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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: hlpinout who wrote (57117)	4/12/1999 6:50:00 AM
From: rupert1	Read Replies (1) \| Respond to of 97611

hio: This is a letter from EP to COMPAQ employees on Friday. I am also hearing from someone close to COMPAQ that EP and Mason were on the carpet before the Board of Directors. This ties in with what she_x reported on Friday. From EP to employees of COMPAQ From my earlier communication this year, you have been aware that we were facing a difficult first quarter in terms of demand and competition in the market, particularly with regards to pricing. While each of you has worked hard to achieve the first quarter financial objectives, we were unable to reach our initial forecasts. Friday afternoon, we issued a press release informing the public that 1Q revenue and earnings will not be meeting analysts' estimates. I have asked each of my managers to work aggressively to assess their business and manage their financial models to be in line with forecasts. Specifically, we must focus on managing efficiencies, reducing operating costs and managing expenses. With this message, I am asking each of you to contribute to these efforts in every possible way. I am confident in our future direction. We have the most compelling strategy in the industry today, offering the most robust line of products and services anywhere. Our strategy to focus on achieving Internet leadership in all aspects of our business is fundamentally sound and competitively unmatched. Next week we will be announcing at Innovate 99 an aggressive new enterprise strategy that will ignite growth and opportunity for the company. We will also continue to drive leadership in our PC business. As a company, we are known for our ability to succeed in extreme competition. Today is no different. I look to each of you to stay focused on improving our capabilities and profitability and achieving industry leadership. EP