<PAGE> PAGE 1
000 A000000 06/30/96
000 C000000 0000803020
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 THE OBERWEIS FUNDS
001 B000000 811-4854
001 C000000 8003236166
002 A000000 951 ICE CREAM DRIVE, SUITE 200
002 B000000 NORTH AURORA
002 C000000 IL
002 D010000 60542
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C020100 OBERWEIS EMERGING GROWTH PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 OBERWEIS MICRO-CAP PORTFOLIO
007 C030200 N
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 OBERWEIS ASSET MANAGEMENT, INC.
008 B00AA01 A
008 C00AA01 801-35657
008 D01AA01 NORTH AURORA
008 D02AA01 IL
008 D03AA01 60542
011 A00AA01 THE CHICAGO CORPORATION
011 B00AA01 8-01-10037
011 C01AA01 CHICAGO
011 C02AA01 IL
011 C03AA01 60604
011 C04AA01 1003
012 A00AA01 INVESTORS FIDUCIARY TRUST COMPANY
012 B00AA01 85-00535
012 C01AA01 KANSAS CITY
<PAGE> PAGE 2
012 C02AA01 MO
012 C03AA01 64105
013 A00AA01 ERNST & YOUNG
013 B01AA01 CHICAGO
013 B02AA01 IL
013 B03AA01 60606
013 B04AA01 6301
014 A00AA01 THE CHICAGO CORPORATION
014 B00AA01 8-01-10037
015 A00AA01 STATE STREET BANK & TRUST COMPANY
015 B00AA01 S
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02101
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 2
019 C00AA00 OBERWEISFD
020 A000001 HAMBRECHT & QUIST
020 B000001 94-2856935
020 C000001 34
020 A000002 THE CHICAGO CORPORATION
020 B000002 36-2549961
020 C000002 13
020 A000003 SMITH BARNEY
020 B000003 13-1912900
020 C000003 7
020 A000004 WILLIAM O'NEIL & CO, INC.
020 B000004 36-4039857
020 C000004 6
020 A000005 ROBERT W. BAIRD & CO.
020 B000005 39-6037917
020 C000005 5
020 A000006 JEFFRIES & CO., INC.
020 B000006 95-2622900
020 C000006 2
020 A000007 GOLDMAN SACHS & CO.
020 B000007 74-9124004
020 C000007 1
020 A000008 DONALDSON, LUFKIN & JENRETTE
020 B000008 13-2741729
020 C000008 1
020 C000009 0
020 C000010 0
021 000000 69
022 A000001 CIGNA CORP.
022 B000001 06-1059331
022 C000001 166183
022 D000001 0
022 A000002 AMERICAN EXPRESS CREDIT CORP
<PAGE> PAGE 3
022 B000002 11-1988350
022 C000002 122114
022 D000002 0
022 A000003 FORD MOTOR CREDIT CORP
022 B000003 38-1612444
022 C000003 78203
022 D000003 0
022 A000004 HELLER FINANCIAL
022 B000004 36-1208070
022 C000004 69878
022 D000004 0
022 A000005 GENERAL ELECTRIC CAPITAL CORP.
022 B000005 13-1500700
022 C000005 35319
022 D000005 0
022 A000006 SHERWOOD SECURITIES
022 B000006 13-2616318
022 C000006 30482
022 D000006 13663
022 A000007 PAINE WEBBER
022 B000007 13-2638166
022 C000007 27967
022 D000007 298
022 A000008 GENRAL MOTOR ACCEPTANCE
022 B000008 38-0572512
022 C000008 22332
022 D000008 0
022 A000009 ASSOCIATED CORP OF NORTH AMERICA
022 B000009 74-1494554
022 C000009 12153
022 D000009 0
022 A000010 MONTGOMERY SECURITIES
022 B000010 94-1701676
022 C000010 12125
022 D000010 1811
023 C000000 701691
023 D000000 42872
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
<PAGE> PAGE 4
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
055 A00AA00 Y
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
<PAGE> PAGE 5
077 O000000 Y
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00 750
081 A00AA00 Y
081 B00AA00 2
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
028 A010100 3254
028 A020100 0
028 A030100 0
028 A040100 4730
028 B010100 3992
028 B020100 0
028 B030100 0
028 B040100 5088
028 C010100 11669
028 C020100 0
028 C030100 0
028 C040100 4438
028 D010100 43709
028 D020100 0
028 D030100 0
028 D040100 7451
028 E010100 51358
028 E020100 0
028 E030100 0
028 E040100 16404
028 F010100 17335
<PAGE> PAGE 6
028 F020100 0
028 F030100 0
028 F040100 46658
028 G010100 131317
028 G020100 0
028 G030100 0
028 G040100 84769
028 H000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 Y
041 000100 Y
042 A000100 0
042 B000100 0
042 C000100 100
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 218
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 50000
048 A020100 0.450
048 B010100 0
048 B020100 0.400
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
049 000100 N
050 000100 N
<PAGE> PAGE 7
051 000100 N
052 000100 Y
053 A000100 N
062 A000100 N
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 0
063 B000100 0.0
066 A000100 Y
066 B000100 Y
066 C000100 N
066 D000100 N
066 E000100 N
066 F000100 N
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
071 A000100 94386
071 B000100 49950
071 C000100 165071
071 D000100 30
072 A000100 6
072 B000100 628
072 C000100 30
072 D000100 0
072 E000100 0
072 F000100 362
072 G000100 349
072 H000100 0
072 I000100 116
