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To: Zebra 365 who wrote (13127)	11/28/1997 10:46:00 PM
From: Marconi	Respond to of 18263

Zebra: Re: off-filing-sheet transactions. How distant must the private equity partner for swapping be?? A fellow company officer--I doubt it--they would have to report. A spouse--dicey, maybe if separately filed and managed through third parties in trust. Friendly banker, investment advisor, money man, or fellow club member---there is a big universe of them out there for the Mr. King's. How would the public know or understand if this particular transaction for 100,000 shares had been previously laid off at a significantly greater gain previously through off-filing-sheet transaction(s)? I think that is tax return information, which is strictly private. Could Cayman's be involved--they have a record of aggressive investment strategies. I do not know of any way to know this information unless it is volunteered. It is however within the realm of an SEC investigation into allegations of false or misleading statements. They have rights to access IRS and other government records. I would think even if the transaction is a wash or near wash, it must be reported on tax returns by the option holder, and the other party(ies) would have a mirror report on their tax filings. Maybe this would be an addendum CR might place with the SEC. Best regards, MDR