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Biotech / Medical : Alfacell (ACEL)
ACEL 9.800-2.2%Nov 24 3:59 PM EST

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To: leighton stallones who wrote (643)8/20/1997 12:31:00 PM
From: John Jenco   of 1533
 
Leighton -- In principle, I agree completely with you and that facts should be presented correctly. My statements concerning comments I attributed to Gail's presentation at the last shareholder's meeting were taken from notes which I made during the meeting. If I misheard or misunderstood, then I stand corrected. Anyone else in attendance at the last meeting have a recollection on these matters?

On the subject of HG&W, I am unfamiliar with their company, but respect your opinion and accept it as a recommendation. Again, my apologies for any misunderstanding. My intent was merely to point out that it was not the recommendation from a leading brokerage or one of the larger investment banking houses upon whom I believed we were focusing our efforts.

My intent, and I believe the intent of all those who have contacted me to voice their support over the last several months, has always been to find a way to work collaboratively with ACEL management to improve the shareholder's postion with repect to ACEL as an investment. As I have said, I am encouraged by ACEL management's recent shift towards soliciting shareholder input and improving communications with shareholders. I am certain that the dialog which Gretchen and yourself will develop with Gail will prove exceedingly valuable over time.

I strongly believe in, and support, the value of Onconase and simply want to see evidence of a business approach that gives greater emphasis to shareholders, both in communication and investment value. I am confident that if we continue to try to find a way to work effectively together, Onconase and ACEL will eventually get the market validation and respect that the technology deserves. Thanks, again, for your perspective. I hope this clears up any misunderstandings. --John
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