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The following is an excerpt from a S-4/A SEC Filing, filed by ZENITH ELECTRONICS CORP on 5/28/1999.
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ZENITH ELECTRONICS CORP - S-4/A - 19990528 - EXHIBIT_99

EXHIBIT 99AF

ZENITH ELECTRONICS
CORPORATION
MICROCIRCUITS PLANT #6

DATE OF INSPECTIONS: MARCH 22 - APRIL 10, 1998

EFFECTIVE DATE OF VALUATION: APRIL 1, 1998

APPRAISERS: WILLIAM J. GARDNER, JR., ASA
MICHAEL J. DIPROSPERO, ASA
SCOTT C. LONKART
JAMES F. GARDNER
LEE ROBINETTE, ASA

GREENWICH INDUSTRIAL SERVICES, LLC.
611 ACCESS ROAD
STRATFORD, CONNECTICUT 06497
(203) 380-9367


TABLE OF CONTENTS

                                                                   PAGES
                                                                   -----
1.   LETTER OF TRANSMITTAL                                           1-4

2.   EQUIPMENT                                                      1-15

3.   PHOTOGRAPHS                                                   16-18

4.   CERTIFICATION                                                     I

5.   STATEMENT OF LIMITING CONDITIONS                                 II

6.   DEFINITION OF VALUE                                          III-IV

7.   DEFINITION OF CONDITIONS                                          V

8.   STATEMENT REGARDING THE AMERICAN SOCIETY OF APPRAISERS           VI


May 14, 1998

Mr. Richard Lewis
Director, Quality
Zenith Electronics Corp.
1000 Milwaukee Avenue
Glenview, IL 60025-2493

Re: Machinery and Equipment Appraisal
Zenith Electronics Corporation
Microcircuits - Plant #6

Dear Mr. Lewis:

In accordance with your recent request, Greenwich Industrial Services conducted detailed on-site inspections between March 22 and April 10, 1998 of the machinery belonging to Zenith Electronics Corporation, located at Melrose Park, IL, Glenview, IL, Chicago Warehouse Plant #5, Chicago Plant #6, Reynosa, MX, Chihuahua, MX, Ciudad Juarez, MX, and Matamoros, MX. The appraisal consisted of on-site inspections and subsequent office review, research and analysis. The purpose of the inspections was to determine the Forced Liquidation Value, Fair Market Value and Fair Market In-Place Value for corporate decision making purposes. The effective date of this valuation is April 1, 1998.

Greenwich Industrial Services conducted a walk through inspection in February 1998, of the equipment at each of the facilities listed above. The current appraisal is mutually exclusive and supercedes any and all prior assessments. Based on the detailed nature of the current assignment and additional research conducted on the equipment, the values have been altered in numerous instances.

Zenith Electronics Corporation is an international manufacturer of televisions, cable boxes, remote controls and related products. The company has been a well-known producer of electronic components for many years and has significant name brand recognition.

The Zenith Microcircuits facility (Plant #6) has machinery consisting of lasers, heat treating furnaces, assembly and testing equipment. The facility, as well as the equipment, were well laid out and orderly and appeared to be in good operating condition.


Zenith Electronics Corporation
May 14, 1998

Page 2

The following report is a detailed break out of the equipment located at the above facility. The information contained herein is one segment in the valuation process and should be considered within the context of the overall assignment.

In appraising each of the facilities, Greenwich Industrial Services did not look at the overall business value of the corporation, nor the values of the real estate including land, building or site improvements. We did however, consider the following: workflow of the product, capability constraints, safety issues, quality controls, maintenance of the equipment, industry trends, location of the facility, current technology and overall working conditions and environment. Greenwich Industrial Services also considered all forms of obsolescence including, economic, functional and physical deterioration.

As part of our appraisal assignment, Zenith requested that we were to assist the company with a new asset identification system. The scope of that process was to tag individual pieces of equipment with an estimated liquidation value greater than $1,000. It should be noted that we were provided with stickers from the company and that not all of the equipment with values greater than $1,000 were tagged due to the nature of the equipment or the fact that it may have been in operation. The majority of office equipment was not tagged due to the inappropriate mark the stickers would make on the furniture. Upon our final review of each of the plants visited, we did notice that several of the stickers had already been removed. In the future we would suggest a stronger adhesive metal plate identification be utilized. We also left the remaining rolls of tags with each of the Zenith facilities for identification of future acquisitions.

Since the last Walk-Through Appraisal report was published, it is important to note that a significant amount of changes have taken place including equipment being transferred to other locations within Zenith, new equipment acquisitions, new departments being added or implemented and an entire plant (Plant #70) being moved.

It is also important to note that due to the detailed aspect of this appraisal report, new discoveries were uncovered including: operating efficiencies and inefficiencies, useful age/life findings on numerous key pieces of equipment and more detailed information on all forms of obsolescence present. Greenwich Industrial Services has also conducted further market analysis in order to find comparable sales of similar pieces of equipment.

The Forced Liquidation Value reflected, represents the gross amount in U.S. Dollars that, in our opinion, would be realized if the assets were sold in a forced situation at a properly advertised and conducted public sale within a 60-90 day time frame, under present economic trends. Conclusions taken into consideration are physical location, difficulty of removal, physical condition, adaptability, specialization, marketability, overall appearance and psychological appeal of the assets. Further, the ability of the asset group to draw sufficient prospective buyers to insure competitive offers is considered. All assets would be sold on a piecemeal basis "as is/where is" with purchasers responsible for removal of assets at their own risk and expense. Any deletions or additions to the


Zenith Electronics Corporation
May 14, 1998

Page 3

package could change the psychological and/or monetary appeal necessary to obtain the value indicated.

The Fair Market Value reflected represents the most probable amount an asset should bring in a competitive and open market under all conditions requisite to a fair sale with the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus; (a) buyer and seller are typically motivated; (b) both parties are well informed or well advised, and acting in what they consider their own best interest; (c) a reasonable time is allowed for exposure to the open market; (d) payment is made in terms of cash in U.S. Dollars; and (e) the price represents the normal consideration for the asset sold, unaffected by special or creative financing, or sales concessions granted by anyone associated with the sale.

The Fair Market In-Place Value reflected represents the value of the assets in their present location assuming the facility will continue in the manufacture of its present product at a profitable level. The values reflected take into consideration all costs associated with rigging, installation, wiring, plumbing, and dismantling. Greenwich Industrial Services has not taken into consideration the financial condition, goodwill, product lines, or the future markets of Zenith Electronics Corp.

This appraisal was conducted, and the report prepared, in accordance with the attached Appraisal Definitions and Conditions, which are considered an integral part thereof. This appraisal was conducted in accordance with customary appraisal practices and represents the best judgment of the appraiser. The appraisers further state that they have no direct or indirect, present or contemplated future interest in the property appraised and that the fee for services is in no way contingent on the value shown herein.

                           ZENITH ELECTRONICS CORP.
                           ------------------------

MICROCIRCUITS - PLANT #6
------------------------

         TOTAL FORCED LIQUIDATION VALUE:             $477,150.00
         TOTAL FAIR MARKET VALUE:                    $631,000.00
         TOTAL FAIR MARKET IN-PLACE VALUE:           $913,175.00

We hereby certify that, to the best of our knowledge and belief, the statements of fact contained in this report are true and correct and this report has been prepared in conformity with the Uniform Standards of Professional Appraisal Practice of The Appraisal Foundation and the Principles of Appraisal Practice and Code of Ethics of the American Society of Appraisers.

No responsibility is assumed by the appraiser for matters which are legal in nature nor is any opinion of the title rendered herewith. This appraisal assumes good title. Any liens or encumbrances which may exist have been disregarded, as well as any delinquency in the payment of general taxes or special assessments.


Zenith Electronics Corporation
May 14, 1998

Page 4

We will retain a copy of this report in our files with the original field notes for a period of seven years. This company considers these reports and notes confidential, and we do not permit access to them by anyone without your authorization.

We enclose herewith our billing for services rendered. We will maintain a work file should you have any further questions.

Very truly yours,

William J. Gardner, Jr. ASA                          Michael J. DiProspero, ASA
President                                            Appraiser



James F. Gardner                                     Scott C. Lonkart
Appraiser                                            Appraiser


GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
MICROCIRCUITS PLANT #6
APRIL 1, 1998

-----------------------------------------------------------------------------------------------------------------------------------
  ITEM #   ID #     DESCRIPTION                                                               FLV            FMV          FMIPV
-----------------------------------------------------------------------------------------------------------------------------------
  LAB
-----------------------------------------------------------------------------------------------------------------------------------
    1     24000     ASSOCIATED ENVIRONMENTAL SYSTEM LAB OVEN, HONEYWELL                $   600.00         $   750.00     $ 1,000.00
                    DIGITAL TEMP CONTROLS, PROP #8040

    2     24001     DAMON IEC UV CENTRIFUGE                                            $   500.00         $   700.00     $   900.00

    3     24002     LAB MILL, 3 ROLL, 10", 5: DIAMETER                                 $ 2,000.00         $ 3,000.00     $ 4,000.00

    4     24003     KENT LAB MILL S/N 671166, 3 ROLL, 8", 4" DIAMETER ROLLS            $ 1,500.00         $ 2,500.00     $ 3,500.00

    5     24004     BLUE-M STABIL THERM OVEN, MODEL #OV-5208-2, S/N JT-298             $   600.00         $   750.00     $ 1,000.00

    6               MISC. LAB SUPPORT EQUIPMENT INCLUDING: HEWLETT PACKARD             $ 2,000.00         $ 2,500.00     $ 3,500.00
                    MODEL #3456A, DIGITAL VOLTMETER, (3) BROOKFIELD
                    VISCOMETERS, BROOKFIELD MODEL #EX-200 ULTRASONIC BATH, LAB
                    REFRIGERATOR, MIXERS, LAB STANDS, ULTRASONIC CLEANERS,
                    STORAGE CABINETS, LAB FURNITURE, METAL DESK, CHAIRS,
                    (2) ZENITH PC'S, (2) DOT MATRIX PRINTERS, (2) METTLER SCALES,
                    (2) BAUSCH & LOMB MICROSCOPE, AMETECK TESTER

    7     24005     NIKON MODEL #V-12 PROFILE PROJECTOR, S/N 61296, 14"                $ 4,000.00         $ 4,800.00     $ 5,500.00
                    W/HEIDENHAIN 2 AXIS DRO

    8     24006     BLUE-M STABIL THERM LAB OVEN MODEL                                 $   550.00         $   700.00     $   900.00
                    #OV-500C-2, S/N 4677

    9               THEIMER VACUUM EXPOSURE SYSTEM 24X30"                              $   400.00         $   600.00     $   850.00

    10              MISC. LAB SUPPORT EQUIPMENT INCLUDING: DEXON LABORATORY            $ 1,500.00         $ 2,000.00     $ 2,750.00
                    BENCH W/FUME HOOD, LEEDAL LIGHT TABLE, BAUSCH & LOMB
                    MICROSCOPE, NIKON MICROSCOPE, DESKS, METAL SHELVING, WORK
                    BENCH, FILE CABINETS, (6) SECTIONS OF STAINLESS STEEL
                    RACKING, DIGIMATIC INDICATOR
-----------------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                         $13,650.00         $18,300.00     $23,900.00
-----------------------------------------------------------------------------------------------------------------------------------

Page 1

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
MICROCIRCUITS PLANT #6
APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #   ID #     DESCRIPTION                                                           FLV                FMV          FMPV
------------------------------------------------------------------------------------------------------------------------------------
  WIRE BONDING DEPARTMENT
-----------------------------------------------------------------------------------------------------------------------------------
    11    24007     BLUE-M STABIL THERM LAB OVEN, MODEL #OV-475A-2, S/N LT-482        $   450.00         $   550.00     $    750.00

    12    24008     HUGHES MODEL #2460-1 AUTOMATIC WIRE BONDER, S/N 275 W/RCA         $ 6,000.00         $ 8,000.00     $ 10,000.00
                    CAMERA, PANASONIC MONITOR, W/BAUSCH & LOMB MICROSCOPE

    13    24009     HUGHES MODEL #2460-1 AUTOMATIC WIRE BONDER, S/N 341 W/RCA         $ 6,000.00         $ 8,000.00     $ 10,000.00
                    CAMERA, PANASONIC MONITOR, W/BAUSCH & LOMB MICROSCOPE

    14    24010     BLUE-M STABIL THERM LAB OVEN, MODEL #OV-490A-2, S/N               $   450.00         $   600.00     $    850.00
                    OV3-10785

    15    24011     LAURIER ASSOCIATES, HUGHES BENCH MODEL MANUAL WIRE BONDER,        $ 3,000.00         $ 3,500.00     $  4,500.00
                    W/BAUASCH & LOMB MICROSCOPE, FIBRE LITE 190, S/N N/A

    16    24012     LAURIER ASSOCIATES, HUGHES BENCH MODEL MANUAL WIRE BONDER,        $ 3,000.00         $ 3,500.00     $  4,500.00
                    W/BAUASCH & LOMB MICROSCOPE, FIBRE LITE 190, S/N N/A

    17              MISC. SUPPORT WIRE BONDING INCLUDING: WORK BENCHES, SWIVEL        $   600.00         $   800.00     $  1,100.00
                    CHAIRS, BAUSCH & LOMB STEREO MICROSCOPE, FIBRE LITES,
                    STIRRERS, STORAGE CABINETS, ZENITH PC, PARTITIONS

    18    24013     ORTHODYNE ELECTRONICS MODEL #20 WIRE BONDER, S/N 32969            $   650.00         $   800.00     $  1,100.00

-----------------------------------------------------------------------------------------------------------------------------------
  TOOLROOM
-----------------------------------------------------------------------------------------------------------------------------------
    19    24014     CINCINNATI TOOL & CUTTER GRINDER CONVERTED TO SURFACE             $ 1,000.00         $ 1,300.00     $  1,750.00
                    GRINDER, S/N 6DIP5V-10

    20    24015     DOALL MODEL #D-6 SURFACE GRINDER, W/6X18" PERMANENT               $ 2,800.00         $ 3,500.00      $ 4,800.00
                    MAGNETIC CHUCK, S/N 39611085
------------------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                        $23,950.00         $30,550.00      $39,350.00
------------------------------------------------------------------------------------------------------------------------------------

Page 2

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
MICROCIRCUITS PLANT #6
APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #    ID #    DESCRIPTION                                                               FLV            FMV          FMIPV
------------------------------------------------------------------------------------------------------------------------------------
  TOOLROOM (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    21    24016     TREE VERTICAL MILLING MACHINE MODEL 2UVR, S/N 9659, 9X42"         $ 4,000.00         $ 4,600.00      $ 5,800.00
                    TABLE, W/ ACU-RITE II DRO, 1 1/2 HP

    22    24017     TREE VERTICAL MILLING MACHINE MODEL 2UVRC,  9X42"                 $ 4,200.00         $ 4,800.00      $ 6,000.00
                    TABLE,S/N 10300  W/ ACU-RITE PRO 2 AXIS DRO, 1 1/2 HP

    23    24018     TREE VERTICAL MILLING MACHINE MODEL #2UVRC, 9X42" TABLE,          $ 4,000.00         $ 4,600.00      $ 5,800.00
                    S/N 9660, W/ACU-RITE PRO 2 AXIS DRO, 1 1/2 HP

    24    24019     JONES & LAMSON MODEL #PC-14A OPTICAL COMPARATOR, S/N              $ 2,500.00         $ 3,000.00      $ 4,000.00
                    F-45451, 14" CAPACITY

    25    24020     HARDINGE MODEL #HLV-H PRECISION CHUCKING LATHE, S/N               $ 8,000.00         $ 9,000.00      $10,500.00
                    HLV-H-691, W/TOOLING, W/ ACU-RITE QUIKCOUNT II DRO

    26    24021     SHELDON TOOLROOM LATHE, CATALOG #ES-46-P, S/N ES-31347,           $ 2,500.00         $ 3,000.00      $ 4,000.00
                    10X24", CABINET BASE

    27    24022     ROCKWELL MODEL #4JR HARDNESS TESTER, S/N 4JR-2775                 $   500.00         $   700.00      $   850.00

    28    24023     (2) K.H. HUPPERT BENCH MODEL FURNACES, S/N'S 404, 567,            $ 1,000.00         $ 1,500.00      $ 2,200.00
                    MODEL #669DL & 12A

    29              LINCOLN IDEALARC MODEL #TIG-300/300 ARC WELDER, S/N               $   400.00         $   550.00      $   750.00
                    AC-247619, W/BERNARD RADIATOR

    30              JOHANSSON PEDESTAL BASE DRILL PRESS, S/N 11619                    $   300.00         $   350.00      $   500.00

    31              JOHANSSON PEDESTAL BASE DRILL PRESS, S/N 41623                    $   300.00         $   350.00      $   500.00

    32              DELTA 6" ENDLESS BELT SANDER                                      $   250.00         $   300.00      $   375.00

------------------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                        $27,950.00         $32,750.00      $41,275.00
------------------------------------------------------------------------------------------------------------------------------------

Page 3

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
MICROCIRCUITS PLANT #6
APRIL 1, 1998

-----------------------------------------------------------------------------------------------------------------------------------
  ITEM #   ID #     DESCRIPTION                                                               FLV            FMV          FMIPV
-----------------------------------------------------------------------------------------------------------------------------------
  TOOLROOM (CONT'D)
-----------------------------------------------------------------------------------------------------------------------------------
    33    24023     JOHNSON MODEL J HORIZONTAL METAL CUTTING BAND SAW, S/N            $   650.00         $   850.00       $ 1,150.00
                    J-12268

    34              DI-ACRO #2 MANUAL PUNCH, S/N 2988 W/ STAND                        $   350.00         $   400.00       $   500.00


    35    24024     DOALL CONTOURMATIC MODEL #3612-3 VERTICAL METAL CUTTING           $ 3,500.00         $ 4,000.00       $ 5,000.00
                    BAND SAW, 36", S/N 153-61197 W/BUTT WELD & GRIND
                    ATTACHMENT

    36              MISC. SUPPORT EQUIPMENT TOOLROOM INCLUDING: WORK BENCHES,         $ 6,000.00         $ 7,500.00       $10,000.00
                    GRANITE SURFACE PLATES, HAND NOTCHER, VISES, KNEES, DUMORE
                    DRILL PRESS, NIKON MICROSCOPE, METAL STORAGE CABINETS,
                    REAMERS, D.E. GRINDERS, PARTS BINS, ROTARY CAROUSELS,
                    TOOLING, COLLETS, CHUCKS, FANS, TOOL BOXES, PC'S, DESKS,
                    BOOKSHELVES, FILE CABINET

------------------------------------------------------------------------------------------------------------------------------------
  LASER AREA
------------------------------------------------------------------------------------------------------------------------------------
    37    24025     PHOTON SOURCES MODEL #1044V/150  C02 LASER SCRIBER S/N            $10,000.00         $15,000.00      $35,000.00
                    4180, (1977) REBUILT W/CONTROL CONSOLE, MODEL #1044/V505
                    CERAMIC SCRIBING SYSTEM, W/GEN RAD AUTOMATIC VOLTAGE
                    REGULATOR

    38              NIKON STEREO MICROSCOPE MODEL #SMZ-28                             $   300.00         $   350.00      $   400.00

    39    24026     MANHATTAN SUPPLY COMPANY MODEL #951797, 612 SURFACE               $   600.00         $   800.00      $ 1,000.00
                    GRINDER, S/N 720830, (1983)

    40    24027     COHERENT/EVERLASE 525 MODEL #HTMT-10 CO2 LASER, S/N               $25,000.00         $35,000.00      $60,000.00
                    810006, (1981) W/ANOMATIC II CONTROLS, NESLAB MODEL
                    #HX-500 COOLING UNIT, W/COHERENT 204 POWER METER

    41              TEKTRONIX MODEL #2215, 60 MHZ OSCILLOSCOPE, S/N B-014709          $   500.00         $   600.00      $   750.00

------------------------------------------------------------------------------------------------------------------------------------
                      PAGE TOTAL                                                      $46,900.00         $64,500.00      $113,800.00
------------------------------------------------------------------------------------------------------------------------------------

Page 4

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
MICROCIRCUITS PLANT #6
APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #   ID #     DESCRIPTION                                                               FLV            FMV          FMIPV
------------------------------------------------------------------------------------------------------------------------------------
  LASER AREA (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    42              TEKTRONIX MODEL #2445,150 MHZ OSCILLOSCOPE, S/N B-011766          $     600.00       $   700.00      $    850.00


    43              TEKTRONIX MODEL #453 OSCILLOSCOPE W/CART                          $     300.00       $   400.00      $    500.00


    44    24028     TERADYNE MODEL #W-311 YAG LASER, W/TRIM STATIN, MODEL             $   1,500.00       $ 3,000.00      $  5,500.00
                    #1134XT PROBER, TERADYNE POWER LINE CONTROLLER MODEL
                    #H040, TAPE SYSTEM, L-6

    45    24029     TERADYNE MODEL #W-311 YAG LASER, W/TRIM STATIN, MODEL             $   1,500.00       $ 3,000.00      $  5,500.00
                    #1134XT PROBER, TERADYNE POWER LINE CONTROLLER MODEL
                    #H040, TAPE SYSTEM, L-6

    46    24030     TERADYNE MODEL #W-311 YAG LASER, W/TRIM STATIN, MODEL             $   1,500.00       $ 3,000.00      $  5,500.00
                    #1134XT PROBER, TERADYNE POWER LINE CONTROLLER MODEL
                    #H040, TAPE SYSTEM, L-6

    47    24031     TERADYNE MODEL #W-311 YAG LASER, W/TRIM STATIN, MODEL             $   1,500.00       $ 3,000.00      $  5,500.00
                    #1134XT PROBER, TERADYNE POWER LINE CONTROLLER MODEL
                    #H040, TAPE SYSTEM, L-6

    48    24032     TERADYNE MODEL #W-311 YAG LASER, W/TRIM STATIN, MODEL             $   1,500.00       $ 3,000.00      $  5,500.00
                    #1134XT PROBER, TERADYNE POWER LINE CONTROLLER MODEL
                    #H040, TAPE SYSTEM, L-6

    49    24033     TERADYNE MODEL #W-311 YAG LASER, W/TRIM STATIN, MODEL             $   1,500.00       $ 3,000.00      $  5,500.00
                    #1134XT PROBER, TERADYNE POWER LINE CONTROLLER MODEL
                    #H040, TAPE SYSTEM, L-6

    50              LINDBERG HEVI-DUTY BENCH MODEL FURNACE, MODEL #51222, S/N         $     300.00       $   400.00      $    600.00
                    11145, MAXIMUM TEMPERATURE 2200 DEGREES F

------------------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                        $  10,200.00       $19,500.00      $ 34,950.00
------------------------------------------------------------------------------------------------------------------------------------

Page 5

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
MICROCIRCUITS PLANT #6
April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #      ID #                            DESCRIPTION                                 FLV                 FMV             FMIPV
------------------------------------------------------------------------------------------------------------------------------------
LASER AREA (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
  51             BAUSCH & LOMB STEREO MICROSCOPE W/STAND                           $    300.00         $    350.00       $    400.00


  52             CARL ZEISS MICROSCOPE                                             $    300.00         $    350.00       $    400.00


  53             (2) HEWLETT PACKARD MODEL #3478A DIGITAL MULTIMETERS              $    400.00         $    500.00       $    600.00


  54             (2) NIKON MODEL #SMZ-2B STEREO MICROSCOPES W/LIGHT SOURCE         $    700.00         $    800.00       $    900.00


  55             MISC. SUPPORT LASER AREA INCLUDING: WORK BENCHES, METAL           $  2,000.00         $  3,000.00       $  4,000.00
                 SHELVES, FILE CABINETS, POWER SUPPLIES, TERAOCHMETERS,
                 CARTS, STOOLS, PRINTERS, DIGITAL VOLTMETERS,
                 STORAGE CABINETS, FILE CABINETS, MULTIMETERS

  56    24034    DEXON LAB FILTRATION WORK BENCH                                   $    500.00         $    700.00       $  1,000.00

------------------------------------------------------------------------------------------------------------------------------------
FURNACE DEPARTMENT
------------------------------------------------------------------------------------------------------------------------------------
  57    24035    BTU ENGINEERING, TRANSHEAT MODEL #TMF-163384168E, MUFFLE          $  7,000.00         $ 10,000.00       $ 20,000.00
                 CONVEYOR FURNACE, 18" BELT, 30' TUNNELW/BTU, MODEL #3615
                 CONTROL SYSTEM, F4, S/N ZRI-10, (1983)

  58    24036    BTU ENGINEERING, TRANSHEAT MODEL #TMF-163384168E, MUFFLE          $  7,000.00         $ 10,000.00       $ 20,000.00
                 CONVEYOR FURNACE, 18" BELT, 30' TUNNELW/BTU, MODEL #3615
                 CONTROL SYSTEM, F4, S/N ZRI-10, (1983)

  59    24037    (1995) SIERRA THERM 2500 SERIES, MODEL #2K25-234C172-11A,         $ 80,000.00         $100,000.00       $125,000.00
                 THICK FILM FIRING MUFFLE CONVEYOR FURNACE, 25" BELT, 234"
                 LENGTH, S/N 7203

  60    24038    LINDBERG SOLA-BASIC MUFFLE CONVEYOR BELT FURNACE, 24"             $  7,000.00         $ 10,000.00       $ 17,000.00
                 BELT, 42' TUNNEL, (1977), F-1
------------------------------------------------------------------------------------------------------------------------------------
                 PAGE TOTAL                                                        $105,200.00         $135,700.00       $189,300.00
------------------------------------------------------------------------------------------------------------------------------------

Page 6

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
MICROCIRCUITS PLANT #6
April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #      ID #                            DESCRIPTION                                 FLV                 FMV             FMIPV
------------------------------------------------------------------------------------------------------------------------------------
FURNACE DEPARTMENT (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
  61    24039    AME CUSTOM BUILT MODEL #M2ME AUTOMATIC MATERIAL HANDLING           $ 3,000.00          $ 4,000.00        $ 7,500.00
                 UNLOADING SYSTEM, S/N 736335, W/ MODEL #C5SR STACKER, S/N
                 N/A

  62             MISC. SUPPORT FURNACE AREA INCLUDING: STAINLESS STEEL              $ 1,500.00          $ 2,000.00        $ 3,500.00
                 METRO CARTS, METAL STORAGE CABINETS, CHAIRS, TOOLBOX, SHOP
                 VAC, METAL SHELVING, SPARE PARTS, REPAIR TOOLS, METERS,
                 ETC.

------------------------------------------------------------------------------------------------------------------------------------
PRINTING DEPARTMENT
------------------------------------------------------------------------------------------------------------------------------------
  63             TENCOR SIGMASCAN W/PRINTER                                         $   200.00          $   250.00        $   300.00


  64    24040    (1996) CYBER OPTICS CYBER SCAN CX3 LASER SCANNER, S/N              $15,000.00          $20,000.00        $30,000.00
                 12014, W/ PANASONIC MONITOR, CLASS 1 LASER W/ DELL PC &
                 MONITOR

  65    24041    NIKON MODEL #6C-2 PROFILE PROJECTOR, S/N 66363, W/QUADRA           $ 3,500.00          $ 4,000.00        $ 5,000.00
                 CHEK II DRO

  66    24042    AMI-PRESCO SEMI-AUTOMATIC THICK FILM SCREEN PRINTER, MODEL         $ 2,500.00          $ 3,500.00        $ 5,500.00
                 #647, S/N 1160760, P-11

  67    24043    AMI-PRESCO SEMI-AUTOMATIC THICK FILM SCREEN PRINTER, MODEL         $ 3,000.00          $ 4,000.00        $ 6,000.00
                 #MSP-885, S/N 710380, P-12

  68    24044    AMI-PRESCO SEMI-AUTOMATIC THICK FILM SCREEN PRINTER, MODEL         $ 3,000.00          $ 4,000.00        $ 6,000.00
                 #MSP885, S/N 712391, P-8

  69    24045    AMI-PRESCO SEMI-AUTOMATIC THICK FILM SCREEN PRINTER, MODEL         $ 3,000.00          $ 4,000.00        $ 6,000.00
                 #MSP885, S/N 712392, P-7

  70    24046    AMI-PRESCO SEMI-AUTOMATIC THICK FILM SCREEN PRINTER, MODEL         $ 3,000.00          $ 4,000.00        $ 6,000.00
                 #MSP885, S/N 705929, P-6

------------------------------------------------------------------------------------------------------------------------------------
                 PAGE TOTAL                                                         $37,700.00          $49,750.00        $75,800.00
------------------------------------------------------------------------------------------------------------------------------------

Page 7

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
MICROCIRCUITS PLANT #6
April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #      ID #                            DESCRIPTION                                 FLV                 FMV             FMIPV
------------------------------------------------------------------------------------------------------------------------------------
PRINTING DEPARTMENT (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
  71    24047    AMI-PRESCO SEMI-AUTOMATIC THICK FILM SCREEN PRINTER, MODEL         $ 3,000.00          $ 4,000.00        $ 6,000.00
                 #MSP885, S/N 721068, P-5

  72    24048    AMI-PRESCO SEMI-AUTOMATIC THICK FILM SCREEN PRINTER, MODEL         $ 3,000.00          $ 4,000.00        $ 6,000.00
                 #MSP885, S/N 721067, P-4

  73    24049    AMI-PRESCO SEMI-AUTOMATIC THICK FILM SCREEN PRINTER, MODEL         $ 3,000.00          $ 4,000.00        $ 6,000.00
                 #MSP885, S/N707450, P-9

  74    24050    AMI-PRESCO SEMI-AUTOMATIC THICK FILM SCREEN PRINTER, MODEL         $ 2,500.00          $ 3,500.00        $ 5,500.00
                 #645, S/N 995124, P-1

  75    24051    AMI-PRESCO SEMI-AUTOMATIC THICK FILM SCREEN PRINTER, MODEL         $ 2,500.00          $ 3,500.00        $ 5,500.00
                 #645, S/N 995125, P-2

  76    24052    AMI-PRESCO SEMI-AUTOMATIC THICK FILM SCREEN PRINTER, MODEL         $ 2,500.00          $ 3,500.00        $ 5,500.00
                 #645, S/N 0760380, P-10

  77    24053    AMI MODEL #C5SF AUTOMATIC STACKER & FEED SYSTEM, S/N 736346        $ 2,500.00          $ 3,500.00        $ 5,500.00


  78    24054    AMI PNEUMATIC, AUTOMATIC UNLOADING & STACKING SYSTEM               $ 2,500.00          $ 4,000.00        $ 7,000.00
                 W/MODEL #M2MF UNLOADER & CONVEYOR, S/N 736343, W/MODEL
                 #C5SR STACKER

  79    24055    AMI PNEUMATIC, AUTOMATIC UNLOADING & STACKING SYSTEM               $ 2,500.00          $ 4,000.00        $ 7,000.00
                 W/MODEL #M2MF UNLOADER & CONVEYOR, S/N 736342, W/MODEL
                 #C5SR STACKER C176

  80    24056    AMI MODEL #C5SF AUTOMATIC, PNEUMATIC STACKER, S/N 736347           $ 1,500.00          $ 2,500.00        $ 4,500.00

------------------------------------------------------------------------------------------------------------------------------------
                 PAGE TOTAL                                                         $25,500.00          $36,500.00        $58,500.00
------------------------------------------------------------------------------------------------------------------------------------

Page 8

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
MICROCIRCUITS PLANT #6
April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #      ID #                            DESCRIPTION                                 FLV                 FMV             FMIPV
------------------------------------------------------------------------------------------------------------------------------------
PRINTING DEPARTMENT (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
  81    24057    AMI MODEL #MTF-C5SF AUTOMATIC, PNEUMATIC STACKER, S/N              $ 2,500.00          $ 3,500.00        $ 7,000.00
                 736333, W/MODEL #MTF-ACL CONVEYOR/FEEDER

  82    24058    BTU ENGINEERING TRANSHEAT MODEL #RD242-4-240S BELT                 $ 4,000.00          $ 6,000.00        $10,000.00
                 CONVEYOR DRYER, S/N ZRI-8, 24" BELT, D-4

  83    24059    W-J BELT CONVEYOR DRYER, MODEL & S/N N/A, 18" BELT, D-3            $ 2,000.00          $ 3,000.00        $ 6,000.00

  84    24060    BTU ENGINEERING TRANSHEAT MODEL #DR252-4-108L BELT                 $ 4,500.00          $ 6,500.00        $11,000.00
                 CONVEYOR DRYER S/N ZRG-7-0489, 24" BELT, D-2

  85    24061    BTU ENGINEERING TRANSHEAT MODEL #DR252-4-108D BELT                 $ 4,500.00          $ 6,500.00        $11,000.00
                 CONVEYOR DRYER S/N ZRG6-0489, 24" BELT, D-1

  86    24062    NIKON MODEL #V-12 PROFILE PROJECTOR, S/N 01325,                    $ 3,800.00          $ 4,500.00        $ 5,500.00
                 W/QUADRA-CHEK 11, DRO

  87             MISCELLANEOUS SUPPORT EQUIPMENT PRINT ROOM INCLUDING:              $ 3,000.00          $ 4,000.00        $ 6,000.00
                 MICROSCOPES, STAINLESS STEEL METRO CARTS, WORK BENCHES,
                 RUBBERMAID CARTS, METAL SHELVING, METTLER DIGITAL SCALES,
                 METAL STORAGE CABINETS, EYE WASH STATIONS, FILE CABINETS,
                 DESK, CHAIRS, PC'S, TYPEWRITER, ETC.

------------------------------------------------------------------------------------------------------------------------------------
SMT/TEST AREA
------------------------------------------------------------------------------------------------------------------------------------
  88    24063    CONCEPTRONIC MODEL DISCOVERY MARK V OVEN, S/M DS9556, 20"          $12,500.00          $14,500.00        $18,000.00
                 CONVEYOR

  89    24064    VISION ENGINEERING MANTIS MICROSCOPE/INSPECTION STATION            $   800.00          $ 1,000.00        $ 1,200.00

------------------------------------------------------------------------------------------------------------------------------------
                 PAGE TOTAL                                                         $37,600.00          $49,500.00        $75,700.00
------------------------------------------------------------------------------------------------------------------------------------

Page 9

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
MICROCIRCUITS PLANT #6
April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #      ID #                            DESCRIPTION                                 FLV                 FMV             FMIPV
------------------------------------------------------------------------------------------------------------------------------------
SMT/TEST AREA (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
   90   24065    UNIVERSAL OMNIPLACE PICK & PLACE MACHINE, MODEL #46521A,           $15,000.00          $20,000.00        $27,500.00
                 S/N 40619409, (1988) W/SPARE FEEDER

   91   24066    AMI/PRESCO MODEL #8115 SEMI-AUTOMATIC SCREEN PRINTER, S/N          $ 3,000.00          $ 4,000.00        $ 6,000.00
                 0690820

   92   24067    EDMUND SCIENTIFIC MICROSCOPE W/SONY CAMERA W/(2) HITACHI           $   650.00          $   800.00        $ 1,000.00
                 COLOR VIDEO MONITORS

   93   24068    DIE TECH MODEL #3002-1 ASSEMBLY MACHINE, S/N ASY (1982)            $ 1,000.00          $ 1,250.00        $ 1,800.00

   94   24069    BLUE-M STABIL THERM OVEN MODEL #POM-563A, S/N JA-3193, 400         $   700.00          $   800.00        $ 1,350.00
                 DEGREES F.

   95   24070    LIQUID CONTROL, LIQUID DISPENSING SYSTEM MODEL #VRM-20,            $ 1,000.00          $ 1,500.00        $ 2,000.00
                 S/M 2864

   96   24071    HOTPACK SUPERMATIC BENCH MODEL OVEN                                $   900.00          $ 1,200.00        $ 1,800.00


   97   24072    GRUENBERG MODEL #T45-H540, WALK-IN OVEN, S/N 6696                  $ 3,000.00          $ 3,600.00        $ 5,000.00


   98   24073    (3) VISION ENGINEERING INSPECTION                                  $ 2,400.00          $ 3,000.00        $ 3,600.00
        24074    MICROSCOPES W/STANDS
        24075

   99   24076    HEWLETT PACKARD MODEL #4192A-LF IMPEDANCE ANALYZER, S/N 859        $   850.00          $ 1,050.00        $ 1,300.00


  100   24077    (2) WAVETEK MODEL #178, 50 MHZ                                     $ 1,200.00          $ 1,500.00        $ 1,800.00
        24078    PROGRAMMABLE WAVEFORM SYNTHESIZERS

  101   24079    PHILLIPS MODEL #PM-5781 PROGRAMMABLE                               $   550.00          $   700.00        $   850.00
                 PULSE GENERATOR, 125 MHZ

------------------------------------------------------------------------------------------------------------------------------------
                 PAGE TOTAL                                                         $30,250.00          $39,400.00        $54,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 10

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
MICROCIRCUITS PLANT #6
APRIL 1, 1998

--------------------------------------------------------------------------------------------------------------------------
ITEM #     ID #                          DESCRIPTION                                FLV            FMV           FMIPV
--------------------------------------------------------------------------------------------------------------------------
SMT/TEST AREA (CONT'D)
--------------------------------------------------------------------------------------------------------------------------
   102              HEWLETT PACKARD MODEL #6050-A SYSTEM DC                     $  600.00      $   750.00     $   900.00
                    ELECTRONIC LOAD

   103    24081     TEKTRONIX MODEL #576 CURVE TRACER, S/N B325732              $  600.00      $   700.00     $   850.00

   104    24081     TEKTRONIX MODEL #7854 OSCILLOSCOPE, S/M B074035             $1,000.00      $ 1,200.00     $ 1,500.00

   105    24082     HEWLETT PACKARD MODEL #4192A-LF                             $  700.00      $   850.00     $ 1,000.00
                    IMPEDANCE ANALYZER

   106    24083     HEWLETT PACKARD MODEL #3325B                                $  600.00      $   800.00     $   950.00
                    SYNTHESIZER/FUNCTION GENERATOR

   107    24084     (2) HEWLETT PACKARD MODEL #1908B                            $1,700.00      $ 2,100.00     $ 2,500.00
          24085     OSCILLOSCOPE MEASUREMENT SYSTEMS

   108    24086     (2) TEKTRONIX MODEL #7603 OSCILLOSCOPES                     $1,300.00      $ 1,600.00     $ 1,900.00
          24088     W/CART

   109    24087     TEST RACK CONSISTING OF: H.P. MODEL #8165A                  $1,000.00      $ 1,500.00     $ 2,000.00
                    PROGRAMMABLE SIGNAL SOURCE, WAVETEK
                    ATTENTUATOR MODEL #613, AC REGULATORS

   110    24089     TEST RACK CONSISTING OF: POWER SUPPLIES,                    $  750.00      $   900.00     $ 1,200.00
                    H.P. MODEL#5334B UNIVERSAL COUNTER,
                    WAVETEK ATTENTUATORS, CHANNEL DRIVER

   111    24090     (2) TELEQUIPMENT MODEL #D61A OSCILLOSCOPES                  $  700.00      $   850.00     $ 1,000.00

--------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                  $8,950.00      $11,250.00     $13,800.00
--------------------------------------------------------------------------------------------------------------------------

Page 11

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
MICROCIRCUITS PLANT #6
APRIL 1, 1998

-------------------------------------------------------------------------------------------------------------------------------
ITEM #     ID #                          DESCRIPTION                                    FLV            FMV            FMIPV
-------------------------------------------------------------------------------------------------------------------------------
SMT/TEST AREA (CONT'D)
-------------------------------------------------------------------------------------------------------------------------------
   112              MISCELLANEOUS SUPPORT EQUIPMENT SMT/TEST AREA:                   $12,000.00     $16,000.00     $24,000.00
                    ELECTRIFIED WORK BENCHES, SWIVEL CHAIRS, UNIVERSAL
                    COUNTERS, DE CURRENT SOURCE, VOLTMETERS, MULTIMETERS,
                    SOLDER STATIONS, AMPLIFIERS, DATA GENERATORS, STEREO
                    MICROSCOPES, PROGRAMMERS, HP COMPUTER SYSTEM, FUNCTION
                    GENERATOR, DC POWER SUPPLY, HP#3325A SYNTHESIZERS, FIBRE
                    LITERS, EFD LIQUID DISPENSING SYSTEMS, SOLDER POT FUME
                    HOOD, SS METRO CARTS, MAGNIFYING LAMPS, ARBOR PRESSES,
                    AIR MITE PRESSES, METAL CARTS, NIKON STEREO MICROSCOPES,
                    THERMOMETER, BAUSCH & LOMB MICROSCOPE, INSPECTION STATIONS
                    W/MAGNIFYING LAMPS & LIQUID DISPENSING SYSTEMS, BENCH
                    MODEL LAB OVENS, FILE CABINETS, STORAGE CABINETS, ETC.

-------------------------------------------------------------------------------------------------------------------------------
REAR LASER AREA
-------------------------------------------------------------------------------------------------------------------------------
   113    24091     TERADYNE MODEL #W-311 YAG LASER W/TERADYNE LASER TRIM            $ 1,500.00     $ 3,000.00     $ 5,000.00
                    STATION, TERADYNE TIME MEASUREMENT SYSTEM, TERADYNE
                    POWER LINE CONTROLLER

   114    24092     TERADYNE MODEL #W-311 YAG LASER W/TERADYNE LASER TRIM            $ 1,500.00     $ 3,000.00     $ 5,000.00
                    STATION, TERADYNE TIME MEASUREMENT SYSTEM, TERADYNE
                    POWER LINE CONTROLLER

   115    24093     PRINTSTAR MODEL #130 LABEL PRINTER                               $   550.00     $   650.00     $   850.00

   116    24094     NIKON MODEL #SMZ10 MICROSCOPE W/CAMERA, LIGHT SOURCE,            $ 1,500.00     $ 1,800.00     $ 2,200.00
                    S/N 73202

   117    24095     NIKON MODEL OPTI PHOTE MICROSCOPE, S/N 83343                     $   800.00     $   950.00     $ 1,100.00

   118    24096     NIKON MODEL #SMZ-10 MICROSCOPE W/FIBER-LITE                      $   850.00     $ 1,000.00     $ 1,200.00

-------------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                       $18,700.00     $26,400.00     $39,350.00
-------------------------------------------------------------------------------------------------------------------------------

Page 12

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
MICROCIRCUITS PLANT #6
APRIL 1, 1998

-------------------------------------------------------------------------------------------------------------------------------
ITEM #     ID #                          DESCRIPTION                                    FLV            FMV            FMIPV
-------------------------------------------------------------------------------------------------------------------------------
REAR LASER AREA (CONT'D)
-------------------------------------------------------------------------------------------------------------------------------
   119    24097     BLUE-M STABIL THERM OVEN MODEL #OV-475A-1,                       $   500.00     $   650.00     $   900.00
                    S/N 340

   120    24098     TENNEY JR. ENVIRONMENTAL CHAMBER, BENCH MODEL                    $   900.00     $ 1,200.00     $ 1,500.00

   121    24099     BLUE-M 3-STAGE THERMAL CYCLING TEST CABINET,                     $ 2,500.00     $ 3,000.00     $ 4,500.00
                    MODEL# WSP-309C-1X, S/N W1-303 (-65) DEGREES C
                    (-200) DEGREES C

   122              MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING:                       $ 4,000.00     $ 5,000.00     $ 7,000.00
                    ELECTRIFIED WORK BENCHES, LCR METER, POWER SUPPLIES,
                    TIMERS, PRINTERS, ZENITH PC'S, FILE CABINETS, STORAGE
                    CABINETS, SS METRO CARTS (2) INTERMEC LABEL LAMP,
                    TEKTRONIX MODEL #465B OSCILLOSCOPE, METAL LOCKERS,
                    SWIVEL CHAIRS

-------------------------------------------------------------------------------------------------------------------------------
SHIPPING & RECEIVING
-------------------------------------------------------------------------------------------------------------------------------
   123              CONSISTING OF (12) SECTIONS OF 8' PALLET RACKING,                $ 3,000.00     $ 3,500.00     $ 5,500.00
                    (2) BT LIFTERS HYDRAULIC PALLET JACKS, TOLEDO PLATFORM
                    SCALE, FILE CABINETS, METAL STORAGE CABINETS, METAL DESKS,
                    PORTABLE METAL STAIRWAY, TAPE SHOOTER, ZENITH PC'S ETC.

-------------------------------------------------------------------------------------------------------------------------------
COMPRESSOR ROOM
-------------------------------------------------------------------------------------------------------------------------------
   124    24100     KAESER MODEL #KRD-600 COMPRESSED AIR DRIER, S/N                  $ 3,000.00     $ 3,500.00     $ 5,000.00
                    0374-3-9604-6K

   125    24101     SULLAIR SULLISCREW ROTARY SCREW AIR COMPRESSOR, MODEL            $ 6,500.00     $ 8,000.00     $11,500.00
                    #16-75H, S/N 41674-KGH, 75 HP

   126    24102     ATLAS COPCO MODEL #GA-509 PACK, AIR COMPRESSOR, S/N              $ 7,000.00     $ 9,000.00     $12,500.00
                    ARP-745258, 50 HP

   127    24103     ATLAS COPCO MODEL #GAV-509-A/C AIR COMPRESSOR, S/N               $ 7,000.00     $ 9,000.00     $12,500.00
                    HOL-745-595, 50 HP

-------------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                       $34,400.00     $42,850.00     $60,900.00
-------------------------------------------------------------------------------------------------------------------------------

Page 13

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
MICROCIRCUITS PLANT #6
APRIL 1, 1998

-------------------------------------------------------------------------------------------------------------------------------
ITEM #     ID #                          DESCRIPTION                                    FLV            FMV            FMIPV
-------------------------------------------------------------------------------------------------------------------------------
COMPRESSOR ROOM (CONT'D)
-------------------------------------------------------------------------------------------------------------------------------
   128    24014     KAESER MODEL #CMS-1060 COMPRESSED AIR DRYER                      $   700.00     $   900.00     $ 1,300.00

-------------------------------------------------------------------------------------------------------------------------------
STORAGE AREA/BONEYARD
-------------------------------------------------------------------------------------------------------------------------------
   129    24105     CLARK ELECTRIC WALK BEHIND FORKLIFT, MODEL                       $   750.00     $   900.00     $ 1,250.00
                    #ST25B, S/N ST245213306FA678, 2500 LB. CAPACITY

   130    24106     HOLLIS WAVE SOLDER MACHINE, S/N & MODEL N/A                      $ 4,000.00     $ 5,000.00     $ 6,000.00

   131    24107     GRIEVE MODEL #AA-500 ELECTRIC OVEN, S/N 330230,                  $ 1,500.00     $ 2,000.00     $ 2,500.00
                    500 DEGREES F CAPACITY

   132              MISCELLANEOUS EQUIPMENT IN STORAGE INCLUDING:                    $15,000.00     $20,000.00     $22,000.00
                    MRL 1R OVEN, BLUE-M OVENS, PICK & PLACE MACHINE,
                    MCT-6603 WIRE BONDER, EUBANKS WIRE STRIPPER, LORANGER
                    OVEN, HIPOTRONICS HIPOT TESTERS, AMI SCREEN CURVE
                    TRACERS, PART OF TERADYNE YAG LASER, EXCELLOR MC-30
                    PICK & PLACE MACHINE, UNIVERSAL SEQUENCERS, VIBRATORY
                    BOWL FEEDERS, FANS, TAPE SHOOTERS METAL DESKS, FILE
                    CABINETS, BOOKSHELVES, ETC.

-------------------------------------------------------------------------------------------------------------------------------
CAGED STORAGE AREA
-------------------------------------------------------------------------------------------------------------------------------
   133              CONSISTING OF:  DOT MATRIX PRINTERS, MONITORS,                   $ 7,500.00     $10,000.00     $11,000.00
                    LIGHT DUTY METAL SHELVING, SHOP VACUUM, SS METRO
                    CARTS, WIRE, CABLE, POWER SUPPLIES, PC'S MULTIMETERS,
                    OHMETERS, AMI/PRESCO SCREEN PRINTER, TEKTRONIX H.P.
                    SYNTHESIZERS, PANASONIC MULTIPLEX STEREO MODULATORS,
                    MILLIVOLT METERS, PHASE METERS, SIGNAL GENERATORS, FANS

   134    24107     CONCEPTIONIC MODEL EXPLORER BENCH TOP VACUUM PICK                $ 1,500.00     $ 2,500.00     $ 4,000.00
                    & PLACE MACHINE, S/N PX8795, W/PANASONIC MONITOR

-------------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                       $30,950.00     $41,300.00     $48,050.00
-------------------------------------------------------------------------------------------------------------------------------

Page 14

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
MICROCIRCUITS PLANT #6
APRIL 1, 1998

--------------------------------------------------------------------------------------------------------------------------------
ITEM #     ID #                          DESCRIPTION                                     FLV            FMV            FMIPV
--------------------------------------------------------------------------------------------------------------------------------
CAGED STORAGE AREA (CONT'D)
--------------------------------------------------------------------------------------------------------------------------------
   135    24108     PHOTONIC INSPECTION SYSTEM W/JAVELIN CAMERA, (2)                 $  1,250.00    $  1,750.00    $  3,000.00
                    PANASONIC MONITORS, FIBER LITE

   136    24109     OMEGA METER IONIC CONTAMINATION TEST SYSTEM MODEL                $  1,500.00    $  2,000.00    $  2,500.00
                    #400, S/N 4109

   137    24110     ELECTROVERT OMEGAWAVE ECONOPACK II WAVE SOLDERING                $  5,500.00    $  7,000.00    $  9,500.00
                    MACHINE, S/N M0860924017/C148

   138    24111     OMEGA METER IONIC CONTAMINATION TEST SYSTEM MODEL                $  2,500.00    $  3,000.00    $  3,500.00
                    #600, S/N 623s

--------------------------------------------------------------------------------------------------------------------------------
OFFICE
--------------------------------------------------------------------------------------------------------------------------------
   139              CONSISTING OF:  LATERAL AND VERTICAL FILE CABINETS,              $ 12,000.00    $ 16,000.00    $ 22,500.00
                    TAN METAL DESKS, SWIVEL CHAIRS, ZENITH TELEVISIONS,
                    BROTHER INTELLIFAX 250, TYPEWRITERS, ZENITH PC'S,
                    HP LASER JET II FAX PRINTERS, SAVIN 7430 COPIER,
                    DOT MATRIX PRINTERS, REFRIGERATOR, HP LASERJET 4P
                    PRINTER, CHATILLON TENSILE TESTER, METAL STORAGE
                    CABINETS, WOODEN CONFERENCE TABLE, PRINTER TABLES,
                    WOOD EXECUTIVE DESK, PRINTER, 12' WOODEN CONFERENCE
                    TELEVISION, METAL BOOKSHELVES, ZENITH TELEVISION & VCR,
                    (2) NIKON MICROSCOPES, MAGNIFYING LAMP, COMPAC, MONITORS,
                    DATA PRODUCTS LZR-1555 LASER PRINTER, GF ALLSTEDE SAFE,
                    (2) DESKJET 660C PRINTERS

   140    24112     HEWLETT PACKARD LASERJET #5SI PRINTER                            $  2,500.00    $  3,000.00    $  3,500.00

--------------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                       $ 25,250.00    $ 32,750.00    $ 44,500.00
--------------------------------------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------------
                    GRAND TOTAL                                                      $477,150.00    $631,000.00    $913,175.00
--------------------------------------------------------------------------------------------------------------------------------

Page 15

EXHIBIT 99AG

ZENITH ELECTRONICS
CORPORATION
FRANKLIN PARK, PLANT # 5

DATE OF INSPECTIONS: MARCH 22 - APRIL 10, 1998

EFFECTIVE DATE OF VALUATION: APRIL 1, 1998

APPRAISERS: WILLIAM J. GARDNER, JR., ASA
MICHAEL J. DIPROSPERO, ASA
SCOTT C. LONKART
JAMES F. GARDNER
LEE ROBINETTE, ASA

GREENWICH INDUSTRIAL SERVICES, LLC.
611 ACCESS ROAD
STRATFORD, CONNECTICUT 06497
(203) 380-9367


TABLE OF CONTENTS

                                                                        PAGES
                                                                        -----
1.   LETTER OF TRANSMITTAL                                                1-4

2.   EQUIPMENT                                                            1-3

3.   PHOTOGRAPHS                                                            4

4.   CERTIFICATION                                                          I

5.   STATEMENT OF LIMITING CONDITIONS                                      II

6.   DEFINITION OF VALUE                                               III-IV

7.   DEFINITION OF CONDITIONS                                               V

8.   STATEMENT REGARDING THE AMERICAN SOCIETY OF APPRAISERS                VI


May 14, 1998

Mr. Richard Lewis
Director, Quality
Zenith Electronics Corp.
1000 Milwaukee Avenue
Glenview, IL 60025-2493

Re: Machinery and Equipment Appraisal
Zenith Electronics Corporation
Franklin Park, IL - Plant # 5

Dear Mr. Lewis:

In accordance with your recent request, Greenwich Industrial Services conducted detailed on-site inspections between March 22 and April 10, 1998 of the machinery belonging to Zenith Electronics Corporation, located at Melrose Park, IL, Glenview, IL, Chicago Warehouse Plant #5, Chicago Plant #6, Reynosa, MX, Chihuahua, MX, Ciudad Juarez, MX, and Matamoros, MX. The appraisal consisted of on-site inspections and subsequent office review, research and analysis. The purpose of the inspections was to determine the Forced Liquidation Value, Fair Market Value and Fair Market In-Place Value for corporate decision making purposes. The effective date of this valuation is April 1, 1998.

Greenwich Industrial Services conducted a walk through inspection in February 1998, of the equipment at each of the facilities listed above. The current appraisal is mutually exclusive and supercedes any and all prior assessments. Based on the detailed nature of the current assignment and additional research conducted on the equipment, the values have been altered in numerous instances.

Zenith Electronics Corporation is an international manufacturer of televisions, cable boxes, remote controls and related products. The company has been a well-known producer of electronic components for many years and has significant name brand recognition.

The Chicago Warehouse (Plant #5) is utilized primarily for a staging and storage location for the Melrose Park facility. The machinery and equipment inspected consisted of material handling, pallet racking, baler, office equipment and miscellaneous plant support equipment. All of the equipment appeared to be well maintained and in good operating condition.


Zenith Electronics Corporation
May 14, 1998

Page 2

The following report is a detailed break out of the equipment located at the above facility. The information contained herein is one segment in the valuation process and should be considered within the context of the overall assignment.

In appraising each of the facilities, Greenwich Industrial Services did not look at the overall business value of the corporation, nor the values of the real property including land, building or site improvements. We did however, consider the following: workflow of the product, capability constraints, safety issues, quality controls, maintenance of the equipment, industry trends, location of the facility, current technology and overall working conditions. Greenwich Industrial Services also considered all forms of obsolescence including, economic, functional and physical deterioration.

As part of our appraisal assignment, Zenith requested that we were to assist the company with a new asset identification system. The scope of that process was to tag individual pieces of equipment with an estimated liquidation value greater than $1,000. It should be noted that we were provided with stickers from the company and that not all of the equipment with values greater than $1,000 were tagged due to the nature of the equipment or the fact that it may have been in operation. The majority of office equipment was not tagged due to the inappropriate mark the stickers would make on the furniture. Upon our final review of each of the plants visited, we did notice that several of the stickers had already been removed. In the future we would suggest a stronger adhesive metal plate identification system be utilized. We also left the remaining rolls of tags with each of the Zenith facilities for identification of future acquisitions.

Since the last Walk-Through Appraisal report was issued, it is important to note that significant changes have taken place at the plants, including equipment being transferred to other locations within Zenith, new equipment acquisitions, new departments being added or implemented and an entire plant (Plant #70) being moved.

It is also important to note that due to the detailed aspect of this appraisal report, new discoveries were uncovered including: operating efficiencies and inefficiencies, useful age/life findings on numerous key pieces of equipment and more detailed information on all forms of obsolescence present. Greenwich Industrial Services has also conducted further market analysis in order to find comparable sales of similar pieces of equipment.

The Forced Liquidation Value reflected, represents the gross amount in U.S. Dollars that, in our opinion, would be realized if the assets were sold in a forced situation at a properly advertised and conducted public sale within a 60-90 day time frame, under present economic trends. Conclusions taken into consideration are physical location, difficulty of removal, physical condition, adaptability, specialization, marketability, overall appearance and psychological appeal of the assets. Further, the ability of the asset group to draw sufficient prospective buyers to insure competitive offers is considered. All assets would be sold on a piecemeal basis "as is/where is" with purchasers responsible for


Zenith Electronics Corporation
May 14, 1998

Page 3

removal of assets at their own risk and expense. Any deletions or additions to the package could change the psychological and/or monetary appeal necessary to obtain the value indicated.

The Fair Market Value reflected represents the most probable amount an asset should bring in a competitive and open market under all conditions requisite to a fair sale with the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus; (a) buyer and seller are typically motivated; (b) both parties are well informed or well advised, and acting in what they consider their own best interest; (c) a reasonable time is allowed for exposure to the open market; (d) payment is made in terms of cash in U.S. Dollars; and (e) the price represents the normal consideration for the asset sold, unaffected by special or creative financing, or sales concessions granted by anyone associated with the sale.

The Fair Market In-Place Value reflected represents the value of the assets in their present location assuming the facility will continue in the manufacture of its present product at a profitable level. The values reflected take into consideration all costs associated with rigging, installation, wiring, plumbing, and dismantling. Greenwich Industrial Services has not taken into consideration the financial condition, goodwill, product lines, or the future markets of Zenith Electronics Corp.

This appraisal was conducted, and the report prepared, in accordance with the attached Appraisal Definitions and Conditions, which are considered an integral part thereof. This appraisal was conducted in accordance with customary appraisal practices and represents the best judgment of the appraiser. The appraisers further state that they have no direct or indirect, present or contemplated future interest in the property appraised and that the fee for services is in no way contingent on the value shown herein.

ZENITH ELECTRONICS CORPORATION

FRANKLIN PARK - PLANT #5
------------------------

         TOTAL FORCED LIQUIDATION VALUE:             $112,150.00
         TOTAL FAIR MARKET VALUE:                    $150,800.00
         TOTAL FAIR MARKET IN-PLACE VALUE:           $191,300.00

We hereby certify that, to the best of our knowledge and belief, the statements of fact contained in this report are true and correct and this report has been prepared in conformity with the Uniform Standards of Professional Appraisal Practice of The Appraisal Foundation and the Principles of Appraisal Practice and Code of Ethics of the American Society of Appraisers.

The appraisers for matters, which are legal in nature, assume no responsibility, nor is any opinion of the title rendered herewith. This appraisal assumes good title. Any liens or


Zenith Electronics Corporation
May 14, 1998

Page 4

encumbrances which may exist have been disregarded, as well as any delinquency in the payment of general taxes or special assessments.

We will retain a copy of this report in our files with the original field notes for a period of seven years. This company considers these reports and notes confidential, and we do not permit access to them by anyone without your authorization.

We enclose herewith our billing for services rendered. We will maintain a work file should you have any further questions.

