American Management Association: annual report 1996.

GLOBAL GROWTH AMID RETRENCHMENTYour association had a difficult year financially in 1996 compared to last year. Lower than anticipated response to our one-day seminars, both here and in Europe, and increased costs associated with the development of our Partnership Group business were partially offset by a very strong performance by the Center for Management Development, our in-depth seminar group.

The accompanying financial statement will show a small excess of revenue over cost, however; that positive net includes a rent pickup that is non-operational.

The rent pickup is there because after years of looking for suitable new space for our New York Headquarters and Learning Center, I'm happy to say we actually moved in October.

Everyone who has used the center has raved about it. From lighting to acoustics and from audiovisual equipment to satellite reception capabilities, our facilities are state-of-the-art. Even if you're not attending a seminar, please stop in and take a look at the new facility located at 1601 Broadway. I think you will be very pleased with the learning environment your Association has created.

We have also opened a center in Islamabad, Pakistan. In the first 10 months of operation we have held 68 seminars, signed up 500 self-study participants, started a membership drive and created a biweekly, full-page management feature for the largest circulation English-language business newspaper in Pakistan. Unfortunately, as I write this, the political situation in Pakistan has destabilized; luckily, our operations have not yet been affected. We expect Pakistan to normalize and to serve as a platform for servicing the predominantly Islamic people in Kurdistan and Uzbekistan.

Our 1-year-old operation in China is doing very well. We are rapidly approaching break-even; more important, we are well on our way to creating a cadre of AMA-trained Chinese speakers as well as a host of AMA materials customized for China. Together, these are critical steps toward our goal of servicing Chinese as well as expatriate companies.

Our European operation had a good year, except for one-day programs. We are very excited about the fact that we trained more than 1,000 managers from Eastern Europe this year. That's a sixfold increase from three years ago and is a testament not only to AMA's reputation in the area but also to the growth of these economies.

In the United States, we launched our own Web site and began marketing our products and services electronically, doubled the number of CD-ROM-based training programs we offer, and ran highly successful conferences for human resources professionals and secretaries and administrative assistants.

Our Partnership Group, started just two years ago, also made substantial progress. The number of companies using this service to create totally customized, systemic, business solutions-based training grew significantly. We look forward to rapid growth in 1997 from this group.

Finally, and perhaps most important, in the United States and Europe we surveyed various customer groups about what constitutes value in management education. The answers were remarkably similar in all locations. In 1997 we plan to implement value-enhancement programs on those indices you indicated were most critical.

As you can see, despite our financial problems, your Association accomplished much in 1996. I see those accomplishments as laying a strong foundation for future growth. I also view the 1996 financial shortfall as a bump in the road and expect us to improve our net position in 1997.

None of these accomplishments would have been possible without the support of members, Council members, trustees and, of course, the AMA staff. I want to thank all AMA stakeholders for their continuing support.

David Fagiano.

President and Chief Executive Officer American Management Association.

HOW DOES THE CUSTOMER DEFINE VALUE?In 1996, units of American Management Association researched extensively how our customers perceive value, as part of our drive to shift from being product-driven to focusing on our customers' needs.

Across the board, our research showed that customers value course content that is practical and relevant, knowledgeable and engaging course leaders, and quality programming offered at convenient and comfortable sites were also repeatedly cited in the research. Our customers also are concerned about the depth of course coverage, and they want to be sure that the information is delivered as described.

This information was gathered by every operational unit through surveys and one-on-one interviews. The information is now being used to ensure increased value in all our services and offerings in 1997.

PARTNERSHIP ACTIVITIESAMA's goal of forging partnership relationships with our key customers continued in 1996. We brought value to our customers by helping them identify and address the performance issues that are critical to their long-term business success. Together, AMA's organizational development specialists and instructional designers build customized solutions that help our customers reach their business goals.

AMA also serves as strategic orchestrator of the partnership process. We act as a catalyst to bring people and resources together to ensure the highest-quality training solutions for our customers.

Additionally, AMA wants to be a long-term ally to our partners. Our approach is based on developing a win-win relationship for AMA and our customers. Examples of partnership agreements inked in 1996 between AMA and North American customer organizations include:.

* Team-building for superstars. A prestigious nonprofit institution attracted management from many different walks of life, including politics, Wall Street and academia. The challenge was to bring these superstars together to work as a team. AMA's first step involved implementing a multi-rater assessment system. We then helped them design training and education for all levels of the organization, from senior management to support people. AMA created customized seminars for these highly sophisticated participants, and carefully selected trainers to deliver the modules both at headquarters and in the field.

* Preparing two giants for partnership. After going through a strategic planning process, it became clear to a major building-products company that it had to concentrate on manufacturing and sales and marketing as well as outsourcing its warehousing and distribution operations. To do this, it partnered with a worldwide leader in logistics. They turned to AMA to bring two diverse workforces together to work as a unified team. Our charge was to ensure that the partnership was supported by training that was strategic, practical and integrated. AMA, in close collaboration with the two partners, is currently delivering training in the areas of partnership strategy, customer service, manufacturing/inventory planning, and transportation and warehouse operations.

Management Centre Europe, our European arm, also is continuing to forge stronger partnership relationships with its customers. These partnership clients include many of the largest corporations within Europe as well as European subsidiaries of many U.S. and Japanese firms, and activities of the European Partnership Group grew by 30 percent in 1996.

TOP-MANAGEMENT AND MEMBERSHIP ACTIVITIESYour membership organization is making an increased contribution to executive business operations in the United States and around the world. Both domestic and overseas membership expanded this year, as well as the quality of the offerings we make available exclusively for AMA members.

Enrolled members within AMA-member companies receive bestselling AMACOM® books and twice-annual Management Briefings on topics of special interest. In 1996, these briefings were Beyond Customer Satisfaction to Customer Loyalty, authored by Keki Bhote, and Managing International Alliances: How Cultural Compatibility Supports Success. All members receive complimentary subscriptions to Management Review®, AMA's global business magazine, and the "Forum" newsletter in the functional area of their choice.

Every president and chief executive officer of an AMA-member company may enroll in AMA Presidents Association as a privilege of their organization's corporate membership. They receive complimentary subscriptions to the President® newsletter and AMA's quarterly journal Organizational Dynamics and access to AMA as a total management-development resource. Senior executive members are invited to CEO Roundtables and Presidents Breakfasts. This year, top-management meetings featured topics as timely as:.

* Creating the Customer- Centered Organization; * Be First, Be Exceptional: The Keys to Competitive Advantage; * The Strategic Use of Technological Innovation; and * Strategic Vision and Customer Focus.

Dr. R. Roosevelt Thomas Jr., the AMACOM author and highly respected expert on diversity, delivered a number of very well-received programs on the subject. Other member briefings of special interest included:.

* Using Multi-rater Assessment Systems; * Life and Work: A Manager's Search for Meaning; and * Managing Large-scale Organizational Change: A Boeing Case Study.

Nine member briefings held in Asia and the Pacific Rim drew a combined total of more than 1,200 participants. Domenico Fanelli, president of AMA International®, spoke in Bangkok, Manila and Seoul on The Role of Leadership in Management, and David Fagiano, president and CEO of AMA, addressed Finding the Right Balance in Times of Change: A CEO Perspective at briefings in Hong Kong, Singapore and Taipei.

As part of the Membership Department's continuing goal of "members teaching members," senior executives from AMA-member companies are frequently asked to speak at top-management meetings and breakfast programs. In 1996, senior executives from AT&T, Eastman Kodak, Johnson & Johnson, Saturn, Siemens and Volvo were featured speakers.

In addition, Kenneth Johnson, corporate vice president and controller of Motorola, addressed 40 CFOs at a morning roundtable on How Motorola Closes Its Books in Two Days. Tadeo Taguchi, advisor and former president, North America Toshiba Corp., was a panelist in a manufacturing roundtable on Secrets of Success in the Global Marketplace.

COUNCILSAmerican Management Association has three separate kinds of advisory Councils, each comprising senior executives from all business sectors who meet twice annually to address topics of interest in freewheeling, off-the-record round-table discussions.

A total of 43 council meetings were held in 1996, involving more than 1,000 council members.

* The AMA National Councils are made up of top executives from specific functional areas from the United States and abroad who discuss management issues at a global/macro level.

* Training Councils are made up of the training directors of AMA-member companies in a given geographical region or city who come together to discuss issues of prime concern and who provide AMA with an opportunity to meet on a regular basis with these important customers. In October, the first-ever joint Training Council met in Phoenix, giving these training directors the rare opportunity to meet in a conference-style setting and share concerns and cutting-edge concepts with their peers.

* Regional Councils are made up of senior executives of midsize organizations in a particular regional area, and they keep AMA in touch with pertinent management issues in their specific market. The number of these councils continues to grow as an outreach to our members in the United States.

To support AMA's global growth, more non-U.S.-based organizations now participate on all the National Councils, and we have formed a Canadian Human Resources Council, made up of senior HR executives based in Canada.

RESEARCH REPORTSIn addition to its signature annual surveys on corporate downsizing and workplace testing, AMA Research Reports published studies in 1996 on business communications, disability claims and outsourcing.

The Research office, in an expansion of its survey-by-fax project, polled AMA members on topics including performance-appraisal systems, Internet usage and sexual-harassment policies and incidents. A biweekly political-preference poll was conducted in the run-up to the 1996 elections, with results published in Investor's Business Daily; other surveys-by-fax were performed on behalf of the Wall Street Journal and the Washington Post.

AMA's Director of Management Studies Eric Rolfe Greenberg presented survey findings in media forums and to national conferences, and he made his second appearance on Capitol Hill when he delivered the results of the AMA 10th Annual Downsizing Survey to the Congressional Task Force on Manufacturing. Keynoters included Andrea Arcenaux, former CNN co-anchor; Bob Johanson, co-author of Upsizing the Individual in the Downsized Organization; and Jack L. Groppel, the sports science expert.

* MCE Knowledge Challenge Conferences. Staying on top of the latest trends in organizational thinking, MCE ran two conferences in 1996 on knowlege transfer within organizations. Combined, these two events attracted more than 150 executives and organizational-development professionals to learn how their business could create, capture and harness the knowledge within their organizations.

* Satellite conferences. In October, Peter Drucker and strategic-visioning guru Michael Kami headlined a live, three-hour satellite event broadcast to more than 100 business sites in the United States and Europe. The program, titled "The Leadership Edge," included panel discussions with top executives and a live question-and-answer session between the audience and speakers via an 800 number and fax.

