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Technology Stocks : Booking Holdings (formerly Priceline) -- Ignore unavailable to you. Want to Upgrade?

To: coachbobknight who wrote (1413)	5/20/1999 10:34:00 PM
From: Tom Hua	Respond to of 2743

Coach, some shares will be released 90 days from the IPO date, most will be locked up 180 days. However, I've seen a few instances in which the company renegotiated with the underwriters to have shares released early (example CIEN). Regards, Tom In general, under Rule 144 as currently in effect, beginning 90 days after the date of this prospectus, a person, or persons whose shares are aggregated, who has beneficially owned restricted shares for at least one year, including the holding period of any prior owner except an affiliate, would be entitled to sell within any three-month period a number of shares that does not exceed the greater of (1) 1% of the number of shares of common stock then outstanding, which will equal approximately 1,400,000 shares immediately after this offering, or (2) the average weekly trading volume of the common stock during the four calendar weeks preceding the filing of a Form 144 with respect to such sale. Sales under Rule 144 also are subject to certain manner of sale provisions and notice requirements and to the availability of current public information about priceline.com. Under Rule 144(k), a person who is not deemed to have been an affiliate of priceline.com at any time during the three months preceding a sale, and who has beneficially owned the shares proposed to be sold for at least two years, including the holding period of any prior owner except an affiliate, is entitled to sell such shares without complying with the manner of sale, public information, volume limitation or notice provisions of Rule 144. Rule 701 permits resales of shares in reliance upon Rule 144 but without compliance with certain restrictions of Rule 144. Any employee, officer or director of or consultant to priceline.com who purchased his or her shares pursuant to a written compensatory plan or contract may be entitled to rely on the resale provisions of Rule 701. Rule 701 permits affiliates to sell their Rule 701 shares under Rule 144 without complying with the holding period requirements of Rule 144. Rule 701 further provides that non-affiliates may sell such shares in reliance on Rule 144 without having to comply with the holding period, public information, volume limitation or notice provisions of Rule 144. All holders of Rule 701 shares are required to wait until 90 days after the date of this prospectus before selling such shares.

To: coachbobknight who wrote (1413)	5/20/1999 10:47:00 PM
From: NightHawkZ	Read Replies (1) \| Respond to of 2743

Tom, coach.. PCLN's auditors, Deloitte, requires the current method for reporting revenue for airline tix, which are done on a spread basis, vs. fixed fee for auto, R/E sales. The SEC has reviewed this as well, for example, when S-1 was filed. That's the way they have to do it for any spread transaction. As for mutual fund sales, not likely in the foreseeable future, if at all. But will add other financial service business. NHZ