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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: B.D. who wrote (26863)	12/11/1998 5:24:00 PM
From: Henry Niman	Respond to of 32384

BD, It sounds like someone is looking to buy some of the outstanding warrants, and I'm not sure about the terms (my info is second hand and it sounds fuzzier than it was initially).

To: B.D. who wrote (26863)	12/11/1998 5:54:00 PM
From: Henry Niman	Read Replies (3) \| Respond to of 32384

I heard about the letter. More details are at: post.messages.yahoo.com@m2.yahoo.com

To: B.D. who wrote (26863)	12/18/1998 7:38:00 PM
From: Henry Niman	Read Replies (2) \| Respond to of 32384

Here are more specifics on the Summit offer for LGNDW: Dear DLJdirect Investor, We are writing to advise you that NOTICE HAS BEEN RECEIVED THAT SUMMIT VENTURE PARTNERS IS OFFERING TO PURCHASE UP TO 2.0% OF THE TOTAL OUTSTANDING WARRANTS (CU#53220K116) OF THE COMPANY AT A PURCHASE PRICE OF $2.125 CASH PER WARRANT LESS ANY DISTRIBUTIONS PAID AFTER 8/31/98. THIS OFFER IS BEING MADE ON A FIRST-COME, FIRST-BUY BASIS. THE PURCHASE PRICE HAS BEEN DETERMINED AT THE SOLE DISCRETION OF SUMMIT VENTURE PARTNERS. THESE WARRANTS ARE LISTED ON A NATIONAL EXCHANGE; THE PROCEEDS FROM ACCEPTANCE OF THIS OFFER MAY DIFFER FROM THOSE REALIZED FROM A SALE ON SUCH EXCHANGE. This offering is due to expire on 12/30/98. If you wish to participate, your instructions must be received by 1:00 PM on 12/28/98. Any instructions received after that time will be entered on a "best efforts" basis. Please contact us immediately by messaging us online or by calling 1 800 825-5723 to let us know whether or not you wish to participate, or for additional information about this issue. Sincerely, Joseph Diaz Assistant Manager of Operations DLJdirect