<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT NO. 2
TO
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Edify Corporation
-----------------------------------------
(Name of Issuer)
Common Stock, $0.001 par value
-----------------------------------------
(Title of Class of Securities)
280599101
-----------------------------------------
(CUSIP Number)
David J. Greenwald, Esq.
Goldman, Sachs & Co.
85 Broad Street
New York, New York 10004
(212) 902-1000
--------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
October 22, 1998
-----------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rules 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box: [ ]
Page 1 of 20 pages
<PAGE>
- --------------------------
CUSIP NO.
280599101
- --------------------------
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Goldman, Sachs & Co.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
AF;WC;OO
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)
[X]
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
New York
- --------------------------------------------------------------------------------
Number of
Shares 7. Sole Voting Power
Beneficially
Owned By 0
Each -------------------------------
Reporting 8. Shared Voting Power
Person With
1,161,855
-------------------------------
9. Sole Dispositive Power
0
-------------------------------
10. Shared Dispositive Power
1,161,855
-------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
1,161,855
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13. Percent of Class Representing by Amount in Row (11)
6.8%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
BD-PN-IA
- --------------------------------------------------------------------------------
Page 2 of 20 pages
<PAGE>
- --------------------------
CUSIP NO.
280599101
- --------------------------
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
The Goldman Sachs Group, L.P.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
AF
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Delaware
- --------------------------------------------------------------------------------
Number of
Shares 7. Sole Voting Power
Beneficially
Owned By 0
Each -------------------------------
Reporting 8. Shared Voting Power
Person With
1,161,855
-------------------------------
9. Sole Dispositive Power
0
-------------------------------
10. Shared Dispositive Power
1,161,855
-------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
1,161,855
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13. Percent of Class Representing by Amount in Row (11)
6.8%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
HC-PN
- --------------------------------------------------------------------------------
Page 3 of 20 pages
<PAGE>
- -------------------------
CUSIP NO.
280599101
- -------------------------
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
GS Capital Partners II, L.P.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
WC
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Delaware
- --------------------------------------------------------------------------------
Number of
Shares 7. Sole Voting Power
Beneficially
Owned By 0
Each -------------------------------
Reporting 8. Shared Voting Power
Person With
604,190
-------------------------------
9. Sole Dispositive Power
0
-------------------------------
10. Shared Dispositive Power
604,190
-------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
604,190
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13. Percent of Class Representing by Amount in Row (11)
3.5%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
PN
- --------------------------------------------------------------------------------
Page 4 of 20 pages
<PAGE>
- -------------------------
CUSIP NO.
280599101
- -------------------------
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
GS Capital Partners II Offshore, L.P.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
WC
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Cayman Islands
- --------------------------------------------------------------------------------
Number of
Shares 7. Sole Voting Power
Beneficially
Owned By 0
Each -------------------------------
Reporting 8. Shared Voting Power
Person With
240,190
-------------------------------
9. Sole Dispositive Power
0
-------------------------------
10. Shared Dispositive Power
240,190
-------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
240,190
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13. Percent of Class Representing by Amount in Row (11)
1.4%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
PN
- --------------------------------------------------------------------------------
Page 5 of 20 pages
<PAGE>
- --------------------------
CUSIP NO.
280599101
- --------------------------
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
GS Capital Partners II (Germany) Civil Law Partnership
(with limitation of liability)
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
WC
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Germany
- --------------------------------------------------------------------------------
Number of
Shares 7. Sole Voting Power
Beneficially
Owned By 0
Each -------------------------------
Reporting 8. Shared Voting Power
Person With
22,286
-------------------------------
9. Sole Dispositive Power
0
-------------------------------
10. Shared Dispositive Power
22,286
-------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
22,286
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13. Percent of Class Representing by Amount in Row (11)
0.1%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
PN
- --------------------------------------------------------------------------------
Page 6 of 20 pages
<PAGE>
- --------------------------
CUSIP NO.
280599101
- --------------------------
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
GS Advisors, L.P.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
AF
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Delaware
- --------------------------------------------------------------------------------
Number of
Shares 7. Sole Voting Power
Beneficially
Owned By 0
Each -------------------------------
Reporting 8. Shared Voting Power
Person With
604,190
-------------------------------
9. Sole Dispositive Power
0
-------------------------------
10. Shared Dispositive Power
604,190
-------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
604,190
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
-------------------------------------------------------------------------------
13. Percent of Class Representing by Amount in Row (11)
3.5%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
PN
- --------------------------------------------------------------------------------
Page 7 of 20 pages
<PAGE>
- -------------------------
CUSIP NO.
280599101
- -------------------------
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
GS Advisors II (Cayman), L.P.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
AF
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Cayman Islands
- --------------------------------------------------------------------------------
Number of
Shares 7. Sole Voting Power
Beneficially
Owned By 0
Each -------------------------------
Reporting 8. Shared Voting Power
Person With
240,190
-------------------------------
9. Sole Dispositive Power
0
-------------------------------
10. Shared Dispositive Power
240,190
-------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
240,190
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13. Percent of Class Representing by Amount in Row (11)
1.4%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
PN
- --------------------------------------------------------------------------------
Page 8 of 20 pages
<PAGE>
- --------------------------
CUSIP NO.
