0000950142-01-500440.txt : 20011009 0000950142-01-500440.hdr.sgml : 20011009 ACCESSION NUMBER: 0000950142-01-500440 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20010921 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SWISS REINSURANCE CO CENTRAL INDEX KEY: 0000315043 STANDARD INDUSTRIAL CLASSIFICATION: [] FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 50/60 MYTHENQUAI STREET 2: CH-8022 CITY: ZURICH STATE: V8 ZIP: 00000 BUSINESS PHONE: 0114112852162 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PARTNERRE LTD CENTRAL INDEX KEY: 0000911421 STANDARD INDUSTRIAL CLASSIFICATION: ACCIDENT & HEALTH INSURANCE [6321] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-44059 FILM NUMBER: 1742112 BUSINESS ADDRESS: STREET 1: 106 PITTS BAY RD STREET 2: BELVEDERE BLDG CITY: PEMMBROKE PARISH BER STATE: D0 ZIP: 00000 BUSINESS PHONE: 8092920888 MAIL ADDRESS: STREET 1: PARTNERRE LTD STREET 2: 106 PITTS BAY ROAD BELVEDERE BLDG CITY: PEMBROKE BERMUDA HM8 STATE: D0 ZIP: 00000 FORMER COMPANY: FORMER CONFORMED NAME: PARTNER RE HOLDINGS LTD DATE OF NAME CHANGE: 19950725 SC 13D/A 1 sc13da5.txt AMENDMENT NO. 5 ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ----------------------- SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 5) ----------------------- PARTNERRE LTD. (Name of Issuer) COMMON STOCK, PAR VALUE $1.00 PER SHARE (Title of Class of Securities) G6852T-105 (CUSIP Number) MARKUS U. DIETHELM CHIEF LEGAL OFFICER AND MEMBER OF SENIOR MANAGEMENT SWISS REINSURANCE COMPANY 50/60 MYTHENQUAI CH-8022 ZURICH, SWITZERLAND TEL. NO.: 011-41-1-285-2162 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) ----------------------- SEPTEMBER 18, 2001 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 1(f) or 1(g), check the following box [_]. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-1(a) for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). ================================================================================ ----------------------------- ----------------------------- G6852T-105 PAGE 2 OF 18 ----------------------------- ----------------------------- -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Swiss Reinsurance Company -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (b) [_] -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Switzerland -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 14,603,969 shares of Common Stock SHARES (consisting of 13,838,096 shares of BENEFICIALLY OWNED Common Stock, 677,873 Class B Warrants BY EACH REPORTING and 88,000 Options to purchase Common PERSON Stock) WITH ------------------------------------------------ 8 SHARED VOTING POWER -0- ------------------------------------------------ 9 SOLE DISPOSITIVE POWER 14,603,969 shares of Common Stock (consisting of 13,838,096 shares of Common Stock, 677,873 Class B Warrants and 88,000 Options to purchase Common Stock) ------------------------------------------------ 10 SHARED DISPOSITIVE POWER -0- -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 14,603,969 shares of Common Stock (consisting of 13,838,096 shares of Common Stock, 677,873 Class B Warrants and 88,000 Options to purchase Common Stock) -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 28.7% -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO -------------------------------------------------------------------------------- ----------------------------- ----------------------------- G6852T-105 PAGE 3 OF 18 ----------------------------- ----------------------------- This Amendment No. 5 ("Amendment No. 5") to Schedule 13D amends and restates in its entirety the Schedule 13D, dated as of June 13, 1997 (the "Original 13D"), as amended by Amendment No. 1, dated July 16, 1997, as amended by Amendment No. 2, dated September 10, 1997, as amended by Amendment No. 3, dated November 20, 1997, and as amended by Amendment No. 4, dated January 26, 2000, filed with respect to the shares of common stock, par value $1.00 per share (the "Common Stock") of PartnerRe Ltd., a Bermuda company (the "Company"). ITEM 1. SECURITY AND ISSUER. The security to which this Statement relates is the Common Stock. The Company's principal executive office is located at 106 Pitts Bay Road, Pembroke Parish, Bermuda. ITEM 2. IDENTITY AND BACKGROUND. The name of the person filing this Statement is Swiss Reinsurance Company, a Swiss company ("Swiss Re"). The principal business of Swiss Re and its subsidiaries (the "Swiss Re Group") is engaging in reinsurance and related activities throughout the world. The reinsurance companies in the Swiss Re Group transact almost all lines of reinsurance. There is no control person of Swiss Re. The address of the principal business and the principal office of Swiss Re is 50/60 Mythenquai, CH-8022 Zurich, Switzerland. The name, business address, present principal occupation or employment and citizenship of each director and executive officer of Swiss Re is set forth on Schedule A hereto ("Schedule A"), which is incorporated herein by reference. ----------------------------- ----------------------------- G6852T-105 PAGE 4 OF 18 ----------------------------- ----------------------------- During the past five years, neither Swiss Re nor any person controlling Swiss Re nor, to the best of Swiss Re's knowledge, any of the persons listed on Schedule A has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. In connection with the initial public offering of the Common Stock and pursuant to a subscription agreement, dated August 24, 1993 (the "Initial Subscription Agreement"), between Swiss Re and PartnerRe Holdings, Ltd. (the predecessor to the Company), Swiss Re purchased 5,277,045 shares of Common Stock (the "Initial Shares"), 4,353,007 Class A Warrants (the "Initial Class A Warrants") and 3,389,364 Class B Warrants (the "Class B Warrants"). The aggregate subscription price for the Initial Shares, the Initial Class A Warrants and Class B Warrants was $100,000,000. The purchase price was funded through internally generated funds. By their terms, 20% of the Class B Warrants were available for vesting each year since 1994. The vesting conditions, which related to certain performance criteria, for the 20% of the Class B Warrants available for vesting in each of November 1994, 1995, 1996 and 1998 were not met and those Class B Warrants were forfeited. However, the 1997 performance criteria were satisfied and, in November 1997, a total of 677,873 Class B Warrants held by Swiss Re vested. The vested Class B Warrants are exercisable through November 2004. The exercise price of each Class B Warrant was $20 reducing, by $3 on ----------------------------- ----------------------------- G6852T-105 PAGE 5 OF 18 ----------------------------- ----------------------------- the fourth anniversary of the date on which any particular Class B Warrant vests; thus the exercise price of the vested Class B Warrants will be reduced to $17 in November 2001. Between 1993 and 1997, options ("Options") to acquire 88,000 shares of Common Stock, plus 7,772 additional shares of Common Stock (the "Additional Shares"), were granted to directors of the Company who are or were at the time also executives of Swiss Re, and in accordance with the terms of their employment with Swiss Re, such options and shares were transferred to Swiss Re. Since then, in 1998, 6,000 additional Options were granted to each of two such directors; in 1999, 8,000 Options were granted to each of two such directors; and in each of 2000 and 2001, 8,000 Options were granted to one such director. Between 1998 and 2000, 44,000 Options were exercised, for an aggregate purchase price of $1,025,827 (from internally generated funds). There currently are 88,000 unexercised Options benefically owned by Swiss Re. No purchase price was paid in connection with Swiss Re's acquisition of the Options and the Additional Shares. Pursuant to a stock purchase agreement, dated as of March 28, 1997 (the "1997 Stock Purchase Agreement"), between the Company and Swiss Re, the Company agreed to acquire from Swiss Re outstanding shares of Societe