AMERICAN POWER CONVERSION CORPORATION
CONSOLIDATED BALANCE SHEET


                                               MARCH 31, 1995        DECEMBER 31, 1994 

CURRENT ASSETS                                                                         

                                                                                       
CASH AND CASH EQUIVALENTS                         $24,144,980              $29,072,717 

SHORT TERM INVESTMENTS                             13,310,698               12,407,729 

ACCOUNTS RECEIVABLES, NET                          62,410,138               60,538,872 

INVENTORIES                                       133,594,672               92,415,545 

OTHER CURRENT ASSETS                               10,666,113               10,720,950 

DEFERRED INCOME TAXES                               7,031,000                5,710,000 
                                                                                      

TOTAL CURRENT ASSETS                              251,157,601              210,865,813 

                                                                                       
PROPERTY, PLANT & EQUIPMENT                        72,954,992               66,563,265 

LESS: ACCUM. DEPRECIATION                          14,093,091               13,108,988 

NET PROPERTY, PLANT & EQUIPMENT                    58,861,901               53,454,277 

OTHER LONG TERM ASSETS                                842,948                  842,948 

                                                                                       
TOTAL ASSETS                                      310,862,450              265,163,038 
                                                                                       

CURRENT LIABILITIES                                                                    

                                                                                       
ACCOUNTS PAYABLE                                  $55,133,232              $33,557,687 

ACCRUED EXPENSES                                   15,368,523               16,695,842 

INCOME TAXES PAYABLE                                6,010,708                        0 
                                                                                      

TOTAL CURRENT LIABILITIES                          76,512,463               50,253,529 
                                                                                      

DEFERRED TAX LIABILITY                              3,372,000                2,982,000 
                                                                                       

TOTAL LIABILITIES                                  79,884,463               53,235,529 
                                                                                       

SHAREHOLDER EQUITY                                                                     
                                                                                       

COMMON STOCK                                          925,672                  924,518 

ADDITIONAL PAID IN CAPITAL                         29,810,682               29,326,171 

UNREALIZED HOLDING LOSSES                                                              
  ON SHORT-TERM INVESTMENTS                         (202,000)                (497,000) 

RETAINED EARNINGS                                 200,443,633              182,173,820 
                                                                                       

TOTAL SHAREHOLDER EQUITY                          230,977,987              211,927,509 
                                                                                       

                                                 $310,862,450             $265,163,038