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, 1995 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 AFFILIATES (Full title of the plan) EXXON CORPORATION (Name of issuer of the securities) 5959 Las Colinas Boulevard Irving, Texas 75039-2298 (Address of principal executive office) THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES INDEX Page ---- Financial Statements Statement of Net Assets Available for Benefits, with Fund Information at November 30, 1995 and 1994 2-3 Statement of Changes in Net Assets Available for Benefits, with Fund Information for the Year ended November 30, 1995 4 Notes to Financial Statements 5-8 Item 27a-Schedule of Assets Held for Investment Purposes at November 30, 1995 (Exhibit 1) 9-25 Item 27d-Schedule of Reportable Transactions (Exhibit 2) 26 Report of Independent Accountants 27 Consent of Independent Accountants 28 Signatures 29 THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION NOVEMBER 30, 1995 (millions of dollars) Non- Participant Participant Directed Directed ---------------------------------------- ----------- Exxon Exxon Corporation Extended Corp. Common Common Equity Market Preferred Asset Stock Portfolio Portfolio Stock Fund Fund* Fund* Fund Fund* Total ---------------------------------------- --------- ----- Assets Investments,at fair value: Fixed income securities $2,669 - - - $2,669 Short-term investments 64 - - - $13 77 Loans to parti- cipants 159 - - - - 159 Exxon Corp common stock - $3,279 - - - 3,279 Index funds - - $429 $136 - 565 Exxon Corp Class A preferred stock - - - - 584 584 ------------------------------------------------------- Total investments 2,892 3,279 429 136 597 7,333 Cash 5 - - - - 5 Amounts due from employers - - - - 34 34 Dividends receivable - 32 - - - 32 Accrued interest 45 - - - - 45 Other receivables 2 - - - - 2 ------------------------------------------------------- Total assets 2,944 3,311 429 136 631 7,451 ------------------------------------------------------- Liabilities Payables and accrued liabilities 49 7 - - 10 66 Notes payable - - - - 460 460 Subrogation rights obligation - - - - 41 41 ------------------------------------------------------- Total liabilities 49 7 - - 511 567 ------------------------------------------------------- Net assets available for benefits $2,895 $3,304 $429 $136 $120 $6,884 ======================================================= *Investment Funds representing 5% or more of net assets available for benefits. The accompanying notes are an integral part of these financial statements. -2- THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION NOVEMBER 30, 1994 (millions of dollars) Non- Participant Participant Directed Directed --------------------------------------- ----------- Exxon Exxon Corporation Extended Corp. Common Common Equity Market Preferred Asset Stock Portfolio Portfolio Stock Fund Fund* Fund* Fund Fund* Total ---------------------------------------- --------- ----- Assets Investments, at fair value: Fixed income securities $2,359 - - - $16 $2,375 Short-term investments 105 - - - - 105 Loans to parti- cipants 170 - - - - 170 Exxon Corp common stock - $2,797 - - - 2,797 Index funds - - $298 $78 - 376 Exxon Corp Class A preferred stock - - - - 568 568 -------------------------------------------------------- Total investments 2,634 2,797 298 78 584 6,391 Amounts due from employers - - - - 45 45 Dividends receivable - 35 - - - 35 Accrued interest 52 - - - - 52 Other receivables 1 - - - - 1 -------------------------------------------------------- Total assets 2,687 2,832 298 78 629 6,524 -------------------------------------------------------- Liabilities Payables and accrued liabilities 14 8 - - 19 41 Notes payable - - - - 565 565 Subrogation rights obligation - - - - 48 48 -------------------------------------------------------- Total liabilities 14 8 - - 632 654 -------------------------------------------------------- Net assets available for benefits $2,673 $2,824 $298 $78 ($3) $5,870 ======================================================== *Investment Funds representing 5% or more of net assets available for benefits. The accompanying notes are an integral part of these financial statements. -3- THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION YEAR ENDED NOVEMBER 30, 1995 (millions of dollars) Non- Participant Participant Directed Directed ------------------------------------ ------------ Exxon Exxon Corp. Extended Corp. Common Common Equity Market Preferred Asset Stock Portfolio Portfolio Stock Fund Fund Fund Fund