================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549-1004 --------------------------- FORM 11-K (Mark One) /X/ Annual Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934 For the period ended December 31, 2000 Commission file number 1-9553 OR / / Transition Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934 CBS EMPLOYEE INVESTMENT FUND - -------------------------------------------------------------------------------- (Full title of the plan) VIACOM INC. - -------------------------------------------------------------------------------- (Name of issuer of the securities held pursuant to the plan) 1515 Broadway New York, New York 10036 - -------------------------------------------------------------------------------- (Address of principal executive offices) ================================================================================
CBS EMPLOYEE INVESTMENT FUND - -------------------------------------------------------------------------------- TABLE OF CONTENTS ----------------- Page ---- INDEPENDENT AUDITORS' REPORT 1 FINANCIAL STATEMENTS: Statements of Net Assets Available for Benefits As of December 31, 2000 and 1999 2 Statement of Changes in Net Assets Available for Benefits For the Year Ended December 31, 2000 3 Notes to Financial Statements 4-13 SUPPLEMENTAL SCHEDULES: Schedule of Assets Held for Investment Purposes at End of Year S1-S22 Schedule of Reportable Transactions For the Year Ended December 31, 2000 S23 All other schedules are omitted as not applicable or not required. Exhibit: I - Consent of Independent Accountants SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the persons who administer the Plan have duly caused this annual report to be signed on its behalf by the undersigned, hereunto duly authorized. CBS Employee Investment Fund Date: June 8, 2001 By: /s/ Barbara Mickowski ------------------------ Barbara Mickowski Member of the Retirement Committee
INDEPENDENT AUDITORS' REPORT To the Plan Administrator of the CBS Employee Investment Fund We have audited the accompanying statements of net assets available for benefits of the CBS Employee Investment Fund ("the Plan") as of December 31, 2000 and 1999, and the related statement of changes in net assets available for benefits for the year ended December 31, 2000. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above, present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2000 and 1999, and the changes in net assets available for benefits for the year ended December 31, 2000 in conformity with accounting principles generally accepted in the United States of America. Our audits were performed for the purpose of forming an opinion on the financial statements taken as a whole. The supplemental schedules of assets held for investment purposes at end of year and reportable transactions are presented for the purpose of additional analysis and are not a required part of the basic financial statements, but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental schedules have been subjected to the auditing procedures applied in the audit of the basic financial statements for the year ended December 31, 2000, and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. Mitchell & Titus, LLP Philadelphia, Pennsylvania June 8, 2001 1
CBS EMPLOYEE INVESTMENT FUND Statements of Net Assets Available for Benefits As of December 31, 2000 and 1999 - -------------------------------------------------------------------------------- (in thousands) 2000 1999 ---- ---- ASSETS Investments: Investments, at fair value $ 789,482 $ 947,557 Investments, at contract value 381,207 417,395 Loans to participants 16,751 17,596 ---------- ---------- Total investments 1,187,440 1,382,548 ---------- ---------- Cash -- 261 Employer's contributions receivable 991 988 Employees' contributions receivable 969 1,134 Interest and dividends receivable 80 72 Receivable from brokers for unsettled trades -- 1,966 ---------- ---------- Total assets 1,189,480 1,386,969 ---------- ---------- LIABILITIES Payable to brokers for unsettled trades 1,850 1,471 Other liabilities 522 80 ---------- ---------- Total liabilities 2,372 1,551 ---------- ---------- Net assets available for benefits $1,187,108 $1,385,418 ========== ========== The accompanying notes are an integral part of these financial statements. 2
CBS EMPLOYEE INVESTMENT FUND Statement of Changes in Net Assets Available for Benefits For the Year Ended December 31, 2000 - -------------------------------------------------------------------------------- (in thousands) ADDITIONS Contributions: Employer $ 15,726 Employee 41,607 ----------- 57,333 ----------- Investment income: Dividends 5,803 Interest 26,456 Net (depreciation) of investments (118,442) ------------ Investment income, net (86,183) ------------ Transfers from Westinghouse Savings Program 8,252 ----------- Total additions (20,598) ------------ DEDUCTIONS Benefits paid to participants 88,170 Administrative expenses 936 Transfers to Infinity Broadway Corporation Employees' 401(k) Plan 88,606 ----------- Total deductions 177,712 ----------- Net (decrease) (198,310) Net assets available for benefits, beginning of year 1,385,418 ----------- Net assets available for benefits, end of year $ 1,187,108 =========== The accompanying notes are an integral part of these financial statements. 3
CBS EMPLOYEE INVESTMENT FUND Notes to Financial Statements - -------------------------------------------------------------------------------- 1. DESCRIPTION OF THE PLAN The CBS Employee Investment Fund ("the Plan") was established by CBS Broadcasting Inc. (the "Company") (formerly CBS Inc.) a wholly owned subsidiary of CBS Corporation (the "Corporation" or "CBS") (formerly conducted business as Westinghouse Electric Corporation). On May 4, 2000, CBS was merged with and into Viacom Inc. ("Viacom"). Viacom became the sponsor of the Plan effective with the merger. The Viacom Retirement Committee serves as the plan administrator. The Plan was established to provide a convenient way for employees of the Company to save and invest for retirement. The Plan is considered a defined contribution type of profit sharing plan and, is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). Participants should refer to the Plan document for a complete description of the Plan. Plan Amendments --------------- Effective January 1, 2000, the Plan was amended to allow all active employees of the Westinghouse Savings Program, another qualified plan sponsored by the Company, to become participants of the Plan. Effective January 1, 2000, the Plan was amended to provide for certain participants of the Plan to be transferred to the Infinity Broadcasting Corporation Employees' 401(k) Plan, another qualified plan sponsored by a Viacom subsidiary. Eligibility ----------- All employees of the Company and certain of its subsidiaries in the United States, as well as U.S. citizens abroad, who are employed on a full-time basis in executive, non-union office and hourly positions, are eligible to participate in the Plan immediately. Employees working on a part-time basis are eligible to participate in the Plan upon the completion of one year of employment, if the employee worked at least 1,000 hours in that year. Other groups designated by the Company or by the terms of a collective bargaining agreement are also eligible to participate in the Plan. Investment Options ------------------ The Plan had eleven investment options, which were: Stable Value Fund, Short Term Life Cycle Fund, Medium Term Life Cycle Fund, Long Term Life Cycle Fund, S&P Index Fund, Active U.S. Equity Fund, Small Cap U.S. Equity Fund, International Equity 4
