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From:  "Blast Investor" <blast_investor@blastinvest.com> Date:  Mon May 24, 2004  1:18 pm Subject:  Reduced ADGO positions

I reduced ADGO investment position today. Currently ADGO is trading at fair value estimated around $1.50 - $1.60 by myself. My portfolio is getting over-concentrated into ADGO due to its huge rise after I first bot it around $0.55 last year as well as due to relative large initial investment. The reduction is done above $1.50 price and it is meant raise cash level to invest into other stocks. ADGO still is one of my largest position in my portfolio after reduction. ADGO still has attractive valuation and business growth potential to rise above current price in the year ahead significantly. My strategy is to reduce or sell my investment only above fair value gradually in general. If stock price drop below fair value, my strategy is to simply B&H or buy more case by case.