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Strategies & Market Trends : Telebras (TBH) & Brazil
TBH 0.730-1.3%3:59 PM EST
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To: Steve Fancy who wrote (1265)3/20/1998 2:12:00 PM
From: Steve Fancy   of 22640
 
Sent the following email to TBR today, will post any response.

Subject: Monthly earnings
Date: Fri, 20 Mar 1998 14:06:08 -0500
From: Steven Fancy <smfmlf@centuryinter.net>
To: investors@telebras.com.br

Hello,

I have been trying to understand where the monthly earnings stand. I don't know if these monthly earnings were released as a courtesy or they are required in Brazil, but I became accustomed to watching for them. I have a couple of questions.

1) I had expected to see month 1 or January earnings about the end of
February. Has this practice been discontinued or are you just running
behind? Assuming the latter, can you please speculate when January
earnings will be published, and a rough time frame to expect February
earnings?

2) Initial press releases suggested that the actual advisor contracts
might be signed as soon as mid-march. Can you please update me on where this stands?

3) Can you speculate as to when we may see clarification on how the
ADR's will be handled on privatization? Can you tell me whether or not the NasDaq market is considered a partial solution?

4) Can you tell me if TBR will be split and begin trading as separate
entities before privatization?

I appreciate the opportunity to participate via the ADR's and feel
very positive on the future of the company and your country. Here in
the US though, news can be hard to come by. I appreciate your time and look forward to your response.

Thank you,

Steve Fancy <smfmlf@centuryinter.net>
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