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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    $164   $164   $164   $164   $164  
 
Interest Rate on Borrowings NA   NA   NA    7.0%   7.0%   7.0%   7.0%   7.0%  
 
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%    30.0%   30.0%   30.0%   30.0%   30.0%  
 
Cash $6,519   $8,587   $4,802    $4,802   $4,802   $4,802   $4,802   $4,802  
 
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   $0   $0   $0   $0  
 
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    $904   $904   $904   $904   $904  
 
Other Current Obligations $1,409   $1,497   $2,289    $2,289   $2,289   $2,289   $2,289   $2,289  
 
Other Current Liabilities $0   $830   $868    $868   $868   $868   $868   $868  
 
Term Loan $175   $163   $159    $159   $159   $159   $159   $159  
 
Subordinated Debt $0   $0   $0    $0   $0   $0   $0   $0  
 
Other Long Term Obligations $0   $0   $0    $0   $0   $0   $0   $0  
 
Other Liabilities $314   $333   $1,628    $1,628   $1,628   $1,628   $1,628   $1,628  
 
Common Stock $5,101   $5,456   $6,596    $6,596   $6,596   $6,596   $6,596   $6,596  
 
Preferred Stock $0   $0   $0    $0   $0   $0   $0   $0  
 
Other Equity $127   $156   $198    $198   $198   $198   $198   $198  
 
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