Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Prime Quality Money Market Fund
CrestFunds Cash Reserve Fund
November 30, 1998
------------------------------------
STI Classic Prime Quality
Money Market Fund
- -------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- -------------------------------------------------------------------------------------------------------------
Commercial Paper--29.7%
Finance--22.6%
Banc One Funding 5.230% 12/07/98 1,871 1,869
Banc One Funding 5.230% 01/21/99 5,065 5,028
Banc One Funding 5.130% 01/28/99 50,000 49,587
Banc One Funding 5.280% 01/28/99 25,000 24,787
Barclays U.S. Funding 5.180% 01/07/99 25,000 24,867
Chrysler Financial 5.240% 02/11/99 40,000 39,581
CS First Boston 5.800% 05/06/99
Den Norske Bank 5.380% 05/04/99
Den Norske Bank 4.860% 08/10/99
Dresdner U.S. Finance 5.190% 01/08/99 40,000 39,781
Ford Motor Credit 5.450% 01/13/99
General Motors Acceptance 5.070% 01/28/99
General Motors Acceptance 5.240% 02/11/99 41,500 41,065
General Electric Capital 5.250% 12/09/98 4,900 4,894
General Electric Capital 5.270% 01/20/99
General Electric Capital 5.410% 02/22/99
Goldman Sachs 5.480% 02/09/99
Goldman Sachs 5.000% 04/20/99
J.P. Morgan 5.200% 01/14/99 1,000 994
J.P. Morgan 5.150% 01/14/99 2,000 1,987
J.P. Morgan 5.250% 01/19/99 5,500 5,461
Marsh & Mclennen 5.290% 02/24/99 25,000 24,688
Marsh & Mclennen 5.230% 02/25/99 50,000 49,375
Merrill Lynch 4.820% 06/17/99
Morgan Stanley Dean Witter 5.200% 01/21/99 50,000 49,632
Morgan Stanley Dean Witter 5.170% 03/26/99
Panasonic Finance 5.380% 01/21/99 34,500 34,237
Panasonic Finance 5.380% 01/21/99 25,000 24,810
Republic New York 5.190% 01/15/99 50,000 49,676
RTZ America Finance 5.120% 12/21/98 29,000 28,918
- -------------------------------------------------------------------------------------------------------------
501,237
- -------------------------------------------------------------------------------------------------------------
Industrial--6.7%
Allied Signal 5.550% 01/21/99 17,000 16,866
Allied Signal 5.550% 01/21/99 5,000 4,961
Allied Signal 5.550% 01/21/99 25,000 24,803
DuPont (E.I.) de Nemours 5.060% 01/27/99
Ford Motor 5.000% 12/17/98
RTZ America 5.130% 12/10/98 2,000 1,997
RTZ America 5.250% 01/04/99 5,000 4,975
RTZ America 5.350% 01/22/99 20,000 19,845
----------------------------------- --------------------------------------
CrestFunds Cash
Reserve Fund Pro Forma Combined
- ------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- ------------------------------------------------------------------------------------------------------------------------------
Commercial Paper--29.7%
Finance--22.6%
Banc One Funding 1,871 1,869
Banc One Funding 5,065 5,028
Banc One Funding 50,000 49,587
Banc One Funding 25,000 24,787
Barclays U.S. Funding 25,000 24,867
Chrysler Financial 40,000 39,581
CS First Boston 15,000 15,000 15,000 15,000
Den Norske Bank 20,000 19,540 20,000 19,540
Den Norske Bank 20,000 19,320 20,000 19,320
Dresdner U.S. Finance 40,000 39,781
Ford Motor Credit 35,000 34,772 35,000 34,772
General Motors Acceptance 55,000 54,551 55,000 54,551
General Motors Acceptance 41,500 41,065
General Electric Capital 4,900 4,894
General Electric Capital 30,000 29,780 30,000 29,780
General Electric Capital 25,000 24,688 25,000 24,688
Goldman Sachs 30,000 29,680 30,000 29,680
Goldman Sachs 30,000 29,417 30,000 29,417
J.P. Morgan 1,000 994
J.P. Morgan 2,000 1,987
J.P. Morgan 5,500 5,461
Marsh & Mclennen 25,000 24,688
Marsh & Mclennen 50,000 49,375
Merrill Lynch 40,000 38,940 40,000 38,940
Morgan Stanley Dean Witter 50,000 49,632
Morgan Stanley Dean Witter 55,000 54,092 55,000 54,092
Panasonic Finance 34,500 34,237
Panasonic Finance 25,000 24,810
Republic New York 50,000 49,676
RTZ America Finance 29,000 28,918
- ------------------------------------------------------------------------------------------------------------------------------
349,780 851,017
- ------------------------------------------------------------------------------------------------------------------------------
Industrial--6.7%
Allied Signal 17,000 16,866
Allied Signal 5,000 4,961
Allied Signal 25,000 24,803
DuPont (E.I.) de Nemours 55,000 54,559 55,000 54,559
Ford Motor 30,000 29,933 30,000 29,933
RTZ America 2,000 1,997
RTZ America 5,000 4,975
RTZ America 20,000 19,845
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Prime Quality Money Market Fund
CrestFunds Cash Reserve Fund
November 30, 1998
--------------------------------------
STI Classic Prime Quality
Money Market Fund
- ----------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- ----------------------------------------------------------------------------------------------------------------------------------
Sony Capital 5.350% 12/09/98 23,697 23,669
Wal-Mart Stores 5.400% 12/01/98 12,000 12,000
Walt Disney 4.460% 07/13/99
- ----------------------------------------------------------------------------------------------------------------------------------
109,116
- ----------------------------------------------------------------------------------------------------------------------------------
Utilities--0.4%
British Petroleum America 5.400% 12/01/98 522 522
Duke Energy 5.400% 12/01/98 14,775 14,775
- ----------------------------------------------------------------------------------------------------------------------------------
15,297
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Total Commercial Paper (Cost $1,118,257) 625,650
- ----------------------------------------------------------------------------------------------------------------------------------
Corporate Obligations--15.4%
Finance--14.6%
Associates Corporation of North America 6.750% 06/28/99 5,500 5,542
Associates Corporation of North America (A) 4.940% 01/04/99 20,000 19,999
Associates Corporation of North America (A) 4.850% 04/23/99 20,000 19,993
Associates Corporation of North America (A) 7.250% 09/01/99 350 355
Bankamerica Corporation MTN 7.230% 05/02/99 1,500 1,513
Bankers Trust, New York (A) 5.234% 02/10/99 25,000 24,999
Bankers Trust, New York (A) 5.379% 02/19/99 25,000 24,999
Bear Stearns MTN 5.700% 03/02/99
Bear Stearns MTN 5.715% 07/30/99
Beneficial MTN 5.758% 08/27/99 3,000 3,002
Caterpillar Financial Service MTN 6.040% 03/01/99 3,300 3,302
Caterpillar Financial Service MTN 5.160% 05/09/99 45,000 45,000
Chrysler Financial MTN 5.860% 02/22/99 5,000 5,005
Chrysler Financial MTN 6.160% 07/28/99 1,000 1,004
Chrysler Financial (A) 12.750% 11/01/99 1,000 1,067
CS First Boston (A) 4.860% 12/01/98
CS First Boston 5.360% 10/14/99 25,000 25,000
Dean Witter Discover 5.030% 03/02/99 15,000 14,978
Ford Motor Credit MTN (A) 8.000% 01/15/99 8,000 8,025
General Electric Capital MTN 15.000% 01/21/99 6,500 6,585
General Motors Acceptance 7.125% 06/01/99
General Motors Acceptance 8.625% 06/15/99 480 488
General Motors Acceptance MTN 6.000% 12/30/98 1,575 1,575
Household Finance MTN 4.780% 03/15/99 7,000 6,982
Household Finance MTN 7.280% 07/22/99 2,500 2,532
Household International MTN 5.268% 10/22/99 15,000 15,010
IBM Credit MTN 5.450% 09/15/99 40,000 40,000
Merrill Lynch MTN (A) 5.302% 02/05/99
Merrill Lynch MTN (A) 5.852% 02/15/99
Morgan Stanely Dean Witter MTN 5.000% 01/22/99 20,000 19,997
------------------------------------ ----------------------------------
CrestFunds Cash
Reserve Fund Pro Forma Combined
- ----------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- ----------------------------------------------------------------------------------------------------------------------------------
Sony Capital 23,697 23,669
Wal-Mart Stores 12,000 12,000
Walt Disney 60,000 58,335 60,000 58,335
- ----------------------------------------------------------------------------------------------------------------------------------
142,827 251,943
- ----------------------------------------------------------------------------------------------------------------------------------
Utilities--0.4%
British Petroleum America 522 522
Duke Energy 14,775 14,775
- ----------------------------------------------------------------------------------------------------------------------------------
- 15,297
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Total Commercial Paper (Cost $1,118,257) 492,607 1,118,257
- ----------------------------------------------------------------------------------------------------------------------------------
Corporate Obligations--15.4%
Finance--14.6%
Associates Corporation of North America 5,500 5,542
Associates Corporation of North America (A) 20,000 19,999
Associates Corporation of North America (A) 20,000 19,993
Associates Corporation of North America (A) 350 355
Bankamerica Corporation MTN 1,500 1,513
Bankers Trust, New York (A) 25,000 24,999
Bankers Trust, New York (A) 25,000 24,999
Bear Stearns MTN 15,000 15,000 15,000 15,000
Bear Stearns MTN 20,000 20,000 20,000 20,000
Beneficial MTN 3,000 3,002
Caterpillar Financial Service MTN 3,300 3,302
Caterpillar Financial Service MTN 45,000 45,000
Chrysler Financial MTN 5,000 5,005
Chrysler Financial MTN 1,000 1,004
Chrysler Financial (A) 1,000 1,067
CS First Boston (A) 25,000 25,000 25,000 25,000
CS First Boston 25,000 25,000
Dean Witter Discover 15,000 14,978
Ford Motor Credit MTN (A) 8,000 8,025
General Electric Capital MTN 6,500 6,585
General Motors Acceptance 10,614 10,684 10,614 10,684
General Motors Acceptance 480 488
General Motors Acceptance MTN 1,575 1,575
Household Finance MTN 7,000 6,982
Household Finance MTN 2,500 2,532
Household International MTN 15,000 15,010
IBM Credit MTN 40,000 40,000
Merrill Lynch MTN (A) 5,000 4,997 5,000 4,997
Merrill Lynch MTN (A) 10,000 10,041 10,000 10,041
Morgan Stanely Dean Witter MTN 20,000 19,997
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Prime Quality Money Market Fund
CrestFunds Cash Reserve Fund
November 30, 1998
------------------------------------
STI Classic Prime Quality
Money Market Fund
- ----------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- ----------------------------------------------------------------------------------------------------------------------------------
Morgan Stanley Dean Witter MTN 5.908% 03/01/99 2,000 2,001
Morgan Stanley Group MTN (A) 5.508% 12/28/98 1,500 1,500
Morgan Stanley Group MTN 6.125% 01/05/99 1,000 1,000
NationsBank MTN (A) 5.303% 01/04/99
NationsBank MTN 4.910% 08/05/99 28,000 28,023
NationsBank MTN 5.190% 08/06/99 13,000 13,013
NYNEX Capital Funding MTN 7.640% 07/19/99 2,000 2,029
PHH MTN (A) 4.860% 12/01/98
Transamerica MTN 5.427% 02/18/99 2,500 2,500
Transamerica MTN 5.450% 10/22/99 76,500 76,500
- ----------------------------------------------------------------------------------------------------------------------------------
423,518
- ----------------------------------------------------------------------------------------------------------------------------------
Industrial--0.7%
Allied Signal 9.120% 03/08/99 3,500 3,534
General Mills 8.950% 12/15/98 2,655 2,659
Philip Morris 8.625% 03/01/99 10,191 10,270
Philip Morris 7.750% 05/01/99 2,000 2,014
Pitney Bowes MTN 6.540% 07/15/99 2,025 2,041
Texaco Capital 6.875% 07/15/99 1,000 1,010
Walt Disney 15.000% 12/14/98 6,300 6,321
- ----------------------------------------------------------------------------------------------------------------------------------
27,849
- ----------------------------------------------------------------------------------------------------------------------------------
Utilities--0.1%
Duke Energy 8.000% 11/01/99 5,330 5,465
Northern States Power 5.500% 02/01/99 200 200
- ----------------------------------------------------------------------------------------------------------------------------------
5,665
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Total Corporate Obligations (Cost $582,752) 457,032
- ----------------------------------------------------------------------------------------------------------------------------------
Asset-Backed Securities--6.2%
Americredit Auto Recievables Trust, Ser 1998-B, Cl A1 5.629% 06/12/99 10,629 10,629
Americredit Auto Receivables Trust, Ser 1998-C, Cl A1 5.638% 09/12/99 11,545 11,545
Americredit Auto Recievables Trust, Ser 1998-B, Cl A1 5.199% 11/12/99 27,000 27,000
Arcadia Auto Receivables Trust, Ser 1998-C, Cl A1 5.470% 02/16/99 18,632 18,632
Arcadia Auto Receivables Trust, Ser 1998-B, Cl A1 5.628% 07/15/99 5,624 5,624
Arcadia Auto Receivables Trust, Ser 1998-D, Cl A1 5.482% 12/15/99 13,000 13,000
Household Automobile Revolving Trust, Ser 1998-1, Cl A1 5.330% 12/17/99 62,000 62,000
Case Equipment Loan Trust, Ser 1998-C, Cl A1 5.420% 12/15/99 40,000 40,000
Chase Manhattan Auto Owner Trust, Ser 1999-B, Cl A1 5.578% 05/10/99 3,111 3,111
Compass Auto Receivables Trust, Ser 1998-A, Cl A1 5.659% 07/15/99 5,276 5,276
First Security Auto Owner Trust, Ser 1998-1, Cl A1 5.248% 11/15/99 27,346 27,346
Union Acceptance Ser 1998-C, Cl A1 5.527% 10/08/99 11,236 11,236
- ----------------------------------------------------------------------------------------------------------------------------------
Total Asset-Backed Securities (Cost $235,399) 235,399
- ----------------------------------------------------------------------------------------------------------------------------------
------------------------------------- ---------------------------------
CrestFunds Cash
Reserve Fund Pro Forma Combined
- -----------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- -----------------------------------------------------------------------------------------------------------------------------------
Morgan Stanley Dean Witter MTN 2,000 2,001
Morgan Stanley Group MTN (A) 1,500 1,500
Morgan Stanley Group MTN 1,000 1,000
NationsBank MTN (A) 10,000 9,999 10,000 9,999
NationsBank MTN 28,000 28,023
NationsBank MTN 13,000 13,013
NYNEX Capital Funding MTN 2,000 2,029
PHH MTN (A) 30,000 29,999 30,000 29,999
Transamerica MTN 2,500 2,500
Transamerica MTN 76,500 76,500
- -----------------------------------------------------------------------------------------------------------------------------------
125,720 549,238
- -----------------------------------------------------------------------------------------------------------------------------------
Industrial--0.7%
Allied Signal 3,500 3,534
General Mills 2,655 2,659
Philip Morris 10,191 10,270
Philip Morris 2,000 2,014
Pitney Bowes MTN 2,025 2,041
Texaco Capital 1,000 1,010
Walt Disney 6,300 6,321
- -----------------------------------------------------------------------------------------------------------------------------------
- 27,849
- -----------------------------------------------------------------------------------------------------------------------------------
Utilities--0.1%
Duke Energy 5,330 5,465
Northern States Power 200 200
- -----------------------------------------------------------------------------------------------------------------------------------
- 5,665
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Total Corporate Obligations (Cost $582,752) 125,720 582,752
- -----------------------------------------------------------------------------------------------------------------------------------
Asset-Backed Securities--6.2%
Americredit Auto Recievables Trust, Ser 1998-B, Cl A1 10,629 10,629
Americredit Auto Receivables Trust, Ser 1998-C, Cl A1 11,545 11,545
Americredit Auto Recievables Trust, Ser 1998-B, Cl A1 27,000 27,000
Arcadia Auto Receivables Trust, Ser 1998-C, Cl A1 18,632 18,632
Arcadia Auto Receivables Trust, Ser 1998-B, Cl A1 5,624 5,624
Arcadia Auto Receivables Trust, Ser 1998-D, Cl A1 13,000 13,000
Household Automobile Revolving Trust, Ser 1998-1, Cl A1 62,000 62,000
Case Equipment Loan Trust, Ser 1998-C, Cl A1 40,000 40,000
Chase Manhattan Auto Owner Trust, Ser 1999-B, Cl A1 3,111 3,111
Compass Auto Receivables Trust, Ser 1998-A, Cl A1 5,276 5,276
First Security Auto Owner Trust, Ser 1998-1, Cl A1 27,346 27,346
Union Acceptance Ser 1998-C, Cl A1 11,236 11,236
- -----------------------------------------------------------------------------------------------------------------------------------
Total Asset-Backed Securities (Cost $235,399) - 235,399
- -----------------------------------------------------------------------------------------------------------------------------------
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Prime Quality Money Market Fund
CrestFunds Cash Reserve Fund
November 30, 1998
-------------------------------------
STI Classic Prime Quality
Money Market Fund
- --------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- --------------------------------------------------------------------------------------------------------------------------------
Bank Notes--14.0%
American Express Centurion (A) 5.169% 03/24/99 45,000 45,000
American Express Centurion 5.223% 08/09/99 5,000 5,000
FCC National Bank (A) 5.120% 04/09/99 50,000 49,993
First National Bank (A) 5.110% 04/19/99 62,000 61,989
First Union Bank (A) 5.427% 02/17/99
First USA Bank 5.750% 01/15/99 6,000 6,002
Key Bank NA (A) 4.800% 12/01/98
Key Bank NA 5.160% 05/05/99 61,000 60,989
National Westminister Bank 5.820% 05/06/99 59,000 58,986
Northern Trust (A) 5.120% 04/09/99 70,000 69,990
PNC Bank NA (A) 4.790% 12/01/98
PNC Bank NA (A) 4.800% 12/01/98
Swiss Bank 5.650% 03/24/99 20,000 19,995
Swiss Bank 5.810% 04/29/99 30,000 29,993
Wachovia Bank NA 5.600% 03/08/99 3,500 3,499
- --------------------------------------------------------------------------------------------------------------------------------
Total Bank Notes (Cost $531,415) 411,436
- --------------------------------------------------------------------------------------------------------------------------------
Certificates of Deposit--14.8%
Bankers Trust (A) 4.830% 12/01/98
Barclays Bank 5.530% 02/23/99
Barclays Bank 5.800% 04/29/99 50,000 49,988
Bayerische Landesbank (A) 5.108% 04/21/99 62,000 61,988
Commerzbank (A) 5.125% 04/14/99 25,000 24,996
Commerzbank (A) 5.130% 04/14/99 40,000 39,994
CS First Boston 5.920% 12/14/98
Deutsche Bank (A) 5.120% 04/14/99 50,000 49,991
Deutsche Bank 5.640% 03/23/99 18,000 17,995
First Union 5.660% 04/15/99
NationsBank 5.600% 12/21/98
PNC Bank NA 5.116% 08/03/99 15,000 14,993
Rabobank 5.750% 04/27/99 50,000 49,990
Societe Generale 5.850% 12/17/98
Societe Generale 5.700% 01/07/99
Societe Generale 5.580% 02/10/99 25,000 24,999
