Elliott Corrects Bloomberg Story

Story Inaccurate and Erroneous, No Plans to Sell Any Business Units

Mar 11, 2010, 17:59 ET from Elliott Associates, L.P.

NEW YORK, March 11 /PRNewswire/ -- Elliott Associates, L..P. (together with funds under common management), issued the following statement in response to an erroneous and inaccurate story published by Bloomberg today regarding the firm's offer to purchase Novell, Inc. (Nasdaq: NOVL), for $5.75 per share in cash.

"The story that Bloomberg ran today was inaccurate," the firm said. "Elliott has made no statement with respect to its intent regarding Novell.  Elliott wants to own the company. Elliott has no plans to sell any business units and to report anything else would be erroneous."

About Elliott

Elliott's two funds, Elliott Associates, L.P. and Elliott International, L.P., together have more than $16 billion of assets under management. The funds' investors include institutions, foundations, endowments, pensions, high net worth individuals, and family offices. The 33-year-old trading firm is one of the oldest of its kind under continuous management.

SOURCE Elliott Associates, L.P.