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To: Sleeperz who wrote (2624)	5/24/1998 11:30:00 PM
From: BMWIN	Respond to of 5827

Reading page 12 of the Ballard Management Proxy Circular, it indicates that, as of Dec 31, 1997, Mr. Umedaly had options (exercisable, but not yet exercised) totalling 110,102 or $10,418,699. This being the case, I would suggest that 3300 shares no longer appears significant.

To: Sleeperz who wrote (2624)	5/24/1998 11:45:00 PM
From: BMWIN	Read Replies (1) \| Respond to of 5827

To be honest with you, I never read this part of the circular until tonight. But after reading it, it tends to give me a warm and fuzzy regarding management's attitude toward the company. Page 12 is rather enlightening. Let's just say that it appears to indicate that Rasul has $17 million dollars worth of exercisable options, Umedaly has $10 million, Otto $4 million, Steck $6 million and Weiner $400,000. I feel better. Note: this does not include the unexercisable options nor the options offered for 1998.