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To: Michael Bakunin who wrote (50827)	3/17/2000 3:11:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 53903

Michael, the reason I am calling for the scenario now, rather than a double top scenario (peak here, valley in June and reemergence after October) is that I have a lot of respect for Appleton and TI's financial types. There is nothing preventing Appleton approaching TI and asking if they might be interested in an early conversion, the market conditions are ripe for TI here and now to distribute these shares (if not already done via various hedging vehicles), why wait until October, unless TI thought that they should stay in the stock (but then they would not have deserted the DRAM business) long term. I doubt that the "powers" on the street would want to go through the same exercise twice a year, furthermore, the whole drive for the "powers" is to repair MU balance sheet so as to ready the market for a new financing, that is when the "powers" collect their fat fee. Zeev

To: Michael Bakunin who wrote (50827)	3/17/2000 3:39:00 PM
From: Steve Robinett	Respond to of 53903

--Michael Not only, as you point out, would the paper trail show any conversion, aren't we talking about 20mm shares, roughly 4 days worth of average volume, 7.5% of the outstanding shares. Assuming the holders of the shares from the converted debt wanted to sell their shares, they could lay off this amount over a week or so and have no effect on the share price at the margin. So where's the be down-draft due to conversion? Am I missing something? Best --Steve