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
Joseph A. Marengi
One Dell Way
TX, Round Rock 78682-2244
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)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Senior Vice President, Americas Relationship Group
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>
___________________________________________________________________________________________________________________________________
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
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)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock |3/30/ |M | |158000 |A |$12.738 | |D | |
|1999 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock |3/30/ |S | |50000 |D |$41.0625 | |D | |
|1999 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock |3/30/ |S | |108000 |D |$41.00 |274288 1 |D | |
|1999 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock | | | | | | |628 |I |401(k) Plan |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock | | | | | | |1200 |I |By Spouse's IRA |
- -----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
<CAPTION>
___________________________________________________________________________________________________________________________________
Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
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)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Nonqualified Stock Opt|$7.22 | | | | | |2 |7/1/0|Common Stock| | |1600000 |D | |
ions | | | | | | | |7 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Nonqualified Stock Opt|$12.738 |3/30/|M | |158000 |D |3 |3/20/|Common Stock|158000 |N/A |556 |D | |
ions | | 1999| | | | | |08 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Nonqualified Stock Opt|$28.899 | | | | | |4 |7/17/|Common Stock| | |86520 |D | |
ions | | | | | | | |08 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | | | | | | | | | |
___________________________________________________________________________________________________________________________________|
</TABLE>
Explanation of Responses:
1. Represents 48 shares held free of restrictions and 274,240 shares of
restricted stock scheduled to vest in accordance with the following schedule:
45,760 shares on 7/1 of each year from 1999 through 2003 and 45,440 shares on
7/1/04.
2. Exercisable in accordance with the following schedule: 400,000 shares on
7/1 of 1999 through 2002.
3. Currently exercisable.
4. Exercisable in accordance with the following schedule: 17,304 shares on 7/17
of each year from 2001 through 2005.
