Concerning the attached letter, which McCormack has mailed to Heiniger, in which McCormack proposes a relationship between IMG and Rolex in the area of sports and sports marketing, as well as classical music and the arts, on a worldwide basis. McCormack suggests putting this relationship into effect January 1, 1994, as the current contract between IMG and Rolex is due to expire on December 31, 1993, as is indicated by the attached letter.
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