<PAGE>
-------------------------------
/ OMB APPROVAL /
-------------------------------
/ OMB Number: 3235-0145 /
/ Expires: October 31, 1994 /
/ Estimated average burden /
/ hours per form ....... 14.90/
-------------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 8)*
STONE & WEBSTER, INC.
________________________________________________________________________________
(Name of Issuer)
COMMON STOCK, PAR VALUE $1.00
________________________________________________________________________________
(Title of Class of Securities)
86157210
_______________________________________________________________
(CUSIP Number)
Frank J. A. Cilluffo
Cilluffo Associates, L.P.
160 Broadway, East Building
New York, New York 10038
________________________________________________________________________________
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
November 20, 1995
_______________________________________________________________
(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 13d-1(b)(3) or (4), check the following box [_].
Check the following box if a fee is being paid with the statement [_]. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose 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>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 86157210 PAGE 2 OF 23 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Cilluffo Associates, L.P.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
WC
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
-0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 1,484,800
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
-0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
1,484,800
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,484,800
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
10.44%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 86157210 PAGE 3 OF 23 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Zenith Associates, L.P.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
WC
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
-0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 105,800
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
-0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
105,800
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
105,800
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
.74%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 86157210 PAGE 4 OF 23 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Frank and Irja Cilluffo Foundation, Inc.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
WC
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
-0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 10,000
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
-0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
10,000
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
10,000
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
.07%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 86157210 PAGE 5 OF 23 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Frank J. A. Cilluffo
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF/00
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
15,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 1,600,600
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
15,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
1,600,600
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,615,600
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
11.36%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 86157210 PAGE 6 OF 23 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Edward C. Meyer (Ret.)
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
00
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
-0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 1,484,800
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
-0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
1,484,800
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,484,800
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
10.44%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION
<PAGE>
AMENDMENT NO. 8 TO SCHEDULE 13D
This amended statement relates to the Common Stock, par value $1.00 per
share (the "Shares"), of Stone & Webster, Inc., a Delaware corporation (the
"Company"). Items 3, 4 and 5 of a statement on Schedule 13D (as previously
amended) filed by Cilluffo Associates, L.P. ("Cilluffo Associates"), Zenith
Associates, L.P. ("Zenith"), Frank and Irja Cilluffo Foundation, Inc. (the
"Foundation"), Frank J. A. Cilluffo and General Edward C. Meyer (Ret.)
(collectively, the "Reporting Persons") are amended as follows:
Item 4. Purpose of Transaction.
----------------------
No change except for the addition of the following:
Cilluffo Associates, by letter dated November 20, 1995, has requested that
the Company include a shareholder proposal in its proxy material for the
Company's 1996 annual meeting. The text of such letter, proposal and statement
in support thereof are filed herewith as Exhibit A.
Page 7 of 23
<PAGE>
Item 5. Interest in Securities of the Issuer.
------------------------------------
(a) and (b)
<TABLE>
<CAPTION>
Number of Shares Percent of
Reporting Person Beneficially Owned Class (1)
- ------------------- --------------------- ----------
<S> <C> <C>
Mr. Cilluffo 1,615,600(2)(3)(4)(5) 11.36%
Gen. Meyer 1,484,800(2)(5) 10.44%
Cilluffo Associates 1,484,800(2)(5) 10.44%
Zenith 105,800(3)(5) .74%
The Foundation 10,000(4)(5) .07%
</TABLE>
(1) Based on the 14,226,750 Shares outstanding as of September 30, 1995 as
reported in the Company's 10-Q for the fiscal quarter ended September 30,
1995.
(2) 1,484,800 Shares are directly owned by Cilluffo Associates. Mr. Cilluffo
and Gen. Meyer, as managing general partners of Cilluffo Associates, are
deemed to share voting and dispositive power over such Shares.
(3) 105,800 Shares are directly owned by Zenith. Mr. Cilluffo, as managing
general partner of Zenith, is deemed to share voting and dispositive power
over such Shares.
(4) 10,000 Shares are directly owned by the Foundation. Mr. Cilluffo, as
President of the Foundation, is deemed to share voting and dispositive
power over such Shares.
(5) Although each of Cilluffo Associates, Zenith, the Foundation and Mr.
