ALABAMA INVESTOR UPS PENOBSCOT SHOE &lt;PSO> STAKE

  Donaldson Bramham Lee, an investor
  from Birmingham, Alabama, said he raised his stake in Penobscot
  Shoe Co to 40,500 shares, or 6.6 pct of the total outstanding
  common stock, from 33,500 shares, or 5.5 pct.
      In a filing with the Securities and Exchange Commission,
  Lee said he bought 7,000 Penobscot common shares between Feb 12
  and March 2 at prices ranging from 13.75 to 16.25 dlrs a share.
      Lee has said he bought the Penobscot stock for investment
  purposes only and has no plans to seek control of the company,
  although he may buy more stock.
  

