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To: Mike Winn who wrote (1767)	11/21/1997 1:20:00 PM
From: Michael A. Gottesman	Read Replies (1) \| Respond to of 60323

Mike W.: Did we yet determine whether the 3 mil secondary offering is calculated in the daily volume. No answer to my e-mail to IR at SNDK. I would think that the reason the stock keeps popping up a little and then immediately back to 28 the past couple of days is because the offering is not yet fully sold. Perhap the underwriters are playing games to keep the stock price around the area set for the offering. In any event, until the offering is completely sold, I don't expect much movement up or down (even when the market is up for the past several days). Mike G.

To: Mike Winn who wrote (1767)	11/21/1997 1:40:00 PM
From: Jerome Wittamer	Read Replies (1) \| Respond to of 60323

Thanks for the infos from H&Q regarding SIPs and value of equity in JV semi-manufactg facilities. It'll be very difficult to factor that into my model but the outcome is a raised earnings estimate. The future looks so bright, please if anyone sees a major flaw in our line of reasoning (throughout the last 10 days of the thread), tell us! This stock could be worth a lot more than $60 in 1998. If MMC starts to kick in quickly and early, we'll fly! I tell you Mike, you retire in 18 months!