AMA's interactive broadcast on front-desk security won the 1996 Industry Achievement Award in the Educational Programming/Distance Learning category from the International Teleconferencing Association (ITCA). The broadcast, which featured former White House Secret Service agent Robert Burke, drew 1,250 participants nationwide.

These events were part of 10 satellite conferences hosted by AMA in 1996, including the popular "Secretaries' Briefing," offered annually on National Secretaries Day in April, and the "Multicultural Forum," which highlights issues dealing with diversity in the workplace.

STUDENT ACTIVITIESOPERATION ENTERPRISE®continued to serve an even greater number of high-school and college students this year. One of the unique aspects of AMA's youth-development program is the business acumen of its course leaders, who range from the CEO level to front-line supervisors. Under their tutelage, OE students learn the practical side of management, which helps them put into better focus the academic skills they learn in the classroom.

Operation Enterprise, which has a long history of working with Junior Achievement and Future Business Leaders of America, this year was chosen by the U.S. Postal Service to deliver a special, seven-day mentoring program in Washington, D.C., designed to build strong management and leadership skills. The pilot project created an interactive environment for inner-city youth to learn sound management practices and to develop business skills.

LEARNING TOOLSAMA's library of learning aids--including books, newsletters and journals--has been augmented in recent years by CD-ROMs, software programs and Web access.

ELECTRONIC PRESENCEThe AMA Web site (http://www.amanet.org) is up and running, giving AMA an entry into this global and electronic marketplace. Our site is designed to help new customers learn what AMA has to offer and to help current customers access our services in this new format. Visitors to the AMA site will be able to browse and research a wide variety of information about our products and services.

More important, via the Web, customer service is now available around the clock to our customers throughout the world. Well over 100 requests for information per week are received electronically and handled by our on-line customer-service reps in Saranac Lake, N.Y. The number of monthly "hits" to our Web site is steadily increasing, and we will begin tracking this more carefully during 1997.

Late in the year, the site was redesigned to be more visually appealing, easier to navigate, and to reflect AMA's global image in the electronic marketplace.

Management Centre Europe has also set up a Web site (http://www.mce.be) that provides a catalog of MCE programming and information about European conferences as well as links to other sites.

Features of the AMA site include:.

* Seminar keynotes and AMA Research Reports. News reports based on the keynote speeches at top AMA conferences and AMA Research Reports are available to a worldwide audience.

* Real-time product information. The AMA site features in-depth descriptions of top-selling seminar products, AMA conferences, selected AMACOM books, self-study and CD-ROM products, giving customers the ability to research and easily order these products. Additionally, top-selling seminars are listed on two third-party training provider Web sites, and the response to these marketing efforts has been extraordinary.

* AMANet News. Selected articles from AMA's library of periodicals are pulled together to create an on-line newsletter that is updated on a monthly basis.

Plans are also under way to set up a library of information on all business and management topics, and to create an AMA community on-line using both electronic bulletin boards and chat rooms so that AMA members and customers can share information and learn from one another.

BOOKSAMACOM, the book-publishing division of AMA, published 70 business books in 1996. Among the top sellers were:.

* AIMING HIGHER: 25 Stories of How Companies Prosper by Combining Sound Management and Social Vision by David Bollier for The Business Enterprise Trust, a nonprofit organization committed to fostering corporate ethics and social responsibility.

* CYBERCORP: The Next Giant Step in the Evolution of Business by James Martin, a world-class authority on the social and commercial ramifications of computers.

* THE COMPUTER DESKTOP ENCYCLOPEDIA by Alan Freedman, president of the Computer Language Co., an organization devoted to computer education and training for business- and nontechnical people.

* REDEFINING DIVERSITY by R. Roosevelt Thomas Jr., founder and president of The American Institute for Managing Diversity Inc., and one of America's most respected authorities on diversity issues.

* COACHING KNOCK-YOUR-SOCKS-OFF SERVICE by Kristin Anderson and Ron Zemke, the latest in AMACOM's bestselling series of customer-service books.

This year, AMACOM conducted a comprehensive survey of direct customers, domestic and international reselling customers, and the media representatives who influence them (including reviewers). AMACOM received high marks for the practicality of our books, as well as for the solid credentials of our authors and the proven techniques and comprehensive coverage that are characteristic of our titles.

For the fifth year in a row, AMACOM has taken first place among business-book publishers by having four titles selected for Soundview Executive Book Summaries' list of the 30 Best Business Books of the Year. We also enjoyed 40 book club selections, including eight prestigious "main" selections.

AMACOM has enjoyed continued expansion of its review and media coverage. Our authors are frequently sought out by the press for their expertise on such hot business issues as diversity in the workplace, downsizing and crisis management, and are staples on TV and radio shows across the country. They are also beginning to appear on Internet sites, offering advice from business operations to career management.

SELF-PACED LEARNINGIn its second year of operation, the AMA Interactive Series of CD-ROMs doubled revenue over its start-up year. These CD-ROM programs provide training for the individual and corporate markets. In response to customer research, the second generation of product released this year was designed with a new interface and more sophisticated production values. The business area also expanded in the site-licensing market, and plans are under way to further expand into the PC network market in 1997.

Currently, 11 titles are available. New 1996 products are:.

* Planning Strategies;* Championship Teams;* Planning Cash Flow;.

How to Supervise in Today's Workplace;.

* Critical Thinking; and * Step Up to ConsultativeSelling.

The AMA Training Products Division, based in Boston, is moving aggressively to grow self-paced learning (SPL) products and services for the corporate market in such a way that they can be used alone or in conjunction with other AMA products and services.

PERIODICALSAMA Periodicals' customers are increasingly looking for "instant" information to help them with a business problem when they need it. To help provide this information, late in the year Periodicals launched AMANet News, a free on-line monthly newsletter that can be found on AMA's Web site. Thus, for the first time, AMANet News culls the best from all of AMA's publications and delivers the information straight to our customers' work sites.

Significant growth in our rights income is proof of the increasing interest in providing information quickly and often in electronic formats. This growth is primarily being driven by increasing interest in electronic rights both for on-line and CD-ROM use of our material. Articles originally published in AMA periodicals can now be found on a number of third-party corporate Web sites.

As a reflection of the enormous changes in the job of the first-line manager, AMA Periodicals redirected and retitled its newsletter for this market, with Supervisory Management® becoming Getting Results...®. Each issue of Getting Results... shows readers the workable solutions to today's management problems and identifies what are just new buzzwords or passing fads.

In addition to our membership-fulfillment publications, AMA's core subscription periodicals are:.

* Compensation & Benefits Review® (CBR)--AMA's journal for compensation and business professionals this year published AMA's Salary Survey Guidebook. In addition, the Information Network Exchange operates by both fax and e-mail to keep CBR readers abreast of changes in the field.

* HRfocus®--AMA's newsletter for human resources professionals began publishing special theme issues this year. The first of what will be a quarterly feature ran in November, and covered the technological changes that determine how HR professionals do their jobs.

* Organizational Dynamics--AMA's quarterly review of organizational behavior celebrated its 25th anniversary this year with a special "all star" issue that included contributions by Warren Bennis, Charles Handy, Tom Peters, Noel Tichy, Henry Mintzberg and Jeffrey Pfeffer.

* The Take-Charge Assistant--AMA's strength in the secretarial market and the impact technology continues to have on these jobs have created an audience hungry for information from AMA. This has helped us continue to build circulation, which almost doubled during 1996.

GLOBAL EXPANSIONOur international growth is designed to establish an effective and viable AMA presence in each of the key countries and regions of the world to serve the local management community as well as AMA members worldwide. Key to our goal is for AMA to be globally recognized as a value leader and to become the dominant provider of seminars worldwide.

AMA's globalization process includes the need to ensure that all of our seminars, wherever they are delivered, stress the same basic learning objectives. This standardization of purpose, now under way, will guarantee that all AMA participants will share the same high-quality learning experiences whenever they take one of our courses, whether in China or California. Another challenge worldwide is to develop seminar leaders who can deliver AMA training in the local language. To expedite this, the global centers are promoting "train the trainer" programs.

ASIA-PACIFICThe goal to have AMA established throughout the region by the end of 1996 was achieved. Meanwhile, operating results have been on budget during the period. Much of the growth is being accomplished via partnerships with local management organizations, although AMA has its own center in Tokyo and a joint venture located in Shanghai.

* JAPAN. Our wholly owned facility, the AMA International Management Center, was inaugurated in 1994 and, after an initial start-up phase, is now focusing on developing customized in-company programs. Public programs, delivered in both Japanese and English, have also done well. Budget objectives for 1996 have been met, and this center is the keystone to AMA's operations throughout the Asia-Pacific region.

* CHINA. Our Shanghai operation, under the name The Asia-Pacific.

Management Institute, is in its first full year of operation. In March the first public seminars were delivered in Chinese, and they were: Managing People; Marketing Basics; Principles of Professional Selling; and Negotiating Skills. Participants came mainly from major joint-venture companies in China, and the speakers were from Taiwan. The center also plans to deliver in-company training. The first 10 AMACOM books translated into Chinese proved so popular that we are in the process of translating an additional 10.

* TAIWAN. Our partnership in Taiwan with Interserv International, which dates from 1990, marked AMA's entry into the Pacific region. The center has developed training for the local region and was of great assistance in building our entry into China.

* SINGAPORE AND MALAYSIA. Our debut program, with our partner, Learning Edge International, highlighted change consultant Michael Kami and ran in April.

* INDONESIA. AMA has signed an agreement with LPPM (Lembaga Pendidikan dan Peminaan Manajemen) to develop joint activities. Michael Kami launched operations in the spring, and in October, a week of activities officially started the program.

NORTH AND SOUTH AMERICAAMA is also expanding its reach throughout the Americas:.

* CANADA. The Canadian Management Centre (CMC) enjoyed a successful 1996, offering an expanded number of seminar programs to a growing number of participants. Core seminars continued to meet customer needs for quality and practical training while many new programs were introduced. These included:.

* How to Write a Business Plan; * High Performance Business Writing; * Customer Value Management; and * Managing Emotions in the Workplace.

CMC also brought its programs closer to our customers by running more sessions in communities all across Canada. The first Resort Week was held in August in Whistler, B.C. Participants were involved in a variety of learning programs amid the mountain setting of one of Canada's premier resorts.

* PUERTO RICO. In 1996 we debuted public seminars in Puerto Rico delivered in Spanish. While prior seminars have been held there and delivered in English, Inventory Management and Control Techniques (Técnicas de Control y Administración de Inventarios) was the first program offered entirely in Spanish.

