EXHIBIT 4.1    ARTICLES OF INCORPORATION OF THE REGISTRANT
 
 
 
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                            ARTICLES OF INCORPORATION
                                       OF
                         PROVIDENT MARYLAND CORPORATION
 
      FIRST:  The  undersigned,  Thomas M.W.  Haines,  whose address is 250 West
Pratt Street,  Baltimore,  Maryland 21201, being at least eighteen years of age,
acting as incorporator, does hereby form a corporation under the General Laws of
the State of Maryland.
 
      SECOND: The name of the Corporation (hereinafter "the Corporation") is:
 
                         PROVIDENT MARYLAND CORPORATION
 
      THIRD:  The present address of the principal  office of the Corporation in
the State of Maryland is 114 East Lexington Street, Baltimore, Maryland 21201.
 
      FOURTH:  The purposes for which and any of which the Corporation is formed
and the business and objects to be carried on and promoted by it are:
 
           (1)  To  acquire  by  purchase,  subscription  or  otherwise,  and to
      receive, hold, own, guarantee, sell, assign, exchange, transfer, mortgage,
      pledge or otherwise dispose of or deal in and with any and all securities,
      as such term is hereinafter defined, issued or created by any corporation,
      firm,  organization,  association  or other  entity,  public  or  private,
      whether  formed  under the laws of the United  States of America or of any
      state,  commonwealth,  territory,  dependency or possession thereof, or of
      any foreign country,  or issued or created by the United States of America
      or any state or  commonwealth  thereof or any foreign  country,  or by any
      agency, subdivision,  territory, dependency, possession or municipality of
      any of the foregoing, and as owner thereof to possess and exercise all the
      rights, powers and privileges of ownership, including the right to execute
      consents and vote thereon, and to do any and all acts and things necessary
      or advisable for the preservation, protection, improvement and enhancement
      in value thereof.
 
           The term  "securities" as used in this Article shall mean any and all
      notes,  stocks,   treasury  stocks,   bonds,   debentures,   evidences  of
      indebtedness,   certificates   of   interest  or   participation   in  any
      profit-sharing agreement, collateral-trust certificates,  pre-organization
      certificates or subscriptions,  transferable shares, investment contracts,
      voting  trust  certificates,  certificates  of  deposit  for  a  security,
      fractional  undivided  interests in oil, gas, or other mineral rights, or,
      in general,  any interests or instruments  commonly known as "securities",
      or any and all certificates of interest or participation  in, temporary or
      interim  certificates  for,  receipts for,  guaranties  of, or warrants or
      rights to subscribe to or purchase, any of the foregoing.
 
 
 
 
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           (2) To engage in any one or more  businesses or  transactions,  or to
      acquire  all or any  portion  of any  entity  engaged  in any  one or more
      businesses or transactions,  which the Board of Directors may from time to
      time  authorize  or  approve,  whether  or not  related  to  the  business
      described  elsewhere in this Article or to any other  business at the time
      or theretofore  engaged in by the Corporation,  and generally to engage in
      any lawful act or activity for which  corporations  may be organized under
      the Maryland General Corporation Law.
 
      The foregoing  enumerated  purposes and objects shall be in no way limited
or restricted by reference to, or inference  from, the terms of any other clause
of  this  or  any  other  Article  of  the  Articles  of  Incorporation  of  the
Corporation, and each shall be regarded as independent; and they are intended to
be and shall be  construed  as powers as well as  purposes  and  objects  of the
Corporation  and shall be in  addition to and not in  limitation  of the general
powers of corporations under the general laws of the State of Maryland.
 
      FIFTH: The duration of the Corporation shall be perpetual.
 
      SIXTH:  The total  number of shares of stock of all classes of stock which
the  Corporation  has  authority to issue is  Thirty-Five  Million  (35,000,000)
shares,   having  an  aggregate  par  value  of  Thirty-Five   Million   Dollars
($35,000,000),  and divided into Thirty  Million  (30,000,000)  shares of common
stock  with a par  value of One  Dollar  ($1.00)  per  share,  and Five  Million
($5,000,000)  shares of preferred  stock with a par value of One Dollar  ($1.00)
per share.
 
      A  description  of each class of stock of the  Corporation,  including any
voting powers, designations,  preferences and relative, participating,  optional
or other  special  rights,  and  qualifications,  limitations  and  restrictions
thereof, is as follows:
 
           (a) Preferred Stock.  The Board of Directors is expressly  authorized
               ---------------
to adopt resolutions to classify and reclassify any unissued shares of preferred
stock, and to divide and classify shares of any class into one or more series of
such  class,  by  determining,  fixing,  or  altering  from time to time  before
issuance any one or more of the following:
 
               (1) The  distinctive  designation of such class or series and the
           number of shares to constitute  such class or series;  provided that,
           unless  otherwise  prohibited by the terms of such or any other class
           or  series,  the  number of  shares  of any  class or  series  may be
           decreased  by  the  Board  of  Directors  in   connection   with  any
           classification or  reclassification of unissued shares and the number
           of shares of such  class or series may be  increased  by the Board of
           Directors   in   connection   with   any   such   classification   or
           reclassification,  and any  shares of any class or series  which have
           been  redeemed,  purchased,  otherwise  acquired,  or converted  into
           shares of Common Stock or any other class or series shall remain part
           of the authorized  preferred  stock and be subject to  classification
           and reclassification as provided in this Section.
 
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               (2) Whether or not and, if so, the rates,  amounts,  and times at
           which, and the conditions under which,  dividends shall be payable on
           shares of such class or series, whether any such dividends shall rank
           senior or junior to or on a parity with the dividends  payable on any
           other class or series of stock,  and the status of any such dividends
           as cumulative, cumulative to a limited extent or non-cumulative,  and
           as participating or non-participating.
 
