We have prepared the attached two reports to accompany the Thai baht forecast 
we produced on 13 September 2000 (the previous curve was dated 15 May 2000).

The first report provides specific economic factors that formed the basis for 
our baht forecast decisions in September.

The second report is an analysis of PPP theory and foreign exchange 
forecasting with a detailed discussion of its propriety to the economic 
outlook and exchange rate forecast for Thailand. 

Regards,

Maureen Raymond-Castaneda and Gwyn Koepke