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To: Bob Zacks who wrote (5166)	2/14/1999 9:03:00 AM
From: Bob Zacks	Read Replies (2) \| Respond to of 10081

I've been going over the sec filing here is one good point "In April 1998, the Company entered into an agreement with Qwest Communications International, Inc. to purchase telecommunications services at fixed prices for an initial term of three years. The Company is obligated to purchase $13.0 million in telecommunications services during the three-year period ending April 30, 2001. The charges underlying this commitment will be expensed in the periods in which they occur " On to the next issue. I can't figure how 2.9 million shares were converted from 1451 shares C prior to Nov. 12 My understanding is about 5,454,000 shares could be converted from the remaining shares of C. 1,000,000 from B and 820,000 from A (MSFT's holdings) I could see the 2.9 million shares being shorted to help further conversion ,but that's risky with a float of 25 million.Who are these investors holding class c shares?