<<_HMW01_.DOC>>  <<Titan-Schaeffer Optionredline.DOC>>

Kay: Per your request, attached hereto please find the blacklined
Titan-Schaffer Option with those blacklined changes per your email yesterday
and sent to Mr. Freehill today for his review.  I have also attached the
coverletter sent to Mr. Freehill for your files.  Please feel free to call
with any questions or comments.

Karen S. Way
Piper Marbury Rudnick & Wolfe
203 N. LaSalle
Chicago, Illinois 60601
email:  karen.way@piperrudnick.com
(ph) 312-368-2152
(fax) 312-630-6347

I appreciate the heads up -  I'll try to chase down the fax (it hasn't been
delivered yet).  Can you email me the blacklines just in case?

Thanks,

Kay




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 - _HMW01_.DOC
 - Titan-Schaeffer Optionredline.DOC