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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>/in/edgar/work/20000727/0000104169-00-000007/0000104169-00-000007.txt : 20000921
<SEC-HEADER>0000104169-00-000007.hdr.sgml : 20000921
ACCESSION NUMBER:		0000104169-00-000007
CONFORMED SUBMISSION TYPE:	11-K/A
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20000131
FILED AS OF DATE:		20000727

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WAL MART STORES INC
		CENTRAL INDEX KEY:			0000104169
		STANDARD INDUSTRIAL CLASSIFICATION:	 [5331
]		IRS NUMBER:				710415188
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131
</COMPANY-DATA>

		FILING VALUES:
			FORM TYPE:		11-K/A
			SEC ACT:		
			SEC FILE NUMBER:	001-06991
			FILM NUMBER:		679942
</FILING-VALUES>

			BUSINESS ADDRESS:	
				STREET 1:		702 SOUTHWEST 8TH ST
				CITY:			BENTONVILLE
				STATE:			AR
				ZIP:			72716
				BUSINESS PHONE:		5012734000
</BUSINESS-ADDRESS>

				MAIL ADDRESS:	
					STREET 1:		702 SOUTHWEST 8TH STREET
					CITY:			BENTONVILLE
					STATE:			AR
					ZIP:			72716
</MAIL-ADDRESS>
</FILER>
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K/A
<SEQUENCE>1
<FILENAME>0001.htm
<TEXT>

<HTML>

<head>
</head>

<body>
<b>

<p ALIGN="CENTER">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
Washington, D.C. 20549</p>

<p ALIGN="CENTER">FORM 11-K/A</p>

<p ALIGN="JUSTIFY">(Mark One)<br>
[X] Annual Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934 <br>
For the fiscal year ended <u>January 31, 2000.</u></p>
</b>

<p ALIGN="CENTER">or</p>

<p ALIGN="JUSTIFY">[ ] Transition Report Pursuant to Section 15(d) of the Securities
Exchange Act of 1934<br>
For the transition period from ______to______.</p>

<p ALIGN="CENTER">Commission file number <u>1-6991</p>
</u>

<p>A. Full title of the plan and the address of the plan, if different from that of the
issuer named below:</p>

<p ALIGN="CENTER">WAL-MART STORES, INC., 401(k) RETIREMENT SAVINGS PLAN</p>

<p ALIGN="JUSTIFY">B. Name of issuer of the securities held pursuant to the plan and the
address of its principal executive office:</p>

<p ALIGN="CENTER">WAL-MART STORES, INC.<br>
702 Southwest Eighth Street<br>
Bentonville, Arkansas 72716</p>

<p ALIGN="CENTER"><strong>Page 1 of 13</strong></p>
<font FACE="Times" SIZE="4">

<p ALIGN="CENTER">&nbsp;</p>

<p ALIGN="CENTER">Wal-Mart Stores, Inc. 401(k) <br>
Retirement Savings Plan</p>

<p ALIGN="CENTER">Financial Statements and<br>
Supplemental Schedule</p>
</font><font FACE="Times">

<p ALIGN="CENTER">As of January 31, 2000 and 1999, and for the Year ended January 31, 2000</p>

<p ALIGN="CENTER">&nbsp;</p>
</font><font FACE="Times" SIZE="4"><b>

<p ALIGN="CENTER">Contents</p>
</b></font><font FACE="Times">

<p ALIGN="JUSTIFY">Report of Independent Auditors
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3</p>

<p ALIGN="JUSTIFY">Audited Financial Statements</p>

<p ALIGN="JUSTIFY">Statements of Net Assets Available for Benefits
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4<br>
Statement of Changes in Net Assets Available for Benefits
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5<br>
Notes to Financial Statements
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
6-11</p>

<p ALIGN="JUSTIFY">Supplemental Schedule</p>

<p ALIGN="JUSTIFY">Schedule H; Line 4i&#151;Schedule of Assets<br>
Held for Investment Purposes At End of Year
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
12</p>
</font>

<p ALIGN="center"><strong><font FACE="Times">Page 2 of 13</font></strong></p>

<p ALIGN="center">&nbsp;</p>
<font FACE="Times" SIZE="4">

<p ALIGN="CENTER">Report of Independent Auditors</p>
</font>

<p ALIGN="JUSTIFY">The Administrative Committee of the<br>
&nbsp;&nbsp;&nbsp; Wal-Mart Stores, Inc. 401(k) Retirement Savings Plan</p>

<p ALIGN="JUSTIFY">We have audited the accompanying statements of net assets available for
benefits of Wal-Mart Stores, Inc. 401(k) Retirement Savings Plan as of January 31, 2000
and 1999, and the related statement of changes in net assets available for benefits for
the year ended January 31, 2000. These financial statements are the responsibility of the
Plan's management. Our responsibility is to express an opinion on these financial
statements based on our audits.</p>

