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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
[x] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 (FEE REQUIRED)
For the fiscal year ended November 30, 1995
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED)
For the transition period from __________ to___________
Commission file number 1-2256
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
(Full title of the plan)
EXXON CORPORATION
(Name of issuer of the securities)
5959 Las Colinas Boulevard
Irving, Texas 75039-2298
(Address of principal executive office)
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
INDEX
Page
----
Financial Statements
Statement of Net Assets
Available for Benefits, with
Fund Information at
November 30, 1995 and 1994 2-3
Statement of Changes in Net Assets
Available for Benefits, with
Fund Information for the
Year ended November 30, 1995 4
Notes to Financial Statements 5-8
Item 27a-Schedule of Assets Held for Investment
Purposes at November 30, 1995 (Exhibit 1) 9-25
Item 27d-Schedule of Reportable
Transactions (Exhibit 2) 26
Report of Independent Accountants 27
Consent of Independent Accountants 28
Signatures 29
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION
NOVEMBER 30, 1995
(millions of dollars)
Non-
Participant
Participant Directed Directed
---------------------------------------- -----------
Exxon Exxon
Corporation Extended Corp.
Common Common Equity Market Preferred
Asset Stock Portfolio Portfolio Stock
Fund Fund* Fund* Fund Fund* Total
---------------------------------------- --------- -----
Assets
Investments,at
fair value:
Fixed income
securities $2,669 - - - $2,669
Short-term
investments 64 - - - $13 77
Loans to parti-
cipants 159 - - - - 159
Exxon Corp
common stock - $3,279 - - - 3,279
Index funds - - $429 $136 - 565
Exxon Corp Class A
preferred stock - - - - 584 584
-------------------------------------------------------
Total investments 2,892 3,279 429 136 597 7,333
Cash 5 - - - - 5
Amounts due from
employers - - - - 34 34
Dividends receivable - 32 - - - 32
Accrued interest 45 - - - - 45
Other receivables 2 - - - - 2
-------------------------------------------------------
Total assets 2,944 3,311 429 136 631 7,451
-------------------------------------------------------
Liabilities
Payables and accrued
liabilities 49 7 - - 10 66
Notes payable - - - - 460 460
Subrogation rights
obligation - - - - 41 41
-------------------------------------------------------
Total liabilities 49 7 - - 511 567
-------------------------------------------------------
Net assets available
for benefits $2,895 $3,304 $429 $136 $120 $6,884
=======================================================
*Investment Funds representing 5% or more of net assets available for
benefits.
The accompanying notes are an integral part of these financial statements.
-2-
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION
NOVEMBER 30, 1994
(millions of dollars)
Non-
Participant
Participant Directed Directed
--------------------------------------- -----------
Exxon Exxon
Corporation Extended Corp.
Common Common Equity Market Preferred
Asset Stock Portfolio Portfolio Stock
Fund Fund* Fund* Fund Fund* Total
---------------------------------------- --------- -----
Assets
Investments, at
fair value:
Fixed income
securities $2,359 - - - $16 $2,375
Short-term
investments 105 - - - - 105
Loans to parti-
cipants 170 - - - - 170
Exxon Corp
common stock - $2,797 - - - 2,797
Index funds - - $298 $78 - 376
Exxon Corp Class A
preferred stock - - - - 568 568
--------------------------------------------------------
Total investments 2,634 2,797 298 78 584 6,391
Amounts due from
employers - - - - 45 45
Dividends receivable - 35 - - - 35
Accrued interest 52 - - - - 52
Other receivables 1 - - - - 1
--------------------------------------------------------
Total assets 2,687 2,832 298 78 629 6,524
--------------------------------------------------------
Liabilities
Payables and accrued
liabilities 14 8 - - 19 41
Notes payable - - - - 565 565
Subrogation rights
obligation - - - - 48 48
--------------------------------------------------------
Total liabilities 14 8 - - 632 654
--------------------------------------------------------
Net assets available
for benefits $2,673 $2,824 $298 $78 ($3) $5,870
========================================================
*Investment Funds representing 5% or more of net assets available for
benefits.
The accompanying notes are an integral part of these financial statements.
-3-
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS,
WITH FUND INFORMATION
YEAR ENDED NOVEMBER 30, 1995
(millions of dollars)
Non-
Participant
Participant Directed Directed
------------------------------------ ------------
Exxon Exxon
Corp. Extended Corp.
Common Common Equity Market Preferred
Asset Stock Portfolio Portfolio Stock
Fund Fund Fund Fund Fund Total
------------------------------------ --------- -----
Contributions:
Employer $19 $5 $2 $2 $87 $115
Employee 93 34 23 19 - 169
-----------------------------------------------------
Total contributions 112 39 25 21 87 284
-----------------------------------------------------
Investment income:
Interest 163 - - - 1 164
Dividends - 132 - - 40 172
Net appreciation
(depreciation) in fair
value of investments 60 753 111 28 120 1,072
-----------------------------------------------------
Total investment income 223 885 111 28 161 1,408
-----------------------------------------------------
Interest expense - - - - (36) (36)
LESOP conversions - 103 - - (103) -
Benefit payments at fair
value (390) (155) - - - (545)
Participant withdrawals
at fair value (63) (34) - - - (97)
Interfund transfers 340 (358) (5) 9 14 -
-----------------------------------------------------
Net increase(decrease) 222 480 131 58 123 1,014
Net assets available
for benefits:
At the beginning of
the year 2,673 2,824 298 78 (3) 5,870
-----------------------------------------------------
At the end of the year $2,895 $3,304 $429 $136 $120 $6,884
=====================================================
The accompanying notes are an integral part of these financial statements.
-4-
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
NOTES TO FINANCIAL STATEMENTS
Note 1: Plan Description
The participants in the Thrift Plan of Exxon Corporation and
Participating Affiliates (the "Thrift Plan", also called the
"Thrift Fund" or the "Savings and Investment Program") are eligible
employees and former employees of Exxon Corporation and certain
affiliated employers. The terms and conditions of the Thrift
Plan are fully contained in the Thrift Plan of Exxon Corporation
and Participating Affiliates document (Plan Document) dated
December 1993, as amended from time to time. The Thrift Plan
is an "employee pension benefit plan" described in Section 3(2)
of Employee Retirement Income Security Act of 1974 (ERISA) and
also a "defined contribution plan" described in Section 3(34)
of ERISA.
Eligibility, enrollment, participant and employer contributions,
vesting, participation, forfeiture, loans, withdrawals,
distribution, and other Thrift Plan provisions are described in
detail in the Plan Document. Also set forth in the Plan Document
are the investment features and options of the Thrift Plan
including, but not limited to, stock purchases and sales, equity
unit purchases and sales, extended market unit purchases and sales,
and other transactions.
Note 2: Accounting Policies
The accounting records of the Thrift Plan are maintained on the
accrual basis.
