<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-K/A
                                 AMENDMENT NO. 1

                     ANNUAL REPORT PURSUANT TO SECTION 13 OF
                       THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended                               Commission File
November 30, 1997                                       No. 1-8044

                                HUNT CORPORATION
                                  (Registrant)

       Pennsylvania                                   21-0481254
----------------------------              ---------------------------------
  (State of incorporation)                (IRS Employer Identification No.)

   One Commerce Square
   2005 Market Street
   Philadelphia, PA                                  19103-7085
----------------------------              ---------------------------------
(Address of principal executive                      (Zip Code)
 offices)

Registrant's telephone number, including area code:  (215) 656-0300

Securities registered pursuant to Section 12(b) of the Act:

                                                        Name of each exchange
         Title of each class:                            on which registered:
         --------------------                           ----------------------

Common Shares, par value $.10 per share                New York Stock Exchange

Rights to Purchase Series A Junior                     New York Stock Exchange
Participating Preferred Stock

Securities registered pursuant to Section 12(g) of the Act:  None

                  The registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months and (2) has been subject to
such filing requirements for the past 90 days.  Yes   X     No
                                                   -------    -------

                  The number of shares of the registrant's Common Shares
outstanding as of June 1, 1998 was 11,286,000.

<PAGE>



                           AMENDMENT TO 1997 FORM 10-K


                  Pursuant to General Instruction F to Form 10-K and Rule 15d-21
under the Securities Exchange Act of 1934, Hunt Corporation's Annual Report on
Form 10-K for the fiscal year ended November 30, 1997 is hereby amended to
include the attached financial statements described in amended Item 14(a)(1)(B)
below required by Form 11-K with respect to the Hunt Corporation Savings Plan
for the Plan's fiscal year ended December 31, 1997. The Savings Plan is subject
to the Employee Retirement Income Security Act of 1974. Item 14 as amended
provides in its entirety as follows:


Item 14.  Exhibits, Financial Statement Schedules, and
          Reports on Form 8-K

          (a)   Documents Filed as a part of the Report

                1. Financial Statements:
                   ---------------------

                   A. The Company and subsidiaries:                    Pages
                      -----------------------------                    -----
                   Report of Independent Accountants                    F-1

                   Consolidated Statements of
                   Income for the fiscal years
                   1997, 1996 and 1995                                  F-2

                   Consolidated Balance Sheets,
                   November 30, 1997 and
                   December 1, 1996                                     F-3

                   Consolidated Statements of
                   Stockholders' Equity
                   for the fiscal years 1997, 1996
                   and 1995                                             F-4

                   Consolidated Statements of
                   Cash Flows for the fiscal years
                   1997, 1996 and 1995                                  F-5

                   Notes to Consolidated Financial                      F-6-27
                   Statements

                   B. The Savings Plan:

                            Report of Independent Accountants           PF-1



                                      -2-


<PAGE>



                                                                        Pages
                                                                        -----

                   Statements of Net Assets Available
                   for Benefits, with Fund Information
                   as of December 31, 1997 and 1996                     PF-2-3

                   Statements of Changes in Net Assets
                   Available for Benefits, with Fund
                   Information for the years ended
                   December 31, 1997, 1996 and 1995                     PF-4-6

                   Notes to Financial Statements                        PF-7-15

                2. Financial Statement Schedules:

                   II.     Valuation and Qualifying
                           Accounts for the fiscal years
                           1997, 1996 and 1995                          F-28

                   All other schedules not listed above have been omitted, since
                   they are not applicable or are not required, or because the
                   required information is included in the consolidated
                   financial statements or notes thereto.

                   Individual financial statements of the Company have been
                   omitted, since the Company is primarily an operating company
                   and any subsidiary companies included in the consolidated
                   financial statements are directly or indirectly wholly-owned
                   and are not indebted to any person, other than the parent or
                   the consolidated subsidiaries, in an amount which is material
                   in relation to total consolidated assets at the date of the
                   latest balance sheet filed, except indebtedness incurred in
                   the ordinary course of business which is not overdue and
                   which matures in one year.

                3. Exhibits:
                   ---------

                   (2) Plans of acquisition and disposition:

                       (a) Share Purchase Agreement dated as of March 28, 1997
                           by and among Seal Products Subsidiary, Inc. and the
                           various shareholders of Sallmetall B. V. (incorp. by
                           ref. to Ex. 2 to Form 8-K as of March 28, 1997).

                       (b) Asset Purchase Agreement dated October 6, 1997 by and
                           among HON Industries, Inc., AHC, Inc., the Company,
                           and Bevis Custom Furniture, Inc. (incorp. by ref. to
                           Ex. 2 to Form 8-K as of November 13, 1997).


                                       -3-

<PAGE>



                   (3) Articles of incorporation and bylaws:

                       (a) Restated Articles of Incorporation, as amended
                           (composite) (incorp. by ref. to Ex. 3(a) to fiscal
                           1997 Form 10-K) (reference also is made to Exhibit
                           4(c) below for the Designation of Powers,
                           Preferences, Rights and Qualifications of Preferred
                           Stock).

                       (b) By-laws, as amended (incorp. by ref. to Ex. 3(b) to
                           Form 10-Q for quarter ended May 28, 1995.

                   (4) Instruments, defining rights of security
                       holders, including indentures:*

                       (a) Note Purchase Agreement dated as of August 1, 1996
                           between the Company and several insurance companies
                           (incorp. by ref. to Ex. 4.2 to Form 10-Q for quarter
                           ended September 1, 1996).

                       (b) Credit Agreement dated December 19, 1995, between the
                           Company and NationsBank, N.A. (incorp. by ref. to Ex.
                           9(b) to the Company's Schedule 13E-4 filed with the
                           SEC on December 21, 1995 (the "1995 Schedule 13E-4");
                           (2) Amendment dated as of February 1, 1996 to Credit
                           Agreement (incorp. by ref. to Ex. (4)(a)(2) to fiscal
                           1995 Form 10-K); (3) Amendment dated as of February
                           26, 1996 to Credit Agreement (incorp. by ref. Ex.
                           4(a)(3) to fiscal 1995 Form 10-K); and (4) Amendment
                           dated as of August 1, 1996 to Credit Agreement
                           (incorp. by ref. to Ex. 4.1 to Form 10-Q for quarter
                           ended September 1, 1996).

                       (c) Rights Agreement dated as of August 8, 1990
                           (including as Exhibit A thereto the Designation of
                           Powers, Preferences, Rights and Qualifications of
                           Preferred Stock) between the Company and Mellon Bank
                           (East), N.A. as original Rights Agent (incorp. by
                           ref. to Exhibit 4.1 to August, 1990 Form 8-K) and
                           Assignment and Assumption Agreement dated December 2,
                           1991 with American Stock Transfer and Trust Company,
                           as successor Rights Agent (incorp. by ref. to Exhibit
                           4(d) to fiscal 1991 Form 10-K).

