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Subject:  Eagle Star Intl life???? Date:  2/6/2000  4:35 PM
Author:  EvanR Number:  27484 of 123001

I am a servicemember stationed overseas. I have been recently approached about an opportunity to establish what amounts to an offshore account with no tax liability. The literature and method sounds very promising and borders on "the almost to good to be true" arena. That is why I'm asking. The offer is with "EAGLE Star Int. Life". What they propose are so called "Mirror Funds" to publically held U.S. mutuals i.e. Baring Assett, Fidelity, HSBC Asset, Mercury, Jardine Fleming and so on. What I am being told is first this is perfectley above board. They will allow me to transfer any and all held stocks or mutuals to these accounts. Best of all "hard to believe" that I will no longer receive 1099's and acrue taxes on gains. The other plus to this situation is that when you do decide to sell, it is paid out to you as a loan which does or does not have to be paid back. The loan does reduces your interest rate on current holdings by a reciprocal amount, and is quoted by the company rep. "as being floated by a high official in the IRS and