The Common Asset Fund, Exxon Corporation Common Stock Fund, Equity
Portfolio Fund, and Extended Market Portfolio Fund investments are
stated at current value. Current values are based on quoted prices
as of the date of the financial statements, or, if market quotations
are not readily available, upon estimated values obtained from a
major investment securities firm. Exxon Corporation Class A
preferred stock held in the Exxon Corporation Preferred Stock Fund
is stated at current value. Such value was determined by the
Trustee of the Thrift Plan.
Net appreciation in the current value of investments includes
realized gains and losses on investments sold during the year and
unrealized gains and losses on investments held at year-end.
-5-
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
NOTES TO FINANCIAL STATEMENTS
Note 3: Revalued Cost Basis Gains and Losses
The Department of Labor (DOL) requires that the components of net
appreciation (depreciation) for investments held in the Exxon
Corporation Common Stock Fund, investments held in the Common
Asset Fund, and investments held in the Exxon Corporation Preferred
Stock Fund be segregated and calculated on a revalued cost basis
for ERISA annual report (Form 5500) reporting purposes. Under the
revalued cost basis, realized gains and losses on investments sold
are calculated as proceeds less market value at the beginning of
the year or, if acquired during the year, historical cost.
Unrealized gains and losses are calculated as market value of
assets at the end of the year less market value at the beginning
of the year or, if acquired during the year, historical cost.
For the Common Asset Fund and the Exxon Corporation Preferred Stock
Fund fixed income securities, gains and losses are calculated on the
basis of specific security identification. For Exxon Corporation
common stock, gains and losses are calculated assuming a first-in,
first-out methodology for total shares in the portfolio for all shares
sold by participants.
For the years ended November 30, 1995 and 1994, these components
of net appreciation (depreciation) were:
Exxon Corporation Common Asset Fixed Exxon Corporation
Common Stock Income Securities Preferred Stock
------------ ----------------- -----------------
1995 1994 1995 1994 1995 1994
---- ---- ---- ---- ---- ----
(millions of dollars)
Realized G/(L) $ 94 ($ 1) $ 6 ($14) $ - $ -
Unrealized G/(L) 659 (97) 54 ( 60) 120 (14)
----- ---- ----- ----- ----- -----
Net Appreciation $753 ($98) $60 ($74) $120 ($14)
(Depreciation)
Note 4: Tax Status
In 1993, the Internal Revenue Service issued a favorable
determination letter with respect to the qualification of the Thrift
Plan under Section 401(a) of the Internal Revenue Code (IRC).
The Trustee believes that the Plan is qualified and, therefore,
that the Trust is exempt from tax under IRC Section 501(a).
The federal tax treatment of a qualified plan and trust, as well as
distributions from such a plan, are described in the Plan Document.
-6-
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
NOTES TO FINANCIAL STATEMENTS
Note 5: Expenses
Participating employers pay the administrative expenses of the
Thrift Fund with the exception of: (1) brokers' commissions and SEC
fees on Exxon Corporation common stock purchases and sales which are
paid by Thrift participants purchasing or selling stock and are included
in the price of the stock at the time of purchase or sale and (2)
management fees, brokerage commissions, and administrative expenses of
the Equity Portfolio Fund and the Extended Market Portfolio Fund, which
are paid by Thrift participants in those respective Funds.
Note 6: Direct Dividend Account
A Leveraged Employee Stock Ownership Plan (LESOP) was incorporated
into the Thrift Plan on August 1, 1988. This LESOP is commonly
referred to as the Direct Dividend Account (DDA) and is described in
detail in the Plan Document. In 1989, the Trustee-Thrift Trust
borrowed $1.0 billion at a floating rate of interest under the
terms of notes, guaranteed by Exxon Corporation, maturing between
1990 and 1999. Remaining annual principal payments on the notes
range from $110.0 million to $125.0 million. In addition, there are
subrogation rights obligations which are mentioned below. The Trustee
used the proceeds of the borrowing to purchase 16,349,945 shares of a
new issue of Exxon Corporation Class A preferred stock for $61.50 per
share. Exxon Corporation Class A preferred stock can be converted into
Exxon Corporation common stock at the lower of current common stock
market value or $61.50. Dividends are cumulative and payable in an
amount per share equal to $4.68 per annum. As of November 30, 1995,
there were 19,135,188 shares of Exxon Corporation common stock in the
DDA.
Employer contributions to the DDA, plus certain dividends, are used
to make principal and interest payments on the notes. Employer
contributions are based on a matching program related to employee
contributions and are funded annually when principal amounts on the
notes are due. As contributions and dividends are credited, shares
of preferred stock are proportionately converted into common stock
and allocated to participants' accounts in accordance with the
applicable requirments of the IRC. During 1995, 1,678,567
shares, or approximately $103 million, of preferred stock were
converted to common stock and allocated. During 1994, 1,819,364
shares, or approximately $112 million, of preferred stock were
converted to common stock and allocated. Net dividends on the
preferred stock of $40 million and $48 million were paid during 1995
and 1994, respectively, and covered certain principal and interest
payments on the notes and interest payments on the subrogation
rights referred to below.
-7-
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
NOTES TO FINANCIAL STATEMENTS
The June, 1995 $105 million principal payment on the notes and $7 million
retirement of subrogation rights (referred to below) were funded with
approximately $86 million of employer contributions to the DDA, $25 million
of common dividends reinvested within the DDA and $1 million of preferred
stock dividends and interest income in excess of interest expense.
The June, 1994 $110 million principal payment on the notes was funded with
approximately $71 million of employer contributions to the DDA, $21 million
of common dividends reinvested within the DDA and $11 million of preferred
stock dividends and interest income in excess of interest expense and a
guarantor payment by Exxon Corporation of approximately $7 million.
Upon its payment in 1994, 1991 and 1990 respectively of approximately
$7 million, $11 million and $53 million principal on the notes as
guarantor, Exxon Corporation became subrogated to all rights of the
holders of such notes with respect to those payments. These
subrogation rights include the right to receive payment from the
Trustee-Thrift Trust of the remaining principal amounts, if any,
plus accrued and unpaid interest thereon, upon final payment of all
principal and interest on the notes. During 1994 and 1992, Exxon
Corporation sold these subrogation rights to a third party, which
is paid interest thereon on a current basis. Under certain
circumstances, the third party may require Exxon Corporation to
repurchase these subrogation rights. During 1995, $7 million of the
subrogation rights obligation incurred in 1994 was retired. During 1993,
$12 million of the subrogation rights obligation incurred in 1990 was
retired, and during 1992, $11 million of the subrogation rights obligation
incurred in 1991 was retired.
Note 7: Claims Incurred But Not Paid
The Plan reports benefits paid on a cash basis as required under generally
accepted accounting principles. For Form 5500 reporting purposes, claims
incurred but not paid of $4 million and $37 million for the years ended
November 30, 1995 and 1994 respectively are reported on an accrual basis.