<p ALIGN="JUSTIFY">We conducted our audits in accordance with auditing standards generally
accepted in the United States. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion. </p>

<p ALIGN="JUSTIFY">In our opinion, the financial statements referred to above present
fairly, in all material respects, the net assets available for benefits of the Plan at
January 31, 2000 and 1999, and the changes in its net assets available for benefits for
the year ended January 31, 2000, in conformity with accounting principles generally
accepted in the United States. </p>

<p ALIGN="JUSTIFY">Our audits were performed for the purpose of forming an opinion on the
financial statements taken as a whole. The accompanying supplemental schedule of assets
held for investment purposes at end of year as of January 31, 2000, is presented for
purpose of additional analysis and is not a required part of the financial statements but
is supplementary information required by the Department of Labor&#146;s Rules and
Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act
of 1974. The supplemental schedule is the responsibility of the Plan&#146;s management.
This supplemental schedule has been subjected to the auditing procedures applied in our
audits of the financial statements and, in our opinion, is fairly stated in all material
respects in relation to the financial statements taken as a whole.</p>

<p ALIGN="JUSTIFY">Tulsa, Oklahoma<br>
June 30, 2000</p>

<p ALIGN="center"><strong>Page 3 of 13</strong></p>

<p ALIGN="center">&nbsp;</p>
<font SIZE="4">

<p ALIGN="CENTER">Wal-Mart Stores, Inc. 401(k) <br>
Retirement Savings Plan</p>

<p ALIGN="CENTER">Statements of Net Assets Available for Benefits</p>
</font>

<p ALIGN="CENTER">&nbsp;</p>
<div align="center"><center>

<table BORDER="1" CELLSPACING="1" CELLPADDING="2">
  <tr>
    <td WIDTH="67%" VALIGN="TOP" height="19"></td>
    <td WIDTH="33%" VALIGN="TOP" COLSPAN="2" height="19"><b><p ALIGN="CENTER">January 31</b></td>
  </tr>
  <tr>
    <td WIDTH="67%" VALIGN="TOP" height="19"></td>
    <td WIDTH="16%" VALIGN="TOP" height="19"><b><p ALIGN="CENTER"><u>2000</u></b></td>
    <td WIDTH="16%" VALIGN="TOP" height="19"><b><p ALIGN="CENTER"><u>1999</u></b></td>
  </tr>
  <tr>
    <td WIDTH="67%" VALIGN="TOP" height="19"></td>
    <td WIDTH="33%" VALIGN="TOP" COLSPAN="2" height="19"><i><p ALIGN="CENTER">(In Thousands)</i></td>
  </tr>
  <tr>
    <td WIDTH="99%" VALIGN="TOP" height="19" colspan="3"><b><p align="left">Assets</b></td>
  </tr>
  <tr>
    <td WIDTH="67%" VALIGN="TOP" height="19">Investments </td>
    <td WIDTH="16%" VALIGN="TOP" align="right" height="19"><b>$ 815,652</b></td>
    <td WIDTH="16%" VALIGN="TOP" align="right" height="19">$414,372</td>
  </tr>
  <tr>
    <td WIDTH="99%" VALIGN="TOP" colspan="3" height="1"></td>
  </tr>
  <tr>
    <td WIDTH="99%" VALIGN="TOP" height="19" colspan="3">Receivables:</td>
  </tr>
  <tr>
    <td WIDTH="67%" VALIGN="TOP" height="19">&nbsp;&nbsp; Company contribution</td>
    <td WIDTH="16%" VALIGN="TOP" align="right" height="19"><b>184,029</b></td>
    <td WIDTH="16%" VALIGN="TOP" align="right" height="19">160,741</td>
  </tr>
  <tr>
    <td WIDTH="67%" VALIGN="TOP" height="19">&nbsp;&nbsp; Associates&#146;contributions</td>
    <td WIDTH="16%" VALIGN="TOP" align="right" height="19"><u><b>5,685</b></u></td>
    <td WIDTH="16%" VALIGN="TOP" align="right" height="19"><u>5,442</u></td>
  </tr>
  <tr>
    <td WIDTH="67%" VALIGN="TOP" height="19">Total receivables</td>
    <td WIDTH="16%" VALIGN="TOP" align="right" height="19"><b>189,714</b></td>
    <td WIDTH="16%" VALIGN="TOP" align="right" height="19">166,183</td>
  </tr>
  <tr>
    <td WIDTH="67%" VALIGN="TOP" height="19">Cash and other</td>
    <td WIDTH="16%" VALIGN="TOP" align="right" height="19"><u><b>1,929</b></u></td>
    <td WIDTH="16%" VALIGN="TOP" align="right" height="19"><u>387</u></td>
  </tr>
  <tr>
    <td WIDTH="67%" VALIGN="TOP" height="19">Net assets available for benefits</td>
    <td WIDTH="16%" VALIGN="TOP" align="right" height="19"><u><b>$1,007,295</b></u></td>
    <td WIDTH="16%" VALIGN="TOP" align="right" height="19"><u>$580,942</u></td>
  </tr>
</TABLE>
</center></div><font FACE="Times">

