Page
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2
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3
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4
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5-11
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12
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13
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14
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Exhibit:
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2005
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2006
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|||
ASSETS:
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||||
Investments,
at fair value:
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|
|
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AVX
Corporation Common Stock
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$
|
2,905,644
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$
|
2,881,905
|
|
Kyocera
Corporation American Depository Shares
|
|
2,275,163
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2,800,014
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||
Money
Market Fund
|
|
3,059,524
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3,594,493
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||
Mutual
Funds
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5,738,901
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9,637,107
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||
Participant
loans
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1,226,532
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1,339,260
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||
Subtotal
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15,205,764
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20,252,779
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||
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Interest
in Master Trust
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2,715,864
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---
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Total
Investments
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17,921,628
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20,252,779
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Receivables:
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Employer
contributions
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154,708
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15,118
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||
Employer
contributions
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---
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20,055
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Miscellaneous
receivable
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|
833
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---
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Total
Receivables
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155,541
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35,173
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Total
Assets
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18,077,169
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20,287,952
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Liabilities
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Payable:
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Administrative
Fees
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8,110
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---
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||||
Total
Liabilities
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8,110
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---
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Net
assets available for benefits
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$
|
18,069,059
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$
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20,287,952
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Additions:
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2006
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|||
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Investment
income:
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Net
appreciation in fair value of investments
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$
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1,574,496
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Interest
and dividends
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431,056
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Net
investment gain from interest in Master Trust
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37,604
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Net
investment income
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2,043,156
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Contributions:
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Participant
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1,158,732
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Employer
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568,831
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Total
contributions
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1,727,563
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Total
additions
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3,770,719
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Deductions:
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|
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Benefits
paid to participants
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1,472,013
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Transfers
out of Plan
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66,711
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Administrative
expenses
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13,102
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Total
deductions
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1,551,826
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Net
increase
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2,218,893
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Net
assets available for benefits:
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|||
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Beginning
of year
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18,069,059
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||
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End
of year
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$
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20,287,952
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1.
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Description
of Plan:
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Vesting
Percentage
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|||||
--Company
Matching--
|
|||||
Years
of Service
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Colorado
Springs
|
||||
1
Year
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20%
|
||||
2Year
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40%
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||||
3Year
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60%
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||||
4
Year
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80%
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5
Year
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100%
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2.
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Summary
of Significant Accounting
Policies:
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3.
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Investments:
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December
31,
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2005
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2006
|
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AVX
Corporation Common Stock
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$ 2,905,644
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$ 2,881,905
|
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Kyocera
Corporation American Depository Shares
|
2,275,163
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2,800,014
|
||
Investment
in Master Trust
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2,715,864
|
*
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MainStay
Cash Reserves Fund
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3,059,524
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3,594,493
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MainStay
S&P 500 Index Fund
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*
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1,051,626
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Templeton
Foreign Fund
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1,022,842
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1,261,028
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Janus
Fund
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1,080,165
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1,151,831
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Seligman
Large-Cap Value Fund
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*
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3,071,604
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AVX
Corporation Common Stock
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$
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50,303
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Kyocera
Corporation ADS
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664,355
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Mutual
Funds
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859,838
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Subtotal
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1,574,496
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Investment
in Master Trust
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37,604
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Total
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$
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1,612,100
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4.
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Nonparticipant-Directed
Investments:
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December
31,
|
||||
2005
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2006
|
|||
Net
Assets:
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||||
AVX
Corporation Common Stock Match Fund
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$
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300,954
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$
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109,212
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Year
Ended
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|||
December
31, 2006
|
|||
Changes
in Net Assets:
|
|||
Contributions
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$
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59,946
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Dividends
|
1,127
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Net
appreciation
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4,487
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Benefits
paid to participants
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(14,956)
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Transfers
to participant-directed investments
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(240,779)
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Other
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(1,567)
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Total
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$
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(191,742)
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5.
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Plan
Termination:
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6.
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Tax
Status:
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7.
