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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: Jacques Tenzel who wrote (25250)	1/25/2002 9:35:16 AM
From: hcirteg	Respond to of 27311

Jacques- I beleive we will see the attendees reaction over the next week or so in the performance of the stock. I hope to see a continuation of the big block trades. HC

To: Jacques Tenzel who wrote (25250)	1/25/2002 11:00:54 AM
From: P. Ramamoorthy	Read Replies (1) \| Respond to of 27311

Jacques, The energy conference was on 1/24/2002. The small price move and block trades could be due to this. No announcement yet. H&Q is actually under JPMorgan. See the link below. jpmhq.com JPMorgan U.S. Equity Conference Calendar (as of 11.28.01) January 7-10, 2002 20th Annual Healthcare Conference Westin St. Francis - San Francisco, CA January 24, 2002 The Energy Technology Conference The Palace Hotel - New York, NY February 21-22, 2002 The Fourth Communications Symposium Ritz-Carlton - Laguna Niguel, CA May 6-9, 2002 30th Annual Technology Conference Westin St. Francis - San Francisco, CA For more information please contact your JPMorgan Representative All JPMorgan H&Q conferences are by invitation only and exclusively for clients of the firm. As conference information becomes available, it will be posted here. Ram

To: Jacques Tenzel who wrote (25250)	1/25/2002 4:06:28 PM
From: John Curtis	Read Replies (1) \| Respond to of 27311

Jacques: I'd of loved to have attended if I'd had the time, but I've been consumed by other issues here lately so haven't really been tracking VLNC that closely. I will say, however, having a couple of buddies at JP Morgan who're on the technical (data networking) side of their house, that'd I'm going to have to give them a call and bust on them. Not over VLNC, since they'd be clueless about it. About Enron. Did you read todays Wall Street Journal about JP Morgans involvement? Here's a excerpt: ******** When J.P. Morgan & Co. set up an energy-trading business in the British Channel Islands a decade ago, the tiny venture barely caused a ripple at the giant bank. The operation, called Mahonia Ltd., consisted of just a small office with lots of phone lines. But the Jersey-based business grew over the years to transact billions of dollars of natural-gas contracts with other energy companies. Mahonia's trading followed a simple pattern: Many of its transactions took place just before year-end. Often, the deliveries of natural gas and oil were sold right back to those who delivered them through complex derivative transactions. And about 60% of Mahonia's trades were with just one company: Enron Corp. The point of the choreographed trading? People familiar with Mahonia say Enron used the transactions to manage tax liabilities by transferring losses in one financial reporting period to another. As Enron's troubles mounted, the Houston company eventually turned to Mahonia as a sort of surrogate bank, these people say, using it to raise at least $2 billion in financing over the years. For J.P. Morgan, the arrangement was lucrative -- at least at first. The bank received as much as $100 million in revenues. It also thought it had insurance in place to cover any default by Enron. But in the wake of Enron's collapse and bankruptcy-court filing, Mahonia could cost the nation's second-largest bank as much as $1 billion. Several insurers have alleged in a lawsuit in New York federal court that the trading transactions were shams, thereby negating the insurance contracts. The bank, now known as J.P. Morgan Chase & Co., disputes the court allegation. Credit-rating concern Standard & Poor's cited J.P. Morgan's overall exposure to Enron as one reason it is reviewing the bank's credit rating for a possible downgrade. J.P. Morgan, which acted as a lender, underwriter and merger adviser to Enron, says the energy concern owes it a total of $2.6 billion. ************ Between the above and Baxter taking the cowards way out, leaving his family to pick up the pieces, this mess just keeps getting bigger, and bigger, and BIGGER. Sorry for the OT. John~