<PAGE>
COMPANY DATA:
COMPANY CONFORMED NAME: WESLEY JESSEN VISIONCARE, INC.
CENTRAL INDEX KEY: [______________________________________]
STANDARD INDUSTRIAL CLASSIFICATION OPHTHALMIC GOODS [3851]
IRS NUMBER: 36-4023739
STATE OF INCORPORATION: DELAWARE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 11-K
SEC ACT: 1933 Act
SEC FILE NUMBER: ________________________________________
FILM NUMBER: ________________________________________
BUSINESS ADDRESS:
STREET 1: 333 EAST HOWARD AVENUE
STREET 2:
CITY: DES PLAINES
STATE: ILLINOIS
ZIP: 60018-5903
BUSINESS PHONE: 847 294-3000
MAIL ADDRESS:
STREET 1: 333 EAST HOWARD AVENUE
STREET 2:
CITY: DES PLAINES
STATE: ILLINOIS
ZIP: 60018-5903
As filed with the Securities and Exchange Commission on __________, 1998
Registration No. 333-_____
----------------------------------
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------------------
FORM 11-K
FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS AND SIMILAR
PLANS PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
(X) ANNUAL REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the plan year ended December 31, 1997
or
( ) TRANSITION REPORT PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________ to __________
Commission File Number:
Full title of the plan and the address of the plan,
if different from that of the issuer named below:
Wesley Jessen Puerto Rico Savings Plan
333 East Howard Avenue
Des Plaines, Illinois 60018-5903
Name of issuer of the securities held pursuant to the plan and
the address of its principal executive office:
Wesley Jessen VisionCare, Inc.
333 East Howard Avenue
Des Plaines, Illinois 60018-5903
--------------------------------
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, Wesley
Jessen Corporation as Plan Administrator with respect to the Wesley Jessen
Puerto Rico Savings Plan, has duly caused this Annual Report to be signed on its
behalf by the undersigned hereunto duly authorized.
WESLEY JESSEN CORPORATION
Date: August 4, 1998 by: /s/ Michael R. Southard
...................................
Michael R. Southard, Vice President,
Human Resources
<PAGE>
WESLEY JESSEN
PUERTO RICO
SAVINGS PLAN
Financial Statements and
Additional Information
December 31, 1997 and 1996
<PAGE>
WESLEY JESSEN PUERTO RICO SAVINGS PLAN
Table of Contents to Financial Statements and Additional Information
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
PAGE
<S> <C>
Financial Statements:
Report of Independent Accountants............................. 1
Statements of Assets Available for Benefits,
with Fund Information........................................ 2-3
Statements of Changes in Assets Available for
Benefits, with Fund Information.............................. 4-5
Notes to Financial Statements................................. 6-9
Additional Information:*
Schedule I - Schedule of Assets Held for Investment Purposes.... 10
Schedule II - Schedule of Reportable Transactions............... 11
</TABLE>
* Other schedules required by Section 2520.103-10 of the Department of Labor
Rules and Regulations for Reporting and Disclosure under ERISA have been
omitted because they are not applicable.
<PAGE>
[Letterhead of PricewaterhouseCoopers]
Report of Independent Accountants
April 24, 1998
To the Participants and Administrator of
Wesley Jessen Puerto Rico Savings Plan
In our opinion, the accompanying statements of assets available for benefits and
the related statements of changes in assets available for benefits present
fairly, in all material respects, the assets available for benefits of the
Wesley Jessen Puerto Rico Savings Plan (the "Plan") at December 31, 1997 and
1996, and the changes in assets available for benefits for the years then ended,
in conformity with generally accepted accounting principles. These financial
statements are the responsibility of the Plan's management; our responsibility
is to express an opinion on these financial statements based on our audits. We
conducted our audits of these statements in accordance with generally accepted
auditing standards which require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements, assessing the
accounting principles used and significant estimates made by management, and
evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for the opinion expressed above.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The additional information included in
Schedules I and II is presented for purposes of additional analysis and is not a
required part of the basic financial statements but is additional information
required by ERISA. The Fund Information in the statements of assets available
for benefits and the statements of change in assets available for benefits is
presented for purposes of additional analysis rather than to present the assets
available for plan benefits and changes in assets available for benefits of each
fund. Schedules I and II and the Fund Information have been subjected to the
auditing procedures applied in the audits of the basic financial statements and,
in our opinion, are fairly stated in all material respects in relation to the
basic financial statements taken as a whole.