280599101
- --------------------------
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Goldman, Sachs & Co. oHG
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
AF
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Germany
- --------------------------------------------------------------------------------
Number of
Shares 7. Sole Voting Power
Beneficially
Owned By 0
Each -------------------------------
Reporting 8. Shared Voting Power
Person With
22,286
-------------------------------
9. Sole Dispositive Power
0
-------------------------------
10. Shared Dispositive Power
22,286
-------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
22,286
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- --------------------------------------------------------------------------------
13. Percent of Class Representing by Amount in Row (11)
0.1%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
PN
- --------------------------------------------------------------------------------
Page 9 of 20 pages
<PAGE>
GS Capital Partners II, L.P. ("GSCP"), GS Capital Partners II Offshore, L.P.
("GSCP II Offshore"), GS Capital Partners II (Germany) Civil Law Partnership
("GSCP II Germany", and, together with GSCP and GSCP II Offshore, "GSCPII"), GS
Advisors, L.P. ("GS Advisors"), GS Advisors II (Cayman), L.P. ("GS Advisors
Cayman"), Goldman, Sachs & Co. oHG ("GS oHG"), Goldman, Sachs & Co. ("Goldman
Sachs") and The Goldman Sachs Group, L.P. ("GS Group" and, together with GSCPII,
GS Advisors, GS Advisors Cayman, GS oHG and Goldman Sachs, the "Filing
Persons")/1/ hereby amend this statement on Schedule 13D filed with respect to
the Common Stock, $0.001 par value per share (the "Common Stock"), of Edify
Corporation, a Delaware corporation (the "Company"), as most recently amended by
Amendment No. 1 thereto filed June 19, 1998 (as amended, the "Schedule 13D").
Goldman Sachs and GS Group may be deemed, for purposes of this Statement, to
beneficially own 962,963 shares of Common Stock through GSCPII and certain other
limited partnerships (the "Other Limited Partnerships" and, together with GSCP,
GSCP II Offshore and GSCP II Germany, the "Limited Partnerships") of which
affiliates of Goldman Sachs and GS Group are the general partner or the managing
general partner. Goldman Sachs and GS Group each disclaim beneficial ownership
of shares of Common Stock beneficially owned by the Limited Partnerships to the
extent of partnership interests in the Limited Partnerships held by persons
other than Goldman Sachs, GS Group or their affiliates. Goldman Sachs and GS
Group may also be deemed to beneficially own shares of Common Stock held in
client accounts with respect to which Goldman Sachs or employees of Goldman
Sachs have voting or investment discretion, or both ("Managed Accounts").
Goldman Sachs and GS Group each disclaim beneficial ownership of the shares of
Common Stock held in Managed Accounts. Goldman Sachs and GS Group may also be
deemed to beneficially own from time to time shares of Common Stock acquired in
ordinary course trading activities by Goldman Sachs. Unless otherwise indicated,
all capitalized terms used but not defined herein shall have the same meaning
ascribed to them in the Schedule 13D.
This Amendment No. 2 is being filed to report a decrease in the percentage
of the outstanding shares of Common Stock which may be deemed to be beneficially
owned by certain of the Filing Persons which change was as a result of an
increase in the number of shares of Common Stock reported to be outstanding by
the Company in its most recent Quarterly Report on Form 10-Q for the quarter
ended June 30, 1998 (the "Company's 10-Q"), relative to the number of shares of
Common Stock reported to be outstanding by the Company in its Quarterly Report
on Form 10-Q for the quarter ended March 31, 1998, and by a decrease in the
number of shares of Common Stock acquired in ordinary course trading activities
and held in Managed Accounts.
- ---------------------
/1/ Neither the present filing nor anything contained herein shall be construed
as an admission that any Filing Person constitutes a "person" for any
purpose other than Section 13(d) ofthe Securities Exchange Act of 1934.
Page 10 of 20 pages
<PAGE>
Item 1 is hereby amended and restated as follows:
Item 1. Security and Issuer
-------------------
This Statement on Schedule 13D relates to the Common Stock of the Company.
The principal executive offices of the Company are located at 2840 San
Tomas Expressway, Santa Clara, California 95051.
Item 3 is hereby amended as follows:
Item 3. Source and Amount of Funds or Other Consideration
-------------------------------------------------
Schedule IV attached hereto sets forth transactions in the Common Stock
which have been effected during the period from August 23, 1998 through October
23, 1998, all of which were effected in the ordinary course of business of
Goldman Sachs. The total consideration (exclusive of commissions) for shares of
Common Stock purchased during this period was approximately $2,897,542.94. Funds
for ordinary course trading purchases came from working capital.