* MEXICO. In December, Management Center de México (MCM) celebrated its 30th anniversary with 300 business guests and members in attendance. The reception also culminated a profitable year despite the current Mexican economy, a year in which MCM sustained its position as the No. 1 provider of training and development in the country.

* ARGENTINA. AMA's newest center is in operation in Buenos Aires. Although the center will not officially open until March of 1997, work is under way to hire staff and lease space as well as plan programming. The first Latin American HR Conference was held in Buenos Aires in April, attracting 150 participants, and the center plans to concentrate on public seminars delivered in both Spanish and English as well as well as self-study and in-company programs.

EUROPE, THE MIDDLE EAST AND AFRICAAMA has had a facility in Europe since Management Centre Europe opened in 1961.

* MANAGEMENT CENTRE EUROPE (MCE), AMA's European arm, moved rapidly in 1996 to solidify its position as the premier international management development institution in Europe. Despite increased competition in the conference business and the rapid expansion of university executive education programs, MCE welcomed an additional 300 executives from across Europe, the Middle East and Turkey into its courses and conferences during 1996. Management Centre Europe also ran 26 conferences ranging from specific industry events to major international events for senior executives.

In order to stay on top of the needs of our customers, MCE employed a new customer evaluation form. This feedback form has allowed us to receive more specific customer input about every detail of our programs. Based on customer comments, we have launched major initiatives in new product development, learning design methods, and faculty training and recruitment.

Our first measure on how well we are meeting customer needs came after the first six months of customer reports when our levels of customer satisfaction rose from 72 percent to almost 80 percent by the end of 1996. We are pleased by this improvement, but know that we can never be satisfied.

Because our customers have requested them, we now offer programs in an increased number of cities throughout Europe. In 1996, we added Barcelona, Copenhagen, Dublin, Frankfurt and Stockholm to the list of locations where we now run our most popular offerings. Among the most successful seminars launched in 1996 were:.

* Managing Remote Teams; * Project Management for Engineers; and * Economic Value-added.

* MIDDLE EAST AND TURKEY. This year marked a record number of registrations, up 12.5 percent over 1995, due in large part to increased marketing activities as well as our strong reputation in the area.

* SOUTH AFRICA. AMA's partnership with the Damelin Management School was kicked off in October with a Top Management Event titled: A South African Perspective: How to Operate Profitably and Successfully in the Global Economy. The conference, keynoted by Henry Kissinger and Secretary General Cyril Ramaphosa of the African National Congress, was topical, well-structured and provided a good overall picture of the business climate in South Africa today.

ASIAN SUBCONTINENTAMA's toehold in Pakistan, which began in 1995, has been strengthened and supplemented with activities in India.

* PAKISTAN. Our center in Islamabad, now in its first full year of operation, debuted in March with an inaugural program headlined by change consultant Michael Kami. A full range of public and in-company meetings have been offered since then, with programming available in Lahore and Karachi as well as in Islamabad.

* INDIA. A letter of agreement has been signed with the All-India Management Association to develop joint seminars in India and abroad, and to sell other AMA products. A successful first seminar on international joint ventures ran in Delhi and Bombay in May and was followed by an international financing seminar in October.

PUBLIC SEMINARSOur new centers in New York and Islamabad, which join the state-of-the-art facilities in Brussels, Toronto and San Francisco that debuted in the past few years, provide AMA with the opportunity to integrate the most current tools and techniques available for seminar delivery into our programming. Using the latest presentation equipment, software, CD-ROM and videos, combined with the facilitation skills of our course leaders, AMA provides participants with a unique interactive and multimedia mix in their learning experience.

The Center for Management Development® (CMD), the AMA in-depth seminar division, held almost 3,000 seminar meetings, resulting in record revenues that were the highest in the division's history and marked a 12 percent increase over 1995's total.

The most popular of the 200-plus seminars CMD currently offers to the business community include:.

* Basic Project Management; * Fundamentals of Finance and Accounting for Nonfinancial Executives; * Improving Managerial Skills of the New or Prospective Manager; and * Management Skills and Techniques for New Supervisors.

More than 30 new seminars were introduced during 1996, representing the latest trends and techniques in today's business world. Among the most successful are:.

* Conflict Resolution; * Economic Value-added; * Managing the Training Function; and * Purchasing Cards.

CMD also broke ground on two strategic alliances in 1996. A one-day seminar program is being planned in conjunction with the NFL Team Building Seminars. Among those scheduled to speak at this landmark event are former NFL players and coaches including Ronnie Lott, Joe Gibbs, Roger Staubach and Chuck Noll. CMD has also joined forces with Royal Caribbean Cruise Lines to conduct two seminars aboard a luxury cruise ship. For one competitive price, participants can combine their AMA learning experience with all the amenities of a Caribbean holiday.

AMA Kansas City continues to be a leading one-day seminar provider and the only one of its kind in North America to offer a broad variety of both general-interest subjects and technical topics. In 1996, AMA Kansas City introduced more than 70 new seminar offerings, including 28 one-day, 38 two-day and seven half-day seminars. Most popular of these new seminars included:.

* OSHA topics: How to Comply with OSHA; CAL/OSHA Compliance: A Step-by-Step Guide; and OSHA Compliance for the Warehouse.

* Human Resources topics: HR Update 1996; The Family-Friendly Workplace; and Performance-Based Pay.

* Internet and Computer topics: Research on the Internet; Working with Windows 95; and Microsoft Office 95.

* Management/Supervision topics: Managing Productive Meetings; Conflict Intervention for Managers; and The Manager's Guide to Effective Decision-Making.

* Sales topics: Seize the Sale: Closing Techniques that Pay Off; and Turning Cold Calls into Cash.

CONFERENCESAMA's conference activities draw businesspeople to events held around the globe:.

* MCE Top Management Forum, which is held in London each June, drew 175 participants. It was keynoted by Baroness Margaret Thatcher, and highlighted speakers Mort Myerson of EDS; Richard Teerlink, CEO of Harley-Davidson; and Orit Gadiesh, chairman of the board of Bain & Co.

* AMA's 67th Annual Human Resources Conference and Exposition, held in Las Vagas in May, was once again a top event in the HR field. Over four days, close to 3,000 professionals--attracted by the theme "Center of Influence; Riding the New HR Wave"--attended the more than 100 concurrent sessions, discussion groups and special events. This year's keynote speakers were R. Roosevelt Thomas Jr., founder and president of The American Institute for Managing Diversity Inc. at Morehouse College, and author of the AMACOM bestseller Beyond Race and Gender; Gail Sheehy, author of Passages; and William Bridges, author of Job Shift.

* The 28th Annual MCE International Human Resources Conference, held in Monaco, drew 460 participants, the second-largest audience in its history. William Bridges--fresh from his appearance at the U.S. conference--Ricardo Semler of Brazil and author of Maverick; John Kotter of the Harvard Business School; and Nicholas Negroponte of MIT and author of Going Digital led an international group of 30 speakers who discussed the future of human resources.

* The First Latin American Human Resources Conference was held in Buenos Aires in April. The theme was "How to Align Human Resources with Your Business Strategy," and the program attracted 150 participants. International speakers were led by Jac Fitz-enz of the Saratoga Institute; Cabot Jaffee, CEO of Electronic Selection Systems Corp.; and Kate Owen, British Petroleum's director of organizational development and training.

* South African Top Management Forum was keynoted by statesman Henry Kissinger and Cyril Ramaphosa, secretary general of the African National Congress. The TMF, which was held in Johannesburg in October, attracted an audience of 113 senior executives, most of whom came from within South Africa.

* The Fourth Annual AMA Conference for Executive Secretaries and Administrative Assistants, held in Atlanta in October, drew a record-breaking crowd of more than 1,200 participants. They gathered for the dozens of sessions and special events that focused on the theme, "Striving to Win in the Changing Workplace.".

COUNCILSAmerican Management Association advisory Councils, each composed of approximately 30 executives in a specific functional management area, meet to discuss and debate problems, concerns and innovations in their areas of expertise. Over the years, these national Councils have proved invaluable in helping AMA track emerging business trends. The following business executives served the American Management Association as national Council chairs and members in 1996:.

FINANCE COUNCILMartin G. Mand, Chairman and President, Mand Associates Ltd. Council Chairman.

Robert E. Allgyer, Partner, Arthur Andersen.

Merlin L. Alper, Vice President and Deputy Controller, Madison Square Garden.

Thomas G. Amato, Senior Vice President and Chief Financial Officer, Symbol Technologies Inc.

John L. Barnes, Senior Vice President, Finance & Administration, Access Communications and Technologies Co., Inc.

Daniel J. Cacchio, Senior Vice President, Finance and Administration, Imperial Oil Ltd.

William J. Cernugel, Senior Vice President-Finance and Controller, Alberto-Culver Co.

Lawrence Chimerine, Ph.D., Managing Director and Chief Economist, Economic Strategy Institute.

Eric G. Dalrymple, Treasurer, Ernst & Young.

Henry L. Dykema, Vice President and Chief Financial Officer, Federal Signal.

David N. Hall, Senior Vice President and Chief Financial Officer, Eagle-Picher Industries.

Newt Hardie, Vice President, Financial Planning, Milliken & Co.

John W. Harper, Senior Vice President and Chief Financial Officer, USAir Inc.

Juanita H. Hinshaw, Vice President and Treasurer, Monsanto Company.

Frank R. Jarc, Chief Financial Officer Executive Vice President, Viking Office Products.

Kenneth J. Johnson, Senior Corporate Vice President, Controller and Director of Internal Audit, Motorola Inc.

George MacKenzie, Chief Financial Officer, Hercules Inc.

Thomas F. McBride, Senior Vice President and Chief Financial Officer, Ingersoll-Rand Co.

Gary A. McCue, Vice President, Strategic Value Development, Avery Dennison Corp.

Stephen W. Nagy.

William E. Nettles, Vice President and Chief Financial Officer, Engelhard Corp.

John C. Psaltis.

Robert H. Ried, President, Ried, Thunberg & Co. Inc.

W. Russell Scott Jr., President and Chief Executive Officer, First Financial Trust, NA.

John Stack, Vice President-Finance and Chief Financial Officer, Mineral Technologies Inc.

Martin F. Statler, Senior Vice President, Finance and Information Technology, Hoffman-La Roche Inc.

Joel H. Stewart, Managing Partner, Harrison Stewart & Co.

Hans G. Storr, Executive Vice President and Chief Financial Officer (retired), Philip Morris Cos. Inc.

Colson P. Turner, Vice President and Treasurer, NYNEX.

Allen H. Wahlburg, Vice President and Senior Consultant, Tecton Group Inc.

