Filed by Novell, Inc. and Cambridge Technology Partners (Massachusetts), Inc.
                           Pursuant to Rule 425 under the Securities Act of 1933
                                 And deemed filed pursuant to Rule 14a-12 of the
                                                 Securities Exchange Act of 1934

            Subject Company: Cambridge Technology Partners (Massachusetts), Inc.
                                   Commission File No. of Filing Person: 0-21040

                                                                         Page 1

                                     NOVELL

                             Moderator: Peter Troop
                                 March 12, 2001
                                  5:00 p.m. CT



Operator:  Good day everyone and welcome to Novell's conference call to address
     its announcement of Cambridge Technology Partners.  Today's call is being
     recorded.

     At this time, for opening remarks and introductions, I would like to turn
     the call over to Mr. Peter Troop, Director of Investor Relations.  Please
     go ahead, sir.

Peter Troop:  Yes.  Thank you, Ruthie.  And thank you, everybody, for being with
     us on this call on such short notice.  We apologize for the late
     announcement, but these announcements have a life of their own.

     I'm here in San Jose, California, with Eric Schmidt, who's Chairman and
     Chief Executive Officer of Novell.  I'm also with Dennis Raney, who's the
     Executive Vice President and Chief Financial Officer here at Novell.  We're
     joined from Boston with Jack Messman, who's President and Chief Executive
     Officer of Cambridge Technology Partners and we're here to discuss the
     announcement this afternoon of Novell's acquisition of Cambridge Technology
     Partners.

     We'll first hear from Eric on this call.  We'll then go to Jack Messman's
     perspective and then, we'll come back for some financial perspective from
     Dennis Raney, all before your questions.


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     On this call, we will make forward-looking statements regarding future
     events and the future financial performance of Novell and Cambridge.
     Actual events or results may differ materially from those in the forward-
     looking statements, due to a number of risks and uncertainties, including
     assumptions about future events based on current expectations, plans,
     business development efforts, near and log-term objectives, potential new
     business, strategies, organization changes, changing markets, marketing
     efforts, new Net services, anticipated demand for new offerings from
     markets that Novell is entering, future business performance and outlook.

     Among the important factors that could cause actual events to differ
     materially from those in the projections or other forward-looking
     statements are potential fluctuations in quarterly results, dependence on
     new product development, rapid technology and market change, acquisition
     strategy, risks associated with business conditions in the general economy.
     And then, of course, changes in business choices and business partners,
     competitive factors, sales and marketing execution sales, shifts in
     technologies or market demand.

     You should reference Novell and Cambridge's with the SEC, including their
     most recent filings on Form 10-K and 10-Q for a discussion of these and
     other important risk factors concerning Novell and Cambridge in their
     respective operations.

     This conference call is Webcast today.  It will be archived on the Novell
     Web site.  It will also be available as a dial-up replay.  And just so you
     have that number it will be area code 888 and then, there'll be (play)
     numbers, 566-0787.

     So, with that long introduction, let me turn this over to Eric.


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Eric Schmidt:  Well, thank you very much, Peter.  I'm delighted to report that
     we are doing exactly what we said we would do.  This announcement, which I
     am personally delighted to participate in advances Novell's transition to
     very much becoming a network services company.

     Between the Novell board and our management team, our goals were
     straightforward. We needed to gain the right skill set to quickly step up
     our ability to provide consulting services around our OneNet vision and Net
     services software.

     Two years ago, in a -- in a move that I think is very important, the Novell
     board set a target to achieve over 30 percent of Novell's revenue from
     consulting services by the year 2002. We planned a two-pronged approach to
     accomplish this, first, to begin the Novell consulting services within our
     company. Today, we have over 350 consultants on staff. These are now
     focusing on eDirectory and Net services and they account for approximately
     five percent of the total Novell revenue.

     But secondly, we realized that we would need to gain additional consulting
     services to reach the share of revenue targets that we've set. Internally,
     growth has been over 50 percent annually, but not on a large enough
     starting basis, if you will, to take us to our target of over a third of
     revenue from consulting.

     For these reasons, the CTP merger or acquisition, if you will, is very,
     very, smart. It achieved the goals that we set out. Cambridge takes Novell
     to where we want to be over the next year.

     Now, Jack, who serves on the Novell board, has been actively involved with
     this effort from the start. But, it's only recently that our choices took
     us close to (assessing) CTP, where Jack is a CEO. Since then, he's had to
     excuse himself from our Cambridge deliberations, for obvious reasons. But,
     one very important factor in this transaction is the managerial role that
     Jack will fill once the acquisition is done.


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     Cambridge and its market orientation and business priorities to e-services,
     rapid delivery of business solutions, made them an obvious choice. I was
     particularly interested in their management skills and an understanding of
     the Internet build-out cycle. This -- if you look at what companies are
     actually going to do with the Internet, they're going to take network
     services inside their company and they're going to bring them out as
     various forms of e-services. CTP is a very big leader in this area and it
     is a core focus of what they're trying to do.

