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

[thepennyking]

[e-mail] Re: Acqusition of SRUN

Dear Mr. Stuart:

The attached is a preliminary prospectus/IPO document which shall incorporate all agreements to merge within it by reference. If your firm is interested in a buyout proposal at a valuation of 10X book value on the close of business on December 31, 2000, please advise of your legal counselor so we can send him a written draft merger agreement.

Sincerely,

Gabor Sandor Acs
Penny King Holdings (USA) Ltd.
--- [e-mail] wrote:
contact Bruce Stuart 310-470-9358, or
[e-mail]
----- Original Message -----
From: gabor sandor acs <[e-mail]>
To: <[e-mail]>
Cc: <[e-mail]>
Sent: Wednesday, September 20, 2000 9:32 PM
Subject: Acqusition of SRUN

Dear Employee or agent of SRUN:
We are interested in making a friendly tender
offer for all of the outstanding shares of SRUN at a
value of up to ten times book value on the close of business
on December 31, 2000. Who within your company
would be the contact person to work with us on this
project? We can provide a prospectus upon connecting with the
right personnel.
Sincerely,
Gabor Sandor Acs
Chairman and CEO
Penny King Productions, Inc.
The Free and Clear Bancorporation

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.