As such, the net assets available for benefits reflected for Form 5500
purposes are $6,880 million and $5,833 million for the years ended
November 30, 1995 and 1994, respectively.
-8-
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
11/30/95
(thousands of dollars)
MATURITY AMORTIZED CURRENT
DESCRIPTION COUPON DATE PAR VALUE COST VALUE
- ----------------------------------------------------------------------------
COMMON ASSET FUND
- ------------------
CORPORATE BONDS
AT&T CORP 4.500% 02/15/96 $11,800 $11,750 $11,766
A T & T CAP CORP
M/T/N 7.080% 05/19/97 2,000 2,007 2,034
AMERICAN EXPRESS
MASTER TR 6 050% 06/15/98 20,850 20,830 20,973
ASSOCIATES CORP
NORTH AMER 8.375% 06/01/96 3,190 3,211 3,227
ASSOCIATES CORP
NORTH AMER 8.800% 03/01/96 5,565 5,591 5,600
ASSOCIATES CORP
NORTH AMER SR NT 7.500% 10/15/96 15,500 15,571 15,711
ASSOCIATES CORP
NORTH AMER SR NT 8.125% 01/15/98 5,000 5,189 5,233
BANC ONE AUTO TR 6.363% 05/15/96 1,019 1,019 1,020
BANC ONE AUTO TR 6.650% 05/15/97 18,000 18,005 18,079
BANC ONE AUTO TR 6.850% 11/15/97 10,000 9,998 10,107
BANCO INTERNATL
TRADE FIN SER
A-3 RESTR 6.760% 10/15/96 1,000 1,005 1,011
BANCO INTERNATL
TRADE FIN
SER A-4 RESTR 6.760% 10/15/96 1,324 1,330 1,338
BANCO INTERNATL
TRADE FIN SER
A-2 RESTR 6.760% 10/15/96 1,000 1,005 1,011
BANCO INTL TRADE
FIN CORP RESTR 7.440% 04/15/97 1,499 1,512 1,537
BANAMEX EXPORT
FDG CORP
RESTR *PP* 7.580% 10/15/96 599 602 601
BAYERISCHE
LANDESBANK U S
FIN M/T/N 4.625% 04/02/96 14,000 13,999 13,939
BELLSOUTH CAP
FDG CORP 9.250% 01/15/98 1,900 2,014 2,029
BELLSOUTH CAP
FDG CORP M/T/N 6.790% 03/03/97 7,000 7,000 7,076
BELLSOUTH CAP
FDG CORP M/T/N 7.550% 11/29/96 3,000 3,043 3,054
-9-
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
11/30/95
(thousands of dollars)
MATURITY AMORTIZED CURRENT
DESCRIPTION COUPON DATE PAR VALUE COST VALUE
- ----------------------------------------------------------------------------
BOATMENS AUTO TR 5.900% 06/15/98 $10,000 $9,995 $10,019
BOATMENS AUTO TR 6.100% 05/15/00 10,000 9,991 9,999
BRIDGESTONE/
FIRESTONE
MASTER TR 6.250% 12/01/99 9,500 9,486 9,513
CFAC GRANTOR TR 6.450% 12/15/97 3,306 3,315 3,309
CFC-14 GRANTOR
TRUST RESTR 7.150% 11/15/06 6,824 6,872 6,825
CTS HOME EQUITY
LN TR 7.700% 09/15/06 5,406 5,499 5,568
CAPITAL AUTO
RECEIVABLES
ASSET 5.750% 12/15/97 1,279 1,288 1,279
CAPITAL AUTO
RECEIVABLES
ASSET 5.350% 02/15/98 2,846 2,852 2,844
CAPITAL AUTO
RECEIVABLES
ASSET TR 4.700% 05/15/97 3,473 3,473 3,466
CARCO AUTO LN
MASTER TR 7.875% 03/15/98 2,000 2,018 2,024
CASE EQUIP LN TR 6.150% 10/25/26 10,000 9,997 10,105
CHASE MANHATTAN
CR CARD MASTER 7.650% 11/15/98 11,567 11,587 11,572
CHASE MANHATTAN
CR CARD MASTER 7.400% 05/15/00 16,000 16,119 16,321
CHASE MANHATTAN
GRANTOR TR 6.000% 09/17/01 23,483 23,455 23,569
CHASE MANHATTAN
GRANTOR TR 5.900% 11/15/01 20,000 19,986 20,049
CHEMICAL GRANTOR TR 8.900% 12/15/96 2,995 2,987 3,009
CHEVRON CORP
PROFIT SHARING/ 6.920% 01/01/96 5,000 5,009 5,003
CHEVRON CORP
PROFIT SHARING/ 7.280% 01/01/97 3,500 3,552 3,555
CITICORP MTG SECS
INC REMIC
PASS THRU 5.750% 03/25/09 3,929 3,925 3,896
COCA COLA CO NT 7.750% 02/15/96 2,000 2,004 2,007
COCA COLA CO 7.875% 09/15/98 8,000 8,393 8,432
-10-
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
11/30/95
(thousands of dollars)
MATURITY AMORTIZED CURRENT
DESCRIPTION COUPON DATE PAR VALUE COST VALUE
- ----------------------------------------------------------------------------
COLONIAL CR CARD TR 7.450% 01/15/98 $2,996 $3,007 $3,022
COLONIAL CREDIT
CARD TR 1992-A 6.800% 08/15/97 6,795 6,814 6,825
CONCORD LEASING
GRANTOR RESTR 5.310% 05/01/00 1,591 1,583 1,591
CORESTATES HOME
EQUITY TR 5.100% 03/15/09 6,238 6,235 6,119
DAIMLER-BENZ AUTO
GRANTOR TR 5.850% 05/15/02 20,000 20,022 20,000
DAIMLER-BENZ VEH
TR 1994-A ASSET
BACK 5.950% 12/15/00 10,497 10,505 10,499
DAYTON HUDSON
CR CARD MASTER 6.100% 02/25/02 9,590 9,593 9,694
DEUTSCHE BANK
FIN INC M/T/N 8.800% 01/15/97 2,000 2,040 2,070
DEUTSCHE BK FINL
INC M/T/N 8.800% 01/15/97 8,625 8,828 8,881
DISCOVER CARD
MASTER TR I
SER 94-1 CR 6.700% 02/16/00 23,000 22,991 23,378
DISCOVER CARD TR 7.200% 04/16/98 8,333 8,317 8,338
DISCOVER CARD TR 5.500% 05/16/98 20,000 19,990 19,954
DISCOVER CARD TR 6.250% 08/16/00 10,200 10,187 10,307
DU PONT E I
DE NEMOURS & CO 8.450% 10/15/96 2,695 2,733 2,753
DU PONT E I
DE NEMOURS & CO
M/T/N 7.160% 03/03/97 10,000 10,022 10,178
DU PONT E I
DE NEMOURS & CO
M/T/N 6.090% 06/16/97 7,000 7,000 7,043
DUKE PWR CO 5.625% 08/12/97 2,900 2,882 2,895
DUKE PWR CO M/T/N 6.470% 12/15/95 5,000 5,004 5,001
EKSPORTFINANS A S
M/T/N 5.500% 02/17/97 9,500 9,336 9,471
EMERSON ELEC CO
EURO 7.875% 06/05/98 9,720 10,042 10,157
-11-
