Payless Cashways, Inc. and Its Subsidiaries - Page 5

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          and vendors for sale in its stores totaling $24,924,968.  This              
          entire amount was purchased from 28 manufacturers and vendors in            
          Taiwan.  Prior to 1994, Payless owned no stores or other                    
          facilities outside the United States.  Before 1994, Payless had             
          no employees located outside the United States, except when                 
          engaged in short-term travel.                                               
               In the 1980's, Payless acquired two companies, Knox Lumber             
          and Somerville Lumber.  Payless ran those companies as separate             
          wholly owned entities with their own boards of directors,                   
          presidents, and operating systems.  Both companies had their own            
          subsidiary headquarters; Knox’s headquarters was in Minnesota,              
          and Somerville’s headquarters was in Massachusetts.  Payless also           
          maintained regional headquarters located in Indianapolis, Dallas,           
          Denver, Phoenix, Houston, and Sacramento.  Each regional                    
          headquarters is managed by a regional vice president.  Each of              
          the subsidiary and regional headquarters reports to Payless’                
          corporate headquarters at Two Pershing Square, which houses                 
          Payless’ top corporate managers and staff.                                  
               Physical construction of the building that houses Payless’             
          corporate headquarters, Two Pershing Square, began on or about              
          October 15, 1984.  At all relevant times, legal title to Two                
          Pershing Square was held by Two Pershing Square, Ltd. (TPS).  TPS           
          was a limited partnership organized on October 15, 1984, under              
          the laws of the State of Missouri pursuant to an agreement                  

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