in re: mercury interactive corporation securities...

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Kirk A. Dublin (State Bar No . 200676)John D. Cline (State Bar No. 237759)Adam R. Sand (State Bar No. 217712)JONES DAY555 California Street, 26th FloorSan Francisco, CA 94104-1500Telephone : (415) 626-3939Facsimile: (415) 875-5700E-mail: [email protected]

jcline@jonesday [email protected]

Andrew T . Solomon (Admitted Pro Hac Vice)Franklin B . Velie (Admitted Pro Hac Vice)

SULLIVAN & WORCESTER LL P

1290 Avenue of the AmericasNew York, NY 10104Telephone : (212) 660-3000Facsimile: (212) 660-300 1E-mail : [email protected]

[email protected]

Attorneys for DefendantAMNON LANDAN

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNI A

SAN JOSE DIVISION

IN RE MERCURY INTERACTIVE CORPSECURITIES LITIGATION ;

This Document Relates To :

Civil Action No . : 5 :05-CV-3395-JF (PVT)

(Consolidated with 3 :05-ev-3864; 3 :05-cv-4031 ; and 3 :05-cv-4036)

CLASS ACTION

ALL ACTIONSDECLARATION OF ADAM SAND INSUPPORT OF DEFENDANT AMNONLANDAN'S MOTION TO DISMISS THECONSOLIDATED CLASS ACTIONCOMPLAINT

Hearing Date : March 30, 2007

Time: 9:00 a .m .

The Honorable Jeremy Foge l

DECLARATION OF A . SANDCASE NO . 5-05-CV-3395-JF (PVT)

{N0072638 ; 2

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I, ADAM R. SAND, declare as follows :

1 . I am an attorney with the law firm of Jones Day, located at 555 California Street, 26'x'

Floor, San Francisco, California 94104, and a member in good standing of the California State

Bar. I am counsel for defendant Amnon Landan in the above-captioned action . I have personal

knowledge of the matters stated in this declaration and would testify to them, if required .

2. I respectfully submit this declaration in support of defendant Amnon Landon's

Motion to Dismiss the Consolidated Amended Class Action Complaint .

3 . Attached as Exhibit 1 is a true and correct excerpt from Mercury Interactive

Corporation's Form 10-K for the fiscal year ending December 31, 1997 .

4 . Attached as Exhibit 2 is a graph that accurately plots the percentage returns of

Mercury Interactive Corporation's stock and the NASDAQ Index from February 1997 to

November 2005 . The data used in this graph was obtained from FactSet Research Systems, Inc .

5 . Attached as Exhibit 3 is a chart accurately listing the daily closing price of Mercury

Interactive Corporation's stock between January 2, 1997 to July 27, 2006 . The price data in this

chart was obtained from FactSet Research Systems, Inc .

6 . Attached as Exhibit 4 is a true and correct copy of the press release issued by

Mercury Interactive Corporation on October 17, 2000 .


Mercury Interactive Corporation on January 17, 2001 .

8. Attached as Exhibit 6 is a true and correct copy of the press release issued by

Mercury Interactive Corporation on April 11, 2001 .

9. Attached as Exhibit 7 is a true and correct copy of the press release issued by

Mercury Interactive Corporation on July 18, 2001 .

DECLARATION OF ADAM SAND2 CASE NO. 5-05-CV-3395-JF (PVT )

{N0072638;2

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10. Attached as Exhibit 8 is a true and correct copy of the press release issued b y


11 . Attached as Exhibit 9 is a true and correct copy of the press release issued b y




















2 1 . Attached as Exhibit 19 is a true and correct copy of the press release issued by


DECLARATION OF ADAM SAND3 CASE NO. 5-05-CV-3395-JF (PVT)

{N0072638;2 ;

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Mercury Interactive Corporation on February 2, 2005 .








Mercury Interactive Corporation on August 29, 2005 .




Mercury Interactive Corporation on November 2, 2005 .



DECLARATION OF ADAM SAND4 CASE NO. 5-05-CV-3395-JF (PVT )

IN0072638 ; 2 ;

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35 . Attached as Exhibit 33 is a true and correct copy of excerpts of Amnon Landan' s

quotations cited in the Complaint, which were excerpted from Mercury Interactive Corp .'s press

releases, all of which are factually accurate .

I declare under penalty of perjury that the foregoing is true and correct and that this

declaration is executed at San Francisco, CA, on November 17, 2006 .

Dated : November 17, 2006 Respectfully submitted,

By: /s/Adam R. Sand

Atto rney for DefendantAMNON LANDAN

DECLARATION OF ADAM SAND5 CASE NO. 5-05-CV-3395-JF (PVT)

{N0072638 ; 2;

Adam Sand DQclaratio nEx hibit 1

UNITED STATE SSECURITIES AND EXCHANG E

COMMISSIONWASHINGTON, D .C . 2054 9

FORM 10-K

[XIANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIESEXCHANGE ACT OF 193 4

FOR THE FISCAL YEAR ENDED DECEMBER 31, 199 7

OR

[_ITRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIESEXCHANGE ACT OF 193 4

COMMISSION FILE NUMBER 0-2235 0

MERCURY INTERACTIVE CORPORATIO N(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

DELAWARE 77-0337705

(STATE OR OTHER JURISDICTION OF (I .R .S . EMPLOYER

INCORPORATION OR ORGANIZATION) IDENTIFICATION NO . )

1325 BORREGAS AVENUE, SUNNYVALE , CA 94089(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)

(408) 822-5200(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE )

Securities registered pursuant to Section 12(g) of the Act : Common Stock,$0 .002 par valu e

Indicate by check mark whether the registrant ( 1) has filed all reports required to he filed by Section 13 or 15(d) of theSecurities exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required tofile such reports), and (2 ) had been subject to such filing requirements for the past 90 days . Yes [X] No [ ]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, andwill not be contained, to the best of Registrant's knowledge, in definitive proxy or information statements incorporated byreference in Part III of this Form 10-K or any amendment to this Form 10-K . [_

The aggregate market value of the voting stock held by non-affiliates of the Registrant was approximately $628,580,936 as ofFebruary 28, 1998, based upon the closing sale price reported for that date on the Nasdaq National Market. Shares ofCommon Stock held by each officer and director and by each person who owns 5% or more of the outstanding CommonStock have been excluded because such persons may be deemed to be affiliates . This determination of affiliate status is notnecessarily conclusive for other purposes .

The number of shares of Registrant's Common Stock outstanding as of February 28, 1998 was 17,149,887 .

DOCUMENTS INCORPORATED BY REFERENC E

Portions of the Proxy Statement for Registrant's 1998 Annual Meeting of Stockholders to be held May 20, 1998 areincorporated by r( rence in Part III of this Form 10-K Report .

TABLE OF CONTENTS

PAGE

PART I

Item 1 . Pisiness . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

t neral . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

sa and Developmentt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

M reting, Sales and Support . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

etition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

Manufacturing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

Patents, Trademarks and Licenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

Personnel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

Operations in Israel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 0

Item 2 . Properties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 0

Item 3 . Legal Proceedings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 0

Item 9 . Submission of Matters Lo a Vote of Security Holders . . . . . . . . . . . . 1 0

PART I I

Market for the Registrant's Common Equity and Related 11 .

Item 5 . Stockholder Matters . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Item 6 . Selected Consolidated Financial Data . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

Management's Discussion and Analysis of Financial Condition and 12

Item 7 . Results of Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Item 8 . Financial Statements and Supplementary Data . . . . . . . . . . . . . . . . . . . . 20

Changes in and Disagreements with Accountants on Accounting and 20

Item 9 . Financial Disclosure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART III

Item 10 . Directors and Executive Officers of the Registrant . . . . . . . . . . . . . 21

Item 11 . Executive Compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21

Item 12 . Security Ownership of Certain Beneficial Owners and Management . 21

Item 13 . Certain Relationships and Related Transactions . . . . . . . . . . . . . . . . . 2 1

PART IV

Exhibits, Financial Statement Schedules and Reports on Form 8- 22

Item 14 . K . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2

PART I

ITEM 1 . BUSINESS

GENERAL

Mercury Interactive Corporation and its subsidiaries (hereafter, collectively, "Mercury Interactive" or the "Company")develop, market and support a family of automated client/server and Web-based system (Internet and intranet) tools fortesting business-critical enterprise applications . Since 1989, the Company's testing solutions have helped corporatedevelopment organizations, systems integrators and independent software developers identify client/server system problemswith greater accuracy, speed and efficiency than traditional methods allow .

The power, speed and flexibility of distributed computing architectures with PCs running Microsoft Windows, UNIXworkstations, network servers, database servers and Web-based systems have prompted many companies to adopt them on anenterprise-wide basis to support business-critical applications . Client/server solutions are designed to be scalable toaccommodate rapid growth, in order to allow customers to boost productivity by enhancing information availability and toprovide the customer a competitive advantage . However, the very nature of client/server computing creates challenges forbusinesses that deploy mission-critical applications . As enterprise systems are installed to accommodate traditional businessneeds, even the simplest application or system changes can adversely impact the delivery and performance of the solution .Thorough testing of critical applications in enterprise-wide, multi- user environments is required so that the solution isreliable and responsive to user needs .

Mercury Interactive is committed to continuing research and development in order to achieve its strategy of offeringadvanced and innovative testing solutions for evolving business needs . The Company's innovative solutions are designed toautomate and orchestrate all phases of software and system quality assurance, and to provide a common thread that allowscustomers to reduce application development time, increase productivity and decrease operating expenses .

Today, that common thread makes its way through some of the world's largest business organizations . Allstate Insurance,Citibank, DHL Airways, Gap, Inc ., Michelin, Nabisco, and Quebec Hydro among others, all rely on the Company's solutionsfor testing their client/server applications and systems .

PRODUCTS

The Company's current testing products are presented in the table below, and described immediately following .

TYPICAL LIST

PRODUCT NAME PRODUCT DESCRIPTION STATUS PRICE RANGE*------------- ---------------- --- ------------------------

XRunner Automated application Release 1 .0-1991 $60,000 for five users

testing for UNIX, X- Release 4 .0-July 199 6

WinRunner

LoadRunner

Teat Director

SQL Inspector

WebTest

Astra SiteManager

Astra SiteTest

Windows

Automated application Release 1 .0-June 1993

testing for Windows, Release 4 .0-March 1996

Windows NT, Windows 9 5

Automated multi-user Release 1 .0-November

testing for UNIX, RTE, 199 3

Windows, Windows NT and Release 4 .5-May 1997

Windows 9 5

Automated test Release 1 .0-November

management 1994

system for QA workgroups Release 4 .0-June 199'7

Middleware testing and Release 2 .0-May 1995

analysis for Windows Integrated int o

LoadRunner

4 .5-May 1997

World Wide Web Product family released

application March 199 6

testing

$2,850-$5,000 per use r

$4'1 0,000-$50,000 for

package simulating 50

users

$8,995 for server plus 5

users, additional users

for $495 eac h

$495-$895 per use r

$195-$995 per cop y

Visual Web site Release 1 .0-October 1996 $495 per copy

management tool

Web site stress testing Release 1 .0-December $9,500 per copy

199 6

Release 2 .0-December

1.99 7

* Prices vary within the ranges shown according to system configuration and country where purchased.

XRunner

The Company's Xrunner(R) is an automated GUI regression tool which tests X- Windows applications running under UNIX .XRunner makes test development easier by incorporating simplified test script management, point-and-click selection and

interactive debugging . These features boost new testers' productivity while providing a complete testing solution for evolvingbusiness needs . XRunner features the RapidTest Script Wizard which automatically learns an application and generates testsfor unattended regresssion testing . XRunner was originally released in 1991 .

WinRunner

The Company's WinRunner(R) tests enterprise applications on Windows 3 .1, Windows 95, and Windows NT platforms .WinRunner simplifies test automation by providing powerful, productive and cost effective test solutions . WinRunner utilizesMercury Interactive's point-and-click Visual Testing to help users quickly create test and verification scenarios . WinRunnerprovides support for leading development environments such as SAP, PeopleSoft, Baan, Oracle Developer/2000, MicrosoftVisual Basic and PowerBuilder . WinRunner 2000 is specifically designed to test applications for compliance with Year 2000requirements . WinRunner was made generally available in 1993 .

4

LoadRuoner

The Company's LoadRunner(R) is an integrated client/server and Web load testing tool . It provides a scalable load testingsolution for managing the risk of enterprise systems . LoadRunner uses a minimum of hardware resources to provideconsistent, repeatable and measurable load to exercise the system just like real users would . LoadRunner automates bothclient and server load testing from a single point of control while helping developers get an accurate view of system behaviorand performance throughout the application develpoment lifecycle . LoadRunner is available for Windows, Window 95,Windows NT, UNIX and Remote Terminal Emulation (RTE) . LoadRunner was made generally available in 1993 .

TestDirector

The Company's TestDirector(R) is a workgroup test management software which directs the quality assurance process forsoftware development. TestDirector helps developers and testers to be more productive by walking them through a fullregression test cycle from planning and design, automated test creation, manual and automatic test execution, defect trackingand application quality analysis . TestDirector was first released in November 1994 .

SQLlnspecto r

The Company's SQLlnspector(TM) is a powerful, simple tool for viewing application function calls to databases .SQLlnspector includes performance data so that developers can analyze their application's database access, and betterunderstand how to tune the application . SQLlnspector 2 .0 was integrated into Mercury Interactive's product family when theCompany acquired Blue Lagoon Software in 1995 . SQLlnspector's technology was integrated into LoadRunner in 1997 .SQLlnspector will not be sold separately in the future .

WebTest

The Company's WebTest(R) is the first technology designed specifically for testing World Wide Web applications . The newtechnology helps information systems organizations improve the quality and reliability of Web-based systems by allowingdevelopers to measure response time to a browser request, to determine the maximum number of hits the server can support,and to validate the systems' ability to function correctly under varying conditions . WebTest extends Mercury Interactive'sGUI testing tools, WinRunner and XRunner, allowing them to interact with Web pages, browsers, HTML links and images .WebTest, together with LoadRunner, tests Web site performance and capacity by emulating Web user HTTP or securesockets layer (SSL) encrypted traffic between the browser and server . WebTest was released in March 1996 .

Astra SiteManage r

The Company's Astra SiteManager(TM) is a comprehensive visual Web site management tool that is designed to meet thechallenges faced by Webmasters and business managers of rapidly growing Web sites with changing contents and shape .Astra SiteManager scans an entire Web site highlighting functional areas with color-coded links and URLs--to create acomplete visual map of a Web site . It pinpoints broken links or access problems, compares maps as a site changes, identifieskey usage patterns for improving Web site effectiveness and validates dynamically generated pages . Astra SiteManager wasreleased in October 1996 .

Astra SiteTes t

The Company's Astra SiteTest(TM) is a stress testing tool for Web-based systems-Internet and intranet-that providesconsistent, repeatable and measurable load to exercise the systems as real users would . Astra SiteTest helps Webmasters getan accurate view of system behavior and performance throughout the application development lifecycle . Astra SiteTest wasfirst relased in December 1996 .

RESEARCH AND DEVELOPMENT

Since its inception, the Company has made substantial investments in research and product development . The Companybelieves that its success will depend in large part on its ability to maintain and enhance its current product line, develop newproducts, maintain technological competitiveness and meet an expanding range of customer requirements, each of which isessential to maintaining the Company's current leadership position in its market .

The technologies that drive the Company's products are aimed at providing a consistent and comprehensive solution tosoftware quality issues throughout the software development organization . By enabling reliable automation of testing, thesetechnologies enable the Company's products to provide substantial productivity improvement.

The Company believes that it was the first to comprehensively address client/server software quality by combining keyenabling technologies such as output synchronization, GUI-based application testing, multi -platform portability, textrecognition and multi-user testing . Mercury Interactive's products are designed to be used throughout the development,maintenance and porting processes and are available on a variety of computing platforms and operating environments .

In addition to the teams developing software testing products, the Company maintains an advanced research group that isresponsible for exploring new directions and applications of core technologies, migrating new technologies into the existingproduct lines and maintaining research relationships outside the Company both within industry and academia . The researchand development group also maintains relationships with third party software vendors and with all major hardware vendorson whose platforms the Company's products operate . Key development engineers are rotated to assignments in customersupport positions in the Company's major markets for periods ranging from three months to two years . This improvesfeedback from current customers and strengthens ties between the Customer Support Organization and the research anddevelopment group .

The Company's primary research and development group is located near Tel Aviv, Israel . Performing research anddevelopment in Israel offers a number of strategic advantages . Israeli engineers typically hold advanced degrees in computer-related disciplines . Operation in Israel allows the Company to enjoy research subsidies from the government of Israel .Geographic proximity to Europe, a strategic market for the Company, offers another key advantage .

As of December 31, 1997 the Company's research and development group consisted of 147 employees . During 1997, 1996and 1995 net research and development costs were $10 .9 million, $9 .4 million and $6 .5 million, respectively . The Companyanticipates that it will continue to commit substantial resources to research and development in the future . See"Management's Discussion and Analysis of Financial Condition and Results of Operations . "

MARKETING, SALES AND SUPPORT

Direct Sales

The Company markets its products primarily through its direct sales and service organization, which focuses on majoraccounts . The Company employs technically proficient salespeople and highly skilled field application engineers capable ofserving the sophisticated needs of prospective customers' engineering and management staffs . As of December 31, 1997, theCompany's direct sales and service force consisted of 152 employees .

The Company has 13 sales and support centers throughout the United States . Internationally, the Company's subsidiariesoperate eight sales and support offices located in Canada, the United Kingdom, France, Germany, Japan, Australia, Singaporeand Israel . The Company also markets its products through distributors in Europe and Pacific Rim countries .

International sales represented 36%, 33% and 24% of the Company's total revenues in 1997, 1996 and 1995, respectively .The Company expects that in future periods, international sales will continue to account for a significant portion of theCompany's total revenue . See "Management's Discussion and Analysis of Financial Condition and Results of Operations . "

Alternate Channels

The Company has established an indirect sales channel of value added resellers and major system integrators, includingAndersen Consulting, Deloitte & Touche, EDS, Ernst & Young, Keane and KPMG . The indirect sales channel accounted for47%, 43% and 23% of total license revenue in the years ended December 31, 1997, 1996 and 1995, respectively . TheCompany believes that the indirect sales channel will continue to account for a significant portion of the Company's totalrevenue in future periods . There is no assurance that the Company will be successful in further developing such channels,that such relationships will result in significant additional sales or that any sales through such channels will have the sameprofitability, if any, of sales obtained through the Company's direct sales force . In addition, the Company expects its directand indirect sales channels to compete with each other . Successful indirect sales efforts depend on the abilities, resources,reputations, motivations, and strategies of third parties, and the Company has little control over such factors . If theCompany's efforts at further developing these indirect sales channels are unsuccessful, if such channels are unproductive or ifthe Company were to lose one or more of its value added resellers or major system integrators there could be a materialadverse effect on the Company's results of operations or financial position .

Customer Support Organizatio n

The Company believes that strong customer support is crucial to both the initial marketing of its products and maintenance ofcustomer satisfaction, which in turn, enhances the Company's reputation and generates repeat orders . In addition, theCompany believes that the customer interaction and feedback involved in its ongoing support functions provide the Companywith information on market trends and customer requirements that is critical to future product development efforts .

Pre-sales support is provided by sales personnel and post-sales support is provided by the Company's Customer SupportOrganization ("CSO") pursuant to renewable annual maintenance contracts . As of December 31, 1997, the Company's CSOconsisted of 61 employees . The maintenance contracts provide for technical and emergency support as well as softwareupgrades, on an if and when available basis . When the Company's local sales and support offices are unable to solve aproblem, the Company's engineers and product developers in Israel work with the support personnel . By taking advantage oftime differences, the Company can provide support around the clock, ensuring prompt resolution of problems .

Pricin g

The Company licenses its software to customers under non-exclusive license agreements that restrict use of the products tointernal purposes at a specified site . The Company typically licenses software products to either allow up to a set number ofusers to access the software on a network at any one time, using any workstation attached to that network, or to allow use ofthe software on designated computers or workstations .

The Company's products are priced to encourage customers to purchase multiple products and licenses because the cost to theCompany of supporting a one-user configuration is almost as high as a multiple-user configuration . License fees aredependent on the product licensed, the number of users of the product licensed and the country in which such licenses aresold, as international prices tend to be higher than United States prices . In addition, the Company sells annual maintenancecontracts which include on-site customer support and upgrades for approximately 15% of the license purchase price . Sales tothe Company's indirect sales channel partners which are intended for resale to end users are made at varying discounts off ofthe Company's list prices, generally based on the sales volume of the indirect sales channel partner .

Backlo g

The time between order and delivery of the Company's products is generally quite short . The number of orders, as well as thesize of individual orders, can vary substantially from month to month . Because of the short period between order receipt andshipment of products, the Company typically does not have a significant backlog of unfilled orders and believes that backlogis neither significant to an understanding of its business nor representative of potential revenue for any future period .

COMPETITION

While the Company believes it is the leading provider of automated client/server, E-business and Enterprise ResourcePlanning ("ERP", such as the packaged applications offered by SAP and Baan) testing tools, several other companiescompete in the automated client/server testing market and several potential customers have decided to develop testing utilitie sinternally. The market for automated client/server, E-business and ERP testing tools is relatively young and competingsolutions for the problem of software testing productivity are evolving rapidly .

The market for software products, in general, is highly competitive . The Company continues to face direct competition fromestablished and emerging companies, both publicly and privately-held . In the past year, a number of the Company'scompetitors have been consolidated through acquisitions and may have significantly greater resources than the Company .There could be a material adverse effect on the Company's results of operations or financial position if any of the majorsoftware manufacturers, which have significantly greater resources than the Company decide to devote substantial resourcesto entering the software testing market or if there is an increase in developing testing utilities internally by the Company'scustomers or potential customers . A variety of external and internal factors could adversely affect the Company's ability tocompete . These include the relative functionality, price/performance and reliability of the products offered by the Companyand its competitors, the timing and success of new product development or enhancement efforts of the Company and itscompetitors and the effectiveness of the marketing efforts of the Company and its competitors . There can be no assurancethat the Company will be able to compete successfully in the future or that competitive pressures will not adversely affect theCompany's business .

MANUFACTURING

The Company's products are principally composed of user manuals and storage media, such as diskettes tapes, and/or CD-ROM, which are produced by the Company in its facility in Israel . Often, the Company's products require multiple usermanuals and magnetic media . The Company believes that there is an adequate supply of and source for the raw materials forits products and that there are multiple sources available for storage media duplication and manual printing . The Companyperforms final quality control tests on its products . Although the Company believes that its quality control activitieseffectively accomplish the Company's product quality goals, there can be no assurance that the Company's quality controlefforts will always be completely successful . Undetected material programming errors, product tampering, and exposure to acomputer virus in the product development, duplication, assembly or distribution process, whether performed by theCompany, its contractors, distributors, or resellers, could have a material adverse effect on shipments of new and existingproducts . Assembly and packaging of final products are performed both by the Company and by domestic and overseassubcontractors of the Company .

PATENTS, TRADEMARKS AND LICENSE S

The Company currently relies upon a combination of trademark, copyright, and trade secret laws and contractual provisionsto establish and protect proprietary rights in its products . The source code for the Company's products is protected both as atrade secret and as an unpublished copyrighted work . Despite these precautions, it may be possible for a third party to copy orotherwise obtain and use the Company's products or technology without authorization, or to develop similar technologyindependently . In addition, effective copyright and trade secret protection may be unavailable or limited in certain foreigncountries .

