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, 1993 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 AFFILIATED EMPLOYERS (Full title of the plan) EXXON CORPORATION (Name of issuer of the securities) 225 E. John W. Carpenter Freeway Irving, Texas 75062-2298 (Address of principal executive office) THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATED EMPLOYERS THRIFT FUND INDEX Page ---- Financial Statements Statement of Net Assets at November 30, 1993 and 1992 2-3 Statement of Changes in Net Assets for the Year ended November 30, 1993 4 Notes to Financial Statements 5-8 Item 27a-Schedule of Assets Held for Investment Purposes at November 30, 1993 (Exhibit 1) 9-16 Item 27d-Schedule of Reportable Transactions (Exhibit 2) 17 Report of Independent Accountants 18 Consent of Independent Accountants 18 Signatures 19 -1- THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATED THRIFT FUND STATEMENT OF NET ASSETS NOVEMBER 30, 1993 (thousands of dollars) Exxon Exxon Corporation Corporation Common Common Equity Preferred Asset Stock Portfolio Stock Fund Fund Fund Fund Total -------- --------- -------- -------- ------- Assets Investments, at current value: Fixed income securities 2,696,421 - - 9,928 2,706,349 Short-term investment fund 36,949 - - 6,750 43,699 Loans to participants 173,905 - - - 173,905 Exxon Corporation common stock - 2,706,776 - - 2,706,776 Wells Fargo index fund - - 273,205 - 273,205 Exxon Corporation Class A preferred stock - - - 693,413 693,413 --------- --------- ------- ------- --------- Total investments 2,907,275 2,706,776 273,205 710,091 6,597,347 Cash 47 - - - 47 Amounts due from employers - - - 36,152 36,152 Dividends receivable 30,090 - - - 30,090 Accrued interest 44,376 - - 72 44,448 Other receivables 17,065 - - - 17,065 Interfund transfers receivable (payable) (23,264) 23,264 - - - --------- --------- ------- ------- --------- Total assets 2,975,589 2,730,040 273,205 746,315 6,725,149 --------- --------- ------- ------- --------- Liabilities Payables and accrued liabilities 45,419 - - 18,758 64,177 Notes payable - - - 675,000 675,000 Subrogation rights obligation - - - 41,061 41,061 ------ -------- ------- ------- ------- Total liabilities 45,419 - - 734,819 780,238 ------ -------- ------- ------- ------- Net assets available for benefits 2,930,170 2,730,040 273,205 11,496 5,944,911 ========== ========= ======= ====== ========= The accompanying notes are an integral part of these financial statements. -2- THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATED THRIFT FUND STATEMENT OF NET ASSETS NOVEMBER 30, 1992 (thousands of dollars) Exxon Exxon Corporation Corporation Common Common Equity Preferred Asset Stock Portfolio Stock Fund Fund Fund Fund Total -------- --------- -------- ------- ------- Assets Investments, at current value: Fixed income securities 2,651,958 - - - 2,651,958 Short-term investment fund 32,028 - - 18,464 50,492 Loans to participants 198,445 - - - 198,445 Exxon Corporation common stock - 2,523,267 - - 2,523,267 Wells Fargo index fund - - 219,030 - 219,030 Exxon Corporation Class A preferred stock - - - 780,385 780,385 --------- --------- ------- ------- --------- Total investments 2,882,431 2,523,267 219,030 798,849 6,423,577 Cash 37 - - - 37 Amounts due from employers 671 - - 35,650 36,321 Dividends receivable 29,996 - - - 29,996 Accrued interest 31,660 - - 50 31,710 Interfund transfers receivable (payable) (18,527) 13,278 5,249 - - --------- --------- ------- ------- --------- Total assets 2,926,268 2,536,545 224,279 834,549 6,521,641 --------- --------- ------- ------- --------- Liabilities Payables and accrued liabilities 14,454 295 - 19,501 34,250 Notes payable - - - 765,000 765,000 Subrogation rights obligation - - - 53,061 53,061 ------ --------- ------- ------- ------- Total liabilities 14,454 295 - 837,562 852,311 ------ --------- ------- ------- ------- Net assets available