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Technology Stocks : Alliance Semiconductor -- Ignore unavailable to you. Want to Upgrade?

To: DJBEINO who wrote (5637)	7/29/1999 6:49:00 PM
From: Ken Muller	Read Replies (2) \| Respond to of 9582

DJBEINO: There is one additional factor in the UMC merger which need to be clearly defined. As you are aware, UMC recently announced a 15% share distribution dividend. This was announced after the news of the USC, USIC , UMC merger was released. The president of S3 was asked specifically during the S3 conference call whether S3 would be receiving this additional 15% distribution. He answered yes. This would imply that, in addition to the 247 million shares for USC and the 35.6 million shares for USIC, ALSC should also be receiving an additional 15% on top of that. (I am assuming that ALSC is receiving the same deal as S3 and that Potashner's statement was accurate.) That would add 42.4 million shares of UMC to the ALSC valuation number. This will add approx $2 per share to the projected book value. Does this addtl 15% match up with your understanding of the merger deal?