Very truly yours,

William J. Gardner, Jr. ASA                          Michael J. DiProspero, ASA
President                                            Appraiser



James F. Gardner                                     Scott C. Lonkart
Appraiser                                            Appraiser


GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
ZENITH ELECTRONICS
FRANKLIN PARK
PLANT #5
April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM#          ID#                         DESCRIPTION                                    FLV             FMV            FMIPV
------------------------------------------------------------------------------------------------------------------------------------
WAREHOUSE
------------------------------------------------------------------------------------------------------------------------------------
     1          20219       MAREN MODEL #203 BALING SYSTEM, S/N 981180, 25 HP,           $20,000.00      $25,000.00      $32,000.00
                            W/CONTINOUS SHREDDER, HOPPER, 4' INCLINE BELT CONVEYOR,
                            MANUAL ROLLER CONVEYOR, ASSOCIATED EQUIPMENT

     2          20220       ROCKWELL 16" THROAT, VERTICAL BAND SAW, MODEL #20, PROP      $ 1,250.00      $ 1,600.00      $ 1,900.00
                            #24048

     3          20221       FACTORY CAT 48" RIDE-ON STREET SWEEPER, S/N N/A              $ 1,000.00      $ 1,200.00      $ 1,400.00

     4                      APPROXIMATELY (100) SECTIONS, 16 X 8 X 4' MEDIUM DUTY        $10,000.00      $15,000.00      $20,000.00
                            PALLET RACKING

     5          20222       INFRA PAK ROTARY PALLET WRAPPER, MODEL #EZ-DUZ-IT, SN/       $ 2,000.00      $ 2,500.00      $ 3,000.00
                            882940

     6          20224       CATERPILLAR ELECTRIC FORKLIFT, MODEL #EC15, W/OROP,          $ 3,500.00      $ 4,000.00      $ 4,500.00
                            CUSHION TIRES, 2 STAGE MAST, S/N N/A

     7          20226       CATERPILLAR ELECTRIC FORKLIFT, MODEL #EC15, W/OROP,          $ 3,500.00      $ 4,000.00      $ 4,500.00
                            CUSHION TIRES, 2 STAGE MAST, S/N N/A, #I-0215

     8          20227       CATERPILLAR ELECTRIC FORKLIFT, MODEL #EC15, W/OROP,          $ 3,500.00      $ 4,000.00      $ 4,500.00
                            CUSHION TIRES, 2 STAGE MAST, S/N N/A, #I-0207

     9          20228       CATERPILLAR ELECTRIC FORKLIFT, MODEL #EC15, W/OROP,          $ 3,500.00      $ 4,000.00      $ 4,500.00
                            CUSHION TIRES, 2 STAGE MAST, S/N N/A, #I-0217

    10          20229       CATERPILLAR ELECTRIC FORKLIFT, MODEL #EC15, W/OROP,          $ 3,500.00      $ 4,000.00      $ 4,500.00
                            CUSHION TIRES, 2 STAGE MAST, S/N N/A, #I-0210

------------------------------------------------------------------------------------------------------------------------------------
                            PAGE TOTAL                                                   $51,750.00      $65,300.00      $80,800.00
------------------------------------------------------------------------------------------------------------------------------------

Page 1

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
ZENITH ELECTRONICS
FRANKLIN PARK
PLANT #5
April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM#             ID#                      DESCRIPTION                                    FLV             FMV            FMIPV
------------------------------------------------------------------------------------------------------------------------------------
WAREHOUSE (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------

     11            20230        CATERPILLAR ELECTRIC FORKLIFT, MODEL #EC15, W/OROP,      $ 3,500.00      $ 4,000.00      $ 4,500.00
                                CUSHION TIRES, 2 STAGE MAST, S/N N/A, #I-0212

     12            20231        CATERPILLAR ELECTRIC FORKLIFT, MODEL #EC15, W/OROP,      $ 3,500.00      $ 4,000.00      $ 4,500.00
                                CUSHION TIRES, 2 STAGE MAST, S/N N/A, #I-0208

     13            20232        CATERPILLAR ELECTRIC FORKLIFT, MODEL #EC15, W/OROP,      $ 3,500.00      $ 4,000.00      $ 4,500.00
                                CUSHION TIRES, 2 STAGE MAST, S/N N/A, #I-0206

     14            20233        CATERPILLAR ELECTRIC FORKLIFT, MODEL #EC15, W/OROP,      $ 3,500.00      $ 4,000.00      $ 4,500.00
                                CUSHION TIRES, 2 STAGE MAST, S/N N/A, #I-0213

     15            20234        CATERPILLAR ELECTRIC FORKLIFT, MODEL #EC15, W/OROP,      $ 3,500.00      $ 4,000.00      $ 4,500.00
                                CUSHION TIRES, 2 STAGE MAST, S/N N/A, #I-0211

     16            20235        CATERPILLAR ELECTRIC FORKLIFT, MODEL #EC15, W/OROP,      $ 3,500.00      $ 4,000.00      $ 4,500.00
                                CUSHION TIRES, 2 STAGE MAST, S/N N/A, #I-0216

     17            20237        CATERPILLAR ELECTRIC FORKLIFT, MODEL #EC15, W/OROP,      $ 3,500.00      $ 4,000.00      $ 4,500.00
                                CUSHION TIRES, 2 STAGE MAST, S/N N/A, #I-0214

     18            20223        TENNENT RIDE-ON STREET SWEEPER, MODEL #86-E, S/N N/A     $ 2,000.00      $ 2,500.00      $ 3,000.00

------------------------------------------------------------------------------------------------------------------------------------
                                PAGE TOTAL                                               $26,500.00      $30,500.00      $34,500.00
------------------------------------------------------------------------------------------------------------------------------------

Page 2

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
ZENITH ELECTRONICS
FRANKLIN PARK
PLANT #5
April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM#          ID#                         DESCRIPTION                                    FLV             FMV            FMIPV
------------------------------------------------------------------------------------------------------------------------------------
WAREHOUSE (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
     19                   MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT LIMITED     $ 15,000.00     $ 23,000.00     $ 30,000.00
                          TO:  (3) HORIZONTAL TANK AIR COMPRESSORS, HAND TRUCKS,
                          PEDESTAL FAN, BRIDGE CRANE, GOLF CART, (15) BATTERY
                          CHARGERS, WORK BASKETS, PORTABLE STRAPPERS, THREADER,
                          LOCKERS, CARTS, DE GRINDER, DOCK LIGHTS, LINCOLN WELDER,
                          CARRIERS 2" PUMP, TIME CLOCKS, BUTCHER BLOCK WORK TABLE,
                          OFFICE FURNITURE, FIXTURES AND EQUIPMENT, INDEX FILES, DESKS,
                          CHAIRS, PERSONAL COMPUTERS, TYPEWRITERS, PRINTERS, FAX
                          MACHINE

     20         20236     MERIDIAN SL7 TELEPHONE SYSTEM W/CONTROL CONSOLE, ASSORTED     $  1,500.00     $  3,000.00     $  5,000.00
                          HAND SETS, CABINET, ASSOCIATED EQUIPMENT

     21         20225     CATERPILLAR FORKLIFT TRUCK, MODEL #M-50B, S/N 861,            $  5,000.00     $  6,000.00     $  8,000.00
                          W/OROP,, TRIPLE MAST, SOLID TIRES

     22                   (6) STATIONARY RAILROAD BOX CARS W/ASSOCIATED EQUIPMENT,      $  2,400.00     $  5,000.00     $  8,000.00
                          (POOR CONDITION)

     23                   MISCELLANEOUS EQUIPMENT IN STORAGE INCLUDING BUT NOT          $ 10,000.00     $ 18,000.00     $ 25,000.00
                          LIMITED TO:  SELF DUMPING HOPPERS, SPARE BELTS, CARRIER
                          CHILLER, POWER SUPPLIES, FIXTURES, CONVEYOR, POWER TURNS,
                          BLOWERS, ASSEMBLY FIXTURES, CONTROL CONSOLES

------------------------------------------------------------------------------------------------------------------------------------
                          PAGE TOTAL                                                    $ 33,900.00     $ 55,000.00     $ 76,000.00
------------------------------------------------------------------------------------------------------------------------------------


------------------------------------------------------------------------------------------------------------------------------------
                          GRAND TOTAL                                                   $112,150.00     $150,800.00     $191,300.00
------------------------------------------------------------------------------------------------------------------------------------

Page 3

EXHIBIT 99AH

ZENITH ELECTRONICS
CORPORATION
CIUDAD JUAREZ, MEXICO

DATE OF INSPECTIONS: MARCH 22 - APRIL 10, 1998

EFFECTIVE DATE OF VALUATION: APRIL 1, 1998

APPRAISERS: WILLIAM J. GARDNER, JR., ASA
MICHAEL J. DIPROSPERO, ASA
SCOTT C. LONKART
JAMES F. GARDNER
LEE ROBINETTE, ASA

GREENWICH INDUSTRIAL SERVICES, LLC.
611 ACCESS ROAD
STRATFORD, CONNECTICUT 06497
(203) 380-9367


TABLE OF CONTENTS

                                                                         PAGES
                                                                         -----
1.   LETTER OF TRANSMITTAL                                                 1-5

2.   EQUIPMENT                                                            1-92

3.   PHOTOGRAPHS                                                         93-95

4.   CERTIFICATION                                                           I

5.   STATEMENT OF LIMITING CONDITIONS                                       II

6.   DEFINITION OF VALUE                                                III-IV

7.   DEFINITION OF CONDITIONS                                                V

8.   STATEMENT REGARDING THE AMERICAN SOCIETY OF APPRAISERS                 VI


May 14, 1998

Mr. Richard Lewis
Director, Quality
Zenith Electronics Corp.
1000 Milwaukee Avenue
Glenview, IL 60025-2493

Re: Machinery and Equipment Appraisal
Zenith Electronics Corporation
Ciudad Juarez, MX

Dear Mr. Lewis:

In accordance with your recent request, Greenwich Industrial Services conducted detailed on-site inspections between March 22 and April 10, 1998 of the machinery belonging to Zenith Electronics Corporation, located at Melrose Park, IL, Glenview, IL, Chicago Warehouse Plant #5, Chicago Plant #6, Reynosa, MX, Chihuahua, MX, Ciudad Juarez, MX, and Matamoros, MX. The appraisal consisted of on-site inspections and subsequent office review, research and analysis. The purpose of the inspections was to determine the Forced Liquidation Value, Fair Market Value and Fair Market In-Place Value for corporate decision making purposes. The effective date of this valuation is April 1, 1998.

Greenwich Industrial Services conducted a walk through inspection in February 1998, of the equipment at each of the facilities listed above. The current appraisal is mutually exclusive and supercedes any and all prior assessments. Based on the detailed nature of the current assignment and additional research conducted on the equipment, the values have been altered in numerous instances.

Zenith Electronics Corporation is an international manufacturer of televisions, cable boxes, remote controls and related products. The company has been a well-known producer of electronic components for many years and has significant name brand recognition.

Ciudad Juarez, Mexico facility includes two separate operations within the same building including Plant #'s 43 & 72. The modern facility encompasses over 900,000 square feet and appeared to be clean and well organized, with a considerable amount of open space available.


Zenith Electronics Corp.
May 14, 1998

Page 2

The main production area, Plant #43, consisted of assembly lines for large screen televisions, a state of the art woodworking shop, lamination and panel lines, a plastic injection molding department and miscellaneous support equipment. The equipment appeared to be well maintained with a natural and desirable workflow implemented. The condition and diverse composition of equipment at this location had a positive impact on the values. There is a considerable loading/docking area to facilitate a smooth equipment removal process.

The operation is also home to Plant # 72, which is located at the rear of the building and is totally segregated from the other plant. Plant # 72 is a self-sufficient production area for rear projection tubes complete with a wastewater treatment system, office area and maintenance shop. The equipment inspected consisted of a vacuum exhaust line, LEHR tunnel oven, screening line, test equipment and miscellaneous support equipment. The equipment is state of the art technology and appeared to be well maintained and in good operating condition.

The following report is a detailed break out of the equipment located at the above facility. The information contained herein is one segment in the valuation process and should be considered within the context of the overall assignment.

In appraising each of the facilities, Greenwich Industrial Services did not look at the overall business value of the corporation, nor the values of the real estate including land, building or site improvements. We did however, consider the following: workflow of the product, capability constraints, safety issues, quality controls, maintenance of the equipment, industry trends, location of the facility, current technology and overall working conditions and environment. Greenwich Industrial Services also considered all forms of obsolescence including, economic, functional and physical deterioration.

As part of our appraisal assignment, Zenith requested that we were to assist the company with a new asset identification system. The scope of that process was to tag individual pieces of equipment with an estimated liquidation value greater than $1,000. It should be noted that we were provided with stickers from the company and that not all of the equipment with values greater than $1,000 were tagged due to the nature of the equipment or the fact that it may have been in operation. The majority of office equipment was not tagged due to the inappropriate mark the stickers would make on the furniture. Upon our final review of each of the plants visited, we did notice that several of the stickers had already been removed. In the future we would suggest a stronger adhesive metal plate identification be utilized. We also left the remaining rolls of tags with each of the Zenith facilities for identification of future acquisitions.

Since the last Walk-Through Appraisal report was published, it is important to note that a significant amount of changes have taken place including equipment being transferred to other locations within Zenith, new equipment acquisitions, new departments being added or implemented and an entire plant (Plant #70) being moved.


Zenith Electronics Corp.
May 14, 1998

Page 3

It is also important to note that due to the detailed aspect of this appraisal report, new discoveries were uncovered including: operating efficiencies and inefficiencies, useful age/life findings on numerous key pieces of equipment and more detailed information on all forms of obsolescence present. Greenwich Industrial Services has also conducted further market analysis in order to find comparable sales of similar pieces of equipment.

The Forced Liquidation Value reflected, represents the gross amount in U.S. Dollars that, in our opinion, would be realized if the assets were sold in a forced situation at a properly advertised and conducted public sale within a 60-90 day time frame, under present economic trends. Conclusions taken into consideration are physical location, difficulty of removal, physical condition, adaptability, specialization, marketability, overall appearance and psychological appeal of the assets. Further, the ability of the asset group to draw sufficient prospective buyers to insure competitive offers is considered. All assets would be sold on a piecemeal basis "as is/where is" with purchasers responsible for removal of assets at their own risk and expense. Any deletions or additions to the package could change the psychological and/or monetary appeal necessary to obtain the value indicated.

The Fair Market Value reflected represents the most probable amount an asset should bring in a competitive and open market under all conditions requisite to a fair sale with the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus; (a) buyer and seller are typically motivated; (b) both parties are well informed or well advised, and acting in what they consider their own best interest; (c) a reasonable time is allowed for exposure to the open market; (d) payment is made in terms of cash in U.S. Dollars; and (e) the price represents the normal consideration for the asset sold, unaffected by special or creative financing, or sales concessions granted by anyone associated with the sale.

The Fair Market In-Place Value reflected represents the value of the assets in their present location assuming the facility will continue in the manufacture of its present product at a profitable level. The values reflected take into consideration all costs associated with rigging, installation, wiring, plumbing, and dismantling. Greenwich Industrial Services has not taken into consideration the financial condition, goodwill, product lines, or the future markets of Zenith Electronics Corp.

This appraisal was conducted, and the report prepared, in accordance with the attached Appraisal Definitions and Conditions, which are considered an integral part thereof. This appraisal was conducted in accordance with customary appraisal practices and represents the best judgment of the appraiser. The appraisers further state that they have no direct or indirect, present or contemplated future interest in the property appraised and that the fee for services is in no way contingent on the value shown herein.


Zenith Electronics Corp.
May 14, 1998

Page 4

We hereby certify that, to the best of our knowledge and belief, the statements of fact contained in this report are true and correct and this report has been prepared in conformity with the Uniform Standards of Professional Appraisal Practice of The Appraisal Foundation and the Principles of Appraisal Practice and Code of Ethics of the American Society of Appraisers.

ZENITH ELECTRONICS CORPORATION

                             CIUDAD JUAREZ, MEXICO
                             ---------------------

PLANT # 43
----------

         TOTAL FORCED LIQUIDATION VALUE:             $6,516,150.00
         TOTAL FAIR MARKET VALUE:                    $8,326,050.00
         TOTAL FAIR MARKET IN-PLACE VALUE:           $10,323,900.00

PLANT # 72
----------

         TOTAL FORCED LIQUIDATION VALUE:             $904,350.00
         TOTAL FAIR MARKET VALUE:                    $1,255,400.00
         TOTAL FAIR MARKET IN-PLACE VALUE:           $1,796,700.00

GRAND TOTAL
-----------

         TOTAL FORCED LIQUIDATION VALUE:             $7,420,500.00
         TOTAL FAIR MARKET VALUE:                    $9,581,450.00
         TOTAL FAIR MARKET IN-PLACE VALUE:           $12,120,600.00

No responsibility is assumed by the appraiser for matters which are legal in nature nor is any opinion of the title rendered herewith. This appraisal assumes good title. Any liens or encumbrances which may exist have been disregarded, as well as any delinquency in the payment of general taxes or special assessments.

We will retain a copy of this report in our files with the original field notes for a period of seven years. This company considers these reports and notes confidential, and we do not permit access to them by anyone without your authorization.


Zenith Electronics Corp.
May 14, 1998

Page 5

We enclose herewith our billing for services rendered. We will maintain a work file should you have any further questions.

Very truly yours,

William J. Gardner, Jr. ASA                          Michael J. DiProspero, ASA
President                                            Appraiser



James F. Gardner                                     Scott C. Lonkart
Appraiser                                            Appraiser


GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #       ID#                          DESCRIPTION                                 FLV                FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
MILL ROOM
------------------------------------------------------------------------------------------------------------------------------------
     1       15000     UNIT #RA-3 EKSTROM CARLSON & CO, MODEL #444, CNC 2 HEAD       $ 65,000.00        $ 75,000.00    $ 90,000.00
                       ROUTER COMPLETE W/ ALLEN BRADLEY 9 SERIES CONTROL
                       CONSOLE, BELT CONVEYOR, SCRAP CARRIER, ASSOCIATED
                       EQUIPMENT, S/N N/A

     2        15001    UNIT #RA-1 EKSTROM CARLSON & CO, MODEL #333,  CNC 2           $ 55,000.00        $ 65,000.00    $ 80,000.00
                       HEAD ROUTER COMPLETE W/ ALLEN BRADLEY 9 SERIES CONTROL
                       CONSOLE, BELT CONVEYOR, SCRAP CARRIER, ASSOCIATED
                       EQUIPMENT, S/N N/A

     3        15002    UNIT #RA-2 EKSTROM CARLSON & CO, MODEL #333,  CNC 2           $ 40,000.00        $ 50,000.00    $ 60,000.00
                       HEAD ROUTER COMPLETE W/ ALLEN BRADLEY 9 SERIES CONTROL
                       CONSOLE, BELT CONVEYOR, SCRAP CARRIER, ASSOCIATED
                       EQUIPMENT, S/N N/A, (CONTROLS MISSING / NOT IN SERVICE)

     4        15003    UNIT #RA-4 EKSTROM CARLSON & CO, MODEL #333,  CNC 2           $ 55,000.00        $ 65,000.00    $ 80,000.00
                       HEAD ROUTER COMPLETE W/ ALLEN BRADLEY 9 SERIES CONTROL
                       CONSOLE, BELT CONVEYOR, SCRAP CARRIER, ASSOCIATED
                       EQUIPMENT, S/N N/A

     5        15004    UNIT #DSC-1 ROUVO CUSTOM DESIGNED SCREW CLEAT DRILL           $  1,000.00        $  1,250.00    $  1,500.00
                       COMPLETE W/ ENCLOSURE, CONTROL CONSOLE, ADJUSTABLE
                       SPINDLES, ASSOCIATED EQUIPMENT
------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                    $216,000.00        $256,250.00    $311,500.00
------------------------------------------------------------------------------------------------------------------------------------

Page 1

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #       ID#                          DESCRIPTION                                 FLV                FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
MILL ROOM (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
     6        15005     UNIT #DHA-2 B.M. ROOT COMPANY ADJUSTABLE HORIZONTAL          $ 2,500.00         $ 3,250.00      $ 4,000.00
                        DRILL MACHINE, MODEL #D-360, S/N 8375, W / HYDRAULIC
                        UNIT, ADJUSTABLE SPINDLES, ASSOCIATED EQUIPMENT

     7        15006     UNIT #DH-1 B.M. ROOT COMPANY ADJUSTABLE HORIZONTAL           $ 2,500.00         $ 3,250.00      $ 4,000.00
                        DRILL MACHINE, MODEL #D-360, S/N 8260, W/ HYDRAULIC
                        UNIT, ADJUSTABLE SPINDLES, ASSOCIATED EQUIPMENT

     8        15007     UNIT #DM-7 MUELLER MODEL #CXH PEDESTAL STYLE HD              $ 5,500.00         $ 7,000.00      $ 8,500.00
                        MULTIPLE SPINDLE, VERTICAL DRILL COMPLETE W/ HYDRAULIC
                        UNIT, 20 POSSIBLE ADJUSTABLE SPINDLES, FOOT ACTUATED,
                        ASSOCIATED EQUIPMENT, PROP #3386, S/N 7432

     9        15008     UNIT #DM-6 MUELLER MODEL #CXH PEDESTAL STYLE HD              $ 5,500.00         $ 7,000.00      $ 8,500.00
                        MULTIPLE SPINDLE, VERTICAL DRILL COMPLETE W / HYDRAULIC
                        UNIT, 20 POSSIBLE ADJUSTABLE SPINDLES, FOOT ACTUATED,
                        ASSOCIATED EQUIPMENT, S/N 7590

    10        15012     UNIT #DM-3 MUELLER MODEL #CXH PEDESTAL STYLE HD              $ 5,500.00         $ 7,000.00      $ 8,500.00
                        MULTIPLE SPINDLE, VERTICAL DRILL COMPLETE W / HYDRAULIC
                        UNIT, 20 POSSIBLE SPINDLES, ADJUSTABLE SPINDLES, FOOT
                        ACTUATED, ASSOCIATED EQUIPMENT, S/N 7367
------------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                   $21,500.00         $27,500.00      $33,500.00
------------------------------------------------------------------------------------------------------------------------------------

Page 2

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #       ID#                          DESCRIPTION                                 FLV                 FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
MILL ROOM (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    11        15013    UNIT #DM-4 MUELLER MODEL #CXH PEDESTAL STYLE HD                 $ 5,500.00        $ 7,000.00     $ 8,500.00
                       MULTIPLE SPINDLE, VERTICAL DRILL COMPLETE W / HYDRAULIC
                       UNIT, 20 POSSIBLE  ADJUSTABLE SPINDLES, FOOT ACTUATED,
                       ASSOCIATED EQUIPMENT, S/N N/A

    12        15009    UNIT #DM-5 CEMCO MULTIPLE SPINDLE, C32 VERTICAL DRILL,          $12,000.00        $15,000.00     $17,000.00
                       GAP FRAME, COMPLETE W / CONTROL UNIT, BALDOR MOTORS, 20
                       SPINDLES, PNEUMATICS, ASSOCIATED EQUIPMENT, S/N N/A

    13        15010    UNIT #DM-8 CEMCO MULTIPLE SPINDLE, C32 VERTICAL DRILL,          $12,000.00        $15,000.00     $17,000.00
                       GAP FRAME, COMPLETE W / CONTROL UNIT, BALDOR MOTORS, 20
                       SPINDLES, PNEUMATICS, ASSOCIATED EQUIPMENT, S/N SVB-1071

    14        15011    UNIT #DM-9 CEMCO MULTIPLE SPINDLE, C32 VERTICAL DRILL,          $11,000.00        $14,000.00     $16,000.00
                       GAP FRAME, COMPLETE W / CONTROL UNIT, BALDOR MOTORS, 8
                       SPINDLES, PNEUMATICS, ASSOCIATED EQUIPMENT, S/N N/A

    15        15014    UNIT #DM-2 CEMCO MULTIPLE SPINDLE, C32 VERTICAL DRILL,          $12,000.00        $15,000.00     $17,000.00
                       GAP FRAME, COMPLETE W / CONTROL UNIT, BALDOR MOTORS, 8
                       SPINDLES, PNEUMATICS, ASSOCIATED EQUIPMENT, S/N N/A W /
                       BLOWER, EXIT ROLLER, CONVEYOR
------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                      $52,500.00        $66,000.00     $75,500.00
------------------------------------------------------------------------------------------------------------------------------------

Page 3

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #       ID#                          DESCRIPTION                                 FLV                FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
MILL ROOM (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    16        15015    UNIT #DM-1 CEMCO MULTIPLE SPINDLE, C32 VERTICAL DRILL,         $12,000.00         $15,000.00     $17,000.00
                       GAP FRAME, COMPLETE W / CONTROL UNIT, BALDOR MOTORS, 8
                       SPINDLES, PNEUMATICS, ASSOCIATED EQUIPMENT, S/N N/A W /
                       BLOWER, EXIT ROLLER, CONVEYOR

    17        15016    UNIT #SB-2 MEBER VERTICAL BAND SAW,  MODEL #SR-900 W /         $10,000.00         $12,000.00     $14,000.00
                       34" THROAT, ASSOCIATED EQUIPMENT, S/N 28687, (1996)

    18        15017    UNIT #SB-3 TANNEWITZ VERTICAL BAND SAW, MODEL #GH,  36"        $ 3,000.00         $ 3,500.00     $ 4,250.00
                       THROAT W / ASSOCIATED EQUIPMENT, S/N 74124

    19        15018    UNIT #SB-4 TANNEWITZ VERTICAL BAND SAW, MODEL #GH,  36"        $ 3,000.00         $ 3,500.00     $ 4,250.00
                       THROAT W / ASSOCIATED EQUIPMENT, S/N 74126

    20        15019    UNIT #SB-5 TANNEWITZ VERTICAL BAND SAW, MODEL #GH,  36"        $ 3,000.00         $ 3,500.00     $ 4,250.00
                       THROAT W / ASSOCIATED EQUIPMENT, S/N 84072

    21        15020    UNIT #SB-1 TANNEWITZ VERTICAL BAND SAW, MODEL #GH,  36"        $ 3,000.00         $ 3,500.00     $ 4,250.00
                       THROAT W / ASSOCIATED EQUIPMENT, S/N13869, PROP #3326

    22        15021    UNIT #RT-2 ONSRUD PIN ROUTER, MODEL  #W-1136,  W / GAP         $ 7,500.00         $ 9,000.00     $11,000.00
                       FRAME, ASSOCIATED EQUIPMENT, S/N 10956

    23        15023    UNIT #RT-4 ONSRUD PIN ROUTER, MODEL #W-1136,  W / GAP          $ 7,500.00         $ 9,000.00     $11,000.00
                       FRAME, ASSOCIATED EQUIPMENT, S/N 10938
------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                     $49,000.00         $59,000.00     $70,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 4

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #       ID#                          DESCRIPTION                                FLV                FMV              FMVIP
------------------------------------------------------------------------------------------------------------------------------------
MILL ROOM (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    24        15024      UNIT #RT-5 ONSRUD PIN ROUTER, MODEL #W-1136,  W / GAP       $ 7,500.00         $ 9,000.00       $11,000.00
                         FRAME, ASSOCIATED EQUIPMENT, S/N 10957

    25        15022      UNIT #RT-3 ONSRUD PIN ROUTER, MODEL # N/A,  W / GAP         $ 6,000.00         $ 7,000.00       $ 8,000.00
                         FRAME, ASSOCIATED EQUIPMENT, S/N N/A

    26        15041      UNIT #RT-1 ONSRUD PIN ROUTER, MODEL # W-1136,  W / GAP      $ 7,500.00         $ 9,000.00       $11,000.00
                         FRAME, ASSOCIATED EQUIPMENT, S/N 10940

    27        15025      (5) SLAUTERBACK HOT PACK GLUE DISPENSING GUNS, MODEL        $ 2,500.00         $ 3,000.00       $ 3,500.00
                         #H-7, W/ ASSOCIATED EQUIPMENT

    28        15026      UNIT #SV-1 TANNEWITZ 12" TABLE SAW (VARIETY) MODEL #U,      $ 1,600.00         $ 2,000.00       $ 2,400.00
                         W/ TILTING ARBOR, ASSOCIATED EQUIPMENT, S/N 12680, PROP
                         #3264

    29        15027      UNIT #MG-1 HEESEMANN GERMAN MOLD SHAPER, HORIZONTAL         $ 3,500.00         $ 4,000.00       $ 4,500.00
                         BELT SANDER, MODEL #FK-2, W/ CONTROL CONSOLE,
                         ASSOCIATED EQUIPMENT, S/N N/A

    30        15028      UNIT #MA-1 CUSTOM BUILT AUTOMATIC GERMAN MOLD SANDER,       $ 5,000.00         $ 6,000.00       $ 7,000.00
                         COMPLETE W/ EXIT BELT CONVEYOR, ASSOCIATED EQUIPMENT,
                         PROP #3347

    31        15029      UNIT #SVA-1 TANNEWITZ 10" TABLE SAW, MODEL #XJ, W/ 5 HP     $ 1,200.00         $ 1,500.00       $ 1,750.00
                         MOTOR, TILTING ARBOR, 4 ROLL STOCK FEEDER, ASSOCIATED
                         EQUIPMENT, S/N 74146
------------------------------------------------------------------------------------------------------------------------------------
                         PAGE TOTAL                                                  $34,800.00         $41,500.00       $49,150.00
------------------------------------------------------------------------------------------------------------------------------------

Page 5

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
ITEM#     ID#                           DESCRIPTION                                  FLV            FMV            FMVIP
---------------------------------------------------------------------------------------------------------------------------------
MILL ROOM (CONT'D)
---------------------------------------------------------------------------------------------------------------------------------
    32        15030      UNIT #SVA-2 TANNEWITZ 10" TABLE SAW, MODEL #US, S/N         $ 1,500.00     $ 1,850.00     $ 2,100.00
                         15193, W/ 3 ROLL STACK FEEDER

    33        15031      UNIT #SVA-3 TANNEWITZ 10" TABLE SAW, MODEL #XJ, S/N         $ 1,200.00     $ 1,500.00     $ 1,750.00
                         N/A, W/ 4 ROLL STOCK FEEDER

    34        15032      UNIT #SVA-4 TANNEWITZ 10" TABLE SAW, MODEL #XJ, S/N         $ 1,200.00     $ 1,500.00     $ 1,750.00
                         74075 W/ 4 ROLL STOCK FEEDER

    35        15033      UNIT #PE-2 OAKLEY 8" HORIZONTAL EDGE BELT SANDER, MODEL     $ 2,000.00     $ 2,500.00     $ 3,000.00
                         #H-5, S/N 3129, W/ ASSOCIATED EQUIPMENT

    36        15034      UNIT #PE-1 OAKLEY 8" HORIZONTAL EDGE BELT SANDER, MODEL     $ 2,000.00     $ 2,500.00     $ 3,000.00
                         #H-5, S/N 2965, W/ ASSOCIATED EQUIPMENT

    37        15035      UNIT #SHN-1 THE PORTER HAND SHAPER, MODEL #211, COMPLETE    $ 1,750.00     $ 2,200.00     $ 2,600.00
                         W/ E-TRAC AC INVERTER, ASSOCIATED EQUIPMENT, S/N N/A

    38        15036      UNIT #SHN-2 WHITNEY HAND SHAPER, MODEL #139, COMPLETE       $ 1,900.00     $ 2,400.00     $ 2,800.00
                         W/ E-TRAC AC INVERTER, ASSOCIATED EQUIPMENT, S/N 16000

    39        15037      UNIT #SHA-2 RYE AUTOMATIC 2 SPINDLE SHAPER, MODEL           $10,000.00     $13,000.00     $16,000.00
                         #R90E-CSM-MS, S/N 148, COMPLETE W/ CONTROL CONSOLE,
                         DUST COLLECTOR, 70" FACE PLATE, ELECTRICAL TIME DELAY
                         UNIT, ASSOCIATED EQUIPMENT
---------------------------------------------------------------------------------------------------------------------------------
                         PAGE TOTAL                                                  $21,550.00     $27,450.00     $33,000.00
---------------------------------------------------------------------------------------------------------------------------------

Page 6

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
ITEM#     ID#                           DESCRIPTION                                  FLV            FMV            FMVIP
---------------------------------------------------------------------------------------------------------------------------------
MILL ROOM (CONT'D)
---------------------------------------------------------------------------------------------------------------------------------
    40        15038      UNIT #SHA-3 RYE AUTOMATIC 2 SPINDLE SHAPER, MODEL           $12,000.00     $15,000.00     $18,500.00
                         #R80E-CSM-MS, S/N 192-87, COMPLETE W/ CONTROL CONSOLE,
                         DUST COLLECTOR, 70" FACE PLATE, ELECTRICAL TIME DELAY
                         UNIT, ASSOCIATED EQUIPMENT

    41        15039      UNIT #SHA-4 RYE AUTOMATIC 2 SPINDLE SHAPER, MODEL           $10,000.00     $13,000.00     $16,000.00
                         #R90E-CSM-MS, S/N 16586, COMPLETE W/ CONTROL CONSOLE,
                         DUST COLLECTOR, 70" FACE PLATE, ELECTRICAL TIME DELAY
                         UNIT, ASSOCIATED EQUIPMENT

    42        15040      UNIT #SHA-1 RYE AUTOMATIC 2 SPINDLE SHAPER, MODEL           $13,500.00     $17,500.00     $21,000.00
                         #R80L-CSM-MS, S/N 242-20-89, COMPLETE W/ CONTROL
                         CONSOLE, DUST COLLECTOR, 70" FACE PLATE, ELECTRICAL
                         TIME DELAY UNIT, ASSOCIATED EQUIPMENT

    43        15042      UNIT #EFC-4 CUSTOM DESIGNED EDGE FOILER CONTOUR             $ 5,000.00     $ 7,000.00     $ 9,000.00
                         LAMINATING MACHINE, MODEL N/A, COMPLETE W/ A-C VS
                         RELIANCE DRIVE CONTROL, FEEDER, DIGITAL COUNTER,
                         ASSOCIATED EQUIPMENT, S/N N/A

    44        15043      UNIT #EFC-2 CUSTOM DESIGNED EDGE FOILER CONTOUR             $ 5,000.00     $ 7,000.00     $ 9,000.00
                         LAMINATING MACHINE, MODEL N/A, COMPLETE W/ A-C VS
                         RELIANCE DRIVE CONTROL, FEEDER, DIGITAL COUNTER,
                         ASSOCIATED EQUIPMENT, S/N N/A
---------------------------------------------------------------------------------------------------------------------------------
                         PAGE TOTAL                                                  $45,500.00     $59,500.00     $73,500.00
---------------------------------------------------------------------------------------------------------------------------------

Page 7

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
ITEM#     ID#                           DESCRIPTION                                  FLV            FMV            FMVIP
---------------------------------------------------------------------------------------------------------------------------------
MILL ROOM (CONT'D)
---------------------------------------------------------------------------------------------------------------------------------
    45        15044      UNIT #EFC-1 CUSTOM DESIGNED EDGE FOILER CONTOUR             $ 5,000.00     $ 7,000.00     $  9,000.00
                         LAMINATING MACHINE, MODEL N/A, COMPLETE  W/A-C VS
                         RELIANCE DRIVE CONTROL, FEEDER, DIGITAL COUNTER,
                         ASSOCIATED EQUIPMENT, S/N N/A

    46        15045      UNIT #SR-1 ABAL RADIAL ARM SAW W/ TABLE, FOOT CONTROL,      $ 1,000.00     $ 1,300.00     $  1,600.00
                         ASSOCIATED EQUIPMENT, S/N N/A

    47        15046      UNIT #FS-1 FLETCHER 64" SLITTER REWINDER, MODEL #FM-84,     $25,000.00     $30,000.00     $ 35,000.00
                         COMPLETE W/ ALLEN BRADLEY 1305 MOTOR SPEED CONTROLS,
                         ASSOCIATED EQUIPMENT, S/N 9584-2

    48        15047      UNIT #RV-1 38" HOT ROLL CUSTOM LAMINATING MACHINE           $10,000.00     $15,000.00     $ 20,000.00
                         COMPLETE W/ RELIANCE A-C VS DRIVE CONTROL, ROLLER
                         FEEDER, CONTROL CONSOLE, CYLINDERS, BEARINGS,
                         ASSOCIATED EQUIPMENT, S/N N/A

    49        15048      UNIT #PS-2 TIME-SAVER 36" SPEEDBELT AUTOMATIC SANDER        $15,000.00     $18,000.00     $ 21,000.00
                         (SOLEM), MODEL #337-1HD, S/N 12902 W/ BELT CONVEYOR,
                         CONTROL CONSOLE, ASSOCIATED EQUIPMENT

    50        15049      UNIT #PS-3 TIME-SAVER 36" SPEEDBELT AUTOMATIC SANDER        $15,000.00     $18,000.00     $ 21,000.00
                         (SOLEM), MODEL #337-1HD, S/N 12901 W/ BELT CONVEYOR,
                         CONTROL CONSOLE, ASSOCIATED EQUIPMENT
---------------------------------------------------------------------------------------------------------------------------------
                         PAGE TOTAL                                                  $71,000.00     $89,300.00     $107,600.00
---------------------------------------------------------------------------------------------------------------------------------

Page 8

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
ITEM#     ID#                           DESCRIPTION                                  FLV            FMV            FMVIP
---------------------------------------------------------------------------------------------------------------------------------
MILL ROOM (CONT'D)
---------------------------------------------------------------------------------------------------------------------------------
    51        15050      UNIT #PS-4 TIME-SAVER 36" SPEEDBELT AUTOMATIC SANDER        $ 15,000.00    $ 18,000.00    $ 21,000.00
                         (SOLEM), MODEL #337-1HD, S/N 12900 W/ BELT CONVEYOR,
                         CONTROL CONSOLE, ASSOCIATED EQUIPMENT

    52        15051      UNIT #PS-1 RAMCO 50" AUTOMATIC BELT SANDER (SOLEM),         $ 12,000.00    $ 14,500.00    $ 17,000.00
                         MODEL #5200, S/N 1009, W/ CONTROL CONSOLE, BELT
                         CONVEYOR, ASSOCIATED EQUIPMENT, PROP #3470

    53        15052      UNIT #SE-1 CHALLONER EQUALIZER DOUBLE ENDED RIP SAW,        $ 10,000.00    $ 12,500.00    $ 16,000.00
                         MODEL #521, S/N 405840, W/ CONVEYOR, SENSORS, CONTROL
                         CONSOLE, ASSOCIATED EQUIPMENT

    54        15053      UNIT #SG-1 CUSTOM DESIGNED GANG RIP SAW 34" CAPACITY,       $ 15,000.00    $ 20,000.00    $ 24,000.00
                         W/ DRIVE MOTOR, CONVEYOR, CONTROL CONSOLE, BACK KICK
                         GUARDS, ASSOCIATED EQUIPMENT

    55        15054      UNIT #SLG-1 GREENLEE DOUBLE ENDED LINEAR GROOVER, MODEL     $ 40,000.00    $ 50,000.00    $ 60,000.00
                         #545, COMPLETE W/ EATON DURANT SYSTEM 6450, DIGITAL
                         CONTROL CONSOLE, SENSORS, CONTROL CABINET, DRIVE MOTOR,
                         ASSOCIATED EQUIPMENT, S/N 56015

    56        15055      UNIT #ST-7 MEREEN JOHNSON DOUBLE ENDED TENONING             $ 50,000.00    $ 60,000.00    $ 70,000.00
                         MACHINE, MODEL #660, S/N MJ2893, COMPLETE  W/ CONTROL
                         CONSOLE, ENCLOSURE, CONVEYOR SYSTEM, OPERATORS,
                         CONTROLS, DRIVE MOTOR, ASSOCIATED EQUIPMENT
---------------------------------------------------------------------------------------------------------------------------------
                         PAGE TOTAL                                                  $142,000.00    $175,000.00    $208,000.00
---------------------------------------------------------------------------------------------------------------------------------

Page 9

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
ITEM#     ID#                           DESCRIPTION                                  FLV            FMV            FMVIP
---------------------------------------------------------------------------------------------------------------------------------
MILL ROOM (CONT'D)
---------------------------------------------------------------------------------------------------------------------------------
    57        15057      UNIT #ST-8 MEREEN JOHNSON DOUBLE ENDED TENONING MACHINE,    $ 45,000.00    $ 55,000.00    $ 65,000.00
                         MODEL #660, S/N MJ2619, COMPLETE  W/ CONTROL CONSOLE,
                         ENCLOSURE, CONVEYOR SYSTEM, OPERATORS, CONTROLS, DRIVE
                         MOTOR, ASSOCIATED EQUIPMENT

    58        15056      MECCANICA RBO BIESSE GROUP AUTOMATIC PANEL LOADING          $ 10,000.00    $ 15,000.00    $ 20,000.00
                         SYSTEM, W/ ENCLOSURE, CONTROLS, ASSOCIATED EQUIPMENT

    59        15063      UNIT #AC-3 MECCANICA RBO BIESSE GROUP AUTOMATIC PANEL       $ 30,000.00    $ 40,000.00    $ 50,000.00
                         LOADING SYSTEM, MODEL TORNADO S / 1300, W/ ENCLOSURE,
                         CONTROL CONSOLE, SIEMENS OP-393-III TOUCH PAD,
                         ASSOCIATED EQUIPMENT, S/N 933378, (1993)

    60        15077      UNIT #AC-2 MECCANICA RBO BIESSE GROUP AUTOMATIC DOUBLE      $ 45,000.00    $ 60,000.00    $ 75,000.00
                         SIDED PANEL LOADING SYSTEM, MODEL TORNADO S / 1300, W/
                         ENCLOSURE, CONTROL CONSOLE, SIEMENS OP-393-III TOUCH
                         PAD, ASSOCIATED EQUIPMENT, S/N 933376, (1993)

    61        15083      UNIT #AC-1 MECCANICA RBO BIESSE GROUP AUTOMATIC PANEL       $ 30,000.00    $ 40,000.00    $ 50,000.00
                         LOADING SYSTEM, MODEL TORNADO S / 1300, W/ ENCLOSURE,
                         CONTROL CONSOLE, SIEMENS OP-393-III TOUCH PAD,
                         ASSOCIATED EQUIPMENT, (1993)
---------------------------------------------------------------------------------------------------------------------------------
                         PAGE TOTAL                                                  $160,000.00    $210,000.00    $260,000.00
---------------------------------------------------------------------------------------------------------------------------------

Page 10

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
CIUDAD JUAREZ, MX PLANT #43

April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #         ID#                         DESCRIPTION                                   FLV                FMV           FMVIP
------------------------------------------------------------------------------------------------------------------------------------
MILL ROOM (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    62        15058    CUSTOM DESIGNED & FABRICATED PNEUMATIC MULTIPLE SPINDLE          $   500.00       $    750.00   $  1,000.00
                       DRILLING TABLE W/ FIXTURE AIR RECEIVER, ASSOCIATED
                       EQUIPMENT

    63        15059    CUSTOM DESIGNED & FABRICATED PNEUMATIC MULTIPLE SPINDLE          $   500.00       $    750.00   $  1,000.00
                       DRILLING TABLE W/ FIXTURE AIR RECEIVER, ASSOCIATED
                       EQUIPMENT

    64        15060    CUSTOM DESIGNED & FABRICATED PNEUMATIC MULTIPLE SPINDLE          $   500.00       $    750.00   $  1,000.00
                       DRILLING TABLE W/ FIXTURE AIR RECEIVER, ASSOCIATED
                       EQUIPMENT

    65        15061    CUSTOM DESIGNED & FABRICATED PNEUMATIC MULTIPLE SPINDLE          $   500.00       $    750.00   $  1,000.00
                       DRILLING TABLE W/ FIXTURE AIR RECEIVER, ASSOCIATED
                       EQUIPMENT

    66        15062    CUSTOM DESIGNED & FABRICATED PNEUMATIC MULTIPLE SPINDLE          $   500.00       $    750.00   $  1,000.00
                       DRILLING TABLE W  FIXTURE AIR RECEIVER, ASSOCIATED
                       EQUIPMENT

    67        15065    CUSTOM DESIGNED LIVE ROLLER CONVEYOR FEED SYSTEM W/              $ 2,000.00       $  2,750.00   $  3,500.00
                       DRIVE MOTOR, ASSOCIATED EQUIPMENT

    68        15064    UNIT #ST-5 TORWEEGE DOUBLE ENDED TENONING MACHINE,               $80,000.00       $ 95,000.00   $110,000.00
                       MODEL #H635, S/N 274 (1986), COMPLETE W/ CONTROL
                       CONSOLE, ENCLOSURE, DRIVE MOTOR, OPERATOR CONTROLS,
                       CONVEYOR, BACK STOP, ASSOCIATED EQUIPMENT

------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                       $84,500.00       $101,500.00   $118,500.00
------------------------------------------------------------------------------------------------------------------------------------

Page 11

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
CIUDAD JUAREZ, MX PLANT #43

April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #        ID#                          DESCRIPTION                            FLV                FMV                FMVIP
------------------------------------------------------------------------------------------------------------------------------------
MILL ROOM (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    69        15066    UNIT #ST-6 TORWEEGE DOUBLE ENDED TENONING MACHINE,         $ 80,000.00        $ 95,000.00         $110,000.00
                       MODEL #H635, S/N 275 (1986), COMPLETE W/ CONTROL
                       CONSOLE, ENCLOSURE, DRIVE MOTOR, OPERATOR CONTROLS,
                       CONVEYOR, BACK STOP, ASSOCIATED EQUIPMENT

    70        15078    UNIT #ST-3 TORWEEGE DOUBLE ENDED TENONING MACHINE,         $110,000.00        $125,000.00         $145,000.00
                       MODEL #H635, S/N 450 (1993), COMPLETE W/ TORWEEGE
                       COMPUTER CONTROL CONSOLE, ENCLOSURE, DRIVE MOTOR,
                       OPERATOR CONTROLS, CONVEYOR, BACK STOP, ASSOCIATED
                       EQUIPMENT

    71        15079    UNIT #ST-4 TORWEEGE DOUBLE ENDED TENONING MACHINE,         $135,000.00        $155,000.00         $175,000.00
                       MODEL #H635, S/N 451 (1993), COMPLETE W/ GANTRY FRAME
                       FEED MECHANISM, ENCLOSURE, DRIVE MOTOR, OPERATOR
                       CONTROLS, CONVEYOR, BACK STOP, ASSOCIATED EQUIPMENT

    72        15075    UNIT #EF-4 VOORWOOD SMALL EDGE FOIL APPLICATOR, MODEL      $  7,500.00        $ 10,000.00         $ 12,500.00
                       #L-110, S/N 6437, W/ FEEDER, CONTROL UNIT, ASSOCIATED
                       EQUIPMENT

    73        15076    UNIT #EF-3 VOORWOOD SMALL EDGE FOIL APPLICATOR, MODEL      $  7,500.00        $ 10,000.00         $ 12,500.00
                       #L-110, S/N 6438, W/ FEEDER, CONTROL UNIT, ASSOCIATED
                       EQUIPMENT

------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                 $340,000.00        $395,000.00         $455,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 12

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
CIUDAD JUAREZ, MX PLANT #43

April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #        ID#                         DESCRIPTION                                FLV                FMV              FMVIP
------------------------------------------------------------------------------------------------------------------------------------
MILL ROOM (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    74        15081    UNIT #MMD-3 BIESSE 32 MILLIMETRIC DOWEL DRILL, TECHNO         $115,000.00        $130,000.00     $150,000.00
                       LOGIC CONTROL CONSOLE, ADJUSTABLE CONVEYOR, ADJUSTABLE
                       HORIZONTAL / VERTICAL DRILL SPINDLES, PNEUMATICS,
                       ASSOCIATED EQUIPMENT, S/N 93/0872

    75        15087    UNIT #MMD-1 BIESSE 32 MILLIMETRIC DOWEL DRILL, TECHNO         $115,000.00        $130,000.00     $150,000.00
                       LOGIC CONTROL CONSOLE, ADJUSTABLE CONVEYOR, ADJUSTABLE
                       HORIZONTAL / VERTICAL DRILL SPINDLES, PNEUMATICS,
                       ASSOCIATED EQUIPMENT,  S/N 93/0869

    76        15088    UNIT #MMD-2 BIESSE 32 MILLIMETRIC DOWEL DRILL, TECHNO         $115,000.00        $130,000.00     $150,000.00
                       LOGIC CONTROL CONSOLE, ADJUSTABLE CONVEYOR, ADJUSTABLE
                       HORIZONTAL / VERTICAL DRILL SPINDLES, PNEUMATICS,
                       ASSOCIATED EQUIPMENT, S/N 93/0870

    77        15067    UNIT #MMD-4 BIESSE MILLIMETRIC HORIZONTAL DOWEL DRILL         $ 40,000.00        $ 50,000.00     $ 60,000.00
                       UNIT, MODEL #TS/74, S/N 264/80, (1980), W/ CONTROL
                       CONSOLE, ADJUSTABLE, STOP DEVICE, CONVEYOR, ASSOCIATED
                       EQUIPMENT

    78        15080    UNIT #AF-2 MECCANICA RBO BIESSE GROUP MODEL GIRAPEZZI         $ 15,000.00        $ 17,500.00     $ 20,000.00
                       LTC 12 X 30, LIVE ROLLER CONVEYOR TRANSFER & TURN
                       CONVEYOR W/ CONTROL CONSOLE, PNEUMATICS, ASSOCIATED
                       EQUIPMENT, S/N 93/3377, (1993)

------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                    $400,000.00        $457,500.00     $530,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 13

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
CIUDAD JUAREZ, MX PLANT #43

April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #        ID#                         DESCRIPTION                                   FLV             FMV             FMVIP
------------------------------------------------------------------------------------------------------------------------------------
MILL ROOM (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    79        15086      UNIT #AF-1 MECCANICA RBO BIESSE GROUP MODEL GIRAPEZZI          $ 15,000.00    $ 17,500.00     $ 20,000.00
                         LTC 12 X 30, LIVE ROLLER CONVEYOR, TRANSFER & TURN,
                         CONVEYOR W/ CONTROL CONSOLE, PNEUMATICS, ASSOCIATED
                         EQUIPMENT, S/N 93/3375, (1993)

    80        15068      UNIT #MC-3 BIESSE CNC VERTICAL MACHINING CENTER MODEL          $135,000.00    $150,000.00     $165,000.00
                         ROVER 346/ATC COMPLETE W/ CNC RT-480, CNC CONTROL
                         CONSOLE, ADJUSTABLE CLAMP, FIXTURE, GANTRY FRAME, LIGHT
                         CURTAIN, ASSOCIATED EQUIPMENT, S/N 93/0570, (1993)

    81        15069      UNIT #MC-2 BIESSE CNC VERTICAL MACHINING CENTER MODEL          $135,000.00    $150,000.00     $165,000.00
                         ROVER 346/ATC COMPLETE W/ CNC RT-480, CNC CONTROL
                         CONSOLE, ADJUSTABLE CLAMP, FIXTURE, GANTRY FRAME, LIGHT
                         CURTAIN, ASSOCIATED EQUIPMENT, S/N 93/0568, (1993)

    82        15070      UNIT #MC-1 BIESSE CNC VERTICAL MACHINING CENTER MODEL          $135,000.00    $150,000.00     $165,000.00
                         ROVER 346/ATC COMPLETE W  CNC RT-480, CNC CONTROL
                         CONSOLE, ADJUSTABLE CLAMP, FIXTURE, GANTRY FRAME, LIGHT
                         CURTAIN, ASSOCIATED EQUIPMENT, S/N 93/0569, (1993)

------------------------------------------------------------------------------------------------------------------------------------
                         PAGE TOTAL                                                     $420,000.00    $467,500.00     $515,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 14

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
CIUDAD JUAREZ, MX PLANT #43

April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #        ID#                         DESCRIPTION                                   FLV             FMV             FMVIP
------------------------------------------------------------------------------------------------------------------------------------
MILL ROOM (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    83        15071           UNIT #EF-2 FLETCHER TOLBERT AUTOMATIC EDGE FOIL          $ 55,000.00     $ 80,000.00     $100,000.00
                              LAMINATING MACHINE, MODEL #200D, COMPLETE W/ ENCLOSURE,
                              CONTROL CONSOLE, CONVEYOR, OPERATORS, CONTROLS,
                              HYDRAULIC UNIT, DISPENSERS, HEAT SENSORS, ASSOCIATED
                              EQUIPMENT, S/N N/A

    84        15072           UNIT #EF-1 FLETCHER TOLBERT AUTOMATIC EDGE FOIL          $ 55,000.00     $ 80,000.00     $100,000.00
                              LAMINATING MACHINE, MODEL #200D, COMPLETE W/ ENCLOSURE,
                              CONTROL CONSOLE, CONVEYOR, OPERATORS, CONTROLS,
                              HYDRAULIC UNIT, DISPENSERS, HEAT SENSORS, ASSOCIATED
                              EQUIPMENT, S/N 840200D

    85        15073           UNIT #EC-2 MARUNAKA EDGE CONTOUR / LAMINATOR MODEL       $  9,000.00     $ 11,000.00     $ 14,000.00
                              #KCB-70C-DX W/ EDGER AND FEEDER, S/N 81344K, (1994)

    86        15074           UNIT #EC-1 MARUNAKA EDGE CONTOUR / LAMINATOR MODEL       $  9,000.00     $ 11,000.00     $ 14,000.00
                              #KCB-70C-DX W/ EDGER AND FEEDER, S/N 81345K, (1994)

    87        15082           UNIT #ADI-3 BIESSE AUTOMATIC DOWEL INSERTER, TECHNO      $ 80,000.00     $ 90,000.00     $100,000.00
                              SVBL/J COMPLETE W/ ADJUSTABLE CONVEYOR, DIGITAL CONTROL
                              CONSOLE, (2) VIBRATORY FEEDERS, ASSOCIATED EQUIPMENT,
                              S/N 93/0873, (1993)

------------------------------------------------------------------------------------------------------------------------------------
                              PAGE TOTAL                                               $208,000.00     $272,000.00     $328,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 15

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
ITEM#          ID#                        DESCRIPTION                                      FLV               FMV         FMVIP
---------------------------------------------------------------------------------------------------------------------------------
MILL ROOM (CONT'D)
---------------------------------------------------------------------------------------------------------------------------------
 88          15089      UNIT #ADI-1 NOTLMEYER AUTOMATIC DOWEL INSERTER, MODEL         $145,000.00       $165,000.00    $190,000.00
                        KOMET SUPER-SPN-IG, S/N 20285, (1995) COMPLETE W/ (2)
                        VIBRATORY FEEDERS, ADJUSTABLE CONVEYOR, (5) ADJUSTABLE
                        INSERTING MECHANISMS, GLUE DISPENSER, GANTRY STYLE,
                        ASSOCIATED EQUIPMENT

 89          15084      UNIT #ST-1 TORWEEGE COMPUTER CONTROLLED DOUBLE ENDED          $105,000.00       $125,000.00    $145,000.00
                        TENONING MACHINE, MODEL #H635 COMPLETE W/ ENCLOSURE, PC
                        BASED CONTROL CABINET, CONVEYOR, BACK STOP, DRIVE
                        MOTOR, FEEDER, ASSOCIATED EQUIPMENT, S/N 452, (1993)

 90          15085      UNIT #ST-2 TORWEEGE COMPUTER CONTROLLED DOUBLE ENDED          $105,000.00       $125,000.00    $145,000.00
                        TENONING MACHINE, MODEL #H635 COMPLETE W/ ENCLOSURE, PC
                        BASED CONTROL CABINET, CONVEYOR, BACK STOP, DRIVE
                        MOTOR, FEEDER, ASSOCIATED EQUIPMENT, S/N 453, (1993)

 91          15090      UNIT #POS-1 AM&D INFRATECH STAINING SYSTEM COMPLETE W/        $  4,000.00       $  6,000.00    $  8,000.00
                        COATER-APPLICATOR, ID POWER CURING, IR DRYER, BLOWER,
                        CLEATED CONVEYOR UNIT, ASSOCIATED EQUIPMENT, S/N 00136

----------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                    $359,000.00       $421,000.00    $488,000.00
----------------------------------------------------------------------------------------------------------------------------------

Page 16

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
ITEM#      ID#                             DESCRIPTION                                 FLV                FMV            FMVIP
---------------------------------------------------------------------------------------------------------------------------------
MILL ROOM (CONT'D)
---------------------------------------------------------------------------------------------------------------------------------
 92                     MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT           $ 75,000.00      $100,000.00     $135,000.00
                        LIMITED TO:  SELF DUMPING HOPPERS, PERSONAL COMPUTERS,
                        CUSTOM BUILT HORIZONTAL PNEUMATIC SPINDLE DRILL
                        FIXTURES, PALLET JACKS, WORK TABLES, INVENTORY CARTS,
                        BLOWERS, STOOLS, WASTE BASKETS, WORK CONVEYORS, LIVE
                        ROLLER CONVEYORS, MANUAL ROLLER CONVEYORS, ROLL LIFT
                        RIDE-ON 2000 LB SCISSOR LIFT PLATFORMS, PNEUMATIC HAND
                        TOOLS, FIRE EXTINGUISHERS
---------------------------------------------------------------------------------------------------------------------------------
PANEL ROOM
---------------------------------------------------------------------------------------------------------------------------------
 93        15091        UNIT #BS-1 38" CUSTOM DESIGNED BACK STAMPING LINE           $ 40,000.00      $ 55,000.00     $ 75,000.00
                        COMPLETE W/ THE FOLLOWING COMPONENTS:  HARCO (SILK)
                        SCREENING DEVICE, S/N P2L88, SCISSOR LIFT TABLE, CURING
                        OVEN, BRUSH, BELT CONVEYOR, ASHDEE BRUSH CLEANER, BLACK
                        BROTHERS HOT ROLL ADHESIVE  APPLICATOR, CURING OVEN,
                        BLOWERS, ASSOCIATED EQUIPMENT

 94        15092        UNIT #HP-1 STANDARD 4 POST HYDRAULIC STAMPING PRESS,        $ 45,000.00      $ 55,000.00     $ 70,000.00
                        MODEL #AP-300, S/N 98910, W/ ROLLER CONVEYOR, (2) EXIT
                        BELT CONVEYORS, SCISSOR LIFT TABLE, ASSOCIATED EQUIPMENT

 95        15093        UNIT #PP-1 CUSTOM BUILT PNEUMATIC GAP FRAME STAMPING        $    400.00      $    550.00     $    700.00
                        PRESS W/ HAND ACTUATED ASSOCIATED EQUIPMENT

---------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                  $160,400.00      $210,550.00     $280,700.00
---------------------------------------------------------------------------------------------------------------------------------

Page 17

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
ITEM#      ID#                             DESCRIPTION                                 FLV                FMV            FMVIP
----------------------------------------------------------------------------------------------------------------------------------
PANEL ROOM (CONT'D)
----------------------------------------------------------------------------------------------------------------------------------
 96        15094     INGERSOLL & RAND HORIZONTAL TANK AIR COMPRESSOR, MODEL        $  1,000.00        $  1,250.00      $  1,500.00
                     #T-30, 2 STAGE, 5 HP, S/N 711863

 97        15095     UNIT #PR-1 BLACK BROTHERS ADHESIVE SPREADER W/ CHROME         $  4,000.00        $  5,500.00      $  7,000.00
                     CYLINDERS, RELIANCE A-C VS DRIVE MOTOR CONTROL, ROLLER
                     CONVEYOR FEED, ASSOCIATED EQUIPMENT, S/N 153561

 98        15096     UNIT #G17-1 GIBEN CNC PANEL SIZING MACHINE, MODEL             $165,000.00        $205,000.00      $250,000.00
                     #17PIOS, S/N 400-9-013, (1989), COMPLETE W / CONTROL
                     CONSOLE, PANEL CONVEYOR, PANEL FEEDER, POWER SUPPLY,
                     AIR-ROLLER BEARING TABLE, BLOWERS, (3) SCISSOR LIFT
                     TABLES, PLATFORMS,  MANUAL ROLLER CONVEYORS, (2) HYTROL
                     EXIT BELT CONVEYORS, WEBSTER VIBRATORY PAN SCRAP
                     CONVEYOR, ASSOCIATED EQUIPMENT

 99        15097     UNIT #G17-2 GIBEN CNC PANEL SIZING MACHINE, MODEL #17         $140,000.00        $180,000.00      $230,000.00
                     ALPHA-N, S/N 400-8-076, (1989), COMPLETE W/ CONTROL
                     CONSOLE, PANEL CONVEYOR, PANEL FEEDER, POWER SUPPLY,
                     AIR-ROLLER BEARING TABLE, BLOWERS, MANUAL ROLLER
                     CONVEYORS, WEBSTER VIBRATORY PAN SCRAP CONVEYOR,
                     ASSOCIATED EQUIPMENT

----------------------------------------------------------------------------------------------------------------------------------
                     PAGE TOTAL                                                    $310,000.00        $391,750.00      $488,500.00
----------------------------------------------------------------------------------------------------------------------------------

Page 18

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

-----------------------------------------------------------------------------------------------------------------------------------
ITEM#       ID#                           DESCRIPTION                                   FLV                FMV            FMVIP

-----------------------------------------------------------------------------------------------------------------------------------
PANEL ROOM (CONT'D)
-----------------------------------------------------------------------------------------------------------------------------------
 100       15098        GIBEN PANEL SIZING MACHINE MODEL  SUPERMATIC                   $30,000.00         $37,500.00    $ 45,000.00
                        78-E4/78MOS-57 COMPLETE W/ PROFACE TOTAL CONTROL QUICK
                        PANEL JR TOUCH PAD, ROLLER CONVEYORS, LIGHT CURTAIN,
                        FEED TABLE, ASSOCIATED EQUIPMENT, S/N 500-8-170,
                        (1978), (NOT IN SERVICE)

 101       15099        (25) LANES OF 36" HYTROL 36" X 30' MANUAL ROLLER               $12,500.00         $18,000.00    $ 25,000.00
                        CONVEYORS, (4) SHUTTLE CONVEYORS, ASSOCIATED EQUIPMENT

 102                    MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT              $ 3,000.00          $4,000.00    $  5,000.00
                        LIMITED TO:  PALLET JACKS, PALLET RACKING, STOOLS, SELF
                        DUMPING HOPPERS, DESKS, PERSONAL COMPUTERS, INVENTORY
                        CARTS, WASTE BASKETS, FIRE EXTINGUISHERS

-----------------------------------------------------------------------------------------------------------------------------------
LAMINATION ROOM
-----------------------------------------------------------------------------------------------------------------------------------
 103          15100     HARLAN MACHINERY 48" PANEL LAMINATION LINE COMPLETE W/         $250,000.00        $325,000.00   $450,000.00
                        (2) STERLCO TEMPERATURE CONTROLS S/N 64127, 63786,
                        MEZZANINE, WEB FEEDER, CONTROL CONSOLE, FILM DISPENSER,
                        SLITTER, CHROME CYLINDERS, TEMP INDICATOR, AIR
                        COMPRESSOR, MICRO CLEANING DEVICE, PUMP, BOARD FEEDER,
                        BLOWER, EXIT BELT CONVEYOR, CLEATED CONVEYOR, (3)
                        SCISSOR LIFT, CONTROLS, ASSOCIATED EQUIPMENT

-----------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                     $295,500.00        $384,500.00   $525,000.00
-----------------------------------------------------------------------------------------------------------------------------------

Page 19

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------------
ITEM#       ID#                           DESCRIPTION                                 FLV                FMV              FMVIP
----------------------------------------------------------------------------------------------------------------------------------
LAMINATION ROOM (CONT'D)
----------------------------------------------------------------------------------------------------------------------------------
 104                      MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT         $ 1,500.00         $ 2,000.00       $ 2,500.00
                          LIMITED TO:  WASTE BASKETS, STORAGE SHELVES, BARREL
                          PUMP, PERSONAL COMPUTER, DESK, CHAIRS

----------------------------------------------------------------------------------------------------------------------------------
ASSEMBLY AREA
----------------------------------------------------------------------------------------------------------------------------------
 105       15106          CUSTOM DESIGNED WOOD CABINET TV ASSEMBLY LINE A-2,        $15,000.00         $25,000.00       $50,000.00
                          COMPLETE W / APPROXIMATELY (2500) LINEAR FEET OF CHAIN
                          LINK CARRIER CONVEYORS, WORK TABLES, SOUND BOOTH, BURN
                          - IN AREA, SENSORS, DRIVE MOTORS, APPROXIMATELY (120)
                          CARRIERS, PERSONAL COMPUTERS,  STORAGE RACKS, PNEUMATIC
                          COUNTER BALANCE LIFT MECHANISM, JIB FRAME W/ CHAIN
                          HOIST, PNEUMATIC HAND TOOLS, MULTI-METERS, LEADER
                          OSCILLOSCOPES, MODEL #LBO-514A, HI-POT TESTER, SCISSOR
                          LIFT, (2) SIGNODE AUTOMATIC STRAPERS, PICK & PLACE
                          PNEUMATIC CASE LOADING ROBOT, AUTOMATIC TAPE DISPENSING
                          CASE SEALER, EXIT ROLLER CONVEYORS, ASSOCIATED EQUIPMENT

 106       15107          CUSTOM DESIGNED PURITY TEST STATION COMPLETE W/           $ 3,000.00         $ 5,000.00       $ 8,000.00
                          ELECTRIC MAGNET, MIRRORS, MONITORS, POWER SUPPLIES,
                          COMPUTERS, BOOTH YOKE PURITY DEVICE, PNEUMATIC HAND
                          TOOLS, ASSOCIATED EQUIPMENT, S/N N/A

----------------------------------------------------------------------------------------------------------------------------------
                          PAGE TOTAL                                                $19,500.00         $32,000.00       $60,500.00
----------------------------------------------------------------------------------------------------------------------------------

Page 20

GREENWICH INDUSTRIAL SERVICES, LLC
APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43
APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #         ID#                          DESCRIPTION                                  FLV            FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
ASSEMBLY AREA (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    107       15108           CUSTOM DESIGNED PURITY TEST STATION COMPLETE W/            $ 3,000.00     $ 5,000.00     $ 8,000.00
                              ELECTRIC MAGNET, MIRRORS, MONITORS, POWER SUPPLIES,
                              COMPUTERS, BOOTH YOKE PURITY DEVICE, PNEUMATIC HAND
                              TOOLS, ASSOCIATED EQUIPMENT, S/N N/A

    108       15109           CUSTOM DESIGNED DUAL TRACKING INSPECTION STATION           $ 6,000.00     $10,000.00     $15,000.00
                              COMPLETE W / MIRRORS, BOOTH, (2) MAGNETS, CONTROL
                              CABINETS W/ INDUSTRIAL PC, MONITORS, CAMERAS, (2)
                              MINOLTA COLOR ANALYZER CA100, KEYBOARDS, P/C CONTROLS,
                              ASSOCIATED EQUIPMENT

    109       15110           CUSTOM DESIGNED CONVERGENCE MEASUREMENT SYSTEM COMPLETE    $ 1,500.00     $ 2,500.00     $ 3,500.00
                              W/ BOOTH, CAMERA, (3) TENMA DC POWER SUPPLY, STATIC
                              CONVERGENCE MEASUREMENT EQUIPMENT #90012

    110       15111           CUSTOM DESIGNED CONVERGENCE MEASUREMENT SYSTEM COMPLETE    $ 1,500.00     $ 2,500.00     $ 3,500.00
                              W/ BOOTH, CAMERA, (3) TENMA DC POWER SUPPLY, STATIC
                              CONVERGENCE MEASUREMENT EQUIPMENT

    111       15112           CUSTOM DESIGNED  DYNAMIC CONVERGENCE MEASUREMENT SYSTEM    $ 2,000.00     $ 3,000.00     $ 4,250.00
                              COMPLETE W/ (3) TENMA DC POWER SUPPLIES, DYNAMIC
                              CONVERGENCE MEASUREMENT EQUIPMENT, MIRRORS, MONITORS,
                              CAMERA, ASSOCIATED EQUIPMENT

------------------------------------------------------------------------------------------------------------------------------------
                              PAGE TOTAL                                                 $14,000.00     $23,000.00    $ 34,250.00
------------------------------------------------------------------------------------------------------------------------------------

Page 21

GREENWICH INDUSTRIAL SERVICES, LLC
APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43
APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #         ID#                          DESCRIPTION                                  FLV            FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
ASSEMBLY AREA (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    112       15113           CUSTOM DESIGNED GEOMETRY MEASUREMENT INSPECTION STATION   $ 1,500.00     $ 2,250.00     $ 3,000.00
                              COMPLETE W/ (3) TENMA DC POWER SUPPLIES, GEOMETRY
                              MEASUREMENT EQUIPMENT, MONITORS, BOOTH, CAMERA,
                              ASSOCIATED EQUIPMENT

    113       15114           CUSTOM DESIGNED AIRE-1 QUALITY APPROVAL INSPECTION        $ 1,000.00     $ 1,600.00     $ 2,250.00
                              STATION COMPLETE W/ MAGNET, MIRRORS, BOOTH,  (3) TENMA
                              POWER SUPPLIES, PLC CONTROLS, ASSOCIATED EQUIPMENT