072 J000100 74
072 K000100 0
072 L000100 31
072 M000100 5
<PAGE> PAGE 8
072 N000100 12
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 19
072 S000100 34
072 T000100 218
072 U000100 0
072 V000100 0
072 W000100 10
072 X000100 1230
072 Y000100 0
072 Z000100 -572
072AA000100 9249
072BB000100 0
072CC010100 17562
072CC020100 0
072DD010100 0
072DD020100 0
072EE000100 0
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 0
074 C000100 4792
074 D000100 6206
074 E000100 0
074 F000100 200802
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 2398
074 K000100 0
074 L000100 1555
074 M000100 26
074 N000100 215779
074 O000100 2754
074 P000100 204
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 1476
074 R040100 3895
074 S000100 0
074 T000100 207450
074 U010100 5884
074 U020100 0
074 V010100 35.26
074 V020100 0.00
<PAGE> PAGE 9
074 W000100 0.0000
074 X000100 8907
074 Y000100 0
075 A000100 0
075 B000100 175473
076 000100 0.00
028 A010200 6316
028 A020200 0
028 A030200 0
028 A040200 55
028 B010200 2179
028 B020200 0
028 B030200 0
028 B040200 18
028 C010200 3737
028 C020200 0
028 C030200 0
028 C040200 284
028 D010200 14057
028 D020200 0
028 D030200 0
028 D040200 810
028 E010200 24124
028 E020200 0
028 E030200 0
028 E040200 1151
028 F010200 535
028 F020200 0
028 F030200 0
028 F040200 7104
028 G010200 50948
028 G020200 0
028 G030200 0
028 G040200 9422
028 H000200 0
034 000200 N
035 000200 0
036 B000200 0
037 000200 Y
038 000200 20
039 000200 N
040 000200 Y
041 000200 Y
042 A000200 0
042 B000200 0
042 C000200 100
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
<PAGE> PAGE 10
043 000200 29
044 000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.600
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
049 000200 N
050 000200 N
051 000200 N
052 000200 Y
053 A000200 Y
053 B000200 Y
062 A000200 N
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
<PAGE> PAGE 11
062 R000200 0.0
063 A000200 0
063 B000200 0.0
066 A000200 Y
066 B000200 Y
066 C000200 N
066 D000200 N
066 E000200 N
066 F000200 N
066 G000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
071 A000200 38438
071 B000200 3364
071 C000200 17202
071 D000200 20
072 A000200 6
072 B000200 200
072 C000200 2
072 D000200 0
072 E000200 0
072 F000200 69
072 G000200 46
072 H000200 0
072 I000200 28
072 J000200 16
072 K000200 0
072 L000200 2
072 M000200 1
072 N000200 1
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 2
072 S000200 3
072 T000200 29
072 U000200 0
072 V000200 0
072 W000200 6
072 X000200 203
072 Y000200 0
072 Z000200 -1
072AA000200 832
072BB000200 0
072CC010200 2895
072CC020200 0
072DD010200 0
072DD020200 0
072EE000200 0
<PAGE> PAGE 12
073 A010200 0.0000
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 251
074 B000200 0
074 C000200 10350
074 D000200 0
074 E000200 0
074 F000200 38801
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 364
074 K000200 0
074 L000200 0
074 M000200 59
074 N000200 49825
074 O000200 2773
074 P000200 60
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 1640
074 S000200 0
074 T000200 45352
074 U010200 3258
074 U020200 0
074 V010200 13.92
074 V020200 0.00
074 W000200 0.0000
074 X000200 3429
074 Y000200 0
075 A000200 0
075 B000200 23225
076 000200 0.00
SIGNATURE SALLY REEVES
TITLE
<PAGE>
Oberweis Micro-Cap Portfolio
Transaction Effected Pursuant to Rule 10f-3
Initial Public Offering
- -------------------------------------------------------------------------------
Issue: COHR INC. Purchase Date: FEBRUARY 16, 1996
Shares Purchased: 10,000 Price Per Share: $9.00
Total Cost to Fund: $90,000
Total Principal Amount of Offering: $27,000,000 **
Fund's Total Cost as a % of Total Offering: 0.33% **
Fund's Total Cost as a % of Total Fund Assets: 1.2% (cannot exceed 3%)
Underwriter Purchased From: NEEDHAM & CO.
- -------------------------------------------------------------------------------
**The amount of securities of any class of such issue purchased by the Fund
cannot exceed 4% of the principal amount of the offering of such class or
$500,000 in principal amount, whichever is greater, but in no event greater than
10% of the principal amount of the offering.
. The securities were purchased at not more than the public offering price
prior to the end of the first full business day after the first date on
which the issue is offered to the public, if not offered for subscription
upon exercise of rights or, if so offered, purchased on or before the
fourth day preceding the day on which the rights offering terminates.
