DRIP PORTFOLIO
Drip Transactions

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Below is a list of the monthly investment transactions made by the real-money Drip Portfolio. Every month we save $100 and invest it in our various companies. The Drip Portfolio's first purchase was Intel in September 1997. Our second purchase was Johnson & Johnson in November of that year, followed by Campbell Soup in April 1998 (we closed that position in January 2002). Mellon Financial was our fourth buy, announced October 1998. Fifth was PepsiCo. Our sixth new purchase was payroll-services provider Paychex, first bought in February 2002. We hope to invest regularly in these leading companies to reach our $150,000 portfolio value goal by 2017.

For more details on these holdings and for the research that led to the buy decisions, please see the portfolio Stock Information pages.

Step by step, and drip by drip, we're working to build value. Imagine what this page will look like 19 years from now, including all the reinvested dividends. (A bittersweet nightmare!) Fool on!

11/15/02: Rec'd 0.2372 MEL Div. at $28.0316 ($6.65 worth)
11/15/02: Rec'd 0.041 PAYX Div. at $27.75 ($1.14 worth)
09/27/02: Rec'd 0.0614 PEP Div. at $37.6141 ($2.31 worth)
09/10/02: Rec'd 0.148 JNJ Div. at $55.083 ($8.17 worth)
09/06/02: Rec'd 0.075 INTC Div. at $16.07 ($1.20 worth)
08/15/02: Rec'd 0.049 PAYX Div. at $23.18 ($1.13 worth)
08/15/02: Rec'd 0.2118 MEL Div. at $26.6783 ($5.65 worth)
08/12/02: Bought 3.8797 MEL at $25.775 ($100 worth)
07/15/02: Bought 2.4853 PEP at $40.237 ($100 worth)
07/08/02: Bought 3.3154 MEL at $30.1625 ($100 worth)
07/08/02: Bought 1.866 JNJ at $53.584 ($100 worth)
07/03/02: Bought 3.418 PAYX at $29.26 ($100 worth)
06/28/02: Rec'd 0.0393 PEP Div. at $49.1579 ($1.93 worth)
06/11/02: Rec'd 0.134 JNJ Div. at $58.051 ($7.76 worth)
06/06/02: Rec'd 0.044 INTC Div. at $27.129 ($1.20 worth)
05/15/02: Rec'd 0.02 PAYX Div. at $36.60 ($0.75 worth)
05/15/02: Rec'd 0.136 MEL Div. at $38.525 ($5.24 worth)
03/29/02: Rec'd 0.0363 PEP Div. at $51.234 ($1.86 worth)
03/12/02: Rec'd 0.103 JNJ Div. at $63.34 ($6.51 worth)
03/12/02: Bought 1.579 JNJ at $63.34 ($100 worth)
03/06/02: Rec'd 0.039 INTC Div. at $30.43 ($1.20 worth)
02/15/02: Rec'd 0.143 MEL Div. at $36.511 ($5.22 worth)
02/05/02: Bought 6.857 PAYX at $36.45 ($250 worth -- Drip enrollment)
02/05/02: Rec'd $1.37 cash CPB dividend
01/28/02: Sold 8.691 CPB (all shares) at $28.695 ($249.39 minus $16.08 fee)
01/02/02: Rec'd 0.0379 PEP Div. at $49.08 ($1.86 worth)
12/11/01: Rec'd 0.115 JNJ Div. at $56.49 ($6.49 worth)
12/06/01: Rec'd 0.037 INTC Div. at $32.3933 ($1.20 worth)
11/15/01: Rec'd 0.1398 MEL Div. at $37.195 ($5.20 worth)
11/06/01: Bought 3.979 INTC at $25.1312 ($100 worth)
10/31/01: Rec'd 0.045 CPB Div. at $28.539 ($1.29 plus $0.07 fee)
10/08/01: Bought 3.0689 MEL at $32.585 ($100 worth)
09/28/01: Rec'd 0.381 PEP Div. at $48.5619 ($1.85 worth)
09/11/01: Rec'd 0.116 JNJ Div. at $55.804 ($6.47 worth)
09/07/01: Rec'd 0.04 INTC Div. at $27.77 ($1.12 worth)
08/15/01: Rec'd 0.244 MEL Div. at $39.383 ($9.61 worth)
08/06/01: Bought 1.625 INTC at $30.7778 ($50 worth)
07/31/01: Rec'd 0.067 CPB Div. at $27.499 ($1.83 worth after $0.10 fee)
07/16/01: Bought 1.073 PEP at $46.6 ($50 worth)
06/29/01: Rec'd 0.0337 PEP Div. at $45.0753 ($1.52 worth)
06/15/01: Bought 1.1515 PEP at $43.42 ($50 worth)
06/12/01: Bought 0.986 JNJ at $50.717 ($50 worth)
06/12/01: Rec'd 0.1236 JNJ Div. at $50.717 ($6.27 worth)

