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To: Carol S. who wrote (9422)	6/10/1998 11:23:00 PM
From: Bruce Hoyt	Read Replies (1) \| Respond to of 19109

Carol, I'm sure you are right and suspect there is more to the synergy that the two companies will have together. We have not heard the details from Tom on all of Shadow's hints yet. Bruce

To: Carol S. who wrote (9422)	6/10/1998 11:32:00 PM
From: Robert Cullen	Respond to of 19109

Carol, I hope your right, hopefully Tom will fill in the blanks sooner rather than later. Just for info purposes DLJ does not show the news release as of 5 minutes ago. rob

To: Carol S. who wrote (9422)	6/11/1998 12:22:00 AM
From: Don Johnson	Read Replies (1) \| Respond to of 19109

There are many reasons I can think of why ECC would want to be acquired by TMM, and we need to be mighty careful of what can happen. First of all TMM's present market cap is very favorable to ECC and bad for us common share holders on any stock swap. Lack of credible news has gutted the price. Our friend in the shadows warned us of a possible management shenanigan. We could be their next meal, and there are many ways we could get cooked. You can bet we aren't getting millions. There's debt somewhere. We have to be very careful of acquiring debt in an acquisition. Where are we going to get millions to pay off present/future debt? Look at what's happening to ZE's shareholders (see recent news releases and ZE discussions, particularly Bob Utne in Yahoo ZE msgs). LG got majority interest, managed ZE into huge debt, became a lender, and now under a reconstruction plan is cancelling all common shares and gaining 100% of ZE including all of ZE's HTV/other patents, unless ZE shareholders manage to stop their thievery. Our shares in TMM could even all get cancelled legally, and there may be nothing we could ever do about it. Much too early to party.