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Laura Sanders, VP of IBM Tivoli Storage Software: Page 7 of 11

Byte and Switch: Were you interested at all in BMC's storage software assets?

Sanders: [Pause] There wasn't anything we saw in the BMC technology or customer base that really lit us up.

Byte and Switch: So you didn't bid for them?

Sanders: No, we did not bid for them.

Byte and Switch: Do you think we'll see more consolidation in the industry?