Martin E. Welch, III, Senior Vice President and Chief Financial Officer, Kmart.

Frederick W. Zuckerman, General Partner, Zuckerman, Firstenberg & Assoc. LLC.

GENERAL AND ADMINISTRATIVE SERVICESRichard J. Van Gemert, President Transportation Services, New World Jet Corp. Council Chairman.

Alan A. Andolsen, President, Naremco Services Inc.

Stan Aron, Vice President, Property Services, Darden Restaurants.

William W. Back, CFM, Facility Program Manager, Aguirre Inc.

William D. Baiocchi, Vice President/Chief Operating Officer, Lakewood Hospital.

James N. Barton, JNB Associates.

David C. Borck, Mail and Pressroom Services Manager, W. W. Grainger Inc.

Duane E. Bucklin, Project Leader, International Logistics, Steelcase Inc.

Robert R. Burke, Vice President Corporate Services/Security, Monsanto Co.

John G. Daniello, Senior Vice President, J P Morgan & Co., Morgan Guaranty Trust Co.

Joseph L. Dwyer Jr., Deputy Director, General Services, and Controller, U. S. General Accounting Office.

Gerald R. Ellis, Director, Xerox Services, Xerox Corp.

Linda A. Frietsch, Manager, West Coast Operations, Cisco Systems Inc.

Daniel A. Genovese, Director of Finance and Administration, Hughes Danbury Optical Systems Inc.

Matthew F. Gonzales, National Manager, New Business Practices, Toyota Motor Sales, U.S.A. Inc.

Valerie T. Held, Vice President, Corporate Administration, UST Inc.

James R. Jensen, Staff Vice President, Office Administration Services, 3M Co.

H. Russell Justice, Vice President, Facilities and Services, Walt Disney Co.

Michael G. Krupa, Manager of Administrative Services, American Funds Service Co.

Rosemarie A. Larry, Director-Administrative Services, The Quaker Oats Co.

Elizabeth A. Lopez, Operations Manager, Kemper National Insurance Cos.

Rick Lopez, Director-Facilities and Services, KCal-TV.

James S. Meyer, Regional Manager, Facilities and Services-Houston, Amoco Corp.

John P. O'Brien, Senior Associate, Princeton Gateway Associates Ltd.

Kenneth R. Pardue, President, Clubcorp. Purchasing & Design.

T. Michael Parker, Senior Director, Corporate Services and Facilities, S. C. Johnson Wax.

Richard A. Rizzolo, Administrative Director, Fitzpatrick & Waterman.

Stephen L. Rudof, Director, Environmental Affairs and Support Services, The Perkin-Elmer Corp.

J. Terry Simmons, Director, Administrative Services, McDonald's Corp.

Allen B. Udisky, Senior Vice President, Corporate Administration, Associates Corporation of North America.

Terry A. Walker-Wedell, Director, Corporate Administrative Services, Abbott Laboratories.

Harvey R. Warburton, General Manager, Corporate Services, Chrysler Corp.

Leon P. Washut, Executive Director, Human Resources, Merck & Co. Inc.

Bruce L. Windedahl, Manager, Financial Control and Administration, Kraft Foods Inc.

Mee F. Wing, Director, U.S. and Canada Real Estate Services, Eastman Kodak Co.

George R. Wright, Vice President-Corporate Services, Compass Group USA Inc.

GENERAL MANAGEMENT COUNCILG. Lee Thompson, Chairman and Chief Executive Officer, Mackenzie-Thompson Associates Council Chairman.

Russell Banks.

Dan R. Bannister, President and Chief Executive Officer, DynCorp.

John M. Belk, Chairman of the Board, Belk Stores Services Inc.

Charles A. Bowsher, Comptroller General of the United States.

Robert E. Brooker Jr.

Paul N. Carlin, Chairman, CJ Holdings Inc.

Gordon E. M. Cummings, Chief Executive Officer, Alberta Pool.

R. Keith Elliott, President and Chief Operating Officer, Hercules Inc.

Gordon J. Feeney, Vice Chairman, Royal Bank of Canada.

Rowland Fleming, President and Chief Executive Officer, The Toronto Exchange.

Herman J. Fonteyne, President and Chief Executive Officer, Ensign-Bickford Industries Inc.

Kenneth J. Gorman, Chairman and Chief Executive Officer, Atlantic Mutual Companies.

G. Wayne Hawk, Chairman, Falcon Aire.

Leonard G. Herring, President, Lowe's Cos.

William E. Hess, President, Senco Products Inc.

Leonard R. Jaskol, Chairman and Chief Executive Officer, Lydall Inc.

Linda McFarland Jenkins, President and Chief Operating Officer, The Cato Corp.

Norman T. Jones, Chief Executive Officer, GROWMARK Inc.

Scott C. Lea, Chairman of the Board, Lance Inc.

Don E. Marsh, President and Chief Executive Officer, Marsh Supermarkets Inc.

Pete Mateja, President, Automotive Parts Manufacturers' Association.

Richard L. Molen, President and Chief Operating Officer, Huffy Corp.

Lawrence E. Newhart, President and Chairman, Day & Zimmermann Intl. Inc.

Robert J. Niehaus.

Alfred A. Piergallini, Chairman of the Board, President and Chief Executive Officer, Gerber Products Co.

Dietrich Schmidt, President, Petroseed Co. Inc.

Orin R. Smith, President and Chief Executive Officer, Engelhard Corp.

Richard Snell, Chairman of the Board and President, Pinnacle West Capital Corp.

Paul Vornle.

GENERAL MANAGEMENT COUNCIL FOR GROWING ORGANIZATIONSJohn W. Lettmann, President and Chief Executive Officer, Malt-O-Meal Co. Council Chairman.

James Alexiou, Chairman, Irvine Sensors Corp.

Channing L. Bete Jr., President, Channing L. Bete Co. Inc.

Richard W. Burcik, General Manager, Girard Estate.

Robert P. Burrows III, President, Intrinsics International Inc.

Philip M. Clemens, President and Chief Executive Officer, National Plastics Corp.

L. Patrick Deering, Chairman of the Board, Riggs, Counselman, Michaels & Downes Inc.

Warde H. Dixon, Principal, The Dixon Group.

Sylvio L. Dupuis, O.D., Executive Director, McLane, Graf, Raulerson & Middleton.

Judie N. Eakins, President, Omega Studios Inc.

Donald Ercole, Tax Partner, Ernst & Young.

Joe E. Green, Chairman and Chief Executive Officer, PPS Inc.

Raymond W. Harmon, Chairman of the Board, Hasco International Inc.

James P. Henson, President, Flexible Products Co.

Jeffrey D. Hester, President and Chief Executive Officer, Pierce Foods.

Peggy Hofman, Chief Executive Officer, Fluke Capital Management Services LP.

Duane b. Hopper, President and Chief Operating Officer, Graphic Controls Corp.

Olin V. Hyde, President, Sealeze Corp.

Kenneth W. Kaufman, Chairman and Chief Executive Officer, Contact Electro Parts Inc.

Gary L. Martin, President, The Whitmore Manufacturing Co.

Carolyn A. Martini, President and Chief Executive Officer, Louis M. Martini Winery.

Philip T. Mercer, President, Thulman Eastern.

Patricia R. Miller, Co-owner, Vera Bradley.

Thomas R. Oliver, President and Chief Executive Officer, Audio Fax Inc.

James B. Orders Jr., Chairman and Chief Executive Officer, Park Place Corp.

Lee T. Palmer, The Hearthstone Group.

Nicholas J. Savaiano, President, United Laboratories Inc.

Karla Scherer, Chairman, The Karla Scherer Foundation.

Warren L. Serenbetz, President and Chief Executive Officer, Radcliff Group Inc.

Herb Singer, President and Founder, Discount Car and Truck Rentals Ltd.

S. Duane Southerland, President & Chief Executive Officer, Conso Products Co.

Terrance W. Spencer, Cal-Compack Foods.

Hubert D. Vos, President, Stonington Capital Corp.

Bruce A. Walker, Chairman of Board and President, Merrick Engineers & Architects.

Robert E. Yellin, Chairman and Chief Executive Officer, California Suppression Systems.

HUMAN RESOURCES COUNCILFrank Calamita, Senior Vice President, Global Human Resources and Administration, Sony Music Entertainment Inc. Council Chairman.

S. Tyrone Alexander, Senior Vice President, Human Resources, CIGNA Healthcare.

Edward C. Archer, Vice President, Client Services, Pearl Meyer & Partners Inc.

Peter F. Archer, Director, Middle East and Africa, BT (Worldwide) Ltd.

Leo R. Armatis, Vice President; Corporate Relations, Meredith Corp.

Sally Basso, Vice President of Human Resources, CSX Transportation.

James R. Bavis, Vice President, Corporate Employee Relations, Sprint.

Robert J. Beatty, Vice President, Human Resources and Organizational Development, Hoechst Celanese Corp.

Gail M. Bohdan, Vice President, Human Resources, Neutrogena.

Didi E. Bowditch, Human Resources Manger, Dupont Printing and Publishing, E. I. du Pont de Nemours & Co.

Dr. Laurie A. Broedling, Senior Vice President, Human Resources and Quality, McDonnell Douglas Corp.

Bob G. Brown, Vice President, Employee Resources, Pfizer Inc.

James D. Bucci, Group Vice President, Human Resources, First Citizens Bank.

William T. Christensen, Vice President, Global Compensation and Benefits, Avon Products Inc.

Elizabeth D. Conklyn, Ph.D.

George E. Davis, Senior Vice President of Human Resources, Lincoln National Corp.

Shirley H. Farrell, Manager, Human Resources, Hercules Inc.

Jack C. Foss, Human Resource Manager, Allstate Insurance, AEI Group Inc.

Adin C. Goldberg, Esq., Epstein Becker & Green P.C.

Ray A. Killian, President, Capstone Enterprises.

Diane B. Kirik, Vice President, Alliances & Ventures Internal Development, MCI Communications Corp.

James F. Kisela, Senior Vice President, Human Resources, QVC Inc.

Ronald A. Kitlas, Vice President, Human Resources, Edison Properties LLC.

Robert C. Machin, Senior Vice President, Human Resources, Rhone-Poulenc Inc.

Don R. Martin, Vice President, Human Resources, Ball Aerospace & Technologies Corp.

Teresa E. McCaslin, Corporate Vice President, Chief Learning Officer, Monsanto Co.

Edwin S. Mruk, Senior Partner, Mruk & EMA Parners International.

Sally Newton, Vice President and Manager, Human Resources, Kaiser Permanente.

