Guys:

I reported the settlement email to [EMAIL PROTECTED] and this is, in its entirety, the 
reply:

Dear Sue Ellen Picker,

Thank you for contacting PayPal.

Thank you for bringing the "Notice of Pendency of Class Action and Proposed
Settlement¨ email to our attention. We can confirm that PayPal sent this
email. We apologize for any confusion this may have caused.

On June 11th, 2004 PayPal entered into a Settlement Agreement with Girard
Gibbs & De Bartolomeo LLP and Wolf Popper LLP for a lawsuit filed in 2002
on behalf of a class alleging that PayPal did not appropriately communicate
about customer transactions and did not appropriately process limits that
were placed on some customer accounts. In this agreement, PayPal does not
acknowledge that any of the allegations in the case are true and entered
into the Settlement Agreement to avoid further costs of litigation, and to
devote resources to more productive areas of our business

PayPal's employees and subsidiaries can not provide information or legal
advice in relation to the class action lawsuit and proposed settlement. You
may seek additional information about the settlement from the attorneys for
the class. They can be reached via email or by first class mail at:

[EMAIL PROTECTED]

Girard Gibbs & De Bartolomeo LLP
601 California Street, Suite 1400
San Francisco, California 94108

Wolf Popper LLP
845 Third Avenue
New York, NY 10022

Additionally, you can obtain more information at
http://www.settlement4onlinepayments.com.

If you have any further questions regarding your account, please log in to
your PayPal account and click on Help (located on the upper right side) ³
Contact Us ³ Help by Email ³ Contact Customer Service.

Sincerely,

PayPal Account Review Department
PayPal


Thus, it is real.  The matter is **pending.**  See the link above for further info.

Sue Ellen

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