Because the software industry is characterized by rapid technological change, the Company believes that factors such as thetechnological and creative skills of its personnel, new product developments, frequent product enhancements, namerecognition and reliable product maintenance are more important to establishing and maintaining a technology leadershipposition than the various legal protections of its technology .

The Company presently has no registered copyrights . The Company holds three patents for elements contained in certain ofits products, and it has filed several other U .S . and foreign patent applications on various elements of its products . There canbe no assurance that any of the Company's patent applications will result in an issued patent or that, if issued, such patentwould be upheld if challenged . There can be no assurance that the Company's competitors will not independently developtechnologies that are substantially equivalent or superior to the Company's technology .

Although the Company believes that its products and other proprietary rights do not infringe the proprietary rights of thirdparties, and although the Company has received no communications from third parties alleging the infringement of theproprietary rights of such parties, there can be no assurance that intellectual property infringement claims will not be assertedagainst the Company in the future or that any such claims will not require the Company to enter into royalty or cross-licensearrangements or result in costly litigation .

PERSONNEL

As of December 31, 1997, the Company had a total of 437 employees, of which 185 were based in the United States and 252were based internationally . Of the total, 240 were engaged in marketing, sales and related customer support services, 147were in research and development, and 50 were in general and administrative functions . The Company's success depends insignificant part upon the performance of its senior management and certain key employees and its continuing ability to attractand retain highly qualified sales, technical and managerial personnel . Competition for such personnel is intense and there canbe no assurance that the Company can retain its key managerial and technical employees or that it can attract, assimilate orretain other highly qualified technical and managerial personnel in the future . None of the Company's employees arerepresented by a labor union . The Company has never experienced any work stoppages .

The executive officers of the Company as of March 1, 1998, are as follows :

NAME

----

AGE---

POSITION

Aryeh Fineyold . . . . . . . . . . . . . . 51 Chairman of the ------- -Board of Director s

Amnon Landan . . . . . . . . . . . . . . . . 39 President, Chief Executive Officer an d

Director

Sharlene Abrams . . . . . . . . . . . . . 40 Vice President of Finance and

Administration, Chief Financial Officer and

Secretar y

Kenneth K . Klein . . . . . . . . . . . . 38 Vice President of North American SalesMoshe Egert. . . . . . . . . . . . . . . . . . 33 Vice President of European Operation s

Mr. Aryeh Finegold, a founder of the Company, has served as Chairman of the Board of Directors since the Company'sincorporation in July 1989, served as Chief Executive Officer from July 1989 until January 1997 and served as Presidentfrom July 1989 until October 1995 . Previously, Mr . Finegold was President, Chief Executive Officer and Chairman of theBoard of Directors of Ready Systems, Inc . He also co-founded Daisy Systems, Inc ., serving as its President and ChiefExecutive Officer . Previously, Mr. Finegold was a product line architect in the micro-processor division at Intel Corporation .

Mr. Amnon Landan has served as President and Chief Executive Officer of the Company since February 1997, and has beena director of the Company since February 1996. From October 1995 to January 1997 he served as President, and from March1995 to September 1995 he served as President of North American Operations . He served as Chief Operating Officer fromAugust 1993 until March 1995 . From December 1992 to August 1993, he served as the Company's Vice President o fOperations and from June 1991 to December 1992, he served as Vice President of Research and Development . FromNovember 1989 to June 1991, he served in several technical positions with the Company .

Adam Sand DeclarationExhibit 2

Mercury Interactive Daily Closing Price vs. NASDAQ

180

160

140

120

100

0

80

60

40

20

0

01/28/97 01/28/98

Source : Factset and Factiva .

November 1, 2005 , last day of

Landau's tenure . Price :February 12, 1997,NASDAQ $35.00 ;Index Value: 1,359 Cumulative return since

February 12, 1997 : February 12, 1997 : 882%

Amnon Landau become sCEO of Mercury

November 1, 2005 , NASDAQIndex Value: 2,114 ; July 25, 2006 :Interactive .

Price : $3.56 Cumulative return since Mercury is

February 12, 1997: 56% acquired by HP.

q xp { ~ ~

01/28/99 01/28/00 01/28/01 01/28/02 01/28/03 01/28/04 01/28/05 01/28/06

50,000

45,00 0

40,000

35,000

30,000

25,000 <

20,000

15,000

10,00 0

5,000

0

n/eir/a Page I of I

Closing Price and Cumulative ReturnFebruary 1, 1997 - July 25, 2006

CumulativeClosing Price Closing Price Return As of

Date ( Unadjusted ) (Adjusted) February 12, 199 7(1) (2) (3 )

February 3, 1997 $ 12.75 $ 3.19 N/AFebruary 12, 1997 14 . 25 3 .56 0 .00 %March 31, 1997 9 .75 2 .44 (31 .58 )September 30, 1997 19 .13 4 .78 34 .2 1December 31, 1997 26 .75 6 .69 87 .7 2March 31, 1998 36.50 9 .13 156 .1 4September 30, 1998 39.69 9 .92 178 .5 1December 31, 1998 63 .25 15 .81 343 .8 6March 31, 1999 35 .63 17 .81 400 .0 0September 30, 1999 64 .56 32 .28 806 .1 4December 31, 1999 107 .94 53 .97 1,414 .9 1March 31, 2000 79 .25 79 .25 2,124 .5 6September 29, 2000 156 .75 156 .75 4,300 .0 0December 29, 2000 90 .25 90 .25 2,433 .3 3March 30, 2001 41 .88 41 .88 1,075 .44September 28, 2001 19 .04 19 .04 434 .46December 31, 2001 33 .98 33 .98 853 .8 2March 28, 2002 37 .65 37 .65 956 .8 4September 30, 2002 17 .16 17 .16 381 .6 8December 31, 2002 29 .65 29 .65 732 .2 8March 31, 2003 29 .68 29 .68 733 .1 2September 30, 2003 45.60 45 .60 1,180 .0 0December 31, 2003 48.64 48 .64 1,265 .3 3March 31, 2004 44.80 44 .80 1,157 .5 4September 30, 2004 34 .88 34 .88 879 .0 9December 31, 2004 45 .55 45 .55 1,178 .6 0March 31, 2005 47 .38 47 .38 1,229 .9 6September 30, 2005 39 .60 39 .60 1,011 .5 8November 1, 2005 35.00 35 .00 882 .4 6December 30, 2005 27 .79 27 .79 680 .0 7March 31, 2006 34 .80 34 .80 876 .8 4July 25, 2006 39 .00 39 .00 994 .7 4

Notes and Sources :Data from Factset.

1 Adjusted for spinoffs and stock splits .

n/e/r/a Page I of I

Mercury Daily Closing PriceJanuary 2, 1997 - July 27, 2006

Closing Price

DateNot

Split-Adjusted Split-Adjusted(1) (2)

1/2/1997 $ 3 .31 S 13 .2 51/3/1997 3 .44 13 .7 51/6/1997 3 .50 14 .0 01/7/1997 3 .41 13 .6 31/8/1997 3 .41 13 .6 31/9/1997 3 .47 13 .8 8

1/10/1997 3 .50 14 .0 01/13/1997 3 .56 14 .2 51/14/1997 3 .31 13 .2 51/15/1997 3 .31 13 .2 51/16/1997 3 .22 12 .8 81/17/1997 3 .22 12 .8 81/20/1997 3 .38 13 .5 01/21/1997 3 .41 13 .6 31/22/1997 3 .38 13 .5 01/23/1997 2 .94 11 .7 51/24/1997 3 .03 12 .1 31/27/1997 3 .06 12 .2 51/28/1997 3 .16 12 .6 31/29/1997 3 .19 12 .7 51/30/1997 3 .13 12 .5 01/31/1997 3 .13 12 .5 02/3/1997 3 .19 12 .7 52/4/1997 3 .31 13 .2 52/5/1997 3 .55 14 .1 92/6/1997 3 .50 14 .0 02/7/1997 3 .53 14 .1 3

2/10/1997 3 .69 14 .7 52/11/1997 3 .63 14 .502/12/1997 3 .56 14 .2 52/13/1997 3 .63 14 .502/14/1997 3 .69 14 .7 52/18/1997 3 .66 14 .6 32/19/1997 3 .69 14 .7 52/20/1997 3 .59 14 .3 82/21/1997 3 .63 14 .5 02/24/1997 3 .63 14 .5 02/25/1997 3 .64 14 .5 62/26/1997 3 .56 14 .2 52/27/1997 3 .59 14 .3 82/28/1997 3 .25 13 .0 03/3/1997 3 .41 13 .6 33/4/1997 3 .38 13 .5 03/5/1997 3 .38 13 .503/6/1997 3 .31 13 .253/7/1997 3 .22 12 .8 8

3/10/1997 3 .16 12 .633/11/1997 3 .16 12 .6 33/12/1997 3 .25 13 .0 03/13/1997 3 .22 12 .8 83/14/1997 3 .09 12 .3 83/17/1997 2 .94 11 .7 53/18/1997 2 .91 11 .6 3

n/e/r/a Page I of 46

Mercury Daily Closing Price

January 2, 1997 - July 27, 200 6

Date

Closing Price

NotSplit-Adjusted Split-Adjusted

(1) (2)

3/19/1997 8 2 .63 $ 10.5 03/20/1997 2 .69 10 .7 53/21/1997 2 .75 11 .0 03/24/1997 2 .78 11 .1 33/25/1997 2 .84 11 .3 83/26/1997 2 .88 11 .5 03/27/1997 2 .69 10 .7 53/31/1997 2 .44 9 .7 5

4/1/1997 2 .66 10 .6 34/2/1997 2 .72 10 .8 84/3/1997 2 .73 10 .944/4/1997 3 .00 12 .004/7/1997 3 .19 12 .7 54/8/1997 3 .31 13 .2 54/9/1997 3 .25 13 .00

4/10/1997 2 .88 11 .504/11/1997 2 .58 10 .3 14/14/1997 2 .97 11 .8 84/15/1997 3 .09 12 .3 84/16/1997 2 .97 11 .8 84/17/1997 3 .03 12 .1 34/18/1997 2 .97 11 .8 84/21/1997 2 .81 11 .2 54/22/1997 2 .63 10 .5 04/23/1997 2 .67 10 .6 94/24/1997 2 .97 11 .8 84/25/1997 2 .78 11 .1 34/28/1997 2 .78 11 .1 34/29/1997 2 .81 11 .2 54/30/1997 3 .06 12 .2 5

5/1/1997 2 .97 11 .8 85/2/1997 3 .03 12 .1 35/5/1997 3 .31 13 .2 55/6/1997 3 .19 12 .7 55/7/1997 3 .25 13 .0 05/8/1997 3 .63 14 .5 05/9/1997 3 .41 13 .6 3

5/12/1997 3 .34 13 .3 85/13/1997 3 .22 12 .8 85/14/1997 3 .19 12 .7 55/15/1997 3 .19 12 .7 55/16/1997 3 .38 13 .5 05/19/1997 3 .53 14 .1 35/20/1997 3 .38 13 .5 05/21/1997 3 .44 13 .7 55/22/1997 3 .47 13 .8 85/23/1997 3 .69 14 .7 55/27/1997 4 .03 16 .1 35/28/1997 3 .94 15 .7 55/29/1997 4.16 16 .6 35/30/1997 4 .38 17 .5 0

6/2/1997 4 .44 17 .7 56/3/1997 4 .41 17 .6 3

n/e/r/a Page 2 of 46


January 2, 1997 - July 27, 200 6

Closine Price

NotDate Split-Adjusted Split-Adjuste d

(1) (2)

6/4/1997 8 4.22 $ 16.8 86/5/1997 4 .38 17 .5 06/6/1997 4 .25 17 .0 06/9/1997 3 .97 15 .8 8

6/10/1997 3 .94 15 .7 56/11/1997 3 .97 15 .8 86/12/1997 4 .03 16 .1 36/13/1997 4 .00 16 .0 06/16/1997 3 .88 15 .5 06/17/1997 3 .97 15 .8 86/18/1997 3 .72 14 .8 86/19/1997 3 .84 15 .3 86/20/1997 3 .75 15 .006/23/1997 3 .75 15 .006/24/1997 3 .81 15 .256/25/1997 3 .67 14 .696/26/1997 3 .66 14 .636/27/1997 3 .75 15 .006/30/1997 3 .72 14 .8 87/1/1997 3 .56 14 .2 57/2/1997 3 .84 15 .3 87/3/1997 3 .84 15 .3 87/7/1997 4 .03 16 .1 37/8/1997 3 .97 15 .8 87/9/1997 3 .91 15 .6 3

7/10/1997 4 .03 16 .1 37/11/1997 4 .03 16 .1 37/14/1997 3 .94 15 .7 57/15/1997 3 .88 15 .5 07/16/1997 3 .88 15 .5 07/17/1997 3 .89 15 .5 67/18/1997 3 .91 15 .6 37/21 /1997 3 .88 15 .5 07/22/1997 3 .91 15 .6 37/23/1997 3 .81 15 .2 57/24/1997 4 .09 16 .3 87/25/1997 4 .13 16 .507/28/1997 4 .13 16 .507/29/1997 4 .38 17 .507/30/1997 4 .44 17 .7 57/31 /1997 4 .45 17 .8 1

8/1 /1997 4 .03 16 .1 38/4/1997 4 .34 17 .3 88/5/1997 5 .00 20 .0 08/6/1997 4 .75 19 .0 08/7/1997 4 .92 19 .6 98/8/1997 4 .83 19 .3 1

8/11/1997 4 .94 19 .7 58/12/1997 4 .56 18 .2 58/13/1997 4 .75 19 .0 08/14/1997 4 .63 18 .5 08/15/1997 4 .44 17 .7 58/18/1997 4 .48 17 .9 4



January 2, 1997 - July 27, 200 6

Closing Price

NotDate Split-Adjusted Split - Adjusted

(1) (2)

8/19/1997 $ 4 .69 $ 18 .7 58/20/1997 4 .84 19 .3 88/21/1997 4 .72 18 .8 88/22/1997 4 .81 19 .2 58/25/1997 4 .94 19 .7 58/26/1997 4 .97 19 .8 88/27/1997 4 .84 19 .3 88/28/1997 4 .78 19 .1 38/29/1997 4 .81 19 .2 5

9/2/1997 5 .00 20 .0 09/3/1997 5 .06 20 .2 59/4/1997 5 .09 20 .3 89/5/1997 5 .53 22 .1 39/8/1997 5 .44 21 .7 59/9/1997 5 .53 22 .1 3

9/10/1997 5 .41 21 .6 39/11/1997 5 .38 21 .5 09/12/1997 5 .38 21 .5 09/15/1997 5 .06 20 .2 59/16/1997 5 .16 20 .6 39/17/1997 5 .44 21 .7 59/18/1997 5 .50 22 .0 09/19/1997 5 .56 22 .2 59/22/1997 5 .47 21 .8 89/23/1997 5 .56 22 .259/24/1997 5 .63 22 .509/25/1997 5 .97 23 .8 89/26/1997 5 .44 21 .7 59/29/1997 5 .31 21 .2 59/30/1997 4.78 19 .1 310/1/1997 5 .16 20 .6 310/2/1997 5 .09 20 .3 810/3/1997 5 .34 21 .3 810/6/1997 5 .20 20 .8 110/7/1997 5 .22 20 .8 810/8/1997 5 .31 21 .2 510/9/1997 5 .28 21 .1 3

10/10/1997 5 .19 20 .7 510/13/1997 5 .56 22 .2 5

10/14/1997 5 .72 22 .8 810/15/1997 5 .66 22 .6 310/16/1997 5 .53 22 .1 310/17/1997 5 .19 20 .7 510/20/1997 5 .52 22 .0610/21/1997 5 .98 23 .94

10/22/1997 5 .88 23 .5 010/23/1997 6 .25 25 .0 0

10/24/1997 5 .72 22 .8 810/27/1997 4 .88 19 .5 0

10/28/1997 5 .16 20 .6 310/29/1997 5 .28 21 .1 310/30/1997 5 .28 21 .1 3

10/31/1997 5 .63 22 .5 0



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

11/3/1997 $ 5 .75 S 23 .0 011/4/1997 5 .72 22 .8 811/5/1997 5 .63 22 .5 011 /6/1997 5 .69 22 .7 511 /7/1997 5 .63 22 .5 0

11/10/1997 5 .75 23 .0 0

11/11/1997 5 .97 23 .8 811/12/1997 5 .78 23 .1 311/13/1997 5 .91 23 .6 311/14/1997 6 .03 24 .1 311/17/1997 5 .97 23 .8 8

11/18/1997 5 .81 23 .2 5

11/19/1997 6 .19 24 .7 511/20/1997 6 .22 24 .8 811/21/1997 6 .22 24 .8 8

11/24/1997 6 .03 24 .1 311/25/1997 6 .16 24 .6 3

11/26/1997 6 .16 24 .6 311/28/1997 6 .09 24 .3 8

12/1/1997 6 .25 25 .0 012/2/1997 5.91 23.6312/3/1997 5 .84 23 .3 812/4/1997 5 .94 23 .7 512/5/1997 5.97 23 .8812/8/1997 6 .16 24 .6 312/9/1997 6 .28 25 .1 3

12/10/1997 6 .22 24 .8 812/11/1997 5 .92 23 .6 912/12/1997 5 .81 23 .2 512/15/1997 6 .00 24 .0 012/16/1997 6 .19 24 .7 5

12/17/1997 5 .66 22 .63

12/18/1997 5 .67 22 .6912/19/1997 6 .08 24 .3 1

12/22/1997 5 .94 23 .7 512/23/1997 5 .73 22 .9412/24/1997 5 .72 22 .8 8

12/26/1997 5 .81 23 .2 5

12/29/1997 6 .03 24 .1 312/30/1997 6 .56 26 .2 512/31/1997 6 .69 26 .7 5

1/2/1998 6 .84 27 .3 81/5/1998 6 .66 26 .6 31/6/1998 6 .66 26 .6 31/7/1998 6 .75 27 .0 01/8/1998 6 .52 26 .0 61/9/1998 6 .31 25 .2 5

1/12/1998 6 .59 26 .3 81/13/1998 6 .75 27 .0 01/14/1998 6 .61 26 .441/15/1998 6 .44 25 .7 51/16/1998 6 .38 25 .501/20/1998 6 .56 26 .2 5



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

1/21/1998 8 7.25 $ 29.0 01/22/1998 6 .97 27 .8 81/23/1998 6 .91 27 .6 31/26/1998 6 .41 25 .6 31/27/1998 6 .56 26 .2 51/28/1998 7 .38 29 .5 01/29/1998 7 .34 29 .3 81/30/1998 7 .31 29 .2 52/2/1998 7 .72 30 .8 82/3/1998 7 .81 31 .2 52/4/1998 7 .97 31 .8 82/5/1998 8 .56 34 .252/6/1998 8 .38 33 .5 02/9/1998 8 .22 32 .8 8

2/10/1998 8 .50 34 .002/11/1998 8 .25 33 .0 02/12/1998 8 .06 32 .2 52/13/1998 8 .39 33 .5 62/17/1998 8 .72 34 .8 82/18/1998 8 .69 34 .7 52/19/1998 8 .72 34 .8 82/20/1998 9 .09 36 .3 82/23/1998 9 .23 36 .9 42/24/1998 8 .88 35 .5 02/25/1998 8 .78 35 .1 32/26/1998 9 .34 37 .3 82/27/1998 9 .31 37 .2 53/2/1998 9 .44 37 .7 53/3/1998 9 .53 38 .1 33/4/1998 9 .25 37 .003/5/1998 8 .88 35 .5 03/6/1998 9 .13 36 .503/9/1998 8 .75 35 .00

3/10/1998 8 .70 34 .8 13/11/1998 8 .69 34 .7 53/12/1998 8 .66 34 .6 33/13/1998 8 .53 34 .1 33/16/1998 8 .89 35 .5 63/17/1998 8 .78 35 .1 33/18/1998 8 .75 35 .0 03/19/1998 8 .63 34 .5 03/20/1998 8 .55 34 .1 93/23/1998 8 .52 34 .0 63/24/1998 8 .48 33 .9 43/25/1998 9 .00 36 .0 03/26/1998 9 .30 37 .1 93/27/1998 8 .97 35 .8 83/30/1 998 8 .73 34 .943/31/1998 9 .13 36 .5 04/1/1998 9 .30 37 .1 94/2/1998 9 .56 38 .2 54/3/1998 9 .13 36 .5 04/6/1998 9 .25 37 .0 0



January 2, 1997 - July 27, 200 6

Closing Pric e

DateNot

Split-Adjusted Split-Adjusted

(1) (2)

4/7/1998 8 9 .13 $ 36 .5 04/8/1998 8 .92 35 .6 94/9/1998 9 .38 37 .5 0

4/13/1998 9 .56 38 .2 54/14/1998 9 .75 39 .0 04/15/1998 10 .03 40 .1 34/16/1998 9.94 39 .7 54/17/1998 10 .02 40 .0 64/20/1998 10 .22 40 .8 84/21/1998 10 .00 40 .0 04/22/1998 10 .28 41 .1 34/23/1998 9 .94 39 .7 54/24/1998 10 .19 40 .7 54/27/1998 9 .66 38 .6 34/28/1998 9 .81 39 .2 54/29/1998 10 .00 40 .0 04/30/1998 10 .13 40 .5 0

5/1 /1998 10 .28 41 .1 35/4/1998 10 .25 41 .0 05/5/1998 10 .19 40 .7 55/6/1998 10 .09 40 .3 85/7/1998 9 .50 38 .005/8/1998 9 .69 38 .7 5

5/11/1998 8 .84 35 .3 85/12/1998 8 .72 34 .8 85/13/1998 9 .50 38 .005/14/1998 9 .44 37 .7 55/15/1998 9 .00 36 .0 05/18/1998 8 .28 33 .1 35/19/1998 8 .31 33 .2 55/20/1998 8 .66 34 .6 35/21/1998 9.00 36 .0 05/22/1998 8 .75 35 .0 05/26/1998 8 .30 33 .1 95/27/1998 9 .06 36 .2 55/28/1998 8 .52 34 .0 65/29/1998 8 .31 33 .2 5

6/1/1998 8 .09 32 .3 86/2/1998 8 .25 33 .006/3/1998 8 .31 33 .2 56/4/1998 8 .63 34 .506/5/1998 8 .63 34 .5 06/8/1998 8 .64 34 .5 66/9/1998 8 .53 34 .1 3

6/10/1998 8 .38 33 .5 36/11 /1998 8 .81 35 .2 56/12/1998 8 .91 35 .6 36/15/1998 8 .41 33 .6 36/16/1998 8 .72 34 .8 86 /1 7/1998 9 .25 37 .0 06/18/1998 8 .91 35 .6 36/19/1998 9 .36 37 .4 46/22/1998 9 .27 37 .0 6



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

6/23/1998 8 9.50 $ 38 .0 06/24/1998 9 .63 38 .5 06/25/1998 10 .19 40 .7 56/26/1998 10 .20 40 .8 16/29/1998 10 .63 42 .5 06/30/1998 11 .16 44 .63

7/1 /1998 11 .13 44 .507/2/1998 10 .94 43 .7 57/6/1998 11 .31 45 .2 57/7/1998 10 .88 43 .507/8/1998 10 .69 42 .7 57/9/1998 10 .75 43 .0 0

