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Non-Tech : Simula (SMU)

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To: Richard Silvers who wrote (1160)	6/10/1998 10:00:00 PM
From: Noblesse Oblige	Read Replies (3) of 1671

HI Richard.... My best guess is that Scudder is the seller. You can safely assume that they liquidated at least 200,000 common in the past two trading days. Their total picture was (to my recollection) about 650,000 common, clearly an unwieldy position that their portfolio manager has decided to prune back at least a bit. It isn't yet clear whether the Fund is intending to liquidate the entire position or just a portion. However, some time in the next couple of weeks, senior managers will go on the road to meet with a series of funds. Assuming the story is well accepted, what Scudder has left to liquidate will be viewed as an odd lot. (By the way...the only important event at today's annual meeting was a question from the floor on the likelihood of a spinoff of the Automotive Safety Division. As I understand it, Townsend said it was under consideration and had been discussed for the past year, and would be a topic at the day's Board meeting. If the company announces that it is "considering" the spinoff, Scudder will be able to sell the entire balance of its position up three with nary a problem.) Have a good evening.

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