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<TABLE>
1FDCSY2                                                                                                                    PAGE     
1
 RUN DATE:  03/24/97, TIME:  13:42:49
                                    SEC ADVERTISING YIELD SECURITY INCOME DETAIL
                                     FOR THE PERIOD 12/01/96 THROUGH 12/31/96
      UNITED BOND FUND                                                                         000000000000024

<S>        <C>                        <C>       <C>            <C>              <C>                   <C>
SECURITY    SHORT NAME                 METHOD    INCOME         ANNUAL RATE      COMMENT               CALCULATION ERROR
---------  -------------------------  --------  -------------  ---------------  --------------------  --------------------
 032165AD4  AMSOUTH BANCORP P05 SUB    YTM          34,077.78       6.86577020   STANDARD YTM
 032511AH0  ANADARKO PETROLEUM P00     YTM          30,576.43       6.95317580   STANDARD YTM
 041237AJ7  ARKLA INC DEB              YTM-CALL     52,674.12       7.13670770   STANDARD YTM
 046003EJ4  ASSOC CORP N.A. P98 DEB    YTM          45,992.27       6.84283070   STANDARD YTM
 05545ANP9  BHP FINANCE (USA)     FBC  ACTUAL       24,737.83       5.35000000   
 05545ANU8  BHP FINANCE (USA)     FBC  ACTUAL        3,503.81       5.35000000   
 05916RNQ1  BALTIMORE GAS & ELECT MLP  ACTUAL       11,547.08       5.35000000   
 05944QAC4  BANC ONE CREDIT CARD MAST  YTM          29,560.08       7.01055840   STANDARD YTM
 078167AZ6  BELL TEL PA P97/00/02      YTM-CALL     46,104.00-      8.75920110-  STANDARD YTM          NEGATIVE YTM
 079867AN7  BELLSOUTH TELECOM P00 DEB  YTM          14,711.08       5.94450310   STANDARD YTM
 097383AM5  BOISE CASCADE DEBENTURES   YTM-CALL     15,362.69       6.84722090   STANDARD YTM
 126690YL4  CWMBS 1994-G A5            YTM          54,551.78       6.69780220   STANDARD YTM
 126915AF4  CABLEVISION IND SERIES B   YTM-CALL     38,336.37       8.44375710   STANDARD YTM
 13642NAB2  CAN PAC FOREST PROD DEB    YTM          27,727.97       8.87252860   STANDARD YTM
 15133KAC7  CENTEL CAPITAL P99 DEB     YTM          40,787.55       7.31671120   STANDARD YTM
 166784AE8  CHEVY CHASE SAVINGS BANK   YTM-CALL     11,915.61       9.57122080   STANDARD YTM
 171205AU1  CHRYSLER FIN CORP          YTM          56,831.20       6.55474230   STANDARD YTM
 190441AJ4  COASTAL CORP               YTM          31,431.48       6.62828150   STANDARD YTM
 191219AV6  COCA COLA ENTER P00        YTM          69,284.17       7.09479700   STANDARD YTM
 191219AX2  COCA COLA ENT P03          YTM          28,232.11       6.63293540   STANDARD YTM
 20279TNQ7  COMMONWEALTH EDISON   JPM  ACTUAL        6,987.49       5.67000000
 20600ANM7  CONAGRA INC           MLP  ACTUAL        7,943.01       5.64000000
 211177AH3  CONTL CABLEVISION SR NT    YTM          30,456.83       6.84553320   STANDARD YTM
 2166933    CANADIAN GOVT              YTM           5,180.12       6.04597560   STANDARD YTM
 23321PJA7  DLJMA 1994-3 A13           YTM          26,355.88       6.89955820   STANDARD YTM          INC BASED ON EFF DT
 251529AE3  DEUTSCHE BK FINL BK GUAR   YTM          15,260.34       6.96203360   STANDARD YTM
 257039AB3  DOMAN INDUSTRIES           YTM          16,768.62       8.74567290   TAX EXEMPT MKT DISC
 260540AA7  DOW CAPITAL                YTM          34,727.68       7.27335990   STANDARD YTM
 260543AY9  DOW CHEMICAL P99 NOTES     YTM          33,483.38       7.17314530   STANDARD YTM
 283677AQ5  EL PASO ELEC 1ST MORTGAGE  YTM          10,877.78       7.37444240   STANDARD YTM
 29356AMT0  ENRON CORP            GSC  ACTUAL       12,766.15       5.50000000   
 294418AE8  EQUICON LOAN TRUST 1993-1  YTM          27,991.82       7.44431000   STANDARD YTM
 312907FT0  FHR 1142 H                 MORTGAGE     57,701.61       7.95000000   NO PAYDOWN
 312910BS0  FHR 1290 F                 MORTGAGE     60,483.87       7.50000000   NO PAYDOWN
 312910V25  FHR 1322 G REMIC PAC-1     MORTGAGE     60,483.87       7.50000000   NO PAYDOWN
 312911SC5  FHR 1349 PN                MORTGAGE     77,078.39       7.50000000   PRIOR PERIOD PAYDOWN
 3134A0DG4  FED HOME LOAN MTGE         YTM          26,528.26       6.96146060   STANDARD YTM
 31358RVR1  FNR 1992-209 H             MORTGAGE     56,451.61       7.00000000   NO PAYDOWN
 31358RYH0  FNR G92-65 H               MORTGAGE     56,451.61       7.00000000   NO PAYDOWN
 31364AQ54  FED NATL MORTGAGE MTN      YTM          27,224.45       7.24999040   STANDARD YTM
 31373J2W1  FNMA #295189               MORTGAGE     25,894.76       7.50000000
 338032AB1  FISHER SCIENTIFIC NOTES    YTM          21,301.57       7.37204420   STANDARD YTM                           PAGE     1
 36203UFV9  GNMA 359380                MORTGAGE     39,336.55       7.50000000   NO GAIN/LOSS
 36204LEF4  GNMA 372834              SEMORTGAGEIS   34,190.74 UR    7.50000000 IL


