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To: Lizzie Tudor who wrote (89744)	1/18/1999 2:58:00 PM
From: Chuzzlewit	Respond to of 176387

Michelle, the rate of return is pre-tax. It is much too difficult to figure taxes on dividends because it is taxed as ordinary income and the tax brackets and rates and rules keep changing. But the difference would be moderate in any event. Yes, the theme was buy and hold through the breakup and aftermath (which continues to this day ATI whoopeee!!!). I, for one, believe that a lot of shareholder value would be unlocked if MSFT were broken up. While I like the idea of an MSFT breakup, I don't place too much credence in Bork's ideas -- he's a paid mercenary IMO. TTFN, CTC