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Financial Forecast Assumptions
Oracle Corporation (ORCL)
(Dollars and Shares in Millions, Except Per Share Amounts)

 Actual Forecast
  12 Months  
05/31/03  		 12 Months  
05/31/04  		 12 Months  
05/31/05  		   12 Months  
05/31/06  		 12 Months  
05/31/07  		 12 Months  
05/31/08  		 12 Months  
05/31/09  		 12 Months  
05/31/10  
 
Year-to-Year Change in Net Sales NA   7.2%   16.2%    10.0%   10.0%   10.0%   10.0%   10.0%  
 
Operating Expenses as % of Net Sales 63.7%   62.0%   65.9%    66.0%   66.0%   66.0%   66.0%   66.0%  
 
Other Income (Expense) $1   $102   $164    $0   $0   $0   $0   $0  
 
Interest Rate on Borrowings NA   NA   NA    9.0%   9.0%   9.0%   9.0%   9.0%  
 
Interest Rate on Subordinated Debt NA   NA   NA    12.0%   12.0%   12.0%   12.0%   12.0%  
 
Income Tax Rate 32.6%   32.0%   28.8%    40.0%   40.0%   40.0%   40.0%   40.0%  
 
Cash $6,519   $8,587   $4,802    $0   $0   $0   $0   $0  
 
Number of Days Sales in Accounts Receivable 85.6   83.9   89.7    89.7   89.7   89.7   89.7   89.7  
 
Other Current Assets $487   $415   $777    $777   $777   $777   $777   $777  
 
Intangibles $0   $80   $10,376    $10,376   $10,376   $10,376   $10,376   $10,376  
 
Investments $233   $0   $0    $0   $0   $0   $0   $0  
 
Other Assets $445   $279   $390    $390   $390   $390   $390   $390  
 
Current Maturities $153   $0   $0    $0   $20   $20   $20   $20  
 
Number of Days Operating Expenses in Accounts Payable 13.8   11.1   10.8    10.8   10.8   10.8   10.8   10.8  
 
Number of Days Operating Expenses in Accrued Expenses 89.3   47.3   50.6    50.6   50.6   50.6   50.6   50.6  
 
Taxes Payable $891   $929   $904    $0   $0   $0   $0   $0  
 
Other Current Obligations $1,409   $1,497   $2,289    $0   $0   $0   $0   $0  
 
Other Current Liabilities $0   $830   $868    $0   $0   $0   $0   $0  
 
Term Loan $175   $163   $159    $746   $597   $448   $298   $149  
 
Subordinated Debt $0   $0   $0    $60,789   $60,789   $60,789   $60,789   $0  
 
Other Long Term Obligations $0   $0   $0    $0   $0   $0   $0   $0  
 
Other Liabilities $314   $333   $1,628    $0   $0   $0   $0   $0  
 
Common Stock $5,101   $5,456   $6,596    $27,466   $27,466   $27,466   $27,466   $27,466  
 
Preferred Stock $0   $0   $0    $0   $0   $0   $0   $0  
 
Other Equity $127   $156   $198    $0   $0   $0   $0   $0  
 
Treasury Stock $0   $0   $0    $0   $0   $0   $0   $0  
 
Capital Expenditures (Net) NA   $97   $370    $200   $200   $200   $200   $200  
 
Dividends as % of Net Earnings 0.0%   0.0%   0.0%    0.0%   0.0%   0.0%   0.0%   0.0%  
 
Depreciation (Net) NA   $91   $(4)    $150   $150   $150   $150   $150  
 
Estimated Borrowing Base as a % of Accounts Receivable 80.0%   80.0%   80.0%    80.0%   80.0%   80.0%   80.0%   80.0%  
 
Estimated Borrowing Base as a % of
      Property, Plant and Equipment (Net)		 50.0%   50.0%   50.0%    50.0%   50.0%   50.0%   50.0%   50.0%  
 
Common Shares Outstanding (Fully Diluted) 5,418   5,326   5,231    5,231   5,231   5,231   5,231   5,231