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Biotech / Medical : Catalytica Energy Systems, Inc. (CESI) -- Ignore unavailable to you. Want to Upgrade?

To: Stu Bishop who wrote (1504)	8/3/2000 11:21:14 AM
From: E*Trader	Read Replies (1) \| Respond to of 1514

CTAL is downgraded by Analysts this morning

To: Stu Bishop who wrote (1504)	8/6/2000 2:32:01 PM
From: WTMHouston	Read Replies (1) \| Respond to of 1514

Looks like the only folks that will be making significant money on this deal are management (with their low priced options) and MSCP (who got all of their shares at $4 a share). Have there been any details on how many shares on CCS will be spun off. It looks like the great unknown will be the market value of CCS -- the higher it is, the lower the cash payout because of the tax bite. I wonder what CTAL's basis is in CCS? At first glance, I am glad that I got out of the last of my shares at $14+. But, I thought about buying some back while it was sub $10: wish I had, I think. Troy