Robert John Kayian, Transferee - Page 19

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          Tampa after he had been hospitalized.  Ms. Livingston subse-                
          quently sold that watch.                                                    
               At a time not disclosed by the record after the initial                
          transfer by Mr. Kayian, Sr. to Mr. Kayian, Jr., Mr. Kayian, Jr.             
          contacted the issuer of the Aruba bonds about liquidating them.             
          However, that issuer declined to do so at that time.  Instead, it           
          made monthly payments to Mr. Kayian, Jr. with respect to the                
          Aruba bonds over approximately five to seven months until those             
          bonds were paid in full.                                                    
               On October 21, 1993, Jackson National and Continental filed            
          an interpleader action (interpleader action) in the U.S. District           
          Court for the Middle District of Florida, Tampa Division (U.S.              
          District Court), to determine the person or persons entitled to             
          the proceeds of the Jackson National annuity contract, the                  
          Continental annuity contract, and the Continental group life                
          insurance policy.  In September 1995, in a joint stipulation for            
          entry of judgment and dismissal with respect to the interpleader            
          action (settlement stipulation), Ms. Livingston, individually and           
          as personal representative of Mr. Kayian, Sr.'s estate, withdrew            
          all claims against Mr. Kayian, Jr. and Mr. Kayian, Sr.'s three              
          grandchildren regarding those contracts.  In an order dated                 
          September 13, 1995, the U.S. District Court directed release of             
          the interpled funds and ratified the settlement stipulation.                

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