Industry Group Winners and Losers

1997'S WINNERS...
                                   EARNINGS CHANGE
                                     FROM 1996
POLLUTION CONTROL                       481%
TIRE & RUBBER                           224
FOOD DISTRIBUTION                       152
AUTO PARTS                              148
BUSINESS MACHINES & SERVICES            135
MACHINE & HAND TOOLS                     98
BUILDING MATERIALS                       96
PRINTING & ADVERTISING                   91
AIRLINES                                 79
COMPUTERS & PERIPHERALS                  76

...AND LAGGARDS               EARNINGS CHANGE FROM 1996

PAPER CONTAINERS                        -67%
PAPER                                   -37
CONSTRUCTION & ENGINEERING              -21
RAILROADS                                -4
COMPUTER SOFTWARE/SERVICES               -1
ELECTRIC UTILITIES                       +3
CONGLOMERATES                            +5
COAL, OIL & GAS                          +5
PUBLISHING                               +7
TELEPHONE COMPANIES                      +7

1998'S WINNERS...              EST. EARNINGS CHANGE
                                      FROM 1997
PAPER CONTAINERS                        209%
FOREST PRODUCTS                         110
PAPER                                   108
COMPUTER SOFTWARE/SERVICES               69
ALUMINUM                                 68
COMPUTERS & PERIPHERALS                  43
TELECOMMUNICATIONS                       42
PETROLEUM SERVICES                       42
STEEL                                    41
AUTO PARTS                               39

...AND LAGGARDS                 EST. EARNINGS CHANGE
                                      FROM 1997
NONFERROUS METALS                       -10%
CHEMICALS                                +7
ELECTRIC UTILITIES                       +7
CARS & TRUCKS                            +7
GAS UTILITIES                            +9
TELEPHONE COMPANIES                      +9
COAL, OIL & GAS                          +9
PUBLISHING                              +10
BUILDING MATERIALS                      +10
ELECTRICAL PRODUCTS                     +11


Because of losses in 1996, earnings gains or losses cannot be meaningfully 
calculated on a percentage basis for broadcasters, forest products, or trucking 
and shipping companies. Because of projected losses in 1997 and 1998, earnings 
gains or losses cannot be meaningfully calculated on a percentage basis for 
broadcasters.

DATA: I/B/E/S INTERNATIONAL INC., STANDARD & POOR'S COMPUSTAT