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Technology Stocks : Safeguard Scientifics SFE -- Ignore unavailable to you. Want to Upgrade?

To: goro who wrote (3134)	6/23/1999 5:23:00 PM
From: michael r potter	Read Replies (2) \| Respond to of 4467

Ron Small, I think you are correct about them raising the offering price. Goro, Could you please explain "....5B-3 Billion=xxx." Also, if I am "missing the estimated value of private holdings which will go public in the future." could you enlighten as to what you think the market will pay for the future offerings discounted to the present in terms of addition to NAV, and reasons for same. Would love to be convinced otherwise, but so far, the market agrees with the pre-opening comments of fully valued at yesterdays closing price of $64 3/8. Up until last fall the market paid next to nothing in discounting the future value of private holdings [including ICGE]. I don't think that will happen again, even when ICGE is the major component of NAV, but would like to see numbers supporting the case for the market paying substantially more than $11 or so above a NAV of say $53 [which in itself may be based on an optimistic hypothetical of ICGEs post IPO trading pattern and contribution to NAV]. Mike