Ronald L. Norsworthy, Vice President of Human Resources, Stanley Tools North America.

Peter Pesce, Managing Partner, Human Resources, Andersen Worldwide.

Roderick D. Purdy, Senior Vice President, Human Resources, Prudential HealthCare Group.

B. Scott Rich, Director of Human Resources, Flowers Industries Inc.

William N. Setterstrom, Senior Vice President, Human Resources, The Northern Trust Co.

Joan F. Showalter, Senior Vice President, Human Resources, CBS Inc.

Michael Z. Sincoff, Ph.D. John T. Sloan, Vice President, Human Resources, Mall Stores Organization, Sears Roebuck and Co.

J. Thomas Van Berkem, Senior Vice President, Human Resources, ADVO Inc.

Donald F. Van Eynde, Ph.D., Professor of Management, Chair, Department of Business Administration, Trinity University.

INFORMATION SYSTEMS AND TECHNOLOGY COUNCILCarl Chanson Williams, Vice President, Information Technology, Amoco Corp. Council Chairman.

Thomas J. Barrett, Director, Information Services Division, Bemis Co. Inc.

James L. Benton, Director, Management Information Services, Philips Electronics North America Corp.

Laurance T. Burden, Vice President, Mortgage Industry Program Mgr., American Management Systems Inc.

Eugene L. Cliett Jr., Vice President, Fiscal Affairs, Lincoln University.

William D. Connor, President, Vista 2000.

Esther M. Delurgio, Vice President, Information Systems, Mitsubishi Motor Sales of America.

Michael H. Falink, Director, Information Systems, Honeywell Inc.

Joseph M. Feliu, Senior Director, Corp. Info. Systems and Technology, Applied Materials Inc.

Michael K. Forbes, Director, Information Systems, Volvo Cars of North America Inc.

Thomas R. Gaughan, Vice President, Chelsea Strategic Systems.

Leo J. Heile.

Gary L. Henkel, Vice President, Applications Development and Telecommunications, Time Customer Service Inc.

Donald R. Hollis, President, DRH Strategic Consulting Inc.

Steve A. Hudson, Vice President, Technology Strategy, Freddie Mac.

Donato A. Infante Jr., Principal Consultant, EDS.

Michael L. Jones, Chief Information Officer, Children's Hospital of Wisconsin.

John P. Kallelis, Vice President, Information Technology, Aramark Corp.

Terry S. Kees, Director, Information Technology, Central Intelligence Agency.

Kailash C. Khanna, Head of IT, Operations and Support, S.W.I.F.T.

Anil Kripalani, Vice President, Qualcomm Inc.

Norbert J. Kubilus, Kubilus Ferri & Associates.

Herbert N. McCauley, Vice President, Information Management, Harris Corp.

Scott D. McGill, Director, Administrative Information Services, Michigan State University.

Robert M. Rubin, Vice President, Information Services, Elf Atochem North America Inc.

Jesse E. Russell, Chief Wireless Architect, AT&T Bell Laboratories.

Harvey R. Shrednick, Research Director and Professor, Information Management, Dept. of Computer Information Systems, Arizona State University.

Patricia C. Skarulis, Vice President and Chief Information Officer, Rush Presbyterian St. Luke's Medical Center.

Norman W. Smith, System Vice President of Information Strategies and Services, Henry Ford Health System.

Alfred J. Sturzione, ISSC Director, Systems Delivery, Integrated Systems Solutions Corp.

James F. Sutter, Vice President and General Manager, Rockwell Information Systems, Rockwell International Corp.

Bruce A. Turkstra, Chief Information Officer, Andersen Worldwide.

Daniel J. Vantucci, Vice President and Chief Information Officer, ITT Fluid Technology Corp.

William M. Vetter, Manager, Bureau of Communications and Computer Services, Illinois Department of Central Management Services.

Richard C. Weber.

INSURANCE AND RISK MANAGEMENT COUNCILLawrence I. Geneen, Executive Vice President and Managing Principal, Johnson & Higgins Council Chairman.

Barbara M. Babiak, Treasury Director, Risk Management, AT&T.

Stephen E. Baney, Director, Risk Management, Harsco Corp.

Mary Lynn L. Bangs, ARM, Director of Risk Management, Wyndham Hotels and Resorts.

Thomas M. Basil.

Kevin J. Christel, Director, Corporate Insurance, Travellers Group.

James J. Conerty, Manager of Risk and Insurance Management, IBM Corp.

Carla A. D'Andre, CPCU, ARM, Senior Vice President, Swiss Re Atrium Corp.

Robert M. DeBoer, Senior Vice President, Willcox Inc.

John W. Dondanville, Senior Partner, Litigation, Baker & McKenzie.

Frank L. Eblen, CPCU, ARM, Account Executive, IRMC Inc. (Insurance Risk Management Consultants).

Merritt W. Fabel, CLU, ARM, Director of Corporate Risk and Insurance, American International Group Inc.

Dr. Joseph A. Fields, Associate Professor of Finance, Department of Finance, School of Business and Administration, University of Connecticut.

Raymond Gilbert, Chairman and Chief Executive Officer, BEP International.

Terry A. Grant, Senior Vice President, Alexsis Risk Management Services.

P. Richard Hackenburg, President and Chief Operating Officer, Advanced Risk Management Services, Willis Corroon.

Dennis P. Kane, President, CIGNA Special Risk Facilities.

John Kessock Jr., Chairman, Commonwealth Risk.

James Kroviak, CPCU, Managing Director, Marketing Connections.

Edward P. Lalley.

Linda H. Lamel.

Steven H. Lawrence, CPCU, ARM, Senior Consultant, Coopers & Lybrand.

Keith J. Lazarz, Vice President, The Northern Trust Co.

Kenneth J. LeStrange, President, AM-Re Managers Inc.

Charles L. Lorenz, Director of Risk Management, Talley Industries Inc.

William J. Loughan, Senior Vice President and Managing Director, CNA Risk Management Group.

Jerry A. Luttrell, Director of Risk Management, Philip Morris Management Corp.

Lawrence O. Monin, Partner, Ropers, Majeski, Kohn & Bentley.

Joel R. Myers, Chief Underwriting Officer, National Accounts, Zurich American Insurance.

Marilyn J. Needleman, Director of Risk Management, Dean Witter, Discover & Co.

Pamela J. Newman, Ph.D., Executive Vice President, Rollins Hudig Hall of New York Inc.

John P. Olsen, Attorney at Law.

Kenneth M. Padgett, Managing Director, Chairman, Marsh & McLennan FINPRO-U.S.

Vincent T. Papa, Chairman, Wm. H. McGee & Co. Inc.

Lorne H. Parker, Manager of Risk Management, Bechtel Group Inc.

Peter B. Prestley, Partner, Halloran & Sage.

Spencer J. Rankin, Staff Vice President, Risk Management & Insurance, Schering-Plough Corp.

Bradford W. Rich, Senior Vice President, General Counsel and Secretary, USAA.

John F. Riley, Director, Corporate Risk Management, The Dun & Bradstreet Corp.

Walter L. Robinson, Director, Risk Management and Loss Prevention, Pinkerton Security & Investigation Services.

Wilfred J. Romero, Vice President, SwissRe Financial Products Corp.

Cynthia R. Shoss, Partner, LeBoeuf, Lamb, Greene & MacRae.

Robert J. Smith Jr., President, Madison Insurance Co.

Charles T. Tagman Jr., Chairman, TPA Associates Inc.

Stanley C. Tait, Director, Risk Management, Americas, Cadbury Schweppes P.L.C.

Ellen Thrower, Ph.D., President, The College of Insurance.

Jack L. Toon, President, Snapp & Assocs. Insurance Services Inc.

George T. Van Gilder, Chairman, Risk Management Solutions Inc.

Peter G. Viscardi, Director, Risk Management and Environmental Affairs, American Brands Inc.

INTERNATIONAL COUNCILDavid K. Diebold, Counsel, Dechert Price & Rhoads Council Chairman.

Dr. Robert G. Aldrich, Chairman and Chief Executive Officer, Tailored Energy Inc.

Hubert H. Alleyne, Executive Director, The Royal Bank of Trinidad & Tobago Ltd.

Barbara Barrett, Esq., President, Triple Creek Guest Ranch.

Dr. Marc H. Battaille, President, International Public Affairs Centre.

Dr. Hans P. Belcsak, President, S. J. Rundt & Associates Inc.

Dr. Ruedi Boesch, Executive Vice President, Electrowatt Ltd.

Ingrid I. Boyd, President, Glahe International Inc.

Richard L. Carrion, President and Chief Executive Officer, Banco Popular de Puerto Rico.

Claude Cellich, Chief HR Development Section, Division of Trade Support Services, International Trade Centre-UNCTAD/GATT.

Robert F. Clark, President, Great Salt Lake Minerals Corp.

Lew W. Cramer, Vice President, US West Inc.

Michael R. Czinkota, Ph.D., Professor, School of Business Administration, Georgetown University.

Clyde E. Dickey, Partner and Senior Advisor, Arthur Andersen & Co. SC.

James E. Donegan, President, Sipex Corp.

James N. Farley, Chairman and Chief Executive Officer, SpeedFam International Inc.

Dr. David Findley, Director of Executive and Organisation Development, Glaxo Wellcome P.L.C.

Raemond F. German, Vice President, Mexican Operations, Whirlpool Corp.

Jay K. Hassan, Vice President, Technology, AMP Inc.

Bruce F. Henderson, Managing Partner, Manhattan Atlantic International.

Roy A. Herberger Jr., Ph.D., President, Thunderbird, American Graduate School of International Management.

Ondrej K. Landa, Ph.D., President, INVENTA Group.

Ambassador Jeffrey M. Lang, Deputy U.S. Trade Representative, Executive Office of the President.

Tony LeDinh, Vice President International, Landis & Gyr Inc.

Marjorie A. Lyles, Ph.D., Professor of Strategic Management, School of Business, Indiana University.

Rolf Mailahn, Executive Vice President and Chief Financial Officer, Siemens/Nixdorf Information Systems Inc.

Lawrence H. Meyer, Vice President and Chief Financial Officer, International Division, Toys 'R Us.

Diego Naranjo Meza, Consultant.

Dr. Ioanna T. Morfessis, President and Chief Executive Officer, Greater Phoenix Economic Council.

Robert K. Mueller, Director, Arthur D. Little Ltd.

Robert C. Musser.

Arno Nash, Chairman, Interman Industrial Products Ltd.

Donald R. Nicholson II, Senior Manager, Deloitte Touche Tohmatsu ILA Group Ltd.

