PreferredTrade

667 Mission Street, Suite 400 San Francisco, CA 94105 Toll-free: 888-781-0283 Fax: 415-733-3084 Email: Service@FimatPreferred.com Slogan: "Designed by professional traders for professional traders."

General Description: Founded in 1982 as Preferred Technology, Fimat Preferred is one of today's leading stock, options, and futures discount brokers. Headquartered in San Francisco, with additional offices located in New York, Chicago and Philadelphia, the firm is a member of the New York Stock Exchange [NYSE], other principal stock and options exchanges, the National Association of Securities Dealers [NASD], Securities Investor Protection Corporation [SIPC], the National Futures Association [NFA], the Municipal Securities Rulemaking Board [MSRB], the National Securities Clearing Corp. [NSCC], the Depository Trust & Clearing Corp. [DTCC] and the Options Clearing Corp. [OCC].

The firm offers options trades for $.95 a contract, with a $9.95 minimum ticket charge. Stock trades are available for a $9.95 flat rate for Nasdaq stocks (up to 5,000 shares). Direct access orders to all stock exchanges are executed for $.0095 per share, $9.95 minimum. Active traders are eligible for reduced rates (call for details). The firm offers online trading of simple strategies as well as vertical spreads, calendars, straddles, and strangles.

Order execution on stocks, futures, and options are sent through the PreferredTrade System, which allows direct access trading to all major listed and OTC stock venues, including ECN's, all U.S. option exchanges, and all financial futures points of execution. The PreferredTrade software is easy to use with fast execution speed for retail orders as well as large block orders for institutions. The trading software features proprietary technology that provides a comprehensive product mix including: front-end execution platform, high volume order management and routing capabilities, FIX API connectivity and a self-clearing operation. Options traders using the PreferredTrade system can also view position Greeks, see real time profit/loss results, create options chains, and calculate theoretical prices with options pricing models.

Features: The PreferredTrade 6 trading platform provides a sophisticated and powerful trading platform for active traders, institutions and hedge funds to execute orders on equities, options and futures. The multi-window application has many value-added features that are designed to ensure efficient management and implementation of trading strategies. User friendly, point and click trading along with direct access order routing allow traders easy execution of order at the best market prices. The system's functionality includes:

• Seamless online trading of options, stocks, futures, spreads
• Point-and-click trading
• Smart routing to best stock or option market or market of choice
• Stop on stock or contingent on stock option orders
• Online vertical spreads, calendar spreads, straddles, and strangles
• Staging orders for stocks and options
• Perform instant analysis by simulating changes in various factors, including stock prices, interest, dividend, and analysis date, as examples
• Real time profit/loss of real or hypothetical option positions
• Real time streaming option chain, or filter options by expiration, class or range of strikes
• Position Greeks shows net position for all holdings
• Real-time profit and loss calculation
• Streaming quotes
• Customizable WatchList
• Option chain
• Level II streaming quotes
• Real-time management of portfolio risk
• Position analytics and scenario analysis

Additional Services: Email and toll free telephone customer service with live broker.

Options: $1.00 per contract with a $9.95 minimum per order

Stocks: Flat Rate for NASDAQ Stocks: $9.95* (up to 5,000 shares) *Fimat Preferred may receive payment for directing orders to a third party dealer.

Direct Access for NASDAQ and Listed Stocks: $.01 per share with a $9.95 minimum per order

Account Minimum: A minimum of $5,000 for a cash or margin account; $10,000 minimum for covered spreads; $65,000 for uncovered positions; $25,000 minimum for pattern day trading account.

Quotes: Real-time streaming quotes are available at no additional charge to clients if there is a minimum of 3 trades per month, otherwise the fee is $7.00 per month. Level II streaming quotes available for $30 per month fee.

Extended Hours Trading: Pre-market online equity orders available from 5:00 AM to 6:30 AM Pacific time (8:00 AM to 9:30 AM Eastern time); no discrimination against odd lot orders, 24 hour order entry on Fimat Preferred's web trader platform (orders executed during market hours). Extended hours online trading for limit stock orders from 1:00 PM to 2:55 PM Pacific time (4:00 to 5:55 Eastern time).

About Fimat Preferred: Fimat Preferred, LLC is a wholly owned subsidiary of Fimat USA, LLC, which is a U.S. registered broker dealer and NASD member. Fimat USA is a member of the Fimat Group, a global organization consisting of Fimat International Banque, S.A. in Paris and all its numerous offices around the world. Fimat Group is one of the world's largest global brokerage organizations and is a wholly owned subsidiary of Société Générale Group. It offers to a vast majority of financial institutions and to large industry players the global range of clearing and execution services on listed or OTC derivatives and cash products such as fixed income, tangible commodities, forex and equities. The Fimat Group has a network of 29 offices located in 26 key financial marketplaces around the world and a staff number over 1,300. It is a member of 46 futures and options exchanges and 17 stock exchanges. In regards to major derivatives exchanges of which Fimat is a member, its total global market share was nearly 5% as of July 2005.

Risk Disclosure: Please note that options and futures are not suitable for all investors and investing in options and futures carries substantial risk. Because of the importance of tax considerations to all options transactions, investors considering options should consult with a tax advisor as to how taxes affect the outcome of contemplated options transactions. Individuals should not enter into options transactions until they have read and understood the risk disclosure document titled "Characteristics and Risks of Standardized Options." To obtain a copy of the Options Disclosure Document or the futures disclosure statement, call 888-781-0283.