               (3)  Whether  or not  shares of such  class or series  shall have
           voting rights,  in addition to any voting rights provided by law and,
           if so, the terms of such voting rights.
 
               (4)  Whether  or not  shares of such  class or series  shall have
           conversion  or  exchange   privileges  and,  if  so,  the  terms  and
           conditions  thereof,   including  provision  for  adjustment  of  the
           conversion  or  exchange  rate in such events or at such times as the
           Board of Directors shall determine.
 
               (5)  Whether  or not  shares  of such  class or  series  shall be
           subject to  redemption  and, if so, the terms and  conditions of such
           redemption,  including  the date or dates  upon or after  which  they
           shall be  redeemable  and the  amount  per share  payable  in case of
           redemption,  which amount may vary under different  conditions and at
           different  redemption  dates;  and  whether or not there shall be any
           sinking fund or purchase account in respect  thereof,  and if so, the
           terms thereof.
 
               (6) The  rights of the  holders of shares of such class or series
           upon the liquidation,  dissolution,  or winding up of the affairs of,
           or upon any  distribution  of the assets of, the  Corporation,  which
           rights may vary depending upon whether such liquidation, dissolution,
           or winding up is voluntary or involuntary and, if voluntary, may vary
           at  different  dates,  and whether  such rights  shall rank senior or
           junior  to or on a parity  with such  rights  of any  other  class or
           series of stock.
 
               (7)  Whether or not there  shall be any  limitations  applicable,
           while  shares  of such  class or  series  are  outstanding,  upon the
           payment  of  dividends  or  making  of   distributions   on,  or  the
           acquisition  of, or the use of moneys for the purchase or  redemption
           of, any capital stock of the Corporation, or upon any other action of
           the Corporation, including action under this Section, and, if so, the
           terms and conditions thereof.
 
               (8)  Any  other  preferences,  rights,  restrictions,   including
           restrictions on transferability, and qualifications of shares of such
           class  or  series,  not  inconsistent  with law and the  Articles  of
           Incorporation of the Corporation.
 
               (b) Common  Stock.  Subject to all of the rights of the preferred
stock as expressly provided in these Articles of Incorporation, by law or by the
Board of  Directors  in a  resolution  or  resolutions  pursuant to this Article
SIXTH, the common stock of the Corporation shall
 
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possess  all such rights and  privileges  as are  afforded  to capital  stock by
Maryland law in the absence of any express  grant of rights or privileges in the
Corporation's  Articles  of  Incorporation,  including  but not  limited to, the
following:
 
                    (i)   Holders of  the common stock  shall be entitled to one
(1)  vote  per  share  on  each  matter  submitted  to a vote  at a  meeting  of
stockholders;  provided,  however, that there shall not be any cumulative voting
               --------   -------
of the common stock.
 
                    (ii)  Dividends  may be  declared  and paid or set aside for
payment  upon the  common  stock out of any  assets or funds of the  Corporation
legally available therefor.
 
                    (iii) Upon  the  voluntary   or   involuntary   liquidation,
dissolution  or  winding  up  of  the  Corporation,  its  net  assets  shall  be
distributed ratably to holders of the common stock.
 
      SEVENTH: The name and address of the resident agent of the Corporation are
George S. Ingalls,  114 East Lexington Street,  Baltimore,  Maryland 21202. Said
resident agent is a citizen and resident of Maryland.
 
      EIGHTH:  The  number of  directors  shall be fixed  by,  or in the  manner
provided in, the Bylaws of the Corporation.
 
      Any director, or the entire Board of Directors, may be removed from office
at any time,  but only for cause  and then only by the  affirmative  vote of the
holders of at least 80% of the shares of stock  entitled to vote in the election
of directors.
 
      The directors shall be divided into three (3) classes,  as nearly equal in
number as possible,  with the term of the office of the first class to expire at
the 1991 annual meeting of stockholders,  the term of office of the second class
to expire at the 1992 annual meeting of stockholders,  and the term of office of
the third class to expire at the 1993 annual  meeting of  stockholders.  At each
annual meeting of  stockholders,  beginning in 1991,  successors to the class of
directors  whose term  expires at that  annual  meeting  shall be elected  for a
three-year term.
 
      The names of the  directors  who will serve until the next annual  meeting
and until their successors are duly elected and qualified are as follows:
 
 
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                        First Class - Term Expiring 1991
                        --------------------------------
 
                                Raymond C. Bryant
                                Calvin W. Burnett
                                 Pierce B. Dunn
                                Arnold J. Kleiner
                                 Peter M. Martin
                                 Sheila K. Riggs
 
                        Second Class - Term Expiring 1992
                        ---------------------------------
 
                              Michael J. Batza, Jr.
                            M. Jenkins Cromwell, Jr.
                              Clivie C. Haley, Jr.
                                Norman J. Louden
                              William L. Ollerhead
                               E. Clayton Shelhoss
 
                        Third Class - Term Expiring 1993
                        --------------------------------
 
                             Matthew C. Fenton, III
                              Ronald L. Mason, Sr.
                                 C. William Pacy
                                Francis G. Riggs
                                 Carl W. Stearn
                            Thomas J. S. Waxter, Jr.
 