for benefits 2,911,814 2,536,250 224,279 (3,013)5,669,330 ========== ========= ======= ======= ========= The accompanying notes are an integral part of these financial statements. -3- THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATED THRIFT FUND STATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED NOVEMBER 30, 1993 (thousands of dollars) Exxon Exxon Corporation Corporation Common Common Equity Preferred Asset Stock Portfolio Stock Fund Fund Fund Fund Total -------- --------- -------- -------- ------- Contributions: Employer 38,771 - - 73,760 112,531 Employee 179,815 - - - 179,815 -------- --------- ------- ------- ------- Total contributions 218,586 - - 73,760 292,346 -------- --------- ------- ------- ------- Investment income: Interest 175,517 - - 594 176,111 Dividends - 120,004 - 55,586 175,590 Net appreciation in current value of investments 252 142,903 24,468 13,813 181,436 ------- -------- ------ ------ ------- Total investment income 175,769 262,907 24,468 69,993 533,137 ------- -------- ------ ------ ------- Interest and miscellaneous expense - - - (42,085) (42,085) LESOP conversions - 100,785 - (100,785) - Benefit payments at current value (274,436) (124,479) - - (398,915) Participant withdrawals at current value (103,694) (5,208) - - (108,902) Interfund transfers 2,131 (40,215) 24,458 13,626 - -------- ------- ------ ------ ------- Net increase 18,356 193,790 48,926 14,509 275,581 Net assets available for benefits: At the beginning of year 2,911,814 2,536,250 224,279 (3,013)5,669,330 --------- --------- ------- ------ --------- At the end of the year 2,930,170 2,730,040 273,205 11,496 5,944,911 ========= ========= ======= ====== ========= The accompanying notes are an integral part of these financial statements. -4- THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATED EMPLOYERS THRIFT FUND NOTES TO FINANCIAL STATEMENTS Note 1: Plan Description The Thrift Fund is the Trust arrangement of the Thrift Plan of Exxon Corporation and Participating Affiliated Employers. The participants in the Thrift Fund, commonly called the Thrift Plan or the Savings and Investment Program, are eligible employees and former employees of Exxon Corporation and certain affiliated employers. The Thrift Plan is explained in detail in the Exxon Thrift Plan and Trust Summary Plan Description (Summary Plan Description) 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 Summary Plan Description. Also set forth in the Summary Plan Description 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 (first available December 1, 1993), and other transactions. Note 2: Accounting Policies The accounting records of the Thrift Fund are maintained on the accrual basis. Common Asset securities, Exxon Corporation common stock, and Equity Portfolio investments are stated at market value. Market 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 is stated at current value. Such value was determined by the Trustee of the Thrift Fund. 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 AFFILIATED EMPLOYERS THRIFT FUND 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, 1993 and 1992, these components of net appreciation (depreciation) were: Exxon Corporation Common Asset Fixed Exxon Corporation Common Stock Income Securities Preferred Stock ------------ ----------------- ----------------- 1993 1992 1993 1992 1993 1992 ---- ---- ---- ---- ---- ---- (thousands of dollars) Realized Gain (Loss)$ 50,579 $26,364 ($12,827) ($15,837) $ - $ - Unrealized Gain 92,324 29,392 13,079 4,862 13,813 - ------ ------ ------- ------ ------ - Net Appreciation $142,903 $55,756 $ 252 ($10,975) $13,813 $ - (Depreciation) Note 4: Tax Status In 1993, the Internal Revenue Service issued a favorable determination letter with respect to the qualification of the Thrift Plans 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 on pages 37 through 43 of the Summary Plan Description. -6- THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATED EMPLOYERS THRIFT FUND 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, which are paid by Thrift participants in the Equity Portfolio Fund. 