UpDate - Vol. 12, No. 27, Page U.S. SAVINGS BONDS - 3
April 15, 1993
U.S. Savings Bonds
Benefits of saving bonds

     There are many reasons for choosing the U.S. Savings Bonds Payroll
Savings Plan:

       * The plan makes it easier for individuals to save or invest each
         pay period.
       * Lost or stolen savings bonds are backed by the full faith of the 
         United States and can be replaced free if lost, stolen or
         destroyed.
       * Bonds can be purchased in denominations to fit every budget.
       * There are no fees when you buy or redeem a savings bond.
       * The interest on savings bonds is exempt from state and local
         incomes taxes, and federal income tax reporting may be deferred
         until a bond reaches final maturity after 30 years.