<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----------------------
FORM 11-K
-----------------------
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended June 30, 1999
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from _______ to _______
Commission file number 1-15139
A. Full title of the plan and the address of the plan, if different from
that of the issuer named below:
Lanier Worldwide, Inc. Save To Accumulate Retirement $ (STAR$)
Plan, formerly Lanier Worldwide, Inc. Savings Incentive Plan(1)
B. Name of issuer of the securities held pursuant to the plan and the
address of its principal executive office:
Harris Corporation
1026 West NASA Boulevard
Melbourne, Florida 32919(2)
- --------
(1) On November 30, 1999, the Lanier Worldwide, Inc. Board of Directors amended
the Lanier Worldwide, Inc. Savings Incentive Plan and renamed the amended plan
the Lanier Worldwide, Inc. Save to Accumulate Retirement $ (STAR$) Plan.
(2) The issuer of securities held pursuant to the Plan as of June 30, 1999. On
November 5, 1999, upon completion of the spin-off described under "Explanatory
Note" herein, Lanier Worldwide, Inc. became the issuer of some of the
securities held pursuant to the Plan.
<PAGE> 2
EXPLANATORY NOTE
This filing is made by Lanier Worldwide, Inc. Save To Accumulate Retirement
$ (STAR$) Plan ("Registrant").
The Registrant is a plan for the benefit of employees of Lanier Worldwide,
Inc. ("Lanier"). As of June 30, 1999, the last day of the fiscal year to which
this report relates, Lanier was a subsidiary of Harris Corporation ("Harris").
On October 22, 1999, the Harris board of directors declared a distribution of
Lanier shares with respect to the outstanding shares of Harris, effective
November 5, 1999, thereby effecting a "spin-off" of Lanier.
<PAGE> 3
LANIER WORLDWIDE, INC.
SAVE TO ACCUMULATE RETIREMENT $ (STAR$) PLAN
(FORMERLY, LANIER WORLDWIDE, INC. SAVINGS INCENTIVE PLAN)
Financial Statements
and Supplementary Information
June 30, 1999
<PAGE> 4
LANIER WORLDWIDE, INC. SAVE TO ACCUMULATE RETIREMENT $ (STAR$) PLAN
(FORMERLY, LANIER WORLDWIDE, INC. SAVINGS INCENTIVE PLAN)
Table of Contents
<TABLE>
<CAPTION>
June 30, 1999 PAGE
- --------------------------------------------------------------------------------------------------------------------
<S> <C>
INDEPENDENT AUDITOR'S REPORT................................................................................1
FINANCIAL STATEMENTS:
Statements of Net Assets Available for Benefits...........................................................3
Statement of Changes in Net Assets Available for Benefits With Fund Information...........................4-5
Notes to Financial Statements.............................................................................6-9
SUPPLEMENTAL INFORMATION:
Schedule of Assets Held for Investment Purposes..........................................................11
Schedule of Reportable Transactions......................................................................12
</TABLE>
<PAGE> 5
INDEPENDENT AUDITOR'S REPORT
Pension and Retirement Committee
Lanier Worldwide, Inc. Savings Incentive Plan
Melbourne, Florida
We have audited the accompanying statements of net assets available for
benefits of the Lanier Worldwide, Inc. Savings Incentive Plan as of June
30, 1999 and 1998, and the related statement of changes in net assets
available for benefits with fund information for the year ended June 30,
1999. 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 in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audits 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. An audit also includes assessing the accounting principles used
and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly,
in all material respects, the net assets available for benefits of the Plan
at June 30, 1999 and 1998, and the changes in its net assets available for
benefits for the year ended June 30, 1999 in conformity with generally
accepted accounting principles.
Our audit was made for the purpose of forming an opinion on the financial
statements taken as a whole. The accompanying supplemental schedules
contained on pages 11 and 12 as of and for the year ended June 30, 1999 are
presented for purposes of complying with the Department of Labor's Rules
and Regulations for Reporting and Disclosure under the Employee Retirement
Income Security Act of 1974, and are not a required part of the financial
statements. The supplemental schedules have been subjected to the auditing
procedures applied in our audit of the 1999 financial statements and, in
our opinion, are fairly stated in all material respects in relation to the
1999 financial statements taken as a whole.
