Phillippe Haute Gamme?
 

I ran across this bike and did a little searching but never heard of the brand or anything before. I wondering if anyone knows anything about this brand or this bike.

http://cgi.ebay.com/PHILLIPPE-61cm-O...QQcmdZViewItem

nope, never heard of it, sorry. Sure is one rusty puppy. It has an SLX decal and very "late '80s" sprayed-through-netting fade paint...but there's something about it that looks cheap to me, maybe the rust is clouding my view. If you took away the SLX decal I'd guess that is was mid-level and probably Aelle tubing made in Italy for some shop in France or Belgium as a house brand...all just guesses I'm afraid.
On the up side: for that price if you're willing to expend the elbow grease to clean de-rust and lube, it might be a great rider with decent gruppo. Certainly not overpriced for a local to pick up, with shipping it might not be so great.