SCHEDULE 14A
(RULE 14A-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(A)
Filed by the Registrant / /
Filed by a Party other than the Registrant/X/
Check the appropriate box:
/ / Preliminary Proxy Statement
/ / Confidential, for Use of the Commission Only (as permitted by
Rule 14a-6(e)(2))
/ / Definitive Proxy Statement
/X/ Definitive Additional Materials
/ / Soliciting Material Pursuant to Section 240.14a-11(c) or
Section 240.14a-12
GLOBAL INDUSTRIAL TECHNOLOGIES, INC.
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(Name of Registrant as Specified In Its Charter)
WHX CORPORATION
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(Name of Persons(s) Filing Proxy Statement)
Payment of Filing Fee (Check the appropriate box):
|X| No fee required.
/ / Fee computed on table below per Exchange Act Rules 14a-6(i)(4)
and 0-11.
(1) Title of each class of securities to which transaction
applies:
- --------------------------------------------------------------------------------
(2) Aggregate number of securities to which transaction applies:
- --------------------------------------------------------------------------------
(3) Per unit price or other underlying value of transaction
computed pursuant to Exchange Act Rule 0-11:
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<PAGE>
(4) Proposed maximum aggregate value of transaction:
- --------------------------------------------------------------------------------
(5) Total fee paid:
- --------------------------------------------------------------------------------
/ / Fee paid previously with preliminary materials:
- --------------------------------------------------------------------------------
/ / Check box if any part of the fee is offset as provided by Exchange
Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was
paid previously. Identify the previous filing by registration statement number,
or the form or schedule and the date of its filing.
(1) Amount Previously Paid:
- --------------------------------------------------------------------------------
(2) Form, Schedule or Registration Statement No.:
- --------------------------------------------------------------------------------
(3) Filing Party:
- --------------------------------------------------------------------------------
(4) Date Filed:
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-2-
<PAGE>
February 27, 1999
Dear Fellow Stockholder:
On December 17, 1998, WHX commenced an Offer to purchase any and all shares of
Global Industrial Technologies at $10.50 cash per share. This represents a
premium of approximately 25% over the closing price of GIX shares the day before
WHX announced its Offer1, and more than 42% over the $7.38 closing price on
October 2, 1998, the day prior to WHX's first disclosure of its investment in
GIX.
Despite this substantial premium, GIX has refused to meet with WHX to discuss
the Offer. Instead, it has adopted lucrative "golden parachute" severance
agreements for its senior executives, and awarded them hundreds of thousands of
new options under its stock option plan. To add insult to injury, GIX amended
its poison pill shareholder rights plan to prevent WHX from acquiring additional
shares while offering no viable alternative to maximize shareholder value.
THE TIME TO ACT IS NOW!
WE BELIEVE GIX'S BOARD AND MANAGEMENT HAVE ACTED TO PRESERVE THEIR OWN
INTERESTS. NOW IT IS TIME FOR YOU TO ACT TO PROTECT YOUR OWN SELF-INTEREST. WE
URGE YOU TO SIGN, DATE AND RETURN THE ENCLOSED BLUE PROXY CARD TODAY. By voting
FOR the WHX nominee and the proposals to declassify the Board and redeem the
poison pill, you can send a strong message to GIX that you purchased your shares
with the expectation that you would profit on your investment--and will not
stand idly by while management, in our view, continues to entrench itself at
stockholder expense.
Although GIX has tried to prevent its stockholders from participating in the
Offer, with its poison pill, and has as yet failed to set a date for its Annual
Meeting, GIX CANNOT KEEP YOU FROM VOTING. Sooner or later, GIX must set a Record
and Meeting Date. Sooner or later, the voice of the true owners of the Company
will be heard. REMEMBER, YOUR VOTE WILL COUNT AS LONG AS YOU REMAIN AN OWNER OF
THE SHARES AS OF THE ANNUAL MEETING RECORD DATE.
THE TIME FOR EXCUSES IS OVER!
In rejecting WHX's offer, the GIX Board offered excuse after excuse for the
company's poor past performance. Although GIX's peer group2 has lagged behind
the S&P 500 over the past several years, it has consistently outperformed GIX.
YOU SHOULD KNOW THAT $100 INVESTED IN GIX'S PEER GROUP ON DECEMBER
- ---------------------------
(1) GIX's reported closing sales price on the NYSE Composite Tape was $8.38 on
the last trading day prior to WHX's announcement of the Offer.
(2) Includes the peer group as shown in GIX's Proxy Statement of February 3,
1998, with the exception of A.P. Green Industries, Inc., which was acquired by
GIX on July 1, 1998. The peer group includes Minerals Technologies Inc.,
Ingersoll-Rand Company, Cooper Industries, Inc. Oglebay Norton Company, and
Harnischfegger Industries, Inc. through August 31, 1997, when GIX divested its
surface mining equipment operations. As disclosed, GIX does not consider
Harnischfegger an appropriate peer group member for subsequent periods.
<PAGE>
31, 1996 IS WORTH $117.52 TODAY, COMPARED WITH ONLY $42.37 FOR GIX. SIMILARLY,
ON DECEMBER 14, 1998, THE LAST TRADING DAY PRIOR TO THE ANNOUNCEMENT OF THE WHX
OFFER, THE PEER GROUP VALUE WAS $119.73, WITH GIX'S VALUE ONLY $37.85. IN OTHER
WORDS, GIX'S END VALUE FOR THAT PERIOD WAS LESS THAN ONE-THIRD THE VALUE OF ITS
PEERS!
<TABLE>
<CAPTION>
HPH
GIX MTX IR CBE OGLE HPH GIX MTX IR CBE OGLE PEER GROUP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
12/31/96 22.125 41 29.67188 42.125 21.875 48.125 12/31/96 100% 100% 100% 100% 100% 100% 100%
01/02/97 21.5 40 29.32813 41.25 21.875 47.875 01/02/97 97% 98% 99% 98% 100% 99% 99%
01/03/97 21.125 40.5 29.17188 41.25 21.75 47.5 01/03/97 95% 99% 98% 98% 99% 99% 99%
01/06/97 19.75 39.875 29.17188 40.75 21.75 46.875 01/06/97 89% 97% 98% 97% 99% 97% 98%
01/07/97 19.75 39.875 29.25 41.5 21.75 47.875 01/07/97 89% 97% 99% 99% 99% 99% 99%
01/08/97 19.75 39.625 29.17188 42 21.75 48 01/08/97 89% 97% 98% 100% 99% 100% 99%
01/09/97 19.625 39.875 30.17188 42 22.125 48 01/09/97 89% 97% 102% 100% 101% 100% 100%
01/10/97 18.5 40.875 30.57813 42.375 22.5 47.375 01/10/97 84% 100% 103% 101% 103% 98% 101%
01/13/97 18.25 39.875 30.82813 41.875 21.875 47.875 01/13/97 82% 97% 104% 99% 100% 99% 100%
