Freedom Center

Summary of Net Interest Expense

for the period of June 30, 2007 to December 31, 2009

Six Mos.
Ending Annual Annual
12/31/07 2008 2009
Debt Summary
Average Covered 30,000,000 32,000,000 34,000,000
Average Uncovered 19,000,000 16,000,000 13,000,000
Total Debt 49,000,000 48,000,000 47,000,000

Net Interest Income on Covered Debt @ 50 basis points

Investments-yield of 5.3% 795,000 1,696,000 1,802,000
Borrowing-average interest rate of 4.8% (720,000) (1,536,000) (1,632,000)
Net Interest Income on Covered Debt @ 50 basis points 75,000 160,000 170,000

Swap Agreement-fixed rate of 3.765% (approximately 4.85% all in)

$14 million July 1,2007 to June 30,2008 (340,000) (340,000) 0
$8 million July 1, 2008 to June 30,2009 (194,000) (194,000)

Portion of Uncovered Debt by Swap agree. @ 4.8%-current all in (120,000) (240,000) (432,000) Note

Total Net Interest Expense (385,000) (614,000) (456,000)

Per Forecast/Proforma (400,000) (600,000) (450,000)
3 yr Proforma 3 yr Proforma
2007 Forecast
Net Interest Expense Six Months Ended June 30, 2007 551,000
1st Six Month Forecast Above 400,000
Rounding 9,000
960,000
3 yr Proforma

Note---$5 million at 4.8% for six months-2007

---$2 million @ 4.8% for first six months; $8 million @ 4.8% last six months-2008
---$5 million @ 4.8% for first six months; $$13 million @ 4.8% for last six months-2009

Pro Forma Net Interest-August Update

e

Pro Forma Net Interest-August Update