TELECOMMUNICATION.

                             TELECOMMUNICATION
INDUSTRY RANK 1998 STD MVA RANK 1998 ABSOLUTE MVA NAME
      1                1               13         Bernard J. Ebbe
      2                7              105         L.L. Mays
      3               12              253         Kobi Alexander
      4               13               88         Mitchael J. Birck
      5               15               61         Ralph. J. Roberts
      6               32              370         Glenn R. Jones
      7               34              292         William J. Rouhana, Jr.
      8               62              137         Joseph P. Nacchio
      9               84              623         Steve Jobs
     10               86              512         Gene W. Schneider
     11               89              459         David C. Rubery
     12              104              236         John J. Rigas
     13              113              553         Clark E. McLead
     14              133              332         Irwin M. Jacobs
     15              134              266         Leonard Tow
     16              169              213         William J. Cadogan
     17              187               54         Sam L. Ginn
     18              204               84         Joe T. Ford
     19              213              364         McHenry T. Tichenor Jr.
     20              234              660         Allen E. Smith
     21              235              583         Floyd L. English
     22              240              193         Glen F. Post III
     23              277               15         Edward E. Whitacre, Jr.
     24              279               62         William T. Esrey
     25              289               11         Richard A. McGinn
     26              336              176         John T. LaMacchia
     27              353              503         Rudy Graf
     28              371               28         Richard C. Notebaert
     29              389               97         James O. Robbins
     30              399              435         Frederick A. Landman
     31              412               25         F.D. Ackerman
     32              422              453         John William Stanton
     33              440              225         J. Barday Knopp
     34              442              594         Douglas G. Smith
     35              447              142         Daniel F. Akerson
     36              456              433         J. Shelby Bryan
     37              458              432         John T. Stupka
     38              462              256         Edward D. Breen
     39              492               60         Solomon d. Trujillo
     40              499              508         Wayne Perry
     41              520              555         Fred R. Nichols
     42              528              308         Joseph P. Clayton
     43              550               46         Charles R. Lee
     44              586               41         C. M. Armstrong
     45              624              686         Myles P. Berkman
     46              629              676         David McCourt
     47              637              674         Benjamin L. Scott
     48              658              680         Robert W. Grubbs
     49              675              707         LeRoy T. Carlson, Jr.
     50              681              673         Phillip W. Farmer
     51              727              723         James F. McDonald
     52              744              873         Christopher B. Galvin
     53              769              743         King Harris
     54              813              813         John P. Frazee Jr.
     55              903              597         Alex J. Mandl
INDUSTRY PARK START DATE COMPANY                      1998 MVA (S MILLIONS)
      1          1985    WorldCom                            77,032
      2          1975    Clear Channel Communications         9,167
      3          1984    Comverse Technology                  2,597
      4          1975    Tellabs                             11,544
      5          1969    Comcost                             18,005
      6          1970    Jones Intercable                     1,329
      7          1993    Winstar Communications               2,004
      8          1997    Qwest Communications                12,427
      9          1986    Pixor                                1,343
     10          1992    United International Hldgs           1,135
     11          1993    Intermedia Communications              963
     12          1952    Adelphia Communications              3,070
     13          1991    McLeadUSA                            1,512
     14          1985    QUALCOMM                             2,109
     15          1973    Century Communications               2,661
     16          1991    ADC Telecommunications               3,486
     17          1988    AirTouch Communications             30,706
     18          1987    Alltel Corporation                  11,816
     19          1997    Heftel Broadcasting                  1,685
     20          1993    Powertel                               337
     21          1983    Andrew Corporation                     757
     22          1992    Centurytel                           4,326
     23          1990    SBC Communcations                   79,956
     24          1985    Sprint                              17,241
     25          1997    Lucent Technologies                127,265
     26          1993    Cincinnati Bell                      4,769
     27          1991    Centennial Cellular                    871
     28          1994    Ameritech                           52,330
     29          1994    Cax Communications                  12,797
     30          1995    PanAmSat                             2,716
     31          1996    BellSouth                           74,322
     32          1994    Western Wireless                     1,559
     33          1996    NTL Inc                              2,903
     34          1987    Omnipoint                            1,277
     35          1996    Nextel Communications                5,754
     36          1996    ICG Communications                   1,603
     37          1996    SkyTel Communication                 1,123
     38          1997    General Instrument                   3,031
     39          1995    US West                             23,385
     40          1997    NEXTLINK Communications              1,792
     41          1997    TCA Cable TV                         1,422
     42          1997    Frontier                             4,459
     43          1992    GTE                                 38,854
     44          1997    AT&T                                66,667
     45          1994    Associated Group                       125
     46          1997    RCN                                    691
     47          1997    IXC Communications                   1,219
     48          1998    Anixter International                  479
     49          1986    Telephone & Data Systems                42
     50          1995    Harris Corp                            662
     51          1993    Scientific-Atlanda                     750
     52          1997    Motorola                            17,254
     53          1997    Pittway                                806
     54          1997    Paging Network                         875
     55          1996    Teligent                             1,482
INDUSTRY PARK START DATE MVA DELTA MVA DELTA MVA / BEG. CAP.
      1                1       7,030        18601.85
      2               35       9,132         1288.39
      3               19       2,578          946.66
      4              136      11,409          923.47
      5               31      17,974          585.93
      6               19       1,310          241.47
      7                9       1,995          216.42
      8            5,771       6,655           90.93
      9              957         387           50.91
     10              421         714           49.48
     11               23         939           47.69
     12              181       2,889           35.16
     13              914         598           26.13
     14              453       1,656           20.49
     15              239       2,422           19.66
     16              132       3,354           12.39
     17            8,665      22,041           10.15
     18               31      11,785            8.17
     19              325       1,360            7.46
     20               73         264            5.60
     21              257         581            5.49
     22              518       3,808            5.21
     23            6,301      73,656            3.79
     24              622      17,863            9.78
     25           39,259      88,006            3.44
     26              358       4,410            2.66
     27              129         742            2.42
     28            7,865      44,465            2.13
     29            2,753      40,044            1.91
     30            1,693       1,024            1.78
     31           20,103       4,220            1.63
     32              603         956            1.52
     33              379       2,525            1.31
     34              806         471            1.22
     35              478       6,232            1.23
     36              574       1,030            1.17
     37               92       1,031            1.16
     38              513       2,518            1.15
     39            5,169      18,216            0.96
     40            1,059         733            0.93
     41              829         592            0.78
     42            2,647       1,812            0.75
     43           12,921      25,933            0.66
     44           35,214      31,454            0.45
     45               16         141            0.30
     46              497         195            0.27
     47            1,019         200            0.24
     48              304         175            0.16
     49                5          37            0.10
     50              457         205            0.09
     51              769         -18           -0.03
     52           18,763      -1,509           -0.07
     53              917        -111           -0.14
     54            1,390        -515           -0.33
     55            1,021         461         -201.76