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<TITLE>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</TITLE>
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<DIR>

<FONT FACE="Courier" SIZE=2><P ALIGN="CENTER"><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION<BR>
</FONT><FONT FACE="Trebuchet MS" SIZE=2>Washington, D.C.  20549<BR>
</P></DIR>

</B></FONT><P><FONT FACE="Trebuchet MS" SIZE=1>Check this box if no longer</FONT><FONT FACE="Trebuchet MS" SIZE=1>&#9;&#9;&#9;</FONT><B><FONT FACE="Trebuchet MS">STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP</B></FONT><FONT FACE="Trebuchet MS" SIZE=1><BR>
</FONT><FONT FACE="Trebuchet MS" SIZE=1>subject to Section 16.Form 4<BR>
or Form 5 obligations may continue. </FONT><FONT FACE="Trebuchet MS" SIZE=1>Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section
17(a) of the Public Utility<BR>
</FONT><I><FONT FACE="Trebuchet MS" SIZE=1>See </I> Instruction 1(b).</FONT><FONT FACE="Trebuchet MS" SIZE=1>
Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of
1940</P></FONT>
<TABLE BORDER="1" CELLSPACING=1 BORDERCOLOR="#000000" CELLPADDING=6 WIDTH=933 height="735">
<TR><TD WIDTH="32%" VALIGN="TOP" COLSPAN=3 height="67">
<FONT FACE="Trebuchet MS" SIZE=1><P><BR>
1. Name and address of Reporting Person*</P>
<P>&nbsp;</P>
</FONT></TD>
<TD WIDTH="40%" VALIGN="TOP" COLSPAN=7 height="67"><DIR>

<FONT FACE="Trebuchet MS" SIZE=1><P ALIGN="CENTER">2.  Issuer Name <B>and</B> Ticker or Trading Symbol<BR>
WESTVACO CORPORATION<BR>
</FONT><font size="2">
W</font></P>
</DIR>
  </TD>
<TD WIDTH="29%" VALIGN="TOP" COLSPAN=4 height="67">
<FONT FACE="Trebuchet MS" SIZE=1><P>6.Relationship of Reporting Person(s) to Issuer<BR>
  (Check all applicable)</FONT></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP" COLSPAN=3 height="48">&nbsp;</TD>
<TD WIDTH="40%" VALIGN="TOP" COLSPAN=7 height="48">&nbsp;</TD>
<TD WIDTH="16%" VALIGN="TOP" COLSPAN=2 height="48">
<FONT FACE="Trebuchet MS" SIZE=1><P>__<u>X</u>_Director<BR>
<u>
&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; </u>Officer(give title             below)</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP" COLSPAN=2 height="48">
<FONT FACE="Trebuchet MS" SIZE=1><P>     &nbsp;&nbsp; 10% Owner<BR>
<U>     </U>Other (specify<BR>
        below)</FONT></TD>
</TR>
<TR><TD WIDTH="16%" VALIGN="TOP" height="66">
<P ALIGN="CENTER"><font size="2">
<FONT FACE="Trebuchet MS">(Last)<BR>
</FONT>Kelson</font></TD>
<TD WIDTH="10%" VALIGN="TOP" height="66">
<P ALIGN="CENTER"><font size="2">
<FONT FACE="Trebuchet MS">(First)<BR>
</FONT>Richard</font></TD>
<TD WIDTH="7%" VALIGN="TOP" height="66">
<P ALIGN="CENTER"><font size="2">
<FONT FACE="Trebuchet MS">(Middle)<BR>
</FONT>B.</font></TD>
<TD WIDTH="22%" VALIGN="TOP" COLSPAN=3 height="66">
<FONT FACE="Trebuchet MS" SIZE=1><P ALIGN="CENTER">3.  IRS or Social Security Number of Reporting Person (Voluntary)<BR>
</FONT><font size="2">###-##-####</font></TD>
<TD WIDTH="18%" VALIGN="TOP" COLSPAN=4 height="66">
<FONT FACE="Trebuchet MS" SIZE=1><P>4.  Statement for<BR>
     Month/Year</FONT><P><font size="2">October 2001</font></TD>
<TD WIDTH="16%" VALIGN="TOP" COLSPAN=2 height="66">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP" COLSPAN=2 height="66">&nbsp;</TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP" COLSPAN=3 HEIGHT=88>
<FONT FACE="Trebuchet MS" SIZE=1><P ALIGN="CENTER">(Street)</P>
</FONT>
<P ALIGN="CENTER"><font size="2">299 Park Avenue</font></P>
<P ALIGN="CENTER">&nbsp;</TD>
<TD WIDTH="22%" VALIGN="TOP" COLSPAN=3 HEIGHT=88><P></P></TD>
<TD WIDTH="18%" VALIGN="TOP" COLSPAN=4 HEIGHT=88>
