The Penny King's Free and Clear M&A Fund

[thepennyking]

MRVC will be $70.00 by 9/18/2001
(MRVC was $56.75 on 9/18/2000)
Accumulate 4.9% as it drifts around ten times book,

Luminent Inc. filed Sep. 13 to change its ticker symbol to LMNE from LUMN, and to set its price at $13-$15 per share and offer 12 million shares. CS First Boston Corp. is the lead underwriter. The projected offering is expected to raise $155 million. The company is a maker of fiber optic components, and is a unit of MRV Communications (MRVC), an optical component and network company that will own approximately 92% of Luminent Inc. after the IPO.

Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund, and Janitor for the Global Morass of Debt Instruments.