11-K 1 map11k02.htm MATCHED ASSET PLAN map11k02.htm_rev05

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 11-K

 

ANNUAL REPORT
PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

 

x ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the fiscal year ended: December 31, 2002

 

o TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the transition period from         to         


Commission file number: 1-4850


          A. Full title of plan and the address of the plan, if different from that of the issuer named below: Computer Sciences Corporation Matched Asset Plan

          B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

 

Computer Sciences Corporation
2100 East Grand Avenue
El Segundo, California 90245

 


 

TABLE OF CONTENTS

Description

Page

 

 

(a) Financial Statements:

 

 
 

Independent Auditors' Report.........................................................................

3

 

Statements of Net Assets Available for Benefits
As of December 31, 2002 and 2001 ..................................................................

4

 

Statements of Changes in Net Assets Available for Benefits
For the Years Ended December 31, 2002 and 2001 ...........................................

5

Notes to Financial Statements ...........................................................................

6

 

(b) Supplemental Schedule:

 

      Schedule of Assets (Held at End of Year)

S-1


(c) Exhibits:

 

Independent Auditors' Consent ........................................................................

E-23

 

Certification Under Section 906 of the Sarbanes-Oxley Act of 2002

E-99

 


INDEPENDENT AUDITORS' REPORT

Employee Retirement Plan Committee
Computer Sciences Corporation
El Segundo, California:

We have audited the accompanying statements of net assets available for benefits of Computer Sciences Corporation Matched Asset Plan (the "Plan") as of December 31, 2002 and 2001, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits.

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

In our opinion, such financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2002 and 2001, and the changes in net assets available for benefits for the years then ended in conformity with accounting principles generally accepted in the United States of America.

Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedule of assets (held at end of year) is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplemental schedule is the responsibility of the Plan's management. Such supplemental schedule has been subjected to the auditing procedures applied in our audits of the 2002 basic financial statements and, in our opinion, is fairly stated in all material respects when considered in relation to the basic financial statements taken as a whole.

 

/s/Deloitte & Touche LLP
June 13, 2003

3


COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

         December 31        

    2002    

    2001    

ASSETS

Investments (Notes 1, 2, 5, and 9):

  Short-term investments

$ 170,912,269

$ 161,908,607

  Long-term investments

    Computer Sciences Corporation common stock

270,826,298

366,929,066

    Participant loans (Note 6)

20,848,024

23,727,940

    Interest in registered investment companies

      Mellon Enhanced Asset Fund

89,474,914

114,150,053

      Mellon S&P 500 Stock Index Fund

214,747,696

261,662,033

      Black Rock Core Bond Fund

42,525,446

      Vanguard High Yield Bond Fund

11,456,659

8,657,195

      Mellon Balanced 40/60 Fund

25,197,973

19,959,575

      Mellon Balanced 60/40 Fund

40,452,622

38,766,590

      Mellon Balanced 80/20 Fund

49,760,056

52,413,718

      Mellon S&P 500 Select Fund

29,669,793

32,348,755

      Mellon Market Completion Fund

39,969,231

40,593,717

      Bernstein International Value Portfolio Fund

14,041,643

      Frank Russell Active Equity Fund

96,986,981

126,149,670

   Bonds and debentures

215,919,928

142,412,199

   International equity investments

15,006,101

   Guaranteed investment contracts

       208,402

       211,992

Total investments

1,291,436,947

1,446,458,199

Receivables:

   Accrued income

1,593,875

1,176,875

   Unsettled trades

     22,318,020

     20,320,012

 Total Receivables

     23,911,895

     21,496,887

Cash

        738,482

            -    

 Total Assets

 1,316,087,324

  1,467,955,086

LIABILITIES

 Accrued expenses

741,603

412,358

 Unsettled trade payables

26,508,134

15,266,460

 Other

       695,516

       1,674,790

  Total Liabilities

     27,945,253

      17,353,608

NET ASSETS AVAILABLE FOR BENEFITS

$ 1,288,142,071
============

$ 1,450,601,478
============

 

See Notes to Financial Statements

4


COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

STATEMENTS OF CHANGES IN NET ASSETS
AVAILABLE FOR BENEFITS

     Years Ended December 31     

    2002    

    2001    

ADDITIONS

Investment Income (Loss):

 Net depreciation in fair value of

   investments (Note 9)

$ (246,023,997)

$ (135,063,097)

 Interest

14,519,253 

14,728,097 

 Dividends

     8,956,209 

     10,048,883 

(222,548,535)

(110,286,117)

Contributions:

 Employee

151,249,938 

151,010,449 

 Employer

27,985,869 

27,558,202 

 Employee rollovers

8,839,837 

4,607,875 

 (Spin-offs to) transfers from other plans (Note 8)

       (73,406)

     135,149,630 

   188,002,238 

     318,326,156 

 Total (Reductions) Additions

(34,546,297)

208,040,039 

DEDUCTIONS

 Distributions to participants (Notes 1 and 2)

125,997,395 

103,706,840 

 Investment management fees

     1,915,715 

     1,786,442 

  Total Deductions

   127,913,110 

   105,493,282 

   Net (Decrease) Increase

(162,459,407)

102,546,757 

Net Assets Available for Benefits at Beginning of Year

  1,450,601,478 

  1,348,054,721 

NET ASSETS AVAILABLE FOR BENEFITS
AT END OF YEAR

$ 1,288,142,071 
============

$ 1,450,601,478 
============

 

See Notes to Financial Statements

5


COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 2002

Note 1     Description of the Plan

The following brief description of the Computer Sciences Corporation Matched Asset Plan (the "Plan") is provided for general information purposes only. Participants should refer to the Plan documents for more complete information.

The Plan is a defined contribution plan adopted by the action of the Board of Directors of Computer Sciences Corporation (the "Company") taken on November 3, 1986, and constitutes an amendment and restatement of the Employee Stock Purchase Plan ("the Prior Plan").

The Plan is a continuation of the Prior Plan and is qualified under the Internal Revenue Code (the "Code"), as amended, Section 401(a) and, effective as of January 1, 1987, with respect to the portion thereof that qualifies as a qualified cash or deferred arrangement, to satisfy the requirement of Code Section 401(k). It is also subject to the provisions of the Employee Retirement Income Security Act of 1974 as amended ("ERISA").

Plan Termination Although it has not expressed any intention to do so, the Company reserves the right to discontinue its contributions and terminate the Plan subject to the provisions of ERISA. In the event of such termination, the participants' rights to the Company's contributions vest immediately and the account balances are fully paid to the participants.

Interest in the Common/Collective Trust

The Plan's investments are in the common/collective trust ("CCT") which was established for the investment of assets of the Plan and several other Computer Sciences Corporation sponsored retirement plans. Each participating retirement plan has an undivided interest in the CCT. The assets of the CCT are held by The Bank of New York (the "Trustee"). At December 31, 2002 and 2001, the Plan's interest in the net assets of the CCT was approximately 58.7% and 61.8%, respectively. Investment income and administrative expenses relating to each discretionary or directed fund within the CCT are allocated to the individual plans based upon average monthly balances invested by each plan in each discretionary or directed fund.

Participants in the CCT consist of the Computer Sciences Corporation Matched Asset Plan, CSC Outsourcing Inc. Hourly Savings Plan, CSC Outsourcing Inc. CUTW Hourly Savings Plan, Computer Sciences Corporation Employee Pension Plan, CSC Outsourcing Inc. Hourly Pension Plan, CSC Outsourcing Inc. CUTW Hourly Pension Plan, CSC/Hughes Retirement Plan, CSR's Range Employees Pension Plan, AEDC Contractors' Retirement Plan-ACS, Computer Sciences Corporation Cash Balance Plan, CSC/Raytheon Retirement Plan, CSC/E-Systems Pension Plan, and the CSC Pension Equity Plan (the "Plans").

6


COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 2002


Eligibility and Participation

Any eligible employee who has satisfied the Plan's age and service requirements, and is employed by the Company, and who receives a stated compensation in respect of employment on the payroll of the Company, is eligible to become a participant, with the exception of a person who is represented by a collective bargaining unit and whose benefits have been the subject of good faith bargaining under a contract that does not specify that such person is eligible to participate in the Plan. In addition, the Company may determine to exempt all employees of any division, unit, facility or class from coverage under the Plan. Any person who leaves the employ of the Company and, at a later time becomes re-employed, must reapply to participate in the Plan, provided he or she otherwise meets the eligibility requirements.

There were approximately 34,961 and 37,150 participating employees at December 31, 2002 and 2001, respectively.

Employee and Company Contributions

Subject to certain limitations described below, an eligible employee who elects to become a participant may authorize any whole percentage (at least 1% but not more than 15%) of such employee's monthly compensation (as defined in the Plan) to be deferred and contributed to the trust fund on his or her behalf, up to a maximum amount of $11,000 and $10,500 for 2002 and 2001, respectively. Any compensation deferral in excess of $11,000 and $10,500 for 2002 and 2001, respectively, together with income allocable to that excess, will be returned to a participant. Any matching Company contributions attributable to any excess contribution, and income allocable thereto, will either be returned to the Company or applied to reduce future matching Company contributions. Effective January 1, 2002, under the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), the Plan permits participants age 50 and over, to make additional "catch-up" contributions in excess of the statutory limit. For 2002, such "catch-up" contributions could be made up to $1,000 a year, then they are increased each year by $1,000 until $5,000 in 2006, and then indexed in $500 increments.

In order to qualify for the special tax treatment accorded to plans by Section 401(k) of the Code, contributions on behalf of participants under the Plan must meet two nondiscrimination tests designed to prevent a disproportionate compensation deferral election by employees who are highly compensated in relation to other employees. The Committee may cause the percentage authorized by the highly compensated participants to be reduced if the Plan does not meet both of the nondiscrimination tests.

A participant is not permitted to make voluntary after-tax contributions to the Plan.

 

7


COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 2002


The Company will contribute an amount equal to 50% of the first 3% of the participant's compensation deferral, except for five groups of employees to whom under the terms of their contract agreements the Company will contribute amounts based on the following rates:

Group 1 50% of the first 4% of the participant's compensation deferral;
Group 2 100% of the first 7% of the participant's compensation deferral;
Group 3 100% of the first 5% of the participant's compensation deferral;
Group 4 100% of the first 10% of the participant's compensation deferral; and
Group 5 100% of the first 6% of the participant's compensation deferral.