/s/ Bray, Beck, & Koetter, CPAs, PA
-----------------------------------
August 31, 1999, except for Note 7, as to which the date is November 5,
1999
Melbourne, Florida
1
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<PAGE> 6
FINANCIAL STATEMENTS
<PAGE> 7
LANIER WORLDWIDE, INC. SAVE TO ACCUMULATE RETIREMENT $ (STAR$) PLAN
(FORMERLY, LANIER WORLDWIDE, INC. SAVINGS INCENTIVE PLAN)
Statements of Net Assets Available for Benefits
June 30, 1999 and 1998
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
1999 1998
------------ ------------
ASSETS
<S> <C> <C>
INVESTMENTS, AT FAIR VALUE (NOTE 4):
Registered investment companies:
T. Rowe Price Summit Cash Reserves Fund $ 20,125,212 $ 16,665,234
T. Rowe Price Equity Index 500 Fund 81,713,385 65,929,024
T. Rowe Price Short Term Bond Fund 3,337,890 2,076,858
T. Rowe Price New America Growth Fund 36,836,658 36,898,829
T. Rowe Price Balanced Fund 14,787,907 13,388,325
T. Rowe Price International Stock Fund 5,098,331 4,721,267
Harris Corporation common stock 4,581,272 3,192,571
Participant loans 6,573,298 6,257,885
------------ ------------
Total investments 173,053,953 149,129,993
RECEIVABLES:
Employer contributions 103,574 145,331
Employee contributions 275,689 398,794
------------ ------------
Total receivables 379,263 544,125
LIABILITIES -- --
------------ ------------
NET ASSETS AVAILABLE FOR BENEFITS $173,433,216 $149,674,118
============ ============
</TABLE>
See accompanying notes to financial statements. 3
- -------------------------------------------------------------------------------
<PAGE> 8
LANIER WORLDWIDE, INC. SAVE TO ACCUMULATE RETIREMENT $ (STAR$) PLAN
(FORMERLY, LANIER WORLDWIDE, INC. SAVINGS INCENTIVE PLAN)
Statement of Changes in Net Assets Available for Benefits With Fund Information
Year Ended June 30, 1999
- -------------------------------------------------------------------------------
<TABLE>
<CAPTION>
T. Rowe Price T. Rowe Price T. Rowe Price
Summit Cash Equity Index Short Term
Reserves Fund 500 Fund Bond Fund
-------------- ------------- --------------
INCREASES:
<S> <C> <C> <C>
Investment income $ 909,996 $ 1,128,966 $ 157,279
Contributions from employer 613,126 1,347,116 102,207
Contributions from employees 1,342,479 4,508,821 343,357
-------------- ----------- -----------
2,865,601 6,984,903 602,843
Net transfers between funds 4,343,601 205,190 973,488
DECREASES:
Benefits paid directly to participants 3,783,601 4,867,415 271,023
Administrative expenses 1,017 281 343
-------------- ----------- -----------
3,784,618 4,867,696 271,366
NET APPRECIATION (DEPRECIATION) IN FAIR VALUE OF
INVESTMENTS (NOTE 4) -- 13,417,259 (53,002)
-------------- ----------- -----------
Net increase in net assets available for benefits 3,424,584 15,739,656 1,251,963
NET ASSETS AVAILABLE FOR BENEFITS:
Beginning of year 16,721,434 66,098,133 2,090,756
-------------- ----------- -----------
END OF YEAR $ 20,146,018 $81,837,789 $ 3,342,719
============== =========== ===========
</TABLE>
See accompanying notes to financial statements. 4
- -------------------------------------------------------------------------------
<PAGE> 9
<TABLE>
<CAPTION>
T. Rowe Price T. Rowe Price T. Rowe Price
New America Balanced International Harris Loan
Growth Fund Fund Stock Fund Stock Fund Fund Total
- ------------- ------------- -------------- ------------ ----------- ------------
<S> <C> <C> <C> <C> <C>
$ 2,690,929 $ 425,875 $ 174,581 $ 92,712 $ 535,313 $ 6,115,651
1,192,836 441,292 225,177 969,014 -- 4,890,768
4,064,869 1,437,944 819,304 934,749 -- 13,451,523
- ------------ ------------ ----------- ----------- ---------- ------------
7,948,634 2,305,111 1,219,062 1,996,475 535,313 24,457,942
(4,897,694) (689,499) (534,109) (2,894) 601,917 --
4,258,669 1,268,459 425,648 376,306 821,817 16,072,938
3,416 1,316 611 9 -- 6,993
- ------------ ------------ ----------- ----------- ---------- ------------
4,262,085 1,269,775 426,259 376,315 821,817 16,079,931
1,118,207 1,025,172 109,918 (236,467) -- 15,381,087
- ------------ ------------ ----------- ----------- ---------- ------------
(92,938) 1,371,009 368,612 1,380,799 315,413 23,759,098
37,056,127 13,447,270 4,754,008 3,248,505 6,257,885 149,674,118
- ------------ ------------ ----------- ----------- ---------- ------------
$ 36,963,189 $ 14,818,279 $ 5,122,620 $ 4,629,304 $6,573,298 $173,433,216
============ ============ =========== =========== ========== ============
</TABLE>
5
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<PAGE> 10
LANIER WORLDWIDE, INC. SAVE TO ACCUMULATE RETIREMENT $ (STAR$) PLAN
(FORMERLY, LANIER WORLDWIDE, INC. SAVINGS INCENTIVE PLAN)
Notes to Financial Statements
June 30, 1999
- -------------------------------------------------------------------------------
1. DESCRIPTION OF THE PLAN
The following description of the Lanier Worldwide, Inc. Savings Incentive
Plan ("Plan") provides only general information. Participants should refer
to the Plan document for a more complete description of the Plan's
provisions.
