UNITED INVESTMENT COUNSEL
25-FEB-00 as of 12/31/99 PAGE 1
Item 1 Item 2 Item 3 Item 4 Item 5 Item 6 Inv D Item 9 Vtng Authr
Name of Issue Title or CCUSIP Mkt value Shares Sole Sole SharNone
AT&T CORP 195710 1,726,642 33,981X X
ABBOTT LABS 282410 3,242,552 89,297X X
AEGON N V ORD AMER REG 792410 257,086 2,692X X
AIR PRODS & CHEMS INC 915810 688,021 20,500X X
ALBERTSONS INC 1310410 530,190 16,440X X
ALLTEL CORP 2003910 868,130 10,499X X
AMERICA ONLINE INC DEL 02364J10 1,883,824 24,828X X
AMERICAN HOME PRODS COR2660910 890,896 22,698X X
AMERICAN INTL GROUP INC2687410 2,982,087 27,580X X
AMERICAN WTR WKS INC 3041110 1,665,893 78,395X X
ANHEUSER BUSCH COS INC 3522910 582,096 8,213X X
ATLANTIC RICHFIELD CO 4882510 792,686 9,164X X
AUTOMATIC DATA PROCESSI5301510 2,324,544 43,147X X
AVERY DENNISON CORP 5361110 1,224,300 16,800X X
BP AMOCO P L C SPO ADR 5562210 6,122,896 103,232X X
BANK OF AMERICA CORP 6050510 1,305,112 26,005X X
BANK NEW YORK INC 6405710 345,560 8,639X X
BANK ONE CORP 6423A10 1,726,112 53,941X X
BELL ATLANTIC CORP 7785310 4,484,976 72,853X X
BELLSOUTH CORP 7986010 1,483,565 31,692X X
BERNSTEIN SANFO INTL V 8556885 527,871 24,841X X
BOEING CO 9702310 697,964 16,844X X
BOSTON SCIENTIFIC COR 10113710 223,125 10,200X X
BRISTOL MYERS SQUIBB 11012210 7,032,263 109,559X X
BURLINGTON NORTHN CORP12189T10 2,707,027 111,630X X
BURLINGTON RES INC 12201410 383,122 11,588X X
CLECO CORP NEW 12561W10 1,587,069 49,500X X
CMGI INC 12575010 537,137 1,940X X
C S X CORP 12640810 762,726 24,310X X
CVS CORP 12665010 202,963 5,090X X
CAMPBELL SOUP CO 13442910 2,914,059 75,324X X
CAROLINA PWR & LT CO 14414110 435,370 14,304X X
CENTURYTEL INC 15670010 245,165 5,175X X
CHASE MANHATTAN CORP 16161A10 1,002,473 12,904X X
CHEVRON CORP 16675110 2,447,242 28,251X X
CISCO SYS INC 17275R10 8,639,417 80,648X X
CITIGROUP INC 17296710 1,769,732 31,780X X
COCA COLA CO 19121610 5,426,919 93,166X X
COLGATE PALMOLIVE CO 19416210 751,530 11,562X X
COMPAQ COMPUTER CORP 20449310 226,184 8,358X X
CONEXANT SYS INC 20714210 225,276 3,394X X
CONOCO INC CL B 20825140 224,198 9,013X X
CONSTELLATION ENERGY 21037110 408,958 14,102X X
CORNING INC 21935010 425,492 3,300X X
DII GROUP INC 23294910 248,388 3,500X X
D P L INC 23329310 568,145 32,818X X
DQE INC 23329J10 291,611 8,422X X
DAYTON HUDSON CORP 23975310 266,355 3,627X X
DELL COMPUTER CORP 24702510 1,268,574 24,874X X
DISNEY WALT HLDG CORP 25468710 4,148,761 141,838X X
UNITED INVESTMENT COUNSEL
25-FEB-00 as of 12/31/99 PAGE 2
Item 1 Item 2 Item 3 Item 4 Item 5 Item 6 Inv D Item Item 9 Vtng Authr