     Now, this change in the IT market that we are both addressing has already
     aligned our businesses in many ways.  I see Jack as an ideal executive to
     take on the role of CEO as Novell delivers on its vision to become a leader
     of Net services software.  The kind of leadership that's required here, the
     day-to-day management, is something which Jack is literally a world
     superstar at.  And I feel that he'll do a stronger role than I.

     Introducing a strong IT services offering that makes Novell a better
     software vendor partner for customers is an important objective and we
     achieve that with this acquisition.

     No one is more committed than Jack to seeing Novell succeed. And, from a
     Novell shareholder perspective, he brings the right combination of business
     acumen and industry knowledge.

     So, in order to pull this off, we intend to quickly gain business advantage
     between our two organizations following the anticipated closing of this
     acquisition in June or so. And we plan for the transaction to be accretive
     in calendar 2002.

     As for Novell, our performance metrics that we laid out in our last
     conference call remain the same.  Over the coming months, you'll see a lot
     more defining deals, customers that validate Net services software.  Novell
     will continue to advance our partnering and ISV relationships.  We're very
     much focusing on services oriented channel model and we'll continue to
     develop the


                                                                          Page 5

     initiatives that are underway at the company, including our effort to
     expand market share in caching and content distribution.

     On a more personal level, I look very -- look forward very much to continue
     as Novell Chairman and equally to focusing my attention on technology and
     strategy, where I think that I can have the most leverage.

     I will also be continuing as Chairman of Volera and this step is really
     the second step in a two-stage process that we began more than six months
     ago, where first we identified the real value of Volera, which of course,
     we announced some -- more than a month ago.  This next step is a
     continuation of that and is very consistent with the goals we set out a
     month ago earlier.

     So, for all of these reasons, I believe that Novell is very, very well
     positioned for leadership in NetWare services.  This is why I came here in
     the first places.  This is one of the, sort of, last great opportunities in
     the networking area.  The strategy is right.  The step that we're taking
     now, to align Novell to changing customer needs and expectations, along
     with the aggressive business objectives that we set out, will, in my view,
     make it certain that Novell will remain and continue to expand this
     leadership in networking in a very fundamental and meaningful way.

     So, with that, Jack, would you like to introduce yourself?

Jack Messman:  Thank you, Eric, for those nice comments.  Eric, you've defined a
     very compelling vision of most of Novell's Net services software and it's
     been a privilege to work with you and your team in our negotiations over
     the last few weeks.

     I'm very pleased with what we've accomplished thus far. Cambridge
     shareholders, our clients and our employees all stand to benefit from what
     will come from our combination. The rationale


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     for this move is clear. Cambridge brings depth and focus to customer
     business issues and e-solutions. And we're a strong complement to Novell's
     based One Net solutions.

     Joining Novell represents a significant opportunity for Cambridge and our
     shareholders.  This is the right step for Cambridge, which will become a
     subsidiary company within Novell.  We will help Novell define new e-
     solutions models.

     We gain a very strong and solid financial base and we will also be able
     to maintain Cambridge's objective and independent point of view to the
     software choices that solve customers' problems in the best possible way.

     This is the hallmark of the way we do business, sharing risk and
     guaranteeing delivery.  We're well positioned to do this because of
     Novell's role as a supplier of NetWare and network infrastructure software
     that supports the best-of-breed solutions that clients prefer.  Novell's
     commitment to open standards, support for multi-vendor solutions and
     platform independence is completely consistent with Cambridge's mission.

     As Eric has pointed out, we will step up Novell's growth and consulting
     services and we will become part of a necessary evolution within Novell to
     better support solutions that rely on Novell Directory and other Net
     services.

     I've long been a champion of Novell.  But, I'm also certain that the
     emerging new models are what's required today and in the future by
     customers and partners.  These new models have leading independent software
     vendors recognizing the importance of providing services in depth in the
     form of solutions.

     I already know, as do many of you, that continuing its growth in
     consulting services is a requirement in the evolution of Novell's business.
     The opportunity is to expand support for our e-


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     solutions that rely on Novell Directory and other Net services. And we're
     equipped to quickly build out this solutions oriented capability within the
     greater Novell organization.

     In doing this, Novell moves to a business model that combines the
     strength of software licensing with the ability to support rich solutions
     and necessary relationships between other ISVs and IT service
     organizations.  The value of this change is in engaging customers and
     partners around a business solutions discussion that is more important to
     them than the individual products that contribute to the solution.

     Taking on the CEO responsibilities of the larger company is a prospect
     that I heartily welcome.  Novell's Net services opportunity is compelling
     from my point of view.  Novell's technology and the strength of its
     engineering base has already made a fundamental contribution to the
     industry and Novell's significance is growing.  No other software vendor is
     positioned to deliver the Net services software infrastructure that e-
     solutions broadly require.

     Both of our teams will move quickly through the second half of Novell's
     fiscal year to deploy our respective talents in a complementary way.  The
     directions that each of us have already taken represent how we have already
     built a foundation for our companies working together in the future.

