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To: carl a. mehr who wrote (61910)	8/6/1998 3:51:00 AM
From: Paul Engel	Read Replies (2) \| Respond to of 186894

Carl - Level 3 Comunications I don't know anything about Level 3 - however, from reading their Web SIte, the company was formed from Peter Kiewet & Sons Construction Co. I believe Warren Buffett's Berkshire Hathaway Crorp. is located in the Kiewet Building (or a building owned by the Kiewets) in Omaha, Nebraska. That's not real helpful, but that's what I know. There is a company with a similar name - Level One Communications - based in Sacramento, CA. Intel has announced a joint development effort recently with Level One for Gigabit-speed communications: pubs.cmpnet.com Paul

To: carl a. mehr who wrote (61910)	8/6/1998 11:49:00 AM
From: Mary Cluney	Read Replies (1) \| Respond to of 186894

Carl, >>>** Off Subject<<< Basically, the investment is in the character of the people involved, specifically, Walter Scott and James Crowe. These are highly ethical, home spun, Warren Buffett-like hicks, who normally take on and beat the city slickers at their own game. Investors in Walter Scott backed projects usually make a lot of money. Their last big score was with MFS Communications which they sold to Bernie Ebbers (I believe)at World Comm. MFS and their shareholders made a ton of money. As for LVLT the stock splits tomorrow. But, the real story is that they have a lot of cash, a terrific business plan (build fibre optic network using IP technologies) , people that have proven abilities to execute a business plan, and management that cares about increasing shareholder values. If you are a value investor, a la Warren Buffett, then this investment is not for you. But, if you have some spare cash available, willing to wait, and to take a chance - then this is a fairly interesting situation. I bought some when they were a BB stock and have put away some shares for the long term and will try to find some trading ranges (between 30 and 40 - after the split tomorrow) to play with on some other shares. Regards, Mary