11-K 1 cscmap11k03.htm CSC MATCHED ASSET PLAN cscmap11k03

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

                

FORM 11-K

 

ANNUAL REPORT
PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

 

x ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
For the fiscal year ended: December 31, 2003

o TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the transition period from                to                   

Commission file number: 1-4850

A. Full title of plan and the address of the plan, if different from that of the issuer named below: Computer Sciences Corporation Matched Asset Plan

B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

Computer Sciences Corporation
2100 East Grand Avenue
El Segundo, CA 90245

TABLE OF CONTENTS

Description

Page

 

 

(a) Financial Statements:

 

Report of Independent Registered Public Accounting Firm ..............................

3

Statements of Net Assets Available for Benefits
  As of December 31, 2003 and 2002 ..................................................................

4

Statements of Changes in Net Assets Available for Benefits
  For the Years Ended December 31, 2003 and 2002 ...........................................

5

Notes to Financial Statements ...........................................................................

6

 

 

(b) Supplemental Schedule:

 

 

 

         Form 5500, Schedule H, Part IV, Line 4i Schedule of Assets
           (Held at End of Year) as of December 31, 2003

S-1

 

 

(c) Exhibit:

 

 

 

Exhibit 23: Consent of Independent Registered Public Accounting Firm .....................

E-1

All other schedules required by 29 CFR 2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.

 

 

 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

  

To the Board of Directors and Stockholders of
Computer Sciences Corporation
El Segundo, California

We have audited the accompanying statements of net assets available for benefits of Computer Sciences Corporation Matched Asset Plan (the "Plan") as of December 31, 2003 and 2002, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). 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, such financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2003 and 2002, and the changes in net assets available for benefits for the years then ended in conformity with accounting principles generally accepted in the United States of America.

Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedule of assets (held at end of year) is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is 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. This supplemental schedule is the responsibility of the Plan's management. Such supplemental schedule has been subjected to the auditing procedures applied in our audits of the 2003 basic financial statements and, in our opinion, is fairly stated in all material respects when considered in relation to the basic financial statements taken as a whole.

 

/s/ DELOITTE & TOUCHE LLP

Deloitte & Touche LLP
June 24, 2004

3

 

COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

 

          December 31         

 

    2003    

 

    2002    

ASSETS

 

 

 

Investments at fair value (Notes 1, 2, 5, 7 and 10):

 

 

 

  Short-term investments

$ 152,216,240

 

$ 170,912,269

  Foreign currency

527,910

 

738,482

  Long-term investments

 

 

 

    CSC common stock

363,945,449

 

270,826,298

    Participant loans (Note 6)

19,637,145

 

20,848,024

    Interest in registered investment companies

 

 

 

      Mellon Enhanced Asset Fund

113,850,006

 

89,474,914

      Mellon S&P 500 Stock Index Fund

297,564,493

 

214,747,696

      Vanguard High Yield Bond Fund

20,271,765

 

11,456,659

      Mellon Balanced 40/60 Fund

33,263,641

 

25,197,973

      Mellon Balanced 60/40 Fund

57,080,095

 

40,452,622

      Mellon Balanced 80/20 Fund

71,212,974

 

49,760,056

      Mellon S&P 500 Select Fund

 

 

29,669,793

      State Street Global Advisor Index Plus Fund

44,344,320

 

 

      Mellon Market Completion Fund

72,904,718

 

39,969,231

      Frank Russell Active Equity Fund

129,173,572

 

96,986,981

  Bonds and debentures

227,610,301

 

215,919,928

  International equity investments

27,545,272

 

15,006,101

  Guaranteed investment contracts

          221,728

 

          208,402

Total investments

1,631,369,629

 

1,292,175,429

 

 

 

 

Receivables:

 

 

 

  Accrued income

1,535,177

 

1,593,875

  Unsettled trades

34,477,935

 

22,318,020

  Other

          104,991

 

                      

Total Receivables

     36,118,103

 

    23,911,895

Total Assets

1,667,487,732

 

1,316,087,324

 

 

 

 

LIABILITIES

 

 

 

Accrued expenses

678,738

 

741,603

Unsettled trade payables

33,792,063

 

26,508,134

Other

           126,167

 

           695,516

  Total Liabilities

      34,596,968

 

      27,945,253

NET ASSETS AVAILABLE FOR BENEFITS

$ 1,632,890,764
===========

 

$ 1,288,142,071
===========

 

See Notes to Financial Statements

4

COMPUTER SCIENCES CORPORATIONMATCHED ASSET PLAN

STATEMENTS OF CHANGES IN NET ASSETS
AVAILABLE FOR BENEFITS

Years Ended December 31

2003

2002

INVESTMENT INCOME (LOSS):

Net appreciation (depreciation) in fair value of

  investments (Note 7)

$ 251,373,933

$ (246,023,997)

Interest

13,133,594

14,519,253 

Dividends

         9,223,309

        8,956,209 

  Net investment income (loss)

273,730,836

(222,548,535)

CONTRIBUTIONS:

  Participant

148,981,583

151,249,938 

  Employer

26,621,301

27,985,869 

  Employee rollovers

5,570,927

8,839,837 

  Transfers from (spinoffs to) other plans (Note 9)

        7,957,089

          (73,406)

   Total contributions

189,130,900

188,002,238 

DEDUCTIONS:

  Distributions to participants

116,211,405

125,997,395 

  Administrative expenses

      1,901,638

      1,915,715 

   Total Deductions

  118,113,043

  127,913,110 

INCREASE (DECREASE) IN NET ASSETS

344,748,693

(162,459,407)

Net Assets Available for Benefits at Beginning of Year

 1,288,142,071

 1,450,601,478 

NET ASSETS AVAILABLE FOR BENEFITS
  AT END OF YEAR


$ 1,632,890,764
============

$ 1,288,142,071 
=========== 

 

See Notes to Financial Statements

5

COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
Years Ended December 31, 2003 and 2002

Note 1  Description of the Plan

The following brief description of the Computer Sciences Corporation Matched Asset Plan (the "Plan") is provided for general information purposes only. Participants should refer to the Plan documents for more complete information.

The Plan is a defined contribution plan adopted by the action of the Board of Directors of Computer Sciences Corporation (the "Company") taken on November 3, 1986, and constitutes an amendment and restatement of the Employee Stock Purchase Plan ("the Prior Plan").

The Plan is a continuation of the Prior Plan and is qualified under the Internal Revenue Code (the "Code"), as amended, Section 401(a) and, effective as of January 1, 1987, with respect to the portion thereof that qualifies as a qualified cash or deferred arrangement, to satisfy the requirement of Code Section 401(k). It is also subject to the provisions of the Employee Retirement Income Security Act of 1974 as amended ("ERISA").

The Plan is administered by a committee, Retirement and Employee Benefits Plans Committee of Computer Sciences Corporation (the "Committee"), consisting of four members who are appointed by the Board of Directors of the Company and serve without compensation, being reimbursed by the Company for all expenditures incurred in the discharge of their duties as members of the committee. The Committee has the power to interpret, construe and administer the Plan and to decide any dispute which may arise under the Plan.

Plan Termination - Although it has not expressed any intention to do so, the Company reserves the right to discontinue its contributions and terminate the Plan subject to the provisions of ERISA. In the event of such termination, the participants' rights to the Company's contributions vest immediately and the account balances are fully paid to the participants.

Interest in the Common/Collective Trust

The Plan's investments are in the common/collective trust ("CCT") which was established for the investment of assets of the Plan and several other Computer Sciences Corporation sponsored retirement plans. Each participating retirement plan has an undivided interest in the CCT. The assets of the CCT are held by The Bank of New York (the "Trustee"). At December 31, 2003 and 2002, the Plan's interest in the assets of the CCT was approximately 50.8% and 58.7%, respectively. Investment income and administrative expenses relating to each discretionary or directed fund within the CCT are allocated to the individual plans based upon average monthly balances invested by each plan in each discretionary or directed fund.

Participants in the CCT consist of the Computer Sciences Corporation Matched Asset Plan, CSC Outsourcing Inc. Hourly Savings Plan, CSC Outsourcing Inc. CUTW Hourly Savings Plan, Computer Sciences Corporation Employee Pension Plan, CSC Outsourcing Inc. Hourly Pension Plan, CSC Outsourcing Inc. CUTW Hourly Pension Plan, CSC/Hughes Retirement Plan, CSR's Range Employees Pension Plan, Computer Sciences Corporation Cash Balance Plan, CSC/Raytheon Retirement Plan, CSC/E-Systems Pension Plan, CSC Pension Equity Plan, Eagle Alliance Employee Pension Plan, DynCorp Capital Accumulation Retirement Plan, and the DynCorp Savings and Retirement Plan (the "Plans").

6


COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
Years Ended December 31, 2003 and 2002

Eligibility and Participation

Any eligible employee who has satisfied the Plan's age and service requirements, and is employed by the Company, and who receives a stated compensation in respect of employment on the payroll of the Company, is eligible to become a participant, with the exception of a person who is represented by a collective bargaining unit and whose benefits have been the subject of good faith bargaining under a contract that does not specify that such person is eligible to participate in the Plan. In addition, the Company may determine to exempt all employees of any division, unit, facility or class from coverage under the Plan. Any person who leaves the employ of the Company and, at a later time becomes re-employed, must reapply to participate in the Plan, provided he or she otherwise meets the eligibility requirements.

Employee and Company Contributions

Subject to certain limitations described below, an eligible employee who elects to become a participant may authorize any whole percentage (at least 1% but not more than 15%) of such employee's monthly compensation (as defined in the Plan) to be deferred and contributed to the trust fund on his or her behalf, subject to certain Code limitations. Any compensation deferral in excess of applicable Code limitations together with income allocable to that excess, will be returned to a participant. Any matching Company contributions attributable to any excess contribution, and income allocable thereto, will either be returned to the Company or applied to reduce future matching Company contributions. Effective January 1, 2002, under the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), the Plan permits participants age 50 and over, to make additional "catch-up" contributions in excess of the statutory limit. For 2002, such "catch-up" contributions could be made up to $1,000 a year, then they are increased each year by $1,000 until $5,000 in 2006, and then indexed in $500 increments.

In order to qualify for the special tax treatment accorded to plans by Section 401(k) of the Code, contributions on behalf of participants under the Plan must meet two nondiscrimination tests designed to prevent a disproportionate compensation deferral election by employees who are highly compensated in relation to other employees. The Committee may cause the percentage authorized by the highly compensated participants to be reduced if the Plan does not meet both of the nondiscrimination tests.

A participant is not permitted to make voluntary after-tax contributions to the Plan.

7

COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
Years Ended December 31, 2003 and 2002

The Company will contribute an amount equal to 50% of the first 3% of the participant's compensation deferral, except for five groups of employees to whom under the terms of their contract agreements the Company will contribute amounts based on the following rates:

Group 1 - 50% of the first 4% of the participant's compensation deferral;
Group 2 - 100% of the first 7% of the participant's compensation deferral;
Group 3 - 100% of the first 5% of the participant's compensation deferral;
Group 4 - 100% of the first 10% of the participant's compensation deferral; and
Group 5 - 100% of the first 6% of the participant's compensation deferral.

Matching contributions will be invested in the Company Stock Fund, which invests in the common stock of Computer Sciences Corporation except for employees of CSC Credit Services, Inc., Mississippi Space Services, and Computer Sciences Raytheon whose matching contributions are not required to be invested in the Company Stock Fund, and may be invested in any available fund selected by the employee. Participants direct the investment of their contributions into various investment options offered by the Plan.

Participant Accounts

Each participant's account is credited with the participant's contribution and the Company's matching contribution and allocations of Plan earnings, and is charged with an allocation of investment management fees. Allocations are based on participant earnings or account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account.

Vesting of Participants' Interests/Forfeitures

Participants are vested immediately in his or her contributions plus actual earnings thereon.

Vesting in his or her Matching Contribution Account is equal to twenty-five percent (25%) after completing two full years of service and increasing by twenty-five percent (25%) for each additional full year of service. Vesting accelerates to 100% in the event of reaching age 65 while employed by the Company or upon severance by reason of death or total and permanent disability.

