1
EXHIBIT 99-4
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 Fiscal Year Ended December 31, 1993
SONOCO PRODUCTS COMPANY
ENGRAPH, INC. RETIREMENT PLUS PLAN
SONOCO PRODUCTS COMPANY
NORTH SECOND STREET
HARTSVILLE, SOUTH CAROLINA 29550
2
EXHIBIT 99-4
C O N T E N T S
---------------
Pages
-----
Reports of Independent Accountants 3 - 4
Financial Statements:
Statements of Net Assets Available
for Plan Benefits 5 - 6
Statements of Changes in Net Assets
Available for Plan Benefits 7 - 8
Notes to Financial Statements 9 - 13
Supplemental Schedules:
Item 27a - Schedule of Assets Held
for Investment Purposes 15
Item 27d - Schedule of Reportable
Transactions 16
3
REPORT OF INDEPENDENT ACCOUNTANTS
---------------------------------
To the Plan Administrator of the
Engraph, Inc. Retirement Plus Plan:
We have audited the accompanying statement of net assets available for plan
benefits of the Engraph, Inc. Retirement Plus Plan (the "Plan") as of December
31, 1993, and the related statement of changes in net assets available for plan
benefits for the year then ended. These financial statements are the
responsibility of the plan sponsor. Our responsibility is to express an
opinion on these financial statements based on our audit. The financial
statements of Engraph, Inc. Retirement Plus Plan for the year ended December
31, 1992, were audited by other auditors, whose report dated June 28, 1993,
expressed an unqualified opinion on those statements.
We conducted our audit 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 audit provides a reasonable basis
for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for plan benefits of the
Engraph, Inc. Retirement Plus Plan as of December 31, 1993, and the changes in
net assets available for plan benefits for the year then ended in conformity
with generally accepted accounting principles.
Our audit was conducted 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 as of and for the year
ended December 31, 1993 are presented for purposes of complying with the
Department of Labor's Rules and Regulations for Reporting and Disclosure under
the Employee Retirement Income Security Act of 1974 and are not a required part
of the basic financial statements. The supplemental schedules have been
subjected to the auditing procedures applied in the audit 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.
/s/ Coopers and Lybrand
-----------------------
Coopers & Lybrand
Charlotte, North Carolina
March 11, 1994
3
4
ARTHUR ANDERSEN & CO.
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Plan Administrator of the
Engraph, Inc. Retirement Plus Plan:
We have audited the accompanying statement of net assets available for benefits
of the ENGRAPH, INC. RETIREMENT PLUS PLAN as of December 31, 1992 and the
related statements of changes in net assets available for benefits for the year
then ended. These financial statements are the responsibility of the plan
sponsor. Our responsibility is to express an opinion on these financial
statements based on our audit.
We conducted our audit 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 audit provides a reasonable basis
for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the Engraph,
Inc. Retirement Plus Plan as of December 31, 1992 and the changes in its net
assets available for benefits for the year then ended in conformity with
generally accepted accounting principles.
/s/ Arthur Andersen & Co.
-------------------------
Arthur Andersen & Co.
