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Technology Stocks : John, Mike & Tom's Wild World of Stocks -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (916)	4/26/2000 7:02:00 PM
From: John Pitera	Respond to of 2850

Brocade (BRCD-$111-SB) New OEM Agreement George Kelly/Gillian Munson Under terms of a new OEM agreement, EMC (EMC-$134-O, covered by G. Munson) is now shipping the BRCD 16-port SilkWorm 2800 and 8-port 2400 FC switches, under the Connectrix DS brand name. The 2800 becomes the newest element of the EMC Enterprise Storage Network (ESN). This announcement allows BRCD to leverage thousands of EMC worldwide sales representatives who can sell these switches directly now, not just through Data General and CLARiiON. We expect BRCD to get the majority of EMC sales. Ancor Communications (ANCR-$33-NR) was also announced as a supplier, however EMC lets customers pick their switch supplier. We believe they'll continue to choose BRCD. We maintain our Strong Buy rating with a 12-month price target of $175, assuming the stock trades at 39x C2002E revenue of $700MM. We believe BRCD is emerging as the FC switch leader across the majority of storage platforms.