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February 11, 1999

SYBASE CEO WON’T SELL THE COMPANY WHILE IT’S DOWN

By CBR Staff Writer

Sybase Inc CEO John Chen told investors yesterday that he isn’t looking to sell the database firm – at least until it regains a higher market value. Speaking at the Goldman Sachs Technology Symposium in New York, Chen told the audience that he didn’t believe the true value of the business was reflected in its current market valuation. If I ever sell the company…I’m going to build a valuable business first. Shares rose 91 cents following the comments, but current stock prices still give Sybase a market value of only $745m. Chen predicted that the company would continue to see high-digit single figure operating margins during 1999 and would remain profitable, despite an anticipated industry slowdown in the second half of the year.

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