STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS (IN THOUSANDS EXCEPT FOR PER SHARE AMOUNTS) For The Three Months Ended 10/31/96 Primary EPS Fully Diluted ----------- ------------- 1. PROCEEDS UPON EXERCISE OF OPTIONS $41,345 $41,345 2. MARKET PRICE OF SHARES CLOSING $21.625 AVERAGE $21.223 5. TREASURY SHARES PURCHASEABLE FROM OPTION PROCEEDS 1,948 1,912 6. OPTION SHARES OUTSTANDING 2,094 2,094 7. COMMON STOCK EQUIVALENTS (EXCESS SHARES UNDER OPTION OVER TREASURY SHARES THAT COULD BE REPURCHASED) 146 182 8. AVERAGE NUMBER OF SHARES OUTSTANDING 58,132 58,132 9. TOTAL OF COMMON AND COMMON EQUIVALENT SHARES 58,278 58,314 10. NET INCOME FOR THE PERIOD $19,076 $19,076 11. EARNINGS PER SHARE .33 .33 12. REPORTED EARNINGS PER SHARE Not Applicable