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Technology Stocks : Bindview Develpment (NASDAQ: BVEW)
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To: TimmFred who wrote (168)5/3/2001 3:14:51 PM
From: Gordon A. Langston  Read Replies (1) of 171
 
New CFO

BindView Shareholders & Interested Parties,

Since I am seeing speculation on this thread regarding my past involvement with Mr. Pierce, I felt it
appropriate to make some commentary available.

I dealt with Eddie in 1999-2000 as Metamor was preparing to spinoff Xpedior. Chap-Cap Partners,
L.P. had taken a stake in MMWW as we felt the breakup value of the entity was significantly higher
than where the stock was trading (mid-high teens). Fortunately, Eddie's hard work putting together the
spinoff and the subsequent sale to PSINet paid off, with the stock doubling in value.

My impression of Eddie is very strong. He was incredibly honest and exuded integrity in every
possible fashion. I feel very confident we won't be seeing any more financial restatements as occurred
under the Gardner/Plantowsky regime. In addition, Mr. Pierce's reputation on Wall Street is solid,
which should attract new investors who otherwise would have been forced to deal with Pulaski and
Gardner in the past.

We are very fortunate to have Eddie Pierce on board. I can think of no better candidate. Having spoken
with Daniel Loeb of Third Point Management, I think I speak for our 13D group in saying that we are
thrilled about this appointment. As a result, subject to extraordinary events, we plan to take a "wait and
see" approach to the company's turnaround efforts for an estimated 1-2 quarters.

Robert L. Chapman, Jr.
Man. Member, Chapman Capital L.L.C.
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