FORM 10-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
(Mark One)
[x] Annual report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 [Fee Required]
For the fiscal year ended December 31, 1997
OR
[ ] Transition report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 [No Fee Required]
For the transition period from to
Commission File Number 0-15411
Southwest Royalties, Inc. Income Fund VI
(Exact name of registrant as specified in
its limited partnership agreement)
Tennessee 75-2127812
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
407 N. Big Spring, Suite 300, Midland, Texas 79701
(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area (915) 686-9927
Securities registered pursuant to Section 12(b) of the Act:
None
Securities registered pursuant to Section 12(g) of the Act:
limited partnership interests
Indicate by check mark whether registrant (1) has filed reports required to
be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days: Yes x No
Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K (229.405 of this chapter) is not contained herein,
and will not be contained, to the best of registrant's knowledge, in
definitive proxy or information statements incorporated by reference in
Part III of this Form 10-K or any amendment to this Form 10-K. [x]
The registrant's outstanding securities consist of Units of limited
partnership interests for which there exists no established public market
from which to base a calculation of aggregate market value.
The total number of pages contained in this report is ____. The exhibit
index is found on page 49.
<PAGE>
Table of Contents
Item Page
Part I
1. Business 3
2. Properties 7
3. Legal Proceedings 9
4. Submission of Matters to a Vote of Security Holders 9
Part II
5. Market for the Registrant's Common Equity and Related
Stockholder Matters 10
6. Selected Financial Data 11
7. Management's Discussion and Analysis of
Financial Condition and Results of Operations 12
8. Financial Statements and Supplementary Data 19
9. Changes in and Disagreements with Accountants
on Accounting and Financial Disclosure 36
Part III
10. Directors and Executive Officers of the Registrant 37
11. Executive Compensation 40
12. Security Ownership of Certain Beneficial Owners
and Management 40
13. Certain Relationships and Related Transactions 43
Part IV
14. Exhibits, Financial Statement Schedules and Reports
on Form 8-K 44
Signatures 48
<PAGE>
Part I
Item 1. Business
General
Southwest Royalties, Inc. Income Fund VI (the "Partnership" or
"Registrant") was organized as a Tennessee limited partnership on December
4, 1986. The offering of limited partnership interests began August 25,
1986, reached minimum capital requirements on October 3, 1986 and concluded
January 29, 1987. The Partnership has no subsidiaries.
The Partnership has expended its capital and acquired interests in
producing oil and gas properties. After such acquisitions, the Partnership
has produced and marketed the crude oil and natural gas produced from such
properties. In most cases, the Partnership purchased royalty or overriding
royalty interests and working interests in oil and gas properties that were
converted into net profits interests or other nonoperating interests. The
Partnership purchased either all or part of the rights and obligations
under various oil and gas leases.
The principal executive offices of the Partnership are located at 407 N.
Big Spring, Suite 300, Midland, Texas, 79701. The Managing General Partner
of the Partnership, Southwest Royalties, Inc. (the "Managing General
Partner") and its staff of 130 individuals, together with certain
independent consultants used on an "as-needed" basis, perform various
services on behalf of the Partnership, including the selection of oil and
gas properties and the marketing of production from such properties. H. H.
Wommack, III, a stockholder, director, President and Treasurer of the
Managing General Partner, is also a general partner. The Partnership has
no employees.
Principal Products, Marketing and Distribution
The Partnership has acquired and holds royalty interests and net profit
interests in oil and gas properties located in Texas, New Mexico, Wyoming,
Illinois, Colorado and Oklahoma. All activities of the Partnership are
confined to the continental United States. All oil and gas produced from
these properties is sold to unrelated third parties in the oil and gas
business.
The revenues generated from the Partnership's oil and gas activities are
dependent upon the current market for oil and gas. The prices received by
the Partnership for its oil production depend upon numerous factors beyond
the Partnership's control, including competition, economic, political and
regulatory developments and competitive energy sources, and make it
particularly difficult to estimate future prices of oil and natural gas.
<PAGE>
1997 was another volatile year in the oil market. Prices ranged from a
high of approximately $26 in the first quarter to a low near $18 per
barrel. Two contributing factors that influence the oil industry are the
strength of the economy and activity in the Middle East. Both influenced
the supply and demand of oil, and both played roles in price swings this
year. Economic expansion throughout the world enabled consumption to
surpass 70 million barrels of oil per day. However, early in the year,
producing countries failed to make up the difference in supply, placing
upward pressure on prices. U.S. production fell slightly in 1997 to
average roughly 6.4 million barrels of oil per day. Over the Thanksgiving
weekend, OPEC agreed to increase their crude oil production ceiling by
approximately 10%, but experts have said that many OPEC countries were
already producing beyond their quotas, therefore, capacity is not expected
to expand severely. Then on December 4th, the UN Security Council approved
a renewal of the Iraqi oil-for-food program. The OPEC agreement and the
UN's decision on the oil-for-food program will certainly increase the world
supply of oil and most likely depress prices in the near term. However,
world demand is expected to continue with strong growth in 1998.
The December 31, 1997 NYMEX oil price of $17.64 dropped to $14.32 as of
March 18, 1998. The price decline in the first quarter of 1998 could cause
a material write down in oil and gas properties and a possible reduction in
future distributions to investors.
Overall the 1997 average price of natural gas increased nationwide from the
1996 rates. In some areas the increase was as high as 15%. The 1996 and
1997 average prices are by far the highest realized by the industry since
1985. The 1998 average price is expected to remain above the $2.00 per
MMBTU level, however some early signs indicate that the prices will be
softer in 1998 than they were in 1997. Forecasts for a mild winter and the
lack of gas storage withdrawals are fueling speculation that the U.S. has
an excess supply of gas thus driving the prices down to the early 1996
levels.
Following is a table of the ratios of revenues received from oil and gas
production for the last three years:
Oil Gas
1997 45% 55%
1996 49% 51%
1995 48% 52%
As the table indicates, the Partnership's revenue is almost evenly divided
between its oil and gas production, the Partnership revenues will be highly
dependent upon the future prices and demands for oil and gas.
Seasonality of Business
Although the demand for natural gas is highly seasonal, with higher demand
in the colder winter months and in very hot summer months, the Partnership
has been able to sell all of its natural gas, either through contracts in
place or on the spot market at the then prevailing spot market price. As a
result, the volumes sold by the Partnership have not fluctuated materially
with the change of season.
<PAGE>
Customer Dependence
No material portion of the Partnership's business is dependent on a single
purchaser, or a very few purchasers, where the loss of one would have a
material adverse impact on the Partnership. Five purchasers accounted for
67% of the Partnership's total oil and gas production during 1997: Nustar
Joint Venture 17%, Torch Operating Company 16%, Scurlock Permian
Corporation 13%, Aquila Southwest Pipeline Corporation 11% and Enron Oil
and Transportation Incorporated 10%. Four purchasers accounted for 63% of
the Partnership's total oil and gas production during 1996: Torch
Operating Company 28%, Scurlock Permian Corporation 14%, Aquila Southwest
Pipeline Corporation 11% and Enron Oil and Transportation Inc 10%. Four
purchasers accounted for 62% of the Partnership's total oil and gas
production during 1995: Nustar Joint Venture, Aquila Southwest Pipeline,
Scurlock Permian Corp. and Enron Oil and Transportation purchased 27%, 14%,
11% and 10%, respectively. All purchasers of the Partnership's oil and gas
production are unrelated third parties. In the event any of these
purchasers were to discontinue purchasing the Partnership's production, the
Managing General Partner believes that a substitute purchaser or purchasers
could be located without undue delay. No other purchaser accounted for an
amount equal to or greater than 10% of the Partnership's sales of oil and
gas production.
Competition
Because the Partnership has utilized all of its funds available for the
acquisition of net profits or royalty interests in producing oil and gas
properties, it is not subject to competition from other oil and gas
property purchasers. See Item 2, Properties.
Factors that may adversely affect the Partnership include delays in
completing arrangements for the sale of production, availability of a
market for production, rising operating costs of producing oil and gas and
complying with applicable water and air pollution control statutes,
increasing costs and difficulties of transportation, and marketing of
competitive fuels. Moreover, domestic oil and gas must compete with
imported oil and gas and with coal, atomic energy, hydroelectric power and
other forms of energy.
Regulation
Oil and Gas Production - The production and sale of oil and gas is subject
to federal and state governmental regulation in several respects, such as
existing price controls on natural gas and possible price controls on crude
oil, regulation of oil and gas production by state and local governmental
agencies, pollution and environmental controls and various other direct and
indirect regulation. Many jurisdictions have periodically imposed
limitations on oil and gas production by restricting the rate of flow for
oil and gas wells below their actual capacity to produce and by imposing
acreage limitations for the drilling of wells. The federal government has
the power to permit increases in the amount of oil imported from other
countries and to impose pollution control measures.
<PAGE>
Various aspects of the Partnership's oil and gas activities are regulated
by administrative agencies under statutory provisions of the states where
such activities are conducted and by certain agencies of the federal
government for operations on Federal leases. Moreover, certain prices at
which the Partnership may sell its natural gas production are controlled by
the Natural Gas Policy Act of 1978, the Natural Gas Wellhead Decontrol Act
of 1989 and the regulations promulgated by the Federal Energy Regulatory
Commission.
Environmental- The Partnership's oil and gas activities are subject to
extensive federal, state and local laws and regulations governing the
generation, storage, handling, emission, transportation and discharge of
materials into the environment. Governmental authorities have the power to
enforce compliance with their regulations, and violations carry substantial
penalties. This regulatory burden on the oil and gas industry increases
its cost of doing business and consequently affects its profitability. The
Managing General Partner is unable to predict what, if any, effect
compliance will have on the Partnership.
Industry Regulations and Guidelines - Certain industry regulations and
guidelines apply to the registration, qualification and operation of oil
and gas programs in the form of limited partnerships. The Partnership is
subject to these guidelines which regulate and restrict transactions
between the Managing General Partner and the Partnership. The Partnership
complies with these guidelines and the Managing General Partner does not
anticipate that continued compliance will have a material adverse effect on
Partnership operations.
Partnership Employees
The Partnership has no employees; however, the Managing General Partner has
a staff of geologists, engineers, accountants, landmen and clerical staff
who engage in Partnership activities and operations and perform additional
services for the Partnership as needed. In addition to the Managing
General Partner's staff, the Partnership engages independent consultants
such as petroleum engineers and geologists as needed. As of December 31,
1997, there were 130 individuals directly employed by the Managing General
Partner in various capacities.
<PAGE>
Item 2. Properties
In determining whether an interest in a particular producing property was
to be acquired, the Managing General Partner considered such criteria as
estimated oil and gas reserves, estimated cash flow from the sale of
production, present and future prices of oil and gas, the extent of
undeveloped and unproved reserves, the potential for secondary, tertiary
and other enhanced recovery projects and the availability of markets.
As of December 31, 1997, the Partnership possessed an interest in oil and
gas properties located in Jackson, Rio Blanco and Weld Counties of
Colorado; Clinton, Lawrence and Marion Counties of Illinois; Eddy County of
New Mexico; Alfalfa, Beaver, Caddo, Ellis, Garvin, Haskell, Latimer,
Leflore, Logan, McClain, Noble, Pottawatomie, Roger Mills, Seminole, Woods
and Woodward Counties of Oklahoma; Brazos, Burleson, Coke, Crane, Eastland,
Ector, Fayette, Gaines, Glasscock, Jim Wells, Lee, Lipscomb, Martin,
Midland, Mitchell, Moore, Nolan, Pecos, Reagan, Reeves, Roberts,
Robertson, Runnels, Sterling, Upton, Ward and Winkler Counties of Texas;
Campbell, Crook and Freemont Counties of Wyoming. These properties consist
of various interests in approximately 253 wells and units.
Due to the Partnership's objective of maintaining current operations
without engaging in the drilling of any developmental or exploratory wells,
or additional acquisitions of producing properties, there has not been any
significant changes in properties during 1997, 1996 and 1995.
Upon a determination by Management that they were either not profitable to
own or Management received an offer that exceeded the leases reserves, the
following leases were sold.
During 1997, one lease was sold for approximately $20,000. The Concho was
sold effective June 1997. During 1996, nine leases were sold for
approximately $16,400. The IRT was sold effective June 1995, Rocky Point
Shallow, McMillian and NW 32 were sold effective September 1995, Hendry,
Worsham and Wilkinson were sold effective April 1996 and the FNB and USA
McBride were sold effective May 1996. During 1995, six leases were sold
for approximately $42,500. The Moyer #2, Moyer Gas Unit, Sparkman #2,
McEntire, Terry and R.D. Jones were sold effective November 1995.
<PAGE>
Significant Properties
The following table reflects the significant properties in which the
Partnership has an interest:
Date
Purchased No. of Proved Reserves*
Name and Location and Interest Wells Oil (bbls) Gas (mcf)
- ----------------- ------------ ------ ---------- ---------
Mary Shirk 12/86 at 3% 7 74,712 682,296
Upton County, to 50% net
Texas profits
interests
Mobil Amacker 7/87 at 23% 10 43,159 1,790,566
Tippet to 100% net
Upton County, profits
Texas interests
Enron/Rhoda 4/87 at 2% 43 319,351 1,151,957
Walker to 100% net
Ward County, profits
Texas interests
*The reserve estimates were prepared as of January 1, 1998, by Donald R.
Creamer, P.E., an independent registered petroleum engineer. The reserve
estimates were made in accordance with guidelines established by the
Securities and Exchange Commission pursuant to Rule 4-10(a) of Regulation S-
X. Such guidelines require oil and gas reserve reports be prepared under
existing economic and operating conditions with no provisions for price and
cost escalation except by contractual arrangements.
The New York Mercantile Exchange price at December 31, 1997 of $17.64 was
used as the beginning basis for the oil price. Oil price adjustments from
$17.64 per barrel were made in the individual evaluations to reflect oil
quality, gathering and transportation costs. The results are an average
price received at the lease of $16.24 per barrel in the preparation of the
reserve report as of January 1, 1998.
In the determination of the gas price, the New York Mercantile Exchange
price at December 31, 1997 of $2.26 was used as the beginning basis. Gas
price adjustments from $2.26 per Mcf were made in the individual
evaluations to reflect BTU content, gathering and transportation costs and
gas processing and shrinkage. The results are an average price received at
the lease of $2.35 per Mcf in the preparation of the reserve report as of
January 1, 1998.
<PAGE>
As also discussed in Part II, Item 7, Management's Discussion and Analysis
of Financial Condition and Results of Operations, oil and gas prices were
subject to frequent changes in 1997.
The evaluation of oil and gas properties is not an exact science and
inevitably involves a significant degree of uncertainty, particularly with
respect to the quantity of oil or gas that any given property is capable of
producing. Estimates of oil and gas reserves are based on available
geological and engineering data, the extent and quality of which may vary
in each case and, in certain instances, may prove to be inaccurate.
Consequently, properties may be depleted more rapidly than the geological
and engineering data have indicated.
Unanticipated depletion, if it occurs, will result in lower reserves than
previously estimated; thus an ultimately lower return for the Partnership.
Basic changes in past reserve estimates occur annually. As new data is
gathered during the subsequent year, the engineer must revise his earlier
estimates. A year of new information, which is pertinent to the estimation
of future recoverable volumes, is available during the subsequent year
evaluation. In applying industry standards and procedures, the new data
may cause the previous estimates to be revised. This revision may increase
or decrease the earlier estimated volumes. Pertinent information gathered
during the year may include actual production and decline rates, production
from offset wells drilled to the same geologic formation, increased or
decreased water production, workovers, and changes in lifting costs, among
others. Accordingly, reserve estimates are often different from the
quantities of oil and gas that are ultimately recovered.
The Partnership has reserves which are classified as proved developed
producing, proved developed non-producing and proved undeveloped. All of
the proved reserves are included in the engineering reports which evaluate
the Partnership's present reserves.
Because the Partnership does not engage in drilling activities, the
development of proved undeveloped reserves is conducted pursuant to farmout
arrangements with the Managing General Partner or unrelated third parties.
Generally, the Partnership retains a carried interest such as an overriding
royalty interest under the terms of a farmout, or receives cash.
The Partnership or the owners of properties in which the Partnership owns
an interest can engage in workover projects or supplementary recovery
projects, for example, to extract behind the pipe reserves which qualify as
proved developed non-producing reserves. See Part II, Item 7, Management's
Discussion and Analysis of Financial Condition and Results of Operations.
Item 3. Legal Proceedings
There are no material pending legal proceedings to which the Partnership is
a party.
Item 4. Submission of Matters to a Vote of Security Holders
No matter was submitted to a vote of security holders during the fourth
quarter of 1997 through the solicitation of proxies or otherwise.
<PAGE>
Part II
Item 5. Market for the Registrant's Common Equity and Related Stockholder
Matters
Market Information
Limited partnership interests, or units, in the Partnership were initially
offered and sold for a price of $500. Limited partner units are not traded
on any exchange and there is no public or organized trading market for
them. The Managing General Partner has become aware of certain limited and
sporadic transfers of units between limited partners and third parties, but
has no verifiable information regarding the prices at which such units have
been transferred. Further, a transferee may not become a substitute
limited partner without the consent of the Managing General Partner.
After completion of the Partnership's first full fiscal year of operations
and each year thereafter, the Managing General Partner has offered and will
continue to offer to purchase each limited partner's interest in the
Partnership, at a price based on tangible assets of the Partnership, plus
the present value of the future net revenues of proved oil and gas
properties, minus liabilities with a risk factor discount of up to one-
third which may be implemented at the sole discretion of the Managing
General Partner. However, the Managing General Partner's obligation to
purchase limited partner units is limited to an expenditure of an amount
not in excess of 10% of the total limited partner units initially
subscribed for by limited partners. In 1997, 940 limited partner units
were tendered to and purchased by the Managing General Partner at an
average base price of $285.09 per unit. In 1996, 386 limited partner units
were tendered to and purchased by the Managing General Partner at an
average base price of $183.01 per unit. During 1995, 127 limited partner
units were tendered to and purchased by the Managing General Partner at an
average base price of $151.46 per unit.
Number of Limited Partner Interest Holders
As of December 31, 1997 there were 876 holders of limited partner units in
the Partnership.
Distributions
Pursuant to Article IV, Section 4.01 of the Partnership's Certificate and
Agreement of Limited Partnership "Net Cash Flow" is distributed to the
partners on a monthly basis. "Net Cash Flow" is defined as "the cash
generated by the Partnership's investments in producing oil and gas
properties, less (i) General and Administrative Costs, (ii) Operating
Costs, and (iii) any reserves necessary to meet current and anticipated
needs of the Partnership, as determined at the sole discretion of the
Managing General Partner."
<PAGE>
During 1997, twelve monthly distributions were made totaling $929,000, with
$836,100 distributed to the limited partners and $92,900 to the general
partners. For the year ended December 31, 1997, distributions of $41.81
per limited partner unit were made, based upon 20,000 limited partner units
outstanding. During 1996, twelve monthly distributions were made totaling
$1,138,887, with $1,025,487 distributed to the limited partners and
$113,400 to the general partners. For the year ended December 31, 1996,
distributions of $51.27 per limited partner unit were made, based upon
20,000 limited partner units outstanding. During 1995, twelve monthly
distributions were made totaling $1,009,341, with $910,141 distributed to
the limited partners and $99,200 to the general partners. For the year
ended December 31, 1995, distributions of $45.51 per limited partner unit
were made, based on 20,000 limited partner units outstanding.
Item 6. Selected Financial Data
The following selected financial data for the years ended December 31,
1997, 1996, 1995, 1994 and 1993 should be read in conjunction with the
financial statements included in Item 8:
Years ended December 31,
------------------------------------------------------------
1997 1996 1995 1994 1993
---- ---- ---- ---- ----
Revenues $ 964,866 1,317,978 1,030,181 1,125,877 1,206,853
Net income 526,063 934,674 610,015 592,353 438,100
Partners' share
of net income:
General partners 52,607 93,468 61,001 59,235 43,810
Limited partners 473,456 841,206 549,014 533,118 394,290
Limited partners'
net income per
unit 23.67 42.06 27.45 26.66
19.71
Limited partners'
cash distributions
per unit 41.81 51.27 45.51 36.68
48.96
Total assets $2,641,528 3,044,532 3,249,010 3,648,821 3,871,224
<PAGE>
Item 7. Management's Discussion and Analysis of Financial Condition and
Results of Operations
General
The Partnership was formed to acquire nonoperating interests in producing
oil and gas properties, to produce and market crude oil and natural gas
produced from such properties and to distribute any net proceeds from
operations to the general and limited partners. Net revenues from
producing oil and gas properties are not reinvested in other revenue
producing assets except to the extent that producing facilities and wells
are reworked or where methods are employed to improve or enable more
efficient recovery of oil and gas reserves. The economic life of the
Partnership thus depends on the period over which the Partnership's oil and
gas reserves are economically recoverable.
Increases or decreases in Partnership revenues and, therefore,
distributions to partners will depend primarily on changes in the prices
received for production, changes in volumes of production sold, lease
operating expenses, enhanced recovery projects, offset drilling activities
pursuant to farmout arrangements and on the depletion of wells. Since
wells deplete over time, production can generally be expected to decline
from year to year.
Well operating costs and general and administrative costs usually decrease
with production declines; however, these costs may not decrease
proportionately. Net income available for distribution to the limited
partners has fluctuated over the past few years and is expected to
fluctuate in later years based on these factors.
Based on current conditions, management anticipates performing workovers
during the next five years to enhance production. The Partnership has the
opportunity for potential increases with normal decline.
<PAGE>
Results of Operations
A. General Comparison of the Years Ended December 31, 1997 and 1996
The following table provides certain information regarding performance
factors for the years ended December 31, 1997 and 1996:
Year Ended Percentage
December 31, Increase
1997 1996 (Decrease)
---- ---- ---------
Average price per barrel of oil $ 18.81 21.12 (11%)
Average price per mcf of gas $ 2.44 2.43 -
Oil production in barrels 50,100 56,200 (11%)
Gas production in mcf 471,100 503,600 (6%)
Income from net profits interests $ 955,069 1,312,524 (27%)
Partnership distributions $ 929,000 1,138,887 (18%)
Limited partner distributions $ 836,100 1,025,487 (18%)
Per unit distribution to limited partners $ 41.81 51.27
(18%)
Number of limited partner units 20,000 20,000
Revenues
The Partnership's income from net profits interests decreased to $955,069
from $1,312,524 for the years ended December 31, 1997 and 1996,
respectively, a decrease of 27%. The principal factors affecting the
comparison of the years ended December 31, 1997 and 1996 are as follows:
1. The average price for a barrel of oil received by the Partnership
decreased during the year ended December 31, 1997 as compared to the
year ended December 31, 1996 by 11%, or $2.31 per barrel, resulting in
a decrease of approximately $130,000 in income from net profits
interests. Oil sales represented 45% of total oil and gas sales during
the year ended December 31, 1997 as compared to 49% during the year
ended December 31, 1996.
The average price for an mcf of gas received by the Partnership
increased during the same period by less than one percent, or $.01 per
mcf, resulting in an increase of approximately $5,000 in income from
net profits interests.
The net total decrease in income from net profits interests due to the
change in prices received from oil and gas production is approximately
$125,000. The market price for oil and gas has been extremely volatile
over the past decade and management expects a certain amount of
volatility to continue in the foreseeable future.
<PAGE>
2. Oil production decreased approximately 6,100 barrels or 11% during the
year ended December 31, 1997 as compared to the year ended December 31,
1996, resulting in a decrease of approximately $115,000 in income from
net profits interests.
Gas production decreased approximately 32,500 mcf or 6% during the same
period, resulting in a decrease of approximately $79,000 in income from
net profits interests.
The total decrease in income from net profits interests due to the
change in production is approximately $194,000. Decrease is in part
due to normal decline and scaling and downtime.
3. Lease operating costs and production taxes were 4% higher, or
approximately $39,000 more during the year ended December 31, 1997 as
compared to the year ended December 31, 1996.
Costs and Expenses
Total costs and expenses increased to $438,803 from $383,304 for the years
ended December 31, 1997 and 1996, respectively, an increase of 14%. The
increase is primarily the result of higher depletion expense.
1. General and administrative costs consists of independent accounting and
engineering fees, computer services, postage, and Managing General
Partner personnel costs. General and administrative costs decreased
less than one percent or approximately $500 during the year ended
December 31, 1997 as compared to the year ended December 31, 1996.
Depletion expense increased to $281,000 for the year ended December 31,
1997 from $225,000 for the same period in 1996. This represents an
increase of 25%. Depletion is calculated using the units of revenue
method of amortization based on a percentage of current period gross
revenues to total future gross oil and gas revenues, as estimated by
the Partnership's independent petroleum consultants.
A contributing factor to the increase in depletion expense between the
comparative periods was the decrease in the price of oil and gas used
to determine the Partnership's reserves for January 1, 1998 as compared
to 1997. Another contributing factor was due to the impact of
revisions of previous estimates on reserves. Revisions of previous
estimates can be attributed to the changes in production performance,
oil and gas price and production costs. The impact of the revision
would have increased depletion expense approximately $52,000 as of
December 31, 1996.
<PAGE>
Results of Operations
B. General Comparison of the Years Ended December 31, 1996 and 1995
The following table provides certain information regarding performance
factors for the years ended December 31, 1996 and 1995:
Year ended Percentage
December 31, Increase
1996 1995 (Decrease)
---- ---- ----------
Average price per barrel of oil $ 21.12 16.81 26%
Average price per mcf of gas $ 2.43 1.82 34%
Oil production in barrels 56,200 60,500 (7%)
Gas production in mcf 503,600 602,000 (16%)
Income from net profits interests $1,312,524 1,024,661 28%
Partnership distributions $1,138,887 1,009,341 13%
Limited partner distributions $1,025,487 910,141 13%
Per unit distribution to limited
partners $ 51.27 45.51 13%
Number of limited partner units 20,000 20,000
Revenues
The Partnership's income from net profits interests increased to $1,312,524
from $1,024,661 for the years ended December 31, 1996 and 1995,
respectively, an increase of 28%. The principal factors affecting the
comparison of the years ended December 31, 1996 and 1995 are as follows:
1. The average price for a barrel of oil received by the Partnership
increased during the year ended December 31, 1996 as compared to the
year ended December 31, 1995 by 26%, or $4.31 per barrel, resulting in
an increase of approximately $260,800 in income from net profits
interests. Oil sales represented 49% of total oil and gas sales during
the year ended December 31, 1996 as compared to 48% during the year
ended December 31, 1995.
The average price for an mcf of gas received by the Partnership
increased during the same period by 34%, or $.61 per mcf, resulting in
an increase of approximately $367,200 in income from net profits
interests.
The total increase in income from net profits interests due to the
change in prices received from oil and gas production is approximately
$628,000. The market price for oil and gas has been extremely volatile
over the past decade, and management expects a certain amount of
volatility to continue in the foreseeable future.