                                      -4-
<PAGE>


                           Miscellaneous long-term debt instruments and credit
                           facility agreements of the Company, under which the
                           underlying authorized debt is equal to less than 10%
                           of the total assets of the Company and its
                           subsidiaries on a consolidated basis, may not be
                           filed as exhibits to this report. The Company agrees
                           to furnish to the Commission, upon request, copies of
                           any such unfiled instruments.

                      (10) Material contracts:

                       (a) Lease Agreement dated June 1, 1979 and First
                           Supplemental Lease Agreement dated as of July 31,
                           1994 between the Iredell County Industrial Facilities
                           and Pollution Control Financing Authority and the
                           Company (incorp. by ref. to Ex. 10(a) to fiscal 1994
                           Form 10-K).

                       (b) 1983 Stock Option and Stock Grant Plan, as amended,
                           of the Company (incorp. by. ref. to Ex. 10(c) to
                           fiscal 1996 Form 10-K).**

                       (c) 1993 Stock Option and Stock Grant Plan of the
                           Company, as amended, (incorp. by ref. to Ex. 10(d) to
                           fiscal 1996 Form 10-K).**

                       (d) Form of Stock Grant Agreement between the Company and
                           Messrs. Carney, Chandler, O'Meara, and Precious
                           (incorp. by ref. to Exhibit 10(f) to fiscal 1995 Form
                           10-K).**

                       (e) 1994 Non-Employee Directors' Stock Option Plan
                           (incorp. by ref. to Ex. 10(f) to fiscal 1993 Form
                           10-K).**

                       (f) 1997 Non-Employee Director Compensation Plan (incorp.
                           by ref. to Ex. 10(f) to fiscal 1997 Form 10-K).**

                       (g) (1) Form of Change in Control Agreement between the
                           Company and various officers of the Company (incorp.
                           by ref. to Ex. 10(i) to fiscal 1994 Form 10-K) and
                           (2) list of executive officers who are parties
                           (incorp. by ref. to Exhibit 10(h) to fiscal 1996 Form
                           10-K).**


                                       -5-

<PAGE>



                       (h) Employment-Severance Agreement between the Company
                           and William E. Chandler (incorp. by ref. to Ex. 10(j)
                           to fiscal 1993 Form 10-K).**

                       (i) (1) Supplemental Executive Benefits Plan of the
                           Company, effective January 1, 1995, and (2) related
                           Amended and Restated Trust Agreement, effective
                           January 1, 1995 (incorp. by ref. to Ex. 10(j) to
                           fiscal 1996 Form 10-K).**

                       (j) Employment-Severance arrangements with Robert B.
                           Fritsch (incorp. by ref. to Exhibit 10(k) to fiscal
                           1996 Form 10-K).**

                       (k) Employment Agreement dated as of April 8, 1996
                           between the Company and Donald L. Thompson (incorp.
                           by ref. to Ex. 10 to Form 10-Q for quarter ended June
                           2, 1996).**

                  (11) Statement re: computation of per share earnings (incorp.
                       by ref. to Ex. 11 to fiscal 1997 Form 10-K).

                  (21) Subsidiaries (incorp. by ref. to Ex. 21 to fiscal 1997
                       Form 10-K).

                  (23) (a) Consent of Coopers & Lybrand L.L.P. to incorporation
                       by reference, in Registration Statements Nos. 33-70660,
                       33-25947, 33-6359, 2-83144, 33-57105 and 33-57103 on Form
                       S-8, of their report on the consolidated financial
                       statements and schedules included in this report (incorp.
                       by ref. to Ex. 23 to fiscal 1997 Form 10-K).

                       (b) Consent of Coopers & Lybrand L.L.P. to incorporation
                       by reference, in Registration Statement Nos. 33-6359 and
                       33-57103 on Form S-8, of their report on the financial
                       statements related to the Savings Plan included with this
                       report as amended (filed herewith).

                  (27) Financial Data Schedule (incorp. by ref. to Ex. 27 to
                       Fiscal 1997 Form 10-K).


                                       -6-

<PAGE>
 ------------ 
 * Reference also is made to (I) Articles 5th, 6th, 7th and 8th of the Company's
   composite Articles of Incorporation (Ex. 3(a) to this report), and (ii) to
   Sections 1, 7 and 8 of the Company's By- laws (Ex. 3 (b) to this report).

** Indicates a management contract or compensatory plan or arrangement.

                  (b) Reports on Form 8-K

                  During the fourth quarter of 1997, the Company filed a Report
on Form 8-K with the Securities and Exchange Commission, reporting the Company's
sale of its Bevis office furniture business.

                                  ------------

                                   SIGNATURES

                  Pursuant to the requirements of Section 13 of the Securities
Exchange Act of 1934, the registrant has duly caused this amendment to be signed
on its behalf by the undersigned, thereunto duly authorized.

                                HUNT CORPORATION



Dated:  June 30, 1998                 By: /s/ Donald L. Thompson
                                          --------------------------------------
                                          Donald L. Thompson
                                          Chairman of the Board, President and
                                          Chief Executive Officer



                                      By: /s/ William E. Chandler
                                          --------------------------------------
                                          William E. Chandler
                                          Senior Vice President, Finance
                                          (Principal Financial Officer)



                                       -7-
<PAGE>

                        Report of Independent Accountants

To the Administrative Committee of
    Hunt Corporation:

We have audited the accompanying statements of net assets available for benefits
of Hunt Corporation Savings Plan (the "Plan") as of December 31, 1997 and 1996,
and the related statements of changes in net assets available for benefits for
the years ended December 31, 1997, 1996 and 1995. These financial statements are
the responsibility of the Administrative Committee. Our responsibility is to
express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing
standards. 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, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the Plan as of
December 31, 1997 and 1996, and the changes in net assets available for benefits
for the years ended December 31, 1997, 1996 and 1995, in conformity with
generally accepted accounting principles.

Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as whole. The supplemental schedules (unbound) of
Assets Held for Investment Purposes and Reportable Transactions are presented
for the purpose of additional analysis and are not a required part of the basic
financial statements but are 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. The Fund Information in the
statement of net assets available for benefits and the statement of changes in
net assets available for benefits is presented for purposes of additional
analysis rather than to present the net assets available for plan benefits and
changes in net assets available for plan benefits of each fund. The supplemental
schedules and Fund Information have been subjected to the auditing procedures
applied in the audits of the basic financial statements and, in our opinion, are
fairly stated in all material respects in relation to the basic financial
statements taken as a whole.





COOPERS & LYBRAND L.L.P.