01/14/97 18.625 39.5 30.42188 42.75 22.5 47.125 01/14/97 84% 96% 103% 101% 103% 98% 100%
01/15/97 18.5 39.625 29.82813 42.25 21.875 46.25 01/15/97 84% 97% 101% 100% 100% 96% 99%
01/16/97 18.125 40 29.67188 42.375 22.125 45.25 01/16/97 82% 98% 100% 101% 101% 94% 99%
01/17/97 18.375 40.25 29.82813 42.5 22.125 45.375 01/17/97 83% 98% 101% 101% 101% 94% 99%
01/20/97 18.75 42 30 43.375 22.125 46 01/20/97 85% 102% 101% 103% 101% 96% 101%
01/21/97 18 40.625 30 44 22.125 46.25 01/21/97 81% 99% 101% 104% 101% 96% 100%
01/22/97 17.125 39.25 30.07813 44.5 22.125 45.875 01/22/97 77% 96% 101% 106% 101% 95% 100%
01/23/97 17 38.875 29.42188 43.125 22.125 45.625 01/23/97 77% 95% 99% 102% 101% 95% 98%
01/24/97 17.375 39 29.07813 42.625 22.125 44.125 01/24/97 79% 95% 98% 101% 101% 92% 97%
01/27/97 17.375 39 29 42.75 22.375 45 01/27/97 79% 95% 98% 101% 102% 94% 98%
01/28/97 17.625 39.125 28.82813 42.75 22.5 45 01/28/97 80% 95% 97% 101% 103% 94% 98%
01/29/97 18.375 39.5 29.5 42.375 21.5 45 01/29/97 83% 96% 99% 101% 98% 94% 98%
01/30/97 18.125 40.125 30.25 42.875 21.375 44.875 01/30/97 82% 98% 102% 102% 98% 93% 99%
01/31/97 18.25 39.875 30.42188 43.125 21.5 44.375 01/31/97 82% 97% 103% 102% 98% 92% 99%
02/03/97 18.25 39.75 30.07813 42.75 21.5 44.625 02/03/97 82% 97% 101% 101% 98% 93% 98%
02/04/97 18 39.125 30.25 43.5 21.5 45.125 02/04/97 81% 95% 102% 103% 98% 94% 99%
02/05/97 18 37.625 30 44.375 21.125 45.25 02/05/97 81% 92% 101% 105% 97% 94% 98%
02/06/97 18.25 38.625 30.82813 44.625 21.5625 44.625 02/06/97 82% 94% 104% 106% 99% 93% 99%
02/07/97 18.125 38.375 31.57813 44.625 21 44.75 02/07/97 82% 94% 106% 106% 96% 93% 99%
02/10/97 18.75 37.875 32.42188 44.625 21.5 45 02/10/97 85% 92% 109% 106% 98% 94% 100%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
HPH
GIX MTX IR CBE OGLE HPH GIX MTX IR CBE OGLE PEER GROUP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/11/97 17.875 36.875 32.17188 44.875 21 44.5 02/11/97 81% 90% 108% 107% 96% 92% 99%
02/12/97 18.125 37 32.25 45 21.75 43.625 02/12/97 82% 90% 109% 107% 99% 91% 99%
02/13/97 17.875 37.25 32.25 45.25 21.625 44.875 02/13/97 81% 91% 109% 107% 99% 93% 100%
02/14/97 17.625 37.625 32 45.125 21.5 44.5 02/14/97 80% 92% 108% 107% 98% 92% 99%
02/18/97 17.625 38.375 32.32813 44.875 21.75 44.75 02/18/97 80% 94% 109% 107% 99% 93% 100%
02/19/97 17.875 39.25 32.5 45.125 21 44 02/19/97 81% 96% 110% 107% 96% 91% 100%
02/20/97 17.75 39 32 44.625 21.125 43 02/20/97 80% 95% 108% 106% 97% 89% 99%
02/21/97 17.75 38.375 32.57813 44.625 21.5 42.75 02/21/97 80% 94% 110% 106% 98% 89% 99%
02/24/97 17.75 38 32.25 45.125 21.5 43 02/24/97 80% 93% 109% 107% 98% 89% 99%
02/25/97 17.5 38.625 32.42188 45 21.5 42 02/25/97 79% 94% 109% 107% 98% 87% 99%
02/26/97 17 38 32.25 44.625 21.3125 43.75 02/26/97 77% 93% 109% 106% 97% 91% 99%
02/27/97 17.25 38 31.82813 44.625 21.4375 43.625 02/27/97 78% 93% 107% 106% 98% 91% 99%
02/28/97 17.75 37.875 31.67188 44.25 21 43.875 02/28/97 80% 92% 107% 105% 96% 91% 98%
03/03/97 17.375 37.25 31.57813 43.75 21.375 44.125 03/03/97 79% 91% 106% 104% 98% 92% 98%
03/04/97 17 36 31.17188 44.25 20.875 45 03/04/97 77% 88% 105% 105% 95% 94% 97%
03/05/97 17.125 35 31.67188 44.5 21.375 45.375 03/05/97 77% 85% 107% 106% 98% 94% 98%
03/06/97 17 35.25 31.67188 45.5 21.375 46.375 03/06/97 77% 86% 107% 108% 98% 96% 99%
03/07/97 17.25 34.875 31.82813 46.375 20.875 46.875 03/07/97 78% 85% 107% 110% 95% 97% 99%
03/10/97 17.5 35 31.82813 46 20.875 48 03/10/97 79% 85% 107% 109% 95% 100% 99%
03/11/97 17.625 36.25 31.67188 46.125 20.875 48.75 03/11/97 80% 88% 107% 109% 95% 101% 100%
03/12/97 17.75 35.875 31.75 46.625 20.875 48.75 03/12/97 80% 88% 107% 111% 95% 101% 100%
03/13/97 17.5 36.125 31.75 46.375 21.25 47.625 03/13/97 79% 88% 107% 110% 97% 99% 100%
03/14/97 17.75 35.5 32 46.625 20.75 48 03/14/97 80% 87% 108% 111% 95% 100% 100%
03/17/97 18.625 36 31.67188 46.125 21.375 48.375 03/17/97 84% 88% 107% 109% 98% 101% 100%
03/18/97 18.75 35.375 31.57813 45.875 20.75 48.25 03/18/97 85% 86% 106% 109% 95% 100% 99%
03/19/97 18.875 35.375 31.32813 46 20.5 48.5 03/19/97 85% 86% 106% 109% 94% 101% 99%
03/20/97 18.75 35.125 31.32813 45.75 21.25 48.375 03/20/97 85% 86% 106% 109% 97% 101% 100%
03/21/97 18.125 34.875 31.42188 45.5 21.25 48.375 03/21/97 82% 85% 106% 108% 97% 101% 99%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
HPH
GIX MTX IR CBE OGLE HPH GIX MTX IR CBE OGLE PEER GROUP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
03/24/97 18 35.25 31.5 45.125 21.125 48.125 03/24/97 81% 86% 106% 107% 97% 100% 99%
03/25/97 17.5 35.125 30.75 44.375 21.25 48.125 03/25/97 79% 86% 104% 105% 97% 100% 98%
03/26/97 17 35.25 30.17188 43.875 20.8125 48 03/26/97 77% 86% 102% 104% 95% 100% 97%
03/27/97 17.25 34.25 29.67188 43.375 20.5 47.875 03/27/97 78% 84% 100% 103% 94% 99% 96%
03/31/97 17.25 33.25 29 43.375 20.5 46.5 03/31/97 78% 81% 98% 103% 94% 97% 94%
04/01/97 17.5 32.75 28.42188 43.125 20.5 47 04/01/97 79% 80% 96% 102% 94% 98% 94%
04/02/97 17.125 32.75 28.32813 43.375 21.25 46.125 04/02/97 77% 80% 95% 103% 97% 96% 94%
04/03/97 17.125 32.75 28.57813 43 20.5 45.25 04/03/97 77% 80% 96% 102% 94% 94% 93%
04/04/97 17.125 32.125 29.5 42.875 20.5 45.75 04/04/97 77% 78% 99% 102% 94% 95% 94%
04/07/97 17.625 32.75 29.75 43.125 21 46.125 04/07/97 80% 80% 100% 102% 96% 96% 95%
04/08/97 17.5 33 29.5 43.375 20.5 46 04/08/97 79% 80% 99% 103% 94% 96% 94%
04/09/97 17.875 33.125 29.82813 42.875 20.5 45.625 04/09/97 81% 81% 101% 102% 94% 95% 94%
04/10/97 18.125 33.5 29.92188 42.875 21 45 04/10/97 82% 82% 101% 102% 96% 94% 95%
04/11/97 17.75 32.75 29.42188 42 20.875 44 04/11/97 80% 80% 99% 100% 95% 91% 93%
04/14/97 17.375 33.375 29.17188 42.125 21.125 43.875 04/14/97 79% 81% 98% 100% 97% 91% 93%
04/15/97 17.625 33.625 29.42188 42.375 21 43.875 04/15/97 80% 82% 99% 101% 96% 91% 94%
04/16/97 17.5 33.5 30.17188 43.25 20.875 44.75 04/16/97 79% 82% 102% 103% 95% 93% 95%
04/17/97 17.625 33.625 30.82813 43 20.875 44.5 04/17/97 80% 82% 104% 102% 95% 92% 95%
04/18/97 17.875 33.5 30.92188 43 20.875 45.375 04/18/97 81% 82% 104% 102% 95% 94% 96%
04/21/97 18 34.625 30.42188 42.875 20.25 45 04/21/97 81% 84% 103% 102% 93% 94% 95%
04/22/97 18 35 31.42188 43 20.625 44.875 04/22/97 81% 85% 106% 102% 94% 93% 96%
04/23/97 18.125 34.125 31.82813 44.5 20.125 46.125 04/23/97 82% 83% 107% 106% 92% 96% 97%
04/24/97 17.75 34.875 31.67188 44.75 19.75 46.375 04/24/97 80% 85% 107% 106% 90% 96% 97%
04/25/97 17.75 34.875 31.82813 44.75 19.75 45.375 04/25/97 80% 85% 107% 106% 90% 94% 97%
04/28/97 17.625 34.75 31.92188 45 19.625 42.25 04/28/97 80% 85% 108% 107% 90% 88% 95%
04/29/97 18.125 35 32.5 45.5 20 43.5 04/29/97 82% 85% 110% 108% 91% 90% 97%