2. Oil production decreased approximately 4,300 barrels or 7% during the
year ended December 31, 1996 as compared to the year ended December 31,
1995, resulting in a decrease of approximately $90,800 in income from
net profits interests.
<PAGE>
Gas production decreased approximately 98,400 mcf or 16% during the
same period, resulting in a decrease of approximately $239,100 in
income from net profits interests.
The total decrease in income from net profits interests due to the
change in production is approximately $329,900. The decrease is
primarily attributable to property sales and two wells temporarily shut-
in by the gas purchaser due to gas line problems.
3. Lease operating costs and production taxes were 1% higher, or
approximately $13,300 more during the year ended December 31, 1996 as
compared to the year ended December 31, 1995.
Costs and Expenses
Total costs and expenses decreased to $383,304 from $420,166 for the years
ended December 31, 1996 and 1995, respectively, a decrease of 9%. The
decrease is the result of lower general and administrative expense and
depletion expense.
1. General and administrative costs consists of independent accounting and
engineering fees, computer services, postage, and Managing General
Partner personnel costs. General and administrative costs decreased 2%
or approximately $2,900 during the year ended December 31, 1996 as
compared to the year ended December 31, 1995.
2. Depletion expense decreased to $225,000 for the year ended December 31,
1996 from $259,000 for the same period in 1995. This represents a
decrease of 13%. Depletion is calculated using the units of revenue
method of amortization based on a percentage of current period gross
revenues to total future gross oil and gas revenues, as estimated by
the Partnership's independent petroleum consultants.
A contributing factor to the decline in depletion expense between the
comparative periods was the increase in the price of oil and gas used
to determine the Partnership's reserves for January 1, 1997 as compared
to 1996. Another contributing factor was due to the impact of
revisions of previous estimates on reserves. Revisions of previous
estimates can be attributed to the changes in production performance,
oil and gas price and production costs. The impact of the revision
would have decreased depletion expense approximately $32,000 as of
December 31, 1995.
<PAGE>
C. Revenue and Distribution Comparison
Partnership net income for the years ended December 31, 1997, 1996 and 1995
was $526,063 in 1997, $934,674 in 1996 and $610,015 in 1995. Excluding the
effects of depreciation, depletion and amortization, net income for the
years ended December 31, 1997, 1996 and 1995 would have been $807,063,
$1,159,674 and $869,015, respectively. Correspondingly, Partnership
distributions for the years ended December 31, 1997, 1996 and 1995 were
$929,000, $1,138,887 and $1,009,341, respectively. These differences are
indicative of the changes in oil and gas prices, production and properties
during 1997, 1996 and 1995.
The sources for the 1997 distributions of $929,000 were oil and gas
operations of approximately $893,500 and the change in oil and gas
properties of approximately $10,800, with the balance from available cash
on hand at the beginning of the period. The sources for the 1996
distributions of $1,138,887 were oil and gas operations of approximately
$1,061,300 and property sales of approximately $16,400, with the balance
from available cash on hand at the beginning of the period. The sources
for the 1995 distributions of 1,009,341 were oil and gas operations of
approximately $952,300 and property sales of approximately $42,500, with
the balance from available cash on hand at the beginning of the period.
Total distributions during the year ended December 31, 1997 were $929,000
of which $836,100 was distributed to the limited partners and $92,900 to
the general partners. The per unit distribution to limited partners during
the same period was $41.81. Total distributions during the year ended
December 31, 1996 were $1,138,887 of which $1,025,487 was distributed to
the limited partners and $113,400 to the general partners. The per unit
distribution to limited partners during the same period was $51.27. Total
distributions during the year ended 1995 were $1,009,341 of which $910,141
was distributed to the limited partners and $99,200 to the general
partners. The per unit distribution to limited partners during the same
period was $45.51.
Since inception of the Partnership, cumulative monthly cash distributions
of $14,236,498 have been made to the partners. As of December 31, 1997,
$12,826,021 or $641.30 per limited partner unit, has been distributed to
the limited partners, representing a 128% return of the capital
contributed.
<PAGE>
Liquidity and Capital Resources
The primary source of cash is from operations, the receipt of income from
net profits interests in oil and gas properties. The Partnership knows of
no material change, nor does it anticipate any such change.
The December 31, 1997 NYMEX oil price of $17.64 dropped to $14.32 as of
March 18, 1998. The price decline in the first quarter of 1998 could cause
a material write down in oil and gas properties and a possible reduction in
future distributions to investors.
Cash flows provided by operating activities were approximately $893,500 in
1997 compared to approximately $1,061,300 in 1996 and approximately
$952,300 in 1995. The primary source of the 1997 cash flow from operating
activities was profitable operations.
Cash flows provided by investing activities were approximately $10,800 in
1997 compared to approximately $16,400 in 1996 and approximately $42,500 in
1995. The primary source of the 1997 cash flow from investing activities
was the sale of oil and gas properties.
Cash flows used in financing activities were approximately $929,000 in 1997
compared to approximately $1,139,200 in 1996 and approximately $1,009,100
in 1995. The only use in financing activities was the distributions to
partners.
As of December 31, 1997, the Partnership had approximately $312,300 in
working capital. The Managing General Partner knows of no unusual
contractual commitments and believes the revenue generated from operations
are adequate to meet the needs of the Partnership.
Information Systems for the Year 2000
The Managing General Partner provides all data processing needs of the
Partnership. The Managing General Partner has reviewed and evaluated its
information systems to determine if its systems accurately process data
referencing the year 2000. Primarily all necessary programming
modifications to correct year 2000 referencing in the Managing General
Partners internal accounting and operating systems have been made to-date.
However the Managing General Partner has not completed its evaluation of
its vendors and suppliers systems to determine the effect, if any, the non-
compliance of such systems would have on the operation of the Managing
General Partnership or the operations of the Partnership.
<PAGE>
Item 8. Financial Statements and Supplementary Data
Index to Financial Statements
Page
Independent Auditors Reports 20
Balance Sheets 22
Statements of Operations 23
Statement of Changes in Partners' Equity 24
Statements of Cash Flows 25
Notes to Financial Statements 27
<PAGE>
INDEPENDENT AUDITORS REPORT
The Partners
Southwest Royalties, Inc. Income Fund VI
(A Tennessee Limited Partnership):
We have audited the accompanying balance sheet of Southwest Royalties, Inc.
Income Fund VI (the "Partnership") as of December 31, 1997, and the related
statement of operations, changes in partners' equity and cash flows for the
year then ended. These financial statements are the responsibility of the
Partnership's management. Our responsibility is to express an opinion on
these financial statements based on our audit.
We conducted our audit 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 audit
provides reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly,
in all material respects, the financial position of Southwest Royalties,
Inc. Income Fund VI as of December 31, 1997 and the results of its
operations and its cash flows for the year then ended in conformity with
generally accepted accounting principles.
KPMG Peat Marwick LLP
Midland, Texas
March 18, 1998
<PAGE>
REPORT OF INDEPENDENT ACCOUNTANTS
To the Partners
Southwest Royalties, Inc.
Income Fund VI
Midland, Texas
We have audited the accompanying balance sheet of Southwest Royalties, Inc.
Income Fund VI as of December 31, 1996, and the related statements of
operations, changes in partners' equity and cash flows for the years ended
December 31, 1996 and 1995. These financial statements are the
responsibility of the partnership'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 financial position of Southwest Royalties,
Inc. Income Fund VI as of December 31, 1996, and the results of its
operations and its cash flows for the years ended December 31, 1996 and
1995, in conformity with generally accepted accounting principles.
JOSEPH DECOSIMO AND COMPANY
A Tennessee Registered Limited Liability
Partnership
Chattanooga, Tennessee
March 14, 1997
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Balance Sheets
December 31, 1997 and 1996
1997 1996
---- ----
Assets
Current assets:
Cash and cash equivalents $ 40,719 65,438
Receivable from Managing General Partner 251,738 338,190
Other receivable 20,000 -
- --------- ---------
Total current assets
312,457 403,628
- --------- ---------
Oil and gas properties - using the full-
cost method of accounting 8,505,071 8,535,904
Less accumulated depreciation,
depletion and amortization
6,176,000 5,895,000
- --------- ---------
Net oil and gas properties
2,329,071 2,640,904
- --------- ---------
$
2,641,528 3,044,532
========= =========
Liabilities and Partners' Equity
Current liability - Distribution payable $ 203 270
- --------- ---------
Partners' equity:
General partners (592,733) (552,440)
Limited partners 3,234,058 3,596,702
- --------- ---------
Total partners' equity
2,641,325 3,044,262
- --------- ---------
$
2,641,528 3,044,532
========= =========
The accompanying notes are an integral
part of these financial statements.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Statements of Operations
Years ended December 31, 1997, 1996 and 1995
1997 1996
1995
---- ----
- ----
Revenues
Income from net profits interests $ 955,069 1,312,5241,024,661
Interest 9,797 5,454 5,520
-------
- --------- ---------
964,866
1,317,978 1,030,181
-------
- --------- ---------
Expenses
General and administrative 157,803 158,304 161,166
Depreciation, depletion and amortization 281,000 225,000 259,000
-------
- --------- ---------
438,803
383,304 420,166
-------
- --------- ---------
Net income $ 526,063 934,674 610,015
=======
========= =========
Net income allocated to:
Managing General Partner $ 47,346 84,121 54,901
=======
========= =========
General partner $ 5,261 9,347 6,100
=======
========= =========
Limited partners $ 473,456 841,206 549,014
=======
========= =========
Per limited partner unit $ 23.67 42.06 27.45
=======
========= =========
The accompanying notes are an integral
part of these financial statements.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Statement of Changes in Partners' Equity
Years ended December 31, 1997, 1996 and 1995
General Limited
Partners Partners Total
-------- -------- -----
Balance at December 31, 1994 $ (494,309) 4,142,110 3,647,801
Net income 61,001 549,014 610,015
Distributions (99,200) (910,141)(1,009,341)
--------
- ---------- ----------
Balance at December 31, 1995 (532,508) 3,780,983 3,248,475
Net income 93,468 841,206 934,674
Distributions (113,400) (1,025,487)(1,138,887)
--------
- ---------- ----------
Balance at December 31, 1996 (552,440) 3,596,702 3,044,262
Net income 52,607 473,456 526,063
Distributions (92,900) (836,100) (929,000)
--------
- ---------- ----------
Balance at December 31, 1997 $ (592,733) 3,234,058 2,641,325
========
========== ==========
The accompanying notes are an integral
part of these financial statements.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Statements of Cash Flows
Years ended December 31, 1997, 1996 and 1995
1997 1996
1995
---- ----
- ----
Cash flows from operating activities:
Cash received from net profits interests $ 1,041,521 1,213,9801,108,756
Cash paid to Managing General Partner
for administrative fees and general
and administrative overhead
(157,803) (158,182)(161,988)
Interest received 9,797 5,454 5,520
---------
- ---------- ---------
Net cash provided by operating activities 893,5151,061,252
952,288
---------
- ---------- ---------
Cash provided by investing activities:
Cash received from sale of oil and gas
properties 10,833 16,397 42,477
---------
- ---------- ---------
Cash used in financing activities:
Distributions to partners (929,067)(1,139,152)(1,009,1
26)
---------
- ---------- ---------
Net decrease in cash and cash equivalents (24,719) (61,503) (14,361)
Beginning of year 65,438 126,941 141,302
---------
- ---------- ---------
End of year $ 40,719 65,438 126,941
=========
========== =========
(continued)
The accompanying notes are an integral
part of these financial statements.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Statements of Cash Flows, continued
Years ended December 31, 1997, 1996 and 1995
1997 1996
1995
---- ----
- ----
Reconciliation of net income to net cash
provided by operating activities:
Net income $ 526,063 934,674 610,015
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation, depletion and amortization 281,000 225,000
259,000
(Increase) decrease in receivables 86,452 (98,422) 83,973
Increase (decrease) in payables - - (700)
-------
- --------- -------
Net cash provided by operating activities $ 893,515 1,061,252 952,288
=======
========= =======
Supplemental schedule of noncash investing
and financing activities:
Sale of oil and gas property included in
receivable from Managing General Partner $ 20,000 -
- -
================
=======
The accompanying notes are an integral
part of these financial statements.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Notes to Financial Statements
1. Organization
Southwest Royalties, Inc. Income Fund VI was organized under the
laws of the state of Tennessee on December 4, 1986, for the purpose of
acquiring producing oil and gas properties and to produce and market
crude oil and natural gas produced from such properties for a term of
50 years, unless terminated at an earlier date as provided for in the
Partnership Agreement. The Partnership sells its oil and gas
production to a variety of purchasers with the prices it receives being
dependent upon the oil and gas economy. Southwest Royalties, Inc.
serves as the Managing General Partner and H. H. Wommack, III, as the
individual general partner. Revenues, costs and expenses are allocated
as follows:
Limited General
Partners Partners
-------- --------
Interest income on capital contributions 100% -
Oil and gas sales 90% 10%
All other revenues 90% 10%
Organization and offering costs (1) 100% -
Amortization of organization costs 100% -
Property acquisition costs 100% -
Gain/loss on property disposition 90% 10%
Operating and administrative costs (2) 90% 10%
Depreciation, depletion and amortization
of oil and gas properties 90% 10%
All other costs 90% 10%
(1)All organization costs in excess of 3% of initial capital
contributions will be paid by the Managing General Partner and
will be treated as a capital contribution. The Partnership paid
the Managing General Partner an amount equal to 3% of initial
capital contributions for such organization costs.
(2)Administrative costs in any year which exceed 2% of capital
contributions shall be paid by the Managing General Partner and
will be treated as a capital contribution.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Notes to Financial Statements
2. Summary of Significant Accounting Policies
Oil and Gas Properties
Oil and gas properties are accounted for at cost under the full-cost
method. Under this method, all productive and nonproductive costs
incurred in connection with the acquisition, exploration and
development of oil and gas reserves are capitalized. Gain or loss on
the sale of oil and gas properties is not recognized unless significant
oil and gas reserves are involved.
The Partnership's policy for depreciation, depletion and amortization
of oil and gas properties is computed under the units of revenue
method. Under the units of revenue method, depreciation, depletion and
amortization is computed on the basis of current gross revenues from
production in relation to future gross revenues, based on current
prices, from estimated production of proved oil and gas reserves.
Under the units of revenue method, the Partnership computes the
provision by multiplying the total unamortized cost of oil and gas
properties by an overall rate determined by dividing (a) oil and gas
revenues during the period by (b) the total future gross oil and gas
revenues as estimated by the Partnership's independent petroleum
consultants. It is reasonably possible that those estimates of
anticipated future gross revenues, the remaining estimated economic
life of the product, or both could be changed significantly in the near
term due to the potential fluctuation of oil and gas prices or
production. The depletion estimate would also be affected by this
change.
Should the net capitalized costs exceed the estimated present value of
oil and gas reserves, discounted at 10%, such excess costs would be
charged to current expense. As of December 31, 1997, 1996 and 1995,
the net capitalized costs did not exceed the estimated present value of
oil and gas reserves.
The Partnership's interest in oil and gas properties consists of net
profits interests in proved properties located within the continental
United States. A net profits interest is created when the owner of a
working interest in a property enters into an arrangement providing
that the net profits interest owner will receive a stated percentage of
the net profit from the property. The net profits interest owner will
not otherwise participate in additional costs and expenses of the
property.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Notes to Financial Statements
2. Summary of Significant Accounting Policies - continued
Estimates and Uncertainties
The preparation of financial statements in conformity with generally
accepted accounting principles requires management 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. Actual results could differ
from those estimates.
Syndication Costs
Syndication costs are accounted for as a reduction of partnership
equity.
Environmental Costs
The Partnership is subject to extensive federal, state and local
environmental laws and regulations. These laws, which are constantly
changing, regulate the discharge of materials into the environment and
may require the Partnership to remove or mitigate the environmental
effects of the disposal or release of petroleum or chemical substances
at various sites. Environmental expenditures are expensed or
capitalized depending on their future economic benefit. Costs which
improve a property as compared with the condition of the property when
originally constructed or acquired and costs which prevent future
environmental contamination are capitalized. Expenditures that relate
to an existing condition caused by past operations and that have no
future economic benefits are expensed. Liabilities for expenditures of
a non-capital nature are recorded when environmental assessment and/or
remediation is probable, and the costs can be reasonably estimated.
Gas Balancing
The Partnership utilizes the sales method of accounting for gas-
balancing arrangements. Under this method the Partnership recognizes
sales revenue on all gas sold. As of December 31, 1997, 1996 and 1995,
the Partnership was under produced by 16,527, 16,728 and 17,104 mcf of
gas, respectively.
Income Taxes
No provision for income taxes is reflected in these financial
statements, since the tax effects of the Partnership's income or loss
are passed through to the individual partners.
In accordance with the requirements of Statement of Financial
Accounting Standards No. 109, "Accounting for Income Taxes", the
Partnership's tax basis in its net oil and gas properties at December
31, 1997 and 1996 is $938,887 and $918,466, respectively, less than
that shown on the accompanying Balance Sheets in accordance with
generally accepted accounting principles.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Notes to Financial Statements
2. Summary of Significant Accounting Policies - continued
Cash and Cash Equivalents
For purposes of the statements of cash flows, the Partnership considers
all highly liquid debt instruments purchased with a maturity of three
months or less to be cash equivalents. The Partnership maintains its
cash at one financial institution.
Number of Limited Partner Units
As of December 31, 1997, 1996 and 1995, there were 20,000 limited
partner units outstanding held by 876 partners.
Concentrations of Credit Risk
The Partnership is subject to credit risk through trade receivables.
Although a substantial portion of its debtors' ability to pay is
dependent upon the oil and gas industry, credit risk is minimized due
to a large customer base. All partnership revenues are received by the
Managing General Partner and subsequently remitted to the partnership
and all expenses are paid by the Managing General Partner and
subsequently reimbursed by the partnership.
Fair Value of Financial Instruments
The carrying amount of cash and accounts receivable approximates fair
value due to the short maturity of these instruments.
Recent Accounting Pronouncements
In June 1997, the FASB issued "Reporting Comprehensive Income," SFAS
No. 130, which establishes standards for reporting and display of
comprehensive income and its components in a full set of general-
purpose financial statements. Specifically, this statements requires
that an enterprise (i) classify items of other comprehensive income by
their nature in a financial statement and (ii) display the accumulated
balance of other comprehensive income separately from retained earnings
and additional paid-in capital in the equity section of a statement of
financial position. This statement is effective for fiscal years
beginning after December 15, 1997. The Partnership anticipates
adoption of SFAS No. 130 in its year ended December 31, 1998 financial
statements.
Comprehensive income consists of the change in equity of a business
enterprise during a period from transactions and other events and
circumstances from nonowner sources. Specifically, this includes net
income and other comprehensive income, which is made up of certain
changes in assets and liabilities that are not reported in a statement
of operations but are included in the balances within a separate
component of equity in a statement of financial position. Such changes
include, but are not limited to, unrealized gains for marketable
securities and futures contracts, foreign currency translation
adjustments and minimum pension liability adjustments.
Net Income (loss) per limited partnership unit
The net income (loss) per limited partnership unit is calculated by
using the number of outstanding limited partnership units.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Notes to Financial Statements
3. Commitments and Contingent Liabilities
After completion of the Partnership's first full fiscal year of
operations and each year thereafter, the Managing General Partner has
offered and will continue to offer to purchase each limited partner's
interest in the Partnership, at a price based on tangible assets of the
Partnership, plus the present value of the future net revenues of
proved oil and gas properties, minus liabilities with a risk factor
discount of up to one-third which may be implemented at the sole
discretion of the Managing General Partner. However, the Managing
General Partner's obligation to purchase limited partner units is
limited to an expenditure of an amount not in excess of 10% of the
total limited partner units initially subscribed for by limited
partners.
The Partnership is subject to various federal, state and local
environmental laws and regulations which establish standards and
requirements for protection of the environment. The Partnership cannot
predict the future impact of such standards and requirements, which are
subject to change and can have retroactive effectiveness. The
Partnership continues to monitor the status of these laws and
regulations.
As of December 31, 1997, the Partnership has not been fined, cited or
notified of any environmental violations and management is not aware of
any unasserted violations which would have a material adverse effect
upon capital expenditures, earnings or the competitive position in the
oil and gas industry. However, the Managing General Partner does
recognize by the very nature of its business, material costs could be
incurred in the near term to bring the Partnership into total
compliance. The amount of such future expenditures is not determinable
due to several factors, including the unknown magnitude of possible
contaminations, the unknown timing and extent of the corrective actions
which may be required, the determination of the Partnership's liability
in proportion to other responsible parties and the extent to which such
expenditures are recoverable from insurance or indemnifications from
prior owners of the Partnership's properties.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Notes to Financial Statements
4. Related Party Transactions
A significant portion of the oil and gas properties in which the
Partnership has an interest are operated by and purchased from the
Managing General Partner. As is usual in the industry and as provided
for in the operating agreement for each respective oil and gas property
in which the Partnership has an interest, the operator is paid an
amount for administrative overhead attributable to operating such
properties, with such amounts to Southwest Royalties, Inc. as operator
approximating $125,000, $132,000 and $116,000, for the years ended
December 31, 1997, 1996 and 1995, respectively. In addition, the
Managing General Partner and certain officers and employees may have an
interest in some of the properties in which the Partnership also
participates.
Certain subsidiaries or affiliates of the Managing General Partner
perform various oilfield services for properties in which the
Partnership owns an interest. Such services aggregated approximately
$4,000, $18,000 and $25,000, for the years ended December 31, 1997,
1996 and 1995, respectively, and the Managing General Partner believes
that these costs are comparable to similar charges paid by the
Partnership to unrelated third parties.
Southwest Royalties, Inc., the Managing General Partner, was paid
$144,000 during 1997, 1996 and 1995, as an administrative fee for
indirect general and administrative overhead expenses.
Receivables from Southwest Royalties, Inc., the Managing General
Partner, of approximately $251,738 and $338,190 are from oil and gas
production, net of lease operating costs and production taxes, as of
December 31, 1997 and 1996, respectively.
In addition, a director and officer of the Managing General Partner is
a partner in a law firm, with such firm providing legal services to the
Partnership approximating $1,300, $1,300 and $1,000, for the years
ended December 31, 1997, 1996 and 1995, respectively.
5. Major Customers
No material portion of the Partnership's business is dependent on a
single purchaser, or a very few purchasers, where the loss of one would
have a material adverse impact on the Partnership. Five purchasers
accounted for 67% of the Partnership's total oil and gas production
during 1997: Nustar Joint Venture 17%, Torch Operating Company 16%,
Scurlock Permian Corporation 13%, Aquila Southwest Pipeline Corporation
11% and Enron Oil and Transportation Incorporated 10%. Four purchasers
accounted for 63% of the Partnership's total oil and gas production
during 1996: Torch Operating Company 28%, Scurlock Permian Corporation
14%, Aquila Southwest Pipeline Corporation 11% and Enron Oil and
Transportation Inc 10%. Four purchasers accounted for 62% of the
Partnership's total oil and gas production during 1995: Nustar Joint
Venture, Aquila Southwest Pipeline, Scurlock Permian Corp. and Enron
Oil and Transportation purchased 27%, 14%, 11% and 10%, respectively.
All purchasers of the Partnership's oil and gas production are
unrelated third parties. In the event any of these purchasers were to
discontinue purchasing the Partnership's production, the Managing
General Partner believes that a substitute purchaser or purchasers
could be located without undue delay. No other purchaser accounted for
an amount equal to or greater than 10% of the Partnership's sales of
oil and gas production.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Notes to Financial Statements
6. Estimated Oil and Gas Reserves (unaudited)
The Partnership's interest in proved oil and gas reserves is as
follows:
Oil (bbls)
Gas (mcf)
----------
- ---------
Proved developed and undeveloped reserves -
January 1, 1995 634,000 5,190,000
Revisions of previous estimates 73,000 875,000
Production (60,000) (602,000)
Sale of minerals in place (1,000) (62,000)
------- ---------
December 31, 1995 646,000 5,401,000
Revisions of previous estimates 87,000 933,000
Production (56,000) (504,000)
Sale of minerals in place - (55,000)
------- ---------
December 31, 1996 677,000 5,775,000
Revisions of previous estimates (106,000) (1,452,000)
Production (50,000) (471,000)
Sale of minerals in place (11,000) -
------- ---------
December 31, 1997 510,000 3,852,000
======= =========
Proved developed reserves -
December 31, 1995 559,000 5,141,000
======= =========
December 31, 1996 590,000 5,516,000
======= =========
December 31, 1997 428,000 3,544,000
======= =========
All of the Partnership's reserves are located within the continental
United States.
*The reserve estimates were prepared as of January 1, 1998, by Donald
R. Creamer, P.E., an independent registered petroleum engineer. The
reserve estimates were made in accordance with guidelines established
by the Securities and Exchange Commission pursuant to Rule 4-10(a) of
Regulation S-X. Such guidelines require oil and gas reserve reports be
prepared under existing economic and operating conditions with no
provisions for price and cost escalation except by contractual
arrangements.
The New York Mercantile Exchange price at December 31, 1997 of $17.64
was used as the beginning basis for the oil price. Oil price
adjustments from $17.64 per barrel were made in the individual
evaluations to reflect oil quality, gathering and transportation costs.
The results are an average price received at the lease of $16.24 per
barrel in the preparation of the reserve report as of January 1, 1998.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Notes to Financial Statements
6. Estimated Oil and Gas Reserves (unaudited) - continued
In the determination of the gas price, the New York Mercantile Exchange
price at December 31, 1997 of $2.26 was used as the beginning basis.
Gas price adjustments from $2.26 per Mcf were made in the individual
evaluations to reflect BTU content, gathering and transportation costs
and gas processing and shrinkage. The results are an average price
received at the lease of $2.35 per Mcf in the preparation of the
reserve report as of January 1, 1998.
The evaluation of oil and gas properties is not an exact science and
inevitably involves a significant degree of uncertainty, particularly
with respect to the quantity of oil or gas that any given property is
capable of producing. Estimates of oil and gas reserves are based on
available geological and engineering data, the extent and quality of
which may vary in each case and, in certain instances, may prove to be
inaccurate. Consequently, properties may be depleted more rapidly than
the geological and engineering data have indicated.
Unanticipated depletion, if it occurs, will result in lower reserves
than previously estimated; thus an ultimately lower return for the
Partnership. Basic changes in past reserve estimates occur annually.
As new data is gathered during the subsequent year, the engineer must
revise his earlier estimates. A year of new information, which is
pertinent to the estimation of future recoverable volumes, is available
during the subsequent year evaluation. In applying industry standards
and procedures, the new data may cause the previous estimates to be
revised. This revision may increase or decrease the earlier estimated
volumes. Pertinent information gathered during the year may include
actual production and decline rates, production from offset wells
drilled to the same geologic formation, increased or decreased water
production, workovers, and changes in lifting costs, among others.
Accordingly, reserve estimates are often different from the quantities
of oil and gas that are ultimately recovered.
