I have not had any contact with the nuetral appraiser, so this speculation is 
from our outside counsel. Jean Frizzell inforns me that the nuetral is 
conservative and he doesn't believe that he will put any multiples on these 
investments. The numbers should be low. I hope you are doing well----- 



	Gene Humphrey
	08/24/2000 05:46 PM
		
		 To: Richard B Sanders/HOU/ECT@ECT
		 cc: 
		 Subject: Re: FW: Appraisers' conference call results and next steps

I guess we will get the results by the middle of September.   Since I have 
been out of pocket for the past two months, I am curious if you have any 
insight into how the appraisal process is going and if the results will be in 
line with what we think they should be.  I realize that this is only 
speculation but  I am wondering what your opinion is.  Thanks for all of your 
help.

Gene