Any nonvested portion of the Matching Contributions Account will be forfeited upon withdrawal from the Plan. Forfeitures may be applied to reduce future matching contributions by the Company. Such forfeitures during 2003 and 2002 amounted to $998,494 and $1,211,155, respectively. As of December 31, 2003, the Plan held $126,167 in forfeitures.

8

COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
Years Ended December 31, 2003 and 2002

Distributable Amounts, Withdrawals and Refunds

A participant may become entitled to a distribution of his or her distributable benefit by reason of retirement, death, total and permanent disability, voluntary termination of employment, or dismissal. The rules of payment of a participant's distributable benefit depend upon age of the participant, the number of years of service completed by the participant and the type of severance.

While still an employee, a participant may, upon at least a 30 day written notice to the Committee, make a withdrawal of his or her compensation deferral contributions if the Committee finds, after considering the participant's request, that an adequate financial hardship and resulting need for such amount has been demonstrated by the participant.


Note 2  Summary of Significant Accounting Policies

Basis of Accounting

The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. Certain reclassifications have been made to the prior years' financial statements to conform to 2003 presentation.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of net assets available for benefits and changes therein. Actual results could differ from those estimates.

Risks and Uncertainties

The Plan utilizes various investment instruments. Investment securities, in general, are exposed to various risks, such as interest rate risk, credit risk, and overall market volatility. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the value of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the financial statements.

9

COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
Years Ended December 31, 2003 and 2002

Assets of the Plan

The assets of the Plan are held in a trust with fourteen funds representing the investment options. The investment return in the respective funds is allocated to a participant based on his or her account balance. Contributions to, and payments from, the Plan are specifically identified to the applicable funds within the trust.

Security Transactions

Security transactions are accounted for on a trade-date basis. Dividend income is recorded on the ex-dividend date. Interest income is accounted for on the accrual basis.

In general, participants in the CSC Stock Fund receive distributions in certificates for shares of the common stock of the Company.

Valuation of Investment Securities

Investments in common stocks, fixed income securities and institutional investment vehicles are stated at fair value based upon closing sales prices reported on recognized securities exchanges on the last business day of the plan year or, for the listed securities having no sales reported and for unlisted securities, upon last reported bid prices on that date. Investments in short-term investments are stated at cost which approximates fair value. Participant loans are valued at outstanding loan balances.


Payment of Benefits

Benefits are recorded when paid. Amounts allocated to accounts of persons who have elected to withdraw from the Plan but have not yet been paid were $11,298,739 and $10,968,769 at December 31, 2003 and 2002, respectively.


Note 3  Income Tax Status

The Internal Revenue Service has determined and informed the Company by a letter dated May 13, 2003, that the Plan and related trust are designed in accordance with applicable sections of the Code.

The Committee believes that the Plan is designed and operated to qualify under Section 401(a) of the Code and, with respect to its qualified cash or deferred arrangement, under Section 401(k) of the Code.

10

COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
Years Ended December 31, 2003 and 2002

 

Note 4  Reconciliation of Financial Statements to Form 5500

          December 31,         

     2003     

     2002     

Net assets available for benefits per the financial statements

$ 1,632,890,764 

$ 1,288,142,071 

Amounts allocated to withdrawing participants

       (11,298,739)

      (10,968,769)

Net assets available for benefits per Form 5500

$ 1,621,592,025
=========== 

$ 1,277,173,302
=========== 

The following is a reconciliation of distributions paid to participants per the financial statements to the Form 5500:

     Year Ended December 31,     

     2003     

     2002     

Distributions to participants per the financial statements

$ 116,211,405 

$ 125,997,395 

Add: Amounts allocated to withdrawing participants at
  end of year

11,298,739 

10,968,769 

Less: Amounts allocated to withdrawing participants at
  start of year

    (10,968,769)

      (7,047,846)

Distributions to participants per the Form 5500

$ 116,541,375
========== 

$ 129,918,318
========== 

Amounts allocated to withdrawing participants are recorded on the Form 5500 for distributions that have been processed and approved for payment prior to year end but not paid as of that date.


Note 5  Investment Funds

Participant contributions - Subject to rules the Committee may from time to time adopt, each participant has the right to designate one or more of the following investment funds established by the Committee for the investment of his or her compensation deferral contributions, in increments of 1%. After an initial election has been made, a participant may designate a different Fund into which future compensation deferral contributions shall be invested as of the first day of any payroll period that coincides with or immediately follows the first day of any month once within a calendar quarter. In addition, a participant may elect to redesignate any amounts in his or her accounts as of the last business day of any month to be invested in a different Fund. These elections may be made by giving such advance notice as may be required by the Plan administrator.

11

COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
Years Ended December 31, 2003 and 2002

Note 6  Participant Loans

The Plan allows participants to borrow from their vested account balances from a minimum of $1,000 to a maximum of 50% of their vested account balances up to $50,000, subject to certain limitations. The loans bear interest at the prime rate quoted in the Wall Street Journal plus 1%. Loan terms range from 1-5 years or up to 15 years for purchase of a primary residence. Loans are recorded at outstanding loan balances, which approximates fair value, on the Statements of Net Assets Available for Benefits.

The loans are deducted from the participants' accounts according to a priority specified in the Plan's loan rules and, within each account, pro rata from the funds based on their balances at the time. Loan repayments are reinvested in the participants' funds according to their current investment election. The repayments are similarly allocated among participants' accounts according to the priority specified in the Plan's rules.

 

12

COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
Years Ended December 31, 2003 and 2002

Note 7  Investments in Common/Collective Trust

The following table presents investments in the CCT at fair value.

        December 31,        

     2003     

     2002     

Investments at Fair Value as Determined by

Quoted Market Price

Cash and foreign currency

$ 2,461,294

$(7,062,096)

Short-term investment fund

61,847,211

82,631,988 

Money market fund

133,017,884

134,905,932 

Bonds and debentures

364,928,255

313,525,841 

CSC common stock

750,057,291

271,451,187 

International equity portfolios

127,067,765

80,999,745 

Investment in registered investment companies

Active Allocation Fund

113,850,006

89,474,915 

Brinson Balanced Fund

53,799,264

44,971,781 

Brinson U.S. Equity Fund

159,022,807

121,505,104 

Mellon Capital Aggr. Bond Fund

-

19,442,536 

Mellon Corporate Bond Fund

122,096,617

128,727,920 

Mellon EB Enhanced Asset Allocation Fund

72,712

72,130 

Mellon EB Stock Index Fund

-

18,103,136 

Mellon Equity Fund

413,025,228

252,041,662 

Mellon Equity Completion Fund

174,398,903

100,432,455 

Mellon Government Bond Fund

1,063,103

1,100,655 

Mellon Index Fund

124,536

91,480 

Mellon S&P 500 Index Fund

297,564,493

214,747,696 

Pacific Mutual Enhanced Bond Fund

44,115,319

42,048,116 

BlackRock Core Bond Fund

1,996,249

2,068,241 

Vanguard High Yield Bond Fund

20,271,765

11,456,659 

Mellon Balanced 40/60 Fund

33,263,641

25,197,973 

Mellon Balanced 60/40 Fund

57,080,095

40,452,622 

Mellon Balanced 80/20 Fund

71,212,974

49,760,056 

Mellon S&P 500 Select Fund

44,344,320

29,669,793 

Frank Russell Active Equity Fund

    129,963,466

      97,710,335 

3,176,645,198

2,165,527,862 

(continued)

 

13

COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
Years Ended December 31, 2003 and 2002

(CCT investments at fair value)

        December 31,        

      2003     

     2002     

Investments at Estimated Fair Value

Geewax Terker Hedge Fund

14,304,472

14,208,865

Guaranteed investment contracts

     221,728

     208,402

14,526,200

14,417,267

Investments at Cost, Which Approximates Fair Value

Participant loans

       19,666,768

       20,861,715

Total Common/Collective Trust Assets

$ 3,210,838,166
============

$ 2,200,806,844
===========

Plan's Interest in CCT Assets

$ 1,631,369,629
============

$ 1,292,175,429
===========

The investment income (loss) of the CCT is summarized as follows:

       Year Ended December 31,       

     2003     

     2002     

Bonds and debentures

$  (3,203,211)

$   10,015,510 

CSC Stock Fund

225,688,912 

(108,787,494)

International equity portfolios

31,616,897 

(8,622,821)

Active Allocation Fund

22,947,087 

(20,078,067)

Brinson Balanced Fund

8,198,982 

(5,805,752)

Brinson Equity Fund

35,011,373 

(24,647,781)

Mellon Capital Aggr. Bond Fund

(140,146)

690,020 

Mellon Corporate Bond Fund

1,115,632 

3,612,141 

Mellon EB Enhanced Asset Allocation Fund

18,131 

(17,344)

Mellon EB Stock Index Fund

2,612,968 

(5,441,571)

Mellon Equity Fund

81,802,979 

(66,788,887)

Mellon Equity Completion Fund

48,521,154 

(19,801,599)

Mellon Government Bond Fund

(25,508)

41,899 

Mellon Index Fund

25,167 

(34,571)

Mellon S&P 500 Index Fund

60,150,473 

(63,790,246)

Pacific Mutual Enhanced Bond Fund

2,067,203 

4,264,662 

BlackRock Core Bond Fund

(41,957)

72,514 

Vanguard High Yield Bond Fund

1,249,638 

(626,885)

Mellon Balanced 40/60 Fund

3,819,800 

(782,720)

(continued)

14

COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
Years Ended December 31, 2003 and 2002

CCT income (loss), continued

       Year Ended December 31,       

     2003     

     2002     

Mellon Balanced 60/40 Fund

8,449,807

(4,249,948)

Mellon Balanced 80/20 Fund

13,140,177

(9,206,704)

Mellon S&P 500 Select Fund

8,613,367

(8,038,147)

Frank Russell Active Equity Fund

29,714,910

(27,340,693)

Geewax Terker Hedge Fund

            7,248

        (128,110)

Net appreciation (depreciation) in fair value of
  investments

581,361,083

(355,492,594)

Dividends

26,702,043

35,005,228

Interest

    24,604,425

    20,008,593

Common/Collective Trust Income (Loss)

$ 632,667,551
==========

$(300,478,773)
===========

Plan's Interest in the Common/Collective Trust Income   (Loss)


$ 273,730,836
==========


$(222,548,535)
===========


Note 8  Related-Party Transactions

Certain short-term investment funds are managed by The Bank of New York. The Bank of New York is the trustee as defined by the Plan and, therefore, these transactions qualify as party-in-interest transactions. The fees associated with these short-term investment funds were paid by the Company.

At December 31, 2003 and 2002, the Plan held 8,228,475 and 7,861,431 shares, respectively, of common stock of the Computer Sciences Corporation, the sponsoring employer, with a cost basis of $467,729,394 and $466,785,058, respectively.

Note 9   Mergers and Spinoffs

On February 25, 2003 the ECS Integrated Technology Solutions LLC 401(k) Plan ("ECS") was merged with the Plan and the net assets of ECS were transferred to the Plan. The management of the Company believes that the Plan merger was a tax-exempt transaction under the applicable provisions of the Code and, therefore, not subject to federal income taxes.

On April 22, 2003 the Information Technology Solutions, Inc. 401(k) Profit Sharing Plan ("ITS") was merged into the Plan and the net assets of ITS were transferred into the Plan. The management of the Company believes that the Plan merger was a tax-exempt transaction under the applicable provisions of the Code and, therefore, not subject to federal income taxes.

15

COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
Years Ended December 31, 2003 and 2002


In 2002, $85,007 was processed as loan spin-offs from the Plan to the JT-3 Plan. Also, $11,601 was transferred to the Plan from other defined contribution plans.

