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Zeev Hed

01/25/04 1:03 PM

#196903 RE: extelecom #196902

No change in the 1202 exclusion. It applies to companies you bought when their assets were under $50 MM (QSB, or "Qualified Small Business", many of the start ups I have invested in were like that, I still have some which are not yet public and am "waiting") and that you held for 5 years. 50% of the gains upon selling is excluded from calculations of gains.