Mitchell and Company - Management Consultants "Chief Executive Magazine's CE 100 Index"

Charting the CEO 100 Index
Top Stock-Market Performers: 1989 - 1991
Percentage Increase In Share Price Between December 29, 1988 and December 31, 1991

This
Year's   Company                          CEO                     Percent
Rank                                                              Change

1        Home Depot                       Bernard Marcus           619.08
2        Microsoft                        William H. Gates III     526.76
3        Nike                             Philip H. Knight         446.26
4        Gap                              Donald G. Fisher         412.57
5        Great Lakes Chemical             Emerson Kampen           292.65
6        Wal-Mart                         David D. Glass           275.27
7        Costco                           James D. Sinegal         265.24
8        Coca-Cola                        Roberto C. Goizueta      259.62
9        UST                              Louis F. Bantle          219.51
10       UNUM                             James F. Orr III         200.00

11       Dillard                          William T. Dillard Sr.   191.41
12       Dover                            Gary L. Roubos           189.33
13       Merck                            P. Roy Vagelos           188.31
14       Banc One                         John B. McCoy            186.19
15       Golden West Financial            Herbert M. Sandler       178.08
16       Sara Lee                         John H. Bryan Jr.        175.62
17       ConAgra                          Charles M. Harper        175.40
18       Reebok International             Paul B. Fireman          170.45
19       Viacom                           Frank J. Biondi Jr.      169.90
20       Bausch & Lomb                    Daniel E. Gill           167.40

21       Chubb                            Dean R. O'Hare           165.52
22       H&R Block                        Henry W. Bloch           164.27
23       PepsiCo                          D. Wayne Calloway        157.25
24       Walgreen                         Charles R. Walgreen III  151.16
25       Consolidated Rail                James A. Hagen           150.37
26       Automatic Data Processing        Josh S. Weston           147.55
27       Chiquita Brands Intl.            Carl H. Lindner          144.20
28       Archer Daniels Midland           Dwayne O. Andreas        138.00
29       Fund American                    John J. Byrne            137.85
30       Nalco Chemical                   Worley H. Clark Jr.      136.20

31       Avon Products                    James E. Preston         135.90
32       Schering-Plough                  Robert P. Luciano        131.68
33       Hillenbrand Industries           W. August Hillenbrand    130.17
34       Baxter International             Vernon R. Loucks Jr.     126.89
35       Keycorp                          Victor J. Riley Jr.      123.84
36       William Wrigley Jr.              William Wrigley          123.50
37       Mapco                            James E. Barnes          123.32
38       Corning                          James R. Houghton        121.25
39       Honeywell                        James J. Renier          117.97
40       Temple-Inland                    Clifford J. Grum         116.30

41       Wilmington Trust                 Bernard J. Taylor II     112.84
42       Cooper Industries                Robert Cizik             112.04
43       The Limited                      Leslie H. Wexner         111.01
44       Sherwin-Williams                 John G. Breen            110.80
45       Colgate-Palmolive                Reuben Mark              108.00
46       Intl. Flavors & Fragrances       Eugene P. Grisanti       107.84
47       The Vons Companies               Roger E. Stangeland      106.52
48       Universal                        Henry H. Harrell         106.06
49       Waste Management                 Dean L. Buntrock         103.62
50       American Home Products           John R. Stafford         103.29

51       W.W. Grainger                    David W. Grainger        101.37
52       Roadway Services                 Joseph M. Clapp          100.81
53       Toys "R" Us                      Charles Lazarus           98.48
54       Dreyfus                          Howard Stein              97.00
55       Intel                            Andrew S. Grove           96.84
56       Anheuser-Busch                   August A. Busch III       95.24
57       Union Texas Petrol               A. Clark Johnson          95.09
58       Bristol-Myers Squibb             Richard L. Gelb           95.03
59       Marshall & Ilsley                John A. Puelicher         94.69
60       George A. Hormel                 Richard L. Knowlton       94.36

61       Capital Holding                  Irving W. Bailey II       94.29
62       Long Island Lighting             William J. Catacosinos    93.18
63       Sun Microsystems                 Scott G. McNealy          90.92
64       First Empire State               Robert G. Wilmers         90.91
65       Torchmark                        Ronald K. Richey          89.77
66       Norfolk Southern                 Arnold B. McKinnon        89.23
67       Berkshire Hathaway               Warren E. Buffett         88.54
68       Engelhard                        Orin R. Smith             88.41
69       Jefferson-Pilot                  W. Roger Soles            88.33
70       Nucor                            F. Kenneth Iverson        87.18

71       Spiegel                          John J. Shea              86.20
72       Pacific Gas & Electric           Richard A. Clarke         85.71
73       Nipsco Industries                Edmund A. Schroer         85.52
74       Seagate Technology               Alan F. Shugart           85.40
75       Entergy                          Edwin Lupberger           85.19
76       Wachovia                         John G. Medlin Jr.        84.15
77       Bandag                           Martin G. Carver          84.06
78       General Re                       Ronald E. Ferguson        83.57
79       Illinois Tool Works              John D. Nichols           83.45
80       South Trust                      Wallace D. Malone Jr.     81.77

81       American International Group     Maurice R. Greenberg      81.51
82       Emerson Electric                 Charles F. Knight         81.04
83       NBD Bancorp                      Charles T. Fisher III     78.95
84       Boeing                           Frank A. Shrontz          77.20
85       Food Lion                        Tom E. Smith              75.00
86       EG&G                             John M. Kucharski         74.24
87       Walt Disney                      Michael D. Eisner         74.14
88       General Electric                 John F. Welch Jr.         70.95
89       Hershey Foods                    Richard A. Zimmerman      70.69
90       Winn-Dixie                       A. Dano Davis             70.45

91       Carnival Cruise Lines            Micky Arison              69.35
92       H.J. Heinz                       Anthony J.F. O'Reilly     66.31
93       Monsanto                         Richard J. Mahoney        66.07
94       Republic New York                Walter H. Weiner          64.01
95       Lowe's                           Leonard G. Herring        62.52
96       Alltel                           Joe T. Ford               61.38
97       Union Pacific                    Andrew L. Lewis Jr.       61.06
98       Ingersoll-Rand                   Theodore H. Black         60.58
99       Geico                            William B. Snyder         60.48
100      Union Electric                   William E. Cornelius      60.09
Average % Increase of 100 Companies: 132.34
S&P Composite Index: 50.18