Mississippi State University Alumni, Inc. - Page 26

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          Respondent speculates that PB&T paid only petitioner's costs for            
          advertising in Alumnus, but the record does not so indicate.                
               Respondent contends that petitioner and PB&T had an                    
          understanding that petitioner would participate in advertising              
          the credit cards.  This contention is at odds with the contracts            
          between PB&T and petitioner and Grafton’s and Brown’s testimony             
          that there was no unwritten understanding.  Petitioner did not              
          participate in advertising the credit cards.                                
               8.   Mailing List With MSU Students and Faculty                        
               Respondent contends that petitioner gathered and gave to               
          PB&T the names and addresses of MSU faculty and the parents of              
          MSU students, that those names were not in petitioner's data                
          base, and that doing so was a service to PB&T.  Respondent's                
          contention is speculative and based in part on the fact that                
          petitioner billed PB&T for 4,000 envelopes and sheets of                    
          petitioner's stationery and for 3,124 mailing labels for the MSU            
          faculty and staff.  There was no testimony about this bill.  A              
          handwritten note on it says that it was for stationery and                  
          supplies; it does not say that it was for services.                         
               9.   Olympic Gold Coin Program                                         
               Respondent contends that petitioner's participation in the             
          Olympic gold coin program shows that the payments from PB&T were            
          not royalties.  We disagree.  PB&T received a solicitation from a           
          vendor and offered to share with petitioner any commissions for             
          orders it received from petitioner's members.  There were no                




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