Dear Mr. Shapiro,
Attached is your Monthly Holdings Report for the month of April, 2001. If 
there are any holdings outside of UBS PaineWebber that you would like me to 
report on, please send your monthly/quarterly statements to me at:
109 North Post Oak Lane, Suite 150
Houston, TX 77024
And I will include them in this report. Please call me at 713-957-7060 if you 
have any questions regarding this report.

Sincerely,

Hank Emery
Financial Advisor
Emery Financial Group
UBS PaineWebber Incorporated
Houston, Texas
713-957-7060




Notice Regarding Entry of Orders and Instructions: Please
do not transmit orders and/or instructions regarding your
PaineWebber account(s) by e-mail. Orders and/or instructions
transmitted by e-mail will not be accepted by PaineWebber and
PaineWebber will not be responsible for carrying out such orders
and/or instructions.  Notice Regarding Privacy and Confidentiality:
PaineWebber reserves the right to monitor and review the content of
all e-mail communications sent and/or received by its employees.
 - Shapiro.pdf