/s/ PricewaterhouseCoopers LLP
CERTIFIED PUBLIC ACCOUNTANTS
(OF PUERTO RICO)
License No. 216 Expires Dec. 1, 1998
Stamp 149211 of the P.R. Society of
Certified Public Accountants has been
affixed to the file copy of this report
1
<PAGE>
WESLEY JESSEN PUERTO RICO SAVINGS PLAN
Statement of Assets Available for Benefits, with Fund Information
December 31, 1997
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
FUND INFORMATION
---------------------------------------------------------------------------------
Vanguard Vanguard
Vanguard Vanguard Vanguard Short-term Index 500
Wellington Windsor Explorer Corporate Portfolio
Fund Fund Fund Bond Fund Fund
<S> <C> <C> <C> <C> <C>
Assets:
Investments, at fair value:
Shares of registered
Investments companies $47,156 $338,728 $17,426 $158,438 $711,739
Shares of Wesley-Jessen
VisionCare, Inc.'s common stock
Participant loans other than mortgages
------- -------- ------- -------- --------
47,156 338,728 17,426 158,438 711,739
------- -------- ------- -------- --------
Receivables:
Participants' contributions 2,393 8,540 653 4,541 11,473
Employer's contributions 34,447 45,139 14,274 10,647 106,967
Other 170 2,887 103 1,366 4,089
------- -------- ------- -------- --------
37,010 56,566 15,030 16,554 122,529
------- -------- ------- -------- --------
Assets available for benefits $84,166 $395,294 $32,456 $174,992 $834,268
======= ======= ======= ======= =======
</TABLE>
<TABLE>
<CAPTION>
FUND INFORMATION
---------------------------------------------------------
Vanguard Vanguard Wesley
Treasury International Jessen Participant
Money Market Growth Stock Loans Plan
Portfolio Fund Portfolio Fund Fund Fund Total
<S> <C> <C> <C> <C> <C>
Assets:
Investments, at fair value:
Shares of registered
investments companies $329,035 $ 8,759 $1,611,281
Shares of Wesley-Jessen
VisionCare, Inc.'s common stock $ 6,967 6,967
Participant loans other than mortgages $166,929 166,929
-------- ------- ------- -------- ----------
329,035 8,759 6,967 166,929 1,785,177
-------- ------- ------- -------- ----------
Receivables:
Participants' contributions 8,411 969 947 37,927
Employer's contributions 56,571 9,485 63,708 341,238
Other 2,810 107 85 11,617
-------- ------- ------- -------- ----------
67,792 10,561 64,740 390,782
-------- ------- ------- -------- ----------
Assets available for benefits $396,827 $19,320 $71,707 $166,929 $2,175,959
======== ======= ======= ======== ==========
</TABLE>
The accompanying notes are an integral part of these financial statements.
2
<PAGE>
WESLEY JESSEN PUERTO RICO SAVINGS PLAN
Statements of Assets Available for Benefits, with Fund Information
December 31, 1996
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FUND INFORMATION
---------------------------------------------------------------------------------------------
Vanguard Vanguard Vanguard Vanguard
Vanguard Vanguard Vanguard Short-term Index 500 Treasury International Participant
Wellington Windsor Explorer Corporate Portfolio Money Market Growth Loans Plan
Fund Fund Fund Bond Fund Fund Portfolio Fund Portfolio Fund Fund Total
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Assets:
Investments, at fair value:
Shares of registered
investments companies $17,878 $209,595 $2,836 $128,978 $471,964 $297,792 $1,948 $1,130,991
Participant loans other
than mortgages $102,067 102,067
------- -------- ------ -------- -------- -------- ------ -------- ----------
17,878 209,595 2,836 128,978 471,964 297,792 1,948 102,067 1,233,058
------- -------- ------ -------- -------- -------- ------ -------- ----------
Receivables:
Participants' contributions 1,121 4,522 192 2,710 6,693 6,075 173 21,486
Employer's contributions 648 2,657 120 1,639 3,964 3,600 95 12,723
Other 4 725 335 757 477 15 2,313
------- -------- ------ -------- -------- -------- ------ -------- ----------
1,773 7,904 312 4,684 11,414 10,152 283 36,522
------- -------- ------ -------- -------- -------- ------ -------- ----------
Assets available
for benefits $19,651 $217,499 $3,148 $133,662 $483,378 $307,944 $2,231 $102,067 $1,269,580
======= ======== ====== ======== ======== ======== ====== ======== ==========
</TABLE>
The accompanying notes are an integral part of these financial statements.
