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To: Alomex who wrote (135746)	12/14/2001 12:17:24 PM
From: H James Morris	Respond to of 164687

Couldn't agree more with the risks a first mover can have. I also hope GENU eventually makes a profit themselves, because I bought it on its IPO @ 11, and still haven't sold any of its shares. Ps Genu issued too many shares. >>NEW YORK, June 27 (Reuters) - Genuity Inc. (NasdaqNM:GENU - news), a GTE Corp. (NYSE:GTE - news) subsidiary, on Tuesday raised about $1.9 billion after selling 173.9 million shares at $11 each, below the target price range. The Internet infrastructure services company had anticipated pricing its shares between $12 and $15 each, said lead underwriter Morgan Stanley Dean Witter & Co. Genuity, based in Burlington, Mass., said it would use the money raised in its initial public offering to expand its network and for general corporate purposes. Last year, Genuity posted about $750 million in revenue and $626.7 million in net losses. America Online Inc. (NYSE:AOL - news), the U.S's No. 1 online services provider, accounted for about 52 percent of Genuity's revenue in 1999, Genuity's prospectus showed.