Societe Generale 5.670% 03/11/99
Societe Generale 5.800% 04/01/99 35,000 34,996
Swiss Bank 5.750% 05/07/99
- --------------------------------------------------------------------------------------------------------------------------------
Total Certificates of Deposit (Cost $560,317) 369,930
- --------------------------------------------------------------------------------------------------------------------------------
Insurance Funding Agreements--3.4%
General American Life (A) 5.790% 12/01/98
Integrity Life (A) 5.790% 12/01/98
- --------------------------------------------------------------------------------------------------------------------------------
Total Insurance Funding Agreements (Cost $130,000) -
- --------------------------------------------------------------------------------------------------------------------------------
----------------------------------- ----------------------------------
CrestFunds Cash
Reserve Fund Pro Forma Combined
- -----------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- -----------------------------------------------------------------------------------------------------------------------------------
Bank Notes--14.0%
American Express Centurion (A) 45,000 45,000
American Express Centurion 5,000 5,000
FCC National Bank (A) 50,000 49,993
First National Bank (A) 62,000 61,989
First Union Bank (A) 30,000 30,000 30,000 30,000
First USA Bank 6,000 6,002
Key Bank NA (A) 40,000 39,994 40,000 39,994
Key Bank NA 61,000 60,989
National Westminister Bank 59,000 58,986
Northern Trust (A) 70,000 69,990
PNC Bank NA (A) 20,000 19,993 20,000 19,993
PNC Bank NA (A) 30,000 29,992 30,000 29,992
Swiss Bank 20,000 19,995
Swiss Bank 30,000 29,993
Wachovia Bank NA 3,500 3,499
- -----------------------------------------------------------------------------------------------------------------------------------
Total Bank Notes (Cost $531,415) 119,979 531,415
- -----------------------------------------------------------------------------------------------------------------------------------
Certificates of Deposit--14.8%
Bankers Trust (A) 20,000 19,997 20,000 19,997
Barclays Bank 15,400 15,391 15,400 15,391
Barclays Bank 50,000 49,988
Bayerische Landesbank (A) 62,000 61,988
Commerzbank (A) 25,000 24,996
Commerzbank (A) 40,000 39,994
CS First Boston 10,000 10,000 10,000 10,000
Deutsche Bank (A) 50,000 49,991
Deutsche Bank 18,000 17,995
First Union 30,000 30,000 30,000 30,000
NationsBank 40,000 40,000 40,000 40,000
PNC Bank NA 15,000 14,993
Rabobank 50,000 49,990
Societe Generale 10,000 10,000 10,000 10,000
Societe Generale 20,000 20,003 20,000 20,003
Societe Generale 25,000 24,999
Societe Generale 20,000 19,998 20,000 19,998
Societe Generale 35,000 34,996
Swiss Bank 25,000 24,998 25,000 24,998
- -----------------------------------------------------------------------------------------------------------------------------------
Total Certificates of Deposit (Cost $560,317) 190,387 560,317
- -----------------------------------------------------------------------------------------------------------------------------------
Insurance Funding Agreements--3.4%
General American Life (A) 65,000 65,000 65,000 65,000
Integrity Life (A) 65,000 65,000 65,000 65,000
- -----------------------------------------------------------------------------------------------------------------------------------
Total Insurance Funding Agreements (Cost $130,000) 130,000 130,000
- -----------------------------------------------------------------------------------------------------------------------------------
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Prime Quality Money Market Fund
CrestFunds Cash Reserve Fund
November 30, 1998
------------------------------------------
STI Classic Prime Quality
Money Market Fund
- -----------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- -----------------------------------------------------------------------------------------------------------------------------------
U.S. Government Agency Obligations--3.9%
FFCB MTN (A) 4.540% 03/02/99 40,000 39,995
FNMA (A) 0.000% 02/18/99 6,020 5,949
FNMA 5.165% 03/15/99
SLMA (A) 5.000% 04/01/99 45,000 44,994
SLMA, Callable 01/05/99 @ 100 (A) 4.770% 02/08/99 5,000 4,999
SLMA, Ser 1996-4, Cl A1 (A) 5.040% 12/02/99 1,079 1,072
SLMA, Ser 1996-3, Cl A1 (A) 4.488% 12/02/99 2,939 2,920
- -----------------------------------------------------------------------------------------------------------------------------------
Total U.S. Government Agency Obligations (Cost $149,183) 99,929
- -----------------------------------------------------------------------------------------------------------------------------------
Repurchase Agreements--13.9%
Barclays 5.39%, dated 11/30/98, matures 12/01/98 22,150 22,150
Barclays 5.40%, dated 11/30/98, matures 12/01/98
Deutsche Bank 5.39%, dated 11/30/98, matures 12/01/98 182,008 182,008
Deutsche Bank 5.40%, dated 11/30/98, matures 12/01/98
Greenwich 5.39%, dated 11/30/98, matures 12/01/98 53,068 53,068
J.P. Morgan 5.40%, dated 11/30/98, matures 12/01/98
Merrill Lynch 5.40%, dated 11/30/98, matures 12/01/98
Morgan Stanley 5.39%, dated 11/30/98, matures 12/01/98 36,003 36,003
Paine Webber 5.40%, dated 11/30/98, matures 12/01/98
Prudential Bache 5.40%, dated 11/30/98, matures 12/01/98
Salomon Brothers 5.39%, dated 11/30/98, matures 12/01/98 20,004 20,004
- -----------------------------------------------------------------------------------------------------------------------------------
Total Repurchase Agreements (Cost $527,553) 313,233
- -----------------------------------------------------------------------------------------------------------------------------------
Total Investments--101.3%
(Cost $3,834,876) 1,731,243
- -----------------------------------------------------------------------------------------------------------------------------------
Other Assets and Liabilities, Net--(1.3%) (54,312)
- -----------------------------------------------------------------------------------------------------------------------------------
Total Net Assets--100.0% 1,676,931
- -----------------------------------------------------------------------------------------------------------------------------------
----------------------------------- ----------------------------------
CrestFunds Cash
Reserve Fund Pro Forma Combined
- ----------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- ----------------------------------------------------------------------------------------------------------------------------------
U.S. Government Agency Obligations--3.9%
FFCB MTN (A) 40,000 39,995
FNMA (A) 6,020 5,949
FNMA 50,000 49,254 50,000 49,254
SLMA (A) 45,000 44,994
SLMA, Callable 01/05/99 @ 100 (A) 5,000 4,999
SLMA, Ser 1996-4, Cl A1 (A) 1,079 1,072
SLMA, Ser 1996-3, Cl A1 (A) 2,939 2,920
- ----------------------------------------------------------------------------------------------------------------------------------
Total U.S. Government Agency Obligations (Cost $149,183) 49,254 149,183
- ----------------------------------------------------------------------------------------------------------------------------------
Repurchase Agreements--13.9%
Barclays 5.39%, dated 11/30/98, matures 12/01/98 22,150 22,150
Barclays 5.40%, dated 11/30/98, matures 12/01/98 13,005 13,005 13,005 13,005
Deutsche Bank 5.39%, dated 11/30/98, matures 12/01/98 182,008 182,008
Deutsche Bank 5.40%, dated 11/30/98, matures 12/01/98 24,126 24,126 24,126 24,126
Greenwich 5.39%, dated 11/30/98, matures 12/01/98 53,068 53,068
J.P. Morgan 5.40%, dated 11/30/98, matures 12/01/98 21,952 21,952 21,952 21,952
Merrill Lynch 5.40%, dated 11/30/98, matures 12/01/98 44,960 44,960 44,960 44,960
Morgan Stanley 5.39%, dated 11/30/98, matures 12/01/98 36,002 36,003
Paine Webber 5.40%, dated 11/30/98, matures 12/01/98 92,924 92,924 92,924 92,924
Prudential Bache 5.40%, dated 11/30/98, matures 12/01/98 17,353 17,353 17,354 17,353
Salomon Brothers 5.39%, dated 11/30/98, matures 12/01/98 20,004 20,004
- ----------------------------------------------------------------------------------------------------------------------------------
Total Repurchase Agreements (Cost $527,553) 214,320 527,553
- ----------------------------------------------------------------------------------------------------------------------------------
Total Investments--101.3%
(Cost $3,834,876) 881,901 2,613,144
- ----------------------------------------------------------------------------------------------------------------------------------
Other Assets and Liabilities, Net--(1.3%) 3,379 (50,933)
- ----------------------------------------------------------------------------------------------------------------------------------
Total Net Assets--100.0% 885,280 2,562,211
- ----------------------------------------------------------------------------------------------------------------------------------
(A) Adjustable Rate Security--The rate reflected on the Statement of Net Assets
is the rate in effect on November 30, 1998. The date reported on the Statement
of Net Assets is the later of the date on which the security can be redeemed at
par or the next date on which the rate of interest is adjusted.
Cl-Class
FFCB-Federal Farm Credit Bank
FNMA-Federal National Mortgage Association
MTN-Medium Term Note
Ser-Series
SLMA-Student Loan Marketing Association
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Investment Grade Bond Fund
CrestFunds Intermediate Bond Fund
November 30, 1998
-------------------------------------
STI Classic Investment
Grade Bond Fund
- -------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- -------------------------------------------------------------------------------------------------------------------------------
U.S. Treasury Obligations--14.0%
U.S. Treasury Bonds 7.500% 11/15/16 46,250 57,912
U.S. Treasury Bonds 8.125% 08/15/19 62,000 83,430
U.S. Treasury Bonds 6.125% 11/15/27
U.S. Treasury Notes 5.625% 12/31/02 6,815 7,047
U.S. Treasury Notes 5.250% 11/15/28
- -------------------------------------------------------------------------------------------------------------------------------
Total U.S. Treasury Obligations (Cost $142,590) 148,389
- -------------------------------------------------------------------------------------------------------------------------------
U.S. Government Agency Obligation--2.0%
FHLMC 5.125% 10/15/08 23,250 22,921
- -------------------------------------------------------------------------------------------------------------------------------
Total U.S. Government Agency Obligation (Cost $22,800) 22,921
- -------------------------------------------------------------------------------------------------------------------------------
U.S. Agency Mortgage Backed Obligations--39.3%
FHLMC Pool E00412 7.000% 01/01/11
FHLMC Pool G10664 7.000% 02/01/12
FHLMC Pool G40156 8.000% 06/01/02 2,755 2,818
FHLMC Pool G40223 7.500% 09/01/03 8,911 9,101
FHLMC REMIC Ser 1585 E 5.750% 06/15/16
FHLMC REMIC Ser 1726 B 6.750% 11/15/04
FHLMC REMIC Ser 1934 E 6.500% 02/15/12
FHLMC REMIC Ser 2061 PC 6.250% 10/15/20
FNMA Pool 250820 7.000% 01/01/27
FNMA Pool 250951 7.500% 06/01/27
FNMA Pool 251115 7.500% 08/01/27
FNMA Pool 251502 6.500% 02/01/13
FNMA Pool 251571 6.500% 02/01/13
FNMA Pool 313635 7.000% 10/01/03 31,665 32,338
FNMA Pool 313737 7.500% 09/01/27
FNMA Pool 358491 7.500% 12/01/26
FNMA Pool 373169 7.500% 03/01/27
FNMA Pool 378999 7.500% 05/01/27
FNMA Pool 394212 7.500% 07/01/27
FNMA Pool 394345 7.500% 07/01/27
FNMA Pool 395051 6.500% 02/01/13
FNMA Pool 397091 7.500% 10/01/27
FNMA Pool 400521 7.500% 10/01/07
FNMA Pool 401402 7.500% 10/01/27
FNMA Pool 402136 7.500% 10/01/27
FNMA Pool 402895 7.500% 01/01/28
FNMA Pool 403467 7.500% 05/01/28
FNMA Pool 405102 7.500% 08/01/27
FNMA Pool 407454 7.500% 11/01/27
FNMA Pool 407612 7.500% 12/01/27
------------------------------------ ----------------------------------
CrestFunds Intermediate
Bond Fund Pro Forma Combined
- ----------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- ----------------------------------------------------------------------------------------------------------------------------------
U.S. Treasury Obligations--14.0%
U.S. Treasury Bonds 46,250 57,912
U.S. Treasury Bonds 62,000 83,430
U.S. Treasury Bonds 10,900 12,304 10,900 12,304
U.S. Treasury Notes 6,815 7,047
U.S. Treasury Notes 3,500 3,596 3,500 3,596
- ----------------------------------------------------------------------------------------------------------------------------------
Total U.S. Treasury Obligations (Cost $142,590) 15,900 164,289
- ----------------------------------------------------------------------------------------------------------------------------------
U.S. Government Agency Obligation--2.0%
FHLMC 23,250 22,921
- ----------------------------------------------------------------------------------------------------------------------------------
Total U.S. Government Agency Obligation (Cost $22,800) - 22,921
- ----------------------------------------------------------------------------------------------------------------------------------
U.S. Agency Mortgage Backed Obligations--39.3%
FHLMC Pool E00412 1,759 1,799 1,759 1,799
FHLMC Pool G10664 9,996 10,227 9,996 10,227
FHLMC Pool G40156 2,755 2,818
FHLMC Pool G40223 8,911 9,101
FHLMC REMIC Ser 1585 E 3,480 3,478 3,480 3,478
FHLMC REMIC Ser 1726 B 7,000 7,143 7,000 7,143
FHLMC REMIC Ser 1934 E 9,243 9,483 9,243 9,483
FHLMC REMIC Ser 2061 PC 8,460 8,590 8,460 8,590
FNMA Pool 250820 8,546 8,725 8,546 8,725
FNMA Pool 250951 89 92 89 92
FNMA Pool 251115 85 87 85 87
FNMA Pool 251502 389 394 389 394
FNMA Pool 251571 4,741 4,810 4,741 4,810
FNMA Pool 313635 31,665 32,338
FNMA Pool 313737 515 530 515 530
FNMA Pool 358491 217 223 217 223
FNMA Pool 373169 68 70 68 70
FNMA Pool 378999 482 496 482 496
FNMA Pool 394212 227 233 227 233
FNMA Pool 394345 483 496 483 496
FNMA Pool 395051 1,848 1,876 1,848 1,876
FNMA Pool 397091 542 557 542 557
FNMA Pool 400521 233 240 233 240
FNMA Pool 401402 239 246 239 246
FNMA Pool 402136 497 511 497 511
FNMA Pool 402895 208 214 208 214
FNMA Pool 403467 96 99 96 99
FNMA Pool 405102 95 97 95 97
FNMA Pool 407454 218 224 218 224
FNMA Pool 407612 68 69 68 69
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Investment Grade Bond Fund
CrestFunds Intermediate Bond Fund
November 30, 1998
-------------------------------------
STI Classic Investment
Grade Bond Fund
- ---------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- ---------------------------------------------------------------------------------------------------------------------------------
FNMA Pool 407841 7.500% 12/01/27
FNMA Pool 407886 6.500% 02/01/13
FNMA Pool 407890 6.500% 02/01/13
FNMA Pool 409201 6.500% 01/01/13
FNMA Pool 409446 7.500% 01/01/28
FNMA Pool 411360 7.500% 01/01/28
FNMA Pool 412223 7.500% 01/01/28
FNMA Pool 413994 6.500% 01/01/13
FNMA Pool 414673 7.500% 04/01/28
FNMA Pool 414887 6.500% 02/01/13
FNMA Pool 415853 7.500% 01/01/28
FNMA Pool 416896 7.500% 05/01/28
FNMA Pool 419054 7.500% 04/01/28
FNMA Pool 419576 7.500% 02/01/28
FNMA Pool 422659 7.500% 06/01/28
FNMA Pool 424174 7.500% 04/01/28
FNMA Pool 424908 7.500% 04/01/28
FNMA Pool 425123 7.500% 05/01/28
FNMA Pool 425233 7.500% 04/01/28
FNMA Pool 425956 7.500% 05/01/28
FNMA Pool 428402 7.500% 04/01/28
FNMA Pool 447023 6.500% 02/01/13
FNMA REMIC Ser 1993-12 K 6.500% 10/25/21
FNMA REMIC Ser 1997-42 ZC 6.500% 07/18/27
FNMA REMIC Ser 1997-63 PC 6.500% 03/18/26
FNMA REMIC Ser 1998-8 PB 6.250% 06/18/19
FNMA REMIC Ser 1998-17 TC 6.250% 08/18/21
FNMA REMIC Ser 1998-17 TC 6.250% 08/18/21
FNMA REMIC Ser 1998-44 QD 6.000% 07/18/16
FNMA TBA 6.000% 12/15/13
GNMA Pool 353157 7.000% 12/15/27
GNMA Pool 347246 7.000% 04/15/27
GNMA Pool 372462 7.000% 12/15/27
GNMA Pool 376345 6.500% 12/15/23
GNMA Pool 377447 7.000% 01/15/27
GNMA Pool 387124 7.000% 09/15/25
GNMA Pool 393375 7.000% 02/15/27
GNMA Pool 399119 7.000% 02/15/27
GNMA Pool 402549 7.000% 04/15/26
GNMA Pool 412383 7.000% 12/15/27
GNMA Pool 429349 7.000% 03/15/26
GNMA Pool 430006 7.000% 11/15/27
GNMA Pool 432390 7.000% 03/15/27
GNMA Pool 433369 7.000% 01/15/27
------------------------------------ ----------------------------------
CrestFunds Intermediate
Bond Fund Pro Forma Combined
- --------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- --------------------------------------------------------------------------------------------------------------------------------
FNMA Pool 407841 621 639 621 639
FNMA Pool 407886 874 887 874 887
FNMA Pool 407890 374 380 374 380
FNMA Pool 409201 950 964 950 964
FNMA Pool 409446 248 255 248 255
FNMA Pool 411360 95 98 95 98
FNMA Pool 412223 524 538 524 538
FNMA Pool 413994 876 889 876 889
FNMA Pool 414673 486 500 486 500
FNMA Pool 414887 1,814 1,841 1,814 1,841
FNMA Pool 415853 540 555 540 555
FNMA Pool 416896 504 518 504 518
FNMA Pool 419054 79 81 79 81
FNMA Pool 419576 270 278 270 278
FNMA Pool 422659 104 107 104 107
FNMA Pool 424174 498 512 498 512
FNMA Pool 424908 87 90 87 90
FNMA Pool 425123 100 103 100 103
FNMA Pool 425233 229 235 229 235
FNMA Pool 425956 216 222 216 222
FNMA Pool 428402 277 285 277 285
FNMA Pool 447023 1,674 1,698 1,674 1,698
FNMA REMIC Ser 1993-12 K 4,500 4,561 4,500 4,561
FNMA REMIC Ser 1997-42 ZC 12,634 12,458 12,634 12,458
FNMA REMIC Ser 1997-63 PC 9,160 9,526 9,160 9,526
FNMA REMIC Ser 1998-8 PB 8,530 8,805 8,530 8,805
FNMA REMIC Ser 1998-17 TC 6,675 6,769 6,675 6,769
FNMA REMIC Ser 1998-17 TC 360 364 360 364
FNMA REMIC Ser 1998-44 QD 9,000 8,997 9,000 8,997
FNMA TBA 16,965 16,970 16,965 16,970
GNMA Pool 353157 643 658 643 658
GNMA Pool 347246 130 133 130 133
GNMA Pool 372462 750 768 750 768
GNMA Pool 376345 6,556 6,623 6,556 6,623
GNMA Pool 377447 396 406 396 406
GNMA Pool 387124 375 384 375 384
GNMA Pool 393375 47 48 47 48
GNMA Pool 399119 514 526 514 526
GNMA Pool 402549 396 406 396 406
GNMA Pool 412383 467 478 467 478
GNMA Pool 429349 325 332 325 332
GNMA Pool 430006 99 101 99 101
GNMA Pool 432390 479 495 479 495
GNMA Pool 433369 412 422 412 422
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Investment Grade Bond Fund
CrestFunds Intermediate Bond Fund
November 30, 1998
--------------------------------------
STI Classic Investment
Grade Bond Fund
