-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, YLSb4FICZx2CdHuk4Oa5R8ak4F09yTQ9hx1M6YU3gG+2vUuSuxy/0CbNaYhgcEGw 9x7SV46Nl7RmjWEW2aVDDA== 0000064394-95-000016.txt : 19950601 0000064394-95-000016.hdr.sgml : 19950601 ACCESSION NUMBER: 0000064394-95-000016 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19941231 FILED AS OF DATE: 19950531 SROS: MSE SROS: NYSE SROS: PSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MEAD CORP CENTRAL INDEX KEY: 0000064394 STANDARD INDUSTRIAL CLASSIFICATION: PAPERS & ALLIED PRODUCTS [2600] IRS NUMBER: 310535759 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-02267 FILM NUMBER: 95543574 BUSINESS ADDRESS: STREET 1: MEAD WORLD HEADQUARTERS STREET 2: COURTHOUSE PLZ NORTHEAST CITY: DAYTON STATE: OH ZIP: 45463 BUSINESS PHONE: 5134956323 10-K/A 1 ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K/A [X] AMENDMENT NO. 2 TO ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 1994 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _______ Commission File No. 1-2267 THE MEAD CORPORATION (Exact name of registrant as specified in its charter) Ohio 31-0535759 (State of Incorporation) (I.R.S. Employer Identification No.) MEAD WORLD HEADQUARTERS COURTHOUSE PLAZA NORTHEAST DAYTON, OHIO 45463 (Address of principal executive offices) Registrant's telephone number, including area code: 513-495-6323 Securities registered pursuant to Section 12(b) of the Act: Name of Each Exchange Title of Each Class on which Registered ------------------- --------------------- Common Shares Without Par Value New York Stock Exchange and Common Share Purchase Rights Chicago Stock Exchange Pacific Stock Exchange 9% Debentures due 2017 New York Stock Exchange _________________________ Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No __. _________________________ Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [ ] _________________________ As of January 27, 1995, the aggregate market value of the voting shares held by non-affiliates of the Registrant was approximately $3,037,962,000 determined by multiplying the highest selling price of a Common Share on the New York Stock Exchange--Composite Transactions Tape on such date times the amount by which the total shares outstanding exceeded the shares beneficially owned by directors and executive officers of the Registrant. Such determination shall not, however, be deemed to be an admission that any person is an "affiliate" as defined in Rule 405 under the Securities Act of 1933. The number of Common Shares outstanding at February 28, 1995 was 57,941,098. DOCUMENTS INCORPORATED BY REFERENCE Portions of Registrant's Proxy Statement for the Annual Meeting of Shareholders scheduled to be held on April 27, 1995, are incorporated by reference in Part III; definitive copies of said Proxy Statement were filed with the Securities and Exchange Commission on March 16, 1995. ================================================================================ Pursuant to Rule 15d-21 under the Securities Exchange Act of 1934, the undersigned registrant (the Registrant) hereby amends its annual report on Form 10-K for the fiscal year ended December 31, 1994 to include the following information and financial statements required by Form 11-K with respect to The Mead Savings Plan for Bargaining Unit Employees (the Plan) for the year ended December 31, 1994: THE MEAD SAVINGS PLAN FOR BARGAINING UNIT EMPLOYEES TABLE OF CONTENTS - --------------------------------------------------- Page INDEPENDENT AUDITORS' REPORT 1 FINANCIAL STATEMENTS: Statements of Net Assets Available for Benefits as of December 31, 1994 and 1993 2 Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 1994 3 NOTES TO FINANCIAL STATEMENTS 4-7 SUPPLEMENTAL SCHEDULES: Schedule of Assets Held for Investment as of December 31, 1994 8 Schedule of Reportable Transactions in Excess of Five Percent of the Current Value of Plan Assets for the Year Ended December 31, 1994 9-10 EXHIBIT: Independent Auditors' Consent 11 Signatures 12 INDEPENDENT AUDITORS' REPORT Members of the Corporate Benefits Committee The Mead Savings Plan for Bargaining Unit Employees Dayton, Ohio We have audited the accompanying statements of net assets available for benefits of The Mead Savings Plan for Bargaining Unit Employees (the Plan) as of December 31, 1994 and 1993, and the related statement of changes in net assets available for benefits for the year ended December 31, 1994. 