7/10/1998 10 .50 42 .0 07/13/1998 10 .69 42 .7 57/14/1998 10 .47 41 .8 87/15/1998 10 .78 43 .1 37/16/1998 10 .75 43 .0 07/17/1998 10 .81 43 .2 57/20/1998 10 .94 43 .7 57/21 /1998 10 .69 42 .7 57/22/1998 10 .47 41 .8 87/23/1998 10 .56 42 .2 57/24/1998 10 .66 42 .6 37/27/1998 10 .34 41 .3 87/28/1998 10 .44 41 .7 57/29/1998 10 .16 40 .6 37/30/1998 10 .59 42 .3 87/31/1998 10 .34 41 .3 8

8/3/1998 10 .34 41 .3 88/4/1998 9 .69 38 .7 58/5/1998 9 .75 39 .008/6/1998 10 .00 40 .008/7/1998 10 .03 40 .1 3

8/10/1998 10 .20 40 .8 18/11/1998 9 .75 39 .0 08/12/1998 10 .25 41 .0 08/13/1998 10 .25 41 .0 08/14/1998 9 .91 39 .6 38/17/1998 10 .78 43 .1 38/18/1998 11 .09 44 .3 88/19/1998 10 .75 43 .0 08/20/1998 10 .53 42 .1 38/21/1998 10 .50 42 .0 08/24/1998 10 .56 42 .2 58/25/1998 10 .50 42 .0 08/26/1998 10 .19 40 .7 58/27/1998 9 .50 38 .0 08/28/1998 9 .13 36 .5 08/31/1998 8 .41 33 .6 39/1/1998 9 .31 37 .2 59/2/1998 9 .38 37 .5 09/3/1998 9 .47 37 .8 89/4/1998 9 .34 37 .3 8



January 2, 1997 - July 27, 200 6

Closing Price

NotDate Split - Adjusted Split-Adjuste d

(1) (2)

9/8/1998 S 9.53 S 38 .1 39/9/1998 9 .03 36 .1 3

9/10/1998 8 .88 35 .5 09/11/1998 9 .34 37 .3 89/14/1998 9 .66 38 .6 39/15/1998 9 .75 39 .0 09/16/1998 9 .91 39 .6 3

9/17/1998 9 .97 39 .8 89/18/1998 9 .66 38 .6 39/21/1998 9 .75 39 .0 09/22/1998 10 .16 40 .6 39/23/1998 10 .39 41 .5 69/24/1998 10 .25 41 .009/25/1998 10 .06 40 .2 59/28/1998 9 .97 39 .8 89/29/1998 10 .09 40 .3 89/30/1998 9 .92 39 .6910/1/1998 9 .59 38 .3 810/2/1998 8 .09 32 .3 810/5/1998 6 .03 24 .1 310/6/1998 6 .34 25 .3 810/7/1998 6 .44 25 .7 510/8/1998 6 .50 26 .0010/9/1998 7 .31 29 .2 5

10/12/1998 7 .66 30 .6 310/13/1998 7 .38 29 .5 010/14/1998 7 .19 28 .7 510/15/1998 7 .25 29 .0 010/16/1998 7 .28 29 .1 310/19/1998 7 .47 29 .8 810/20/1998 8 .03 32 .1 310/21/1998 8 .84 35 .3 810/22/1998 8 .66 34 .6 310/23/1998 9 .44 37 .7 510/26/1998 10 .00 40 .0 010/27/1998 10 .06 40 .2 510/28/1998 10 .00 40 .0 010/29/1998 10 .27 41 .0 610/30/1998 10 .38 41 .5 0

11 /2/1998 10 .66 42 .6 311 /3/1998 10 .47 41 .8 811 /4/1998 10 .53 42 .1 311 /5/1998 10 .88 43 .5 011 /6/1998 11 .33 45 .3 111/9/1998 10 .86 43 .44

11 /10/1998 10 .73 42 .9411/11/1998 10 .34 41 .3 811/12/1998 10 .63 42 .5011/13/1998 10 .41 41 .6 311/16/1998 10 .63 42 .5 011/17/1998 10 .91 43 .6 311/18/1998 11 .38 45 .5 011/19/1998 11 .59 46 .3 8



Date

Closing Price


(1) (2)

11/20/1998 8 11 .63 $ 46 .5 011/23/1998 11 .69 46 .7 511 /24/1998 11 .50 46 .0 011 /25/1998 11 .72 46 .8 811/27/1998 12 .19 48 .7 511 /30/1998 11 .47 45 .8 8

12/1 /1998 11 .41 45 .6312/2/1998 11 .19 44 .7512/3/1998 11 .16 44 .6312/4/1998 12 .16 48 .6312/7/1998 12 .31 49 .2 512/8/1998 12 .75 51 .0012/9/1998 13 .25 53 .00

12/10/1998 13 .05 52 .2 212/11/1998 13 .16 52 .6 312/14/1998 12 .50 50 .0 012/15/1998 12 .97 51 .8 812/16/1998 13 .19 52 .7 512/17/1998 12 .84 51 .3 812/18/1998 13 .75 55 .0 012/21/1998 14 .25 57 .0 012/22/1998 14.38 57 .5 012/23/1998 14 .75 59 .0 012/24/1998 14 .50 58 .0 012/28/1998 14 .50 58 .0 012/29/1998 14 .72 58 .8 812/30/1998 14 .75 59 .0 012/31 /1998 15 .81 63 .2 5

1/4/1999 14 .67 58 .6 91/5/1999 14 .47 57 .8 81/6/1999 14 .91 59 .6 31/7/1999 14 .69 58 .7 51/8/1999 15 .63 62 .5 0

1/11/1999 15 .84 63 .3 41/12/1999 14 .69 58 .7 51/13/1999 13 .63 54 .501/14/1999 13 .31 53 .2 51/15/1999 14 .56 58 .2 51/ 19/1999 14 .78 59 .1 31/20/1999 13 .50 54 .001/21/1999 12 .03 48 .1 31/22/1999 12 .69 50 .7 51/25/1999 13 .75 55 .0 01/26/1999 14 .47 57 .8 81/27/1999 13 .91 55 .6 31/28/1999 14 .28 57 .1 31/29/1999 15 .78 63 .1 32/1/1999 16 .52 66 .0 62/2/1999 16 .06 64 .2 52/3/1999 15 .88 63 .5 02/4/1999 15 .06 60 .2 52/5/1999 14 .88 59 .5 02/8/1999 14 .69 58 .7 5



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

2/9/1999 $ 13 .38 $ 53 .5 02/10/1999 14 .75 59 .0 02/11 /1999 14 .94 59 .7 52/12/1999 14 .39 57 .5 62/16/1999 14 .47 57 .8 82/17/1999 13 .98 55 .942/18/1999 14 .25 57 .0 02/19/1999 13 .97 55 .8 82/22/1999 15 .28 61 .1 32/23/1999 15 .78 63 .1 32/24/1999 16 .19 64 .7 52/25/1999 16 .31 65 .2 52/26/1999 16 .20 64 .8 1

3/1/1999 17 .97 35 .9 43/2/1999 18 .56 37 .1 33/3/1999 17 .28 34 .5 63/4/1999 18 .06 36 .1 33/5/1999 18 .34 36 .6 93/8/1999 18 .31 36 .6 33/9/1999 17 .50 35 .0 0

3/10/1999 18 .31 36 .6 33/11/1999 19 .13 38 .2 53/12/1 999 18 .34 36 .6 93/15/1999 19 .48 38973/16/1999 19 .22 38 .4 43/17/1999 18 .06 36 .1 33/18/1999 17 .94 35 .8 83/19/1999 16 .69 33 .3 83/22/1999 15 .91 31 .8 13/23/1999 15 .31 30 .633/24/1999 15 .28 30 .5 63/25/1999 16 .44 32 .8 83/26/1999 16 .00 32 .003/29/1999 17 .13 34 .2 53/30/1999 18 .13 36 .2 53/31 /1999 17 .81 35 .6 3

4/1 /1999 16 .50 33 .0 04/5/1999 18 .38 36 .7 54/6/1999 17 .97 35 .944/7/1999 13 .56 27 .1 34/8/1999 13 .53 27 .0 64/9/1999 14 .75 29 .5 0

4/12/1 999 14 .38 28 .7 54/13/1999 14 .25 28 .5 04/14/1999 15 .00 30 .0 04/15/1999 15 .27 30 .5 34/16/1 999 13 .69 27 .3 84/19/1999 10 .94 21 .8 84/20/1999 11 .81 23 .6 34/21 /1999 12.06 24 .1 34/22/1999 12 .72 25 .4 44/23/1999 13 .44 26 .8 84/26/1999 14 .72 29 .44

n/e/r/a Page 1 1 of 46


Date

Closing Price


(1) (2)

4/27/1999 8 14 .44 $ 28 .8 84/28/1999 13 .81 27 .6 34/29/1999 12 .94 25 .8 84/30/1999 14 .09 28 .1 9

5/3/1999 14 .81 29 .6 35/4/1999 14 .19 28 .3 85/5/1999 14 .69 29 .3 85/6/1999 14 .59 29 .1 95/7/1999 15 .09 30 .1 9

5/10/1999 15 .14 30 .2 85/11/1999 15 .22 30 .4 45/12/1999 15 .88 31 .7 55/13/1999 16 .25 32 .5 05/14/1999 15 .97 31 .9 45/17/1999 16 .19 32 .3 85/18/1999 15 .78 31 .5 65/19/1999 16 .31 32 .6 35/20/1 999 16 .94 33 .8 85/21/1999 16 .59 33 .1 95/24/1999 15 .61 31 .2 25/25/1999 15 .25 30 .5 05/26/1 999 15 .50 31 .0 05/27/1999 15 .66 31 .3 15/28/1999 16 .44 32 .8 8

6/1 /l 999 16 .81 33 .636/2/1999 16 .78 33 .566/3/1999 16 .84 33 .696/4/1999 17 .03 34 .066/7/1999 18 .00 36 .006/8/1999 17 .97 35 .946/9/1999 17 .92 35 .84

6/10/1999 18.44 36 .8 86/11/1999 18 .09 36 .1 96/14/1999 17 .53 35 .0 66/15/1999 17 .44 34 .8 86/16/1999 17 .52 35 .0 36/17/1999 18 .09 36 .1 96/18/1999 18 .25 36 .5 06/21/1999 18 .34 36 .6 96/22/1999 18 .66 37 .3 16/23/1999 17 .84 35 .6 96/24/1999 17 .69 35 .3 86/25/1999 17 .47 34 .946/28/1999 17 .63 35 .2 56/29/1999 17 .41 34 .8 16/30/1999 17 .69 35 .3 8

7/1/1999 19 .06 38 .1 37/2/1999 19 .06 38 .1 37/6/1999 20 .06 40 .1 37/7/1999 19 .06 38 .1 37/8/1999 19 .00 38 .0 07/9/1999 19 .13 38 .2 5

7/1 2/1999 18 .84 37 .6 9



January 2, 1997 - July 27, 200 6

ClosinLy Price

No tDate Split-Adjusted Split - Adjusted

(1) (2 )

7/13/1999 $ 18.81 $ 37 .6 37/14/1999 18 .81 37 .6 37/15/1999 18 .25 36 .5 07/16/1999 21 .94 43 .8 87/19/1999 21 .50 43 .0 07/20/1999 21 .06 42 .1 37/21/1999 21 .58 43 .1 67/22/1999 22 .13 44 .2 57/23/1999 21 .25 42 .5 07/26/1999 20 .84 41 .6 97/27/1999 22 .09 44 .1 97/28/1999 22 .31 44 .6 37/29/1999 22 .56 45 .1 37/30/1999 23 .06 46 .1 3

8/2/1999 21 .72 43 .4 48/3/1999 21 .23 42 .4 78/4/1999 20 .94 41 .8 88/5/1999 23 .13 46 .2 58/6/1999 21 .69 43 .3 88/9/1999 21 .19 42 .3 8

8/10/1999 21 .44 42 .8 88/11/1999 22 .38 44 .7 58/12/1999 23 .19 46 .3 88/13/1999 23 .56 47 .1 38/16/1999 24.19 48 .3 88/17/1999 24 .25 48 .5 08/18/1999 23 .19 46 .3 88/19/1999 23 .69 47 .3 88/20/1999 24 .00 48 .008/23/1999 23 .81 47 .6 38/24/1999 23 .53 47 .0 68/25/1999 24 .81 49 .6 38/26/1999 25 .13 50 .2 58/27/1999 24 .13 48 .2 58/30/1999 23 .84 47 .6 98/31/1999 23 .88 47 .7 59/1/1999 25 .56 51 .1 39/2/1999 26 .06 52 .1 39/3/1999 27 .69 55 .3 89/7/1999 28 .47 56 .9 49/8/1999 28 .00 56 .0 09/9/1999 30 .03 60 .0 6

9/10/1999 32 .63 65 .2 59/13/1999 32 .09 64 .1 99/14/1999 31 .63 63 .2 59/15/1999 29 .36 58 .7 29/16/1999 30 .22 60 .449/17/1999 30 .56 61 .1 39/20/1999 29 .73 59 .4 79/21/1999 29 .25 58 .5 09/22/1999 30 .36 60 .7 29/23/1999 27 .63 55 .2 59/24/1999 29 .56 59 .1 3



January 2, 1997 - July 27, 200 6

Closing Price

No tDate Split-Adjusted Split-Adjusted

(1) (2 )

9/27/1999 $ 30.58 S 61 .1 69/28/1999 29 .38 58 .7 59/29/1999 31 .25 62 .5 09/30/1999 32 .28 64 .5 610/1/1999 32 .78 65 .5 610/4/1999 35 .00 70 .0010/5/1999 34 .58 69 .1 610/6/1999 34 .02 68 .0310/7/1999 34 .13 68 .2 510/8/1999 34 .00 68 .00

10/11/1999 34 .31 68 .6310/12/1999 36 .25 72 .5010/13/1999 34 .75 69 .5 010/14/1999 36 .19 72 .3 810/15/1999 35 .00 70 .0 010/18/1999 36 .75 73 .5 010/19/1999 34 .97 69 .9410/20/1999 35 .69 71 .3 810/21/1999 35 .00 70 .0 010/22/1999 34 .94 69 .8 810/25/1999 36 .25 72 .5 010/26/1999 36 .06 72 .1 310/27/1999 36 .50 73 .0 010/28/1999 38 .06 76 .1 310/29/1999 40 .56 81 .1 3

11/1/1999 41 .94 83 .8 811/2/1999 40 .94 81 .8 811/3/1999 45 .13 90 .2 511/4/1999 43 .81 87 .6 311/5/1999 46 .22 92 .4411/8/1999 46 .16 92 .3 111/9/1999 48 .28 96 .5 6

11/10/1999 46 .81 93 .6 311/11/1999 44 .25 88 .5011/12/1999 43 .81 87 .6 311/15/1999 42 .97 85 .9411/16/1999 43 .28 86 .5 611/17/1999 42 .50 85 .0 011/18/1999 43 .44 86 .8 811/19/1999 43 .00 86 .0 011/22/1999 42 .25 84 .5 011/23/1999 40 .20 80 .4 111/24/1999 42 .30 84 .5 911 /26/1999 43 .03 86 .0 611/29/1999 43 .38 86 .7 511/30/1999 41 .56 83 .1 3

12/1/1999 41 .34 82 .6 912/2/1999 42 .44 84 .8 812/3/1999 47 .19 94 .3 812/6/1999 46 .81 93 .6 312/7/1999 46 .13 92 .2 512/8/1999 48 .81 97 .6 312/9/1999 45 .47 90 .9 4



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

12/10/1999 $ 47.66 $ 95 .3 112/13/1999 46.97 93 .9412/14/1999 47 .25 94 .5 012/15/1999 46 .41 92 .8 112/16/1999 47.63 95 .2512/17/1999 49 .06 98 .1 312/20/1999 51 .13 102 .2 512/21/1999 54 .69 109 .3 812/22/1999 50 .84 101 .6 912/23/1999 50 .50 101 .0 012/27/1999 49 .00 98 .0 012/28/1999 51 .38 102 .7 512/29/1999 52 .38 104 .7 512/30/1999 51 .88 103 .7 512/31/1999 53 .97 107 .9 4

1/3/2000 50 .98 101 .9 71/4/2000 48 .50 97 .001/5/2000 44 .75 89 .5 01/0/2000 40.72 81 .441/7/2000 45 .38 90 .7 5

1/10/2000 43 .53 87 .0 61/11/2000 46.97 93 .941/12/2000 44 .13 88 .2 51/13/2000 43 .81 87 .6 31/14/2000 47 .31 94 .6 31/18/2000 58 .41 116 .8 11/19/2000 57 .47 114 .9 41/20/2000 59 .03 118 .0 61/21/2000 63 .66 127 .3 11/24/2000 68 .13 136 .2 51/25/2000 67 .31 134 .6 31/26/2000 64 .00 128 .0 01/27/2000 61 .31 122 .6 31/28/2000 54 .78 109 .5 61/31/2000 54 .69 109 .3 82/1/2000 58 .19 116 .3 82/2/2000 62 .47 124 .9 42/3/2000 65 .00 130 .002/4/2000 67 .00 134 .002/7/2000 70 .00 140 .002/8/2000 68.00 136 .002/9/2000 69 .22 138 .44

2/10/2000 74.00 148 .002/11/2000 78 .88 157 .7 52/14/2000 77 .25 77 .2 52/15/2000 77 .25 77 .2 52/16/2000 77 .50 77 .5 02/17/2000 82 .38 82 .3 82/18/2000 89 .75 89 .7 52/22/2000 86 .75 86 .7 52/23/2000 85 .69 85 .6 92/24/2000 90 .13 90 .1 32/25/2000 90 .88 90 .8 8



January 2, 1997 - July 27, 2006

Closing Price

NotDate Split-Adjusted Split-Adjusted

(1) (2)

2/28/2000 $ 89.50 $ 89 .5 02/29/2000 96 .38 96 .3 8

3/1 /2000 102 .81 102 .8 13/2/2000 114 .53 114 .5 33/3/2000 132 .13 132 .1 33/6/2000 123 .88 123 .8 83/7/2000 118 .88 118 .8 83/8/2000 118 .63 118 .6 33/9/2000 115 .00 115 .0 0

3/10/2000 114.88 114.88

3/13/2000 116 .00 116 .0 03/14/2000 109 .56 109 .5 63/15/2000 93 .94 93 .943/16/2000 104 .44 104 .4 43/17/2000 108 .56 108 .5 63/20/2000 103 .31 103 .3 13/21/2000 108 .75 108 .7 53/22/2000 103 .13 103 .1 33/23/2000 99 .00 99 .0 03/24/2000 102 .94 102 .9 43/27/2000 104 .75 104 .7 53/28/2000 95 .88 95 .8 83/29/2000 81 .13 81 .1 33/30/2000 78 .19 78 .1 93/31 /2000 79 .25 79 .2 5

4/3/2000 62 .25 62 .2 54/4/2000 63 .38 63 .3 84/5/2000 71 .56 71 .5 64/6/2000 79.06 79 .064/7/2000 86 .56 86 .56

4/10/2000 80 .13 80 .1 34/11/2000 72 .88 72 .8 84/12/2000 67 .25 67 .2 54/13/2000 61 .88 61 .8 84/14/2000 58 .75 58 .7 54/17/2000 76 .72 76 .7 24/18/2000 79 .63 79 .6 34/19/2000 70 .63 70 .6 34/20/2000 72 .39 72 .3 94/24/2000 65 .75 65.754/25/2000 75 .44 75.444/26/2000 80 .25 80 .2 54/27/2000 84 .75 84 .7 54/28/2000 90 .00 90 .0 0

5/1 /2000 88 .75 88 .7 55/2/2000 84 .44 84 .4 45/3/2000 81 .94 81 .9 45/4/2000 82 .31 82 .3 15/5/2000 85.00 85 .0 05/8/2000 81 .13 81 .1 35/9/2000 77 .94 77 .94

5/10/2000 71 .94 71 .945/11/2000 76 .00 76 .00



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

5/12/2000 8 72.25 $ 72 .2 55/15/2000 76 .50 76 .5 05/16/2000 84 .50 84 .5 05/17/2000 78 .38 78 .3 85/18/2000 74 .50 74 .5 05/19/2000 75 .50 75 .5 05/22/2000 70 .63 70 .6 35/23/2000 65 .20 65 .2 05/24/2000 67 .88 67 .8 85/25/2000 72 .63 72 .6 35/26/2000 71 .88 71 .8 85/30/2000 80 .94 80 .9 45/31/2000 84 .75 84 .7 5

6/1 /2000 84 .63 84 .6 36/2/2000 92 .44 92 .446/5/2000 92 .75 92 .7 56/6/2000 85.00 85 .006/7/2000 85.13 85 .1 36/8/2000 83 .50 83 .506/9/2000 87 .48 87 .4 8

6/12/2000 84 .00 84 .006/13/2000 84 .50 84 .5 06/14/2000 83 .38 83 .3 86/15/2000 83 .69 83 .6 96/16/2000 90 .31 90 .3 16/19/2000 96 .00 96 .0 06/20/2000 99 .94 99 .9 46/21/2000 97 .88 97 .8 86/22/2000 99 .44 99 .4 46/23/2000 94 .56 94 .5 66/26/2000 91 .69 91 .6 96/27/2000 89 .00 89 .0 06/28/2000 94 .44 94 .4 46/29/2000 96 .50 96 .506/30/2000 96 .75 96 .7 57/3/2000 97 .25 97.2 57/5/2000 94 .38 94 .3 87/6/2000 96 .00 96 .0 07/7/2000 103 .75 103 .7 5

7/10/2000 109 .56 109 .5 67/11 /2000 113 .50 113 .5 07/12/2000 109 .88 109 .8 87/1 3/2000 120 .25 120 .2 57/14/2000 106 .56 106 .5 67/17/2000 102 .81 102 .8 17/18/2000 108 .00 108 .0 07/19/2000 105 .00 105 .0 07/20/2000 105 .31 105 .3 17/21/2000 99 .13 99 .1 37/24/2000 96 .13 96 .1 37/25/2000 94 .69 94 .6 97/26/2000 97.94 97 .9 47/27/2000 90 .06 90 .0 6



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

7/28/2000 $ 85 .13 S 85 .1 37/31/2000 99 .27 99 .2 7

8/1/2000 93 .13 93 .1 38/2/2000 93 .38 93 .3 88/3/2000 94 .44 94 .448/4/2000 100 .00 100 .008/7/2000 104 .31 104 .3 18/8/2000 108 .63 108 .638/9/2000 106 .44 106 .44

8/10/2000 100 .38 100 .3 88/11/2000 99 .75 99 .7 58/14/2000 100 .44 100 .448/15/2000 98 .81 98 .8 18/16/2000 98 .94 98 .948/1 7/2000 97 .13 97 .1 38/18/2000 101 .44 101 .4 48/21/2000 105 .00 105 .0 08/22/2000 105 .63 105 .6 38/23/2000 103 .44 103 .4 48/24/2000 106 .81 106 .8 18/25/2000 107 .25 107 .2 58/28/2000 113 .81 113 .8 18/29/2000 111 .88 111 .8 88/30/2000 117 .13 117 .1 38/31/2000 122 .19 122 .1 9

9/1 /2000 126 .50 126 .509/5/2000 129 .06 129 .0 69/6/2000 123 .00 123 .0 09/7/2000 130 .00 130 .0 09/8/2000 121 .38 121 .3 8

