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A simple model of a classical spin-glass with weakly correlated disorder is presented. It includes both randomness and frustration, and is exactly soluble, but its solution can be obtained without replicas. Among the several phases of the model a mixed phase is found where spin-glass and ferromagnetism coexist. In addition the characteristic S shape of the spin-glass magnetization is reproduced.
J. Leo van Hemmen (Mon,) studied this question.