Item 5 is hereby amended as follows:
Item 5. Interest in Securities of the Issuer
------------------------------------
(a) As of October 23, 1998, GSCP beneficially owned, and GS Advisors may be
deemed to have beneficially owned, an aggregate of 604,190 shares of Common
Stock, representing in the aggregate approximately 3.5% of the shares of the
Common Stock reported to be outstanding in the Company's 10-Q.
As of October 23, 1998, GSCP II Offshore beneficially owned, and GS
Advisors Cayman may be deemed to have beneficially owned, an aggregate of
240,190 shares of Common Stock, representing in the aggregate approximately 1.4%
of the shares of the Common Stock reported to be outstanding in the Company's
10-Q.
As of October 23, 1998, GSCP II Germany beneficially owned, and GS oHG may
be deemed to have beneficially owned, an aggregate of 22,286 shares of Common
Stock, representing in the aggregate approximately 0.1% of the shares of the
Common Stock reported to be outstanding in the Company's 10-Q.
As of October 23, 1998, each of Goldman Sachs and GS Group may be deemed to
have beneficially owned an aggregate of 1,161,855 shares of Common Stock,
including (i) the shares of Common Stock beneficially owned by the Limited
Partnerships described above, (ii) 96,297 shares of Common Stock beneficially
owned by the Other Limited Partnerships, (iii) 64,288 shares of Common Stock
acquired in ordinary course trading activities, and (iv) 134,604 shares of
Common Stock held in Managed Accounts, representing in the aggregate
approximately 6.8% of the Common Stock reported to be outstanding in the
Company's 10-Q.
GS Group and Goldman Sachs each disclaim beneficial ownership of (i) the
shares of Common Stock beneficially owned by the Limited Partnerships to the
extent of partnership interests in the Limited Partnerships held by persons
other than GS Group, Goldman Sachs or their affiliates and (ii) shares of Common
Stock held in Managed Accounts.
None of the Filing Persons, or, to the knowledge of any of the Filing
Persons, any of the Limited Partnerships that is not a Filing Person,
beneficially owns any shares of Common Stock as of October 23, 1998 other than
as set forth herein.
(c) Schedule IV sets forth transactions in the Common Stock which have been
effected during the period from August 23, 1998 through October 23, 1998, all of
which were effected in the ordinary course of business of Goldman Sachs. The
transactions in the Common Stock, described in Schedule IV, were effected in the
NASDAQ National Market. The total consideration (exclusive of commissions) for
the shares of Common Stock purchased during this period was approximately
$2,897,542.94.
Except as set forth on Schedule IV, no transactions in the Common Stock
were effected by the Filing Persons, or, to the knowledge of any of the Filing
Persons, any of the Limited Partnerships that is not a Filing Person or any of
the persons listed on Schedules I, II-B-i, II-B-ii or II-C hereto, during the
period from August 23, 1998 through October 23, 1998.
Page 11 of 20 pages
<PAGE>
<TABLE>
SIGNATURE
---------
After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in
this statement is true, complete and correct.
Dated: October 27, 1998
GOLDMAN, SACHS & CO.
By:/s/ Hans L. Reich
----------------------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
THE GOLDMAN SACHS GROUP,L.P.
By:/s/ Hans L. Reich
----------------------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
GS CAPITAL PARTNERS II, L.P.
By:/s/ Hans L. Reich
----------------------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
GS CAPITAL PARTNERS II OFFSHORE, L.P.
By:/s/ Hans L. Reich
------------------------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
GS CAPITAL PARTNERS II (GERMANY) CIVIL LAW PARTNERSHIP (with limitation of liability)
By:/s/ Hans L. Reich
----------------------------------------
Name: Hans L. Reich
Title: Attorney-in-Fact
GS ADVISORS, L.P.
By:/s/ Hans L. Reich
----------------------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
GS ADVISORS II (CAYMAN), L.P.
By:/s/ Hans L. Reich
-----------------------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
GOLDMAN, SACHS & CO. oHG
By:/s/ Hans L. Reich
-----------------------------------------
Name: Hans L. Reich
Title: Attorney-in-Fact
Page 12 of 20 pages
<PAGE>
SCHEDULE I
----------
The name of each director of The Goldman Sachs Corporation and The Goldman, Sachs &
Co. L.L.C. and of each member of the executive committees of The Goldman Sachs Corporation, The
Goldman Sachs & Co. L.L.C., The Goldman Sachs Group, L.P. and Goldman, Sachs & Co. is set forth
below.
The business address of each person listed below except John L. Thornton is 85 Broad
Street, New York, NY 10004. The business address of John L. Thornton is 133 Fleet Street, London
EC4A 2BB, England. Each person is a citizen of the United States of America. The present
principal occupation or employment of each of the listed persons is as a managing director of
Goldman, Sachs & Co. or another Goldman Sachs operating entity and as a member of the executive
committee.
Jon Z. Corzine
Henry M. Paulson, Jr.
