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,
Cassell

 <<holdings for confirmation.xls>>


Cassell Bryan-Low
Wall Street Journal
Tel: 212 274 7953
Fax: 212 274 7929
Email: cassell.bryan-low@wsj.com


 - holdings for confirmation.xls