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Biotech / Medical : Cistron Biotechnology(CIST)$.30 -- Ignore unavailable to you. Want to Upgrade?

To: Walter Morton who wrote (1566)	11/3/1998 6:00:00 PM
From: Rudy Saucillo	Read Replies (1) \| Respond to of 2742

Well, PMC bought 1.3 million shares for a million bucks. That's 75 cents a share (and obviously is what CIST believes is a minimum value for their stock). Also, the transaction was executed on Oct. 30, just as the schedule given in the 10-K stated. I don't believe there was any delay. Rudy

To: Walter Morton who wrote (1566)	11/3/1998 6:01:00 PM
From: Dr. John M. de Castro	Read Replies (1) \| Respond to of 2742

PMC bought 1,333,333 shares and received 666,667 warrants for a total of $1 million. If you figure that the 1,333,333 shares cost .75 then they got the warrants for nothing. If you figure that the warrants are worth .25 then the shares sold for .625 each. Regardless, when the warrants are converted CIST will have received $1,166,666.75 for 2 million shares or .583 per share. In their initial announcement of the agreement that the agregate sale would be above .48 and it is. John de C