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

To: corey haber who wrote (5144)	10/17/1999 12:51:00 AM
From: Gary Korn	Read Replies (1) \| Respond to of 10027

Some random thoughts: After FY98 numbers were complete and known (i.e., by mid-January), the 1998 earnings of 48 cents/share supported a stock which then traded at about 20, for a trailing p.e. of 41.6. After FY99 numbers are complete and known (i.e., by mid-January), the 1999 earnings will be about 1.19 (I'm using the low end of current estimates for comfort). If the same trailing p.e. applied, NITE would trade in mid-January at 50. If a trailing p.e. of 30 applied (KP's projected growth rate), NITE would trade in mid-January at 35. If a trailing p.e. of 20 applied (33% less than KP's projected growth rate), NITE would trade in mid-January at 24. If a trailing p.e. of 18 applied (40% less than KP's projected growth rate), NITE would trade in mid-January exactly where it closed on Friday, 22. Gary Korn

To: corey haber who wrote (5144)	10/17/1999 12:54:00 AM
From: Gary Korn	Read Replies (3) \| Respond to of 10027

Some (more) random thoughts: Effect of 30 percent growth rate (KP's number) going forward, with a p.e. of 30: If NITE's earnings in 2000 are 30% greater than 1999, then the earnings will be about 1.56. At that time (the beginning of 2001), if NITE has a trailing p.e. of 30, the stock would trade at 47. If NITE's earnings in 2001 are 30% greater than in 2000, then the earnings will be about 2.03. At that time (the beginning of 2002), if NITE has a trailing p.e. of 30, the stock would trade at 60. Effect of 30 pct. growth, with p.e. of 20: If NITE's earnings in 2000 are 30% greater than 1999, then the earnings will be about 1.56. At that time (the beginning of 2001), if NITE has a trailing p.e. of 20, the stock would trade at 31. If NITE's earnings in 2001 are 30% greater than in 2000, then the earnings will be about 2.03. At that time (the beginning of 2002), if NITE has a trailing p.e. of 20, the stock would trade at 41. Gary Korn