How is the Alcor Patient Care Trust weathering the economic downturn?

The Alcor Patient Care Trust (PCT) was under the active management of
Morgan Stanley advisors and was protected from some of the market
drop. The SP500 lost approximately 38% of its value in 2008 while the
Alcor PCT lost approximately 23% of its value in 2008. Despite this
clear over-performance in 2008, the PCT Board was not satisfied with
the absolute drop in the PCT.

Therefore, we have taken the following steps for 2009:

(a) added a new PCT Board member, with extensive
investing experience, to help set up a long term management program for the PCT;

(b) significantly reduced our market exposure while still expecting reasonable returns in the future;

(c) made the decision to regularly publish information about the PCT performance on the Alcor web site as soon as our volunteers complete the reporting.