Year 2000 4th Quarter Buy-outs

Company Symbol We Bought at $ Cash Buyout Price $ by [X] =completed
Fort James FJ 31.5 35.5 Georgia Pacific (not all cash)
X
Lilly Industries LI30.125 31.75 Valspar Corp
X
Masco Tech MSX15.875 17.5 Heartland Indus. Partners (not all cash)
X
IPALCO Enterprises IPL22.5 25 AES Corp.
HSB Corp. HSB40 41 AIG
X at 38.75

Year 2000 2nd and 3rd Quarter Buy-outs

Company Symbol We Bought at $ Cash Buyout Price $ by [X] =completed
Wilmar Indus. WLMR 16.375 18.25 Parthenon Capital
X
Valley Resources VR23 25 Southern Union
X
Dayton Superior DSD25.25 27 Odyssey Inves.
X
Providence Energy PVY39.625 42.5 Southern Union
X
St. Joseph Power & Lt. SAJ20.875 23 Utilicorp United
X
CTG Resources CTG36 41 Energy East
X
TSI, Inc. TSII14.875 15.25 JJF Acquisition
X
Consolidated Papers CDP36 44 Stora Enso Oyj
X
Mirage Resorts & Casinos MIR20 21 MGM Grand
X
MCN Energy MCN25 28.5 DTE Energy
Josten's JOS 24.25 25.25 Investcorp
X
Florida Progress FPC48 54 Carolina Power & Lt.
X
Fin. Security Assurance FSA73.5 76 Dexia
X
Eastern Entp. EFU60.75 64 KeySpan Corp.
X-Sold at 64.125
Elizabethtown Water ETW64.625 68 Thames Water,PLC
X
Amer. Nat'l Can CAN16.625 18 Rexam,PLC
X
Pulaski Furniture PLFC21.875 22.5 by mgt.
X
Playcore PCO9.5 10.10 Chartwell Investmts
X

Year 2000 1st Quarter Cash Tender Offers

Company Symbol We Bought at $ Cash Buyout Price $ by [X] =completed
MidAmerican Energy MEC 33.75 35.05 Berkshire Hathaway
X
Air Express AEIC32.5 33 Deutsche Post
X
Arcadia Financial AAC4.56 4.90 Assoc. First Capital
X
San Jose Water Co. SJW118 128 American Water Works
Foremost Corp. FOM28.375 29.25 Farmers' Insur.
X
Gibson Greetings GIBG9 10.25 Amer. Greetings,(Note Antitrust suit)
X
Indep.Sq. Sec.HY Fund ISIS15.25 16.76 Black Rock Funds,(for n.a.v.)
X
Hannaford Bros. Groc. HRD69.75 79 Dehaize,Food Lion
X
Kroll-O'Gara Co. KROG16.75 18 Blackstone Funds
CANC'LD
Watkins-Johnson WJ40.5 41.125 Precision Castepartes
X
We accept no liablility for this advice,inasmuch as past performance is no guarantee of future results.

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