Note 10  Nonparticipant-Directed Investments

Information about the net assets and the significant components of the changes in net assets relating to the nonparticipant-directed investments is as follows as of December 31, 2003 and 2002, and for the two years ended December 31, 2003:

     2003     

     2002     

Net assets:

CSC common stock

$ 363,945,449 

$ 270,826,298 

Short-term investments

4,776,554 

3,606,539 

Accrued income

1,899 

2,963 

Net unsettled trades payable

     (2,499,148)

     (1,648,279)

CSC Stock Fund

$ 366,224,754 

$ 272,787,521 

Changes in net assets:

Net appreciation (depreciation) in fair value of   investments

80,356,760 

(107,637,878)

Interest income

644,777 

835,954 

Employer contributions

25,224,221 

25,428,236 

Participant contributions

17,656,757 

25,037,842 

Participant rollovers

203,279 

467,912 

Transfers to participant-directed investments

(9,143,659)

(8,182,718)

Plan to plan transfers

102,448 

(6,395)

Benefits paid to participants

  (21,607,349)

  (30,475,311)

Net Change

93,437,234 

(94,532,358)

CSC Stock Fund - beginning of the year

   272,787,521 

   367,319,879 

CSC Stock Fund - end of the year

$ 366,224,755
========== 

$ 272,787,521 
========== 

  

16

COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
Years Ended December 31, 2003 and 2002


Note 11  Derivative Financial Instruments

In the Plan's separate accounts, derivative financial instruments are used by the Plan's international equity manager primarily to hedge the currency risk component of the Plan's foreign investments. The fixed income investment manager is permitted to use certain specified types of derivative instruments as part of its strategy. This strategy includes the use of futures and options as substitutes for certain types of fixed income securities. Leveraging of the Plan's assets and speculation are prohibited. Currency hedge positions in aggregate are not permitted to exceed the level of exposure in the Plan's related assets.


Foreign Currency Exchange Contracts

The Plan enters into forward contracts to purchase and sell foreign currencies in the normal course of its investing activities to manager the currency exposure associated with the Plan's foreign equity investments. The terms of these contracts generally do not exceed one year. The credit risk associated with these contracts is minimal as they are entered into with a limited number of highly rated counterparties.

The Plan reflects the fair value of all forward contracts as an asset or liability in the Plan's financial statements. The fair value associated with the foreign currency contracts have been estimated by the valuing position of the contracts using the applicable spot rates and forward rates as of the reporting date. In the statement of net assets available for benefits, forward contracts to purchase foreign currency are shown as currency contract payables and forward contracts to sell foreign currency are shown as currency contract receivables. Changes in fair values are accounted for as net appreciation (depreciation) in fair value of investments.

Futures Contracts

The Plan enters into futures contracts in the normal course of its investing activities to manage market risk associated with the Plan's fixed income investments and to achieve overall investment portfolio objectives. These contracts involve elements of market risk in excess of amounts recognized in the statements of net assets available for benefits. The credit risk associated with these contracts is minimal as they are traded on organized exchanges and settled daily.

During 2003, the Plan was a party to futures contracts held for trading purposes for U.S. Treasury Bonds. Upon entering into a futures contract, the Plan is required to deposit either in cash or securities an amount ("initial margin") equal to a certain percentage of the nominal value of the contract. Subsequent payments are then made or received by the Plan, depending on the daily fluctuations in the value of the underlying contracts.

17

COMPUTER SCIENCES CORPORATION
MATCHED ASSET PLAN

NOTES TO FINANCIAL STATEMENTS
Years Ended December 31, 2003 and 2002


At December 31, 2003, the Plan had futures contracts to sell U.S. Treasury Bonds contracts with a notional amount of $7.8 million. Notional amounts do not quantify risk or represent assets or liabilities of the Plan, but are used in the calculation of cash settlements under the contracts.

The fair value of futures contracts in the statement of net assets available for benefits is zero at December 31, 2003, as settlements are by cash daily. Changes in fair values are accounted for as net appreciation (depreciation) in fair value of investments.

Subsequent Events

The merger of the DynCorp Capital Accumulation Retirement Plan ("CAP") and DynCorp Savings and Retirement Plan ("SARP") into the Plan is mandated by the terms of the 2003 DynCorp/CSC merger agreement, as approved by the Company's Board of Directors. The assets of CAP and SARP are expected to be merged into the Plan in 2004. The management of the Company believes that the Plan mergers will be a tax-exempt transaction under the applicable provisions of the Code and, therefore, not subject to federal income taxes.

In January of 2004, a new recordkeeping firm, replacing the predecessor firm, assumed the Plan's recordkeeping functions.

18

 

SIGNATURES

 

The Plan. Pursuant to the requirements of the Securities Act of 1934, the Computer Sciences Corporation Retirement Plans Committee has duly caused this annual report to be signed on its behalf by the undersigned thereunto duly authorized. 

 

Computer Sciences Corporation
MATCHED ASSET PLAN

 

 

Date: June 28, 2004

By: /s/ LEON J. LEVEL
Leon J. Level
Chairman,
Computer Sciences Corporation
Retirement Plans Committee

 

19

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
        

(e) Current Value
               

Australian Dollar

Foreign currency

$ 15,530

Canadian Dollar

Foreign currency

25,057

Danish Krona

Foreign currency

180

Euro

Foreign currency

269,540

Hong Kong Dollar

Foreign currency

2,058

Japanese Yen

Foreign currency

99,014

Norwegian Krona

Foreign currency

6,488

Pounds Sterling

Foreign currency

10,185

Singapore Dollar

Foreign currency

671

Swedish Krona

Foreign currency

97,702

Swiss Francs

Foreign currency

             1,485

Foreign currency

527,910

State Street Global Advisor

SSGA Short Term Investment Fund

133,017,884

Mellon Capital Management Corp.

Mellon Temporary Investment Fund

9

*

The Bank of New York

Collective Short Term Invest Fdnon-Discretionary

18,887,330

*

The Bank of New York

BNY Collective Trust STIF Trust

          311,017

Short-term investments

152,216,240

*

Computer Sciences Corporation

Common Stock - 8,228,475 shares

467,729,394

363,945,449

 

 

Computer Sciences Corporation

 

Participant loans (5% -5.25%, maturing 3/7/03 - 1/11/19)

 

 

 

19,637,145

Mellon Capital Management Corp.

Mellon EB Daily Liquidity Enhanced Asset Allocation Fd

113,850,006

Mellon Capital Management Corp.

S&P 500 Index - Daily Liquidity Stock Index Fund

297,564,493

The Vanguard Group

Vanguard High Yield Corp Bond fund

20,271,765

Mellon Capital Management Corp.

Mellon EB Daily Liquidity Aggregate Bond Index Fd

19,949,685

Mellon Capital Management Corp.

Mellon EB Daily Market Completion Fund

3,172,361

Mellon Capital Management Corp.

Daily Liquidity Stock Index Fund

       10,141,595

Mellon Balanced 40/60 Fund

33,263,641

 

S-1

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
        

(e) Current Value
                

Mellon Capital Management Corp.

Mellon EB Daily Liquidity Aggregate Bond Index Fd

22,663,516

Mellon Capital Management Corp.

Mellon EB Daily Market Completion Fund

8,261,764

Mellon Capital Management Corp.

Daily Liquidity Stock Index Fund

           26,154,815

Mellon Balanced 60/40 Fund

57,080,095

Mellon Capital Management Corp.

Mellon EB Daily Liquidity Aggregate Bond Index Fd

14,096,841

Mellon Capital Management Corp.

Mellon EB Daily Market Completion Fund

13,696,957

Mellon Capital Management Corp.

Daily Liquidity Stock Index Fund

   43,419,176

Mellon Balanced 80/20 Fund

71,212,974

State Street Global Advisor

SSGA Index Plus Secs Lending Ser A Fund

44,344,320

Mellon Capital Management Corp.

Mellon EB Daily Market Completion Fund

72,904,718

Frank Russell Trust Company

Frank Russell Equity #1 Fund

129,173,572

Capital Auto Receivables Assettr2002-3 Asset Bkd Nt Cl A-3

Corporate Fixed Income

3.58%

10/16/06

1,230,090

Chase Cr Card Owner Tr V/R2003-6 Asset Bkd Ntser 6 Cl A

Corporate Fixed Income

1.20%

02/15/11

1,626,561

Chase Manhattan Auto Owner Tr2000-A Asset Bkd Nt Cl A-4

Corporate Fixed Income

6.26%

06/15/07

643,009

Citibank Cr Card Issuance Tr2003-A5 Nt

Corporate Fixed Income

2.50%

04/07/08

2,103,413

Citibank Cr Card Master Tr I1997-6 Partn Ctf Cl A 'Po,Sb'

Corporate Fixed Income

08/15/06

1,191,389

Citigroup Incnt

Corporate Fixed Income

6.75%

12/01/05

928,863

Conseco Fin Securitizationscorp2000-1 Mfd Hsg Sr/Sub Passthrucl A-3

Corporate Fixed Income

7.30%

05/01/31

12,214

Cwmbs Inc Pass Thru Ctfschl Mtg Passthru Ctf 2001-Hyb1

Corporate Fixed Income

3.16%

06/19/31

159,203

Daimlerchrysler Auto Tr2000-D Asset Backed Nt Cl A-4

Corporate Fixed Income

6.70%

03/08/06

1,681,416

Daimlerchrysler Auto Tr2000-E Asset Bkd Nt Cl A-4

Corporate Fixed Income

6.16%

01/08/06

1,238,320

Deutsche Mortgage & Asset Receivingabs/Ser 1998-C1 Cl A-1

Corporate Fixed Income

6.22%

06/15/31

134,971

First Rep Mtg Ln Tr V/Rcmo/Ser 2000 Cl-A2

Corporate Fixed Income

3.85%

06/25/30

262,189

Ford Cr Auto Owner Tr2001-C Asset Bkd Nt Cl A-4

Corporate Fixed Income

4.83%

02/15/05

264,311

General Elec Cap Corp M/T/Nser-A

Corporate Fixed Income

9.83%

12/15/08

224,412

 

S-2

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
        

(e) Current Value
                

Gmac Coml Mtg Sec Inc2003-C1 Mtg Passthru Ctf Cl

Corporate Fixed Income

2.02%

05/10/36

972,741

Gs Mtg Secs Corp Ii V/Rcoml Mtg Passthru 2003-C1 Cl

Corporate Fixed Income

1.08%

01/10/40

987,574

Ifc Sbap 97-1A V/R

Corporate Fixed Income

01/15/24

525,671

Internatl Bk For Re Dev6.0152

Corporate Fixed Income

6.02%

06/21/04

536,863

Lb-Ubs Coml Mtg Tr

Corporate Fixed Income

1.36%

04/15/37

930,241

Missouri Higher Ed Ln Auth Student Lnrevt-Bill Fltg Rate Nts-Ptaxable Call

Corporate Fixed Income

07/25/08

525,778

Nissan Auto Receivables 2001-Bowner Trasset Bkd Nt Cl A-4

Corporate Fixed Income

5.35%

10/15/06

1,446,574

Nissan Auto Receivables 2001-Cowner Trasset Backed Nt Cl A-3

Corporate Fixed Income

4.31%

05/16/05

260,542

Nissan Auto Receivables 2001-Cowner Trser 2001-C Cl A4

Corporate Fixed Income

4.80%

02/15/07

1,864,784

Nissan Auto Receivables 2002 Aowner Trasset Backed Nt Cl A-3

Corporate Fixed Income

3.58%

09/15/05

910,285

Nissan Auto Receivables 2002 Bowner Trasset Backed Nt Cl A-3

Corporate Fixed Income

3.99%

12/15/05

1,370,158

Residential Accredit Lns Incmtg Pass Thru Ctfa-1-Fixed Rt122001

Corporate Fixed Income

6.00%

12/25/16

426,491

Sears Cr Account Master Tr Iictf Ser 1998-2 Cl A

Corporate Fixed Income

5.25%

10/16/08

624,763

Sears Cr Account Master Tr Iiser 2000-4 Tr Ctf Cl A Fltg

Corporate Fixed Income

1.44%

10/18/11

1,456,553

Sequoia Mtg Tr 2Coll Mtg Bond Cl A-1

Corporate Fixed Income

2.35%

10/25/24

754,676

Slm Corp M/T/N

Corporate Fixed Income

5.63%

04/10/07

65,020

Slm Student Ln Tr2002-1 Ln-Bkd Nt Cl A-1 Fltg

Corporate Fixed Income

1.15%

10/25/10

1,864,175

State Str Cap Tr Iigtd Med Term Cap Secs Fltg

Corporate Fixed Income

02/15/08

326,034

Tms Sba Ln Tr V/R1997-1A

Corporate Fixed Income

6.50%

01/15/25

332,620

Tms Sba Ln Tr1996-2 Sba Ln Bkd Ctf Cl A Adja-Var Rate122096

Corporate Fixed Income

4.23%

04/15/24

388,782

Tms Sba Ln Tr1997-1 Sba Ln Bkd Ctf Cl Badj Rate

Corporate Fixed Income

6.02%

01/15/25

233,120

Tyco Intl Grp Sa

Corporate Fixed Income

6.38%

06/15/05

394,688

Union Planters Mtg Fin Corpser 1999-1 Mtg Passthru Ctf Cla-1

Corporate Fixed Income

6.25%

04/01/29

248,732

Virginia Elec & Pwr Co

Corporate Fixed Income

5.75%

03/31/06

497,876

 