    114       15115           ZENITH CUSTOM DESIGNED ASSEMBLY LINE (#3 & #4) COMPLETE   $10,000.00     $17,500.00     $30,000.00
                              W/ THE FOLLOWING:  CHAIN HOISTS, ROLLER CONVEYORS, (3)
                              COUNTER BALANCE PNEUMATIC LIFT MECHANISMS, CARRIER
                              CONVEYOR SYSTEM, WORK STATIONS, BOOTHS,  MAGNETS,
                              LEADER AUTO LEVEL METER, AMPLIFIERS, LEADER AUDIO
                              SIGNAL GENERATOR, LEADER DIGITAL COUNTER, POWER
                              SUPPLIES, MEZZANINE WORK AREA, CABINETS, (5) ELEVATOR
                              LIFT UNITS, MIRRORS, DRIVE MOTOR, ASSOCIATED EQUIPMENT,
                              (NOT IN SERVICE)

------------------------------------------------------------------------------------------------------------------------------------
                              PAGE TOTAL                                                $12,500.00     $21,350.00     $35,250.00
------------------------------------------------------------------------------------------------------------------------------------

Page 22

GREENWICH INDUSTRIAL SERVICES, LLC
APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43
APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #         ID#                          DESCRIPTION                                  FLV            FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
ASSEMBLY AREA (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    115       15117           ZENITH LINE #2 CABINET ASSEMBLY LINE COMPLETE W/ THE      $20,000.00     $50,000.00     $ 80,000.00
                              FOLLOWING COMPONENTS:  MANUAL ROLLER CONVEYORS, WORK
                              TABLES, 24" POWER BELT CONVEYOR, COUNTER BALANCE,
                              CUSTOM FABRICATED PNEUMATIC STAPLE GUN TABLE,
                              APPROXIMATELY (30) PNEUMATIC HAND TOOLS, ASSORTED HAND
                              TOOLS, CLAMP UNITS, APPROXIMATELY (40) PNEUMATIC NAIL
                              GUNS, GANTRY FRAME COMPRESSION UNIT, CONTROL CONSOLE,
                              RELIANCE AC VARIABLE SPEED MOTOR CONTROLS, LIVE ROLLER
                              CONVEYORS, ASSOCIATED EQUIPMENT

    116       15118           ZENITH REAR PROJECTION ASSEMBLY LINE (LINE #1) COMPLETE   $10,000.00     $20,000.00     $ 45,000.00
                              W / THE FOLLOWING:  HOPPERS WORK TABLES, 32" MANUAL
                              ROLLER CONVEYORS, 24" POWER BELT CONVEYOR, COMPRESSION
                              UNIT, DRIVE MOTOR, COUNTER BALANCES, BOOTHS, LEADER LOW
                              DISTORTION REGULATED POWER SUPPLIES, AUDIO GENERATOR,
                              (3) LEADER 20 MHZ OSCILLOSCOPES, CARRIER, CHAIN LINK
                              CONVEYOR SYSTEM, ENCLOSURES, SCISSOR LIFT, CONTROL
                              CONSOLE, MOTOR CONTROLS, BURN-IN AREA, VIDEO CAMERAS,
                              VIDEO MONITORS
                              (continued on next page)

------------------------------------------------------------------------------------------------------------------------------------
                              PAGE TOTAL                                                $30,000.00     $70,000.00     $125,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 24

GREENWICH INDUSTRIAL SERVICES, LLC
APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43
APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #         ID#                          DESCRIPTION                                  FLV            FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
ASSEMBLY AREA (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
                              (continued from previous page)
                              INSPECTION STATION, PERSONAL COMPUTERS,  CENTERING
                              INSPECTION STATION, SIGNAL TRU SPEC AMPLIFIERS, PICK &
                              PLACE ROBOT PACKAGING UNIT, EXIT ROLLER CONVEYOR,
                              HI-POT TESTER, M150AC, SLAUGHTERBACK HOT GLUE
                              APPLICATOR, AUTOMATIC CASE STRAPPER, ASSOCIATED
                              EQUIPMENT

    117       15119           CONVERGENCE INSPECTION STATION COMPLETE W / CAMERA,       $  750.00      $1,500.00      $ 2,500.00
                              AUTOMATIC POSITIONING SYSTEM, INDUSTRIAL PC, MONITORS,
                              SUPERIOR STABILINE UPS, AGILE MODULATOR, ASSOCIATED
                              EQUIPMENT

    118       15120           CONVERGENCE INSPECTION STATION COMPLETE W/ CAMERA,        $  750.00      $1,500.00      $ 2,500.00
                              AUTOMATIC POSITIONING SYSTEM, INDUSTRIAL PC, MONITORS,
                              SUPERIOR STABILINE UPS, AGILE MODULATOR, ASSOCIATED
                              EQUIPMENT

    119       15121           CONVERGENCE INSPECTION STATION COMPLETE W/ CAMERA,        $  750.00      $1,500.00      $ 2,500.00
                              AUTOMATIC POSITIONING SYSTEM, INDUSTRIAL PC, MONITORS,
                              SUPERIOR STABILINE UPS, AGILE MODULATOR, ASSOCIATED
                              EQUIPMENT

    120       15123           CONVERGENCE INSPECTION STATION COMPLETE W/ CAMERA,        $  750.00      $1,500.00      $ 2,500.00
                              AUTOMATIC POSITIONING SYSTEM, INDUSTRIAL PC, MONITORS,
                              SUPERIOR STABILINE UPS, AGILE MODULATOR, ASSOCIATED
                              EQUIPMENT

------------------------------------------------------------------------------------------------------------------------------------
                              PAGE TOTAL                                                $3,000.00      $6,000.00      $10,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 24

GREENWICH INDUSTRIAL SERVICES, LLC
APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43
APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #         ID#                          DESCRIPTION                                  FLV            FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
ASSEMBLY AREA (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    121       15124           CONVERGENCE INSPECTION STATION COMPLETE W/ CAMERA,        $  750.00      $ 1,500.00     $ 2,500.00
                              AUTOMATIC POSITIONING SYSTEM, INDUSTRIAL PC, MONITORS,
                              SUPERIOR STABILINE UPS, AGILE MODULATOR, ASSOCIATED
                              EQUIPMENT

    122       15125           CONVERGENCE INSPECTION STATION COMPLETE W/ CAMERA,        $  750.00      $ 1,500.00     $ 2,500.00
                              AUTOMATIC POSITIONING SYSTEMINDUSTRIAL PC, MONITORS,
                              SUPERIOR STABILINE UPS, AGILE MODULATOR, ASSOCIATED
                              EQUIPMENT

    123       15122           CUSTOM TRACKING INSPECTION STATION COMPLETE W / MINOLTA   $2,500.00      $ 4,000.00     $ 7,000.00
                              LCD COLOR ANALYZER CA110, MONITOR, CAMERA, INDUSTRIAL
                              PC, MONITORS, ASSOCIATED EQUIPMENT

    124       15126           CUSTOM TRACKING INSPECTION STATION COMPLETE W / MINOLTA   $2,500.00      $ 4,000.00     $ 7,000.00
                              LCD COLOR ANALYZER CA110, MONITOR, CAMERA, INDUSTRIAL
                              PC, MONITORS, ASSOCIATED EQUIPMENT

    125       15116           CUSTOM ASSEMBLY LINE (FRONT END #4) COMPLETE W/ THE       $  500.00      $ 1,000.00     $ 1,750.00
                              FOLLOWING:  WORK TABLES, POWER BELT CONVEYORS 24"
                              WIDTH, MANUAL ROLLER CONVEYORS, PNEUMATIC PRESSURE
                              STATION, 36" LIVE ROLLER CONVEYOR LOOP, CONTROL
                              CONSOLE, MOTOR CONTROLS, ELEVATOR, PNEUMATIC LIFT
                              MECHANISM, ASSOCIATED EQUIPMENT, (NOT IN SERVICE)

------------------------------------------------------------------------------------------------------------------------------------
                                   PAGE TOTAL                                           $ 7,000.00     $12,000.00     $20,750.00
------------------------------------------------------------------------------------------------------------------------------------

Page 25

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #       ID#                          DESCRIPTION                                     FLV                FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
ASSEMBLY AREA (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    126                MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT                $ 1,000.00         $ 1,750.00     $ 3,000.00
                       LIMITED TO: WORK TABLES, PALLET JACKS, METRO STYLE
                       STORAGE SHELVES, PRESSURE POTS, CABINETS, RCA PURITY
                       DEVICE ROD-2S

------------------------------------------------------------------------------------------------------------------------------------
FINISHING  AREA
------------------------------------------------------------------------------------------------------------------------------------
    127       15127    LARGE CABINET FINISHING LINE (LINE #1) COMPLETE W / THE          $20,000.00         $35,000.00    $ 70,000.00
                       FOLLOWING COMPONENTS:  (4) VENTILATION SPRAY BOOTHS,
                       (11) STAINLESS STEEL PRESSURE SPRAY CYLINDERS W/ SPRAY
                       GUNS, APPROXIMATELY (1500) LINEAR FEET OF CARRIER
                       CONVEYORS,  GRACO PUMPS, BLOWERS, PANELS, COUNTER
                       BALANCE, (3) CUSTOM 190 DEGREES F. PASS-THROUGH DRYING
                       OVENS, MOTOR CONTROLS, ASSOCIATED EQUIPMENT

    128       15132    LARGE CABINET FINISHING LINE (LINE #4) COMPLETE W/ THE           $15,000.00         $25,000.00    $ 50,000.00
                       FOLLOWING COMPONENTS:  BLOWERS, PANELS, (5) VENTILATED
                       SPRAY BOOTHS, GRACO PUMPS, APPROXIMATELY (6) STAINLESS
                       STEEL PRESSURE SPRAY CYLINDERS W/ SPRAY GUNS,
                       APPROXIMATELY (1500) LINEAR FEET OF CARRIER TYPE
                       CONVEYOR (4) CUSTOM 190 DEGREES F. PASS-THROUGH DRYING
                       OVENS, MOTOR CONTROLS, ASSOCIATED EQUIPMENT, (NOT IN
                       SERVICE)

------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                       $36,000.00         $61,750.00    $123,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 26

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #       ID#                          DESCRIPTION                                     FLV                FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
FINISHING AREA (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    129       15128        MARKEM PAD PRINTER MODEL #596 W/ TOUCH PAD CONTROL,          $10,000.00        $ 14,000.00    $ 16,500.00
                           PORTABLE CART, ASSOCIATED EQUIPMENT, S/N 968327

    130       15131        MARKEM PAD PRINTER MODEL #596 W/ TOUCH PAD CONTROL,          $10,000.00        $ 14,000.00    $ 16,500.00
                           PORTABLE CART, ASSOCIATED EQUIPMENT, S/N 968326

    131       15142        MARKEM PAD PRINTER MODEL #596 W/ TOUCH PAD CONTROL,          $10,000.00        $ 14,000.00    $ 16,500.00
                           PORTABLE CART, ASSOCIATED EQUIPMENT, S/N 968099

    132       15143        MARKEM PAD PRINTER MODEL #596 W/ TOUCH PAD CONTROL,          $10,000.00        $ 14,000.00    $ 16,500.00
                           PORTABLE CART, ASSOCIATED EQUIPMENT, S/N N/A

    133       15144        MARKEM PAD PRINTER MODEL #596 W/ TOUCH PAD CONTROL,          $10,000.00        $ 14,000.00    $ 16,500.00
                           PORTABLE CART, ASSOCIATED EQUIPMENT, S/N 968198

    134       15136        TAMPO PRINT PAD PRINTER MODEL #TT/TS - 80/100/41 W /         $ 8,500.00        $ 10,500.00    $ 13,000.00
                           CONTROL CONSOLE, ASSOCIATED EQUIPMENT, UNIT #7, S/N
                           181224, (1994)

    135       15137        TAMPO PRINT PAD PRINTER MODEL #TT/TS - 80/100/41 W /         $ 8,500.00        $ 10,500.00    $ 13,000.00
                           CONTROL CONSOLE, ASSOCIATED EQUIPMENT, UNIT #N/A, S/N
                           181225, (1994)

    136       15129        TAMPO PRINT HERMETIC 90 ORIGINAL PAD PRINTER W /             $ 7,000.00        $ 10,000.00    $ 12,500.00
                           CONTROL CONSOLE, ASSOCIATED EQUIPMENT, UNIT #2,  S/N
                           H-1344, (1994)

------------------------------------------------------------------------------------------------------------------------------------
                           PAGE TOTAL                                                   $74,000.00        $101,000.00    $121,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 27

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #       ID#                          DESCRIPTION                                     FLV                FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
FINISHING (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    137       15130    TAMPO PRINT HERMETIC 90 ORIGINAL PAD PRINTER W/ CONTROL          $ 6,500.00         $ 9,500.00    $12,000.00
                       CONSOLE, ASSOCIATED EQUIPMENT, UNIT #N/A,  S/N H-504,
                       (1992)

    138       15135    TAMPO PRINT HERMETIC 90 ORIGINAL PAD PRINTER W /                 $ 6,500.00         $ 9,500.00    $12,000.00
                       CONTROL CONSOLE, ASSOCIATED EQUIPMENT, UNIT #5,  S/N
                       H-1442, (1992)

    139       15139    TAMPO PRINT HERMETIC 90 ORIGINAL PAD PRINTER W/ CONTROL          $ 7,000.00         $10,000.00    $12,500.00
                       CONSOLE, ASSOCIATED EQUIPMENT, UNIT #8,  S/N H-1439,
                       (1994)

    140       15138    TAMPO PRINT HERMETIC 90 ORIGINAL PAD PRINTER W/ CONTROL          $ 7,000.00         $10,000.00    $12,500.00
                       CONSOLE, ASSOCIATED EQUIPMENT, UNIT #4,  S/N H-1445,
                       (1994)

    141       15141    TAMPO PRINT HERMETIC 90 ORIGINAL PAD PRINTER W /                 $ 6,750.00         $ 9,750.00    $12,250.00
                       CONTROL CONSOLE, ASSOCIATED EQUIPMENT, UNIT #3,  S/N
                       H-855, (1993)

    142       15134    TAMPO PRINT HERMETIC 61 ORIGINAL PAD PRINTER W /                 $ 6,000.00         $ 7,500.00    $10,000.00
                       CONTROL CONSOLE, ASSOCIATED EQUIPMENT, UNIT #9,  S/N
                       H-1506, (1994)

    143       15140    TAMPO PRINT HERMETIC 61 ORIGINAL PAD PRINTER W /                 $ 6,000.00         $ 7,500.00    $10,000.00
                       CONTROL CONSOLE, ASSOCIATED EQUIPMENT, UNIT #N/A,  S/N
                       H-1425, (1994)

------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                       $45,750.00         $63,750.00    $81,250.00
------------------------------------------------------------------------------------------------------------------------------------

Page 28

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #       ID#                          DESCRIPTION                                     FLV                FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
FINISHING (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    144       15133    LARGE CABINET FINISHING LINE COMPLETE W / THE FOLLOWING          $20,000.00         $40,000.00   $ 75,000.00
                       COMPONENTS:  (5) VENTILATED SPRAY BOOTHS, 30" POWER
                       BELT CONVEYOR, (13) STAINLESS STEEL SPRAY CYLINDERS,
                       RINSE STATION, PASS-THROUGH DRYING OVENS, CONTROL
                       CONSOLES, FIXTURES, ASSOCIATED EQUIPMENT

    145       15145    KOCH CONVEYOR PASS-THROUGH HV INFRARED DRYING OVEN               $ 5,000.00         $ 8,500.00   $ 12,000.00
                       MODEL #HV/IR DRYER W / BELT CONVEYOR, CONTROL CONSOLE,
                       ASSOCIATED EQUIPMENT, S/N 934-1505

    146                MISCELLANEOUS  FINISHING SUPPORT EQUIPMENT INCLUDING             $ 1,500.00         $ 2,000.00   $  2,500.00
                       BUT NOT LIMITED TO:  METRO STYLE STORAGE SHELVES,
                       MANUAL ROLLER CONVEYORS, CABINETS, WASTE BASKETS,
                       BARREL CARTS, SPARE PARTS, PALLET JACKS, FANS

    147       15146    CUSTOM BUILT SPRAY BOOTH W / VENTILATION STAINLESS               $   750.00         $ 1,200.00   $  2,000.00
                       STEEL PRESSURE CYLINDERS, WORK LIGHT METERS, ASSOCIATED
                       EQUIPMENT

------------------------------------------------------------------------------------------------------------------------------------
PATTERN SHOP
------------------------------------------------------------------------------------------------------------------------------------
    148       16000    ONSRUD ROUTER, MODEL #4955-D6, S/N E2 TABLE 5' LENGTH,           $ 4,000.00         $ 4,500.00   $  5,000.00
                       2' THROAT

    149       16001    BUSS MODEL #1H, S/N 6811, SIZE 24"  WIDTH X 8' LENGTH            $ 3,000.00         $ 3,500.00   $  4,500.00
                       PLANER W/ DUST COLLECTION ATTACHMENT

------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                       $34,250.00         $59,700.00   $101,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 29

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #       ID#                          DESCRIPTION                                     FLV                FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
PATTERN SHOP (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    150       16002     DEWALT RADIAL ARM SAW, MODEL  #GE-57, S/N 82576, TABLE          $ 1,000.00         $ 1,250.00    $ 1,500.00
                        9' LENGTH X 3' WIDTH

    151       16003     PORTER WOOD SHAPER, MODEL #300-C, S/N N/A                       $ 3,000.00         $ 3,500.00    $ 4,000.00

    152       16004     ONSRUD ROUTER, MODEL #4955-D6, S/N F-6, PROP #3355,             $ 4,000.00         $ 4,500.00    $ 5,000.00
                        TABLE 5' LENGTH, 2' THROAT

    153       16005     WOOD WORKING PRESS, A/N 2244-81, (3) INDEPENDENT                $ 5,000.00         $ 6,000.00    $ 7,000.00
                        PRESSES W/ WORK AREAS, 2 X 4 OUT , 2 X 2 IN

    154       16006     WARNER & TURNER RADIAL ARM DRILL PRESS,  S/N 17-0376 W/         $   300.00         $   400.00    $   500.00
                        STEEL WORK BENCH

    155       16007     DELTA RADIAL ARM DRILL PRESS, MODEL #15-126, S/N                $   300.00         $   400.00    $   500.00
                        9488-3501 W/ STEEL WORK BENCH

    156       16008     WYSONG HORIZONTAL ENDLESS BELT SANDER, MODEL #604, S/N          $ 2,000.00         $ 2,250.00    $ 2,500.00
                        N/A, PROP #3398

    157       16009     WYSONG HORIZONTAL ENDLESS BELT SANDER, MODEL #604, S/N          $ 2,000.00         $ 2,250.00    $ 2,500.00
                        EOS1-261, PROP #3331, 5' TABLE LENGTH

    158       16010     TANNEWITZ VERTICAL BAND SAW, MODEL #GH, S/N 15463, 36"          $ 3,500.00         $ 4,000.00    $ 4,500.00
                        THROAT, PROP #3397

    159       16011     WHITNEY #91 DUAL HEAD ROUTER, MODEL #91, S/N 17453,             $ 3,000.00         $ 3,500.00    $ 4,000.00
                        PROP #3204, W/ DUST COLLECTION ATTACHMENT

------------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                      $24,100.00         $28,050.00    $32,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 30

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
CIUDAD JUAREZ, MX PLANT #43

April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                                FLV                FMV                FMVIP
------------------------------------------------------------------------------------------------------------------------------------
PATTERN SHOP (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
  160    16012    TANNEWITZ SAW, MODEL #XJ,  S/N 74123, 6'                         $ 2,000.00         $ 2,500.00          $ 3,000.00
                  CAPACITY / THROAT

  161    16013    TANNEWITZ SAW, MODEL #U, S/N 10589, 6' TABLE CAPACITY /          $ 2,000.00         $ 2,500.00          $ 3,000.00
                  THROAT

  162    16014    TANNEWITZ VERTICAL BAND SAW, MODEL #JH, S/N 74145                $ 3,000.00         $ 3,500.00          $ 4,000.00

  163             MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT                $ 8,000.00         $10,000.00          $14,000.00
                  LIMITED TO:  VARIOUS HAND TOOLS, 2 DOOR METAL LOCKERS,
                  IMPULSE SEALERS, DRILLS, POWER TOOLS, STAPLES, TORQUE
                  TESTERS, DRIVE TOOLS, BAND SAW BLADES, NAIL GUNS, SPRAY
                  GUNS, PARTS BIN, RINGS, VALVES, BUSHINGS, MEGO-METER,
                  HITACHI CIRCULAR SAW, DOUBLE END GRINDER, BENCH VISES,
                  WORK TABLES, T CLAMPS, WET / DRY VACS, ASSORTED BOLTS &
                  SCREWS, DRILL BITS, METAL DESKS, SWIVEL CHAIRS, (3) 486
                  PERSONAL COMPUTERS, EPSON LX-810
                  PRINTER, WET / DRY VACS, TRANS TECH EXPOSURE UNIT, TAP
                  & DIE SET, PALLET JACK, HORIZONTAL BAND SAW, COMPUTER
                  WORK STATION, REFRIGERATOR, MICROWAVE, WORK TABLES,
                  CLAMPS, PALLET RACKING, LADDERS, AMETEK PROTECTIVE
                  COATING UNIT, BALANCE AIR 350 LB. CAPACITY W / VACUUM
                  SUCTION CUPS, BANDING CART

------------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                       $15,000.00         $18,500.00          $24,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 31

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
CIUDAD JUAREZ, MX PLANT #43

April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                                FLV                FMV                FMVIP
------------------------------------------------------------------------------------------------------------------------------------
MAINTENANCE SHOP
------------------------------------------------------------------------------------------------------------------------------------
  164             MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT                $ 8,000.00         $10,000.00          $12,000.00
                  LIMITED TO:  METAL SHELVING, WIRE REELS, METRO CARTS,
                  SUPPLY CAGE INCLUDING: CLAMPS, NUTS, BOLTS, ASSORTED
                  SUPPLIES, BUSHINGS, BELTS, MOTORS, PUMPS, POWERMATIC
                  DRILL PRESS, WALKER TURNER DRILL PRESS, DOUBLE END
                  GRINDER, HAND TOOLS, WET / DRY VACS, HAND TRUCKS,
                  FLAMMABLE STORAGE CABINET, PAINTING CYLINDERS, (2)
                  GATEWAY 2000 4DX-33 PC, (3) 486 PERSONAL COMPUTERS,
                  WOODEN & METAL DESKS, WOODEN BOOKCASE, WOODEN FILING
                  CABINET

------------------------------------------------------------------------------------------------------------------------------------
CHILLER ROOM
------------------------------------------------------------------------------------------------------------------------------------
  165    15215    AEC CHILLER, MODEL #S/60, S/N 908370, 20 HP                      $ 2,000.00         $ 3,250.00          $ 5,000.00

  166    15216    AEC CHILLER, MODEL #S/60, S/N N/A, 20 HP                         $ 2,000.00         $ 3,250.00          $ 5,000.00

  167    15217    AEC CHILLER, MODEL #S/60, S/N N/A, 20 HP                         $ 2,000.00         $ 3,250.00          $ 5,000.00

  168    15218    AEC WATER TOWER, (3) PUMPS, STEEL CONTAINER                      $ 1,500.00         $ 2,000.00          $ 4,000.00

  169    15219    AEC WATER TOWER, (2) PUMPS, STEEL CONTAINER                      $ 1,000.00         $ 1,500.00          $ 3,000.00

------------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                       $16,500.00         $23,250.00          $34,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 32

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
CIUDAD JUAREZ, MX PLANT #43

April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                                FLV                FMV                FMVIP
------------------------------------------------------------------------------------------------------------------------------------
PLASTICS
------------------------------------------------------------------------------------------------------------------------------------
  170    16015    CINCINNATI 3000 TON INJECTION MOLDING MACHINE, MODEL            $750,000.00      $1,000,000.00       $1,150,000.00
                  #VL-3000-540, S/N H26A0194012, 460 VOLTS, 3 PHASE, 60
                  HZ, AEC VACUUM FEEDER HOPPER, HYDRAULIC RAM W/
                  CINCINNATI CAMAC VEL CNC CONTROLS, 101" WIDTH, 2175
                  PSI-MAX INJECTION PRESSURE, ASSOCIATED EQUIPMENT

  171    16016    AEC TEMPERATURE CONTROL UNIT W / DIGITAL TEMPERATURE            $    500.00      $      700.00       $    1,000.00
                  CONTROLS, MODEL #TDWF7MO957, (-45 TO 250 DEGREES F)
                  TEMP RANGE, S/N 95A5421

  172    16017    AEC TEMPERATURE CONTROL UNIT W / DIGITAL TEMPERATURE            $    500.00      $      700.00       $    1,000.00
                  CONTROLS, MODEL #TDWF7MO957, (-45 TO 250 DEGREES F)
                  TEMP RANGE, S/N 95A2423

  173    16019    KONA HOT-RUNNER CONTROLS, 12 ZONE, S/N N/A                      $  2,000.00      $    2,500.00       $    3,000.00

  174    16020    KONA HOT-RUNNER CONTROLS, 12 ZONE, S/N N/A                      $  2,000.00      $    2,500.00       $    3,000.00

  175    16021    AEC PICK & PLACE ROBOT, MODEL TITAN II-2000, S/N                $ 35,000.00      $   45,000.00       $   55,000.00
                  95A9094, 460 VOLTS, 3 PHASE, 60 HZ, W / ALLEN BRADLEY
                  TOUCH PAD CONTROLS, 4400 LB. CAP.

  176    16022    AEC PICK & PLACE ROBOT, MODEL #EL-1650, S/N 95A9095,            $ 20,000.00      $   25,000.00       $   30,000.00
                  460 VOLTS, 3 PHASE, 60 HZ, W/ ALLEN BRADLEY TOUCH PAD
                  CONTROLS, 1800 LB. CAP.

------------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                      $810,000.00      $1,076,400.00       $1,243,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 33

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
CIUDAD JUAREZ, MX PLANT #43

April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                                FLV                FMV                FMVIP
------------------------------------------------------------------------------------------------------------------------------------
PLASTICS (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
  177    16023    CINCINNATI 1500 TON INJECTION MOLDING MACHINE, MODEL            $450,000.00        $600,000.00         $700,000.00
                  #VL-1500-232, S/N H23A0194019, 460 VOLT, 3 PHASE 60 HZ,
                  HYDRAULIC RAM, W/ CINCINNATI CAMAC VEL CNC CONTROLS,
                  AEC VACUUM FEEDER / HOPPER, 96" LENGTH, 72" BETWEEN TIE
                  BARS, ASSOCIATED EQUIPMENT

  178    16024    AEC TEMPERATURE CONTROL UNITS W/ DIGITAL DISPLAY, MODEL         $    750.00        $  1,250.00         $  1,750.00
                  #TDWFM0954, S/N 95A5420

  179    16025    AEC TEMPERATURE CONTROL UNITS W/ DIGITAL DISPLAY, MODEL         $    750.00        $  1,250.00         $  1,750.00
                  #TDWFM0954, S/N N/A

  180    16026    KONA HOT-RUNNER CONTROLS, 12 ZONES, MODEL #MF-12-CV,            $  3,000.00        $  3,500.00         $  4,000.00
                  S/N N/A

  181    16027    KONA HOT-RUNNER CONTROLS, 12 ZONES, MODEL #MF-12-CV,            $  3,000.00        $  3,500.00         $  4,000.00
                  S/N N/A

  182    16028    VAN DORN 700 TON INJECTION MOLDING MACHINE, MODEL               $ 80,000.00        $ 95,000.00         $115,000.00
                  #700T-6002, S/N 3850A01/94-16 R94, W / CINCINNATI PCX
                  CONTROLS, W/ SPIRAL HOPPER / AEC VACUUM FEEDER,
                  HYDRAULIC RAM, 42" LENGTH, 45" DISTANCE BETWEEN
                  TIEBARS, (REBUILT IN 1994), ASSOCIATED EQUIPMENT

  183    16029    AEC TEMPERATURE CONTROL UNITS, MODEL #TDWF7M0954, S/N           $    750.00        $  1,250.00         $  1,750.00
                  95A5422 (-45 TO 250 DEGREES F.)

  184    16030    AEC TEMPERATURE CONTROL UNITS, MODEL #TDWF7M0954, S/N           $    750.00        $  1,250.00         $  1,750.00
                  N/A, (-45 TO 250 DEGREES F.)

------------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                      $539,000.00        $707,000.00         $830,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 34

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
CIUDAD JUAREZ, MX PLANT #43

April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                                FLV                FMV                FMVIP
------------------------------------------------------------------------------------------------------------------------------------
PLASTICS (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
  185    16031    DEMAG 20 TON BRIDGE CRANE W/ PENDANT CONTROLS                    $15,000.00         $20,000.00          $30,000.00

  186             MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT                $ 2,000.00         $ 2,500.00          $ 3,000.00
                  LIMITED TO:  PALLET JACKS, LOCKERS, WORK TABLE, HOT
                  RUNNER CONTROLS, BENCH VISE, DIE LIFT TABLES, METAL
                  RACKING, VARIOUS LIFTS, TOOLS

------------------------------------------------------------------------------------------------------------------------------------
PLASTICS MODEL SHOP
------------------------------------------------------------------------------------------------------------------------------------
  187    16033    WILTON VERTICAL BAND SAW 20" THROAT W / SAW BLADE                $ 1,250.00         $ 1,600.00          $ 2,000.00
                  WELDING ATTACHMENT

  188    16034    WILTON RADIAL ARM DRILL, MODEL #521-2301, S/N 12721, W           $ 7,000.00         $ 9,000.00          $12,000.00
                  / SPEED CONTROLS, 28" THROAT

  189    16035    HARIG SURFACE GRINDER, S/N B-8864-W, MODEL #618 BALLWAY          $ 8,000.00         $10,000.00          $13,000.00
                  6" X 18" WALKER CERAMAX PERMANENT MAGNETIC CHUCK, W/
                  ACCURITE DRO

  190    16036    HARIG SURFACE GRINDER, S/N 8836-W, MODEL #618  6" X 18"          $ 5,000.00         $ 8,000.00          $10,000.00
                  WALKER CERAMAX PERMANENT MAGNETIC CHUCK

  191    16037    MCENGLEVAN INDUSTRIAL OVEN, MODEL #HTE812, S/N 139,              $ 1,000.00         $ 2,000.00          $ 2,500.00
                  TEMP RANGE 100 TO 2200 DEGREES F., W/ HONEYWELL TEMP
                  INDICATOR

  192    16038    WILTON HORIZONTAL BAND SAW, MODEL #7010, S/N 4081123             $   500.00         $   600.00          $   700.00

------------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                       $39,750.00         $53,700.00          $73,200.00
------------------------------------------------------------------------------------------------------------------------------------

Page 35

GREENWHICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CUIDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM#  ID#                              DESCRIPTION                                         FLV              FMV             FMVIP
------------------------------------------------------------------------------------------------------------------------------------
PLASTICS MODEL SHOP (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    193       16039    MILLER SYNCROWAVE 250 PORTABLE AC / DC ARC WELDER                $   750.00         $ 1,000.00    $ 1,250.00

    194       16040    BRIDGEPORT / ROMI 18" SWING, 54" CC ENGINE LATHE, MODEL          $14,000.00         $16,000.00    $20,000.00
                       TORMAX 16-5 W/ ALORIS TOOLPOST, TAILSTOCK, ACU-RITE
                       DRO,  3 JAW CHUCK

    195       16041    OKAMOTO DIE SINKER/EDM, MODEL OK-20-16, S/N 728 3 AXIS,          $30,000.00         $35,000.00    $40,000.00
                       OKAMOTO CONTROLS, W / POWER SUPPLY, PERMANENT MAGNETIC
                       CHUCK, SERVO JOG, 16" X 25" X 48" CHAMBER, FLEET #185

    196       16042    BRIDGEPORT CNC VERTICAL MILLING MACHINE, S/N 268186, 2           $ 9,000.00         $11,000.00    $13,000.00
                       HP, 9" X 48" TABLE, POWER FEED, MILL VISION / ACCURITE
                       CNC CONTROLS

    197                MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT                $ 5,000.00         $ 7,000.00    $ 9,000.00
                       LIMITED TO:  LOCKERS, WELDING SUPPLIES, DIE SETS,
                       METALWORK TABLES, BENCH VISES, ARBOR PRESS, DOUBLE
                       GRINDER, SINE PLATES, YUASA ANGLE RADIUS DRESSER,
                       END MITUTOYO  MICROMETER SETS, (3) JAW CHUCK,
                       CALIPERS, PRECISION HAND GRINDER, METAL CARTS,
                       MITUTOYO 18" HEIGHT GAUGE, PALLET RACKING, SPARE PARTS,
                       BELTS & HOSES, ACETYLENE TORCH CART, TEMPERATURE CONTROL
                       UNITS, FLUID DISPENSING CART,  DUST COLLECTORS, AEC CHILLER,
                       WELDING TABLE, GRANITE SURFACE PLATE
------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                       $58,750.00         $70,000.00    $83,250.00
------------------------------------------------------------------------------------------------------------------------------------

Page 36

GREENWHICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CUIDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM#  ID#                              DESCRIPTION                                    FLV                FMV           FMVIP
------------------------------------------------------------------------------------------------------------------------------------
PLASTICS MODEL SHOP (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    198       16043     TANNEWITZ VERTICAL BAND SAW, MODEL GH, S/N 13275, PROP     $ 2,000.00        $  2,400.00   $  2,750.00
                        # 3366, 36" THROAT

    199       16044     NELMOR PLASTIC MATERIAL GRANULATOR W/VACUUM DISPENSING     $40,000.00        $ 47,500.00   $ 55,000.00
                        UNIT, DRIVE MOTORS, ASSOCIATED EQUIPMENT, C513
                        APPROXIMATELY 75 HP

    200       10645     AEC VACUUM MATERIAL FEEDER, METAL FRAME CONSTRUCTION,      $30,000.00        $ 45,000.00   $ 80,000.00
                        SPENCER BLOWER UNIT, AEC CONTROLS, VAC TRAC SERIES,
                        DIGITAL TOUCHPAD UNIT

    200       10646     POLYMER PORTABLE MATERIAL SCRAP GRANULATOR, S/N            $ 4,000.00        $  5,000.00   $  6,000.00
                        112011761

    201       15220     (2) STEEL BOLTED CONSTRUCTION, AGGREGATE STORAGE SILOS     $20,000.00        $ 30,000.00   $ 50,000.00
                        COMPLETE W/VACUUM FEEDERS, PIPING, METERS, ASSOCIATED
                        EQUIPMENT
------------------------------------------------------------------------------------------------------------------------------------
PLASTIC OFFICE
------------------------------------------------------------------------------------------------------------------------------------

    202                 MISCELLANEOUS OFFICE EQUIPMENT INCLUDING BUT NOT           $ 2,500.00        $  4,000.00   $  5,000.00
                        LIMITED TO:  GATEWAY 2000 4DX-33 PC W/15" VGA MONITOR,
                        SWIVEL CHAIRS, SIDE CHAIRS, METAL DESKS, BOOKCASES,
                        FILING CABINETS, FORMICA TOP, GATEWAY 2000 4DX2-66
                        W/14" COLOR MONITOR, WOODEN DESK, 486 PERSONAL
                        COMPUTER, MONITOR, LOCKERS
-----------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                 $98,500.00        $133,900.00   $198,750.00
-----------------------------------------------------------------------------------------------------------------------------------

Page 37

GREENWHICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CUIDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM#  ID#                              DESCRIPTION                                      FLV                FMV           FMVIP
------------------------------------------------------------------------------------------------------------------------------------
WAREHOUSE
------------------------------------------------------------------------------------------------------------------------------------
    203                 MISCELLANEOUS EQUIPMENT IN STORAGE INCLUDING BUT NOT          $30,000.00         $40,000.00    $50,000.00
                        LIMITED TO:  MOTORS, CHAINS, LIFTERS, WORK TABLES,
                        (DISASSEMBLED ASSEMBLY LINES) CONVEYOR LINES, LAMPS,
                        TRANSFER/DIVERTERS/90 DEGREE TURNS, PALLET JACKS,
                        PALLET TRANSFER CARTS, 13 SECTIONS OF 20' X 13'  HEAVY
                        DUTY PALLET RACKING, WORK STATIONS, TABLE SAWS, EDGE
                        SHAPER, EDGE LAMINATOR, WORK FIXTURES, BLOWERS

    204       15221     TIME-SAVER SPEED BELT SANDER W/CONTROL CONSOLE,               $ 6,000.00         $ 8,000.00    $10,000.00
                        ASSOCIATED EQUIPMENT (NOT IN SERVICE)

    205       16047     ONSRUD ROUTER, MODEL 2436-40, S/N 958043-01 (NOT IN           $ 2,000.00         $ 2,500.00    $ 3,000.00
                        SERVICE)

    206       16048     INDUSTRIAL ROUTER, MODEL AND S/N N/A (NOT IN SERVICE)         $ 1,500.00         $ 2,000.00    $ 2,500.00

    207       16049     PORTER #622 ROUTER MODEL 622, S/N 3801, PROP # 3263           $ 2,000.00         $ 2,750.00    $ 3,500.00
                        (NOT IN SERVICE)

    208       16051     OAKLEY ENDLESS HORIZONTAL BELT SANDER, 8" BELT, MODEL         $ 2,000.00         $ 2,500.00    $ 3,000.00
                        H5, S/N 3130, 5' TABLE LENGTH (NOT IN SERVICE)

    209       16052     RYE TWIN HEAD RADIAL ARM ROUTER, MODEL R-80, S/N 752,         $ 5,000.00         $ 6,000.00    $ 7,000.00
                        68" ROTARY FACEPLATE (NOT IN SERVICE)

    210       16053     RYE TWIN HEAD RADIAL ARM ROUTER, MODEL R-80, S/N 828,         $ 5,000.00         $ 6,000.00    $ 7,000.00
                        68" ROTARY FACEPLATE (NOT IN SERVICE)
------------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                    $53,500.00         $69,750.00    $86,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 38

GREENWHICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CUIDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM#  ID#                              DESCRIPTION                                      FLV                FMV           FMVIP
------------------------------------------------------------------------------------------------------------------------------------
MISCELLANEOUS WAREHOUSE (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    211       16054     1993 BIESSE AUTOMATIC DOWEL INSERTER WOODWORKING              $35,000.00         $40,000.00    $45,000.00
                        MACHINERY, MODEL TECHNO SVBL/J, S/N 9310871, W/ADJ.
                        TABLE, VIBRATORY FEEDER, ASSOCIATED EQUIPMENT (NOT IN
                        SERVICE)

------------------------------------------------------------------------------------------------------------------------------------
IQC AREA (INCOMING QUALITY CONTROL)
------------------------------------------------------------------------------------------------------------------------------------
    212                 MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:         $ 6,000.00         $ 8,000.00    $10,000.00
                        SHEN TSAI VERTICAL WOOD CUTTER, MODEL KL-W569, 1/2 HP,
                        S/N 80168, FLAMMABLE STORAGE CABINETS, WORK TABLES,
                        HIPOT TESTER, PORTABLE DIE LIFT TABLES, CUSTOM
                        FABRICATED TEST  EQUIPMENT, MICROWAVE, BK VIDEO DISPLAY
                        TESTER, IMPEDANCE BRIDGE TESTER MODEL 1650-B, WILSON
                        TESTER, CANON PC PRINTER 80, LEADER PATTERN
                        GENERATOR MODEL LCG 396NTSC, GENIE 800 LB. MATERIAL
                        LIFTER, TENMA POWER SUPPLIES,  DEGAUSSING MACHINE, HELM
                        HOLTZ MAGNETIC CHAMBER, RCA PURITY DEVICE ROD-25,
                        PRO-CLEAN BOOTH, GANTRY STYLE CRANE LIFT
                        W/MODULE AIR 300 LB. CAPACITY, HOT PLATES, METAL
                        METAL DESKS, MITUTOYO MICROMETERS, CALIPERS, K
                        LOCKERS & E MICROFICHE READER 486 PERSONAL COMPUTER, METAL
                        DESKS, CHAIRS

    213       16055     CUSTOM DESIGNED HYDRAULIC PRESS (FOR CRT HOUSING) W/          $   500.00         $   700.00    $ 1,000.00
                        COMPUTER CONTROLS
------------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                    $41,500.00         $48,700.00    $56,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 39

GREENWHICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CUIDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM#  ID#                              DESCRIPTION                                      FLV              FMV           FMVIP
------------------------------------------------------------------------------------------------------------------------------------
IQC AREA (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    214       16056    BLUE-M ELECTRIC OVEN                                             $  500.00        $  700.00      $ 1,000.00

    215       16057    DILLON PRECISION TENSILE TESTING MACHINE W/ BOSTON GEAR          $  500.00        $  700.00      $ 1,000.00
                       MOTOR CONTROLS, DILLON MODEL #W1-120D, S/N 4579 CONTROLS
------------------------------------------------------------------------------------------------------------------------------------
SALVAGE AREA
------------------------------------------------------------------------------------------------------------------------------------
    216                MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:            $2,000.00        $2,500.00      $ 3,000.00
                       APPROXIMATELY (26) SECTIONS OF 12' X 8' HIGH, 6' LENGTH
                       PALLET RACKING, METRO CARTS, PALLET JACKS, WOODEN DESK,
                       FILING CABINET, SIDE CHAIR
------------------------------------------------------------------------------------------------------------------------------------
FLOOR MATERIALS OFFICE (RECEIVING)
------------------------------------------------------------------------------------------------------------------------------------
    217                (2) GATEWAY 2000 4DX2-50 PERSONAL COMPUTER, EPSON                $2,000.00        $2,500.00      $ 3,000.00
                       FX-1170 PRINTER, MICRO MART PERSONAL COMPUTER, HP
                       DESKJET 682C COLOR PRINTER, VGA & MONOCHROME MONITORS,
                       WOODEN DESKS, SWIVEL CHAIRS, SIDE CHAIRS
------------------------------------------------------------------------------------------------------------------------------------
WOODWORKING WAREHOUSE
------------------------------------------------------------------------------------------------------------------------------------
    218                 APPROXIMATELY (30) SECTIONS OF 15' HIGH X 13' LENGTH            $3,000.00        $3,500.00      $ 4,000.00
                        HEAVY DUTY PALLET RACKING, (20) SECTIONS OF 12' HEIGHT
                        X 8' LENGTH MEDIUM DUTY PALLET RACKING, ASSOCIATED
                        MATERIALS
------------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                      $8,000.00        $9,900.00      $12,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 40

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                                FLV                FMV                FMVIP
------------------------------------------------------------------------------------------------------------------------------------
IQC OFFICE
------------------------------------------------------------------------------------------------------------------------------------
    219                    MISCELLANEOUS OFFICE EQUIPMENT INCLUDING BUT NOT              $ 4,000.00        $ 5,000.00    $ 6,000.00
                           LIMITED TO:  (2) 486 PERSONAL COMPUTERS, HP DESKJET
                           870CXI COLOR PRINTER, (3) MICRO MART PERSONAL
                           COMPUTERS, OFFICE SUPPLIES, WOODEN BOOKCASE, INSPECTION
                           EQUIPMENT INCLUDING PIN GAUGES, MITUTOYO DIGIMATIC
                           INDICATOR, MINOLTA CAMERA LUMINANCE METER, WOODEN
                           DESKS, METAL DESKS, SWIVEL & SIDE CHAIRS, WOODEN /
                           GLASS BOOKCASE, FILING CABINETS, FAX MACHINE, HP
                           DESKJET 820CSE COLOR PRINTER

    220       16064        STARRET SIGMA 17" OPTICAL COMPARATOR, MODEL #HB400, S/N       $ 8,000.00        $10,000.00    $12,000.00
                           4687, W / QUADRA CHECK 2000 DRO, LENSES, LIGHT SOURCE

------------------------------------------------------------------------------------------------------------------------------------
MILLROOM OFFICE
------------------------------------------------------------------------------------------------------------------------------------

    221                    MISCELLANEOUS OFFICE EQUIPMENT INCLUDING BUT NOT              $ 7,000.00        $10,000.00    $12,000.00
                           LIMITED TO:  (2) GATEWAY 2000 MODEL 4DX-33 PERSONAL
                           COMPUTERS,  GATEWAY 2000 MODEL486/25C PERSONAL
                           COMPUTER, 486 PERSONAL COMPUTER, COMPAQ PRESARIO 7222
                           PERSONAL COMPUTER, MAGITRONIC
                           (cont'd on next page)

------------------------------------------------------------------------------------------------------------------------------------
                           PAGE TOTAL                                                    $19,000.00        $25,000.00    $30,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 41

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                                FLV                FMV                FMVIP
------------------------------------------------------------------------------------------------------------------------------------
MILLROOM OFFICE (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
                        (cont'd from previous page)
                        PERSONAL COMPUTER, GATEWAY 2000 MODEL 4DX2-66 PERSONAL
                        COMPUTER, (2) GATEWAY 2000 MODEL G6-180 PERSONAL
                        COMPUTER, HP DESKJET 682-C COLOR PRINTER, (2) GATEWAY
                        VIVITRON COLOR MONITORS 15", CANON COLOR BUBBLE JET
                        PRINTER BJC-4550, WOODEN DESKS, LOCKERS, CREDENZAS,
                        BOOKCASE, METAL DESKS, SWIVEL CHAIRS, SIDE CHAIRS,
                        IMPULSE SEALERS, TOOL KITS, HAMMERS, ABRASIVE POWER
                        TOOLS

------------------------------------------------------------------------------------------------------------------------------------
SUB ASSEMBLY CRT (PROJ)
------------------------------------------------------------------------------------------------------------------------------------

    222                 MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:          $2,500.00         $3,000.00       $ 3,500.00
                        (20) METRO CARTS, (3) HYTROL 10" POWER BELT CONVEYORS
                        15' LENGTH, INVENTORY CARTS

    223       16065     COMPLETE SUB ASSEMBLY LINE FOR PROJ. CRT'S, CLEAN ROOM         $4,000.00         $6,000.00       $ 8,000.00
                        INCLUDES: HEPA FILTERS, APPROXIMATELY (20) INDIVIDUAL
                        WORKSTATIONS W/ ERGONOMIC ARM, COMPRESSED AIR,
                        AUTOMATIC SCREW GUNS, SEALING STATION INCLUDING 18"
                        POWER BELT  CONVEYOR, GRACO PUMP, (3) INDIVIDUAL CUSTOM
                        FABRICATED TEST STATIONS, INCLUDING:  NOISE METER,
                        INDIVIDUAL PC'S, NOISE METER, (2) FLUID PUMPS W/
                        BACKTROL II DIGITAL CONTROLS, APPROXIMATELY 200 LINEAR
                        FEET OF CHAIN LINK CONVEYOR

------------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                     $6,500.00         $9,000.00       $11,500.00
------------------------------------------------------------------------------------------------------------------------------------

Page 42

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                                FLV                FMV           FMVIP
------------------------------------------------------------------------------------------------------------------------------------
FORKLIFTS
------------------------------------------------------------------------------------------------------------------------------------
    224       16071    YALE ELECTRIC FORKLIFT, 3,500 LB. CAPACITY, MODEL           $   750.00         $ 1,000.00     $ 1,250.00
                       ERC060FCN3650101, S/N N386965, PROP #5258

    225       16072    YALE ELECTRIC FORKLIFT, 3,500 LB. CAPACITY, MODEL           $   500.00         $   600.00     $   700.00
                       ERC060FCN3650101, S/N N386965, PROP # 5261

    226       16073    CATERPILLAR MC30 ELECTRIC FORKLIFT, S/N 41W02032P,          $   500.00         $   600.00     $   700.00
                       3,000 LB. CAPACITY

    227       10674    CROWN RIDE ON ELECTRIC NARROW AISLE FORKLIFT, 2,500 LB.     $ 1,000.00         $ 1,200.00     $ 1,500.00
                       CAPACITY, 165 HOURS, PROP #5273

    228       16075    YALE ELECTRIC FORKLIFT, S/N N/A, PROP #5263                 $   500.00         $   600.00     $   700.00

    229       16076    YALE ELECTRIC FORKLIFT, 3,500 LB. CAPACITY, MODEL           $   700.00         $   800.00     $   900.00
                       ERC060FCN3650101, S/N N386970, PROP #5264

    230       16077    CATERPILLAR ELECTRIC FORKLIFT (SCRAP CONDITION)             $   300.00         $   400.00     $   500.00

    231       16078    YALE LPG FORKLIFT 3,000 LB CAPACITY, MODEL                  $ 2,000.00         $ 2,500.00     $ 3,000.00
                       GLC-030-UAT-083-M, S/N P312935, SIDESHIFT, OROPS, 4,708
                       HOURS, PROP #5255

    232       16079    MULA 4 ELECTRIC TOW MOTOR                                   $   300.00         $   600.00     $   800.00

    233       16083    MULA 4 ELECTRIC TOW MOTOR                                   $   300.00         $   600.00     $   800.00

    234       16080    YALE ELECTRIC FORKLIFT, MODEL ERC030AON36SE083, S/N         $ 4,500.00         $ 5,000.00     $ 5,500.00
                       A808V04192T, SIDESHIFT, OROPS, PROP #5285
------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                  $11,350.00         $13,900.00     $16,350.00
------------------------------------------------------------------------------------------------------------------------------------

Page 43

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                                FLV                FMV                FMVIP
------------------------------------------------------------------------------------------------------------------------------------
FORKLIFTS (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    235       16081       BAKER ELECTRIC FORKLIFT W/ CLAMPING ATTACHMENT MODEL           $   600.00        $   800.00    $   900.00
                          #FTO-040, S/N M1831-4-5580 (POOR CONDITION)

    236       16082       YALE ELECTRIC FORKLIFT 4000 LB CAPACITY, MODEL                 $ 5,000.00        $ 5,500.00    $ 6,000.00
                          #ERC030AON365E083, HOURS / N/A, S/N A808V0488T,
                          SIDESHIFT, OROP, CLAMPING ATTACHMENT

    237       16084       YALE ELECTRIC FORKLIFT 5000 LB CAPACITY, MODEL                 $ 2,000.00        $ 2,500.00    $ 3,000.00
                          #ECR05CFCN365E083, S/N N440786, SIDESHIFT, OROP, PROP
                          #5269

    238       16085       WHITE ELECTRIC LPG FORKLIFT, OROP, SIDESHIFT, 5517             $ 1,000.00        $ 1,200.00    $ 1,500.00
                          HOURS, PROP #5249

    239       16086       CLARK LPG FORKLIFT 8250 LB CAPACITY MODEL #C500-5100,          $ 7,000.00        $ 9,000.00    $10,000.00
                          S/N 685-0095-7419KOF, OROP, SIDESHIFT,  TRIPLE MAST,
                          DUAL FRONT TIRES

    240       16087       YALE LPG FORKLIFT, (NOT IN SERVICE), PROP #5242                $   500.00        $   600.00    $   700.00

    241       16088       YALE LPG FORKLIFT, (NOT IN SERVICE), PROP #5212                $   700.00        $   900.00    $ 1,000.00

    242       16089       CLARK LPG FORKLIFT 4000 LB CAPACITY, MODEL                     $ 1,500.00        $ 2,000.00    $ 2,500.00
                          #CF-10-273-742-366, PROP #5222

    243       16090       CLARK ELECTRIC FORKLIFT, OROP, 1663 HOURS, PROP #79            $ 1,000.00        $ 1,200.00    $ 1,400.00

------------------------------------------------------------------------------------------------------------------------------------
                          PAGE TOTAL                                                     $19,300.00        $23,700.00    $27,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 44

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                                FLV                FMV                FMVIP
------------------------------------------------------------------------------------------------------------------------------------
FORKLIFTS (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    244       16091    YALE ELECTRIC FORKLIFT 3000 LB CAPACITY, MODEL                $   800.00        $ 1,000.00       $ 1,200.00
                       #ERC030BBN36SE083, S/N N451761, SIDESHIFT, OROP

    245       16106    YALE LPG FORKLIFT 3000 LB CAPACITY, SIDESHIFT, OROP,          $ 1,000.00        $ 1,200.00       $ 1,500.00
                       PROP #5218

    246       16032    YALE LPG FORKLIFT, 3000 LB CAPACITY, OROP, SIDESHIFT,         $ 2,500.00        $ 3,000.00       $ 3,500.00
                       MODEL #GLC-030-UAT-071, PROP #5226, S/N P312894

    247       16058    YALE ELECTRIC FORKLIFT MODEL #E, S/N 5021352-01,              $ 2,500.00        $ 3,000.00       $ 3,500.00
                       SIDESHIFT, OROP, ID#5283

    248       16059    YALE ELECTRIC FORKLIFT, MODEL #E, S/N N/A, NO                 $ 1,000.00        $ 1,250.00       $ 1,500.00
                       SIDESHIFT, OROP, PROP #5211

    249       16060    YALE LPG FORKLIFT TYPE G, S/N N/A SIDESHIFT, OROP, PROP       $ 3,000.00        $ 3,500.00       $ 4,000.00
                       #5206

    250       16061    YALE ELECTRIC FORKLIFT, S/N N/A , PROP #5215                  $   750.00        $ 1,000.00       $ 1,250.00

    251       16062    YALE LPG FORKLIFT S/N 550923, SIDESHIFT, OROP, 3354           $ 2,000.00        $ 2,500.00       $ 3,000.00
                       HOURS ON METER

    252       16063    YALE LPG FORKLIFT, S/N N/A, PROP #5205, SIDESHIFT, 9439       $ 1,500.00        $ 2,000.00       $ 2,500.00
                       HOURS

    253       16066    YALE LPG FORKLIFT, 3779 HOURS, PROP #5245, S/N P317604,       $ 2,500.00        $ 3,000.00       $ 3,500.00
                       SIDESHIFT, OROP

------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                    $17,550.00        $21,450.00       $25,450.00
------------------------------------------------------------------------------------------------------------------------------------

Page 45

GREENWHICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
CUIDAD JUAREZ, MX PLANT #43

April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------

ITEM#     ID#                       DESCRIPTION                                            FLV              FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------

FORKLIFTS (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------

    254       16067       YALE ELECTRIC FORKLIFT, 3000 LB CAP., MODEL                   $ 3,000.00       $3,500.00       $ 4,000.00
                          #ERC030BBN36SE083, S/N N449703, PROP #5294

    255       16068       YALE ELECTRIC FORKLIFT, 3000 LB CAP., MODEL                   $ 3,000.00       $3,500.00       $ 4,000.00
                          #ERC030AON36SE083, S/N A808V04191T, SIDESHIFT, OROP,
                          PROP #5288, 2151 HOURS

    256       16069       YALE LPG FORKLIFT S/N N/A, SIDESHIFT, OROP, 9506 HOURS,       $ 2,000.00      $ 2,500.00       $ 3,000.00
                          PROP #5202

    257       16070       YALE ELECTRIC FORKLIFT, 3000 LB CAP., MODEL                   $ 3,500.00      $ 4,000.00       $ 4,500.00
                          #ERC030AON36SE083, S/N K565897, W/ SIDESHIFT, OROP,
                          2965 HOURS, PROP #5282

    258       16143       YALE ELECTRIC FORKLIFT, 3000 LB CAP., MODEL                   $ 3,000.00      $ 3,500.00       $ 4,000.00
                          #ERC030ACN36SE083, S/N A808V04189T, PROP #5686, OROP,
                          SIDESHIFT

    259       16150       YALE ELECTRIC FORKLIFT 5000 LB CAP., MODEL                    $ 4,000.00      $ 4,500.00       $ 5,000.00
                          #ERC050FCN36SE083, S/N N441744, OROP, SIDESHIFT,
                          CLAMPING ATTACHMENT, PROP #5252

    260       16152       YALE ELECTRIC FORKLIFT, 4000 LB CAP., S/N A808V04190T,        $ 3,000.00      $ 3,500.00       $ 4,000.00
                          MODEL #ERC040ACN36SE083, 1908 HOURS, PROP #5290
------------------------------------------------------------------------------------------------------------------------------------

                          PAGE TOTAL                                                    $21,500.00      $25,000.00       $28,500.00
------------------------------------------------------------------------------------------------------------------------------------

Page 46

GREENWHICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
CUIDAD JUAREZ, MX PLANT #43

April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM#     ID#                       DESCRIPTION                                           FLV             FMV           FMVIP
------------------------------------------------------------------------------------------------------------------------------------
FORKLIFTS (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    261       16153       YALE ELECTRIC FORKLIFT, 4000 LB CAP.,                       $ 3,000.00      $ 3,500.00      $ 4,000.00
                          MODEL#ERC040ACN36SE083, S/N A808VO4185T, 1465 HOURS,
                          PROP #5293, CLAMPING ATTACHMENT

    262       16162       YALE ELECTRIC FORKLIFT, 3000 LB CAP., MODEL                 $ 3,000.00      $ 3,500.00      $ 4,000.00
                          #ERC030ACN36SE083, S/N K565899, OROP, SIDESHIFT, 2395
                          HOURS

    263       16163       YALE ELECTRIC FORKLIFT 5000 LB CAP., MODEL                  $ 3,000.00      $ 3,500.00      $ 4,000.00
                          #ERC050FCN36SE083, S/N N440755, OROP, SIDESHIFT,
                          CLAMPING ATTACHMENT, PROP #5251, 7406 HOURS

    264       16164       YALE ELECTRIC FORKLIFT, 4000 LB CAP., MODEL                 $ 3,000.00      $ 3,500.00      $ 4,000.00
                          #ERC040ACN36SE083, S/N A808VO4186T, 1613 HOURS, PROP
                          #5291, CLAMPING ATTACHMENT

    265       16165       YALE ELECTRIC FORKLIFT, S/N N/A, PROP #5207, HOURS N/A      $ 1,000.00      $ 1,500.00      $ 2,000.00

    266       16166       YALE ELECTRIC FORKLIFT, 3000 LB CAP., MODEL                 $ 1,500.00      $ 2,000.00      $ 2,500.00
                          #ERC030BBN36SE083, S/N N451763, PROP #5267, 2003 HOURS,
                          OROP, SIDESHIFT

    267       16168       YALE ELECTRIC FORKLIFT, 3000 LB CAPACITY, S/N               $ 1,500.00      $ 1,750.00      $ 2,000.00
                          A808V04193T, OROP, SIDESHIFT, 1978 HOURS, PROP #5289
------------------------------------------------------------------------------------------------------------------------------------
                          PAGE TOTAL                                                  $16,000.00      $19,250.00      $22,500.00
------------------------------------------------------------------------------------------------------------------------------------

Page 47

GREENWHICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
CUIDAD JUAREZ, MX PLANT #43

April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM#     ID#                       DESCRIPTION                                           FLV             FMV           FMVIP
------------------------------------------------------------------------------------------------------------------------------------
FORKLIFTS (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    268       16169     YALE LPG FORKLIFT, 9494 HOURS, OROP, SIDESHIFT                 $ 1,250.00      $ 1,500.00     $ 1,750.00

    269       22100     CATERPILLAR ELECTRIC FORKLIFT, 3000 LB CAPACITY, MODEL         $ 2,000.00      $ 2,500.00     $ 3,000.00
                        #EC15, S/N 3FM00970, 1802 HOURS ON METER W/ SIDESHIFT

    270       22101     CATERPILLAR ELECTRIC FORKLIFT, 3000 LB CAPACITY, MODEL         $ 2,000.00      $ 2,500.00     $ 3,000.00
                        #EC15, S/N 3FM00995, 3110 HOURS ON METER W/ SIDESHIFT

    271       22102     CATERPILLAR ELECTRIC FORKLIFT, 3000 LB CAPACITY, MODEL         $ 2,000.00      $ 2,500.00     $ 3,000.00
                        #EC15, S/N 3FM0968, 1968 HOURS ON METER W/ SIDESHIFT

    272       15101     CLARK LPG FORKLIFT TRUCK MODEL #C500-S100, 8000 LB             $ 9,000.00      $11,000.00     $14,000.00
                        CAPACITY W/ OROP, SOLID TIRES, SIDE SHIFT, TRIPLE MAST,
                        UNIT #5246, S/N 7419KOF

    273       15102     YALE ELECTRIC FORKLIFT MODEL #CRC030ACN36SE083, W/             $ 4,500.00      $ 5,000.00     $ 5,500.00
                        TRIPLE MAST, OROP, CUSHION TIRES, 3000 LB CAPACITY, S/N
                        A808V041941T

    274       15105     YALE ELECTRIC FORKLIFT MODEL #CRC030ACN36SE083, W/             $ 4,500.00      $ 5,000.00     $ 5,500.00
                        TRIPLE MAST, OROP, CUSHION TIRES, 3000 LB CAPACITY, S/N
                        N/A

    275       15103     CATERPILLAR FORKLIFT, MODEL #MC30, S/N 41W02107P, W/           $ 2,500.00      $ 3,000.00     $ 3,500.00
                        OROP,C691 SOLID TIRES, DUAL MAST, ASSOCIATED EQUIPMENT,
                        5188 HOURS, UNIT #5275
------------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                     $27,750.00      $33,000.00     $39,250.00
------------------------------------------------------------------------------------------------------------------------------------

Page 48

GREENWHICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
CUIDAD JUAREZ, MX PLANT #43

April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM#         ID#                   DESCRIPTION                                           FLV             FMV           FMVIP
------------------------------------------------------------------------------------------------------------------------------------
FORKLIFTS (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    276       15104     CLARK 3 WHEEL ELECTRIC FORKLIFT, MODEL #TM15 / OROP, 3         $ 5,000.00      $ 6,000.00     $ 7,000.00
                        SOLID TIRES, TRIPLE MAST SIDE SHIFT, S/N 2258-5280,
                        UNIT #78

    277                 MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:          $10,000.00      $15,000.00     $20,000.00
                        TRASH BINS, SCRAP CONDITION FORKLIFTS, PARTS
                        ACCESSORIES, BATTERY CHARGERS, METAL SHELVING, PARTS
                        BIN, DRILL PRESS, DOUBLE END GRINDER, APPROXIMATELY
                        (10) SECTIONS OF 20'  HEAVY DUTY PALLET RACKING, WORK
                        STATIONS, INVENTORY CARTS, PORTABLE STAIRCASE

------------------------------------------------------------------------------------------------------------------------------------
WAREHOUSE
------------------------------------------------------------------------------------------------------------------------------------

    278                 APPROXIMATELY (72) SECTIONS OF 20' X 12' HEAVY DUTY            $ 3,000.00      $ 4,000.00     $ 5,000.00
                        PALLET RACKING
------------------------------------------------------------------------------------------------------------------------------------
FRONT PROJECTION ASSEMBLY LINE (#5)
------------------------------------------------------------------------------------------------------------------------------------

    279       15210     FRONT PROJECTION ASSEMBLY LINE COMPLETE W/ CONVEYOR            $ 5,000.00      $10,000.00     $15,000.00
                        SYSTEM,  WORK STATIONS, PNEUMATIC TOOLS, CONVEYOR
                        CARRIERS, COUNTER BALANCES, HOISTS, INSPECTION
                        STATIONS, BURN-IN TEST MODULE

------------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                     $23,000.00       $35,000.00    $47,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 49

GREENWHICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
CUIDAD JUAREZ, MX PLANT #43

April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM# ID#                           DESCRIPTION                                           FLV             FMV           FMVIP
------------------------------------------------------------------------------------------------------------------------------------
FRONT PROJECTION ASSEMBLY LINE (#5) (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
 280          MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:                  $10,000.00       $15,000.00      $20,000.00
              PNEUMATIC PUMPS, STORAGE SHELVING, METRO CARTS, PALLET
              JACK, ABAL TAPE DISPENSING CASE SEALERS, IMPULSE HEAT
              SEALERS, HI-POT TESTER, POWER SUPPLIES, AUDIO GENERATORS,
              SOUND BOOTH ENCLOSURES, VCR'S,  WORK TABLES, CUSTOM DESIGNED
              TEST FIXTURES, PRESTO DIE LIFT TABLE, SURFACE TEST STATIONS,
              OSCILLOSCOPE, VIDEO CAMERAS, HIGH VOLTAGE SHUT- DOWN TESTERS,
              HYTROL BELT CONVEYOR, FLUID DISPENSERS, PRESSURE CYLINDERS