<FONT FACE="Trebuchet MS" SIZE=1><P>5.If Amendment,<BR>
Date of Original<BR>
 (Month/Year)</FONT></TD>
<TD WIDTH="29%" VALIGN="TOP" COLSPAN=4 HEIGHT=88>
<FONT FACE="Trebuchet MS" SIZE=1><P>7.  Individual or Joint/Group Filing </FONT><FONT FACE="Trebuchet MS" SIZE=1>(Check Applicable)</P>
</FONT><U><FONT FACE="Trebuchet MS" SIZE=1><P>X  </U>  </FONT><FONT FACE="Trebuchet MS" SIZE=1>Form filed by One Reporting Person<BR>
       Form Filed by More than One Reporting Person</FONT></TD>
</TR>
<TR><TD WIDTH="16%" VALIGN="TOP" height="31">
<FONT FACE="Trebuchet MS" SIZE=1><P ALIGN="CENTER">(City)<BR>
</FONT><font size="2">New York,</font></TD>
<TD WIDTH="10%" VALIGN="TOP" height="31">
<FONT FACE="Trebuchet MS" SIZE=1><P ALIGN="CENTER">(State)<BR>
</FONT><font size="2">Ny</font></TD>
<TD WIDTH="7%" VALIGN="TOP" height="31">
<FONT FACE="Trebuchet MS" SIZE=1><P ALIGN="CENTER">(Zip)<BR>
</FONT><font size="2">10171</font></TD>
<TD WIDTH="68%" VALIGN="TOP" COLSPAN=11 height="31">
<FONT FACE="Trebuchet MS"><P>&#9;</FONT><B><FONT FACE="Trebuchet MS" SIZE=2>Table I --- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned</B></FONT></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP" COLSPAN=3 height="115"><DIR>

<FONT FACE="Trebuchet MS" SIZE=1><P>1. Title Security<BR>
(Instr. 3)</DIR>
</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP" height="115">
<FONT FACE="Trebuchet MS" SIZE=1><P>2. Trans-action Date  (Month/<BR>
    Day/<BR>
    Year)</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP" COLSPAN=2 height="115"><DIR>

<FONT FACE="Trebuchet MS" SIZE=1><P>3. Trans-<BR>
action Code (Instr. 8)</DIR>
</FONT></TD>
<TD WIDTH="17%" VALIGN="TOP" COLSPAN=3 height="115">
<FONT FACE="Trebuchet MS" SIZE=1><P>4. Securities Acquired (A)<BR>
or Disposed of (D) (Instr. 3, 4 and 5)</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" COLSPAN=2 height="115">
<FONT FACE="Trebuchet MS" SIZE=1><P>5.&#9;Amount of Securities Beneficially Owned at End of Month<BR>
&#9;(Instr. 3 and 4)</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP" COLSPAN=2 height="115">
<FONT FACE="Trebuchet MS" SIZE=1><P>6.&#9;Owner-<BR>
ship Form: Direct (D) or Indirect<BR>
(I)  (Instr. 4)</FONT></TD>
<TD WIDTH="9%" VALIGN="TOP" height="115">
<FONT FACE="Trebuchet MS" SIZE=1><P>7. Nature of Indirect  Beneficial <BR>
Ownership<BR>
 (Instr. 4)</FONT></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP" COLSPAN=3 height="48">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP" height="48">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP" height="48">
<FONT FACE="Trebuchet MS" SIZE=1><P>Code</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" height="48">
<FONT FACE="Trebuchet MS" SIZE=1><P>&#9;V</FONT></TD>
<TD WIDTH="7%" VALIGN="TOP" height="48">
<FONT FACE="Trebuchet MS" SIZE=1><P>&#9;Amount</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" height="48">
<FONT FACE="Trebuchet MS" SIZE=1><P>(A) or (D)</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" height="48">
<FONT FACE="Trebuchet MS" SIZE=1><P>&#9;Price</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" COLSPAN=2 height="48">&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP" COLSPAN=2 height="48">&nbsp;</TD>
<TD WIDTH="9%" VALIGN="TOP" height="48">&nbsp;</TD>
</TR>
<TR><TD WIDTH="16%" VALIGN="TOP" height="19">
<FONT SIZE=2><P>Common Stock (a)</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP" height="19">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP" height="19">&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP" height="19"><font size="2">8/6/01</font></TD>