- ---------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- ---------------------------------------------------------------------------------------------------------------------------------
GNMA Pool 433594 6.500% 02/15/28
GNMA Pool 440185 7.000% 02/15/27
GNMA Pool 440268 7.000% 03/15/27
GNMA Pool 441681 7.000% 12/15/27
GNMA Pool 441790 7.000% 02/15/27
GNMA Pool 442007 7.000% 03/15/27
GNMA Pool 443942 7.000% 04/15/27
GNMA Pool 448095 6.500% 02/15/28
GNMA Pool 450663 6.500% 03/15/28
GNMA Pool 453303 7.000% 08/15/27
GNMA Pool 453416 7.000% 11/15/27
GNMA Pool 454475 6.500% 09/15/28
GNMA Pool 455015 7.000% 10/15/27
GNMA Pool 456254 6.500% 04/15/28
GNMA Pool 456558 7.000% 10/15/27
GNMA Pool 457089 6.500% 09/15/28
GNMA Pool 457558 7.000% 12/15/27
GNMA Pool 458708 7.000% 11/15/27
GNMA Pool 458911 6.500% 08/15/28
GNMA Pool 459132 7.000% 12/15/27
GNMA Pool 459520 7.000% 03/15/28
GNMA Pool 459593 7.000% 03/15/28
GNMA Pool 459702 7.000% 11/15/27
GNMA Pool 459960 7.000% 03/15/28
GNMA Pool 460007 6.500% 03/15/28
GNMA Pool 460253 6.500% 03/15/28
GNMA Pool 460254 6.500% 03/15/28
GNMA Pool 460282 6.500% 03/15/28
GNMA Pool 460484 6.500% 03/15/28
GNMA Pool 460658 7.000% 12/15/27
GNMA Pool 460928 7.000% 10/15/27
GNMA Pool 461010 7.000% 11/15/27
GNMA Pool 461064 7.000% 12/15/27
GNMA Pool 461086 7.000% 12/15/27
GNMA Pool 462268 7.000% 11/15/27
GNMA Pool 462388 7.000% 12/15/27
GNMA Pool 462432 7.000% 12/15/27
GNMA Pool 463640 6.500% 03/15/28
GNMA Pool 463641 6.500% 03/15/28
GNMA Pool 465364 6.500% 08/15/28
GNMA Pool 465387 6.500% 02/15/28
GNMA Pool 465784 7.000% 04/15/28
GNMA Pool 471087 7.000% 08/15/28
GNMA Pool 471102 6.500% 05/15/28
------------------------------------ ----------------------------------
CrestFunds Intermediate
Bond Fund Pro Forma Combined
- -----------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- -----------------------------------------------------------------------------------------------------------------------------
GNMA Pool 433594 191 193 191 193
GNMA Pool 440185 499 511 499 511
GNMA Pool 440268 521 534 521 534
GNMA Pool 441681 86 88 86 88
GNMA Pool 441790 49 51 49 51
GNMA Pool 442007 340 349 340 349
GNMA Pool 443942 329 337 329 337
GNMA Pool 448095 882 891 882 891
GNMA Pool 450663 880 889 880 889
GNMA Pool 453303 618 633 618 633
GNMA Pool 453416 84 86 84 86
GNMA Pool 454475 43 43 43 43
GNMA Pool 455015 24 25 24 25
GNMA Pool 456254 408 412 408 412
GNMA Pool 456558 392 401 392 401
GNMA Pool 457089 499 504 499 504
GNMA Pool 457558 742 759 742 759
GNMA Pool 458708 804 823 804 823
GNMA Pool 458911 36 36 36 36
GNMA Pool 459132 277 284 277 284
GNMA Pool 459520 65 66 65 66
GNMA Pool 459593 262 268 262 268
GNMA Pool 459702 155 159 155 159
GNMA Pool 459960 269 276 269 276
GNMA Pool 460007 692 700 692 700
GNMA Pool 460253 119 120 119 120
GNMA Pool 460254 1,914 1,934 1,914 1,934
GNMA Pool 460282 126 128 126 128
GNMA Pool 460484 1,502 1,518 1,502 1,518
GNMA Pool 460658 825 845 825 845
GNMA Pool 460928 282 289 282 289
GNMA Pool 461010 321 329 321 329
GNMA Pool 461064 581 595 581 595
GNMA Pool 461086 659 675 659 675
GNMA Pool 462268 791 810 791 810
GNMA Pool 462388 811 831 811 831
GNMA Pool 462432 67 68 67 68
GNMA Pool 463640 1,150 1,162 1,150 1,162
GNMA Pool 463641 1,984 2,005 1,984 2,005
GNMA Pool 465364 161 162 161 162
GNMA Pool 465387 421 425 421 425
GNMA Pool 465784 638 654 638 654
GNMA Pool 471087 47 48 47 48
GNMA Pool 471102 454 459 454 459
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Investment Grade Bond Fund
CrestFunds Intermediate Bond Fund
November 30, 1998
------------------------------------
STI Classic Investment
Grade Bond Fund
- ---------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- ---------------------------------------------------------------------------------------------------------------------------------
GNMA Pool 475111 6.500% 09/15/28
GNMA Pool 486543 6.500% 09/15/28
GNMA Pool 780332 8.000% 11/15/09
GNMA Pool 780463 7.000% 11/15/26
GNMA Pool 780525 7.000% 03/15/27
GNMA Pool 780651 7.000% 10/15/27
GNMA Pool 780903 8.000% 12/15/22 107,000 111,414
GNMA TBA 7.000% 11/19/28 92,000 94,156
GNMA TBA 6.500% 12/17/28
GNMA TBA 7.000% 12/17/28
- ---------------------------------------------------------------------------------------------------------------------------------
Total U.S. Agency Mortgage Backed Obligations (Cost $456,940) 249,827
- ---------------------------------------------------------------------------------------------------------------------------------
Corporate Obligations--40.2%
Finance--27.0%
Americal Financial Group 7.125% 12/15/07
Bank of Boston 6.625% 12/01/05 2,500 2,606
Bear Stearns 6.250% 07/15/05 9,500 9,286
Capital One 6.530% 11/26/99 14,500 14,609
Capital One MTN 6.830% 05/17/99
Central Fidelity 8.150% 11/15/02
Conseco 6.800% 06/15/05 11,450 10,992
Conseco 6.400% 06/15/11 11,500 11,716
Countrywide Home Loan MTN 6.510% 02/11/05 23,300 23,329
Finova Capital 6.250% 11/01/02 11,625 11,640
Ford Motor Credit 6.500% 02/28/02 23,500 24,234
Great Western Financial 8.600% 02/01/02 9,800 10,547
Homeside Lending MTN 6.875% 05/15/00 10,235 10,440
Household Finance 6.500% 11/15/08 7,000 7,219
Household Finance MTN 6.250% 08/15/03
Ikon Capital MTN 6.730% 06/15/01 13,000 13,357
Jefferies Group, Callable 05/01/99 @ 103 8.875% 05/01/04
Lehman Brothers 10.000% 05/15/99
Liberty Property MTN 6.600% 06/05/02 12,000 12,285
Macsaver Financial Services 7.875% 08/01/03
Merrill Lynch 6.875% 11/15/18 8,500 8,925
Merrill Lynch MTN 6.060% 10/15/01 24,200 24,472
Morgan Stanley MTN 6.090% 03/09/01 12,000 12,105
Provident 7.000% 07/15/18 16,500 16,087
Salomon 7.300% 05/15/02 20,000 20,850
Salomon 6.250% 01/15/05 20,000 20,075
Sprint Capital 6.125% 11/15/08 11,625 11,814
- ---------------------------------------------------------------------------------------------------------------------------------
276,588
- ---------------------------------------------------------------------------------------------------------------------------------
----------------------------------- ---------------------------------
CrestFunds Intermediate
Bond Fund Pro Forma Combined
- -----------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- -----------------------------------------------------------------------------------------------------------------------------------
GNMA Pool 475111 494 499 494 499
GNMA Pool 486543 494 499 494 499
GNMA Pool 780332 6,835 7,081 6,835 7,081
GNMA Pool 780463 545 559 545 559
GNMA Pool 780525 750 768 750 768
GNMA Pool 780651 145 149 145 149
GNMA Pool 780903 107,000 111,414
GNMA TBA 92,000 94,156
GNMA TBA 8,185 8,264 8,185 8,264
GNMA TBA 17,785 18,202 17,785 18,202
- -----------------------------------------------------------------------------------------------------------------------------------
Total U.S. Agency Mortgage Backed Obligations (Cost $456,940) 211,310 461,137
- -----------------------------------------------------------------------------------------------------------------------------------
Corporate Obligations--40.2%
Finance--27.0%
Americal Financial Group 7,000 7,429 7,000 7,429
Bank of Boston 2,500 2,606
Bear Stearns 9,500 9,286
Capital One 14,500 14,609
Capital One MTN 2,300 2,311 2,300 2,311
Central Fidelity 3,000 3,326 3,000 3,326
Conseco 11,450 10,992
Conseco 11,500 11,716
Countrywide Home Loan MTN 23,300 23,329
Finova Capital 11,625 11,640
Ford Motor Credit 23,500 24,234
Great Western Financial 9,800 10,547
Homeside Lending MTN 10,235 10,440
Household Finance 7,000 7,219
Household Finance MTN 5,825 5,949 5,825 5,949
Ikon Capital MTN 13,000 13,357
Jefferies Group, Callable 05/01/99 @ 103 7,000 7,761 7,000 7,761
Lehman Brothers 3,000 3,041 3,000 3,041
Liberty Property MTN 12,000 12,285
Macsaver Financial Services 9,550 9,538 9,550 9,538
Merrill Lynch 8,500 8,925
Merrill Lynch MTN 24,200 24,472
Morgan Stanley MTN 12,000 12,105
Provident 16,500 16,087
Salomon 20,000 20,850
Salomon 20,000 20,075
Sprint Capital 11,625 11,814
- -----------------------------------------------------------------------------------------------------------------------------------
39,355 315,943
- -----------------------------------------------------------------------------------------------------------------------------------
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Investment Grade Bond Fund
CrestFunds Intermediate Bond Fund
November 30, 1998
-------------------------------------
STI Classic Investment
Grade Bond Fund
- ---------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- ---------------------------------------------------------------------------------------------------------------------------------
Industrial--13.2%
American Home Products 7.900% 02/15/05 21,300 23,936
Bausch & Lomb 6.150% 08/01/01 12,000 12,090
Bausch & Lomb 6.750% 12/15/04 11,800 12,464
Dillards 6.430% 08/01/04 27,000 27,877
Ford Motor 6.625% 10/01/28
Petroleum Geo-Services 7.125% 03/30/28
Philip Morris 7.250% 09/15/01 24,500 25,603
Philip Morris 7.125% 08/15/02
Philip Morris 7.500% 04/01/04 14,500 15,406
Praxair 6.900% 11/01/06 17,725 18,301
Western Resources 6.250% 08/15/03 11,000 11,110
- ---------------------------------------------------------------------------------------------------------------------------------
146,787
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
Total Corporate Obligations (Cost $462,244) 423,375
- ---------------------------------------------------------------------------------------------------------------------------------
Asset Backed Securities--2.0%
American Express Master Trust, Ser 1992-2 A 6.600% 05/15/00
Chase Credit Card Master Trust, Ser 1997-5 A 6.194% 08/15/05
Discover Card Master Trust I, Ser 1998-4 A 5.750% 10/16/03
EQCC Home Equity Loan Trust, Ser 1994-1 A 5.800% 03/15/09
Olympic Automobile Receivables Trust, Ser 1995-D A4 6.050% 11/15/00
- ---------------------------------------------------------------------------------------------------------------------------------
Total Asset Backed Securities (Cost $23,729) -
- ---------------------------------------------------------------------------------------------------------------------------------
Mortgage Backed Securities--0.6%
Merrill Lynch Mortgage Investors, Ser 1998-C1 A1 6.310% 11/15/26
Merrill Lynch Mortgage Investors, Ser 1998-C2 D (A) 6.957% 02/15/30
- ---------------------------------------------------------------------------------------------------------------------------------
Total Mortgage Backed Securities (Cost $7,562) -
- ---------------------------------------------------------------------------------------------------------------------------------
Municipal Bond--0.3%
Los Angeles County, CA, Taxable GO, Ser A, AMBAC 8.000% 06/30/01
- ---------------------------------------------------------------------------------------------------------------------------------
Total Municipal Bond (Cost $3,692) -
- ---------------------------------------------------------------------------------------------------------------------------------
Commerical Paper--0.1%
Peacock Funding 5.200% 02/11/99
- ---------------------------------------------------------------------------------------------------------------------------------
Total Commerical Paper (Cost $1,331) -
- ---------------------------------------------------------------------------------------------------------------------------------
Cash Equivalent--1.3%
Aim Liquid Assets Portfolio
- ---------------------------------------------------------------------------------------------------------------------------------
Total Cash Equivalent (Cost $15,635) -
- ---------------------------------------------------------------------------------------------------------------------------------
Repurchase Agreements--11.3%
Deutsche Bank, 5.25%, dated 11/30/98, matures 12/01/98 81,892 81,892
Greenwich, 5.25%, dated 11/30/98, matures 12/01/98 9,229 9,229
J.P. Morgan 5.45%, dated 11/30/98, matures 12/01/98
------------------------------------ ----------------------------------
CrestFunds Intermediate
Bond Fund Pro Forma Combined
- -----------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- -----------------------------------------------------------------------------------------------------------------------------------
Industrial--13.2%
American Home Products 21,300 23,936
Bausch & Lomb 12,000 12,090
Bausch & Lomb 11,800 12,464
Dillards 27,000 27,877
Ford Motor 2,085 2,179 2,085 2,179
Petroleum Geo-Services 4,945 4,747 4,945 4,747
Philip Morris 24,500 25,603
Philip Morris 1,000 1,042 1,000 1,042
Philip Morris 14,500 15,406
Praxair 17,725 18,301
Western Resources 11,000 11,110
- -----------------------------------------------------------------------------------------------------------------------------------
7,968 154,755
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Total Corporate Obligations (Cost $462,244) 47,323 470,698
- -----------------------------------------------------------------------------------------------------------------------------------
Asset Backed Securities--2.0%
American Express Master Trust, Ser 1992-2 A 6,350 6,389 6,350 6,389
Chase Credit Card Master Trust, Ser 1997-5 A 7,215 7,436 7,215 7,436
Discover Card Master Trust I, Ser 1998-4 A 8,190 8,264 8,190 8,264
EQCC Home Equity Loan Trust, Ser 1994-1 A 548 555 548 555
Olympic Automobile Receivables Trust, Ser 1995-D A4 1,366 1,368 1,366 1,368
- -----------------------------------------------------------------------------------------------------------------------------------
Total Asset Backed Securities (Cost $23,729) 24,012 24,012
- -----------------------------------------------------------------------------------------------------------------------------------
Mortgage Backed Securities--0.6%
Merrill Lynch Mortgage Investors, Ser 1998-C1 A1 413 423 413 423
Merrill Lynch Mortgage Investors, Ser 1998-C2 D (A) 7,100 7,038 7,100 7,038
- -----------------------------------------------------------------------------------------------------------------------------------
Total Mortgage Backed Securities (Cost $7,562) 7,461 7,461
- -----------------------------------------------------------------------------------------------------------------------------------
Municipal Bond--0.3%
Los Angeles County, CA, Taxable GO, Ser A, AMBAC 3,480 3,702 3,480 3,702
- -----------------------------------------------------------------------------------------------------------------------------------
Total Municipal Bond (Cost $3,692) 3,702 3,702
- -----------------------------------------------------------------------------------------------------------------------------------
Commerical Paper--0.1%
Peacock Funding 1,345 1,331 1,345 1,331
- -----------------------------------------------------------------------------------------------------------------------------------
Total Commerical Paper (Cost $1,331) 1,331 1,331
- -----------------------------------------------------------------------------------------------------------------------------------
Cash Equivalent--1.3%
Aim Liquid Assets Portfolio 15,635 15,635 15,635 15,635
- -----------------------------------------------------------------------------------------------------------------------------------
Total Cash Equivalent (Cost $15,635) 15,635 15,635
- -----------------------------------------------------------------------------------------------------------------------------------
Repurchase Agreements--11.3%
Deutsche Bank, 5.25%, dated 11/30/98, matures 12/01/98 81,892 81,892
Greenwich, 5.25%, dated 11/30/98, matures 12/01/98 9,229 9,229
J.P. Morgan 5.45%, dated 11/30/98, matures 12/01/98 30,167 30,167 30,167 30,167
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Investment Grade Bond Fund
CrestFunds Intermediate Bond Fund
November 30, 1998
-------------------------------------
STI Classic Investment
Grade Bond Fund
- ----------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- ----------------------------------------------------------------------------------------------------------
SBC Warburg, 5.25%, dated 11/30/98, matures 12/01/98 11,835 11,835
- ----------------------------------------------------------------------------------------------------------
Total Repurchase Agreements (Cost $133,123) 102,956
- ----------------------------------------------------------------------------------------------------------
Total Investments--111.1%
(Cost $1,269,646) 947,468
- ----------------------------------------------------------------------------------------------------------
Other Assets and Liabilities, Net--(11.1%) (87,663)
- ----------------------------------------------------------------------------------------------------------
Total Net Assets--100.0% 859,805
- ----------------------------------------------------------------------------------------------------------
------------------------------------ ----------------------------------
CrestFunds Intermediate
Bond Fund Pro Forma Combined
- --------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- --------------------------------------------------------------------------------------------------------------------------------
SBC Warburg, 5.25%, dated 11/30/98, matures 12/01/98 11,835 11,835
- --------------------------------------------------------------------------------------------------------------------------------
Total Repurchase Agreements (Cost $133,123) 30,167 133,123
- --------------------------------------------------------------------------------------------------------------------------------
Total Investments--111.1%
(Cost $1,269,646) 356,841 1,304,309
- --------------------------------------------------------------------------------------------------------------------------------
Other Assets and Liabilities, Net--(11.1%) (42,666) (130,329)
- --------------------------------------------------------------------------------------------------------------------------------
Total Net Assets--100.0% 314,175 1,173,980
- --------------------------------------------------------------------------------------------------------------------------------
(A) Adjustable Rate Security--The rate reflected on the Statement of Net Assets
is the rate in effect on November 30, 1998. The date reported on the Statement
of Net Assets is the later of the date on which the security can be redeemed at
par or the next date on which the rate of interest is adjusted.
