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To: Anthony Marks who wrote (1943)	1/15/1998 11:31:00 PM
From: bajaseatrader	Read Replies (2) \| Respond to of 7111

There is no way to know if they are done.I bought stock today because of the slowdown in the momentum of the selling after the 2 big volume days. It looks to me to be a combination of legal and illegal shorts.No way to know this but a guess based on experience. It looked today to be more buyers than sellers. Stock buy backs are great because it reduces the number of shares outstanding thus increasing the earnings per share

To: Anthony Marks who wrote (1943)	1/16/1998 2:13:00 AM
From: David	Respond to of 7111

Anthony, There is no big difference really between Bermuda and non - yes we have to cancel the shares rather than call them treasury stock, but we can always issue more to be used in any share purchase transaction. The key is buying back reduces the number of shares and therefore increases EPS and the individual % of the company that a shareholder owns - this is a way of making a return for the shareholder. For example if buying back some shares increased EPS by 10 cents, and laeving the money on deposit earned 3 cents you would want to buy back. There are numerous arguments for and against this obviously, but this is the basic one. David