Clyde V. Prestowitz Jr., Deputy Chairman, Pacific Basin Economic Council U.S., and President, Economic Strategy Institute, Pacific Basin Economic Council U.S.

Terry L. Prickett, President and Chief Executive Officer, InterDyn.

Harry Protopapas, Deputy General Manager, Macedonia Thrace Bank.

Joseph J. Robinson, President, International Management Advisory Services.

Steven R. Saunders, President, Saunders & Co.

Dr. Francoise L. Simon, Professor, Graduate School of Business, Columbia University.

Stephen A. Sind, President and Chief Executive Officer, Center for Exhibition Industry Research.

Dr. John L. Sprague, President, John L. Sprague Associates Inc.

Moshe Steingart, Chairman and Chief Executive Officer, Kardan Investments Ltd.

Thomas L. Tyler, Consultant, Shuttleworth Inc.

Rocus van Wingerde, Advisor to Akzo Nobel Fibers International.

Toon H. Woltman.

MANUFACTURING COUNCILFrank A. Papa, Senior Vice President, Kayser-Roth Corp. Council Chairman.

Frank A. Diekmann, President, BTR Instruments.

Sivert M. Drangeid, Director of Corporate Quality, Philips Lighting.

Angelo C. Farro, President, Deutsch Metal Components Division, The Deutsch Co.

James W. Feldhouse, Vice President, Operations, The S.K. Wellman Corp.

Ronald W. Frederick, President, Manufacturing, UNC Inc.

Robert Geiger, General Manager, Nashua Tape Products.

Howard E. Harper, Vice President, Paper Group, Mafcote Industries Inc.

William C. Hayes, President, Crane Resistoflex, One Quality Way.

Carl C. Hein, Vice President and General Manager, RJR Packaging.

Jerome P. Klisiewicz, Vice President, Transilwrap Co. Inc.

John J. Knappenberger, Vice President, Quality and Materials, Dura Automotive Systems Inc.

Henning Kornbrekke, President and General Manager, Stanley Hardware, The Stanley Works.

Thomas W. Lance, Vice President, Operations, Global, Vision Care, Bausch & Lomb.

Michael D. Lewis, Director, Worldwide Product Sourcing, Johnson & Johnson Medical Inc.

John D. Michaelides, Vice President, Chair Products, Acco Chain & Lifting Products.

Joe M. Nemmers Jr., Director of Materials Management, Pharmaceutical products Division, Abbott Laboratories.

Joseph A. Plunkett, General Manager, COI, Helene Curtis Inc.

Jerry Sorrow, Vice President, New Equipment Operations, Otis Elevator.

Carl W. Treleaven, Chairman and Chief Executive Officer, Pharmagraphics.

Richard F. Vincent, Vice President, Manufacturing Operations, Riviana Foods Inc.

Patricia O. Walcott, Plant Manager, M&M/Mars.

Louis C. Witt, General Manager, Manufacturing, Yamaha Corp. of America.

PURCHASING, TRANSPORTATION AND PHYSICAL DISTRIBUTION COUNCILDavid A. Riggs, First Vice President and Director, Sourcing, Mellon Bank Corp. Council Chairman.

Jerry G. Arthur, Vice President, Baxter Supplier Management, Baxter Healthcare Corp.

Thomas E. Brackhahn, CPM, Director, Corporate Purchasing, Tension Envelope Corp.

Ken Bradley, Vice President, Supply Management, Nortel.

R. H. Brotherton, General Manager, Purchasing and Materials Management, Chevron Services Co.

Thomas A. Brown, Vice President, Purchasing, Pfizer Inc.

Dr. David N. Burt, USD Recognition Professor of Supply Management, School of Business, University of San Diego.

Brian Christian, Director of Strategy and Planning for Global Procurement, Whirlpool Co.

Augustus L. Davis, Senior Director of Purchasing, Gryphon Development Inc.

Alan R. Eckert, First Vice President/Director Purchasing, Merrill Lynch.

Leonard J. Garrambone, Vice President, Corporate Sourcing, NYNEX.

Peggy Gerrity, Senior Manager, Procurement, Lotus Development Corp.

Roger A. Gregg, Director of Global Sourcing, E.I. du Pont de Nemours & Co.

Jeffrey S. Inselmann, Global Procurement Vice President, Lucent Technologies.

Russell I. Johnson, Vice President, Procurement, Moore Corp. Ltd.

Stephen J. Ketterer.

James A. Krueger, Vice President and Director, Materials Management, Corning Inc.

James K. Leach, Manager of Non-Resale Purchasing, J. C. Penney Co. Inc.

W. William Lindner, Vice President, Purchasing, Union Carbide Corp.

David F. Lynch, Senior Vice President, Field Services, Bank of America.

Fred H. McClintock, Vice President, Materials Management, AlliedSignal Inc.

Michael J. McElhone, President, Greenbrier Logistics Inc.

Paul Medvedo, Director, Corporate Sourcing and Logistics, Westinghouse Electric Corp.

Donald D. Meyer, Vice President, Industry Relations, Alliance Shippers Inc.

Alfred J. Mulvey, V.P., Global Sourcing and International Partnerships, United Technologies, Pratt & Whitney.

Cesar Penaherrera, Vice President of Purchasing, Honda of America Manufacturing Inc.

John L. Pion, Director of Purchasing and Export, Sony Electronics Inc.

Vincent J. Russo, Director of Purchasing, Uniroyal Chemical Co. Inc.

Joseph J. Schoen Jr., CPM, Manager, Supply Chain Optimization, BASF Corp.

Gary J. Sease, Sr. Vice President, Operations Services, American National Can.

Daryl I. Skaar, Staff Vice President, 3M Purchasing and Package Engineering.

John A. Smith, CPM, Corporate Purchasing Manager, Intermatic Inc.

Peter M. Sturtevant, Vice President, Asset Recycle Management, Xerox Corp.

Donald R. Tieken, CPM, Vice President, Purchasing and Logistics, Riverwood International Corp.

Michael D. Tofolo, Vice President, Logistics and Operations, Buena Vista Home Video, Walt Disney Studios.

Javier R. Urioste, Director, Worldwide Supplier Relations, IBM Worldwide Procurement.

Michael J. Valentini, Vice President, Corp. Support Services, Citibank, NA.

Paul E. Viko, CPM, Vice President, Purchasing, Hanover Direct Inc.

Gary D. White, Group Vice President, BMA.

Richard F. Whitney, CPM, Vice President and General Manager, Worldwide Distribution, Eastman Kodak Co.

Scott Williams, Director, Procurement, Public Service Electric and Gas Co.

Bobby V. Zachariah, CPM, Vice President, Purchasing and Materials Management, Tele-Communications Inc.

RESEARCH AND DEVELOPMENT COUNCILJohn McShefferty, Ph.D. Council Chairman.

Dr. Daniel Berg, Institute Professor, Rensselaer Polytechnic Institute.

Kathleen Bernard.

Dr. Walter Berninger, Technical Director, General Electric Co.

Dr. John Blair, Principal, JBX Technologies Inc.

Dr. Spiros Dimolitsas, Associate Director for Engineering, Lawrence Livermore National Laboratory.

David A. Dixon, Director of Learning Strategies, Coca-Cola Foods.

Dr. Richard M. Fantazier, General Manager, Strategic Technologies, Armstrong World Industries Inc., Innovation Center.

Augustus M. Filbert, Ph.D., Director, Technical Services, Corning Inc.

Dr. Stephen J. Gage, President, CAMP Inc.

Dr. Harmon M. Garfinkel.

Dr. Joel D. Goldhar, Professor of Technology Management, School of Business Administration, Illinois Institute of Technology.

Dr. Michael G. Griffith, Vice President, Research and Development, Arco Chemical Co.

Dr. Donald F. Hoeg, Consultant, DFH Associates.

Dr. James D. Idol, Professor, College of Engineering, Rutgers University.

Mark Israel, M.D., Professor of Neurosurgery and Pediatrics, Director, Preuss Laboratory of Molecular Neuro-oncology, Brain Research Center, University of California.

Dr. Robert W. Lucky, Vice President, Applied Research, Bellcore.

Dr. Gail H. Marcus, Office of Nuclear Reactor, U. S. Nuclear Regulatory Commission.

Dr. Stephen J. Matas, Senior Director, Research and International Affairs, LTV Steel Corp. Research Center.

William L. Miller, Ph.D., Director, Research and Business Development, Steelcase Inc.

Dominic J. Monetta, President, Research Alternatives Inc.

Dr. Mark B. Myers, Vice President, Corporate Research Group, Xerox Corp.

Dr. Parry M. Norling, Planning Director, Dupont CR&D.

Dr. Helen D. Ojha, Chief Executive Officer, Cornerstone Consulting.

Dr. Wayne H. Pitcher, Sc.D., Senior Vice President, Technology, Genencor International.

Dr. Dale F. Pollart, Director of Research, Research and Development, Texaco Inc.

Lee W. Rivers.

Mary J. Sand, Manager, Innovation Center, Helene Curtis Inc.

Professor Theodore W. Schlie, Associate Director for Research, Center for Innovation Management Studies, Rauch Business Studies, Lehigh University.

Dr. Alan Schriesheim, Director Emeritus, Argonne National Laboratory.

Bernd R. Seizinger, M.D., Ph.D., Vice President, Drug Discovery, Bristol-Myers Squibb Pharmaceutical Research Institute.

Jeffrey L. Staley, Principal, Mercer Management Consultants.

Eugene Steadman Jr., Ph.D., Director of Government Market Development, Government Relations, Hoechst Celanese Corp.

Dr. Robert J. Tuite, Managing Partner, Innovation Strategy Group Inc.

Dr. Robert L. Wetegrove, Corporate Research Associate, NALCO Chemical Co.

Dr. Karl H. Zaininger, Vice President and Senior Partner, Thomas Group Inc.

Dr. Barry L. Zoumas, Vice President of Science and Technology, Hershey Foods Corp.

SALES AND MARKETING COUNCILAllen W. Dyon, President, Allstate Motor Club Inc. Council Chairman.

Patricia V. Asip, National Manager of Multi-Cultural Affairs, J. C. Penney Co. Inc.

William L. Axline, President/General Manager, Stanley Mechanics Tools Division, The Stanley Works.

John D. Bergen, Senior Vice President, Corporate Relations, Westinghouse/CBS Inc.

John M. Billett, Chief Executive, Billetts.

Frankie Cadwell, President, Cadwell Davis Partners Advertising.

Frank E. Camacho, Vice President, Director, Sales and Marketing-NAD, ITT Sheraton Corp.

