8905003 Informal Interpretation

(redacted)

FEDERAL EXPRESS

Premerger Notification Office
Bureau of Competition
Federal Trade Commission
600 Pennsylvania Avenue, NW, Room 303
Washington, D.C. 20580

Re:Request for Informal Interpretation Concerning Section 7A(c)(4) of the Clayton Act

Dear Mr. Sharpe:

With reference to our telephone conversations of May 16, 1989, regarding the acquisition of all the voting securities of a company from (redacted) it is my understanding that such acquisition would be exempt under Section 7A(c)(4) of the Clayton Act, 15 U.S.C. 18a(c)(4). Section 7A(c)(4) exempts transfer to or from a Federal agency or a State or political subdivision thereof. For purposed of such exemption, the Federal Trade Commission (the 'FTC") has determined that the (redacted) is a Federal agency, and not a United States owned corporation.

It is my further understanding that a response to this letter will be made only if the preceding paragraph does not correctly reflect the policy of the FTC. If that is the case, I respectfully request a response at your earliest convenience.

If you have any questions regarding the above-described transaction or you require further information, please call me at (redacted).

Very truly yours,

cc: (redacted)