================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
---------------
FORM 11-K
ANNUAL REPORT
---------------
Pursuant to Section 15 (d)
of the Securities Exchange Act of 1934
for the year ended December 31, 1998
TRUMP CASINO SERVICES SAVINGS PLAN
----------------------------------
(Full title of the Plan)
TRUMP HOTELS AND CASINO RESORTS, INC.
------------------------------------------------------------
(Name of Issuer of the securities held pursuant to the Plan)
2500 Boardwalk
Atlantic City, New Jersey 08401
(Address of principal executive office)
================================================================================
TRUMP CASINO SERVICES SAVINGS PLAN
----------------------------------
FINANCIAL STATEMENTS AS OF DECEMBER 31, 1998 AND 1997
-----------------------------------------------------
TOGETHER WITH
-------------
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
----------------------------------------
TRUMP CASINO SERVICES SAVINGS PLAN
----------------------------------
INDEX
-----
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
FINANCIAL STATEMENTS:
Statements of Net Assets Applicable to Participants' Equity as of December 31,
1998 and 1997
Statement of Changes in Net Assets Applicable to Participants' Equity for the
Year Ended December 31, 1998
Notes to Financial Statements
SUPPLEMENTAL SCHEDULES:
I -- Item 27a - Schedule of Assets Held for Investment Purposes as of
December 31, 1998
II -- Item 27d - Schedule of Reportable Transactions for the Year Ended
December 31, 1998
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
----------------------------------------
To the Benefits Committee of the
Trump Casino Services Savings Plan:
We have audited the accompanying statements of net assets applicable to
participants' equity of the Trump Casino Services Savings Plan (the "Plan") as
of December 31, 1998 and 1997, and the related statement of changes in net
assets applicable to participants' equity for the year ended December 31, 1998.
These financial statements and the schedules referred to below are the
responsibility of the Plan's management. Our responsibility is to express an
opinion on these financial statements and schedules based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets applicable to participants' equity of the
Plan as of December 31, 1998 and 1997, and the changes in its net assets
applicable to participants' equity for the year ended December 31, 1998, in
conformity with generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of assets held
for investment purposes and reportable transactions are presented for the
purpose of additional analysis and are not a required part of the basic
financial statements but are supplementary information required by the
Department of Labor's Rules and Regulations for Reporting and Disclosure under
the Employee Retirement Income Security Act of 1974. The fund information in the
statements of net assets applicable to participants' equity and the statement of
changes in net assets applicable to participants' equity is presented for
purposes of additional analysis rather than to present the net assets applicable
to participants' equity and the changes in net assets applicable to
participants' equity of each fund. The supplemental schedules and fund
information have been subjected to the auditing procedures applied in the audits
of the basic financial statements and, in our opinion, are fairly stated in all
material respects in relation to the basic financial statements taken as a
whole.
ARTHUR ANDERSEN LLP
Roseland, New Jersey
June 10, 1999
TRUMP CASINO SERVICES SAVINGS PLAN
----------------------------------
STATEMENTS OF NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY
-----------------------------------------------------------
AS OF DECEMBER 31, 1998 AND 1997
--------------------------------
1998 1997
-------------- --------------
ASSETS:
Investments at market value (Notes 1 and 3)-
The Chicago Trust Company Stated Principal Value
Investment Trust Fund $691,743 $520,722
SoGen International Fund 226,048 288,022
Massachusetts Investors Trust Fund 1,449,596 924,268
Oppenheimer Quest Value Fund 429,513 330,701
Oppenheimer Quest Opportunity Value Fund 889,171 796,886
Montag & Caldwell Growth Fund 1,951,327 1,273,393
AIM Constellation Fund 477,599 589,282
Templeton Foreign Fund 544,211 581,584
Oppenheimer Quest Capital Value Fund 867,874 743,705
Davis New York Venture Fund 302,875 0
Franklin Small Cap Growth Fund 76,840 0
Trump Hotels & Casino Resorts, Inc. Common Stock 55,994 61,611
Participants' Loans Receivable 619,743 483,764
Other (39,339) 1,860
Contributions Receivable from Participants 30,614 30,311
-------------- --------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY $8,573,809 $6,626,109
============== ==============
The accompanying notes to financial statements are an integral part of these statements.