S-3

 

2003
Form 5500, Schedule H, Part IV, Line 4I
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
        

(e) Current Value
                

Wachovia Asset Securitization2002-1 Tr2002-1 Mtg Passthru Ctf Cl

Corporate Fixed Income

6.25%

10/25/33

249,353

Washington Mut Mtg Secs Corp2001-9 Mtg Passthru Ctf Cl 1A1Rate

Corporate Fixed Income

6.76%

04/25/28

239,705

Washington Mut Mtg Secs Corp2002-Ar1 Msc Mtg Passthru Ctfvar Rate

Corporate Fixed Income

3.72%

11/25/30

445,936

Washington Mut Mtg Secs Corp2002-Ms1 Mtg Passthru Ctf Clii-A-1-Fixed Rt

Corporate Fixed Income

6.25%

02/25/32

575,590

Abn Amro Mtg Corp2002-3 Mc Mtg Passthru Ctfa-4-Fixed Rt032202

Corporate Fixed Income

6.50%

04/25/17

53,527

Alcan Incnt

Corporate Fixed Income

6.13%

12/15/33

50,305

American Gen Corptr Pfd Secs-Trups

Corporate Fixed Income

8.50%

07/01/30

45,506

Anadarko Fin Cosr Nt

Corporate Fixed Income

7.50%

05/01/31

105,433

Aol Time Warner Inc

Corporate Fixed Income

7.63%

04/15/31

167,297

Bank Amer Corp

Corporate Fixed Income

7.40%

01/15/11

187,653

Bank Amer Corpbank Amer Corpsr Nt

Corporate Fixed Income

4.38%

12/01/10

75,189

Bankamerica Corp Deb

Corporate Fixed Income

5.88%

02/15/09

120,527

Bear Stearns Cos Incbear Stearns Cos Incglobal Nt Dtd 01/15/2002

Corporate Fixed Income

5.70%

01/15/07

65,067

Bristol-Meyer Squibb

Corporate Fixed Income

6.88%

08/01/97

54,720

British Telecommunicationsp L Cnt

Corporate Fixed Income

8.88%

12/15/30

91,532

Canadian Pac Ry Co Newnt

Corporate Fixed Income

6.25%

10/15/11

82,425

Chase Coml Mtg Secs Corp1999-2 Coml Mtg Passthru Ctfcl A-2

Corporate Fixed Income

7.20%

01/15/32

288,935

Chase Manhattan Auto Owner Tr2000-A Asset Bkd Nt Cl A-4

Corporate Fixed Income

6.26%

06/15/07

392,950

Chrysler Corp

Corporate Fixed Income

7.45%

03/01/27

106,421

Citibank Cr Card Issuance Tr2003 A-6 Nt

Corporate Fixed Income

2.90%

05/17/10

488,884

Citigroup Inc

Corporate Fixed Income

5.75%

05/10/06

462,779

Citigroup Inc

Corporate Fixed Income

5.88%

02/22/33

137,594

Citigroup Incglobal Sr Nt Dtd 01/31/2003

Corporate Fixed Income

3.50%

02/01/08

100,375

Citigroup Incglobal Sub Nt

Corporate Fixed Income

6.00%

10/31/33

49,995

Citigroup Incglobal Sub Nt Dtd 10/11/2000

Corporate Fixed Income

7.25%

10/01/10

145,695

Comcast Cable Communications

Corporate Fixed Income

6.38%

01/30/06

80,741

Comcast Corp Newnt

Corporate Fixed Income

5.50%

03/15/11

171,504

Comcast Corp Newnt

Corporate Fixed Income

7.05%

03/15/33

190,367

Conoco Funding Co 6.35 15Oct2011

Corporate Fixed Income

6.35%

10/15/11

33,635

 

S-4

 

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
        

(e) Current Value
                

Conoco Inc Usd

Corporate Fixed Income

6.95%

04/15/29

221,138

Conocophillipsnt

Corporate Fixed Income

5.90%

10/15/32

35,093

Consolidated Nat Gas Cosr Nt

Corporate Fixed Income

5.00%

03/01/14

24,847

Continental Airls Pass Thrutrspassthru Ctf Ser 1999-1 Cl A

Corporate Fixed Income

6.55%

08/02/20

85,783

Continental Cablevision Inc Sr Nt

Corporate Fixed Income

8.30%

05/15/06

50,453

Cox Communications Inc Newnt Dtd 05/27/2003

Corporate Fixed Income

4.63%

06/01/13

24,103

Credit Suisse First Boston Mtgsecs Corpcoml Mtg Passthru Ctf 1998-C2Cl A-2

Corporate Fixed Income

6.30%

11/11/30

365,832

Credit Suisse First Boston Usaincnt

Corporate Fixed Income

6.13%

11/15/11

59,880

Credit Suisse First Boston Usaincsr Nt Dtd 01/15/2004

Corporate Fixed Income

3.88%

01/15/09

99,881

Daimler Chrysler North Amerhldg Corpnt

Corporate Fixed Income

4.75%

01/15/08

122,777

Daimlerchrysler Auto Tr2001-C Asset Bkd Nt Cl A-4

Corporate Fixed Income

4.63%

12/06/06

411,187

Daimlerchrysler North Amerhldg Corp

Corporate Fixed Income

6.50%

11/15/13

84,273

Daimlerchrysler North Amerhldg Corp

Corporate Fixed Income

4.05%

06/04/08

198,638

Depfa Acs Bkasset Covered Secs

Corporate Fixed Income

3.63%

10/29/08

300,054

Deutsche Alt-A Secs Incalternative Ln Tr2003-3 Mtg Passthru Ctf Cl 1A1

Corporate Fixed Income

5.50%

10/25/33

390,943

Deutsche Telekom Int 8.25 15Jun2005Gtd Nt

Corporate Fixed Income

8.25%

06/15/05

54,238

Deutsche Telekom Intl Fin B Vgtd Nt

Corporate Fixed Income

8.50%

06/15/10

48,365

Deutsche Telekom Intl Fin B Vgtd Nt

Corporate Fixed Income

8.75%

06/15/30

166,066

Devon Energy Corp

Corporate Fixed Income

7.95%

04/15/32

48,230

Diageo Fin Bvnt

Corporate Fixed Income

3.00%

12/15/06

65,340

Dlj Coml Mtg Corpcoml Mtg Passthru Ctf 1998-Cf1Cl A-1B

Corporate Fixed Income

6.41%

02/18/31

110,519

Dominion Res Inc Del

Corporate Fixed Income

5.13%

12/15/09

52,190

Dominion Res Inc Delsr Nt Ser E

Corporate Fixed Income

6.75%

12/15/32

37,415

Dow Chem Codeb Fltg Rate

Corporate Fixed Income

5.97%

01/15/09

53,790

Dow Chemical

Corporate Fixed Income

6.00%

10/01/12

73,685

Dow Chemical Co 7.375 01Nov29

Corporate Fixed Income

7.38%

11/01/29

117,406

Dte Energy Cont Dtd 05/30/2001

Corporate Fixed Income

6.45%

06/01/06

145,927

Exelon Corp

Corporate Fixed Income

6.75%

05/01/11

27,923

Firstenergy Corpnt Ser C

Corporate Fixed Income

7.38%

11/15/31

56,264

Ford Cr Auto Owner Tr2001-C Asset Bkd Nt Cl A-4

Corporate Fixed Income

4.83%

02/15/05

88,104

S-5

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
       

(e) Current Value
                

Fund Amern Cos Incgtd Sr Nt

Corporate Fixed Income

5.88%

05/15/13

111,333

General Elec Cap Corp M/T/N

Corporate Fixed Income

6.13%

02/22/11

247,527

General Elec Cap Corp M/T/Nterm Nts Book Entrytranche # Tr 00521

Corporate Fixed Income

5.88%

02/15/12

510,497

General Elec Cap Corp M/T/Nterm Nts Book Entrytranche # Tr 00528

Corporate Fixed Income

6.75%

03/15/32

27,678

General Mls Incnt

Corporate Fixed Income

5.13%

02/15/07

58,424

General Mtrs Accep Corp

Corporate Fixed Income

7.75%

01/19/10

45,342

General Mtrs Accep Corpgeneral Mtrs Accep Corpglobal Bdfor Issue Dtd 03/15/1996 See

Corporate Fixed Income

7.25%

03/02/11

246,850

Gmac Comm Mtg Sec Inc

Corporate Fixed Income

6.95%

09/15/33

481,791

Gmac Commercial Mortgage Secur

Corporate Fixed Income

6.18%

05/15/33

193,139

Goldman Sachs Group Inc

Corporate Fixed Income

6.88%

01/15/11

130,595

Goldman Sachs Group Inc M/T/N

Corporate Fixed Income

7.35%

10/01/09

23,326

Goldman Sachs Grp Inc

Corporate Fixed Income

5.25%

10/15/13

277,640

Goldman Sachs Inc

Corporate Fixed Income

6.60%

01/15/12

33,526

Gs Mtg Secs Corp Iicoml Mtg Passthru Ctf 1998-C1A-3-Fixed Rt102698

Corporate Fixed Income

6.14%

10/18/30

360,961

Heller Finl Coml Mtg Asset Corpmtg Passthru Ctf Ser 1999-Ph-1 Cl-A2

Corporate Fixed Income

6.85%

05/15/31

254,863

Household Fin Corp Nt

Corporate Fixed Income

6.45%

02/01/09

44,446

Household Fin Corpglobal Ntacquired By Household Intl Inc06/26/1981

Corporate Fixed Income

4.75%

07/15/13

165,340

Household Fin Corpnt Dtd 05/22/2002Acquired By Household Intl Inc06/26/1981

Corporate Fixed Income

7.00%

05/15/12

193,863

Household Fin Corpnt Dtd 05/22/2002Acquired By Household Intl Inc06/26/1981

Corporate Fixed Income

7.63%

05/17/32

30,227

Household Fin Corpntacquired By Household Intl Inc06/26/1981

Corporate Fixed Income

6.38%

10/15/11

126,636

Household Finance Corp

Corporate Fixed Income

5.88%

02/01/09

152,034

J P Morgan Chase & Co

Corporate Fixed Income

3.63%

05/01/08

145,291

J P Morgan Chase & Coglobal Nt Dtd 01/30/2001

Corporate Fixed Income

6.75%

02/01/11

84,569

J P Morgan Chase & Cosr Nt

Corporate Fixed Income

4.50%

11/15/10

55,437

J P Morgan Chase Coml Mtg Secscorp2001-Cibc2 Coml Mtg Passthru

Corporate Fixed Income

6.43%

04/15/35

384,678

Kellogg Cont Dtd 03/29/2001 Ser B

Corporate Fixed Income

6.60%

04/01/11

84,052

 

S-6

 

