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To: Eric Wells who wrote (79382)	10/2/1999 5:08:00 PM
From: Eric Wells	Respond to of 164684

Ebay S-3 update: another SI member was kind enough to forward me a link to FreeEdgar.com where I could find a copy of Ebay's 9/30/99 S-3: freeedgar.com My understanding is that the S-3 details the registration of shares that can be sold from "time to time" by the shareholders - so it is uncertain when and how the sales will actually take place. Ebay is registering 15,931,734 shares of stock par value $.001 per share at a proposed maximum offering price of $137.625 per share. This amounts to $2.19 billion at that price. The following is the list of shareholders involved in the registration: Butterfield & Butterfield shareholders Shares: 663,682 Amount: $91 million Date of B&B purchase: 5/28/99 B&B purchase price: 1,327,370 shares Registration as % of Purchase Price: 50% Kruse Inc shareholders Shares: 692,834 Amount: $95 million Date of Kruse purchase: 5/18/99 Kruse Purchase price: 787,312 shares Registration as % of Purchase Price: 88% BillPoint shareholders Shares: 504,236 Amount: $69 million Date of BillPoint purchase: 5/25/99 BillPoint Purchase price: 525,000 shares Registration as % of Purchase Price: 96% alando.de.AG shareholders Shares: 295,474 Amount: $40 million Date of alando purchase: 6/15/99 aladno purchase price: 316,000 shares Registration as % of Purchase Price: 94% Benchmark Capital Shares: 13,775,508 Amount: $1.89 billion Benchmark total holdings before sale:17,375,508 Sales amount as percent of total: 79% I'm not an expert at interpreting S-3 data - but I would think that the above data is a bit bearish. I would appreciate other views. Thanks, -Eric