3
<PAGE>
WESLEY JESSEN PUERTO RICO SAVINGS PLAN
Statement of Changes in Assets Available for Benefits, with Fund Information
For the Year Ended December 31, 1997
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------
FUND INFORMATION
---------------------------------------------------------------------------------
Vanguard
Treasury
Vanguard Vanguard Money
Vanguard Vanguard Vanguard Short-term Index 500 Market
Wellington Windsor Explorer Corporate Portfolio Portfolio
Fund Fund Fund Bond Fund Fund Fund
<S> <C> <C> <C> <C> <C> <C>
Additions to assets attributed to:
Investment income:
Interest and dividends $ 3,884 $ 53,397 $ 1,723 $ 8,558 $ 14,542 $ 15,705
Net appreciation (depreciation)
in fair value of investments 4,755 (1,810) (435) 850 150,416
------- -------- ------- -------- -------- --------
8,639 51,587 1,288 9,408 164,958 15,705
------- -------- ------- -------- -------- --------
Contributions:
Participants 18,271 66,796 4,139 31,879 88,208 65,544
Employer 41,456 73,656 15,693 24,943 143,480 84,377
------- -------- ------- -------- -------- --------
59,727 140,452 19,832 56,822 231,688 149,921
------- -------- ------- -------- -------- --------
Total additions 68,366 192,039 21,120 66,230 396,646 165,626
------- -------- ------- -------- -------- --------
Deductions from assets attributable to:
Participants benefits (1,063) (37,061) (8,398) (20,194) (24,479)
------- -------- ------- -------- -------- --------
Net increase prior to transfers 67,303 154,978 21,120 57,832 376,452 141,147
Net interfund transfers (13,495) 20,751 7,937 (4,174) (25,075) (52,264)
Rollovers and other 10,707 2,066 251 (12,328) (487)
------- -------- ------- -------- -------- --------
Net increase 64,515 177,795 29,308 41,330 350,890 88,883
Assets available for benefits
at beginning of year 19,651 217,499 3,148 133,662 483,378 307,944
------- -------- ------- -------- -------- --------
Assets available for benefits
at end of year $84,166 $395,294 $32,456 $174,992 $834,268 $396,827
------- -------- ------- -------- -------- --------
</TABLE>
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------
FUND INFORMATION
--------------------------------------------
Vanguard
International Wesley-
Growth Jessen Participant
Portfolio Stock Loans Plan
Fund Fund Fund Total
<S> <C> <C> <C> <C>
Additions to assets attributed to:
Investment income:
Interest and dividends $ 373 $ 10,405 $ 108,587
Net appreciation (depreciation)
in fair value of investments (645) 2,098 155,229
------- ------- -------- ----------
(272) 2,098 10,405 263,816
------- ------- -------- ----------
Contributions:
Participants 5,531 3,273 283,641
Employer 11,689 64,744 460,038
------- ------- -------- ----------
17,220 68,017 743,679
------- ------- -------- ----------
Total additions 16,948 70,115 10,405 1,007,495
------- ------- -------- ----------
Deductions from assets attributable to:
Participants benefits (10,379) (101,574)
------- ------- -------- ----------
Net increase prior to transfers 16,948 70,115 26 905,921
Net interfund transfers (108) 1,592 64,836
Rollovers and other 249 458
------- ------- -------- ----------
Net increase 17,089 71,707 64,862 906,379
Assets available for benefits
at beginning of year 2,231 102,067 1,269,580
------- ------- -------- ----------
Assets available for benefits
at end of year $19,320 $71,707 $166,929 $2,175,959
------- ------- -------- ----------
</TABLE>
The accompanying notes are an integral part of these financial statements.