YES / no / not applicable
. Issue was offered pursuant to an underwriting agreement under which the
underwriters are committed to purchase all of the securities being offered,
except those purchased by others pursuant to a rights offering, if the
underwriters purchase any thereof: YES / no
. The issuer has been in continuous operation for not less than three years,
including the operation of any predecessors: YES / no
. The Fund has not purchased the securities directly or indirectly from an
officer, director, member of an advisory board, investment advisor or
employee of the Fund or from a person of which any such officer, director,
member of an advisory board, investment advisor or employee is an
affiliated person; provided that a purchase from a syndicate manager shall
not be deemed to be a purchase from a specific underwriter so long as that
underwriter does not benefit directly or indirectly from the transaction:
YES / no
. The commission, spread or profit, received by the principal underwriters is
reasonable and fair compared to the commission, spread or profit received
by other such persons in connection with the underwriting of similar
securities being sold during a comparable period of time: YES / no
To assist in determining Fund compliance with respect to this trade, the
following information is provided concerning recent offerings of similar
securities:
<TABLE>
<CAPTION>
Issuer Price Per Share Underwriting Discount Gross Spread
- ------ --------------- --------------------- ------------
<S> <C> <C> <C>
COHR Inc. $ 9.00 $0.63 7%
Dignity Partners, Inc. $12.00 $0.84 7%
REMEC, Inc. $ 8.00 $0.56 7%
</TABLE>
<PAGE>
COHR Inc.
Underwriting List
Neddham & Company, Inc.
Wedbush Morgan Securities
Bear, Stearns & Co. Inc.
Alex Brown & Sons Incorporated
Dean Witter Reynolds Inc.
Donaldson, Lufkin, Jenrette Securities Corporation
A.G. Edwards & Sons Inc.
Lehman Brothers Inc.
Morgan Stanley & Co. Incorporated
Prudential Securities Incorporated
UBS Securities Inc.
Crowell, Weedon & Co.
J.C. Bradford & Co.
The Chicago Corporation
Cowen & Company
Dain Bosworth Incorporated
Unterberg Harris
Brean Murray, Foster Securities, Inc.
J.W. Charles Securities, Inc.
Cruttenden Roth Incorprated
Equitable Securities Corporation
<PAGE>
Oberweis Micro-Cap Portfolio
Transaction Effected Pursuant to Rule 10f-3
Initial Public Offering
- --------------------------------------------------------------------------------
Issue: RISCORP INC. Purchase Date: FEBRUARY 28, 1996
Shares Purchased: 2,000 Price Per Share: $19.00
Total Cost to Fund: $38,000
Total Principal Amount of Offering: $190,000,000 **
Fund's Total Cost as a % of Total Offering: 0.02% **
Fund's Total Cost as a % of Total Fund Assets: .03% (cannot exceed 3%)
Underwriter Purchased From: SMITH BARNEY
- -------------------------------------------------------------------------------
**The amount of securities of any class of such issue purchased by the Fund
cannot exceed 4% of the principal amount of the offering of such class or
$500,000 in principal amount, whichever is greater, but in no event greater than
10% of the principal amount of the offering.
. The securities were purchased at not more than the public offering price
prior to the end of the first full business day after the first date on
which the issue is offered to the public, if not offered for subscription
upon exercise of rights or, if so offered, purchased on or before the
fourth day preceding the day on which the rights offering terminates.
YES / no / not applicable
. Issue was offered pursuant to an underwriting agreement under which the
underwriters are committed to purchase all of the securities being offered,
except those purchased by others pursuant to a rights offering, if the
underwriters purchase any thereof: YES / no
. The issuer has been in continuous operation for not less than three years,
including the operation of any predecessors: YES / no
. The Fund has not purchased the securities directly or indirectly from an
officer, director, member of an advisory board, investment advisor or
employee of the Fund or from a person of which any such officer, director,
member of an advisory board, investment advisor or employee is an
affiliated person; provided that a purchase from a syndicate manager shall
not be deemed to be a purchase from a specific underwriter so long as that
underwriter does not benefit directly or indirectly from the transaction:
YES / no
. The commission, spread or profit, received by the principal underwriters is
reasonable and fair compared to the commission, spread or profit received
by other such persons in connection with the underwriting of similar
securities being sold during a comparable period of time: YES / no
To assist in determining Fund compliance with respect to this trade, the
following information is provided concerning recent offerings of similar
securities:
<TABLE>
<CAPTION>
Issuer Price Per Share Underwriting Discount Gross Spread
- ------ --------------- --------------------- ------------
<S> <C> <C> <C>
Riscorp Inc. $19.00 $1.235 6.5%
XeTel Corporation $ 8.00 $ 0.56 7%
Trident International, Inc. $16.00 $ 1.12 7%
</TABLE>
<PAGE>
Riscorp Inc.
Underwriting List
A.G. Edwards & Sons, Inc.
Advest, Inc.
Alex Brown & Sons Incorporated
Bear, Sterns & Co. Inc.
Brean Murray, Foster Securities Inc.
C.L. King & Associates, Inc.
Conning & Company
Cowen & Company
Dain Bosworth Incorprated
Dillon, Read & Co. Inc.
