DELL COMPUTER CORP
4, 2000-11-09
ELECTRONIC COMPUTERS
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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
   Klaus  Luft
   Gut Keferloh 1 B
   , Grasbrunn bei Munich D-85630
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
   10/2000
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>
___________________________________________________________________________________________________________________________________
 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               |10/4/ |M   | |192000            |A  |$0.629     |                   |D     |                           |
                           |2000  |    | |                  |   |           |                   |      |                           |
-----------------------------------------------------------------------------------------------------------------------------------|
Common Stock               |10/4/ |M   | |76800             |A  |$1.161     |                   |D     |                           |
                           |2000  |    | |                  |   |           |                   |      |                           |
-----------------------------------------------------------------------------------------------------------------------------------|
Common Stock               |10/4/ |M   | |230400            |A  |$2.072     |499200             |D     |                           |
                           |2000  |    | |                  |   |           |                   |      |                           |
-----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
<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|$0.629  |10/4/|M   | |192000     |D  |1    |3/2/0|Common Stock|192000 |N/A    |0           |D  |            |
ion                   |        | 2000|    | |           |   |     |5    |            |       |       |            |   |            |
-----------------------------------------------------------------------------------------------------------------------------------|
Nonqualified Stock Opt|$1.161  |10/4/|M   | |76800      |D  |2    |8/24/|Common Stock|76800  |N/A    |0           |D  |            |
ions                  |        | 2000|    | |           |   |     |05   |            |       |       |            |   |            |
-----------------------------------------------------------------------------------------------------------------------------------|
Nonqualified Stock Opt|$2.072  |10/4/|M   | |230400     |D  |3    |8/29/|Common Stock|230400 |N/A    |76800       |D  |            |
ions                  |        | 2000|    | |           |   |     |06   |            |       |       |            |   |            |
-----------------------------------------------------------------------------------------------------------------------------------|
Nonqualified Stock Opt|$9.26   |     |    | |           |   |4    |7/18/|Common Stock|       |       |192000      |D  |            |
ions                  |        |     |    | |           |   |     |07   |            |       |       |            |   |            |
-----------------------------------------------------------------------------------------------------------------------------------|
Nonqualified Stock Opt|$28.899 |     |    | |           |   |5    |7/17/|Common Stock|       |       |26096       |D  |            |
ions                  |        |     |    | |           |   |     |08   |            |       |       |            |   |            |
-----------------------------------------------------------------------------------------------------------------------------------|
Nonqualified Stock Opt|$43.91  |     |    | |           |   |6    |7/16/|Common Stock|       |       |6284        |D  |            |
ions                  |        |     |    | |           |   |     |09   |            |       |       |            |   |            |
-----------------------------------------------------------------------------------------------------------------------------------|
Nonqualified Stock Opt|$43.91  |     |    | |           |   |7    |7/16/|Common Stock|       |       |10000       |I  |Family Trust|
ions                  |        |     |    | |           |   |     |09   |            |       |       |            |   |            |
-----------------------------------------------------------------------------------------------------------------------------------|
                      |        |     |    | |           |   |     |     |            |       |       |            |   |            |
___________________________________________________________________________________________________________________________________|
</TABLE>
Explanation of Responses:
1. Exercisable on 3/2/2000.
2. Exercisable on 8/24/2000.
3. Exercisable on 8/29/00.
4. Exercisable in accordance with the following schedule:  38,400 shares on
7/18 of each year from 1998 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.
6. Exercisable according to the following schedule:  1,256 shares on 7/16/00
and 1,257 shares on 7/16 of each year from 2001 through 2004.
7. Exercisable according to the following schedule:  2,000 shares on 7/16 of
each year from 2000 through 2004.



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