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                                                                      Exhibit 11


             Statement Regarding Computation of Per Share Earnings


         Primary earnings per share are computed by dividing earnings applicable
         to common shares by the weighted average number of common and common
         equivalent shares outstanding during the period.

         For purposes of computing primary earnings per share, common
         equivalent shares include the average number of common shares issuable
         upon the exercise of all employee stock options and awards and
         outstanding employee stock subscriptions, if dilutive, less the common
         shares which could have been purchased at the average market price
         during the period, with the assumed proceeds, including "windfall" tax
         benefits, from the exercise of the options, awards and subscriptions.

         Fully-diluted earnings per share are computed by dividing the sum of
         earnings applicable to common shares by the weighted average number of
         common shares, common equivalent shares and common shares assumed
         converted from potentially dilutive securities outstanding during the
         period.

         For purposes of computing fully-diluted earnings per share, common
         equivalent shares are computed on a basis comparable to that for
         primary earnings per share, except that common shares are assumed to
         be purchased at the market price at the end of the period, if dilutive.