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Today's Reuter's story:

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June 06, 2002 14:16:30 (ET)

PALO ALTO, Calif., June 6 (Reuters) - A small group of investors has taken an 11.45 percent
stake in troubled software maker Peregrine Systems Inc.(PRGN,Trade), according to a filing
made with the U.S. Securities and Exchange Commission on Thursday.

St. Helena, California-based private investor Mark Nelson, along with Dana Johnson and the
Sine Nomine Foundation, purchased 22.04 million shares of Peregrine's common stock
between May 6 and June 4 for "general investment purposes, with no intent to alter the
management of the Issuer," according to the filing.

Several of the top corporate officers at San Diego-based Peregrine resigned earlier this week,
amid a federal regulatory probe into the software shop's accounting.

The company -- which sells software to help companies track their physical assets -- has seen
its stock fall from a year-high of $33.55 to a low of 73 cents.

Peregrine shares were down nearly 20 percent at $1.18 in Thursday afternoon trade on
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I spent the day looking into Mark Nelson using I was hoping to find that somehow he is more than just a "silent" investor; that he somehow knows the key people at PRGN or maybe Remedy. I figured that if I found his name and these people's name listed in the "company dossier" that that would mean that they had worked together before and maybe this was a play to help them get out of this mess. Unfortunately, I found nothing like that. I think he's just a VERY speculative investor. Some people on Yahoo think he's the Mark Nelson of the Biosphere project, but I'm not sure about that. I'd have to figure out his middle initial to tell you that for sure.

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Not sure, but would you spend $22 million to watch a company go completely down the drain?? Nelson has some serious experience in this business as does his now-wife. Who knows?
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I am curious to know what you feel his "serious experience in this business" is? The software development experience he gleened from Ovid was in search software. I did see he is linked to Niku corp., but they are in a similar boat (minus the scandal) to PRGN, so I assumed he was in there as a speculative investor and because of their products capability. Just wondering if I missed something.

I sold the rest of my shares two days ago, by the way, but continue to follow the news in hopes they'll recover from this.
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