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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (638)	9/12/2000 12:50:22 PM
From: Dealer	Respond to of 65232

SEBL-- Morning Comments from Chase H&Q 9/12/00 Source: Chase H&Q San Francisco, CA, September 12, 2000, 9:00 PST Visit the CNET Brokerage Center for daily reports from the top Wall Street analysts. * Siebel Systems, Inc. (SEBL) $88.63 - $44B mkt cap: Siebel Pays Strapping $975M for Acquisition of Canadian-based Janna Systems; Maintain BUY rating, keep on Focus List. CY00: UNCHANGED $1.6B/0.42 CY01: UNCHANGED $2.2B/0.58 · Janna acquired for 11M SEBL shares or a steep $975M; deal expected to close in November · Acquisition price represents a 33% premium to JAN's last trading price of CD$49 · Deal expected to be dilutive by $0.01 in Q4 2000 & neutral to slightly accretive in 2001 · Complementary product architectures facilitate integration due out w/ next release in June '01 · Pragmatic acquisition provides needed domain expertise & functionality in institutional finance · Tightens hold on key financial services vertical; maintain BUY rating, keep on Focus List