<p ALIGN="JUSTIFY">&nbsp;</p>
<i>

<p ALIGN="JUSTIFY">See accompanying notes.</p>
</i></font><font SIZE="4">

<p ALIGN="CENTER"><small><strong>Page 4 of 13</strong></small></p>

<p ALIGN="CENTER">&nbsp;</p>

<p ALIGN="CENTER">Wal-Mart Stores, Inc. 401(k) Retirement Savings Plan</p>

<p ALIGN="CENTER">Statement of Changes in Net Assets Available for Benefits </p>
</font>

<p ALIGN="CENTER">Year ended January 31, 2000<br>
(<i>In Thousands</i>)</p>

<p ALIGN="CENTER">&nbsp;</p>
<div align="center"><center>

<table BORDER="1" CELLSPACING="1">
  <tr>
    <td WIDTH="83%" VALIGN="TOP">Additions:</td>
    <td WIDTH="17%" VALIGN="TOP">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="83%" VALIGN="TOP">&nbsp;&nbsp; Associate contributions</td>
    <td WIDTH="17%" VALIGN="TOP" align="right">$ 177,009</td>
  </tr>
  <tr>
    <td VALIGN="top">&nbsp;&nbsp; Company contributions</td>
    <td WIDTH="17%" VALIGN="TOP" align="right">184,374</td>
  </tr>
  <tr>
    <td WIDTH="83%" VALIGN="TOP">&nbsp;&nbsp; Net appreciation in<br>
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; fair value of investments</td>
    <td WIDTH="17%" VALIGN="bottom" align="right">86,365</td>
  </tr>
  <tr>
    <td WIDTH="83%" VALIGN="TOP">&nbsp;&nbsp; Dividend income</td>
    <td WIDTH="17%" VALIGN="TOP" align="right"><u>33,499</u></td>
  </tr>
  <tr>
    <td WIDTH="83%" VALIGN="TOP">Total asset additions</td>
    <td WIDTH="17%" VALIGN="TOP" align="right">481,247</td>
  </tr>
  <tr>
    <td WIDTH="100%" VALIGN="TOP" colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="83%" VALIGN="TOP">Deductions:</td>
    <td WIDTH="17%" VALIGN="TOP" align="right">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="83%" VALIGN="TOP">&nbsp;&nbsp; Benefit payments</td>
    <td WIDTH="17%" VALIGN="TOP" align="right"><u>54,894</u></td>
  </tr>
  <tr>
    <td WIDTH="83%" VALIGN="TOP">Total asset deductions</td>
    <td WIDTH="17%" VALIGN="TOP" align="right">54,894</td>
  </tr>
  <tr>
    <td WIDTH="100%" VALIGN="TOP" colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="83%" VALIGN="TOP">Net increase in net assets available for benefits</td>
    <td WIDTH="17%" VALIGN="TOP" align="right">426,353</td>
  </tr>
  <tr>
    <td WIDTH="83%" VALIGN="TOP">Net assets available for benefits at beginning of year</td>
    <td WIDTH="17%" VALIGN="TOP" align="right"><u>580,942</u></td>
  </tr>
  <tr>
    <td WIDTH="83%" VALIGN="TOP">Net assets available for benefits at end of year</td>
    <td WIDTH="17%" VALIGN="TOP" align="right"><u>$1,007,295</u></td>
  </tr>
</TABLE>
</center></div><i>

<p>See accompanying notes.</p>
</i>

<p ALIGN="center"><strong>Page 5 of 13</strong></p>

<p ALIGN="JUSTIFY">&nbsp;</p>
<font SIZE="4">

<p ALIGN="CENTER">Wal-Mart Stores, Inc.<br>
401(k) Retirement Savings Plan</p>

<p ALIGN="CENTER">Notes to Financial Statements </p>
</font>

<p ALIGN="CENTER">January 31, 2000 and 1999</p>
<b>

<p ALIGN="JUSTIFY">&nbsp;</p>

<p ALIGN="JUSTIFY">1. Description of the Plan</p>
</b>

<p ALIGN="JUSTIFY">The following description of the Wal-Mart Stores, Inc. 401(k)
Retirement Savings Plan (the &quot;Plan&quot;) provides only general information regarding
the Plan as in effect on January&nbsp;31, 2000. This document is not part of the summary
plan description of the Plan and is not a document pursuant to which the Plan is
maintained within the meaning of Section 402(a)(1) of the Employee Retirement Income
Security Act of 1974 (&quot;ERISA&quot;), as amended. Participants should refer to the
Plan document for a complete description of the Plan&#146;s provisions. To the extent not
specifically prohibited by statute or regulation, Wal-Mart Stores, Inc.
(&quot;Wal-Mart&quot; or the &quot;Company&quot;) reserves the right to unilaterally
amend, modify, or terminate the Plan at any time, and such changes may be applied to all
Plan participants and their beneficiaries regardless of whether the participant is
actively working or retired at the time of the change. The Plan may not be amended,
however, to permit any part of the Plan&#146;s assets to be used for any purpose other
than for the purpose of paying benefits to participants and their beneficiaries. All
investment programs of the Plan are fully participant-directed.</p>
<b>

