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To: jbe who wrote (22669)	5/23/1998 6:31:00 PM
From: Slava Chechik	Read Replies (1) \| Respond to of 95453

JBE, WEBS symbols are: EWA EWO EWK EWC EWQ EWG EWH EWI EWJ EWM EWW EWN EWS EWD EWL EWU. WEBS are not better or worse then mutual funds, they are just different. Differences about the sane as between US mutual funds and US indices. Also mutual funds could be involved in currency hedging. It could add to your return if they are successful or can cause substantial losses. In a closed end funds premium /discount are meaningless IMO. I can not get a NAV price unless fund converts to an open-end fund. It may make you fill better to buy at discount, but price could go up/down and discount will stay the same. Look at GER it went from $10-11 in 1994 to $ 17 in 1998 discount stayed about the same. Another problem with WEBS is a tiny volume for many of them. Which means you may not get out when you want to. I buy/sell stock in a phone company, bank, OIL COMPANY, etc as a proxy for a specific country. For example: VIP, LUKOY for Russia, TI for Italy, TMX for Mexico, etc About MITTS, when it sounds to good to be true it probably is. What is the reason for Merrill or somebody else guaranty you all upside and no downside and not make a penny for themselves? What is expense ratio and volume of those securities? They can simply have a big spread on those securities in order to make money. Regards, Slava Chechik