Institute of International Finance

Robert Johnston has asked me to charge Vince's department for 1/3 of the cost
of the annual subscription to IIF. The annual cost is $47K. Therefore the
cost for 1/3 is $15,666.67. This information is for Maureen Raymond's use.

I will be happy to process the invoice for payment but in order for me to do
so, I will need the proper coding for Vince's department.

Please let me know if you are agreeable to this. If you have questions, you
may wish to contact Robert Johnston directly at 3-9934.

Thanks,
Sharon
5-7212