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Expected Splits
Sunday, May 20, 2001

                                       Date Expected
Symbol         Company                 To Announce

SRDX           SurModics, Inc.            05/21
BJ             BJ's Wholesale Club        05/22
OMC            Omnicom Group, Inc.        05/22
SII            Smith International        05/22
FISV           Fiserv, Inc.               05/23
LOW            Lowes Companies            05/25

SRDX - SurModics, Inc. $51.00 (-0.15)

SRDX last announced a 2:1 split back in November of 2000 at $48.63. Given the chemical maker's recent burst into the high $40's, we feel another announcement could come with the company's BoD meeting scheduled for 5/21. The firm has 45 million shares authorized and only 16 million outstanding, so another 2:1 doesn't require a vote for more shares.

BJ - BJ's Wholesale Club $43.85 (-0.02)

BJ's has been slip sliding away over the last two months. Nonetheless, it still remains in historical split territory. The company last announced a 2:1 split in February of 1999 at $43.31. BJ's has plenty of authorized shares, so we see a possible split announcement coming out of the wholesaler's earnings release date of 5/22.

OMC - Omnicom Group, Inc. $93.85 (+4.10)

OMC last announced a 2:1 split in September of 1997 at $70.50. Given that the stock now trades at over $90/share, we feel a 2:1 split announcement is likely. We are targeting the firm's BoD meeting on 5/22 as the probable trigger for the announcement.

SII - Smith International $83.09 (+7.14)

This oilrig equipment provider has not split its shares since 1980. At the time SII was trading around $80. We have a sneaking feeling that SII is about to announce another split due to the fact that it has a meeting scheduled for 5/22 to increase its authorized shares from 60 million to 150 million.

FISV - Fiserv, Inc. $54.07 (+1.87)

FISV has a long history of 3:2 stock splits at the $50-$60 level. Since FISV now trades in the mid $50's, it becomes a natural for another split announcement. We are looking towards the company's next BoD meeting on 5/23 as the probable trigger for this announcement.

LOW - Lowes Companies $68.40 (+4.19)

Lowes last announced a 2:1 split in May of 1998 at $79. However, the company has also split its shares at $64.00 in 1994 so Lowes now lies right between these historical split- levels. Since the company has a BoD meeting on 5/25, we feel it may ask the shareholders to authorize more shares and to approve another 2:1 stock split.

 


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