Notes to Consolidated Financial Statements

(amounts in thousands, except share data, in all notes unless otherwise noted)

NOTE C: EARNINGS PER SHARE RECONCILIATION

The following table sets forth the computation of basic and diluted earnings per share before extraordinary item:

The assumed conversion of preferred shares was dilutive for the year ended December 31, 1998. For the years ended December 31, 1997 and 1996, the conversion of preferred was not assumed due to an anti-dilutive effect.

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