      NINTH:  The  following  provisions  are hereby  adopted for the purpose of
defining,  limiting and regulating the powers of the Corporation,  the directors
and the stockholders:
 
           (1) The Board of Directors shall have the power from time to time and
      in its  sole  discretion:  (a) to  determine,  in  accordance  with  sound
      accounting  practice,  what  constitutes  annual  or  other  net  profits,
      earnings,  surplus or net assets in excess of capital; (b) to fix and vary
      from time to time the  amount to be  reserved  as working  capital,  or to
      determine  that retained  earnings or surplus shall remain in the hands of
      the  Corporation;  (c) to set apart any funds of the  Corporation  for the
      establishment  of such  reserves  in such  amounts  and  for  such  proper
      purposes  as it shall  determine  and to abolish or  redesignate  any such
      reserves or any part  thereof;  (d) to  determine  whether  there shall be
      declared,  distributed or paid any distribution or dividend in stock, cash
      or other  securities  or  property,  out of surplus or any other  funds or
      amounts legally available therefor, and to declare, distribute and pay the
      same at such times and to the stockholders of record on such
 
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      dates as it may from  time to time  deem  appropriate;  and (e)  except as
      otherwise provided by statute or by the Bylaws, to determine  whether,  to
      what  extent,  at what times and  places,  and under what  conditions  and
      regulations the books,  accounts and documents of the Corporation,  or any
      of them, shall be open to the inspection of  stockholders,  and, except as
      so  provided,  no  stockholder  shall have the right to inspect  any book,
      account or  document  of the  Corporation  unless  authorized  to do so by
      resolution of the Board of Directors.
 
           (2) The Board of  Directors  is hereby  empowered  to  authorize  the
      issuance  from time to time of  shares  of its stock of any class  with or
      without par value, and securities  convertible into shares of its stock of
      any class with or without par value, for such  consideration as determined
      by the  Board  of  Directors  in  accordance  with  the  Maryland  General
      Corporation Law, and without any action by the stockholders.
 
           (3)  No  holder  of  any  stock  or  any  other   securities  of  the
      Corporation,   whether  now  or  hereafter  authorized,   shall  have  any
      pre-emptive  right to  subscribe  for or  purchase  any stock or any other
      securities  of the  Corporation  other than such,  if any, as the Board of
      Directors,  in its sole  discretion,  may  determine  and at such price or
      prices and upon such other  terms as the Board of  Directors,  in its sole
      discretion,  may fix; and any stock or other securities which the Board of
      Directors  may  determine to offer for  subscription  may, as the Board of
      Directors  in its sole  discretion  shall  determine,  be  offered  to the
      holders of any class,  series or type of stock or other  securities at the
      time  outstanding  to the  exclusion  of the  holders  of any or all other
      classes,  series  or  types  of  stock  or  other  securities  at the time
      outstanding.
 
           (4) The Board of  Directors  shall  have the  power to create  and to
      issue,  whether or not in  connection  with the  issuance  and sale of any
      shares of stock or other securities of the Corporation,  rights or options
      entitling the holders  thereof to purchase from the Corporation any shares
      of its capital stock of any class or classes, on such terms and conditions
      and in  such  form  as  the  Board  of  Directors  shall  set  forth  in a
      resolution.
 
           (5) The Board of  Directors  shall  have the  power,  subject  to any
      limitations or restrictions  imposed by law, to classify or reclassify any
      unissued shares of stock whether now or hereafter authorized, by fixing or
      altering in any one or more  respects  before  issuance of such shares the
      voting  powers,  designations,  preferences  and relative,  participating,
      optional or other  special  rights of such shares and the  qualifications,
      limitations or restrictions of such preferences and/or rights.
 
 
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           (6) The Board of  Directors  shall have the power to adopt,  amend or
      repeal the Bylaws of the Corporation.
 
           (7) The  Board of  Directors  shall  have the  power to  declare  and
      authorize the payment of stock dividends,  whether or not payable in stock
      of one class to  holders of stock of  another  class or classes  and shall
      have authority to exercise  without a voting of stockholders all powers of
      the  Corporation,  whether  conferred  by  law  or by  these  Articles  of
      Incorporation, to purchase, lease or otherwise acquire the business assets
      or franchises in whole or in part of other  corporations or unincorporated
      business entities.
 
           (8) The Board of  Directors  shall  have the power to borrow or raise
      money,  from time to time and without limit,  and upon any terms,  for any
      corporate  purposes;  and subject to the Maryland General Corporation Law,
      to authorize  the  creation,  issuance,  assumption  or guaranty of bonds,
      notes or other  evidences  of  indebtedness  for  monies so  borrowed,  to
      include therein such  provisions as to  redeemability,  convertibility  or
      otherwise as the Board of Directors, in its sole discretion, may determine
      and to secure  the  payment of  principal,  interest  or  sinking  fund in
      respect  thereof by mortgage  upon, or the pledge of, or the conveyance or
      assignment  in trust of, the whole or any part of the  properties,  assets
      and goodwill of the Corporation then owed or thereafter acquired.
 
           (9) No action  required  or  permitted  to be taken at any  annual or
      special meeting of stockholders  shall be taken otherwise than at any such
      annual or special meeting, and no such action shall be taken by means of a
      consent of stockholders in lieu of a meeting.
 
           (10) Subject  to the provisions of Article TENTH of these Articles of
      Incorporation,  the  affirmative  vote of the holders of two-thirds of the
      issued and  outstanding  shares of capital stock entitled to vote shall be
      required to approve the following actions:
 
               (a) The amendment of the Corporation's Articles of Incorporation,
      except that any amendment of Article EIGHTH of the Corporation's  Articles
      of  Incorporation  shall require the affirmative vote of 80% of the issued
      and outstanding shares of capital stock entitled to vote.
 
               (b) The merger or  consolidation of this Corporation with or into
      any other corporation.
 
               (c) The sale,  lease or exchange of all or  substantially  all of
      the Corporation's property and assets.
 
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               (d) The dissolution of the Corporation.
 
