Board of Directors

Enrique R. Arzac(1,4)           W. Perry Neff(1,2)
Susan C. Schwab(1,3)            Douglas G. Ober(1)
Daniel E. Emerson(2,4)          Landon Peters(2,4)
Thomas H. Lenagh(2,3)           John J. Roberts(1,4)
W.D. MacCallan(1,3)             Robert J.M. Wilson(3,4)
                

1. Member of Executive Committee
2. Member of Audit Committee
3. Member of Compensation Committee
4. Member of Retirement Committee

Officers

Douglas G. Ober             Chairman and
                              Chief Executive Officer
Richard F. Koloski          President
Joseph M. Truta             Executive Vice President
Nancy J. F. Prue            Vice President--Research
Lawrence L. Hooper, Jr.     Vice President, Secretary and
                              General Counsel
Maureen A. Jones            Vice President and
                             Treasurer
Christine M. Griffith       Assistant Treasurer
Geraldine H. Stegner        Assistant Secretary


                         STOCK DATA

Price (3/31/00)            $36.00
Net Asset Value (3/31/00)  $43.85
Discount:                   17.9%

New York Stock Exchange and Pacific Exchange
   ticker symbol: PEO

NASDAQ Mutual Fund Quotation Symbol: XPEOX

Newspaper stock listings are generally under the
   abbreviation: PetRs


                    DISTRIBUTIONS IN 2000

From Investment Income                   $0.27
  (Paid or declared)
From Net Realized Gains                   0.13
                                         -----
    Total                                $0.40
                                         =====


                2000 DIVIDEND PAYMENT DATES

                     March 1, 2000
                     June 1, 2000
                     September 1, 2000*
                     December 27, 2000*
                *Anticipated