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To: strtrset who wrote (862)	5/22/1999 12:29:00 PM
From: Gene Reardon	Respond to of 1567

Based on various news reports, I don't think it's going to happen next month.. e.g. WASHINGTON, May 21 (Reuters) - U.S. trade officials are cooling their heels waiting for a signal from Beijing to resume stalled trade talks, but many analysts are optimistic about a deal to bring China into the World Trade Organization (WTO) by the end of the year. "I think we will reach an accommodation," said Willard Workman, international policy expert at the U.S. Chamber of Commerce. "I don't think that accommodation is imminent though. We're going to have to let some time run to allow things to calm down." Beijing would like to join the WTO by the end of the year when ministers will meet in Seattle, Washington, to launch a new round of global trade liberalization negotiations. But even if talks resume, it is unclear the United States will be able to win the same deal it could have secured during Zhu's visit. Statements out of Beijing suggest the Chinese, who are furious over the mistaken bombing, may be looking to take some of the market opening commitments off the table. Senate Majority Leader Trent Lott on Thursday expressed doubt about a China WTO deal and said any agreement would have to be in U.S. commercial interests as well as guarantee that it could be enforced. He said worries about allegations that China stole U.S. nuclear secrets, concerns about technology transfers and human rights abuses will make it hard to win support in Congress for a WTO deal. **** I'm hoping that the bombing and the theft of secrets will end up being a wash and the deal will go forward. GR.

To: strtrset who wrote (862)	5/22/1999 3:37:00 PM
From: FFNEODOC	Respond to of 1567

Regarding Strtrset's questions about XNET. To the best of my knowledge, there were about 15 million shares outstanding with insiders owning about 8 million. The recent private placement to finance expansion into other cities in China added another 5 million "restricted" shares. These shares were to outsiders but are restricted from sale until 4/2000. This would place XNET's market cap somewhere around $60 million, pretty low considering their subscriber growth is about 200%/year & will probably accelerate this year with expansion to 2 more highly populated cities. These are my estimates from past communications with management & the investor package. I think we'll know more when the SEC 10 filing in completed and can be reviewed on free Edgar. Hope this helps, Frank