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Strategies & Market Trends : The New Economy and its Winners

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To: Lizzie Tudor who wrote (19958)	3/24/2004 10:25:41 AM
From: Bill Harmond	Read Replies (1) of 57684

NOVL expands commercial agreement with IBM (9.46 ) IBM will be able to ship SUSE Linux Enterprise server, licensed through NOVL, across its entire line of servers. The parties extended the existing agreement with SUSE Linux. Separately, NOVL also finalized the agreement with regards to IBM's $50M investment in NOVL, which was previously announced. IBM will purchase convertible shares, paying an quarterly dividend of 2% per annum, which can be converted into 8M shares of NOVL stock at $6.25. NOVL expects to record a one-time, non-cash dividend of $26M attributable to the value of the conversion feature. NOVL expects the event to reduce EPS in the current Q2 (April) by $0.08/share.

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