CBS EMPLOYEE INVESTMENT FUND Notes to Financial Statements - -------------------------------------------------------------------------------- 1. DESCRIPTION OF THE PLAN (continued) Investment Options (continued) ------------------ Fund, Company Stock Fund, Infinity Stock Fund and the Self-Directed Account. Pursuant to the May 4, 2000 merger between CBS and Viacom, each share of CBS common stock held by the Plan was converted into 1.085 shares of Viacom Class B Common Stock. Plan provisions and investment options have remained the same and employer contributions are now being invested in Viacom Class B Common Stock. On February 14, 2001, Infinity Broadcasting merged into Viacom. Pursuant to the merger, each share of Infinity stock held in the Infinity Stock Fund was converted into 0.592 of shares of Viacom Class B Common Stock, and the Infinity Stock Fund was merged into the Viacom Stock Fund. Employees are allowed to transfer balances among any of the fund options in increments of 1%. The Self-Directed Account allows Plan participants to establish an investment account with the trustee and gain access to an expanded number of investment options. A Self-Directed Account can be established if the participant has a Plan balance of at least $5,000; the minimum initial investment option is $2,500. Additional transfers into the Self-Directed Account must be in $1,000 increments. Fees are charged on transactions in the Self-Directed Account and are charged directly against the participant's Self-Directed Account balance. Participant Loans ----------------- Additionally, the Plan maintains a Loan Provision Fund for outstanding participant loans as discussed below. The Plan allows employees to request loans from their account without incurring a taxable event. Participants may request loans for a minimum of $1,000, but not to exceed the lesser of $50,000 (reduced by the highest outstanding balance of any loan from the Plan during the prior twelve months) or one half of the market value of the vested portions of all the participant's separate accounts on the date of the loan. No more than one loan may be made per year, and not more than two loans may be outstanding. When a participant has two loans, one of the outstanding loans must be for the purpose of purchasing a primary residence. Interest on participants' loans are based on the latest blended rate for the Stable Value Fund, rounded to the nearest quarter percentage point, as of the valuation date of the 5
CBS EMPLOYEE INVESTMENT FUND Notes to Financial Statements - -------------------------------------------------------------------------------- 1. DESCRIPTION OF THE PLAN (continued) Participant Loans (continued) ----------------- calendar quarter preceding the loan's effective date. The loans must be repaid within five years, with the exception of a loan used to acquire a primary residence, for which repayment is not to exceed fifteen years. In the event of default on a loan payment, all remaining payments are considered immediately due and payable. The defaulted portion of any outstanding loan including accrued interest is offset against the remaining balance in the participant's account. Contributions ------------- Employee participation in the Plan is voluntary. Employee contributions can be between 1% and 15% of base annual salary on a before or after-tax basis. Employees may contribute, on a before-tax basis, up to a maximum of $10,500. Participants may also make additional voluntary lump sum contributions on an after-tax basis. Employee contributions are directed by participants to any combination of funds, as designated by the employee. Allocations to the funds may be made in 1 percentage point increments. The Company may make performance based discretionary contributions to the Plan. Company matching contributions are based on employees' before-tax contributions (up to a maximum of 5% of eligible pay). In 2000 and 1999, the Company match equaled 80% and 50% of each $1.00 contributed on a before-tax basis, respectively, up to 5% of eligible pay. Employer contributions are initially directed to the Company Stock Fund. Employees can subsequently transfer the employer contribution, in increments of 1% to any of the fund options. Company contributions become vested at the rate of 33-1/3% per annum until fully vested after three years of employment. The overall maximum annual contribution to the Plan for a participant, including before-tax, after-tax and Company matching contributions is $30,000 or 25% of an employee's base pay. All employer and employee contributions are subject to specified limitations as described in ERISA and other applicable federal and state laws. 6
CBS EMPLOYEE INVESTMENT FUND Notes to Financial Statements - -------------------------------------------------------------------------------- 1. DESCRIPTION OF THE PLAN (continued) Distribution ------------ Upon termination, participants have the option of receiving the balance in their accounts in cash, monthly or annual payments over a period of time not to exceed 240 months. For terminated participants, who have an account balance in excess of $5,000, an option is available to leave their account balance in the Plan and have it distributed at any valuation date provided however, that payments commence no later than April 1, of the year following the year in which they reach age 70-1/2. Terminated participants with account balances of less than $5,000 receive a mandatory lump sum payment. Non-vested employer contributions are forfeited upon termination and are used to reduce future employer contributions and for plan expenses. At December 31, 2000 and 1999, forfeited non-vested amounts were $180,406 and $52,000, respectively. Withdrawals of a participant's after tax contributions account are permitted at any time, but are limited to two withdrawals per calendar year. Withdrawals of a participant's tax-deferred contributions are permitted after the participant has reached age 59-1/2, or before reaching such age in the event of hardship, but are limited to two withdrawals per calendar year. The Tax Reform Act of 1986 imposed a 10% penalty on certain withdrawals and distributions made before the participant reaches age 59-1/2. 2. SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting ------------------- The financial statements of the Plan have been prepared under the accrual method of accounting. Investment Valuation -------------------- An individual participant's interest in the funds of the Plan is represented by the dollar value of the participant's individual account. Investments, except for certain guaranteed annuity and investment contracts, are stated at 7
CBS EMPLOYEE INVESTMENT FUND Notes to Financial Statements - -------------------------------------------------------------------------------- 2. SIGNIFICANT ACCOUNTING POLICIES (continued) Investment Valuation (continued) -------------------- fair value. Investments in securities traded on a national securities exchange are valued at the closing sales price on the last business day of the year; securities traded in the over-the-counter market and listed securities for which no sale was reported on that date are valued at the last reported bid price; participations in pooled trust funds are stated at the Trust's beneficial interest in the aggregate fair value of assets held by the particular fund as reported by the Plan's fund manager. The carrying value of the Plan's investment in the guaranteed annuity contracts and guaranteed investment contracts is cost plus accrued interest. Investment Transactions and Investment Income --------------------------------------------- Purchases and sales of securities are reflected on a trade-date basis. Gain or loss on sales of securities is based on average cost. Dividend income is recorded on the ex-dividend date. Income from other investments is recorded as earned on an accrual basis. The net appreciation (depreciation) of investments, consists of the realized gains and losses and the unrealized appreciation (depreciation) on those investments, as reflected in the Statement of Changes in Net Assets Available for Benefits. Payment of Benefits ------------------- Benefits are recorded when paid. Use of Estimates ---------------- The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Plan Administrator to make estimates and assumptions that affect the reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Reclassifications ----------------- Certain 1999 information has been reclassified to conform with the 2000 presentation. 8