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
        

(e) Current Value
                

Kinder Morgan Energy Partnersl Psr Nt

Corporate Fixed Income

7.30%

08/15/33

96,585

Kinder Morgan Energy Partnersl Psr Nt

Corporate Fixed Income

5.00%

12/15/13

39,472

Kraft Foods Incglobal Nt Dtd 11/02/2001

Corporate Fixed Income

5.63%

11/01/11

305,559

Kraft Foods Incnt

Corporate Fixed Income

5.25%

06/01/07

90,432

Kroger Cont

Corporate Fixed Income

7.50%

04/01/31

86,420

Lehman Brothers Hldgs Inc

Corporate Fixed Income

7.00%

02/01/08

28,236

Lehman Brothers Hldgs Inclehman Brothers Hldgs Incglobal Nt

Corporate Fixed Income

6.25%

05/15/06

108,640

Lockheed Martin

Corporate Fixed Income

7.20%

05/01/36

183,791

Lockheed Martin Corp 8.50 01Dec2029

Corporate Fixed Income

8.50%

12/01/29

32,759

Mastr Asset Securitization Tr2002-6 Mtg Passthru Ctf Cl2-A-1-Fixed Rt092602

Corporate Fixed Income

5.75%

10/25/17

137,962

Morgan Stanley

Corporate Fixed Income

5.80%

04/01/07

81,524

Morgan Stanley Cap I Incmorgan Stanley Cap I Inccoml Mtg Passthru Ctf 98-Hf2Cl A-2

Corporate Fixed Income

6.48%

11/15/30

211,584

Morgan Stanley Co

Corporate Fixed Income

6.75%

04/15/11

101,828

Morgan Stanley Coglobal Nt Dtd 4/25/2001

Corporate Fixed Income

6.10%

04/15/06

108,212

News Amer Hldgs Inc Sr Deb

Corporate Fixed Income

7.75%

01/20/24

46,882

News Amer Hldgs Inc Sr Nt

Corporate Fixed Income

8.88%

04/26/23

32,049

Northrop Grumman 7.875 01Mar2026

Corporate Fixed Income

7.88%

03/01/26

90,642

Northrop Grumman Corpnt

Corporate Fixed Income

7.13%

02/15/11

63,612

Occidental Pete Corpsr Nt

Corporate Fixed Income

8.45%

02/15/29

58,991

Oncor Elec Delivery Co

Corporate Fixed Income

7.00%

05/01/32

55,158

Oncor Elec Delivery Cosr Secd Nt

Corporate Fixed Income

7.25%

01/15/33

45,503

Protective Life Secd Trs Secd M/T/N

Corporate Fixed Income

3.70%

11/24/08

104,666

Raytheon Cont Dtd 11/15/2002

Corporate Fixed Income

4.50%

11/15/07

40,556

Sears Cr Account Master Tr Ii2002-5 Tr Ctf Cl A Fltg Rate

Corporate Fixed Income

1.47%

11/17/09

775,595

Slm Corp M/T/Nentrytranche # Tr 00024

Corporate Fixed Income

5.63%

08/01/33

123,325

Slm Student Ln Tr V/R2003-3 Ln Bkd Ctf Cl A-2

Corporate Fixed Income

1.19%

06/15/10

528,540

Slm Student Ln Tr2001-3 Ln Bkd Nt Cl A-1L Fltg

Corporate Fixed Income

3.74%

04/25/10

37,555

 

S-7

 

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
       

(e) Current Value
                

Slm Student Ln Tr2002-1 Ln-Bkd Nt Cl A-1 Fltg

Corporate Fixed Income

1.15%

10/25/10

132,564

Slm Student Ln Tr2003-2 Ln Bkd Ctf Cl A-2

Corporate Fixed Income

1.20%

12/17/12

550,059

Structured Asset Secs Corp *Pp*2003-Al2 Asset Bkd Ctf Cl A144A

Corporate Fixed Income

3.36%

01/25/31

466,878

Structured Asset Secs Corpcoml Mtg Passthru Ctf 97-Lli Cl A2'Seq Payer'

Corporate Fixed Income

6.84%

10/12/34

905,923

Suncor Energy Incnt Dtd 11/24/2003Formerly Suncor Inc To04/17/1997

Corporate Fixed Income

5.95%

12/01/34

34,743

Swedish Expt Cr Corp-Ab Svensk-Medium Term Nts Book Entry-Tranche # Tr 00052

Corporate Fixed Income

2.88%

01/26/07

125,618

Tci Communications Inc Deb

Corporate Fixed Income

7.88%

02/15/26

29,229

Tci Communications Inc Deb

Corporate Fixed Income

7.13%

02/15/28

27,112

Time Warner Companies Incdeb

Corporate Fixed Income

7.57%

02/01/24

243,135

Tyco Intl Group S A 6.375 15Feb2006

Corporate Fixed Income

6.38%

02/15/06

31,950

Tyco Intl Group S Ant

Corporate Fixed Income

5.80%

08/01/06

52,875

Tyco Intl Group Sa

Corporate Fixed Income

6.38%

10/15/11

64,125

Tyco Intl Grp Sa

Corporate Fixed Income

6.38%

06/15/05

89,463

U S Bancorp M/T/N

Corporate Fixed Income

3.95%

08/23/07

25,723

Ubs Pfd Fdg Tr Itr Pfd Secs8.622% To 10/10 Thereafter V/R

Corporate Fixed Income

8.62%

10/29/49

240,361

Verizon Global Fdg Corpnt

Corporate Fixed Income

7.75%

12/01/30

117,471

Verizon Pennsylvania

Corporate Fixed Income

5.65%

11/15/11

319,893

Virginia Elec & Pwr Co

Corporate Fixed Income

5.75%

03/31/06

214,140

Virginia Elec & Pwr Covirginia Elec & Pwr Cosr Nt Ser C

Corporate Fixed Income

5.25%

12/15/15

25,086

Vodafone Group Plc New

Corporate Fixed Income

5.00%

12/16/13

273,864

Wal Mart Stores Incnt Dtd 08/15/2000

Corporate Fixed Income

7.55%

02/15/30

73,841

Washington Mut Mtg Secs Corp2002-Ms12 Mtg Passthru Ctf Cla-Fixed Rt121802

Corporate Fixed Income

6.50%

05/25/32

64,030

Wells Fargo Bk N A

Corporate Fixed Income

7.80%

06/15/10

107,930

Weyerhaeuser Codeb

Corporate Fixed Income

6.88%

12/15/33

97,630

Federal Home Loan Bank Discount

Government Agencies

01/14/04

1,443,952

Federal Home Ln Mtg Corpcmo/Ser 2654 Cl-Ob

Government Assets And Mortgage Backed

5.00%

03/15/18

1,346,051

Federal Home Ln Mtg Corpmulticlass Mtg Partn Ctfs Gtd1385-H-Fixed Rt082492

Government Assets And Mortgage Backed

6.50%

08/15/07

256,027

S-8

 

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
        

(e) Current Value
                

Federal Home Ln Mtg Corpmulticlass Mtg Partn Ctfs Gtd1385-H-Fixed Rt082492

Government Assets And Mortgage Backed

6.50%

08/15/07

256,027

Federal Natl Mtg Assn Gtd Remiccmo/Ser 2002-14 Cl-T-6

Government Assets And Mortgage Backed

3.31%

02/25/32

483,880

Federal Nat'L Mtge Assn Pool # 57375

Government Assets And Mortgage Backed

7.25%

04/01/09

109,401

Federal Nat'L Mtge Assn Pool # 86643

Government Assets And Mortgage Backed

5.32%

06/01/29

7,826

Federal Nat'L Mtge Assn Pool # 251904

Government Assets And Mortgage Backed

6.00%

08/01/08

289,678

Federal Nat'L Mtge Assn Pool # 252317

Government Assets And Mortgage Backed

5.50%

02/01/09

470,983

Federal Nat'L Mtge Assn Pool # 303567

Government Assets And Mortgage Backed

5.50%

07/01/09

510,672

Federal Nat'L Mtge Assn Pool # 313179

Government Assets And Mortgage Backed

6.00%

09/01/11

1,133,689

Federal Nat'L Mtge Assn Pool # 313829

Government Assets And Mortgage Backed

6.50%

01/01/11

395,283

Federal Nat'L Mtge Assn Pool # 323290

Government Assets And Mortgage Backed

6.00%

09/01/13

504,223

Federal Nat'L Mtge Assn Pool # 323395

Government Assets And Mortgage Backed

6.00%

05/01/13

312,446

Federal Nat'L Mtge Assn Pool # 323952

Government Assets And Mortgage Backed

6.00%

07/01/09

677,908

Federal Nat'L Mtge Assn Pool # 460770

Government Assets And Mortgage Backed

3.61%

12/01/09

941,381

Federal Nat'L Mtge Assn Pool # 482862

Government Assets And Mortgage Backed

6.00%

02/01/14

614,208

Federal Nat'L Mtge Assn Pool # 483324

Government Assets And Mortgage Backed

6.00%

04/01/14

764,821

Federal Nat'L Mtge Assn Pool # 484751

Government Assets And Mortgage Backed

6.00%

03/01/14

443,202

Federal Nat'L Mtge Assn Pool # 489421

Government Assets And Mortgage Backed

6.00%

03/01/14

672,095

Federal Nat'L Mtge Assn Pool # 537950

Government Assets And Mortgage Backed

3.59%

02/01/24

841,828

Federal Nat'L Mtge Assn Pool # 542141

Government Assets And Mortgage Backed

3.51%

08/01/22

405,093

Federal Nat'L Mtge Assn Pool # 545036

Government Assets And Mortgage Backed

6.00%

12/01/10

370,318

Federal Nat'L Mtge Assn Pool # 545142

Government Assets And Mortgage Backed

6.00%

11/01/10

751,953

Federal Nat'L Mtge Assn Pool # 545828

Government Assets And Mortgage Backed

6.00%

12/01/14

650,615

 

S-9

 

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
        

(e) Current Value
               

Federal Nat'L Mtge Assn Pool # 545828

Government Assets And Mortgage Backed

6.00%

12/01/14

650,615

Federal Nat'L Mtge Assn Pool # 555255

Government Assets And Mortgage Backed

6.25%

04/01/40

901,040

Federal Nat'L Mtge Assn Pool # 675970

Government Assets And Mortgage Backed

5.18%

10/01/32

922,256

Federal Nat'L Mtge Assn Pool # 0323331

Government Assets And Mortgage Backed

6.50%

11/01/08

507,365

Fed'L Home Loan Mtge Corp Grp # 775626

Government Assets And Mortgage Backed

4.40%

09/01/23

530,534

Fed'L Home Loan Mtge Corp Grp # E65216

Government Assets And Mortgage Backed

6.00%

07/01/10

622,474

Fed'L Home Loan Mtge Corp Grp # E65283

Government Assets And Mortgage Backed

6.00%

06/01/09

310,748

Fed'L Home Loan Mtge Corp Grp # E69338

Government Assets And Mortgage Backed

6.00%

03/01/13

153,813

Fed'L Home Loan Mtge Corp Grp # E70007

Government Assets And Mortgage Backed

6.00%

04/01/13

151,106

Fed'L Home Loan Mtge Corp Grp # E70008

Government Assets And Mortgage Backed

6.00%

04/01/13

172,678

Fed'L Home Loan Mtge Corp Grp # E70052

Government Assets And Mortgage Backed

6.00%

01/01/09

287,073

Fed'L Home Loan Mtge Corp Grp # E73239

Government Assets And Mortgage Backed

6.00%

11/01/13

176,124

Fed'L Home Loan Mtge Corp Grp # 788612

Government Assets And Mortgage Backed

7.33%

03/01/31

78,175

Fed'L Home Loan Mtge Corp Grp # E00247

Government Assets And Mortgage Backed

5.50%

10/01/08

477,503

Fed'L Home Loan Mtge Corp Grp # E00540

Government Assets And Mortgage Backed

6.00%

03/01/13

158,482

Fed'L Home Loan Mtge Corp Grp # E00565

Government Assets And Mortgage Backed

6.00%

08/01/13

614,795

Fed'L Home Loan Mtge Corp Grp # E00584

Government Assets And Mortgage Backed

6.00%

11/01/13

304,438

Fed'L Home Loan Mtge Corp Grp # E00677

Government Assets And Mortgage Backed

6.00%

06/01/14

244,616

Fed'L Home Loan Mtge Corp Grp # E20193

Government Assets And Mortgage Backed

6.50%

09/01/10

85,418

Fed'L Home Loan Mtge Corp Grp # E71201

Government Assets And Mortgage Backed

5.50%

07/01/13

87,771

Fed'L Home Loan Mtge Corp Grp # E84812

Government Assets And Mortgage Backed

6.00%

02/01/09

406,005

Gov'T Nat'L Mgt Assn Pool# 412330

Government Assets And Mortgage Backed

7.00%

09/15/12

110,333

 

