PIEDMONT MANAGEMENT CO INC <PMAN> 4TH QTR Shr 70 cts vs 4.91 dlrs Net 3.7 mln vs 26.3 mln Year Shr 1.99 dlrs vs 3.35 dlrs Net 10.7 mln vs 18.0 mln NOTE:1986 year, 4th qtr include capital gains of 3.5 mln dlrs and 1.1 mln dlrs, respectively and extraordinary gain of 3.4 mln dlrs and 1.2 mln dlrs respectively. 1985 year and 4th qtr include capital gains of 24.0 mln dlrs and 23.3 mln dlrs respectively and extraordinary gain of 3.9 mln dlrs.