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To: Philip W. Dunton, Jr who wrote (2408)	1/12/2000 9:22:00 PM
From: Philip W. Dunton, Jr	Read Replies (1) \| Respond to of 3661

Ian, What is the significance of this news? Etec Systems Soars After Hours as Applied Materials Takes It Over By Eileen Kinsella Staff Reporter 1/12/00 7:53 PM ET Applied Materials (AMAT:Nasdaq - news) said it would acquire Etec Systems (ETEC:Nasdaq - news) in a stock swap worth $1.77 billion based on the companies' value at the close of trading Wednesday. In an announcement after the markets closed, the Santa Clara, Calif., supplier of semiconductor parts and services said it would exchange 0.649 of a share for each Etec share. Etec makes laser systems that produce masks used to print circuit patterns onto semiconductor wafers. The company is based in Hayward, Calif. After the announcement, shares of Applied Materials fell 2 1/16 to 125, while shares of Etec gained more than 25 to 75 1/2, according to Instinet. Etec lately was trading at 76 on Island, with Applied Materials last traded at 124.