TABLE B-9
 
                                               COLLECTIVE INVESTMENT FUNDS
                                         15 LARGEST SHORT-TERM INVESTMENT FUNDS
                                                      BY ASSET SIZE
                                                    DECEMBER 31, 1998
                                                                                                 FUND          TOTAL ASSETS   TOTAL
SEQ  NAME OF INSTITUTION                       FUND NAME                                     CLASSIFICATION    (THOUS. OF $) ACCOUNT
 
  1  The Northern Trust Company            SHORT-TERM INVESTMENT                          02 EMPLOYEE BENEFIT    18,064,986    5,363
     CHICAGO, IL
  2  Boston Safe Deposit and Trust Compan  TBC POOLED EMPLOYEE DAILY LIQUIDITY FUND       02 EMPLOYEE BENEFIT    11,374,261    2,078
     BOSTON, MA
  3  The Chase Manhattan Bank              REAL ESTATE FUND                               02 EMPLOYEE BENEFIT    10,807,297        5
     NEW YORK CITY, NY
  4  Boston Safe Deposit and Trust Compan  TBC POOLED EMPLOYEE ASL ST BOND FUND           02 EMPLOYEE BENEFIT     8,704,651      102
     BOSTON, MA
  5  Barclays Global Investors, National   CASH EQUIVALENT FUND II-S                      02 EMPLOYEE BENEFIT     8,618,840        2
     SAN FRANCISCO, CA
  6  Bankers Trust Company                 PYRAMID DIRECTED ACCOUNT CASH FUND             02 EMPLOYEE BENEFIT     7,687,196    2,357
     NEW YORK CITY, NY
  7  Bankers Trust Company                 PYRAMID SEC. LENDING PRG MONEY MARKET          02 EMPLOYEE BENEFIT     7,529,439       15
     NEW YORK CITY, NY
  8  Morgan Guaranty Trust Company of New  COMMINGLED FUND - LIQUIDITY                    02 EMPLOYEE BENEFIT     7,200,711      416
     NEW YORK CITY, NY
  9  Bankers Trust Company                 PYRAMID DISCRETIONARY ACCT CASH FUND           02 EMPLOYEE BENEFIT     6,017,882      565
     NEW YORK CITY, NY
 10  The Chase Manhattan Bank              VAN 2 DOMESTIC LIQUIDITY FUND                  02 EMPLOYEE BENEFIT     5,325,223      602
     NEW YORK CITY, NY
 11  Barclays Global Investors, National   CASH EQUIVALENT FUND II                        02 EMPLOYEE BENEFIT     5,151,043        1
     SAN FRANCISCO, CA
 12  Barclays Global Investors, National   MONEY MARKET FUND FOR EBT                      02 EMPLOYEE BENEFIT     4,396,217    1,152
     SAN FRANCISCO, CA
 13  Barclays Global Investors, National   SPECIAL SHORT TERM FUND I                      02 EMPLOYEE BENEFIT     4,357,561        5
     SAN FRANCISCO, CA
 14  PNC Bank, National Association        STIF - GOVERNMENT                              05 OTHER                3,670,593    4,867
     PITTSBURGH, PA
 15  Barclays Global Investors, National   CASH EQUIVALENT FUND I-S                       02 EMPLOYEE BENEFIT     3,488,012        1
     SAN FRANCISCO, CA