RE: Zach McCarroll

Since Zac opens a spot, Jason Jennaro is a good candidate.

-----Original Message-----
From: Grigsby, Mike
Sent: Thursday, January 31, 2002 1:45 PM
To: Slone, Jeanie; Lavorato, John; Shively, Hunter S.
Subject: Zach McCarroll

Zach has gone to great efforts to evaluate his situation and experience going forward and he has decided to work with the liquidation of the EBS assets. After seeking opinions from various business people, the overwhelming conclusion was to work with the Estate prior to entering business school in the fall.

Thank you for offering him a position and an option to join UBS, but he will officially decline the offer.

Mike