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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 76.94

+1.1%

Nov 28 9:30 AM EST

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To: Don Lloyd who wrote (64521)	9/14/2003 10:26:23 AM
From: PerryA	Read Replies (2) of 77400

It is the shareholders who actually pay stock and option compensation expenses. They can pay it in ownership dilution .... Doesn't matter. They have confused you by combining a financing activity with the compensation activity. The combination means that corporations can pay people without the use of cash and that shareholders risk dilution, but don't let that through you off. It is still an expense paid by the company. Regards, PerryA

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