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To: James Strauss who wrote (4998)	5/18/1998 10:59:00 PM
From: Phil Jacobson	Respond to of 7006

Jim, While the exercise per se doesn't matter, it does matter what he did with the resulting shares. If he added them to his long position that's considered by Insider Chronicle as good news, but not as good as a CEO who simply buys shares on the open market. If he sold the resulting shares, it's considered bad, but not as bad as if he would be if he decreased his net long position. In addition, it's also important to look at what happened when the insider has bought and sold shares in the past...what did the next 3-6 months have in store for the stock. Phil