 281  15211   PROJECTION INSPECTION STATION COMPLETE W / FIXTURE                     $ 2,000.00       $ 2,750.00      $ 3,500.00
              QUANTUM DATA, IMAGER 8701, (2) ZENITH VCR'S, (3) TENMA
              LAB DC POWER SUPPLIES, LEADER PATTERN GENERATOR, 408
              NPS, ASSOCIATED EQUIPMENT

 282  15212   ZENITH CUSTOM CIRCUIT TEST STATION W/ INDUSTRIAL PC,                   $ 2,250.00       $ 3,000.00      $ 3,750.00
              MONITOR, QUANTUM DATA 8701, FIXTURE, LEADER PATTERN
              GENERATOR , 408 NPS, KIKUSUI AUTOMATIC W / I TESTER, HP
              DIGITAL MULTI-METER, ELGAR AC POWER SOURCE, ASSOCIATED
              EQUIPMENT
------------------------------------------------------------------------------------------------------------------------------------
              PAGE TOTAL                                                             $14,250.00       $20,750.00      $27,250.00
------------------------------------------------------------------------------------------------------------------------------------

Page 50

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM#          ID#                  DESCRIPTION                                      FLV                FMV             FMVIP
------------------------------------------------------------------------------------------------------------------------------------
FRONT PROJECTION ASSEMBLY LINE (#5) (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    283       15213    ZENITH CUSTOM CIRCUIT TEST STATION W/ INDUSTRIAL PC,          $ 2,500.00         $ 3,250.00      $ 4,000.00
                       MONITOR,  FIXTURE, LEADER PATTERN GENERATOR , 408 NPS,
                       KIKUSUI AUTOMATIC W / I TESTER, HP DIGITAL MULTI-METER,
                       LEADER OSCILLOSCOPE,  ELGAR AC POWER SOURCE, ASSOCIATED
                       EQUIPMENT
------------------------------------------------------------------------------------------------------------------------------------
ASSEMBLY MAINTENANCE
------------------------------------------------------------------------------------------------------------------------------------
    284                MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT             $ 4,500.00         $ 5,250.00      $ 6,000.00
                       LIMITED TO:  ROTARY GAP FRAME TURRET PRESS, PALLET
                       JACK, ROLLER CONVEYOR, STORAGE CABINETS, SLAUGHTERBACK
                       GLUE DISPENSER, TABLE SAW, MILWAUKEE DRILL, (2)
                       ABRASIVE CUT-OFF SAWS, HILTI HAMMER DRILL, DOUBLE ENDED
                       PEDESTAL GRINDER, CLAUSING MILLING MACHINE, (2) DRILL
                       PRESSES, ASSOCIATED HAND TOOLS, SUPPLIES & EQUIPMENT

------------------------------------------------------------------------------------------------------------------------------------
HAZARDOUS WASTE AREA
------------------------------------------------------------------------------------------------------------------------------------
    285                MISCELLANEOUS SUPPORT  / OFFICE EQUIPMENT INCLUDING BUT       $ 5,000.00         $10,000.00      $18,000.00
                       NOT LIMITED TO:  METAL SHELVING, BARREL CARTS, METAL
                       DESKS, PERSONAL COMPUTERS, SWIVEL CHAIRS, BARREL PUMPS,
                       HAND TRUCKS, LIQUID CONTROLS METER REGISTER, FLAMMABLE
                       STORAGE CABINETS, CHEMICAL STORAGE  TANKS, PALLET
                       JACKS, GATEWAY 2000 4DX-33, MATERIAL DISPENSING SYSTEM
                       COMPLETE W / GRACO-HIGH PRESSURE MOTORS MODEL #210-390,
                       HYDRAULIC POWERED PUMPS

------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                    $12,000.00         $18,500.00      $28,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 51

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM#          ID#                  DESCRIPTION                                      FLV              FMV              FMVIP
------------------------------------------------------------------------------------------------------------------------------------
HAZARDOUS WASTE AREA (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    286       16107    VICKERS PACKAGED ROTARY SCREW COMPRESSOR W/ (2) LINCOLN       $  500.00        $  700.00        $  800.00
                       MOTORS, FAN EX 1/2 HP BLOWER

------------------------------------------------------------------------------------------------------------------------------------
MAINTENANCE/PLANT ENGINEERING OFFICE
------------------------------------------------------------------------------------------------------------------------------------
    287                MISCELLANEOUS OFFICE EQUIPMENT INCLUDING BUT NOT              $5,000.00        $6,000.00        $7,000.00
                       LIMITED TO:  WOODEN & METAL DESKS, SWIVEL & SIDE
                       CHAIRS, TYPEWRITERS, FILING CABINETS, (4) 486 PERSONAL
                       COMPUTERS, (2) GATEWAY 2000 4DX-33 PC, GATEWAY 2000
                       486DX-33 PC, IBM CLONE 150 MHZ PC W / 8 X CD ROM,
                       MONITORS, BLUEPRINT STORAGE CABINETS, METAL BOOKCASES,
                       MICROWAVE, COFFEE MAKER, EPSON COLOR PRINTER, (2) HP
                       LASERJET 4L PRINTER, SHARP FO-245 FAX, CONFERENCE ROOM
                       TABLE, SIDE CHAIRS, EXECUTIVE OFFICE FURNITURE SET
                       INCLUDING:  DESK, CREDENZA, FILING CABINET, BOOKCASE,
                       HIGH BACK SWIVEL CHAIR, HP DRAFT PRO PLOTTER, COUCH W /
                       MATCHING LOVESEAT

------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                    $5,500.00        $6,700.00        $7,800.00
------------------------------------------------------------------------------------------------------------------------------------

Page 52

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM#          ID#                  DESCRIPTION                                      FLV              FMV              FMVIP
------------------------------------------------------------------------------------------------------------------------------------
FLOOR MATERIAL OFFICE
------------------------------------------------------------------------------------------------------------------------------------
    288                    MISCELLANEOUS OFFICE EQUIPMENT INCLUDING BUT NOT          $ 5,000.00       $ 6,000.00       $ 7,000.00
                           LIMITED TO:  GATEWAY 2000 4DX2-66, (2) GATEWAY 2000
                           4DX-33 PC, GATEWAY 2000 4DX2-50 PC, (4) MICROMART 486
                           PC, HP DESKJET 682C COLOR PRINTER, (2) EPSON FX-1170
                           PRINTER, HP DESKJET 550C PRINTER, HP LASERJET 4L
                           PRINTER, HP LASERJET 3P PRINTER, METAL & WOODEN DESKS,
                           BOOKCASES, METAL FILING CABINETS, SWIVEL CHAIRS,
                           EXECUTIVE OFFICE SET INCLUDING:  U-SHAPED DESK, (2)
                           SIDE 6' DISPLAY CABINETS, HIGH-BACK LEATHER CHAIR

------------------------------------------------------------------------------------------------------------------------------------
TOOL CRIB
------------------------------------------------------------------------------------------------------------------------------------
    289                    MISCELLANEOUS INCLUDING BUT NOT LIMITED TO:  CIRCULAR     $30,000.00       $35,000.00       $45,000.00
                           SAWS, HAND TOOLS, DRILLS, HAMMER DRILL, HEAVY DUTY
                           MILWAUKEE SAW ZALL, BLACK & DECKER NAILERS, MILWAUKEE
                           RIGHT ANGLE DRILL, CLAMPS, HILTI-POWER TOOLS, PIPE
                           CUTTERS, WRENCHES,  DRILL BITS, LOCKERS, PARTS BIN,
                           PAINT SUPPLIES, DIGITAL SCALE, HOSES, HAND TRUCKS,
                           BENCH VISE CUTTERS, LADDER, PORTABLE STAIRCASE, WIRE
                           ROLLS, WELDING SUPPLIES, ELECTRICAL SUPPLIES, PAPER
                           SUPPLIES, MOTORS, PUMPS, METAL SHELVING, PLUMBING
                           SUPPLIES, BELTS, GLUE DISPENSERS, PALLET JACKS,
                           PORTABLE STAIRCASES, RAW MATERIAL, (2) RIGID PIPE
                           THREADERS, LAWN MOWER, ACETYLENE TORCH CARTS

------------------------------------------------------------------------------------------------------------------------------------
                           PAGE TOTAL                                                $35,000.00       $41,000.00       $52,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 53

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM#          ID#                  DESCRIPTION                                      FLV                 FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
TOOL CRIB (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    290       16108    INVENTORY / SUPPLY ELEVATOR - 3 FLOOR CAPACITY, CAGE          $    200.00        $    700.00    $  1,500.00

    291       16109    LINCOLN ELECTRIC IDEAL ARC 250 ARC WELDER                     $    100.00        $    150.00    $    200.00

    292       16110    LINCOLN ELECTRIC IDEAL ARC 250 ARC WELDER                     $    100.00        $    150.00    $    200.00

    293       16111    LINCOLN ELECTRIC IDEAL ARC 250 ARC WELDER                     $    100.00        $    150.00    $    200.00

------------------------------------------------------------------------------------------------------------------------------------
COMPRESSOR ROOM
------------------------------------------------------------------------------------------------------------------------------------
    294       16112    GARDNER-DENVER ROTARY SCREW AIR COMPRESSOR W/ GE 250 HP       $ 25,000.00        $ 30,000.00    $ 37,500.00
                       MOTOR, 25,172 HOURS

    295       16113    GARDNER-DENVER ROTARY SCREW AIR COMPRESSOR W/ GE 250 HP       $ 27,500.00        $ 32,500.00    $ 40,000.00
                       MOTOR, 1082 HOURS

    296       16114    GARDNER-DENVER ROTARY SCREW AIR COMPRESSOR W/ GE 200 HP       $ 20,000.00        $ 25,000.00    $ 30,000.00
                       MOTOR, 1310 HOURS

    297       16115    GARDNER-DENVER ELECTRA SCREW AIR COMPRESSOR 250 HP,           $  5,000.00        $  8,000.00    $ 15,000.00
                       6267 HOURS

    298       16116    GARDNER-DENVER ELECTRA SCREW AIR COMPRESSOR 250 HP,           $  5,000.00        $  8,000.00    $ 15,000.00
                       14,536 HOURS

    299       16117    (1995) ATLAS COPCO PACKAGE TYPE ROTARY SCREW AIR              $ 40,000.00        $ 45,000.00    $ 60,000.00
                       COMPRESSOR MODEL #GA200W, S/N ATF-019111, 250 HP

------------------------------------------------------------------------------------------------------------------------------------
                       PAGE  TOTAL                                                   $123,000.00        $149,650.00    $199,600.00
------------------------------------------------------------------------------------------------------------------------------------

Page 54

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM#          ID#                  DESCRIPTION                                      FLV                FMV           FMVIP
------------------------------------------------------------------------------------------------------------------------------------
COMPRESSOR ROOM (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    300       16118          INGERSOLL RAND PACKAGE AIR COMPRESSOR INCLUDING         $10,000.00         $13,000.00    $ 16,500.00
                             DISCHARGE TEMPERATURE / AIR PRESSURE, AIR FILTER
                             GAUGES, 61,491 HOURS

    301       16119          KAESER COMPRESSED AIR DRYER, MODEL #KRD-2000, S/N       $ 2,500.00         $ 3,500.00    $  4,500.00
                             0320-9-8812-2

    302       16120          HANKISON COMPRESSED AIR DRYER, MODEL #80200, S/N        $ 2,500.00         $ 3,500.00    $  4,500.00
                             0326-5-8605-002, CAPACITY 2000 SCFM@100 PSIG & 100
                             DEGREES F.

    303       16121          HANKISON COMPRESSED AIR DRYER, MODEL #80200, S/N N/A,   $ 2,500.00         $ 3,500.00    $  5,000.00
                             CAPACITY 2000 SCFM@100 PSIG & 100 DEGREES F.

    304       16122          HANKISON COMPRESSED AIR DRYER, MODEL #PR-2000, S/N      $ 3,000.00         $ 4,000.00    $  6,000.00
                             0371-2-9408-0007, 200 PSIG

    305       16123          HANKISON COMPRESSED AIR DRYER, MODEL #80200, S/N        $ 2,500.00         $ 3,500.00    $  5,000.00
                             0326-5-8605-002, CAPACITY 2000 SCFM@100 PSIG & 100
                             DEGREES F.

    306       16124          HURST BOILER, W/ FIRING / BURNER / FURNACE TEMPERATURE  $30,000.00         $40,000.00    $ 60,000.00
                             INDICATOR, DIGITAL TOUCH PAD CONTROLS, HONEYWELL CHART
                             RECORDER, FURNACE DRAFT CONTROL, RELIANCE ELECTRIC A/C
                             DRIVE
------------------------------------------------------------------------------------------------------------------------------------
                             PAGE TOTAL                                              $53,000.00         $71,000.00    $101,500.00
------------------------------------------------------------------------------------------------------------------------------------

Page 55

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CUIDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
ITEM#          ID#                         DESCRIPTION                                    FLV            FMV            FMVIP
---------------------------------------------------------------------------------------------------------------------------------
AIR COMPRESSOR ROOM (CONT'D)
---------------------------------------------------------------------------------------------------------------------------------
    307       16125       (1984) APACHE BOILER / BURNER UNIT, MODEL #8-5-4000,         $ 25,000.00    $ 35,000.00     $ 50,000.00
                          S/N 9276, STEAM CAPACITY 27,600 LB / HR, MIN VALVE
                          CAPACITY 32,000 LB / HR, 4000 SQ FT HEATING SURFACE,
                          9/16" STEEL THICKNESS

    308       16126       (1984) APACHE BOILER / BURNER UNIT, MODEL #8-5-4000,         $ 25,000.00    $ 35,000.00     $ 50,000.00
                          S/N 9278, STEAM CAPACITY 27,600 LB / HR, MIN VALVE
                          CAPACITY 32,000 LB / HR, 4000 SQ FT HEATING SURFACE,
                          9/16" STEEL THICKNESS

    309       16127       (1984) APACHE BOILER / BURNER UNIT, MODEL #8-5-4000,         $ 25,000.00    $ 35,000.00     $ 50,000.00
                          S/N 9277, STEAM CAPACITY 27,600 LB / HR, MIN VALVE
                          CAPACITY 32,000 LB / HR, 4000 SQ FT HEATING SURFACE,
                          9/16" STEEL THICKNESS

    310       16128       (1984) APACHE BOILER / BURNER UNIT, MODEL #8-5-4000,         $ 25,000.00    $ 35,000.00     $ 50,000.00
                          S/N 9399, STEAM CAPACITY 27,600 LB / HR, MIN VALVE
                          CAPACITY 32,000 LB / HR, 4000 SQ FT HEATING SURFACE,
                          9/16" STEEL THICKNESS
---------------------------------------------------------------------------------------------------------------------------------
MACHINE SHOP
---------------------------------------------------------------------------------------------------------------------------------
    311       16129       INDIANAPOLIS VERTICAL MILLING MACHINE W / 9 X 42" TABLE      $    750.00    $  1,000.00     $  1,250.00
                          MILLING VISE W / INDEX HEAD

    312       16130       INDIANAPOLIS VERTICAL MILLING MACHINE W / 9 X 42" TABLE      $  1,000.00    $  1,250.00     $  1,500.00
                          MILLING VISE, INDEX HEAD, POWER FEED

---------------------------------------------------------------------------------------------------------------------------------
                          PAGE TOTAL                                                   $101,750.00    $142,250.00     $202,750.00
---------------------------------------------------------------------------------------------------------------------------------

Page 56

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CUIDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
ITEM#          ID#                         DESCRIPTION                                    FLV            FMV            FMVIP
---------------------------------------------------------------------------------------------------------------------------------
MACHINE SHOP (CONT'D)
---------------------------------------------------------------------------------------------------------------------------------
    313       16131   STAR 9" X 16" HORIZONTAL METAL CUTTING BAND SAW, S/N N/A       $   750.00      $ 1,000.00   $ 1,250.00

    314       16132   CINCINNATI HORIZONTAL BORING MILL 4' X 6" TABLE                $   400.00      $   600.00   $   800.00

    315       16133   WALKER TURNER VERTICAL BAND SAW 20" THROAT                     $   750.00      $ 1,000.00   $ 1,250.00

    316       16134   CINCINNATI HORIZONTAL BORING MILL 4' X 6" TABLE                $   600.00      $   800.00   $ 1,000.00

    317       16135   REPUBLIC ENGINE LATHE 16" X 60" CC,  S/N 16685030106 W/        $ 4,000.00      $ 6,000.00   $ 8,000.00
                      TAILSTOCK, TOOLPOST HOLDER, 3 JAW CHUCK

    318       16140   (1994) VOLLMER EDM, CHP 025 W/ VOLTMER PMC-SYSTEM              $10,000.00      $15,000.00   $20,000.00
                      CONTROLS, S/N 1198

    319       16141   LINCOLN IDEAL ARC 250, AC / DC ARC WELDER                      $   100.00      $   150.00   $   200.00

    320       16142   LINCOLN IDEAL ARC 250, AC / DC ARC WELDER                      $   100.00      $   150.00   $   200.00

    321       16136   SOUTH BEND ENGINE LATHE, 15" X 47" CC, TAILSTOCK,              $ 2,000.00      $ 2,500.00   $ 3,000.00
                      TOOLPOST HOLDER 3 JAW CHUCK, S/N N/A

    322       16137   MVM GRINDER MODEL #GM1000, S/N 12455                           $   500.00      $   750.00   $ 1,000.00

    323       16138   CRAFTSMAN TOOLROOM LATHE                                       $   750.00      $ 1,000.00   $ 1,250.00

    324       16139   VOLLMER DORNHAM EDM, FINIMAT BETA W / VOLLMER DORNHAM          $ 3,000.00      $ 4,000.00   $ 5,000.00
                      CONTROLS
---------------------------------------------------------------------------------------------------------------------------------
                      PAGE TOTAL                                                     $22,950.00      $32,950.00   $42,950.00
---------------------------------------------------------------------------------------------------------------------------------

Page 57

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CUIDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
ITEM#          ID#                        DESCRIPTION                                    FLV             FMV            FMVIP
---------------------------------------------------------------------------------------------------------------------------------
MACHINE SHOP (CONT'D)
---------------------------------------------------------------------------------------------------------------------------------
    325                  MISCELLANEOUS MACHINE SHOP SUPPORT INCLUDING BUT NOT            $5,000.00     $ 7,000.00      $ 9,000.00
                         LIMITED TO:  DOUBLE END GRINDERS, TOOL CUTTERS, BENCH
                         VISES, SAND BLAST CABINET, DIE LIFT TABLE, METAL
                         SHELVING, CLAUSING DRILL, METAL BENDING BREAKS, PINCH
                         ROLLERS, DRILL PRESS, PALLET , WRAPPER ARBOR PRESS,
                         WORK TABLES

---------------------------------------------------------------------------------------------------------------------------------
AGE / LIFE AREA
---------------------------------------------------------------------------------------------------------------------------------
    326       16154      CUSTOM FABRICATED HORIZONTAL INCLINE DROP TESTER W  /           $  750.00     $ 1,000.00      $ 1,250.00
                         WOODEN BACKSTOP, CHAIN LINK PULLEY, GAYNES 1000 VM
                         VELOCITY METER

    327       16155      CUSTOM FABRICATED VERTICAL DROP TESTING MACHINE W /             $  400.00     $   600.00      $   800.00
                         CONTROLS, W / MOTORS, ASSOCIATED EQUIPMENT, 5' X 5' BED

    328       16156      CUSTOM FABRICATED VERTICAL DROP TESTING MACHINE W /             $  400.00     $   600.00      $   800.00
                         CONTROLS, W / MOTORS, ASSOCIATED EQUIPMENT, 7' X 8' BED

    329       16157      APPROXIMATELY (14) CUSTOM FABRICATED ELECTRIFIED TEST           $3,000.00     $ 5,000.00      $10,000.00
                         RACKS FOR AGE/LIFE TESTING COMPLETE W / VARIAC AUTO
                         TRANSFORMERS, BLONDER TONGUE SINGLE CHANNEL BANDPASS
                         FILTER, LINE VOLTAGE MONITOR

---------------------------------------------------------------------------------------------------------------------------------
                         PAGE TOTAL                                                      $9,550.00     $14,200.00      $21,850.00
---------------------------------------------------------------------------------------------------------------------------------

Page 58

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CUIDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
ITEM#          ID#                        DESCRIPTION                                    FLV              FMV            FMVIP
---------------------------------------------------------------------------------------------------------------------------------
AGE / LIFE (CONT'D)
---------------------------------------------------------------------------------------------------------------------------------
 330         16158     (1997) LANSMOUNT HYDRAULIC VIBRATION TEST SYSTEM             $ 85,000.00        $ 95,000.00    $110,000.00
                       COMPLETE W/ 70" X 70" ALUMINUM, MODEL #6000-10, 5000 LB
                       SOLID STEEL BASE MOUNTED ON A LOW-FREQUENCY  CLAMPED
                       SUSPENSION SYSTEM, WATER COOLED HEAT EXCHANGER PEAK
                       FLOW 159 PM,  MAX PRESSURE 3000 PSI, TOUCH TEST
                       CONTROLS, LASER PRINTER

 331         16159     LANSMOUNT DROP TESTER MACHINE MODEL #PDT-227 W /             $ 20,000.00        $ 25,000.00    $ 30,000.00
                       ELECTRIC HOIST POSITIONING, INFINITE DROP HEIGHT
                       RESOLUTION UP TO A MAX 72", TEST WEIGHT MAX 500 LBS,
                       MAX PACKAGE SIZE 44", STEEL BASE

---------------------------------------------------------------------------------------------------------------------------------
AGE / LIFE OFFICES (OQC)
---------------------------------------------------------------------------------------------------------------------------------
 332                   MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT            $  3,500.00        $  5,000.00    $  6,000.00
                       LIMITED TO:  WOODEN DESKS, SWIVEL CHAIRS, SIDE CHAIRS,
                       FILING CABINETS, WOODEN BOOKSHELVES, ZENITH 486 PC,
                       GATEWAY 2000 P5-75 PC,(2)  GATEWAY 2000 4DX2-66 PC,
                       COMPAQ PRESARIO COMPUTER, MICRO MART PENTIUM 100
                       COMPUTERS, DELL COMPUTER SERVER XPS-P200S, HP DESKJET
                       855 CSE PRINTER,  HP DESKJET 860 CSE PRINTER, (2) HP
                       DESKJET 820 CSE PRINTERS, ENCAD CADJET 2 PLOTTER,
                       PANASONIC KX-F500 FAX MACHINE, EPSON PZ STYLUS PRINTER

---------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                   $108,500.00        $125,000.00    $146,000.00
---------------------------------------------------------------------------------------------------------------------------------

Page 59

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CUIDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------------
ITEM#       ID#                          DESCRIPTION                                 FLV               FMV                FMVIP
----------------------------------------------------------------------------------------------------------------------------------
PACKAGING / SHIPPING AREA
----------------------------------------------------------------------------------------------------------------------------------
 333                  MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:      $ 15,000.00        $ 18,000.00         $20,000.00
                      (6) SLAUGHTERBACK GLUE DISPENSERS, WORK TABLES, COMPARC
                      50V ARC WELDER, STAPLE GUNS, ALUMINUM CYLINDRICAL
                      DISPENSERS, STRAPPING CART, METAL SHELVING, TOOL
                      CARTS,  HAND TOOLS, RAW STEEL, STEEL CAGE, ROLLER
                      CONVEYORS, METAL DESKS, SCALES, LADDERS, GANTRY STYLE
                      PICK & PLACE VACUUM LIFTS

 334       16160      ROSENTHAL SHEET MASTER CUT TO LENGTH SHEETING SYSTEM       $  1,500.00        $ $2,000.00         $ 2,500.00
                      COMPLETE W / ROLL FEED, DIGITAL TOUCHPAD CONTROLS, S/N
                      70109

 335       16161      ROSENTHAL SHEET MASTER CUT TO LENGTH SHEETING SYSTEM       $ 1,500.00         $  2,000.00         $ 2,500.00
                      COMPLETE W / ROLL FEED, DIGITAL TOUCHPAD CONTROLS, S/N
                      70120

----------------------------------------------------------------------------------------------------------------------------------
LINE #3 & #4 PACKING AREA
----------------------------------------------------------------------------------------------------------------------------------
 336                 MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:       $ 2,000.00         $  3,000.00         $ 4,000.00
                     ROLLER CONVEYORS, BANDING CART, CARTON SEAL MACHINES,
                     MOTORS, ASSOCIATED EQUIPMENT, (NOT IN SERVICE)

----------------------------------------------------------------------------------------------------------------------------------
LINE #3, #4, #5, #6 FINAL ASSEMBLY
----------------------------------------------------------------------------------------------------------------------------------
 337                 APPROXIMATELY 800 FEET OF CHAIN LINK CONVEYORS, (3)         $ 4,000.00         $  7,000.00         $10,000.00
                     OVERHEAD MANUALLY OPERATED VACUUM LIFTS, (6) CUSTOM
                     BUILT ELEVATOR PALLET TRANSFER UNITS, (NOT IN SERVICE)

----------------------------------------------------------------------------------------------------------------------------------
                     PAGE TOTAL                                                  $24,000.00         $ 32,000.00         $39,000.00
----------------------------------------------------------------------------------------------------------------------------------

Page 60

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
CIUDAD JUAREZ, MX PLANT #43

April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM # ID#                             DESCRIPTION                               FLV                FMV                FMVIP
------------------------------------------------------------------------------------------------------------------------------------
WAREHOUSE
------------------------------------------------------------------------------------------------------------------------------------
    338                MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:     $ 5,000.00         $ 8,000.00         $12,000.00
                       APPROXIMATELY (72) SECTIONS OF 20' HIGH  10' WIDE HEAVY
                       DUTY PALLET RACKING, TRASH BINS, METAL DESKS, CHAIRS,
                       PORTABLE STAIRCASE

------------------------------------------------------------------------------------------------------------------------------------
TPSG OFFICES (2ND FLOOR/BACK)
------------------------------------------------------------------------------------------------------------------------------------
    339                MISCELLANEOUS OFFICE EQUIPMENT INCLUDING BUT NOT          $ 5,000.00         $ 6,000.00         $ 7,000.00
                       LIMITED TO:  EXECUTIVE OFFICE SETS, DESK, CREDENZA,
                       BOOKCASE, WOODEN DESKS, 8' CONFERENCE ROOM TABLE,
                       PLASTIC CHAIRS, UPHOLSTERED SIDE CHAIRS, SWIVEL CHAIRS,
                       REFRIGERATOR,  MICROWAVE, MARKER BOARD, FILING
                       CABINETS, (3) MICRO MART 486 PC, (2) ZENITH 486 PC, (3)
                       GAETWAY 2000 4SX-33, GATEWAY 2000 4DX2-50, GATEWAY 2000
                       4DX2-66, HP LASER JET 3, HP DESK JET 540 PRINTER, HP
                       LASER JET 4P PRINTER, (2) HP LASER JET 4L PRINTERS,
                       EPSON FX-1170 PRINTER, HP DESK JET 660C PRINTER, HP
                       DESK JET 1200C PRINTER

------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                $10,000.00         $14,000.00         $19,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 61

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
CIUDAD JUAREZ, MX PLANT #43

April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM # ID#                             DESCRIPTION                                      FLV                FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
FIXTURE MAINTENANCE
------------------------------------------------------------------------------------------------------------------------------------
    340       15214     BIG JOE ELECTRIC WALK-BEHIND FORKLIFT MODEL #PDI-2411,          $  700.00          $1,000.00      $1,250.00
                        S/N 345119

    341                 MISCELLANEOUS INCLUDING BUT NOT LIMITED TO:                     $2,000.00          $2,250.00      $3,000.00
                        APPROXIMATELY (24) 8' SECTIONS OF HEAVY DUTY PALLET
                        RACKING, PALLET JACKS, WOODEN DESK, PERSONAL COMPUTERS,
                        PORTABLE STAIRCASE, AIR RECEIVER TANKS, DRILL PRESS,
                        DOUBLE ENDED GRINDER, ASSOCIATED FIXTURES

------------------------------------------------------------------------------------------------------------------------------------
PAINT AREA
------------------------------------------------------------------------------------------------------------------------------------
    342                 MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:           $3,000.00          $4,000.00      $5,000.00
                        PAINT BOOTH, MIXERS, LAB OVEN, COMPUTER WORKSTATION,
                        PRESSURE CYLINDERS, FLAMMABLE STORAGE CABINET, ANALOG
                        SCALES, GATEWAY P5-166 PC W / COMPAQ MONITOR, HP DESK
                        JET 500C, T.V.

------------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                      $5,700.00          $7,250.00      $9,250.00
------------------------------------------------------------------------------------------------------------------------------------

Page 62

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
CIUDAD JUAREZ, MX PLANT #43

April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM # ID#                             DESCRIPTION                                 FLV               FMV                 FMVIP
------------------------------------------------------------------------------------------------------------------------------------
CAFETERIA
------------------------------------------------------------------------------------------------------------------------------------
    343                 MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:      $6,000.00         $ 7,500.00          $10,000.00
                        APPROXIMATELY (61) FORMICA TOP CAFETERIA TABLES W/
                        BUILT-IN INDIVIDUAL BENCHES, STAINLESS STEEL BUFFET
                        STYLE SERVING STATIONS, VARIOUS SIZE TELEVISIONS, CASH
                        REGISTERS, PITCO FRYOLATORS, GRILLS, TOASTERS, AMANO
                        TIMECLOCK, ALTO SHAAM OVENS, METRO CARTS, ASSORTED POTS
                        & PANS, COOLERS, VULCAN DISPENSERS, UTENSILS, GARLAND
                        FRYOLATORS, UNIREX MIXERS, HOBART MIXERS, FOUR BURNER
                        TOP RANGE

    344       16144     BLAKESLEE INDUSTRIAL DISHWASHER                            $2,000.00         $ 2,500.00          $ 3,000.00

    345       16145     MANITOWOC COMMERCIAL ICE MAKER, MODEL #C950, S/N           $  650.00         $   750.00          $ 1,250.00
                        950120386

    346       16146     DUKE INDUSTRIAL GAS OVEN                                   $1,000.00         $ 1,250.00          $ 1,500.00
------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                  $9,650.00         $12,000.00          $15,750.00
------------------------------------------------------------------------------------------------------------------------------------

Page 63

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
CIUDAD JUAREZ, MX PLANT #43

April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM # ID#                             DESCRIPTION                                FLV                FMV                FMVIP
------------------------------------------------------------------------------------------------------------------------------------
OFFICE IND RELATIONS
------------------------------------------------------------------------------------------------------------------------------------
    347                MISCELLANEOUS OFFICE EQUIPMENT INCLUDING BUT NOT           $4,000.00          $5,000.00          $ 6,000.00
                       LIMITED TO:  MICRO MART 486 PC MONITOR, (2) HP DESK JET
                       660C COLOR PRINTERS, (3) HP DESK JET 682C COLOR
                       PRINTERS, HP DESK JET 560C COLOR PRINTER, HP LASER JET
                       3P PRINTER, TOSHIBA FAX MACHINE,
                       GATEWAY 2000 4DX-33PC, EPSON LQ2550 PRINTER, (3)
                       ALANTRA ICS PENTIUM PCS, MATCHING WOODEN FURNITURE SET
                       INCLUDES:   DESK, CREDENZA, BOOKCASE, HIGH BACK SWIVEL
                       CHAIRS, SIDE CHAIRS, TYPEWRITERS, COMPUTER
                       WORKSTATIONS, METAL & WOODEN
                       FILING CABINETS, MICROWAVE, CAMERA, DATACARD SYSTEM,
                       APPROXIMATELY (80) LINEAR FEET OF WOODEN / CLOTH OFFICE
                       PARTITIONS

------------------------------------------------------------------------------------------------------------------------------------
RECEPTIONISTS AREA
------------------------------------------------------------------------------------------------------------------------------------
    348                MISCELLANEOUS OFFICE EQUIPMENT INCLUDING BUT NOT           $3,000.00          $4,000.00          $ 5,000.00
                       LIMITED TO:  RECEPTIONISTS DESK COMPLETE W / FORMICA
                       TOP, DRAWERS, COMPUTER WORKSTATION, SWIVEL CHAIRS, 486
                       PERSONAL COMPUTER MONITOR, (3) MATCHING LEATHER SOFAS,
                       (3) LARGE SCREEN TELEVISIONS, SIDE TABLES, COFFEE
                       TABLE, ZENITH COMPLETE STEREO SYSTEM

------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                 $7,000.00          $9,000.00          $11,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 64

GREENWICH INDUSTRIAL SERVICES, LLC

Appraisal Division
Zenith Corporation
CIUDAD JUAREZ, MX PLANT #43

April 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM # ID#                             DESCRIPTION                                       FLV                FMV         FMVIP
------------------------------------------------------------------------------------------------------------------------------------
MATERIAL CONTROL (OFFICE)
------------------------------------------------------------------------------------------------------------------------------------
    349                    MISCELLANEOUS OFFICE FURNITURE INCLUDING BUT NOT              $5,000.00          $6,000.00   $ 7,000.00
                           LIMITED TO:  APPROXIMATELY (7) WOODEN / FORMICA TOP
                           DESKS, W /  MATCHING CREDENZAS / WORKSTATIONS,
                           HIGH-BACK SWIVEL CHAIRS, MATCHING SIDE CHAIRS,
                           BOOKCASES, FILING CABINETS,
                           MICROWAVE, REFRIGERATOR, 10' CONFERENCE ROOM TABLE,
                           MARKER BOARD, TYPEWRITERS, GATEWAY 2000 4DX2-50,
                           MONITOR, ALANTRA PENTIUM PC W / 8X CD ROM MONITOR, (4)
                           MICRO MART PENTIUM COMPUTERS, EPSON FX-870
                           PRINTER, HP LASER JET III PRINTER, HP DESK JET 660CSE
                           PRINTER, HP LASER JET 4L PRINTER, KONICA FAX 150

------------------------------------------------------------------------------------------------------------------------------------
PURCHASING DEPARTMENT
------------------------------------------------------------------------------------------------------------------------------------
    350                    (2) EXECUTIVE OFFICE SETS INCLUDING:  WOODEN DESKS,           $2,500.00          $3,000.00   $ 3,500.00
                           MATCHING GLASS CABINET, HIGH-BACK SWIVEL CHAIRS, SIDE
                           CHAIRS, MICRO MART PENTIUM COMPUTER, HP PAVILION 7010
                           COMPUTER, HP LASER JET 4L, MONITORS

------------------------------------------------------------------------------------------------------------------------------------
                           PAGE TOTAL                                                    $7,500.00          $9,000.00   $10,500.00
------------------------------------------------------------------------------------------------------------------------------------

Page 65

GREENWICH INDUSTRIAL SERVICES, LLC
APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #       ID#                          DESCRIPTION                              FLV                FMV                FMVIP
------------------------------------------------------------------------------------------------------------------------------------
PRINCIPAL OFFICES (MFG / ENGINEERING)
------------------------------------------------------------------------------------------------------------------------------------
    351                 MISCELLANEOUS OFFICE FURNITURE INCLUDING BUT NOT           $7,000.00          $8,500.00          $11,000.00
                        LIMITED TO: WOODEN DESKS, SWIVEL CHAIRS, SIDE CHAIRS,
                        APPROXIMATELY 450 LINEAR FEET OF 4' X 5' WOODEN OFFICE
                        PARTITIONS, METAL / WOODEN FILING CABINETS, PRINTER
                        STANDS, BOOKCASES, MICROFICHE
                        READER, METAL 2-DOOR LOCKERS, (3) 586 PC'S, ABS 486 PC,
                        ZENITH Z-SELECT 100 PC, (2) MICROMART PENTIUM
                        COMPUTERS, (2) GATEWAY 2000 4DX2-66, (2) GATEWAY 2000
                        RDX-33, COMPAQ PRESARIO 7222 PC, HP FAX-700, (2) EPSON
                        FX1170 PRINTERS,
                        BLUE-RAY 45 SCAVENGER PLUS BLUE PRINT COPIER, ENCA D
                        NOVA JET 4 PLOTTER, HP SCAN JET 4P SCANNER, (2) HP
                        LASER JET 4 PRINTER, MUSTER MODEL MFS 6000CX SCANNER,
                        HP DRAFT PRO PLOTTER, HP DRAFT PRO PLOTTER
                        PLUS HP G1/2 LANGUAGE, HP DESK JET 660C PRINTER, HP
                        DESK JET 540C PRINTER, HP DESK JET 520C PRINTER, (3) HP
                        LASER JET 4C PRINTER
------------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                 $7,000.00          $8,500.00          $11,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 66

GREENWICH INDUSTRIAL SERVICES, LLC
APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #       ID#                          DESCRIPTION                              FLV                FMV                FMVIP
------------------------------------------------------------------------------------------------------------------------------------
INFO SYSTEMS
------------------------------------------------------------------------------------------------------------------------------------
    352                 MISCELLANEOUS OFFICE EQUIPMENT INCLUDING BUT NOT          $12,000.00         $20,000.00          $25,000.00
                        LIMITED TO:  WOODEN DESKS, SWIVEL CHAIRS, BOOKCASES,
                        COAT RACK, MARKER BOARD, FAN, FILING CABINET, COMPUTER
                        WORKSTATIONS, WOODEN DISPLAY CASE, GATEWAY 2000
                        4DX2-50, GATEWAY 2000
                        4SX-33, (2) MICRO MART PENTIUM / 486 COMPUTERS 66 MHZ,
                        (3) ALANTRA ICS PC PENTIUM 133 MHZ, (2) GATEWAY 2000
                        4DX2-66, IBM CLONE 100 MHZ PENTIUM COMPUTER, COMTRADE
                        486 100 MHZ, COMPAQ PRESARIO 7222 P/C, (5) HP DESK
                        JET 660CSE PRINTER, (5) HP DESK JET 682C PRINTER, EPSON
                        IQ-870 PRINTER, (2) HP LASER JET 4L PRINTER, HP SCAN
                        JET 4P SCANNER, GATEWAY PENTIUM 133 MHZ COMPUTER, CD
                        ROM, GATEWAY P5-166 COMPUTER TOWER, CD ROM, VARIOUS
                        MONITORS / PERSONAL
                        COMPUTERS (NOT IN SERVICE), ZEBRA LABEL PRINTER MODEL
                        #140XI
------------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                $12,000.00         $20,000.00          $25,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 67

GREENWICH INDUSTRIAL SERVICES, LLC
APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #       ID#                          DESCRIPTION                               FLV                FMV               FMVIP
------------------------------------------------------------------------------------------------------------------------------------
INFO SYSTEMS (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    353                 IBM RISC SYSTEM / 6000 R24 CPU COMPUTER SYSTEM MAIN      $110,000.00        $135,000.00         $160,000.00

                        PROCESSOR, COMPLETE W / (6) PROCESSORS, (2) IBM
                        7133-010 HARD DRIVES, HP NET SERVER 5/90 LM, GATEWAY
                        2000 4SX-33, PENTIUM 133 MHZ MICRO MART PC, 486 33 MHZ
                        PC,PENTIUM 166 MHZ PC, ZENITH 2-SERVER 466XE,
                        EXABYTE-EXB-10E BACK-UP TAPE SYSTEM, VER 1.2.185, CISCO
                        4000 SERIES ROUTERS, (3) MEGA SWITCHES, (2) TERMINAL
                        SERVERS ETS, 16UF, LEVITON QUICK PORT PATCH PANEL,
                        TERMINAL PORTS, POWER WARE, BACK UPS, POWER SUPPLIES
------------------------------------------------------------------------------------------------------------------------------------
ACCOUNTING / FINANCE
------------------------------------------------------------------------------------------------------------------------------------
    354                 MISCELLANEOUS OFFICE EQUIPMENT INCLUDING BUT NOT         $  7,000.00        $  8,500.00         $ 10,000.00
                        LIMITED TO:  WOODEN DESKS, UPHOLSTERED SWIVEL CHAIRS,
                        WOODEN FILING CABINETS, BOOKCASES, SIDE ARM CHAIRS,
                        METAL FILING CABINETS, PAPER CUTTER, OFFICE SUPPLIES,
                        MICROWAVE, MICRO DESIGN
                        1000 MICROFICHE READER, REFRIGERATOR, MICRO MART MODEL
                        486 DX-33 COMPUTER, MICRO MART PENTIUM 100 COMPUTER,
                        PRINTRONIX HEAVY DUTY WIDE BAND PRINTER MODEL P3040,
                        PRINTEK FORMS PRO 4003, EPSON FX-11170 PRINTER, HP FAX
                        cont'd on next page
------------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                               $117,000.00        $143,500.00         $170,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 68

GREENWICH INDUSTRIAL SERVICES, LLC
APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #       ID#                          DESCRIPTION                                    FLV               FMV           FMVIP
------------------------------------------------------------------------------------------------------------------------------------
 FINANCE (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
                         (cont'd from previous page)
                         900 MACHINE, (4) HP LASER JET PRINTERS 4L, (2) HP LASER
                         JET PRINTERS 4, (2) GATEWAY 2000 4SX-33 COMPUTERS,
                         GATEWAY 2000 4DX2-66, (3) AST ADVANTAGE 623 PENTIUM
                         COMPUTERS, CD ROM, ALANTRA PENTIUM COMPUTER, COMPAQ
                         PRESARIO 7222 COMPUTER
------------------------------------------------------------------------------------------------------------------------------------
BOARD ROOM
------------------------------------------------------------------------------------------------------------------------------------
    355                  MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:           $6,000.00          $8,000.00    $10,000.00
                         WOODEN "U" SHAPED EXECUTIVE CONFERENCE TABLE W /
                         APPROXIMATELY (26) MATCHING UPHOLSTERED SIDE CHAIRS,
                         MATCHING SIDE CREDENZAS, GLASS DISPLAY CASES, OVERHEAD
                         PROJECTOR,  PLANTS,
                         ARTWORK, MARKER BOARD, COMPLETE STEREO SYSTEM,
                         TELEVISION, SPEAKERS, PODIUM
------------------------------------------------------------------------------------------------------------------------------------
SIDE OFFICE / COMPUTER TRAINING
------------------------------------------------------------------------------------------------------------------------------------
    356                  WOODEN EXECUTIVE FURNITURE SET INCLUDING WOODEN DESK,           $2,000.00          $3,000.00     $4,000.00
                         CREDENZA, BOOKCASE, FILING CABINETS, SWIVEL CHAIR, SIDE
                         CHAIRS, ALANTRA PC'S PENTIUM COMPUTER, GOLDSTAR
                         MONITOR, HP DESK JET 660C PRINTER,
                         GATEWAY 2000 4DX2-66, (2) EPSON FX-1170 PRINTER,
                         APPROXIMATELY (8) MONITORS, FORMICA TOP TABLES, SIDE
                         CHAIRS
------------------------------------------------------------------------------------------------------------------------------------
                         PAGE TOTAL                                                      $8,000.00         $11,000.00    $14,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 69

GREENWICH INDUSTRIAL SERVICES, LLC
APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #       ID#                          DESCRIPTION                                FLV               FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
COMMUNICATIONS
------------------------------------------------------------------------------------------------------------------------------------
    357                  MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:       $7,500.00         $10,000.00     $12,500.00
                         METAL DESKS, SWIVEL CHAIRS, REFRIGERATOR, HAND TOOLS,
                         LOCKERS, WIRE CRIMPERS, WOODEN DESK, MARKER BOARD,
                         COMPUTER WORKSTATIONS, (3) GATEWAY 2000
                         4DX-33 COMPUTERS, ZENITH 386 & 486 COMPUTERS, (2)
                         ZEBRA  140 LABEL PRINTER MODEL 43CRT1, S/N 860520,
                         DATAMAX DMX800 LABEL PRINTERS, (4) PRINTRONIX HIGH
                         SPEED FORM FED PRINTERS, EPSON LQ2550 PRINTER, DATA
                         PRODUCTS HIGH SPEED FORM FED PRINTER (NOT IN SERVICE)

    358       16148      COMPLETE NORTHERN TELECOM PHONE SYSTEM INCLUDING:          $15,000.00         $30,000.00     $50,000.00
                         POWER CONTROL PANEL,  APPROXIMATELY (500) LINES, (200)
                         HANDSETS, ALCATEL INDETEL C-CAN POWER SYSTEMS CONTROLS,
                         FARINON INCLUDING HARRIS MULTIPLEXOR BOWMAR
                         DIGITAL CARRIER ANALYSIS MODEL #2738-1  MERIDIAN 1
                         NETWORK GROUP, POWER SUPPLIES, CISCO 4000 ROUTERS,
                         NORTHERN TELECOMM HIGH SPEED MODEMS
------------------------------------------------------------------------------------------------------------------------------------
                         PAGE TOTAL                                                 $22,500.00         $40,000.00     $62,500.00
------------------------------------------------------------------------------------------------------------------------------------

Page 70

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                             FLV               FMV             FMVIP
------------------------------------------------------------------------------------------------------------------------------------
EXECUTIVE OFFICES
------------------------------------------------------------------------------------------------------------------------------------
    359         COMPLETE MATCHING EXECUTIVE OFFICE SETS INCLUDING:                 $12,000.00        $15,000.00       $20,000.00
                WOODEN DESKS, CREDENZAS, BOOKCASES, COMPUTER
                WORKSTATIONS, CONFERENCE ROOM TABLES, HIGH-BACK
                UPHOLSTERED SWIVEL CHAIRS, MATCHING UPHOLSTERED SIDE
                ARM CHAIRS, REFRIGERATOR, MARKER BOARDS, COAT RACKS,
                HALF BATHROOMS, PLANTS, ARTWORK, COMPLETE STEREO SYSTEM
                W/ GLASS SHELVING, WOODEN FILING CABINETS, PAPER
                SHREDDER, FANS, VARIOUS TELEVISION SETS, 14" FORMICA
                TOP CONFERENCE ROOM TABLE W/ APPROXIMATELY (15)
                MATCHING SIDE CHAIRS, OVERHEAD PROJECTOR, (5) MICRO
                MART PENTIUM COMPUTER W / GOLDSTAR MONITOR, COMPAQ
                PRESARIO COMPUTER MODEL 7222, NEC MULTISYNC 21" COLOR
                MONITOR MODEL XE2, HP DESK JET 694C PRINTER, HP DESK
                JET 820CSE PRINTER, (2) HP LASER JET 4L PRINTER,
                RICOH FAX 3500L, PANASONIC KX-F1000 FAX MACHINE,
                GATEWAY PC P5-166 W / APC 1250 BACK-UPS, GATEWAY 2000
                VIVITRON 17" COLOR MONITOR, HP DESK JET 660C PRINTER,
                HP DESK JET 855CSE PRINTER, IBM CLONE 75 MHJZ PENTIUM PC

------------------------------------------------------------------------------------------------------------------------------------
                PAGE TOTAL                                                         $12,000.00        $15,000.00       $20,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 71

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                             FLV               FMV             FMVIP
------------------------------------------------------------------------------------------------------------------------------------
ACCOUNTING OFFICE AREA / PAYROLL
------------------------------------------------------------------------------------------------------------------------------------
    360         MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:           $4,000.00          $6,000.00         $ 7,000.00
                WOODEN DESKS, SWIVEL CHAIRS, COMPUTER WORKSTATIONS,
                WOODEN FILING CABINETS, METAL SHELVING, MICROWAVE,
                BOOKSHELVES, CREDENZAS, (2) PM STEEL SAFES, SENTRY
                SAFE, LATERAL FILE CABINETS, (6) 486 PERSONAL
                COMPUTERS W/ MONITOR, (2) MICRO MART PERSONAL
                COMPUTERS 486, (2) COMPAQ PRESARIO 7222, COMTRADE
                PERSONAL COMPUTER, GATEWAY 2000 4DX2-66, HP DESK
                JET PRINTER 660C, (2) HP LASER JET 4L PRINTERS, HP
                DESK JET 682C, LQ-870, ALPS P2000G PRINTER, (3)
                PRINTRONIX HIGH SPEED PRINTERS, EPSON LQ 2550, MOORE
                1600 DECOLATOR

------------------------------------------------------------------------------------------------------------------------------------
TRAINING AREA
------------------------------------------------------------------------------------------------------------------------------------

    361         MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:           $2,000.00          $2,500.00         $ 3,000.00
                APPROXIMATELY (65) PLASTIC CHAIRS, FORMICA TOP TABLES,
                MARKER BOARDS, EASELS, (3) LARGE SCREEN T.V., SIDE ARM
                CHAIRS, WOODEN ROUND TABLE, DESK, FILING CABINETS,
                BOOKSHELF, 486 PERSONAL COMPUTER, HP DESK JET 560C
                PRINTER, HP DESK JET 660C PRINTER, ALANTRA PENTIUM
                COMPUTER

------------------------------------------------------------------------------------------------------------------------------------
                PAGE TOTAL                                                      $6,000.00          $8,500.00         $10,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 72

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                             FLV               FMV             FMVIP
------------------------------------------------------------------------------------------------------------------------------------
PRODUCTION OFFICE
------------------------------------------------------------------------------------------------------------------------------------
    362             MISCELLANEOUS OFFICE EQUIPMENT INCLUDING BUT NOT             $ 4,000.00         $ 5,000.00          $ 6,000.00
                    LIMITED TO:  MATCHING EXECUTIVE OFFICE SET INCLUDING:
                    DESK, CREDENZA, 12' CONFERENCE ROOM TABLE, SIDE ARM
                    CHAIRS, FILING CABINETS, LARGE SCREEN T.V., PORTABLE
                    MARKER BOARD, METAL DESKS, COMPAQ DESK PRO COMPUTER,
                    (2) GATEWAY 2000 4DX-33, (2) GATEWAY 2000 4DX2-66, (2)
                    HP LASER JET 4L PRINTERS, HP

------------------------------------------------------------------------------------------------------------------------------------
AGE / LIFE TESTING
------------------------------------------------------------------------------------------------------------------------------------

    363             MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT            $ 3,000.00         $ 4,000.00          $ 6,000.00
                    LIMITED TO:  HI-POT TESTER, BANDING CART, OVERHEAD
                    BRIDGE W /(2) 300 LB CAPACITY VACUUM LIFTS, METAL &
                    WOODEN DESKS, FILING CABINETS, SHELVING, FANS, POWER
                    SUPPLIES, SOUND BOOTH ENCLOSURES, DEGAUSSING MACHINE,
                    EPSON FX1170 PRINTER, HP DESK JET 560C

    364   16149     (1997) ESPEC ENVIRONMENTAL TEST CHAMBER MODEL                $55,000.00         $70,000.00          $75,000.00
                    #EWPH1009-5JA, S/N 303027 COMPLETE W / (2) COMPRESSORS,
                    CIRC. MOTOR, WIRE HEATER, HUMIDITY HEATER, REFRIGERANT
                    TEMP RANGE-65 TO 85 DEGREES C W / MODEL 600 DIGITAL
                    TOUCH PAD CONTROLS, HONEYWELL CHART RECORDER, (NOT IN
                    SERVICE), HEATHCRAFT BOHN REFRIGERATION CONDENSER MODEL
                    #RBH061, S/N T97J01738, 1 1/2 HP MOTORS, (4) FANS,
                    (NOT INSTALLED)

------------------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                   $62,000.00         $79,000.00          $87,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 73

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                             FLV               FMV             FMVIP
------------------------------------------------------------------------------------------------------------------------------------
OUTSIDE (MECHANICALS)
------------------------------------------------------------------------------------------------------------------------------------
    365       16092    CUSTOM DESIGNED DUST COLLECTION SYSTEM COMPLETE W/          $10,000.00        $18,000.00      $25,000.00
                       BLOWER, MODEL H / HP-3-090-6-1-1, MAX RPM 1235, S/N
                       N/A, COMPLETE W/ DRIVE MOTORS, ALUMINUM PIPING, METAL
                       CONSTRUCTION HOPPERS, STEEL FRAME, AUGER CONVEYOR,
                       ASSOCIATED DUCT WORK, AND EQUIPMENT

    366       16093    CUSTOM DESIGNED DUST COLLECTION SYSTEM COMPLETE W/          $10,000.00        $18,000.00      $25,000.00
                       BLOWER, MODEL H / HP-3-090-6-1-1, MAX RPM 1235, S/N
                       4261-A056 COMPLETE W/ DRIVE MOTORS, ALUMINUM PIPING,
                       METAL CONSTRUCTION HOPPERS, STEEL FRAME, AUGER
                       CONVEYOR, ASSOCIATED DUCT WORK AND EQUIPMENT

    367       16094    CUSTOM DESIGNED DUST COLLECTION SYSTEM COMPLETE W/          $10,000.00         $18,000.00     $25,000.00
                       BLOWER, MODEL H / HP-3-090-6-1-1, MAX RPM 1235, S/N
                       4261-A056 COMPLETE W/ DRIVE MOTORS, ALUMINUM PIPING,
                       METAL CONSTRUCTION HOPPERS, STEEL FRAME, AUGER
                       CONVEYOR, ASSOCIATED DUCT WORK AND EQUIPMENT

------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                  $30,000.00         $54,000.00     $75,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 74

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                               FLV               FMV             FMVIP
------------------------------------------------------------------------------------------------------------------------------------
OUTSIDE (MECHANICALS) (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    368       16095     CUSTOM DESIGNED DUST COLLECTION SYSTEM COMPLETE W/          $10,000.00       $18,000.00      $ 25,000.00
                        BLOWER, MODEL H / HP-3-090-6-1-1, MAX RPM 1235, S/N
                        4261-A056 COMPLETE W/ DRIVE MOTORS, ALUMINUM PIPING,
                        METAL CONSTRUCTION HOPPERS, STEEL FRAME, AUGER
                        CONVEYOR,  ASSOCIATED DUCT AND EQUIPMENT

    369       16096     SUTORBILT ROTARY POSITIVE BLOWER, S/N 9430F031              $ 5,000.00       $ 7,000.00      $ 10,000.00

    370       16097     AIR TECH SCRAP SEPARATING SYSTEM COMPLETE W / DRIVE         $10,000.00       $15,000.00      $ 20,000.00
                        MOTORS, VIBRATORY SCREEN HOPPER, AUGER CONVEYOR,
                        MAGNETIC SEPARATOR

    371       16169     BOBCAT SKID STEER, S/N N/A                                  $ 5,000.00       $ 6,000.00      $  7,000.00

    372       16170     NICHOLAS BALER W / CONTROL CONSOLE, S/N 9747                $ 1,000.00       $ 1,250.00      $  1,500.00

    373       16171     PIQUA SERIES 30 BALER W / CONTROL CONSOLE                   $   750.00       $ 1,000.00      $  1,250.00

    374       16172     PHILADELPHIA TRAM RAIL BALER W / CONTROL CONSOLE            $ 1,250.00       $ 1,500.00      $  1,750.00

    375       16104     CLARK HEAVY DUTY ROUGH TERRAIN 16,000 LB CAPACITY           $25,000.00       $30,000.00      $ 35,000.00
                        FORKLIFT MODEL #RHY180S, S/N -CHY1608-46-732, PROP
                        #5221, TRIPLE MAST, OROP, 2397 HOURS

------------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                  $58,000.00       $79,750.00      $101,500.00
------------------------------------------------------------------------------------------------------------------------------------

Page 75

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                                    FLV              FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
OUTSIDE (MECHANICALS) (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    376                    STORAGE SILO UNIT W/ DRIVE -THROUGH LOADING STATION          $10,000.00       $20,000.00    $ 30,000.00
                           COMPLETE W / MOTORS, ASSOCIATED EQUIPMENT

    377       16105        FAIRBANKS / MORSE EMERGENCY GENERATOR 150 KW, MODEL          $15,000.00       $20,000.00    $ 25,000.00
                           C6CT, ROLLS ROYCE MOTOR, S/N 14109PO/M5, W / CONTROL
                           PANEL FAIRBANKS MORSE MODEL PGY S/N X24-4785, 1800 RPM

    378       16098        CUSTOM DUST COLLECTION SYSTEM COMPLETE W/ BLOWER,            $ 5,000.00       $10,000.00    $ 15,000.00
                           ASSOCIATED DUCT WORK, HOPPER, AUGER CONVEYOR,
                           ASSOCIATED EQUIPMENT

    379       16099        CUSTOM DUST COLLECTION SYSTEM COMPLETE W/ BLOWER,            $15,000.00       $22,500.00    $ 35,000.00
                           ASSOCIATED DUCT WORK, HOPPER, AUGER CONVEYOR,
                           ASSOCIATED EQUIPMENT, COMPLETE W/ BUFFALO BLOWER,
                           GRAVITY FEED LOADING MECHANISM, VACUUM FEEDER

    380       16100        CUSTOM DUST COLLECTION SYSTEM COMPLETE W/ BLOWER,            $15,000.00       $22,500.00    $ 35,000.00
                           ASSOCIATED DUCT WORK, HOPPER, AUGER CONVEYOR,
                           ASSOCIATED EQUIPMENT, COMPLETE W/ BUFFALO BLOWER,
                           GRAVITY FEED LOADING MECHANISM, VACUUM FEEDER

------------------------------------------------------------------------------------------------------------------------------------
                           PAGE TOTAL                                                   $60,000.00       $95,000.00    $140,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 76

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                                   FLV              FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
OUTSIDE (MECHANICALS) (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    381       16101        CUSTOM DUST COLLECTION SYSTEM COMPLETE W/ BLOWER,         $   15,000.00    $   22,500.00  $  35,000.00
                           ASSOCIATED DUCT WORK, HOPPER, AUGER CONVEYOR,
                           ASSOCIATED EQUIPMENT, COMPLETE W/ BUFFALO BLOWER,
                           GRAVITY FEED LOADING MECHANISM, VACUUM FEEDER

    382       16102        CUSTOM DUST COLLECTION SYSTEM COMPLETE W/ BLOWER,         $   15,000.00    $   22,500.00  $   35,000.00
                           ASSOCIATED DUCT WORK, HOPPER, AUGER CONVEYOR,
                           ASSOCIATED EQUIPMENT, COMPLETE W/ BUFFALO BLOWER,
                           GRAVITY FEED LOADING MECHANISM, VACUUM FEEDER

    383       16103        CUSTOM DUST COLLECTION SYSTEM COMPLETE W/ BLOWER,         $    7,500.00    $   12,500.00  $   20,000.00
                           ASSOCIATED DUCT WORK, HOPPER, AUGER CONVEYOR,
                           ASSOCIATED EQUIPMENT

    384                    MISCELLANEOUS SUPPORT EQUIPMENT OUTSIDE INCLUDING BUT     $    1,000.00    $    1,250.00  $    1,500.00
                           NOT LIMITED TO:  SELF DUMPING HOPPERS, WASTE BINS,
                           PALLET JACKS, FIRE EXTINGUISHERS, VACUUM FEEDERS,
                           BLOWERS

------------------------------------------------------------------------------------------------------------------------------------
                           PAGE TOTAL                                                $   38,500.00    $   58,750.00 $    91,500.00
------------------------------------------------------------------------------------------------------------------------------------


------------------------------------------------------------------------------------------------------------------------------------
                           GRAND TOTAL PLANT #43                                     $6,516,150.00    $8,326,050.00 $10,323,900.00
------------------------------------------------------------------------------------------------------------------------------------

Page 77

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                                    FLV              FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
BACK END AREA
------------------------------------------------------------------------------------------------------------------------------------
    385       15164    BOWMAN LEHR TUNNEL CONVEYOR OVEN 10 ZONES, NATURAL GAS,          $ 90,000.00     $140,000.00    $185,000.00
                       540 DEGREES C MAX. TEMPERATURE, COMPLETE W / CONTROL
                       CABINET,  CHART RECORDER,  84" CHAIN LINK CONVEYOR, AIR
                       VENTILATION EXHAUSTS, MECHANICAL DOORS, MEZZANINE, GAS
                       VALVES,

                       BLOWERS, APPROXIMATELY (60) CARRIERS, ASSOCIATED
                       EQUIPMENT, S/N 11-4350 (1995), FLEET #'S 008, 087, 137,
                       141, 142

    386       15165    ROACH LIVE ROLLER LEHR RETURN CONVEYOR, 16" X 100' W /           $ 10,000.00     $ 13,000.00    $ 17,000.00
                       DRIVE MOTORS, CONTROLS, SIDE RAIL, ASSOCIATED
                       EQUIPMENT, S/N 161337-1

    387       15174    HIRATA BACK END CARRIER CONVEYOR SYSTEM, APPROXIMATELY           $ 55,000.00     $ 90,000.00    $135,000.00
                       3000 LINEAR FEET W/ CONTROL CONSOLE, DIGITAL COUNTER,
                       (4) HIRATA ELEVATORS, OEC TESTER INSPECTION STATIONS,
                       TRANSFERS, LEAKAGE TEST STATIONS, MEZZANINE LEVEL,
                       BRIGHTNESS TEST, ASSOCIATED EQUIPMENT, FLEET #090

    388       15175    HIRATA SPUTNOCK LINE COMPLETE W/ CONTROL CONSOLE,                $  8,500.00     $ 12,000.00    $ 18,000.00
                       (BCP#7), (19) PALLETS 4 POSITIONS EACH, (5) RF
                       GENERATORS, (13) DC POWER SUPPLIES, ASSOCIATED
                       EQUIPMENT, FLEET #016

    389       15176    HIRATA CUSTOM AGING LINE COMPLETE W/ (29) CARRIERS 4             $  6,000.00     $  7,500.00    $  9,500.00
                       STATIONS EACH, CONTROL CONSOLE, ASSOCIATED EQUIPMENT,
                       45 MINUTE  CYCLE TIME

------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                       $169,500.00     $262,500.00    $364,500.00
------------------------------------------------------------------------------------------------------------------------------------

Page 78

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                                   FLV              FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
BACK END (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    390       15171      LITZLER CUSTOM VACUUM EXHAUST CONVEYOR LINE, S/N          $175,000.00       $250,000.00        $400,000.00
                         1311/3.2 COMPLETE W/ CONTROL CONSOLE, CHART RECORDER,
                         APPROXIMATELY (4.8) GALILEO VACUUM EXHAUST CARRIERS /
                         CRT PUMPING UNITS, 4 STATIONS EACH W/ PUMP, CONTROLS,
                         FIXTURES, ENCLOSURE, BLOWERS, (3) RF CONVERTERS, WATER
                         PUMPS, ULTRASONIC CLEANER, ASSOCIATED EQUIPMENT, FLEET
                         #0013

    391       15172      CUSTOM DESIGNED GETTER NECK FLASH STATION W/ PILLAR       $  5,000.00       $  8,000.00        $ 12,000.00
                         CYCLE TYPE MK., PVC TANK HOSES, ASSOCIATED EQUIPMENT,
                         FLEET #015

    392       15173      CUSTOM DESIGNED GETTER NECK FLASH STATION W/ PILLAR       $  5,000.00       $  8,000.00        $ 12,000.00
                         CYCLE TYPE MK., PVC TANK HOSES, ASSOCIATED EQUIPMENT,
                         FLEET #014

    393       15181      CUSTOM DESIGNED  A TEST INSPECTION STATIONS COMPLETE W/   $    800.00       $  1,400.00        $  2,000.00
                         ENCLOSURE, PRINTER, POWER SUPPLY, DISK DRIVE,
                         ASSOCIATED EQUIPMENT, S/N N/A

    394       15177      CUSTOM DESIGNED  A TEST INSPECTION STATIONS COMPLETE W/   $    800.00       $  1,400.00        $  2,000.00
                         ENCLOSURE, PRINTER, POWER SUPPLY, DISK DRIVE,
                         ASSOCIATED EQUIPMENT, S/N N/A

    395       15178      CUSTOM DESIGNED  A TEST INSPECTION STATIONS COMPLETE W/   $    800.00       $  1,400.00        $  2,000.00
                         ENCLOSURE, PRINTER, POWER SUPPLY, DISK DRIVE,
                         ASSOCIATED EQUIPMENT, S/N N/A

------------------------------------------------------------------------------------------------------------------------------------
                         PAGE TOTAL                                                $187,400.00       $270,200.00        $430,000.00
------------------------------------------------------------------------------------------------------------------------------------