CBS EMPLOYEE INVESTMENT FUND Notes to Financial Statements - -------------------------------------------------------------------------------- 3. INVESTMENTS Investments held by the Plan at December 31, 2000 and 1999 are summarized by their fair and contract values in the following table: December 31, -------------------------- 2000 1999 ---------- ---------- (in thousands) Investments at Fair Value as Determined by Quoted Market Prices Common stocks $ 203,871(A) $ 237,792(A) Preferred stock 637 - U.S. Government securities 4 - Registered investment companies 104,506 109,124 Investments at Estimated Fair Value Common collective trusts 480,464 600,641 Investments at Contract Value Value of interest in unallocated insurance contracts 381,207 417,395 ---------- ---------- $1,170,689 $1,364,952 ========== ========== (A) Includes common stock of related parties, Viacom ($170,657) and Infinity Broadcasting ($15,563) in 2000 and CBS Corp. ($192,819) and Infinity Broadcasting ($17,851) in 1999. Investments that represent 5 percent or more of the Plan's Net Assets are listed in the following table: December 31, -------------------------- 2000 1999 ---------- ---------- (in thousands) CBS Corporation Common Stock $ - $ 192,819 Viacom Inc. Class B Common Stock 170,657 - Barclay Equity Index Fund 420,766 48,520 Vanguard Star Fund - 59,796 Monumental Life Ins Co. - 60,447 State Street Bank and Trust 65,393 66,750 9
CBS EMPLOYEE INVESTMENT FUND Notes to Financial Statements - -------------------------------------------------------------------------------- 3. INVESTMENTS (continued) The net (depreciation) in the fair value of investments is summarized as follows: Year Ended December 31, 2000 ----------------- (in thousands) Investments at Fair Value as Determined by Quoted Market Prices Common stocks $ (68,634) Registered investment companies (2,275) Investments at Estimated Fair Value Common collective trusts (47,533) ---------- $ (118,442) ========== The Plan has a number of benefit-responsive investment contracts with certain insurance companies. At December 31, 2000 and 1999, the Plan held $381 million and $417 million, respectively, of unallocated insurance contracts. These contracts are recorded at their contract values. The relevant contract and fair value information is summarized below: 2000: (in thousands) ---------------------------------------------------------------------------------------------------------- Effective Interest Contract Fair Investment Contracts Date Rate Value Value ---------------------------------------------------------------------------------------------------------- Allstate Life Ins. Co. 01/08/98 6.04% $ 48,684 $ 48,424 Allstate Life Ins. Co. 08/16/96 6.67% 10,532 10,550 Chase 06/10/99 6.66% 38,261 39,700 John Hancock Life Ins. (Fixed) 12/01/95 6.00% 7,489 7,480 John Hancock Life Inc. (Variable) 06/10/97 5.27% 9,051 8,940 John Hancock Life Ins. 03/05/98 5.84% 29,222 29,506 John Hancock Life Ins. (MBIA) 01/13/99 6.00% 23,717 23,686 Monumental Life Ins. Co. 07/01/00 6.65% 29,935 29,982 New York Life Ins. Co. 07/01/94 7.25% 4,574 4,656 New York Life Ins. Co. 09/08/94 7.35% 8,761 8,969 New York Life Ins. Co. (MBIA) 01/13/99 7.25% 14,455 14,710 Prudential (MBIA) 06/30/95 6.26% 35,120 35,204 State Street Bank & Trust 08/19/98 6.39% 65,393 66,309 UBS 11/23/99 6.89% 56,013 56,544 ---------------------------------------------------------------------------------------------------------- Total $ 381,207 $ 384,660 ========================================================================================================== 10
CBS EMPLOYEE INVESTMENT FUND Notes to Financial Statements - -------------------------------------------------------------------------------- 3. INVESTMENTS (continued) 1999: (in thousands) ---------------------------------------------------------------------------------------------------------- Effective Interest Contract Fair Investment Contracts Date Rate Value Value ---------------------------------------------------------------------------------------------------------- Allstate Life Ins. Co. 01/08/96 6.67% $ 10,536 $ 10,553 Allstate Life Ins. Co. 01/08/98 5.45% 53,061 51,256 Chase 06/01/99 5.82% 34,042 33,568 John Hancock Mutual Life 01/13/99 6.15% 41,747 40,826 John Hancock Mutual Life 01/13/99 7.00% 22,373 21,994 Monumental Life Ins. Co. 03/27/97 7.00% 60,447 58,630 New York Life Ins. Co. 07/01/94 7.45% 14,347 14,466 New York Life Ins. Co. 07/01/94 7.55% 8,481 8,563 New York Life Ins. Co. 01/13/99 7.25% 37,979 39,115 Prudential (MBIA) 06/30/95 6.64% 37,508 37,457 State Street Bank and Trust 08/19/98 5.36% 66,750 64,282 Transamerica Life Ins. Co. 03/01/99 6.12% 28,116 27,409 UBS 11/22/99 5.90% 2,008 1,996 ---------------------------------------------------------------------------------------------------------- Total $ 417,395 $ 410,115 ---------------------------------------------------------------------------------------------------------- 4. TAX STATUS The Internal Revenue Service has determined and informed the Company by a letter dated May 13, 1997, that the Plan is designed in accordance with applicable sections of the Internal Revenue Code ("IRC"). The Plan has been amended since receiving the determination letter. However, the Plan administrator and the Plan's counsel believe that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC. Viacom filed, with the IRS, an application for a new determination letter on May 1, 2001. Participants will not be subject to income tax on contributions made on their behalf by the Company nor on the plan earnings credited to their account until such time as they withdraw all or any part of their accumulated balance. 11
CBS EMPLOYEE INVESTMENT FUND Notes to Financial Statements - -------------------------------------------------------------------------------- 5. RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500 The following is a reconciliation of net assets available for benefits per the financial statements to Form 5500: December 31, ---------------------------------- 2000 1999 --------------- --------------- (in thousands) Net assets available for benefits per the financial statements $ 1,187,108 $ 1,385,418 Amounts allocated to withdrawing participants (243) (200) ------------ -------------- Net assets available for benefits per Form 5500 $ 1,186,865 $ 1,385,218 ============ ============== The following is a reconciliation of benefits paid to participants per the financial statements to Form 5500: Year Ended December 31, 2000 ----------------- (in thousands) Benefits paid to participants per the financial statements $ 88,170 Add: Amounts allocated to withdrawing participants during the year 243 Less: Amounts allocated to withdrawing participants during the previous year (200) -------- Benefits paid to participants per Form 5500 $ 88,213 ======== Amounts allocated to withdrawing participants are recorded on Form 5500 for benefit claims that have been processed and approved for payment prior to December 31 but not yet paid as of that date. 6. PLAN TERMINATION The Company has not expressed any intent to terminate the Plan. However, it is free to do so at any time, subject to the provisions of ERISA. In the event of termination, participants will become 100% vested and the net assets of the Plan shall be allocated among the participants and their respective beneficiaries of the Plan in the order provided for in ERISA. 12