AMBAC-American Municipal Bond Assurance Corporation
Cl - Class
FHLMC-Federal Home Loan Mortgage Corporation
FNMA-Federal National Mortgage Association
GNMA-Government National Mortgage Association
GO-General Obligation
MTN-Medium Term Note
REMIC-Real Estate Mortgage Investment Conduit
Ser-Series
TBA-To Be Announced
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Short-Term Bond Fund
Crest Funds Limited Term Bond Fund
November 30, 1998
-------------------------------
STI Classic Short-Term
Bond
- --------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- --------------------------------------------------------------------------------------------------------------------
U.S. Treasury Obligations--20.7%
U.S. Treasury Notes 5.500% 02/28/99 4,750 4,761
U.S. Treasury Notes 6.250% 05/31/99 7,000 7,055
U.S. Treasury Notes 5.875% 07/31/99 5,000 5,037
U.S. Treasury Notes 5.625% 10/31/99 3,000 3,025
U.S. Treasury Notes 6.375% 09/30/01 3,000 3,135
U.S. Treasury Notes 7.500% 11/15/01 9,000 9,700
U.S. Treasury Notes 7.875% 11/15/04 5,000 5,799
U.S. Treasury STRIPS 0.000% 08/15/03 1,250 1,008
U.S. Treasury STRIPS 0.000% 11/15/04 8,000 6,042
- --------------------------------------------------------------------------------------------------------------------
Total U.S. Treasury Obligations (Cost $44,805) 45,562
- --------------------------------------------------------------------------------------------------------------------
Corporate Obligations--40.1%
Agriculture--2.4%
Alcan Aluminum 5.875% 04/01/00
- --------------------------------------------------------------------------------------------------------------------
-
- --------------------------------------------------------------------------------------------------------------------
Banks--1.9%
Capital One Bank MTN 6.830% 05/17/99
Popular North America 6.625% 10/27/02
- --------------------------------------------------------------------------------------------------------------------
-
- --------------------------------------------------------------------------------------------------------------------
Building & Construction Supplies--0.9%
Penn Central 9.750% 08/01/99
- --------------------------------------------------------------------------------------------------------------------
-
- --------------------------------------------------------------------------------------------------------------------
Communications Equipment--1.2%
US Cellular, Callable 08/15/04 @ 100 7.250% 08/15/07
- --------------------------------------------------------------------------------------------------------------------
-
- --------------------------------------------------------------------------------------------------------------------
Electrical Services--0.6%
Ohio Edison 6.875% 09/15/99
- --------------------------------------------------------------------------------------------------------------------
-
- --------------------------------------------------------------------------------------------------------------------
Finance--13.4%
American Express 8.500% 08/15/01 770 834
American Express 6.750% 06/23/04 3,000 3,184
American General 5.900% 01/15/03 2,000 2,017
American General 6.250% 03/15/03 1,100 1,123
Associates Corp NA MTN 7.080% 04/15/03 1,500 1,594
Associates Corp NA 6.450% 10/15/01 1,750 1,796
Bankers Trust New York 6.625% 07/30/99 2,250 2,258
Beneficial MTN 6.490% 09/27/00 1,000 1,015
Chrysler Financial 9.500% 12/15/99 1,000 1,041
------------------------------ -------------------------------
CrestFunds Limited
Term Bond Pro Forma Combined
- ---------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- ---------------------------------------------------------------------------------------------------------------------
U.S. Treasury Obligations--20.7%
U.S. Treasury Notes 4,750 4,761
U.S. Treasury Notes 7,000 7,055
U.S. Treasury Notes 5,000 5,037
U.S. Treasury Notes 3,000 3,025
U.S. Treasury Notes 3,000 3,135
U.S. Treasury Notes 9,000 9,700
U.S. Treasury Notes 5,000 5,799
U.S. Treasury STRIPS 1,250 1,008
U.S. Treasury STRIPS 8,000 6,042
- ---------------------------------------------------------------------------------------------------------------------
Total U.S. Treasury Obligations (Cost $44,805) - 45,562
- ---------------------------------------------------------------------------------------------------------------------
Corporate Obligations--40.1%
Agriculture--2.4%
Alcan Aluminum 2,000 2,017 2,000 2,017
- ---------------------------------------------------------------------------------------------------------------------
2,017 2,017
- ---------------------------------------------------------------------------------------------------------------------
Banks--1.9%
Capital One Bank MTN 2,000 2,010 2,000 2,010
Popular North America 2,000 2,097 2,000 2,097
- ---------------------------------------------------------------------------------------------------------------------
4,107 4,107
- ---------------------------------------------------------------------------------------------------------------------
Building & Construction Supplies--0.9%
Penn Central 2,000 2,052 2,000 2,052
- ---------------------------------------------------------------------------------------------------------------------
2,052 2,052
- ---------------------------------------------------------------------------------------------------------------------
Communications Equipment--1.2%
US Cellular, Callable 08/15/04 @ 100 2,525 2,645 2,525 2,645
- ---------------------------------------------------------------------------------------------------------------------
2,645 2,645
- ---------------------------------------------------------------------------------------------------------------------
Electrical Services--0.6%
Ohio Edison 1,300 1,313 1,300 1,313
- ---------------------------------------------------------------------------------------------------------------------
1,313 1,313
- ---------------------------------------------------------------------------------------------------------------------
Finance--13.4%
American Express 770 834
American Express 3,000 3,184
American General 2,000 2,017
American General 1,100 1,123
Associates Corp NA MTN 1,500 1,594
Associates Corp NA 1,750 1,796
Bankers Trust New York 2,250 2,258
Beneficial MTN 1,000 1,015
Chrysler Financial 1,000 1,041
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Short-Term Bond Fund
Crest Funds Limited Term Bond Fund
November 30, 1998
-------------------------------
STI Classic Short-Term
Bond
- --------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- --------------------------------------------------------------------------------------------------------------------
Dean Witter Discover MTN 6.000% 02/08/01 1,000 1,019
First Chicago NBD MTN 6.500% 11/01/01 2,250 2,323
Ford Motor Credit 6.500% 02/28/02 725 748
Ford Motor Credit 6.000% 01/14/03 2,000 2,045
General Motors Acceptance 5.750% 11/10/03 1,250 1,256
Household Finance 6.250% 08/15/03 2,000 2,042
International Lease MTN 5.500% 09/29/03 2,000 1,977
National City 6.750% 06/01/29 2,000 2,015
Norwest Financial 7.200% 04/01/04 1,000 1,083
- --------------------------------------------------------------------------------------------------------------------
29,370
- --------------------------------------------------------------------------------------------------------------------
Financial Services--2.0%
CIT Group Holdings 6.375% 08/01/02
Macsaver Financial Services 7.875% 08/01/03
- --------------------------------------------------------------------------------------------------------------------
Total Financial Services -
- --------------------------------------------------------------------------------------------------------------------
Industrial--13.3%
Clark Equipment 9.750% 03/01/01 1,750 1,901
Computer Associates 6.375% 04/15/05 2,300 2,260
Dayton Hudson 6.800% 10/01/01 2,250 2,323
Dayton Hudson 5.950% 06/15/10 500 504
General Foods 6.000% 06/15/01 500 498
IBM MTN 5.800% 05/15/01 1,250 1,270
Philip Morris 7.500% 01/15/02 1,250 1,319
RJR Nabisco 6.800% 09/01/01 1,500 1,543
Sears Roebuck Acceptance MTN 6.920% 06/17/04 2,250 2,416
Tenneco 10.075% 02/01/01 3,000 3,285
TRW MTN 9.000% 02/09/01 1,000 1,078
Union Pacific 7.060% 05/15/03 1,500 1,607
USAA, Cl B MTN 8.880% 09/21/99 2,000 2,054
Wal-Mart 5.850% 06/01/18 3,000 3,030
Walt Disney Euro MTN 6.250% 06/21/99 1,500 1,510
Walt Disney MTN 5.600% 01/13/00 2,500 2,513
- --------------------------------------------------------------------------------------------------------------------
29,111
- --------------------------------------------------------------------------------------------------------------------
Petroleum & Fuel Products--0.6%
Petroleum Geo-Services 7.500% 03/31/07
- --------------------------------------------------------------------------------------------------------------------
-
- --------------------------------------------------------------------------------------------------------------------
Real Estate Investment Trusts--0.9%
United Dominion Realty 7.250% 01/15/07
- --------------------------------------------------------------------------------------------------------------------
-
- --------------------------------------------------------------------------------------------------------------------
Security Brokerage/Dealers--1.6%
------------------------------ -------------------------------
CrestFunds Limited
Term Bond Pro Forma Combined
- ---------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- ---------------------------------------------------------------------------------------------------------------------
Dean Witter Discover MTN 1,000 1,019
First Chicago NBD MTN 2,250 2,323
Ford Motor Credit 725 748
Ford Motor Credit 2,000 2,045
General Motors Acceptance 1,250 1,256
Household Finance 2,000 2,042
International Lease MTN 2,000 1,977
National City 2,000 2,015
Norwest Financial 1,000 1,083
- ---------------------------------------------------------------------------------------------------------------------
- 29,370
- ---------------------------------------------------------------------------------------------------------------------
Financial Services--2.0%
CIT Group Holdings 1,345 1,384 1,345 1,384
Macsaver Financial Services 3,000 2,996 3,000 2,996
- ---------------------------------------------------------------------------------------------------------------------
Total Financial Services 4,380 4,380
- ---------------------------------------------------------------------------------------------------------------------
Industrial--13.3%
Clark Equipment 1,750 1,901
Computer Associates 2,300 2,260
Dayton Hudson 2,250 2,323
Dayton Hudson 500 504
General Foods 500 498
IBM MTN 1,250 1,270
Philip Morris 1,250 1,319
RJR Nabisco 1,500 1,543
Sears Roebuck Acceptance MTN 2,250 2,416
Tenneco 3,000 3,285
TRW MTN 1,000 1,078
Union Pacific 1,500 1,607
USAA, Cl B MTN 2,000 2,054
Wal-Mart 3,000 3,030
Walt Disney Euro MTN 1,500 1,510
Walt Disney MTN 2,500 2,513
- ---------------------------------------------------------------------------------------------------------------------
- 29,111
- ---------------------------------------------------------------------------------------------------------------------
Petroleum & Fuel Products--0.6%
Petroleum Geo-Services 1,255 1,316 1,255 1,316
- ---------------------------------------------------------------------------------------------------------------------
1,316 1,316
- ---------------------------------------------------------------------------------------------------------------------
Real Estate Investment Trusts--0.9%
United Dominion Realty 2,000 2,022 2,000 2,022
- ---------------------------------------------------------------------------------------------------------------------
2,022 2,022
- ---------------------------------------------------------------------------------------------------------------------
Security Brokerage/Dealers--1.6%
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Short-Term Bond Fund
Crest Funds Limited Term Bond Fund
November 30, 1998
-------------------------------
STI Classic Short-Term
Bond
- --------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- --------------------------------------------------------------------------------------------------------------------
Jefferies Group, Callable 05/01/99 @ 103 8.875% 05/01/04
Salomon Brothers 7.125% 08/01/99
- --------------------------------------------------------------------------------------------------------------------
-
- --------------------------------------------------------------------------------------------------------------------
Utilities--2.8%
Bellsouth Savings 9.125% 07/01/03 1,640 1,794
Indiana & Michigan Power MTN 6.400% 03/01/00 2,250 2,284
NYNEX Credit MTN 6.900% 06/15/99 2,000 2,016
- --------------------------------------------------------------------------------------------------------------------
6,094
- --------------------------------------------------------------------------------------------------------------------
Total Corporate Obligations (Cost $86,144) 64,575
- --------------------------------------------------------------------------------------------------------------------
U.S. Government Agency Obligation--0.5%
FFCB MTN 7.125% 06/01/01
- --------------------------------------------------------------------------------------------------------------------
Total U.S. Government Agency Obligation (Cost $1,002) -
- --------------------------------------------------------------------------------------------------------------------
U.S. Agency Mortgage Backed Obligations--23.3%
FHLB 5.510% 02/06/01 2,750 2,785
FHLMC 8.000% 01/01/00 354 364
FHLMC 6.500% 12/01/00 1,540 1,562
FHLMC 5.375% 04/13/00 1,000 1,010
FHLMC Pool E00412 7.000% 01/01/11
FHLMC Pool G10664 7.000% 02/01/12
FHLMC REMIC 1585 E 5.750% 06/15/16
FHLMC REMIC 2061 PC 6.250% 10/15/20
FNMA 8.500% 11/01/01 21 21
FNMA Pool 250820 7.000% 01/01/27
FNMA Pool 251761 6.500% 06/01/13
FNMA Pool 397657 7.500% 09/01/27
FNMA Pool 401494 7.500% 10/01/27
FNMA Pool 401899 7.500% 12/01/27
FNMA Pool 404124 7.500% 12/01/27
FNMA Pool 411484 7.500% 12/01/27
FNMA Pool 414639 7.500% 11/01/27
FNMA Pool 419420 7.500% 03/01/28
FNMA Pool 420787 6.500% 06/01/13
FNMA Pool 420917 7.500% 09/01/26
FNMA Pool 423276 7.500% 01/01/28
FNMA Pool 429562 7.500% 06/01/28
FNMA Pool 439745 6.500% 09/01/13
FNMA Pool 444572 6.500% 09/01/13
FNMA REMIC 1992-199 A 5.250% 11/25/99
FNMA REMIC 1996-30 PC 7.000% 11/25/20
FNMA REMIC 1998-44 QD 6.000% 07/18/16
FNMA REMIC 1998-8 PB 6.250% 06/18/19
------------------------------ -------------------------------
CrestFunds Limited
Term Bond Pro Forma Combined
- ---------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- ---------------------------------------------------------------------------------------------------------------------
Jefferies Group, Callable 05/01/99 @ 103 2,000 2,218 2,000 2,218
Salomon Brothers 1,300 1,316 1,300 1,316
- ----------------------------------------------------------------------------------------------------------------------
3,534 3,534
- ----------------------------------------------------------------------------------------------------------------------
Utilities--2.8%
Bellsouth Savings 1,640 1,794
Indiana & Michigan Power MTN 2,250 2,284
NYNEX Credit MTN 2,000 2,016
- ----------------------------------------------------------------------------------------------------------------------
- 6,094
- ----------------------------------------------------------------------------------------------------------------------
Total Corporate Obligations (Cost $86,144) 23,386 87,961
- ----------------------------------------------------------------------------------------------------------------------
U.S. Government Agency Obligation--0.5%
FFCB MTN 1,000 1,052 1,000 1,052
- ----------------------------------------------------------------------------------------------------------------------
Total U.S. Government Agency Obligation (Cost $1,002) 1,052 1,052
- ----------------------------------------------------------------------------------------------------------------------
U.S. Agency Mortgage Backed Obligations--23.3%
FHLB 2,750 2,785
FHLMC 354 364
FHLMC 1,540 1,562
FHLMC 1,000 1,010
FHLMC Pool E00412 1,413 1,446 1,413 1,446
FHLMC Pool G10664 3,865 3,953 3,865 3,953
FHLMC REMIC 1585 E 1,593 1,592 1,593 1,592
FHLMC REMIC 2061 PC 1,200 1,218 1,200 1,218
FNMA 21 21
FNMA Pool 250820 2,146 2,191 2,146 2,191
FNMA Pool 251761 2,816 2,858 2,816 2,858
FNMA Pool 397657 934 960 934 960
FNMA Pool 401494 873 898 873 898
FNMA Pool 401899 908 934 908 934
FNMA Pool 404124 665 683 665 683
FNMA Pool 411484 853 877 853 877
FNMA Pool 414639 804 827 804 827
FNMA Pool 419420 861 886 861 886
FNMA Pool 420787 1,967 1,997 1,967 1,997
FNMA Pool 420917 798 821 798 821
FNMA Pool 423276 910 936 910 936
FNMA Pool 429562 506 520 506 520
FNMA Pool 439745 1,963 1,992 1,963 1,992
FNMA Pool 444572 1,096 1,113 1,096 1,113
FNMA REMIC 1992-199 A 133 132 133 132
FNMA REMIC 1996-30 PC 2,600 2,652 2,600 2,652
FNMA REMIC 1998-44 QD 1,200 1,200 1,200 1,200
FNMA REMIC 1998-8 PB 2,575 2,658 2,575 2,658
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Short-Term Bond Fund
Crest Funds Limited Term Bond Fund
November 30, 1998
-------------------------------
STI Classic Short-Term
Bond
- --------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- --------------------------------------------------------------------------------------------------------------------
FNMA TBA 6.000% 12/15/13
GNMA Pool 359503 7.500% 04/15/24
GNMA Pool 359975 7.500% 01/15/24
GNMA Pool 398793 7.500% 07/15/26
GNMA Pool 399107 7.500% 02/15/27
GNMA Pool 410839 7.500% 11/15/25
GNMA Pool 417143 7.500% 10/15/25
GNMA Pool 431365 7.500% 10/15/26
GNMA Pool 439009 7.500% 10/15/26
GNMA Pool 439051 7.500% 02/15/27
GNMA Pool 443502 7.500% 07/15/27
GNMA Pool 780332 8.000% 11/15/09
GNMA TBA 6.500% 12/17/28
GNMA TBA 7.000% 12/17/28
- --------------------------------------------------------------------------------------------------------------------
Total U.S. Agency Mortgage Backed Obligations (Cost $50,630) 5,742
- --------------------------------------------------------------------------------------------------------------------
Asset-Backed Securities--12.7%
Advanta Credit Card Master Trust, Ser 1995 F A1 6.050% 08/01/03
American Express Master Trust, Ser 1192-2 A 6.600% 05/15/00
Arcadia Auto Receivables Trust, Ser 1997-B, Cl A3 6.300% 07/16/01 2,412 2,423
Chase Credit Card Master Trust, Ser 1997-5 A 6.194% 08/15/05
Chase Manhattan Grantor Trust, Ser 1995 - B A 5.900% 11/15/01
CoreStates Home Equity Trust, Ser 1994-1 A 6.650% 05/15/09
Discover Card Master Trust, Ser 1997-2, Cl A 6.792% 04/16/10 3,000 3,005
Discover Card Master Trust I, Ser 1998-4 A 5.750% 10/16/03
EQCC Home Equity Loan Trust, Ser 1994-1 A 5.800% 03/15/09
Equivantage, Ser 1996-1 A 6.550% 10/25/25
Metris Master Trust, Ser 1997-1, Cl A 6.870% 10/20/05 2,000 2,066
Money Store Home Equity Trust, Cl B 6.290% 01/15/06 3,214 3,210
Money Store Home Equity Trust, Cl B 6.415% 04/15/10 973 972
SLMA, Cl A 5.135% 04/25/04 671 664
SLMA, Cl A 5.050% 10/25/04 1,470 1,468
SLMA, Cl A 4.598% 04/25/06 4,092 4,035
Spiegel Master Trust, Ser 1995-A A 7.500% 09/15/04
- --------------------------------------------------------------------------------------------------------------------
Total Asset-Backed Securities (Cost $27,572) 17,843
- --------------------------------------------------------------------------------------------------------------------
Mortgage Backed Securities--0.8%
Merrill Lynch Mortgage Investors, Ser 1998-C2 D (A) 6.957% 02/15/30
- --------------------------------------------------------------------------------------------------------------------
Total Mortgage Backed Securities (Cost $1,812) -
- --------------------------------------------------------------------------------------------------------------------
Municipal Bond--0.5%
Los Angeles County, CA, Taxable GO, Ser A, AMBAC 8.000% 06/30/01
- --------------------------------------------------------------------------------------------------------------------
Total Municipal Bond (Cost $997) -
- --------------------------------------------------------------------------------------------------------------------
------------------------------ -------------------------------
CrestFunds Limited
Term Bond Pro Forma Combined
- ---------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- ---------------------------------------------------------------------------------------------------------------------
FNMA TBA 3,000 3,001 3,000 3,001
GNMA Pool 359503 57 59 57 59
GNMA Pool 359975 58 60 58 60
GNMA Pool 398793 349 361 349 361
GNMA Pool 399107 523 540 523 540
GNMA Pool 410839 427 441 427 441
GNMA Pool 417143 329 340 329 340
GNMA Pool 431365 455 470 455 470
GNMA Pool 439009 59 61 59 61
GNMA Pool 439051 27 28 27 28
GNMA Pool 443502 423 437 423 437
GNMA Pool 780332 1,594 1,652 1,594 1,652
GNMA TBA 1,500 1,515 1,500 1,515
GNMA TBA 3,000 3,070 3,000 3,070
- ----------------------------------------------------------------------------------------------------------------------
Total U.S. Agency Mortgage Backed Obligations (Cost $50,630) 45,379 51,121
- ----------------------------------------------------------------------------------------------------------------------
Asset-Backed Securities--12.7%
Advanta Credit Card Master Trust, Ser 1995 F A1 1,000 1,017 1,000 1,017
American Express Master Trust, Ser 1192-2 A 2,000 2,012 2,000 2,012
Arcadia Auto Receivables Trust, Ser 1997-B, Cl A3 2,412 2,423
Chase Credit Card Master Trust, Ser 1997-5 A 1,280 1,319 1,280 1,319
Chase Manhattan Grantor Trust, Ser 1995 - B A 257 258 257 258
CoreStates Home Equity Trust, Ser 1994-1 A 762 773 762 773
Discover Card Master Trust, Ser 1997-2, Cl A 3,000 3,005
Discover Card Master Trust I, Ser 1998-4 A 1,990 2,008 1,990 2,008
EQCC Home Equity Loan Trust, Ser 1994-1 A 665 673 665 673
Equivantage, Ser 1996-1 A 832 850 832 850
Metris Master Trust, Ser 1997-1, Cl A 2,000 2,066
Money Store Home Equity Trust, Cl B 3,214 3,210
Money Store Home Equity Trust, Cl B 973 972
SLMA, Cl A 671 664
SLMA, Cl A 1,470 1,468
SLMA, Cl A 4,092 4,035
Spiegel Master Trust, Ser 1995-A A 1,000 1,035 1,000 1,035
- ----------------------------------------------------------------------------------------------------------------------
Total Asset-Backed Securities (Cost $27,572) 9,945 27,788
- ----------------------------------------------------------------------------------------------------------------------
Mortgage Backed Securities--0.8%
Merrill Lynch Mortgage Investors, Ser 1998-C2 D (A) 1,800 1,784 1,800 1,784
- ----------------------------------------------------------------------------------------------------------------------
Total Mortgage Backed Securities (Cost $1,812) 1,784 1,784
- ----------------------------------------------------------------------------------------------------------------------
Municipal Bond--0.5%
Los Angeles County, CA, Taxable GO, Ser A, AMBAC 940 1,000 940 1,000
- ----------------------------------------------------------------------------------------------------------------------
Total Municipal Bond (Cost $997) 1,000 1,000
- ----------------------------------------------------------------------------------------------------------------------
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Short-Term Bond Fund
Crest Funds Limited Term Bond Fund
November 30, 1998
-------------------------------
STI Classic Short-Term
Bond
- --------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- --------------------------------------------------------------------------------------------------------------------
Commercial Paper--1.4%
Citibank Capital Markets 5.530% 01/06/99
Peacock Funding 5.200% 02/11/99
- --------------------------------------------------------------------------------------------------------------------
Total Commercial Paper (Cost $2,973) -
- --------------------------------------------------------------------------------------------------------------------
Cash Equivalents--3.0%
SEI Daily Income Trust Prime Obligation Portfolio 5.010% 2,935 2,935
Aim Liquid Assets Portfolio
- --------------------------------------------------------------------------------------------------------------------
Total Cash Equivalent (Cost $6,557) 2,935
- --------------------------------------------------------------------------------------------------------------------
Repurchase Agreement--2.1%
J.P. Morgan 5.57%, dated 11/30/98, matures 12/01/98
- --------------------------------------------------------------------------------------------------------------------
Total Repurchase Agreement (Cost $1,780) -
- --------------------------------------------------------------------------------------------------------------------
Total Investments --103.6%
(Cost $224,272) 136,657
- --------------------------------------------------------------------------------------------------------------------
Other Asset and Liabilities --(3.6%) (1,038)
- --------------------------------------------------------------------------------------------------------------------
Net Assets -- 100% 135,619
- --------------------------------------------------------------------------------------------------------------------
------------------------------ -------------------------------
CrestFunds Limited
Term Bond Pro Forma Combined
- ---------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- ---------------------------------------------------------------------------------------------------------------------
Commercial Paper--1.4%
Citibank Capital Markets 1,000 994 1,000 994
Peacock Funding 2,000 1,979 2,000 1,979
- ----------------------------------------------------------------------------------------------------------------------
Total Commercial Paper (Cost $2,973) 2,973 2,973
- ----------------------------------------------------------------------------------------------------------------------
Cash Equivalents--3.0%
SEI Daily Income Trust Prime Obligation Portfolio 2,935 2,935
Aim Liquid Assets Portfolio 3,622 3,622 3,622 3,622
- ----------------------------------------------------------------------------------------------------------------------
Total Cash Equivalent (Cost $6,557) 3,622 6,557
- ----------------------------------------------------------------------------------------------------------------------
Repurchase Agreement--2.1%
J.P. Morgan 5.57%, dated 11/30/98, matures 12/01/98 1,780 1,780 1,780 1,780
- ----------------------------------------------------------------------------------------------------------------------
Total Repurchase Agreement (Cost $1,780) 1,780 1,780
- ----------------------------------------------------------------------------------------------------------------------
Total Investments --103.6%
(Cost $224,272) 90,921 227,578
- ----------------------------------------------------------------------------------------------------------------------
Other Asset and Liabilities --(3.6%) (6,941) (7,979)
- ----------------------------------------------------------------------------------------------------------------------
Net Assets -- 100% 83,980 219,599
- ----------------------------------------------------------------------------------------------------------------------
(A) Ajustable Rate Securities - The rate reflected on the Statement of Net
Assets is the rate in effect on November 30, 1998. The date reported on the
Statement of Net Assets is the later of the date on which the security can be
redeemed at par or the next date on which the rate of interest is adjusted.