Page 79

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                                    FLV              FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
BACK END (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    396       15179    CUSTOM DESIGNED  A TEST INSPECTION STATIONS COMPLETE W/          $   800.00         $ 1,400.00    $ 2,000.00
                       ENCLOSURE, PRINTER, POWER SUPPLY, DISK DRIVE,
                       ASSOCIATED EQUIPMENT, S/N N/A

    397       15180    CUSTOM DESIGNED  A TEST INSPECTION STATIONS COMPLETE W/          $   800.00         $ 1,400.00    $ 2,000.00
                       ENCLOSURE, PRINTER, POWER SUPPLY, DISK DRIVE,
                       ASSOCIATED EQUIPMENT, S/N N/A

    398       15182    CUSTOM DESIGNED FOCUS TEST STATION W/ TELEVISION, YOKE           $   500.00         $   800.00    $ 1,200.00
                       FIXTURE, ASSOCIATED EQUIPMENT

    399                MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT                $ 7,000.00         $11,000.00    $15,000.00
                       LIMITED TO:  PALLET JACKS, METRO STYLE STORAGE SHELVES,
                       STAINLESS STEEL INVENTORY CARTS, HAND TRUCKS, ARO PUMP
                       UNIT, WORK TABLE, STORAGE CABINETS, METRO STORAGE RACK,
                       METAL LOCKERS, VEECO VACUUM CHECK, SPOT WELDING
                       STATION, DIE LIFT TABLE

------------------------------------------------------------------------------------------------------------------------------------
WASH ROOM
------------------------------------------------------------------------------------------------------------------------------------

    400       15147    HIRATA CUSTOM TUBE WASH MACHINE COMPLETE W/ CONTROL              $25,000.00         $30,000.00    $40,000.00
                       PANEL, 17 STATION CAROUSEL CONVEYOR, PUMPS, OPERATOR
                       CONTROLS, VENTILATION PLC CONTROLS, POLY PRO &
                       STAINLESS STEEL STORAGE TANKS, DISPLAY TERMINAL METERS,
                       HF, DI WATER  ACL WASH UNIT, ASSOCIATED EQUIPMENT,
                       FLEET #001

------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                       $34,100.00         $44,600.00    $60,200.00
------------------------------------------------------------------------------------------------------------------------------------

Page 80

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #        ID#                          DESCRIPTION                                     FLV              FMV           FMVIP
------------------------------------------------------------------------------------------------------------------------------------
WASH ROOM (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    401       15148     MCGINTY CUSTOM FABRICATED CAROUSEL TUBE CONVEYOR LINE,           $   500.00       $   750.00    $  1,400.00
                        32 STATIONS, W/ BALDOR ADJUSTABLE SPEED DRIVE CONTROL,
                        ASSOCIATED EQUIPMENT, S/N 18729-2, FLEET #125

    402                 MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING:  RINSE                $ 1,000.00       $ 1,500.00    $  2,000.00
                        SHOWER, STOOL, (9) STAINLESS STEEL INVENTORY CARTS

------------------------------------------------------------------------------------------------------------------------------------
FRONT END
------------------------------------------------------------------------------------------------------------------------------------

    403       15149     HIRATA PHOSPHATE SINGLE COLOR SCREEN PRODUCTION LINE             $40,000.00       $55,000.00    $100,000.00
                        COMPLETE W/ 48 STATIONS W/ 2 UNITS EACH, ROTARY
                        CAROUSEL CONVEYOR, CONTROL CONSOLE, STAINLESS STEEL
                        CONTAINERS, DIGITAL SCALES, WATER CUSHION DISPENSER,
                        OPERATOR CONTROL BOXES, ADJUSTABLE COLOR

    404       15150     CUSTOM BUILT ROTARY HOT AIR SCREEN DRYING UNIT W/                $ 1,000.00       $ 1,500.00    $  2,500.00
                        CONTROL CONSOLE, BLOWER, HEATER, LAMPS, ASSOCIATED
                        EQUIPMENT, FLEET #126, S/N N/A

    405       15155     CUSTOM BUILT ROTARY HOT AIR SCREEN LACQUER DRYING UNIT           $ 1,000.00       $ 1,500.00    $  2,500.00
                        W/ CONTROL CONSOLE, BLOWER, HEATER, LAMPS, ASSOCIATED
                        EQUIPMENT, FLEET #127, S/N N/A

------------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                       $43,500.00       $60,250.00    $108,400.00
------------------------------------------------------------------------------------------------------------------------------------

Page 81

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #        ID#                          DESCRIPTION                                    FLV              FMV           FMVIP
------------------------------------------------------------------------------------------------------------------------------------
FRONT END (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    406       15156      CUSTOM BUILT ROTARY HOT AIR SCREEN DAG DRYING UNIT W/         $    850.00      $  1,250.00     $  2,000.00
                         CONTROL CONSOLE, BLOWER, HEATER, LAMPS, ASSOCIATED
                         EQUIPMENT, FLEET #128, S/N N/A

    407       15151      HIRATA AUTOMATED LACQUER PRODUCTION LINE COMPLETE W/          $ 70,000.00      $ 95,000.00     $140,000.00
                         (8) STATIONS, ROTARY HEAD DRIVE PANEL, CONTROL CONSOLE,
                         STAINLESS STEEL HARDWARE, PUMPS, OPERATOR CONTROL
                         PANELS, STAINLESS STEEL CONTAINERS, CITY WATER, FLEET
                         #3, ASSOCIATED EQUIPMENT

    408       15152      MCGINTY 35" BELT CONVEYOR W/ (5) LANES W/ POLY                $    600.00      $    800.00     $  1,000.00
                         DIVIDERS, BALDOR ADJUSTABLE SPEED DRIVE, S/N 18728-1,
                         FLEET #133

    409       15153      CUSTOM BUILT PEDESTAL STYLE TUBE WASH UNIT, W/ PUMP,          $    700.00      $  1,100.00     $  1,600.00
                         CONTROLS, ASSOCIATED EQUIPMENT, FLEET #172

    410       15158      GALILEO VACUUM TEC CRT ALUMINIZING CARTS, 4 STATION           $ 30,000.00      $ 40,000.00     $ 50,000.00
                         COMPLETE W/ STAINLESS STEEL HARDWARE, TOUCH PAD SCREEN,
                         DIGITAL DISPLAY, ASSOCIATED EQUIPMENT, S/N 04, (1995),
                         FLEET #004

    411       15159      GALILEO VACUUM TEC CRT ALUMINIZING CARTS, 4 STATION           $ 30,000.00      $ 40,000.00     $ 50,000.00
                         COMPLETE W/ STAINLESS STEEL HARDWARE, TOUCH PAD SCREEN,
                         DIGITAL DISPLAY, ASSOCIATED EQUIPMENT, S/N 02, (1995),
                         FLEET #005

------------------------------------------------------------------------------------------------------------------------------------
                         PAGE TOTAL                                                    $132,150.00      $178,150.00     $244,600.00
------------------------------------------------------------------------------------------------------------------------------------

Page 82

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #        ID#                         DESCRIPTION                                  FLV               FMV            FMVIP
------------------------------------------------------------------------------------------------------------------------------------
FRONT END (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    412       15160     GALILEO VACUUM TEC CRT ALUMINIZING CARTS, 4 STATION          $30,000.00         $40,000.00    $ 50,000.00
                        COMPLETE W/ STAINLESS STEEL HARDWARE, TOUCH PAD SCREEN,
                        DIGITAL DISPLAY, ASSOCIATED EQUIPMENT, S/N 03, (1995),
                        FLEET #006

    413       15161     GALILEO VACUUM TEC CRT ALUMINIZING CARTS, 4 STATION          $30,000.00         $40,000.00    $ 50,000.00
                        COMPLETE W/ STAINLESS STEEL HARDWARE, TOUCH PAD SCREEN,
                        DIGITAL DISPLAY, ASSOCIATED EQUIPMENT, S/N 01, (1995),
                        FLEET #007

    414       15162     CUSTOM OPTICAL INSPECTION STATION W/ LIGHT FIXTURE,          $   500.00         $   850.00    $  1,200.00
                        PERSONAL COMPUTER, ASSOCIATED EQUIPMENT

    415       15154     CUSTOM BUILT DUAL STATION INTERNAL DAG APPLICATION           $   500.00         $   800.00    $  1,200.00
                        STATION, W/ PNEUMATIC HOLDER,  ROTARY HEAD, CONTROL
                        CONSOLE, ASSOCIATED EQUIPMENT

    416       15157     HIRATA CUSTOM TUBE EXIT CONVEYOR SYSTEM COMPLETE W/          $ 3,500.00         $ 5,000.00    $  7,500.00
                        BLOCK, CONTROL PANEL, CARRIER, CONVEYOR UNIT, (2)
                        HIRATA ELEVATORS, (30) CARRIERS, ASSOCIATED EQUIPMENT

    417                 MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT            $ 2,500.00         $ 3,500.00    $  4,500.00
                        LIMITED TO:  (3) STAINLESS STEEL MIXING STATIONS,
                        PUMPS, AGITATORS, WORK TABLES, POLYPRO STORAGE TANKS,
                        STOOLS, (6) STAINLESS STEEL INVENTORY CARTS, STORAGE
                        CABINET

------------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                   $67,000.00         $90,150.00    $114,400.00
------------------------------------------------------------------------------------------------------------------------------------

Page 83

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #        ID#                           DESCRIPTION                                    FLV              FMV           FMVIP
------------------------------------------------------------------------------------------------------------------------------------
ENGINEERING
------------------------------------------------------------------------------------------------------------------------------------
    418       15163      JONES & LAMSON 14" OPTICAL COMPARATOR, MODEL #PC-14A,           $ 2,500.00        $ 3,000.00    $ 3,500.00
                         PROP #4194

    419                  MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT               $ 3,000.00        $ 4,000.00    $ 5,000.00
                         LIMITED TO:  DESKS, CHAIRS, CONFERENCE TABLE, WORK
                         TABLE, 36" X 36" GRANITE SURFACE PLATE, HEIGHT GAUGE,
                         CARTS, STORAGE CABINETS, GATEWAY PENTIUM 75 PC, GATEWAY
                         PENTIUM 90 PC, GATEWAY C1185486/33 PC, HP LASER JET 5L
                         PRINTER

------------------------------------------------------------------------------------------------------------------------------------
GUN SEALING ROOM
------------------------------------------------------------------------------------------------------------------------------------

    420       15166      HIRATA AUTOMATED GUN SEALING MACHINE 12 STATIONS, GAS           $50,000.00        $60,000.00    $75,000.00
                         FIRED COMPLETE W/ CONTROL CONSOLE, DISPLAY TERMINAL,
                         CAROUSEL CONVEYOR, TORCHES, METERS, GAUGES, OPERATOR
                         CONTROL BOXES, ASSOCIATED EQUIPMENT, FLEET #10,91

    421       15167      MCGINTY CUSTOM BUILT MONORAIL CONVEYOR SYSTEM W/ BALDOR         $ 1,000.00        $ 1,500.00    $ 2,500.00
                         ADJUSTABLE SPEED DRIVE CONTROL, HARDWARE, FRAMING,
                         APPROXIMATELY 20 CARRIERS, ASSOCIATED EQUIPMENT, S/N
                         18729-3

    422       15168      CUSTOM DESIGNED CARRIER CONVEYOR SYSTEM W/ ELEVATORS,           $ 1,000.00        $ 2,000.00    $ 3,000.00
                         TRANSFER UNIT, INSPECTION STATION

    423       15169      CUSTOM DESIGNED BULB CLEANING AND DRYING STATION W/             $   650.00        $   950.00    $ 1,400.00
                         CONTROLLERS, BLOWERS, ASSOCIATED PNEUMATICS, FLEET #144
------------------------------------------------------------------------------------------------------------------------------------
                         PAGE TOTAL                                                      $58,150.00        $71,450.00    $90,400.00
------------------------------------------------------------------------------------------------------------------------------------

Page 84

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #        ID#                           DESCRIPTION                                   FLV              FMV           FMVIP
------------------------------------------------------------------------------------------------------------------------------------
GUN SEALING ROOM (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    424       15170       DEXON LAMINAR FLOW GUN STORAGE CABINET, S/N 28859            $1,000.00       $ 1,300.00      $ 1,600.00

    425                   MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING:  ASSEMBLY         $  600.00       $ 1,200.00      $ 1,900.00
                          JIG, SHOP VACUUM, WORK PLATFORM, HOSES

------------------------------------------------------------------------------------------------------------------------------------
GUN ROOM
------------------------------------------------------------------------------------------------------------------------------------

    426       15183       CUSTOM GUN SPOT WELD STATIONS COMPLETE W/ FIXTURE,           $1,200.00       $ 1,600.00      $ 2,300.00
                          CONTROLLER, (2) TRANSFORMERS, ASSOCIATED EQUIPMENT

    427       15184       CUSTOM GUN SPOT WELD STATIONS COMPLETE W/ FIXTURE,           $1,200.00       $ 1,600.00      $ 2,300.00
                          CONTROLLER, (2) TRANSFORMERS, ASSOCIATED EQUIPMENT

    428       15185       CUSTOM GUN SPOT WELD STATIONS COMPLETE W/ FIXTURE,           $1,200.00       $ 1,600.00      $ 2,300.00
                          CONTROLLER, (2) TRANSFORMERS, ASSOCIATED EQUIPMENT

    429       15186       CUSTOM GUN SPOT WELD STATIONS COMPLETE W/ FIXTURE,           $1,200.00       $ 1,600.00      $ 2,300.00
                          CONTROLLER, (2) TRANSFORMERS, ASSOCIATED EQUIPMENT

    430       15187       BLUE-M LAB OVEN MODEL PCM-7-25C, S/N N/A, W/ DIGITAL         $2,000.00       $ 2,500.00      $ 3,000.00
                          CONTROL CONSOLE, ASSOCIATED EQUIPMENT, FLEET #140

------------------------------------------------------------------------------------------------------------------------------------
                          PAGE TOTAL                                                   $8,400.00       $11,400.00      $15,700.00
------------------------------------------------------------------------------------------------------------------------------------

Page 85

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #        ID#                          DESCRIPTION                                FLV                FMV                FMVIP
------------------------------------------------------------------------------------------------------------------------------------
GUN ROOM (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    431                    MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING:  RINSE            $ 2,500.00        $ 3,500.00     $ 5,000.00
                           STATION, (2) ULTRASONIC BATHS, STORAGE CABINETS,
                           FOREMAN'S DESK, (4) HEPA FILTERS, RINSE HOLDERS,
                           STAINLESS STEEL TABLES, PUMPS, ASSOCIATED EQUIPMENT

------------------------------------------------------------------------------------------------------------------------------------
SALVAGE
------------------------------------------------------------------------------------------------------------------------------------
    432       15188        LITTON NECK SEALING LATHE W/ FACE-PLATE, TORCHES,            $13,000.00        $17,500.00     $23,000.00
                           TAILSTOCK, ASSOCIATED EQUIPMENT, S/N 963

    433       15189        LITTON NECK SEALING LATHE W/ FACE-PLATE, TORCHES,            $15,000.00        $22,000.00     $27,000.00
                           TAILSTOCK, ASSOCIATED EQUIPMENT, S/N N/A

    434       15190        WOODLAND NECK CUTTING LATHE MODEL #TV-27, RENECKING,         $ 4,000.00        $ 6,000.00     $ 8,000.00
                           S/N 3526-R W/ TORCHES, POWER TAILSTOCK, FACE PLATE,
                           ASSOCIATED EQUIPMENT

    435                    MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT            $   600.00        $   800.00     $ 1,000.00
                           LIMITED TO:  (2) BUTCHER BLOCK TABLES, PRE-HEATERS,
                           STOOLS

------------------------------------------------------------------------------------------------------------------------------------
DOCUMENT CONTROL OFFICE
------------------------------------------------------------------------------------------------------------------------------------
    436                    FORMICA FOLDING TABLE, DESK, SWIVEL CHAIR, (5) VERTICAL      $ 1,500.00        $ 2,000.00     $ 2,500.00
                           FILE CABINETS, STORAGE CABINETS, GATEWAY PENTIUM PC
                           133, HP LASER JET 5L PRINTER

------------------------------------------------------------------------------------------------------------------------------------
                           PAGE TOTAL                                                   $36,600.00        $51,800.00     $66,500.00
------------------------------------------------------------------------------------------------------------------------------------

Page 86

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #        ID#                          DESCRIPTION                                FLV                FMV                FMVIP
------------------------------------------------------------------------------------------------------------------------------------
BURN-IN AREA
------------------------------------------------------------------------------------------------------------------------------------
    437       15191     (7) TUBE BURN-IN STORAGE RACKS, 12 PER SIDE DOUBLE, TV         $  500.00       $ 1,000.00       $ 2,000.00
                        BOARDS, ASSOCIATED EQUIPMENT

------------------------------------------------------------------------------------------------------------------------------------
ELECTRONIC SHOP
------------------------------------------------------------------------------------------------------------------------------------
    438                 MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT              $2,000.00       $ 2,750.00       $ 3,500.00
                        LIMITED TO:  (2) BUTCHER BLOCK WORK TABLES, VOLTAGE
                        REGULATOR, POWER SUPPLIES, TEKTRONIX 2213A STORAGE
                        OSCILLOSCOPE, 60 MHZ, WELLER SOLDER GUN, ZENITH PC,
                        WORK TABLE,  TEST FIXTURES, COLOR INSPECTION UNIT, HEAT
                        GUN

------------------------------------------------------------------------------------------------------------------------------------
CAFETERIA
------------------------------------------------------------------------------------------------------------------------------------
    439                 MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT              $3,500.00       $ 4,250.00       $ 5,000.00
                        LIMITED TO:  FOLDING TABLES, FOLDING CHAIRS, SERVICE
                        COUNTERS, COOLER DISPENSERS, NCR DIGITAL CASH REGISTER,
                        STAINLESS STEEL TABLES, BURNER OVEN

    440       15192     VICTORY STAINLESS STEEL DOUBLE DOOR REFRIGERATOR, S/N          $1,600.00       $ 2,100.00       $ 2,500.00
                        N/A

    441       15193     VICTORY STAINLESS STEEL SINGLE DOOR REFRIGERATOR, S/N          $  700.00       $ 1,000.00       $ 1,250.00
                        N/A

    442       15194     VICTORY STAINLESS STEEL PROOFING CABINET                       $  500.00       $   750.00       $ 1,000.00

------------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                     $8,800.00       $11,850.00       $15,250.00
------------------------------------------------------------------------------------------------------------------------------------

Page 87

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #        ID#                          DESCRIPTION                                FLV                FMV                FMVIP
------------------------------------------------------------------------------------------------------------------------------------
WAREHOUSE
------------------------------------------------------------------------------------------------------------------------------------
    443       15195    CLARK ELECTRIC 3 WHEEL FORKLIFT MODEL #TM15S, 2500 LB       $ 4,000.00      $ 4,500.00      $ 5,000.00
                       CAPACITY W/ OROP, SOLID TIRES, TRIPLE MAST, SIDE SHIFT,
                       S/N 10779091FB

    444                MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT           $ 4,500.00      $ 5,250.00      $ 6,000.00
                       LIMITED TO:  (3) ACID STORAGE CONTAINERS, CAGES,
                       FLAMMABLE STORAGE CABINET, CATCH BASINS, STRAPPING
                       CART, METRO STYLE STORAGE SHELVE, (2) 8' MEDIUM DUTY
                       PALLET RACKING, (14) 10' MEDIUM DUTY PALLET RACKING

------------------------------------------------------------------------------------------------------------------------------------
MAINTENANCE SHOP
------------------------------------------------------------------------------------------------------------------------------------
    445       15196    BRIDGEPORT VERTICAL MILLING MACHINE W/ 9 X 42" TABLE,       $ 4,000.00      $ 4,500.00      $ 5,000.00
                       VARIOUS SPEED, BAUSCH & LOMB ACCU-RITE 2 AXIS DRO,
                       MILLING VICE, S/N 154237

    446       15198    SHELDON ENGINE LATHE: MODEL #GR-72-P W/ 3 JAW CHUCK,        $ 4,000.00      $ 5,000.00      $ 6,000.00
                       TAILSTOCK, ALORIS TOOLPOST, THREAD DIAL, S/N 27659,
                       PROP #10311

    447       15199    HARDINGE SECONDARY OPERATION LATHE MODEL #HLV-H W/          $ 7,000.00      $ 7,500.00      $ 8,000.00
                       QUICK CHANGE, COLLET, TAILSTOCK, BAUSCH & LOMB
                       ACCU-RITE II 2 AXIS DRO, S/N HLV-H-5685-L

    448       15200    DOALL 6 X 12" SURFACE GRINDER MODEL #VS612, 6 X 12"         $   900.00      $ 1,400.00      $ 1,800.00
                       ELECTRO MAGNETIC CHUCK, 355-81732

------------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                  $24,400.00      $28,150.00      $31,800.00
------------------------------------------------------------------------------------------------------------------------------------

Page 88

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
ITEM #        ID#                          DESCRIPTION                                FLV                FMV                FMVIP
------------------------------------------------------------------------------------------------------------------------------------
MAINTENANCE SHOP (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
    449       15201       GENIE MECHANICAL AERIAL WORK PLATFORM, MODEL #SL-20,        $   600.00      $   900.00      $ 1,200.00
                          S/N 595-05821

    450                   MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT           $ 3,000.00      $ 4,000.00      $ 5,000.00
                          LIMITED TO:  GRANITE SURFACE PLATE, STORAGE SHELVES,
                          STORAGE CABINETS, CHUCKS, INDEXING FIXTURES, BRIDGEPORT
                          15" ROTARY TABLE, (2) DRILL PRESSES, DOUBLE ENDED
                          PEDESTAL GRINDERS, H -FRAME SHOP PRESS, LINCOLN AC-225
                          GLM ARC WELDER, WORK TABLES,

------------------------------------------------------------------------------------------------------------------------------------
STORAGE AREA
------------------------------------------------------------------------------------------------------------------------------------
    451                   DESKS, SWIVEL CHAIRS, METAL STORAGE CABINETS, TOOL          $12,000.00      $15,000.00      $18,500.00
                          BOXES, DAYTON WIRE FEEDER, TOOL BINS, LADDERS, WELDING
                          CART, PUMPS, STAINLESS STEEL STORAGE CONTAINER, MILLER
                          WELDER, SCALES, MIXERS, BARREL CONTAINER, SPARE PARTS,
                          SUPPLIES, ABRASIVE CUT-OFF SAW

------------------------------------------------------------------------------------------------------------------------------------
MIXING AREA
------------------------------------------------------------------------------------------------------------------------------------
    452       15202       BUCK SCIENTIFIC A.A. SPECTROPHOTOMETER MODEL #210VGP W/     $ 5,000.00      $ 6,000.00      $ 7,000.00
                          CONTROL CONSOLE, S/N 252

------------------------------------------------------------------------------------------------------------------------------------
                          PAGE TOTAL                                                  $20,600.00      $25,900.00      $31,700.00
------------------------------------------------------------------------------------------------------------------------------------

Page 89

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                                FLV            FMV               FMVIP
---------------------------------------------------------------------------------------------------------------------------------
MIXING AREA (CONT'D)
---------------------------------------------------------------------------------------------------------------------------------
    453                 MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT          $ 4,000.00       $ 5,000.00        $ 7,000.00
                        LIMITED TO:  STORAGE CABINETS, DESKS, SWIVEL CHAIRS,
                        PUMPS, ZENITH PC, VENTILATION HOOD, SINK, METTLER AG104
                        DIGITAL BALANCE, LAB CABINETS, CORROSIVE CABINET,
                        ASSOCIATED CENTRA CENTRIFUGE, MODEL#720 SAMPLER,
                        NUOVA HOT PLATE, MIXER, VWR VACUUM OVEN, STAINLESS STEEL
                        TABLES, (3) PHOSPHATE MIXING STATIONS, BLENDERS, TIMER,
                        OHAUS DIGITAL SCALES, FLAMMABLE STORAGE CABINET

---------------------------------------------------------------------------------------------------------------------------------
ACID WASH
---------------------------------------------------------------------------------------------------------------------------------
    454                 MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT          $ 1,000.00       $ 1,500.00        $ 2,000.00
                        LIMITED TO:  (2) POLYPRO WASH STATIONS, DRYERS,
                        STAINLESS STEEL MIXING TANK, RINSE SHOWER, VENTILATION
                        UNIT TABLE, STORAGE CABINETS, CUSTOM LENS POLISHERS,
                        PUMPS, INVENTORY CART

---------------------------------------------------------------------------------------------------------------------------------
MECHANICAL SERVICES ROOM
---------------------------------------------------------------------------------------------------------------------------------
    455     15203       GORDON PLATT CB PACKAGE BOILER MODEL                       $ 8,500.00       $12,000.00        $17,000.00
                        #WFL12-5-G-75/2594, S/N N/A NATURAL GAS W/ BURNER,
                        PUMPS, STORAGE TANK, ASSOCIATED EQUIPMENT, FLEET #96

---------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                 $13,500.00       $18,500.00        $26,000.00
---------------------------------------------------------------------------------------------------------------------------------

Page 91

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                                FLV              FMV            FMVIP
---------------------------------------------------------------------------------------------------------------------------------
MECHANICAL SERVICES ROOM (CONT'D)
---------------------------------------------------------------------------------------------------------------------------------
    456       15204       CARRIER CHILLER UNIT MODEL #23XL4040NO60 COMPLETE W/       $ 12,000.00    $15,000.00      $ 19,000.00
                          CONTROL CONSOLE, COMFORT NETWORK DIGITAL DISPLAY,
                          MARKLEY WATER TOWER, STORAGE TANK, ASSOCIATED
                          EQUIPMENT, FLEET #'S 101, 98, 100, S/N TD6BHOOAG

    457       15205       JOY ROTARY SCREW AIR COMPRESSOR, 150 HP W/ QUAD 2000       $ 22,000.00    $26,000.00      $ 35,000.00
                          DIGITAL CONTROLS, ASSOCIATED EQUIPMENT, FLEET #'S 104,
                          112, 113, S/N X-10240

    458       15206       PNEUMATIC PRODUCTS AIR DRYER MODEL HEAT-LES, DHA, W/       $    750.00    $ 1,000.00      $  1,500.00
                          ASSOCIATED EQUIPMENT, FLEET #115

    459                   MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT          $  2,000.00    $ 3,500.00      $  5,000.00
                          LIMITED TO:  FLOOR POLISHER, SHOP VACUUM, WASTE BASKET,
                          RINSE SHOWER

    460       15209       EDC WASTE WATER TREATMENT SYSTEM COMPLETE W/ (5) POLY      $ 20,000.00    $30,000.00      $ 70,000.00
                          PROPYLENE STORAGE TANKS, PUMPS, PIPING, PH METERS,
                          VALVES, AGITATORS, FIBERGLASS TANK, (7) EDS FILTRATION
                          UNITS, W/ CONTROLS, HOLDING TANK, ULTRAVIOLET
                          DISINFECTING UNIT, TENCO WATER SEPARATION UNIT,
                          ASSOCIATED EQUIPMENT, FLEET #'S 108, 109, 110, 111,
                          106, 107

    461       15207       JWI FILTER PRESSES MODEL #J-PRESS COMPLETE W/ 21           $ 17,500.00    $22,500.00      $ 27,500.00
                          DAYLIGHTS HYDRAULIC UNIT, ASSOCIATED EQUIPMENT, S/N N/A

---------------------------------------------------------------------------------------------------------------------------------
                          PAGE TOTAL                                                 $ 74,250.00    $98,000.00      $158,000.00
---------------------------------------------------------------------------------------------------------------------------------

Page 91

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
CIUDAD JUAREZ, MX PLANT #43

APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
  ITEM #       ID#                          DESCRIPTION                                  FLV              FMV            FMVIP
----------------------------------------------------------------------------------------------------------------------------------
MECHANICAL SERVICES ROOM (CONT'D)
----------------------------------------------------------------------------------------------------------------------------------
    462       15208    JWI FILTER PRESSES MODEL #J-PRESS COMPLETE W/ 21               $   17,500.00  $   22,500.00  $    27,500.00
                       DAYLIGHTS HYDRAULIC UNIT, ASSOCIATED EQUIPMENT, S/N N/A
----------------------------------------------------------------------------------------------------------------------------------
CONFERENCE ROOM
----------------------------------------------------------------------------------------------------------------------------------
    463                10' TABLE, (8) SWIVEL CHAIRS, 3M OVERHEAD PROJECTOR,           $    2,000.00  $    2,500.00  $     3,000.00
                       ZENITH PROJECTION TV, MARKER BOARD
----------------------------------------------------------------------------------------------------------------------------------
COMMON OFFICE AREA
----------------------------------------------------------------------------------------------------------------------------------
    464                GATEWAY 2000 486/66 PC, (2) FORMICA DESKS W/ RETURN,           $    3,000.00  $    3,500.00  $     4,000.00
                       SWIVEL CHAIR, IBM TYPEWRITERS, HP DESK JET PRINTER,
                       CALCULATOR, VERTICAL FILE CABINETS, KONICA FAX MACHINE
                       MODEL 710, KONICA COPY MACHINE 1112, STORAGE CABINET,
                       CREDENZA, BOOKCASE, HIGHBACK LEATHER CHAIR, EXECUTIVE
                       DESKS, HP LASER JET 4L PRINTER, EPSON PRINTER, IBM
                       CLONE PC, GATEWAY 2000 PENTIUM 133 PC, SPEAKERS,
                       GATEWAY 2000 PENTIUM 150 PC

----------------------------------------------------------------------------------------------------------------------------------
EXECUTIVE OFFICE
----------------------------------------------------------------------------------------------------------------------------------
    465                MISCELLANEOUS FURNITURE INCLUDING:  WOOD EXECUTIVE             $    3,500.00  $    4,000.00  $     4,750.00
                       DESK, HIGHBACK SWIVEL CHAIR, (2) WOOD CLOTH ARM CHAIRS,
                       CREDENZA, TELEVISION, WALL SOFFICE EQUIPMENT
                       INCLUDING:  GATEWAY 2000 PC, TAPE DRIVE W/ GATEWAY VGA
                       MONITOR, SPEAKERS, MOUSE, APPLE MACINTOSH NOTEBOOK PC,
                       GATEWAY 2000 PENTIUM NOTEBOOK PC, HP LASER JET HL
                       PRINTERTORAGE UNIT, SECRETARIAL DESK, MISCELLANEOUS

----------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                     $   26,000.00  $   32,500.00  $    39,250.00
                       GRAND TOTAL  #72                                               $  904,350.00  $1,255,400.00  $ 1,796,700.00
                       GRAND TOTAL JUAREX #43 & #72                                   $7,420,500.00  $9,581,450.00  $12,120,600.00
----------------------------------------------------------------------------------------------------------------------------------

Page 92

EXHIBIT 99AI

ZENITH ELECTRONICS
CORPORATION
GLENVIEW, IL PLANT #31

DATE OF INSPECTIONS: MARCH 22 - APRIL 10, 1998

EFFECTIVE DATE OF VALUATION: APRIL 1, 1998

APPRAISERS: WILLIAM J. GARDNER, JR., ASA
MICHAEL J. DIPROSPERO, ASA
SCOTT C. LONKART
JAMES F. GARDNER
LEE ROBINETTE, ASA

GREENWICH INDUSTRIAL SERVICES, LLC.
611 ACCESS ROAD
STRATFORD, CONNECTICUT 06497
(203) 380-9367


TABLE OF CONTENTS

                                                                      PAGES
                                                                      -----
1.   LETTER OF TRANSMITTAL                                              1-4

2.   EQUIPMENT                                                         1-73

3.   PHOTOGRAPHS                                                      74-76

4.   CERTIFICATION                                                        I

5.   STATEMENT OF LIMITING CONDITIONS                                    II

6.   DEFINITION OF VALUE                                             III-IV

7.   DEFINITION OF CONDITIONS                                             V

8.   STATEMENT REGARDING THE AMERICAN SOCIETY OF APPRAISERS              VI


May 14, 1998

Mr. Richard Lewis
Director, Quality
Zenith Electronics Corp.
1000 Milwaukee Avenue
Glenview, IL 60025-2493

Re: Machinery and Equipment Appraisal
Zenith Electronics Corporation
Glenview, IL - Plant #31

Dear Mr. Lewis:

In accordance with your recent request, Greenwich Industrial Services conducted detailed on-site inspections between March 22 and April 10, 1998 of the machinery belonging to Zenith Electronics Corporation, located at Melrose Park, IL, Glenview, IL, Chicago Warehouse Plant #5, Chicago Plant #6, Reynosa, MX, Chihuahua, MX, Ciudad Juarez, MX, and Matamoros, MX. The appraisal consisted of on-site inspections and subsequent office review, research and analysis. The purpose of the inspections was to determine the Forced Liquidation Value, Fair Market Value and Fair Market In-Place Value for corporate decision making purposes. The effective date of this valuation is April 1, 1998.

Greenwich Industrial Services conducted a walk through inspection in February 1998, of the equipment at each of the facilities listed above. The current appraisal is mutually exclusive and supercedes any and all prior assessments. Based on the detailed nature of the current assignment and additional research conducted on the equipment, the values have been altered in numerous instances.

Zenith Electronics Corporation is an international manufacturer of televisions, cable boxes, remote controls and related products. The company has been a well-known producer of electronic components for many years and has significant name brand recognition.

The Glenview facility (Plant #31) is the corporate headquarters for Zenith Electronics. The operation includes common office space, individual executive offices, engineering and quality control labs, age/life testing, a machine shop, woodworking shop, cafeteria and miscellaneous support equipment. The building is a six story structure with a basement and seventh floor storage area, with approximately 525,000 total square feet.


Zenith Electronics Corporation
May 14, 1998

Page 2

Due to the number of floors and size of the building, the removal of office furniture and equipment would require a large supervisory team to cover all of the necessary logistics. There is a modest loading/docking area to accommodate only a small number of pieces of equipment at a time.

The equipment inspected included general office equipment including; computers, faxes, desks, office partitions and executive office furniture. The test equipment, disseminated throughout the building, included oscilloscopes, multimeters, signal and pattern generators, ovens, custom test fixtures, audio and video analyzers and miscellaneous meters and gauges. The machine shop, located on the basement level, included a very desirable selection of manual machine tools including milling machines, lathes, presses, and fabricating equipment.

The following report is a detailed break out of the equipment located at the above facility. The information contained herein is one segment in the valuation process and should be considered within the context of the overall assignment.

In appraising each of the facilities, Greenwich Industrial Services did not look at the overall business value of the corporation, nor the values of the real estate including land, building or site improvements. We did however, consider the following: workflow of the product, capability constraints, safety issues, quality controls, maintenance of the equipment, industry trends, location of the facility, current technology and overall working conditions and environment. Greenwich Industrial Services also considered all forms of obsolescence including, economic, functional and physical deterioration.

As part of our appraisal assignment, Zenith requested that we were to assist the company with a new asset identification system. The scope of that process was to tag individual pieces of equipment with an estimated liquidation value greater than $1,000. It should be noted that we were provided with stickers from the company and that not all of the equipment with values greater than $1,000 were tagged due to the nature of the equipment or the fact that it may have been in operation. The majority of office equipment was not tagged due to the inappropriate mark the stickers would make on the furniture. Upon our final review of each of the plants visited, we did notice that several of the stickers had already been removed. In the future we would suggest a stronger adhesive metal plate identification system be utilized. We also left the remaining rolls of tags with each of the Zenith facilities for identification of future acquisitions.

Since the last Walk-Through Appraisal report was published, it is important to note that a significant amount of changes have taken place including equipment being transferred to other locations within Zenith, new equipment acquisitions, new departments being added or implemented and an entire plant (Plant #70) being moved.

It is also important to note that due to the detailed aspect of this appraisal report, new discoveries were uncovered including: operating efficiencies and inefficiencies, useful


Zenith Electronics Corporation
May 14, 1998

Page 3

age/life findings on numerous key pieces of equipment and more detailed information on all forms of obsolescence present. Greenwich Industrial Services has also conducted further market analysis in order to find comparable sales of similar pieces of equipment.

The Forced Liquidation Value reflected, represents the gross amount in U.S. Dollars that, in our opinion, would be realized if the assets were sold in a forced situation at a properly advertised and conducted public sale within a 60-90 day time frame, under present economic trends. Conclusions taken into consideration are physical location, difficulty of removal, physical condition, adaptability, specialization, marketability, overall appearance and psychological appeal of the assets. Further, the ability of the asset group to draw sufficient prospective buyers to insure competitive offers is considered. All assets would be sold on a piecemeal basis "as is/where is" with purchasers responsible for removal of assets at their own risk and expense. Any deletions or additions to the package could change the psychological and/or monetary appeal necessary to obtain the value indicated.

The Fair Market Value reflected represents the most probable amount an asset should bring in a competitive and open market under all conditions requisite to a fair sale with the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus; (a) buyer and seller are typically motivated; (b) both parties are well informed or well advised, and acting in what they consider their own best interest; (c) a reasonable time is allowed for exposure to the open market; (d) payment is made in terms of cash in U.S. Dollars; and (e) the price represents the normal consideration for the asset sold, unaffected by special or creative financing, or sales concessions granted by anyone associated with the sale.

The Fair Market In-Place Value reflected represents the value of the assets in their present location assuming the facility will continue in the manufacture of its present product at a profitable level. The values reflected take into consideration all costs associated with rigging, installation, wiring, plumbing, and dismantling. Greenwich Industrial Services has not taken into consideration the financial condition, goodwill, product lines, or the future markets of Zenith Electronics Corp.

This appraisal was conducted, and the report prepared, in accordance with the attached Appraisal Definitions and Conditions, which are considered an integral part thereof. This appraisal was conducted in accordance with customary appraisal practices and represents the best judgment of the appraiser. The appraisers further state that they have no direct or indirect, present or contemplated future interest in the property appraised and that the fee for services is in no way contingent on the value shown herein.


Zenith Electronics Corporation
May 14, 1998

Page 4

                           ZENITH ELECTRONICS CORP.
                           ------------------------

GLENVIEW, IL - PLANT #31
------------------------

         TOTAL FORCED LIQUIDATION VALUE:             $3,378,525.00
         TOTAL FAIR MARKET VALUE:                    $4,382,275.00
         TOTAL FAIR MARKET IN-PLACE VALUE:           $5,881,250.00

We hereby certify that, to the best of our knowledge and belief, the statements of fact contained in this report are true and correct and this report has been prepared in conformity with the Uniform Standards of Professional Appraisal Practice of The Appraisal Foundation and the Principles of Appraisal Practice and Code of Ethics of the American Society of Appraisers.

No responsibility is assumed by the appraiser for matters which are legal in nature nor is any opinion of the title rendered herewith. This appraisal assumes good title. Any liens or encumbrances which may exist have been disregarded, as well as any delinquency in the payment of general taxes or special assessments.

We will retain a copy of this report in our files with the original field notes for a period of seven years. This company considers these reports and notes confidential, and we do not permit access to them by anyone without your authorization.

We enclose herewith our billing for services rendered. We will maintain a work file should you have any further questions.

Very truly yours,

William J. Gardner, Jr. ASA                          Michael J. DiProspero, ASA
President                                            Appraiser



James F. Gardner                                     Scott C. Lonkart
Appraiser                                            Appraiser


GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                                   FLV              FMV              FMIPV
------------------------------------------------------------------------------------------------------------------------------------
6TH FLOOR ROOM #648
-------------------
------------------------------------------------------------------------------------------------------------------------------------
   1     012000     KODAK EKTAPRINT 150 COPIER-DUPLICATOR, S/N K16-4710, W/              $2,000.00        $3,000.00        $4,500.00

                    EKTAPRINT FINISHER ID#012000

   2                MISCELLANEOUS EQUIPMENT INCLUDING: (15) METAL DESKS, SWIVEL          $2,500.00        $3,000.00        $4,500.00
                    CHAIRS, GREASE BOARDS, WORK TABLES, VERTICAL FILE CABINETS,
                    LATERAL FILE CABINETS, WOODEN DESK, ZENITH PC, HP DESKJET 660C
                    PRINTER, ZENITH TELEVISION, ROUND CONFERENCE TABLE, ARM
                    CHAIRS, STORAGE CABINET

   3                HEWLETT PACKARD LASERJET 4000                                          $250.00          $300.00          $350.00


   4                GATEWAY 2000 MODEL PS-75 PAC W/ CD ROM & SPEAKERS, ZENITH              $500.00          $600.00          $750.00
                    MONITOR

   5                GATEWAY 2000 MODEL GPS-166 PC W/ GATEWAY MONITOR                       $400.00          $500.00          $650.00

------------------------------------------------------------------------------------------------------------------------------------
ROOM 649
--------
------------------------------------------------------------------------------------------------------------------------------------

   6                OAK DESK, CREDENZA, (2) ARM CHAIRS, 4 DRAWER LATERAL FILE              $500.00          $600.00          $750.00
                    CABINET, SMALL TELEVISION, SWIVEL CHAIR

   7                GATEWAY 2000 PC MODEL PS-75 W/ MONITOR                                 $500.00          $550.00          $650.00

------------------------------------------------------------------------------------------------------------------------------------
ROOM 645
--------
------------------------------------------------------------------------------------------------------------------------------------

   8                WOODEN DESK, WOODEN CREDENZA, (2) ARM CHAIRS, SWIVEL CHAIR,            $300.00          $350.00          $500.00
                    FILE CABINET, TABLE

   9                GATEWAY PC MODEL PS-133 W/ ZENITH SVGA MONITOR                         $550.00          $600.00          $700.00

------------------------------------------------------------------------------------------------------------------------------------
ROOM 643
--------
------------------------------------------------------------------------------------------------------------------------------------

  10                WOODEN DESK W/ MATCHING CREDENZA, WOODEN BOOKSHELF, ARM CHAIR,         $600.00          $700.00          $900.00
                    SWIVEL CHAIR, ZENITH TV W/ VCR

  11                GATEWAY 2000 SOLO LAPTOP COMPUTER                                      $450.00          $500.00          $550.00


------------------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                           $8,550.00       $10,700.00       $14,800.00
------------------------------------------------------------------------------------------------------------------------------------

Page 1

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
#      ID #                                DESCRIPTION                                   FLV              FMV              FMIPV
------------------------------------------------------------------------------------------------------------------------------------
OPEN AREA
---------
------------------------------------------------------------------------------------------------------------------------------------
  12              (2) 4-DRAWER LATERAL FILE CABINETS, (6) 4-DRAWER VERTICAL FILE         $750.00         $850.00        $1,100.00
                  CABINETS, (2) L-SHAPED METAL DESKS, COMPUTER TABLES, SWIVEL
                  CHAIRS, BAR REFRIGERATOR

  13              HEWLETT PACKARD OFFICE JET FAX MACHINE                                 $250.00         $300.00          $350.00

  14              GATEWAY 2000 PC MODEL 4DX2-66 W/ ZENITH MONITOR                        $300.00         $350.00          $400.00

  15              GATEWAY PC MODEL PS-133 W/ VIVITRON MONITOR, CD- ROM W/                $700.00         $750.00          $850.00
                  SPEAKERS W/ HP LASERJET 5L PRINTER

------------------------------------------------------------------------------------------------------------------------------------
ROOM #640
---------
------------------------------------------------------------------------------------------------------------------------------------
  16              MAHOGANY EXECUTIVE DESK W/ MATCHING CREDENZA (2) DOUBLE              $1,600.00       $2,000.00        $2,500.00
                  2-DRAWER WOODEN FILE CABINETS, HIGHBACK BLACK LEATHER CHAIR,
                  (2) BURGUNDY ARM CHAIRS, ROUND CONFERENCE TABLE W/ (4) BURGUNDY
                  SWIVEL CHAIRS, (2) WOODEN ENCLOSED BOOKSHELVES, COATRACK

  17              GATEWAY MONITOR W/ HP LASERJET 4 PLUS PRINTER                          $250.00         $300.00          $350.00

------------------------------------------------------------------------------------------------------------------------------------
ROOM #639
---------
------------------------------------------------------------------------------------------------------------------------------------
  18              WOOD DESK W/ MATCHING CREDENZA & BOOKSHELF, (2) ARM CHAIRS,            $450.00         $500.00          $750.00
                  SWIVEL BASE HIGHBACK CHAIR, COMPUTER TABLE

  19              GATEWAY 2000 PC MODEL PS-60 W/ ZENITH MONITOR                          $400.00         $450.00          $600.00

------------------------------------------------------------------------------------------------------------------------------------
ROOM #637
---------
------------------------------------------------------------------------------------------------------------------------------------
  20              OAK EXECUTIVE DESK W/ MATCHING CREDENZA, (2) ARM CHAIRS, SWIVEL        $450.00         $500.00          $650.00
                  CHAIR

  21              GATEWAY 2000 PC MODEL PS-60 W/ VIVITRON 15" MONITOR                    $400.00         $450.00          $600.00

------------------------------------------------------------------------------------------------------------------------------------
ROOM #653
---------
------------------------------------------------------------------------------------------------------------------------------------
  22              WOODEN U-SHAPED EXECUTIVE DESK W/ 2-DRAWER LATERAL FILE                $750.00         $900.00        $1,200.00
                  CABINET, WOOD CREDENZA, METAL BOOK SHELF, ROUND CONFERENCE
                  TABLE, (4) CHAIRS, GREASE BOARD, SWIVEL BASE HIGH BACK CHAIR

  23              POWER MACINTOSH MODEL 7100/80W COMPUTER W/ (2) ZENITH SVGA             $500.00         $600.00          $750.00
                  MONITORS

------------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                           $6,800.00       $7,950.00       $10,100.00
------------------------------------------------------------------------------------------------------------------------------------

Page 2

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                                   FLV              FMV           FMIPV
------------------------------------------------------------------------------------------------------------------------------------
ROOM #655
---------
------------------------------------------------------------------------------------------------------------------------------------
  24              WOODEN EXECUTIVE DESK W/ MATCHING CREDENZA, (2) GLASS FRONT           $450.00         $550.00         $750.00
                  BOOKSHELVES, WOOD BOOKSHELF, (3) BLUE SWIVEL CHAIRS, VERTICAL
                  METAL FILE CABINET

  25              ZENITH PC W/ ZENITH MONITOR, HP DESKJET 672C PRINTER                  $300.00         $350.00         $450.00

------------------------------------------------------------------------------------------------------------------------------------
ROOM #657
---------
------------------------------------------------------------------------------------------------------------------------------------
  26              METAL BOOKSHELVES, METAL DESK, (2) CARTS, LATERAL FILE CABINET        $300.00         $400.00         $500.00
                  (2) ZENITH PC'S (UNDER REPAIR)

------------------------------------------------------------------------------------------------------------------------------------
ROOM #659
---------
------------------------------------------------------------------------------------------------------------------------------------
  27              (2) METAL DESKS, VERTICAL & LATERAL FILE CABINET, METAL               $500.00         $600.00         $750.00
                  BOOKSHELF, (2) ZENITH PC'S COMPAQ MONITOR, ZENITH MONITOR, HP
                  LASERJET II PRINTER
------------------------------------------------------------------------------------------------------------------------------------
ROOM #661
---------
------------------------------------------------------------------------------------------------------------------------------------
  28              (2) METAL DESKS, WORK TABLEE, METAL BOOKSHELVES, LATERAL FILE         $350.00         $400.00         $550.00
                  CABINETS, (2) SWIVEL CHAIRS, TYPEWRITER, ZENITH TELEVISION

  29              GATEWAY 2000 PC MODEL PS-90 W/ ZENITH MONITOR, HP LASERJET III        $450.00         $500.00         $650.00
                  PRINTER

------------------------------------------------------------------------------------------------------------------------------------
ROOM #N/A
------------------------------------------------------------------------------------------------------------------------------------
  30              WOODEN U-SHAPED WORK STATION, W/ SWIVEL BASE CHAIR, (2) ARM           $500.00         $600.00         $800.00
                  CHAIRS

------------------------------------------------------------------------------------------------------------------------------------
DON KELLER OFFICE
------------------------------------------------------------------------------------------------------------------------------------
  31              METAL DESK, METAL CREDENZA, WOODEN COMPUTER TABLE, METAL              $350.00         $400.00         $550.00
                  BOOKSHELF, FILE CABINET, (2) ARM CHAIRS, FAX MACHINE,
                  TELEVISION, PRINTER

  32              GATEWAY 2000 PC MODEL 4DX2-66 W/ HP DESKJET 660CE PRINTER             $400.00         $450.00         $600.00

------------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                          $3,600.00       $4,250.00       $5,600.00
------------------------------------------------------------------------------------------------------------------------------------

Page 3

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
#        ID #                            DESCRIPTION                                     FLV           FMV         FMIPV
------------------------------------------------------------------------------------------------------------------------------------
ROOM #665
---------
------------------------------------------------------------------------------------------------------------------------------------
  33              (3) METAL DESKS, (3) METAL CREDENZA'S, METAL BOOKSHELVES, (2)             $850.00     $1,000.00     $1,300.00
                  4-DRAWER VERTICAL FILE CABINETS, COMPUTER TABLE, (3) SWIVEL
                  BASE CHAIRS, (6) ARM CHAIRS, 2-DRAWER FILE CABINETS,
                  TELEVISION, (3) GLASS BOOKSHELVES, ZENITH PC W/ PRINTER

  34              GATEWAY MODEL PS-133 PC W/ ZENITH MONITOR, HP LASERJET II                 $475.00       $550.00       $650.00
                  PRINTER
------------------------------------------------------------------------------------------------------------------------------------
ROOM #683
---------
------------------------------------------------------------------------------------------------------------------------------------
  35     012001   PATTERSON KELLEY TWIN SHELL DRY BLENDER, 3 CUBIC FEET CAPACITY,         $2,000.00     $2,500.00     $4,000.00
                  110 LBS/CUBIC FEET CAPACITY S/N 247591

  36              METTLER MODEL P3 SCALE, 2000G.                                            $150.00       $200.00       $250.00

  37              TOLEDO VERILUX 1072 SCALE                                                 $150.00       $200.00       $250.00

  38              PATTERSON KELLEY BENCH MODEL TWIN SHELL DRY BLENDER, S/N LB7974           $500.00       $600.00       $800.00

  39              PRECISION THELCO MODEL 27 OVEN, 200 DEGREE C. CAPACITY S/N                $300.00       $400.00       $600.00
                  13-4-11

  40              TOLEDO MODEL 2081 SCALE, S/N 507188, 200 LB.                              $300.00       $350.00       $450.00

  41              TENKAY DUST COLLECTOR MODEL 79455-1 SIZE 6D,                              $500.00       $700.00     $1,000.00

  42     012002   TEMPTEK/FERRO MODEL 263416-PK-G23 FURNACE, S/N 79177, 2300              $1,500.00     $2,500.00     $4,000.00
                  DEGREE F. CAPACITY W/ CHART RECORDERS & CONTROLS

  43              MISCELLANEOUS EQUIPMENT INCLUDING HYDRAULIC PALLET JACK,                  $300.00       $350.00       $550.00
                  STORAGE CABINET, METAL DESK, SHELVING, SHOP VAC, WORK BENCH,
                  STIRRER

------------------------------------------------------------------------------------------------------------------------------------
ROOM #679 CORPORATE FACILITIES
------------------------------
------------------------------------------------------------------------------------------------------------------------------------
  44              (36) METAL 5-DRAWER FLAT BLUE PRINT FILE CABINETS                       $7,200.00     $9,000.00    $12,600.00

------------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                             $14,225.00    $18,350.00    $26,450.00
------------------------------------------------------------------------------------------------------------------------------------

Page 4

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                                   FLV              FMV           FMIPV
------------------------------------------------------------------------------------------------------------------------------------
ROOM #679 CORPORATE FACILITIES (CONT'D)
------------------------------------------------------------------------------------------------------------------------------------
  45              (24) VERTICAL 5 DRAWER FILE CABINETS                                $1,200.00         $1,600.00      $2,400.00


  46              MISC. SUPPORT INCLUDING DRAFTING TABLE W/ PROTRACTING ARM,          $3,000.00         $3,500.00      $4,500.00
                  SWIVEL CHAIRS, REFRIGERATOR, COAT RACKS, (3) MODULAR
                  WORKSTATIONS, APPROX. 150 LF OF 7' HIGH OFFICE PARTITIONS,
                  BOOKSHELVES, STRAIGHT LEG & SWIVEL CHAIRS, TYPEWRITER, STORAGE
                  CABINETS, EPSON PRINTER, HP FAX 700 MACHINE, CLOTH LOVESEAT,
                  ZENITH TELEVISION W/ STAND, SAVIN MODEL 7015 COPIER, (2) PAPER
                  CUTTERS


  47              GATEWAY PS-133 PC W/ DESKJET 580C PRINTER & COMPAQ MONITOR            $550.00           $650.00        $800.00


  48              ZENITH PC W/ COMPAQ MONITOR, HP LASERJET 11P                          $300.00           $350.00        $500.00

  49              ZENITH PC W/ MONITOR & EPSON PRINTER                                  $200.00           $250.00        $350.00

  50              (2) ZENITH PC'S W/ HP DESKJET PRINTER                                 $200.00           $250.00        $350.00

  51              (2) ZENITH PC'S W/ MONITORS                                            $50.00            $75.00        $100.00

  52     012003   HEWLETT PACKARD MODEL 7586B PLOTTER                                 $1,250.00         $1,500.00      $2,000.00

  53     012004   HEWLETT PACKARD MODEL7585B PLOTTER                                  $1,250.00         $1,500.00      $2,000.00

------------------------------------------------------------------------------------------------------------------------------------
ROOM # 677 MICROCIRCUITS ADMINISTRATION
------------------------------------------------------------------------------------------------------------------------------------
  54              BROTHER FAX MACHINE, LATERAL & VERTICAL FILE CABINETS, METAL        $2,500.00         $3,000.00      $4,000.00
                  DESKS, METAL CREDENZA, BOOKSHELF, SWIVEL BASE CHAIRS,
                  TELEVISION W/ CABINET, GATEWAY MONITOR W/ SPEAKERS, HP LASERJET
                  II PRINTER, GREASE BOARD, WOODEN EXECUTIVE DESK W/ CREDENZA,
                  ROUND CONFERENCE TABLE W/ (4) ARM CHAIRS, ZENITH TELEVISION
                  W/ STAND, WOOD BOOKSHELF

  55              GATEWAY PC MODEL P5-133 W/ ZENITH MONITOR, HP LASERJET III            $550.00           $650.00        $750.00
                  PRINTER

------------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                         $11,050.00        $13,325.00     $17,750.00
------------------------------------------------------------------------------------------------------------------------------------

Page 5

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                           FLV                 FMV                 FMIPV
---------------------------------------------------------------------------------------------------------------------------------
ROOM # 696 & # 692 TECHNICAL LIBRARY
---------------------------------------------------------------------------------------------------------------------------------
56              SAVIN MODEL 70152 COPIER W/ STAND                              $   450.00          $   500.00          $   700.00

57              ZENITH Z-STATION EX PC W/ ZENITH MONITOR, HP LASERJET          $   350.00          $   400.00          $   500.00
                II PRINTER

58              (55) 3' SECTIONS OF METAL & WOODEN BOOK SHELVING, (14) 3'      $ 3,800.00          $ 4,500.00          $ 7,500.00
                SECTIONS OF METAL & WOODEN MAGAZINE DISPLAY SHELVING, ROUND
                CONFERENCE TABLE W/ (4) WOODEN CHAIRS, WOODEN CARD
                FILE CABINET, WOODEN DESK, SWIVEL CHAIRS, MISCELLANEOUS METAL
                BOOKSHELVES, METAL DESKS, VERTICAL FILE CABINETS, 4' WOODEN
                CONFERENCE TABLE W/ (4) WOODEN CHAIRS

---------------------------------------------------------------------------------------------------------------------------------
ROOM # 690 ELECTRONIC SYSTEMS DEVELOPMENT
-----------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
59              ZENITH Z-STATION EX PC W/ COMPAQ MONITOR, HP LASERJET IIP      $   300.00          $   350.00          $   500.00
                PRINTER

60              ZENITH Z-STATION EX PC W/ ZENITH MONITOR, HP LASERJET 4 PLUS   $   400.00          $   450.00          $   600.00
                PRINTER

61              RICOH MODEL 3500L FAX MACHINE                                  $   250.00          $   300.00          $   350.00

62              ZENITH Z-STATION EX PC W/ ZENITH MONITOR                       $   200.00          $   250.00          $   350.00

63              ZENITH Z-NOTE GT LAPTOP COMPUTER                               $   400.00          $   500.00          $   600.00

64              ZENITH Z-SELECT 100 PC W/ ZENITH 17FTM MONITOR, HP             $   300.00          $   350.00          $   450.00
                DESKJET 540 PRINTER

65              GATEWAY 2000 SOLO LAPTOP COMPUTER                              $   500.00          $   550.00          $   650.00

66              ZENITH Z-SELECT 100 PC W/ ZENITH 15FTM MONITOR                 $   250.00          $   300.00          $   400.00

67              LOGICAL DEVICES ALLPRO 88XR DAC PER PIN DEVICE PROGRAMMER      $   450.00          $   500.00          $   700.00

68              SUN ULTRASPARC AXIL ULTIMA 1/K COMPUTER W/ GATEWAY             $   750.00          $   850.00          $ 1,100.00
                VIVITRON 21 MONITOR

---------------------------------------------------------------------------------------------------------------------------------
                PAGE TOTAL                                                     $ 8,400.00          $ 9,800.00          $14,400.00
---------------------------------------------------------------------------------------------------------------------------------

Page 6

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                           FLV                 FMV                 FMIPV
---------------------------------------------------------------------------------------------------------------------------------
ROOM # 690 ELECTRONIC SYSTEMS DEVELOPMENT (CONT'D)
--------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
69              CALCOMP MODEL CCL 600XF LASER PRINTER                          $   400.00          $   450.00          $   600.00

70              SUN ULTRASPARC AXIL ULTIMA 1 COMPUTER W/ GATEWAY               $   850.00          $   950.00          $ 1,100.00
                VIVITRON 21 MONITOR

71              GATEWAY PC MODEL PS-166                                        $   400.00          $   450.00          $   550.00

72              TATUNG/ULTRASPARC 4 PLEX PLUS PC W/ GATEWAY VIVITRON           $   650.00          $   750.00          $   950.00
                21 MONITOR

73              SUN SPARC STATION 10 COMPUTER W/ SUN 19"                       $   750.00          $   950.00          $ 1,100.00

74              ZENITH STEREO SYSTEM W/ TUNER, AMPLIFIER, DOUBLE DECK          $   250.00          $   300.00          $   400.00
                CASSETTE PLAYER W/ SPEAKERS

75              CHIPMASTER MODEL SMD-1000 SOLDER REPAIR STATION                $   450.00          $   550.00          $   750.00

76              (2) TATUNG ULTRASPARC 4 PLEX PC W/ GATEWAY VIVTRON 21          $ 1,300.00          $ 1,500.00          $ 1,900.00
                MONITOR

77              TATUNG ULTRASPARC COMPUTER W/ 19" MONITOR, HP DESKJET          $   600.00          $   700.00          $   900.00
                PRINTER

78              GATEWAY PS-133 PC                                              $   350.00          $   400.00          $   500.00

---------------------------------------------------------------------------------------------------------------------------------
                PAGE TOTAL                                                     $ 6,000.00          $ 7,000.00          $ 8,750.00
---------------------------------------------------------------------------------------------------------------------------------

Page 7

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                           FLV                 FMV                 FMIPV
----------------------------------------------------------------------------------------------------------------------------------
ROOM # 690 ELECTRONIC SYSTEMS DEVELOPMENT (CONT'D)
--------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
79              MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:          $85,000.00          $100,000.00         $135,000.00
                (1) HP FREQUENCY COUNTERS, KEPCO POWER SUPPLIES,
                (2) HP SYNTHESIZED SIGNAL GENERATORS, (1) HP SPECTRUM
                ANALYZERS, (5) TEKTRONIX 2465B, 400MHZ OSCILLOSCOPE,
                WELLER SOLDERING STATIONS (2) GATEWAY 2000, MODEL P4D-66
                PC'S, (2) MODEL PS-150 PC'S, ZENITH DIGITAL RECEIVER, (1)
                GATEWAY 2000 PS-100 PC W/ MONITOR, HP LASERJET 4MV, (7)
                GATEWAY 2000, MODEL P5-133,

                PC W/MONITOR, HP LASERJET 5 PRINTER,TEKTRONIX 475 OSCILLOSCOPE,
                LAMBDA METERS, GATEWAY PC MODEL P5-90, (13) SUN SPARC STATION
                PC'S, DELTA PEDESTAL DRILL PRESS, TEKTRONIX MODEL 2467BHD
                OSCILLOSCOPE, DBL END GRIND BENCH DRILL

                PRESS VISE, HP LASERJET II  PRINTERS, ZENITH MODEL Z-SELECT 100
                PC W/MONITOR, HP DESKJET PRINTERS,(2) HP NETWORK ANALYZER MODEL
                8753D, NIKON MICROSCOPES, DIACRO MANUAL NOTCHER & PUNCH,ENCO
                BENDING BRAKE, KEPRO SHEAR, DIACRO BENDING BRAKE, TEKTRONIX
                MODEL

                2715 OSCILLOSCOPE, HP MODEL 3784A, DIGITAL TRANSMISSION
                ANALYZER, POWER SUPPLIES, PULSE GENERATORS, TELEVISIONS,
                TEKTRONIX MODEL 7603 OSCILLOSCOPE, ZENITH PC'S QUANTUM DATA
                MODEL 901 VIDEO GENERATOR, TEKTRONIX MODEL 7623A

                OSCILLOSCOPE, (2) TEKTRONIX MODEL 576  CURVE TRACER, CAMERA,
                LASER PRINTERS, SWEEP GENERATORS, WORKBENCHES, STOOLS, CHAIRS,
                FILE CABINETS, STORAGE CABINETS, LAMPS, WILD
                MICROSCOPE, CARD FILES, DESKS, HP DESKJET PRINTERS, MAGNIFYING
                LAMPS, ARBOR, PRESSES, HAND TOOLS, PALLET RACKING, HP SPECTRUM
                ANALYZER, BOOKSHELVES, ELECTRONIC COUNTERS, BLUE PRINT TUB FILE
                CABINET, HP SPECTRUM ANALYZER DISPLAYS, LICA STEREO ZOOM

                MICROSCOPE, (3) WOODEN EXEC. DESKS, CONFERENCE TABLE, ARM
                CHAIRS , WOODEN CREDENZA'S, ZENITH STEREO SYSTEM W/ TUNER,
                EQUALIZER, TAPE DECK, CD PLAYER, MONITOR

----------------------------------------------------------------------------------------------------------------------------------
                PAGE TOTAL                                                     $85,000.00          $100,000.00         $135,000.00
----------------------------------------------------------------------------------------------------------------------------------

Page 8

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                           FLV                 FMV                 FMIPV
---------------------------------------------------------------------------------------------------------------------------------
ROOM # 690 ELECTRONIC SYSTEMS DEVELOPMENT (CONT'D)
--------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
80              (3) SUN SPARC STATION 330 FILE SERVERS W/ SUN SVGA             $ 2,500.00          $ 3,500.00          $ 5,000.00
                MONITORS ID #012005, 012006 W/ (7) SUN UNIX WORK STATIONS

81              GATEWAY MODEL GPS-200 PC W/ MONITOR                            $   500.00          $   600.00          $   700.00

---------------------------------------------------------------------------------------------------------------------------------
ROOM # 612 PRODUCT DATA MANAGEMENT
----------------------------------
---------------------------------------------------------------------------------------------------------------------------------
82              (4) GATEWAY PS-166XL PC W/ CD ROM, MONITOR, (3) GATEWAY        $15,000.00          $18,500.00          $25,000.00
                PS-75 PC W/ MONITOR, ZENITH 388 PC'S, GATEWAY PS-100XL
                PC W/ CD ROM & MONITOR, HP LASERJET 4 PLUS PRINTER,
                GATEWAY 2000, G6-300 PC W/ MONITOR, (2) GATEWAY 2000,
                P5-60 PC,

                GATEWAY 2000, P5-90 PC W/ MONITOR, HEWLETT PACKARD SCANJET
                4P FLATBED SCANNER, COMPAQ PROLIANT 1500 P-90 WEBSERVER,
                SUN SPARC STATION -1 COMPUTER, HEWLETT PACKARD APOLLO 7000
                COMPUTER W/ MONITOR, UPS'S, GATEWAY SOLO PENTIUM 133 LAPTOP,
                HP DESKJET 855CE PRINTER, ZENITH Z-425/SX PC W/ COMPAQ
                MONITOR, APPROX. 185 LF. OF 5' HIGH MODULAR OFFICE PARTITIONS,
                SWIVEL BASE CHAIRS, METAL DESKS, METAL CREDENZA, ZENITH
                TELEVISION W/ VCR, FILE CABINETS, VERTICAL & LATERAL (9)
                MODULAR WORK STATIONS, 8' CONFERENCE TABLE, W/ (8) CHAIRS

---------------------------------------------------------------------------------------------------------------------------------
ROOM # 626
----------
---------------------------------------------------------------------------------------------------------------------------------
83              (2) METAL TABLES, ARM CHAIRS, (4) METAL DESKS, WOODEN,         $   500.00          $   650.00          $   850.00
                TABLE CREDENZA, GREASE BOARD

---------------------------------------------------------------------------------------------------------------------------------
ROOM 625 WARRANTY ADMINISTRATION
--------------------------------
---------------------------------------------------------------------------------------------------------------------------------
84              (6) MODULAR WORK STATIONS W/ OFFICE PARTITIONS, WORK TOPS,     $ 7,500.00          $ 9,000.00          $12,500.00
                CABINETS, SWIVEL CHAIRS, (3) 4-DRAWER LATERAL FILE CABINETS,
                (11) 5-DRAWER VERTICAL FILE CABINETS, PRINTERS, METAL DESKS,
                GATEWAY P5-75 PC W/ MONITOR, ARM METAL CREDENZA'S, HP FAX
                MACHINE, (2) GATEWAY 2000, P5-100 PC W/ MONITOR

---------------------------------------------------------------------------------------------------------------------------------
                PAGE TOTAL                                                     $26,000.00          $32,250.00          $44,050.00
---------------------------------------------------------------------------------------------------------------------------------

Page 9

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                           FLV                 FMV                 FMIPV
---------------------------------------------------------------------------------------------------------------------------------
ROOM # 646 CUSTOMER RESPONSE CENTER/TECHNICAL PUBLICATIONS
----------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
85              APPROXIMATELY (50) MODULAR WORKSTATIONS INCLUDING WORK TOPS,   $85,000.00          $100,000.00         $130,000.00
                APPROX. 2000 LF. OF MODULAR OFFICE PARTITIONS, VARIOUS
                HEIGHTS, STORAGE CABINETS, (54) 5-DRAWER  VERTICAL FILE
                CABINETS, (15) 4-DRAWER LATERAL FILE CABINETS, APPROX. (20)
                METAL 5' HIGH MODULAR OFFICE PARTITIONS APPROX. 1000 LF.,
                METAL DESKS, WORK TABLES, (3) ZENITH VCR'S, ZENITH
                DESCRAMBLERS, ZENITH TELEVISIONS, VARIOUS SIZES, MONITORS,
                TOSHIBA SATELLITE PRO LAPTOP PC, CANON BUBBLEJET PRINTER,
                HP LASERJET PRINTERS, IIID, 4, 4V, II, 4 PLUS, (4) GATEWAY
                P5-90 PC,  MACINTOSH PROFORMA MODEL 6400-200, (2) COMPAQ
                PROLIANT FILE SERVER, GATEWAY SOLO PENTIUM LAPTOP, GATEWAY
                2000 PC'S, (16) GATEWAY P5-120 PC, (28) GATEWAY P4D-66, (2)
                MACINTOSH POWERMAC G3, MISC. ZENITH PC'S, MACINTOSH
                POWERMAC8100-110,  GATEWAY P5-133 PC, (5) GATEWAY P5-75
                PC, FLAT BLUE PRINT FILE CABINETS, DRAFTING TABLE W/
                PROTRACTING ARM, MICROFICHE READERS, CARD FILE CABINETS,
                BOOKSHELVES, PAPER CUTTERS, DOT MATRIX  PRINTERS, TYPEWRITERS,
                STORAGE CABINETS, (10) 4-DRAWER VERTICAL FILE CABINETS, HP
                OFFICEJET FAX MACHINE, HP DESKJET 870CE PRINTER, UPS'S,
                STRAIGHT LEG CHAIRS, BOOKSHELVES, ETC.