     Cambridge's emphasis has been on e-services that address best business
     processes and Web-based solutions from customer relationship management to
     supply chain management to enterprise resource management and to e-
     commerce.  Novell's emphasis has been its Net services strategy and One Net
     vision.

     With Cambridge on board, Novell will open up a more robust pipeline to
     the customer, which it can leverage in the form of product sales, solution
     sales and more importantly, in the form of customer feedback to drive the
     new product development effort.


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     Cambridge has over 2,800 consultants worldwide with deep experience built
     on e-solutions via a wide array of end-to-end services.  These services
     include digital business strategy, e-commerce, mobile commerce, e-supply
     chain management, e-customer relationship management, e-enterprise resource
     management, Web design and technology services, including IT strategy,
     systems integration, data warehousing and custom application software
     development.

     Cambridge serviced approximately 725 clients around the globe in the year
     2000, predominantly in the financial services, communications, energy and
     manufacturing vertical markets and brings front line access to CEOs, COOs,
     division heads, as well as CIOs.

     Novell has site licenses with over 80 percent of the global Fortune 500.
     It's Net services bring value in virtually any industry segment where
     networks are a factor.  Novell has an especially strong penetration in
     commercial banking, government, healthcare, transportation and
     manufacturing and serves larger innovations in virtually every market
     sector.

     As you begin to juxtapose the many attributes of Novell and Cambridge, I
     think you can begin to see why we're tremendously excited about the
     potential of the combined organization.  Working together, we have the
     software engineering, the business strategy, the implementation know-how to
     produce second to -- second to none e-solutions for our clients, not to
     mention significant opportunities for our employees and significant value
     for our shareholders.  Our plans are to be well positioned to contribute to
     and benefit from an improving IT marketplace in 2002.

     And now, I'll turn it over to Dennis Raney to talk about the financials.

Dennis Raney:  Thank you -- thank you, Jack.


                                                                          Page 9

     I'd like to take a moment to elaborate on the financial character of the
     deal.  Just to reiterate the details of the transaction, under the terms in
     the agreement, Novell will exchange .668 shares of Novell common stock for
     every outstanding share (and) option of Cambridge Technology Partners.

     The transaction is valued at approximately $266 million, based on the
     closing price for Novell shares of $6.06 on March 9th, 2001.  The
     acquisition will be accounted for as a purchase and is expected to be
     completed in the third quarter of 2001.  Since this is a fixed share
     exchange, the actual purchase price may vary, based on Novell's share price
     when the deal was closed.

     The deal will be seven to nine percent dilutive in fiscal year '01, due
     to up-front investments that need to be made in order to achieve cost
     improvements and revenue synergies in 2002.  We expect the deal to be
     accretive by 24 to 25 percent in fiscal year two -- '002, excuse me -- as
     we begin to realize the return on the cost improvements and revenue synergy
     efforts between the companies.

     In fiscal year 2001 -- and let me remind you that CTP is on a calendar
     year -- with four months of post-acquisition results, Novell projects
     revenues close to $1.2 billion and 18 cents earnings per share.

     Now, our initial planning for 2002 leads us to revenue synergies of
     around $50 million, largely in the second half of the year.  With these
     revenue synergies, we expect to be midway between 1.6 and 1.7 billion for
     the year.  We derived this estimate through a study of a number of
     solutions that Cambridge felt they could sell into their vertical markets
     with Novell products.  We used our own revenue experience around our
     solution sales to (find) the expected amount of each individual sale.
     This, combined with $46 million in synergy cost savings, should take us to
     about 50 cents EPS for the year.


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     Now, we want specific cost savings that could be achieved in every
     functional area and cost center.  We believe there is more to do.  In
     addition, we have not yet scoped the additional potential benefit of
     business redesign efforts that should yield additional improvements to the
     augmented business.

     With that, I'd like to pass the cal back to Peter for Q&A.

Peter Troop:  Thank you, Dennis.  And we'll go to the operator to (set) -- to
     take questions.

Operator:  Thank you.  And, if you do have a question today, press the star key,
     followed by the digit one, on your touch-tone phone.  Again, that is star,
     one, to ask a question.  And we will take as many questions as time
     permits.  And we will pause right now a moment to assemble our audience.
     Just one moment.

     (Just standby), ladies and gentlemen.

     And we'll take our first question today from Steve Dube, with DKW
     Investment.

Steve Dube:  Hi.  A couple of questions.  First of all, given Jack's position on
     the board of Novell, could you tell us how extensively you surveyed the
     universe of other consulting firms before honing in on ...

Eric Schmidt:  Steve, this is Eric.

Steve Dube:  OK.  Hi.