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
11/30/95
(thousands of dollars)
MATURITY AMORTIZED CURRENT
DESCRIPTION COUPON DATE PAR VALUE COST VALUE
- ----------------------------------------------------------------------------
FCC GRANTOR TR 8.750% 02/15/06 $4,127 $4,293 $4,184
FICAL HOME EQUITY
LN TR 8.900% 11/15/97 283 287 282
FIRST CHICAGO
MASTER TR 8.400% 06/15/98 15,060 15,240 15,247
FIRST CHICAGO
MASTER TR 6.250% 08/15/99 29,165 29,194 29,404
FIRST DEP MASTER
TR ASSETS
BACKED CTF 5.750% 06/15/01 8,000 7,888 8,018
FIRST DEP MASTER
TR SER 1993-1
CL1 4.900% 06/15/00 23,333 23,330 23,289
FIRST DEP MASTER
TR 6.900% 08/15/01 5,000 5,040 5,096
FIRST SEC AUTO
GRANTOR TR 6.250% 01/15/01 8,213 8,209 8,264
FIRST USA CR CARD
MASTER TR 5.200% 06/15/98 36,415 36,511 36,283
FLEET FIN INC 5.450% 03/20/23 3,611 3,609 3,590
FLEET FIN HOME
EQUITY TR
1991-2 HOME EQ 6.700% 10/16/06 4,607 4,598 4,654
FLEETWOOD CR
1993-B
GRANTOR TR 4.950% 08/15/08 3,749 3,739 3,683
FLEETWOOD CR
1994-B
GRANTOR TR 6.750% 03/15/10 3,942 3,929 4,006
FORD CR AUTO
LN MASTER
TR SER 1992-1 6.875% 01/15/99 5,000 5,019 5,058
FORD CR 1994-A
GRANTOR TR 6.350% 05/15/99 3,386 3,404 3,410
FORD CR GRANTOR TR 5.900% 05/15/00 34,581 34,553 34,657
GE CAP MTG SVCS
INC 7.200% 09/15/11 4,088 4,084 4,151
GMAC 1992-D
GRANTOR TR 5.550% 05/15/97 1,049 1,049 1,047
GMAC 1992-F
GRANTOR TR 4.500% 09/15/97 643 635 639
-12-
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
11/30/95
(thousands of dollars)
MATURITY AMORTIZED CURRENT
DESCRIPTION COUPON DATE PAR VALUE COST VALUE
- ----------------------------------------------------------------------------
GMAC 1994-A
GRANTOR TR 6.300% 06/15/99 $23,073 $23,159 $23,223
GMAC 1995-A
GRANTOR TR 7.150% 03/15/00 17,690 17,897 17,983
GENERAL DEVELOP
MENT MTG TRUST 9.050% 02/25/99 450 445 456
GENERAL ELEC CAP
CORP M/T/N 8.650% 06/24/97 5,000 5,206 5,212
GENERAL ELEC
CAP CORP M/T/N 6.370% 09/01/98 7,500 7,544 7,647
GENERAL ELEC
CAP CORP M/T/N 7.950% 02/02/98 2,400 2,484 2,517
GENERAL ELEC
CAP CORP M/T/N 7.125% 04/06/98 2,350 2,408 2,430
GENERAL ELEC
CAP CORP M/T/N 6.125% 04/15/97 2,500 2,507 2,520
GILLETTE CO NT 4.750% 08/15/96 7,000 6,934 6,946
GOVERNMENT EXP
TR CL A RESTR 6.250% 03/01/97 2,370 2,367 2,370
GREEN TREE FINL
CORP 4.750% 10/15/17 168 165 167
GREEN TREE FINL
CORP 5.850% 01/15/18 1,598 1,605 1,595
HALIFAX BLDG SOC 4.750% 04/29/96 3,000 2,976 2,986
HONDA AUTO
RECEIVABLES
GRANTOR TR 6.200% 12/15/00 22,467 22,460 22,606
HOUSEHOLD CR
CARD TR 7.375% 10/15/97 11,833 11,839 11,835
HOUSEHOLD FIN
CORP V/R 8.150% 03/19/96 3,981 4,022 4,001
HOUSEHOLD FIN
CORP HOME
EQUITY LN 4.750% 05/20/08 5,697 5,685 5,612
HYUNDAI AUTO
RECEIVABLES TR 4.300% 05/15/98 2,584 2,581 2,560
JOHNSON & JOHNSON
M/T/N 8.000% 03/20/96 20,000 20,211 20,136
KFW INTL FIN INC 9.375% 07/15/98 5,000 5,399 5,429
KFW INTL FIN INC
M/T/N 9.600% 05/31/96 2,000 2,031 2,036
-13-
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
11/30/95
(thousands of dollars)
MATURITY AMORTIZED CURRENT
DESCRIPTION COUPON DATE PAR VALUE COST VALUE
- ----------------------------------------------------------------------------
KFW INTL FIN INC
M/T/N 8.450% 11/03/97 $6,300 $6,555 $6,609
KFW INTL FIN INC
M/T/N 9.050% 07/30/97 7,000 7,303 7,365
KEYCORP AUTO
GRANTOR TR 5.800% 07/15/00 8,291 8,272 8,299
LOMAS MTG FDG
CORP II 9.000% 09/20/15 342 341 345
MBNA CR CARD TR 8.250% 06/30/98 1,837 1,845 1,833
MBNA MASTER CR
CARD TR 7.750% 10/15/98 5,000 5,052 5,080
MBNA MASTER CREDIT
CARD TRUST 7.250% 06/15/99 20,000 20,200 20,438
MBNA MASTER
CR CARD TR
SER 1992-2 6.200% 08/15/99 16,700 16,654 16,823
MCDONALDS CORP
SER B M/T/N 8.875% 02/18/97 1,000 1,032 1,032
MERCK & CO INC 7.750% 05/01/96 11,400 11,522 11,487
MERCK & CO INC
M/T/N 6.000% 01/15/97 2,000 1,991 2,006
MIDLANTIC AUTO
GRANTOR TR 4.300% 09/15/97 2,090 2,078 2,080
MOBIL CORP 6.500% 12/17/96 3,000 2,989 3,022
MOBIL CORP 6.500% 02/15/97 9,200 9,258 9,283
MORGAN GTY TR
CO NEW YORK N Y 8.125% 03/15/96 2,000 2,020 2,012
NBD BK N A M/T/N 4.625% 12/02/96 10,000 9,996 9,913
NBD BK N A M/T/N 4.600% 02/03/97 5,000 4,947 4,947
NBD BK N A M/T/N 6.150% 06/03/96 5,000 4,986 5,011
NBD BK N A M/T/N 6.550% 06/02/97 2,000 2,000 2,028
NATIONSBANK CR
CARD MASTER TR 4.750% 09/15/98 35,000 34,989 34,712
NAVISTAR FINL
1993-A OWNER TR 4.475% 10/15/98 1,016 1,015 1,011
NAVISTAR FINL
1995-A OWNER TR 6.550% 11/20/01 15,000 15,123 15,175
NAVISTAR FINL
1995-B OWNER TR 5.940% 10/15/98 9,000 9,000 9,020
NEW ENGLAND TEL &
TELEG CO NT 6.250% 12/15/97 1,000 1,006 1,009
-14-
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
11/30/95
(thousands of dollars)
MATURITY AMORTIZED CURRENT
DESCRIPTION COUPON DATE PAR VALUE COST VALUE
