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Gentlemen, Forgive the string of emails, but I thought a more expedient way to confirm Mr. Lay's current reported holdings would be to lay them out in a spreadsheet. This is a list of both Mr. Lay's direct and indirect holdings at companies I understand he is either a director or executive of. Please let me know if there are any errors, and I have one question about what Mr. Lay's indirect holdings of Compaq are. Many thanks, and I look forward to hearing back from you by Tuesday morning (Nov. 13). Regards,

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WSJ - for confirmation