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

 Actual Forecast
  12 Months  
05/31/97  		 12 Months  
05/31/98  		 12 Months  
05/31/99  		 12 Months  
05/31/00  		 12 Months  
05/31/01  		   12 Months  
05/31/02  		 12 Months  
05/31/03  		 12 Months  
05/31/04  		 12 Months  
05/31/05  		 12 Months  
05/31/06  
 
Year-to-Year Change in Net Sales NA   25.7%   23.6%   14.8%   7.2%    
 
Operating Expenses as % of Net Sales 77.8%   82.6%   78.8%   69.6%   65.2%    
 
Other Income (Expense) $28   $101   $130   $7,063   $218    
 
Interest Rate on Borrowings NA   NA   NA   NA   NA    
 
Interest Rate on Subordinated Debt NA   NA   NA   NA   NA    
 
Income Tax Rate 36.0%   38.7%   34.9%   37.8%   35.5%    
 
Cash $1,213   $1,920   $2,563   $7,762   $5,888    
 
Number of Days Sales in Accounts Receivable 109.7   105.5   102.5   100.5   91.2    
 
Other Current Assets $349   $338   $405   $331   $361    
 
Intangibles $99   $99   $99   $0   $0    
 
Investments $116   $187   $250   $110   $0    
 
Other Assets $269   $276   $476   $1,150   $1,092    
 
Current Maturities $3   $3   $4   $3   $3    
 
Number of Days Operating Expenses in Accounts Payable 15.3   14.8   14.9   14.9   13.9    
 
Number of Days Operating Expenses in Accrued Expenses 32.5   33.5   36.4   37.6   37.9    
 
Taxes Payable $204   $181   $278   $2,822   $767    
 
Other Current Obligations $603   $877   $1,007   $1,133   $1,214    
 
Other Current Liabilities $533   $641   $780   $891   $928    
 
Term Loan $301   $304   $304   $301   $301    
 
Subordinated Debt $0   $0   $0   $0   $0    
 
Other Long Term Obligations $24   $57   $78   $186   $328    
 
Other Liabilities $7   $16   $136   $267   $206    
 
Common Stock $696   $976   $1,476   $3,112   $4,821    
 
Preferred Stock $0   $0   $0   $0   $0    
 
Other Equity $(12)   $(41)   $(47)   $5   $(154)    
 
Treasury Stock $0   $0   $0   $0   $0    
 
Capital Expenditures (Net) $391   $328   $347   $263   $313    
 
Dividends as % of Net Earnings 0.0%   0.4%   0.4%   0.2%   1.1%    
 
Depreciation (Net) $238   $286   $320   $314   $276    
 
Estimated Borrowing Base as a % of Accounts Receivable 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%    
 
Common Shares Outstanding (Fully Diluted) 6,056   5,998   5,937   5,996   5,865    


Glossary of Assumption terms.