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To: Charlie Smith who wrote (179)	2/12/1999 2:42:00 PM
From: pat mudge	Read Replies (1) \| Respond to of 2347

Clinton's responding to his acquittal. Historic moment. Apologetic. Humble. Dignified. Thank God we can move on. Pat

To: Charlie Smith who wrote (179)	2/13/1999 5:36:00 PM
From: pat mudge	Read Replies (2) \| Respond to of 2347

Industry news: <<< Europe February 13 1999 UPC: Internet demand boosts flotation By Gordon Cramb in Amsterdam, Alan Cane in London and Richard Waters in New York Shares in United Pan-European Communications (UPC), Europe's biggest private provider of cable television services, soared 26 per cent yesterday as trading began in Amsterdam after a E1.16bn ($1.31bn) flotation. The strength of demand is the latest signal of investor enthusiasm for companies poised to benefit from internet demand as telecommunications markets are opened. United International Holdings of the US, which will continue to own about 60 per cent of UPC, took control two years ago when it bought out joint venture partner Philips Electronics. The US company paid only $250m for Philips' 50 per cent stake, according to Mike Fries, UIH president. Based on yesterday's closing share price of E36.55 - up from the issue price of E29 - that stake is now worth more than $2.5bn. Denver-based UIH said it planned to use the European cable TV networks to launch Cello, its high-speed internet access service. Some $300m-worth of shares were reserved for Microsoft, the world's largest software group, which will hold an 8.1 per cent stake. UPC is planning to work with Microsoft on internet, telephone and video projects. The issue of 32.1 per cent of UPC's equity was more than 20 times subscribed. The shares opened strongly on the US Nasdaq market, rising $8 to $40. Goldman Sachs International and Morgan Stanley Dean Witter were global co-ordinators to the offering; MeesPierson was responsible for the Dutch retail offering. >>>>