S-10

 

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
        

(e) Current Value
                

Gov'T Nat'L Mtge Assn Pool # 326849

Government Assets And Mortgage Backed

7.00%

12/15/07

7,889

Gov'T Nat'L Mtge Assn Pool # 331394

Government Assets And Mortgage Backed

7.00%

12/15/07

71,716

Gov'T Nat'L Mtge Assn Pool # 335037

Government Assets And Mortgage Backed

7.00%

10/15/07

27,275

Gov'T Nat'L Mtge Assn Pool # 335606

Government Assets And Mortgage Backed

7.00%

12/15/07

107,233

Gov'T Nat'L Mtge Assn Pool # 345352

Government Assets And Mortgage Backed

7.00%

09/15/08

51,086

Gov'T Nat'L Mtge Assn Pool # 346815

Government Assets And Mortgage Backed

7.00%

10/15/08

157,053

Gov'T Nat'L Mtge Assn Pool # 359290

Government Assets And Mortgage Backed

7.00%

09/15/08

71,180

Gov'T Nat'L Mtge Assn Pool # 363744

Government Assets And Mortgage Backed

7.00%

09/15/08

142,472

Gov'T Nat'L Mtge Assn Pool # 368788

Government Assets And Mortgage Backed

7.00%

10/15/08

14,920

Gov'T Nat'L Mtge Assn Pool # 780487

Government Assets And Mortgage Backed

7.25%

04/15/06

65,989

Gov'T Nat'L Mtge Assn Pool # 780985

Government Assets And Mortgage Backed

6.00%

12/15/08

333,430

Gov'T Nat'L Mtge Assn Pool # 781284

Government Assets And Mortgage Backed

6.00%

02/15/11

447,933

F N M A Pool # 5359116.5% 5/1/31Held As Collateral At Merrill Lynch31384Wky5

Government Assets And Mortgage Backed

6.50%

05/01/31

52,090

Federal Natl Mtg Assn Remic Trcmo/Ser 1993-221 Cl-D 'Pac(11)'

Government Assets And Mortgage Backed

6.00%

12/25/08

235,330

Federal Natl Mtg Assn Remic Trpass Thru Tr Ser 2003-87 Cl-Tj

Government Assets And Mortgage Backed

4.50%

09/25/18

188,260

Federal Natl Mtg Assn Remic Trremic Pass Thru Trab-Rcr-Fixed Rt

Government Assets And Mortgage Backed

6.00%

11/25/29

149,783

Federal Nat'L Mtge Assn Pool # 252345

Government Assets And Mortgage Backed

6.00%

03/01/14

229,007

Federal Nat'L Mtge Assn Pool # 254407

Government Assets And Mortgage Backed

7.00%

08/01/32

378,667

Federal Nat'L Mtge Assn Pool # 545556

Government Assets And Mortgage Backed

7.00%

04/01/32

75,518

Federal Nat'L Mtge Assn Pool # 545900

Government Assets And Mortgage Backed

5.50%

07/01/17

58,067

Federal Nat'L Mtge Assn Pool # 555531

Government Assets And Mortgage Backed

5.50%

06/01/33

177,363

 

S-11

 

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation

EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
        

(e) Current Value
                

Federal Nat'L Mtge Assn Pool # 562319

Government Assets And Mortgage Backed

7.00%

01/01/31

5,820

Federal Nat'L Mtge Assn Pool # 575493

Government Assets And Mortgage Backed

5.50%

04/01/17

27,814

Federal Nat'L Mtge Assn Pool # 635064

Government Assets And Mortgage Backed

7.00%

07/01/32

76,778

Federal Nat'L Mtge Assn Pool # 647484

Government Assets And Mortgage Backed

7.00%

06/01/32

13,680

Federal Nat'L Mtge Assn Pool # 746452

Government Assets And Mortgage Backed

4.00%

09/01/18

96,965

Fed'L Home Loan Mtge Corp Grp # A11986

Government Assets And Mortgage Backed

5.00%

08/01/33

869,442

Fed'L Home Loan Mtge Corp Grp # A12429

Government Assets And Mortgage Backed

5.50%

08/01/33

48,181

Fed'L Home Loan Mtge Corp Grp # C49499

Government Assets And Mortgage Backed

6.50%

04/01/31

15,435

Fed'L Home Loan Mtge Corp Grp # C90213

Government Assets And Mortgage Backed

7.00%

04/01/18

59,289

Fed'L Home Loan Mtge Corp Grp # E00627

Government Assets And Mortgage Backed

5.50%

02/01/14

385,499

Fed'L Home Loan Mtge Corp Grp # E84752

Government Assets And Mortgage Backed

6.00%

08/01/16

29,163

Fed'L Home Loan Mtge Corp Grp # E88292

Government Assets And Mortgage Backed

6.00%

03/01/17

23,410

Fed'L Home Loan Mtge Corp Grp # E88978

Government Assets And Mortgage Backed

5.50%

04/01/17

205,127

Fed'L Home Loan Mtge Corp Grp # E89704

Government Assets And Mortgage Backed

6.00%

05/01/17

61,371

Fed'L Home Loan Mtge Corp Grp # E91724

Government Assets And Mortgage Backed

6.00%

10/01/17

477,050

Fed'L Home Loan Mtge Corp Grp # E91860

Government Assets And Mortgage Backed

5.50%

10/01/17

343,568

Fed'L Home Loan Mtge Corp Grp # G01391

Government Assets And Mortgage Backed

7.00%

04/01/32

297,027

Fed'L Home Loan Mtge Corp Grp # G01477

Government Assets And Mortgage Backed

6.00%

12/01/32

95,449

Fed'L Home Loan Mtge Corp Grp # G01534

Government Assets And Mortgage Backed

6.00%

04/01/33

1,551,881

Fed'L Home Loan Mtge Corp Grp # A13802

Government Assets And Mortgage Backed

5.00%

09/01/33

294,873

Fed'L Home Loan Mtge Corp Grp # E00975

Government Assets And Mortgage Backed

6.00%

05/01/16

8,756

Fed'L Home Loan Mtge Corp Grp # E01137

Government Assets And Mortgage Backed

6.00%

03/01/17

284,287

 

S-12

 

 

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
        

(e) Current Value
               

Fed'L Home Loan Mtge Corp Grp # E01137

Government Assets And Mortgage Backed

6.00%

03/01/17

284,287

Fed'L Home Loan Mtge Corp Grp # E01139

Government Assets And Mortgage Backed

6.00%

04/01/17

38,434

Fed'L Home Loan Mtge Corp Grp # E01140

Government Assets And Mortgage Backed

6.00%

05/01/17

174,963

Fed'L Home Loan Mtge Corp Grp # E01388

Government Assets And Mortgage Backed

4.00%

05/01/18

191,621

Fed'L Home Loan Mtge Corp Grp # E88959

Government Assets And Mortgage Backed

6.00%

04/01/17

25,747

Fed'L Home Loan Mtge Corp Grp # E89092

Government Assets And Mortgage Backed

6.00%

04/01/17

95,918

Fed'L Home Loan Mtge Corp Grp # E91030

Government Assets And Mortgage Backed

6.00%

08/01/17

219,377

Fhlmc Tba 15Yr Gold Sfm 05.50% Jan

Government Assets And Mortgage Backed

5.50%

01/01/19

310,781

Fhlmc Tba 15Yr Gold Sfm 06.00% Jan

Government Assets And Mortgage Backed

6.00%

01/01/17

(1,361,750)

Fhlmc Tba 30Yr Gold Sfm 05.00% Jan

Government Assets And Mortgage Backed

5.00%

01/01/34

394,750

Fhlmc Tba 30Yr Gold Sfm 06.50% Jan

Government Assets And Mortgage Backed

6.50%

01/01/34

1,675,500

Fnma Tba 15Yr Sfm 05.00% Jan

Government Assets And Mortgage Backed

5.00%

01/01/19

1,529,531

Fnma Tba 15Yr Sfm 05.50% Jan

Government Assets And Mortgage Backed

5.50%

01/01/19

103,594

Fnma Tba 15Yr Sfm 06.00% Jan

Government Assets And Mortgage Backed

6.00%

01/01/19

1,362,969

Fnma Tba 15Yr Sfm 06.50% Jan

Government Assets And Mortgage Backed

6.50%

01/25/19

741,781

Fnma Tba 15Yr Sfm 07.00% Jan

Government Assets And Mortgage Backed

7.00%

01/01/16

427,500

Fnma Tba 30Yr Sfm 05.50% Jan

Government Assets And Mortgage Backed

5.50%

01/01/33

607,688

Fnma Tba 30Yr Sfm 06.50% Jan

Government Assets And Mortgage Backed

6.50%

01/01/34

1,045,625

Gov'T Nat'L Mtge Assn Pool # 499416

Government Assets And Mortgage Backed

6.00%

02/15/29

16,733

Gov'T Nat'L Mtge Assn Pool # 572394

Government Assets And Mortgage Backed

7.00%

11/15/31

27,402

Gov'T Nat'L Mtge Assn Pool # 572474

Government Assets And Mortgage Backed

6.50%

12/15/31

145,818

Gov'T Nat'L Mtge Assn Pool # 582386

Government Assets And Mortgage Backed

6.00%

10/15/32

77,435

 

S-13

 

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
       

(e) Current Value
                

Gov'T Nat'L Mtge Assn Pool # 589206

Government Assets And Mortgage Backed

6.00%

10/15/32

23,439

Gov'T Nat'L Mtge Assn Pool # 590089

Government Assets And Mortgage Backed

5.50%

07/15/33

304,180

Gov'T Nat'L Mtge Assn Pool # 599742

Government Assets And Mortgage Backed

6.00%

10/15/32

17,735

Gov'T Nat'L Mtge Assn Pool # 781328

Government Assets And Mortgage Backed

7.00%

09/15/31

256,604

Gov'T Nat'L Mtge Assn Pool # 781496

Government Assets And Mortgage Backed

6.50%

09/15/32

262,806

Gov'T Nat'L Mtge Assn Pool # 781548

Government Assets And Mortgage Backed

7.00%

11/15/32

63,879

Small Business Admin Gtd Partnctfsser Sbic-Ps 2003-10 A

Government Assets And Mortgage Backed

4.52%

02/10/13

480,766

Federal Home Ln Mtg Corp

Government Fixed Income

3.50%

04/01/08

737,456

Federal Home Ln Mtg Corp

Government Fixed Income

3.13%

08/25/06

1,820,250

Federal Home Ln Mtg Corp Debmedium Term Nts Fed Book Entrydtd 03/22/2002

Government Fixed Income

03/22/06

1,761,484

Federal Home Ln Mtg Corpmedium Term Nts Fed Book Entrytranche # Tr 00116

Government Fixed Income

4.75%

12/08/10

939,881

Federal Natl Mtg Assn

Government Fixed Income

6.63%

10/15/07

1,888,563

Federal Natl Mtg Assn Deb

Government Fixed Income

5.75%

02/15/08

1,197,297

Federal Natl Mtg Assn M/T/N

Government Fixed Income

4.45%

05/03/05

1,517,813

U S Treas Nts

Government Fixed Income

2.00%

08/31/05

8,807,422

U S Treasury Bonds

Government Fixed Income

9.13%

05/15/09

334,547

U S Treasury Bonds

Government Fixed Income

10.38%

11/15/09

1,831,219

U S Treasury Bonds

Government Fixed Income

10.38%

11/15/12

2,928,277

U S Treasury Bondssca 11/15/00

Government Fixed Income

10.00%

05/15/10

1,001,813

U S Treasury Nts

Government Fixed Income

2.00%

11/30/04

1,596,392

United States Treas Notes

Government Fixed Income

1.63%

09/30/05

1,124,648

United States Treas Nts

Government Fixed Income

5.88%

11/15/04

1,066,000

United States Treas Nts

Government Fixed Income

6.75%

05/15/05

11,241,886

United States Treas Nts

Government Fixed Income

5.75%

11/15/05

1,932,750

United States Treas Nts

Government Fixed Income

3.50%

11/15/06

12,585,906

United States Treas Nts

Government Fixed Income

1.63%

04/30/05

25,078

United States Treas Nts

Government Fixed Income

1.63%

03/31/05

1,083,713

United States Treas Nts

Government Fixed Income

1.25%

05/31/05

12,588,450

United States Treas Nts

Government Fixed Income

1.13%

06/30/05

462,530

United States Treas Nts

Government Fixed Income

1.63%

10/31/05

15,365,953

 

