43% IN 18 MONTS TY ORCL

ORCL has agreed to purchase PFST for $26.50 per share cash. In monitored accounts, we purchased this one at $18.47 on June 6, 2003; a 43% gain in 18 months. The deal will probably close in January and we will wait in order to take the capital gains in 2005. It took a lot of patience for the monitored account owners to hold onto for the final purchase; good job!