Cilluffo could be deemed, by virtue of Rule 13d-5(b)(1) under the
Securities Exchange Act of 1934, as amended (the "Act"), to be the
beneficial owner of the Shares owned by each of the others, each such party
disclaims such beneficial ownership. To the knowledge of the Reporting
Persons, Ms. Cilluffo is not the beneficial owner of Shares.
(c) No transactions in the Shares were effected by any of the
Reporting Persons during the past 60 days.
Page 8 of 23
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
November 21, 1995
CILLUFFO ASSOCIATES, L.P.
By: /s/ Frank J. A. Cilluffo
-----------------------------
Title: Managing General Partner
ZENITH ASSOCIATES, L.P.
By: /s/ Frank J. A. Cilluffo
-----------------------------
Title: Managing General Partner
FRANK AND IRJA CILLUFFO FOUNDATION
By: /s/ Frank J. A. Cilluffo
-----------------------------
Title: President
/s/ Frank J. A. Cilluffo
----------------------------------
Frank J. A. Cilluffo
/s/ Edward C. Meyer
----------------------------------
General Edward C. Meyer (Ret.)
Page 9 of 23
<PAGE>
EXHIBIT A
CILLUFFO ASSOCIATES, L.P.
160 BROADWAY
EAST BUILDING
NEW YORK, NEW YORK 10038
November 20, 1995
VIA EXPRESS MAIL
Stone & Webster, Incorporated
250 West 34th Street
32nd Floor
P.O. Box 1244
New York, New York 10116
Attention: Corporate Secretary
Gentlemen and Ladies:
Cilluffo Associates, L.P. (the "Proponent") hereby submits the following
proposal for the vote of the shareholders of Stone & Webster, Inc. (the
"Corporation") at the Company's 1996 annual meeting of stockholders. Pursuant
to Rule 14a-8 of the regulations under the Securities Exchange Act of 1934, as
amended, the Proponent hereby requests that the Corporation include the
following proposal, and the statement in support thereof included herein, in the
proxy statement to be distributed to the Corporation's stockholders in
connection with such annual meeting.
The Proponent is the beneficial owner of 1,484,800 shares of the
Corporation's Common Stock. The dates upon which such securities were acquired
are set forth on Exhibit 1 hereto. The Proponent intends to continue the
ownership of at least 1% or $1,000 in market value of securities entitled to be
voted at such annual meeting, through the date of such annual meeting.
Reference is made to the Proponent's Schedule 13D dated February 28, 1994, as
most recently amended by Amendment No. 7 thereto dated October 23, 1995,
indicating ownership of the required number of securities for more than one
year.
Very truly yours,
CILLUFFO ASSOCIATES, L.P.
_________________________________
Frank J.A. Cilluffo
Managing General Partner
Enclosure
Page 10 of 23
<PAGE>
SHAREHOLDER PROPOSAL
RESOLVED, that the shareholders hereby request the Board of Directors to cause
the Corporation to sell, distribute or spin-off (1) all the businesses and
assets of the Corporation and its subsidiaries other than its engineering and
construction business and (2) all of the real estate owned by the Corporation
and its subsidiaries, including but not limited to the following:
. A 14 story building with approximately 800,000 square feet of office space
at 245 Summer Street, Boston, Massachusetts.
. An 8 story office building with approximately 140,000 square feet of office
space at 51 Sleeper Street, Boston, Massachusetts.
. A 6 story office building with approximately 450,000 square feet of office
space at 3 Executive Campus, Cherry Hill, New Jersey.
. A 6 story office building with approximately 320,000 square feet of office
space at 1430 Enclave Parkway, Houston, Texas.
. Approximately 290 acres in or near a corporate office and business center
being developed in Tampa, Florida, including 10 buildings comprising
approximately 440,000 square feet of space, an office building with
approximately 130,000 square feet of space, and approximately 240 acres of
developed and vacant land.
. A 33 1/3% interest in a 50 megawatt electrical co-generation plant located
in Binghamton, New York.
. A 94.3% interest in a 200 tons per day paper fiber recycling plant currently
under construction in Auburn, Maine.
. A 10.42% interest in a plant for the production of oriented strand board
currently under construction in Miramichi, New Brunswick, Canada.
. Approximately 17.6 million cubic feet of cold storage plant in two
facilities in Atlanta, Georgia and approximately 3.5 million cubic feet of
cold storage space in a third facility near Rockmart, Georgia. Revenues of
the cold storage business were $20,875,000, and operating income was
$8,089,000 in the twelve months ended September 30, 1995.
