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To: Bob Kim who wrote (129588)	8/3/2001 9:37:44 AM
From: H James Morris	Read Replies (1) \| Respond to of 164684

Bob, do you have an opinion of Sanford Bernstein (a division of SEI investments)? >Sanford C. Bernstein & Co., Inc. (Bernstein) is an independent investment counselor established in 1967. They provide research to institutions and manage individual, pension, foundation and endowment accounts. Sanford Bernstein employs a value approach to managing equities in the United States and abroad. Bernstein's investment philosophy is value-oriented, where value is defined as the relationship between the current price of a security and its future earnings power and dividend paying capability. Bernstein believes that investor preoccupation with near-term economic, industry or company specific events creates distortions between the market price of a security and its intrinsic value. Bernstein capitalizes on these distortions utilizing intensive fundamental research coupled with a highly disciplined valuation process to identify undervalued securities.

To: Bob Kim who wrote (129588)	8/3/2001 8:47:09 PM
From: Victor Lazlo	Respond to of 164684

no argument there.

To: Bob Kim who wrote (129588)	8/4/2001 12:05:31 AM
From: H James Morris	Read Replies (2) \| Respond to of 164684

>03 Aug 18:10 In July, Merrill Lynch settled an arbitration case brought by Debases Kanjilal, a former client who claimed he was misled by a bullish stock call from analyst Henry Blodget, for $400,000. The settlement was seen as potentially paving the way for similar actions by other disgruntled investors. But The Wall Street Journal reported Friday that some legal specialists doubt such litigation poses a huge threat to the securities firms' financial health. Legal experts say the suits' allegations of fraud could be difficult to prove because the plaintiffs are attempting to use novel legal theories. The suits must prove that the positive recommendations had a significant impact on the stocks' price; the recommendations have traditionally had a small impact. Investors should be cautious, experts say, given the difficulties of the cases, as well as the limited potential damages and settlements that are likely to be small. -Susan Willetts; Dow Jones Newswires; 201-938-5388 (END) DOW JONES NEWS 08-03-01 06:10 PM