1. The webmaster is obviously active as his/her ranking didn't just enter the top 50 because he sat on his thumbs. This signals a willingness to change things.
2. The webmaster may not know he has just entered the top 50 so you could be the one bearing good news and informing him/her the ranking may get higher with an exchange of links due to Pagerank factors. Which you can imagine be quite effective :-)
3. The site may well be new, so you might be the first to be asking for a link exchange. This is always good news of course as you get in before the space runs out or whatever.
4. If the site is ranked in the top 50, it is fair to assume the site has a reasonable Google PageRank. Normally above 3 or four for semi competitive phrases.
I think you'd agree with the right link request email, Google Alert could be a powerful tool in your link building campaign!
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