Atlanta, Georgia
June 28, 1993
4
5
Exhibit 99-4
ENGRAPH INC. RETIREMENT PLUS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
December 31, 1993 and 1992
--------------------------
Company Stock Fund Money Market Fund Equity Fund
------------------ ----------------- ----------------
1993 1992 1993 1992 1993 1992
---- ---- ---- ---- ---- ----
Assets:
Investments, at current value:
Sonoco Products Company common stock (Note 1) $13,750,000 $ $ $ $ $
Engraph, Inc. common stock (Note 1) 11,600,959
Equity fund 8,026,351 3,420,320
Investment contract fund
Short-term investment fund 389,638 284,644 2,137,418 2,560,504 41,447
Employee loans receivable
----------- ----------- ---------- ---------- ---------- ----------
14,139,638 11,885,603 2,137,418 2,560,504 8,026,351 3,461,767
----------- ----------- ---------- ---------- ---------- ----------
Other assets:
Contributions receivable, Company 853,365 529,921 106,321 171,512 344,904 205,287
Contributions receivable, employee 61,374 38,917 6,508 20,891 18,085 21,965
Other employer contributions receivable 2,504 3,774 82 1,567 384 123
Accrued income 18,329 627 6,443 8,392
----------- ----------- ---------- ---------- ---------- ----------
935,572 573,239 119,354 202,362 363,373 227,375
----------- ----------- ---------- ---------- ---------- ----------
Total assets 15,075,210 12,458,842 2,256,772 2,762,866 8,389,724 3,689,142
----------- ----------- ---------- ---------- ---------- ----------
Liabilities:
Accounts payable 16,518 2,187 3,247 3,101 15,427 7,690
Accrued forfeitures 14,412 6,214 3,575 654 9,275 1,761
----------- ----------- ---------- ---------- ---------- ----------
Total liabilities 30,930 8,401 6,822 3,755 24,702 9,451
----------- ----------- ---------- ---------- ---------- ----------
Net assets available for plan benefits $15,044,280 $12,450,441 $2,249,950 $2,759,111 $8,365,022 $3,679,691
=========== =========== ========== ========== ========== ==========
Investment
Contract Fund
----------------
1993 1992
---- ----
Assets:
Investments, at current value:
Sonoco Products Company common stock (Note 1) $ $
Engraph, Inc. common stock (Note 1)
Equity fund
Investment contract fund 8,686,061 5,932,325
Short-term investment fund 51,170
Employee loans receivable
---------- ----------
8,686,061 5,983,495
---------- ----------
Other assets:
Contributions receivable, Company 331,488 320,500
Contributions receivable, employee 6,835 31,315
Other employer contributions receivable 23,289 24,780
Accrued income
---------- ----------
361,612 376,595
---------- ----------
Total assets 9,047,673 6,360,090
---------- ----------
Liabilities:
Accounts payable 7,448 5,594
Accrued forfeitures 20,012
---------- ----------
Total liabilities 27,460 5,594
---------- ----------
Net assets available for plan benefits $9,020,213 $6,354,496
========== ==========
6
ENGRAPH, INC. RETIREMENT PLUS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS, Continued
-------
Loan Fund PPFC Fund Total
---------------- ---------------- ------------------
1993 1992 1993 1992 1993 1992
---- ---- ---- ---- ---- ----
Assets:
Investments, at current value:
Sonoco Products Company common stock (Note 1) $ $ $ $ $13,750,000 $
Engraph, Inc. common stock (Note 1) 11,600,959
Equity fund 8,026,351 3,420,320
Investment contract fund 8,686,061 5,932,325
Short-term investment fund 1,527,122 2,527,056 4,464,887
Employee loans receivable 1,142,838 936,532 1,142,838 936,532
---------- -------- ---------- ----------- ----------
1,142,838 936,532 1,527,122 34,132,306 26,355,023
---------- ----------- -----------
Other assets:
Contributions receivable, Company 1,636,078 1,227,220
Contributions receivable, employee 92,802 113,088
Other employer contributions receivable 26,259 30,244
Accrued income 4,943 24,772 13,962
---------- ----------- -----------
4,943 1,779,911 1,384,514
---------- -------- ---------- ----------- -----------
Total assets 1,142,838 936,532 1,532,065 35,912,217 27,739,537
---------- ----------- -----------
Liabilities:
Accounts payable 1,491 42,640 20,063
Accrued forfeitures 47,274 8,629
---------- ----------- -----------
Total liabilities 1,491 89,914 28,692
---------- -------- ---------- ---------- ----------- -----------
Net assets available for plan benefits $1,142,838 $936,532 $ -0- $1,530,574 $35,822,303 $27,710,845
========== ======== ========== ========== =========== ===========
The accompanying notes are an integral part of the financial statements.
