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To: Elmer Phud who wrote (178340)	6/20/2004 5:30:34 PM
From: Lizzie Tudor	Respond to of 186894

something options related you might be interested in Calpers Backs eBay's Options Plan eBay (EBAY:Nasdaq - commentary - research) picked up another -- somewhat unexpected -- endorsement of its controversial stock options plan on Friday, as the nation's largest pension fund gave the company its stamp of approval. The California Public Employees Retirement System on Friday voted its 3.5 million eBay shares in favor of a management initiative to significantly expand the options available to the company under two of its current stock plans. Calpers published the vote on its Web site. Shortly after the vote was released, the Web site published a message that said the site would be unavailable from 5 to 7 p.m. PDT. thestreet.com (this authors bias against options is about as subtle as a rhino charge)

To: Elmer Phud who wrote (178340)	6/21/2004 7:28:25 AM
From: robert b furman	Respond to of 186894

Hi elmerp, I think for those who haven't followed the CEO's comments in the past,this marks a huge change of position. Past record quarters in revenue have been consistently poo- pooed by not seeing business PC upgrade cycle yet / in contrast to Micrsoft comment about seeing it start last quarter. This is quite a position change and is rightly being quoted everywhere (just heard it on CNBC). Bob