Can i stay as long as I-94 is valid even after 5 Yrs on L1

[rushvin]

I will complete my 5 Yrs by Nov 2007. I was on balnket petition for about 8 months after which my company filed for an individual petition. When we applied for latest extension, we requeted an extension till Nov 7, as that date completes the five year stay in US. However, the Vermont processing center gave extension till July 2008. July 2008 will make 5 Yrs on my individual L1 not considering the stay on blanket L1.

Is it now legal to stay till July 2008 as USCIS itself has issued a I-94 ?

[rushvin]

Can anyone pls update on this?