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Pastimes : DDRX--Diedrich Coffee, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Todd White who wrote (2)	2/11/1999 4:28:00 PM
From: Gator	Read Replies (1) \| Respond to of 4

The minimum value of the deal to MOKA shareholders is $35 million (assumes a DDRX stock price of $6), which means the deal is worth a minimum of $3.25 to MOKA shareholders. If DDRX trades higher, the deal is worth more to MOKA (e.g. DDRX is at $6 9/16, which makes the MOKA deal worth $3.34). With MOKA at $2 1/8 x $2 1/4, it's a pretty nice short term return on investment. Plus, when all the dust settles, you'll be holding DDRX stock which looks like a pretty good company to own. If it all falls thru (deadline for definitive agreement is March 5th), you're left holding MOKA, which is profitable and has a book value over $4. Not too many investments have so much upside with very limited downside risk. Gator