To: rod runyan who wrote (2524 ) 10/7/2000 1:39:19 AM From: Mark Oliver Read Replies (1) | Respond to of 2702 <P. S. The price, which was considerably higher in the spot market when i received this offer has indeed come down to the $3.00 level and below. Last trade though was 3 15/16.> Yes, that seems to be my sell order which was put in with a limit of 3 11/16. I decided to sell 1/3 of my shares at least because the tax loss seems to be more valuable than the opportunity that the shares can go up. I read these letters from the New Management and they are probably as good as one can expect, but ultimately we need reassurance that the business is providing a valued service which provides some sort of growth opportunity. It seems likely that the market in general doubts the business model. That many metrics of growth were simply fabricated and they can't judge the future of this company any longer. So, somehow it seems to me that any statement of the future must include some tangible expression of the state of sales and new contracts. Otherwise, it is more of an autopsy than a exciting display from an emerging growth company. Finally, I will say that when I attended the Wireless Symposium in March, this show was entirely made up of companies selling components. Vari-L was there and I spoke to them getting a feeling that they had a tremendous demand and great opportunity. Perhaps more important, speaking to other companies both in the VCO market and lateral businesses, they all said Vari-L had first class products and was a leading edge player. So, it would seem, if this were true, there still exists great opportunity. But, as long as we are sitting in limbo waiting for the details of the great fraud that has been played out, there seems to be little chance of getting much advantage from holding VARL shares. Regards, Mark