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To: Mark Fowler who wrote (81978)	10/27/1999 1:12:00 AM
From: H James Morris	Read Replies (3) \| Respond to of 164684

Mark, give me Jnic or give me toast. << NEW YORK, Oct 26 (Reuters) - JNI Corp. is slated to debut on Wall Street this week, and investors are excited about the company's initial public offering because its technology will help firms manage and store the growing amount of electronic data generated. The San Diego-based firm, which designs fibre channel hardware and software products that connect servers to data storage devices to form storage area networks (SANs), plans to offer 4.9 million shares in a range of $15-17. The offering, led by Donaldson, Lufkin & Jenrette, represents a 22.5 percent stake in the company. "The amount of data (created) because of the Web is exploding beyond belief and the old ways to manage it are not going to work," said Tom Taulli, an analyst at Internet.com, who noted that JNI worked with a new standard (fibre channel protocol). "JNI is the leader. Sales are going through the roof; this could be on fire. They have taken the standard to new heights and are in a position to clean up." IDC forecasts that the market for products based on fibre channel technology will grow to about $23 billion by 2002 from 2 billion in 1998. Unlike many recent IPOs, JNI posted a profit of $2.2 million on revenues of $25.76 million for the nine months ended Sept. 30. JNI is a unit of Jaymark Inc., which will own 71.2 percent of the company. Adaptec Inc. <ADPT.O> will hold about 9 percent of JNI's stock. Competitors include Hewlett-Packard Co. <HWP.N>, QLogic Corp. <QLGC.O> and Sun Microsystems Inc. <SUNW.O>. "It has the magic words. It could be run by Attila the Hun, but if it has SAN as part of its description, it is going to do well. In addition, this happens to be a decent company. It has good fundamentals. (The deal) is going to be explosive," said Irv DeGraw, research director at WorldFinanceNet.com, noting the recent reception given to Crossroads Systems Inc.<CRDS.O>. Crossroads' routers connect powerful computers and storage systems to form SANs. The company priced at $18 a share last week and was last trading on Nasdaq at 67-1/2. JNI is expected to trade on Nasdaq under the symbol <JNIC.O>. 20:13 10-26-99>>