EVEREN Securities, Inc.
First Equity Corporation of Florida
Fox-Pitt, Kelton Inc.
Furman Selz LLC
Goldman, Sachs & Co.
Hambrecht & Quist LLC
J.C. Bradford & Co.
J.J.B. Hilliard, W.L. Lyons, Inc.
Janney Montgomery Scott Inc.
Ladenburg, Thalmann & Co. Inc.
Lazard Freres & Co. LLC
Lehman Brothers Inc.
McDonald & Company Securities, Inc.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Montgomery Securities
Morgan Stanley & Co. Incorporated
Needham & Company, Inc.
Northington Capital Markets, Inc.
Oppenheimer & Co., Inc.
Paine Webber Incorprated
Pennsylvania Merchant Group Ltd.
Piper Jaffray Inc.
Principal Financial Securities, Inc.
Prudential Securities Incorporated
Rauscher Pierce Refsnes, Inc.
Robert W. Baird & Co. Incorporated
Robertson, Stephens & Company, LLC
Schroder Wertheim & Co. Incorporated
Smith Barney Inc.
The Chicago Corporation
The Ohio Company
The Robinson-Humphrey Company, Inc.
Vector Securities International, Inc.
Wessels, Arnold & Henderson, LLC
Wheat, First Securities, Inc.
William Blair & Company, L.L.C.
<PAGE>
Oberweis Micro-Cap Portfolio
Transaction Effected Pursuant to Rule 10f-3
Initial Public Offering
- -------------------------------------------------------------------------------
Issue: PRAEGITZER IND.. Purchase Date: APRIL 4, 1996
Shares Purchased: 10,000 Price Per Share: $9.50
Total Cost to Fund: $95,000
Total Principal Amount of Offering: $19,000,000 **
Fund's Total Cost as a % of Total Offering: 0.5% **
Fund's Total Cost as a % of Total Fund Assets: 0.05% (cannot exceed 3%)
Underwriter Purchased From: NEEDHAM & CO.
- -------------------------------------------------------------------------------
**The amount of securities of any class of such issue purchased by the Fund
cannot exceed 4% of the principal amount of the offering of such class or
$500,000 in principal amount, whichever is greater, but in no event greater than
10% of the principal amount of the offering.
. The securities were purchased at not more than the public offering price
prior to the end of the first full business day after the first date on
which the issue is offered to the public, if not offered for subscription
upon exercise of rights or, if so offered, purchased on or before the
fourth day preceding the day on which the rights offering terminates.
YES / no / not applicable
. Issue was offered pursuant to an underwriting agreement under which the
underwriters are committed to purchase all of the securities being offered,
except those purchased by others pursuant to a rights offering, if the
underwriters purchase any thereof: YES / no
. The issuer has been in continuous operation for not less than three years,
including the operation of any predecessors: YES / no
. The Fund has not purchased the securities directly or indirectly from an
officer, director, member of an advisory board, investment advisor or
employee of the Fund or from a person of which any such officer, director,
member of an advisory board, investment advisor or employee is an
affiliated person; provided that a purchase from a syndicate manager shall
not be deemed to be a purchase from a specific underwriter so long as that
underwriter does not benefit directly or indirectly from the transaction:
YES / no
. The commission, spread or profit, received by the principal underwriters is
reasonable and fair compared to the commission, spread or profit received
by other such persons in connection with the underwriting of similar
securities being sold during a comparable period of time: YES / no
To assist in determining Fund compliance with respect to this trade, the
following information is provided concerning recent offerings of similar
securities:
<TABLE>
<CAPTION>
Issuer Price Per Share Underwriting Discount Gross Spread
- ------ --------------- --------------------- ------------
<S> <C> <C> <C>
Praegitzer Ind. $ 9.50 $0.665 7%
KVH Ind. Inc. $ 6.50 $0.455 7%
HMT Technology Corp. $10.00 $0.675 6.76%
</TABLE>
<PAGE>
Praegitzer Industries
Underwriting List
A.G. Edwards & Sons, Inc.
Adams, Harkness & Hill, Inc.
Advest, Inc.
Bear, Sterns & Co. Inc.
Black & Company, Inc.
C.L. King & Associates, Inc.
Cleary Gull Reiland & McDevitt Inc.
Cowen & Company
Dain Bosworth Incorporated
First Albany Corporation
Genesis Merchant Group Securities
Hambrecht & Quist LLC
J.C. Bradford & Co.
Jensen Securities Co.
Lehman Brothers Inc.
Montgomery Securities
Morgan Stanley & Co. Incorporated
Needham & Company, Inc.
Preferred Technology, Inc.
Prudential Securities Incorporated
Ragan MacKenzie Incorporated
Raymond James & Associates, Inc.
Robertson, Stephens & Company, LLC
Sanders Morris Mundy Inc.
Southcoast Capital Corporation
Starr Securities, Inc.
Sutro & Co. Incorporated
The Robinson-Humphrey Company, Inc.
Van Kasper & Company
Wessels, Arnold & Henderson, LLC
William Blair & Company, L.L.C.
