<PAGE>1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 1)
Under the Securities Exchange Act of 1934
The Diana Corporation
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(Name of Issuer)
Common Stock, Par Value $1.00
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(Title of Class of Securities)
252790100
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(CUSIP Number of Class of Securities)
Patricia Renda
WisdomTree Associates, L.P.
1633 Broadway, 38th Floor
New York, New York 10019
(212) 843-2782
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copies to:
Roger D. Blanc
Willkie Farr & Gallagher
153 East 53rd Street
New York, NY 10022
(212) 821-8000
April 16, 1996
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(Date of Event which Requires
Filing of this Schedule)
If the filing person has previously filed a statement
on Schedule 13G to report the acquisition which is the subject of
this Schedule 13D, and is filing this schedule because of Rule
13d-1(b)(3) or (4), check the following: |_|
Check the following box if a fee is being paid with this
statement: |_|
<TABLE>
<PAGE>2
SCHEDULE 13D
<S> <C>
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CUSIP No. 252790100 Page 2 of 19 Pages
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- ---- ------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WisdomTree Capital Management, Inc. I.D. #13-3729429
- ---- ------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
- ---- ------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------------------------------------------------------------------------------------------------------------
- ----
4 SOURCE OF FUNDS*
AF
- ---- ------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
- ---- ------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------- --------- ----------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
0 shares of Common Stock
--------- ----------------------------------------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 254,950 shares of Common Stock
OWNED BY
EACH
REPORTING
PERSON WITH
--------- ----------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares of Common Stock
--------- ----------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
254,950 shares of Common Stock
- ---- ------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
254,950 shares of Common Stock
- ---- ------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- ---- ------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.2%
- ---- ------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>3
SCHEDULE 13D
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CUSIP No. 252790100 Page 3 of 19 Pages
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1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WisdomTree Associates, L.P. I.D. #13-3729430
- ---- ------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
- ---- ------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---- ------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- ---- ------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
- ---- ------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------- --------- ----------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
0 shares of Common Stock
--------- ----------------------------------------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 242,100 shares of Common Stock
OWNED BY
EACH
REPORTING
PERSON WITH
--------- ----------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares of Common Stock
--------- ----------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
242,100 shares of Common Stock
- ---- ------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
242,100 shares of Common Stock
- ---- ------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- ---- ------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.9%
- ---- ------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>4
SCHEDULE 13D
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CUSIP No. 252790100 Page 4 of 19 Pages
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1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WisdomTree Offshore, Ltd.
- ---- ------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
- ---- ------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
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7 SOLE VOTING POWER
0 shares of Common Stock
--------- ----------------------------------------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 12,850 shares of Common Stock
OWNED BY
EACH
REPORTING
PERSON WITH
--------- ----------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares of Common Stock
--------- ----------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
12,850 shares of Common Stock
- ---- ------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
12,850 shares of Common Stock
- ---- ------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- ---- ------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
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14 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>5
SCHEDULE 13D
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CUSIP No. 252790100 Page 5 of 19 Pages
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1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jonathan L. Steinberg I.D. ####-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
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3 SEC USE ONLY
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- ----
4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
- ---- ------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------- --------- ----------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
0 shares of Common Stock
--------- ----------------------------------------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 254,950 shares of Common Stock
OWNED BY
EACH
REPORTING
PERSON WITH
--------- ----------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares of Common Stock
--------- ----------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
254,950 shares of Common Stock
- ---- ------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
254,950 shares of Common Stock
- ---- ------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- ---- ------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.2%
- ---- ------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ---- ------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>6
SCHEDULE 13D
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CUSIP No. 252790100 Page 6 of 19 Pages
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1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Russell L. Anmuth I.D. ####-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
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3 SEC USE ONLY
- ---- ------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
- ---- ------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------- --------- ----------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
18,550 shares of Common Stock
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 254,950 shares of Common Stock
OWNED BY
EACH
REPORTING
PERSON WITH
--------- ----------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
18,550 shares of Common Stock
--------- ----------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
254,950 shares of Common Stock
- ---- ------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
273,500 shares of Common Stock
- ---- ------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- ---- ------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.6%
- ---- ------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ---- ------------------------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
</TABLE>
<PAGE>7
This Amendment No. 1, dated April 22 1996, to the Schedule
13, dated January 22, 1996 (the "Schedule 13D"), filed on behalf of WisdomTree
Associates, L.P. (the "Partnership"), WisdomTree Capital Management, Inc. (the
"General Partner"), WisdomTree Offshore, Ltd. ("WisdomTree Offshore"), Jonathan
L. Steinberg ("Mr. Steinberg") and Russell L. Anmuth ("Mr. Anmuth" and
collectively, the "Reporting Entities"), relates to the Common Stock, par value
$1.00 per share (the "Common Stock") of The Diana Corporation, a Delaware
corporation (the "Company"), and is being filed pursuant to Rule 13d-2 under
the Securities Exchange Act of 1934, as amended.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 3 is hereby amended and restated as set forth below: Of
the 242,100 shares of Common Stock acquired by the
Partnership (the "Partnership Purchases"), 232,850 shares were acquired
in brokered transactions for an aggregate purchase price of $2,540,378.82 and
9,250 shares were acquired pursuant to a five percent stock dividend
payable on January 5, 1996 to shareholders of record on December 18, 1995.