General
The Lanier Worldwide, Inc. Savings Incentive Plan (the "Plan") is a defined
contribution plan available to substantially all permanent employees of
Lanier Worldwide, Inc. ("the Company and Sponsor"). It is subject to the
provisions of the Employee Retirement Income Security Act of 1974 (ERISA).
Lanier Worldwide, Inc. is a wholly owned subsidiary of Harris Corporation.
Contributions
Participants can contribute up to 15% of their salary in 1% increments.
Upon the later of completion of one year of service or attainment of age
21, the Company matches 50% of the participant's contribution up to a
maximum of 6% of compensation.
Payment of Benefits
Distributions from the Plan may be made only in the event of death,
disability or termination of employment.
Participant Loans
Participants may borrow against the vested portion of their accounts from a
minimum of $500 up to a maximum of $50,000 or 50% of the vested portion of
a participant's account, whichever is less. Loans made under the Plan range
up to five years.
Vesting and Forfeitures
All participants' contributions and earnings thereon are 100% vested.
Company contributions to participants' accounts vest 20% per year of
service, until a participant becomes fully vested after five years of
service. Company contributions become fully vested regardless of years of
service upon retirement, total and permanent disability or upon death of
the participant. Forfeitures of terminated participants' nonvested accounts
reduce the matching contributions of the Company.
Plan Termination
Under provisions of the Plan, the Company reserves the right to amend or
terminate the Plan at any time. If the plan is terminated, each
participant's account will become fully vested.
Investment Options
Participants may allocate contributions among six T. Rowe Price Mutual
Funds and the Harris Stock Fund. Participant contributions to the Harris
Stock Fund are limited to 1% of compensation. Shares of Harris Corporation
common stock are purchased or contributed by the Company at a discount
established from time to time by the Company. Amounts may not be
transferred from other funds to the Harris Stock Fund. Contributions must
remain in the fund for a minimum of 36 months.
T. Rowe Price Retirement Plan Services, Inc. ("T. Rowe Price") is the
Plan's Trustee, record keeper, and investment manager.
6
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<PAGE> 11
LANIER WORLDWIDE, INC. SAVE TO ACCUMULATE RETIREMENT $ (STAR$) PLAN
(FORMERLY, LANIER WORLDWIDE, INC. SAVINGS INCENTIVE PLAN)
Notes to Financial Statements
June 30, 1999
- -------------------------------------------------------------------------------
2. SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting
The accounting records of the Plan are maintained on the accrual basis.
Use of Estimates
The preparation of financial statements in conformity with generally
accepted accounting principles requires use of estimates regarding certain
types of assets, liabilities, revenues and expenses. Such estimates relate
primarily to unsettled transactions and events as of the date of the
financial statements. Accordingly, upon settlement, actual results may
differ from estimated amounts.
Investment Valuation and Income Recognition
Investments in securities are stated at fair value as determined by quoted
market prices as of the close of business on the last day of the plan year.
Investments for which a quoted market value is not available are stated at
fair values reported by the trustee or investee company. Participant loans
are stated at cost.
