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To: Maxwell who wrote (62242)	8/10/1998 6:43:00 PM
From: Srini	Respond to of 186894

Article on Jerry's stock options in todays's WSJ W.J. Sanders III Advanced Micro Devices Inc. HIS GOODIES: Mr. Sanders benefited from a move shareholder activists loathe: lowering the exercise price on options as the stock sinks. AMD, a big Silicon Valley microchip maker, did just that for his options, five times from 1985 to 1990. Repriced options were among those the company co-founder exercised from 1993 to 1997 for a pretax profit of $28.3 million. In 1996 he received 2.5 million more options. The company landed on the latest list of nine worst performers in the California Public Employees' Retirement System's U.S. portfolio. COMPANY'S RATIONALE: Following investor pressures, Mr. Sanders and other top officers haven't been eligible for option repricing since 1993. AMD says the 1996 award was part of his contract renewal. Half of the 1996 options come with a performance incentive, vesting early if the share price reaches certain targets.

To: Maxwell who wrote (62242)	8/10/1998 6:47:00 PM
From: Paul Engel	Read Replies (1) \| Respond to of 186894

Maxwell - Re: " Do you think Mendocino will outperform K6-2? It will be tough since Mendocino has no 3D engine." Sorry, I meant to include the K6-2 - except, of course, for the 3D NOW instructions. The Mendicino will have better native FPU support and with the high speed on-chip L2 cache, should have very good 3D performance for routines that can execute out of the L2 cache. However, the Mendocino is aiming at the upper end of the LOW END SEGMENT - so 3D performance is not going to be a big issue. The Mendocino will essentially target AMD's K6-2 main market segment. Real 3D enthusiasts are a small minority. The Real Serious ones will go for the biggest fastest processor with Voodoo 2 graphics, etc - and these are high end machines - color them Intel. I'm sure there are a few budget "gamers" or "wannabe- gamers-but-can't-sfford-the-best" that will still prefer the K6-2. I doubt that this group will pull AMD out of the RED INK anytime soon. The Mendocino will have an immediate impact on AMD's K6-2 prices. Look for price cuts by AMD around August 24 time frame. Paul