Rick:

Just want to provide a summary of our discussion on Wednesday, 4/19/2000 
regarding the analyst program and the conclusions reached.

Discussion item #1:  Similarities and differences between the commercial and 
commercial services analyst position.  Concluded that the only difference 
between the two analyst profiles is the difference in merit and bonus 
compensation.  Both have the opportunity to rotate across commercial and 
commercial services areas, return to business school after two years, stay 
and be promoted either to a commercial services professional position or take 
a commercial route and ultimately be promoted to associate.

Agreed:  There is one analyst program and we will immediately eliminate the 
compensation differences.  All analysts will receive the same 5K yearly merit 
increase and be eligible for the commercial bonus range.

Discussion item #2:  Morale of analysts in program.  Due largely to 
compensation differences making the program feel as though it is still two 
separate programs.  Commercial services needs more attention and focus.  Need 
someone of a Celeste Roberts calibre to focus on the staffing piece.

Agreed:  Eliminating the compensation differences will help boost morale.  
Additionally, there needs to be more focus and attention paid to the career 
development of analysts.  

Discussion item #3:  UT Spring recruiting.  Did not feel there were enough 
events and concerned that executive leads were not asked to participate.

Agreed:  Celeste Roberts will follow-up with George Hope and Shelly Jones to 
confirm number of events and whether dates were booked on executive lead's 
calendars.  Bottom line, we want to ensure that presence on campus is not 
minimized.

Discussion item #4:  Off-line discussion with Sally Beck regarding the 
Performance Review Process and whether all analysts would be reviewed as one 
pool

Agreed:   Per Sally Beck it was agreed that all analysts would be reviewed 
together.  We will not separate commercial from commercial services but will 
put all analysts on the table and review as one analyst pool.

 Please let me know if there are additional items that need to be captured.

Regards,
Celeste Roberts