Investment Research Associates - Page 42

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          9/1/81 Through 8/31/83                                                      
               Between August 31, 1981, and August 31, 1983, Holding Co.              
          acquired 100 percent of the voting shares of Columbus Projects,             
          Inc. (Columbus), PPPD, Inc. (PPPD), and PPPI, Inc. (PPPI).  In              
          1981 Frey began making payments to Zion, and in 1982 Essex began            
          making payments to Holding Co.                                              

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