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To: Bill Harmond who wrote (145426)	8/14/2002 12:11:29 AM
From: GST	Read Replies (1) \| Respond to of 164684

Bill: Take a deep breath -- there is nothing whatsoever to revise EVER -- absolutely nothing. There is a premium to be assessed at the moment of issue or vesting (a point to be decided by the new accounting board), and the premium is to be expensed on the income statement -- end of story. No revisions to the income statement later. No adding this or subtracting that on the income statement -- nothing to revise -- NOTHING EVER. No income statement issues about what does or does not get exercised -- that is all irrelevant to the income statement. You have two issues -- how to calculate the premium and when to expense it. That's it. Its the premium that is being expensed Bill -- the premium. Get it? It will take a few months to iron out the details. Get ready -- here it comes.