The Partnership has reserves which are classified as proved developed
producing, proved developed non-producing and proved undeveloped. All
of the proved reserves are included in the engineering reports which
evaluate the Partnership's present reserves.
Because the Partnership does not engage in drilling activities, the
development of proved undeveloped reserves is conducted pursuant to
farmout arrangements with the Managing General Partner or unrelated
third parties. Generally, the Partnership retains a carried interest
such as an overriding royalty interest under the terms of a farmout, or
receives cash.
<PAGE>
Southwest Royalties, Inc. Income Fund VI
(a Tennessee limited partnership)
Notes to Financial Statements
6. Estimated Oil & Gas Reserves (unaudited) - continued
The standardized measure of discounted future net cash flows relating
to proved oil and gas reserves at December 31, 1997, 1996 and 1995 is
presented below:
1997 1996 1995
---- ---- ----
Future cash inflows, net of
production and development
costs $ 9,969,000 24,773,000 14,304,000
10% annual discount for
estimated timing of cash
flows 3,406,000 10,585,000 5,426,000
--------- ---------- ----------
Standardized measure of
discounted future net cash
flows $ 6,563,000 14,188,000 8,878,000
========= ========== ==========
The principal sources of change in the standardized measure of
discounted future net cash flows for the years ended December 31,
1997, 1996 and 1995 are as follows:
1997 1996 1995
---- ---- ----
Sales of oil and gas produced,
net of production costs $ (955,000)
(2,279,000) (1,679,000)
Changes in prices and production
costs (7,159,000) 6,157,000 1,644,000
Changes of production rates
(timing) and others 1,053,000 432,000 (532,000)
Sales of minerals in place (15,000) (31,000) (40,000)
Revisions of previous
quantities estimates (1,968,000)
(220,000) 1,130,000
Accretion of discount 1,419,000 1,251,000 761,000
Discounted future net
cash flows -
Beginning of year 14,188,000 8,878,000 7,594,000
---------- ---------- ----------
End of year $ 6,563,000 14,188,000 8,878,000
========== ========== ==========
Future net cash flows were computed using year-end prices and costs
that related to existing proved oil and gas reserves in which the
Partnership has mineral interests.
<PAGE>
Item 9. Changes in and Disagreements With Accountants on Accounting and
Financial Disclosure
On June 9, 1997 Southwest Royalties, Inc. the Partnership's Managing
General Partner (Southwest Royalties, Inc.) dismissed Joseph Decosimo and
Company as the Partnership's independent accountants. The Managing General
Partner's Board of Directors approved the decision to change the
Partnership's independent accountants.
The reports of Joseph Decosimo and Company on the financial statements for
the past two fiscal years contained no adverse opinion or disclaimer of
opinion and were not qualified or modified as to uncertainty, audit scope
or accounting principle.
In connection with its audits for the two most recent fiscal years and
through June 9, 1997, there have been no disagreements with Joseph Decosimo
and Company on any matter of accounting principles or practices, financial
statements disclosure, or auditing scope or procedure, which disagreements
if not resolved to the satisfaction of Joseph Decosimo and Company would
have caused them to make reference thereto in their report on the financial
statements for such years.
The Registrant has requested that Joseph Decosimo and Company furnish it
with a letter addressed to the SEC stating whether or not is agrees with
the above statements. A copy of that letter is included as Exhibit 16 and
has been filed with the Securities and Exchange Commission.
<PAGE>
Part III
Item 10. Directors and Executive Officers of the Registrant
Management of the Partnership is provided by Southwest Royalties, Inc., as
Managing General Partner. The names, ages, offices, positions and length
of service of the directors and executive officers of Southwest Royalties,
Inc. are set forth below. Each director and executive officer serves for a
term of one year. The present directors of the Managing General Partner
have served in their capacity since the Company's formation in 1983.
Name Age Position
- -------------------- --- -----------------------------------
- -------
H. H. Wommack, III 42 Chairman of the Board,
President,
Chief Executive Officer, Treasurer
and Director
H. Allen Corey 43 Secretary and Director
Bill E. Coggin 44 Vice President and Chief
Financial Officer
Phillip F. Hock, Jr. 54 Vice President, Exploration
Jon P. Tate 40 Vice President, Land and
Assistant Secretary
Joel D. Talley 36 Vice President, Acquisitions and
Exploitation Manager
R. Douglas Keathley 42 Vice President, Operations
J. Steven Person 39 Vice President, Marketing
H. H. Wommack, III, is Chairman of the Board, President, Chief Executive
Officer, Treasurer, principal stockholder and a director of the Managing
General Partner, and has served as its President since the Company's
organization in August, 1983. Prior to the formation of the Company, Mr.
Wommack was a self-employed independent oil producer engaged in the
purchase and sale of royalty and working interests in oil and gas leases,
and the drilling of exploratory and developmental oil and gas wells. Mr.
Wommack holds a J.D. degree from the University of Texas from which he
graduated in 1980, and a B.A. from the University of North Carolina in
1977.
H. Allen Corey, a founder of the Managing General Partner, has served as
the Managing General Partner's secretary and a director since its
inception. Mr. Corey is President of Trolley Barn Brewery, Inc., a brew
pub restaurant chain based in the Southeast. Prior to his involvement with
Trolley Barn, Mr. Corey was a partner at the law firm of Miller & Martin in
Chattanooga, Tennessee. He is currently of counsel to the law firm of
Baker, Donelson, Bearman & Caldwell, with the offices in Chattanooga,
Tennessee. Mr. Corey received a J.D. degree from the Vanderbilt University
Law School and B.A. degree from the University of North Carolina at Chapel
Hill.
<PAGE>
Bill E. Coggin, Vice President and Chief Financial Officer, has been with
the Managing General Partner since 1985. Mr. Coggin was Controller for Rod
Ric Corporation of Midland, Texas, an oil and gas drilling company, during
the latter part of 1984. He was Controller for C.F. Lawrence & Associates,
Inc., an independent oil and gas operator also of Midland, Texas during the
early part of 1984. Mr. Coggin taught public school for four years prior
to his business experience. Mr. Coggin received a B.S. in Education and a
B.B.A. in Accounting from Angelo State University.
Phillip F. Hock, Jr., Vice President, Exploration, assumed his
responsibilities with the Managing General Partner as a geologist in
November 1993. Prior to joining the Managing General Partner, Mr. Hock was
employed four (4) years by Ramco Oil and Gas as Exploitation Manager (1989-
1993), Robinson Brothers Drilling Company as Exploration Manager (1980-
1984), and as petroleum geologist by several companies throughout his
career, Magic Circle Oil and Gas (1988-1989), Reading and Bates Petroleum
Company (1984-1988), and Exxon (1971-1980). Mr. Hock received a B. S. in
Geology from Morehead State University and a M. S. in Geology form the
University of New Mexico.
Jon P. Tate, Vice President, Land and Assistant Secretary, assumed his
responsibilities with the Managing General Partner in 1989. Prior to
joining the Managing General Partner, Mr. Tate was employed by C.F.
Lawrence & Associates, Inc., an independent oil and gas company, as Land
Manager from 1981 through 1989. Mr. Tate is a member of the Permian Basin
Landman's Association and received his B.B.S. degree from Hardin-Simmons
University.
Joel D. Talley, Vice President, Acquisitions and Exploitation Manager,
assumed his responsibilities with the Managing General Partner on July 15,
1996. Prior to joining the Managing General Partner, Mr. Talley was
employed for four (4) years by Merit Energy Company as Acquisitions Manager
and then as Region Manager over West Texas, New Mexico and Wyoming (1992-
1996) and eight (8) years by ARCO Oil & Gas Company in various engineering
positions (1984-1992). Mr. Talley received his B.S. in Mechanical
Engineering in 1984 from Texas A&M University.
R. Douglas Keathley, Vice President, Operations, assumed his
responsibilities with the Managing General Partner as a Production Engineer
in October, 1992. Prior to joining the Managing General Partner, Mr.
Keathley was employed for four (4) years by ARCO Oil & Gas Company as
senior drilling engineer working in all phases of well production (1988-
1992), eight (8) years by Reading & Bates Petroleum Company as senior
petroleum engineer responsible for drilling (1980-1988) and two (2) years
by Tenneco Oil Company as drilling engineer responsible for all phases of
drilling (1978-1980). Mr. Keathley received his B.S. in Petroleum
Engineering in 1977 from the University of Oklahoma.
J. Steven Person, Vice President, Marketing, assumed his responsibilities
with the Managing General Partner as National Marketing Director in 1989.
Prior to joining the Managing General Partner, Mr. Person served as Vice
President of Marketing for CRI, Inc., and was associated with Capital
Financial Group and Dean Witter (1983). He received a B.B.A. from Baylor
University in 1982 and an M.D.A. from Houston Baptist University in 1987.
Key Employees
Accounting and Administrative Officer - Debbie A. Brock, age 45, assumed
her position with the Managing General Partner in 1991. Prior to joining
the Managing General Partner, Ms. Brock was employed with Western Container
Corporation as Accounting Manager (1982-1990), Synthetic Industries
(Texas), Inc. as Accounting Manager (1976-1982) and held various accounting
positions in the manufacturing industry (1971-1975). Ms. Brock received a
B.B.A. from the University of Houston.
<PAGE>
Controller - Robert A. Langford, age 48, assumed his responsibilities with
the Managing General Partner in 1992. Mr. Langford received his B.B.A.
degree in Accounting in 1975 from the University of Central Arkansas.
Prior to joining the Managing General Partner, Mr. Langford was employed
with Forest Oil Corporation as Corporate Coordinator, Regional Coordinator,
Accounting Manager. He held various other positions from 1982-1992 and
1976-1980 and was Assistant Controller of National Oil Company from 1980-
1982.
Financial Reporting Manager - Bryan Dixon, C.P.A., age 31, assumed his
responsibilities with the Managing General Partner in 1992. Mr. Dixon
received his B.B.A. degree in Accounting in 1988 from Texas Tech University
in Lubbock, Texas. Prior to joining the Managing General Partner, Mr.
Dixon was employed as a Senior Auditor with Johnson, Miller & Company from
1991-1992 and Audit Supervisor for Texas Tech University and the Texas Tech
University Health Sciences Center from 1988-1991.
Production Superintendent - Steve C. Garner, age 56, assumed his
responsibilities with the Managing General Partner as Production
Superintendent in July, 1989. Prior to joining the Managing General
Partner, Mr. Garner was employed 16 years by Shell Oil Company working in
all phases of oil field production as operations foreman, one and one-half
years with Petroleum Corporation of Delaware as Production Superintendent,
six years as an independent engineering consultant, and one year with
Citation Oil & Gas Corp. as a workover, completion and production foreman.
Mr. Garner has worked extensively in the Permian Basin oil field for the
last 25 years.
Tax Manager - Carolyn Cookson, age 41, assumed her position with the
Managing General Partner in April 1989. Prior to joining the Managing
General Partner, Ms. Cookson was employed as Director of Taxes at C.F.
Lawrence & Associates, Inc. from 1983 to 1989, and worked in public
accounting at McCleskey, Cook & Green, P.C. from 1981 to 1983 and Deanna
Brady, C.P.A. from 1980 to 1981. She is a member of the Permian Basin
Chapter of the Petroleum Accountants' Society, and serves on its Board of
Directors and is liaison to the Tax Committee. Ms. Cookson received a
B.B.A. in accounting from New Mexico State University.
Investor Relations Manager - Sandra K. Flournoy, age 51, came to Southwest
Royalties, Inc. in 1988 from Parker & Parsley Petroleum, where she was
Assistant Manager of Investor Services and Broker/Dealer Relations for two
years. Prior to that, Ms. Flournoy was Administrative Assistant to the
Superintendent at Greenwood ISD for four years.
<PAGE>
In certain instances, the Managing General Partner will engage professional
petroleum consultants and other independent contractors, including
engineers and geologists in connection with property acquisitions,
geological and geophysical analysis, and reservoir engineering. The
Managing General Partner believes that, in addition to its own "in-house"
staff, the utilization of such consultants and independent contractors in
specific instances and on an "as-needed" basis allows for greater
flexibility and greater opportunity to perform its oil and gas activities
more economically and effectively.
Item 11. Executive Compensation
The Partnership does not have any directors or executive officers. The
executive officers of the Managing General Partner do not receive any cash
compensation, bonuses, deferred compensation or compensation pursuant to
any type of plan, from the Partnership. The Managing General Partner
received $144,000 during 1997, 1996 and 1995 as an annual administrative
fee.
Item 12. Security Ownership of Certain Beneficial Owners and Management
There are no limited partners who own of record, or are known by the
Managing General Partner to beneficially own, more than five percent of the
Partnership's limited partnership interests.
The Managing General Partner owns a nine percent interest as a general
partner. Through repurchase offers to the limited partners, the Managing
General Partner also owns 3,422 limited partner units, a 17.1% limited
partner interest. The Managing General Partners total percentage interest
ownership in the Partnership is 24.4%.
No officer or director of the Managing General Partner owns Units in the
Partnership. H. H. Wommack, III, as the individual general partner of the
Partnership owns a one percent interest in the Partnership as a general
partner. The officers and directors of the Managing General Partner are
considered beneficial owners of the limited partner units acquired by the
Managing General Partner by virtue of their status as such. A list of
beneficial owners of limited partner units, acquired by the Managing
General Partner, is as follows:
<PAGE>
Amount and
Nature of Percent
Name and Address of Beneficial of
Title of Class Beneficial Owner Ownership Class
- ------------------- --------------------------- --------------- -------
Limited Partnership Southwest Royalties, Inc. Directly Owns 17.1%
Interest Managing General Partner
3,422 Units
407 N. Big Spring Street
Midland, TX 79701
Limited Partnership H. H. Wommack, III Indirectly Owns 17.1%
Interest Chairman of the Board,
3,422 Units
President, CEO, Treasurer
and Director of Southwest
Royalties, Inc., the
Managing General Partner
407 N. Big Spring Street
Midland, TX 79701
Limited Partnership H. Allen Corey Indirectly Owns 17.1%
Interest Secretary and Director of
3,422 Units
Southwest Royalties, Inc.,
the Managing General
Partner
633 Chestnut Street
Chattanooga, TN 37450-1800
Limited Partnership Bill E. Coggin Indirectly Owns 17.1%
Interest Vice President and CFO of
3,422 Units
Southwest Royalties, Inc.,
the Managing General
Partner
407 N. Big Spring Street
Midland, TX 79701
Limited Partnership Phillip F. Hock, Jr. Indirectly Owns 17.1%
Interest Vice President,
Exploration 3,422 Units
of Southwest Royalties, Inc.,
the Managing General
Partner
407 N. Big Spring Street
Midland, TX 79701
Limited Partnership Jon P. Tate Indirectly Owns 17.1%
Interest Vice President, Land and
3,422 Units
Assistant Secretary of
Southwest Royalties, Inc.,
the Managing General
Partner
407 N. Big Spring Street
Midland, TX 79701
Limited Partnership J. Steven Person Indirectly Owns 17.1%
Interest Vice President, Marketing
3,422 Units
Southwest Royalties, Inc.,
the Managing General
Partner
407 N. Big Spring Street
Midland, TX 79701
<PAGE>
Amount and
Nature of Percent
Name and Address of Beneficial of
Title of Class Beneficial Owner Ownership Class
- ------------------- --------------------------- --------------- -------
Limited Partnership Joel D. Talley Indirectly Owns 17.1%
Interest Vice President,3,422
Units
Acquisitions and
Exploitation Manager of
Southwest Royalties, Inc.,
the Managing General
Partner
407 N. Big Spring Street
Midland, TX 79701
Limited Partnership R. Douglas Keathley Indirectly Owns 17.1%
Interest Vice President,3,422
Units
Operations of Southwest
Royalties, Inc., the
Managing General
Partner
407 N. Big Spring Street
Midland, TX 79701
There are no arrangements known to the Managing General Partner which may
at a subsequent date result in a change of control of the Partnership.
<PAGE>
Item 13. Certain Relationships and Related Transactions
In 1997, the Managing General Partner received $144,000 as an
administrative fee. This amount is part of the general and administrative
expenses incurred by the Partnership.
In some instances the Managing General Partner and certain officers and
employees may be working interest owners in an oil and gas property in
which the Partnership also has a net profits interest. Certain properties
in which the Partnership has an interest are operated by the Managing
General Partner, who was paid approximately $125,000 for administrative
overhead attributable to operating such properties during 1997.
Certain subsidiaries or affiliates of the Managing General Partner perform
various oilfield services for properties in which the Partnership owns an
interest. Such services aggregated approximately $4,000 for the year ended
December 31, 1997.
The law firm of Baker, Donelson, Bearman & Caldwell of which H. Allen
Corey, an officer and director of the Managing General Partner, is a
partner, is counsel to the Partnership. Legal services rendered by Baker,
Donelson, Bearman & Caldwell to the Partnership during 1997 were
approximately $1,300, which constitutes an immaterial portion of that
firm's business.
In the opinion of management, the terms of the above transactions are
similar to ones with unaffiliated third parties.
<PAGE>
Part IV
Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K
(a)(1) Financial Statements:
Included in Part II of this report --
Reports of Independent Accountants
Balance Sheets
Statements of Operations
Statement of Changes in Partners' Equity
Statements of Cash Flows
Notes to Financial Statements
(2) Schedules required by Article 12 of Regulation S-
X are either omitted because they are not applicable or
because the required information is shown in the
financial statements or the notes thereto.
(3) Exhibits:
4 (a) Certificate and Agreement of
Limited Partnership of Southwest Royalties, Inc.
Income Fund VI, dated December 4, 1986.
(Incorporated by reference from Partnership's
Form 10-K for the fiscal year ended December 31,
1986.)
(b) First Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated January 16,1987. (Incorporated by
reference from Partnership's Form 10-K for the
fiscal year ended December 31, 1987.)
(c) Corrected Second Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated May 6, 1987. (Incorporated by reference
from Partnership's Form 10-K for the fiscal year
ended December 31, 1987.)
(d) Third Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated February 3, 1988 (Incorporated by reference
from Partnership's Form 10-K for the fiscal year
ended December 31, 1988.)
(e) Fourth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated June 30, 1988 (Incorporated by reference
from Partnership's Form 10-K for the fiscal year
ended December 31, 1988.)
<PAGE>
(f) Fifth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated December 30, 1988 (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1988.)
(g) Sixth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of March 19, 1990. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1990.)
(h) Seventh Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of December 31, 1990. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1990.)
(i) Eighth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of September 30, 1991. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1991.)
(j) Ninth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of December 31, 1991. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1992.)
(k) Tenth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of March 31, 1992. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1992.)
(l) Eleventh Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of June 30, 1992. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1992.)
(m) Twelfth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of November 23, 1992. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1992.)
<PAGE>
(n) Thirteenth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of April 22, 1993. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1993.)
(o) Fourteenth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of September 30, 1993. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1993.)
(p) Fifteenth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of December 31, 1993. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1993.)
(q) Sixteenth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of July 26, 1994. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1994.)
(r) Seventeenth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of January 18, 1995. (Incorporated by
reference from the Partnership's Form 10-K for
the fiscal year ended December 31, 1994.)
(s) Eighteenth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of July 26, 1995.
(t) Nineteenth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of January 29, 1996.
<PAGE>
(u) Twentieth Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of April 30, 1996.
(v) Twenty First Amendment to Certificate and Agreement of Limited
Partnership of Southwest Royalties, Inc. Income Fund VI, dated as of
September 30, 1996.
(w) Twenty Second Amendment to Certificate and Agreement of
Limited Partnership of Southwest Royalties, Inc.
Income Fund VI, dated as of January 15, 1997.
(x) Twenty Third Amendment to
Certificate and Agreement of Limited Partnership
of Southwest Royalties, Inc. Income Fund VI,
dated as of May 10, 1997.
16Letter on Change in Certifying Accountant
(Incorporated by reference from Partnership's 8-K
dated June 9, 1997.)
27 Financial Data Schedule
99 Limited Partners as of January 15, 1997
Limited Partners as of May 10, 1997
(b) Reports on Form 8-K
There were no reports filed on Form 8-K during the
quarter ended December 31, 1997.
<PAGE>
Signatures
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Partnership has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
Southwest Royalties, Inc. Income Fund VI, a
Tennessee limited partnership
By: Southwest Royalties, Inc., Managing
General Partner
By: /s/ H. H. Wommack, III
-----------------------------
H. H. Wommack, III, President
Date: March 31, 1998
Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
Partnership and in the capacities and on the dates indicated.
By: /s/ H. H. Wommack, III
-----------------------------------
H. H. Wommack, III, Chairman of the
Board, President, Chief Executive
Officer, Treasurer and Director
Date: March 31, 1998
By: /s/ H. Allen Corey
-----------------------------
H. Allen Corey, Secretary and
Director
Date: March 31, 1998
<PAGE>
Exhibit Index
Item No. Description Page No.
14(a)(3) Exhibit 4(w): Twenty Second Amendment to Certificate 50
and Agreement of Limited Partnership of Southwest
Royalties, Inc. Income Fund VI, dated as of
January 15, 1997.
Exhibit 4 (x): Twenty Third Amendment to Certificate 52
and Agreement of Limited Partnership of Southwest
Royalties, Inc. Income Fund VI, dated as of
May 10, 1997.
Exhibit 16: Letter on Changes in Certifying Accountant
(Incorporated by reference from the Partnership's Form 8-K
dated June 9, 1997.)
<PAGE>
This Instrument Prepared By:
J. Porter Durham, Jr.
Miller & Martin
1000 Volunteer Building
832 Georgia Avenue
Chattanooga, Tennessee 37402
TWENTY SECOND AMENDMENT TO CERTIFICATE AND AGREEMENT OF
LIMITED PARTNERSHIP OF SOUTHWEST ROYALTIES, INC.
INCOME FUND VI, A TENNESSEE LIMITED PARTNERSHIP
Pursuant to the Tennessee Revised Uniform Limited Partnership Act, 62-2-
1204 of the Tennessee Code Annotated, and the provisions of the Tennessee
Uniform Limited Partnership Act, being formerly 61-2-101, et seq. of the
Tennessee Code Annotated, this Twenty-second Amendment (the "Amendment") to
the Certificate and Agreement of Limited Partnership of Southwest
Royalties, Inc. Income VI is executed to be effective as of the 15th day
of January, 1997, by and between H. H. WOMMACK, III, an individual
("General Partner"), SOUTHWEST ROYALTIES, INC. ("Managing General Partner")
(the Managing General Partner and the General Partner, are hereinafter
collectively referred to as "General Partners"), and the General Partners
as attorney-in-fact for those persons and entities listed on Schedule 1
attached to this Amendment, whether existing or additional limited partners
(collectively the "Limited Partners") and as attorney-in-fact for the
Withdrawing Limited Partners, as defined hereinafter.
WHEREAS, Southwest Royalties, Inc. Income VI was organized as a Tennessee
limited partnership pursuant to an Agreement of Limited Partnership, as
amended from time to time, dated December 4, 1986 and recorded in Book
3280, Page 726 in the Register's Office of Hamilton County, Tennessee (the
"Agreement"); and
WHEREAS, the General Partners, Limited Partners and Withdrawing Limited
Partners desire to amend the Agreement in the manner set forth herein;
NOW, THEREFORE, for and in consideration of the mutual rights and
obligations herein and other good and valuable consideration the receipt
and legal sufficiency of which are acknowledged, the parties hereto agree
as follows:
1. Schedule 1 to the Agreement is hereby deleted in its entirety and
replaced by the Schedule 1 attached hereto. Those persons and
entities which were formerly listed on Schedule 1 to the Agreement but
which are not listed on the revised Schedule 1 attached hereto shall
be defined collectively as the "Withdrawing Limited Partners."
2. Except as provided herein, the Agreement is hereby constituted and
acknowledged as the controlling Agreement of Southwest Royalties, Inc.
Income Fund VI.
<PAGE>
IN WITNESS WHEREOF, the parties hereto acknowledge that they have executed
this Amendment to the Agreement to be effective as of the date first above
written.
GENERAL PARTNERS:
By: /s/ H. H. Wommack, III
-----------------------------------
H. H. Wommack, III, General Partner
By: SOUTHWEST ROYALTIES, INC.
Managing General Partner
By: /s/ H. H. Wommack, III
-----------------------------------
H. H. Wommack, III, President
LIMITED PARTNERS:
By: General Partners, as attorneys-in-fact
for the Limited Partners listed on Schedule 1 attached
hereto and those Withdrawing Limited Partners removed
from Schedule 1 under Powers of Attorney previously
granted
By: /s/ H. H. Wommack, III
-----------------------------------
H. H. Wommack, III
By: SOUTHWEST ROYALTIES, INC.
Managing General Partner
By: /s/ H. H. Wommack, III
-----------------------------------
STATE OF TEXAS )
COUNTY OF MIDLAND )
Personally appeared before me, /s/ Kay Linn, Notary Public, H. H. Wommack,
III, with whom I am personally acquainted, and who acknowledged that he
executed the within instrument for the purposes therein contained for
himself and as the attorney-in-fact for the admitted and withdrawing
Limited Partners, and who further acknowledged that he is authorized by
Southwest Royalties, Inc., the Limited Partners and the Withdrawing Limited
Partners to execute this document on its and their behalf.
Witness my hand, at office, this 15th day of January, 1997.
/s/ Kay Linn
-----------------------------------
Notary Public
<PAGE>
This Instrument Prepared By:
J. Porter Durham, Jr.
Miller & Martin
1000 Volunteer Building
832 Georgia Avenue
Chattanooga, Tennessee 37402
TWENTY-THIRD AMENDMENT TO CERTIFICATE AND AGREEMENT OF
LIMITED PARTNERSHIP OF SOUTHWEST ROYALTIES, INC.
INCOME FUND VI, A TENNESSEE LIMITED PARTNERSHIP
Pursuant to the Tennessee Revised Uniform Limited Partnership Act, 62-2-
1204 of the Tennessee Code Annotated, and the provisions of the Tennessee
Uniform Limited Partnership Act, being formerly 61-2-101, et seq. of the
Tennessee Code Annotated, this Twenty-third Amendment (the "Amendment") to
the Certificate and Agreement of Limited Partnership of Southwest
Royalties, Inc. Income VI is executed to be effective as of the 10th day
of May, 1997, by and between H. H. WOMMACK, III, an individual ("General
Partner"), SOUTHWEST ROYALTIES, INC. ("Managing General Partner") (the
Managing General Partner and the General Partner, are hereinafter
collectively referred to as "General Partners"), and the General Partners
as attorney-in-fact for those persons and entities listed on Schedule 1
attached to this Amendment, whether existing or additional limited partners
(collectively the "Limited Partners") and as attorney-in-fact for the
Withdrawing Limited Partners, as defined hereinafter.
