Filed pursuant to Rule 424(b)(3)

Registration No. 333-100481




PROSPECTUS SUPPLEMENT NO. 2 TO PROSPECTUS DATED FEBRUARY 10, 2003

 


 

$165,000,000
  

4.75% Convertible Senior Debentures, Series K, due 2032

and Shares of Common Stock Issuable upon Conversion of the Debentures



            This prospectus supplement relates to the resale by the selling securityholders listed below of our 4.75% Convertible Senior Debentures, Series K, due 2032 and shares of our common stock issuable upon conversion of the debentures. You should read this prospectus supplement together with the prospectus dated February 10, 2003, which is to be delivered with this prospectus supplement.

______________________________
 

            Investing in our debentures or shares of our common stock involves risks. See "Risk Factors" beginning on page 9 of the prospectus.

_______________________________
  

            Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if the prospectus, as supplemented, is truthful or complete. Any representation to the contrary is a criminal offense.

_______________________________


The date of this prospectus supplement is April 30, 2003.



SELLING SECURITYHOLDERS
 

            The information in the table below updates and supersedes the information appearing in (i) the table in the section entitled "Selling Securityholders" beginning on page 39 of the prospectus and (ii) similar tables included in any supplements thereto (other than this prospectus supplement).

 

Name

Aggregate

Principal Amount of

Debentures that May be Sold

Percentage of

Debentures Outstanding

Number of Shares of

Common Stock

Covered by the

Prospectus(1)
           

Advisory Convertible Arbitrage Fund (I) L.P.
 

$1,000,000

    

*

24,718

Allstate Life Insurance

Company
 

$2,600,000

    

1.6%

64,268

American Fidelity

Assurance Company
 

$350,000

    

*

8,651

Amerisure Mutual

Insurance Co.
 

$485,000

    

*

11,988

Attorney’s Title Insurance

Fund
 

$50,000

    

*

1,235

Aventis Pension Master

Trust
 

$125,000

    

*

3,089

Banc of America Securities

LLC
 

$3,527,000

    

2.1%

87,183

Bank Austria Cayman

Islands, Ltd.
 

$2,380,000

    

1.4%

58,830

Boilermaker - Blacksmith

Pension Trust
 

$565,000

    

*

13,966

CC Investments, LDC
 

$2,000,000

    

1.2%

49,437

CareFirst Blue Choice, Inc.
 

$125,000

    

*

3,089

CareFirst of Maryland, Inc.
 

$350,000

    

*

8,651

City of Birmingham

Retirement & Relief

System
 



$475,000

    



*



11,741

City of Knoxville Pension

System
 

$175,000

    

*

4,325

Clinton Convertible

Managed Tracking

Account 1 Limited

$250,000

    

*

6,179


S-2
 


 

Name

Aggregate

Principal Amount of

Debentures that May be Sold

Percentage of

Debentures Outstanding

Number of Shares of

Common Stock

Covered by the

Prospectus(1)
           

Clinton Riverside

Convertible Portfolio

Limited
 



$1,375,000

    



*



33,988

Clinton Multistrategy

Master Fund, Ltd.
 

$1,375,000

    

*

33,988

Conseco Fund Group -

Conseco Convertible

Securities Fund
 



$250,000

    



*



6,179

Convertible Securities
Fund
 

$100,000

    

*

2,471

D. E. Shaw Investment
Group, L.P.
 

$500,000

    

*

12,359

D. E. Shaw Valence
Portfolios, L.P.

$2,000,000

    

1.2%

49,437

Delta Pilots Disability and Survivorship Trust
 

$225,000

    

*

5,561

Dorinco Reinsurance
Company
 

$325,000

    

*

8,033

Freestate Health Plan, Inc.
 

$75,000

    

*

1,853

Genesee County
Employees’ Retirement
System
 



$250,000

    



*



6,179

Goldman, Sachs & Co. Profit Sharing Master Trust
 

$51,000

    

*

1,260

Greek Catholic Union of
the USA
 

$100,000

    

*

2,471

Group Hospitalization and Medical Services, Inc.
 

$400,000

    

*

9,887

HFR CA Select Fund
 

$600,000

    

*

14,831

HSBC Trustee, Zola
Managed Trust
 

$725,000

    

*

17,921

HealthNow New York, Inc.
 

$100,000

    

*

2,471

Highbridge International
LLC
 

$20,350,000

    

12.3%

503,027

Innovest Finanzdientle

$1,000,000

    

*

24,718


S-3
 


 

Name

Aggregate

Principal Amount of

Debentures that May be Sold

Percentage of

Debentures Outstanding

Number of Shares of

Common Stock

Covered by the

Prospectus(1)
           

Innovest
Finanzdienstleinstungs AG
 

$600,000

    

*

14,831

JMG Capital Partners, LP
 

$750,000

    

*

18,539

JMG Triton Offshore Fund,
Ltd.
 

$750,000

    

*

18,539

J.P. Morgan Securities, Inc.
 

$2,124,000

    

1.3%

52,502

Jackson County
Employees’ Retirement
System
 



$100,000

    



*



2,471

KBC Financial Products
USA Inc.
 

$451,000

    

*

11,148

KBC Financial Products
(Cayman Island) Limited
 

$7,000,000

    

4.2%

173,031

Knoxville Utilities Board Retirement System
 

$80,000

    

*

1,977

Lehman Brothers Special Financing Inc.
 

