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To: Bruce Brown who wrote (25859)	6/5/2000 11:25:00 AM
From: Mike Buckley	Respond to of 54805

All of us that own shares of EMC will be given shares of McData within 6 to 12 months post IPO in the form which is treated as a stock dividend. (Mike, correct me if I'm wrong on the way that form is treated in terms of taxation and delivery.) Yes, that's accurate. Based on past experience with spin-offs, the company will send shareholders information about that when it happens. For people with shares in taxed accounts, it's important to keep that information because it establishes the method of calculating the cost basis of the shares that were spun off. --Mike Buckley

To: Bruce Brown who wrote (25859)	6/5/2000 11:52:00 AM
From: Eric L	Respond to of 54805

<< EMC shareholders >> Speaking of which, the 2:1 split was effective today. - Eric -

To: Bruce Brown who wrote (25859)	6/5/2000 2:03:00 PM
From: Greg Hull	Read Replies (1) \| Respond to of 54805

Bruce, <<I would be interested in your thoughts about EMC shareholders decision as to what the underlying value of the McData shares might be as long term investments in the space.>> I have posted a couple comments and questions on the EMC and other threads regarding the McData IPO. My opinion is not terribly well informed, but I don't see the attraction to holding MCDT shares. I think EMC is doing what is best for EMC, rather than EMC (MCDT) shareholders. EMC has increased their emphasis on software and decreased the hardware side. Their software is intended to run over many channels/networks, not just ESCON and FICON. Their Enterprise Storage Networks shouldn't care whether SCSI, Fibre Channel, Gigabit Ethernet, or InfiniBand is used to connect the hardware. They want to manage and move the data stored on the drives. There have been rumors of EMC shopping McData, but I have no idea if this is true. Brocade was one of the companies mentioned as a suitor. It is possible such a sale could be announced prior to the IPO, or certainly after. If EMC intended to retain shares of MCDT I might have a different opinion. I'm interpreting the distribution to EMC shareholders as saying Good Riddance, but this may be unfair. I don't know about tax ramifications or other reasons that would require complete distribution. If EMC thought hidden value in McData could be unlocked through an IPO I would think EMC would want to keep a piece of the action to benefit from the unlocking. Instead I think EMC management is saying EMC is better off without McData than with. This impression colors my desire to own MCDT. For a more informed opinion see Message 13808372 and Message 13818938 What do you and others think about the IPO? Greg P.S. I am so sorry to hear about your cousin. The fear and uncertainty must be very difficult for you and your family. We wish you a quick and positive resolution.