Dell Shares

We just got back from SRI in the Rockies where I had an opportunity to meet with several socially responsible investors and stakeholders. Dell was happy to be a sponsor and help celebrate SRI in the Rockies 20th anniversary. This is an important event that brings together a community of investors, stakeholders and academics all focused on creating a cleaner environment, more socially responsible business practices, and better working conditions for everyone.

I held a short group presentation to discuss engagement between our corporate responsibility and IR function and our stakeholders at large. Engagement with our stakeholders has always been an important part of raising our awareness at Dell. We began more than 12 years ago when I first received a call to fill out a SRI survey and we had no corporate responsibility team at the time. We went out to disparate groups throughout the organization to answer most of these questions.

Today things have changed significantly. We have a strong Corporate Responsibility team and through involvement of stakeholders like you, Dell took a leadership position in becoming the first company to offer a free consumer recycling program, the first to become operationally carbon neutral, and now we publish our list of Tier 1 suppliers. Every product we make is more energy efficient and has a bottom line effect for both our customers and Dell.

Our progess here has been more of a journey and you, the stakeholders and SRI community, have always been there steering and mentoring us as we go. During our discussion, one of our long time friends in this process has been Tim Smith from Walden Asset Management who has always counseled us on important issues. We appreciate this candid feedback. To Tim and others, we say that we appreciate your help, and look forward to your continued help and involvement.

Please take a look at our Corporate Responsibility report. We have made a lot of progress but there is always more to do. If you have feedback, please share it.

Thanks. And we look forward to next year's SRI in the Rockies conference in San Antonio.