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 generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, such financial statements present fairly, in all material respects, the net assets available for benefits of the Plan at December 31, 1994 and 1993, and the changes in net assets available for benefits for the year ended December 31, 1994, in conformity with generally accepted accounting principles. Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of (1) assets held for investment as of December 31, 1994, and (2) reportable transactions in excess of five percent of the current value of plan assets for the year ended December 31, 1994, are presented for the purpose of additional analysis and are not a required part of the basic financial statements but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These schedules are the responsibility of the Plan's management. Such schedules have been subjected to the auditing procedures applied in our audit of the basic 1994 financial statements and, in our opinion, are fairly stated in all material respects when considered in relation to the basic financial statements taken as a whole. DELOITTE & TOUCHE LLP Dayton, Ohio April 25, 1995 THE MEAD SAVINGS PLAN FOR BARGAINING UNIT EMPLOYEES STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS DECEMBER 31, 1994 AND 1993 - ----------------------------------------------------------------- 1994 1993 ------------- ------------ ASSETS Investments (Note B): Mead Common Stock Fund $ 258,170 $ Fidelity Investment Funds: Magellan Fund 4,404,503 Equity Income Fund 1,550,871 Intermediate Bond Fund 181,753 Overseas Fund 645,148 Asset Manager Fund 1,067,185 Asset Manager: Growth Fund 1,716,895 Asset Manager: Income Fund 403,254 Short Term Bond Fund 1,027,560 Retirement Money Market Fund 258,922 US Equity Index Pool Fund 66,129 Twentieth Century Select Fund 3,212,023 Vanguard Equity Income Fund 1,773,480 Short-Term Investments 842,058 U.S. Treasury Obligations 802,502 Other Investments 162,567 Loans to Participants 297,080 Interest receivable 13,847 ------------- ------------ Total assets 11,877,470 6,806,477 LIABILITIES Administrative fees and other payables 10,270 ------------- ------------ Net Assets Available for Benefits $11,877,470 $6,796,207 ============= ============ See notes to financial statements. THE MEAD SAVINGS PLAN FOR BARGAINING UNIT EMPLOYEES STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS YEAR ENDED DECEMBER 31, 1994 - ----------------------------------------------------------------- INCREASE IN PLAN ASSETS: Contributions: Employees $ 5,608,969 Rollovers 96,615 Investment income: Interest and dividends 461,789 Net (depreciation) in fair value of investments (895,984) ------------- Total increases 5,271,389 ------------- DECREASES IN PLAN ASSETS: Benefits paid to Participants 168,357 Administrative expenses 21,769 ------------- Total decreases 190,126 ------------- NET INCREASE IN PLAN ASSETS 5,081,263 NET ASSETS - DECEMBER 31, 1993 6,796,207 ------------- NET ASSETS - DECEMBER 31, 1994 $11,877,470 ============= See notes to financial statements. THE MEAD SAVINGS PLAN FOR BARGAINING UNIT EMPLOYEES NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1994 AND 1993 AND YEAR ENDED DECEMBER 31, 1994 - ----------------------------------------------------------------- A. PLAN DESCRIPTION The following description of the Mead Savings Plan For Bargaining Unit Employees (the "Plan") provides only general information. Participants should refer to the Plan agreement for a more complete description of the Plan's provisions. General - The Plan is a defined contribution plan covering union employees of The Mead Corporation who are covered by collective bargaining agreements. It is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). Contributions - Participants may generally authorize a redirection of payroll wages of up to 10% of compensation as a contribution to the Plan each year. Employee contributions are at all times fully vested and nonforfeitable. Investment options - For the period through April 30, 1994, Wachovia Bank was the