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To: art slott who wrote (2469)	12/5/1997 12:06:00 AM
From: Sheldon C.	Read Replies (1) \| Respond to of 4676

Art not sure which preferred you are talking about. Right now there are 36M shares registered. Clearwater has $5M of preferred shares and a bunch of warrants. If the stock gets back to about $2.50, then that would equal about 2M more on conversion. Remember, these are approximate numbers off the top of my head which is quickly losing hair over this stock. There are lots of warrants and options outstanding, so we are looking at about 40M shares. Now if you are talking about any future preferred shares, I can't comment. Any help? Sheldon

To: art slott who wrote (2469)	12/5/1997 2:08:00 AM
From: Jaffo	Respond to of 4676

To All: So Unisys is the IT for 41 of the 50 largest banks...wouldn't be surpised if many or all of these banks including Western Bank uses Oracle as well...sorry BG... Hey gang, Unisys is only one of several mighty fine and long coat-tails for NRI. Don't forget Computer Associates, Keytronics, etc. What is encouraging is that the price held up well during the last hour of trading. This may be a sign that Encore's conversion is now history. Wish everybody luck tomorrow. Jaffo....mmmmmmmmmmm, 41% up today, is my bet looking better or what?