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Gold/Mining/Energy : JDS Fitel -- Ignore unavailable to you. Want to Upgrade?

To: Chris Stovin who wrote (558)	1/14/1999 1:56:00 PM
From: pat mudge	Respond to of 815

Chris -- It's been crazy, no doubt about it. I figure it deserves at least a 70 - 80 multiple and it's at 58 even considering today's gains. And this isn't even considering forward earnings. pat.

To: Chris Stovin who wrote (558)	1/14/1999 2:14:00 PM
From: pat mudge	Respond to of 815

Market news: <<<< Global TeleSystems in Deal With Flag Telecom Global TeleSystems Group Inc., McLean, Va., and Flag Telecom agreed to establish a joint venture to build and operate a $1 billion transoceanic dual-cable system designed to carry voice, high-speed data and video. The companies expect to offer service in 2000, or in about 21 months. The joint venture plans to offer a direct link between New York, London and Paris, with connections to other cities in the U.S., Europe and other countries in the Middle East and Asia Pacific. The $1 billion project is subject to financing, the execution of related agreements and other conditions. Global TeleSystems owns and operates telecommunications companies. Flag is a privately financed carriers' carrier. Shareholders include AT&T Capital Corp., a unit of Newcourt Capital Group Corp.; Bell Atlantic Corp.; Dallah Albaraka Group; General Electric Capital Corp., a unit of General Electric Co.; and Marubeni Corp. >>>>

To: Chris Stovin who wrote (558)	1/14/1999 2:36:00 PM
From: pat mudge	Respond to of 815

Chris -- My other fiber-optics play is SDLI and I have a call in to their CFO to discuss how they differ from JDS. They report on Feb. 3, and I know their projections for the fiber amplifier market were quite large but I don't know what percentage of sales this represents. I'll post when I find out. Pat