<PAGE>
Oberweis Micro-Cap Portfolio
Transaction Effected Pursuant to Rule 10f-3
Initial Public Offering
- --------------------------------------------------------------------------------
Issue: WHITTMANN-HART INC. Purchase Date: MAY 3, 1996
Shares Purchased: 2,000 Price Per Share: $16.00
Total Cost to Fund: $32,000
Total Principal Amount of Offering: $40,176,000 **
Fund's Total Cost as a % of Total Offering: 0.08% **
Fund's Total Cost as a % of Total Fund Assets: 0.10%(cannot exceed 3%)
Underwriter Purchased From: DONALDSON, LUFKIN & JENRETTE
- --------------------------------------------------------------------------------
**The amount of securities of any class of such issue purchased by the Fund
cannot exceed 4% of the principal amount of the offering of such class or
$500,000 in principal amount, whichever is greater, but in no event greater than
10% of the principal amount of the offering.
. The securities were purchased at not more than the public offering price
prior to the end of the first full business day after the first date on
which the issue is offered to the public, if not offered for subscription
upon exercise of rights or, if so offered, purchased on or before the
fourth day preceding the day on which the rights offering terminates. YES
/ no / not applicable
. Issue was offered pursuant to an underwriting agreement under which the
underwriters are committed to purchase all of the securities being offered,
except those purchased by others pursuant to a rights offering, if the
underwriters purchase any thereof: YES / no
. The issuer has been in continuous operation for not less than three years,
including the operation of any predecessors: YES / no
. The Fund has not purchased the securities directly or indirectly from an
officer, director, member of an advisory board, investment advisor or
employee of the Fund or from a person of which any such officer, director,
member of an advisory board, investment advisor or employee is an
affiliated person; provided that a purchase from a syndicate manager shall
not be deemed to be a purchase from a specific underwriter so long as that
underwriter does not benefit directly or indirectly from the transaction:
YES / no
. The commission, spread or profit, received by the principal underwriters is
reasonable and fair compared to the commission, spread or profit received
by other such persons in connection with the underwriting of similar
securities being sold during a comparable period of time: YES / no
To assist in determining Fund compliance with respect to this trade, the
following information is provided concerning recent offerings of similar
securities:
<TABLE>
<CAPTION>
Issuer Price Per Share Underwriting Discount Gross Spread
- ------ --------------- --------------------- ------------
<S> <C> <C> <C>
Whittmann-Hart Inc. $16.00 $1.12 7%
En Pointe Technologies $ 8.00 $0.52 6.5%
SIBIA Neurosciences, Inc. $11.00 $0.77 7%
</TABLE>
<PAGE>
Whittman-Hart Inc.
Underwriting List
Adams, Harkness & Hill, Inc.
Advest, Inc.
Alex Brown & Sons Incorporated
Bear, Sterns & Co. Inc.
C.S. First Boston Corporation
Cowen & Company
Dain Bosworth Incorprated
Donaldson, Lufkin & Jenrette Securities Corporation
Ferris, Baker Watts, Incorporated
First Albany Corporation
Furman Selz LLC
Goldman, Sachs & Co.
Hambrcht & Quist LLC
Interstate/Johnson Lane Corporation
J.P. Morgan Securities Inc.
McDonald & Company Securities, Inc.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Morgan Stanley & Co. Incorporated
Oppenheimer & Co., Inc.
Pennsylvania Merchant Group Ltd.
Robertson, Stephens & Company, LLC
Roney & Co.
Smith Barney Inc.
The Chicago Corporation
The Robinson-Humphrey Company, Inc.
Van Kasper & Company
Volpe, Stearns & Co. Inc.
William Blair & Company, L.L.C.
<PAGE>
Oberweis Emerging Growth Portfolio
Transaction Effected Pursuant to Rule 10f-3
Initial Public Offering
- --------------------------------------------------------------------------------
Issue: EXCEL COMMUNICATIONS, INC. Purchase Date: MAY 10, 1996
Shares Purchased: 2,000 Price Per Share: $15.00
Total Cost to Fund: $30,000
Total Principal Amount of Offering: $140,000,000 **
Fund's Total Cost as a % of Total Offering: 0.02% **
Fund's Total Cost as a % of Total Fund Assets: 0.01%(cannot exceed 3%)
Underwriter Purchased From: DONALDSON, LUFKIN & JENRETTE
- --------------------------------------------------------------------------------
**The amount of securities of any class of such issue purchased by the Fund
cannot exceed 4% of the principal amount of the offering of such class or
$500,000 in principal amount, whichever is greater, but in no event greater than
10% of the principal amount of the offering.
