<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 11-K
Annual Report Pursuant to Section 15(d)
of the Securities Exchange Act of 1934
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1995
A. Full title of the plan and the address of the plan, if different from that of
the issuer named below:
COMPUCOM SYSTEMS, INC.
401(K) MATCHED SAVINGS PLAN
B. Name of issuer of the securities held pursuant to the plan and the address of
its principal executive office:
COMPUCOM SYSTEMS, INC.
10100 NORTH CENTRAL EXPRESSWAY
DALLAS, TEXAS 75231
Registrant's telephone number, including area code (214) 265-3600
<PAGE>
SIGNATURE
- ---------
The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934,
the plan administrator of CompuCom Systems, Inc. 401(k) Matched Savings Plan has
duly caused this annual report to be signed on its behalf by the undersigned
hereunto duly authorized.
COMPUCOM SYSTEMS, INC.
401(k) MATCHED SAVINGS PLAN
Date: June , 1996 By: /s/ Robert J. Boutin
------------------------------ -------------------------------
Robert J. Boutin
Senior Vice President-Finance
2
<PAGE>
COMPUCOM SYSTEMS, INC.
401(K) MATCHED SAVINGS PLAN
Table of Contents
-----------------
Independent Auditors' Report
Statement of Net Assets Available for Benefits as of
December 31, 1995
Statement of Net Assets Available for Benefits as of
December 31, 1994
Statement of Changes in Net Assets Available for Benefits
for the year ended December 31, 1995
Statement of Changes in Net Assets Available for Benefits
for the year ended December 31, 1994
Notes to Financial Statements
Schedule
--------
Item 27a - Schedule of Assets Held for Investment Purposes as of
December 31, 1995 I
Item 27d - Schedule of Reportable Transactions for the year ended
December 31, 1995 II
3
<PAGE>
INDEPENDENT AUDITORS' REPORT
----------------------------
The Participants and Plan Administrator
CompuCom Systems, Inc. 401(k) Matched Savings Plan:
We have audited the accompanying statements of net assets available for benefits
of CompuCom Systems, Inc. 401(k) Matched Savings Plan as of December 31, 1995
and 1994, and the related statements of changes in net assets available for
benefits for the years then ended. 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 audit 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 CompuCom
Systems, Inc. 401(k) Matched Savings Plan as of December 31, 1995 and 1994, and
the changes in its net assets available for benefits for the years then ended in
conformity with generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of assets held
for investment purposes and schedule of reportable transactions are presented
for the purpose of additional analysis and are not a required part of the basic
financial statements but are supplementary information required by the
Department of Labor's Rules and Regulations for Reporting and Disclosure under
the Employee Retirement Income Security Act of 1974. The Fund Information in the
statement of net assets available for benefits and the statement of changes in
net assets available for benefits is presented for purposes of additional
analysis rather than to present the net assets available for benefits and
changes in net assets available for plan benefits of each fund. The supplemental
schedules and Fund Information have been subjected to the auditing procedures
applied in the audits of the basic financial statements and, in our opinion, are
fairly stated in all material respects in relation to the basic financial
statements taken as a whole.
KPMG Peat Marwick LLP
Dallas, Texas
June 19, 1996
4
<PAGE>
COMPUCOM SYSTEMS, INC.
401(k) MATCHED SAVINGS PLAN
Statement of Net Assets Available for Benefits
December 31, 1995
<TABLE>
<CAPTION>
Guaranteed CompuCom Fidelity Fidelity Scudder
Long-term Stock Magellan Puritan International
Fund Fund Fund Fund Bond Fund Totals
---- ---- ---- ---- --------- ------
<S> <C> <C> <C> <C> <C> <C>
Assets
Investments (note 3):
Funds with an insurance company, at
contract value $3,109,496 - - - - 3,109,496
CompuCom Systems, Inc. common stock, at fair
value (618,904 shares; cost of $2,330,291) - 5,879,588 - - - 5,879,588
Fidelity Magellan Fund, at fair value
(48,684 units; cost of $3,891,192) - - 4,185,816 - - 4,185,816
Fidelity Puritan Fund, at fair value
(1,165,449 units; cost of $2,840,978) - - - 2,814,291 - 2,814,291
Scudder International Bond Fund, at
fair value (26,235 units; cost
of $301,734) - - - - 300,656 300,656
Participant loans (unpaid principal
balance approximates fair value) 173,178 - - - - 173,178
Cash 67,819 103,468 128,713 89,495 15,915 405,410
Receivables:
Employer's contributions 161,406 173,262 302,336 237,224 41,978 916,206
Employees' contributions 18,015 18,647 35,200 25,548 6,597 104,007
---------- --------- --------- --------- ------- ----------
Net assets available for
plan benefits $3,529,914 6,174,965 4,652,065 3,166,558 365,146 17,888,648
========== ========= ========= ========= ======= ==========
</TABLE>
See accompanying notes to financial statements.
