Rule 424(b)(3) Supplement, dated November 2, 1994
to Prospectus, dated April 22, 1987,
for inclusion within Post-Effective Amendment No. 5 to
Registration Statement No. 2-58540
1. The statement on page 3 of the Prospectus under the heading
"Highlights of the Plan", relating to the Plan's relationship to
ERISA, is restated as follows:
The Plan is not subject to Parts 2, 3 and 4 of Title I of
the Employee Retirement Income Security Act of 1974.
2. The sixth paragraph on page 4 of the Prospectus under the
heading "Stock Account Mode" is amended by adding the following
text:
In October 1994, CBS effected a 5-for-1 split of its common
stock by paying a stock dividend of four new shares on each
share of CBS Stock outstanding on October 3, 1994. Such
dividend was paid on October 18, 1994, and CBS Stock commenced
trading ex-dividend on October 19, 1994. Accordingly, the
number of shares of CBS Stock reflected in each participant's
Stock Account was adjusted on a 5-for-1 basis and, effective
the ex-dividend date, the "Fair Market Value" of each share of
CBS Stock was adjusted to reflect such additional number of
outstanding shares.
3. The language on page 8 of the Prospectus under the heading
"Taxes" is restated as follows:
Alvan L. Bobrow, Vice President and Director of Taxes of
CBS, has advised that under existing Federal tax laws the cash
payments to participants and the fair market value (for Federal
income tax purposes) of shares distributed to them will
constitute wages subject to Federal income tax withholding, and
CBS will obtain an income tax deduction at the same time and in
an amount equal to the payments included in participants' gross
income. Subject to future IRS interpretation, deferred amounts
will constitute wages for FICA tax purposes upon the later of:
(i) when the services are performed, or (ii) when the
participant either attains age 60, completes 15 years of
service, dies, becomes disabled, or retires under a
CBS-sponsored pension plan.
- 1 -
<PAGE>
In addition, for State and local income tax purposes, these
distributions are treated as wages subject to withholding by
the State and/or City where the participant performed services
for CBS (or where the participant lived while performing the
services).
The Plan is not qualified under Section 401(a) of the
Internal Revenue Code.
Beginning in 1994, there will no longer be a ceiling on the
amount of FICA wages subject to the 1.45% FICA tax. Amounts
that constituted wages for FICA tax purposes prior to 1994
under the special FICA timing rules described above will not be
subject to FICA tax in 1994 or later years. In such cases,
where the Plan participant attained age 60, completed 15 years
of service, died, became disabled, or retired under a
CBS-sponsored pension plan before 1994, FICA taxes will apply
to additional contributions made after 1993 which were not
previously taxed.
4. The Appendix set forth on Page 10 of the Prospectus is
restated as follows:
APPENDIX
to
CBS DEFERRED ADDITIONAL COMPENSATION PLAN PROSPECTUS
Comparison of Investment Modes
Stock Data
The principal market for CBS Stock is the New York Stock
Exchange. The following table indicates the high and low prices
for CBS Stock as reported in the composite transactions
quotations of consolidated trading for issues on the New York
Stock Exchange during the indicated periods. As noted above, a
5-for-1 stock split was concluded on October 18, 1994.
- 2 - <PAGE>
Interest Credit Account Mode Stock Account Mode
CBS Stock
Annual Interest Credit Rate
(compounded quarterly) High Low Dividend
1994 Oct. 1-Dec. 31 5.53% $ 72.188(1) $ 50.656(1) $1.60(2)
Jan. 1-Sept. 30 3.35%
1993 Oct. 1-Dec. 31 3.35% 326.500 186.125 1.25
Jan. 1-Sept. 30 3.45%
1992 Oct. 1-Dec. 31 3.45% 220.50 136.00 1.00
Jan. 1-Sept. 30 5.70%
1991 Oct. 1-Dec. 31 5.70% 188.375 128.125 1.00
Jan. 1-Sept. 30 7.79%
1990 Oct. 1-Dec. 31 7.79% 206.25 151.50 4.40
Jan. 1-Sept. 30 8.32%
_________
(1) 1994 CBS Stock prices are for the period January 1 through
October 31 and are reported on a post-split basis although the
stock split was effective at the close of business on October 18,
1994. The closing price of CBS Stock on October 31, 1994 was
$59.875.
(2) The 1994 dividend includes $0.50 per share per quarter for
the first, second and third quarters and $0.10 per share for the
fourth quarter, payable December 12, 1994. (The fourth quarter
dividend reflects the 5-for-1 stock split and a corresponding
cash dividend adjustment.)
<PAGE>
