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Alternative Investor View for Distribution of CA Restitution Fund

(March 24, 2005)

In a letter dated March 24, 2005, the State of Wisconsin Investment Board ("SWIB") presented views advocating a "trading" basis for distribution of the CA Restitution Fund rather than the "ownership" alternative developed from the CA Forum Panel's March 9, 2005 meeting with the Administrator.  An electronic copy of the letter can be downloaded from a link in the box below.

As stated in the letter, prepared with the advice of Mallon & Johnson, P.C., SWIB believes after reviewing the March 15, 2005 Forum Report that an "ownership" basis for distribution "would not fairly allocate the Restitution Fund given the fact that those shareholders who suffered substantial trading losses were clearly not fully compensated for such losses in the class action lawsuits."

SWIB notes in the introductory section of its letter that it owned "approximately 350,000 shares" of CA stock in September 2000.  According to its recent SEC reports, SWIB owned only 47,700 shares by September 2004 and no longer owned any CA shares at the end of 2004.

The Administrator's office reported that, as of March 29, 2005, no other statements of views had been received from investors.




The Forum is open to all Computer Associates ("CA") shareholders, whether institutional or individual, and to any fiduciaries or professionals concerned with their investment decisions.  Its purpose is to provide shareholders with access to information and a free exchange of views on issues relating to their evaluations of alternatives, as described in the Forum Summary.

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The material presented on this web site is published by Gary Lutin, as chairman of the Shareholder Forum.