Roy J. Zuckerberg
Robert J. Hurst
John A. Thain
John L. Thornton
Page 13 of 20 pages
<PAGE>
SCHEDULE IV
Edify Corporation
Cusip No. 280599101
Purchases Sales Price Trade Date Settlement Date
---------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1,000 7 24-Aug-98 27-Aug-98
1,000 7.25 24-Aug-98 27-Aug-98
1,000 6.5 24-Aug-98 27-Aug-98
600 6.875 24-Aug-98 27-Aug-98
1,300 6.75 24-Aug-98 27-Aug-98
1,000 7.125 24-Aug-98 27-Aug-98
1,000 7.0625 24-Aug-98 27-Aug-98
1,000 6.75 24-Aug-98 27-Aug-98
1,000 7.125 24-Aug-98 27-Aug-98
10,000 7 24-Aug-98 27-Aug-98
1,000 7 24-Aug-98 27-Aug-98
1,000 6.875 24-Aug-98 27-Aug-98
750 7.125 24-Aug-98 27-Aug-98
1,000 7.125 24-Aug-98 27-Aug-98
1,000 6.75 24-Aug-98 27-Aug-98
3,300 6.75 24-Aug-98 27-Aug-98
700 7.25 24-Aug-98 27-Aug-98
1,000 6.6875 24-Aug-98 27-Aug-98
1,000 6.75 24-Aug-98 27-Aug-98
1,000 6.875 24-Aug-98 27-Aug-98
1,000 7 24-Aug-98 27-Aug-98
2,000 7 24-Aug-98 27-Aug-98
4,000 7 24-Aug-98 27-Aug-98
1,000 6.6875 24-Aug-98 27-Aug-98
1,000 6.5 24-Aug-98 27-Aug-98
1,000 6.75 24-Aug-98 27-Aug-98
500 6.75 24-Aug-98 27-Aug-98
8,000 7 24-Aug-98 27-Aug-98
4,000 7 24-Aug-98 27-Aug-98
1,000 6.75 24-Aug-98 27-Aug-98
300 7.125 24-Aug-98 27-Aug-98
50 6.5 24-Aug-98 27-Aug-98
1,000 7.1875 24-Aug-98 27-Aug-98
700 7 24-Aug-98 27-Aug-98
1,000 7 24-Aug-98 27-Aug-98
4,000 7 24-Aug-98 27-Aug-98
600 7.25 24-Aug-98 27-Aug-98
100 6 25-Aug-98 28-Aug-98
2,000 6.75 25-Aug-98 28-Aug-98
500 6 25-Aug-98 28-Aug-98
1,000 6.125 25-Aug-98 28-Aug-98
1,000 6.5 25-Aug-98 28-Aug-98
2,500 6.03125 26-Aug-98 31-Aug-98
1,000 6.25 26-Aug-98 31-Aug-98
2,500 5.6875 27-Aug-98 1-Sep-98
4,000 5.75 27-Aug-98 1-Sep-98
200 6 27-Aug-98 1-Sep-98
1,000 5.375 27-Aug-98 1-Sep-98
500 5.75 27-Aug-98 1-Sep-98
2,000 5.75 27-Aug-98 1-Sep-98
5,900 5.75 27-Aug-98 1-Sep-98
15,000 5.5 28-Aug-98 2-Sep-98
300 5.75 28-Aug-98 2-Sep-98
1,000 5.625 28-Aug-98 2-Sep-98
1,000 5.5625 28-Aug-98 2-Sep-98
1,000 5.5625 28-Aug-98 2-Sep-98
1,000 5.5625 28-Aug-98 2-Sep-98
2,000 5.625 28-Aug-98 2-Sep-98
Page 14 of 20 pages
<PAGE>
Purchases Sales Price Trade Date Settlement Date
---------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1,000 5.5625 28-Aug-98 2-Sep-98
2,400 5.625 28-Aug-98 2-Sep-98
20,000 5.5 28-Aug-98 2-Sep-98
1,000 5.625 28-Aug-98 2-Sep-98
1,000 5.625 28-Aug-98 2-Sep-98
2,200 5.5625 28-Aug-98 2-Sep-98
7,500 5.571 28-Aug-98 2-Sep-98
600 5.375 28-Aug-98 2-Sep-98
15,000 5.5625 28-Aug-98 2-Sep-98
1,000 5.5625 28-Aug-98 2-Sep-98
1,000 5.5625 28-Aug-98 2-Sep-98
1,000 5.625 28-Aug-98 2-Sep-98
5,000 5.5625 28-Aug-98 2-Sep-98
5,800 5.625 28-Aug-98 2-Sep-98
1,000 5.5 28-Aug-98 2-Sep-98
200 5.625 28-Aug-98 2-Sep-98
1,000 5.5625 28-Aug-98 2-Sep-98
10,000 5.625 28-Aug-98 2-Sep-98
