Anthony Noto Believe Quotations

We believe eBay continues to represent the best business model within the internet sector, as it remains relatively insulated from the heightened competition within e-commerce.

We believe the lower top-line growth in Q4' 00 versus expectations and uncertainty over Amazon's top-line growth going forward will overshadow the operational achievements that we felt were necessary to achieve operating profitability by Q4 ' 01 and subsequently could have driven stock price appreciation.