Boring Portfolio Kulicke and Soffa Industries

Nasdaq: KLIC
2101 Blair Mill Rd.
Willow Grove, PA 19090
Ph: 215-784-6000
Fx: 215-659-7588
http://www.kns.com

Sell Report

Boring made the eighth and ninth trades in the Boring Portfolio on Friday, March 15, 1996 when Boring sold Potash Corp. and Kulicke & Soffa. KLIC was one of the first two Boring positions, and POT was purchased about two weeks later. The sell orders were promptly filled at K. Aufhauser & Co. for $15 1/8 (KLIC) and $66 3/8 (POT).

ACTION #  STOCK PRICE   COMS'N PROCEEDS GAIN/(LOSS)
Sold  200 KLIC  $15 1/8 $27.49 $2997.51 ($1777.48)
Sold  100 POT   $66 3/8 $27.49 $6610.01 ($1017.48)

Total loss on investments: KLIC (-37.22%), POT (-13.34%)

Buy Report

On Monday, January 29, 1996, the Boring Portfolio made its first two purchases: Kulicke and Soffa (NASDAQ: KLIC) and Texas Industries (NYSE: TXI). KLIC makes equipment used in the fabrication of semiconductors, and TXI is in the Boring businesses of concrete and steel. Both orders were executed in the morning by K. Aufhauser & Co. KLIC was bought for $23 3/4, and TXI cost $54 1/4 per share.

ACTION #  STOCK   PRICE    COMS'N  COST BASIS
Buy   200   KLIC  $23 3/4  $27.49  $4774.99
Buy   100   TXI   $54 1/4  $27.49  $5449.99