9/11/2000 116 .13 116 .1 39/12/2000 112 .39 112 .3 99/13/2000 119 .94 119 .9 49/14/2000 128 .88 128 .8 89/15/2000 124 .50 124 .5 09/18/2000 125 .44 125 .4 49/19/2000 134 .63 134 .6 39/20/2000 140 .75 140 .7 59/21/2000 140 .31 140 .3 19/22/2000 148 .94 148 .9 49/25/2000 153 .50 153 .5 09/26/2000 155 .25 155 .2 59/27/2000 146 .00 146 .0 09/28/2000 156 .31 156 .3 19/29/2000 156 .75 156 .7 510/2/2000 151 .44 151 .4 410/3/2000 140 .50 140 .5 010/4/2000 138 .06 138 .0 610/5/2000 139 .50 139 .5 010/6/2000 143 .00 143 .0 010/9/2000 145 .17 145 .1 7

10/10/2000 124 .50 124 .5 010/11 /2000 124 .06 124 .0 6



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

10/12/2000 S 119.94 S 119 .9 410/13/2000 132 .25 132 .2 510/16/2000 142 .56 142 .5 610/17/2000 134 .88 134 .8 810/18/2000 122 .63 122 .6 310/19/2000 118 .25 118 .2 510/20/2000 134 .00 134 .0 010/23/2000 125 .94 125 .9410/24/2000 127 .06 127 .0 610/25/2000 119 .50 119 .5 010/26/2000 115 .13 115 .1 310/27/2000 116 .81 116 .8 110/30/2000 105 .00 105 .0 010/31/2000 111 .00 111 .0 0

11/1/2000 108 .75 108 .7 511/2/2000 108 .13 108 .1 311/3/2000 112 .44 112 .4 411 /6/2000 126 .06 126 .0 611 /7/2000 134 .13 134 .1 311 /8/2000 119 .00 119 .0 011/9/2000 130 .00 130 .00

11 /10/2000 116 .75 116 .7 511 /13/2000 106 .00 106 .0011/14/2000 119 .23 119 .2311/15/2000 118 .13 118 .1 311 /16/2000 111 .52 111 .5 211/17/2000 98 .00 98 .0 011/20/2000 81 .25 81 .2 511/21/2000 83 .38 83 .3 81 1/22/2000 76 .19 76 .1 91 1/24/2000 79 .69 79 .6 911/27/2000 75 .56 75 .5 611/28/2000 65 .13 65 .1 311/29/2000 63 .06 63 .0 611/30/2000 67 .31 67 .3 1

12/1 /2000 80 .13 80 .1 312/4/2000 70 .81 70 .8 112/5/2000 86 .13 86 .1 312/6/2000 85 .63 85 .6 312/7/2000 83 .56 83 .5612/8/2000 99 .38 99 .3 8

12/11 /2000 106 .75 106 .7 512/12/2000 96 .94 96 .9412/13/2000 92 .63 92 .6 312/14/2000 86 .38 86 .3 812/15/2000 95 .06 95 .0 612 /1 8/2000 95 .31 95 .3 112/19/2000 87 .06 87 .0 612/20/2000 74 .63 74 .6 312/21/2000 80 .56 80 .5 612/22/2000 94 .75 94 .7 512/26/2000 95 .63 95 .6 312/27/2000 100 .63 100 .6 3



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

12/28/2000 8 104.94 $ 104.9412/29/2000 90 .25 90 .2 5

1/2/2001 74 .55 74 .5 51/3/2001 94 .31 94 .3 11/4/2001 81 .56 81 .5 61/5/2001 67 .06 67 .0 61/8/2001 60 .88 60 .8 81/9/2001 66 .44 66 .4 4

1/10/2001 69 .75 69 .7 51/11/2001 78 .44 78 .441/12/2001 81 .50 81 .5 01/16/2001 79 .36 79 .3 61/17/2001 80 .94 80 .941/18/2001 90 .50 90 .501/19/2001 95 .38 95 .3 81/22/2001 91 .56 91 .561/23/2001 94 .81 94 .8 11/24/2001 95 .50 95 .501/25/2001 89 .75 89 .7 51/26/2001 94 .94 94 .941/29/2001 97 .00 97 .0 01/30/2001 95 .75 95 .7 51/31/2001 86.88 86.882/1/2001 87 .94 87 .942/2/2001 83 .00 83 .0 02/5/2001 84 .81 84 .8 12/6/2001 82 .75 82 .7 52/7/2001 82 .75 82 .7 52/8/2001 75 .31 75 .3 12/9/2001 71 .94 71 .9 4

2/12/2001 67 .00 67 .0 02/13/2001 66 .88 66 .8 82/14/2001 77 .06 77 .0 62/15/2001 84 .44 84 .4 42/16/2001 79 .00 79 .0 02/20/2001 69 .69 69 .6 92/21/2001 70 .63 70 .6 32/22/2001 63 .13 63 .1 32/23/2001 70 .06 70 .062/26/2001 72 .38 72 .3 82/27/2001 63 .94 63 .942/28/2001 62.94 62.94

3/1 /2001 59 .00 59 .0 03/2/2001 48 .50 48 .5 03/5/2001 43 .63 43 .6 33/6/2001 48 .38 48 .3 83/7/2001 50 .48 50 .4 83/8/2001 42 .06 42 .0 63/9/2001 38 .31 38 .3 1

3/12/2001 35 .06 35 .0 63/13/2001 41 .94 41 .9 43/14/2001 41 .38 41 .3 83/15/2001 37 .88 37 .8 8



January 2, 1997 - July 27, 2006

Closing Price


(1) (2)

3/16/2001 8 35 .75 $ 35 .7 53/19/2001 39 .63 39 .6 33/20/2001 39 .13 39 .1 33/21 /2001 41 .31 41 .3 13/22/2001 46.56 46 .5 63/23/2001 47 .31 47 .3 13/26/2001 47 .31 47 .3 13/27/2001 49.94 49 .943/28/2001 41 .50 41 .5 03/29/2001 40 .50 40 .5 03/30/2001 41 .88 41 .8 84/2/2001 39 .19 39 .1 94/3/2001 34 .31 34 .3 14/4/2001 31 .88 31 .8 84/5/2001 38 .94 38 .9 44/6/2001 38 .06 38 .0 64/9/2001 40 .44 40 .4 4

4/10/2001 46 .06 46 .0 64/11/2001 44 .35 44 .3 54/12/2001 49 .79 49 .7 94/16/2001 51 .09 51 .0 94/17/2001 52.61 52 .6 14/18/2001 58 .92 58 .9 24/19/2001 68 .01 68 .0 14/20/2001 63 .69 63 .694/23/2001 57 .70 57 .704/24/2001 58 .25 58 .2 54/25/2001 60 .38 60 .3 84/26/2001 57 .73 57 .7 34/27/2001 61 .72 61 .7 24/30/2001 66 .15 66 .1 5

5/1 /2001 72 .57 72 .5 75/2/2001 70 .60 70 .6 05/3/2001 67 .41 67 .4 15/4/2001 67 .51 67 .5 15/7/2001 63 .98 63 .9 85/8/2001 63 .50 63 .5 05/9/2001 64 .79 64 .7 9

5/10/2001 62 .93 62 .9 35/11/2001 61 .32 61 .3 25/14/2001 61 .05 61 .0 55/15/2001 59 .25 59 .2 55/16/2001 67 .17 67 .1 75/17/2001 68 .58 68 .5 85/18/2001 69 .62 69 .6 25/21 /2001 74 .21 74 .2 15/22/2001 73 .50 73 .5 05/23/2001 68 .71 68 .7 15/24/2001 70 .21 70 .2 15/25/2001 67 .55 67 .5 55/29/2001 63 .37 63 .3 75/30/2001 59 .43 59 .4 35/31/2001 59 .24 59 .2 4



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

6/1/2001 8 60.15 $ 60.1 56/4/2001 59 .92 59 .9 26/5/2001 63 .99 63 .9 96/6/2001 65 .89 65 .8 96/7/2001 67 .12 67 .1 26/8/2001 64 .74 64 .7 4

6/11 /2001 63 .36 63 .3 66/12/2001 65 .05 65 .0 56/13/2001 59 .29 59 .2 96/14/2001 54 .83 54 .8 36/15/2001 54 .79 54 .7 96/18/2001 51 .37 51 .3 76/19/2001 54 .84 54 .846/20/2001 57 .31 57 .3 16/21/2001 57 .42 57 .4 26/22/2001 54 .47 54 .4 76/25/2001 52 .37 52 .3 76/26/2001 53 .71 53 .7 16/27/2001 56 .85 56 .8 56/28/2001 58 .74 58 .7 46/29/2001 59 .90 59 .9 0

7/2/2001 59 .99 59 .9 97/3/2001 55 .49 55 .4 97/5/2001 54 .73 54 .7 37/6/2001 48 .69 48 .6 97/9/2001 47 .51 47 .5 1

7/10/2001 44 .01 44 .0 17/11 /2001 38 .75 38 .7 57/12/2001 42 .97 42 .9 77/13/2001 40 .19 40 .1 97/16/2001 37 .30 37 .3 07/17/2001 38 .58 38 .5 87/18/2001 34 .19 34 .1 97/19/2001 36 .15 36 .1 57/20/2001 36 .63 36 .6 37/23/2001 35 .94 35 .9 47/24/2001 34 .93 34 .9 37/25/2001 35 .68 35 .6 87/26/2001 40 .19 40 .1 97/27/2001 40 .22 40 .2 27/30/2001 38 .54 38 .5 47/31 /2001 38 .66 38 .6 6

8/1 /2001 39 .47 39 .478/2/2001 40 .18 40 .1 88/3/2001 39 .15 39 .1 58/6/2001 38 .15 38 .1 58/7/2001 37 .41 37 .4 18/8/2001 34 .05 34 .0 58/9/2001 35 .05 35 .0 5

8/10/2001 32 .50 32 .5 08/13/2001 34 .90 34 .9 08/14/2001 33 .39 33 .3 98/15/2001 31 .85 31 .8 5



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

8/16/2001 8 32 .72 8 32 .728/17/2001 31 .44 31 .448/20/2001 31 .15 31 .1 58/21/2001 30 .94 30 .948/22/2001 31 .17 31 .178/23/2001 30 .12 30 .1 28/24/2001 32 .04 32 .0 48/27/2001 32 .80 32 .8 08/28/2001 30 .10 30 .1 08/29/2001 28 .99 28 .9 98/30/2001 26 .62 26 .6 28/31 /2001 27 .01 27 .0 1

9/4/2001 24 .41 24 .4 19/5/2001 24 .51 24 .5 19/6/2001 24 .39 24 .3 99/7/2001 24 .09 24 .0 9

9/10/2001 23 .90 23 .9 09/17/2001 20 .83 20 .8 39/18/2001 20 .65 20 .6 59/19/2001 20 .78 20 .7 89/20/2001 20 .09 20.099/21 /2001 19 .74 19 .749/24/2001 21 .01 21 .0 19/25/2001 20 .35 20 .3 59/26/2001 18 .71 18 .7 19/27/2001 18 .96 18 .9 69/28/2001 19 .04 19 .0410/1 /2001 18 .74 18 .7 410/2/2001 22 .26 22 .2 610/3/2001 25 .69 25 .6 910/4/2001 25 .12 25 .1 210/5/2001 25 .97 25 .9 710/8/2001 26 .67 26 .6 710/9/2001 25 .77 25 .7 7

10/10/2001 27 .00 27 .0 010/11 /2001 28 .61 28 .6 110/12/2001 27 .98 27 .9 810/15/2001 27 .67 27 .6 710/16/2001 27 .46 27 .4 610/17/2001 22 .94 22 .9410/18/2001 24 .14 24 .1 410/19/2001 24 .62 24 .6 210/22/2001 24 .01 24 .0 110/23/2001 25 .15 25 .1 510/24/2001 26 .58 26 .5 810/25/2001 27 .33 27 .3 310/26/2001 26 .86 26 .8 610/29/2001 25 .16 25 .1 610/30/2001 24 .63 24 .6 310/31 /2001 23 .82 23 .8 2

11/1/2001 26 .07 26 .0 711 /2/2001 24 .29 24 .2911 /5/2001 26 .79 26 .7 9



January 2, 1997 - July 27, 200 6

Date

Closing Price

NotSplit -Adjusted Split-Adjusted

(1) (2)

11/6/2001 $ 28.05 $ 28.0 511 /7/2001 29 .31 29 .3 111 /8/2001 28 .14 28 .1 411 /9/2001 29 .45 29 .4 5

11/12/2001 30 .50 30 .5 011/13/2001 31 .06 31 .0 611 /14/2001 31 .05 31 .0 511/15/2001 30 .49 30 .4911/16/2001 30 .42 30 .4 211/19/2001 33 .98 33 .9 811 /20/2001 30 .94 30 .9411/21/2001 31 .36 31 .3 611/23/2001 31 .43 31 .4 311 /26/2001 33 .60 33 .6 011 /27/2001 32 .93 32 .9 311 /28/2001 31 .06 31 .0 611/29/2001 31 .97 31 .9 711 /30/2001 30 .79 30 .7 9

12/3/2001 29 .94 29 .9 412/4/2001 31 .88 31 .8 812/5/2001 35 .78 35 .7 812/6/2001 35 .00 35 .0 012/7/2001 34 .11 34 .1 1

12/10/2001 34 .10 34 .1 012/11 /2001 34 .86 34 .8 612/12/2001 35 .53 35 .5 312/13/2001 34 .52 34 .5 212/14/2001 33 .12 33 .1 212/17/2001 34 .30 34 .3012/18/2001 36 .90 36 .9012/19/2001 35 .91 35 .9 112/20/2001 32 .50 32 .5 012/21 /2001 33 .97 33 .9 712/24/2001 33 .58 33 .5 812/26/2001 33 .40 33 .4 012/27/2001 34 .28 34 .2 812/28/2001 34 .95 34 .9 512/31 /2001 33 .98 33 .9 8

1/2/2002 34 .35 34 .3 51/3/2002 35 .02 35 .0 21/4/2002 35 .75 35 .7 51/7/2002 35 .25 35 .2 51/8/2002 35 .27 35 .2 71/9/2002 36 .22 36 .2 2

1/10/2002 35 .94 35 .941/11/2002 36 .56 36 .5 61/14/2002 34 .48 34 .4 81/15/2002 34 .13 34 .1 31/ 16/2002 32 .35 32 .3 51/17/2002 33 .73 33 .7 31/18/2002 31 .04 31 .0 41/22/2002 29 .29 29 .2 91/23/2002 35 .86 35 .8 6



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

1/24/2002 S 36 .97 8 36.9 71/25/2002 37 .51 37 .5 11/28/2002 39 .65 39 .6 51/29/2002 38 .70 38 .7 01/30/2002 38 .66 38 .6 61/31/2002 38 .10 38 .1 02/1/2002 38 .62 38 .6 22/4/2002 36 .94 36 .9 42/5/2002 36 .27 36 .2 72/6/2002 35 .04 35 .0 42/7/2002 35 .36 35 .3 62/8/2002 37 .65 37 .6 5

2/11/2002 37 .27 37 .2 72/12/2002 36 .43 36 .432/13/2002 37 .44 37 .442/14/2002 38 .07 38 .0 72/15/2002 36 .64 36 .642/19/2002 34 .82 34 .8 22/20/2002 34 .88 34 .8 82/21/2002 33 .03 33 .0 32/22/2002 32 .92 32 .9 22/25/2002 34 .63 34 .6 32/26/2002 35 .00 35 .0 02/27/2002 34 .47 34 .4 72/28/2002 33 .88 33 .8 8

3/1/2002 35 .20 35 .2 03/4/2002 37 .45 37 .4 53/5/2002 38 .07 38 .0 73/6/2002 37 .73 37 .7 33/7/2002 36 .82 36 .8 23/8/2002 38 .98 38 .9 8

3/11/2002 41 .58 41 .5 83/12/2002 40 .95 40 .9 53/13/2002 39 .70 39 .7 03/14/2002 39 .44 39 .443/15/2002 38 .39 38 .3 93/18/2002 38 .16 38 .1 63/19/2002 38 .71 38 .7 13/20/2002 36 .35 36 .3 53/21/2002 38 .49 38 .4 93/22/2002 37 .62 37 .6 23/25/2002 37 .03 37 .0 33/26/2002 36 .90 36 .9 03/27/2002 37 .52 37 .5 23/28/2002 37 .65 37 .6 54/1/2002 39 .40 39 .404/2/2002 35 .10 35 .104/3/2002 33 .68 33 .6 84/4/2002 33 .13 33 .1 34/5/2002 34 .14 34 .1 44/8/2002 34 .73 34 .7 34/9/2002 33 .43 33 .4 3

4/10/2002 31 .40 31 .4 0

n/c/r/a Page 25 of 46


January 2, 1997 - July 27, 200 6

Date

Closing Price

NotSplit -Adjusted Split-Adjusted

(1) (2)

4/11/2002 S 29.44 S 29.4 44/12/2002 36 .70 36 .7 04/15/2002 36 .74 36 .7 44/16/2002 39 .01 39 .0 14/17/2002 38 .18 38 .1 84/18/2002 39 .43 39 .4 34/19/2002 38 .95 38 .9 54/22/2002 37 .89 37 .8 94/23/2002 36 .10 36 .1 04/24/2002 36 .51 36 .5 14/25/2002 37 .24 37 .2 44/26/2002 35 .50 35 .5 04/29/2002 36 .50 36 .504/30/2002 37 .27 37 .2 7

5/1/2002 37 .13 37 .1 35/2/2002 35 .55 35 .5 55/3/2002 34 .11 34 .1 15/6/2002 32 .46 32 .4 65/7/2002 31 .74 31 .7 45/8/2002 38 .59 38 .5 95/9/2002 36 .90 36 .9 0

5/10/2002 35 .07 35 .0 75/13/2002 35 .55 35 .5 55/14/2002 38 .65 38 .6 55/15/2002 38 .70 38 .7 05/16/2002 38 .09 38 .0 95/17/2002 38 .25 38 .255/20/2002 37 .41 37 .4 15/21/2002 34 .99 34 .9 95/22/2002 34 .59 34 .5 95/23/2002 34.94 34 .945/24/2002 33 .62 33 .625/28/2002 33 .83 33 .8 35/29/2002 33 .26 33 .2 65/30/2002 34 .65 34 .6 55/31/2002 33 .86 33 .8 6

6/3/2002 32 .66 32 .6 66/4/2002 33 .81 33 .8 16/5/2002 33 .28 33 .2 86/6/2002 31 .41 31 .4 16/7/2002 31 .94 31 .9 4

6/10/2002 31 .86 31 .8 66/1 1/2002 30 .25 30 .2 56/12/2002 28 .29 28 .2 96/13/2002 28 .20 28 .2 06/14/2002 27 .79 27 .7 96/17/2002 29 .27 29 .2 76/18/2002 27 .65 27 .6 56/19/2002 27 .29 27 .2 96/20/2002 26 .06 26 .0 66/21 /2002 24 .80 24 .8 06/24/2002 24 .90 24 .9 06/25/2002 24 .35 24 .3 5



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

6/26/2002 $ 23 .47 $ 23 .4 76/27/2002 22 .24 22 .2 46/28/2002 22 .96 22 .9 6

7/1/2002 21 .75 21 .7 57/2/2002 22 .47 22 .4 77/3/2002 24 .23 24 .2 37/5/2002 25 .72 25 .7 27/8/2002 24 .91 24 .9 17/9/2002 23 .96 23 .9 6

7/10/2002 23 .45 23 .457/11 /2002 24 .18 24 .1 87/12/2002 23 .40 23 .407/15/2002 23 .98 23 .9 87/16/2002 25 .40 25 .407/17/2002 23 .90 23 .907/18/2002 23 .60 23 .607/19/2002 24 .20 24 .207/22/2002 24 .07 24 .0 77/23/2002 23 .25 23 .2 57/24/2002 25 .88 25 .8 87/25/2002 23 .61 23 .6 17/26/2002 23 .10 23 .1 07/29/2002 25 .22 25 .2 27/30/2002 26 .50 26 .5 07/31/2002 25 .62 25 .6 2

8/1/2002 24 .55 24.5 58/2/2002 23 .61 23 .6 18/5/2002 21 .06 21 .0 68/6/2002 22 .09 22 .0 98/7/2002 22 .55 22 .5 58/8/2002 23 .50 23 .508/9/2002 23 .72 23 .7 2

8/12/2002 23 .62 23 .628/13/2002 21 .71 21 .7 18/14/2002 23 .14 23 .148/15/2002 24 .15 24 .1 58/16/2002 25 .00 25 .0 08/19/2002 27 .20 27 .2 08/20/2002 26 .33 26 .3 38/21/2002 27 .86 27 .8 68/22/2002 28 .60 28 .6 08/23/2002 27 .02 27 .0 28/26/2002 27 .86 27 .8 68/27/2002 25 .94 25 .9 48/28/2002 24 .50 24 .5 08/29/2002 26 .07 26 .0 78/30/2002 25 .41 25 .4 19/3/2002 24 .85 24 .8 59/4/2002 24 .89 24 .8 99/5/2002 23 .50 23 .5 09/6/2002 24 .22 24 .2 29/9/2002 25 .18 25 .1 8

9/10/2002 24 .98 24 .9 8



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

9/11 /2002 8 24 .94 5 24 .9 49/12/2002 23 .76 23 .7 69/13/2002 23 .75 23 .7 59/16/2002 22 .94 22 .949/17/2002 22 .50 22 .5 09/18/2002 22 .00 22 .0 09/19/2002 20 .61 20 .6 19/20/2002 20 .65 20 .6 59/23/2002 19 .76 19 .7 69/24/2002 19 .36 19 .3 69/25/2002 19 .35 19 .3 59/26/2002 19 .01 19 .0 19/27/2002 18 .07 18 .0 79/30/2002 17 .16 17 .1 610/1 /2002 17 .72 17 .7 210/2/2002 17 .62 17 .6 210/3/2002 17 .06 17 .0 610/4/2002 16 .81 16 .8 110/7/2002 15 .74 15 .7 410/8/2002 15 .93 15 .9 310/9/2002 16 .82 16 .8 2

10/10/2002 19 .06 19 .0610/11 /2002 20 .82 20 .8 210/14/2002 20.72 20 .7 210/15/2002 22 .64 22 .6410/16/2002 21 .33 21 .3 310/17/2002 23 .24 23 .2410/18/2002 24 .15 24 .1 510/21/2002 25 .35 25 .3 510/22/2002 24 .44 24 .4410/23/2002 25 .39 25 .3 910/24/2002 25 .03 25 .0 310/25/2002 25 .69 25 .6 910/28/2002 25 .50 25 .5 010/29/2002 25 .24 25 .2 410/30/2002 26 .38 26 .3 810/31/2002 26 .37 26 .3 7

11/1/2002 27 .74 27 .7 411 /4/2002 29 .07 29 .0 711/5/2002 28 .02 28 .0 211/6/2002 28 .46 28 .4 611 /7/2002 26 .74 26 .7411 /8/2002 26 .49 26 .49

11/11/2002 25 .10 25 .1011/12/2002 26 .34 26 .3411/13/2002 27 .60 27 .6 011/14/2002 29 .72 29 .7 211/15/2002 29 .64 29 .6411/18/2002 29 .41 29 .4 111/19/2002 29 .19 29 .1 911/20/2002 31 .54 31 .5 411/21/2002 33 .90 33 .9 011/22/2002 33 .61 33 .6 1