           (11)  No contract or transaction  between the Corporation  and one or
      more of its  directors or  officers,  or between the  Corporation  and any
      other corporation, partnership, association or other organization in which
      one or more of its  directors  or officers are  directors or officers,  or
      have a  financial  interest,  shall be void or  voidable  solely  for this
      reason,  or solely  because  the  director  or  officer  is  present at or
      participates  in the  meeting  of the  Board or  committee  thereof  which
      authorizes  the contract or  transaction,  or solely  because his or their
      votes are counted for such purposes if:
 
               (i) The material facts as to his  relationship or interest and as
      to the contract or transaction  are disclosed or are known to the Board of
      Directors  or the  committee,  and the Board or  committee  in good  faith
      authorizes  the  contract  or  transaction  by the  affirmative  vote of a
      majority of the  disinterested  directors,  even though the  disinterested
      directors be less than a quorum; or
 
               (ii) The material facts as to his relationship or interest and as
      to  the  contract  or  transaction  are  disclosed  or  are  known  to the
      stockholders  entitled to vote thereon, and the contract or transaction is
      specifically approved in good faith by a majority vote of the stockholders
      entitled  to vote  other  than the  votes of  shares  owned of  record  or
      beneficially  by the  interested  director or  corporation,  firm or other
      entity; or
 
               (iii) The contract or transaction is fair as to the Corporation 
      as of the time it is  authorized,  approved  or  ratified  by the Board of
      Directors, a committee thereof, or the stockholders.
 
           Common or  interested  directors  may be counted in  determining  the
      presence  of a quorum  at a  meeting  of the  Board of  Directors  or of a
      committee which authorizes the contract or transaction.
 
           (12) To  the  fullest  extent  permitted  by  Maryland   statutory or
      decisional law, as amended or interpreted,  no director or officer of this
      Corporation   shall  be  personally  liable  to  the  Corporation  or  its
      stockholders  for  monetary  damages.  No  amendment of the charter of the
      Corporation  or repeal of any of its  provisions  shall limit or eliminate
      the benefits  provided to directors and officers under this provision with
      respect to any act or omission  which  occurred prior to such amendment or
      repeal.
 
           (13) The Board of Directors shall, in connection with the exercise of
      its business judgment involving any actual or proposed transaction which
 
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      would or may  involve a change in control of the  Corporation  (whether by
      purchases of shares of stock or any other securities of the Corporation in
      the  open  market  or  otherwise,  tender  offer,  merger,  consolidation,
      dissolution,  liquidation,  sale of all or substantially all of the assets
      of the Corporation,  proxy solicitation (other than on behalf of the Board
      of Directors or otherwise),  in determining  what is in the best interests
      of the Corporation and its stockholders  and in making any  recommendation
      to its  stockholders,  given due  consideration  to all relevant  factors,
      including,  but not limited to (a) the economic effect, both immediate and
      long-term, upon the Corporation's stockholders, including stockholders, if
      any, not to  participate in the  transaction;  (b) the social and economic
      effect on the  employees,  depositors and customers of, and others dealing
      with, the Corporation and its subsidiaries and on the communities in which
      the Corporation and its subsidiaries  operate or are located;  (c) whether
      the proposal is acceptable  based on the historical and current  operating
      results or  financial  condition  of the  Corporation;  (d) whether a more
      favorable  price could be obtained  for the  Corporation's  stock or other
      securities in the future; (e) the reputation and business practices of the
      offeror  and its  management  and  affiliates  as they  would  affect  the
      employees;  (f) the future value of the stock or any other  securities  of
      the  Corporation;  and (g) any  antitrust  or other  legal and  regulatory
      issues  that  are  raised  by the  proposal.  If the  Board  of  Directors
      determines  that any actual or  proposed  transaction  which  would or may
      involve a change in control of the Corporation should be rejected,  if may
      take any lawful  action to  accomplish  its  purpose,  including,  but not
      limited to, any and all of the  following:  advising  stockholders  not to
      accept the proposal;  instituting  litigation against the party making the
      proposal;  filing complaints with governmental and regulatory authorities;
      acquiring the stock or any of the securities of the  Corporation;  selling
      or otherwise  issuing  authorized but unissued stock,  other securities or
      treasury stock or granting  options with respect  thereto;  selling any of
      the assets of the Corporation;  acquiring a company to create an antitrust
      or other  regulatory  problem  for the  party  making  the  proposal;  and
      obtaining a more favorable offer from another individual or entity.
 
           (14)(a)  For purposes of this Paragraph, the following words have the
                    meanings indicated:
 
                    (i)  "Affiliate",  including the term  "affiliated  person",
           shall  have the  meaning  set forth in Article  TENTH,  Section 3E of
           these Articles.
 
 
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                  (ii)  "Associate",  when  used to indicate a relationship with
           any  person,  shall  have the  meaning  set forth in  Article  TENTH,
           Section 3F of these Articles.
 
                  (iii) "Beneficial  Owner",  when  used,  with  respect  to any
           Voting  Stock,  shall have the  meaning  set forth in Article  TENTH,
           Section 3C of these Articles.
 
                  (iv) "Control" including  the terms "controlling", "controlled
           by", and "under common control with", means the possession,  directly
           or  indirectly,  of the power to vote or cause the  direction  of the
           management and policies of a person, whether through the ownership of
           voting  securities,  by contract,  or otherwise,  and the  beneficial
           ownership of ten percent or more of the votes  entitled to be cast by
           a corporation's voting stock creates a presumption of control.
 
                  (v)  "Group",  when used to indicate those additional  persons
           who are Beneficial Owners of Voting Stock, shall include:
 
                        (A)  the person,
 
                        (B) the Affiliates and Associates of the person; and
 
                        (C)  any additional  person whose stock is  Beneficially
                             Owned by the person or an Affiliate or Associate of
                             the person;
 
           and shall  include  all persons  that  jointly  file a  statement  of
           beneficial  ownership pursuant to Section 13(d) of the Securities and
           Exchange Act of 1934,  irrespective  of any disclaimers of beneficial
           ownership.
 
                   (vi) "Underwriters"  means any one or more investment banking
           firms which purchase  Voting Stock of the Corporation for resale in a
           public offering.
 
