The enclosed research report is being sent to you from PaineWebber by:

 Emery Financial Group

 713-957-7060

 henry.emery@PaineWebber.COM

Please contact them if you have any questions or would like to discuss this 
material.

The information contained in the attached research report is believed to be 
reliable, but its accuracy is not guaranteed.  PaineWebber Incorporated 
and/or Mitchell Hutchins Asset Management Inc., affiliated companies and/or 
their officers, directors, employees or stockholders may at times have a 
position, including an arbitrage position, in the securities described herein 
and may sell or buy them to or from customers.  These companies may from time 
to time act as a consultant to a company being reported upon.

You will need the Adobe Acrobat Reader to view this document.  If you don't 
already have it just click on this link, 
http://www.adobe.com/prodindex/acrobat/readstep.html, and follow the 
on-screen instructions.  The Acrobat Reader is free of charge.



 - P005728020010323D02.pdf