Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Anthony@Pacific who wrote (60842)	10/18/2000 6:11:15 PM
From: Sabrejet	of 122087

Hey AP, good to see you back! One question for you: I own shares of LCOS and if the merger is completed with Terra, I will have a choice of either the ADR's or the ordinary shares out of Madrid. How do I sell those ordinary shares from here??!!! BTW, the conversion is stated to be 2.15 shares of TRRA or the ordinary for every one share of LCOS. That puts the values at either ~$46.00 on the adr's and/or ~ $65.00 if I take the ordinaries.(including euro exchange rate) Any opinion on this?? The spread between the adr's and the ordinaries is about $8????? The difference has me puzzled and other than the bet the deal will not go through, I can't figure out why the ADR's and ordinaries are so far apart. BTW, an announcement was made yesterday stating the deal is on and expected to close by the end of the month. All parties involved were quoted. Sabre!

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