The 12,850 shares of Common Stock purchased by WisdomTree Offshore (the
"Offshore Purchases") were acquired in brokered transactions for an
aggregate purchase price of $205,772.42. Of the 18,550 shares of Common
Stock acquired by Mr. Anmuth, 18,225 shares were acquired in brokered
transactions for an aggregate purchase price of
<PAGE>8
$197,208.41 and 325 shares were acquired pursuant to the aforementioned stock
dividend.
The source of funds for the Partnership Purchases was
investment capital contributed by the Partnership. The source of funds for
the Offshore Purchases was investment capital contributed by WisdomTree
Offshore. The source of funds for the shares purchased by Mr. Anmuth was
personal funds contributed by Mr. Anmuth.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is hereby amended and restated as set forth below:
(a) As of April 17, 1996, the Partnership beneficially
owned a total of 242,100 shares of the Common Stock of the Company, the
General Partner beneficially owned a total of 254,950 shares of the Common
Stock of the Company, WisdomTree Offshore beneficially owned a total of 12,850
shares of the Common Stock of the Company, Mr. Steinberg beneficially owned a
total of 254,950 shares of the Common Stock of the Company and Mr. Anmuth
beneficially owned a total of 273,500 shares of the Common Stock of the
Company, constituting 5.9%, 6.2%, .3%, 6.2% and 6.6%, respectively, of
the shares of Common Stock then outstanding, based on 4,128,520 shares
of Common Stock reported to be outstanding as disclosed in the Company's
quarterly report on Form 10-Q the quarter ended January 6, 1996. As of April
17, 1996, the Reporting Entities beneficially owned a total of 273,500
shares of the Common Stock of the Company, constituting 6.6% of the shares of
Common Stock then outstanding. To the best
<PAGE>9
of the knowledge of the Reporting Entities, none of the individuals listed
on Schedule A, with the exception of Mr. Steinberg and Mr. Anmuth,
beneficially owns any shares of the Common Stock of the Company, except
pursuant to their interests in the Partnership, the General Partner and
WisdomTree Offshore.
(b) The Partnership, the General Partner, Mr. Steinberg and
Mr. Anmuth share voting and dispositive power with respect to 242,100 shares of
Common Stock. WisdomTree Offshore, the General Partner, Mr. Steinberg and Mr.
Anmuth share voting and dispositive power with respect to 12,850 shares of
Common Stock. Mr. Anmuth has sole voting and dispositive power with respect
to 18,550 shares of Common Stock. To the best of the knowledge of the
Reporting Entities, none of the individuals listed on Schedule A, with the
exception of Mr. Steinberg and Mr. Anmuth, has any voting or dispositive power
with respect to shares of Common Stock.
(c) Information concerning transactions in Common Stock
effected by the Reporting Entities since the filing of the Schedule 13D on
January 22, 1996 is set forth in Schedule B hereto and is incorporated by
reference. Except as set forth in Schedule B, no transactions in Common Stock
have been effected by any of the Reporting Entities or, to the best of the
knowledge of the Reporting Entities, by any of the persons identified
in Schedule A since the filing of the Schedule 13D on January 22, 1996.
(d) Not applicable.
(e) Not applicable.
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ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
Item 6 is hereby amended and restated as set forth below:
Neither the Reporting Entities nor, to the best of
the Reporting Entities' knowledge, any of the individuals listed on
Schedule A hereto, has any contracts, arrangements, understandings, or
relationships (legal or otherwise) with any person with respect to any
securities of the Company, including, but not limited to, transfer or
voting of any of the securities, finder's fees, joint ventures, loan or
option arrangements, puts or calls, guarantees of profits, division of
profits or losses, or the giving or withholding of proxies, with the
exception of Margin Agreements by and between Paine Webber Incorporated and
each of the Partnership and WisdomTree Offshore.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Item 7 is hereby amended and restated as set forth below:
1. Margin Agreement by and between Paine Webber
Incorporated and the Partnership.
2. Margin Agreement by and between Paine Webber
Incorporated and WisdomTree Offshore.
<PAGE>11
SCHEDULE A
The following table sets forth the name and principal employment
of each of the officers and directors of WisdomTree Capital Management,
Inc., Individual Investor Group, Inc. and WisdomTree Offshore, Ltd., as well
as the business address of each director of such entities not employed
by such entities.
