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To: epicure who wrote (51019)	8/28/1998 11:39:00 AM
From: ViperChick Secret Agent 006.9	Read Replies (2) \| Respond to of 58727

a brokerage house bought 2000 puts on the Morgan Stanley Index... and Insana saying that is when it turned around to the downside today.... ------------ Business Wire - August 28, 1998 08:45 SAN FRANCISCO--(BUSINESS WIRE)--Aug. 28, 1998--BankAmerica Corporation (BAC) said today that as a result of volatility in global financial markets it has incurred quarter-to-date trading losses (including net interest income associated with trading activities) of approximately $220 million. Year-to-date trading-related income was approximately $315 million. The losses were incurred primarily in the Russia Federation and were the principal factor in reducing the company's total Russia Federation exposure from $412 million at June 30 to approximately $100 million at August 26. BankAmerica reported net income of $1.725 billion through the first six months of the year and had total assets of $264 billion at June 30.