<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)
THOUSAND TRAILS INC.
(Name of Issuer)
Common Stock, Par Value, $0.01 Per Share
(Title of Class of Securities)
885502104
(CUSIP Number)
Stephen M. Davis, Esq.
Werbel & Carnelutti
A Professional Corporation
711 Fifth Avenue, New York, New York 10022, (212) 832-8300
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
December 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 Rule 13-d-1(b)(3) or (4), check the following box [ ].
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purposes of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities
of that section of the Act but shall be subject to all other provisions of
the Act (however, see the Notes).
Page 1 of 15
<PAGE>
<PAGE>
SCHEDULE 13D
- ---------------------- -----------------
CUSIP No. 885502104 Page 2 of 15 Pages
- ---------------------- ------------------
=====================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
The SC Fundamental Value Fund, L.P.
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC/OO
- -----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
898,608
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
898,608
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
898,608
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.0%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
<PAGE>
<PAGE>
SCHEDULE 13D
- ---------------------- -----------------
CUSIP No. 885502104 Page 3 of 15 Pages
- ---------------------- -----------------
=====================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
SC Fundamental Value BVI, Inc.
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- -----------------------------------------------------------------------------
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 BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
342,890
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
342,890
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
342,890
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.6%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
=====================================================
<PAGE>
SCHEDULE 13D
- ---------------------- -----------------
CUSIP No. 885502104 Page 4 of 15 Pages
- ---------------------- -----------------
=====================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
SC Fundamental Inc.
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- -----------------------------------------------------------------------------
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 BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
898,608
- ----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
898,608
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
898,608
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.0%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO<PAGE>
<PAGE>
SCHEDULE 13D
- ---------------------- -----------------
CUSIP No. 885502104 Page 5 of 15 Pages
- ---------------------- -----------------
=====================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Gary N. Siegler
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- -----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -----------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
1,241,498
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,241,498
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,241,498
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.5%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
=====================================================<PAGE>
<PAGE>
SCHEDULE 13D
- ---------------------- -----------------
CUSIP No. 885502104 Page 6 of 15 Pages
- --------------------- -----------------
=====================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Peter M. Collery
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- -----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -----------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
1,241,498
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,241,498
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,241,498
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.5%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN<PAGE>
<PAGE>
SCHEDULE 13D
- ---------------------- -----------------
CUSIP No. 885502104 Page 7 of 15 Pages
- ---------------------- -----------------
=====================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Neil H. Koffler
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC/OO
- -----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -----------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
1,241,498
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,241,498
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,241,498
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.5%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
<PAGE>
<PAGE>
SCHEDULE 13D
- ---------------------- -----------------
CUSIP No. 885502104 Page 8 of 15 Pages
- ---------------------- -----------------
=====================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
SC-BVI Partners
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- -----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -----------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
342,890
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
342,890
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
342,890
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.6%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN<PAGE>
<PAGE>
SCHEDULE 13D
- ---------------------- -----------------
CUSIP No. 885502104 Page 9 of 15 Pages
- ---------------------- -----------------
=====================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
SC Fundamental Value BVI, Ltd.
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC/OO
- -----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- -----------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
342,890
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
342,890
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
342,890
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.6%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
================================================<PAGE>
<PAGE>
SCHEDULE 13D
- ---------------------- -------------------
CUSIP No. 885502104 Page 10 of 15 Pages
- ---------------------- -------------------
=====================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
SC Fundamental, LLC
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [x]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- -----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -----------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
898,608
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
898,608
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
898,608
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.0%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO<PAGE>
<PAGE> Page 11 of 15 Pages
AMENDMENT NO. 3
TO THE
SCHEDULE 13D
This statement constitutes Amendment No. 3 to the Schedule 13D relating to the
Common Stock, par value $0.01 per share ("Common Stock"), of Thousand Trails
Inc. (the "Issuer") filed by SC Fundamental Inc. ("SC"), The SC Fundamental
Value Fund, L.P. ("Fund"), SC Fundamental Value BVI, Inc. ("BVI Inc."), Gary N.
Siegler ("Siegler"), Peter M. Collery ("Collery"), SC Fundamental, LLC
("SCFLLC"), SC Fundamental Value BVI, Ltd. ("BVI Fund"), SC-BVI Partners and
Neil H. Koffler ("Koffler") (collectively, the "Reporting Person").