The Chicago
Trust Company
Stated Principal
Value Investment
Trust Fund
----------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
beginning of year $520,722
------------
Contributions-
Participants 74,508
Plan Sponsor (net of forfeitures) 41,048
Participant Rollovers 1,217
------------
Total contributions 116,773
Dividend income 0
Interest income 8
Realized/unrealized appreciation (depreciation) of investments 35,503
Distributions to participants (33,746)
Loans issued to participants (44,370)
Loan principal repayments 32,950
Administrative expenses (1,876)
Interfund transfers (net) 8,281
Transfers from (to) related plans 57,498
------------
Increase (decrease) in net assets 171,021
------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end of year $691,743
============
TRUMP CASINO SERVICES SAVINGS PLAN
----------------------------------
STATEMENT OF CHANGES IN NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY
---------------------------------------------------------------------
FOR THE YEAR ENDED DECEMBER 31, 1998
------------------------------------
Oppenheimer
SoGen Massachusetts Oppenheimer Quest
International Investors Quest Opportunity
Fund Trust Fund Value Fund Value Fund
------------- ------------- ----------- -----------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
beginning of year $288,022 $924,268 $330,701 $796,886
------------- ------------- ----------- -----------
Contributions- 37,962 127,981 58,694 109,662
Participants 11,469 41,301 19,310 35,732
Plan Sponsor (net of forfeitures) 753 19,964 0 20,099
Participant Rollovers ------------- ------------- ----------- -----------
Total contributions 50,184 189,246 78,004 165,493
Dividend income 21,920 77,699 18,617 51,167
Interest income 3 (18) 0 (27)
Realized/unrealized appreciation (depreciation) of investments (17,972) 169,300 16,760 14,859
Distributions to participants (48,489) (55,437) (14,381) (37,591)
Loans issued to participants (14,767) (78,111) (23,973) (47,556)
Loan principal repayments 11,394 51,206 17,026 35,202
Administrative expenses (129) (746) (261) (440)
Interfund transfers (net) (64,834) 192,153 (13,821) (106,339)
Transfers from (to) related plans 716 (19,964) 20,841 17,517
------------- ------------- ----------- -----------
Increase (decrease) in net assets (61,974) 525,328 98,812 92,285
------------- ------------- ----------- -----------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end of year $226,048 $1,449,596 $429,513 $889,171
============= ============= =========== ===========
The accompanying notes to financial statements are an integral part of this statement.
Montag &
Caldwell AIM Templeton Oppenheimer
Growth Constellation Foreign Quest Capital
Fund Fund Fund Value Fund
---------- ------------- ---------- -------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY,
beginning of year $1,273,393 $589,282 $581,584 $743,705
---------- ------------- ---------- -------------
Contributions-
Participants 171,723 49,449 76,479 85,527
Plan Sponsor (net of forfeitures) 56,319 15,530 25,268 27,492
Participant Rollovers 30,898 0 28,091 20,054
---------- ------------- ---------- -------------
Total contributions 258,940 64,979 129,838 133,073
Dividend income 58,655 11,789 56,853 26,614
Interest income (28) (12) (30) (36)
Realized/unrealized appreciation (depreciation) of investments 370,501 78,625 (86,611) 123,452
Distributions to participants (53,616) (18,925) (27,816) (67,451)
Loans issued to participants (97,048) (14,884) (38,143) (46,366)
Loan principal repayments 72,156 33,111 32,697 35,577
Administrative expenses (847) (230) (415) (451)
Interfund transfers (net) 31,443 (157,565) (114,213) (68,390)
Transfers from (to) related plans 37,778 (108,571) 10,467 (11,853)
---------- ------------- ---------- -------------
Increase (decrease) in net assets 677,934 (111,683) (37,373) 124,169
---------- ------------- ---------- -------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end of year $1,951,327 $477,599 $544,211 $867,874
========== ============= ========== =============
The accompanying notes to financial statements are an integral part of this statement.
Trump Hotels
Davis New & Casino
York Franklin Small Resorts, Inc. Participants'
Venture Cap Growth Common Loans
Fund Fund Stock Receivable
---------- -------------- ------------ -------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, $0 $0 $61,611 $483,764
beginning of year ---------- -------------- ------------ -------------
Contributions-
Participants 23,623 12,411 10,063 0
Plan Sponsor (net of forfeitures) 8,715 4,928 2,623 0
Participant Rollovers 754 753 2,009 0
---------- -------------- ------------ -------------
Total contributions 33,092 18,092 14,695 0
Dividend income 6,617 916 0 0
Interest income 0 0 581 0
Realized/unrealized appreciation (depreciation) of investments 19,398 (1,290) (21,582) 0
Distributions to participants (2,092) (2,115) (6,913) (30,073)
Loans issued to participants (7,490) (6,848) (11,850) 431,540
Loan principal repayments 5,316 5,884 3,534 (289,002)
Administrative expenses (86) (49) 0 0
Interfund transfers (net) 217,415 60,597 16,289 0
Transfers from (to) related plans 30,705 1,653 (371) 23,514
---------- -------------- ------------ -------------
Increase (decrease) in net assets 302,875 76,840 (5,617) 135,979
---------- -------------- ------------ -------------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end of year $302,875 $76,840 $55,994 $619,743
========== ============== ============ =============
The accompanying notes to financial statements are an integral part of this statement.