Eric Schmidt:  Yeah.  Sorry.  We actually began a project called Project Napier
     -- N a p i e r -- in August of last year.  And this process was driven with
     Morgan Stanley and with McKinsey.  And we spent


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     literally months trying to figure out how to achieve the One Net vision.
     One of the traunches that we went through was to evaluate consulting
     companies because we had come into contact with so many of them. And we did
     a ranking and we looked at a couple pretty thoroughly. I'd rather not say
     their names for obvious reasons.

     And the CTP deal made sense because of their positioning in e-commerce
     and also because I felt that Jack had the leadership skills, the history
     with both companies and the ability to deliver the shareholder value.  You
     know, that he could literally pull it off.  Whereas, some of the other
     deals that I looked at, I thought (well), I'm not sure we can get the
     management team that can actually pull these things off.

     And so, the process was really strategically around fit, which they met,
     and ability to deliver, which they met.  And then, during the month of
     February, I flew out in the first week of February to see Jack and his
     Chairman.  And we began the discussions about doing this together.  And
     then, the rest is just history.

Steve Dube:  Right.  I'll ask a question on the CTP side also, maybe for you
     either or Jack.  And that is what percentage of the revenues at Cambridge
     are still what we might call older technology type ERP implementations
     and things like this, which you had (extensively) over the years.

Jack Messman:  I would say that 2000 was the transition year for us and we ended
     the year at about 74 percent e-business as opposed to traditional business.

Steve Dube:  OK.  And how do you set this up to avoid conflicts with a lot of
     the other systems integrators that you have already and are continuing to
     pursue relationships with, Eric or Jack.


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Jack Messman:  My view on that is that many of the Novell relationships with
     other consulting firms are oriented toward vertical markets. For example,
     there's one relationship with a -- with a consulting firm in the healthcare
     area.

Steve Dube:  Pricewaterhouse, yeah.

Jack Messman: Yeah. That happens to not be an area where we are focused. So, I
     don't see any real conflicts there.

Steve Dube:  But would the intent to be then, to carve out (SIs) that are not in
     areas that CTP is in?

Jack Messman:  I think that would be preferred.

Steve Dube:  Yeah.

Jack Messman:  And I think you'll always have the tradeoff to make (about) --
     whether you go with a partner in a vertical or whether you decide to go
     direct yourself in that vertical and it would depend on your internal
     skills, the solutions you have developed and the opportunities that you
     see.

Steve Dube:  All right.  Now again, for you, Jack, your sector has been
     particularly decimated in the last couple of months in terms of the
     incoming business pipeline and things of that sort and now, you just made
     announcement recently.  Can you give us a fix on what you see for your
     business going forward?

Jack Messman:  Well, I think that everybody in our sector is having difficulty
     with the visibility of business.  We've had the real collapse of the dot-
     coms.  And everybody is trying to rebalance their demand and delivery
     capabilities.  So, it's quite clouded at this point in time.  The long-term
     growth rates that all the industry analysts still point to indicate growth
     rates of 30 to 35 percent.


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     I think, looking back three years from now, looking back, we'll see that
     there was a little blip into 2001, but that the growth rates will continue
     because the real reasons for this technology is the fact that it drives
     productivity improvements that are significant to corporations.

     So, right now, I would say the visibility that's on the street -- I've
     looked at what Wall Street is estimating for our competitors indicates
     growth rates in the 14 to 15-percent range in revenues for the next 12
     months.

Steve Dube:  Does that fit in with your forecast, the numbers that Dennis
     provided us for your calendar year -- 2001 calendar year, 2002?

Jack Messman:  I think that those forecasts are consistent with our views.

Steve Dube:  (Thanks).  But, I'll pass now.  Thanks.

Operator:  OK.  We'll take our next question from Karl Keirstead, with Lehman
     Brothers.

Karl Keirstead:  Yeah.  Jack, congratulations.

Jack Messman:  Hi, Karl.

Karl Keirstead:  Hi.  I just wanted to ask you your exposure, yourself, to
     Novell, the firm that is.  What percentage of Cambridge revenues might come
     from working with Novell software or perhaps the number of Novell certified
     folks that you've got at Cambridge?  I didn't see Cambridge as a consulting
     alliance partner of Novell.  Perhaps you could comment on why.  Thanks.


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Jack Messman:  Yeah.  I think that my view, when Eric approached me on this, was
     to take a look at that issue.  And it's my view that the demand for the
     directory service that Novell has and the caching machine that they have
     and some of the other products that they have is just now coming into its
     own.  And after a review with our service line leaders and our industry
     salesman, they're of the opinion that the potential demand for Novell's
     products in our solution sets is going to be quite good going forward.  But
     it's just a developing demand and therefore, we should see much more growth
     there.

     I think there are some products that, quite frankly, our guys were in
     error not knowing about.  There's some really good stuff in Novell (buzz)
     and single sign on and things of that nature that they should have been
     aware of that they weren't.  And that might mean that Novell has to sell a
     little harder and we have to listen a little better going forward.  And I
     think we're committed to doing that.

