Thomas Richard White and Donna Estes White - Page 4

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               In 1998, Mr. White borrowed $12,321 from his 401(k) account            
          to help finance his oldest daughter’s college education.  The               
          amount borrowed was one-half of the account balance.  The terms             
          of the loan required repayment within 5 years based on level                
          amortization through direct deduction from Mr. White’s paycheck             
          on a semimonthly basis.                                                     
               On September 7, 2000, petitioners filed a voluntary petition           
          in bankruptcy under chapter 13 of the Bankruptcy Code.  Following           
          the meeting of creditors on November 13, 2000, the Bankruptcy               
          Court issued an order, which was entered on the court’s docket on           
          November 14, 2000, confirming the chapter 13 plan and providing             
          notice of a 25-day period within which to object.  An objection             
          filed by one creditor was subsequently withdrawn.  Accordingly,             
          the court’s order became final, pursuant to its terms, upon                 
          expiration of the 25-day period.                                            
               During the initial phase of the bankruptcy proceeding,                 
          Graphic Packaging continued to deduct loan payments from Mr.                
          White’s paychecks.  However, after notification in mid-December             
          2000 by the bankruptcy trustee regarding the finality of the                
          court’s order confirming petitioners’ chapter 13 plan, Graphic              
          Packaging stopped deducting loan payments from Mr. White’s                  
          paychecks.                                                                  









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