CBS EMPLOYEE INVESTMENT FUND Notes to Financial Statements - -------------------------------------------------------------------------------- 7. SUBSEQUENT EVENTS Effective January 1, 2001, the King World Productions, Inc. Retirement Savings Plan was merged into the Plan. On January 2, 2001, assets for 155 participants were transferred to the Plan. The market value of the assets at that time was approximately $22,000,000. 13
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- INTEREST - BEARING CASH ----------------------- CANADIAN DOLLAR TRADING $ 406 $ 406 ------------------- -------------------- TOTAL INTEREST BEARING-CASH 406 406 ------------------- -------------------- COMMON/COLLECTIVE TRUSTS ------------------------ SPAIN FD INC COM 12,282 7,621 CASH HELD AT WELLS FARGO BANK 175 175 TBC INC POOLED EMPLOYEE FUNDS DAILY LIQUIDITY FUND 16,563,231 16,563,231 STATE STREET EAFE FUND 10,333,970 9,958,277 BARCLAY EQUITY INDEX FUND F 316,398,340 420,766,092 J P MORGAN ACTIVE US EQUITY FD 30,726,701 33,168,914 ------------------- -------------------- TOTAL COMMON/COLLECTIVE TRUSTS 374,034,699 480,464,310 ------------------- -------------------- U.S GOVT SECURITIES ------------------- U S TREASURY BILL 03/29/2001 DD 09/28/2000 4,960 4,960 ------------------- -------------------- TOTAL U.S GOVT SECURITIES 4,960 4,960 ------------------- -------------------- UNALLOCATED INSURANCE CONTRACTS ------------------------------- ALLSTATE LIFE INS CO 10,531,996 10,531,996 6.67% 04/11/2001 DD 08/16/96 ALLSTATE LIFE INS CO CONTRACT 48,684,387 48,684,387 6.04% 08/15/2003 DD 01/08/98 CHASE SYNTH #401811 38,260,607 38,260,607 6.66% 02/14/2004 DD 06/01/99 JOHN HANCOCK MBIA INSD 8379 23,715,717 23,715,717 6.00% 06/03/2001 DTD 01/13/99 JOHN HANCOCK MUTUAL LIFE #8379 45,762,328 45,762,328 5.84% - 6.00% 06/30/2001 NEW YORK LIFE GAC #GA-06563002 4,574,055 4,574,055 7.25% 04/19/2003 DD 07/01/94 NEW YORK LIFE GIC #GS-06563 8,761,421 8,761,421 7.35% 04/19/2003 NEW YORK LIFE MBIA INS#6563002 14,455,523 14,455,523 7.25% 04/19/2003 DTD 01/13/99 STATE STREET BANK & TRUST GIC 65,392,686 65,392,686 6.39% 8/19/2003 DD 8/19/98 TRANSAMERICA LIFE INS #76894 29,934,887 29,934,887 6.65% 12/31/2099 DD 03/01/99 S1
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- UBS AG CONTRACT #5034 56,013,395 56,013,395 5.90% 11/22/2005 DD 11/23/99 PRUDENTIAL GP ANTY GA-8086-211 35,119,678 35,119,678 6.39% 07/01/2001 DD 06/30/95 ------------------- -------------------- TOTAL UNALLOCATED INSURANCE CONTRACTS 381,206,680 381,206,680 ------------------- -------------------- PARTICIPANT LOANS ----------------- LOANS TO PARTICIPANTS 6.5% 0 16,750,766 ------------------- -------------------- TOTAL PARTICIPANT LOANS 0 16,750,766 ------------------- -------------------- CORPORATE STOCK-PREFERRED ------------------------- CARLTON COMMUNICATIONS PLC ADR. 23,375 22,875 ESPIRITO SANTO OVERSEAS LTD 8 1/2% NON CUM GAUR PREF SHS B 26,832 26,832 REPSOL INTL CAP LTD PFD 7.45% SER A 31,269 33,563 AS EKSPORTFINANS PFD ADR SER 8.70% 39,966 41,100 ANZ EXCH PFD TR II TR UNIT EXCH NON CUM PREF SHS 23,751 24,688 ABN AMRO CAP FDG TR I GTD TR NON-CUMULATIVE PFD SECS 7.5% 23,061 24,250 AMERICAN ANNUITY GROUP CAP TR ORIGINATED PFD SECS 9.25% 25,129 24,125 AMERICAN RE CAP GTD QUARTERLY INCOME PFD SECS 8.5% 25,066 24,938 BERGEN CAP TR I TOPRS 7.80% 11,375 15,000 EQUITY RESDTL PPTYS TR PFD SBI SER A 9.375% 24,064 24,750 FARMERS GRP CAP GTD QUARTERLY INCOME PFD SECS A% 24,878 24,875 FIRST INDL RLTY TR DEPST PFD D 20,618 20,563 GREAT-WEST LIFE & ANNTY INS CAP SUB CAP INCOME SECS 22,341 23,125 HERCULES TR TOPRS 9.42% 25,693 17,500 HOUSEHOLD CAP TR ORIGINATED PF SECS 8.70% 25,066 25,125 NEXEN INC CDN ORIGINATED PFD SECS 9.75% CORPS 26,257 23,938 NORTEL INVERSOTA S A SPONSORED ADR REPSTG PFD SER B 137 48 NOVA CHEMICALS CORP PFD SECS 9.040% 25,380 10,918 OMEGA HEALTHCARE INVS INC PFD SER A 9.25% 22,873 13,250 PLACER DOME INC CDN ORIGINATED PFD SER A 8.625% 24,126 19,375 PROLOGIS TR PFD SH BEN INT SER A 24,252 23,250 ROYAL BK SCOTLAND GRP PLC SPON ADR SER J REPSTG PREF J 25,066 25,312 SHAW COMMNS US$ CDN ORIGINATED PFD SECS SER A 25,380 22,563 SUNCOR INC US$ PFD SECS 9.125% 25,693 25,125 TRANSCANADA CAP TOPR 8.75% 51,010 50,375 UNUMPROVIDENT PFD 8.8% SER A 24,941 24,812 WESTPAC CAP TR I 8% TOPICS 24,126 24,500 ------------------- -------------------- TOTAL CORPORATE STOCK-PREFERRED 671,725 636,775 ------------------- -------------------- S2
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- REGISTERED INVESTMENT COMPANIES ------------------------------- AIM EQUITY FDS INC CONSTELLATI FD CL A SHS 2,703 2,325 ALLIANCE PREMIER GROWTH FD CL A 8,598 7,756 ALLIANCE UTIL INCOME FD INC CL C 63,355 61,885 AMERICAN CENTY CAP PORTFOLIO INC EQUITY INCOME FD INV 51,775 54,712 AMERICAN CENTY CAP PORTFOLIOS INC VALUE FD INV 50,846 52,859 AMERICAN CENTY MUT FDS ULTRA TWENTIETH CENTY ULTRA FD INV 67,632 62,892 BARON ASSET FUND SH BEN INT 179,173 175,997 BERGER INVT PORTFOLIO TR MID CAP GROWTH FD 28,540 20,103 CORPORATE HIGH YIELD FD III INC COM 49,878 35,750 DFA INVT DIMENSIONS GROUP INC U S 6-10 SMALL CO PORTFOLIO 23,565,498 21,860,346 DAVIS N Y VENTURE FD INC CL C 61,545 54,887 * DREYFUS 100% US TREAS MM FD 2,739,011 2,739,011 * DREYFUS/LAUREL PREM MIDCAP A PREMIER MIDCAP STK FD CL A 24,230 20,350 * DREYFUS/LAUREL DISC STK FD R 3,451 3,547 * DREYFUS GROWTH & VALUE FDS INC PREIMER TECHN GROWTH FD CL R 60,974 39,155 * DREYFUS TECHNOLOGY GROWTH FD 200,909 192,638 * DREYFUS NEW LEADERS FUND INC 5,690 6,282 FIDELITY INVT TR NORDIC FD 30,231 24,414 FIDELITY COMWLTH TR LARGE CAP STK FD 8,322 6,759 FIDELITY ADVISOR SER VII TECH FD T 3,629 1,874 FIDELITY CHARLES STR TR ASSET MANAGER 35,360 33,488 FIDELITY EQUITY INCOME FD SH BEN INT 1,043 1,068 FIDELITY HASTINGS STR TR GROW& INC II PORTFOLIO 3,533 3,389 FIDELITY MT VERNON STR TR GROWTH CO FD 20,526 15,457 FIDELITY MT VERNON STR TR GROWTH CO FD 60,178 43,226 FIDELITY SECS FD OTC PORTFOLIO 11,971 7,655 FIDELITY SECS FD GROWTH & INCOME PORTFOLIO 37,276 36,124 FIDELITY SECS FD BLUE CHIP GROWTH FD 18,201 16,438 FIDELITY SELECT PORTFOLIOS TECHNOLOGY PORTFOLIO 85,833 63,412 FIDELITY SELECT PORTFOLIOS HEALTH CARE PORFOLIO 6,009 7,059 FIDELITY SELECT PORTFOLIO INS PORTFOLIO 20,556 22,148 FIDELITY SELECT PORTFOLIOS DEVELOPING COMMNTS PORTFOLIO 47,397 36,360 FIDELITY SELECT PORTFOLIOS BIOTECHNOLOGY PORTFOLIO 30,131 24,815 FIDELITY SELECT PORTFOLIOS SOFTWARE & COMPUTER SVCS PORTF 7,967 4,837 FIDELITY SELECT PORTFOLIOS TELECOMMUNICATIONS PORTFOLIO 12,644 7,856 FIDELITY SELECT PORTFOLIOS BROKERAGE &INVT MGMT PORTFOLI 3 4 FIDELITY SELECT PORTFOLIOS ELE PORTFOLIO 91,068 57,997 FIDELITY SELECT PORTFOLIOS COMPUTERS PORTFOLIO 19,256 18,068 FIDELITY UN STR TR EXPORT CO FD 3,513 3,341 S3