2400 Eleven Penn Center
Philadelphia, Pennsylvania
June 18, 1998

                                      PF-1
<PAGE>

                                HUNT CORPORATION
                                  SAVINGS PLAN

     Statement of Net Assets Available for Benefits, With Fund Information,
                             as of December 31, 1997

<TABLE>
<CAPTION>
                                                                                     Participant Directed       
                                                                    ------------------------------------------------------
                                                                                Capital   
                                                                    Balanced  Preservation   Select      Ultra       Stock    
                          ASSETS                                     Fund      Trust Fund    Fund        Fund        Fund     
                                                                    --------  ------------   ------      -----       -----    
<S>                                                                 <C>       <C>            <C>         <C>         <C>      
Investment, at fair value (Note 2):                              
                                                                 
    Shares of registered investment companies:                   
       Balanced Fund, 153,903 units at $18.140/unit              
        (cost $2,589,907)                                         $2,791,796                                                  
       Benham Preservation Fund, 5,305,848 units at $1.00/unit   
        (cost $5,305,848)                                                     $5,305,848                                      
                                                                 
       Select Fund, 134,815 units at $42.590/unit                
        (cost $5,426,061)                                                                  $5,741,759                         
                                                                 
       Ultra Fund, 269,805 units at $27.300/unit                 
        (cost $6,545,871)                                                                              $7,365,694             
                                                                 
       Value Fund, 187,508 units at $6.950/unit                  
        (cost $1,330,467)                                                                                                     
                                                                 
                                                                 
    Hunt Corporation 219,271 shares at $23.688/share             
        (cost $3,634,902)                                                                                           $2,057,648
                                                                 
Participant loans (cost $0)                                                                                                   
                                                                 
Receivables:                                                     
    Employer's contribution                                            2,570       5,535        5,766       6,135        1,708
    Participants' contribution                                        45,331      26,685       34,175      43,946       15,174
    Interest                                                                      24,583                                      
                                                                  ----------  ----------   ----------  ----------   ----------
                                                                 
             Total assets                                          2,839,697   5,362,651    5,781,700   7,415,775    2,074,530
                                                                 
                          LIABILITIES                                      -           -            -           -            -
                                                                  ----------  ----------   ----------  ----------   ----------
                                                                 
             Net assets available for benefits                    $2,839,697  $5,362,651   $5,781,700  $7,415,775   $2,074,530
                                                                  ==========  ==========   ==========  ==========   ==========
</TABLE>                                                         
<PAGE>
                                                           
<TABLE>
<CAPTION>

                                                                                                 Non- 
                                                                                              Participant    
                                                                     Participant Directed       Directed
                                                                     --------------------    -------------
                                                                
                                                                     Value    Participant       Stock
                          ASSETS                                     Fund        Loans          Fund               Total
                                                                     -----    -----------       -----              -----
<S>                                                                  <C>      <C>               <C>                <C>
Investment, at fair value (Note 2):

    Shares of registered investment companies:
       Balanced Fund, 153,903 units at $18.140/unit
        (cost $2,589,907)                                                                                        $ 2,791,796

       Benham Preservation Fund, 5,305,848 units at $1.00/unit                                                  
        (cost $5,305,848)                                                                                          5,305,848
                                                                                                                
       Select Fund, 134,815 units at $42.590/unit                                                               
        (cost $5,426,061)                                                                                          5,741,759
                                                                                                                
       Ultra Fund, 269,805 units at $27.300/unit                                                                
        (cost $6,545,871)                                                                                          7,365,694
                                                                                                                
       Value Fund, 187,508 units at $6.950/unit                                                                 
        (cost $1,330,467)                                           $1,303,177                                     1,303,177
                                                                                                                
                                                                                                                
    Hunt Corporation 219,271 shares at $23.688/share                                                            
        (cost $3,634,902)                                                                         $3,210,301       5,267,949
                                                                                                                
Participant loans (cost $0)                                                       $  952,944                         952,944
                                                                                                                
Receivables:                                                                                                    
    Employer's contribution                                              1,061                                        22,775
    Participants' contribution                                          11,191                                       176,502
    Interest                                                                                                          24,583
                                                                    ----------    ----------      ----------     -----------
                                                                                                                
             Total assets                                            1,315,429       952,944       3,210,301      28,953,027
                                                                                                                
                          LIABILITIES                                        -             -               -               -
                                                                    ----------    ----------      ----------     -----------
                                                                                                                
             Net assets available for benefits                      $1,315,429    $  952,944      $3,210,301     $28,953,027
                                                                    ==========    ==========      ==========     ===========
</TABLE>
    The accompanying notes are an integral part of the financial statements.

                                      PF-2
<PAGE>

                                HUNT CORPORATION
                                  SAVINGS PLAN

     Statement of Net Assets Available for Benefits, With Fund Information,
                             as of December 31, 1996

<TABLE>
<CAPTION>
                                                                                     Participant Directed       
                                                                    ------------------------------------------------------
                                                                                Capital   
                                                                    Balanced  Preservation   Select      Ultra       Stock    
                          ASSETS                                     Fund      Trust Fund    Fund        Fund        Fund     
                                                                    --------  ------------   ------      -----       -----    
<S>                                                                 <C>       <C>            <C>         <C>         <C>      
Investment, at fair value (Note 2):                              
                                                                 
    Shares of registered investment companies:                   
       Balanced Fund, 140,818 units at $17.26/unit              
        (cost $2,287,258)                                         $2,430,533                                                  

       Benham Preservation Fund, 5,555,986 units at $1.00/unit   
        (cost $5,555,986)                                                     $5,555,986                                      
                                                                 
       Select Fund, 114,217 units at $38.53/unit                
        (cost $4,439,341)                                                                  $4,400,764                         
                                                                 
       Ultra Fund, 229,342 units at $28.09/unit                 
        (cost $5,117,008)                                                                              $6,442,224             
                                                                 
       Value Fund, 124,021 units at $6.59/unit                  
        (cost $781,112)                                                                                                     
                                                                 
                                                                 
    Hunt Corporation 198,471 shares at $18.13/share             
        (cost $3,100,463)                                                                                           $1,289,024
                                                                 
Participant loans (cost $0)                                                                                                   

Cash                                                                                                                        14
                                                                 
Receivables:                                                     
    Employer's contribution                                            4,614       8,971        8,668      10,861        2,291
    Participants' contribution                                        21,739      43,493       41,517      52,137       10,378
    Interest                                                                      24,687                                      
                                                                  ----------  ----------   ----------  ----------   ----------
                                                                 
             Total assets                                          2,456,886   5,633,137    4,450,949   6,505,222    1,301,707
                                                                  ----------  ----------   ----------  ----------   ----------
                                                                 
                          LIABILITIES                                      -           -            -           -            -
                                                                  ----------  ----------   ----------  ----------   ----------
                                                                 
             Net assets available for benefits                    $2,456,886  $5,633,137   $4,450,949  $6,505,222   $1,301,707
                                                                  ==========  ==========   ==========  ==========   ==========
</TABLE>                                                         
<PAGE>
                                                           