Plan Trustee. Participants could direct their contributions among the following funds of the Plan: Interest Income Fund Equity Growth Fund Equity Income Fund Under the terms of the Plan, contributions for the above funds were initially deposited in the WB Short Term Investment Fund (STIF) and then transferred to the employee directed investment fund. Effective May 1, 1994, Fidelity Management Trust Company became the Plan Trustee. Participants can direct their contributions among the following funds of the Plan: Magellan Fund Equity Income Fund Intermediate Bond Fund Overseas Fund Asset Manager: Growth Fund Asset Manager Fund Asset Manager: Income Fund Short Term Bond Fund Retirement Money Market Fund U.S. Equity Index Fund Mead Common Stock Fund Prospectuses relating to these funds, except for the Mead Common Stock Fund, are available to the Plan participants from Fidelity Management Trust Company. A prospectus relating to the Mead Common Stock Fund is available to the Plan participants from Mead. Administrative Expenses - Expenses for administering the Plan through April 30, 1994, were paid primarily from funds of the Plan. Effective May 1, 1994, all administrative fees other than loan origination fees are paid directly by Mead. Loans - Beginning January 1, 1994, participants are eligible to obtain a loan from their Plan accounts. Plan Termination - Mead reserves the right to terminate the Plan at any time, subject to Plan provisions and the bargaining agreements. Upon such termination of the Plan, the remaining assets in the Plan, net of expenses properly charged thereto, shall be distributed to participants or their beneficiaries based upon their interests in the Plan at the termination date. B. SIGNIFICANT ACCOUNTING POLICIES General - The financial statements of the Plan are prepared on the accrual basis of accounting. Investment Valuation - The Plan's investments are stated at fair value as measured by readily available market prices. Participant loans are valued at face value. Payment of Benefits - Benefits are recorded when paid. C. TAX STATUS The Plan is a "qualified cash or deferred arrangement" under Sections 401(a) and 401(k) of the Internal Revenue Code and, as such, is exempt from federal income taxes under Section 501(a). All income of the Plan will be distributed to the participants, and no income is taxable to the Plan. Generally, the first 10% of contributed employee compensation and Plan earnings are not taxable until disbursed to the participants. The sponsor has filed an application for a determination letter with the Internal Revenue Service. D. BENEFITS PAYABLE At December 31, 1993, net assets available for benefits includes benefits of $8,269 due to participants who have withdrawn from participation in the Plan. There was no amount due to participants at December 31, 1994. E. CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS BY FUND YEAR ENDED DECEMBER 31, 1994
INTEREST EQUITY EQUITY SHORT TERM INCOME FUND GROWTH FUND INCOME FUND INVESTMENT FUND ------------ ------------ ------------- -------------- INCREASES IN NET ASSETS: Contributions: Employees $ 313,697 $ 893,095 $ 489,276 $ 2,045 Rollovers 24,171 24,171 Investment Income: Interest and dividends 21,310 3,405 22,873 57 Net appreciation (depreciation) in fair value of investments (19,213) (228,505) (107,686) ------------ ------------ ------------- -------------- TOTAL INCREASES 315,794 692,166 428,634 2,102 DECREASES IN NET ASSETS: Benefits paid to Participants 34,247 27,532 15,849 (19) Administrative expenses 4,401 10,034 5,033 327 ------------ ------------ ------------- -------------- TOTAL DECREASES 38,648 37,566 20,882 308 INTERFUND TRANSFERS (1,667,283) (4,153,223) (2,315,199) (1,794) ------------ ------------ ------------- -------------- NET CHANGE IN NET ASSETS (1,390,137) (3,498,623) (1,907,447) NET ASSETS - Beginning of Year 1,390,137 3,498,623 1,907,447 ------------ ------------ ------------- -------------- NET ASSETS - End of Year $ $ $ $ ============ ============ ============= ============== MEAD COMMON MAGELLAN EQUITY INTERMEDIATE STOCK FUND FUND INCOME FUND BOND FUND SUBTOTAL ------------ ------------ ------------- -------------- ------------ INCREASES IN NET ASSETS: Contributions: Employees $ 52,201 $ 