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       Trend of Yearling Sales, 1978 thru 1993 inclusive
                         (North America)
       %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%

Year      Yearlings Sold   Total Sales (millions)   Avg. (thousands)
=====================================================================         
1978          5,777                $114                  $19.8

1979          6,326                 156                   24.7

1980          7,079                 210                   29.6

1981          7,949                 279                   35.1

1982          8,174                 269                   32.9

1983          8,705                 359                   41.2

1984          9,268                 383                   41.3

1985          8,420                 347                   41.3

1986          8,206                 281                   34.2

1987          8,845                 313                   35.4

1988          9,083                 283                   31.2

1989          8,564                 281                   32.9

1990          8,760                 257                   29.3

1991          8,154                 213                   26.2

1992          7,908                 180                   22.7

1993          7,413                 188                   25.4
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