Dell Special Committee Responds to Icahn's Latest Proposal

The Special Committee of the Board of Dell Inc.

issued the following statement in response to a letter to shareholders released today by Carl Icahn: “We are today reviewing the fifth proposal from Carl Icahn, which would include issuance of warrants in connection with the self-tender proposal he previously outlined. We are working with our advisors to evaluate whatever benefits might flow to shareholders from the warrant he has proposed to include in his structure. We would note that a portion of any value attributed to the warrants would be offset by a reduction in the value of the recipients' stub equity, as well as the fact that receipt of the warrant would likely be a taxable event.