AMBAC - American Municipal Bond Assurance
Cl - Class
FFCB - Federal Farm Credit Bank
FHLB - Federal Home Loan Bank
FHLMC - Federal Home Loan Mortagage Corporation
FNMA - Federal National Mortgage Association
GNMA - Government National Mortgage Association
GO - General Obligation
MTN - Medium Term Note
REMIC - Real Estate Mortgage Investment Conduit
Ser - Series
SLMA - Student Loan Marketing Association
STRIPS-Separate Trading of Registered Principal & Interest Securities
TBA - To Be Announced
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds U.S. Government Securities Fund
Crest Funds Government Bond Fund
November 30, 1998
----------------------------------
STI Classic U.S.
Government Securities Fund
- ---------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- ---------------------------------------------------------------------------------------------------------------------------------
U.S. Treasury Obligations--19.3%
U.S. Treasury Bonds 7.750% 11/30/99 200 206
U.S. Treasury Bonds 7.250% 05/15/16 1,000 1,224
U.S. Treasury Bonds 6.875% 08/15/25 1,000 1,221
U.S. Treasury Bonds 6.625% 02/15/27
U.S. Treasury Bonds 6.125% 11/15/27
U.S. Treasury Bonds 6.000% 02/15/26 2,000 2,199
U.S. Treasury Bonds 5.250% 11/15/28
U.S. Treasury Notes 8.500% 11/15/00 1,000 1,072
U.S. Treasury Notes 8.000% 05/15/01 200 215
U.S. Treasury Notes 7.500% 11/15/01 200 216
U.S. Treasury Notes 7.500% 05/15/02 750 816
U.S. Treasury Notes 7.250% 05/15/04 500 560
U.S. Treasury Notes 7.875% 11/15/04 275 319
U.S. Treasury Notes 7.500% 02/15/05 500 573
U.S. Treasury Notes 6.500% 10/15/06 2,000 2,215
U.S. Treasury Notes 6.625% 05/15/07 1,050 1,179
U.S. Treasury Notes 7.625% 02/15/25 400 530
- ----------------------------------------------------------------------------------------------------------------------------------
Total U.S. Treasury Obligations (Cost $ 18,226) 12,545
- ----------------------------------------------------------------------------------------------------------------------------------
U.S. Agency Mortgage-Backed Obligations--67.9%
FHLMC 6.000% 02/01/01 75 75
FHLMC 7.000% 01/01/09 81 83
FHLMC 7.000% 04/01/09 149 153
FHLMC 7.000% 04/01/09 118 121
FHLMC 7.000% 08/01/10 593 606
FHLMC 7.000% 05/01/12 843 863
FHLMC 6.500% 12/01/12 1,494 1,517
FHLMC REMIC 1934 E 6.500% 02/15/12
FHLMC REMIC 2061 PC 6.250% 10/15/20
FHLMC REMIC, Ser 2039, Cl PC 6.000% 05/15/09 1,000 1,001
FHLMC REMIC 1585 E 5.750% 06/15/16
FHLMC Pool E00412 7.000% 01/01/11
FHLMC Pool G10664 7.000% 02/01/12
FHLMC Pool E66605 6.500% 03/01/12
FNMA 6.000% 11/25/07 815 825
FNMA 7.500% 06/01/11 614 631
FNMA 7.000% 09/17/11 902 923
FNMA 7.000% 05/01/12 811 830
FNMA 7.000% 06/01/12 733 749
FNMA 7.000% 07/01/12 791 809
FNMA 7.000% 10/25/16 635 648
FNMA 6.500% 07/01/18 1,028 1,040
FNMA 6.290% 08/01/18 1,494 1,496
------------------------------- ----------------------------------
CrestFunds Government
Bond Fund Pro Forma Combined
- ----------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- ----------------------------------------------------------------------------------------------------------------------------
U.S. Treasury Obligations--19.3%
U.S. Treasury Bonds 200 206
U.S. Treasury Bonds 1,000 1,224
U.S. Treasury Bonds 1,000 1,221
U.S. Treasury Bonds 960 1,144 960 1,144
U.S. Treasury Bonds 3,795 4,283 3,795 4,283
U.S. Treasury Bonds 2,000 2,199
U.S. Treasury Bonds 1,500 1,541 1,500 1,541
U.S. Treasury Notes 1,000 1,072
U.S. Treasury Notes 200 215
U.S. Treasury Notes 200 216
U.S. Treasury Notes 750 816
U.S. Treasury Notes 500 560
U.S. Treasury Notes 275 319
U.S. Treasury Notes 500 573
U.S. Treasury Notes 2,000 2,215
U.S. Treasury Notes 1,050 1,179
U.S. Treasury Notes 400 530
- ---------------------------------------------------------------------------------------------------------------------------
Total U.S. Treasury Obligations (Cost $ 18,226) 6,968 19,513
- ---------------------------------------------------------------------------------------------------------------------------
U.S. Agency Mortgage-Backed Obligations--67.9%
FHLMC 75 75
FHLMC 81 83
FHLMC 149 153
FHLMC 118 121
FHLMC 593 606
FHLMC 843 863
FHLMC 1,494 1,517
FHLMC REMIC 1934 E 1,856 1,905 1,856 1,905
FHLMC REMIC 2061 PC 1,260 1,279 1,260 1,279
FHLMC REMIC, Ser 2039, Cl PC 1,000 1,001
FHLMC REMIC 1585 E 1,045 1,044 1,045 1,044
FHLMC Pool E00412 347 355 347 355
FHLMC Pool G10664 1,189 1,217 1,189 1,217
FHLMC Pool E66605 2,945 2,990 2,945 2,990
FNMA 815 825
FNMA 614 631
FNMA 902 923
FNMA 811 830
FNMA 733 749
FNMA 791 809
FNMA 635 648
FNMA 1,028 1,040
FNMA 1,494 1,496
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds U.S. Government Securities Fund
Crest Funds Government Bond Fund
November 30, 1998
----------------------------------
STI Classic U.S.
Government Securities Fund
- ---------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- ---------------------------------------------------------------------------------------------------------------------------------
FNMA 6.500% 08/01/18 985 992
FNMA 7.500% 04/01/27 692 712
FNMA 6.000% 03/01/28 1,005 992
FNMA 6.500% 03/01/28 843 849
FNMA REMIC, Ser 1990-143, Cl J 8.750% 12/25/20 87 91
FNMA REMIC, Ser 1993-156, Cl B 6.500% 04/25/18 100 102
FNMA REMIC, Ser 1996-68, Cl C 6.500% 08/18/18 1,000 1,006
FNMA REMIC, Ser 1996-9, Cl H 6.500% 11/25/13 1,337 1,358
FNMA REMIC, Ser 1997-34, Cl VC 7.500% 05/01/12 1,000 1,031
FNMA REMIC, Ser 1997-6, Cl H 7.000% 08/18/08 1,058 1,102
FNMA REMIC 1996-30 PC 7.000% 11/25/20
FNMA REMIC, Ser G93-40, Cl VC 6.500% 08/25/10 261 260
FNMA REMIC 1997-63-PC 6.500% 03/18/26
FNMA REMIC 1997-42 ZC 6.500% 07/18/27
FNMA REMIC 1998-8 PB 6.250% 06/18/19
FNMA REMIC 1998-17 TC 6.250% 08/18/21
FNMA REMIC 1998-44 QD 6.000% 07/18/16
FNMA Pool 250820 7.000% 01/01/27
FNMA Pool 251761 6.500% 06/01/13
FNMA Pool 420787 6.500% 06/01/13
FNMA Pool 444572 6.500% 09/01/13
FNMA TBA 6.000% 12/15/13
GNMA 7.500% 10/20/09 47 48
GNMA 8.250% 01/15/12 67 69
GNMA 9.000% 04/15/17 297 316
GNMA 8.500% 05/15/17 695 736
GNMA 10.000% 06/15/19 2 3
GNMA 7.500% 05/15/22 444 459
GNMA 7.000% 11/15/22 392 402
GNMA 8.000% 02/15/23 23 24
GNMA 8.500% 03/15/23 45 47
GNMA 7.500% 04/15/23 113 116
GNMA 7.500% 09/15/23 738 763
GNMA 6.500% 10/15/23 894 904
GNMA 7.000% 01/15/24 127 130
GNMA 7.500% 04/15/24 674 697
GNMA 7.000% 06/15/24 752 770
GNMA 8.000% 08/15/24 67 69
GNMA 8.000% 09/15/24 20 21
GNMA 8.000% 10/15/24 20 21
GNMA 8.000% 11/15/24 23 24
GNMA 8.500% 12/15/24 55 59
GNMA 8.500% 02/15/25 17 17
GNMA 7.000% 12/15/25 432 443
--------------------------------- ----------------------------------
CrestFunds Government
Bond Fund Pro Forma Combined
- ---------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- ---------------------------------------------------------------------------------------------------------------------------------
FNMA 985 992
FNMA 692 712
FNMA 1,005 992
FNMA 843 849
FNMA REMIC, Ser 1990-143, Cl J 87 91
FNMA REMIC, Ser 1993-156, Cl B 100 102
FNMA REMIC, Ser 1996-68, Cl C 1,000 1,006
FNMA REMIC, Ser 1996-9, Cl H 1,337 1,358
FNMA REMIC, Ser 1997-34, Cl VC 1,000 1,031
FNMA REMIC, Ser 1997-6, Cl H 1,058 1,102
FNMA REMIC 1996-30 PC 2,000 2,040 2,000 2,040
FNMA REMIC, Ser G93-40, Cl VC 261 260
FNMA REMIC 1997-63-PC 1,140 1,186 1,140 1,186
FNMA REMIC 1997-42 ZC 1,535 1,513 1,535 1,513
FNMA REMIC 1998-8 PB 1,140 1,177 1,140 1,177
FNMA REMIC 1998-17 TC 910 923 910 923
FNMA REMIC 1998-44 QD 1,260 1,260 1,260 1,260
FNMA Pool 250820 1,106 1,129 1,106 1,129
FNMA Pool 251761 348 353 348 353
FNMA Pool 420787 1,314 1,333 1,314 1,333
FNMA Pool 444572 207 211 207 211
FNMA TBA 1,400 1,400 1,400 1,400
GNMA 47 48
GNMA 67 69
GNMA 297 316
GNMA 695 736
GNMA 2 3
GNMA 444 459
GNMA 392 402
GNMA 23 24
GNMA 45 47
GNMA 113 116
GNMA 738 763
GNMA 894 904
GNMA 127 130
GNMA 674 697
GNMA 752 770
GNMA 67 69
GNMA 20 21
GNMA 20 21
GNMA 23 24
GNMA 55 59
GNMA 17 17
GNMA 432 443
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds U.S. Government Securities Fund
Crest Funds Government Bond Fund
November 30, 1998
----------------------------------
STI Classic U.S.
Government Securities Fund
- ---------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- ---------------------------------------------------------------------------------------------------------------------------------
GNMA 6.500% 02/15/28 983 993
GNMA 6.500% 05/20/28 1,969 1,989
GNMA 6.500% 09/15/28 1,993 2,014
GNMA Pool 780332 8.000% 11/15/09
GNMA Pool 780429 7.500% 09/15/26
GNMA Pool 459912 7.500% 01/15/28
GNMA Pool 451900 7.500% 07/12/27
GNMA Pool 429989 7.500% 10/15/27
GNMA Pool 423454 7.500% 01/15/26
GNMA Pool 780651 7.000% 10/15/27
GNMA Pool 780525 7.000% 03/15/27
GNMA Pool 460535 7.000% 01/15/28
GNMA Pool 456308 7.000% 11/15/27
GNMA Pool 454996 7.000% 12/15/27
GNMA Pool 452647 7.000% 11/15/27
GNMA Pool 452415 7.000% 09/15/27
GNMA Pool 449499 7.000% 01/15/28
GNMA Pool 445361 7.000% 11/15/27
GNMA Pool 445282 7.000% 12/15/27
GNMA Pool 445209 7.000% 10/15/27
GNMA Pool 443942 7.000% 04/15/27
GNMA Pool 433528 7.000% 01/15/28
GNMA Pool 384994 7.000% 12/15/27
GNMA Pool 353917 7.000% 10/15/27
GNMA Pool 483637 6.500% 09/15/28
GNMA Pool 475841 6.500% 06/15/28
GNMA Pool 468226 6.500% 09/15/28
GNMA Pool 465677 6.500% 03/15/28
GNMA Pool 456254 6.500% 04/15/28
GNMA Pool 352020 6.500% 11/15/23
GNMA Pool 361275 6.500% 11/15/23
GNMA REMIC, Ser 1995-6A, Cl E 7.500% 05/20/23 1,000 1,021
GNMA REMIC, Ser 1998-9, Cl D 6.500% 08/20/24 1,000 999
GNMA TBA 7.000% 12/17/28
GNMA TBA 6.500% 12/17/28
- ---------------------------------------------------------------------------------------------------------------------------------
Total U.S. Agency Mortgage-Backed Obligations (Cost $ 67,639) 34,019
- ---------------------------------------------------------------------------------------------------------------------------------
-
Corporate Obligations --4.7%
Banks--0.2%
Capital One MTN 6.830% 05/17/99
- ---------------------------------------------------------------------------------------------------------------------------------
-
- ---------------------------------------------------------------------------------------------------------------------------------
Communications Equipment--1.0%
US Cellular, Callable 08/15/04 @ 100 7.250% 08/15/07
- ---------------------------------------------------------------------------------------------------------------------------------
-
- ---------------------------------------------------------------------------------------------------------------------------------
--------------------------------- ----------------------------------
CrestFunds Government
Bond Fund Pro Forma Combined
- ---------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- ---------------------------------------------------------------------------------------------------------------------------------
GNMA 983 993
GNMA 1,969 1,989
GNMA 1,993 2,014
GNMA Pool 780332 1,031 1,068 1,031 1,068
GNMA Pool 780429 762 788 762 788
GNMA Pool 459912 384 397 384 397
GNMA Pool 451900 390 403 390 403
GNMA Pool 429989 50 52 50 52
GNMA Pool 423454 488 505 488 505
GNMA Pool 780651 727 745 727 745
GNMA Pool 780525 270 276 270 276
GNMA Pool 460535 851 872 851 872
GNMA Pool 456308 276 283 276 283
GNMA Pool 454996 786 804 786 804
GNMA Pool 452647 855 875 855 875
GNMA Pool 452415 73 74 73 74
GNMA Pool 449499 291 298 291 298
GNMA Pool 445361 65 66 65 66
GNMA Pool 445282 71 73 71 73
GNMA Pool 445209 70 72 70 72
GNMA Pool 443942 833 853 833 853
GNMA Pool 433528 160 164 160 164
GNMA Pool 384994 50 52 50 52
GNMA Pool 353917 80 82 80 82
GNMA Pool 483637 449 454 449 454
GNMA Pool 475841 42 42 42 42
GNMA Pool 468226 569 575 569 575
GNMA Pool 465677 149 150 149 150
GNMA Pool 456254 88 89 88 89
GNMA Pool 352020 830 839 830 839
GNMA Pool 361275 377 381 377 381
GNMA REMIC, Ser 1995-6A, Cl E 1,000 1,021
GNMA REMIC, Ser 1998-9, Cl D 1,000 999
GNMA TBA 700 707 700 707
GNMA TBA 1,400 1,433 1,400 1,433
- ---------------------------------------------------------------------------------------------------------------------------------
Total U.S. Agency Mortgage-Backed Obligations (Cost $ 67,639) 34,787 68,806
- ---------------------------------------------------------------------------------------------------------------------------------
Corporate Obligations --4.7%
Banks--0.2%
Capital One MTN 250 251 250 251
- ---------------------------------------------------------------------------------------------------------------------------------
251 251
- ---------------------------------------------------------------------------------------------------------------------------------
Communications Equipment--1.0%
US Cellular, Callable 08/15/04 @ 100 1,000 1,048 1,000 1,048
- ---------------------------------------------------------------------------------------------------------------------------------
1,048 1,048
- ---------------------------------------------------------------------------------------------------------------------------------
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds U.S. Government Securities Fund
Crest Funds Government Bond Fund
November 30, 1998
-------------------------------------
STI Classic U.S.
