Murphy''s speech at CMRE conference in New York

11:50p EST Monday, March 27, 2000

Dear Friend of GATA and Gold:

In your surfing of the Internet you might
want to check out the web site of the
Martin Armstrong Defense Fund:

a href=http://www.armstrongdefensefund.org/http://www.armstrongdefensefund.org//a

Armstrong is the international financial
consultant who faces federal securities
fraud charges and who has been jailed in
New York since the government stripped
him of all assets necessary to his defense.

One may suspect that Armstrong has been
jailed in part to make it difficult for him
to disclose what he knows about the
manipulation of various markets. GATA hopes
that this effort will fail.

CHRIS POWELL, Secretary/Treasurer