04/30/97 18.25 35.125 32.75 46 19.625 41.625 04/30/97 82% 86% 110% 109% 90% 86% 96%
05/01/97 17.875 35.5 32.5 46.5 19.625 41.5 05/01/97 81% 87% 110% 110% 90% 86% 96%
05/02/97 17.875 36 33.25 47.125 19.625 42.25 05/02/97 81% 88% 112% 112% 90% 88% 98%
05/05/97 18 36.75 33.92188 47.625 19.6875 43.375 05/05/97 81% 90% 114% 113% 90% 90% 99%
05/06/97 17.875 36.875 34.25 47.625 19.875 42.75 05/06/97 81% 90% 115% 113% 91% 89% 100%
05/07/97 17.75 36.125 33.42188 47.25 19.625 41.875 05/07/97 80% 88% 113% 112% 90% 87% 98%
05/08/97 17.5 35 34.17188 47.875 19.75 40.625 05/08/97 79% 85% 115% 114% 90% 84% 98%
05/09/97 17.125 35.875 34.67188 48.875 20.4375 42.25 05/09/97 77% 88% 117% 116% 93% 88% 100%
05/12/97 17.125 36 34.75 50.625 20.5 43 05/12/97 77% 88% 117% 120% 94% 89% 102%
05/13/97 17.125 35.75 34.67188 50.625 20.75 42.75 05/13/97 77% 87% 117% 120% 95% 89% 102%
05/14/97 17 36.25 34.92188 49.75 21 42.25 05/14/97 77% 88% 118% 118% 96% 88% 102%
05/15/97 17 37.375 34.92188 50.375 20.375 41.875 05/15/97 77% 91% 118% 120% 93% 87% 102%
05/16/97 17.25 37.625 34.32813 49.5 20.375 42.125 05/16/97 78% 92% 116% 118% 93% 88% 101%
05/19/97 17.625 37.75 34.42188 49.625 21 42.75 05/19/97 80% 92% 116% 118% 96% 89% 102%
05/20/97 17.25 38.125 34.32813 49 21 43 05/20/97 78% 93% 116% 116% 96% 89% 102%
05/21/97 17.125 38.875 34.82813 49.75 21 39.625 05/21/97 77% 95% 117% 118% 96% 82% 102%
05/22/97 17.75 39.875 35.17188 50.125 21 40.125 05/22/97 80% 97% 119% 119% 96% 83% 103%
05/23/97 17.875 40.75 35.32813 51.5 21.625 40 05/23/97 81% 99% 119% 122% 99% 83% 105%
05/27/97 17.875 40 35.32813 51.375 22 40.125 05/27/97 81% 98% 119% 122% 101% 83% 105%
05/28/97 18.375 38.875 35.82813 51.875 21.5 39.75 05/28/97 83% 95% 121% 123% 98% 83% 104%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
HPH
GIX MTX IR CBE OGLE HPH GIX MTX IR CBE OGLE PEER GROUP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
05/29/97 18.625 39 36.07813 52 22.125 41 05/29/97 84% 95% 122% 123% 101% 85% 105%
05/30/97 18.5 39.5 36.42188 51 22.375 42.75 05/30/97 84% 96% 123% 121% 102% 89% 106%
06/02/97 18.625 39.25 36.82813 51.75 21.875 43.25 06/02/97 84% 96% 124% 123% 100% 90% 107%
06/03/97 18.875 38.25 36.75 51.625 21.875 43.125 06/03/97 85% 93% 124% 123% 100% 90% 106%
06/04/97 18.875 37.875 36.67188 51.625 21.875 43.25 06/04/97 85% 92% 124% 123% 100% 90% 106%
06/05/97 19.125 38.5 36.92188 51.75 21.875 42.25 06/05/97 86% 94% 124% 123% 100% 88% 106%
06/06/97 19 38.375 37.67188 51.75 21.875 41.25 06/06/97 86% 94% 127% 123% 100% 86% 106%
06/09/97 18.875 38.125 38.07813 51.75 21.8125 41.5 06/09/97 85% 93% 128% 123% 100% 86% 106%
06/10/97 18.75 38.75 38.82813 52.5 22.25 41.125 06/10/97 85% 95% 131% 125% 102% 85% 107%
06/11/97 18.75 38.125 38.75 52.375 22.25 40.75 06/11/97 85% 93% 131% 124% 102% 85% 107%
06/12/97 18.875 38.375 39.82813 53.125 22.25 43 06/12/97 85% 94% 134% 126% 102% 89% 109%
06/13/97 19.375 37.75 40.67188 53.625 21.9375 43.125 06/13/97 88% 92% 137% 127% 100% 90% 109%
06/16/97 19.5 38.25 40.57813 52.75 21.625 43.125 06/16/97 88% 93% 137% 125% 99% 90% 109%
06/17/97 19.5 37.875 40.5 52.25 21.625 43.125 06/17/97 88% 92% 136% 124% 99% 90% 108%
06/18/97 19.25 38.125 40.32813 51.75 21.625 42 06/18/97 87% 93% 136% 123% 99% 87% 108%
06/19/97 19.875 38.125 40.42188 51.5 22.25 42.5 06/19/97 90% 93% 136% 122% 102% 88% 108%
06/20/97 20.125 38 40.32813 51.375 21.625 42 06/20/97 91% 93% 136% 122% 99% 87% 107%
06/23/97 20.25 37.875 40 49.5 22 40.875 06/23/97 92% 92% 135% 118% 101% 85% 106%
06/24/97 20.4375 37.8125 41.375 51.1875 22.1875 40.875 06/24/97 92% 92% 139% 122% 101% 85% 108%
06/25/97 20.0625 37.3125 40.75 51.125 21.625 41.125 06/25/97 91% 91% 137% 121% 99% 85% 107%
06/26/97 20.5 37.375 39.95313 50.8125 22.25 40.875 06/26/97 93% 91% 135% 121% 102% 85% 107%
06/27/97 20.6875 37.25 40.67188 50.8125 21.8125 40.875 06/27/97 94% 91% 137% 121% 100% 85% 107%
06/30/97 20.5 37.5 41.17188 49.75 22.1875 41.5 06/30/97 93% 91% 139% 118% 101% 86% 107%
07/01/97 20 37.5 41.29688 50.9375 22.3125 41.75 07/01/97 90% 91% 139% 121% 102% 87% 108%
07/02/97 19.125 37.8125 41.125 52.125 22.3125 42.375 07/02/97 86% 92% 139% 124% 102% 88% 109%
07/03/97 19.125 38.25 41.5 52.5625 21.75 42.6875 07/03/97 86% 93% 140% 125% 99% 89% 109%
07/07/97 19 36.625 41.29688 51.875 22.375 42.875 07/07/97 86% 89% 139% 123% 102% 89% 109%
07/08/97 19 36.25 41.5 51.5625 21.75 43 07/08/97 86% 88% 140% 122% 99% 89% 108%
07/09/97 19.25 36.875 40.625 51.4375 22 43.125 07/09/97 87% 90% 137% 122% 101% 90% 108%
07/10/97 18.75 37 41.375 51.875 21.75 43 07/10/97 85% 90% 139% 123% 99% 89% 108%
07/11/97 18.75 37.25 41.5 52.625 22.125 42.3125 07/11/97 85% 91% 140% 125% 101% 88% 109%
07/14/97 19 38 41.67188 52.5 22.125 42.125 07/14/97 86% 93% 140% 125% 101% 88% 109%
07/15/97 19.0625 37.625 41.67188 51.9375 21.75 41.75 07/15/97 86% 92% 140% 123% 99% 87% 108%
07/16/97 19.125 39 42.20313 52.4375 21.75 41.625 07/16/97 86% 95% 142% 124% 99% 86% 110%
07/17/97 19.0625 38.6875 42.29688 51.75 22.125 40.5625 07/17/97 86% 94% 143% 123% 101% 84% 109%
07/18/97 19.8125 40.0625 41.82813 50.3125 22.5 40.5 07/18/97 90% 98% 141% 119% 103% 84% 109%
07/21/97 19.625 40 41.375 49.5 22.5 40.3125 07/21/97 89% 98% 139% 118% 103% 84% 108%
07/22/97 20.1875 40.375 41.625 51.1875 24.6875 41.375 07/22/97 91% 98% 140% 122% 113% 86% 112%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
HPH
GIX MTX IR CBE OGLE HPH GIX MTX IR CBE OGLE PEER GROUP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
07/23/97 19.75 40.6875 42.32813 51.9375 24.125 41.25 07/23/97 89% 99% 143% 123% 110% 86% 112%
07/24/97 19.1875 40.625 42.95313 53 24.875 42.3125 07/24/97 87% 99% 145% 126% 114% 88% 114%
07/25/97 18.5 40.75 43.29688 50.75 24.25 42.0625 07/25/97 84% 99% 146% 120% 111% 87% 113%
07/28/97 18.75 40.5 43.54688 52.8125 24.25 41.8125 07/28/97 85% 99% 147% 125% 111% 87% 114%
07/29/97 18.8125 40.875 44.79688 55.6875 24.3125 42.25 07/29/97 85% 100% 151% 132% 111% 88% 116%
07/30/97 19.1875 41 45.45313 57.4375 25 43 07/30/97 87% 100% 153% 136% 114% 89% 119%
07/31/97 18.9375 41 45.375 55.5625 24.75 43.125 07/31/97 86% 100% 153% 132% 113% 90% 118%
08/01/97 19 41.1875 45.25 54.9375 25 42.3125 08/01/97 86% 100% 153% 130% 114% 88% 117%
08/04/97 18.8125 41.5625 44.79688 55.9375 25 43.4375 08/04/97 85% 101% 151% 133% 114% 90% 118%
08/05/97 19 41.625 43.92188 55.3125 25.5 43.25 08/05/97 86% 102% 148% 131% 117% 90% 117%
08/06/97 19 42.25 43.70313 57.1875 25.875 43.5 08/06/97 86% 103% 147% 136% 118% 90% 119%
08/07/97 18.875 41.625 43.67188 57 25.875 43.1875 08/07/97 85% 102% 147% 135% 118% 90% 118%
08/08/97 18.375 41.375 41.92188 55.4375 25.5 42.375 08/08/97 83% 101% 141% 132% 117% 88% 116%