Government Securities Fund
- ----------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- ----------------------------------------------------------------------------------------------------------------------------------
Financial Services--1.0%
Macsaver Financial Services 7.400% 02/15/02
- ----------------------------------------------------------------------------------------------------------------------------------
-
- ----------------------------------------------------------------------------------------------------------------------------------
Food, Beverage & Tobacco--0.6%
Philip Morris 7.625% 05/15/02
- ----------------------------------------------------------------------------------------------------------------------------------
-
- ----------------------------------------------------------------------------------------------------------------------------------
Petroleum & Fuel Products--0.7%
Petroleum Geo-Services 7.125% 03/30/28
- ----------------------------------------------------------------------------------------------------------------------------------
Total Petroleum & Fuel Products -
- ----------------------------------------------------------------------------------------------------------------------------------
Security Brokerage/Dealers--1.1%
Jefferies Group, Callable 05/01/99 @ 103 8.875% 05/01/04
- ----------------------------------------------------------------------------------------------------------------------------------
-
- ----------------------------------------------------------------------------------------------------------------------------------
Total Corporate Obligations (Cost $4,613)
- ----------------------------------------------------------------------------------------------------------------------------------
Asset Backed Securities--2.9%
AFG Receivables Trust, Ser 1997-A A 6.350% 10/31/02
Chase Credit Card Master Trust, Ser 1997-5 A 6.194% 08/15/05
Discover Card Master Trust I, Ser 1998-4 A 5.750% 10/16/03
EQCC Home Equity Loan Trust, Ser 1994-1 A 5.800% 03/15/09
Olympic Automobile Receivables Trust, Ser 1995-D A4 6.050% 11/15/00
- ----------------------------------------------------------------------------------------------------------------------------------
Total Asset Backed Securities (Cost $2,938) -
- ----------------------------------------------------------------------------------------------------------------------------------
Mortgage Backed Securities--1.1%
Merrill Lynch Mortgage Investors, Ser 1998-C2 D (A) 7.116% 12/01/98
- ----------------------------------------------------------------------------------------------------------------------------------
Total Mortgage-Backed Securities (Cost $1,108) -
- ----------------------------------------------------------------------------------------------------------------------------------
Municipal Bond--0.6%
Los Angeles County, CA, Taxable GO, Ser A, AMBAC 8.000% 06/30/01
- ----------------------------------------------------------------------------------------------------------------------------------
Total Municipal Bond (Cost $615) -
- ----------------------------------------------------------------------------------------------------------------------------------
Cash Equivalents--4.7%
Aim Liquid Assets Portfolio
SEI Daily Income Trust Government II Portfolio 2,228 2,228
SEI Daily Income Trust Treasury II Portfolio 31 31
- ----------------------------------------------------------------------------------------------------------------------------------
Total Cash Equivalents (Cost $4,790) 2,259
- ----------------------------------------------------------------------------------------------------------------------------------
Repurchase Agreement--2.2%
J.P. Morgan 5.45%, dated 11/30/98, matures 12/01/98
- ----------------------------------------------------------------------------------------------------------------------------------
Total Repurchase Agreements (Cost $2,273) -
- ----------------------------------------------------------------------------------------------------------------------------------
------------------------------- ------------------------------------
CrestFunds Government
Bond Fund Pro Forma Combined
- -----------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- -----------------------------------------------------------------------------------------------------------------------------------
Financial Services--1.0%
Macsaver Financial Services 1,000 991 1,000 991
- -----------------------------------------------------------------------------------------------------------------------------------
991 991
- -----------------------------------------------------------------------------------------------------------------------------------
Food, Beverage & Tobacco--0.6%
Philip Morris 550 580 550 580
- -----------------------------------------------------------------------------------------------------------------------------------
580 580
- -----------------------------------------------------------------------------------------------------------------------------------
Petroleum & Fuel Products--0.7%
Petroleum Geo-Services 765 734 765 734
- -----------------------------------------------------------------------------------------------------------------------------------
Total Petroleum & Fuel Products 734 734
- -----------------------------------------------------------------------------------------------------------------------------------
Security Brokerage/Dealers--1.1%
Jefferies Group, Callable 05/01/99 @ 103 1,000 1,109 1,000 1,109
- -----------------------------------------------------------------------------------------------------------------------------------
1,109 1,109
- -----------------------------------------------------------------------------------------------------------------------------------
Total Corporate Obligations (Cost $4,613) 4,713
- -----------------------------------------------------------------------------------------------------------------------------------
Asset Backed Securities--2.9%
AFG Receivables Trust, Ser 1997-A A 516 519 516 519
Chase Credit Card Master Trust, Ser 1997-5 A 845 871 845 871
Discover Card Master Trust I, Ser 1998-4 A 1,180 1,191 1,180 1,191
EQCC Home Equity Loan Trust, Ser 1994-1 A 69 69 69 69
Olympic Automobile Receivables Trust, Ser 1995-D A4 319 320 319 320
- -----------------------------------------------------------------------------------------------------------------------------------
Total Asset Backed Securities (Cost $2,938) 2,970 2,970
- -----------------------------------------------------------------------------------------------------------------------------------
Mortgage Backed Securities--1.1%
Merrill Lynch Mortgage Investors, Ser 1998-C2 D (A) 1,100 1,090 1,100 1,090
- -----------------------------------------------------------------------------------------------------------------------------------
Total Mortgage-Backed Securities (Cost $1,108) 1,090 1,090
- -----------------------------------------------------------------------------------------------------------------------------------
Municipal Bond--0.6%
Los Angeles County, CA, Taxable GO, Ser A, AMBAC 580 617 580 617
- -----------------------------------------------------------------------------------------------------------------------------------
Total Municipal Bond (Cost $615) 617 617
- -----------------------------------------------------------------------------------------------------------------------------------
Cash Equivalents--4.7%
Aim Liquid Assets Portfolio 2,531 2,531 2,531 2,531
SEI Daily Income Trust Government II Portfolio 2,228 2,228
SEI Daily Income Trust Treasury II Portfolio 31 31
- -----------------------------------------------------------------------------------------------------------------------------------
Total Cash Equivalents (Cost $4,790) 2,531 4,790
- -----------------------------------------------------------------------------------------------------------------------------------
Repurchase Agreement--2.2%
J.P. Morgan 5.45%, dated 11/30/98, matures 12/01/98 2,273 2,273 2,273 2,273
- -----------------------------------------------------------------------------------------------------------------------------------
Total Repurchase Agreements (Cost $2,273) 2,273 2,273
- -----------------------------------------------------------------------------------------------------------------------------------
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds U.S. Government Securities Fund
Crest Funds Government Bond Fund
November 30, 1998
------------------------------------
STI Classic U.S.
Government Securities Fund
- -----------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- -----------------------------------------------------------------------------------------------------------------------------
Total Investments --103.5%
(Cost $102,202) 48,823
- -----------------------------------------------------------------------------------------------------------------------------
Other Asset and Liabilities --(3.5%) (9)
- -----------------------------------------------------------------------------------------------------------------------------
Net Assets -- 100% 48,814
- -----------------------------------------------------------------------------------------------------------------------------
---------------------------------- ---------------------------------
CrestFunds Government
Bond Fund Pro Forma Combined
- ----------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- ----------------------------------------------------------------------------------------------------------------------------------
Total Investments --103.5%
(Cost $102,202) 55,949 104,772
- ----------------------------------------------------------------------------------------------------------------------------------
Other Asset and Liabilities --(3.5%) (3,501) (3,510)
- ----------------------------------------------------------------------------------------------------------------------------------
Net Assets -- 100% 52,448 101,262
- ----------------------------------------------------------------------------------------------------------------------------------
(A) Adjustable Rate Securities - The rate reflected on the Statement of Net
Assets is the rate in effect on November 30, 1998. The date reported on the
Statement of Net Assets is the later of the date on which the security can be
redeemed at par or the next date on which the rate of interest is adjusted.
AMBAC - American Municipal Bond Assurance
Cl - Class
FHLMC - Federal Home Loan Mortagage Corporation
FNMA - Federal National Mortgage Association
GNMA - Government National Mortgage Association
GO - General Obligation
MTN - Medium Term Note
REMIC - Real Estate Mortgage Investment Conduit
Ser - Series
TBA - To Be Announced
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Small Cap Growth Stock Fund
Crest Funds Special Equity Fund
November 30, 1998
-----------------------------------------
STI Small Cap Growth
Stock Fund
- ------------------------------------------------------------------------------------------------------------------------------
Security Shares Value (000)
- ------------------------------------------------------------------------------------------------------------------------------
Common Stocks--96.4%
Basic Materials--3.9%
Alpha Industries* 4,870 107
Applied Signal Technology* 6,105 73
Arterial Vascular* 2,795 137
Astec Industries * 1,460 76
Avant!* 6,150 103
Centex Construction Products 2,585 92
LTV
NCI Building Systems * 2,100 51
Pure World Cosmetics* 10,975 101
Solutia
Southdown
Stillwater Mining Co* 2,625 96
- ------------------------------------------------------------------------------------------------------------------------------
Total Basic Materials 836
- ------------------------------------------------------------------------------------------------------------------------------
Capital Goods--15.3%
AFC Cable Systems* 2,260 67
American Woodmark 3,485 106
Avondale Industries*
Champion Enterprises * 3,985 89
Coflexip-Sponsored* 2,165 79
Comverse Technology*
Corsair Communications*
Crane
DII Group *
DR Horton
Ducommun * 1,800 30
Dycom Industry* 2,415 95
Elcor 2,500 77
Exide
Foster Wheeler
General Instrument*
Giant Cement Holding*
Gulf Island Fabrication* 3,930 29
JLG Industries 3,510 58
Kellstrom Industries * 4,200 103
LSI Industries 3,075 65
Manitowoc 1,730 69
MIPS Technologies*
Myers Industries 3,100 70
National R.V. Holdings* 4,125 109
Navistar International* 3,175 82
---------------------------------------- -----------------------------------------
CrestFunds Special
Equity Fund Pro Forma Combined
- ----------------------------------------------------------------------------------------------------------------------------------
Security Shares Value (000) Shares Value (000)
- ----------------------------------------------------------------------------------------------------------------------------------
Common Stocks--96.4%
Basic Materials--3.9%
Alpha Industries* 4,870 107
Applied Signal Technology* 6,105 73
Arterial Vascular* 2,795 137
Astec Industries * 1,460 76
Avant!* 6,150 103
Centex Construction Products 13,000 461 15,585 553
LTV 105,000 578 105,000 578
NCI Building Systems * 2,100 51
Pure World Cosmetics* 10,975 101
Solutia 40,000 895 40,000 895
Southdown 27,300 1,590 27,300 1,590
Stillwater Mining Co* 2,625 96
- ----------------------------------------------------------------------------------------------------------------------------------
Total Basic Materials 3,524 4,360
- ----------------------------------------------------------------------------------------------------------------------------------
Capital Goods--15.3%
AFC Cable Systems* 75,000 2,222 77,260 2,289
American Woodmark 3,485 106
Avondale Industries* 32,000 884 32,000 884
Champion Enterprises * 3,985 89
Coflexip-Sponsored* 2,165 79
Comverse Technology* 45,150 2,596 45,150 2,596
Corsair Communications* 95,000 427 95,000 427
Crane 50,000 1,616 50,000 1,616
DII Group * 40,000 835 40,000 835
DR Horton 52,000 982 52,000 982
Ducommun * 1,800 30
Dycom Industry* 2,415 95
Elcor 2,500 77
Exide 20,000 349 20,000 349
Foster Wheeler 60 1,028 60 1,028
General Instrument* 32,500 914 32,500 914
Giant Cement Holding* 30,000 720 30,000 720
Gulf Island Fabrication* 3,930 29
JLG Industries 3,510 58
Kellstrom Industries * 4,200 103
LSI Industries 3,075 65
Manitowoc 1,730 69
MIPS Technologies* 15,000 363 15,000 363
Myers Industries 3,100 70
National R.V. Holdings* 4,125 109
Navistar International* 39,000 1,009 42,175 1,091
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Small Cap Growth Stock Fund
Crest Funds Special Equity Fund
November 30, 1998
-----------------------------------------
STI Small Cap Growth
Stock Fund
- ---------------------------------------------------------------------------------------------------------------------------
Security Shares Value (000)
- ---------------------------------------------------------------------------------------------------------------------------
Pentair 1,795 68
Reliance Steel & Aluminum 2,090 64
Sps Technologies* 1,410 81
Stanley Furniture* 4,905 83
Superior Industries International
Superior TeleCom 2,045 89
Transwitch* 2,830 79
Tredegar Industries 2,550 60
USG* 1,780 88
Varlen 3,441 91
- ---------------------------------------------------------------------------------------------------------------------------
Total Capital Goods 1,831
- ---------------------------------------------------------------------------------------------------------------------------
Communication Services--3.7%
ECI Telecommunications 3,405 122
Flextronics International* 1,220 81
Gilat Satellite Networks Limited* 1,810 92
Hyperion Telecommunications, Cl A*
Pacific Gateway Exchange*
Polycom* 6,315 112
Tel-Save Holdings*
- ---------------------------------------------------------------------------------------------------------------------------
Total Communication Services 407
- ---------------------------------------------------------------------------------------------------------------------------
Consumer Cyclicals--17.8%
American Eagle Outfitters* 1,950 116
Ann Taylor Stores* 3,340 110
Avis Rent A Car*
Barnes & Noble*
Blyth Industries* 2,785 95
Brinker International* 3,370 86
Buckle* 3,595 92
Cato, Cl A 6,320 86
Chicos* 5,800 127
CHS Electronics* 8,300 123
Consolidated Graphics* 1,805 104
Correctional Services* 7,170 83
Craftmade International 7,535 88
Cutter & Buck* 3,915 113
Cybex Computer Products* 2,305 96
DSP Group*
Empi* 4,935 111
Ethan Allen Interiors
First Years 6,860 115
Fossil* 4,855 134
Highwoods Properties 2,405 65
---------------------------------------- -----------------------------------------
CrestFunds Special
Equity Fund Pro Forma Combined
- -----------------------------------------------------------------------------------------------------------------------------------
Security Shares Value (000) Shares Value (000)
- -----------------------------------------------------------------------------------------------------------------------------------
Pentair 1,795 68
Reliance Steel & Aluminum 2,090 64
Sps Technologies* 1,410 81
Stanley Furniture* 4,905 83
Superior Industries International 37,000 962 37,000 962
Superior TeleCom 2,045 89
Transwitch* 15,000 418 17,830 497
Tredegar Industries 2,550 60
USG* 1,780 88
Varlen 3,441 91
- -----------------------------------------------------------------------------------------------------------------------------------
Total Capital Goods 15,325 17,156
- -----------------------------------------------------------------------------------------------------------------------------------
Communication Services--3.7%
ECI Telecommunications 3,405 122
Flextronics International* 12,000 798 13,220 879
Gilat Satellite Networks Limited* 1,810 92
Hyperion Telecommunications, Cl A* 145,000 1,577 145,000 1,577
Pacific Gateway Exchange* 15,000 671 15,000 671
Polycom* 6,315 112
Tel-Save Holdings* 55,000 657 55,000 657
- -----------------------------------------------------------------------------------------------------------------------------------
Total Communication Services 3,703 4,110
- -----------------------------------------------------------------------------------------------------------------------------------
Consumer Cyclicals--17.8%
American Eagle Outfitters* 19,000 1,135 20,950 1,251
Ann Taylor Stores* 15,000 494 18,340 604
Avis Rent A Car* 27,000 569 27,000 569
Barnes & Noble* 20,000 663 20,000 663
Blyth Industries* 2,785 95
Brinker International* 3,370 86
Buckle* 17,000 436 20,595 528
Cato, Cl A 6,320 86
Chicos* 5,800 127
CHS Electronics* 8,300 123
Consolidated Graphics* 1,805 104
Correctional Services* 7,170 83
Craftmade International 7,535 88
Cutter & Buck* 3,915 113
Cybex Computer Products* 2,305 96
DSP Group* 60,000 1,226 60,000 1,226
Empi* 4,935 111
Ethan Allen Interiors 14,000 553 14,000 553
First Years 6,860 115
Fossil* 4,855 134
Highwoods Properties 2,405 65
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Small Cap Growth Stock Fund
Crest Funds Special Equity Fund
November 30, 1998
-----------------------------------------
STI Small Cap Growth
Stock Fund
- ------------------------------------------------------------------------------------------------------------------------
Security Shares Value (000)
- ------------------------------------------------------------------------------------------------------------------------
Interim Services*
Juno Lighting 3,485 81
K-Swiss, Cl A 4,145 118
La-Z-Boy Chair 2,175 36
Labor Ready* 3,970 87
Liberty Property Trust 2,800 69
Mail-Well*
MDC Holdings 4,935 91
Media Arts Group* 7,385 108
Men's Wearhouse*
Metamor Worldwide*
Mohawk Industries* 3,015 112
Monaco Coach* 3,370 101
Movado Group 3,560 72
Onsale Inc*
Oshkosh B'gosh, Cl A 5,010 120
Pacific Sunwear of California* 4,060 60
Pier 1 Imports
Quiksilver* 2,795 68
Renters Choice*
Rent-Way* 3,050 83
Salton/Maxim Housewares* 4,795 89
SCP Pool* 5,650 88
Select Appointments Holdings ADR* 4,490 90
Staffmark* 4,530 105
Standard Pacific 9,145 89
Steven Madden Ltd* 14,785 99
Sykes Enterprises* 4,685 95
Syntel * 3,150 43
Tarrant Apparel Group* 4,005 131
theglobe.com*
TMP Worldwide*
Triumph Group Inc* 2,395 81
Urs* 3,885 79
Wabash National 4,475 84
Westaff* 3,990 26
Winnebago Industries 6,860 82
Young & Rubicam*
Zale*
- ------------------------------------------------------------------------------------------------------------------------
Total Consumer Cyclicals 4,131
- ------------------------------------------------------------------------------------------------------------------------
Consumer Staples--6.3%
American Italian Pasta*
CKE Restaurants 2,255 55
----------------------------------------- -----------------------------------------
CrestFunds Special
Equity Fund Pro Forma Combined
- -----------------------------------------------------------------------------------------------------------------------------------
Security Shares Value (000) Shares Value (000)
- -----------------------------------------------------------------------------------------------------------------------------------
Interim Services* 66,000 1,369 66,000 1,369
Juno Lighting 3,485 81
K-Swiss, Cl A 4,145 118
La-Z-Boy Chair 2,175 36
Labor Ready* 3,970 87
Liberty Property Trust 2,800 69
Mail-Well* 160,000 2,070 160,000 2,070
MDC Holdings 4,935 91
Media Arts Group* 7,385 108
Men's Wearhouse* 38,000 962 38,000 962
Metamor Worldwide* 52,000 1,232 52,000 1,232
Mohawk Industries* 3,015 112
Monaco Coach* 3,370 101
Movado Group 3,560 72
Onsale Inc* 12,000 738 12,000 738
Oshkosh B'gosh, Cl A 5,010 120
Pacific Sunwear of California* 44,000 652 48,060 712
Pier 1 Imports 36,000 387 36,000 387
Quiksilver* 2,795 68
Renters Choice* 24,750 597 24,750 597
Rent-Way* 3,050 83
Salton/Maxim Housewares* 4,795 89
SCP Pool* 5,650 88
Select Appointments Holdings ADR* 4,490 90
Staffmark* 4,530 105
Standard Pacific 9,145 89
Steven Madden Ltd* 14,785 99
Sykes Enterprises* 4,685 95
Syntel * 3,150 43
Tarrant Apparel Group* 4,005 131
theglobe.com* 8,000 280 8,000 280
TMP Worldwide* 20,000 640 20,000 640
Triumph Group Inc* 2,395 81
Urs* 3,885 79
Wabash National 4,475 84
Westaff* 3,990 26
Winnebago Industries 6,860 82
Young & Rubicam* 30,000 896 30,000 896
Zale* 36,000 1,031 36,000 1,031
- -----------------------------------------------------------------------------------------------------------------------------------
Total Consumer Cyclicals 15,930 20,061
- -----------------------------------------------------------------------------------------------------------------------------------
Consumer Staples--6.3%
American Italian Pasta* 30,000 757 30,000 757
CKE Restaurants 2,255 55
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Small Cap Growth Stock Fund
Crest Funds Special Equity Fund
November 30, 1998
-----------------------------------------
STI Small Cap Growth
Stock Fund
- -------------------------------------------------------------------------------------------------------------------------
Security Shares Value (000)
- -------------------------------------------------------------------------------------------------------------------------
Earthgrains
Fresh Del Monte Produce* 3,700 81
Logan's Roadhouse* 3,155 65
Papa John's International*
Richfood Holdings
Suiza Foods*
Universal
Whole Foods Market*
- -------------------------------------------------------------------------------------------------------------------------
Total Consumer Staples 201
- -------------------------------------------------------------------------------------------------------------------------
Energy--3.9%
AES*
Core Laboratories N.V.* 4,205 80
HS Resources *
J. Ray McDermott S.A.* 2,295 56
KTI* 3,250 69
Santa Fe Energy Resources*
Transocean Offshore
- -------------------------------------------------------------------------------------------------------------------------
Total Energy 205
- -------------------------------------------------------------------------------------------------------------------------
Financials--10.7%
American Heritage Life Investment
American Medical Security Group
Amerin* 4,277 106