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Related-Party
Transactions:
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8.
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Interest
in Master Trust :
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2005
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Assets:
|
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|
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Investments
at fair value:
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Common
stocks
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$
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18,842,393
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Common/collective
trust funds
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460,530
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Total
Investments
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19,302,923
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Cash
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|
---
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Liability
for Unsettled Trades
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(24,923)
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Interest
and dividends receivable
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36,471
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Net
Assets
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$
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19,314,471
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2006
|
Additions:
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Net
appreciation in fair value of investments
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$
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269,238
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Deductions:
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Transfer
to AVX Corporation Separate Plan Trusts
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19,798,154
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Investment
management expenses
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400
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Total
deductions
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19,798,554
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Net
decrease from investment activity
|
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(19,529,316)
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Excess
of fund allocations over fund withdrawals
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214,845
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Net
decrease
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|
(19,314,471)
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|
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Net
assets available for benefits:
|
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||
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Beginning
of year
|
|
19,314,471
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|
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End
of year
|
$
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---
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AVX
401(k) PLAN
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By:
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/s/
Kurt P. Cummings
|
Kurt
P. Cummings
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|
Member
of Retirement Committee
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Date:
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June
29, 2007
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(a)
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(b)
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(c)
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(d)
|
(e)
|
|||
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Identity
of issue, borrower, lessor or similar party
|
Description
of investment including maturity date, rate of interest, collateral,
par
or maturity value
|
|
Cost
|
Market
Value
|
||
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*
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AVX
Corporation
|
|
Common
Stock
|
$
|
2,607,586
|
$
|
2,881,905
|
|
|
|
|
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|
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*
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Kyocera
Corporation
|
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American
Depository Shares
|
|
**
|
|
2,800,014
|
|
|
|
|
|
|
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MainStay
Cash Reserves Fund
|
|
Money
Market Fund
|
|
**
|
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3,594,493
|
|
|
|
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|
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T.
Rowe Price Spectrum Income Fund
|
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Mututal
Fund
|
|
**
|
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477,882
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Janus
Balanced Fund
|
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Mututal
Fund
|
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**
|
|
814,407
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MainStay
S&P 500 Index Fund
|
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Mututal
Fund
|
|
**
|
|
1,051,626
|
|
Janus
Fund
|
|
Mututal
Fund
|
|
**
|
|
1,151,831
|
|
Templeton
Foreign Fund
|
|
Mututal
Fund
|
|
**
|
1,261,028
|
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Lord
Abbett Mid-Cap Value Fund
|
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Mututal
Fund
|
|
**
|
850,823
|
|
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Seligman
Large Cap Value Fund
|
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Mututal
Fund
|
|
**
|
3,071,604
|
|
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PIMCO
Total Return Fund
|
|
Mututal
Fund
|
|
**
|
957,906
|
|
|
|
|
|
|
9,637,107
|
||
|
|
|
|
|
|||
*
|
Participant
Loans
|
|
Interest
rates ranging from 6% - 9.75% and maturing through 2010.
|
|
**
|
1,339,260
|
|
|
|
|
|
|
|||
|
|
|
Total
Investments
|
|
$
|
20,252,779
|
(a)
|
(b)
|
(c)
|
(d)
|
(e)
|
(f)
|
(g)
|
(h)
|
(i)
|
Identity
of Party Involved
|
Description
of investment
|
Purchase
Price
|
Selling
Price
|
Lease
Rental
|
Expense
Incurred with
Transaction
|
Cost
of Asset
|
Current
Value of Asset on Transaction Date
|
Net
Gain/ (Loss)
|
Seligman
Large Cap Value Fund
|
Mutual
Fund
|
$
5,753,935
|
$ ---
|
n/a
|
---
|
$ 5,753,935
|
$
5,753,935
|
$ ---
|
Seligman
Equity Portfolio
|
Master
Trust
|
$ ---
|
$
5,572,060
|
n/a
|
---
|
$ ---
|
$
5,572,060
|
$ 399,051
|