08/11/97 18.25 41.75 41.875 55.8125 25.5 42.75 08/11/97 82% 102% 141% 132% 117% 89% 116%
08/12/97 17.8125 41.5 42.17188 54.8125 25.625 42.0625 08/12/97 81% 101% 142% 130% 117% 87% 116%
08/13/97 17.875 40.625 42.375 54.75 26.125 42.25 08/13/97 81% 99% 143% 130% 119% 88% 116%
08/14/97 19.125 40.625 42.25 54.9375 25.5 42.0625 08/14/97 86% 99% 142% 130% 117% 87% 115%
08/15/97 18.5 40.4375 41.32813 54.5625 25.5 41.375 08/15/97 84% 99% 139% 130% 117% 86% 114%
08/18/97 18.8125 40.625 41.45313 55.375 26 41.5625 08/18/97 85% 99% 140% 131% 119% 86% 115%
08/19/97 18.8125 40.25 41.45313 55.625 25.5 41.75 08/19/97 85% 98% 140% 132% 117% 87% 115%
08/20/97 19.5625 40.5625 41.57813 57 25.5 41.5 08/20/97 88% 99% 140% 135% 117% 86% 115%
08/21/97 19.25 39.9375 41.5 54.75 25.5 40.8125 08/21/97 87% 97% 140% 130% 117% 85% 114%
08/22/97 19 40.375 41.625 55.8125 25.625 40.3125 08/22/97 86% 98% 140% 132% 117% 84% 114%
08/25/97 18.8125 40.3125 41.625 55.125 25.25 40.25 08/25/97 85% 98% 140% 131% 115% 84% 114%
08/26/97 18.875 40.0625 41.42188 54.3125 25.625 40.3125 08/26/97 85% 98% 140% 129% 117% 84% 113%
08/27/97 19 39.9375 41.42188 53.625 25.75 40.0625 08/27/97 86% 97% 140% 127% 118% 83% 113%
08/28/97 18.875 39.8125 40 53.375 27.25 40.25 08/28/97 85% 97% 135% 127% 125% 84% 113%
08/29/97 18.9375 39.75 40.07813 53.3125 26.25 40.125 08/29/97 86% 97% 135% 127% 120% 83% 112%
09/02/97 18.9375 40.25 40.5 53 27.375 09/02/97 86% 98% 136% 126% 125% 121%
09/03/97 19.1875 40.9375 42.125 53 27.875 09/03/97 87% 100% 142% 126% 127% 124%
09/04/97 19.5625 41.125 41.3125 52.75 28 09/04/97 88% 100% 139% 125% 128% 123%
09/05/97 19.875 41.5 40.9375 52.9375 29.25 09/05/97 90% 101% 138% 126% 134% 125%
09/08/97 20.25 41.8125 40.9375 53.0625 29.25 09/08/97 92% 102% 138% 126% 134% 125%
09/09/97 20.875 42.125 40.6875 52 28.25 09/09/97 94% 103% 137% 123% 129% 123%
09/10/97 21 41.625 39.0625 50.5625 28.125 09/10/97 95% 102% 132% 120% 129% 120%
09/11/97 21.0625 41.5 37.75 50.8125 28.875 09/11/97 95% 101% 127% 121% 132% 120%
09/12/97 21.625 42.1875 40.0625 52.0625 28.125 09/12/97 98% 103% 135% 124% 129% 123%
09/15/97 21.375 42.875 39.25 52.0625 29.25 09/15/97 97% 105% 132% 124% 134% 124%
09/16/97 21.125 43.5 40.8125 54.0625 29.75 09/16/97 95% 106% 138% 128% 136% 127%
09/17/97 21.625 43.75 41.625 53.9375 29.75 09/17/97 98% 107% 140% 128% 136% 128%
09/18/97 21.4375 43.9375 42.5625 54 29.75 09/18/97 97% 107% 143% 128% 136% 129%
09/19/97 21 43.75 43.0625 54.6875 29.1875 09/19/97 95% 107% 145% 130% 133% 129%
09/22/97 21.1875 44.1875 43.0625 53.9375 29.4375 09/22/97 96% 108% 145% 128% 135% 129%
09/23/97 21.3125 44.5 42.5625 53.75 28.875 09/23/97 96% 109% 143% 128% 132% 128%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
HPH
GIX MTX IR CBE OGLE HPH GIX MTX IR CBE OGLE PEER GROUP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
09/24/97 21.0625 44.75 42.5 54.3125 29.125 09/24/97 95% 109% 143% 129% 133% 129%
09/25/97 21.125 44.5 43.4375 54.0625 29 09/25/97 95% 109% 146% 128% 133% 129%
09/26/97 21.125 44.75 42.5625 53.875 29.875 09/26/97 95% 109% 143% 128% 137% 129%
09/29/97 21.125 44.375 42.625 54 29.4375 09/29/97 95% 108% 144% 128% 135% 129%
09/30/97 20.6875 44.5625 43.0625 54.0625 29.8125 09/30/97 94% 109% 145% 128% 136% 130%
10/01/97 20.6875 45.5 43.5 54.375 30.125 10/01/97 94% 111% 147% 129% 138% 131%
10/02/97 20.5 45.125 43.8125 54.1875 29.875 10/02/97 93% 110% 148% 129% 137% 131%
10/03/97 20.25 44.25 43.3125 54 29.875 10/03/97 92% 108% 146% 128% 137% 130%
10/06/97 20.5 44 45.625 54.0625 30 10/06/97 93% 107% 154% 128% 137% 132%
10/07/97 20.75 44.5625 46.0625 54.125 30.375 10/07/97 94% 109% 155% 128% 139% 133%
10/08/97 20.3125 42 45.625 54.0625 30 10/08/97 92% 102% 154% 128% 137% 130%
10/09/97 20.25 42.6875 45.25 54.3125 30 10/09/97 92% 104% 153% 129% 137% 131%
10/10/97 20.5 42.75 44.875 54.0625 30 10/10/97 93% 104% 151% 128% 137% 130%
10/13/97 20.5625 42.5 45.0625 53.9375 30 10/13/97 93% 104% 152% 128% 137% 130%
10/14/97 20.125 42.125 45.625 54.125 30 10/14/97 91% 103% 154% 128% 137% 131%
10/15/97 20.0625 41.8125 44.5625 54.125 30.5 10/15/97 91% 102% 150% 128% 139% 130%
10/16/97 19.1875 41.625 43.75 54 30 10/16/97 87% 102% 147% 128% 137% 129%
10/17/97 18.6875 41.5625 43.0625 54.1875 30.25 10/17/97 84% 101% 145% 129% 138% 128%
10/20/97 19.375 41.125 43.3125 55.25 30 10/20/97 88% 100% 146% 131% 137% 129%
10/21/97 18.25 42.625 44.5 55.875 30.1875 10/21/97 82% 104% 150% 133% 138% 131%
10/22/97 17.875 42.625 45.125 55.5 30.875 10/22/97 81% 104% 152% 132% 141% 132%
10/23/97 16.875 42.5 44.125 54.8125 30.5 10/23/97 76% 104% 149% 130% 139% 130%
10/24/97 17.375 43 42.875 54.125 31.0625 10/24/97 79% 105% 144% 128% 142% 130%
10/27/97 16.75 41.9375 37.75 50.5625 29.75 10/27/97 76% 102% 127% 120% 136% 121%
10/28/97 16.4375 41.4375 37.375 52.0625 30.1875 10/28/97 74% 101% 126% 124% 138% 122%
10/29/97 15.8125 40.1875 40.875 52.125 30.625 10/29/97 71% 98% 138% 124% 140% 125%
10/30/97 16.4375 40.6875 40.25 51.5625 30.625 10/30/97 74% 99% 136% 122% 140% 124%
10/31/97 17.0625 41.375 38.9375 52.125 31 10/31/97 77% 101% 131% 124% 142% 124%
11/03/97 17.0625 41.4375 39.4375 52.3125 32.25 11/03/97 77% 101% 133% 124% 147% 126%
11/04/97 17.3125 41.625 40.4375 53.125 32.75 11/04/97 78% 102% 136% 126% 150% 128%
11/05/97 17.375 41.5 40 53.25 32.25 11/05/97 79% 101% 135% 126% 147% 127%
11/06/97 17.6875 42.5 38.5625 52.25 32.25 11/06/97 80% 104% 130% 124% 147% 126%
11/07/97 17.125 42 38.125 51.9375 31 11/07/97 77% 102% 128% 123% 142% 124%
11/10/97 17.75 41.9375 38.125 51.625 31.5 11/10/97 80% 102% 128% 123% 144% 124%
11/11/97 17.8125 42.0625 36.9375 50.9375 30.5 11/11/97 81% 103% 124% 121% 139% 122%
11/12/97 17.0625 41.3125 34.75 50.1875 30.125 11/12/97 77% 101% 117% 119% 138% 119%
11/13/97 17.1875 41 37.5625 50.0625 29.875 11/13/97 78% 100% 127% 119% 137% 121%
11/14/97 17.8125 41.1875 38 50.1875 30.5 11/14/97 81% 100% 128% 119% 139% 122%
11/17/97 17.875 42 38.5625 49.9375 30 11/17/97 81% 102% 130% 119% 137% 122%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
HPH
GIX MTX IR CBE OGLE HPH GIX MTX IR CBE OGLE PEER GROUP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
11/18/97 17.625 42.5 38.1875 50.125 30.5 11/18/97 80% 104% 129% 119% 139% 123%
11/19/97 17.6875 42.5625 38.75 49.9375 30.5 11/19/97 80% 104% 131% 119% 139% 123%
11/20/97 18.25 42.5625 40.125 50.5 29.625 11/20/97 82% 104% 135% 120% 135% 124%
11/21/97 18.3125 42.625 41 51.125 30.25 11/21/97 83% 104% 138% 121% 138% 125%
11/24/97 17.4375 42.3125 39.25 51 30.25 11/24/97 79% 103% 132% 121% 138% 124%
11/25/97 17.9375 42.25 39 51.375 30.125 11/25/97 81% 103% 131% 122% 138% 124%