*Note for records: JNJ Split 2-for-1 on 6/22/01

06/06/01: Rec'd 0.038 INTC Div. at $28.36 ($1.09 worth)
05/15/01: Rec'd 0.2222 MEL Div. at $42.96 ($9.56 worth)
05/15/01: Bought 2.2228 PEP at $44.9887 ($100 worth)
04/30/01: Rec'd 0.059 CPB Div. at $30.97 ($1.82 worth after $0.10 fee)
04/09/01: Bought 0.548 JNJ at $91.28 ($50 worth)
04/05/01: Bought 1.938 INTC at $25.794 ($50 worth)
03/30/01: Rec'd 0.0266 PEP Div. at $43.177 ($1.15 worth)
03/13/01: Rec'd 0.058 JNJ Div. at $93.047 ($5.38 worth)
03/06/01: Rec'd 0.037 INTC Div. at $28.0471 ($1.05 worth)
03/05/01: Bought 2.1561 MEL at $46.38 ($100 worth)
02/15/01: Bought 1.0752 PEP at $46.5039 ($50 worth)
02/15/01: Rec'd 0.1709 MEL Div. at $48.265 ($8.25 worth)
02/07/01: Bought 0.529 JNJ at $94.509 ($50 worth)
01/31/01: Rec'd 0.055 CPB Div. at $32.878 ($1.80 worth after $0.10 fee)
01/02/01: Rec'd 0.0174 PEP Div. at $49.3738 ($0.86 worth)
01/02/01: Bought 1.0127 PEP at $49.3738 ($50 worth)
12/12/00: Rec'd 0.053 JNJ Div. at $97.452 ($5.20 worth)
12/06/00: Bought 2.745 INTC at $36.4363 ($100 worth)
12/06/00: Rec'd 0.027 INTC Div. at $36.4363 ($0.99 worth)
11/30/00: Bought 1.12 PEP at $44.6431 ($50 worth)
11/15/00: Rec'd 0.1718 MEL Div. at $47.78125 ($8.25 worth)
11/07/00: Bought 0.542 JNJ at $92.218 ($50 worth)
11/06/00: Bought 1.088 INTC at $45.9375 ($50 worth)
10/31/00: Rec'd 0.062 CPB Div. at $29.10 ($1.80 worth after $0.09 fee)
10/05/00: Bought 2.45 INTC at $40.8209 ($100 worth)
09/18/00: Bought 2.1958 MEL at $45.541 ($100 worth)
09/12/00: Bought 0.625 JNJ at $96.071 ($60 worth)
09/12/00: Rec'd 0.05 JNJ Div. at $96.071 ($4.81 worth)
09/07/00: Rec'd 0.012 INTC Div. at $75.21 ($0.92 worth)
08/15/00: Rec'd 0.1802 MEL Div. at $42.677 ($7.69 worth)

*Note for records: INTC Split 2-for-1 on 8/1/00

07/31/00: Rec'd 0.066 CPB Div. at $27.149 ($1.79 worth after $0.09 fee)
07/28/00: Bought 5 PEP at $48 each (including $15 commission)
06/13/00: Rec'd 0.054 JNJ Div. at $88.215 ($4.79 worth)
06/06/00: Rec'd 0.005 INTC Div at $128.829 ($0.69 worth)
05/15/00: Rec'd 0.2078 MEL Div. at $33.4479 ($6.95 worth)
05/08/00: Bought 3.1548 MEL at $31.697 ($100 worth)
05/01/00: Rec'd 0.068 CPB Div. at $25.892 ($1.77 worth)($0.09 fee)
04/07/00: Bought 1.642 JNJ at $75.78 ($124.46 worth)
03/07/00: Rec'd 0.048 JNJ Div. at $68.287 ($3.31 worth)
03/07/00: Bought 1.464 JNJ at $68.287 ($100 worth)
03/06/00: Rec'd 0.006 INTC Div. at $114.90 ($0.69 worth)
02/15/00: Rec'd 0.1985 MEL Div. at $31.635 ($6.28 worth)
01/31/00: Bought 3.0047 MEL at $33.281 ($100 worth)
01/31/00: Rec'd 0.057 CPB Div. at $30.622 ($1.76 worth)($0.09 fee)
01/07/00: Bought 0.519 JNJ at $96.26 ($50 worth)
01/06/00: Bought 0.589 INTC at $84.8616 ($50 worth)
12/07/99: Rec'd 0.034 JNJ Div. at $93.958 ($3.15 worth)
12/06/99: Bought 2.7103 MEL at $36.8958 ($100 worth)
12/06/99: Rec'd 0.009 INTC Div. at $76.275 ($0.67 worth)
11/15/99: Rec'd 0.1371 MEL Div. at $37.28125 ($5.11 worth)
11/04/99: Bought 1.298 INTC at $77.0406 ($100 worth)
11/01/99: Rec'd 0.038 CPB Div. at $45.583 ($1.75 worth)($0.09 fee)
10/07/99: Bought 1.043 JNJ at $95.866 ($100 worth)
09/13/99: Bought 2.9349 MEL at $34.072 ($100 worth)
09/07/99: Rec'd 0.028 JNJ Div. at $101.858 ($2.85 worth)
09/07/99: Rec'd 0.007 INTC Div. at $84.7227 ($0.63 worth)
08/16/99: Rec'd 0.1384 MEL Div. at $32.437 ($4.49 worth)
08/09/99: Bought 1.084 JNJ at $92.216 ($100 worth)
08/02/99: Rec'd 0.040 CPB Div. at $44.012 ($1.74 worth)($0.09 fee)
07/01/99: Bought 1.587 INTC at $63.025 ($100 worth)
06/07/99: Bought 2.8803 MEL at $34.718 ($100 worth)
06/01/99: Rec'd 0.011 INTC Div. at $52.913 ($0.58 worth)
05/17/99: Rec'd 0.0921 MEL Div. at $36.36 ($3.35 worth)
05/10/99: Bought 2.7126 MEL at $36.864 ($100 worth)