. The securities were purchased at not more than the public offering price
prior to the end of the first full business day after the first date on
which the issue is offered to the public, if not offered for subscription
upon exercise of rights or, if so offered, purchased on or before the
fourth day preceding the day on which the rights offering terminates. YES
/ no / not applicable
. Issue was offered pursuant to an underwriting agreement under which the
underwriters are committed to purchase all of the securities being offered,
except those purchased by others pursuant to a rights offering, if the
underwriters purchase any thereof: YES / no
. The issuer has been in continuous operation for not less than three years,
including the operation of any predecessors: YES / no
. The Fund has not purchased the securities directly or indirectly from an
officer, director, member of an advisory board, investment advisor or
employee of the Fund or from a person of which any such officer, director,
member of an advisory board, investment advisor or employee is an
affiliated person; provided that a purchase from a syndicate manager shall
not be deemed to be a purchase from a specific underwriter so long as that
underwriter does not benefit directly or indirectly from the transaction:
YES / no
. The commission, spread or profit, received by the principal underwriters is
reasonable and fair compared to the commission, spread or profit received
by other such persons in connection with the underwriting of similar
securities being sold during a comparable period of time: YES / no
To assist in determining Fund compliance with respect to this trade, the
following information is provided concerning recent offerings of similar
securities:
<TABLE>
<CAPTION>
Issuer Price Per Share Underwriting Discount Gross Spread
- ------ --------------- --------------------- ------------
<S> <C> <C> <C>
Excel Communications, Inc. $15.00 $1.00 6.66%
JPM Co. $ 7.50 $0.54 7.2%
Nova Corp. $19.00 $1.33 7%
</TABLE>
<PAGE>
Excel Communications, Inc.
Underwriting List
A.G. Edwards & Sons, Inc.
Advest, Inc.
Alex Brown & Sons Incorporated
C.S. First Boston Corporation
Crowell, Weedon & Co.
Cruttenden Roth Incorporated
Dean Witter Reynolds Inc.
Dillon, Read & Co. Inc.
Donaldson, Lufkin & Jenrette Securities Corporation
Edgar M. Norris & Co., Inc.
Fahnestock & Co. Inc.
First Manhattan Co.
First of Michigan Corporation
Furman Selz LLC
Gabelli & Company, Inc.
Gerard Klauer Mattison & Co.
Hambrecht & Quist LLC
Hoak Securities Corporation
Interstate/Johnson Lane Corporation
J.C. Bradford & Co.
Janney Montgomery Scott Inc.
Johnston, Lemon & Co. Incorporated
Ladenburg, Thalmann & Co. Inc.
Lazard Freres & Co. LLC
Lehman Brothers Inc.
McDonald & Company Securities, Inc.
Morgan Stanley & Co. Incorporated
Ormes Capital Markets, Inc.
Paine Webber Incorporated
Parker/Hunter Incorporated
Pennsylvania Merchant Group Ltd.
Principal Financial Securities, Inc.
Prudential Securities Incorporated
Ragan MacKenzie Incorporated
Rauscher Pierce Refsnes, Inc.
Raymond James & Associates, Inc.
Robertson, Stephens & Company, LLC
The Chicago Corporation
The Ohio Company
The Robinson-Humphrey Company, Inc.
UBS Securities LLC
<PAGE>
Oberweis Micro-Cap Portfolio
Transaction Effected Pursuant to Rule 10f-3
Initial Public Offering
- --------------------------------------------------------------------------------
Issue: ACC CONSUMER FINANCE CORP. Purchase Date: MAY 16, 1996
Shares Purchased: 55,000 Price Per Share: $7.25
Total Cost to Fund: $398,750
Total Principal Amount of Offering: $13,485,000 **
Fund's Total Cost as a % of Total Offering: 2.96% **
Fund's Total Cost as a % of Total Fund Assets: 0.88% (cannot exceed 3%)
Underwriter Purchased From: MONTGOMERY
- -------------------------------------------------------------------------------
**The amount of securities of any class of such issue purchased by the Fund
cannot exceed 4% of the principal amount of the offering of such class or
$500,000 in principal amount, whichever is greater, but in no event greater than
10% of the principal amount of the offering.
. The securities were purchased at not more than the public offering price
prior to the end of the first full business day after the first date on
which the issue is offered to the public, if not offered for subscription
upon exercise of rights or, if so offered, purchased on or before the
fourth day preceding the day on which the rights offering terminates.
YES / no / not applicable
. Issue was offered pursuant to an underwriting agreement under which the
underwriters are committed to purchase all of the securities being offered,
except those purchased by others pursuant to a rights offering, if the
underwriters purchase any thereof: YES / no
. The issuer has been in continuous operation for not less than three years,
including the operation of any predecessors: yes / NO
. The Fund has not purchased the securities directly or indirectly from an
officer, director, member of an advisory board, investment advisor or
employee of the Fund or from a person of which any such officer, director,
member of an advisory board, investment advisor or employee is an
affiliated person; provided that a purchase from a syndicate manager shall
not be deemed to be a purchase from a specific underwriter so long as that
underwriter does not benefit directly or indirectly from the transaction:
YES / no
. The commission, spread or profit, received by the principal underwriters is
reasonable and fair compared to the commission, spread or profit received
by other such persons in connection with the underwriting of similar
securities being sold during a comparable period of time: YES / no
To assist in determining Fund compliance with respect to this trade, the
following information is provided concerning recent offerings of similar
securities:
<TABLE>
<CAPTION>
Issuer Price Per Share Underwriting Discount Gross Spread
------ --------------- --------------------- -------------
<S> <C> <C> <C>
ACC Consumer Finance Corp. $ 7.25 $0.5075 7%
Gensym Corp. $10.00 $ 0.70 7%
Unify Corporation $12.00 $ 0.84 7%
</TABLE>
<PAGE>
ACC Consumer Finance Corp.
