Exhibit 99.02

                                                             Company's Form 10-Q
                                                             September 30, 1994

                                                             Page 16

Item 1. Legal Proceedings.

     Two purported class actions were filed in October 1994 against Greyhound
Bus Lines, Inc. ("Greyhound"), various of its officers and directors and SBI and
one of its managing directors, in the United States District Court for the
Northern District of Texas. The plaintiffs purport to represent purchasers of
senior notes, subordinated covertible debentures and common stock of Greyhound.
SBI was lead manager or co-lead manager on the underwritng of certain of these
securities. The actions allege, among other things, that the prospectuses and
other public statements contained inaccurate statements relating to Greyhound's
financial prospects. The plaintiffs are seeking money damages in an unspecified
amount. The Company is reviewing the allegations, believes that it has
meritorious defenses and intends to vigorously defend against these actions.
<PAGE>

                                                             Company's Form 10-K
                                                             December 31, 1995

                                                             Page 10

     For information concerning two purported class actions filed in October
1994 in connection with certain public offering documents of Greyhound Bus
Lines, Inc., see the description that appears in the second paragraph of page 16
of the Company's Quarterly Report on Form 10-Q for the quarter ended September
30, 1994, which description is incorporated by reference herein. A copy of the
pertinent paragraph is included as an exhibit to this Form 10-K. An amended
complaint was filed in July 1995, and the defendants filed a motion to dismiss
in September 1995. A motion to certify this matter as a class action was filed
in January 1996.
<PAGE>

                                                             Company's Form 10-Q
                                                             September 30, 1996

                                                             Page 19

     For information concerning two purported class actions filed in October
1994 in connection with certain public offering documents of Greyhound Bus
Lines, Inc., see the descriptions that appear in the second paragraph on page 16
of the Company's Quarterly Report on Form 10-Q for the quarter ended September
30, 1994 and the fourth paragraph on page 10 of the Company's Annual Report on
Form 10-K for the year ended December 31, 1995, which descriptions are
incorporated by reference herein. A copy of the pertinent paragraphs of such
filings is included as an exhibit to this Form 10-Q. Although the defendants'
motion to dismiss was granted in October 1996, plaintiffs subsequently filed a
second amended complaint. In addition, in late October 1996, a purported class
action was filed against Smith Barney, among others, in the District Court,
Dallas County, Texas, entitled Clarkson v. Greyhound Lines, Inc., et al., with
allegations similar to those in the federal case referred to above. The Company
believes it has meritorious defenses to this action and intends to contest the
allegations.