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 Summary Plan Description. 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 $105.0 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, 1993, there were 16,344,440 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. During 1993, 1,638,776 shares, or approximately $101 million, of preferred stock were converted to common stock and allocated. During 1992, 1,539,994 shares, or approximately $95 million, of preferred stock were converted to common stock and allocated. Net dividends on the preferred stock of $56 million and $64 million were paid during 1993 and 1992, respectively, and covered certain principal and interest payments on the notes and interest payments on the subrogation rights referred to below. The 1993 $90 million principal payment on the notes and $12 million retirement of subrogation rights (referred to below) were -7- THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATED EMPLOYERS THRIFT FUND NOTES TO FINANCIAL STATEMENTS funded with approximately $69 million of employer contributions to the DDA, $17 million of common dividends reinvested within the DDA and $16 million of preferred stock dividends and interest income in excess of interest expense. The 1992 $85 million principal payment on the notes and $11 million retirement of subrogation rights (referred to below) were funded with approximately $73 million of employer contributions to the DDA, $12 million of common dividends reinvested within the DDA and $11 million of preferred stock dividends and interest income in excess of interest expense. Upon its payment in 1991 and 1990 respectively of $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 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 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. -8- THRIFT PLAN OF EXXON CORPORATION EXHIBIT 1 AND PARTICIPATING AFFILIATED EMPLOYERS THRIFT FUND ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/93 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE ----------- ------ ---- --------- ----- ----- COMMON ASSET FUND - ----------------- CORPORATE BONDS AT&T CAPITAL CORP M/T/N 9.000% 06/15/94 $ 1,500 $ 1,529 $ 1,542 AT&T CAPITAL CORP M/T/N 5.640% 04/29/94 10,000 10,000 10,084 AT&T CAPITAL CORP M/T/N 5.470% 06/08/94 10,000 10,000 10,098 AT&T CAPITAL CORP M/T/N 5.390% 06/10/94 5,000 5,000 5,047 AT&T CAPITAL CORP M/T/N 5.380% 06/03/94 5,000 5,000 5,045 AT&T CAPITAL CORP M/T/N 5.300% 05/24/94 5,000 5,000 5,042 AT&T CAPITAL CORP M/T/N 5.280% 06/23/94 2,640 2,640 2,665 AT&T CAPITAL CORP M/T/N 5.180% 06/24/94 8,000 8,000 8,072 AT&T CAPITAL CORP M/T/N 4.650% 08/05/94 2,000 2,000 2,014 AT&T CAPITAL CORP M/T/N 4.860% 05/18/95 4,000 4,000 4,034 AM EXPRESS CREDIT CORP 7.375% 02/01/94 470 470 473 AMERICAN HSG TR XI MTG C 6.450% 02/25/07 12,807 12,805 12,911 BCI HOME EQUITY LOAN ABS 7.100% 09/15/06 6,360 6,340 6,423 BNY MASTER CREDIT CARD T 7.950% 04/15/96 22,917 23,163 23,312 BNY MASTER CREDIT CARD T 7.100% 12/15/96 37,060 37,296 38,067 BANCO INTL TRADE, SER A- 6.760% 10/15/96 3,000 3,048 3,185 BANCO INTL TRADE, SER A- 6.760% 10/15/96 3,972 4,036 4,217 BANCO INTL TRADE 6.380% 04/15/94 1,471 1,483 1,488 BANCO INTL TRADE 6.260% 10/15/94 1,471 1,492 1,508 BANCO INTL TRADE 6.160% 04/15/95 1,471 1,495 1,527 BANCO INTL TRADE, SER A- 6.760% 10/15/96 3,000 3,048 3,185 BANCO INTL TRADE 7.440% 04/15/97 3,497 3,573 3,822 BANKERS TRUST NY CORP 9.375% 05/15/94 5,000 5,048 5,116 BARCLAYS BANK M/T/N SER 8.600% 09/15/94 13,400 13,677 13,907 BAYERISCHE LANDESBANK US 6.100% 02/01/95 2,000 2,029 2,048 BAYERISCHE LANDESBANK US 5.750% 02/14/95 14,500 14,446 14,827 BAYERISCHE LANDESBANK US 5.750% 01/31/95 4,000 4,033 4,089 BAYERISCHE