comment please see analyst certification and other important disclosures starting on page 35 1 industry equity research north america morgan stanley does seeks to do business with companies covered in its reports as a result investors should be aware that the firm may have conflict of interest could affect objectivity this report consider only single factor making their investment decision customers united states can receive independent third party re search company or at no cost them where such is available access www morganstanley com equityresearch call 800 624 2063 request copy overview november 29 2004kenneth posner 212 761 4524 kenneth betsy graseck 8473 suzanne schiavelli camron ghaffari david brown home hegemony gics sector financials us strategist weight 22 4 s&p 500 20 6 key stock ratings countrywide cfc 32 05 overweight golden west gdw 117 18 wells fargo wfc 62 50 proprietary