<TABLE>
<CAPTION>

                                                                                                 Non- 
                                                                                              Participant    
                                                                     Participant Directed       Directed
                                                                     --------------------    -------------
                                                                
                                                                     Value    Participant       Stock
                          ASSETS                                     Fund        Loans          Fund               Total
                                                                     -----    -----------       -----              -----
<S>                                                                  <C>      <C>               <C>                <C>
Investment, at fair value (Note 2):

    Shares of registered investment companies:
       Balanced Fund, 140,818 units at $17.26/unit
        (cost $2,287,258)                                                                                        $ 2,430,533

       Benham Preservation Fund, 5,555,986 units at $1.00/unit                                                  
        (cost $5,555,986)                                                                                          5,555,986
                                                                                                                
       Select Fund, 114,815 units at $38.53/unit                                                               
        (cost $4,439,341)                                                                                          4,400,764
                                                                                                                
       Ultra Fund, 229,342 units at $28.09/unit                                                                
        (cost $5,117,008)                                                                                          6,442,224
                                                                                                                
       Value Fund, 124,021 units at $6.59/unit                                                                 
        (cost $781,112)                                             $  817,295                                       817,295
                                                                                                                
                                                                                                                
    Hunt Corporation 198,471 shares at $18.13/share                                                            
        (cost $3,100,463)                                                                         $2,309,316       3,598,340
                                                                                                                
Participant loans (cost $0)                                                       $  758,799                         758,799

Cash                                                                                                                      14
                                                                                                                
Receivables:                                                                                                    
    Employer's contribution                                              1,814                                        37,219
    Participants' contribution                                          10,051                                       179,315
    Interest                                                                                                          24,687
                                                                    ----------    ----------      ----------     -----------
                                                                                                                
             Total assets                                              829,160       758,799       2,309,316      24,245,176
                                                                    ----------    ----------      ----------     -----------
                                                                                                                
                          LIABILITIES                                        -             -               -               -
                                                                    ----------    ----------      ----------     -----------
                                                                                                                
             Net assets available for benefits                      $  829,160    $  758,799      $2,309,316     $24,245,176
                                                                    ==========    ==========      ==========     ===========
</TABLE>
    The accompanying notes are an integral part of the financial statements.

                                      PF-3
<PAGE>

                                HUNT CORPORATION
                                  SAVINGS PLAN

           Statement of Changes in Net Assets Available for Benefits,
           With Fund Information, for the year ended December 31, 1997
<TABLE>
<CAPTION>

                                                                                            Participant Directed
                                                                 -------------------------------------------------------------------
                                                                                 Capital    
                                                                  Balanced     Preservation     Select       Ultra        Stock
                    ADDITIONS                                       Fund        Trust Fund       Fund        Fund          Fund
                                                                  --------     ------------     -------      ------       ------
<S>                                                              <C>            <C>           <C>           <C>           <C>
Additions to net assets attributed to:
  Investment income: 
    Net appreciation (depreciation) in fair value of assets      $  122,317                   $  505,584    $   59,934    $ 462,511
    Dividends                                                       278,471                      914,669     1,442,588       30,051
    Interest                                                                    $  291,796

  Contributions:
    Participants'                                                   296,129        502,113       518,697       711,562      212,460
    Employer's                                                       48,269         95,575        98,946       120,882       31,594
                                                                 ----------     ----------    ----------    ----------   ----------
      Total additions                                               745,816        889,484     2,037,896     2,334,966      736,616
                                                                 ----------     ----------    ----------    ----------   ----------
                    DEDUCTIONS
Deductions from net assets attributed to:
  Benefits paid to participants                                    (361,092)      (720,562)     (654,716)   (1,000,899)    (183,480)
  Management fees                                                    (1,626)        (4,647)       (2,363)         (957)        (283)
                                                                 ----------     ----------    ----------    ----------   ----------
      Total deductions                                             (362,718)      (725,209)     (657,079)   (1,001,856)    (183,763)
                                                                 ----------     ----------    ----------    ----------   ----------
Net increase (decrease) prior to interfund transfers                382,468        164,275     1,380,817     1,333,110      552,853
Interfund transfers                                                     343       (434,761)      (50,066)     (422,557)     219,970
                                                                 ----------     ----------    ----------    ----------   ----------
      Net increase (decrease)                                       382,811       (270,486)    1,330,751       910,553      772,823
Net assets available for benefits
  Beginning of year                                               2,456,886      5,633,137     4,450,949     6,505,222    1,301,707
                                                                 ----------     ----------    ----------    ----------   ----------
  End of year                                                    $2,839,697     $5,362,651    $5,781,700    $7,415,775   $2,074,530
                                                                 ==========     ==========    ==========    ==========   ==========
</TABLE>

<TABLE>
<CAPTION>
                                                                                                  Non-
                                                                                               Participant
                                                                    Participant Directed        Directed
                                                                 --------------------------     --------
                                                         
                                                                   Value       Participant       Stock
                    ADDITIONS                                       Fund          Loans          Fund        Total
                                                                  --------     ------------     -------      ------    
<S>                                                              <C>            <C>           <C>           <C>        
Additions to net assets attributed to:
  Investment income: 
    Net appreciation (depreciation) in fair value of assets      $  (30,986)                  $  783,294    $1,902,654
    Dividends                                                       246,160                       52,334     2,964,273
    Interest                                                                    $   66,896                     358,692

  Contributions:
    Participants'                                                   147,207                                  2,388,168
    Employer's                                                       22,527                      473,239       891,032
                                                                 ----------     ----------    ----------   ----------- 
      Total additions                                               384,908         66,896     1,308,867     8,504,819
                                                                 ----------     ----------    ----------   ----------- 
                    DEDUCTIONS
Deductions from net assets attributed to:
  Benefits paid to participants                                    (378,668)       (92,423)     (395,022)   (3,786,862)
  Management fees                                                      (230)                                   (10,106)
                                                                 ----------     ----------    ----------   ----------- 
      Total deductions                                             (378,898)       (92,423)     (395,022)   (3,796,968)
                                                                 ----------     ----------    ----------   ----------- 
Net increase (decrease) prior to interfund transfers                  6,010        (25,527)      913,845     4,707,851
Interfund transfers                                                 480,259        219,672       (12,860)       --
                                                                 ----------     ----------    ----------   ----------- 
      Net increase (decrease)                                       486,269        194,145       900,985     4,707,851
Net assets available for benefits
  Beginning of year                                                 829,160        758,799     2,309,316    24,245,176
                                                                 ----------     ----------    ----------   ----------- 
  End of year                                                    $1,315,429     $  952,944    $3,210,301   $28,953,027
                                                                 ==========     ==========    ==========   =========== 
</TABLE>
    The accompanying notes are an integral part of the financial statements.