Eric Schmidt:  Karl, this is Eric.  One of the special things about the One Net
     vision that Novell has outlined is its ability to integrate enterprise
     applications as a network service offering available anywhere in the world
     and on any device and at any time.  The analogy with respect to e-business
     is that CTP is busy making those e-business solutions and we provide the
     underlying infrastructure to actually allow that to be globalized and made,
     if you will, Internet ready.  So that we have a marketing alignment with
     respect to the stated strategies, literally one fits on top of the other.
     And the technology review that we did indicates that the two layer quite
     well.

     I will be talking next week at BrainShare, a little bit about some of
     these products that we're now shipping.  But a key comment -- a key
     component of what we do, our customer portal architecture is where these
     custom portals drive applications use.  And that is what I believe how the
     new Novell will be driving this new vision forward.  And there, the
     alignment is almost perfect.

Karl Keirstead:  OK.  Thanks very much.


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Operator:  And our next question comes from Paul Schupf, with Paul J. Schupf &
     Associates.

Paul Schupf:  I actually had three questions.  One is it was hard to follow.
     Did Dennis say that pro forma earnings in '01 would be 50 cents a share?

Dennis Raney:  In that neighborhood, Paul.

Paul Schupf:  OK.  That's number one.  Number two, what do you do with your
     marchFIRST investment?  And, number three, what provisions have you taken
     to keep the consultants at Cambridge?

Dennis Raney: Well, with regard to marchFIRST, we are going to continue to work
     with marchFIRST as one of our partners. And I think Jack covered the
     rationale why it's important that we have a number of partners covering all
     the major sectors in the economy. So, we don't intend to liquidate or alter
     that. in fact, we are continuing to have management meetings with
     marchFIRST on that very subject. And we expect to see continuing growth in
     the revenue that comes from them in that particular deal.

Jack Messman: To answer the question on -- basically, I think you were getting
     at turnover.

Paul Schupf:  Exactly.

Jack Messman: As you know, the dot-com collapse has caused a very big difference
     in the-- what these consultants have as opportunities in the marketplace.
     But, even despite that, we're doing things that we think appeal to
     consultants to make them stay with us. We have people programs that are
     built around helping them build their personal market value. We believe
     that they like to be trained in the latest technologies. Of course,
     Novell's got some of those that fit into that category. They like to work
     on a lot of cool projects, as they say. That means they get diversity of
     projects,


                                                                         Page 16

     not long projects that last five or 10 years, that they like to get
     variety. And I think they like the culture of our company.

     So, I believe all those factors will allow us to continue to keep the
     turnover than the industry down. We think that turnover in the 20 percent
     range is the objective because it allows us to keep fresh blood in the
     company and what we call refreshing the bottom of the pyramid. So, 20
     percent is around normal.

     And during the dot-com phase (and the) Cambridge experienced higher
     turnover in that because we had the proper credential that everybody was
     looking for on a resume.  Now that the dot-com thing is behind us, I think
     we'll have a much more sober workforce with regard to looking at the other
     side of the fence.

Paul Schupf:  Thank you.  Eric, if I could ask one more question.  Eric, do you
     think this will allow Novell to penetrate industry verticals more rapidly?
     Is that the key thing here?

Eric Schmidt:  Oh, sure.  And, if you look at the way CTP talks to its
     customers, they basically say you've got all these internal applications
     and we'll help you get them rationalized and integrated.  And they do an
     excellent job on that.  By combining our underlying technology base and
     their solution selling capability, we can actually now deliver, with feet
     on the street, the stuff we've been talking about for six months.  You
     know, what Novell does today is we give this nice demo and the sales people
     say this is great.  And the customer says well, who else is using it, how
     far along?

     And that's where our lack of historic investment in solution selling
     catches up with us.  This allows us to leapfrog to that into all these
     you know, if not a majority share of the people, certainly one of the best
     teams ever assembled to do it.


                                                                         Page 17

Paul Schupf:  Thank you very much.

Operator:  And we'll take our next question from Charles Phillips, with Morgan
     Stanley Dean Witter.

Charles Phillips:  Hi.  I was just wondering if you've had time to, kind of,
     segment the market somehow so that you're existing consulting partners,
     kind of, have rules of engagement to know what types of projects they would
     be called in on or you'd refer to them versus yourself.  Is there any kind
     of initial play book that you've developed to, kind of, explain to them,
     kind of, how this might work?

Jack Messman: Charles, my view on that is that we -- that most of the -- most of
     the consulting firms that would partner with Novell will do it in vertical
     markets where they have significant expertise because that's the way they
     gain competitive advantage, which is to customize Novell products into
     their application solutions so that you -- where your -- where your service
     line and your vertical market intersect, we call a sweet spot. And
     everybody wants to have a solution in the sweet spot that differentiates
     them from everybody else. And so, I think that's going to be the way Novell
     deals with other consulting firms and others to focus on vertical markets
     where the consulting firm has a special capability.

