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Technology Stocks : WDC/Sandisk Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Michael A. Gottesman who wrote (10706)	4/28/2000 5:30:00 PM
From: Ausdauer	Respond to of 60323

Mike, I believe the UMC investment totaled some $51 million dollars. Message 12576674 Aus

To: Michael A. Gottesman who wrote (10706)	4/29/2000 7:33:00 AM
From: Art Bechhoefer	Read Replies (1) \| Respond to of 60323

Mike, is that $453.9 million the TOTAL value of the original investment or the value of the REMAINDER held by SNDK? If I recall correctly, SNDK is precluded from selling the remainder of its shares for at least six months. If that is the case, the UMC shares (now TSMC) will eventually show up on the SNDK books under the category "cash and marketable securities," with the securities listed at the lower of cost or market. This is another extreme example of hidden assets, illustrating why the present market valuation of SNDK is just plain ridiculous. Art