Heartland, Inc.(fka HTLJ)

[PsD]

I have just finished reading, GOING PRIVATE, BY Marc Morgentsten, Peter Nealis and Kahn Kleinamn.

I find the conclusion the most heartening, that the going private may not materialize.

It reads as follows: "Many financial intermediaries and legal advisors are encouraging their clients

to consider exiting the public system to reduce regulatory, economic, and other burdens.

In today's economic and legal climate, a company's board may well have fiduciary obligations to

consider all of the foregoing. Neither opting-out nor going private, however, is a universal

panacea. In addition to the time,expense and the scrutiny incurred, even companies successfully

completing a transaction may effectively remain subject to significant regulatory and governance

obligations regardless of wether they are public or private. Upon reasoned reflection, therefore

it is not surprising that so few transactions returning public issuers to private status have actually

occurred."