| BRLI is the largest independent clinical lab in the New York area and provides services in 17 states. The stock currently trades at
 1 11/16 and sells for a p/e of just 9. Here is a copy of the last
 earnings report from 9/15:
 
 3 Mos. to July 31:
 1997
 1996
 Revenues
 9,814
 8,928
 Net bef. tax
 413
 280
 Income tax
 46
 ---
 Net income
 367
 280
 *Sh. earns.
 $0.05
 $0.05
 
 9 Mos.:
 
 
 Revenues
 29,064
 25,912
 Net bef. tax
 943
 376
 Income tax
 53
 49
 Net income
 890
 327
 *Sh. earns.
 $0.14
 $0.06
 
 BRLI is expected to release their next earnings report in the next
 two weeks. I would expect that the company could easily trade for
 5-6 dollars based on valuation alone. The company is not very well
 followed but is rapidly growing in an important biotechnology area.
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