                                      PF-4
<PAGE>
                                HUNT CORPORATION
                                  SAVINGS PLAN

           Statement of Changes in Net Assets Available for Benefits,
          With Fund Information, for the year ended December 31, 1996
<TABLE>
<CAPTION>
                                                                                           Participant Directed
                                                           --------------------------------------------------------
                                                                        Capital                                        
                                                           Balanced   Preservation    Select      Ultra       Stock
                        ADDITIONS                            Fund      Trust Fund      Fund        Fund       Fund 
                                                           --------   ------------    ------      -----       ------
<S>                                                        <C>        <C>             <C>         <C>         <C>    
        Additions to net assets attributed to:
          Investment income:
            Net appreciation in fair value of assets      $  38,417               $   259,550   $ 425,387  $  102,310 
            Dividends                                       243,264                   414,217     365,455      27,573   
            Interest                                                  $  293,843

          Contributions:
            Participants'                                   288,073      610,051      527,514     722,649     168,883          
            Employer's                                       55,277      112,245      102,183     127,966      29,106   
                                                         ----------   ----------   ----------  ----------  ---------- 
                  Total additions                           625,031    1,016,139    1,303,464   1,641,457     327,872
                                                         ----------   ----------   ----------  ----------  ---------- 
                       DEDUCTIONS

        Deductions from net assets attributed to:
          Benefits paid to participants                    (154,442)    (333,615)    (227,279)   (339,940)    (76,545)
          Management fees                                    (1,448)      (3,707)      (2,253)     (1,376)       (120)
                                                         ----------   ----------   ----------  ----------  ---------- 
                  Total deductions                         (155,890)    (337,322)    (229,532)   (341,316)    (76,665)
                                                         ----------   ----------   ----------  ----------  ---------- 
        Net increase prior to interfund transfers           469,141      678,817    1,073,932   1,300,141     251,207  

        Interfund transfers                                (311,766)      97,833      (13,469)     63,015    (130,291)    
                                                         ----------   ----------   ----------  ----------  ---------- 
               Net increase                                 157,375      776,650    1,060,463   1,363,156     120,916    
                                                         ----------   ----------   ----------  ----------  ---------- 
        Net assets available for benefits:                                                                             
          Beginning of year                               2,299,511    4,856,487    3,390,486   5,142,066   1,180,791
                                                         ----------   ----------   ----------  ----------  ---------- 
          End of year                                    $2,456,886   $5,633,137   $4,450,949  $6,505,222  $1,301,707   
                                                         ==========   ==========   =========   ==========  ==========
</TABLE>

<TABLE>
<CAPTION>
                                                                                      Non-
                                                                                   Participant
                                                                                     Directed       
                                                           ---------------------   ------------
                                                                                               
                                                            Value     Participant     Stock      
                        ADDITIONS                           Fund         Loans        Fund           Total 
                                                           --------   ------------    ------         -----      
<S>                                                        <C>        <C>             <C>           <C>           
        Additions to net assets attributed to:
          Investment income:
            Net appreciation in fair value of assets      $  44,423                $  100,806     $  970,893 
            Dividends                                        77,595                    47,202      1,175,306   
            Interest                                                  $  60,452                      354,295
          Contributions:
            Participants'                                   109,017                                2,426,187          
            Employer's                                       14,432                   358,272        799,481   
                                                         ----------   ---------    ----------    -----------    
                  Total additions                           245,467      60,452       506,280      5,726,162  
                                                         ----------   ----------   ----------    ----------- 
                       DEDUCTIONS

        Deductions from net assets attributed to:
          Benefits paid to participants                     (16,852)     (21,126)     (98,927)    (1,268,726) 
          Management fees                                      (110)                                  (9,014)  
                                                         ----------   ----------   ----------    -----------   
                  Total deductions                          (16,962)     (21,126)     (98,927)    (1,277,740) 
                                                         ----------   ----------   ----------    -----------   
        Net increase prior to interfund transfers           228,505       39,326      407,353      4,448,422   

        Interfund transfers                                 372,614      101,370     (179,306)        --    
                                                         ----------   ----------   ----------    -----------   
               Net increase                                 601,119      140,696      228,047      4,448,422       
                                                         ----------   ----------   ----------    -----------
        Net assets available for benefits:                                                                             
          Beginning of year                                 228,041      618,103    2,081,269     19,796,754
                                                         ----------   ----------   ----------    -----------   
          End of year                                    $  829,160   $  758,799   $2,309,316    $24,245,176    
                                                         ==========   ==========   =========     =========== 
</TABLE>
    The accompanying notes are an integral part of the financial statements.

                                      PF-5
<PAGE>


                                HUNT CORPORATION
                                  SAVINGS PLAN

           Statement of Changes in Net Assets Available for Benefits,
           With Fund Information, for the year ended December 31, 1995

<TABLE>
<CAPTION>



                                                                                 Participant Directed
                                                               --------------------------------------------------------------------
                                                                               Capital
                                                                Balanced     Preservation      Select        Ultra        Stock
                                                                  Fund         Trust Fund       Fund          Fund         Fund
                                                                ---------    -------------    --------       -------     -------
<S>                                                                 <C>           <C>            <C>            <C>        <C>    
                             ADDITIONS

Additions to net assets attributed to:  
   Investment income:
      Net appreciation (depreciation) in fair value of assets  $  196,236                      $  173,997   $1,056,051   $  339,024
      Dividends                                                   192,784                         410,693      237,926       36,130
      Interest                                                                  $  219,697

   Contributions:
      Participants'                                               293,193          563,568        498,744      627,236      204,376
      Employer's                                                   56,260          108,456         96,930      110,024       35,944
                                                               ----------       ----------     ----------   ----------   ----------
                  Total additions                                 738,473          891,721      1,180,364    2,031,237      615,474
                                                               ----------       ----------     ----------   ----------   ----------
                             DEDUCTIONS

Deductions from net assets attributed to:
   Benefits paid to particpants                                  (200,865)        (314,596)      (133,686)    (192,718)    (122,525)
   Management fees                                                 (2,340)          (6,012)        (2,722)      (1,243)        (239)
                                                                ----------       ----------     ----------   ----------   ----------
                 Total deductions                                (203,205)        (320,608)      (136,408)    (193,961)    (122,764)
                                                                ----------       ----------     ----------   ----------   ----------
Net increase prior to interfund transfers                         535,268          571,113      1,043,956    1,837,276      492,710

   Interfund transfers                                            (91,751)         257,696       (195,149)     (39,545)    (670,482)
                                                                ----------       ----------     ----------   ----------   ----------
                Net increase (decrease)                           443,517          828,809        848,807    1,797,731     (177,772)

Net assets available for benefits:
   Beginning of year                                            1,855,994        4,027,678      2,541,679    3,344,335    1,358,563
                                                                ----------       ----------     ----------   ----------   ----------