<p ALIGN="JUSTIFY">General</p>
</b>

<p ALIGN="JUSTIFY">The Plan is a defined contribution plan established by the Company on
February 1, 1997. All U.S. associates of the Company who are not covered by a plan of a
related company and have completed at least 1,000 hours of service in a consecutive
12-month period are eligible to participate in the Plan. Participation may begin on the
first day of the month following eligibility. The Plan is subject to the provisions of
ERISA.</p>

<p ALIGN="JUSTIFY">The responsibility for operation and administration of the Plan (except
for investment management and control of assets) is vested in the Plan&#146;s
Administrative Committee of the Company (&quot;Administrative Committee&quot;). </p>

<p ALIGN="JUSTIFY">The trustee function of the Plan is performed by Merrill Lynch Trust
Company of America (&quot;Trustee&quot;). The Trustee receives and holds contributions
made to the Plan in trust and invests those contributions as directed by participants and
according to the policies established by the Administrative Committee. The Trustee makes
payouts from the Plan in accordance with the Plan document. The Trustee is affiliated with
Merrill </p>

<p ALIGN="center"><strong>Page 6 of 13</strong></p>

<p ALIGN="center">&nbsp;</p>
<font SIZE="4">

<p ALIGN="CENTER">Wal-Mart Stores, Inc. <br>
401(k) Retirement Savings Plan</p>

<p ALIGN="CENTER">Notes to Financial Statements (continued)</p>
</font><b>

<p ALIGN="JUSTIFY">1. Description of the Plan (continued)</p>
</b>

<p ALIGN="JUSTIFY">Lynch, Pierce, Fenner &amp; Smith, Inc., the parent corporation of the
Trustee and manager of the Merrill Lynch Equity Index Trust and the Retirement
Preservation Trust, which are investment options offered under the Plan to participants.
Merrill Lynch is also the recordkeeper for the Plan.</p>
<b>

<p ALIGN="JUSTIFY">Contributions</p>
</b>

<p ALIGN="JUSTIFY">All eligible associates participate in the Plan and may elect to
contribute from 1% to 10% of their eligible wages. Whether or not an associate contributes
to the Plan, he or she will receive a portion of the Company&#146;s contribution if they
meet certain eligibility requirements. To be eligible to receive a Company contribution,
the associate must complete at least 1,000 hours of service during the Plan year for which
the contribution is made, and be employed on the last day of that Plan year (January 31).</p>

<p ALIGN="JUSTIFY">At the end of each Plan year, Wal-Mart&#146;s contribution (if any)
will be determined for that Plan year. The Company&#146;s contribution for each associate
will be a percentage of the associate&#146;s eligible wages for the Plan year.
Wal-Mart&#146;s contribution is discretionary and can vary from year to year. </p>
<b>

<p ALIGN="JUSTIFY">Participants&#146; Accounts</p>
</b>

<p ALIGN="JUSTIFY">Each participant&#146;s account is credited with the participant&#146;s
contribution and an allocation of (a) the Company&#146;s contribution to the Plan made on
the associate&#146;s behalf, and (b) an allocation, as defined, of Plan earnings. The
benefit to which a participant is entitled from the Plan is dependent on the amount in the
participant&#146;s account. </p>

<p ALIGN="JUSTIFY">Company contributions to the Plan are invested in accordance with the
investment elections made by each participant for deposit in his or her account.</p>
<font FACE="Times"><b>

<p ALIGN="JUSTIFY">Vesting</p>
</b></font>

<p ALIGN="JUSTIFY">Participants are immediately vested in all contributions to their
accounts, plus actual earnings thereon.</p>
<b>

<p ALIGN="center">Page 7 of 13</p>

<p ALIGN="center">&nbsp;</p>
<font SIZE="4">

<p ALIGN="CENTER"></b>Wal-Mart Stores, Inc. <br>
401(k) Retirement Savings Plan</p>