Item 5. Interest in Securities of the Issuer
(a) As of the close of business on December 30, 1998, the
Reporting Persons, by virtue of the language of Rule 13d-3(d)(1)(i), may be
deemed to own beneficially in the aggregate the number and percentage of the
Issuer's Common Stock set forth opposite their names below (based upon 7,511,508
Shares that were reported to be outstanding by the Issuer in its September 30,
1998 Form 10-Q).
<PAGE>
<PAGE> Page 12 of 15 Pages
<TABLE>
<CAPTION>
===================================================
Name Shares of Common Stock Percentage
- -----------------------------------------------------------------------------
<S> <C> <C>
SC Fundamental Inc. 898,608 12.0%
- -----------------------------------------------------------------------------
The SC Fundamental
Value Fund, L.P. 898,608 12.0%
- -----------------------------------------------------------------------------
SC Fundamental Value
BVI, Inc. 342,890 4.6%
- -----------------------------------------------------------------------------
Gary N. Siegler 1,241,498 16.5%
- -----------------------------------------------------------------------------
Peter M. Collery 1,241,498 16.5%
- -----------------------------------------------------------------------------
SC-BVI Partners 342,890 4.6%
- -----------------------------------------------------------------------------
The SC Fundamental
Value BVI, Ltd. 342,890 4.6%
- -----------------------------------------------------------------------------
SC Fundamental, LLC 898,608 12.0%
- -----------------------------------------------------------------------------
Neil H. Koffler 1,241,498 16.5%
===================================================
</TABLE>
<PAGE>
<PAGE> Page 13 of 15 Pages
b) Siegler and Collery, by virtue of their status as principal
members of SCFLLC, the general partner of Fund, and as the controlling
stockholders, directors and executive officers of SC, the corporate member
and manager of SCFLLC, may be deemed to share with Fund, SCFLLC and SC the power
to vote or direct the vote and to dispose or to direct the disposition of shares
of Common Stock of which Fund is the direct beneficial owner. Koffler, by
virtue of his status as employee members of SCFLLC, the general partner of
Fund, may be deemed to share with Fund and SCFLLC the power to vote or direct
the vote and to dispose or to direct the disposition of shares of Common Stock
of which Fund is the direct beneficial owner.
Siegler and Collery, by virtue of their status as controlling
stockholders, directors and executive officers of BVI Inc. the managing general
partner of SC-BVI Partners, which is the investment manage of BVI Fund, may
be deemed to share with BVI Inc., SC-BVI Partners and BVI Fund the power to
vote or direct the vote and to dispose or direct the disposition of shares of
Common Stock of which BVI Fund is the direct beneficial owner. Koffler, by
virtue of his status as an officer of BVI, Inc., may be deemed to share with
BVI Fund the power to vote or direct the vote and to dispose or direct the
disposition of shares of Common Stock of which BVI Fund is the direct
beneficial owner. Because BVI Fund and SC-BVI Partners could be deemed to
share with BVI Inc. the power to vote or direct the vote and the power to
dispose or direct the disposition of such shares of Common Stock (and as to
which BVI Inc. exercised such power), BVI Fund and SC-BVI Partners are also
Reporting Persons.
c) The following table sets forth the transactions effected by
each of the Reporting Persons listed in Item 5(a) during the past 60 days.
Unless otherwise noted, each of the transactions set forth below
<PAGE>
<PAGE> Page 14 of 15 Pages
<TABLE>
<CAPTION>
===================================================
BVI, Inc.
Trade Price Per on behalf
Date Share ($) Fund of BVI, Ltd.
- ------------------------------------------------------------------------------
<S> <C> <C> <C>
- ------------------------------------------------------------------------------
12/07/98 5.3125 1,100 900
- ------------------------------------------------------------------------------
12/16/98 4.7500 1,440 560
- ------------------------------------------------------------------------------
12/17/98 4.7500 1,440 560
- ------------------------------------------------------------------------------
12/18/98 4.8750 1,440 560
- ------------------------------------------------------------------------------
12/22/98 4.7500 36,000 14,000
- ------------------------------------------------------------------------------
12/23/98 4.6250 1,440 560
- ------------------------------------------------------------------------------
12/24/98 4.8750 1,800 700
- ------------------------------------------------------------------------------
12/28/98 4.3889 3,240 1,260
===================================================
<PAGE>
<PAGE> Page 15 of 15 Pages
After reasonable inquiry and to the best of our knowledge and
belief, we certify that the information set forth in this statement is true,
complete and correct.
Dated: December 30, 1998
SC FUNDAMENTAL INC. SC Fundamental, LLC
as Manager
/s/ Neil H. Koffler /s/ Neil H. Koffler
By: ---------------------------- By: -----------------------------
Neil H. Koffler as Attorney- Neil H. Koffler as Attorney
in-Fact for Peter M. Collery -in-Fact for Peter M. Collery,
Vice President* Vice President*
THE SC FUNDAMENTAL VALUE FUND, L.P.
By: SC FUNDAMENTAL, LLC SC-BVI Partners
as General Partner By: SC Fundamental Value BVI, Inc.
as Managing General Partner
/s/ Neil H. Koffler /s/ Neil H. Koffler
By: ----------------------------- By: -------------------------------
Neil H. Koffler as Attorney- Neil H. Koffler as Attorney
in-Fact for Peter M. Collery -in-Fact for Peter M. Collery
Vice President* Vice President*
SC FUNDAMENTAL VALUE BVI, INC.
/s/ Neil H. Koffler SC FUNDAMENTAL VALUE BVI, Ltd.
By: ---------------------------- By: SC Fundamental Value BVI, Inc.
Neil H. Koffler as Attorney- as Managing General Partner of
in-Fact for Peter M. Collery Investment Manager
Vice President*
/s/ Neil H. Koffler
- ---------------------------- /s/ Neil H. Koffler
Neil H. Koffler as Attorney- By: -------------------------------
in-Fact for Gary N. Siegler* Neil H. Koffler as Attorney
-in-Fact for Peter M. Collery
Vice President*
/s/ Neil H. Koffler
- ----------------------------- /s/ Neil H. Koffler
Neil H. Koffler -----------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery*
*Executed by Neil H. Koffler as Attorney-In-Fact for Peter M. Collery and
Gary N. Siegler. The Powers of Attorney for Messrs. Collery and Siegler
were filed as Exhibit A to Amendment No. 5 to Schedule 13D relating to US
Facilities Corporation on August 4, 1995 and is hereby incorporated herein by
reference.
</TABLE>
