Lesson #5 Dell & Microsoft Midyear Market Review June 25, 1997 Lesson #5: Sometimes Things Change Over time, investors can change the way they value a company. Sometimes Things Change, By Randy Befumo Dell Q4 '97 03/04/97 Dell Daily Double 04/17/97 Dell News 04/21/97 Dell News 05/21/97 Dell Q1 '98 05/21/97 Dell News 05/23/97 Dell Snapshot 05/30/97 Dell News 06/21/97 MSFT Call 01/16/97 MSFT Rogue 03/31/97 MSFT Q3 '97 04/24/97 Discuss Microsoft Discuss Dell On to LESSON 6 _________________________

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