Lund Financial Corporation

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Lund Financial Completes Advisory Assignment For Novell San Jose, Calif., December 18, 1997 -- Lund Financial Corp. has completed financial advisory services on two new building projects for Provo, Utah-based Novell Inc., announced Craig T. Lund, principal of Lund Financial. The projects are valued at $272 million. Lund Financial of San Jose, Calif., assisted the networking software company by structuring and closing the financing for both projects, one of which is in San Jose, Calif. and the other in Provo, Utah. "After reviewing the attributes from direct ownership of these facilities, Novell executives decided instead to finance them using a pair of synthetic leases, thus obtaining the lowest possible occupancy cost for the projects," said Mr. Lund. In San Jose, Novell is under construction with a five-building, 534,000 square foot campus at the southwest corner of North First Street and Guadalupe Parkway. The San Jose project is valued at approximately $157 million. In Provo, Novell is consolidating its headquarters by building two facilities comprising of 585,000 square feet at the northeast corner of University Avenue and 1700 South. The buildings are eight stories and five stories, respectively. The Utah project is valued at approximately $115 million. Novell is the world's leading provider of network software. The company offers a wide range of network solutions, education, and support for distributed network, Internet, and small-business markets. Information about Novell's complete range of products and services can be accessed at http://www.novell.com. Lund Financial Corp. has completed more than $1 billion in off-balance-sheet financing arrangements in the past four years. Off-balance-sheet financing, also known as "synthetic leasing," has increasingly become the financial structure of choice for the real estate needs of publicly-traded companies. Founded in 1985 by former bank executive Craig T. Lund, Lund Financial recently opened an office near the Washington, D.C. metro area.