11/26/97 17.8125 43.5625 39.8125 51.25 31 11/26/97 81% 106% 134% 122% 142% 126%
11/28/97 17.875 43.75 40.875 51.625 31 11/28/97 81% 107% 138% 123% 142% 127%
12/01/97 17.5 45.3125 40.25 51.875 31.1875 12/01/97 79% 111% 136% 123% 143% 128%
12/02/97 17.875 45.5625 40.6875 51.625 31.25 12/02/97 81% 111% 137% 123% 143% 128%
12/03/97 17.75 45.6875 41.0625 51.25 31 12/03/97 80% 111% 138% 122% 142% 128%
12/04/97 17.75 45.625 41.8125 51.3125 31 12/04/97 80% 111% 141% 122% 142% 129%
12/05/97 18.5625 45.4375 42.0625 51.625 31.75 12/05/97 84% 111% 142% 123% 145% 130%
12/08/97 18.0625 45.6875 41.3125 51.0625 31.75 12/08/97 82% 111% 139% 121% 145% 129%
12/09/97 17.75 45.75 41.9375 50.5625 31.75 12/09/97 80% 112% 141% 120% 145% 130%
12/10/97 18 44.75 40 50.0625 31.75 12/10/97 81% 109% 135% 119% 145% 127%
12/11/97 17.75 44.6875 39.8125 50.125 31.25 12/11/97 80% 109% 134% 119% 143% 126%
12/12/97 17.5 44.5 40.75 50 32 12/12/97 79% 109% 137% 119% 146% 128%
12/15/97 17.375 43.9375 40.6875 50.1875 32.25 12/15/97 79% 107% 137% 119% 147% 128%
12/16/97 16.75 45.6875 42.0625 50.0625 32 12/16/97 76% 111% 142% 119% 146% 130%
12/17/97 16.75 46.0625 40.8125 50.6875 32 12/17/97 76% 112% 138% 120% 146% 129%
12/18/97 16.375 44.8125 40.375 49.125 34 12/18/97 74% 109% 136% 117% 155% 129%
12/19/97 16.375 44.1875 39.5 48.4375 35.25 12/19/97 74% 108% 133% 115% 161% 129%
12/22/97 16.5 44.0625 39.4375 48 38.625 12/22/97 75% 107% 133% 114% 177% 133%
12/23/97 16.5 44.125 39.25 47.125 40.25 12/23/97 75% 108% 132% 112% 184% 134%
12/24/97 17.3125 44.625 38.875 47.6875 41.25 12/24/97 78% 109% 131% 113% 189% 135%
12/26/97 16.9375 44.5625 39.4375 47.8125 40.5 12/26/97 77% 109% 133% 114% 185% 135%
12/29/97 17.3125 45.1875 39.8125 48 40.5 12/29/97 78% 110% 134% 114% 185% 136%
12/30/97 17.5 45.6875 40.875 48.3125 40.625 12/30/97 79% 111% 138% 115% 186% 137%
12/31/97 16.9375 45.4375 40.5 49 41 12/31/97 77% 111% 136% 116% 187% 138%
01/02/98 17 45.3125 41.0625 49.5 39.5 01/02/98 77% 111% 138% 118% 181% 137%
01/05/98 17 46 40 49.875 39.5 01/05/98 77% 112% 135% 118% 181% 136%
01/06/98 16.75 45.625 40.25 50.8125 39 01/06/98 76% 111% 136% 121% 178% 136%
01/07/98 17.1875 45.4375 39.875 50.75 39.5 01/07/98 78% 111% 134% 120% 181% 137%
01/08/98 16.6875 44.625 39 49.5625 39.75 01/08/98 75% 109% 131% 118% 182% 135%
01/09/98 16.625 43 36.9375 47.5625 39.625 01/09/98 75% 105% 124% 113% 181% 131%
01/12/98 16.875 44 37.3125 48 38.75 01/12/98 76% 107% 126% 114% 177% 131%
01/13/98 16.8125 43.6875 38.1875 49.75 39.25 01/13/98 76% 107% 129% 118% 179% 133%
01/14/98 16.8125 44.3125 38.625 50 39.375 01/14/98 76% 108% 130% 119% 180% 134%
01/15/98 16.5 43.625 38.75 49.0625 39.5 01/15/98 75% 106% 131% 116% 181% 134%
01/16/98 16.75 44.4375 39.75 49.9375 37.5 01/16/98 76% 108% 134% 119% 171% 133%
01/20/98 16.625 43.625 39.1875 50.875 37.5 01/20/98 75% 106% 132% 121% 171% 133%
01/21/98 16.125 43.875 38.8125 49.9375 37.625 01/21/98 73% 107% 131% 119% 172% 132%
01/22/98 16.1875 43.0625 38.1875 48.125 37.75 01/22/98 73% 105% 129% 114% 173% 130%
01/23/98 16.0625 42.75 37.1875 48.8125 37.875 01/23/98 73% 104% 125% 116% 173% 130%
01/26/98 16.75 42.3125 37.625 48.0625 37.75 01/26/98 76% 103% 127% 114% 173% 129%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
HPH
GIX MTX IR CBE OGLE HPH GIX MTX IR CBE OGLE PEER GROUP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
01/27/98 16.875 41.4375 37.3125 50.875 37.875 01/27/98 76% 101% 126% 121% 173% 130%
01/28/98 16.875 42.4375 37.8125 50.9375 37.75 01/28/98 76% 104% 127% 121% 173% 131%
01/29/98 16.625 43.125 39.5 52.5 37.5 01/29/98 75% 105% 133% 125% 171% 134%
01/30/98 16.5 42.875 39.875 53.0625 37 01/30/98 75% 105% 134% 126% 169% 134%
02/02/98 16.75 44.5625 42.125 54.25 37 02/02/98 76% 109% 142% 129% 169% 137%
02/03/98 17.1875 44.6875 43 54 37 02/03/98 78% 109% 145% 128% 169% 138%
02/04/98 16.9375 45 42.375 56 37 02/04/98 77% 110% 143% 133% 169% 139%
02/05/98 16.0625 44.9375 43 55.9375 36 02/05/98 73% 110% 145% 133% 165% 138%
02/06/98 16 44.875 44.0625 56.25 36 02/06/98 72% 109% 148% 134% 165% 139%
02/09/98 16 44.875 44.875 56.5625 36.625 02/09/98 72% 109% 151% 134% 167% 141%
02/10/98 15.9375 45.1875 44.3125 56.4375 37 02/10/98 72% 110% 149% 134% 169% 141%
02/11/98 15.8125 45.3125 43.875 56.125 36.75 02/11/98 71% 111% 148% 133% 168% 140%
02/12/98 15.8125 45.75 44.875 55.9375 36.5 02/12/98 71% 112% 151% 133% 167% 141%
02/13/98 15.4375 45.5 44.375 55.875 36.25 02/13/98 70% 111% 150% 133% 166% 140%
02/17/98 15.0625 45 44.6875 55.625 36.5 02/17/98 68% 110% 151% 132% 167% 140%
02/18/98 15.3125 45.875 44.375 55.5625 36.125 02/18/98 69% 112% 150% 132% 165% 140%
02/19/98 15 45.5 43.9375 56.125 36.75 02/19/98 68% 111% 148% 133% 168% 140%
02/20/98 15.8125 46 44 56.8125 37.75 02/20/98 71% 112% 148% 135% 173% 142%
02/23/98 15.6875 45.9375 44 57.4375 37 02/23/98 71% 112% 148% 136% 169% 141%
02/24/98 15.6875 46.125 44.75 55.5625 37.5 02/24/98 71% 113% 151% 132% 171% 142%
02/25/98 15.75 47.0625 45.8125 56.125 37.5 02/25/98 71% 115% 154% 133% 171% 143%
02/26/98 15.625 47.1875 47.1875 55.6875 37.5 02/26/98 71% 115% 159% 132% 171% 144%
02/27/98 15.6875 47.75 47.625 56.125 38 02/27/98 71% 116% 161% 133% 174% 146%
03/02/98 15.5625 49.375 47 56.5625 38.75 03/02/98 70% 120% 158% 134% 177% 148%
03/03/98 15.5625 50.125 47.6875 56.75 39.375 03/03/98 70% 122% 161% 135% 180% 149%
03/04/98 16.3125 49.9375 47.125 56.875 38.25 03/04/98 74% 122% 159% 135% 175% 148%
03/05/98 15.875 50.1875 46.25 56.5 38.125 03/05/98 72% 122% 156% 134% 174% 147%
03/06/98 16.3125 51 47 57.9375 38.125 03/06/98 74% 124% 158% 138% 174% 149%
03/09/98 16.4375 51.25 46.75 58.125 39.25 03/09/98 74% 125% 158% 138% 179% 150%
03/10/98 16.25 52 46.6875 59.1875 39 03/10/98 73% 127% 157% 141% 178% 151%
03/11/98 16.0625 50.875 47.25 59.625 39.25 03/11/98 73% 124% 159% 142% 179% 151%
03/12/98 16.0625 49.9375 47.8125 59.25 39.25 03/12/98 73% 122% 161% 141% 179% 151%
03/13/98 16.1875 49.5625 47.8125 59.0625 38.75 03/13/98 73% 121% 161% 140% 177% 150%
03/16/98 16.0625 50.125 47.9375 59.5 39 03/16/98 73% 122% 162% 141% 178% 151%
03/17/98 16.125 49.75 48.25 57.4375 39.75 03/17/98 73% 121% 163% 136% 182% 151%
03/18/98 15.875 50 48.25 58.625 39.25 03/18/98 72% 122% 163% 139% 179% 151%
03/19/98 15.625 50.875 48.375 59.4375 39.25 03/19/98 71% 124% 163% 141% 179% 152%
03/20/98 15.4375 50.875 49 60.25 40 03/20/98 70% 124% 165% 143% 183% 154%
03/23/98 15.6875 51.4375 48 59.8125 40 03/23/98 71% 125% 162% 142% 183% 153%
03/24/98 15.5625 51.6875 48.8125 59.9375 39.5 03/24/98 70% 126% 165% 142% 181% 153%
03/25/98 15.625 51.125 48.3125 59.875 40.5 03/25/98 71% 125% 163% 142% 185% 154%
03/26/98 16.1875 50.125 47.6875 59.8125 41.125 03/26/98 73% 122% 161% 142% 188% 153%
