Follow Up Items

An update on two of the items that we discussed before you went out of town:

Due Diligence Teams for Acquisitions Identified

I have worked with my operations controllers in EWS and have identified a
short list of individuals that we could use in the due diligence efforts on
potential acquisitions. We have identified our target teams for due
diligence efforts around commodities. While each person on the list has
other duties currently, all have back ups that would allow them to be devoted
to projects as they arise. I will review this list continually and update it
as I identify other qualified operations personnel who could do an excellent
job as part of a due diligence team. I mentioned that Kristin Albrecht had
created a due diligence check list while she was in London on the MG
acquisition. We will hold a session in the next 10 days to review this
checklist so that all are prepared. Let me know if you are interested in the
names on my list. Also let me know if there is a pending due diligence
effort.

Dedicated Support Named for Transportation Business

I met with Dan Reck and Chris Kravas week before last and have reviewed the
executive summary from the consulting team. I followed up with Brent Price
(my operations controller for EGM) to review his plan for creating an
appropriate infrastructure to support that business. Currently, Todd Hall
and Mike Perun on Brent's team are assessing what needs to be done. Todd has
other responsibilities and Dan Reck was concerned about the amount of time
that Todd would have. Brent has since recruited Shelley Stubbs to play the
lead role over operations integration for Webmodal. She will be returning to
Houston from the London office by the end of March. She will be able to
split her time starting next week to focus on Webmodal. Todd will stay
involved until Shelley is devoted fulltime at the end of March. We will also
keep Mike Perun on the assignment working for Shelley. Shelley is expected
to be in Houston next week, and I will sit in on meetings with her next week
regarding our plans. I will keep you posted.