*Note for records: MEL Split 2-for-1

05/03/99: Rec'd 0.042 CPB Div. at $41.332 ($1.72 worth)($0.09 fee)

*Note for records: INTC Split 2-for-1

03/29/99: Bought 1.4074 MEL at $71.0524 ($100 worth)
03/09/99: Rec'd 0.024 JNJ Div. at $89.563 ($2.15 worth)
03/09/99: Bought 0.447 JNJ at $89.563 ($40 worth)
03/08/99: Bought 1.4596 MEL at $68.51 ($100 worth)
03/04/99: Rec'd 0.003 INTC Div. at $116.816 ($0.39 worth)
02/08/99: Bought 1.5228 MEL at $65.66 ($100 worth)
02/01/99: Rec'd 0.037 CPB Div. at $46.868 ($1.72 worth)($0.09 fee)
01/29/98: Rec'd $1.44 MEL dividend payment
01/04/99: Bought 1.4579 MEL at $68.59375 ($100 worth)
12/08/98: Rec'd 0.027 JNJ Div. at $80.025 ($2.14 worth)
12/07/98: Bought 1.5365 MEL at $65.083 ($100 worth)
12/01/98: Rec'd 0.0036 INTC Div. at $109.4462 ($0.39 worth)
11/09/98: Bought 0.728 JNJ at $82.449 ($60 worth)
11/02/98: Rec'd 0.028 CPB Div. at $56.792 ($1.61 worth)($0.08 fee)
10/30/98: Rec'd $0.36 MEL Dividend payment
10/07/98: Bought 1.286 JNJ at $77.754 ($100 worth)
10/07/98: Bought 1.0 MEL at $48.56 (plus $15 fee)
09/08/98: Rec'd 0.021 JNJ Div. at $77.371 ($1.64 worth)
09/02/98: Bought 3.902 CPB at $51.25 ($200 worth)
09/01/98: Rec'd 0.0038 INTC Div. at $75.5479 ($0.29 worth)
08/07/98: Bought 0.533 JNJ at $74.994 ($40 worth)
08/03/98: Rec'd 0.012 CPB Div. at $54.767 ($0.63 worth)
07/31/98: Bought 1.096 CPB at $54.767 ($60 worth)
07/07/98: Bought 0.475 JNJ at $73.712 ($35 worth)
07/01/98: Bought 0.34 INTC at $73.529 ($25 worth)
06/30/98: Bought 0.748 CPB at $53.489 ($40 worth)
06/09/98: Bought 0.418 JNJ at $71.831 ($30 worth)
06/09/98: Rec'd 0.018 JNJ Div. at $71.831 ($1.27 worth)
06/01/98: Rec'd 0.0039 INTC Div. at $68.80 ($0.27 worth)
05/29/98: Bought 1.269 CPB at $55.164 ($70 worth)
05/07/98: Bought 1.0 JNJ at $69.984 ($70 worth)
05/01/98: Bought 0.3649 INTC at $82.215 ($30 worth)
04/13/98: Bought 1.0 CPB at $53.69 (plus $15 fee)
04/07/98: Bought 0.929 JNJ at $75.316 ($70 worth)
04/01/98: Bought 0.3897 INTC at $76.98 ($30 worth)
03/10/98: Bought 0.665 JNJ at $75.197 ($50 worth)
03/10/98: Rec'd 0.007 JNJ Div. Reinv. at $75.197 ($0.55 worth)
03/02/98: Bought 0.5565 INTC at $89.853 ($50 worth)
03/02/98: Rec'd 0.0024 INTC Dividend Reinvestment at $89.853
02/09/98: Bought 0.71940 JNJ at $69.502 ($50 worth)
02/02/98: Bought 0.5995 INTC at $83.3975 ($50 worth)
01/07/98: Bought 0.779 JNJ at $64.217 ($50 worth)
01/02/98: Bought 1.3849 INTC at $72.2097 ($100 worth)
12/01/97: Rec'd 0.0004 INTC Dividend Reinvestment at $80.2697
12/01/97: Bought 1.2458 INTC at $80.2697 ($100 worth)
11/14/97: Bought 1.0 JNJ at $62.125 (plus $15 fee)
11/03/97: Bought 3.835 INTC at $78.226 ($300 worth)
09/08/97: Bought 1.0 INTC at $94.69 (plus $15 fee)