Top 10 Holdings as of 9.30.07

TOP 10 HOLDINGS *
Cambiar
MSCI EAFE
Noble Group Ltd.
4.0
0.1
BMW
4.0
0.0
Infineon Tech ADR.
3.9
0.0
Lenovo Group
3.5
0.0
Muenchener Rueckver Regs
3.3
0.1
British Sky Broadcasting
3.2
0.4
Ericsson
3.2
0.0
Gea Group
3.2
0.9
Kinross Group
3.2
0.1
Shanghai Electric
3.1
0.0

Total

34.6% 

1.6% 




Sector Weightings as of 9.30.07

SECTOR WEIGHTINGS *
Cambiar
MSCI EAFE
Basic Materials
13.7
9.9
Consumer Discretionary
7.8
11.2
Consumer Staples
8.6
8.0
Energy
6.4
7.5
Financials
10.6
27.9
Health Care
2.7
6.3
Industrials
17.3
12.1
Technology
21.2
5.9
Telecom Services
11.8
5.8
Utilities
0.0
5.4



Characteristics as of 9.30.07

CHARACTERISTICS *
Cambiar
MSCI EAFE
P/E Ratio - 1 Year Forecast
14.7x
13.5x
Price/Book
2.4x
2.4x
EPS Growth - Long Term
18.0%
8.9% 
Dividend Yield
1.8%
2.6%
Wtd Avg Mkt Cap
$35.0 B
$63.1 B
Median Market Cap
$10.7 B
$6.2 B

* The above listed securities and sectors are presented for the Cambiar International Equity Fund as of September 30, 2007. Characteristics are presented for the Cambiar International Equity Fund as of September  30, 2006. Portfolio holdings, characteristics and sector weightings may change over time and may differ between clients based upon their investment objectives, financial situations and risk tolerances. Cambiar makes no warranty, either express or implied, that the weightings shown will be used to manage your account. Past performance in no guarantee of future results. The securities presented do not represent all securities recommended for advisory clients. The information provided on this page should not be considered a recommendation to purchase or sell any particular security. There can be no assurance that an investor will earn a profit or not lose money.

T
he one year forecast is included for illustrative purposes and accordingly, no assumptions or comparisons should be made based upon these ratios. The projected ratios are based upon third party sources that are deemed to be reliable, however, Cambiar does not guarantee its accuracy or completeness.