Other Total
----------- ----------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, $32,171 $6,626,109
beginning of year ----------- ----------
Contributions-
Participants (4,171) 833,911
Plan Sponsor (net of forfeitures) 1,466 291,201
Participant Rollovers (3,014) 121,578
----------- ----------
Total contributions (5,719) 1,246,690
Dividend income 0 330,847
Interest income 51,697 52,138
Realized/unrealized appreciation (depreciation) of investments 0 700,943
Distributions to participants 2,693 (395,952)
Loans issued to participants (134) 0
Loan principal repayments (47,051) 0
Administrative expenses (2,713) (8,243)
Interfund transfers (net) (1,016) 0
Transfers from (to) related plans (38,653) 21,277
----------- ----------
Increase (decrease) in net assets (40,896) 1,947,700
----------- ----------
NET ASSETS APPLICABLE TO PARTICIPANTS' EQUITY, end of year ($8,725) $8,573,809
=========== ==========
The accompanying notes to financial statements are an integral part of this statement.
TRUMP CASINO SERVICES SAVINGS PLAN
----------------------------------
NOTES TO FINANCIAL STATEMENTS
-----------------------------
(1) SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES:
----------------------
Basis of Accounting-
--------------------
The accompanying financial statements of the Trump Casino Services
Savings Plan (the "Plan") have been prepared on the accrual basis of
accounting.
Plan Expenses-
--------------
Expenses related to the administration of the Plan have been paid by
Trump Casino Services, L.L.C. (the "Plan Sponsor"). These costs
represent trustee fees and professional services and amounted to
approximately $24,000 in 1998.
Investments-
------------
The investments included in the statements of net assets applicable to
participants' equity are stated at market value. Market value, which is
equivalent to current value, is the unit valuation of the security at
the plan year-end as determined by The Chicago Trust Company, the
trustee of the Plan (the "Trustee"). Accounting records are maintained
on the accrual basis, investment transactions are recorded on the trade
date basis and gains and losses are calculated based upon an aggregate
participant cost that is maintained on an average unit cost basis.
Use of Estimates-
-----------------
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amount of net assets and disclosure
of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the
reporting period. Actual results could differ from those estimates.
Reclassifications-
------------------
Certain reclassifications have been made to prior year financial
statements to conform to the current year presentation.
(2) PLAN DESCRIPTION:
-----------------
The following description of the Plan provides only general information.
Participants should refer to the Plan document for a more complete
description of the Plan's provisions.
-2-
General-
--------
The Plan is a 401(k) Savings Plan, which was established by the Plan
Sponsor and became effective on January 1, 1997. All full or part-time
non-union employees become eligible for participation in the Plan on the
enrollment date immediately following the completion of 12 months of
service and the attainment of age 18.
The Plan is administered by a committee appointed by the Plan Sponsor
(the "Plan Administrator"). The Chicago Trust Company was appointed as
the trustee of the Plan by the Plan Administrator.
Contributions-
--------------
Participants-
-------------
Non-highly compensated participants, as defined, are eligible to
voluntarily contribute to the Plan up to 15% of their annual
compensation (effective January 1, 1999, 20% of annual compensation),
as defined. Highly compensated participants, as defined, are eligible
to voluntarily contribute to the Plan up to 7% of their annual
compensation, as defined. Tax deferred contributions are subject to a
limit by the Internal Revenue Code. The 1998 limit was $10,000 per
participant. Contributions to the Plan are invested by the Trustee, as
designated by the participant, in increments of 5%.
Plan Sponsor-
-------------
The Plan Sponsor contributes to the Plan 50% of each participant's
contributions, not to exceed 3% of the participant's annual
compensation, as defined.
Participant Rollovers-
----------------------
The Plan permits eligible participants, as defined, to rollover cash or
other property acceptable to the Plan Administrator from another
qualified plan in addition to qualified voluntary participant
contributions.