Anonyme Francaise de Reassurances ("SAFR"). The aggregate purchase price for the SAFR shares paid by the Company to Swiss Re included cash and the delivery of 6,453,007 shares of Common Stock. Thus, upon the consummation of these transactions, Swiss Re became the beneficial owner of an additional 2,100,000 shares of Common Stock plus 4,353,007 shares of Common Stock (which were issued upon exercise of the Initial Class A Warrants). Additionally, SwissRe Investments (Bermuda) Ltd., a wholly owned subsidiary of Swiss Re, purchased directly from the Company 2,000,000 8% Cumulative Preferred ----------------------------- ----------------------------- G6852T-105 PAGE 6 OF 18 ----------------------------- ----------------------------- Shares, par value $1.00 per share, of the Company (the "Preferred Shares"). Holders of the Preferred Shares have no voting rights, except in the limited circumstance when dividends payable are in arrears six full dividend periods. The Company used the proceeds of the sale of the Preferred Shares to Swiss Re to finance a portion of the cash purchase price for the SAFR shares. The Preferred Shares were bought at a price of $25.00 per share for a total consideration of $50,000,000. Pursuant to a subscription agreement dated August 24, 1993 between the Company and Head Investors, the Company issued to Head Investors shares of Common Stock and Class A Warrants on November 10, 1993. The cost per share of Common Stock was deemed to be $18.34 and per Class A Warrant, $1.25. European Reinsurance Company of Zurich, a subsidiary of Swiss Re and a limited partner in Head Investors, withdrew as a limited partner and, on August 26, 1997, received, as a final distribution, 405,398 shares of Common Stock and Class A Warrants to acquire 204,220 shares of Common Stock from Head Investors (the "Additional Class A Warrants"). The Additional Class A Warrants were exercised in November 2000, on a cashless basis, for 136,374 shares of Common Stock. In November 2000, 50,000 shares of Common Stock were acquired by Swiss Re from a plan for the benefit of employees and retirees of Swiss Re, for an aggregate purchase price of $1,870,625 (from internally generated funds). The aggregate amount of funds required by Swiss Re to purchase 1,464,500 shares of Common Stock in September 2001 amounted to $52,478,111.00 (including commissions). The funds used to purchase such Common Stock were obtained from internally generated funds. ITEM 4. PURPOSE OF TRANSACTION. Swiss Re acquired the securities enumerated in Item 5 (the "Securities") for investment. Swiss Re intends to review from time to time the Company's business ----------------------------- ----------------------------- G6852T-105 PAGE 7 OF 18 ----------------------------- ----------------------------- affairs and financial position. Based on such evaluation and review, as well as general economic and industry conditions existing at the time, Swiss Re may consider from time to time various alternative courses of action. Such actions may include, subject to the Standstill Agreement referred to in Item 6 (so long as it is applicable), the acquisition of additional Securities through open market purchases, privately negotiated transactions, a tender or exchange offer or otherwise. Alternatively, depending on Swiss Re's evaluation and review of the Company, as well as general economic and industry conditions existing at the time, Swiss Re may elect to sell all or a portion of the Securities in the open market, in privately negotiated transactions, through a public offering or otherwise. In November 1999, Swiss Re asked the Company whether the Company would be willing to grant its consent to Swiss Re's proposing to acquire the outstanding Common Stock of the Company not owned by Swiss Re. The Company indicated that it would only engage in discussions if it was in agreement with the price per share that Swiss Re would consider proposing. Since Swiss Re and the Company could not agree on such a price, no such consent was granted and no proposal was made. