SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)
Addington Resources, Inc.
(Name of Issuer)
Common Stock, par value $1.00
(Title of Class of Securities)
006516108
(CUSIP Number)
Mr. Howard P. Berkowitz (212) 664-0990
HPB Associates, L.P. 888 Seventh Avenue
New York, New York 10106
(Name, address and telephone number of person
authorized to receive notices and communications)
September 13, 1995
(Date of event which requires filing of this statement)
______________________
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 box [ ].
Check the following box if a fee is being paid with the
statement [ ]. (A fee is not required only if the reporting
person: (1) has a previous statement on file reporting
beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of five percent
or less of such class.) (See Rule 13d-7.)
<PAGE>
13D
CUSIP No. 006516108
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. HPB Associates, L.P.
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS
WC
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER 2,455,285
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER -0-
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER 2,455,285
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER -0-
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 2,455,285
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 15.4%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 006516108
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. Howard P. Berkowitz
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS
OO
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER 2,455,285 (all shares are
owned for the account of HPB Associates, L.P.)
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER -0-
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER 2,455,285 (all shares are
owned for the account of HPB Associates, L.P.)
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER -0-
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 2,455,285 (all shares are
owned for the account of HPB Associates, L.P.)
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 15.4%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 006516108
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. Harold Blumenstein
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS
PF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER 100,000
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER -0-
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER 100,000
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER -0-
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 100,000
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 0.6%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 006516108
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. James Grosfeld
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS PF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [X]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER 155,000
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER -0-
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER 155,000
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER -0-
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 155,000
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 1.0%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 006516108
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. Richard Ravitch
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS PF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER 10,000
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER -0-
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER 10,000
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER -0-
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 10,000
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 0.06%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 006516108
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. Cliff Greenberg
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS
PF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER 50,000
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER -0-
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER 50,000
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER -0-
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 50,000
_____________________________________________________________________________
(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%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 006516108
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. David Sachs
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS
PF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER 5,000
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER -0-
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER 5,000
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER -0-
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 5,000
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 0.03%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 006516108
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. Jonathan Vannini
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS
PF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER 231,000
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER -0-
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER 231,000
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER -0-
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 231,000
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 1.5%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP No. 006516108
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. Carl Bennett
OF ABOVE PERSON
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS
PF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER 2,500
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER -0-
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER 2,500
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER -0-
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 2,500
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 0.02%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
This Schedule 13D, initially filed on January 20, 1992, as amended
by Amendment No. 1 filed on April 5, 1995, Amendment No. 2 filed on July 18,
1995, Amendment No. 3 filed on August 11, 1995 and Amendment No. 4 filed on
August 31, 1995 by HPB Associates, L.P., a Delaware limited partnership (the
"Partnership"), and by Howard P. Berkowitz, the managing partner of the
Partnership, relating to the common stock, par value $1.00 per share (the
"Common Stock"), of ADDINGTON RESOURCES, INC., a Delaware corporation whose
principal executive offices are located at 1500 North Big Run Road, Ashland,
Kentucky 41102 (the "Company") is hereby amended by this Amendment No. 5 to
the Schedule 13D as follows:
Item 2. Identity and Background.
Item 2 is hereby supplemented by the addition of the following:
Mr. Greenberg's present principal occupation is as a general
partner of the Partnership. The business address of Mr. Greenberg is 888
Seventh Avenue, New York, New York 10106.
Mr. Sachs's present principal occupation is as a limited partner
of the Partnership. The business address of Mr. Sachs is 888 Seventh Avenue,
New York, New York 10106.
Mr. Vannini's present principal occupation is as a general partner
of the Partnership. The business address of Mr. Vannini is 888 Seventh
Avenue, New York, New York 10106.
Mr. Bennett's present principal occupation is as a limited partner
of the Partnership. The business address of Mr. Bennett is 888 Seventh
Avenue, New York, New York 10106.
None of Messrs. Greenberg, Sachs, Vannini or Bennett has, during
the last five years.
A. been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors); or
B. been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and, as a result of such
proceeding, was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to,
federal or state securities laws or a finding of any violation with respect to
such laws.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is hereby supplemented by the addition of the following:
The source of funds for the purchase reported in Item 4 below was
the personal funds of the respective individuals: (i) the total amount of
funds used by Mr. Grosfeld to purchase his 100,000 shares of Common Stock is
$900,000, (ii) the total amount of funds used by Mr. Blumenstein to purchase
his 100,000 shares of Common Stock is $900,000, (iii) the total amount of
funds used by Mr. Ravitch to purchase his 10,000 shares of Common Stock is
$90,000, (iv) the total amount of funds used by Mr. Greenberg to purchase his
50,000 shares of Common Stock is $450,000; (v) the total amount of funds used
by Mr. Sachs to purchase his 5,000 shares of Common Stock is $45,000, (vi) the
total amount of funds used by Mr. Vannini to purchase his 231,000 shares of
Common Stock is $2,079,000, and (vii) the total amount of funds used by Mr.
Bennett to purchase his 2,500 shares of Common Stock is $22,500.
Item 4. Purpose of Transaction.
