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To: Joan Osland Graffius who wrote (47057)	7/11/1999 12:30:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 53903

Joan, mostly because the short position did not increase enough, I am sure they did a partial hedging, but I am not sure they could have done the whole "shabang", only 15 MM shares are short, that would mean that all shorting was the two of them, but that short position in the 15 MM range has been sitting like that for quite some time. The stock was above %67, for something like 2 to three weeks, I believe, and the volume was in the 5 MM roughly on a daily basis, if memory serves. Zeev