1FDCSY2                                                                                                                    PAGE     
2
 RUN DATE:  03/24/97, TIME:  13:42:49
                                    SEC ADVERTISING YIELD SECURITY INCOME DETAIL
                                     FOR THE PERIOD 12/01/96 THROUGH 12/31/96
      UNITED BOND FUND                                                                                     000000000000024

 SECURITY   SHORT NAME                 METHOD    INCOME         ANNUAL RATE      COMMENT               CALCULATION ERROR
---------  -------------------------  --------  -------------  ---------------  --------------------  --------------------
 36206YZ61  GNPL #425665 (223A7)     FOMORTGAGERI   12,493.68 HR    7.75000000
 36225AHY9  GNMA 780247                MORTGAGE     62,710.10       8.00000000
 369622CB9  GE CAP CP NT P98           YTM          56,116.64       6.92312820   STANDARD YTM
 370334MN1  GENERAL MILLS, INC         ACTUAL          746.00       0.00000000
 370424FV0  GMAC P00/05                YTM          67,655.38       7.04349700   STANDARD YTM
 370442AJ4  GENERAL MOTORS DEB P98     YTM-CALL     14,001.01-      2.86439240-  STANDARD YTM          NEGATIVE YTM
 42307JP79  HEINZ (HJ) CO         JPM  YTM/ACTL      2,413.03       5.65000000   STANDARD YTM
 44881HEU4  HYDRO-QUEBEC MTN STEP/P00  YTM          30,565.26       6.47963080   STANDARD YTM
 448814EJ8  HYDRO QUEBEC P06           YTM-CALL     61,992.92       6.62354520   STANDARD YTM
 456626AC4  INFINITY BROAD SR SUB NOT  YTM-CALL     11,840.73       8.18881800   STANDARD YTM
 458182BS0  INTERAMER DEV BANK P99/04  YTM-CALL     12,312.55       2.86055280   STANDARD YTM
 46623PAA2  JP MORGAN CAP TRUST BONDS  YTM-CALL     25,321.72       7.86715340   STANDARD YTM
 480206AJ0  JONES INTERCABLE           YTM          19,260.80       8.41378200   STANDARD YTM
 481206AD2  JOY TECHNOLOGIES           YTM-CALL     19,908.70       6.60672500   STANDARD YTM
 484610AB6  KANSALLIS - OSAKE          YTM          39,104.29       6.92856510   STANDARD YTM
 553010AA7  MGM GRAND HTL 1ST MG DFSD  YTM-CALL     49,200.47       4.28870730   STANDARD YTM
 570387AG5  MARK IV INDUST SR SUB NOT  YTM          21,120.41       8.12409100   STANDARD YTM
 571900AB5  MARRIOTT INTL SENIOR NOTE  YTM          31,573.04       7.24308340   STANDARD YTM
 580169AL4  MCDONNELL DOUGLAS          YTM          31,017.78       6.57763910   STANDARD YTM
 620076AC3  MOTOROLA INC DEB (PUT 01)  YTM          59,972.53       7.06744080   STANDARD YTM
 628931AB3  NBD BANK N.A. P04          YTM          40,803.24       7.19334500   STANDARD YTM
 629527AF9  NABISCO INC P97            YTM          32,403.07       6.24166300   STANDARD YTM
 63858SAA7  NATIONSBANK CORP MTN P04   YTM          35,189.08       7.34344310   STANDARD YTM
 652478AD0  NEWS AMER HLDGS            YTM          28,744.71       6.45525500   STANDARD YTM
 655422AN3  NORANDA INC. NOTES         YTM          30,200.71       7.20153240   STANDARD YTM
 669827DH7  NOVA SCOTIA P01            YTM          33,503.15       7.07355410   STANDARD YTM
 68763FAF7  ORYX ENERGY CO DEB         YTM          12,818.50       7.28147690   STANDARD YTM
 68763FAK6  ORYX ENERGY CO SENIOR NTS  YTM          23,969.37       7.70845580   STANDARD YTM
 690734AH1  OWENS CORNING FIBER        YTM          31,201.44       6.97598490   STANDARD YTM
 69511JM38  PACIFICORP            BAS  ACTUAL          967.29       5.28000000
 707271AL6  PENN CENTRAL CORP SUB NOT  YTM          27,038.38       6.96590820   STANDARD YTM
 742718BG3  PROCTOR & GAMBLE P04/14    YTM          66,503.77       6.91739770   STANDARD YTM
 74740ANQ6  QUAKER OATS CO        JPM  ACTUAL        5,540.38       5.62000000
 749928AA5  RHG FINANCE (CO GUARAN)    YTM          28,292.67       7.95324980   STANDARD YTM
 759464AG5  RELIANCE GROUP HOLDINGS    YTM          21,222.21       8.07783110   STANDARD YTM
 7609203W6  RFMSI 1992-S33 A7          YTM          56,985.15       7.97646820   STANDARD YTM          INC BASED ON EFF DT
 76110WAG1  RASC 1995-KS3 CLASS A4-1   YTM          26,710.84       7.92944770   STANDARD YTM
 766570AD7  RIGGS NATIONAL SUB DEBENT  YTM-CALL     32,668.28       8.02027060   STANDARD YTM
 803111MN0  SARA LEE CORP              ACTUAL          415.43       0.00000000                                          PAGE     1
 812007AC6  SEAGULL ENERGY             YTM           8,314.31       7.70103620   STANDARD YTM
 8447HAAH7  SOUTHTRUST BK AL P01 SR NSEYTM     IS   22,279.34 UR    6.06077960 ILSTANDARD YTM
 8447HBAA0  SOUTHTRUST BK OF BIRM P05  YTM          31,940.01       7.21872120   STANDARD YTM                           PAGE     2
 84603AAA0  SOVEREIGN BANCRP SUB NTS   YTM          13,142.55       7.71332450   STANDARD YTM
 87924FAU0  TELECOMM STEP/ P99       SEYTM     IS   39,404.42 UR    6.03958000 ILSTANDARD YTM
1FDCSY2                                                                                                                    PAGE     
3
 RUN DATE:  03/24/97, TIME:  13:42:49
                                    SEC ADVERTISING YIELD SECURITY INCOME DETAIL
                                     FOR THE PERIOD 12/01/96 THROUGH 12/31/96
      UNITED BOND FUND                                                                                     000000000000024