                  (vii) "Voting  Stock"  means  shares of  capital  stock of the
           Corporation entitled to vote generally in the election of directors.
 
               (b) For a period of five (5) years  following the effective  date
      of the merger of  Provident  Bank of  Maryland  into The  Provident  Trust
      Company,  no person or group  shall,  directly or  indirectly,  acquire or
      offer to acquire the Beneficial  Ownership of more than ten percent of any
      class of Voting stock, or security  convertible  into Voting Stock, of the
      Corporation;
 
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      provided, however, that the foregoing limitation shall not apply to shares
      of Voting Stock, or securities  convertible into Voting Stock, issued: (i)
      in a  business  combination  approved  by the  Board of  Directors  of the
      Corporation;  (ii) to Underwriters; or (iii) by the Corporation subsequent
      to the initial public offering of its stock, to the extent provided by the
      Board  of  Directors  in  its  resolutions   authorizing  such  shares  or
      convertible  securities for issuance.  The Corporation may bring suit in a
      court of law or equity to compel  divestment  of any shares or  securities
      acquired in excess of the limitations contained in this paragraph.
 
               (c)  For a period of five (5) years following the effective  date
                    of the  merger  of  Provident  Bank  of  Maryland  into  The
                    Provident  Trust  Company,  a person  or  Group  that is the
                    Beneficial  Owner of more than five  percent of any class of
                    Voting Stock shall have the right to vote not more than five
                    percent  of the  shares  of such  class,  and the  remaining
                    shares  Beneficially  Owned by such person or group shall be
                    deducted  from the total number of shares of Voting Stock of
                    such class for purposes of  determining  the  proportion  of
                    Voting  Stock  required  to approve a matter  submitted  for
                    stockholder  approval.  In the case of a Group, the votes of
                    individual members of a Group shall be reduced on a pro rata
                    basis for purposes of determining which shares of such class
                    of Voting  stock shall be voted so that the Group shall have
                    in the  aggregate  the  right  to vote not  more  than  five
                    percent  of the  shares  of such  class of Voting  Stock.  A
                    person  that is a member of more than one Group  shall  vote
                    the least  number of shares of a class of Voting  Stock that
                    he may vote as a member of any such Group.
 
               (d)  The provisions of Article NINTH, Sections 14(b) and (c)shall
                    not apply to any person or Group that Interested Stockholder
                    the  Beneficial  Ownership  of Voting Stock in excess of the
                    percentages set forth in those Sections,  to the extent that
                    such Beneficial  Ownership may be attributable to the status
                    of any such person or Group as trustee of or fiduciary  with
                    respect to any employee stock ownership  plan,  pension plan
                    or other  employee  benefit plan of the  Corporation  or its
                    Subsidiaries,  as that term is  defined  in  Article  TENTH,
                    Section 3G. The provisions of Article NINTH,  Sections 14(b)
                    and (c) may be waived  from time to time by the  affirmative
                    vote of not less  than  two-thirds  of the  entire  Board of
                    Directors of the Corporation, but only if
 
                                       11
 
<PAGE> 13
 
 
 
                    the  Board of  Directors  determines  that  such  waiver  is
                    necessary in order to permit the  Corporation  to consummate
                    an acquisition on the basis of a pooling of interests.
 
      The  enumeration  and  definition  of a  particular  power of the Board of
Directors  included in the foregoing shall in no way be limited or restricted by
reference  to or  inference  from the terms of any  other  clause of this or any
other  Article  of the  Articles  of  Incorporation  of the  Corporation,  or be
construed  or deemed by inference or otherwise in any manner to exclude or limit
any powers  conferred upon the Board of Directors  under the general laws of the
State of Maryland now or hereafter in force.
 
      TENTH:  The following  provision is hereby adopted by the  Corporation for
the  purpose  of  insuring  equitable   treatment  of  all  stockholders  in  he
circumstances described below:
 
           SECTION 1.   Vote Required for Certain Business Combinations.
           ---------
 
      A.  Higher  Vote for  Certain  Business  Combinations.  In addition to any
          -------------------------------------------------
affirmative vote required by law or these Articles of Incorporation,  and except
as otherwise expressly provided in Section 2 of this Article TENTH:
 
               (i)  any  merger,   consolidation   or  share   exchange  of  the
           Corporation or any Subsidiary (as  hereinafter  defined) with (a) any
           Interested  Stockholder  (as  hereinafter  defined)  or (b) any other
           corporation  (whether or not itself an Interested  Stockholder) which
           is, or after such merger,  consolidation  or share exchange would be,
           an Affiliate (as hereinafter  defined) of an Interested  Stockholder;
           or
 
               (ii) any sale, lease,  exchange,  mortgage,  pledge,  transfer or
           other disposition (in one transaction or a series of transactions) to
           or with any Interested Stockholder or any Affiliate of any Interested
           Stockholder, of any assets of the Corporation or any Subsidiary which
           have,  measured  at the  time the  transaction  or  transactions  are
           approved by the Corporation's  Board of Directors,  an aggregate book
           value as of the end of the  Corporation's  most recently ended fiscal
           quarter  of ten  percent  or more of the  total  market  value of the
           outstanding  capital stock of the  Corporation or of its net worth as
           of the end of its most recently ended fiscal quarter; or
 
              (iii) the  issuance  or  transfer  by   the   Corporation  or  any
           Subsidiary (in one  transaction or a series of  transactions)  of any
           securities of the  Corporation  or any  Subsidiary to any  Interested
           Stockholder  or  any  Affiliate  of  any  Interested  Stockholder  in
           exchange for cash,  securities  or other  property (or a  combination
           thereof)  having an aggregate  market value of ten percent or more of
           the  total  market  value  of the  outstanding  capital  stock of the
           Corporation; or
 