WHEREAS, Southwest Royalties, Inc. Income VI was organized as a Tennessee
limited partnership pursuant to an Agreement of Limited Partnership, as
amended from time to time, dated December 4, 1986 and recorded in Book
3280, Page 726 in the Register's Office of Hamilton County, Tennessee (the
"Agreement"); and
WHEREAS, the General Partners, Limited Partners and Withdrawing Limited
Partners desire to amend the Agreement in the manner set forth herein;
NOW, THEREFORE, for and in consideration of the mutual rights and
obligations herein and other good and valuable consideration the receipt
and legal sufficiency of which are acknowledged, the parties hereto agree
as follows:
1. Schedule 1 to the Agreement is hereby deleted in its entirety and
replaced by the Schedule 1 attached hereto. Those persons and
entities which were formerly listed on Schedule 1 to the Agreement but
which are not listed on the revised Schedule 1 attached hereto shall
be defined collectively as the "Withdrawing Limited Partners."
2. Except as provided herein, the Agreement is hereby constituted and
acknowledged as the controlling Agreement of Southwest Royalties, Inc.
Income Fund VI.
<PAGE>
IN WITNESS WHEREOF, the parties hereto acknowledge that they have executed
this Amendment to the Agreement to be effective as of the date first above
written.
GENERAL PARTNERS:
By: /s/ H. H. Wommack, III
-----------------------------------
H. H. Wommack, III, General Partner
By: SOUTHWEST ROYALTIES, INC.
Managing General Partner
By: /s/ H. H. Wommack, III
-----------------------------------
H. H. Wommack, III, President
LIMITED PARTNERS:
By: General Partners, as attorneys-in-fact
for the Limited Partners listed on Schedule 1 attached
hereto and those Withdrawing Limited Partners removed
from Schedule 1 under Powers of Attorney previously
granted
By: /s/ H. H. Wommack, III
-----------------------------------
H. H. Wommack, III
By: SOUTHWEST ROYALTIES, INC.
Managing General Partner
By: /s/ H. H. Wommack, III
-----------------------------------
STATE OF TEXAS )
COUNTY OF MIDLAND )
Personally appeared before me, /s/ Vonda L. Walker, Notary Public, H. H.
Wommack, III, with whom I am personally acquainted, and who acknowledged
that he executed the within instrument for the purposes therein contained
for himself and as the attorney-in-fact for the admitted and withdrawing
Limited Partners, and who further acknowledged that he is authorized by
Southwest Royalties, Inc., the Limited Partners and the Withdrawing Limited
Partners to execute this document on its and their behalf.
Witness my hand, at office, this 21st day of May, 1997.
/s/ Vonda L. Walker
-----------------------------------
Notary Public
<PAGE>
AMENDMENTS FOLLOW AS EX-99
<PAGE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Balance Sheet at December 31, 1997 and the Statement of Operations for
the Year Ended December 31, 1997 and is qualified in its entirety by
reference to such financial statements.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<CASH> 40,719
<SECURITIES> 0
<RECEIVABLES> 271,738
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 312,457
<PP&E> 8,505,071
<DEPRECIATION> 6,176,000
<TOTAL-ASSETS> 2,641,528
<CURRENT-LIABILITIES> 203
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 2,641,325
<TOTAL-LIABILITY-AND-EQUITY> 2,641,528
<SALES> 955,069
<TOTAL-REVENUES> 964,866
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 438,803
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 526,063
<INCOME-TAX> 0
<INCOME-CONTINUING> 526,063
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 526,063
<EPS-PRIMARY> 23.67
<EPS-DILUTED> 23.67
</TABLE>
RUN DATE: Wednesday March 25,1998 9:59 AM PAGE 1
SWR INCOME FUND VI
I N V E S T O R L I S T I N G B Y P A R T N E R S H I P
As of 01/15/97 For Investors: ALL
-------INVESTOR---------------------- UNITS INVESTMENT
NUMBER NAME/ADDRESS BOUGHT AMOUNT
AD115 Steve A. Adams IRA 4.0000 2,000.00
4520 Forest Peak Circle
Marietta, GA 30066
AD143 Reba C. Adams 10.0000 5,000.00
231 Hubbell Street
Edgewater, FL 32132
AI958 Henry & Susan Aivaler 20.0000 10,000.00
5680 W. 51st Street
Indianapolis, IN 46254
AL210 G. R. Albertson IRA R/O 20.0000 10,000.00
4000 Fairwood
Midland, TX 79707
AL219 Marcia K. Carroll 20.0000 10,000.00
R.R. 1
Graymont, IL 61743-9801
AL57G Edward Wyatt Allen IRA 10.0000 5,000.00
6771 Penneywell Drive
Nashville, TN 37205
AL580 Edward W. Allen Jr. 5.0000 2,500.00
6771 Pennywell Dr.
Nashville, TN 37205
AL746 Phillip S. Alpert 10.0000 5,000.00
4060 Santa Nella Place
San Diego, CA 92130
AL816 Debra Althouse IRA 4.0000 2,000.00
2856 Calle Guadalajara
San Clemente, CA 92673-3519
AM224 Erlinda B. Corpuz - Ambrosia 6.0000 3,000.00
as C/F Ruth Elaine Ambrosia
300 Hospital Dr.
Spencer, WV 25276
AM990 Heidi K. Fleming 10.0000 5,000.00
8081 So. Williams Circle
Littleton, CO 80122
AN26F B. Betty Anderson Trustee 14.0000 7,000.00
<PAGE>
of the B. Betty Anderson
Revocable Trust dated 9-20-94
826 Live Oak Lane
Oviedo, FL 32765
AN271 James L. Andrews IRA 20.0000 10,000.00
10311 SE 228th St.
Kent, WA 98031
AN394 Leo Angel IRA 15.0000 7,500.00
11734 Old Eureka Way
Gold River, CA 95670-8354
AN396 Angel, Hogan, Roberts & Berrin 45.0000 22,500.00
Employees Profit Sharing Plan
2386 Fair Oaks Blvd, Ste. 102
Sacramento, CA 95825
AN398 Angel, Hogan, Roberts & Berrin 20.0000 10,000.00
Profit Sharing Plan
Judson R. Roberts TTEE
2386 Fair Oaks Blvd., Ste. 102
Sacramento, CA 95825
AN630 The Anoka Family Trust dated 20.0000 10,000.00
7/14/95, John Anoka & Dorothy
L. Anoka Trustees
1705 East Horatio Avenue
Maitland, FL 32751
AP732 Robert W. Applegate IRA 16.0000 8,000.00
1627 Buckman Springs Road
Campo, CA 91906
AR593 Kay W. Armstrong 50.0000 25,000.00
119 Fleetwood Drive
Lookout Mtn, TN 37350
AR593 Kay W. Armstrong 50.0000 25,000.00
119 Fleetwood Drive
Lookout Mtn, TN 37350
AR626 David H. Arnold M.D., PC 8.0000 4,000.00
1203 W. Maple Avenue
Geneva, AL 36340
AS419 Raymond & Elizabeth Ashley 50.0000 25,000.00
5009 Rio Vista Drive
Granbury, TX 76049-5173
AS636 Susan K. Asowitch Trustee 10.0000 5,000.00
of the Bernard L. Asowitch
Revocable Trust Agreement
dated 2-26-86
724 N. Rainbow Drive
Hollywood, FL 33021
AT530 Melissa W. Atkinson IRA 5.0000 2,500.00
<PAGE>
6239 Forest Trail
Signal Mountain, TN 37377
AT531 Joseph S. Atkinson IRA 5.0000 2,500.00
6239 Forest Train
Signal Mountain, TN 37377
AU575 David E. Ault IRA 30.0000 15,000.00
4086 Viscount
Memphis, TN 38118
AU812 Anthony Autunno IRA 5.0000 2,500.00
2345 Leeward Shore Drive
Virginia Beach, VA 23451
AY272 Darryl L. Ayers IRA 20.0000 10,000.00
255 N. Lakemont Avenue
Winter Park, FL 32789
BA021 BBB Investments 50.0000 25,000.00
2508 Old Oaks
Waco, TX 76710
BA235 Sylvia Bacote 10.0000 5,000.00
161 Dupre Avenue
Norfolk, VA 23503
BA542 John A. Baker 20.0000 10,000.00
1021 Carob Lane
Norco, CA 91760-1403
BA542 John A. Baker 20.0000 10,000.00
1021 Carob Lane
Norco, CA 91760-1403
BA561 Michelle I. Baka, M.D. 10.0000 5,000.00
31950 Oak Ridge Pkwy
Bulverde, TX 78163
BA57J Sharon L. Baldwin IRA 4.0000 2,000.00
7339 S. Endora Court
Littleton, CO 80122
BA57K Robert C. Baldwin IRA 4.0000 2,000.00
7339 S. Endora Court
Littleton, CO 80122
BA580 Mary T. Baldwin IRA 4.0000 2,000.00
6444 Coral Lake Avenue
San Diego, CA 92119
BA580 Mary T. Baldwin IRA 4.0000 2,000.00
6444 Coral Lake Avenue
San Diego, CA 92119
BA597 Anthony J. Balestrieri 40.0000 20,000.00
Revocable Trust
<PAGE>
Anthony J. Balestrieri Trustee
3609 Grayton Drive
New Port Richey, FL 34652
BA618 Sam L. Banks 20.0000 10,000.00
300 Windmere Dr.
Chattanooga, TN 37411
BA764 Donna Jean Barber Trustee 6.0000 3,000.00
FBO Donna Barber Trust
U/A/D 7/10/85
9209 Seminole Blvd. #59
Seminole, FL 33772
BA779 Helen Barrios IRA 5.0000 2,500.00
4123 Westchester Crossing
Roswell, GA 30075
BA786 Lillie Baros IRA 10.0000 5,000.00
1704 Algee Drive
Port Lavaca, TX 77979
BA789 William H. Barrett 40.0000 20,000.00
8918 1/2 Dolly Madison Dr. SW
Tacoma, WA 98498-2510
BA78A Art Barrett 40.0000 20,000.00
10507 Gravelly Lake Drive
Suite #15A124
Tacoma, WA 98499
BA811 Beverly K. Batchelor IRA 6.0000 3,000.00
24 Northampton
Huntsville, AL 35801-2844
BA81H Boyd C. Batchelor IRA 8.0000 4,000.00
24 Northampton
Huntsville, AL 35801
BA826 W.Bryson Bateman, Jr. MD PA 20.0000 10,000.00
Profit Sharing Trust
309 Walnut Creek Drive
Goldsboro, NC 27530
BA982 Lokesk K. Bazaz IRA 8.0000 4,000.00
1011 Eaton Drive
McLean, VA 22102
BE113 Laiah H. Beane & Linda B. Hunt 20.0000 10,000.00
4962 Rex Rd.
Winston Salem, NC 27107
BE116 David L. Beaudin IRA 4.0000 2,000.00
1417 Roy Road
Bellingham, WA 98226
BE179 Christopher C. Beaudin IRA 4.0000 2,000.00
<PAGE>
4217 S. 22nd Road
South Range, WI 54874-8828
BE576 Lamoine & Dorris Beldon 6.0000 3,000.00
7518 Sun Faire Lane
Sacramento, CA 95828
BE768 Jerry W. Bergsma IRA 6.0000 3,000.00
9431 White Pine
Zeeland, MI 49464
BE769 Craig P. Berg 12.0000 6,000.00
5522 - 38th Avenue NE
Seattle, WA 98105-2204
BE76C Terry L. Berryhill IRA 4.0000 2,000.00
871 Todd Lane
Arroyo Grande, CA 93420
BE76Z Robin Berrin IRA 8.0000 4,000.00
1624 Gary Way
Carmichael, CA 95608
BE77A Timothy A. Berg IRA 5.0000 2,500.00
2508 111th Avenue SE
Bellevue, WA 98004-7300
BI250 Margaret E Biddle 15.0000 7,500.00
3268 Via Grande
Sacramento, CA 95825
BI296 Sandra J. Biermeier 40.0000 20,000.00
8340 Julianne Terrace
Golden Valley, MN 55427
BI798 Harry R. Bissinger, Jr. IRA 4.0000 2,000.00
5174 LuPine Lane
Acworth, GA 30101-6964
BI79H John Arthur Bishop IRA 7.0000 3,500.00
4706 Memory Lane
Baytown, TX 77521
BI814 Donald & Florence Bittle, 10.0000 5,000.00
Trustees FBO The Bittle Trust
u/a/d 2-28-95
621 Valley View Drive
Henderson, NV 89015
BL102 William N. Black Estate 10.0000 5,000.00
c/o Kimberly Mckee
2075 Promontory Pt. Lane
Gold River, CA 95670
BL104 Black Diamond Blade Co. 100.0000 50,000.00
FBO Franklin Brenner Trustee
234 East "O" Street
<PAGE>
Colton, CA 92324
BL432 Fred H. Bliss 10.0000 5,000.00
3393 Bristol Lane
Cuyahoga Falls, OH 44223
BL587 William Blount IRA 30.0000 15,000.00
763 Fulton
Indianola, IA 50125
BO272 Eleanor I. Boe 30.0000 15,000.00
1509 Sandpiper
Palm Desert, CA 92260
BO278 John C. Boersema 8.0000 4,000.00
2460 Lakeshore Drive
Holland, MI 49424
BO407 Michael P. Bogomolny 20.0000 10,000.00
5252 Crofton Avenue
Solon, OH 44139
BO415 Jules Bohnn IRA 200.0000 100,000.00
1215 Barkdull Street
Houston, TX 77006
BO417 Joel E. Bohlmann 14.0000 7,000.00
92 Osprey Drive
Groton, CT 06340
BO480 Worth W. & Nancy Boisture 20.0000 10,000.00
36 Kershaw Drive
Bluffton, SC 29910
BO633 Robert & Sandra Boothe 20.0000 10,000.00
205 Wildwood Trace
Hattiesburg, MS 39402
BO763 John T. Borowski, M.D. SEP-IRA 34.0000 17,000.00
9715 Lantana
San Antonio, TX 78217
BO773 Douglas L. & Robin Borgen 8.0000 4,000.00
17411 Snohomish Ave.
Snohomish, WA 98290
BO798 Karen Boswood IRA 4.0000 2,000.00
2710 Salmon Court
North Pole, AK 99705-7308
BO799 James Boswood IRA 4.0000 2,000.00
2710 Salmon Court
North Pole, AK 99705-7308
BO803 Carolann Bossert Trustee 6.0000 3,000.00
FBO Bossert 1986 Trust
2714 Bridgepointe Drive
<PAGE>
Las Vegas, NV 89121
BO861 Tania K. Boucher Trust 31.0000 15,500.00
P. O. Box 188
Mendenhall, PA 19357
BO961 Russell Bowen 8.0000 4,000.00
custodian for Sarah Bowen
28 Little Acres Road
Glastonbry, CT 06033
BO996 John B. & Marjorie Boyer 10.0000 5,000.00
1262 Echo Dr.
Whitehall, PA 18052
BO997 David William Boyer IRA 8.0000 4,000.00
12020 149th St. E.
Puyallup, WA 98374-3446
BR101 Daniel L. Brackeen 60.0000 30,000.00
410 Park Ridge
Grand Prairie, TX 75051
BR104 Robert Branberg 10.0000 5,000.00
732 N. 77th Street
Seattle, WA 98103
BR11L Arlene Brandeis IRA 5.0000 2,500.00
1415 Squirrel Hill Avenue
Pittsburgh, PA 15217-1151
BR186 Donna Brower IRA 4.0000 2,000.00
3901 East South Street
Jackson, MI 49201
BR187 Lester Brower IRA 4.0000 2,000.00
3901 East South Street
Jackson, MI 49201
BR278 Kenneth B. Breese IRA 20.0000 10,000.00
1375 Heather Dr.
Holland, MI 49423
BR27B Gerard J. Brett IRA 9.0000 4,500.00
8868 Eatonwick Fairway
Cordova, TN 38018
BR300 Franklin J. Brenner 200.0000 100,000.00
743 Miramar
Fullerton, CA 92631
BR316 Marlena J. Brechtel 20.0000 10,000.00
109 Island Blvd.
Warner Robins, GA 31088
BR369 Thomas E. Brewington Jr MD PSP 12.0000 6,000.00
807 Summit Avenue
<PAGE>
Greensboro, NC 27405
BR370 Dr. Thomas E. Brewington, Jr. 8.0000 4,000.00
2601 Wilpar Drive
Greensboro, NC 27406
BR442 Jack E. Britain 100.0000 50,000.00
2519 Wooddale Circle
Waco, TX 76710
BR446 Horace & Joanne Bridges 20.0000 10,000.00
309 Garland Place
Enumclaw, WA 98022
BR543 Gerald M. & Wilma J. Baker 6.0000 3,000.00
P. O. Box 751
Pismo Beach, CA 93449
BR628 Dora M. Lhotsky - Brodie MD 30.0000 15,000.00
313 Medowbrook Terrace
Greensboro, NC 27408
BR63D Charles Brodie 10.0000 5,000.00
1150-F N. Red Gum Street
Anaheim, CA 92806
BR64N James F & Sylvia Brown 20.0000 10,000.00
of The James F. Brown and
Sylvia Brown Revocable Trust
dated 5-6-93
135 Little River Road
Hampton, NH 03842
BR64V Margaret L. Brodek Trustee 6.0000 3,000.00
Brodek Trust dated 9-25-85,
Sub-Trust A
10146 Babbitt Avenue
Northridge, CA 91325
BR652 Robert A. Brown 20.0000 10,000.00
3703 Little Elk Creek Road
Oxford, PA 19363
BR653 Thomas O. Brown IRA 62.0000 31,000.00
4430 Shady Hill
Dallas, TX 80217-3301
BR664 John J. & Gerolynn Brooks 10.0000 5,000.00
265 Stacy Dr.
Soldotna, AK 99669
BR686 Robert S. Brown 10.0000 5,000.00
1668 Highfield Lane
Brentwood, TN 37027
BR693 Carlton & Lorraine Brouwer 20.0000 10,000.00
4690 120th Ave
<PAGE>
Holland, MI 49424
BR693 Carlton & Lorraine Brouwer 20.0000 10,000.00
4690 120th Ave
Holland, MI 49424
BR703 Paul F. Brown IRA 30.0000 15,000.00
435 North Main
Brigham City, UT 84302
BR705 Warren & Diane Brown 10.0000 5,000.00
34 Plant Avenue
Hudson, MA 01749
BR798 Debbie Peterson Brumfield IRA 5.0000 2,500.00
7315 141 Avenue N.E.
Redmond, WA 98052-4123
BR861 Atys & Sara Brunson Trustees 100.0000 50,000.00
FBO Atys D. Brunson Jr. & Sara
E Brunson Charitable Remainder
Trust dated 09/04/86
1747 St. Tropez Court
Kissimmee, FL 34744
BR989 Roland Bryson 30.0000 15,000.00
174 Rockford Rd.
Kernersville, NC 27284
BU23E Shirley Cheng Buchanan IRA 6.0000 3,000.00
23721 Monument Canyon Drive
Diamond Bar, CA 91765-2361
BU23G Fern Buchler IRA 5.0000 2,500.00
3008 Cindy Drive
Racine, WI 53404-1206
BU392 Barrie Alden Bugbee IRA 6.0000 3,000.00
1064 Palo Verde Avenue
Long Beach, CA 90815-4663
BU463 Tracey L. Buikema TR 10.0000 5,000.00
Cheryl L. Adams Custodian
7337 Roselane Avenue
Jenison, MI 49428-8743
BU756 Celia & A. J. Burlando 20.0000 10,000.00
709 Whitehall Way
Sacramento, CA 95864-6163
BU768 James S. & Patricia Burgbacher 16.0000 8,000.00
4013 Pittwood Road
Danville, VA 24540-5230
BU775 Lawrence S. Burne IRA 4.0000 2,000.00
2051 Shoreline Drive Apt 207
Alameda, CA 94501-6113
<PAGE>
BU79A Judy Buschena Living Trust 20.0000 10,000.00
u/a/d 10/01/96
Judy Buschena, Trustee
7195 159th Street W.
Apple Valley, MN 55124-5132
BU829 Jason T. & Kathryn Butler 6.0000 3,000.00
1924 S. Salem Drive
Anchorage, AK 99508
CA213 Corrine A. Cabell IRA 4.0000 2,000.00
70 Elberta Drive
Sedona, AZ 86336-3536
CA224 Steven H. Crabtree IRA 4.0000 2,000.00
9949 Ledgeside Street
Spring Valley, CA 92078
CA421 Charlotte T. Cahill 50.0000 25,000.00
12651 Seminole Blvd. Lot 24F
Largo, FL 33778
CA483 Arnold & Naomi Cain 30.0000 15,000.00
9664 Cavendish Court
New Port Richey, FL 34655
CA578 The Caldwell Family Trust 12.0000 6,000.00
7800 Saranac Ct.
Orlando, FL 32835
CA587 Hubert D. & Barbara Callihan 18.0000 9,000.00
512 Ruby St. (R.D.)
Windbar, PA 15963
CA59T Catherine Campbell IRA 6.0000 3,000.00
3509 SW 12th Place
Des Moines, IA 50315
CA606 Gene Campana IRA 4.0000 2,000.00
18261 Oak Ridge Drive
Santa ANa, CA 92705-2021
CA731 Katherine D. Cappadona 10.0000 5,000.00
68 Erie Avenue
Newton, MA 02161
CA762 Betty M. Carpenter IRA 8.0000 4,000.00
12431 Broken Bough
Houston, TX 77024
CA771 Casey L. Carlson IRA 6.0000 3,000.00
6621 Cornelia Drive
Edina, MN 55435
CA782 F. Edwin Carpenter IRA 14.0000 7,000.00
12431 Broken Bough
<PAGE>
Houston, TX 77024
CA796 Paul C Casperson Retirement TR 45.0000 22,500.00
Paul C. Casperson, Trustee
3460 Tucker Ranch Road
Wilson, WY 83014
CA798 R. Richard Casto 20.0000 10,000.00
19990 Ibis Court
Dunnellon, FL 34432
CH11L Eddie G. Chandler IRA 30.0000 15,000.00
1159 Aurora Court
Dunwoody, GA 30338
CH129 David S. Chatterton IRA 24.0000 12,000.00
3809 Glenhurst Avenue
St. Louis Park, MN 55416
CH177 Sharath Chandra 20.0000 10,000.00
C. Chandra Custodian
4134 Hamill Road
Hixon, TN 37343
CH260 Child Psychiatry Consultants 40.0000 20,000.00
Pankaj M. Naik, M.D.
307 Londonderry Drive
Waco, TX 76710
CH27J Peter Pai-Tsun Chen IRA 4.0000 2,000.00
P. O. Box 3444
Alhambra, CA 91803
CH466 Ronald M. Childree 6.0000 3,000.00
Plaza at City Hall
8751 West Broward Blvd., #207
Plantation, FL 33324
CI637 Alice McDonald Ciociola 10.0000 5,000.00
14042 90th Avenue
Seminole, FL 33776
CL11R Wesley R. Clark IRA 4.0000 2,000.00
Route 1
Holton, KS 66436
CL11U Phyllis W. Clarke IRA 8.0000 4,000.00
5101 Horseshoe Place N.E.
St. Petersburg, FL 33703
CL125 Louis A. Claassen 10.0000 5,000.00
15009 Timber Lake Circle
Wichita, KS 67230
CL139 Amy C. Clark IRA 4.0000 2,000.00
2403 Kingsland Drive
Doraville, GA 30360
<PAGE>
CL178 Michael S. Clark IRA 5.0000 2,500.00
704 East Drive
Memphis, TN 38112-1711
CL187 William H. Clark IRA 8.0000 4,000.00
5203 Lincolnshire Court
Dallas, TX 75287-5429
CL189 Lyle G. Clarke IRA 5.0000 2,500.00
3475 Cemetary Rd.
Cass City, MI 48726
CL190 Clara Jean Clarke IRA 5.0000 2,500.00
3475 Cemetary Rd.
Cass City, MI 48726
CO424 Marvin & Rose Cohn TTEES under 20.0000 10,000.00
the Marvin & Rose Cohn
Revocable Trust Agreement
dtd 6/2/87
4662 Fountain Drive
Lake Worth, FL 33467
CO426 Morris Cohen IRA 4.0000 2,000.00
7907 Forrestal Rd.
San Diego, CA 92120
CO572 Marjorie Cole Wallace 8.0000 4,000.00
4105 Runnymede Drive
Lilburn, GA 30247-3370
CO574 William R. Cole, Jr. 20.0000 10,000.00
215 Burns Road
Shelbyville, TN 37160
CO57S Bruce D. Cole IRA 15.0000 7,500.00
5240 Franklin Pike
Brentwood, TN 37027
CO604 Jesse L. & Margaret Coltrane 30.0000 15,000.00
920 W. Vandalia Road
Greensboro, NC 27406
CO606 Bartholomew & Kathryn Comstock 40.0000 20,000.00
36017 Allen
Livonia, MI 48154
CO613 Shirley S. Conkwright 6.0000 3,000.00
7930 Driscoll Ave.
Van Nuys, CA 91406
CO621 Jack V Conway & Gail G Conway 40.0000 20,000.00
Trustees of the Conway Trust
Dated January 25, 1988
11786-A Moorpark
Studio City, CA 91604
<PAGE>
CO626 Ivan L. Cook IRA 7.0000 3,500.00
5142 E. Holly street
Phoenix, AZ 85008-3346
CO629 Richard D. & Anita E. Conlon 40.0000 20,000.00
6031 Thomas Ave. S.
Minneapolis, MN 55410
CO631 Patricia A. Cook 20.0000 10,000.00
25408 Via Escalara
Valencia, CA 91355
CO633 Scott & Debra Cooper 10.0000 5,000.00
380 Watercrest Ct.
Holland, MI 49424
CO63Y George Cooper 10.0000 5,000.00
805 Saint Lo
Lufkin, TX 75901
CO677 Timothy S. Cook 10.0000 5,000.00
272 Elemeda Street
Holland, MI 49424
CO747 William & Frieda Cope 10.0000 5,000.00
1333 Shelbourne Dr.
Bethlehem, PA 18018
CO764 Stephen W. & Joan P. Cornell 20.0000 10,000.00
1422 Washington St.
Key West, FL 33040
CO799 Elizabeth A. Howard IRA 5.0000 2,500.00
5718 S. Kenton Street
Englewood, CO 80111
CR11J Charles W. Cramer Gen. Partner 20.0000 10,000.00
The Cramer Separate Property
Limited Partnership 5-31-94
2115 Cross Creek
Arlington, TX 76017
CR722 David A. Crowell 30.0000 15,000.00
22 Green Street APt. #5
Winthrop, ME 04364
CU279 Alex Joseph Cuesta Jr. 20.0000 10,000.00
4411 NW 74 Ave
Lauderhill, FL 33319
CU771 Peter B. and/or Pamela Currie 6.0000 3,000.00
5109 Carter St.
Raliegh, NC 27612-3467
DA210 Mousa I. Dababnah 10.0000 5,000.00
P. O. Box 247
<PAGE>
Beaver, WV 25813
DA532 Theodore Dake Jr. M.D. IRA 14.0000 7,000.00
4207 James Casey
Austin, TX 78745-3362
DA585 James & Catherine Daly Trustee 10.0000 5,000.00
FBO James & Catherine Daly TR
U/A/D 8/27/85
2700 Bayshore Blvd. #9402
Dunedin, FL 34698
DA61B Connie Dantinne 100.0000 50,000.00
P. O. Box 194
Conestoga, PA 17516
DA626 John A. Dantinne 50.0000 25,000.00
252 Willow Valley Drive
Lancaster, PA 17602
DA769 Dominic Darpino 40.0000 20,000.00
5561 N.E. 28th Ave.
Ft. Lauderdale, FL 33308
DA803 Jilleen S. Dasher IRA 4.0000 2,000.00
P. O. Box 3243
Ketchikan, AK 99901-8243
DA96V Robert C. Davis M.D. IRA 20.0000 10,000.00
745 Clark Avenue
Cookeville, TN 37201
DA994 Stephanie K. Day IRA 4.0000 2,000.00
16 Rock Bluff Rd.
Pomona, CA 91766
DE377 Mike D. & Susan DeFrancis 10.0000 5,000.00
19921 Terri Dr.
Canyon Country, CA 91351
DE576 Raymond W. Dell IRA 4.0000 2,000.00
Box 6591
Ketchikan, AK 99901
DE61B Richard T. Denyes 50.0000 25,000.00
30545 Crest Forest #3-806
Farmington
Hills, MI 48331
DE61B Richard T. Denyes 20.0000 10,000.00
30545 Crest Forest #3-806
Farmington
Hills, MI 48331
DE620 Deborah A. Dennehey 6.0000 3,000.00
600 Surf
Lewisville, TX 75067
<PAGE>
DE820 David A. & Marie DeSordi 10.0000 5,000.00
1709 S. Birch Street
Las Vegas, NV 89102
DE954 Resources Trust Co. 4.0000 2,000.00
FBO Gloria DeVore IRA
# I ###-##-####
P. O. Box 5900
Denver, CO 80217-5900
DE964 Samuel C. DeWeese IRA 4.0000 2,000.00
P. O. Box 16
Yorba Linda, CA 92686
DE965 Mae B. DeWeese IRA 6.0000 3,000.00
P. O. Box 16
Yorba Linda, CA 92686
DI232 Steven Dickhaut M.D. Trustee 60.0000 30,000.00
FBO Steven C Dickhaut M.D. PSP
4800 N.E. Stallings Drive #110
Nacogdoches, TX 75961
DI284 Tommy D. Diehl 15.0000 7,500.00
820 Woodland Avenue
LaVale, MD 21502
DI577 John D. Dilts 1.5000 750.00
P. O. Box 38
Forest Dale, VT 05745
DI578 G. Robert Dilts 1.5000 750.00
768 Co. Rt. 85
Oswego, NY 13126
DI579 Mark W. Dilts 1.5000 750.00
98 Rose Street
Phillipsburg, NJ 08865
DI766 Angela Di Rubba 20.0000 10,000.00
Box 175 Mooney Hill Rd.