Fund Total ------------------------------------ --------- ----- Contributions: Employer $19 $5 $2 $2 $87 $115 Employee 93 34 23 19 - 169 ----------------------------------------------------- Total contributions 112 39 25 21 87 284 ----------------------------------------------------- Investment income: Interest 163 - - - 1 164 Dividends - 132 - - 40 172 Net appreciation (depreciation) in fair value of investments 60 753 111 28 120 1,072 ----------------------------------------------------- Total investment income 223 885 111 28 161 1,408 ----------------------------------------------------- Interest expense - - - - (36) (36) LESOP conversions - 103 - - (103) - Benefit payments at fair value (390) (155) - - - (545) Participant withdrawals at fair value (63) (34) - - - (97) Interfund transfers 340 (358) (5) 9 14 - ----------------------------------------------------- Net increase(decrease) 222 480 131 58 123 1,014 Net assets available for benefits: At the beginning of the year 2,673 2,824 298 78 (3) 5,870 ----------------------------------------------------- At the end of the year $2,895 $3,304 $429 $136 $120 $6,884 ===================================================== The accompanying notes are an integral part of these financial statements. -4- THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES NOTES TO FINANCIAL STATEMENTS Note 1: Plan Description The participants in the Thrift Plan of Exxon Corporation and Participating Affiliates (the "Thrift Plan", also called the "Thrift Fund" or the "Savings and Investment Program") are eligible employees and former employees of Exxon Corporation and certain affiliated employers. The terms and conditions of the Thrift Plan are fully contained in the Thrift Plan of Exxon Corporation and Participating Affiliates document (Plan Document) 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 Plan Document. Also set forth in the Plan Document 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, and other transactions. Note 2: Accounting Policies The accounting records of the Thrift Plan are maintained on the accrual basis. The Common Asset Fund, Exxon Corporation Common Stock Fund, Equity Portfolio Fund, and Extended Market Portfolio Fund investments are stated at current value. Current 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 held in the Exxon Corporation Preferred Stock Fund is stated at current value. Such value was determined by the Trustee of the Thrift Plan. 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 AFFILIATES 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, 1995 and 1994, these components of net appreciation (depreciation) were: Exxon Corporation Common Asset Fixed Exxon Corporation Common Stock Income Securities Preferred Stock ------------ ----------------- ----------------- 1995 1994 1995 1994 1995 1994 ---- ---- ---- ---- ---- ---- (millions of dollars) Realized G/(L) $ 94 ($ 1) $ 6 ($14) $ - $ - Unrealized G/(L) 659 (97) 54 ( 60) 120 (14) ----- ---- ----- ----- ----- ----- Net Appreciation $753 ($98) $60 ($74) $120 ($14) (Depreciation) Note 4: Tax Status In 1993, the Internal Revenue Service issued a favorable determination letter with respect to the qualification of the Thrift Plan 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 in the Plan Document. -6- THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES 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 Fund and the Extended Market Portfolio Fund, which are paid by Thrift participants in those respective Funds. 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 Plan Document. 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 $110.0 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, 1995, there were 19,135,188 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 in accordance with the applicable requirments of the IRC. During 1995, 1,678,567 shares, or approximately $103 million, of preferred stock were converted to common stock and allocated. During 1994, 1,819,364 shares, or approximately $112 million, of preferred stock were converted to common stock and allocated. Net dividends on the preferred stock of $40 million and $48 million were paid during 1995 and 1994, respectively, and covered certain principal and interest payments on the notes and interest payments on the subrogation rights referred to below. -7- THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES NOTES TO FINANCIAL STATEMENTS The June, 1995 $105 million principal payment on the notes and $7 million retirement of subrogation rights (referred to below) were funded with approximately $86 million of employer contributions to the DDA, $25 million of common dividends reinvested within the DDA and $1 million of preferred stock dividends and interest income in excess of interest expense. The June, 1994 $110 million principal payment on the notes was funded with approximately $71 million of employer contributions to the DDA, $21 million of common dividends reinvested within the DDA and $11 million of preferred stock dividends and interest income in excess of interest expense and a guarantor payment by Exxon Corporation of approximately $7 million. Upon its payment in 1994, 1991 and 1990 respectively of approximately $7 million, $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 1994 and 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 1995, $7 million of the subrogation rights obligation incurred in 1994 was retired. 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. Note 7: Claims Incurred But Not Paid The Plan reports benefits paid on a cash basis as required under generally accepted accounting principles. For Form 5500 reporting purposes, claims incurred but not paid of $4 million and $37 million for the years ended November 30, 1995 and 1994 respectively are reported on an accrual basis. As such, the net assets available for benefits reflected for Form 5500 purposes are $6,880 million and $5,833 million for the years ended November 30, 1995 and 1994, respectively. -8- EXHIBIT 1 THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/95 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE - ---------------------------------------------------------------------------- COMMON ASSET FUND - ------------------ CORPORATE BONDS AT&T CORP 4.500% 02/15/96 $11,800 $11,750 $11,766 A T & T CAP CORP M/T/N 7.080% 05/19/97 2,000 2,007 2,034 AMERICAN EXPRESS MASTER TR 6 050% 06/15/98 20,850 20,830 20,973 ASSOCIATES CORP NORTH AMER 8.375% 06/01/96 3,190 3,211 3,227 ASSOCIATES CORP NORTH AMER 8.800% 03/01/96 5,565 5,591 5,600 ASSOCIATES CORP NORTH AMER SR NT 7.500% 10/15/96 15,500 15,571 15,711 ASSOCIATES CORP NORTH AMER SR NT 8.125% 01/15/98 5,000 5,189 5,233 BANC ONE AUTO TR 6.363% 05/15/96 1,019 1,019 1,020 BANC ONE AUTO TR 6.650% 05/15/97 18,000 18,005 18,079 BANC ONE AUTO TR 6.850% 11/15/97 10,000 9,998 10,107 BANCO INTERNATL TRADE FIN SER A-3 RESTR 6.760% 10/15/96 1,000 1,005 1,011 BANCO INTERNATL TRADE FIN SER A-4 RESTR 6.760% 10/15/96 1,324 1,330 1,338 BANCO INTERNATL TRADE FIN SER A-2 RESTR 6.760% 10/15/96 1,000 1,005 1,011 BANCO INTL TRADE FIN CORP RESTR 7.440% 04/15/97 1,499 1,512 1,537 BANAMEX EXPORT FDG CORP RESTR *PP* 7.580% 10/15/96 599 602 601 BAYERISCHE LANDESBANK U S FIN M/T/N 4.625% 04/02/96 14,000 13,999 13,939 BELLSOUTH CAP FDG CORP 9.250% 01/15/98 1,900 2,014 2,029 BELLSOUTH CAP FDG CORP M/T/N 6.790% 03/03/97 7,000 7,000 7,076 BELLSOUTH CAP FDG CORP M/T/N 7.550% 11/29/96 3,000 3,043 3,054 -9- EXHIBIT 1 THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/95 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE - ---------------------------------------------------------------------------- BOATMENS AUTO TR 5.900% 06/15/98 $10,000 $9,995 $10,019 BOATMENS AUTO TR 6.100% 05/15/00 10,000 9,991 9,999 BRIDGESTONE/ FIRESTONE MASTER TR 6.250% 12/01/99 9,500 9,486 9,513 CFAC GRANTOR TR 6.450% 12/15/97 3,306 3,315 3,309 CFC-14 GRANTOR TRUST RESTR 7.150% 11/15/06 6,824 6,872 6,825 CTS HOME EQUITY LN TR 7.700% 09/15/06 5,406 5,499 5,568 CAPITAL AUTO RECEIVABLES ASSET 5.750% 12/15/97 1,279 1,288 1,279 CAPITAL AUTO RECEIVABLES ASSET 5.350% 02/15/98 2,846 2,852 2,844 CAPITAL AUTO RECEIVABLES ASSET TR 4.700% 05/15/97 3,473 3,473 3,466 CARCO AUTO LN MASTER TR 7.875% 03/15/98 2,000 2,018 2,024 CASE EQUIP LN TR 6.150% 10/25/26 10,000 9,997 10,105 CHASE MANHATTAN CR CARD MASTER 7.650% 11/15/98 11,567 11,587 11,572 CHASE MANHATTAN CR CARD MASTER 7.400% 05/15/00 16,000 16,119 16,321 CHASE MANHATTAN GRANTOR TR 6.000% 09/17/01 23,483 23,455 23,569 CHASE MANHATTAN GRANTOR TR 5.900% 11/15/01 20,000 19,986 20,049 CHEMICAL GRANTOR TR 8.900% 12/15/96 2,995 2,987 3,009 CHEVRON CORP PROFIT SHARING/ 6.920% 01/01/96 5,000 5,009 5,003 CHEVRON CORP PROFIT SHARING/ 7.280% 01/01/97 3,500 3,552 3,555 CITICORP MTG SECS INC REMIC PASS THRU 5.750% 03/25/09 3,929 3,925 3,896 COCA COLA CO NT 7.750% 02/15/96 2,000 2,004 2,007 COCA COLA CO 7.875% 09/15/98 8,000 8,393 8,432 -10- EXHIBIT 1 THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/95 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE - ---------------------------------------------------------------------------- COLONIAL CR CARD TR 7.450% 01/15/98 $2,996 $3,007 $3,022 COLONIAL CREDIT CARD TR 1992-A 6.800% 08/15/97 6,795 6,814 6,825 CONCORD LEASING GRANTOR RESTR 5.310% 05/01/00 1,591 1,583 1,591 CORESTATES HOME EQUITY TR 5.100% 03/15/09 6,238 6,235 6,119 DAIMLER-BENZ AUTO GRANTOR TR 5.850% 05/15/02 20,000 20,022 20,000 DAIMLER-BENZ VEH TR 1994-A ASSET BACK 5.950% 12/15/00 10,497 10,505 10,499 DAYTON HUDSON CR CARD MASTER 6.100% 02/25/02 9,590 9,593 9,694 DEUTSCHE BANK FIN INC M/T/N 8.800% 01/15/97 2,000 2,040 2,070 DEUTSCHE BK FINL INC M/T/N 8.800% 01/15/97 8,625 8,828 8,881 DISCOVER CARD MASTER TR I SER 94-1 CR 6.700% 02/16/00 23,000 22,991 23,378 DISCOVER CARD TR 7.200% 04/16/98 8,333 8,317 8,338 DISCOVER CARD TR 5.500% 05/16/98 20,000 19,990 19,954 DISCOVER CARD TR 6.250% 08/16/00 10,200 10,187 10,307 DU PONT E I DE NEMOURS & CO 8.450% 10/15/96 2,695 2,733 2,753 DU PONT E I DE NEMOURS & CO M/T/N 7.160% 03/03/97 10,000 10,022 10,178 DU PONT E I DE NEMOURS & CO M/T/N 6.090% 06/16/97 7,000 7,000 7,043 DUKE PWR CO 5.625% 08/12/97 2,900 2,882 2,895 DUKE PWR CO M/T/N 6.470% 12/15/95 5,000 5,004 5,001 EKSPORTFINANS A S M/T/N 5.500% 02/17/97 9,500 9,336 9,471 EMERSON ELEC CO EURO 7.875% 06/05/98 9,720 10,042 10,157 -11- EXHIBIT 1 THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/95 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE - ---------------------------------------------------------------------------- FCC GRANTOR TR 8.750% 02/15/06 $4,127 $4,293 $4,184 FICAL HOME EQUITY LN TR 8.900% 11/15/97 283 287 282 FIRST CHICAGO MASTER TR 8.400% 06/15/98 15,060 15,240 15,247 FIRST CHICAGO MASTER TR 6.250% 08/15/99 29,165 29,194 29,404 FIRST DEP MASTER TR ASSETS BACKED CTF 5.750% 06/15/01 8,000 7,888 8,018 FIRST DEP MASTER TR SER 1993-1 CL1 4.900% 06/15/00 23,333 23,330 23,289 FIRST DEP MASTER TR 6.900% 08/15/01 5,000 5,040 5,096 FIRST SEC AUTO GRANTOR TR 6.250% 01/15/01 8,213 8,209 8,264 FIRST USA CR CARD MASTER TR 5.200% 06/15/98 36,415 36,511 36,283 FLEET FIN INC 5.450% 03/20/23 3,611 3,609 3,590 FLEET FIN HOME EQUITY TR 1991-2 HOME EQ 6.700% 10/16/06 4,607 4,598 4,654 FLEETWOOD CR 1993-B GRANTOR TR 4.950% 08/15/08 3,749 3,739 3,683 FLEETWOOD CR 1994-B GRANTOR TR 6.750% 03/15/10 3,942 3,929 4,006 FORD CR AUTO LN MASTER TR SER 1992-1 6.875% 01/15/99 5,000 5,019 5,058 FORD CR 1994-A GRANTOR TR 6.350% 05/15/99 3,386 3,404 3,410 FORD CR GRANTOR TR 5.900% 05/15/00 34,581 34,553 34,657 GE CAP MTG SVCS INC 7.200% 09/15/11 4,088 4,084 4,151 GMAC 1992-D GRANTOR TR 5.550% 05/15/97 1,049 1,049 1,047 GMAC 1992-F GRANTOR TR 4.500% 09/15/97 643 635 639 -12- EXHIBIT 1 THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/95 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE - ---------------------------------------------------------------------------- GMAC 1994-A GRANTOR TR 6.300% 06/15/99 $23,073 $23,159 $23,223 GMAC 1995-A GRANTOR TR 7.150% 03/15/00 17,690 17,897 17,983 GENERAL DEVELOP MENT MTG TRUST 9.050% 02/25/99 450 445 456 GENERAL ELEC CAP CORP M/T/N 8.650% 06/24/97 5,000 5,206 5,212 GENERAL ELEC CAP CORP M/T/N 6.370% 09/01/98 7,500 7,544 7,647 GENERAL ELEC CAP CORP M/T/N 7.950% 02/02/98 2,400 2,484 2,517 GENERAL ELEC CAP CORP M/T/N 7.125% 04/06/98 2,350 2,408 2,430 GENERAL ELEC CAP CORP M/T/N 6.125% 04/15/97 2,500 2,507 2,520 GILLETTE CO NT 4.750% 08/15/96 7,000 6,934 6,946 GOVERNMENT EXP TR CL A RESTR 6.250% 03/01/97 2,370 2,367 2,370 GREEN TREE FINL CORP 4.750% 10/15/17 168 165 167 GREEN TREE FINL CORP 5.850% 01/15/18 1,598 1,605 1,595 HALIFAX BLDG SOC 4.750% 04/29/96 3,000 2,976 2,986 HONDA AUTO RECEIVABLES GRANTOR TR 6.200% 12/15/00 22,467 22,460 22,606 HOUSEHOLD CR CARD TR 7.375% 10/15/97 11,833 11,839 11,835 HOUSEHOLD FIN CORP V/R 8.150% 03/19/96 3,981 4,022 4,001 HOUSEHOLD FIN CORP HOME EQUITY LN 4.750% 05/20/08 5,697 5,685 5,612 HYUNDAI AUTO RECEIVABLES TR 4.300% 05/15/98 2,584 2,581 2,560 JOHNSON & JOHNSON M/T/N 8.000% 03/20/96 20,000 20,211 20,136 KFW INTL FIN INC 9.375% 07/15/98 5,000 5,399 5,429 KFW INTL FIN INC M/T/N 9.600% 05/31/96 2,000 2,031 2,036 -13- EXHIBIT 1 THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/95 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE - ---------------------------------------------------------------------------- KFW INTL FIN INC M/T/N 8.450% 11/03/97 $6,300 $6,555 $6,609 KFW INTL FIN INC M/T/N 9.050% 07/30/97 7,000 7,303 7,365 KEYCORP AUTO GRANTOR TR 5.800% 07/15/00 8,291 8,272 8,299 LOMAS MTG FDG CORP II 9.000% 09/20/15 342 341 345 MBNA CR CARD TR 8.250% 06/30/98 1,837 