5
<PAGE>
COMPUCOM SYSTEMS, INC.
401(k) MATCHED SAVINGS PLAN
Statement of Net Assets Available for Benefits
December 31, 1994
<TABLE>
<CAPTION>
Guaranteed CompuCom Fidelity Fidelity Scudder
Long-term Stock Magellan Puritan International
Fund Fund Fund Fund Bond Fund Totals
---- ---- ---- ----- ---------- ------
<S> <C> <C> <C> <C> <C> <C>
Assets:
Investments (note 3):
Funds with an insurance company, at
contract value $ 2,488,279 - - - - 2,488,279
CompuCom Systems, Inc. common
stock, at fair value (633,901 shares;
cost of $1,876,347) - 1,980,941 - - - 1,980,941
Fidelity Magellan Fund, at fair value
(36,093 units; cost of $2,422,347) - - 2,411,023 - - 2,411,023
Fidelity Puritan Fund, at fair value
(118,444 units; cost of $1,794,017) - - - 1,754,148 - 1,754,148
Scudder International Bond Fund, at
fair value (9,668 units; cost
of $113,722) - - - - 110,024 110,024
Participant loans (unpaid principal
balance approximates fair value)
218,482 - - - - 218,482
Cash - 4,674 19,277 19,386 81 43,418
Receivables:
Employer's contrubutions 33,661 35,213 57,662 45,428 7,988 179,952
Employer's contributions 80,693 75,044 120,844 93,454 15,983 386,018
----------- --------- --------- --------- ------- ---------
Net assets available for
plan benefits
$ 2,821,115 2,095,872 2,608,806 1,912,416 134,076 9,572,285
=========== ========= ========= ========= ======= =========
</TABLE>
See accompanying notes to financial statements.
6
<PAGE>
COMPUCOM SYSTEMS, INC.
401(k) MATCHED SAVINGS PLAN
Statement of Changes in Net Assets Available for Benefits
Year ended December 31, 1995
<TABLE>
<CAPTION>
Guaranteed CompuCom Fidelity Fidelity Scudder
Long-term Stock Magellan Puritan International
Fund Fund Fund Fund Bond Fund Totals
---- ---- ---- ---- --------- ------
<S> <C> <C> <C> <C> <C> <C>
Additions to plan assets attributed to:
Employer's contributions $ 161,406 173,262 302,336 237,224 41,978 916,206
Employees' contributions 485,862 584,349 921,439 723,568 133,731 2,848,949
---------- --------- --------- --------- ------- ----------
647,268 757,611 1,223,775 960,792 175,709 3,765,155
Employee rollovers from
previous savings plans 72,026 54,351 189,021 137,395 32,079 484,872
Investment income:
Interest 155,792 - - - 14,624 170,416
Net appreciation in fair value
of investments _ 3,993,594 966,316 438,184 2,104 5,400,198
---------- --------- --------- --------- ------- ----------
Net investment income 155,792 3,993,594 966,316 438,184 16,728 5,570,614
---------- --------- --------- --------- ------- ----------
Total additions 875,086 4,805,556 2,379,112 1,536,371 224,516 9,820,641
Transfers in (out) 110,066 (329,617) 127,439 65,153 26,959 _
Withdrawals (276,353) (396,846) (463,292) (347,382) (20,405) (1,504,278)
---------- --------- --------- --------- ------- ----------
Net increase 708,799 4,079,093 2,043,259 1,254,142 231,070 8,316,363
Net assets available for benefits:
Beginning of year 2,821,115 2,095,872 2,608,806 1,912,416 134,076 9,572,285
---------- --------- --------- --------- ------- ----------
End of year $3,529,914 6,174,965 4,652,065 3,166,558 365,146 17,888,648
========== ========= ========= ========= ======= ==========
</TABLE>
See accompanying notes to financial statements.
