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<SEC-DOCUMENT>0000017843-02-000017.txt : 20020620
<SEC-HEADER>0000017843-02-000017.hdr.sgml : 20020620
<ACCEPTANCE-DATETIME>20020620153250
ACCESSION NUMBER:		0000017843-02-000017
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20011231
FILED AS OF DATE:		20020620

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CARPENTER TECHNOLOGY CORP
		CENTRAL INDEX KEY:			0000017843
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL WORKS, BLAST FURNACES  ROLLING MILLS (COKE OVENS) [3312]
		IRS NUMBER:				230458500
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05828
		FILM NUMBER:		02683236

	BUSINESS ADDRESS:	
		STREET 1:		1047 N PARK ROAD
		CITY:			WYOMISSING
		STATE:			PA
		ZIP:			19610-1339
		BUSINESS PHONE:		6102082000

	MAIL ADDRESS:	
		STREET 1:		1047 N PARK ROAD
		CITY:			WYOMISSING
		STATE:			PA
		ZIP:			19610
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>spa11k.htm
<DESCRIPTION>SAVINGS PLAN FOR AFFILIATES
<TEXT>
<html>

<head>

<title>Carpenter Technology Corporation 01 SPA 11-K</title>
</head>

<body>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p align="center"><font face="Arial"><b>Form 11-K</b></font></p>

<p align="center">&nbsp;</p>

<p align="center"><font face="Arial"><b>SECURITIES AND EXCHANGE COMMISSION<br>
Washington, D.C. 20549</b></font></p>

<p>&nbsp;</p>

<p align="center"><font face="Arial">ANNUAL REPORT</font></p>

<p align="center">&nbsp;</p>

<p align="center"><font face="Arial">Pursuant to Section 15(d) of the<br>
Securities Exchange Act of 1934</font></p>

<p align="center">&nbsp;</p>

<p align="center">&nbsp;</p>

<p align="center"><font face="Arial">For the year ended December 31, 2001</font></p>

<p align="center">&nbsp;</p>

<p align="center"><font face="Arial">Commission File Number 1-5828</font></p>

<p align="center">&nbsp;</p>

<p align="center"><font face="Arial">THE SAVINGS PLAN<br>
FOR AFFILIATES<br>
(Full title of the plan)</font></p>

<p align="center">&nbsp;</p>

<p align="center"><font face="Arial">CARPENTER TECHNOLOGY CORPORATION<br>
(Name of issuer of the securities held<br>
pursuant to the plan)</font></p>

<p align="center">&nbsp;</p>

<p align="center"><font face="Arial">1047 N. Park Rd.<br>
Wyomissing, Pennsylvania 19610-1339<br>
(Address of principal executive<br>
office of the issuer)</font></p>

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

<table border="1" width="677">
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:@">
    <td ALIGN="center" COLSPAN="4" width="671" bordercolor="#FFFFFF"><font face="Arial">SIGNATURES</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="65" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="160" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="66" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="362" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="left" colspan="4" width="671" bordercolor="#FFFFFF"><font face="Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
    to the requirements of the Securities Exchange Act of 1934, <br>
    Carpenter Technology Corporation has duly caused this annual report to be<br>
    signed on its behalf by the undersigned thereunto duly authorized.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="65" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="160" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="66" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="362" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="65" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="160" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="66" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" width="362" rowspan="2" bordercolor="#FFFFFF"><font face="Arial">THE
    SAVINGS PLAN FOR AFFILIATES<br>
    (Name of Plan)</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="65" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="160" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="66" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="65" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="160" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="66" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="362" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="65" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="160" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="66" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="362" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="65" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="160" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="66" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="362" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="225" colspan="2" bordercolor="#FFFFFF"><font face="Arial">Date<u>&nbsp;&nbsp;&nbsp;June
    20, 2002&nbsp;&nbsp;&nbsp;&nbsp;</u></font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="66" bordercolor="#FFFFFF"><font face="Arial">By </font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:@" width="362" rowspan="4"
    bordercolor="#FFFFFF" valign="top"><font face="Arial"><u>/s/ Terrence E. Geremski
    &nbsp;&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><br>
    Terrence E. Geremski<br>
    Senior Vice President - Finance and<br>
    Chief Financial Officer</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="65" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="160" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="66" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="65" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="160" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="66" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="65" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="160" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="66" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
</table>
</center></div><div align="center"><center>

<table border="1" width="585">
  <tr>
    <td ALIGN="left" colspan="3" width="579" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="left" colspan="3" width="579" bordercolor="#FFFFFF"><font face="Arial" size="3"><u>Financial
    Statements and Exhibits</u></font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="23" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="31" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="513" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="left" width="23" bordercolor="#FFFFFF"><font face="Arial" size="3">(a)</font></td>
    <td ALIGN="left" colspan="2" width="550" bordercolor="#FFFFFF"><font face="Arial" size="3">Financial
    Statements</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="23" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="31" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="513" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="23" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" colspan="2" rowspan="2" width="550" bordercolor="#FFFFFF"><font
    face="Arial" size="3">The financial statements filed as part of this report are listed in<br>
    the Index to Financial Statements included herein.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="23" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="23" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="31" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="513" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="left" width="23" bordercolor="#FFFFFF"><font face="Arial" size="3">(b)</font></td>
    <td ALIGN="left" width="544" colspan="2" bordercolor="#FFFFFF"><font face="Arial" size="3">Exhibits</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="23" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="31" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="513" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="23" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:@" width="31" bordercolor="#FFFFFF"><font
    face="Arial" size="3">(1)</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="513" bordercolor="#FFFFFF"><font face="Arial" size="3">Consent of Independent
    Accountants</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="23" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="31" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="513" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
</table>
</center></div><div align="center"><center>

