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Natural
MicroSystems Corporation
ITEM
8
Financial
Statements and Supplementary Data
REPORT
OF INDEPENDENT ACCOUNTANTS
To
the Board of Directors and Stockholders of Natural Microsystems
Corporation:
In our opinion, the consolidated financial statements listed
in the index appearing under item 14(a)(1) present fairly,
in all material respects, the financial position of Natural
Microsystems Corporation and its subsidiaries (the “Company”)
at December 31, 1999 and 1998, the results of their operations
and their cash flows for each of the three years in the period
ended December 31, 1999, in conformity with accounting principles
generally accepted in the United States. In addition, in our
opinion, the financial statement schedule listed in the index
appearing under item 14(a)(2) presents fairly, in all material
respects, the information set forth therein for each of the
three years in the period ended December 31, 1999, when read
in conjunction with the related consolidated financial statements.
These financial statements and the financial statement schedule
are the responsibility of the Company’s management; our responsibility
is to express an opinion on these financial statements and
the financial statement schedule based on our audits. The
consolidated financial statements and the financial statement
schedule give retroactive effect to the merger of QWES.com,
Inc. in a transaction accounted for as a pooling of interests,
as described in Note
3 to the consolidated financial statements. We conducted
our audits of these statements in accordance with auditing
standards generally accepted in the United States which require
that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant
estimates made by management, and evaluating the overall financial
statement presentation. We believe that our audits provide
a reasonable basis for the opinion expressed above.
PricewaterhouseCoopers
LLP
Boston, Massachusetts
January 24, 2000
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