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To: Tibor who wrote (366)	12/17/1998 10:19:00 AM
From: Joe Master	Respond to of 378

I don't know if that is the case or not. But somebody with a clue should be managing this company.

To: Tibor who wrote (366)	12/17/1998 7:51:00 PM
From: Shelia Jones	Respond to of 378

Hi Tibor, Been watching myself - even traded it twice (buying at close - selling soon after open). Out now though as patterns have a way of changing just when you think you can see them... My take is that there have been some large block buys (in the 40K to 10K range). The last two days these have happened in the morning - which is why the Market Maker is raising it up on open to pull in the shares. These block buys have occured at the high of the day. Drifts down from there. Money flow is decidedly negative. With the volume drying up the daytraders may be moving on.

To: Tibor who wrote (366)	12/17/1998 11:27:00 PM
From: John M. Gelnieau	Read Replies (1) \| Respond to of 378

Tibor, Following the Board's rejection of the SBL bid at $40 in June, the company adopted (due to heavy shareholder pressure) an amendment to its poison pill which says that a bid above $40 cash or a bid 140% above the average closing price of the previous 20 trading days CANNOT be rejected by the Board. It is my understand that it is 140% of 20 DMA or $40 (which ever is higher). Therefore, at this price it would be $40. However, that does not mean that SBL could be buying just short of the 5% limit at these depressed prices which would have the effect of lowering their offer to $38.50 thereabout. My read on the poison pill so please see if you can confirm.