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- FIRSTHAND FDS TECHNOLOGY VALUE FD 49,748 27,443 FRANKLIN REAL ESTATE SECS TR SH BEN INT CL I 6,807 7,621 FRANKLIN REAL ESTATE SECS TR SBI ADVISOR CL 14,368 15,742 H & Q LIFE SCIENCES INVESTORS SH BEN INT 20,031 19,410 INVESCO SECTOR FDS INC TECHNOLOGY FD CL 11 20,513 12,141 INVESCO SECTOR FDS INC TELECOMMUNICATIONS FD INV CL 8,274 6,201 INVESCO COMBINATION STK&BD FDS INC BALANCED FD 4,085 4,033 JANUS INVT FD SH BEN INT 105,120 105,696 JANUS INVT FD GROWTH & INCOME FD 7,290 6,808 JANUS INVT FD WORLDWIDE FD 220,792 188,504 JANUS INVT FD TWENTY FD 166,401 156,558 JANUS INVT FD STRATEGIC VALUE FD 8,302 8,082 JANUS INVT FD GLOBAL TECH FD 119,286 94,412 JANUS INVT FD GLOBAL LIFE SCIENCES FD 109,060 98,443 JANUS INVT FD SPL SITUATIONS FD 3,798 3,465 JANUS INVT FD OLYMPUS FD 194,677 162,797 JANUS INVT FD ENTERPRISE FD 157,780 99,454 JANUS INVT FD MERCURY FD 115,939 94,761 JANUS INVT FD BALANCED FD 4,739 4,730 KAUFMANN FD INC COM 68,726 55,235 LOOMIS SAYLES FDS MID-CAP GROWTH FD RETAIL CL 25,368 23,263 LORD ABBETT MID CAP VALUE FD INC COM 43,104 44,995 MUNDER FRAMLINGTON FDS TR HEALTHCARE FD CL A SHS 5,942 5,090 MUNDER FDS INC FUTURE TECHN FD CL A 4,930 2,209 MUNDER FDS INC NETNET FD CL A 110,525 63,821 NASDAQ 100 TR UNIT SER 1 335,456 234,959 NAVELLER PERFORMANCE FDS MID CAP GR PORTFOLIO 23,829 29,926 NAVELLER PERFORMANCE FDS AGGRESSIVE SMALL CAP PORTFOLIO 2,905 2,504 NAVELLIER PERFORMANCE FDS LARGE CAP GROWTH PORTFOLIO 8,402 7,161 NEUBERGER & BERMAN EQUITY FDS GENESIS FD 10,591 12,647 NEW PERSPECTIVE FD INC COM 31,008 29,131 OPPENHEIMER GLOBAL GROWTH & INCOME FD CL C 31,042 25,205 OPPENHEIMER CHAMPION INC FD A 25,842 20,971 OPPENHEIMER DEVELOPING MKTS FD CL C 31,190 26,193 PBHG FDS INC SELECT EQUITY FD 289,790 158,608 PBHG FDS INC TECHNOLOGY & COMMUNICATIONS FD 174,930 72,372 PBHG FDS INC STRATEGIC SMALL CO FD PBHG CL 28,827 26,210 PBHG FDS INC MED CAP VALUE FD PBHG CL 7,872 7,734 PBHG FDS INC CORE GROWTH FD 27,889 21,040 * DREYFUS S&P MIDCAP INDEX 30,769 30,367 PILGRIM MUT FDS LARGE CAP GRWOTH FD CL A 12,914 10,627 PILGRIM MUT FDS WORLDWIDE GRTH FD CL C 85,954 59,163 S4
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- PILGRIM MUT FDS INTL SMALL CAP GROWTH FD CL C 32,143 24,183 PRICE T ROWE GROWTH STK FD INC COM 37,032 32,740 PRUDENTIAL SECTOR FDS INC HEALTH SCIENCES FD CL A 2,926 2,429 PUTNAM FD FOR GROWTH & INCOME CL A SHS 20,633 21,460 PUTNAM FDS TR NEW CENTURY GROWTH FD CL A 19,323 10,423 PUTNAM GLOBAL GROWTH FD INC 28,166 19,111 PUTNAM GLOBAL GROWTH FD INC CL SHS 34,214 23,268 PUTNAM INVT FDS GROWTH OPPTYS FD CL A 29,825 22,929 PUTNAM VISTA FD INC COM 30,355 23,502 RCM EQUITY FDS INC DRESDNER RCM BIOTECHNOLOGY FD 4,004 3,649 RS INVT TR EMERGING GROWTH FD 145,384 81,594 RESERVE PRIVATE EQ SER SMALL CAP GROWTH FD CL R 14,035 10,153 ROWE T PRICE BLUE CHIP GROWTH FD INC COM 11,921 13,844 ROWE T PRICE DIVID GROWTH FD INC COM 5,805 5,833 ROWE T PRICE EQUITY INCOME FD SH BEN INT 80,279 72,821 ROWE T PRICE MID CAP GROWTH FD INC COM 12,003 14,790 ROWE T PRICE INTL FDS INC INTL DISCOVERY FD 17,279 11,945 ROWE T PRICE SCIENCE & TECH FD INC CAP STK 17,428 9,679 RYDEX SER TR OTC FD 73,606 44,703 RYDEX SER TR BIOTECHNOLOGY FD INVS CL 6,382 7,110 SCUDDER INTL FD INC GREATER EUROPE GROWTH FD 1,522 1,865 SECTOR SPDR TR SBI BASIC INDS 7,034 8,569 SELIGMAN COMMUNICATIONS & INFORMATION FD INC CL A SHS 63,779 32,953 SOUND SHORE FD INC COM 50,000 50,269 STRONG EQUITY FDS INC MID CAP GROWTH FD 26,073 23,141 STRONG ASIA PAC FD INC COM 2,098 1,307 VAN KAMPEN EQ TRII TECH FD CL C 10,100 7,556 VAN WAGONER FDS INC MICRO-CAP FD 51,999 41,581 VAN WAGONER FDS INC EMERGING GROWTH FDS 106,268 76,886 VAN WAGONER FDS INC POST VENTURE FD 24,566 16,091 VANGUARD STAR FD CONSERVATIVE GROWTH PORTFOLIO 7,190,575 7,129,764 VANGUARD STAR FD MODERATE GROWTH PORTFOLIO 47,823,317 52,671,788 VANGUARD STAR FD GROWTH PORTFOLIO 15,393,847 15,591,930 VANGUARD WORLD FD U S GROWTH PORTFOLIO 30,240 23,105 VANGUARD EQUITY INC FD GROWTH EQUITY FD 15,000 12,624 VANGUARD EXPLORER FD INC COM 12,875 9,920 VANGUARD/PRIMECAP FD INC COM 22,000 18,137 VANGUARD/WINDSOR FD INC II VANGUARD/WINDSOR II PORTFOLIO 5,081 4,486 VANGUARD INTL EQUITY INDEX FD INC PAC PORTFOLIO 274,620 271,326 WARBURG PINCUS JAPAN GROWTH FD 8,435 3,161 WASATCH ADVISORS FDS INC MICRO-CAP FD 31,092 32,039 WASHINGTON MUT INVS FD INC COM 6,690 5,932 S5
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- WIRELESS FD SHS 10,365 5,520 YACKMAN FD INC COM 57,250 53,812 ZWEIG FD INC 44,235 44,156 ------------------- -------------------- TOTAL REGISTERED INVESTMENT COMPANIES 102,365,074 104,506,100 ------------------- -------------------- CORPORATE STOCK-COMMON ---------------------- WSI INTERACTIVE MKTG INC COM 47,535 1,152 ACCLAIM ENTMT INC PAR $0.02 360 77 ACTV INC 7,905 850 ADC TELECOMMUNICATIONS INC 6,426 4,459 ADOBE SYS INC DEL COM 22,717 11,638 ADVANCED DIGITAL INFORMATION CORP 4,721 2,300 ADVANCED ENERGY INDS INC 3,923 2,250 ADVANCED MICRO DEVICES INC COM 135,751 46,645 ADVANCED OPTICS ELECTRONICS INC COM 60,255 13,378 ADVANCED VIRAL RESH CORP 6,206 4,607 AEROFLEX INC 2,298 2,883 AETHER SYSTEM INC COM 4,526 1,213 AFFYMETRIX INC OC-CAP STK 19,950 29,775 AGILENT TECHNOLOGIES INC 24,407 15,221 AIRBORNE INC COM 5,037 1,892 AIRTECH INTL GRP INC COM NEW 5,585 713 AKAMAI TECHNOLOGIES INC 85,699 15,944 ALCATEL ADR 4,737 11,188 ALCOA INC COM 9,842 10,134 ALLIED RISER COMMNS CORP COM 7,717 863 ALLSTATE CORP COM 14,971 26,138 ALZA CORP COM 7,754 17,000 AMAZON.COM INC COM 59,478 20,200 AMBI INC 8,659 987 AMDOCS LTD COM 2,128 1,988 AMERICA ONLINE INC DEL COM 2,484,884 1,431,811 AMERICAN BIOMED INC 12 - AMERICAN DIVERSIFIED GROUP INC 918 311 AMERICAN EXPRESS CO COM 9,972 8,241 AMERICAN INTL GROUP INC COM 1,001 1,774 AMERICAN SKIING CO COM 22,431 14,375 AMERITRADE HLDG CORP CL A 33,816 8,925 AMGEN INC 98,694 96,418 AMR CORP DEL COM 34,471 39,188 AMYLIN PHARMACEUTICALS INC COM 9,239 6,300 S6
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- ANALOG DEVICES INC COM 18,457 12,797 ANGLO AMERN PLATINUM CORP LTD NEW ADR 1,708 1,860 ANHEUSER BUSCH COS INC COM 663 819 ANIKA THERAPEUTICS INC COM 8,080 781 ANSWERTHINK INC 1,291 805 APPLE COMPUTER INC 140,345 46,856 APPLIED DIGITAL SOLUTIONS INC 1,240 138 APPLIED MATLS INC COM 79,956 45,443 APPLIED MICRO CIRCUITS CORP CD COM 44,823 41,351 ARC WIRELESS SOLUTIONS INC COM 1,750 1,250 ARIBA INC COM 1,138,457 1,106,028 ASCENDANT SOLUTIONS INC COM 13,534 141 AT HOME CORP SER A COM 42,133 6,964 AT&T CORP AT&T WIRELESS 35,013 24,237 AT&T CORP COM 194,343 90,043 AT&T CORP COM LIBERTY MEDIA A 535 488 ATMEL CORP COM 14,335 8,973 AURORA BIOSCIENCES CORP COM 9,639 6,287 AUTOCO COM INC 6,234 650 AUTOMATIC DATA PROCESSING INC COM 17,340 18,994 AVANEX CORP COM 7,051 3,574 AVAYA INC COM 50,548 14,571 AVON PRODS INC COM 4,069 4,835 AXA FINL INC COM 3,253 5,588 BACKWEB TECHNOLOGIES LTD COM 37,942 6,750 BALLARD PWR SYS INC 420 631 BANK OF AMERICA CORP 7,596 6,376 BARNESANDNOBLE COM INC CL A 3,925 604 BEA SYS INC COM 44,952 80,506 BED BATH & BEYOND INC COM 9,815 8,950 BELLSOUTH CORP COM 8,289 8,187 BERKSHIRE HATHAWAY INC DEL B 261,380 306,020 BERKSHIRE HATHAWAY INC DEL CLA COM 184,628 213,000 BICO INC COM 2,280 564 BIOFILTRATION SYS INC COM 8,812 4,387 BIOGEN INC COM 5,486 6,006 BIOPURE CORP CL A COM 10,981 10,600 BIOSHIELD TECHNOLOGIES INC COM 16,495 94 BIOTIME INC 824 750 BLACK BOX CORP DEL COM 12,023 12,078 BMC SOFTWARE INC COM 15,733 7,700 BOEING CO COM 4,274 7,260 S7