S-14

 

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
        

(e) Current Value
                

United States Treas Nts

Government Fixed Income

1.50%

07/31/05

5,246,719

United States Treas Ntsdtd 00041

Government Fixed Income

1.88%

11/30/05

9,903,534

Federal Home Ln Bks Deb

Government Fixed Income

3.79%

11/21/08

651,016

Federal Home Ln Mtg Corp

Government Fixed Income

7.00%

03/15/10

175,031

Federal Home Ln Mtg Corp

Government Fixed Income

6.00%

06/15/11

549,450

Federal Home Ln Mtg Corp

Government Fixed Income

4.38%

02/04/10

379,763

Federal Home Ln Mtg Corp

Government Fixed Income

3.50%

04/01/08

348,797

Federal Home Ln Mtg Corp

Government Fixed Income

3.88%

11/10/08

1,443,703

Federal Home Ln Mtg Corpdeb Dtd 09/12/2003

Government Fixed Income

3.63%

09/15/08

70,459

Federal Home Ln Mtg Corpdeb Dtd 09/22/2000

Government Fixed Income

6.88%

09/15/10

696,938

Federal Home Ln Mtg Corpmedium Term Nts Fed Book Entrypreassign 00090

Government Fixed Income

4.63%

05/28/13

269,672

Federal Home Ln Mtg Corpmedium Term Nts Fed Book Entrytranche # Tr 00116

Government Fixed Income

4.75%

12/08/10

798,394

Federal Home Ln Mtg Corpmedium Term Nts Fed Book Entrytranche # Tr 00186

Government Fixed Income

4.50%

12/16/10

1,299,188

Federal Natl Mtg Assn

Government Fixed Income

7.13%

03/15/07

141,641

Federal Natl Mtg Assn

Government Fixed Income

4.63%

10/15/13

138,994

Federal Natl Mtg Assn

Government Fixed Income

4.38%

07/17/13

335,016

Federal Natl Mtg Assn

Government Fixed Income

6.00%

05/15/11

1,324,583

Federal Natl Mtg Assn

Government Fixed Income

7.25%

01/15/10

530,578

Federal Natl Mtg Assn

Government Fixed Income

6.63%

09/15/09

228,688

Federal Natl Mtg Assn Deb

Government Fixed Income

6.63%

11/15/10

258,539

Federal Natl Mtg Assn Deb

Government Fixed Income

5.75%

02/15/08

873,258

Federal Natl Mtg Assnfederal Natl Mtg Assnpreassign 00027Issues Dated 4/1/1996 & After

Government Fixed Income

7.13%

06/15/10

764,156

Federal Natl Mtg Assnfederal Natl Mtg Assnpreassign 00277Issues Dated 4/1/1996 & After

Government Fixed Income

1.75%

06/16/06

182,167

Federal Natl Mtg Assnfederal Natl Mtg Assnpreassign 00302Issues Dated 4/1/1996 & After

Government Fixed Income

3.75%

09/15/08

559,650

Resolution Fdg Corp Fed Bookentry Cpn Stripsgeneric Int Pmt

Government Fixed Income

10/15/18

33,448

Resolution Fdg Corp Fed Bookentry Cpn Stripsgeneric Int Pmtbd

Government Fixed Income

07/15/18

34,054

 

S-15

 

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
        

(e) Current Value
                

Resolution Fdg Corp Fed Bookentry Cpn Stripsgeneric Int Pmtbd

Government Fixed Income

07/15/18

34,054

U S Treas Nts

Government Fixed Income

3.25%

08/15/07

102,000

U S Treas Nts

Government Fixed Income

2.00%

08/31/05

2,154,044

U S Treasury Bd Stripped

Government Fixed Income

02/15/23

135,659

U S Treasury Bd Stripped

Government Fixed Income

11/15/22

535,972

U S Treasury Bonds

Government Fixed Income

8.50%

02/15/20

523,711

U S Treasury Bonds

Government Fixed Income

6.25%

08/15/23

1,025,719

U S Treasury Bonds

Government Fixed Income

6.00%

02/15/26

171,905

U S Treasury Bonds

Government Fixed Income

6.75%

08/15/26

484,125

U S Treasury Bonds

Government Fixed Income

8.13%

08/15/19

1,681,917

U S Treasury Bonds

Government Fixed Income

9.25%

02/15/16

452,123

U S Treasury Bonds

Government Fixed Income

10.38%

11/15/12

223,289

U S Treasury Bonds

Government Fixed Income

12.00%

08/15/13

1,927,280

U S Treasury Bonds

Government Fixed Income

5.38%

02/15/31

224,205

U S Treasury Stripped Prin7.25%

Government Fixed Income

7.25%

08/15/22

125,608

United Mexican Sts Mtn

Government Fixed Income

5.88%

01/15/14

74,063

United States Treas Nts

Government Fixed Income

5.00%

08/15/11

824,141

United States Treas Nts

Government Fixed Income

4.00%

11/15/12

1,059,634

United States Treas Nts

Government Fixed Income

1.63%

10/31/05

2,386,266

United States Treas Nts

Government Fixed Income

2.38%

08/15/06

105,558

United States Treas Nts

Government Fixed Income

3.38%

12/15/08

1,449,900

United States Treas Nts

Government Fixed Income

2.63%

11/15/06

116,006

United States Treas Nts

Government Fixed Income

4.25%

11/15/13

604,433

United States Treas Ntsdtd 00041

Government Fixed Income

1.88%

11/30/05

736,378

California St Dept Wtr Res Pwr Supplyrevser Etaxable Fitch Lt Rtg A- N/C

State And Local Obligations

3.59%

05/01/04

528,077

Texas St Pub Fin Auth Revtaxable-Unemployment Comp-B

State And Local Obligations

2.63%

06/15/06

711,583

California St Dept Wtr Res Pwrsupply Revtaxable-Ser E

State And Local Obligations

3.98%

05/01/05

101,613

Illinois Stfor Issues Dtd Prior To7/1/02 See 452150

State And Local Obligations

5.10%

06/01/33

735,576

New Jersey Economic Dev Auth St Pensionfdg Rev Ser B Taxable N/C Fsa

State And Local Obligations

02/15/24

217,575

Wisconsin St Gen Fd Annualappropriation Revtaxable-Ser A

State And Local Obligations

5.70%

05/01/26

55,910

Amresco Independence Fdg Inc1999-1 Sba Ln Bkd Ctf Adj Rate144A Cl A

Other Fixed Income

06/15/26

855,356

S-16

 

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
         

(e) Current Value
                

Bayview Finl Acquisition Tr 144A *Pp*1998-1 Mtg Passthru Ctf Cl A-I

Other Fixed Income

7.01%

05/25/29

372,235

Business Ln Ctr Inc V/R Restrsba/Abs 1998-1 Cl A Partn 144A

Other Fixed Income

6.75%

01/15/25

616,354

Gs Mtg Secs Corpser 2000-1 Mtg Passthru Ctf A144A

Other Fixed Income

1.50%

03/20/23

446,005

Pbg Equip Tr 144Areceivable Bkd Nt Cl A

Other Fixed Income

6.27%

01/20/12

660,607

Wachovia Bk Coml Mtg Tr2003-C5 Mtg Passthru Ctf X-P144A

Other Fixed Income

1.92%

06/15/35

524,539

Washington Mut Mtg Secs Corp2002-Ar2 Msc Mtg Passthru Ctfiii-A-1-Var Rate072902

Other Fixed Income

5.76%

08/25/32

683,317

Anz Cap Tr I *Pp*144A

Other Fixed Income

4.48%

01/29/49

105,839

Anz Cap Tr I *Pp*Tr Secs 144A

Other Fixed Income

5.36%

12/15/13

164,705

Asif Global Financing 3.9% 10/22/0800209Laa0Collateral Held At Merrill Lynch

Other Fixed Income

3.90%

10/22/08

267,459

Banc Amer Alternative Ln Tr2003-5 Mtg Passthru Ctf Cl

Other Fixed Income

5.00%

07/25/18

575,400

Banc Amer Fdg Corpbanc Amer Fdg Corp2003-1 Mtg Passthru Ctf Cl

Other Fixed Income

6.00%

05/20/33

231,821

Barclays Bk Plcstep Up Perpetual Reserve Capinstruments Rcisstep Cpn

Other Fixed Income

8.55%

09/29/49

325,577

Cadbury Schweppes Us Finanace *Pp*Llcgtd Sr Nt 144A

Other Fixed Income

5.13%

10/01/13

39,740

Pacific Lifecorp *Pp*Sr Nt 144A

Other Fixed Income

6.60%

09/15/33

42,244

Principal Life Global Fdg I M/T/N 144A

Other Fixed Income

5.25%

01/15/13

101,289

Canadian Natl Ry Codeb

Government Fixed Income

7.38%

10/15/31

117,978

Quebec Prov Cda

Government Fixed Income

7.50%

07/15/23

67,447

Quebec Prov Cda M/T/N V/Rrate = 6.29% To 3/03; 7.365% Thereafter

Government Fixed Income

7.37%

03/06/26

59,956

Quebec Prov Cda Mtn

Government Fixed Income

7.38%

04/09/26

59,714

United Mexican States

Government Fixed Income

8.13%

12/30/19

50,288

United Mexican Sts M/T/N

Government Fixed Income

8.38%

01/14/11

308,750

United Mexican Sts M/T/N

Government Fixed Income

4.63%

10/08/08

75,938

United Mexican Sts Medium Termnts Book Entrytranche # Tr 00009

Government Fixed Income

8.00%

09/24/22

136,750

Future T-Note 5Yr 1 Put 110.00 Mar 04

Derivative

(7,000)

Otc Fgold 5% 30Yr Put 96.96875 2/5/04

Derivative

(22,145)

 

S-17

 

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
        

(e) Current Value
               

Otc Fgold 5% 30Yr Put 96.96875 2/5/04

Derivative

(22,145)

Future T-Note 10Yr Cbot 100,000Usd/Cbot

Financial Futures

03/22/04

Future T-Note 5Yr 100,000Usd/Cbot

Financial Futures

03/22/04

Future U S T-Bond 100,000Usd/Cbot

Financial Futures

03/22/04

                       

Bonds and debentures

227,610,301

Flextronics Intl Ltd

Int'l Equity - Common Stocks

233,840

Abbey National Plc Ord Gbp0.10

Int'l Equity - Common Stocks

95,059

Abn Amro Holdings Nv Eur 0.56Ord Nlg1.25

Int'l Equity - Common Stocks

282,931

Acom Co Y50Second Section

Int'l Equity - Common Stocks

136,084

Acs Actividades Co Eur 1.50Cios Ord Esp

Int'l Equity - Common Stocks

209,857

Agfa Gevaert Nv

Int'l Equity - Common Stocks

228,110

Alcatel Sa Eur 2.0 Rfd

Int'l Equity - Common Stocks

124,952

Allied Irish Banks Plc Eur 0.32Eur0.32

Int'l Equity - Common Stocks

118,568

Altadis Sa Eur 0.6

Int'l Equity - Common Stocks

170,326

Amb Generali Hldg Ag Rfdbete Br Dem5

Int'l Equity - Common Stocks

176,664

Arcelor Sa

Int'l Equity - Common Stocks

489,276

Arcelor Sa (Fr Line)

