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To: Annette who wrote (19931)	7/5/1999 10:49:00 AM
From: Jor-El	Read Replies (1) \| Respond to of 27722

Can't do anything without the Red Herring. My guess is we should get it sometime before the 19th when Paulson's back in commission. Probably why Paulson went for the surgery cause they knew they wouldn't get the prospectus ready before the 19th. Then add 2 weeks for a roadshow, so I'm looking for the 1st week in Aug for the IPO but we should start our run at Red Herring time. With no news its so easy to speculate the worst (some clandestine deal to screw us all over) but the reality is no matter how much Paulson and we want this IPO until we get it out of the SEC's hands we have to wait and will continue to be at the market and MM's mercy. We have no power to keep our chain from being jerked. But do you think EVEREN and LEGG MASON would let Paulson drag his feet with the timing being so good of IPO's right now. As soon as we get the Red Herring our Underwriters will be working like maniacs to get this thing out to the public so this goose can lay its golden egg.