UpDate - Vol. 15, No. 28, Page SB-3
April 18, 1996
U.S. Savings Bond insert
Benefits of U.S. Savings Bonds

There are many reasons for choosing the U.S. Savings Bonds payroll
savings plan.

   * Bonds can be purchased in denominations to fit every budget.

   * There are never any fees when you buy or redeem a savings bond.

   * The interest on savings bonds is exempt from state and local
     incomes taxes.

   * Federal income tax reporting may be deferred until a U.S. Savings
     Bond reaches final maturity after 30 years.

   * The payroll savings plan makes it easier for individuals to save
     or invest each pay period by purchasing savings bonds.

   * Lost or stolen bonds are backed by the full faith of the United
     States and can be replaced free if lost, stolen or destroyed.