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Seahag

09/24/01 11:01 PM

#12582 RE: Francois+Goelo #12581

I don't see why the debentures were illegal in that we took the risk by having to hold onto them for a period of one year. Even though the stock was trading at a higher rate than what we purchased them for, the risk made the purchase price fair. We were locked in and could not trade. Also, I believe the debentures were available to anyone that wanted in. JMHO, SH