Question
From: (redacted)
Sent: Monday, January 30, 2006 11:12 AM
To: Verne, B. Michael
Subject:Valuation of Options
Hi Mike,
If some of targetshareholders will contribute their interest in target to an acquisition vehiclein exchange for acquisition vehicle shares (they will be minority shareholdersin acquisition vehicle) and at the same time, the target shareholders willpurchase options to purchase additional shares of acquisition vehicle would thevalue of the options be included in the purchase price?