The net appreciation (depreciation) in fair value of investments reflected
in the statements of changes in net assets available for plan benefits
represents the sum of the unrealized appreciation or depreciation in the
aggregate fair value of investments and the realized gain or loss on the
sale of investments.
Administrative Expenses
Unless otherwise elected by the Company, all ordinary and extraordinary
charges and expenses incurred by the Trustee in connection with the
administration of the Plan are paid by the Trustee from the assets of the
Plan. Administrative expenses, which consist of Trustee, record keeping and
investment manager fees and commissions paid to T. Rowe Price, were paid by
the Plan.
Payment of Benefits
Benefits are recorded when paid.
3. INCOME TAX STATUS
The Plan obtained its latest determination letter on April 30 1999, in
which the Internal Revenue Service stated that the Plan, as then designed,
was in compliance with the applicable requirements of the Internal Revenue
Code. The Plan has been amended since that date. However, the Plan
administrator and the Plan's tax counsel believe that the Plan is currently
designed and being operated in compliance with the applicable requirements
of the Internal Revenue Code. Therefore, they believe that the Plan was
qualified and the related trust was tax-exempt as of the financial
statement date.
7
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<PAGE> 12
LANIER WORLDWIDE, INC. SAVE TO ACCUMULATE RETIREMENT $ (STAR$) PLAN
(FORMERLY, LANIER WORLDWIDE, INC. SAVINGS INCENTIVE PLAN)
Notes to Financial Statements
June 30, 1999
- -------------------------------------------------------------------------------
4. INVESTMENTS
At June 30, 1999 and 1998, investments with a fair value representing 5% or
more of the Plan's net assets were as follows:
<TABLE>
<CAPTION>
1999
-----------
<S> <C>
T. Rowe Price Summit Cash Reserves Fund $20,125,212
T. Rowe Price Equity Index 500 Fund 81,713,385
T. Rowe Price New America Growth Fund 36,836,658
T. Rowe Price Balanced Fund 14,787,907
1998
-----------
T. Rowe Price Summit Cash Reserves Fund $16,665,234
T. Rowe Price Equity Index 500 Fund 65,929,024
T. Rowe Price New America Growth Fund 36,898,829
T. Rowe Price Balanced Fund 13,388,325
</TABLE>
During the year ended June 30, 1999, the Plan's investments (including
investments bought and sold as well as held during the year) appreciated
(depreciated) in fair value by $15,381,087 as follows:
<TABLE>
<CAPTION>
Net Appreciation
(Depreciation) in
Fair Value
-----------------
<S> <C>
Fair value as determined by quoted market price:
T. Rowe Price Equity Index 500 Fund $ 13,417,259
T. Rowe Price Short-Term Bond Fund (53,002)
T. Rowe Price New America Growth Fund 1,118,207
T. Rowe Price Balanced Fund 1,025,172
T. Rowe Price International Stock Fund 109,918
Harris Stock Fund (236,467)
</TABLE>
5. TRANSACTIONS WITH PARTIES-IN-INTEREST
Under Department of Labor regulations for reporting and disclosure, an
employee benefit plan such as the Lanier Worldwide, Inc. Savings Incentive
Plan is required to report investment transactions and compensation paid to
parties-in-interest.
The term "party-in-interest" is broadly defined, but would include Lanier
Worldwide, Inc.; Harris Corporation, Lanier Worldwide, Inc.'s parent
company; T. Rowe Price (Note 2) and any person or corporation that renders
services to the Plan. At June 30, 1999 the Plan held 116,906 shares of
Harris Corporation common stock. All other investments were held in T. Rowe
Price mutual funds.
6. YEAR 2000 ISSUE (UNAUDITED)
Certain software and hardware systems are time-sensitive. Older
time-sensitive systems often use a two-digit dating convention (e.g., "00"
rather than "2000") that could result in system failure and disruption of
operations as the year 2000 approaches. The Year 2000 problem will impact
the Plan Sponsor, the trustee and recordkeeper, as well as their vendors
and suppliers. Lanier Worldwide, Inc. (the "Company") had determined the
need to replace its payroll system in 1997. The payroll system was replaced
in fiscal year 1998 and in the second half of 1999 will be made compliant
with regard to the remaining Year 2000 issues. No other Year 2000 issues
for internal systems were identified. The Company has also initiated
communications with suppliers and
8
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<PAGE> 13
LANIER WORLDWIDE, INC. SAVE TO ACCUMULATE RETIREMENT $ (STAR$) PLAN
(FORMERLY, LANIER WORLDWIDE, INC. SAVINGS INCENTIVE PLAN)
Notes to Financial Statements
June 30, 1999
- -------------------------------------------------------------------------------
other relevant third parties to identify and minimize Year 2000 related
disruptions to the Company's systems. The Company believes that it has or
will have corrected all Savings Incentive Plan Year 2000 concerns by
December 1999. However, there can be no certainty that the systems and
products of other companies on which the Company and Plan relies will not
have an adverse effect on the Company's or Plan's operations.
