Production Group International
2200 Wilson Blvd.
Arlington, VA 22201-3324
tel. (703) 528-8484
fax (703) 528-1724
October 29, 1998
Attn: Suzanne Riley
Securities & Exchange Commission
450 5th Street, N.W.
Washington, DC 20549
Dear Ms. Riley:
We respectfully request that PGI's registration on Form S-1 #333-14879
be withdrawn. There are no plans at this time to go public with our stock, and
no public or private offering or sale of common stock has been made. Presently,
the market conditions do not warrant a public offering.
A decision was made by management to raise ten million in capital,
privately, through a convertible preferred stock offering. As noted in the
registration, the Initial Public Offering was a sale of common stock. The
preferred stock offering was closed in March, 1998. Attachment A is a list of
the participants in the private offering. As you can see, ten were corporate
shareholders and the remainder were officers or directors of PGI, Inc., previous
preferred shareholders of PGI, Inc. or employees of previous corporate
shareholders. If you have any questions or need additional assistance, please
contact me at (703) 312-9148.
Sincerely,
Production Group International
By: /s/Cynthia Engel
-----------------------------------
Cynthia Engel
President & Chief Operating Officer
Enclosure
<PAGE>
ATTACHMENT A
PGI, Inc.
<TABLE>
<CAPTION>
- ------------------------------------------------------ -----------------------------------------------------
<S> <C>
Name of Company/Individual Total Shares
- ------------------------------------------------------ -----------------------------------------------------
- ------------------------------------------------------ -----------------------------------------------------
Mellon Bank 653,106
- ------------------------------------------------------ -----------------------------------------------------
- ------------------------------------------------------ -----------------------------------------------------
WLD/Lamont Partners 402,333
- ------------------------------------------------------ -----------------------------------------------------
- ------------------------------------------------------ -----------------------------------------------------
Sierra Ventures IV, L.P. 361,077
- ------------------------------------------------------ -----------------------------------------------------
- ------------------------------------------------------ -----------------------------------------------------
Sierra Ventures IV International 14,458
- ------------------------------------------------------ -----------------------------------------------------
- ------------------------------------------------------ -----------------------------------------------------
Trident Capital Fund-I, C.V. 30,227
- ------------------------------------------------------ -----------------------------------------------------
- ------------------------------------------------------ -----------------------------------------------------
Trident Capital Fund I, L.P. 152,799
- ------------------------------------------------------ -----------------------------------------------------
- ------------------------------------------------------ -----------------------------------------------------
Orchid & Co. 273,477
- ------------------------------------------------------ -----------------------------------------------------
- ------------------------------------------------------ -----------------------------------------------------
Merifin Capital, N.V. 493,882
- ------------------------------------------------------ -----------------------------------------------------
- ------------------------------------------------------ -----------------------------------------------------
Frederic C. Hamilton 32,655
- ------------------------------------------------------ -----------------------------------------------------
- ------------------------------------------------------ -----------------------------------------------------
Mercury Partners 128,058
- ------------------------------------------------------ -----------------------------------------------------
- ------------------------------------------------------ -----------------------------------------------------
Donald Dixon - PGI Board Member/Trident Capital 28,572
Partner
- ------------------------------------------------------ -----------------------------------------------------
- ------------------------------------------------------ -----------------------------------------------------
Robert C. McCormack - PGI Board Member/Trident 257,143
Capital Partner
- ------------------------------------------------------ -----------------------------------------------------
- ------------------------------------------------------ -----------------------------------------------------
Stanford University 4,285
- ------------------------------------------------------ -----------------------------------------------------
- ------------------------------------------------------ -----------------------------------------------------
Cyril Wismar - Officer PGI, Inc. 1,500
- ------------------------------------------------------ -----------------------------------------------------
- ------------------------------------------------------ -----------------------------------------------------
Alexander Mackenzie - Officer PGI, Inc. 3,000
- ------------------------------------------------------ -----------------------------------------------------
- ------------------------------------------------------ -----------------------------------------------------
John Morange 8,143
- ------------------------------------------------------ -----------------------------------------------------
- ------------------------------------------------------ -----------------------------------------------------
Christopher Marshal - Trident Capital Partner 7,143
- ------------------------------------------------------ -----------------------------------------------------
- ------------------------------------------------------ -----------------------------------------------------
Todd Springer - Trident Capital Partner 4,285
- ------------------------------------------------------ -----------------------------------------------------
- ------------------------------------------------------ -----------------------------------------------------
Mark N. Sirangelo - Founder PGI, Inc. 1,000
- ------------------------------------------------------ -----------------------------------------------------
</TABLE>