$50,000,000

    

30.3%

1,235,940

Lyxor Master Fund,

c/o Zola Capital

Management
 



$1,525,000

    



*



37,696

MFS Total Return Fund
 

$2,495,000

    

1.5%

61,673

MFS/Sun Life Mid Cap
Value Fund
 

$3,000

    

*

74

Macomb County
Employees’ Retirement
System
 

$155,000

    

*

3,831

McMahan Securities Co.
L.P.
 

$1,350,000

    

*

33,370

Man Convertible Bond
Master Fund, Ltd.
 

$3,463,000

    

2.1%

85,601

Morgan Stanley Dean
Witter Convertible
Securities Trust
 



$2,500,000



1.4%



61,797

Nations Convertible
Securities Fund

$2,900,000

    

1.8%

71,684


S-4
 


 

Name

Aggregate

Principal Amount of

Debentures that May be Sold

Percentage of

Debentures Outstanding

Number of Shares of

Common Stock

Covered by the

Prospectus(1)

NACM Investment Grade Convertible
 

$15,000

    

*

370

NORCAL Mutual
Insurance Company
 

$200,000

    

*

4,943

OZ Convertible Master
Fund, Ltd.
 

$197,000

  

*

4,869

OZ Mac 13 Ltd.
 

$51,000

  

*

1,260

OZ Master Fund, Ltd.
 

$2,701,000

  

1.6%

66,765

Physicians’ Reciprocal
Insurers Account #7
 

$600,000

    

*

14,831

RAM Trading Ltd.
 

$8,500,000

  

5.1%

210,109

RCG Baldwin, LP
 

$518,000

  

*

12,804

RCG Halifax Master Fund,
Ltd.
 

$1,238,000

  

*

30,601

RCG Latitude Master
Fund, Ltd.
 

$2,587,000

  

1.5%

63,947

RCG Multi Strategy A/C
LP
 

$3,105,000

  

1.8%

76,751

Ramius LP
 

$207,000

  

*

5,116

SEI Private Trust Company
 

$225,000

  

*

5,561

SG Cowen Securities -
Convertible Arbitrage
 

$5,000,000

    

3.0%

123,594

St. Thomas Trading, Ltd.
 

$5,537,000

    

3.4%

136,867

San Diego County
Employees Retirement
Association
 



$1,750,000

    



1.1%



43,257

Southern Farm Bureau Life Insurance
 

$300,000

    

*

7,415

Sterling Investment Co.
 

$1,000,000

  

*

24,718

Sunrise Partners Limited Partnership
 

$2,000,000

    

1.2%

49,437

The Cockrell Foundation

$50,000

  

*

1,235


S-5
 


 

Name

Aggregate

Principal Amount of

Debentures that May be Sold

Percentage of

Debentures Outstanding

Number of Shares of

Common Stock

Covered by the

Prospectus(1)

The Dow Chemical
Company Employees’
Retirement Plan
 



$1,100,000

    



*



27,190

The Fondren Foundation
 

$200,000

  

*

4,943

UBS AG London Branch
 

$50,000,000

  

30.3%

1,235,940

United Food and
Commercial Workers
Local 1262 and Employers Pension Fund
 




$225,000

    




*




5,561

Xavex Convertible
Arbitage #5
 

$315,000

  

*

7,786

Zazove Hedged
Convertible Fund L.P.
 

$2,500,000

    

1.5%

61,797

Zazove Income Fund L.P.
 

$2,000,000

  

1.2%

49,437

Zola Partners, L.P.
 

$4,750,000

  

2.9%

117,414

Zurich Institutional
Benchmarks Master Fund
Ltd.
 



$2,500,000

  



1.5%



61,797

Unnamed holders of
debentures or any future transferees, pledgees,
donees or successors of any
such unnamed holders (2)
 





$                  0

  





    0%





              0

Total:

$165,000,000

 (3)

100%

4,078,602


______________________


 

*

Less than 1%

 

 

(1)  

Assumes conversion of all of the holders’ debentures at a conversion rate of $40.455 per share of common stock. This conversion rate is subject to adjustment as described under "Description of Debentures – Conversion Rights - Adjustments to Conversion Rate" in the prospectus. As a result, the amount of common stock issuable upon conversion of the debentures may increase or decrease in the future.

 

 

(2)  

Specific information about these holders will be set forth in supplements or amendments to the prospectus, if required.

 

 

(3)  

The total principal amount of debentures at maturity listed above is more than $165,000,000 because certain of the above-listed selling securityholders may have, without notifying us, transferred debentures or otherwise reduced their position pursuant to transactions exempt from the registration requirements of the Securities Act of 1933, as amended ("Securities Act"). The maximum amount at maturity of debentures that may be sold under the prospectus, as supplemented, will not exceed $165,000,000.

_________________________


S-6


 

            The principal amounts of the debentures provided in the table above are based on information provided to us by the selling securityholders at various dates through April 30, 2003. Since the date on which each selling securityholder provided the information above, such selling securityholder may have sold, transferred or otherwise disposed of all or a portion or its debentures in a transaction exempt from the registration requirements of the Securities Act.

*     *     *     *     *     *