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To: Dale Baker who wrote (23217)	12/12/2000 9:11:00 AM
From: Dale Baker	Read Replies (1) of 118717

Vivendi options - finally figured this one out. The Jun 12.5 calls were reduced from 100 shares each to 20 shares each with the new ADR price. The new strike should be 62.5. So ten contracts of VFV is now ten contracts of ONVFV that say June 12.5 but the effective strike is 62.5, and they control only 200 shares instead of 1000. Someone correct me if that isn't right.

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