Matching contributions will be invested in the Company Stock Fund, which invests in the common stock of Computer Sciences Corporation except for employees of CSC Credit Services, Inc., Mississippi Space Services, and Computer Sciences Raytheon whose matching contributions are not required to be invested in the Company Stock Fund, and may be invested in any available fund selected by the employee. Participants direct the investment of their contributions into various investment options offered by the Plan.

Participant Accounts

Each participant's account is credited with the participant's contribution and the Company's matching contribution and allocations of Plan earnings, and is charged with an allocation of investment management fees. Allocations are based on participant earnings or account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account.

Vesting of Participants' Interests/Forfeitures

Participants are vested immediately in his or her contributions plus actual earnings thereon.

Vesting in his or her Matching Contribution Account is equal to twenty-five percent (25%) after completing two full years of service and increasing by twenty-five percent (25%) for each additional full year of service. Vesting accelerates to 100% in the event of reaching age 65 while employed by the Company or upon severance by reason of death or total and permanent disability.

Any nonvested portion of the Matching Contributions Account will be forfeited upon withdrawal from the Plan. Forfeitures may be applied to reduce future matching contributions by the Company. Such forfeitures during 2002 and 2001 amounted to $1,211,155 and $1,149,369, respectively. As of December 31, 2002, the Plan held $104,477 in forfeitures.

8


COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 2002

Distributable Amounts, Withdrawals and Refunds

A participant may become entitled to a distribution of his or her distributable benefit by reason of retirement, death, total and permanent disability, voluntary termination of employment, or dismissal. The rules of payment of a participant's distributable benefit depend upon age of the participant, the number of years of service completed by the participant and the type of severance.

While still an employee, a participant may, upon at least a 30 day written notice to the Committee, make a withdrawal of his or her compensation deferral contributions if the Committee finds, after considering the participant's request, that an adequate financial hardship and resulting need for such amount has been demonstrated by the participant.

Note 2     Summary of Significant Accounting Policies

Basis of Accounting

The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. Certain reclassifications have been made to the prior years' financial statements to conform to 2002 presentation.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of net assets available for benefits and changes therein. Actual results could differ from those estimates.

Risks and Uncertainties

The Plan utilizes various investment instruments. Investment securities, in general, are exposed to various risks, such as interest rate risk, credit risk, and overall market volatility. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the value of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the financial statements.

9


COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 2002


Assets of the Plan

The assets of the Plan are held in a trust with fourteen funds representing the investment options. The investment return in the respective funds is allocated to a participant based on his or her account balance. Contributions to, and payments from, the Plan are specifically identified to the applicable funds within the trust.

Security Transactions

Security transactions are accounted for on a trade-date basis. Dividend income is recorded on the ex-dividend date. Interest income is accounted for on the accrual basis.

In general, participants in the CSC Stock Fund receive distributions in certificates for shares of the common stock of the Company.

Valuation of Investment Securities

Investments in common stocks, fixed income securities and institutional investment vehicles are stated at fair value based upon closing sales prices reported on recognized securities exchanges on the last business day of the plan year or, for the listed securities having no sales reported and for unlisted securities, upon last reported bid prices on that date. Investments in short-term investments and participant loans are stated at cost which approximates fair value.

Payment of Benefits

Benefits are recorded when paid.

Note 3     Income Tax Status

The Internal Revenue Service has determined and informed the Company by a letter dated May 13, 2003, that the Plan and related trust are designed in accordance with applicable sections of the Internal Revenue Code (IRC).

The Committee believes that the Plan is designed and operated to qualify under Section 401(a) of the Code and, with respect to its qualified cash or deferred arrangement, under Section 401(k) of the Code.

10


COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 2002


Note 4     Reconciliation of Financial Statements to Form 5500

            December 31,            

       2002     

       2001     

Net assets available for benefits per the financial statements

$ 1,288,142,071 

$ 1,450,601,478 

Amounts allocated to withdrawing participants

    (10,968,769)

     (7,047,846)

Net assets available for benefits per Form 5500

$ 1,277,173,302 
============

$ 1,443,553,632 
============

The following is a reconciliation of benefits paid to participants per the financial statements to the Form 5500:

   Year Ended December 31,   

     2002     

     2001     


Benefits paid to participants per the financial statements

$ 125,997,395 

$ 103,706,840 

Add: Amounts allocated to withdrawing participants at
  end of year

10,968,769 

7,047,846 

Less: Amounts allocated to withdrawing participants at
  start of year

     (7,047,846)

     (5,794,888)

Benefits paid to participants per the Form 5500

$ 129,918,318 
===========

$ 104,959,798 
===========

Amounts allocated to withdrawing participants are recorded on the Form 5500 for benefit claims that have been processed and approved for payment prior to year end but not paid as of that date.

Note 5     Investment Funds

Participant contributions - Subject to rules the Committee may from time to time adopt, each participant has the right to designate one or more of the following investment funds established by the Committee for the investment of his or her compensation deferral contributions, in increments of 1%. After an initial election has been made, a participant may designate a different Fund into which future compensation deferral contributions shall be invested as of the first day of any payroll period that coincides with or immediately follows the first day of any month once within a calendar quarter. In addition, a participant may elect to redesignate any amounts in his or her accounts as of the last business day of any month to be invested in a different Fund. These elections may be made by giving such advance notice as may be required by the Plan administrator.

11


COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 2002


Note 6     Participant Loans

The Plan allows participants to borrow from their vested account balances from a minimum of $1,000 to a maximum of 50% of their vested account balances up to $50,000, subject to certain limitations. The loans bear interest at the prime rate quoted in the Wall Street Journal plus 1%. Loan terms range from 1-5 years or up to 15 years for purchase of a primary residence. Loans are recorded at cost, which approximates fair value, on the Statements of Net Assets Available for Benefits.

The loans are deducted from the participants' accounts according to a priority specified in the Plan's loan rules and, within each account, pro rata from the funds based on their balances at the time. Loan repayments are reinvested in the participants' funds according to their current investment election. The repayments are similarly allocated among participants' accounts according to the priority specified in the Plan's rules.

Note 7     Benefits Payable

As of December 31, 2002 and 2001, net assets available for benefits included benefits of $10,968,769 and $7,047,846, respectively, due to participants who have elected to withdraw from the Plan but have not yet been paid.

Note 8     Transfers from and to Other Plans

In 2002, $85,007 was processed as loan spin-offs from the Plan to the JT-3 Plan. Also, $11,601 was transferred to the Plan from other defined contribution plans.

The asset value of transfers from other plans were as follows in 2001: $125,268,996 from the Policy Management Systems Corporation 401(k) Retirement Savings Plan; $8,955,418 from the BAE Employees' Savings & Investment, Tracor, Inc. 401(k) Savings, and British Aerospace 401(k) Retirement Savings Plans; $890,104 from the Oxford Selective Savings Plan; and $35,112 from various other plans.

12


COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 2002


Note 9     Investments in Common/Collective Trust

The following table presents investments in the CCT at fair value.

          December 31,         

     2002     

     2001     

Investments at Fair Value as Determined by

Quoted Market Price

Cash (Overdraft)

$      (7,062,096)

$       771,012

Short-term investment fund

82,631,988 

31,776,435

Money market fund

134,905,932 

147,720,071

Bonds and debentures

313,525,841 

248,968,019

CSC Common Stock

271,451,187 

368,094,643

International equity portfolios

80,999,745 

74,180,890

Investment in registered investment companies

Active Allocation Fund

89,474,915 

114,150,053

Brinson Balanced Fund

44,971,781 

49,406,885

Brinson U.S. Equity Fund

121,505,104 

143,755,664

Mellon Capital Aggr. Bond Fund

19,442,536 

20,066,387

Mellon Corporate Bond Fund

128,727,920 

123,016,531

Mellon EB Enhanced Asset Allocation Fund

72,130 

113,334

Mellon EB Stock Index Fund

18,103,136 

23,220,592

Mellon Equity Fund

252,041,662 

235,054,154

Mellon Equity Completion Fund

100,432,455 

97,126,946

Mellon Government Bond Fund

1,100,655 

1,008,764

Mellon Index Fund

91,480 

136,632

Mellon S&P 500 Index Fund

214,747,696 

261,662,033

Pacific Mutual Enhanced Bond Fund

42,048,116 

37,783,455

BlackRock Core Bond Fund

2,068,241 

44,600,697

Vanguard High Yield Bond Fund

11,456,659 

8,657,195

Mellon Balanced 40/60 Fund

25,197,973 

19,959,575

Mellon Balanced 60/40 Fund

40,452,622 

38,766,590

Mellon Balanced 80/20 Fund

49,760,056 

52,413,718

Mellon S&P 500 Select Fund

29,669,793 

32,348,755

(continued)

 

13


COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 2002

 

Table of CCT investments, continued

            December 31,            

     2002     

     2001     

Frank Russell Active Equity Fund

     97,710,335

    127,245,652

2,165,527,862

2,302,004,682

Investment at Estimated Fair Value

Geewax Terker Hedge fund

14,208,865

14,165,469

Guaranteed investment contracts

       208,402

       211,992

14,417,267

14,377,461

Investment at Cost, Which Approximates Fair Value

Employee loans

     20,861,715

     23,765,491

Total Common/Collective Trust

$ 2,200,806,844
============

$ 2,340,147,634
============

Plan's Interest in the CCT

$ 1,291,436,947
============

$ 1,446,458,199
===========

 

The investment income (loss) of the CCT is summarized as follows:

    Year Ended December 31,    

     2002     

     2001     

 

Bonds and debentures

$   10,015,510 

$   4,924,608 

CSC Common Stock

(108,787,494)

(59,424,873)

International equity portfolios

(8,622,821)

(10,670,885)

Active Allocation Fund

(20,078,067)

(8,719,154)

Brinson Balanced Fund

(5,805,752)

1,285,968 

Brinson Equity Fund

(24,647,781)

4,891,950 

Mellon Capital Aggr. Bond Fund

690,020 

418,623 

Mellon Corporate Bond Fund

3,612,141 

3,672,373 

Mellon EB Enhanced Asset Allocation Fund

(17,344)

(8,058)

Mellon EB Stock Index Fund

(5,441,571)

