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To: Lizzie Tudor who wrote (46818)	3/22/1999 6:49:00 PM
From: Sarmad Y. Hermiz	Read Replies (1) \| Respond to of 164684

Michelle, I have just a little tiny point to make. Which is that the very same exact valuation model that says it is legitimate for efax to be 32, also says it is legitimate for it to be 30 or 10 or 50 or 1 or 7 or 19 or any number. Same goes for all these companies who seem to be unable to make any profit.

To: Lizzie Tudor who wrote (46818)	3/22/1999 9:04:00 PM
From: Bill Harmond	Read Replies (3) \| Respond to of 164684

>>Now theres a flash in the pan... kind of like bamm. I disagree. In fact I added to my position at 17 last week. I'm very confident that when eFax's connection backlog is eased (supposedly by next week) that the momentum behind the service will return. eFax is a GREAT idea and not very-easily duplicated. There is quite a bit of proprietary technology involved that the company has developed in connection with their hardware interface business. I think, and obviously hope, you'll be surprised.