Lewis P. Carbone, President, Carbone and Co. Ltd.

D. Lynn Clever, CPM, President, Full Circle Associates Inc.

W. Allen Clifford, Vice President, Sales and Marketing, Siebe Control Systems.

Valerie T. Di Maria, President, GCI Group.

Robert D. Fallon, President, Suncoast Marketing.

Larry M. Flynn, Vice President, Sales, Northern Telecom.

Gerald M. Frick, Sales Manager, Commercial Fleet & Leasing.

David T. Gardella, President, The Instant Web Cos.

William A. Ghormley, Leader, Customer Fulfillment Process, Polaroid Corp.

Mark D. Gruen, Vice President, Gruen & Sells.

Stephan H. Haeckel, Director of Strategic Studies, Advanced Business Institute, IBM Corp.

Terry J. Hardie, Manager, Strategic Partnerships, Storage Technology Corp.

John Harrison, President, DiMark.

L. A. Hauser, Executive Director, McNeil Consumer Products Co.

David Hector, President, BPI Corp.

Francis X. Hubbard, Partner, Beacon Consulting Group.

Linda Hubbard, Vice President, Marketing and Public Affairs, Transamerica HomeFirst Inc.

Stephen T. Iovino, Senior Vice President, Chase Manhattan Bank.

Jonathan Kalman, Managing Director, MRJ Inc.

Jane Kaufman.

Dwight C. Laursen, Executive Vice President, Gillette Canada Inc.

Bernadette Mansur, Vice President, Corporate Communications, NHL.

W. Blair McCaw, Executive Vice President and Managing Director, Equity Management Inc.

Bill Murphy, Director of Global Accounts, Computer Systems Organization, Hewlett-Packard Co.

Eric D. Murphy, Vice President, Insurance Division, EDS.

Robert W. Nightengale, President, Nightengale Associates.

Jerry I. Reitman, Vice Chairman, International Data Response Corp.

Barry D. Robbins, President and Chief Executive Officer, The Alliance Groupe.

Dr. H. Paul Root, President, Marketing Science Institute.

David L. Sliney, Vice President, Marketing, Monsanto Co.

Sue Stoessl, Director, Magnox Electric PC.

James A. Stover, Vice President of Corporate Core Line Marketing, Amway Corp.

Michael J. Tobin, Vice President, Marketing, Comdisco Inc.

James C. Willcox, President and Chief Executive Officer, American Marketing Industries.

Leonard E. Wood III, Senior Director of Marketing, Orion Consulting Inc.

BOARD OF TRUSTEES 1996-1997OFFICERS AND MEMBERS OF THE BOARD OF TRUSTEES(FN*)Chairman: Michael F. Pasquale, President, Hershey Chocolate NA, Hershey, Penn.

(FN*)Vice Chairman: Dan R. Bannister, President and Chief Executive Officer, DynCorp, Reston, Va.

(FN*)President and Chief Executive Officer: David Fagiano.

(FN*)Chairman of the Executive Committee: Barbara Barrett, Esq., President, Triple Creek Guest Ranch/Montana, Paradise Valley, Ariz.

(FN*)Chairman of the Investment Committee: Leonard E. Wood III, Senior Director of Marketing, Orion Consulting Inc., Chicago, Ill.

MEMBERS OF THE BOARD OF TRUSTEESTerms Ending March 31, 1997:.

(FN*)Richard Barton, President, ADATOM Corp., San Jose, Calif.

Reginald K. Brack Jr., Chairman, Time Inc., New York, N.Y.

Andrea Jung, Senior Vice President, President-Global Marketing Group, Avon Products Inc., New York, N.Y.

Takayasu Kato, General Manager, International Administration Department, IHI Co., Tokyo, Japan.

Henning Kornbrekke, President and General Manager, Stanley Hardware Division, New Britain, Conn.

MEMBERS OF THE BOARD OF TRUSTEESTerms Ending March 31, 1998:.

Judie N. Eakins, President, Omega Studios Inc., Irving, Texas.

Gordon J. Feeney, Vice Chairman, Royal Bank of Canada, Toronto, Ontario, Canada.

Thomas S. Haggai, Chairman and Chief Executive Officer, IGA Inc., Chicago, Ill.

James J. O'Neill, Chief Executive Officer, Onex Food Services Inc., Arlington, Texas.

Enrique Rangel, Chairman of the Board, Administracion de Inversiones, S.A. de C.V., Tianepantla, Edo De Mexico.

MEMBERS OF THE BOARD OF TRUSTEESTerms Ending March 31, 1999:.

T.H. Lee, President and Chief Executive Officer, CIMIC Corp., Shanghai, People's Republic of China.

Don E. Marsh, Chairman, President and Chief Executive Officer, Marsh Supermarkets Inc., Indianapolis, Ind.

Govi Reddy, President and Chief Executive Officer, General Binding Corp., Northbrook, Ill.

William K. Slate II, President and Chief Executive Officer, American Arbitration Association, New York, N.Y.

MEMBERS OF THE BOARD OF TRUSTEESTerms Ending March 31, 1997 and Chairmen of AMA Councils:.

(FN*)GENERAL MANAGEMENT: G. Lee Thompson, Chairman and Chief Executive Officer, Mackenzie-Thompson Associates, Palm City, Fla.

HUMAN RESOURCES: Frank Calamita, Senior Vice President, Global Human Resources and Administration, Sony Music Entertainment, New York, N.Y.

INSURANCE AND RISK MANAGEMENT: Lawrence I. Geneen, Managing Principal, Executive Vice President, New York Division, Johnson & Higgins, New York, N.Y.

PURCHASING, TRANSPORTATION AND PHYSICAL DISTRIBUTION: David A. Riggs, First Vice President and Director, Sourcing, Mellon Bank Corp., Pittsburgh, Penn.

SALES AND MARKETING: Allen W. Dyon, President, Allstate Motor Club Inc., Arlington Heights, Ill.

EMERITUS OFFICER: Chairman Emeritus of the Board: Lawrence A. Appley.

CHAIRMEN OF AMA COUNCILS:FINANCE: Martin G. Mand, Chairman and President, Mand Associates Ltd., Wilmington, Del.

GENERAL AND ADMINISTRATIVE SERVICES: Richard J. Van Gemert, President, New World Jet Corp., Ronkonkoma, N.Y.

GENERAL MANAGEMENT FOR GROWING ORGANIZATIONS: John W. Lettmann, President and Chief Executive Officer, Malt-O-Meal Co., Minneapolis, Minn.

INFORMATION SYSTEMS AND TECHNOLOGY: Carl Chanson Williams, Vice President, Information Technology, Amoco Corp., Chicago, Ill.

INTERNATIONAL: David Diebold, Counsel, Dechert Price & Rhoads, Washington, D.C.

MANUFACTURING: Frank A. Papa, Senior Vice President, Senior Kayser-Roth Corp., Greensboro, N.C.

RESEARCH AND DEVELOPMENT: John McShefferty, Ph.D., Darnstown, Md.

OFFICERSFrank R. Giglio, Corporate Vice President and Chief Financial Officer.

Patricia Conway, Corporate Secretary.

John E. Edelstein, Treasurer.

John E. Doerr, Senior Vice President, Management Centre Europe.

Domenico Fanelli, Senior Vice President, AMA International.

Holly DeVan Lee, Senior Vice President, Individual Learner Market Group.

Frank A. Rigano, Senior Vice President, Systems Administration.

George Disegni, Vice President, General Services.

Robert Fraulo, Vice President, Partnership Group.

Priscilla C. Goss, Vice President, Human Resources.

Virginia L. O'Connor, Vice President, Councils and Consumer Affairs.

Mitchel R. Smith, Corporate Controller.

American Management Association is a not-for-profit educational organization incorporated by the Board of Regents of the University of the State of New York.

AMA by Satellite, AMACOM, AMA International, Center for Management Development, Compensation & Benefits Review, Getting Results..., HRfocus, Management Review, Operation Enterprise and Supervisory Management are registered trademarks of the American Management Association.

AWARD WINNERSAMA awards Life Memberships to specific individuals who have rendered outstanding and noteworthy service to the association. Life members are:.

* Lawrence A. Appley, Chairman Emeritus, American Management Association, Hamilton, N.Y.

* Thomas J. Bata Sr., former President, Bata Ltd.-Bata International, Don Mills, Ontario.

* John M. Belk, Chairman of the Board, Belk Store Services Inc., Charlotte, N.C.

* Dr. John N. Dempsey, former Vice President-Science and Technology, Bemis Co. Inc., Minneapolis, Minn.

* Dr. Charles W.L. Foreman, former Senior Vice President and Director, United Parcel Service, North Granby, Conn.

* Dr. Thomas R. Horton, former President, Chairman and Chief Executive Officer, American Management Association, New York, N.Y.

* John Lloyd Huck, former President, Merck, Sharp & Dohme, division of Merck & Co., New Vernon, N.J.

* Prof. Dr. Jan Kreiken, former Professor of Management, Technische Hogoschool Twente, Enschede, The Netherlands.

* Edward P. Lalley, former President, Ideal Mutual Insurance Co., Westport, Conn.

* James R. Martin, former Chairman, Massachusetts Mutual Life Insurance Co., Springfield, Mass.

* Robert K. Mueller, Chairman, Director, Arthur D. Little Ltd., Cambridge, Mass.

* Arthur C. Nielsen Jr., Chairman Emeritus, A.C. Nielsen Co., Northbrook, Ill.

* Saul Poliak, President, Kotch & Poliak Inc., New York, N.Y.

* James O. Rice, former President, James O. Rice Associates Inc., New York, N.Y.

* Peter G. Scotese, former President and Chief Executive Officer, Spring Mills Inc., New York, N.Y.

* Robert T. Sheen, former Chairman, Milton Roy Co., St. Petersburg, Fla.

* The Hon. Elmer B. Staats, former Comptroller General of the United States, Washington, D.C.

* Robert C. Stites, Chairman, Numark Laboratories Inc., Edison, N.J.

The Henry Laurence Gantt Award, established in 1929, is awarded annually by American Management Association and The American Society of Mechanical Engineers for "distinguished achievement in management as a service to the community.".

The 1995 award (presented in April 1996) was made to Lodwrick M. Cook, chairman emeritus of ARCO (Atlantic Richfield Corp.), Los Angeles, Calif. He was recognized for his visionary, strategic and tactical management which positioned ARCO as an industry leader; and his commitment to improving air quality through the development and marketing of cleaner-burning gasoline. He was also recognized for his personal focus on education, youth and minorities manifested in a 20-year association with Junior Achievement; his leadership in helping the Los Angeles Central Library replace books lost to fire; his sponsorship of the Plaza de la Raza cultural center, and his service as a director, trustee or member of numerous civic organizations.

