Attached is the private placement memorandum for nCUBE.  I will be
e-mailing you additional information shortly.  I told Larry Ellison last
night of our conversation and he is estatic that you are considering
joining us on the board of the company.

By the way, with respect to AZX, I have been thinking of ways of
financing water analogously to mortgage debt securitization.  Since
water in fact is a scarce resource, either due to the availability or
infrastructure for deliver, perhaps water "value" can be tiered with
different risk/reward relationships per each tier.  Just a thought.

Received: from 10.25.2.11 (KULANTS2 [10.25.2.11]) by kulants2.sunsetmgt.com 
with SMTP (Microsoft Exchange Internet Mail Service Version 5.5.2650.21) id 
SBBDD53H; Tue, 5 Sep 2000 17:45:04 -0700
Received: from SENTRY (nokiafw.sunsetmgt.com [10.25.2.38]) by  with SMTP 
(MailShield v1.5); Tue, 05 Sep 2000 17:45:03 -0700
Received: from SMTP (new-navieg1.kuit.com [10.25.3.29]) by 
int-relay1.kuit.com (8.9.3/8.9.3) with SMTP id RAA07120 for 
<sfink@knowledgeu.com>; Tue, 5 Sep 2000 17:44:46 -0700 (PDT)
Received: from ns1.kuit.com ([205.168.192.5]) by 10.25.3.29  (Norton 
AntiVirus for Internet Email Gateways 1.0) ;  Wed, 06 Sep 2000 00:49:31 0000 
(GMT)
Received: from postman.ncube.com (postman.ncube.com [134.242.8.47]) by 
ns1.kuit.com (8.9.3/8.9.3) with ESMTP id RAA07125 for <sfink@knowledgeu.com>; 
Tue, 5 Sep 2000 17:46:51 -0700 (PDT)
Received: from mercury.ncube.com (mercury [134.242.64.13]) by 
postman.ncube.com (8.9.0/8.9.0) with ESMTP id RAA19426 for 
<sfink@knowledgeu.com>; Tue, 5 Sep 2000 17:46:41 -0700 (PDT)
Received: by mercury.ncube.com with Internet Mail Service (5.5.2650.21) id 
<RZ6G0WRN>; Tue, 5 Sep 2000 17:55:17 -0700
Return-Path: <wanda@ncube.com>
Message-ID: <D916487AAE34D311A30000E081104ABF603974@mercury.ncube.com>
From: Wanda Barquero <wanda@ncube.com>
To: "Stephen Fink (E-mail)" <sfink@knowledgeu.com>
Subject: FW: Private Placement Memorandum
Date: Tue, 5 Sep 2000 17:55:15 -0700
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2650.21)
Content-Type: multipart/mixed; 
boundary="----_=_NextPart_000_01C0179D.1EC1AD4C"
X-SMTP-HELO: SENTRY
X-SMTP-MAIL-FROM: wanda@ncube.com
X-SMTP-RCPT-TO: sfink@la.knowledgeu.com
X-SMTP-PEER-INFO: nokiafw.sunsetmgt.com [10.25.2.38]



-----Original Message-----
From: Muller, Jennifer [mailto:JMuller@HLHZ.com]
Sent: Friday, September 01, 2000 7:53 AM
To: 'Wanda Barquero'
Cc: 'Mike Pohl'
Subject: RE: Private Placement Memorandum


 <<Executive Summary2.pdf>>

> -----Original Message-----
> From: Wanda Barquero [SMTP:wanda@ncube.com]
> Sent: Thursday, August 31, 2000 3:14 PM
> To: Jennifer Muller (E-mail)
> Subject: Private Placement Memorandum
>
> Jennifer, can you please email to me and copy Mike Pohl, he can't print
> off
> his laptop.
> Thanks



 - Executive Summary2.pdf