Patterson, NY 12563
DI957 Diversified Enterprises, Inc. 10.0000 5,000.00
Pension Plan
P. O. Box 729
Pottsboro, TX 75076
DO286 William H. Doering 20.0000 10,000.00
P. O. Box 203
Boulder, WY 82923
DO578 Roveri & Rose M. Dolfi 10.0000 5,000.00
3916 Lake Sarah Dr.
Orlando, FL 32804
DO627 Daniel W. Connell 60.0000 30,000.00
<PAGE>
Thomas B. & Nellie M. Donohue
TTEEs of the Thomas B Donohue
Trust dated 10-14-71
1417 S. Chickasaw Trail
Orlando, FL 32825
DO633 Anna Lisa Doodeheefuer IRA 4.0000 2,000.00
3826 Durness
Houston, TX 77025
DO774 Oliver or Alma Dorn 10.0000 5,000.00
75 Old Mill Drive Unit #9
Holland, MI 49423
DO775 Harold or Evelyn Dorn 15.0000 7,500.00
555 Butternut Drive
Holland, MI 49424
DO836 Anne G. Stafford 7.0000 3,500.00
3023 Taralane Drive
Birmingham, AL 35216-4109
DO871 Thomas George Douglas IRA 50.0000 25,000.00
140 Spring Cove Tr.
Altamonte Sprng, FL 32714
DO969 Chester L. & Joan Dow 6.0000 3,000.00
11600 Cedar Walk Drive
St. Louis, MO 63146-4260
DR11A S. Jack & Virginia Drake 20.0000 10,000.00
19978 Roosevelt Road
South Bend, IN 46614
DR11B Emma L. Drager 10.0000 5,000.00
3082 "C" Via Serena South
Laguna Hills, CA 92653-2583
DR130 Drs. Drake, Siegel & Strasberg 40.0000 20,000.00
PC-Profit Sharing Plan
6025 Walnut Grove #607
Memphis, TN 38120
DR133 Myrna Drake IRA 5.0000 2,500.00
1303 Calais
Memphis, TN 38119
DR281 Rodger & Doris Dreiling 6.0000 3,000.00
203 Blue Spruce
Hutchinson, KS 67502
DR883 Edward M. & Karen L. Drury 50.0000 25,000.00
1400 E. Campbell
Campbell, CA 95008
DU261 Emily A. Dudley IRA 10.0000 5,000.00
16720 Darnestown Road
<PAGE>
Boyds, MD 20841
DU491 Dujon & Dujon MDS PA 40.0000 20,000.00
Profit Sharing Plan dtd5/11/86
FBO Edgardo B. Dujon, M.D.
52 Sunnygrove
Odessa, TX 79761-2229
DU491 Dujon & Dujon MDS PA 20.0000 10,000.00
Profit Sharing Plan dtd5/11/86
FBO Edgardo B. Dujon, M.D.
52 Sunnygrove
Odessa, TX 79761-2229
DU541 Edward J. & Cheryl Duke 20.0000 10,000.00
9651 N. W. 42nd Street
Coral Springs, FL 33065
DU577 Michael Dull 30.0000 15,000.00
26 Summit Avenue
Somerville, MA 02143-1817
DU777 Ronald & Elizabet Durst 12.0000 6,000.00
5509 Southlands Court
Woodstock, GA 30188
DY545 Edward C. Dykema IRA 10.0000 5,000.00
2553 Meadow Drive
Zeeland, MI 49464
EA764 Carole K. Early M.D. IRA 11.0000 5,500.00
P. O. Box 340
Clermont, FL 32711-0340
EA764 Carole K. Early M.D. IRA 10.0000 5,000.00
P. O. Box 340
Clermont, FL 32711-0340
EA764 Carole K. Early M.D. IRA 12.0000 6,000.00
P. O. Box 340
Clermont, FL 32711-0340
EA793 Thomas W. & Shirley A. Easton 20.0000 10,000.00
5802 Bearlake Cr.
Apopka, FL 32703
EA815 Horald W. Eaton Est Trust 10.0000 5,000.00
Mary R. Eaton Trustee
Attn: R. C. Eaton
11245 W. Old Nashville Road
Columbus, IN 47201
EC553 Donald G. Eckhoff Keogh 10.0000 5,000.00
2021 Bellaire
Denver, CO 80207
ED606 James P. Edmunds 10.0000 5,000.00
<PAGE>
723 Teal Lane
Altamonte Sprgs, FL 32701
ED961 Amy Leigh Edwards 10.0000 5,000.00
J. P. Edwards, Custodian
P. O. Box 201422
Austin, TX 78720-1422
ED962 Jan Elizabeth Anderson 10.0000 5,000.00
208 Quail Hollow Lane
East Amherst, NY 14051
EI203 Mildred Eichler 6.0000 3,000.00
19 Young Place
Tuckahoe, NY 10707
EL579 Stuart M. Ellsworth IRA 10.0000 5,000.00
7716 South Harrison Circle
Littleton, CO 80211
EL606 Stanley & Carolyn Elman 10.0000 5,000.00
488 W. Duarte Road, Apt. 9
Arcadia, CA 91007-6839
EP801 Miriam L. Epstein 20.0000 10,000.00
10 Ross Court
Wilmington, DE 19810
EV284 James M. Everhart PSP 30.0000 15,000.00
u/a/d 8/17/79
James M. Everhart Trustee
9399 Madison Avenue
Orangevale, CA 95662
EV287 Maury Jay & Sherry D. Evensky 6.0000 3,000.00
5114 Whitehall Ave.
Memphis, TN 38117
FA768 Cynthia C. Farrens IRA 4.0000 2,000.00
P. O. Box 3821
Homer, AK 99603
FA769 Daryl R. Farrens IRA 4.0000 2,000.00
P. O. Box 3821
Homer, AK 99603
FA806 George & Beverly Fast 6.0000 3,000.00
1526 Brookwood
Hutchinson, KS 67502
FE583 Peter S. Felsenthal 10.0000 5,000.00
2340 Kirby Woods Cove
Memphis, TN 38119
FE776 Frank J. Ferrin MD IRA 20.0000 10,000.00
3426 North Roosevelt Blvd
Key West, FL 33040
<PAGE>
FI250 Nancy C. Fiddler IRA 6.0000 3,000.00
19 Patriot Road
Burlington, MA 01803
FI578 Gwendolyn Files IRA 4.0000 2,000.00
5129 Escalon Avenue
Los Angeles, CA 90043
FI623 Alexander M. Finlay 20.0000 10,000.00
808 Live Oak
Denton, TX 76201
FI815 Theodore Fritzinger 10.0000 5,000.00
1315 Pennsylvania St.
Whitehall, PA 18052
FI986 Janell J. Fix 10.0000 5,000.00
313 Nineth Terrace
Indialantic, FL 32903-2703
FL296 Mary C. Fleming 10.0000 5,000.00
8760 White Oak
Northridge, CA 91324
FL634 Yolanda Ruth Flores IRA 4.0000 2,000.00
6157 Cromwell Avenue
Las Vegas, NV 89107-2527
FO579 Marshal V. Marchbanks 30.0000 15,000.00
Medical Corporation PSP
FBO Marshall V. Marchbanks
3536 Mendocino Ave. Suite 250
Santa Rosa, CA 95403
FO767 Stephen J. Ford IRA 5.0000 2,500.00
2826 199th St. Ave. E
Sumner, WA 98390
FO76K Barbara R. Ford IRA 10.0000 5,000.00
2887 Via Venezia
Deerfield Beach, FL 33442
FO771 Forest Hill Lumber Co. 20.0000 10,000.00
3370 Mansfield Hwy
Fort Worth, TX 76119
FO773 Jeffery L. Forman IRA 5.0000 2,500.00
110 Griswold Drive
West Hartford, CT 06119
FO850 Wallace & Renee Foucault 40.0000 20,000.00
Trustees FBO "The Wallace
Foucault and Renee Foucault
Trust dated 9/19/95
2091 East Vina Del Mar Blvd
St. Pete Beach, FL 33706
<PAGE>
FR116 Bette M. Frank 40.0000 20,000.00
1908 Ship Court
Toms River, NJ 08753
FR119 Herbert H. & Jackie G. Franke 30.0000 15,000.00
279 Sunset Drive N.E.
Abingdon, VA 24210
FR11K Rex R & Nancy D Fraizer TTEE's 20.0000 10,000.00
Fraizer Family Trust
dtd 1-20-93
8610 Verde Way
Las Vegas, NV 89129-4145
FR278 Philip P. & Debra I. Freed 20.0000 10,000.00
28 Redcoat Lane
Trumbull, CT 06611
FR287 Nita R. French 12.0000 6,000.00
799 Hillpine Drive, NE
Atlanta, GA 30306
FR430 J. Kent Friedman 20.0000 10,000.00
700 Louisiana, Ste. 1900
Houston, TX 77002
FR649 Eugene C. Froelich 4.0000 2,000.00
Rt. 1
Piper City, IL 60959
FR982 Fonda T. Fry 3.0000 1,500.00
102 Cypress Road
Wildwood, FL 34785-9772
FR982 Fonda T. Fry 2.0000 1,000.00
102 Cypress Road
Wildwood, FL 34785-9772
FU421 Bruce V. & Mary E. Fuhr 50.0000 25,000.00
2333 Cypress Drive
Grand Prairie, TX 75050
FU585 Beverly J. Fuller 30.0000 15,000.00
200 Harbor Woods Place
Newport Beach, CA 92660
FU616 Fund Raising Specialists, Inc 10.0000 5,000.00
Pension Plan
Robert Grasso TTEE
P. O. Box 2498
Woburn, MA 01888
FU763 John W. Furness IRA 30.0000 15,000.00
27510 N. Bay Road
P. O. Box 4145
Blue Jay, CA 92317
<PAGE>
GA459 Stephen E. & Janet R. Gainer 22.0000 11,000.00
824 Chesnut St.
Parkersburg, WV 26101
GA463 Stephen E. Gainer IRA 4.0000 2,000.00
824 Chestnut St.
Parkersburg, WV 26101
GA464 Janet R. Gainer IRA 4.0000 2,000.00
824 Chestnut St.
Parkersburg, WV 26101
GA591 Herminio L & Phoebe J Gamponia 6.0000 3,000.00
Living Trust
dtd 7/11/92
413 Green Acres Circle
Spencer, WV 25276
GA61B Vincent Gandolfo IRA 4.0000 2,000.00
7648 Clementine Way
Orlando, FL 32819-4610
GA622 Edwin E. Gann 5.0000 2,500.00
2808 Creekwood Lane
Ft. Worth, TX 76123
GA623 Sherry Kimbrell 5.0000 2,500.00
Rt. 1, Box 108
Ringling, OK 73456
GA766 Terry L. Gardiner 20.0000 10,000.00
3648 W. W. Lawton
Seattle, WA 98199
GA76O Ira J. Garbutt IRA 10.0000 5,000.00
1601 Dove St., Ste. 110
Newport Beach, CA 92660
GA774 Randy L. & Shirley D. Garrett 18.0000 9,000.00
1317 Forest Court
Villa Rica, GA 30180
GE575 Peggy J. Gelbrich IRA 6.0000 3,000.00
Rt. 1 Box 808
Ketchikan, AK 99901
GI21A R. P. Gibson, Jr. 5.0000 2,500.00
30547 Blanco Road 3
Bulverde, TX 78163
GI21A R. P. Gibson, Jr. 2.0000 1,000.00
30547 Blanco Road 3
Bulverde, TX 78163
GI428 Naomi R. Gilbert 6.0000 3,000.00
2327 Yale Avenue E #H
<PAGE>
Seattle, WA 98102
GI579 Eugene C. & Georgia L. Gilliam 20.0000 10,000.00
8872 Lakeview Rd.
Lakeside, CA 92040
GI581 Robert & Evelyn Gillmore 20.0000 10,000.00
4685 Porter
Fremont, CA 94538
GI587 Linda D. Gilson IRA 4.0000 2,000.00
3857 Fairview
Ketchikan, AK 99901
GI617 Joe & Mary Gingerich 10.0000 5,000.00
7490 Converse Huff Road
Plain City, OH 43064
GI619 Joe L. Gingerich IRA 6.0000 3,000.00
7590 Converse Huff Road
Plain City, OH 43064
GI626 Cindy Ginos IRA 4.0000 2,000.00
2891 Echo Valley Road
Jamul, CA 91935
GI627 Robert B. Ginos IRA 4.0000 2,000.00
2891 Echo Valley Road
Jamul, CA 91935
GL275 Janet Glenn 44.0000 22,000.00
4851 Alpine Drive
Lilburn, GA 30247
GL447 Laurence R. Glick IRA 6.0000 3,000.00
78569 Bougainvillea Drive
Palm Desert, CA 92211
GO579 Robert H. Gold D.P.M.,P.A. 40.0000 20,000.00
Profit Sharing Plan
3804 Elvis Presley Blvd.
Memphis, TN 38116-4199
GO586 Gary Goldsmith IRA 12.0000 6,000.00
7108 Midbury
Dallas, TX 75230
GO627 Timothy Goodger IRA 7.0000 3,500.00
14615 W. 50th Street
Shawnee, KS 66219
GO633 Warren & Alice Goode 10.0000 5,000.00
520 W. 4th St.
Ontario, CA 91762
GO646 Pete Goodson 20.0000 10,000.00
60 Honeysuckle Woods
<PAGE>
Lake Wylie, SC 29710
GO647 John Goott IRA 17.0000 8,500.00
770 S. Post Oak Lane, #410
Houston, TX 77056
GO773 Ken Gordon 50.0000 25,000.00
6878 Burwood
Dallas, TX 75214
GO779 Marion Gornbein Trustee 10.0000 5,000.00
FBO Marion Gornbein Trust
u/a/d 4/29/83
2372 NW Seventh Court
Delray Beach, FL 33445-2084
GR120 David & Janice Grand 23.0000 11,500.00
3431 Georgia Ave No.
Minneapolis, MN 55427
GR124 Samuel R. Granett 6.6000 3,300.00
3500 Woodcutters Way
Austin, TX 78746-1540
GR129 Kenneth P. Grant IRA 5.0000 2,500.00
3029 Coves Court
Lithonia, GA 30058
GR273 John M. Greenwood 30.0000 15,000.00
17 Meredith Avenue
Newton, MA 02161
GR27A Christine Gregory IRA 6.0000 3,000.00
2216 30th Avenue South
Nashville, TN 37212
GR28A Helen R. Greenlaw Trustee 10.0000 5,000.00
The Helen R. Greenlaw Living
Trust dated 3-13-95
P. O. Box 70
Georgetown, CA 95634
GR43D John W. Griffin M.D. 70.0000 35,000.00
523 Brookhollow
Port Lavaca, TX 77979
GR442 Sonya M. Lindblom 10.0000 5,000.00
3702 Quail Marsh Court
High Point, NC 27265
GR666 Steve M. & Nita Grothe 6.0000 3,000.00
Rt 5 Box 375C
Decatur, TX 76234-9752
GR863 Fredric F. & Dolores Gruber 50.0000 25,000.00
1375 Bristol Park Place
Heathrow, FL 32746
<PAGE>
GR863 Fredric F. & Dolores Gruber 30.0000 15,000.00
1375 Bristol Park Place
Heathrow, FL 32746
GU283 R. Leo Guest IRA 10.0000 5,000.00
1250 College Way
Ontario, CA 91764
GU765 Morton Gurdin 10.0000 5,000.00
16722 Boca Delray Drive
Delray Beach, FL 33484
GU791 Kenneth & Linda Gusnowski 13.4000 6,700.00
221 Skyline Rd.
Georgetown, TX 78628
GU884 Carl E. Gunderson 36.0000 18,000.00
1113 Estates Drive
Fairfield, CA 94533-9702
HA166 Roger Haase 20.0000 10,000.00
19 White Aspen Court
Little Rock, AR 72212
HA256 Sally C. Doster 20.0000 10,000.00
5147 Joel Lane
Atlanta, GA 30360-1413
HA577 Lisle A. & Clara M. Hale 24.0000 12,000.00
830 Washington Place E
Sequim, WA 97382-4109
HA596 S. Graham Hamilton 50.0000 25,000.00
P. O. Box 2024
Winter Park, FL 32790
HA598 Gene T. Hamilton MD IRA 6.0000 3,000.00
419 Lee Street
Greenville, NC 27834
HA599 Donald F. & Jean K. Hammond 20.0000 10,000.00
1870 Cherry Grove Road North
Suffolk, VA 23432
HA612 Hamner Hannah III M.D. IRA 26.0000 13,000.00
11500 Canterbury Circle
Leawood, KS 66211
HA615 June G. Hanna 20.0000 10,000.00
400 Plaza Estival
San Clemente, CA 92672
HA61G George A. Hanson Jr. IRA 50.0000 25,000.00
4718 Heintz AveNUE
Kansas City, MO 64133-2346
HA760 Michael Harp IRA 5.0000 2,500.00
<PAGE>
3100 Broadway, Ste. 1114
Kansas City, MO 64111
HA761 The Harris Family Trust 50.0000 25,000.00
2241 S. W. Starling Drive
Palm City, FL 34990
HA764 Roger U. Hart IRA 30.0000 15,000.00
11852 Caminito Corriente
San Diego, CA 92128
HA765 Robert Harman IRA 4.0000 2,000.00
36 Stonington Roan
Laguna Beach, CA 92677
HA767 Margaret R. Harder 6.0000 3,000.00
164 Karyl Street
Burlington, WI 53105
HA768 Ivan G & Margaret A. Harken 20.0000 10,000.00
1014 Quinn
Aplington, IA 50604
HA769 Lee C. Harrison 10.0000 5,000.00
1351 Whitetail Court
Wichita, KS 67206
HA777 Cheryl Wood Harris 6.0000 3,000.00
c/o Texaco China Pouch-CACT
2000 Westchester Avenue
White Plains, NY 10650-0001
HA778 Robert L. Harris 40.0000 20,000.00
P. O. Box 668
San Marcos, TX 78667-0668
HA779 Hartsville Cabinet & Millwork 10.0000 5,000.00
P. O. Box 237
Hartsville, TN 37074
HA77K Richard W. Hardman 10.0000 5,000.00
5029 Water Vista Drive
Orlando, FL 32821
HA77N Eppler Guerin & Turner 20.0000 10,000.00
FBO B.R. Harrison MD & Assoc.
Emp. PSP dated 7/1/81
401 Cypress
Abilene, TX 79601
HA77X Helen Hartneck 5.0000 2,500.00
c/o Gregory Debay
15215 52nd Avenue S#9
Seattle, WA 98188
HA787 Hardinge Revocable Living 40.0000 20,000.00
Trust, SubTrust B, H. DeForest
<PAGE>
Hardinge,Trustee,u/t/d 8/27/96
7270 W. Mercer Way
Mercer Island, WA 98040-5534
HA899 John J. & Marie A. Haughton 20.0000 10,000.00
P. O. Box 1346
Dennisport, MA 02639
HA913 Sheldon S. Hausman IRA 4.0000 2,000.00
47 Toll Gate Lane
Avon, CT 06001
HA975 Nancy L. Lee IRA 20.0000 10,000.00
P. O. Box 1146
Fair Oaks, CA 95826
HA993 John D. Hayden, Jr. M.D. P.C. 40.0000 20,000.00
4750 West Crestview Circle
Tucson, AZ 85745
HA994 Gary L. Haynes IRA 5.0000 2,500.00
625 Sunset Drive North
Ketchikan, AK 99901-9151
HE444 Mark A. Heidmann IRA 4.0000 2,000.00
1520 W. Warner Road Suite 203
Gilbert, AZ 85233
HE627 Vernon & Helen Henriques 12.0000 6,000.00
8012 NW 101 Avenue
Tamarac, FL 33321
HE62E Thomas L. Hendrix Trustee 8.0000 4,000.00
of The Hendrix Family
Revocable Trust dated 6-1-93
1931 Rockwood Drive
Sacramento, CA 95864
HE762 Julius P. Herbert IRA 9.0000 4,500.00
105 Parnell Drive
Houma, LA 70360-6125
HE76P Anne B. Herman 44.0000 22,000.00
66 Grand Avenue
Suwsnee, GA 30024
HE773 John M. & Karen A. Herron 14.0000 7,000.00
33333 County Road 12
Anton, CO 80801-9605
HE786 John B. & Elizabeth Hertling 20.0000 10,000.00
4510 Larado Place
Orlando, FL 32806
HE786 John B. & Elizabeth Hertling 20.0000 10,000.00
4510 Larado Place
Orlando, FL 32806
<PAGE>
HE793 Norma Jo Hess 1.5000 750.00
73 Bullman Street
Phillipsburg, NJ 08865
HE854 Mary Lou Heuett IRA 4.0000 2,000.00
P. O. Box 882
Tucson, AZ 85702-0882
HI241 Marlyn L. Hicks 20.0000 10,000.00
5123 Pacifica Dr.
San Diego, CA 92109
HI253 Harry T. and Claire Hickson 20.0000 10,000.00
3601 Abercorn St.
Savannah, GA 31405
HI573 Robert S. Hill 10.0000 5,000.00
1735 Bella Casa Drive
Woodland, CA 95695
HI573 Robert S. Hill 5.0000 2,500.00
1735 Bella Casa Drive
Woodland, CA 95695
HI576 Hilcrest Clinic PA 40.0000 20,000.00
P. O. Box 369
Erin, TN 37061
HI616 Ben M. Hiner IRA 4.0000 2,000.00
4120 Thoroughgood Drive
Virginia Beach, VA 23455
HI616 Ben M. Hiner IRA 5.0000 2,500.00
4120 Thoroughgood Drive
Virginia Beach, VA 23455
HO290 James & Genanne Hoene 10.0000 5,000.00
3027 Greyfield Trace
Marietta, GA 30067
HO399 Fr. James C. Hoge 10.0000 5,000.00
5521 W. Pine Circle
Crystal River, FL 32629
HO401 John R. Hogle IRA 10.0000 5,000.00
12622 57th Avenue West
Everett, WA 98204
HO402 Thomas B. & Virginia C. Hogan 6.0000 3,000.00
4129 Allenhurst Dr.
Norcross, GA 30092
HO561 James & Nancy Hokanson 10.0000 5,000.00
10605 West Concho Circle
Sun City, AZ 85373
HO57G Dellon H. Holt IRA 4.0000 2,000.00
<PAGE>
5336 Blue Sage Drive
Raleigh, NC 27606
HO57H Carolyn C. Holt IRA 4.0000 2,000.00
5336 Blue Sage Drive
Raleigh, NC 27606
HO587 Michael W. Hollenbeck 8.0000 4,000.00
1275 Saratoga Lane
Geneva, FL 32732
HO588 NABOB 8.0000 4,000.00
FBO Clarence Holland MPP
Financial Services Dept.
Attn: Securities Processing
P. O. Box 7088
Wyomissing, PA 19610-6088
HO589 NABOB 12.0000 6,000.00
FBO Clarence Holland PSP
Financial Services Dept.