1,580,163 $ 670,419 $ 49,695 $ 4,050,591 Rollovers 3,712 18,281 972 2,000 73,307 Investment Income: Interest and dividends 1 160,663 94,164 4,240 306,713 Net appreciation (depreciation) in fair value of investments 15,816 (235,015) (53,335) (3,863) (631,801) ------------ ------------ ------------- -------------- ------------ TOTAL INCREASES 71,730 1,524,092 712,220 52,072 3,798,810 DECREASES IN NET ASSETS: Benefits paid to Participants 20,148 17,508 115,265 Administrative expenses 543 250 20,588 ------------ ------------ ------------- -------------- ------------ TOTAL DECREASES 20,691 17,758 135,853 INTERFUND TRANSFERS 2,901,102 856,409 129,681 (4,063,867) ------------ ------------ ------------- -------------- ------------ NET CHANGE IN NET ASSETS 258,170 4,404,503 1,550,871 181,753 (400,910) NET ASSETS - Beginning of Year 6,796,207 ------------ ------------ ------------- -------------- ------------ NET ASSETS - End of Year $ 258,170 $ 4,404,503 $1,550,871 $ 181,753 $ 6,395,297 ============ ============ ============= ============== ============
E. CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS BY FUND (continued) YEAR ENDED DECEMBER 31, 1994
FIDELITY FIDELITY FIDELITY ASSET FIDELITY ASSET FIDELITY OVERSEAS ASSET MANAGER: MANAGER: SHORT TERM FUND MANAGER FUND GROWTH FUND INCOME FUND BOND FUND ------------ ------------ ------------- -------------- ------------ INCREASES IN NET ASSETS: Contributions: Employees $ 176,764 $ 312,352 $ 512,021 $ 91,466 $ 396,895 Rollovers 8,972 2,336 10,000 Investment Income: Interest and dividends 10,560 24,899 45,881 9,914 50,807 Net appreciation (depreciation) in fair value of investments (36,080) (50,583) (105,935) (11,715) (60,760) ------------ ------------ ------------- -------------- ------------ TOTAL INCREASES 160,216 289,004 461,967 89,665 386,942 DECREASES IN NET ASSETS: Benefits paid to Participants 5,256 12,617 2,475 27,637 Administrative expenses 39 194 310 78 560 ------------ ------------ ------------- -------------- ------------ TOTAL DECREASES 39 5,450 12,927 2,553 28,197 INTERFUND TRANSFERS 484,971 783,631 1,267,855 316,142 668,815 ------------ ------------ ------------- -------------- ------------ NET CHANGE IN NET ASSETS 645,148 1,067,185 1,716,895 403,254 1,027,560 NET ASSETS - Beginning of Year ------------ ------------ ------------- -------------- ------------ NET ASSETS - End of Year $ 645,148 $1,067,185 $ 1,716,895 $ 403,254 $1,027,560 ============ ============ ============= ============== ============ FIDELITY FIDELITY US EQUITY RETIREMENT INDEX LOAN PLAN MONEY MKT FUND POOL FUND ACCOUNT TOTAL -------------- ------------ ------------- -------------- INCREASES IN NET ASSETS: Contributions: Employees $ 49,149 $ 19,731 $ $ 5,608,969 Rollovers 2,000 96,615 Investment Income: Interest and dividend 4,061 8,954 461,789 Net appreciation (depreciation) in fair value of investments 890 (895,984) ------------ ------------ ------------- -------------- TOTAL INCREASES 55,210 20,621 8,954 5,271,389 DECREASES IN NET ASSETS: Benefits paid to Participants 5,107 168,357 Administrative expenses 21,769 ------------ ------------ ------------- -------------- TOTAL DECREASES 5,107 190,126 INTERFUND TRANSFERS 208,819 45,508 288,126 ------------ ------------ ------------- -------------- NET CHANGE IN NET ASSETS 258,922 66,129 297,080 5,081,263 NET ASSETS - Beginning of Year 6,796,207 ------------ ------------ ------------- -------------- NET ASSETS - End of Year $ 258,922 $ 66,129 $ 297,080 $11,877,470 ============ ============ ============= ==============
The Mead Savings Plan for Bargaining Unit Employees Item 27a - Supplemental Schedule of Assets Held for Investment December 31, 1994 Market Description Units Cost Value - ------------------------------ ---------------- ------------- ------------- Mead Common Stock Fund 22,065.770 $ 242,032 $ 258,170 Fidelity Investment Funds: Magellan 65,935.679 4,541,624 4,404,503 Equity Income 50,516.975 1,631,186 1,550,871 Intermediate Bond 18,489.644 185,552 181,753 Overseas 23,631.777 680,612 645,148 Asset Manager 77,164.509 1,117,991 1,067,185 Asset Manager: Growth 133,714.567 1,822,304 1,716,895 Asset Manager: Income 38,699.998 414,918 403,254 Short Term Bond 119,483.766 1,077,237 1,027,560 Retirement Money Market 258,921.940 258,922 258,922 U.S. Equity Index Pool 5,519.929 65,285 66,129 Participant Loans - 136 loans with interest rates from 6.25% to 10.75% 297,080 ------------- ------------- $12,037,663 $11,877,470 ============= ============= The Mead Savings Plan for Bargaining Unit Employees Item 27d - Supplemental Schedule of Reportable Transactions - Series of Transactions Year Ended December 31, 1994