<p ALIGN="CENTER">Notes to Financial Statements (continued)<b></p>
</font>

<p ALIGN="JUSTIFY">1. Description of the Plan (continued)</p>

<p ALIGN="JUSTIFY">Payment of Benefits and Withdrawals</p>
</b>

<p ALIGN="JUSTIFY">The normal form of payment upon a participant&#146;s separation from
the Company is a lump-sum payment in cash for the balance of the participant&#146;s
account. Participants may also elect to receive a single lump-sum payment in whole shares
of Company stock, with partial or fractional shares paid in cash. To the extent the
participant&#146;s account is not invested in Company stock, the account balance will
automatically be distributed in cash. Participants may also elect to rollover their
account balance into a different tax-qualified retirement plan or individual retirement
account upon separation from the Company. The Plan permits withdrawals of
participants&#146; salary reduction contributions and rollover contributions only in
amounts necessary to satisfy financial hardship as defined by the Internal Revenue Service
(&quot;IRS&quot;).</p>
<b>

<p ALIGN="JUSTIFY">Plan Termination</p>
</b>

<p ALIGN="JUSTIFY">While there is no intention to do so, the Company may discontinue the
Plan by giving written notice, subject to the provisions of ERISA. In the event of a
complete or partial termination of this Plan or a complete discontinuance of contributions
to it, the accounts of the Participants shall be fully and immediately nonforfeitable. The
Trust shall remain in effect (unless it is specifically terminated) and the Trust assets
shall be administered in the manner provided by the terms of the Trust and distributed as
soon as administratively feasible.</p>
<b>

<p ALIGN="JUSTIFY">Investment Options</p>
</b>

<p ALIGN="JUSTIFY">Participant investment choices include a variety of mutual funds,
common collective trusts and Wal-Mart stock. The associate may change their selections at
any time throughout the year. </p>
<b>

<p ALIGN="JUSTIFY">2. Income Tax Status</p>
</b>

<p ALIGN="JUSTIFY">The Plan has received a letter of determination dated November 26,
1997, from the IRS stating that the Plan is qualified under Section 401(k) of the Internal
Revenue Code (&quot;IRC&quot;) and, therefore, the related Trust is exempt from taxation.
Once qualified, the Plan is required to operate in conformity with the IRC to maintain its
qualification. Company </p>

<p ALIGN="center"><strong>Page 8 of 13</strong></p>

<p ALIGN="center">&nbsp;</p>
<font SIZE="4"><b>

<p ALIGN="CENTER"></b>Wal-Mart Stores, Inc. <br>
401(k) Retirement Savings Plan</p>

<p ALIGN="CENTER">Notes to Financial Statements (continued)<b></p>
</font>

<p ALIGN="JUSTIFY">2. Income Tax Status (continued)</p>
</b>

<p ALIGN="JUSTIFY">management believes the Plan is being operated in compliance with the
applicable requirements of the IRC and, therefore, believes that the Plan is qualified and
the related Trust is tax exempt.</p>
<b>

<p ALIGN="JUSTIFY">3. Summary of Accounting Policies</p>
</b>

<p ALIGN="JUSTIFY">The preparation of the financial statements in conformity with
generally accepted accounting principles requires Plan management to use estimates that
affect the amounts reported in the accompanying financial statements and notes. Actual
results could differ from these estimates.</p>

<p ALIGN="JUSTIFY">Shares of registered investment companies are valued at published
prices which represent the net asset values of shares held by the Plan at year end.
Wal-Mart common stock is stated at fair value which equals the quoted market price on the
last business day of the year. Investments in common collective trust funds are stated at
the fair value of the underlying assets determined by the Trustee. Purchases and sales are
recorded on a trade-date basis. Interest income is recorded on the accrual basis.
Dividends are recorded on the ex-dividend date.</p>

<p ALIGN="JUSTIFY">Committee members are appointed by the Company to administer the Plan.
The Company bears all costs associated with administering the Plan, except for minor
administration expenses paid by the Plan.</p>

<p ALIGN="JUSTIFY">Certain prior year amounts have been reclassified to conform to current
year presentation.</p>
<font FACE="Times"><b>

<p ALIGN="JUSTIFY">4. Investments</p>
</b>

<p ALIGN="JUSTIFY">The Trustee holds the Plan&#146;s investments and executes all
investment transactions. All investment information disclosed in the accompanying
financial statements and schedules, including investments held at January 31, 2000 and
1999, and net appreciation in fair value of investments, and dividends for the year ended
January 31, 2000, was obtained or derived from information supplied to the plan
administrator and certified as complete and accurate by the Trustee.</p>
<b>

<p ALIGN="center">Page 9 of 13</p>

<p ALIGN="center">&nbsp;</p>
<font SIZE="4">

<p ALIGN="CENTER"></b>Wal-Mart Stores, Inc. <br>
401(k) Retirement Savings Plan</p>

<p ALIGN="CENTER">Notes to Financial Statements (continued)<b></p>
</font>

<p ALIGN="JUSTIFY">4. Investments (continued)</p>
</b>

<p ALIGN="JUSTIFY">During fiscal year 2000 the Plan&#146;s investments (including
investments purchased, sold as well as held during the year) appreciated in fair value as
determined by quoted market prices as follows:</p>
</font><div align="center"><center>