Attn: Securities Processing
P. O. Box 7088
Wyomissing, PA 19610-6088
HO647 Mary H. Hoobler 80.0000 40,000.00
17 Ingleton Circle
Cartmel
Kennett Square, PA 19348-2000
HO747 Carl A. & Jarine L. Hopmann 10.0000 5,000.00
12319 Burgoyne Dr.
Houston, TX 77077
HO76M First Victoria National Bank 50.0000 25,000.00
FBO Maurice S. Horine IRA
a/c #3730
P. O. Box 1338
Victoria, TX 77902-1338
HO76N Leroy G. Hornbeck IRA 5.0000 2,500.00
P. O. Box 45730
Seattle, WA 98145-0730
HO76R George R. Horner Trust 20.0000 10,000.00
Geroge R. Horner, Trustee
P. O. Box 60610
Fairbanks, AK 99706
HO789 Robert S. Horowitz 20.0000 10,000.00
1677 Tullie Circle, Suite 118
Atlanta, GA 30329
HO962 James W. & Virginia C. Howard 20.0000 10,000.00
221 N. Co. Rd. 900 E.
Indianapolis, IN 46234
HO965 Helen Howell or Alfred Warren 20.0000 10,000.00
<PAGE>
Apartado 749
San Pedro Sula
Honduras
Central America
HO968 Donald R. & Terri L. Howells 20.0000 10,000.00
3132 Masters Dr.
Clearwater, FL 33519
HO96A Tia S. Howard IRA 8.0000 4,000.00
1417 Cranapple Cove
Nashville, TN 37207-6012
HU39D Winifred Hughey IRA 25.0000 12,500.00
5722 Moonlight Circle
Orlando, FL 32839
HU586 Betty B. Pope 20.0000 10,000.00
1002 Northfield Blvd
Forrest Oaks A-104
Murfreesboro, TN 37130
HU617 Carole A. Hunka IRA 9.0000 4,500.00
125 Hardin Ct.
Grenta, LA 70056
HU61E Terry B. Hunka IRA 12.0000 6,000.00
125 Hardin Court
Grenta, LA 70056
HU61H Robert J. Hunting IRA 4.0000 2,000.00
803 Brookside Road
Maitland, FL 32751
HU630 Oscar H. & Catherine S. Hunt 30.0000 15,000.00
2391 Rosswood Road
Trinity, NC 27370
HU803 Don R. & Jessie M. Huston 10.0000 5,000.00
110 North Emporia
Haven, KS 67543
IN254 Indelicato Living Trust dated 6.0000 3,000.00
4/22/96, Gregory J. Indelicato
and Pauline Indelicato, TTEES
333 NW 45 Terrace
Deerfield Beach, FL 33442
IN812 Merchants National Bank 10.0000 5,000.00
FBO Internal Medicine P.A.
Employees Profit Sharing Plan
& Trust #303 Attn: Trust Dept
P. O. Box 178
Topeka, KS 66601
IN816 Kerry Johnson Trustee 30.0000 15,000.00
International Productivity
<PAGE>
Systems Fixed Benefit PP
11151 Cherry Hill
Santa Ana, CA 92705
IN817 James G. Stensby M.D. IRA 40.0000 20,000.00
Route 3 Box 235-C
Winchester, TN 37398
IN837 Internal Medicine Specialists 20.0000 10,000.00
P. O. Box 1567
Downey, CA 90240
IR111 Barbara S. Ira IRA 5.0000 2,500.00
2601 Orleans
Bellingham, WA 98226
IR446 Michael Irish IRA 4.0000 2,000.00
4600 S. Ulster Street #700
Denver, CO 80237
IR971 Blanche Irwin or Lynn Bixler 20.0000 10,000.00
or Robert Irwin
615 Summit St. Apt #1
King of Prussia, PA 19406
IS681 James K. Isom Tr. 6.0000 3,000.00
50 N. University Dr.
Plantation, FL 33324
JA217 A. Everette James M.D. 10.0000 5,000.00
St. James Place
P. O. Box 789
Robersonville, NC 27871
JA599 Gerald P. Jambon IRA 4.0000 2,000.00
2150 Mars St.
Harvey, LA 70058
JA602 Mrs. Jeannette C. James 60.0000 30,000.00
33 White Oak Road
Asheville, NC 28803
JA617 Charles Janak IRA 15.0000 7,500.00
717 Greentree Court
Lake Mary, FL 32746
JA618 Arlene A. Janak IRA 15.0000 7,500.00
717 Greentree Court
Lake Mary, FL 32746
JA628 Jeanne C. Janssen 50.0000 25,000.00
210 Flager Lane
West Palm Beach, FL 33407
JA761 R. Brooks Jarrell 60.0000 30,000.00
3240 Memorial Blvd.
Murfreesboro, TN 37129
<PAGE>
JE219 Suzanne P. Jebe 30.0000 15,000.00
5340 Hampshire Drive
Minneapolis, MN 55419
JE618 James & Nancy Jenkins 10.0000 5,000.00
7767 Waterpark Lane
Houston, TX 77086
JE628 Lynn S. Jensen IRA 6.0000 3,000.00
119 Summit Drive
York, PA 17404
JE962 Carla R. Jewell 4.0000 2,000.00
3400 N. Pershing Street
Hutchinson, KS 67502-2958
JI771 James O. Jirsa IRA 9.0000 4,500.00
8800 Point West
Austin, TX 78759
JO41F Gregory Johnson IRA 8.0000 4,000.00
P. O. Box 344
Meridian, ID 83642
JO421 Margaret L. Johnston IRA 8.0000 4,000.00
2846 Zarthan Ave S
St Louis Park, MN 55416
JO423 Johnson Revocable Trust 10.0000 5,000.00
u/a/d 7/18/85 Owen & Gloria
Johnson Trustees
2120 Mirmar Drive
Balboa, CA 92661
JO428 Steven E. Johnson, M.D. 12.0000 6,000.00
5009 Highland Meadow
Fort Worth, TX 76132-3815
JO42H The Johnston Family Trust 100.0000 50,000.00
Carl B. Johnston and Helena C.
Johnston, Trustees
7562 Regency Drive
Palm Springs, CA 92264
JO42H The Johnston Family Trust 140.0000 70,000.00
Carl B. Johnston and Helena C.
Johnston, Trustees
7562 Regency Drive
Palm Springs, CA 92264
JO434 Douglas H. Johnson and 60.0000 30,000.00
Cynthia G. Geddes Co-Trustee's
Johnson Irrevocable Trust
U/A/D 10/8/92
2507 Leisure World
Mesa, AZ 85206
<PAGE>
JO570 William Jolliffe 40.0000 20,000.00
8268 So. Locust Street
Englewood, CO 80112
JO618 James D. Jones IRA 4.0000 2,000.00
P. O. Box 9107
Ketchikan, AK 99901
JO763 Marion H. Jordan, M.D. 6.0000 3,000.00
3309 Old Point Road
Edgewater, MD 21037
KA571 Roger M. Kalar 20.0000 10,000.00
173 Reverknolls
Avon, CT 06001
KA739 Bertram D. & Miriam Kaplan 50.0000 25,000.00
8217 Bryn Manor
Germantown, TN 38138
KA742 Robert J. & Bertram D. Kaplan 50.0000 25,000.00
M. D., PA Retirement Plan
910 Madison Avenue Ste 922
Memphis, TN 38103
KA773 George J. & Fannie Karedis 30.0000 15,000.00
1249 Saltcreek Court
Holiday, FL 34690
KA793 Misako Kashiki TTEE 10.0000 5,000.00
Kashiki Family Trust
UDT 10/1/93
5580 Camino Real
Riverside, CA 92509
KA849 Steven E. Katzman 60.0000 30,000.00
34 Powder Creek Dr.
Belleville, IL 62223
KE166 Walter M. & Sharlene Kearney 25.0000 12,500.00
6653 Ocean Pines
Berlin, MD 21811
KE289 Terry D. Keegan IRA 28.0000 14,000.00
4440 Bienville
New Orleans, LA 70119
KE574 Sylvia M. Kelley 40.0000 20,000.00
418 Landsbury Drive
Weddington, NC 28173
KE577 Joan M. Kelly 10.0000 5,000.00
2701 67th Street North
St. Petersburg, FL 33710-3148
KE604 Michael M. Kempotich IRA 10.0000 5,000.00
<PAGE>
16825 24th Ave. N
Plymouth, MN 55447
KE617 K. Robert & Patricia Kennedy 6.0000 3,000.00
8607 Imogene
Houston, TX 77074
KE61J Bruce C. Kenny 4.0000 2,000.00
30570 Middle Creek Circle
Daphne, AL 36527
KE61M Phyllis Kennedy/Kay M. Walter 12.0000 6,000.00
755 Woodbridge Drive
Medford, OR 97504-3300
KE627 Zelma Kenney & Loretta Mathews 20.0000 10,000.00
13005 Broili
Reno, NV 89511
KE802 Edward Jay Kessler IRA 8.0000 4,000.00
2440 Lone Jack Rd.
Olivehain, CA 92024
KE803 Margaret B. Kessler IRA 8.0000 4,000.00
2440 Lone Jack Rd.
Olivehain, CA 92024
KE836 Mark & Carol Kettner 6.0000 3,000.00
92-1239 Hunekai Street
Ewa Beach, HI 96707
KI378 The Ruth Lucille Kifer Living 10.0000 5,000.00
Trust u/t/a March 26, 1987
Ruth Lucille Kifer, Trustee
or her successor trustee
331 Exeter Avenue
Eugene, OR 91504
KI579 Michael J. Kiley 4.0000 2,000.00
2030 Main Street Ste 1240
Irvine, CA 92614
KI593 Commerce Bank, NA Trustee 60.0000 30,000.00
FBO Kimple Mold Corp. PSP
a/c #930028014
150 Main Street
Wichita, KS 67202
KI613 The Estate of Floyd W. King Jr 6.0000 3,000.00
c/o Gloria King
520 South 303rd Street
Federal Way, WA 98003
KI620 Bruce O. King 10.0000 5,000.00
P. O. Box 1898
Mt. Pleasant, TX 75455
KI627 Steven L. & Janet N. Kinzler 87.0000 43,500.00
<PAGE>
11 Glenleigh
Little Rock, AR 72207
KI628 Janet N. Kinzler Trust 74.0000 37,000.00
11 Glenleigh Drive
Little Rock, AR 72207
KI762 Mildreene J. Kirby 20.0000 10,000.00
1825 Brighton
Grover City, CA 93433
KI774 Alan T. & Susan Kirby 20.0000 10,000.00
2675 Reynolds Drive
Winston-Salem, NC 27104
KI801 Michael A. Kisel IRA 10.0000 5,000.00
370 Orizaba Ave.
Long Beach, CA 90814
KI953 Michael & Mildred Kivatisky 6.0000 3,000.00
3646 E. Harmon Ave.
Las Vegas, NV 89121
KL283 Betty L. Kleiman 20.0000 10,000.00
12323 Montego Plaza
Dallas, TX 75230
KN431 Walter Knieling IRA 20.0000 10,000.00
9812 Spring Oak Dr.
Bakersfield, CA 93311
KN431 Walter Knieling IRA 5.0000 2,500.00
9812 Spring Oak Dr.
Bakersfield, CA 93311
KN466 John W. & Joanne S. Knight 12.0000 6,000.00
8499 Collinswood Drive
Olive Branch, MS 38654
KO232 Gale Koch IRA 4.0000 2,000.00
6312 Mandarin
Las Vegas, NV 89108
KO393 John M Koger IRA 20.0000 10,000.00
c/o Koger Agency
P. O. Box 4587
Topeka, KS 66604-0587
KO413 Mary Ann Kohn 17.0000 8,500.00
2041 E. Columbia Street
Allentown, PA 18103
KO618 Lawrence K. Koning 4.0000 2,000.00
900 South Main Ste 209
Corona, CA 91720-3498
KO628 Stan or Jayne Konynenbelt 14.0000 7,000.00
<PAGE>
10109 Holiday
Zeeland, MI 49464
KO779 Charles R. & Elizabeth Korman 10.0000 5,000.00
11 Brookglen Drive
Greensboro, NC 27410-2756
KO811 Charles D. Koteen 14.0000 7,000.00
98 Newport Avenue
West Hartford, CT 06117
KO830 Lois Koteen 10.0000 5,000.00
98 Newport Avenue
West Hartford, CT 06107
KR120 William L. Kraus III 6.0000 3,000.00
c/o Kraus Energy Consolidated
P. O. Box 66
Newark, DE 19715
KR126 Leo C. & Theresa Kranz 8.0000 4,000.00
34 Greentree Lane
Conroe, TX 77304-1108
KR137 William L. Kraus III 6.0000 3,000.00
Kraus Foundation
P. O. Box 66
Newark, DE 19715
KR191 Brey Krause-Smoyer Brass 100.0000 50,000.00
Employee Benefit Fund
40 Iron Clad
Salem, SC 29676
KR200 Ernest C. & Martha Krauth 40.0000 20,000.00
2950 sT. aNDREWS bLVD.
Tarpon Springs, FL 34689
KR633 James Kroncke 2.0000 1,000.00
4185 Dimholt Court
Winston-Salem, NC 27104
KR634 Frederick Kroncke 2.0000 1,000.00
156 Candlewood Road
Rocky Mount, NC 27804
KR634 Frederick Kroncke 2.0000 1,000.00
156 Candlewood Road
Rocky Mount, NC 27804
KR635 Marvin W. Kronenberg IRA 6.0000 3,000.00
14 Vaughan Ridge
Bloomfield Hill, MI 48304
KR635 Marvin W. Kronenberg IRA 6.0000 3,000.00
14 Vaughan Ridge
Bloomfield Hill, MI 48304
<PAGE>
KU416 Bonnie M. Kuhn 20.0000 10,000.00
Box 98
Funkstown, MD 21734
KU839 William & Elizabeth Kutz 10.0000 5,000.00
201 Hartranft Ave. Coleston
Norristown, PA 19401
KW641 Ronald Kwok & Karen Buxbaum 20.0000 10,000.00
5757 Evening Canyon Drive
La Canada
Flintridge, CA 91011
KY545 Daniel C. Kyker, Jr. 40.0000 20,000.00
145 Bent Tree Drive
Hendersonville, NC 28739
LA212 John & Irene LaBeda 10.0000 5,000.00
747 Marsopa Dr.
Vista, CA 92083-6482
LA446 Wesley B. Laine 10.0000 5,000.00
526 Virginia Dare Drive
Virginia Beach, VA 23451
LA536 Glen W. Lake 20.0000 10,000.00
530 Waterford Drive
Roanoke, VA 24014
LA595 Brian Lamb 6.0000 3,000.00
2420 S. Queen Street
Arlington, VA 22202
LA616 Osman E. Lang & Lorraine J. 20.0000 10,000.00
Lang Trustees of The Lang
Family Trust dated 4-3-95
P. O. Box 670254
Chugiak, AK 99567
LA775 Eston & Betty Larsen 10.0000 5,000.00
1306 A Wheatland Drive
Hutchinson, KS 67502-5670
LA855 Jerry B. & Anne W. Lauer 6.0000 3,000.00
9024 Crichton Woods Dr.
Orlando, FL 32819
LA857 Ben F. Lautenslager IRA 30.0000 15,000.00
8991 Whirlaway
Alta Loma, CA 91701-1416
LA997 Jean Gartin Lazar 12.0000 6,000.00
446 Vista Roma
Newport Beach, CA 92660
LE117 Phillip B. Leavenworth cust. 5.0000 2,500.00
<PAGE>
FBO Helen Rachell Leavenworth
230 North Grove Street
Mt. Horeb, WI 53572-1616
LE186 Yvonne F. Leander IRA 4.0000 2,000.00
2239 Rolland St.
Marietta, GA 30062
LE258 Charles M. Lederer, Jr. 40.0000 20,000.00
9905 East 83 Terrace
Raytown, MO 64138
LE271 Patricia Ann Lee Custodian 10.0000 5,000.00
For Roger Scott Lee
16327 Mt. Islip Circle
Fountain Valley, CA 92708
LE273 Patricia Ann Lee Custodian 10.0000 5,000.00
For Nancy Suzanne Lee
16327 Mt. Islip Cir.
Fountain Valley, CA 92708
LE363 George Leever IRA 7.0000 3,500.00
9581 Oak Point Cove
Arlington, TN 38002
LE410 George E. Lehigh IRA R/O 10.0000 5,000.00
Summerwood Estates
Route 1, Box 117-8
Omaha, AR 72662
LE420 Barbara H. Leever IRA 5.0000 2,500.00
9581 Oak Point Cove
Arlington, TN 38002
LE636 Janet M. Leon Trustee 8.0000 4,000.00
of the Janet M. Leon Revocable
Trust U/A/D 7-20-93
140 Wagon Wheel Way
Lake Mary, FL 32746
LE95C Lester H. & Tekla P. Levy 20.0000 10,000.00
15 Lindworth Drive
St. Louis, MO 63124
LE963 Elaine H. Lewis IRA 8.0000 4,000.00
4168 Blue Heron Court
Las Vegas, NV 89121
LE965 James R. & Deldee L. Lewis 10.0000 5,000.00
1810 E. Riverview
Colbert, WA 99005
LE973 Lynn E. Lewis 10.0000 5,000.00
1607 Summit View
Anchorage, AK 99504
LI213 Matthew A. Liberatore IRA 5.0000 2,500.00
<PAGE>
3621 Stanford Circle
Falls Church, VA 22041
LI214 Katherine K. Liberatore IRA 5.0000 2,500.00
3621 Stanford Circle
Falls Church, VA 22041
LI593 Lisa K. Lim 7.0000 3,500.00
1444 Cimarron Drive
Holland, MI 49423
LI605 Robert W. & Lois P. Lindberg 50.0000 25,000.00
37 Buena Vista Dr.
White Plains, NY 10603
LI614 Joyce A. Jackson 10.0000 5,000.00
384 Whirlaway Drive
San Jose, CA 95111
LI617 Daniel M. Linguiti IRA 4.0000 2,000.00
P. O. Box 2261
Winter Park, FL 32790-2261
LI61K George & Eleanor Lindenbaum 10.0000 5,000.00
141 Vista del Parque
Redondo Beach, CA 90277
LI61K George & Eleanor Lindenbaum 5.0000 2,500.00
141 Vista del Parque
Redondo Beach, CA 90277
LO211 Peter LoBello IRA 8.0000 4,000.00
5624 NW 23rd Terrace
Boca Raton, FL 33496
LO266 Hilary P. Lodermeier 6.0000 3,000.00
3323 Elkhorn Blvd
N. Highlands, CA 95660
LO269 Joseph & Diane LoDuca 20.0000 10,000.00
36366 Haverhill
Sterling Hts., MI 48312
LO270 Lazarus J. Loeb M.D. IRA 10.0000 5,000.00
1504 Westover Lane
Ft. Worth, TX 76107
LO337 Henry J. Loewenstein 40.0000 20,000.00
Revocable Trust Agreement
dtd 1-12-87
1020 N. Northlake Drive
Hollywood, FL 33019
LO596 Dominic Lombardi 6.0000 3,000.00
3410 Erie Blvd. East
De Witt, NY 13214-1805
LO681 Richard J. & Marion E. Looney 10.0000 5,000.00
<PAGE>
400 SW 297th St.
Federal Way, WA 98023
LO994 Paul B. Loyd IRA 28.0000 14,000.00
3635 Granby Court
San Antonio, TX 78217
LO996 Jose Lozano, M.D. 6.0000 3,000.00
2099 Dowlen Road #23
Beaumont, TX 77706-3363
LU288 Milton Lee Luedke 10.0000 5,000.00
304 E. Ward
Waco, TX 76706
LU288 Milton Lee Luedke 22.0000 11,000.00
304 E. Ward
Waco, TX 76706
MA391 Joan Maggio 100.0000 50,000.00
599 Wagontown Road
Coatesville, PA 19320
MA401 Carl & Charlene Magee 10.0000 5,000.00
3210 Bluff Blvd.
Holiday, FL 34691-9713
MA404 Gloria & Adeline Magnani 20.0000 10,000.00
3 North Banyan Ct.
Taylors, SC 29687
MA406 Gladys Maghakian 6.0000 3,000.00
35 Julio Drive #319
Shrewsbury, MA 01545-3050
MA574 Bernard & Eleanor Malacco 10.0000 5,000.00
1308 Wyoming Ave.
Exeter, PA 18643
MA576 Willard L. Maletz 8.0000 4,000.00
238 Fourteenth Street
Seal Beach, CA 90740-6507
MA57E John A. Mallory IRA 18.0000 9,000.00
252 Mercedes Lane
Arroyo Grande, CA 93420
MA614 Susan Mann IRA 4.0000 2,000.00
1201 W. Valencia #46
Fullerton, CA 92633-3317
MA624 Jack L. Manwaring or Jane L. 70.0000 35,000.00
Manwaring,Trustees FBO Jack L.
Manwaring and Jane L Manwaring
Trust u/a/d 05/17/88
400 E. Howry #155
DeLand, FL 32724
<PAGE>
MA766 Dolores Maragni 100.0000 50,000.00
Marina Bay Club #48
580 Patten Ave.
Long Branch, NJ 07740
MA770 E. J. Marshall & R. J. Faucett 10.0000 5,000.00
P. O. Box 492
Wilton, ME 04294
MA772 William H. & Miriam Martin 24.0000 12,000.00
P. O. Box 620447
Oviedo, FL 32762-0447
MA775 Wood's Fun Center, Inc. PST 20.0000 10,000.00
Paul Woods Trustee
6509 North Lamar Blvd.
Austin, TX 78752
MA77W Jack Maroni IRA 4.0000 2,000.00
36-645 Palomino Lane
Rancho Mirage, CA 92270
MA78B Melvin M. Marquis IRA 24.0000 12,000.00
70234 Kelly Road
Mandeville, LA 70448
MA78C Merle L. Marquis IRA 5.0000 2,500.00
70234 Kelly Road
Mandeville, LA 70448
MA797 George L. & Alice Massey 50.0000 25,000.00
14160 Birmingham Highway
Alpharetta, GA 30201
MA799 Cathy Mastrantuono IRA 4.0000 2,000.00
8100 Cambridge Drive #144
Houston, TX 77054
MA79J Janet M. Masuda IRA 4.0000 2,000.00
17499 Blue Jay Drive
Morgan Hill, CA 95037
MA803 Charlotte A. Mason IRA 16.0000 8,000.00
HC 3 Box 3017-J
Lakehills, TX 78063-9708
MA81D Laszlo Matrai 4.0000 2,000.00
8186 Ambassador Court
San Diego, CA 92126
MA984 James C. Maxey, Sr. 10.0000 5,000.00
1700 Carnelian
Anaheim, CA 92802
MA984 James C. Maxey, Sr. 2.0000 1,000.00
1700 Carnelian
<PAGE>
Anaheim, CA 92802
MA985 Timothy Douglas Maynard M.D. 10.0000 5,000.00
106 Oak Ridge Road
Gatesville, TX 76528
MC160 Kevin M. McAllister 6.0000 3,000.00
8852 Shenandoah Circle NW
Pickerington, OH 43147-9630
MC241 Margie W. & John M. McCollum 10.0000 5,000.00
170 Baker Cross Road
Madison, NC 27025
MC24C James F. McCann IRA 50.0000 25,000.00
7899 JoJoba Circle
Gold Canyon, AZ 85219-3364
MC24J Ed R. McCollom IRA 7.0000 3,500.00
2015 Maple Circle
West Des Moines, IA 50265-4295
MC266 Thomas G. & Wanda L. McDonald 10.0000 5,000.00
Box 85
Summit Point, WV 25446
MC457 Thomas R. McIntire 20.0000 10,000.00
5808 Edgewood Drive
McKinney, TX 75070
MC574 Robert H. McLarn 10.0000 5,000.00
5609 Choctaw Drive
Granbury, TX 76049
MC589 Merle B. McMillen IRA R/O 10.0000 5,000.00
c/o Nancy E. McMillen
1710 Romeria Drive
Austin, TX 78757
MC589 Merle B. McMillen IRA R/O 16.0000 8,000.00
c/o Nancy E. McMillen
1710 Romeria Drive
Austin, TX 78757
MC621 Jeffrey W. McNiece IRA 4.0000 2,000.00
401 Sandy Lane
Deltona, FL 32738
MC737 John J. McPhaul IRA 17.0000 8,500.00
4212 Melissa Lane
Dallas, TX 75229-4111
MC742 James M. McPartlin IRA 5.0000 2,500.00
324 Russell Street
Woburn, MA 01801
MC748 Scott D. McPherson 6.0000 3,000.00
<PAGE>
515 N. Noble #604
Chicago, IL 60622
ME410 Arkesh Mehta IRA 4.0000 2,000.00
4725 Naples Avenue
Beltsville, MD 20705
ME454 Eric A. & Vickie A. Meindl 20.0000 10,000.00
213 N. Beach Blvd.
Waveland, MS 39576
ME466 Paul Meis IRA 51.0000 25,500.00
1228 Idlewilde Heath Drive
Winston-Salem, NC 27106
ME472 Emery & Helen Meineke TTEES 20.0000 10,000.00
of the Emery & Helen Meineke
Trust dtd 4-14-87
118 Dellwood Drive
Longwood, FL 32750
ME578 Harry Melton & Esther Melton 6.0000 3,000.00
Revocable Living Trust
u/a/d 4/19/85
2221 Norwegian Dr., Apt. #61
Clearwater, FL 34623
ME578 Harry Melton & Esther Melton 10.0000 5,000.00
Revocable Living Trust
u/a/d 4/19/85
2221 Norwegian Dr., Apt. #61
Clearwater, FL 34623
ME583 Patricia K. Merlo 14.0000 7,000.00
3011 Hokendauqua Street
Whitehall, PA 18052
ME762 Elizabeth B. Mercado IRA 20.0000 10,000.00
3008 Brownwood
Chattanooga, TN 37404
ME811 Willard A. & Marilyn Metcalf 10.0000 5,000.00
1100 Inglewood Way
Greenville, SC 29615
ME900 M. Rodney Metz IRA 44.0000 22,000.00
3198 Edgewater Drive
Gainesville, GA 30501
ME900 M. Rodney Metz IRA 24.0000 12,000.00
3198 Edgewater Drive
Gainesville, GA 30501
ME967 Denise O. Mewborne 14.0000 7,000.00
1081 Manning Farm Ct.
Dunwoody, GA 30338-2648
MI288 Anthony P. & Patricia Mientek 8.0000 4,000.00
<PAGE>
176 Shallowbrook Lane
Glastonbury, CT 06033
MI577 Harry L. Miller IRA 4.0000 2,000.00
722 E. Main Street
Arlington, KS 67514-9435
MI579 Ronald L. Miller 12.0000 6,000.00
7604 Olcott Avenue
Bakersfield, CA 93308
MI581 Elizabeth & Lawrence Miller 12.0000 6,000.00
5605 Cape Coral Circle
Las Vegas, NV 89130-2095
MI582 Myron C. Miller Trustee 20.0000 10,000.00
Myron C./Mary Irene Miller
Revocable Trust dtd 11/4/85
Bayview Gardens
2855 Gulf to Bay Blvd. #13A
Clearwater, FL 34619
MI583 Myron D. Miller 6.0000 3,000.00
12908 S. Highpoint Road
Partridge, KS 67566
MI587 Linda Stevenson-Millard IRA 4.0000 2,000.00
3110 Douglas Highway
Juneau, AK 99801
MI588 Albert J. Miller IRA 10.0000 5,000.00
Rt. 1 Box 255
Hutchinson, KS 67501
MI589 Maurice J. & M. June Miller 10.0000 5,000.00
605 S. Chicago St.
Dwight, IL 60420-1001
MI58N Paul L. Miller IRA 4.0000 2,000.00
7801 S. Herren Road
Partridge, KS 67566
MI58Y Arno Miller 4.0000 2,000.00
Rt 1 Box 273
Hutchinson, KS 67501
MI606 Donald Ray Miller IRA 50.0000 25,000.00
1907 Northcrest Drive
Waco, TX 76710
MI614 Scott W. & Clare L. Milhous 6.0000 3,000.00
Trustees UTA dated 10/31/88
2621 Gordon Avenue
La Harbra, CA 90631
MI619 Michael A. Mingolelli 8.0000 4,000.00
1101 Worchester Road
<PAGE>
Framingham, MA 01701
MI813 Dianne L. Mitchell Kalina IRA 4.0000 2,000.00
98 Anacapa Drive
Santa Rosa, CA 95403
MI814 Richard H. Mitchell IRA 4.0000 2,000.00
12412 Horado Road
San Diego, CA 92128
MI815 N. R. & Yvonne L. Mitchum 10.0000 5,000.00
Trustees of the Mitch & Yvonne
Trust dtd 7/24/89 as their CP
4743 E. New York
Las Vegas, NV 89104
MI81B Marianne Mitchell IRA 4.0000 2,000.00
816 North O Street Space 57
Lompoc, CA 93436
MI81I Richard H. Mitchell 10.0000 5,000.00
12412 Horado Road
San Diego, CA 92128
MI81J Dianne L. Mitchell Kalina 10.0000 5,000.00
98 Anacapa Drive
Santa Rosa, CA 95403
MO610 Kenneth H. Montgomery IRA 10.0000 5,000.00
2 Moore Road
Wayland, MA 01778
MO63F Gradon A. & Nancy A. Moon 8.0000 4,000.00
Trustees FBO Moon Family Trust
u/a/d 5/3/89
5320 Del Monte Avenue
Las Vegas, NV 89102
MO774 Steven A. & Shirley A. Morrill 6.0000 3,000.00
291 Governor Goodwin Road
North Berwick, ME 03906-9801
MO77B Robert J & Ruth A Morris TTEE 10.0000 5,000.00
Morris Revocable Trust
750 Nolan Avenue
Chula Vista, CA 92010
MO851 Peter V. Moulder IRA 50.0000 25,000.00
2734 St. Charles Avenue
New Orleans, LA 70130
MO866 Randy Jay Mound M.D. 20.0000 10,000.00
1471 Redsail Circle
Westlake
Village, CA 91361-3424
MU279 Richard G & Bonnie J Mueller 10.0000 5,000.00
<PAGE>
TTEES FBO Mueller Revocable TR
#1 established 7/20/85
18771 Pased Picasso
Irvine, CA 92716
MU763 Charles K. & Patricia Murphy 8.0000 4,000.00
48 Parker Rd.
Wellesby, MA 02181
MU76R Jack Murphy IRA 100.0000 50,000.00
The Lazy JM Ranch
Box 80A Rte 1
McDade, TX 78650
MU76Y Julia T. & Walter B. Murphy 3.0000 1,500.00
15 Bobcat Trail
Wildwood, FL 34785
MU76Y Julia T. & Walter B. Murphy 2.0000 1,000.00
15 Bobcat Trail
Wildwood, FL 34785
MU776 Sheldon D. Murphy IRA 6.0000 3,000.00
1904 Stonehaven Dr.
Las Vegas, NV 89108-2035
MU800 Alan Edward Mussell 14.0000 7,000.00
CP 48300, APDO #633
Puerto Vallarta, Jal.
