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To: Johnny Canuck who wrote (35733)	12/31/2001 3:15:55 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 67766

Midway Games (MWY) 15.02 -0.25: -- Before Open -- Gerard Klauer Mattison lowers their FY 2002 EPS estimate to $0.70 from $0.76 and their FY 2003 EPS estimate to $0.90 from $0.95 to reflect a recent follow-on offering. Firm notes that after exercising the over-allotment, MWY raised net proceeds of approximately $72.9 mln through the sale of 5.175 mln shares; proceeds will be used to fund development of games for the new consoles - PS2, Xbox, GameCube and Game Boy Advance - as the company enters the software growth phase of the new platform cycle. Gerard Klauer Mattison reiterates their BUY rating on MWY and their $19 price target and believes the company, with its strengthened balance sheet, remains a compelling long-term play on the current-generation cycle.