Charles Phillips:  And last question is billing rates between existing Novell
     consulting services and Cambridge.  I imagine Cambridge was a bit higher.
     (One is that two and two).  Is it likely that using Novell consultants
     ((inaudible)) in pricing, given that your consulting services look a little
     more strategic now?

Jack Messman: Yeah.  My view on that is that Novell's consulting services have
     been more focused on the installing of software than they had been on the
     installing of solutions. And generally, I think that our billing rates are
     higher because of the extra value-added that we have. But, I think there's
     going to be great opportunity to cross fertilize both organizations. And,
     in those instances where Cambridge has an opportunity to install a
     solution, we don't necessarily have to train some of our people in the


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     Novell technologies to do that because we have a trained group of people,
     systems engineers who can do that. So, there are those kinds of synergies
     going forward.

Charles Phillips:  Right.  Congratulations.

Operator:  And just a reminder, ladies and gentlemen, we -- to ask a question,
     press the star key, followed by the digit one, on your touch-tone phone.
     And again, that is star, one, to ask a question.

     We'll go next to Steve Bauman, with Parvest Investment Management.

Steve Bauman:  Good Afternoon.  Jack, just a quick question for you.  I wonder
     if you've had an opportunity to speak with any customers about the prospect
     of you guys becoming a captive organization, such that some customers
     wouldn't view you as offering independent advice anymore?

Jack Messman:  Yeah.  I think that we've had a view on that for some time.  I
     would say 18 months to two years ago, customers were very oriented toward
     what choices had been made in hardware and software in the solutions that
     were being implemented.  I would say today that most customers really don't
     care.  All they want is a solution that works.  They want it done fast and
     they want it done on cost and on time.  And, therefore, we believe that
     that's not going to be a problem.  In particular, we're going to make sure
     that, in those applications where we have a tight -- a tight integration
     with Novell products, that those are best of breed.

     We don't want to be out there selling a solution to a client where the
     way the software works or the solution that's provided isn't the best there
     is.  I mean, whenever we believe that we have that, then we won't feel bad
     about recommended that Novell solution.  Having said all that, we are


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     going to remain agnostic with regard to the technology. That's the only way
     we can be because the client has to feel that we are offering the best
     solution.

     For years, many of our competitors have offered particular software and
     hardware that they got commissions on.  We have never done that.  And we'd
     foregone that revenue stream.  We believe that they have been somewhat
     biased over the years themselves.  We are not captive to anybody.  And we
     will sell solutions.  We won't sell hardware and we won't sell software.
     We're going to sell solutions that include various types of software.  And
     that could be Novell's.  We would expect that Novell will provide the best
     solution.

Steve Bauman:  OK.  Secondly, when you and the Cambridge board decided that
     you were open to a merger, I wonder if you had discussions with any other
     companies besides Novell?

Jack Messman:  We have been approached by -- you know, as a board of directors,
     you always have an obligation to listen.  And we listened.  I guess, a
     couple of years ago, it's been now since -- almost a couple of years since
     I came onboard here.  We discussed this with a number of people.  And you
     have to consider where you stand in your own turnaround situation, which
     we've been in for the last year, and you have to consider the acquisition
     consideration you would get if you were to accept a deal.

     And there have always been a lot of Indian companies with very high
     revenues of multiples who would like to acquire U.S. companies. But, I
     don't believe that our board ever felt that that was an appropriate
     consideration for our shareholders, given the risk that they would be
     taking if they were to take the stock of one of those companies.

     So, we have always been aware of what's happening in the marketplace.  We
     have always been aware of where we stand in getting our company returned to
     profitability.  And, therefore, I would


                                                                         Page 20

     have to say the answer is yes. We were aware of other opportunities. And
     this one was considered to be one of the better ones, if not the best.

Steve Bauman:  And the reason that you decided to accept Novell's offer, in
     large part, was because you view their stock as depressed and themselves in
     the midst of a turnaround?

Jack Messman:  I think Novell's stock is not as robust as it has been, but we
     like the upside in the stock.  We like the ups.  We saw the -- as I said,
     one of the reasons we haven't used more of their products was that we saw
     the market developing for their products.  And, therefore, we thought that
     by helping them to grow the revenues for those products, that we would help
     the stock price go up significantly.

Steve Bauman:  OK.  Thanks.

Operator:  And we'll take our next question from Paula Rooney, with C.R.N.

Paula Rooney:  Eric, hi.  Could you tell me -- could you please reiterate the
     management changes involved?  And, what will be the impact on Novell's
     employee headcount?

Eric Schmidt:  Well, first I -- this deal is an acquisition of CTP, which adds a
     little less than 4,000 people to the combined company.  By agreement, I
     will become Chairman and Chief Strategist and Jack will become CEO.  Over
     the next -- these things take a long time to close, a couple of months.
     So, we've agreed that during that time, we will work through the necessary
     organizational changes to more closely combine the two businesses.  It's
     too early to really speculate as to what those changes would be.