1,845 1,833 MBNA MASTER CR CARD TR 7.750% 10/15/98 5,000 5,052 5,080 MBNA MASTER CREDIT CARD TRUST 7.250% 06/15/99 20,000 20,200 20,438 MBNA MASTER CR CARD TR SER 1992-2 6.200% 08/15/99 16,700 16,654 16,823 MCDONALDS CORP SER B M/T/N 8.875% 02/18/97 1,000 1,032 1,032 MERCK & CO INC 7.750% 05/01/96 11,400 11,522 11,487 MERCK & CO INC M/T/N 6.000% 01/15/97 2,000 1,991 2,006 MIDLANTIC AUTO GRANTOR TR 4.300% 09/15/97 2,090 2,078 2,080 MOBIL CORP 6.500% 12/17/96 3,000 2,989 3,022 MOBIL CORP 6.500% 02/15/97 9,200 9,258 9,283 MORGAN GTY TR CO NEW YORK N Y 8.125% 03/15/96 2,000 2,020 2,012 NBD BK N A M/T/N 4.625% 12/02/96 10,000 9,996 9,913 NBD BK N A M/T/N 4.600% 02/03/97 5,000 4,947 4,947 NBD BK N A M/T/N 6.150% 06/03/96 5,000 4,986 5,011 NBD BK N A M/T/N 6.550% 06/02/97 2,000 2,000 2,028 NATIONSBANK CR CARD MASTER TR 4.750% 09/15/98 35,000 34,989 34,712 NAVISTAR FINL 1993-A OWNER TR 4.475% 10/15/98 1,016 1,015 1,011 NAVISTAR FINL 1995-A OWNER TR 6.550% 11/20/01 15,000 15,123 15,175 NAVISTAR FINL 1995-B OWNER TR 5.940% 10/15/98 9,000 9,000 9,020 NEW ENGLAND TEL & TELEG CO NT 6.250% 12/15/97 1,000 1,006 1,009 -14- EXHIBIT 1 THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/95 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE - ---------------------------------------------------------------------------- NIPPON TELE PHONE & TELE GRAPH 9.500% 12/19/95 $8,960 $8,968 $8,968 NIPPON TELEG & TEL CORP 9.500% 07/27/98 10,000 10,748 10,918 NISSAN AUTO RECEIVABLES GRANTOR TR 6.100% 08/15/01 20,306 20,319 20,420 NISSAN AUTO RECEIVABLES 1994-A GRANTOR 6.450% 09/15/99 17,838 17,934 17,969 NISSAN AUTO RECEIVABLES 1992-B 4.300% 09/15/97 929 920 924 NORTHERN ILL GAS CO 1ST MTG 4.500% 03/15/96 11,000 10,989 10,956 NORWEST FINL INC NT 7.100% 11/15/96 2,300 2,345 2,330 NORWEST FINL INC 6.250% 02/15/97 7,750 7,736 7,785 NORWEST FINL INC SHELF 41 6.500% 05/15/97 13,850 13,920 14,008 NORWEST CORP M/T/N 7.700% 11/15/97 5,000 5,152 5,185 NORWEST FINL INC M/T/N 5.200% 04/29/97 1,000 980 990 OLYMPIC AUTO MOBILE RECEIVABLES TR 5.650% 01/15/01 2,691 2,688 2,687 OLYMPIC AUTOMOBILE RECEIVABLES TR 6.850% 06/15/01 8,132 8,115 8,286 PEOPLES BK CR CARD MASTER TR 4.800% 12/15/99 24,300 24,291 24,197 PEOPLES BK CR CARD MASTER TR 5.100% 08/15/97 25,000 24,996 24,859 PFIZER INC 7.125% 10/01/96 29,750 30,354 30,074 PFIZER INC 6.500% 02/01/97 2,000 2,003 2,017 PITNEY BOWES CR CORP 5.625% 02/15/97 20,500 20,397 20,481 PITNEY BOWES CR CORP 6.250% 06/01/98 5,000 5,032 5,062 PREMIER AUTO TR 4.900% 10/15/98 15,431 15,393 15,341 PREMIER AUTO TR 4.900% 12/15/98 12,000 12,020 11,920 -15- EXHIBIT 1 THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/95 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE - ---------------------------------------------------------------------------- PREMIER AUTO TR 1993-5 ASSET BACKED NT 4.220% 03/02/99 $4,573 $4,568 $4,490 PREMIER AUTO TR 4.750% 02/02/00 2,984 2,984 2,953 PREMIER AUTO TR 6.350% 05/02/00 7,240 7,221 7,323 PREMIER AUTO TR 6.450% 05/15/98 8,400 8,410 8,498 PREMIER AUTO TR 6.650% 11/02/98 4,650 4,674 4,734 PREMIER AUTO TR 6.650% 03/04/97 4,982 4,980 4,996 PREMIER AUTO TRUST 6.850% 10/04/97 5,000 4,996 5,048 PREMIER AUTO TR 5.900% 07/06/99 5,000 4,998 5,029 PROCTER & GAMBLE CO NT 6.850% 06/01/97 21,500 21,645 21,839 RCSB 1991-B GRANTOR TR 6.700% 04/15/97 835 834 835 RABOBANK NEDER LAND M/T/N 4.500% 01/25/96 3,000 2,999 2,994 RABOBANK NEDER LAND M/T/N 4.550% 03/01/96 5,000 5,000 4,985 RABOBANK NEDER LAND M/T/N 6.450% 01/17/97 3,000 2,989 3,030 RABOBANK NEDER LAND M/T/N 6.625% 05/26/97 3,000 2,995 3,047 RABOBANK NEDER LAND M/T/N 6.640% 04/25/97 4,000 4,007 4,060 RABOBANK NEDER LAND M/T/N 6.660% 03/03/97 5,000 5,005 5,062 REPUBLIC N Y CORP 8.375% 05/01/96 3,720 3,770 3,754 RESIDENTIAL FDG MTG SECS I INC MTG PASS 5.500% 02/25/08 2,676 2,676 2,664 SCFC RECREATIONAL VEH LN TR 7.250% 09/15/06 5,797 5,801 5,835 SPNB HOME EQUITY LN ASSET BKD CTF 8.100% 06/15/20 1,704 1,741 1,767 SAAB 1992-A TRUST SR CTF RESTR 6.100% 06/15/98 583 582 589 SARA LEE CORP M/T/N 4.650% 01/14/97 13,000 12,981 12,847 SEARS CR ACCOUNT MASTER TR I 5.900% 11/15/98 24,885 24,915 24,924 SEARS CR ACCOUNT MASTER TR II 6.250% 01/15/03 20,000 20,010 20,292 -16- EXHIBIT 1 THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/95 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE - ---------------------------------------------------------------------------- SEARS CR ACCOUNT TR 8.850% 03/15/98 $5,500 $5,522 $5,550 SEARS CR ACCOUNT TRUST 8.600% 05/15/96 5,000 5,037 5,066 SHELL OIL CO 7.700% 02/01/96 9,000 