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To: Jeff Leader who wrote (47382)	7/29/1999 1:39:00 PM
From: Joan Osland Graffius	Read Replies (1) \| Respond to of 53903

Jeff, >> Intel bought their rights at $31 5/8? Are they free to sell at any time, or is there a lock-up period? They're looking at a nice double right now. Intel can take out insurance right now and guarantee the double. I don't think they care when they sell. Now the big question is when do they start selling, it will be a great time to own puts. My bet is Intel will use this asset to prop up their earnings when needed, like they recently have with the mutual fund portion of the business. <ggg> Joan