<TD WIDTH="7%" VALIGN="TOP" height="19"><font size="2">P</font></TD>
<TD WIDTH="3%" VALIGN="TOP" height="19">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP" height="19"><font size="2">92.6269</font></TD>
<TD WIDTH="5%" VALIGN="TOP" height="19"><font size="2">A</font></TD>
<TD WIDTH="6%" VALIGN="TOP" height="19"><font size="2">$26.99</font></TD>
<TD WIDTH="11%" VALIGN="TOP" COLSPAN=2 height="19"></TD>
<TD WIDTH="10%" VALIGN="TOP" COLSPAN=2 height="19"></TD>
<TD WIDTH="9%" VALIGN="TOP" height="19"></TD>
</TR>
<TR><TD WIDTH="16%" VALIGN="TOP" height="19">
<FONT SIZE=2><P>Common Stock (a)</FONT></TD>
<TD WIDTH="10%" VALIGN="TOP" height="19"></TD>
<TD WIDTH="7%" VALIGN="TOP" height="19"></TD>
<TD WIDTH="12%" VALIGN="TOP" height="19"><font size="2">10/1/01</font></TD>
<TD WIDTH="7%" VALIGN="TOP" height="19"><font size="2">P</font></TD>
<TD WIDTH="3%" VALIGN="TOP" height="19"></TD>
<TD WIDTH="7%" VALIGN="TOP" height="19"><font size="2">99.5675</font></TD>
<TD WIDTH="5%" VALIGN="TOP" height="19"><font size="2">A</font></TD>
<TD WIDTH="6%" VALIGN="TOP" height="19"><font size="2">25.1086</font></TD>
<TD WIDTH="11%" VALIGN="TOP" COLSPAN=2 height="19"><font size="2">293.8663*</font></TD>
<TD WIDTH="10%" VALIGN="TOP" COLSPAN=2 height="19"><font size="2">D</font></TD>
<TD WIDTH="9%" VALIGN="TOP" height="19"></TD>
</TR>
</TABLE>

<FONT SIZE=1><P>*Terminates contribution to Investor's Services Plan upon
election to participate in Deferred Compensation Plan for Non-Employee
Directors.<BR>
</P>

</FONT><FONT FACE="Trebuchet MS" SIZE=1><P>&nbsp;</P></FONT>
<TABLE BORDER="1" CELLSPACING=1 BORDERCOLOR="#000000" CELLPADDING=7 WIDTH=936 height="581">
<TR><TD WIDTH="59" VALIGN="TOP" height="112">
<FONT SIZE=1><P>1.  Title of Derivative Security<BR>
     (Instr. 3)<BR>
</FONT></TD>
<TD WIDTH="53" VALIGN="TOP" height="112">
<FONT SIZE=1><P>2. Conver-<BR>
    sion or<BR>
    Exercise<BR>
    Price of<BR>
   Derivative<BR>
   Security</FONT></TD>
<TD WIDTH="48" VALIGN="TOP" height="112">
<FONT SIZE=1><P>3.Trans-<BR>
   action<BR>
   Date<BR>
 (Month/<BR>
Day/Year)</P>
</FONT></TD>
<TD WIDTH="51" VALIGN="TOP" COLSPAN=2 height="112">
<FONT SIZE=1><P>4. Trans-<BR>
    action<BR>
    Code<BR>
 (Instr. 8)</FONT></TD>
<TD WIDTH="67" VALIGN="TOP" COLSPAN=2 height="112">
<FONT SIZE=1><P>5. Number of<BR>
    Derivative <BR>
    Securities<BR>
    Acquired (A)<BR>
    or Disposed<BR>
    of (D) <BR>
    (Instr. 3, 4,<BR>
     and 5)</FONT></TD>
<TD WIDTH="120" VALIGN="TOP" COLSPAN=2 height="112">
<FONT SIZE=1><P>6.  Date Exercisable        and  Expiration Date<BR>
    (Month/Day/<BR>
      Year)</FONT></TD>
<TD WIDTH="103" VALIGN="TOP" COLSPAN=2 height="112">
<FONT SIZE=1><P>7.  Title and Amount of<BR>
      Underlying Securities      (Instr.  3 and 4)</FONT></TD>
<TD WIDTH="51" VALIGN="TOP" height="112">
<FONT SIZE=1><P>8. Price of <BR>
Derivative Security (Instr. 5)</FONT></TD>
<TD WIDTH="66" VALIGN="TOP" height="112">
<FONT SIZE=1><P>9. Number<BR>
of  Derivative Securities Beneficially<BR>
Owned at End of    <BR>
Month<BR>
(Instr. 4)</FONT></TD>
<TD WIDTH="64" VALIGN="TOP" height="112">
<FONT SIZE=1><P>10.Ownership<BR>
 Form of    Derivative<BR>
Security:<BR>
Direct  (D) or Indirect (I)<BR>
 (Instr. 4)</FONT></TD>
<TD WIDTH="52" VALIGN="TOP" height="112">
<FONT SIZE=1><P>11. Nature  of<BR>
 Indirect<BR>
Beneficial<BR>
Ownership (Instr. 4)</FONT></TD>
</TR>
<TR><TD WIDTH="59" VALIGN="TOP" height="70"></TD>
<TD WIDTH="53" VALIGN="TOP" height="70">&nbsp;</TD>
<TD WIDTH="48" VALIGN="TOP" height="70">&nbsp;</TD>
<TD WIDTH="25" VALIGN="TOP" height="70">
<FONT SIZE=1><P><BR>
