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To: Annette who wrote (2689)	12/20/1998 10:49:00 PM
From: Lynn	Read Replies (1) \| Respond to of 27722

I have not followed the Netscape:AOL deal, but it really doesn't matter because all conversions work the same. Last year Corestates got taken-out by First Union (FTU) at a conversion of 1.62 shares of FTU for every share of Corestates (CFL). Doing some quick math, if one owned shares in neither bank but wanted shares of FTU, it worked out cheaper to buy shares of CFL since at conversion, the FTU shares were actually being obtained at a discount. Same thing, it appears, right now with the Netscape/AOL situation. Now it took some time, like months, so the price of FTU and CFL basically aligned so one was not at an advantage (most of the time) buying shares of CFL instead of FTU--especially since CFL raised their dividend so people would get the same as if they already owned FTU. I tried to find postings which addressed the very question you now have, Annette. Unfortunately, the Corestates thread has been removed from SI. If you do a search for CFL, it just tells you the name of the now defunct bank. Lynn P.S. I checked the FTU thread in case people talked about the conversion over there. Nothing--we CFL people did our yacking about the conversion on the CFL thread.

To: Annette who wrote (2689)	12/21/1998 10:57:00 AM
From: Dr. Id	Read Replies (1) \| Respond to of 27722

How will they convert those shares? I don't know how they do that, thanks! I mean, what if I buy Netscape now and in the meantime AOL makes a run...do I get a 5% discount only at the conversion time? Annette, You will get .45 shares of AOL for each share of NSCP. Currently, NSCP has been tracking AOL shares, but at a discount of about 5%. THat will decrease as the merger date gets closer. If you are confident that the merger will go through, you buy NSCP shares and get the discount if you want AOL shares. Hope this makes sense... JB