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To: Wowzer who wrote (45048)	5/19/1999 7:16:00 PM
From: Robert T. Quasius	Respond to of 95453

Could be mutual funds or other institutional investors with charter prohibitions against owning stocks of foreign registered corporations. Since RIG is now a foreign registered corporation, as of Friday, these funds would have to sell no matter what. Wash sale rules could account for a lot of the selling before Friday, since as of Friday a shareholder could no longer take a loss for income tax purposes. After selling, an investor must wait 30 days before reinvesting, due to IRS wash sale rules. I guess we'll see what happens in about four weeks. We might see an uptick in buying activity. RIG is definitely undervalued.