1,000 5.5625 28-Aug-98 2-Sep-98
800 5.5625 28-Aug-98 2-Sep-98
200 5.5625 28-Aug-98 2-Sep-98
100 5.625 31-Aug-98 3-Sep-98
6,000 5.5625 31-Aug-98 3-Sep-98
800 5.625 31-Aug-98 3-Sep-98
400 5.625 31-Aug-98 3-Sep-98
3,000 5.5625 31-Aug-98 3-Sep-98
2,000 5.625 31-Aug-98 3-Sep-98
4,000 5.345 31-Aug-98 3-Sep-98
2,000 5.625 31-Aug-98 3-Sep-98
10,000 5.625 31-Aug-98 3-Sep-98
6,000 5.5625 31-Aug-98 3-Sep-98
660 5.625 31-Aug-98 3-Sep-98
4,000 5.5 31-Aug-98 3-Sep-98
10,000 5.375 31-Aug-98 3-Sep-98
900 5.625 31-Aug-98 3-Sep-98
1,000 5.25 1-Sep-98 4-Sep-98
1,500 5.75 1-Sep-98 4-Sep-98
2,000 5.625 1-Sep-98 4-Sep-98
4,000 5.625 1-Sep-98 4-Sep-98
1,000 5.75 1-Sep-98 4-Sep-98
1,000 5.625 1-Sep-98 4-Sep-98
600 5.75 1-Sep-98 4-Sep-98
500 5.625 1-Sep-98 4-Sep-98
500 5.625 1-Sep-98 4-Sep-98
3,000 5.2 1-Sep-98 4-Sep-98
6,000 5.1875 1-Sep-98 4-Sep-98
1,000 5.625 1-Sep-98 4-Sep-98
1,300 5.375 1-Sep-98 4-Sep-98
10,000 5.5625 1-Sep-98 4-Sep-98
3,500 5.625 1-Sep-98 4-Sep-98
5,000 5.625 1-Sep-98 4-Sep-98
5,000 5.625 1-Sep-98 4-Sep-98
4,000 5.25 1-Sep-98 4-Sep-98
4,000 5.75 1-Sep-98 4-Sep-98
1,000 5.75 1-Sep-98 4-Sep-98
3,000 5.625 1-Sep-98 4-Sep-98
6,000 5.1875 1-Sep-98 4-Sep-98
1,000 5.75 1-Sep-98 4-Sep-98
Page 15 of 20 pages
<PAGE>
Purchases Sales Price Trade Date Settlement Date
---------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1,400 6 2-Sep-98 8-Sep-98
2,000 5.875 2-Sep-98 8-Sep-98
1,000 6 2-Sep-98 8-Sep-98
1,300 6.125 2-Sep-98 8-Sep-98
1,000 6 2-Sep-98 8-Sep-98
3,000 5.875 2-Sep-98 8-Sep-98
3,000 5.875 2-Sep-98 8-Sep-98
2,000 5.75 2-Sep-98 8-Sep-98
2,000 5.875 2-Sep-98 8-Sep-98
1,000 5.875 2-Sep-98 8-Sep-98
3,000 5.75 2-Sep-98 8-Sep-98
19,675 5.875 2-Sep-98 8-Sep-98
2,000 5.875 2-Sep-98 8-Sep-98
500 6 2-Sep-98 8-Sep-98
600 6 2-Sep-98 8-Sep-98
400 6.125 2-Sep-98 8-Sep-98
1,000 6.125 2-Sep-98 8-Sep-98
1,000 5.4375 3-Sep-98 9-Sep-98
1,000 5.03125 3-Sep-98 9-Sep-98
1,000 5.375 3-Sep-98 9-Sep-98
100 5.25 3-Sep-98 9-Sep-98
2,000 5 3-Sep-98 9-Sep-98
500 5.25 3-Sep-98 9-Sep-98
1,000 5.5 3-Sep-98 9-Sep-98
3,000 5.5 3-Sep-98 9-Sep-98
1,000 5.5 3-Sep-98 9-Sep-98
1,000 5.4375 3-Sep-98 9-Sep-98
1,000 5.25 3-Sep-98 9-Sep-98
1,000 5.5 3-Sep-98 9-Sep-98
100 5.125 3-Sep-98 9-Sep-98
500 5.25 3-Sep-98 9-Sep-98
1,000 5.25 3-Sep-98 9-Sep-98
3,000 5.5 3-Sep-98 9-Sep-98
100 5.5 3-Sep-98 9-Sep-98
1,000 5.3125 3-Sep-98 9-Sep-98
200 6 3-Sep-98 9-Sep-98
200 5.375 3-Sep-98 9-Sep-98
1,000 5.625 3-Sep-98 9-Sep-98
1,000 5.125 3-Sep-98 9-Sep-98
100 5.25 3-Sep-98 9-Sep-98
2,200 5.375 4-Sep-98 10-Sep-98
1,000 5.375 4-Sep-98 10-Sep-98
1,000 5.5625 9-Sep-98 14-Sep-98
25,000 5.5 10-Sep-98 15-Sep-98
1,500 5.5 10-Sep-98 15-Sep-98
325 5.625 10-Sep-98 15-Sep-98
