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To: diana g who wrote (31399)	11/3/1998 11:50:00 AM
From: marc chatman	Read Replies (1) \| Respond to of 95453

SE Asia is still in bad shape, from everything I hear. Business is still contracting, with the exception of a few small pockets of activity. Forget any new credit. People I speak with are still looking out a year or more before things start to get back to "normal." Some of us from time to time take improvement in the stock markets to signify improvement in the business climate. We've witnessed nice bounces off the recent bottoms in most of the SE Asian markets, but those markets are so small that they can be moved by a handful of well coordinated fund managers or by a few words from someone like Barton Biggs. My feeling is that demand in Asia may move up very modestly in the next several months, but no significant moves for awhile. (Pretty much the same thing everyone else is saying.)