December 2002 Stock Picks

ACE'S STOCK ACES
Growth Stocks Discovery & Information Systems

DECEMBER 2002 STOCK PICKS
Stock Name	SYM	Exch.	Sector	Industry	Date Picked	Pick Price (per share)
Emerson Radio Corp.	MSN	AMEX	Consumer Cyclical	Audio & Video Equipment	12/09/02	$4.43
Nutraceutical International Corp.	NUTR	NASD	Healthcare	Biotechnology & Drugs	12/09/02	$9.23
Heritage Financial Corp.	HFWA	NASD	Financial	S&Ls/ Savings Banks	12/02/02	$17.20

Emerson Radio Corp. operates in two business segments: consumer
electronics; and sporting goods. (Ticker: MSN; Exch: NASD; 12/09/02 Price: $4.43/shr.)

ACE'S STOCK RATING: 50.0+ (As of 12/09/02. Best possible rating: 50.0)
STOCK'S CORE STRENGTHS:

Management's Effectiveness (12 Mo.)	. . .	Return on Equity:	84.18%

Profitability (12 Mo.)	. . .	Profit Margin:	6.35%

Stock's Growth Record (12 Mo.)	. . .	Revenue:	(15.62)%
	. . .	EPS:	59.45%
	. . .	Price:	240.77%
	. . .	Dividend:	NA%

PE & EPS (12 Mo.)	. . .	Price/Earnings:	5.10
	. . .	Earnings/Share:	0.64

STOCK INFO/RESEARCH: .

STOCK'S 12-MONTH GAIN (LOSS), 12/09/02 - 12/09/03: (24.38%)

STOCK'S 48-MONTH GAIN (12/09/02 - 12/09/06) GAIN: (29.12%)
($4.43sh. - $3.14sh.)

Nutraceutical International Corp. is a manufacturer and marketer of nutritional supplements and natural foods sold to health and natural food stores. (Ticker: NUTR; Exch: NASD; 12/09/02 Price: $9.23/shr.)

ACE'S STOCK RATING: 35.7 (As of 12/09/02. Best possible rating: 50.0)
STOCK'S CORE STRENGTHS:

      Management's Effectiveness (12 Mo.) . . . Return on Equity:    24.15%

      Profitability (12 Mo.) . . . Profit Margin:    10.74%

      Stock's Growth Record (12 Mo.) . . . Revenue:      7.05%

. . . EPS:    70.89%

. . . Price: 103.60%

. . . Dividend:       NA%

      PE & EPS (12 Mo.) . . . Price/Earnings:       8.10

. . . Earnings/Share:       1.01

STOCK INFO/RESEARCH:

STOCK'S 12-MONTH GAIN (LOSS), 12/09/02 - 12/09/03: 32.72%

STOCK'S 48-MONTH GAIN (12/09/02 - 12/09/06) GAIN: 65.98%
($9.23sh. - $15.32sh.)

Heritage Financial Corp. is the bank holding company of Heritage Savings Bank (Heritage Bank), a state-chartered savings bank, and Central Valley Bank, N.A., a national bank. (Ticker: HFWA; Exch: NASD; 12/02/02 Price: $17.20/shr.)

ACE'S STOCK RATING: 34.20 (As of 12/02/02. Best possible rating: 50.0)
STOCK'S CORE STRENGTHS:

      Management's Effectiveness (12 Mo.) . . . Return on Equity:    11.93%

      Profitability (12 Mo.) . . . Profit Margin:    22.29%

      Stock's Growth Record (12 Mo.) . . . Revenue:      2.14%

. . . EPS:    32.30%

. . . Price:    49.74%

. . . Dividend:    24.24%

      PE & EPS (12 Mo.) . . . Price/Earnings:    13.88

. . . Earnings/Share:      1.21

STOCK INFO/RESEARCH:

STOCK'S 12-MONTH GAIN (LOSS), 12/02/02 - 12/02/03: 33.95%

STOCK'S 48-MONTH GAIN (12/02/02 - 12/02/06) GAIN: 80.15%
($14.38sh. - $23.03sh.)

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