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To: Victor Lazlo who wrote (132491)	10/4/2001 12:37:04 AM
From: H James Morris	Read Replies (1) \| Respond to of 164684

Vic, CSFB made me do it. They put a gun to my head and said we have a strong buy on OPWV so buy it. >At $7, OpenWave trades at 17.5 times next year's earnings estimate. Yet, that multiple may still be too high if assumptions for a pickup in demand don't materialize. "The existence of the wireless Internet continued to fall short of expectations. People will ultimately be using mobile phones to retrieve Internet data, but it will take a lot longer," said Peter Friedland, an analyst at W.R. Hambrecht, who has a "neutral" rating on OpenWave's shares. CS First Boston's Cabi still rates the stock a "strong buy." CS First Boston brought Phone.com public in April 1999 at a split-adjusted price of $8. The investment bank went on to lead Phone.com's $1.02 billion follow-on offering in November 1999, according to Dealogic. What's more, CS First Boston also advised Phone.com in its $7.8 billion merger with Software.com, which was announced just over a year ago. The combined company became OpenWave.