Annuity & Life Re Holdings*
Automobile Protection* 9,400 86
Bank of Commerce/San Diego 6,205 92
BSB Bancorp 3,080 89
City National 2,360 88
Cullen/Frost Bankers 1,635 88
Enhance Financial Services Group
Fidelity National Financial 3,000 98
Financial Security Assurance Holdings 1,515 83
First American Financial 2,915 89
Fremont General 1,570 79
Landamerica Financial Group 1,515 93
Metris* 1,635 55
NVR* 2,365 93
Protective Life
Regions Financial
Ryland Group 3,480 92
SouthTrust
Stewart Information Services 1,640 81
Triad Guaranty* 4,135 93
- -------------------------------------------------------------------------------------------------------------------------
Total Financials 1,405
- -------------------------------------------------------------------------------------------------------------------------
---------------------------------------- -----------------------------------------
CrestFunds Special
Equity Fund Pro Forma Combined
- --------------------------------------------------------------------------------------------------------------------------------
Security Shares Value (000) Shares Value (000)
- --------------------------------------------------------------------------------------------------------------------------------
Earthgrains 25,000 803 25,000 803
Fresh Del Monte Produce* 3,700 81
Logan's Roadhouse* 3,155 65
Papa John's International* 34,000 1,426 34,000 1,426
Richfood Holdings 60,000 1,114 60,000 1,114
Suiza Foods* 20,000 947 20,000 947
Universal 25,000 880 25,000 880
Whole Foods Market* 20,000 930 20,000 930
- --------------------------------------------------------------------------------------------------------------------------------
Total Consumer Staples 6,857 7,058
- --------------------------------------------------------------------------------------------------------------------------------
Energy--3.9%
AES* 31,000 1,418 31,000 1,418
Core Laboratories N.V.* 4,205 80
HS Resources * 47,900 416 47,900 416
J. Ray McDermott S.A.* 2,295 56
KTI* 3,250 69
Santa Fe Energy Resources* 105,000 807 105,000 807
Transocean Offshore 61,000 1,506 61,000 1,506
- --------------------------------------------------------------------------------------------------------------------------------
Total Energy 4,147 4,352
- --------------------------------------------------------------------------------------------------------------------------------
Financials--10.7%
American Heritage Life Investment 42,000 1,032 42,000 1,032
American Medical Security Group 40,400 578 40,400 578
Amerin* 4,277 106
Annuity & Life Re Holdings* 52,000 1,319 52,000 1,319
Automobile Protection* 9,400 86
Bank of Commerce/San Diego 6,205 92
BSB Bancorp 3,080 89
City National 2,360 88
Cullen/Frost Bankers 1,635 88
Enhance Financial Services Group 25,000 734 25,000 734
Fidelity National Financial 3,000 98
Financial Security Assurance Holdings 1,515 83
First American Financial 2,915 89
Fremont General 29,900 1,506 31,470 1,585
Landamerica Financial Group 1,515 93
Metris* 1,635 55
NVR* 2,365 93
Protective Life 38,000 1,480 38,000 1,480
Regions Financial 60,000 2,325 60,000 2,325
Ryland Group 3,480 92
SouthTrust 44,250 1,626 44,250 1,626
Stewart Information Services 1,640 81
Triad Guaranty* 4,135 93
- --------------------------------------------------------------------------------------------------------------------------------
Total Financials 10,600 12,005
- --------------------------------------------------------------------------------------------------------------------------------
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Small Cap Growth Stock Fund
Crest Funds Special Equity Fund
November 30, 1998
-----------------------------------------
STI Small Cap Growth
Stock Fund
- ---------------------------------------------------------------------------------------------------------------------
Security Shares Value (000)
- ---------------------------------------------------------------------------------------------------------------------
Health Care--10.3%
Barr Laboratories* 1,680 71
Biomatrix*
Impath*
Medco Research* 2,730 55
Osteotech* 2,965 99
Pediatrix Medical Group* 1,655 89
Pharmaceutical Product Development*
Pharmerica*
Physician Reliance Network* 6,950 64
Rehabcare Group* 4,625 83
Resmed* 3,265 111
Safeskin*
Steris*
Trigon Healthcare*
Total Renal Care Holdings*
Visix Space* 1,615 118
Watson Pharmaceuticals*
Wellpoint Health Networks*
- ---------------------------------------------------------------------------------------------------------------------
Total Health Care 690
- ---------------------------------------------------------------------------------------------------------------------
Technology--20.3%
Cambridge Technology Partners*
Catalytica* 5,395 97
Checkpoint Software* 3,195 104
Ciber* 4,730 107
Complete Business Solutions* 2,525 62
Computer Task Group 3,149 85
Fair, Isaac
Fundtech Limited*
Genesys Telecom Labs*
Henry (Jack) & Associates 1,754 88
Insight Enterprises* 2,700 114
Keane* 2,595 75
Landmark Systems* 8,000 84
Micros Systems*
New Dimension Software Ltd* 3,680 122
Novell*
Pomeroy Computer Resources* 4,560 88
Progress Software* 4,485 114
Project Software & Development* 3,770 114
Psinet*
----------------------------------------- -----------------------------------------
CrestFunds Special
Equity Fund Pro Forma Combined
- --------------------------------------------------------------------------------------------------------------------------------
Security Shares Value (000) Shares Value (000)
- --------------------------------------------------------------------------------------------------------------------------------
Health Care--10.3%
Barr Laboratories* 1,680 71
Biomatrix* 32,000 1,554 32,000 1,554
Impath* 18,500 709 18,500 709
Medco Research* 2,730 55
Osteotech* 2,965 99
Pediatrix Medical Group* 1,655 89
Pharmaceutical Product Development* 92,000 2,634 92,000 2,634
Pharmerica* 112,748 465 112,748 465
Physician Reliance Network* 6,950 64
Rehabcare Group* 4,625 83
Resmed* 3,265 111
Safeskin* 70,000 1,330 70,000 1,330
Steris* 38,000 1,019 38,000 1,019
Trigon Healthcare* 25,000 927 25,000 927
Total Renal Care Holdings* 24,000 637 24,000 637
Visix Space* 1,615 118
Watson Pharmaceuticals* 17,000 916 17,000 916
Wellpoint Health Networks* 8,000 657 8,000 657
- --------------------------------------------------------------------------------------------------------------------------------
Total Health Care 10,848 11,538
- --------------------------------------------------------------------------------------------------------------------------------
Technology--20.3%
Cambridge Technology Partners* 100,000 2,087 100,000 2,087
Catalytica* 5,395 97
Checkpoint Software* 82,000 2,660 85,195 2,764
Ciber* 4,730 107
Complete Business Solutions* 2,525 62
Computer Task Group 24,000 648 27,149 733
Fair, Isaac 24,000 966 24,000 966
Fundtech Limited* 5,000 85 5,000 85
Genesys Telecom Labs* 32,000 918 32,000 918
Henry (Jack) & Associates 1,754 88
Insight Enterprises* 2,700 114
Keane* 2,595 75
Landmark Systems* 8,000 84
Micros Systems* 92,500 2,636 92,500 2,636
New Dimension Software Ltd* 3,680 122
Novell* 50,000 828 50,000 828
Pomeroy Computer Resources* 4,560 88
Progress Software* 4,485 114
Project Software & Development* 3,770 114
Psinet* 100 1,875 100 1,875
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Small Cap Growth Stock Fund
Crest Funds Special Equity Fund
November 30, 1998
-----------------------------------------
STI Small Cap Growth
Stock Fund
- ---------------------------------------------------------------------------------------------------------------------
Security Shares Value (000)
- ---------------------------------------------------------------------------------------------------------------------
QuadraMed*
Quantum*
SPR* 5,670 101
Symix Systems* 4,445 89
T-HQ* 4,480 125
Tekelec* 6,840 106
Timberline Software 5,693 70
USWeb*
Wiztec Solutions Ltd* 8,635 112
World Access* 3,975 81
Xircom* 3,290 99
- ---------------------------------------------------------------------------------------------------------------------
Total Technology 2,037
- ---------------------------------------------------------------------------------------------------------------------
Transportation--2.2%
Amtran Inc* 3,465 76
Comair 2,785 85
Landstar System* 2,745 113
Midwest Express Holdings* 2,205 61
Skywest 3,840 104
Swift Transportation* 3,115 68
US Freightways
- ---------------------------------------------------------------------------------------------------------------------
Total Transportation 507
- ---------------------------------------------------------------------------------------------------------------------
Utilities--2.0%
Bangor Hydro-Electric*
El Paso Electric*
Public Service of New Mexico
Public Service of North Carolina
Southwest Gas 3,620 86
- ---------------------------------------------------------------------------------------------------------------------
Total Utilities 86
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
Total Common Stocks (Cost $100,134) 12,336
- ---------------------------------------------------------------------------------------------------------------------
Cash Equivalent--2.6%
Aim Liquid Assets Portfolio
- ---------------------------------------------------------------------------------------------------------------------
Total Cash Equivalent (Cost $2,936) -
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000)
- ---------------------------------------------------------------------------------------------------------------------
Repurchase Agreement--1.6%
Morgan Stanely, 5.40%, dated 11/30/98, matures 12/01/98 1,785 1,785
- ---------------------------------------------------------------------------------------------------------------------
Total Repurchase Agreement (Cost $1,785) 1,785
- ---------------------------------------------------------------------------------------------------------------------
Total Investments--100.6% (Cost $104,855) 14,121
- ---------------------------------------------------------------------------------------------------------------------
----------------------------------------- -----------------------------------------
CrestFunds Special
Equity Fund Pro Forma Combined
- -----------------------------------------------------------------------------------------------------------------------------------
Security Shares Value (000) Shares Value (000)
- -----------------------------------------------------------------------------------------------------------------------------------
QuadraMed* 45,000 1,080 45,000 1,080
Quantum* 33,000 730 33,000 730
SPR* 5,670 101
Symix Systems* 4,445 89
T-HQ* 4,480 125
Tekelec* 199,000 3,084 205,840 3,190
Timberline Software 5,693 70
USWeb* 122,000 2,775 122,000 2,775
Wiztec Solutions Ltd* 8,635 112
World Access* 3,975 81
Xircom* 15,000 453 18,290 552
- -----------------------------------------------------------------------------------------------------------------------------------
Total Technology 20,825 22,862
- -----------------------------------------------------------------------------------------------------------------------------------
Transportation--2.2%
Amtran Inc* 3,465 76
Comair 2,785 85
Landstar System* 2,745 113
Midwest Express Holdings* 2,205 61
Skywest 3,840 104
Swift Transportation* 3,115 68
US Freightways 73,000 1,962 73,000 1,962
- -----------------------------------------------------------------------------------------------------------------------------------
Total Transportation 1,962 2,469
- -----------------------------------------------------------------------------------------------------------------------------------
Utilities--2.0%
Bangor Hydro-Electric* 20,000 243 20,000 243
El Paso Electric* 91,700 848 91,700 848
Public Service of New Mexico 28,000 544 28,000 544
Public Service of North Carolina 23,300 566 23,300 566
Southwest Gas 3,620 86
- -----------------------------------------------------------------------------------------------------------------------------------
Total Utilities 2,201 2,287
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Total Common Stocks (Cost $100,134) 95,922 108,258
- -----------------------------------------------------------------------------------------------------------------------------------
Cash Equivalent--2.6%
Aim Liquid Assets Portfolio 2,936 2,936 2,936 2,936
- -----------------------------------------------------------------------------------------------------------------------------------
Total Cash Equivalent (Cost $2,936) 2,936 2,936
- -----------------------------------------------------------------------------------------------------------------------------------
`
- -----------------------------------------------------------------------------------------------------------------------------------
Security Par (000) Value (000) Par (000) Value (000)
- -----------------------------------------------------------------------------------------------------------------------------------
Repurchase Agreement--1.6%
Morgan Stanely, 5.40%, dated
11/30/98, matures 12/01/98 1,785 1,785
- -----------------------------------------------------------------------------------------------------------------------------------
Total Repurchase Agreement (Cost $1,785) - 1,785
- -----------------------------------------------------------------------------------------------------------------------------------
Total Investments--100.6% (Cost $104,855) 98,858 112,979
- -----------------------------------------------------------------------------------------------------------------------------------
Pro Forma Schedule of Investments (Unaudited)
STI Classic Funds Small Cap Growth Stock Fund
Crest Funds Special Equity Fund
November 30, 1998
-----------------------------------------
STI Small Cap Growth
Stock Fund
- --------------------------------------------------------------------------------------------------------------------
Security Shares Value (000)
- --------------------------------------------------------------------------------------------------------------------
Other Assets and Liabilities, Net--(0.6%) 164
- --------------------------------------------------------------------------------------------------------------------
Total Net Assets--100.0% 14,285
- --------------------------------------------------------------------------------------------------------------------
----------------------------------------- -----------------------------------------
CrestFunds Special
Equity Fund Pro Forma Combined
- -------------------------------------------------------------------------------------------------------------------------------
Security Shares Value (000) Shares Value (000)
- -------------------------------------------------------------------------------------------------------------------------------
Other Assets and Liabilities, Net--(0.6%) (873) (709)
- -------------------------------------------------------------------------------------------------------------------------------
Total Net Assets--100.0% 97,985 112,270
- -------------------------------------------------------------------------------------------------------------------------------
* Non-income producing security.
ADR-American Depository Receipt
Cl-Class
Ltd-Limited
Pro Forma Statement of Assets and Liabilities (Unaudited)
STI Classic Funds Prime Quality Money Market Fund
CrestFunds Cash Reserve Fund
November 30, 1998
(000)
Pro Forma
Combined STI
STI Classic Prime Classic Prime
Quality Money CrestFunds Cash Pro Forma Quality Money
Market Fund Reserve Fund Adjustments Market Fund
ASSETS
Total Investments at Amortized Cost Value (Cost
$2,512,609, $1,322,267 and $3,834,876) $2,512,609 $1,322,267 $3,834,876
Cash 19 0 19
Accrued Income 19,161 9,379 28,540
Receivables for Capital Shares Sold 120 0 120
Other Assets 435 35 470
------------- ------------- ------------
Total Assets 2,532,344 1,331,681 3,864,025
------------- ------------- ------------
LIABILITIES
Accrued Expenses (1,768) (927) (2,695)
Income/Distribution Payable (9,726) (5,096) (14,822)
Payable for Investment Securities Purchased (62,000) 0 (62,000)
Payable for Capital Shares Redeemed (553) 0 (553)
Other Liabilities 0 (12) (12)
------------- ------------- ------------
Total Liabilities (74,047) (6,035) (80,082)
------------- ------------- ------------
NET ASSETS
Portfolio shares of the Trust Class (unlimited authorization -
no par value) based on (1,913,468, 3,049,091) outstanding
shares of beneficial interest 1,913,468 0 1,135,626 (a) 3,049,094
Portfolio shares of the Trust Class (4.0 billion authorized -
$.001 par value) based on 1,135,623 outstanding shares of
beneficial interest 0 1,135,626 (1,135,626) (a) 0
Portfolio shares of the Investor Class (unlimited authorization -
no par value) based on (545,215, 735,285) outstanding
shares of beneficial interest 545,215 0 190,070 (a) 735,285
Portfolio shares of the Investor Class A (.25 billion authorized -
$.001 par value) based on 189,937 outstanding shares of
beneficial interest 0 189,937 (189,937) (a) 0
Portfolio shares of the Investor Class B (.25 billion authorized -
$.001 par value) based on 133 outstanding
shares of beneficial interest 0 133 (133) (a) 0
Distributions in excess of net investment income (4) (4) (8)
Accumulated net realized loss on investments (382) (46) (428)
------------- ------------- ------------
Total Net Assets $2,458,297 $1,325,646 $0 $3,783,943
------------- ------------- ------------ ------------
------------- ------------- ------------ ------------
Net Asset Value, Offering and Redemption Price Per Share -
Trust Shares $1.00 $1.00
------------- ------------
------------- ------------
Net Asset Value, Offering and Redemption Price Per Share -
Trust Shares $1.00
-------------
-------------
Net Asset Value and Redemption Price Per Share - Investor
Shares $1.00 $1.00
------------- ------------
------------- ------------
Net Asset Value and Redemption Price Per Share - Investor
Class A $1.00
-------------
-------------
Net Asset Value and Redemption Price Per Share - Investor
Class B $1.00
-------------
-------------
Pro Forma Statement of Assets and Liabilities (Unaudited)
STI Classic Funds Investment Grade Bond Fund
CrestFunds Intermediate Bond Fund
November 30, 1998
(000)
Pro Forma
Combined STI
Classic
STI Classic CrestFunds Investment
Intermediate Grade Intermediate Pro Forma Grade Bond
Bond Fund Bond Fund Adjustments Fund
ASSETS
Total Investments at Market Value (Cost
$917,902, $351,744 and $1,269,646) $947,468 $356,841 $1,304,309
Cash 0 24 24
Accrued Income 9,822 2,138 11,960
Receivables for Capital Shares Sold 1,284 112 1,396
Other Assets 518 125 643
------------- ------------- ------------
Total Assets 959,092 359,240 1,318,332
------------- ------------- ------------
LIABILITIES
Accrued Expenses (748) (301) (1,049)
Income/Distribution Payable (3,553) (1,150) (4,703)
Payable for Investment Securities Purchased (94,214) (43,359) (137,573)
Payable for Capital Shares Redeemed (378) (137) (515)
Other Liabilities (394) (118) (512)
------------- ------------- ------------
Total Liabilities (99,287) (45,065) (144,352)
------------- ------------- ------------
NET ASSETS
Portfolio shares of the Trust Class (unlimited authorization -
no par value) based on (73,909, 102,323) outstanding
shares of beneficial interest 765,861 301,088 (a) 1,066,949
Portfolio shares of the Trust Class (1.4 billion authorized -
$.001 par value) based on 30,704 outstanding shares of
beneficial interest 301,088 (301,088) (a) 0
Portfolio shares of the Investor Class (unlimited authorization -
no par value) based on (3,044, 3,345) outstanding shares of
beneficial interest 31,977 3,241 (a) 35,218
Portfolio shares of the Investor Class A (.1 billion authorized -
$.001 par value) based on 325 outstanding shares of
beneficial interest 3,241 (3,241) (a) 0
Portfolio shares of the Flex Class (unlimited authorization -
no par value) based on 1,630 outstanding shares of
beneficial interest 17,197 0 17,197
Undistributed net investment income 0 96 96
Accumulated net realized gain on investments 15,204 4,653 19,857
Net unrealized appreciation on investments 29,566 5,097 34,663
------------- ------------- ------------
Total Net Assets $859,805 $314,175 $0 $1,173,980
------------- ------------- --------- ------------
------------- ------------- --------- ------------
Net Asset Value, Offering and Redemption Price Per Share -
Trust Shares $10.94 $10.94
------------- ------------
------------- ------------
Net Asset Value, Offering and Redemption Price Per Share -
Trust Shares $10.13
-------------
-------------
Net Asset Value and Redemption Price Per Share - Investor
Shares $10.94 $10.94
------------- ------------
------------- ------------
Maximum Offering Price Per Share - Investor Shares ($10.94
/ 96.25%) $11.37 $11.37
------------- ------------
------------- ------------
Net Asset Value and Redemption Price Per Share - Investor
Class A $10.13
-------------
-------------
Maximum Offering Price Per Share - Investor Class A ($10.13
/ 97.00%) $10.44
-------------
-------------
Net Asset Value, Offering and Redemption Price Per Share -
Flex Shares $10.95 $10.95
------------- ------------
------------- ------------
Pro Forma Statement of Assets and Liabilities (Unaudited)
STI Classic Funds Short-Term Bond Fund
Crest Funds Limited Term Bond Fund
November 30, 1998
(000)
Pro Forma
Combined STI
CrestFunds Classic Short-
STI Classic Short- Limited Term Pro Forma Term Bond
Term Bond Fund Bond Fund Adjustments Fund
ASSETS
Total Investments at Market Value (Cost $134,405, $89,867
and $224,272) $136,657 $90,921 $227,578
Cash 81 20 101
Accrued Income 1,632 826 2,458
Receivables for Investment Securities Sold 1,264 0 1,264
Receivables for Capital Shares Sold 335 80 415
Other Assets 14 31 45
------------- ------------- ------------
Total Assets 139,983 91,878 231,861
------------- ------------- ------------
LIABILITIES
Accrued Expenses (107) (72) (179)
Income/Distribution Payable (573) (220) (793)
Payable for Investment Securities Purchased (1,794) (7,572) (9,366)
Payable for Capital Shares Redeemed (1,869) (13) (1,882)
Other Liabilities (21) (21) (42)
------------- ------------- ------------
Total Liabilities (4,364) (7,898) (12,262)
------------- ------------- ------------
NET ASSETS
Portfolio shares of the Trust Class (unlimited authorization -
no par value) based on (12,951, 21,202) outstanding shares
of beneficial interest 129,246 0 84,753 (a) 213,999
Portfolio shares of the Trust Class (1.4 billion authorized -
$.001 par value) based on 8,415 outstanding shares of
beneficial interest 0 84,753 (84,753) (a) 0
Portfolio shares of the Investor Class (unlimited authorization -
no par value) based on 180 outstanding shares of beneficial
interest 1,797 0 1,797
Portfolio shares of the Flex Class (unlimited authorization -
no par value) based on 190 outstanding shares of beneficial
interest 1,905 0 1,905
Distributions in excess of net investment income 0 (16) (16)
Accumulated net realized gain (loss) on investments 419 (1,811) (1,392)
Net unrealized appreciation on investments 2,252 1,054 3,306
------------- ------------- ------------
Total Net Assets $135,619 $83,980 $0 $219,599
------------- ------------- ------------ ------------
------------- ------------- ------------ ------------
Net Asset Value, Offering and Redemption Price Per Share -
Trust Shares $10.18 $10.18
------------- ------------
------------- ------------
Net Asset Value, Offering and Redemption Price Per Share -
Trust Shares $9.98
-------------
-------------
Net Asset Value and Redemption Price Per Share -
Investor Shares $10.20 $10.20
------------- ------------
------------- ------------
Maximum Offering Price Per Share - Investor Shares ($10.20 /
98.00%) $10.41 $10.41
------------- ------------
------------- ------------
Net Asset Value, Offering and Redemption Price Per Share -
Flex Shares $10.20 $10.20
------------- ------------
------------- ------------
Pro Forma Statement of Assets and Liabilities (Unaudited)
STI Classic Funds U.S. Government Securities Fund
Crest Funds Government Bond Fund
November 30, 1998
(000)
Pro Forma
Combined STI
Classic U.S.
