Icahn Issues Comment on Deal with Dell

Carl C. Icahn today announced that he and his affiliates have entered into an agreement with Dell Inc. DELL that will facilitate discussions among Dell shareholders free of the legal restrictions under Delaware law. Mr. Icahn noted:  "Like other large Dell shareholders, I continue to believe that the February 5 merger agreement to take Dell private undervalues Dell and hurts shareholders.  My affiliates and I expect to engage in meaningful discussions with other Dell shareholders, discussions that we believe will help to facilitate alternatives to the existing transaction with Michael Dell.  In addition, I want to make it very clear that I have retained the absolute right to conduct a proxy fight at Dell.  In fact, I have refused to take a $25 million expense reimbursement from Dell as the price of giving up a proxy fight.  Dell shareholders are entitled to a free exchange of ideas as they make this important decision and that includes the right of shareholders to evaluate all alternatives.  We look forward to speaking with Dell shareholders in the days and weeks ahead."
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