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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: Dennis V. who wrote (8017)	2/5/1999 8:08:00 PM
From: Pallisard	Respond to of 27311

TO ALL: I just returned from Henderson today. The meeting changed my image of the company from a struggling, speculative firm to an evolving commercial entity that intends, through their patents and technology, to control a major portion of the rechargebale battery industry. I think that's why people like Shugart, Roberts and Berg are there, to participate in the profits and the notoriety. The NI plant is indeed complex. It tells you why this technology has been so long in the making and fraught with setbacks. It's clear that Valence has mastered the process. They are making batteries. Where are they going? Lev was ADAMANT about secrecy. And speaking of secerecy, when I went to the restroom, there were several very alert security guards monitoring people's movements at all points. I asked Lev when they were moving. He said "we're not moving, too busy" Lev said essentially that they are still actively pursuing on-going research for better processes, better control, better batteries, that one bad batch can sour their relations with "our customers, I mean our potential customers". They have set up "programs" with each OEM to accommodate their design and product revelation plans, and that a P.O. IS A PART OF THAT PROGRAM. Meanwhile, back at Sunset Station, lws, add, rich w., myself and my neighbor all had drinks and finally dinner at the Sonoma Cellar where the meeting was analyzed in excruciating detail. We all agreed that it was very positve. lws did have some interesting caveats which I'm sure he will relate to you on when he posts. In general, everyone was quite optimistic, despite the lack of a "blockbuster". More that ever, I'm completely satisfied that the long wait is drawing to a close and my patience will reap extraordinary rewards.