STI Classic U.S. Crest Funds Government
Government Government Bond Pro Forma Securities
Securities Fund Fund Adjustments Fund
ASSETS
Total Investments at Market Value (Cost $47,119, $55,083 and
$102,202) $48,823 $55,949 $104,772
Accrued Income 312 322 634
Receivables for Investment Securities Sold 3 0 3
Receivables for Capital Shares Sold 17 48 65
Other Assets 11 12 23
------------- ------------- ------------
Total Assets 49,166 56,331 105,497
------------- ------------- ------------
LIABILITIES
Accrued Expenses (44) (51) (95)
Income/Distribution Payable (215) (152) (367)
Payable for Investment Securities Purchased 0 (3,534) (3,534)
Payable for Capital Shares Redeemed (93) (27) (120)
Other Liabilities 0 (119) (119)
------------- ------------- ------------
Total Liabilities (352) (3,883) (4,235)
------------- ------------- ------------
NET ASSETS
Portfolio shares of the Trust Class (unlimited authorization - no
par value) based on (3,872, 8,580) outstanding shares of
beneficial interest 39,731 0 48,180 (a) 87,911
Portfolio shares of the Trust Class (.75 billion authorized -
$.001 par value) based on 4,706 outstanding shares of
beneficial interest 0 48,180 (48,180) (a) 0
Portfolio shares of the Investor Class (unlimited authorization -
no par value) based on 288 outstanding shares of beneficial
interest 2,924 0 2,924
Portfolio shares of the Flex Class (unlimited authorization - no
par value) based on (432, 657) outstanding shares of beneficial
interest 4,463 0 2,345 (a) 6,808
Portfolio shares of the Investor Class B (.125 billion authorized -
$.001 par value) based on 225 outstanding shares of beneficial
interest 0 2,345 (2,345) (a) 0
Distributions in excess of net investment income 0 (2) (2)
Accumulated net realized (loss) gain on investments (8) 1,059 1,051
Net unrealized appreciation on investments 1,704 866 2,570
------------- ------------- ------------
Total Net Assets $48,814 $52,448 $0 $101,262
------------- ------------- ------------ ------------
------------- ------------- ------------ ------------
Net Asset Value, Offering and Redemption Price Per Share -
Trust Shares $10.63 $10.63
------------- ------------
------------- ------------
Net Asset Value, Offering and Redemption Price Per Share -
Trust Shares $10.64
-------------
-------------
Net Asset Value and Redemption Price Per Share - Investor
Shares $10.63 $10.63
------------- ------------
------------- ------------
Maximum Offering Price Per Share - Investor Shares ($10.63
/ 96.25%) $11.04 $11.04
------------- ------------
------------- ------------
Net Asset Value, Offering and Redemption Price Per Share -
Flex Shares $10.63 $10.63
------------- ------------
------------- ------------
Net Asset Value, Offering and Redemption Price Per Share -
Investor Class B $10.67
-------------
-------------
Pro Forma Statement of Assets and Liabilities (Unaudited)
STI Classic Funds Small Cap Growth Stock Fund
Crest Funds Special Equity Fund
November 30, 1998
(000)
Pro Forma
Combined STI
Classic Funds
STI Classic Funds Crest Funds Small Cap
Small Cap Growth Special Equity Pro Forma Growth Stock
Stock Fund Fund Adjustments Fund
ASSETS
Total Investments at Market Value (Cost $12,761, $92,094 and
$104,855) $14,121 $98,858 $112,979
Cash 17 0 17
Accrued Income 3 32 35
Receivables for Investment Securities Sold 0 4,631 4,631
Receivables for Capital Shares Sold 185 93 278
Other Assets 9 20 29
------------- ------------- ------------
Total Assets 14,335 103,634 117,969
------------- ------------- ------------
LIABILITIES
Accrued Expenses (24) (133) (157)
Payable for Investment Securities Purchased (26) (5,409) (5,435)
Payable for Capital Shares Redeemed 0 (107) (107)
------------- ------------- ------------
Total Liabilities (50) (5,649) (5,699)
------------- ------------- ------------
NET ASSETS
Portfolio shares of the Trust Class (unlimited authorization -
no par value) based on (1,016, 8,201) outstanding shares of
beneficial interest 12,131 0 95,235 (a) 107,366
Portfolio shares of the Trust Class (.75 billion authorized - $.001
par value) based on 7,385 outstanding shares of beneficial
interest 0 90,320 (90,320) (a) 0
Portfolio shares of the Investor Class A (.125 billion authorized -
$.001 par value) based on 407 outstanding shares of beneficial
interest 0 4,915 (4,915) (a) 0
Portfolio shares of the Flex Class (unlimited authorization - no
par value) based on (61, 264) outstanding shares of beneficial
interest 762 0 3,234 (a) 3,996
Portfolio shares of the Investor Class B (.125 billion authorized -
$.001par value) based on 227 outstanding shares of beneficial
interest 0 3,234 (3,234) (a) 0
Undistributed net investment income 1 0 1
Accumulated net realized gain (loss) on investments 31 (7,248) (7,217)
Net unrealized appreciation on investments 1,360 6,764 8,124
------------- ------------- ------------
Total Net Assets $14,285 $97,985 $0 $112,270
------------- ------------- ------------ ------------
------------- ------------- ------------ ------------
Net Asset Value, Offering and Redemption Price Per Share -
Trust Shares $13.26 $13.26
------------- ------------
------------- ------------
Net Asset Value, Offering and Redemption Price Per Share -
Trust Shares $12.23
-------------
-------------
Net Asset Value and Redemption Price Per Share - Investor
Class A $12.22
-------------
-------------
Maximum Offering Price Per Share - Investor Class A ($12.22
/ 95.50%) $12.80
-------------
-------------
Net Asset Value, Offering and Redemption Price Per Share -
Flex Shares $13.24 $13.24
------------- ------------- ------------
------------- ------------- ------------
Net Asset Value, Offering and Redemption Price Per Share -
Investor Class B $11.87
-------------
-------------
Pro Forma Statement of Operations (000)
For the Period December 1, 1997 to November 30, 1998
Pro Forma
Combined STI
STI Classic Prime Classic Prime
Quality Money CrestFunds Cash Quality Money
Market Fund Reserve Fund Market Fund
------------------- ----------------- ---------------
Interest Income: $ 123,461 $ 67,006 $ 190,467
------------------- ----------------- ---------------
Expenses:
Investment Advisory Fees 14,303 4,310 3,403 (b) 22,016
Less: Investment Advisory Fees Waived (3,347) - (1,734) (b) (5,081)
Administrator Fees 1,741 1,780 (1,046) (b) 2,475
Less: Administrator Fees Waived (310) - 128 (b) (182)
Transfer Agent Fees - Trust Shares 16 514 (495) (b) 35
Transfer Agent Fees - Investor Shares 15 95 (82) (b) 28
Transfer Agent Out of Pocket Fees 208 - 137 (b) 345
Printing Expenses 143 101 (63) (b) 181
Custody Fees 72 439 (358) (b) 153
Professional Fees 104 126 (64) (b) 166
Trustee Fees 28 18 (16) (b) 30
Registration Fees 302 148 (302) (b) 148
Distribution Fees - Trust Class 1,541 (1,541) (b) -
Less: Distribution Fees Waived - Trust Class (1,541) 1,541 (b) -
Distribution Fees - Investor Shares 888 637 (318) (b) 1,207
Less: Distribution Fees Waived - Investor Shares (221) (637) 656 (b) (202)
Distribution Fees - Flex Shares - 1 (1) (b) -
Less: Distribution Fees Waived - Flex Shares - - - -
Insurance and Other Fees 16 7 6 (b) 29
------------------- ----------------- ------------ ---------------
Total Expenses 13,958 7,539 (149) 21,348
------------------- ----------------- ------------ ---------------
Net Investment Income 109,503 59,467 169,119
------------------- ----------------- ---------------
Net Realized (Loss) on Securities Sold (21) - (21)
------------------- ----------------- ---------------
Increase in Net Assets Resulting From Operations $ 109,482 $ 59,467 $ 169,098
------------------- ----------------- ---------------
------------------- ----------------- ---------------
Amounts designated as "-" are either $0 or have been rounded to $0.
Pro Forma Statement of Operations (000)
For the Period December 1, 1997 to November 30, 1998
Pro Forma Combined
STI Classic CrestFunds STI Classic
Investment Grade Intermediate Bond Investment Grade
Bond Fund Fund Bond Fund
------------------- ----------------- ---------------
Interest Income $ 50,670 $ 20,359 $ 71,029
------------------- ----------------- ---------------
Expenses:
Investment Advisory Fees 6,095 1,885 440 (b) 8,420
Less: Investment Advisory Fees Waived (776) - (127) (b) (903)
Administrator Fees 653 471 (292) (b) 832
Transfer Agent Fees - Trust Shares 28 156 (152) (b) 32
Transfer Agent Fees - Investor Shares 19 2 6 (b) 27
Transfer Agent Fees - Flex Shares 22 - 8 (b) 30
Transfer Agent Out of Pocket Fees 87 - 29 (b) 116
Printing Expenses 75 24 (38) (b) 61
Custody Fees 36 99 (84) (b) 51
Professional Fees 59 34 (38) (b) 55
Trustee Fees 11 6 (7) (b) 10
Registration Fees 77 21 (48) (b) 50
Distribution Fees - Trust Class 599 (599) (b) -
Less: Distribution Fees Waived - Trust Class (575) 575 (b) -
Distribution Fees - Investor Shares 142 4 8 (b) 154
Less: Distribution Fees Waived - Investor Shares (41) (4) 9 (b) (36)
Distribution Fees - Flex Shares 130 - - (b) 130
Less: Distribution Fees Waived - Flex Shares (35) - (9) (b) (44)
Insurance and Other Fees (2) 36 1 (b) 35
------------------- ----------------- ----------- ---------------
Total Expenses 6,580 2,758 (318) 9,020
------------------- ----------------- ----------- ---------------
Net Investment Income 44,090 17,601 62,009
------------------- ----------------- ---------------
Net Realized and Unrealized Gain (Loss) on Investments:
Net Realized Gain on Securities Sold 24,094 6,795 30,889
Net Unrealized Appreciation (Depreciation) on
Investments: 7,667 (1,500) 6,167
------------------- ----------------- ---------------
Total Net Realized and Unrealized Gain on Investments 31,761 5,295 37,056
------------------- ----------------- ---------------
Increase in Net Assets Resulting From Operations $ 75,851 $ 22,896 $ 99,065
------------------- ----------------- ---------------
------------------- ----------------- ---------------
Amounts designated as "-" are either $0 or have been rounded to $0.
Pro Forma Statement of Operations (000)
For the Period December 1, 1997 to November 30, 1998
Pro Forma Combined
STI Classic Short CrestFunds Limited STI Classic Short
Term Bond Fund Term Bond Fund Term Bond Fund
------------------- ----------------- ---------------
Interest Income $ 7,518 $ 5,165 $ 12,683
------------------- ----------------- ---------------
Expenses:
Investment Advisory Fees 818 408 121 (b) 1,347
Less: Investment Advisory Fees Waived (162) - (60) (b) (222)
Administrator Fees 100 122 (71) (b) 151
Transfer Agent Fees - Trust Shares 17 41 (28) (b) 30
Transfer Agent Fees - Investor Shares 11 - 2 (b) 13
Transfer Agent Fees - Flex Shares 12 - 1 (b) 13
Transfer Agent Out of Pocket Fees 13 - 8 (b) 21
Printing Expenses 12 3 (4) (b) 11
Custody Fees 4 22 (17) (b) 9
Professional Fees 6 9 (5) (b) 10
Trustee Fees 2 1 (1) (b) 2
Registration Fees 16 8 (15) (b) 9
Distribution Fees - Trust Class 156 (156) (b) -
Less: Distribution Fees Waived - Trust Class (150) 150 (b) -
Distribution Fees - Investor Shares 5 - - (b) 5
Less: Distribution Fees Waived - Investor Shares (5) - - (b) (5)
Distribution Fees - Flex Shares 17 - - (b) 17
Less: Distribution Fees Waived - Flex Shares (16) - - (b) (16)
Insurance and Other Fees 3 2 1 (b) 6
Amortization of Deferred Organization Costs 3 - (3) (b) -
------------------- ----------------- ----------- ---------------
Total Expenses 856 622 (77) 1,401
------------------- ----------------- ----------- ---------------
Net Investment Income 6,662 4,543 11,282
------------------- ----------------- ---------------
Net Realized and Unrealized Gain on Investments:
Net Realized Gain on Securities Sold 450 67 517
Net Unrealized Appreciation on Investments: 1,658 453 2,111
------------------- ----------------- ---------------
Net Realized and Unrealized Gain on Investments 2,108 520 2,628
------------------- ----------------- ---------------
Increase in Net Assets Resulting From Operations $ 8,770 $ 5,063 $ 13,910
------------------- ----------------- ---------------
------------------- ----------------- ---------------
Amounts designated as "-" are either $0 or have been rounded to $0.
Pro Forma Statement of Operations (000)
For the Period December 1, 1997 to November 30, 1998
Pro Forma Combined
STI Classic U.S. CrestFunds STI Classic U.S.
Government Government Bond Government
Securities Fund Fund Securities Fund
------------------- ----------------- ---------------
Interest Income $ 2,643 $ 2,959 $ 5,602
------------------- ----------------- ---------------
Expenses:
Investment Advisory Fees 303 282 66 (b) 651
Less: Investment Advisory Fees Waived (52) (47) (6) (b) (105)
Administrator Fees 33 71 (40) (b) 64
Less: Administrator Fees Waived - (56) 56 (b) -
Transfer Agent Fees - Trust Shares 17 23 (5) (b) 35
Transfer Agent Fees - Investor Shares 12 - - 12
Transfer Agent Fees - Flex Shares 12 1 3 (b) 16
Transfer Agent Out of Pocket Fees 3 - 6 (b) 9
Printing Expenses 3 2 (1) 4
Custody Fees 2 22 (20) (b) 4
Professional Fees - 8 (4) (b) 4
Trustee Fees - 1 - 1
Registration Fees 1 2 - (b) 3
Distribution Fees - Trust Class 87 (87) (b) -
Less: Distribution Fees Waived - Trust Class (83) 83 (b) -
Distribution Fees - Investor Shares 12 - - (b) 12
Less: Distribution Fees Waived - Investor Shares (10) - - (b) (10)
Distribution Fees - Flex Shares 39 17 2 (b) 58
Less: Distribution Fees Waived - Flex Shares (13) (1) (5) (b) (19)
Insurance and Other Fees - 3 - 3
Amortization of Deferred Organization Costs 1 - (1) (b) -
------------------- ----------------- ----------- ---------------
Total Expenses 363 332 47 742
------------------- ----------------- ----------- ---------------
Net Investment Income 2,280 2,627 4,860
------------------- ----------------- ---------------
Net Realized and Unrealized Gain on Investments:
Net Realized Gain on Securities Sold 20 1,063 1,083
Net Unrealized Appreciation on Investments: 1,075 171 1,246
------------------- ----------------- ---------------
Net Realized and Unrealized Gain on Investments 1,095 1,234 2,329
------------------- ----------------- ---------------
Increase in Net Assets Resulting From Operations $ 3,375 $ 3,861 $ 7,189
------------------- ----------------- ---------------
------------------- ----------------- ---------------
Amounts designated as "--" are either $0 or have been rounded to $0.
Pro Forma Statement of Operations (000)
For the Period December 1, 1997 to November 30, 1998
Pro Forma Combined
STI Classic Small STI Classic Small
Cap Growth Stock CrestFunds Special Cap Growth Stock
Fund Equity Fund Fund
------------------- ----------------- ---------------
Investment Income:
Interest Income $ 10 $ 282 $ 292
Dividend Income 4 697 701
------------------- ----------------- ---------------
Total Investment Income 14 979 993
------------------- ----------------- ---------------
Expenses:
Investment Advisory Fees 12 890 543 (b) 1,445
Less: Investment Advisory Fees Waived (12) - (95) (b) (107)
Less: Contribution from Advisor (3)
Administrator Fees 1 178 (87) (b) 92
Transfer Agent Fees - Trust Shares 2 55 (20) (b) 37
Transfer Agent Fees - Investor Shares - 3 (3) (b) -
Transfer Agent Fees - Flex Shares 2 2 13 (b) 17
Transfer Agent Out of Pocket Fees 11 - 2 (b) 13
Printing Expenses - 5 2 (b) 7
Custody Fees - 46 (40) (b) 6
Professional Fees - 17 (11) (b) 6
Trustee Fees - 2 (1) (b) 1
Registration Fees - 18 (13) (b) 5
Distribution Fees - Trust Class 212 (212) (b) -
Less: Distribution Fees Waived - Trust Class (199) 199 (b) -
Distribution Fees - Investor Shares - 9 (9) (b) -
Less: Distribution Fees Waived - Investor Shares - (9) 9 (b) -
Distribution Fees - Flex Shares - 28 3 (b) 31
Less: Distribution Fees Waived - Flex Shares - (1) (13) (b) (14)
Insurance and Other Fees - 1 1 (b) 2
Amortization of Deferred Organization Costs - - - -
------------------- ----------------- ----------- ---------------
Total Expenses 13 1,257 268 1,541
------------------- ----------------- ----------- ---------------
Net Investment Income 1 (278) (548)
------------------- ----------------- ---------------
Net Realized and Unrealized Gain (Loss) on Investments:
Net Realized Gain (Loss) on Securities Sold 31 (7,030) (6,999)
Net Unrealized Appreciation (Depreciation) on
Investments: 1,360 (10,799) (9,439)
------------------- ----------------- ---------------
Net Realized and Unrealized Gain (Loss) on Investments 1,391 (17,829) (16,438)
------------------- ----------------- ---------------
Increase in Net Assets Resulting From Operations $ 1,392 $ (18,107) $ (16,986)
------------------- ----------------- ---------------
------------------- ----------------- ---------------
Amounts designated as "-" are either $0 or have been rounded to $0.
STI CLASSIC FUNDS/CRESTFUNDS
Notes to Pro Forma Financial Statements
November 30, 1998
1. BASIS OF COMBINATION
The unaudited Pro Forma Combining Schedule of Investments, Pro Forma Combining
Statements of Assets and Liabilities and Pro Forma Combining Statements of
Operations give effect to the proposed acquisition of the CrestFunds Cash
Reserve Fund by the STI Classic Prime Quality Money Market Fund, the CrestFunds
Special Equity Fund by the STI Classic Small Cap Growth Stock Fund, the
CrestFunds Intermediate Bond Fund by the STI Classic Investment Grade Bond Fund,
the CrestFunds Limited Term Bond Fund by the STI Classic Short-Term Bond Fund,
and the CrestFunds Government Bond Fund by the STI Classic U.S. Government
Securities Fund. The proposed acquisition will be accounted for by the method of
accounting for tax free mergers of investment companies (sometimes referred to
as the pooling without restatement method). The acquisition will be accomplished
by an exchange of all outstanding shares of the Trust Class of the CrestFunds in
exchange for shares of the Trust Class of the corresponding STI Classic Fund,
all outstanding shares of the Investors Class A of the CrestFunds in exchange
for shares of the Investor Class of the corresponding STI Classic Fund, except
for holders of the Investors Class A of the CrestFunds Special Equity Fund which
will receive Trust shares of the STI Classic Small Cap Growth Stock Fund, and
all outstanding shares of the Investors Class B of the CrestFunds in exchange
for shares of the Flex Class of the corresponding STI Classic Fund, except for
holders of the Investor Class B shares of the CrestFunds Cash Reserve Fund which
will receive Investor shares of the STI Classic Prime Quality Money Market Fund.
The pro forma combining statements should be read in conjunction with the
historical financial statements of the constituent funds and the notes thereto
incorporated by reference in the Statement of Additional Information.
The STI Classic Funds and the CrestFunds are both, open-end, management
investment company registered under the Investment Company Act of 1940, as
amended.
PRO FORMA ADJUSTMENTS:
a) The Pro Forma combining statements of assets and liabilities assume the
issuance of additional shares of the respective STI Classic Fund as if the
reorganizations had taken place on November 30, 1998 and are based on the
net asset value of the acquiring fund. In addition, each respective STI
Classic Fund is the surviving fund for accounting purposes.
b) The Pro Forma adjustments reflect the impact of applying the contractual
fees in place for the surviving STI Funds for Advisor, Administrator,
Distributor as well as the expected savings on other expenses due to the
combination of the funds.