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To: Daniel Simon who wrote (2199)	8/3/1999 10:52:00 PM
From: Ian@SI	Respond to of 2946

DS., A couple years ago, SVGI was talking about ramping up MicraScan production to 200 units annually. I was doing some back of envelope calculations based upon historic PSRs that indicated that SVGI would achieve a price well in excess of $100. It was in the 20s at that time. Since then, ASML has kicked a lot of butt. And SVGI hasn't added a lot of new customers; or shown any signs of making 200 scanners a year. Oh well, at least they added 1 new customer during the past quarter. Unfortunately it was Maxim. And at best we could expect Maxim to order another 3 or 4 scanners. I'd be overjoyed to see the high 20s again. :-( Yet, from today's close, SVGI probably offers a reasonable opportunity. It's probably one of the few Equipment companies with a strong balance sheet to trade below book. And it's outlook isn't completely dismal. Yet. Ian.