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To: fut_trade who wrote (8435)	3/15/1998 11:47:00 AM
From: Michael Collings	Read Replies (1) \| Respond to of 27307

Hi Peter: Thanks for keeping all this info updated. You'll need to increase the shares outstanding as the DEF footnotes show that the 45.8 million number was as of Feb 27 and that 985,682 shares are options that will be "issuable upon exercise of options within 60 days of February 27" (in fact these shares have now been exercised according to news releases this past week). This brings the shares outstanding to 46.8 million. The float is probably also understated because when the shares are exercised a percentage will be used for the exercise price and taxes that will be due. Figure half are probably in the float. Doesn't it bother the longs how the insiders are getting these huge amounts of stock at the expense of shareholders and they sell them almost as fast as they get them? They have to be some of the best paid execs in the country!