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Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?

To: KevRupert who wrote (15847)	8/26/2000 3:00:47 PM
From: KevRupert	Read Replies (1) \| Respond to of 21876

Avaya Spinoff Figures by 9/1/2000: My interpretation: Based upon Avaya/Lucent press releases (read below), the actual ratio for the Avaya spinoff should occur within 30 days of the spinoff (9/30/2000). That would lend support for the figures being announced by this Friday (9/1/2000). 11. When will Lucent distribute stock in Avaya to Lucent shareowners? We expect the record date, or the date by which you have to own Lucent stock to be eligible to receive distributed shares of Avaya, to be in mid-September, with a distribution of Avaya stock to Lucent shareowners on September 30. 12. When will trading in Avaya stock begin? Trading in Avaya stock will begin on a "when issued" basis in mid- September. By "when issued," we mean trading as if the stock were already issued and separately trading from Lucent stock. We expect regular trading in Avaya's stock will begin on Monday, October 2. 13. Will Avaya be listed on the NY Stock Exchange? We will be listed on the NYSE stock exchange once the spin off is complete at the end of September. We'll be announcing the stock symbol at that time. 14. How many shares of Avaya will shareowners get for each share of Lucent they own? The actual ratio for the number of unrestricted shares each shareowner receives will be determined about 30 days before the actual spinoff.

To: KevRupert who wrote (15847)	8/26/2000 10:32:06 PM
From: Georgeb	Read Replies (1) \| Respond to of 21876

If you use 1999 revenues as a guide: Enterprise..................$8,559M...22% Service Provider Networks...$23,562M..62% Microelectronics............$5,424M...14% Operating income: Enterprise..................$651M.....11% Service Provider Networks...$23,562...74% Microelectronics............$5424M....15% Enterprise (Avaya) was 22% by revenues, as a same percent of the current price that would be $9 per share. If you use operating income however, that is only 11% of the total, which is $4.50. As a better measure of profitability, wouldnt that be the way to fix the price? How did your report calculate the spinoff price?