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Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: Spartex who wrote (22651)	6/13/1998 10:54:00 AM
From: Spartex	Read Replies (1) \| Respond to of 42771

FYI, QuadK <quadk@yahoo.com> 06/12 10:20 AM >>> Jon: I have a few question for you regarding Novell's decision to buy back up to 10% of the open market shares over the next year. 1) Are you limited each quarter in terms of how many shares the company can buy (e.g. only 8-9 mil per quarter, versus all 35 mil in one to two quarters)? 2) I heard from a yahoo NOVL thread poster that companies are restricted from buying back their shares during the last 1/2 hour of market trading. Do you know if this is true or not? 3) On a different issue, what is the typical period of time that Novell uses to annoucnce it's release of Netware upgrades, in this case NW5.0? Do you announce 30 days, 45 days before the release to the channel of resellers? Thanks again for your help in answering any of this information that would be publically available. Regards, QuadK Date: Fri, 12 Jun 1998 12:06:45 -0600 From: "Peter Troop" <peter_troop@novell.com> Add to Address Book To: quadk@yahoo.com Cc: JCOHEN@novell.com Subject: Re: Novell Information QuadK / Jonathan passed-on your message and asked me to respond. I'm director investor relations at Novell. The repurchase authorization spans twelve months through May 1999. The company has discretion as to when, at what price, and to what extent it repurchases shares during this period. The company will not make public its share repurchases until well after they are completed. Disclosure of share repurchase and retirement will come in filings with the Securities and Exchange Commission of quarterly Form 10-Qs and the annual Form 10-K. Companies can't manipulate their share price, which means care must be used it the repurchase of shares to not disrupt the general market for the stock. It requires careful measured buying. SEC rule 10B-19 is explicit. The company cannot set bids ahead of market opening; it can't make purchases at prices higher than independent offers, purchases must be in blocks and can't be made during the last half-hour of trading. In the case of NetWare 5 upgrades, the NetWare First Look program provides the first availability of upgrades at a 20 percent premium over the cost of NetWare 4. This programs was launched in early May. Novell's MLA customers will receive the first delivery of upgrades to NetWare 5 under their maintenance contracts when First Customer Ship begins. Peter Troop Novell Investor Relations ptroop@novell.com www.novell.com ____________________________________________ Phone: (408)577-8361 Fax: (408)577-5921 2180 Fortune Drive San Jose, Ca. 95131

To: Spartex who wrote (22651)	6/13/1998 12:33:00 PM
From: Steve Fancy	Respond to of 42771

Been trying Quad, but I've been through things like this before with other companies. Not a matter of being right or wrong and I will probably buy back in sometime this year. Unfortunately I still believe that John Young is in control, and don't trust him. The stock buy back was the first encouraging sign I've seen that maybe the BOD is seeing the light. This group (BOD) has been so lacking in vision, and perhaps engaged in illegal bookkeeping, that I have really been spooked. As Elmo pointed out, that fact that the BOD room seem so opposed to outsiders really bothers me. I'll fully divorce myself from the past (as many others) when I'm convinced the problems of the past are gone, or at least on their way out. Good luck. sf