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Non-Tech : Cityscape Financial (CTYS) -- Ignore unavailable to you. Want to Upgrade?

To: JPM who wrote (1261)	10/21/1997 11:54:00 PM
From: Rational	Read Replies (1) \| Respond to of 2544

JPM: Where have you been so long? I fully agree with you. BS knows what it is doing. It is a major shareholder (3.3 mil as of June 30) plus more if they bought. They have given $300 mil warehousing loan at LIBOR+125bp... CTYS is not dead. It is squeezed due to the current problems. It has been the envy of other subprime lenders like FPFG!! Sankar

To: JPM who wrote (1261)	10/22/1997 2:08:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 2544

JPM, I am not sure wwhat "dead" is, but if the stock drops to $1.5, the next step will be asking the stockholders authorization for an additional 100 MM shares. At $1.5/share the $75 MM or so of floorless will convert to an additional 50 MM shares, bringing the toalt to 90 MM, and leaving only 10 MM for other corporate needs. Zeev