Added material.

FINANCIAL SUMMARY.

(TABLE)(in thousands) DECEMBER 31 PROFORMA(FNa)FOR THE YEAR ENDED 1992 1993 1994 1995 1996Operating Revenues Individual Learner Market Group $155,443 $159,033 $185,365 $209,482 $214,903 Corporate Partnership Development Group 26,186 28,675 27,985 28,503 28,339 Interest Income 2,714 2,244 1,799 2,445 1,552 Other, net 1,787 2,215 2,083 2,154 1,693Total 186,130 192,167 217,232 242,584 246,487Operating Expenses 187,698 189,559 213,213 237,563 247,513 Loss on Lease (45,104)(FNc) 2,346(FNc) (1,568) 2,608 4,019 (40,083) 1,320Unrealized Gain (Loss) on Investments - - - 692(FNb) (102)Excess (Deficiency) before Changes in Accounting (1,568) 2,608 4,019 (39,391) 1,218Cumulative Effect of Changes in Accounting Postretirement Benefits - - - (7,677)(FNb) - Investments - - - (612)(FNb) - - - - - (8,289) -Excess (Deficiency) of Revenues Over (Under) Expenses $(1,568) $2,608 $4,019 $(47,680) $1,218AT END OF YEAR Cash and Investments $39,805 $32,510 $35,263 $31,415 $23,565 Accounts Receivable $8,633 $9,146 $14,174 $15,836 $18,221 Payables $39,950 $34,249 $36,229 $34.052 $33,630 Net Assets (Deficiency) $17,542 $20,174 $24,289 $(23,598) $(22,320).

FOOTNOTESa: In 1995, the Association was reorganized into two principal operating groups to better serve its individual and corporate members. The financial data for years prior to 1995 has been restated on a proforma basis for comparative purposes only.

b: Effective January 1, 1995, the Association adopted FASB Statements No. 106, "Accounting for Postretirement Other than Pensions" and No. 124, "Accounting for Certain Investments Held by Not-for-Profit Organizations.".

c: In 1995, the Association accrued a provision for loss for the remaining term of the noncancelable operating lease for its New York City facilities and for the write-off of unamortized leasehold improvements and equipment. In 1996, this estimate was revised for additional sublease agreements that were signed.

Copies of our financial statements, audited by KPMG Peat Marwick, LLP, are available upon request. Please write to Patricia Conway, Corporate Secretary, American Management Association, 1601 Broadway, New York, NY 10019; or call (212) 903-7908.

AMA's Eric Greenberg testifies on Capitol Hill.

Whistler Week provided concentrated Learning in a resort setting.

Baroness Margaret Thatcher keynoted MCE's Top Management Forum in London.

AMA's newest center, located in Islamabad, provides state-of-the-art learning facilities.

MARTIN G. MAND.

RICHARD J. VAN GEMERT.

G. LEE THOMPSON.

JOHN W. LETTMANN.

FRANK CALAMITA.

CARL CHANSON WILLIAMS.

LAWRENCE I. GENEEN.

DAVID K. DIEBOLD.

FRANK A. PAPA.

DAVID A. RIGGS.

JOHN McSHEFFERTY.

ALLEN W. DYON.

Lodwrick M. Cook, winner of the 1995 Henry Laurence Gantt medal.

FOOTNOTE* Member of the Executive Committee.

AMA CENTERS AND LOCATIONSUNITED STATESAMA HEADQUARTERS1601 Broadway.

New York, N.Y. 10019-7420.

(tel.) 212-586-8100.

(fax) 212-903-8168.

AMA SARANAC LAKEP.O. Box 319, Trudeau Road.

Saranac Lake, N.Y. 12983.

Mitchel Smith, Corporate Controller.

(tel.) 518-891-1500 ext. 300.

(fax) 518-891-0913.

(e-mail) cust-serv@amanet.org.

AMA KANSAS CITY11221 Roe Ave.

Leawood, Kan. 66221.

Vincent Amen, Managing Director.

(tel.) 913-451-2700.

(fax) 913-451-2026.

AMA BOSTON(Training Products Division) 9 Galen St.

Watertown, Mass. 02172.

Sandy O'Dell, Executive Director.

(tel.) 617-926-4600.

(fax) 617-926-0312.

AMA MANAGEMENT CENTER, ATLANTA14th and Peachtree Streets, N.E.

Atlanta, Ga. 30361.

Charlene Gordon, Manager of Center Operations.

(tel.) 404-892-7599.

(fax) 404-888-0756.

AMA MANAGEMENT CENTER, CHICAGO8655 West Higgins Road.

Chicago, Ill. 60631.

Desi Bakalis, Regional Manager of Center Operations.

(tel.) 312-693-5511.

(fax) 312-693-3260.

AMA MANAGEMENT CENTER, SAN FRANCISCOAt the Marriott Hotel - 2nd level 55 Fourth St.

San Francisco, Calif. 94103.

Robert Burns, Manager of Center Operations.

(tel.) 415-442-6770.

(fax) 415-442-6756.

AMA MANAGEMENT CENTER, WASHINGTON, D.C.440 First St. N.W.

Washington, D.C. 20001.

Peter Nagrod, Manager of Center Operations.

(tel.) 202-347-3092.

(fax) 202-347-4549.

OPERATION ENTERPRISEP.O. Box 88,.

Hamilton, N.Y. 13346.

Reg Wilson, Director.

(tel.) 315-824-2000.

(fax) 315-824-6710.

(e-mail) oeamal@aol.com.

EUROPEMANAGEMENT CENTRE EUROPErue de l'Aqueduc 118.

B-1050 Brussels, Belgium John E. Doerr, Senior Vice President and Managing Director.

(tel.) 32-2-543-21-00.

(fax) 32-2-543-24-00.

(e-mail) info@mce.be.

SOUTH AMERICAAMERICAN MANAGEMENT ASSOCIATION INTERNATIONAL-ARGENTINAReconquista 1166, 12th floor.

(CP 1003), Buenos Aires, Argentina Mario Aguiar, General Manager.

(tel.) 54-1-311-0999.

(fax) 54-1-313-3355.

ASIAASIA-PACIFIC MANAGEMENT INSTITUTESuncome CIMIC Tower, 19th floor Shang Cheng Lu 239# Pu Dong New Area.

Shanghai, 200120.

People's Republic of China.

Gilbert Wu, Managing Director.

(tel.) 8621-6875-5858.

(fax) 8621-5863-7707.

AMA INTERNATIONAL MANAGEMENT CENTERArk Mori Building, 17th floor 1-12-32 Akasaka, Minato-ku.

Tokyo 107, Japan.

Wolfgang Lux, General Manager.

(tel.) 81-3-3505-4711.

(fax) 81-3-3505-4665.

AMERICAN MANAGEMENT ASSOCIATION-PAKISTANSaudi Pak Tower.

61-A Jinnah Ave.

Islamabad, Pakistan Shafiq Naz, General Manager.

(tel.) 92-51-11-199-9000.

(fax) 92-51-11-199-9555.

AFFILIATED CENTERSNORTH AND SOUTH AMERICACANADIAN MANAGEMENT CENTRESuite 500, 150 York St.

Toronto, Ontario, Canada M5H 3S5 William Sutton, Managing Director.

(tel.) 416-214-5678.

(fax) 416-214-1453.

MANAGEMENT CENTER DE MEXICOPaseo de la Reforma, 199-9th floor.

06500 Mexico, D.F. Mexico Raul Penalosa, General manager.

(tel.) 52-5-566-5422.

(fax) 52-5-592-2266.

SERVICIO NACIONAL DE APRENDIZAGEN COMERCAL (SENAC)Rua Frei Caneca, 1119.

CEP 01307-003.

Sao Paulo, Brazil Rafael Sanches Neto, Corporate Manager.

(tel.) 55-11-287-6199.

(fax) 55-11-287-6201.

MIDDLE EAST AND AFRICAMIDDLE EAST MANAGEMENT AND RESEARCH CENTREP.O. Box 16129, Dubai.

United Arab Emirates Shaker A. Al-Monthiry, Director.

(tel.) 971-4-22-7478.

(fax) 971-4-27-0738.

(e-mail) memrc@emirates.net.ae.

MIDDLE EAST MANAGEMENT CENTRE23-25 rue Armand Campenhout.

B-1050 Brussels, Belgium.

Joe A. Albayati, General Manager.

(tel.) 32-2-512-87-78.

(fax) 32-2-512-82-82.

MANAGEMENT CENTRE TURKIYEHüsrev Gerede Cad. No. 68/4.

Etiler 80220, Istanbul, Turkey.

Alper Utku, Director.

(tel.) 90-212-236-2370-71.

(fax) 90-212-236-2392.

DAMELIN MANAGEMENT SCHOOLDamelin Centre Harrison & DeKorte Streets.

P.O. Box 32167.

Braamfontein 2017, South Africa.

Nielen Brummer.

(tel.) 27-11-403-5420.

(fax) 27-11-403-2985.

ASIALEMBAGA PENDIDIKAN DAN PEMBINAAN MANAJEMEN (LPPM)(Institute for Management Education and Development).

Bina Manajemen Building - Jl. Menteng Raya 9, Jakarta 10340, Indonesia Setiadi Djohar, Head of Strategic Management and Enterprise Development.

(tel.) 62-21-230-0313.

(fax) 62-21-230-2051.

INTERSERV INTERNATIONAL INC.12F-1, No. 510.

Chung-Hsiao East Road, Sec. 5 Taipei, Taiwan, Republic of China Sam Lee, President.

(tel.) 886-2-346-0121.

(fax) 886-2-346-0242.

LEARNING EDGE INTERNATIONAL20 Kallang Ave. Pico Creative Centre, 3rd floor.

Singapore 339411.

Emily Yap, Senior Consultant.

(tel. and fax) 65-353-9098.

APM INTERNATIONAL CO. LTDNo. 7-01 Ploenchit Center.

2, 4 Sukhumvit Rd., Thailand Rungkamol Hongskul, General Manager.

(tel.) 662-656-9310.

(fax) 662-656-9322.

ALL-INDIA MANAGEMENT ASSOCIATION MANAGEMENT HOUSE14 Institutional Area, Lodi Road.

New Delhi 100 003, India.

Maj. General D.N. Khurana, Director General.

(tel.) 91-11-4635012.

(fax) 91-11-4626689.