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To: Pure Folder who wrote (3518)	8/4/1998 9:10:00 PM
From: cpa	Read Replies (1) \| Respond to of 11417

The approximate 2,000,000 was dollars not shares, sorry for the confusion. I have not had a chance to go back to the 10-k to try to figure out exactly how many share Alladin still has. I would also need to consult Alladin's 10-k to see what there accounting policies are. When I get a chance (probably not for a week or so) I will do this and report back. When Alladin exercised the last batch of warrants, I was told by Wave and Alladin that this was the last of the warrants that they had. They said that a batch was exercised earlier. I assumed that I was not lied to, but did not research it myself. Hope this helps. CPA

To: Pure Folder who wrote (3518)	8/5/1998 2:55:00 AM
From: Marty Lee	Respond to of 11417

Purefolder please, There's no such thing as ALADDIN in and of itself.. philo 101. From a classical economic perspective, one has only to ask, "who benefits?" before any analysis is undertaken. There are individuals within "Aladdin" that operate their interests diverging from those interests of their shareholders ("exercising" them is the usual way of putting it) though arrangements special to them as insiders. This is not too "complicated" a thing to seeeeeeee.. after the charade of legal forms, smoke and mirrors and such is brushed away. But then again, you know this. I'm just putting it in a way familiar to a Doctor of Economics rather than a Broker of Wall Speak. Are we having fun yet? Marty