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Non-Tech : The North Face (TNFI) -- Ignore unavailable to you. Want to Upgrade?

To: Brian in Honolulu who wrote (189)	4/6/1999 11:33:00 AM
From: M. Robins	Read Replies (1) \| Respond to of 236

Recapitalization at $17.00? Anyone read 13D's? There are some major players taking major TNFI positions from 11-13.50. Excerpts from 13D dated 3/25/99: The Reporting Persons have been acquiring North Face Common Stock since January 22, 1999 to hold primarily for investment. The Issuer announced on February 28, 1999 that its Board of Directors approved an agreement (the "Transaction Agreement") covering a recapitalization that would result in the public shareholders of the Issuer receiving $17.00 cash per share and the acquisition of control of the Issuer by Leonard Green & Partners, L.P. and James Fifield. The Reporting Persons have continued to purchase the North Face Common Stock since the announcement of the Transaction Agreement. Page 11 of 24 Pages Based on information currently known to the Reporting Persons, (i) the Reporting Persons are in favor of the consummation of the transactions contemplated by the Transaction Agreement or another transaction that would result in the shareholders of the Company receiving in excess of $17.00 per share, and (ii) plan to encourage the Board of Directors and/or management of the Issuer to consummate the transactions contemplated by the Transaction Agreement or another transaction that would result in the shareholders of the Company receiving in excess of $17.00 per share. Name Number of Shares Aggregate Consideration - ------------------------------------ ---------------- ----------------------- Leigh J. Abrams 5,000 $ 62,515.00 Atlas Capital, L.P. 80,250 $ 1,068,664.76 Cardinal Investors, L.P. 64,650 $ 873,879.65 Cardinal Partners, L.P. 139,970 $ 1,805,339.78 Cardinal Investment Company, Inc. Pooled Investment Trust 38,570 $ 500,737.54 Kaiser-Francis Oil Company 96,620 $ 1,265,511.15 Ruth Kaiser Nelson 23,940 $ 313,658.17 Marshall B. Payne 30,480 $ 400,641.23 Prime Acquisition Corporation 51,150 $ 629,034.08 Managed Account 130,850 $ 1,688,863.51 Edward W. Rose III 304,820 $ 4,006,594.12 ------- -------------- 966,300 $12,615,438.99