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To: Ahda who wrote (21521)	10/13/1998 1:45:00 PM
From: Don Green	Respond to of 116762

> Silence is golden..?? but can also be due to panic.. regards Don

To: Ahda who wrote (21521)	10/13/1998 2:22:00 PM
From: Alex	Read Replies (1) \| Respond to of 116762

US PRESS: US HEDGE FUND UNLOADS MORTGAGE-BACKED SECURITIES LONDON (MktNews) - Another U.S. hedge fund seems to be in financial trouble, the New York Times reported Tuesday. Ellington Capital Management of Old Greenwich, Conn., has unloaded "hundreds of millions of dollars" in mortgage-related securities in the last few days, according to the report. The paper said the firm appears to have been forced to liquidate many of the holdings in its hedge funds in response to margin calls from its lenders. It is said to be developing a plan with some of its lenders that would allow it to remain in business. According to the report, the firm confirmed it had been selling many of its holdings but it declined to comment specifically on the events of the last few days. A spokesman for the firm was quoted as saying the firm was "involved in a concentrated effort to respond to liquidity constraints in the mortgage-backed securities markets." The firm "conducted an orderly sale of certain of its holdings that will produce proceeds far in excess of dealer-financing claims on those securities when cleared," the spokesman was quoted as saying. 07:10 EDT 10/13 © 1998 Market News Service, Inc. economeister.com