Distributions to Participants-
------------------------------
Each participant has a fully vested interest in the amount of his or
her contributions together with the allocable Plan earnings.
Contributions from the Plan Sponsor vest based on the vesting schedule
described below. The full value of the participant's vested interest in
his or her account in the Plan will be distributed upon termination of
the participant's employment. The normal form of payment is by lump
sum; however, if a participant's vested benefit from all contributions
exceeds $5,000, a participant has the right to receive payment in equal
periodic monthly, quarterly, semi-annual or annual installments over a
period not to exceed ten years.
A participant may also withdraw all or part of his or her account upon
attainment of age 59-1/2 or financial hardship, as defined in the Plan.
Upon termination of employment prior to eligibility for retirement, a
participant is eligible to receive the vested balance in his or her
account. There were no payments due to participants who have requested
to withdraw their funds prior to December 31, 1998 or 1997.
-3-
Vesting-
--------
Voluntary contributions are fully vested at all times and are not
subject to forfeiture.
The Plan Sponsor's contributions vest based upon the participant's years
of continuous service as follows-
Years of Continuous Service Percentage Vested
--------------------------- ---------------------
Less than two years 0%
Two years 25%
Three years 50%
Four years 75%
Five years or more 100%
Forfeitures-
------------
The portion of a former participant's account which is not distributed
because of the vesting provision will reduce the amount of the Plan
Sponsor's future contributions. During 1998, no forfeitures were used to
reduce Plan Sponsor contributions. As of December 31, 1998 and 1997,
$23,000 and $3,695 were available to reduce future Plan Sponsor
contributions, respectively.
Loans-
------
The Plan permits participants to borrow from their accounts at terms
established by the Plan Administrator. Participants may borrow up to the
lesser of $50,000 or 50% of their vested account balance for specific
reasons, as defined by the Plan. Each loan is secured by the borrower's
vested interest in the Plan and is subject to other requirements, as
defined. Interest on loans is charged at a rate that is comparable to
similar loans made by commercial lenders. Loans outstanding as of
December 31, 1998 had interest rates ranging from 8.75% to 9.50%. Loan
repayment terms range up to five years (fifteen years if the loan was
used to purchase a primary residence). A small administrative fee is
required to process all loans.
(3) INVESTMENTS:
------------
Participants can invest their funds in twelve available investment
vehicles as described below-
Money Market Fund-
------------------
THE CHICAGO TRUST COMPANY STATED PRINCIPAL VALUE INVESTMENT TRUST FUND
- A money market equivalent account. This fund invests in short-term
high quality financial instruments issued by insurance companies and
banks.
Mutual Funds-
-------------
SOGEN INTERNATIONAL FUND - A multi-asset global mutual fund. The
investment objective and style of this fund is to provide long-term
growth of capital by investing primarily in common stocks of United
States and foreign companies.
-4-
MASSACHUSETTS INVESTORS TRUST FUND - A growth and income mutual fund.
The investment objective of this fund is to provide reasonable current
income and long-term growth of capital and income.
OPPENHEIMER QUEST VALUE FUND - An equity mutual fund. The investment
objective of this fund is to seek capital appreciation by investing
primarily in equity securities believed to be undervalued in relation
to factors such as the companies' assets, earnings or growth potential.
OPPENHEIMER QUEST OPPORTUNITY VALUE FUND - An asset allocation mutual
fund. The investment objective and style of this fund is to seek
long-term capital appreciation by investing in stocks, bonds and cash
equivalents.
MONTAG & CALDWELL GROWTH FUND - An equity growth mutual fund. The
investment objective of this fund is to seek long-term capital
appreciation consistent primarily with investments in a combination of
equity, convertible, fixed-income and short-term securities.
AIM CONSTELLATION FUND - An aggressive equity mutual fund. The
investment objective of this fund is to seek capital appreciation
through investments in common stocks, with emphasis on medium-sized and
smaller emerging growth companies.
TEMPLETON FOREIGN FUND - Mutual fund investing in virtually any type of
security in any country outside of the United States, in developed or
emerging markets. The fund's objective is long-term capital growth.
OPPENHEIMER QUEST CAPITAL VALUE FUND - An equity mutual fund. The
investment objective of this fund is to seek capital appreciation by
investing primarily in equity securities believed to be undervalued in
relation to factors such as the companies' assets, earnings, or growth
potential or cash flows. This fund also may invest in high-yield,
noninvestment grade bonds.