7. SUBSEQUENT EVENT
On November 5, 1999 Harris Corporation distributed one share of Lanier
Worldwide, Inc. common stock for each share of Harris Corporation common
stock owned to shareholders of record on November 1, 1999. Effective with
the spin-off, the Harris Stock Fund investment option is no longer
available and the Plan began offering a Lanier stock investment option.
Participant contributions to the Lanier Stock Fund are limited to 1% of
compensation. Shares of Lanier Worldwide, Inc. common stock are purchased
or contributed by the Company at a discount established from time to time
by the Company. Amounts contributed to the Lanier Stock Fund must remain in
the fund for a minimum of 36 months. Shares of Harris Corporation common
stock held in participants' accounts can be retained or sold, with the
proceeds used to purchase Lanier stock or any of the mutual fund investment
options. The foregoing changes to the Plan will be reflected in the amended
and restated plan document that is currently being drafted.
9
- -------------------------------------------------------------------------------
<PAGE> 14
SUPPLEMENTAL INFORMATION
<PAGE> 15
<TABLE>
<S> <C> <C>
SCHEDULE G FINANCIAL SCHEDULES OMB No. 1210-0016
(FORM 5500) This schedule may be filed as an attachment to the -----------------------
Department of the Treasury Annual Return/Report Form 5500 under Section 104 1998
Internal Revenue Service of the Employee Retirement Income Security Act of 1974, -----------------------
______________ referred to as ERISA. This Form is Open
Department of Labor See the instructions for item 27 of the Form 5500. to Public Inspection
Pension and Welfare
Benefits Administration > Attach to Form 5500
- ----------------------------------------------------------------------------------------------------------------------------------
For calendar plan year 1998 or fiscal plan year beginning JULY 1 , 1998, and ending JUNE 30 , 1999
- ----------------------------------------------------------------------------------------------------------------------------------
Name of plan sponsor as shown on line 1a of Form 5500 Employer identification number
Lanier Worldwide, Inc. 59-0778222
- ----------------------------------------------------------------------------------------------------------------------------------
Name of plan Three-digit
Lanier Worldwide, Inc. Savings Incentive Plan plan number > 001
- ----------------------------------------------------------------------------------------------------------------------------------
Part I SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES - SEE FORM 5500, ITEM 27A.
- ----------------------------------------------------------------------------------------------------------------------------------
(b) (c) (d) (e)
(a) Identity of issuer, borrower, lessor, or Description of investment including Cost Current value
similar party maturity date,
rate of interest, collateral, par
or maturity value
- ----------------------------------------------------------------------------------------------------------------------------------
Participant Loan 0.0650/0.0950 6,573,298
- --------- ------------------------------------------- ------------------------------------- ------------------- ------------------
Harris Stock Fund Restricted Company Stock 4,556,419 4,401,306
- --------- ------------------------------------------- ------------------------------------- ------------------- ------------------
Harris Stock Fund Unrestricted Company Stock 174,409 179,966
- --------- ------------------------------------------- ------------------------------------- ------------------- ------------------
International Stock Fund Mutual Fund 4,570,115 5,098,331
- --------- ------------------------------------------- ------------------------------------- ------------------- ------------------
Equity Index 500 Fund Mutual Fund 43,624,977 81,713,385
- --------- ------------------------------------------- ------------------------------------- ------------------- ------------------
Short-Term Bond Fund Mutual Fund 3,409,799 3,337,890
- --------- ------------------------------------------- ------------------------------------- ------------------- ------------------
New American Growth Fund Mutual Fund 27,188,181 36,836,658
- --------- ------------------------------------------- ------------------------------------- ------------------- ------------------
Balanced Fund Mutual Fund 11,436,841 14,787,907
- --------- ------------------------------------------- ------------------------------------- ------------------- ------------------
Summit Cash Reserves Mutual Fund 20,125,212 20,125,212
- --------- ------------------------------------------- ------------------------------------- ------------------- ------------------
- --------- ------------------------------------------- ------------------------------------- ------------------- ------------------
- --------- ------------------------------------------- ------------------------------------- ------------------- ------------------
- --------- ------------------------------------------- ------------------------------------- ------------------- ------------------
- --------- ------------------------------------------- ------------------------------------- ------------------- ------------------
- --------- ------------------------------------------- ------------------------------------- ------------------- ------------------
- --------- ------------------------------------------- ------------------------------------- ------------------- ------------------
- --------- ------------------------------------------- ------------------------------------- ------------------- ------------------
FOR PAPERWORK REDUCTION ACT NOTICE, SEE THE INSTRUCTIONS FOR FORM 5500. SCHEDULE G (FORM 5500) 1998
</TABLE>
11
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<PAGE> 16
<TABLE>
<CAPTION>
Schedule G (Form 5500) 1998
<S> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------------------------------------
PART IV SCHEDULE OF LEASES IN DEFAULT OR CLASSIFIED AS UNCOLLECTIBLE--SEE FORM 5500, ITEM 27C.
