Speeding Up Store Procedures Using EXEC?

Hello, can anyone offer any advice on this problem related to store procedures.

The following 2 chunks of SQL illustrate the problem

--1
declare @lsFilt varchar(16)
select @lsFilt = 'fil%ter'
select * from sysobjects where name like @lsFilt

--2
declare @lsQuery varchar(128)
select @lsQuery = 'select * from sysobjects where name like ''fil%ter'''
exec (@lsQuery)

When I view the execution plan the cost % breakdown is approx 82%, 18%. The second query does a bookmark lookup and an index seek while the first slow query does a clustered index seek and takes approx 5 times longer to do.


Now my real question is suppose I have an store procedure to run a similar query. Should be writing my SPs along the lines of

create proc SP2Style
@psFilter varchar(16)
AS
declare @lsQuery varchar(128)
select @lsQuery = 'select * from sysobjects where name like ''' @psFilter + ''''
exec (@lsQuery)
GO

instead of

create proc SP1Style
@psFilter varchar(16)
AS
select * from sysobjects where name like @psFilter
GO

Is there another way to write similar store procedures without using dynamic query building or the exec but keep the faster execution speed?

thanks

Paul