03/27/98 16.125 49.9375 47.5625 58.9375 40.5 03/27/98 73% 122% 160% 140% 185% 152%
03/30/98 16.125 49.625 48.0625 58.1875 40.5 03/30/98 73% 121% 162% 138% 185% 152%
03/31/98 16.5 50.375 47.9375 59.4375 41.25 03/31/98 75% 123% 162% 141% 189% 154%
04/01/98 16.9375 50.9375 48.5 60.125 41 04/01/98 77% 124% 163% 143% 187% 154%
04/02/98 17.375 50.625 50.8125 60.875 42.5 04/02/98 79% 123% 171% 145% 194% 158%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
HPH
GIX MTX IR CBE OGLE HPH GIX MTX IR CBE OGLE PEER GROUP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
04/03/98 17 51 51.5 65.375 42.25 04/03/98 77% 124% 174% 155% 193% 162%
04/06/98 17.25 49.5625 50.75 67.8125 43.75 04/06/98 78% 121% 171% 161% 200% 163%
04/07/98 17.1875 49 51 66.6875 43.875 04/07/98 78% 120% 172% 158% 201% 163%
04/08/98 16.8125 49.125 51.5 65.9375 43.0625 04/08/98 76% 120% 174% 157% 197% 162%
04/09/98 17.125 49.6875 51.3125 65.6875 44 04/09/98 77% 121% 173% 156% 201% 163%
04/13/98 17.1875 50.625 51.3125 65.9375 44.375 04/13/98 78% 123% 173% 157% 203% 164%
04/14/98 17.75 51.5625 52 66.375 47.5 04/14/98 80% 126% 175% 158% 217% 169%
04/15/98 17.3125 50.625 53.5 67.8125 49 04/15/98 78% 123% 180% 161% 224% 172%
04/16/98 17 50.5 52.0625 67.25 50.5 04/16/98 77% 123% 175% 160% 231% 172%
04/17/98 18.25 51.625 52.3125 67.625 47.25 04/17/98 82% 126% 176% 161% 216% 170%
04/20/98 17.9375 51.375 52.875 67.3125 47.5 04/20/98 81% 125% 178% 160% 217% 170%
04/21/98 18.25 52.3125 53.5 66.8125 49.5 04/21/98 82% 128% 180% 159% 226% 173%
04/22/98 17.8125 53.625 50.75 67.5 48 04/22/98 81% 131% 171% 160% 219% 170%
04/23/98 17.6875 53.8125 49.75 66.875 47.5 04/23/98 80% 131% 168% 159% 217% 169%
04/24/98 17.0625 53.1875 48.8125 65.375 46.5 04/24/98 77% 130% 165% 155% 213% 165%
04/27/98 16.9375 52 47.3125 63.25 45.5 04/27/98 77% 127% 159% 150% 208% 161%
04/28/98 17.25 52.5625 46.875 63.3125 46 04/28/98 78% 128% 158% 150% 210% 162%
04/29/98 17.25 53.625 45.75 65.0625 47 04/29/98 78% 131% 154% 154% 215% 164%
04/30/98 17.9375 54.4375 46.0625 66.875 45.25 04/30/98 81% 133% 155% 159% 207% 163%
05/01/98 18.25 54.6875 46.5 67.3125 45.25 05/01/98 82% 133% 157% 160% 207% 164%
05/04/98 17.875 54.875 46.6875 68.375 45.75 05/04/98 81% 134% 157% 162% 209% 166%
05/05/98 18.625 55.25 45.5625 69.9375 45.5 05/05/98 84% 135% 154% 166% 208% 166%
05/06/98 18.0625 54.6875 45.8125 68.1875 45 05/06/98 82% 133% 154% 162% 206% 164%
05/07/98 17.875 54.25 45.6875 68.625 44.9375 05/07/98 81% 132% 154% 163% 205% 164%
05/08/98 17.75 54.6875 46.125 68.625 45 05/08/98 80% 133% 155% 163% 206% 164%
05/11/98 17.875 54.625 46.625 69.25 45 05/11/98 81% 133% 157% 164% 206% 165%
05/12/98 17.75 54.6875 46.5 69.25 44.625 05/12/98 80% 133% 157% 164% 204% 165%
05/13/98 17.5625 54.4375 46.5625 68.8125 44 05/13/98 79% 133% 157% 163% 201% 164%
05/14/98 17.3125 54.0625 47.125 69.1875 43.25 05/14/98 78% 132% 159% 164% 198% 163%
05/15/98 17.0625 53.9375 47.1875 68.1875 43.25 05/15/98 77% 132% 159% 162% 198% 163%
05/18/98 17.0625 53.25 46.75 68.6875 44.125 05/18/98 77% 130% 158% 163% 202% 163%
05/19/98 17.125 54.0625 47.375 68.25 43.25 05/19/98 77% 132% 160% 162% 198% 163%
05/20/98 17.1875 54.1875 47.5 69 43.25 05/20/98 78% 132% 160% 164% 198% 163%
05/21/98 17.1875 53.6875 46.75 67.4375 44.5 05/21/98 78% 131% 158% 160% 203% 163%
05/22/98 17.375 53.0625 46.625 66.625 44.5 05/22/98 79% 129% 157% 158% 203% 162%
05/26/98 17 51.625 46.1875 66.0625 43.125 05/26/98 77% 126% 156% 157% 197% 159%
05/27/98 16.9375 52.1875 45.625 64.625 41.75 05/27/98 77% 127% 154% 153% 191% 156%
05/28/98 17.3125 52.625 45.25 64.1875 44 05/28/98 78% 128% 153% 152% 201% 159%
05/29/98 16.9375 52.9375 45.0625 64.375 43.5625 05/29/98 77% 129% 152% 153% 199% 158%
06/01/98 16.5 52.875 44.25 63.5625 44 06/01/98 75% 129% 149% 151% 201% 158%
06/02/98 16.375 52.75 43.625 62.5625 44 06/02/98 74% 129% 147% 149% 201% 156%
06/03/98 16.0625 52.875 43.5 61.9375 43 06/03/98 73% 129% 147% 147% 197% 155%
06/04/98 16 53.625 43.25 62.1875 43 06/04/98 72% 131% 146% 148% 197% 155%
06/05/98 15.875 54.1875 43.9375 62.625 43.5 06/05/98 72% 132% 148% 149% 199% 157%
06/08/98 15.5 53.9375 43.75 63.3125 42.625 06/08/98 70% 132% 147% 150% 195% 156%
06/09/98 15.4375 54.25 44.125 62.9375 43 06/09/98 70% 132% 149% 149% 197% 157%
06/10/98 15.5 53.1875 44 61.75 43.5 06/10/98 70% 130% 148% 147% 199% 156%
06/11/98 15 52.6875 43.5 60.4375 42.125 06/11/98 68% 129% 147% 143% 193% 153%
06/12/98 14.625 51.375 44 60.25 43.375 06/12/98 66% 125% 148% 143% 198% 154%
06/15/98 14.1875 51.8125 43.9375 61.8125 42 06/15/98 64% 126% 148% 147% 192% 153%
06/16/98 14.625 52.5625 43 61.8125 41.25 06/16/98 66% 128% 145% 147% 189% 152%
06/17/98 14.8125 53.3125 44.5 62.625 42.125 06/17/98 67% 130% 150% 149% 193% 155%
06/18/98 14.4375 51.375 43.4375 63.25 41.0625 06/18/98 65% 125% 146% 150% 188% 152%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
HPH
GIX MTX IR CBE OGLE HPH GIX MTX IR CBE OGLE PEER GROUP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
06/19/98 14.4375 51.125 41.625 56 41.0625 06/19/98 65% 125% 140% 133% 188% 146%
06/22/98 14.125 50.8125 42.1875 55.0625 40.75 06/22/98 64% 124% 142% 131% 186% 146%
06/23/98 14.0625 50.5 42.125 56.875 40.75 06/23/98 64% 123% 142% 135% 186% 147%
06/24/98 14.3125 51.0625 43.1875 57.625 39.5 06/24/98 65% 125% 146% 137% 181% 147%
06/25/98 14.25 51.625 42 57 40.75 06/25/98 64% 126% 142% 135% 186% 147%
06/26/98 14.375 51.75 42.5 57.1875 40 06/26/98 65% 126% 143% 136% 183% 147%
06/29/98 14.25 51.4375 41.875 56.125 40 06/29/98 64% 125% 141% 133% 183% 146%
06/30/98 14.375 50.875 44.0625 54.9375 39.5 06/30/98 65% 124% 148% 130% 181% 146%
07/01/98 14.75 51.3125 44.875 56.25 39 07/01/98 67% 125% 151% 134% 178% 147%
07/02/98 15.125 50.8125 43.0625 55.9375 39.75 07/02/98 68% 124% 145% 133% 182% 146%
07/06/98 14.9375 52.6875 43.5 56.4375 38.5 07/06/98 68% 129% 147% 134% 176% 146%
07/07/98 15 53.25 43.25 57.1875 39 07/07/98 68% 130% 146% 136% 178% 147%
07/08/98 15.0625 53 41.1875 57 39 07/08/98 68% 129% 139% 135% 178% 145%
07/09/98 14.75 53.5625 42.4375 56.125 38.75 07/09/98 67% 131% 143% 133% 177% 146%
07/10/98 14.875 52.875 43.625 56.375 39.75 07/10/98 67% 129% 147% 134% 182% 148%
07/13/98 14.6875 52.3125 43.75 55 38.75 07/13/98 66% 128% 147% 131% 177% 146%
07/14/98 15 52.875 45.4375 55.3125 38.75 07/14/98 68% 129% 153% 131% 177% 148%
07/15/98 14.9375 53.25 46 55.625 41 07/15/98 68% 130% 155% 132% 187% 151%
07/16/98 14.9375 53.3125 46.5 56.4375 38.375 07/16/98 68% 130% 157% 134% 175% 149%
07/17/98 14.6875 53.25 45.6875 56.25 38 07/17/98 66% 130% 154% 134% 174% 148%