(3,192,318)

Mellon Equity Fund

(66,788,887)

(33,622,902)

Mellon Equity Completion Fund

(19,801,599)

(9,200,978)

Mellon Government Bond Fund

41,899 

23,420 

(continued)

 

14


COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 2002


Investment income (loss), continued

     Year Ended December 31,     

     2002     

     2001     

Mellon Index Fund

(34,571)

(20,131)

Mellon S&P 500 Index Fund

(63,790,246)

(35,624,927)

Pacific Mutual Enhanced Bond Fund

4,264,662

3,040,266

BlackRock Core Bond Fund

72,514

262,365

Vanguard High Yield Bond Fund

(626,885)

(440,694)

Mellon Balanced 40/60 Fund

(782,720)

70,786

Mellon Balanced 60/40 Fund

(4,249,948)

(1,096,540)

Mellon Balanced 80/20 Fund

(9,206,704)

(3,670,567)

Mellon S&P 500 Select Fund

(8,038,147)

(3,246,340)

Frank Russell Active Equity Fund

(27,340,693)

(20,799,631)

Geewax Terker Hedge fund

       (128,110)

         58,709

Net depreciation in fair value of investments

(355,492,594)

(171,088,930)

Dividends

35,005,228

48,455,275

Interest

      20,008,593

       5,947,341

Common/Collective Trust Loss

$ (300,478,773)
============

$ (116,686,314)
============

Plan's Interest in the Common/Collective Trust Loss

$ (222,548,535)
============

$ (110,286,117)
===========


Note 9     Related-Party Transactions

Certain short-term investment funds are managed by The Bank of New York. The Bank of New York is the trustee as defined by the Plan and, therefore, these transactions qualify as party-in-interest transactions. The fees associated with these short-term investment funds were paid by the Company.

At December 31, 2002 and 2001, the Plan held 7,861,431 and 7,491,406 shares, respectively, of common stock of the Computer Sciences Corporation, the sponsoring employer, with a cost basis of $466,785,058 and $462,477,957, respectively.

15


COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 2002


Note 10     Nonparticipant-Directed Investments

Information about the net assets and the significant components of the changes in net assets relating to the nonparticipant-directed investments is as follows as of December 31, 2002 and 2001, and for the two years ended December 31, 2002:

     2002     

     2001     

Net assets:

CSC common stock

$ 270,826,298 

$ 366,929,066 

Short-term investments

3,606,539 

3,350,802 

Accrued income

2,963 

2,646 

Net unsettled trades payable

(1,648,279)

(2,634,021)

Other payables

              -   

       (328,614)

CSC Stock Fund

$ 272,787,521 

$ 367,319,879 

Changes in net assets:

Net depreciation in fair value of investments

(107,637,878)

(59,231,924)

Interest income

835,954 

1,196,858 

Employer contributions

25,428,236 

26,216,874 

Participant contributions

25,037,842 

30,126,900 

Participant rollovers

467,912 

497,033 

Transfers to participant-directed investments

(8,182,718)

(3,194,898)

Plan to plan transfers

(6,395)

702,635 

Benefits paid to participants

     (30,475,311)

     (22,806,952)

Net Change

(94,532,358)

(26,493,474)

CSC Stock Fund beginning of the year

     367,319,879 

    393,813,353 

CSC Stock Fund end of the year

$ 272,787,521 
===========

$ 367,319,879 
==========

 

Note 11     Derivative Financial Instruments

In the Plan's separate accounts, derivative financial instruments are used by the Plan's international equity manager primarily to hedge the currency risk component of the Plan's foreign investments. The fixed income investment manager is permitted to use certain specified types of derivative instruments as part of its strategy. This strategy includes the use of futures and options as substitutes for certain types of fixed income securities. Leveraging of the Plan's assets and speculation are prohibited. Currency hedge positions in aggregate are not permitted to exceed the level of exposure in the Plan's related assets.

16


COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
For the two years ended December 31, 2002


Foreign Currency Exchange Contracts

The Plan enters into forward contracts to purchase and sell foreign currencies in the normal course of its investing activities to manager the currency exposure associated with the Plan's foreign equity investments. The terms of these contracts generally do not exceed one year. The credit risk associated with these contracts is minimal as they are entered into with a limited number of highly rated counterparties.

The Plan reflects the fair value of all forward contracts as an asset or liability in the Plan's financial statements. The fair value associated with the foreign currency contracts have been estimated by the valuing position of the contracts using the applicable spot rates and forward rates as of the reporting date. In the statement of net assets available for benefits, forward contracts to purchase foreign currency are shown as currency contract payables and forward contracts to sell foreign currency are shown as currency contract receivables. Changes in fair values are accounted for as net appreciation (depreciation) in fair value of investments.

Futures Contracts

The Plan enters into futures contracts in the normal course of its investing activities to manage market risk associated with the Plan's fixed income investments and to achieve overall investment portfolio objectives. These contracts involve elements of market risk in excess of amounts recognized in the statements of net assets available for benefits. The credit risk associated with these contracts is minimal as they are traded on organized exchanges and settled daily.

During 2002, the Plan was a party to futures contracts held for trading purposes for U.S. Treasury Bonds. Upon entering into a futures contract, the Plan is required to deposit either in cash or securities an amount ("initial margin") equal to a certain percentage of the nominal value of the contract. Subsequent payments are then made or received by the Plan, depending on the daily fluctuations in the value of the underlying contracts.

At December 31, 2002, the Plan had futures contracts to sell U.S. Treasury Bonds contracts with a notional amount of $4.3 million. Notional amounts do not quantify risk or represent assets or liabilities of the Plan, but are used in the calculation of cash settlements under the contracts.

The fair value of futures contracts in the statement of net assets available for benefits is zero at December 31, 2002, as settlements are by cash daily. Changes in fair values are accounted for as net depreciation (depreciation) in fair value of investments.

17


SIGNATURES

 

The Plan. Pursuant to the requirements of the Securities Act of 1934, the Computer Sciences Corporation Retirement Plans Committee has duly caused this annual report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

Computer Sciences Corporation
MATCHED ASSET PLAN

 

 

Date: June 25, 2003

By: /s/ LEON J. LEVEL
Leon J. Level
Chairman,
Computer Sciences Corporation
Retirement Plans Committee

 

18


2002
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)

   

(b) Identity of issue,
borrower, lessor
or similar party

(c) Description of investment including
maturity date rate of interest,
    collateral, par or maturity value

(d) Cost

           

(e) Current Value

             

*

The Bank of New York

STIF - Collective Short Term Invest Fd

$ 36,006,333

$ 36,006,333

Mellon Capital Management Corp.

Temporary Investment Fund

4

4

The Vanguard Group

Money Market Fund

134,905,932

134,905,932

Short-Term Investments

170,912,269

170,912,269

*

Computer Sciences Corp.

CSC Common Stocks

466,785,058

270,826,298

Computer Sciences Corp.

Loan to Participants (1/10/03-10/9/20 -- 5.25%-11.54%)

20,848,024

20,848,024

Mellon Capital Management Corp.

Mutual Fund - Mellon Enhanced Asset EB Daily Liquidity Enhanced Fund

114,493,029

89,474,914

Mellon Capital Management Corp.

Mutual Fund - Mellon S&P 500 Index Daily Liquidity Stock Fund

362,386,854

214,747,696

The Vanguard Group

Commingled Bond Fund - Vanguard High Yield Corp Bond

12,943,232

11,456,659

Mellon Capital Management Corp.

Mutual Fund - Daily Liquidity Stock Index Fund

10,023,353

7,808,911

Mellon Capital Management Corp.

Commingled Bond Fund - Mellon EB Daily Liquidity

13,072,040

15,193,963

Mellon Capital Management Corp.

Commingled Equity Fund - Mellon EB Daily Mkt Complet

  2,562,564

  2,195,099

Mellon Balanced 40/60 Fund

25,657,957

25,197,973

Mellon Capital Management Corp.

Mutual Fund - Daily Liquidity Stock Index Fund

25,455,752

18,827,224

Mellon Capital Management Corp.

Commingled Bond Fund - Mellon EB Daily Liquidity

13,844,789

16,243,777

Mellon Capital Management Corp.

Commingled Equity Fund - Mellon EB Daily Mkt Complet

  6,489,131

  5,381,621

Mellon Balanced 60/40 Fund

45,789,672

40,452,622

Mellon Capital Management Corp.

Mutual Fund - Daily Liquidity Stock Index Fund

43,408,355

30,961,958

Mellon Capital Management Corp.

Commingled Bond Fund - Mellon EB Daily Liquidity

8,494,263

9,952,011

Mellon Capital Management Corp.

Commingled Equity Fund - Mellon EB Daily Mkt Complet

  11,139,533

  8,846,087

Mellon Balanced 80/20 Fund

63,042,151

49,760,056

Mellon Capital Management Corp.

Commingled Eqty Fund - S&P Select EB Daily Liq. Active

40,155,674

29,669,793

Mellon Capital Management Corp.

