE BENEFIT        61,333        6
     WINSTON-SALEM, NC
 15  Morgan Guaranty Trust Company of New  COMMINGLED FUND-TANDEM REAL ESTATE             02 EMPLOYEE BENEFIT        60,958       10
     NEW YORK CITY, NY