 
                                       12
 
<PAGE> 14
 
 
 
               (iv) the adoption of any plan or proposal for the  liquidation or
           dissolution  of  the  Corporation  proposed  by or on  behalf  of any
           Interested   Stockholder   or  any   Affiliate   of  any   Interested
           Stockholder; or
 
               (v) any  reclassification  of securities  (including  any reverse
           stock split), or recapitalization of the Corporation,  or any merger,
           consolidation  or share exchange of the  Corporation  with any of its
           Subsidiaries or any other transaction (whether or not with or into or
           otherwise involving an Interested  Stockholder) which has the effect,
           directly or indirectly,  of increasing the proportionate share of the
           outstanding  shares of any class of Equity  Security (as  hereinafter
           defined) of the  Corporation or any  Subsidiary  which is directly or
           indirectly  owned by any  Interested  Stockholder or any Affiliate of
           any Interested Stockholder; or
 
               (vi) any agreement,  contract or other arrangement  providing for
           any of the transactions  hereinabove  described in this definition of
           Business Combination;
 
shall  require  the  affirmative  vote of at least (a)  two-thirds  of the votes
entitled to be cast by  outstanding  shares of capital stock of the  Corporation
entitled to vote  generally in the election of directors  (the "Voting  Stock"),
voting  together as a single voting group,  and (b) two-thirds of the holders of
Voting  Stock  other than  Voting  Stock owned  directly  or  indirectly  by the
Interested  Stockholder  who is (or whose  Affiliate is) a party to the business
combination or by an Affiliate of the Interested Stockholder, voting together as
a single voting group.  Such affirmative vote shall be required  notwithstanding
the  fact  that no vote may be  required,  or that a  lesser  percentage  may be
specified,  by law, or in any agreement with any national securities exchange or
otherwise.
 
      B. Definition of "Business  Combination".  The term "Business Combination"
         -------------------------------------
used in this Article  TENTH shall mean any  transaction  which is referred to in
anyone or more clauses (i) through (vi) of Paragraph A of this Section 1.
 
      SECTION 2. When Higher Vote is Not Required.  The  provisions of Section 1
      ---------
of this  Article  TENTH  shall  not be  applicable  to any  particular  Business
Combination,  and such Business  Combination shall require only such affirmative
vote  as is  required  by law and any  other  provision  of  these  Articles  of
Incorporation,  if all of the  conditions  specified in either of the  following
paragraphs A and B are met:.
 
      A. Approval by Disinterested  Directors.  The Business  Combination  shall
         ------------------------------------
have been approved by a majority of the Disinterested  Directors (as hereinafter
defined); or.
 
      B. Price and Procedure Requirements. All of the following conditions shall
         --------------------------------
have been met:
 
               (i) The  aggregate  amount of the cash and the Fair Market  Value
           (as  hereinafter  defined) as of the date of the  consummation of the
           Business Combination of
 
                                       13
 
<PAGE> 15
 
 
 
           consideration  other than cash to be received per share by holders of
           Common Stock in such Business  Combination shall be at least equal to
           the higher of the following:
 
                    (a) (if applicable)  the highest per share price  (including
               any brokerage commissions, transfer taxes and soliciting dealers'
               fees) paid by the Interested Stockholder for any shares of Common
               Stock acquired by it (1) within the two-year  period  immediately
               prior  to the  first  public  announcement  of the  terms  of the
               proposed Business Combination (the "Announcement Date") or (2) in
               the  transaction  in which it became an  Interested  Stockholder,
               whichever is higher; and
 
                    (b) The Fair Market  Value per share of Common  Stock on the
               Announcement  Date  or  on  the  date  on  which  the  Interested
               Stockholder became an Interested Stockholder (Such latter date is
               referred to in this Article TENTH as the  "Determination  Date"),
               whichever is higher.
 
           (ii) The aggregate amount of the cash and the Fair Market Value as of
      the date of the consummation of the Business  Combination of consideration
      other than cash to be received per share by holders of shares of any other
      class of  outstanding  Voting Stock shall be at least equal to the highest
      of the  following  (it  being  intended  that  the  requirements  of  this
      paragraph B(ii) shall be required to be met with respect to every class of
      outstanding  Voting Stock,  whether or not the Interested  Stockholder has
      previously acquired any shares of a particular class of Voting Stock):
 
               (a) (if  applicable)  the highest per share price  (including any
           brokerage  commissions,  transfer taxes and soliciting dealers' fees)
           paid by the  Interested  Stockholder  for any shares of such class of
           Voting  Stock   acquired  by  it  (1)  within  the  two-year   period
           immediately  prior to the Announcement Date or (2) in the transaction
           in which it became an Interested Stockholder, whichever is higher;
 
               (b) (if applicable) the highest  preferential amount per share to
           which  the  holders  of  shares  of such  class of  Voting  Stock are
           entitled in the event of any  voluntary or  involuntary  liquidation,
           dissolution or winding up of the Corporation; and
 
               (c) The Fair Market Value per share of such class of Voting Stock
           on the Announcement Date or on the Determination  Date,  whichever is
           higher.
 
          (iii)  The  consideration  to be received  by  holders of a particular
      class of  outstanding  Voting Stock  (including  Common Stock) shall be in
      cash or in the same form as the Interested Stockholder has previously paid
      for shares of such class of Voting Stock.  If the  Interested  Stockholder
      has paid for  shares of any class of Voting  Stock with  varying  forms of
      consideration,  the form of  consideration  for such class of Voting Stock
      shall be either  cash or the form used to acquire  the  largest  number of
      shares of such class of Voting Stock
 
                                       14
 
<PAGE> 16
 
 
 
      previously acquired by the Interested Stockholder. The price determined in
      accordance  with  paragraph  (B)(i) and (B)(ii) of this Section 2 shall be
      subject  to  appropriate  adjustment  in the event of any stock  dividend,
      stock split, combination of shares or similar event.
 