<table border="1" width="649">
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:0.00E+00">
    <td ALIGN="center" COLSPAN="3" width="643" bordercolor="#FFFFFF"><strong><font
    face="Arial" size="3"><b>THE SAVINGS PLAN FOR AFFILIATES<br>
    INDEX TO FINANCIAL STATEMENTS<br>
    </b></font></strong><p><strong><font face="Arial" size="3"><b>FORM 11-K ANNUAL REPORT</b></font></strong></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:0.00E+00">
    <td ALIGN="center" COLSPAN="3" width="643" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="535" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="6" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" width="90" bordercolor="#FFFFFF" rowspan="2"><font face="Arial"
    size="3">Form 11-K<br>
    <u>Pages</u></font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="535" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="6" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="535" bordercolor="#FFFFFF"><font face="Arial" size="3">Report of Independent
    Accountants</font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="6" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="90" bordercolor="#FFFFFF"><font
    face="Arial" size="3">5</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="535" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="6" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="90" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="535" bordercolor="#FFFFFF"><font face="Arial" size="3">Financial Statements:</font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="6" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="90" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="535" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="6" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="90" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    rowspan="2" width="535" bordercolor="#FFFFFF"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Statements
    of Net Assets Available for Benefits as of <br>
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;December 31, 2001 and 2000</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="6" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="90" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="6" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="90" bordercolor="#FFFFFF"><font
    face="Arial" size="3">6</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="535" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="6" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="90" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    rowspan="2" width="535" bordercolor="#FFFFFF"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Statements
    of Changes in Net Assets Available for Benefits<br>
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for the years ended December 31, 2001 and 2000</font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="6" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="90" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="6" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="90" bordercolor="#FFFFFF"><font
    face="Arial" size="3">7</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="535" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="6" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="90" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="535" bordercolor="#FFFFFF"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes
    to Financial Statements</font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="6" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="90" bordercolor="#FFFFFF"><font
    face="Arial" size="3">8-12</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="535" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="6" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="90" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="535" bordercolor="#FFFFFF"><font face="Arial" size="3">Supplemental Schedule:</font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="6" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="90" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="535" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="6" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="90" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="535" bordercolor="#FFFFFF"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schedule
    of Assets (Held at End of Year)</font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="6" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="90" bordercolor="#FFFFFF"><font
    face="Arial" size="3">13</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="left" width="535" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="6" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="90" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="535" bordercolor="#FFFFFF"><font face="Arial" size="3">Consent of Independent
    Accountants</font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="6" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="90" bordercolor="#FFFFFF"><font
    face="Arial" size="3">14</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="535" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="6" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="90" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
</table>
</center></div><div align="center"><center>

<table border="1" width="647">
  <tr ALIGN="center" VALIGN="bottom"
  STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td bordercolor="#FFFFFF" width="641" align="center"><strong><font face="Arial" size="3"><u>Report
    of Independent Accountants</u></font></strong></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF" width="641">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF" width="641">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="left" bordercolor="#FFFFFF" width="641"><strong><font face="Arial" size="3">To
    the Participants and Administrator of the Savings Plan for Affiliates:</font></strong></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF" width="641">&nbsp;</td>
  </tr>
  <tr ALIGN="left" VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:@">
    <td bordercolor="#FFFFFF" width="641"><font face="Arial" size="3">In our opinion, the
    accompanying statements of net assets available for <br>
    benefits and the related statements of changes in net assets available <br>
    for benefits present fairly, in all material respects, the net assets available <br>
    for benefits of the Savings Plan for Affiliates (the&quot;Plan&quot;) at December 31, <br>
    2001 and 2000, and the changes in net assets available for benefits for the <br>
    years then ended in conformity with accounting principles generally accepted <br>
    in the United States of America. These financial statements are the <br>
    responsibility of the Plan's management; our responsibility is to express an <br>
    opinion on these financial statements based on our audits. We conducted <br>
    our audits of these statements in accordance with auditing standards <br>
    generally accepted in the United States of America, which require that we <br>
    plan and perform the audit to obtain reasonable assurance about whether <br>
    the financial statements are free of material misstatement. An audit includes <br>
    examining, on a test basis, evidence supporting the amounts and disclosures <br>
    in the financial statements, assessing the accounting principles used and<br>
    significant estimates made by management, and evaluating the overall financial <br>
    statement presentation. We believe that our audits provide a reasonable basis <br>
    for our opinion.<br>
    </font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:@">
    <td ALIGN="left" bordercolor="#FFFFFF" width="641"><font face="Arial" size="3">Our audits
    were conducted for the purpose of forming an opinion on the <br>
    basic financial statements taken as a whole. The supplemental Schedule <br>
    of Assets (Held at End of&nbsp; Year) is presented for the purpose of additional <br>
    analysis and is not a required part of the basic financial statements but is <br>
    supplementary information required by the Department of Labor's Rules <br>
    and Regulations for Reporting and Disclosure under the Employee Retirement <br>
    Income Security Act of 1974. These supplemental schedules are the<br>
    responsibility of the Plan's management. The supplemental schedules have <br>
    been subjected to the auditing procedures applied in the audits of the basic <br>
    financial statements and, in our opinion, are fairly stated in all material <br>
    respects in relation to the basic financial statements taken as a whole.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:@">
    <td ALIGN="right" bordercolor="#FFFFFF" width="641">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:@">
    <td ALIGN="right" bordercolor="#FFFFFF" width="641">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="left" bordercolor="#FFFFFF" width="641"><font face="Arial" size="3">PricewaterhouseCoopers
    LLP<br>
    Philadelphia, PA<br>
    May 17, 2002</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:@">
    <td ALIGN="right" bordercolor="#FFFFFF" width="641">&nbsp;</td>
  </tr>
</table>
</center></div><div align="center"><center>

<table border="1">
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="center" COLSPAN="4" bordercolor="#FFFFFF"><font SIZE="+1" face="Arial"><b>THE
    SAVINGS PLAN FOR AFFILIATES</b></font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="center" COLSPAN="4" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="center" COLSPAN="4" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="center" COLSPAN="4"
    STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)" bordercolor="#FFFFFF"><font
    SIZE="+1" face="Arial"><b>STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS</b></font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="center" COLSPAN="4" bordercolor="#FFFFFF"><font face="Arial" size="3">as of
    December 31, 2001 and 2000</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="center" COLSPAN="4" STYLE="vnd.ms-excel.numberformat:@" bordercolor="#FFFFFF"><font
    face="Arial">(dollars in thousands)</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:0_)" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">ASSETS</font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:0_)" bordercolor="#FFFFFF"><font
    face="Arial" size="3"><u>2001</u> </font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:0_)" bordercolor="#FFFFFF"><font
    face="Arial" size="3"><u>2000</u> </font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">Investments, at fair value</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">$ 9,175 </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">$ 9,180 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">Receivables:</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment
    income receivable</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">9 </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">- </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contributions
    - salary deferral</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">26 </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">36 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contributions
    - company</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF"><font face="Arial" size="3"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23</u>
    </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF"><font face="Arial" size="3"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34</u>
    </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
    receivables</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF"><font face="Arial" size="3"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58</u>
    </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF"><font face="Arial" size="3"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70</u>
    </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
    assets</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF"><font face="Arial" size="3"><u>&nbsp;9,233</u> </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF"><font face="Arial" size="3"><u>&nbsp;9,250</u> </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">LIABILITIES</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">Accrued administration expenses</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">23 </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">9 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">Liability for Benefit Payments</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF"><font face="Arial" size="3"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</u>
    </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF"><font face="Arial" size="3"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11</u>
    </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
    liabilities</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF"><font face="Arial" size="3"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23</u>
    </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF"><font face="Arial" size="3"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20</u>
    </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">Net assets available for benefits</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">$<u> 9,210</u> </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF"><font face="Arial" size="3">$<u> 9,230</u> </font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="center" COLSPAN="4" bordercolor="#FFFFFF"><font face="Arial">The accompanying
    notes are an integral part of the financial statements.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
</table>
</center></div><div align="center"><center>