Underwriting List
A.G. Edwards & Sons, Inc.
Alex Brown & Sons Incorporated
Brean Murray, Foster Securities Inc.
J.C. Bradford & Co.
Legg Mason Wood Walker, Incorporated
McDonald & Company Securities, Inc.
Montgomery Securities
Piper Jaffray Inc.
Robertson, Stephens & Company, LLC
Rodman & Renshaw, Inc.
Stockbridge Partners, Inc.
The Chicago Corporation
Wheat First Butcher Singer
<PAGE>
Oberweis Micro-Cap Portfolio
Transaction Effected Pursuant to Rule 10f-3
Initial Public Offering
- --------------------------------------------------------------------------------
Issue: CFM TECHNOLOGIES. Purchase Date: JUNE 18, 1996
Shares Purchased: 40,000 Price Per Share: $10.00
Total Cost to Fund: $400,000
Total Principal Amount of Offering: $23,529,000 **
Fund's Total Cost as a % of Total Offering: 1.7% **
Fund's Total Cost as a % of Total Fund Assets: 0.83% (cannot exceed 3%)
Underwriter Purchased From: MONTGOMERY & PAINE WEBBER
- --------------------------------------------------------------------------------
**The amount of securities of any class of such issue purchased by the Fund
cannot exceed 4% of the principal amount of the offering of such class or
$500,000 in principal amount, whichever is greater, but in no event greater than
10% of the principal amount of the offering.
. The securities were purchased at not more than the public offering price
prior to the end of the first full business day after the first date on
which the issue is offered to the public, if not offered for subscription
upon exercise of rights or, if so offered, purchased on or before the
fourth day preceding the day on which the rights offering terminates.
YES / no / not applicable
. Issue was offered pursuant to an underwriting agreement under which the
underwriters are committed to purchase all of the securities being offered,
except those purchased by others pursuant to a rights offering, if the
underwriters purchase any thereof: YES / no
. The issuer has been in continuous operation for not less than three years,
including the operation of any predecessors: YES / no
. The Fund has not purchased the securities directly or indirectly from an
officer, director, member of an advisory board, investment advisor or
employee of the Fund or from a person of which any such officer, director,
member of an advisory board, investment advisor or employee is an
affiliated person; provided that a purchase from a syndicate manager shall
not be deemed to be a purchase from a specific underwriter so long as that
underwriter does not benefit directly or indirectly from the transaction:
YES / no
. The commission, spread or profit, received by the principal underwriters is
reasonable and fair compared to the commission, spread or profit received
by other such persons in connection with the underwriting of similar
securities being sold during a comparable period of time: YES / no
To assist in determining Fund compliance with respect to this trade, the
following information is provided concerning recent offerings of similar
securities:
<TABLE>
<CAPTION>
Issuer Price Per Share Underwriting Discount Gross Spread
------ --------------- --------------------- -------------
<S> <C> <C> <C>
CFM Technologies $10.00 $ .70 7%
Genset $16.00 $1.12 7%
DuPont Photomasks, Inc. $17.00 $1.19 7%
</TABLE>
<PAGE>
CFM Technologies
Underwriting List
Adams, Harkness & Hill, Inc.
Alex Brown & Sons Incorporated
Cowen & Company
Donaldson, Lufkin & Jenrette Securities Corporation
Hambrecht & Quist LLC
J.P. Morgan Securities Inc.
Kaufman Bros., L.P.
Ladenburg, Thalmann & Co. Inc.
Legg Mason Wood Walker, Incorporated
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Montgomery Securities
Needham & Company, Inc.
Paine Webber Incorprated
Pennsylvania Merchant Group Ltd.
Piper Jaffray Inc.
Ragan MacKenzie Incorporated
Raymond James & Associates, Inc.
Saloman Brothers Inc.
Soundview Fianacial Group, Inc.
The Ohio Company
Unterberg Harris
<PAGE>
Oberweis Micro-Cap Portfolio
Transaction Effected Pursuant to Rule 10f-3
Initial Public Offering
- --------------------------------------------------------------------------------
Issue: Multiple Zones Purchase Date: June 27, 1996
Shares Purchased: 80,000 Price Per Share: $12.00
Total Cost to Fund: $960,000
Total Principal Amount of Offering: $26,400,000 **
Fund's Total Cost as a % of Total Offering: 3.6% **
Fund's Total Cost as a % of Total Fund Assets: 2.15% (cannot exceed 3%)
Underwriter Purchased From: DAIN BOSWORTH
- -------------------------------------------------------------------------------
**The amount of securities of any class of such issue purchased by the Fund
cannot exceed 4% of the principal amount of the offering of such class or
$500,000 in principal amount, whichever is greater, but in no event greater than
10% of the principal amount of the offering.
. The securities were purchased at not more than the public offering price
prior to the end of the first full business day after the first date on
which the issue is offered to the public, if not offered for subscription
upon exercise of rights or, if so offered, purchased on or before the
fourth day preceding the day on which the rights offering terminates.
