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To: Ron McKinnon who wrote (20780)	9/23/1999 8:10:00 AM
From: Larry S.	Respond to of 53068

HHH - initial price should be about $106/sh - don't know how they enforce the 100 sh round lot requirement, might be for initial purchase. Once starts trading, how does AMEX enforce that. This is basically a publicly traded unit trust, and MER will continue to buy more shares of the underlying companies. Interesting thought that this ran up the nets yesterday, may well have. Will create additional buying pressure if becomes popular and MER needs to buy more shares to create new shares. Likely will trade at slight discount to NAV. Think of it more like the QQQ, NAS 100 Index trust. Except this will be more internet concentrated. Will be nice way to trade the net. Should be shortable. I understand that IPO's cannot be shorted in first 30 days, but this really isn't an IPO- its a publicly traded unit trust. Should be nice. Pick up couple hundred shares for each of the grandkiddies and put them away for their college fund? ggg. Larry