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Technology Stocks : Safeguard Scientifics SFE -- Ignore unavailable to you. Want to Upgrade?

To: John Arnopp who wrote (1113)	2/17/1998 11:47:00 PM
From: KatayamaGorobei	Respond to of 4467

Hello all, I believe they said they bought about 300,000 shares of USDC, about 100,000 shares of CVSN (not including the Centocor purchase), and about 80,000 shares of OAOT. I have to agree that all the news sounded positive, and it seemed to me that Pete Musser liked the idea of 4 offerings per annum, but Mr. Caldwell seemed a little more cautious. Regards,

To: John Arnopp who wrote (1113)	2/17/1998 11:47:00 PM
From: David Lawrence	Read Replies (1) \| Respond to of 4467

John, you may recall my earlier comments that I would have to liquidate my account that holds SFE shares (due to a corporation that is being liquidated). Based on my belief that SFE learned from a couple of mistakes (USDC and, to a lesser extent ISCG) I went ahead and purchased in a different account almost the equivalent of the shares I'll be selling next month. Safeguard has been pretty good to me, so I've decided to stick around. The downside is that the liquidating shares carry a $4.76 cost basis and will trigger some pretty significant capital gains. Beats the alternative though! David

To: John Arnopp who wrote (1113)	2/17/1998 11:53:00 PM
From: William R. Polk	Respond to of 4467

What I heard in the conference call is that in the last 6 months they have purchased 145K shares of CVSN, 360K of USData and 87K of OAOT. In addition they will shortly (this week) close on the purchase of 962K shares of CVSN currently owned by Centacor(?). My question is: are these new purchases (except for the Centacor purchase) reflected in the current portfolio as reflected on SFE's web page (data as of 12/31/97) or are then in addition to? I thought management seemed extremely relaxed and confident in the call. Bill

To: John Arnopp who wrote (1113)	2/18/1998
From: michael r potter	Read Replies (1) \| Respond to of 4467

John, My notes from the call indicate SFE purchased 145,000 sh. of CVSN, 360,000 sh. of USDC, and 180,000 sh. of OAOT. They also said they purchased 900,000 sh. of CVSN from the company that was holding CVSN shares [a publicly traded company that I didn't catch]. When Pete Musser says that the future has never looked better, he means it and I would agree. One of the special virtues of SFE is that not only are they innovative and extremely competent, they care about the "little guy" and cut him in. A rare combination. Mike Potter

To: John Arnopp who wrote (1113)	2/19/1998 1:32:00 PM
From: ncs	Read Replies (1) \| Respond to of 4467

>>>>>>OFF TOPIC<<<<< John, You seem to like to analyze stocks, look at Loews (LTR). They have a NAV of about $91 on their holdings of CNA, DO and BULV. Additionally they appear to be sitting on $35 in liquid investments (as of the end of last quarter) and have cigarette and lodging interests besides which appear to be worth approx. $24/share. All told, I peg their value at around $150/share yet the stock is selling for around $100. If you have the time, I'd appreciate you thoughts on this stock as I've been sitting on it for the last six months waiting for it to pop up, yet it's been dead money. TIA Neil