Theodore A. Andros and Joan B. Andros - Page 60

                                        -60-                                          
                                     APPENDIX B                                       
             TANDRILL'S 1979 PURCHASES OF PUT OPTION POSITIONS THROUGH                
             ARBITRAGE MANAGEMENT AND THE CORRESPONDING SALES OF SUCH                 
                                      POSITIONS                                       
               In all of the transactions below, the expiration date for the          
         option was March 26, 1980, and the expiration date of the underlying         
         Treasury bill was June 24, 1980.                                             
         Purchases                                 Sales                              
         Date    No.    Yield           Cost        Date        No.        Proceeds   
         10/30   25   97.16      $1,464,975  11/20      13       $632,476             
                                             11/21      10       488,170              
                                             11/23      2          96,562             
         11/20   13   97.08         629,408                                           
         11/21   10   97.08         485,470                                           
         11/23   2    97.08         96,162   10/30      25       1,454,325            
         10/31   24   97.16      1,389,744   11/19      24       1,191,360            
         11/19   24   97.08      1,185,192   10/31      24       1,380,192            

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