Clcikpaper cost per trade

As requested, I have come up with a rough estimate of the cost per trade for
Clickpaper (from a Product Control Group/Call Center prospective only).

The average cost per month for the team (fully loaded - salaries, benefits,
plus expenses) is $36,000. The average number of trades per month is 40 -
therefore, the average cost $900 per trade.

As a comparison, the average cost per EnronOnline trade $3.00. As you can
see, it is much lower due to the volume of transactions. We will recognize
the same economies of scale when the Clickpaper trades increase. We do not
anticipate needing any additional staff this year.

Please let me know if you have any questions.

Sheri