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- BOISE CASCADE CORP COM 2,928 3,362 BRAINTECH INC NEW COM 21,853 1,365 BRANDMAKERS INC COM 2,061 32 BRIDGE TECHNOLOGY INC COM 5,785 1,031 BRILLIANCE CHINA AUTOMOTIVE HLDGS LTD SPONS ADR 1,476 2,625 BRILLIANT DIGITAC ENTMT INC COM 1,093 137 BRISTOL MYERS SQUIBB CO COM 2,538 3,697 BROADCOM CORP CL A COM 116,768 74,928 BROADVISION INC 44,676 12,403 BROADWING INC COM 3,722 2,281 BROCADE COMMN SYS INC COM 141,073 91,812 BUY COM INC COM 2,981 65 CABLE DESIGN TECHNOLOGIES CORP COM 3,196 2,522 CABLETRON SYS INC COM 292 226 CABLEVISION SYS CORP CL A 1,040 1,699 CABOT MICROELECTRONICS CORP COM 5,046 5,194 CALPINE CORP COM 34,914 58,581 CALYPTE BIOMEDICAL CORP 523 126 CANDIE'S INC 36,502 16,270 CATERPILLAR INC 13,232 11,537 CELL PATHWAYS INC NEW COM 39,036 5,700 CELSION CORP COM 3,720 480 CENDANT CORP COM 13,268 9,625 CENTURY CASINOS INC COM 2,288 2,194 CERIDIAN CORP COM 15,159 14,793 CERTICOM CORP COM 6,657 4,299 CHASE MANHATTAN CORP NEW COM 10,935 9,542 CHECKPOINT SOFTWARE TECH 10,848 13,356 CHEVRON CORP COM 2,427 2,533 CHILDRENS BEVERAGE GROUP INC COM 171 8 CIENA CORP COM 68,532 76,131 CIGNA CORP COM 2,514 3,307 CIRCUIT SYS INC 1,028 30 CISCO SYS INC COM 1,861,752 1,594,375 CITIGROUP INC COM 155,760 232,896 CITYVIEW CORP LTD NEW SHS 550 370 CLARENT CORP DEL COM 11,339 4,525 CLARION COML HLDGS INC CL A 6,801 8,296 CLEAR CHANNEL COMMUNICATIONS INC COM 13,108 11,237 CLEARWORKS NET INC COM 46,924 11,812 CLOROX CO COM 597 355 CMGI INC 274,203 18,963 S8
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- CNET NETWORKS INC COM 7,490 2,992 COCA COLA CO COM 33,701 38,086 COCA COLA ENTERPRISES INC COM 2,190 1,900 COGNIZANT TECH SOLUTIONS CL A 16,386 14,525 COHERENT INC COM 5,546 3,250 COHESIAN TECHNOLOGIES INC COM 1,833 1,137 COMCAST CORP CL A 4,421 4,131 COMCAST CORP CL A SPL 59,045 73,062 COMDISCO INC DEL COM 20,772 6,862 COMMERCE ONE INC DEL COM 97,559 36,095 COMPAQ COMPUTER CORP COM 65,560 35,633 COMPUTER ASSOC INTL INC COM 20,095 13,650 COMPUTER TASK GROUP INC COM 1,814 1,969 COMPUTERIZED THERMAN IMAGING INC 1,400 150 COMPUWARE CORP 17,929 8,919 CONEXANT SYSTEMS INC 27,058 5,104 CONSECO INC COM 1,508 2,123 CONSYGEN INC COM 354 110 COPPER MTN NETWORK INC COM 11,556 2,953 COR THERAPEUTICS INC 7,914 10,556 COREL CORP 65,662 5,140 CORNING INC COM 222,261 107,737 CORONADO INDS INC COM 13,054 2,430 COSMOZ COM INC COM 1,130 11 COSTCO WHSL CORP NEW COM 14,432 15,975 COVAD COMMUNICATIONS GROUP INC COM 3,845 1,014 CREE INC COM 26,859 28,425 CSX CORP COM 4,463 5,187 CUMULUS MEDIA INC CL A 9,660 725 CURIS INC COM 4,175 1,775 CYBERCASH INC 505 41 CYBERSENTRY INC COM 1,198 9 CYBERSOURCE CORP DEL COM 3,267 178 CYBERTEL COMMNS CORP COM 1,387 200 CYPRESS BIOSCIENCE INC 17,089 2,212 DAIMLER CHRYSLER AG ORD 695 371 DATA DIMENSIONS COM PAR $0.001 5,652 275 DATATEC SYS INC COM 3,780 437 DAYTON MNG CORP COM NEW 424 77 DEERE & CO COM 1,013 1,374 DELL COMPUTER CORP COM 286,017 141,383 DELPHI AUTOMOTIVE SYS CORP COM 45,171 27,810 S9
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- DETOUR MAGAZINE INC COM 1,800 208 DIAMOND ENTMT CORP COM NEW 1,062 80 DIEDRICH COFFEE INC 5,311 562 DIGITAL IMPACT INC DEL COM 2,348 1,927 DIGITAL IS INC DEL COM 504 487 DIGITAL LIGHTWAVE INC COM 1,761 729 DIMETHAID RESH INC COM 5,740 4,115 DIODES INC 10,069 10,375 DISNEY WALT CO COM 188,582 161,226 DISNEY WALT INTERNET GROUP COM 20,761 3,019 DME INTERACTIVE HLDGS INC COM 19,004 2,190 DOUBLECLICK INC COM 14,024 5,236 DOVER DOWNS ENTMT INC 5,349 5,594 DOW CHEM CO COM 2,765 3,662 DU PONT E I DE NEMOURS & CO COM 9,798 7,440 DUKE ENERGY CORP COM 129,704 132,137 DUPONT PHOTOMASKS INC 4,944 3,963 DYNEGY INC NEW CL A 21,620 28,031 E DIGITAL CORP COM 19,574 4,436 E TRADE GROUP INC 42,441 13,828 EARTHLINK INC COM 15,779 5,534 EARTHWEB INC COM 2,008 1,106 EASTMAN KODAK CO COM 12,578 10,159 EBAY INC COM 71,074 29,766 ECHELON CORP OC COM 1,436 931 ECHOSTAR COMMUNICATIONS CORP NEW CL A 12,177 5,960 ECONNECT COM 26,980 1,217 EGLOBE INC COM NEW 2,480 3 EL PASO ENERGY CORP DEL COM 3,005 3,581 ELAN PLC ADR 7,138 7,584 ELCOM INTL INC 25,242 11,939 ELECTRONICS FOR IMAGING INC 2,083 1,115 ELOT INC COM 8,022 739 EMACHNES INC COM 1,535 131 EMC CORP MASS 1,314,320 1,440,523 EMULEX CORP NEW 14,730 23,981 EMUSIC COM INC COM 17,146 2,529 ENERGIZER HLDGS INC COM 488 427 ENERGY CONVERSION DEVICES INC 9,130 6,480 ENRON CORP COM 24,902 33,250 ENTERTAINMENT BLVD INC COM 20,745 141 ENTREMED INC COM 5,079 2,536 S10
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- ENTROPIN INC COM 740 450 ENZON INC COM 30,087 40,402 EPRESENCE INC COM 2,009 434 ERICSSON L M TEL CO ADR CL B SEK 10 57,450 30,642 ESOFT INC COM 4,061 469 ETOYS INC COM 43,053 1,265 EURBID COM INC COM 11 5 EXCALIBUR TECHNOLOGIES CORP 6,418 4,252 EXODUS COMMUNICATIONS INC COM 145,651 62,120 EXPEDIA INC CL A SHS 2,345 1,434 EXTREME NETWORKS INC COM 938 783 EXXON MOBIL CORP 9,780 10,432 FANNIE MAE 1,940 2,602 FASTCOMM COMMUNICATIONS CORP 6,136 594 FDN INC COM 71,329 1,339 FEDERATED DEPT STORES INC DEL COM 2,696 3,500 FIDELITY SELECT PORTFOLIOS UTILS PORTFOLIO 5,910 4,549 FIRST AMERN SCIENTIFIC COM 28,133 5,358 FIRST UN CORP COM 4,156 2,781 FIRST YEARS INC 1,914 1,370 FLEET BOSTON FINL CORP COM 3,663 3,756 FLEXTRONICS INTERNATIONAL LTD 6,405 5,700 FONAR CORP 19,467 13,125 FONIX CORP DEL COM 22,175 4,714 FORD MTR CO DEL COM PAR $0.01 7,049 6,375 FOREST LABS INC CL A COM 13,403 13,287 FOUNDRY NETWORKS INC COM 102,093 22,500 FREEMARKETS INC COM 2,472 665 FUEL CELL ENERGY INC COM 7,196 13,712 GAP INC COM 1,000 918 GEMSTAR-TV GUIDE INTL INC 18,836 11,485 GENAISSANCE PHARMACEUTICALS IN COM 2,343 2,700 GENENTECH INC 5,612 4,075 GENERAL AMERN INVS INC 3,771 3,600 GENERAL ELEC CO COM 448,986 387,598 GENERAL MTRS CORP COM 91,598 58,018 GENESIS MICROCHIP INC COM 2,031 925 GENOME THERAPEUTICS CORP 26,278 8,363 GENTA INC COM NEW 8,837 9,600 GENZYME CORP MOLECULAR ONCOLOGY DIV COM 13,031 8,269 GEORGIA PAC CORP COM 2,772 3,112 S11
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- GERON CORP 87,307 27,324 GILEAD SCIENCES INC COM 10,513 16,587 GILLETTE CO COM 13,613 12,210 GLAXOSMITHKLINE PLC ADS 13,069 12,746 GLOBAL CROSSING LTD 237,069 102,477 GLOBAL TECHNOVATIONS INC COM 4,434 1,875 GLOBIX CORP-COM 49,742 6,875 GOODYEAR TIRE & RUBR CO COM 1,474 621 GREEN MTN COFFEE INC COM 2,785 5,000 GRIC COMMUNICATIONS INC COM 5,083 242 HANDSPRING INC COM 12,271 8,761 HARKEN ENERGY CORP COM NEW 1,166 337 HARMONIC INC COM 6,071 2,133 HASBRO INC COM 6,344 2,125 HASTINGS ENTMT INC COM 426 208 HAUPPAGUE DIGITAL INC 500 57 HEALTH CARE PPTY INVS INC COM 39,615 35,850 HEARME COM 88 6 HEMISPHERX BIOPHARMA INC 260 190 HEWLETT PACKARD CO COM 13,914 8,395 HILTON HOTELS CORP COM 493 452 HOME DEPOT INC COM 113,721 121,985 HOMESTAKE MNG CO COM 2,604 1,256 HONEYWELL INTL INC COM 2,523 2,365 HRPT PPTYS TR COM SBI 38,443 18,906 HUFFY CORP COM 8,552 6,045 HUMAN GENOME SCIENCES INC COM 6,656 5,545 I SECTOR CORP COM 1,850 800 IBEAM BROADCASTING CORP COM 7,246 1,061 IBM CORP COM 273,248 158,578 ICOS CORP 5,010 5,194 IDENTIX INC 5,847 4,294 II-VI INC 1,776 1,245 ILEX ONCOLOGY INC COM 1,493 1,316 ILLINOIS SUPERCONDUCTOR CORP 15,799 1,257 IMAGING DIAGNOSTIC SYS INC COM 19,706 5,629 IMAGING TECHNOLOGIES CORP COM 2,956 70 IMATRON INC 6,905 3,351 IMMUNEX CORP NEW 8,248 4,875 IMMUNOMEDICS INC 3,433 3,225 IMPALA PLATINUM HLDGS LTD ADR 1,453 1,529 IMPCO TECHNOLOGIES INC COM 26,941 12,000 S12
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- * INFINITY BROADCASTING NEW CL A 18,212,917 15,562,752 INFORMIX CORP COM 23,228 4,676 INFOSPACE INC COM 55,560 19,067 INKTOMI CORP COM 19,931 3,378 INSIGHT HEALTH SVCS CORP 17,259 11,550 INTEL CORP CALIF COM 434,808 331,353 INTELLICALL INC 4,815 3,000 INTELLICORP 158 56 INTERACTIVE TELESIS INC COM NEW 22,319 5,275 INTERNATIONAL FIBERCOM INC COM 8,498 1,689 INTERNATIONAL INTERNET INC COM 1,000 952 INTERNATIONAL PAPER CO COM 3,715 4,081 INTERNATIONAL RECTIFIER CORP COM 2,008 1,500 INTERNATIONAL SPEEDWAY CORP CL A 1,821 1,140 INTERNET CAP GROUP INC COM 82,432 8,448 INTERNET SOLUTIONS FOR BUSINES INC COM 3,590 25 INTUITIVE SURGICAL INC COM 3,509 1,700 IRIDIUM WORLD COMM INC COM 4,552 105 ISIS PHARMACEUTICALS 147 106 ISONICS CORP COM 300 275 IVAX CORP 20,231 21,065 IVILLAGE INC COM 16,441 637 IVOICE COM INC COM 670 17 I2 TECHNOLOGIES INC 16,907 13,594 JACOBSON RESONANCE ENTERPRISES INC COM 75,519 5,807 JDS UNIPHASE CORP COM 1,002,530 400,742 JOHNSON & JOHNSON COM 9,910 11,587 JUNIPER NETWORKS INC COM 63,133 63,662 KANAKARIS COMMNS INC COM 3,009 101 KEITHLEY INSTRS INC COM 8,369 5,813 KELLYS COFFEE GROUP INC COM 1,012 480 KEMET CORP COM 3,585 1,512 KERAVISION INC 27,685 371 KEY ENERGY SERVICES INC COM 130,569 83,500 KIDSTORYSPLUS.COM INC COM 6,356 155 KIMBERLY CLARK CORP COM 4,002 4,736 KINDER MORGAN INC KANS COM 10,476 41,750 KNIGHT TRADING GROUP INC COM 200,484 84,183 KOPIN CORP 71,959 30,953 KOREA THRUNET CO LTD CL A 5,178 332 KPN QWEST NV 5,330 2,329 KRISPY KREME DOUGHNUTS INC.COM 4,035 8,300 S13