Item 4 is hereby supplemented by the addition of the following:
On September 13, 1995, each of the reporting persons (with the
exception of the Partnership and Mr. Berkowitz) (each, a "Purchaser") acquired
from the Partnership the number of shares of Common Stock set forth adjacent
to such Purchaser's name: (i) Mr. Grosfeld acquired 100,000 shares of Common
Stock, (ii) Mr. Blumenstein acquired 100,000 shares of Common Stock, (iii) Mr.
Ravitch acquired 10,000 shares of Common Stock, (iv) Mr. Greenberg acquired
50,000 shares of Common Stock, (v) Mr. Sachs acquired 5,000 shares of Common
Stock, (vi) Mr. Vannini acquired 231,000 shares of Common Stock, and (vii) Mr.
Bennett acquired 2,500 shares of Common Stock, each from the Partnership for a
purchase price of $9.00 per share. The purchase price for each share of
Common Stock was $9.00 per share; however, each Purchaser may be obligated to
pay an additional $1.00 per share if such Purchaser disposes of Common Stock
on or prior to August 31, 1997 for a price in excess of $25 per share.
Messrs. Blumenstein, Ravitch, Sachs and Bennett are limited
partners of the Partnership. Messrs. Greenberg and Vannini are general
partners of the Partnership. Certain members of Mr. Grosfeld's family and
certain trusts affiliated with Mr. Grosfeld are limited partners of the
Partnership.
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby supplemented by the addition of the following:
(a) As of the date of this filing, each of the reporting persons
beneficially owns, within the meaning of Rule 13d-3 under the
Securities Exchange Act of 1934, as amended, the number of shares of the
Common Stock set forth adjacent to such reporting person's name: (i) the
Partnership - 2,455,285 shares (15.4% of the outstanding shares of Common
Stock), (ii) Mr. Blumenstein - 100,000 shares (0.6% of the outstanding shares
of Common Stock), (iii) Mr. Grosfeld - 155,000 shares (1.0% of the outstanding
shares of Common Stock), (iv) Mr. Ravitch - 10,000 shares (0.6% of the
outstanding shares of Common Stock), (v) Mr. Greenberg - 50,000 shares (0.3%
of the outstanding shares of Common Stock), (vi) Mr. Sachs - 5,000 shares
(0.03% of the outstanding shares of Common Stock), (vii) Mr. Vannini - 231,000
shares (1.5% of the outstanding shares of Common Stock), and (viii) Mr.
Bennett - 2,500 shares (0.02% of the outstanding shares of Common Stock) (in
each case, based upon 15,923,651 shares of Common Stock reported to be
outstanding by the Company as of August 13, 1995 in the Company's Quarterly
Report on Form 10-Q for the quarter ended June 30, 1995).
(b) Each reporting person has the power to vote and dispose of the
number of shares of Common Stock set forth next to such reporting person's
name in paragraph (a) of this Item 5, and no reporting person has the power to
vote or dispose of any shares of the Common Stock set forth in paragraph (a)
of this Item 5 as beneficially owned by another reporting person, other than
with respect to shares beneficially owned by the Partnership, which power to
vote and dispose of such shares may be exercised by its managing partner, Mr.
Berkowitz.
(c) There were no transaction in the Common Stock
effected by the reporting persons during the past 60 days, except that on
September 13, 1995, the Partnership sold 1,500 shares of Common Stock for a
purchase price of $9.00 per share in a private transaction.
(d) Not applicable.
(e) Not applicable.
Item 7. Material to be Filed as Exhibits.
Item 7 is hereby supplemented by the addition of the following:
1. Joint Acquisition Statement, dated as of September 20, 1995.
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of their
knowledge and belief, the undersigned certify that the
information set forth in this statement is true, complete and
correct.
Dated: September 20, 1995
HPB ASSOCIATES, L.P.
By: /s/ Howard P. Berkowitz
Howard P. Berkowitz,
Managing Partner
/s/ Howard P. Berkowitz
Howard P. Berkowitz
/s/ Harold Blumenstein
Harold Blumenstein
/s/ James Grosfeld
James Grosfeld
/s/ Richard Ravitch
Richard Ravitch
/s/ Cliff Greenberg
Cliff Greenberg
/s/ David Sachs
David Sachs
/s/ Jonathan Vannini
Jonathan Vannini
/s/ Carl Bennett
Carl Bennett
EXHIBIT 1
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13-d-1(f)(1)
The undersigned acknowledge and agree that the foregoing Amendment
No. 5 to the statement on Schedule 13D is filed on behalf of each of the
undersigned and that all subsequent amendments to this Amendment No. 5 to the
statement on Schedule 13D shall be filed on behalf of each of the undersigned
without the necessity of filing additional joint acquisition statements. The
undersigned acknowledge that each shall be responsible for the timely filing
of such amendments, and for the completeness and accuracy of the information
concerning him or it contained therein, but shall not be responsible for the
completeness or accuracy of the information concerning the others, except to
the extent that he or it knows or has reason to believe that such information
is inaccurate.
Dated: September 20, 1995
HPB ASSOCIATES, L.P.
By: /s/ Howard P. Berkowitz
Howard P. Berkowitz,
Managing Partner
/s/ Howard P. Berkowitz
Howard P. Berkowitz
/s/ Richard Ravitch
Richard Ravitch
/s/ Harold Blumenstein
Harold Blumenstein
/s/ James Grosfeld
James Grosfeld
/s/ Cliff Greenberg
Cliff Greenberg
/s/ David Sachs
David Sachs
/s/ Jonathan Vannini
Jonathan Vannini
/s/ Carl Bennett
Carl Bennett
