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To: Mike Buckley who wrote (38457)	1/26/2001 11:57:37 AM
From: ratan lal	Respond to of 54805

, I'm not sure it's really valid to exclude the write-off from the pro forma at the same time it includes proceeds from the sales of securities. I am not an accountant but providing a reserve is the same as writing off and whatever they recover will then become income.

To: Mike Buckley who wrote (38457)	1/26/2001 12:13:42 PM
From: Thomas Mercer-Hursh	Read Replies (1) \| Respond to of 54805

I'm not sure it's really valid to exclude the write-off from the pro forma at the same time it includes proceeds from the sales of securities Sounds perfectly valid to me. Proceeds are cash. Can't argue with cash being a legitimate part of the balance sheet. Losses from sale are, however, not a part of operating expenses and so validly below the line.