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To: wlheatmoon who wrote (46781)	6/14/1999 10:07:00 AM
From: John Pitera	Read Replies (1) \| Respond to of 86076

Mike, I am being more selective than buying on any dip there is a lot of carnage occurring, but I agree that we have a short list of big telco plays to buy on the cheap. Thanks for the article mention from Barron's Business opportunities will abound as communications systems shift from closed boxes -- supplied by the likes of Lucent Technologies and Northern Telecom -- to open boxes -- also supplied by Lucent and Nortel, not to mention Cisco, 3Com and smaller outfits like Dialogic. Along with the prospect of new service businesses and "shrink-wrapped" software, the penetration of computer standards into telecom boxes is creating a booming semiconductor market for communications chips. Conexant Systems, the billion-dollar spinoff from Rockwell International, told investors last week that strong growth in sales of its chips for Internet access would likely push June quarter earnings significantly above expectations. On June 1, Intel announced a deal to buy Dialogic for $780 million in cash -- enlisting the giant chipmaker to Dialogic's crusade to deliver telephone services from industry standard computers. Not long before, Microsoft had licensed Dialogic's software and taken a 5% stake in the Parsippany, New Jersey, firm, in exchange for $24.2 million.