Name of Issue Title or CCUSIP Mkt value Shares Sole Sole SharNone
DOLLAR GEN CORP 25666910 899,330 39,531X X
DOVER CORP 26000310 790,024 17,411X X
DU PONT E I DE NEMOURS 26353410 6,537,764 99,245X X
DUKE ENERGY CORP 26439910 2,610,860 52,087X X
E M C CORP MASS 26864810 3,166,065 28,980X X
EL PASO ENERGY CORP DE 28390510 539,409 13,898X X
EMERSON ELEC CO 29101110 3,360,683 58,574X X
EQUIFAX INC 29442910 1,360,658 57,748X X
EQUITY OFFICE PPTYS TR 29474110 216,847 8,806X X
EXXON MOBIL CORP 30231G10 12,368,039 153,522X X
F P L GROUP INC 30257110 304,564 7,114X X
FIDELITY EQUITY-INCOME 31613810 333,019 6,227X X
FIDELITY FD INC 31615310 399,511 9,376X X
FIDELITY MAGELLAN FD I 31618410 215,738 1,579X X
FIDELITY SECS FD BLUE 31638930 314,194 5,227X X
FIFTH THIRD BANCORP 31677310 310,302 4,229X X
FIRST UN CORP 33735810 640,921 19,459X X
FIRSTAR CORP NEW WIS 33763V10 519,696 24,601X X
FLEETBOSTON FINL CORP 33903010 694,882 19,961X X
FORD MTR CO DEL 34537010 745,141 13,977X X
FRANKLIN CALIF TAX FRE 35251810 162,071 24,082X X
G T E CORP 36232010 6,963,552 98,687X X
GENERAL ELECTRIC CO 36960410 22,937,045 148,220X X
GILLETTE CO 37576610 1,523,054 36,979X X
HANNAFORD BROS CO 41055010 309,547 4,466X X
HEINZ H J CO 42307410 3,056,765 76,780X X
HEWLETT PACKARD CO 42823610 3,672,191 32,283X X
HOME DEPOT INC 43707610 1,321,100 19,216X X
HONEYWELL INTL INC 43851610 344,737 5,976X X
INTEL CORP 45814010 4,103,747 49,856X X
INTERNATIONAL BUSINESS 45920010 3,997,416 37,056X X
INTERPUBLIC GROUP COS 46069010 853,825 14,801X X
IPALCO ENTERPRISES INC 46261310 174,032 10,200X X
I2 TECHNOLOGIES INC 46575410 292,500 1,500X X
JANUS FD INC 47102310 373,235 8,473X X
JOHNSON & JOHNSON 47816010 5,521,052 59,207X X
KEYCORP NEW 49326710 1,949,478 88,112X X
KIMBERLY CLARK CORP 49436810 219,868 3,360X X
LG&E ENERGY CORP 50191710 254,580 14,600X X
LILLY ELI & CO 53245710 950,950 14,300X X
LUCENT TECHNOLOGIES IN 54946310 10,377,150 138,362X X
MCI WORLDCOM INC 55268B10 2,484,203 46,817X X
MANNESMANN A G SP ADR 56377530 244,000 1,000X X
MARRIOTT INTL CL A 57190320 1,129,919 35,800X X
MCCORMICK NON-VTG 57978020 246,925 8,300X X
MEDIAONE GROUP INC 58440J10 324,453 4,224X X
MEDTRONIC INC 58505510 339,811 9,326X X
MERCK & CO INC 58933110 9,692,127 144,256X X
MERRILL LYNCH FUNDAMEN 58995820 298,835 12,133X X
MICROSOFT CORP 59491810 14,170,648 121,376X X
UNITED INVESTMENT COUNSEL
25-FEB-00 as of 12/31/99 PAGE 3
Item 1 Item 2 Item 3 Item 4 Item 5 Item 6 Inv D Item 9 Vtng Authr
Name of Issue Title or CCUSIP Mkt value Shares Sole Sole SharNone
MINNESOTA MNG & MFG CO 60405910 790,438 8,076X X
