[crazy_coco]

Rambus started with a Hold at WR Hambrecht (RMBS) 18.44: WR Hambrecht initiates coverage of RMBS with a Hold rating and $20-$21 target; firm believes that RMBS is more than just a memory co, with capabilities in high-bandwidth related IP that should drive new growth opportunities in the coming years; firm believes that the positive momentum that the co is seeing in the litigation front against the FTC, Infineon, Micron and Hynix could lead to: 1) future SDRAM and DDR royalty opportunities from DRAM manufacturers that are currently not paying royalties, 2) lower litigation costs in 2005 as these legal battles gradually come to a conclusion, and 3) more interest from institutional investors as the legal worries diminish. However, despite these positive developments, firm says there are no near-term catalysts in the litigation front until the fall of 2004.