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Gold/Mining/Energy : GPW Group West Systems Ltd. (Year 2000 Software Company)
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To: Mr. Forthright who wrote (557)4/30/1998 9:33:00 AM
From: Mr. Forthright  Read Replies (5) of 1443
 
Mr. William Ste. Marie
Chairman of the Board, President & C.E.O.
Group West Systems Ltd.

Dear Mr. Ste. Marie:

I am an investor with a strong focus on emerging growth companies. My attention was drawn to your company by reading about Y2000 companies on the Internet. Although I have not invested in any such companies to date, I am seriously considering an investment in that sector. A lot of companies involved in that sector are currently trading at very high valuations as a result of the enthusiasm that surrounds the whole Y2000 problem. Although I believe that some companies big and small will enjoy the benefit of increased business over the next three to four years, I also think that a lot of small investors will get hurt by unscrupulous promoters that are making them believe that the opportunity is larger than it really is.

After reading what was being said on Silicon Investor about Group West and doing initial due diligence on the company, I concluded that Group West was grossly overvalued. I speak with dozens of people from the financial community in Canada and the U.S. every day. After hearing what they say about Group West I now believe that your company may have an opportunity to capitalize on the Y2000 problem and create shareholder value over the next several years. However, should that be the case I am concerned about how the company is being promoted on SI. People on the Internet seem to have 1)more information than they should, or 2)are posting rumours about upcoming transactions. One way or another this is not good for the credibility of your company.

I wish you the best of luck in your different endeavours and recommend that you re-think your investor relations program to ensure that the company develops strong credibility in the financial community and is perceived as being totally non-promotional. I am not suggesting that anybody within the company is active promoting the company on the Internet, but it would certainly be in the company's best interest that the tone of the messages posted on its thread on SI be more constructive.

Yours truly,

Mr. O.B. Forthright

P.S. LD. AH. the speculator, Gary H. will any of you have the guts to fax this letter to Mr. Ste. Marie?
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