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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (27082)	3/30/1998 7:02:00 PM
From: don ryndak	Read Replies (1) \| Respond to of 132070

Michael, I am looking for some comments regarding Crescent (CEI). I have looked into their track record, the quality of the properties, the LT growth opportunity, and their valuation against other REITs. I don't mind getting paid a div. While I am waiting for stock appreciation. I really like the guys that run this show. I know that their are some tax issues coming up re: paired share, but it appears that Crescent skinned the cat a little differently by spinning off the operating company arm as a "paper clip" structure which lets them replicate the advantages of the paired share arrangement. Would you comment on CEI and COPI, the operating properties arm. As a side bar, I understand that the woman that runs Rainwater's portfolio just gave 25 large (mil in this case) to the South Carolina School of Business. don ryndak ps Utah is my sentimental favorite tonight. I think that this is his last hurrah at Utah and its just nice to see somebody different in the the big one. Kentucky will be back.