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Gold/Mining/Energy : BPI Industries Ltd (BPR-VSE)

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To: Francis R. Biscan Jr. who wrote (224)	3/5/1999 3:01:00 PM
From: Clifford A. Brown	Read Replies (1) of 355

Rich, thanks for the detective work. I am puzzled that management would issue such a poorly worded NR. What appears to announce the issuance of 450K NEW options/shares is in reality something very different. It looks to me like management views the NR process merely as a perfunctory step required by the VSE, when various circumstances arise. Isn't the spirit of the NR process to keep investors both informed and 'on the team'? My 'loyalty barometer' continues to plummet. CAB

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