   End of year                                                  $2,299,511      $4,856,487     $3,390,486   $5,142,066   $1,180,791
                                                                ==========      ==========     ==========   ==========   ==========
               
</TABLE>
<PAGE>
[RESTUB TABLE]
<TABLE>
<CAPTION>
                                                                                                             Non-
                                                                                                          Participant
                                                                              Participant Directed          Directed
                                                                        ------------------------------    -----------
                                                                              Value       Participant        Stock
                                                                              Fund           Loans           Fund         Total
                                                                        --------------   ------------      ----------   ----------
<S>                                                                            <C>          <C>                  <C>        <C>

                             ADDITIONS

Additions to net assets attributed to:
   Investment income:
      Net appreciation (depreciation) in fair value of assets                 $ (2,829)                    $  465,047   $ 2,227,526
      Dividends                                                                 19,480                         45,045       942,058
      Interest                                                                              $ 30,520                        250,217

   Contributions:
      Participants'                                                             14,818                                    2,201,935
      Employer's                                                                 2,360                        324,742       734,716
                                                                              --------    ----------       ----------    ----------
                  Total additions                                               33,829        30,520          834,834     6,356,452
                                                                              --------    ----------       ----------    ----------


                             DEDUCTIONS

Deductions from net assets attributed to:
   Benefits paid to particpants                                                              (9,955)          (94,092)   (1,068,437)
   Management fees                                                                (109)                                     (12,665)
                                                                              --------    ---------        ----------    ----------
                 Total deductions                                                 (109)      (9,955)          (94,092)   (1,081,102)
                                                                              --------    ---------        ----------    ----------
Net increase prior to interfund transfers                                       33,720       20,565           740,742     5,275,350

   Interfund transfers                                                         194,321      584,481           (39,571)
                                                                              --------    ----------       ----------    ----------

                Net increase (decrease)                                        228,041      605,046           701,171     5,275,350

Net assets available for benefits:
   Beginning of year                                                                         13,057         1,380,098    14,521,404
                                                                              --------    ----------        ----------  -----------

   End of year                                                                $228,041     $618,103        $2,081,269   $19,796,754
                                                                              ========    ==========       ==========   ===========
</TABLE>


    The accompanying notes are an integral part of the financial statements.

                                      PF-6
<PAGE>

                                HUNT CORPORATION
                                  SAVINGS PLAN

                          Notes to Financial Statements


 1.      Description of Plan:

         The following description of the Hunt Corporation Savings Plan (the
         Plan) provides only general information. Participants should refer to
         the Plan agreement for a more complete description of the Plan's
         provisions.

                  General:

         The Plan is a defined contribution plan which provides individual
         accounts for each participant. The Plan is designed to comply with the
         requirements of the Employee Retirement Income Security Act of 1974, as
         amended (ERISA) and with the requirements of Sections 401(a) and 401(k)
         of the Internal Revenue Code of 1986, as amended (Code).

                  Eligibility and Participation:

         Generally, all active associates (i.e. employees including officers) of
         Hunt Corporation (the Company) and of any other participating company
         are eligible to participate in the Plan upon meeting the applicable
         service requirements. Leased employees, non-resident aliens, persons
         classified as independent contractors and associates who are covered by
         a collective bargaining agreement to which the Company or any
         participating company is a party (unless the collective bargaining
         agreement specifically or otherwise provides) are not eligible to
         participate in the Plan. Associates who work in full-time, temporary
         positions as part of an undergraduate or graduate degree program,
         college students enrolled in a degree program or high school graduates
         matriculating in a degree program who assume temporary employment with
         a participating company during the summer months, and associates who
         are hired for a specific length of time of no more than 18 consecutive
         months are eligible to participate in the Plan, but only if such
         associates complete a minimum of 1,000 hours of service during the plan
         year.

         Eligible associates who have completed at least one year of service, as
         of any January 1, April 1, July 1, or October 1 are eligible to
         participate in the Associate Pre-Tax Contribution and Matching
         Contribution portions of the Plan (Seal bargaining unit employees are
         eligible to participate on the January 1, April 1, July 1, or October 1
         nearest the date on which they complete a year of service.). Effective
         January 1, 1995, certain officers, former officers and directors became
         ineligible for matching contributions. Eligible associates (other than
         Seal bargaining unit employees) who have completed at least two
         consecutive years of service, as of any December 1, are eligible for
         participation in the Basic Contribution portion of the Plan provided
         such eligible associate is employed by a participating company on
         December 1 of the plan year for which the Basic Contribution is being
         made.

                                      PF-7
<PAGE>

                    Notes to Financial Statements, Continued

1.       Description of Plan, continued:

                  Contributions:

         Contributions to the Plan are made by the Company and other
         participating companies on their own behalf, and in the case of
         Associate Pre-Tax Contributions, on behalf of the participants whose
         salaries have been reduced. Subject to the limitations of the Plan and
         the Code, participants may authorize the Company and other
         participating companies to withhold each year up to 15% (10% for Seal
         bargaining unit employees) of their annual pre-tax compensation (i.e.,
         compensation excluding taxable employee benefits of any kind but
         including Associate Pre-Tax Contributions and participant salary
         reduction contributions to a cafeteria plan under Section 125 of the
         Code) for Associate Pre-Tax Contributions to the Plan but not to exceed
         a Code limit adjusted annually for inflation ($9,500 for 1997 and 1996
         and $9,240 for 1995). The Company and other participating companies, in
         turn, will make Matching Contributions on behalf of participants equal
         to $.25 for each $1.00 of Associate Pre-Tax Contributions up to 6% of
         the participant's pre-tax compensation for each year subject to the
         limitations of the Plan and the Code. (Matching Contributions will be
         made on behalf of Seal bargaining unit employees equal to $.50 for each
         $1.00 of Associate Pre-Tax Contributions to the extent such Associate
         Pre-Tax Contributions do not exceed 3% of the participant's pre-tax
         compensation for each year, subject to the limitations of the Plan and
         the Code.)

         The Company and other participating companies also may make an annual
         Basic Contribution of up to 1% of the base rate of pay (90% of the base
         rate of pay plus prior year incentive compensation of salesmen, 100% of
         the base rate for other associates) on behalf of eligible associates
         whether or not such associates make contributions to the Plan. (Basic
         Contributions are not available to employees of Seal Products
         Incorporated in the Naugatuck, Connecticut Bargaining Unit.) The
         associate's base rate of pay is the associate's annual compensation
         determined as of June 1 of any plan year, excluding overtime, bonuses,
         cash awards and stock awards under the Company's Phantom Stock Plan,
         and taxable employee benefits of any kind but including Associate
         Pre-Tax Contributions and participant salary reduction contributions to
         a cafeteria plan under Section 125 of the Code. Such Basic
         Contributions can only be invested in the Stock Fund and are not
         transferable to other funds. In order to receive a Basic Contribution
         for a given plan year, a participant must be employed by a
         participating company on December 1 of such plan year.