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- KYOCERA CORP ADR 2,635 2,124 L-3 COMMUNICATIONS HLDGS INC COM 924 1,540 LAS VEGAS ENTMT NTWK NEW COM 2,161 4,453 LATTICE SEMICONDUCTOR CORP COM 2,581 1,838 LERNOUT & HAUSPIE SPEECH PRO 1,371 44 LIBERATE TECHNOLOGIES COM 724 409 LIBERTY ALL STAR EQ SH BEN INT 12,764 12,375 LIBERTY SATELLITE & TECHNOLOGY INC 993 237 LIFE PT INC COM 10,979 6,656 LILLY ELI & CO COM 5,741 6,514 LINCOLN NATL CORP IND COM 1,631 2,318 LINEAR TECHNOLOGY CORP COM 10,595 8,232 LOCH HARRIS INC COM NEW 16,357 460 LOEWS CINEPLEX ENTMT CORP 3,749 657 LOGIO INC COM 316 22 LONMIN PUB LTD CO SPON ADR 1,505 1,428 LORAL SPACE & COMMUNICATIONS N Y COM 6,751 1,434 LOUDEYE TECHNOLOGIES INC COM 5,585 172 LSI INDS INC OHIO COM 4,988 4,292 LSI LOGIC CORP COM 33,311 15,381 LUCENT TECHNOLOGIES INC COM 945,774 270,597 LYNX THERAPEUTICS INC COM NEW 6,262 1,800 M & T BK CORP COM 5,386 7,480 MARCHFIRST INC COM 4,259 150 MARCONI PLC SPONSORED ADR 16,449 20,563 MARKETWATCH COM INC 2,971 300 MARTHA STEWART LIVING 380 201 MATRITECH INC COM 10,562 4,475 MBNA CORP COM 2,802 2,770 MCDATA CORP CL B 3,210 1,752 MEDIA 100 INC COM 8,864 1,281 MEDIMMUNE INC COM 2,350 1,860 MEDITRUST PAIRED CTF NEW 1 COM MEDITRUST CORP & 1 COM 39,916 7,687 MEDTRONIC INC COM 2,194 2,958 MELLON FINL CORP COM 3,116 4,623 MERCK & CO INC COM 9,854 12,391 MERCURY INTERACTIVE CORP 7,631 6,317 MERRILL LYNCH & CO INC 64,033 132,284 METRICOM INC 23,132 6,490 METROMEDIA FIBER NETWORK CL A 81,249 44,793 MICREL INC 2,847 1,684 MICRON TECHNOLOGY INC COM 16,738 17,750 S14
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- MICROSOFT CORP COM 1,348,467 759,496 MICROSTRATEGY INC CL A 54,697 9,690 MICROWARE SYS CORP 588 438 MINNESOTA MNG & MFG CO COM 5,866 8,074 MOLEX INC COM 3,149 2,130 MOMENTUM BUSINESS APPLICATIONS A 536 337 MONACO COACH CORP COM 9,188 8,844 MONTANA PWR CO COM 3,946 2,075 MORGAN J P & CO INC COM 14,456 18,536 MOTOROLA INC COM 138,997 81,061 MPHASE TECHNOLOGIES INC COM 41,457 5,763 MP3 COM INC COM 1,558 539 MRV COMMUNICATIONS INC CALIF 15,166 5,350 MTR GAMING GROUP INC COM 711 950 MULTEX SYS INC COM 3,119 1,656 MUSICMAKER.COM INC COM NEW 940 28 MYRIAD GENETICS INC 459 828 MYTURN COM COM 1,025 94 NATIONAL SCIENTIFIC CORP COM 26,026 11,560 NATIONAL SEMICONDUCTOR CORP COM 1,676 1,006 NATIONWIDE HEALTH PPTYS INC COM 40,668 25,750 NAVARRE CORP 5,605 547 NBC INTERNET INC CL A 12,336 571 NCR CORP NEW 6,563 7,025 NCT GROUP INC COM 1,431 188 NEOFORMA COM INC COM 1,717 28 NEORX CORP COM PAR $0.02 1,473 263 NETBANK INC COM 1,626 394 NETMANAGE INC COM 8,250 2,813 NETWORK ACCESS SOLUTIONS CORP COM 1,941 34 NETWORK APPLIANCE INC COM 152,569 128,375 NETZERO INC COM 2,839 206 NET2PHONE INC COM 20,456 2,950 NEW ERA OF NETWORKS INC COM 12,475 1,175 NEW VISUAL ENTMT INC COM NEW 121 150 NEWELL RUBBERMAID INC 1,024 865 NEXELL THERAPEUTICS INC COM NEW 26,906 3,370 NEXMED INC COM 2,753 4,000 NEXTEL COMMUNICATIONS INC CL A 15,994 6,188 NIKE INC CL B COM 481 614 NIPPON TELEG & TEL CORP ADR SPONSORED 6,446 3,569 NOKIA CORP SPON ADR COM 394,088 350,610 S15
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- NORDSTROM INC WASH COM 3,170 3,638 NORSTAR GROUP INC COM NEW 2,625 188 NORTEL NETWORKS CORP NEW COM 213,636 145,339 NORTHEAST UTILS COM 17,923 24,250 NORTHWEST AIRLS CORP CL A 4,510 3,555 NORTRAN PHARMACEUTICALS INC COM 11,970 3,419 NOVELL INC 10,787 7,557 NOVELLUS SYS INC 2,705 5,391 NU HORIZONS ELECTRS CORP 1,963 1,341 NUANCE COMMUNICATIONS 11,838 6,469 NUMEREX CORP N Y COM 2,251 1,650 NX NETWORKS INC COM 13,881 938 N2H2 COM 99,247 2,188 OCEAN ENERGY INC TEX COM 6,511 8,688 OFFICIAL PMTS CORP COM 4,292 1,031 OMEGA HEALTHCARE INVS INC COM 25,881 3,750 OMNISKY CORP COM 2,087 815 ON2.COM INC COM 1,065 116 OPENTV CORP CL A 19,199 4,856 OPENWAVE SYS INC 13,288 6,951 ORACLE CORPORATION COM 325,724 313,817 ORASURE TECHNOLOGIES INC COM 3,810 4,125 ORTHODONTIC CTRS AMER INC COM 7,574 9,531 OTTER TAIL PWR CO 1,075 1,388 OXIS INTL INC COM NEW 3,308 375 P COM INC COM 1,015 613 PACE HEALTH MANAGEMENT SYSTEM 1,880 280 PACIFIC AEROSPACE&ELECTRONICS COM 4,957 406 PACIFIC CNTRY CYBERWORKS LTD SHS 14,299 14,299 PACIFIC GULF PPTYS INC 50,179 13,708 PALM INC COM 86,506 71,914 PANAMERICAN BANCORP COM 601 21 PARAMETRIC TECHNOLOGY CORP COM 1,128 1,344 PARK PL ENTMT CORP COM 11,919 9,550 PARTY CITY CORP 1,212 314 PATRIOT SCIENTIFIC CORP 3,719 510 PAXAR CORP 968 1,019 PAXSON COMMUNICATIONS CORP 1,200 1,194 PAYCHEX INC COM 18,581 34,038 PE CORP COM CELERA GENOMICS 4,324 4,324 PEAPOD INC COM 10,520 781 PEOPLESOFT INC COM 32,903 44,625 S16
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- PEPSI BOTTLING GROUP INC COM 537 1,194 PEREGRINE PHARMACEUTICALS INC COM 132,431 23,041 PEREGRINE SYS INC COM 9,804 4,938 PERLE SYS LTD 1,033 69 PETS COM INC COM 13,022 139 PFIZER INC COM STK USD0.05 187,035 219,996 PHARMACIA CORP COM 35,521 43,310 PHARMOS CORP NEW 679 80 PHILIP MORRIS COS INC COM 1,920 2,332 PHOTON DYNAMICS INC COM 13,453 4,838 PIER 1 IMPORTS INC COM 3,155 3,310 PIXTECH INC 7,457 2,188 PLUG PWR INC COM 12,389 2,938 PLUM CREEK TIMBER CO INC COM 58,428 52,000 PMC SIERRA INC 57,084 38,841 POLAROID CORP COM 2,969 1,163 POWER-ONE INC COM 20,998 7,863 PRANDIUM INC COM 5,041 94 PRICELINE COM INC COM 6,507 739 PRIMUS TELECOMMUNICATIONS GROUP INC COM 9,021 463 PRINCETON VIDEO IMAGE INC COM 32,144 6,971 PRIORITY HEALTHCARE CORP B 2,735 4,081 PRO NET LINK CORP 22,954 2,880 PROCTER & GAMBLE CO COM 5,947 7,844 PRODIGY COMMUNS CORP CL A 4,433 150 PROXIM INC COM 3,004 2,752 PSINET INC 25,469 805 PUMATECH INC 25,712 2,743 PURCHASEPRO COM INC COM 6,922 2,100 PURE H2O BIO TECHNOLOGIES INC COM 165 94 PW EAGLE INC COM 15,162 7,875 QIAO XING UNIVERSAL TELE INC 12,244 1,265 QLOGIC CORP COM 24,963 27,874 QUALCOMM INC 490,011 392,117 QUANTA SVCS INC COM 32,450 33,797 QUANTUM CORP DSSG COM 4,916 5,300 QUICKLOGIC CORP CDT-COM 3,409 694 QWEST COMMUNICATIONS INTL INC COM 51,860 55,754 QXL RICARDO PLC SPONS ADR 17,333 1,050 RADIANT SYS INC COM 8,985 3,075 RADIO ONE INC CL A 3,353 1,603 RADIO ONE INC CL D NON VTG 3,000 2,200 S17
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- RADIO UNICA COMMNS CORP COM 12,216 5,625 RAMBUS INC DEL COM 48,355 44,976 RAMTRON INTL CORP COM NEW 5,039 1,575 RAZORFISH INC CL A COM 5,361 3,253 RCN CORP COM 2,384 631 REAL NETWORKS INC COM 45,791 7,732 RED HAT INC COM 10,177 2,663 REDBACK NETWORKS INC COM 20,479 5,986 RELIANCE GROUP HLDGS INC COM 4,473 90 RELIANT ENERGY INC 7,993 8,663 REMEDY CORP COM 6,829 4,969 REPLIGEN CORP 15,036 6,514 RESEARCH FRONTIERS INC 8,190 13,125 RESEARCH IN MOTION LTD COM 9,784 8,000 RF MICRO DEVICES INC COM 32,802 32,925 RITE AID CORP COM 24,755 10,462 ROBINSON NUGENT INC 3,835 4,588 ROGUE WAVE SOFTWARE INC COM 27,456 10,088 RSL COMMUNCIATIONS LTD CL A 5,368 34 S & P 500 DEPOSITORY RECEIPT 67,682 65,594 SAFEGUARD SCIENTIFICS INC 29,601 4,306 SAGENT TECHNOLOGY INC OC-COM 8,820 550 SANCHEZ COMPUTER ASSOCS INC COM 3,657 1,650 SANDISK CORP 6,809 1,388 SANMINA CORP COM 3,090 3,831 SANTA CRUZ OPERATION INC 2,873 128 SAP AKIENGESELLSCHAFT SPONS ADR 4,288 3,369 SAVE THE WORLD AIR INC COM 37,403 625 SBC COMMUNICATIONS INC COM 10,343 11,699 SCHAWK INC CL A 12,017 10,500 SCHERING PLOUGH CORP COM 1,037 1,419 SCHWAB CHARLES CORP NEW COM 11,855 10,499 SCIENTIFIC ATLANTA INC 126,738 116,248 SCIOS INC 19,995 21,448 SDL INC NEW CUSIP 46612J101 360,763 208,796 SEAGATE TECHNOLOGY ESCROW 0 0 SEARS ROEBUCK & CO COM 1,540 1,286 SENIOR HSG PPTYS TR SH BEN INT 3,922 2,328 SHEFFIELD PHARMACEUTICALS INC 1,087 938 SIDEWARE SYS INC COM 26,516 1,248 SIEBEL SYS INC 29,829 22,316 SILICON IMAGE INC COM 1,741 718 S18