1,000 5.5 10-Sep-98 15-Sep-98
1,000 5.5 10-Sep-98 15-Sep-98
8,000 5.5 10-Sep-98 15-Sep-98
2,000 5.5 10-Sep-98 15-Sep-98
659 5.375 10-Sep-98 15-Sep-98
1,000 5.625 10-Sep-98 15-Sep-98
100 5.625 10-Sep-98 15-Sep-98
2,500 5.75 14-Sep-98 17-Sep-98
5,000 5.75 14-Sep-98 17-Sep-98
1,000 5.875 15-Sep-98 18-Sep-98
1,300 5.875 15-Sep-98 18-Sep-98
5,000 6.125 16-Sep-98 21-Sep-98
Page 16 of 20 pages
<PAGE>
Purchases Sales Price Trade Date Settlement Date
---------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1,000 6.25 16-Sep-98 21-Sep-98
1,000 6.25 16-Sep-98 21-Sep-98
1,000 6.5 16-Sep-98 21-Sep-98
1,000 6.25 16-Sep-98 21-Sep-98
500 6.375 16-Sep-98 21-Sep-98
1,000 6.46875 16-Sep-98 21-Sep-98
1,000 6.25 16-Sep-98 21-Sep-98
200 6.25 16-Sep-98 21-Sep-98
200 6 16-Sep-98 21-Sep-98
200 6.5 16-Sep-98 21-Sep-98
200 6.375 17-Sep-98 22-Sep-98
1,000 6.625 17-Sep-98 22-Sep-98
100 6.625 17-Sep-98 22-Sep-98
1,000 6.5 17-Sep-98 22-Sep-98
1,000 6.625 17-Sep-98 22-Sep-98
1,000 6.625 17-Sep-98 22-Sep-98
1,000 6.375 17-Sep-98 22-Sep-98
1,000 6.5625 17-Sep-98 22-Sep-98
500 6.375 18-Sep-98 23-Sep-98
500 6.6875 18-Sep-98 23-Sep-98
100 6.75 18-Sep-98 23-Sep-98
300 6.59375 18-Sep-98 23-Sep-98
1,000 6.5 18-Sep-98 23-Sep-98
4,900 6.5 18-Sep-98 23-Sep-98
5,000 6.625 18-Sep-98 23-Sep-98
800 6.59375 18-Sep-98 23-Sep-98
1,000 6.875 18-Sep-98 23-Sep-98
1,000 6.875 18-Sep-98 23-Sep-98
1,000 6.5 18-Sep-98 23-Sep-98
1,000 6.875 21-Sep-98 24-Sep-98
2,000 7.0625 21-Sep-98 24-Sep-98
1,000 7 21-Sep-98 24-Sep-98
1,000 7 21-Sep-98 24-Sep-98
1,000 6.625 22-Sep-98 25-Sep-98
1,300 6.625 22-Sep-98 25-Sep-98
1,000 7.125 22-Sep-98 25-Sep-98
3,500 6.625 22-Sep-98 25-Sep-98
1,100 7.125 22-Sep-98 25-Sep-98
1,000 6.75 22-Sep-98 25-Sep-98
1,800 6.68 22-Sep-98 25-Sep-98
1,300 6.68 22-Sep-98 25-Sep-98
3,000 7 23-Sep-98 28-Sep-98
1,000 7 23-Sep-98 28-Sep-98
1,000 7.0625 23-Sep-98 28-Sep-98
1,000 7.0625 23-Sep-98 28-Sep-98
2,000 7 23-Sep-98 28-Sep-98
1,000 7 23-Sep-98 28-Sep-98
1,000 7 23-Sep-98 28-Sep-98
3,000 7 23-Sep-98 28-Sep-98
1,000 6.625 24-Sep-98 29-Sep-98
10,000 6.56 25-Sep-98 30-Sep-98
160,803 6.5625 28-Sep-98 1-Oct-98
160,803 6.5625 28-Sep-98 1-Oct-98
1,000 6.25 28-Sep-98 1-Oct-98
1,000 6.625 28-Sep-98 1-Oct-98
1,000 6.375 28-Sep-98 1-Oct-98
100 6.5625 28-Sep-98 1-Oct-98
1,300 6.625 29-Sep-98 2-Oct-98
Page 17 of 20 pages
<PAGE>
Purchases Sales Price Trade Date Settlement Date
---------------------------------------------------------------------------
<S> <C> <C> <C> <C>
2,500 6.625 29-Sep-98 2-Oct-98
700 6.5 1-Oct-98 6-Oct-98
300 6.5 1-Oct-98 6-Oct-98
1,000 6.375 1-Oct-98 6-Oct-98
955 6.625 1-Oct-98 6-Oct-98
2,000 6.75 2-Oct-98 7-Oct-98
5,000 6.75 2-Oct-98 7-Oct-98
1,000 6.75 2-Oct-98 7-Oct-98