7
ENGRAPH, INC. RETIREMENT PLUS PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
for the years ended December 31, 1993 and 1992
----------------------------------
Company Stock Fund Money Market Fund Equity Fund
------------------ ----------------- -----------------
1993 1992 1993 1992 1993 1992
---- ---- ---- ---- ---- ----
Investment income:
Net appreciation (depreciation) $ 4,379,180 $ 2,695,568 $ $ $ 608,862 $ 324,985
Dividends 94,844 113,498
Interest 100,668 10,568 101,437 103,537 93,947 742
Interest on loans 36,296 36,345 9,795 12,035 11,234 14,559
----------- ----------- ---------- ---------- ---------- ----------
4,610,988 2,855,979 111,232 115,572 714,043 340,286
Fees and other expenses (26,780) (7,283) (14,366) (12,249) (50,955) (29,655)
----------- ----------- ---------- ---------- ---------- ----------
Net investment income 4,584,208 2,848,696 96,866 103,323 663,088 310,631
----------- ----------- ---------- ---------- ---------- ----------
Contributions:
Employee 866,174 647,168 241,637 286,542 415,588 310,441
Company Match 608,754 476,684
Company Basic 707,640 444,568 106,321 188,578 344,904 214,835
Other employer contributions and transfers 2,504 7,414 82 1,568 384 1,798
Rollover 15,513 36,388 31,501 17,453 40,546
----------- ----------- ---------- ---------- ---------- ----------
2,200,585 1,612,222 348,040 508,189 778,329 567,620
----------- ----------- ---------- ---------- ---------- ----------
Participant withdrawals, at market value (607,572) (526,308) (238,814) (203,003) (226,371) (208,625)
----------- ----------- ---------- ---------- ---------- ----------
Forfeitures (43,690) (34,234) (9,291) (14,970) (25,739) (16,980)
----------- ----------- ---------- ---------- ---------- ----------
Interfund transfers, net (3,539,692) (151,012) (705,962) (160,615) 3,496,024 252,258
----------- ----------- ---------- ---------- ---------- ----------
Increase (decrease) in net assets
available for plan benefits 2,593,839 3,749,364 (509,161) 232,924 4,685,331 904,904
Net assets available for plan benefits at
beginning of year 12,450,441 8,701,077 2,759,111 2,526,187 3,679,691 2,774,787
----------- ----------- ---------- ---------- ---------- ----------
Net assets available for plan benefits at
end of year $15,044,280 $12,450,441 $2,249,950 $2,759,111 $8,365,022 $3,679,691
=========== =========== ========== ========== ========== ==========
Investment
Contract Fund
-----------------
1993 1992
---- ----
Investment income:
Net appreciation (depreciation) $ 319,288 $ 391,705
Dividends
Interest 103,264 1,692
Interest on loans 17,865 19,291
---------- ----------
440,417 412,688
Fees and other expenses (28,114) (25,521)
---------- ----------
Net investment income 412,303 387,167
---------- ----------
Contributions:
Employee 452,444 480,852
Company Match
Company Basic 331,488 340,272
Other employer contributions and transfers 23,289 24,780
Rollover 1,323 31,542
---------- ----------
808,544 877,446
---------- ----------
Participant withdrawals, at market value (556,858) (334,805)
---------- ----------
Forfeitures (45,681) (15,750)
--------- ----------
Interfund transfers, net 2,047,409 14,842
---------- ----------
Increase (decrease) in net assets
available for plan benefits 2,665,717 928,900
Net assets available for plan benefits at
beginning of year 6,354,496 5,425,596
---------- ----------
Net assets available for plan benefits at
end of year $9,020,213 $6,354,496
========== ==========
8
ENGRAPH, INC. RETIREMENT PLUS PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS, Continued
---------
Loan Fund PPFC Fund Total
-------------------- ------------------ -----------------
1993 1992 1993 1992 1993 1992
---- ---- ---- ---- ---- ----
Investment income:
Net appreciation (depreciation) $ $ $ $ 51,896 $ 5,307,330 $3,464,154
Dividends 6,833 94,844 120,331
Interest 160 31,777 399,476 148,316
Interest on loans 1,811 75,190 84,041
----------- ---------- ---------- -----------
160 92,317 5,876,840 3,816,842
Fees and other expenses 1,491 (4,499) (118,724) (79,207)
----------- ---------- ---------- -----------
Net investment income 1,651 87,818 5,758,116 3,737,635
----------- ---------- ---------- -----------
Contributions:
Employee 1,975,843 1,725,003
Company Match 608,754 476,684
Company Basic 787 1,490,353 1,189,040
Other employer contributions and transfers 26,259 35,560
Rollover 34,289 139,977
---------- ----------- -----------
787 4,135,498 3,566,264
---------- ----------- -----------
Participant withdrawals, at market value (28,140) (90,964) (1,657,755) (1,363,705)
---------- ----------- -----------
Forfeitures (1,892) (124,401) (83,826)
----------- ----------
Interfund transfers, net 206,306 20,647 (1,504,085) 23,880
---------- --------- ----------- ---------- ----------- -----------
Increase (decrease) in net assets
available for plan benefits 206,306 20,647 (1,530,574) 19,629 8,111,458 5,856,368
Net assets available for plan benefits at
beginning of year 936,532 915,885 1,530,574 1,510,945 27,710,845 21,854,477
---------- --------- ----------- ---------- ----------- -----------
Net assets available for plan benefits
at end of year $1,142,838 $ 936,532 $ -0- $1,530,574 $35,822,303 $27,710,845
========== ========= =========== ========== =========== ===========
The accompanying notes are an integral part of the financial statements.
