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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Anthony L. Califano who wrote (8464)	9/23/1998 8:33:00 PM
From: md1derful	Read Replies (1) \| Respond to of 22640

AC: Steve should be able to help you on this...he is our man, the ultimate beautiful person!!

To: Anthony L. Califano who wrote (8464)	9/24/1998 12:12:00 AM
From: Steve Fancy	Read Replies (14) \| Respond to of 22640

It would be my feeling that TBR now represents the sum of the 12 Baby Bra Preferred shares in Brazil. As you can see from my program tonight though, there's about $1 discrepancy. Based on the Brazilian RCTB40 receipt (TBH equivalent without the crazy premium) the sum of the Baby Bras should have been 78.15, yet my program came up with 79.16 and the ADR closed at 78. This bugs me...possible one of the babies traded after the last RCTB40 and US ADR trade I suppose. Let's see how it comes out tomorrow. sf