Actually, clients of Crabbe Huson firm now own almost 10% of IPIC as per second filling. They own no shares.
Item 4. Ownership.
(a) & (b) Due to a reorganization effective October 1,
1998, Crabbe Huson Group, Inc. became the beneficial owner of the Issuer. The
aggregate number of shares owned beneficially by the reporting person as of
October 21, 1998 is 3,927,400 representing 9.39% of the outstanding common
shares.
(c) The aggregate number of shares of the Issuer
beneficially owned by each reporting person is set forth below:
Crabbe Huson Group, Inc. does not directly own any shares of the Issuer. It
shares voting and dispositive power with respect to the 3,927,400 shares owned
by approximately 73 of its clients.
Item 5. Ownership of Five Percent or Less of a Class.
N/A
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
N/A
Item 7. Identification and Classification of the Subsidiary which Acquired
the Security Being Reported on By the Parent Holding Company.
N/A
Item 8. Identification and Classification of Members of the Group.
Crabbe Huson Group, Inc. disclaims beneficial
ownership of all shares owned by each of its clients and also disclaims that a
"group" within the meaning of Rule 13d-5(b) under the Securities Exchange Act of
1934 has been or will be formed.Item 9. Notice of Dissolution of Group.
N/A Item 10. Certification.
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose of and do not
have the effect of changing or influencing the control of the issuer of such
securities and were not acquired in connection with or as a participant in any
transaction having such purpose or effect.
Signature.
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true,
complete and correct.Date: October 30, 1998
--------------------Crabbe Huson Group, Inc.By: /s/James E. Crabbe
------------------ James E. Crabbe President |
