NOTES TO FINANCIAL STATEMENTS
1. Nature of Business and Basis of Presentation
Lexington Corporate Leaders Trust Fund (the "Trust") is an unincorporated Unit Investment Trust registered as
such with the Securities and Exchange Commission. The Trust commenced operations in 1941 as a series of
Corporate Leaders Trust Fund which was created under a Trust Indenture dated November 18, 1935.
2. Significant Accounting Policies
The following is a summary of significant accounting policies followed by the Trust in the preparation of its
(a) Valuation of securities-Investments are stated at value based on the last sale price on the principal exchange
on which the security is traded prior to the time the Trust's assets are valued. Investments for which no sale is
reported, or which are traded over-the-counter, are valued at the mean between bid and asked prices. Short
term securities with 60 days or less to maturity are valued at amortized cost.
(b) Income taxes-No provision for Federal income taxes is made since the Trust, under applicable provisions of
the Internal Revenue Code, is a Grantor Trust and all its income is taxable to the Holders of participations.
(c) Other-Investment transactions are recorded on the trade date basis. Dividend income is recorded on the ex-
dividend date. Interest income is accrued as earned.
(a) During the year ended December 31, 1994, the distributions from net investment income were $.31504 per
participation and, from realized gains, were $.89976 per participation.
(b) The amount shown does not reflect the reinvestment of that portion of the proceeds from the sale of securities
(other than stock units) representing the cost of the securities sold which is distributed and then reinvested in
additional participations. In addition, any gain on the sale of stock units to provide funds for the redemption of
participations is non-distributable and remains a part of the principal account. During the year ended December