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To: Mike McFarland who wrote (520)	12/12/1997 9:05:00 PM
From: Don Earl	Read Replies (1) \| Respond to of 686

Hi Mike, I assume they used the money to pay expenses and/or converted to US dollars as the company had cash on hand at the time. It was a payable on demand with variable interest rate deal. I'm guessing the situation last month where Hong Kong raised short term interest rates to defend their dollar was done to protect against this type of situation. I don't really understand the strategy involved in currency trading but since it seems to have a huge impact on stock markets, I figured I better start learning. Another thing that crosses my mind is; are companies using Asia as an excuse for a bad quarter or is the situation really something that would affect earnings this quickly? Kind of like last spring when everyone blamed the UPS strike if they missed estimates. Regards, Don