9,041 9,022 SHELL OIL CO 6.000% 01/15/97 23,565 23,423 23,622 GABS SIGNET TR 93-3A 4.850% 12/15/96 35,000 34,990 34,726 SIGNET MASTER TR SER 1994-4 ASSET BACKED 6.800% 08/15/97 20,000 19,986 20,431 STANDARD CR CARD TR 94-1A 4.650% 03/07/99 50,000 49,784 49,435 STANDARD CR CARD MASTER TR I 6.750% 06/07/00 5,000 5,025 5,119 THE MONEY STORE HOME EQUITY TR V/R 6.100% 05/15/22 6,643 6,649 6,484 TMS HOME EQUITY LN TR 5.175% 07/15/06 6,269 6,318 6,173 TOYOTA AUTO RECEIVABLES 5.850% 03/15/01 27,460 27,412 27,500 TOYOTA MTR CR CORP M/T/N 6.875% 10/15/96 5,000 5,000 5,053 TOYOTA MTR CR CORP M/T/N 6.625% 04/15/96 5,000 4,984 5,014 TOYOTA MTR CR CORP M/T/N 7.700% 01/23/97 5,000 5,038 5,108 UBS FIN DEL INC M/T/N 6.200% 10/01/98 15,000 15,012 15,213 USAA CAP CORP 144A M/T/N 4.490% 10/28/96 20,000 20,000 19,770 USAA CAP CORP M/T/N 144A 4.760% 01/28/97 10,000 10,000 9,896 UNILEVER CAP CORP 8.875% 03/26/98 7,900 8,299 8,423 WACHOVIA BK N C N A M/T/N 5.000% 01/29/96 11,600 11,600 11,584 WACHOVIA BK N C N A M/T/N 4.875% 02/18/97 5,000 4,983 4,961 WACHOVIA BK N C M/T/N 6.550% 06/09/97 5,000 4,988 5,071 -17- EXHIBIT 1 THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/95 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE - ---------------------------------------------------------------------------- WACHOVIA BK N C N A M/T/N 6.650% 07/14/97 $10,000 $9,987 $10,164 WAL MART STORES INC 8.000% 05/01/96 7,170 7,254 7,231 WAL MART STORES INC 5.500% 09/15/97 14,945 14,688 14,887 WAL MART STORES INC SR NT 5.500% 03/01/98 13,150 12,963 13,061 WARNER LAMBERT CO DEB 8.125% 04/24/96 4,600 4,638 4,646 WISCONSIN ELEC PWR CO 1ST MTG 4.500% 03/15/96 6,000 6,000 5,977 WORLD OMNI AUTOMOBILE LEASE 6.050% 11/25/01 10,000 10,000 10,050 WORLD OMNI 1994-A AUTOMOBILE 6.450% 09/25/00 3,100 3,069 3,118 EUROPEAN INVT BK 7.750% 07/09/96 8,000 8,150 8,092 SHIKOKU ELECTRIC POWER 10.250% 04/26/96 10,000 10,217 10,150 HEWLETT PACKARD FIN CO DEB 7.500% 12/05/97 15,000 15,367 15,506 INTERNATIONAL FINANCE CORP DEB 5.125% 02/09/96 10,000 10,008 9,978 TOYOTA MOTOR CREDIT CORP 6.500% 02/04/97 10,000 10,117 10,088 TOYOTA MTR CR CORP SR UNSUB 5.000% 03/10/97 5,000 4,897 4,959 ---------------------------------- TOTAL CORPORATE BONDS $1,798,291 $1,804,852 $1,809,755 OTHER BONDS AFRICAN DEV BK 9.500% 12/15/95 $6,000 $6,005 $6,005 ABBEY NATL TREAS CO GTD 5.000% 01/31/97 30,000 29,506 29,775 ASIAN DEV BK BD 10.750% 06/01/97 2,000 2,131 2,140 BELGIUM KINGDOM 5.280% 01/12/96 10,000 10,006 9,925 BRITISH TELECOM FIN BV 7.625% 09/30/96 23,235 23,735 23,570 CANADIAN GOVT SEDOL #416942 9.000% 02/27/96 40,590 40,973 40,829 -18- EXHIBIT 1 THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/95 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE - ---------------------------------------------------------------------------- DENMARK KINGDOM NT 7.750% 12/15/96 $3,000 $3,070 $3,059 DU PONT E I NEMOURS & CO 8.500% 04/17/96 10,000 10,141 10,078 EXPORT IMPORT BK JAPAN 10.125% 10/28/97 2,000 2,137 2,156 GUINNESS FINANCE 9.000% 01/08/96 5,000 5,017 5,006 HALIFAX BUILDING SOCIETE 5.000% 06/21/96 10,000 10,030 9,956 INTER AMERICAN DEV BANK 8.375% 12/27/95 13,190 13,223 13,206 JAPAN FINL CORP 9.875% 02/23/96 5,000 5,053 5,038 JOHNSON & JOHNSON M/T/N 8.220% 03/20/98 5,000 5,242 5,265 KANSAI ELEC PWR EURO 10.000% 03/30/96 10,000 10,155 10,119 MOUNTAIN STS TEL & TEL EURO 7.625% 05/15/96 11,000 11,131 11,688 NATIONSBANK AUTO GRANTOR TR. 5.850% 06/15/02 15,000 14,995 14,995 NIPPON TELE & TELE 8.500% 12/20/96 4,000 4,105 4,105 OESTERREICHISCHE KONTROLL BANK A G 7.125% 12/06/96 3,000 3,041 3,041 OSPREY MTG SECS LTD NO.7 CL A2 MTG BK 5.250% 07/10/97 6,500 6,537 6,441 QUANTAS AIRWAYS SEDOL# 471544 8.625% 03/27/96 2,445 2,453 2,465 SBC FIN (CAYMAN) LTD DEB 7.750% 09/11/96 6,000 6,111 6,092 SAINSBURY J 8.500% 05/09/96 3,000 3,047 3,031 SAINSBURY J 9.125% 10/02/96 3,000 3,104 3,079 SPAIN KINGDOM M/T/N 8.400% 06/13/96 5,000 5,057 5,079 SPAIN (KINGDOM OF) M/T/N 8.750% 12/22/97 4,000 4,193 4,263 KINGDOM OF SPAIN M/T/N 8.650% 12/15/95 1,870 1,873 1,871 TOKYO METROPOLIS JAPAN GTD 10.375% 10/20/97 2,300 2,481 2,485 UNILEVER CAP CORP 8.000% 05/28/96 25,150 25,513 25,386 -19- EXHIBIT 1 THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/95 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE - ---------------------------------------------------------------------------- BELGIUM KINGDOM DEB 8.000% 02/11/97 $11,700 $11,860 $11,992 CHUBU ELECTRIC POWER 7.000% 03/26/96 10,100 10,178 10,131 DENMARK KINGDOM UNSUB 7.250% 09/25/96 5,175 5,279 5,235 ABB INTL FIN NV