- ----------------------------------------------------------------------------
NIPPON TELE
PHONE & TELE
GRAPH 9.500% 12/19/95 $8,960 $8,968 $8,968
NIPPON TELEG &
TEL CORP 9.500% 07/27/98 10,000 10,748 10,918
NISSAN AUTO
RECEIVABLES
GRANTOR TR 6.100% 08/15/01 20,306 20,319 20,420
NISSAN AUTO
RECEIVABLES
1994-A GRANTOR 6.450% 09/15/99 17,838 17,934 17,969
NISSAN AUTO
RECEIVABLES
1992-B 4.300% 09/15/97 929 920 924
NORTHERN ILL
GAS CO 1ST MTG 4.500% 03/15/96 11,000 10,989 10,956
NORWEST FINL
INC NT 7.100% 11/15/96 2,300 2,345 2,330
NORWEST FINL INC 6.250% 02/15/97 7,750 7,736 7,785
NORWEST FINL INC
SHELF 41 6.500% 05/15/97 13,850 13,920 14,008
NORWEST CORP M/T/N 7.700% 11/15/97 5,000 5,152 5,185
NORWEST FINL INC
M/T/N 5.200% 04/29/97 1,000 980 990
OLYMPIC AUTO
MOBILE
RECEIVABLES TR 5.650% 01/15/01 2,691 2,688 2,687
OLYMPIC AUTOMOBILE
RECEIVABLES TR 6.850% 06/15/01 8,132 8,115 8,286
PEOPLES BK CR
CARD MASTER TR 4.800% 12/15/99 24,300 24,291 24,197
PEOPLES BK
CR CARD
MASTER TR 5.100% 08/15/97 25,000 24,996 24,859
PFIZER INC 7.125% 10/01/96 29,750 30,354 30,074
PFIZER INC 6.500% 02/01/97 2,000 2,003 2,017
PITNEY BOWES
CR CORP 5.625% 02/15/97 20,500 20,397 20,481
PITNEY BOWES CR
CORP 6.250% 06/01/98 5,000 5,032 5,062
PREMIER AUTO TR 4.900% 10/15/98 15,431 15,393 15,341
PREMIER AUTO TR 4.900% 12/15/98 12,000 12,020 11,920
-15-
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
11/30/95
(thousands of dollars)
MATURITY AMORTIZED CURRENT
DESCRIPTION COUPON DATE PAR VALUE COST VALUE
- ----------------------------------------------------------------------------
PREMIER AUTO TR
1993-5
ASSET BACKED NT 4.220% 03/02/99 $4,573 $4,568 $4,490
PREMIER AUTO TR 4.750% 02/02/00 2,984 2,984 2,953
PREMIER AUTO TR 6.350% 05/02/00 7,240 7,221 7,323
PREMIER AUTO TR 6.450% 05/15/98 8,400 8,410 8,498
PREMIER AUTO TR 6.650% 11/02/98 4,650 4,674 4,734
PREMIER AUTO TR 6.650% 03/04/97 4,982 4,980 4,996
PREMIER AUTO TRUST 6.850% 10/04/97 5,000 4,996 5,048
PREMIER AUTO TR 5.900% 07/06/99 5,000 4,998 5,029
PROCTER & GAMBLE
CO NT 6.850% 06/01/97 21,500 21,645 21,839
RCSB 1991-B
GRANTOR TR 6.700% 04/15/97 835 834 835
RABOBANK NEDER
LAND M/T/N 4.500% 01/25/96 3,000 2,999 2,994
RABOBANK NEDER
LAND M/T/N 4.550% 03/01/96 5,000 5,000 4,985
RABOBANK NEDER
LAND M/T/N 6.450% 01/17/97 3,000 2,989 3,030
RABOBANK NEDER
LAND M/T/N 6.625% 05/26/97 3,000 2,995 3,047
RABOBANK NEDER
LAND M/T/N 6.640% 04/25/97 4,000 4,007 4,060
RABOBANK NEDER
LAND M/T/N 6.660% 03/03/97 5,000 5,005 5,062
REPUBLIC N Y CORP 8.375% 05/01/96 3,720 3,770 3,754
RESIDENTIAL FDG
MTG SECS I
INC MTG PASS 5.500% 02/25/08 2,676 2,676 2,664
SCFC RECREATIONAL
VEH LN TR 7.250% 09/15/06 5,797 5,801 5,835
SPNB HOME EQUITY
LN ASSET
BKD CTF 8.100% 06/15/20 1,704 1,741 1,767
SAAB 1992-A TRUST
SR CTF RESTR 6.100% 06/15/98 583 582 589
SARA LEE CORP
M/T/N 4.650% 01/14/97 13,000 12,981 12,847
SEARS CR ACCOUNT
MASTER TR I 5.900% 11/15/98 24,885 24,915 24,924
SEARS CR ACCOUNT
MASTER TR II 6.250% 01/15/03 20,000 20,010 20,292
-16-
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
11/30/95
(thousands of dollars)
MATURITY AMORTIZED CURRENT
DESCRIPTION COUPON DATE PAR VALUE COST VALUE
- ----------------------------------------------------------------------------
SEARS CR ACCOUNT
TR 8.850% 03/15/98 $5,500 $5,522 $5,550
SEARS CR ACCOUNT
TRUST 8.600% 05/15/96 5,000 5,037 5,066
SHELL OIL CO 7.700% 02/01/96 9,000 9,041 9,022
SHELL OIL CO 6.000% 01/15/97 23,565 23,423 23,622
GABS SIGNET TR
93-3A 4.850% 12/15/96 35,000 34,990 34,726
SIGNET MASTER TR
SER 1994-4
ASSET BACKED 6.800% 08/15/97 20,000 19,986 20,431
STANDARD CR CARD
TR 94-1A 4.650% 03/07/99 50,000 49,784 49,435
STANDARD CR CARD
MASTER TR I 6.750% 06/07/00 5,000 5,025 5,119
THE MONEY STORE
HOME EQUITY
TR V/R 6.100% 05/15/22 6,643 6,649 6,484
TMS HOME EQUITY
LN TR 5.175% 07/15/06 6,269 6,318 6,173
TOYOTA AUTO
RECEIVABLES 5.850% 03/15/01 27,460 27,412 27,500
TOYOTA MTR CR CORP
M/T/N 6.875% 10/15/96 5,000 5,000 5,053
TOYOTA MTR CR CORP
M/T/N 6.625% 04/15/96 5,000 4,984 5,014
TOYOTA MTR CR CORP
M/T/N 7.700% 01/23/97 5,000 5,038 5,108
UBS FIN DEL INC
M/T/N 6.200% 10/01/98 15,000 15,012 15,213
USAA CAP CORP
144A M/T/N 4.490% 10/28/96 20,000 20,000 19,770
USAA CAP CORP
M/T/N 144A 4.760% 01/28/97 10,000 10,000 9,896
UNILEVER CAP CORP 8.875% 03/26/98 7,900 8,299 8,423
WACHOVIA BK
N C N A M/T/N 5.000% 01/29/96 11,600 11,600 11,584
WACHOVIA BK
N C N A M/T/N 4.875% 02/18/97 5,000 4,983 4,961
WACHOVIA BK
N C M/T/N 6.550% 06/09/97 5,000 4,988 5,071
-17-
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
11/30/95
(thousands of dollars)
MATURITY AMORTIZED CURRENT
DESCRIPTION COUPON DATE PAR VALUE COST VALUE
