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Enrolling in DRiPs needn't be as complicated as executing thru your usual stockbroker.

Many programs offer direct purchase plans (XON, GE, AN) which only require a completed 1 page application with usually a $250 minimum initial investment.

Others require an initial share purchase followed by paperwork enrollment in the DRiP. The Moneypaper (http://www.moneypaper.com) offers such a complete farrow to finish service for a $15 to 20 fee.

Either procedure is followed by subsequent optional cash payment (OCP) investment cycles (once every 7 days for some companies, usually every 30 days for most). You mail checks to a transfer agent (FCTC, BankBoston) for investment. If a program charges fees, it is assessed at this point.

As previously posted, I find Quicken 98 personal financial software as painless vehicle to manage investment activity including accurate cost basis for individual stocks accumulated via a DRiP.

Most DRiP programs charge $5-10 fee plus 3-7c/share commission to sell stocks held within a particular program. Given the very long term nature of DRiP investing (20-30 years), such costs normally aren't considered pertinent.

Good luck.

Fishlip
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