S.A. Advisory E-Mail Update
January newsletter on-line

December 23, 1997

Dear E-mailer:

Our January 1998 Newsletter is now on-line for your viewing!

In this edition, we primarily have two opportunities that should interest you!

Both in our opinion could be considered stock picks for 1998 regardless of where the overall market is headed! We also buy stocks not the market!

1. Semicon tools (seto-.35-nasdaq bb) At present, seto has reported .087/share for the nine months on sales of $16+ million -- estimated year-end numbers for 1997 --$21 million and at least .11/share. --- Only trading @ an EST PE of 3x for 1997 numbers --- See complete story --- This is a great mini-micro -- NO BULL! Should be at least trading at $1+
2. Payless Cashways ($2.50-nasdaq bb--pcsh) Just came out of chapter 11. Company anticipates sales of $2.3 Billion, that's Billions! Earnings est from company are stated at .43/share -- only 20 million shares outstanding. Book value -- $9.19 -- no goodwill -- real book. This company is huge .. In the home improvement business...See report! This is a great opportunity that should be trading at lest at $5.00 not $2.50.

Finally -- As you know- this service is FREE as this time and has been quite valuable for many of you!! In order for us to make a little cash, we would appreciate if all of you would "click" the Investor's Business Daily Bar located on our home page and subscribe to the paper for 2 weeks ABSOLUTELY FREE -- No strings!! We did it and they will not bother you -- we actually read the paper every day and have read it for years. It is a great financial newspaper. Please fill out the subscription form properly. This will help us keep giving you our service for FREE!

We at S.A. Advisory wish all of you Happy Holidays and a Great New Year!

Your Truly,
William Velmer