07/20/98 14.5625 52.8125 45.0625 56.0625 39 07/20/98 66% 129% 152% 133% 178% 148%
07/21/98 14.8125 51.625 44.9375 55 38.875 07/21/98 67% 126% 151% 131% 178% 146%
07/22/98 14.5 50.1875 45.0625 54.875 38.875 07/22/98 66% 122% 152% 130% 178% 146%
07/23/98 14.375 49.8125 46.25 52.4375 37.5 07/23/98 65% 121% 156% 124% 171% 143%
07/24/98 14.5 50.8125 45.5 48.5625 35.75 07/24/98 66% 124% 153% 115% 163% 139%
07/27/98 14 49.5 45.8125 49.875 35.75 07/27/98 63% 121% 154% 118% 163% 139%
07/28/98 13.8125 48.625 45.25 50.4375 37.5 07/28/98 62% 119% 153% 120% 171% 141%
07/29/98 13.9375 48.6875 44.25 53.125 37.5 07/29/98 63% 119% 149% 126% 171% 141%
07/30/98 13.75 49.5 44.8125 53.5 39 07/30/98 62% 121% 151% 127% 178% 144%
07/31/98 13.4375 48.875 44.25 52.4375 36.75 07/31/98 61% 119% 149% 124% 168% 140%
08/03/98 13.3125 48.625 45.8125 53 31.5 08/03/98 60% 119% 154% 126% 144% 136%
08/04/98 12.875 47.625 43.875 51.125 31.875 08/04/98 58% 116% 148% 121% 146% 133%
08/05/98 12.8125 46.1875 44.5625 48.0625 32 08/05/98 58% 113% 150% 114% 146% 131%
08/06/98 12.6875 46.75 46.5625 46.4375 28.5 08/06/98 57% 114% 157% 110% 130% 128%
08/07/98 12.8125 47.375 46.625 45.9375 31.5 08/07/98 58% 116% 157% 109% 144% 131%
08/10/98 12.8125 46.5 46.25 46.625 30.375 08/10/98 58% 113% 156% 111% 139% 130%
08/11/98 12.625 45.375 45.125 48.375 29.375 08/11/98 57% 111% 152% 115% 134% 128%
08/12/98 12.5 46.125 45.8125 49.8125 30.375 08/12/98 56% 113% 154% 118% 139% 131%
08/13/98 12.1875 45.5 44.8125 48.25 29.625 08/13/98 55% 111% 151% 115% 135% 128%
08/14/98 11.8125 44.125 43.125 46.4375 29.5 08/14/98 53% 108% 145% 110% 135% 125%
08/17/98 11.9375 45 43.9375 46.5625 29.25 08/17/98 54% 110% 148% 111% 134% 126%
08/18/98 12.1875 46.125 44.4375 48.1875 30.125 08/18/98 55% 113% 150% 114% 138% 129%
08/19/98 12.125 44.75 43 47.1875 30.25 08/19/98 55% 109% 145% 112% 138% 126%
08/20/98 12 45.0625 43.4375 48.0625 29.875 08/20/98 54% 110% 146% 114% 137% 127%
08/21/98 11.625 44.1875 43.1875 49 30 08/21/98 53% 108% 146% 116% 137% 127%
08/24/98 11.25 44.3125 42.5 49.0625 30 08/24/98 51% 108% 143% 116% 137% 126%
08/25/98 11 43.25 43.0625 48 29.9375 08/25/98 50% 105% 145% 114% 137% 125%
08/26/98 10.625 41.75 42.5 46.5625 29.5 08/26/98 48% 102% 143% 111% 135% 123%
08/27/98 9.5 40.125 40.25 44.75 29.5 08/27/98 43% 98% 136% 106% 135% 119%
08/28/98 8.25 37 40.625 44.8125 28.5 08/28/98 37% 90% 137% 106% 130% 116%
08/31/98 6 36.3125 39.75 42.5625 29.28125 08/31/98 27% 89% 134% 101% 134% 114%
09/01/98 5.9375 37.3125 40.5 43.0625 29.25 09/01/98 27% 91% 136% 102% 134% 116%
09/02/98 5.75 37.4375 41.0625 41.8125 29 09/02/98 26% 91% 138% 99% 133% 115%
09/03/98 7 38 39.1875 41.875 29 09/03/98 32% 93% 132% 99% 133% 114%
09/04/98 8 37.875 39.875 42.25 28.75 09/04/98 36% 92% 134% 100% 131% 115%
09/08/98 7.5 39.25 40 42.6875 29.125 09/08/98 34% 96% 135% 101% 133% 116%
09/09/98 6.8125 38.0625 40.5625 42.625 29 09/09/98 31% 93% 137% 101% 133% 116%
09/10/98 6.5625 36.5625 37.3125 42.5 28.875 09/10/98 30% 89% 126% 101% 132% 112%
09/11/98 6.125 37.5 38.25 44 28.75 09/11/98 28% 91% 129% 104% 131% 114%
09/14/98 5.9375 37.4375 39.375 45.625 28.9375 09/14/98 27% 91% 133% 108% 132% 116%
09/15/98 6.3125 37.5 40.8125 45.8125 28.84375 09/15/98 29% 91% 138% 109% 132% 117%
09/16/98 7.3125 38.1875 40 45.8125 28.25 09/16/98 33% 93% 135% 109% 129% 116%
09/17/98 6.9375 37.75 38.625 45.1875 28.625 09/17/98 31% 92% 130% 107% 131% 115%
09/18/98 7.0625 38.375 37.25 44.25 28.5 09/18/98 32% 94% 126% 105% 130% 114%
09/21/98 7.5625 38.5 36.875 44.0625 28.625 09/21/98 34% 94% 124% 105% 131% 113%
09/22/98 7.375 38.0625 38.875 43.0625 28.875 09/22/98 33% 93% 131% 102% 132% 115%
09/23/98 7.625 39.0625 41.25 41.9375 28.625 09/23/98 34% 95% 139% 100% 131% 116%
09/24/98 7 38.875 39.625 41.0625 28.25 09/24/98 32% 95% 134% 97% 129% 114%
09/25/98 7 39.25 38.3125 41.375 27 09/25/98 32% 96% 129% 98% 123% 112%
09/28/98 7.1875 40.125 39.125 42 27.25 09/28/98 32% 98% 132% 100% 125% 113%
09/29/98 7.25 41.25 38.8125 44 27 09/29/98 33% 101% 131% 104% 123% 115%
09/30/98 7 44.0625 37.9375 40.75 26.5 09/30/98 32% 107% 128% 97% 121% 113%
10/01/98 7.125 40.0625 35.6875 39.9375 26.25 10/01/98 32% 98% 120% 95% 120% 108%
10/02/98 7.375 41.9375 36.8125 42 24.5 10/02/98 33% 102% 124% 100% 112% 110%
10/05/98 8.875 40.8125 36.3125 40.3125 23.25 10/05/98 40% 100% 122% 96% 106% 106%
10/06/98 8.875 39.8125 36.25 38.375 24 10/06/98 40% 97% 122% 91% 110% 105%
10/07/98 8.9375 41 35.75 37.9375 24 10/07/98 40% 100% 120% 90% 110% 105%
10/08/98 8.5 41 35 37.9375 23.75 10/08/98 38% 100% 118% 90% 109% 104%
10/09/98 8.4375 40.8125 37 38.875 22.375 10/09/98 38% 100% 125% 92% 102% 105%
10/12/98 8.5625 42.1875 37.5625 40.0625 22.75 10/12/98 39% 103% 127% 95% 104% 107%
10/13/98 7.9375 43.5 36.25 39.375 24 10/13/98 36% 106% 122% 93% 110% 108%
10/14/98 7.9375 44.25 37.1875 38.25 24 10/14/98 36% 108% 125% 91% 110% 108%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
HPH
GIX MTX IR CBE OGLE HPH GIX MTX IR CBE OGLE PEER GROUP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
10/15/98 8 43 38.25 39.5 24.25 10/15/98 36% 105% 129% 94% 111% 110%
10/16/98 8.125 41.1875 39.9375 41.9375 24 10/16/98 37% 100% 135% 100% 110% 111%
10/19/98 8.25 41.8125 42 43.0625 23.75 10/19/98 37% 102% 142% 102% 109% 114%
10/20/98 8.8125 43.75 43.9375 44.4375 23.75 10/20/98 40% 107% 148% 105% 109% 117%
10/21/98 9 44.0625 45.6875 44.6875 24.25 10/21/98 41% 107% 154% 106% 111% 120%
10/22/98 8.75 44 46.1875 45.6875 25.625 10/22/98 40% 107% 156% 108% 117% 122%
10/23/98 8.5 44.6875 45.25 43.9375 25.4375 10/23/98 38% 109% 153% 104% 116% 121%
10/26/98 9 44.4375 44.3125 43.5 25 10/26/98 41% 108% 149% 103% 114% 119%
10/27/98 8.75 44.125 45.8125 42.375 24.875 10/27/98 40% 108% 154% 101% 114% 119%
10/28/98 8.625 44.125 46 42.3125 26 10/28/98 39% 108% 155% 100% 119% 120%
10/29/98 8.8125 43.8125 47.625 43.9375 25 10/29/98 40% 107% 161% 104% 114% 121%
10/30/98 8.6875 45.5625 50.5625 44.125 25.875 10/30/98 39% 111% 170% 105% 118% 126%
11/02/98 8.9375 48.5 50.625 45.75 26 11/02/98 40% 118% 171% 109% 119% 129%
11/03/98 8.4375 49.0625 50.9375 47.0625 27 11/03/98 38% 120% 172% 112% 123% 132%
11/04/98 8.625 49.5 50.625 48.3125 26.625 11/04/98 39% 121% 171% 115% 122% 132%
11/05/98 8.875 49.625 49.4375 49.4375 27.53125 11/05/98 40% 121% 167% 117% 126% 133%
11/06/98 9 50.375 48.75 48.9375 27 11/06/98 41% 123% 164% 116% 123% 132%
11/09/98 9 50.125 48.3125 49 27.125 11/09/98 41% 122% 163% 116% 124% 131%
11/10/98 9.0625 50.125 45.5 48.9375 27.5 11/10/98 41% 122% 153% 116% 126% 129%
11/11/98 9.9375 50.6875 45.375 48.8125 27 11/11/98 45% 124% 153% 116% 123% 129%
11/12/98 9.875 50.75 46.25 48.875 27 11/12/98 45% 124% 156% 116% 123% 130%