LANDESBANK US 4.500% 01/20/95 5,750 5,769 5,798 BAYERISCHE LANDESBANK US 4.625% 04/02/96 14,000 13,992 14,089 BELLSOUTH CAPITAL FUNDIN 5.300% 05/01/95 4,000 4,053 4,057 CFAC GRANTOR TRUST 6.450% 12/15/97 6,976 6,995 7,116 CFC-12 GRANTOR TR CLASS 9.100% 10/16/95 2,541 2,522 2,548 CFC-14 GRANTOR TRUST 7.150% 11/15/06 14,128 14,228 14,189 CTS HOME EQUITY LOAN TRU 7.700% 09/15/06 10,049 10,222 10,473 CAPITAL AUTO RECEIVABLES 5.750% 12/15/97 4,882 4,933 4,963 CAPITAL AUTO RECEIVABLES 4.900% 02/15/98 25,500 25,542 25,631 CAPITAL AUTO RECEIVABLES 5.350% 02/17/98 2,000 2,037 2,020 CAPITAL AUTO RECEIVABLES 4.700% 05/15/97 9,650 9,645 9,644 CAPSTEAD SECURITIES VIII 7.400% 09/25/22 8,000 8,041 8,730 CHASE LINCOLN TRUST 91-A 7.750% 06/15/97 1,842 1,839 1,882 CHEMICAL BANK GRANTOR TR 9.000% 02/15/95 1,915 1,917 1,931 CHEMICAL BANK GRANTOR TR 8.900% 12/15/96 6,088 6,074 6,261 CHEVRON CORP PROFIT SHARE 6.920% 01/01/96 5,000 5,214 5,215 CHEVY CHASE CRED CARD 92 7.550% 10/31/97 5,000 5,015 5,003 -9- THRIFT PLAN OF EXXON CORPORATION EXHIBIT 1 AND PARTICIPATING AFFILIATED EMPLOYERS THRIFT FUND ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/93 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE ----------- ------ ---- --------- ----- ----- CHEVY CHASE CRED CARD 92 7.550% 10/31/97 $15,000 $14,974 $14,934 CHEVY CHASE CRED CARD 92 7.550% 10/31/97 20,000 19,965 20,010 COMDISCO RECEIVABLES TRU 7.700% 05/15/96 571 570 579 COMDISCO RECEIVABLES TRU 6.100% 05/15/97 5,106 5,173 5,162 CONCORD LEASING TRUST 91 6.700% 11/15/97 7,655 7,648 7,685 CONCORD LEASING TRUST 5.310% 05/01/00 8,626 8,586 8,588 CORESTATES HOME EQUITY 5.100% 03/15/09 9,786 9,780 9,533 DELTA FUNDING MTG PASS-T 9.000% 02/25/06 4,203 4,197 4,372 DIAMOND FUNDING CORP 6.350% 11/20/97 31,390 31,377 31,743 DISCOVER CARD TRUST 5.500% 05/16/98 40,000 39,950 40,583 DISNEY WALT MED TERM NOT 7.750% 03/06/95 3,700 3,863 3,872 DUKE PWR CO M/T/N 6.470% 12/15/95 5,000 5,221 5,179 EXPORT FINANCE CORP M/T/ 9.070% 01/15/95 1,725 1,800 1,818 FCC GRANTOR TRUST 8.750% 02/15/06 8,113 8,440 8,473 FICAL HOME EQUITY LOAN T 8.900% 11/15/97 4,211 4,282 4,406 FIRST DEP SER 93-1 CL1 4.900% 06/15/00 40,000 39,989 40,200 FIRST INTERSTATE AUTO TR 9.000% 10/15/96 4,588 4,626 4,649 FIRST JERSEY NATL NOTE F 12.875% 12/15/93 4,000 4,005 4,006 FIRST UNION NATL DEP NT 9.000% 06/22/94 8,500 8,658 8,744 FIRST USA CR CARD MASTER 5.200% 06/15/98 39,725 40,042 40,029 FLEET FIN INC 5.450% 03/20/23 9,194 9,188 9,244 FLEET FIN HOME EQUITY 91 6.700% 10/16/06 10,982 10,962 11,288 FLEETWOOD CR 93-B GRANT 4.950% 08/15/08 5,744 5,729 5,689 FORD CR 90-A GRANTOR TR 8.750% 10/15/95 1,711 1,731 1,744 FORD CR 91-A GRANTOR TR 7.800% 02/15/96 3,326 3,332 3,370 FORD CR AUTO LOAN MASTER 5.625% 10/15/95 40,000 40,030 40,632 FORRESTAL CENTER CORP M/ 5.670% 05/16/94 10,000 10,000 10,091 GE CAPITAL MTG SERVICES 7.200% 09/15/11 9,104 9,096 9,430 GE CAPITAL MTG SERVICES 5.900% 01/25/01 9,591 9,660 9,649 GMAC 1992-C GRANTOR TR 5.950% 02/15/97 9,241 9,239 9,407 GMAC 1992-D GRANTOR TR 5.550% 05/15/97 9,009 9,003 9,121 GMAC 1992-F GRANTOR TR 4.500% 09/15/97 3,657 3,616 3,663 GENERAL DEVELOPMENT MTG 9.050% 02/25/99 5,450 5,393 5,650 GENERAL ELEC CO 5.875% 12/01/94 28,000 28,000 28,500 GENERAL ELEC CAPITAL COR 8.250% 01/14/95 4,550 4,699 4,747 GENERAL ELEC CAP CORP MT 9.500% 05/23/94 10,000 10,193 10,273 GOVERNMENT EXP TR CL A 6.250% 03/01/97 5,530 5,515 5,509 GREEN TREE FINL CORP 4.750% 10/15/17 7,058 6,934 7,044 GREEN TREE FINL CORP 5.850% 01/15/18 11,536 11,586 11,640 GUARANTEED MTG CORP III 8.500% 06/01/14 231 234 230 HIBERNIA NATL BK GRANTOR 8.300% 12/15/95 3,190 3,181 3,260 HITACHI CREDIT AMER MTN 6.850% 09/11/95 10,000 10,000 9,994 HITACHI CREDIT AMER MTN 7.600% 03/29/95 10,000 10,000 10,001 HITACHI CREDIT AMER MTN 8.540% 12/15/94 5,000 5,110 5,232 -10- THRIFT PLAN OF EXXON CORPORATION EXHIBIT 1 AND PARTICIPATING AFFILIATED EMPLOYERS THRIFT FUND ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/93 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE ----------- ------ ---- --------- ----- ----- HOUSEHOLD CR CARD TR 6.000% 07/15/97 $45,000 $44,912 $45,914 HOUSEHOLD FIN CORP V/R 8.150% 03/19/96 8,864 8,955 9,271 HOUSEHOLD FIN HOME EQU L 4.750% 05/20/08 12,849 12,821 12,813 HYUNDAI AUTO RECEIVABLES 4.300% 05/15/98 11,619 11,608 11,597 IBM CR CORP 7.200% 02/19/94 15,000 15,065 15,099 IBM CR CORP MEDIUM TERM 7.370% 05/02/94 6,500 6,551 6,594 IBM CR CORP M/T/N 5.580% 05/12/94 10,000 10,000 10,078 JOHNSON & JOHNSON NT 8.500% 08/15/95 4,500 4,804 4,801 JOHNSON & JOHNSON M/T/N 8.000% 03/20/96 20,000 21,604 21,453 KIDDER PEABODY MTG ASSET 8.650% 03/20/18 519 515 527 KIDDER PEABODY MTG ASSET 8.750% 05/01/17 370 367 377 LOMAS MTG FDG CORP II 9.000% 09/20/15 1,302 1,299 1,348 MCA FUNDING CORP M/T/N 4.880% 05/20/96 8,000 8,004 8,516 MCA FDG CORP M/T/N RESTR 4.880% 05/20/96 9,000 8,999 8,997 MCA FDG CORP M/T/N RESTR 4.480% 08/13/96 5,000 4,996 4,938 MERCK & CO INC 7.750% 05/01/96 7,000 7,497 7,473 MERDIAN GRANTOR TR 7.950% 02/15/96 1,463 1,448 1,478 MIDLANTIC AUTO GRANTOR T 4.300% 09/15/97 15,051 14,963 15,043 MIDLANTIC 1990-A AUTOMOB 9.200% 05/15/95 748 753 747 MOBIL CORP M/T/N 4.878% 09/18/95 5,000 5,002 5,033 MORGAN J P & CO INC SUB 8.875% 08/01/94 8,000 8,171 8,268 MORGAN J P & CO INC 5.375% 01/21/95 2,650 2,683 2,687 MORGAN GTY TR CO NEW YORK 8.125% 03/15/96 2,000 2,160 2,136 MORGAN STANLEY MTG TR 6.500% 04/20/08 14,602 14,649 14,703 NBD BK N A M/T/N 6.000% 05/30/95 10,000 10,107 10,253 NATIONAL BK DETROIT M/T/ 8.000% 02/14/95 3,350 3,476 3,504 NAVISTAR FINL 1991-1 RST 6.400% 12/15/96 7,453 7,453 7,391 NAVISTAR FINL 1993-A OWN 4.475% 10/15/98 3,000 2,999 2,999 NISSAN AUTO RECEIVABLES 4.300% 09/15/97 5,231 5,182 5,233 NORDIC INVT BK 5.250% 11/30/95 24,500 24,719 24,838 NORDISKA INVESTERINGSBAN 9.500% 12/15/94 7,250 7,508 7,612 NORINCHUKIN BK CTF DEP N 7.875% 04/11/94 1,000 1,007 1,015 NORINCHUKIN BK CTF DEP N 7.625% 05/02/94 6,000 6,006 6,097 NORTHERN ILL GAS CO 1ST 4.500% 03/15/96 10,000 9,969 9,966 NORWEST FINL INC 7.250% 11/01/95 5,000 5,243 5,243 NORWEST FINL INC NT 7.100% 11/15/96 1,300 1,382 1,373 PAINEWEBBER CMO TR SER G 8.000% 04/01/17 1,656 1,626 1,682 PEOPLES BK CR CARD TR 4.800% 12/15/99 24,300 24,276 24,559 PFIZER INC 7.125% 10/01/96 23,750 25,399 25,117 PITNEY BOWES CR CORP MED 6.640% 04/03/95 5,000 5,116 5,157 PITNEY BOWES CR CORP MED 6.650% 04/03/95 5,000 5,109 5,156 PREMIER AUTO TR 1992-1 A 5.750% 07/15/97 9,159 9,131 9,294 PREMIER AUTO TR ABS 4.900% 10/15/98 25,000 24,940 25,008 PREMIER AUTO TR 4.900% 12/15/98 7,000 7,018 6,971 -11- THRIFT PLAN OF EXXON CORPORATION EXHIBIT 1 AND PARTICIPATING AFFILIATED EMPLOYERS THRIFT FUND ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/93 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE ----------- ------ ---- --------- ----- ----- PREMIER AUTO TR 1993-5 A 4.220% 03/02/99 $10,000 $ 9,988 $ 9,888 PRIVATE EXPORT FDG CORP 6.670% 03/01/94 18,000 18,056 18,080 PRIVATE LABEL CR CARD 5.900% 04/15/98 2,567 2,566 2,580 PROCTER & GAMBLE CO NT 7.100% 09/01/94 6,000 6,062 6,137 PROCTER & GAMBLE CO NT 6.250% 03/15/95 4,000 4,071 4,100 PRUDENTIAL HOME MTG SECS 5.500% 02/25/08 7,699 7,706 7,747 PRUDENTIAL HOME MTG SECS 6.150% 03/25/23 3,500 3,529 3,527 RCI VACATION OWNERSHIP 8.375% 07/25/01 9,528 9,529 9,528 RCSB 1990-B GRANTOR TR 8.900% 05/15/96 2,083 2,073 2,149 RCSB 1991-B GRANTOR TR 6.700% 04/15/97 5,840 5,834 6,005 RABOBANK NEDERLAND MTN 9.250% 09/18/95 3,000 3,203 3,250 RABOBANK NEDERLAND MTN 5.400% 04/25/94 5,000 5,000 5,038 RABOBANK NEDERLAND MTN 4.590% 09/18/95 5,000 4,972 5,023 RABOBANK NEDERLAND MTN 4.500% 01/25/96 3,000 2,985 2,998 RABOBANK NEDERLAND MTN 4.550% 03/01/96 5,000 4,998 4,999 REPUBLIC NATL BK NEW YOR 5.750% 02/01/95 13,000 13,158 13,241 REPUBLIC N Y CORP 6.400% 04/15/95 13,600 13,912 13,955 REPUBLIC NATL BK OF NY 4.750% 10/15/95 2,000 