April, 2005

50 SMALL-CAP STOCKS TO WATCH
Fund managers agree that great opportunities are still available to those who invest in promising individual stocks. The small-cap managers we polled look for companies with first-rate management, a compelling business model and a great price.

Company	Stock Price $ (3/1/2005)	Headquarters
ADE	20.19	Westwood, MA
Aftermarket Technologies	14.35	Downers Grove, IL
Analysts International	3.73	Minneapolis, MN
ArQule	5.03	Woburn, MA
Benchmark Electronics	32.69	Angleton, TX
Blue Nile	28.20	Seattle, WA
Carter's	39.25	Atlanta, GA
Century Aluminum	31.79	Monterey, CA
Chesapeake Utilities	27.05	Dover, DE
CTG Resources	3.96	Buffalo, NY
DeVry	17.26	Oakbrook Terrace, IL
Diodes	26.03	Westlake Village, CA
Drew	37.42	White Plains, NY
Encore Acquisition	42.00	Fort Worth, TX
Ezcorp	20.43	Austin, TX
Flanders	10.60	St. Petersburg, FL
Foundation Coal Holdings	25.15	Linthicum Heights, MD
GenCorp	19.04	Rancho Cordova, CA
GulfMark Offshore	26.02	Houston, TX
Hansen Natural	45.21	Corona, CA
Healthcare Services	23.32	Bensalem, PA
Home Federal Bancorp	12.76	Columbus, IN
ICU Medical	31.98	San Clemente, CA
Jarden	43.44	Rye, NY
Kerzner International	63.53	Plantation, FL
Kforce	11.44	Tampa, FL
Lifeline Systems	27.25	Framingham, MA
Lions Gate Entertainment	10.90	Santa Monica, CA
Lithia Motors	26.69	Medford, OR
LSI Industries	11.83	Cincinnati, OH
MIDDLEBY CORP.	55.15	Elgin, IL
Nautilus Group	22.20	Vancouver, WA
NovaGold Resources	9.07	Vancouver, British Columbia
Orbital Sciences	10.70	Dulles, VA
Paramount Resources	30.30	Calgary, Alberta
PetMed Express	8.19	Pompano Beach, FL
PSS World Medical	12.15	Jacksonville, FL
Raven Industries	18.30	Sioux Falls, SD
Saxon Capital	18.03	Glen Allen, VA
Synnex	22.90	Fremont, CA
Tejon Ranch	51.64	Lebec, CA
Triarc	15.69	New York, NY
Universal Forest Products	40.05	Grand Rapids, MI
ValueClick	12.58	Westlake Village, CA
ValueVision Media	12.97	Eden Prairie, MN
Van der Moolen Holding	7.87	New York, NY
WCA Waste	9.50	Houston, TX
Westshore Terminals Income Fund	13.85	Delta, British Columbia
Westwood Holdings Group	19.40	Dallas, TX
Willbros Group	19.99	Houston, TX