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

11/25/2002 8 35.50 $ 35.5 011/26/2002 31 .96 31 .9 611/27/2002 33 .54 33 .5 411/29/2002 33 .48 33 .4 8

12/2/2002 32 .61 32 .6 112/3/2002 31 .91 31 .9 112/4/2002 30 .88 30 .8 812/5/2002 30 .55 30 .5 512/6/2002 30 .02 30 .0212/9/2002 28 .81 28 .8 1

12/10/2002 29 .80 29 .8012/11/2002 31 .18 31 .1 812/12/2002 31 .50 31 .5012/13/2002 30 .31 30 .3 112/16/2002 31 .73 31 .7 312/17/2002 31 .51 31 .5 112/18/2002 30 .41 30 .4 112/19/2002 29 .09 29 .0 912/20/2002 30 .18 30 .1 812/23/2002 31 .05 31 .0 512/24/2002 31 .32 31 .3 212/26/2002 31 .00 31 .0 012/27/2002 30 .67 30 .6 712/30/2002 30 .16 30 .1 612/31/2002 29 .65 29 .6 5

1/2/2003 31 .25 31 .2 51/3/2003 31 .41 31 .4 11 /6/2003 33 .08 33 .0 81/7/2003 37 .00 37 .0 01/8/2003 35 .47 35 .471/9/2003 38 .04 38 .04

1/10/2003 37 .83 37 .8 31/13/2003 37 .45 37 .4 51/14/2003 37 .99 37 .9 91/15/2003 37 .78 37 .7 81/16/2003 36 .62 36 .6 21/17/2003 34 .95 34 .9 51/21/2003 34 .81 34 .8 11/22/2003 35 .12 35 .1 21/ 23/2003 36 .93 36 .9 31/24/2003 35 .40 35 .401/27/2003 36 .27 36 .2 71/28/2003 36 .98 36 .9 81/29/2003 37 .25 37 .2 51/30/2003 36 .37 36 .3 71/31/2003 35 .55 35 .5 52/3/2003 35 .84 35 .8 42/4/2003 35 .18 35 .1 82/5/2003 35 .07 35 .0 72/6/2003 33 .83 33 .8 32/7/2003 34 .08 34 .0 8

2/10/2003 34 .23 34 .2 32/11/2003 33 .74 33 .7 4



January 2, 1997 - July 27, 2006

Date

Closing Price


(1) (2)

2/12/2003 S 33 .91 S 33.9 12/13/2003 33 .51 33 .5 12/14/2003 34 .17 34 .1 72/18/2003 35 .45 35 .4 52/19/2003 35 .49 35 .492/20/2003 35 .37 35 .3 72/21/2003 35 .03 35 .0 32/24/2003 34 .48 34 .4 82/25/2003 34 .42 34 .4 22/26/2003 33 .87 33 .8 72/27/2003 32 .13 32 .1 32/28/2003 32 .50 32 .5 0

3/3/2003 31 .51 31 .5 13/4/2003 30 .36 30 .3 63/5/2003 29 .96 29 .9 63/6/2003 31 .47 31 .4 73/7/2003 31 .77 31 .7 7

3/10/2003 30 .84 30 .8 43 /1 1/2003 30 .10 30 .1 03/12/2003 30 .77 30 .7 73/13/2003 33 .00 33 .003/14/2003 32 .56 32 .5 63/17/2003 34 .99 34 .993/18/2003 34 .59 34 .593/19/2003 32 .49 32 .493/20/2003 33 .90 33 .9 03/21/2003 33 .57 33 .5 73/24/2003 31 .60 31 .6 03/25/2003 32 .45 32 .4 53/26/2003 32 .89 32 .8 93/27/2003 32 .51 32 .5 13/28/2003 31 .63 31 .6 33/31/2003 29 .68 29 .6 8

4/1/2003 29 .71 29 .7 14/2/2003 32 .23 32.2 34/3/2003 32 .19 32 .1 94/4/2003 31 .42 31 .424/7/2003 32 .06 32 .064/8/2003 31 .78 31 .7 84/9/2003 30 .85 30 .8 5

4/10/2003 31 .17 31 .1 74/11/2003 31 .96 31 .9 64/14/2003 33 .33 33 .3 34/15/2003 33 .50 33 .5 04/16/2003 33 .78 33 .7 84/17/2003 34 .90 34 .9 04/21/2003 34 .50 34 .5 04/22/2003 35 .96 35 .9 64/23/2003 36 .15 36 .1 54/24/2003 35 .02 35 .0 24/25/2003 33 .75 33 .7 54/28/2003 34 .35 34 .3 54/29/2003 34 .43 34 .4 3



January 2, 1997 - July 27, 2006

Date

Closing Price


(1) (2)

4/30/2003 8 33.94 S 33 .9 45/1/2003 33 .27 33 .2 75/2/2003 34 .20 34 .2 05/5/2003 35 .19 35 .1 95/6/2003 35 .60 35 .6 05/7/2003 35 .13 35 .1 35/8/2003 34.80 34 .8 05/9/2003 35 .75 35 .7 5

5/12/2003 37 .52 37 .5 25/13/2003 36 .80 36 .8 05/14/2003 36 .59 36 .5 95/15/2003 37 .44 37 .4 45/16/2003 37 .32 37 .3 25/19/2003 35 .25 35 .2 55/20/2003 35 .34 35 .3 45/21/2003 35 .56 35 .5 65/22/2003 36 .25 36 .2 55/23/2003 36 .36 36 .3 65/27/2003 37 .87 37 .8 75/28/2003 39 .20 39 .2 05/29/2003 38 .54 38 .5 45/30/2003 39 .31 39 .3 1

6/2/2003 38 .23 38 .2 36/3/2003 39 .73 39 .7 36/4/2003 41 .56 41 .5 66/5/2003 41 .90 41 .906/6/2003 42.26 42 .266/9/2003 40.91 40 .9 1

6/10/2003 42 .53 42 .5 36/ 11 /2003 43 .50 43 .5 06/12/2003 43 .07 43 .0 76/13/2003 41 .00 41 .0 06/16/2003 41 .88 41 .8 86/17/2003 41 .88 41 .8 86/18/2003 43 .07 43 .0 76/19/2003 42 .11 42 .1 16/20/2003 41 .44 41 .4 46/23/2003 39 .64 39 .6 46/24/2003 39 .38 39.3 86/25/2003 39 .20 39 .206/26/2003 39 .94 39 .946/27/2003 39 .09 39 .0 96/30/2003 38 .76 38 .7 6

7/1/2003 40 .12 40 .1 27/2/2003 41 .77 41 .7 77/3/2003 41 .34 41 .3 47/7/2003 40 .89 40 .8 97/8/2003 43 .08 43 .0 87/9/2003 43 .42 43 .4 2

7/10/2003 42 .11 42 .1 17/11/2003 42 .30 42 .3 07/14/2003 44 .45 44 .4 57/15/2003 44 .20 44 .20



January 2, 1997 - July 27, 200 6

Closing Price

DateNot

Split-Adjusted Split-Adjusted

(1) (2)

7/16/2003 $ 43 .84 $ 43.8 47/17/2003 42 .35 42 .3 57/18/2003 41 .08 41 .0 87/21/2003 40 .49 40 .4 97/22/2003 40 .72 40 .7 27/23/2003 40 .87 40 .8 77/24/2003 41 .39 41 .3 97/25/2003 41 .06 41 .0 67/28/2003 41 .16 41 .1 67/29/2003 40 .22 40.2 27/30/2003 39 .78 39 .7 87/31/2003 39 .54 39 .54

8/1/2003 39 .87 39 .8 78/4/2003 39 .58 39 .5 88/5/2003 38 .65 38 .6 58/6/2003 38 .33 38 .3 38/7/2003 37 .98 37 .9 88/8/2003 38 .06 38 .0 6

8/11/2003 38 .68 38 .6 88/12/2003 39 .17 39 .1 78/13/2003 39 .80 39 .8 08/14/2003 39 .81 39 .8 18/15/2003 39 .69 39 .698/18/2003 39 .94 39 .948/19/2003 42 .72 42 .728/20/2003 42 .76 42.768/21/2003 43 .71 43 .7 18/22/2003 42 .64 42 .648/25/2003 42 .89 42 .8 98/26/2003 42 .39 42 .3 98/27/2003 43 .33 43 .3 38/28/2003 43 .75 43 .7 58/29/2003 43 .83 43 .8 39/2/2003 45 .87 45 .8 79/3/2003 48 .05 48 .0 59/4/2003 48 .72 48 .7 29/5/2003 49 .41 49 .4 19/8/2003 49 .36 49 .3 69/9/2003 49 .20 49 .20

9/10/2003 46 .86 46 .8 69/11/2003 47 .44 47 .449/12/2003 48 .16 48 .1 69/15/2003 47 .99 47 .9 99/16/2003 50 .00 50 .0 09/17/2003 49 .95 49 .9 59/18/2003 51 .92 51 .9 29/19/2003 50 .93 50 .9 39/22/2003 49 .20 49 .2 09/23/2003 50 .14 50 .1 49/24/2003 47 .04 47 .0 49/25/2003 46 .19 46 .1 99/26/2003 45 .76 45 .7 69/29/2003 46 .57 46 .5 7



January 2, 1997 - July 27, 200 6

Closing Price

No tDate Split - Adjusted Split-Adjuste d

(1) (2 )

9/30/2003 $ 45.60 $ 45 .6 010/1/2003 47 .60 47 .6 010/2/2003 48 .09 48 .0 910/3/2003 50 .15 50 .1 510/6/2003 49 .98 49 .9 810/7/2003 49 .93 49 .9 310/8/2003 51 .42 51 .4 210/9/2003 50 .00 50 .0 0

10/10/2003 50 .29 50 .2 910/13/2003 50 .89 50 .8 910/14/2003 50 .60 50 .6 010/15/2003 49 .42 49 .4 210/16/2003 49 .77 49 .7 710/17/2003 47 .54 47 .5 410/20/2003 48 .31 48 .3 110/21/2003 50 .54 50 .5 410/22/2003 49.06 49 .0 610/23/2003 43 .84 43 .8 410/24/2003 44 .23 44 .2 310/27/2003 45 .66 45 .6610/28/2003 47 .11 47 .1 110/29/2003 47 .01 47 .0 110/30/2003 47 .00 47 .0010/31 /2003 46 .61 46 .6 1

11/3/2003 48 .76 48 .7 611 /4/2003 48 .01 48 .0 111/5/2003 47 .27 47 .2 711 /6/2003 49 .06 49 .0 611/7/2003 49 .55 49 .5 5

11/10/2003 48 .82 48 .8 211/11/2003 48 .51 48 .5 111/12/2003 49 .58 49 .5 811/13/2003 49 .59 49 .5 911/14/2003 47 .17 47 .1 711/17/2003 46 .56 46 .5 611/18/2003 45 .34 45 .3 411/19/2003 44 .46 44 .4 611/20/2003 44 .05 44 .0 511/21/2003 44 .60 44 .6011/24/2003 46 .88 46 .8 811/25/2003 46 .69 46 .6911/26/2003 47 .62 47 .6 211/28/2003 46 .66 46 .6 6

12/1/2003 48 .36 48 .3 612/2/2003 47 .14 47 .1412/3/2003 46 .64 46 .6 412/4/2003 46 .48 46 .4 812/5/2003 46 .78 46 .7 812/8/2003 47 .04 47 .0 412/9/2003 45 .67 45 .6 7

12/10/2003 46 .18 46 .1 812/11/2003 47 .57 47 .5 712/12/2003 47 .56 47 .5 6



January 2, 1997 - July 27, 200 6

Closing Price

No tDate Split-Adjusted Split-Adjuste d

(1) (2)

12/15/2003 8 46.70 $ 46.7 012/16/2003 46 .58 46 .5 812/17/2003 46 .03 46 .0 312/18/2003 47 .54 47 .5 412/19/2003 47 .40 47 .4 012/22/2003 47 .96 47 .9 612/23/2003 48 .08 48 .0 812/24/2003 48 .19 48 .1 912/26/2003 48 .04 48 .0412/29/2003 48 .97 48 .9 712/30/2003 48 .03 48 .0 312/31 /2003 48 .64 48 .64

1/2/2004 49 .14 49 .141/5/2004 50 .95 50 .9 51/6/2004 50 .73 50 .7 31/7/2004 50 .55 50 .5 51/8/2004 50 .33 50 .3 31/9/2004 50 .19 50 .1 9

1/12/2004 50 .90 50 .9 01/13/2004 49 .63 49 .6 31/14/2004 49 .60 49 .6 01/15/2004 49 .68 49 .6 81/16/2004 51 .70 51 .7 01/20/2004 54 .00 54 .0 01/21/2004 53 .04 53 .041/22/2004 50 .28 50 .2 81/23/2004 49 .85 49 .8 51/26/2004 49 .12 49 .1 21/27/2004 48 .19 48 .1 91/28/2004 47 .48 47 .4 81/29/2004 47 .44 47 .441/30/2004 46 .94 46 .942/2/2004 47 .10 47 .1 02/3/2004 47 .91 47 .9 12/4/2004 47.34 47 .3 42/5/2004 46 .70 46 .7 02/6/2004 48 .00 48 .0 02/9/2004 48 .27 48 .2 7

2/10/2004 48 .41 48 .4 12/1 1/2004 48 .77 48 .7 72/12/2004 48 .19 48 .1 92/13/2004 47 .61 47 .6 12/17/2004 48 .12 48 .1 22/18/2004 50 .10 50 .102/19/2004 48 .61 48 .6 12/20/2004 48 .71 48 .7 12/23/2004 47 .67 47 .6 72/24/2004 47 .35 47 .3 52/25/2004 47 .19 47 .1 92/26/2004 47 .45 47 .4 52/27/2004 48 .54 48 .5 4

3/1/2004 49 .11 49 .1 13/2/2004 46 .83 46 .8 3



January 2, 1997 - July 27, 200 6

Closing Price

NotDate Split - Adjusted Split-Adjuste d

(1) (2 )

3/3/2004 8 46.26 S 46.2 63/4/2004 46 .39 46 .3 93/5/2004 46 .44 46 .4 43/8/2004 44 .75 44 .7 53/9/2004 44 .35 44 .3 5

3/10/2004 43 .49 43 .4 93/11/2004 42 .90 42 .9 03/12/2004 43 .73 43 .7 33/15/2004 41 .85 41 .853/16/2004 42 .38 42 .3 83/17/2004 42 .93 42 .933/18/2004 42 .68 42 .6 83/19/2004 43 .14 43 .143/22/2004 41 .90 41 .903/23/2004 42 .07 42 .0 73/24/2004 42 .46 42 .4 63/25/2004 43.83 43 .8 33/26/2004 43 .97 43.973/29/2004 44 .60 44 .6 03/30/2004 44 .56 44 .5 63/31/2004 44 .80 44 .8 04/1/2004 45 .05 45 .0 54/2/2004 46 .35 46 .3 54/5/2004 46 .84 46 .8 44/6/2004 46 .51 46 .5 14/7/2004 46 .19 46 .1 94/8/2004 46 .45 46 .4 5

4/12/2004 46 .22 46 .2 24/13/2004 45 .49 45 .4 94/14/2004 45 .76 45 .764/15/2004 46 .11 46 .1 14/16/2004 45 .68 45 .6 84/19/2004 45 .69 45 .6 94/20/2004 44 .53 44 .5 34/21/2004 44 .87 44 .8 74/22/2004 45.97 45.974/23/2004 46 .54 46 .5 44/26/2004 46 .45 46 .4 54/27/2004 46 .60 46 .6 04/28/2004 44 .96 44 .9 64/29/2004 44 .01 44 .0 14/30/2004 42 .65 42 .6 55/3/2004 43 .11 43 .1 15/4/2004 44 .07 44 .0 75/5/2004 44 .39 44 .3 95/6/2004 44 .24 44.245/7/2004 43 .96 43 .9 6

5/10/2004 43 .42 43 .4 25/11/2004 44 .68 44 .6 85/12/2004 44 .76 44 .7 65/13/2004 45 .92 45 .9 25/14/2004 44 .60 44 .6 05/17/2004 43 .30 43 .3 0



January 2, 1997 - July 27, 2006

Date

Closing Price


(1) (2)

5/18/2004 44 .31 $ 44.3 15/19/2004 44 .64 44.645/20/2004 44 .71 44 .7 15/21/2004 45 .39 45 .3 95/24/2004 46 .19 46 .1 95/25/2004 47 .04 47 .0 45/26/2004 47 .17 47 .1 75/27/2004 47 .93 47 .9 35/28/2004 47 .83 47 .8 3

6/1/2004 47 .61 47 .6 16/2/2004 47 .45 47 .4 56/3/2004 46 .60 46 .6 06/4/2004 47 .56 47 .5 66/7/2004 49.54 49 .5 46/8/2004 49.04 49 .046/9/2004 48 .57 48 .5 7

6/10/2004 49 .12 49 .1 26/14/2004 48 .50 48 .506/15/2004 48 .49 48 .496/16/2004 48 .16 48 .1 66/17/2004 48 .08 48 .0 86/18/2004 47 .82 47 .8 26/21/2004 48 .37 48 .3 76/22/2004 49 .53 49 .5 36/23/2004 49 .99 49 .9 96/24/2004 50 .44 50 .4 46/25/2004 50 .60 50 .6 06/28/2004 49 .77 49 .7 76/29/2004 49 .85 49 .8 56/30/2004 49 .83 49 .8 3

7/1/2004 49 .02 49 .0 27/2/2004 48 .00 48 .007/6/2004 46 .17 46 .1 77/7/2004 45 .19 45 .1 97/8/2004 43 .31 43 .3 17/9/2004 45 .08 45 .0 8

7/12/2004 44 .51 44 .5 17/13/2004 44 .11 44 .1 17/14/2004 43 .68 43 .6 87/15/2004 43 .14 43 .1 47/16/2004 42 .26 42 .2 67/19/2004 41 .98 41 .9 87/20/2004 42 .73 42 .7 37/21 /2004 37 .93 37 .9 37/22/2004 36 .31 36 .3 17/23/2004 35 .47 35 .477/26/2004 35 .07 35 .0 77/27/2004 35 .23 35 .2 37/28/2004 35 .39 35 .3 97/29/2004 36 .30 36 .3 07/30/2004 36 .56 36 .5 6

8/2/2004 35 .87 35 .8 78/3/2004 34 .30 34 .3 0



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

8/4/2004 8 34 .15 S 34 .1 58/5/2004 34 .10 34 .1 08/6/2004 32 .95 32 .9 58/9/2004 33 .08 33 .0 8

8/10/2004 34 .15 34 .1 58/11/2004 33 .39 33 .3 98/12/2004 33 .05 33 .0 58/13/2004 34 .01 34 .0 18/16/2004 34 .77 34 .7 78/17/2004 35 .31 35 .3 18/18/2004 36 .02 36 .0 28/19/2004 35 .62 35 .6 28/20/2004 36 .28 36 .2 88/23/2004 36 .07 36 .0 78/24/2004 35 .58 35 .5 88/25/2004 36 .03 36 .038/26/2004 35 .70 35 .7 08/27/2004 35 .50 35 .5 08/30/2004 34 .72 34 .7 28/31/2004 34 .51 34 .5 1

9/1/2004 34 .71 34 .7 19/2/2004 35 .09 35 .0 99/3/2004 33 .89 33 .8 99/7/2004 34 .62 34 .6 29/8/2004 33 .07 33 .0 79/9/2004 32 .68 32 .6 8

9/10/2004 35 .14 35 .1 49/13/2004 37 .19 37 .1 99/14/2004 37 .77 37 .7 79/15/2004 36 .71 36 .7 19/16/2004 36 .48 36 .4 89/17/2004 36 .88 36 .8 89/20/2004 36 .72 36 .7 29/21/2004 36 .43 36 .439/22/2004 35 .00 35 .009/23/2004 34 .71 34 .7 19/24/2004 34 .15 34 .1 59/27/2004 33 .84 33 .849/28/2004 32 .36 32 .369/29/2004 34 .31 34 .3 19/30/2004 34 .88 34 .8 810/1/2004 36 .88 36 .8 810/4/2004 38 .24 38 .2410/5/2004 38 .00 38 .0 010/6/2004 39 .19 39 .1 910/7/2004 38 .93 38 .9 310/8/2004 37 .97 37 .9 7

10/11/2004 37 .92 37 .9 210/12/2004 37 .59 37 .5 910/13/2004 37 .97 37 .9 710/14/2004 37 .13 37 .1 310/15/2004 37 .22 37 .2 210/18/2004 38 .69 38 .6 9



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

10/19/2004 8 38.77 5 38 .7 710/20/2004 38 .31 38 .3 110/21/2004 40 .58 40 .5 810/22/2004 40 .18 40 .1 810/25/2004 40 .15 40 .1 510/26/2004 40 .07 40.0 710/27/2004 42 .74 42 .7 410/28/2004 42 .90 42 .9 010/29/2004 43 .43 43 .4 3

11/1/2004 43 .75 43 .7 511/2/2004 44 .24 44 .2 411/3/2004 44 .48 44 .4 811/4/2004 44 .29 44 .2 911 /5/2004 43 .66 43 .6 611 /8/2004 43 .92 43 .9 211/9/2004 43 .05 43 .0 5

11/10/2004 42 .82 42 .8 211/11/2004 43.69 43 .6 911/12/2004 44 .06 44.061 1/15/2004 44 .05 44 .0511/16/2004 43 .32 43 .3 211/17/2004 44.56 44 .5611/18/2004 44 .34 44 .3 411/19/2004 43 .45 43 .4 511 /22/2004 45 .13 45 .1 311/23/2004 45 .63 45 .6 311/24/2004 45 .78 45 .7 811/26/2004 46 .07 46 .0 711/29/2004 45 .60 45 .6 011/30/2004 45 .61 45 .6 1

12/1/2004 45 .50 45 .5 012/2/2004 45 .73 45 .7 312/3/2004 45 .86 45 .8 612/6/2004 46 .91 46 .9 112/7/2004 45 .31 45 .3 112/8/2004 44 .87 44 .8 712/9/2004 45 .12 45 .1 2

12/10/2004 45 .20 45 .2012/13/2004 45 .35 45 .3 512/14/2004 45 .45 45 .4 512/15/2004 45 .61 45 .6 112/16/2004 44 .45 44 .4 512/17/2004 43 .87 43 .8 712/20/2004 43 .71 43 .7 112/21/2004 44 .33 44 .3 312/22/2004 44 .32 44 .3 212/23/2004 44 .01 44 .0 112/27/2004 44 .37 44 .3 712/28/2004 45 .15 45 .1 512/29/2004 45 .36 45 .3 612/30/2004 45 .12 45 .1 212/31/2004 45 .55 45 .5 5

