OTHER NEWS - Sept. 14, 1996

Directors’ Compensation Growth Mixed: The value of long-term stock grants to directors almost doubled between 1994 and 1996--from an average of $10,221 to $19,523, according to an annual study of directors’ compensation at 220 top U.S. corporations. During the same time, the value of a typical director’s annual retainer and meeting fees climbed just 3.4%, based on information compiled by Executive Compensation Reports. Chase Manhattan Corp. ranked No. 1 in average direct compensation, paying a typical board member $106,188 in retainers and fees last year. Average direct compensation consists of annual retainers and attendance fees for all board meetings and two standard committees (audit and compensation).