Commingled Eqty Fund - Market Completion EB Daily

53,381,673

39,969,231

Frank Russell Trust Company

Commingled Equity Fund - Frank Russell Equity #1 Fund

150,091,588

96,986,981

Asset Backed Secs Corp

Corporate Fixed Income

03/15/30

5.11%

382,063

393,645

Bank One Issuance Trust

Corporate Fixed Income

01/15/08

4.16%

1,224,742

1,281,299

Capital Auto Receivables Asset

Corporate Fixed Income

10/16/06

3.58%

1,199,824

1,238,460

Chase Coml Mtg Secs Corp

Corporate Fixed Income

01/15/32

7.03%

427,115

458,897

Chase Manhattan Auto Owner Tr

Corporate Fixed Income

06/15/07

6.26%

950,625

943,208

 

S-1


2002
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

 

(a)

   

(b) Identity of issue,
borrower, lessor
or similar party

(c) Description of investment including
maturity date rate of interest,
    collateral, par or maturity value

(d) Cost

          

(e) Current Value
            

Citibank Cr Card Issuance Tr

Corporate Fixed Income

12/07/06

4.10%

2,002,188

2,081,756

Citibank Cr Card Issuance Tr

Corporate Fixed Income

06/10/06

3.97%

1,300,406

1,299,909

Citibank Cr Card Master Tr I

Corporate Fixed Income

08/15/06

1,093,875

1,167,127

Citigroup Inc

Corporate Fixed Income

12/01/05

6.75%

1,234,146

1,278,766

Conseco Fin Securitizations

Corporate Fixed Income

05/01/31

7.30%

897,275

878,382

CWMBS Inc Pass Thru Ctfs

Corporate Fixed Income

06/19/31

4.17%

352,445

349,562

Daimlerchrysler Auto Tr

Corporate Fixed Income

11/08/04

6.11%

1,035,982

1,009,783

Daimlerchrysler Auto Tr

Corporate Fixed Income

03/08/06

6.70%

1,955,263

1,983,419

Deutsche Mortgage & Asset Receiving

Corporate Fixed Income

09/15/07

6.22%

360,966

391,739

European Invt Bk

Corporate Fixed Income

01/24/06

5.63%

821,560

876,720

First Rep Mtg Ln Tr V/R

Corporate Fixed Income

06/25/30

4.38%

473,869

473,418

Ford Cr Auto Owner Tr

Corporate Fixed Income

02/15/05

4.83%

1,710,693

1,693,690

General Elec Cap Corp M/T/N

Corporate Fixed Income

06/15/07

5.00%

1,492,290

1,588,275

General Motors Accept Corp

Corporate Fixed Income

06/17/04

6.85%

809,185

807,108

General Mtrs Accep Corp

Corporate Fixed Income

09/15/06

6.13%

331,487

330,242

General Mtrs Accep Corp

Corporate Fixed Income

06/15/04

7.63%

370,962

367,518

Green Tree Finl Corp

Corporate Fixed Income

01/15/26

217,941

222,798

GTE Fla Inc

Corporate Fixed Income

11/15/05

6.25%

386,761

405,323

IFC Sbap 97-1A V/R

Corporate Fixed Income

01/15/24

658,792

651,583

Internatl Bk For Re Dev6.0152

Corporate Fixed Income

06/21/04

6.02%

532,140

558,875

J P Morgan Chase & Co

Corporate Fixed Income

08/15/06

5.63%

512,498

529,541

Kfw Intl Fin M/T/N

Corporate Fixed Income

03/09/06

5.25%

716,534

758,353

Mellon Auto Grantor Tr

Corporate Fixed Income

10/15/06

7.18%

509,826

523,517

Metropolitan Life In Co Surplus Nt Restr

Corporate Fixed Income

11/01/03

6.30%

1,015,030

1,083,002

Missouri Higher Ed Ln Auth Student Ln

Corporate Fixed Income

07/25/08

2.35%

748,546

750,211

Nissan Auto Receivables 2001-B

Corporate Fixed Income

10/15/06

5.35%

1,424,962

1,493,159

Nissan Auto Receivables 2001-C

Corporate Fixed Income

02/15/07

4.80%

1,824,809

1,915,110

Nissan Auto Receivables 2001-C

Corporate Fixed Income

05/16/05

4.31%

1,421,875

1,426,640

Nissan Auto Receivables 2002 A

Corporate Fixed Income

09/15/05

3.58%

1,599,811

1,631,472

Nissan Auto Receivables 2002 B

Corporate Fixed Income

12/15/05

3.99%

1,799,978

1,849,184

Residential Accredit Lns Inc

Corporate Fixed Income

12/25/16

6.00%

1,110,839

1,117,937

Sears Cr Account Master Tr Ii

Corporate Fixed Income

11/15/07

7.25%

871,367

868,931

Sears Cr Account Master Tr Ii

Corporate Fixed Income

10/16/08

5.25%

1,387,998

1,397,317

Sequoia Mtg Tr 2

Corporate Fixed Income

10/25/24

6.09%

851,486

841,380

Slm Student Ln Tr

Corporate Fixed Income

10/26/09

1.20%

1,350,316

1,349,676

Slm Student Ln Tr

Corporate Fixed Income

10/25/10

1.58%

1,402,247

1,398,985

Structured Asset Mtg Invts Inc

Corporate Fixed Income

11/25/13

6.13%

567,688

627,058

TMS SBA Ln Tr

Corporate Fixed Income

01/15/25

6.02%

312,002

314,966

TMS SBA Ln Tr

Corporate Fixed Income

04/15/24

4.23%

508,434

522,959

TMS SBA Ln Tr V/R

Corporate Fixed Income

01/15/25

6.50%

467,982

474,544

Tyco Intl Grp Sa

Corporate Fixed Income

06/15/05

6.38%

395,501

363,750

Union Planters Mtg Fin Corp

Corporate Fixed Income

04/01/29

6.25%

440,707

448,232

Verizon Global Fdg Corp

Corporate Fixed Income

12/01/05

6.75%

292,803

314,899

 

S-2


2002
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)

   

(b) Identity of issue,
borrower, lessor
or similar party

(c) Description of investment including
maturity date rate of interest,
    collateral, par or maturity value

(d) Cost

          

(e) Current Value
            

Virginia Elec & Pwr Co

Corporate Fixed Income

03/31/06

5.75%

484,628

499,526

Wachovia Asset Securitization

Corporate Fixed Income

10/25/33

6.25%

880,952

866,245

Washington Mut Mtg Secs Corp

Corporate Fixed Income

04/25/28

6.76%

402,894

403,547

Washington Mut Mtg Secs Corp

Corporate Fixed Income

11/25/30

4.93%

823,767

837,930

Abn Amro Mtg Corp

Corporate Fixed Income

04/25/17

6.50%

287,196

288,460

Amerada Hess Corp

Corporate Fixed Income

03/15/33

7.13%

25,920

26,637

American Gen Corp

Corporate Fixed Income

07/01/30

8.50%

95,362

98,016

Ameritech Capital 6.25 18May2009

Corporate Fixed Income

05/18/09

6.25%

146,679

150,178

Aol Time Warner Inc

Corporate Fixed Income

04/15/31

7.63%

119,250

133,611

AT&T Corp

Corporate Fixed Income

03/15/13

6.50%

100,650

110,344

AT&T Corp

Corporate Fixed Income

11/15/11

7.80%

61,600

76,511

Avalonbay Cmntys Inc M/T/N

Corporate Fixed Income

12/15/10

7.50%

53,911

55,976

Avalonbay Cmntys Inc M/T/N

Corporate Fixed Income

09/15/11

6.63%

25,884

26,660

Bank Amer Corp

Corporate Fixed Income

02/15/10

7.80%

75,551

77,318

Bank Amer Corp

Corporate Fixed Income

01/15/08

3.88%

99,645

101,444

British Telecommunications

Corporate Fixed Income

12/15/30

8.88%

61,440

63,745

Burlington Northn Santa Fe

Corporate Fixed Income

07/01/12

5.90%

103,904

108,461

Chase Coml Mtg Secs Corp

Corporate Fixed Income

01/15/32

7.20%

271,943

292,751

Chase Manhattan Auto Owner Tr

Corporate Fixed Income

06/15/07

6.26%

579,584

576,405

Chase Manhattan Corp New

Corporate Fixed Income

06/01/07

7.25%

53,882

55,676

Chrysler Corp

Corporate Fixed Income

03/01/27

7.45%

50,329

54,198

Citibank Cr Card Issuance Tr

Corporate Fixed Income

05/15/07

4.40%

324,851

341,920

Citigroup Inc

Corporate Fixed Income

10/01/10

7.25%

386,829

400,500

Citigroup Inc

Corporate Fixed Income

05/10/06

5.75%

401,689

423,376

Comcast Cable Communications

Corporate Fixed Income

01/30/11

6.75%

182,049

197,691

Comcast Cable Communications

Corporate Fixed Income

01/30/06

6.38%

185,450

204,027

Conoco Funding Co 6.35 15Oct2011

Corporate Fixed Income

10/15/11

6.35%

258,279

279,170

Consumers Energy Co

Corporate Fixed Income

03/15/05

6.00%

39,429

39,650

Continental Airls Pass Thru

Corporate Fixed Income

08/02/20

6.55%

82,105

77,825

Credit Suisse First Boston Mtg

Corporate Fixed Income

11/11/30

6.30%

136,660

139,127

Credit Suisse First Boston Usa

Corporate Fixed Income

01/15/08

4.63%

74,930

76,025

Credit Suisse First Boston Usa

Corporate Fixed Income

11/15/11

6.13%

116,046

119,990

D0Minion Res Inc Va New

Corporate Fixed Income

06/15/10

8.13%

40,620

40,719

Daimler Chysler Auto Trust

Corporate Fixed Income

01/06/05

7.23%

483,912

482,026

Daimlerchrysler Auto Tr

Corporate Fixed Income

12/06/06

4.63%

404,594

419,795

Devon Energy Corp

Corporate Fixed Income

04/15/32

7.95%

108,693

120,221

DLJ Coml Mtg Corp

Corporate Fixed Income

02/18/31

6.41%

213,461

223,252

Dominion Res Inc Del

Corporate Fixed Income

12/15/09

5.13%

49,777

50,656

Dow Chem Co

Corporate Fixed Income

02/01/11

6.13%

121,979

123,647

Dow Chem Co

Corporate Fixed Income

01/15/09

5.97%

49,987

52,445

Dow Chemical Co 7.375 01Nov29

Corporate Fixed Income

11/01/29

7.38%

29,908

32,463

Dte Energy Co

Corporate Fixed Income

06/01/06

6.45%

199,518

209,830

El Paso Nat Gas Co

Corporate Fixed Income

11/15/26

7.50%

41,953

31,725

 

S-3

 


2002
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)

   

(b) Identity of issue,
borrower, lessor
or similar party

(c) Description of investment including
maturity date rate of interest,
    collateral, par or maturity value

(d) Cost

          

