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Natural Resource Partners LP (NRP) Yearly Returns

Year	Beginning Price	Ending Price	Gain or Loss	Percent Gain or Loss
2003	20.70	41.40	20.70	100.00%
2004	41.40	57.65	16.25	39.25%
2005	57.65	50.25	-7.40	-12.84%
2006	50.25	57.95	7.70	15.32%
2007	57.95	64.92*	6.97	12.03%
2008	32.46	17.45	-15.01	-46.24%
2009	17.45	24.24	6.79	38.91%
2010	24.24	33.20	8.96	36.96%
2011	33.20	27.11	-6.09	-18.34%

*The 2007 ending price for Natural Resource Partners has been adjusted for a 2 for 1 stock split.