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Non-Tech : Knight/Trimark Group, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Gary Korn who wrote (3454)	8/12/1999 8:25:00 AM
From: Joseph F. Hubel	Respond to of 10027

Gary, I tend to agree with you. Usually a Co. will announce a buy back when the price has been beaten down and the shares are perceived by management to be undervalued. As you say, when the buy back was first announced, the stock price was about $5. On the date it was cancelled, it was about $50 or $100 pre split- far from being undervalued. A buy back at $50 would make no sense, especially if they had a fixed dollar amount set aside for the buy back at or near $5 a share and would serve no purpose. I was not aware a buy back had been in place and I certainly doubt if I were management, I would re purchase the stock after it climbed by 20 times more than when the buy back was first announced. I think this is being looked at by some from the wrong side of the fence. JFH