Laidlaw Transportation, Inc. and Subsidiaries - Page 31

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                             February 29, 1988, Transfers                             
               U.S. Subsidiaries to LIIBV     LIIBV to U.S. Subsidiaries              
               LTI for LWSI   $11,991,976     LWSI         $12,448,000                
               LTI for Transit  6,346,874     Transit           -0-                   
               Tree               539,583     Tree              -0-                   
               Total           18,878,433     Total         12,448,000                
                  Steps for the February 29, 1988, Transfers--Transaction 1           
          1.   On behalf of LWSI, LTI transferred $11,991,976 to LIIBV.               
          2.   On behalf of Transit, LTI transferred $4,591,927 to LIIBV.             
          3.   On behalf of Transit, LTI transferred $1,754,947 to LIIBV              
               Cura�ao.                                                               
          4.   Tree transferred $539,583 to LIIBV.                                    
          5.   LIIBV transferred $10,728,000 to LIIBV Cura�ao.                        
          6.   LIIBV Cura�ao transferred $12,448,000 to LWSI.                         
          7.   LIIBV transferred $2,000,000 to LIL.                                   
          8.   LTI transferred $654,473 to Tree.                                      
          9.   LWSI transferred $12,448,000 to LTI.                                   
                  Steps for the February 29, 1988, Transfers--Transaction 2           
          1.   LTL received $13,000,000 from TDB.                                     
          2.   RBC transferred $63,000,000 to LTL.                                    
          3.   LTL transferred $78,000,000 to LIL.                                    
          4.   LIL transferred $78,000,000 to LIIBV.                                  
          5.   LIIBV transferred $78,000,000 to LWSI.                                 
          6.   LTI transferred $15,096,068 to TDB.                                    
          7.   LTI transferred $63,384,285 to RBC.                                    
          8.   LWSI transferred $78,000,000 to LTI.                                   
                               May 31, 1988, Transfers                                
               U.S. Subsidiaries to         LIIBV and LIIBV Cura�ao                   
               LIIBV and LIIBV Cura�ao       to U.S. Subsidiaries                     
               Tree           $542,499       Tree             -0-                     
               LWSI         15,015,471       LWSI        $21,045,000                  
               Transit     7,534,621       Transit          -0-                       
               Total        23,092,591       Total        21,045,000                  
                        Steps for the May 31, 1988, Transfers                         
          1.   LTI transferred $5,770,188 to Transit.                                 
          2.   LTI transferred $14,677,818 to LWSI.                                   
          3.   Tree transferred $542,499 to LIIBV.                                    
          4.   LWSI transferred $14,677,818 to LIIBV.                                 
          5.   LWSI transferred $337,653 to LIIBV Cura�ao.                            
          6.   Transit transferred $5,770,188 to LIIBV.                               
          7.   Transit transferred $1,764,433 to LIIBV Cura�ao.                       





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