     We believe that there is tremendous both revenue synergy, as well as
     expense synergy by simply combining some operations of the companies
     because both companies have a certain amount of


                                                                         Page 21

     duplication. For example, duplicate real estate and that kind of thing. So,
     you put all that together and the economics looks pretty good.

     I think it's too early to say exactly what those changes are, but you have
     my commitment to enthusiastically support both the merger and also the
     transition to Jack as CEO, with me working on this integrated strategy that
     I came to Novell to deliver.

Paula Rooney:  OK.  Thank you.

Operator:  And now, we'll take our next question from Tom Kirchofer, with
     "Boston Herald."

Tom Kirchofer:  My question -- that was it, actually.  But, I just wanted to
     clarify one thing.  Jack, you mentioned that Cambridge's current headcount
     is about 2,800?

Jack Messman:  That's consultants.

Tom Kirchofer:  Oh, OK.

Jack Messman:  And you add other staff, the administrative staff and then, you
     get closer to 3,800.

Tom Kirchofer:  OK.  All right.  That was my question.

Jack Messman: I would add on that -- on your -- on that issue that Eric has
     addressed. This is not the combination of two product companies, that
     there -- that where a lot of people are in duplicate positions. We have --
     we're adding a services company to a product company and, therefore, there
     will not be a significant amount of duplicate headcount. So, ...

Tom Kirchofer:  I see.


                                                                         Page 22

Jack Messman: ... we don't want our employees to get upset by somebody thinking
     that there's going to be a lot of headcount reduction.

Tom Kirchofer:  Sure.  And did -- just to clarify, did Dennis say earlier that
     you're expecting about $46 million synergies?

Jack Messman: Yes.

Tom Kirchofer:  OK.

Eric Schmidt: And we just did some quick math here. The headcount -- the
     headcounts are about 3000 on the CTP side and about 4,800 on the Novell
     side.

Male: Yep.

Eric Schmidt:: If you add that up, I think you get about 8,600 in the combined
     company, with Jack and I working as twins to make this happen.

Tom Kirchofer:  OK.  All right.  Well, thank you very much.

Operator:  OK.  And now, we'll go again to Steve Dube, with DKW Investments.

Steve Dube: Yeah. Just a quick follow-up question, one for you, Eric, and one
     fore you, Jack.

     Eric, in your new role, if you'd tell us about how much time you think
     you'll be spending on marketing. I think you've been very effective in
     conveying the message that Novell has had. Is that going to change, at all?
     Is it just strategist?


                                                                         Page 23

Eric Schmidt: Actually, I think what we agreed is that I would spend as much of
     my time as possible evangelizing this vision. I personally find it
     frustrating that I have obviously not been able to communicate the
     brilliance of it yet and so, I have to keep working on it. But, as you
     know, I should have laid out how the network service has evolved in the
     world. And Novell needed this step to do it.

     Having Jack actually running the business on a daily basis, I think,
     frankly, frees me up to spend more time on it, not less. And you can
     imagine, with 8,000 ((inaudible)) people and 1.6 or so billion in revenue
     is a tremendous amount of business issues, globalization and so forth,
     which I came to the conclusion Jack is actually better at than I am. And
     because of his history with the company, I frankly don't know of anyone who
     loves the company more than he does. So, the combination of all that made
     both good business sense and ((inaudible)) leadership and emotional sense
     at the same time.

Steve Dube: All right. So, you'll be closing all those deals that we're going to
     be hearing about. Right?

Eric Schmidt: Well, we have a whole bunch more on tap. So, they'll get announced
     as we can get permission to announce them.

Steve Dube: OK. And, Jack, a question to you on the -- you know, the synergies,
     that 46 million. Is that 46 million of Novell-related revenues that you
     think CTP can generate in fiscal 2002? Could you clarify that? And, if
     that's not the figure, what kind of synergies do you think could be-- that
     Cambridge could be generating on Novell-type product solutions?

Jack Messman: I think, Dennis, you ought to take that question. We spent a lot
     of time on that.


                                                                         Page 24

Dennis Raney: Yeah. Steve, we spent actually two solid days and more time around
     that, going through all the potential synergies from a cost savings point
     of view that we could undertake first. And those amounted to 46 million.

Steve Dube: OK.

Dennis Raney: And a lot of that is redundant staff personnel, as well as some
     significant opportunities we have to collapse our real estate networks
     around the world, essentially into a one footprint solution. And, in
     addition, there are some significant IT savings as we integrate our various
     business application and networks together internally. So, all of that was
     cost savings. We expect, in our initial planning -- and there will
     certainly be more of this as we work together over the next few months.
     But, our initial planning led us to believe that we could add, roughly, $50
     million in incremental sales of Novell solutions through this transaction
     and that those revenues would largely occur at the back end of 2002.

Steve Dube: OK. All right. And -- because I'm looking at the figure you put out
     before, of a billion-six, billion-seven for 2002, given the revenue
     expectations for Novell separately and the recent run rate of Cambridge,
     how Jack indicated the year might go and what the following year. It looks
     like that might be a very conservative figure?

