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To: Sarmad Y. Hermiz who wrote (7774)	1/12/2000 11:00:00 AM
From: LK2	Respond to of 9256

RE-why is SEG reserving $88 million for taxes? Sarmad, there can be, and often is, a big difference in accounting reports to the IRS and to the stockholders. It's perfectly legal. I'm not an accountant, but I've read many times, that reported earnings (or losses) can be adjusted in many ways. Unless you have a strong accounting background, you probably can't reconcile the taxes paid/deferred with the income report to the stockholders, especially when there are all these special gains and losses to account for. People (including the professionals) have been complaining about the the accounting rules forever. Just like with the tax rules. Regards, Larry