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To: irkarki who wrote (158)	2/9/1999 3:33:00 PM
From: steve host	Read Replies (1) of 489

It's all a play on UPC no matter what numbers you use. If the IPO is a complete flop and just stays at say $35 you get $50 a share UIHIA value (not dealing with any other assets, etc), even including dave_s's supposed 25% discount. I'll bet my money with UPC, MSFT, Barrons, Goldman, Morgan. the risk is all on the short side.

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