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Technology Stocks : Verity (VRTY)

VRTY 2.400

0.0%

Dec 22 4:00 PM EST

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To: Don McCauley who wrote (711)	4/10/1998 12:40:00 PM
From: Nick Arnett	of 1011

Sbona's company signed on for an additional 12 months earlier this year. I don't recall exactly when it was, but Gary announced at an internal meeting earlier this year that Regency Pacific (his company, which employs the management team that's running Verity) had signed up for another 12 months. After the meeting, I asked him if Wall Street was aware of this; he said the company didn't plan to volunteer the information, but if anyone asked, it was fine to tell them. It was clear to me that for the most part, the Regency Pacific team was very happy at Verity and believe that they can complete a very strong turnaround. I recall that Gary was quite disappointed last quarter when the stock didn't react much at all to numbers that showed the company was getting back on track after the previous quarter's disaster; I suspect that's one reason they decided to stay on. He's probably quite happy that the market is showing confidence now. I would expect the details in the upcoming 10Q, which will be filed next week if history holds. Nick

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