MORGAN J P & CO INC 61688010 831,546 6,567X X
MOTOROLA INC 62007610 957,125 6,500X X
NEW ENGLAND ELEC SYS 64400110 633,627 12,244X X
NISOURCE INC 65473P10 1,559,325 87,235X X
NORFOLK SOUTHN CORP 65584410 485,337 23,675X X
NORTHERN STS PWR CO MN 66577210 572,266 29,347X X
OMNICOM GROUP 68191910 200,000 2,000X X
ORACLE CORP 68389X10 885,289 7,900X X
PEPSICO INC 71344810 2,409,549 68,356X X
PFIZER INC 71708110 2,487,593 76,690X X
PHILIP MORRIS COS INC 71815410 201,250 8,750X X
PITNEY BOWES INC 72447910 1,019,383 21,100X X
POTOMAC ELEC PWR CO 73767910 327,999 14,300X X
PROCTER & GAMBLE CO 74271810 5,347,063 48,804X X
PROVIDIAN FINL CORP 74406A10 2,126,297 23,350X X
QWEST COMMUNICATIONS I 74912110 322,500 7,500X X
RAYTHEON CO NEW CL B 75511140 421,406 15,865X X
REALNETWORKS INC 75605L10 348,904 2,900X X
REGIONS FINL CORP 75894010 3,265,923 129,987X X
ROWE T PRICE SCI TECHN 77957M10 335,560 5,267X X
ROYAL DUTCH PETE CO NY 78025780 2,349,078 38,788X X
SBC COMMUNICATIONS INC 78387G10 3,069,982 62,974X X
SARA LEE CORP 80311110 289,012 13,100X X
SCHERING PLOUGH CORP 80660510 1,585,164 37,408X X
SCHLUMBERGER LTD 80685710 261,374 4,657X X
SCOTTISH PWR PLC SPONS 81013T70 1,595,944 56,998X X
SOUTHERN CO 84258710 1,540,096 65,536X X
SPRINT CORP 85206110 632,126 9,391X X
STAPLES INC 85503010 458,056 22,075X X
STATE STR CORP 85747710 252,063 3,450X X
SUN MICROSYSTEMS INC 86681010 2,464,045 31,820X X
SUNTRUST BKS INC 86791410 271,325 3,943X X
SYSCO CORP 87182910 787,283 19,900X X
TECO ENERGY INC 87237510 1,649,475 88,863X X
TELLABS INC 87966410 526,333 8,200X X
TYCO INTL LTD NEW 90212410 260,286 6,674X X
US BANCORP DEL 90297310 205,283 8,621X X
UNION PACIFIC CORP 90781810 2,830,699 64,795X X
U S WEST INC NEW 91273H10 293,544 4,077X X
VANGUARD BD INDEX FD I 92193750 333,720 34,908X X
VANGUARD MUN BD FD INC 92290720 128,951 10,098X X
VANGUARD MUN BD FD INC 92290740 103,000 10,259X X
VODAFONE AIRTOUCH PLC 92857T10 1,216,215 24,570X X
WACHOVIA CORP 92977110 483,752 7,114X X
WAL-MART STORES INC 93114210 776,965 11,240X X
WALGREEN CO 93142210 2,388,116 81,645X X
WASHINGTON MUT INC 93932210 216,030 8,349X X
WEINGARTEN RLTY INVS 94874110 656,945 16,872X X
WELLS FARGO & CO 94974610 2,582,468 63,864X X
UNITED INVESTMENT COUNSEL
25-FEB-00 as of 12/31/99 PAGE 4
Item 1 Item 2 Item 3 Item 4 Item 5 Item 6 Inv DItem Item 9 Vtng Authr
Name of Issue Title or CCUSIP Mkt value Shares Sole Sole SharNone
WILLIAMS COS INC 96945710 460,080 15,054X X
WILMINGTON TR CORP 97180710 279,850 5,800X X
WISCONSIN ENERGY CORP 97665710 342,226 17,778X X
YAHOO INC 98433210 519,224 1,200X X
$273,675,837