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. (a) As of the date hereof and after giving effect to the acquisition of 1,464,500 shares, Swiss Re may be deemed to beneficially own an aggregate of 14,603,969 shares of Common Stock, consisting of 13,838,096 shares of Common Stock, Class B Warrants to acquire 677,873 shares of Common Stock and 88,000 shares of Common Stock deliverable upon exercise of Options. Based on calculations made in accordance with Rule 13d-3(d) of the Securities Exchange Act of 1934 and based on there being 50,163,268 shares of Common Stock outstanding as of August 6, 2001, as reported in the Company's Form 10-Q for the quarter ended June 30, 2001, the Securities ----------------------------- ----------------------------- G6852T-105 PAGE 8 OF 18 ----------------------------- ----------------------------- represent approximately 28.7% of the shares of Common Stock outstanding. In addition, Swiss Re beneficially owns 2,000,000 Preferred Shares. Except as set forth in Item 5(a) and Schedule B hereto, neither Swiss Re nor any other person controlling Swiss Re nor, to the best of its knowledge, any persons named in Schedule A hereto, owns beneficially any Securities. (b) Swiss Re has the sole power to vote (directly or indirectly) and to dispose of the Securities. (c) In the last 60 days, Swiss Re purchased on the dates and for the aggregate amounts set forth on Schedule C attached hereto and incorporated by reference herein, shares of Common Stock, which, in the aggregate, amount to over 1% of the shares of Common Stock outstanding as of August 6, 2001. All of such purchases were made on the New York Stock Exchange. (d) Not Applicable. (e) Not Applicable. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO THE ISSUER. Swiss Re and PartnerRe Holdings, Ltd. (the predecessor to the Company) were parties to the Initial Subscription Agreement with respect to the Initial Shares, the Initial Class A Warrants and Class B Warrants. A copy of the Initial Subscription Agreement was filed as Exhibit 1 to the Original 13D and is incorporated herein by reference. The Initial Class A Warrants, as well as the Additional Class A Warrants, were exercised. A portion of the Class B Warrants vested. The vested Class B Warrants are exercisable for a period of seven years from the date upon which they vest. The terms of the Class B Warrants are set forth in the form of Class B Warrant (a copy of which was filed as Exhibit 3 to the Original 13D and is incorporated herein by reference). ----------------------------- ----------------------------- G6852T-105 PAGE 9 OF 18 ----------------------------- ----------------------------- In accordance with the terms of their employment with Swiss Re, various executives of Swiss Re who are also directors of the Company (currently Walter B. Kielholz) are required to transfer to Swiss Re any securities of the Company received as compensation in connection with their services as directors of the Company. In 1993, 20,000 Options were granted to each of two such directors, between 1994 and 1998, 6,000 Options were granted to each of two such directors; in 1999, 8,000 Options were granted to each of two such directors; and in each of 2000 and 2001, 8,000 Options were granted to one such director. Currently, 88,000 unexercised Options are benefically owned; 44,000 such Options were exercised between 1998 and 2000. At the closing of the transactions under the 1997 Stock Purchase Agreement in July 1997, Swiss Re and the Company entered into a standstill agreement (the "Standstill Agreement") pursuant to which Swiss Re agreed that, for so long as Swiss Re is a shareholder of the Company and until the seventh anniversary of the Standstill Agreement, Swiss Re's ownership and voting rights in the Company are limited to 30%. A copy of the Standstill Agreement was filed as Exhibit 5 to Amendment No. 1 and is incorporated herein by reference. Except for the Initial Subscription Agreement, the Class B Warrants, the 1997 Stock Purchase Agreement, the Standstill Agreement and the terms of employment of Mr. Kielholz, to the best knowledge of Swiss Re, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the persons enumerated in Item 2, and any other person, with respect to any securities of the Company, including, but not limited to, transfer or voting of any of the securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, divisions of profits or loss, or the giving or withholding of proxies. