I. NOTICE OF MOTION

To defendants SI Management L.P., et al. and their attorneys of record: NOTICE IS HEREBY GIVEN that on or before August 19, 1997, plaintiff Wininger will and hereby does move the court for appointment of plaintiff Wininger as lead plaintiff and appointment of The Mills Law Firm as class counsel. The Private Securities Litigation Reform Act of 1995 requires this court to decide this motion by August 19, 1997. See 15 U.S.C. § 78u-4(a)(3)(B)(i). As this deadline is in conflict with the 35-day notice period of Local Rule 7-2(a), the hearing date must be determined by stipulation or court order. If the parties cannot agree on a hearing date by stipulation, plaintiffs will move for an appropriate court order pursuant to Local Rule 7-8(c). This motion is based on this Motion and Memorandum of Points and Authorities in Support Thereof and the Declaration of Alex J. Luchenitser.

II. MOTION

Plaintiff Dwight E. Wininger hereby moves to be appointed lead plaintiff of the class, pursuant to 15 U.S.C. § 78u-4(a)(3)(B)(i). Plaintiff Wininger further moves for the appointment of The Mills Law Firm as class counsel, pursuant to 15 U.S.C. § 78u-4(a)(3)(B)(v).

III. MEMORANDUM OF POINTS AND AUTHORITIES

A. Background

This action is a class action, brought on behalf of the limited partners in Synthetic Industries, L.P., to remedy violations of federal securities laws committed by the individuals and entities which control Synthetic Industries, L.P. Because this lawsuit alleges violations of the Securities Exchange Act of 1934, 15 U.S.C. § 78a et seq., it is subject to the Private Securities Litigation Reform Act of 1995 (PSLRA). 15 U.S.C. § 78u-4(a)(1).

PSLRA requires that no later than 20 days after a complaint alleging federal securities violations is filed, a press release must be issued describing the complaint. 15 U.S.C. § 78u-4(a)(3)(A)(i). No later than 60 days after the press release is issued, any member of the class who wishes to serve as lead plaintiff in the case may make a motion to do so. 15 U.S.C. § 78u-4(a)(3)(A)(i)(II). The requirement of filing a motion to serve as lead plaintiff appears to be applicable to the plaintiff who filed the complaint. 15 U.S.C. § 78u-4(a)(3)(B)(i).

B. Plaintiff Wininger Complied With PSLRA's Notice Requirement

PSLRA provides:

Not later than 20 days after the date on which the complaint is filed, the plaintiff or plaintiffs shall cause to be published, in a widely circulated national business-oriented publication or wire service, a notice advising members of the purported plaintiff class--

(I) of the pendency of the action, the claims asserted therein, and the purported class period; and

(II) that, not later than 60 days after the date on which the notice is published, any member of the class may move the court to serve as lead plaintiff of the purported class.

Plaintiff Wininger filed this lawsuit on May 1, 1997. On May 21, 1997, counsel for plaintiff Wininger caused a press release meeting the requirements of PSLRA to be published on Business Wire, a widely circulated national business-oriented wire service. Luchenitser Decl. ¶ 1 & Exh. A.

Greebel v. FTP Software, Inc., 939 F. Supp. 57, 64 (D. Mass. 1996) holds that publication on Business Wire meets the requirements of PSLRA. As explained in Greebel, Business Wire "electronically disseminates full-text news releases for public and investor relations professionals simultaneously to the news media, on-line services and databases, the Internet and the investment community worldwide." Id. at 59. According to Greebel, "Business Wire is subscribed to by hundreds of print publications and wire services, encompassing news media in all fifty states." Id. at 62. In addition, "Business Wire press releases can be accessed directly by consumers of news through subscriber on-line services and databases." Id.

C. Plaintiff Wininger Meets the Requirements for Being Appointed Lead Plaintiff

PSLRA provides:

Not later than 90 days after the date on which a notice is published under subparagraph (A)(i), the court shall consider any motion made by a purported class member in response to the notice, including any motion by a class member who is not individually named as a plaintiff in the complaint or complaints, and shall appoint as lead plaintiff the member or members of the purported plaintiff class that the court determines to be most capable of adequately representing the interests of class members (hereafter in this paragraph referred to as the "most adequate plaintiff") in accordance with this subparagraph.

PSLRA further provides:

[T]he court shall adopt a presumption that the most adequate plaintiff in any private action arising under this title is the person or group of persons that --

(aa) has either filed the complaint or made a motion in response to a notice under subparagraph (A)(i);

(bb) in the determination of the court has the largest financial interest in the relief sought by the class;

(cc) otherwise satisfies the requirements of Rule 23 of the Federal Rules of Civil Procedure.

Plaintiff Wininger meets all three of these requirements and claims entitlement to the presumption of 15 U.S.C. § 78u-4(a)(3)(B)(iii)(I). Plaintiff Wininger filed the complaint. Plaintiff Wininger owns one-half of one partnership unit in Synthetic Industries, L.P., representing an initial capital contribution of $49,000. Luchenitser Decl., Exh. B ¶ 1, Exh. G. The Mills Law Firm, counsel for plaintiff Wininger, represents numerous other limited partners in Synthetic Industries, L.P. Luchenitser Decl. ¶ 3. To the best of plaintiff Wininger's knowledge, no one else has moved or intends to move to serve as lead plaintiff(s). Plaintiff Wininger will fairly and adequately protect the interests of the class. In addition, plaintiff Wininger has filed a certification in accordance with PSLRA (15 U.S.C. § 78u-4(a)(2)(A)) and Local Rule 3-7A(b), which require plaintiffs who file securities class actions to certify to certain matters. Luchenitser Decl., Exh. E, F.

D. The Mills Law Firm Meets the Requirements for Being Appointed Lead Counsel

PSLRA provides that "[t]he most adequate plaintiff shall, subject to the approval of the court, select and retain counsel to represent the class." 15 U.S.C. § 78u-4(a)(3)(B)(v). Plaintiff Wininger (assuming that he is appointed lead plaintiff) moves for the appointment of his counsel, The Mills Law Firm, as class counsel.

The Mills Law Firm has prosecuted numerous class actions on behalf of limited partners in limited partnerships. Luchenitser Decl., Exh. C. In compliance with Local Rule 3-7A(d), the attorneys for The Mills Law Firm who work on this case have filed certifications stating that they do not own any units in Synthetic Industries, L.P. Luchenitser Decl., Exh. D. If appointed as class counsel, The Mills Law Firm will vigorously defend the interests of the class.

E. Conclusion

For the foregoing reasons, plaintiff Wininger respectfully requests this court to appoint him as lead plaintiff and The Mills Law Firm as class counsel.