<table border="1" width="667">
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="center" COLSPAN="4" bordercolor="#FFFFFF" width="661"><font SIZE="+1"
    face="Arial"><b>THE SAVINGS PLAN FOR AFFILIATES<br>
    <br>
    </b></font><p><font SIZE="+1" face="Arial"><b>STATEMENTS OF CHANGES IN NET ASSETS
    AVAILABLE FOR BENEFITS<br>
    </b>for the years ended December 31, 2001 and 2000<br>
    </font><font face="Arial">(dollars in thousands)</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="center" COLSPAN="4" bordercolor="#FFFFFF" width="661">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF" width="450">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF" width="97">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF" width="59">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF" width="450">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF" width="97">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF" width="59">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:0_)" bordercolor="#FFFFFF" width="97"><font
    face="Arial" size="3"><u>2001</u> &nbsp;</font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:0_)" bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:0_)" bordercolor="#FFFFFF" width="59"><font
    face="Arial" size="3"><u>2000</u> &nbsp;</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:0_)" bordercolor="#FFFFFF" width="97">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:0_)" bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:0_)" bordercolor="#FFFFFF" width="59">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="left" bordercolor="#FFFFFF" width="450"><font face="Arial" size="3">Additions
    to net assets attributed to:</font></td>
    <td ALIGN="right" bordercolor="#FFFFFF" width="97">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF" width="59">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="left" bordercolor="#FFFFFF" width="450"><font face="Arial" size="3">Investment
    income:</font></td>
    <td ALIGN="right" bordercolor="#FFFFFF" width="97">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right" bordercolor="#FFFFFF" width="59">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97"><font face="Arial" size="3">$ &nbsp;181 </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59"><font face="Arial" size="3">$&nbsp; 594&nbsp;</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97"><font face="Arial" size="3"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41</u>
    </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59"><font face="Arial" size="3"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84</u>&nbsp;</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97"><font face="Arial" size="3"><u>&nbsp;&nbsp;&nbsp;222</u> </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59"><font face="Arial" size="3"><u>&nbsp;&nbsp;&nbsp;678</u>&nbsp;</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450"><font face="Arial" size="3">Contributions:</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Salary
    deferral</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97"><font face="Arial" size="3">914 </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59"><font face="Arial" size="3">1,018&nbsp;</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Company</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97"><font face="Arial" size="3">763 </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59"><font face="Arial" size="3">944&nbsp;</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rollover</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97"><font face="Arial" size="3"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56</u>
    </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59"><font face="Arial" size="3"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2</u>&nbsp;</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97"><font face="Arial" size="3"><u>1,733</u> </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59"><font face="Arial" size="3"><u>1,964</u> </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
    additions</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97"><font face="Arial" size="3"><u>1,955</u> </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59"><font face="Arial" size="3"><u>2,642</u> </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0.0_)[semicolon]_(* (#,##0.0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450"><font face="Arial" size="3">Deductions from net assets
    attributed to:</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450"><font face="Arial" size="3">Net depreciation
    (appreciation) in fair value of investments</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97"><font face="Arial" size="3">667 </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59"><font face="Arial" size="3">(187)</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450"><font face="Arial" size="3">Benefits paid to
    participants</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97"><font face="Arial" size="3">1,233 </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59"><font face="Arial" size="3">345 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450"><font face="Arial" size="3">Administrative expenses</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97"><font face="Arial" size="3"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75</u>
    </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59"><font face="Arial" size="3"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37</u>
    </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
    deductions</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97"><font face="Arial" size="3"><u>1,975</u> </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59"><font face="Arial" size="3"><u>&nbsp;&nbsp;&nbsp;195</u>&nbsp;</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net
    (decrease) increase</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97"><font face="Arial" size="3">(20)</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59"><font face="Arial" size="3">2,447&nbsp;</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0.0_)[semicolon]_(* (#,##0.0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450"><font face="Arial" size="3">Net assets available for
    benefits:</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning
    of year</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97"><font face="Arial" size="3"><u>&nbsp;9,230</u> </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59"><font face="Arial" size="3"><u>&nbsp;6,783</u>&nbsp;</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End
    of year</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97"><font face="Arial" size="3">$<u> 9,210</u> </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59"><font face="Arial" size="3">$<u> 9,230</u>&nbsp;</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    bordercolor="#FFFFFF" width="450">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="97">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="37">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    bordercolor="#FFFFFF" width="59">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="center" COLSPAN="4" bordercolor="#FFFFFF" width="661"><font face="Arial">The
    accompanying notes are an integral part of the financial statements.</font></td>
  </tr>
</table>
</center></div>

