<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
---------------
SCHEDULE 13G
(RULE 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES
13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(b)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)
Pioneer Standard Electronics, Incorporated
- --------------------------------------------------------------------------------
(Name of Issuer)
Common
- --------------------------------------------------------------------------------
(Title of Class of Securities)
723877106
- --------------------------------------------------------------------------------
(CUSIP Number)
December 31, 1998
- --------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[ ] Rule 13d(c)
[ ] Rule 13d-1(d)
<PAGE> 2
CUSIP NO. 723877106 13G PAGE 2 OF 6 PAGES
--------------------- ----- -----
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
A. Wachovia Corporation 56-1473727
B. Wachovia Bank, National Association 56-0927594
---------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
---------------------------------------------------------------------
(3) SEC USE ONLY
---------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
A. Wachovia Corporation North Carolina
B. Wachovia Bank, National Association United States
---------------------------------------------------------------------
(5) SOLE VOTING POWER 0
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER 4,780,000
OWNED BY
EACH --------------------------------------------------------
REPORTING (7) SOLE DISPOSITIVE POWER 0
PERSON WITH
--------------------------------------------------------
(8) SHARED DISPOSITIVE POWER 0
--------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,780,000
---------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 18.1%
---------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
A. Wachovia Corporation HC
B. Wachovia Bank, National Association BK
---------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 3
CUSIP No. 723877106 Page 3 of 6
ITEM 1 (a) NAME OF ISSUER:
Pioneer Standard Electronics, Incorporated
ITEM 1 (b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
4800 East 131st Street
Cleveland, OH 44105
ITEM 2 (a) NAME OF PERSONS FILING:
Wachovia Corporation; and Wachovia Bank, National Association
ITEM 2 (b) ADDRESS OF PRINCIPAL BUSINESS OFFICE:
Wachovia Corporation
100 North Main Street
Winston-Salem, North Carolina 27104
Wachovia Bank, National Association
100 North Main Street
Winston-Salem, North Carolina 27104
ITEM 2 (c) CITIZENSHIP:
Wachovia Corporation North Carolina
Wachovia Bank, National Association United States
ITEM 2 (d) TITLE OF CLASS OF SECURITIES:
Common
ITEM 2 (e) CUSIP NUMBER:
723877106
ITEM 3 IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1 (B), OR
13D-3 (B) CHECK WHETHER THE PERSON FILING IS A:
(a) ( ) Broker or Dealer registered under Section 15 of the
Act,
(b) (X) Bank as defined in Section 3 (a) (6) of the Act,
(c) ( ) Insurance Company as defined in Section 3 (a) (19)
of the Act,
(d) ( ) Investment Company registered under Section 8 of the
Investment Company Act,
(e) ( ) Investment Advisor registered under Section 203 of
the Investment
<PAGE> 4
CUSIP No. 723877106 Page 4 of 6
Advisor Act of 1940,
(f) ( ) Employee Benefit Plan Pension Fund which is subject
to the provisions of the Employee Retirement Income
Security Act of 1974 or Endowment Fund.
(g) (x) Parent holding Company, in accordance with 240.13d-1
(b) (ii) (G), (Wachovia Corporation)
(h) ( ) Group, in accordance with Rule 13d-1 (b) (1) (ii)(H)
ITEM 4 OWNERSHIP:
The following information is as of December 31, 1998:
(a) Amount Beneficially Owned: 4,780,000
(b) Percent of Class: 18.1%
(c) Number of Shares as to which such person has:
(i) Sole power to vote or to direct the vote 0
(ii) Shared power to vote or to direct the
vote 4,780,000
(iii) Sole power to dispose or to direct the
disposition of 0
(iv) Shared power to dispose or to direct the
disposition of 0
ITEM 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
N/A
ITEM 6 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON:
N/A
ITEM 7 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY:
Included are the following subsidiaries of Wachovia
Corporation - HC:
Wachovia Bank, National Association - BK (wholly owned
subsidiary of Wachovia Corporation)
ITEM 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
N/A
<PAGE> 5
CUSIP No. 723877106 Page 5 of 6
ITEM 9 NOTICE OF DISSOLUTION OF GROUP.
N/A
ITEM 10 CERTIFICATION:
By signing below, I certify that, to the best of my
knowledge and belief, the securities referred to above were
not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such
securities and were not acquired in connection with or as a
participant in any transaction having such purposes or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: February 10, 1999
For: WACHOVIA CORPORATION
By: /s/ William M. Watson, Jr.
----------------------------------------------
William M. Watson, Jr.
Senior Vice President, Counsel and Secretary
For: WACHOVIA BANK, NATIONAL ASSOCIATION
By: /s/ William M. Watson, Jr.
---------------------------------------------
William M. Watson, Jr.
Senior Vice President, Counsel and Secretary
SEE AGREEMENT ATTACHED AS EXHIBIT A
<PAGE> 6
CUSIP No. 723877106 Page 6 of 6
EXHIBIT A
AGREEMENT
February 10, 1999
The understanding hereby agree to file a joint statement on Schedule
13G under the securities Exchange Act of 1934, as amended (the "Act") in
connection with their beneficial ownership of common stock issued by Wachovia
Corporation.
Each of the undersigned states that it is entitled to individually use
Schedule 13G pursuant to Rule 13d-1 (c) of the Act.
Each of the undersigned is responsible for the timely filing of the
statement and any amendments thereto, and for the completeness of the statement
and any amendments thereto, and for the completeness and accuracy of the
information concerning each of them contained therein but none is responsible
for the completeness of accuracy of the information concerning the others.
This agreement applies to any amendments to Schedule 13G.
Wachovia Corporation
/s/ William M. Watson, Jr.
- --------------------------------------------
William M. Watson, Jr.
Senior Vice President, Counsel and Secretary
Wachovia Bank, National Association
/s/ William M. Watson, Jr.
- --------------------------------------------
William M. Watson, Jr.
Senior Vice President, Counsel and Secretary