- ---------------------------------------------------------------------------------------------------------------------------------
(d)
Terms and description
(type of property,
(c) location and date it was
Relationship to purchased, terms (g) (h)
plan, employer, regarding rent, taxes, (f) Gross Expenses (j)
(b) employee, insurance, repairs, (e) Current rental paid (i) Amounts
(a) Identity organization, expenses, renewal Original value at receipts during Net in
of or other options, date property cost time of during the receipts arrears
lessor/lessee party-in-interest was leased) lease the plan year plan year
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
PART V SCHEDULE OF REPORTABLE TRANSACTIONS--SEE FORM 5500, LINE 27D.
- ---------------------------------------------------------------------------------------------------------------------------------
(a) (b) (f) (h)
Identity of Description of (c) (d) (e) Expense (g) Current (i)
party involved asset (include Purchase Selling Lease incurred Cost of value of Net gain
interest rate and price price rental with asset asset on or (loss)
maturity in case transaction transaction
of a loan) date
- ---------------------------------------------------------------------------------------------------------------------------------
EXF Mutual Fund 11,813,806 11,813,806 11,814,122 316
- ---------------------------------------------------------------------------------------------------------------------------------
EXF Mutual Fund (6,593,225) (9,446,575) (6,593,225) (9,446,575) 2,853,350
- ---------------------------------------------------------------------------------------------------------------------------------
NAG Mutual Fund 8,926,979 8,926,979 8,926,979
- ---------------------------------------------------------------------------------------------------------------------------------
NAG Mutual Fund (8,347,293) (10,107,307) (8,347,293) (10,107,307) 1,760,014
- ---------------------------------------------------------------------------------------------------------------------------------
SCR Mutual Fund 11,978,095 11,978,095 11,978,095
- ---------------------------------------------------------------------------------------------------------------------------------
SCR Mutual Fund (8,518,117) (8,518,117) (8,518,177) (8,518,177) 0
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
12
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<PAGE> 17
SIGNATURES
The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934,
the trustees (or other persons who administer the employee benefit plan) have
duly caused this annual report to be signed on their behalf by the undersigned
hereunto duly authorized.
LANIER WORLDWIDE, INC. SAVE TO
ACCUMULATE RETIREMENT $ (STAR$) PLAN
By: Lanier Worldwide, Inc.
----------------------------------
Plan Administrator
By: /s/ J. Michael Kelly
---------------------------
J. Michael Kelly
General Counsel
Date: January 7, 2000
----------------------
<PAGE> 1
EXHIBIT 23
CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
We consent to the incorporation by reference in this Annual Report (Form 11-K)
for the year ended June 30, 1999 and in the following registration statement
of the Lanier Worldwide, Inc. Savings Incentive Plan of our report dated August
31, 1999, with respect to the financial statements of the Lanier Worldwide,
Inc. Savings Incentive Plan included in this Annual Report (Form 11-K) for the
year ended June 30, 1999.
Form S-8 NO. 33-01747 Lanier Worldwide, Inc. Savings Incentive Plan
/s/ Bray, Beck & Koetter, CPAs, PA
-----------------------------------------
Bray, Beck & Koetter
Date: 01/07/2000
