-                                                      TABLE B-12                                                                    
                                                                                                                                     
                                                COLLECTIVE INVESTMENT FUNDS                                                          
                                           15 LARGEST FOREIGN FIXED INCOME FUNDS                                                     
                                                       BY ASSET SIZE                                                                 
                                                     DECEMBER 31, 1996                                                               
0                                                                                                 FUND          TOTAL ASSETS   TOTAL 
 SEQ  NAME OF INSTITUTION                       FUND NAME                                     CLASSIFICATION    (THOUS. OF $) ACCOUNT
                                                                                                                                     
0  1  Morgan Guaranty Trust Company of New  COMMINGLED FUND - EMERGING MKTS. FIXED INC.    02 EMPLOYEE BENEFIT       258,606       14
      NEW YORK CITY, NY                                                                                                              
0  2  Putnam Fiduciary Trust Company        PUTNAM WORLD INCOME TRUST                      02 EMPLOYEE BENEFIT       224,220       18
      BOSTON, MA                                                                                                                     
0  3  Barclays Global Investors, National   NON-US WORLD GOVT BOND INDEX FD                02 EMPLOYEE BENEFIT       199,052        8
      SAN FRANCISCO, CA                                                                                                              
0  4  Putnam Fiduciary Trust Company        PUTNAM INTERNATIONAL FIXED INCOME TRUST        02 EMPLOYEE BENEFIT       120,570       14
      BOSTON, MA                                                                                                                     
0  5  Putnam Fiduciary Trust Company        PUTNAM INTERNATIONAL OPPORTUNITIES INCOME T    02 EMPLOYEE BENEFIT       111,905        9
      BOSTON, MA                                                                                                                     
0  6  Barclays Global Investors, National   WORLD GOVT BD INDEX FD-JAPAN                   02 EMPLOYEE BENEFIT        56,205        1
      SAN FRANCISCO, CA                                                                                                              
0  7  Fiduciary Trust Company Internationa  GLOBAL BOND H                                  02 EMPLOYEE BENEFIT        46,124        5
      NEW YORK CITY, NY                                                                                                              
0  8  Barclays Global Investors, National   WORLD GOVT BD INDEX FD-GERMANY                 02 EMPLOYEE BENEFIT        33,852        1
      SAN FRANCISCO, CA                                                                                                              
0  9  Barclays Global Investors, National   NON-US WORLD GOVT BD FD B                      01 PERSONAL TRUST          31,504        5
      SAN FRANCISCO, CA                                                                                                              
0 10  Putnam Fiduciary Trust Company        PUTNAM GLOBAL EMERGING MARKETS FIXED INCOME    02 EMPLOYEE BENEFIT        28,481        4
      BOSTON, MA                                                                                                                     
0 11  Barclays Global Investors, National   WORLD GOVT BD INDEX FD-FRANCE                  02 EMPLOYEE BENEFIT        23,537        1
      SAN FRANCISCO, CA                                                                                                              
0 12  Barclays Global Investors, National   WORLD GOVT BD INDEX FD-ITALY                   02 EMPLOYEE BENEFIT        19,428        1
      SAN FRANCISCO, CA                                                                                                              
0 13  Barclays Global Investors, National   WORLD GOVT BD INDEX FD-UK                      02 EMPLOYEE BENEFIT        17,818        1
      SAN FRANCISCO, CA                                                                                                              
0 14  The Northern Trust Company            INTERNATIONAL GOVERNMENT BOND                  01 PERSONAL TRUST          15,078      406
      CHICAGO, IL                                                                                                                    
0 15  Mellon Bank, National Association     EB CCF MELLON GLOBAL BOND FUND 010-888         02 EMPLOYEE BENEFIT        14,603        5
      PITTSBURGH, PA                                                                                                                 
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