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We are developing tools to support a conversational metaphor for requirements definition and analysis. Our conversational model consists of three components: (1) a hypertextual representation of requirements and their interrelations, (2) an issue-based speech act model, and (3) a typology of changes. These components act together in a model we call the 'inquiry cycle'. We discuss requirements analysis activities supported by the conversational model, including information retrieval and navigation, rationale management, and agenda management. We have implemented a prototype active hypertext system, and we have applied our model and implementation to the requirements for an ATM banking system, an example we use in the paper for illustration.