Number of Purchase Number Sale Gain/ Description Purchases Cost of Sales Proceeds (Loss) - -------------------------------------------- -------- -------------- -------- -------------- -------------- Fidelity Magellan Fund 93 6,387,429 52 1,747,910 (97,993) Fidelity Equity Income Fund 75 3,176,337 43 1,571,132 26,980 Fidelity Overseas Fund 56 725,980 24 44,652 (616) Fidelity Asset Manager Fund 54 1,180,446 29 62,678 223 Fidelity Asset Manager: Growth Fund 64 1,904,611 34 81,691 (526) Fidelity Asset Manager: Income Fund 42 425,168 11 10,199 (51) Fidelity Short Term Bond Fund 54 2,094,517 28 1,006,197 (11,083) Fidelity Retirement Money Market Fund 62 303,097 13 44,131 0 Vanguard Equity Income Fd Inc 6 532,428 4 2,198,223 (110,433) Twentieth Century Invts Inc 5 949,429 3 3,932,947 (363,796) WB DTF S-T Investment Fund 70 3,903,623 59 4,446,233 0 Fixed Income Investments: United States Treas Nts (Mat 3/31/94) 2 346,820 (4,067) Fed Farm Credit Bk Disc Nts (Mat 3/02/94) 1 279,183 1 279,183 0 Fed Farm Credit Bk Disc Nts (Mat 3/18/94) 2 424,448 1 424,448 0 Fed Home Ln Bk Disc Nts (Mat 4/28/94) 1 349,533 1 349,533 0 Fed Home Ln Bk Disc Nts (Mat 5/02/94) 1 1,399,586 1 1,399,586 0 Fed Home Ln Mtg Corp Disc Nts (Mat 3/31/94) 1 399,523 1 399,523 0 Fed Home Ln Mtg Corp Disc Nts (Mat 4/29/94) 1 499,138 2 499,138 0 Fed Natl Mtg Assn Disc Nt (Mat 4/29/94) 2 1,049,761 1 1,049,761 0
The Mead Savings Plan for Bargaining Unit Employees Item 27d - Supplemental Schedule of Reportable Transactions - Single Transactions Year Ended December 31, 1994
Description Cost Proceeds Gain/Loss - -------------------------------------------- ------------ ------------ ------------- Vanguard Equity Income Fd Inc 2,287,120 2,177,450 (109,670) Twentieth Century Invts Sel Shr 4,245,389 3,883,040 (362,349) Fixed Income Investments: Fed Farm Cr Bank Dsc Nt (Mat 3/18/94) 424,448 424,448 0 Fed Hm Ln Bk Disc Nts (Mat 4/28/94) 349,533 Fed Hm Ln Bk Disc Nts (Mat 4/28/94) 349,533 349,533 0 Fed Hm Ln Bk Disc Nts (Mat 5/02/94) 1,399,586 Fed Hm Ln Bk Disc Nts (Mat 5/02/94) 1,399,586 1,399,586 0 Fed Hm Ln Mtg Corp Disc Nts (Mat 3/31/94) 399,523 Fed Hm Ln Mtg Corp Disc Nts (Mat 3/31/94) 399,523 399,523 0 Fed Hm Ln Mtg Corp Disc Nts (Mat 4/29/94) 499,138 Fed Hm Ln Mtg Corp Disc Nts (Mat 4/29/94) 399,310 399,310 0 Fed Natl Mtg Assn Disc Nt (Mat 4/29/94) 399,960 Fed Natl Mtg Assn Disc Nt (Mat 4/29/94) 649,801 Fed Natl Mtg Assn Disc Nt (Mat 4/29/94) 1,049,761 1,049,761 0 Short Term Investments: WB DTF S-T Investment Fund 406,781 WB DTF S-T Investment Fund 349,533 WB DTF S-T Investment Fund 499,213 499,213 0 WB DTF S-T Investment Fund 482,122 482,122 0 WB DTF S-T Investment Fund 368,879 368,879 0 WB DTF S-T Investment Fund 422,242 422,242 0 WB DTF S-T Investment Fund 379,124 379,124 0 WB DTF S-T Investment Fund 458,198 458,198 0 WB DTF S-T Investment Fund 349,533 349,533 0
INDEPENDENT AUDITORS' CONSENT We consent to the incorporation by reference in the Registration Statement No. 33-53421 on Form S-8 of our report dated April 25, 1995, accompanying the financial statements of The Mead Savings Plan for Bargaining Unit Employees included in the Form 10-K/A Amendment No. 2 to the Annual Report on Form 10-K of The Mead Corporation for the year ended December 31, 1994. DELOITTE & TOUCHE LLP Dayton, Ohio May 24, 1995 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant and the administrators of the Plan have duly caused this amendment to the Annual Report on Form 10-K to be signed by the undersigned, thereunto duly authorized. THE MEAD CORPORATION (Registrant) Date: May 31, 1995 By: GREGORY T. GESWEIN ---------------------------------- Gregory T. Geswein Controller and Chief Accounting Officer THE MEAD SAVINGS PLAN FOR BARGAINING UNIT EMPLOYEES Date: May 31, 1995 By: JAMES D. BELL ------------------------------- James D. Bell Director of Benefits -----END PRIVACY-ENHANCED MESSAGE-----