Dennis,

I think that this report applies to discrete components not embedded
passives except that the reference to "magnetics" may apply to inductors
and ferro-magnetic capacitance that, if we believe the comments made
last week at IPC, may decline. In any event, we think that there will be
significant growth in embedded resistors and capacitance.

Bye the way, thanks again for presiding over our conference. We received
an excellent response to the presentations.

Best regards,

Dan Brandler