<table border="1" width="759">
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="center" COLSPAN="3" width="753" bordercolor="#FFFFFF"><font SIZE="+1"
    face="Arial"><b>THE SAVINGS PLAN FOR AFFILIATES<br>
    <br>
    </b></font><p><font SIZE="+1" face="Arial"><b>NOTES TO FINANCIAL STATEMENTS</b></font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="left" width="18" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="529" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="194" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="529" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="194" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="529" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="194" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="left" width="18" bordercolor="#FFFFFF"><font SIZE="+1" face="Arial">1.</font></td>
    <td ALIGN="left" width="529" bordercolor="#FFFFFF"><font SIZE="+1" face="Arial"><b><u>Description
    of Plan:</u></b></font></td>
    <td ALIGN="right" width="194" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" colspan="2" rowspan="5" width="729" bordercolor="#FFFFFF"><font
    face="Arial" size="3">The following description of the Savings Plan for Affiliates (the
    Plan) provides<br>
    only general information. A more comprehensive description of the Plan's <br>
    provisions can be found in the Plan document, which is available to participants <br>
    upon request from Carpenter Technology Corporation or any participating <br>
    affiliate (collectively referred to as the &quot;Company&quot;).</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="529" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="194" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" colspan="2" width="729" bordercolor="#FFFFFF"><p align="left"><font
    SIZE="+1" face="Arial"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>General:</u></b></font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" colspan="2" rowspan="10" width="729" bordercolor="#FFFFFF"><font
    face="Arial" size="3">The Plan is a defined contribution plan which covers substantially
    all domestic<br>
    employees of Certech, Inc., Carpenter Advanced Ceramics, Inc. (Crafts <br>
    Technology and Z-Tech Divisions), Parmatech Corporation, Rathbone <br>
    Precision Metals and Shalmet Corporation (except for salaried exempt <br>
    employees who, effective July 1, 2001, became participants in the Savings <br>
    Plan of Carpenter Technology Corporation), all of which are affiliates of <br>
    Carpenter Technology Corporation, who have attained the age of 21 years <br>
    and have completed at least one year of service of at least 1,000 hours. <br>
    Plan participation commences on the first day of the month following <br>
    attainment of eligibility requirements. The Plan is subject to the provisions <br>
    of the Employee Retirement Income Security Act of 1974 (ERISA), as<br>
    amended.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="529" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="194" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" width="723" colspan="2" rowspan="2" bordercolor="#FFFFFF"><font
    face="Arial" size="3">Effective October 1, 2000, PNC Advisors replaced Chase Manhattan
    Bank <br>
    as Trustee and Recordkeeper of the Plan.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="529" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="194" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="723" colspan="2" bordercolor="#FFFFFF"><p align="left"><font
    SIZE="+1" face="Arial"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Contributions:</u></b></font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" width="723" colspan="2" rowspan="8" bordercolor="#FFFFFF"><font
    face="Arial" size="3">Each year, participants may contribute up to 17 percent of pretax
    annual <br>
    compensation (known as salary deferral contributions), as defined by the Plan.<br>
    Participants may also contribute amounts representing distributions from <br>
    other qualified plans (known as rollover contributions). The Company <br>
    contributes an amount equal to two percent of each employee's total <br>
    compensation for each pay period, and provides a matching contribution <br>
    equal to 50 percent of the portion of the participant's salary deferral which <br>
    does not exceed four percent of the participant's total compensation for <br>
    each pay period (collectively known as company contributions). <br>
    Contributions are subject to certain limitations.</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="18" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:@" width="529" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="194" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="723" colspan="2" bordercolor="#FFFFFF"><p align="left"><font
    SIZE="+1" face="Arial"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Participant
    Accounts:</u></b></font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" width="723" colspan="2" rowspan="3" bordercolor="#FFFFFF"><font
    face="Arial" size="3">The following four accounts are maintained for each participant and
    are <br>
    credited with the applicable contributions, earnings on funds invested, <br>
    forfeitures of terminated participants' nonvested accounts, and are charged <br>
    with an allocation of Plan administrative expenses.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="18" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="529" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="194" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
</table>

<table border="1" height="1004" width="728">
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="22" width="6" bordercolor="#FFFFFF"></td>
    <td ALIGN="left" colspan="2" height="22" width="710" bordercolor="#FFFFFF"><font
    face="Arial" size="3">The contributions to these accounts are participant directed:</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="18" width="6" bordercolor="#FFFFFF"></td>
    <td ALIGN="right" height="18" width="56" bordercolor="#FFFFFF"></td>
    <td ALIGN="right" height="18" width="648" bordercolor="#FFFFFF"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="20" width="6" bordercolor="#FFFFFF"></td>
    <td ALIGN="right" height="42" width="56" bordercolor="#FFFFFF" rowspan="2" valign="top"><font
    face="Arial" size="3">-</font></td>
    <td ALIGN="left" height="42" width="648" rowspan="2" bordercolor="#FFFFFF" valign="top"><font
    face="Arial" size="3">Employer Qualified Non-Elective Contribution Account - credited with<br>
    company non-matching contributions</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="22" width="6" bordercolor="#FFFFFF"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="22" width="6" bordercolor="#FFFFFF"></td>
    <td ALIGN="right" height="22" width="56" bordercolor="#FFFFFF" valign="top"><font
    face="Arial" size="3">-</font></td>
    <td ALIGN="left" height="22" width="648" bordercolor="#FFFFFF" valign="top"><font
    face="Arial" size="3">Employer Matching Account - credited with company matching<br>
    contributions</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="22" width="6" bordercolor="#FFFFFF"></td>
    <td ALIGN="right" height="22" width="56" bordercolor="#FFFFFF"><font face="Arial" size="3">-</font></td>
    <td ALIGN="left" height="22" width="648" bordercolor="#FFFFFF"><font face="Arial" size="3">Employee
    401(K) Account - credited with salary deferral contributions</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="22" width="6" bordercolor="#FFFFFF"></td>
    <td ALIGN="right" height="22" width="56" bordercolor="#FFFFFF"><font face="Arial" size="3">-</font></td>
    <td ALIGN="left" height="22" width="648" bordercolor="#FFFFFF"><font face="Arial" size="3">Rollover
    Monies Account - credited with rollover contributions</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="18" width="6" bordercolor="#FFFFFF"></td>
    <td ALIGN="right" height="18" width="56" bordercolor="#FFFFFF"></td>
    <td ALIGN="left" height="18" width="648" bordercolor="#FFFFFF"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="43" width="6" bordercolor="#FFFFFF"></td>
    <td ALIGN="left" colspan="2" height="154" width="710" bordercolor="#FFFFFF"><p
    align="left"><font SIZE="+1" face="Arial"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Vesting:</u></b></font></p>
    <p><font face="Arial" size="3">Qualified non-elective contributions, salary deferral
    contributions, rollover <br>
    monies, and the Plan earnings thereon, are 100 percent vested and <br>
    nonforfeitable. Vesting in the Company's matching contributions is based <br>
    upon years of continuous service, and a participant is 100 percent vested <br>
    after three years of service, contingent upon completing at least 1,000 hours <br>
    of service for each Plan year.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="22" width="6" bordercolor="#FFFFFF"></td>
    <td ALIGN="right" colspan="2" height="22" width="710" bordercolor="#FFFFFF"><p
    align="left"><font SIZE="+1" face="Arial"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Investment
    Funds:</u></b></font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="30" width="6" bordercolor="#FFFFFF"></td>
    <td ALIGN="left" colspan="2" rowspan="2" height="66" width="710" bordercolor="#FFFFFF"
    valign="top"><font face="Arial" size="3">As of October 1, 2000, the Plan maintains eleven
    investment funds. Each <br>
    participant may designate separately the investment fund or funds in which <br>
    the accounts are to be invested.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="30" width="6" bordercolor="#FFFFFF"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="22" width="6" bordercolor="#FFFFFF"></td>
    <td ALIGN="right" colspan="2" height="22" width="710" bordercolor="#FFFFFF"><p
    align="left"><font SIZE="+1" face="Arial"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Participant
    Loans:</u></b></font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="20" width="6" bordercolor="#FFFFFF" valign="top"></td>
    <td ALIGN="left" colspan="2" rowspan="2" height="154" width="710" bordercolor="#FFFFFF"
    valign="top"><font face="Arial" size="3">Loans may be made to participants in an amount
    equal to 50 percent of the <br>
    value of the vested interest in his or her account or $50,000, whichever is less. <br>
    The minimum amount of the loan shall be $1,000. Interest is charged at a rate <br>
    which is 1% over the published prime rate for commercial lenders at the time <br>
    the loan is initiated. Loan repayments are required for each pay period over a <br>
    period not to exceed five years. A participant may have only one loan <br>
    outstanding at any time.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="20" width="6" bordercolor="#FFFFFF" valign="top"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="22" width="6" bordercolor="#FFFFFF"></td>
    <td ALIGN="right" colspan="2" height="22" width="710" bordercolor="#FFFFFF"><p
    align="left"><font SIZE="+1" face="Arial"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Forfeited
    Accounts:</u></b></font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="23" width="6" bordercolor="#FFFFFF" valign="top"></td>
    <td ALIGN="left" colspan="2" rowspan="3" height="110" width="710" bordercolor="#FFFFFF"
    valign="top"><font face="Arial" size="3">Forfeitures during the year of the Company's
    matching contributions are held <br>
    in an account in the Vista Premier U.S. Government Money Market Fund until <br>
    allocated to all eligible participants in proportion to each such participant's <br>
    compensation for the plan year. Forfeitures were $7,000 in 2001. There were no<br>
    forfeitures in 2000.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="23" width="6" bordercolor="#FFFFFF" valign="top"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="23" width="6" bordercolor="#FFFFFF"></td>
  </tr>
</table>