DAVIS NEW YORK VENTURE FUND - Mutual fund investing primarily in equity
securities of United States and foreign companies with the objective of
capital appreciation.
FRANKLIN SMALL CAP GROWTH FUND - Mutual fund investing in equity
securities of companies with a market capitalization of less than $1
billion.
Common Stock-
-------------
TRUMP HOTELS & CASINO RESORTS, INC. ("THCR") COMMON STOCK - This is the
common stock of the holding company that owns Trump Plaza Hotel &
Casino, Trump Taj Mahal Hotel & Casino, Trump Marina Hotel & Casino and
Trump Indiana Inc.
(4) TAX STATUS:
-----------
The Plan has not yet received a determination letter from the Internal
Revenue Service stating whether the Plan, as designed, is in compliance
with the applicable requirements of the Internal Revenue Code. However,
the Plan Administrator believes that the Plan is currently designed and
being operated in compliance with the applicable requirements of the
Internal Revenue Code. Therefore, they believe that the Plan was
qualified and the related trust was tax exempt as of the financial
statement date.
-5-
(5) PLAN TERMINATION:
-----------------
While the Plan Sponsor has not expressed any intent to terminate the
Plan, the Plan Sponsor may do so at any time subject to the provisions of
the Employee Retirement Income Security Act of 1974. In the event of
termination, each participant is entitled to the value of his or her
separate account.
(6) RELATED PARTY
TRANSACTIONS:
-------------
Certain Plan investments are shares of a money market fund managed by The
Chicago Trust Company. The Chicago Trust Company is the Trustee as
defined by the Plan and, therefore, these transactions qualify as
party-in-interest.
Certain Plan investments include shares of THCR common stock ("Common
Stock") and, therefore, these transactions qualify as party-in-interest.
As of December 31, 1998 and 1997, the Plan holds Common Stock, with a
market value of $55,994 and $61,611, respectively. During the year ended
December 31, 1998, Common Stock was acquired at a cost of $187,413; and
Common Stock was sold with an original cost basis of $170,271.
The Plan Sponsor has sister companies that also sponsor similar Savings
Plans. Transactions between the Plan and plans sponsored by the sister
companies are as follows-
Transfers out of the Trump Marina Hotel & Casino
Savings Plan, net ($3,277)
Transfers out of the Trump Taj Mahal Hotel & Casino
Savings Plan, net (73,313)
Transfers out of the Trump Plaza Hotel & Casino
Savings Plan, net (46,372)
Transfers to the Trump Casino Services Savings Plan, net 21,277
Transfers to the Trump Indiana Savings Plan, net 101,685
-----------
Net Related Plan Transfers $ 0
===========
(7) SUBSEQUENT EVENT:
-----------------
During 1999, the Trump Plaza Hotel & Casino Savings Plan and the Trump
Indiana Savings Plan will merge with the Plan. The Plan will be renamed
the Trump Savings Plan.
SCHEDULE I
TRUMP CASINO SERVICES SAVINGS PLAN
----------------------------------
ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
----------------------------------------------------------
AS OF DECEMBER 31, 1998
-----------------------
EMPLOYER IDENTIFICATION #22-3446804, PLAN NUMBER 001
----------------------------------------------------
(b) Identity of issue, (c) Description of investment including
borrower, lessor or maturity date, rate of interest, collateral, par (e) Market
(a) similar party or maturity value (d) Cost Value
------------------------- --------------------------------------------------- --------------- ---------------
