Credit Watch List--4/30/01

Attached is a revised Credit Watch listing as of 4/30/01. Please note that
Imperial Sugar Company, Beaumont Methanol Limited Partnership, Terra
Industries, Terra International, Terra Nitrogen Corp. (and LP) and Terra
Resources were all placed on NO TRADES. Also, AK Steel Corporation, Jonan
Gas Marketing and Royster-Clark Inc. are all new additions that require
Credit approval.
If there are any personnel in your group that were not included in this
distribution, please insure that they receive a copy of this report.
To add additional people to this distribution, or if this report has been
sent to you in error, please contact Veronica Espinoza at x6-6002.
For other questions, please contact Bill Bradford at x3-3831, Russell Diamond
at x5-7095, or Brant Reves at x3-9897.