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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: John Curtis who wrote (1290)	11/7/1997 2:49:00 PM
From: FMK	Read Replies (2) of 27311

Hi John, Re your comments on Don W.'s $80 to $100 projection, I just spoke with an analyst who paid the $1600 admission to the AEA conference and attended one of Valence's presentations. Having followed the company for 2-3 years, it is the first time he has ever heard definite, positive and unqualified statements such as "WE WILL BE THE DOMINANT PRODUCERS OF LAPTOP AND CELLPHONE BATTERIES IN 1998" The first laptop batteries will be CD-Rom drive size. As mentioned briefly during a prior conf call, to solve quality problems with raw materials from outside vendors, the company has installed three of their own "coaters"(to make laminate material) for a combined capacity of 60 million cells per year in the Ireland plant. I would infer that this translates to 20 million per line. The wall and foundations for the Korean plant are now poured and they expect to begin shipping product from the first two of six lines during the first quarter of '98. Their Chemists and Engineers are presently being trained in Ireland. As you recall, neither the Korean or Alliant production was included in Red Chips's equation! It was also mentioned that the Alliant Tech joint venture has made some impressive progress with military applications. I will need to clarify a note regarding some recent developments. He also mentioned that he stood next to a well-known, highly-regarded editor of a California Stockletter ($450/yr to subscribe) during a separate discussion and could tell that the editor was equally impressed. Having heard this, I believe we should hear a decisively more positive tone during the Nov 12 Conference call with yet more evidence that it is all coming together! Regards, FMK

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