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To: Jerry Olson who wrote (875)	6/25/2002 7:43:50 PM
From: Frederick Langford	Read Replies (1) \| Respond to of 1854

Be careful out there tomorrow: 6:26PM WorldCom engaged in accounting fraud:CNBC (WCOM) 0.83 -0.08: CNBC reporting that WCOM has engaged in fraudulent accounting over the past five quarters; says that company recorded many regular expenses as capital expenditures, boosting EBITDA by $3.6 bln over the past five quarters. CNBC also reports that the CFO has been dismissed in the last 48 hours. Though misreporting regular expenses as capex does not affect cash flow, it can affect estimates of a company's future earnings power; CNBC also adds that the company will soon restate its earnings to reflect these issues. WCOM plunges after hours to 0.38, off 0.50 from the close. 5:50PM Micron (MU) 19.75 +0.03: -- Update -- On conference call, company does not provide specific guidance for Q4 (Aug)... Since early April, prices have been under pressure. For example, its 256 product has been reduced to $5 from $10 per unit.... stock at 18.17. 5:07PM Micron misses by ten cents (MU) 19.75 +0.03: Reports Q3 (May) loss of $0.04 per share, $0.10 worse than the Multex consensus of $0.06; revenues fell 3.9% year/year to $771.2 mln vs the $946.3 mln consensus; company closed out Q3 with approximately $1.3 billion in cash and liquid investments. Got Gold? <g> Fred