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS (ALL INCORPORATED BY REFERENCE). Exhibit 1 Subscription Agreement Exhibit 2 Form of Class A Warrants ----------------------------- ----------------------------- G6852T-105 PAGE 10 OF 18 ----------------------------- ----------------------------- Exhibit 3 Form of Class B Warrants Exhibit 4 Stock Purchase Agreement (filed as an Exhibit to the Company's Form 8-K dated March 31, 1997 and incorporated by reference herein) Exhibit 5 Standstill Agreement ----------------------------- ----------------------------- G6852T-105 PAGE 11 OF 18 ----------------------------- ----------------------------- SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated as of September 21, 2001. SWISS REINSURANCE COMPANY By: /s/ Andre Pfanner --------------------------------------- Name: Andre Pfanner Title: Member of Senior Management By: /s/ Herbert G. Buff --------------------------------------- Name: Herbert G. Buff Title: Group Compliance Officer and Member of Senior Management ----------------------------- ----------------------------- G6852T-105 PAGE 12 OF 18 ----------------------------- ----------------------------- SCHEDULE A DIRECTORS AND EXECUTIVE OFFICERS OF SWISS REINSURANCE COMPANY The name, business address, title, present principal occupation or employment of each of the directors and executive officers of SWISS REINSURANCE COMPANY ("Swiss Re") are set forth below. If no business address is given, the director's or officer's business address is 50/60 Mythenquai, CH-8022 Zurich, Switzerland. Unless otherwise indicated, each occupation set forth opposite an individual's name refers to Swiss Re. Unless otherwise indicated below, all of the persons listed are citizens of Switzerland. NAME AND BUSINESS ADDRESS PRESENT PRINCIPAL OCCUPATION INCLUDING NAME AND ADDRESS OF EMPLOYER DIRECTORS --------- Peter Forstmoser Chairman of the Board of Directors Lukas Muhlemann Deputy Chairman of Swiss Re and Chief Executive Officer of Credit Suisse Group Paradeplatz 8 P.O. Box 1 CH-8070 Zurich, Switzerland Walter B. Kielholz Managing Director and Chief Executive Officer Thomas W. Bechtler Managing Director Hesta AG Seestrasse 21 P.O. Box 1510 CH-8700 Kusnacht, Switzerland George L. Farr 69 Vineyard Lane Greenwich, CT 06831 USA Citizen of United States of America Rajna Gibson Professor of Financial Economics Swiss Banking Institute University of Zurich Plattenstrasse 14 CH-8032 Zurich, Switzerland Benedict G.F. Hentsch Partner Darier Hentsch & Cie Bankers rue Saussure 4 P.O. Box 5045 CH-1211 Geneva 11, Switzerland Ernesto Jutzi Speerstrasse 23 CH-8832 Wilen/Wollerau, Switzerland ----------------------------- ----------------------------- G6852T-105 PAGE 13 OF 18 ----------------------------- ----------------------------- NAME AND BUSINESS ADDRESS PRESENT PRINCIPAL OCCUPATION INCLUDING NAME AND ADDRESS OF EMPLOYER Jorge Paulo Lemann GP Investimentos Av. Brig. Faria Lima, 3729, 7o andar 04538-905 Sao Paulo, SP, Brazil EXECUTIVE OFFICERS (WHO ARE NOT DIRECTORS) ------------------ Jacques Aigrain Member of the Executive Board and Head, Financial Services Business Group 55 East 52nd Street New York, New York 10055 U.S.A. Citizen of Switzerland and France Andreas Beerli Member of the Executive Board and Head, Americas Division of Non-life Business Group 175 King Street Armonk, New York 10055 U.S.A. Giuseppe Benelli Member of the Executive Board and Head, Swiss Re Investors and Chief Investment Officer John R. Coomber Member of the Executive Board and Head, Swiss Re Life & Health Business Group Old Broad Street London