4
<PAGE>
WESLEY JESSEN PUERTO RICO SAVINGS PLAN
Statement of Changes in Assets Available for Benefits, with Fund Information
Year Ended December 31, 1996
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
FUND INFORMATION
------------------------------------------------------------------------------------------
Vanguard Vanguard Vanguard Vanguard
Vanguard Vanguard Vanguard Short-term Index 500 Treasury International Participant
Wellington Windsor Explorer Corporate Portfolio Money Market Growth Loans Plan
Fund Fund Fund Bond Fund Fund Portfolio Fund Portfolio Fund Fund Total
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Additions to assets
attributed to:
Investment income:
Interest and dividends $ 1,046 $ 19,047 $ 152 $ 6,118 $ 9,586 $ 12,603 $ 70 $ 6,840 $ 55,462
Net appreciation
(depreciation)
in fair value of investments 371 17,298 (83) (876) 69,750 66 86,526
------- -------- ------ -------- -------- -------- ------ -------- ----------
1,417 36,345 69 5,242 79,336 12,603 136 6,840 141,988
------- -------- ------ -------- -------- -------- ------ -------- ----------
Contributions:
Participants 10,208 58,709 1,501 36,929 81,900 74,349 1,725 265,321
Employer 4,130 25,798 699 16,765 35,465 32,721 759 116,337
------- -------- ------ -------- -------- -------- ------ -------- ----------
14,338 84,507 2,200 53,694 117,365 107,070 2,484 381,658
------- -------- ------ -------- -------- -------- ------ -------- ----------
Total additions 15,755 120,852 2,269 58,936 196,701 119,673 2,620 6,840 523,646
------- -------- ------ -------- -------- -------- ------ -------- ----------
Deductions from assets
attributable to:
Participants benefits (622) (13,637) (4,371) (23,619) (31,362) (398) (2,472) (76,481)
------- -------- ------ -------- -------- -------- ------ -------- ----------
Net increase prior to transfers 15,133 107,215 2,269 54,565 173,082 88,311 2,222 4,368 447,165
Net interfund transfers 4,518 (2,948) 879 (3,277) (29,429) (19,793) (121) 50,171
Rollovers and other 2,320 8,942 2,864 22 14,148
------- -------- ------ -------- -------- -------- ------ -------- ----------
Net increase 19,651 106,587 3,148 51,288 152,595 71,382 2,101 54,561 461,313
Assets available for benefits
at beginning of year 110,912 82,374 330,783 236,562 130 47,506 808,267
------- -------- ------ -------- -------- -------- ------ -------- ----------
Assets available for benefits
at end of year $19,651 $217,499 $3,148 $133,662 $483,378 $307,944 $2,231 $102,067 $1,269,580
======= ======== ====== ======== ======== ======== ====== ======== ==========
</TABLE>
The accompanying notes are an integral part of these financial statements.
5
<PAGE>
WESLEY JESSEN PUERTO RICO SAVINGS PLAN
Notes to Financial Statements
December 31, 1997 and 1996
- --------------------------------------------------------------------------------
1. Description of Plan
The following description of the Wesley Jessen Puerto Rico Savings Plan
(the "Plan") provides only general information. Participants should refer
to the Plan agreement for a more complete description of the Plan's
provisions.
General
The Plan became effective July 1, 1995 as a defined contribution plan
covering all full-time employees of Wesley-Jessen (Puerto Rico), Inc. (the
"Company"). It is subject to the provisions of the Employee Retirement
Income Security Act of 1974 ("ERISA").
Contributions
Participants may contribute up to 10 percent of their pretax annual base
compensation, to a maximum of $7,500. The Company contributes 50 percent of
the first 6 percent that a participant contributes to the Plan. Additional
amounts may be contributed at the option of the Company's board of
directors. During the year ended December 31, 1997 approximately $330,000
of additional contributions were made.
Participant Accounts
Each participant's account is credited with the participant's contribution
and allocation of (a) the Company's contribution and (b) Plan earnings.
Allocations are based on participant earnings or account balances, as
defined. The benefit to which a participant is entitled is the benefit that
can be provided from the participant's account.
Vesting
Participants are immediately vested in their contributions plus actual
earnings thereon. Vesting in the remainder of their account is based on
years of continuous service. A participant is 100 percent vested after four
years of credited service. Former employees of Schering-Plough Products,
Inc. are vested 100 percent after three years of credited service.
Forfeitures are used to reduce Company's contributions.
Investment Options
Upon enrollment in the Plan, a participant may direct contributions in any
of the following eight investments options:
. Vanguard Wellington Fund - Seeks to provide income and long-term
growth of capital, without undue risk to capital, by investing
about 65% of its assets in stocks and the remaining 35% in bonds.
. Vanguard Windsor Fund - Seeks to provide long-term growth of
capital and income by investing in stocks believed to be
undervalued by the market. It focuses on stocks selling at prices
that seem low in relation on such factors as past earnings,
potential growth, and dividend payments.
