InterDigital Inc (IDCC)

[rmarchma]

Dishfan clarification re Mr. Espy

He has owned stock in IDCC since 1997, he is not a recent owner and "corporate raider" as you are trying to suggest. Part of his biography from one of his emails to the BOD in January '03 as follows:

..."I reside in Atlanta, am a native of Savannah, and was educated at The Lawrenceville School (New Jersey) and UNC. I am managing partner and founder of a real estate investment banking firm and have been an active investor in corporate securities for years. I was vice-chairman of the National Finance Committee for the Forbes 2000 Campaign, where Steve, of course, was seeking the Republican nomination for President; I am a trustee of the University of Georgia, where I was formerly chairman of the Development Committee, have been a long time active alumnus of UNC and Lawrenceville, where in the latter case I was a trustee and chairman of the National Gifts Committee of the then largest development campaign in American secondary school history; and have previously been a director of a public company. I have been an owner of InterDigital since 1997 and I have invested more money and comfortably own more common shares than the collective total of the independent members of our Board, based upon the latest disclosure of such from the proxy statement of 4/29/02."

Mr. Espy is very connected to some of the largest retail investment houses. Several of these large institutions cited significant ongoing insider selling as a major reason why they would not consider covering IDCC. Another excerpt from the above email as follows:

..."I do know for a fact that in a number of cases this selling by so may of our senior executives has given the company a very negative prospective from the Wall Street Community. At a minimum, this selling has given the appearance of an 'immaturity' by our management".