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the report of changes in investments for the University and its
affiliated corporations for the three months ended June 30, 1991. The
motion was seconded by Mrs. Sims and passed. (See ICR 1 at the end of
the Minutes.)

       Q.   Meeting Adjourne

       There being no further business to come before the Board, the
Chairman adjourned the meeting at 3:11 p.m.

                                        Respectfully submitted



                                        Edythe Jones Hayes
                                        Secretary
                                        Board of Trustees

(PR's 2, 3A, 4A, and 5A; FCR's 1, 2, 3, 4, 5, 6, and 7; and ICR 1
which follow are official parts of the Minutes of the meeting.)

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