7
<PAGE>
COMPUCOM SYSTEMS, INC.
401(k) MATCHED SAVINGS PLAN
Statement of Changes in Net Assets Available for Benefits
Year ended December 31, 1994
<TABLE>
<CAPTION>
Guaranteed CompuCom Fidelity Fidelity Scudder
Long-term Stock Magellan Puritan International
Fund Fund Fund Fund Bond Fund Totals
---- ---- ---- ---- --------- ------
<S> <C> <C> <C> <C> <C> <C>
Additions to plan assets attributed to:
Employer's contributions $ 118,341 124,773 202,986 149,441 7,988 603,529
Employees' contributions 409,631 459,197 723,231 523,286 23,629 2,138,974
--------- --------- --------- --------- ------- ---------
527,972 583,970 926,217 672,727 31,617 2,742,503
Employee rollovers from
previous savings plans 26,786 23,209 53,658 66,355 1,145 171,153
Investment income:
Interest 125,979 - - - 754 126,733
Net depreciation in fair value
of investments - (781,786) (46,529) 24,109 (3,699) (807,905)
--------- --------- --------- --------- ------- ---------
Net investment income 125,979 (781,786) (46,529) 24,109 (2,945) (681,172)
--------- --------- --------- --------- ------- ---------
Total additions
(deductions) 680,737 (174,607) 933,346 763,191 29,817 2,232,484
Transfers in (out) (351,975) 192,869 25,040 29,807 104,259 -
Withdrawals (213,901) (286,351) (386,186) (374,985) - (1,261,423)
--------- --------- --------- --------- ------- ---------
Net increase (decrease) 114,861 (268,089) 572,200 418,013 134,076 971,061
Net assets available for benefits:
Beginning of year 2,706,254 2,363,961 2,036,606 1,494,403 - 8,601,224
--------- --------- --------- --------- ------- ---------
End of year $2,821,115 2,095,872 2,608,806 1,912,416 134,076 9,572,285
========= ========= ========= ========= ======= =========
</TABLE>
See accompanying notes to financial statements.
8
<PAGE>
COMPUCOM SYSTEMS, INC.
401(k) MATCHED SAVINGS PLAN
Notes to Financial Statements
December 31, 1995 and 1994
(1) Summary of Significant Accounting Policies
The accompanying financial statements have been prepared on an accrual
basis using quoted market for determining fair value of investments or
stated contract values. The market values of investment securities are
based on closing market quotations or face value which approximates fair
value. Funds with the insurance company are recorded at contract value.
Contract value represents contributions made under the contract plus
interest at the contract rate. Contract value represents contributions made
under the contract, plus earnings less Plan withdrawals. Purchases and
sales of securities are recorded on a trade date basis. Expenses relating
to the purchase or sale of investment securities are added to the cost or
deducted from the proceeds, respectively.
The net increase (decrease) in fair values of investments held during the
years ended December 31, 1995 and 1994 (including investments bought, sold,
as well as held during the year) is reflected in the statements of changes
in net assets available for benefits as net appreciation (depreciation) in
fair value of investments.
The preparation of financial statements in conformity with generally
accepted accounting principles requires the Plan to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the
financial statements, and the reported amounts of revenues and expenses
during the reporting period. Because of the use of estimates inherent in
the financial reporting process, actual results could differ from those
estimates.
Certain prior period amounts have been reclassified to conform to the
December 31, 1995 presentation.
(2) Description of the Plan
(a) General
The CompuCom Systems, Inc. 401(k) Matched Savings Plan (the Plan) is a
defined contribution plan covering substantially all employees of
CompuCom Systems, Inc. (the Company/Employer) who have completed at
least 12 months of qualifying service. The Plan, which was adopted by
the Company's Board of Directors in October, 1987 and approved by the
Company's shareholders in June 1988, became effective January 1, 1988.