EC2N 1HQ England Citizen of United Kingdom Jacques E. Dubois Member of the Executive Board and Deputy Head, Swiss Re Life & Health Business Group 969 High Ridge Road Stamford, Connecticut 06905 U.S.A. Citizen of the United States of America John H. Fitzpatrick Member of the Executive Board and Chief Financial Officer Citizen of the United States of America John J. Hendrickson Member of the Executive Board and Head, Capital Partners 150 California Street San Francisco, CA 94111 U.S.A. Citizen of the United States of America Rudolf Kellenberger Member of the Executive Board and Deputy Chief Executive Officer Michel M. Lies Member of the Executive Board and Head, Europe Division of Non-life Business Group Citizen of Luxembourg ----------------------------- ----------------------------- G6852T-105 PAGE 14 OF 18 ----------------------------- ----------------------------- NAME AND BUSINESS ADDRESS PRESENT PRINCIPAL OCCUPATION INCLUDING NAME AND ADDRESS OF EMPLOYER Stefan Lippe Member of the Executive Board and Head, Swiss Re Non-life Business Group Citizen of Germany Pierre L. Ozendo Member of the Executive Board and Head, Asia Division of Non-life Business Group Citizen of the United States of America Bruno Porro Member of the Executive Board and Chief Reinsurance and Risk Officer Yury Zaytsev Member of the Executive Board and Head, Information Technology Division Citizen of the United States of America Erwin K. Zimmerman Member of the Executive Board and Head, Swiss Re New Markets Division Citizen of Germany ----------------------------- ----------------------------- G6852T-105 PAGE 15 OF 18 ----------------------------- ----------------------------- SCHEDULE B DIRECTORS AND EXECUTIVE OFFICERS OF SWISS REINSURANCE COMPANY BENEFICIAL OWNERSHIP OF PARTNERRE SECURITIES -------------------------------------------- NUMBER OF COMMON SHARES NAME BENEFICIALLY OWNED ---- ------------------ Rudolf Kellenberger 1,000 ----------------------------- ----------------------------- G6852T-105 PAGE 16 OF 18 ----------------------------- ----------------------------- SCHEDULE C SWISS REINSURANCE COMPANY NUMBER OF SHARES PURCHASED PRICE PER SHARE -------------------------- (EXCLUDING COMMISSION) ---------------------- THE FOLLOWING TRANSACTIONS WERE EFFECTED ON 9/17/01: 200,000 $39.00 1,000 38.70 3,000 38.65 500 38.64 600 38.63 1,400 38.61 7,500 38.60 4,500 38.35 81,500 38.20 70,000 38.10 3,000 37.41 77,000 37.00 6,000 36.90 10,000 36.85 4,000 36.83 30,000 36.82 THE FOLLOWING TRANSACTIONS WERE EFFECTED ON 9/18/01: 3,000 $36.90 700 36.80 2,800 36.75 6,100 36.60 3,000 36.50 3,900 36.48 5,500 36.45 2,400 36.20 2,000 36.15 300 36.10 4,200 36.05 500 36.04 5,600 36.00 10,000 35.19 5,000 35.10 18,900 35.00 1,100 34.95 2,500 34.50 600 34.45 4,900 34.42 1,000 34.41 18,500 34.40 5,000 34.33 5,000 34.30 5,000 34.28 ----------------------------- ----------------------------- G6852T-105 PAGE 17 OF 18 ----------------------------- ----------------------------- NUMBER OF SHARES PURCHASED PRICE PER SHARE -------------------------- (EXCLUDING COMMISSION) ---------------------- 2,500 34.22 2,500 34.16 5,000 34.15 5,000 34.05 42,500 34.00 124,100 33.95 3,000 33.90 2,000 33.88 9,900 33.87 3,500 33.86 2,500 33.82 2,500 33.80 2,500 33.77 5,000 33.70 57,500 33.50 3,200 33.40 2,500 33.20 1,700 33.10 800 33.05 1,800 33.00 2,500 32.50 THE FOLLOWING TRANSACTIONS WERE EFFECTED ON 9/19/01: 207,100 $35.00 100 34.97 8,500 34.96 5,600 34.95 10,000 34.84 3,000 34.82 60,000 34.80 20,200 34.75 43,100 34.50 800 34.42 17,700 34.40 7,400 34.46 100 34.45 900 34.35 15,000 34.15 43,500 34.00 21,500 33.98 THE FOLLOWING TRANSACTIONS WERE EFFECTED ON 9/20/01: 29,400 $35.00 500 34.99 1,400 34.98 7,500 34.97 500 34.96 1,300 34.94 900 34.92 ----------------------------- ----------------------------- G6852T-105 PAGE 18 OF 18 ----------------------------- ----------------------------- NUMBER OF SHARES PURCHASED PRICE PER SHARE -------------------------- (EXCLUDING COMMISSION) ---------------------- 2,800 34.90 100 34.85 600 34.82 2,700 34.75 52,300 34.70