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Technology Stocks : SYQUEST

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To: Jim Lou who wrote (1497)	2/15/1997 12:13:00 AM
From: Dale Stempson	of 7685

Feb. 14 is a very important day for many Syquest employees. Today they find out how many shares of SYQT they will receive under one of Syquest's new "benefit" plans. It seems that management has been doing everything imaginable to raise more cash. Their latest gimmick is their "1997 Accrued Vacation Exchange Plan" where employees convert vacation time into Syquest common stock. Today (Feb. 14) is the excercise date for this plan. The conversion value is arrived at by determining the average closing price of SYQT for the previous ten business days (Jan. 31 through Feb. 13), and then taking 85% of the result. It seems that as many as 100 employees today converted as much as 12,000 vacation hours into SYQT shares. (Syquest management had already registered another 300,000 shares to fund the plan). Dilution by 300,000 more shares will hardly be noticed, right!? Plus, isn't it good to know that management is working so hard at reducing liabilities!?

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