- ----------------------------------------------------------------------------
WACHOVIA BK
N C N A M/T/N 6.650% 07/14/97 $10,000 $9,987 $10,164
WAL MART STORES
INC 8.000% 05/01/96 7,170 7,254 7,231
WAL MART STORES
INC 5.500% 09/15/97 14,945 14,688 14,887
WAL MART STORES
INC SR NT 5.500% 03/01/98 13,150 12,963 13,061
WARNER LAMBERT CO
DEB 8.125% 04/24/96 4,600 4,638 4,646
WISCONSIN ELEC
PWR CO 1ST MTG 4.500% 03/15/96 6,000 6,000 5,977
WORLD OMNI
AUTOMOBILE LEASE 6.050% 11/25/01 10,000 10,000 10,050
WORLD OMNI 1994-A
AUTOMOBILE 6.450% 09/25/00 3,100 3,069 3,118
EUROPEAN INVT BK 7.750% 07/09/96 8,000 8,150 8,092
SHIKOKU ELECTRIC
POWER 10.250% 04/26/96 10,000 10,217 10,150
HEWLETT PACKARD
FIN CO DEB 7.500% 12/05/97 15,000 15,367 15,506
INTERNATIONAL
FINANCE CORP
DEB 5.125% 02/09/96 10,000 10,008 9,978
TOYOTA MOTOR
CREDIT CORP 6.500% 02/04/97 10,000 10,117 10,088
TOYOTA MTR CR
CORP SR UNSUB 5.000% 03/10/97 5,000 4,897 4,959
----------------------------------
TOTAL CORPORATE BONDS $1,798,291 $1,804,852 $1,809,755
OTHER BONDS
AFRICAN DEV BK 9.500% 12/15/95 $6,000 $6,005 $6,005
ABBEY NATL TREAS
CO GTD 5.000% 01/31/97 30,000 29,506 29,775
ASIAN DEV BK BD 10.750% 06/01/97 2,000 2,131 2,140
BELGIUM KINGDOM 5.280% 01/12/96 10,000 10,006 9,925
BRITISH TELECOM
FIN BV 7.625% 09/30/96 23,235 23,735 23,570
CANADIAN GOVT
SEDOL #416942 9.000% 02/27/96 40,590 40,973 40,829
-18-
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
11/30/95
(thousands of dollars)
MATURITY AMORTIZED CURRENT
DESCRIPTION COUPON DATE PAR VALUE COST VALUE
- ----------------------------------------------------------------------------
DENMARK KINGDOM NT 7.750% 12/15/96 $3,000 $3,070 $3,059
DU PONT E I
NEMOURS & CO 8.500% 04/17/96 10,000 10,141 10,078
EXPORT IMPORT
BK JAPAN 10.125% 10/28/97 2,000 2,137 2,156
GUINNESS FINANCE 9.000% 01/08/96 5,000 5,017 5,006
HALIFAX BUILDING
SOCIETE 5.000% 06/21/96 10,000 10,030 9,956
INTER AMERICAN
DEV BANK 8.375% 12/27/95 13,190 13,223 13,206
JAPAN FINL CORP 9.875% 02/23/96 5,000 5,053 5,038
JOHNSON & JOHNSON
M/T/N 8.220% 03/20/98 5,000 5,242 5,265
KANSAI ELEC PWR
EURO 10.000% 03/30/96 10,000 10,155 10,119
MOUNTAIN STS TEL
& TEL EURO 7.625% 05/15/96 11,000 11,131 11,688
NATIONSBANK AUTO
GRANTOR TR. 5.850% 06/15/02 15,000 14,995 14,995
NIPPON TELE &
TELE 8.500% 12/20/96 4,000 4,105 4,105
OESTERREICHISCHE
KONTROLL
BANK A G 7.125% 12/06/96 3,000 3,041 3,041
OSPREY MTG
SECS LTD NO.7
CL A2 MTG BK 5.250% 07/10/97 6,500 6,537 6,441
QUANTAS AIRWAYS
SEDOL# 471544 8.625% 03/27/96 2,445 2,453 2,465
SBC FIN (CAYMAN)
LTD DEB 7.750% 09/11/96 6,000 6,111 6,092
SAINSBURY J 8.500% 05/09/96 3,000 3,047 3,031
SAINSBURY J 9.125% 10/02/96 3,000 3,104 3,079
SPAIN KINGDOM
M/T/N 8.400% 06/13/96 5,000 5,057 5,079
SPAIN (KINGDOM
OF) M/T/N 8.750% 12/22/97 4,000 4,193 4,263
KINGDOM OF SPAIN
M/T/N 8.650% 12/15/95 1,870 1,873 1,871
TOKYO METROPOLIS
JAPAN GTD 10.375% 10/20/97 2,300 2,481 2,485
UNILEVER CAP CORP 8.000% 05/28/96 25,150 25,513 25,386
-19-
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
11/30/95
(thousands of dollars)
MATURITY AMORTIZED CURRENT
DESCRIPTION COUPON DATE PAR VALUE COST VALUE
- ----------------------------------------------------------------------------
BELGIUM KINGDOM
DEB 8.000% 02/11/97 $11,700 $11,860 $11,992
CHUBU ELECTRIC
POWER 7.000% 03/26/96 10,100 10,178 10,131
DENMARK KINGDOM
UNSUB 7.250% 09/25/96 5,175 5,279 5,235
ABB INTL FIN NV
KEEPWELL
AGREEMENT 6.375% 02/20/96 19,000 19,065 19,000
NEW ZEALAND
GOVT DEB 8.000% 04/02/97 2,075 2,108 2,132
INTER AMERICAN
DEV BK EURO 7.625% 09/10/96 9,400 9,612 9,541
INTERNATIONAL BK FOR
RECON & DEV DEB 9.750% 05/10/96 21,000 21,463 21,341
INTERNATIONAL BK FOR
RECON DEV 9.875% 10/01/97 9,780 10,434 10,496
SWEDEN KINGDOM
DEB 5.500% 12/01/95 20,400 20,400 20,400
--------------------------------
TOTAL OTHER BONDS $375,910 $380,464 $380,416
GOVERNMENT BONDS
FEDERAL FARM CR
BKS CONS
M/T/N 6.780% 03/21/97 $11,000 $11,015 $11,167
FEDERAL FARM
CR BKS
CONS M/T/N 5.950% 06/06/97 15,000 15,023 15,105
FEDERAL HOME
LOAN BANK 8.250% 09/25/96 4,325 4,379 4,416
FEDERAL HOME
LOAN BANK 8.250% 11/25/96 3,065 3,112 3,143
FEDERAL HOME
LN BKS 4.380% 03/04/96 4,000 3,975 3,986
FEDERAL HOME LN
BKS CONS BD 7.145% 01/26/96 10,000 10,006 10,020
FEDERAL HOME
LN BKS 6.850% 02/28/96 5,000 5,003 5,013
-20-
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
11/30/95
(thousands of dollars)
MATURITY AMORTIZED CURRENT
DESCRIPTION COUPON DATE PAR VALUE COST VALUE
- ----------------------------------------------------------------------------
FEDERAL HOME
LN BKS 6.940% 03/14/97 $5,000 $5,051 $5,085
FEDERAL HOME
LN BKS 6.995% 11/08/96 8,000 7,986 8,098
FEDERAL HOME