<table border="1" height="847" width="759">
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="21" bordercolor="#FFFFFF" width="18"></td>
    <td ALIGN="right" colspan="2" height="21" bordercolor="#FFFFFF" width="729"><p
    align="left"><font SIZE="+1" face="Arial"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Benefits
    Paid to Participants:</u></b></font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="18" bordercolor="#FFFFFF" width="18" valign="top"></td>
    <td ALIGN="left" colspan="2" rowspan="11" height="279" bordercolor="#FFFFFF" width="729"
    valign="top"><font face="Arial" size="3">Benefits paid to participants include
    distributions and withdrawals. Participants <br>
    are entitled to a distribution equal to the value of the vested interest in his or her<br>
    account upon separation from service, occurrence of a total and permanent or <br>
    qualifying disability, or after the age of 59-1/2. Upon separation, a participant <br>
    may elect to defer such distribution, provided the account balance is at least <br>
    $5,000. The distribution of benefits to all separated participants must begin <br>
    no later than April 1 of the year after the participant retires or, in the case of <br>
    a 5% owner of Carpenter Technology Corporation common stock, the date <br>
    of separation. Upon attainment of age 59-1/2, participants may make <br>
    withdrawals from any accounts which are 100 percent vested without limitation.<br>
    Hardship withdrawals, subject to certain restrictions, are permitted from any <br>
    accounts which are 100 percent vested. Benefits paid to participants are in <br>
    cash except those which consist of investments in the Carpenter Technology <br>
    Stock Fund, which can be made in shares of Carpenter Technology <br>
    Corporation common stock or cash, at the participant's option. Payments<br>
    will be paid out in a lump sum or under a variety of annuity forms available for</font><font
    SIZE="+1" face="Arial"><br>
    </font><font face="Arial" size="3">election by the participant.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="18" bordercolor="#FFFFFF" width="18" valign="top"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="18" bordercolor="#FFFFFF" width="18" valign="top"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="18" bordercolor="#FFFFFF" width="18" valign="top"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="18" bordercolor="#FFFFFF" width="18" valign="top"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="18" bordercolor="#FFFFFF" width="18" valign="top"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="18" bordercolor="#FFFFFF" width="18" valign="top"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="18" bordercolor="#FFFFFF" width="18" valign="top"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="18" bordercolor="#FFFFFF" width="18" valign="top"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="18" bordercolor="#FFFFFF" width="18" valign="top"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="18" bordercolor="#FFFFFF" width="18" valign="top"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="22" width="18" bordercolor="#FFFFFF"></td>
    <td ALIGN="right" colspan="2" height="22" width="729" bordercolor="#FFFFFF"><p
    align="left"><font SIZE="+1" face="Arial"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Administrative
    Expenses:</u></b></font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="19" width="18" bordercolor="#FFFFFF"></td>
    <td ALIGN="left" colspan="2" rowspan="2" height="44" width="729" bordercolor="#FFFFFF"><font
    face="Arial" size="3">Independent accountants' fees are paid by the Company. All other
    fees are <br>
    paid by the Plan.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="19" width="18" bordercolor="#FFFFFF"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="18" width="18" bordercolor="#FFFFFF"></td>
    <td ALIGN="right" height="18" width="34" bordercolor="#FFFFFF"></td>
    <td ALIGN="right" height="18" width="689" bordercolor="#FFFFFF"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="22" width="18" bordercolor="#FFFFFF"></td>
    <td ALIGN="right" colspan="2" height="22" width="729" bordercolor="#FFFFFF"><p
    align="left"><font SIZE="+1" face="Arial"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Plan
    Termination:</u></b></font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="18" width="18" bordercolor="#FFFFFF" valign="top"></td>
    <td ALIGN="left" colspan="2" rowspan="4" height="114" width="729" bordercolor="#FFFFFF"
    valign="top"><font face="Arial" size="3">The Company has the right under the Plan to
    discontinue or change its <br>
    contributions at any time and to terminate the Plan subject to the provisions <br>
    of ERISA and any contractual obligations. In the event of termination or <br>
    partial termination of the Plan, or discontinuance of contributions by the <br>
    Company, the rights of all participants to amounts credited to their accounts <br>
    shall be nonforfeitable.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="18" width="18" bordercolor="#FFFFFF"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="18" width="18" bordercolor="#FFFFFF"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="18" width="18" bordercolor="#FFFFFF"></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="left" height="44" width="18" bordercolor="#FFFFFF"><font SIZE="+1" face="Arial">2.</font></td>
    <td ALIGN="left" height="44" width="723" bordercolor="#FFFFFF" colspan="2"><font SIZE="+1"
    face="Arial"><b><u>Summary of Significant Accounting Policies:</u></b></font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" height="29" width="18" valign="top" bordercolor="#FFFFFF"></td>
    <td ALIGN="center" height="29" width="34" valign="top" bordercolor="#FFFFFF"><font
    face="Arial" size="3">A.</font></td>
    <td ALIGN="left" height="29" width="689" valign="top" bordercolor="#FFFFFF"><font
    face="Arial" size="3">The financial statements of the Plan are prepared under the accrual <br>
    method of accounting.</font></td>
  </tr>
</table>

