CONFIDENTIAL

(b)

At the same time, market gossip about such a

possibility would depress the JM Group's share

values, as well as demoralising its present

and potential business partners.

Background

7.

special

The

source has responsibility for developing a

relationship with JM and influencing its attitudes at

Board level.

8.

His intention was that the "warning" should be

conveyed to Board Members. However, his go-between found the

message too alarming to transmit.

CC CS

FS

(Leo F Goodstadt)

Head, CPU

29.3.1993

CONFIDENTIAL

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