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To: James Young who wrote (24211)	12/4/1997 2:57:00 PM
From: Patrick E.McDaniel	Read Replies (1) \| Respond to of 176387

James this is on par with earlier stock selling by Michael Dell which has been regular for years. Pat

To: James Young who wrote (24211)	12/4/1997 3:16:00 PM
From: Meathead	Respond to of 176387

This is significantly less than in the past. Before the last couple splits, he was selling 400,000 shares per year on average. This has nothing to do with confidence. All of his fortune is tied up in stock... he has to sell for spendin money. MEATHEAD

To: James Young who wrote (24211)	12/5/1997 12:44:00 AM
From: jbn3	Respond to of 176387

Re Michael DELL selling shares. James, No, it is not especially large. According to page 4 of the Notice of Annual Shareholders Meeting, as of 30 April 1997, (pre-split) Michael owned 16% of the company, or 26,894,200 shares. Even with what he has sold since then, and not including any stock options he may have received, he still has well over 50,000,000 shares. As you see, 300,000, while a lot to you and me, isn't a large portion of his total holding. He sells some shares periodically: he is a major contributor to Austin area philanthropies. He was also billed by the city of Austin for $600K in property taxes, which he is contesting. I feel sure he has to make quarterly payments to the IRS. And he makes major investments in other companies: recently he provided multi-million dollar financing for another company. I posted, but can't remember name of the company right now. Regards, 3