KEEPWELL AGREEMENT 6.375% 02/20/96 19,000 19,065 19,000 NEW ZEALAND GOVT DEB 8.000% 04/02/97 2,075 2,108 2,132 INTER AMERICAN DEV BK EURO 7.625% 09/10/96 9,400 9,612 9,541 INTERNATIONAL BK FOR RECON & DEV DEB 9.750% 05/10/96 21,000 21,463 21,341 INTERNATIONAL BK FOR RECON DEV 9.875% 10/01/97 9,780 10,434 10,496 SWEDEN KINGDOM DEB 5.500% 12/01/95 20,400 20,400 20,400 -------------------------------- TOTAL OTHER BONDS $375,910 $380,464 $380,416 GOVERNMENT BONDS FEDERAL FARM CR BKS CONS M/T/N 6.780% 03/21/97 $11,000 $11,015 $11,167 FEDERAL FARM CR BKS CONS M/T/N 5.950% 06/06/97 15,000 15,023 15,105 FEDERAL HOME LOAN BANK 8.250% 09/25/96 4,325 4,379 4,416 FEDERAL HOME LOAN BANK 8.250% 11/25/96 3,065 3,112 3,143 FEDERAL HOME LN BKS 4.380% 03/04/96 4,000 3,975 3,986 FEDERAL HOME LN BKS CONS BD 7.145% 01/26/96 10,000 10,006 10,020 FEDERAL HOME LN BKS 6.850% 02/28/96 5,000 5,003 5,013 -20- EXHIBIT 1 THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/95 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE - ---------------------------------------------------------------------------- FEDERAL HOME LN BKS 6.940% 03/14/97 $5,000 $5,051 $5,085 FEDERAL HOME LN BKS 6.995% 11/08/96 8,000 7,986 8,098 FEDERAL HOME LOAN BANK CONS 6.525% 07/11/97 9,465 9,446 9,604 FEDERAL HOME LN BKS CONS BD 6.440% 07/25/97 10,000 9,958 10,137 FEDERAL HOME LN BKS 7.310% 01/04/96 5,000 5,003 5,006 FEDERAL HOME LN BKS CONS BD 6.645% 08/28/97 3,320 3,349 3,379 FEDERAL HOME LN BKS DEB 5.545% 06/09/97 5,000 4,987 5,000 FEDERAL HOME LN BK 5.740% 06/23/97 10,000 9,982 10,030 FEDERAL HOME LN BKS M/T/N 6.235% 05/30/97 5,000 4,997 5,050 FEDERAL HOME LN BKS 6.875% 11/18/96 4,825 4,821 4,885 FEDERAL HOME LOAN BANK DISCOUNT N/A 01/16/96 5,000 4,952 4,952 FEDERAL HOME LN MTG CORP DEB 7.750% 01/27/97 16,000 16,201 16,385 FEDERAL HOME LN MTG CORP DEB 6.840% 02/28/96 10,000 10,007 10,025 FEDERAL HOME LN MTG CORP NT 6.790% 02/20/96 25,000 25,000 25,055 FEDERAL HOME LN MTG CORP DEB 5.470% 03/21/97 5,000 4,981 4,995 FEDERAL HOME LN MTG CORP 4.125% 10/21/96 5,000 4,886 4,935 FEDERAL HOME LN MTG CORP DEB 7.860% 01/21/97 10,000 10,158 10,248 FEDERAL HOME LN MTG CORP REMIC 7.860% 01/15/97 1,500 1,521 1,537 FEDERAL NATL MTG ASSN 8.000% 07/10/96 5,000 5,030 5,070 FEDERAL NATL MTG ASSN AGEN 8.150% 08/12/96 2,000 2,020 2,035 FEDERAL NAT'L MTGE ASSN SER E 9.550% 09/10/97 5,000 5,318 5,338 -21- EXHIBIT 1 THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/95 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE - ---------------------------------------------------------------------------- FEDERAL NATL MTG ASSN M/T/N 7.070% 11/18/96 $5,000 $5,015 $5,070 FEDERAL NATL MTG ASSN M/T/N 6.150% 06/23/97 10,000 9,949 10,102 FEDERAL NATL MTG ASSN M/T/N 6.770% 04/14/97 10,000 10,015 10,149 FEDERAL NATL MTG ASSN M/T/N 5.830% 09/15/97 5,000 4,992 5,027 FEDERAL NAT'L MTGE ASSN M/T/N 5.650% 10/20/97 10,000 9,981 10,030 U S TREASURY NOTES 4.750% 02/15/97 10,000 9,991 9,919 U S TREASURY NOTES 6.500% 05/15/97 10,000 10,008 10,152 -------------------------------- TOTAL GOVERNMENT BONDS $267,500 $268,118 $270,148 COMMERCIAL PAPER AMERICAN EXPRESS CR CO C/P CPDS N/A 01/26/96 $15,000 $14,865 $14,865 FORD MOTOR CR COMPANY CPDS N/A 02/07/96 20,000 19,781 19,781 GENERAL ELEC CAP CORP DISC C/P CPDS N/A 01/08/96 10,000 9,700 9,700 GENERAL ELEC CAP CORP DISC C/P CPDS N/A 01/12/96 5,000 4,847 4,847 GENERAL ELEC CAP CORP DISC C/P CPDS N/A 12/08/95 30,000 29,890 29,890 WARNER LAMBERT CO CPDS N/A 12/18/95 10,000 9,722 9,722 ASSOC CORP OF NO. AMER CPDS N/A 12/04/95 20,000 19,939 19,939 -------------------------------- TOTAL COMMERCIAL PAPER $110,000 $108,744 $108,744 -22- EXHIBIT 1 THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/95 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE - ---------------------------------------------------------------------------- CERTIFICATE OF DEPOSITS AMERICAN EXPRESS CENTURION BK C/D 6.400% 04/28/98 $2,000 $1,995 $2,022 BAYERISHE LANDES BANK C/D 6.300% 02/23/96 6,000 5,989 6,014 DEUTSCHE BK AG C/D V/R 7.498% 01/21/96 20,000 20,209 20,334 DRESDNER BANK A G NY BRANCH C/D 5.400% 12/21/95 2,000 2,001 2,000 MBNA AMER BK N A NEWARK DEL C/D 4.100% 10/15/96 5,000 4,987 4,957 MBNA AMER BK N A NEWARK DEL C/D 4.300% 09/03/96 10,000 9,977 9,936 MBNA AMER BK N A NEWARK DEL C/D 4.250% 09/09/96 5,000 4,986 4,968 MBNA AMER BK N A NEWARK DEL C/D 4.200% 09/30/96 10,000 9,973 9,927 MERCANTILE SAFE DEP & TR CO C/D 4.770% 03/29/96 10,000 10,000 9,985 MERCANTILE SAFE DEP & TR CO C/D 6.820% 01/08/96 5,000 5,000 5,070 MERCANTILE SAFE DEP & TR CO N/T C/D 6.850% 04/04/96 5,000 5,000 5,027 MERCANTILE-SAFE DEP & TR CO N/T C/D 6.850% 04/04/96 5,000 5,000 5,027 OLD KENT BK & TR CO C/D 4.650% 05/15/96 10,000 10,000 9,978 OLD KENT BANK AND TR CO C/D 6.560% 05/30/97 5,000 5,000 5,048 ---------------------------------- TOTAL CERTIFICATE OF DEPOSITS $100,000 $100,117 $100,293 ---------------------------------- TOTAL FIXED INCOME SECURITIES $2,651,701 $2,662,295 $2,669,356 -23- EXHIBIT 1 THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/95 (thousands of dollars) MATURITY AMORTIZED CURRENT DESCRIPTION COUPON DATE PAR VALUE COST VALUE - ---------------------------------------------------------------------------- SHORT TERM INVESTMENTS BEAR STEARNS MASTER NOTE N/A N/A $27,201 $27,201 $27,201 NOMURA SECURITIES INTL MASTER NOTE N/A N/A 25,000 25,000 25,000 BANK OF NEW YORK SHORT TERM INVEST- MENTS N/A N/A 12,052 12,052 12,052 ------------------------------- TOTAL SHORT TERM INVESTMENTS $64,253 $64,253 $64,253 PARTICIPANT LOANS (ANNUAL INTEREST RATES FROM 10.5 TO 6.5, MAXIMUM PERIOD OF REPAYMENT IS 60 MONTHS) N/A N/A $158,790 $158,790 $158,790 -------------------------------- TOTAL COMMON ASSET INVESTMENTS $2,874,744 $2,885,338 $2,892,399 ================================== -24- EXHIBIT 1 THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES ITEM 27a-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES 11/30/95 (thousands of dollars) SHARES/ CURRENT FUND/ISSUE UNITS COST VALUE - -------------------------------------- -------------------------------- EXXON CORPORATION PREFERRED STOCK FUND - --------------------------- EXXON CORPORATION CLASS A PREFERRED STOCK (thousands of shares) 7,552 $464,477 $584,373 SHORT TERM INVESTMENTS NOMURA SECS INTL MASTER NOTE $12,239 $12,239 $12,239 BEAR STEARNS MASTER NOTE 500 500 500 -------------------------------- TOTAL SHORT TERM INVESTMENTS $12,739 $12,739 $12,739 EXXON CORPORATION COMMON STOCK FUND - ----------------------------- EXXON CORPORATION COMMON STOCK (thousands of shares) 42,383 $1,954,982 $3,279,397 EQUITY PORTFOLIO FUND - ---------------------------- BZW EQUITY INDEX FUND (thousands of units) 3,163 $240,186 $428,716 EXTENDED MARKET PORTFOLIO FUND - ---------------------------- BZW EXTENDED EQUITY INDEX FUND (thousands of units) 10,428 $112,391 $135,879 -25- EXHIBIT 2 THRIFT PLAN OF EXXON CORPORATION AND PARTICIPATING AFFILIATES ITEM 27d-SCHEDULE OF REPORTABLE TRANSACTIONS NOVEMBER 30, 1995 (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 - --------- ----- --------- -------- ---- 7,104,460 8,688,903 $479,377 $602,250 $78,087 Schedule prepared following the alternative format prescribed at 29 CFR 2520.103-6(d)(2) for a series of transactions involving securities of the same issue as described at 29 CFR 2520.103-6(c)(1)(iii). -26- 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 Plan of Exxon Corporation and Participating Affiliates (the Thrift Plan) at November 30, 1995 and 1994, and the changes in its net assets available for benefits for the year ended November 30, 1995, in conformity with generally accepted accounting principles. These financial statements are the responsibility of the Trustee of the Thrift Plan; 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 Plan, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for the opinion expressed above. Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of assets held for investment purposes and reportable transactions are presented for purposes of additional analysis and are not a required part of the basic financial statements but are supplementary information required by ERISA. The Fund Information in the statement of net assets available for benefits and the statement of changes in net assets available for benefits is presented for purposes of additional analysis rather than to present the statement of net assets available for benefits and the statement of changes in net assets available for benefits of each fund. The supplemental schedules and Fund Information have been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. PRICE WATERHOUSE LLP Houston, Texas February 15, 1996 -27- 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 Affiliates of our report dated February 15, 1996 appearing on page 27 of this Annual Report on Form 11-K. PRICE WATERHOUSE LLP Houston, Texas February 15, 1996 -28- 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 AFFILIATES (Name of Plan) /s/ Edgar A. Robinson _________________________ Edgar A. Robinson Chairman, Thrift Trustee Dated: February 15, 1996 -29-