NNNN

6817132LX INS

ZCZC LE0013 LEI013 06/19/86 16:21 06/19/86 16:50

JANHNY6720134UW

JANHNY6720134UW

JUNE 19, 1986

ATTN: TOM CIARDELLO

RE: IBM YRS 6/19/86

PLS BIND DLRS 10MIL X DLRS 80MIL PER TERMS AS OUTLINED FOR PERIOD 5/21/86 TO 5/12/87. WILL BILL CLIENT PREMIUM OF DLRS 85,000 IMMEDIATELY.

REGARDS,

R. MLCHEL-JANDH-NYK

JANHNY6720134UW

NNNN

6817132LX INS

THEY DISCONNECT

Elapsed time 00:02:27

PRINTED AT 1648 EST 06/19/86