<table BORDER="1" CELLSPACING="1">
  <tr>
    <td WIDTH="79%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="21%" VALIGN="TOP"><b><p ALIGN="CENTER">Net<br>
    Appreciation<br>
    in Fair <br>
    Value of<br>
    <u>Investments</u></b><br>
    <i>(In Thousands)</i></td>
  </tr>
  <tr>
    <td WIDTH="100%" VALIGN="TOP" colspan="2">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="79%" VALIGN="TOP"><p ALIGN="JUSTIFY">Common Stock</td>
    <td WIDTH="21%" VALIGN="TOP" align="right">$23,597</td>
  </tr>
  <tr>
    <td WIDTH="79%" VALIGN="TOP"><p ALIGN="JUSTIFY">Mutual Funds</td>
    <td WIDTH="21%" VALIGN="TOP" align="right">52,526</td>
  </tr>
  <tr>
    <td WIDTH="79%" VALIGN="TOP"><p ALIGN="JUSTIFY">Common Collective Trust</td>
    <td WIDTH="21%" VALIGN="TOP" align="right"><u>10,242</u></td>
  </tr>
  <tr>
    <td WIDTH="79%" VALIGN="TOP"><p ALIGN="JUSTIFY">Total</td>
    <td WIDTH="21%" VALIGN="TOP" align="right"><u>$86,365</u></td>
  </tr>
</TABLE>
</center></div><font FACE="Times">

<p ALIGN="JUSTIFY">The fair value of individual investments that represent 5% or more of
the Plan&#146;s net assets are as follows:</p>
</font><div align="center"><center>

<table BORDER="1" CELLSPACING="1">
  <tr>
    <td WIDTH="60%" VALIGN="TOP" rowspan="3">&nbsp;</td>
    <td WIDTH="40%" VALIGN="TOP" COLSPAN="2"><b><p ALIGN="CENTER">January 31</b></td>
  </tr>
  <tr>
    <td WIDTH="20%" VALIGN="TOP"><b><p ALIGN="CENTER"><u>2000</u></b></td>
    <td WIDTH="20%" VALIGN="TOP"><b><p ALIGN="CENTER"><u>1999</u></b></td>
  </tr>
  <tr>
    <td WIDTH="40%" VALIGN="TOP" COLSPAN="2"><i><p ALIGN="CENTER">(In Thousands)</i></td>
  </tr>
  <tr>
    <td WIDTH="100%" VALIGN="TOP" colspan="3">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP"><p ALIGN="JUSTIFY">Wal-Mart Stores, Inc. Common Stock</td>
    <td WIDTH="20%" VALIGN="TOP" align="right"><b><p ALIGN="right">$147,214</b></td>
    <td WIDTH="20%" VALIGN="TOP" align="right"><p ALIGN="right">$58,426</td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP"><p ALIGN="JUSTIFY">Merrill Lynch Retirement Preservation Fund</td>
    <td WIDTH="20%" VALIGN="TOP" align="right"><b><p ALIGN="right">205,191</b></td>
    <td WIDTH="20%" VALIGN="TOP" align="right"><p ALIGN="right">96,944</td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP"><p ALIGN="JUSTIFY">Merrill Lynch Equity Index Fund</td>
    <td WIDTH="20%" VALIGN="TOP" align="right"><b><p ALIGN="right">158,649</b></td>
    <td WIDTH="20%" VALIGN="TOP" align="right"><p ALIGN="right">79,359</td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP"><p ALIGN="JUSTIFY">PIMCO Total Return Fund</td>
    <td WIDTH="20%" VALIGN="TOP" align="right"><b><p ALIGN="right">77,165</b></td>
    <td WIDTH="20%" VALIGN="TOP" align="right"><p ALIGN="right">42,798</td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP"><p ALIGN="JUSTIFY">Ivy International Fund</td>
    <td WIDTH="20%" VALIGN="TOP" align="right"><b><p ALIGN="right">73,436</b></td>
    <td WIDTH="20%" VALIGN="TOP" align="right"><p ALIGN="right">58,618</td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP"><p ALIGN="JUSTIFY">Putnam New Opportunities Fund</td>
    <td WIDTH="20%" VALIGN="TOP" align="right"><b><p ALIGN="right">153,997</b></td>
    <td WIDTH="20%" VALIGN="TOP" align="right"><p ALIGN="right">78,227</td>
  </tr>
</TABLE>
</center></div><b>

<p ALIGN="center">Page 10 of 13</p>
<font SIZE="4">

<p ALIGN="CENTER"></b>&nbsp;</p>

<p ALIGN="CENTER">Wal-Mart Stores, Inc. <br>
401(k) Retirement Savings Plan</p>

<p ALIGN="CENTER">Notes to Financial Statements (continued)</p>
</font>

<p ALIGN="JUSTIFY"><b>5. Differences Between Financial Statements and Form 5500</p>
</b>

