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To: Dale Baker who wrote (15755)	2/13/2000 9:27:00 PM
From: David Smith	Read Replies (5) \| Respond to of 118717

Tell you what, smart guy...you just stick to managing that high-profile "Irish Life International E-Fund." Is that a nickname for your IRA? Public servants whose salary I pay are now running money from godforsaken, third world cesspools like Bosnia and calling themselves "money managers"...fascinating. I'm going to tell some of my friends who are convinced the crash is coming to take a look at your profile; it's about to convince ME. Your contention that institutions won't touch a stock under $10 convinces me your AREN'T one, don't know any, and have no clue what an institution IS or how they work. FYI, institutions are NOT just funds like Fidelity Magellan. There are HUNDREDS of institutions investing in companies not only under $10 but under under FIVE bucks and under TWO bucks each day...it's called venture capital, private placements, distressed investing, among about 10 other types...including plain vanilla microcap and small cap mutual funds, and aggressive hedge funds who play in the under $5 area each and every day. Institutional holdings in INAI are "minimal"?? Huh? Last time I looked, THREE high-profile institutions owned about 1.7 million shares. SAP (yes, the company) owns almost 2 million shares. An outside director bought over a million shares last year. If you're done writing press releases for your day job (which you should NOT quit) I'll leave it to you to put your experience as a "money manager" to work and figure out what percentage of the float all that is. Before you do that, please explain how and why your beloved NSATF had a massive infusion of institutional cash around the $2.50 level last November if stocks are usually untouchable at that price level. Game, set, match........