Update on ITG Ancillary Agreements/Quantex Installation

Hi Selena,

I received a phone call today from ITG indicating that their business persons
overlooked a step in the procedural/legal process of getting Quantex
installed. As you know, I executed the NASDAQ, AMEX etc. agreements that
accompanied the Quantex agreement itself. ITG indicated that they never
faxed to us one more of these such agreements that has to get done and that
they are going to fax it on Monday when the requisite operations person
returns. Once this last statement is executed on Monday they will be able to
stall the equipment.

They further indicated that, in practical terms, there overnight should not
cause any further delay because they are just shipping the equipment today
for installation on Monday or Tuesday. I will keep you posted.

Feel free to call me Monday afternoon for an update and to insure that we are
getting this last agreement executed.

Julie, if I have any business-IT questions, I will call you on Monday. I
anticipate that in light of all the other agreements, everything will be
straight forward and I will get the agreement reviewed and executed pretty
quickly.

Cheryl Nelson
Senior Counsel
EB3816
(713) 345-4693