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Technology Stocks : PSIX up 26.5%, Takeover(?) -- Ignore unavailable to you. Want to Upgrade?

To: Curtis Gruber who wrote (1915)	1/25/1998 12:10:00 PM
From: Christopher McCleary	Read Replies (2) \| Respond to of 5650

Members of this group: I just joined when I was advised by one of the institutional holders of PSIX that these threads were enlightening and insightful. They were correct, this discussion group is very knowledgable and very insightful. I would like to reiterate one element of our plan at this point. USi set a target of $10 based on a premium over the Monday close and the 100 day moving average. It was not an insult and not meant to be an insult.(USi repsectfully apologizes to anyone misreading our intentions) It was an proposed option, that can be taken or not taken. USi was requesting that PSI defer the issuance of 10 million additional shares until the existing shareholders had a chance to make a decision as to whether they would like to avail themselves of the option; prior to taking a huge dilution. But PSI elected to deny the shareholders the abiltiy to chose. Again the $10 target was based on last monday's close. We were prepared to evaluate increasing the target relative to the market price. Christopher McCleary Chairman and CEO USinternetworking, Inc.