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To: John Hunt who wrote (16853)	10/27/1998 6:10:00 PM
From: robnhood	Respond to of 18056

<<"I think the Government should at least sell some of the stocks to reduce the equities investment>>> To whom??? <<g>

To: John Hunt who wrote (16853)	10/27/1998 9:10:00 PM
From: robnhood	Read Replies (2) \| Respond to of 18056

<<<NEW YORK, Oct 27 ( Reuters ) - China's Guangdong International Trust and Investment Corp. ( GITIC ) , a financial institution, has not made a coupon payment on a $200 million bond issue due Monday,a spokeswoman for Chase Manhattan Bank, paying agent on the transaction, confirmed Tuesday. ''Chase has not received payment. Thus, we have not made payment,'' said the spokeswoman. She declined further comment. A coupon payment of 8.75 percent payable semi-annually on the bonds due 2016 was due on Monday. The 20-year bond had been sold in the U.S. in the 144A market through underwriters Merrill Lynch & Co. in 1996. The Chinese government closed GITIC on October 6 due to its inability to repay maturing debts and government officials have said claims against GITIC could be registered up to January 6, 1999. Beijing has said it will not bail-out non government institutions. GITIC has been the first major casualty of the government's new policy. >>>> Someone said they had heard Chase has given them a 10 day grace period...