The following description of the Plan is provided for general
informational purposes only. Participants should refer to the Plan
documents for more complete information.
The Plan is subject to the provisions of the Employee Retirement
Income Security Act of 1974, as amended (ERISA). The Plan is subject
to those provisions of Title I and II of ERISA which, among other
things, require that each participant be furnished with an annual
financial report and a comprehensive description of the participant's
rights under the Plan, set minimum standards of responsibility
applicable to fiduciaries of the Plan, and establish minimum standards
for participation and vesting.
9
<PAGE>
COMPUCOM SYSTEMS, INC.
401(k) MATCHED SAVINGS PLAN
Notes to Financial Statements
The Company serves as the Plan Administrator; however, the Plan
operates under a contract administration whereby an independent third
party consulting firm (Consulting Firm) assists the Company in this
capacity. The Consulting Firm maintains a separate account for each
participant reflecting the participant's cost and market value of
investments. An independent trustee (The Trustee) makes distributions
from a participant's account in accordance with the terms of the Plan
document. The Trustee of the Plan was changed on October 1, 1994.
Although it has not expressed any intent to do so, the Company has the
right under the Plan to discontinue its contributions at any time and
to terminate the Plan subject to the provisions of ERISA. In the event
of Plan termination, participants will become 100% vested in their
accounts.
(b) Vesting
Participants are fully vested in the earnings of their individual
contributions to the Plan. Prior to October 1, 1994 the Employer's
matching contributions vested 100% after two years of service.
Beginning October 1, 1994, the Employer's matching contributions vest
50% after two years of service and 100% after three years of service.
A year of service is a consecutive 12 month period during which an
employee has completed 1,000 hours of service.
(c) Contributions
During each year, participants may contribute to the Plan an amount
between one percent and ten percent of their total annual compensation
(elective contributions). The total 1995 qualified contributions to an
individual participant's account may not exceed the lesser of $9,240
($9,240 in 1994) or 25% of the participant's total compensation. Prior
to October 1, 1994, the Company matched 50% of each participant's
qualifying contribution up to 4% of the participant's basic
compensation. Beginning October 1, 1994, the Company will match an
additional 25% on each participant's next 2% (over and beyond the
first 4%) qualifying contributions. During 1995 and 1994, the Company
contributed $916,206 and $603,529, respectively, to participants'
accounts.
Contributions are invested in one or more investment funds, one of
which includes the Company's Common Stock. Prior to October 1, 1994,
the funds allocated to a participant's account were invested in the
Bank's Guaranteed Short-term Account from the date of receipt by the
bank to the date the bank remitted the funds. Interest credited on
these funds in the Bank's Guaranteed Short-term Account were remitted
with the funds to the respective participant's accounts. Beginning
October 1, 1994, when the Plan changed Trustees, funds allocated to a
participant's account are no longer invested in a Guaranteed Short-
term Account. The funds allocated to a participant's account are
received by the Trustee in cash and are held in cash until they are
invested in the appropriate funds. At December 31, 1995 and 1994, the
Plan had $405,410 and $43,418 in cash, respectively.
10
<PAGE>
COMPUCOM SYSTEMS, INC.
401(k) MATCHED SAVINGS PLAN
Notes to Financial Statements
(d) Participant's Accounts
Each participant's account is credited with the participant's
contribution and allocations of the Company's contribution and Plan
earnings. Forfeited balances of terminated participant's nonvested
accounts are used to reduce future Company contributions. The benefit
to which a participant is entitled is the benefit that can be provided
from the participant's vested account.
(e) Withdrawals
Participants may request a withdrawal of all or a portion of their
elective contribution account balances if the withdrawal qualifies as
a "Financial Hardship" as defined by the Internal Revenue Service. The
Plan Administrator must approve the request and the hardship
withdrawal will be taxed to the participant as ordinary income and may
be subject to an additional government imposed penalty tax. Upon the
attainment of age 59-1/2, participants may withdraw without penalty
from their participant's account an amount which is equal to any whole
percentage of their vested interest.
