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To: Lizzie Tudor who wrote (64541)	6/25/1999 2:35:00 PM
From: H James Morris	Respond to of 164684

Michelle, I didn't get even 1 share of Jnpr today. I was told it was reserved for Goldmans, and Kleiners preferred only:-((((( Another Kleiner Child!!!! Mountain View, California, June 25 (Bloomberg) -- Juniper Networks Inc. more than tripled in its first trading after the maker of computer-networking equipment sold shares to the public yesterday. The Mountain View, California, based company rose 64 to 98 as 4.8 million shares changed hands on the Nasdaq Stock Market in midafternoon trading. Earlier, the shares touched 105, giving the company a market value of $5.19 billion. The company and some of its shareholders sold 4.8 million shares at $34 each, raising $163.2 million. Goldman, Sachs & Co. handled the sale. The company aims to compete with industry leader Cisco Systems Inc. Last fall it started shipping its first product, the M40 router, which directs traffic over the Internet and other networks. UUNet Technologies Inc., a unit of MCI WorldCom Inc., and Verio Inc. are among Internet service providers that use Juniper's new switch. The market for so-called Internet backbone routers is expected to increase to $5.5 billion in 2003 from $169 million in 1998, as Internet service providers and phone companies demand new gear to manage growing traffic over their networks, according to forecasts cited in the filing. Juniper said it will use the IPO proceeds to meet working capital requirements and for other general corporate purposes. Juniper said it also may use some money for possible acquisitions. The company recorded a net loss of $6.7 million on revenue of $10 million in the first three months of 1999, according to a filing with the Securities and Exchange Commission. Scott Kriens, 41, is the company's chairman and chief executive. He helped found StrataCom Inc., a telecommunications equipment company acquired by Cisco in 1996. Pradeep Sindhu, 46, formerly a scientist at Xerox Corp.'s Palo Alto, California, research center, helped found Juniper in 1996. He serves as chief technical officer and vice chairman. Juniper has received investments from venture capital firm Kleiner, Perkins, Caufield & Byers and from Northern Telecom Ltd., according to the filing.