<table border="1" width="742">
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" width="30" valign="top" bordercolor="#FFFFFF"><font face="Arial"
    size="3">B.</font></td>
    <td ALIGN="left" width="659" colspan="4" bordercolor="#FFFFFF"><font face="Arial" size="3">The
    preparation of financial statements in conformity with accounting <br>
    principles generally accepted in the United States of America requires<br>
    management to make estimates and assumptions that affect the reported<br>
    amounts of assets, liabilities, and changes therein, and disclosure of <br>
    contingent assets and liabilities. Actual results could differ from those <br>
    estimates.<br>
    </font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" width="30" bordercolor="#FFFFFF" rowspan="7" valign="top"><font
    face="Arial" size="3">C.</font></td>
    <td ALIGN="left" width="659" colspan="4" rowspan="7" bordercolor="#FFFFFF" valign="top"><font
    face="Arial" size="3">The investment in Carpenter Technology Corporation common stock is <br>
    stated at fair value based on the last reported sales price as quoted <br>
    on the New York Stock Exchange. The investment in the other funds <br>
    are stated at their fair value, based on the current market values of <br>
    the underlying assets of the funds, or as determined by the trustee. <br>
    Purchases and sales of investments are recorded on a trade-date basis. <br>
    Gain or loss on sales of investments is based on average cost. Dividend<br>
    income is recorded on the ex-dividend date.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" width="30" bordercolor="#FFFFFF"><font face="Arial" size="3">D.</font></td>
    <td ALIGN="left" width="659" colspan="4" rowspan="3" bordercolor="#FFFFFF"><font
    face="Arial" size="3">The net appreciation (depreciation) in the fair value of investments
    <br>
    in the statement of changes in net assets available for benefits <br>
    consists of the realized gains or losses and unrealized appreciation <br>
    (depreciation) on investments.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" width="30" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" width="30" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" width="30" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="473" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="98" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="26" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="62" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" width="30" bordercolor="#FFFFFF"><font face="Arial" size="3">E.</font></td>
    <td ALIGN="left" width="473" bordercolor="#FFFFFF"><font face="Arial" size="3">Benefits
    are recorded when paid.</font></td>
    <td ALIGN="right" width="98" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="26" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="62" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" width="30" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="473" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="98" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="26" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="62" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" width="30" bordercolor="#FFFFFF" rowspan="6" valign="top"><font
    face="Arial" size="3">F.</font></td>
    <td ALIGN="left" width="659" colspan="4" rowspan="6" bordercolor="#FFFFFF" valign="top"><font
    face="Arial" size="3">Investments are exposed to various risks, such as interest rate, <br>
    market and credit risks. Due to the level of risk associated with <br>
    certain investments and the level of uncertainty related to changes <br>
    in the value of investments, it is reasonably possible that changes <br>
    in these risks in the near term could materially affect the amounts<br>
    reported in the statement of net assets available for benefits and <br>
    the statement of changes in net assets available for benefits.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF"><font SIZE="+1" face="Arial">3.</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="700" colspan="5" bordercolor="#FFFFFF"><font SIZE="+1" face="Arial"><b><u>Investments:</u></b></font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" width="688" colspan="5" rowspan="2" bordercolor="#FFFFFF"><font
    face="Arial" size="3">The following presents investments that represent 5 percent or more <br>
    of the Plan's net assets. (Shares and dollars in thousands) </font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="30" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="473" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" COLSPAN="3" width="197" bordercolor="#FFFFFF"><font face="Arial"
    size="3"><b>at December 31</b></font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="503" colspan="2" bordercolor="#FFFFFF"><font face="Arial" size="3">Mutual Funds:</font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:@" width="98" bordercolor="#FFFFFF"><font
    face="Arial" size="3"><b><u>2001 </u></b></font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="26" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:@" width="62" bordercolor="#FFFFFF"><font
    face="Arial" size="3"><b><u>2000 </u></b></font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:@" width="503" colspan="2"
    bordercolor="#FFFFFF"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment
    Company of America Fund, 70 units</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="98" bordercolor="#FFFFFF"><font face="Arial" size="3">$ 1,993 </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="26" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="62" bordercolor="#FFFFFF"><font face="Arial" size="3">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    - </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:@" width="30" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="473" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="98" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="26" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="62" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:@" width="503" colspan="2"
    bordercolor="#FFFFFF"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federated
    Mid-Cap Fund, 99 units</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="98" bordercolor="#FFFFFF"><font face="Arial" size="3">$ 1,677 </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="26" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="62" bordercolor="#FFFFFF"><font face="Arial" size="3">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    - </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="30" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="473" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:@" width="98" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="26" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:@" width="62" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:@" width="503" colspan="2" rowspan="2"
    bordercolor="#FFFFFF"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PNC
    Investment Contract Fund, 630 and 572 units,<br>
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;respectively</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="98" rowspan="2" bordercolor="#FFFFFF"><font face="Arial" size="3"><br>
    $ 1,493 </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="26" rowspan="2" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="62" rowspan="2" bordercolor="#FFFFFF"><font face="Arial" size="3"><br>
    $ 1,284 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:@" width="30" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="473" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="98" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="26" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="62" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:@" width="503" colspan="2" rowspan="2"
    bordercolor="#FFFFFF"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock
    Intermediate Government Bond Fund, 85 and 76<br>
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;units, respectively</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="98" bordercolor="#FFFFFF"><font face="Arial" size="3">$ &nbsp;&nbsp;&nbsp;877 </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="26" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="62" bordercolor="#FFFFFF"><font face="Arial" size="3">$&nbsp;&nbsp;&nbsp; 771 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="98" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="26" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="62" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:@" width="30" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="473" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="98" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="26" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="62" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
</table>

