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SHORT INTEREST IN VALLEY STOCKS

The table below lists the short interest in various Valley stocks.

In a short sale, an investor sells borrowed stock--in effect betting the price will drop--after which he can buy back the stock at a lower price and return the shares to the lender and pocket the difference. Of course, if the stock goes up in price, the short seller loses money.

Short interest is the number of shares that have been borrowed for short sales and not yet repurchased. Also listed is the average daily volume of stock traded in each company.

NEW YORK STOCK EXCHANGE

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No. of shares of short interest Stock Industry as of 12/15/88 Foothill Group Financial services 335,000 Glenfed S&L; holding co. 128,213 Lockheed Aerospace 483,789 MCA Entertainment 455,319 Walt Disney Entertainment 1,114,451 AMERICAN STOCK EXCHANGE ATI Medical Medical equipment 383,500 OVER-THE-COUNTER MARKET Amgen Biotechnology 403,421 Comptr Memories Holding co. Delphi Info Sys Software 78,039 HOH Water Water Systems 50,934 Incomnet Computer 34,474 LIVE Entertainment Entertainment 12,561 Micropolis Disk drives 438,372 Traditional Inds. Photofinishing 522,150 20th Cent. Inds. Insurance 183,179 United Education Career schools 56,788

No. of shares Avg. daily of short interest trading Stock as of 11/15/88 % chg volume Foothill Group 343,300 -2% 4,463 Glenfed 130,586 -2% 31,618 Lockheed 434,632 +11% 134,995 MCA 337,693 +35% 265,868 Walt Disney 1,060,115 +5% 265,777 AMERICAN STOCK EXCHANGE ATI Medical 379,100 +1% 4,266 OVER-THE-COUNTER MARKET Amgen 147,849 +173% 164,074 Comptr Memories 52,747 -3% 22,407 Delphi Info Sys 62,019 +26% 6,117 HOH Water 73,396 -31% 10,032 Incomnet 7,582 +355% 31,094 LIVE Entertainment 194,004 -94% 97,101 Micropolis 197,069 +122% 143,414 Traditional Inds. 377,923 +38% 41,554 20th Cent. Inds. 71,752 +155% 163,764 United Education 49,028 +16% 70,073

Sources: New York, American stock exchanges; National Assn. of Securities Dealers


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