1,000 6.75 2-Oct-98 7-Oct-98
2,000 6.75 2-Oct-98 7-Oct-98
1,000 6.625 2-Oct-98 7-Oct-98
1,500 6.4375 2-Oct-98 7-Oct-98
1,000 6.75 2-Oct-98 7-Oct-98
3,000 6.75 2-Oct-98 7-Oct-98
1,000 6.75 2-Oct-98 7-Oct-98
1,000 5.75 5-Oct-98 8-Oct-98
100 5.625 5-Oct-98 8-Oct-98
1,000 5.25 5-Oct-98 8-Oct-98
100 5.6875 5-Oct-98 8-Oct-98
1,000 6.125 5-Oct-98 8-Oct-98
5,000 5.125 5-Oct-98 8-Oct-98
800 5.125 5-Oct-98 8-Oct-98
500 5.75 5-Oct-98 8-Oct-98
4,000 5.125 5-Oct-98 8-Oct-98
2,000 5.085 5-Oct-98 8-Oct-98
2,000 5.7725 5-Oct-98 8-Oct-98
2,000 6.46 5-Oct-98 8-Oct-98
1,000 5.125 5-Oct-98 8-Oct-98
500 5.625 5-Oct-98 8-Oct-98
600 5.375 5-Oct-98 8-Oct-98
1,000 5.125 5-Oct-98 8-Oct-98
1,000 5.375 5-Oct-98 8-Oct-98
100 5.75 5-Oct-98 8-Oct-98
1,000 5.0625 5-Oct-98 8-Oct-98
100 5.75 5-Oct-98 8-Oct-98
1,000 5.875 5-Oct-98 8-Oct-98
500 5.75 5-Oct-98 8-Oct-98
2,000 5.0225 5-Oct-98 8-Oct-98
1,000 5 5-Oct-98 8-Oct-98
1,000 5.75 5-Oct-98 8-Oct-98
1,000 5.25 5-Oct-98 8-Oct-98
5,000 5.25 6-Oct-98 9-Oct-98
2,000 5.25 6-Oct-98 9-Oct-98
3,000 5.0625 6-Oct-98 9-Oct-98
1,000 5.25 6-Oct-98 9-Oct-98
4,000 5 6-Oct-98 9-Oct-98
1,000 5.25 6-Oct-98 9-Oct-98
100 5.1875 6-Oct-98 9-Oct-98
7,000 5.25 6-Oct-98 9-Oct-98
1,000 5.25 6-Oct-98 9-Oct-98
800 5.0625 6-Oct-98 9-Oct-98
1,000 5.25 6-Oct-98 9-Oct-98
1,000 5.25 6-Oct-98 9-Oct-98
1,000 5.25 6-Oct-98 9-Oct-98
1,000 5.25 6-Oct-98 9-Oct-98
1,000 5.25 6-Oct-98 9-Oct-98
1,000 5.25 6-Oct-98 9-Oct-98
4,000 5.085 6-Oct-98 9-Oct-98
Page 18 of 20 pages
<PAGE>
Purchases Sales Price Trade Date Settlement Date
---------------------------------------------------------------------------
<S> <C> <C> <C> <C>
230 5.25 6-Oct-98 9-Oct-98
4,000 5.21 6-Oct-98 9-Oct-98
200 5.0625 6-Oct-98 9-Oct-98
1,000 5.25 6-Oct-98 9-Oct-98
1,000 5.0625 6-Oct-98 9-Oct-98
2,000 5.0625 6-Oct-98 9-Oct-98
1,000 5.25 6-Oct-98 9-Oct-98
1,000 5.25 6-Oct-98 9-Oct-98
1,000 5.25 6-Oct-98 9-Oct-98
4,000 6.0325 7-Oct-98 13-Oct-98
2,000 6.0625 7-Oct-98 13-Oct-98
1,200 6 7-Oct-98 13-Oct-98
1,500 5.75 7-Oct-98 13-Oct-98
1,000 5.75 7-Oct-98 13-Oct-98
1,000 6 7-Oct-98 13-Oct-98
1,000 5.25 7-Oct-98 13-Oct-98
1,600 6.125 7-Oct-98 13-Oct-98
2,000 6.25 7-Oct-98 13-Oct-98
3,800 5.875 7-Oct-98 13-Oct-98
100 6 7-Oct-98 13-Oct-98
2,800 5.875 7-Oct-98 13-Oct-98
3,000 5.75 7-Oct-98 13-Oct-98
500 6.125 7-Oct-98 13-Oct-98
1,000 6.25 7-Oct-98 13-Oct-98
1,800 6.25 7-Oct-98 13-Oct-98
800 6 7-Oct-98 13-Oct-98
1,000 6 7-Oct-98 13-Oct-98
1,600 6.125 7-Oct-98 13-Oct-98
1,800 6.25 7-Oct-98 13-Oct-98
500 5.75 7-Oct-98 13-Oct-98
2,000 5.375 8-Oct-98 14-Oct-98
1,800 5.375 8-Oct-98 14-Oct-98
1,000 5.375 8-Oct-98 14-Oct-98
100 5.375 8-Oct-98 14-Oct-98
100 5.375 8-Oct-98 14-Oct-98
1,000 5.125 8-Oct-98 14-Oct-98