<table border="1" width="742">
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:@" width="512" bordercolor="#FFFFFF"><font
    face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Balanced Fund,
    62 and 63 units, respectively</font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="8" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="78" bordercolor="#FFFFFF"><font face="Arial" size="3">$&nbsp;&nbsp;&nbsp; 868 </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="29" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="62" bordercolor="#FFFFFF"><font face="Arial" size="3">$ 1,016 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:@" width="512" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="8" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="78" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="29" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="62" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="512" rowspan="2" bordercolor="#FFFFFF"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carpenter
    Technology Corporation common stock,<br>
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117 and 126 units,
    respectively</font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="8" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="78" rowspan="2" bordercolor="#FFFFFF"><font face="Arial" size="3"><br>
    $ 1,139 </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="29" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="62" rowspan="2" bordercolor="#FFFFFF"><font face="Arial" size="3"><br>
    $ 1,527 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="8" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="29" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:@" width="512" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="8" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="78" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="29" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="62" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="512" bordercolor="#FFFFFF"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loan
    Fund, 474 units</font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="8" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="78" bordercolor="#FFFFFF"><font face="Arial" size="3">$&nbsp;&nbsp;&nbsp; 474 </font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="29" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="62" bordercolor="#FFFFFF"><font face="Arial" size="3">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    - </font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="512" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="8" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="78" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="29" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="62" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" width="689" colspan="5" rowspan="3" bordercolor="#FFFFFF"><font
    face="Arial" size="3">The Plan's investments, including gains and losses on investments <br>
    bought and sold, as well as held during the year, (depreciated) in <br>
    value by ($667,000) and appreciated in value by $187,000 in 2001 <br>
    and 2000 as follows:</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:@" width="512" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="8" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="center" COLSPAN="3" STYLE="vnd.ms-excel.numberformat:@" width="181"
    bordercolor="#FFFFFF"><font SIZE="-1" face="Arial">(dollars in thousands)</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="512" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="8" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:@" width="78" bordercolor="#FFFFFF"><font
    face="Arial" size="3"><b><u>2001 </u></b></font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="29" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:@" width="62" bordercolor="#FFFFFF"><font
    face="Arial" size="3"><b><u>2000 </u></b></font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="512" bordercolor="#FFFFFF"><font face="Arial" size="3">Mutual funds</font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="8" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="78" bordercolor="#FFFFFF"><font face="Arial" size="3">$ (388)</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="29" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="62" bordercolor="#FFFFFF"><font face="Arial" size="3">$ 328 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="512" bordercolor="#FFFFFF"><font face="Arial" size="3">Common stock</font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="8" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="78" bordercolor="#FFFFFF"><font face="Arial" size="3">(<u>279</u>)</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="29" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_(* #,##0_)[semicolon]_(* (#,##0)[semicolon]_(* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="62" bordercolor="#FFFFFF"><font face="Arial" size="3">(<u>141</u>)</font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="512" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="8" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="78" bordercolor="#FFFFFF"><font face="Arial" size="3">$ (<u>667</u>)</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="29" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="62" bordercolor="#FFFFFF"><font face="Arial" size="3">$ <u>187</u> </font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="512" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="8" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="78" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="29" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="62" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="left" width="17" bordercolor="#FFFFFF"><font SIZE="+1" face="Arial">4.</font></td>
    <td ALIGN="left" width="512" bordercolor="#FFFFFF"><font SIZE="+1" face="Arial"><b><u>Tax
    Status:</u></b></font></td>
    <td ALIGN="right" width="8" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="78" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="29" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="62" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" width="689" colspan="5" rowspan="6" bordercolor="#FFFFFF"><font
    face="Arial" size="3">The Internal Revenue Service has determined and informed the <br>
    Company by letter dated December 20, 1999, that the Plan and <br>
    related trust are designed in accordance with applicable sections of <br>
    the Internal Revenue Code (IRC). Although the Plan has been <br>
    amended since receiving the determination letter, the Plan administrator <br>
    and the Plan's tax counsel believe that the Plan is designed and is <br>
    currently being operated in compliance with the applicable requirements <br>
    of the IRC.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="512" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="8" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="78" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="29" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="62" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:@" width="17" bordercolor="#FFFFFF"><font
    SIZE="+1" face="Arial">5.</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="512" bordercolor="#FFFFFF"><font SIZE="+1" face="Arial"><b><u>Related Party
    Transactions:</u></b></font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="8" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="78" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="29" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="62" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" width="689" colspan="5" rowspan="4" bordercolor="#FFFFFF"><font
    face="Arial" size="3">Certain Plan investments are shares of mutual funds managed by <br>
    PNC. PNC is the trustee as defined by the Plan and, therefore, these <br>
    transactions qualify as party-in-interest. Fees paid by the Plan for the <br>
    investment management services of PNC for the years ended <br>
    December 31, 2001 and 2000 were $75,000 and $1,000, respectively.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="512" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="8" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="78" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="29" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="62" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="left" width="689" colspan="5" rowspan="5" bordercolor="#FFFFFF"><font
    face="Arial" size="3">Certain Plan investments were shares of mutual funds managed <br>
    by the Chase Manhattan Bank. The Chase Manhattan Bank was the <br>
    trustee through September 30, 2000 as defined by the Plan and, <br>
    therefore, these transactions qualify as party-in-interest. Fees paid <br>
    by the Plan for the investment management services of Chase <br>
    Manhattan Bank for the year ended December 31, 2000 was $36,000.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="17" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="512" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="8" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="78" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="29" bordercolor="#FFFFFF">&nbsp;</td>
    <td ALIGN="right" width="62" bordercolor="#FFFFFF">&nbsp;</td>
  </tr>
</table>

