Trading Edge

Trading Edge will accept a statement from Morgan Stanley that aggregate
equity under management for ENA and ECT Investments exceeds 3 times the $25
million trading limit we are proposing. This statement, to be incorporated
into the letter of good standing which Ketan described, should be sent to:

Joseph Greenberg
Trading Edge Inc.
140 Broadway
42nd Floor
New York, NY 10005

Ketan, in addition, a copy of this statement could be emailed to Joe at
jgreenberg@tradingedge.com or faxed to 212-813-6060. Please copy us as
well.

Thanks.

Mike