         In no event may the annual compensation of any participant taken into
         account under the Plan (i.e., for purposes of Associate Pre-Tax
         Contributions, Matching Contributions and Basic Contributions) exceed a
         Code limit adjusted annually for inflation ($150,000 for 1995, 1996 and
         $160,000 for 1997).

         Associate Pre-Tax Contributions are contributed to the Plan no later
         than the 15th business day of the month following the month in which
         such amounts would otherwise have been payable in cash, and Matching
         Contributions and Basic Contributions are contributed to the Plan no
         later than the due date, including any extensions, for the filing of
         the Company's federal tax return for the taxable year which ends with
         or within the plan year for which such contributions are being made.
         Participants may also make rollover contributions to the Plan of
         qualifying distributions from other qualified plans.

                                      PF-8
<PAGE>

                    Notes to Financial Statements, Continued

 1.      Description of Plan, continued:

                  Vesting:

         A participant's Associate Pre-Tax Contributions (and the earnings, less
         any losses, thereon) and Basic Contributions (and the earnings, less
         any losses, thereon) are always 100% vested and nonforfeitable.

         If, while in the service of the Company or any other participating
         company, a participant attains age 65, becomes permanently and totally
         disabled, or dies, the full value of the Matching Contributions (and
         the earnings, less any losses, thereon) allocated to such participant's
         accounts becomes vested in the participant (or in such participant's
         successor in the event of death) and is nonforfeitable. Prior to the
         occurrence of such an event, the value of the Matching Contributions
         (and the earnings, less any losses, thereon) will vest in a
         participant, based on such participant's years of service for vesting
         (years in which a participant completes 1,000 or more hours of service
         commencing with the date of hire, or in the case of Seal bargaining
         unit employees, the calendar year), as indicated in the following
         table:

                Less than 1 year                          0%
                1 year                                   20%
                2 years                                  40%
                3 years                                  60%
                4 years                                  80%
                5 years or more                         100%

         If a participant terminates employment for reasons other than death,
         total disability or retirement at or after age 65, and if the
         participant is not fully vested and the present value of his or her
         vested account balance does not exceed $3,500, or if it does exceed
         $3,500, his or her vested account balance is distributed to such
         separated participant at his or her request, the participant forfeits
         the nonvested balance in his or her account upon distribution of his or
         her entire vested account balance. In such case, if the participant is
         re-employed, he or she may repay the amount distributed to him or her
         before he or she incurs five consecutive one-year breaks in service,
         and his or her account will be restored. If the terminated
         participant's vested account balance exceeds $3,500 and such
         participant does not consent to the immediate distribution of his or
         her vested account balance, the participant forfeits the nonvested
         balance upon his or her incurring five consecutive one-year breaks in
         service.

                                      PF-9
<PAGE>

                    Notes to Financial Statements, Continued

 1.      Description of Plan, continued:

                  Withdrawals and Distributions:

         Distributions are made according to the vested interest to which
         participants are entitled upon retirement, termination, death or
         disability. The participant's vested interest will be distributed in
         one lump sum payment, in cash, unless the participant elects to receive
         that portion invested in the Stock Fund in whole shares of common stock
         or in any combination of stock and cash. A participant may also
         withdraw any portion of his or her vested account balances after he or
         she attains age 59-1/2, subject to certain administrative restrictions.
         Otherwise, withdrawals before termination of employment are allowed
         only in cases of hardship as determined in accordance with the terms of
         the Plan.

                  Disposition of Forfeitures:

         Forfeitures of Matching Contributions resulting from the termination of
         participants with less than fully vested rights under the Plan shall be
         applied to reduce Employer's Contributions to the Plan. At December 31,
         1997 and 1996, there was $7,216 and $9,674, respectively, of
         unallocated forfeitures.

                  Plan Amendment and Termination:

         Although it has not expressed any intent to do so, the Company has the
         right under the Plan to discontinue its contributions at any time and
         to terminate the Plan. In the event of Plan termination, the net assets
         of the Plan will be distributed to Plan participants and beneficiaries
         in proportion to their respective account balances which will be fully
         vested as a result of such termination. The Company may also amend the
         Plan at any time, subject to certain restrictions.


 2.      Summary of Significant Accounting Policies:

                  Basis of Accounting:

         The accompanying financial statements are prepared on the accrual
method of accounting.


                                     PF-10
<PAGE>

                    Notes to Financial Statements, Continued

 2.      Summary of Significant Accounting Policies, continued:

                  Investment Valuation:

         The common stock of Hunt Corporation is stated at fair value, which
         represents the closing price of the stock as listed on the New York
         Stock Exchange on the last trading day of the plan year. Investments in
         the American Century Investors, Inc., Balanced, Benham Preservation,
         Select, Ultra and Value funds are stated at the unit value published as
         of the end of the plan year. As of December 31, 1995, the Capital
         Preservation Trust Fund included Guaranteed Investment Contracts which
         are stated at cost plus accrued interest. Based on available
         information at December 31, 1995, the Company believes that the fair
         value of the Guaranteed Investment Contracts is not significantly
         different from cost plus accrued interest.

                  Investment Income:

         Dividend income is recorded on the ex-dividend date. Income from other
         investments is recorded as earned on the accrual basis.

         Purchases and sales of securities are reflected on a trade-date basis.
         Gain or loss on sales of securities is based on average cost.

         The Plan presents in the statements of changes in net assets available
         for benefits the net appreciation (depreciation) in the fair market
         value of its investments which consists of the realized gains or losses
         and the unrealized appreciation (depreciation) on those investments.

                  Plan Expenses:

         Management fees are paid by the Plan. Brokerage fees relating to
         purchases within the Stock Fund are paid from the account of the
         participant to which such purchases relate. All additional
         administrative fees are paid by the Company.

                  Payment of Benefits:

         Benefits are recorded when paid.

                  Use of Estimates:

         The preparation of financial statements in conformity with generally
         accepted accounting principles requires management to make significant
         estimates and assumptions that affect the reported amounts of assets
         and liabilities and disclosures of contingent assets and liabilities at
         the date of the financial statements and the reported amounts of
         revenue and expenses during the reporting period. Actual results could
         differ from those estimates.

                                     PF-11
<PAGE>

                    Notes to Financial Statements, Continued

 2.      Summary of Significant Accounting Policies, continued:

                  Risks and Uncertainties:

         The Plan provides for various investment options in any combination of
         stocks, bonds, fixed income securities, mutual funds, and other
         investment securities. Investment securities are exposed to various
         risks, such as interest rate, market and credit. Due to the level of
         risk associated with certain investment securities and the level of
         uncertainty related to changes in the value of investment securities,
         it is at least reasonably possible that changes in risks in the near
         term would materially affect participants' account balances and the
         amounts reported in the statement of net assets available for benefits
         and the statement of changes in net assets available for benefits.


