Dear FJ,

'Combining Si based IC with lll/V materiels'

This one phrase by our new COO has set us thinking, We have not heard this expressed in this direct way before. It is tempting to think of it as a technical change in direction, but I think not.

Over the past year I feel that management has changed its approach to just how it views POET's relationship with SI IC by softening it's stance from direct change, which implies stark competition to one of integration with Si. The company has made a number of statements to this effect. I cannot quote direct examples, through laziness, but this is my direct impression as an avid reader.

For me the worrisome quote is nothing more than an endorsement of the company''s approach and not a suggestion of a technical shift.

As ever we are reading too much into the little snippets of information we grasp at.

With regards,

Robert Sulasailor from a glorious Florence.

Ciao!