Anthony @ Equity Investigations, Dear Anthony, Message Board

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To: steve host who wrote (9555)	2/7/1999 9:10:00 AM
From: jjs_ynot	Read Replies (1) of 122087

Shouldn't the implied value of UPC to UIHIA be discounted by the negative book value of $27 per share and the tax implications of selling the UPC stock? How much of the debt load is being rolled into UPC? How much will UIHIA earnings change with the spin-off of 37 percent of UPC? Will it go from -$11 per share to -$7 per share since UIHIA will still own 63 percent?

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