6
<PAGE>
WESLEY JESSEN PUERTO RICO SAVINGS PLAN
Notes to Financial Statements
December 31, 1997 and 1996
- -------------------------------------------------------------------------------
. Vanguard Explorer Fund - Seeks to provide long-term growth of
capital by investing in a diversified group small-company stock
with prospects for above-average growth.
. Vanguard Short-Term Corporate Bond Fund - Seeks to provide income
while maintaining a high degree of stability of principal by
investing in short-term bonds, including high-quality corporate and
U.S. Treasury securities.
. Vanguard Index 500 Portfolio Fund - Seeks to provide long-term
growth of capital and income from dividends by holding all of the
500 stocks that make up the unmanaged Standard & Poor's 500
Composite Stock Price Index, a widely recognized benchmark of U.S.
stock market performance.
. Vanguard Treasury Money Market Portfolio Fund - Seeks to provide
high income and a stable share price of $1 by investing in short-
term securities that are backed by the full faith and credit of the
U.S. government. At least 65% of the Portfolio's assets are
invested in U.S. Treasury securities.
. Vanguard International Growth Portfolio Fund - Seeks to provide
long-term growth of capital by investing in stocks of high-quality,
seasoned companies based outside the United States. Stocks are
selected from more than 15 countries.
. Wesley-Jessen Stock Fund - Funds are invested in shares of common
stock of Wesley-Jessen VisionCare, Inc. and seeks to provide the
potential for long-term growth through increases in the value of
the stock and reinvestment of its dividends.
Participants may change their investment options quarterly.
Participant Loans
Participants may borrow from their fund accounts a maximum amount equal to
the lesser of $50,000 or 50 percent of their account vested balance. Loan
transactions are treated as a transfer to (from) the investment funds from
(to) the Participant Loans Fund. Loan terms are for a period not exceeding
5 years. Loans used to acquire a principal residence shall provide for
repayment over a reasonable period of time that may exceed 5 years.
The loans are secured by the vested balance in the participant's account
and bear interest at a rate determined by the Plan administrator at the
time of the loan. Interest rates range from 8 percent to 10 percent.
Principal and interest is paid ratably through payroll deductions.
Payment of Benefits
On termination of service due to death, disability or retirement, a
participant may elect to receive either a lump-sum amount equal to the
value of the participant's vested interest in his or her account, or
installments not exceeding the life expectancy of the participant or
beneficiary. For termination of service due to other reasons, a participant
may receive the value of the vested interest in his or her account as a
lump-sum distribution.
7
<PAGE>
WESLEY JESSEN PUERTO RICO SAVINGS PLAN
Notes to Financial Statements
December 31, 1997 and 1996
- -------------------------------------------------------------------------------
Forfeited Accounts
At December 31, 1997, forfeited nonvested accounts amounted to
approximately $3,000.
Administrative Expenses
Certain expenses relating to the Plan, including administrative fees, are
paid by the Company.
2. Summary of Significant Accounting Policies
Basis of Accounting
The Plan's financial statements are prepared on the accrual basis of
accounting.
Use of Estimates
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosures of contingent assets and liabilities at the date of the
financial statements and the reported amounts of revenues and expenses
during the reporting period. Actual results could differ from those
estimates.
The following are the most significant accounting policies followed by the
Plan.
Investment Valuation and Income Recognition
Plan investments are stated at fair value. Shares of registered investment
companies are valued at the quoted net asset value (redemption value) of
the respective investment company determined by Vanguard Fiduciary Trust
Company. The Company stock fund is valued at its year-end unit closing
price (composed of year-end market price plus uninvested cash position).
Participant loans are valued at cost which approximates fair value.
Purchases and sales of investments are recorded on a trade-date basis.
Interest income is accrued when earned. Dividend income is recorded on the
ex-dividend date. Capital gain distributions are included in dividend
income.
Contributions
Employee contributions are recorded in the period during which the Company
makes payroll deductions from the Plan participants' earnings. Matching
Company contributions are recorded in the same period.
Benefits
Benefits are recorded when paid.