<TABLE>
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WisdomTree Capital
Management, Inc. Position
Jonathan L. Steinberg Chairman, Chief Executive Officer, Treasurer and
Director
Robert Schmidt President and Director
Scot Rosenblum Vice President, Secretary and Director
Russell Anmuth Vice President
Individual Investor
Group, Inc. Position
Jonathan L. Steinberg Chairman, Chief Executive Officer and Director
Robert Schmidt President, Chief Operating Officer and Director
Scot Rosenblum Vice President, Secretary and Director
Henry Clark Controller and Assistant
Secretary
Peter M. Ziemba Assistant Secretary
Bruce Sokoloff Director; Executive Vice President, Reliance Group
Holdings, Inc., 55 East 52nd Street, New York, New York
10055
WisdomTree Offshore, Ltd. Position
Jonathan L. Steinberg Vice President
Scot Rosenblum Chairman, Vice President and Director
<PAGE>12
Christopher Wetherhill President and Director; Chief Executive Officer, The
Hemisphere Group Limited, Hemisphere House, 9 Church
Street, Hamilton, Bermuda
Charles Quin Director; Partner, Quin & Hampson, George Town, Grand
Cayman, Cayman Islands.
</TABLE>
<PAGE>13
SCHEDULE B
The Partnership
1. On January 29, 1996, the Partnership purchased 1,500 shares of
Common Stock of the Company in brokered transactions at a price of
$15.86 per share.
2. On January 30, 1996, the Partnership purchased 500 shares of
Common Stock of the Company in brokered transactions at a price of
$15.30 per share.
3. On January 31, 1996, the Partnership purchased 23,000 shares of
Common Stock of the Company in brokered transactions at a price of
$15.85 per share.
4. On February 12, 1996, the Partnership purchased 2,850 shares of
Common Stock of the Company in brokered transactions at a price of
$16.56 per share.
WisdomTree Offshore
1. On February 9, 1996, WisdomTree Offshore purchased 3,000 shares
of Common Stock of the Company in brokered transactions at a
price of $15.52 per share.
2. On February 12, 1996, WisdomTree Offshore purchased 2,850 shares
of Common Stock of the Company in brokered transactions at a
price of $16.56 per share.
Mr. Anmuth
1. On February 15, 1996, Mr. Anmuth purchased 3,000 shares of Common
Stock of the Company in brokered transactions at a price of $15.81 per
share.
2. On February 21. 1996, Mr. Anmuth purchased 500 shares of Common Stock
of the Company in brokered transactions at a price of $14.19 per
share.
3. On February 29, 1996, Mr. Anmuth purchased 1,000 shares of Common
Stock of the Company in brokered transactions at a price of $19.56 per
share.
4. On March 1, 1996, Mr. Anmuth purchased 1,500 shares of Common Stock of
the Company in brokered transactions at a price of $19.94 per share.
5. On March 1, 1996, Mr. Anmuth purchased 500 shares of Common Stock of
the Company in brokered transactions at a price of $20.69 per share.
<PAGE>14
6. On March 28, 1996, Mr. Anmuth purchased 1,000 shares of Common Stock
of the Company in brokered transactions at a price of $20.69 per
share.
7. On April 11, 1996, Mr. Anmuth purchased 1,000 shares of Common Stock
of the Company in brokered transactions at a price of $36.00 per
share.
8. On April 11, 1996, Mr. Anmuth purchased 500 shares of Common Stock of
the Company in brokered transactions at a price of $36.13 per share.
9. On April 16, 1996, Mr. Anmuth purchased 2,000 shares of Common Stock
of the Company in brokered transactions at a price of $41.13 per
share.
<PAGE>15
SIGNATURES
After reasonable inquiry and to the best of our knowledge and
belief, the undersigned certify that the information set forth in this
statement is true, complete and correct.
Dated: April 22, 1996 WISDOMTREE ASSOCIATES, L.P.
By: WisdomTree Capital Management,
Inc., General Partner
By:/s/ Scot A. Rosenblum Name:
Scot A. Rosenblum Title: Vice
President
Dated: April 22, 1996 WISDOMTREE CAPITAL MANAGEMENT, INC.
By:/s/ Scot A. Rosenblum Name:
Scot A. Rosenblum Title: Vice
President
Dated: April 22, 1996 WISDOMTREE OFFSHORE, LTD.
By:/s/ Scot A. Rosenblum Name:
Scot A. Rosenblum Title: Director
Dated: April 22, 1996 By:/s/ Jonathan L. Steinberg
-------------------------
Jonathan L. Steinberg
Dated: April 22, 1996 By:/s/ Russell L. Anmuth
---------------------
Russell L. Anmuth
