SUMMARY ANNUAL REPORT FOR THE LABORERS NATIONAL PENSION FUND
This is a summary of the annual report (Form 5500) for the Laborers National Pension Fund, Employer Identification Number 75-1280827, for the fiscal year ended December 31, 2006. The annual report has been filed with the U.S. Department of Labor as required under the Employee Retirement Income Security Act of 1974 (ERISA). ERISA requires such a summary be provided to you annually.

BASIC FINANCIAL STATEMENT
Benefits under the Plan are provided in whole by a trust fund. Plan expenses were $145,996,755. These expenses included $2,868,295 in administrative expenses, $6,462,548 in investment expenses and $136,665,912 in benefits paid to participants and beneficiaries. A total of 45,849 persons were participants and/or beneficiaries of the Plan by the end of the Plan year although not all of these persons had yet earned the right to receive benefits.

The value of Plan assets after subtracting liabilities of the Plan was $1,762,004,832 as of December 31, 2006, compared to $1,649,612,897 as of January 1, 2006. During the Plan year, the Plan experienced an increase in its net assets of $112,391,935. This increase included unrealized appreciation or depreciation in value of the Plan’s assets; that is, the difference between the value of Plan assets at the end of the year and the value of the assets at the beginning of the year, or the cost of assets acquired during the year.

The Plan had total income of $258,388,690, including employer contributions of $40,582,954, and net earnings from investments of $217,805,736.

MINIMUM FUNDING STANDARDS
An Actuary's statement shows that enough money was contributed to the Plan to keep it funded in accordance with the minimum funding standards of ERISA.

YOUR RIGHTS TO ADDITIONAL INFORMATION
You have the right to receive a copy of the full annual report, or any part thereof, on request. The items listed below are included in that report:

1. An accountant's report;
   
   
2. Financial information and information on payments to service providers;
   
   
3. Assets held for investment;
   
   
4. Transactions in excess of 5% of the Plan assets;
   
   
5. Information regarding any common or collective trusts pooled separate accounts, master trusts or 103-12 investment entities in which the Plan participates; and,
   
   
6. Actuarial information regarding the funding of the Plan.
   

To obtain a copy of the full annual report, or any part there­of, write or call the office of Lu Beth Greene, who is the Fund Administrator, P.O. Box 803415, Dallas, Texas 75380-3415, (972) 233-4458. The charge to cover copying costs will be $29.50 for the full annual report, or 25 cents per page for any part thereof.

You also have the right to receive from the Plan Administrator, on request and at no charge, a statement of the assets and liabilities of the Plan and accompanying notes, or a statement of income and expenses of the Plan and accom­panying notes, or both. If you request a copy of the full annual report from the Plan Administrator, these two statements and accompanying notes will be included as part of that report. The charge to cover copying costs given above does not include a charge for the copying of these portions of the report because these portions are furnished without charge.

You also have the legally protected right to examine the annual report at the main office of the Plan at 14140 Midway Road, Suite 105, Dallas, Texas, and at the U.S. Department of Labor in Washington, D.C. or to obtain a copy from the U.S. Department of Labor upon payment of copying costs. Requests to the Department should be addressed to: Public Disclosure Room, NI513, Pension and Welfare Benefit Programs, Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20210.

The administration and interpretation of the Pension Fund's rules is solely the right and responsibility of the Board of Trustees of the Pension Fund. Only the Board of Trustees can give you an official, authoritative answer to any question about the Pension Fund or its rules. You may contact the Board of Trustees at the Laborers National Pension Fund office, PO. Box 803415, Dallas, Texas 75380-3415, (972) 233-4458, facsimile (972) 233-3026. In addition to questions, requests for pension applications or other documents, completed pension applications must also be submitted directly to the Pension Fund office. The office staff will be pleased to assist you.

Giving your pension application to anyone other than the Pension Fund office may delay the date on which benefits are first payable to you. Asking questions about the Pension Fund or its rules of anyone other than the Pension Fund office may result in wrong answers for which the Pension Fund is not responsible.

Please remember, you must notify us directly of any change of address. We must be informed every time you move. When you move, please send us your name, Social Security number, and complete address with the city, state, and zip code. Please include your telephone number, and mail this information to the address shown above. Do not rely on the Local, or anyone but you, to furnish us with your address. If we do not have your current address, you will not receive Summary Annual Reports, booklets, notices, or any information regarding rule changes which could affect your retirement, whether you retire now, or at a later date.

As of December 31, 2006 the Pension Fund covered employees represented by the following Building and Construction Locals of the Laborers' International Union. Many Locals have merged.

As of December 31, 2006, the Pension Fund covered employees represented by the following 24 states performing Pipe Line Work under the Agreement with the Mainline Pipe Line Contractors Association and the Distribution Contractors Association: Alabama, Arizona, Arkansas, California, Colorado, Florida, Georgia, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Nebraska, New Mexico, New York, North Carolina, North Dakota, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Virginia and Wyoming.

In addition, this Fund covers all employees working under the Underground Development Agreement in the Western half of the United States.