DAVIS, MENDEL & REGENSTEIN, INC.
2100 RIVEREDGE PARKWAY, SUITE 750, ATLANTA, GEORGIA 30328
TEL (770) 850-3838 WATS (800) 241-0621 FAX (770) 850-3830
October 17, 1997

Dear John:

Please find enclosed pictures from the Ned Davis Research Group Party on September 27. It was a smashing success. Feet are still tappin' from your wonderful music and fond memories abound.

More importantly, this party accomplished my goal of improving morale and giving people a sense that we can all play and work together. People have commented to me how very impressed they were at your ability to put together the "band" and get people involved very quickly. I can't emphasize enough what a tremendous success you were. It has, also, helped grease the wheels at work enabling employees to be more receptive to some of the changes we need to make going forward.

I hope my business associate is able to convince you to come to Florida to entertain again at our corporate holiday party in November. If not, then I will have to wait to see you again in Charleston. Best of luck.

Sincerely,
Geoffrey P. Raymond
Chief Executive Officer

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