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To: Dan Packer who wrote (3222)	3/11/1998 6:05:00 PM
From: Jonathan Cleveland	Read Replies (1) \| Respond to of 7054

DA

To: Dan Packer who wrote (3222)	3/11/1998 7:57:00 PM
From: Andrew Q. Viet	Respond to of 7054

Companies from time to time do buy back their shares to reduce the float if: 1) Their stock prices are undervalued 2) They have more than enough cash for ongoing operations 3) To build up confidence among investors, especial when undergoing a barrage of attacks by short artists who use false allegations, untruths, halftruths,innuendo. 4) to refute that all allegations are absolutely false and to give a financial picture of the company to the investment community, which is healthy ( otherwise they wouldn't use money to buy back their shares) 5) Their fundamentals are strong 6) Next quarter will be very strong, and the shorts will have to run for the hill.

To: Dan Packer who wrote (3222)	3/11/1998 8:04:00 PM
From: Z man	Respond to of 7054

CNBC did a piece on this about a week or two ago. Sorry I only got a summary, but basicly they said most corporation who announce stock buy backs end up not buying...if that helps. I have seen companies announce what they bought the day after the purchase.. KEG did that recently. Some announce it with their quarterly results. I guess the key here is the word "may ". This gives them the option.