           (iv) After such  Interested  Stockholder  has  become  an  Interested
      Stockholder and prior to the  consummation  of such Business  Combination:
      (a) except as approved by a majority of the Disinterested Directors, there
      shall have been no failure to declare and pay at the regular date therefor
      any full quarterly dividend (whether or not cumulative) on any outstanding
      stock  having  preference  over the Common  Stock as to  dividends or upon
      liquidation; (b) there shall have been (1) no reduction in the annual rate
      of dividends  paid on the Common Stock (except as necessary to reflect any
      such  division of the Common  stock),  except as approved by a majority of
      the  Disinterested  Directors,  and (2) an increase in such annual rate of
      dividends  as  necessary to reflect any  reclassification  (including  any
      reverse  stock  split),  recapitalization,  reorganization  or any similar
      transaction  which has the effect of  reducing  the number of  outstanding
      shares of the Common Stock,  unless the failure so to increase such annual
      rate is  approved by a majority of the  Disinterested  Directors;  and (c)
      such Interested  Stockholder shall have not become the beneficial owner of
      any additional  shares of Voting Stock except as part of the  transactions
      which  results  in such  Interested  Stockholder  becoming  an  Interested
      Stockholder.
 
           (v) After  such  Interested  Stockholder  has  become  an  Interested
      Stockholder,  such  Interested  Stockholder  shall not have  received  the
      benefit, directly or indirectly (except proportionately as a stockholder),
      of any loans, advances,  guarantees, pledges or other financial assistance
      or of any tax credits or other tax advantages of the Corporation,  whether
      in  anticipation  of or in connection  with such Business  Combination  or
      otherwise.
 
          (vi) A proxy or information statement describing the proposed Business
      Combination and complying with the requirements of the Securities Exchange
      Act of 1934 and the rules and  regulations  thereunder  (or any subsequent
      provisions  replacing such Act, rules or  regulations)  shall be mailed to
      public  stockholders  of the  Corporation  at least  30 days  prior to the
      consummation  of such Business  Combination  (whether or not such proxy or
      information  statement  is required  to be mailed  pursuant to such Act or
      subsequent provisions).
 
      SECTION 3.  Certain Definitions.  For the purpose of this Article TENTH:
      ---------
      A.  A "person"  shall  mean any  individual,  firm,  corporation  or other
entity.
 
      B.  "Interested  Stockholder"  shall  mean  any  person  (other  than  the
Corporation or any Subsidiary) who or which:
 
           (i) is the beneficial owner,  directly or indirectly,  of ten percent
      or more of the voting power of the outstanding Voting Stock; or
 
                                       15
 
<PAGE> 17
 
 
 
           (ii) is an  Affiliate of the  Corporation  and at any time within the
      two-year  period  immediately  prior  to the  date  in  question  was  the
      beneficial  owner,  directly or indirectly,  of ten percent or more of the
      voting power of the then outstanding Voting Stock.
 
      C.  A person shall be a "beneficial owner" of any Voting Stock:
 
           (i) over which such person or any of its Affiliates or Associates (as
      hereinafter  defined) has, directly or indirectly (a) the power to vote or
      to direct  the  voting of or (b) the power to  dispose of or to direct the
      disposition of; or
 
           (ii) which such person or any of its Affiliates or Associates has (a)
      the right to acquire  (whether such right is  exercisable  immediately  or
      only after the passage of time), pursuant to any agreement, arrangement or
      understanding or upon the exercise of conversion rights,  exchange rights,
      warrants or options,  or  otherwise,  or (b) the right to vote pursuant to
      any agreement, arrangement or understanding; or
 
           (iii) which is  beneficially  owned,  directly or indirectly,  by any
      other person with which such person or any of its Affiliates or Associates
      has  any  agreement,  arrangement  or  understanding  for the  purpose  of
      acquiring, holding, voting or disposing of any shares of Voting Stock.
 
      D. For the  purpose  of  determining  whether  a person  is an  Interested
Stockholder  pursuant to  paragraph B of this Section 3, the number of shares of
Voting Stock deemed to be outstanding  shall include shares deemed owned through
application  of  paragraph  C of this  Section 3 but shall not include any other
shares  of  Voting  Stock  which  may be  issuable  pursuant  to any  agreement,
arrangement or understanding or upon exercise of conversion rights,  warrants or
options, or otherwise.
 
      E. "Affiliate" means a person that directly,  or indirectly through one or
more intermediaries,  controls,  or is controlled by, or is under common control
with, a specified person.
 
      F.  "Associate,"  when used to  indicate a  relationship  with any person,
means:
 
           (i) Any person (other than the  Corporation or a Subsidiary) of which
      such  person is an  officer,  director,  or  partner  or is,  directly  or
      indirectly,  the  beneficial  owner of 10  percent or more of any class of
      equity securities;
 
           (ii) Any trust or other estate in which such person has a substantial
      beneficial  interest or as to which such person  serves as trustee or in a
      similar fiduciary capacity; and
 
           (iii) Any relative or spouse of such person,  or any relative of such
      spouse,  who has the same  home as such  person  or who is a  director  or
      officer of the person or any of its Affiliates.
 
 
                                       16
 
<PAGE> 18
 
 
 
      G.  "Subsidiary"  means any  corporation  of which voting stock securing a
majority of the votes entitled to be cast is owned,  directly or indirectly,  by
the Corporation.
 
      H. "Disinterested Director" means any member of the Board of Directors who
is unaffiliated with the Interested Stockholder and was a member of the Board of
Directors prior to the time that the Interested Stockholder became an Interested
Stockholder,  and any successor of a Disinterested  Director who is unaffiliated
with the Interested  Stockholder  and is recommended to succeed a  Disinterested
Director  by a  majority  of  Disinterested  Directors  then  on  the  Board  of
Directors.
 
