ICAHN SAYS ‘THE WAR REGARDING DELL IS FAR FROM OVER’

(The following is a reformatted version of a press release
issued by Carl C. Icahn and received via e-mail. The release was
confirmed by the sender.) 
ICAHN COMMENTS ON LATEST DELL MACHINATIONS 
New York, New York, August 2, 2013 - Carl C. Icahn today issued
the following statement regarding Dell Inc.: 
In every war there are many battles. We are pleased today to
have won yet another battle, but the war regarding Dell is far
from over. Through its actions today, the Special Committee has
finally acknowledged publicly what we have been saying all along
- that Michael Dell’s offer substantially undervalues the
company. Obviously Mr. Dell’s previous characterization of his
offer as “best and final” was neither. However, we are not
satisfied - we believe that an increase of a mere 13 cents is an
insult to shareholders. And promising shareholders an additional
8-cent dividend that we were already entitled to, and pretending
that it is some sort of gift, is a further slap in the face. We
also continue to believe that the Special Committee is
improperly putting its thumb on the scales in favor of Mr.
Dell’s offer by changing the voting rules midstream and by
refusing to hold the Special Meeting and the Annual Meeting on
the same date and time - the only mechanism that would give
shareholders a true choice. As such, we will continue to
vigorously pursue our lawsuit in the Delaware Court of Chancery. 
We believe this lawsuit has now become of paramount importance.
It is crucial that the Special Meeting and the Annual Meeting be
held on the same date and time and that the same record date be
used for both meetings. This is particularly significant due to
the large number of shares that are now in the hands of
arbitrageurs. 
NOTICE TO INVESTORS 
SECURITY HOLDERS ARE ADVISED TO READ THE PROXY STATEMENT, DATED
JUNE 26, 2013, AND OTHER DOCUMENTS RELATED TO THE SOLICITATION
OF PROXIES BY ICAHN ENTERPRISES, LP, SOUTHEASTERN ASSET
MANAGEMENT, INC. AND THEIR RESPECTIVE AFFILIATES FROM THE
STOCKHOLDERS OF DELL INC. FOR USE AT DELL INC.’S SPECIAL MEETING
OF STOCKHOLDERS NOW SCHEDULED TO BE HELD ON AUGUST 2, 2013
BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING
INFORMATION RELATING TO THE PARTICIPANTS IN SUCH PROXY
SOLICITATION. A DEFINITIVE PROXY STATEMENT AND A FORM OF PROXY
HAVE BEEN MAILED TO STOCKHOLDERS OF DELL INC. AND ARE ALSO
AVAILABLE AT NO CHARGE AT THE SECURITIES AND EXCHANGE
COMMISSION’S WEBSITE AT http://WWW.SEC.GOV. INFORMATION RELATING
TO THE PARTICIPANTS IN SUCH PROXY SOLICITATION IS CONTAINED IN
THE DEFINITIVE PROXY STATEMENT, DATED JUNE 26, 2013. EXCEPT AS
OTHERWISE DISCLOSED IN THE DEFINITIVE PROXY STATEMENT, THE
PARTICIPANTS HAVE NO INTEREST IN DELL INC. OTHER THAN THROUGH
THE BENEFICIAL OWNERSHIP OF SHARES OF COMMON STOCK OF DELL INC.
AS DISCLOSED IN THE DEFINITIVE PROXY STATEMENT. WE HAVE NOT
SOUGHT, NOR HAVE WE RECEIVED, PERMISSION FROM ANY THIRD PARTY TO
INCLUDE THEIR INFORMATION IN THIS LETTER. 
FORWARD-LOOKING STATEMENTS 
Certain statements contained in this letter, and the documents
referred to in this letter, are forward-looking statements
including, but not limited to, statements that are predications
of or indicate future events, trends, plans or objectives. Undue
reliance should not be placed on such statements because, by
their nature, they are subject to known and unknown risks and
uncertainties. Forward-looking statements are not guarantees of
future performance or activities and are subject to many risks
and uncertainties. Due to such risks and uncertainties, actual
events or results or actual performance may differ materially
from those reflected or contemplated in such forward-looking
statements. Forward-looking statements can be identified by the
use of the future tense or other forward-looking words such as
“believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,”
“should,” “may,” “will,” “objective,” “projection,” “forecast,”
“management believes,” “continue,” “strategy,” “position” or the
negative of those terms or other variations of them or by
comparable terminology. 
Important factors that could cause actual results to differ
materially from the expectations set forth in this letter
include, among other things, the factors identified under the
section entitled “Risk Factors” in Dell’s Annual Report on Form
10-K for the year ended February 1, 2013 and under the section
entitled “Cautionary Statement Concerning Forward-Looking
Information” in Dell’s Definitive Proxy Statement filed with the
SEC on May 31, 2013. Such forward-looking statements should
therefore be construed in light of such factors, and Icahn and
Southeastern are under no obligation, and expressly disclaim any
intention or obligation, to update or revise any forward-looking
statements, whether as a result of new information, future
events or otherwise, except as required by law. 
Contact: 
Icahn Capital LP
Susan Gordon
(212) 702-4309 
(sgp) NY 
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