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

To: Rational who wrote (1459)	10/28/1997 10:46:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 2544

Sankar, B&S might be buying, and you are right they have ample time to announce, but CTYS does not have the money. That is all. By the way, the lack of increase in the short position could be due to preclosing (short announcement date) covering by the floorless. Of course, it could also be that the holders of the floorless have no reason whatsoever to want the stock to be lower at the time of their conversion because they love their neighbors as they love themeselves and they would not want to bring such a financial calamity on the poor holders of the common such as massive dilution. They are in business to make money for the common holders nott themselves (VBG). Last, I owe you an apology since my earlier post might have been misconstrued as stating that your statement is nonsense, I meant to say that CTYS buying its own shares at this point of the game seems non-sensical in view of the severe cash shortage they have. You probably meant to say (as you said in the present post) that B&S could step in and buy shares, and that of course is a conjecture which I cannot comment on, it could be possible. If you were B&S would you buy CTYS shares knowing that you are going to face major dilution and uncertaiin financial future? Furthermore, now that B&S is officially a financial advisor to CTYS (to seek alternatives...), it is illegal for them to buy shares for their own account. So if someone connected with the company is indeed acting in a manner you are conjecturing, it has to be someone beside B&S and CTYS. Once again, I truly apologize. I always try to keep my comments to the point and avoid like the plague any personal comments, I must have erred and I am truly sorry. Zeev Zeev