Money Market Funds - COUNTRY Financial

Prime Obligations FundBeginning AccountValue (3/01/08)Ending AccountValue (8/31/08)Expenses Paid DuringPeriod 1 (3/01/08 to8/31/08)Class A Actual 2 $1,000.00 $1,010.90 $3.94Class A Hypothetical (5% return before expenses) $1,000.00 $1,021.22 $3.96Class B Actual 2 $1,000.00 $1,008.60 $6.21Class B Hypothetical (5% return before expenses) $1,000.00 $1,018.95 $6.24Class C Actual 2 $1,000.00 $1,008.60 $6.21Class C Hypothetical (5% return before expenses) $1,000.00 $1,018.95 $6.24Class D Actual 2 $1,000.00 $1,011.70 $3.19Class D Hypothetical (5% return before expenses) $1,000.00 $1,021.97 $3.20Class I Actual 2 $1,000.00 $1,012.80 $2.02Class I Hypothetical (5% return before expenses) $1,000.00 $1,023.13 $2.03Class Y Actual 2 $1,000.00 $1,012.40 $2.43Class Y Hypothetical (5% return before expenses) $1,000.00 $1,022.72 $2.44Class Z Actual 2 $1,000.00 $1,013.90 $1.01Class Z Hypothetical (5% return before expenses) $1,000.00 $1,024.13 $1.02Institutional Investor Class Actual 2 $1,000.00 $1,013.30 $1.52Institutional Investor Class Hypothetical (5% return before expenses) $1,000.00 $1,023.63 $1.531 Expenses are equal to the fund’s annualized expense ratio for the most recent six-month period of 0.78%, 1.23%, 1.23%, 0.63%, 0.40%, 0.48%, 0.20%, and 0.30% forClass A, Class B, Class C, Class D, Class I, Class Y, Class Z, and Institutional Investor Class, respectively, multiplied by the average account value over the period,multiplied by the number of days in the most recent fiscal half-year/366 (to reflect the one-half year period).2 Based on the actual returns for the six-month period ended August 31, 2008 of 1.09%, 0.86%, 0.86%, 1.17%, 1.28%, 1.24%, 1.39%, and 1.33% for Class A, Class B,Class C, Class D, Class I, Class Y, Class Z, and Institutional Investor Class, respectively.Tax Free Obligations FundBeginning AccountValue (3/01/08)Ending AccountValue (8/31/08)Expenses Paid DuringPeriod 3 (3/01/08 to8/31/08)Class A Actual 4 $1,000.00 $1,006.20 $3.78Class A Hypothetical (5% return before expenses) $1,000.00 $1,021.37 $3.81Class D Actual 4 $1,000.00 $1,007.00 $3.03Class D Hypothetical (5% return before expenses) $1,000.00 $1,022.12 $3.05Class Y Actual 4 $1,000.00 $1,007.70 $2.27Class Y Hypothetical (5% return before expenses) $1,000.00 $1,022.87 $2.29Class Z Actual 4 $1,000.00 $1,009.00 $1.01Class Z Hypothetical (5% return before expenses) $1,000.00 $1,024.13 $1.02Institutional Investor Class Actual 4 $1,000.00 $1,008.50 $1.51Institutional Investor Class Hypothetical (5% return before expenses) $1,000.00 $1,023.63 $1.533 Expenses are equal to the fund’s annualized expense ratio for the most recent six-month period of 0.75%, 0.60%, 0.45%, 0.20%, and 0.30% for Class A, Class D,Class Y, Class Z, and Institutional Investor Class, respectively, multiplied by the average account value over the period, multiplied by the number of days in the mostrecent fiscal half-year/366 (to reflect the one-half year period).4 Based on the actual returns for the six-month period ended August 31, 2008 of 0.62%, 0.70%, 0.77%, 0.90%, and 0.85% for Class A, Class D, Class Y, Class Z, andInstitutional Investor Class, respectively.FIRST AMERICAN FUNDS 2008 Annual Report 5