SUPPORTING STATEMENT
This proposal is consistent with the suggestions made by Mr. Cilluffo at the
Corporation's shareholders meeting in May 1994.
This strategy should strengthen the focus of the Company on its core business
should benefit both shareholders and employees. It should contribute to the
optimization of the valuation of the Corporation for the benefit of the
shareholders and should encourage the ongoing improvement and growth in its
prestigious engineering and construction business. Employees who own stock
directly or through one or more of the Corporation's employee plans have an
opportunity without the influence of management to express their wishes in this
regard.
Page 11 of 23
<PAGE>
Exhibit 1
DATE ACQUIRED QUANTITY
04/08/93 65400
04/08/93 400
04/23/93 184600
06/11/93 300
06/14/93 1200
06/16/93 1500
06/18/93 52100
06/18/93 1400
06/21/93 500
06/28/93 17000
07/08/93 900
07/08/93 600
07/08/93 1600
07/12/93 4000
07/15/93 2000
07/16/93 5000
07/20/93 5000
07/21/93 4400
07/21/93 1100
08/05/93 600
08/06/93 500
08/06/93 500
08/10/93 1400
08/10/93 600
08/12/93 200
08/16/93 500
08/19/93 1700
Page 12 of 23
<PAGE>
DATE ACQUIRED QUANTITY
08/19/93 1500
08/19/93 400
08/20/93 700
08/20/93 400
08/23/93 600
08/23/95 2000
08/24/93 300
08/24/93 700
08/25/93 500
08/26/93 700
08/26/93 400
08/30/93 2900
08/30/93 2900
08/30/93 1900
08/30/93 2500
08/31/93 7300
09/01/93 1200
09/07/93 5500
09/08/93 1300
09/09/93 1100
09/10/93 800
09/10/93 500
09/13/93 5000
09/21/93 1000
09/22/93 100
09/23/93 1300
09/24/93 400
09/27/93 6900
Page 13 of 23
<PAGE>
DATE ACQUIRED QUANTITY
09/28/93 200
09/28/93 1900
09/28/93 300
09/29/93 1700
10/14/93 3000
10/19/93 1000
10/19/93 1000
10/19/93 600
10/19/93 1500
10/19/93 2900
10/19/93 1600
10/20/93 21300
10/21/93 1200
10/22/93 12000
10/22/93 1300
10/22/93 1000
10/25/93 10000
11/19/93 700
11/22/93 1200
11/23/93 600
11/23/93 3100
11/23/93 1700
11/23/93 5000
11/23/93 5000
11/30/93 500
12/01/93 10600
12/06/93 1200
12/07/93 1900
Page 14 of 23
<PAGE>
DATE ACQUIRED QUANTITY
12/07/93 1100
12/08/93 6800
12/08/93 5000
12/08/93 1000
12/09/93 400
12/09/93 8500
12/09/93 1500
12/13/93 1100
12/13/93 1900
12/14/93 900
12/14/93 1900
12/15/93 500
12/15/93 900
12/16/93 700
12/17/93 1000
12/21/93 10000
12/22/93 1000
12/23/93 700
12/23/93 800
12/27/93 400
12/27/93 5500
12/28/93 1200
12/28/93 1500
12/29/93 500
12/31/93 600
12/31/93 4800
01/03/94 4600
01/04/94 10000
Page 15 of 23
<PAGE>
DATE ACQUIRED QUANTITY
01/05/94 100000
01/06/94 300
01/19/94 1800
01/19/94 1000
01/20/94 900
01/21/94 1300
01/25/94 2100
01/27/94 1000
01/27/94 400
01/27/94 1000
01/28/94 1200
01/28/94 300
01/31/94 200
02/11/94 900
02/14/94 200
02/14/94 1000
02/15/94 1800
02/28/94 32700
02/28/94 2400
03/01/94 12200
03/01/94 27300
03/03/94 200
03/04/94 1400
03/04/94 2800
03/07/94 300
03/07/94 53000
03/07/94 1400
03/09/94 4000
