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Biotech / Medical : IGEN International

IGEN 0.0001000

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Mar 7 3:00 PM EST

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To: John Zwiener who wrote (323)	4/16/1998 1:52:00 PM
From: James Perry	of 1025

Well, the good news is that the report reads very nice. And the better news is that it pretty well reflects the beliefs and conclusions that you and I have long held. If any bad news can be found, I would guess that it would likely be found in the fact that the present price pretty well reflects the probable limit of what one would pay in anticipation that a settlement of the suit is going to produce a nice stock profit. Even that is not bad news, though, because it doesn't take a rocket scientist to realize that if a right to sell a part of a company's technology is worth that kind of money, then even if a settlement dealt away some limited part of the right to sell that technology there still is a VERY substantial part of the company that will remain, after the ink dries on the settlement agreement. I really like the value which such a settlement implies the remainder of the company would be worth. It is BIG! And he is bullish on Wohlstatler? I have said repeatedly that the man is handling this lawsuit like a master. The way he has captured and held the value for shareholders deserves high commendation!!

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