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To: michael r potter who wrote (1647)	9/17/1998 1:44:00 PM
From: John Arnopp	Read Replies (1) \| Respond to of 4467

Michael, Regarding your question, does anyone think the Who? vision rights will begin trading with any significant value? I think people should look at the whole, which is quite extensive and complicated: XL Vision, which also owns 20% of Axcess, Inc. (AXSI, axsi.com), the healthcare/security business of National Registry (NRID, saflink.com), and the still private Integrated Visions is the incubator spinning off Who? Vision Systems. I think much of W?V's value will come from this group as a whole, not just by the company alone. To the extent that any one of these companies gets significant contracts, I think you can expect to see the other public companies react favorably. I also wouldn't rule out a conglomerate forming at some point. I expect the commencement announcement next week. --John