UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Thomas W. Luce, III
5950 Berkshire Lane, Suite 1060
TX, Dallas 75201-4685
2. Issuer Name and Ticker or Trading Symbol
Dell Computer Corporation (DELL)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
3/1999
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock |3/31/ |M | |18400 |A |$9.26 | |D | |
|1999 | | | | | | | | |
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Common Stock |3/31/ |S | |18400 |D |$41.438 |0 |D | |
|1999 | | | | | | | | |
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<CAPTION>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Nonqualified Stock Opt|$0.535 | | | | | |1 |8/19/|Common Stock| | |76800 |D | |
ions | | | | | | | |04 | | | | | | |
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Nonqualified Stock Opt|$1.161 | | | | | |2 |8/24/|Common Stock| | |153600 |D | |
ions | | | | | | | |05 | | | | | | |
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Nonqualified Stock Opt|$2.072 | | | | | |3 |8/29/|Common Stock| | |329600 |D | |
ions | | | | | | | |06 | | | | | | |
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Nonqualified Stock Opt|$9.26 |3/31/|M | |18400 |D |4 |7/18/|Common Stock|18400 |N/A |160488 |D | |
ions | | 1999| | | | | |07 | | | | | | |
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Nonqualified Stock Opt|$28.899 | | | | | |5 |7/17/|Common Stock| | |26096 |D | |
ions | | | | | | | |08 | | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
1. Exercisable on 8/19/99.
2. Exercisable in accordance with the following schedule: 76,800 shares on
8/24 of each year from 1999 through 2000.
3. Exercisable in accordance with the following schedule: 85,760 shares
currently exercisable and 81,280 shares on 8/29 of each year from 1999 through
2001.
4. Exercisable in accordance with the following schedule: 1,376 shares are
currently exercisable and 39,778 shares on 7/18 of each year from 1999 through
2002.
5. Exercisable in accordance with the following schedule: 5,218 shares on
7/17/99, 5,219 shares on 7/17/00 and 7/17/02, and 5,220 shares on 7/17/01 and
7/17/03.
