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To: John J. Thrall who wrote (649)	3/3/1998 1:32:00 PM
From: Mark	Respond to of 1394

John, If it's all sooooo bad, it makes you wonder why Lehman Brothers would have posted a "Buy" in the last two weeks...... (After all it's not like you'd expect an analyst to look closely at all the numbers, or anything :-) And yes, I'll bet the cable lobby is strong...... can't see that influencing the WSJ any...... :-) And it's not like the government is currently angry at the cables having too much control....... And it's not like DISH (and the other DBS companies) would be a good way to break that monopoly........ (I'd love to be able to read the full article, but copies of the WSJ aren't too common in the UK ! It sounds to me that this article has a slightly vested interest ! Yup, DISH has lots of debt, but that's normal for a high cap venture like this. The roll-out is going very well, and it's amazing how quickly that debt will fall once DISH hit the subscriber levels. As someone who has seen the successes (and failures) of DBS in Europe, I think DISH has got it right). Me sell ? No, I think not........ Mark p.s. Thanks for writing up the key points.

To: John J. Thrall who wrote (649)	3/3/1998 4:45:00 PM
From: Mark	Read Replies (1) \| Respond to of 1394

John, Well, we've closed on a $3/4 drop and volume at 200k-ish. At the worst point today we were down 1 3/4 at 19 3/4, but we levelled quite quickly at 20 7/16 before rising at the close back to 20 3/4. It seems that this WSJ article has done all the damage that it's going to do, and whilst there might be some more fallout tomorrow, I'd certainly expect things to be back to normal (i.e. upwards !), by Thursday. The conclusion I came to after thinking about this is "Do we know anything more today than we we knew yesterday ?". The answer, of course, is no. So what has happened today is that some small investors, who maybe hadn't appreciated the "reality" of DISH, were spooked by an article that showed things in a harsh perspective. I'm sticking by the Lehman analyst (plus my own instinct, and those of the other longs here !). Mark