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Non-Tech : HMT TECHNOLOGY - UNDISCOVERED YET!
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To: Michael Berkel who started this subject8/3/2000 3:55:21 PM
From: bob zagorin   of 2253
 
On August 2, 2000 the following memorandum was distributed to Komag employees:

Dear Komag Employees,

I am sure you saw the large drop in our stock price today. The only
explanation that I can understand for the drop is that we were removed from the
S&P 600 Small Cap Index because of their arbitrary rules. This is no reflection
on the company's performance.

As you all know we have executed extraordinarily well. Every target we have
set for ourselves has been achieved. The company has the right cost structure to
be competitive in the industry. Our products have been well accepted by our
customers and our volumes have grown when most other companies have seen
declining shipments. Over the last four weeks we have been producing at a rate
of almost 1M units per week. We have resolved our issues with our lenders. The
path is cleared to merge with our largest competitor, making both of our
companies stronger. Our business is positively generating cash. And now we are
in the early stages of diversifying our business. Unfortunately the investment
market still does not understand the change in value of the enterprise.

I want you to understand that I value all of your contributions. We will
survive and be successful. It is asking a lot of you to be patient enough to
wait until the rest of the world catches up with us. But that is what I am
asking and I know you will respond with the same grit and determination that has characterized your work so far.

Thank you,

TH Tan
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