0808004 Informal Interpretation

From:

(redacted)

Sent:

Thursday, August 21,20083:38 PM

To:

Verne, B. Michael

Subject:

Mutual Insurance Companies:

Attachments:Document.pdf

Mike: I have to hityou up, as Nancy Ovuka is down the road.

I have attachedhereto a PDF of a 2003 Informal Opinion re: HSR treatment and Size ofTransaction valuation regarding the merger of 2 mutual insurance companies onwhich N. Ovuka and you provided some input. My facts are the same as detailedin the Informal Opinion. (0309008.htm)

My question: Isthis 2003 information still current, or has there been a change in outlook?--If current, I believe that I have all of the guidance that I need at thispoint. --If not current, then any direction you can provide as to current HSRtreatment / valuation of the merger of 2 mutual insurance companies would bevery much appreciated.