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Non-Tech : National Affiliated (NAAC)

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To: The Pope who wrote (29)	9/9/1997 5:41:00 PM
From: The Pope	of 88

These guys send out the weirdest press releases. biz.yahoo.com "It and it's constrolling stockholder" have signed a letter of intent to buy an insurance holding company they can't name. Doesn't say when, doesn't say who, doesn't even identify its "controlling stockholder" (presumably The Southern Group). But it will generate .37 per share earnings. 9 million shares outstanding x .37 = $3.3 MM They're buying a company that will generate $3.3MM in earning for $7.5MM? That sounds like a pretty good deal. Let's all charge in!

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