1/3/2005 45 .01 45 .0 1



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

1/4/2005 $ 42 .53 S 42 .5 31/5/2005 42 .62 42 .6 21 /6/2005 41 .47 41 .4 71/7/2005 41 .25 41 .2 5

1/10/2005 40 .76 40 .7 61/11/2005 39 .94 39 .9 41 /1 2/2005 39 .43 39 .4 31/13/2005 39 .56 39 .5 61/14/2005 40 .68 40 .6 81/18/2005 40 .85 40 .8 51/19/2005 39 .66 39 .6 61/20/2005 38 .81 38 .8 11/21/2005 37 .63 37 .6 31/24/2005 42 .17 42 .1 71/25/2005 42 .98 42 .9 81/26/2005 44 .30 44 .3 01/27/2005 44 .31 44 .3 11/28/2005 43 .38 43 .3 81/31/2005 43 .77 43 .7 72/1 /2005 43 .51 43 .5 12/2/2005 44 .20 44 .202/3/2005 48 .94 48 .942/4/2005 48 .52 48 .5 22/7/2005 48 .70 48.702/8/2005 48 .78 48 .7 82/9/2005 47 .35 47 .3 5

2/10/2005 46 .75 46 .7 52/11/2005 47 .06 47 .0 62/14/2005 47 .41 47 .4 12/15/2005 48 .21 48 .2 12/16/2005 47 .82 47 .8 22/17/2005 46 .89 46 .8 92/18/2005 45.84 45 .8 42/22/2005 45 .41 45 .4 12/23/2005 45 .44 45 .4 42/24/2005 45 .97 45 .9 72/25/2005 46.48 46 .4 82/28/2005 45 .88 45 .8 8

3/1/2005 46 .54 46 .543/2/2005 46 .41 46 .4 13/3/2005 45 .88 45 .8 83/4/2005 46 .27 46 .2 73/7/2005 47 .93 47 .9 33/8/2005 47 .31 47 .3 13/9/2005 46 .95 46 .9 5

3/10/2005 46 .87 46 .8 73/11/2005 45 .75 45 .7 53/14/2005 46 .23 46 .2 33/15/2005 44 .85 44 .8 53/16/2005 44 .93 44 .9 33/17/2005 44 .70 44 .7 03/18/2005 45 .39 45 .3 93/21 /2005 45 .22 45 .2 2



January 2, 1997 - July 27, 2006

Date

Closing Price


(1) (2)

3/22/2005 8 45 .71 $ 45.7 13/23/2005 46 .60 46 .6 03/24/2005 46 .71 46 .7 13/28/2005 47 .35 47 .3 53/29/2005 46 .35 46 .3 53/30/2005 47 .89 47 .8 93/31/2005 47 .38 47 .3 8

4/1/2005 46.80 46 .8 04/4/2005 47 .00 47 .004/5/2005 45 .75 45 .7 54/6/2005 45 .28 45 .2 84/7/2005 45 .85 45 .8 54/8/2005 45 .69 45 .69

4/11/2005 45 .80 45 .804/12/2005 46.00 46.004/13/2005 45 .12 45 .1 24/14/2005 43 .71 43 .7 14/15/2005 42 .88 42 .8 84/18/2005 42 .98 42 .9 84/19/2005 43 .40 43 .404/20/2005 43 .31 43 .3 14/21/2005 43 .28 43 .2 84/22/2005 42 .31 42 .3 14/25/2005 43 .24 43 .244/26/2005 42 .47 42 .4 74/27/2005 42 .64 42 .644/28/2005 41 .53 41 .5 34/29/2005 41 .33 41 .3 3

5/2/2005 41 .47 41 .4 75/3/2005 41 .01 41 .0 15/4/2005 41 .40 41 .4 05/5/2005 41 .47 41 .4 75/6/2005 41 .36 41 .3 65/9/2005 42 .00 42 .0 0

5/10/2005 41 .11 41 .1 15/11/2005 41 .62 41 .6 25/12/2005 41 .19 41 .1 95/13/2005 41 .78 41 .7 85/16/2005 42 .18 42 .1 85/17/2005 42 .97 42 .9 75/18/2005 43 .95 43 .9 55/19/2005 44 .50 44 .505/20/2005 44 .89 44 .895/23/2005 45 .39 45 .3 95/24/2005 45 .88 45 .8 85/25/2005 45 .56 45 .5 65/26/2005 45 .64 45 .645/27/2005 45 .38 45 .3 85/31 /2005 45 .12 45 .1 2

6/1/2005 44 .81 44 .8 16/2/2005 43 .96 43 .9 66/3/2005 42 .22 42 .2 26/6/2005 42 .85 42 .8 5



January 2, 1997 - July 27, 200 6

Date

Closing Price

NotSplit-Adjusted Split - Adjusted

(1) (2)

6/7/2005 S 42.86 $ 42 .8 66/8/2005 41 .91 41 .9 16/9/2005 42 .36 42 .3 6

6/10/2005 42 .37 42 .3 76/13/2005 41 .11 41 .1 16/14/2005 40 .03 40.0 36/15/2005 40 .13 40 .1 36/16/2005 39 .62 39 .6 26/17/2005 40 .14 40 .1 46/20/2005 40 .32 40 .3 26/21 /2005 39 .29 39 .2 96/22/2005 39 .46 39 .4 66/23/2005 39 .13 39 .1 36/24/2005 38 .42 38 .4 26/27/2005 38 .81 38 .8 16/28/2005 38 .66 38 .6 66/29/2005 38.50 38 .5 06/30/2005 38.36 38 .3 6

7/1/2005 38 .21 38 .2 17/5/2005 37 .96 37 .9 67/6/2005 37.80 37 .8 07/7/2005 37 .61 37 .6 17/8/2005 37 .50 37 .5 0

7/11/2005 37 .23 37 .2 37 /1 2/2005 37 .70 37 .7 07/13/2005 38 .37 38 .3 77/14/2005 39 .13 39 .1 37/15/2005 38 .80 38 .807/18/2005 38 .08 38 .0 87/19/2005 38 .35 38 .3 57/20/2005 38 .22 38 .227/21/2005 37 .85 37 .8 57/22/2005 38 .03 38 .0 37/25/2005 38 .01 38 .0 17/26/2005 39 .55 39 .5 57/27/2005 40 .26 40 .2 67/28/2005 39 .15 39 .1 57/29/2005 39 .37 39 .3 7

8/1 /2005 38 .83 38 .8 38/2/2005 38 .91 38 .9 18/3/2005 39 .56 39 .5 68/4/2005 38 .98 38 .9 88/5/2005 38 .27 38 .2 78/8/2005 37 .62 37 .6 28/9/2005 37 .89 37 .8 9

8/10/2005 38 .20 38 .2 08/11/2005 38 .91 38 .9 18/12/2005 38 .31 38 .3 18/15/2005 39 .13 39 .1 38/16/2005 37 .92 37 .9 28/17/2005 37 .78 37 .7 88/18/2005 37 .50 37 .5 08/19/2005 37 .43 37 .4 3



January 2, 1997 - July 27, 2006

Closing Price

No tDate Split-Adjusted Split-Adjuste d

(1) (2 )

8/22/2005 $ 36 .65 $ 36.6 58/23/2005 36 .78 36 .7 88/24/2005 37 .00 37 .0 08/25/2005 37 .60 37 .6 08/26/2005 37 .41 37 .4 18/29/2005 36 .94 36 .9 48/30/2005 36 .88 36 .8 88/31/2005 36 .62 36 .6 2

9/1/2005 36 .54 36 .5 49/2/2005 36 .83 36 .8 39/6/2005 37 .19 37 .1 99/7/2005 37 .04 37 .0 49/8/2005 36 .65 36 .6 59/9/2005 37 .65 37 .6 5

9/12/2005 39 .38 39 .3 89/13/2005 38 .33 38 .3 39/14/2005 37 .93 37 .9 39/15/2005 37 .98 37 .9 89/16/2005 38 .59 38 .5 99/19/2005 37 .46 37 .469/20/2005 37 .74 37 .749/21/2005 37 .14 37 .149/22/2005 36 .81 36 .8 19/23/2005 36 .48 36 .4 89/26/2005 35 .91 35 .9 19/27/2005 37 .56 37 .5 69/28/2005 37 .54 37 .549/29/2005 38 .54 38 .549/30/2005 39 .60 39 .6 010/3/2005 37 .50 37 .5 010/4/2005 36 .90 36 .9 010/5/2005 31 .61 31 .6 110/6/2005 30 .76 30 .7 610/7/2005 31 .31 31 .3 1

10/10/2005 31 .01 31 .0 110/11/2005 31 .00 31 .0 010/12/2005 30 .94 30 .9 410/13/2005 30 .64 30 .6 410/14/2005 30 .94 30 .9 410/17/2005 31 .01 31 .0 110/18/2005 31 .11 31 .1 110/19/2005 31 .19 31 .1 910/20/2005 31 .04 31 .0410/21/2005 31 .51 31 .5 110/24/2005 32 .00 32 .0 010/25/2005 31 .37 31 .3 710/26/2005 32 .70 32 .7 010/27/2005 32 .36 32 .3 610/28/2005 33 .68 33 .6 810/31/2005 34 .79 34 .7 9

11/1/2005 35 .00 35 .0 011 /2/2005 25 .66 25 .6 611 /3/2005 27 .00 27 .0 0



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

11/4/2005 S 28 .06 $ 28.0 611 /7/2005 28 .61 28 .6 111 /8/2005 28 .17 28 .1 711 /9/2005 28 .00 28 .0 0

11/10/2005 27 .33 27 .3 311/11/2005 27.88 27.8811/14/2005 27 .86 27 .8 611/15/2005 27 .51 27 .5 111/16/2005 28 .27 28 .2 711/17/2005 28 .01 28 .0 111/18/2005 27 .82 27 .8 211/21/2005 28 .34 28 .3 411/22/2005 28 .33 28 .3 311/23/2005 28 .20 28 .2 011/25/2005 28.25 28 .2511/28/2005 27 .30 27 .3 011/29/2005 27 .57 27 .5 711/30/2005 27.80 27 .80

12/1/2005 28 .25 28 .2 512/2/2005 28 .57 28 .5 712/5/2005 29 .05 29 .0512/6/2005 28 .93 28 .9312/7/2005 29 .54 29 .5412/8/2005 29 .49 29 .4912/9/2005 29 .78 29 .7 8

12/12/2005 30 .80 30 .8012/13/2005 31 .90 31 .9012/14/2005 31 .60 31 .6 012/15/2005 31 .80 31 .8 012/16/2005 32 .49 32 .4 912/19/2005 31 .43 31 .4 312/20/2005 30 .92 30 .9 212/21 /2005 31 .45 31 .4 512/22/2005 31 .92 31 .9 212/23/2005 31 .36 31 .3 612/27/2005 28 .99 28 .9 912/28/2005 28 .47 28 .4 712/29/2005 27 .64 27 .6 412/30/2005 27.79 27.79

1/3/2006 27 .88 27 .8 81/4/2006 27 .57 27 .5 71/5/2006 28 .95 28 .9 51/6/2006 30 .46 30 .4 61/9/2006 31 .51 31 .5 1

1/10/2006 31 .29 31 .291/11/2006 34 .50 34 .501/12/2006 35 .01 35 .0 11/13/2006 34 .20 34 .2 01/17/2006 33 .43 33 .4 31/18/2006 32 .98 32 .9 81/19/2006 33 .99 33 .9 91/20/2006 32 .50 32 .5 01/23/2006 33 .00 33 .0 0



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

1/24/2006 8 32.82 $ 32.8 21/25/2006 32 .52 32 .5 21/26/2006 34 .78 34 .7 81/27/2006 35 .57 35 .5 71/30/2006 35 .39 35 .3 91/31/2006 34 .75 34 .7 5

2/1/2006 35 .10 35 .1 02/2/2006 34 .39 34 .3 92/3/2006 33 .70 33 .7 02/6/2006 32 .69 32 .6 92/7/2006 32 .65 32 .6 52/8/2006 32 .95 32 .9 52/9/2006 32 .70 32 .7 0

2/10/2006 34 .40 34 .4 02/13/2006 34 .96 34 .9 62/14/2006 34 .85 34 .8 52/15/2006 34.68 34 .6 82/16/2006 34.20 34 .2 02/17/2006 34 .30 34 .3 02/21/2006 34 .30 34 .3 02/22/2006 34 .90 34 .9 02/23/2006 34 .62 34 .6 22/24/2006 35 .34 35 .342/27/2006 35 .20 35 .202/28/2006 35 .50 35 .503/1/2006 36 .64 36 .643/2/2006 36 .94 36 .943/3/2006 37 .05 37 .0 53/6/2006 36 .98 36 .9 83/7/2006 36 .90 36 .903/8/2006 36 .58 36 .5 83/9/2006 36 .87 36 .8 7

3/10/2006 36 .05 36 .0 53 /1 3/2006 35 .60 35 .6 03/14/2006 35 .25 35 .2 53/15/2006 35 .80 35 .8 03/16/2006 35 .85 35 .8 53/17/2006 36 .45 36 .4 53/20/2006 36 .12 36 .1 23/21/2006 36 .90 36 .9 03/22/2006 36 .60 36 .6 03/23/2006 35 .55 35 .5 53/24/2006 34 .80 34 .803/27/2006 34 .00 34 .003/28/2006 33 .40 33 .403/29/2006 32 .90 32 .903/30/2006 34 .34 34 .343/31/2006 34 .80 34 .80

4/3/2006 34 .95 34 .9 54/4/2006 35 .15 35 .1 54/5/2006 35 .70 35 .7 04/6/2006 36 .75 36 .7 54/7/2006 36 .85 36 .8 5



January 2, 1997 - July 27, 200 6

Date

Closing Price


(1) (2)

4/10/2006 $ 36.30 S 36 .3 04/11/2006 36 .00 36 .0 04/12/2006 35 .85 35 .8 54/13/2006 35 .55 35 .5 54/17/2006 36 .00 36 .0 04/18/2006 37 .30 37 .3 04/19/2006 37 .27 37 .2 74/20/2006 36 .87 36 .8 74/21/2006 37 .00 37 .0 04/24/2006 36 .75 36 .7 54/25/2006 36 .05 36 .0 54/26/2006 35 .95 35 .9 54/27/2006 35 .55 35 .5 54/28/2006 36 .00 36 .0 0

5/1/2006 36 .80 36 .8 05/2/2006 37 .30 37 .3 05/3/2006 37 .42 37 .4 25/4/2006 37 .40 37 .4 05/5/2006 36 .53 36 .5 35/8/2006 36 .55 36 .5 55/9/2006 37 .21 37 .2 1

5 /1 0/2006 37 .18 37 .1 85/11/2006 36 .68 36 .6 85/12/2006 35 .60 35 .6 05/15/2006 34 .26 34 .2 65/16/2006 33 .60 33 .6 05/17/2006 33 .75 33 .7 55/18/2006 34 .30 34 .3 05/19/2006 34 .30 34 .3 05/22/2006 33 .80 33 .8 05/23/2006 34 .10 34 .1 05/24/2006 33 .79 33 .7 95/25/2006 34 .35 34 .3 55/26/2006 35 .50 35 .5 05/30/2006 35 .16 35 .1 65/31/2006 35 .40 35 .40

6/1/2006 35 .70 35 .7 06/2/2006 36 .80 36 .8 06/5/2006 35 .39 35 .3 96/6/2006 36 .39 36 .3 96/7/2006 36 .89 36 .8 96/8/2006 36 .98 36 .9 86/9/2006 36 .25 36 .2 5

6/12/2006 35 .09 35 .0 96/13/2006 33 .40 33 .406/14/2006 34 .75 34 .7 56/15/2006 35 .92 35 .9 26/16/2006 35 .90 35 .9 06/19/2006 35 .11 35 .1 16/20/2006 34 .30 34 .3 06/21/2006 35 .10 35 .1 06/22/2006 35 .55 35 .5 56/23/2006 35 .45 35 .45



January 2, 1997 -July 27, 200 6

Closing Price


(1) (2)

6/26/2006 8 35 .32 $ 35.3 26/27/2006 35 .45 35 .4 56/28/2006 34 .90 34 .9 06/29/2006 35 .14 35 .1 46/30/2006 34 .97 34 .9 7

7/3/2006 35 .60 35 .6 07/5/2006 36 .95 36 .9 57/6/2006 37 .40 37 .4 07/7/2006 37 .51 37 .5 1

7/10/2006 38 .45 38 .4 57/11/2006 38 .55 38 .5 57/12/2006 38 .20 38 .2 07/13/2006 37 .00 37 .007/14/2006 37 .85 37 .8 57/17/2006 37 .84 37 .8 47/18/2006 37 .90 37 .9 07/19/2006 37 .95 37 .9 57/20/2006 37 .65 37 .6 57/21/2006 37 .74 37 .747/24/2006 38 .67 38 .6 77/25/2006 39 .00 39 .0 07/26/2006 49 .75 49.7 57/27/2006 50 .19 50 .1 9

Notes and SourcesData are obtained from FactSet Research System s


Adam Sand Declaratio nExhibit 4

5 of 7 DOCUMENT S

Copyright 2000 PR Newswire Association, Inc .

PR Newswire

October 17, 2000, Tuesday

SECTION : FINANCIAL NEW S

DISTRIBUTION : TO BUSINESS AND TECHNOLOGY EDITORS

LENGTH: 1576 words

HEADLINE : Mercury Interactive Reports Record Third Quarter Results ;Revenue Grows 67 Percent, Net Income Increases 105 Percen t

DATELINE : SUNNYVALE, Calif., Oct . 1 7

BODY :

Mercury Interactive Corporation (Nasdaq: MERQ), the leading provider of web performancemanagement solutions, today reported results for the third quarter ended September 30, 2000.

Revenues for the third quarter of 2000 were $79 .5 million, an increase of 67 percent, over the$47.5 million reported in the third quarter of 1999 . Net income was $16 .7 million, an increase of105 percent compared to net income of $8 .1 million in the third quarter of 1999 . Earnings perdiluted share increased to $0 .18, up 100 percent from $0 .09 for the third quarter of 1999 .

For the nine months ended September 30, 2000, revenues were $209 .5 million, a 64 percentincrease over revenues of $127 .6 million for the same period in 1999 . Net income in this periodrose 96 percent to $38 .9 million and diluted earnings per share increased to $0 .42, up from $0 .23a year ago .

"Our record third quarter results, the best in the history of the company, were driven by strongdemand for all of Mercury Interactive's offerings, with rapid growth in our applicationperformance monitoring and hosted e-services business," said Amnon Landan, chairman, CEOand president of Mercury Interactive. "The strength in our business shows that performancemanagement solutions are becoming an indispensable component for companies deploying andmaintaining complex, business critical web-based applications . "

During the third quarter, Mercury Interactive introduced enhanced versions of TopazActiveWatch service with "Points of Presence (Pops) on Demand" technology allowing e-businesses to monitor end user experience from any of over 500 locations and root cause analysiswhich can correlate the cause of performance or availability problems to its source in network

segments, Web servers, application servers or computing resources . Also during the thirdquarter, the company announced both testing and monitoring solutions for WAP and iMode-based wireless applications in partnership with Nokia, Phone .com, AvantGo, Brience, Everypathand others . Recently, the company announced Topaz Prism which simplifies Web site

monitoring while providing in-depth information about performance problems by capturing andanalyzing every request made to a Web server from all users, from all locations, all the time .

Mercury Interactive (www .mercuryinteractive .com) is the leading provider of Webperformance management solutions that help e-businesses deliver a positive user experience .Mercury Interactive solutions enable its customers to turn Web application performance,

scalability and user experience into competitive advantage . The company's performancemanagement products and hosted services are open and integrated to best test and monitorbusiness- critical Web applications .

More than 10,000 business to business and business to consumer e- businesses, Internet

Service Providers, Application Service Providers, systems integrators, consultants and othercustomers use Mercury Interactive solutions .

Mercury Interactive is headquartered in Sunnyvale, California and has 40 offices worldwide .The company's common stock trades on the Nasdaq National Market tier of The Nasdaq StockMarket under the symbol MERQ .

The comments above regarding the company's product and service offerings are forward-looking statements and are subject to risks and uncertainties which could cause actual results todiffer materially from those anticipated . These factors include the company's ability to

successfully introduce and sell new products and new versions of existing products, increaseinternational sales as well as increase sales of its WinRunner, LoadRunner and TestDirectorproducts for e-business, packaged applications and client/server testing ; Astra QuickTest, AstraLoadTest for e-business testing ; Topaz and Topaz Prism for monitoring application performance ;and ActiveTest and ActiveWatch for hosted testing and monitoring . In addition, the company's

success depends in significant part upon the continued service of its key management, sales andtechnical personnel . Mercury Interactive's operating results are subject to a variety of risksspecific to the company or characteristic of the software industry, including increasedcompetition, rapid technological change and an absence of significant order backlog . Inparticular, the company has historically received a substantial portion of its orders at the end ofthe quarter and if an order shortfall occurs at the end of a quarter, the company's operating resultsfor that quarter could be materially and adversely affected . The company undertakes noobligation to update forward-looking statements to reflect events or circumstances after the datehereof. For a discussion of these and other related risks please refer to the company's SECreports, including the Form 10-K for the year ended December 31, 1999 and the Form 10-Q forthe quarter ended June 30, 2000 .

Tables Attached : Condensed Consolidated Statements of Operations, CondensedConsolidated Balance Sheets

WinRunner, LoadRunner, TestDirector and Astra are registered trademarks and QuickTest,Topaz, Topaz Prism, ActiveWatch and ActiveTest are trademarks of Mercury Interactive

Corporation, Sunnyvale, California . Product and company names are used herein foridentification purposes only, and may be trademarks of their respective companies .

MERCURY INTERACTIVE CORPORATIO N

CONDENSED CONSOLIDATED STATEMENTS OF OPERATION S(in thousands, except per share data)

(unaudited )

Three months ended Nine months endedSeptember 30, September 30 ,

2000 1999 2000 1999Revenue :

License $54,200 $33,500 $144,700 $87,400Service 25,300 14,000 64,800 40,200Total revenue 79,500 47,500 209,500 127,600

Cost of revenue :License 5,152 2,040 11,788 5,546Service 6,942 4,548 17,480 12,42 1

Total cost o frevenue 12 ,094 6,588 29,268 17,967

Gross profit 67,406 40,912 180,232 109,63 3Operating expenses :

Research anddevelopment , net 8 ,132 6,554 23,692 17,656

Marketing and selling 38,995 22,275 106,867 62,266General an dadministrative 4,766 3,182 12,223 8,469Total operatingexpenses 51,893 32,011 142,782 88,39 1

Income from operations 15,513 8,901 37,450 21,242Other income , net 5,332 1,542 11,168 4,101Income before provisionfor income taxes 20 ,845 10,443 48,618 25,343Provision for incometaxes 4,169 2,297 9,724 5,535

Net income $16,676 $8, 146 $38,894 $19,808Net income per share(basic) $0.21 $0 .11 $0.49 $0.26

Net income per share(diluted) $0.18 $0.09 $0 .42 $0 .23

Weighted average commo nshares (bas ic) 80,263 76,796 79,571 75,541

Weighted average commonshares and equivalent s(diluted) 92,533 85,920 91,674 84,345

MERCURY INTERACTIVE CORPORATIONCONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands )

September 30, December 31,

2000 1999(unaudited) (audited)

ASSETS

Current assets :Cash and short-term investmentsTrade accounts receivable, net

Other receivable sPrepaid expenses and other assets

$617,321 $171,32747,129 40,399

12,505 6,32518,987 16,702

Total current asset s

Long-term investmentsProperty and equipment, netOther assets, net

695,942 234,753

155,130 15,55559,377 46,91 0

13,968 --$924,417 $297,21 8

LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities :

Accounts payable $10,111 $8,469Accrued liabilities 55,579 33,433Income taxes payable 28,070 19,945Deferred revenue 68,653 35,840Total current liabilities 162,413 97,687

Convertible subordinated notes 500,000Total liabilities 662,413 97,687

Stockholders' equity :

Common stock 162 156Capital in excess of par value 173,707 148,826Notes receivable from issuance of stock (6,408) (5,090)Accumulated other comprehensive loss (1,232) (1,242)Retained earnings 95,775 56,88 1Total stockholders' equity 262,004 199,531

$924,417 $297,21 8

SOURCE Mercury Interactive Corporatio n

CONTACT: investor relations, Anne Marie McCauley, 408-822-5359, or public relations, SueAnn Murray, 408-822-5290, both of Mercury Interactive Corporatio n

URL: http ://www.pmewswire .com

LOAD -DATE : October 18, 2000

Adam Saud LoclarationExhibit 5

Press Releas e

Mercury Interactive Reports Record Fourth Quarter and 2000 Result s

Announces Fourth Quarter Revenue of $97 .5 million and EPS of $0 .28

Sunnyvale, CA - January 17, 2001 - Mercury Interactive Corporation (Nasdaq : MERQ), the leading provider of Web performance management solutions, today reported results forthe fourth quarter and year ended December 31, 2000 .

