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To: alydar who wrote (50618)	10/4/2000 7:11:33 PM
From: johnd	Read Replies (1) \| Respond to of 74651

The securities carry an annual 5% interest payment and also are repaid in full by the issuer when they mature."

To: alydar who wrote (50618)	10/4/2000 7:12:28 PM
From: johnd	Read Replies (1) \| Respond to of 74651

The securities carry an annual 5% interest payment and also are repaid in full by the issuer when they mature." So what is the problem?

To: alydar who wrote (50618)	10/4/2000 8:00:38 PM
From: John F. Dowd	Read Replies (1) \| Respond to of 74651

blisenko: Conertible preferreds seldom mature. I doubt that these have a sinking fund either. These prefereds are not like a bond and therefore have no maturity. It would be interesting to see what the covenants are regarding this prefered are. Many times certain bad events trigger special treatment or privleges for the preferred holder i.e. like the sale of assets, debt ratios, etc. A preferred stock however unless it is callable and/or has a sinker does not mature. JFD