SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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DEL WEBB CORPORATION
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(Name of Registrant as Specified In Its Charter)
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[LETTERHEAD OF DONALD V. MICKUS]
October 17, 2000
Mr. Edward Seaton
Institutional Shareholder Services
1455 Research Boulevard, 4th Floor
Rockville, MD 20850
Dear Mr. Seaton:
This letter is to confirm that:
1) Without the prior approval of the company's shareholders, options issued
under any of the corporation's existing stock option plans will not be
repriced, replaced, or regranted through cancellation, or by lowering the
option exercise price of a previously granted award, and that,
2) The plan will be amended at our next Board of Directors meeting to reflect
these clarifications and a copy of the amended plan will be sent to ISS.
Sincerely,
/s/ Donald V. Mickus
Donald V. Mickus
