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Employee
 Bulletin

May 9, 2003

A note from Craig Barrett requesting your action by May 20

Your vote is important for this year's Annual Meeting

"This year's Annual Stockholders' Meeting on May 21 includes a proposal requiring Intel to expense stock options. I know many of you are familiar with the debate on accounting methods for stock options. Intel has taken a prominent position opposing the proposal to expense stock options. As a result, we strongly urge you to vote AGAINST this proposal.

"We are strongly opposed to the mandated use of expensing, which we believe is a deeply flawed method of accounting that will affect the accuracy and clarity of our financial reporting and that has the potential for causing real economic harm to Intel, our employees, and our stockholders. Moreover, we are also leaders in providing stock options to our employees and would like to continue this practice. Expensing options would make it much more difficult to do so.

"You have the power of the vote. I am personally urging you to go out and vote "AGAINST' on the proposal to expense stock options.

"Thank you."

Craig R. Barrett
Intel CEO

Voting instructions

Related links
2003 Proxy Statement
Andy Grove against expensing
Craig Barrett: Wall Street Journal

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