 3.      Investment Program:

         Contributions to the Plan are invested, as directed by the participants
         (except for Basic Contributions which are invested in the
         Non-Participant Directed Stock Fund), in the following funds as
         described below:

           (1)    Balanced Fund - a fund that uses common stocks and fixed
                  income securities to provide growth opportunities as well as
                  income. The Fund has approximately 60% of its assets in growth
                  stocks and the remainder in fixed income securities. The fixed
                  income portion of the fund is invested in a diversified
                  portfolio of investment-grade bonds with an average weighted
                  portfolio maturity of three to ten years.

           (2)    Capital Preservation Trust Fund - is a fixed income fund
                  consisting of the Benham Preservation Fund which invests
                  primarily in guaranteed investment contracts issued by major
                  financial institutions including banks and life insurance
                  companies. Previously, the Fund also held individual
                  guaranteed investment contracts, all of which matured prior to
                  December 31, 1996.

                  The Capital Preservation Trust Fund is a conservative fixed
                  income fund in which principal is protected from market
                  volatility. By investing in the Benham Preservation Fund, the
                  Capital Preservation Trust Fund attempts to provide yields
                  that are higher than money market funds and certificates of
                  deposit, as well as to provide a relatively predictable annual
                  return. The annual interest rates are as follows:

<TABLE>
<CAPTION>
                                                            Net Effective
                      Time of Deposit                    Annual Interest Rate
                      ---------------                    --------------------
<S>                                                  <C>
                  Funds deposited during 1997        Principally 5.54% through 1998

                  Funds deposited during 1996        Principally 6.02% through 1997

                  Funds deposited during 1995        Principally 6.02% to 8.05% through 1996
</TABLE>
                                     PF-12
<PAGE>

                    Notes to Financial Statements, Continued

 3.      Investment Program, continued:

           (3)    Select Fund - a fund that invests only in stocks that pay
                  dividends. Securities are chosen primarily for their growth
                  potential, however, and return from investment income may not
                  be significant.

           (4)    Ultra Fund - a fund that seeks capital growth over time by
                  investing in companies with accelerating growth trends.

           (5)    Value Fund - a fund that seeks long-term capital growth by
                  investing in securities of well established companies that are
                  believed to be undervalued at the time of purchase.

           (6)    Stock Fund - a fund consisting of common stock of Hunt
                  Corporation purchased in the open market, or directly from the
                  Company. (This fund is not available to certain officers or
                  directors, except with respect to Basic Contributions.)

         There were 1,129 and 1,922 Plan participants at December 31, 1997 and
         1996, respectively, who participated in one or more of the investment
         funds. At December 31, 1997 and 1996, the number of participants
         selecting each of the investment funds for their contributions was as
         follows:

                                                       1997           1996
                                                       ----           ----
               Stock Fund                             1,019         1,353 
               Select Fund                              657           690 
               Ultra Fund                               652           686 
               Capital Preservation Trust Fund          571           662 
               Balanced Fund                            387           423 
               Value Fund                               150            95 
                                                      
 4.      Participant Loans:

         Participants may borrow from their fund accounts a minimum of $1,000
         and up to a maximum equal to the lesser of $50,000 or 50 percent of
         their vested account balance. Loan transactions are treated as a
         transfer to (from) the investment fund from (to) the Participant Loans
         Fund.

         The period of repayment may not exceed five years (except in the case
         of a loan to a Seal bargaining unit employee for the purpose of
         acquiring a principal residence). Loans are required to be repaid
         through payroll deductions in equal periodic installments of principal
         and interest. Loans are required to be collateralized by an assignment
         of a portion of the participant's interest in his or her account equal
         to the principal amount of the loan, and supported by the participant's
         collateralized promissory note. The interest rate on a loan is one
         percentage point (two percentage points for Seal bargaining unit
         employees) above the prime rate as published in The Wall Street Journal
         on the first business day of the month in which the loan is made.
         Participant loans mature from January 15, 1998 to January 23, 2003 and
         bear interest at 9.25% to 10.75% at December 31, 1997.

                                     PF-13
<PAGE>

                   Notes to Financial Statements, Continued

 5.      Reconciliation of Financial Statements to Form 5500:

         The following is a reconciliation of net assets available for benefits
         per the financial statements to the Form 5500 for the years ended
         December 31, 1997 and 1996.

                                                       1997            1996
                                                       ----            ----
         Net assets available for benefits
          per the financial statements             $28,953,027     $24,245,176
         Amounts allocated to withdrawing
          participants                              (3,090,034)       (312,164)
                                                   -----------     -----------
         Net assets available for benefits
          per the Form 5500                        $25,862,993     $23,933,012
                                                   ===========     ===========

         The following is a reconciliation of benefits paid to participants per
         the financial statements to the Form 5500 for the years ended December
         31, 1997 and 1996:

                                                         1997          1996
                                                         ----          ----
         Benefits paid to participants per
          the financial statements                    $3,786,862    $1,268,726
         Add: Amounts allocated to withdrawing
          participants at end of year                  3,090,034       312,164
         Less: Amounts allocated to withdrawing
          participants at beginning of year             (312,164)     (275,823)
                                                      ----------     ---------
         Benefits paid to participants per
          the Form 5500                               $6,564,732    $1,305,067
                                                      ==========    ==========

         Amounts allocated to withdrawing participants are recorded on the Form
         5500 for benefit claims that have been processed and approved for
         payment prior to December 31 but not yet paid as of that date.

 6.      Tax Status:

         The Internal Revenue Service has determined and informed the Company by
         a letter dated October 27, 1995, that the Plan and related trust are
         designed in accordance with applicable sections of the Internal Revenue
         Code (IRC). The Plan has been amended since receiving the determination
         letter. However, the Plan administrator believes that the Plan is
         designed and is currently being operated in compliance with the
         applicable requirements of the IRC. Therefore, no provision for income
         taxes has been included in the Plan's financial statements.

                                     PF-14
<PAGE>

                   Notes to Financial Statements, Continued

 7.      Related Party Transactions:

         American Century  Investors,  Inc. is the recordkeeper and manager of
         the Plan's investments and as such, is a party-in-interest of the Plan.

         The Plan is interpreted, administered and operated by an Administrative
         Committee comprised entirely of executives of the Company.


 8.      Subsequent Event:

         Effective April 1, 1998, the Board of Directors of the Hunt Corporation
         amended the Plan to increase the limit on mandatory cash-outs from
         $3,500 to $5,000 and modify the definition of pre-tax compensation.
         Participants should refer to the Plan agreement for a more complete
         description of the amendments.

                                     PF-15