2,009 2,005 REPUBLIC N Y CORP 8.375% 05/01/96 3,720 4,008 3,996 RESIDENTIAL FDG MTG SECS 6.500% 02/25/23 3,278 3,298 3,297 RESIDENTIAL FDG MTG SECS 5.500% 02/25/08 3,150 3,147 3,136 SCFC RECREATIONAL VEH LN 7.250% 09/15/06 10,918 10,924 10,919 SPNB HOME EQUITY LN ABS 8.100% 06/15/20 6,809 6,961 7,209 SAAB 1992-A TRUST SR CTF 6.100% 06/15/98 8,618 8,607 8,712 SEARS CR ACCOUNT MASTER 5.900% 11/16/98 28,000 28,374 28,677 SECURITY PAC AUTO GRANTO 6.700% 01/15/97 2,432 2,428 2,469 SECURITY PAC HOME EQUITY 8.250% 05/10/03 5,967 6,024 6,116 SELECT AUTO RECEIVABLES 7.000% 09/16/96 4,488 4,482 4,601 SELECT AUTO RECEIVABLES 6.250% 11/15/96 4,254 4,238 4,335 SHELL OIL CO 7.700% 02/01/96 9,000 9,537 9,555 SHELL OIL CO 7.125% 08/15/94 32,500 32,982 33,223 SHELL OIL CO NT 7.000% 09/15/95 4,000 4,154 4,175 SHELL OIL CO 6.125% 11/15/94 1,700 1,722 1,734 SONY CAPITAL CORP M/T/N 8.300% 02/15/94 3,500 3,507 3,529 STANDARD CR CARD MASTER 7.875% 09/07/95 35,205 35,611 35,996 STANDARD CR CARD MSTR TR 5.875% 08/07/96 10,000 10,092 10,222 STATE ST BK & TR CO BOST 5.300% 06/17/94 15,000 14,998 15,132 STRUCTURED ASSET SECS CO 6.600% 10/25/24 14,011 14,072 13,942 STRUCTURED MTG ASSET 6.750% 05/25/05 1,872 1,903 1,884 SWISS BANK CORP MED TERM 9.400% 06/13/95 2,500 2,681 2,621 TMS HOME EQUITY LN TR 6.100% 05/15/22 9,553 9,561 9,697 TMS HOME EQUITY LN TR 5.175% 07/15/06 10,828 10,912 10,893 TOYOTA MTR CR CORP NT 7.100% 08/15/94 5,000 5,056 5,109 TOYOTA MTR CR CORP M/T/N 7.850% 02/08/94 15,000 15,040 15,108 -12- THRIFT PLAN OF EXXON CORPORATION EXHIBIT 1 AND PARTICIPATING AFFILIATED EMPLOYERS THRIFT FUND ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/93 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE ----------- ------ ---- --------- ----- ----- UFSB GRANTOR TR 8.400% 08/15/96 $ 2,902 $ 2,898 $ 2,958 USAA CAP CORP 144A M/T/N 4.490% 10/28/96 20,000 20,000 19,721 U S WEST COMMUNICATIONS 5.480% 04/22/94 8,000 7,992 8,059 WACHOVIA BK N C N A M/T/ 5.300% 04/29/94 28,900 28,880 29,104 WACHOVIA BK N C N A MEDI 5.000% 01/29/96 11,600 11,595 11,684 WAL MART STORES INC 8.000% 05/01/96 4,000 4,329 4,283 WARNER LAMBERT CO DEB 8.125% 04/24/96 3,035 3,242 3,259 WESTERN FINL AUTO LNS 2 8.350% 10/01/95 2,532 2,531 2,561 WISCONSIN ELEC PWR CO 1S 4.500% 03/15/96 6,000 6,000 5,952 WORLD OMNI LEASE ABS 5.800% 01/15/97 15,739 15,729 15,984 WORLD OMNI 1991-1 A GRAN 7.950% 07/15/96 1,521 1,508 1,550 EUROPEAN INVT BK 7.750% 07/09/96 8,000 8,647 8,565 SHIKOKU ELECTRIC POWER 10.250% 04/26/96 10,000 11,292 11,194 INTERNATIONAL FINANCE CO 5.125% 02/09/96 10,000 10,089 10,144 --------- --------- --------- TOTAL CORPORATE BONDS $1,703,195$1,718,460$1,733,185 GOVERNMENT BONDS FEDERAL HOME LOAN MORTGA 6.450% 08/15/11 $ 19,482 $ 19,493 $ 19,496 FEDERAL HOME LOAN MORTGA 5.750% 01/15/99 3,967 3,965 3,963 FEDERAL HOME LOAN MORTGA 6.000% 10/15/08 9,092 9,101 9,095 FEDERAL HOME LOAN MORTGA 5.700% 09/15/06 20,000 19,938 20,104 FEDERAL HOME LOAN MORTGA 5.150% 01/15/06 5,000 5,000 5,046 FANNIE MAE REMIC TRUST C 6.250% 12/25/09 20,000 19,994 20,118 FEDERAL NATL MTG ASSN GT 5.950% 09/25/06 18,455 18,434 18,585 U S TREASURY NOTES 5.000% 06/30/94 5,000 5,004 5,044 U S TREASURY NOTES 4.250% 05/15/96 10,000 9,954 9,967 U S TREAS SEC STRIPPED 0.000% 08/15/94 18,000 17,363 17,560 U S TREAS SEC STRIPPED 0.000% 11/15/94 8,000 7,604 7,727 U S SVGS SR EE 1/1/93 R/ 6.000% 02/01/05 139,896 69,948 69,948 U S SVGS SR EE 9/1/92 R/ 6.000% 10/01/04 144,588 72,294 72,294 ------- ------- ------- TOTAL GOVERNMENT BONDS $421,480 $278,092 $278,947 OTHER BONDS ALBERTA PROV CDA DEB 9.250% 11/23/94 $13,900 $14,326 $14,591 BANAMEX EXPORT FUNDING 7.580% 10/15/96 1,797 1,825 1,878 BANQUE FRANCAISE COMM EX 9.250% 11/22/95 5,000 5,454 5,459 BANQUE NATL DE PARIS NY 8.200% 04/11/94 2,100 2,122 2,134 BELGIUM KINGDOM 5.280% 01/12/96 10,000 10,116 10,051 BRITISH TELECOM 7.625% 09/30/96 18,235 19,693 19,557 CANADIAN GOVT SEDOL #416 9.000% 