Int'l Equity - Common Stocks

156,927

Assurances Generales De France Agffrance Ord Frf30

Int'l Equity - Common Stocks

575,872

Australia + New Zealand Bank.Groupgrp A!1

Int'l Equity - Common Stocks

271,775

Aventis Eur 3.82Ser A Frf25

Int'l Equity - Common Stocks

489,225

Aviva Plc 25Pord

Int'l Equity - Common Stocks

352,811

Banco Santander Cent Hisp Eur 0.5Eur0.5

Int'l Equity - Common Stocks

177,706

Bank Austria Creditanstalt Ag

Int'l Equity - Common Stocks

176,406

Bank Of Nova Scotiascotia Ord

Int'l Equity - Common Stocks

511,677

Basf Ag Npv

Int'l Equity - Common Stocks

106,866

Bhp Billiton Ltdnpv

Int'l Equity - Common Stocks

202,998

Bnp Paribas Eur 2.0

Int'l Equity - Common Stocks

504,466

Bp Amoco Capital//Plc Gbp0.25

Int'l Equity - Common Stocks

40,548

Brit Amer Tobacco Ord Gbp0.25Tobacco Ord

Int'l Equity - Common Stocks

173,684

C+S Co Ltd Npvltd Ord Npv

Int'l Equity - Common Stocks

95,968

S-18

 

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
       

(e) Current Value
                

Canon Incy50

Int'l Equity - Common Stocks

745,193

Clp Hldgs Hkd5Ord Hkd

Int'l Equity - Common Stocks

104,862

Continental Ag Npvdem5

Int'l Equity - Common Stocks

523,550

Credit Agricole Sa Eur3

Int'l Equity - Common Stocks

312,634

Credit Suisse Group Chf 1.0Namen-Akt.

Int'l Equity - Common Stocks

256,229

Daiichi Pharm Co Jpy50Pharmacuetical Y50

Int'l Equity - Common Stocks

126,162

Daito Trust Const Y50Daito Construction Jpy50

Int'l Equity - Common Stocks

225,574

Daiwa House Inds Jpy50Y50

Int'l Equity - Common Stocks

329,849

Danske Bank Ab Dkk 10.0

Int'l Equity - Common Stocks

215,897

Delhaize Groupet Cie (Le Lion) Sa Npv

Int'l Equity - Common Stocks

169,788

Depfa Bank Plc Eur 3.0

Int'l Equity - Common Stocks

138,923

Dutch State Mines Eur3

Int'l Equity - Common Stocks

551,522

E On Ag Npv

Int'l Equity - Common Stocks

476,535

East Japan Railwayco Ord Jpy50

Int'l Equity - Common Stocks

32,994

Eni Spa Eur 1.0

Int'l Equity - Common Stocks

783,295

Flextronics Intl Usd0.01Com Usd0.01

Int'l Equity - Common Stocks

233,840

France Telecom Eur 4.0Ordinary Shares Frf25

Int'l Equity - Common Stocks

339,757

Fraport Ag

Int'l Equity - Common Stocks

57,532

Futaba Corp Y50Jpy50

Int'l Equity - Common Stocks

54,601

Givaudan Sa Com Chf10

Int'l Equity - Common Stocks

88,287

Glaxosmithkline Plc 25P

Int'l Equity - Common Stocks

474,329

Hannover Rueckversicherung Agnamens-Akt.

Int'l Equity - Common Stocks

300,772

Heidelbergcement Agord Dem

Int'l Equity - Common Stocks

257,688

Hitachi Ltd

Int'l Equity - Common Stocks

241,180

Hitachi Maxell Y50

Int'l Equity - Common Stocks

84,450

Honda Motor Coy50

Int'l Equity - Common Stocks

617,547

Iberdrola Sa Eur 3.0Sppt500

Int'l Equity - Common Stocks

79,082

Intercontinental Hotels Group Plchotels Gro Gbp

Int'l Equity - Common Stocks

170,935

Itochu Corp

Int'l Equity - Common Stocks

148,684

Japan Tobacco Incjpy50000

Int'l Equity - Common Stocks

183,172

Jfe Holdings Inc

Int'l Equity - Common Stocks

191,105

Karstadt Ag Npvnpv

Int'l Equity - Common Stocks

37,093

 

S-19

 

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
       

(e) Current Value
                

Kbc Bankverzekerin Npv

Int'l Equity - Common Stocks

191,499

Kobe Steel Y50Y50

Int'l Equity - Common Stocks

97,555

Kyushu Elec Power Y500Power Ord Jpy500

Int'l Equity - Common Stocks

168,578

Lloyds Tsb Group Plc Ord 25Pplc Ord

Int'l Equity - Common Stocks

182,857

Magna Intl Comm Stcl-A Sub Vtg Com Npv

Int'l Equity - Common Stocks

202,486

Man Ag Orsh Npv

Int'l Equity - Common Stocks

12,137

Merck Kgaa Dem Npv

Int'l Equity - Common Stocks

162,525

Metro Ag Npvord Dem5

Int'l Equity - Common Stocks

114,648

Mitsubishi Corp

Int'l Equity - Common Stocks

127,235

Mitsui + Co Ltd

Int'l Equity - Common Stocks

128,878

Mitsui Chemicals Inc Ord Shsmitsui Petrochemical Indust

Int'l Equity - Common Stocks

110,836

Mitsui Osk Lines Jpy 50.0Y50

Int'l Equity - Common Stocks

141,562

Nichicon Corp Y50Jpy50

Int'l Equity - Common Stocks

37,677

Nichirei Corp Y50

Int'l Equity - Common Stocks

58,298

Nippon Meat Packers Incy50

Int'l Equity - Common Stocks

195,632

Nippon Telegraph + Telephone Corp

Int'l Equity - Common Stocks

260,575

Nissan Motor Coord Jpy50

Int'l Equity - Common Stocks

845,399

Nokia Corp Eur 0.06

Int'l Equity - Common Stocks

69,190

Oji Paper Co Jpy50Ltd Ord Jpy50

Int'l Equity - Common Stocks

251,895

Omv Ag Npvomv Ag

Int'l Equity - Common Stocks

268,160

Pearson Plc Gbp 0.25Ord

Int'l Equity - Common Stocks

55,675

Persimmon Ord 10P

Int'l Equity - Common Stocks

131,702

Petro-Canada Common Stk Npvcommon Stock

Int'l Equity - Common Stocks

247,330

Promise Cojpy50 Shares

Int'l Equity - Common Stocks

361,779

Qantas Airways Ltd Npvltd Ord

Int'l Equity - Common Stocks

108,336

Rexam Plc Gbp0.64285

Int'l Equity - Common Stocks

135,745

Royal Bank Canadacom Stk Npv

Int'l Equity - Common Stocks

286,997

Royal Dutch Petrol Eur 0.56Ord Nlg1.25

Int'l Equity - Common Stocks

158,213

Royal+Sun Alliance Ord Gbp0.275

Int'l Equity - Common Stocks

151,349

Safeway Gbp0.25Ord

Int'l Equity - Common Stocks

231,328

Sankyo Co Ltd Gunmanpv

Int'l Equity - Common Stocks

126,937

Shell Trnspt+Trdg Gbp0.25Ord

Int'l Equity - Common Stocks

243,230

Shire Pharma Group Ord 5Pgroup Ord

Int'l Equity - Common Stocks

116,541

Siemens Ag Npv(Regd)(Registered)

Int'l Equity - Common Stocks

400,580

Signet Group Plc 0.5P

Int'l Equity - Common Stocks

73,756

S-20

 

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
       

(e) Current Value
                

Singapore Airlines Sgd 0.5Sgd1 (Local Reg)

Int'l Equity - Common Stocks

106,472

Soc Generale Eur 1.25

Int'l Equity - Common Stocks

476,911

Sony Corp

Int'l Equity - Common Stocks

294,335

Sumitomo Corp Y50

Int'l Equity - Common Stocks

171,523

Sumitomo Mitsui Financial Group

Int'l Equity - Common Stocks

399,711

Svenska Cellulosa Ser B Sek10Ser 'B' Swkr10 Free

Int'l Equity - Common Stocks

318,885

Takeda Chem Inds

Int'l Equity - Common Stocks

230,073

Tanabe Seiyaku Co

Int'l Equity - Common Stocks

81,202

Taylor Woodrow Ord 25Pord

Int'l Equity - Common Stocks

214,135

Telecom Italia Spa Eur 0.55

Int'l Equity - Common Stocks

102,761

Telefonica Sa Eur 1.0Stock Split

Int'l Equity - Common Stocks

246,722

Tohoku Electric Power Co Inc Y500Y500

Int'l Equity - Common Stocks

114,442

Tokyo Electric Power Co Inc Y500

Int'l Equity - Common Stocks

131,604

Total Sa Eur 10.0Frf50

Int'l Equity - Common Stocks

409,134

Toyota Motor Corpy50

Int'l Equity - Common Stocks

692,645

Ufj Holdings

Int'l Equity - Common Stocks

413,384

Unicredito Itlo Spa Eur 0.5S Ord Itl500 (Dem Line)

Int'l Equity - Common Stocks

107,999

United Overseas Bank Ltd Sgd 1.0

Int'l Equity - Common Stocks

116,601

Uny Co Y50(Regd)(Sicovam)Jpy50

Int'l Equity - Common Stocks

82,136

Vodafone Usd 0.10Ord Usd0.10

Int'l Equity - Common Stocks

536,049

Volkswagen Ag Ord Npv

Int'l Equity - Common Stocks

540,317

Westpac Banking Corp Npvord Aud1

Int'l Equity - Common Stocks

159,045

Whitbread Ord Gbp.50

Int'l Equity - Common Stocks

262,578

Wimpey(George) Ord 25Pord

Int'l Equity - Common Stocks

209,811

Wolters Kluwer Nv Eur 0.12

Int'l Equity - Common Stocks

62,579

Forward CHF/USDt/D

Forward Contracts

03/18/04

(308,027)

Forward DKK/USDt/D

Forward Contracts

03/18/04

(169,063)

Forward EUR/USDt/D

Forward Contracts

03/18/04

(75,504)

Forward EUR/USDt/D

Forward Contracts

03/18/04

(880,880)

Forward JPY/USDt/D

Forward Contracts

03/18/04

(5,052,802)

Forward USD/CHFt/D

Forward Contracts

03/18/04

302,704

Forward USD/DKKt/D

Forward Contracts

03/18/04

165,835

Forward USD/EURt/D

Forward Contracts

03/18/04

71,634

Forward USD/EURt/D

Forward Contracts

03/18/04

852,607

Forward USD/JPYt/D

Forward Contracts

03/18/04

       5,044,937

S-21

 

2003
Form 5500, Schedule H, Part IV, Line 4i
Matched Asset Plan
PN 001
Computer Sciences Corporation
EIN 95-2043126

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

(a)
   

(b) Identity of issue, borrower,
lessor or similar party

(c) Description of investment including maturity date,
rate of interest, collateral, par or maturity value

(d) Cost
       

(e) Current Value
               

International equity investments

27,545,272

New England Financial Ga 7174 1-06

Guaranteed Insurance Contract

7.00%

12/31/04

46,132

New England Financial Ga 7174 1-07

Guaranteed Insurance Contract

6.75%

12/31/05

          175,596

Guaranteed investment contracts

          221,728

Total Assets Held at End of Year

$ 1,631,369,629
===========

* represents party in interest

  

S-22

Exhibit 23

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

We consent to the incorporation by reference in Registration Statement No. 333-58526 of Computer Sciences Corporation on Form S-8 of our report dated June xx, 2004, appearing in this Annual Report on Form 11-K of the Computer Sciences Matched Asset Plan for the year ended December 31, 2003.

 

/s/ DELOITTE & TOUCHE LLP
Deloitte & Touche LLP

Los Angeles, California
June 28, 2004

E-1