Jane O. Kosman - Page 34

                                                 - 34 -                                                   

            Valuation                Petitioner's   Respondent's                                          
             Date       Stock         Expert         Experts      Holding                                 
            9/30/86    Scottsbluff   $2,810,133    $4,663,555    $3,278,009                               
                        Natl. Corp.                                                                       
                        Western Natl.     92,000       153,000       120,000                              
            Bank                                                                                          
            3/31/87    Scottsbluff    2,991,447     4,663,555     3,530,454                               
            Natl. Corp.                                                                                   
                        Western Natl.    141,260       153,000       144,000                              
            Bank                                                                                          
                  b.    Value Per Share of Kosman, Inc.'s Voting and Nonvoting                            
                        Common Shares                                                                     
                  Before allowing for discounts, the experts' opinions and our                            
            holding as to the value per share of Kosman, Inc.'s stock on                                  
            September 30, 1986, and March 31, 1987, are as follows:                                       
            Valuation                Petitioner's   Respondent's                                          
             Date         Stock       Expert         Experts      Holding                                 
            9/30/86      Voting &                                                                         
            nonvoting                                                                                     
            common        $172.21        $363.22     $218.80                                              
            3/31/87      Voting &                                                                         
            nonvoting                                                                                     
            common         195.20         363.22      247.17                                              

Page:  Previous  19  20  21  22  23  24  25  26  27  28  29  30  31  32  33  34  35  36  37  38  Next