Code</FONT></TD>
<TD WIDTH="8" VALIGN="TOP" height="70">
<FONT SIZE=1><P><BR>
V</FONT></TD>
<TD WIDTH="22" VALIGN="TOP" height="70">
<FONT SIZE=1><P>&#9;<BR>
&#9;(A)</FONT></TD>
<TD WIDTH="27" VALIGN="TOP" height="70">
<FONT SIZE=1><P><BR>
&#9;(D)</FONT></TD>
<TD WIDTH="52" VALIGN="TOP" height="70">
<FONT SIZE=1><P>Date<BR>
Exercisable</FONT></TD>
<TD WIDTH="50" VALIGN="TOP" height="70">
<FONT SIZE=1><P>Expiration<BR>
Date</FONT></TD>
<TD WIDTH="47" VALIGN="TOP" height="70">
<FONT SIZE=1><P>Title</FONT></TD>
<TD WIDTH="38" VALIGN="TOP" height="70">
<FONT SIZE=1><P>Amount or<BR>
Number of Shares</FONT></TD>
<TD WIDTH="51" VALIGN="TOP" height="70">&nbsp;</TD>
<TD WIDTH="66" VALIGN="TOP" height="70">&nbsp;</TD>
<TD WIDTH="64" VALIGN="TOP" height="70">&nbsp;</TD>
<TD WIDTH="52" VALIGN="TOP" height="70">&nbsp;</TD>
</TR>
<TR><TD WIDTH="59" VALIGN="TOP" height="68"></TD>
<TD WIDTH="53" VALIGN="TOP" height="68">
  </TD>
<TD WIDTH="48" VALIGN="TOP" height="68">
  </TD>
<TD WIDTH="25" VALIGN="TOP" height="68"></TD>
<TD WIDTH="8" VALIGN="TOP" height="68"></TD>
<TD WIDTH="22" VALIGN="TOP" height="68"></TD>
<TD WIDTH="27" VALIGN="TOP" height="68"></TD>
<TD WIDTH="52" VALIGN="TOP" height="68"></TD>
<TD WIDTH="50" VALIGN="TOP" height="68"></TD>
<TD WIDTH="47" VALIGN="TOP" height="68">
  </TD>
<TD WIDTH="38" VALIGN="TOP" height="68"></TD>
<TD WIDTH="51" VALIGN="TOP" height="68"></TD>
<TD WIDTH="66" VALIGN="TOP" height="68"></TD>
<TD WIDTH="64" VALIGN="TOP" height="68"></TD>
<TD WIDTH="52" VALIGN="TOP" height="68"></TD>
</TR>
</TABLE>

<FONT FACE="Courier" SIZE=2></FONT>
<TABLE BORDER CELLSPACING=1 CELLPADDING=7 WIDTH=781>
<TR><TD WIDTH="59%" VALIGN="TOP">
<FONT FACE="Trebuchet MS" SIZE=1><P>Explanation of Responses:</FONT></TD>
<TD WIDTH="26%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<P><font size="2">(a) Rights (the &quot;Rights&quot;) are attached to shares of
Common Stock. One Right entitles the registered owner to purchase from Westvaco
a unit consisting of one one-hundredth of a share of Series A Junior
Participating Preferred Stock, without par value. The Rights will detach and be
exercisable and transferable apart from the Common Stock ten days after a person
(1) acquires beneficial ownership of 15% or more of the outstanding shares of
Common Stock or (2) commences a tender or exchange offer which, upon its
consummation, would result in such person beneficially owning 15% or more of the
outstanding shares of Common Stock. Unless either of these events occurs, the
Rights are deemed represented by the Common Stock certificates and no separate
trading market exists for the Rights. The Board of Directors may lower the
above-mentioned thresholds to not less than 10%.<br>
</font></TD>
<TD WIDTH="26%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<FONT SIZE=1><P>**Intentional misstatements or omissions of facts constitute Federal Criminal Violations.</FONT></TD>
<TD WIDTH="26%" VALIGN="TOP">/s/ John W. Hetherington</TD>
<TD WIDTH="15%" VALIGN="TOP">10/17/01</TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<I><FONT SIZE=1><P>See</I> 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).</FONT></TD>
<TD WIDTH="26%" VALIGN="TOP">
<FONT SIZE=1><P>**Signature of Reporting Person<P>Attorney-in-fact</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=1><P>Date</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=1><P><BR>
</P></FONT></BODY>
</HTML>
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
Check this box if no longer
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
subject to Section 16.Form 4
or Form 5 obligations may continue.
