IN: The following reports have been waiting for your approval for more than 4 days. Please review. Owner: Joseph R Hartsoe Report Name: Joe11/13/01 Days In Mgr. Queue: 6 Owner: George B Stanley Report Name: GBS 102301 AMEX Days In Mgr. Queue: 4

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OUT: Expense Reports Awaiting Your Approval

IN: <<MF June 4th 2001>> Good Monday Morning - Comments From The Local Guys! Lehman Brothers' U.S. Equity Strategist, Jeff Applegate, believes that the stock market is "climbing a wall of worry". In his weekly comments, Jeff believes that investors are jittery about the fragility of the stock market rally, concerned about corporate profits and the economic outlook as well as possible inflation. However, Jeff believes that the earnings trough is imminent and that stronger GDP growth lies ahead. His bottom line is that the equity rally over the last couple of months has a "firm footing" and should continue. The 30-year US T-Bond yield is 5.67%. The 10-year note yield is 5.32 The 5-year is trading at 4.89%. Spot crude oil is trading at $28.25 p/b. Natural Gas - Henry Hub - is trading at $4.06 p/mcf. AD Time: New Federal Insider-Trading Rule (Rule 10b5-1) have been adopted by the SEC under the Securities Exchange Act of 1934. This rule greatly enhances an insider's/employee's ability to trade his/her corporate shares during blackout periods. Previously, without the protection of this new SEC rule, employees and insiders could safely trade only outside of designated blackout windows. Under this new rule, insiders/employees may have the ability to purchase and sell their corporate shares even during blackout periods if a written plan was established and in force when the insider/employee was not in possession of material, non-public information. The new rule contains other restrictions and should be reviewed carefully. Lehman Brothers has established a turn-key plan that take into account the regulatory procedures for establishing such a plan. Please email us or call us for more information. Lehman Brothers' Research.

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OUT: The Morning Market Call - Monday June 4th, 2001.

IN: Just remember that the DPR is used as an accounting tool as well. despite my constant reminders that it is a tool for reporting daily trading results and positions against board approved limits. So do approach this as fact-finding; and then I would suggest reviewing any recommendations that you may have with Wes Colwell and the RAC group before any changes are made. Looks like a good group. I hope that all will attend and participate. Did Pam do some due diligence for you before sending this e:mail so that you know this date and time works for everyone? Keep me posted on progress. --Sally

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OUT: DPR - what it consists of, where it is going

IN: Attached are the Q&A's published by corporate. These Q&A's are targeted primarily to terminated employees. More Q&A's concerning our current employees are in process and will be distributed as soon as possible. We will try to address your questions at the floor meeting scheduled for 1:00 PM. The call-in number for the meeting is 1-800-820-4690, code: 7012645# Julie Kearney

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OUT:
Q&A's