LOAN BANK CONS 6.525% 07/11/97 9,465 9,446 9,604
FEDERAL HOME LN
BKS CONS BD 6.440% 07/25/97 10,000 9,958 10,137
FEDERAL HOME LN
BKS 7.310% 01/04/96 5,000 5,003 5,006
FEDERAL HOME LN
BKS CONS BD 6.645% 08/28/97 3,320 3,349 3,379
FEDERAL HOME LN
BKS DEB 5.545% 06/09/97 5,000 4,987 5,000
FEDERAL HOME LN
BK 5.740% 06/23/97 10,000 9,982 10,030
FEDERAL HOME LN
BKS M/T/N 6.235% 05/30/97 5,000 4,997 5,050
FEDERAL HOME LN
BKS 6.875% 11/18/96 4,825 4,821 4,885
FEDERAL HOME LOAN
BANK DISCOUNT N/A 01/16/96 5,000 4,952 4,952
FEDERAL HOME LN
MTG CORP DEB 7.750% 01/27/97 16,000 16,201 16,385
FEDERAL HOME LN
MTG CORP DEB 6.840% 02/28/96 10,000 10,007 10,025
FEDERAL HOME LN
MTG CORP NT 6.790% 02/20/96 25,000 25,000 25,055
FEDERAL HOME LN
MTG CORP DEB 5.470% 03/21/97 5,000 4,981 4,995
FEDERAL HOME LN
MTG CORP 4.125% 10/21/96 5,000 4,886 4,935
FEDERAL HOME LN
MTG CORP DEB 7.860% 01/21/97 10,000 10,158 10,248
FEDERAL HOME LN
MTG CORP REMIC 7.860% 01/15/97 1,500 1,521 1,537
FEDERAL NATL MTG
ASSN 8.000% 07/10/96 5,000 5,030 5,070
FEDERAL NATL MTG
ASSN AGEN 8.150% 08/12/96 2,000 2,020 2,035
FEDERAL NAT'L
MTGE ASSN
SER E 9.550% 09/10/97 5,000 5,318 5,338
-21-
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
11/30/95
(thousands of dollars)
MATURITY AMORTIZED CURRENT
DESCRIPTION COUPON DATE PAR VALUE COST VALUE
- ----------------------------------------------------------------------------
FEDERAL NATL MTG
ASSN M/T/N 7.070% 11/18/96 $5,000 $5,015 $5,070
FEDERAL NATL MTG
ASSN M/T/N 6.150% 06/23/97 10,000 9,949 10,102
FEDERAL NATL MTG
ASSN M/T/N 6.770% 04/14/97 10,000 10,015 10,149
FEDERAL NATL MTG
ASSN M/T/N 5.830% 09/15/97 5,000 4,992 5,027
FEDERAL NAT'L MTGE
ASSN M/T/N 5.650% 10/20/97 10,000 9,981 10,030
U S TREASURY NOTES 4.750% 02/15/97 10,000 9,991 9,919
U S TREASURY NOTES 6.500% 05/15/97 10,000 10,008 10,152
--------------------------------
TOTAL GOVERNMENT BONDS $267,500 $268,118 $270,148
COMMERCIAL PAPER
AMERICAN EXPRESS CR
CO C/P CPDS N/A 01/26/96 $15,000 $14,865 $14,865
FORD MOTOR CR
COMPANY CPDS N/A 02/07/96 20,000 19,781 19,781
GENERAL ELEC CAP
CORP DISC
C/P CPDS N/A 01/08/96 10,000 9,700 9,700
GENERAL ELEC CAP
CORP DISC
C/P CPDS N/A 01/12/96 5,000 4,847 4,847
GENERAL ELEC CAP
CORP DISC
C/P CPDS N/A 12/08/95 30,000 29,890 29,890
WARNER LAMBERT CO
CPDS N/A 12/18/95 10,000 9,722 9,722
ASSOC CORP OF
NO. AMER CPDS N/A 12/04/95 20,000 19,939 19,939
--------------------------------
TOTAL COMMERCIAL PAPER $110,000 $108,744 $108,744
-22-
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
11/30/95
(thousands of dollars)
MATURITY AMORTIZED CURRENT
DESCRIPTION COUPON DATE PAR VALUE COST VALUE
- ----------------------------------------------------------------------------
CERTIFICATE OF DEPOSITS
AMERICAN EXPRESS
CENTURION
BK C/D 6.400% 04/28/98 $2,000 $1,995 $2,022
BAYERISHE LANDES
BANK C/D 6.300% 02/23/96 6,000 5,989 6,014
DEUTSCHE BK AG
C/D V/R 7.498% 01/21/96 20,000 20,209 20,334
DRESDNER BANK
A G NY
BRANCH C/D 5.400% 12/21/95 2,000 2,001 2,000
MBNA AMER BK
N A NEWARK
DEL C/D 4.100% 10/15/96 5,000 4,987 4,957
MBNA AMER BK
N A NEWARK
DEL C/D 4.300% 09/03/96 10,000 9,977 9,936
MBNA AMER BK
N A NEWARK
DEL C/D 4.250% 09/09/96 5,000 4,986 4,968
MBNA AMER BK
N A NEWARK
DEL C/D 4.200% 09/30/96 10,000 9,973 9,927
MERCANTILE SAFE
DEP & TR CO C/D 4.770% 03/29/96 10,000 10,000 9,985
MERCANTILE SAFE
DEP & TR CO C/D 6.820% 01/08/96 5,000 5,000 5,070
MERCANTILE SAFE
DEP & TR
CO N/T C/D 6.850% 04/04/96 5,000 5,000 5,027
MERCANTILE-SAFE
DEP & TR
CO N/T C/D 6.850% 04/04/96 5,000 5,000 5,027
OLD KENT BK &
TR CO C/D 4.650% 05/15/96 10,000 10,000 9,978
OLD KENT BANK
AND TR CO C/D 6.560% 05/30/97 5,000 5,000 5,048
----------------------------------
TOTAL CERTIFICATE
OF DEPOSITS $100,000 $100,117 $100,293
----------------------------------
TOTAL FIXED INCOME
SECURITIES $2,651,701 $2,662,295 $2,669,356
-23-
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
11/30/95
(thousands of dollars)
MATURITY AMORTIZED CURRENT
DESCRIPTION COUPON DATE PAR VALUE COST VALUE
- ----------------------------------------------------------------------------
SHORT TERM INVESTMENTS
BEAR STEARNS
MASTER NOTE N/A N/A $27,201 $27,201 $27,201
NOMURA SECURITIES
INTL MASTER NOTE N/A N/A 25,000 25,000 25,000
BANK OF NEW YORK
SHORT TERM INVEST-
MENTS N/A N/A 12,052 12,052 12,052
-------------------------------
TOTAL SHORT TERM
INVESTMENTS $64,253 $64,253 $64,253
PARTICIPANT LOANS
(ANNUAL INTEREST RATES
FROM 10.5 TO 6.5,
MAXIMUM PERIOD
OF REPAYMENT
IS 60 MONTHS) N/A N/A $158,790 $158,790 $158,790
--------------------------------
TOTAL COMMON ASSET
INVESTMENTS $2,874,744 $2,885,338 $2,892,399
==================================
-24-
EXHIBIT 1
