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Zeev Hed

11/01/02 4:04 PM

#41013 RE: Tim Lamb #41008

Actually, quite a lot of their assets are building and machinery (in metallurgy, machinery lives three times as long as the depreciation rate), and they have accumulated some $230 MM in depreciation or so (from memory), the real value of their hard assets is probably higher than the stated value.

Zeev