11/13/98 10.3125 50.375 46.1875 48.875 27.5 11/13/98 47% 123% 156% 116% 126% 130%
11/16/98 9.9375 50.25 46.4375 48.75 27.75 11/16/98 45% 123% 157% 116% 127% 130%
11/17/98 9.25 50.8125 46.5625 49.1875 26.875 11/17/98 42% 124% 157% 117% 123% 130%
11/18/98 9.125 49.9375 45.75 48.5 26.875 11/18/98 41% 122% 154% 115% 123% 128%
11/19/98 9.1875 49.125 45.1875 48.9375 26.625 11/19/98 42% 120% 152% 116% 122% 127%
11/20/98 9.0625 46 46.9375 49.125 26.625 11/20/98 41% 112% 158% 117% 122% 127%
11/23/98 8.9375 44.625 47.75 49.0625 26.5 11/23/98 40% 109% 161% 116% 121% 127%
11/24/98 8.9375 43.125 48.6875 49.125 26.5 11/24/98 40% 105% 164% 117% 121% 127%
11/25/98 8.875 43.9375 48.1875 49.25 26 11/25/98 40% 107% 162% 117% 119% 126%
11/27/98 8.8125 43.8125 48.0625 49.4375 26 11/27/98 40% 107% 162% 117% 119% 126%
11/30/98 8.375 43.875 46.875 49.125 26 11/30/98 38% 107% 158% 117% 119% 125%
12/01/98 8.3125 43.375 46.25 49.0625 25.625 12/01/98 38% 106% 156% 116% 117% 124%
12/02/98 8.1875 43 46.1875 49.5 26.375 12/02/98 37% 105% 156% 118% 121% 125%
12/03/98 8 43.4375 45.8125 49.4375 26.375 12/03/98 36% 106% 154% 117% 121% 125%
12/04/98 8.0625 43.5625 46.625 50.125 26 12/04/98 36% 106% 157% 119% 119% 125%
12/07/98 7.5625 43.4375 46.875 50 26 12/07/98 34% 106% 158% 119% 119% 125%
12/08/98 7.875 41.3125 44.75 49.75 25.5 12/08/98 36% 101% 151% 118% 117% 122%
12/09/98 8.0625 40.8125 46.4375 50 26.125 12/09/98 36% 100% 157% 119% 119% 124%
12/10/98 7.875 40.0625 45.625 49.625 25.5 12/10/98 36% 98% 154% 118% 117% 121%
12/11/98 8.125 40.375 44.75 49.8125 25.375 12/11/98 37% 98% 151% 118% 116% 121%
12/14/98 8.375 40.125 43.6875 49.625 25.375 12/14/98 37.85% 98% 147% 118% 116% 119.73%
12/15/98 10.625 39.75 44.625 50 25.75 12/15/98 48% 97% 150% 119% 118% 121%
12/16/98 11.3125 38.75 44.25 49.8125 25 12/16/98 51% 95% 149% 118% 114% 119%
12/17/98 11 39 43.6875 48.625 25.375 12/17/98 50% 95% 147% 115% 116% 118%
12/18/98 11 38.5625 42.0625 47 25 12/18/98 50% 94% 142% 112% 114% 115%
12/21/98 10.5 38.375 43.4375 46.75 24.25 12/21/98 47% 94% 146% 111% 111% 115%
12/22/98 10.5 39.125 43.5625 47.25 24.75 12/22/98 47% 95% 147% 112% 113% 117%
12/23/98 10.375 39.4375 44.875 47.6875 25.75 12/23/98 47% 96% 151% 113% 118% 120%
12/24/98 10.625 39.3125 44.6875 47.4375 25.75 12/24/98 48% 96% 151% 113% 118% 119%
12/28/98 10.5 40 45.0625 47.125 24.75 12/28/98 47% 98% 152% 112% 113% 119%
12/29/98 10.3125 40.125 46.5625 47.625 25 12/29/98 47% 98% 157% 113% 114% 121%
12/30/98 10.4375 40.125 47 47.375 25 12/30/98 47% 98% 158% 112% 114% 121%
12/31/98 10.6875 40.9375 47.25 47.6875 24.75 12/31/98 48% 100% 159% 113% 113% 121%
01/04/99 11 41.5625 46.875 47.6875 24.5 01/04/99 50% 101% 158% 113% 112% 121%
01/05/99 11 41.5 48.5625 47.8125 24 01/05/99 50% 101% 164% 114% 110% 122%
01/06/99 11.5625 41.5 48.6875 48 25.5 01/06/99 52% 101% 164% 114% 117% 124%
01/07/99 11.125 42 48.1875 46.5 25.25 01/07/99 50% 102% 162% 110% 115% 123%
01/08/99 11.0625 41.5 49.4375 47.5 26.5 01/08/99 50% 101% 167% 113% 121% 125%
01/11/99 11.125 41.5 48.6875 45.375 25.75 01/11/99 50% 101% 164% 108% 118% 123%
01/12/99 10.5 41.25 46.75 44.25 26.25 01/12/99 47% 101% 158% 105% 120% 121%
01/13/99 10.375 40.5 46.0625 43.75 26.25 01/13/99 47% 99% 155% 104% 120% 119%
01/14/99 10.3125 40.0625 45 43.25 26 01/14/99 47% 98% 152% 103% 119% 118%
01/15/99 10.375 40.3125 46.6875 44.8125 26.125 01/15/99 47% 98% 157% 106% 119% 120%
01/19/99 11 40 46.75 44.625 26.375 01/19/99 50% 98% 158% 106% 121% 120%
01/20/99 11.375 38.5 48.8125 44.125 26.5 01/20/99 51% 94% 165% 105% 121% 121%
01/21/99 10.9375 38.875 47.375 44.125 27.125 01/21/99 49% 95% 160% 105% 124% 121%
01/22/99 10.875 39.25 46.5625 43.1875 27.125 01/22/99 49% 96% 157% 103% 124% 120%
01/25/99 10.75 39.375 47.3125 43.1875 27.125 01/25/99 49% 96% 159% 103% 124% 121%
01/26/99 10.75 39.875 48.5625 42.9375 27 01/26/99 49% 97% 164% 102% 123% 122%
01/27/99 10.75 39.5625 47.75 42.8125 26 01/27/99 49% 96% 161% 102% 119% 119%
01/28/99 10.625 39.125 46.625 42.375 26.625 01/28/99 48% 95% 157% 101% 122% 119%
01/29/99 10.75 39.5625 47.625 41.4375 26.25 01/29/99 49% 96% 161% 98% 120% 119%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
HPH
GIX MTX IR CBE OGLE HPH GIX MTX IR CBE OGLE PEER GROUP
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
02/01/99 10.75 40.125 47.5625 41.1875 26.375 02/01/99 49% 98% 160% 98% 121% 119%
02/02/99 10.875 40.3125 48.8125 41.125 25 02/02/99 49% 98% 165% 98% 114% 119%
02/03/99 11.25 40.5625 49.4375 42.125 24.75 02/03/99 51% 99% 167% 100% 113% 120%
02/04/99 10.75 40.875 49.3125 43 24 02/04/99 49% 100% 166% 102% 110% 119%
02/05/99 10.9375 40.75 49.6875 43.5625 22.875 02/05/99 49% 99% 167% 103% 105% 119%
02/08/99 10.8125 41.4375 49.9375 43.3125 23 02/08/99 49% 101% 168% 103% 105% 119%
02/09/99 10.625 41.1875 50.4375 43.25 23 02/09/99 48% 100% 170% 103% 105% 120%
02/10/99 10.625 41.5625 49.8125 43.375 23.09375 02/10/99 48% 101% 168% 103% 106% 119%
02/11/99 10.375 41.875 48.5 42.9375 23 02/11/99 47% 102% 163% 102% 105% 118%
02/12/99 10.125 41.5625 49.25 42.125 23.125 02/12/99 46% 101% 166% 100% 106% 118%
02/16/99 9.9375 41.75 49.875 42.5625 22.25 02/16/99 45% 102% 168% 101% 102% 118%
02/17/99 9.9375 41.8125 46.8125 42.875 20.75 02/17/99 45% 102% 158% 102% 95% 114%
02/18/99 10 42.75 47.125 43 20.125 02/18/99 45% 104% 159% 102% 92% 114%
02/19/99 9.875 44.8125 47.625 43.5 20.125 02/19/99 45% 109% 161% 103% 92% 116%
02/22/99 9.6875 45.75 49.75 44.1875 20.375 02/22/99 44% 112% 168% 105% 93% 119%
02/23/99 9.375 45.375 48.75 44.125 20 02/23/99 42% 111% 164% 105% 91% 118%
02/24/99 9.375 44.5625 49.0625 44.0625 20 02/24/99 42.37% 109% 165% 105% 91% 117.52%
</TABLE>
Remember, as recently as September 2, 1998, GIX shares recently traded for as
low as $5 9/16. Ask yourself: where would GIX's stock price trade without WHX's
Offer on the table?
PROTECT YOUR INVESTMENT -- VOTE TODAY!
WHX, which owns approximately 9.9% of GIX, has a very substantial interest in
the company. While WHX believes that its Offer represents a significant premium
for GIX stockholders, it is committed to maximizing the value of GIX.
Consequently, WHX will not stand in the way of any superior offer for GIX. WHX
IS COMMITTED TO THE PROMPT SALE OR RESTRUCTURING OF GIX, SO THAT YOU RECEIVE
MAXIMUM VALUE FOR YOUR SHARES.
TO PROTECT AND ENHANCE THE VALUE OF YOUR INVESTMENT, I URGE YOU TO SIGN, DATE
AND RETURN THE ENCLOSED BLUE PROXY CARD TODAY.
IF YOU HAVE ANY QUESTIONS, OR NEED ASSISTANCE IN VOTING YOUR SHARES, PLEASE CALL
OUR PROXY SOLICITOR, INNISFREE M&A INCORPORATED, TOLL-FREE AT 888-750-5834.
Sincerely,
/s/ Ronald LaBow
- ----------------
Ronald LaBow
Chairman
