DISCOVERY AIR INC 8.375 PCT DEBS T.DA.DB.A

RE: Mr. Jennings

[Mongoose11]

I feel the Clairvest deal is a dragging DA down and will continue to do so unless interest rates spike dramatically. In the meantime the force feeding of the additional Clairvest 10% debt should largely be used to retire the convertible debentures and other long term debt in my opinion at least.

As far as Dave Jennings goes I'm not sure that him "stepping down" voluntarily as CEO would have cost him his entire job and salary. I beleive that he was one of the founders of Top Aces which continues to be very important to DA. I suspect that he is still important to the continuing health of that division even if he is no longer the CEO of the whole company.