(LVLT) - Level 3 Communications Message Board

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Technology Stocks : (LVLT) - Level 3 Communications

LVLT 53.63

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Nov 1 5:00 PM EST

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To: DavidG who wrote (321)	3/12/1998 6:51:00 PM
From: Larry Fowler	Read Replies (1) of 3873

As for US Bank.. they may be acting as custodian for existing shareholders.. meaning that not all of the 15MM share have to be accounted for as purchases. Some simply be transfers into trusts, etc. that are held in the bank's name.. As to who is selling.. I talked to the buyer from the first pink sheet transaction last October.. it was a mutual fund family.. they have reached their price target and are paring their position back to a percent of the portfolio that meets their policy for a long term hold.. but they don't account for more than about 250K shares. Also we must remember that there are a lot of people who have become very wealthy, very quickly.. when you own several hundred thousand shares of a stock that has gone from $10 in Jan 97 to $60 in Mar 98, you don't sweat $5 or $10 per share, if you think it is best to diversify from a one stock portfolio. Larry Fowler

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