9
ENGRAPH, INC., RETIREMENT PLUS PLAN
NOTES TO FINANCIAL STATEMENTS
--------
1. Description of the Plan:
The Engraph, Inc. Retirement Plus Plan (the "Plan") is a contributory
defined contribution plan. All employees of Engraph, Inc. (the
"Employer" and plan sponsor) who have completed one year of service
are eligible to participate in the Plan except those employees of any
identifiable division of the Employer whom the chief executive officer
of the Employer has not declared eligible for participation.
Participants may make pretax and after tax contributions, as allowed
by Section 401(k) of the Internal Revenue code, of 1% to 6% of their
annual wages and salaries. The Employer provides matching
contributions based on a percentage of the Employee's pretax
contribution that varies with the Employer's return on equity. The
Employer further provides a Company Basic contribution for all
eligible participants based on a percentage of annual compensation.
Employer contributions to each participant's Company Match account
and Company Basic contribution account are discretionary. The Plan is
subject to the provisions of the Employee Retirement Security Act of
1974.
In October 1993, Sonoco Products Company (the "Parent") acquired
Engraph, Inc. following the successful conclusion of a cash tender
offer and merger transaction. The Plan's trustee tendered all shares
of Engraph, Inc. common stock included in the Plan to Sonoco Products
Company. Each member was permitted to direct the Plan administrator
to transfer the proceeds among one or more individual funds.
Employer contributions to each participant's Company Match account are
based on a sliding scale of 30% to 100% of each employee's pretax
contributions based on the Employer's return on equity during the
preceding year. At a 12% or lower return on equity, the Employer's
contributions are 30% of the employee's pretax contributions,
increasing to a maximum 100% Employer contribution at a 20% return on
equity.
Employer contributions to the Company Match account are invested in
the Company stock fund. Dividends paid by the Parent on shares of
Sonoco Products Company common stock are reinvested in Sonoco Products
Company common stock. Prior to the acquisition of Engraph, Inc. by
Sonoco Products Company, a similar dividend reinvestment policy was in
effect for Engraph, Inc. common stock.
10
Exhibit 99-4
ENGRAPH, INC., RETIREMENT PLUS PLAN
NOTES TO FINANCIAL STATEMENTS, Continued
--------
1. Description of the Plan, continued:
The Plan is comprised of five separate investment funds plus a loan
fund. The Company Stock Fund invests in Sonoco Products Company
common stock. Prior to October 1993, the Company Stock Fund invested
in Engraph, Inc. common stock. The Money Market Fund invests in such
investments as savings certificates, certificates of deposit, and
money market funds so as to conserve capital and earn dependable
investment income consistent with short- to intermediate-term
securities. The Equity Fund invests in publicly traded common stocks
and similar equity securities of other companies so as to provide
capital appreciation and earn investment income. The Investment
Contract Fund invests in investment contracts issued by one or more
insurance companies or other financial institutions that provide a
fixed rate of return. At age 55, the participants' accounts, with the
exception of the Company Match account, are automatically invested in
the Investment Contract Fund unless the participant makes a timely
written election to the plan administrator to change the investment of
his accounts. Participants may borrow from the funds subject to
provisions of the Plan, and such amounts are reflected in the Loan
Fund. The PPFC Fund was established to hold the Engraph, Inc. common
stock allocated to participants employed by a division sold in 1991
during the period of time in which it was being liquidated. On
January 1, 1993, all such common stock had been liquidated into
short-term investment funds and was reallocated to the other investment
funds in accordance with participants' directions (see Note 5).