* The Chicago Trust Stated Principal Value Investment Trust
Company Fund, Money Market Funds, 394,988 units
of participation $626,504 $691,743
--------------- ---------------
SoGen Funds SoGen International Fund, Equity Securities,
9,811 units of participation 259,454 226,048
MFS Funds Massachusetts Investors Trust Fund, Equity
Securities, 71,585 units of participation 1,231,259 1,449,596
Oppenheimer Quest Value Fund, Equity Securities, 20,137
units of participation 396,771 429,513
Oppenheimer Quest Opportunity Value Fund, Equity and
Debt Securities, 24,734 units of
participation 835,220 889,171
Montag Montag & Caldwell Growth Fund, Equity
Securities, 65,812 units of participation 1,439,074 1,951,327
AIM Funds, Inc. AIM Constellation Fund, Equity Securities,
15,649 units of participation 409,957 477,599
Templeton Funds, Inc. Templeton Foreign Fund, Equity Securities,
64,864 units of participation 665,111 544,211
Oppenheimer Quest Capital Value Fund, Equity and Debt
Securities, 25,578 units of participation 854,999 867,874
Davis Funds, Inc. Davis New York Venture Fund, Equity
Securities, 12,110 units of participation 284,637 302,875
Franklin Funds, Inc. Franklin Small Cap Growth Fund, Equity
Securities, 3,405 units of participation 76,095 76,840
--------------- ---------------
Total investment in mutual funds 6,452,577 7,215,054
--------------- ---------------
** Trump Hotels & Trump Hotels & Casino Resorts, Inc.
Casino Resorts, Inc. Common Stock, 14,932 shares 110,684 55,994
Participants' Loans Interest rates ranging from 8.75% to 9.50%
and maturities ranging from 1999 through
2013 619,743 619,743
--------------- ---------------
$7,809,508 $8,582,534
=============== ===============
* Denotes party-in-interest
**Denotes related party
The accompanying notes to financial statements are an integral part of this schedule.
SCHEDULE II
TRUMP CASINO SERVICES SAVINGS PLAN
----------------------------------
ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
----------------------------------------------
FOR THE YEAR ENDED DECEMBER 31, 1998(A)
---------------------------------------
EMPLOYER IDENTIFICATION #22-3446804, PLAN NUMBER 001
----------------------------------------------------
(c) Purchase
(a) Identity of Party Involved (b) Description of Asset Price (d) Selling Price
- ----------------------------------- ---------------------------------------------------- --------------- ---------------------
The Chicago Trust Company Stated Principal Value Investment Trust Fund-
169 Purchases $328,444 N/A
114 Sales N/A $192,928
MFS Funds Massachusetts Investors Trust Fund-
188 Purchases 671,144 N/A
154 Sales N/A 315,115
Oppenheimer Quest Opportunity Value Fund-
156 Purchases 326,668 N/A
123 Sales N/A 249,244
Montag Montag & Caldwell Growth Fund-
195 Purchases 681,360 N/A
173 Sales N/A 373,927
AIM Funds, Inc. AIM Constellation Fund-
141 Purchases 141,901 N/A
152 Sales N/A 332,207
Templeton Funds, Inc. Templeton Foreign Fund-
150 Purchases 248,787 N/A
142 Sales N/A 199,492
Oppenheimer Quest Capital Value Fund-
142 Purchases 221,883 N/A
142 Sales N/A 221,168
Davis Funds, Inc. Davis New York Venture Fund-
153 Purchases 313,287 N/A
33 Sales N/A 29,810
(h) Current Value of Asset (i) Net Gain
(a) Identity of Party Involved (g) Cost of Asset on Transaction Date (Loss)
- ----------------------------------- --------------------- ------------------------------ ---------------
The Chicago Trust Company $328,444 $328,444 N/A
184,590 192,928 $8,338
MFS Funds 671,144 671,144 N/A
269,147 315,115 45,968
Oppenheimer 326,668 326,668 N/A
218,593 249,244 30,651
Montag 681,360 681,360 N/A
329,053 373,927 44,874
AIM Funds, Inc. 141,901 141,901 N/A
304,175 332,207 28,032
Templeton Funds, Inc. 248,787 248,787 N/A
217,978 199,492 (18,486)
Oppenheimer 221,883 221,883 N/A
231,727 221,168 (10,559)
Davis Funds, Inc. 313,287 313,287 N/A
28,650 29,810 1,160
-2- SCHEDULE II
(Continued)
(c) Purchase
(a) Identity of Party Involved (b) Description of Asset Price (d) Selling Price
- ----------------------------------- ---------------------------------------------------- --------------- ---------------------
Trump Hotels & Casino Resorts, Inc. Trump Hotels & Casino Resorts, Inc. Common Stock-
243 Purchases $187,413 N/A
149 Sales N/A $170,538
The Chicago Trust Company Loan Fund-
69 Purchases 457,655 N/A
85 Sales N/A 321,676
(h) Current Value of Asset (i) Net Gain
(a) Identity of Party Involved (g) Cost of Asset on Transaction Date (Loss)
- ----------------------------------- --------------------- ------------------------------ ---------------
Trump Hotels & Casino Resorts, Inc. $187,413 $187,413 N/A
170,271 170,538 $267
The Chicago Trust Company 457,655 457,655 N/A
321,676 321,676 0
(A) Reportable transactions are those purchases and sales of the same
security which, individually or in the aggregate, exceed 5% of Plan assets at
January 1, 1998.
The accompanying notes to financial statements are an integral part of this schedule.