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Proxy Statement
Investor Relations


triangle Note 1 - Summary of Significant Accounting Policies
triangle Note 2 - Investments
triangle Note 3 - Loans
triangle Note 4 -Short- and Long-Term Debt and Borrowing Agreements
triangle Note 5 - Cumulative Quarterly Income Preferred Shares
triangle Note 6 - Common and Preferred Shares
triangle Note 7 - Derivative and Other Off-Balance Sheet Financial Instruments
triangle Note 8 - Fair Values of Financial Instruments
triangle Note 9 - Significant Credit Concentrations
triangle Note 10 - Stock Plans
triangle Note 11 - Retirement Plans
triangle Note 12 - Income Taxes
triangle Note 13 - Earnings Per Common Share
triangle Note 14 - Operating Segments and Geographic Operations
triangle Note 15 - Lease Commitments and Other Contingent Liabilities
triangle Note 16 - Transfer of Funds from Subsidiaries
triangle Note 17 - Quarterly Financial Data (unaudited)



NOTE 15 - Lease Commitments and Other Contingent Liaibilities

The company leases certain office facilities and operating equipment under noncancellable and cancellable agreements. Total rental expense amounted to $452 million, $388 million and $384 million in 1999, 1998 and 1997, respectively. At December 31, 1999, the minimum aggregate rental commitment under all noncancellable leases (net of subleases) was (millions): 2000, $345; 2001, $304; 2002, $224; 2003, $164; 2004, $132; and thereafter, $1,310.

The company is not a party to any pending legal proceedings that, in the opinion of management, would have a material adverse effect on the company’s financial position.

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