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To: The Phoenix who wrote (10)	9/13/1999 5:15:00 PM
From: Jerry Catalfo	Respond to of 1225

Here is an excerpt from IPO.com on your chances of picking this up at the offering price...... How can I purchase shares at the offering price? It is very rare that the individual investor has the financial clout to participate in an IPO; however, with the advent of online brokerages, it is now becoming somewhat easier for the individual investor to participate. Examples of online brokers which are moving into the business of offering IPO shares to average investors are: Charles Schwab, Fidelity, DLJ Direct, E*Trade, and Wit Capital. Each has its own investor requirements, but these tend not to be as strict as those of Full Service Brokers. For Full Service Brokers, high-net worth accounts tend to get the most chances to buy IPO stock. Big underwriters like Lehman Brothers, Merrill Lynch, Morgan Stanley Dean Witter, and Salomon Smith Barney accept individual accounts, but only for very large accounts. Either an Online Broker or Full Service Broker must be part of the Syndicate in order to have the ability to offer shares of any particular IPO. In either case, the likelihood of an individual investor obtaining shares of an IPO is still, at this time, difficult.