San Francisco (Aug. 9, 2002) -- Eschewing the format to expense stock options recently adopted by such Fortune 500 companies as General Electric and Coca-Cola, semiconductor manufacturer Intel Corp. said it would not count stock options as an expense.Its decision mirrors that of its Silicon Valley neighbors, high-tech companies Cisco and Microsoft, who earlier said they would not expense employee stock options.

Defending the decision, Intel’s CFO, Andy Bryant said, "There was not a good valuation model to determine the fair value of unexercised employee stock options."

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