Nope, you don't have one if you've got a distributor. The CPS is used on the Distributorless Ignition System (DIS) cars such as the early 90's 4-cylinder cars. Check the code listings and see if there's an alternative explanation for the code that pertains to the 8-cyls.
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Jeff Chambers
Trophy Stock #3
11.462 Seconds / 117.43 MPH
Chambers Racing Team