---------------------------------------------------------------------------------------------------------------------------------
ROOM # 652 NEW TECHNOLOGIES GROUP
---------------------------------
---------------------------------------------------------------------------------------------------------------------------------
86              HEWLETT PACKARD FAX-700, HEWLETT PACKARD LASERJET 5M, (8)      $ 8,500.00          $10,500.00          $14,000.00
                MODULAR WORKSTATIONS W/ WORK TOPS, OFFICE PARTITIONS APPROX.
                400 LF., SWIVEL CHAIRS, (9) HON VERTICAL 5-DRAWER FILE
                CABINETS, CONFERENCE TABLE, ASSORTED ZENITH TELEVISIONS, (10)
                CONFERENCE ROOM CHAIRS, ASSORTED CHAIRS, QUARTET OVONICS
                GREASE BOARD, TEKTRONIX TDS360 OSCILLOSCOPE, METAL DESKS,
                MISC. MONITORS, COMPUTER TABLES, (2) U-SHAPED EXECUTIVE
                DESKS, (6) GATEWAY P5-166 PC, W/ MONITOR, (2) GATEWAY
                2000 W/ MONITOR, ZENITH 2-STATION EX W/ 19" MONITOR

---------------------------------------------------------------------------------------------------------------------------------
                PAGE TOTAL                                                     $93,500.00         $110,500.00         $144,000.00
---------------------------------------------------------------------------------------------------------------------------------

Page 10

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                           FLV                 FMV                 FMIPV
---------------------------------------------------------------------------------------------------------------------------------
ROOM # 656 SAW/CHIP & WIRE DEVICE
---------------------------------
---------------------------------------------------------------------------------------------------------------------------------
87              STERLING BENCH MODEL DRILL PRESS, (2) SETRA QUICK COUNT        $20,000.00          $25,000.00          $40,000.00
                DIGITAL SCALES, NIKON STEREO MICROSCOPE, NIKON MODEL
                SMZ-10 MICROSCOPE, HEWLETT PACKARD 1722A OSCILLOSCOPE,
                HP 8711A NETWORK ANALYZER, BLUE M OVENS, TOLEDO BALANCE
                SCALE, ELECTRIFIED

                WORK BENCHES, KELVINATOR FREEZER, LOCKERS, MAGNIFYING LAMPS,
                STORAGE CABINETS, NIKON OPTIPHOT MICROSCOPE, CANON FAX
                MACHINE, MISC. MICROSCOPES, MARKEM MARKING MACHINE, MONITORS,
                ZENITH VCR, DAYE MICROTESTER OVEN, ROYCO PARTICLE MONITOR
                MODEL 225, UVEX LABORATORY CURING UNIT, MICROWAVE, HAND
                TOOLS, TOOLBOX, WELLER SOLDERING STATIONS, BUTCHER BLOCK TOP
                WORK BENCHES, BAUSCH & LOMB STEREO MICROSCOPES, METTLER
                P1000 SCALE, DISPENSING SYSTEMS,  PAPER CUTTER, HAND TRUCKS,
                FILE CABINETS, SHELVING, FOOT OPERATED BOX STAPLER, BENCH
                SCALES, TYPEWRITERS, METAL DESKS, CHAIRS, SHELVING, DRYING
                CABINETS, INSPECTION LIGHTS, SOLDER POT, FLAMMABLE STORAGE
                CABINET

88     012007   NIKON LABOPHOT-2 MICROSCOPE, S/N 339547 W/ TRANSFORMER         $ 1,000.00          $ 1,200.00          $ 1,500.00

89     012008   VIDEOJET EXCEL SERIES 180I PRINTER S/N 194F18009               $ 4,000.00          $ 5,000.00          $ 7,000.00

90     012009   PWS MODEL PROBE II, INSPECTION PROBING SYSTEM, S/N 29060983    $ 1,000.00          $ 1,250.00          $ 1,500.00
                W/ NIKON MICROSCOPE

91     012020   HEWLETT PACKARD MODEL 8753C, 300KH2 NETWORK ANALYZER S/N       $ 3,000.00          $ 4,000.00          $ 5,000.00
                2918400106

92     012010   PWS MODEL PROBE II INSPECTION PROBE SYSTEM S/N 25750481, W/    $ 1,200.00          $ 1,400.00          $ 1,800.00
                NIKON MICROSCOPE

93     012012   KULICKE & SOFFA MODEL 288 INDEXING WORKHOLDER                  $ 2,500.00          $ 3,500.00          $ 4,500.00

94     012021   HEWLETT PACKARD MODEL 8753B NETWORK ANALYZER S/N 2807A04016    $ 3,000.00          $ 4,000.00          $ 5,000.00
---------------------------------------------------------------------------------------------------------------------------------
                PAGE TOTAL                                                     $35,700.00          $45,350.00          $66,300.00
---------------------------------------------------------------------------------------------------------------------------------

Page 11

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                           FLV                 FMV                 FMIPV
---------------------------------------------------------------------------------------------------------------------------------
ROOM # 656 SAW/CHIP & WIRE DEVICE
---------------------------------
---------------------------------------------------------------------------------------------------------------------------------
95     012022   HEWLETT PACKARD MODEL 8753B NETWORK ANALYZER S/N N/A           $ 3,000.00          $ 4,000.00          $ 5,000.00

96              WEB TECHNOLOGIES MODEL 6200 BUBBLE DETECTOR                    $   850.00          $ 1,100.00          $ 1,400.00

97     012011   KULICKE & SOFFA MODEL 4123 WIRE BONDER W/ BAUSCH & LOMB        $ 1,400.00          $ 1,700.00          $ 2,000.00
                MICROSCOPE

98     012013   SEMICONDUCTOR EQUIPMENT CORPORATION WIRE BONDER W/ NIKON       $   950.00          $ 1,150.00          $ 1,500.00
                MICROSCOPE, MODEL 4400, S/N 15070

99     012014   KULICKE & SOFFA MODEL 4123 WIRE BONDER W/ BAUSCH & LOMB        $ 1,400.00          $ 1,700.00          $ 2,000.00
                MICROSCOPE

100    012015   KULICKE & SOFFA MODEL 4124 WIRE BONDER, S/N 431                $ 1,750.00          $ 2,250.00          $ 2,800.00

101    012016   TAYLOR & WINFIELD MODEL NS-1H-E-GI-83 SPOT WELDER, 50KVA,      $ 1,200.00          $ 1,400.00          $ 2,000.00
                W/ ENCLOSURE

102    012017   TRIO-TECH VACUUM HYDROCLAVE MODEL A-MBG-1, S/N 034M W/         $ 1,500.00          $ 2,000.00          $ 3,000.00
                CHART RECORDER

103    012018   LAURIER & ASSOCIATES WIRE BONDER, MODEL SA202, S/N D0519       $ 2,000.00          $ 2,500.00          $ 3,200.00

104    012019   LAURIER & ASSOCIATES WIRE BONDER, MODEL SA202,  S/N CO445      $ 2,000.00          $ 2,500.00          $ 3,200.00

105    012023   HEWLETT PACKARD MODEL 8711A, 300KHZ NETWORK ANALYZER           $ 3,000.00          $ 4,000.00          $ 5,000.00
                S/N N/A

---------------------------------------------------------------------------------------------------------------------------------
CLEAN ROOM
----------
---------------------------------------------------------------------------------------------------------------------------------
106    012024   TENOR INSTRUMENT ALPHA STEP 200 SURFACE PROFILE METER S/N      $ 6,000.00          $ 8,000.00          $10,000.00
                0491-1924, 1991

107    012029   UVOCS ULTRA VIOLET OZONE CLEANING SYSTEM MODEL T1OX16/OZS,     $ 2,000.00          $ 2,500.00          $ 3,500.00
                S/N 335

---------------------------------------------------------------------------------------------------------------------------------
                PAGE TOTAL                                                     $27,050.00          $34,800.00          $44,600.00
---------------------------------------------------------------------------------------------------------------------------------

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GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                           FLV                 FMV                 FMIPV
---------------------------------------------------------------------------------------------------------------------------------
CLEAN ROOM (CONT'D)
-------------------
---------------------------------------------------------------------------------------------------------------------------------
108    012027   BRANSON SERIES 8000 MODEL PM11220, PLASMA CONTROLLER, S/N      $ 4,500.00          $ 5,500.00          $ 7,500.00
                F482-1 W/ POWER SUPPLY

109    012025   SPUTTERED FILMS CLUSTER 4000, SPUTTERING SYSTEM, S/N 16209    $120,000.00         $150,000.00         $200,000.00
                W/ DYCOR QUADROPOLE GAS ANALYZER, POWER SUPPLIES ,
                CH INDUSTRIES LN2 CONTROL, MDX MAGNETRON DRIVE W/INTERFACE
                UNITS, MODEL 280 GAUGE CONTROLLER

110    012026   AIRCO MODEL FC1800 ELECTRON BEAM DEPOSITION SYSTEM S/N 193     $35,000.00          $45,000.00          $60,000.00
                W/ MODEL CV-8 CONTROLLER, SERIES 270 GAUGE CONTROLLER, W/
                VIEWVAC

111    012028   MTI MULTIFAB WAFER TRACK S/N 2143, REFURBISHED BY PENREP       $10,000.00          $15,000.00          $20,000.00

112    012030   MTI MULTIFAB WAFER TRACK S/N 2469, REFURBISHED BY PENREP       $10,000.00          $15,000.00          $20,000.00

113    012032   PERKIN ELMER 300HT MICRALIGN SYSTEM, MODEL 341 S/N A4991       $50,000.00          $60,000.00          $80,000.00

114    012031   MII MULTIFAB WAFER TRACK S/N REFURBISHED BY PENREP             $ 3,000.00          $ 4,000.00          $ 6,000.00

115    012033   SEMIFAB INC. WAFER PROCESSING DEVELOP & ETCH SYSTEM            $ 9,500.00          $13,000.00          $18,500.00
                POLYPROPYLENE TANK, W/ LUFRAN TEMP. CONTROLLER, DIGITAL
                CONTROLS, MODEL WPS-300 S/N 3180-01

116    012036   QUINTEL MODEL CA 800, MASK ALIGNER, W/ ULTRA-SENSE CONTROL     $ 6,000.00          $ 7,500.00          $10,500.00
                SYSTEM, POWER SUPPLY S/N 0273

117    012038   INTEGRATED AIR SYSTEMS VENTED FUME HOOD MODEL LV648PE2,        $ 2,500.00          $ 3,000.00          $ 4,500.00
                S/N 5035, 1996, 6' LENGTH W/ HEPA FILTERS

118    012034   SHANNON ENGINEERING PH NEUTRALIZATION SYSTEM W/ DIGITAL PH     $ 2,500.00          $ 3,000.00          $ 4,500.00
                CONTROLLER, MODEL BNS01-011

---------------------------------------------------------------------------------------------------------------------------------
                PAGE TOTAL                                                    $253,000.00         $321,000.00         $431,500.00
---------------------------------------------------------------------------------------------------------------------------------

Page 13

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                           FLV                 FMV                 FMIPV
---------------------------------------------------------------------------------------------------------------------------------
CLEAN ROOM (CONT'D)
-------------------
---------------------------------------------------------------------------------------------------------------------------------
119             MISCELLANEOUS IN CLEAN ROOM INCLUDING: VENTED FUME HOODS,      $12,000.00          $15,000.00          $20,000.00
                WORKBENCHES, PC'S, CARTS, HOT PLATES, STIRRERS, BLUE M OVEN,
                FLAMMABLE STORAGE CABINETS, POLISHING & RINSING UNIT PASS
                THRU UNITS, SHOP VAC, CARTS, LEAK DETECTOR

120    012035   NIKON METALLURGICAL INSPECTION MICROSCOPE W/ PANASONIC         $ 6,500.00          $ 7,500.00          $10,000.00
                CAMERA S/N 250424, MODEL 227946 W/ VIDEO MICRO SCALER
                MODEL IV-550 & MONITOR

121    012037   SEMI TOOL SPIN DRYER, MODEL ST-260C, S/N C2659C                $ 1,500.00          $ 2,000.00          $ 2,500.00

122    012039   TENCOR M-GAGE 200 THICKNESS MEASURING SYSTEM W/ PRINTER        $ 1,200.00          $ 1,500.00          $ 2,000.00
                S/N 0286-410

123    012041   KULICKE & SOFFA MODEL 780 WAFER DICING SAW S/N 1153, W/        $20,000.00          $24,000.00          $30,000.00
                SONY MONITOR

124    012042   KULICKE & SOFFA MODEL 775 WAFER DICING SAW S/N 525, W/ SONY    $20,000.00          $24,000.00          $30,000.00
                MONITOR DIGITAL CONTROLS

125    012043   AMI SEMI AUTOMATIC SCREEN PRINTER MODEL 465 S/N 995126 W/      $ 7,500.00          $10,000.00          $14,000.00
                (2) CCD CAMERAS MONITOR, CROSSHAIR GENERATORS, POWER
                SUPPLY, MICRO-ALIGNMENT SYSTEM

126             KULICKE & SOFFA MODEL 780 WAFER DICING SAW (LOCATED ON 7TH     $20,000.00          $24,000.00          $30,000.00
                FLOOR)

127             MISCELLANEOUS INCLUDING BLUE M OVEN CARTS TEKTRONIX            $ 5,000.00          $ 6,000.00          $ 8,000.00
                OSCILLOSCOPES, WORKBENCHES, NUARC FLIP TOP PLATEMAKER,
                VENTED FUME HOODS, MICROSCOPES, VITRASONIC BATHS, etc..

128             (2) HP 3577 NETWORK ANALYZERS, APPROX. 1985 (7TH FLOOR)        $ 8,000.00          $ 9,000.00          $11,000.00

---------------------------------------------------------------------------------------------------------------------------------
ROOM # 687 STUDIO
-----------------
---------------------------------------------------------------------------------------------------------------------------------
129    012044   HEWLETT PACKARD MODEL 89440A, 1800MHZ VECTOR SIGNAL            $ 7,500.00          $ 8,500.00          $12,000.00
                ANALYZER, W/ HP MODEL 89440A RF SECTION

---------------------------------------------------------------------------------------------------------------------------------
                PAGE TOTAL                                                    $109,200.00         $131,500.00         $169,500.00
---------------------------------------------------------------------------------------------------------------------------------

Page 14

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

-----------------------------------------------------------------------------------------------------------------------------
 #   ID#                 DESCRIPTION                                           FLV               FMV              FMIPV
-----------------------------------------------------------------------------------------------------------------------------
ROOM # 687 STUDIO (CONT'D)
--------------------------
-----------------------------------------------------------------------------------------------------------------------------
  130    012045   HEWLETT PACKARD MODEL 8644A, 2060 MHZ SYNTHESIZED SIGNAL     $  6,500.00       $  7,500.00      $  10,000.00
                  GENERATOR

  131    012046   ANALOGIC POLYNOMICAL WAVEFORM SYNTHESIZER MODEL 2020         $  2,000.00       $  2,500.00      $   3,500.00

  132    012047   HEWLETT PACKARD MODEL 8647A SIGNAL GENERATOR                 $  3,000.00       $  4,000.00      $   5,000.00

  133    012048   HEWLETT PACKARD MODEL 89440A, 1800 MHZ VECTOR SIGNAL         $  7,500.00       $  8,500.00      $  12,000.00
                  ANALYZER, W/ RF SECTION

  134     01249   PANASONIC MODEL P350 DIGITAL VIDEO CASSETTE RECORDER         $  1,200.00       $  1,500.00      $   1,850.00

  135             STUDIO EQUIPMENT CONSISTING OF SIGNAL GENERATORS & RACKS,    $ 20,000.00       $ 30,000.00      $  60,000.00
                  TAPE RECORDERS, STUDIO HEAD END EQUIPMENT, GATEWAY PC'S,
                  ZENITH MONITORS, OSCILLOSCOPES, TELEVISION MONITORS,
                  DISTRIBUTION PATCH PANELS, FUNCTION GENERATORS, MONOSCOPES,
                  VECTORSCOPES, MODULATORS, GHOST SIMULATORS, RECEIVERS,
                  TEKTRONIX 2465B 400MHZ OSCILLOSCOPE, FANS, NOTCHER, PUNCH,
                  HANDTOOLS, MAGNIFYING LAMPS, HP PLOTTER, DRAFTING TABLE,
                  SOLDER STATIONS, CARTS, WORKBENCHES, BLUE PRINT CABINETS

  136    012106   HEWLETT PACKARD 3784A DIGITAL TRANSMISSION ANALYZER          $  2,500.00       $  3,500.00      $  4,500.00

  137    012120   ZENITH MODEL HDTV, HIGH DEFINITION TELEVISION CAMERA W/      $ 85,000.00       $100,000.00      $120,000.00
                  VINTEN LF. CAM HEAD, MODEL 3277, S/N 292 W/ TRIPOD STAND,
                  ASSOCIATED EQUIPMENT

  138    012121   SONY MODEL BVH - 2000 VIDEOCORDER                            $  5,000.00       $  7,000.00      $  9,000.00

-----------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                   $132,700.00       $164,500.00      $225,850.00
-----------------------------------------------------------------------------------------------------------------------------

Page 15

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------
 #   ID#                 DESCRIPTION                                           FLV               FMV              FMIPV
----------------------------------------------------------------------------------------------------------------------------
TRAINING AREA ROOM # 620
------------------------
----------------------------------------------------------------------------------------------------------------------------
  139             (10) LEADER MODEL LBO-520 DUAL TRACE OSCILLOSCOPES, (10)     $25,000.00        $30,000.00       $40,000.00
                  SENCORE UNIVERSAL POWER SUPPLIES, MODEL UPS 164 LEADER
                  DIGITAL COUNTERS, LEADER VECTORSCOPES, ASSORTED ZENITH
                  TELEVISIONS, (10) ZENITH MONITORS, ZENITH VCR'S
                  PROJECTOR, TEKTRONIX 2465 OSCILLOSCOPE, LEADER PATTERN
                  GENERATOR, GOLDSTAR OSCILLOSCOPE, (2) ZENITH HD PROJECTION
                  DISPLAYS, WORK BENCHES, TABLES, CHAIRS, STOOLS, SENCORE
                  COMPUTER MONITOR ANALYZER,  MODEL CM2000, WORKBENCHES, FILE
                  CABINETS, (10) MODULAR WORK STATIONS W/ WORK TOPS, SWIVEL
                  CHAIRS, 400 LF OF OFFICE PARTITIONS, ZENITH 2 SELECT PC'S,
                  (8) GATEWAY P4D-68 PC'S, (4) MICROFICHE READERS, FLAT BLUE
                  PRINT FILE CABINETS, METAL DISK, CREDENZA (2) GATEWAY
                  PS-120 PC'S, etc..
----------------------------------------------------------------------------------------------------------------------------
5TH FLOOR
ROOM 591 CONFERENCE CENTER
--------------------------
----------------------------------------------------------------------------------------------------------------------------
  140             12' OVAL CONFERENCE TABLE W/ ASSORTED CHAIRS, OVERHEAD       $ 7,500.00        $ 9,000.00       $12,500.00
                  PROJECTOR, (2) 5-DRAWER VERTICAL FILE CABINETS, 12' INLAID
                  OVAL CONFERENCE TABLE W/ 12 CHAIRS, ZENITH TELEVISION W/ VCR,
                  BROWN LEATHER SOFA, (4) LEATHER ARM CHAIRS, 16' OVAL
                  CONFERENCE TABLE W/ ASSORTED CHAIRS, OVERHEAD PROJECTOR,
                  ZENITH TELEVISION VCR PICTURETEL, WORK TABLES, GREASE BOARDS,
                  END TABLES, 12' OVAL CONFERENCE TABLE W/ 12 CHAIRS, PANASONIC

----------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                   $32,500.00        $39,000.00       $52,500.00
----------------------------------------------------------------------------------------------------------------------------

Page 16

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------
 #   ID#                 DESCRIPTION                                           FLV               FMV              FMIPV
----------------------------------------------------------------------------------------------------------------------------
OPEN AREA
---------
----------------------------------------------------------------------------------------------------------------------------
  141             (14) MODULAR WORKSTATIONS INCLUDING WORK TOPS, CABINETS,     $15,000.00        $17,500.00       $25,000.00
                  SWIVEL CHAIRS, APPROXIMATELY 1000 LF. OF OFFICE PARTITIONS,
                  (15) BENTSON 5-DRAWER VERTICAL FILE CABINETS, TYPEWRITERS, HP
                  FAX -950, MICROFICHE, 4-DRAWER VERTICAL FILE
                  CABINETS, (3) 4-DRAWER LATERAL FILE CABINETS, WOOD EXECUTIVE
                  DESKS, 2-DRAWER LATERAL FILE CABINETS, WOOD CREDENZAS, WOOD
                  ROUND CONFERENCE TABLE, CHAIRS, (3) ZENITH Z-SYSTEM 100 PC W/
                  MONITOR, (1) HEWLETT PACKARD DESK JET

                   PRINTER, (5) GATEWAY 2000 P4D-66 PC W/ MONITOR, (1) GATEWAY
                  2000 4DX2-66 PC W/ MONITOR, (1) HEWLETT PACKARD LASERJET 4SI
                  PRINTER, (2) HEWLETT PACKARD LASERJET 4 PRINTER, GATEWAY
                  SOLO PENTIUM LAPTOP COMPUTER, SONY VIDEOCASSETTE RECORDER
                  MODEL VO-5600, ZENITH TELEVISION, WOOD BOOKSHELVES, HIGHBACK
                  SWIVEL CHAIR, STORAGE CABINETS, (2) FOSTER 24-DRAWER ARTWORK
                  CABINETS, REFRIGERATOR

----------------------------------------------------------------------------------------------------------------------------
TRAINING ROOM
-------------
----------------------------------------------------------------------------------------------------------------------------
  142             (9) COMPUTER TABLES, CREDENZA, VERTICAL FILE CABINET, 35"    $ 4,500.00        $ 5,000.00       $ 6,500.00
                  ZENITH TELEVISION, ZENITH HD PROJECTION DISPLAY, (9) ZENITH
                  INTEQ PC'S W/ MONITORS, AV CART, GATEWAY 4DX2-66 PC HP
                  LASERJET II PRINTER

----------------------------------------------------------------------------------------------------------------------------
ROOM # 576 TRAINING ROOM
------------------------
----------------------------------------------------------------------------------------------------------------------------

  143             APPROXIMATELY (25) STACKING CHAIRS (2) ZENITH HP PROJECTION  $ 3,500.00        $ 4,500.00       $ 7,500.00
                  DISPLAY PODIUM, KILPSCH SPEAKERS, LASER DISC PLAYER,
                  DOLBY TEKTRONIX OSCILLOSCOPE, SOUND MIXING BOARD, PIONEER
                  RECEIVER, DECODER, ZENITH AMPLIFIER, TUNER, EQUALIZER,

----------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                   $23,000.00        $27,000.00       $39,000.00
----------------------------------------------------------------------------------------------------------------------------

Page 17

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------
 #   ID#                 DESCRIPTION                                           FLV               FMV              FMIPV
----------------------------------------------------------------------------------------------------------------------------
ROOM 502
--------
----------------------------------------------------------------------------------------------------------------------------
  144             (14) VERTICAL 5-DRAWER FILE CABINETS, METAL DESKS, SWIVEL    $ 6,000.00        $ 7,000.00       $ 8,000.00
                  CHAIRS, (2) DRAFTING TABLES, COMPUTER TABLES, HP OFFICEJET
                  LX FAX MACHINE, ZENITH PC'S, METAL CREDENZAS, MAGNIFYING
                  LAMPS, LIEBERT CHALLENGER A/C UNIT, STORAGE CABINETS, VACUUM
                  FRAME, PAPER CUTTER SILVER RECOVERY UNIT, (2) GATEWAY P5-166
                  PC W/ MONITOR (3) GATEWAY P5-200 PC W/ MONITOR, (3) GATEWAY
                  P5-90 PC W/ MONITOR, GATEWAY P5-133 PC W/ MONITOR

  145    012050   HEWLETT PACKARD MODEL  255 SERIES 7600 PLOTTER               $ 1,500.00        $ 2,000.00       $ 3,000.00

  146    012051   MIVA MODEL 1401 VACUUM FRAME CONTACT PRINTER                 $ 1,250.00        $ 1,750.00       $ 2,600.00

  147    012052   DEVOTEC MODEL MT 20 DEVELOPER                                $ 1,300.00        $ 1,800.00       $ 2,700.00

----------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                   $10,050.00        $12,550.00       $16,300.00
----------------------------------------------------------------------------------------------------------------------------

Page 18

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

-----------------------------------------------------------------------------------------------------------------------------
 #   ID#                 DESCRIPTION                                           FLV               FMV              FMIPV
-----------------------------------------------------------------------------------------------------------------------------
INFORMATION TECHNOLOGY
----------------------
-----------------------------------------------------------------------------------------------------------------------------
  148             (152) HERMAN MILLER MODULAR OFFICE WORKSTATIONS, INCLUDING:  $250,000.00       $300,000.00      $400,000.00
                  WORKTOPS,CABINETS,SWIVEL CHAIRS,APPROX.(8000) LF OF 5' HIGH
                  OFFICE PARTITIONS,(25) BENTSON 5-DRAWER VERTICAL FILE
                  CABINETS,(12) LATERAL FILE CABINETS, XEROX TYPEWRITERS, HP
                  FAX-200, UPS'S, HEWLETT PACKARD FAX-950 FAX, (4) BROTHER
                  2500ML LASER FAX (2) HP FAX-700, HP FAX-310, 2-DRAWER VERTICAL
                  FILE CABINETS, SAVIN 3630 FAX, (5) GATEWAY P5-100 PAC W/
                  MONITOR, (35) GATEWAY P5-75 PC W/ MONITOR, (2) GATEWAY GP5-
                  166 PC W/MONITOR, GATEWAY E-3000 PC W/ MONITOR, GATEWAY
                  P5-200 PC W/ MONITOR, (10) GATEWAY P5-90 PC W/ MONITOR, (4)
                  GATEWAY P5-60 PC W/ MONITOR, (3) GATEWAY P5-120 PC W/
                  MONITOR, (4) HEWLETT PACKARD LASERJET 4M PRINTER, (14)
                  ZENITH Z- MONITOR, HP LASERJET II P, 2) GATEWAY 4PD-66 PC
                  W/MONITOR, ZENITH Z-SERVICE LOT 466XE, MACINTOSH POWER MAC
                  7600/132 PC W/ MONITOR,(7) COMPAQ PROLINEA 5100E W/MONITOR,
                  (3)GATEWAY SOLO PENTIUM LAPTOP W/DOCKING
                  MACINTOSH POWER MAC STATION,(40) GATEWAY 4DX2-66 PC W/
                  MONITOR, (2) GATEWAY E-3000 PC W/ MONITOR, IBM POWERSERVER
                  360, IBM RISC SYSTEM 6000, (5) HEWLETT PACKARD 4 PLUS
                  PRINTER,  HP LASERJET 4SI PRINTER, HP PRINTER, (2) GATEWAY
                  G6-200 PC W/ MONITOR, 7100/80 PC W/ MONITOR, HEWLETT PACKARD
                  NETSERVER 5/100 LS, (2) SUN ULTRA 1, CREATOR 3D W/ (2) SUN
                  SPARC STATIONS, HP SURE STORE DAT 24X6, HEWLETT PACKARD NET
                  SERVER 5/100 LH, HEWLETT PACKARD NET SERVER 5/66 LF, (2)
                  HEWLETT PACKARD DESKJET 1600C, WOODEN EXECUTIVE DESKS,
                  SWIVEL HIGH BACK CHAIRS, ARM CHAIRS, WOODEN CREDENZAS, METAL
                  DESKS, METAL CREDENZAS, CONFERENCE TABLE 8' W/ CHAIRS, WOODEN
                  BOOKSHELVES, ROUND CONFERENCE TABLE, W/ CHAIRS,
                  (CONTINUED ON NEXT PAGE)

-----------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                   $250,000.00       $300,000.00      $400,000.00
-----------------------------------------------------------------------------------------------------------------------------

Page 19

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------
#          ID#            DESCRIPTION                                          FLV               FMV              FMIPV
----------------------------------------------------------------------------------------------------------------------------
INFORMATION TECHNOLOGY (CONT'D)
-------------------------------
----------------------------------------------------------------------------------------------------------------------------
                  (CONT'D FROM PREVIOUS PAGE)
                  WOODEN LATERAL FILE CABINETS, WOODEN WORK CREDENZA, W/
                  OVERHEAD CABINETS, (40) 4-DRAWER VERTICAL FILE CABINETS,
                  CANON PC PRINTER MODEL 50, COMPUDYNE PC, 10' CONFERENCE TABLE
                  W/ (14) SWIVEL CHAIRS, ZENITH TELEVISIONS, (2) LG MODEL 200
                  MMX PC'S, NETPOWER FAST SERIES MP,  COMPAQ PROLIANT JUKEBOX,
                  CISCO SYSTEMS PIX FIREWALL, LIVINGSTON FIREWALL PORT MASTER
                  IRX ROUTER, MODEMS, (2) ALLIED TELESIS CENTRECOM 3008
                  MULTIPORT REPEATER, HP MODEL 715/80, IBM SYSTEM 3174 &
                  3274-41C

----------------------------------------------------------------------------------------------------------------------------
PRODUCT ROOM
------------
----------------------------------------------------------------------------------------------------------------------------

  149             BLACK LEATHER SOFA, GLASS COFFEE TABLE, BLACK LEATHER        $ 1,200.00        $ 1,500.00       $ 2,000.00
                  RECLINER, YELLOW SOFA, STACKING CHAIRS

----------------------------------------------------------------------------------------------------------------------------
EXECUTIVE CONFERENCE ROOM
-------------------------
----------------------------------------------------------------------------------------------------------------------------

  150             30' WOODEN CONFERENCE TABLE W/ (28) RED CLOTH SWIVEL ARM     $ 6,000.00        $ 8,000.00       $11,000.00
                  CHAIRS, PODIUM, ZENITH HD PROJECTION DISPLAY UNIT.

----------------------------------------------------------------------------------------------------------------------------
INSTRUMENT SERVICES ROOM # 559
------------------------------
----------------------------------------------------------------------------------------------------------------------------

  151    012053   FLUKE 5500A CALIBRATOR W/N 6580016                           $ 5,000.00        $ 6,000.00       $ 7,000.00

  152             MISC. EQUIP. INCL: FLUKE TRANSCONDUCTANCE AMPLIFIER, FLUKE   $20,000.00        $25,000.00       $35,000.00
                  732A REFERENCE STANDARD, MULTIMETERS, HP LASERJET 4 PRINTER,
                  BROTHER LASER PRINTER MODEL HL-10V, (3) QUANTUM DATA 8701
                  IMAGERS, VARIOUS TEKTRONIX OSCILLOSCOPES
                  MODEL 468, 7603, 576, 7623A, 2465B, 465B, 2245, 576, 577,
                  TRACKING GENERATORS, DC POWER SUPPLIES, FUNCTION GENERATOR,
                  PANASONIC VP-5720A DIGITAL OSCILLOSCOPE, SWEEP GENERATOR,
                  GATEWAY P5-75 PC, HP SPECTRUM
                  ANALYZERS, CD ROM READERS, ZENITH VCR, NTSC MODEL 520A
                  VECTORSCOPE, AMPMETERS, LAMBDA METER, WORKBENCHES, HAND
                  TOOLS, STORAGE
                  (CONTINUED ON NEXT PAGE)

----------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                   $32,200.00        $40,500.00       $55,000.00
----------------------------------------------------------------------------------------------------------------------------

Page 20

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------
#        ID#              DESCRIPTION                                          FLV               FMV              FMIPV
----------------------------------------------------------------------------------------------------------------------------
INSTRUMENT SERVICES ROOM # 559 (CONT'D)
---------------------------------------
----------------------------------------------------------------------------------------------------------------------------
                  (CONT'D FROM PREVIOUS PAGE)
                  CABINETS, METAL DESKS, (20) VERTICAL FILE CABINETS, METAL
                  CARTS, INSPECTION LIGHTS, TRANSFORMERS, SOLDERING STATIONS,
                  CARD FILES, BENDING BRAKE, SHEAR, DRILL PRESS, GRINDERS,
                  ELECTRONIC COUNTERS, MEASURING RECEIVERS, HP FUNCTION
                  GENERATORS, HIGHBACK LEATHER CHAIR, CREDENZA, FAX MACHINE

  153    012054   FLUKE 5700A CALIBRATOR S/N 4875008                           $ 3,000.00        $ 4,000.00       $ 5,000.00

----------------------------------------------------------------------------------------------------------------------------
ROOM # 565
----------
----------------------------------------------------------------------------------------------------------------------------

  154             (2) GATEWAY GP6-300 PC'S W/ VIVITRON 21 MONITOR, GATEWAY     $25,000.00        $30,000.00       $45,000.00
                  P5-133 PC W/ VIVITRON 17 MONITOR, (2) GATEWAY P5-200 PC'S W/
                  VIVITRON 17 MONITOR,  FLUKE FREQUENCY COUNTER, PHILIPS
                  MULITMETER, SWEEP GENERATOR, GATEWAY P5-166 PC/ VIVTRON
                  MONITOR GATEWAY E-3100 PC W/ VIVITRON MONITOR, SUN SPARC
                  STATION 1, DELTA PEDESTAL DRILL PRESS, ENCO MANUAL NOTCHER,
                  HP SPECTRUM ANALYZER MODEL 855HL, TEKTRONIX OSCILLOSCOPES,
                  GATEWAY E-300 PC W/ MONITOR, (4) TATUNG AXIL ULTRASPARC PC
                  W/ VIVITRON 21 MONITOR, HP LASERJET PRINTERS, (3) ZENITH
                  Z-STATION EX PC W/ COMPAQ MONITOR HEWLETT, PACKARD MODEL
                  16500B LOGIC ANALYSIS SYSTEM, ZENITH STEREO SYSTEM, ZENITH
                  DIGITAL RECEIVER, WORK BENCHES, ELECTRIFIED WORK BENCHES,
                  METAL CARTS, SWIVEL CHAIRS, FILE CABINETS, HAND TOOLS,
                  STORAGE CABINETS, SHELVING, CONFERENCE TABLE, PIONEER
                  TELEVISION

----------------------------------------------------------------------------------------------------------------------------
ROOM # 562
----------
----------------------------------------------------------------------------------------------------------------------------

  155             EQUIPMENT IN STORAGE INCLUDING: SOLAR UPS, COMPUTER          $ 5,000.00        $ 6,500.00       $ 8,000.00
                  MONITORS, PC'S, LASERJET PRINTERS, METAL SHELVING, STORAGE
                  CABINETS, FILE CABINETS

----------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                   $33,000.00        $40,500.00       $58,000.00
----------------------------------------------------------------------------------------------------------------------------

Page 21

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

-----------------------------------------------------------------------------------------------------------------------------
#        ID#                 DESCRIPTION                                         FLV               FMV              FMIPV
-----------------------------------------------------------------------------------------------------------------------------
MAIN FRAME COMPUTER ROOM
------------------------
-----------------------------------------------------------------------------------------------------------------------------
  156    012085   (3) LEIBERT AIR CONDITIONER/ROOM CONDITIONERS                $  2,000.00       $  3,000.00      $  5,000.00
         012086   W/ASSOCIATED EQUIPMENT
         012103

  157    012088   (2) HONEYWELL BULL MODEL 8080 DISC DRIVES                    $  6,000.00       $  8,000.00      $ 16,000.00

  158    012089   HONEYWELL MODEL DPS SYSTEM CONTROLLER                        $ 10,000.00       $ 15,000.00      $ 25,000.00

  159    012090   (2) HONEYWELL BULL MODEL DPS 800 CPU'S                       $  8,000.00       $ 14,000.00      $ 25,000.00
         012091   W/ASSOCIATED HARDWARE

  160             (3) HONEYWELL BULL MODEL DPS-6 FRONT END PROCESSORS          $    100.00       $    150.00      $    200.00

  161    012092   SUN MODEL 4/360 MICROPROCESSORS W/ (4) DISC DRIVES W/ Z-LAN  $ 10,000.00       $ 17,500.00      $ 25,000.00
                  500 MULTI-POST, DIGITAL DISTRIBUTION AMPLIFIER

  162    012093   SUN DVS, DIGITAL VIDEO SYSTEM W/ CABINET                     $ 12,000.00       $ 15,000.00      $ 22,000.00

  163    012094   SONY MODEL HDD-1000 DIGITAL HIGH DEFINITION VIDEO RECORDER,  $ 12,000.00       $ 15,000.00      $ 22,000.00
                  1988

  164    012095   SONY MODEL 4-2-2 COMPONENT DIGITAL HIGH DEFINITION TAPE      $  5,000.00       $  7,500.00      $ 12,000.00
                  RECORDER, W/ MONITOR

  165    012097   (2) HEWLETT PACKARD NET SERVERS MODEL 5/66 LM                $  5,000.00       $  7,000.00      $ 10,000.00
         012098   W/ASSOCIATED HARDWARE

  166    012086   (8) HONEYWELL BULL DISC DRIVES MODEL 3391                    $ 20,000.00       $ 25,000.00      $ 40,000.00
         012087   W/ASSOCIATED HARDWARE

  167             ZENITH FILE SERVERS, RACKS, HIGH SPEED PRINTERS, ZYPLEXS     $ 15,000.00       $ 20,000.00      $ 35,000.00
                  CONNECTOR, LASER PRINTERS, SONY MONITORS, PANASONIC D340
                  DIGITAL VIDEO CASSETTE RECORDER, STORAGE CABINETS, UPS'S (3)
                  DATAPRODUCTS LASER PRINTERS, SUN SPARC STATION,
                  MONITORS, POWERWARE UPS'S, DIGITAL ALPHA SERVER 1000

-----------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                   $105,100.00       $147,150.00      $237,200.00
-----------------------------------------------------------------------------------------------------------------------------

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APRIL 1, 1998

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#       ID#              DESCRIPTION                                           FLV               FMV              FMIPV
-----------------------------------------------------------------------------------------------------------------------------
MAIN FRAME COMPUTER ROOM (CONT'D)
---------------------------------
-----------------------------------------------------------------------------------------------------------------------------
  168   012100    (3) COMPAQ PROLIANT MODEL 2500 SERVERS W/ DISC DRIVES,       $ 40,000.00       $ 60,000.00      $ 90,000.00
        012104    KEYBOARDS, APC UPS UNIT W/ RACKS, ENCLOSED, TAPE DRIVES,
        012105    MONITORS

  169    012099   IBM AS/400 MAIN FRAME COMPUTER SYSTEM (2) DISC DRIVES, CPU,  $ 35,000.00       $ 50,000.00      $ 80,000.00
                  POWER SUPPLY, (2) POWERWARE MODEL 125 UPS'S W/ (3) IBM 3590
                  TAPE DRIVES, MONITOR, (5) SMALL POWERWARE UPS, W/ (2) GATEWAY
                  2000 4DX2-66 PC W/ MONITOR

  170    012101   IBM RISC SYSTEM 6000, R50 MAINFRAME COMPUTER SYSTEM, CPU W/  $ 10,000.00       $ 15,000.00      $ 22,500.00
                  (2) IBM MODEL 7133-020 DISC TAPE DRIVES W/ IBM MODEL 7137

  171    012102   DIGITAL TERMINAL SERVER W/ TZ887 TAPE DRIVE, W/ (4) DISC     $  7,500.00       $ 12,000.00      $ 20,000.00
                  STORAGE UNITS, W/ ALPHA SERVER MODEL 1000A TERMINAL

-----------------------------------------------------------------------------------------------------------------------------
4TH FLOOR EXTERIOR EXECUTIVE OFFICES
------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
  172             INCL. BUT NOT LIMITED TO: APPROX. (58) EXEC.OFFICES          $ 90,000.00       $110,000.00      $150,000.00
                  CONSISTING OF: WOODEN ASSORTED STYLE EXECUTIVE DESKS W/
                  CREDENZAS, CONF.TABLES, STRAIGHT LEG ARM CHAIRS, HIGHBACK
                  SWIVEL CHAIRS, FILE CABINETS, GREASE BOARDS, TV'S,
                  ZENITH STEREOS, GLASS BOOKSHELVES, LEATHER ARM CHAIRS, SOFAS,
                  COFFEE TABLES, END TABLES, ROUND CONFERENCE TABLES, HIGHBACK
                  LEATHER CHAIRS, HP FAX-700, ANTIQUE ZENITH RADIO, (22) GATEWAY
                  P5-75 PC W/MONITOR, (7) GATEWAY P4D-66
                  PC W/MONITOR,GATEWAY P5-100 PC W/MONITOR W/CD ROM, COMPAQ
                  PRESARIO CDTV 520 PC W/MONITOR (2) GATEWAY P5-90 PC W/
                  MONITOR, (3) GATEWAY P5-200 PC W/ MONITOR W/ CD ROM, HEWLETT
                  PACKARD LASERJET PRINTERS, IBM PC W/ MONITOR, (2) ZENITH
                  Z-SELECT 100 PC W/ MONITOR,HEWLETT PACKARD LASERJET III
                  PRINTERS, GOLDSTAR PC W/MONITOR, IBM THINK PAD 560, (3) HP
                  LASERJET 5 PRINTER, HP DESKJET 600 PRINTER, XEROX WORK
                  CENTER CONTINUED ON NEXT PAGE

-----------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                   $182,500.00       $247,000.00      $362,500.00
-----------------------------------------------------------------------------------------------------------------------------

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GLENVIEW FACILITY #31
APRIL 1, 1998

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#    ID#                 DESCRIPTION                                           FLV               FMV              FMIPV
-----------------------------------------------------------------------------------------------------------------------------
4TH FLOOR EXTERIOR EXECUTIVE OFFICES (CONT'D)
---------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
                  CONT'D FROM PREVIOUS PAGE
                  450C FAX, HP DESKJET F540 PRINTER, GATEWAY 2000 SOLO LAPTOP
                  COMPUTER, HP DESKET 520 PRINTER, MAHOGANY LEATHER INLAID DESK
                  W/CLOTH ARM CHAIRS, ENTNMT UNIT 16' EXECUTIVE CONF.TBL. W/
                  (24) HIGHBACK LEATHER ARM CHAIRS, VARIOUS LAPTOP COMPUTERS,
                  AND GATEWAY PENTIUM PC'S, ETC.

-----------------------------------------------------------------------------------------------------------------------------
4th FLOOR INTERIOR OPEN OFFICES
-------------------------------
-----------------------------------------------------------------------------------------------------------------------------

  173             INCLUDING BUT NOT LIMITED TO: SECRETARIAL METAL DESKS, METAL $100,000.00       $120,000.00      $170,000.00
                  BOOKSHELVES, (170) 4-DRAWER VERTICAL FILE CABINETS, (350)
                  5-DRAWER VERTICAL FILE CABINETS, 4-DRAWER LATERAL FILE
                  CABINETS, L-SHAPED WOODEN EXECUTIVE DESK W/ MATCHING CREDENZA,
                  OVAL CONFERENCE TABLE, ARM CHAIRS, SWIVEL BASE HIGH BACK
                  CHAIRS, TYPEWRITERS, ADDING MACHINES, PANASONIC FAX L-SHAPED
                  WOODEN SECRETARIAL WORK STATIONS, 2-DRAWER LATERAL WOODEN
                  FILE CABINETS, ASSORTED HP DESKJET PRINTERS, BROTHER FAX
                  MACHINE, XEROX TYPEWRITER, PAPER SHREDDERS, STORAGE
                  CABINETS, DOT MATRIX PRINTERS, MOSLER 2-DOOR SAFE, GBC
                  BINDER, ROUND CONFERENCE TABLE AND CHAIRS, (2) MEILINK
                  SAFES, LIBRARY SHELVES, ZENITH 386 PC'S, CONTRACTS, RICOH
                  FAX 60, BREAKROOM TABLES, MICROWAVES, (2) GATEWAY P5-166 PC,
                  (9) GATEWAY P5-90 PC W/ MONITOR, (26) GATEWAY 4DX2-66 PC W/
                  MONITOR, (32) GATEWAY P5-75 PC'S W/ MONITOR, (5) GATEWAY
                  PC'S GPS-166 W/ MONITOR, CANON L777 FAX MACHINE, (7) HEWLETT
                  PACKARD LASERJET 4 PLUS, (24) ZENITH Z-SELECT 100 PC'S W/
                  MONITOR, ASSORTED HP LASERJET PRINTERS, GATEWAY P5-75 PC W/
                  MONITOR, HEWLETT PACKARD 6P PRINTER, HP FAX-200, (2) HP FAX-
                  700, HP LASERJET 4M PRINTER, SAVIN MODEL 3630 FAX MACHINE,
                  (6) HP LASERJET W/ PRINTER, (2) GATEWAY
                  (CONTINUED ON NEXT PAGE)

-----------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                   $100,000.00       $120,000.00      $170,000.00
-----------------------------------------------------------------------------------------------------------------------------

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APRIL 1, 1998

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#   ID#                                DESCRIPTION                                       FLV              FMV         FMIPV
----------------------------------------------------------------------------------------------------------------------------------
4th FLOOR INTERIOR OPEN OFFICES (CONT'D)
----------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
                CONT'D FROM PREVIOUS PAGE GP5-233 PC'S W/ MONITOR,
                CANON LASER CLASS 1000 FAX MACHINE, ZENITH IMEQ PC W/ MONITOR,
                (3) HEWLETT PACKARD LASERJET 4SI PRINTER, CANON PC PRINTER 70,
                CANON MICROPRINTER 90, COMPUDYNE 488 PC W/ MONITOR,
                STANDARD REGISTER COPIER W/ KYOCERA PF-1 PAPER FEEDER, (2)
                STANDARD REGISTER MODEL PL3010 PRINTER, GATEWAY G6-333 PC W/
                MONITOR, COMPAQ DESKTOP PC W/ MONITOR, (5) GATEWAY P5-133 PC W/
                MONITOR, HEWLETT PACKARD SCANJET 5P FLATBED SCANNER, HEWLETT
                PACKARD DESKJET  1600M PRINTER, GATEWAY P5-60 PC W/ MONITOR,
                GATEWAY G6-200 PC W/ MONITOR, HP FAX-310, HP LASERJET 5 PRINTER,
                HP LASERJET 4000T PRINTER, PROCOM TECHNOLOGY CD TOWER, APPROXIMATELY
                1200 LF. OF 5' & 4' HIGH MODULAR OFFICE PARTITIONS & WORKSTATIONS
                INCLUDING WORK TOPS, CABINETS, SWIVEL CHAIRS etc..

----------------------------------------------------------------------------------------------------------------------------------
3RD FLOOR CPME MECHANICAL ENGINEERING
-------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
174             MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT LIMITED TO:            $10,000.00   $18,000.00    $27,500.00
                MODULAR WORK STATIONS, STORAGE SHELVES, DRAFTING TABLE,
                BOOKCASE, BALANCE SCALE, IBM SELECTRIC TYPEWRITER, ARM CHAIRS,
                CONFERENCE TABLE, METAL DESKS, ZENITH 386 PERSONAL COMPUTER,
                MICROSCOPE, PRINTERS, METRO STORAGE SHELVE, HP SCAN JET 4C FLAT
                BED SCANNER, MONITORS, PAPER CUTTER, CHATILLON PRESSURE TENSILE
                TESTER MODEL UTSE

175             (3) GATEWAY 2000 PENTIUM 90 MHZ PERSONAL COMPUTER W/ ZENITH              $ 6,000.00   $ 7,500.00    $ 9,000.00
                FLAT TECH MONITOR MOUSE, (3) GATEWAY 2000 PENTIUM 200 MHZ
                PERSONAL COMPUTER W/ ZENITH MONITOR, (2) GATEWAY 2000 PENTIUM
                100 MHZ PERSONAL COMPUTERS W/ ZENITH FLAT TECH MONITOR,
                (CONTINUED ON NEXT PAGE)
----------------------------------------------------------------------------------------------------------------------------------
                PAGE TOTAL                                                               $16,000.00   $25,500.00    $36,500.00
----------------------------------------------------------------------------------------------------------------------------------

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APRIL 1, 1998

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#   ID#                                DESCRIPTION                                            FLV            FMV           FMIPV
------------------------------------------------------------------------------------------------------------------------------------
3RD FLOOR CPME MECHANICAL ENGINEERING (CONT'D)
----------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
                  CONT'D FROM PREVIOUS PAGE
                  (3)  GATEWAY  2000  PENTIUM 150 MHZ PERSONAL COMPUTERS W/
                  ZENITH FLAT TECH MONITOR, (2) GATEWAY 2000 PENTIUM 133 MHZ
                  PERSONAL COMPUTER W/ ZENITH FLAT TECH MONITOR, HEWLETT PACKARD
                  LASER JET SI LASER PRINTER, HEWLETT PACKARD LASER JET
                  4V LASER PRINTER, HEWLETT PACKARD DESK JET PRINTER, (5)
                  COMPUTER FILE SERVERS, ZENITH PERSONAL COMPUTERS, (2) NET POWER
                  PERSONAL COMPUTER & FAST SERIES W/ UGA MONITORS, (14) NET POWER
                  PERSONAL COMPUTER CALISTO W 21"
                  MONITOR MOUSE, NET POWER PERSONAL COMPUTER

176       14000   HEWLETT PACKARD 7600 SERIES MODEL 255 PLOTTER                            $ 1,200.00     $ 1,500.00    $ 1,700.00

177       14001   SILICON GRAPHICS INDIGO 2 COMPUTER WORK STATION W/ 19" SVGA              $ 3,000.00     $ 4,000.00    $ 5,000.00
                  MONITOR
------------------------------------------------------------------------------------------------------------------------------------
MAINTENANCE SHOP
----------------
------------------------------------------------------------------------------------------------------------------------------------

178               DIACRO CORNER NOTCHER MODEL NO. 2, DIACRO BENCH TOP FINGER               $ 5,000.00     $ 6,000.00    $ 8,000.00
                  BENDING, BRAKE BENCH TOP DRILL PRESS, DOUBLE ENDED BENCH
                  GRINDER, BALANCE SCALE, (3) VIDMAR STYLE STORAGE CABINETS, HOLE
                  PUNCH, MECHANICAL PRESS BRAKE, STORAGE CABINETS AND
                  SHELVES, MASTER SETS, HIPOT TESTER 100 SERIES
------------------------------------------------------------------------------------------------------------------------------------
TECHNICAL SERVICES
------------------
------------------------------------------------------------------------------------------------------------------------------------

179               MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING STORAGE SHELVES INDEX          $ 4,000.00     $ 5,000.00    $ 7,500.00
                  FILES, PAPER CUTTER, METAL DESKS, TAPE DISPENSERS, INSPECTION
                  LAMPS, RICOH FAX MACHINE, STOOLS OFFICE PARTITIONS, CONFERENCE
                  TABLE, ARM CHAIRS, MARKER BOARD VIDMAR PORTABLE
                  CABINET, HERCULES DIE LIFT TABLE, 24X36" GRANITE SURFACE PLATE,
                  DIACRO CORNER NOTCHER, PALLET JACK, ORBIT BENCH TOP DRILL
                  PRESS, DOUBLE ENDED GRINDER, DIACRO FINGER BRAKE NO.12, HAND
                  TOOLS
------------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                               $13,200.00     $16,500.00    $22,200.00
------------------------------------------------------------------------------------------------------------------------------------

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APRIL 1, 1998

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#   ID#                                DESCRIPTION                                            FLV            FMV           FMIPV
------------------------------------------------------------------------------------------------------------------------------------
TECHNICAL SERVICES (CONT'D)
---------------------------
------------------------------------------------------------------------------------------------------------------------------------
  180             (2) TEKTRONIX MODEL 465 STORAGE OSCILLOSCOPE,  TEKTRONIX MODEL           $ 1,000.00      $ 1,200.00   $ 1,400.00
                  468 STORAGE OSCILLOSCOPE, WELLER SOLDER GUN, DIGITAL MULTI
                  METERS, OSCILLATOR

  181             GATEWAY 2000 PENTIUM 133 PC, (3) GATEWAY 2000 PENTIUM 100 PC,            $ 2,400.00      $ 3,000.00   $ 3,500.00
                  (3) ZENITH PERSONAL COMPUTERS, INDUSTRIAL COMPUTER MONITORS, HP
                  LASERJET PRINTER SERIES II, CABLE-TRON ETHERNET HVP LANVIEW MR
                  5000C

  182     14002   TEKTRONIX 2445 150MHZ OSCILLOSCOPE                                       $ 1,400.00      $ 1,600.00   $ 1,900.00

  183     14003   TEKTRONIX 2445 150MHZ OSCILLOSCOPE                                       $ 1,400.00      $ 1,600.00   $ 1,900.00
------------------------------------------------------------------------------------------------------------------------------------
COLOR TELEVISION
----------------
------------------------------------------------------------------------------------------------------------------------------------

  184             MISCELLANEOUS OFFICE FURNITURE INCLUDING BUT NOT LIMITED TO:             $ 1,000.00      $ 1,500.00   $ 2,000.00
                  METAL PARTITIONS, BOOKCASES, DESKS, SWIVEL CHAIRS, CARTS,
                  VERTICAL FILE CABINETS, IBM SELECTRIC II TYPEWRITER, WORK TABLES

  185             MISCELLANEOUS TEST EQUIPMENT INCLUDING ELECTROSTATIC VOLTMETER,          $ 3,000.00      $ 3,750.00   $ 4,500.00
                  LEADER PROGRAMMABLE VIDEO GENERATOR MODEL 1604 A, HP AUTOMATIC
                  SYNTHESIZER, DIGITAL COUNTER, TEKTRONIX 7613 OSCILLOSCOPE, W/
                  CART, VOLTMETER TEST BENCHES,
                  COPPER BOOTHS, DIGITAL AC METER, LEADER 35MHZ OSCILLOSCOPE,
                  TEST FIXTURES

  186             MISCELLANEOUS OFFICE EQUIPMENT INCLUDING: BUT NOT LIMITED TO:            $ 3,500.00      $ 4,250.00   $ 5,000.00
                  DIABLO PRINTER,  (3) ZENITH PERSONAL COMPUTERS, MONITORS,
                  GATEWAY 2000 PENTIUM 100 MHZ PC, GATEWAY 2000 PENTIUM 120 MHZ
                  PC, HP PLAIN PAPER FAX MACHINE, HP LASER JET III, GATEWAY 2000
                  PENTIUM
                  75 PC, HP DESK JET PRINTER, (2) GATEWAY 2000 NOTEBOOK PERSONAL
                  COMPUTER
------------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                               $13,700.00      $16,900.00   $20,200.00
------------------------------------------------------------------------------------------------------------------------------------

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APRIL 1, 1998

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#   ID#                                DESCRIPTION                                            FLV            FMV           FMIPV
------------------------------------------------------------------------------------------------------------------------------------
COLOR TELEVISION (CONT'D)
---------------------------
------------------------------------------------------------------------------------------------------------------------------------
  187     14004   ECAT CONTROL CENTER MODEL ECLASS SERIES 100, SURGE NETWORK,              $ 2,000.00    $ 2,500.00    $ 3,000.00
                  EPT, MAIN COUPLER, ASSOC.EQUIP.