Revenue for the fourth quarter of 2000 was $97.5 million, an increase of 62 percent, over the $60 .1 million reported in the fourth quarter of 1999 . Net income of $25 .8 million, or $0.28per diluted share represents growth of 73 percent and 65 percent, respectively, compared to a pro forma net income of $14 .9 million, or $0 .17 per diluted share for the same period in1999 . The pro forma net income excludes the Conduct Ltd . merger related expenses of $2 .0 million in the fourth quarter of 1999 .

For the year ended December 31, 2000, revenue was $307.0 million, a 64 percent increase over revenue of $187 .7 million in 1999 . Net income of $64 .7 million, or $0 .70 per dilutedshare represents growth of 86 percent and 71 percent, respectively, compared to a pro forma net income of $34 .7 million, or $0 .41 per diluted share in 1999 .

"Mercury Interactive's record fourth quarter results top another outstanding year of accelerated growth," said Amnon Landan, chairman, CEO and president of Mercury Interactive ."Our dominance in the testing market, coupled with the rapid growth in our application performance management and hosted services businesses, makes Mercury Interactiveuniquely positioned to address the internet infrastructure and application performance challenges faced by Global 2000 corporations . "

During the fou rth qua rt er , Mercu ry Interactive announced both testing and monitoring solutions for streaming media applications in pa rt nership with RealNetworks and Microsoft. Inaddition, Akamai agreed to resell Mercu ry Interactive's hosted testing and monitoring services, extending its existing pa rt nership. Also, the company announced that it had pe rf ormedover 1,000 hosted load tests using ActiveTest , delivering on average over 400% improvement in Web site pe rformance .

Mercury Interactive ( www_mercuryintera(Itive .cQm) is the leading provider of Web pe rf ormance management solutions that help businesses deliver a positive user experience,Mercury Interactive solutions enable its customers to turn Web application pe rformance , scalability and user experience into competitive advantage . The company' s pe rf ormancemanagement products and hosted se rvices are open and integrated to best test and monitor business-critical Web applications .

Mercury Interactive is headqua rt ered in Sunnyvale , California and has more than 40 offices worldwide . The company' s common stock trades on the Nasdaq National Market tier ofThe Nasdaq Stock Market under the symbol MERQ.

The comments above regarding the company's financial and competitive outlook are forward looking statements and are subject to risks and uncertainties which could cause actualresults to differ materially from those anticipated. These factors include the company's ability to successfully introduce and sell new products and services and new versions ofexisting products and services, increase international sales as well as increase sales of its existing products and services . In addition, the company's success depends in significantpart upon the continued service of its key management, sales and technical personnel . Mercury Interactive's operating results are subject to a variety of risks specific to the companyor characteristic of the software industry, including the impact of economic conditions on its customers, increased competition, rapid technological change and an absence ofsignificant order backlog . In particular, the company has historically received a substantial portion of its orders at the end of the quarter and if an order shortfall occurs at the end of aquarter, the company's operating results for that quarter could be materially and adversely affected . The company undertakes no obligation to update forward-looking statements toreflect events or circumstances after the date hereof . For a discussion of these and other related risks please refer to the company's SEC reports, including the Form 10-K for theyear ended December 31, 1999 and the Form 10-Q for the quarter ended September 30, 2000 .

WinRunner, LoadRunner, TestDirector and Astra are registered trademarks and QuickTest, Topaz, ActiveWatch and ActiveTest are trademarks of Mercury Interactive Corporation,Sunnyvale, California. Product and company names are used herein for identification purposes only, and may be trademarks of their respective companies .

MERCURY INTERACTIVE CORPORATIO NCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except per share data)

Three months ended Twelve months endedDecember 31, December 31 ,

(unaudited) ( audited )

2000 1999 2000 199 9Revenue :

License $ 71,400 $ 43,500 $ 216,100 $ 130,90 0Service 26 , 100 16,600 90 , 900 56,80 0Total revenue 97,500 60,100 307,000 187,70 0

Cost of revenue :

License 5,350 2,190 17 , 138 7,73 6Service 7,199 4,536 24,679 16,95 7Total cost of revenue 12 , 549 6,726 41 , 817 24,69 3

84,951 53,374 265,183 163,00 7

e, n S C,Research and development , net 8,350 5,828 32,042 23,48 4Marketing and selling 45,030 27,608 151,897 89,67 4General and administrative 5,608 3,193 17 , 831 11,662

Merger related expenses --- 2,000 --- 2,00 0Total operating expenses 58,988 38,629 201,770 127,02 0

25,963 14,745 63,413 35,98 76,294 1,925 17 , 462 6,02 6

nc 32,257 16, 670 80,875 42,01 36,451 3,334 16,175 8,86 9

$ 25,806 $ 13,336 $ 64,700 $ 33,14 4$0 .32 $0 .17 $0 .81 $0 .4 4

i $0 .28 $0 .15 $0 .70 $0 .3 9

shar rr3air 80,996 77,824 79,927 76,11 2irnr,i 92,728 87,794 91,938 85,20 8

MERCURY INTERACTIVE CORPORATIO NCONDENSED CONSOLIDATED BALANCE SHEET S(in thousands )(audited)

December 31, December 31 ,2000 199 9

A S TSCurrent assets :

Cash and short- term investments $ 628,743 $ 171,327Trade accounts receivable 62,989 40,39 9Other receivables 13,233 6,32 5Prepaid expenses and other current assets 18,976 16,70 2Total current assets 723,941 234,75 3

Long-term investrnents 153,623 15,55 5Property and equipment, net 82,895 46,91 0Other Assets 13,576 ---

$974,035 $297,21 8

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities :

Accounts payable $ 12,931 $ 8,46 9Accrued liabilities 58,942 33,43 3Income taxes payable 34,262 19,94 5Deferred revenue 77,673 35,84 0Total current liabilities 183,808 97,68 7

Ronvertibie subordinated notes 500, 000 ---Totallibilities 683 ,808 97,68 7

Stockholders' quity :Common stock 162 156Capital in excess of par value 177,427 148,826Notes receivable from issuance of stock ( 7,528) (5,090 )Accumulated other comprehensive loss (1,415) ( 1,242 )Retained earnings 121,581 56,88 1Total stockholders ' equity 290,227 199,53 1

$ 974,035 $ 297,21 8

Investor Relations ContactsAnne Marie McCauleyMercury Interactive(408) 822-5359

Public Relations ContactsSue Ann MurrayMercury Interactive(408) 822-5290

© 2006, Mercury Interactive Corporation

A, -u

Actam Satia

Exhibit 6

Press Releas e

Mercury Interactive Reports Strong First Quarter Results

Revenue Grows 50 Percent, Net Income Increases 65 Percen t

Sunnyvale, CA - April 11, 2001 - Mercury Interactive Corporation (Nasdaq : MERQ), the leader in enterprise testing and performance management solutions, today reported resultsfor the first quarter ended March 31, 2001 .

Revenue for the first quarter of 2001 was $90 .7 million, an increase of 50 percent over the $60 .4 million reported in the first quarter of 2000 . Net income was $16.1 million, anincrease of 65 percent compared to net income of $9 .8 million in the first quarter of 2000 . Earnings per diluted share increased to $0 .18, up 64 percent from $0 .11 for the first quarterof 2000 .

"Mercury Interactive's strong first quarter results, despite a difficult economic environment, demonstrate the value of our testing and performance management solutions and theviability of our business model," said Amnon Landan, chairman, CEO and president of Mercury Interactive . "As companies focus on maximizing the return from their IT investments,they are selecting our products and services to optimize their infrastructure, minimize capital and operational expenses and deliver reliable, high performance applications ."

During the first quarter, Mercury Interactive announced version 7 .0 of its flagship load and functional testing products, LoadRunner and WinRunner, with enhanced ease-of-use,additional transaction breakdown capabilities and Enterprise Java Bean support . Additionally, the company's customer support organization received awards during the quarter forboth consistently excellent customer services and innovative, superior web-based support .

Mercury Interactive (www .mercuryinteractive .cpm) is the leading provider of enterprise testing and application performance management solutions that help businesses deliver apositive user experience . Mercury Interactive solutions enable its customers to turn application performance, scalabitity and user experience into competitive advantage . TheCompany's performance management products and hosted services are open and integrated to best test and monitor enterprise applications .

Mercury Interactive is headquartered in Sunnyvale, California and has more than 40 offices worldwide . The company's common stock trades on the Nasdaq National Market underthe symbol MERQ .

The statements concerning Mercury Interactive's future business prospects contained in this press release are "forward-looking statements" under the Private Securities LitigationReform Act of 1995 . Numerous important factors affect Mercury Interactive's operating results and could cause Mercury Interactive's actual results to differ materially from forecastsand estimates or from any other forward-looking statements made by, or on behalf of, Mercury Interactive, and there can be no assurance that future results will meet expectations,estimates or projections . These factors include, but are not limited to, the following : 1) a weakening of economic factors may affect the overall demand for software and serviceswhich could result in decreased revenues or lower revenue growth rates ; 2) Mercury Interactive's financial growth depends on the continued success and acceptance of its existingand new software products and services and the ability to increase international sales ; 3) competition for Mercury Interactive's products and services is intense ; 4) Mercury Interactivehas historically received a substantial portion of its orders at the end of the quarter and if an order shortfall occurs at the end of a quarter it could negatively impact the company'soperating results for that quarter; and 5) the additional risks and important factors described in Mercury Interactive's SEC reports, including the Annual Report to Stockholders onForm 10-K for the fiscal year ended December 31, 2000 and other filings with the SEC . Mercury Interactive undertakes no obligation to update information contained in this release toreflect events or circumstances after the date hereof .

MERCURY INTERACTIVE CORPORATIO NCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except per share data)

Three months endedMarch 31 ,

(unaudited )

2001 2000flovenue :

License $ 61,200 $ 42,000Service 29 , 500 18,400Total revenue 90,700 60,400

Cost of revenue :License 6,159 2,90 6Service 7,597 4,82 8Total cost of revenue 13,756 7,73 4

Gross profit 76, 944 52,66 6

0oeratu q expenses

Research and development , net 9,309 7,10 0Marketing and selling 47 , 716 32,53 8General and administrative 5,017 3,39 7Total operating expenses 62,042 43,03 5

rt=';orne opei'alions 14,902 9,63 11)11' " " .' n-• 5,284 2,60 8inci vi for k)r i ncor , . xe s 20,186 12,23 9pre, IXs,s 4,037 2,448

$ 16,149 $ 9,791

Nei income, pev fi< re :`basic) $ 0.20 $ 0.12e in' ome hare (dr u te<xi $ 0.18 $ 0.1 1

li' .qht Basic) 81,408 78,943fe: ghteda~ e to d 90,941 91,208

MERCURY INTERACTIVE CORPORATIONCONDENSED CONSOLIDATED BALANCE SHEETS(in thousands)

March 31, December31 ,2001 200 0

(unaudited) (audited)

Current asset s

Cash and short-term investments $ 636,781 $ 628,74 3Trade accounts receivable 56,803 62,98 9Other receivables 12,379 13,23 3Prepaid expenses and other current assets 21 ,945 21,31 6Total current assets 727,908 726,28 1

Long term investments 160,642 153,62 3Property and equipment, net 86,958 82,89 5Other assets. not 18,055 13,57 6

$993,563 $976,37 5

L IABBILITI[S AND STOCKHOLDERS' EQUITYCutrr",nt l iabilities :

Accounts payable $ 11,768 $ 12,93 1Accrued liabilities 42,994 58,94 2Income taxes payable 26,869 23,79 7Deferred revenue 82,102 77,67 3Total current liabilities 163,733 173,343

Convertible subordinates notes : 500,000 500,000Total liabilities 663,733 673,343

Stockholders' equity :Common stock 163 162Capital in excess of par value 200 , 200 190,232Notes receivable from issuance of stock ( 7,276) (7,528 )Accumulated comprehensive loss (987) ( 1,415 )Retained earnings 137,730 121,581Total stockholders ' equity 329,830 303,032

$ 993,563 $ 976,375

Investor Relations ContactsAnne Made McCauley408.822 .5359

Sue Ann Murray408.822 .5290


? ,~; p--- l aye

Press Releas e

Mercury Interactive Reports Record Second Quarter Results

Announces Revenue of $96 .0 million and Pro Forma EPS of $0 .1 8

Sunnyvale, Calif . - July 18, 2001 - Mercury Interactive Corporation (Nasdaq : MERQ), the leader in enterprise testing and performance managementsolutions, today reported results forthe second quarter ended June 30, 2001 .

Revenue for the second quarter of 2001 was $96 .0 million, an increase of 38 percent over the $69 .6 million reported in the second quarter of 2000 . Pro formanet income, excluding acquisition-related expenses for Freshwater Software, was $16 .2 million . This represents an increase of 30 percent compared to netincome of $12 .4 million in the second quarter of 2000 . Pro forma diluted earnings per share increased to $0 .18, up 29 percent from $0.14 for the secondquarter of 2000 .

For the six months ended June 30, 2001, revenue was $186 .7 million, a 44 percent increase over revenues of $130 .0 million for the same period in 2000 . Proforma net income in this period rose 45 percent to $32 .3 million and pro forma diluted earnings per share increased to $0 .35, up 46 percent from $0.24 a yearago .

"I am very pleased with our second quarter results, especially in a very tough worldwide economic environment," said Amnon Landan, chairman, CEO andpresident of Mercury Interactive . "These results reflect our strong leadership position, industry leading solutions and a large, loyal customer base ."

For the second quarter, net income was $9 .3 million or $0.10 diluted earnings per share . This includes amortization of goodwill and other intangible assets of$5 .3 million, amortization of unearned stock-based compensation of $0 .6 million and restructuring and integration charges of $0.9 million associated with theFreshwater Software acquisition . Net income for the six months ended June 30, 2001 was of $25 .5 million, or $0 .28 diluted earnings per share .

During the second quarter, Mercury Interactive expanded both its testing and performance management offerings . With the acquisition of FreshwaterSoftware in late May, the company broadened its presence in the application performance management market with solutions for managing network servicesand data center operations . Also during the quarter, Mercury Interactive unveiled new solutions in its Topaz product suite including: Topaz Observer, TopazRent-a-Pop and Topaz Weathermap . In addition, the company recently expanded its hosted service offerings with ActiveTest Secure-Check, the industry'sfirst service to test security features and infrastructure components under load .

Mercury Interactive (www merrn inlerartive com ) is the leading provider of enterprise testing and performance management solutions . The company'sautomated software and managed services help companies deliver and maintain high-performance applications . Customers worldwide use MercuryInteractive solutions across their application and technology infrastructures to minimize hardware and operational expenses, protect revenue streams andenhance their competitive positions.

Mercury Interactive is headquartered in Sunnyvale, California and has more than 40 offices worldwide . The company's common stock trades on the NasdaqNational Market under the symbol MERQ .

The statements concerning Mercury Interactive's future business prospects and new product and service offerings contained in this press release are"forward-looking statements" under the Private Securities Litigation Reform Act of 1995 . Numerous important factors affect Mercury Interactive's operatingresults and could cause Mercury Interactive's actual results to differ materially from forecasts and estimates or from any other forward-looking statementsmade by, or on behalf of, Mercury Interactive . These factors include, but are not limited to, the following : 1) the effect of continued weakening of economicfactors on the overall demand for software and services which could result in decreased revenues or lower revenue growth rates and increased uncertaintyas to our expected revenues in future periods ; 2) uncertainties related to the integration of the Freshwater Software products and services, employees andoperations ; 3) the dependence of Mercury Interactive's financial growth on the continued success and acceptance of its existing and new software productsand services and the ability to increase international sales ; 4) intense competition for Mercury Interactive's products and services ; 5) Mercury Interactive hashistorically received a substantial portion of its orders at the end of the quarter and if an order shortfall occurs at the end of a quarter it could negativelyimpact the company's operating results for that quarter; and 6) the additional risks and important factors described in Mercury Interactive's SEC reports,including the Annual Report to Stockholders on Form 10-K for the fiscal year ended December 31, 2000 and other filings with the SEC . Asa result, there canbe no assurance that future results will meet expectations estimates or projections .

Editors NoteTables Attached: Pro Forma Condensed Consolidated Statements of Operations, Condensed Consolidated Statements of Operations, CondensedConsolidated Balance Sheets

WinRunner, LoadRunner, TestDirector and Astra and Freshwater Software are registered trademarks and QuickTest, Topaz,ActiveWatch and ActiveTest are trademarks of Mercury Interactive Corporation, Sunnyvale, California . Product and company names areused herein for identification purposes only, and may be trademarks of their respective companies .

Mercury Interactiv e1325 Borregas Avenue, Sunnyvale, CA 94089Tel : (408) 822-520 0Fax : (408) 822-5300

MERCURY INTERACTIVE CORPORATIO NPRO FORMA CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except per share data)(unaudited)

Three months ended Six months ende dJune 30, June 30 ,

2001 2000 2001 200 0Revenue :

License $ 66 , 100 $ 48,500 $ 127,300 $ 90,50 0Service 29,900 21,100 59 , 400 39,50 0

Total revenue 96,000 69,600 186,700 130,00 0Cost of re;v< n ie :

License 5,868 3,730 12,027 6,63 6Service 8,119 5,710 15,716 10,53 8

Total cost of revenue 13 , 987 9,440 27 ,743 17,17 482,013 60,160 158,957 112,82 6

Research and development , net 9,487 8,460 18,796 15,56 0Marketing and selling 49,116 35,334 96,832 67,87 2General and administrative 6,101 4 , 060 11,118 7,457

Total operating expenses 64,704 47,854 126,746 90,889Income from operations 17,309 12,306 32 , 211 21,937O€herincome . net 2 , 895 3,228 8,179 5,836Income, before provision f r IN '5 20,204 15,534 40,390 27,773Rravision for income taxe 4,041 3,107 8,078 5,555

IN- ,, $ 16,163 $ 12,427 $ 32,312 $ 22,21 8N ,t i me per share (basic) $ 0 .20 $ 0 .16 $ 0 .39 $ 0 .2 8Net income per share (diluted) $ 0 .18 $ 0 .14 $ 0 .35 $ 0 .2 4

Weighted average, common sharers ( basic) 82 , 809 79,507 82,108 79,225`Weighted average common shares and equivalents (diluted) 91,222 91,282 91,082 91,245

The above pro forma statements of operations for the three and six months ended June 30, 2001 have been adjusted to present the Company's operatingresults excluding acquisition-related expenses for amortization of goodwill of $5,331, restructuring and integration charges of $946 and amortization ofunearned stock-based compensation of $555, primarily related to the acquisition of Freshwater Software which occurred on May 21, 2001 .

MERCURY INTERACTIVE CORPORATIO NCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except per share data )(unaudited )

Revenue :

LicenseServiceTotal revenu e

Cost of revenue:

LicenseServiceTotal cost of revenu e

Gross profit

Opera g

Research and development, net

Marketing and sellin g

General and administrative

Amortization of unearned stock - based compensation

Restructuring and integration charge s

Amortization of goodwill and other intangible assetsTotal operating expense s

m t operations

r inco Yie . ne t

li5 . ' bore provision for i€1c C tie taxes

income taxes

Three months ended Six months ende dJune 30, June 30 ,

2001 2000 2001 2000

$ 66,100 $ 48,500 $ 127,300 $ 90,50029,900 21,100 59,400 39,50 096,000 69,600 186,700 130,00 0

5,868 3,730 12,027 6,63 68,119 5,710 15,716 10,53 813,987 9,440 27,743 17,17 4

82,013 60,160 158,957 112,82 6

9,487 8,460 18,796 15,56049,116 35,334 96,832 67,872

6,101 4,060 11,118 7,457555 --- 555 -- -946 --- 946 -- -

5331 --- 5331 ---71,536 47,854 133,578 90,88910,477 12,306 25,379 21,93 7

2,895 3,228 8,179 5,83613,372 15,534 33,558 27,77 3

4,041 3,107 8,078 5,55 5

$ 9,331 $ 12,427 $ 25,480 $ 22,21 8$0 .11 $0 .16 $0 .31 $0 .2 8$0 .10 $0 .14 $0 .28 $0 .2 4

82,809 79,507 82,108 79,225

VJ~iy 91,222 91 ,282 91 ,082 91,245

Pro forma net income and net income per diluted share before acquisition-related expenses for the three months ended June 30, 2001 were $16 .2 millionand $0 .18, respectively . Pro forma net income and net income per diluted share before acquisition-related expenses for the six months ended June 30, 2001were $32 .3 million and $0 .35, respectively. For further detail see attached Pro Forma Condensed Consolidated Statements of Operations .


June 30, December 31 ,

S2001 200 0

rr ~-spts:

Cash and short-term investments $ 434,316 $ 628,74 3Trade accounts receivable , net 63,777 62,98 9Other receivables 12,623 13,23 3Prepaid expenses and other current assets 23,618 21,31 6

Total current assets 534 , 334 726,28 1Long-term investments 243,754 153,62 3Property and equipment . net 90 , 900 82,89 5Gaodevili and other intangible assets, net 142,770 ---Other assets . co l 25,672 1357 6

$1,037,430 $976,37 5

LIABILITIES AND STOCKHOLDERS' EQUITY

Current iiabilities :

Accounts payable $ 11,997 $ 12,93 1Accrued liabilities 56,314 58,942Income taxes payable 33,536 23,79 7Deferred revenue 86 ,550 77,67 3

Total current liabilities 188 ,397 173,34 3Converlible subordinated notes 500, 000 500,000

Total liabilities 688 , 397 673,34 3

Stockholders' equity :Common stock 166 16 2

Capital in excess of par value 223 , 888 190,23 2Notes receivable from issuance of stock ( 11,205) (7,528)Unearned stock - based compensation (9,881) ---Accumulated other comprehensive loss (996 ) (1,415)

Retained earnings 147,061 121,58 1Total stockholders ' equity 349,033 303,03 2

$ 1,037,430 $ 976,37 5

Investor Relations ContactsAnne Marie McCaule y(408) 822-535 9

Public Relations ContactsSue Ann Murray(408)822-5290

© 2006 . Mercury Interactive Corporation

Adam Sand oclarationExhibit 8

Press Release

Mercury Interactive Announces Preliminary Third Quarter Results

Sunnyvale , CA - October 1, 2001 - Mercury Interactive Corporation (Nasdaq : MERQ), the leader in enterprise testing and performance management solutions, today announcedpreliminary results for the third quarter ended September 30, 2001 . Mercury Interactive anticipates total revenue for the third quarter to be between $82 million to $84 million,including license revenue between $50 million and $52 million . Based on this estimated revenue, the Company expects to report pro forma earnings per share of approximately$0.10-$0 .12 . Pro forma earnings per share exclude charges associated with amortization of goodwill and intangible assets, amortization of stock based compensation andrestructuring charges . Mercury Interactive will report final third quarter results on October 16, 2001 .