 SECURITY    SHORT NAME                 METHOD    INCOME         ANNUAL RATE      COMMENT               CALCULATION ERROR
 ---------  -------------------------  --------  -------------  ---------------  --------------------  --------------------
 88033GAC4  TENET HEALTHCARE         FOYTM     RI   33,340.41 HR    7.58665020   STANDARD YTM
 880591CK6  TENN VALLEY AUTH P98/06    YTM          25,177.93       5.87682970   STANDARD YTM
 900262AR7  TURNER BROADCASTING        YTM          28,735.69       8.14347940   STANDARD YTM
 903293AN8  USG CORP.                  YTM          13,547.65       7.57749980   STANDARD YTM
 903293AP3  USG CORP                   YTM           5,217.57       7.77014110   STANDARD YTM
 908640AD7  UNION TEXAS PETROLEUM SR   YTM          21,115.34       7.03082080   STANDARD YTM
 911596MN1  U S BANCORP                ACTUAL          190.58-      0.00000000
 912827J45  US TREASURY NOTE           YTM           2,518.66       5.57475940   STANDARD YTM
 912827P22  US TREASURY NOTE           YTM          48,916.96       5.91703490   STANDARD YTM
 912827Q21  US TREASURY NOTE           YTM          14,743.22       5.97901130   STANDARD YTM
 912833GA2  US TREASURY STRIP          YTM          51,395.73       6.58634420   STANDARD YTM
 925526AG0  VIACOM INTERNATIONAL       YTM          18,813.35       7.91673980   STANDARD YTM
 925526AH8  VIACOM INTERNATIONAL       YTM          10,831.59       8.14826100   STANDARD YTM
 928951AH5  WFS FIN OWNR TR 96-B A2    YTM          24,746.30       6.06375790   STANDARD YTM
 947423AD1  WEBB DEL SENIOR NOTES      YTM-CALL      4,044.10       1.06414430-  STANDARD YTM          NEGATIVE YTM
 949740BU7  WELLS FARGO & CO           YTM               0.00       0.00000000   STANDARD YTM
 984245AA8  YPF SA                     YTM          23,955.34       7.99724420   TAX EXEMPT MKT DISC
1FDCSY2                                                                                                                 PAGE     4
 RUN DATE:  03/24/97, TIME:  13:42:49
                                    SEC ADVERTISING YIELD SECURITY INCOME DETAIL
                                     FOR THE PERIOD 12/01/96 THROUGH 12/31/96
      UNITED BOND FUND                                                                                     000000000000024


            S U M M A R Y   D A T A   CLASS 03
            TOTAL INCOME..................            64,992.85
            TOTAL EXPENSES................             5,112.68-
            AVERAGE SHARES................       1,923,765.9486
            MAXIMUM OFFERING PRICE........             6.140000
            EXPONENT USED IN FORMULA......                     6
            SEC ADVERTISED YIELD..........             6.160986

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