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Gold/Mining/Energy : Unitec Int. Controls Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Richard Saunders who wrote (399)	5/21/1998 9:38:00 PM
From: John B. Smyth	Respond to of 856

Chris' observations were positive and related to the progress of the Company. He inferred that the U.S. investor was perhaps more aggressive in the speculative areas and recommended that we focus some effort towards building a bigger U.S. shareholder base (the last list of registered shares showed >4M held by U.S. brokerage houses). The sincere questions were related to project financing, which I answered regarding our bad experience with BDC, current financing and outlined the offers to finance that we are currently considering. I made an offer to purchase Britton's escrow shares, which they rejected. I don't believe they are planning to do anything with them at this juncture. Regards, JBS

To: Richard Saunders who wrote (399)	5/23/1998 10:49:00 AM
From: John B. Smyth	Read Replies (1) \| Respond to of 856

Richard: further to your question regarding Chris' observations and comments, last night I saw his latest write up on Unitec: Unitec International Controls May 21, 1998; #9817: Major Shakeup in the works. He discussed the items at our AGM in his news letter update and makes some very astute observations. I was impressed. He has a keen insight into matters and his speculation was right on the money. He sent it the previous evening for my review, but I was attending a late evening Directors Meeting and didn't have a chance to review it before he released it. I think it may have been responsible for the heavier buying and upward movement yesterday. Regards, John