(e) Current Value
           

El Paso Nat Gas Co

Corporate Fixed Income

06/15/32

8.38%

96,528

70,775

Eop Oper Ltd Partnership

Corporate Fixed Income

07/15/11

7.00%

123,275

130,747

Exelon Corp

Corporate Fixed Income

05/01/11

6.75%

72,431

76,622

F N M A Pool # 53911

Corporate Fixed Income

05/01/31

6.50%

920,631

859,477

Firstenergy Corp

Corporate Fixed Income

11/15/31

7.38%

128,287

130,866

Fleetboston Finl Corp

Corporate Fixed Income

12/01/06

4.88%

50,083

52,029

Fleetboston Finl Corp M/T/N

Corporate Fixed Income

11/30/07

4.20%

99,855

100,578

Ford Cr Auto Owner Tr

Corporate Fixed Income

02/15/05

4.83%

566,810

564,563

Ford Cr Auto Owner Tr

Corporate Fixed Income

10/15/04

5.12%

676,692

675,487

Ford Mtr Cr Co

Corporate Fixed Income

10/28/09

7.38%

299,025

297,258

Ford Mtr Cr Co

Corporate Fixed Income

02/01/11

7.38%

189,204

204,202

Ford Mtr Cr Co

Corporate Fixed Income

02/01/06

6.88%

71,431

70,123

General Elec Cap Corp M/T/N

Corporate Fixed Income

03/30/06

5.35%

130,556

134,003

General Elec Cap Corp M/T/N

Corporate Fixed Income

01/15/08

4.25%

114,300

117,938

General Elec Cap Corp M/T/N

Corporate Fixed Income

01/15/13

5.45%

119,629

124,649

General Elec Cap Corp M/T/N

Corporate Fixed Income

06/15/12

6.00%

156,632

161,951

General Elec Cap Corp M/T/N

Corporate Fixed Income

02/15/12

5.88%

73,434

74,836

General Elec Cap Corp M/T/N

Corporate Fixed Income

01/19/10

7.38%

40,630

40,654

General Elec Cap Corp M/T/N

Corporate Fixed Income

02/22/11

6.13%

191,325

205,776

General Mls Inc

Corporate Fixed Income

02/15/12

6.00%

126,638

141,393

General Mls Inc

Corporate Fixed Income

02/15/07

5.13%

78,790

79,682

General Mtrs Accep Corp

Corporate Fixed Income

08/28/12

6.88%

149,084

152,791

General Mtrs Accep Corp

Corporate Fixed Income

09/15/11

6.88%

157,636

169,534

General Mtrs Accep Corp

Corporate Fixed Income

01/15/06

6.75%

144,677

144,988

General Mtrs Accep Corp

Corporate Fixed Income

03/02/11

7.25%

317,344

315,899

Gmac Commercial Mortgage Secur

Corporate Fixed Income

05/15/33

6.18%

379,955

389,690

Heller Finl Coml Mtg Asset Corp

Corporate Fixed Income

05/15/31

6.85%

256,729

257,625

Honeywell Intl Inc

Corporate Fixed Income

11/01/11

6.13%

129,878

141,185

Honeywell Intl Inc

Corporate Fixed Income

03/01/10

7.50%

28,613

29,216

Household Fin Corp

Corporate Fixed Income

11/15/08

6.50%

43,230

53,761

Household Fin Corp

Corporate Fixed Income

10/15/11

6.38%

40,212

41,820

Household Finance Corp

Corporate Fixed Income

02/01/09

5.88%

129,746

143,697

J P Morgan Chase & Co

Corporate Fixed Income

02/01/11

6.75%

90,766

92,414

J P Morgan Chase Coml Mtg Secs

Corporate Fixed Income

03/15/33

6.26%

408,223

417,575

Kellogg Co

Corporate Fixed Income

04/01/06

6.00%

218,651

227,625

Kfw Intl Fin Inc

Corporate Fixed Income

01/24/07

4.75%

151,258

161,172

Kinder Morgan Energy Partners

Corporate Fixed Income

08/15/33

7.30%

146,228

155,449

Kohls Corp

Corporate Fixed Income

03/01/11

6.30%

32,312

33,260

Kraft Foods Inc

Corporate Fixed Income

06/01/07

5.25%

84,554

91,810

Kraft Foods Inc

Corporate Fixed Income

11/01/11

5.63%

63,083

69,489

Lehman Brothers Hldgs Inc

Corporate Fixed Income

01/15/05

7.75%

197,725

197,478

Lehman Brothers Hldgs Inc

Corporate Fixed Income

05/15/06

6.25%

187,290

196,801

Lockheed Martin

Corporate Fixed Income

05/01/36

7.20%

168,912

184,524

 

S-4


2002
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)

   

(b) Identity of issue,
borrower, lessor
or similar party

(c) Description of investment including
maturity date rate of interest,
    collateral, par or maturity value

(d) Cost

          

(e) Current Value
          

MBNA Master Cr Card Tr Ii

Corporate Fixed Income

12/15/06

6.35%

263,711

267,499

Metlife Inc

Corporate Fixed Income

12/01/11

6.13%

45,188

48,571

Morgan Stanley

Corporate Fixed Income

04/01/07

5.80%

80,804

81,356

Morgan Stanley Cap I Inc

Corporate Fixed Income

11/15/30

6.48%

204,977

213,312

Morgan Stanley Co

Corporate Fixed Income

04/15/06

6.10%

52,882

54,468

Morgan Stanley Co

Corporate Fixed Income

04/15/11

6.75%

137,344

150,021

Mortgage Cap Fdg Inc

Corporate Fixed Income

06/18/30

6.42%

238,280

251,556

Northrop Grumman Corp

Corporate Fixed Income

02/15/11

7.13%

57,709

62,512

Progress Energy Inc

Corporate Fixed Income

04/15/12

6.85%

51,369

54,749

Progress Energy Inc

Corporate Fixed Income

10/30/08

5.85%

29,088

31,761

Progress Energy Inc

Corporate Fixed Income

03/01/31

7.75%

94,555

113,653

Progress Energy Inc

Corporate Fixed Income

03/01/06

6.75%

166,194

171,851

Progressive Corp Ohio

Corporate Fixed Income

10/01/13

7.00%

85,308

85,941

Qwest Cap Fdg Inc

Corporate Fixed Income

08/03/09

7.00%

76,475

60,800

Raytheon Co

Corporate Fixed Income

11/15/07

4.50%

39,991

40,644

SBC Communications Inc

Corporate Fixed Income

02/01/12

5.88%

24,931

27,002

SBC Communications Inc

Corporate Fixed Income

03/15/11

6.25%

27,135

27,561

Sears Roebuck Accep Corp

Corporate Fixed Income

06/01/32

7.00%

86,122

79,638

Sears Roebuck Accep Corp

Corporate Fixed Income

04/15/12

6.70%

144,354

147,129

Sears Roebuck Acceptance

Corporate Fixed Income

05/01/09

6.25%

22,500

23,963

Slm Student Ln Tr

Corporate Fixed Income

10/25/10

1.58%

287,674

286,971

Slm Student Ln Tr

Corporate Fixed Income

04/25/10

3.74%

236,852

236,892

Tennessee Gas Pipeline Co

Corporate Fixed Income

06/15/32

8.38%

51,276

43,500

Texas Eastn Transmission Corp

Corporate Fixed Income

07/15/32

7.00%

71,544

78,473

Time Warner Inc

Corporate Fixed Income

02/01/24

7.57%

176,154

215,703

Time Warner Inc Deb

Corporate Fixed Income

01/15/13

9.13%

76,275

105,559

Turner Broadcasting Sys Inc Sr Nt

Corporate Fixed Income

07/01/13

8.38%

47,500

56,333

Tyco Intl Group S A

Corporate Fixed Income

08/01/06

5.80%

43,000

47,250

Tyco Intl Group Sa

Corporate Fixed Income

10/15/11

6.38%

51,300

56,100

Tyco Intl Grp Sa

Corporate Fixed Income

06/15/05

6.38%

78,300

82,450

Tycointl Gr Sa6.375 15Feb2006

Corporate Fixed Income

02/15/06

6.38%

26,625

29,100

U S Bancorp M/T/N

Corporate Fixed Income

08/23/07

3.95%

124,773

127,800

Unilever Cap Corp

Corporate Fixed Income

11/15/32

5.90%

79,610

81,834

Verizon Global Fdg Corp

Corporate Fixed Income

06/15/32

7.75%

68,635

82,053

Verizon Md Inc

Corporate Fixed Income

03/01/12

6.13%

52,901

54,064

Verizon Pennsylvania

Corporate Fixed Income

11/15/11

5.65%

236,720

272,602

Virginia Elec & Pwr Co

Corporate Fixed Income

03/31/06

5.75%

104,221

107,425

Vodafone Airtouch Plc

Corporate Fixed Income

02/15/30

7.88%

32,299

36,155

Wellpoint Health Networks Inc

Corporate Fixed Income

06/15/06

6.38%

61,936

65,455

Wells Fargo Mtg Backed Secs

Corporate Fixed Income

12/25/16

6.00%

332,132

334,364

Weyerhaeuser Co

Corporate Fixed Income

12/15/09

5.25%

99,360

101,115

Weyerhaeuser Co

Corporate Fixed Income

03/15/12

6.75%

184,777

196,261

Weyerhaeuser Co

Corporate Fixed Income

03/15/32

7.38%

75,598

81,340

 

S-5


2002
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)

   

(b) Identity of issue,
borrower, lessor
or similar party

(c) Description of investment including
maturity date rate of interest,
    collateral, par or maturity value

(d) Cost

          

