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Gold/Mining/Energy : Unitec Int. Controls Inc. -- Ignore unavailable to you. Want to Upgrade?

To: dale w ruckle who wrote (114)	1/25/1998 12:05:00 PM
From: csm	Read Replies (1) \| Respond to of 856

Dale, >> fridays' trading mirrors the vse syndrome these sellers are lining up for the current private placement. Sorry, but I don't understand what you are saying in your post. Would you mind clarifying for my benefit? Thanks. Stuart.

To: dale w ruckle who wrote (114)	1/26/1998 3:58:00 PM
From: John B. Smyth	Read Replies (1) \| Respond to of 856

I'm not sure which "monster order" was being referred to. We did not give up any "orders", but did decline to bid on several multi-million dollar bids. One was a $100M (World Bank Budget) project that could have yielded $30+ Million in business to Unitec. We declined to enter as a JV partner with a major North American utility for two reasons. The first being that we could not finance that scale of a project, and the second being that we did not have the capability to mobilize our resources in the time frame even if we had the money. We are in a similar situation now, where we have 5 companies seeking to JV a $200+M SCADA system with a considerable potential Unitec content. We are in preliminary discussions with one potential partner that could provide the capital and management resources to support us. However, time is against us and I think we will ultimately pass on it in favour of several smaller projects in the $2 - 10 Million range which we are more comfortable with and are not such a stretch for us.