TABLE B-12

                                               COLLECTIVE INVESTMENT FUNDS
                                          15 LARGEST FOREIGN FIXED INCOME FUNDS
                                                      BY ASSET SIZE
                                                    DECEMBER 31, 1997
                                                                                                 FUND          TOTAL ASSETS   TOTAL
SEQ  NAME OF INSTITUTION                       FUND NAME                                     CLASSIFICATION    (THOUS. OF $) ACCOUNT

  1  Morgan Guaranty Trust Company of New  COMMINGLED FUND - MTGE. - PVT. PLCMNTS.        02 EMPLOYEE BENEFIT     7,327,182      234
     NEW YORK CITY, NY
  2  Morgan Guaranty Trust Company of New  COMMINGLED FUND - EMERGING MKTS. FIXED INC.    02 EMPLOYEE BENEFIT       515,704       21
     NEW YORK CITY, NY
  3  Putnam Fiduciary Trust Company        PUTNAM WORLD INCOME TRUST                      02 EMPLOYEE BENEFIT       221,804       17
     BOSTON, MA
  4  Barclays Global Investors, National   NON US WORLD GOVT BD FD                        02 EMPLOYEE BENEFIT       161,314       10
     SAN FRANCISCO, CA
  5  Putnam Fiduciary Trust Company        PUTNAM INTERNATIONAL OPPORTUNITIES INCOME T    02 EMPLOYEE BENEFIT       131,608       11
     BOSTON, MA
  6  Putnam Fiduciary Trust Company        PUTNAM INTERNATIONAL FIXED INCOME TRUST        02 EMPLOYEE BENEFIT       130,025       15
     BOSTON, MA
  7  Barclays Global Investors, National   WORLD GOVT BOND FD JAPAN                       02 EMPLOYEE BENEFIT        45,219        1
     SAN FRANCISCO, CA
  8  Putnam Fiduciary Trust Company        PUTNAM GLOBAL EMERGING MARKETS FIXED INCOME    02 EMPLOYEE BENEFIT        39,072        4
     BOSTON, MA
  9  Wellington Trust Company, National A  INTERNATIONAL BOND PORTFOLIO                   02 EMPLOYEE BENEFIT        37,241        5
     BOSTON, MA
 10  Fiduciary Trust Company Internationa  GLOBAL BOND H                                  02 EMPLOYEE BENEFIT        35,787        6
     NEW YORK CITY, NY
 11  Mellon Bank, National Association     EB CCF MELLON GLOBAL BOND FUND                 02 EMPLOYEE BENEFIT        34,792        8
     PITTSBURGH, PA
 12  Barclays Global Investors, National   NON US WORLD GOVT BD FD B                      01 PERSONAL TRUST          27,284        4
     SAN FRANCISCO, CA
 13  Barclays Global Investors, National   WORLD GOVT BOND FD GERMANY                     02 EMPLOYEE BENEFIT        24,965        1
     SAN FRANCISCO, CA
 14  Barclays Global Investors, National   WORLD GOVT BOND FD FRANCE                      02 EMPLOYEE BENEFIT        19,137        1
     SAN FRANCISCO, CA
 15  Barclays Global Investors, National   WORLD GOVT BOND FD UK                          02 EMPLOYEE BENEFIT        17,143        1
     SAN FRANCISCO, CA