Mexico
MU800 Alan Edward Mussell 39.0000 19,500.00
CP 48300, APDO #633
Puerto Vallarta, Jal.
Mexico
MY171 Michael C. Myrick 6.0000 3,000.00
1046 Colonial Ct.
Holland, MI 49423
NA515 Mathilde M. Najjar 6.0000 3,000.00
717 Georgetown Drive
Nashville, TN 37205
NA809 National Door Supply Co. Inc. 100.0000 50,000.00
Profit Sharing Plan
Bob R. Barnard, Trustee
6310 Airport Fwy
Fort Worth, TX 76117-5322
NE113 First Nat'l Bank, Trust Dept. 26.0000 13,000.00
FBO Dennis Smith for the
Northeast Ga. Orthopedic PSP
a/c# 10-056653339
P. O. Drawer 937
Gainesville, GA 30503
NE115 Edna M. Neal IRA 4.0000 2,000.00
<PAGE>
8445 Royal Oaks Drive
Roseville, CA 95661
NE266 Francis & Patricia Nedoroscik 30.0000 15,000.00
1760 Emerald Drive
New Brighton, MN 55112
NE578 Sandra K. Nelson IRA 4.0000 2,000.00
13629 Stanbridge Ave.
Bellflower, CA 90706
NE57E Gary L. Nelson IRA 4.0000 2,000.00
3021 Wiley Post Avenue
Anchorage, AK 99517
NE855 Karen L. Lannon 20.0000 10,000.00
R.R. 4 Box 85
Pontiac, IL 61764-9160
NE862 The Neumann Family Trust 10.0000 5,000.00
Albert / Margaret Neumann TTEE
1580 Rosita Dr.
Las Vegas, NV 89123
NE956 James Daniel Neville 12.0000 6,000.00
238 Tyrconnell Ave
Massapequa Park, NY 11762
NE961 Katie M. Newton TR 6.0000 3,000.00
Karl L. Newton Custodian
27713 Ann Drive
Columbia Stn, OH 44028
NE962 Kyle B. Newton 6.0000 3,000.00
Karl L. Newton Custodian
27713 Ann Drive
Columbia Stn, OH 44028
NE963 Brent E. Newton TR 6.0000 3,000.00
Karl L. Newton Custodian
27713 Ann Drive
Columbia Stn, OH 44028
NE965 Edwin M. Newton IRA 120.0000 60,000.00
710 Airport Way
Independence, OR 97351
NE967 Earl F. & Frances R. Newland 20.0000 10,000.00
8401 Woodcreek
Waco, TX 76712
NE96I Charles E. Newman IRA 10.0000 5,000.00
7610 Willey Road
Germantown, TN 38138
NI232 Billy Rae Nichols IRA 5.0000 2,500.00
302 Moss Lane
<PAGE>
Franklin, TN 37064
NI236 Frank W. Nicholson IRA 8.0000 4,000.00
2155 Mohawk
Las Vegas, NV 89102
NI246 Donna A. Nickel IRA 12.0000 6,000.00
P. O. Box 2024
Winter Park, FL 32790
NO680 Stephen A. Norris IRA 10.0000 5,000.00
Rt. 2, Box 411
Gatesville, TX 76528
NO773 Janice Noruk IRA 10.0000 5,000.00
906 Dartmouth Place SE
Minneapolis, MN 55414-3158
OA790 Sandra O'Sullivan IRA 4.0000 2,000.00
16 Tennis Village Drive
Dana Point, CA 92629-4135
OE776 Mildred H. Oerther 50.0000 25,000.00
620 St. Marys Avenue
Monroe, MI 48162
OE777 Alden A. Oerther 50.0000 25,000.00
620 St. Marys Avenue
Monroe, MI 48162
OG577 Thomas R. Oglesby 10.0000 5,000.00
3471 S. Utah St.
Arlington, VA 22206
OH592 Gloria L. Ohmer IRA 10.0000 5,000.00
P. O. Box 372
Petersburg, AK 99833
OI801 Robert L. Oisten 6.0000 3,000.00
14664 Anchor Court
Holland, MI 49424-5418
OI803 Jenny M. Oisten IRA 6.0000 3,000.00
14664 Anchor Court
Holland, MI 49424-5418
OR632 Carlos R. Orozco IRA 12.0000 6,000.00
343 W. Houston
San Antonio, TX 78205
OR960 John F. & Nancy S. Orwig Trust 45.0000 22,500.00
dtd 9/12/85, John Orwig, TTEE
1733 Brookside Blvd.
Largo, FL 33770
OR962 Sally Ann Orwig 8.0000 4,000.00
1733 Brookside Boulevard
<PAGE>
Largo, FL 33770
OS605 Alvin A. Osmera IRA 12.0000 6,000.00
3300 Lee Ave. N
Golden Valley, MN 55422-3145
OS813 Frank H. Osterback IRA 20.0000 10,000.00
201 N. Barfield Drive
Marco Island, FL 33937
OS821 Carolyn C. Osterman 20.0000 10,000.00
225 Woodbury Way
Alpharetta, GA 30202
OS850 Joseph A. O'Sullivan IRA 4.0000 2,000.00
16 Tennis Village Drive
Dana Point, CA 92629-4135
OS973 Peter J. Oswald 30.0000 15,000.00
5957 Shepard Hills Ave
Wescosville, PA 18106
OW292 David M. Owen IRA 6.0000 3,000.00
272 Lake Terrace Drive
Henderson, TN 37075
PA452 L. Lynn Paige 6.0000 3,000.00
26 Franklin Avenue
Milton, PA 17847
PA571 Craig J. & Bonnie A. Palardy 6.0000 3,000.00
8455 NW 47th Dr.
Coral Springs, FL 33067
PA575 John R. Palumbo IRA 60.0000 30,000.00
4921 Joaquin Way
Sacramento, CA 95822
PA577 Richard Palumbo 30.0000 15,000.00
3180 Longmeadow
Trenton, MI 48183
PA587 Barbara Palmer Martin 6.0000 3,000.00
2617 Richards Dr.
Waco, TX 76710
PA733 Lloyd E. Pape 10.0000 5,000.00
7927 Braesmeadow
Houston, TX 77071
PA740 Lloyd Pape Architects MPPPL 12.0000 6,000.00
7927 Braes Meadow
Houston, TX 77071
PA741 Lloyd E. Pape IRA 5.0000 2,500.00
7927 Braesmeadow
Houston, TX 77071
<PAGE>
PA742 Betty L. Pape IRA 5.0000 2,500.00
7927 Braesmeadow
Houston, TX 77071
PA763 Barbara H. Partin 50.0000 25,000.00
1908 Old Club Point
Maitland, FL 32751
PA76V Gerrie Parks 20.0000 10,000.00
6401 Driftwood
Midland, TX 79707
PA770 Jullian N. Parra IRA 6.0000 3,000.00
560 Third Street
Inperial Beach, CA 92032
PA81D John H. Patrick IRA 4.0000 2,000.00
3261 Indian Valley Trail
Atlanta, GA 30341
PA81E Margaret S. Patrick IRA 4.0000 2,000.00
3261 Indian Valley Trial
Atlanta, GA 30341
PA883 Stephen C. & Debra K. Paulson 10.0000 5,000.00
4212 Williston Rd.
Minnetonka, MN 55345
PA982 Kathleen J. Payton Trustee 10.0000 5,000.00
FBO Kathleen J. Payton Trust
dtd 8/24/90
100 Hahnmann Trail #307
Pittsford, NY 14534-2353
PE11C Barbara Pearce 6.0000 3,000.00
1825 N. 52nd Street
Seattle, WA 98103-6111
PE176 Alan & Eva Pearson 16.0000 8,000.00
14973 Firestone Cr.
Orlando, FL 32817
PE364 Stuart Peeke 12.0000 6,000.00
Box 1986
Exeter, NH 03833
PE61G John B. & Linda K. Penter TTEE 10.0000 5,000.00
of The John B. Penter and
Linda K. Penter Family Trust
dated 3-22-94
5410 Ranch Gate Road
Alta Loma, CA 91701
PE623 David F. & Nancy J. Penning 6.0000 3,000.00
1103 Woodland Ave.
Newton, IA 50208
<PAGE>
PE766 Jann C. Perkins IRA 4.0000 2,000.00
209 Broxton
Las Vegas, NV 89107
PE76D Hector M. Perches IRA 18.0000 9,000.00
109 East Milam
Wharton, TX 77488
PE790 Vincent Ilario Pesco IRA 8.0000 4,000.00
3678 S. Redwood
Las Vegas, NV 89103
PE791 Elizabeth Ann Pesco IRA 4.0000 2,000.00
3678 S. Redwood St.
Las Vegas, NV 89103
PE81F Anne C. Peters IRA 25.0000 12,500.00
3 Westminster Drive
Colts Necks, NJ 07722-1451
PF441 Marion Pfisterer 18.0000 9,000.00
19406 Spring Valley Drive
Hagerstown, MD 21742
PH166 Rahul C. Phanindra 10.0000 5,000.00
Channagiri Phanindra Custodian
5391 Potomac Drive
Brecksville, OH 44141
PH167 Rajani Phanindra 10.0000 5,000.00
Channagiri Phanindra Custodian
5391 Potomac Drive
Brecksville, OH 44141
PH168 Rashmi Phanindra 10.0000 5,000.00
Channagiri Phanindra Cust
5391 Potomac Drive
Brecksville, OH 44141
PH444 Margaret Mosher Phillips Fndtn 20.0000 10,000.00
Margaret or Jack Rosenlund TTE
7506 Currin Dr.
Dallas, TX 75230
PI339 Peter & Gertrude Piersma 40.0000 20,000.00
16 W. 40th St.
Holland, MI 49423
PI339 Peter & Gertrude Piersma 20.0000 10,000.00
16 W. 40th St.
Holland, MI 49423
PI579 George L. Pilliod Trust 50.0000 25,000.00
George L. Pilliod Trustee
u/a/d 2/20/85
413 Broadway
<PAGE>
Swanton, OH 43558
PI611 Russell M & Alvina M Pinger 6.0000 3,000.00
Pinger Family Trust
dtd 6-15-92
3921 West 24th Avenue
Denver, CO 80212
PI731 H. Howard Pipes IRA 20.0000 10,000.00
115 Abbeywood Drive
Nashville, TN 37215-6145
PI774 Frances M. Reimer Trustee 40.0000 20,000.00
of the Frances M. Reimer Self-
Declaration of Tr dtd 9/15/88
11641 Royal Tee Circle
Cape Coral, FL 33991
PL166 Richard W. Plater, M.D. 100.0000 50,000.00
2020 Venetian Way
Winter Park, FL 32789
PO568 Glenda Pokorny 10.0000 5,000.00
10802 Oasis
Houston, TX 77096
PO590 John J. Pomprowitz IRA 40.0000 20,000.00
4962 Williams Drive
Carmel, IN 46033
PO766 Ruth M. Portell 10.0000 5,000.00
5218 Reeds Road
Mission, KS 66202
PO781 Port Lavaca Clinic Associates 30.0000 15,000.00
Profit Sharing Plan
L. V. Pentecost Trustee
1200 N. Virginia
Port Lavaca, TX 77979
PO782 Port Lavaca Clinic Associates 30.0000 15,000.00
401-K Pension Pln dtd 10-31-84
John W. Griffin, M.D., TTEE
1200 N. Virginia
Port Lavaca, TX 77979
PO783 Port Lavaca Clinic Associates 50.0000 25,000.00
Profit Sharing Plan uad 2/7/72
1200 N. Virginia
Port Lavaca, TX 77979
PO793 Mildred M. Post, Trustee 8.0000 4,000.00
FBO Mildred M. Post Trust
u/a/d 5-16-85
145 Columbia Avenue #254
Holland, MI 49423-2983
PO793 Mildred M. Post, Trustee 10.0000 5,000.00
<PAGE>
FBO Mildred M. Post Trust
u/a/d 5-16-85
145 Columbia Avenue #254
Holland, MI 49423-2983
PO816 Potomac Radiolgy and Imaging 30.0000 15,000.00
Money Purchase Pension
Dr. Steven Mills Trustee
11562 Lilting Lane
Fairfax Station, VA 22039
PO818 Potts Family Partners 4.0000 2,000.00
3680 Quail Ridge Drive N
Boynton Beach, FL 33436
PO964 Frances C. S. Powers 50.0000 25,000.00
6905 Northwood Road
Dallas, TX 75225
PO967 Louis F. Powell 140.0000 70,000.00
202 Bluffview Drive
Largo, FL 34640
PO968 Alton L. Powell III 20.0000 10,000.00
& Betty W. Powell TTEES
706 Rock Beauty Rd.
Fripp Island, SC 29920
PO996 Robert & Violet Pozzuto 10.0000 5,000.00
917 Delaware Avenue
Bethlehem, PA 18015
PR221 Bernard J. Prairie Estate 40.0000 20,000.00
Peter M. Prairie, Executor
276-3B Iven Avenue
St. Davids, PA 19087
PR273 John E. Presley PSP 20.0000 10,000.00
P. O. Box 2065
Palestine, TX 75802
PR284 Harold & Rose Mary Prestenberg 100.0000 50,000.00
c/o Intrepid Enterprises
P. O. Box 1298
Harvey, LA 70059
PR43K Norberto Priu M.D. IRA 20.0000 10,000.00
2333 Brickell Avenue #2204
Miami, FL 33129-2416
PR43K Norberto Priu M.D. IRA 20.0000 10,000.00
2333 Brickell Avenue #2204
Miami, FL 33129-2416
PR43N Charles W. Prieb IRA 12.0000 6,000.00
Rt 2
Inman, KS 67546
<PAGE>
PR43O A. G. Edwards & Sons, Inc. 4.0000 2,000.00
FBO Naomi E. Prieb IRA
a/c#0257-063283/SEC#841999105
P. O. Box 795068
St. Louis, MO 63179-0795
PR445 Charles W. & Naomi E. Prieb 10.0000 5,000.00
Route 2
Inman, KS 67546
PR635 Richard A. Prokopeak 70.0000 35,000.00
18351 Highway 39
Hanna, IN 46340
PR727 Paul & Yolande Provence 20.0000 10,000.00
934 Maywood Court
Arroyo Grande, CA 93420
PR855 John J. Pruss IRA 5.0000 2,500.00
4893 NW Bruno Place
Corvallis, OR 97330-2241
PU242 Herbert E. Puckett IRA 5.0000 2,500.00
6109 Stoney Mountain Road
Burlington, NC 27217-7527
PU245 Patsy Puckett IRA 8.0000 4,000.00
6109 Stoney Mountain Road
Burlington, NC 27217-7527
PU574 Maxwell Pullen IRA 8.0000 4,000.00
1 Ellis Avenue
Athens, OH 45701
PU76C Thomas J. Purgason Trustee 10.0000 5,000.00
FBO Thomas J. Purgason MD PA
Money Purchase Pension Plan
3600 Matlock Road Suite #100
Arlington, TX 76015-3605
QU484 Quixote Press Employees 50.0000 25,000.00
Pension Trust
8620 Banyan Court
Tamarac, FL 33321
RA592 Donald C. Ramp 10.0000 5,000.00
4441 Emerald Drive
Carrollton, TX 75010-4515
RA593 Asha Ramprasad IRA 8.0000 4,000.00
Rt 5 300 Kingsridge
Tullahoma, TN 37388
RA600 Dorothy Germaine Sousa,Trustee 6.0000 3,000.00
u/d/t January 21, 1990
753 Fiddlers Cyn. Drive
<PAGE>
Cedar City, VT 84720
RA779 Tharen L. Rasey 10.0000 5,000.00
33121 Village 33
Camarillo, CA 93012
RA846 Paul W. & Carol A. Ratzlaff 20.0000 10,000.00
14513 E. 82nd
Buhler, KS 67522
RA847 John W. & Elaine Ratzlaff 12.0000 6,000.00
Rural Route 1
Moundridge, KS 67107
RA848 Ratzlaff Brothers Inc. 20.0000 10,000.00
Rural Route 1
Moundridge, KS 67107
RA991 Raymar Mold Inc. PSP 9.0000 4,500.00
Attn: Al Schmid
1927 E. Francis St.
Ontario, CA 91761
RE277 J. Roger Reehl IRA 5.0000 2,500.00
P. O. Box 3014
Brentwood, TN 37024-3014
RE281 Reed Family Partnership 100.0000 50,000.00
19930 Lures Lane
Huntington Bch, CA 92646
RE284 Judith C. Reel 20.0000 10,000.00
4219 Foster Drive
Des Moines, IA 50312
RE393 EMJAYCO 52.0000 26,000.00
FBO Regan Insurance Agency,Inc
401(k) Plan #7776
P. O. Box 17909
Milwaukee, WI 53217
RE437 Jean M. Reisch 20.0000 10,000.00
307 Yona Court
Brevard, NC 28712
RE440 Inez E. Reichard, Trustee 10.0000 5,000.00
u/t/a dated 8/5/92
Inez E. Reichard Trust
2090 Elbow Lane
Allentown, PA 18103
RE456 Veronica Reilly Bailin, Co-TTE 6.0000 3,000.00
Paul A. Reilly Trust
473 W. 21st Street
New York, NY 10011
RE458 Vivian M. Reilly Trust 6.0000 3,000.00
<PAGE>
dated 6/4/87 Patricia Egan
and Veronica Bailin Trustees
101 N. Amelia Avenue #127
Deland, FL 32724
RE614 John R. Rentner 30.0000 15,000.00
5662 Olde Post Road
Sylvania, OH 43560
RE953 Cameron R. Revell 7.0000 3,500.00
6010 Seminole Blvd.
Seminole, FL 34642
RE982 Michael C. Reynolds IRA 4.0000 2,000.00
2501 SW 35th Terrace
Topeka, KS 66611
RE983 Susan D. Reynolds IRA 4.0000 2,000.00
2501 SW 35th Terrace
Topeka, KS 66611
RI392 Ren T. Riggle IRA 12.0000 6,000.00
10202 Myers Way
Seattle, WA 98168
RI630 Norma J. Rios 10.0000 5,000.00
3468 E. Prescott Circle
Cuyahoga Falls, OH 44223-3511
RI995 Lorrie Ann Rizk IRA 5.0000 2,500.00
93 Cayuga Street #2
Seneca Falls, NY 13148-1203
RO203 Leslie Robinson IRA 6.0000 3,000.00
119 Summit Dr.
York, PA 17403
RO21W Linda Smiley Roberts 10.0000 5,000.00
3209 Rolling Knoll Drive
Farmers Branch, TX 75234
RO278 Jane A. Roehrig IRA 6.0000 3,000.00
6035 Spring Creek Lane
Spring, TX 77379-8830
RO27C James S. Roessler IRA 4.0000 2,000.00
1610 Roosevelt Street
Fairbanks, AK 99709
RO574 Darryl & Karen Rolandelli 10.0000 5,000.00
6502 Lytham Court
Greensboro, NC 27410
RO583 Carolyn A. Rolsten 20.0000 10,000.00
3614 Grennoch Lane
Houston, TX 77025
RO592 Duane A. Romberg IRA 4.0000 2,000.00
<PAGE>
P. O. Box 670036
Chugiak, AK 99567-0036
RO668 Royas J. & Mary Ann Rosen 6.0000 3,000.00
1122 Drayton
Webster Groves, MO 63119
RO670 Loretta M. Root IRA 8.0000 4,000.00
1295 Eagle Dr.
Burlington, WA 98233
RO681 Loretta Root & Richard Talbot 20.0000 10,000.00
1295 Eagle Dr.
Burlington, WA 98233
RO750 Tomas Roqueni IRA 4.0000 2,000.00
9076 N. Jessy Lane
Tucson, AZ 85742
RO751 Gloria J. Roqueni IRA 4.0000 2,000.00
9076 N. Jessy Lane
Tucson, AZ 85742
RO799 Mary Martha Roseberry IRA 10.0000 5,000.00
3054 Branch Drive
Clearwater, FL 34620-1740
RO79A Darlene Rossell IRA 6.0000 3,000.00
6140 Racel Street
Las Vegas, NV 89131-1911
RO801 Jane F. Rossitto 6.0000 3,000.00
2218 S. Oakland Way
Aurora, CO 80014
RO803 Margaret or Jack Rosenlund 40.0000 20,000.00
7506 Currin Dr.
Dallas, TX 75230
RO974 Monte H. Rowell 36.0000 18,000.00
9608 Mira Del Rio Dr.
Sacramento, CA 95827
RO995 Ann B. Roznovsky 10.0000 5,000.00
7016 Edmond
Waco, TX 76710
RU226 Renee A. Rubenstein Trust 50.0000 25,000.00
Renee A. Rubenstein, Trustee
9111 Cliffwood
Houston, TX 77096
RU610 Cynthia L. Gilbreth IRA 4.0000 2,000.00
6770 Arville Street
Las Vegas, NV 89118
RY112 Catherine Franklin Ryan IRA 10.0000 5,000.00
<PAGE>
1655 Capital Avenue, #2
Madison, WI 53705-1292
SA212 James F. Sabatinos IRA 5.0000 2,500.00
1 Buchanan
Havelock, NC 28532
SA217 John Carsten Sabee IRA 13.0000 6,500.00
4306 Casanna Way Apt #107
Oceanside, CA 92057-7607
SA59B J. Victor Samuels 20.0000 10,000.00
3555 Timmons Lane, Ste. 1440
Houston, TX 77027
SA816 I. A. Sator, M.D. PSP 15.0000 7,500.00
3816 Brick Church Pike
Nashville, TN 37207
SA817 Selmo Satanosky Trustee 20.0000 10,000.00
under The Selmo Satanosky
Revocable Trust Agreement
dated 4-23-93
15100 Tatenshall Trail
Ft. Lauderdale, FL 33331
SA989 Judith W. Sayre IRA 10.0000 5,000.00
331 Harbin Avenue
Waxahachie, TX 75165
SC193 Janet L. Scanlon 60.0000 30,000.00
629 W. Hacienda Dr.
Corona, CA 91720
SC41L Wilbur D. Schiller, Trustee 100.0000 50,000.00
FBO Wilbur D. & Margaret C.