02/27/96 40,590 44,177 44,370 COMPAGNIE BANCAIRE 8.250% 05/31/94 9,000 9,097 9,231 CREDIT AGRICOLE 8.750% 11/21/94 3,400 3,489 3,561 DU PONT E I NEMOURS & CO 8.500% 04/17/96 10,000 10,890 10,819 -13- THRIFT PLAN OF EXXON CORPORATION EXHIBIT 1 AND PARTICIPATING AFFILIATED EMPLOYERS THRIFT FUND ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/93 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE ----------- ------ ---- --------- ----- ----- DU PONT E I DE NEMOURS & 9.000% 07/18/94 $22,980 $23,545 $23,667 ENERGIE BEHEER NEDERLAND 9.000% 10/17/95 7,730 8,353 8,363 GUINNESS FINANCE 9.000% 01/08/96 5,000 5,350 5,431 HALIFAX BUILDING SOCIETE 5.000% 06/21/96 10,000 10,138 10,180 INTER AMERN DEV BK 11.625% 12/01/94 2,000 2,109 2,145 INTER AMERICAN DEV BANK 8.375% 12/27/95 13,190 14,138 14,204 JAPAN FINL CORP 9.875% 02/23/96 5,000 5,520 5,553 KANSAI ELEC PWR EURO 10.000% 03/30/96 10,000 11,095 11,131 MCDONALDS CORP EURO 2.750% 05/06/94 2,750 2,719 2,740 MOUNTAIN STS TEL & TEL E 7.625% 05/15/96 11,000 11,704 11,674 NEW ZEALAND SEDOL 463344 9.000% 08/30/94 20,000 20,401 20,850 NIPPON TELE & TELE 9.375% 03/03/95 5,000 5,299 5,316 ONTARIO PROV CDA NT 12.500% 04/04/94 7,700 7,855 7,914 OSPREY MTG LTD NO.7 CL A 5.250% 07/10/97 6,500 6,621 6,435 PANASONIC FIN INC 8.470% 11/18/94 3,000 3,055 2,979 SAINSBURY J 8.500% 05/09/96 3,000 3,260 3,244 SAINSBURY J 9.125% 10/02/96 3,000 3,353 3,315 SPAIN KINGDOM M/T/N 9.380% 05/25/94 2,000 2,038 2,054 SPAIN KINGDOM M/T/N 8.430% 01/25/95 3,000 3,135 3,144 KINGDOM OF SPAIN M/T/N 9.130% 10/05/95 2,000 2,160 2,161 KINGDOM OF SPAIN M/T/N 8.650% 12/15/95 1,870 2,008 2,015 UNILEVER CAP CORP 8.000% 05/28/96 25,150 26,991 26,942 BELGIUM KINGDOM 5.220% 10/23/95 3,000 3,030 3,037 CHUBU ELECTRIC POWER 7.000% 03/26/96 10,100 10,668 10,586 DENMARK KINGDOM UNSUB 7.250% 09/25/96 5,175 5,533 5,492 DENMARK KINGDOM UNSUB 5.250% 11/03/95 10,000 10,125 10,175 ABB INTL FIN NV KEEPWELL 6.375% 02/20/96 19,000 19,658 19,641 GUINNESS FINANCE BV 6.500% 04/06/95 2,100 2,149 2,162 INTER AMERICAN DEV BK EU 10.500% 09/11/95 15,000 16,504 16,584 INTER AMERICAN DEV BK EU 7.625% 09/10/96 9,400 10,161 10,087 INTERNATIONAL BK FOR REC 9.750% 05/10/96 21,000 23,558 23,377 SWEDEN KINGDOM DEB 5.500% 12/01/95 20,400 20,713 20,821 ------- ------- ------- TOTAL OTHER BONDS $401,067 $424,135 $425,070 CERTIFICATES OF DEPOSIT AMERITRUST CLEV OH C/D A 9.020% 02/28/94 $ 5,000 $ 5,136 $ 5,223 BAYERISCHE LANDESBANK YC 4.800% 02/28/94 10,000 10,101 10,046 CENTRAL BK OF THE SOUTH 5.050% 12/15/93 5,000 5,000 5,005 CENTRAL BK OF THE SOUTH 5.000% 12/16/93 5,000 5,000 5,005 CENTRAL BANK SOUTH C/D A 5.650% 05/16/94 10,000 10,000 10,127 CENTRAL BK SOUTH C/D 5.125% 01/31/94 5,000 5,003 5,051 CENTRAL BK OF SOUTH C/D 5.570% 12/01/93 5,000 5,000 5,125 CENTRAL FIDELITY BK C/D 5.650% 05/18/94 20,000 20,002 20,257 -14- THRIFT PLAN OF EXXON CORPORATION EXHIBIT 1 AND PARTICIPATING AFFILIATED EMPLOYERS THRIFT FUND ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/93 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE ----------- ------ ---- --------- ----- ----- CENTRAL FIDELITY BK C/D 5.690% 05/10/94 $ 5,000 $ 5,000 $ 5,062 COMERICA BK DETROIT C/D 9.650% 01/27/94 3,000 3,242 3,235 DRESDNER BANK A G NY BRA 5.400% 12/21/93 2,000 2,029 2,029 FIFTH THIRD BK CIN OH C/ 8.880% 02/23/94 2,000 2,063 2,091 FIFTH THIRD BK CINCINNAT 9.450% 06/07/94 2,000 2,043 2,068 FIRST ALABAMA BK C/D 6.510% 03/12/94 10,000 10,000 10,230 FIRST HAWAIIAN BK C/D 5.900% 01/02/95 10,000 10,000 10,180 FIRST HAWAIIAN BK C/D 8.550% 07/01/94 1,000 1,017 1,032 FIRST UNION NATL BK N C 8.320% 08/08/94 5,000 5,127 5,183 HUNTINGTON NATL BK C/D 7.690% 12/22/93 7,000 7,000 7,021 LASALLE NATL BK CHICAGO 5.550% 02/13/95 5,000 4,978 5,077 LASALLE NATL BK CHICAGO 5.950% 03/06/95 5,000 4,975 5,099 MBNA AMER BK N A NEWARK 4.100% 10/15/96 5,000 4,956 4,883 MBNA AMER BK N A NEWARK 4.300% 09/03/96 10,000 9,914 9,844 MBNA AMER BK