(f) Loans to Participants
Upon written request of a participant and subject to completion of
three years of Plan participation, the Plan Administrator, in its sole
discretion, may make a loan to the participant. Participant loan
amounts may not exceed $50,000 or 50% of the participant's vested
account balance. The maximum term for any loan is five years. Loans
bear interest at rates determined by the Plan Administrator ranging
from 8% to 12% in 1995.
(g) Expenses of Plan
The costs of the Plan's administrative expenses are paid by the
Company.
(3) Investment Programs
The participant determines both the amount to be invested and the
allocation of the investment to one or more of the investment funds.
Allocations to investment funds must be in multiples of 1%. Prior to
October 1, 1994, the Participant could change the amount or allocation of
investments on a quarterly basis. Beginning October 1, 1994, the
Participant may change the amount or allocation of investments monthly, but
only once per quarter. The Plan has five investment options at December 31,
1995. The Scudder International Bond Fund was made available to
participants on October 1, 1994.
(a) Guaranteed Long-term Fund
Contributions are invested in longer term fixed income securities,
such as corporate bonds and commercial mortgages. Funds are recorded
at contract value as reported to the Plan by the insurance company.
The interest rates for 1995 and 1994 averaged 5.88% and 5.35%,
respectively. The declared interest rate as of January 1, 1996 is
5.60%.
11
<PAGE>
COMPUCOM SYSTEMS, INC.
401(k) MATCHED SAVINGS PLAN
Notes to Financial Statements
(b) CompuCom Stock Fund
Contributions are invested in the Company's common stock. The Company
has entered into a contractual agreement for the purchase and
liquidation of shares of Employer stock.
(c) Fidelity Magellan Fund
Contributions are invested in a pooled fund of common stocks and
securities convertible to common stock. The performance of the fund is
related to market gains and losses. The return on this fund may be
higher or lower than the return of other funds.
(d) Fidelity Puritan Fund
Contributions are invested in a pooled fund of a broad list of
securities, including common stocks, preferred stocks and bonds,
including high-yield, low-quality bonds. The value of this fund
depends on the performance of the stocks and bonds in which this fund
is invested. The return on this fund may be higher or lower than the
return of other funds.
(e) Scudder International Bond Fund
Contributions are invested in a pooled fund primarily investing in
debt securities of companies both inside and outside the United
States. The value of this fund depends on the performance of the bonds
in which this fund is invested. The return on this fund may be higher
or lower than the return of other funds.
The following table presents the fair values of investments that represent
5% or more of the Plan's net assets available for benefits:
<TABLE>
<CAPTION>
December 31, 1995 December 31, 1994
----------------- -----------------
Contract Contract
Units, shares value/fair Units, shares value/fair
Description or face value value or face value value
----------- ------------- ---------- ------------- ----------
<S> <C> <C> <C> <C>
CIGNA Guaranteed
Long-term Fund 3,109,496 $ 3,109,496 2,488,279 $ 2,488,279
CompuCom Systems,
Inc. common stock 618,904 5,879,588 633,901 1,980,941
Fidelity Magellan Fund 48,684 4,185,816 36,093 2,411,023
Fidelity Puritan Fund 65,449 2,814,291 118,444 1,754,148
Scudder International
Bond Fund 26,235 300,656 9,668 110,024
---------- ---------
$ 16,289,847 $ 8,744,415
========== =========
</TABLE>
12
<PAGE>
COMPUCOM SYSTEMS, INC.
401(k) MATCHED SAVINGS PLAN
Notes to Financial Statements
(4) Status
------
The Internal Revenue Service has determined and informed the Company by a
letter dated August 2, 1989 that the Plan is designed in accordance with
applicable sections of the Internal Revenue Code (IRC). The Plan has been
amended since receiving the determination letter. However, the Plan
administrator and the Plan's tax counsel believe that the Plan is designed
and is currently being operated in compliance with the applicable
requirements of the IRC.
The federal income tax status of the participants with respect to their
contributions to the Plan is described in information submitted to the
participants and, subject to certain limitations, such contributions are
tax deferred.