  188     14005   NEC ND:YAG LASER FLASHOVER INDUCER MODEL YL129, W/ ASSOCIATED            $ 4,000.00    $ 5,000.00    $ 6,000.00
                  EQUIPMENT
------------------------------------------------------------------------------------------------------------------------------------
DISPLAY SYSTEMS
---------------
------------------------------------------------------------------------------------------------------------------------------------

  189             MISCELLANEOUS OFFICE FURNITURE INCLUDING WORKTABLES, STORAGE             $ 1,500.00    $ 2,000.00    $ 2,500.00
                  CABINETS, CARTS, BOOKCASES, MARKER BOARDS, VERTICAL FILES,
                  SWIVEL CHAIRS, LADDER, METRO STYLE CART, ELECTRIFIED WORK
                  BENCHES, CONFERENCE TABLE, METAL PARTITIONS, DESKS, ARM CHAIRS

  190             MISCELLANEOUS INSPECTION TEST EQUIPMENT INCLUDING:  DIGITAL              $ 4,500.00    $ 5,250.00    $ 6,000.00
                  MULTI METER, ELECTRO STATIC VOLTMETER: SOLDER GUNS, LEADER
                  PROGRAMMABLE VIDEO GENERATOR, QUANTUM VIDEO PLUG IN MODULE
                  BCF-135 VOLT METER, ELECTROSTATIC VOLT METER,
                  HP 1740A OSCILLOSCOPE, 100MHZ TEKTRONIX 469B OSCILLOSCOPE,
                  TEKTRONIX 2215 60MHZ OSCILLOSCOPE, SORENSEN HIGH VOLTAGE POWER
                  SUPPLY, 10-30-20, CI POWER SUPPLY GAUSSMETER, INTERPOWER
                  INTERNT'L. POWER SUPPLY, ELGAR AC POWER SOURCE 501B, VIDEO
                  TEST STAND, TENNEY SST ENVIRONMENTAL TEST CHAMBER

  191             MISCELLANEOUS OFFICE EQUIPMENT INCLUDING: ZENITH STEREO                  $ 3,500.00    $ 4,000.00    $ 4,500.00
                  RECEIVERS, STEREO'S, ZENITH VCR'S PIONEER LASER DISC CD PLAYER,
                  UPS, HP DESK JET 1600C PRINTER, (2) GATEWAY 2000 PENTIUM 166MHZ
                  PC, GATEWAY 2000 PENTIUM 100 MHZ PC, ZENITH PC,
                  INDUSTRIAL PC,EPSON WIDE BAND PRINTER, ZENITH AMPLIFIER, ZENITH
                  DATA SYSTEM DISPLAY TERMINAL, GATEWAY 2000 PENTIUM 133 MHZ PC
------------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                               $15,500.00    $18,750.00    $22,000.00
------------------------------------------------------------------------------------------------------------------------------------

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APRIL 1, 1998

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#   ID#                                DESCRIPTION                                            FLV            FMV           FMIPV
------------------------------------------------------------------------------------------------------------------------------------
DISPLAY SYSTEMS (CONT'D)
------------------------
------------------------------------------------------------------------------------------------------------------------------------
  192     14006   SPELLMAN MAGNETIC FIELD TEST STAND W/ ORBITAL FIXTURE, (2)               $ 4,000.00     $ 5,500.00    $ 7,000.00
                  SPELLMAN HIGH VOLTAGE DC POWER SUPPLY, QUANTUM VIDEO PLUG- IN
                  MODULAR ACV285 ZENITH PERSONAL COMPUTER, SPERRY RAND DYCOME,
                  ASSOCIATED EQUIPMENT

  193     14007   DELL ELECTRONICS CUSTOM PROJECTION TUBE INSPECTION STATION W/            $ 2,000.00     $ 3,000.00    $ 4,000.00
                  POWER SUPPLIES, FIXTURE, TEKTRONIX 2215 60MHZ OSCILLOSCOPE
                  MONITOR, ITP CONTROL UNIT, SPELLMAN HV POWER SUPPLIES
------------------------------------------------------------------------------------------------------------------------------------
MARKETING
---------
------------------------------------------------------------------------------------------------------------------------------------

  194             MISCELLANEOUS OFFICE FURNITURE & EQUIPMENT INCLUDING: WORK               $ 4,000.00     $ 4,750.00    $ 5,500.00
                  STATION PARTITIONS, MICROFICHE VIEWER, CALCULATOR, BOOKCASE,
                  METAL DESKS, STORAGE CABINETS, OKIDATA MICROLINE PRINTER,
                  GATEWAY 2000 PENTIUM 75 PC, HP LASER JET SERIES II,
                  GATEWAY 2000 PENTIUM 90 PC, TOSHIBA NOTEBOOK PC, CREDENZA
                  EXECUTIVE DESK, VERTICAL FILE CABINETS, MONITORS, GATEWAY 2000
                  PENTIUM II PC, EPSON LQ 1070 WIDE BAND PRINTER
------------------------------------------------------------------------------------------------------------------------------------
CABLE INTERNATIONAL SALES
-------------------------
------------------------------------------------------------------------------------------------------------------------------------

  195             MISCELLANEOUS FURNITURE FIXTURES AND EQUIPMENT INCLUDING:                $ 6,000.00     $ 7,000.00    $ 8,000.00
                  BOOKCASES, METAL PARTITIONS, ERICSON TYPEWRITER, ARM CHAIR,
                  CREDENZA, CONFERENCE TABLES, EXECUTIVE DESKS, VERTICAL FILE
                  CABINETS, HIGHBACK CHAIR, SWIVEL CHAIRS, OVERHEAD
                  PROJECTOR, VCR, MARKER BOARD, ANTIQUE RADIO'S, WOOD ANTIQUE
                  STYLE DESK, GATEWAY 2000 PENTIUM 90 MHZ PC, (2) HP DESK JET
                  PRINTERS, (2) GATEWAY 2000 PENTIUM NOTEBOOK PC'S
------------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                               $16,000.00     $20,250.00    $24,500.00
------------------------------------------------------------------------------------------------------------------------------------

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GLENVIEW FACILITY #31
APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                                FLV            FMV            FMIPV
---------------------------------------------------------------------------------------------------------------------------------
NETWORK SYSTEMS PRODUCTION MANAGEMENT
-------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
 196              MISCELLANEOUS FURNITURE & EQUIPMENT INCLUDING: METAL STORAGE       $  6,000.00    $  8,000.00    $  9,500.00
                  CABINETS, REFRIGERATOR, WORK STATIONS, FELLOWS PAPER SHREDDER,
                  FORMICA CREDENZA'S CONFERENCE TABLE, VERTICAL FILE CABINETS,
                  IBM SELECTRIC II TYPEWRITER, LATERAL FILE CABINETS, STANDS,
                  SAVIN PLAIN PAPER FAX MACHINE 3670 PRINT-RONIX HIGH SPEED BAND
                  PRINTERS, HP LASER JET 4M PRINTER, GATEWAY 2000 PENTIUM 133 MHZ
                  PC, ZENITH 286 PC, GATEWAY 2000 PC 486, GATEWAY 2000 PC MODEL
                  E3000, HP LASER JET 5L PRINTER, (2) ZENITH 386 PC, GATEWAY 2000
                  PENTIUM 150MHZ PC, GATEWAY 2000 PENTIUM 120 PC, GATEWAY 2000
                  PENTIUM 100 PC

---------------------------------------------------------------------------------------------------------------------------------
TUNER SYSTEMS
-------------
---------------------------------------------------------------------------------------------------------------------------------
 197              MISCELLANEOUS FURNITURE INCLUDING: STORAGE SHELVES, VERTICAL       $    600.00    $  1,000.00    $  1,500.00
                  FILES, SWIVEL CHAIRS, ELECTRIFIED WORK BENCHES, DESKS, VERTICAL
                  FILE CABINETS, CARTS, COAT RACK

 198              MISCELLANEOUS TEST INSPECTION EQUIPMENT INCLUDING: HP TRACKING     $ 12,000.00    $ 15,000.00    $ 18,000.00
                  GENERATOR, TEKTRONIX 7613 OSCILLOSCOPE, HP SPECTRUM ANALYZER,
                  SOLDER GUNS, MULTI METER, PM PATTERN GENERATOR, QUANTUM VIDEO
                  PLUG-IN MODULE, STUDIO CONTROL MODULE,
                  LEADER LCG 400 PATTERN GENERATOR, (3) HP 2445 150MHZ
                  OSCILLOSCOPE, NEDHAMS DEVICE PROGRAMMER, TEKTRONIX 1410
                  GENERATOR, REGULATED POWER SUPPLY, VARIAC AUTO TRANSFORMER, UD
                  PROGRAMMER, PM 5418 COLOR
                  TV, PATTERN GENERATOR, HP DC POWER SUPPLY, TEKTRONIX 468
                  OSCILLOSCOPE, HP SIGNAL GENERATOR, HEATHKIT LAB BREAD BOARD ET
                  3300, BK CD POWER SUPPLY, COPPER BOOTH
---------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                         $ 18,600.00    $ 24,000.00    $ 29,000.00
---------------------------------------------------------------------------------------------------------------------------------

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GLENVIEW FACILITY #31
APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                                FLV            FMV            FMIPV
---------------------------------------------------------------------------------------------------------------------------------
TUNER SYSTEMS (CONT'D)
----------------------
---------------------------------------------------------------------------------------------------------------------------------
 199              MISCELLANEOUS OFFICE EQUIPMENT INCLUDING: VCR'S, ENCODERS,         $  8,500.00    $ 11,000.00    $ 13,000.00
                  GATEWAY 2000 PENTIUM 133 PC, (3) GATEWAY 2000 PENTIUM 166 PC,
                  SONY LASERMAN VIDEO DISC PLAYER, UDP-2000, JVC VHS, ZENITH 486
                  PC, MODEMS, ZENITH PENTIUM PC, GATEWAY 2000
                  PENTIUM 100 PC, ZENITH STEREO SYSTEM W/ DUAL CASSETTE,
                  AMPLIFIER VCR LASER DISC, (2) ZENITH 386 PC, HP SURE STONE
                  DEVICE, HP LASER JET III PRINTER, ZENITH FILE SERVER

 200   14008      TEKTRONIX TDS 350 200MHZ 2 CHANNEL OSCILLOSCOPE                    $  1,750.00    $  2,200.00    $  2,500.00

 201   14009      TEKTRONIX 11402 DIGITIZING OSCILLOSCOPE W/ AMPS, COMPARATOR,       $  4,000.00    $  4,500.00    $  5,000.00
                  CART, ASSOCIATED EQUIPMENT S/N 010959

---------------------------------------------------------------------------------------------------------------------------------
INDUSTRIAL DESIGN
-----------------
---------------------------------------------------------------------------------------------------------------------------------
 202              MISCELLANEOUS FURNITURE AND FIXTURES INCLUDING: DESKS, CHAIRS,     $  3,500.00    $  4,000.00    $  4,500.00
                  OFFICE PARTITIONS, 30" PAPER CUTTER, (8) 5-DRAWER BLUE PRINT
                  FILE CABINETS, FORMICA TOP DESKS, CREDENZA'S, METAL STORAGE
                  CABINETS, VERTICAL FILE CABINETS, DRAFTING TABLE

 203              MISCELLANEOUS OFFICE EQUIPMENT INCLUDING: HP LASER JET SERIES      $  5,000.00    $  6,000.00    $  7,000.00
                  II PRINTER, ZENITH Z-SELECT 100 PC, GATEWAY PENTIUM 100 MHZ PC,
                  VIDEO CAMERAS, VCR, (2) GATEWAY PENTIUM 90MHZ PC, SEIKO INST.
                  SII COLOR PRINTER, (2) SGL IRIS INDIGO ELAN,  (2)
                  GATEWAY 2000 PENTIUM 200MHZ PC, GATEWAY 2000 PENTIUM 150 PC, W/
                  ASSOCIATED HARDWARE & SOFTWARE

 204   14010      SILICONE GRAPHICS INDIGO 2 COMPUTER SYSTEMS W/ SVGA MONITOR,       $  3,000.00    $  4,000.00    $  5,000.00
                  MOUSE, ASSOCIATED HARDWARE & SOFTWARE

 205   14011      SILICONE GRAPHICS INDIGO 2 COMPUTER SYSTEMS W/ SVGA MONITOR,       $  3,000.00    $  4,000.00    $  5,000.00
                  MOUSE, ASSOCIATED HARDWARE & SOFTWARE

---------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                         $ 28,750.00    $ 35,700.00    $ 42,000.00
---------------------------------------------------------------------------------------------------------------------------------

Page 31

GREENWICH INDUSTRIAL SERVICES, LLC
APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                                FLV            FMV            FMIPV
---------------------------------------------------------------------------------------------------------------------------------
INDUSTRIAL DESIGN (CONT'D)
--------------------------
---------------------------------------------------------------------------------------------------------------------------------
 206   14012      SILICONE GRAPHICS INDIGO 2 COMPUTER SYSTEMS W/ SVGA MONITOR,       $  3,000.00    $  4,000.00    $  5,000.00
                  MOUSE, ASSOCIATED HARDWARE & SOFTWARE

 207   14014      SILICONE GRAPHICS INDIGO 2 COMPUTER SYSTEMS W/ SVGA MONITOR,       $  3,000.00    $  4,000.00    $  5,000.00
                  MOUSE, ASSOCIATED HARDWARE & SOFTWARE

 208   14015      SILICONE GRAPHICS INDIGO 2 COMPUTER SYSTEMS W/ SVGA MONITOR,       $  3,000.00    $  4,000.00    $  5,000.00
                  MOUSE, ASSOCIATED HARDWARE & SOFTWARE

 209   14013      POWER COMPUTING POWER TOWER PRO 225 GRAPHIC ARTS WORK STATION,     $  3,000.00    $  3,750.00    $  4,250.00
                  W/ HP FLAT BED SCANNER, SCANJET IICX INTEQ MONITOR

---------------------------------------------------------------------------------------------------------------------------------
CONSUMER PRODUCT ENGINEERING
----------------------------
---------------------------------------------------------------------------------------------------------------------------------
 210              MISCELLANEOUS OFFICE FURNITURE INCLUDING: COATRACKS, FORMICA       $  2,500.00    $  3,000.00    $  3,500.00
                  DESKS, STORAGE CABINETS, SWIVEL CHAIRS, CONFERENCE TABLES,
                  SWIVEL CHAIRS, PROJECTION TV, ERASABLE MARKER BOARD, OVERHEAD
                  PROJECTOR, PAPER CUTTER, VCR, VERTICAL FILE, CABINETS, FOLDING
                  CHAIRS, MARKER BOARD, EXECUTIVE DESK, WALL UNIT, CREDENZA

 211              MISCELLANEOUS OFFICE EQUIPMENT INCLUDING: RICOH PLAIN PAPER FAX    $  3,500.00    $  4,100.00    $  4,700.00
                  MACHINE MODEL FAX 3500L, GATEWAY 2000 PENTIUM 90 PC, GATEWAY
                  2000 PENTIUM 150 PC, (2) HP LASERJET 4 PRINTER, IBM WHEELWRITER
                  TYPEWRITER, CANON BUBBLE JET PRINTER, NOTEBOOK PC, GATEWAY
                  2000 PENTIUM 133 PC, GATEWAY 2000 PENTIUM 100 PC, HP LASER JET
                  6L PRINTER, MINOLTA TV VIDEO ANALYZER, HP FAX 900 PLAIN PAPER
                  FAX MACHINE

 212   14016      XEROX DOCUMENT CENTRE 230 DC W/ FEEDER CONTROLLER                  $  3,000.00    $  4,000.00    $  5,000.00

---------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                         $ 21,000.00    $ 26,850.00    $ 32,450.00
---------------------------------------------------------------------------------------------------------------------------------

Page 32

GREENWICH INDUSTRIAL SERVICES, LLC
APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                                FLV            FMV            FMIPV
---------------------------------------------------------------------------------------------------------------------------------
LARGE SIGNAL GROUP
------------------
---------------------------------------------------------------------------------------------------------------------------------
 213              MISCELLANEOUS FURNITURE & FIXTURES INCLUDING: WOOD ARM CHAIRS,     $  2,000.00    $  2,500.00    $  3,000.00
                  WORK TABLES, STORAGE CABINETS, FORMICA TABLES, BOOKCASE,
                  ELECTRIFIED TABLES, CONFERENCE TABLE, REFRIGERATOR, SWIVEL
                  CHAIRS, LIGHT TABLE

 214              MISCELLANEOUS OFFICE EQUIPMENT INCLUDING: (9) GATEWAY 2000         $  7,000.00    $  8,000.00    $  9,500.00
                  PENTIUM 100 PC, GATEWAY 2000 PENTIUM 90 PC, (4) GATEWAY 2000
                  PENTIUM 166 PC, GATEWAY 2000 PENTIUM 150 PC, HP LASER JET III P
                  PRINTER, HP LASER JET II P PRINTER

 215              MISC. TEST AND INSPECTION EQUIPMENT INCLUDING: (2) QUANTUM DATA    $ 20,000.00    $ 27,500.00    $ 35,000.00
                  VIDEO PLUG-IN MODULE BCF-135 SOLDER GUNS: TEKTRONIX TYPE 547
                  OSCILLOSCOPE, PROBE AMPLIFIER, CURRENT DIV, ELECTROSTATIC VOLT
                  METER, VARIAC TRANSFORMER, PULSE GENERATOR, DC POWER SUPPLIES,
                  TEKTRONIX 7934 STORAGE OSCILLOSCOPE, REGULATED POWER SUPPLIES,
                  VOLT METER, DIGITAL MULTI METERS, HIPOT TESTER, LEADER VIDEO
                  GENERATOR, MODEL 1604M, (2) TEKTRONIX 7834 STORAGE
                  OSCILLOSCOPE, CLIP-ON DC MILLIMETER ELECTRONIC LOAD ANALYZER,
                  (5) TEKTRONIX MODEL 2445 OSCILLOSCOPE, TEKTRONIX TM 504 TIMER
                  PROBE, (5) TEKTRONIX 7603 OSCILLOSCOPE, CHART RECORDER, LEADER
                  VIDEO GENERATOR LVG 1603, TEKTRONIX 2430A DIGITAL
                  OSCILLOSCOPE, HP 5411 DIGITIZING OSCILLOSCOPE, (3) FLUKE DUAL
                  DISPLAY MULTIMETERS, AUTO RAMPING MULTI METER, TEKTRONIX 468
                  OSCILLOSCOPE, (2) TEKTRONIX 576 CURVE TRACER, HP LCR METER
                  4262A, HIPOTRONICS HIPOT TESTER, MICROSCOPE

 216   14017      FLUKE AUTO RANGING COMBISCOPE MODEL PM 3394A 200 MHZ 200 MS/S      $  3,500.00    $  4,000.00    $  4,500.00

 217   14018      FLUKE AUTO RANGING COMBISCOPE MODEL PM 3394A 200 MHZ 200 MS/S      $  3,500.00    $  4,000.00    $  4,500.00

---------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                         $  36,000.00   $  46,000.00   $  56,500.00
---------------------------------------------------------------------------------------------------------------------------------

Page 33

GREENWICH INDUSTRIAL SERVICES, LLC
APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                                FLV            FMV            FMIPV
---------------------------------------------------------------------------------------------------------------------------------
LARGE SIGNAL GROUP (CONT'D)
---------------------------
---------------------------------------------------------------------------------------------------------------------------------
 218   14019      TEKTRONIX MODEL TDS 420 4 CHANNEL DIGITIZING OSCILLOSCOPE 150      $  2,000.00    $  2,500.00    $  3,000.00
                  MHZ 100 MS/S

 219   14020      TEKTRONIX MODEL TDS 460Z 4 CHANNEL DIGITIZING OSCILLOSCOPE 400     $  3,000.00    $  3,600.00    $  4,200.00
                  MHZ 100 MS/S

 220   14021      TEKTRONIX DIGITIZING OSCILLOSCOPE MODEL 11402 W/ CART PC MONITOR   $  4,000.00    $  4,750.00    $  5,500.00

---------------------------------------------------------------------------------------------------------------------------------
IF AND AUDIO GROUP
------------------
---------------------------------------------------------------------------------------------------------------------------------
 221              MISCELLANEOUS FURNITURE AND FIXTURES INCLUDING: FORMICA TABLES,    $  3,000.00    $  3,500.00    $  4,000.00
                  STORAGE CABINETS, OFFICE PARTITIONS, METAL DESKS, SWIVEL
                  CHAIRS, TEST BENCHES, BUTCHER BLOCK WORK TABLES, MIRRORS,
                  DRAFTING TABLE, MARKER BOARDS, PCB BOARD DRILL, (14) COPPER
                  CLAD WORK STATIONS

 222              MISCELLANEOUS OFFICE EQUIPMENT INCLUDING: HP LASERJET SERIES II    $  7,000.00    $  8,000.00    $  9,500.00
                  PRINTER, VCR, (1O) ZENITH 386 PC LASER DISC PLAYERS, GATEWAY
                  2000 PENTIUM 133 MHZ PC, (8) GATEWAY 2000 PENTIUM 100 MHZ PC,
                  GATEWAY 2000 PENTIUM 90 MHZ PC, INDUSTRIAL PC,
                  HP LASER JET  5P PRINTER, GATEWAY 2000 PENTIUM 200 MHZ PC

 223              MISC. TEST AND INSPECTION EQUIPMENT INCLUDING BUT NOT LIMITED      $ 55,000.00    $ 65,000.00    $ 85,000.00
                  TO: TEKTRONIX 2467 OSCILLOSCOPE PATTERN GENERATORS, SOLDER
                  GUNS, DISTORTION MEASUREMENT SETS, (4) TEKTRONIX 468 DIGITAL
                  STORAGE OSCILLOSCOPES, FIXTURES, DC POWER
                  SUPPLY, INSPECTION LAMPS, HP OSCILLOSCOPES, (7) TEKTRONIX 2445
                  150MHZ OSCILLOSCOPES, SWEEP GENERATOR, CABLES, FUNCTION
                  GENERATOR, AMP METERS, TEKTRONIX 2430 DIGITAL OSCILLOSCOPE
                  CONNECTORS, HP WIDE RANGE OSCILLATORS, DIGITAL
                  MULTI METERS, ELECTRONIC PARTS, VARIAC AUTO TRANSFORMER, AUDIO
                  ANALYZERS, TEK. TM 502A CURRENT PROBES, MULTI CHANNEL SOUND
                  MODULATOR, LAB OVENS, STEREO, SORENSEN POWER SUPPLIES, VOLT
                  METERS, TEKTRONIX RM 561A OSCILLOSCOPE, SIGNAL
                  (CONTINUED ON NEXT PAGE)

---------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                         $ 74,000.00    $ 87,350.00    $111,200.00
---------------------------------------------------------------------------------------------------------------------------------

Page 34

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL CORPORATION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

-------------------------------------------------------------------------------------------------------------------------------
 #   ID#                                 DESCRIPTION                                         FLV        FMV         FMIPV
-------------------------------------------------------------------------------------------------------------------------------
IF AND AUDIO GROUP (CONT'D)
---------------------------
-------------------------------------------------------------------------------------------------------------------------------
                    CONT'D FROM PREVIOUS PAGE GENERATOR, TEKTRONIX WAVEFORM MONITOR
                    1480R, TEKTRONIX NTSC TEST SIGNAL GENERATORS,
                    STEREO MODULATORS, QUANTUM 8710 IMAGER, TEKTRONIX 475 OSCILLOSCOPE,
                    TEKTRONIX 475 OSCILLOSCOPE, HP SIGNAL
                    GENERATORS, TEKTRONIX 2215 OSCILLOSCOPE TEKTRONIX NTSC VECTORSCOPE,
                    WAVE FORM SYNTHESIZER, B & L MICROSCOPE, BK
                    DC POWER SUPPLY NETWORK ANALYZER, JERROD FIELD STRENGTH METERS,
                    LEADER PATTERN GENERATOR LCG400NTSC, (3) LEADER
                    PATTERN GENERATOR 408NPS, TEKTRONIX SYNC GENERATOR, TEKTRONIX
                    2215OSCILLOSCOPE COLOR CHARACTER GENERATOR, PIN
                    GAUGES, (2) MINOLTA LCD COLOR ANALYZER, CA110 TEKTRONIX 7704A
                    OSCILLOSCOPE SYSTEM, (4) HP SPECTRUM ANALYZERS
                    8590A, TRACKING GENERATOR, CURVE TRACER, DIGITAL FREQUENCY COUNTER

  224   14022       TEKTRONIX AM 700 AUDIO MEASUREMENT SET                                   $3,500.00  $ 4,000.00  $ 4,500.00

  225   14023       FLUKE PM 3394A AUTORANGING COMBISCOPES 200MHZ                            $2,000.00  $ 2,500.00  $ 3,000.00

  226   14024       TEKTRONIX 3002 PRISM SERIES COMPUTER DIAGNOSTIC UNIT W/ MONITOR          $1,500.00  $ 1,900.00  $ 2,300.00
                    KEYBOARD


  227   14025       HP 300MHZ TUNER ANALYZER MODEL 8730A W/ TUNER TEST SET                   $2,000.00  $ 2,500.00  $ 3,000.00

-------------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                               $9,000.00  $10,900.00  $12,800.00
-------------------------------------------------------------------------------------------------------------------------------

Page 35

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL CORPORATION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
 #   ID #                                DESCRIPTION                                       FLV            FMV          FMIPV
----------------------------------------------------------------------------------------------------------------------------------
CONSUMER ENGINEERING
--------------------
----------------------------------------------------------------------------------------------------------------------------------
  228               PANAFAX ELECTRONIC GREASE BOARD, METAL TABLE W/ (6)  ARM               $15,000.00     $20,000.00  $ 30,000.00
                    CHAIRS, TAN METAL DESKS, SWIVEL ARM CHAIRS,  METAL CREDENZAS,
                    5-DRAWER VERTICAL FILE CABINETS, BOOKSHELVES, WOODEN DESK,
                    WOODEN WORK TABLES, HP LASERJET III PRINTERS, L-SHAPED MODULAR
                    COMPUTER WORK STATIONS, DRAFTING TABLES, DOT MATRIX PRINTERS,
                    SOUND ENCLOSURE, CARD FILES, METAL SHELVING, CONFERENCE TABLE,
                    CONFERENCE CHAIRS, QUARTET OVONICS, ELECTRONIC GREASE BOARD,
                    (2) GATEWAY SOLO PENTIUM LAPTOP PC W/ MONITOR, GATEWAY 2000
                    P5-100XL PC W/ MONITOR, GATEWAY P5-200 PC W/ MONITOR, (2)
                    GATEWAY P4D-66 PC W/ MONITOR, SILICON  GRAPHICS PC W/ MONITOR,
                    CAD SOFTWARE, IBM CLONE 200 MHZ 486 PC W/ MONITOR, (3) CALISTO
                    NETPOWER PC W/ HITACHI MONITOR, HEWLETT PACKARD LASERJET 4V
                    PRINTER, OPTIC PRO 4800P FLATBED SCANNER, GATEWAY P5-166 PC W/
                    MONITOR, GATEWAY P5-100 PC W/ MONITOR

  229   012107     DIGI-BOT II 3 D LASER DIGITIZING SYSTEM                                 $ 4,000.00    $ 5,000.00   $  6,000.00

  230   012108     PH HYDRAULICS MODEL AP-1, 1 TON HYDRAULIC PRESS, S/N 61127, W/          $ 7,000.00    $10,000.00   $ 15,000.00
                   MODULINE PLUS DIGITAL THERMOMETER, ALLEN BRADLEY CONTROLS

  231   012109     ZENITH CUSTOM BUILT WIRE YOKE WINDER/BONDER, HORIZONTAL                 $20,000.00    $40,000.00   $ 60,000.00

  232   012110     MIDWEST AUTOMATION SYSTEMS, CUSTOM BUILT WIRE YOKE                      $15,000.00    $30,000.00   $ 50,000.00
                   WINDER/BONDER S/N 1914, W/ LEPEL HIGH FREQUENCY INDUCTION UNIT,
                   MODEL T-25-1-MCS-BW S/N 9221-T

----------------------------------------------------------------------------------------------------------------------------------
                   PAGE TOTAL                                                              $61,000.00    $105,000.00  $161,000.00
----------------------------------------------------------------------------------------------------------------------------------

Page 36

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL CORPORATION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
 #   ID #                                DESCRIPTION                                         FLV           FMV            FMIPV
---------------------------------------------------------------------------------------------------------------------------------
CONSUMER ENGINEERING (CONT'D)
----------------------------
---------------------------------------------------------------------------------------------------------------------------------
  233   012111      AIR HYDRAULICS MODEL C-300 HYDRAULIC C-FRAME PRESS, S/N 3879-Z1      $  7,000.00    $ 10,000.00   $ 15,000.00
                    W/ MODLINE INFRARED RADIATION THERMOMETER

  234   012112      ZENITH MICROPROCESSOR TOROID MACHINE, HORIZONTAL S/N N/A             $  2,000.00    $  3,000.00   $  5,000.00

  235   012113      CUSTOM BUILT HORIZONTAL YOKE WINDER/BONDER, W/ MODLINE INFRARED      $  5,000.00    $ 10,000.00   $ 15,000.00
                    RADIATION THERMOMETER

  236   012114      HANNIFIN PNEUMATIC PRESS, MODEL M-2-BX, S/N T-12074-2 1 TON          $  1,000.00    $  1,500.00   $  2,500.00

  237   012115      NARAE ENGINEERING/LG ELECTRONICS MODEL SUPER VH2 SADDLE TYPE         $ 50,000.00    $ 60,000.00   $ 80,000.00
                    DEFLECTION YOKE COIL MACHINE S/N VHII-70101-442, W/ NITTOKU
                    CONTROLS, MODEL NSC 10/20 1997

  238   012116      ZENITH VERTICAL YOKE WINDER/BONDER, BOBBIN WINDERS W/ QUICK          $ 15,000.00    $ 20,000.00   $ 30,000.00
                    PANEL CONTROLS, 4 HEAD

  239   012117      BUEHLER ABRASIMET 2 LABORATORY CUT OFF SAW, MODEL 95C1800-260        $  3,000.00    $  4,000.00   $  6,000.00
                    S/N 453MSC1348 W/ CABINET

  240               MISCELLANEOUS  INCLUDING: (2) BLUE-M OVENS, BAUSCH & LOMB            $ 25,000.00    $ 30,000.00   $ 45,000.00
                    MICROSCOPE, COMTEN TENSILE TESTER, BENCH MODEL DRILL PRESS,
                    DELTA VERTICAL BAND SAW, PAINT MIXER, HYDRAULIC PALLET JACKS,
                    STORAGE CABINETS, WABASH 4-POST PRESS, WESCO HYDRAULIC LIFT,
                    METAL CARTS, PARTS BINS, MULTIMETERS, IMPEDANCE BRIDGES, POWER
                    SUPPLIES, VIDEO BRIDGES, TEKTRONIX OSCILLOSCOPES, HIPOTRONICS
                    HIPOT TESTER, DIGITAL CONVERTERS, WAVETEK SWEEP GENERATOR,
                    SOLDERING STATIONS, ELECTROSTATIC VOLT METERS, ELECTRIFIED
                    WORKBENCHES, SENCORE 2-METERS, KEITHLEY PROGRAMMABLE
                    ELECTROMETERS, WINDERS, SWEEP GENERATORS, GLASSMAN POWER
                    SUPPLIES, HIPOT TESTERS

  241   012118      BINKS VACUUM AUTOCLAVE W/ (2) WELCH VACUUM PUMPS                     $  2,500.00    $  3,500.00   $  5,000.00

---------------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                           $110,500.00    $142,000.00   $203,500.00
---------------------------------------------------------------------------------------------------------------------------------

Page 37

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL CORPORATION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

-----------------------------------------------------------------------------------------------------------------------------------
 #   ID #                                DESCRIPTION                                      FLV             FMV            FMIPV
-----------------------------------------------------------------------------------------------------------------------------------
CONSUMER ENGINEERING (CONT'D)
-----------------------------
-----------------------------------------------------------------------------------------------------------------------------------
  242   012119      SLAUTERBACK LITTLE SQUIRT GLUE DISPENSING MACHINE, MODEL LS10G,       $ 1,500.00      $ 2,000.00     $ 2,500.00
                    S/N 7-5801

-----------------------------------------------------------------------------------------------------------------------------------
3rd FLOOR #307 SMALL SIGNAL PROCESSING
--------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
  243               MISCELLANEOUS OFFICE SUPPORT EQUIPMENT INCLUDING BUT NOT              $ 9,000.00      $11,000.00     $13,000.00
                    LIMITED TO: FORMICA TOP TABLES, METAL BOOKCASES, SIDE CHAIRS,
                    METAL LOCKERS, METAL DESKS, SWIVEL CHAIRS, ELECTRIFIED TEST
                    BENCHES, INSPECTION LAMPS, SOLDERING
                    GUNS, VERTICAL/LATERAL FILING CABINETS, LAPTOP COMPUTER,
                    TOSHIBA LAPTOP COMPUTER, HP LASERJET 4 PLUS PRINTER, APPROX.
                    (10 ) GATEWAY P-2000 COMPUTERS, (4) 486 COMPUTERS, (3) LUCKY
                    GOLDSTAR 486 COMPUTERS

  244               MISCELLANEOUS INSPECTION/TESTING EQUIPMENT INCLUDING: TECTRONIX       $ 5,000.00      $ 8,000.00     $10,000.00
                    2213A 60 MHZ OSCILLOSCOPE, (3) TECTRONIX 2465 300 MHZ
                    OSCILLOSCOPE, TECTRONIX 2445 150 MHZ OSCILLOSCOPE, TECTRONIX
                    2467 BHD 400 MHZ  OSCILLOSCOPE, HP E 3612A POWER
                    SUPPLY, HP4193A VECT, WAVETEK 5 MHZ-PHASELOCK GENERATOR,
                    QUANTUM MODEL 8700 CRT CONTROLLER, QUANTUM MODEL 8701 IMAGER,
                    BK PRECISION DC POWER SUPPLIES, 7613 OSCILLOSCOPE, 7603
                    OSCILLOSCOPE, MODEL 903 VIDEO GENERATOR, SOLDERING GUNS,
                    MULTIMETERS

  245   11176       GENERAL INSTRUMENTS CSU COMMANDER 6                                   $   750.00      $ 1,000.00     $ 1,250.00

  246   11177       HP 8647A 250 KHZ-1000 MHZ SIGNAL GENERATOR                            $ 5,000.00      $ 6,000.00     $ 7,000.00

  247   11178       HP 8590L SPECTRUM ANALYZER 1MHZ-1.8GHZ                                $ 4,000.00      $ 5,000.00     $ 6,000.00

  248   11179       HP 16500C LOGIC ANALYSIS SYSTEM                                       $10,000.00      $12,000.00     $14,000.00

  249   11180       EST EMBEDDED SUPPORT TOOLS, SCALEABLE EMULATION REAL TIME             $ 1,000.00      $ 1,500.00     $ 2,000.00
                    EMBEDDED DEVELOPMENT

  250   11181       TEKTRONIX TDS 460A FOUR CHANNEL DIGITAL OSCILLOSCOPE                  $ 3,000.00      $ 3,500.00     $ 4,000.00

-----------------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                            $39,250.00      $50,000.00     $59,750.00
-----------------------------------------------------------------------------------------------------------------------------------

Page 38

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL CORPORATION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
#    ID#                            DESCRIPTION                                      FLV              FMV           FMIPV
---------------------------------------------------------------------------------------------------------------------------------
3rd FLOOR #307 SMALL SIGNAL PROCESSING
---------------------------------------------------------------------------------------------------------------------------------
  251     11182   CUSTOM TEST STATION INCLUDING: TEKTRONIX TG-2000 SIGNAL            $ 4,000.00       $ 5,000.00    $ 6,000.00
                  GENERATION PLATFORM, TECTRONICS
                  1730 WAVE FORM MONITOR, CATEL TELEVISION
                  MODULATORS, GI COMMANDER 6 UPCONVERTER

  252     11183   FLUKE PM 3394A AUTO RANGING COMBISCOPE                             $ 1,000.00       $ 1,500.00    $ 2,000.00

  253     11184   LEADER PATTERN GENERATOR 408                                       $ 1,000.00       $ 1,250.00    $ 1,500.00

  254     11185   TEKTRONIX TLA 711 LOGIC ANALYZER W/ MONITOR,                       $20,000.00       $25,000.00    $30,000.00
                  KEYBOARD, PORTABLE CART

  255     11186   SONY TRINITRON MULTISCAN 900 MONITOR                               $ 1,000.00       $ 1,250.00    $ 2,000.00

  256     11187   SONY TRINITRON MULTISCAN 900 MONITOR PROP# 87775                   $ 1,000.00       $ 1,250.00    $ 2,000.00

  257     11188   COMPAQ PROLIANT 2500 COMPUTER W/ TEKTRONIX MONITOR                 $ 1,000.00       $ 1,250.00    $ 1,500.00

---------------------------------------------------------------------------------------------------------------------------------
2ND FLOOR
---------
ENGINEERING SERVICES #216
-------------------------
---------------------------------------------------------------------------------------------------------------------------------
  258             EXECUTIVE OFFICE SET INCLUDING:  WOODEN DESK, WOODEN CREDENZA,     $ 4,000.00       $ 6,000.00    $ 8,000.00
                  BOOKCASE, CONFERENCE TABLE, SIDE CHAIRS, APPROXIMATELY (5)
                  PERSONAL COMPUTERS, MONITORS, PRINTERS, METAL DESKS, SWIVEL
                  CHAIRS, LATERAL/VERTICAL FILING CABINETS

---------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                         $33,000.00       $42,500.00    $53,000.00
---------------------------------------------------------------------------------------------------------------------------------

PAGE 39

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                                FLV            FMV            FMIPV
----------------------------------------------------------------------------------------------------------------------------------
ENGINEERING RECORDS 214, 210, 208
---------------------------------
----------------------------------------------------------------------------------------------------------------------------------
259               MISCELLANEOUS OFFICE EQUIPMENT INCLUDING:  MICROFICHE MACHINE,     $ 15,000.00    $ 25,000.00    $ 30,000.00
                  ARCHITECTS DRAFTING TABLE, METRO CARTS, METAL DESKS, SWIVEL
                  CHAIRS, 2 DOOR LOCKERS, COAT RACKS, SIDE CHAIRS, CANOFILE 100
                  DOCUMENT RECORDER, METRO CARTS, PERSONAL COMPUTERS, HP DESKJET
                  1200C/PS COLOR PRINTER, HP LASERJET 4P, FAX MACHINE,
                  STRATOMATIC CARD FILER, PAPER SHREDDER, BLUE PRINT CABINETS,
                  CARD SCANNER, CARD PUNCHER, ARRILITE 650 FLOOD

                  LIGHTS,REFLECTASOL HEX KIT 32", ILLUMA SYSTEM QUARTZ LIGHT
                  CONTROL, CAMERA STANDS, POLAROID CAMERA, MACBETH STANDARD
                  VIEWER, MISCELLANEOUS CAMERA EQUIPMENT

260    11129      MINOLTA MODEL RP6092, S/N 360390, MICROFICHE PRINTER               $    500.00    $    600.00    $    800.00

261    11130      CAMBO CAMERA W/MAJESTIC TELESCOPING STAND                          $    100.00    $    200.00    $    300.00

262    11130      OCE 7600 DRAFTING FILM PRINTER PLAIN/TRACING/FILM OPTIONS          $  1,500.00    $  2,000.00    $  2,500.00

263    11131      CONTEX FSS 8300 FULL SCALE SCANNER, S/N 00250                      $  1,000.00    $  1,500.00    $  2,000.00

----------------------------------------------------------------------------------------------------------------------------------
ROOM # 202
----------
----------------------------------------------------------------------------------------------------------------------------------
264    11139      CENTAUR HORIZONTAL CAMERA ACTI PRODUCTS, MODEL 3250H, S/N 2613,    $  1,000.00    $  5,000.00    $ 10,000.00
                  PROP# 49303

265    11133      POWERGRABBER 125P DEVELOPER W/CONTROL PANEL 4' BED CAPACITY,       $    500.00    $    600.00    $    800.00
                  S/N N/A

----------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                         $ 19,600.00    $ 34,900.00    $ 46,400.00
----------------------------------------------------------------------------------------------------------------------------------

Page 40

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                                FLV            FMV            FMIPV
----------------------------------------------------------------------------------------------------------------------------------
ROOM 202 (CONT'D)
-----------------
----------------------------------------------------------------------------------------------------------------------------------
266               MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING:  LIGHT TABLE, FAN,      $  2,000.00    $  3,000.00    $  4,000.00
                  DEHUMIDIFIER, DAHLE ROLL SCHMITT FILM TABLE, FILM CUTTERS,
                  REFRIGERATOR, FILING CABINETS, METAL LOCKERS, WORK BENCHES,
                  OMEGA VARIABLE CONDENSER/LAMPHOUSE TYPE D, HFMINI LAB MASTER,
                  PORTABLE MICRO DEVELOPER CART, BESELER DICHRO 23D GA CAMERA

267    11134      MICROMASTER 35MM CAMERA, 3'X4' BED CAPACITY                        $    500.00    $    700.00    $  1,000.00
----------------------------------------------------------------------------------------------------------------------------------
NETWORK SYSTEMS #280
--------------------
----------------------------------------------------------------------------------------------------------------------------------

268               MISC. TEST/EQUIP INCLUDING:  FLUKE 6060B SIGNAL GENERATORS, HP     $ 35,000.00    $ 45,000.00    $ 60,000.00
                  SPECTRUM ANALYZER 8554B, 468 DIGITAL OSCILLOSCOPE, TEKTRONIX
                  OSCILLOSCOPE, 2445 TENNEY ELECTRIC OVEN, HP 8558B SPECTRUM
                  ANALYZER, LEADER LB0-12C OSCILLOSCOPE NODE REMODULATORS,
                  NODE DATA CONTROLLERS, POWER SUPPLIES, WAVETEK FUNCTI0N
                  GENERATOR, SOLDERING STATIONS, FLUKE 8050A DIGITAL
                  MULTIMETERS, INSPECTION LAMPS, 475 OSCILLOSCOPE, HP8558B
                  SPECTRUM ANALYZER, FREQUENCY TRANSLATORS, CISCO 4000 ROUTER,
                  MISCELLANEOUS OFFICE EQUIPMENT INCLUDING:  FORMICA TOP TABLES,
                  REFRIGERATOR, METAL DESKS, VIDMAR CABINETS, TOSHIBA LAPTOP
                  COMPUTERS, APPROXIMATELY 20 PERSONAL COMPUTERS, MONITORS,
                  PRINTERS, ELECTRIFIED TEST BENCHES, SWIVEL CHAIRS,
                  APPROXIMATELY 500 LINEAR SQUARE FEET OF 7' CLOTH OFFICE
                  PARTITIONS

----------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                         $ 37,500.00    $ 48,700.00    $ 65,000.00
----------------------------------------------------------------------------------------------------------------------------------

Page 41

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                                FLV            FMV            FMIPV
----------------------------------------------------------------------------------------------------------------------------------
NETWORK SYSTEMS #288
--------------------
----------------------------------------------------------------------------------------------------------------------------------
269               MISC. OFFICE EQUIP. INCLUD:  32 INDIVIDUAL MODULAR COMPUTER        $  8,000.00    $ 16,000.00    $ 20,000.00
                  WORKSTATIONS W/220 LINEAR FT. OF 5' CLOTH OFFICE PARTITIONS,
                  SWIVEL CHAIRS, APPROX. 8 PERSONAL COMPUTERS, MONITORS,
                  PRINTERS, HP LASERJET 4 PRINTER, RICOH FAX 85, HP LASERJET 4L,
                  HP OFFICE JET 350 FAX/PRINTER, EYECOM RP9000 MICROFICHE READER,
                  EXECUTIVE WOODEN OFFICE FURNITURE SETS INCLUDING DESKS, MATCHING
                  CREDENZA, SIDE CHAIRS, MARKER BOARD, CONFERENCE BOARD TABLE,
                  LATERAL/VERTICAL FILING CABINETS

----------------------------------------------------------------------------------------------------------------------------------
NETWORK SYSTEMS #291
--------------------
----------------------------------------------------------------------------------------------------------------------------------
270               MISC. OFFICE EQUIP. INCLUD:  LATERAL/VERTICAL FILING CABINETS,     $ 10,000.00    $ 17,000.00    $ 22,000.00
                  METAL DESKS, SWIVEL CHAIRS, HP LASERJET 4 PRINTER, (2) HP
                  LASERJET 4 PLUS COMPUTER, APPROXIMATELY (4) GATEWAY 2000
                  AND (2) 486 COMPUTERS, MONITORS, GATEWAY 2000 SOLO LAPTOP,
                  EXECUTIVE MAPLE FURNITURE SET INCLUDING DESK, ROUND CONFERENCE
                  TABLE, 4 MATCHING SIDE CHAIRS, LATERAL BOOKCASE, CREDENZA,
                  COMPUTER WORKSTATION, 12' CONFERENCEROOM TABLE W/APPROXIMATELY 14
                  MATCHING SIDE CHAIRS, MARKERBOARD, REFRIGERATOR, COFFEE MAKER,
                  WOODEN FURNITURE SETS INCLUDING DESKS, CREDENZAS, BOOKCASES

----------------------------------------------------------------------------------------------------------------------------------
RELIABILITY ENGINEERING #263
----------------------------
----------------------------------------------------------------------------------------------------------------------------------
271               MISCELLANEOUS OFFICE EQUIPMENT INCLUDING:  METAL DESKS, SWIVEL     $  8,000.00    $ 12,000.00    $ 18,000.00
                  CHAIRS, VERTICAL/LATERAL FILING CABINETS, APPROXIMATELY 11
                  PERSONAL COMPUTERS, MONITORS, WOODEN DESK W/MATCHING CREDENZA,
                  HP LASERJET 5P PRINTER, MISC. ZENITH CABLE BOXES, METROCARTS

272    11135      APPROXIMATELY (10) CUSTOM DESIGNED ELECTRIFIED RELIABILITY         $  5,000.00    $ 15,000.00    $ 20,000.00
                  TESTING RACKS, COMPLETE W/VARIAC POWER CONTROLS

----------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                         $ 31,000.00    $ 60,000.00    $ 80,000.00
----------------------------------------------------------------------------------------------------------------------------------

Page 42

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                                FLV            FMV            FMIPV
----------------------------------------------------------------------------------------------------------------------------------
RELIABILITY ENGINEERING #263
----------------------------
----------------------------------------------------------------------------------------------------------------------------------
273               MISCELLANEOUS TEST EQUIPMENT INCLUDING:  TELEVISION MODULATORS,    $ 10,000.00    $ 15,000.00    $ 25,000.00
                  TENNEY ELECTRIC OVEN, BLUE M OVENS, TEKTRONIX 7854
                  OSCILLOSCOPE, (3) BLUE-M ENVIRONMENTAL TEST CHAMBERS, SOLDERING
                  STATIONS, MULTIMETERS, LEADER PATTERN GENERATOR LCG400, HP
                  SYNTHESIZER, FUNCTION GENERATOR, POWER SUPPLIES, HIPOT TESTER,
                  VOLTAGE REGULATOR, THERMAL VIDEO SYSTEM, LEADER LCG 399A PATTERN
                  GENERATOR, HIGH VOLTAGE POWER SUPPLY

274    11136      TEST STATION INCLUDING:  LEADER LCG 450 NTSC PATTERN GENERATOR,    $  1,500.00    $  2,500.00    $  4,000.00
                  LEADER LVS 5850B NTSC VECTORSCOPE, LEADER LBO-5860L WAVE FORM
                  MONITOR, Z-TAC VIDEO ENCODER, AUDIO ENCODER 100, TELEVISION
                  DEMODULATOR

275    11137      BLUE M HUMIDITY TEST CHAMBER W/BLUE M CHART RECORDER, 48" WIDE     $  2,000.00    $  2,750.00    $  4,000.00
                  X 50" HEIGHT 48" DEEP

276    11138      HIGH TEMPERATURE/LONG FORM LIFETEST CHAMBER W/HONEYWELL CHART      $    500.00    $  1,000.00    $  2,500.00
                  RECORDER

277    11140      TENNEY 14 ENVIRONMENTAL TEST CHAMBER (HIGH/LOW TEMP. TESTING)      $  2,000.00    $  2,750.00    $  4,000.00
                  W/HONEYWELL CHART

278    11141      TENNEY 14 ENVIRONMENTAL TEST CHAMBER (HIGH/LOW TEMP. TESTING)      $  2,000.00    $  2,750.00    $  4,000.00
                  W/HONEYWELL CHART

279    11142      BLUE M HUMIDITY TEST CHAMBER (STANDARD CYCLED 240 HOURS) W/BLUE    $  2,000.00    $  2,750.00    $  4,000.00
                  M CHART RECORDER

280    11143      BLUE M HUMIDITY TEST CHAMBER (STANDARD CYCLED 240 HOURS) W/BLUE    $  2,000.00    $  2,750.00    $  4,000.00
                  M CHART RECORDER

----------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                         $ 22,000.00    $ 32,250.00    $ 51,500.00
----------------------------------------------------------------------------------------------------------------------------------

Page 43

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                                FLV            FMV            FMIPV
----------------------------------------------------------------------------------------------------------------------------------
RELIABILITY TESTING
-------------------
----------------------------------------------------------------------------------------------------------------------------------
281    11144      BLUE M HUMIDITY TEST CHAMBER (STANDARD CYCLED 240 HOURS) W/BLUE    $  2,000.00    $  2,750.00    $  4,000.00
                  M CHART RECORDER

282    11145      ENVIRONMENTAL TEST CHAMBER W/BRISTO CHART RECORDER                 $    750.00    $  1,000.00    $  1,250.00

283    11146      WEBER ENVIRONMENTAL TEST CHAMBER (ALTITUDE TEST) W/HONEYWELL       $  1,000.00    $  1,500.00    $  3,000.00
                  AND BRISTOL CHART RECORDERS

284    11147      BLUE M OVEN MODEL POM-563A, S/N JA3072                             $    700.00    $    900.00    $  1,250.00

285    11148      TENNEY JR. ENVIRONMENTAL TEST CHAMBER, S/N N/A                     $    600.00    $    800.00    $  1,000.00

286    11149      TENNEY JR. ENVIRONMENTAL TEST CHAMBER, S/N N/A                     $    600.00    $    800.00    $  1,000.00

287    11150      BLUE M OVEN MODEL POM-563A, S/N N/A                                $    700.00    $    900.00    $  1,250.00

288    11151      BLUE M ELECTRIC OVEN                                               $    400.00    $    600.00    $    800.00

289    11152      BLUE M ELECTRIC OVEN                                               $    400.00    $    600.00    $    800.00

290    11153      TEKTRONIX 7854 OSCILLOSCOPE W/(2) AM 503 CURRENT PROBE             $  2,000.00    $  2,500.00    $  3,000.00
                  AMPLIFIERS

291    11154      BLUE M ELECTRIC OVEN, MODEL POM 256B-1, S/N N/A, TEMP. RANGE,      $  1,500.00    $  2,000.00    $  3,000.00
                  343 DEGREES C/650 DEGREES F, 208V, 1PH, 60HZ

292    11155      BLUE M ELECTRIC OVEN, MODEL POM 256B-1, S/N P14-3942, TEMP.        $  1,500.00    $  2,000.00    $  3,000.00
                  RANGE, 343 DEGREES C/650 DEGREES F, 208V, 1PH, 60HZ

293    11156      BLUE M ELECTRIC OVEN, MODEL POM 256B-1, S/N N/A, TEMP. RANGE,      $  1,500.00    $  2,000.00    $  3,000.00
                  343 DEGREES C/650 DEGREES F, 208V, 1PH, 60HZ
----------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                         $ 13,650.00    $ 18,350.00    $ 26,350.00
----------------------------------------------------------------------------------------------------------------------------------

Page 44

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

-----------------------------------------------------------------------------------------------------------------------------------
   #         ID #                            DESCRIPTION                                    FLV            FMV           FMIPV
-----------------------------------------------------------------------------------------------------------------------------------
RELIABILITY TESTING (cont'd)
-----------------------------------------------------------------------------------------------------------------------------------
  294       11157   BLUE M ELECTRIC OVEN, MODEL POM 256B-1, S/N N/A, TEMP. RANGE,          $1,500.00      $2,000.00     $3,000.00
                    343 DEGREES C/650 DEGREES F, 208V, 1PH, 60HZ, PROP# 49614

-----------------------------------------------------------------------------------------------------------------------------------
AGE LIFE SIDE
-------------
-----------------------------------------------------------------------------------------------------------------------------------
  295               MISCELLANEOUS OFFICE TEST EQUIPMENT INCLUDING:  ELECTRIFIED            $3,000.00      $5,000.00     $7,000.00
                    TEST BENCHES, SWIVEL CHAIRS, METAL BOOKCASES, (3) GATEWAY 2000
                    COMPUTERS, (2) IBM 486 COMPUTERS,  CABLE BOXES, HP LASERJET 4
                    PRINTERS, CALIFORNIA MICROWAVE SDM-202 MODULATOR DOLCH MEGA PAL

  296               MISCELLANEOUS COMPUTER EQUIPMENT INCLUDING BUT NOT LIMITED TO:         $3,000.00      $4,000.00     $5,000.00
                    APPROXIMATELY (15) 486 PERSONAL COMPUTERS, MONITORS, ZTACK DATA
                    MONITOR, MISCELLANEOUS CABLE BOXES, VCRS, TELEVISIONS, METAL
                    DESKS, SWIVEL CHAIRS, CISCO 4000 ROUTER, UPS AMERICAN OSCILLOSCOPE

  297       11158   CUSTOM DESIGNED CONTROL PANEL INCLUDING ZENITH 2-VIEW DATA             $1,000.00      $4,000.00     $8,000.00
                    RECEIVERS, 2-TAC VIDEO ENCODERS, ZENITH PROCESS ENCODERS,
                    LEADER 2BO 5860L WAVE FORM MONITOR, 155 TV AGILE MODULATOR
                    SERIES III RS-232 LINE SHARER-4

  298       11159   HP NETSERVER LH PLUS                                                   $1,500.00      $2,000.00     $2,500.00


------------------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                             $10,000.00     $17,000.00    $25,500.00
------------------------------------------------------------------------------------------------------------------------------------

Page 45

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

-----------------------------------------------------------------------------------------------------------------------------------
   #         ID #                            DESCRIPTION                                   FLV            FMV           FMIPV
-----------------------------------------------------------------------------------------------------------------------------------
NETWORK SYSTEMS/PROTOTYPE ROOM # 253
------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
  299               MISC. OFFICE TEST EQUIP. INCLUD. BUT NOT LIMITED TO:  METAL            $8,000.00      $10,000.00    $12,000.00
                    DESKS, SWIVEL CHAIRS, METAL LOCKERS, FORMICA TOP TABLES, FILING
                    CABINETS, APPROX. (3) PERSONAL COMPUTERS INCLUDING GATEWAY 2000
                    MONITORS, METAL BOOKCASES,
                    ELECTRIFIED TEST BENCH, HAND TOOLS, CRIMPING TOOLS, WIRE REELS,
                    EPSON FX-1170 PRINTER, TEST EQUIPMENT INCLUDING:  TEKTRONIX
                    2445/50MHZ OSCILLOSCOPE, 2215 60 MHZ OSCILLOSCOPE, HYPOT
                    TESTER, LEADER LCG-400 NTSC PATTERN GENERATOR, VISTA-VIEWER
                    MICROFORM READER, SOLDERING STATIONS, INSPECTION LAMPS, MISC.
                    CIRCUIT BOARD EQUIPMENT AND SUPPLIES

-----------------------------------------------------------------------------------------------------------------------------------
NETWORK SYSTEM
--------------
-----------------------------------------------------------------------------------------------------------------------------------
  300               MISCELLANEOUS OFFICE/TEST EQUIPMENT INCLUDING BUT NOT LIMITED          $45,000.00     $55,000.00    $80,000.00
                    TO:  ARCHITECTS DRAFTING TABLES, METAL DESKS, SWIVEL CHAIRS,
                    ELECTRIFIED TEST BENCHES, METRO CARTS, APPROX.15 486 PERSONAL
                    COMPUTERS W/20 GATEWAY P2000 MONITORS, CURVE TRACERS,TENNEY
                    ENVIRONMENTAL TEST CHAMBERS, TEKTRONIX 2445 OSCILLOSCOPE, 1485R
                    WAVEFORM MONITOR, 1450-1 TELEVISION DEMODULATOR, METAL
                    BOOKCASES, 2 DOOR LOCKERS, HP 8554B SPECTRUM ANALYZER, MATRIX
                    ELECTRONICS SIGNAL STRENGTH AND DISTORTION ANALYZER, HP  1200A
                    OSCILLOSCOPE, MULTIPLE FREQUENCY SIGNAL
                    GENERATORS, 475 OSCILLOSCOPE, LEADER LB0-5860A WAVEFORM
                    MONITOR, 762BA OSCILLOSCOPE, HP 85005A NETWORK ANALYZER, HP
                    4193A VECTOR IMPEDANCE METERMISCELLANEOUS METAL WORKING
                    EQUIPMENT INCLUDING BUT NOT LIMITED TO:  BENCH VISES, DOUBLE
                    END GRINDERS, METAL BRAKERS, TURRET PUNCH PRESS, DIACRO
                    SQUARING SHEAR, DRILL PRESS

  301       11160   HP LASERJET 5SI PRINTER                                                $1,500.00      $2,000.00     $2,500.00
----------------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                            $54,500.00     $67,000.00    $94,500.00
-----------------------------------------------------------------------------------------------------------------------------------

Page 46

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

-----------------------------------------------------------------------------------------------------------------------------------
   #         ID #                            DESCRIPTION                             FLV               FMV               FMIPV
-----------------------------------------------------------------------------------------------------------------------------------
NETWORK SYSTEM (CONT'D)
-----------------------
-----------------------------------------------------------------------------------------------------------------------------------
  302      012055   MITUTOYO MODEL PH-350 OPTICAL COMPARATOR, 14", S/N 9310          $4,000.00         $4,500.00          $5,250.00
                    W/MITUTOYO DRO

  303      012056   HEWLETT PACKARD 439A, 100 MHZ SPECTRUM ANALYZER, W/85046B S      $4,500.00         $5,500.00          $6,500.00
                    PARAMETER TEST SET

  304      012057   TEKTRONIX MODEL VM700A VIDEO MEASUREMENT SYSTEM                  $2,500.00         $3,500.00          $4,500.00

  305      012058   (2) HEWLETT PACKARD MODE 8647A, 250 MHZ SIGNAL                   $6,000.00         $8,000.00         $10,000.00
           012059   GENERATORS

  306      012060   HEWLETT PACKARD 4396A, 100 KHZ NETWORK/SPECTRUM ANALYZER         $4,500.00         $5,500.00          $6,500.00
                    W/85046B, S-PARAMETER TEST SET

  307      012061   HEWLETT PACKARD 70004A DISPLAY/SPECTRUM ANALYZER                 $4,000.00         $5,000.00          $6,000.00

  308      012062   HEWLETT PACKARD 70300A TRACKING GENERATOR W/VECTOR VOLT METER    $2,500.00         $3,500.00          $4,500.00

  309      012063   MINOLTA MODEL RP6092                                             $2,000.00         $3,000.00          $4,000.00

  310      012064   CALCOMP DRAWING MASTER PROFESSIONAL SERIES PLOTTER               $2,500.00         $3,000.00          $4,000.00

  311      012065   HEWLETT PACKARD MODEL DRAFT MASTER I                             $1,200.00         $1,500.00          $2,000.00

  312      012066   LECROY MODEL LC534AM, 1GHZ OSCILLOSCOPE                          $4,500.00         $5,500.00          $6,500.00

  313      012067   LECROY MODEL 9384L, 1GHZ OSCILLOSCOPE                            $6,500.00         $7,500.00          $8,500.00

  314      012068   TEKTRONIX, GIGABERT, TM700 FREQUENCY                             $1,000.00         $1,350.00          $1,500.00

  315      012069   HEWLETT PACKARD 8590B SPECTRUM ANALYZER                          $1,500.00         $2,000.00          $3,000.00

------------------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                      $47,200.00        $59,350.00         $72,750.00
------------------------------------------------------------------------------------------------------------------------------------

Page 47

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

-----------------------------------------------------------------------------------------------------------------------------------
   #       ID#                                   DESCRIPTION                             FLV              FMV            FMIPV
-----------------------------------------------------------------------------------------------------------------------------------
NETWOTK SYSTEM (CONT'D)
-----------------------
-----------------------------------------------------------------------------------------------------------------------------------
  316      012070   TEKTRONIX DVT 200 DIGITAL VIDEO TRANSMITTER, S/N 848609/024          $1,500.00        $2,000.00      $3,000.00

  317      012071   HEWLETT PACKARD ESG-D3000A DIGITAL SIGNAL GENERATOR, 300 MHZ         $3,000.00        $4,000.00      $5,000.00

  318      012072   TEKTRONIX MODEL TDS754C COLOR FOUR CHANNEL DIGITIZING                $5,000.00        $6,000.00      $7,000.00
                    OSCILLOSCOPE, 500 MHZ

  319      012073   TEKTRONIX GIGABERT, TM 700 ANALYZER                                  $1,000.00        $1,350.00      $1,600.00

  320      012074   SONY TEKTRONIX MODEL AWG2021 ARBITRARY WAVEFORM GENERATOR            $1,500.00        $2,000.00      $2,500.00

  321      021075   TEKTRONIX MODEL TDS5400 FOUR CHANNEL DIGITIZING OSCILLOSCOPE,        $3,750.00        $4,500.00      $5,250.00
                    500 MHZ

  322      012076   LEADER MODEL LCG-400 NTSC PATTERN GENERATOR                          $1,000.00        $1,250.00      $1,500.00

  323      012077   TEKTRONIX MODEL TDS540C FOUR CHANNEL DIGITIZING OSCILLOSCOPE,        $3,750.00        $4,500.00      $5,250.00
                    500 MHZ

  324      012078   HEWLETT PACKARD MODEL 53310A MODULATION DOMAIN ANALYZER              $3,750.00        $4,500.00      $5,250.00

  325      012079   HEWLETT PACKARD MODEL 9559A SPECTRUM                                 $1,250.00        $1,500.00       $2,000.00

  326      012080   TEKTRONIX MODEL 2440, 500 MS, DIGITIZING OSCILLOSCOPE, S/N           $1,500.00        $2,000.00       $2,500.00
                    B010765

  327      012081   HEWLETT PACKARD MODEL 4396A, 1000 KHZ, NETWORK SPECTRUM              $4,000.00        $5,000.00       $6,000.00
                    ANALYZER, W/MODEL 85046B, S-PARAMETER TEST SET

  328      012082   HEWLETT PACKARD MODEL 8648B, 100 KHZ SIGNAL GENERATOR                $2,000.00        $3,000.00       $4,000.00

-----------------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                          $33,000.00       $41,600.00      $50,850.00
-----------------------------------------------------------------------------------------------------------------------------------

Page 48

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

-----------------------------------------------------------------------------------------------------------------------------------
   #       ID #                            DESCRIPTION                                 FLV               FMV               FMIPV
-----------------------------------------------------------------------------------------------------------------------------------
NETWORK SYSTEM (CONT'D)
-----------------------
-----------------------------------------------------------------------------------------------------------------------------------
  329      012083   TEKTRONIX MODEL VM700A VIDEO MEASUREMENT SYSTEM                    $2,500.00         $3,500.00        $4,500.00


  330      012084   HEWLETT PACKARD MODEL 8590B SPECTRUM                               $2,000.00         $3,000.00        $4,000.00

-----------------------------------------------------------------------------------------------------------------------------------
DIGITAL MEDIA GROUP
-----------------------------------------------------------------------------------------------------------------------------------
  331               MISCELLANEOUS OFFICE EQUIPMENT INCLUDING BUT NOT LIMITED TO:      $12,000.00        $14,000.00       $16,000.00
                    METAL DESKS, APPROXIMATELY 360 LINEAR SQ. FT.  OF METAL 7'
                    OFFICE PARTITIONS, DIVICOM IND. COMPUTERS, COLOR MONITORS,
                    SWIVEL CHAIRS, (3) GATEWAY 200 SOLO LAPTOP,LATERAL/VERTICAL
                    FILING CABINETS, HIGH BACK SWIVEL CHAIRS, MISCELLANEOUS TEST
                    EQUIPMENT INCLUDING: LCG-396 PATTERN GENERATOR, ELECTRIFIED
                    TEST RACK, TEKTRONIX 7445 OSCILLOSCOPE, TEKTRONIX TV1350
                    TELEVISION DEMODULATOR, 465B OSCILLOSCOPE, HP 34401A MULTIMETER,
                    STEREO MICROSCOPE, HP 16500B LOGIC ANALYSIS SYSTEM, HP POWER
                    SUPPLIES, HP LOGIC ANALYSIS SYSTEM 16500C, EXEC. OFFICE SET
                    INCLUDING WOODEN DESK, MATCHING CREDENZA, COMPUTER WORKSTATION,
                    SIDE CHAIRS,APPROXIMATELY (15) GATEWAY P-2000 COMPUTERS, COLOR
                    MONITORS, (2) 486 COMPUTERS, (2) SUN SPARC STATION COMPUTERS

  332       11162   HP LASERJET 5SIMX PRINTER                                          $1,500.00         $2,000.00        $2,500.00

  333       11163   TEKTRONIX VM700T VIDEO MEASUREMENT SET                             $1,500.00         $2,000.00        $2,500.00

  334       11164   HP 89440A VECTOR SIGNAL ANALYZER, DC-1800MHZ W/HP 8648C SIGNAL     $4,000.00         $6,000.00        $7,000.00
                    GENERATOR

  335       11165   INFO-MARK ID SYSTEM, LABELING SYSTEM                               $1,000.00         $2,000.00        $2,500.00

  336       11166   HP 4396B NETWORK/SPECTRUM IMPEDANCE ANALYZER                       $2,500.00         $3,000.00        $3,500.00

-----------------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                        $27,000.00        $35,500.00       $42,500.00
-----------------------------------------------------------------------------------------------------------------------------------

Page 49

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------------
   #      ID #                              DESCRIPTION                            FLV                 FMV              FMIPV
----------------------------------------------------------------------------------------------------------------------------------
FIELD SERVICE ROOM # 236
------------------------
----------------------------------------------------------------------------------------------------------------------------------
  337                 MISCELLANEOUS OFFICE EQUIPMENT INCLUDING BUT NOT LIMITED TO: $ 7,000.00          $10,000.00       $12,000.00
                      METAL DESKS, SWIVEL CHAIRS, FILING CABINETS, METAL SHELVING,
                      APPROXIMATELY 200 LINEAR SQ. FT. OF 7' AND 5' CLOTH OFFICE
                      PARTITIONS, TYPEWRITERS, HP LASERJET 2 SERIES PRINTER,
                      PANASONIC FAX MACHINE, COMPUTER WORKSTATIONS,  APPROXIMATELY
                      (6) GATEWAY P-2000 COMPUTERS, (7) 486 PERSONAL COMPUTERS,
                      MISCELLANEOUS TEST EQUIPMENT INCLUDING 1480R WAVEFORM MONITOR,
                      LEADER LCG400 NTSC PATTERN GENERATOR, TEKTRONIX
                      2445 DIGITAL OSCILLOSCOPE LEADER LBO-522 OSCILLOSCOPE,
                      SOLDERING STATIONS, 1410 SYNC GENERATOR, LEADER LBO 514A DUAL
                      TRACE OSCILLOSCOPE HP SPECTRUM ANALYZER 8590A

----------------------------------------------------------------------------------------------------------------------------------
CABLE SOFTWARE ENGINEERING #230
-------------------------------
----------------------------------------------------------------------------------------------------------------------------------
  338                 MISCELLANEOUS OFFICE EQUIPMENT INCLUDING:  (2) DOOR METAL    $ 5,000.00          $ 6,000.00       $ 7,000.00
                      LOCKERS, FILING CABINETS, APPROXIMATELY 300 LINEAR FT. OF
                      CLOTH 5' OFFICE PARTITIONS, METAL DESKS, SWIVEL CHAIRS,
                      INDIVIDUAL COMPUTER WORKSTATIONS, REFRIGERATOR,
                      APPROXIMATELY (6) GATEWAY P-2000 COMPUTERS, GATEWAY 2000
                      LAPTOP

  339       11167     LASERJET 5 SINX PRINTER                                      $ 1,500.00          $ 2,000.00       $ 2,500.00

