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To: Ms. X who wrote (21673)	5/7/1998 10:00:00 PM
From: mph	Read Replies (2) \| Respond to of 95453

Looks like they're circling around MIND: \| Thursday May 7, 3:07 pm Eastern Time Company Press Release SOURCE: Law Offices of Steven E. Cauley, P.A. Fraud Lawsuit Filed for Purchasers of Mitcham LITTLE ROCK, Ark., May 6 /PRNewswire/ -- A securities fraud lawsuit was filed in federal court in Little Rock, Arkansas on behalf of purchasers of Mitcham Industries, Inc. (Nasdaq: MIND - news) common stock. The law suit seeks class action status and the representation of all purchasers of Mitcham common stock who purchased their shares between June 4, 1997, and March 26, 1998. The lawsuit alleges that Mitcham, and certain of its officers and directors, falsely stated that the company's growth prospects were dependent on revenues from seismic equipment leasing, rather than equipment sales, and that the company had made adequate provisions for doubtful accounts receivable, knowing that such statements were not true. The lawsuit alleges that Mitcham and its officers sold approximately $35 million in stock before it collapsed in price. The case further claims that Mitcham's share price was wrongfully boosted to a high of $32.875 per share, and when Mitcham finally revealed that its growth prospects were dependent upon equipment sales, rather than leasing, and that it had inadequately provided for doubtful accounts receivable, the share price collapsed to $13.00. The lawsuit was filed by lawyers who are experienced in securities fraud class action cases. If you are a member of the class described above, you may, within 60 days from April 23, 1998, move the court to serve as lead plaintiff of the class, if you choose, and if you meet certain legal requirements. If you wish to discuss this action or your rights or interests, please call or email the attorneys listed below. Steven Cauley or Scott Poynter Law Offices of Steven E. Cauley, P.A. 2200 N. Rodney Parham Road, Suite 218 Little Rock, AR 72212 Toll Free: 888-551-9944 Email: cauleypa@aol.com SOURCE: Law Offices of Steven E. Cauley, P.A. More Quotes and News: Mitcham Industries Inc (Nasdaq:MIND - news) Related News Categories: oil/energy Help Copyright c 1998 PRNewswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. See our Important Disclaimers and Legal Information. Questions or Comments?