YES / no / not applicable
. Issue was offered pursuant to an underwriting agreement under which the
underwriters are committed to purchase all of the securities being offered,
except those purchased by others pursuant to a rights offering, if the
underwriters purchase any thereof: YES / no
. The issuer has been in continuous operation for not less than three years,
including the operation of any predecessors: YES / no
. The Fund has not purchased the securities directly or indirectly from an
officer, director, member of an advisory board, investment advisor or
employee of the Fund or from a person of which any such officer, director,
member of an advisory board, investment advisor or employee is an
affiliated person; provided that a purchase from a syndicate manager shall
not be deemed to be a purchase from a specific underwriter so long as that
underwriter does not benefit directly or indirectly from the transaction:
YES / no
. The commission, spread or profit, received by the principal underwriters is
reasonable and fair compared to the commission, spread or profit received
by other such persons in connection with the underwriting of similar
securities being sold during a comparable period of time: YES / no
To assist in determining Fund compliance with respect to this trade, the
following information is provided concerning recent offerings of similar
securities:
<TABLE>
<CAPTION>
Issuer Price Per Share Underwriting Discount Gross Spread
------ --------------- --------------------- -------------
<S> <C> <C> <C>
Multiple Zones $12.00 $ .84 7%
Qiagen N.V. $12.00 $ .84 7%
Southern Pacific Funding $17.00 $1.19 7%
</TABLE>
<PAGE>
Multiple Zones
Underwriting List
Advest, Inc.
Alex Brown & Sons Incorporated
Dain Bosworth Incorporated
Dean Witter Reynolds Inc.
Dillon, Read & Co. Inc.
Donaldson, Lufkin & Jenrette Securities Corporation
Furman Selz LLC
Hambrecht & Quist LLC
Interstate/Johnson Lane Corporation
J.C. Bradford & Co
Janney Montgomery Scott Inc.
Lazard Freres & Co. LLC
Montgomery Securities
Morgan Stanley & Co. Incorporated
Needham & Company, Inc.
Oppenheimer & Co., Inc.
Pacific Crest Securities, Inc.
Paine Webber Incorporated
Piper Jaffray Inc.
Principal Financial Securities, Inc.
Prudential Securities Incorporated
Ragan MacKenzie Incorporated
Rauscher Pierce Refsnes, Inc.
Robert W. Baird & Co. Incorporated
Robertson, Stephens & Company, LLC
The Chicago Corporation
Tucker Anthony Incorporated
Unterberg Harris L.P.
William Blair & Company, L.L.C.
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<LEGEND> This schedule contains summary financial information extracted from
June 30, 1996 Semi-Annual Report and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 01
<NAME> Oberweis Emerging Growth Portfolio
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 151,840
<INVESTMENTS-AT-VALUE> 211,800
<RECEIVABLES> 3,953
<ASSETS-OTHER> 26
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 215,779
<PAYABLE-FOR-SECURITIES> 2,754
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,575
<TOTAL-LIABILITIES> 8,329
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 131,829
<SHARES-COMMON-STOCK> 5,884
<SHARES-COMMON-PRIOR> 4,630
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 15,410
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 60,211
<NET-ASSETS> 207,450
<DIVIDEND-INCOME> 30
<INTEREST-INCOME> 628
<OTHER-INCOME> 0
<EXPENSES-NET> 1,230
<NET-INVESTMENT-INCOME> (572)
<REALIZED-GAINS-CURRENT> 9,249
<APPREC-INCREASE-CURRENT> 17,562
<NET-CHANGE-FROM-OPS> 26,239
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,681
<NUMBER-OF-SHARES-REDEEMED> (2,427)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 72,787
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 6,161
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 362
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,230
<AVERAGE-NET-ASSETS> 175,473
<PER-SHARE-NAV-BEGIN> 29.09
<PER-SHARE-NII> (.11)
<PER-SHARE-GAIN-APPREC> 6.28
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 35.26
<EXPENSE-RATIO> 1.41
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<LEGEND> This schedule contains summary financial information extracted from
June 30, 1996 Semi-Annual Report and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 02
<NAME> Oberweis Micro Cap Portfolio
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 46,256
<INVESTMENTS-AT-VALUE> 49,151
<RECEIVABLES> 364
<ASSETS-OTHER> 310
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 49,825
<PAYABLE-FOR-SECURITIES> 2,773
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,700
<TOTAL-LIABILITIES> 4,473
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 41,625
<SHARES-COMMON-STOCK> 3,258
<SHARES-COMMON-PRIOR> 10
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 832
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,895
<NET-ASSETS> 45,352
<DIVIDEND-INCOME> 2
<INTEREST-INCOME> 200
<OTHER-INCOME> 0
<EXPENSES-NET> 203
<NET-INVESTMENT-INCOME> (1)
<REALIZED-GAINS-CURRENT> 832
<APPREC-INCREASE-CURRENT> 2,895
<NET-CHANGE-FROM-OPS> 3,727
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,922
<NUMBER-OF-SHARES-REDEEMED> (674)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 45,252
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 69
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 203
<AVERAGE-NET-ASSETS> 23,225
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 3.92
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.92
<EXPENSE-RATIO> 1.75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