----------------------------------------------------------------------------------------------------------------------------------
                      PAGE TOTAL                                                   $13,500.00          $18,000.00       $21,500.00
----------------------------------------------------------------------------------------------------------------------------------

Page 50

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------------
   #      ID #                              DESCRIPTION                            FLV                 FMV              FMIPV
----------------------------------------------------------------------------------------------------------------------------------
ROOM # 256 FIELD TEST
---------------------
----------------------------------------------------------------------------------------------------------------------------------
  340                 MISCELLANEOUS OFFICE/TEST EQUIPMENT INCLUDING:  METAL DESKS, $ 6,000.00          $ 8,000.00       $10,000.00
                      SWIVEL CHAIRS, METAL SHELVING, BOOKCASES, FILING CABINETS,
                      SOUND BOOTH ENCLOSURES, (7) SWIVEL VINYL CHAIRS, MISCELLANEOUS
                      TV'S, VCR'S, 486 PERSONAL COMPUTER, MONITOR, HP 4P
                      PRINTER TEST EQUIPMENT INCLUDING HP 8640A SIGNAL GENERATORS,
                      TEKTRONIX 2440 OSCILLOSCOPES, MULTIMETERS, HP8567A SPECTRUM
                      ANALYZERS, HP85650A QUASI PEAK ADAPTER, MINOLTA CRT COLOR
                      ANALYZER CA-100 7603 OSCILLOSCOPE, HP 8640B SIGNAL
                      GENERATOR VIDEO DISTRIBUTOR, A246
                      LEADER LCG 400-NTSC PATTERN GENERATOR, 7631 OSCILLOSCOPE, SHIBA
                      SOKU-MONITOR

----------------------------------------------------------------------------------------------------------------------------------
ROOM # 256 FIELD TEST ENGINEERING/DESIGN EVALUATION
---------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------

  341       11168     SHIBA SOKU TG15B6 TEST SIGNAL GENERATOR,                     $10,000.00          $20,000.00       $25,000.00
                      S/N M-62268007

  342       11169     LEADER WAVEFORM MONITOR 5100                                 $   700.00          $ 1,000.00       $ 1,500.00

  343       11170     SHIBA SOKU TEST SIGNAL TG71BX                                $ 5,000.00          $ 6,000.00       $ 7,000.00

  344       11171     SHIBA SOKU PATTERN GENERATOR TP22AX                          $ 2,000.00          $ 3,000.00       $ 3,500.00

  345       11172     LEADER SIGNAL GENERATOR 224                                  $ 1,000.00          $ 1,500.00       $ 2,000.00

  346       11173     LEADER PAL VECTORSCOPE 5851V                                 $   700.00          $ 1,000.00       $ 1,250.00

  347       11174     LEADER SIGNAL GENERATOR 224                                  $ 1,000.00          $ 1,500.00       $ 2,000.00

  348       11175     HDTV VCR, SR-W320WV W/WSCM-2                                 $ 2,000.00          $ 3,000.00       $ 4,000.00

----------------------------------------------------------------------------------------------------------------------------------
                           PAGE TOTAL                                              $28,400.00          $45,000.00       $56,250.00
----------------------------------------------------------------------------------------------------------------------------------

Page 51

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------------
   #      ID #                              DESCRIPTION                            FLV                 FMV              FMIPV
----------------------------------------------------------------------------------------------------------------------------------
ROOM #258
---------
----------------------------------------------------------------------------------------------------------------------------------
  349                  MISCELLANEOUS OFFICE FURNITURE INCLUDING:  COMPUTER         $ 7,000.00          $10,000.00       $12,000.00
                       WORKSTATIONS, APPROXIMATELY 120 LINEAR SQ. FT. OF 5' AND 7'
                       CLOTH OFFICE PARTITIONS, APPROXIMATELY (4) 486 PERSONAL
                       COMPUTERS, (4) GATEWAY P-2000'S MONITORS, HP LASERJET 4
                       PRINTER, FORMICA TOP TABLE, SIDE AND SWIVEL CHAIRS, METAL
                       BOOKCASE, REFRIGERATOR, OSCILLOSCOPE, FILING CABINETS,
                       LOCKERS, (3) SUN SPARC STATIONS

----------------------------------------------------------------------------------------------------------------------------------
ROOM #281
---------
----------------------------------------------------------------------------------------------------------------------------------

  350                  MISCELLANEOUS EQUIPMENT INCLUDING:  WORK TABLES, SWIVEL     $ 2,000.00          $ 3,000.00       $ 4,000.00
                       CHAIR, APPROXIMATELY (4) 486 PERSONAL COMPUTERS, VARIOUS
                       TELEVISIONS

----------------------------------------------------------------------------------------------------------------------------------
GLENVIEW 1ST FLOOR
------------------
VISITOR RECEPTION AREA
----------------------
----------------------------------------------------------------------------------------------------------------------------------

  351                  APPROXIMATELY (22) MATCHING LEATHER CONNECTABLE CHAIRS,     $ 8,000.00          $10,000.00       $12,000.00
                       W/(4) MATCHING COFFEE TABLES, RECEPTIONISTS "U" SHAPED DESK
                       W/WOODEN FILING CABINET, AREA RUGS, VARIOUS TELEVISION SETS,
                       VARIOUS VCRS, CABLE BOXES, PERSONAL COMPUTER MONITOR

----------------------------------------------------------------------------------------------------------------------------------
                       PAGE TOTAL                                                  $17,000.00          $23,000.00       $28,000.00
----------------------------------------------------------------------------------------------------------------------------------

Page 52

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------------
   #      ID #                              DESCRIPTION                            FLV                 FMV              FMIPV
----------------------------------------------------------------------------------------------------------------------------------
OFFICE AREA & HUMAN RESOURCES/PURCHASING
----------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
  352                 MISC. OFFICE FURNITURE/EQUIP. 1ST FLOOR INCLUDING BUT NOT    $35,000.00          $40,000.00       $50,000.00
                      LIMITED TO:  FORMICA TOP TABLES, CLOTH SIDE CHAIRS, COMPUTER
                      WORKSTATIONS, SWIVEL CHAIRS, APPROXIMATELY 40 PERSONAL
                      COMPUTERS, MONITORS, PRINTERS, VERTICAL FILING
                      CABINETS, METAL SHELVING, OFFICE SUPPLIES, METAL DESKS, ART
                      WORK, LATERAL FILING CABINETS, FORMICA TOP DESK W/MATCHING
                      CREDENZA, OVAL CONF. TABLE, SIDE CLOTH CHAIRS, FAX MACHINE,
                      TYPEWRITER, 12' CONF. ROOM FORMICA TOP TABLE,
                      MARKER BOARDS, EASELS, PORTABLE AUDIO/VIDEO CARTS, SKYLINE
                      TRADESHOW BOOTH, (5) GATEWAY LAPTOP COMPUTERS, PAPER
                      SHREDDERS, APPROX. 130' LINEAR FT. OF 7' METAL OFFICE
                      PARTITIONS, APPROX. 280' LINEAR FT. OF 5' METAL OFFICE
                      PARTITIONS

  353       11100     HP LASERJET 5SI PRINTER                                      $ 1,500.00          $ 2,000.00       $ 2,500.00

  354       11101     LX SERIES LX400 COMPLETE PICTURE ID SYSTEM INCLUDING CAMERA, $ 1,000.00          $ 1,500.00       $ 2,000.00
                      PERSONAL COMPUTER, LDT-4 LAMINATOR

  355       11102     SECURITY MONITORING SYSTEM INCLUDING MONITORS, (5) VICON     $ 4,000.00          $ 8,000.00       $10,000.00
                      VCRS, PANASONIC VCR, PERSONAL COMPUTER, PRINTER, MONITOR,

  356       11103     HP LASERJET 5SI PRINTER                                      $ 1,500.00          $ 2,000.00       $ 2,500.00

----------------------------------------------------------------------------------------------------------------------------------
CAFETERIA
---------
----------------------------------------------------------------------------------------------------------------------------------

  357       11104     (2) HOBART REFRIGERATORS MODEL E2, S/N 32-573-059,           $ 1,200.00          $ 2,000.00       $ 2,800.00
                      32-573-036

----------------------------------------------------------------------------------------------------------------------------------
                      PAGE TOTAL                                                   $44,200.00          $55,500.00       $69,800.00
----------------------------------------------------------------------------------------------------------------------------------

Page 52

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------------
   #      ID #                              DESCRIPTION                            FLV                 FMV              FMIPV
----------------------------------------------------------------------------------------------------------------------------------
CAFETERIA (CONT'D)
------------------
----------------------------------------------------------------------------------------------------------------------------------
  358       11106     LINCOLN-IMPINGER OVEN W/CONVEYOR BELT                        $   500.00          $   700.00       $ 1,000.00

  359       11107     HOBART REFRIGERATOR MODEL M2                                 $   500.00          $   750.00       $ 1,700.00


  360       11108     CHRYSLER/KOPPIN WALKIN FREEZER                               $   500.00          $   750.00       $ 2,000.00

  361       11109     CHRYSLER/KOPPIN WALKIN COOLER                                $   500.00          $   750.00       $ 2,000.00

  362       11110     CHRYSLER/KOPPIN WALKIN FREEZER                               $   500.00          $   750.00       $ 2,000.00

  363       11111     CHRYSLER/KOPPIN WALKIN COOLER                                $   500.00          $   750.00       $ 2,000.00

  364                 MISC. CAFETERIA EQUIPMENT INCLUDING HOBART MEAT SLICER,      $12,000.00          $14,000.00       $20,000.00
                      STAINLESS STEEL BUFFET STYLE SERVING STATIONS, HATCO TOAST
                      KING TOASTER, HOBART MIXER, METAL LOCKERS, CLEVELAND
                      CONVECTION STREAMERS, GROEN KETTLES, GE FRYOLATORS, GE
                      GRILL OVENS,METRO CARTS, POTS, PANS, SERVING TRAYS,
                      CONVEYOR, APPROXIMATELY (120) 30" X 48" FORMICA TOP
                      TABLES, APPROXIMATELY (480) PLASTIC CHAIRS, CASH REGISTERS,
                      LOCKERS, ICE CREAM DISPENSERS, COFFEE MACHINES, ALTO SHAAM
                      ROTATING HEATER/OVEN, SCOTSMAN MILK DISPENSERS,SERV-O-LIFTS

  365       11112     HOBART COMMERCIAL DISHWASHER                                 $ 3,000.00          $ 4,000.00       $ 6,000.00

----------------------------------------------------------------------------------------------------------------------------------
1ST FLOOR MEETING ROOM ROOM # 159
---------------------------------
----------------------------------------------------------------------------------------------------------------------------------

  366                 APPROXIMATELY (100) PLASTIC CHAIRS, OVERHEAD PROJECTORS,     $   750.00          $ 1,000.00       $ 1,250.00
                      (2) LARGE SCREEN TELEVISIONS

----------------------------------------------------------------------------------------------------------------------------------
                      PAGE TOTAL                                                   $18,750.00          $23,450.00       $37,950.00
----------------------------------------------------------------------------------------------------------------------------------

Page 54

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

-----------------------------------------------------------------------------------------------------------------------------
   #      ID #                              DESCRIPTION                                 FLV           FMV          FMIPV
-----------------------------------------------------------------------------------------------------------------------------
ROOM #160/179 1ST FLOOR
-----------------------
-----------------------------------------------------------------------------------------------------------------------------
  367                    METAL CABINETS, ELECTRIFIED TEST BENCHES, VARIOUS SIZE         $25,000.00    $35,000.00   $45,000.00
                         TELEVISIONS, VCRS, MISC. TEST EQUIP. INCLUD: MINOLTA CRT
                         COLOR ANALYZER CA-100, LEADER PATTERN GENERATOR PROBES,
                         TRACKING GENERATOR, SPECTRUM ANALYZER MULTIMETERS,
                         OSCILLOSCOPE, POWER SUPPLIES, SOLDERING STATIONS, IMPEDANCE
                         METERS, VOLTMETERS, BLUE-M OVEN, ROCKWELL HARDNESS TESTER,
                         7834 STORAGE OSCILLOSCOPE, HIPOT TESTER, HIGH VOLTAGE
                         POWERSUPPLIES, MISC. OFFICE EQUIP. INCLUD:  METAL
                         LOCKERS, VERTICAL FILING CABINETS, SWIVEL CHAIRS, APPROX.
                         300 LINEAR SQ. FT. OF 5 METAL OFFICE PARTITIONS, MICROWAVE,
                         APPROX. 25 PERSONALCOMPUTERS, MONITORS, PRINTERS, SCANNERS

  368       11113        MINOLTA MICROFICHE CARRIER 5 RP6052 ZOOM 13X-27X MINOLTA LENS  $ 1,000.00    $ 1,500.00   $ 2,000.00
                         TYPE 2, PROP. #86576

  369       11114        HP LASERJET 5 SI MX PRINTER                                    $ 3,000.00    $ 3,500.00   $ 4,500.00

  370       11115        COMPUTER NETWORK SYSTEM, 2 SERVER EX-450DE, AMERICAN UPS,      $ 4,000.00    $ 5,000.00   $ 6,000.00
                         TODD 8000 SERIES MR5000C MULTIPORT ETHERNET

  371       11116        HP COLOR LASERJET 5 PRINTER                                    $ 1,500.00    $ 2,000.00   $ 2,250.00

  372       11117        CUSTOM DESIGNED TEST STATION INCLUDING:  MULTI FREQUENCY LCR   $   200.00    $   500.00   $   700.00
                         METERS, HP VOLTMETERS

  373       11118        COMPAQ PROLIANT 4500 COMPUTER W/(2) APC BATTERY UPS, W/APC     $ 2,000.00    $ 2,500.00   $ 3,500.00
                         SMART UPS 2200 XL

-----------------------------------------------------------------------------------------------------------------------------
                         PAGE TOTAL                                                     $36,700.00    $50,000.00   $63,950.00
-----------------------------------------------------------------------------------------------------------------------------

Page 55

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------
   #      ID #                              DESCRIPTION                                 FLV           FMV          FMIPV
------------------------------------------------------------------------------------------------------------------------------
COMPONENT ANALYSIS LAB #177/150
-------------------------------
------------------------------------------------------------------------------------------------------------------------------
  374       11119        TMC CUSTOM FABRICATED NIKON STEREO MICROSCOPE COMPLETE W/      $50,000.00    $75,000.00   $ 90,000.00
                         JAVELIN SMARTCAM, MODEL #JE3762 DSP, S/N 37200183, (5) NIKON
                         LENSES (2.5 X, 5 X, 20 X, 50 X, 100 X) BUILT ON GRANITE SURFACE
                         PLATE W/ KARL SUSS ADJUSTABLE TABLE,VSL-337 LASERS, SONY 14"
                         MONITOR, POWER SUPPLIES

  375       11120        PROBE ONE MODEL #6605, 24" X 24" PROBING SYSTEM COMPLETE W/    $10,000.00    $12,000.00   $ 14,000.00
                         MICRO ZOOM II HIGH PERFORMANCE MICROSCOPE, (3) CAMBRIDGE
                         INSTRUMENT LENSES, PROP #83116, MC SYSTEMS COCRO POSITIONERS

  376       11121        ZEISS STEREO MICROSCOPE, W/ (4) INK OF LD-EPIIPLAN LENSES,     $ 5,000.00    $ 7,000.00   $ 10,000.00
                         NEC-TI-24A-CCD CAMERA

  377       11122        ZEISS STEREO MICROSCOPE W/ FILM MAGNIFICATION X 1.8            $ 1,500.00    $ 2,000.00   $  2,500.00

  378       11123        STEREO MICROSCOPE W/ (4) OLYMPUS LENSES                        $   800.00    $ 1,000.00   $  1,250.00

  379       11124        BAUSCH & LOMB STEREO MICROSCOPE W/ NEC - TI 24A-CCD CAMERA     $   500.00    $   750.00   $  1,000.00

------------------------------------------------------------------------------------------------------------------------------
                         PAGE TOTAL                                                     $67,800.00    $97,750.00   $118,750.00
------------------------------------------------------------------------------------------------------------------------------

Page 56

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

--------------------------------------------------------------------------------------------------------------------------------
   #      ID #                              DESCRIPTION                                 FLV           FMV          FMIPV
--------------------------------------------------------------------------------------------------------------------------------
COMPONENT ANALYSIS LAB #177/150 (CONT'D)
----------------------------------------
--------------------------------------------------------------------------------------------------------------------------------
  380                    MISCELLANEOUS TEST EQUIPMENT INCLUDING BUT NOT LIMITED TO:     $ 25,000.00   $ 35,000.00   $ 50,000.00
                         TEKTRONIX CURVE TRACER TYPE 576, OVENS, SOLDERING STATIONS,
                         ELECTRIFIED TEST BENCHES, MAGNIFYING INSPECTION LIGHTS,
                         RADIOMETRIC MICROSCOPE, STEREO MICROSCOPES, TEST
                         FIXTURES, HP MULTIMETERS, POWER SUPPLIES, UNIVERSAL
                         COUNTERS, FUNCTION GENERATORS, APPROXIMATELY (6) PERSONAL
                         COMPUTERS, MONITORS, PRINTERS, 468 OSCILLOSCOPE, BUCHLER LOW
                         SPEED SAWS, LAMINAR FLOW STATIONS, MISCELLANEOUS OFFICE
                         EQUIPMENT INCLUDING:  METAL DESKS, SWIVEL
                         CHAIRS, LATERAL & VERTICAL FILING CABINETS, BOOKSHELVES

  381       11125        JEOL ELECTRONIC SCANNING MICROSCOPE MODEL #JSM-35C,S/N         $150,000.00   $200,000.00   $225,000.00
                         EP15608242 W/ EDAX ENERGY DISPERSIVE ANALYSIS OF X-RAYS,
                         MODEL #707A, KEVE-X-RAY,  S/N N-2247, MODEL #3203-35-VR,
                         JEOL 4 CRYSTAL X-RAY SPECTROMETER, S/N EP337016-05

  382       11126        TECHNICS PLASMA GIMBH 100-E, SN/ 28379, PROP #74577,           $  1,250.00   $  1,500.00   $  2,000.00
                         W/ VACUUM GAUGE

  383       11127        MICROMANIPULATOR STEREO MICROSCOPE, PROP #48514, (4)           $  1,000.00   $  1,500.00   $  2,000.00
                         LENSES, MICRO POSITIONERS

--------------------------------------------------------------------------------------------------------------------------------
                         PAGE TOTAL                                                     $177,250.00   $238,000.00   $279,000.00
--------------------------------------------------------------------------------------------------------------------------------

Page 57

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

--------------------------------------------------------------------------------------------------------------------------------
   #      ID #                              DESCRIPTION                                 FLV           FMV          FMIPV
--------------------------------------------------------------------------------------------------------------------------------
COMPONENT ENGINEERING #156
--------------------------
--------------------------------------------------------------------------------------------------------------------------------
  384                    MISCELLANEOUS OFFICE / SUPPORT EQUIPMENT INCLUDING BUT NOT     $ 6,000.00    $10,000.00   $12,000.00
                         LIMITED TO:  12' RECTANGULAR CONFERENCE ROOM TALE, (12)
                         MATCHING CLOTH SWIVEL CHAIRS, METAL DESKS, APPROXIMATELY
                         70' LINEAR FEET OF 7' METAL OFFICE PARTITIONS,
                         LATERAL AND VERTICAL FILING CABINETS, SWIVEL CHAIRS,
                         PERSONAL COMPUTERS, MONITORS, PRINTERS, METAL SHELVING,
                         REFRIGERATOR, COFFEE MAKER

  385                    MISCELLANEOUS TEST EQUIPMENT INCLUDING: LEADER AUDIO           $ 8,000.00    $15,000.00   $20,000.00
                         GENERATOR, MODEL #LSW-115, LEADER LBO-115M MONITORSCOPE,
                         WOW FLUTTER METER, SENCORE ALL FORMAT VCR ANALYZER,
                         HP- 5316A UNIVERSAL COUNTER, HP-339A DISTORTION
                         MEASUREMENT SET, HP-H05-3310A FUNCTION GENERATOR,
                         VOLTMETER, SOLDERING GUNS, OSCILLOSCOPE 465B

  386       11128        TEKTRONIX TDS-460, 350 MHZ DIGITAL OSCILLOSCOPE                $ 3,000.00    $ 4,000.00   $ 5,000.00

  387       11129        TEST STATION INCLUDING:  TEKTRONIX 650 HR MONITOR              $ 3,000.00    $ 5,000.00   $ 7,000.00
                         W/ 1480R WAVE FORM MONITOR, 520A NTSC VECTORSCOPE,
                         1450-1 TELEVISION DE-MODULATOR

  388       11130        TEST STATION INCLUDING:  TEKTRONIX COLOR MONITOR 670A,         $ 5,000.00    $ 7,000.00   $ 9,000.00
                         1480R WAVEFORM  MONITOR, 147A NTSC TEST SIGNAL
                         GENERATOR, SHIBA SOKU 925D/1 NTSC COLOR VIDEO/
                         NOISE METER

--------------------------------------------------------------------------------------------------------------------------------
                         PAGE TOTAL                                                     $25,000.00    $41,000.00   $53,000.00
--------------------------------------------------------------------------------------------------------------------------------

Page 58

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------

   #      ID #                              DESCRIPTION                                 FLV           FMV          FMIPV
------------------------------------------------------------------------------------------------------------------------------------
HUMAN RESOURCES (1ST FLOOR) #176
--------------------------------
------------------------------------------------------------------------------------------------------------------------------------

  389                    MISCELLANEOUS OFFICE EQUIPMENT INCLUDING BUT NOT LIMITED TO:   $3,000.00      $ 4,000.00    $5,000.00
                         METAL DESKS, SWIVEL CHAIRS, LATERAL AND VERTICAL FILING
                         CABINETS, TYPEWRITERS, REFRIGERATOR, METAL LOCKERS, OFFICE
                         SUPPLIES

------------------------------------------------------------------------------------------------------------------------------------

BUSINESS CENTER (GROUND LEVEL)
------------------------------
------------------------------------------------------------------------------------------------------------------------------------


  390                    MISCELLANEOUS OFFICE EQUIPMENT INCLUDING BUT NOT LIMITED TO:  $ 2,500.00      $ 3,000.00    $3,500.00
                         METAL DESKS, SWIVEL CHAIRS, METAL SHELVING, MOVIN-COOL SPOT
                         COOLING SYSTEM, PORTABLE METAL CARTS, PERSONAL COMPUTER,
                         MONITOR, PRINTER, GBC ELECTRIC IMAGE MAKER 3000 BINDER,
                         TYPEWRITER

  391       11000        MULTIGRAPHICS PLOCKMATIC INTERNATIONAL AB FOLDER/ BOOKLET     $ 5,000.00      $ 6,000.00    $ 7,000.00
                         MAKER, MODEL #89, S/N 89053249

  392       11001        CHALLENGE PADDY WAGON, PADDER PORTABLE METAL FRAME            $   200.00      $   250.00    $   300.00

  393       11002        MARTIN YALE FOLDING MACHINE MODEL #959AF, S/N 9482,           $ 2,000.00      $ 2,750.00    $ 3,500.00
                         AIR FEED AUTO FOLDER

------------------------------------------------------------------------------------------------------------------------------------

SHIPPING & RECEIVING LOADING DOCK (GROUND LEVEL)
------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------


  394       11003        VERTECH BALER M-60, 5' X 2 1/2'                               $   750.00      $ 1,250.00    $ 1,500.00

  395       11004        CLARK ELECTRIC WALK BEHIND PALLET JACK, MODEL                 $   500.00      $   800.00    $ 1,000.00
                         #5T20, S/N ST245-623-2324-976, 2,000 LB CAPACITY

  396                    MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:         $ 1,500.00      $ 2,000.00    $ 2,500.00
                         HAND TRUCKS, PALLET JACK, TRASH BINS PORTABLE,
                         BANDING CART, METRO CARTS, METAL DESKS, SWIVEL CHAIRS,
                         SCALE

------------------------------------------------------------------------------------------------------------------------------------

                         PAGE TOTAL                                                    $15,450.00      $20,050.00    $24,300.00
------------------------------------------------------------------------------------------------------------------------------------

Page 59

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATON
GLENVIEW FACILITY #31
APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
#             ID#              DESCRIPTION                                               FLV          FMV             FMIPV
---------------------------------------------------------------------------------------------------------------------------------
TEST EQUIPMENT OFFICE
---------------------
---------------------------------------------------------------------------------------------------------------------------------
  397                 MISCELLANEOUS OFFICE EQUIPMENT INCLUDING BUT NOT LIMITED TO:       $ 2,000.00   $ 2,500.00       $ 3,000.00
                      METAL DESKS, VERTICAL METAL FILING CABINETS, SWIVEL CHAIRS,
                      TYPEWRITERS, FAX MACHINE, (2) PERSONAL COMPUTERS, MONITORS,
                      PRINTERS, MARKER BOARD

---------------------------------------------------------------------------------------------------------------------------------
TEST EQUIPMENT ENGINEERING (GROUND LEVEL)
-----------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
  398                 MISCELLANEOUS TESTING/ OFFICE EQUIPMENT INCLUDING BUT NOT          $40,000.00   $50,000.00       $55,000.00
                      LIMITED TO:  METAL LOCKERS, VERTICAL METAL FILING CABINETS,
                      METRO CARTS, PROJECTION DISPLAY, APPROXIMATELY (17) PERSONAL
                      COMPUTERS, MONITORS, PRINTERS, SCANNERS, PLOTTERS,
                      ELECTRIFIED TEST BENCHES, METAL DESKS, SWIVEL CHAIRS, COAT
                      RACK, MOVIN-COOL SPOT COOLING SYSTEM, METAL BOOKCASES, HAND
                      TOOLS, BLUEPRINT STORAGE CABINETS, MISCELLANEOUS TEST EQUIPMENT
                      INCLUDING:  HP MULTIMETERS AUDIO ANALYZERS, TEKTRONIX RTD710A
                      DIGITIZERS, HP POWER SUPPLIES, LEADER PATTERN GENERATOR 408,
                      SOLDERING STATIONS, FUNCTION GENERATOR MODULATION, DIGITAL
                      COUNTERS, PROBES, HP OSCILLOSCOPES, LEADER LBO-518 OSCILLOSCOPES,
                      LEADER VECTROSCOPE, WAVEFORM MONITORS, NEC TI24-A CCD CAMERAS

  399       11005    CUSTOM DESIGNED TEST STATION INCLUDING:  HP-3478A MULTIMETER,       $ 2,000.00   $ 2,500.00       $ 3,000.00
                     QUANTUM DATA VIDEO GENERATOR, PANASONIC 40 MSPS DIGITAL
                     OSCILLOSCOPE VP-5720A, X-PRO INDUSTRIAL COMPUTER

---------------------------------------------------------------------------------------------------------------------------------
                     PAGE TOTAL                                                          $44,000.00   $55,000.00       $61,000.00
---------------------------------------------------------------------------------------------------------------------------------

Page 60

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATON
GLENVIEW FACILITY #31
APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
#             ID#              DESCRIPTION                                              FLV                FMV            FMIPV
---------------------------------------------------------------------------------------------------------------------------------
TEST EQUIPMENT ENGINEERING (CONT'D)
-----------------------------------
---------------------------------------------------------------------------------------------------------------------------------
  400       11006   CUSTOM DESIGNED TEST STATION INCLUDING:  (2) HP SIGNAL           $ 3,000.00       $ 5,000.00       $ 6,000.00
                    GENERATOR 8657A, .1-1040 MHZ, HP SPECTRUM ANALYZER, TELEVISION
                    & AGILE MODULATORS, DIGILOM MEDIA COMPRESSOR

  401       11007   CC MAIL LINK SYSTEM INCLUDING: (5) PROCESSORS, SUPERIOR          $ 2,000.00       $ 5,000.00       $ 8,000.00
                    ELECTRIC UPS

  402       11008   CUSTOM DESIGNED TEST STATION INCLUDING:  LEADER 100 MHZ          $ 7,500.00       $10,000.00       $12,000.00
                    OSCILLOSCOPE, QUANTUM MODEL #902 VIDEO GENERATORS, PANASONIC
                    VP-5740P DIGITAL OSCILLOSCOPE 100 MHZ

  403       11009   CUSTOM DESIGNED TEST STATION INCLUDING:  HP UNIVERSAL SOURCE     $ 6,000.00       $ 7,000.00       $ 8,000.00
                    3245A, HP MULTIMETER, TEKTRONIX AM700 AUDIO MEASUREMENT SET

  404       11010   CUSTOM DESIGNED TEST STATION INCLUDING:  PANASONIC 40 MPS        $ 2,500.00       $ 3,500.00       $ 4,500.00
                    DIGITAL OSCILLOSCOPE, VP-5720A INDUSTRIAL COMPUTER, NOISE FILTER

  405       11011   CUSTOM DESIGNED TEST STATION INCLUDING:  HP 8730A TUNER          $ 2,000.00       $ 2,500.00       $ 3,000.00
                    ANALYZER, HP 87030A TUNER SET, HP CABLE TV ANALYZER

  406       11012   CUSTOM DESIGNED TEST STATION INCLUDING:  LEADER 3100A, 100 MHZ   $ 1,500.00       $ 2,000.00       $ 2,500.00
                    OSCILLOSCOPE, HP MODEL #8711A RF NETWORK ANALYZER, HP 5313A
                    UNIVERSAL COUNTER, HP 34401A MULTIMETER, DC POWER SUPPLIES

  407       11013   CUSTOM DESIGNED TEST STATION INCLUDING:  HP 8591C CABLE TV       $ 2,000.00       $ 2,500.00       $ 3,000.00
                    ANALYZER, VIDEOTEK DM-154 DEMODULATOR, TEKTRONIX VM700T VIDEO
                    MEASUREMENT SET, INDUSTRIAL COMPUTERS

---------------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                       $26,500.00       $37,500.00       $47,000.00
---------------------------------------------------------------------------------------------------------------------------------

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ZENITH CORPORATON
GLENVIEW FACILITY #31
APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
#             ID#                             DESCRIPTION                                   FLV           FMV           FMIPV
---------------------------------------------------------------------------------------------------------------------------------
TEST EQUIPMENT ENGINEERING (CONT'D)
-----------------------------------
---------------------------------------------------------------------------------------------------------------------------------
  408       11014       CUSTOM DESIGNED TEST STATION INCLUDING:  LEADER 408 PATTERN      $ 5,000.00     $ 6,000.00    $ 7,000.00
                        GENERATOR, SORENSEN POWER SUPPLY, KIKUSUI AUTOMATIC I/O I
                        TESTER TO 9000

  409       11015       CUSTOM DESIGNED TEST STATION INCLUDING:  CATEL TELEVISION        $ 3,500.00     $ 4,500.00    $ 5,500.00
                        MODULATOR, TV STEREO GENERATOR, SONY RTD710A DIGITIZER,
                        FLUKE 6061A SYNTHESIZED SIGNAL GENERATOR 10-1050 MHZ

  410       11016       CUSTOM DESIGNED CIRCUIT BOARD TEST FIXTURE INCLUDING: HOLD-      $ 2,500.00     $ 7,500.00    $12,000.00
                        DOWN FEATURE, HYDRAULICS, BOARD CONVEYOR, CONTROLS

  411       11017       CUSTOM DESIGNED TEST STATION INCLUDING:  LEADER 3100A, 100 MHZ   $10,000.00     $12,500.00    $15,000.00
                        DIGITAL OSCILLOSCOPE, HP 8591C CABLE TV ANALYZER, ATSC / DTV
                        MODULATOR, HP 8657A SIGNAL GENERATOR, HP UNIVERSAL COUNTER,
                        MULTIMETER, LEADER PATTERN GENERATOR 408

  412       11018       (1988) BRUNING PD 778 BLUE PRINT COPIER, S/N 0077-81468, 4'      $ 1,000.00     $ 1,500.00    $ 2,000.00
                        CAPACITY

  413       11019       CUSTOM DESIGNED TEST FIXTURE INCLUDING:  HP 54620A LOGIC         $ 1,000.00     $ 1,250.00    $ 1,500.00
                        ANALYZER, HP 34401A MULTIMETER, ZENITH DESIGNED TRANSMITTER
                        INTERFACE

  414       11020       CUSTOM DESIGNED TEST STATION INCLUDING:  LEADER 3100A, 100 MHZ   $ 2,000.00     $ 2,500.00    $ 3,000.00
                        DIGITAL OSCILLOSCOPE, HP 34401A MULTIMETER, INDUSTRIAL COMPUTER

---------------------------------------------------------------------------------------------------------------------------------
                        PAGE TOTAL                                                       $25,000.00     $35,750.00    $46,000.00
---------------------------------------------------------------------------------------------------------------------------------

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ZENITH CORPORATON
GLENVIEW FACILITY #31
APRIL 1, 1998

---------------------------------------------------------------------------------------------------------------------------------
#             ID#              DESCRIPTION                                                FLV            FMV            FMIPV
---------------------------------------------------------------------------------------------------------------------------------
TEST EQUIPMENT ENGINEERING (CONT'D)
-----------------------------------
---------------------------------------------------------------------------------------------------------------------------------
  415       11021   CUSTOM DESIGNED TEST STATION INCLUDING:  LEADER 3100A, 100 MHZ    $ 5,500.00     $ 6,500.00       $ 7,500.00
                    DIGITAL OSCILLOSCOPE, HP 8657A SIGNAL GENERATOR, LEADER 408
                    PATTERN GENERATOR, (3) HP 6621A DC POWER SUPPLIES, INDUSTRIAL
                    COMPUTERS, SONY MONITOR 17"

  416       11022   CUSTOM DESIGNED TEST STATION INCLUDING:  LEADER 3100A DIGITAL     $ 2,000.00     $ 2,500.00       $ 3,000.00
                    100 MHZ OSCILLOSCOPE, KIKUSUI TOS-9000 AUTOMATIC W/ I TESTER,
                    PRO LOGIC 760 INDUSTRIAL COMPUTER, 15" MONITOR, LEADER 408 NPS
                    PATTERN GENERATOR

------------------------------------------------------------------------------------------------------------------------------------
MODEL SHOP (GROUND LEVEL)
-------------------------
------------------------------------------------------------------------------------------------------------------------------------
  417               MISCELLANEOUS SUPPORT EQUIPMENT INCLUDING BUT NOT LIMITED TO:     $40,000.00     $50,000.00       $60,000.00
                    METAL DESKS, SWIVEL CHAIRS, METAL LOCKERS, WOODEN DESKS,
                    APPROXIMATELY (4) PERSONAL COMPUTERS, MONITORS, PRINTERS,
                    WOODEN DESKS W/ MATCHING CREDENZAS, WORK BENCHES, BENCH
                    VISES, ARBOR PRESS, DRILL PRESS, INVENTORY CARTS, MILWAUKEE
                    MAGNETIC DRILL PRESSES, METAL SHELVING, CLAMPS, MICROMETERS,
                    ROTARY MILLING HEAD, SPOT WELDERS, DI-ACRO PUNCH #2, FINGER
                    BRAKE, PUNCH #1, SAND BLAST CABINETS, OVENS, ACETYLENE TORCH
                    CARTS, WELDING CURTAIN, FLAMMABLE STORAGE CABINETS, FANS,
                    ENDLESS BAND SAWS, WET/DRY VACS, TURRET PUNCHES, HAND PRESS
                    BRAKE, PINCH BENDING ROLLS, TOOL & CUTTER GRINDERS, DOUBLE END
                    EQUIPMENT, PALLET RACKING, PALLET JACKS, VACUUM PUMPS, DIE LIFT
                    TABLES, EXPOSURE EQUIPMENT, PERISHABLE TOOLING

------------------------------------------------------------------------------------------------------------------------------------
                    PAGE TOTAL                                                        $47,500.00     $59,000.00       $70,500.00
------------------------------------------------------------------------------------------------------------------------------------

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ZENITH CORPORATON
GLENVIEW FACILITY #31
APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
#             ID#              DESCRIPTION                                                 FLV             FMV           FMIPV
------------------------------------------------------------------------------------------------------------------------------------
MODEL SHOP (CONT'D)
-------------------
------------------------------------------------------------------------------------------------------------------------------------
  418                TESTING EQUIPMENT INCLUDING:  HEIGHTCHECKS, HARDNESS TESTERS,
                     SCALES, STEREO MICROSCOPES, PIN GAUGES, HAND TOOLS, VARIOUS
                     POWER TOLLS, GRANITE SURFACE PLATES, DRILL BITS, REAMERS,
                     PARTS BINS, PUNCH DIES, RAW WELDING SUPPLIES, PORTABLE STAIRCASE,
                     LADDERS, QUICK CHANGE ADAPTERS

  419       11023    JONES & LAMSON EPIC 30" OPTICAL COMPARATOR, W/ JONES & LAMSON        $15,000.00      $20,000.00     $ 25,000.00
                     DRO, PROP #15494

  420       11024    BROWN & SHARPE MICROVAL 3 AXIS COORDINATE MEASURING MACHINE W/       $ 1,000.00      $ 1,500.00     $  2,000.00
                     30" X 22" SURFACE PLATE

  421       11025    ROCKWELL HARDNESS TESTER, PROP #34726                                $ 1,000.00      $ 1,500.00     $  2,000.00

  422       11026    CHALLENGE 36" X 24" GRANITE SURFACE PLATE                            $   500.00      $   750.00     $  1,000.00

  423       11027    DOALL 48" X 24" GRANITE SURFACE PLATE                                $   650.00      $   850.00     $  1,100.00

  424       11028    HARDINGE DV 59 TOOLROOM LATHE 1 HP, 3 PHASE, PROP #13687             $ 4,000.00      $ 5,500.00     $  7,000.00

  425       11029    HARDINGE DV 59 TOOLROOM LATHE 1 HP, 3 PHASE, PROP #N/A               $ 4,000.00      $ 5,500.00     $  7,000.00

  426       11030    CLAYSING 15" X 30" CC ENGINE LATHE, S/N 35833                        $ 5,000.00      $ 6,500.00     $  7,500.00

  427       11031    HARDINGE HLV TOOLROOM LATHE W/ ACCURITE III CONTROLS, POWER          $ 7,000.00      $ 9,000.00     $ 10,000.00
                     TOOL POST TAILSTOCK, S/N HLV-H-11177-T

  428       11032    HARDINGE HLV TOOLROOM LATHE W/ ACCURITE III CONTROLS, POWER          $ 6,000.00      $ 8,000.00     $  9,000.00
                     TOOL POST TAILSTOCK, S/N HLV-H-5621-L

  429       11033    HARDINGE HLV TOOLROOM LATHE W/ ACCURITE III CONTROLS, POWER          $ 7,000.00      $ 9,000.00     $ 10,000.00
                     TOOL POST TAILSTOCK, S/N HLV-H-8597-T

------------------------------------------------------------------------------------------------------------------------------------
                     PAGE TOTAL                                                           $51,150.00      $68,100.00     $ 81,600.00
------------------------------------------------------------------------------------------------------------------------------------

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ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                                FLV            FMV            FMIPV
----------------------------------------------------------------------------------------------------------------------------------
MODEL SHOP (CONT'D)
-------------------
----------------------------------------------------------------------------------------------------------------------------------
430    11034      HARDINGE HLV TOOLROOM LATHE W/ ACCURITE III CONTROLS, POWER        $  6,000.00    $  8,000.00    $  9,000.00
                  TOOL POST TAILSTOCK, S/N HLV-H-1998

431    11035      BRIDGEPORT SERIES I, 2 HP VERTICAL MILLING MACHINE, W/ ACCURITE    $  4,500.00    $  5,500.00    $  6,500.00
                  III CONTROLS, POWER FEED, 9" X 32" TABLE, PROP #73139

432    11036      BRIDGEPORT SERIES I, 2 HP VERTICAL MILLING MACHINE, W/ ACCURITE    $  6,000.00    $  7,000.00    $  9,000.00
                  III CONTROLS, POWER FEED, 9" X 42" TABLE, PROP #62293, S/N
                  229884

433    11037      BRIDGEPORT SERIES I, 2 HP VERTICAL MILLING MACHINE, S/N 237091,    $  6,000.00    $  7,000.00    $  9,000.00
                  PROP #68304, W/ ACCURITE III CONTROLS, POWER TABLE, 9" X 42"
                  TABLE

434    11038      BRIDGEPORT SERIES I, 2 HP VERTICAL MILLING MACHINE, S/N N/A,       $  5,500.00    $  6,000.00    $  7,000.00
                  PROP #35182, W/ ACCURITE III CONTROLS, POWER TABLE, 9" X 42"
                  TABLE

435    11039      BRIDGEPORT SERIES I, 2 HP VERTICAL MILLING MACHINE, S/N 242239,    $  6,000.00    $  7,000.00    $  9,000.00
                  PROP #71685, W/ ACCURITE III CONTROLS, POWER TABLE, 9" X 42"
                  TABLE

436    11040      BRIDGEPORT SERIES I, 2 HP VERTICAL MILLING MACHINE, S/N N/A,       $  6,000.00    $  7,000.00    $  9,000.00
                  PROP #71684, W/ ACCURITE III CONTROLS, POWER TABLE, 9" X 42"
                  TABLE

437    11041      BRIDGEPORT SERIES I, 2 HP VERTICAL MILLING MACHINE, S/N N/A,       $  6,000.00    $  7,000.00    $  9,000.00
                  PROP #22923, W/ ACCURITE III CONTROLS, POWER TABLE, 9" X 42"
                  TABLE

438    11042      BRIDGEPORT SERIES I, 2 HP VERTICAL MILLING MACHINE, S/N N/A,       $  6,000.00    $  7,000.00    $  9,000.00
                  PROP #71686, W/ ACCURITE III CONTROLS, POWER TABLE, 9" X 42"
                  TABLE

----------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                         $ 52,000.00    $ 61,500.00    $ 76,500.00
----------------------------------------------------------------------------------------------------------------------------------

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ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                                FLV            FMV            FMIPV
----------------------------------------------------------------------------------------------------------------------------------
MODEL SHOP (CONT'D)
-------------------
----------------------------------------------------------------------------------------------------------------------------------
439    11043      K. R. WILSON MODEL #37FMD-DA-1P, S/N 2354, PROP #12240,            $    750.00    $    950.00    $  1,250.00
                  HYDRAULIC PRESS

440    11044      (1987) LVD 55 TON PRESS BRAKE, MODEL #55-BH-04, S/N 14022,         $ 12,000.00    $ 14,000.00    $ 16,000.00
                  MAXIMUM CAPACITY PPCR-50/1250

441    11045      (1983) AMADA 30 TON PRESS BRAKE, MODEL #SPH-30C, S/N 308278,       $ 12,000.00    $ 15,000.00    $ 20,000.00
                  PROP #65399

442    11046      STRIPPIT PUNCH PRESS MODEL SUPER 30, S/N 2847163, PROP #13905      $  8,000.00    $ 10,000.00    $ 12,000.00

443    11047      MILLER PRECISION WELDER TIG-50A, S/N JH153670, PROP #75329         $    400.00    $    600.00    $    800.00

444    11048      FRENCH OIL MILL PRESS, MODEL #9365, S/N 69729, 18" X 18" BED,      $  3,000.00    $  3,500.00    $  4,000.00
                  PROP #4586

445    11049      AGIETRON EDM- MODEL #K10, S/N 0057                                 $  6,000.00    $  8,000.00    $ 10,000.00

446    11050      CHARMILLES ELDRODA DI-5, EDM, S/N 10747, PROP                      $  7,500.00    $  9,500.00    $ 12,000.00

447    11051      CHICAGO DRIES & KRUMP POWER SQUARING SHEAR, MODEL #UA-6135, S/N    $ 12,000.00    $ 14,000.00    $ 16,000.00
                  DS-1251, PROP #27958, 6'-10 GAUGE CAPACITY

448    11052      DOALL VERTICAL BAND SAW 16" CAPACITY, PROP #5031, WELDING          $  1,500.00    $  2,000.00    $  2,500.00
                  ATTACHMENT

449    11053      NIAGARA 48" SQUARING SHEAR, PROP #11757                            $  2,500.00    $  3,000.00    $  3,500.00

450    11054      KALAMAZOO HORIZONTAL METAL CUTTING BAND SAW, MODEL #H8AWV, S/N     $    300.00    $    400.00    $    500.00
                  599

451    11055      EMERSON CIRCULAR SAW, MODEL #17-10-6R, S/N CPO-31512W              $    750.00    $  1,000.00    $  1,250.00

----------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                         $ 66,700.00    $ 81,950.00    $ 99,800.00
----------------------------------------------------------------------------------------------------------------------------------

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GREENWICH INDUSTRIAL SERVICES, LLC

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ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                                FLV            FMV            FMIPV
----------------------------------------------------------------------------------------------------------------------------------
MODEL SHOP (CONT'D)
-------------------
----------------------------------------------------------------------------------------------------------------------------------
452    11056      HERMAN 6' X 4' GRANITE SURFACE PLATE, S/N 26456,                   $  2,000.00    $  2,500.00    $  3,000.00

453    11057      STRIPPIT TURRET PUNCH PRESS, MODEL #HECC-80, PROP #61616, W/       $ 15,000.00    $ 20,000.00    $ 25,000.00
                  CONTROLS, ASSOCIATED

454    11058      N / C SYSTEMS, MODEL #VM-300, CNC MILLING MACHINE, MANUAL TOOL     $  8,000.00    $ 10,000.00    $ 12,000.00
                  CHARGE DYNAPATH SYSTEM, 10 CONTROLS

455    11059      BRIDGEPORT SERIES I, 2 HP VERTICAL MILLING MACHINE, 9" X 48"       $  6,500.00    $  8,500.00    $ 10,000.00
                  TABLE W/ ACCURITE III CONTROLS, POWER FEED

456    11060      BRIDGEPORT SERIES I, 2 HP VERTICAL MILLING MACHINE, 9" X 42"       $  5,500.00    $  7,000.00    $  9,000.00
                  TABLE W/ ACCURITE III CONTROLS, POWER FEED

457    11061      HARIG SUPER 612 SURFACE GRINDER, S/N 7084, PROP #29244 W/          $  3,000.00    $  4,000.00    $  5,000.00
                  CERAMAX 6" X 12" PERMANENT MAGNETIC CHUCK

458    11062      HARIG SUPER 612 SURFACE GRINDER, S/N 7459, PROP #29244 W/          $  3,000.00    $  4,000.00    $  5,000.00
                  CERAMAX 6" X 12" PERMANENT MAGNETIC CHUCK

459    11063      MHT SURFACE GRINDER, MODEL #MSG200MH, PROP #73779, S/N 85085935    $  7,000.00    $  9,000.00    $ 11,000.00
                  W/ WALDER 6" X 12" PERMANENT MAGNETIC CHUCK

460    11064      MHT SURFACE GRINDER, MODEL #MSG200MH, PROP #71855, S/N 85025631    $  8,000.00    $ 10,000.00    $ 12,000.00
                  W/ WALDER 6" X 12" PERMANENT MAGNETIC CHUCK

461    11065      DOALL SURFACE GRINDER G-1 W/ HITACHI 6" X 18" PERMANENT            $  3,000.00    $  3,500.00    $  4,000.00
                  MAGNETIC CHUCK

462    11066      BLUE-M ELECTRIC OVEN, MODEL #DC-136C, S/N DC-2169, PROP #73584,    $    750.00    $  1,000.00    $  1,250.00
                  18" X 24" X 24" H

463    11067      MOORE JIG BORER, S/N 5214                                          $  1,500.00    $  2,000.00    $  2,500.00

----------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                         $ 63,250.00    $ 81,500.00    $ 99,750.00
----------------------------------------------------------------------------------------------------------------------------------

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GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                                FLV            FMV            FMIPV
----------------------------------------------------------------------------------------------------------------------------------
SUPPLY AREA (GROUND FLOOR)
--------------------------
----------------------------------------------------------------------------------------------------------------------------------
464               MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:  METAL       $  5,000.00    $  6,000.00    $  7,000.00
                  SHELVING, TRADE SHOW BOOTHS, CUSTOM DESIGNED HYDRAULIC PRESS
                  MACHINE, PROJECTION SCREEN TV'S, OFFICE SUPPLIES, INVENTORY
                  PORTABLE TELEVISION CARTS, BARREL CARTS

465    11068      CUSTOM DESIGNED WINDING MACHINE W/ DRIVE MOTORS, WINDING REELS,    $  1,000.00    $  1,500.00    $  2,000.00
                  (NOT IN SERVICE)

----------------------------------------------------------------------------------------------------------------------------------
MAINTENANCE AREA (GROUND FLOOR)
-------------------------------
----------------------------------------------------------------------------------------------------------------------------------
466    11069      BRIDGEPORT VERTICAL MILLING MACHINE SERIES I, 2 HP, 9" X 42"       $  4,000.00    $  4,500.00    $  5,000.00
                  TABLE, S/N N/A, PROP #75210

467    11070      RIGID 535 PIPE THREADER, S/N 360730                                $    500.00    $    600.00    $    700.00

468    11071      P & H AC/DC ARC WELDER                                             $  1,250.00    $  1,500.00    $  1,750.00

469               MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:              $ 15,000.00    $ 20,000.00    $ 25,000.00
                  FLAMMABLE STORAGE CABINETS, PALLET JACKS, DRILL PRESS,
                  INVENTORY CARTS, "H" FRAME PRESS, DOUBLE END GRINDERS, BENCH
                  VISES, ACETYLENE TORCH CARTS, SPOT WELDERS, BLUE
                  PRINT CABINETS, LOCKERS, REFRIGERATOR, ARBOR PRESSES, TURRET
                  PUNCH PRESS, HAND TOOLS INCLUDING:  DRILLS, SKILSAWS, IMPACT
                  WRENCH KITS, SAWZALL CIRCULAR SAWS, SPARE PARTS,
                  SUPPLIES, SOLDERING GUNS, JOB BOXES, OFFICE AREA INCLUDING:
                  METAL DESKS, VERTICAL FILING CABINETS, FORMICA TOP TABLES,
                  METAL LOCKERS, APPROXIMATELY (4) PERSONAL COMPUTERS,
                  MONITOR, PRINTERS, VERTICAL MANOMETERS, PROBES, ARCHITECT TABLE

470    11072      PEXTO POWER SHEAR, MODEL #12-U-4H, S/N 65396, CAPACITY 12          $  3,000.00    $  3,500.00    $  4,000.00
                  GAUGE, 48" CAPACITY

----------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                         $ 29,750.00    $ 37,600.00    $ 45,450.00
----------------------------------------------------------------------------------------------------------------------------------

Page 68

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                                FLV            FMV            FMIPV
----------------------------------------------------------------------------------------------------------------------------------
MAINTENANCE AREA (GROUND FLOOR (cont'd)
---------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
471    11073      70" METAL BENDING BRAKE                                            $    400.00    $    600.00    $    800.00

472    11074      POWERMATIC TABLE SAW, S/N 663585, PROP #38353                      $    750.00    $  1,000.00    $  1,250.00

473    11075      HARDINGE DV-59 TOOLROOM LATHE W ASSOC. EQUIP.                      $  3,500.00    $  4,000.00    $  4,500.00

474               MAINTENANCE SHOP/SUPPLY CAGE INCLUDING BUT NOT LIMITED TO:         $  5,000.00    $  6,000.00    $  7,000.00
                  PLUMBING SUPPLIES, HAND TOOLS, SHELVING, PLUMBING SNAKES,
                  PIPING, METAL LOCKERS, OIL CANS, CHAIN HOISTS, LIGHTBULBS,
                  CLAMPS, HAND TRUCKS, LADDERS, (2) ROL-A-LIFTS,CROWN WALK
                  BEHIND PALLET JACK, ENGINE HOIST

----------------------------------------------------------------------------------------------------------------------------------
PAINT SHOP (GROUND FLOOR)
-------------------------
----------------------------------------------------------------------------------------------------------------------------------
475               MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:  SOLVO       $  2,000.00    $  2,500.00    $  3,000.00
                  SALVAGER, MODEL #EP2-HERKULES, GUN WASHER/ RECYCLE, FLAMMABLE
                  STORAGE CABINETS, WORK BENCHES, SWIVEL CHAIRS

----------------------------------------------------------------------------------------------------------------------------------
CLEANING DEPARTMENT
-------------------
----------------------------------------------------------------------------------------------------------------------------------
476               MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:  FLOOR       $    500.00    $    600.00    $    700.00
                  SCRUBBERS, MOPS, VACUUMS

----------------------------------------------------------------------------------------------------------------------------------
FINAL ASSEMBLY TEST
-------------------
----------------------------------------------------------------------------------------------------------------------------------
477    11077      (3) CUSTOM DESIGNED TEST STATION INCLUDING:  MONITOR,              $ 40,000.00    $ 50,000.00    $ 75,000.00
                  INDUSTRIAL COMPUTER, PREK COMMANDER 19R, (12) DALSA CCD
                  CAMERAS, NEC-T1-324ACCD CAMERA, POWER SUPPLY, VIDEO GENERATOR

478               MISCELLANEOUS OFFICE FURNITURE INCLUDING:  TECH JET PLOTTERS,      $  2,000.00    $  3,000.00    $  4,000.00
                  BLUE-PRINT CABINETS, MARKER BOARD, SWIVEL & SIDE CHAIRS

----------------------------------------------------------------------------------------------------------------------------------
                  PAGE TOTAL                                                         $ 54,150.00    $ 67,700.00    $ 96,250.00
----------------------------------------------------------------------------------------------------------------------------------

Page 69

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

----------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                                FLV            FMV            FMIPV
----------------------------------------------------------------------------------------------------------------------------------
STORAGE CAGE
------------
----------------------------------------------------------------------------------------------------------------------------------
483               MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:  METAL       $ 10,000.00    $ 12,000.00    $ 16,000.00
                  SHELVING, PALLET JACKS, METRO CARTS, METAL LOCKERS,
                  MISCELLANEOUS SUPPLIES, INTEGRATED CIRCUITS, DRILL PRESSES,
                  LADDERS, CIRCUIT BOARD COMPONENT SUPPLIES,
                  TELEVISION SETS, MISCELLANEOUS TEST EQUIPMENT, CINCH CONNECTORS

----------------------------------------------------------------------------------------------------------------------------------
AGE / LIFE RELIABILITY
----------------------
----------------------------------------------------------------------------------------------------------------------------------
484               MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:  VARIAL      $  2,000.00    $  3,500.00    $  7,000.00
                  ELECTRICAL CONTROL AUTO TRANSFORM PANEL CUSTOM DESIGNED W/ (6)
                  ELECTRIFIED RACKING SHELVES

485    11078      BLUE-M ENVIRONMENTAL TEST CHAMBER MODEL #POM-964BI-E, PROP         $  1,000.00    $  1,500.00    $  2,000.00
                  #48623, S/N PS-2209

486    11079      RANSCO INDUSTRIES ENVIRONMENTAL TEST CHAMBER, MODEL #7102-3,       $  1,000.00    $  1,500.00    $  2,000.00
                  PROP #01822, S/N 3855, -73 TO 200 DEGREES C

487    11080      THERMOTRON MODEL #SM-525, S/N 25-2591-04, ENVIRONMENTAL TEST       $  1,000.00    $  1,500.00    $  2,000.00
                  CHAMBER, PROP #48622

488    11081      CUSTOM DESIGNED VIBRATION / SHAKER MACHINE, W/ UNHOLTZ / DICKIE    $  5,000.00    $  7,000.00    $ 12,000.00
                  VIBRATORY TABLE, UNHULTZ DICKIE CONTROLS INCLUDING MONITOR,
                  DACTRON SHAKER CONTROL SYSTEM, INDUSTRIAL COMPUTER

489    11082      VIP 56 ENVIRONMENTAL TEST CHAMBER MODEL #10164RX, S/N 164,         $    200.00    $    400.00    $    800.00
                  TEMPERATURE RANGE 26 TO 37 DEGREES C, HUM 80-95%

----------------------------------------------------------------------------------------------------------------------------------
PACKING LAB
-----------
----------------------------------------------------------------------------------------------------------------------------------
490    11083      CUSTOM DESIGNED GAYNES FLAT IMPACT MACHINE, S/N 2358, (TEST        $    500.00    $    700.00    $  1,000.00
                  EQUIPMENT)

491    11084      GAYNES INCLINE CUSTOM DESIGNED DROP / IMPACT MACHINE, S/N 4357,    $    500.00    $    700.00    $  1,000.00
                  W/ 1996 GAYNES 1,000 VM CONTROLS
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                  PAGE TOTAL                                                         $ 21,200.00    $ 28,800.00    $ 43,800.00
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Page 70

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

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#      ID #                              DESCRIPTION                                    FLV              FMV            FMIPV
------------------------------------------------------------------------------------------------------------------------------------
PACKAGING (CONT'D)
-----------------
------------------------------------------------------------------------------------------------------------------------------------
  492             MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:  SCALES,     $ 2,000.00        $ 3,000.00      $ 4,000.00
                  METRO CARTS, TEST EQUIPMENT INCLUDING OSCILLOSCOPES, METAL
                  LOCKERS, STRAPPING CART

  493  11085      ROCKWELL BAND SAW 14", S/N DN-8931, PROP #17006                    $   400.00        $   600.00      $   800.00

  494  11086      ASSOCIATED ENVIRONMENTAL TEST CHAMBER W/ HONEY WELL CHART          $   500.00        $ 1,000.00      $ 3,000.00
                  RECORDER, S/N 5466

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TELEPHONE ROOM
--------------
------------------------------------------------------------------------------------------------------------------------------------

  495  11087      NORTHERN TELECOMM TELEPHONE OPERATING SYSTEM, (4) MICOM 20K        $15,000.00        $25,000.00      $85,000.00
                  NETWORK NODE MULTIPLEXORS VOICE / DATA, (5) CISCO 4000 SERIES
                  ROUTERS, TSU-600  CSU / TSU FOR DATA, CRAY T-1-CSU PLUS
                  DCP-4857 INTERALIA-DIGITAL VOICE ANNOUNCER, VMX-300 VOICE MAIL
                  SYSTEM, DELTEC UPS, MERIDIAN 1 COMMON & PERIPHERAL EQUIPMENT,
                  AT&T FIBER SPLICE CABINET, LINE SWITCHES, APPROXIMATELY (2600)
                  TELEPHONE LINES / TRUNKS, (3) MERIDIAN RECEPTIONISTS STATIONS

  496  11088      LIEBERT AIR CONDITIONER W/ASSOCIATED EQUIPMENT                     $   500.00        $   700.00      $ 1,000.00

  497             MISCELLANEOUS TELEPHONE AREA EQUIPMENT INCLUDING BUT NOT           $ 1,000.00        $ 1,500.00      $ 2,000.00
                  LIMITED TO:  (2) GATEWAY P5100 PERSONAL COMPUTERS, METAL DESKS,
                  COMPUTER WORK STATIONS, FAX, PRINTER, SWIVEL CHAIRS, FILING
                  CABINETS, LAPTOP COMPUTER

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                  PAGE TOTAL                                                         $19,400.00        $31,800.00      $95,800.00
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Page 71

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

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#      ID #                              DESCRIPTION                                     FLV            FMV            FMIPV
------------------------------------------------------------------------------------------------------------------------------------
GROUND LEVEL EQUIPMENT
----------------------
------------------------------------------------------------------------------------------------------------------------------------
  498             MISCELLANEOUS GROUND LEVEL EQUIPMENT INCLUDING BUT NOT LIMITED       $ 2,000.00      $ 3,000.00      $ 4,000.00
                  TO:  OVENS, FLAMMABLE STORAGE CABINETS, LOCKERS, WORK BENCHES,
                  WASHING MACHINE, METRO CARTS, TELEVISION SETS; VARIOUS SIZES,
                  METRO CARTS, MISCELLANEOUS TEST EQUIPMENT, TRASH BINS

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WOODWORKING SHOP
---------------
------------------------------------------------------------------------------------------------------------------------------------

  499  11089      POWER TABLE SAW W/ UNIFENCE SAW GUIDE                                $   750.00      $ 1,000.00      $ 1,250.00

  500  11090      HARDINGE DV-59 TOOLROOM LATHE, PROP #12237                           $ 3,500.00      $ 4,000.00      $ 4,500.00

  501  11091      BRIDGEPORT VERTICAL MILLING MACHINE 1 1/2 HP, S/N 132000, 9" X       $ 5,000.00      $ 6,000.00      $ 7,000.00
                  42" TABLE, POWER FEED

  502  11092      ONSRUD ROUTING MACHINE, S/N 7938, PROP #13351, MODEL #W-1124         $ 4,000.00      $ 4,500.00      $ 5,000.00

  503  11093      POWERMATIC MODEL #100, S/N 89107157, PROP #8183, W/ DUST             $ 2,000.00      $ 3,000.00      $ 4,000.00
                  COLLECTION ATTACHMENT

  504  11094      POWERMATIC MODEL #1120, S/N 0496-14934001, DUST COLLECTOR            $   500.00      $   750.00      $ 1,000.00

  505  11095      BAXTER WHITNEY #77 POWER TABLE SAW                                   $   750.00      $ 1,000.00      $ 7,250.00

  506  11096      DOALL BAND SAW 16" THROAT, MODEL #1612-U, S/N 146-61667              $ 1,000.00      $ 1,500.00      $ 2,000.00

  507  11098      DELTA 6" DELUXE LONG-BED JOINTER, S/N 309042K87, MODEL #37-220       $   400.00      $   500.00      $   600.00

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                  PAGE TOTAL                                                           $19,900.00      $25,250.00      $36,600.00
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Page 72

GREENWICH INDUSTRIAL SERVICES, LLC

APPRAISAL DIVISION
ZENITH CORPORATION
GLENVIEW FACILITY #31
APRIL 1, 1998

------------------------------------------------------------------------------------------------------------------------------------
#      ID #                              DESCRIPTION                                        FLV            FMV            FMIPV
------------------------------------------------------------------------------------------------------------------------------------
WOODWORKING SHOP (CONT'D)
------------------------
------------------------------------------------------------------------------------------------------------------------------------
  508  11097      DELTA 6" DELUXE LONG-BED JOINTER, S/N 309043K87, MODEL #37-220     $      400.00     $      500.00  $      600.00

  509  11099      NIAGARA SQUARING SHEAR 36" F, 16 GAUGE                             $      500.00     $      750.00  $    1,000.00

  510             MISCELLANEOUS WOODWORKING EQUIPMENT INCLUDING BUT NOT LIMITED      $    3,000.00     $    5,000.00  $    6,000.00
                  TO:  WORK TABLES, DRILL PRESS, DOUBLE END GRINDERS, YATES #1
                  AMERICAN PLANER, SANDERS, LADDERS, SHELVING, CHAIRS, BENCH
                  VISES, FANS, HAND TOOLS

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7TH FLOOR STORAGE
-----------------
------------------------------------------------------------------------------------------------------------------------------------

  511             MISCELLANEOUS EQUIPMENT INCLUDING BUT NOT LIMITED TO:  STORAGE     $   20,000.00     $   25,000.00  $   30,000.00
                  CAGES, DOORS, CARPET CUBES, WATER FILTRATION UNITS, (2) TURRET
                  PUNCH PRESS, POWERMATIC DRILL PRESS PLANER, CHAIRS, AIR
                  COMPRESSOR, PEDESTAL FAN, TRADESHOW
                  DISPLAYS, LADDERS, METAL CARTS, MOVIN-COOL SPOT A/C UNITS, ARM
                  CHAIRS, GLASS DISPLAY CABINET, PARTITIONS, PAPER SHREDDER,
                  DESKS, PORTABLE STAIRCASE, ACID STORAGE TANK, CABINETS, LAMINAR
                  FLOW VENT HOOD, MOTORS, RIGID PIPE THREADER, WIRE DISPENSER,
                  ENGINE HOIST, OFFICE PARTITIONS, SHOP VAC'S

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                  PAGE TOTAL                                                         $   23,900.00     $   31,250.00  $   37,600.00
------------------------------------------------------------------------------------------------------------------------------------


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                  GRAND TOTAL GLENVIEW PLANT #31                                     $3,378,525.00     $4,382,275.00  $5,881,250.00
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Page 73
BROKERAGE PARTNERS