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To: KLP who wrote (652)	5/16/2000 2:23:00 AM
From: KLP	Read Replies (1) \| Respond to of 753

Also, thought this might be an interesting bit of news to watch....just to see where it leads... KLP Saudi Prince to Unveil New Investments May 16 1:17am ET WASHINGTON (Reuters) - Saudi billionaire Prince Alwaleed bin Talal, who recently invested $1 billion in U.S. technology stocks, on Tuesday will announce new investments totaling another $1 billion, USA Today reported on Tuesday. The paper said investments Alwaleed made in recent weeks included stakes in brands such as Coca-Cola Co, McDonald's Corp and Ford Motor Co, as well as cyberspace pioneers such as Amazon.com Inc, eBay Inc and Internet Capital Group Inc. The prince began buying last fall, but completed the 15-stock transaction during April's market tumble, USA Today reported. ``I bought a lot of companies on Nasdaq, old economy, new economy,'' it quoted Alwaleed as saying. ``There's still a lot of opportunity in America now, but you have to be careful.'' All major stock market indices are well below their 52-week highs. The bellwether Dow Jones industrial average has lost 11 percent; the tech-rich Nasdaq is down 31 percent. Alwaleed's largest single purchase was a $200 million stake in telecommunications giant WorldCom Inc, but he also bought $150 million worth of AT&T Corp, according to the USA Today report. None of the new investments was large enough to require disclosure under Securities and Exchange Commission regulations, the paper said. USA Today quoted the prince as saying that he was publicly disclosing the investments as a courtesy because of his ''stature nationally and in the Middle East.'' ``It's important to have the public know that slowly, but surely, I am shifting from old economy to new economy (stocks),'' he says. Alwaleed, 43, a nephew of Saudi Arabia's King Fahd, was ranked last year by Forbes magazine as the richest businessman outside the United States. Alwaleed told Reuters last month, after his last round of investments, that he was taking a cautious approach to the sector and would not be swept away by the dotcom frenzy. Last month, Alwaleed disclosed investments in America Online Inc, computer firm Compaq, Eastman Kodak Co and Xerox.