(e) Current Value
           

Future T-Note 10Yr Cbot 100,000Usd/Cbot

Financial Futures

03/20/03

-

-

Future T-Note 5Yr 100,000Usd/Cbot

Financial Futures

03/22/03

-

-

Future U S T-Bond 100,000Usd/Cbot

Financial Futures

03/22/03

-

-

Federal Home Ln Mtg Corp

Gov't Assets And Mortg. Backed

08/15/07

6.50%

657,478

659,763

Federal Natl Mtg Assn Gtd Remic

Gov't Assets And Mortg. Backed

02/25/32

3.31%

760,344

826,251

Federal Nat'l Mtge Assn Pool # 44175

Gov't Assets And Mortg. Backed

11/01/03

6.00%

566

570

Federal Nat'l Mtge Assn Pool # 57375

Gov't Assets And Mortg. Backed

04/01/09

7.25%

229,009

229,746

Federal Nat'l Mtge Assn Pool # 86643

Gov't Assets And Mortg. Backed

06/01/29

5.22%

12,863

13,443

Federal Nat'l Mtge Assn Pool # 251904

Gov't Assets And Mortg. Backed

08/01/08

6.00%

498,421

541,699

Federal Nat'l Mtge Assn Pool # 252317

Gov't Assets And Mortg. Backed

02/01/09

5.50%

827,134

875,725

Federal Nat'l Mtge Assn Pool # 303567

Gov't Assets And Mortg. Backed

07/01/09

5.50%

810,387

857,589

Federal Nat'l Mtge Assn Pool # 313179

Gov't Assets And Mortg. Backed

09/01/11

6.00%

2,113,590

2,180,889

Federal Nat'l Mtge Assn Pool # 313829

Gov't Assets And Mortg. Backed

01/01/11

6.50%

749,204

822,385

Federal Nat'l Mtge Assn Pool # 323362

Gov't Assets And Mortg. Backed

11/01/28

6.00%

54,580

57,803

Federal Nat'l Mtge Assn Pool # 323395

Gov't Assets And Mortg. Backed

05/01/13

6.00%

563,679

585,257

Federal Nat'l Mtge Assn Pool # 323952

Gov't Assets And Mortg. Backed

07/01/09

6.00%

1,230,225

1,337,259

Federal Nat'l Mtge Assn Pool # 537950

Gov't Assets And Mortg. Backed

02/01/24

4.50%

1,075,386

1,087,557

Federal Nat'l Mtge Assn Pool # 542141

Gov't Assets And Mortg. Backed

08/01/22

4.52%

561,174

563,224

Federal Nat'l Mtge Assn Pool # 545036

Gov't Assets And Mortg. Backed

12/01/10

6.00%

675,792

697,741

Federal Nat'l Mtge Assn Pool # 545142

Gov't Assets And Mortg. Backed

11/01/10

6.00%

1,270,504

1,319,570

Federal Nat'l Mtge Assn Pool # 545828

Gov't Assets And Mortg. Backed

12/01/14

6.00%

1,281,274

1,303,527

Federal Nat'l Mtge Assn Pool # 0323331

Gov't Assets And Mortg. Backed

11/01/08

6.50%

978,318

1,022,210

FHLMC Corp Grp # 775626

Gov't Assets And Mortg. Backed

09/01/23

5.20%

780,249

803,274

FHLMC Corp Grp # E65216

Gov't Assets And Mortg. Backed

07/01/10

6.00%

1,087,860

1,131,110

FHLMC Corp Grp # E65283

Gov't Assets And Mortg. Backed

06/01/09

6.00%

484,273

503,585

FHLMC Corp Grp # 788612

Gov't Assets And Mortg. Backed

03/01/31

7.31%

291,573

299,365

FHLMC Corp Grp # E00247

Gov't Assets And Mortg. Backed

10/01/08

5.50%

818,947

864,278

FHLMC Corp Grp # E00564

Gov't Assets And Mortg. Backed

07/01/13

5.50%

1,024,762

1,077,728

FHLMC Corp Grp # E00565

Gov't Assets And Mortg. Backed

08/01/13

6.00%

1,023,225

1,064,934

FHLMC Corp Grp # E20193

Gov't Assets And Mortg. Backed

09/01/10

6.50%

167,766

175,223

FHLMC Corp Grp # E71201

Gov't Assets And Mortg. Backed

07/01/13

5.50%

165,939

174,516

FHLMC Corp Grp # E84812

Gov't Assets And Mortg. Backed

02/01/09

6.00%

846,351

874,549

Gov't Nat'l Mgt Assn Pool# 412330

Government Assets And Mortgage Backed

09/15/12

7.00%

237,908

253,903

Gov't Nat'l Mtge Assn Pool # 326849

Gov't Assets And Mortg. Backed

12/15/07

7.00%

11,304

12,039

Gov't Nat'l Mtge Assn Pool # 331394

Gov't Assets And Mortg. Backed

12/15/07

7.00%

171,945

183,121

Gov't Nat'l Mtge Assn Pool # 335037

Gov't Assets And Mortg. Backed

10/15/07

7.00%

40,490

43,122

Gov't Nat'l Mtge Assn Pool # 335606

Gov't Assets And Mortg. Backed

12/15/07

7.00%

190,813

203,561

Gov't Nat'l Mtge Assn Pool # 345352

Gov't Assets And Mortg. Backed

09/15/08

7.00%

91,401

97,601

Gov't Nat'l Mtge Assn Pool # 346815

Gov't Assets And Mortg. Backed

10/15/08

7.00%

184,672

197,253

Gov't Nat'l Mtge Assn Pool # 359290

Gov't Assets And Mortg. Backed

09/15/08

7.00%

133,704

142,815

Gov't Nat'l Mtge Assn Pool # 363744

Gov't Assets And Mortg. Backed

09/15/08

7.00%

195,145

208,875

Gov't Nat'l Mtge Assn Pool # 368788

Gov't Assets And Mortg. Backed

10/15/08

7.00%

26,510

28,317

 

S-6


2002
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)

   

(b) Identity of issue,
borrower, lessor
or similar party

(c) Description of investment including
maturity date rate of interest,
    collateral, par or maturity value

(d) Cost

         

(e) Current Value
           

Gov't Nat'l Mtge Assn Pool # 780487

Gov't Assets And Mortg. Backed

04/15/06

7.25%

176,680

177,498

Gov't Nat'l Mtge Assn Pool # 780985

Gov't Assets And Mortg. Backed

12/15/08

6.00%

490,780

541,626

Gov't Nat'l Mtge Assn Pool # 781284

Gov't Assets And Mortg. Backed

02/15/11

6.00%

679,620

719,671

Slm Student Ln Tr

Gov't Assets And Mortgage Backed

07/25/06

2.41%

352,199

351,678

Federal Natl Mtg Assn Remic Tr

Gov't Assets And Mortgage Backed

12/25/08

6.00%

417,594

422,065

Federal Nat'l Mtge Assn Pool # 323784

Gov't Assets And Mortg. Backed

05/01/09

5.99%

235,291

249,233

Federal Nat'l Mtge Assn Pool # 385538

Gov't Assets And Mortg. Backed

11/01/12

4.79%

225,035

234,605

Federal Nat'l Mtge Assn Pool # 575493

Gov't Assets And Mortg. Backed

04/01/17

5.50%

39,365

45,319

Federal Nat'l Mtge Assn Pool # 589084

Gov't Assets And Mortg. Backed

09/01/31

6.50%

883,810

893,027

Federal Nat'l Mtge Assn Pool# 583058

Gov't Assets And Mortg. Backed

05/01/16

6.00%

805,196

831,976

FHLMC Corp Grp # C49499

Gov't Assets And Mortg. Backed

04/01/31

6.50%

52,788

53,263

FHLMC Corp Grp # C63679

Gov't Assets And Mortg. Backed

02/01/32

6.00%

192,643

195,872

FHLMC Corp Grp # E88292

Gov't Assets And Mortg. Backed

03/01/17

6.00%

90,286

90,915

FHLMC Corp Grp # E88791

Gov't Assets And Mortg. Backed

03/01/17

6.00%

26,182

26,964

FHLMC Corp Grp # E88978

Gov't Assets And Mortg. Backed

04/01/17

5.50%

304,832

308,438

FHLMC Corp Grp # E88993

Gov't Assets And Mortg. Backed

04/01/17

6.00%

645,291

649,787

FHLMC Corp Grp # E89206

Gov't Assets And Mortg. Backed

03/01/17

6.00%

92,795

95,568

FHLMC Corp Grp # E89704

Gov't Assets And Mortg. Backed

05/01/17

6.00%

119,036

122,594

FHLMC Corp Grp # E89931

Gov't Assets And Mortg. Backed

05/01/17

6.00%

671,367

676,045

FHLMC Corp Grp # E91860

Gov't Assets And Mortg. Backed

10/01/17

5.50%

708,761

717,145

FHLMC Corp Grp # C01172

Gov't Assets And Mortg. Backed

05/01/31

6.50%

451,934

456,007

FHLMC Corp Grp # E01049

Gov't Assets And Mortg. Backed

09/01/16

6.00%

64,497

64,984

FHLMC Corp Grp # E01139

Gov't Assets And Mortg. Backed

04/01/17

6.00%

88,155

90,789

FHLMC Corp Grp # E88959

Gov't Assets And Mortg. Backed

04/01/17

6.00%

87,777

90,452

FHLMC Corp Grp # E89092

Gov't Assets And Mortg. Backed

04/01/17

6.00%

228,238

229,828

FHLMC Corp Grp # E89309

Gov't Assets And Mortg. Backed

04/01/17

6.00%

657,269

676,912

FHLMC Corp Grp # E89310

Gov't Assets And Mortg. Backed

04/01/17

6.00%

615,472

633,866

FHLMC Corp Grp # E89777

Gov't Assets And Mortg. Backed

05/01/17

6.00%

254,759

262,595

FHLMC Corp Grp # E89881

Gov't Assets And Mortg. Backed

05/01/17

6.00%

260,029

261,841

FHLMC Corp Grp # E90227

Gov't Assets And Mortg. Backed

06/01/17

6.00%

261,708

267,657

FHLMC Corp Grp # E90818

Gov't Assets And Mortg. Backed

08/01/17

5.50%

465,667

477,054

FHLMC Corp Grp # E91030

Gov't Assets And Mortg. Backed

08/01/17

6.00%

481,686

491,958

FNMA TBA 15Yr Sfm 05.00% Jan

Gov't Assets And Mortgage Backed

01/01/17

303,188

307,218

FNMA TBA 15Yr Sfm 05.50% Jan

Gov't Assets And Mortgage Backed

01/01/16

102,719

103,594

FNMA TBA 15Yr Sfm 06.00% Jan

Gov't Assets And Mortgage Backed

01/01/16

3,124,453

3,135,000

FNMA TBA 30Yr Sfm 06.00% Jan

Gov't Assets And Mortgage Backed

01/01/33

922,500

930,096

FNMA TBA 30Yr Sfm 06.50% Jan

Gov't Assets And Mortgage Backed

01/01/32

4,231,672

4,267,854

FNMA TBA 30Yr Sfm 07.00% Jan

Gov't Assets And Mortgage Backed

01/01/33

313,031

315,468

Gov't Nat'l Mtge Assn Pool # 499416

Gov't Assets And Mortg. Backed

02/15/29

6.00%

29,339

29,745

Gov't Nat'l Mtge Assn Pool # 582386

Gov't Assets And Mortg. Backed

10/15/32

6.00%

1,448,634

1,466,228

Gov't Nat'l Mtge Assn Pool # 585333

Gov't Assets And Mortg. Backed

10/15/32

6.00%

26,999

27,327

Gov't Nat'l Mtge Assn Pool # 589206

Gov't Assets And Mortg. Backed

10/15/32

6.00%

30,922

31,297

Gov't Nat'l Mtge Assn Pool # 597719

Gov't Assets And Mortg. Backed

10/15/32

6.00%

970,323

982,108

 