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
11/30/95
(thousands of dollars)
SHARES/ CURRENT
FUND/ISSUE UNITS COST VALUE
- -------------------------------------- --------------------------------
EXXON CORPORATION PREFERRED
STOCK FUND
- ---------------------------
EXXON CORPORATION CLASS
A PREFERRED STOCK
(thousands of shares) 7,552 $464,477 $584,373
SHORT TERM INVESTMENTS
NOMURA SECS INTL MASTER NOTE $12,239 $12,239 $12,239
BEAR STEARNS MASTER NOTE 500 500 500
--------------------------------
TOTAL SHORT TERM INVESTMENTS $12,739 $12,739 $12,739
EXXON CORPORATION COMMON
STOCK FUND
- -----------------------------
EXXON CORPORATION COMMON
STOCK (thousands of shares) 42,383 $1,954,982 $3,279,397
EQUITY PORTFOLIO FUND
- ----------------------------
BZW EQUITY INDEX FUND
(thousands of units) 3,163 $240,186 $428,716
EXTENDED MARKET PORTFOLIO
FUND
- ----------------------------
BZW EXTENDED EQUITY INDEX
FUND (thousands of units) 10,428 $112,391 $135,879
-25-
EXHIBIT 2
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
ITEM 27d-SCHEDULE OF REPORTABLE TRANSACTIONS
NOVEMBER 30, 1995
(thousands of dollars)
Identity of Party Involved: Exxon Corporation
Description of Asset: Exxon Corporation Common Stock
Total Total Total Total
Number Number Dollar Dollar
of of Value of Value of Net
Purchases Sales Purchases Sales Gain
- --------- ----- --------- -------- ----
7,104,460 8,688,903 $479,377 $602,250 $78,087
Schedule prepared following the alternative format prescribed
at 29 CFR 2520.103-6(d)(2) for a series of transactions
involving securities of the same issue as described at 29
CFR 2520.103-6(c)(1)(iii).
-26-
REPORT OF INDEPENDENT ACCOUNTANTS
---------------------------------
To the Trustee of the Thrift Fund
In our opinion, the financial statements (pages 2-8) listed in the
accompanying index present fairly, in all material respects, the net
assets available for benefits of the Thrift Plan of Exxon Corporation
and Participating Affiliates (the Thrift Plan) at November 30, 1995
and 1994, and the changes in its net assets available for benefits
for the year ended November 30, 1995, in conformity with generally
accepted accounting principles. These financial statements are the
responsibility of the Trustee of the Thrift Plan; our responsibility
is to express an opinion on these financial statements based on our
audits. We conducted our audits of these statements in accordance
with generally accepted auditing standards which 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, assessing the accounting
principles used and significant estimates made by the Trustee of the
Thrift Plan, and evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis
for the opinion expressed above.
Our audits were performed for the purpose of forming an opinion on the
basic financial statements taken as a whole. The supplemental
schedules of assets held for investment purposes and reportable
transactions are presented for purposes of additional analysis and
are not a required part of the basic financial statements but are
supplementary information required by ERISA. The Fund Information in
the statement of net assets available for benefits and the statement of
changes in net assets available for benefits is presented for purposes of
additional analysis rather than to present the statement of net assets
available for benefits and the statement of changes in net assets
available for benefits of each fund. The supplemental schedules and
Fund Information have been subjected to the auditing procedures applied
in the audits of the basic financial statements and, in our opinion,
are fairly stated in all material respects in relation to the basic
financial statements taken as a whole.
PRICE WATERHOUSE LLP
Houston, Texas
February 15, 1996
-27-
CONSENT OF INDEPENDENT ACCOUNTANTS
----------------------------------
We hereby consent to the incorporation by reference in the
Registration Statement on Form S-8 (No. 33-19057) and the related
Prospectus for the Thrift Plan of Exxon Corporation and
Participating Affiliates of our report dated February 15,
1996 appearing on page 27 of this Annual Report on Form 11-K.
PRICE WATERHOUSE LLP
Houston, Texas
February 15, 1996
-28-
SIGNATURES
----------
Pursuant to the requirements of the Securities Exchange Act of 1934, the
trustees (or other persons who administer the Plan) have duly caused this
Annual Report to be signed by the undersigned hereunto duly authorized.
THRIFT PLAN OF EXXON CORPORATION
AND PARTICIPATING AFFILIATES
(Name of Plan)
/s/ Edgar A. Robinson
_________________________
Edgar A. Robinson
Chairman, Thrift Trustee
Dated: February 15, 1996
-29-