ANNUALIZED RETURNS

 [THE FOLLOWING TABLE WAS REPRESENTED AS A BAR CHART IN THE PRINTED MATERIAL.]

Returns - Periods Ended December 31, 2008

                                  1 Year      3 Year       5 Year     10 Year
HIT Net                            5.25%       5.53%        4.68%       5.82%
Barclays Capital                   5.24%       5.51%        4.65%       5.63%

The performance data provided represents past performance. Past performance is
no guarantee of future results. Economic and market conditions change, and both
will cause investment return, principal value and yield to fluctuate so that a
Participant's units when redeemed may be worth more or less than their original
cost. Current performance may be lower or higher than the performance data
quoted.

Returns shown reflect the net return of an investment for the specified periods
(after the deduction of the HIT's expenses). The HIT is internally managed and
participants pay only for the actual administrative expenses of operating the
HIT. The Barclays Capital Aggregate Bond Index reflects no deductions for
expenses and is not available for direct investment.

Investors should consider the HIT's investment objectives, risks and expenses
carefully before investing. A Prospectus containing more complete information
may be obtained from the HIT by calling the Marketing Department at
202-331-8055, or by viewing the above-referenced link. The prospectus should be
reviewed carefully before investing.



VALUE GROWTH OF $50,000 INVESTED

 [THE FOLLOWING TABLE WAS REPRESENTED AS A LINE CHART IN THE PRINTED MATERIAL.]

Value Growth of $50,000 Invested

                             Barclays Capital       HIT net
               Dec-98              50,000            50,000
               Dec-99              49,589            49,717
               Dec-00              55,354            55,836
               Dec-01              60,029            60,417
               Dec-02              66,185            67,448
               Dec-03              68,901            69,999
               Dec-04              71,890            72,940
               Dec-05              73,637            74,869
               Dec-06              76,828            78,353
               Dec-07              82,180            83,605
               Dec-08              86,486            87,995

This chart shows the competitive value growth of $50,000 invested in the Trust
(minimum initial investment) and its benchmark (theoretical values) over the
course of ten years, assuming the reinvestment of all distributions.

The performance data provided represents past performance. Past performance is
no guarantee of future results. Economic and market conditions change, and both
will cause investment return, principal value and yield to fluctuate so that a
participant's units when redeemed may be worth more or less than their original
cost. Current performance may be lower or higher than the performance data
quoted.



NET ASSET GROWTH

         [THE FOLLOWING TABLE WAS REPRESENTED AS A MOUNTAIN CHART IN THE
                               PRINTED MATERIAL.]

Net Asset Growth - December 31,1998 to December 31, 2008

 Dec-98            2.02
 Dec-99            2.15
 Dec-00            2.48
 Dec-01            2.75
 Dec-02            3.28
 Dec-03            3.61
 Dec-04            3.67
 Dec-05            3.58
 Dec-06            3.61
 Dec-07            3.72
 Dec-08            3.47

o     The graph above depicts the growth of Trust assets. Asset growth of the
      Trust has several components, including portfolio performance (primarily
      interest income on investments less the expenses of the Trust), capital
      gains and losses, and inflows of new capital less redemptions.

o     Average net assets increased by approximately 7.2% annually for the period
      December 31, 1998 to December 31, 2008.

o     The Trust's income less operating expenses is distributed monthly to
      Participants. Participants choose to automatically reinvest approximately
      88% of distributions.

The performance data provided represents past performance. Past performance is
no guarantee of future results. Economic and market conditions change, and both
will cause investment return, principal value and yield to fluctuate so that a
participant's units when redeemed may be worth more or less than their original
cost. Current performance may be lower or higher than the performance data
quoted.



PORTFOLIO ALLOCATION

  [THE FOLLOWING TABLE WAS REPRESENTED AS A PIE CHART IN THE PRINTED MATERIAL.]

HIT Portfolio Allocation * - December 31, 2008

Construction and Permanent Mortgages                              0.58%
Multifamily Construction Mortgage-Backed Securities               1.70%
Multifamily Permanent Mortgage-Backed Securities                 54.02%
Commercial MBS                                                    2.82%
Government Sponsored Enterprise Securities                        0.77%
Single Family Mortgage-Backed Securities                         32.79%
State Housing Finance Agency Securities                           1.55%
US Treasury Securities                                            3.17%
Cash and Cash Equivalents                                         2.60%
                                                               -------
                                                                100.00%

*     Includes funded and unfunded commitments

o     Chart based on value of total investments and includes unfunded
      commitments.

o     Multifamily Construction Mortgage-Backed Securities: The Trust invests in
      fixed-income securities that finance the construction of multifamily
      properties. These securities generally have credit enhancements from FHA,
      Ginnie Mae (GNMA), or a letter of credit or repurchase guarantee from an
      entity rated "A" or better by Standard and Poor's. These securities
      generally fund over 12-24 months and upon completion of construction, a
      permanent security is issued. These securities typically generate yields
      above U.S. Treasury investments with comparable average lives and
      generally have significant prepayment protections.

o     Multifamily Permanent Mortgage-Backed Securities: The Trust invests in
      securities that are either backed by permanent loans for multifamily
      properties or by loans for existing single family homes. These FHA, GNMA,
      Fannie Mae, or Freddie Mac credit enhanced investments typically generate
      yield spreads above U.S. Treasury investments with



      comparable average lives. Additionally, multifamily mortgage-backed
      securities generally have significant prepayment protections.

o     State Housing Finance Agency Securities: The Trust invests in securities
      that are guaranteed or insured by a state or local housing finance agency
      ("A" rated or better or top tier by Standard and Poor's) and are backed by
      both construction and permanent loans for multifamily properties.

o     Single Family Mortgage-Backed Securities: The Trust invests in securities
      that pool individual mortgages from single family homes. The interest and
      principal cash flows are passed through to the investor of the MBS net of
      any servicing fees. These Fannie Mae, GNMA, or Freddie Mac credit enhanced
      investments typically generate yield spreads above U.S. Treasury bonds.
      There is no prepayment protection on these securities meaning payments
      could be more than the scheduled amount.

o     Construction and Permanent Mortgages: The Trust invests in loans used to
      finance the purchase, refinance or construction of a property.