S-7


2002
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)

   

(b) Identity of issue,
borrower, lessor
or similar party

(c) Description of investment including
maturity date rate of interest,
    collateral, par or maturity value

(d) Cost

         

(e) Current Value
          

Gov't Nat'l Mtge Assn Pool # 599742

Gov't Assets And Mortg. Backed

10/15/32

6.00%

34,134

34,548

Student Loan Mtg Assoc

Gov't Assets And Mortgage Backed

01/25/07

1.87%

141,770

141,467

European Invt Bank

Government Fixed Income

02/03/05

5.63%

1,954,701

2,044,780

Federal Home Ln Mtg Corp

Government Fixed Income

01/15/06

5.25%

880,777

896,156

Federal Home Ln Mtg Corp Deb

Government Fixed Income

03/22/06

1,760,391

1,799,219

Federal Natl Mtg Assn

Government Fixed Income

02/15/06

5.50%

2,114,227

2,132,813

Federal Natl Mtg Assn

Government Fixed Income

01/15/07

5.00%

5,184,851

5,230,602

Federal Natl Mtg Assn

Government Fixed Income

03/22/07

5.25%

2,522,000

2,538,672

Federal Natl Mtg Assn M/T/N

Government Fixed Income

05/03/05

4.45%

1,500,000

1,560,469

Federal Natl Mtg Assn M/T/N

Government Fixed Income

08/27/04

3.70%

1,304,063

1,304,469

Federal Natl Mtge Assn M/T/N

Government Fixed Income

07/15/04

3.15%

1,824,088

1,842,680

U S Treas Nts

Government Fixed Income

05/15/07

4.38%

2,496,741

2,496,469

U S Treas Nts

Government Fixed Income

06/30/04

2.88%

503,789

511,094

U S Treasury Bonds

Government Fixed Income

11/15/09

10.38%

1,976,117

1,969,344

U S Treasury Notes

Government Fixed Income

02/29/04

3.00%

50,955

51,000

U S Treasury Notes

Government Fixed Income

08/15/09

6.00%

333,500

337,216

U S Treasury Nts

Government Fixed Income

04/30/04

3.38%

5,041,493

5,084,578

U S Treasury Nts

Government Fixed Income

11/30/04

2.00%

12,824,538

12,918,084

United States Treas Nts

Government Fixed Income

05/31/04

3.25%

16,697,415

16,727,836

United States Treas Nts

Government Fixed Income

11/15/04

5.88%

5,990,316

6,037,200

United States Treas Nts

Government Fixed Income

01/31/04

3.00%

3,015,099

3,081,719

United States Treas Nts

Government Fixed Income

05/15/05

6.75%

13,038,861

13,307,525

United States Treas Nts

Government Fixed Income

11/15/05

5.75%

82,840

82,898

Canadian Natl Ry Co

Government Fixed Income

10/15/31

7.38%

113,587

121,288

Federal Home Ln Mtg Corp

Government Fixed Income

03/15/07

4.88%

535,870

540,313

Federal Home Ln Mtg Corp

Government Fixed Income

10/11/12

4.75%

297,846

303,094

Federal Home Ln Mtg Corp

Government Fixed Income

07/23/07

4.50%

256,958

260,156

Federal Home Ln Mtg Corp

Government Fixed Income

07/15/06

5.50%

507,138

511,209

Federal Natl Mtg Assn

Government Fixed Income

05/15/11

6.00%

1,073,268

1,096,403

Federal Natl Mtg Assn

Government Fixed Income

01/15/07

5.00%

399,486

406,523

HSBC Holdings Plc Nt

Government Fixed Income

12/12/12

5.25%

49,870

51,249

Resolution Fdg Corp Fed Book

Government Fixed Income

10/15/18

27,176

32,040

Resolution Fdg Corp Fed Book

Government Fixed Income

07/15/18

27,622

32,606

U S Treas Nts

Government Fixed Income

11/15/07

3.00%

59,813

60,731

U S Treasury Bonds

Government Fixed Income

08/15/26

6.75%

929,880

969,719

U S Treasury Bonds

Government Fixed Income

08/15/19

8.13%

1,343,977

1,441,561

U S Treasury Bonds

Government Fixed Income

02/15/16

9.25%

210,180

215,189

U S Treasury Bonds

Government Fixed Income

11/15/21

8.00%

2,381,120

2,445,483

U S Treasury Bonds

Government Fixed Income

02/15/20

8.50%

2,348,765

2,378,578

U S Treasury Notes

Government Fixed Income

02/29/04

3.00%

407,641

408,000

U S Treasury Notes

Government Fixed Income

08/15/09

6.00%

488,850

494,195

U S Treasury Notes

Government Fixed Income

02/15/10

6.50%

1,363,970

1,386,563

U S Treasury Stripped

Government Fixed Income

11/15/21

715,429

827,544

 

S-8


2002
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)

   

(b) Identity of issue,
borrower, lessor
or similar party

(c) Description of investment including
maturity date rate of interest,
    collateral, par or maturity value

(d) Cost

         

(e) Current
Value
          

United Mexican Sts M/T/N

Government Fixed Income

01/14/11

8.38%

382,282

406,800

United Mexican Sts Medium Term

Government Fixed Income

09/24/22

8.00%

97,248

103,500

United States Treas Nts

Government Fixed Income

11/15/12

4.00%

477,956

476,609

California St Dept Wtr Res Pwr Supply

Government Fixed Income

05/01/04

3.59%

525,000

528,927

California St Dept Wtr Res Pwr

Government Fixed Income

05/01/05

3.98%

99,989

101,358

Amresco Independence Fdg Inc

Other Fixed Income

06/15/26

1,033,932

1,032,461

Bayview Finl Acquisition Tr 144A *Pp*

Other Fixed Income

05/25/29

7.01%

583,026

591,932

Business Ln Ctr Inc V/R Restr

Other Fixed Income

01/15/25

816,567

932,999

FMAC Ln Receivables Tr *Pp*

Other Fixed Income

11/15/04

5.99%

431,230

439,642

Gs Mtg Secs Corp

Other Fixed Income

03/20/23

1.75%

644,324

638,122

Pbg Equip Tr 144A

Other Fixed Income

01/20/12

6.27%

855,659

900,348

Ryder Veh Lease Tr *Pp*

Other Fixed Income

09/15/08

6.10%

154,963

155,455

ASIF Global Fing XVIII

Other Fixed Income

11/26/07

3.85%

199,640

205,058

Barclays Bk Plc

Other Fixed Income

06/15/11

8.55%

156,470

164,793

Barclays Bk Plc V/R *Pp*

Other Fixed Income

06/15/32

6.86%

114,591

117,818

Conocophillips

Other Fixed Income

10/15/32

5.90%

48,963

49,716

Oncor Elec Delivery Co *Pp*

Other Fixed Income

09/01/22

7.00%

19,932

18,648

Oncor Elec Delivery Co *Pp*

Other Fixed Income

01/15/15

6.38%

14,878

15,308

Oncor Elec Delivery Co *Pp*

Other Fixed Income

01/15/33

7.25%

73,928

76,379

Oncor Elec Delivery Co Restr *Pp*

Other Fixed Income

05/01/32

7.00%

43,568

49,987

Bonds and debentures

211,414,740

215,919,928

Svenska Cellulosa Ser B Sek10Ser 'B' Swkr10 Free

International Equity - Common Stock

132,079

138,684

Autoliv Inc USD1 Sswedish Depositary Receipts

International Equity - Common Stock

60,654

57,566

Royal Dutch Petrol EUR 0.56Ord Nlg1.25

International Equity - Common Stock

122,542

132,084

Heidelbergcement AGord Dem

International Equity - Common Stock

147,631

136,304

Basf AG Npv

International Equity - Common Stock

144,191

115,664

Stora Enso Oy Shs Npv Com Stkser R Ord Fim10

International Equity - Common Stock

96,165

68,785

Upm-Kymmene Corp Npvfim10

International Equity - Common Stock

46,849

39,049

Rwe AG (Neu) Npv 'A'

International Equity - Common Stock

23,198

22,821

Total Fina Elf SA EUR 10.0Frf50

International Equity - Common Stock

310,496

299,969

Abn Amro Bank N V EUR 0.56Ord Nlg1.25

International Equity - Common Stock

48,944

49,055

E On AG Npv

International Equity - Common Stock

287,440

227,450

Volkswagen AG Ord Npv

International Equity - Common Stock

304,928

210,957

Voest-Alpine AG

International Equity - Common Stock

53,477

41,456

Holmen Ab Shs B Sek 50.Ser B Ord Sek50

International Equity - Common Stock

63,416

58,370

Bbva(Bilb-Viz-Arg) EUR0.49EUR0.54

International Equity - Common Stock

73,553

58,388

Dutch State Mines EUR3

International Equity - Common Stock

411,982

400,655

Telefonica SA EUR 1.0Stock Split

International Equity - Common Stock

276,249

251,420

 

S-9


2002
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)

   

(b) Identity of issue,
borrower, lessor
or similar party

(c) Description of investment including
maturity date rate of interest,
    collateral, par or maturity value

(d) Cost

         

(e) Current Value
          

Siemens AG Npv(Regd)(Registered)

