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MWM

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MWM

Re: MWM post# 11

Monday, 03/09/2009 11:04:36 AM

Monday, March 09, 2009 11:04:36 AM

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CEO SELLING STOCK

Addressing concerns over the heavy sale of Allis-Chalmers stock by himself and other employees recently, CEO Hidayatallah said he had lowered his stake in the company to meet margin calls and that this should not reflect on his commitment to the company.

Shares of Allis-Chalmers have lost 86 percent of their value in the last 12 months, hurt by a massive drop in oil and gas prices from their record highs in July last year and a generally weakening outlook for U.S. oil service companies.

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