13
<PAGE>
Schedule I
COMPUCOM SYSTEMS, INC.
401(k) MATCHED SAVINGS PLAN
Item 27a - Schedule of Assets Held for Investment Purposes
as of December 31, 1995
<TABLE>
<CAPTION>
Identity of issue Description of investment Cost Current value
----------------- ------------------------- ---- -------------
<S> <C> <C> <C>
Guaranteed Long-term Fund:
CIGNA Insurance Company 3,109,496 units $ 3,109,496 3,109,496
Cash 67,819 67,819
CompuCom Stock Fund:
CompuCom Systems, Inc.
common stock 618,904 shares 2,330,291 5,879,588
Cash 103,468 103,468
Fidelity Magellan Fund:
Fidelity Magellan Fund 48,684 units 3,891,192 4,185,816
Cash 128,713 128,713
Fidelity Puritan Fund:
Fidelity Puritan Fund 165,449 units 2,840,978 2,814,291
Cash 89,495 89,495
Scudder International Bond Fund:
Scudder International Bond
Fund 26,235 units 301,734 300,656
Cash 15,915 15,915
Participant loans Loans to participants, 8.0
-12% 173,178 173,178
----------- ----------
$13,052,279 16,868,435
=========== ==========
</TABLE>
See accompanying independent auditors' report.
14
<PAGE>
Schedule II
COMPUCOM SYSTEMS, INC.
401(k) MATCHED SAVINGS PLAN
Item 27d - Schedule of Reportable Transactions
for the year ended December 31, 1995
<TABLE>
<CAPTION>
Current
Expense value of
Aggregate incurred Cost asset on Net
Description number of Purchase Selling Lease with of transaction gain
Identity of party involved of transaction transactions price price rental transaction asset date (loss)
- -------------------------- -------------- ------------ --------- ------ ------ ----------- --------- --------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Purchases:
CompuCom Stock Fund Common stock fund 38 $1,958,132 - - - 1,958,132 1,958,132 -
== ========== ======= == == ========= ========= ======
Fidelity Magellan Fund Common stock fund 56 $2,603,051 - - - 2,603,051 2,603,051 -
== ========== ======= == == ========= ========= ======
Fidelity Puritan Fund Variable security 55 $1,917,823 - - - 1,917,823 1,917,823 -
fund == ========== ======= == == ========= ========= ======
Cigna Guaranteed Fund Insurance contract 32 $1,745,751 - - - 1,745,751 1,745,751 -
== ========== ======= == == ========= ========= ======
Sales:
CompuCom Stock Fund Common stock fund 26 $ - 639,780 - - 639,780 639,780 -
== ========== ======= == == ========= ========= ======
Fidelity Magellan Fund Common stock fund 32 $ - 385,945 - - 385,945 385,945 -
== ========== ======= == == ========= ========= ======
Cigna Guaranteed Fund Insurance contract 17 $ - 248,395 - - 248,395 248,395 -
== ========== ======= == == ========= ========= ======
Fidelity Magellan Fund Common stock fund 38 $ - 517,486 - - 517,486 517,486 -
== ========== ======= == == ========= ========= ======
</TABLE>
See accompanying independent auditors' report.
15
<PAGE>
Exhibit 23
CONSENT OF INDEPENDENT AUDITORS
-------------------------------
To the Participants and Plan Administrator
CompuCom Systems, Inc. 401(k) Matched Savings Plan:
We consent to the incorporation by reference in Registration Statements
(No. 33-30056 No. 33-30175, No. 33-43275 and No. 33-76382) on Form S-8 of
CompuCom Systems, Inc. of our report dated July 19, 1996 relating to the
statements of net assets available for benefits of the CompuCom Systems, Inc.
401(k) Matched Savings Plan as of December 31, 1995 and 1994, and the related
statements of changes in net assets available for benefits for the years then
ended, and the related supplemental schedules, which report appears in the
December 31, 1995 annual report on Form 11-K of the CompuCom Systems, Inc.
401(k) Matched Savings Plan filed by CompuCom Systems, Inc.
KPMG Peat Marwick LLP
Dallas, Texas
June 28, 1996