<p ALIGN="JUSTIFY">The following is a reconciliation of net assets available for benefits
per the financial statements to Form 5500:</p>
<div align="center"><center>

<table BORDER="1" CELLSPACING="1">
  <tr>
    <td WIDTH="60%" VALIGN="TOP" rowspan="3">&nbsp;</td>
    <td WIDTH="40%" VALIGN="TOP" COLSPAN="2"><b><p ALIGN="CENTER">January 31</b></td>
  </tr>
  <tr>
    <td WIDTH="20%" VALIGN="TOP"><b><p ALIGN="CENTER"><u>2000</u></b></td>
    <td WIDTH="20%" VALIGN="TOP"><b><p ALIGN="CENTER"><u>1999</u></b></td>
  </tr>
  <tr>
    <td WIDTH="40%" VALIGN="TOP" COLSPAN="2"><i><p ALIGN="CENTER">(In Thousands)</i></td>
  </tr>
  <tr>
    <td WIDTH="100%" VALIGN="TOP" colspan="3">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">Net assets available for benefits <br>
    &nbsp;&nbsp; per the financial statements</td>
    <td WIDTH="20%" VALIGN="bottom"><b><p ALIGN="right">$1,007,295</b></td>
    <td WIDTH="20%" VALIGN="bottom"><p ALIGN="right">$580,942</td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">Amounts allocated to<br>
    &nbsp;&nbsp; withdrawing participants</td>
    <td WIDTH="20%" VALIGN="bottom" align="right"><b><p ALIGN="right">(<u>26,521)</u></b></td>
    <td WIDTH="20%" VALIGN="bottom" align="right"><p ALIGN="right"><u>(4,060)</u></td>
  </tr>
  <tr>
    <td WIDTH="60%" VALIGN="TOP">Net assets available for benefits<br>
    &nbsp;&nbsp; per the form 5500</td>
    <td WIDTH="20%" VALIGN="bottom"><b><p ALIGN="right"><u>$ 980,774</u></b></td>
    <td WIDTH="20%" VALIGN="bottom"><p ALIGN="right"><u>$576,882</u></td>
  </tr>
</TABLE>
</center></div>

<p ALIGN="JUSTIFY">The following is a reconciliation of benefit payments to participants
per the financial statements to the Form 5500:</p>
<div align="center"><center>

<table BORDER="1" CELLSPACING="1">
  <tr>
    <td WIDTH="78%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="22%" VALIGN="TOP"><i><p ALIGN="CENTER">(In Thousands)</i></td>
  </tr>
  <tr>
    <td WIDTH="78%" VALIGN="TOP">Benefit payments per the financial statements</td>
    <td WIDTH="22%" VALIGN="bottom"><p ALIGN="right">$54,894</td>
  </tr>
  <tr>
    <td WIDTH="78%" VALIGN="TOP">Add: Amounts allocated to withdrawing<br>
    &nbsp;&nbsp; participants at January 31, 2000</td>
    <td WIDTH="22%" VALIGN="bottom"><p ALIGN="right">26,521</td>
  </tr>
  <tr>
    <td WIDTH="78%" VALIGN="TOP">Less: Amounts allocated on Form 5500 to<br>
    &nbsp;&nbsp; withdrawn participants at beginning of year</td>
    <td WIDTH="22%" VALIGN="bottom"><p ALIGN="right"><u>(4,060)</u></td>
  </tr>
  <tr>
    <td WIDTH="78%" VALIGN="TOP">Benefit payments per the Form 5500</td>
    <td WIDTH="22%" VALIGN="bottom"><p ALIGN="right"><strong><u>$77,355</u></strong></td>
  </tr>
</TABLE>
</center></div>

<p ALIGN="JUSTIFY">Amounts allocated to withdrawing participants are recorded in the Form
5500 for benefit claims that have been processed and approved for payment prior to January
31, 2000, but not yet paid as of that date.</p>

<p ALIGN="center"><strong>Pge 11 of 13</strong></p>

<p ALIGN="center">&nbsp;</p>
<font SIZE="5">

<p ALIGN="CENTER">Supplemental Schedules</p>
</font><font SIZE="4">

<p ALIGN="CENTER">Wal-Mart Stores, Inc. <br>
401(k) Retirement Savings Plan</p>

<p ALIGN="CENTER">EIN#: 71-0415188<br>
Plan#: 003</p>

<p ALIGN="CENTER">Schedule H Line 4i&#151;Schedule of Assets Held <br>
for Investment Purposes At End of Year</p>
</font>