International Equity - Common Stock

308,220

208,911

Banco SAntander Cent Hisp EUR 0.5EUR0.5

International Equity - Common Stock

122,442

128,455

Grupo Dragados SA EUR 1.0EUR

International Equity - Common Stock

92,396

95,214

Amb Generali Hldg AG Rfdbete Br Dem5

International Equity - Common Stock

187,613

124,342

Banca Nazionale Del Lavoro EUR 0.5Lavoro Itl1000

International Equity - Common Stock

29,695

29,896

Koninklijke Ahold Nv EUR 0.25Nv EUR0.25

International Equity - Common Stock

44,624

41,908

Delhaize Groupet Cie (Le Lion) SA Npv

International Equity - Common Stock

150,716

61,373

Electrolux Ab Sek 5.0 Ser'B'Ser B Sek5

International Equity - Common Stock

257,218

212,393

Merck Kgaa Dem Npv

International Equity - Common Stock

33,059

43,999

Telecom Italia EUR 0.55Ordinary Shares Itl

International Equity - Common Stock

215,554

208,674

Altana Ind Aktien U.Anl AG Npvdem

International Equity - Common Stock

99,062

89,903

Centerpulse AG Chf 30.0Ord Chf

International Equity - Common Stock

22,569

22,443

Wolters Kluwer Nv EUR 0.12

International Equity - Common Stock

72,178

69,689

Royal+Sun Alliance Ord GBP0.275

International Equity - Common Stock

410,515

186,248

Italmobiliare Di Risp Itl5000(Nonord Itl5000

International Equity - Common Stock

31,663

32,722

Wimpey(George) Ord 25Pord

International Equity - Common Stock

81,926

83,085

Lloyds Tsb Group Plc Ord 25Pplc Ord

International Equity - Common Stock

95,238

63,191

Corus Group Ord GBP0.50

International Equity - Common Stock

49,035

16,716

Shell Trnspt+Trdg GBP0.25Ord

International Equity - Common Stock

92,325

96,801

Cdn Natl Railways Com Npvrailway Co Com

International Equity - Common Stock

94,876

78,504

Persimmon Ord 10P

International Equity - Common Stock

10,216

10,288

Magna Intl Comm Stcl-A Sub Vtg Com Npv

International Equity - Common Stock

107,115

100,590

Bk Of Nova Scotiascotia Ord

International Equity - Common Stock

396,146

402,459

Bce Inc Npv

International Equity - Common Stock

45,825

45,104

Brit Amer Tobacco Ord GBP0.25Tobacco Ord

International Equity - Common Stock

150,921

125,878

Six Continents Ord 28P

International Equity - Common Stock

237,684

172,156

Aviva Plc 25Pord

International Equity - Common Stock

69,350

59,913

SAfeway GBP0.25Ord

International Equity - Common Stock

293,502

243,773

Vodafone USD 0.10Ord USD0.10

International Equity - Common Stock

296,025

368,687

Assurances Generales De France AGffrance Ord Frf30

International Equity - Common Stock

290,626

220,970

Metro AG -St Anfecht Npv

International Equity - Common Stock

80,720

58,396

Hannover Ruckversinamens-Akt.

International Equity - Common Stock

115,022

113,350

Kbc Bankverzekerin Npv

International Equity - Common Stock

132,979

130,771

Karstadt AG Npvnpv

International Equity - Common Stock

36,031

24,402

Iberdrola SA EUR 3.0Sppt500

International Equity - Common Stock

55,941

56,045

Wolseley Ord 25P

International Equity - Common Stock

99,017

78,086

 

 

S-10

 


2002
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)

   

(b) Identity of issue,
borrower, lessor
or similar party

(c) Description of investment including
maturity date rate of interest,
    collateral, par or maturity value

(d) Cost

        

(e) Current Value
          

Banca Intesa Spa EUR 0.52Itl1000

International Equity - Common Stock

195,707

139,443

Omv AG Npvomv AG

International Equity - Common Stock

115,662

128,219

National Grid Transco 10P

International Equity - Common Stock

64,768

67,251

Bt Group Plc GBP 0.05GBP0.05)

International Equity - Common Stock

128,700

103,920

Bk Of Ireland EUR 0.64EUR0.64(Elimination Fraction)

International Equity - Common Stock

302,363

284,477

Whitbread Ord GBP.50

International Equity - Common Stock

111,566

112,364

Royal Bank Canadacom Stk Npv

International Equity - Common Stock

73,405

73,242

Nortel Networks Corp Npv

International Equity - Common Stock

39,790

29,831

Clp Hldgs Hkd5Ord Hkd

International Equity - Common Stock

89,412

88,586

Norske Skogsindust Nok 20.0

International Equity - Common Stock

55,089

41,265

Nippon Telegraph + Telephone Corp

International Equity - Common Stock

175,116

141,340

Deutsche Telekom Npv(Regd)

International Equity - Common Stock

34,557

34,628

Nomura Holdings Inc JPY 50.0Y50

International Equity - Common Stock

161,128

112,010

Australia + New Zealand Bank.Groupgrp

International Equity - Common Stock

225,095

199,335

Promise Cojpy50 Shares

International Equity - Common Stock

277,140

176,780

SAnkyo Company Ltd JPY 50.0JPY50

International Equity - Common Stock

132,040

125,158

Sumitomo Corp Y50

International Equity - Common Stock

112,867

98,281

Tanabe Seiyaku Co Y50

International Equity - Common Stock

90,261

86,936

Takefuji Corp JPY50Ord JPY50

International Equity - Common Stock

286,598

240,885

Tohoku Electric Power Co Inc Y500Y500

International Equity - Common Stock

63,794

71,879

Toyota Motor Corp JPY 50.0Y50

International Equity - Common Stock

224,022

225,487

Nichirei Corp Y50

International Equity - Common Stock

62,211

50,367

Yue Yuen Industrial Hldgsyue Yuen Indl Hk Line

International Equity - Common Stock

78,925

77,865

Nissan Motor Coord JPY50

International Equity - Common Stock

333,804

366,414

Novartis AG Chf 0.5

International Equity - Common Stock

114,264

102,040

Peugeot SA EUR1 (Rfd 01/01/2001)

International Equity - Common Stock

411,614

318,123

Parmalat Finanziana EUR 1.0

International Equity - Common Stock

30,206

23,348

Eni Spa EUR 1.0

International Equity - Common Stock

525,235

548,567

Swiss Reinsurance Chf 0.10

International Equity - Common Stock

141,525

91,205

Arcelor SA (Fr Line)

International Equity - Common Stock

119,336

110,705

Arcelor SA

International Equity - Common Stock

72,850

68,115

Bnp Paribas EUR 2.0

International Equity - Common Stock

469,101

423,837

Compagnie De St-Gobainnpv EURo

International Equity - Common Stock

363,422

251,559

Gjensidige Nor Spb Nok 100Nok

International Equity - Common Stock

68,386

62,443

Talisman Energy In Npvinc Com Npv

International Equity - Common Stock

169,002

136,754

Uny Co Y50(Regd)(Sicovam)JPY50

International Equity - Common Stock

91,059

77,910

Daiichi Pharm Co JPY50Pharmacuetical

International Equity - Common Stock

135,629

100,383

Soc Generale EUR 1.25

International Equity - Common Stock

347,469

343,671

Aisin Seiki Co Y50

International Equity - Common Stock

83,964

82,276

Allied Irish Banks Plc EUR 0.32EUR0.32

International Equity - Common Stock

143,233

167,755

Westpac Banking Corp Npvord Aud1

International Equity - Common Stock

109,847

102,219

Bridgestone Corp JPY 50.0JPY50

International Equity - Common Stock

28,131

24,753

 

S-11


2002
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)

   

(b) Identity of issue,
borrower, lessor
or similar party

(c) Description of investment including
maturity date rate of interest,
    collateral, par or maturity value

(d) Cost

        

(e) Current Value
          

Bhp Billiton Ltdnpv

International Equity - Common Stock

99,551

101,180

Oji Paper Co JPY50Ltd Ord JPY50

International Equity - Common Stock

201,716

166,650

C+S Co Ltd Npvltd Ord Npv

International Equity - Common Stock

115,533

68,277

Nippon Meat Packers Incy50

International Equity - Common Stock

174,082

198,736

Daito Trust Const Y50Daito Construction

International Equity - Common Stock

132,560

167,821

Daiwa House Inds JPY50Y50

International Equity - Common Stock

273,353

218,913

East Japan Railway Y50000Co Ord JPY50

International Equity - Common Stock

32,295

34,661

Mitsui Chemicals Inc Ord Shsmitsui Petrochemical Indust

International Equity - Common Stock

77,486

62,301

Nichicon Corp Y50JPY50

International Equity - Common Stock

49,274

42,301

Canon Incy50

International Equity - Common Stock

346,586

337,547

Mitsui Osk Linesy50

International Equity - Common Stock

154,377

138,630

Futaba Corp Y50JPY50

International Equity - Common Stock

78,348

49,937

Mitsui + Co JPY50

International Equity - Common Stock

111,107

102,259

Mitsubishi Corp

International Equity - Common Stock

137,474

109,608

Matsushita Electric Indust JPY 50.0Y50

International Equity - Common Stock

55,750

39,309

Kyushu Elec Power Y500Power Ord

International Equity - Common Stock

141,009

143,056

Kagoshima Bank Y50Kagoshima Bank

International Equity - Common Stock

41,684

45,470

Honda Motor Coy50

International Equity - Common Stock

392,830

339,621

Hitachi Maxell Y50

International Equity - Common Stock

96,193

73,031

Hitachi Ltd

International Equity - Common Stock

152,853

99,486

National Australia Bank Ltdord Aud

International Equity - Common Stock

65,808

66,161

Forward JPY/USDT/D

Int'l Equity - Forward Contract

03/19/03

(58,139)

(59,172)

Forward USD/EURT/D

Int'l Equity - Forward Contract

03/19/03

902,655

902,655

Forward USD/GBPT/D

Int'l Equity - Forward Contract

03/19/03

93,987

93,987

Forward USD/JPYT/D

Int'l Equity - Forward Contract

03/19/03

2,056,242

2,056,242

Forward USD/JPYT/D

Int'l Equity - Forward Contract

03/19/03

58,139

58,139

Forward EUR/USDT/D

Int'l Equity - Forward Contract

03/19/03

(902,655)

(941,305)

Forward GBP/USDT/D

Int'l Equity - Forward Contract

03/19/03

(93,987)

(96,407)

Forward JPY/USDT/D

Int'l Equity - Forward Contract

03/19/03

(2,056,242)

(2,138,631)

International Equity Investments

17,300,000

15,006,101

New England Financial

Guarantee Investment Contract

12/31/04

7.00%

43,279

43,279

New England Financial

Guarantee Investment Contract

12/31/05

6.75%

     165,123

     165,123

Guarantee Investment Contracts

    208,402

     208,402

 Total Assets Held for Investment Purposes


$1,755,410,323
==========

$1,291,436,947
==========

 

* represents party in interest