<table border="1" width="748">
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="center" COLSPAN="4" width="742"><b><font SIZE="+1" face="Arial">Schedule H,
    line 4i - Schedule of Assets (Held at End of Year)<br>
    The Savings Plan for Affiliates<br>
    </font><font face="Arial">as of December 31, 2001</font></b></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:@" width="30">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="342">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="253">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="99">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="30">&nbsp;</td>
    <td ALIGN="right" width="342">&nbsp;</td>
    <td ALIGN="right" width="253">&nbsp;</td>
    <td ALIGN="right" width="99">&nbsp;</td>
  </tr>
  <tr ALIGN="center" VALIGN="bottom">
    <td STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)" width="30"
    valign="top"><font face="Arial"><b>(A)</b></font></td>
    <td STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)" width="342"
    valign="top"><p align="center"><font face="Arial"><b>(B)<br>
    Identity of issue, borrower, lessor<br>
    or similar party</b></font></td>
    <td STYLE="vnd.ms-excel.numberformat:@" width="253" valign="top"><p align="center"><font
    face="Arial"><b>(C) <br>
    Description of investment, <br>
    including maturity date, rate <br>
    of interest, collateral,<br>
    par or maturity value</b></font></td>
    <td STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)" width="99"
    valign="top"><p align="center"><font face="Arial"><b>(E)<br>
    Current<br>
    Value</b></font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="30">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="342"><font face="Arial">Investment Company of America Fund</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="253"><font face="Arial">Registered Investment Company</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="99"><font face="Arial">$ 1,993,506 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="30">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="342"><font face="Arial">Federated Mid-Cap Fund</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="253"><font face="Arial">Registered Investment Company</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="99"><font face="Arial">$ 1,677,137 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="30"><font SIZE="+1"
    face="Arial">*</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="342"><font face="Arial">PNC Investment Contract Fund</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="253"><font face="Arial">Registered Investment Company</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="99"><font face="Arial">$ 1,493,279 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="30"><font SIZE="+1"
    face="Arial">*</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="342"><font face="Arial">Carpenter Technology Corporation Stock Fund</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="253"><font face="Arial">Corporate Stocks - Common</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="99"><font face="Arial">$ 1,139,159 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="30"><font SIZE="+1"
    face="Arial">*</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="342"><font face="Arial">BlackRock Intermediate Government Bond Fund</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="253"><font face="Arial">Registered Investment Company</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="99"><font face="Arial">$&nbsp;&nbsp;&nbsp; 883,510 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="30"><font SIZE="+1"
    face="Arial">*</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="342"><font face="Arial">BlackRock Balanced Fund</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="253"><font face="Arial">Registered Investment Company</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="99"><font face="Arial">$&nbsp;&nbsp;&nbsp; 868,448 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="30">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="342"><font face="Arial">Janus Growth Fund</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="253"><font face="Arial">Registered Investment Company</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="99"><font face="Arial">$&nbsp;&nbsp;&nbsp; 258,051 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="30">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="342"><font face="Arial">Fidelity Advisor Value Stratification Fund</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="253"><font face="Arial">Registered Investment Company</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="99"><font face="Arial">$&nbsp;&nbsp;&nbsp; 183,524 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="30"><font SIZE="+1"
    face="Arial">*</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="342"><font face="Arial">BlackRock Index Equity Fund</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="253"><font face="Arial">Registered Investment Company</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="99"><font face="Arial">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 85,719 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="30">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="342"><font face="Arial">Janus International Fund</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="253"><font face="Arial">Registered Investment Company</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="99"><font face="Arial">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 79,452 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:@" width="30">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="342"><font face="Arial">Aim Small Cap Growth Fund</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="253"><font face="Arial">Registered Investment Company</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="99"><font face="Arial">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38,912 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="30">&nbsp;</td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="342" rowspan="2" valign="top"><font face="Arial">Participant Loans</font></td>
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="253" rowspan="2"><font face="Arial">Loans to Participants - interest rate range
    6.00% to 10.5%; no loans due past 5/4/07</font></td>
    <td ALIGN="right"
    STYLE="vnd.ms-excel.numberformat:_($* #,##0_)[semicolon]_($* (#,##0)[semicolon]_($* [dquote]-[dquote]_)[semicolon]_(@_)"
    width="99" rowspan="2">&nbsp;<p><font face="Arial">$ &nbsp;&nbsp;474,386 </font></td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="center" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="30">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="30">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="342">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="253">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:$#,##0_)[semicolon]($#,##0)" width="99">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom">
    <td ALIGN="left" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="372" colspan="2"><font SIZE="-1" face="Arial">* Party-in-Interest</font></td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)"
    width="253">&nbsp;</td>
    <td ALIGN="right" STYLE="vnd.ms-excel.numberformat:$#,##0_)[semicolon]($#,##0)" width="99">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" width="30">&nbsp;</td>
    <td ALIGN="right" width="342">&nbsp;</td>
    <td ALIGN="right" width="253">&nbsp;</td>
    <td ALIGN="right" width="99">&nbsp;</td>
  </tr>
</table>
<div align="center"><center>

<table border="1" width="612">
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF" width="606">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF" width="606">&nbsp;</td>
  </tr>
  <tr ALIGN="center" VALIGN="bottom"
  STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td align="center" bordercolor="#FFFFFF" width="606"><strong><font face="Arial" size="3">CONSENT
    OF INDEPENDENT ACCOUNTANTS</font></strong></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF" width="606">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF" width="606">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF" width="606">&nbsp;</td>
  </tr>
  <tr ALIGN="left" VALIGN="bottom"
  STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td bordercolor="#FFFFFF" width="606"><font face="Arial" size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
    hereby consent to the incorporation by reference in the <br>
    Registration Statement on Form S-8 (number 033-65077) of Carpenter <br>
    Technology Corporation of our report dated May 17, 2002 relating to <br>
    the financial statements of The Savings Plan for Affiliates, which <br>
    appears in this Form 11-K.</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF" width="606">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF" width="606">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF" width="606">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF" width="606">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF" width="606">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF" width="606">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="left" bordercolor="#FFFFFF" width="606"><font face="Arial" size="3">PricewaterhouseCoopers
    LLP<br>
    Philadelphia, PA<br>
    June 20, 2002</font></td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF" width="606">&nbsp;</td>
  </tr>
  <tr VALIGN="bottom" STYLE="vnd.ms-excel.numberformat:#,##0.00_)[semicolon](#,##0.00)">
    <td ALIGN="right" bordercolor="#FFFFFF" width="606">&nbsp;</td>
  </tr>
</table>
</center></div><font SIZE="-1"><i>

<p><font face="Arial"><br>
Last Updated on 6/17/02 <br>
By U00954 </font></i><font SIZE="+0"></p>
</font></font>
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</TEXT>
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</SEC-DOCUMENT>
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