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section
17(a) of the Public Utility
See
Instruction 1(b).
Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of
1940
1. Name and address of Reporting Person*
2.  Issuer Name
and
Ticker or Trading Symbol
WESTVACO CORPORATION
W
6.Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__
X
_Director
Officer(give title             below)
10% Owner
Other (specify
below)
(Last)
Kelson
(First)
Richard
(Middle)
B.
3.  IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4.  Statement for
Month/Year
October 2001
(Street)
299 Park Avenue
5.If Amendment,
Date of Original
(Month/Year)
7.  Individual or Joint/Group Filing
(Check Applicable)
X
Form filed by One Reporting Person
Form Filed by More than One Reporting Person
(City)
New York,
(State)
Ny
(Zip)
10171
Table I --- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title Security
(Instr. 3)
2. Trans-action Date  (Month/
Day/
Year)
3. Trans-
action Code (Instr. 8)
4. Securities Acquired (A)
or Disposed of (D) (Instr. 3, 4 and 5)
5.	Amount of Securities Beneficially Owned at End of Month
(Instr. 3 and 4)
6.	Owner-
ship Form: Direct (D) or Indirect
(I)  (Instr. 4)
7. Nature of Indirect  Beneficial
Ownership
(Instr. 4)
Code
V
Amount
(A) or (D)
Price
Common Stock (a)
8/6/01
P
92.6269
A
$26.99
Common Stock (a)
10/1/01
P
99.5675
A
25.1086
293.8663*
D
*Terminates contribution to Investor's Services Plan upon
election to participate in Deferred Compensation Plan for Non-Employee
Directors.
1.  Title of Derivative Security
(Instr. 3)
2. Conver-
sion or
Exercise
Price of
Derivative
Security
3.Trans-
action
Date
(Month/
Day/Year)
4. Trans-
action
Code
(Instr. 8)
5. Number of
Derivative
Securities
Acquired (A)
or Disposed
of (D)
(Instr. 3, 4,
and 5)
6.  Date Exercisable        and  Expiration Date
(Month/Day/
Year)
7.  Title and Amount of
Underlying Securities      (Instr.  3 and 4)
8. Price of
Derivative Security (Instr. 5)
9. Number
of  Derivative Securities Beneficially
Owned at End of
Month
(Instr. 4)
10.Ownership
Form of    Derivative
Security:
Direct  (D) or Indirect (I)
(Instr. 4)
11. Nature  of
Indirect
Beneficial
Ownership (Instr. 4)
Code
V
(A)
(D)
Date
Exercisable
Expiration
Date
Title
Amount or
Number of Shares
Explanation of Responses:
(a) Rights (the "Rights") are attached to shares of
Common Stock. One Right entitles the registered owner to purchase from Westvaco
a unit consisting of one one-hundredth of a share of Series A Junior
Participating Preferred Stock, without par value. The Rights will detach and be
exercisable and transferable apart from the Common Stock ten days after a person
(1) acquires beneficial ownership of 15% or more of the outstanding shares of
Common Stock or (2) commences a tender or exchange offer which, upon its
consummation, would result in such person beneficially owning 15% or more of the
outstanding shares of Common Stock. Unless either of these events occurs, the
Rights are deemed represented by the Common Stock certificates and no separate
trading market exists for the Rights. The Board of Directors may lower the
above-mentioned thresholds to not less than 10%.
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
/s/ John W. Hetherington
10/17/01
See
18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
**Signature of Reporting Person
Attorney-in-fact
Date