---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/22/99 
01:14 PM ---------------------------


erik.a.wernevi@ac.com on 12/22/99 10:43:32 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:  
Subject: Real Options Presentation



Dear Vince,

Thank you for a stimulating presentation about real options at the IIR
conference in New York on Monday the 13th of December. Your explanation of 
real
options and it's applications for a number of valuation problems interested me
very much. With reference to our previous conversation I wonder if it is
possible  for you to forward the slides from the presentation.

Thank you very much for your help

Regards

Erik