October 5, 1998

Mr. Jeffrey Schmidt

For Hand Delivery in Washington DC

Dear Jeff,

Thanks for taking a few hours out of you busy day to talk to me. Your information was very helpful.

Sorry I could not return your call last Friday. I understand you were going to the IMF meetings in Washington I want to get you some important information concerning the most recent developments involving Mr. Minton.

As I could not reach you at your London office, I have enclosed a package of information for your use concerning the situation with Mr. Minton.

I am also enclosing his most recent Internet posting which seems to have distorted our meeting of a couple of weeks ago. This posting seems to support your supposition concerning Bob's mental instability.

Please find the enclosed information which I trust you will find of interest.

Sincerely,

Peter Franks

London: 44 961881105