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To: cherrypitter who wrote (198)5/16/1999 7:34:00 PM
From: Robert T. Quasius  Read Replies (1) | Respond to of 318
 
The $3.1 million sale is for non-strategic properties to an unaffiliated party. The $1 million is a cash infusion from the CEO's father, structured as a partnership, as I understood the conference call. MEXP is keeping the $6 million deal in their back pocket, while they negotiate other asset sales, etc. They don't want to be selling good assets at fire sale prices, and by having a well known backup they won't have to.