1,800 5.375 8-Oct-98 14-Oct-98
2,800 5.375 8-Oct-98 14-Oct-98
500 5.25 8-Oct-98 14-Oct-98
100 5.21875 8-Oct-98 14-Oct-98
1,000 5.25 8-Oct-98 14-Oct-98
500 5.375 8-Oct-98 14-Oct-98
1,000 5.25 8-Oct-98 14-Oct-98
2,800 5.75 8-Oct-98 14-Oct-98
3,000 5.75 8-Oct-98 14-Oct-98
2,000 5.375 8-Oct-98 14-Oct-98
100 5.125 8-Oct-98 14-Oct-98
1,000 5.75 8-Oct-98 14-Oct-98
2,800 5.75 8-Oct-98 14-Oct-98
400 5.875 9-Oct-98 15-Oct-98
400 6.125 9-Oct-98 15-Oct-98
500 5.625 12-Oct-98 15-Oct-98
1,800 5.875 12-Oct-98 15-Oct-98
1,580 5.375 12-Oct-98 15-Oct-98
1,000 5.875 13-Oct-98 16-Oct-98
310 5.875 13-Oct-98 16-Oct-98
300 5.75 14-Oct-98 19-Oct-98
1,000 5.875 15-Oct-98 20-Oct-98
Page 19 of 20 pages
<PAGE>
Purchases Sales Price Trade Date Settlement Date
---------------------------------------------------------------------------
<S> <C> <C> <C> <C>
500 5.625 15-Oct-98 20-Oct-98
1,000 5.625 15-Oct-98 20-Oct-98
1,000 4.875 19-Oct-98 22-Oct-98
1,000 4.875 19-Oct-98 22-Oct-98
1,000 4.625 19-Oct-98 22-Oct-98
1,000 4.625 19-Oct-98 22-Oct-98
1,000 4.625 19-Oct-98 22-Oct-98
1,000 5.125 20-Oct-98 23-Oct-98
2,000 5.25 20-Oct-98 23-Oct-98
1,000 5.625 21-Oct-98 26-Oct-98
200 5.625 21-Oct-98 26-Oct-98
1,000 5.625 21-Oct-98 26-Oct-98
1,000 5.875 21-Oct-98 26-Oct-98
5,000 6 22-Oct-98 27-Oct-98
3,000 5.5 22-Oct-98 27-Oct-98
3,000 5.8125 22-Oct-98 27-Oct-98
3,000 5.5 22-Oct-98 27-Oct-98
5,000 6 22-Oct-98 27-Oct-98
5,500 5.5 22-Oct-98 27-Oct-98
1,000 6.25 22-Oct-98 27-Oct-98
3,600 5.5 22-Oct-98 27-Oct-98
1,500 5.5 22-Oct-98 27-Oct-98
6,000 5.5 22-Oct-98 27-Oct-98
2,000 6 22-Oct-98 27-Oct-98
4,000 5.75 22-Oct-98 27-Oct-98
100 6.125 22-Oct-98 27-Oct-98
3,600 5.5 22-Oct-98 27-Oct-98
500 5.5 22-Oct-98 27-Oct-98
1,400 5.5 22-Oct-98 27-Oct-98
1,800 6 22-Oct-98 27-Oct-98
1,000 5.5 22-Oct-98 27-Oct-98
1,500 5.5 22-Oct-98 27-Oct-98
1,400 5.5 22-Oct-98 27-Oct-98
2,800 6.125 22-Oct-98 27-Oct-98
3,000 5.9375 22-Oct-98 27-Oct-98
2,000 5.5 22-Oct-98 27-Oct-98
1,000 6.125 22-Oct-98 27-Oct-98
1,500 5.5 22-Oct-98 27-Oct-98
200 5.5 22-Oct-98 27-Oct-98
200 6.125 22-Oct-98 27-Oct-98
2,000 5.5 22-Oct-98 27-Oct-98
2,000 5.875 22-Oct-98 27-Oct-98
2,000 5.4375 23-Oct-98 28-Oct-98
900 5.4375 23-Oct-98 28-Oct-98
1,300 6.68 22-Sep-98 25-Sep-98
659 5.375 10-Sep-98 15-Sep-98
3,000 5.5 22-Oct-98 27-Oct-98
3,000 5.2 1-Sep-98 4-Sep-98
1,500 5.5 22-Oct-98 27-Oct-98
2,000 5.5 22-Oct-98 27-Oct-98
1,500 5.5 22-Oct-98 27-Oct-98
6,000 5.5 22-Oct-98 27-Oct-98
5,500 5.5 22-Oct-98 27-Oct-98
2,000 5.5 22-Oct-98 27-Oct-98
3,000 5.5 22-Oct-98 27-Oct-98
4,000 5.345 31-Aug-98 3-Sep-98
4,000 6.0325 7-Oct-98 13-Oct-98
4,000 5.75 27-Aug-98 1-Sep-98
1,580 5.375 12-Oct-98 15-Oct-98
Page 20 of 20 pages
</TABLE>
