SEN. HOWARD METZENBAUM (D-OH)

On May 14, 1993, Sen. Metzenbaum purchased 2500 shares of what appears to have been an INITIAL PUBLIC OFFERING in IRG Technologies. The quoted IPO price was $7.50/share. He later sold this stock on May 20, 1993.

On June 8, 1993, Sen. Metzenbaum purchased 100 shares of what appears to have been an INITIAL PUBLIC OFFERING in ALDILA, Inc. The quoted IPO price was $14.00/share. He sold this stock one day later (June 9, 1993).

On July 6, 1993, Sen. Metzenbaum's spouse purchased 1000 shares of stock in Harman International Industries (valued between 15,000 and 50,000 dollars). On July 8, 1993, Sen. Metzenbaum purchased 1000 shares in Harman International Industries (valued between 15,000 and 50,000 dollars). He and his spouse later sold their stock on November 1 and 2, 1993. This particular transaction is curious for a variety of reasons. First, let's consider a timeline of events between purchase and sale.

One week later, on July 15, 1993, Reuters reported that Harman International was negotiating an acquisition deal with an Austrian firm known as AKG Holding. The acquisition was completed on September 27, 1993, with Harman holding a 76 percent interest in AKG.

Three days later (September 30, 1993), Harman announced that they expect, in the near future, to offer approximately 3 million new shares--presumably to pay for the new debt they obtained from the AKG acquisition.

On October 20, 1993, Harman filed a registration statement with the SEC to offer 2.85 million shares to repay a portion of its outstanding indebtedness.

One of the principle shareholders in Harman International is Rep. Jane Harman (D-CA)--also the wife of the Chairman of Harman International. Before coming to Congress, Rep. Harman served as chief counsel and staff director for the Senate Judiciary Subcommittee on Constitution. She also worked as a corporate lobbyist with Manatt, Phelps, et al.; and Jones, Day, et al.. As a lobbyist, Rep. Harman gave campaign contributions to Sen. Metzenbaum. When Rep. Harman was running for Congress, Sen. Metzenbaum gave her a campaign contribution from his PAC.

Notes: Sen. Metzenbaum was # 2 on the Senate Judiciary Subcommittee on Constitution; he was # 1 on the Senate Judiciary Subcommittee on Antitrust, Monopolies, and Business Rights.