Allen C. Chamberlin and Martha L. Chamberlin - Page 6

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          these positions.  The Chamberlin Corp. purchased the inventory,             
          intangible property, personal property, and equipment of                    
          Pharmacare from the trustee in bankruptcy for $200,000 and then             
          immediately transferred ownership to petitioner.  On                        
          September 18, 1981, in a three-party agreement, petitioner                  
          purchased the Largo facility from the Pharmacare trustee in                 
          bankruptcy by giving The Chamberlin Corp. a $183,800 promissory             
          note and assuming $572,046 of debt secured by the property.  The            
          Chamberlin Corp. then paid $177,954 of Pharmacare debt on behalf            
          of the trustee and $4,077 of transfer expenses.  Petitioner                 
          rented the Largo facility back to The Chamberlin Corp. from 1981            
          until 1984.                                                                 
               On November 3, 1982, petitioner obtained a personal loan               
          from the Freedom Federal Savings & Loan Association (Freedom                
          Federal) in the amount of $1,750,000.  This loan was secured by a           
          first mortgage on the principal residence of petitioners in                 
          Greenwich, Connecticut.  Four hundred fifty thousand dollars of             
          the loan proceeds was then reloaned by petitioner to The                    
          Chamberlin Corp. and used to pay off debts of The Chamberlin                
          Corp.  The Chamberlin Corp. also obtained loans from the                    
          Ingersoll-Rand Financial Corporation (Ingersoll-Rand) in the                
          amount of $1,800,000, personally guaranteed by petitioner, and              
          loans in the amounts of $750,000 and $250,000, secured by second            

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