Participants may elect to contribute to and transfer the investments
in their participants' accounts to any combination of the Company
Stock Fund, the Money Market Fund, the Equity Fund, and the Investment
Contract Fund but are restricted in the frequency of such elections.
As of December 31, 1993 and 1992, the number of participants with
investments in the six separate funds was as follows:
Company Money Investment
Stock Market Equity Contract Loan PPFC
Fund Fund Fund Fund Fund Fund Total
------- ------ ------ ---------- ---- ---- -----
1993 1,159 453 761 945 371 -- 1,862
1992 1,174 595 548 843 354 155 1,682
Participants are fully vested at all times to the extent of their
employee contributions and related Company Match contributions and
income earned thereon. Participants become fully vested in their
rights to Company Basic contributions upon completion of five years of
vested service.
10
11
ENGRAPH, INC., RETIREMENT PLUS PLAN
NOTES TO FINANCIAL STATEMENTS, Continued
--------
1. Description of the Plan, continued:
Upon retirement, participants may elect to receive payment of amounts
in their participant equity account in a lump sum, in equal monthly
installments over five to fifteen years, or in any combination
thereof.
Participants may borrow against their account balances. The minimum
amount of any loan is $1,000 and the maximum is $50,000 or 50% of a
participant's total vested balance, whichever is less. Principal and
interest is due not less than quarterly over no more than four years
for a personal loan. Interest is determined based on the prime rate
plus 1%.
The Employer expects to continue the Plan indefinitely. However,
should the Plan be terminated, the plan equity at the termination date
would be distributed to participants based on amounts which have been
allocated to their participants' accounts. As of December 31, 1993
and 1992, approximately $665,000 and $346,000, respectively, were
allocated to accounts of persons who have withdrawn from participation
in the Plan.
Participants should refer to the Plan documents and amendments for a
more complete description of the Plan.
2. Summary of Significant Accounting Policies:
BASIS OF ACCOUNTING - The accompanying financial statements have been
prepared in accordance with generally accepted accounting principles.
CONTRIBUTIONS - Employee contributions are accrued and
reflected as receivables in the period in which amounts for such
contributions are withheld as payroll deductions. Employer
contributions to the Company Match account are accrued based upon
employee pretax contributions in accordance with the Plan and are
reflected as receivables until such contributions in cash or in shares
of Sonoco Products Company (Engraph, Inc. common stock prior to
October 1993) are received. Employer contributions to the Company
Match account were made at 34% and 30% of employee pretax
contributions in 1993 and 1992, respectively, and will be made at 50%
of employee pretax contributions in 1994. Employer contributions to
the Company Basic contribution account are accrued based on eligible
compensation in accordance with the Plan and are reflected as
receivables until such contributions are received. Effective January
1, 1993 participants at Screen Graphics, Inc. (an Employer subsidiary)
were granted eligibility to receive Employer contributions to the
Company Basic contribution account.
INVESTMENTS - Investments are stated at current value, as determined
by Frank Russell Trust Company, the "Trustee" of the Plan, based on
quoted market prices.
12
ENGRAPH, INC., RETIREMENT PLUS PLAN
NOTES TO FINANCIAL STATEMENTS, Continued
--------
2. Summary of Significant Accounting Policies, continued:
The Plan presents in the statement of changes in net assets available
for plan benefits the net appreciation (depreciation) in the fair
value of its investments which consists of the realized gains or
losses and the unrealized appreciation (depreciation) on those
investments.
Dividend income is recorded on the ex-dividend date. Income from
other investments is recorded as earned.
ADMINISTRATIVE EXPENSES - All recordkeeping expenses for the
administration of the Plan are paid by the Employer. All trust and
custodial expenses and investment management fees are paid by the
Plan.