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- SILICON STORAGE TECHNOLOGYINC 23,369 10,478 SIRIUS SATELLITE RADIO INC COM 4,141 2,605 SMITH MICRO SOFTWARE INC 1,282 181 SOLECTRON CORP 1,042 712 SOLOMON ALLIANCE GROUP INC COM 2,014 172 SONY CORP AMERN SH NEW ADR 4,481 2,224 SOURCE MEDIA INC COM NEW 221 5 SOUTH ATLANTIC RES LTD COM 7,502 3,287 SOUTHERN CO COM 12,594 16,625 SOVEREIGN BANCORP INC COM 7,560 8,125 SPATIALIZER AUDIO LABS INC COM 7,974 920 SPECTRUM OIL CORP COM NEW 4,881 2,277 SPEECHWORKS INTL INC COM 3,260 1,570 SPEEDWAY MOTORSPORTS INC COM 2,334 1,968 SPORTSLINE.COM INC COM 5,559 1,333 ST MARY LD & EXPL CO 4,010 5,863 STARBASE CORP 1,031 469 STARNET COMMUNICATIONS INTL INC COM 1,988 59 STARUNI CORP COM 11,760 2,240 STARWOOD HOTELS & RESORTS PAIRED CTF 234 212 STEMCELLS INC COM 1,097 250 STMICROELECTRONICS N V SHS N Y REGISTRY 2,560 1,927 STORAGE NETWORKS INC OC COM 2,028 2,109 STRATEGIC DISTR INC 5,832 875 STRUTHERS INC COM NEW 925 406 SUN MICROSYSTEMS INC COM 375,928 347,350 SUNGARD DATA SYS INC COM 6,631 9,425 SUNRISE TECHNOLOGIES INTL INC 11,508 4,453 SUPERCONDUCTOR TECHNOLOGIES 2,793 181 SYCAMORE NETWORKS INC COM 20,812 7,450 SYNOPSYS INC COM 1,309 1,423 SYNTROLEUM CORP COM 8,525 6,800 TALBOTS INC 13,383 8,669 TARGET CORP COM 8,161 8,708 TARGETED GENETICS CORP 2,197 669 TCSI CORP 2,795 619 TECH DATA CORP COM 5,016 5,409 TECHNITROL INC 34,438 20,892 TEGAL CORP COM 2,102 284 TEKELEC COM 5,272 3,000 TELCOM SEMICONDUCTOR INC 9,330 4,550 TELEPHONE & DATA SYS INC COM 10,572 9,000 S19
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- TELESERVICES INTERNET GRP INC COM NEW 6,375 978 TELIGENT INC CL A 1,953 775 TELLABS INC COM 19,465 16,950 TENET HEALTHCARE CORP COM 6,097 6,666 TENKE MNG CORP COM NEW 4,033 2,500 TERRA NETWORKS SA SPONS ADR 8,046 5,429 TEVA PHARMACEUTICAL INDS ADR LTD COM 10,878 10,988 TEXACO INC COM 1,698 1,864 TEXAS INSTRS INC COM 53,525 53,250 THERAGENICS CORP 568 500 TIME WARNER INC COM 19,037 14,053 TIVO INC COM 7,269 935 TOLLGRADE COMMUNICATION INC 9,284 7,300 TOMMY HILFIGER CORP COM 2,378 981 TOPJOBS NET.PLC SPON ADR 3,662 269 TOPPS INC 1,882 1,746 TOTAL ENTMT INC COM 1,328 31 TRANSMETA CORP DEL COM 6,119 3,220 TRANSWITCH CORP 9,956 9,781 TRIBUNE CO NEW COM 581 634 TRIMERIS INC COM 14,174 16,463 TRIPATH IMAGING INC COM 12,790 8,750 TRIQUINT SEMICONDUCTOR INC COM 15,698 20,533 TTI TEAM TELECOM INTL LTD 9,681 9,000 TUMBLEWEED COMMN CORP COM 6,675 5,133 TURNSTONE SYS INC COM 5,485 595 TYCO INTL LTD NEW COM 67,730 94,029 U S INTERACTIVE INC COM 4,838 20 UNAPIX ENTMT INC 3,874 32 UNIGENE LABS INC 275 184 UNION PAC CORP COM 479 581 UNITED ENERGY CORP NEV COM NEW 9,548 3,675 UNITED HEALTH GROUP INC COM 12,667 14,730 UNITED PARCEL SVC INC CL B 19,622 17,566 UNIVERSAL HLTH RLTY SH BEN INT 60,001 59,625 UNIVISION COMMUNICATIONS INC CL A 13,329 15,474 UROMED CORP COM NEW 487 475 USA NETWORKS INC COM 12,551 11,663 USA TALK COM INC COM 35,194 30 USA VIDEO INTERACTIVE CORP NEW 128,097 11,500 USABANCSHARES.COM INC COM 571 81 VA LINUX SYS INC COM 594 195 S20
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- VALERO ENERGY CORP COM NEW COM 33,613 37,188 VALUEVISION INTL INC CL A 5,604 1,894 VAN KAMPEN FOCUS PORTFOLIOS 945 1,601 VARI-L INC 4,640 2,400 VASOMEDICAL INC 19,018 6,563 VENCOR INC NEW 1,911 114 VENTRO CORP COM 9,477 153 VERIDIEN CORP 750 313 VERISIGN INC COM 26,282 10,164 VERITAS SOFTWARE CO COM 1,663 1,313 VERIZON COMMUNICATIONS COM 19,889 18,546 VERMONT TEDDY BEAR INC COM 1,971 1,938 VERSO TECHNOLOGIES INC COM 6,260 1,500 VERTEL CORP COM 16,440 1,406 VERTICAL COMPUTER SYS INC COM NEW 8,184 239 VERTICALNET INC OC-COM 7,923 1,058 VESTCOM INTL INC COM 825 544 VIA NET WKS INC COM 2,200 191 * VIACOM INC CL B COM 154,615,515 170,653,726 * VIACOM INC COM 4,655 164,674 VIATEL INC 15,217 1,116 VICAL INC COM 5,059 1,850 VICOR CORP COM 792 456 VIGNETTE CORP COM 6,275 3,330 VIROPHARMA INC COM 7,873 7,242 VIRTUAL SELLARS COM INC 18,688 5,045 VIRTUAL TECH CORP COM 251,736 1,920 VISHAY INTERTECHNOLOGY INC COM 94,553 45,375 VISTEON CORP COM 34 23 VISX INC DEL 1,700 261 VITESSE SEMICONDUCTOR CORP COM 52,633 35,953 VOICE STREAM WIRELESS CORP COM 15,047 10,063 VSOURCE INC COM 35,763 6,270 WAL MART STORES INC COM 64,899 62,124 WALGREEN CO 54,132 84,043 WELLS FARGO & CO NEW COM 3,734 5,569 WESTERN DIGITAL CORP DEL COM 4,906 1,706 WHATSFORFREE TECHNOLOGIES INC COM 1,793 25 WILD OATS MKTS INC 1,224 425 WILLIAMS COMMUNICATIONS GROUP 7,058 2,350 WINFIELD CAP CORP COM 5,262 352 WINK COMMUNICATIONS INC COM 5,640 1,164 S21
CBS EMPLOYEE INVESTMENT FUND Schedule of Assets Held for Investment Purposes at End of Year December 31, 2000 - -------------------------------------------------------------------------------- Identity of Issue, Borrower, or Similar Party Current Description of Investment Cost Value ------------------------------------------------------------------ ------------------ -------------------- WINNEBAGO INDS INC 13,534 17,563 WINSTAR COMMUNICATIONS INC COM 3,176 2,396 WMS INDS INC COM 4,562 5,373 WORLD WRESTLING FEDN ENTMT INC CL A 6,972 4,800 WORLDCOM INC GA NEW COM 256,558 85,106 WORLDS.COM INC COM 5,091 144 XCEED INC COM 534 244 XCELERA INC COM 230,678 27,221 XEROX CORP COM 144,369 31,418 XILINX INC COM 12,959 15,221 XO COMMUNICATIONS INC CL A 9,234 3,563 XOMA LTD COM 1,736 2,340 XYBERNAUT CORP COM 5,382 793 YAHOO INC 207,877 72,391 YORK GROUP INC 366 64 ZAPWORLD COM 4,605 2,531 1ST MIRACLE GROUP INC COM 9,271 1,514 2THEMART COM INC COM 37,861 23 21ST CENTY TECHNOLOGIES INC COM 4,141 426 3COM CORP COM 14,215 8,415 724 SOLUTIONS INC COM 56,776 18,740 ------------------- -------------------- TOTAL CORPORATE STOCK-COMMON 199,835,349 203,871,405 ------------------- -------------------- TOTAL INVESTMENTS 1,058,118,893 1,187,441,402 =================== ==================== *Represents a party-in-interest S22
CBS EMPLOYEE INVESTMENT FUND Schedule of Reportable Transactions For the Year Ended December 31, 2000 - -------------------------------------------------------------------------------- Identity of Party Involved Purchase Selling Cost of Description of Asset Price Price Asset Net Gain - ------------------------------------------- ------------ ---------- ---------- ----------- INFINITY BROADCASTING CLASS A COMMON STOCK $ 73,296,787 $ - $ - $ - INFINITY BROADCASTING CLASS A COMMON STOCK - 71,447,624 69,390,361 2,057,263 VIACOM, INC. CLASS B COMMON STOCK 67,890,973 - - - VIACOM, INC. CLASS B COMMON STOCK - 38,385,961 22,024,277 16,361,684 TBC INC. POOLED EMPLOYEE FUNDS DAILY LIQUIDITY FUND 403,445,146 - - - TBC INC. POOLED EMPLOYEE FUNDS DAILY LIQUIDITY FUND - 405,270,954 405,270,954 - JOHN HANCOCK MUTUAL LIFE # 8379 6.150% 06/30/2001 53,446,367 - - - JOHN HANCOCK MUTUAL LIFE # 8379 6.150% 06/30/2001 - 49,431,544 49,431,544 - BARCLAY EQUITY INDEX FUND 25,255,314 - - - BARCLAY EQUITY INDEX FUND - 93,488,697 64,203,244 29,285,453 S23
EXHIBIT I CONSENT OF INDEPENDENT ACCOUNTANTS ---------------------------------- We hereby consent to the incorporation by reference in the registration statement (No. 333-36440, No. 333-88613 and No. 333-55346) on Form S-8 of Viacom Inc. of our report dated June 8, 2001, included in the Annual Report of the CBS Employee Investment Fund on Form 11-K for the year ended December 31, 2000. Mitchell & Titus, LLP Philadelphia, Pennsylvania June 26, 2001