<p ALIGN="CENTER">January 31, 2000</p>

<p ALIGN="JUSTIFY">&nbsp;</p>
<div align="center"><center>

<table BORDER="1" CELLSPACING="1">
  <tr>
    <td WIDTH="7%" VALIGN="TOP"><b>&nbsp;<p ALIGN="CENTER"><u>(a)</u></b></td>
    <td WIDTH="76%" VALIGN="TOP"><b><p ALIGN="CENTER"><br>
    (b) (c)<br>
    <u>Identity of Issue, Borrower, Lessor, or Similar Party</u></b></td>
    <td WIDTH="17%" VALIGN="TOP"><b><p ALIGN="CENTER">(e)<br>
    Current<br>
    <u>Value</u></b></td>
  </tr>
  <tr>
    <td WIDTH="100%" VALIGN="TOP" colspan="3" align="right"><i><p ALIGN="right">(In Thousands)</i></td>
  </tr>
  <tr>
    <td WIDTH="100%" VALIGN="TOP" colspan="3">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="TOP"><b><p ALIGN="CENTER">*</b></td>
    <td WIDTH="76%" VALIGN="TOP">Wal-Mart Stores, Inc. common stock</td>
    <td WIDTH="17%" VALIGN="TOP"><p align="right">$147,214</td>
  </tr>
  <tr>
    <td WIDTH="100%" VALIGN="TOP" colspan="3">&nbsp;</td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="TOP"><b><p ALIGN="CENTER">*</b></td>
    <td WIDTH="76%" VALIGN="TOP">Merrill Lynch Equity Index Fund</td>
    <td WIDTH="17%" VALIGN="TOP" align="right">158,649</td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="TOP"><b><p ALIGN="CENTER">*</b></td>
    <td WIDTH="76%" VALIGN="TOP">Merrill Lynch Retirement Preservation Fund</td>
    <td WIDTH="17%" VALIGN="TOP" align="right">205,191</td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="76%" VALIGN="TOP">PIMCO Total Return Fund</td>
    <td WIDTH="17%" VALIGN="TOP" align="right">77,165</td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="76%" VALIGN="TOP">Ivy International Fund</td>
    <td WIDTH="17%" VALIGN="TOP" align="right">73,436</td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="76%" VALIGN="TOP">Putnam New Opportunities Fund</td>
    <td WIDTH="17%" VALIGN="TOP" align="right"><u>153,997</u></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="TOP">&nbsp;</td>
    <td WIDTH="76%" VALIGN="TOP">Total investments</td>
    <td WIDTH="17%" VALIGN="TOP" align="right"><u>$815,652</u></td>
  </tr>
</TABLE>
</center></div>

<blockquote>
  <font FACE="Times"><p ALIGN="JUSTIFY">* Party-in-interest</p>
  </font>
</blockquote>
<font FACE="Times">

<blockquote>
  <p ALIGN="JUSTIFY">Note: Column (d) is not applicable for participant directed
  investments.</p>
  <blockquote>
    <p ALIGN="center"><strong>Page 12 of 13</strong></p>
  </blockquote>
</blockquote>

<p ALIGN="CENTER">&nbsp;</p>
<b>

<p ALIGN="CENTER">SIGNATURES</p>
</b>

<p ALIGN="JUSTIFY">The Plan. Pursuant to the requirements of the Securities and Exchange
Act of 1934, the trustees (or other persons who administer the employee benefit plan) have
duly caused this annual report to be signed on its behalf by the undersigned hereunto duly
authorized.</p>

<blockquote>
  <blockquote>
    <blockquote>
      <blockquote>
        <blockquote>
          <p ALIGN="JUSTIFY">WAL-MART STORES, INC.,<br>
          401(k) RETIREMENT SAVINGS PLAN</p>
        </blockquote>
      </blockquote>
    </blockquote>
  </blockquote>
</blockquote>

<p ALIGN="JUSTIFY">Date: July 27, 2000
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>/s/ Debbie Davis-Campbell<br>
</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Debbie Davis-Campbell<u></p>
</u>

<p ALIGN="JUSTIFY">&nbsp;</p>

<p ALIGN="center"><strong>Page 13 of 13</strong></p>
</font>
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</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23
<SEQUENCE>2
<FILENAME>0002.htm
<TEXT>

<HTML>

<head>
</head>

<body>
<font SIZE="4">

<p ALIGN="CENTER">Consent of Independent Auditors</p>
</font>

<p ALIGN="JUSTIFY">&nbsp;</p>

<p ALIGN="JUSTIFY">We consent to the incorporation by reference in the Registration
Statement (Form S-8 No.&nbsp;333-29847) pertaining to the Wal-Mart Stores, Inc. 401(k)
Retirement Savings Plan of our report dated June 30, 2000, with respect to the financial
statements and schedule of the Wal-Mart Stores, Inc. 401(k) Retirement Savings Plan
included in the Annual Report (Form 11-K) for the year ended January 31, 2000.</p>
<u>

<p></u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&
<u>/s/ Ernst &amp; Young LLP<br>
</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbs
</u>

<p ALIGN="JUSTIFY">&nbsp;</p>

<p ALIGN="JUSTIFY">Tulsa, Oklahoma<br>
July 25, 2000</p>
</body>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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