SAP A.G. Message Board - Msg: 1979866

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Technology Stocks : SAP A.G.

SAP 238.96

-2.5%

3:59 PM EST

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To: fred douglas liebling who wrote (71)	8/15/1997 1:52:00 PM
From: Ibexx	of 3424

Hi Douglas, I bought SAPHY, a kind of ADR of SAP, rather than directly from the Frankfurt exchange. I believe--could be slightly off here as I haven't checked recently--the ADRs usually take currency exchange issues into consideration. However, as I said before, the growth appeal of SAP much more outweighs any currency affect. Besides, SAP draws its revenues in US dollars from some parts of the world, and the picture gets too complex for outsiders to track. I worked for a large German firm of multinational status (much bigger than SAP), thus I have some concepts as to the currency issue. Ibexx

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