Dennis Raney: Well, we're looking at somewhere around 1.5 billion this year. If
     you -- if you go through the math on that, that's what -- that's what the
     year look likes. And that's, basically, where the combination of what Jack
     has guided with his company and we've guided with ours. So, we expect to
     see somewhere north of a 10 percent increase in that next year.

Steve Dube: You're saying 1.5 is pro forma for fiscal '01 for you?


                                                                         Page 25

Dennis Raney: That's adding the guidance together, yes, that we have in the
     market and that we're still basically, behind. In our current quarters, by
     the way, both his quarter and our quarter, are continuing as we've -- as
     we've planned.

Steve Dube: OK. OK. So, you're only, right now, putting in a 10-plus percent
     gain in fiscal '02 for both sides?

Dennis Raney: That's where we're at, at this point.

Steve Dube: OK. OK. Thanks.

Operator: And, ladies and gentlemen, we have time for two more questions.

      We'll take our first question from Paula Musich, with "Eweek."

Paula Musich:  Thank you.  I actually have a couple questions, mostly for Eric.
     Eric, with all of the resumes floating out there on the street and all of
     the way up, that had been announced by a lot of competitors, the Cambridge
     Technology Partners, had you considered growing the services business
     organically, rather than doing an acquisition?

Eric Schmidt:  Well, indeed, we had.  And that was our strategy for the last two
     years.  And, if you do the math, we can't get there organically alone,
     person by person.  So then, we decided to buy a bunch of little (itty-
     bitty) companies.  And every tiny company we looked at took so much
     overhead in terms of meeting them and understanding their problems and
     going through due diligence and so forth that we figured out we couldn't
     get there that way either.

     So, what we concluded was it had to be a pretty substantial company. And we
     came to that decision, I would say, maybe in late September. So then, we
     did a sort of the substantial


                                                                         Page 26

     companies. At the time, as you recall, there was a fair amount of, sort of,
     big merger conversation among a whole bunch of those folks. And then, we
     ended up with CTP as our best choice.

Dennis Raney: Paula, this is Dennis. Let me augment what Eric said. Independent
     of the individual people and where they come from, I think it's important
     to recognize the value that we saw in Cambridge with regard to the quality
     and teamwork of their management team, but also, frankly, more importantly,
     the solutions philosophy that they've built out to address the various
     vertical markets that they're attacking. They have an excellent framework,
     an excellent technical architecture that they've built out around each of
     these e-solutions and they've also given a great deal of thought to how
     Novell technologies would fit into those architectures.

     And so, you can go about an organic growth, but you still have the problem
     of building out the go-to-market aspect of the business. And what we see in
     Cambridge Technology Partners is, frankly, a great leap forward in our
     ability to have a solutions framework to go to market with.

Paula Musich: OK. There's another question. Eric, how much of the consideration
     of Cambridge Technology Partners or the decision to go with them has to do
     with the intellectual capital they have versus the talent that they have?
     And, are you concerned that, by the time the deal is completed, a lot of
     that talent will have jumped ship?

Eric Schmidt: Actually, I'm quite certain that that will not be the case. As you
     know, CTP, itself, went through a turnaround about a year-and-a-half ago.
     Jack can go into more of the details because he did it. And our evaluation
     and due diligence was that Jack had assembled quite a fine leadership team
     with respect to each of the verticals. And the analysis of retention and
     turnover was that all of the vectors were favorable.

     So, my sense of the -- of the folks who are there is that they are people
     who either are historically committed to what they're trying to do or
     they're people who have -- who have been hired


                                                                         Page 27

     relatively recently last --that is, in the last couple of years and have
     bought into the vision of Jack. And there's no intention of changing that.
     So, I'm not at all worried about that issue.

Paula Musich:  Thank you.

Operator: And we'll take our last question today from Joseph Buttarazzi, with
     Adams Harkness & Hill.

Joseph Buttarazzi: Just a couple of deal-related questions here. Are there any,
     sort of, lockups outside of just Jack, out of Cambridge Tech, any out of
     the other -- the management team going to be locked up for any period of
     time? Are there break -- are there break fees associated with the deal and
     are there any, sort of, walk provisions on the deal?

Dennis Raney: There are normal break up fees in the deal and, you know, those
     will be disclosed in due time. As far as any other lockups, you know, we
     don't have any other lockups. So, we'll -- you know, we'll be adhering to
     our normal blackout periods. But, there are no other, you know, lockups in
     this deal.

Joseph Buttarazzi: Great. Thanks.

Operator: Thank you, ladies and gentlemen. That concludes or question-and-answer
     period today. Mr. Troop, I'll turn the conference back to you for any
     closing remarks you may have sir.

Peter Troop: Thank you, operator, and thank you everybody for being with us this
     afternoon on such short notice. Again, the conference call replay is
     available both through the Novell Web site, as well as within the next two
     hours, it will be up by phone access at 888-566-0787. Again, I'd like to
     thank you all for being with us this afternoon.

                                      END