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Technology Stocks : Safeguard Scientifics SFE

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To: John Arnopp who wrote (2032)	11/29/1998 11:02:00 AM
From: robert miller	Read Replies (2) of 4467

John, We have stated many times that SFE earnings are not a true reflection of the company's condition. As long as they hold a significant stake in TLAB this will be more true than ever. SFE will take the TLAB gain or loss each quarter. With a base of $40 they would now show a gain of about $40 mil. This may be more or less by the end of the quarter. Also, TLAB sales will confuse the issue. This is one reason I believe they will sell of their TLAB position rather quickly. bob

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