"Our business results were adversely impacted by continued economic deterioration and the recent tragic events of September 11, 2001," said Amnon Landan, chairman, CEO andpresident of Mercury Interactive . "While these destructive activities and their impact could not have been predicted, we remain confident in the value proposition of our testing andperformance management solutions and our growth prospects going forward . "

Conference Call Informatio nThe company will host a brief conference call to discuss these preliminary results at 2:30 p .m . Pacific Daylight Time on Monday, October 1, 2001 . The conference call will beavailable via dial in at 800-310-1961 (domestic) or 719-457-2692 (international) or via webcast at www mercuryinleractive .comlcompaiiyfir/. A replay of the call will be available at888-203-1112 or 719-457-0820 or via the web site listed above . Confirmation code for the call and replay is 467202 .

Mercury Interactive (www.mercuryiriteractive .com) is the leading provider of enterprise testing and performance management solutions . The company's automated software andmanaged services help companies deliver and maintain high-performance applications . Customers worldwide use Mercury Interactive solutions across their application andtechnology infrastructures to minimize hardware and operational expenses, protect revenue streams and enhance their competitive positions .

Mercury Interactive is headquartered in Sunnyvale, California with offices in more than 20 countries . The company's common stock trades on the Nasdaq National Market under thesymbol MERQ .

The statements concerning our financial results and future prospects contained in this press release are "forward-looking statements" under the Private Securities Litigation ReformAct of 1995 . Numerous important factors affect Mercury Interactive's operating results and could cause Mercury Interactive's actual results to differ materially from forecasts andestimates or from any other forward-looking statements made by, or on behalf of, Mercury Interactive . These factors include, but are not limited to, the following : 1) the effect ofcontinued weakening of economic factors on the overall demand for software and services which could result in decreased revenues or lower revenue growth rates and increaseduncertainty as to our expected revenues in future periods; 2) uncertainties related to the integration of the Freshwater Software products and services, employees and operations ; 3)the dependence of Mercury Interactive's financial growth on the continued success and acceptance of its existing and new software products and services and the ability to increaseinternational sales ; 4) intense competition for Mercury Interactive's products and services ; 5) Mercury Interactive has historically received a substantial portion of its orders at the endof the quarter and if an order shortfall occurs at the end of a quarter it could negatively impact the company's operating results for that quarter ; and 6) the additional risks andimportant factors described in Mercury Interactive's SEC reports, including the Annual Report to Stockholders on Form 10-K for the fiscal year ended December 31, 2000 and otherfilings with the SEC .

Mercury Interactive is a registered trademark of Mercury Interactive Corporation, Sunnyvale, Californi a

Mercury Interactiv e1325 Borregas Avenue, Sunnyvale, CA 94089(408) 822-535 9(408) 822-530 0

Investor Relations ContactsAnne Marie McCauleyMercury Interactive(408) 822-535 9

Public Relations ContactsSue Ann Murra yMercury Interactive(408) 822-5290


Adam Sand L oclarationExhibit 9

Press Release

Mercury Interactive Reports Third Quarter Result s

Announces Revenue of $84 .0 million and Pro Forma EPS of $0 .1 1

Sunnyvale, CA - October 16, 2001 - Mercury Interactive Corporation (Nasdaq : MERO), the leader in enterprise testing and performance management solutions, today reportedresults for the third quarter ended September 30, 2001 .

Revenue for the third quarter of 2001 was $84 .0 million, compared to $79 .5 million in the third quarter of 2000 . Pro forma net income, excluding amortization and restructuringcharges, was $9 .8 million or $0 .11 per share on a diluted basis, compared to net income of $16 .7 million or $0.18 per share on a diluted basis for the third quarter of 2000 .

For the nine months ended September 30, 2001, revenue was $270 .7 million, compared to $209 .5 million for the same period in 2000. Pro forma net income in this period was $42.1million or $0 .47 per share on a diluted basis, compared to net income of $38 .9 million or $0 .42 per share on a diluted basis for the same period in 2000 .

"Our third quarter results reflect the challenging economic environment," said Amnon Landan, chairman, CEO and president of Mercury Interactive . "We remain committed to ourcustomers, focused on expanding our markets and very confident in our prospects going forward ."

For the third quarter, net loss was $7 .1 million or $0 .09 per share on a diluted basis . This includes amortization of goodwill and other intangible assets of $12 .5 million andamortization of unearned stock-based compensation of $0 .9 million associated with the Freshwater Software acquisition as well as restructuring charges of $4 .4 million for severancecosts and the cancellation of our user conference . Net income for the nine months ended September 30, 2001 was $18 .4 million, or $0 .20 per share on a diluted basis .

During the third quarter, Mercury Interactive announced a stock repurchase program for up to one million shares of its Common Stock . The company repurchased 783,500 shares forapproximately $16 .0 million .

Mercury Interactive (www .mercuryinteractive .com) is the leading provider of enterprise testing and performance management solutions . The company's automated software andmanaged services help companies deliver and maintain high-performance applications. Customers worldwide use Mercury Interactive solutions across their application andtechnology infrastructures to minimize hardware and operational expenses, protect revenue streams and enhance their competitive positions .

Mercury Interactive is headquartered in Sunnyvale, California with offices in more than 20 countries . The company's common stock trades on the Nasdaq National Market under thesymbol MERQ .

The statements concerning Mercury Interactive's future business prospects and product and service offerings contained in this press release are "forward-looking statements" underthe Private Securities Litigation Reform Act of 1995 . Numerous important factors affect Mercury Interactive's operating results and could cause Mercury Interactive's actual results todiffer materially from forecasts and estimates or from any other forward-looking statements made by, or on behalf of, Mercury Interactive . These factors include, but are not limited to,the following: 1) the effect of continued weakening of economic factors on the overall demand for software and services which could result in decreased revenues or lower revenuegrowth rates and increased uncertainty as to our expected revenues in future periods ; 2) Mercury Interactive has historically received a substantial portion of its orders at the end ofthe quarter and if an order shortfall occurs at the end of a quarter it could negatively impact the company's operating results for that quarter ; 3) the dependence of MercuryInteractive's financial growth on the continued success and acceptance of its existing and new software products and services and the ability to increase international sales ; 4)intense competition for Mercury Interactive's products and services; and 5) the additional risks and important factors described in Mercury Interactive's SEC reports, including theAnnual Report to Stockholders on Form 10-K for the fiscal year ended December 31, 2000 and other filings with the SEC .

Editor's NoteTables Attached: Pro Forma Condensed Consolidated Statements of Operations, Condensed Consolidated Statements of Operations, Condensed Consolidated Balance Sheets

Mercury Interactive, WinRunner, LoadRunner, TestDirector and Astra are registered trademarks and QuickTest, Topaz, ActiveWatch and ActiveTest aretrademarks of Mercury Interactive Corporation, Sunnyvale, California . Freshwater Software is a registered trademark of our wholly owned subsidiary,Freshwater Software, Inc. Product and company names are used herein for identification purposes only, and may be trademarks of their respective companies

Mercury Interactive1325 Borregas Avenue, Sunnyvale, CA 94089Tel: (408) 822-520 0Fax: (408) 822-5300


Three months ended Nine months endedSeptember 30, September 30 ,

2001 2000 2001 200 0Revenue ~

License $ 51,200 $ 54,200 $ 178,500 $ 144,70 0Se rv ice 32,800 25,300 92,200 64,80 0Total revenue 84,000 79,500 270 , 700 209,50 0

Cla o f

License 5,930 5,152 17,957 11,78 8Service 7,218 6,942 22,934 17,480

Total cost of revenue 13 , 148 12,094 40,891 29,268on. tniofit 70,852 67,406 229,809 180,232

OPer ;tir q

Research and development , net 9,255 8,132 28,051 23,692Marketing and selling 45,171 38,995 142,003 106,867General and administrative 5,578 4,766 16,696 12,223Total operating expenses 60,004 51,893 186,750 142,782

; ;13er<~tion~> 10,848 15,513 43,059 37,45 00 t 1,418 5,332 9,597 11,16 8

12,266 20,845 52,656 48,61 81 0 2,453 4,169 10,531 9,724

Net incr $ 9,813 $ 16,676 $ 42,125 $ 38,894Net im orme per share (basic) $ 0 .12 $ 0 .21 $ 0 .51 $ 0 .49=her it--- ~h fre (r1 ilu cchc $ 0 .11 $ 0 .18 $ 0 .47 $ 0 .42

C d car inn rt i sir) 83,266 80,263 82,494 79,57 1VJ - corn eon xf equivalents (diluted) 88,426 92,533 90,386 91,67 4

The above pro forma condensed consolidated statements of operations for the three and nine months ended September 30, 2001 have been adjusted to present the Company'soperating results excluding severance, acquisition and other related expenses . Specifically for amortization of goodwill and other intangible assets of $12,452 and $17,783,restructuring and integration charges of $4,415 and $5,361, and amortization of unearned stock-based compensation of $934 and $1,489, respectively, have been excluded, whichwere primarily related to the acquisition of Freshwater Software which occurred on May 21, 2001 and the restructuring which occurred during the third quarter of 2001 .

MERCURY INTERACTIVE CORPORATIO NCONDENSED CONSOLIDATED STATEMENT OF OPERATIONS(in thousands, except per share data)(unaudited)

Three months ended Nine months ende dSeptember 30, September 30 ,

2001 2000 2001 200 0Revenue :

License $ 51,200 $ 54,200 $ 178,500 $ 144,70 0Service 32 , 800 25,300 92,200 64,80 0Total revenue 84,000 79,500 270 , 700 209,50 0

Cost of revenue :License 5,930 5 , 152 17,957 11,78 8Service 7,218 6 , 942 22 , 934 17,48 0Total cost of revenue 13,148 12,094 40 , 891 29,26 8

Gross profit 70,852 67 , 406 229,809 180,23 2

(loon ting expenses:

Research and development , net 9,255 8 , 132 28 , 051 23,69 2Marketing and selling 45,171 38 , 995 142 , 003 106,86 7General and administrative 5,578 4, 766 16,696 12,22 3Amort ization of unearned stock- based compensation 934 - 1,489 -Restructuring , integration and other related charges 4,415 - 5,361 -Amortization of goodwill and other intangible assets 12,452 - 17,783 -Total operating expenses 77,805 51,893 211,383 142,78 2

income (loss) frorn operations ( 6,953) 15,513 18,426 37,45 0Other income, net 1,418 5,332 9,597 11,168ncorne (koss) before provision for mourn" ?axes ( 5,535 ) 20,845 28,023 48,61 8Provision" or memo text's 1,570 4,169 9,648 9,724

Net income (i ~ .) $ (7,105 ) $ 16,676 $ 18,375 $ 38,894'tat moo per share lbasic) $ ( 0.09) $ 0 .21 $ 0 .22 $ 0.49Not scot per share {diluted) $ (0.09 ) $ 0 .18 $ 0 .20 $ 0.42

hI' 1 a' erage common s?-,ares ( basic) 83,266 80,263 82,494 79,57 1We a'' :rago common damn ant! equivulents (c .+ilute'd) 83,266 92,533 90,386 91,674

Pro forma net income and net income per diluted share before severance, acquisition and other related expenses for the three months ended September 30, 2001 was $9,813 millionand $0 .11, respectively . Pro forma net income and net income per diluted share before severance and acquisition-related expenses for the nine months ended September 30, 2001was $42,125 million and $0 .47, respectively . For further detail see attached Pro Forma Condensed Consolidated Statements of Operations .


September 30, December 31,2001 2000

(unaudited) (audited)

t _ sets ,Cash and short-term investments $ 423,231 $ 628,743Trade accounts receivable , net 61,036 62,98 9Other receivables 12,779 13,233Prepaid expenses and other current assets 23,372 21,31 6Total current assets 520, 418 726,28 1

237,613 153,62 3N e t 94,128 82,895C, 130,318 -

30,954 13,576$1,013,431 $976,375

LIABILITIES AND StOCKHOLDECRS'ED(3i Y

Accounts payable $ 9,932 $ 12,93 1Accrued liabilities 49,638 58,942Income taxes payable 34, 450 23,797Deferred revenue 88,703 77,673Total current liabilities 182,723 173,343

Convertible subordinated notes 500,000 500,000Total liabilities 682, 723 673,343

S'tockholders' equity ,

Common stock 165 162Capital in excess of par value 226,109 190,232Treasury stock ( 16,082) -Notes receivable from issuance of stock ( 11,437) (7,528 )Unearned stock- based compensation ( 6,135) -Accumulated comprehensive loss (1,868) (1,415 )Retained earnings 139, 956 121,58 1Total stockholders ' equity 330,708 303,032

$ 1,013,431 $ 976,375

Investor Relations ContactsAnne Marie McCauleyMercury Interactive

Public Relations ContactsSue Ann MurrayMercury Interactive


Adam Sand ~,clarationExhibit 10

6

Press Release

Mercury Interactive Reports Fourth Quarter and 2001 Results

Announces Revenue of $90.3 million and Pro Forma EPS of $0 .1 4

Sunnyvale , CA - January 22, 2002 - Mercury Interactive Corporation (Nasdaq : MERO), the leader in enterprise testing and performance management solutions, today reportedresults for the fourth quarter and year ended December 31, 2001 .

Revenue for the fourth quarter of 2001 was $90 .3 million, compared to $97 .5 million in the fourth quarter of 2000 . Pro forma net income for the fourth quarter of 2001, excludingamortization and an extraordinary gain on the early retirement of debt, was $12 .1 million or $0 .14 per share on a diluted basis, compared to net income of $25 .8 million or $0.28 pershare on a diluted basis for the fourth quarter of 2000 .

For the year ended December 31, 2001, revenue was $361 .0 million, compared to $307 .0 million for the same period in 2000 . Pro forma net income in this period was $54 .3 million or$0 .60 per share on a diluted basis, compared to net income of $64 .7 million or $0 .70 per share on a diluted basis for the same period in 2000.

"Our fourth quarter was a strong finish to a challenging year," said Amnon Landan, chairman, CEO and president of Mercury Interactive . "Despite a difficult economic environment,we grew revenue by 18 percent in 2001, strengthened our position in the testing market and cemented early leadership in the performance management market . "

For the fourth quarter, net income was $15 .8 million or $0 .18 per share on a diluted basis. This includes amortization of $12 .8 million associated with the Freshwater Softwareacquisition and an extraordinary gain of $16 .3 million, net of taxes, associated with the early retirement of debt . Net income for the year ended December 31, 2001 was $34 .2 million,or $0.38 per share on a diluted basis .

During the fourth quarter, Mercury Interactive paid approximately $102 .7 million, including accrued interest, to retire $122 .5 million face amount of its convertible subordinated notes .

Mercury Interactive (www.mercuryinteractive .com) is the leading provider of enterprise testing and performance management solutions . The company's automated software andmanaged services help companies deliver and maintain high-performance applications . Customers worldwide use Mercury Interactive solutions across their application andtechnology infrastructures to minimize hardware and operational expenses, protect revenue streams and enhance their competitive positions .

Mercury Interactive is headquartered in Sunnyvale, California with offices in more than 20 countries . The company's common stock trades on the Nasdaq National Market under thesymbol MERO .

The statements concerning Mercury Interactive's future business prospects and product and service offerings contained in this press release are "forward-looking statements" underthe Private Securities Litigation Reform Act of 1995 . Numerous important factors affect Mercury Interactive's operating results and could cause Mercury Interactive's actual results todiffer materially from forecasts and estimates or from any other forward-looking statements made by, or on behalf of, Mercury Interactive . These factors include, but are not limited to,the following : 1) the effect of continued weakening of economic factors on the overall demand for software and services which could result in decreased revenues or lower revenuegrowth rates and increased uncertainty as to our expected revenues in future periods ; 2) Mercury Interactive has historically received a substantial portion of its orders at the end ofthe quarter and if an order shortfall occurs at the end of a quarter it could negatively impact the company's operating results for that quarter; 3) the dependence of MercuryInteractive's financial growth on the continued success and acceptance of its existing and new software products and services and the ability to increase international sales ; 4)intense competition for Mercury Interactive's products and services; and 5) the additional risks and important factors described in Mercury Interactive's SEC reports, including theAnnual Report to Stockholders on Form 10-K for the fiscal year ended December 31, 2000 and other filings with the SEC .

Editor's NoteTables Attached: Pro Forma Condensed Consolidated Statements of Operations, Condensed Consolidated Statements of Operations, Condensed Consolidated Balance Sheets

Mercury Interactive is a registered trademark . Freshwater Software is a registered trademark of our wholly owned subsidiary, Freshwater Software, Inc .Product and company names are used herein for identification purposes only, and may be trademarks of their respective companies .

Mercury Interactive1325 Borregas Avenue, Sunnyvale, CA 94089Tel: (408) 822-520 0Fax : (408) 822-5300



2001 2000 2001 20001even .Ue :

License $ 58 , 100 $ 71,400 $ 236 ,600 $ 216,100Service 32 ,200 26,100 124,400 90,900Total revenue 90,300 97,500 361,000 307,000

License 6,201 5,350 24,158 17,13 8Service 6,297 7,199 29,231 24,67 9Total cost of revenue 12,498 12,549 53,389 41,817

Research and development, netMarketing and sellin gGeneral and administrativeTotal operating expenses

N( c

Nr ncter i.

c)

VV rrr

77,802 84,951 307,611 265,18 3

9,111 8,350 37,162 32,04245,597 45,030 189,600 151,897

6,390 5,608 23,086 17,83163,098 58,988 249,848 201,77014,704 25,963 57,763 63,41 3

471 6,294 10,068 17,46215,175 32,257 67,831 80,875

3,035 6,451 13,566 16,175

$ 12,140 $ 25,806 $ 54,265 $ 64,700$0 .15 $0 .32 $0 .66 $0.8 1$0 .14 $0 .28 $0 .60 $0.70

82,765 80,996 82,559 79,92787,722 92,728 89,725 91,738

The above Pro Forma Condensed Consolidated Statements of Operations for the three and twelve months ended December 31, 2001 have been adjusted to present the Company'soperating results excluding severance, acquisition-related expenses, and the extraordinary gain on early retirement of debt . The amortization of goodwill and other intangible assetsof $12,342 and $30,125, restructuring and integration charges of $0 and $5,361, amortization of unearned stock-based compensation of $510 and $1,999 and the extraordinary gainon early retirement of debt, net of taxes, of $16,312 and $16,312 for the three and twelve months ended December 31, 2001, respectively, have been excluded .

MERCURY INTERACTIVE CORPORATIO NCONDENSED CONSOLIDATED STATEMENT OF OPERATIONS(in thousands, except per share data )(unaudited )

Revenue :LicenseServiceTotal revenu e

Cost of revenue :LicenseServiceTotal cost of revenu e

Gross profit

Operating expenses :Research and development, netMarketing and sellin gGeneral and administrativeAmo rt ization of unearned stock-based compensationRestructuring , integration and other related chargesAmo rt ization of goodwill and other intangible assetsTotal operating expenses

ineor from operationsGt i )come . net

. .. beta'. : ovision for income taxesf~ ... ... .; ?.1 ' _ . Y➢ e taxe s

Na n ) )ie extraor 1i ivy fern

Extraofdir,ary n gain on e arly r rrrerment of debt re

Net Incom e

Basic net income per share :Net income ( loss) before extraordina ry ite mExtraordina ry item - gain on early retirement of debt , net of taxesNet incom e

n incom , per shars :Net income ( loss) before extraordina ry ite mExtraordinary item - gain on early retirement of debt, net of taxesNet income


2001 2000 2001 200 0

$ 58,100 $ 71,400 $ 236,600 $ 216,10 032,200 26,100 124,400 90,90090,300 97,500 361,000 307,000

6,201 5,350 24,158 17,1386,297 7,199 29,231 24,697

12,498 12,549 53,389 41,81 777,802 84,951 307,611 265,183

9,111 8,350 37,162 32,04247,597 45,030 189,600 151,897

6,390 5,608 23,086 17,83 1510 - 1,999 -

- - 5,361 -12,342 - 30,125 -75,950 58,988 287,333 201,77 0

1,852 25,963 20,278 63,41 3471 6,294 10,068 17,46 2

2,323 32,257 30,346 80,87 52,856 6,451 12,504 16,17 5

($ 533) $ 25,806 $ 17,842 $ 64,700

16,312 - 16,312 -$ 15,779 $ 25,806 $ 34,154 $ 64,70 0

($0 .01) $0 .32 $0 .21 $0 .8 1$ 0.20 - $ 0 .20 -$0.19 $0 .32 $0 .41 $0 .8 1

($0 .01) $0 .28 $0 .20 $0 .7 0$ 0 .19 - $ 0 .18 -$ 0 .18 $0 .28 $0 .38 $0 .7 0

82,765 80,996 82,559 79,92 787,722 92,728 89,725 91,93 8

Pro forma net income and net income per diluted share before severance, acquisition-related expenses and the extraordinary gain on early retirement of debt, net of taxes, for thethree months ended December 31 , 2001 was $12,140 and $0 .14, respectively . Pro forma net income and net income per diluted share before severance, acquisition-related

expenses and the extraordinary gain on early retirement of debt, net of taxes, for the twelve months ended December 31, 2001 was $54,265 and $0 .60, respectively. For further detailsee attached Pro Forma Condensed Consolidated Statements of Operations .

MERCURY INTERACTIVE CORPORATIONCONDENSED CONSOLIDATED BALANCE SHEETS(in thousands )(unaudited)

December 31, December 31 ,2001 2000

Cash and short- term investments $ 427,781 $ 628,743Trade accounts receivable , net 66,529 62,989Other receivables 9,441 13,233Prepaid expenses and other assets 21,504 21,31 6Total current assets 525 , 255 726,28 1

Lu,g urn inv,ost ;nenta 161,091 153,623ry ~,r° q i-rn, 93,375 82,895

ud 0th in i 117,843 -Ott r <ssets, net 30,061 13,576

$927,625 $976,375

LIABILITIES AND STOCKHOLDERS' EQUI YCurrent Ilabilihes :

Accounts payable $ 12,420 $ 12,93 1Accrued liabilities 58,131 58,942Income taxes payable 32,630 23,797Deferred revenue 92 , 619 77,673Total current liabilities 195,800 173,343

Convertible subordinated notes 377,480 500,000Total liabilities 573 , 280 673,343

Stockhold'ers' .equity:

Common stock 166 162Capital in excess of par value 232 ,750 190,232Treasu ry stock ( 16,082) -Notes receivable from issuance of stock ( 11,164) (7,528 )Unearned stock -based compensation ( 4,795) -Accumulated comprehensive loss (2,265) (1,415 )Retained earnings 155 , 735 121,581Total stockholders ' equity 354,345 303,032

$ 927,625 $ 976,375

Investor Relations ContactsAnne Marie McCauleyMercury Interactive

Public Relations ContactsSue Ann MurrayMercury Interactive


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