Performance

Distribution Rates - Equity Funds

As of 2/28/07
(Updated Monthly)

Fund Name	12-Month Distribution Rate3
Balanced	2.21%
Dividend Growth Class I 4	1.77

Current Yields and Distribution Rates - Fixed Income Funds

As of 2/28/07
(Updated Monthly)

Fund Name	30-Day SEC Yield	12-Month Distribution Rate	Dividend Distribution Factor
U.S. Government Securities	5.40%	4.62%	0.041289
Tax-Free Income	4.31	3.93	0.029934
Minnesota Tax-Free Income1	4.36	4.17	0.032654
Florida Tax-Free Income1	4.03	3.59	0.028187
Fund Name	7-Day Compound Effective Yield	7-Day Simple Yield	Dividend Distribution Factor
Money Market2	4.89%	4.78%	0.003654

Notes:

Performance figures are historical and do not guarantee future results. Investment returns and principal value will vary, and you may have a gain or loss when you sell shares. Average annual total returns include changes in share price as well as reinvestment of all dividends and capital gains.

(1) Investment income in the Sit Minnesota Tax-Free Income Fund and the Sit Florida Tax-Free Income Fund may be subject to the federal alternative minimum tax.

(2) Sit Money Market Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund.

(3) Based on the last 12 months of distributed net investment income and average NAV as 12/31/06. One of the investment objectives of Sit Balanced and Sit Dividend Growth Fund is to provide income, which is distributed quarterly.

(4) The distribution rate represents Class I. Class S of the Sit Dividend Growth Fund commenced operations on March 31, 2006; therefore, there is no distribution rate information available for this Class. The distribution rate shown for the Class I shares for this Fund would be substantially similar to the Class S because both classes of shares are invested in the same portfolio of securities. Distribution rates will differ only to the extent that the classes do not have the same expenses. Specifically, the performance shown for the Class I shares does not reflect the 0.25% 12b-1 distribution fee that is charged to Class S shares.