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To: SargeK who wrote (53685)	10/29/1999 10:01:00 AM
From: SargeK	Read Replies (1) \| Respond to of 95453

Holloway and Friede Goldman Halter - FGH The following posted on YAHOO FGI: "In calculating SE for FGH, I sacrificed specificity for simplification and clarity. The $269.7m FGH SE/39.8m FGH shares provided an approximate, simplified BV of $6.77 a/o 6/30/99. I was attempting to determine the significance of Holloway's opening remark regarding the merger: “''Creating shareholder value is the foremost job for management” biz.yahoo.com In a nutshell, using FGI stock as currency, Holloway purchased HLX SE at a huge discount due primarily to disparities between Market Valuations and Asset accounting. The merger was anti-dilutive because the real assets gained far outweighed the number of shares used in the acquisition. My question was: “What will he do with the increased assets?” I think he succinctly provided the answer (above). As the single largest stock holder in Friede Goldman Halter (FGH), it is in Mr. Holloways personal best interest to increase Market valuation. I have no doubt he can and will do so." GO Holloway! SargeK

To: SargeK who wrote (53685)	10/29/1999 10:24:00 AM
From: SargeK	Read Replies (2) \| Respond to of 95453

Puzzled by Lack of Volume on FGI and HLX Following yesterdays merger approval, I thought volume would go through the roof on these two issues. With both companies selling at extreme cyclical lows, I thought owners of HLX would dump, take an early tax break and buy FGI and vice versa. The 30 day Wash Sales Rule shouldn't apply since the merger will not by officially consummated until next week. HLX currently @ 5 3/8 on 9.7k shares traded and FGI @ 9 3/4 on 18.4k shares traded with the discount @ 3.4%........ partners.freerealtime.com What have I missed??????/