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Technology Stocks : SEEC, Inc. (SEEC)

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To: Nanda who wrote (756)	7/6/1998 9:16:00 AM
From: Ron Sirch	of 1031

Nanda - I'm back from our trip through Europe. Thanks to all those who were asking over the weekend. We were doing just fine until Thursday. Was tied up in a lot of catch-up work and I was happy to see the board active and the stock doing ok. Was really pleased on Wednesday when the stock hit 13 and if I had a little more time I would have posted some comments to express some thoughts about how it looked like we were finally starting on our way back. I am deeply saddened about Thursday's shocker, but glad I don't have to suffer the further indignation of explaining a positive post the day before. My theory on Wednesday's action is just a guess. Word may have gotten out that a big announcement was in the works and the assumption was that it would be positive. That feeling even existed on Thursday morning, at least on my part, while the stock was halted pending the announcement. I have been very cautious with this market. I sold many of my positions before I left for Europe and left with the highest cash position I've ever had (about 80%). Kept two substantial stock positions, SEEC and ADVH, and some small positions in a few other stocks. I was right about this being a dangerous market even though the averages have recovered nicely over the last month. If you think SEEC's decline was bad, you have but to look at ADVH for some comfort. Both stocks seemed secure with good earnings, low PE's and great prospects. I guess I just didn't dig deep enough with what I had thought was rather extensive DD. I hope you all listened to the tape of the conference call on Thursday. It won't give you the answer as to what to do next but at least you heard Ravi's thoughts on the near and long term prospects. To those of you who followed my feeble effort to pass on solid fact-based information - while trying to minimize the hype - I must apologize. A few weeks ago I was frustrated because it seemed I had been 100% right about the company but wrong about the stock. That at least left room for a brighter future. Now the future is clouded and each of you will have to decide what to do. Once again, my sincere apologies to those feeling the financial pain from all this. Sincerely, Ron Sirch

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