Message-ID: <26493817.1075840277830.JavaMail.evans@thyme> Date: Tue, 12 Dec 2000 00:56:00 -0800 (PST) From: elizabeth.davis@compaq.com To: houirtreas@compaq.com Subject: Financial Analysts' Reports for 12.12.00 Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: "Davis, Elizabeth" X-To: HOU IR Treas X-cc: X-bcc: X-Folder: \Kenneth_Lay_Dec2000\Notes Folders\Notes inbox X-Origin: LAY-K X-FileName: klay.nsf Please open the attached file to read the complete text of the following items: 06:40AM EST 12-DEC-00 UBS WARBURG (US) (YOUNG, DON) SUNW NTAP SUN MICROSYSTEMS: CAUTIOUS NEAR-TERM 08:33AM EST 12-DEC-00 BOFA MONTGOMERY (KING, KURTIS R) SUNW SUNW: SUNW CHANNEL CHECKS COMING IN NEGATIVE; DOWNGRADING TO BUY 00:20AM EST 12-DEC-00 MERRILL LYNCH (S.MILUNOVICH) CSCO TECH STRATEGY:MORE AGGRESSIVE SHORT TERM 08:23AM EST 12-DEC-00 PRUDENTIAL SECURITIES (H.MOSESMANN) AMD INTC AMD: DOWNSIDE PRE-ANNOUCEMENT. NOT A SURPRISE. <<12.12.00 Analyst Reports.doc>> The analyst reports provided are reports prepared by independent analysts who monitor and track Compaq's performance. These reports are not prepared by or at the direction of Compaq and as a result, Compaq is not endorsing or verifying the information contained in these reports or endorsing any of these analysts. These reports are being provided solely for business reasons and as a result, do not distribute these reports to other individuals outside of Compaq. If other individuals are interested in receiving the reports provided herein, please contact Elizabeth Davis in Compaq's Investor Relations Department at elizabeth.davis@compaq.com. Elizabeth Davis Compaq - Investor Relations Research Analyst 281-518-4289 - 12.12.00 Analyst Reports.doc