3. Investments:
A summary of the Plan's investments by account type as of December 31
is as follows:
1993
---------------------------------------------------
Shares or Market
Units Cost Value
---------- ---- ------
Sonoco Products Company
common stock 625,000 $13,721,875 $13,750,000
Equity fund 650,748 6,567,345 8,026,351
Investment contract fund 565,981 7,425,574 8,686,061
Short-term investment fund,
money market 2,527,056 2,527,056 2,527,056
Employee loans receivable 1,142,838 -0- 1,142,838
----------- -----------
$30,241,850 $34,132,306
=========== ===========
13
ENGRAPH, INC., RETIREMENT PLUS PLAN
NOTES TO FINANCIAL STATEMENTS, Continued
--------
3. Investments, continued:
1992
-----------------------------------------------------
Shares or Market
Units Cost Value
--------- ---- ------
Engraph, Inc. common stock 1,008,779 $ 6,304,984 $11,600,959
Equity fund 7,917 2,595,472 3,420,320
Investment contract fund 40,756 4,974,933 5,932,325
Short-term investment
fund, money market 4,464,887 4,464,887 4,464,887
Employee loans receivable 936,532 -0- 936,532
----------- -----------
$18,340,276 $26,355,023
=========== ===========
4. Tax Status:
The plan administrator has received a favorable determination letter
from the Internal Revenue Service stating that the Plan, as amended
and restated effective April 29, 1992, is in compliance with Section
401 of the Internal Revenue Code. Accordingly, no provision for
federal income taxes has been made in the accompanying financial
statements, and in the opinion of the Employer, none is required.
Employee pretax contributions from payroll deductions, employer
contributions, and investment income from the Plan are not taxable to
the participants until withdrawals are made.
5. Plan Amendments:
The Plan was amended effective October 1, 1991 to provide a separate
fund, the PPFC Fund. The PPFC Fund held the Engraph, Inc. common
stock for participants employed by the Package Products Flexible
division sold in 1991. The PPFC Fund enabled the Trustee to liquidate
the stock in an orderly manner. On January 1, 1993, the liquidated
funds were reallocated to other investment funds in accordance with
participants' directions. The accrued plan balances of the Package
Products Flexible employees will be maintained in the Plan until such
time as the acquiring company receives a favorable determination
letter for its defined contribution plan from the Internal Revenue
Service. Once the favorable determination is received, a
trust-to-trust transfer of assets will take place for the Package
Products Flexible participants.
The Plan was amended effective November 18, 1993 to provide that any
matching contributions made for the quarter ending December 31, 1993
and subsequent matching contributions, be invested in shares of Sonoco
Products Company common stock.
14
SUPPLEMENTAL SCHEDULES
15
ENGRAPH, INC. RETIREMENT PLUS PLAN
ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
for the year ended December 31, 1993
--------
Employer Identification Number 56-0481457
Plan Number 003
Shares or Market
Units Cost Value
--------- ---- ------
Sonoco Products Company
common stock 625,000 $13,721,875 $13,750,000
Equity fund 650,748 6,567,345 8,026,351
Investment contract fund 565,981 7,425,574 8,686,061
Short-term investment fund,
money market 2,527,056 2,527,056 2,527,056
Employee loans receivable 1,142,838 -0- 1,142,838
----------- -----------
$30,241,850 $34,132,306
=========== ===========
16
Exhibit 99-4
ENGRAPH, INC. RETIREMENT PLUS PLAN
ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
for the year ended December 31, 1993
-------------------
Employer Identification Number 56-0481457
Plan Number 003
Represents a transaction or a series of transactions of securities of the same
issue or by the same broker in excess of 5% of the current value of plan assets
as of the beginning of the year.
Purchases and
Other Additions Sales and Other Reductions
--------------------------- ----------------------------------------------------------
Number of Number of Realized
Transactions Amount Transactions Proceeds Cost Gain
------------ ------ ------------ -------- ----- --------
Sonoco Products Company common
stock 2 $13,721,875 $ $ $
Engraph, Inc. common stock 16 1,007,777 1 16,837,167 7,229,502 9,607,665
Common trust fund, short-term
investments 141 23,972,778 112 24,775,117 24,775,117
Common trust fund, equity 21 3,754,271 12 295,205 226,516 68,689
Common trust fund, investment
contracts 22 2,453,354 13 760,595 642,426 118,169