1 --------------------- ----------------- CUSIP No. 69830X108 13G PAGE 7 OF 9 PAGES --------------------- ----------------- EXHIBIT 1 TO SCHEDULE 13G FEBRUARY 13, 1997 MORGAN STANLEY GROUP INC. and MORGAN STANLEY & CO. INCORPORATED hereby agree that,...

   1
---------------------                                         -----------------
CUSIP No.   00000X000                   13G                   PAGE 7 OF 9 PAGES
---------------------                                         -----------------

                           EXHIBIT 1 TO SCHEDULE 13G


                               FEBRUARY 13, 1997


XXXXXX XXXXXXX GROUP INC. and XXXXXX XXXXXXX & CO. INCORPORATED hereby agree
that, unless differentiated, this Schedule 13G is filed on behalf of each of
the parties.




     XXXXXX XXXXXXX GROUP INC.


BY:  /s/ XXXXXX X. XXXXXXX
     --------------------------------
     Xxxxxx X. Xxxxxxx/Vice-President
     Xxxxxx Xxxxxxx & Co. Incorporated


     XXXXXX XXXXXXX & CO. INCORPORATED

BY:  /s/ XXXXXX X. XXXXXXX
     --------------------------------
     Xxxxxx X. Xxxxxxx/Vice-President
     Xxxxxx Xxxxxxx & Co. Incorporated