Diversity Investment Group
Minutes of the meeting
July 7, 1999

In attendance: Andy Bain, John Brock, David Brodeur, Peter Carnell, Russ 
Douglas, Roger Drury, Todd Fibus, Gary Kaupman, David Robinson, Tom 
Saunders, Steve Shockley, Randy Wilbur.

Members shared "inspirational" thoughts.

Minutes approved for June, 1999.

Tom: Passed Etrade statement around.
$2,912.02 cash on hand.

Gary: Reviewed current holdings and diversification worksheet.

Roger: Proposed using DRIPS for reinvestment.
John B.: Advised DRIPS require a fair amount of paperwork to initiate and 
monitor.
David B.: Advised DRIPS are great for frequent, small investment. 
Reinvesting dividends happens
anyway. You have to find companies you want to send money to frequently and 
find companies
that don't have expensive drip plans. Our dividends are reinvested…but not 
always in the same
company.
(Discussion on DRIPS/dividends)

David B: No classes for July at his house.
Added a glossary to the DIG home page.

Roger: Will check for a meeting room at the McDonald's on GA Tech campus.

VP Corner: Roger advised there would be five presentations this evening.
Next month: David R. to present the "Stock to Study" from Better 
Investing.
Gary to present Black and Decker
Andy to present a manufacturing company.
Tonight's presentations: Steve, Andy, David B., David R. and Roger.

Steve: Presentation on Nokia Corp…Cell phone company from Finland.
Current price of $84.32 is in the HOLD zone.
Buy up to $66.83

Roger: Specialty chemical overview.
Little upward price movement.
Earnings down due to competition. Fragmented. Asian Economies recovering.

David R.: Presented PraxAir…the largest industrial gas supplier in North 
and South America.
Current price of $30.70 is a HOLD.
Buy up to $42.50.
Concern with large amount of debt, and trending upwards.

Roger: RPM, manufactures coatings, paints, sealant, etc.
Current price of $11.20 is a BUY.
Buy up to $14.00
Good DRIP plan. Considerable debt…but expected to decrease.

Andy: Presented Watson Pharmaceuticals, Inc and Jones Pharma as a follow-up 
up from our last
meeting.
Watson, by comparison, seems to be more favorable to Jones.
Jones current price of $38.00 is in the BUY zone if you can adjust the 
estimated
Low price to $20.00 (more realistic).
Watson-more diversified.
Watson-we need to find out what the concern with the FDA is. Also need to 
review the new V/L
which should be coming out shortly.

David B.: Presented Health GMT Associates (HMA)…a medical services 
industry.
They are trying to be the sole/predominant health care provider in small 
towns.
Buying unprofitable hospitals, bringing in their own directors, etc. to make 
the hospitals profitable.
Current price of $11.50 is in the BUY zone.
Looks good as compared to competitors.
Priced at two year low.

Robert Half's price has dropped.

Buys this month:
Clayton….good buying opportunity.
Marriott
HMA
Robert Half….need to find out why price is down.

Motion to buy $1,000 of Robert Half and $1,00 of HMA.
Motion failed. Need to carefully consider HMA a little further.

Motion to buy $1,000 for Clayton and $1,000 for Robert Half.
Motion was approved.

Adjourned until Aug. 4th

Checks were received from everyone but Mike Wall.

Respectfully submitted,

David Robinson