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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Chisy who wrote (7913)	2/4/1999 9:29:00 PM
From: FMK	Read Replies (2) of 27311

To all- I spoke briefly with some attendees of the meeting. My impression is that it went very well. Films were shown of the equipment in operation and all could see for themselves that the factory was making batteries. Lev explained how far ahead we are with the large (laptop) batteries. The competition invariably uses cobalt, and danger with cobalt increases with battery size. Their system of connecting large numbers of canisters for battery packs will not be able to compete with Valence's manganese oxide technology. When asked if about the January 27 deadline, Lev commented that he could have accepted a contract before that time if he needed to, and that the deadline was extended and terms improved by Castle Creek because Valence otherwise would not have taken the additional money from them. I heard that some attendees met for a beer afterwards and that all in the group intended to increase their positions! I regret that I was unable to attend. We should look forward to posts from those who did. IMO the longs should sleep better tonight.

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