N A NEWARK 4.250% 09/09/96 5,000 4,950 4,915 MBNA AMER BK N A NEWARK 4.200% 09/30/96 10,000 9,908 9,819 MERCANTILE SAFE DEP & TR 6.480% 03/03/94 5,000 5,000 5,182 MERCANTILE SAFE DEP & TR 6.480% 03/03/94 5,000 5,000 5,124 MERCANTILE SAFE DEP & TR 4.770% 04/01/94 10,000 10,000 10,006 MERCANTILE-SAFE DEP & TR 4.850% 02/03/94 5,000 5,000 5,043 MERCANTILE SAFE DEP & TR 5.360% 01/07/94 5,000 5,000 5,074 OLD KENT BK & TR CO C/D 5.000% 02/28/94 5,000 5,001 5,040 OLD KENT BK & TR CO C/D 5.150% 01/20/94 5,000 5,001 5,012 OLD KENT BANK AND TRUST 4.620% 03/09/94 2,000 2,000 2,001 PITTSBURGH NATL BK C/D N 6.350% 12/15/94 21,500 21,659 21,659 PITTSBURGH NATIONAL BK C 8.900% 06/22/94 1,000 1,013 1,027 SECURITY PAC NATL BK C/D 9.050% 05/31/94 4,000 4,074 4,122 SOUTH CAROLINA NATL BK D 9.400% 09/20/95 5,000 5,396 5,446 UNION BK C/D 6.550% 04/29/94 20,000 20,000 20,637 UNION BK C/D 5.570% 01/17/94 10,000 10,000 10,239 ------- ------- ------- TOTAL CERTIFICATES OF DEPOSIT $255,500 $256,588 $259,219 ------- ------- ------- TOTAL FIXED INCOME SECURITIES $2,781,242$2,677,275$2,696,421 BANK OF NEW YORK N/A N/A 36,949 36,949 36,949 SHORT TERM INVST FUND PARTICIPANT LOANS (RATES N/A N/A N/A N/A 173,905 FROM 11.75 TO 6.5, --------- --------- --------- MAXIMUM PERIOD OF REPAYMENTS IS 60 MONTHS) TOTAL COMMON ASSET INVESTMENTS $2,818,191$2,714,224$2,907,275 ========= ========= ========= -15- THRIFT PLAN OF EXXON CORPORATION EXHIBIT 1 AND PARTICIPATING AFFILIATED EMPLOYERS THRIFT FUND ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/93 (thousands of dollars) SHARES/ CURRENT FUND/ISSUE UNITS COST VALUE ---------- ------ ---- ----- EXXON CORPORATION PREFERRED STOCK FUND - -------------------------------------- *EXXON CORPORATION CLASS A PREFERRED STOCK 11,050 $679,600 $693,413 (thousands of shares) GE CAPITAL COMMERCIAL PAPER N/A 9,928 9,928 *BANK OF NEW YORK SHORT TERM INVESTMENT FUND N/A 6,750 6,750 EXXON CORPORATION COMMON STOCK FUND - ----------------------------------- *EXXON CORPORATION COMMON STOCK 43,136$1,833,815$2,706,776 (thousands of shares) EQUITY PORTFOLIO FUND - --------------------- WELLS FARGO EQUITY INDEX FUND 2,788 $166,938 $273,205 (thousands of shares) -16- EXHIBIT 2 THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATED EMPLOYERS ITEM 27d-SCHEDULE OF REPORTABLE TRANSACTIONS TRUSTEE--THRIFT FUND (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 - --------- ----- --------- -------- ---- 10,841,201 8,087,031 $699,743 $522,427 $177,316 Schedule prepared following 29CFR 2520.103-6(d)(2). -17- 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 Fund of the Thrift Plan of Exxon Corporation and Participating Affiliated Employers (the Thrift Fund) at November 30, 1993 and 1992, and the changes in its net assets available for benefits for the year ended November 30, 1993, in conformity with generally accepted accounting principles. These financial statements are the responsibility of the Trustee of the Thrift Fund; 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 Fund, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for the opinion expressed above. Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The additional information included in Exhibits 1 and 2 is presented for purposes of additional analysis and is not a required part of the basic financial statements but is additional information required by ERISA. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole. PRICE WATERHOUSE Houston, Texas March 10, 1994 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 Affiliated Employers of our report dated March 10, 1994 appearing on page 18 of this Annual Report on Form 11-K. PRICE WATERHOUSE Houston, Texas March 10, 1994 -18- 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 AFFILIATED EMPLOYERS (Name of Plan) EDGAR A. ROBINSION By ___________________________________ Edgar A. Robinson Chairman, Thrift Trustee Dated: March 10, 1994 -19-