      I.  "Fair  Market  Value"  means:  (i) in the case of stock,  the  highest
closing sale price during the 30-day  period  immediately  preceding the date in
question  of a share of such  stock  on the  Composite  Tape for New York  Stock
Exchange  -- Listed  Stocks,  or, if such stock is not  quoted on the  Composite
Tape,  on the New York Stock  Exchange,  or, if such stock is not listed on such
Exchange,  on the principal United States securities  exchange  registered under
the Securities  Exchange Act of 1934 on which such stock is listed,  or, if such
stock is not listed on any such exchange,  on the National  Market System or, if
such stock is not listed on any such exchange or on the National  Market System,
the highest  closing bid quotation  with respect to a share of such stock during
the 30-day period preceding the date in question on the National  Association of
Securities Dealers,  Inc. Automated Quotations System or any system then in use,
or if no such  quotations  are  available,  the fair market value on the date in
question of a share of such stock as  determined  by the Board of  Directors  in
good faith;  and (ii) in the case of property other than cash or stock, the fair
market value of such property on the date in question as determined by the Board
of Directors in good faith.
 
      J. In the  event of any  Business  Combination  in which  the  Corporation
survives,  the phrase  "consideration other than cash to be received" as used in
paragraphs  B(i) and (ii) of Section 2 of this Article  TENTH shall  include the
shares of Common  Stock  and/or  the  shares of any other  class of  outstanding
Voting Stock retained by the holders of such shares.
 
      K.  "Equity Security" means:
 
           (i) Any  stock  or  similar  security,  certificate  of  interest  or
      participation in any profit sharing  agreement,  voting trust certificate,
      or certificate of deposit for an equity security;
 
           (ii) Any security convertible, with or without consideration, into an
      equity  security,  or any warrant or other security  carrying any right to
      subscribe to or purchase an equity security; or
 
           (iii) Any put, call, straddle, or other option or privilege of buying
      an equity  security from or selling an equity  security to another without
      being bound to do so.
 
      SECTION  4.  Powers  of  the  Board  of  Directors.   A  majority  of  the
      ----------
Disinterested  Directors  shall  have the  power and duty to  determine  for the
purposes of this Article TENTH, on the basis of
 
 
                                       17
 
<PAGE> 19
 
 
 
information known to them after reasonable  inquiry,  (A) whether a person is an
Interested  Stockholder,  (B) the number of shares of Voting Stock  beneficially
owned by any  person,  (C)  whether a person is an  Affiliate  or  Associate  of
another,  (D)  whether  the  assets  which  are  the  subject  of  any  Business
Combination  have,  or the  consideration  to be  received  for the  issuance or
transfer of  securities  by the  Corporation  or any  Subsidiary in any Business
Combination  has, an aggregate Fair Market Value meeting the tests  contained in
paragraphs  A(ii) and A(iii) of Section 1 of this Article  TENTH.  A majority of
the Disinterested directors shall have the further power to interpret all of the
terms and provisions of this Article TENTH. Any such  determination made in good
faith shall be binding and conclusive on all parties.
 
      SECTION 5. No Effect on Fiduciary Obligations of Interested  Shareholders.
      ---------
Nothing  contained  in this  Article  TENTH  shall be  construed  to relieve any
Interested Stockholder from any fiduciary obligation imposed by law.
 
      SECTION 6. Situation in which Inapplicable. The provisions of this Article
      ---------
TENTH shall not be applicable if and when eighty  percent of the Voting Stock is
Beneficially Owned by a single person and his Affiliates or Associates.
 
      SECTION 7. Amendment, Repeal, etc. Notwithstanding any other provisions of
      ---------
these Article of Incorporation or the Bylaws (and  notwithstanding the fact that
a lesser  percentage may be specified by law, these Articles of Incorporation or
the Bylaws) the  affirmative  vote of at least (a)  two-thirds of the holders of
the  outstanding  Voting  Stock,  voting  together  as a  single  class  and (b)
two-thirds of the holders of Voting Stock other than Voting Stock owned directly
or indirectly by the  Interested  Stockholder  who is (or whose  Affiliate is) a
party  to  the  Business  Combination  or  by an  Affiliate  of  the  Interested
Stockholder,  voting  together as a single  voting  group,  shall be required to
amend or repeal or to adopt any provisions  inconsistent with this Article TENTH
or any provision thereof.
 
      ELEVENTH:  The Corporation shall indemnify (A) its directors and officers,
whether  serving the  Corporation  or at its request  any other  entity,  to the
fullest  extent  required  or  permitted  by the  general  laws of the  State of
Maryland now or hereafter in force,  including the advance of expenses under the
procedures required,  and (B) other employees and agents to such extent as shall
be  authorized  by the Board of  Directors  or the  Corporation's  Bylaws and be
permitted by law. The foregoing rights of indemnification shall not be exclusive
of any rights to which those seeking  indemnification may be entitled. The Board
of  Directors  may  take  such  action  as  is  necessary  to  carry  out  these
indemnification  provisions  and is expressly  empowered  to adopt,  approve and
amend from time to time such Bylaws,  resolutions or contracts implementing such
provisions or such further  indemnification  arrangements as may be permitted by
law. No amendment of the charter of the Corporation shall limit or eliminate the
right to  indemnification  provided  hereunder with respect to acts or omissions
occurring prior to such amendment or repeal.
 
 
                                       18
 
<PAGE> 20
 
 
      IN  WITNESS  WHEREOF,  I have  signed  these  Articles  of  Incorporation,
acknowledging the same to be may act as of this second day of March, 1990.
 
 
 
 /s/ Gregg W. Hawes                        /s/ Thomas M.W. Haines
- -------------------                        ----------------------

Gregg W. Hawes