APX

Mark:

I will be in Amsterdam for the ISDA board meeting on March 15 and 16. I
would like to get an update on the APX before leaving for Amsterdam. For
example, do we think it will be successful? What kind of volume is trading?
Also, I wanted to get your recommendation on what law firms or maybe the APX
that I should visit while I am there. Hope things are going well.

Regards,

Mark Haedicke