Schiller Revocable Trust Agmt
dated 4/30/90
891 Cypress Trails Drive
Tarpon Springs, FL 34689
SC421 Rolfe A. & Linda Scheffel 16.0000 8,000.00
1101 North Stanford Ave.
Fullerton, CA 92631
SC423 Howard I. Scher IRA 4.0000 2,000.00
264 Highwood Avenue
Tenafly, NJ 07670
SC424 Lawrence D. Schwimmer 40.0000 20,000.00
2208 Sutter Street #2
San Francisco, CA 94115
SC425 John N.. Schwartz 10.0000 5,000.00
201 Willow Drive
Jasper, TX 75951
SC426 Phyllis Schwartz 10.0000 5,000.00
<PAGE>
9229 Kentucky Oaks Drive
Las Vegas, NV 89117
SC427 John Schwartz Retirement Plan 6.0000 3,000.00
201 Willow Drive
Jasper, TX 75951
SC428 Fonda Glazer Schwartz 100.0000 50,000.00
5200 Keller Springs, #1517
Dallas, TX 75248
SC430 Judith A. Schreier 6.0000 3,000.00
15 Indian Trail
South
Windsor, CT 06074
SC879 Fonda Glazer Schwartz Trust 50.0000 25,000.00
Fonda Glazer Schwartz, Trustee
Trust Dtd 05/09/87
5200 Keller Springs, #1517
Dallas, TX 75248
SE276 Arthur & Margaret Seeger and 20.0000 10,000.00
James H. Hens Trustees under
Revocable Trust Agreement
dated 9-19-94
5991 McKinley Parkway
Hamburg, NY 14075
SE576 John G. Or Sharon S. Sellers 10.0000 5,000.00
1514 Burning Tree Lane
Brandon, FL 33511
SH118 Randy Dale Shamblen 6.0000 3,000.00
5 Curtis Road
Saunderstown, RI 02874
SH163 Rajnikant & Hina Shah 6.0000 3,000.00
26 Hummingbird Lane
Beckley, WV 25801
SH164 Harivadan & Nila Shah 6.0000 3,000.00
2813 Amesbury Drive
Plano, TX 75093
SH283 Walter M. & Virginia Shephard 20.0000 10,000.00
224 Glenwood Ave.
Stratford, CT 06497
SH43K James J. Shields IRA 6.0000 3,000.00
6994 Lodden Cove
Memphis, TN 38119
SH444 Pamela J. Shilling IRA 10.0000 5,000.00
3430 Ridgewood Road
Willits, CA 95490
SH484 Estate of Gregory J. Shipley 16.0000 8,000.00
<PAGE>
First Tennessee Bank
attn: Trust Securities
165 Madison Avenue - 7th Floor
Memphis, TN 38103
SH489 Norman D. Shirley SEP 4.0000 2,000.00
2625 Alpine Trail
Marietta, GA 30062
SI272 Richard A. & Greta A. Sieg 40.0000 20,000.00
2575 E. Bay Street
Port Angeles, WA 98362
SI426 Gerhard G. Sihler 40.0000 20,000.00
48 Doral Farm Rd.
Stamford, CT 06902
SI574 Jeff A. Silbar MPPP 10.0000 5,000.00
3964 Sunswept Drive
Studio City, CA 91604
SI599 Mary Simko 30.0000 15,000.00
451 Concord
San Antonio, TX 78201
SI59M Alice Simms 6.0000 3,000.00
10 Burr Court
Southington, CT 06489
SI607 James C. Sims IRA 4.0000 2,000.00
Box 173
Running Springs, CA 92382
SI623 S. Jonathan & Ruth E. Singer 20.0000 10,000.00
2702 Bordeaux
La Jolla, CA 92037
SI806 Sisters of the Holy Faith Inc. 60.0000 30,000.00
Attention: Sr. Miriam Harney
12322 Paramount Boulevard
Downey, CA 90242
SK179 Donald R. Skaggs IRA 10.0000 5,000.00
515 Sandy Way
Arroyo Grande, CA 93420
SK661 James F. & Ann E. Skory 10.0000 5,000.00
4104 14th Avenue East
Bradenton, FL 34208-9015
SK899 Joseph M. & Mary Ann Skutches 80.0000 40,000.00
475 Wedgewood Rd.
Bethlehem, PA 18017
SL285 Edward or Ruth Slenk 8.0000 4,000.00
162 West 34th Street
Holland, MI 49423
<PAGE>
SL682 Peter P. Sloss 80.0000 40,000.00
555 Glenwood Avenue Apt. A210
Menlo Park, CA 94025-3165
SM440 John Smith 6.0000 3,000.00
305 Porpoise Point Drive
St. Augustine, FL 32095-2957
SM456 Douglas L. Smith IRA 4.0000 2,000.00
2909 Kirkcaldy Lane
Birmingham, AL 35243
SM472 Cameron Smith PSP 14.0000 7,000.00
1015 Paladin Ct.
Orlando, FL 32806
SM475 Seymour & Leila R. Smith TTEES 6.0000 3,000.00
of the Smith Trust dtd 5/30/91
30711 Ganado Drive
Palos Verdes, CA 90274
SM477 Edward C. & Shirley A. Smith 40.0000 20,000.00
1126 Saunders
Memphis, TN 38127
SM478 David R. Smith IRA 5.0000 2,500.00
P. O. Box 442
Ravendale, WA 98051
SM479 F. Loretta Smith IRA 14.0000 7,000.00
2710 S. 276th Place
Federal Way, WA 98003
SN443 Virgel E. & Sue Snider 6.0000 3,000.00
2676 S. El Camino Rd.
Las Vegas, NV 89102
SN448 David C. Snitselaar 10.0000 5,000.00
1708 3rd Avenue SE
Cedar Rapids, IA 52403-2310
SN992 Wilbur M. & Goldie M. Snyder 10.0000 5,000.00
RD #1
Watsontown, PA 17777
SO576 Marvin & Dolores M. Soll 12.0000 6,000.00
2297 Del Campo Blvd.
San Luis Obispo, CA 93401-4507
SO581 John Sole IRA 5.0000 2,500.00
7394 Whitland Lane
Athens, OH 45701-9600
SO850 SW Royalties: Limited Partner 30.0000 15,000.00
P. O. Box 11390
Midland, TX 79702
<PAGE>
SO850 SW Royalties: Limited Partner 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 18.0000 9,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 40.0000 20,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 7.0000 3,500.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
<PAGE>
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 16.0000 8,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 50.0000 25,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 5.0000 2,500.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 5.0000 2,500.00
P. O. Box 11390
<PAGE>
Midland, TX 79702
SO850 SW Royalties: Limited Partner 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 100.0000 50,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 3.0000 1,500.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 5.0000 2,500.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 100.0000 50,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 18.0000 9,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 3.0000 1,500.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
<PAGE>
SO850 SW Royalties: Limited Partner 46.0000 23,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 30.0000 15,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 25.0000 12,500.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 30.0000 15,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 200.0000 100,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 30.0000 15,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 30.0000 15,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 70.0000 35,000.00
<PAGE>
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 50.0000 25,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 5.0000 2,500.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 5.0000 2,500.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 8.0000 4,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 32.0000 16,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 5.0000 2,500.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 5.0000 2,500.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 100.0000 50,000.00
P. O. Box 11390
<PAGE>
Midland, TX 79702
SO850 SW Royalties: Limited Partner 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 250.0000 125,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 44.0000 22,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 14.0000 7,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 50.0000 25,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
<PAGE>
SO850 SW Royalties: Limited Partner 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 13.0000 6,500.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 15.0000 7,500.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 5.0000 2,500.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 5.0000 2,500.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 14.0000 7,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 15.0000 7,500.00
P. O. Box 11390
Midland, TX 79702
SO850 SW Royalties: Limited Partner 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO857 Jean Soussan IRA 12.0000 6,000.00
5433 Westheimer Ste 1105
Houston, TX 77056
SO900 SW Royalties:Limited PartnerII 100.0000 50,000.00
P. O. Box 11390
Midland, TX 79702
SO900 SW Royalties:Limited PartnerII 10.0000 5,000.00
<PAGE>
P. O. Box 11390
Midland, TX 79702
SO900 SW Royalties:Limited PartnerII 30.0000 15,000.00
P. O. Box 11390
Midland, TX 79702
SO900 SW Royalties:Limited PartnerII 30.0000 15,000.00
P. O. Box 11390
Midland, TX 79702
SO900 SW Royalties:Limited PartnerII 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO900 SW Royalties:Limited PartnerII 6.0000 3,000.00
P. O. Box 11390
Midland, TX 79702
SO900 SW Royalties:Limited PartnerII 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO900 SW Royalties:Limited PartnerII 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO900 SW Royalties:Limited PartnerII 20.0000 10,000.00
P. O. Box 11390
Midland, TX 79702
SO900 SW Royalties:Limited PartnerII 4.0000 2,000.00
P. O. Box 11390
Midland, TX 79702
SO900 SW Royalties:Limited PartnerII 60.0000 30,000.00
P. O. Box 11390
Midland, TX 79702
SO900 SW Royalties:Limited PartnerII 50.0000 25,000.00
P. O. Box 11390
Midland, TX 79702
SO900 SW Royalties:Limited PartnerII 10.0000 5,000.00
P. O. Box 11390
Midland, TX 79702
SO900 SW Royalties:Limited PartnerII 14.0000 7,000.00
P. O. Box 11390
Midland, TX 79702
SO900 SW Royalties:Limited PartnerII 8.0000 4,000.00
P. O. Box 11390
Midland, TX 79702
SO902 Jean Soussan 20.0000 10,000.00
5433 Westheimer Ste 1105
<PAGE>
Houston, TX 77056
SP114 Mary Frances Sparkman 10.0000 5,000.00
2144 Gorham Place
Germantown, TN 38138
SP199 Robert & Wilma Spaugy 10.0000 5,000.00
4535 E. 8th Avenue
Anchorage, AK 99508
SP480 Morris & Helga I. Spizman 10.0000 5,000.00
5006 McCloskey Court
Santa Rosa, CA 95409
SQ852 Thurston W. & Shirley Squires 100.0000 50,000.00
2924 Marathon Ave.
Orlando, FL 32805
SR630 Cushla M. Srour IRA 5.0000 2,500.00
R.D. #8 Box 14-A
York, PA 17403
SR631 James W. Srour IRA 5.0000 2,500.00
R.D. #8 Box 14-A
York, PA 17403
ST124 Edmund W. Stahl IRA 20.0000 10,000.00
4338 Acacia Avenue
Bonita, CA 92024
ST12A Joseph D. Staley IRA 4.0000 2,000.00
6144 Thornbury Court S.E.
Lacey, WA 98513
ST169 John Stack 20.0000 10,000.00
c/o Ed Cooley
1450 State Road 434 W #200
Longwood, FL 32750-3848
ST175 Edmund W. & Gloria M. Stahl 20.0000 10,000.00
Trustees UTD 8/24/88
4338 Acacia Ave.
Bonita, CA 92002
ST176 David R. Stager MD IRA 100.0000 50,000.00
8201 Preston Road # 140A LB230
Dallas, TX 75225
ST183 Jacquelyn Stallman 10.0000 5,000.00
P. O. Box 543
Kirkland, WA 98083-0543
ST268 Laurie K. Steen IRA 4.0000 2,000.00
4417 E. Mountain View
Phoenix, AZ 85028
ST276 Marguerite Steedman IRA 10.0000 5,000.00
<PAGE>
4204-146th Street NW
Gig Harbor, WA 98332
ST27U Wilmer Stevenson IRA 30.0000 15,000.00
#3 Overbrook Court
Wimberly, TX 78676-2702
ST281 Eleanor C. Stevens 40.0000 20,000.00
Revocable Trust
3609 Grayton Drive
New Port Richey, FL 34652
ST293 Rebekah G. Stewart, Custodian 15.0000 7,500.00
FBO Sarah Grace Stewart
UTMA AR21
1306 NW 9th
Bentonville, AR 72712
ST353 Donald Ray Stevens IRA 4.0000 2,000.00
1040 Hedge Lane
Marietta, GA 30066-5552
ST360 Anne J. Stewart 300.0000 150,000.00
c/o U.S. Trust Co. of Texas NA
Attention: Brad Carson
2001 Ross Avenue, Suite 2700
Dallas, TX 75201
ST656 Jere G. Stocksdale 20.0000 10,000.00
2500 Lee Road #109
Winter Park, FL 32789-1703
ST686 Judith A. Stonehill 40.0000 20,000.00
730 Mendon Ionia Road
Honeoye Falls, NY 14472
ST757 Victor & Margaret Strand 30.0000 15,000.00
5351 Brokenhill Ct.
Yorba Linda, CA 92686
ST769 Heidi Strickland IRA 5.0000 2,500.00
2101 Cottonwood
Grand Prairie, TX 75050
ST76A Russell C. Striffler IRA 18.0000 9,000.00
265 Dave Creek Parkway #109
Fairfield Bay, AR 72088-4010
ST76O Rodney Strachan TTEE 16.0000 8,000.00
FBO Rodney Strachan M.D., Inc.
Retirement Trust
11632 Ranch Hill
Santa Ana, CA 92705
ST775 David P. Street MPP 4.0000 2,000.00
2442 N.W. Market St. #202
Seattle, WA 98107
<PAGE>
ST776 Russell C. & June R. Striffler 20.0000 10,000.00
265 Dave Creek Parkway #109
Fairfield Bay, AR 72088-4010
ST786 Leslie H. Strong IRA 4.0000 2,000.00
1120 E. Las Tunas Drive #H
San Gabriel, CA 91776-1739
ST981 James W. Styler IRA 20.0000 10,000.00
18911 Talarik Drive
Eagle River, AK 99577
SU548 Barbara A. Sukkel 18.0000 9,000.00
3421 Wexford Lane
Las Vegas, NV 89129
SU582 Kathleen A. Sullivan 60.0000 30,000.00
9250 Riveredge Drive
Cordova, TN 38018
SU815 Nancy C. Sutherlin Trustee 10.0000 5,000.00
of the Nancy C. Sutherlin
Trust UA dated 1-28-94
69 Myrtle Road
Woodstock, GA 30189-1447
SW169 William E. & Pauline Swan 10.0000 5,000.00
1419 Porto Bello Ct.
Arlington, TX 76012
SW207 Ronald R. & Dawn D. Swartz 10.0000 5,000.00
18045 Jorene Road
Odessa, FL 33556
SW273 Eugene F. Sweeny IRA 10.0000 5,000.00
4450 NW 24 TERR
Boca Raton, FL 33431
SW299 George R. Swetland and his 18.0000 9,000.00
successors in trust, Trustee
George R. Swetland Trust
udt 7/20/88
4983 W. Olympic Avenue
Banning, CA 92220
SZ177 Gyula Szalay 6.0000 3,000.00
7821 Linda Vista Road #19
San Diego, CA 92111
TA386 Edward P. Taft IRA 10.0000 5,000.00
9 Berkeley Rd.
Wellesley, MA 02181
TA577 Richard B. Talbot IRA 15.0000 7,500.00
1295 Eagle Dr.
Burlington, WA 98233
<PAGE>
TA984 Joseph S. Deitch 30.0000 15,000.00
Tax Advantaged Partners IV
One University Office Park
29 Sawyer Road
Waltham, MA 02154-3423
TA993 Larry J. Taylor 10.0000 5,000.00
1090 Hardeman Mill Road
Madison, GA 30650
TA994 Donald R. & Elizabeth Taylor 10.0000 5,000.00
854 Greenbriar Ave.
Simi Valley, CA 93065
TE379 Richard M. Tefft IRA 4.0000 2,000.00
19640 E. Charline PL
Rowland Heights, CA 91748
TE807 Marvin & Rhoda Tessler 10.0000 5,000.00
323 Christopher Street
Oceanside, NY 11572
TH186 B. David Thames IRA 5.0000 2,500.00
408 N. Person Street
Raleigh, NC 27601
TH187 June C. Thames IRA 5.0000 2,500.00
408 N. Person St.
Raleigh, NC 27601
TH188 B. David & June C. Thames 20.0000 10,000.00
408 N. Person Street
Raleigh, NC 27601
TH63W James M. Thorne IRA 8.0000 4,000.00
713 Chopin Drive
Sunnyvale, CA 94086
TH64B Thomas Thompson IRA 9.0000 4,500.00
2066 Westover Plantaton
Dunwoody, GA 30338
TH676 Rena M. Thomison 10.0000 5,000.00
204 Hillwood Blvd
Nashville, TN 37205
TH762 Pamela J. Threadgill IRA 6.0000 3,000.00
2827 Kenway Road
Nashville, TN 37215-1903
TH877 William E. Thunberg IRA 5.0000 2,500.00
169 Royal Coach Lane
Mooresville, NC 28115
TI250 Tidewater Psychotherapy Serv. 16.0000 8,000.00
Attn: Edward R. Nichols
<PAGE>
256 N. Witchduck Road, Ste. G
Virginia Beach, VA 23462
TI578 Mrs. Juanita M. Tiller 50.0000 25,000.00
5906 Glen Heather
Dallas, TX 75252
TI836 Nancy B. Titone 20.0000 10,000.00
4 Granite Road, Alapocas
Wilmington, DE 19803
TO579 Gary M. & Jacqueline Tolin 10.0000 5,000.00
International School of Yangon
Dept of State/Rangoon, Burma
Washington, DC 20520-4250
TO579 Gary M. & Jacqueline Tolin 8.0000 4,000.00
International School of Yangon
Dept of State/Rangoon, Burma
Washington, DC 20520-4250
TO649 Shirley S. Mullen 80.0000 40,000.00
Revocable Living Trust
3314 Haviland Ct. #102
Palm Harbor, FL 34684-1874
TO746 Margaret Topping IRA 5.0000 2,500.00
178 Longview Heights
Athens, OH 45701
TO747 Margaret Topping Financial 6.0000 3,000.00
507 Richland Ave., Suite 107
P. O. Box 1080
Athens, OH 45701-1080
TO892 Roy A. Toups IRA 18.0000 9,000.00
500 Yetta St.
Harvey, LA 70058
TO974 Bobye W. Townsend IRA 4.0000 2,000.00
200 St. Andrews Blvd #3202
Winter Park, FL 32792
TO981 Elva C. Toups IRA 21.0000 10,500.00
500 Yetta Steet
Harvey, LA 70058
TO987 Bette J. Tozer IRA 100.0000 50,000.00
901 Kings Road
Newport Beach, CA 92663
TR283 Gay A. Treadwell 20.0000 10,000.00
1816 Lorean
Enid, OK 73703
TR438 Doris P. Triplett IRA 10.0000 5,000.00
548 N. Main Street #110
<PAGE>
Ashland, OR 97520
TR456 Trim-Lok, Inc. 40.0000 20,000.00
P. O. Box 6180
6855 Hermosa Circle
Buena Park, CA 90622-6180
TR669 Kathryn C. Trost 40.0000 20,000.00
20 Fairway West
Colts Neck, NJ 07722
TU224 Leonard/Juliet/David Tubergen 12.0000 6,000.00
173 Grandview Avenue
Holland, MI 49423
TU766 Rebecca G. Tucker 20.0000 10,000.00
4645 Thoroughgood Drive
Virginia Beach, VA 23455
TU76J Martha A. Turnage IRA 5.0000 2,500.00
3800 Treyburn Drive #B122
Williamsburg, VA 23185-2878
TU791 Michael B. Tusa IRA 4.0000 2,000.00
2008 Edenborn Ave.
Metaire, LA 70001
UR226 Martin & Mary Urbas 10.0000 5,000.00
343 Grist Mill Drive
Basking Ridge, NJ 07920
VA617 Robert Tate & Wandahlea Vance 6.0000 3,000.00
421 Villa Drive #116
Waco, TX 76710
VA61K Margaret C. Vandiver 4.0000 2,000.00
317-4 S. Shoreline Drive
Liberty Lake, WA 99019
VA621 Sandra Van Velsor IRA 17.0000 8,500.00
4793 Winchester
Memphis, TN 38118
VA627 John B. Van Why II 6.0000 3,000.00
608 33rd Street
West Des Moines, IA 50265
VA853 John W. Vaughn IRA 20.0000 10,000.00
1005 Lakeview Drive
Hermitage, TN 37076
VA934 P. Bryon Vaughn M.D. 6.0000 3,000.00
107 Sandy Oaks
Boerne, TX 78006
VI231 Helen L. Vick 6.0000 3,000.00
4516 Braeburn Dr.
<PAGE>
Bellaire, TX 77401
VI233 Victoria Women's Clinic 100.0000 50,000.00
605 E. San Antonio, Ste. 310 E
Victoria, TX 77901
VI586 Donald J. Villere IRA 4.0000 2,000.00
584 Park Avenue
Manderville, LA 70448
VI810 Irene C. Vitiello and David 30.0000 15,000.00
Vitiello I.C.V. and Successor
Trustees of I. Vitiello
Nominee Trust dated 4-20-89
32 Spring Street
Somerville, MA 02143
VO213 Dr. Arnold Vobach 20.0000 10,000.00
11114 Ashcroft
Houston, TX 77096
VO432 Wendelin J. Voigt IRA 5.0000 2,500.00
21920 S.R. 530 N.E.
Arlington, WA 98223
WA266 Charles M. Waddell 6.0000 3,000.00
2601 May Dr.
Burlington, NC 27215
WA273 Leroy E. & Velda M. Waddington 10.0000 5,000.00
4503 SE 4th Place
Renton, WA 98056
WA399 Craig Wagoner IRA 5.0000 2,500.00
18 Barrett Place
Greensboro, NC 27410
WA531 Brooks Waldman 10.0000 5,000.00
340 Bellaire
Denver, CO 80220
WA572 William J. Wall 40.0000 20,000.00
15 Cedar St.
Riverdale, NJ 07457
WA57B M. Ellsworth Walker IRA 40.0000 20,000.00
3524 Grand Avenue
Des Moines, IA 50312
WA762 Alfred B. & Louise A. Warren 80.0000 40,000.00
1908 SW Woodside Pl
Palm City, FL 34990
WA76P David Warshawsky IRA 4.0000 2,000.00
1506 Berwick Road
Baltimore, MD 21204
WA76S Gaylee P. Warner IRA 4.0000 2,000.00
<PAGE>
E 9603 1390th Street
New Auburn, WI 54757
WA783 Russell J. or Michele Warren 6.0000 3,000.00
252 Leisure Lane
Holland, MI 49424
WA816 John T. Watson Trust 4.0000 2,000.00
u/t/d 12/9/85
418 Silverado Trail
Waukee, IA 50263
WA81U Robert B. Watson IRA 10.0000 5,000.00
803 Belmont
Athens, TX 75751
WE116 Janet Weakman Trustee 16.0000 8,000.00
under Weakman Trust
13223 N. 2760 E. Road
Forrest, IL 61741
WE119 Allen B. Weaver IRA 6.0000 3,000.00
15753 Balmoral Court
Strongsville, OH 44136
WE140 Robert P. & Gail S. Weaver 10.0000 5,000.00
and their successors, as
Trustees of the Weaver Family
Trust dtd July 3, 1989
Rt. 2 Box 800
Blanchard, ID 83804
WE211 William J. Webb Jr. 20.0000 10,000.00
4021 County Line Road
Carson City, NV 89703
WE226 Celia R. Webb 24.0000 12,000.00
4109 Legend Hall Dr.
Nashville, TN 37215
WE256 Capt. Thomas & Joan Wedgewood 20.0000 10,000.00
3628 Carter Rd.
Portsmouth, VA 23703
WE43X Ann Dickerson Weiss IRA 6.0000 3,000.00
4151 E. Northhampton Place
Houston, TX 77098
WE571 John D. Welsh IRA 8.0000 4,000.00
5375 Gamblewood Road NE
Kingston, WA 98346-9511
WE57F Mary Wellman 1.0000 500.00
506 Arbutus Drive East
Roanoke Rapids, NC 27870
WE57F Mary Wellman 3.0000 1,500.00
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506 Arbutus Drive East
Roanoke Rapids, NC 27870
WE57P Terry P. Welsh IRA 5.0000 2,500.00
P. O. Box 6261
Ketchikan, AK 99901
WE61B Bruce K. Wentworth IRA 5.0000 2,500.00
8266 Rock Riffle Road
Athens, OH 45701-7656
WE788 H. Kenneth West IRA 6.0000 3,000.00
2417 Willow Springs Court
Apopka, FL 32712-2585
WH432 E. L. Whitting Sr. Trust 10.0000 5,000.00
u/a/d 8/31/89
Edward & Arlene Whitting TTEES
13181 Lampson Avenue #503
Garden Grove, CA 92840
WH437 James W. White 20.0000 10,000.00
4745 N. Hampton Drive
Jackson, MS 39211
WH462 Jonathan Henry Whitehouse 10.0000 5,000.00
Susan E. Whitehouse Custodian
105 Alameda Circle
Victoria, TX 77904
WI279 Albert A. Wiegand IRA 4.0000 2,000.00
209 Broxton
Las Vegas, NV 89107
WI404 Stephen & Cheri Wiggins 10.0000 5,000.00
1900 Park Valley Dr.
Columbus, IN 47203
WI572 Garrett J. Williamson IRA 20.0000 10,000.00
8281 Juanita Dr.
Olive Branch, MS 38654
WI580 James W. Williams IRA 16.0000 8,000.00
9260 Winding Oak Dr.
Fair Oaks, CA 95628
WI584 Darren L. & Barbara Williams 20.0000 10,000.00
90 Sequoyah Drive
Chatsworth, GA 30705
WI586 Alan Williamson 9.0000 4,500.00
5926 Matt Road
Humble, TX 77346
WI587 Richard S. Wilkenfeld, M.D. 20.0000 10,000.00
TTEE Richard S. Wilkenfeld MD
P. A. Pension Plan
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800 Riverwood Court, Suite 102
Conroe, TX 77304
WI618 Eileen C. Winchell IRA 4.0000 2,000.00
4441 NW 8th Street
Coconut Creek, FL 33066
WI61A Larry G. Winchell IRA 4.0000 2,000.00
4441 NW 8th Street
Coconut Creek, FL 33066
WI61C Clifford M. Winter IRA 20.0000 10,000.00
2439 S. Krameria St.
Denver, CO 80222
WI81A Gene Witiak IRA 20.0000 10,000.00
4313 Kathi Drive
Bethlehem, PA 18017
WO573 Dennis P. Wolf IRA 10.0000 5,000.00
1009 W. Tam O'Shanter
Kansas City, KS 64145
WO578 Charles F. & Darryl A. Wolcott 10.0000 5,000.00
Co Trustees u/d/t dtd 8/16/90
FBO The Wolcott Family Trust
2659 Samantha Court
Simi Valley, CA 93063
WO635 Patricia Clesi Wood 6.0000 3,000.00
311 Bella Drive
Metairie, LA 70005
WO63D Betty J. Woods IRA 10.0000 5,000.00
2917 West Lake Cove
Austin, TX 78746
WO63E Paul H. Woods IRA 10.0000 5,000.00
2917 West Lake Cove
Austin, TX 78746
WO646 Corrine E. Wood 10.0000 5,000.00
463 Glendale Drive
Metairie, LA 70001
WO762 Word Communication Systems 10.0000 5,000.00
Profit Sharing Plan
P. O. Box 308
Ellington, CT 06029
WR435 Jerrell A. Wright IRA 10.0000 5,000.00
1100 Phillips Road
Anderson, SC 29625
WR439 Lorraine C. Klinger 6.0000 3,000.00
27 Brookcrest Drive N.E.
Marietta, GA 30068
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YA183 Ralph & Raffaella Yates 30.0000 15,000.00
989 Oriole Dr.
Laguna Beach, CA 92651
YE810 Elizabeth A. Yetter Revocable 20.0000 10,000.00
Trust u/a/d 6/28/95
1022 Near Ocean Drive
Vero Beach, FL 32962
YO922 Charles H. Young 5.0000 2,500.00
800 Elkhorn Path
Irving, TX 75063
YU246 Paul E. Yucius IRA 9.0000 4,500.00
674 Jamestown Blvd. #1329
Altamonte Spgs, FL 32714-4650
ZA241 Josephine Zack 30.0000 15,000.00
6021 N.W. 61st Avenue Apt 208
Tamarac, FL 33319
ZE763 Bernice D. Zermuehlen IRA 4.0000 2,000.00
7601 Weld County Road #21
Ft. Lupton, CO 80621
ZE763 Bernice D. Zermuehlen IRA 4.0000 2,000.00
7601 Weld County Road #21
Ft. Lupton, CO 80621
ZI606 Paul H. Zimmerman 20.0000 10,000.00
3732 Tiger Eye Court
Mulberry, FL 33860
1051 Total Investors 20,000.0000 10,000,000.00
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