Page 16 of 23
<PAGE>
DATE ACQUIRED QUANTITY
03/10/94 43300
03/10/94 100
03/14/94 4000
03/15/94 7600
03/15/94 4000
03/16/94 400
03/16/94 2400
03/16/94 7600
03/16/94 4000
03/17/94 400
03/28/94 900
03/30/94 2100
03/30/94 400
03/30/94 2000
03/30/94 600
03/31/94 8500
04/05/94 1200
04/05/94 8900
04/06/94 1200
04/07/94 2000
04/07/94 600
04/11/94 500
04/11/94 600
04/12/94 8500
04/12/94 1000
04/13/94 500
04/14/94 1200
04/15/94 1000
Page 17 of 23
<PAGE>
DATE ACQUIRED QUANTITY
04/18/94 2300
04/18/94 1800
04/19/94 1000
04/19/94 1500
04/20/94 500
04/21/94 35000
04/21/94 50300
04/21/94 5000
04/21/94 3700
04/21/94 1000
04/22/94 2000
04/22/94 13800
04/22/94 15000
04/22/94 2100
04/28/94 2300
04/28/94 2200
04/28/94 19200
04/29/94 4000
04/29/94 10000
04/29/94 2800
04/29/94 1400
05/02/94 3700
05/02/94 3000
05/02/94 900
05/03/94 3500
05/04/94 6300
05/05/94 1200
05/11/94 20000
Page 18 of 23
<PAGE>
DATE ACQUIRED QUANTITY
05/12/94 4000
05/13/94 2500
05/17/94 400
05/17/94 2800
05/17/94 7200
05/18/94 400
05/18/94 5500
05/19/94 1700
05/19/94 800
05/20/94 1500
05/23/94 1500
05/23/94 5000
05/26/94 2000
05/27/94 2400
05/27/94 1300
05/31/94 2300
06/03/94 1900
06/06/94 1600
06/09/94 900
06/10/94 1100
06/22/94 4700
06/23/94 1300
06/29/94 5000
07/01/94 1600
07/05/94 4400
07/05/94 2100
07/06/94 2400
07/20/94 600
Page 19 of 23
<PAGE>
DATE ACQUIRED QUANTITY
07/20/94 3400
07/21/94 200
07/22/94 1300
07/26/94 1500
07/26/94 8000
07/27/94 9400
07/27/94 10000
07/27/94 12500
07/29/94 14800
07/29/94 2000
08/01/94 10000
08/02/94 1300
08/03/94 1500
08/04/94 1500
08/05/94 500
08/05/94 1200
08/12/94 1300
08/15/94 700
09/01/94 1300
09/01/94 400
09/02/94 1300
09/02/94 1600
09/06/94 100
09/06/94 1300
09/08/94 1000
09/09/94 2000
09/09/94 1300
09/13/94 400
Page 20 of 23
<PAGE>
DATE ACQUIRED QUANTITY
09/14/94 4500
09/14/94 1400
09/15/94 400
09/16/94 11600
09/19/94 1200
09/19/94 300
09/20/94 2700
09/20/94 700
09/21/94 2800
09/22/94 2300
09/22/94 1100
09/23/94 3900
09/26/94 3300
09/26/95 5000
09/30/94 1000
10/03/94 400
10/04/94 1000
10/05/94 7000
10/06/94 2000
10/10/94 900
10/11/94 300
10/13/94 200
10/19/94 5400
10/24/94 900
10/25/94 1100
10/26/94 200
10/28/94 17000
11/01/94 300
Page 21 of 23
<PAGE>
DATE ACQUIRED QUANTITY
11/02/94 4100
01/27/95 5000
02/02/95 600
02/02/95 400
02/03/95 600
02/06/95 500
02/07/95 200
02/08/95 3000
02/09/95 5000
02/13/95 2800
02/14/95 1500
02/16/95 700
02/17/95 4300
02/23/95 1300
02/24/95 1700
03/02/95 2500
03/07/95 1100
03/08/95 10000
03/09/95 1000
03/13/95 900
03/14/95 4000
03/15/95 1300
03/17/95 1100
03/20/95 600
03/21/95 2000
03/22/95 1500
03/24/95 500
03/24/95 1500
Page 22 of 23
<PAGE>
DATE ACQUIRED QUANTITY
03/27/95 300
03/27/95 200
03/27/95 1500
03/28/95 1500
03/30/95 2400
03/30/95 1100
03/31/95 1500
03/31/95 1000
04/04/95 2700
04/06/95 400
04/07/95 4200
04/10/95 5000
04/11/95 4000
04/11/95 1000
Page 23 of 23