8
<PAGE>
WESLEY JESSEN PUERTO RICO SAVINGS PLAN
Notes to Financial Statements
December 31, 1997 and 1996
- -------------------------------------------------------------------------------
3. Investments
Investments that represent 5% or more of the Plan's assets are summarized
as follows:
<TABLE>
<CAPTION>
1997 1996
<S> <C> <C>
Investments at fair value determined by quoted market prices:
Shares of registered investment companies:
Vanguard Windsor Fund - 19,949 shares
(1996 - 12,663 shares) $ 338,728 $ 209,595
Vanguard Short-term Corporate Bond
Fund - 14,657 shares
(1996 - 11,997 shares) 158,438 128,978
Vanguard Index 500 Portfolio Fund -
7,902 shares (1996 - 6,824 shares) 711,739 471,964
Vanguard Treasury Money Market
Portfolio Fund - 329,035 shares
(1996 - 297,792) 329,035 297,792
Investment at estimated fair value:
Participant loans other than mortgages 166,929 102,067
---------- ----------
$1,704,869 $1,210,396
========== ==========
</TABLE>
4. Related Parties
The Plan invests in shares of mutual funds managed by an affiliate of
Vanguard Fiduciary Trust Company ("VFTC"). VFTC acts as trustee for only
those investments as defined by the Plan. Transactions in such investments
qualify as party-in-interest transactions which are exempt from the
prohibited transaction rules.
5. Plan Termination
Although it has not expressed any intent to do so, the Company has the
right under the Plan to discontinue its contributions at any time and to
terminate the Plan subject to the provisions of ERISA. In the event of Plan
termination, participants will become 100 percent vested in their accounts.
6. Tax Status
The Puerto Rico Treasury Department has determined and informed the Company
by a letter dated March 9, 1998, that the Plan and related trust are
designed in accordance with applicable sections of the Puerto Rico Internal
Revenue Code.
9
<PAGE>
ADDITIONAL INFORMATION
SCHEDULE I
WESLEY JESSEN
PUERTO RICO SAVINGS PLAN
Item 27a Part I Form 5500 Schedule of Assets
Held for Investment Purposes
December 31, 1997
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------
(c) Description of investment
including maturity date, rate of
(a) (b) Identity of issue, borrower, interest, collateral, par or
lessor, or similar party maturity value (d) Cost (e) Current value
<S> <C> <C> <C> <C>
Shares of Registered
* Vanguard Fiduciary Trust Company: Investment Companies:
Vanguard Wellington Fund 1,601 shares $ 44,429 $ 47,156
Vanguard Windsor Fund 19,949 shares 341,258 338,728
Vanguard Explorer Fund 315 shares 17,754 17,426
Vanguard Short-term Corporate Bond Fund 14,657 shares 157,445 158,438
Vanguard Index 500 Portfolio Fund 7,902 shares 496,639 711,739
Vanguard Treasury Money Market
Portfolio Fund 329,035 shares 329,035 329,035
Vanguard International Growth
Portfolio Fund 534 shares 9,412 8,759
Wesley-Jessen Stock Fund Shares of common stock, 252 shares 4,874 6,967
---------- ----------
1,400,846 1,618,248
---------- ----------
** Participant loans Loans other than mortgages,
8.25% - 10% - 166,929
---------- ----------
$1,400,846 $1,785,177
---------- ----------
</TABLE>
* Recordkeeper
** Party-in-interest
10
<PAGE>
ADDITIONAL INFORMATION
SCHEDULE II
WESLEY JESSEN
PUERTO RICO SAVINGS PLAN
Item 27d Form 5500 Schedule of Reportable Transactions
Cumulative Transactions By Issue
For the Year Ended December 31, 1997
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------
Sales Purchases
------------------------------------ ---------------------
Security Description Number Proceeds Gain or (Loss) Number Cost
<S> <C> <C> <C> <C> <C>
Shares of Registered Investment Companies:
Vanguard Windsor Fund 28 $ 82,665 $10,820 42 $211,541
Vanguard Short-term Corporate Bond Fund 31 23,548 16 53 64,485
Vanguard Index 500 Portfolio Fund 32 88,516 21,604 42 178,361
Vanguard Treasury Money Market Portfolio Fund 34 102,695 - 61 133,938
</TABLE>
11
<PAGE>
[Letterhead of PricewaterhouseCoopers LLP]
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in the Registration
Statement on Form S-8 of our report dated April 24, 1998 appearing on page 1 of
Wesley Jessen Puerto Rico Savings Plan's Annual Report on Form 11-K for the year
ended December 31, 1997.
/s/ PricewaterhouseCoopers
PricewaterhouseCoopers
San Juan, Puerto Rico
July 28, 1998
